HomeMy WebLinkAboutMINUTES - 08261986 - 1.37 -1-037
TO: BOARD OF SUPERVISORS/REDEVELOPMENT AGENCY
FROM: PHIL BATCHELOR, COUNTY ADMINISTRATOR/EXECUTIVE DIRECTO Contra
DATE: AUGUST 4, 1986 Costa
SUBJECT: AMENDMENT OF AGREEMENT TRANSFERRING FUNDS FROM W
ASSESSMENT DISTRICT 1985-3 TO THE REDEVELOPMENT AGENCY
SPECIFIC REQUEST(S) OR RECOMMENDATIONS) & BACKGROUND AND JUSTIFICATION
RECOMMENDATION:
A. Action of Contra Costa County
Approve and authorize the chairman of the Board of Supervisors to execute an
amendment to the Agreement dated December 17, 1985 between the County and the
Agency with respect to certain public improvements in the Pleasant Hill BART
Station Area and the use of Specific Plan Fees collected through Assessment
District 1985-3.
B. Action of the Agency
Approve and authorize the Executive Director, or his designee, to execute the
subject Amendment, and authorize the transfer of $163,515 from the Agency to AD
1985-3.
FINANCIAL IMPACT
The recommended action will result in the return of $163,515 in funds collected from
projects outside the Redevelopment Project Area, from the Agency back to AD 1985-3.
The Agency may utilize some of these funds to the extent that the Agency constructs
improvements benefiting certain developments.
BACKGROUND/REASONS FOR RECOMMENDATION
On December 10, 1985, the Board of Supervisors authorized the formation of Assessment
District 1985-3, affecting certain property in the Pleasant Hill BART Station area.
The authorization provided for the sale of $2,669,507 in Assessment District Bonds,
including $949,151 in Specific Plan Fees. However, the AD 1985-3 included developments
both in and out of the P1'easant Hill BART Redevelopment Project.
Funds equalling $163,515 were collected from development outside the Redevelopment
Project. These funds should be returned to the Assessment District and utilized by the
Agency only to the extent that Agency constructs improvements benefiting the develop-
ment.
CONTINUED ON ATTACHMENT: YES SIGNATURE: C/
RECOMMENDATION OF CAO/EXECUTIVE DIRECTOR �RECOMMENDATION:1OF BOARD CO ITTEE
APPROVE
SIGNATURE(S):
ACTION OF BOARD/AGENCY APPROVED AS RECOMMENDEDX OTHER
VOTE OF SUPERVISORS/AGENCY MEMBERS
X UNANIMOUS (ABSENT_) I HEREBY CERTIFY THAT THIS IS A TRUE AND
AYES: NOES: CORRECT COPY OF AN ACTION TAKEN AND
ABSENT: ABSTAIN: ENTERED ON THE MINUTES OF THE BOARD OF
SUPERVISORS/REDEVELOPMENT AGENCY ON THE
DATE SHOWN.
A
cc: ATTESTED UG 2 6 1986
ra2:AD1985-3.bo PHIL BATCHELOR, CLERK OF THE BOARD
OF SUPERVISORS, COUNTY ADMINISTRATOR,
REDEVELOPMENT AGENCY SECRETARY AND
EXECUTIVE DIRECTOR
BY DEPUTY