Agenda - 02-23-2012 - Agenda - Laserfiche WebLink

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Staff will provide any other information at the meeting, and the Boards can discuss issues related to this item as necessary. No Attachments f) Update on Riverwalk and its Economic Impact The Town has completed conceptual planning of Phase II of Riverwalk. The color coded attached map details the various portions on the project. The Town has submitted a grant request to the State Parks and Recreation Trust Fund seeking $425,000 to fund final design and construction of the portion of Riverwalk connecting Gold Park to River Park. The Town will also be seeking $75,000 from the State Recreational Trails Program next year to further support this project and expects to match these funds with local funds to fully fund this high priority project. The Town also hopes to modify the current Congestion Mitigation and Air Quality (CMAQ) funding for Riverwalk to fund some necessary sidewalk improvements that connect neighborhoods to Riverwalk to greatly enhance safe access to this community resource. Shortly, the Town plans to begin construction on the Calvin Street connecting path to provide safe pedestrian access to Gold Park and Riverwalk from Calvin Street to access the covered walkway under the railroad. This facilitates pedestrian access into Gold Park and avoids the use of the trestle for walkers. Further connections to the east and west have been delayed for cost considerations. The Town now expects the trail surface to change heading west from Allison Street and east from Cameron Street based on desires of the resources that the trail will connect to and the unique landforms being crossed to make those connections. Neither Classical Home Preservation Trust nor the Occoneechee State Natural Area actively permit wheels on their path systems, so pavement is not necessary or desirable for these sections. A schedule for proceeding with these connections has not been established and may rely on community fundraising. Many studies have been conducted trying to calculate the economic and social impact of recreation investments. These numbers range from $1.80 to $25 per dollar invested, with more reports falling in the 1:5 or 1:3 range. Part of the wide variety in numbers depends on how many benefits were attempted to be calculated (social as well as economic) and the variety of recreation resources included in the study. When the paved portion of Riverwalk is complete, the total investment in Riverwalk and Gold Park will exceed $6M, including significant grant support. Staff will provide any other information at the meeting, and the Boards can discuss issues related to this item as necessary. Attachment 44 — Riverwalk Phase 11 Planning Map FINANCIAL IMPACT: There is no direct financial impact associated with discussion of these topics. There are no action items requiring formal Board decisions. RECOMMENDATION(S): The Managers recommend the Boards discuss the topics listed and provide appropriate direction to the respective staffs.