Agenda Packet 10-22-18 Work Session

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October 22, 2018, Work Session – Item 2 authorize the City Manager to award a construction contract. (See “Infrastructure” section below.) • Budget authorization for the infrastructure. Affordable Housing Parcel – Potential Configuration At the July 23 work session, the Agency Board revised the terms with WDA to include the sale of lot 10A to WDA to build no fewer than 75 affordable housing units. The housing would be affordable to households at or below 60 percent of the area median income. WDA plans to release a request for proposals to move forward with partnering with an affordable housing provider both for the construction of the units and the ongoing management of those units. Since the July 23 work session, WDA has done further concept planning and has a potential configuration of lot 10A that could increase the number of affordable housing units to 100 with corresponding parking increase as well as a minimum of 35 additional parking spaces available to the public. Additional parking anticipated to be available to the public under this scenario is an estimate and may actually be more than 35 spaces depending on the ultimate needs of residents in the building. Under this concept, the six-story building would have a steel and concrete podium, which would increase the overall cost of the project. The public parking would support park users, community members accessing the Downtown Riverfront site, and visitors to the Steam Plant. This proposed design would need public investment in order to create the public parking within structured parking facility. Should the Agency Board be interested in this, WDA and staff would explore possible scenarios and costs to bring back to the board for consideration/direction. Infrastructure On July 9, 2018, council initiated the LID process. As a reminder, WDA will be responsible for half of the infrastructure cost. Based on City Council action on the LID at this work session, staff will begin to design the infrastructure that is estimated to be constructed by December 2020. The estimated FY19 design cost is $1M. Riverfront urban renewal, primarily through existing capital budget authority remaining from the EWEB property purchase, will be used for the FY19 expenditure, with those funds ultimately becoming part of the total LID cost (with 50% of the costs being assessed as part of the LID to parcels to be purchased by WDA). Steam Plant In April 2018, the Agency Board approved a process and criteria to select a developer for redevelopment of the Steam Plant. In August, the City invited a local team led by Mark Miksis of deChase Miksis and Mark Frohnmayer of Arcimoto to prepare a full proposal for the redevelopment of the Steam Plant. The team is assessing the building’s potential, bringing in architects, engineers and other experts and beginning to explore a financing strategy. Staff is working with the team to develop an agreement, which will outline expectations for the proposal process. Staff is also working with the team to coordinate public engagement opportunities later this fall as their proposal takes shape. Following public engagement, the River Guides will evaluate the proposal using the board-approved criteria and make a recommendation to the Agency Director and Agency Board. The board is expected to review the proposal in spring 2019 and will be asked