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5.0. 6.0. 7.0. 8.0. 9.0. HRSR 01-22-2001
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5.0. 6.0. 7.0. 8.0. 9.0. HRSR 01-22-2001
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1/22/2001
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CBD Project <br /> January 22,2001 <br /> Page 3 of 4 <br /> • Staff doesn't think that the Cobblestone or Symetry paver only along the <br /> curbline ($237,000 for either), or the Cobblestone or Symetry paver only at the <br /> intersections ($216,000 for either) is enough of a downtown sidewalk design. I <br /> don't believe anyone wants the 100% flat gray concrete sidewalk, but for your <br /> information, that cost is estimated at $183,000. All of the costs being noted <br /> include the cost of removal of the old sidewalk, a 5% contingency, 10% for <br /> overhead, and $25,000 for miscellaneous work. <br /> At this time the King and Main developer is willing to pay 100% of their <br /> sidewalk if it is a solid paver sidewalk. All of the cost estimates exclude this <br /> King and Main intersection. Discussion has not taken place regarding the <br /> developer's feelings for paying 100% of the sidewalk if the city requires a <br /> combination paver/flat gray concrete sidewalk in this location. <br /> It should be noted that all of the costs listed are most likely going to be <br /> reduced by about $20,000 as we work with the Utilities on their improvement <br /> project. In general, the Utilities need to remove the sidewalk on the entire <br /> north side of Main Street and they will pay this cost provided that the city <br /> pays the replacement cost. This seems reasonable and it is estimated that <br /> their expense will be about $20,000 and a direct reduction in the project <br /> figures. As an aside, the Utilities have indicated that they would like to <br /> Scomplete their project prior to the Arts Soup Festival (June 22) rather than <br /> after. <br /> HRA FUNDS <br /> The HRA has an anticipated 12/31/00 fund/cash balance of approximately <br /> $90,000. Additionally, the 2001 budget shows a surplus of$51,000 for projects <br /> that are undetermined at this time. This type of budget surplus could continue <br /> for the next few years and, if desired, applied to a sidewalk project. In addition <br /> to the HRA tax monies, the TIF project at King and Main needs to repay the <br /> HRA for its net investment into this redevelopment project. This repayment of <br /> $293,000 begins in 2003 with $49,000 and continues until the investment has <br /> been recaptured. <br /> Accordingly, if desired, the HRA can afford part or all of a sidewalk project <br /> over the next few years, even if the total cost of a sidewalk replacement <br /> program is in the $275,000 range. <br /> • <br />
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