IV.6. Resolution for Municipal State Aid Street Funds Advance; Klingbeil CITY OF HOPKINS
City Council Report 2024-053
To: Honorable Mayor and Council Members
Mike Mornson, City Manager
From: Eric Klingbeil, City Engineer
Date: April 16, 2024
Subject: Municipal State Aid Street Funds Advance Request
_____________________________________________________________________
RECOMMENDED ACTION
MOTION TO Adopt Resolution 2024-034, Resolution for Municipal State Aid Streets
Funds Request
OVERVIEW
When streets on our State Aid Route network are improved, the City is able to draw
funds for our State Aid balance to help offset the costs of these projects. Mainstreet
was improved in 2015 and was eligible to receive State Aid funds. Due to funding
requirements as part of the Blake Road improvements, reimbursements for that project
took priority starting in 2020. All Blake Road reimbursements are now complete.
Currently the City has $828,429.29 in its State Aid fund, with $2,463,998.67 worth of
eligible reimbursement for Mainstreet. Typically, a city can request disbursements equal
to their State Aid fund balance, but with approval from the State Aid office advances are
allowed to close out project reimbursements. This advance is taken on future annual
State Aid disbursements. There is no penalty or fee to request or receive an advance.
Staff has received approval for the advance request with council approval.
SUPPORTING INFORMATION
ď‚·Resolution 2024-034
Engineering
CITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION 2024-034
RESOLUTION FOR MUNICIPAL STATE AID STREETS FUNDS ADVANCE
WHEREAS, the Municipality of Hopkins has implemented a Municipal State Aid Street
Project in 2015 which required State Aid funds in excess of those available in its State
Aid Construction Account, and
WHEREAS, said municipality intends to close the construction funding of said project(s)
through the use of an advance from the Municipal State Aid Street Fund to supplement
the available funds in their State Aid Construction Account, and
WHEREAS, the advance is based on the following determination of estimated
expenditures:
Account Balance as of date 02/13/2024 $828,429.29
Less estimated disbursements:
Project #132-030-003 $ 2,797,888.42
Total Estimated Disbursements $2,797,888.42
Advance Amount (amount in excess of acct balance)$1,969,459.13
WHEREAS, repayment of the funds so advanced will be made in accordance with the
provisions of Minnesota Statutes 162.14, Subd. 6 and Minnesota Rules, Chapter
8820.1500, Subp. 10b, and
WHEREAS, the Municipality acknowledges advance funds are released on a first-
come-first-serve basis and this resolution does not guarantee the availability of funds.
NOW, THEREFORE, Be It Resolved: That the Commissioner of Transportation be and
is hereby requested to approve this advance for financing approved Municipal State Aid
Street Project(s) of the Municipality of Hopkins in an amount up to $1,803,270.66. I
hereby authorize repayments from subsequent accruals to the Municipal State Aid
Street Construction Account of said Municipality from future year allocations until fully
repaid.
I HEREBY CERTIFY that the above is a true and correct copy of a resolution presented
to and adopted by the Municipality of Hopkins, County of Hennepin, State of Minnesota,
at a duly authorized Municipal Council Meeting held in the Municipality of Hopkins,
Minnesota on the 16th day of April, 2024 as disclosed by the records of said Municipality
on file and of record in the office.
By:___________________________
Patrick Hanlon, Mayor
ATTEST:
_______________________________
Amy Domeier, City Clerk