Resolution 15350CITY OF ALAMEDA RESOLUTION NO. 15350
INCREASING THE CAPITAL PROJECTS BUDGET SEAPLANE
LAGOON FERRY TERMINAL PROJECT (91814) BY $1,604,676
FROM THE BASE REUSE FUND AND TIDELAND TRUST BUDGETS
FOR FISCAL YEAR 2017-2018
WHEREAS, on June 6, 2017, the City Council did adopt an Operating and Capital
Budget representing the financial plan for conducting the affairs of the City of Alameda
for the Fiscal Year beginning July 1, 2017 and ending June 30, 2018; and
WHEREAS, staff is proposing the revenue and expenditure budgets for Capital
Projects Seaplane Lagoon Ferry Terminal Project be increased by $1,604,676 using
funding as follows: $1.35 million from Base Reuse (819099) Developer Contributions and
$254,676 from Tidelands Trust Fund (216);
WHEREAS, in the event Site A closes on April 9, 2018 or before and upon receipt
of a $10 million promissory note from Alameda Point Partners, increased revenues and
expenditures of $1.35 million from Base Reuse, minus any expenses paid for by the non-
refundable portion, and $254,676 in funding from Tidelands Trust Fund will be reversed
back to the respective funding source and the $10 million will fund the remaining MWDL
contract;
WHEREAS, in the event Site A does not close on April 9, 2018, increased
revenues and expenditures of $1.35 million from Base Reuse, minus any expenses paid
for by the non-refundable portion, and $254,676 in funding from Tidelands Trust Fund will
be reversed back to the respective funding source and then the City will determine
whether to terminate or continue the contract; and
WHEREAS, the City Council has considered the report and recommendation of
the City Manager on this budget amendment and has determined that the budget
amendment is both fair and appropriate; and
WHEREAS, the City Council has given this budget amendment due consideration
as to its projected revenues, anticipated expenditures and available fund balances.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Alameda
that budget amendments to the Capital Improvement Projects Budget for Seaplane
Lagoon Ferry Terminal Project for Fiscal Year 2017-18 Budget is approved, by increasing
revenue and expenditure estimates by $1,604,676.
I, the undersigned, hereby certify that the foregoing Resolution was duly and
regularly adopted and passed by the Council of the City of Alameda in a regular meeting
assembled on the 6t" day of March, 2018, by the following vote to wit:
AYES: Councilmembers Ezzy Ashcraft, Matarrese, Oddie, Vella and
Mayor Spencer — 5.
NOES: None.
ABSENT: None.
ABSTENTIONS: None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the official
seal of said City this 7th day of March, 2018.
Lara Weisiger, City Jerk
City of Alameda
APPROVED AS TO FORM:
Jag§t'C. Kern, City Attorney
City of Alameda