April 17, 2011
by John Kiljan
In what appears to be a good deal for Arvada, the City Council plans to approve a draft intergovernmental agreement (IGA) with RTD over Gold Line financing. The proposed agreement is up for a public comment and approval at this Monday night’s City Council meeting.
The City of Arvada, along with other local governments, must provide a 2.5% funding match for the cost of the Gold Line’s construction. The draft agreement in front of the Council tomorrow night allows much of that contribution to be made in-kind instead of in cash. The IGA will also fix the cost of the contribution at maximum of $4,429,000 — no matter how expensive the actual construction turns out to be. Previous estimates had been as high as $6 million for the City’s contribution.
The draft agreement allows the City’s planned $1-million-plus reconstruction of 56th Avenue between the Bypass and Vance Street in Olde Town to count as an in-kind contribution to the project. During RTD’s Environmental Impact Statement (EIS) meetings, it had appeared that kind of contribution would not be allowed as a matching contribution for the project.
Also in the draft agreement is a plan to move up the construction schedule for the building of the parking structure in Olde Town by seven years to 2023. The EIS had previously called for RTD to build the structure as late as 2030. There is a caveat, however. RTD will only build the structure in 2023 if there is enough money available.
During a study session presentation on April 4th, the Council was told that the City is still in negotiations with RTD over the financing and construction of the new parking structure.
Here is an excerpt regarding the parking structure from the draft IGA:
6.5 Olde Town Station.
RTD will include an elevator as a part of the design and construction of the surface parking at Olde Town Station by Opening Day, and construct structured parking at this location (the “Parking Structure”) by 2023, provided that funds are available and contingent upon Board approval. RTD will coordinate with the City regarding the placement and design of the Parking Structure at the Olde Town Station. If the Parking Structure is funded by the City, or a third party, such funds may be applied to reduction of the City’s Local Agency Contribution, in accordance with the terms of this IGA. If the Parking Structure is funded, RTD will coordinate with the City and the Olde Town Design Review Committee regarding special design features for canopies at Olde Town Station.
WHERE TO FIND OUT MORE
The full text of the draft IGA and enabling ordinance can be found by clicking on http://arvada.org/government/city-council-packets/ and clicking on the “Current City Council Packet” link.
Johb Kiljan, CLRC News: 303-423-9875 or email@example.com
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