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COf <br />,na EW <br />BRIGHTON <br />the city that works for you <br />2N <br />AGENDA SECTION: Consent <br />REPORT DATE: July 9, 2015 <br />MEETING DATE: July 14, 2015 <br />REQUEST FOR CITY COUNCIL CONSIDERATION <br />ITEM DESCRIPTION: CONSIDER RESOLUTION REQUESTING AN ADVANCE FROM <br />THE MUNICIPAL STATE AID STREET FUND FOR CALENDAR YEAR 2015 <br />DEPARTMENT HEAD'S APPROVAL: Craig Schlichting, Director of Community Assets and <br />Development <br />CITY MANAGER APPROVAL: <br />No comments to supplement this report Comments attached <br />Recommendation: Adopt the attached resolution REQUESTING AN ADVANCE FROM THE <br />MUNICIPAL STATE AID (MSA) STREET FUND FOR CALENDAR YEAR 2015. <br />Legislative History: <br />Neighborhood Informational Meeting <br />October 22, 2014 <br />Council received Feasibility Study <br />November 12, 2014 <br />Council set date for Public Hearing <br />November 12, 2014 <br />City Council approved MSA Advance <br />November 24, 2014 <br />Improvement Hearing (approved project) <br />December 9, 2014 <br />Council approved Plans and Specifications <br />March 24, 2015 <br />Bids opened by Staff <br />May 5, 2015 <br />Bid Awarded <br />May 12, 2015 <br />Financial Impact: In 2015, the City of New Brighton is estimated to have cash needs in excess of the <br />of the 2015 annual MSA funds, based on the construction costs for City Project 15-1, 2015 Street <br />Rehabilitation and New Brighton's contributions for the Highway 96 and 10th Street Bridges. <br />Explanation: The City of New Brighton receives an annual municipal state aid construction allotment <br />of about $620,000 for our MSA street system. The annual allotments accrue in the municipal state aid <br />fund and payments from the fund are made to the City when eligible state aid projects are constructed. <br />The City of New Brighton generally has a positive balance in the state aid account, but in recent years, <br />due to an unusually large number of MSA projects, the fund has been depleted. With the carry-over of <br />previously constructed MSA street projects, it is projected that the City's 2015 allotment will be fully <br />committed resulting in a zero balance. <br />The State Aid Operations rules provide for municipalities to advance up to five times the municipalities' <br />last construction allotment or $4,000,000, whichever is less, if the municipal state aid fund has sufficient <br />reserves. The municipal state aid fund contains the combined fund reserves of all the MSA <br />municipalities. We have notified MSA staff of our intent to request an advance, and they have indicated <br />