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<br />Cass County Engineer Federal Stimulus Funding Options based on <br />information available as of February 19, 2009 <br /> <br />Background: Cass County previously submitted two projects for consideration <br />for economic stimulus funding. The projects are a bridge replacement on Cass 7 <br />over the Maple River with an estimated cost of 650,000 and an overlay project on <br />Cass 4 with an estimated cost of $1 ,400,000. <br /> <br />We were notified on February 19 that we would receive between $888,000 and <br />987,000 in stimulus funding. In addition, it is likely but not certain that we would <br />receive additional stimulus bridge funds at 100% of cost for the C7 bridge <br />replacement. <br /> <br />Options: <br />I. Complete C7 Box Culvert and C4 Overlay <br />A. Pros <br /> <br />1. Spends all available stimulus funding <br />2. Get both projects done this year <br />B. Risks <br /> <br />1. Department could go up to $1.2 million over approved budget if <br />additional bridge stimulus funding is not received <br /> <br />2. Could result in having to borrow money if all anticipated stimulus <br />funding is not received and Governor's General Fund transfer <br />proposal is not approved <br /> <br />3. If all stimulus funding is received, County will still have <br />$500,000 in local cost for the County that has not been <br />budgeted. <br /> <br />C. Risk Management Strategy <br /> <br />1. Continue to lobby for federal stimulus and state funding and <br />closely monitor status <br /> <br />2. Consider possibility of cancelling a project prior to contract <br />award if stimulus funding and state general fund transfer do not <br />come together as expected <br /> <br />1 <br />