HomeMy WebLinkAboutCouncil Agenda StatementCITY OF NATIONAL CITY, CALIFORNIA
COUNCIL AGENDA STATEMENT
MEETING DATE: September 27, 2011
AGENDA ITEM NO.
ITEM TITLE:
Resolution of the City Council of the City of National City authorizing a change in appropriation from Tax Increment Fund to the
2011 Tax Allocation Bond (Capital Improvement Projects) Fund for a total of $800,000 for two CIP projects: 1) Highland
Avenue Safety Improvements Project in the amount of $400,000 and 2) Traffic Safety Enhancements (Including future SR2S)
Project in the amount of $400,000. (Funded by 2011 Tax Allocation Bond (Capital Improvement Projects) Fund)
PREPARED BY: Barby Tipton
PHONE: 619-336-4583
EXPLANATION:
DEPARTMENT: Development _ rvices /
APPROVED BY: Engi
•
During the budget process for the Capital Improvement Program (CIP), Council approved appropriating from the Tax
Increment Fund (511), $800,000 to fund two CIP projects: 1) Highland Avenue Safety Improvements Project and 2)
Traffic Safety Enhancements (Including future SR2S) Project. After reviewing bond requirements, it was determined that
the proper appropriation should be fund 524, the 2011 Tax Allocation Bond (Capital Improvement Projects). It is requested
that the approved appropriation from Tax Increment funds be released and the appropriation be established using 2011 Tax
Allocation Bond (Capital Improvement Projects) Fund for the two projects, each in the amount of $400,000 for a total of
$800,000.
FINANCIAL STATEMENT:
ACCOUNT NO.
APPROVED: Finance
APPROVED: MIS
Funds are available to appropriate $800,000 from 2011 Tax Allocation Bond (Capital Improvement Projects) to account 524-409-500-598-6170 (Highland Avenue
Safety Improvements) in the amount of $400,000 and to account 524-409-500-598-6183 (Traffic Safety Enhancements (Including future SR2S) in the amount of
$400,000. Un-appropriate $400,000 from account 511-409-500-598-6183 and $400,000 from account 511-409-500-598-6170
ENVIRONMENTAL REVIEW:
N/A
ORDINANCE: INTRODUCTION:
FINAL ADOPTION:
STAFF RECOMMENDATION:
Adopt the Resolution.
BOARD / COMMISSION RECOMMENDATION:
N/A
ATTACHMENTS:
Resolution