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THE CITY OF <br />~ ~ :i:f n~ <br />j~L£~S~4NTONo <br />25 <br />City Council <br />Staff Report <br />January 16, 2007 <br />Assistant City Manager <br />SUBJECT REVIEW OF THE UPDATED DRAFT FINANCING PLAN FOR <br />VINEYARD AVENUE CORRIDOR INFRASTRUCTURE <br />IMPROVEMENTS <br />STAFF RECOMMENDATION: <br />Approve the Updated Draft Financing Plan for Vineyard Avenue Corridor <br />Infrastructure Improvements (Updated Financing Plan) attached to this <br />report as Attachment 1, and authorize expenditures for the Vineyard Avenue <br />Booster Pump Station (CIP 011023), Water Turnout No. 6 (CIP 011023) and <br />related contract management and consulting services as detailed in City <br />Council agenda item 25B. <br />SUMMARY This report updates the Draft Financing Plan for Vineyard Avenue Corridor <br />Infrastructure Improvements (Financing Plan) (Attachment 2) approved by <br />the City Council at its meeting of September 19, 2006. The Updated <br />Financing Plan (Attachment 1) is provided in response to Council's request <br />to revisit the Financing Plan prior to making additional expenditures in the <br />Vineyard Corridor. The Updated Financing Plan also includes funding <br />adjustments to meet expenses related to constructing additional Vineyard <br />Avenue Corridor infrastructure improvements as outlined in Agenda item <br />25B. While the Updated Financing Plan is intended to be used for these <br />projects, it retains the "Draft" label pending inclusion in the FY 2007-08 <br />Capital Improvement Program (CIP) as discussed later in this report. <br />Honorable Mayor and Members of the City Council: <br />Page 1 <br />