City Council

(14) 14­1174­S22 CD 3 MOTION (BLUMENFIELD ­ DE LEON) relative to amending the prior Council action of February 9, 2022, Council file No. (CF) 14­1174­S22, regarding the use of taxable Community Redevelopment Agency/Los Angeles (CRA/LA) Excess Non­Housing Bond Proceeds available to Council District Three (CD 3) from the Reseda/Canoga Park Redevelopment Project Area for the Madrid Theater Canoga Park Cultural Arts Hub Project and the Canoga Park Stage Arts Lab Project. Recommendation for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR: AMEND the Council action of February 9, 2022, relative to amending Council actions of November 16, 2018 and October 30, 2019 regarding the use of taxable CRA/LA Excess Non­Housing Bond Proceeds available to CD 3 from the Reseda/Canoga Park Redevelopment Project Area for the Madrid Theater Canoga Park Cultural Arts Hub Project and Tuesday the Canoga Park- May 21, 2024 Stage - Arts Lab PAGE 12to correct Project (CF 14­1174­S2), Arts Hub Project and the Canoga Park Stage Arts Lab Project. Recommendation for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR: AMEND the Council action of February 9, 2022, relative to amending Council actions of November 16, 2018 and October 30, 2019 regarding the use of taxable CRA/LA Excess Non­Housing Bond Proceeds available to CD 3 from the Reseda/Canoga Park Redevelopment Project Area for the Madrid Theater Canoga Park Cultural Arts Hub Project and the Canoga Park Stage Arts Lab Project (CF 14­1174­S2), to correct funding sources and budget amounts as follows: 1. REVERT $90,619.59 in tax­exempt CRA/LA Excess Non­Housing Bond Proceeds from the Madrid Theater Canoga Park Cultural Arts Hub Project (CF 14­1174­S22) to its original source. 2. APPROVE $90,619.59 in tax­exempt CRA/LA Excess Non­Housing Bond Proceeds available to Council District 3 from the Reseda/Canoga Park Redevelopment Project Area to Canoga Park Stage Arts Lab Project (CF 14­1175­S22) for a new approved budget in the amount of $526,083.59.