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TO: Redevelopment Agency
FROM: Phil Batchelor,
Executive Director
DATE: October 3, 1988
SUBJECT: North Richmond Bypass
SPECIFIC REQUEST S) OR RECOMMENDATIONS AND BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
Authorize the Executive Director or his designee to submit an application for
Community Development Block Grant funds to construct Sections 2 & '3 of the
North Richmond Bypass (Route 93 ) .
FISCAL IMPACT
Action would authorize submittal of an application only. The intent is to
structure a financing that would result in no general fund obligation.
REASONS FOR RECOMMENDATIONS/BACKGROUND
Route 93 , the North Richmond Bypass, is a vital transportation link in
Western County. The project is being planned and constructed in phases.
Sections 2 & 3 , a 1. 34 mile segment from Castro Street in Richmond to Parr
Boulevard in North Richmond, will eliminate industrial and landfill traffic
from the residential area of North Richmond. The County and the City of
Richmond are jointly responsible for securing funding for Sections 2 & 3 .
Estimated costs for these Sections are 3 . 8 million. Sources of committed or
pledged revenue, which total 3 . 255 million, are:
Federal Funds $1,680 ,000
Richmond 975 ,000
County 600,000
$3 ,255,000
Shortfall $577,000
CONTINUED ON ATTACHMENT: YES SIGNATURE:
RECOMMENDATION OF EXECUTIVE DIRECTOR RECOMMENDATIO OF AGE Y/ COMMITT E
APPROVE OTHER j
SIGNATURE(S) :
ACTION OF AGENCY ON October 11, 198AppROVED AS RECOMMENDED X OTHER
VOTE OF COMMISSIONERS
X
UNANIMOUS (ABSENT ) I HEREBY CERTIFY THAT THIS IS A
AYES: NOES: TRUE AND CORRECT COPY OF AN ACTION
ABSENT: ABSTAIN: TAKEN AND ENTERED ON THE MINUTES
OF THE REDEVELOPMENT AGENCY ON THE
DATE SHOWN.
cc: County Administrator ATTESTED October 11, 1988
Redevelopment Director PHIL BATCHELOR,
Public Works Director AGENCY SECRETARY
BY Lo , ,DEPUTY
.October 3 , 1988
Page 2
The Community Development Block Grant Funds are a potential source of Funds
to quarantee a loan to the Contra Costa County Redevelopment Agency is the
preferred method of covering the shortfall. A loan could be secured from the
federal government, or through a private placement bond issue of the
Redevelopment Agency with a CDBG allocation providing funds for debt service
prior to the Redevelopment Agency having sufficient tax increments from the
North Richmond Redevelopment Project Area to debt service responsibilities.
JK:krc
ra29: 10-11-88.ral
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