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that funds are available and will be issued on a first -come -first -serve basis. These advanced funds are <br />essentially an interest free loan and must be repaid in future years from the City's construction <br />allotment. We are recommending an advance of $1,225,400 in addition to the previously approved <br />$1,000,000. As MSA payment requests are submitted by the City, the amounts up to $2,225,400 (our <br />total advanced funding) would be advanced. <br />If City Project 16-1, 2016 Street Rehabilitation and the County Road E2 Bridge are approved, staff will <br />return to the City Council in 2016 to request an additional MSA advance. Our comprehensive street <br />plan doesn't include future work on MSA streets until the years 2020, and 2024. This will allow for our <br />annual construction allotment of $620,000 to pay back the 2015 advances prior to initiation of new <br />projects. Staff has worked closely with MnDOT for their guidance and approval of these advances. <br />Craig G. Schlichting <br />Director of Community Assets and Development <br />Resolution <br />