HomeMy WebLinkAbout1984-08-21; Housing & Redevelopment Commission; 34; Loan on Central Business Stormdrainx HOUSING AND -EDEVELOPMENT COMM,SS;N - AGENDA BILL ‘
AB# 34 TITLE:
MT&8/21/84 APPROVAL OF DEBT AND REQUEST FOR LOAN ON CENTRAL BUSINESS STORMDRAIN I DEPT.RE D I 1 CITY MGR.=;3M
RECOMMENDED ACTION:
Housing and Redevelopment Commission adopt Resolution No. 041 approving debt and requesting loan for installation of Central Business Stormdrain.
ITEM EXPLANATION
State audit guidelines permit the Redevelopment Agency to incur debt for specific purposes in the Redevelopment Area. Installation of the Central Business Stormdrain is acceptable debt.
The Housing and Redevelopment Commission must officially approve expenditures of the Agency and request the City Council advance these funds to the Agency as a loan.
The City may loan the money to the Agency, the Agency will agree to repay the loan from the tax increment funds at an annual interest ~ rate of 10%. The Commission's action will sanction the loan and document the Agency's indebtedness.
FISCAL IMPACT
Request for loan up to, but not to exceed $802,125, from the City Council for Redevelopment Agency Stormdrain construction to be repaid with interest from tax increment funds.
EXHIBITS
l- Housing and Redevelopment Commission Resolution No. 041 APPROVING debt and requesting loan for Central Business District Stormdrain installation.
2- Contractors bid estimates
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RESOLUTION NO. 041
A RESOLUTION OF THE HOUSING AND REDEVELOPMENT COMMISSION OF THE CITY OF CARLSBAD, CALIFORNIA APPROVING DEBT OF THE REDEVELOPMENT AGENCY AND REQUESTING A LOAN FROM THE CITY FOR THE NECESSARY FUNDS
WHEREAS, the Housing and Redevelopment Commission of the City
of Carlsbad has considered the necessity for installation of a
stormdrain in the Redevelopment Area; and
WHEREAS, the Housing and Redevelopment Commission recognizes
the construction of said stormdrain as acceptable expense to the
Redevelopment Agency.
NOW, THEREFORE, be it resolved, by the Housing and
Redevelopment Commission of the City of Carlsbad, California as
follows:
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That the Redevelopment Agency debt for construction of the Central Business Stormdrain is hereby approved up to but not to exceed $802,125.00.
That the Housing and Redevelopment Commission hereby requests that the City Council of the City of Carlsbad loan the amount up to but not to exceed $802,125.00 to the Redevelopment Agency for the exclusive purpose of funding the installation of the Central Business District Stormdrain.
That the Housing and Redevelopment Commission hereby agrees that the Redevelopment Agency will repay this loan from tax increment funds due the Agency.
That the Redevelopment Commission hereby agrees to pay an annual interest rate of 10% to the City of Carlsbad on the unpaid balance of the loan.
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PASSED, APPROVED AND ADOPTED at a regular meeting of the
Housing and Redevelopment Commission on the 21st day of August ,
1984, by the following vote, to wit:
AYES: Cannissioners Casler, Lewis, Kulchin and Prescott
NOES: None
ABSENT: Ccmmissioner Chick
ATTEST:
ALETHA L.
(Seal)
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! . CIT’-JF CARLSBAD - AGEND/--YLL
\B#77029-“LC/ TITLE: AWARD OF CONTRACT
FOR
dTG. 8/7/84 CENTRAL BUSINESS STORM DRAIN
IEPT. ENG (PROJECT NO. 3085)
iiiis!F
CITY a,,;~=
CITY MGR.i?!!k
RECOMMENDED ACTION:
Adopt Resolution No.~&y/ accepting bids and awarding Contract
No. 3085 for the construction of the Central Business Storm
Drain to Peter C. David Company.
ITEM EXPLANATION:
On May 1, 1984, Council authorized the advertisement for bids for
said project. Five (5) sealed bids were received on July 25,
1984, as follows:
1. Peter C. David Company $693,480.20
5:
Thibodo Construction $705,484.50
Edmond Vadnais $719,837.50
4. Baker Construction $770,650.00
5. Dyno Construction $844,678.00
Engineer's Estimate on this project was $800,000. References .
have been verified on the low bidder, Peter C. David Company.
Staff recommends the award of this contract to Peter C. David
Company.
FISCAL IMPACT:
Budgeted funds in the amount of $802,000 are available in the
Central Business Storm Drain Account No. 30-18-30-3085 for this
project.
EXHIBITS:
1. Location Map
2. Resolution No.76q/accepting bids and award Contract No.
3085 for the construction of the Central Business Storm
Drain to Peter C. David Company.
LOCATION MAP
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:ltV YAP ROOK PAOE / \ -.
PROJECT NAME PROJ. EXHIBIT
IZEMiL .BL/~/~~ss f%%‘?bf MN 3$& / g
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RESOLUTION NO. 7691
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD,
CALIFORNIA, ACCEPTING BIDS AND AUTHORIZING THE EXECUTION
OF CONTRACT NO. 3085 FOR THE CONSTRUCTION OF THE CENTRAL BUSINESS STORM DRAIN.
WHEREAS, bids have been received by the City of Carlsbad for the construction
6 of the Central Business Storm Drain, Contract No. 3085; and
7 WHEREAS, the low bid received for the project was submitted by Peter C.
8 Javid Company, in the amount of $693,480.20; and
9 WHEREAS, funds are available in the Central Business Storm Drain Account No.
10 30-18-30-3085 for this project;
11 NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Carlsbad as
12 follows:
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13 1. The above recitations are true and correct.
14 2. The bid of $693,480.20 by Peter C. David Company for Contract No:3085
15 for the construction of the Central Business Storm Drain is hereby accepted, and
16 5he Mayor and the City Clerk are hereby authorized to execute a contract
17 thereafter.
ia PASSED, APPROVED AND ADOPTED by the City Council of the City of Carlsbad at a
19 *egular meeting held the 'irthday of Auqust , 1982, by the following vote, to
20 ltiit:
21 AYES: Council!&&ersCasler,Lewis, Kulchin, Chickandhrescott
22 NOES: J&ne
23 ABSENT:
t!lLAk/
24 Mayor
25 9TTEST:
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