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Program Category: 08 Project # 09 Project # 10 Project # Community Service CS-09 F Yes No NA X Funding Source Accounting Code FY10 FY11 FY12 FY13 FY14 Missoula Parking Commission - cash 2,000,000 Missoula Parking Commission - rev bonds 2,000,000 Missoula Redevelopment Agency - bonds 3,000,000 New Market Tax Credits funds 1,200,000 8,200,000 - - - - - Budgeted Funds Accounting Code FY10 FY11 FY12 FY13 FY14 A. Land Cost 1,200,000 B. Construction Cost 5,555,556 C. Contingencies (10% of B) 555,556 D. Design & Engineering (15% of B) 833,333 E. Percent for Art of B) 55,556 F. Equipment Costs G. Other 8,200,000 - - - - - Expense Object Accounting Code FY10 FY11 FY12 FY13 FY14 Personnel Supplies Purchased Services Fixed Charges Debt Service - MRA (TIF) 175,000 175,000 175,000 175,000 Debt Service - Praking Comm 262,000 262,000 262,000 262,000 - 437,000 437,000 437,000 437,000 - Responsible Person: Responsible Department: Preparer's Initials Total Score Anne Guest Missoula Parking Commission ag 50 Is this equipment prioritized on an equipment replacement schedule? Are there any site requirements: How is this project going to be funded: Does this project have any additional impact on the operating budget: How is this project going to be spent: CAPITAL IMPROVEMENT PROGRAM City of Missoula CIP Project Request Form FY 2010-2014 Description and justification of project and funding sources: This project includes the construction of a parking structure with a minimum of 300 spaces at the southeast corner of E. Front and Pattee Streets in Downtown Missoula. This parking structure is in response to the increased parking demand as a result of the Downtown Master Plan's designation of a Retail Hot Spot and the current First Interstate Bank project. In addition to the additional parking inventory, there will be approximately 5,000 square feet of heated shell space on the Front Street frontage that can be used as retail space. The final number of parking spaces will be determined by funding capacity and construction cost estimates and the final amount of retail space will be dictated by the design of the structure. Funding sources include a combination of Parking Commission cash reserve and revenue bonds, Missoula Redevelopment tax increment bonds and New Markets Tax Credit funds. The level of funding will be determined as the project and its concept is more clearly defined. (The figures below are based on 300 spaces at approximately $15,000 per space.) Spent in Prior Years Spent in Prior Years Funded in Prior Years Project Title: Front Street Parking Structure Date Submitted to Finance 02/13/2009 Today's Date and Time 05/28/2009 13:10 Description of additional operating budget impact: Currently there is a site survey and environmental phase I study being conducted. ---PAGE BREAK--- Program Category: 10 Project # Community Service CS-09 Yes No 1. Is the project necessary to meet federal, state, or local legal requirements? This cri- terion includes projects mandated by Court Order to meet requirements of law or other X requirements. Of special concern is that the project be accessible to the handicapped. 2. Is the project necessary to fulfill a con- tractual requirement? This criterion includes Federal or State grants which require local X participation. Indicate the Grant name and number in the comment column. 3. Is this project urgently required? Will de- lay result in curtailment of an essential ser- vice? This statement should be checked "Yes" only if an emergency is clearly indi- X cated; otherwise, answer "No". If "Yes", be sure to give full justification. 4. Does the project provide for and/or im- prove public health and/or public safety? This criterion should be answered "No" un- less public health and/or safety can be X shown to be an urgent or critical factor. Raw Score Total Range Weight Score (0-3) 5. Does the project result in maximum benefit to the community from the 3 5 15 investment dollar? (0-3) 6. Does the project require speedy implementation in order to assure its 3 4 12 maximum effectiveness? (0-3) 7. Does the project conserve energy, cultural or natural resources, or reduce 1 3 3 pollution? (0-2) 8. Does the project improve or expand upon essential City services where such 2 4 8 services are recognized and accepted as being necessary and effective? (0-3) 9. Does the project specifically relate to the City's strategic planning priorities or other 3 4 12 plans? Total Score 50 There will be every effort made to incorporate green construction methods as the budget allows. It is anticipated that the City Council will adopt the Downtown Master Plan to guide decisions for Missoula for the next 20+ years. This parking structure supports the parking guiding principles that are key elements in the Master Plan. This project directly supports the Downtown Master Plan. Quantitative Analysis Comments Building additional parking inventory is a direct recommendation in the Downtown Master Plan. This location is also in the Retail Hot Spot and will serve as a critical economic catalyst for this section of Downtown Missoula. The First Interstate Bank project is scheduled for completion in September, 2009. The added parking demand needs to be addressed as soon as possible. Yes, if New Markets Tax Credit funds are utilized. CAPITAL IMPROVEMENT PROGRAM (See C.I.P. Instructions For Explanation of Criteria) Qualitative Analysis Comments Project Rating Project Title: Front Street Parking Structure