Planners will report this week on financing of the ‘Streetscape.’
Yes, planners say, there are alternatives to the recommended $20.6 million Winslow Way Streetscape plan. But none of them are very attractive.
“These options are not recommended, as they have profound impacts on the project schedule and budget,” says a report to be presented at a City Council workshop tonight at 6:30 p.m.
Set for construction in 2009, the streetscape project will replace failing infrastructure beneath Winslow Way, while adding surface improvements.
In all, four different options are presented in the report. The recommended option would replace the street’s utilities and add some above-ground elements while retaining the same amount of parking.
Two scaled down versions – one costing $13.7 million and the other $18.1 million – would include basic repairs, but in many cases would not meet standards or provide enough parking.
Both alternatives would have construction impacts on par with the recommended option, the report says.
A more elaborate, $33.7 million option isn’t recommended by planners because it’s too expensive and would provide a “limited return for the community.”
The project’s budget and financing, along with nine other components, also are outlined in the report.
The cost would rise an estimated $2 million for each year of delay. The budget assumes one six- to nine-month construction contract. That includes construction costs – estimated at 55 percent of the budget – as well as property acquisition and design costs. It also assumes an escalation rate between eight and 14 percent.
Escalation costs would make it unwise to break the project up into phases, as some have suggested, the report says.
Three funding sources have been targeted by the city, including a potential $6.25 million in grant money. The rest would come from the city’s general fund and user fees.
Other components in the report include permitting, drainage, transportation and sustainability associated with the project.
The city will host a public meeting on Sept. 10 to present updated designs and funding strategies, and take public comment about the plan.
The final design will be presented to the public on Oct. 18, and to council for design approval on Oct. 24.
