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:� <br />,; <br />PROPOSED FUNDING <br />The majority of costs are contained in Ramsey County's street reconstruction portion <br />of the project. These costs have been distributed according to Ramsey County's cost <br />participation policy and will be funded by Ramsey County's State Aid Highway account <br />and city Municipal State Aid accounts. <br />The majority of the streetscape portion of the project is to be funded with a federal <br />TEA21 grant. Remaining costs will be collected from assessments and Roseville TTF <br />(Recreation Facilities Fund). <br />The financing scenario presented in this report anticipates that this project is able to <br />take advantage of the financial incentive offered by the Metropolitan Council in 1999. <br />Specifically, 80% construction funding is a�ailable for TEA2 1 projects (the streetscape <br />portion of this project) that are fully developed and approved by the end of 1999. If the <br />City is unable to complete project development by December 1999, the TEA2 1 portion <br />of this project would be reduced by approximately $300,000 a cost that would need <br />to be collected from other sources. <br />The estimate costs for this project are as follows: <br />Streetscape Ramsey County Tota1 <br />Construction $1, 224, 793 <br />Engineering, Legal, Other $12 2, 4 7 9 <br />Total Project Cost $1, 347, 272 <br />The project is proposed to be financed as follows: <br />County State Aid <br />Falcon Heights (MSA) <br />Roseville (MSA) <br />St. Paul (MSA) <br />TEA21 Grant (Federal) <br />Roseville Assessments <br />Roseville 'F�--�e��-Fund <br />Total Project Financing <br />13 <br />$3,742,798 <br />$119,703 <br />$80,017 <br />$82,457 <br />$978,934 <br />$278,300 <br />$89,798 <br />$5,382,007 <br />$3,307,160 $4,531,953 <br />$727,575 $850, 054 <br />$4,034,735 $5,382,007 <br />