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HomeMy WebLinkAbout2009/05/11 - ADMIN - Agenda Packets - City Council - Study SessionAGENDA MAY 11, 2009 COUNCIL CHAMBERS Councilmembers Basill and Finkelstein Absent 6:30 p.m. CITY COUNCIL STUDY SESSION Discussion Items 1. 6:30 p.m. Future Study Session Agenda Planning – May 26, 2009 2. 6:35 p.m. Parks and Recreation Advisory Commission 2008 Year End Report and 2009 Work Plan (with Commission) 3. 6:50 p.m. Minnetonka Boulevard and Park Place Boulevard Study Updates, and Bicycles and Pedestrians Discussion 4. 7:50 p.m. Comprehensive Plan – Land Use 5. 8:35 p.m. Communications (Verbal) Written Reports 6. Project Update - W. 36th Street Streetscape - Project 2008-2600 7. Quarterly Investment Report (January-March, 2009) 8:45 p.m. Adjourn Auxiliary aids for individuals with disabilities are available upon request. To make arrangements, please call the Administration Department at 952/924-2525 (TDD 952/924-2518) at least 96 hours in advance of meeting. Meeting Date: May 11, 2009 Agenda Item #: 1 Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance Presentation Other: EDA Meeting Action Item Resolution Other: Study Session Discussion Item Written Report Other: TITLE: Future Study Session Agenda Planning – May 26, 2009. RECOMMENDED ACTION: Council and the City Manager meet to set the agenda for the study session on May 26, 2009. POLICY CONSIDERATION: Does the Council agree with the agenda as proposed? BACKGROUND: At each study session, approximately five minutes are set aside to discuss the next study session agenda. For this purpose, attached please find the tentative agenda and proposed discussion items for the study session on Tuesday, May 26, 2009. FINANCIAL OR BUDGET CONSIDERATION: None. VISION CONSIDERATION: None. Attachment: Future Study Session Agenda Planning for May 26, 2009 Prepared by: Marcia Honold, Management Assistant Approved by: Nancy Gohman, Deputy City Manager/HR Director Meeting of May 11, 2009 (Item No. 1) Page 2 Subject: Future Study Session Agenda Planning Tentative Discussion Items Study Session, Tuesday, May 26, 2009 - 6:30 p.m. (Councilmember Sanger absent) 1. Future Study Session Agenda Planning – Administrative Services (5 minutes) 2. Detailed Engineering Study Results – Inspections (45 minutes) The city’s consultant will discuss the detailed engineering study results with the City Council. Does the Council wish to proceed with the recommendations as proposed? 3. Legislative Update – Administrative Services (45 minutes) Staff will provide the Council with an update on the state and federal legislative activities, including funding initiatives and the Glencoe Railroad Mitigation Project. What are the Council’s future legislative priorities? 4. Highway 7 / Wooddale Avenue Update – Public Works (45 minutes) Staff will provide Council with an update on the Highway 7 / Wooddale Avenue Interchange Project, including scheduled and funding implications. Does the Council wish for staff to proceed with the bid letting for this project? 5. Communications – Administrative Services (10 minutes) Time for communications between staff and Council will be set aside on every study session for the purposes of information sharing. End of Meeting: 8:45 p.m. Meeting Date: May 11, 2009 Agenda Item #: 2 Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance Presentation Other: EDA Meeting Action Item Resolution Other: Study Session Discussion Item Written Report Other: TITLE: Parks and Recreation Advisory Commission 2008 Year End Report and 2009 Work Plan. RECOMMENDED ACTION: This report summarizes work performed by the Parks and Recreation Advisory Commission (“PRAC”) in 2008 and outlines the intentions of PRAC for work to be performed in 2009. PRAC requests feedback and guidance from Council regarding both reports. POLICY CONSIDERATION: Is the City Council comfortable with PRAC’s work plan for 2009? BACKGROUND: In accordance with Council policy, the 2008 Year End Report and 2009 Work Plan were submitted for Council review at the February 23, 2009 study session. Vice Chair, George Hagemann will be present to discuss. FINANCIAL OR BUDGET CONSIDERATION: Not applicable. VISION CONSIDERATION: The 2009 PRAC Work Plan includes participation in several focus areas of the Vision Process. Attachments: Parks and Recreation Advisory Commission 2008 Year End Report Parks and Recreation Advisory Commission 2009 Work Plan Prepared by: Stacy Voelker, Administrative Secretary Reviewed by: Cindy Walsh, Director of Parks and Recreation Approved by: Nancy Gohman, Deputy City Manager/HR Director Meeting of May 11, 2009 (Item No. 2) Page 2 Subject: Parks & Recreation Advisory Commission 2008 Year End Report and 2009 Work Plan Parks and Recreation Advisory Commission (“PRAC”) 2008 Year End Report The Parks and Recreation Advisory Commission Purpose: The Commission shall study and consider all phases of public parks and recreation and recommend to the City of St. Louis Park and Independent School District #283 a park and public recreation program which best meets the needs of all residents of St. Louis Park. 2008 Parks and Recreation Advisory Commission Steve Hallfin, Chair Kirk Hawkinson, Vice Chair R. Bruce Cornwall George Foulkes George Hagemann Tom Worthington Lauren Webb-Hazlett, Student Representative Vacant, School Board Representative Parks and Recreation Department Staff Cindy Walsh, Director Rick Beane, Park Superintendent Rick Birno, Recreation Superintendent Mark Oestreich, Westwood Hills Nature Center Manager Craig Panning, Manager of Buildings and Structures Jim Vaughan, Environmental Coordinator Stacy Voelker, Administrative Secretary 2008 Highlights Members of the Commission actively participated in the community visioning process by contributing to the regular vision meetings and keeping the Commission apprised of its activity. Commission member George Hagemann was a member of the Sidewalks and Trails vision action team and Commission member George Foulkes participated on the Gathering Places vision action team. Meeting of May 11, 2009 (Item No. 2) Page 3 Subject: Parks & Recreation Advisory Commission 2008 Year End Report and 2009 Work Plan The Parks and Recreation Advisory Commission, along with the Planning Commission, met, reviewed and discussed the Parks, Open Space, and Natural Resources chapter of the comprehensive plan. Throughout the year, staff presented Park Improvement project updates to the Commission such as playground replacement, field maintenance, easements, park dedication, building renovation, etc. The Commission assisted staff to make the annual Park & Run Fun Run held in May successful. Along with the 5k run event, members assisted in offering a new event at the Aquatic Park. This event, “Splash in Movie at the Pool” was offered on Friday, August 15 and was sponsored by M & I Bank. The Commission participated in the Minnehaha Creek clean up on Saturday, April 19. Two dump truck loads of debris were removed from the creek in this two-hour venture. On June 23, 2008 the Commission, along with the City Council, enjoyed a canoe ride on Minnehaha Creek. Youth Association representatives have attended monthly Commission meetings providing an update of their association and discussing ideas to foster a better relationship with participants, other associations and the city. In 2008, the Commission met with the Football Association, Girls Traveling Basketball Association, and the Traveling Baseball Association. Meeting of May 11, 2009 (Item No. 2) Page 4 Subject: Parks & Recreation Advisory Commission 2008 Year End Report and 2009 Work Plan 2009 Parks and Recreation Advisory Commission Kirk Hawkinson, Chair George Hagemann, Vice Chair Jenny Coig, School Representative George Foulkes, School Representative Steve Hallfin, City Representative Tom Worthington, City Representative Christina Barberot, City Representative Vacant, Student Representative 2009 Goals ¾ Athletic Association Relationship: Invite each association to their monthly meetings to continue a positive relationship. ¾ City Vision: Participate and keep updated on Vision to meet the goals. ¾ Commissions: Meet with other commissions as appropriate. ¾ Group facilitation: Assist in facilitating interested groups and other park and recreation users. ¾ Minnehaha Creek Clean-Up: Organize a clean up of the creek and creek shores. ¾ Planning Initiatives: Provide continual input on Comprehensive Plan and actively participate in the Active Community Planning Initiative for trails and sidewalks or other initiatives as appropriate. ¾ Recreation Resources: Invite Council to participate in exploring the city’s recreation resources. ¾ Staff Appreciation Luncheon: Serve an appreciation luncheon for staff. 