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of something around$100,000 per impervious acre— and using the northwest quadrant of the COR to demonstrate how this <br /> might work,take the approximately 30 acres(north of the parkway and west of the Lake Ramsey),multiplied by 80%impervious <br /> land cover (buildings, parking lots, streets, etc.) equals 24 acres, multiplied by $75,000 per acre (mid-range cost for shared <br /> approach)and the City would receive$1,800,000 from property owners/developers to design and build the system(see Estimate <br /> of Probable Construction Costs—Greenway Trail+Stormwater Management Corridor). <br /> 2. Define permanent stormwater/utility/recreation/access easements(that run with the land)that will reserve adequate acreage to <br /> accommodate district system design and construction. <br /> 3. Draft agreements (we have a successful template/model for this) between property owners/developers and the City to clearly <br /> define relationships,roles/responsibilities,timelines and other considerations. <br /> Scenario 3 - Metropolitan Council - Livable Communities Demonstration <br /> Account (LCDA) <br /> This Scenario is based on recent success securing grant monies from the Metropolitan Council to support design and construction of <br /> public realm improvements.Over the past several years,their project selection/award criteria has changed somewhat to reflect more <br /> contemporary and innovative development approaches.Toward that end,they are no longer funding purely infrastructure projects, <br /> but are more interested in proposals that link specific development sites with <br /> public transit,district systems(stormwater,parking,etc.)and creative design <br /> of`signature public places'. <br /> For example, in a recent successful application for the Prospect North <br /> Redevelopment District, the Metropolitan Council LCDA awarded one <br /> million dollars for improvements to Fourth Street (named"Green Fourth"), <br /> but also to be shared with the adjacent Cornerstone Development (mixed- <br /> use, housing over retail). Basically this one-third, two-thirds split is a <br /> mandate intended to thoughtfully integrate design solutions for both _ <br /> projects, including streetscape, stormwater management and other district <br /> system elements. <br /> > wee <br /> Strategies: <br /> 1. Seek willing development partners who will participate in shared-project <br /> scenarios similar to the example described above;with a specific focus <br /> on joint funding applications to help pay for various elements of your <br /> proposed signature parks and public spaces. <br /> 2. Carefully blend the interface between public and private property, <br /> particularly along the edges of proposed signature parks and public <br /> spaces,promoting flexible use,vibrant/inviting destinations and universal access.This will build a strong case for shared funding <br /> while illustrating the many shared benefits of an integrated design and project implementation approach. <br /> Public Realm Framework+Cost Evaluation 13 <br />