Laserfiche WebLink
O.0 -2 <br />revisions to the document. Subject to the approved design of the underground parking <br />facility and the estimated cost of construction, the parties will then enter into a Construction <br />and Reimbursement agreement for the construction of the garage. <br />Alternatives <br />1. Do not authorize. the City and the Agency to enter into the pre - construction design <br />services and reimbursement agreement for the underground public parking garage.. In <br />this case, the proposed underground public parking structure under Block One could <br />not be designed or constructed. <br />2. Direct staff to seek alternative solutions. <br />Fiscal Impact <br />The estimated cost of designing the underground public parking structure is approximately <br />$650,000. This $650,000 design fee has previously been included in the estimates for the <br />total cost of the parking structure. It is not a new cost. The funding forthis will be included <br />in the Redevelopment Agency bond issuance for the underground public parking garage <br />and other downtown projects. The initial cash outlay for this cost will be provided from the <br />$20 million that the City loaned to the Agency. This will be paid back from the proceeds of <br />the future bond issuance. <br />& z <br />Patricia J. Webb <br />Economic Development Coordinator <br />ruce Liedstrand <br />Community Development Director <br />usan Moeller <br />Redevelopment Manager <br />Ed Everett <br />City Manager <br />PW:cls <br />Attachments: <br />Pre - Construction Design Services and Reimbursement Agreement <br />F:\ REDEV\ preconstructiondesignstaffreport4 .28.03.doc 2 <br />