HomeMy WebLinkAbout2005-09-12 Ordinance 4879ORDINANCE NO. 4879
ORDINANCE OF THE COUNCIL OF THE CITY OF PALO ALTO AMENDING _
THE BUDGET FOR THE FISCAL YEAR 2005-06 TO PROVIDE AN
ADDITIONAL APPROPRIATION OF $1,110,305 FOR THE ACQUISITION OF
13-ACRE OPEN SPACE BRESSLER PROPERTY FROM THE PENINSULA OPEN
SPACE TRUST
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:
A. Pursuant to the provisions of Section 12 of Article III of
the Charter of the City of Palo Alto, the Council on June 20, 2005
did adopt a budget for fiscal year 2005-06; and
B. In October 2002, the Peninsula Open Space Trus t (POST)
purchased a 13-'-acre property (the Property) from the Estate of
Jacqueline Bressler. The Property was purchased with the intent of
holding the parcel for open space purposeSi and
C. The Property is located at 1525 Arastradero Road in
Palo Alto and is completely surrounded by the City'S Enid Pearson
Arastradero Preserve. As a result of its location, the City wants
to acquire the Property in order to add it to the adjacent Enid
Pearson Arastradero Preservei and
D. POST previously agreed with the City to acquire and hold
the Property pending the City's ability to raise funds to buy the
Property. The City has until October 1, 2005 to purchase the
Property from POSTi and
E. Since 2002, the City had raised the following grants
totaling $2,592,210. Grants from the State of California Land &
Water Conservation and State of California Roberti-Z'Berg-Harris
Program in the amount of $248,350 will be withheld and will ·be
granted three months after the close of the escrow. In addition,
POST agreed to allow the City to apply jointly held mitigation
funds in the amount of $112,500 from the. Estate of Jacqueline
Bressler to be used towards the purchase of Property. The total
available fund at the close of the escrow is $2,456,360: and
.'
Grantor Amount I
Santa Clara Park Charter Fund $1,000,000
California Coastal Conservancy $1,000,000
State Of California Per Capita Program $ 266,000
State of California Land & Water $ 162,385
Conservation
State of California Roberti-Z'Berg-$ 163,825
Harris Program
Total Grants $2,592,210
Other Sources -Mitigated Fund $ 112,500
Total Funds Available $2,704710
Less: Fund Withheld ~48,350)
Funds Available at the Close of Esc 456,360
F. The City agreed to purchase the Property from POST for
$3,560,000. Since the City has a total available amount of
$2,456,360, a balance of $1,110,305 which include closing costs
of $6,665, is still needed to close the escrOWi and
G. City Council authorization is needed to amend the fiscal
year 2005-06 budget as hereinafter set forth; and.
H. The additional appropriation of funds from the General
Fund Budget Stabilization Reserve is a one-time cost and future
year General Fund ongoing costs are anticipated.
SECTION 2. The sum of One Million One Hundred Ten Thousand
Three Hundred Five Dollars ($1,110,305) is hereby appropriated
from the Budget Stabilization Reserve of the General Fund to
provide additional fund for the purchase of the Property from
POST.
SECTION 3. The Budget Stabilization Reserve is hereby decreased
by One Million One Hundred Ten Thousand Three Hundred Five Dollars
($1,110,305) with a remaining balance of Twenty Million Three
Hundred Sixteen Thousand Six Hundred Ninety Five Dollars
($20,316,695) as shown in Exhibit A.
SECTION 4. 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 5. The Council of the City of Palo Alto hereby
finds that this project is exempt from the provisions of the
California-Environmental Quality Act, and therefore/ no
environmental impact assessment is necessary.
SECTION 6. As provided in Section 2.04.330 of the Palo Alto
Municipal Code, this ordinance shall become effective upon
adoption.
INTRODUCED AND PASSED: September 12, 2005
AYES: BEECHAM, BURCH, CORDELL, FREEMAN, KISHIMOTO, KLEINBERG,
MORTON, MOSSARI OJAKIAN
NOES:
ABSTENTIONS:
ABSENT:
APPROVED AS TO FORM:
~
Senior Asst. City Attorney
APPROVED: .-:r-w---
Director
Services
Amendment Ordinances Iml:UII:::U
BAODescription
IlJalaulcc -per 2p05-06 adopted budget
IHP~U-.AC~IUlsjlton of Bressler Property from POST
BSR Balance After BAO's
Exhibit A
Cost
I $20,316,695 I