AgdaPkt 2003-11-03 - Laserfiche WebLink

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i Attachment I Downtown Fuming Plan The implementation of the Council /Agency Board priorities and actions regarding the Retail /Cinema project, the 0ourthouse Facade Restoration and Plaza Project, and the implementation planning fog the Downtown Plan are incorporated into a multi -year Capital Budget or "Downtown Funding Plan" summarized as follows: Parldng Improvements $19,175,000 Estimated soft costs and construction costs for the underground public parking structure on Block 1; parking control equipment for parking management throughout the downtown; as well as costs for expanding and re- striping Block 2 parking lot. Land Assembly $ 2,000,000 Remaining net land assembly costs to be funded for parking obligations pursuant to the DDA for the Retail /Cinema Project, including Block 1 and Block 2. This amount is net of the developer's $7.5M payment for the air rights to construct the Retail /Cinema project over the parking structure, as well as the monies allocated in the 2002 -03 "Current Capital Projects for parking. Culvert $ 3,800,000 Estimated cost to relocate the culvert so the underground public parking structure can be built. Streetscape Improvements $ 1,675,000 Estimated cost to construct improvements for "Theater Way" between Broadway and Winslow, and modifications to Broadway for proposed protected drop -off for Cinema and Fox Theater. This concept was approved by the City Council /Agency Board in the Joint Study Session in March, 2003. Courthouse Plaza $ 6,483,190 Estimated hard and soft costs associated with the demolition of the Annex on Broadway, the restoration of the facade of the Courthouse, and the construction of the proposed new plaza. Miscellaneous Downtown Projects $ 650,000 Estimated costs to Theater Way 2 (Middlefield between Broadway and Veteran's Blvd); gateway improvements and directional signage for downtown; enhanced public open spaces; Winslow realignment; and improvements to redirect traffic back unto Broadway. These improvements help implement the Downtown Plan and reflect direction received in the Joint Study Sessions with the Council /Agency Board, Planning Commission and the Architectural Review Committee. Money originally budgeted to fund a fountain in the plaza between City Hall and City Center Plaza will be redirected to this project. Development Incentives/Contingency $ 3,067,000 Estimated costs for offsite reimbursements for the Franklin Street Apartments; downtown precise plan; possible incentives for private development projects; and contingency for unforeseen opportunities and expenses. 1 -1