2009 Parks and Recreation Advisory Commission Work Plan Meeting Date: May 11, 2009 Agenda Item #: 3 Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance Presentation Other: EDA Meeting Action Item Resolution Other: Study Session Discussion Item Written Report Other: TITLE: Minnetonka Boulevard and Park Place Boulevard Study Updates, and Bicycles and Pedestrians Discussion. RECOMMENDED ACTION: • Discuss the Minnetonka Boulevard and Park Place Boulevard Studies • Discuss the Bicycles and Pedestrians Plan POLICY CONSIDERATION: • Review the recommended goals and policies in the Minnetonka Boulevard Study, Park Place Boulevard Study, and Bicycles and Pedestrians section of the Comprehensive Plan BACKGROUND: The City has made many sidewalk, trail and intersection improvements since adoption of the existing “1999 Sidewalks and Trails Plan”. The Bicycles and Pedestrians section is an update of the existing plan. It is not a major departure from the existing plan; rather, it suggests the next areas of focus based upon extensive public input from Vision St. Louis Park, Active Living-Sidewalks and Trails Plan, Minnetonka Boulevard Study, and Park Place Boulevard Study. The City undertook the Minnetonka Boulevard Study and the Park Place Boulevard Corridor Study following the bulk of the work done on Active Living-Sidewalks and Trails plan. Aspects of each study will be included in the 2030 Comprehensive Plan update for sidewalk and trails; in addition, each study has unique goals and next steps, listed below. Full copies of each study are available online at the City’s website ( http://www.stlouispark.org/development_projects.htm#3219 ). MINNETONKA BOULEVARD STUDY: The Minnetonka Boulevard Study looks in detail at the overall roadway function for vehicles, transit, bicycles and pedestrians in the area between Interstate 494 in Minnetonka and Highway 100 in St. Louis Park. The study was funded by Hennepin County, Minnetonka, and St. Louis Park. Stakeholder involvement included one large meeting attended by interested parties from neighborhoods abutting Minnetonka Boulevard. Meeting of May 11, 2009 (Item No. 3) Page 2 Subject: Minnetonka Boulevard and Park Place Boulevard Study Updates, and Bicycles and Pedestrians Discussion Next Steps: • City Council accepts the Minnetonka Boulevard Study as complete • Use design standards from the study for private redevelopment and public investment in and around the corridor, including the use of ‘Complete Streets” principals. • Review the study’s suggestions for the Minnetonka Boulevard bridge over Highway 100 in light of the forthcoming MnDOT Highway 100 reconstruction project. • Incorporate the recommendations of the study into future reconstruction projects along Minnetonka Boulevard. PARK PLACE BOULEVARD CORRIDOR STUDY: The Park Place Boulevard Corridor Study is designed to enhance the bicycle and walking environments within the Xenia Avenue / Park Place Boulevard corridor between St. Louis Park and Golden Valley. Major priorities of the study include improvements to the walking environment around the I-394 and Park Place Boulevard intersection, improved access to regional trails and parks, and increasing accessibility to key destinations like office towers by bike or transit. The study was funded through the Federal Non-Motorized Transportation Pilot Program through a partnership with Transit for Livable Communities. Major stakeholder involvement included web-based outreach, meetings with employees in the area, and a neighborhood meeting to foster resident interest in the outcomes of the study. Next Steps: • City Council accepts the Park Place Boulevard Study as complete • Incorporate priority improvements into projects taking place in the study area when improvements are appropriate and cost-neutral. • Seek grant funding to complete a demonstration project that will achieve goals of the study. • Continue educating residents and area employees using the study as a guide to opportunities for increased bicycling and walking. BICYCLES AND PEDESTRIANS: Attached for your review is the Bicycles and Pedestrians section of the 2030 Comprehensive Plan update. It summarizes the findings, goals and policies from the Active Living-Sidewalks and Trails Plan, Minnetonka Boulevard Study, and Park Place Boulevard Study. This summary is part of the Transportation Section of the 2030 Comprehensive Plan. Next Steps: • City Council accepts the Active Living-Sidewalks and Trails plan as complete • Staff completes an implementation plan and incorporates the plan into future budget and capital improvement plan discussions FINANCIAL OR BUDGET CONSIDERATION: City Council would make financial and budget decisions later (next steps). Meeting of May 11, 2009 (Item No. 3) Page 3 Subject: Minnetonka Boulevard and Park Place Boulevard Study Updates, and Bicycles and Pedestrians Discussion VISION CONSIDERATION: Recommendations are intended to advance the vision – St. Louis Park is a connected and engaged community with an organized and expanded network of sidewalks and trails. Attachments: Section from draft of 2030 Comp Plan re: Bicycles and Pedestrians Prepared by: Sean Walther, Senior Planner Adam Fulton, Planner Reviewed by: Meg McMonigal, Planning and Zoning Supervisor Kevin Locke, Community Development Director Approved by: Nancy Gohman, Deputy City Manager/HR Director Meeting of May 11, 2009 (Item No. 3) Page 4 Subject: Minnetonka Boulevard and Park Place Boulevard Study Updates, and Bicycles and Pedestrians Discussion C. BICYCLES AND PEDESTRIANS I. Vision for the Bicycle and Pedestrian Systems St. Louis Park is committed to being a connected and engaged community. The community will focus on developing an expanded and organized network of sidewalks and trails. St. Louis Park residents benefit from two significant regional trails, a network of sidewalks that encompass a large portion of the City and city trails within an extensive park system. This system can be improved and in doing so, St. Louis Park will become a more livable community in which its citizens can lead more active, healthy lives. Filling in gaps in the bicycle and pedestrian networks, crossing barriers in the community like railroads and highways, complete street design, improving road crossings, and providing bicycle parking will improve the existing bicycle and pedestrian systems in St. Louis Park. Goals for the Bicycles and Pedestrian System: • Improve bicyclist and pedestrian safety. • Establish a citywide grid-system of sidewalks every ¼-mile. • Establish a citywide grid-system of bicycle facilities every ½-mile. • Close gaps in neighborhoods’ existing sidewalk networks. • Improve citizens’ transportation and recreation choices. • Provide an accessible, convenient, inviting and easily understood system. II. Where we are Today St. Louis Park has 109 miles of sidewalks, 35 miles of trails, and 5 miles of on-street bikeways. The City’s focus is on upgrading, improving, and expanding bicycle and pedestrian networks to meet citizens’ transportation and recreation needs. The City works to improve safety and convenience of walking, biking and transit use, preserve and maintain the existing system, expand the system to close gaps, cross barriers, improve multimodal transportation, and connect to important community destinations. A. Recent Accomplishments The City Council adopted a Sidewalks and Trails Plan in 1999, and has since implemented many of the identified highest priorities. The City built seven miles of new sidewalks, 2½ miles of trails, several new connections to the regional trail for neighborhood access, and numerous intersection crossing safety improvements such as Americans with Disabilities Act (ADA) accessible curb ramps, crosswalk striping, countdown timers and enhanced signage. Most recently, the City built a pedestrian bridge over CSAH 25 that helps link Carpenter Park and the northern side of the city with the Cedar Lake LRT Regional Trail and other destinations to the south. B. Bicycle and Pedestrian Networks The City organizes its pedestrian and sidewalk networks into three categories: regional, citywide, and neighborhood systems. These categories help describe or prescribe the purpose, connections, design, activity, and