HomeMy WebLinkAbout1986-11-18; Housing & Redevelopment Commission; 75; Construction Carlsbad Blvd Stormdrain Interceptor- .. HOUSING AND DEVELOPMENT COMMISS, 1 AGENDA BILL
I TITLE: APPROVAL OF EXPENDITURE OF FUNDS HD*
ITG. 11/18/86
EPT. RED
FOR THE CONSTRUCTION OF THE
CARLSBAD BOULEVARD STORMDRAIN
i INTERCEPTOR, PROJECT NO. 3229
CITY ArrY
CITY MGR.
RECOMMENDED ACTION:
If Housing and Redevelopment Commission concurs your action
is to adopt Resolution No. 80, approving Redevelopment Agency
Eund expenditure in the amount of $750,000 for the construction
If the Carlsbad Boulevard Stormdrain Interceptor Project -
:ontract No. 3229.
[TEM EXPLANATION
In October 7, 1986, the City Council directed the readvertisement €or bids for the construction of the Carlsbad Boulevard Stormdrain Cnterceptor Project. On October 18, 1986 Council was asked to fward contract No. 3229 for this project based on sealed bids qhich were received.
?unds for this project were appropriated in the 1986-87 Capital Cmprovement Program in account No. 810-840-3410-3229. Funding is contingent on the sale of tax increment bonds by the 2edevelopment Agency by year end. Until such time the Redevelopment Igency is asking that funds be expended from existing cash 2alances in the Redevelopment Fund account.
FISCAL IMPACT
Zxpenditure of $750,000 from Redevelopment Agency cash balance
to be reimbursed from tax increment bond sale. If bonds are
lot sold by year end Agency will request loan from General Fund to cover cost of this project.
EXHIBITS
1 - Housing and Redevelopment Commission Resolution No. 80
1
2
3
4
5
6
7
a
9
10
11
12
13
- 14
15
16
17
ia
19
21
24
25
26
+ 27
28
RESOLUTION NO. 80
A RESOLUTION OF THE HOUSING AND REDEVELOPMENT
COMMISSION OF THE CITY OF CARLSBAD, CALIFORNIA
APPROVING EXPENDITURE OF FUNDS FROM CASH BALANCE
FOR THE CONSTRUCTION OF THE CARLSBAD BOULEVARD
STORMDRAIN INTERCEPTOR, PROJECT NO. 3229
WHEREAS, the Housing and Redevelopment Commission of the
City of Carlsbad, California, has considered the necessity for
the expenditure of funds to cover project no. 3229; and
WHEREAS, the Housing and Redevelopment Commission recognizes
this expenditure as an 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:
1)
2)
3)
4)
//I/
////
////
////
////
////
That the Redevelopment Agency expenditure of funds for the
construction of the Carlsbad Boulevard Stormdrain Intercept01 Project is hereby approved in the amount of $750,000.
That the Housing and Redevelopment Commission hereby
requests that the Finance Director appropriate funds in
the amount of $750,000 from the agency existing cash
balance for the purpose of funding said project.
That the Housing and Redevelopment Commission hereby agrees
that funds will be reimbursed from the sale of tax increment
bonds by year end.
That the Housing and Redevelopment Commission hereby agrees
that in the event tax increment bonds are not sold by year end the agency will request loan from general fund to cover cost of project.
_-
1
2
3
4
5
6
7
a
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
..
PASSED, APPROVED AND ADOPTED at a regular meeting of the
Housing and Redevelopment Commission of the City of Carlsbad,
California, held on the 18th day of November, 1986, by the
following vote, to wit:
AYES:
NOES :
ABSTAIN:
ABSENT:
MARY H. CASLER, Chairperson ATTEST:
ALETHA L. RAUTENKRANZ, City Clerk
(SEAL)
////
////
////
////