HomeMy WebLinkAboutMINUTES - 10301990 - 1.63 i
TO: REDEVELOPMENT AGENCY r^� }}
FROM: PHIL BATCHELOR, _� , ;;
EXECUTIVE DIRECTORa
DATE: October 30, 1990 � . (`WW���y��-ty
^a `4o t/v"--�i ��y
SUBJECT: Repayment of Agency Debt �`UU
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JIISTIFICATION
RECOMMENDATIONS
Approve repayment of Redevelopment Agency debt to the County
General Fund in an amount of $297,000.00 for the following.
Advances between 1984 and 1987 (Advance 1003) ; and
approve an Appropriation Adjustment to 1990-91 Redevelopment
Agency Budget.
FISCAL IMPACT
The repayment of the Agency debt will accrue to the county General
Fund.
BACKGROUND/REASONS FOR RECOMMENDATIONS
The Contra Costa County Redevelopment Agency has approximately $4.4
million dollars of outstanding debt to the - County for
implementation of the Pleasant Hill BART Redevelopment Plan.
The above recommendation will result in repayment of $297,000.00 of
operating advances made by the County between 1984 and 1987 to the
County General Fund. In order to permit the Agency to repay the
foregoing debt an Appropriation Adjustment of $47,000.00 is
required to transfer funds from General Reserve accounts to the
Long Term Debt Retirement Account. p
I
CONTINUED ON ATTACHMENT: YES SIGNATURE:
_ RECOMMENDATION OF EXECUTIVE DIRECTOR RECOMMENDATION O ENC7 COMMITTEE
APPROVE OTHER /
I
SIGNATURE(S):
ACTION OF AGENCY ON October 30, 1990 APPROVED AS RECOMMENDED X OTHER
VOTE OF COMMISSIONERS
X I HEREBY CERTIFY THAT THIS IS A
_ 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 October 30, 1990
CAO PHIL BATCHELOR,
Auditor-Controller AGENCY SECRETARY
County Counsel
BY J , DEPUTY
AUDrrOR-:ONTROIlER USE ONLY
CONTRA COSTA COUNTY FINAL APPROVAL NEEDED sr
APPROPRIATION ADJUSTMENT P�J—`REoEVELOPMENT AGENCY
TIC 27
COUNTY ADMINISTRATOR
BUDGET UNT: 7891 P. H. BART Construction
ACCOUNT CODING
DRGANIZATION O(PE-NDITURE I EXPENDITURE ACCOUNT DESCRIPTION <DECREASE> INCREASE
Sil3-ACWUN
00 00
7891 3505 Retire. of Oth. Long Term Debt I 47,000 Oil
7891 6350 General Reserve 47,000 00 I
I 1
I I
I I
I !
! I
� I I
I I
1 t
i I
I I
1 I
1 1
l I
TOTALS 47,000 00 47,000 00
APP ROVED EXPLANATION OF REQUEST
AUDITOR-C N7 L4ER --
�� Use part of General Reserve to Retire Other Long
z Dete, YC Tenn Dcbt
/COUNTY AD I ISTRATOR
Iv: IMLDate Icy-2S 0
REDEVELOPMENT AGENCY
YES: Supervlisors Powers.Fand-gin.
{C ,*Wer.Mc-Peak,To Ic wi.t '
NO: None Depu hector
tUfZ�
ABSENT: None ABSTAIN: None
21-
P"
ATC LOR, ncy Secretary s1 E TITLE DATE
5052
sy;
a Dace 10 j 3 0 j O APPROPRIATION APOO„____,,
D u ty ADJ.JOURNAL NO,
REVISED
(AAt2e ROW 24eel SEE UCTIONS ON REVERSE SIDE