HomeMy WebLinkAbout9476No= 439�
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RESOLUTION NO. 9, 476
A RESOLUTION NAMING THE RIVER MARKET
DISTRICT AND RIVER MARKET; ENDORSING
DEVELOPMENT PLANS; RECOMMENDING THE
FORMATION OF A PUBLIC BOARD; AND AUTHORIZING
THE CITY MANAGER TO PROCEED WITH
DEVELOPMENT ACTIVITIES.
WHEREAS, the revitalization of the City of Little Rock core neighborhood is a top
priority for the community and city government; and
WHEREAS, the voters of Pulaski County have given strong endorsement to the
revitalization effort with recent approval of the River Project; and
WHEREAS, the City of Little Rock desires to take an active lead in outstanding
redevelopment of the core City to include effectively coordinating various projects related to the
redevelopment; and -
WHEREAS, private businesses and citizens have come forward with resources and
joined with the public resources to accomplish two major redevelopment projects to serve all
Little Rock citizens.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS
OF THE CITY OF LITTLE ROCK, ARKANSAS:
Section 1. The City of Little Rock hereby officially designates the development of an
entertainment and business area in the East Markham neighborhood as the RIVER MARKET
DISTRICT.
Section 2. The City proclaims its full support for the redevelopment efforts of the River
Market District, a public market to be known as the River Market, and surrounding
neighborhoods and pledges its full support to appropriate private and public projects to move
forward as soon as possible.
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440
Section 3. Improvements to a River Market and the Riverfront Amphitheatre (Projects
# 1 and #2) are approved as outlined in the attached concept and budget documents.
Section 4. The City Attorney and City Manager are directed to recommend a public
Board to guide development and operation of the River Market and Amphitheatre as part of the
overall redevelopment plan to develop bylaws, and establish the Board to draft any other
documents necessary to accomplish the goals outlined in the August 29, 1995 Development
Operations Plan attached.
Section 5. The City Manager is directed to take appropriate actions to proceed with the
redevelopment, to assemble the necessary staff members and City resources to support the
redevelopment, to take appropriate final actions, and to provide for a quality level of
maintenance and care to support the redevelopment activities.
ADOPTED: September 5,. 1995
ATTEST:
ROB IE COCK
CITY CLERK
APPROVED AS TO FORM:
THOMAS CARPE TER
CITY ATTORNEY
APPROVED:
00
Jtrl DAILEY
MAYOR
RIVER MARKET DISTRIO 441
PROJECT #1 - RIVER MARKET
SITE ACQUISITION $400,000
DEMOLITION
Existing One Story Building $10,500
Back 80' of CALCO 15,480
Basements 16.710 42,690
EXCAVATION & FILL
Excavation $ 28,180
Fill 71.270 99,450
RETAINING WALLS & STEPS $ 72,000
3.1 Stone Facing 26.000 98,000
PLAZA PAVING 126,400
RENOVATION OF EXISTING STRUCTURE
(Excluding Facade) $400,700
Facade 75.000 475,700
MARKET BUILDING 842,000
NORTHWEST PAVILION 252,000
TOWER 150,000
SOUTHWEST CORNER PAVILION 180,000
NORTHEAST KIOSK 45,000
SITE LIGHTING 24,000
TREES & GRATING 9,000
SITE FURNITURE
Benches $ 5,600
Tables & Chairs 3,500
Trash Receptacles 5,000
Planter Boxes 2.500 16,600
ARCHITECT, ENGINEERING, DESIGN FEES & CONTINGENCY 277,860
TOTAL $3,038,700
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River Market District
Strategy for River Market and Riverfront Amphitheatre
Development and Operation
August 29,1995
The success of the River Market District depends on quality development and highly efficient operation of
each public and private project located in the River Market neighborhood. The River Market and Riverfront
Amphitheatre upgrade projects are adjacent to each other, have common funding and will contribute to the
overall success of the River Market District.
Because these projects are the first in the district and because the success of the District will initially depend
on these two projects, it has been determined that a new governing board should be formed to guide
development and operation of the two facilities.
