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 CITY COUNCIL AGENDA ITEM NO. 17

Meeting Date: September 25, 2001

Subject/Title: Amend the CIP Budget Sheet reflecting the Funding for this fiscal year for Brentwood Boulevard Parking Lot (CIP Project No. 336-3125)

Submitted by: Engineering: J. Stevenson /D.Boskovic

Approved by: Jon Elam, City Manager



RECOMMENDATION
Approve a Resolution amending the CIP Budget Sheet reflecting the Funding for this fiscal year for Brentwood Boulevard Parking Lot (CIP Project No. 336-3125) located on the east side of Brentwood Boulevard and north of Chestnut Street.

PREVIOUS ACTION
On October 10, 2000, the Redevelopment Agency of the City of Brentwood authorized the Executive Director to sign all necessary papers to acquire the property at 8436 Brentwood Boulevard with funds to come from the Downtown Redevelopment District in the amount not to exceed $150,000.00.

On October 24, 2000, the Redevelopment Agency of the City of Brentwood approved Resolution No. RA-21 for the purchase and acceptance of this parcel for this parking lot.

On November 14, 2000 the Redevelopment Agency of the City of Brentwood approved Resolution No. RA-22 amending Brentwood Boulevard Parking Lot, CIP Project No.336-3125, to increase the budget by $172,000.00 to come from the Redevelopment Agency of the City of Brentwood to finance the remaining estimate for design and construction.

BACKGROUND
This project is one of many that staff is working on to provide additional parking in the downtown area due to business and patronage growth. Funding for this project is coming from the Redevelopment Agency of the City of Brentwood.

FISCAL IMPACT
On December 12, 2000, by Resolution No. RA-24, the Redevelopment Agency accepted a loan in the amount of $322,000.00 ($150,000.00 plus $172,000.00) from the City’s Water Facility Fee Fund for the acquisition and related construction expenditures for the Brentwood Boulevard Parking Lot, CIP Project no. 336-3125. The term and conditions of the loan include monthly-accrued interest at 6%. As of June 30, 2001, this loan remains an outstanding obligation in the Agency’s Downtown Long Term Debt account. The amended CIP Budget Sheet reflects the funding for this fiscal year.

Attachments:
Site Map
Resolution
Amended CIP Budget

RESOLUTION NO.


A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BRENTWOOD AMENDING THE CIP BUDGET SHEET REFLECTING THE FUNDING FOR THIS FISCAL YEAR FOR THE BRENTWOOD BOULEVARD PARKING LOT (CIP PROJECT NO. 336-3125) LOCATED ON THE EAST SIDE OF BRENTWOOD BOULEVARD AND NORTH OF CHESTNUT STREET.


WHEREAS, on October 10, 2000, the Redevelopment Agency of the City of Brentwood authorized the Executive Director to sign all necessary papers to acquire the property at 8436 Brentwood Boulevard, with funds to come from the Redevelopment Agency of the City of Brentwood in the amount not to exceed $150,000.00; and

WHEREAS, on October 24, 2000, the Redevelopment Agency of the City of Brentwood approved Resolution No. RA-21 for the purchase and acceptance of this parcel for this parking lot, and

WHEREAS, on November 14, 2000, the Redevelopment Agency of the City of Brentwood amended Brentwood Boulevard Parking Lot, CIP Project No 336-3125, to increase the budget by $172,000.00 to come from the Redevelopment Agency of the City of Brentwood to finance the remaining estimate for design and construction, and

WHEREAS, this project will provide additional parking for the downtown area.

NOW, THEREFORE BE IT RESOLVED by the City Council of the City of Brentwood that the Budget for Brentwood Boulevard Parking Lot, CIP Project No. 336-3125, is hereby amended to reflect the funding for this fiscal year.

PASSED, APPROVED AND ADOPTED by the City Council of the City of Brentwood at a regular meeting on the 25th day of September 2001 by the following vote:

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