Resolution 2025-141 - Laserfiche WebLink

Home Browse Search

retated to util.ities work has been compteted as a part of some initial. fietdhouse design workthat compteted in late 2023 bythe Hetix Design Group. ln terms of project readiness, the project is located on city owned property, a significant portion of the project funding is atready in ptace, outreach work has been done with community stakehotders to hetp identifu amenities that need to be included in the buitding as wel,t as space needs, the staffing ptan is to retocate staff from the Stan Bassett Youth Center to the fietdhouse, a draft'Request for Quatifications'to construct the buitding is al.ready compteted, and city has hired the Pacifica Law Group, a firm with a tot of work experience devetoping and working with pubtic/private partnerships, to hetp watk the city through the process of getting a contractor setected and the project underway. 2. Risk Management ldentify potentiat risks or chattenges for the project (e.g., detays, budget overruns| and provide strategies to mitigate these risks. pursuant to the authority under Chapter 35.42 RCW the city anticipates the most tikety devetopment scenario as fottows: the city intends to negotiate a series of agreements with the setected devetoper, inctuding a site ground tease, a devetopment agreement, and a facitity tease. The devetoper witt design and construct the facitity pursuant to a design and specifications approved by the city at its sote cost and expense. The city witt tease back the fietdhouse from the devel.oper, with an option to purchase the compteted fietdhouse at any point during the term of the ground tease. Ownership of the fietdhouse woutd revert to the city at the end of the ground lease term untess the city has eartier exercised its purchase option. ln the devetopment of the lease, the city can estabtish a not to exceed project cost, thereby ptacing project risks associated with cost overruns on the devetoper. Under this statute there is minimat risk to the city. This partnership modet reduces risk to County todging tax support. The purchase options can onty be exercised after the facitity is futty constructed, thereby protecting the County's investment in the Project. Vl. Tourism Metrics and Success Measurement For capitat projects, we recognize that traditionat short-term tourism metrics such as visitor counts, overnight stays, or immediate revenue generation may not be measurabte during the construction phase or shortty after completion. However, it is essentiat that appticants demonstrate how the proposed project witl support tourism in the tong term and how success witt be evatuated over time.