maintenance level of each system. Meeting of May 11, 2009 (Item No. 3) Page 5 Subject: Minnetonka Boulevard and Park Place Boulevard Study Updates, and Bicycles and Pedestrians Discussion Regional System The City is fortunate to have two regional trails that loop through the City and extend for miles east and west. The Cedar Lake LRT Regional Trail stretches from Hopkins to the Midtown Greenway in Minneapolis. The North Cedar Lake Regional Trail starts at Highway 169 and Excelsior Boulevard (intersecting with the Cedar Lake LRT) and connects to downtown Minneapolis. Both trails link up with the celebrated Minneapolis Grand Rounds Scenic Byway that encircles most of Minneapolis with 50 miles of off-street trails. A possible third future regional trail is being studied by Three Rivers Park District. It would follow the Canadian Pacific (CP) railroad corridor and could stretch from the Minnesota River in Bloomington to Hopkins. The regional trail system is the backbone of the City’s bicycle system. It also provides great recreational walking/jogging routes. The regional system has the highest level of use and is the highest priority for snow removal and other maintenance of the bicycle and pedestrian systems. In addition to regional trails, the City has a few on-road bikeways that are shown on Hennepin County’s bicycle system map. Minnetonka Boulevard from 169 to Highway 100 is the only road that has signs indicating it is a Hennepin County bike route. Citywide System Citywide trails, sidewalks and bikeways make important connections within the City and to neighboring cities’ systems. These facilities tend to locate along major road corridors and connect to key community destinations. The existing and planned system provides pedestrian facilities (sidewalks and/or trails) at roughly ¼-mile intervals, and bicycle facilities at ½-mile intervals. City trails are predominantly within parks and open spaces. A few trails run along streets, but many do not make continuous bicycle connections. Instead, they connect with sidewalks and help form the citywide pedestrian network. The City has a few on-road bikeways shown on Hennepin County’s bicycle system map. Some of these have basic signs to indicate a bicycle route, but most are roads with striped shoulders, or are noted to be used frequently by bicyclists. Examples include Cedar Lake Road, Texas Avenue and Wooddale Avenue. The City clears snow from nearly 48 miles of sidewalks in the citywide pedestrian network. These sidewalks/trails are 5 to 8 feet wide. Immediately adjacent to key destinations the sidewalk width, amenities and level of maintenance may increase. For example, on parts of Excelsior Boulevard, the City collaborated with neighboring commercial property owners to create special services districts that help pay for ongoing maintenance of pedestrian lighting, banners, landscaping, special surface treatments, and snow removal. Meeting of May 11, 2009 (Item No. 3) Page 6 Subject: Minnetonka Boulevard and Park Place Boulevard Study Updates, and Bicycles and Pedestrians Discussion Neighborhood System Neighborhood sidewalks serve predominantly nearby residences. They link to neighborhood parks, schools, shops, transit stops and the citywide pedestrian network. City maintenance is generally limited to fixing trip hazards. Adjacent property owners are required to shovel snow from sidewalks by City ordinance, and the City ensures compliance through random inspections and complaints. Figure 14: Existing Sidewalks and Trails Meeting of May 11, 2009 (Item No. 3) Page 7 Subject: Minnetonka Boulevard and Park Place Boulevard Study Updates, and Bicycles and Pedestrians Discussion III. Planning for the Future St. Louis Park is committed to provide street, sidewalks, trails, and transit networks that are safe and inviting for pedestrians, bicyclists, and transit riders. The City will continue its efforts to maintain bicycle and pedestrian systems that provide transportation and recreation opportunities for its citizens. Changing demographics, shifts in transportation policies, and increased awareness in the natural environment are shaping plans for the future. A. Emerging Trends Important and growing segments of the population do not or cannot drive. Children under 16, people with certain disabilities, elderly adults, and people that cannot afford a vehicle need alternative transportation options to live independent lives. Other people choose to walk, bike or ride transit because it is less expensive, non-polluting, healthy, and a fun activity for them. Walking, biking and transit systems that are safe and accessible can greatly improve the overall quality of life in the community. Nationwide and in Minnesota there are many campaigns that promote walking, biking, and transit use for a variety of reasons. Some focus on accessibility, such as the Americans with Disabilities Act. Some focus on safety, such as Safe Routes to School and Complete Streets programs. Others focus on health and preventing chronic diseases associated with physical inactivity. Still others focus on protecting the natural environment or creating unique and pleasant places. Each of these campaigns presents compelling arguments to improve non-motorized transportation and transit. B. Current Plans, Studies and Partnerships The City has been doing extensive planning for its bicycle and pedestrian systems. The 2006 Vision process showed there is a call to be a connected and engaged community and expand sidewalks and trails. Below is a summary of these plans, studies and partnerships. Active Living Active Living is a way of life that integrates physical activity into daily routines through activities such as biking, walking and/or taking transit to work or school, to do errands, and includes other activities such as playing in the park, walking the dog and gardening. The Center for Disease Control recommends that adults get 30 minutes, and children get 60 minutes, of moderately physical activity per day most days of the week. • Active Living Hennepin Communities Partnership: This partnership includes Blue Cross Blue Shield of Minnesota, Hennepin County, the cities of Bloomington, Brooklyn Park, Excelsior, Golden Valley, Hopkins, Independence and St. Louis Park, and representatives from the health care, development and architecture professions. Its mission is to “Plan, provide and promote active living environments and opportunities for everyone.” City of St. Louis Park is helping this group to develop policies relating to physical infrastructure and programs that support active living based on the principles that: o Physical activity improves health and quality of life in our communities; Meeting of May 11, 2009 (Item No. 3) Page 8 Subject: Minnetonka Boulevard and Park Place Boulevard Study Updates, and Bicycles and Pedestrians Discussion o Places should be designed to provide everyone – regardless of age, gender, language, ethnicity, economic status or ability – with a variety of opportunities for safe, convenient, and affordable physical activity; o Development patterns should encourage mixed uses, compact designs, and a variety of transportation choices that link roads, transit, bicycling and walking; o Buildings and their landscapes should be designed with features that promote opportunities for active living and active transportation, including highly visible stairs, orientation to streets and sidewalks, bicycle facilities, and transit stops at main building entries; and o Transportation systems, including transit and trails, should provide safe, convenient, and affordable access to destinations such as housing, employment, schools, and community services. • Active Living, Sidewalks and Trails Plan: This plan establishes a vision for the City’s future bicycle and pedestrian networks. It highlights the City’s advances over the past ten years, and describes the existing sidewalk, trail, and transit systems. The plan also recognizes the need for additional study of important corridors and more public engagement at the neighborhood level as the City implements the plan. This plan built upon the recommendations of the Vision St. Louis Park Action Teams and the 1999 Sidewalks and Trails Plan. The planning process included a thorough public review and analysis process that included an 8-member citizen advisory committee, a community workshop, a community open house, and input from the Planning Commission and Parks and Recreation Advisory Commission. This plan identified