City Council

16. Adopt a Resolution to Amend the FY2023-24 Capital Improvement Program (CIP) Budget\nand Approve a Loan Agreement\nIt is recommended that the City Council take the following actions:\n1) Adopt the following resolution:\nRESOLUTION NO. 2024-82 - A RESOLUTION OF THE CITY COUNCIL OF THE\nCITY OF POMONA, CALIFORNIA, AMENDING THE FY2023-24 CAPITAL\nIMPROVEMENT PROGRAM (CIP) BUDGET BY INCREASING REVENUE\nESTIMATES BY $568,500 FROM SOCALREN REVOLVING SAVINGS FUND LOAN\nPROCEEDS AND BY CREATING A NEW PROJECT, “POMONA POLICE\nSTATION/FIRE STATION 181 ENERGY EFFICIENCY UPGRADES,” PROJECT NO.\n428-2590-XXXXX-71119, AND APPROPRIATING THIS $568,500 OF SOCALREN\nREVOLVING SAVINGS FUND LOAN PROCEEDS TO THE PROJECT\n2) Approve a loan agreement between the City of Pomona and the County of Los\nAngeles in the amount of $568,500 for a SoCalREN Revolving Savings Loan;\nand,\n3) Authorize the City Manager to execute a loan agreement on behalf of the City of\nPomona with the County of Los Angeles to fund energy efficient equipment\nreplacements, contingent on City Attorney review.