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MAJOR CAPITAL PROJECT DESCRIPTION <br />FOR ~tEA,RS 2005 - 2008 <br />Projected On oing_ erating Cost Irri~act_ <br />No increased operating cost impact is projected for this project. Several proposed street closings <br />could reduce ongoing City operating costs. <br />Bendix Street Development Area <br />$4,400,000 (2005-2008) <br />This project consists of street realignments, acquisition, relocation, demolition, infrastructure <br />improvements and facility rehabilitation in an area bound by Bertrand, Olive, the railroad tracks and <br />Bendix. The project will enable Honeywell and Bosch Corporation to improve their facilities and <br />sites as part of a business retention and expansion effort. <br />Activit,~Date <br />2005 $1,300,000 <br />2006 900,000 <br />2007 1,700,000 <br />2008 500.000 <br />TOTAL $4,400,000 <br />Funding Source <br />Airport Economic Development Area <br />Tax Increment Fund (AEDA T1F), <br />Local Roads and Streets Fund <br />(LRSA), Water Works and Sewage <br />Works Capital Funds, State Loan and <br />Grant Funds, Local Development <br />Corporation Loans, County <br />Economic Development Income Tax <br />(EDIT) Funds <br />Projected Ongoing Operating Cost Impact <br />No additional operating costs to be incurred by the City are projected for this project. <br />Howard Park Residential Development ]Project $2,750,000 (2005-2007) <br />This project consists of the provision of infrastructure improvements, street reconfigurations, <br />landscaping and park improvements, parking, lighting and urban amenities to support the <br />development of market-rate housing development. The private developments will include single <br />family houses, townhouses and mid-risf; apartment buildings and small scale commercial <br />development within an area bounded by the St. Joseph River (south), Jefferson Street (north), Eddy <br />Street (east) and Howard Park (west). The C;ity's public improvement and infrastructure investment <br />will be tied to the private investment and development schedule. <br />Funding Source <br />Local Roads and Streets Fund <br />(LRSA), Park Capital and County <br />Option Income Tax (COIT), Water <br />Works and Sewage Works Capital <br />Funds <br />D-39 <br />