ACTION REQUESTED:
Title
Communication from the City Manager with a Request to APPROVE a RESOLUTION of the City of Peoria Concerning Support of the FY2016 Economic Development Assistance Programs City of Peoria Grant Application for the RECONSTRUCTION OF NORTH UNIVERSITY STREET Between Pioneer Parkway and Townline Road. (Council District 5)
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BACKGROUND:
The City of Peoria is in the process of submitting an “Economic Development Assistance Programs” grant application for the North University Street Modernization project. The modernization of North University Street (NUST) within Pioneer Industrial Park has been idenitified as a key project for the City and the region. Plans to modernize NUST were developed in response to reoccurring concerns over several years from many businesses within the industrial park. The street fails to provide the proper infrastructure for a growing business area because of its narrow width; lack of turning lanes; poor drainage; lack of curb and gutter; and weak subsurface. With an average daily traffic from 7,500 to 10,000 vehicles, drivers have experienced difficult truck access, truck/auto accidents, and the advanced deterioration of infrastructure. The proposed construction project would modernize the one-mile stretch that is between Pioneer Parkway and Townline Road and provide the necessary infrastructure, access, and safety for industrial growth. The project would also include construction of sidewalk on one side and a multi-use path on the other that would be able to connect to the Rock Island trail.
The total project budget is $4,919,942. A combination of federal, state and local funds (40%-40%-20%) will be used to complete the project. The City is seeking $1,967,977 from the US Department of Commerce Economic Development Administration (40%). The attached resolution supports the City’s application and is a necessary step in receiving funding. In addition to federal funds, the Illinois Department of Transportation (IDOT) has pledged $1,967,977 (40%). The balance of $983,988 (20%) will be provided by the City over the two-year project period beginning in October 2017. Staff has identified some projects in the 5th District that have come in under budget that can potentially fund the City portion including Alta/Radnor and Allen/Alta.
FINANCIAL IMPACT: The City will commit to the local match only if the combined federal and state funds of $4,000,000 are secured.
NEIGHBORHOOD CONCERNS: The project is a result of considerable concern for the condition of the roadway by the businesses within Pioneer Industrial Park.
IMPACT IF APPROVED: The City will proceed with the application process.
IMPACT IF DENIED: The City will cease pursuit of federal funding for this project. It is unlikely that the road will be improved for the foreseeable future with only local funding available.
ALTERNATIVES: None.
EEO CERTIFICATION NUMBER: Not applicable.
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL’S 2014 - 2029 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Grow Peoria: Businesses, Jobs, and Population
2. Financially Sound City Government, Effective City Organization
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Grow employers and jobs.
2. Invest in our infrastructure and transportation.
DEPARTMENT: City Manager's Office