City Council

12.\nAmendment to FY 2025-26 Capital Improvement Program (CIP) Budget; Approval of\nAgreement and Allocation for Fox Theater Improvement Program; and Allocation of\nPomona Development Accelerator Fund\nIt is recommended that the City Council take the following actions:\n1. Adopt the following Resolution (Attachment No. 1):\nRESOLUTION NO. 2026-23 -- A RESOLUTION OF THE CITY COUNCIL OF THE\nCITY OF POMONA, CALIFORNIA, TO AMEND THE FY 2025-26 CAPITAL\nIMPROVEMENT\nPROGRAM\n(CIP)\nBUDGET\nBY\nCLOSING\nWORKTAG:\n73368-DOWNTOWN PARKING STRUCTURES, RELEASING THE REMAINING\nSERIES BI (AW) $1,416,248 AND SERIES BI (AX/AI) $12,440,004 BOND\nPROCEEDS\nTOTALING\n$13,856,252;\nCREATING\nWORKTAG:\nPRJ-00001 - DOWNTOWN POMONA COMMERCIAL\nIMPROVEMENT PROGRAM AND APPROPRIATING A TOTAL OF $13,856,252 OF\nWHICH $1,416,248 IS FROM SERIES BI (AW) AND $12,440,004 IS FROM SERIES\nBI (AX/AI) OF AVAILABLE BOND PROCEEDS\n2. Approve Agreement for Fox Theater Improvement Program (Attachment No. 2) and\nAllocating $600,000 from the Downtown Pomona Commercial Improvement Program\nCIP [Series BI (AW)].\n3. Approve Allocating $5,000,000 for the Pomona Development Accelerator Fund\n(PDAF) (Attachment No. 3) from the Downtown Pomona Commercial Improvement\nProgram CIP [Series BI (AX/AI)].\nStaff Report