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HRA Regular Session 5. 3. Meeting Date: 12/13/2011 By: Heidi Nelson, Administrative Services Title: Update on Sunwood Realignment Feasibility Study and Authorization to Proceed with Appraisals Background: Work on the Feasibility Study for the Sunwood Drive Realignment project is progressing. An update was provided to the Public Works Committee earlier this evening and the draft Feasibility Study is attached to this case for review. The draft Feasibility Study will be reviewed with the HRA during the meeting. It is planned that the Feasibility Study will come back to the Public Works Committee in January with a financing plan defined. One component of the cost of the project is the potential right-of-way costs associated with the properties on the west side of Armstrong Boulevard. Staff has reviewed the appraisals that were conducted on the properties west of Armstrong in 2006 for the proposed Ramsey Crossings project. Staff recommends proceeding with new appraisals for three parcels west of Armstrong Boulevard for potential full or strip acquisition to facilitate the Sunwood Realignment and the eventual Armstrong Interchange project. To that end, staff solicited proposals from two firms to conduct the appraisals. The proposals are attached for review. The three parcels to be appraised include: 8020 147th Avenue NW 14590 Armstrong Boulevard NA 8019 146th Avenue NW Notification: No notification required for this review. Observations: Recommendation: Staff recommends that the HRA review the Feasibility Study and provide comment. Staff further recommends that the HRA authorize the proposal from Hosch Appraisal and Consulting in an amount not to exceed $13,500. Funding Source: HRA Fund Balance until such time land proceeds are available from sale of retail parcels. Council Action: Review the Feasibility Study and provide comment. Authorize the proposal from Hosch Appraisal and Consulting in an amount not to exceed $13,500. Attachments LPS Sunwood Drive Feasability Study WSB Sunwood Drive Feasibility Study Site Map Hosch Proposal