CRAAB-PCT20260625

Community Redevelopment Advisory Board Regular Meeting · 2026-06-25 · agenda_packet

[401 S. Park Avenue] The Community Redevelopment Advisory Board (CRAAB) meeting agenda for June 25, 2026, includes action items such as the election of a Chair and Vice Chair, and non-action items like Capital Project Worksheet Integration and Budget Preview. The meeting will also feature staff updates on ongoing projects. The May 28, 2026, meeting minutes are also to be approved. A previous discussion on the West Fairbanks Catalyst Development (CDP) & Septic to Sewer Programs (STSP) was noted. The Community Redevelopment Advisory Board (CRAAB) is reviewing the Capital Project Worksheet Integration and Budget Preview for the fiscal year 2026-2027. The CRA anticipates projected revenues of slightly over $10.6 million, with an estimated 8.14% increase in increment revenue. Major proposed capital expenditures include Park Avenue Refresh Phase II ($3,500,000), Canton Ave Stormwater Drainage ($2,450,000), West Fairbanks Stormwater/Infrastructure ($1,000,000), and 1792/Fairbanks Intersection Improvements ($1,000,000). The CRA will be debt-free starting this fiscal year, redirecting funds towards projects. The document also details various community initiatives and infrastructure improvement projects planned over the next ten years. [255 South Denning Dr. (MLK Park)] Staff provided updates on several projects. The Denning/Fairbanks Lake Rose Improvements are in the conceptual vision stage, with next steps including schematic design and cost estimation. The MLK Park Community Playground is closed for renovations, with the restroom portion under permit review. Phase I of the CRA MLK Stormwater / W. Fairbanks Stormwater Improvements is complete, and Phase II is in design with construction anticipated by year-end 2026. An extension of the Mt. Moriah Parking Lot Agreement is pending budget approval, which would lock in rates through 2037 with requested contributions for property improvements. Staff has also developed informational videos and is researching best practices for misc. enhancement funds, including street lighting installation expected in Q4 2026 and ongoing review of a Hannibal Square Community Feature.