City Council Meeting Date: June 4, 2019
To: Mayor and City Council
City Administrator
From: David Bennett, Public Works Director/City Engineer
Title
Consider Resolution to authorize Budget Amendment for the Depot and Transit Hub Site Improvement Project
Body
Action Requested:
The Northfield City Council approves the attached Resolution authorizing a Budget Amendment for the Depot and Transit Hub Site Improvement Project. This requires a super majority vote of the Council for approval (5 of 7).
Summary Report:
The City has worked with the Hiawathaland Transit to apply for a grant for construction of a proposed transit hub north of the Depot building. The 2018 grant wasn’t successful for funding. In addition, as part of the 2019 legislative session the City placed a bonding request to the State to assist in funding the Transit Hub. The request at this time appears highly unlikely to get funded.
Due to the recent failed attempt to fund this project through requests identified above, Council has indicated support for funding of the site improvements. The action before Council is a budget amendment to fund these improvements. The City along with Hiawathland Transit will continue to explore funding opportunities for the transit hub building.
The budget amendment will allow for the project to go out for bid and construction in the fall of 2019. The funding for the project is recommended to come from TIF 4.
Alternative Options:
The City Council has the option after bidding to consider award of the project.
Financial Impacts:
Below are the project costs and the proposed funding source for the project is TIF 4.
The current estimated available funds in the TIF 4 is $375,000.
Tentative Timelines:
The bids will be received on July 11, 2019 with projected award on July 23, 2019. Construction is expected to be completed in the fall of 2019.