Slideshow: RiverFirst Design and Implementation Plan (presented Sept 2011)

A 21st Century Riverfront Above the Falls

September, 2011

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MR|DI – Enhancing the Minneapolis brand

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MR|DI – Extending success above the falls

3 Decades of Downtown Investment:

6:1Private/Public Investment

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MR|DI – Parks framework underpins larger ATF land use update

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Strategy: Opportunistic vision for next generation public investment; plan for short term success

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Phase I is critical to success

1. Bring all Minneapolitans to the river2. Foster advocacy for plan completion3. Secure media attention4. Demonstrate ability to complete

transactions

7Meadow/Emergent Riparian/Upland

Watershed/Habitat Corridors

ECOSYSTEMS

8Loops

MOBILITY NETWORK

9x

River Talk

INFORMATION/ENERGY NETWORKS

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PRIORITY PLAN2-5 YEARS

PHASING PLANS

VISION PLAN10-20 YEARS

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Plymouth Knot Bridge

BNSF Garden Café Bridge

TRAILS & BRIDGES

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Design Team Slides go here

BIOHAVENS

1326th AVE/FARVIEW EXTENSION

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26th AVE/FARVIEW EXTENSION

15SCHERER PARK DISTRICT

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SCHERER PARK DISTRICT

17NORTHSIDE WETLAND PARK

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NORTHSIDE WETLAND PARK

19DOWNTOWN GATEWAY PARK

HR&A Advisors, Inc. Minneapolis Riverfront Development Initiative | 20

Phase I Capital Costs

* Excludes easement/land acquisition for trails** Costs developed by Mortenson Construction

Phase I ProjectConceptual

Development Cost

($ Millions)Riverfront Trails System $52Knot Bridges $15Biohavens $10Scherer Park District $23Northside Wetland Park $45

Projected Conceptual Development Cost $145Contingency (20%) $30

Potential Conceptual Development Cost $175

Downtown Gateway Initiative $20 (TPL Estimate)


Great ideas, great designs, and strong leadership attract capital.


Make the first phase real: match third-party sources to priority projects

1. Legacy Amendment Funding2. Transportation Enhancement

Funds3. Elwell Law4. EPA Brownfield Funds5. Private Sponsorships &

Philanthropy6. Other local & federal sources


Match third-party sources to appropriate priority projects

1. Legacy Amendment Funding2. Transportation Enhancement

Funds3. Elwell Law4. EPA Brownfield Funds5. Private Sponsorships &

Philanthropy6. Other local & federal sources


Typically, a wide range of operations & maintenance sources.

Public

Private

Earned Income

General Fund

Special Levy

BID Charge

Parking Fees

Food &Beverage

Events & Promotions

Corporate Sponsorsh

ipPhilanthro

py

Real EstateProceeds501(c)(3)


Securing non-MPRB operating resources will be challenging

NOT Downtown

NOT affluent neighborhoods

NOT a city projected for significant near-

term growth

LIMITED real estate value creation (total $)

LIMITED corporate interest

LIMITED philanthropy

+


MPRB funding will be critical, particularly in early years.

Public

Private

Earned Income

General Funds

Special Levy

Special Assessm

ents

Parking Fees

Food &Beverage

Events & Promotions

Corporate Sponsorsh

ipPhilanthro

py



Real estate-related sources will most likely provide the greatest magnitude of private funding.

Public

Private

Earned Income

General Fund

Special Levy

Special Assessm

ents

Parking Fees

Food &Beverage

Events & Promotions

Corporate Sponsorsh

ipPhilanthro

py



Target 2 primary sources: ground lease payments & Housing Improvement Areas / Special Assessment Districts

Low-Rise Residential

Owner-Operator

Sources: Bay Area Economics; site appraisals


Stormwater management fee savings may be repurposed for parkland O&M.

Public

Private

Earned Income

General Fund

Special Levy

Special Assessm

ents

Parking Fees

Food &Beverage

Events & Promotions

Corporate Sponsorsh

ipPhilanthro

py



Recapture existing stormwater management fees

Impervious Lot Area

E.S.U. Stormwater FeeX =

Impervious Lot Area

Reduction

E.S.U.

Additional

Stormwater

Cleaning

$$$ Available for Park

O&MX + =


Other sources should continually be pursued by park stewards.

Public

Private

Earned Income

General Fund

Special Levy

Special Assessm

ents

Parking Fees

Food &Beverage

Events & Promotions

Corporate Sponsorsh

ipPhilanthro

py



Implementation and governance must be coordinated by multiple parties.Project Lead Support

Trail System MPRB County, City, CP, BNSF, Land Owners, MWMO, Neighborhood Constituents

Biohavens Midwest Floating Islands

MPRB, Army Corps, MWMO, National Park Service, Sustology

Scherer Park District

MPRB City, State, Army Corps., NPS, MWMO

Northside Wetlands Park

City MPRB, MWMO, NPS, Institutional Partners

Downtown Gateway

Trust for Public Land

Downtown Stakeholders, City, MWMO, NPS, MPRB

A 21st Century Riverfront Above the Falls

September, 2011

Slideshow: RiverFirst Design and Implementation Plan (presented Sept 2011)

Design

Transcript of Slideshow: RiverFirst Design and Implementation Plan (presented Sept 2011)