Return $1.9 million construction reserve and reimburse $5 million in unforeseen costs for Civic Center project
In Plain English
The city completed Phase 1 of the Civic Center Revitalization Project using Redevelopment Agency funds. The project had $1.9 million left over from its construction reserve that the city plans to return. The Redevelopment Agency also spent $5 million more than expected on unforeseen costs during construction and wants reimbursement.
Auto-generated summary. Source: official agenda documents.
Votes
1) authorize the City Manager to return $1.9 million to the Redevelopment Agency upon close of the Civic Center project; 2) allocate $350,000 to the General Fund Capital Improvement Project budget, (CIP), for purchase of the bulkhead for the Richmond Natatorium; 3) return one lump sum loan payment to the Redevelopment Agency in the amount of $5 million for use in completion of the Macdonald Avenue project
Only return $1.9 million to the Redevelopment Agency
Defer this matter for discussion at the Mid-Year Budget Review
4 to 2
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