City Council Meeting Date: June 15, 2021
To: Mayor and City Council
From: Ben Martig, City Administrator
Title
Consider Resolution of Support for State Capital Bonding Request(s).
Body
Action Requested:
The Northfield City Council approves Resolution Requesting Minnesota State Capital Investment Bonds for Mill Towns State Trail in the City of Northfield.
Summary Report:
One June 8 City staff presented to Council options for a request for funding from the State of Minnesota for the design, development, acquisition, and construction of the Mill Towns State Trail from Riverside Park to the Waterford Bridge.
Staff have updated the costs for the bonding request to include wetland replacement and easement acquisition as those weren’t available for the June 8 Council Meeting. This request for bonding will include 6.5 miles of new Mill Towns State Trail from Riverside Park to the Waterford Bridge.
The City of Northfield is proposing to contributing a local match share of 30% of the project and the State of Minnesota Capital Investment Bond request will be 70% of the project.
Alternative Options:
Council has the option not to pursue state bonding.
Financial Impacts:
Financial Impacts are shown above.
Tentative Timelines:
Submit request by June 18, 2021 to the State.