Laserfiche WebLink
Page 2 of 4 <br />Over the last 18 months, staff has been working with the community and our consultant <br />team on the environmental phase of the project. As the project has become more <br />defined, the construction costs have been updated to reflect additional detail. The <br />updated budget breakdown is: <br /> <br />Phase Original Budget Updated Cost Grant Request <br />Environmental $3,800,000 $4,000,000 $200,000 (RWC) <br />Design $6,100,000 $10,000,000 $3,510,000 (TA) <br />$390,000 (RWC) <br />Right-of-way $4,000,000 $32,000,000 $10,550,000 (TA) <br />$8,900,000 (RWC) <br />Construction $47,500,000 $118,000,000 <br />Other $6,800,000 - <br />Total $68,200,000 $164,000,000 $14,060,000 (TA) <br />$9,490,000 (RWC) <br /> <br />Higher project costs (largely driven by the cost of the project’s structures and required <br />right-of-way) have increased the required budget for the previously funded phases of <br />work (environmental and design). At this time staff, recommends the City: <br />· augment the environmental phase budget with City funds ($200,000) <br />· apply for additional design funding ($3.51M) and contribute additional City funds <br />($390,000) to fully fund the design phase <br /> <br />This approach will completely fund the design phase so that it can start as soon as the <br />environmental document is certified, anticipated in the second half of 2016. <br /> <br />Staff also recommends requesting right-of-way funds as part of this funding cycle. This <br />will allow the City to start right-of-way acquisition during the design phase, in advance of <br />the next Measure A funding cycle. Having right-of-way funding earlier will give the City <br />additional flexibility with respect to land acquisition, which could be important given the <br />changing real estate market. Having right-of-way funding sooner could also provide <br />opportunities to leverage these funds with other grant opportunities should they arise. <br />Staff recommends the City: <br />· contribute the City-owned right-of-way as local match to the project (est. value of <br />$8,900,000); and <br />· apply for half of the project’s right-of-way cost once the city-owned property has <br />been deducted ($10,550,000). <br /> <br /> <br />7.3.A. - Page 2