Tuesday, July 1, 2014

The council approved a $5.96 million deficit budget for fiscal year 2014-15, passing the measure 6-1 with Boozé voting no. The city will use cash reserves to cover the shortfall while spending more than it collects in taxes.

Two other major proposals failed to gain council approval. The council voted down 5-2 a spending plan for North Richmond waste mitigation fees, with only Myrick and Rogers supporting the proposal. A separate measure to terminate the advisory agreement with Mortgage Resolution Partners after one year also failed 4-3, with Beckles, Butt, McLaughlin, and Myrick voting against termination.

The council unanimously approved a public hearing on $57 million in tax-exempt bonds for Westridge at Hilltop affordable housing. The California Municipal Finance Authority seeks to issue the bonds to finance improvements at the affordable housing complex.

The council approved 7 routine items on consent, including a $2.5 million increase to the Chevron lawsuit legal contract, bringing the total to $7.25 million. Other consent items included a $147,000 final payment to complete the Riggers Loft construction project and hiring Regina Almaguer Fine Arts for $20,460 to manage the Point Sheridan sculpture project.