Special Board of Aldermen 12-07-2021 Page 28
So Water Street reconfiguration. Again goes part and parcel with doing this Parc de la Renaissance Project. We
would be looking to introduce one way flow along Main Street here. We would not lose any parking down here, which
currently is where it exists. We would actually be looking to add it in on street. What does happen is Water Street
would no longer be two way, it would only be one way from Main Street to Factory Street. Then when you get to
Factory Street, you could make a left or a right. We're also talking about an addition of parking on to Factory Street
right here with parking that actually we tested this summer to see how it would do. Then ultimately if you wanted to go
north on Main Street, we would be looking to go left and you'd be able to go left down Factory Street and on to Main
Street. Now what folks may be asking themselves is without being able to make a left here and a left here is that
going to cause any type of impact? So | will tell you right now, you will be losing the ability to make a left out here
onto Main Street, but you'd be pushing it all onto Factory Street. We believe it can be accommodated but without
question, there will be some folks who won't like the queuing that will occur. We don't believe it will queue past here
and it would be actually a more efficient use of the space. But nonetheless, there is that convenience right now
having this be two way. | fully recognize that but we're not going to be able to accommodate everything. If we've
been designing this under the direction that folks going to keep the parking and that's exactly what we're doing. If we
were to remove this parking, you would be able to have that two way flow. But that's not the recommendation at this
time.
So here's just another look at what Parc de la Renaissance looks like at an aerial view of how it would be transformed.
Here's a closer look at the dock. So how the dock would work if you would be coming in off of the new boardwalk
here and there'd be basically a switchback right here. It'd be a landing on terra firma here. Some sort of land plank
out, and then the dock down, and the idea would be for it to be accessible for kayaks and what not.
So here's the improvements that we're talking about. What we refer to as the Factory Street improvements. This is
behind Clock Tower. Here’s the existing condition that's out here. What we'd be looking to do is add in some curving
on either side. We'd be adding in some bollards. We'd be screening. We'd be basically trying to make this more of a
pedestrian realm. We'll be adding lighting. So trying to create a more comfortable type of environment so people will
use this. And again, the idea would be to connect people walking from Mine Falls to the downtown through this type
of multimodal accommodation.
Here's a view of what the boardwalk would look like off of Riverside BBQ. Again, mirroring very similar to what was
done outside Peddlers Daughter and then continuing on and connecting up on to terra firma and the existing path
that's out there right now. So that's essentially what this project would be and then what I'm about to talk to you guys
about is what | would like to endeavor us to continue on doing when we have a better sense of the budget and to stay
within the budget of the $21 million, which first and foremost we would be just to orientate people here. Here's the
Jackson Falls Condominiums. Here's the Peddler’s Daughter. We would be starting right in about here with a new
path and in and around BAE where people would be able to walk. Then here is the new pedestrian bridge that we
were talking about adding in. We would essentially be looking to decommission. Now, this is not owned by the city.
The city has a lease on this. This is owned by Pan-AM. Pan-AM would still use it for its freight rail but we would just
be discouraging any type of walking across this bridge and we would be encouraging people to use this bridge
creating a better experience along here by paving it. There is an existing path right now. But it's rather basic or non-
paved. | will need to be enhanced. Then we'd be looking to make another improvement here by widening the ramp,
connecting it up because there's a big grade change. Here’s the dam. So if you recall, so here is the grade change
here to here. And then we would do another boardwalk around 60 Main Street, which is the Telegraph building. So
here's the widening of the ADA ramp that we were talking about that's currently narrow. Here's what would be the
new path that we'd be looking to create by BAE. That, again, would connect give full connectivity. So the new
pedestrian bridge concepts that we'd be looking to implement — here’s just a kind of give you an idea of what we
would be doing. And here's what it would look like actually installed.
So that's basically the project at hand that we've been working on over the last couple of years and bringing to design.
We are concluding preliminary design now. We'd be rolling into final design just after the New Year trying to get under
construction for the summer of 22. So relative to the debt schedule, and TIF revenue, and Treasurer Fredette is here
and he can go through the model in more detail but essentially we will need to generate just over a million dollars to
cover the level principal and level interest on a 30 year bond. Just want to note everything that we're doing here has a
life expectancy of 50 plus years. We're talking about boardwalks, and major infrastructure, and then we would have
an interest rate model at 2.75%. | have often told Treasurer Fredette that | think that that's extremely conservative,
but | understand why we're doing that. And then the TIF dollars generated. So to date we have about a million dollars
in the account. We've modeled that we will have a growth of conservatively 2.5 year over year. We'll end with $2.2
million and this leaves us enough room to also maintain and have maintenance done year over year for this area. So
| don't know folks have noticed over the last couple of years, but we've actually made a concerted effort of
landscaping, and removing trees, doing a lot of vegetation removal, getting rid of invasive species, really trying to
