Title
a. Receive a presentation on options for financing for building removal on the former Fort Ord;
b. Adopt a resolution to authorize and direct the Auditor-Controller to amend FY 2019-20 Resource Management Agency Adopted Budget, Fund 001, Appropriation Unit RMA013, to increase appropriations by $25,000 to be used for specialized bond counsel services, financed by an operating transfer from General Fund Contingencies, Fund 001, Appropriation Unit CAO020, of $25,000 (4/5th vote required) and authorize County Counsel to retain specialized bond counsel services in an amount not to exceed $25,000; and
c. Provide direction to staff.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Receive a presentation on options for financing for building removal on the former Fort Ord;
b. Adopt a resolution to authorize and direct the Auditor-Controller to amend FY 2019-20 Resource Management Agency Adopted Budget, Fund 001, Appropriation Unit RMA013, to increase appropriations by $25,000 to be used for specialized bond counsel services, financed by an operating transfer from General Fund Contingencies, Fund 001, Appropriation Unit CAO020, of $25,000 (4/5th vote required) and authorize County Counsel to retain specialized bond counsel services in an amount not to exceed $25,000; and
c. Provide direction to staff.
SUMMARY/DISCUSSION:
At the October 8, 2019 Board of Supervisors meeting, staff presented an update regarding the proposal by the Fort Ord Reuse Authority (FORA) to issue a bond for purposes of removing buildings on the former Fort Ord. At that meeting, the Board of Supervisors authorized a Standard Agreement with Fieldman, Rolapp, & Associates (Fieldman) for a not-to-exceed-amount of $25,000 for financial consulting services relating to FORA's proposed bond issuance and authorized expansion of the scope of work to provide preliminary analysis of financing options for removing buildings in the unincorporated area of the County on the...
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