Item - 2016.EX20.21

The Executive Committee recommends that:

1.  City Council amend the 2016 Council Approved Capital Budget for Economic Development and Culture by reducing the 2016 Business Improvement Area Equal Share Funding Project (CED084) project cost and cash flow by $0.200 million from $4.217 million gross ($2.281 million net) to $4.017 million gross ($2.181 million net).

2.  City Council amend the 2016 Council Approved Capital Budget for Economic Development and Culture by adding a new capital project, PATH Wayfinding Project, with cash flow of $0.100 million gross, funded by debt transferred from the 2016 Equal Share Funding Project in 2016, to provide to the Financial District Business Improvement Area 50 percent of the cost to develop technical designs for new signage and mapping in the PATH underground walkway system such that the total City contribution does not exceed $0.100 million.

On June 22, 2016 the Financial District Business Improvement Area presented concepts and a work plan for PATH wayfinding signage improvements to the Economic Development Committee.  The Committee requested the General Manager, Economic Development and Culture to report back on the matter to its October 24, 2016 meeting.

This report recommends that funding from the 2016 Capital Budget for Economic Development and Culture be reallocated to the Financial District Business Improvement Area to share the cost of the technical design phase of the PATH wayfinding project.