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Estudillo Callan Parking Garage, Award 6 September 20, 2010 <br /> • Public Works staff estimates the yearly increased maintenance cost at 540,000. Parking <br /> revenue from the additional spaces should cover the additional maintenance costs <br /> Budget Authoritv <br /> • The City and the Agency have agreed to execute a Cooperation Agreement to provide <br /> • funding for the projects <br /> • The Project was approved as part of the Capital Improvement Program (CIP) for budget year <br /> 2008 -09 for the Joint Project Area in the amount of $13,000,000. <br /> • In July 2008, the Alameda County -City of San Leandro Redevelopment Project Area issued <br /> Tax Allocation Bonds. To date, 51 million in bond proceeds has been spent on design of the <br /> garage. An additional 59,400,000 of the bond proceeds has been identified and set aside in <br /> Account No. 962 -86 -063 for the Estudillo Callan Parking Garage project construction. <br /> • In August 2008, the Redevelopment Agency entered into a Lease with Option to Purchase <br /> Agreement for 262 Davis Street, the former Chamber of Commerce property, which <br /> designated 5400,000 from the Plaza Project Area to Account No. 961 -83 -074 for the • <br /> construction of a replacement office facility in the proposed Estudillo Callan parking garage. <br /> • An additional allocation of 5500,000 from the Plaza Project Area Fund Balance is <br /> recommended. <br /> Summary: <br /> Joint 2008 Bond Proceeds — Design 51,150,000 <br /> Joint 2008 Bond Proceeds — Construction 59,400,000 <br /> Plaza 262 Davis Street Acquisition 5400,000 <br /> Plaza Fund Balance 5500.000 <br /> Total 511,450,000 <br /> • An additional 520,000 from a Stopwaste.org Grant will also be applied to the project once <br /> the LEED certification is received at project completion <br /> 1 I - Cc tL <br /> Perry Carter, Interim Agency Treasurer <br /> CONCLUSION <br /> Staff recommends approval of findings pursuant to Section 33445.1 of the California <br /> Community Redevelopment Law regarding use of redevelopment tax increment funds for the <br /> construction of the Estudillo Callan Parking Garage and authorization of a Cooperation <br /> Agreement between the Redevelopment Agency and City of San Leandro. Additionally, staff <br /> recommends award of the base bid (4 -level Structure) contract to the low bidder, Webcor <br /> Construction, in the amount of 57,880,000 for the subject project. <br /> G.1OBDWiles RDA\Joint Project Area \Estudillo Garage - 2008 Bond\Webcor Award Rpt to Council 9.20 -1 Or.dccx <br />