HomeMy WebLinkAboutResolution No. 014-25 - Resolution - Amendment to the Economic Vitality Project
RESOLUTION
Approving the Amendment to the Economic Vitality Project.
WHEREAS, the City Council adopted an amendment to the Capital Improvement Plan (CIP)
On November 4, 2024; and
WHEREAS, funding sources were approved, including revisions to how local sales tax
proceeds are used; and
WHEREAS, this project amendment formally approves the use of the 2024 and 2025 Sales
Tax proceeds to a total of $9,230,000 for both years, specifically $3,390,000 for 2024 and
$5,840,000 for 2025.
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of Rochester,
MN that City adopts the Economic Vitality project amendment as set forth in writing in the
appended document.
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS __________ DAY OF _______________, 2025.
___________________________________
PRESIDENT OF SAID COMMON COUNCIL
ATTEST: __________________________
CITY CLERK
APPROVED THIS _____ DAY OF ______________________, 2025.
___________________________________
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)
Appendix
Proposed
spending Economic Flood Control Street
timeline Vitality & Water Quality Reconstruction Annual Amount
2024 $3,390,000 $0 $531,611 $3,921,611
2025 $5,840,000 $1,000,000 $2,500,000 $9,340,000
2026 $3,685,000 $2,500,000 $2,000,000 $8,185,000
2027 $5,565,000 $2,500,000 $4,000,000 $12,065,000
2028 $2,020,000 $1,000,000 $5,000,000 $8,020,000
Phase 1 Total: $41,531,611
Total $20,500,000 $7,000,000 $14,031,611
Percentage 49.4% 16.9% 33.8%