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MAJOR CAPITAL PROJECT DESCRIPTION <br />FOR S.'EARS 2005 - 2008 <br />River Glen Business Park Expansion $2,250,000 (2005) <br />This project consists of acquisition, demolition, infrastructure and parking improvement activities <br />to expand the River Glen Business Park in downtown. Special attention will be paid to urban design <br />and amenities, landscaping and lighting. T'wo parking options will be reviewed: the expansion of <br />the existing surface lot or the construction. of a mid-sized parking deck. This project will enable <br />existing businesses to remain and expand in the downtown while creating new opportunities for <br />business attraction. It will also improve the pedestrian connection to the downtown core. <br />Fundin Source <br />Redevelopment Activity/Commission <br />Activi , Date Lease TIF Revenue Bond <br />2005 $2,250,000 <br />TOTAL $2,250,000 <br />Projected Ongoing Operating Cost Impact <br />No net increased ongoing operating costs are projected for this project. Several proposed street <br />closings could reduce City operating costs that offset any minor increases incurred for the remainder <br />of the project. <br />Downtown Medical Services District $3,000,000 (2005-2007) <br />This project consists of acquisition, relocation and demolition activities and improvements to the <br />street system, traffic control, streetscape ar~d related public improvements adjacent to and serving <br />the Memorial Health Systems (NIBS) Campus. The project area is bound by Leeper Park (north), <br />LaSalle Avenue (south), Lafayette Blvd. (west) and St. Joseph Street (east). The Citywill undertake <br />public improvements and site assemblagE; activities in conjunction with MHS expansion and <br />development plans and related health and medical service providers. The City's improvement plan <br />would also be implemented to improve and preserve the surrounding residential neighborhoods. <br />Funding Source <br />Redevelopment Commission Revenue <br />Bonds (Private Placement), Local <br />Roads and Streets Fund (LRSA), <br />Water Works and Sewage Works <br />Capital Funds <br />Activity Date <br />2005 $ 300,000 <br />2006 1,400,000 <br />2007 1,300,000 <br />TOTAL $3,000,000 <br />D-38 <br />