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The total cost to BHV Innisfree Ventures I is $3,948,814.31, which is approximately <br />9.7% above the original agreed amount. Of this amount, $50,000 for the demolition of <br />two of the buildings will be reimbursed back to the Agency from the Developer upon <br />transfer of title to the Developer for the air rights for the ret~,il/cinema development. <br /> <br />Alternative <br />Do not accept the Realignment of Reinfomed Concrete Box Culvert in the Downtown <br />Area, which will be contrary to prior Council/Agency action. <br /> <br />Fiscal Impacts <br />The total amount approved by City Council/Redevelopment Agency, is $4,150,000 <br />which covers all construction, design, staff support, testing and inspection for the <br />Realignment of Reinforced Concrete Box Culvert in the Downtown Area Project. <br /> <br />Brian Lee "- Bruce Liedstrand <br />Senior Civil Engineer Community Development Services Director <br /> <br />Sus~ Moeiler -" Ed ~vere~ <br />Redevelopment Manager Oity Manager <br /> <br />BL::ss <br />s/library/reports/Brian/Acceptanance_RCBC Downtown2.9.04 <br /> <br /> Page 2 of 2 <br /> <br /> <br />