Agenda - Parks and Recreation Commission - 01/11/2018

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