HomeMy WebLinkAboutMINUTES - 09251990 - 1.77 TO: REDEVELOPMENT AGENCY
FROM: PHIL BATCHELOR, '���- � Ccntra
�. EXECUTIVE DIRECTOR 'C /
Costa
DATE: September 25 1990 c
p �.�; a ��� County
. � ��i.. 1
r� i'iva
SUBJECT: Financial Participation Agreement with
Contra Costa County Redevelopment Agency
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
.Approve Financial Participation Agreement with the County of Contra
Costa for Highway 4 improvements in the Oakley Redevelopment
Project Area; and authorize the Executive Director or his designee
to execute said agreement.
FISCAL IMPACT
No General Funds are involved. County will pay for:�� `.theo '
improvements specified in the attached agreement ,with.'.; the the ., , .
Oakley/North Brentwood Area of Benefit (AOB) funds.. ,,;,.-The ,*Agency ' . .
will reimburse the AOB funds following completion of/ ' the. .
improvements when sufficient tax increments are available, as
provided in the agreement.
BACKGROUND/REASONS FOR RECOMMENDATIONS
The Contra Costa County Board of Supervisors adopted a
Redevelopment Plan for Oakley on December 21, 1989. The Plan calls
for public improvements in the Project Area, including improvements
to Highway 4 . The Public Works Department is in the process of
designing Highway 4 improvements that will be of benefit to the
Oakley Redevelopment Project Area. The Agency desires to
participate in the financing of these improvements. Current tax
increments are insufficient for the Agency to fund these
improvements at this time. The improvements to be funded are in
the Oakley/North Brentwood Area of Benefit and are authorized -
improvements under the Oakley/North Brentwood Area of Benefit Plan
CONTINUED ON ATTACHMENT: YES SIGNATURE: �y
RECOMMENDATION OF EXECUTIVE DIRECTOR RECOMMENDATION AGENCY MMITTEE
APPROVE OTHER �.
SIGNATURE(S) :
ACTION OF AGENCY ON September 25, 1990 APPROVED AS RECOMMENDED X OTHER
VOTE OF COMMISSIONERS
I HEREBY CERTIFY THAT THIS= IS A
X UNANIMOUS (ABSENT ) TRUE AND CORRECT -COPY OF 'AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE REDEVELOPMENT
AGENCY ON THE DATE SHOWN.
cc: Redevelopment Director ATTESTED September 25, 1990
CAO PHIL BATCHELOR,
Auditor-Controller AGENCY SECRETARY
County Counsel
BY , DEPUTY
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sra8:a:9-25-90.bs1 (dw4)