Laserfiche WebLink
<br />qA.¡; <br /> <br />additional $600,000 is programmed in FY 01/02 from an entitlement as a result of Proposition <br />12 Park Bonds. . <br /> <br />Funding is shown in Attachment A-2 based on a three year time frame of revenue projections. <br />There are sufficient revenues to allow the Council to fund the majority of the priority projects and <br />balance the CIP at the end of year three. <br /> <br />Description of Priority Projects <br />Attachment A-2 represents funding based on the assumptions listed below. <br /> <br />Changes proposed as a result of City Council direction March 27, 2000 <br /> <br />1. The 5th Avenue/ Bay Front Storm Drainage Project can be funded at a significant level in the <br />early years utilizing available revenue. In this altemative, the project is funded at $1 M in FY <br />00/01 ($500,000 would allow completion of Phase II construction to extend the transmission <br />main across Highway 101). In year two, the project is funded at $3.5M sufficient for <br />reconstruction of the levee (thereafter, the assumption regarding this alternative is an <br />increase in sewer bills to finance a bond for completion of the remainder of the work, see <br />Alternative Funding Sources section.) <br /> <br />2. Although the construction of additional Play Fields/Renovation is not suggested for funding <br />until year three, $100,000 has been added to year two for funding the preparation of plans <br />and specifications for Hoover and Fair Oaks fields. Additional funding could be available in <br />FY 01/02 as the information regarding Proposition 12 becomes more precise. Play field <br />renovation, currently underway in cooperation with the County and Redwood City Elementary <br />School District, is funded to allow completion of projects in the works. <br /> <br />3. Funding in the amount of $250,000 for Carrington Hall is recommended in year three with <br />the caveat that this amount be matched by the Sequoia High School Alumni Association fund <br />raising efforts (excluding grants and public sources of funding). <br /> <br />4. Funding for the Street Light Installation Program has been increased by nearly $100,000 (up <br />to $150,000) in the first three years of the CIP. This will provide for the $60,000 per year <br />program of street light installation and replacement of lighting on EI Camino Real and <br />Veterans Boulevard to whiter (but not white) lighting. <br /> <br />5. Major Road reconstruction is funded beginning in year two at $145,000. As directed by <br />Council on March 27th, Roosevelt Avenue (Hudson to Valota only) is funded at $1 M in year <br />one. Additional funding to complete the work is available through Grant and the Sewer and <br />Water Funds. Blomquist Extension is proposed for funding of $3M beginning in year four and <br />an additional $1 M in year five. Other sources of funds for this project can be available from <br />Traffic Impact Fees and potentially from Grant sources that staff will investigate. This road <br />linkage is important for the existing, underway and planned development of the Bair Island <br />Road area. <br /> <br />6. School Playground Equipment Replacement is a $500,000 match to Redwood City <br />Elementary School District and Donor Funding. <br /> <br />7. The Tree Preservation and Sidewalk Repair Program is recommended at $750,000, up <br />$250,000 from the previous years' funding level of $500,000 per year. Council expressed <br />a desire to increase the funding and accelerate the activity. Therefore, $750,000 is <br /> <br />2 <br />