2023-2027 Capital Improvement Plan
thru 2023 2027
Capital Improvement Plan City of Shakopee, Minnesota
Department Building Internal Service Fund
Contact Director of Planning & Develo
Type Buildings
Project #
BA-23-001
Useful Life 50
Project Name River City Centre
Category Buildings
Priority 3 Less Important/Future Consi
Accounting Code
Status Active
Fund
Description Renovations of River City Centre contingent upon successful acquistion of the master retail lease. This would include lighting enhancements, canopies, storefront, signage, sidewalk drainage improvements, street trees, street lights and anchor tenant end cap improvements. Justification River City Centre was constructed in the mid 90's and had little upgrading to the retail spaces on the lower level. Improvements could potential help retain current tenants, attract new tenants and reviltalize the downtown area. Total Project Cost: $1,600,000
Expenditures
Total
2023
2024
2025
2026
2027
Improvements
1,500,000
1,500,000
Engineering/Administration
100,000
100,000
1,600,000
1,600,000
Total
Funding Sources
Total
2023
2024
2025
2026
2027
Tax Increment Financing
1,600,000
1,600,000
1,600,000
1,600,000
Total
Budget Impact/Other Funding for the project would consist of tax increment and lease revenue.
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