RES 98092 - Laserfiche WebLink

· $5,843,771 transfer for the General Fund's Capital Improvement Reserve. This transfer is consistent with action taken during the last mid-term budget process. It should be noted that these projections do not include any additional revenue resulting from the proposed development fee adjustments. If the fee adjustments are approved by Council, staff will make the necessary adjustments as part of the Capital Improvement Program for FY 1999-00. In response to the additional revenue and a review of each CIP category, staff is recommending funding of a number of new and previously unfunded projects. The projects are detailed on pages 25- 28 of the mid-term budget. The new projects are as follows: PROJECTS RECOMMENDED FOR FUNDING Estimated Project Cost Status Description General Fund - Capital Improvement Reserve Funded Projects West Las Positas Interchange - $450,000 New - This project involves the review and development of Public Study Review FY 98/99 alternatives to construction of an interchange on 1-680 at West Las Positas Blvd. Park Renovation Improvements - $100,000 New - City staff is in the process of reviewing planned park Various Parks FY 98/99 renovation projects. This project represents revenue needed to fund renovation projects for the upcoming year. It should also be noted that staff is currently programming available parks project reserves to assure that the highest priority projects are being funded. Purchase Additional OSC Land $825,000 Existing - This project involves the purchase of approximately (5.5-acres) FY 98/99 5.5-acres of land to be used for OSC expansion if it is not dedicated as a part of a development project. This existing project was previously funded at $341,110. The cost has increased to be consistent with staff estimates. A final budget and price would be determined by appraisal. Purchase of a New City $1,350,000 New - Purchase property ~om the City and County of San Center/Community Center Land FY 98/99 Francisco located at the corner of Old Bernal and (3-acres) Bernal Avenue which will address !and needed for the future Civic Center addition/improvements. This reflects the price negotiated as a part of the conceptual agreement with San Francisco reached this spring. Reserve for Happy_Valley Golf $2,500,000 Existing - Recent financial projections indicate that the City will Course FY 98/99 need to contribute revenue beyond the revenue made available through bonds for the development of a proposed City golf course in the Happy. Valley area. This revenue represents the total amount that is currently expected to be required for the completion of this project. SR 98:172 4