04/19/11 Work Session - Laserfiche WebLink

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Public Works Director Olson stated there are no guarantees with the rail station, but the City is working toward it. He noted the project cannot be delayed later than June 28 without enduring $300,000 or more in winter construction. Commissioner Elvig asked if Mr. Flaherty is confident he can raise the equity. Mr. Flaherty replied he knows that if he does have a deal, he can raise the equity. He said he is a little unsure of the lenders because of how they have responded so far. Commissioner Backous stated his concern of building a bigger ramp than is needed. He said he would rather have a purpose for it first. He preferred to not take a chance of building the ramp without this project. Commissioner Ramsey explained the addition will be constructed so something can be added to it, whether that is Flaherty Collins or something different. He stated he is almost sure the train station will happen. Public Works Director Olson stated the schedule was to authorize and advertise for bids in May and to open the bids June 21. It was decided that along with this schedule, the financing would be in place by June 1. If the State funds do not come in by June 1, that dictates how the funding will come in. He asked if this provides enough comfort to move forward with the ramp, as long as it was definite that the funding would be available. Mayor Ramsey pointed out the legislature will be finished by then, so the City will know the outcome by then. He stated the City does have a good chance for the CTIF funds if the State funds are not available. Commissioner Elvig pointed out Ramsey has the second highest ridership on the train, and there are no residences along the way and no train stop. Commissioner Tossey stated he would not put out bids for the ramp unless there is funding. Councilmember McGlone stated everything is interrelated including the train stop, the ramp, and the developers. This is the fastest growing corridor in the State already. There will be more developers waiting to build. He stated the City needs to find a way to keep the momentum going. Councilmember Backous stated he would feel more comfortable about the parking ramp if there was funding for the train. Public Works Director Olson pointed out almost half the ramp would be allocated to transit use. Councilmember Tossey stated he would still disagree. He noted he would be willing to explore the building of a train stop, but he felt the ridership wouldn't be high enough to warrant the ramp. There is empty space in there now. He explained without Flaherty and Collins taking up some of the need for it, he cannot be ok with funding it. Housing and Redevelopment Authority / April 19, 2011 Page 3 of 5