Loading...
Item 10ACity of Southlake, Texas MEMORANDUM April 14, 2005 TO: Shana Yelverton, City Manager FROM: Malcolm Jackson, Director of Community Services SUBJECT: Approval of Conceptual Plans and Estimated Project Budget for "State Street Park" and "Grand Avenue Plaza Park" in the Town Square Grand Avenue District Action Requested: Approval of Conceptual Plans and the estimated project budget for "State Street Park" and "Grand Avenue Plaza Park" in the Town Square Grand Avenue District. Background Information: Previous Actions: o The Park Board recommended to accept the park land dedication to the city for the "Plaza Park" and "State Street Park" (previously West Park). The developers also provided a preliminary list of amenities and their costs, which the Board asked to be clarified and refined prior to the Concept Plans for the parks being approved. o The City Council has approved the Developer's Agreement with SLTS Grand Avenue. Also, the developers have a commitment via the TIF Zone whereby they must submit to the City evidence of approved costs of at least $1,000,000 for the construction of park and park improvements within the Grand Avenue Property. A copy of the parks section of the Developer's Agreement is attached. o The Park Board recommended approval (9-0) of the conceptual plans (attached) and the preliminary project budget (attached) in April Current Issues• SLTS Grand Avenue, Ltd., is requesting approval of the design concepts and the estimated budget for the State Street Park and Plaza Park as required by the Developer's Agreement. Financial Considerations: The developer wishes to establish design parameters and elements for the park development as required in the Developer's Agreement. Shana Yelverton, City Manager April 15, 2005 Page 2 Financial Impact: The developer has been made aware of the maintenance issues incurred with downtown parks and has sought to reduce or eliminate park elements requiring intensive maintenance. Citizen Input/ Board Review: The applicant has Zoning, Site Plan, and Developer's Agreement approval. The Park Board has recommended approval of the park dedication requirements for the Grand Avenue District as well as the conceptual plans and budget for the two parks. Legal Review: The City Attorney has reviewed the developer agreement. Alternatives: Input toward park design elements and TIF funding priorities as appropriate. Supporting Documents: Supporting documents include the following items: ■ Graphics of "Plaza Park" and "State Street Park" ■ Copy of park -related section of the approved Developer's Agreement ■ Estimated park development costs Staff Recommendation: Approval of Conceptual Plans and the estimated project budget for "State Street Park" and "Grand Avenue Plaza Park" in the Town Square Grand Avenue District Ll p 10 [a tT how I e C(1 - • `� v A n m r L7 N � r Z m Cn rq n � � p z �^ i�; r-p-OW .., 0 Park Section of Developer's Agreement C. PARK FEES 1, Park dedication requirements applicable to Phase IV, The Grand Avenue District; are 6.6359 acres, based upon the development of 31.798 acres of additional land (district is 41.35 acres total, which includes 9.552 acres of existing development). Cooper and Stebbins, the developer of adjacent Town Square improvements, has a credit of 1.8466 acres from prior development. Cooper and Stebbins, by execution of this Agreement, agrees to .apply 0.6359 acres of this credit to satisfy Developers requirements for dedication for this Addition. The City agrees that Cooper and Stebbins may carry the remaining 1.2107 acres and the 3.5430 acres of park development within Grand Avenue; for a total of 4.7537 acres, forward to future Town Square developments as a credit. 2. Developer agrees that no construction will commence on the parks until the Parks Board and the City Council have approved the proposed park design and proposed improvements. The design and construction costs of any improvements required to be constructed to satisfy requirements for on -site and off -site drainage shall not be permitted to be considered, for any purpose, including the TIF Development Agreement, .as Project Costs for the parks. Southlake Town Square - Phase IV, Grand Avenue District State Street Park & Plaza Park Preliminary Budget (Subject to final Bid pricing being received) Plaza Park Hard Costs Grading $ 5,500 Fountain 176,000 Specialty Paving 211,000 Pergola 205,000 Lighting 21,000 Benches 17,600 Trash Receptacles 5,000 Tables with Chairs 14,000 Specimen Trees 32,800 Other Landscaping 11,700 Irrigation 10,000 Subtotal Hard Costs $ 709,600 Soft Costs General Requirements $ 78,000 General Conditions and Insurance Contractor Overhead - Included in above Contractor Profit 27,500 Per Contract Calculation Architect, Design 50,000 Per Contract Calculation Architect, Supervision - Included in above cast Civil Engineering 3,000 Subtotal Soft Costs $ 158,500 Plaza Park Total $ M'100 State Street Park Hard Costs Grading $ 52,700 Excludes costs associated with DetentionlDrainage Shade Trees (65 gal) 36,500 Other Landscaping 39,500 Bermuda Grass 13,000 Fountains in Lake 58,500 Sidewalk/Trail 17,400 Lighting 31,600 Benches 17,600 Trash Receptacles 4,700 Irrigation 48,000 Subtotal Hard Costs $ 319,500 Soft Costs General Requirements $ 35,000 General Conditions and Insurance Contractor Overhead - Included in above Contractor Profit 12,408 Per Contract Calculation Architect, Design 23,750 Per Contract Calculation Architect, Supervision - lncluded in above cost Civil Engineering 31,321 Per Contract Subtotal Soft Costs $ 102,479 State Street Park Total 421,979 Total Park Costs $ 1,2901000 *Note these line items are budgetary in nature and are subject to adjustment once the work is bid, In any event, total applicable costs will exceed $1,000,000. * This Budget specifically excludes any costs relating to site drainage infrastructure.