...continued

• From 2005 through 2007, the Renaissance Square project moved forward through:
• Prepared concept design
• Prepared schematic design
• Developed vision to integrate the three components
• Brought the buses to street level
• Secured $45 Million in additional funding
• Over 25 public presentations to nearly 3000 people
• Drafted the E/A with all supporting studies
• Prepared a M/WBE and DBE Participation Plan
• Drafted a Schematic Design Report
• Drafted an Operations Plan
• Drafted Joint development proposals and justifications.

• In Spring 2007, due to cost escalation, project partners slowed the design process to ensure the project was going to remain affordable and sustainable. It was noted by the partners that unprecedented spikes in the cost of steel, concrete and copper, along with skyrocketing fuel costs, were factors that created the need for project reevaluation.

• The partners agreed, regardless of higher costs, the project would be delivered for the original budget of $230 million. The path forward uses the principles of the project remaining affordable and sustainable. Moreover, that Renaissance Square will be designed to budget, and that principle will be the guide for the entire decision making process.

• Today, Main & Clinton Local Development Corp. has the following organization:

• In July 2008, a revised environmental document will be prepared.

• In October 2008, the preliminary design will be complete.

• In February 2009, environmental approval.

• April 2009, decision to move forward.