places in the community where bicycle and pedestrian access is most important to its citizens. The process revealed gaps in St. Louis Park’s bicycle and pedestrian networks, and began to prioritize areas where the City should concentrate its efforts. Meeting of May 11, 2009 (Item No. 3) Page 9 Subject: Minnetonka Boulevard and Park Place Boulevard Study Updates, and Bicycles and Pedestrians Discussion Figure 15. Analysis Diagrams Meeting of May 11, 2009 (Item No. 3) Page 10 Subject: Minnetonka Boulevard and Park Place Boulevard Study Updates, and Bicycles and Pedestrians Discussion Figure 16. Pedestrian Plan Meeting of May 11, 2009 (Item No. 3) Page 11 Subject: Minnetonka Boulevard and Park Place Boulevard Study Updates, and Bicycles and Pedestrians Discussion Figure 17: Bicycle Network Plan Meeting of May 11, 2009 (Item No. 3) Page 12 Subject: Minnetonka Boulevard and Park Place Boulevard Study Updates, and Bicycles and Pedestrians Discussion Minnetonka Boulevard Design Plan This is plan is a collaboration between Hennepin County and the cities of Minnetonka, Hopkins and St. Louis Park to conceive a travel corridor that addresses the needs of a variety of commuting, recreational and local travelers. The study focused on from Interstate 494 to State Highway 100, includes a key segment of the road that links two city halls and establishes core design concepts that could be applied farther east and west on the corridor. The Design Plan capitalizes on the corridor’s natural setting, cultural resources and location between major lakes and adjacent regional trails. Citizens provided comments about how the road functions, how it looks, and how local citizens were using it. They also identified which potential improvements they would give the highest (or lowest) priority. The top priorities for improvements were: 1. Pedestrian safety improvements 2. Providing a continuous east-west bike route 3. Creating a multi-modal scenic corridor (“Link to the Lakes”) 4. Additional Tree Planting/Landscaping The Design Plan identifies important functions of the boulevard, develops a set of general principles, and suggests a range of ways to address multiple modes of transportation from commuting to recreation to local shopping. Based on a positive response received at the two public meetings, an overall theme of “Link to the Lakes” was recommended, which ultimately could extend from Lake Minnetonka to the Minneapolis Grand Rounds. In addition, the overall idea of making Minnetonka Boulevard as a “Scenic Corridor” was strongly endorsed. The Design Plan presents recommendations in diagrammatic form for the entire study area and on several prototype plans at key intersections along the corridor. The first of two diagrammatic plans, entitled “Bike and Trail Improvement Opportunities”, describes these four general design principles: 1. Provide for a continuous on-street bike route 2. Enhance pedestrian crossings, especially at primary intersections 3. Create better connections to regional trails 4. Provide additional bike and transit support facilities Figure 18: Minnetonka Boulevard “Link to the Lakes” Meeting of May 11, 2009 (Item No. 3) Page 13 Subject: Minnetonka Boulevard and Park Place Boulevard Study Updates, and Bicycles and Pedestrians Discussion The second diagrammatic plan, entitled “Landscape and Streetscape Opportunities”, describes these five general design principles: 1. Emphasize the natural landscape by framing views and by installing new plantings within the road ROW and on adjacent institutional properties. 2. Use formal arrangements of trees and lighting in commercial areas only. 3. Use landscape as the main unifier along the corridor; allow other features to change between districts to reflect their unique identities. 4. Develop a hierarchy of gateways, at highway interchanges, commercial districts and at pedestrian crossings, to reinforce regional and city identity. 5. Identify opportunities to improve views of Minnehaha Creek by thinning out vegetation and to improve access for recreational users of the Creek and open space areas. Figure 19. Landscape and Streetscape Opportunities Example Minnetonka Boulevard at Texas Avenue Xenia/Park Place Area Plan This plan studied the biking and walking environments within the Xenia Avenue/Park Place Boulevard Corridor, located in St. Louis Park and Golden Valley. It suggests ways to enhance non- motorized connections in this automobile dominated mixed-use area. The goal of this plan is to improve bicycle and pedestrian connections; within the study area, to and from nearby commuting destinations and to the regional trail and walk network. Currently, bicycle and pedestrian traffic movement is constrained by the lack of facilities and uncomfortable conditions for biking and walking. Bicycle and pedestrian movement is limited by heavy traffic, railways, Highways I-394 and TH 100, and by areas without safe travel ways. The study area contains large businesses and regional commercial/retail uses that draw employees and customers from all over the metro area. Meeting of May 11, 2009 (Item No. 3) Page 14 Subject: Minnetonka Boulevard and Park Place Boulevard Study Updates, and Bicycles and Pedestrians Discussion The plan suggests enhancements to bicycle and pedestrian connections across Trunk Highway 100, Interstate 394, and the BNSF and CP railroad corridors, as well as to adjacent neighborhoods, existing regional trails, transit stops, key destinations and employment concentrations. The plan also provides a set of informative guidelines to create and support a functional non-motorized transportation system. The following improvements are recommended by the plan: First priority improvements include: 1. Bikeway striping, signing, and lane marking projects along corridors with wide shoulders 2. Adding a pedestrian and bike bridge over the Burlington Northern Santa Fe Railroad (BNSF) railroad near TH 100 to connect to the Cedar Lake Trail 3. Adding bicycle parking at retail areas and employment centers 4. Sidewalk additions within a Xenia/Park Place area called a “walkability zone” Near-term improvements include: 1. Adding at-grade crossings across the BNSF railroad tracks near Dakota Park 2. Improving the pedestrian/bicycle crossing of I-394 along the Xenia Ave./Park Place Blvd. bridge 3. Adding new off-street trail facilities to encourage connectivity 4. Working with retailers and developers to incorporate pedestrian/bicycle friendly design 5. Encouraging area employers to provide secure bicycle parking for employees Long-term improvements include: 1. Incorporate a regional trail along the Canadian Pacific Railroad, in conjunction with Three Rivers Parks District 2. Construct a new pedestrian/bicycle bridge over I-394 just east of the Xenia Ave./Park Place Blvd. bridge 3. Connection over I-394 on the Xenia Ave./Park Place Blvd. Bridge 4. Connections to the Cedar Lake Regional Trail from the north, crossing the BNSF railroad This study is a step in the realization of a more walkable, more bikeable, more mobile community. Many cities recognize that a healthy community is a vibrant and prosperous community. Providing trail and sidewalk connections allows the option of choosing to bike or walk rather than driving. Meeting of May 11, 2009 (Item No. 3) Page 15 Subject: Minnetonka Boulevard and Park Place Boulevard Study Updates, and Bicycles and Pedestrians Discussion Figure 20: Xenia/Park Place Bike Walk Corridors and Walkability Area Meeting of May 11, 2009 (Item No. 3) Page 16 Subject: Minnetonka Boulevard and Park Place Boulevard Study Updates, and Bicycles and Pedestrians Discussion Figure 21: Street Sections Examples Cedar Lake Road West of Park Place Boulevard (Existing) Cedar Lake Road West of Park Place Boulevard (Future concept) Possibilities for Park Place Boulevard/Xenia Avenue Bridge over I 394 Possibilities for Park Place Boulevard/Xenia Avenue Bridge over I-394 Meeting of May 11, 2009 (Item No. 3) Page 17 Subject: Minnetonka Boulevard and Park Place Boulevard Study Updates, and Bicycles and Pedestrians Discussion Figure 22. Existing and Proposed Trails Meeting of May 11, 2009 (Item No. 3) Page 18 Subject: Minnetonka Boulevard and Park Place Boulevard Study Updates, and Bicycles and Pedestrians Discussion Goals, Policies and Implementation Strategies The City of St. Louis Park is proactively making the community better place to live. Designing and operating a transportation network that assures safety and accessibility for all