Agenda - Economic Development Authority - 10/13/2022

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Economic Development Authority(EDA) 4. 1. Meeting Date: 10/13/2022 Submitted For: Sean Sullivan, Community Development By: Sean Sullivan, Community Development Title: Request Recommendation to Complete COR Site Improvements,Infrastructure and Wetland Analysis Purpose/Background: The purpose of this case is to consider a recommendation to complete COR infrastructure and wetland analysis. On January 18, 2022 the Public Works Committee discussed the COR Site improvement and Infrastructure needs and asked staff to obtain cost estimates for the work. The EDA meeting in February 2022 and supported getting more information. Staff has not been able to complete the work in-house so Staff asked Bolton and Menk (they completed the previous COR infrastructure Study) to put together proposals to complete analysis and cost estimates on completing the following items: • Ramsey Parkway from Willemite Street to Sunwood Drive (Roundabout) • Zeolite Street from Sunwood Drive to Bunker Lake Boulevard, • Yolite Street from Sunwood Drive to Ramsey Parkway, • Center Street Realignment, • Veterans Drive between Rhinestone Street and Ramsey Boulevard, • The Waterfront Pond and Park Area, • Filling of stormwater ponds in the southeast quadrant of the Bunker Lake Boulevard and Armstrong Boulevard intersection • Filling of a wetland in the southeast quadrant of the Bunker Lake Boulevard and Armstrong Boulevard intersection and related analysis. Bolton and Menk has provided two proposals that cover the work needed to provide feasibility and costs of completing the work. Construction and contracting costs have changed significantly since the last time analysis was done in 2018. During initial investigation it has become apparent that the wetland analysis and delineation need to be completed to determine the feasibility of the wetland and stormwater pond relocation and coordinated excavation of The Waterfront to make Parcel 46 a developable lot by adding fill excavated from The Waterfront to it. Staff has already asked Bolton and Menk to begin work on the wetland delineation component due to the time of the year and ability to complete the delineation while vegetation is still identifiable. There is additional work and analysis that is included in the attached wetland proposal that is also underway. Many of these items are interrelated and should be coordinated to maximize efficiency to compete the work. Staff has been told that there should be information regarding the status of the wetlands by the time of the EDA meeting that will help guide decision making moving forward. Kevin Kielb from Bolton and Menk will be present at the meeting to provide an update and to answer questions on the proposals. Some of the items in the proposals (streets, site improvements, cost of study) could be paid for in full, or in part by TIF District 14. In order to be able to fund these items out of TIF 14 the work needs to be completed or in process prior to November 2023. Based on this short time period, staff is suggesting that costs are quantified as soon as possible so that the City Council and determine which projects should move forward and how they can be funded most efficiently. The work being proposed is consistent with the mission of the EDA by helping facilitate and encourage quality development.