Carr lot-slideshow-2006
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Transcript of Carr lot-slideshow-2006
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• 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
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- 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.
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• 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
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• 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!
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- 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
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• Ntunbers evolve/change over time
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• 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
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How will this get paid off?
T otill ".K,ilI coSls
Mo rih~ r"ve ru e r" ,,-, roo to Wle< am "", co%
Mrnttly fee req " red@roo l>: ooocc l.\l ,",CY 80% 276 spaces
Potential adJ l irn ai <f1 ru al r .... em e if 1 00 % lu i 69 spaces $5,175.66 rrmttt,'
An rrn l co% Ie.' orO;j nal $000,0 00 bam (20 years@5%)
Pote<1ti oi net onrm. co,;! to el y
SlO,703
S60.01
S75.01
S62.100
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Back to the local share .....
Solli e"" of Loc<'ll Sh1l e flIII"S:
Ap ll'oved Brn d Leasa'sale Ie.' Uw er (OctS
SlIb 101<11
N<l 10 be n",.,eed
An ru ai co% aI 5% rn lOy",.- brn d
An ru ai 0 & M co';'s!or Qara(le 3(5 spaces $375 each
T 01 ill ,." Il,ilI cos'"
Sl.J I9,567
$8 00 ,00 0 $329, 00 0
SI.1 29,OOO
Sf.f90,567
$119,057
$129,375
Sl.w.432
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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.
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• 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
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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.
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OUS SJATIDM S/510PSflIR .... AlS
~ ..... ""'" ore .. ........... ore $162,892 $U6,803 .. .. $1&,289 ,oap~,,,,,
~"., $4 U ,<OO .. '" $111,100
C ""'" "", on $3pl1 ,IDl $2,S<0.960 _ ... ,.. '" $3 82,I9S Emoncemore. (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 11'1 N 1 PM.'NG ~",'22,511 ~ ,9 05 ,311 S' ,009 ,50 0 .. $1,141,1'1
INfORMIITION CI " II II $156,00') $1 ::s ,~~O S, 2,aeo .. $11,411
CONflUENO PAR. $630,00:1 $252,00:1 5252.000 .. $12i,100
UPPI II f LOOII DI IIll t1P ~,. NT $3,602,_ " $0 l3,<13,4110 $]2!.-
HAlAJIDIlU S $Iff III"" DIATIDII lT6,:nI " .. '" $15,_
101 AI. S $l1,lil,lll sn"ll,11' " ,/lJJ" 1l ,. ' J,411 $l,ln,5i1
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• March 5, "00" - Article I " (by petition) saId.
" .... to borrow a SlUU not to exceed $800,000 for the City's share of acquisition and development of the Capital DIStrict Master Plan Carr Lot Project: the purchase of the so-called Carr Lot and cons truction of improvements thereon for a park ancVor public transit center ancVor a tourist infonnationlwelcome center and/or a public parking lot and/or a transportation path."
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• 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
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