Department: Management and Budget
Department Head/Elected Official: Daniel Ramos, Executive Director
Regular or Supplemental RCA: Regular RCA
Type of Request: Commercial Paper
Project ID (if applicable): DOWNTOWN_BLDG
Vendor/Entity Legal Name (if applicable): N/A
MWDBE Contracted Goal (if applicable): N/A
MWDBE Current Participation (if applicable): N/A
Justification for 0% MWDBE Participation Goal: N/A - Goal not applicable to request
Request Summary (Agenda Caption):
title
Request for approval of commercial paper funding for the Office of the County Engineer for the Building Consolidation project in the additional amount of $6,840,000 for a total CP funding of $62,000,000.
end
Background and Discussion:
Commercial Paper Series D can be used for (1) construction of public works, (2) the purchase of automobiles, equipment and machinery, including computers, materials and supplies for the operation of the County’s precincts and departments (3) Professional services, including services provided by engineers, architects, attorneys, auditors, financial advisors, and fiscal agents, in connection with the contractual obligations described in (1) and (2).
Commercial Paper is being requested for the Building Consolidation project and is expected to be repaid within the next three fiscal years either through bonds, budgetary means or pay-as-you-go sources. This is for approval for allocation of commercial paper for a previously approved project within the previously authorized amount.
HB 1869 compliance confirmed by: Michael James, Senior Assistant County Attorney, August 29, 2022.
Expected Impact:
This CP funding will allow for network and security renovations as well as the design for the building renovations.
Alternative Options:
No alternatives have been identified for this project.
Alignment with Goal(s):
_ Justice and Safety
_ Economic Opportunity
_ Housing
_ Public Health
_ Transportation
_ Flooding
_ Environment
X Governance and Customer Service
Prior Court Action (if any):
|
Date |
Agenda Item # |
Action Taken |
|
01/05/2021 |
IV 1(b) |
$300,000 authorization |
|
01/29/2021 |
4i(1) |
$300,000 CP allocation |
|
05/25/2021 |
21-2491 |
$61.7M authorization |
|
06/08/2021 |
21-2772 |
$29.6M CP allocation |
|
9/14/2021 |
30 |
$11.51M CP allocation |
|
9/27/2022 |
20 |
$5M CP allocation |
|
2/21/2023 |
23-1095 |
Request for approval of CP funding for $1,750,000. |
|
6/27/2023 |
23-3565 |
Request for approval of CP funding for $2M |
|
10/10/2023 |
23-5663 |
Request for approval of CP funding for $5M |
Location:
Address (if applicable): Countywide
Precinct(s): Countywide
|
Fiscal and Personnel Summary |
|
Service Name |
Building Consolidation |
|
|
|
Current Fiscal Year Cost |
Annual Fiscal Cost |
|
|
Labor |
Non-Labor |
Total |
Recurring Expenses |
|
Funding Sources |
|
|
Existing Budget |
|
|
|
|
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Total Current Budget |
$ |
$ |
$ |
$ |
|
Additional Budget Request (Requires Fiscal Review Request Form) |
|
|
Commercial Paper |
$ |
$6,840,000 |
$6,840,000 |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Total Additional Budget Request |
$ |
$6,840,000 |
$6,840,000 |
$ |
|
Total Funding Request |
$ |
$6,840,000 |
$6,840,000 |
$ |
|
Personnel (Fill out section only if requesting new PCNs) |
|
|
Current Position Count for Service |
- |
- |
- |
- |
|
Additional Positions Request |
- |
- |
- |
- |
|
Total Personnel |
- |
- |
- |
- |
Anticipated Court Date: June 4, 2024
Anticipated Implementation Date (if different from Court date):
Emergency/Disaster Recovery Note: Not an emergency, disaster, or COVID-19 related item
Contact(s) name, title, department: Amy Perez, Deputy Executive Director, Office of Management and Budget
Attachments (if applicable): N/A