Title
Symphony Park Infrastructure Reimbursement Agreement
Action
Action:
A. Authorize the City Manager to negotiate and execute an Infrastructure Reimbursement Agreement with South Park Community Partners (SPCP) for the design and construction of transportation and park improvements in an amount not to exceed $8,000,000, and
B. Adopt a budget ordinance reappropriating $770,229.08 from the Park South Drive Extension project to the Symphony Park Redevelopment project in the General Capital Projects Fund.
Body
Staff Resource(s):
Sha Rana, Economic Development
Todd DeLong, Economic Development
Explanation
* Symphony Park is approximately 7.5 acres located at the corner of Barclay Downs Drive and Carnegie Boulevard in Council District 6.
* The Park is owned by Simon Property Group and is required to be made available for public use as a park facility.
* The city partnered with the Urban Land Institute (ULI) in 2016 to facilitate a ULI Technical Assistance Panel (TAP), which recommended strategies to transform the area into a more walkable, multimodal, and mixed-use activity center.
* The TAP emphasized the need for improved pedestrian connectivity, diversified land use, and the creation of public spaces.
* SouthPark was one of the six Comprehensive Neighborhood Improvement Program (CNIP) areas supported by bond funding in 2016 and 2018. More than $7.2 million of funding will be contributed from the CNIP program, as well as $770,229.08 from the 2016 Park South Drive Extension project in District 6, which was determined to not be viable.
* The SouthPark CNIP Playbook, finalized in 2018 after extensive community engagement, identified top projects to enhance connectivity, green spaces, and public amenities.
* The SouthPark Forward 2035 Vision Plan positions Symphony Park as a central element in transforming SouthPark into a more connected, vibrant, and community-focused district.
* This plan envisions Symphony Park as SouthPark's signature open space, reimagi...
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