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Underground Utility 3 November 19, 1997 Approval of the above project list does not authorize any individual project to proceed. Each respective project will go through all required public notice, public hearing, and City Council approval processes prior to implementation. Fiscal Impact Adoption of the Five -Year Project List for Underground Utility District Conversion Projects does not designate or allocate any funds for projects on the List. The fiscal impacts of individual conversion projects will be evaluated as each Underground Utility District is brought to the City Council for establishment. The Davis Street project at COSTCO and the Marina Boulevard project to underground utilities crossing Interstate 880, were previously approved by the City Council and funds have been allocated to construct these projects. It is estimated that the undergrounding of East 14th Street, from Blossom Way to 139th Avenue, once final approval is given by Council, will take about take six (6) years to complete, from start of design to completion of the project. Sufficient Rule 20A funds would accumulate over this period so that the City would only need to borrow one year of future allocation to fully fund the project. It is estimated that the undergrounding of Marina Boulevard, from Doolittle to Neptune, will take about four (4) years to complete, from start of design to completion of the project. Again, sufficient Rule 20A funds would accumulate over this period so that the City would only need to borrow one year of future allocation to fully fund the project. The City will only accumulate sufficient funds to do one of these projects at a time. CONCLUSION To aid in preparing the Capital Improvement Program budget recommendations for FY 1998-99, staff recommends the adoption of the proposed Five -Year Project List for Underground Utility District Conversion Projects. Staff also recommends that Council authorizes the start of a feasibility study for an East 14th Street Undergrounding District. Staff would meet with the utilities to establish the exact limits and scope of the project, and estimate the City's cost for street lighting and the property owners cost to convert to underground utility services. WKA/UU/AG:mc H ACOUNC IL\ 1215\UTIL rrY.MEM