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The original item was published from 5/12/2021 2:31:00 PM to 5/12/2021 2:34:57 PM.

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Posted on: May 12, 2021

[ARCHIVED] Ladera Linda Park and Community Center Project Financing Options Discussion May 18

May 18

On May 18, the City Council will consider financing options for the estimated $15.7 million Ladera Linda Community Center and Park Project, including recommendations from the Finance Advisory Committee to:

  • Use up to 50% of the City’s American Rescue Plan Act funding;
  • Use available funds from the Quimby Fund; 
  • Use A 50/50 split between financing with iBank and the Capital Infrastructure Program Fund Reserve; and
  • Create a framework to replenish the CIP Fund with interest earnings, additional transfers from the General Fund when there is a surplus, and private funding, such as donations and capital fundraisers.

The hybrid in-person/virtual meeting will take place at 7 p.m. in in McTaggart Hall at Fred Hesse Jr. Community Park and via Zoom with a very limited number of in-person attendees and COVID-19 safety protocols in place. Virtual participation is highly encouraged. The meeting will be live-streamed on the City website and televised on RPVtv Cox 33/Frontier FiOS 38.

 A staff report for this topic is available on the City website. Please submit your comments to the City Council in advance of the meeting by emailing them to cc@rpvca.gov. If you would like to provide comments during the meeting or leave a pre-recorded voice message, please complete a form at rpvca.gov/participate.

For project updates, sign up for the Ladera Linda Park Master Plan listserv at rpvca.gov/notify..

If you are a person with a disability and need an accommodation to participate in programs, services, activities and meetings, contact the City's ADA Coordinator/Risk Manager at 310-683-3157, adarequests@rpvca.gov, 30940 Hawthorne Blvd., Rancho Palos Verdes, CA 90275, at least 48 hours in advance to request an auxiliary aid or accommodation.

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