HomeMy WebLinkAboutMINUTES - 04071987 - 1.69 TO: REDEVELOPMENT AGENCY
FROM: Phil Batchelor,
Executive Director
t.�I ll
DATE: March 26 , 1987 Cma
SUBJECT: Transfer of Funds from Assessment District 1985-3 l.rl irgy
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
Authorize the Auditor-Controller to transfer $12, 136 . 18 from the
Redevelopment Agency to Assessment District 1985-3 .
FISCAL IMPACT
$12,136 . 18 of Redevelopment Agency funds will be, allocated to
Assessment District 1985-3 to reimburse Desco Investments, Inc. for
work completed on Walden Road, the southern boundary of the
Assessment District.
BACKGROUND/REASONS FOR RECONMENDATIONS
Assessment District 1985-3 financed certain public improvements as
well as Developer, Sewer District and Water District fees within
the boundaries of the district known as Wayside Plaza. The public
improvements included street and frontage. improvements, storm
drainage facilities, and acquisition of necessary real property.
The work performed by Desco Investments included the demolition and
removal of 1290 square feet of curb, gutter and sidewalk in order,
to widen Walden Road to a desired width of 58 feet. Original
approval called for a width of 50 feet which was incorrect. The
contractor had completed the curb, gutter and sidewalk portion of
the frontage improvements when the error was realized. Bond
Counsel has advised that this type of contingency is authorized
under the assessment district, which allows expenditure of funds
for road improvements which are of benefit to the distr' ct itself .
CONTINUED ON ATTACHMENT: YES SIGNATURE:
CONIIMEENDATION OF EXECUTIVE DIRECTOR RECOMMENDATOPWOF AG C COMMITTEE
RC1_ APPROVE OTHER
SIGNATURE(S) :
ACTION OF AG CY April 7 , 1987 APPROVED AS RECOMMENDED x OTHER
VOTE OF COMMISSIONERS
I HEREBY CERTIFY THAT THIS IS A
X UNANIMOUS (ABSENT ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE REDEVELOPMENT
AGENCY ON E DATE SHOWN.
cc: Redevelopment Agency ATTESTED $ �
Auditor-Controller via R/A PHIL BATCHELOR,
County Administrator AGENCY SECRETARY
BY DEPUTY
:krc