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Capital Improvement Plan <br />City of Elk River, Minnesota <br />Project # PR -71 <br />Project Name Rivers Edge Commons Expansion -Phase I <br />Type Improvement <br />Useful Life Unassigned <br />Category Park Improvements <br />Description <br />'hase I expansion of Rivers Edge Commons Park <br />2016 thru 2020 <br />Department Park Development & Improve <br />Contact Park & Rec. Director <br />Priority nla <br />Justification <br />n 2015, a final concept plan was developed for the ultimate improvements to the Rivers Edge Commons Park This park is home to the <br />6verfront concert series and draws thousands of people to the destination. In addition to concerts, weddings and events are held throughout the <br />ng has become limited with the growth of the demand for the park, Phase I will include adding additional seating and replacing a retaining <br />on the city owned public parking lot. <br />Expenditures <br />2016 2017 <br />2018 2019 2020 Total <br />Planning/Design <br />46,700 <br />46,700 <br />Construction/Maintenance <br />382,000 <br />382,000 <br />Total <br />428,700 <br />428,700 <br />Funding Sources <br />2016 2017 <br />2018 2019 2020 Total <br />GRE reserve <br />78,340 <br />78,340 <br />Park Dedication <br />259,135 <br />259,135 <br />Sewer Fund <br />13,200 <br />13,200 <br />Storm water utility <br />17,135 <br />17,135 <br />Street Improvement Reserve <br />60,890 <br />60,890 <br />Total <br />428,700 <br />428,700 <br />2016-2020 CAPITAL IMPROVEMENT PLAN Page 35 <br />