2005 AGN MAR 01 I07 - Laserfiche WebLink

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outstanding 1996 Notes, $500,000 was set aside for reserves and to pay for the cost of issuance, and the remaining $2.7 million was identified and reserved for various Redevelopment projects. On January 18, 2000, the Redevelopment Agency Board approved a list of public improvement projects which were recommended by the Mt. Vernon Citizens Advisory Committee (CAC). On June 4, 2002, the Agency and the City entered into a Construction Management Agreement (CMA) to construct the public improvements. Pursuant to the CMA, the City is responsible for the management and supervision of all aspects of the design and installation of these public improvements, including the securing of right- of -way and easements to complete these projects. One of the projects identified in the CMA was the construction of the Colton -San Bernardino Bikeway Project. One hundred thousand dollars ($100,000) was allocated to the project as part of the City share. ANALYSIS/DISCUSSION: The project will be beneficial to the City since it will enhance the aesthetics of Colton Avenue corridor. But prior to commencing any phases of the project, the City needs to execute the attached Program Supplement Agreement No.004-M (Exhibit A). This agreement will allow any funding for future phases of this project to be encumbered upon Caltrans approval of the "Request for Authorization to Proceed" and Finance Letter (Caltrans/Division of Accounting availability of fund notice and approval for a particular phases of project). ENVIRONMENTAL IMPACT• Preliminary Environmental Study (PES Form) was submitted to Caltrans. CONFLICT OF INTEREST None. FINANCIAL/FISCAL IMPACT - The project has total budgeted funding of $1,661,000 with the following breakdown: $ 719,000 — TEA -21 (Transportation Equity Act for the 21 st Century) Grant Funds Account No. 457-9165-6982-3890 $ 432,000 — CMAQ (Congestion Mitigation and Air Quality) Grant Funds Account No. 457-9165-6983-3890 $ 255,000 — City Share coming from Measure I and RDA Funds Account No. 457-9165-6970-3890 and 457-9160-9165-100 $ 255,000 — Caltrans/BTA (Bicycle Transportation Act) Program Account No (newly budgeted) 457-9165-6951-3890 $1,661,000 — Total Project Funding