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 $5,000,000 for a total CP funding of $46,410,000.
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.
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) |
Authorized project for $300,000. |
|
01/29/2021 |
4i(1) |
Allocated CP funding for $300,000. |
|
05/25/2021 |
21-2491 |
Authorized project for $61,700,000. |
|
06/08/2021 |
21-2772 |
Allocated funding for $29,600,000. |
|
9/14/2021 |
30 |
Allocated funding for $11,510,000. |
Location:
Address (if applicable): Countywide
Precinct(s): Countywide
|
Fiscal and Personnel Summary |
|
Service Name |
Building Consolidation |
|
|
SFY 22 |
FY 23 |
Next 3 FYs |
|
Incremental Expenditures (do NOT write values in thousands or millions) |
|
Labor Expenditures |
$ |
$ |
$ |
|
Non-Labor Expenditures |
$5,000,000 |
$ |
$ |
|
Total Incremental Expenditures |
$5,000,000 |
$ |
$ |
|
Funding Sources (do NOT write values in thousands or millions) |
|
Existing Budget |
|
Choose an item. |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
|
Total Current Budget |
$ |
$ |
$ |
|
Additional Budget Requested |
|
Commercial Paper |
$5,000,000 |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
|
Total Additional Budget Requested |
$5,000,000 |
$ |
$ |
|
Total Funding Sources |
$5,000,000 |
$ |
$ |
|
Personnel (Fill out section only if requesting new PCNs) |
|
Current Position Count for Service |
- |
- |
- |
|
Additional Positions Requested |
- |
- |
- |
|
Total Personnel |
- |
- |
- |
Anticipated Court Date: September 27, 2022
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