users, including pedestrians, bicyclists, and transit riders is a key component of that effort. Improving the City’s bicycle and pedestrian systems will provide transportation and recreation choices that are safe, healthy, economical, environmentally friendly, and available to all people. Goal #1 Safety Improve the safety of the bicycle and pedestrian networks. Policy 1-A Systematically review and improve bicycle and pedestrian crossings at major road intersections, highways and railroad tracks. Implementation: • Install countdown timers at all signalized intersections as new signal are installed or existing signals are routinely replaced or upgraded • Consider improvements to lighting, striping or other measures at intersections having repeated crashes involving pedestrians or bicycles. Policy 1-B The City will provide for the needs of pedestrians, bicyclists and transit riders when designing roads and road improvements. Implementation: • Prepare and consider a Complete Streets resolution and policy. (Complete Streets are designed and operated to enable safe access for all users. Pedestrians, bicyclists, motorists and bus riders of all ages and abilities are able to safely move along and across a complete street.) Progress Measures: • Track and periodically review bicycle and pedestrian crashes and severity (Data Sources: MN DOT, St. Louis Park Police Department) Goal #2 City-wide Sidewalk Network Establish a citywide grid-system of sidewalks every ¼-mile (see Figure 16: Pedestrian Plan). Implementation: • Identify funding sources for capital and operational expenses to expand and maintain the city-wide sidewalk network • Build new sidewalks that are part of the city-wide network Meeting of May 11, 2009 (Item No. 3) Page 19 Subject: Minnetonka Boulevard and Park Place Boulevard Study Updates, and Bicycles and Pedestrians Discussion o Focus on segments serving several key destinations or key corridors as prioritized in the Active Living, Sidewalks and Trails Plan Progress Measure: • Miles of new sidewalk Goal #3 City-wide Bicycle Network Establish a citywide grid-system of bikeways every ½-mile (see Figure 17: Bicycle Network Plan). Implementation: • Identify funding sources for capital and operational expenses to expand and maintain the city-wide bicycle network • Build off-road trails and on-street bikeways that are part of the city-wide bicycle network as prioritized in the Active Living, Sidewalks and Trails Plan o Provide new north-south bikeways connecting to the regional trail system o Improve existing east-west commuter bicycle routes (Cedar Lake Road, Minnetonka Boulevard, Regional Trails) o Focus on corridors that connect several key destinations as prioritized in the Active Living, Sidewalks and Trails Plan • Work with other jurisdictions to study the feasibility and alignment of a potential regional trail from Bloomington to Hopkins along the CP Rail line Progress Measures: • Miles of new off-road trails • Miles of new on-road bikeways Goal #4 Neighborhood Sidewalk Network Close gaps in neighborhoods sidewalk network. Implementation: • Identify funding source to construct up to ½-mile of sidewalk per year to close gaps in the neighborhood sidewalk network • Build sidewalk segments that are missing within a block, or on a block that is between blocks with sidewalks o Consider incentives for property owners that petition the City for sidewalk construction that close gaps in neighborhood sidewalk network (i.e. fund installation) • Require sidewalks (or off-road trails or on-street bikeways where planned and appropriate) on all new subdivisions, new streets, and road reconstruction projects Meeting of May 11, 2009 (Item No. 3) Page 20 Subject: Minnetonka Boulevard and Park Place Boulevard Study Updates, and Bicycles and Pedestrians Discussion Progress Measures: • Miles of new sidewalks • Number of gaps closed Goal #5 Choices Improve transportation and recreation choices Implementation: • Provide on-road bikeways that connect to regional trails, transit, and employment centers • Improve walking and biking connections to schools and parks • Develop park trails along Minnehaha Creek, where appropriate. Progress Measures: • Commuter travel mode; share of trips made by walking, biking and transit (data source: Census, American Community Survey, Metropolitan Council) • Number of kids that walk and bike to school (data source: schools/SLP Transportation?) • Percent of people getting at least 30 minutes of exercise per day (data source: Hennepin County SHAPE survey) Goal #6 Provide accessible, convenient, attractive and easily understood bicycle and pedestrian systems Implementation: • Continue the City’s annual condition analysis and maintenance activities • Improve way finding for users o Maps o Coordinated Signs (work with Three Rivers Park District, Hennepin County) • Work with St. Louis Park School District or individual schools to identify and promote preferred walk and bike routes to students and parents • Provide bicycle parking with all new commercial, multiple family residential and public facility developments and additions. • Prepare new sidewalk performance standards that address the entire sidewalk corridor from street to building. Progress Measures: • Number of bicycle parking spaces added • Maps distributed (printed/website visits) • Transit ridership (increase/decrease) Meeting Date: May 11, 2009 Agenda Item #: 4 Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance Presentation Other: EDA Meeting Action Item Resolution Other: Study Session Discussion Item Written Report Other: TITLE: Comprehensive Plan – Land Use. RECOMMENDED ACTION: Discuss land use changes and directions for the Comprehensive Plan Update. POLICY CONSIDERATION: Are the proposed directions on land use acceptable to the Council? BACKGROUND: Land Use Changes The following are the highlights of changes to the Comprehensive Plan land use section: (1) Creating a new category of Business Park that designates areas for light industrial and/or office uses. These areas would be in our more visible industrial areas and be required to have a higher quality finish to the site and building. (2) Change some land use designations on property – including several areas to the new BP category, some changes in the 36th Street area in accordance with the Elmwood Plan, and changes around Southwest LRT sites. (3) Combining “Civic Mixed Use” with “Commercial Mixed Use” for a category that simply called “Mixed Use.” There are currently only two sites designated “Civic Mixed Use” and this would simplify the map. We would retain the “Civic” category as well. (4) Discussion of additional areas for study, including addressing commercial nodes and strips; looking at new environmentally-friendly provisions for such items as wind generators; updating the PUD provisions to better accomplish redevelopment. Attached are the Existing Comprehensive Plan Land Use Map and the proposed Future Land Use Map showing areas of proposed changes. Planning staff is planning a meeting of the property owners of these properties to discuss the proposed changes and obtain more information on the properties. Future Directions for Land Use The following are the highlights for the future of land use planning in the city: A. Neighborhood Commercial Corridors and Nodes Within the community are a significant number of small neighborhood commercial corridors and nodes. These essential, highly visible, and continuously changing neighborhood commercial centers are integral to creating a livable community. The 2030 land use plan continues to guide neighborhood commercial corridors and nodes for commercial land uses. However, the plan also Meeting of May 11, 2009 (Item No. 4) Page 2 Subject: Comprehensive Plan – Land Use recommends that all existing commercial corridors and nodes be studied to review their existing challenges, market viability, and revitalization opportunities. In general, reinvestment or redevelopment in neighborhood commercial centers is challenged by inadequate space for business expansions, parking, and stormwater management. Neighborhood commercial corridors and nodes may offer attractive opportunities for adding new housing options, such as residential in mixed-use buildings. These neighborhood centers also can have significant potential for enhancing neighborhoods as important public gathering places, transportation nodes, and significantly contributing to a neighborhood’s sense of identity. B. LRT Station Areas The proposed