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REQUEST FOR ACTION <br />To Item Number <br />City Council 5.1. <br />Agenda Section Meeting Date Prepared by <br />Administration May, 12, 2008 Bill Maextz, Parks and Recreation <br /> Director <br />Item Description Reviewed by <br />Consider Authorization of River Walk Project Loxi ohnson Ci Administrator <br /> Reviewed by <br />Action Requested <br />Authorization of River Walk Project. <br />Background/Discussion <br />In 1995 the City formed a Riverfront Corridor Committee to study the feasibility of developing <br />recreational access to the Mississippi River in downtown Elk River. The plans that emerged from that <br />process included the downtown park, trails, and a scenic overlook on the east side of the Parrish Avenue <br />Bridge. With the completion of the park in 2007, staff has focused efforts on phase one of the link from <br />downtown to Babcock Memorial Paxk. Staff has applied fox and received a use permit from MNDOT fox <br />construction of the trail ut MNDOT right of way. Staff believes the construction of the overlook and trail <br />section strengthens the potential fox grant opportunities. <br />Attached please fmd the updated concept design fox the trail head and scenic overlook and cost estimates. <br />The Elk River Rotary Club has committed $60,000 towards this project with the understanding that the <br />City completes the project in summer 2008 and receives reimbursement from the Rotary club over the <br />next three years. The cost estimate is $77,335; however, given the current bidding environment there is a <br />possibility that the project cost may be less. Staff is proposing that this project be run through the <br />Development Fund. Rotary monies will cover the majority of the project with the balance being covered <br />by the Development Fund. There is precedent of using this fund for recreational resources that enhance <br />downtown, as it helped fund River's Edge Commons. <br />Financial Impact <br />Cost Estimate $77,335 <br />Rotary Contribution $6Q,000 <br />Balance to be paid for by Development Fund <br />Attachments <br />• Concept Design <br />• Budget Estimate <br />• Letter of Commitment from Rotary <br />• Stax News Article from 1995 <br />C:ADocumencs and Settings\jmillex\l,ocal Settings\Tempo~ary Intemec FilesVOLK3E\Action Requested Rivec IX/alk.doc <br />