City Council

(15) 14­1174­S101 CD 3 MOTION (BLUMENFIELD ­ DE LEON) relative to amending the prior Council action of February 7, 2024, Council file No. (CF) 14­1174­S101, regarding funding for the Reseda River Loop Greenway Project, and amending the Council action of February 9, 2022, regarding funding for the Canoga Park Arts Lab Project in Council District (CD) 3. Recommendation for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR: AMEND the Council action of February 7, 2024, relative to amending the Council action of March 26, 2019 regarding funding for the Reseda River Loop Greenway Project, and amending the Council action of February 9, 2022 regarding funding for the Canoga Park Arts Lab Project in CD 3 (CF 14­1174­S101), to correct funding sources and budget amounts as follows: 1. REDUCE the amount of taxable CRA/LA Excess Non­Housing Bond Proceeds from the Reseda River Loop Greenway Project (CF 14­1174­S48) by $533,406 for a new approved budget in the amount of $4,116,594, and REVERT $533,406 to its original source. 2. APPROVE the use of $533,406 in taxable CRA/LA Excess Non­ Housing Bond Proceeds available to CD 3 from the Reseda/Canoga Park Redevelopment Project Area to the Canoga Tuesday - May Park Stage Arts21, Lab2024 - (CF 14­1174­S22) for Project PAGE 13approved a new budget in the amount of $1,059,489.59. 1. REDUCE the amount of taxable CRA/LA Excess Non­Housing Bond Proceeds from the Reseda River Loop Greenway Project (CF 14­1174­S48) by $533,406 for a new approved budget in the amount of $4,116,594, and REVERT $533,406 to its original source. 2. APPROVE the use of $533,406 in taxable CRA/LA Excess Non­ Housing Bond Proceeds available to CD 3 from the Reseda/Canoga Park Redevelopment Project Area to the Canoga Park Stage Arts Lab Project (CF 14­1174­S22) for a new approved budget in the amount of $1,059,489.59.