Title
Consideration of a Resolution to apply for a Livable Centers Initiative (LCI) Implementation Grant for the Oak Street Streetscape Project - Phase II from the Atlanta Regional Commission (ARC) in the amount of $1,592,887
Body
Item Summary:
The Atlanta Regional Commission (ARC) has issued a call for applications for LCI Implementation grant proposals for eligible projects within LCI study areas. Applications are due September 20, 2011. The grant provides 80% Federal matching funds with a 20% local cash match. This is a reimbursement style grant with no in-kind match allowed.
The grant would be used to complete Phase II of the Oak Street Streetscape project, which extends from Bush Street to Myrtle Street. Additionally, the grant would pay to extend Ellis Street as a "green street" from Oak Street to Grove Way, as identified in the Groveway Community Charrette.
The $1,592,887 grant request is based on an estimated total project cost of $1,991,109. The City would make up the balance of $478,839.84 with grant and City funds that are expected to remain after the completion of Oak Street Phase I. This amount represents the 20% match of $398,221.80 and an additional $80,619.04 for right-of-way acquisition.
Committee or Staff Recommendation:
Financial Impact:
The $1,592,887.00 grant request is based on an estimated total project cost of $1,991,109.00. The City would make up the balance of $478,839.84 with grant and City funds that are expected to remain after the completion of Oak Street Phase I. This amount represents the 20% match of $398,221.80 and an additional $80,619.04 for right-of-way acquisition.
Presented by:
Alice Wakefield