Agenda Date: January 20, 2015
Subject:
Title
City council and SSPR approval of Riverside Downs Master Plan
Body
Presented By: |
Mike Braaten, Deputy City Manager |
POLICY QUESTION:
Does city council support the approval of the Riverside Downs at the South Platte River Master Plan?
BACKGROUND:
The master plan for this project has recently been completed by DHM Designs. The design and engineering work was funded by the city and through a grant from Arapahoe County Open Space - South Platte Working Group dedicated funding. The total design and engineering budget for the project was $140,000.
STAFF ANALYSIS:
The master plan was coordinated with staff at South Suburban Park and Recreation District and Littleton Capital Partners, representing the shopping center owners. The three partners are developing an operations and maintenance agreement for the project and it is anticipated council will consider that agreement in February.
FISCAL IMPACTS:
The construction cost is estimated to be approximately $1,060,000. Council has dedicated $900,000 in its budget for completion of the project in 2015. Littleton Capital Partners, representing the Riverside Downs Shopping Center owner, has committed $60,000. Staff recently submitted a Joint Project Grant request to Arapahoe County Open Space to buy down the city's share and leverage the city's funds. The request for funding to Arapahoe County Open Space totaled $498,352.
STAFF RECOMMENDATION:
Staff recommends city council approve the master plan as presented.
PROPOSED MOTION:
Proposed Motion
I move to approve the Riverside Downs at the South Platte River Master Plan.