HomeMy WebLinkAbout~Master - RISE Grant Agreement for ISU Research Park, Phase IIII RESOLUTION NO. 14-518
RESOLUTION APPROVING RISE GRANT AGREEMENT WITH ISU RESEARCH
PARK PHASE III EXPANSION
FOR THE CITY OF AMES,IOWA
WHEREAS,on April 8,2014,the Iowa Department of Transportation(IDOT)Transportation
Commission approved a Revitalize Iowa's Sound Economy (RISE) grant to the City of Ames
associated with the Phase III expansion of the ISU Research Park; and,
WHEREAS, this grant will include improvements to reconstruct the intersection of
University Avenue and Airport Road into a roundabout, to widen and extend the paving of
University Avenue south through the newly planned intersection with North Drive, to construct
North Drive through Plaza Loop, and the construction of Plaza Loop; and,
WHEREAS, additional items included in the RISE grant funded project are on-street bike
lanes, an off-street pathway(sidewalk) on the west side of University Boulevard, relocation of the
City's electric lines, street lighting, on-street storm sewer facilities, and a bus stop pad; and,
WHEREAS, the costs for roadway design, construction, and administration for the RISE
project were approved by the Iowa Department of Transportation in the amount of$5,013,410,and
the RISE grant cannot exceed 80% of the total eligible cost, or a maximum of$4,010,728; and,
WHEREAS, the City is responsible for the 20% local contribution of$1,002,682, as well
as for any amount above the $5,013,410; and,
WHEREAS, the local match and any additional amount above the original estimate will be
funded through General Obligation Bonds that will be abated through Tax Increment Financing(TIF)
from the area, and the current cost estimate for the RISE funded road improvements is $4,923,541
without any contingency; and,
WHEREAS,in addition to street-related work under the RISE grant,additional infrastructure
required of the City to complete Phase III includes water mains and sanitary sewers; and,
WHEREAS, this work is estimated to cost$900,000 for the water mains and$505,000 for
the sanitary sewer mains, and, again, these costs will be paid for through a TIF financing strategy;
and,
WHEREAS, it should be noted that the original RISE grant application included on-street
parking along Plaza Loop as a requested item, and although the cost for that parking was included
in the application approved by the Iowa Transportation Commission,IDOT staff has since informed
the City that the parking is an ineligible cost; and,
WHEREAS, in the event that determination by IDOT is not altered, the Research Park
development agreement provides for the costs of this parking to be paid one third by the City and
two thirds by the Research Park; and,
WHEREAS, the City's share of that cost would likewise be included in the TIF financing.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the Iowa Department of Transportation RISE Grant Agreement associated with the Phase III
expansion of the ISU Research Park is hereby approved.
ADOPTED THIS 141h day of October, 2014.
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Diane R. Voss, City Clerk Ann H. Campbell, Mayor
Introduced by: Orazem
Seconded by: Corrieri
Voting aye: Betcher, Corrieri, Gartin, Goodman,Nelson, Orazem
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 141h day of October, 2014.