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): MF0AD
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 Nettleton, Coffee Pot Building & Surface Lot Demolition project in the amount of $2,185,000 for a total of $5,685,000.
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 Nettleton, Coffee Pot Building & Surface Lot Demolition 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, Special Assistant County Attorney, September 7, 2022.
Expected Impact:
The Lomas Nettleton, Coffee Pot Building & Surface Lot Demolition project includes the demolition and removal of the Coffee Pot Building and Lomas Nettleton Parking garage within the downtown city block bordered by San Jacinto, Franklin, Commerce and Fannin streets.
Alternative Options:
A Structural evaluation was done on the existing Coffee Pot building, and there appears to be a significant amount of structural concerns that recommend that employees/ pedestrians be relocated away from the area with the floor jacks and wooden beams. Further investigation would need to be conducted to determine necessary repair methods to restore the safety of the existing structure which could lead to a more costly repairs if the existing building is to remain.
Alignment with Goal(s):
_ Justice and Safety
_ Economic Opportunity
_ Housing
X Public Health
_ Transportation
_ Flooding
_ Environment
X Governance and Customer Service
Prior Court Action (if any):
|
Date |
Agenda Item # |
Action Taken |
|
5/12/2015 |
1a2.c.3. |
Professional Engineering Services to develop a project PS&E package for the construction of a surface parking lot and demolition & design of the Lomas Nettleton Garage and Coffee Pot Building. |
|
4/10/2018 |
4.e.2 |
Request for approval of additional commercial paper funding for the Lomas Nettleton garage demolition project in the amount of $2 million for a total authorized amount of $3.5 million. |
|
10/18/2022 |
119 |
Project authorization of $2,181,590; CP allocation of $2,185,000. |
Location:
Address (if applicable): 1117 Franklin
Precinct(s): Precinct 1
|
Fiscal and Personnel Summary |
|
Service Name |
Operational Support |
|
|
FY 23 |
FY 24 |
Next 3 FYs |
|
Incremental Expenditures (do NOT write values in thousands or millions) |
|
Labor Expenditures |
$ |
$ |
$ |
|
Non-Labor Expenditures |
$2,185,000 |
$ |
$ |
|
Total Incremental Expenditures |
$2,185,000 |
$ |
$ |
|
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 |
$2,185,000 |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
|
Total Additional Budget Requested |
$2,185,000 |
$ |
$ |
|
Total Funding Sources |
$2,185,000 |
$ |
$ |
|
Personnel (Fill out section only if requesting new PCNs) |
|
Current Position Count for Service |
- |
- |
- |
|
Additional Positions Requested |
- |
- |
- |
|
Total Personnel |
- |
- |
- |
Anticipated Court Date: January 10, 2023
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