City Council

(7) 14-1174-S99 CD 7 TRADE, TRAVEL AND TOURISM COMMITTEE REPORT relative to approving the reappropriation of CRA/LA Excess Non-Housing Bond Proceeds available to Council District 7 from the Pacoima/Panorama City Redevelopment Project Area towards graffiti abatement services and improvements. Recommendations for Council action, pursuant to Motion (Rodriguez - Krekorian), SUBJECT TO THE APPROVAL OF THE MAYOR: AMEND the Council action of June 21, 2016, relative to approving the use of $162,078 in tax-exempt CRA/LA Excess Non-Housing Bond Proceeds (EBP) available to Council District Seven (CD7) from the Pacoima/Panorama City Redevelopment Project Area toward the Great Streets – Van Nuys Road Diet project (Council file No. 14-1174-s7) to reduce the approved amount to $88,232 and that the balance of $73,846 be reverted to its original source. AMEND the Council action of February 13, 2019, relative to approving the use of up to $3.3 million in tax-exempt CRA/LA EBP available to CD 7 from the Pacoima/Panorama City Redevelopment Project Area toward the acquisition of real property located at 13460 Van Nuys Boulevard in Pacoima to reduce the approved amount to $3,207,626 and that the balance of $92,374 be reverted to its original source. AMEND the Council action of June 19, 2019, relative to approving the use of up to $500,000 in taxable and tax-exempt CRA/LA EBP available to CD 7 from the Pacoima/Panorama City Redevelopment Project Area toward the Graffiti Abatement Project to increase the approved amount to $666,220 by adding $166,220 of tax-exempt CRA/LA EBP available to CD 7 from the Pacoima/Panorama City Redevelopment Project Area toward eligible uses previously approved by Council. INSTRUCT the Economic and Workforce Development Department, as the administrator of the CRA/LA EBP Program, take all actions necessary to document and effectuate the changes in the budgets noted above. AUTHORIZE the Bureau of Street Services and the Department of General Services to prepare Controller instructions to transfer funds related to this matter, make technical corrections necessary consistent with Council’s actions on this matter, and authorize the Controller to implement these instructions. Fiscal Impact Statement: Neither the Chief Legislative Analyst nor the City Administrative Officer has completed a financial analysis of this report.