An update from the Community Development Committee on the Route One Infrastructure Plan.
Action: No Council action is anticipated.
The Community Development Committee (CDC) has completed a Concept Infrastructure Plan for Route One from Route 88 to the Turnpike Spur.
The CDC is currently gathering business and community feedback on the Concept Plan. A topographic survey of Route One has recently been completed. Using the feedback and the survey data, the CDC is in process of fine-tuning the Concept Plan and truning it into a Preliminary Plan. Cost estimates for the Preliminary Plan will also be prepared.
The CDC intends to bring a Preliminary Infrastructure Plan back to the Council for its endorsement along with proposed Referendum language for the June 11, 2013 election authorizing the Town to expend the necessary funds to implement the plan.
The Infrastructure Plan is expected to cost between $5.6-10.8 MM, depending if underground power is included or not. The CDC proposes that the cost of the plan be financed by the Route One South Tax Increment Financing District and that the term of the district is extended from 2023 to 2030.