City Council Agenda and Packet 2013 10 08 SP

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day as well as by many bicyclists. This bridge should be replaced because it is important to reduce traffic congestion at Pine Street and to provide an alternate emergency route when a train is blocking the Pine Street crossing. Staff's preliminary estimate is that it may cost up to $1 million to design and construct a new bridge and approaches. Staff expects the Federal Highway Administration (FHWA) assistance for 80% of this work. The proposed budget includes a net cost of $250,000 for design and construction in 2014. o Coal Creek and Other Trails. Over 90% of the Coal Creek Trail in Louisville was destroyed by the flood. This is the City's and one of the region's most important trail corridors and should be reconstructed as soon as possible. Staff is developing estimates of replacement cost and likely insurance coverage and estimates FEMA assistance will cover 75% of costs. The proposed budget includes a net cost of $250,000 for trail and other flood reconstruction /restoration in open space and parks in 2014. Coal Creek Golf Course (CCGC). The floods ravaged 15 of the 18 holes at CCGC destroying tee boxes, fairways, bunkers, greens, cart paths, bridges, components of the sprinkler system, trees and landscaping and a portion of the parking lot. The CCGC is not only an important recreational facility enjoyed by hundreds of people each day, it is also a significant economic driver for the City that employs dozens of people, draws visitors to local restaurants, supports property values around the course and currently generates $180,000 in annual revenue through the license agreement with Western Golf Properties (WGP), the company that manages the course for the City. The sooner we are able to have the course back in operation, the less the City will suffer economic losses. Staff has requested a damage assessment from WGP and is also developing independent estimates of replacement cost and likely insurance coverage. We expect FEMA to provide grants for 75% costs that are not covered by insurance. Preliminary estimates suggest the cost of restoring the golf course could exceed $6.5 million. Accordingly, the proposed budget includes a $5 million transfer from the General Fund to the Capital Projects Fund in 2014 to enable a $1.625 million transfer to the Golf Course Fund in 2014 to cover the City's anticipated 25% share of Golf Course reconstruction in 2014. This large General Fund transfer will also provide the funding required for other capital project commitments, including the Diverging Diamond Interchange and the South Street Gateway Underpass, as well as other capital project priorities, such as the City Services Facility and Street Resurfacing. • Funding long- anticipated capital projects including: o City Services Facility to provide a safe and efficient home base for the City's Public Works, Parks and Open Space staff, vehicles, equipment and materials o South Street Gateway Underpass to provide a catalyst for redevelopment of the City's Urban Renewal Area and to expand the parking supply throughout downtown 19