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10. Funding Request Amount of funding requested The full cost of the Twin Lakes Parkway is estimated to total in excess of $11 million. The City of Roseville is requesting $1,000,000 in support of this effort to build Twin Lakes Parkway as a way to jumpstart redevelopment in the entire 275acre business park. Project components proposed to fund with a Demonstration Account award The Twin Lakes Parkway requires the following elements, each with its own price tag: right-of-way acquisition, contamination cleanup of rightof-way and public land, construction of parkway, installation of utilities, and parkway landscaping and pathways. Land acquisition for the right-of-way may be funded by special assessments, tax increment financing (TIF), or a special state appropriation. Contamination cleanup of the rightof-way and public land may be paid for by the Brownfields Cleanup Revolving Loan Fund (BCRLF) from the US EPA.Construction of the Parkway may be paid for by special assessments, the Metropolitan Council Uvable Communities Demonstration Account (LCDA) grant, the special state appropriation, TIF, or even the BCRLF. Utilities may be funded by special assessments orthe LCDA grant. Parkway landscaping and pathways may be funded by special assessments, the LCDA grant, or Department of Natural Resources Greenways program. Benefits or value to the project that a grant award would provide. What would you not be able to do, but for these funds An award of $1 million from the Metropolitan Council LCDA grant would allow for the timely commencement of the Twin Lakes Parkway acquisition, cleanup and construction. The City of Roseville is in the midst of the planningframework, which sets the stage for the Twin Lakes Parkway construction, including the completion of an Alternative Urban Areawide Review. Without the LCDA funding, the City of Roseville would be set back in its ability to launch the rightDf- way acquisition, cleanup and construction process, potentially delaying the construction of the Parkway by a year or more. In the absence of the LCDA assistance, the City would have to rely on its Capital Improvement funds more heavily, which would result in greater special asessments against the new developments. The higher assessments are likely to result in adverse effects:m the City's redevelopment efforts. In addition, the City fears that if a public roadway is not constructed in a timely manner that private development may continue in a traditional sense on aparcel-by-parcel basis with limited to no connection between the land uses. This would result in a less livable community with additional traffic congestion, more reliability on vehicles and less opportunity Dr transit and pedestrian options. In addition, there would be less greenspace and public spaces provided for the general community enjoyment. 11. Attachments Map Site Plan Q:\Grants\Livable Comm. 01 Appl\Twin Lakes Parkway Application.doc City of Roseville LCDA Application Page 5 of 5