ACTION REQUESTED:
Title
Communication from the City Manager with a Request to APPROVE Submission of a "TIGER 2015" APPLICATION for DISCRETIONARY GRANT, in an Amount up to $15,000,000.00, from the U.S. Department of Transportation for the IMPROVEMENT OF WASHINGTON STREET FROM MAPLE STREET TO EDMUND STREET. [District 1]
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BACKGROUND: On April 3, 2015, the US Department of Transportation released a "Notice of Funding Availability" for its latest round of competitive surface transportation discretionary grants called Transportation Investment Generating Economic Recovery (TIGER) for 2015. The TIGER program has a minimum request threshold of $10 million and is only available for projects that can begin construction quickly, upon receipt of a grant. In reviewing potential City projects that meet these and other eligibility requirements, Staff believes the Washington Street Improvement Project from Maple Street to Edmund Street would be an appropriate submission.
The City has been working to revitalize this important roadway in the urban core. Washington Street, between Main and Maple Streets, has been either previously constructed or funded. This proposed project will continue the improvement of the Washington Street corridor through the Warehouse District. The attached map shows the proposed project location.
TIGER 2015 is able to pay up to 80% of the total project cost with the remaining 20% coming from non-federal sources (most likely a local match). The budget for this two-segment project is approximately $15 million. Staff is working to finalize the budget and grant request. If the full $15 million were needed, the federal request would be $12 million (80%) and the local match would be $3 million (20%). The City's local match could be covered with unrestricted capital funds, motor fuel tax funds, or borrowed funds. Grant expenditures will happen over a three-year period. Design and acquisition activities would commence upon award in 2015. Construction would be slated beginning in 2016. The project could be scaled to accommodate a smaller award than the amount requested. The request would include work at MacArthur (IL 116) and Washington to address access to the Cedar Street Bridge.
The improvement of Washington Street from Maple Street to Edmund should lead to an increase in economic growth in this portion of the Warehouse District. This project is an integral part of the City's growth strategy and Comprehensive Plan.
FINANCIAL IMPACT: Upon successful reward of TIGER 2015 grant the City will be required to identify a source for the local fund match, which could approach $2.4 million.
NEIGHBORHOOD CONCERNS: There is general support for this project.
IMPACT IF APPROVED: The City will submit an application to the US Department of Transportation (deadline is June 5, 2015).
IMPACT IF DENIED: The City will not submit an application and funding for this project will need to be sought elsewhere.
ALTERNATIVES: NA
EEO CERTIFICATION NUMBER: NA
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
3. Vibrant Downtown: Riverfront/ Central Business District/ Warehouse District
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.
3. Support sustainability.
DEPARTMENT: Public Works