Memo for fiscal year 2017, updated 2016-04-01

[Archived] Given the pace of development and the developer contributions, does the Seminary Road and Beauregard Street Ellipse project require delay in the CIP?

The Seminary Road at Beauregard Street Ellipse Project is funded in the CIP with $36.4 million entirely from developer contributions with the first $3.5 million showing in FY 2018.  As there may be a delay from the development community, it makes sense to delay the project one year to FY 2019. Staff will examine this delay more closely in the context of the FY 2018 budget process to better align the project with the projected pace of development and, more importantly, consider what, if any, additional funding sources need to be identified and considered in the early years to advance the design process.

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