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 Transpo...
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