Market Boulevard is scheduled for reconstruction in the near future, currently 2023 on our schedule.  It is in need of access and mobility improvements along with pavement and utility replacements.  MnDOT has a competitive grant solicitation for local roadway improvements that could be used to offset the cost to the City.  The maximum grant award is $1.25M.  The City is soliciting letters of support from area businesses and the TCW Railroad to include with our application.

The LRIP Grant applications are due by March 3, 2021 and we should be notified by the end of May if we were awarded funding.

The Project Costs are currently estimated at $4,000,000 for this grant application.  The approved CIP identifies Project #ST-048 as a total cost of $3,200,000, but we have increased the cost to include a higher level of bike and pedestrian mobility and enhanced safety measures for the railroad and pedestrian crossing of Market Boulevard.  This is our main selling point for the grant.

The scheduled funding sources include TIF proceeds from the Venue development, Municipal State Aid (MSA) funds, Special Assessments and the various Enterprise Funds for the utility related work.

Any proceeds from a successful grant award would be used to offset our MSA funding which would benefit the City immensely in implementing other MSA eligible projects and/or be used to lower the Special Assessments.

Staff recommends that the City Council provide a Resolution of support for the grant application.