B TH212/101 Bonding
CITY OF
CHANHASSEN
7700 Market Boulevard
PO Box 147
Chanhassen. MN 55317
Administration
Phone 952.227.1100
Fax 952.227.1110
Building Inspections
Phone 952.227.1180
Fax 952.227.1190
Engineering
Phone 952.227.1160
Fax. 952.227.1170
Finance
Phone 952.227.1140
Fax 952.227.1110
Park & Recreation
Phone 952.227.1120
Fax 952.227.1110
Recreation Center
2310 Coulter Boulevard
Phone 952.2271400
Fax 952.227.1404
Planning &
Natural Resources
Phone 952.227.1130
Fax 952.227.1110
Public Works
1591 Park Road
Phone 952.2271300
Fax 952.227.1310
Senior Center
Phone 952.2271125
Fax 952.227.1110
Web Site
www.crchanhassen.mn.us
ß
--
MEMORANDUM
TO:
Todd Gerhardt, City Manager
FROM:
Paul Oehme, Dir. of Public Works/City Engineer I
t.¥
March 7, 2005 " .
DATE:
SUBJ:
Discuss TH 212/TH 101 GAP Loan Agreement - Project 03-09
BACKGROUND
On July 28,2003, the City Council adopted a resolution supporting the
accelerated funding of new TH 212.
On March 22, 2004, the City Council adopted a resolution granting Municipal
Consent of the TH 212 project.
On September 13,2004, the City Council held a public hearing on the 2005
MUSA Improvements.
On January 10,2005, the City Council received an update on the TH 212 project
and discussed using State bonding to pay for the City improvements.
On February 14,2005, the City Council ordered the 2005 MUSA Improvements
to be built in conjunction with the TH 212 project.
On February 28, 2005, the City Council approved the Cooperative Agreement
with MnDOT for TH 212.
DISCUSSION
The City is considering bonding for the City improvements to be constructed in
conjunction with the TH 212 project. At the September 13, 2004 MUS A public
hearing, projects and costs were identified to be built in conjunction with the TH
212 project. On February 14,2005, the Council ordered these projects forward.
To meet the bonding and assessment requirements, the other City improvements
that are planned to be bonded and assessed are required to have a public hearing.
Staff has proposed including in the state bonding the TH 101 GAP project. The
project has not yet been approved by Council, but it is appropriate to include this
project in the public hearing process at this time so a separate public hearing does
not need to be held. No improvements in conjunction with the TH 101 project are
proposed to be assessed. The bonding amounts for the TH 101 GAP project are
not expected to be finalized until a construction contract is awarded in 2006.
The City of Chanhassen · A growing community with clean lakes. quality schools. a charming downtown. thriving businesses. winding trails. and beautllul parks. A great place to live. work, and play.
Todd Gerhardt
March 7, 2005
Page 2
The improvements for the TH 212 project proposed to be assessed include turn
lanes, signals, and sewer and water improvements and are shown on the attached
sheet. A public hearing is planned for the remaining items to be assessed and
bonded for at the March 28th Council Meeting.
The funds will be bonded as improvements are made. The cooperative agreement
for roadway improvements will be bonded first with three payments. The first
payment is anticipated in April 2005, the second payment in April 2006 and the
third payment in October 2006. The betterment items (utility improvements) are
anticipated to be bonded in June after an assessment hearing. The TH 101 GAP
project is anticipated to be bonded in August, 2006.
Attachments: 1. Bonding Summary
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