Pearson Park Construction Development Update - and Authorize a 5% Project Budget Extension

As part of the Development Agreement for the Riverstone Subdivision, a $275,300 not-to-exceed budget was established for the development of a Nature Based playground within the neighborhood.  This agenda case is a status update to report that park is on track to be substantially complete by July 1, 2019.  Additionally, approval of this case would add to the construction budget, an approximately 5% increase, primarily to accommodate a sign/monument (12' foot tamarack log construction) with way-finding elements for the park, alongside the city-wide greenway.

Attached are example project elements to illustrate the park's construction progress and scope, including the proposed sign panel content. The referenced budget increase of $13,765 would pay for the sign (approximately $5,000), and be available for other incidental project aspects, like working with a Girl Scout Troop to add playground program elements.

Funding would be from Park Dedication fees paid by the developer, (E.g. $25,300 in fees, approved by City Council on March 26th, 2019 for Riverstone 3rd Addition).

Staff recommends approval of a budget increase by $13,765 for Pearson Park's construction. 

Note: The significant and prominent sign this case discusses, was not included within the $275,300 park budget—staff feels the sign would be an appropriate addition for the unique park, and benefit residents by the way-finding aspects, allowing visitors to discern their location in the community and encourage access to Ramsey's park, trail and greenway system.

Motion to acknowledge the park's construction status, and approve a $13,765 park development increase, funded by the Riverstone subdivsion's Park Dedication fees.