HomeMy WebLinkAboutMINUTES - 03241992 - 1.66 �YJ
4406
TO: REDEVELOPMENT AGENCY Contra
lot-
FROM: PHIL BATCHELOR •� s Costa
EXECUTIVE DIRECTOR County
off. c3
DATE: March 24, 1992 r '
SUBJECT: Payment of Agency Debt - Pleasant Hill BART Station Redevelopment
Project Area
SPECIFIC REQUEST(S) OR RECOMMENDATIONS) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
Approve repayment of Redevelopment Agency (289100) debt to the
General Fund (100300) in the amount of $1, 000, 000 as follows:
1. Advance from General Fund dated 8/21/86, $40, 985. 00 in
principal and $212,991. 23 in interest through 3/31/92--paid in
full.
2 . Various loans on right-of-ways purchased from the County,
dated 6/25/86, $121,912 .49 in principal and $624 , 111.28 in
interest through 3/31/92 . This will fully. pay off principal
and interest on loans for properties P-29, P-4, P-30, P-35,
S-6, P-3 , P-19, and P-5, plus a small portion of principal on
P-33 .
FISCAL IMPACT
The repayment of principal and interest on the Agency debt will
accrue to the County General Fund.
BACKGROUND/REASONS FOR RECOMMENDATIONS
The Contra Costa County Redevelopment Agency has incurred
approximately $1. 4 million in original principal amount of debt to
the County for the implementation of the Pleasant Hill BART
Redevelopment Plan. With accrued interest on June 30, 1991, the
outstanding amount of indebtedness was approximately $3 . 3 million.
CONTINUED ON ATTACHMENT: YES SIGNATURE
RECOMMENDATION OF EXECUTIVE .DIRECTOR RECOMMENDAT7OF AGE CY COMM TEE
APPROVE OTHER
SIGNATURE(S) :
ACTION OF AGENCY ON March 24 , 1992 APPROVED AS RECOMMENDED 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 BOARD OF
SUPERVISORS ON THE DATE SHOWN.
ATTESTED March 24, 1992,
cc: Redevelopment Director PHIL BATCHELOR,
CAO AGENCY SE RETARY
Auditor-Controller
County Counsel
BY jAAj DEPUTY
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