october 10 & 13 committee packet
TRANSCRIPT
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~ t Q / ,
Q f\.\0 City of Troy
u ~
TROY
CITY
COUNCIL
COMMITTEE MEETING
NOTICE
COUNCIL
CHAMBERS
CITY HALL
100
S.
MARKET STREET TROY
OHIO
MONDAY NOVEMBER 10 2014 5:00 PM
Buildings
Committee
(Snee [Chm.),
Oda
Phillips)
1. Provide a
recommendation
to Council regarding authorizing the Director
of
Public Service
and
Safety
to enter
into a professional services
agreement
with
MSA
Sport
of
Cincinnati, Ohio for
the
design
of the
Hobart Arena Expansion
and
Renovation Project portion
of the
Riverfront
Development
Project
at
a cost
not to exceed
700,000. This design
agreement
has
been
recommended
by
the Recreation Board.
Finance
Committee
(Kendall [Chm.], Schweser, Tremblay)
1. Provide a
recommendation to
Council regarding
the recommendation of the Downtown
Loan
Committee that
a loan
in
the
amount of
180,765 s approved from the
DBR
Revolving Loan Fund
to provide funding assistance for the applicant
to
purchase the property at 9-11
East
Main Street.
Applicants
are
Ryan
and
Sarah McNeill. Consideration
of emergency
legislation requested.
THURSDAY
NOVEMBER
13 2014 5:15
PM
Recreation Parks Committee (Heath [Chm.),
Oda
Tremblay
1 Provide a
recommendation to
Council
regarding
authorizing
the
Director
of
Public Service
and
Safety
to bid and contract
for
the
construction
of the
Treasure Island Park
based on
previously
discussed enhancements as noted
and
at a cost not to exceed 1,723,000. This has been
recommended by the Board
of
Park Commissioners.
Other Committees/items may be
added.
11-9-2014
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UILDINGS
COMMITTEE
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t
TROY OHIO
TO:
FROM:
DATE:
MEMORANDUM
Mrs. Baker, President of c < f J ~
Patrick E. J. Titterington -- 17[)
November 6, 2014
Patrick
E
J Titterington
100
S
Market Street
P. 0. Box
3003
Troy
, Ohio 45373
www .troyohio.gov
phone: 937) 335-1725
fax : 937)
339
-8601
patrick.titterington@troyohio .gov
SUBJECT: PROFESSIONAL SERVICES AGREEMENT WITH MSA SPORT, DESIGN OF HOBART ARENA
EXPANSION AND RENOVATION
PROJECT
PORTION OF RIVERFRONT DEVELOPMENT
PROJECT
REQUESTED ACTION:
That
Council
authorizes the Director of Public Service and Safety to enter
into
a professional services
agreement with
the architectural engineering
firm of MSA Sport of Cincinnati,
Ohio
for
the
design of the
Hobart Arena
portion of
the
Riverfront Development Project
at
a cost
not to
exceed 700,000.
BACKGROUND:
The Reappropriation
Ordinance
approved
by
Council
included
the
funds related to the design of
the
Hobart Arena
portion of
the
Riverfront Development Project. City staff solicited
RFPs
from
qualified
firms
to perform the
design,
provide bidding documents
and
perform construction
management
during
the
construction
phase.
Six
proposals were submitted and four firms selected to be
interviewed.
The
interviews involved Recreation Board President Marty Hobart, Recreation Director Ken Siler, Assistant
Recreation Director Carrie Slater, City Engineer Deborah Swan, Assistant City Engineer Jillion Rhoades,
and Engineering Project
Manager
Stan Kegley. Staff has
recommended that
the firm of MSA Sport of
Cincinnati, Ohio be
selected as
that firm that most meets
the
scope of services and has
experience
in
the
renovation
of Arena type facilities.
This recommendation was
presented
to the Troy Recreation Board on November 4, 2014, and that
Board
provided
a unanimous
recommendation that
Troy
City
Council
authorize a professional services
agreement
with MSA Sport,
of
Cincinnati, Ohio for design
and
construction administration for the Hobart
Arena Expansion
and
Renovation Project portion of the Riverfront Development Project, contingent
upon successful negotiation in an
amount not
to
exceed
720,000.
The final
not
to
exceed
amount worked out between City staff and MSA Sport is 700,000.
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~ t Q J ,
Q (\\Q City of Troy
0n r i k E.
J. Titterington
-···-
u ~
100 S.
Market
Street
P.
