HomeMy WebLinkAbout26-056 Resolution Authorizing Funding and Budget Amendments and Transfers for Lake Marion Greenway and Ritter Farm Park Trailhead, City Project 26-15 CITY OF LAKEVILLE
RESOLUTION NO. 26-056
Resolution Authorizing Funding and Budget Amendments and Transfers
for Lake Marion Greenway and Ritter Farm Park Trailhead, City Project 26-15
WHEREAS, the Lake Marion Greenway and Ritter Farm Park Trailhead, City Project 26-15, are
programmed in the adopted Lakeville 5-year Capital Improvement Plan (2026-2030).
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Lakeville,
Minnesota:
The estimated project cost is $4,595,425 and anticipated fiznding sources are listed below. City
staff is hereby authorized to amend the 2026 budgets and/or 2027 budgets(if needed as the project
is completed)and make the appropriate transfers between funds/projects with respect to the project
funding sources up to 10%above the estimated costs.Funding transfers may include loans between
funds to cover engineering and other costs incurred on the project in advance of receiving other
funding.
Fundin Source Amount
Park Dedication Fund* $ 844,550
DNR Grant 250,000
LCCMR Grant 1,797,000
Dakota Count 1,703,875
$ 4,595,425
All project costs and revenues will be recorded in the City's Park Dedication Fund,
and the estimated net impact to that Fund is listed above.
ADOPTED by the Lakeville City Council this 4th day of May 2026.
CITY OF LAKEVILLE:
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Luke M. Hellier, Mayor
Ann Orlofsky, City Clerk