HomeMy WebLinkAbout0304.093-
----~
May 20, 1993
THE HONORABLE CITY COUNCIL
Palo Alto. California
J3UDGfT ()-94 4
CLOSI~G or CJ\F-IT~L IMPROVEMENT PROJECT~l; __ ~_L ___ .l19071 AND BUDGET
AMgNPMENT OROIN~C~
Members of the Council:
Report in Brie.1
The purpose of this report is to transmit to Council a Budget
ltmendment Ordinance (BAO) to close Capital Improvement Project
(elF) #19077 ~ The project was establ ished w"i thin the 1989-90
Capital Improvement Budget fDr the initial environmental impact
report (EIR) for a1 ternathte projects then under consideration for
the extension of Sand Hill Road. The project. application for ... 'hich
the ErR work was or iginally intend~d ... 'as withdrawn, necessitating
the closure of this capital project .
.Discussion
When the Sand Hill Road ElR Project was originally established ..
various alternative plans for the extension of Sand Hill Road 'Were
being studied. Funding of $500,000 was to be available from the
Street Improver.J.ent Fund, · .. ith 100 percent reimbursement from
Stanford University. In 1991, the city contracted with EIP
Associates to conduct the EIR work. However, in November 1991,
Stanford advi:::;ed the City that it ",ishs:d to dela~r further work by
the consultants until February 1992, and Erp Associ,3tes was advised
to stop .. ark on t.he project until notified to continue. In
December 1992, stanford formally terminated the project in order to
pursue a ne~ proposal ~hich includes the expansion of the Stanford
Shopping Center and refined plans for the Sta!"lford West housing
development~ as well as the road extension. Costs incurred for the
CMR:J04:9J
i " 1
origil"'.al ErR project are in thE! process of being rei ~bursed to the
City b}t Stanford University.
Statf recc>lUl'ter.c3.s trlat Co1lncil approve the atti3.chsd BAO. closing elF
19077. Such action ...... i11 effect the transfer of the $500. OeD
appropriat~d for tr.is project l.n the Capital 17!lpro .. rement Fund to
the 8udget Stabilization Reserve.
Respectfully submitted,
CARD L FERRELL
CMR: 304: 93 2
"
"
•
i·'· ,
I
I
t
I
I
"
ORDINANCE NO~
ORD!NANCE OF 'rHE COUNCIL OF THE CIT'i OF PALO ALTO
AMENDING THE BUDGE,}; FOR THE FI$C}I.L YEAR 1992-93
TO CLOSE THE CITY-S C1<.?ITAL IMPF')VEMENT PROJECT 19017,
nSAND HILL ROAD EJR," fu~D TO
REVERT PROJECT FUNDS TO THE ;3UDGET STABILIZATION RESERVE
WH~EAS, pursuant tc the provisions Gf Section 12 of Article
III of the Charter of the City of Palo Alto. the Council on Sun~
22, 1992 did adopt a budget for fiscal year 1992-93; and
WHEREAS, the city funded a $500,000 projec~ within the 1989-90
Capital Improvement Progr~~ budget for the initial environ~ental
iropact report (EIR} for alternative projects under the Sand Hill
Road extension; and
WHEREAS, the City is in the process of being reimbursed by
stanford University for the minimal costs incurred under the EIR
project; and
~'HEREAS, Stanford University, .... ho w'as
project costs, has terminated the project
proposal;
to
to
reimburse
develop
total
a ne ...
NOW, THEREFORE, the Council of the City of palo Alto does
ORDAIN as follows:
SECTION 1. The Council of the city of Palo Alto hereby clo~es
the Sand Hill Road ErR, Capital Ir.1provement project 19077, "nd the
appropriation of Five Hundred Thousand Dollars {$500,000) reverts
to the Budget Stabilization Reserve.
SECTION
Stabilization
1993.
2. 'I'his transaction ~ill increase the Eudget
~es~rve from $10,2D2,157 to $10,702,167 as of May ~1,
SECTION 3~ The Council of the City of palo Alto hereby finds
that the enactment of this ordinance is not a project under the
California EflYirononental Qualit:t Act and, therefore, no environmen
tal impact assessment is necessary.
SEcrION A ..
Municipal Code,
adoption~
As provided in sectio~ 2.04.375 of the Palo Alto
this oroinance shall become effective upon
INTRODUCED AND PASSED:
AYES:
NOES:
'".-
J,
I
I,
AESTENTIONS:
ATTEST:
",..,:-:-~-=------C.lty Clerk
APPROVED'AS TO FO&~:
APPROVED:
city Manager
Director of Finance
•
APPROVED: