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Capital Improvement Plan 2016 lh,, 2020 <br /> Department Park Development&Improve <br /> City of Elk River, Minnesota Contact Park&Rec.Director <br /> Type Improvement <br /> Project# PR-71 Useful Life Unassigned <br /> Project Name Rivers Edge Commons Expansion-Phase I <br /> Category Park Improvements <br /> Priority n/a <br /> Description <br /> Phase I expansion of Rivers Edge Commons Park. <br /> Justification <br /> In 2015,a final concept plan was developed for the ultimate improvements to the Rivers Edge Commons Park. This park is home to the Riverfront <br /> concert series and draws thousands of people to the destination. In addition to concerts,weddings and events are help throughout the year. <br /> Seating has become limited with the growth of the demand for the park,phase I will include adding additional seating and replacing a retaining <br /> wall on the city owned public parking lot. <br /> Expenditures 2016 2017 2018 2019 2020 Total <br /> Planning/Design 46,700 46,700 <br /> Construction/Maintenance 382,000 382,000 <br /> Total 428,700 428,700 <br /> Funding Sources 2016 2017 2018 2019 2020 Total <br /> GRE reserve 78,340 78,340 <br /> Park Dedication 259,135 259,135 <br /> Sewer Fund 13,200 13,200 <br /> Storm water utility 17,135 17,135 <br /> Street Improvement Reserve 60,890 60,890 <br /> Total 428,700 428,700 <br /> 2016-2020 DRAFT CAPITAL IMPROVEMENT PLAN <br />