DEPARTMENT: Parks
FILE TYPE: Consent Action
TITLE
title
Authorization To Amend Parks 2024 Capital Improvement Program And Greenway Project Budgets Due To Lower Than Forecasted 2024 Transportation Advancement Account Revenues
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PURPOSE/ACTION REQUESTED
Amend 2024 Dakota County Parks Capital Improvement Program (CIP) and Budget for Greenway projects.
SUMMARY
The 2024 Dakota County Parks CIP utilized Transportation Advancement Account (TAA) and Environmental Legacy Fund (ELF) funding for Greenway engineering and construction projects. In July of 2024, Dakota County staff was informed by Minnesota Department of Transportation (MnDOT) State Aid that official forecasts for the Metro Regional Transportation Sales and Use Tax (SUT), which includes TAA funding, sixteen percent below the revenues originally forecasted, resulting in a $2,365,919 shortfall of available funding for adopted Greenway 2024 projects.
With the mid-year notice of the shortfall, many of the 2024 CIP projects that had approved budgets that included TAA, had been awarded contracts with consultant or construction contractors, or were going to be awarded before the end of 2024. To account for the shortfall in funding, staff proposed allocating $2,538,876 in available TAA funding to specific project budgets and proposed utilizing County SUT funding to make the other project budgets whole.
Because Greenway projects were not originally included in the 2024 - 2034 SUT list, staff was required to add these projects to the eligible County SUT projects list. The transportation SUT is authorized by Minn. Stat. ? 297A.993 (The Act). The Act requires the County Board to designate the transportation projects that will use the Transportation SUT following a public hearing. The SUT may be used on more than one project and may be dedicated to a new project by resolution after a public hearing (Attachment: Stat. ? 297A.993).
The funds generated by the Transportation SUT have been identified to be used for a ...
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