light rail line, Southwest Transitway, would be located in the Hennepin County Regional Railroad Authority’s (HCRRA) right-of-way corridor that is located south of and largely parallel to Highway 7 as it travels through St. Louis Park. Three station areas are proposed for the city: Beltline, Wooddale, and Louisiana. Although the final route of the transitway has not been finalized in Minneapolis and Eden Prairie, the St. Louis Park stations are set. The HCRRA began a station area planning study, working with a planning consultant, for all of the station areas outside of Minneapolis in mid-2008 and anticipates completion of the study in mid- 2009. The study is reviewing existing conditions and developing concept plan alternatives for the areas within a ¼ and a ½ mile of each station. The objective is to integrate the principles of health, safety, sustainability, and quality of life into a cohesive future plan for each station area, including desired land uses. These concept plans will consider the following elements: • Sidewalk and street locations • Transit station approaches and exits • Public open space, green space, streetscape, and public realm • Building types, density, massing, and locations • Land use patterns • Opportunities for integrated sustainability/LEED-ND • Pedestrian and bicycle paths and trails • Landmarks Currently, the Beltline Station Area is primarily an industrial area with a high-density residential area in the southeast quadrant. In the future, the area south of the transit line is envisioned as primarily an employment center in the southwest quadrant and a primarily residential area in the southeast quadrant. As a transit-oriented employment center, the southwest quadrant offers the most potential for redevelopment. Similar to the Wooddale Station Area, the area north of the transit line is more challenging due to the close proximity of Highway 7. Nonetheless, this current industrial area offers some redevelopment potential and is guided for primarily business park and industrial uses as part of the overall Wooddale employment center. The Wooddale Station Area is envisioned as a transit-oriented development (TOD) neighborhood, particularly south of the future transit line, and is guided for primarily mixed-use, medium- & high- density residential, and office land uses. The southeast quadrant has the most potential for land use change and transit-oriented development, much of which is already well underway with Meeting of May 11, 2009 (Item No. 4) Page 3 Subject: Comprehensive Plan – Land Use redevelopment of the Village in the Park area (formerly Quadion) and Hoigaard Village (formerly Hoigaard’s store). The northern portion is more challenging for good transit access and redevelopment opportunities due to the close proximity of Highway 7, including a future interchange, and land uses are guided toward a mix of office, industrial, and business park. The Louisiana Station Area is also envisioned for development intensification as an employment center that capitalizes on its convenient transit access. Building upon its current mix of industrial, medical, and commercial land uses, this area is guided for a broader mix of land uses, particularly the development of business park uses with higher jobs per acre nearest to the transit station. The Station Area Plans will be incorporated into the city’s land use plan. C. Industrial and Business Park Areas As the City’s existing industrial areas face significant economic and technological changes and potential redevelopment opportunities, the City is considering how to manage its decreasing inventory of industrial land wisely. The 2030 land use plan guides land for industrial uses in six (6) strategic industrial areas: • Oxford/Louisiana Industrial Park • Gorham/Walker Industrial Park • Beltline Industrial Park • Novartis/Westside Volkswagon area • Edgewood Industrial Park • Smith Industrial Park Three (3) of these existing industrial areas are proposed for further study for redevelopment - Gorham/Walker, Oxford/Louisiana, and Beltline – as they offer potential redevelopment opportunities that are broader than just industrial uses. Both the Oxford/Louisiana and Beltline industrial parks are located within Southwest Transitway station areas, which are intended to continue as employment centers that leverage the benefits of transit access in the long-term. The Walker-Lake area is also identified as a redevelopment study area to address non-conforming uses, outdated development types, and transportation issues. The City’s industrial areas contain a substantial number of buildings that are older and obsolete compared to contemporary industrial standards. The current industrial market demands more efficient building types that provide ample parking, high clear heights for maximum stacking of product inventory, deep truck courts for semi-trailer loading, and aesthetically pleasing building exteriors and sites. As these industrial areas are considered for redevelopment, a new category, “Business Park” is proposed. This category is intended to allow a broader range of uses, including office, office-showroom-warehousing, research and development services, light and high-tech electronic manufacturing and assembly, and medical laboratories. The 2030 land use plan guides substantial areas in the Oxford/Louisiana and Beltline industrial parks for Business Park uses while also retaining a portion of these areas for industrial uses. Meeting of May 11, 2009 (Item No. 4) Page 4 Subject: Comprehensive Plan – Land Use D. Town Center - Park Commons Over the past decade, a majority of the redevelopment of the Park Commons area has occurred to create St. Louis Park’s “town center”. This redevelopment was guided by the Park Commons Concept Plan and the subsequent Park Commons East Redevelopment Concept Plan, as well as the Comprehensive Land Use Plan. Park Commons has been redeveloped with a broad mix of uses, higher densities, and urban design features that create the community’s “town center.” Mixed-use development is faces Excelsior Boulevard as well as the Town Green, which is on Grand Way and connects Excelsior Boulevard to Wolfe Park. High-density residential is located within the “town center”, both above and adjacent to commercial uses. Future redevelopment of the Park Commons area should focus on adding complementary land uses that support and complete the “town center” concept and completing the internal network of streets and pathways that create a cohesive and connected downtown neighborhood. Future redevelopment and infill development should fill in the Excelsior Boulevard “gap” between the Excelsior & Grand storefronts to the east and the Park Village commercial businesses to the west. The 2030 land use plan guides mixed-use redevelopment to be extended to the west one block with office uses continuing in the Park Nicollet Clinic area. Redevelopment or infill development with buildings located close to Excelsior Boulevard is preferred. Additional high-density housing is guided for any redevelopment that may occur around Wolfe Park. Improving connections between the residential and mixed-use areas of Excelsior & Grand and the commercial areas to the west should be accommodated as part of redevelopment planning for the interior of Park Commons. E. Neighborhoods The City’s 35 individual neighborhoods are the backbone of the community. Although each neighborhood has a unique history, development pattern, character, challenges, and opportunities, all neighborhoods should ideally provide a healthy living environment with convenient access to essential community services, including transportation options, jobs, parks and open space, shopping, services, entertainment, and other urban amenities. The 2030 land use plan is intended to guide land use patterns and development types that support healthy and accessible neighborhoods in St. Louis Park. As redevelopment opportunities emerge and plans are created, the City will promote land uses that support and enhance neighborhoods. Commercial corridors and nodes will be planned to accommodate neighborhood retail and services as well as pedestrian-oriented design to support walkable access from neighborhoods. New housing types are encouraged in appropriate areas, including mixed-use buildings and move-up housing, to enable residents to have options to remain in or near their neighborhood as their lifestyle and housing needs change. Public facilities and gathering spaces will be