City Council

F. APPROPRIATION OF FUNDS TO PAY THE FINAL INVOICE FOR THE\nSOUTHERN CALIFORNIA EDISON (SCE) FACILITIES RELOCATION (RULE\n20B) PER AGREEMENT, IN THE AMOUNT OF $508,778.48\nIn February 2020, City Council approved the Southern California Edison (SCE)\nFacilities Relocation Agreement (Rule 20B) to start constructing the\nunderground overhead electric utility facility on Del Mar Avenue at Valley\nBoulevard. The final invoice is $508,778.48. Funding for this cost is not included\nin the FY 2024-2025 adopted budget. Staff is requesting an appropriation of\n$508,778.48 from the General Fund to account 122-800-15-96-743. Since the\nCity is making the payment for the offsite improvements, there will be less of\nan offset of transient occupancy tax (TOT) in the future to reimburse the\ndeveloper for the offsite improvement cost. In the future, if a loan agreement\nis entered, where the City would loan the funds to the developer and the\ndeveloper would provide the funds to the City to make the payment, then this\npayment may not be viewed as an expenditure but rather a loan receivable.\nPrior to this appropriation, the General Fund was projecting a $209,000 surplus.\nWith this appropriation of $509,000, the General Fund will project a $300,000\ndeficit which will be taken from the General Fund’s unrestricted reserves.\nCalifornia Environmental Quality Act (CEQA) Determination: Not a Project as\ndefined in Section 15378 of the State CEQA Guidelines.\nRecommended Action:\nStaff recommends that the City Council authorize the City Manager to approve\na purchase order in the amount of $508,778.48 to pay the final invoice for the\nSouthern California Edison (SCE) Facilities Relocation (Rule 20B) for the\nunderground project on Del Mar at Valley Boulevard; and approve an\nappropriation of $508,778.48 from the General Fund to account 122-800-15-\n96-743.