HomeMy WebLinkAbout25-030 Resolution Authorizing Funding and 2025 Budget Amendments and Transfers for 185th Street Expansion Between Kenwood Trl and Ipava Ave CP-25-04 CITY OF LAKEVILLE
RESOLUTION NO. 25-030
Resolution Authorizing Funding and 2025 Budget Amendments and Transfers
for 185�' Street Expansion Between Kenwood Trail and Ipava Avenue
City Project 25-04
WHEREAS,the expansion of 185�''Street(County State Aid Highway 60)between Kenwood Trail
(County State Aid Highway 50) and Ipava Avenue, City Project 25-04, is programmed in the
adopted Lakeville 5-year Capital Improvement Plan and the construction contract is being
awarded on March 3, 2025.
NOW,THEREFORE, BE IT RESOLVED by the City Council of Lakeville,Minnesota:
The estimated project cost is $12,194,329 and anticipated funding sources are listed below. Ciry
staff is hereby authorized to amend the 2025 budgets (if needed as the project is completed) and
make the appropriate transfers between funds with respect to the project funding sources up to
10% above the estimated costs. Funding transfer may include loans between funds to cover
engineering and other project costs incurred in advance of receiving other funding.
The project will be accounted for in the Municipal State Aid Fund(F5221),with transfers as needed
between the funds listed below.
Project Costs by Funding Source
Funding Sources Amount
Grants* $ 615,053
Dakota County $ 6,128,870
MSA (Advance Funding by Dakota Co.) $ 3,250,388
Stormwater Infrastructure $ 1,405,417
Water Trunk $ 370,731
Sanitary Sewer Trunk $ 46,056
Water Operating $ 166,590
Sanitary Sewer Operating $ 7,387
Park Dedication $ 58,786
Escrow $ 126,996
Streetlight Operating $ 18,054
Total Funding Sources $ 12,194,329
*Grant is related to new trail construction, so these costs and
grant revenues are budgeted in the Park Dedication Fund.
ADOPTED by the Lakeville City Council this 3rd day of March 2025.
City of Lakeville:
Luke M. Hellier,Mayor
Ann Orlofsky, City Clerk