0
Box 3003
Troy
, Ohio 45373
www troyohio gov
phone: (937) 335-1725
fax: (937)
339-8601
MEMORANDUM
TO:
FROM:
DATE:
..
Mrs. Baker, President of
Patrick E. J. Titterington
November 6, 2014
SUBJECT:
DOWNTOWN BUILDING REPAIR
REVOLVING
LO N
9 11 E MAIN
STREET FOR RYAN
SARAH McNEILL
RECOMMENDATION:
That an 180,765 loan is approved by Council from the Downtown Building Repair Revolving Loan Fund
(DBR) to
Ryan
and Sarah McNeill
for
the purchase of the building at 9-11 East Main Street.
BACKGROUND:
Mr. and Mrs. McNeill submitted
an
application for a DBR loan for 180,765 for the purchase of the
property located at
9-11
East Main Street (aka Wasserman Building). The Downtown Loan Committee
(DLC) met on November 6, 2014
to
review the following application:
• 180,765 (includes
3
closing fee of 5,265)
•
20
year repayment period
• 3 simple
interest
• Co-Borrower: Tom and Ruth
Ann
McNeill
• Security for the loan
will
be the first position mortgage
on the
building to be purchased.
The first floor
of
the property is currently occupied. The DLC review included the public purpose to be
served by the approval of the loan. The upper story floors have been vacant for decades, and the
McNeills have a vision
to get the upper story floor occupied with office and residential uses. This
additional capital investment made
with
private dollars
will
both greatly strengthen
the
building
as
well
as positively influence this block
of
buildings on the National Register.
The DLC is recommending
to
Council that a loan be approved
to
Ryan and Sarah McNeill for the purchase
of the
building at 9 -
11 East
Main Street based
on
the following terms:
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Page Two
The DLC noted that this loan structure departs from the adopted DBR Guidelines in that the loan amount
exceeds 100,000. With a fund balance in
excess
of
600,000 the loan fund
can
accommodate this loan.
Information provided from the
DLC
meeting is attached.
The goal of this loan program is to provide loans to qualified applicants
to
improve buildings in the
downtown.
As
loans are repaid, those monies are then available for other applicants.
REQUESTED
ACTION:
t would be appreciated i you would assign to a Committee of Council:
• Consideration
of
a loan in the amount
of
180,765 from the
DBR
Revolving
Loan Fund
to
provide
funding assistance for the applicant to purchase the property at
9 11 East
Main Street based
on
the terms as recommended
by
the Downtown Loan Committee. We also ask for consideration of
emergency legislation so that the loan can
be
closed in a timely manner.
• That legislation includes deviating from the
DBR
Guidelines
of
a loan amount exceeding 100,000.
encl.
cc: Mayor
Beamish
Mr.
Dando
Mr. Harris
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~ t Q / ,
Q'(\\Q ity of Troy
u ~
Date: November
7
2014
To: Patrick Titterington, Director of Public Service and Safety
From: Gregg Harris, Assistant Development Director
Subject: DBR Loan application from Ryan & Sarah McNeill
·--··- ·-··-
ity
Hall
100 South
Market
Street
Troy,
Ohio
45373
937)
339-9601
Please ask City Council to consider approval
of
an application from Ryan and Sarah McNeill for
a Downtown Building Repair Revolving Loan Fund (DBR) loan of 180,765 toward the
purchase of the building located at 9-11 East Main Street.
Built by John Wasserman in 1880, the building known as the Wasserman Building is a strong
contributor to Downtown Historic Troy and listed on the National Register of Historic Places.
Previously held by a trust, the building had been severely neglected and determined
by
the
insurance adjuster to come down in 2007 due to extensive damage from a
roof
collapse.
However, with the combined effort
of
Planning Commission, the city staff and a local private
developer, the building was saved. Through privately invested dollars the building has been
stabilized with a new roof, 1st floor improvements, and has commercial tenants which include
Sweeny Todd Salon and
HER
Realtors.
The
DBR
program has been a catalyst in the revitalization process, providing a critical public
tool in attracting new owners to invest in downtown. The Downtown Loan Committee (DLC)
met in public session on November 7, 2014 and discussed how the public purpose will
be
served
by
approval
of
the loan. The upper story floors have been vacant for decades, and the McNeill's
have a vision to get the upper story floors occupied with office and residential uses. That future
additional capital investment made with private dollars will both greatly strengthen the building
as well as positively influence this block of buildings on the National Register.
