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REPORT <br />To the Honorable Mayor and City Council <br />From the City Manager <br /> <br />June 26, 2017 <br /> <br />SUBJECT <br />Approval of Agreement to Fund Required Improvements for the Development at 550 <br />Allerton Street <br /> <br />RECOMMENDATION <br />Adopt a resolution (1) approving and authorizing the City Manager to execute an <br />Agreement to Fund Required Improvements for the development at 550 Allerton Street, <br />and (2) approving an appropriation amendment to the Fiscal Year 2016-17 Various <br />Transportation Grants Fund to increase expenditures by $90,736 <br /> <br />BACKGROUND <br />On June 10, 2015, the Subdivision Committee and Zoning Administrator respectively <br />approved a Tentative Parcel Map and a Downtown Planned Community Permit for the <br />development of an office building at 550 Allerton Street. The project began construction <br />later that year. Condition 17(e) of the conditions of approval of the project require that <br />the developer enter into an agreement with the City for off-site improvements at the <br />intersection of Winslow, Bradford, and Allerton Streets. These improvements are known <br />as the Winslow Street, Bradford Street and Allerton Street Pedestrian Enhancements <br />Project (“Project”). <br /> <br />ANALYSIS <br />The developer of the 550 Allerton Street project is responsible for 30% of the costs <br />associated with the Project. The proposed Agreement lays out terms for the developer <br />to pay its fair share when the City constructs the Project. With execution of the <br />Agreement, the developer will provide an initial deposit to the City covering the <br />developer’s estimated share of project design, construction and construction <br />management costs. <br /> <br />Staff is currently coordinating with the developer’s engineer to complete the construction <br />documents for the Project. Project improvements will consist of a continuous sidewalk <br />along Winslow Street, closing access to Winslow Street from Allerton and Bradford <br />Streets. Bulb-outs, street trees, pedestrian lights, drainage and striping will be installed <br />to enhance pedestrian connectivity and increase safety for all roadway users. The <br />6.3.B. - Page 1