AgdaPkt 2006-06-26 - Laserfiche WebLink

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68 Page 6 6. Way-Findina and Pedestrian Linkaaes. The Way-Finding Program approved by the Council in April, 2006 will enhance the experience of Downtown as a distinct and unique place comfortable to everyone, whether on foot or in a car. An interim program will be in place to guide visitors to the theatre district and parking facilities by the time the Cinema opens in July. The permanent program will be installed in late fall. A new concept plan has been developed for enhancing the gateway and pedestrian experience on Middlefield between Veteran's Blvd. and Broadway. It is scheduled for Council review in July. The interim way-finding efforts will include banners on Middlefield as a way to celebrate this entrance to the theatre district, as well as to highlight the free parking available during peak activity hours in the County garage. The Post Office Paseo concept has also been approved by Council. The landscape architect is currently preparing construction documents. The portion of the project that involves new parking between the post office and city hall will proceed separately in order to transfer the short term parking off of Jefferson as soon as possible. Staff is finalizing negotiations with the operator of the adjacent restaurant for the sublease for use of part of the Paseo for outdoor dining. It is anticipated the construction of the improvements will be completed by the end of the year. Agency Capital Improvement Program The Agency's proposed general fund Capital Improvement Program (CIP) budget for FY 2006/07 provides additional capital funding in the amount of $699,514 for contingency purposes and assisting critical pioneering development. It also adds back the $175,000 for "Child Care Site Acquisition. used during FY 2005/06 to help fund the cost of the environmental impact report for the Downtown Precise Plan. The money for "Contingency" should be viewed as a reserve fund to help fund projects and opportunities that have yet to surface or be identified. The childcare site funds will help support the development of the Bradford Site with senior housing and, if approved by Council, a childcare facility to serve the needs of downtown families, residents and workers. A $1.2 million operating reserve has been budgeted as well. Tax increment projections have been adjusted downward to address the issue of property tax appeals that are ongoing and that cost the Agency about $400,000 in the current year. The Agency's CIP also reflects the two HIP grants received from C/CAG ($163,590) and MTC ($387,900), which are allocated to support the Post Office Paseo improvements and the Directional Signage and Way-Finding efforts. Agency Operating Budget The Agency's general operating budget remains basically the same with the exception of additional funding for "Economic Developmenf' and the marketing and promotion of downtown, and for "Storefront Improvements". Staff is looking at revamping the Storefront Improvement Program and seeking Council review of the new criteria early in the fiscal year. In the meantime, because of the current high level of interest in the program, funding will be made available under the current program guidelines. Interest payments on the City loan to the Agency have also been included in the FY 2006/07 budget. This is repayment on the $3 million loan that was part of the Downtown Funding Plan adopted by the Council in 2003. The general operating budget for FY 2006/07 reflects revenue projections based upon the same formula for deposits to the housing fund as FY's 2003/04, 2004/05 and 2005/06. Staff 1:2006 STAFF REPORTS AND AGREEMENTS_06-2006_Budget 3 '_' '''_.'~ .",.'O"_'_~'."'_"~"""_~"'''''''-~'_.'"'.''''''''_'''_''^~~_'_'_~'_____~_"__..._.....~._._.._