Resolution authorizing the City Manager to submit an application to the Minnesota Department of Transportation for a Transportation and Economic Development (TED) Program Grant for the Local Share of Improvements on US Highway 169.

Adoption of the attached resolution. 

MnDOT’s Transportation and Economic Development program (TED) is a competitive funding program designed to help generate economic benefits through investment in transportation infrastructure. In this round of the TED Program, $4.445 million is available in Greater Minnesota for projects in calendar years 2025-2027. Funding available under the TED program can only be used on trunk highway eligible projects. Under this competitive solicitation, project points are awarded based on contributions to transportation and economic development with additional considerations for non-MnDOT funding and a project risk assessment.
 
The maximum grant award per project is up to 70% of the total transportation infrastructure cost. The proposed project must have a trunk highway purpose. It must improve, enhance or modify a state trunk highway or highway right of way. Applications must be submitted by September 9, 2024, and selected projects will be notified in December 2024.
 
Staff recommend submission of a TED grant for local costs associated with the upcoming TH 169 project. The proposed improvements in the City of Mankato will construct a new roundabout intersection at North River Lane and TH 169. This new intersection will provide improved access to current businesses and proposed development as identified in the Riverside North Area Wide Plan. This plan identified several sites that would support mixed-use development, creating both needed housing and employment opportunities.