RES 95068 - Laserfiche WebLink

While the above revenue projections are based substantially on approved projects. they must be viewed as tentative since they are affected by the economy and the health of the housing and construction industry which is generally beyond the City's control. In addition, City Council actions related to future project approvals and growth management allocations could also affect revenue projections. Federal Grants This year's program includes $2,327,315 in grants from the Federal Intermodal Surface Transportation Efficiency Act (ISTEA). This funding is proposed to be used as follows: YEAR PROJECT AMOUNT FY 1995/96 Hopyard Road Re. surfacing (N/O Owens Drive, Stoneridge Drive) $345,945 FY 1996/97 Hopyard Road Resurfacing: Stoneridge Drive to Arroyo Mocho $550,000 FY 1997/98 First Street Bridge at Arroyo Del Valle $1,431,370 Contributions from the Sewer and Water Operation Fund In recent years, the City has adjusted sewer and water rates in part to establish a rate component for sewer and water replacement and improvement projects. To reflect the establishment of the water and sewer replacement funds, the Water and Sewer Programs are divided into expansion, and replacement/improvement projects. Expansion projects are those funded by connection fees while replacements and improvements are funded by the replacement component of water and sewer rates. These funds are not transfertable between each other. The water and sewer replacement and improvement accruals, which are revenue transferred from the Water and Sewer Maintenance and Operation Funds to cover the cost of replacement and improvement projects are estimated to be $6,830,000 and $3,344,000 respectively over the term of this program. The Maintenance and Operation Funds are expected to contribute $2,882,122 and $2,269,969 to cover the Water and Sewer Replacement share of lease payments. In addition to the above, the Sewer program includes a loan from the Sewer Expansion Fund to the Sewer Replacement and Improvement Fund in 1996/97 for $400,000. The loan will be used to pay for all but $66,600 of the Vineyard Avenue/Arroyo Del Valle Addition project which will take place from FY 1995/96 through FY 1997/98. The $66,600 not financed by the loan will come from available Replacement and Improvement accrual revenue. To track repayment of this loan, and a similar loan made this final year for the East Amador Sewer Rehabilitation Project, the revenue section details the loan repayment for each of the projects. Annual loan repayments for the East Amador project will be $175,000 for a period of 10 years beginning in 1996/97. The Vineyard Avenue project loan will be repaid in 1997/98 and 1998/99. The interest on vii