VII.3. Letter Agreement – Hopkins Station Park and Ride; Elverum (CR2017-022) January 31, 2017 Council Report 2017-022
LETTER AGREEMENT – HOPKINS STATION PARK AND RIDE
Proposed Action
Staff recommends adoption of the following motion: Move to approve Letter Agreement
– Hopkins Station Park and Ride between the City of Hopkins and the Metropolitan
Council.
With this motion the Letter Agreement will be executed.
Overview
The City of Hopkins received a $6 million Congestion Mitigation Air Quality (CMAQ)
grant to help pay for the cost of a park and ride facility to be part of The Moline
development. The grant is to be matched with $1.5 million in local funds, and $3.45
million in SW LRT project funds.
The Metropolitan Council has requested that the parties enter into a Letter Agreement
to establish the terms that will be incorporated into a final agreement for the purchase of
the ramp structure, and to commit both parties to enter into the final agreement.
The Letter Agreement defines the project as including a grade-level parking structure
with a minimum of 189 automobile parking stalls, an integrated transit shelter, driver rest
area and restroom. It also will include a pedestrian and bike lobby with 30 bicycle
parking spaces, fix-it station, water bottle filling station, bike-part vending machine,
seating and lobby area. It contemplates that the City will buy the facility from the
developer and sell to the Metropolitan Council under the terms described. It is
contingent upon receiving the Full Funding Grant Agreement for SW LRT.
Primary Issues to Consider
The terms are consistent with those detailed in previous action, including the resolution
in support of the CMAQ grant application.
Supporting Information
• Letter Agreement – Hopkins Station Park and Ride
___________________________
Kersten Elverum
Director of Planning & Development
Financial Impact: $1.5 million Budgeted: Y/N __Y___ Source: TBD
Related Documents (CIP, ERP, etc.): _______________________________________