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Financial implications: The total estimated project cost and fmancing of the proposed 2001 PMP is as follows : Proj ect Number P-ST-01-02 P-ST-SW-Ol-09 P-ST-SW-Ol-10 Total Cost � Cost Estimate � $214,058.76 $1,524,000.83 $967,114.35 $2,705,173.94 Assessed Amount $53,513.38 $136,113.41 $297,287.22 $486,914.01 City Local �nds $160,545.38 Non None $160,545.38 City 1�ISA �nds None $1,387,887.42 $669,827.13 $2,057,714.55 Traditionally, the PMP is financed with bonds. In order to use bond proceeds to reimburse certain expenditures for the projects, the Council must make a formal declaration in the form of a resolution. Schedule: For projects ordered at the February 12, 2001 public hearings, we suggest the following schedule: Feb. 12-March 12 March 12 March 20 and April 10 March 23 and April 13 April 17 April 23 May 8 Plans and specification preparation period, MSA approval Council approval of plans and specifications and authorization to advertise for bid Ad for bids in Roseville Review Ad for bids in Construction Bulletin Bid opening Council award of contracts Start construction Staff recommendation: Staff recommends that the City Council order a11 public improvements heard on February 12, 200L In addition, staff recommends that the City Council declare that the City intends to reimburse its funds with bond proceeds. RECOMMENDED COUNCIL ACTION: Adoption of a resolution ordering the construction of improvements P-ST-Ol-02, P-ST-SW-Ol-09, and P-ST-SW-01-10. and Adoption of a resolution declaring the intent of the City to reimburse certain expenditures associated with the 2001 PMP from the proceeds of bonds to be issued by the City. Prepared by: Debra Bloom k