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FAC:PRCS - Discuss Parks, Recreation and Community Services Pending Infrastructure Projects and Potential Funding.
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Meeting Date: January 12, 2022
Contact Person/Dept: Erica McAdoo/Finance Department
Phone Number: (310) 253-5865
Fiscal Impact: Yes [] No [X] General Fund: Yes [] No [X]
Public Hearing: [] Action Item: [X] Attachments: []
Public Notification: (E-Mail) Meetings and Agendas - Finance Advisory Committee (01/07/2022); (Email) Meetings and Agendas - Parks, Recreation and Community Services Commission (01/07/2022); (Email) Parks, Recreation & Community Service Department Updates (01/07/2022)
Departmental Approval: Onyx Jones, Chief Financial Officer (01/07/2022)
Armando Abrego, PRCS Director (01/07/2022)
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RECOMMENDATION
Staff recommends that the Finance Advisory Committee (FAC) and Parks, Recreation, and Committee Services (PRCS) Commission discuss pending parks, recreation, and community services infrastructure projects and potential funding.
BACKGROUND/DISCUSSION
At the September meeting of the FAC, discussion was held regarding debt financing opportunities for affordable housing projections and recreation improvement projects. The Committee requested a presentation from the City’s financial advisory consultant, Urban Futures Inc. to better understand municipal bonding processes and its potential in use for specified City projects and program. The FAC received a presentation on December 10th and requested to meet jointly with the PRCS Commission to further review and make recommendations.
ATTACHMENTS
1. Financing Options Presentation: FAC Meeting 11-10-21
MOTION
That the FAC and PRCS Commission:
1. Discuss pending parks, recreation, and community services infrastructure projects and potential funding.