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HomeMy WebLinkAboutR14-Economic Development Agency ." C:t.:Y~OF SAN BERtORDINO - REQUEST OR COUNCIL ACTION -'" . From: Qt: Shauna Clark, City Administrator Subject: Authorize sum of $500,000 in Acct. No. 242-362-57895 to be utilized for resurfacing of various streets and allocat. sum of $500,000 from EDA funding source for the purpose of paving Arrowhead Ave., Mill to 3rd. Administration Date: December 4, 1991 Synopsis of Previous Council action: 10/21/91 -- Mayor and Council referred the matter of transferring $500,000 from the street construction fund to the paving fund to the Ways & Means Committee. 10/30/91 -- The Ways & Means Committee recommended that the sum of $500,000 previously earmarked for paving Arrowhead Avenue, Mill to 3rd be designated for the purpose of resurfacing residential streets. Recommended motion: Motion Bo. 1 - Kayor " eo..m Council ~That the sum of $500,000 previously allocated under Acct. No. 242-362-57895 for the ~urpose of paving Arrowhead Avenue, Mill to 3rd be utilized for resurfacing various streets by City forces. Motion Ro. 2 - eo-mity Deve10paent eo-ission That the sum of $500,000 be allocated from the Subordinate Tax Allocation Bond Issue of 1991, Series B, Central City Merged Project for the purpose of paving Arrowhead Avenue, Mill Street to 3rd Street. ch//n?~AI'/ Signature Contect person: Shauna Clark Phone: 5122 Supporting data attached: Yes Ward: FUNDING REQUIREMENTS: Amount: $500.000 Source: IAcct. No.! Subordinate Tax Allocation Bond Issue of 199] (Acct. DescriPtion) Series B, Central City Merged Project Finance:J' ~<.. -~~ ~~Iv. '17f Ouncil Notes: ..' 75-0262 Agenda Item No If CITY OF SAN BERtClRDINO - REQUEST QR COUNCIL ACTION ~ c o o 75--0264 STAFF REPORT At the meeting of the Mayor and Common Council held October 21, 1991, the Capital Improvement Budgets for FY 1991-92 were approved wi th the exception of the $500,000 which was earmarked for the paving of Arrowhead Avenue, Mill street to Third street. This matter was referred to the Ways and Means Committee. On October 30, 1991, the Economic Development Agency informed the Committee that funding for the paving of Arrowhead Avenue, in the amount of $500,000, was available from the Subordinate Tax Allocation Bond Issue of 1991, Series B, Central City Merged Project. The Ways and Means Committee recommended that the sum of $500,000 previously earmarked for the paving of Arrowhead Avenue be designated for the purpose of resurfacing residential streets ($100,000 per ward) bringing the total of funds available for this purpose to $700,000. J'-f