provided in redevelopment plans as strategic and accessible places for neighborhood residents to use. Redevelopment will accommodate needs for sidewalks and trails where appropriate. FINANCIAL OR BUDGET CONSIDERATION: This process has been planned and budgeted for through the Development Fund. Meeting of May 11, 2009 (Item No. 4) Page 5 Subject: Comprehensive Plan – Land Use VISION CONSIDERATION: The Vision process undertaken in 2006 provides the basis for the direction of our Comprehensive Plan. All of the Vision elements will be incorporated throughout the plan. In this way, we build each Vision element into our goals, policies and action plans to be implemented on a daily and weekly basis. Attachments: Existing Comprehensive Plan Land Use Map Proposed Future Comprehensive Plan Land Use Map Prepared by: Meg J. McMonigal, Planning and Zoning Supervisor Reviewed by: Kevin Locke, Community Development Director Approved by: Nancy Gohman, Deputy City Manager/HR Director Meeting of May 11, 2009 (Item No. 4) Page 6 Subject: Comprehensive Plan – Land Use Meeting of May 11, 2009 (Item No. 4) Page 7 Subject: Comprehensive Plan – Land Use Meeting Date: May 11, 2009 Agenda Item #: 5 Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance Presentation Other: EDA Meeting Action Item Resolution Other: Study Session Discussion Item Written Report Other: TITLE: Communications (Verbal). RECOMMENDED ACTION: Not Applicable. POLICY CONSIDERATION: Not Applicable. BACKGROUND: At every Study Session, verbal communications will take place between staff and Council for the purpose of information sharing. FINANCIAL OR BUDGET CONSIDERATION: Not Applicable. VISION CONSIDERATION: Not Applicable. Attachments: None Prepared and Approved by: Tom Harmening, City Manager Meeting Date: May 11, 2009 Agenda Item #: 6 Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance Presentation Other: EDA Meeting Action Item Resolution Other: Study Session Discussion Item Written Report Other: TITLE: Project Update - W. 36th Street Streetscape - Project 2008-2600. RECOMMENDED ACTION: The purpose of this report is to update the Council on the project status, anticipated actions and proposed schedule. POLICY CONSIDERATION: Is the City Council comfortable with the direction and schedule for the proposed improvements? BACKGROUND: Over the past few years, a portion of the Elmwood Neighborhood, more closely defined as the area surrounding W. 36th Street and the intersection of W. 36th and Wooddale, has received a significant amount of activity and attention. Recent redevelopment activities such as Hoigaard Village and Village in the Park (Rottlund Homes) have helped to bring an added awareness of traffic issues in this area. The upcoming reconstruction of the Highway 7/Wooddale intersection, the construction of an LRT station at Wooddale, and other potential redevelopment activities in the immediate and greater area also bring an extra sense of urgency to assure that the future roadway and transportation infrastructure in this area will function adequately. As a result, the City engaged in several planning, transportation, and traffic related studies with the assistance of SRF consulting engineers. The Council was previously provided an update with regards to these efforts on March 24, 2008. As part of the longer term improvements for the W. 36th Street and Wooddale area, more immediate streetscape improvements have been programmed for construction this year. In conjunction with the Hoigaard Village Development, the City of St. Louis Park was awarded a Livable Communities Development Account Grant by the Metropolitan Council. The grant of $1,500,000 was awarded to pay for several aspects related to the redevelopment of W. 36th Street (Highway 100 to Wooddale Avenue) in the Elmwood Neighborhood. The grant essentially provides funding for the following: 1. A regional stormwater pond (now completed) within the Hoigaard Village redevelopment that serves a portion of the greater Elmwood Neighborhood. 2. Demolition of sidewalk and other structures in the right-of-way in preparation for pedestrian amenities on W. 36th Street. 3. Construction of new sidewalks, street lighting, benches, bike racks, and other streetscape amenities along W. 36th Street. Meeting of May 11, 2009 (Item No. 6) Page 2 Subject: Project Update - W. 36th Street Streetscape - Project 2008-2600 Some of these improvements have already been constructed as part of the Hoigaard Village redevelopment project. Other proposed improvements on the remainder of W. 36th Street, including curb bump-outs for on street parking and plantings are not eligible under the grant. NEXT STEPS: Based on past discussions and direction, SRF has completed the streetscape design in a manner that will provide for minimal or basic streetscape improvements that can best work with present and future needs, particularly after the Highway 7/Wooddale project is completed and future traffic patterns are better known. The streetscape design also includes the installation of a traffic signal at W. 36th Street and Xenwood Avenue as programmed in the Capital Improvement Program. At this time, there is no need to construct the signal with the streetscape improvements as the signal is not yet warranted. However, design of the signal system itself has been substantially completed, and can be constructed at an appropriate future time. An uncompleted matter is the establishment of a Special Service District (SSD) for the long term maintenance of these proposed improvements. In order to establish the SSD, a petition process by the adjacent property owners and a subsequent public hearing must be conducted and approved. This is essentially the same process that has been followed for establishing similar SSD’s on Excelsior Boulevard and Park Place Boulevard. To date, this process has been slow due to the mixed support of property owners and further complications brought by changes in ownership of one of the larger parcels. However, the Community Development Department has been working closely with property owners over the past year to move this matter forward, and a Public Hearing for the SSD has now been scheduled for June 1, 2009. The Livable Communities grant does expire at the end of this year. Therefore, therefore a project must be let this year if the remaining funds are to be utilized. Because the plans are complete and ready to be bid, the following schedule is recommended: May 11, 2009 Status Report to City Council June 1, 2009 Public Hearing – Special Service District June 15, 2009 City Council Approve Plans and Specifications and Authorize Advertisement for Bids Special Service District 2nd Reading July 14, 2009 Open Bids July 20, 2009 Award Contract August 1, 2009 Commence Construction October 15, 2009 Complete Construction In order for a project to proceed and be completed this year, this schedule must be followed as closely as possible. In the event property owners and the City decide not to establish a Special Service District, the process can be halted at anytime prior to awarding a contract (July 20). Meeting of May 11, 2009 (Item No. 6) Page 3 Subject: Project Update - W. 36th Street Streetscape - Project 2008-2600 FINANCIAL OR BUDGET CONSIDERATION: The Capital Improvement Program provides for a total project cost of $1.5 million dollars with funding from a combination of the Livable Communities Grant and Elmwood District Tax Increment Financing. With the most recent construction estimates provided by SRF, along with anticipated engineering and administrative costs, we expect the total project cost to remain within that amount. Professional services at this time are being funded from HRA Levy Funds. More details regarding the project cost and funding will be provided when plans are presented to the City Council for approval on June 15. VISION CONSIDERATION: The proposed project will consider the following facets of Vision St. Louis Park: 1. Arts and Culture: The project will consider and include a public art element through the project development and public process. This will contribute to several Vision goals related to Arts and Culture. 2. Environment: The project will consider the Vision goal of expanding and enhancing green spaces and parks by incorporating design standards that increase green medians on roadways and tree planting initiatives. 