HomeMy WebLinkAboutAgenda Statement 1977/07/12 Item 05a' ~ C I TY OF CHULA VISTA ' UNANIMOUS CONSENT
COUNCIL AGENDA STATEMENT Item PJo. 5a
For meeting of 7-12-77
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ITEM TITLE : RESOLUTION N0. 8706 - Appropriating Funds fora Loan from the Unappropriated
Reserve Fund for Appraisals in the Town Centre
Redevelopment Project
SUBMITTED BY ~ Community Development Director
ITEM EXPLANATION (4/5TH'S VOTE REQUIRED YES X NO }
The Redevelopment Agency, at its meeting of July 7, 1977, approved the
procurement of real estate valuation appraisals for the La Jolla/Collins
development area. In order to fund the appraisals, it will be necessary
to obtain a loan from the City's unappropriated reserves in the amount of
$25,050 with the remaining $8,350 to come from the Block Grant Account
#630-6300-BG 37. The funds were not part of the Town Centre Budget and,
hence, must be obtained by a 4/5's vote. The services of the Lee C.
Johnson Company and Tom Roberts will be utilized for the appraisal work
under their master contracts with the Redevelopment Agency.
Agreement
Resolution,
EXHIBITS -
Ordinance
Plat Notification List
Other ENVIRONMENTAL DOCUMENT: Attached Submitted ~3r .
FINANCIAL IMPACT
Repayment will be accomplished via utilization of the advance funds now being
negotiated with the La Jolla/Collins group and the subsequent sale of tax
allocation bonds. The Block Grant funds budgeted for real estate acquisition
provide for appraisals and do not require any special appropriation.
STAFF RECOMMENDATION
Approve resolution.
BOARD/COMMISSION RECOMMENDATION
COUNCTL ACTION
A p p R 0 V E D
by the
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UNANIMOUS COrdSLNT FORI~1
TT IS HEREBY R.E~UESTED by the undersigned that the following
item, with the unanimous consent of the City Council of the City of
Chula Vista, be considered and acted upon by the Council pursuant
to the provisions of Sec, 2.04 .090 of the Chula Vista City Code.
Resolution -Approving Loan to the Redevelopment Aaencv for Appraisals
on the Town Centre Project and Appropriating Funds
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Unanimous Consent of the City Counci
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A~'PR~vED
by the
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Date3..........~ .......................
CA-301