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2. Risk Management: ldentify potential risks (e.g., delays, budget overruns) and proposed <br />mitigation strategies to address them. <br />With the need for review and approval from the WSDOI the project faces the risk of delays due <br />to long review periods. ln order to mitigate this risk, the city plans to conduct weekly progress <br />meetings as necessary and start WSDOT Design Documentation Approval immediately following <br />design funding obligation. <br />Vl. Measurements & Reporting: Describe the metrics and methods you will use to evaluate the <br />project's economic impact post-completion, <br />A method to evaluate the project's economic impact is to keep track of how many new <br />businesses open after the resurfacing project is completed. Growth can also be quantified by <br />how many new business licenses are applied for. Another method is tracking the sales tax <br />revenues before and after the project is completed, as new business will generate more sales <br />tax revenue. The City of Cle Elum has implemented paid parking along the First Street <br />downtown corridor to generate revenue for maintenance. Tracking the increase in downtown <br />parking revenue after the First Street Resurfacing project is complete will also demonstrate the <br />economic impact of the project.