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TO: REDEVELOPMENT, AGENCY . Costa c Awe r t7`
FROM: Phil Batchelor J° �ur�ty
Executive Director r^ C ���JJ
DATE: November 9, 1993
SUBJECT: Repayment of Redevelopment Agency Debt
SPECIFIC REQUEST(S) OR RECOMMENDATIONS) & BACKGROUND AND. JUSTIFICATION
RECOMMENDATIONS
APPROVE repayment of Redevelopment Agency debt in the aggregate amount
of up to $440, 800 . 00 including interest.
FISCAL IMPACT
The repayment of the Redevelopment Agency debt will provide funds to
the County General Fund.
BACKGROUND/REASONS FOR RECOMMENDATIONS
In the Pleasant Hill BART Redevelopment Project Area, the
Redevelopment Agency has incurred $494,772 . 01 in debt for purchase of
right-of-way property. At June 30, 1993 , $425, 840. 57 in interest had
accrued on this balance, with additional interest since then.
The Redevelopment Agency's adopted 1993-94 budget provided for this
repayment to the County General Fund.
CONTINUED ON ATTACHMENT: . YES SIGNATURE:
RECOMMENDATION OF EXECUTIVE DIRECTOR RECO�ME ,DATION F AGENCY CO ITTEE
APPROVE OTHER //
SIGNATURE(S) :
ACTION OF AGENCY ON Nm7PmhPr 9r 19q�— APPROVED AS RECOMMENDED OTHER
VOTE OF COMMISSIONERS
I HEREBY CERTIFY THAT THIS IS A
x UNANIMOUS (ABSENT II ) 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.
Contact: Don Steinweg
646-4208 ATTESTED November 9 , 1993
cc: Community Development PHIL BATCHELOR,
Redevelopment Agency AGENCY SECRETARY
CAO
County Counsel
Auditor-Controller
BY
DEPUTY
DSah
srall/debt.bos