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Home My WebLink AboutItem 03Collector Roadway Financing Study Lakeville Public Works - Positioned to Thrive City Council Work Session March 25, 2013 Study Background ,;)! tA • Developer Forum held January 31, 2012 • Developer feedback regarding roadway improvements and infrastructure costs Lakeville Public Works - Positioned to Thrive Lakeville Public Works - Positioned to Thrive Study Goals 1. Review City design standards 2. Analyze the City's future collector roadway system 3. Identify alternatives to provide developer assistance 4. Review City revenue sources 1. Design Standards • Right -of -way dedication • Street sections • Found Standards to be correct • Continue to review roadway width /right -of- way needs on a case -by -case basis Study Goals Lakeville Public Works - Positioned to Thrive R/W SI DEWALK Lakeville Public Works - Positioned to Thrive Minor Collectors • 80' right -of -way • 40' wide • Sidewalks on both sides of the street • Example: Gerdine Path Gerdine Path R/W Lakeville Public Works - Positioned to Thrive Major Collecto 50' T 44 F-F 50' a l • 100' right -of -way • 44'wide • 8 -foot wide trails on both sides of the street • Example: Highview Ave. R/W lOw TRAIL li k Highview Avenue TRAIL 50'/75 Lakeville Public Works - Positioned to Thrive Arterials Q VARIES ss' 50775' • 100' /150' right -of -way 72' wide (plus center median) • 8 -foot wide trails on both sides of the street • Example: 185th Street /CSAH 60 TRAIL R/W 36' plus turn lanes 185th Street /CSAH 60 1 Current Policy N ew Major and Minor Collector Roadways • Developers are required to construct within new subdivisions N ew Arterial Roadways • Developers are required to construct to standards identified within the City /County's Comprehensive Transportation Plan (i.e. 179th Street) Lakeville Public Works - Positioned to Thrive r itl ,..,1 Study Goals 2. Developed a schedule of projects using the City's Comprehensive Transportation Plan • Estimated project costs and funding responsibilities • Assumed project priorities • City revenue assumptions Lakeville Public Works - Positioned to Thrive • 1 e gigs fo Future Transportation System 4 WSB j® 0 g9 1 • 1 1 0 — I 1 �.7 . •�ovi t. • ./ • ►' 165>hStW 1 175th St W ,9 3 — m za; 1 u 1 1 1 210th St W 09 a 0 G0 o N 0 x { .1 f 1 a 1 1 r 1-� 1 j 18 -� 1 7 + ♦ 3 1 1 r • 1 .Lo I a / –i t / / ` • 170th St W A 1 Inch = 3,119.566, Legend Future Road Segments - -• Arterial. Proposed (100'1150• ROW, 721N) (8.9mi( •— Exisling Arterial to be Expanded (11.6mi) - -• Major Colledor. Proposed (1P0' ROW, 44' W) (7.9m1) = == Major Colledor. Unimproved (100' ROW. 44' W) (2.2mi) • — Exiding Major Colledorlo be Expanded (12.6rni) — — minor Collector. Propnled(0P' 401A4 40' W) (1 aeni) 00 i lor Major Collector System • Total Costs $238,446,620 City Share - Current Policy • Future new construction • Future expansions Lakeville Public Works - Positioned to Thrive $824,200 $33,352,900 $34,117,100 Collector Funding Current Policy Lakeville Public Works - Positioned to Thrive State Aid 22% City Share 14% Federal 3% Mate 8% County 21% Township Cost Shares Front Foot 1% Upgrade Fees 3% 1 Cost Estimate Assumptions 0 ,� • All costs were estimated in 2012 dollars • Beyond the 5 -year CIP, all right -of -way to be dedicated with development New construction • Development driven Expansions • City /County project estimated with a 45/55 cost share Lakeville Public Works - Positioned to Thrive City Revenue Assumptions � �� ,� • Appropriate unencumbered MSA funds • City's share of construction costs • Property taxes • Property tax alternatives Lakeville Public Works - Positioned to Thrive Staff Considerations State Aid Allocations • Allocate additional State Aid dollars to fund new construction /expansion projects • Actively seek grant opportunities and collaborative partnerships • County • State • Federal Lakeville Public Works - Positioned to Thrive Study Goals Lakeville Public Works - Positioned to Thrive 3. Alternatives to provide developer assistance • Tools to assist developers with new construction projects • City issuance of debt • Special assessments *1 to Provide Developer i tio Assistance �» � ,r� • New Construction • Municipal benefit 1. City -led 429 Special Assessment Projects • Deferred assessments 2. Development agreements Lakeville Public Works - Positioned to Thrive Alternatives to Provide Developer Assistance 429 Special Assessment Projects • City -led projects • Design • Financing • Special assessments to be levied against benefitting properties • Deferred assessments • New construction through multiple properties • Functional policy issues need to be defined Lakeville Public Works - Positioned to Thrive 1 A WSB 41 `a --- 1. - - - -- f. - - - QQ 1 21 a' - -.. —a — — * — ma al§ +•.rr L �` 1 d• 3114 m '0 N m T `o 1 i _ g 1 1 ra 1 1 1 y t 2B a 210th St W E 1 1 mi 35 1 ~♦ 90th St W ,...�� = = ==a =- 1 T -- 1 a • 170th St W A Y krcd • 3,290 feet p Legend Future Road Segments 9.• Arterial. Proposed (1007150' ROW, 70 W) (13.9m) ) • .■ Existing Arterial to be Expanded (11.6mi( - • Major Collector, Proposed (100' ROW. 44' W) (7.9mi) --a Major Collector, Unimproved (100 ROW. 44' W) (22mi) • r Existing Major Collector to be Expanded (12.6mi) Minor Collector. Proposed (90' ROW. 40 W) (19.9 n) i Lakeville Public Works - Positioned to Thrive Alternatives to Provide Developer Assistance Development Agreements • City -led projects • Directly charge developers for benefits related to their property • Does not address properties further from the roadway improvements Lakeville Public Works - Positioned to Thrive 4. Review City revenue sources • Current • Primary • Secondary • Alternatives Lakeville Public Works - Positioned to Thrive i lor Major Collector System • Total Costs $238,446,620 City Share - Current Policy • Future new construction • Future expansions Lakeville Public Works - Positioned to Thrive $824,200 $33,352,900 $34,117,100 lot.isti l City Revenue Sources fr • Current Primary Sources • State Aid funds • Generated state -wide • Property taxes • Local existing users • Surface Water Management Fee • Local existing users • Special Assessments (used in the past) Lakeville Public Works - Positioned to Thrive City Revenue Sources • Current Secondary Sources • Liquor Funds • Tax abatement Lakeville Public Works - Positioned to Thrive • Tax Increment Financing (TIF) lot.isti l City Revenue Sources fr Lakeville Public Works - Positioned to Thrive • Current alternatives • Franchise Fees • Potential Sources • Transportation Area Charges • Street Improvement Districts Alternative Revenue Sources Franchise Fees • Local existing users • Includes tax exempt properties • Flat per meter fee • Appears on gas and electric utility bills Lakeville Public Works - Positioned to Thrive Revenue Alternatives Financial Responsibility Property Taxes Franchise Fees Residential Yes Apartment Rentals Commercial/Industrial Yes Yes Undeveloped Agricultural Land Yes No Exempt (Churches, Schools) Lakeville Public Works - Positioned to Thrive Yes Yes Yes No Utilities Yes No il Alternative Revenue Opportunities • 2015: Kenrick Avenue • City's share = $824,200 • 5-l0 • City's share = $3,180,500 Lakeville Public Works - Positioned to Thrive Lakeville Public Works - Positioned to Thrive 44 Potential Revenue Sources Transportation Area Charges • Collected with development • New users • City Attorney has advised legislative authority is needed Potential Revenue Sources Street Improvement Districts • Similar to other public utility fees • Existing users • Funds municipal street maintenance • Legislative authority is needed • LMC initiative to create street improvement districts • Introduced to the State House and Senate this past February Lakeville Public Works - Positioned to Thrive 1 Alternative Financing •' +` j • Debt Financing d • Project priorities are revised • Issue to avoid near -term tax levies Lakeville Public Works - Positioned to Thrive Council Considerations • Project Priorities • Discussed with CIP update process • Use of 429 Special Assessment Process with development driven projects • If so, under what circumstances? 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