HomeMy WebLinkAbout5A2 Supplemental Budget Request (Property acquisition for future Coal Line Multiuse Trail)
Redevelopment Commission Agenda Item
DATE: December 10, 2020
FROM: Tim Corcoran
SUBJECT: Supplemental Budget Request (Property acquisition for future Coal Line Multiuse
Trail)
Which TIF? (circle one) River West; River East; South Side; Douglas Road; West Washington
PURPOSE OF REQUEST:
Staff requests the Redevelopment Commission's approval of $600,000 for acquisition of the
remaining properties necessary for the future Coal Line Multiuse Trail. Property acquisition will
entail the purchase of 2 additional vacant parcels containing approximately 10.5 acres from a
single property owner. This is the last major piece of the Coal Line Trail puzzle securing the
property from Lincolnway West to Holy Cross College. Project construction is expected to
commence in Spring 2021 and be completed by end of 2022 over 2 separate phases.
INTERNAL USE ONLY: Project Code: _______________________________________________;
Total Amount new/change (inc/dec) in budget: $600,000 ; Break down:
Costs: Engineering Amt: ______________________; Other Prof Serv Amt_________________;
Acquisition of Land/Bldg (circle one) Amt: __$600,000 ______; Street Const Amt __ _____;
Building Imp Amt_________; Sewers Amt_________; Other (specify) Amt: ________________
___________________________________________. Going to BPW for Contracting? Y/N
Is this item ready to encumber now? ____ Existing PO#__________ Inc/Dec $_____________