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Capital Improvement Plan <br />City of Elk River, Minnesota <br />2016 2020thru <br /> Description <br />Phase I expansion of Rivers Edge Commons Park. <br />Project #PR-71 <br />Priority n/a <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 <br />Riverfront concert series and draws thousands of people to the destination. In addition to concerts, weddings and events are held throughout the <br />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 />Useful Life Unassigned <br />Project Name Rivers Edge Commons Expansion-Phase I <br />Category Park Improvements <br />Type Improvement <br />Contact Park & Rec. Director <br />Department Park Development & Improve <br />Total20162017201820192020Expenditures <br />46,70046,700Planning/Design <br />382,000382,000Construction/Maintenance <br />428,700 428,700Total <br />Total20162017201820192020Funding Sources <br />78,34078,340GRE reserve <br />259,135259,135Park Dedication <br />13,20013,200Sewer Fund <br />17,13517,135Storm water utility <br />60,89060,890Street Improvement Reserve <br />428,700 428,700Total <br />Page 352016-2020 CAPITAL IMPROVEMENT PLAN