Fiscal Note
The 2011 Parks Capital Budget contains funding of $1,916,040 for Project #31 "Central Park - Brearly Square", including $1,466,040 of General Obligation Debt (of which $836,040 is TIF reimbursable) and $450,000 of funding from Park Development Fees. Approximately $1,665,800 of this amount has been committed to the purchase of the Research Products property, per resolution RES-11-00314 (Legistar #21849). The Adopted Capital Improvement Plan anticipates further Central Park funding of $4,970,000 in 2012, $1,200,000 in 2013, and $1,874,080 in 2014.
It is anticipated that with the expanded scope of this project an addendum will be required for the Contract for Design Professionals with MSA Professional Services. A subsequent approval will be obtained to modify the scope of work under separate resolution. Inception to date, approximately $604,612.11 has been expended or encumbered for the Central Park project, including $572,333.60 for planning and design.
Title
Amending the Final Report of the Central Park Design and Implementation Task Force.
Body
WHEREAS, on April 20, 2010 the Common Council approved the Final Report of the Central Park Design and Implementation Task Force (Central Park Master Plan), and,
WHEREAS, on January 26, 2010 the City entered into a Contract for Design Professionals for Central Park (Contract No. 6409) with MSA Professional Services, and,
WHEREAS, the original Contract for Design Professionals anticipated construction of the Great Lawn, Gateway Crossing/Mile”0” Plaza, North and South Arrival Plazas and other improvements as based on the Final adopted Central Park Master Plan, and,
WHEREAS, in 2010 Research Products Corporation, owners of the property located at 204 S. Ingersoll Street, immediately adjacent and within the boundaries of Central Park, approached the City to gauge interest in having the City purchase said property, and,
WHEREAS, the City and Research Products Corporation on March 10, 2011 signed a Let...
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