City Council Agenda and Packet 2021 06 17 SP

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SUBJECT: POTENTIAL BALLOT TRANSPORTATION TAX DISCUSSION DATE: JUNE 17, 2021 PAGE3OF8 Cost estimate baseline Dort,.: c:.a. Figure 2 I OF) dad (it cost esrih af@ IS 4,96 Estimate becomes more certain as pfogram Progresses Estimate tends to grow aver time as risks are realized Concept refinement gate Technology development gate Uncertainty is low Start of program and start of system miegration gate Bidding on these improvements will not take place for 1 '/2 - 2 years from the time of a decision to move forward at full capacity. This will also likely have impacts on final costs reviewed today versus in the long-term future. Under promising and over performing should be a key goal of this discussion to ensure that what the community decides on can be delivered. Based on an $8 million figure currently, with a 50% contingency ($4 million) changes the total to $12 million per underpass, at a total of $72 million. Thus, at this point in time it is most likely that baseline expectations would be set to deliver 4 underpasses within the currently identified budget ($50 million) with the remaining 2 underpasses being built in the event the total actual bid costs and total available funding are less than anticipated. Assuming reduced contingency levels (30 or 40%) could provide additional expectations for funding and/or underpass completion. At the June 17 special City Council meeting, staff will have further design and cost estimates, and thus City Council can consider a final contingency level to be added to the more refined cost estimates. Based upon previous planning efforts over many years via the SBR Connectivity Study, Transportation Master Plan, Parks Trails Master Planning, and leveraging of funds/partnerships, economic vitality goals as well as Council and Community feedback, staff suggests the following prioritization of underpass construction: Main Street & CITY COUNCIL COMMUNICATION 4