3. Sidewalks and Trails: The project will contribute to the Vision goal of creating a safe and efficient bicycle and pedestrian grid. 4. Transportation: The project will incorporate many of the transportation related Vision goals, including inter-connect of “urban villages”, consideration of transit needs and connections, road safety, and enhancing aesthetics of key corridors. Attachments: None Prepared By: Scott Brink, City Engineer Reviewed By: Michael P. Rardin, Director of Public Works Kevin Locke, Director of Community Development Sean Walther, Senior Planner Approved By: Nancy Gohman, Deputy City Manager/HR Director Meeting Date: May 11, 2009 Agenda Item #: 7 Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance Presentation Other: EDA Meeting Action Item Resolution Other: Study Session Discussion Item Written Report Other: TITLE: Quarterly Investment Report (January-March, 2009). RECOMMENDED ACTION: No action required at this time. This is a written report for information sharing purposes. POLICY CONSIDERATION: None. BACKGROUND: Our portfolio has become focused on short term cash flow needs, with only a few longer term securities locked in to try to maximize interest income potential in the recent precipitous fall in interest rates. We have seen a large part of our portfolio turn over as calls have come in on many of our securities. It is always necessary to have a reasonable amount of cash available to cover the normal cash flow needs for payroll and general expenses, in addition to large payments for debt service that is due February 1 each year. As of March 31, the balance in the city’s money market funds is higher than normal due to the many bond calls and unspent bond issue proceeds. Since commercial paper is no longer considered as secure as it once was, we have very few options to lock in short-term investments for cash flow purposes. Over the past three months, we have rebalanced our maturities out a little longer. This should increase yield as any economic recovery seems to have stagnated despite the stimulus packages that have been approved. Investment totals by type are: 12/31/08 03/31/09 <1 Year 45% 31% 1-2 Years 4% 3% 2-3 Years 9% 20% >3 Years 42% 46% Commercial Paper None Agency Bonds/CD’s $47,941,509 Money Market $17,955,776 Meeting of May 11, 2009 (Item No. 7) Page 2 Subject: Quarterly Investment Report (January - March, 2009) Longer term investments are being purchased whenever reasonable interest rates can be obtained. The definition of reasonable has dropped considerably since last year. Treasury bond yields remain mere basis points away from their historical lows of last month as shown on the following graph. Two-year notes are trading around 0.76%, while the ten-year bill is yielding 2.43%. Our current portfolio yield is roughly 2.7%. Cities generally use a short horizon benchmark such as the two year Treasury (0.81% at 3/31 up from 0.76% at 12/31) or some similar measure. This is calculated by taking the yield times the current value for each investment and dividing the resulting amount by the total portfolio value. While our primary money market investment, the 4M Fund, has dropped to an average yield of .50%, longer term investments that have been purchased raise the total portfolio yield. Most of our recent purchases are callable agency bonds. They typically have reasonable interest rates for the final maturity date which is in three to five years, but are callable in three months to a year. This effectively reduces the average life of our investments, since we expect most of these securities to be called. We need to be careful though – if inflation and interest rates jump up dramatically, we will be stuck holding these bonds at low interest rates. Staff intends to carefully review our options in order to keep sufficient liquidity to lock in higher rates once the economy begins to expand again. FINANCIAL OR BUDGET CONSIDERATION: None at this time. VISION CONSIDERATION: Not Applicable. Attachments: Quarterly Investment Report Prepared by: Bruce DeJong, Finance Director Approved by: Nancy Gohman, Deputy City Manager/HR Director City of St. Louis Park Investments March 31, 2009 Institution Main Type Maturity Yield Basis Adjusted Market Value 12/31/08 Value at 3/31/2009 Annual Yield 4M MM 0.50%24,099,804 10,596,887 52,984 Citigroup/Smith Barney FFCB 08/25/2009 4.75% 745,313 745,097 762,892 35,402 Citigroup/Smith Barney FHLBC 12/29/2010 2.00% 750,000 747,252 753,750 15,000 Citigroup/Smith Barney FNMA 7/6/2011 2.00% 2,000,167 1,987,500 40,003 Citigroup/Smith Barney FHLB 10/26/2011 5.25% 1,000,310 1,003,257 1,022,500 52,516 Citigroup/Smith Barney FHLB 11/21/2011 5.10% 993,130 1,006,271 1,005,310 50,650 Citigroup/Smith Barney FHLB 01/04/2012 5.00% 1,000,000 987,116 1,027,500 50,000 Citigroup/Smith Barney FHLMC 2/13/2012 1.50% 1,000,000 999,460 15,000 Citigroup/Smith Barney FNMA 3/23/2012 1.50% 1,000,000 1,001,250 15,000 Citigroup/Smith Barney FHLBC 4/9/2012 3.00% 1,000,000 100,000 30,000 Citigroup/Smith Barney FHLBC 6/18/2012 4.15% 672,819 668,763 669,156 27,922 Citigroup/Smith Barney FHLMC 8/24/2012 3.00% 1,000,000 1,000,842 1,003,240 30,000 Citigroup/Smith Barney FHLBC 5/14/2013 4.15% 1,000,000 1,001,792 1,003,440 41,500 Citigroup/Smith Barney FHLB 05/20/2013 4.00% 1,000,000 1,001,897 1,021,820 40,000 Citigroup/Smith Barney FHLBC 6/11/2013 4.38% 998,750 1,005,858 106,560 43,745 Citigroup/Smith Barney FHLMC 7/2/2013 5.00% 1,000,000 986,432 1,009,960 50,000 Citigroup/Smith Barney FNMA 2/26/2014 2.00% 1,000,000 1,003,750 20,000 Citigroup/Smith Barney FHLMC 3/10/2014 2.25% 1,000,000 1,002,420 22,500 Citigroup/Smith Barney GNMA 7.19%59,175 57,425 4,129 Citigroup/Smith Barney MM 0.67%3,144,943 195,434 1,309 15,733,367 Prudential/Wachovia CD 12/24/2009 2.25% 250,000 249,314 251,215 5,625 Prudential/Wachovia CD 12/30/2009 2.20% 250,000 249,345 250,187 5,500 Prudential/Wachovia CD 7/16/2010 4.20% 96,000 94,798 98,393 4,032 Prudential/Wachovia CD 7/16/2010 4.20% 96,000 94,798 98,393 4,032 Prudential/Wachovia CD 7/16/2010 4.20% 96,000 94,798 98,393 4,032 Prudential/Wachovia CD 7/19/2010 4.25% 96,000 94,799 98,465 4,080 Prudential/Wachovia CD 7/19/2010 4.25% 96,000 94,799 98,465 4,080 Prudential/Wachovia FHLMC 1/27/2012 2.00% 2,000,000 1,999,500 40,000 Prudential/Wachovia Fannie Mae 6/3/2013 4.13% 1,624,028 1,631,252 1,637,694 66,991 Prudential/Wachovia FHLMC 6/10/2013 4.00% 1,000,000 1,004,089 1,008,055 40,000 Prudential/Wachovia Freddie Mac 12/15/2013 3.00% 1,000,000 1,000,103 992,460 30,000 Prudential/Wachovia FNMA 1/22/2014 2.00% 1,000,000 988,750 20,000 Prudential/Wachovia Cash 44.92 7,620,016 UBS/Paine Webber Cashfund 0.31%5,747,091 6,783,384 21,028 Sterne, Agee & Leach Inc FHLB 02/12/2010 5.00% 1,067,800 992,459 1,054,820 53,390 Sterne, Agee FFCB 1/20/2011 1.62% 1,000,000 1,000,290 16,200 Sterne, Agee & Leach Inc FNMA 6/22/2011 5.50% 1,943,503 1,943,987 1,938,969 106,893 Sterne, Agee & Leach Inc FHLMC 9/30/2011 2.25% 1,000,000 997,627 948,430 22,500 Sterne, Agee & Leach Inc FHLB 12/9/2011 2.63% 1,026,113 997,632 1,043,720 26,987 Sterne, Agee & Leach Inc FHLB 7/23/2012 4.15% 1,055,968 988,830 1,053,310 43,812 Sterne, Agee & Leach Inc FHLB 8/27/2012 5.05% 1,000,000 994,179 1,053,040 50,500 Sterne, Agee & Leach Inc FHLB 08/27/2012 2.81% 1,063,803 990,767 1,050,470 29,850 Sterne, Agee & Leach Inc FNMA 10/22/2012 4.48% 1,031,768 1,005,095 1,023,500 46,254 Sterne, Agee & Leach Inc FHLB 10/29/2012 4.03% 1,030,220 999,567 1,054,530 41,466 Sterne, Agee & Leach Inc FNMA 01/04/2013 2.77% 1,041,216 986,842 1,023,040 28,883 Sterne, Agee & Leach Inc FNMA 1/18/2013 3.85% 1,004,210 988,135 1,043,020 38,662 Sterne, Agee & Leach Inc FHLB 2/25/2013 3.65% 523,010 520,774 542,152 19,064 Sterne, Agee & Leach Inc FNMA 2/26/2013 3.05% 1,022,043 991,053 1,025,580 31,162 Sterne, Agee & Leach Inc FNMA 03/18/2013 3.96% 1,000,000 994,908 1,045,670 39,600 Sterne, Agee & Leach Inc 4/29/2013 3.60% 815,084 793,559 831,101 29,319 Sterne, Agee & Leach Inc FHLMC 5/6/2013 4.00% 999,663 1,001,368 1,010,510 39,987 Sterne, Agee & Leach Inc FNMA 5/28/2013 4.05% 999,000 1,002,755 1,067,910 40,460 Sterne, Agee Overseas Inv Corp 12/15/2013 4.11% 2,084,125 2,000,000 85,658 Sterne, Agee FFCB 12/27/2013 2.20% 974,412 962,073 21,398 Sterne, Agee FNMA 1/30/2014 2.00% 1,000,000 999,330 20,000 Sterne, Agee FHLMC 2/11/2014 2.00% 999,500 998,390 19,990 Sterne, Agee Cash Trust MM 124,248 380,026 24,149,881 Wells Fargo FHLB 07/20/2012 5.70% 1,000,000 989,389 1,013,750 57,000 GRAND TOTAL 65,897,285 1,796,096 Portfolio Yield 2.73% Meeting of May 11, 2009 (Item No. 7) Subject: Quarterly Investment Report (January - March, 2009)Page 3