City Council

(9) 23-1320 CIVIL RIGHTS, EQUITY, IMMIGRATION, AGING AND DISABILITY COMMITTEE REPORT relative to Reserve Fund loan requests for the Proposition 47 Cohort 3 Grant and the California Department of Transportation Grant (Caltrans). Recommendations for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR: APPROVE and REQUEST the Controller to process, a Reserve Fund loan in the amount of $400,000 for cash flow purposes related to the Proposition (Prop) 47 Cohort 3 Grant, to be repaid upon receipt of grant funds. APPROVE and REQUEST the Controller to process a Reserve Fund loan in the amount of $560,000 for cash flow purposes related to the Caltrans Cooperative Agreement grant, to be repaid upon receipt of grant funds. AUTHORIZE the Mayor, or designee, to prepare Controller instructions and/or make technical adjustments that may be required to implement the actions approved by the Mayor and Council on this matter, subject to the approval of the City Administrative Officer (CAO), and authorize the Controller to implement the instructions. Fiscal Impact Statement: The CAO reports that the proposed Reserve Fund loans in the amounts of $400,000 for Project Impact and $560,000 for the New Roads to Second Chances Program will be used to address cash flow issues and will be repaid upon reimbursement of Prop 47 Cohort 3 Grant funds from the California Board of State and Community Corrections and New Roads Cooperative Agreement grant funds from Caltrans. Financial Policies Statement: The CAO reports that the recommendations in the report are in compliance with the City’s Financial Policies in that eligible grant activities will be funded by grant funds.