The DLC voted to recommend City Council approve the requested loan
by
emergency legislation
and with the following parameters and conditions:
• The loan structure does depart from the adopted DBR Guidelines
of
exceeding $100,000
• Borrower: Ryan and Sarah McNeill
• Co-Borrower: Tom Ruth Ann McNeill
• Loan amount: $180,765
• Interest rate: 3.0% simple annual interest
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~ t Q / •
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City of Troy
u ~
October
31, 2014
To: Members o Downtown Loan Committee
From: Gregg Harris G H
RE: Ryan & Sarah McNeill
-
-
·-·· -
City Hall
1 South
Market
Street
Troy,
Oh
io 45373
wvvw.troyohio gov
Telephone:
937)
339-9601
Fax:
937) 339-9341
Ryan and Sarah McNeill provided an application requesting $175,500 to purchase the property located at 9-11 E.
Main Street.
Built by John Wasserman in 1880, the building known
as
the Wasserman Building is a strong contributor to
Downtown Historic Troy and listed on the National Register
o
Historic Places. Previously held by a trust, the
building had been severely neglected and determined by the insurance adjuster to cotne down in 2007 due to
extensive damage from a roof collapse. However, with the cmnbined effort
o
Planning Commission, the city staff
and a local private developer, the building was saved. Over the last six years, ownership has changed twice.
Through privately invested dollars the building has been stabilized with a new roof, 1st floor improvements, and has
viable businesses.
The building was recently put on the real estate market by owner Mike Atnold, who has signed a purchase
agreement with the McNeill's. Originally listed at $209,000, the agreed purchase price
is
at $195,000. The
McNeill's will provide cash equity o $19,500, which equals the 10 DBR equity match requirements. With the
two business tenants (Sweeney Todd Salon and HER Realtors), the building cash flows positive at $2,850 a month,
more than enough to pay for the approximate $975 monthly debt service over a 240 month period.
The DBR program funds
are
for eliminating the influence o blight
and
to encourage revitalization in Downtown
Historic Troy. As stated in their attached letter, the McNeill's have a vision for the historic building including
upper floor occupancy that will be a combination
o
office and residential. Additional capital investment often goes
into a building when there
is
a change o ownership, reducing the overall deteriorating effects downtown. The DBR
program has been a catalyst in the revitalization process, providing a critical public tool in attracting new owners to
invest in downtown.
Ryan McNeill has also requested that the 3% closing fee ($5,265) be rolled into the loan for a total of$180,765.
I recommend the DLC recom1nend
to
City Council approval o the loan with the following terms:
• Borrower: Ryan and Sarah McNeill
• Co-Bm1·ower: Tom & Ruth Ann McNeill
• Loan ammmt: $180,765
• Interest rate: 3.0% simple annual interest
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October 20, 2014
City of Troy, Ohio
_
AN S R H ~ C N E I L L
100 South Market St.
Troy, OH 45373
Dear Members
of
the Troy Downtown Committee:
I'm writing
to
you today seeking loan funds from your
Downtown
Building Repair Program
in order
to
purchase 9-
11
E Main Street.
It may seem unusual for out-of-staters like ourselves
to
pursue ownership
of
building in
Troy,
but
we actually have long-standing ties
to your
community. My wife Sarah
grew up
in
Troy, and her immediate family still resides in Troy and surrounding communities.
Although we now live in Norman, OK, we adore Troy and think
of it
like a second home.
Since
my
first visit
to
your town, I have been extremely impressed with its beauty, and the
pride
of
ownership that your residents clearly take in their homes and businesses.
Sarah and I just recently relocated to Norman from Los Angeles, where I have lived and
worked for the past 10 years in the film industry. We moved
to
Oklahoma a year ago to be
closer
to
my
family and immediately
undertook the
renovation
of
a historic 4-unit
residential building near the University
of
Oklahoma campus.
Our
focus was
to
preserve
the
house's historical integrity, while making
design-minded
improvements
to the
interior
to increase its value and usability. These same principals will guide our planned
renovations of
9-11
E. Main
St.
in Troy.
This
building
fits the criteria that we've been seeking
as
a follow-up real estate project-a
historic building with a lot
of
character in
an
economically -sound area with existing
positive cash-flow. We
would
love to see this building brought back
to
its former glory
with add itional office space and loft-style apartments on
the upper
floors. Your
downtown
loan program with its favorable terms would be a
tremendous
help in terms
of
freeing up
money
that can be earmarked toward these renovations.
