HomeMy WebLinkAboutMINUTES - 06241986 - 2.4 TO: BOARD OF SUPERVISORS
FROM: HARVEY E. BRAGDON, ACTING DIRECTOR OF COMMUNITY DEVELOPMENT
DATE: June 24, 1986
SUBJECT: Highway 4 Interim Improvement Over Willow Pass
Specific Requests or Recommendations & Background & Justification
RECOMMENDATION
Adopt resolution to request the Association of Bay Area Governments (ABAG) to draft a loan
agreement to finance the County's share of the cost to construct an interim improvement to
Highway 4 over Willow Pass.
FINANCIAL IMPACT
Adoption of this resolution does not financially impact the County. However, it does cause
the preparation of a loan agreement which, if adopted by a separate action, will result in
a financial obligation of approximately $617,000 during the five year term of the certificate
of participation.
REASONS FOR RECOMMENDATION/BACKGROUND
On April 22, 1986, the Board of Supervisors approved the concept of constructing an interim
capacity improvement to Highway 4 that will add a westbound lane over Willow Pass. This
project was developed in recognition of the fact that financing, designing, and constructing
the ultimate improvements to Highway 4 will not occur for many years while peak period
congestion continues to worsen. Subsequently, the County has requested Caltrans to begin
preliminary engineering work, and the County and Antioch have advanced $100,000 for such
work.
As indicated in our report to the Board on June 1.0, 1986, the County and the cities of
Antioch, Pittsburg, and Brentwood have indicated their desire to jointly finance the cost
of the interim project throuah ABAG's Credit Pool Program. Approval of the resolution will
allow ABAG to apportion the County's cost based on population and to prepare the loan
agreement between the County and ABAG that will finance these costs by issuing a five year
certificate of participation.
Continued on attachment: X yes Signature:
Recommendation of County Administrator Recommendation of Board Committee
Approve Other:
Signature(s):
Action of Board on: June 24, 1986 Approved as Recommended x Other x
Also REQUESTED staff. to set public .hearing as soon as: possible on establishment of fee
structure to implement repayment .of:;.the .County share of the interim improvement costs.
Vote of Supervisors I HEREBY CERTIFY THAT THIS IS A TRUE
AND CORRECT COPY OF AN ACTION TAKEN
x Unanimous (Absent I ) AND ENTERED ON THE MINUTES OF THE
Ayes: Noes: BOARD OF SUP RVISORS ON DATE SHOWN.
Absent: Abstain:
Attested el /M
Orig. Div. : Community Development (T/P) 4PHIL BATCHELOR, CLERK OF
cc: County Administrator THE BOARD OF SUPERVISORS
County Counsel AND COUNTY ADMINISTRATOR
Public Works Q l,�
By � b
DEMUTY CLERK
The County and the cities of Antioch, Brentwood and Pittsburg have indicated the desire to
reapportion the cost of the interim improvement based on future housing construction
activity. This method cannot be used in the loan agreements since the proportionate share
of construction activity will not be known until the end of the term of the loan. County
staff will prepare a side agreement with the cities of Antioch, Brentwood and Pittsburq
containing the terms, conditions, and procedures, necessary to implement this reapportionment
concept after the scheduled loan payments are made to ABAG. This side agreement will be
presented to your Board pni2r to approval of the draft loan agreement with ABAG.
CONSEQUENCES OF NEGATIVE ACTION
Congress is proposing to institute more restrictive tax laws under which ABAG's Credit Pool
Program operates as early as September 1., 1986. Failure to approve this resolution would
delay issuance of the certificates of participation and could result in financing terms less
favorable to the County.
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6.24.86NewBdOrdABAG.t6
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THE BOARD OF SUPERVISORS OF CONTRA-COSTA COUNTY, CALIFORNIA
Adopted this Order on June 24, 1986 by the following vote:
AYES: Supervisors Fanden, Schroder, McPeak, Torlakson
NOES: None
ABSENT: Supervisor Powers
ABSTAIN: None RESOLUTION NO. 86/377
SUBJECT: In the matter of requesting the Association of Bay Area Governments to
draft a loan agreement to finance the County's share of the cost to
construct an interim improvement to Highway 4 over Willow Pass
WHEREAS the County is sponsoring the construction of an interim improvement to
Highway 4 that will add a westbound lane over Willow Pass, and
WHEREAS the County and the cities of Antioch and Pittsburg support the concept of
financing this interim capacity improvement, and have jointly committed $100,000
for the preliminary engineering costs of the project, and
WHEREAS the County has requested the California Department of Transportation to
begin the preliminary engineering work on the interim improvement to Highway 4, and
WHEREAS the Association of Bay Area Governments has established a Credit Pool
Program that offers financing for municipal improvements by issuing certificates
of participation for member agencies, and
WHEREAS the County and the cities of Antioch, Brentwood, and Pittsburg are
members of the Association of Bay Area Governments and seek to finance the
interim improvements by issuing five year certificates of participation issued by
the Association of Bay Area Governments on their behalf, and
WHEREAS the proceeds from the certificates of participation will be sufficient to
pay $2 million in costs associated with the interim improvement including
reimbursement to the County and Antioch for the $100,000 advanced towards this
project, and
WHEREAS the County and the cities of Antioch, Brentwood, and Pittsburg agree to
apportion the cost of the interim improvement on the basis of each jurisdiction's
existing population within Eastern Contra Costa County,
NOW, THEREFORE, BE IT RESOLVED by the Board of Supervisors that:
1. ABAG is requested to apportion 26 (twenty-six) percent of the two million
dollar five year certificate of participation for repayment by the County
which represents that portion of the existing East Contra Costa County
population residing in unincorporated areas.
2. ABAG is requested to draft a loan agreement to secure repayment of the
County's apportioned obligation for the certificates of participation which
will be used to fund all costs associated with the Highway 4 interim improve-
ment, including reimbursement of the $100,000 advanced by the County and the
City of Antioch.
6.24.8660hw 4ABAG.t6 Ihe��„ ro
ythatWds19atnandcorneteopyOf
Y an action taken anG entered on the -minutes of the
Ori g. Dept. : Community Development - TP Board of Supero cors on the date shown.
cc: County Administrator ATTESTED: .—
County Counsel PHIL B CHELOR, Clerk of the, Board
Public Works
Of Supervisors and County Administrator
(24Illy .wwh
RESOLUTION NO. 86/377