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<br />10. Funding Request
<br />
<br />. Amount of funding requested
<br />
<br />The full cost of the Twin Lakes Parkway is estimated to total in excess of $11 million. The City of
<br />Roseville is requesting $1,000,000 in support of this effort to build Twin Lakes Parkway as a way to
<br />jumpstart redevelopment h the entire 275-acre business park.
<br />
<br />. Project components proposed to fund with a Demonstration Account award
<br />
<br />DTED Contamination Cleanup, Met Cou ncil TBRA,
<br />BCRLF, Ramsey County CDBG, Small Business
<br />Environmental Improvement Fund
<br />DTED Redevelopment Grant, limited involvement of
<br />DTED Contamination Cleanup; HUD 10818EDI,
<br />CDBG or HOME (Ramsey), Tax Credit program,
<br />MHFA. Met Council Local HousinQ Incentives, LCDA*
<br />LCDA*, MetroTransit. special appropriation. private
<br />MnDOT Cooperative Agreement, TEA-21 via Met
<br />Council. special assessment. special appropriation
<br />*T 0 be applied for in a future LCDA application
<br />Benefits and value of an LCDA grant to the project, and outcomes if project is
<br />not funded
<br />
<br />Activity
<br />ROW aCQuisition for Parkway
<br />Contamination cleanup of ROW
<br />and public land
<br />Construction of Parkway
<br />
<br />Estimated Cost
<br />$6,000,000
<br />$525,000
<br />
<br />$1 ,420,000
<br />
<br />Utilities
<br />Parkway LandscapinQ & Pathways .
<br />TOTAL PARKWA Y COSTS
<br />Contamination cleanup of
<br />private land
<br />
<br />$1,310.000
<br />$1 ,850,000
<br />$11,105,000
<br />$3,600,000
<br />
<br />Redevelopment Gap (Acquisition
<br />and demolition on private land)
<br />
<br />$27,500,000
<br />
<br />Transit
<br />Reconfiguration of 1-35W
<br />
<br />$500.000
<br />$2,000,000
<br />
<br />.
<br />
<br />Potential FundinQ Sources
<br />Special assessments, TIF. special state appropriation
<br />Met Council LCDA, BCRLF, Met Council TBRA;
<br />repayment of loan with insurance proceeds
<br />Special assessment, LCDA, special state
<br />appropriation. TIF, BCRLF
<br />Special assessments, LCDA
<br />Special assessments, LCDA. DNR Metro Greenways
<br />
<br />An award of $1 million from the Metropolitan Counm LCDA grant would allow for the timely
<br />commencement of the Twin Lakes Parkway acquisition, cleanup and construction. The City of
<br />Roseville is in the midst of the planning framework, which sets the stage for the Twin Lakes Parkway
<br />construction, including the completion of an Alternative Urban Areawide Review.
<br />
<br />Without the LCDA funding, the City of Roseville would be set back in its ability to launch the rightcf-
<br />way acquisition, cleanup and construction process, potentially delaying the construction of te
<br />Parkway by a year or more. In the absence of the LCDA assistance, the City would have to rely on its
<br />Capital Improvement funds more heavily, which would result in greater special assessments against
<br />the new developments. The higher assessments are likelyto result in adverse effects on the City's
<br />redevelopment efforts.
<br />
<br />In addition, the City fears that if a public roadway is not constructed in a timely manner that private
<br />development may continue in a traditional manner on a parceby-parcel basis, with limited to no
<br />connection between the land uses. This would result in a less livable community with additional
<br />traffic congestion, more reliance on vehicles and compromised transit and pedestrian opportunities.
<br />In addition, there would be less green spaceand fewer public spaces provided for the general
<br />community's enjoyment.
<br />
<br />11. Attachments
<br />Maps
<br />Site Plan
<br />
<br />Q:\Grants\Livable Comm - 01 Appl\Twin Lakes Parkway Application.doc
<br />
<br />City of Roseville LCDA Application- 2001
<br />
<br />Page 5 of 5
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