6.4. SR 01-22-2001 - Laserfiche WebLink

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