ADOPTED BUDGET RESOURCE ALLOCATION PLAN - City of ...

Project: 826700 Town Center Site Investigation/Remediation of Hazmat
Origination Year: 2006-07
Planned Completion Year: 2010-11
Department: Public Works
Project Description / Scope / Purpose
Project Information Sheet
Type: Downtown
Category: Capital
Project Manager: Mark Rogge
Fund: 315 Redevelopment Special Revenue
Sub-Fund: 100 Redevelopment General
Project Coordinator: Hira Raina
This project provides for costs associated with the environmental remediation investigation of the soil conditions at the Town Center Mall project, some locations of which are on property acquired
by the City in 2000 in a land swap for parking use. The Amended and Restated Town Center Disposition and Development and Owner Participation Agreement (ARDDOPA) provides for tiered
cost share, whereby the agency must pay 50% of the first $2 million, then 65% of the next $1 million, then 75% of the next $1 million and then 85% of cost above $4 million. The budget includes
the current estimated cost to the City of $9 million. This amount may change on further analysis.
Project Evaluation and Analysis
The soil remediation needs to done before other construction activities can be started for this project.
Fiscal Impact
This project will be funded by the Redevelopment Agency Fund.
Project Financial Summary
Financial Data Prior
Actual
Project Costs
Revenues
Total
Transfers-In
Total
Operating Costs
Current 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 Y11-Y20
2009-10
Total
Project
Life Total
2,998,236 2,272,038 0 0 0 0 0 0 0 0 0 0
0 5,270,274
0 0 0 0 0 0 0 0 0 0 0 0
0 0
0 0 0 0 0 0 0 0 0 0 0 0
0 0
0 0 0 0 0 0 0 0 0 0 0 0
0 0
Town Center Site Investigation/Remediation of Hazmat 826700