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Carr lot-slideshow-2006

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  • 1. • Mult i-Modal TransIt Center (Bus Station)• Bike PathIPedestrian Bridge• Confluence Park at Winooski & No. Branch• Visitor/Tourist Welcome Center·345 Space Parking Facility• Hazardous Site Remediation• CommcrciaVHousing Development - upper floors
  • 2. - Capital District Master Plan done 1998-~OOO- Plan was product of City/State Conunission, a body representing the Legislature, the State Administration and the City of Montpelier.-Work completed by Gossens-Bachman, reviewed publicly m 2000• Adopted by Legislature, Vt. Dept. OfBldgs & Gen Services, City Council and Planning Comm.
  • 3. • Transit Center on Taylor St Lot (Carr Lot)• BikelPed path across Carr Lot adJaec!!~ ~o ri,-;er with bride crossing the North Branch• Green SpacclPark at confluence of rivers• Parking facility at No. Branch Lot (Jacobs Lot)• Private Bldg developed at 60 State St (Heney Lot)• Preserved Truss Bridge at Taylor Street
  • 4. • Consider the 106 - 4 (I) parking decision -• Consider parking choices if necessary• Decide to cnd project• Or ... Express support for project so that additional funding can be enthusiastically pursued.• Project is largely defmed, funding is mostly in place. Once parking issue is resolved, its time to make a decision!
  • 5. - Implementation of Capital District Plan·345 (168 net new) owned parking spaces-Very low cost per space for new parking- Parking cost INCLUDES all other project elements - Bike PathlPed Bridge, Confluence Park, Transit Center, Upper Floor Development and remediation.- S800K Bond yields S~l . ~M downtown investment
  • 6. • Ntunbers evolve/change over time
  • 7. • Total Parking Facility Cost - SII ,I "",511• Total Cost for 345 spaces = $32,239 per space• City Sharc for entire project ~ $",319,567• City Sharc for 345 spaces ~ $6,7C3 per space-1 68 net new spaces = $13,807 per space
  • 8. How will this get paid off?Totill ".K,ilI coSlsMo ri h~ r"ve ru e r" ,,-, roo to Wle< am "", co% SlO,703 S60.01Mrnttly fee req " red@roo l>: ooocc l.l ,",CY 80% 276 spaces S75.01Potential adJ l irn ai <f1 ru al r.... em e if 1 00 % lu i 69 spaces $5,175.66 rrmttt, S62.100An rrn l co% Ie. orO;j nal $000,0 00 bam (20 years@5%)Pote<1ti oi net onrm. co,;! to el y
  • 9. Back to the local share .....Solli e"" of Loc<ll S h1l e flIII"S: Sl.J I9,567Ap lloved Brn d $8 00 ,00 0Leasasale Ie. Uw er (OctS $329, 00 0SlIb 101<11 SI.1 29,OOON<l 1 be n",.,eed 0 Sf.f90,567An ru ai co% aI 5% rn lOy",.- brn d $119,057An ru ai 0 & M co;s!or Qara(le 3(5 spaces $375 each $129,375T01ill ,." Il,ilI cos" Sl.w.4 32
  • 10. 177 spaces in Taylor & North Branch 63 spaces ill 60 State Street·485 in other lots·400 on street, metered-1,1:25 total "managed" parking spaces·447 (40%) leased, 678 (60%) owned• 168 net new spaces would increase inventory by 15% with 270 (21 %) leased and 1,023 (79%) owned.
  • 11. • Capital Plaza - 207 Leased spaces• Stone Cutters Vay - 108 owned spaces"Blanchard Court - 105 owned spaces• Pitkin CoLut - 65 owned spaces"485 other spaces in lots, 278 (57 .3%) owned·400 on street metered spaces - owned
  • 12. Current Parking Scenario Taylor Sl LOI- lID leased spaces-No. Branch Lot - 67 leased spaces-177 leased spaces displaced by this project - replaced by 345 owned spaces. N cl gain of 168 spaces.·60 Slale Sl Lot - 63 leased spaces. May be privately developed and spaces lost whether or not Carr Lot project moves ahead.
  • 13. OUS SJATIDM S/510PSflIR .... AlS ~ ..... """ ore .. ........... ore ,oap~,,,,, C""" "",on $162,892 ~"., $3pl1 ,IDl $U6,803 $4 U ,<OO $2,S<0.960 _ .. ." ...,.. ." $1&,289 $111,100 $3 82,I9S Emonce more. (Bo. p..h.tlri<llle) $1 .1)63 ,800 ~67,G4 $ G4.273 $112,503 .." TOIAIS U,41I,lIl S4,U!,11I S~I,!,. $i2l,l.,REPLACE 111 N1 PM.NG ~",22,511 ~ ,9 05 , 3 11 S ,009 ,50 0 $1,141,11 .INfORMIITION CI " II II $156,00) $1 ::s , ~~O S, 2,aeo $11,411CONflUENO PAR. $630,00:1 $252,00:1 5252.000 $12i,100UPPI II f LOOII DI IIll t1P ~,. NTHAlAJIDIlU S $Iff III"" DIATIDII $3,602,_ lT6,:nI " " . $0 l3,<13,4110 " $]2!.- $15,_101 AI. S $l1,lil,lll sn"ll,11 " ,/lJJ" 1l ,. J,411 $l,ln,5i1
  • 14. • March 5, "00" - Article I " (by petition) saId." .... to borrow a SlUU not to exceed $800,000 for theCitys share of acquisition and development of theCapital DIStrict Master Plan Carr Lot Project: thepurchase of the so-called Carr Lot and cons tructionof improvements thereon for a park ancVor publictransit center ancVor a tourist infonnationlwelcomecenter and/or a public parking lot and/or atransportation path."
  • 15. • Carr Lot CommIttee was fonned"City passed an $800,000 bond on March 5,2002"Federal Transit (FTA) and Federal Highway (F1-IWA) appropriations were made as a result of efforts by Senators Jeffords and Leahy .• Wilbur Smith Associates was selected to do required Environmental Assessment Vork