HomeMy WebLinkAboutMINUTES - 08052008 - C.86A TO: BOARD OF SUPERVISORS Contra
FROM: JOHN CULLEN, CAO
„ai;;,;,� �z Costa
DATE: AUGUST 5, 2008 _ k°
n�sT'4 COIJtl� GPv County
SUBJECT: INTER-FUND LOAN FOR CAPITAL
IMPROVEMENTS TO 4545 DELTA FAIR BLVD.,
ANTIOCH
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
RECOMMENDATION:
ADOPT Resolution No. 2008/, to authorize the Auditor-Controller to include the capital project to
construct improvements to 4545 Delta Fair Blvd., Antioch, in the Capital Project Fund and to utilize the
inter-fund loan previously approved by the Board in an amount not to exceed $19.5 million to the
Capital Project Fund from the Land Development Fund to offset expenses for this project, as
recommended by the County Administrator.
FISCAL IMPACT:
No fiscal impact associated with this action. The Land Development Fund will be repaid in full, with
interest accrued at the rate earned on the County's pooled investments, as determined by the Treasurer-
Tax Collector. It is anticipated that the Land Development Fund will be repaid with proceeds from lease
revenue bonds to be sold by the County in October 2008.
BACKGROUND:
On February 26, 2008 the Board of Supervisors adopted Resolution No. 2008/119 to establish a Capital
Project Fund and authorize the County Auditor-Controller to execute an inter-fund loan not to exceed
$119.5 million to the Capital Project Fund from the Land Development Fund for improvements to 300, 400
and 500 Ellinwood Way, Pleasant Hill on behalf of the Employment and Human Services Department
(E.HSD). The loan will be for a period not to exceed 120 days. This loan will be repaid to the Land
Development Fund when the County issues lease revenue bonds this fall.
The Board awarded a contract in May 2007 for design and construction of capital improvements to 4545
Delta Fair Blvd., Antioch, on behalf of EHSD. Construction is currently underway. This project will also
be financed from future lease revenue bonds. The Board's approval of this resolution would allow project
expenses incurred in fiscal year 2007-2008 for the 4545 Delta Fair Blvd. project to be paid for by the inter-
fund loan to the Capital Project Fund from the Land Development Fund until this loan can be reimbursed
from bond proceeds. Government Code Section 25252 requires that this action be approved by the
Board in the form of a resolution. No change is required to the amount or the term of the inter-fund loan
previously approved by the Board.
CONTINUED ON ATTACHMENT: KYES SIGNATURE:
---``----/------------------------------------------------------------------------------------------------------------ --- ------- - ----------- - - ----- -------------
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMEN ION OF BOARD COM EE
APPROVE OTHER
SIGNATURE(S):
-------------- f J�-�- -�-(.j} ----- --------------------------------------------- -- --- ---------- - ------- ACTION OF
BOARD ONI�r��fL41�1.2/� �- APPROVE AS RECOMMENDV OTI/-IE
VOTE OF SUPERVISORS I HEREBY CERTIFY THAT THIS IS A TRUE
L/ AND CORRECT COPY OF AN ACTION TAKEN
UNANIMOUS(ABSENT ) AND ENTERED ON THE MINUTES OF THE
BOARD OF SUPERVISORS ON THE DATE
AYES: NOES: SHOWN.
ABSENT: ABSTAIN: J��/�
ATTESTED 'U.t-q'ts r
CONTACT: Jason Crapo, CAO JOHN CJJLLEN,CLERK OF THE BOARD OF
SUPERVISORS AND COUNTY ADMINISTRATOR
CC:
Jason Crapo,CAO
Lisa Driscoll,CAO
Steve Ybarra,Auditor Controller
Sharon Anderson,County Counsel
1 "
BY �' L I/LLG DEPUTY
,. THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY,CALIFORNIA
Adopted this Resolution on August 5,2008 by the following vote:
AYES: GIOIA,UILKEMA,PIEPHO,
BONILLA&GLOVER
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
SUBJECT: AUTHORIZING THE AUDITOR-CONTROLLER)
TO INCLUDE IMPROVEMENTS TO 4545 DELTA )
FAIR BLVD., ANTIOCH, IN THE CAPITAL )
PROJECT FUND AND TO OFFSET EXPENSES FOR)
THE PROJECT THROUGH THE INTER-FUND)
LOAN TO THE CAPITAL PROJECT FUND FROM )
THE LAND DEVELOPMENT FUND ) Resolution No. 2008/
WHEREAS on February 26, 2008, the Board of Supervisors adopted Resolution No. 2008/119,
authorizing an inter-fund loan in an amount not to exceed $19.5 million to the Capital Project
Fund from the Land Development Fund for capital improvements to 300, 400 and 500 Ellinwood
Way, Pleasant Hill; and
WHEREAS, the improvements to 300, 400 and 500 Ellinwood Way are intended to be financed
from the proceeds from future lease revenue bonds, and the inter-fund loan will be repaid from
such bond proceeds; and
WHEREAS, capital improvements to 4545 Delta Fair Blvd., Antioch, that are currently under
construction are also intended to be financed from future bond proceeds;
NOW, THEREFORE, THE BOARD RESOLVES TO:
AUTHORIZE the County Auditor Controller to include the project to construct capital
improvements to 4545 Delta Fair Blvd., Antioch, in the Capital Project Fund and to utilize the
inter-fund loan to the Capital Project Fund from the Land Development Fund authorized by
Resolution No. 2008/119 to offset expenses for the improvements to 4545 Delta Fair Blvd.,
Antioch,with no change in the loan amount or term.
Orig.Dept: CAO I hereby certify that this is a true and correct copy
Contact Person: Jason Crapo,335-1021 of an action taken and entered on the minutes of
the Board of Supervisors on the date shown
Cc:cc: County Administrator �u� 0)-0016Auditor-Controller ATTESTED: ""_� t
County Counsel
JOHN CULLEN,Clerk o the Board of Supervisors
and County Administrator