Board of Public Works

(1)\nBPW­2024­0039\nFINANCIAL STATUS REPORT – PUBLIC WORKS TRUST FUND NO. 834 – FISCAL\nYEAR END JUNE 30, 2023\nPRESENTATION\nAGENDA ITEM(S)\nEXECUTIVE OFFICES\n(1)\nBPW­2024­0039\nFINANCIAL STATUS REPORT – PUBLIC WORKS TRUST FUND NO. 834 – FISCAL\nYEAR END JUNE 30, 2023\nRecommending the Board:\nThat the Board of Public Works, subject to the Los Angeles City Council and\nMayor approval:\n1. APPROVE the annual Public Works Trust Fund (PWTF) Number 834\nFinancial Status Report for Fiscal Year End (FYE) June 30, 2023;\n2. FORWARD report to the Mayor and City Council requesting to receive and\nfile the PWTF Financial Status Report for FYE June 30, 2023;\n3. AMEND the existing loan approval process (Attachment G) to include the\nfollowing: sunset loan approval provision that would terminate a PWTF loan\napproval at 365 days from the City Council approved date when any loan\nproceeds have not been distributed for its approved purpose to allow other\nshovel­ready projects in need of temporary front funding to start construction,\nincluding a moratorium provision to disallow loan re­application\nconsideration for the same project within of 180 days of loan approval\nforfeiture; and\n4. AUTHORIZE the Board of Public Works, Executive Officer, or designee, to\nmake any technical corrections or accounting updates to the\nrecommendations above to effectuate the intent of the Mayor and City\nCouncil.\nORAL REPORT(S)