2002 AGN APR 16 I19 - Laserfiche WebLink

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Item #19 REDEVELOPMENT AGENCY FOR THE CITY OF COLTON For the City Council and The Redevelopment Agency Meetings of April 16, 2002 TO: Honorable Mayor/Chairperson and City Council/Agency Boardmembers FROM: Candace Cassel, Redevelopment Manager SUBJECT: Consideration and Approval of Resolutions approving entering into a Construction Management Agreement by and between the Redevelopment Agency for the City of Colton and the City of Colton for the Funding and Construction of Certain Public Improvement Projects benefiting the Mt. Vernon Corridor Project Area. DATE: Background April 8, 2002 Back in September 1999, the Colton Public Financing Authority (the "CPFA") issued $5.29 million in Tax Allocation Bonds secured by tax increment revenues in the Mt. Vernon Corridor Project Area. Approximately $2.0 million was used to refund existing debt from outstanding 1996 Notes, $500,000 was set aside for reserve and to pay for the cost of issuance, and the remaining $2.7 was identified and reserved for various Redevelopment projects. On January 18, 2000, the Agency Board approved the following list of public improvement projects which had been identified and recommended for funding by the Mt. Vernon Citizens Advisory Committee. Mt. Vernon Streetscape Residential Curb & Gutters & Sidewalks Residential Lighting Commercial Rehab Grants Fencing Scenic Drive Colton Avenue Underground Colton Avenue Bikepath Fairway Street Widening Demolition of Buildings Abandoned Home Acquisition/Rehab Estimated Total Cost $ 1,469,548 $ 316,250 * $ 13,000 * $ 350,000 $ 24,000 $ 63,000 $ 100,000 (Partial) $ 330,438 $ 50,000 $ 100,000 $ 2,816,236 On April 4, 2000, the City Council adopted Resolution R-26-00 which made certain findings of benefit and authorized the Agency to use the bond proceeds for this list of public improvements. Following this approval, Agency staff solicited cost proposals from several design and engineering firms. On June 20, 2000, the Agency Board awarded a professional services contract for the design of the major public improvements to David Evans and Associates. The Agency Board