The new seven - member River District board will include representatives from the City of Little Rock, the
Convention & Visitors Bureau, the Downtown Partnership, a business located within the District, a
neighborhood citizen, the Library, and the Science and History Museum. The board will be responsible for
directing the ongoing development as authorized by the Little Rock Board of Directors. In addition, the
Board will give management guidance to assure ongoing quality operations.
Key Management Principles
The key management principles to be used by the seven member board include assuring a high level of
quality development and careful coordination of all activities related to project implementation.
Coordination is to include work on site development issues as well as streetscape and linkage to other
individual River Market projects such as the Science and History Museum, the new library and the
Territorial Restoration.
Operating principles will include maximizing the quality of both the River Market and expanded
Amphitheatre developments and directing the management of the facilities effectively. Financial principles
include maximizing the net financial revenues and assuring that revenues are used for highest priority
development and operating needs to support the two facilities.
The Board is to work creatively with the City and others on development needs including East Markham
streetscape, the expanded marina and other important linkages to Riverfront Park.
Security and environmental quality are to be top priorities for Board attention. The Board will work closely
with the City of Little Rock on infrastructure maintenance and police services to assure a high level of
aesthetics and safety. This group will also address the traffic flow, parking and other issues related to the
two facilities.
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Operating Board Membership
The three primary members, (City, Convention & Visitors Bureau and the Downtown Partnership) will each
name a single voting member to the River District Board. Nominations for the other four advisory members
will be reviewed by the Little Rock Board of Directors with final appointments made by the City. Citizens
will be invited to submit nominations for the citizen position. Area businesses will be asked to submit
names for consideration. The Library and the Science and History Museum Boards will nominate their
respective representative.
On -Going Development Strategy and Timetable
Little Rock Public Works and Parks Departments will be the primary entities involved in contracting for
various services required for development of the two projects. (Land acquisition, environmental mitigation,
architect services, engineering work and actual construction). The City of Little Rock will be responsible
for monitoring construction projects and assuring that the work is completed on time.
The River District Board will be formed during the month of September. Members will be briefed on
project status and will conduct regular meetings to review the issues.
Final site acquisition for the River Market is to be completed by the end of September. Demolition and site
preparations are to begin in October, 1995. Final design and engineering work for the River Market
buildings and the Amphitheatre improvements will be completed by the end of October, with construction
contracts to be let in November 1995. The individual time line for completion of each project will be
developed as the construction contracts are finalized.
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RIVER MARKET AND AMPHITHEATRE FUNDING STRATEGY
AUGUST 29, 1995
ORIGINAL FUNDING
Bond Issue $1,500,000
Private Contributions 500,000
$2,000,000
EXPANDED PROJECT FUNDING
Housing and Urban Development Grant
$1,200,000
*Riverfest
250,000
City Surplus Funds
200,000
Tree Planting Program
200,000
Convention & Visitors Bureau
150,000
Additional Private Contributions
200,000
*Library
100,000
*Science & History Museum
100,000
$2,400,000
TOTAL AVAILABLE FUNDING 4,400,000
PROJECTED CAPITAL BUDGET 4,300,000
TWO -YEAR OPERATING BUDGET 100,000
NON -CASH CONTRIBUTIONS (Estimate)
Utility Improvements
$ 500,000
Pavement, Sidewalk, Drainage Upgrade
100,000
Land Donations
130,000
Other
150.000
880,000
TOTAL PUBLIC/PRIVATE PARTNERSHIP
Local Government
$2,150,000
Private Funds
1,930,000
Federal Grant
$1.200.000
TOTAL
$5.280.000
* Pending Final Board Approval
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RIVER MARKET DISTRICT
PROJECT #2 - AMPHITHEATRE IMPROVEMENTS
ENTERTAINER'S BUILDING
$ 186,000
ADMINISTRATION BUILDING
79,000
HOSPITALITY TENT
35,000
V.I.P. PAVILION
41,000
TICKETING BOOTH
60,000
PERMANENT RESERVED SEATS
73,300
UTILITIES AND DRAINAGE IMPROVEMENTS
113,700
NORTHEAST PAVILION
252,000
STORAGE STRUCTURE
36,000
COMMERCE STREETSCAPE IMPROVEMENTS
200,000
ARCHITECT, ENGINEERING DESIGN FEES CONTINGENCY
124,000
TOTAL $1,200,000