Reminder: Ladera Linda Community Center and Park Project Financing Options Discussion May 18
Tomorrow night, 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 firstname.lastname@example.org. 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.