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confidence that renovations
to
the
upper
floors will result
in an
even greater return on
our
investment.
We are seeking a loan
of
90% of the purchase price of $195
000,
or
$175
500. We plan to
put
down a downpayment
of
$19
500 in cash, or 10%
of
the purchase price. Ideally, we
would love
to
lock in a 20-year loan at a fixed rate of 3 .
We
are aware that this loan has a
3 closing fee, which we would ask
to
be wrapped back into
the
loan. This would bring
the total loan to $181,350.
t
an estimated month ly payment of $1,006 on a
3
20-year
fixed, we are confident in our ability
to
make this loan payment from our rental income.
My parents have also agreed
to
be co-signers on this loan. They bring with them over 50
years
of
experience in real estate ownership and
development
in Oklahoma. ·
My work schedule in the coming weeks is quite busy with a lot of travel. I would
ask,
therefore, that should this loan application come before a committee, I could have our
local real estate agent, Lisa Stetzel, appear on
our
behalf. If my work permits me to be
there in person, I certainly will.
Thank you for considering us for your loan program. We would be thrilled to contribute to
the economic development
of
Downtown Troy
Sincerely yours
1
--r f.-1 i
Ryan McNeill
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CITY O TROY
APPLICANT/BORROWER
CO-APPLICANT/CO-BORROWER
Full Name Ryan & Sarah McNeill
Full Name
Tom Ruth Ann McNeill
BIN
______________
BIN
Address ofResidence
408
Chautauqua Ave, Apt 2
City/State/Zip Code _N_o_rm_a_n...:...,_O_K_7_3_0_69________________________
Telephone
(323)
206-0998
Fax
E-Mail (optional) [email protected]
LOAN INFORMATION
City DBR Request . . . . ; _ 1 7 . . ; _ 5 ~ , 5 . . ; _ 0 : . . . . . : : 0________
Total Project Cost
%. _1_95_.:,.,0_0_0
_
Purpose of Loan loan is requested for the purchase of 9-11 E. Main
St.
The requested amount is 90 of the
agreed upon purchase price of 195,000.
Source of Funds for Repayment 2850/mo in gross rents from Sweeney Todd Salon ( 1350) and HER Realtors ( 1500)
Proposed Collateral/Security for Loan
_9_ 1_1_E_._M_a_in_St_.
Estimated Equity Value of Collateral/Security 1 9 _ 5 _ . . . - = - 0 0 : . . . . : 0 ~ - - - - - - - - - - - - - - - - - - - - - - -
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BUSINESS
INFORMATION
Name
o f B J l ~ i ~ ~ ~ s
Address o f . B i f s ~ t : e ~ . s
City/State/Zip Code
_____________________________
Telephone
__
_ _________
Fax
_________________
E-Mail optional)
______________________________
Business Legal Status: Sole Proprietorship
___
Corporation
___
Partnership
___
Other state)------------
Years
in
Operation
_________
Federal Tax ID
Business Borrowing Resolution Required?
Yes
No
SOURCE
AND USE
OF
FUNDS
TroyDBR
Other Equity
Fa9ade Improvements
Interior Rehab
of
Code Violations
Interior Rehab Non-code Violations)*
Acquisition of Real Estate
175,500 .
19,500 (cash).
Other List Below)
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REAL ESTATE OWNED (principal residence and any other real estate)
Address Market Value
Wilson Nursing Center 867
US
Hwy
70
Alt Wilson, OK 73463 2,100,000
39
Thomas St Healdton, OK 73438 250,000
408 Chautauqua Ave Norman, OK 73069 215,000
PROP RTY
INSURANCE COVERAGE FOR SUBJECT PROPERTY
Mortgage Balance
0
0
155,000
N a m e a ~ A d ~ s ~ ~ c ~ f u m r n n ~ A g ~ t _ W ~ i l l ~ p = r ~ ~ ~ i ~ ~ ~ - - - - - - - - - - - - - - - - - ~
Policy Amount of overage
ATTACHMENTS
Please check those that re attached and/or provide an explanation or status of attachment:
Cost Estimates/Contracts
Construction Plans/Drawings
Troy Historic District Review
Personal Financial Statement
Business Financial Statement
Property Deed
Lease Agreement
Other (List)
Borrower's Recent
Tax
Returns
X
n/a
n/a
X
n/a
forthcoming
X
X
Signed purchase contract attached
Construction not being financed
with
city loan funds
Borrower's & C o ~ B o r r o w e r s Personal Financial Statments
Lease agreements for 9 & E Main St attatched
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CERTIFICATION OF APPLICANT(S) :
Please
read
the
following statement.
