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ctTjt" OF SAN BERNARDIf;!,!l
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- REQUEST FOR COUNCIL ACTRO!~\~
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From: Roger G. Hardgrave
Dept: Publ ic: Works/Engineering
Date: 8-14-85
Subject: Allocation of Funds for City's
Matching Share -- Extension of
Hospitality Lane, from Waterman
Avenue to San Timoteo Creek
Synopsis of Previous Council action:
November. 1984
Authorization granted to submit project profile to
EDA.
Harch. 1985
Resolution No. 85-111 adopted authorizing the filing
of an application for grant with the EDA.
Recommended motion:
That the allocation of $293,OOO.00 to Account
No. 242-362-57360, "Extension of Hospitality Lane."
be approved.
cc: John Hatzer. Jr.. City Admin.
Warren Knudson, Dir. of Finance
Glenda Saul. Ex. Dir., RDA
(A .xr-#(kL-
Signature ,
Ward:
5025
1
Contact person: Roger G. Hardgrave
Supporting lIata attached: Staff Report
FUNDING REQUIREMENTS: Amount: $293,000.00
Fund - Account No. 242-362-57360
Phone:
Finance:
Street Construction
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Source:
Council Notes:
7$-0262
Agenda Item No
S,3
OF SAN' BERNARDleP - REQUEOT FOR COUNCIL Ac:yON
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STAFF REPORT
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An application was submitted to EDA for a grant to help finance the
total estimated project cost of $1,280,000. 'This amount has been reduced
by EDA to $843,000, with a maximum grant of $550,000. This leaves an amount
of $293,000 to be financed from local matching funds.
Before the EDA can approve our application for a grant, we will
have to provide adequate assurance ,that the-funds for the City's stipulated
matching share are available.
Therefore, it is recommended that the allocation of $293,000 to
Account No. 242-362-57360, "Extension of Hospitality Lane,- be approved.
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URGENCY CLAUSE
EDA announces grants in the middle of September. It is essential .th~t the
City certify the availability of the required local matching fun~s as, soon
as possible in order to meet this deadline.,
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