Laserfiche WebLink
SUBJECT: FOUNDRY BUILDERS APPLICATION FOR ASSISTANCE <br />DATE: AUGUST 14, 2017 <br />PAGE 3 OF 5 <br />Staff organized the estimated costs by project below, rather than Foundry Builders' <br />division by improvement type. <br />DELO Lofts Urban Renewal Request by Component <br />Component <br />Cost % of Request <br />Design/Const. Mgmt $ 293,500 28% <br />Delo Lofts $ 314,671 30% <br />Old Style Sausage $ 49,348 5% <br />Coal Creek Collision $ 85,776 8% <br />Griffith Street $ 49,098 5% <br />Miner's Field $ 136,290 13% <br />Miner's Cabins $ 77,381 7% <br />Contingency $ 49,551 5% <br />Total $ 1,055,614 100% <br />Analysis <br />The Highway 42 Conditions Survey conducted June 2006 identified the Delo Lofts <br />property to show the following blighting conditions: <br />Faulty Street Layout <br />Faulty Lots <br />Unusual topography or inadequate public improvements <br />Danger to life or property or other causes <br />Staff conducted a revenue analysis to determine if the project would generate sufficient <br />revenue to pay off the $1,000,000 additional funding prior to the end of the TIF revenue <br />generation period. Below are the assumptions and analysis. <br />COUNCIL COMMUNICATION <br />