HomeMy WebLinkAboutMINUTES - 07281992 - 1.57 1 . 57
Contra
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TO: BOARD OF SUPERVISORS �; -�1
Costa
FROM: J. Michael Walford `,�rt
- : COUr /
Director of Public Works ""�
DATE: July 28 , 1992
SUBJECT: Advance of Funds to the Redevelopment Agency for
Pacheco/Buchanan Field Redevelopment Plan Adoption Expenses.
SPECIFIC REQUEST(S) OR RECOMMENDATIONS (S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
Approve a loan of $150, 000 from Airport Enterprise Funds (org 4841-
2310) to the Contra Costa County Redevelopment Agency for costs
associated with adoption of a Pacheco/Buchanan . Field Redevelopment
Plan; and authorize the Director of Public Works to execute a
Repayment Agreement with the Redevelopment Agency.
FISCAL IMPACT
The advance is a loan of $150, 000, which the Redevelopment Agency will
repay, plus interest at the Local Agency Investment Fund (LAIF) rate
as determined for the second quarter of 1992) from tax increments
generated by a project in Pacheco/Buchanan Field, if adopted. Funds
to be advanced would be from a non-general fund source.
CONTINUED ON ATTACHMENT: YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATORECOMMEN ION OF B D COMMITTEE
APPROVE OTHER
SIGNATURE(S) :
ACTION OF BOARD ON 41111 91 R 1997� APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS
/ I HEREBY CERTIFY THAT THIS IS A
V UNANIMOUS (ABSENT ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE BOARD OF
SUPERVISORS ON THE DATE SHOWN.
Public Works
cc: Community Development
CAO ATTESTED JUL 2 8 1992
Auditor-Controller PHIL BATCHELOR, CLERK OF
SRA2/jb/pfbexpns.bos THE BOARD OF SUPERVISORS
AND COUNTY ADMINISTRATOR
BY , DEPUTY
BACKGROUND/REASONS FOR RECOMMENDATIONS
The Redevelopment Agency is charged with the responsibility of
investigating the feasibility of establishing a redevelopment
project in the Pacheco/Buchanan Field area. The Agency currently
has insufficient funds to do so on a timely basis.
The area being surveyed is badly in need of infrastructure,
community facility housing improvements, and establishment of a
redevelopment project in the Pacheco/Buchanan Field area may
greatly enhance the ability of the County to construct and finance
such improvements.
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