HomeMy WebLinkAbout2007-11-19 Ordinance 4974ORDINANCE NO.4974
ORDINANCE OF THE COUNCIL OF THE CITY OF PALO ALTO AMENDING
THE BUDGET FOR THE FISCAL YEAR 2007-08 TO PROVIDE AN
ADDITIONAL APPROPRIATION OF $436,000 TO CAPITAL IMPROVEMENT
PROGRAM (CIP) PROJECT PE-98020, PUBLIC SAFETY BUILDING
The Council of the City of Palo Alto does ordain as follows:
SECTION 1. The Council of the City of Palo Alto finds and
determines as follows:
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III of the Charter of the City of Palo Alto, the Council on
June 11, 2007 did adopt a budget for fiscal year 2007-08; and
B. In fiscal year 2006-07, the City Council appropriated
$1,000,000 for CIP Project PE-98020, Public Safety Building
(project) to cover the costs of the preliminary design of a
public safety building and its associated parking garage, and
an Environmental Impact Report (EIR) certification; and
C. In fiscal year 2007-08 adopted budget, the City
Council approved another appropriation of $600,000 for the
additional funding of the Project; and
D. In June 2006, the Council accepted and approved the
Public Safety Building Blue Ribbon Task Force recommendations
to consider a new Public Safety Building at a two-parcel, 1.51
E. In July 11, 2007, the draft EIR was released beginning
the 45 day public comment period. A public hearing with the
Planning and Transportation Commission (P&TC) was held to
obtain comments on the adequacy of the draft EIR for two
options: Option A) a two story building design concept using
the two parcel, 1.51-acre site; and Option B) a design concept
similar to Option A, but using only the one parcel, 1.21-acre
reduced site; and
F. On November 19, 2007, the City Council approved a
purchase option agreement (Agreement) with Essex Park
Boulevard, LLC to acquire real property located at 2785 Park
Boulevard. The Agreement grants the City an option to purchase
the property for a fixed amount of $10,900,000. The agreement
provides for an option payment in the amount of $436,000 upon
execution of the Agreement and monthly payments in the amount
of $36,333 beginning on the thirteenth month of the option
term. The option payments are nonrefundable, but will be
credited against the purchase price of $10,900,000. The City
may exercise its option at any time during the option term by
providing Essex with a 30-day written notice, setting forth
the closing date of the purchase. The City may also terminate
the option upon at least 30 days written notice; and
G. The existing appropriation balance of the Project is
not sufficient to cover for the payment of the first of the
thirteen option payments in the amount of $436,000 mentioned
in Section F; and
H. The General fund Budget Stabilization Reserve will
_______ prrnlide the needed funds of $~,~;~nd _______________ _
I. City Council authorization is needed to amend the
2007-08 budget to make available the funds needed for CIP
Project PE-98020, Public Safety Building.
SECTION 2. The sum of Four Hundred Thirty Six Thousand
Dollars ($436,000) is hereby appropriated to CIP Project PE-
98020, Public Safety Building.
SECTION 3. Revenue in CIP Project Number PE-98020, Public
Safety Building is hereby increased by a transfer from the
General Fund Budget Stabilization Reserve in the amount of
Four Hundred Thirty Six Thousand Dollars ($436,000).
SECTION 4. The General Fund Budget Stabilization Reserve
is hereby reduced by Four Hundred Thirty Six Thousand Dollars
L$A36_,_0_Q_O) __ tQ __ Twenty Thre~ MilliQoOneHundred_Ninety Eight
Thousand Eighty Two-Dollars ($23,198,082 )--as showIli-u Exh±:b±t---
A.
SECTION 5. As specified in Section 2.28.080(a) of the
Palo Alto Municipal Code, a two-thirds vote of the City
Council is required to adopt this ordinance.
SECTION 6. As provided in Section 2.04.330 of the Palo
Alto Municipal Code, this ordinance shall become effective
upon adoption.
SECTION 7. On November 19, 2007, the City Council adopted
a resolution certifying the Final Environmental Impact Report
(FEIR) for the Public Safety Building Project, Adopting
Mitigation Monitoring and Reporting Program and Statement of
Overriding Considerations.
INTRODUCED AND PASSED:
AYES:
NOES:
ABSTENTIONS:
ABSENT:
ATTEST:
APPROVED AS TO FORM:
~'
tt City Attorney
November 19, 2007
BARTON! BEECHAM! CORDELL, KISHIMOTO,
KLEIN! KLEINBERG! MORTON! MOSSAR
Drekmeier
APPROVED:
Servic
!:Ll. 7UJ J
D'irector of Public Works
City of Palo Alto
Exhibit A
rlUI[)UI!!I Amendment Ordinances Iml"AI~tirln r;;""I,.r:1I1 Fund Reserves DDI'OVlea-To.Date in 2007"'()8
• July 1, 2007 (audited balance)
Net change to reserve-adopted budget
Projected ending balance before BAO's
BSR Bawnce After BAO's
Cost Revenue
Placeholders
Already In the
2007-08 Adopted
Budget
Impact on ttie
General Fund
BSR
$27,480,000
$525,000
$28,005,000
I $23,198,082 r
Year Ongoing
Costs