HomeMy WebLinkAboutMINUTES - 06021992 - 1.123 -SIS 1e 123
TO: REDEVELOPMENT AGENCY - ` . . Contra
FROM: Phil Batchelor �` _ jS Costa
Executive Director Coun}„
iii•.
DATE: June 2, 1992
SUBJECT: Repayment of Agency Debt
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
Approve repayment of Redevelopment Agency debt in an aggregate amount
of $209, 140. 51 including interest.
FISCAL IMPACT
The repayment of the Agency debt will provide funds to the County
General Fund and the Flood Control 250600 fund.
BACKGROUND/REASONS FOR RECOMMENDATIONS
In the West Pittsburg, North Richmond and Oakley Project Areas, the
Redevelopment Agency has incurred $132 , 660.20 in original principal
amount of debt for the implementation of the-various project area
redevelopment plans. $37, 660. 20 of this was from the General Fund and
$95, 000. 00 from the Flood Control fund 250600. $23 , 667 . 58 in interest
will be paid to the General Fund and $52 , 812 .73 interest to the Flood
Control fund 250600.
CONTINUED ON ATTACHMENT: X YES SIGNATURE:
RECOMMENDATION OF EXECUTIVE DIRECTOR RECOMMD 'TION OF AGENCY COMM TEE
APPROVE OTHER
• I
SIGNATURE(S) :
ACTION OF AGENCY ON June 2, 1992 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 THE DATE SHOWN.
cc: Community Development
SRA25/jb/radebt.bos ATTESTED June 2, 1992
PHIL BATCHELOR,
AGENCY SECRETARY
BY
_(4q=_01,.4,, OL, DEPUTY
L
W. Pittsburg N. Richmond Oakley Total
Advance from $13, 811. 34 $23 , 848.86 -0- $37, 660.20
General Fund
Interest on General 8 ,714 . 03 14 ,953 .55 -0- 23 , 667 . 58
Fund Debt
Total General Fund $22 , 525. 37 $38, 802 .41 -0- $61, 327.78
Advance from $45, 000. 00 -0- $50, 000. 00 $ 95, 000.00
Flood Control
Interest on Flood 32 , 617 . 02 -0- 20, 195. 71 52 , 812 .73
Control Debt
Total Flood Control $77, 617 . 02 -0- $70, 195.71 $147,812.73
Total Principal $ 58, 811. 34 $23, 848.86 $50, 000. 00 $132, 660.20
Advances
Total Inter 41, 331. 05 14 , 953 .55 20, 195. 71 76,480. 31
Grand Total $100, 142 . 39 $38, 802 .41 $70, 195. 71 $209, 140.51