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File Number: 20-479 <br />·Reduce General Fund support for certain projects and transfer unspent funds back to the <br />General Fund; <br />·Swap General Fund money with bond fund money and defer some capital projects; and <br />·Use future Park Development Impact fees for recreation facility improvements. <br />The Committees’ discussion focused on the capital projects presented below. The Committees <br />also discussed the Manor Pool, Street Overlay Rehabilitation, and Street Sealing projects. Since <br />the unspent General Fund balance for Manor Pool is only $23,000 and repair and maintenance of <br />City Streets is one of the community’s highest priorities, staff is not proposing funding reductions <br />from these projects. <br />The proposed adjustments below are based on the ranges recommended by the two <br />Committees. The transfers out to the General Fund total $4.9 million, and the swap of bond funds <br />between capital projects total $2.1 million. See EXHIBIT 1 "Transfers". <br />Boat Harbor Deconstruction <br />Staff proposes to transfer $1.5 million back to the General Fund and fund this project with the <br />proceeds from sale of land to the Shoreline Developer. Land sale is expected to generate $29.0 <br />million and is anticipated to be used for Mulford Marina Branch Library, a shoreline park, City <br />share of street improvements, and cost of reviewing and approving private developments. <br />Storm Water Trash Capture Project <br />Staff proposes to transfer $1.0 million back to the General Fund and defer the project. The <br />General Fund will still need to support this project in the future; however, staff recently confirmed <br />that the compliance requirement has been extended to June 30, 2025. <br />Casa Peralta Improvements <br />Staff proposes to transfer $265,000 back to the General Fund and defer the majority of this <br />project. In addition, staff proposes to transfer $1.1 million of the unspent bond funds to the Boys <br />and Girls Club Pool and $1.0 million to the Farrelly Pool Replacement project. However, <br />approximately $500,000 is needed to repair the roof and protect the building from future <br />deterioration. <br />Boys and Girls Club Pool and Farrelly Pool Replacement <br />Staff proposes to transfer $2.1 million back to the General Fund and replace funding with bond <br />funds from the Casa Peralta project. Depending on the timing of the development project <br />described below and the timing of the pool projects, there is the potential to use development <br />impact fees for these two projects. <br />Alvarado Street Park <br />The City expects to receive approximately $10.0 million in park development fees from the <br />Maximus residential project on Alvarado Street for use on a downtown park likely at the current <br />fire training site. Potentially $2.1 million is available for the Boys and Girls Club Pool and the <br />Farrelly Pool Replacement projects. Because the revenue has not been received, no proposed <br />adjustments are recommended at this point. Should the City decide to use Park Development <br />Impact fees for the pool projects, the bond funds can be transferred back to the Casa Peralta <br />Page 2 City of San Leandro Printed on 10/28/2020 <br />113