HomeMy WebLinkAboutMINUTES - 04081986 - 1.37 TO: BOARD OF SUPt VISORS
FROM: HARVEY E. BRAGDON, Contra
ACTING DIRECTOR OF COMMUNITY DEVELOPMENT
Costa
DATE'. APRIL 8, 1986 County
SUBJECT: REIMBURSEMENT AND LOAN AGREEMENT WITH CONTRA COSTA CENTRE ASSOCIATION
SPECIFIC REQUEST(S) OR RECOMMENDATION(S) a BACKGROUND AND JUSTIFICATION
RECOMMENDED ACTION
Approve and authorize the Chairman to execute an Agreement with
the Contra Co`sta ,Centre Association providing for reimbursement
of up to $38, 000 sand a loan of $77,000 for development of
Transportation Systems Management (TSM) and Child Care Programs
in the Pleasant Hill BART Station Area. _
FINANCIAL IMPACT ' I
The recommended action represents a grant of up to $38,000 and a
loan of up to $71,000. Funds would be drawn from monies
collected in the ' Pleasant Hill BART Station Area for planning
purposes and TSM implementation. Thus far, approximately $114,000
has been collected for planning studies (the "nickel fee" ) of
which $62,000 was spent on initial TSM studies. Over $1,178,000
has been collected for TSM implementation (the "fifty cent fee" )
of which no funds have been spent, although $1,000,000 was loaned
to the Redevelopment Agency temporarily. Most of these funds
were received through the formation of Assessment District 1983-1
and 1985-3 .
The Association is required to repay the loan at an interest rate
equivalent to the rate paid by the State Local Agency Investment
Fund. This rate, is consistent with the best interest rates that
the County woul& earn on its investments normally.
BACKGROUND
On February 251 1986, the Board of Supervisors appropriated funds
and approved the reimbursement and loan of funds to the Contra
Costa Centre Association for TSM and Child Care planning and
implementation. The Board further directed that an agreement be
negotiated and returned to the Board for final approval.
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CONTINUED ON ATTACHMENT: II� YES SIGNATOR
RECOMMENDATION OF COUNTY, ADMINISTRATOR RECOM EN ION O B AR COMMITTEE
APPROVE BOTHER -
SIGNATURE(S):
ACTION OF BOARD ON APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS
.l HEREBY CERTIFY THAT THIS IS A TRUE
£ UNANIMOUS (ABSENT " AND CORRECT COPY OF AN ACTION TAKEN
AYES: NOES. AND ENTERED ON THE MINUTES OF THE BOARD
ABSENT: ABSTAIN: OF SUPERVISORS ON THE DATE SHOWN.
GG/
cc: County Administration ATTESTED I��
County Auditor PHIL BATCHELOR. CLERK OF THE BOARD OF
Contra Costa Centre Association SUPERVISORS AND COUNTY ADMINISTRATOR
M382/7-83 BY DEPUTY
Contra Costa Centre Association
April 8, 1986
Page 2
u
The Agreement provides for reimbursement of P to $38,000 for
direct costs in developing and formulating TSM and Child Care
Programs. This includes efforts to draft areawide and countywide
ordinances for TSM implementation and enforcement. The Agreement
also provides for a loan of up to $77 ,000 for TSM start up costs,
including staffing, promotional materials, office space, outreach
and other associated items. The Agreement provides that work be
done in accordance with the approved workplan and contains
requirements for auditing, monitoring and review by County staff.
The Association will also be paying interest on the loan
consistent with the best rates normally earned by the County on
its investments.