We discussed allocating additional funds to the DOT project last night. For ease of reference, here's the youtube video starting at the time we began discussion:
Ultimately, we had 3 choices:
1.) Delay. If we delayed we'd incur an additional 40k to move the construction crane back to the site (crane was set to leave wednesday), and business owners would suffer the consequences of an incomplete parking project.
2.) Vote no. If we did, the project doesn't get completed. We get stuck with 750k of glass we purchased to complete the facade of the building, which requires the supports that would be installed in this round of construction. We would lose our developer, which means we would also lose the property tax revenue associated with the mixed use that will be able to be installed once this round of construction is complete.
3.) Vote yes. Deplete the Auto Parking Fund, which is used to pay for capital improvements (such as installation of electric car charging stations, stormwater improvements, re-engineering lots) and costs associated with parking enforcement staff. Be able to have the facade we planned for, and retain the developer and consequently the mixed use. Stay on target for a May 2020 opening of the parking portion (though once the construction starts on the mixed use portion the structure will only be able to allow parking on the 1st floor, so 99 spaces).
We were backed into the corner on this, and timing is a particular problem given that the construction company was set to leave Wednesday.
Let's be clear: this is a colossal mistake. Our vendor partners who were supposed to be guiding us through this process failed us, and if they can be held accountable they will be.
We split the item up, and voted YES to an amount not to exceed 1M to complete the 4th floor 'hole', payable from the Auto Parking Fund. We then tasked city management with coming back to council with a complete list of the additional expenses expected, which I understand are reimbursable by the developer (basically, since it's our structure we pay for it, then send them an invoice for the agreed upon work).
Going forward, this shouldn't happen. Strong oversight and measures to increase accountability of partners will be required.
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