If
you do
not understand
any
part
of
it or
have any questions
about
what
you
are
being asked to:sign, please
ask
someone from Troy Main Street
or the
City of
Troy s
Planning
and Development Department to help you. Each applicant
must
sign below. Should any information on
this application be found to ·be false or incomplete, such findings may be grounds for denial of the .
requested assistance.
I (we) certify that all information.in this. application is
tn1e
and complete to the best
of
my (our) lmowledge and
belief. I (we) understand this'iriformation
is
subject to verification.
I
(we) understand that the personal financial information contained in this application
is
necessary for evaluation
of
my (our) application for assistance. This information, however, will remain confidential and will not be
disclosed to the news media or other third parties.
I
(we) further understand that my (our) name, address, and
total amount
of
assistance will be subject
to
public disclosure since public funds are being utilized to assist in the
improvement
of
my
om·)
property.
PENALTY
FOR
FALSE
OR
FRAUDuLENT STATEMENT: U.S.C. Title
18,
Section
1001,
provides:
Whoever,
in
any matter withih
the
jurisdiction
of
any department or agency
of
the United States lmowingly and
willfully falsifies, conceals or .covers up a material fact, or makes any false, fictitious or fraudulent statements
or
representations, or makes or uses any.false writing or documents, knowing the same to contain any false, fictitious
or fraudulent statement or entry, shall be fmed not more than
$10,000
or imprisoned not more than five years, or
both.
10/20/2014
Applicant
Date
~ ~ u
10/20/2614
Co-Applicant
Date
. t
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RECRE TION P RKS
COMMITTEE
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TROY OHIO
. ·· ··· ······· ·
1 1 ( ·
TO:
FROM:
DATE:
MEMORANDUM
Mrs. Baker, President of C
J
cil
Patrick E J. Titterington ;/4
November
7, 2014
Patrick E. J. Titterington
100
S.
Market
Street
P. 0
Box
3003
Troy, Ohio 45373
wwvv troyohio.gov
phone: (937) 335-1725
fax: (937) 339-8601
patrick. [email protected]
SUBJECT:
BIDDING AUTHORIZATION, TREASURE ISLAND PARK CONSTRUCTION
ELEMENT
OF
THE
RIVERFRONT
DEVELOPMENT PROJECT
REQUESTED ACTION:
That legislation is approved by Council authorizing the Director of Public Service
and
Safety to
advertise for bids and
enter
into a contract for the construction
of the
Treasure Island Park
at
a
cost not to exceed
1
,723,000
BACKGROUND:
As
indicated
in
the
attached
communication
from the City Engineer,
the
final design plans for
the Treasure Island Park portion of the Riverfront
Development
Project are nearing
completion. The
project will
include an amphitheater
pavilion, and gazebo as well as a
walking trail, landscaping, parking lot reconstruction, entrance way enhancements
and
other
amenities for
the
park consistent with previous presentations and discussions. From the
total
estimated 1,800,000 project cost, construction is estimated to not exceed 1,723,000.
Attached is a draft rendition of the project.
On
November
7, the Board of Park Commissioners
met
and
reviewed
this information. By
unanimous vote, the Board of Park Commissioners
approved
a motion to recommend that
Troy City Council authorize the bidding and contracting for
the
construction
of the
Treasure
Island Park based on previously discussed enhancements as noted
and
at a cost
not to
exceed 1 ,723,000.
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TO:
FROM
SUBJECT:
DATE:
ity
of Troy
Engineering Department
Patrick Titterington, director
of
Public Service and Safety
Deborah Swan P.E. City Engineer
Authorization to
Bid
Treasure Island Park
November 5 2014
Staff met last week and we are
in
the process of finishing
the
design for Treasure Island
Park
and
are
getting ready
to get the
project ready
to bid. The
project
will include an
amphitheater
pavilion,
and gazebo
as
well
as
a walking trail,
landscaping
parking,
entrance
way enhancements
and other amenities for the park.
Funds for this project are expected to be available
in
the 2015
budget
as the bidding
process will take us into next
year before
we are
ready
to
award
the project.
Staff is requesting authorization to bid Treasure Island Park at a cost not to
exceed
1,723,000. Staff
s not
requesting
an
emergency
for
this
process.
Please let me
know
if you have any questions on
this project.
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