RES 08237 - Laserfiche WebLink

RESOLUTION NO. 08-237 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANTON ENDORSING EAST BAY REGIONAL PARK DISTRICT'S PROPOSED EXTENSION OF REGIONAL OPEN SPACE, WILDLIFE, SHORELINE AND PARKS BOND WHEREAS, the City of Pleasanton and the East Bay Regional Park District are public agencies jointly responsible for providing important public services to their resident constituents; and WHEREAS, the East Bay Regional Park District has expanded by more than 34,000 acres of parkland and shoreline in the last 20 years, largely as a result of funding provided by the 1988 voter approved bond Measure AA which also provided $60 million in funding for local parks and recreation projects; and WHEREAS, in response to continuing community interest, the East Bay Regional Park District Board of Directors has approved placing a bond measure on the November 2008 ballot to extend the Measure AA program; and WHEREAS, the proposed measure would replicate and extend the successful $225 million Measure AA bond passed in 1988; and WHEREAS, the specifics of the Park District's proposed park bond extension measure are as follows: • The proposed issuance of bonds is structured to retain the property tax rate at or below the existing tax rate of $10 per $100,000 of property value for property owners. • The $500 million bond initiative must be approved by two-thirds of voters in Alameda and Contra Costa counties in November 2008. • $125 million (25%) of the bond proceeds will fund local park and recreation projects on aper-capita grant program to cities and other local agencies. • The City of Pleasanton would receive $3,171,377 in funding from the bond extension measure. • $375 million (75%) of the bond proceeds will fund regional park acquisitions, open space preservation, park development, habitat restoration and an emergency reserve. • A detailed project list has been compiled which is available to the public. • The Park District Board of Directors will conduct annual public hearings on projects to be selected and funded by the Measure. • EBRPD's Park Advisory Committee provides oversight review.