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<br />Alternatives <br />1. Do not authorize the City and the Agency to enter into the first amendment to the <br />construction and reimbursement agreement for the underground public parking garage. <br />In this case, the proposed underground public parking structure would not be <br />completed as designed, and construction of the garage and Retail/cinema project would <br />be delayed. <br />2. Direct staff to seek alternative solutions. <br /> <br />Fiscal Impact <br />The estimated cost of the revised construction budget for the underground parking garage <br />is approximately $1.35M over the previous allocation but does include allowances for <br />exterior signs, interior murals and a City contingency. The funding for this will be <br />appropriated from other Downtown Funding Plan allocations and will be presented to the <br />Council/Agency at a future meeting. <br /> <br />. ,/ /14v-,d <br />f' \..\patricia J. Webb <br />. 1.. Economic Development Coordinator <br /> <br />, 1 <br />/ <br /> <br /> <br />1/ ~~~ <br />I" / <br /> <br />~.{ .J-/I/1/t ;/ .'-'t- <br />, Susan Moeller ' <br />Redevelopment Agency Manager <br /> <br />//?, /'þ <br />~ / . ! <br />\ .' /1/ j . <br />/Í )L-. , <br />, .... <br />Ed Everett <br />City Manager <br /> <br />;' , <br />...// <br /> <br />Jo Patterson <br />/ Community Development Director <br /> <br />Attachment <br />Amendment No. One to Construction and Reimbursement Agreement <br /> <br />PW:ce <br />liST AFF REPORTS/11-2004/Garage Reimbursement Agreement Amendment 1 <br /> <br />11 /3/2004 <br /> <br />Page 3 of 3 <br />