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Phase 2 Cost estimate <br />Item Cost <br />Land acquisition* $800,000 <br />Site preparation $53 500 <br />... . <br />Environmental cleanup $207,500 <br />Sanitar sewer $53,700 <br />Storm sewer $100;200 <br />Water main $129,700 <br />Road. and sidewalk $1,035,300 <br />Streetscaping $340,200 <br />Construction Oversight $192,200 <br />Total $2,912,300 <br />~`Appr~aximately $770,000 of this cost has already been incurred. <br />The City has funding in place to complete this project. Approximately $770,000 of Phase 2 <br />project costs were incurred as part of the land acquisition process undertaken for the Phase 1 <br />project, which leaves approximately $2.13 million to fund: DEED awarded the City a $1 million <br />grant for the this project; however, if the City wants to utilize these funds, activities must be <br />completed during the 2010 construction season as the funds will expire on December 31, 2010. <br />The City applied for and has been awarded approximately $200,000 in funding for environmental <br />cleanup from Ramsey County, which should offset the City's cost to remediate the right of way. <br />1~inally, the City has available pooled tax increment to f11 the remaining project gap. <br />Staff is proposing the following timeline for the Phase 2 project. <br />• March 2010: Approve plans and specifications and order the advertisement forbid <br />• April 2010: Award bids <br />• May 2010: Begin construction <br />• September 2010: Complete construction <br />Recommended Action: <br />Discuss Twin Lakes Redevelopment Public Infrastructure- Phase II. <br />Attachments: <br />A. General Layout <br />B. Twin Lakes Parkway Plan Sheet <br />C. Prior Avenue Plan Sheet <br />