Ord 1974-022 - Laserfiche WebLink

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I I I 138-c 2. CITY The City of San Marcos agrees, pUrsuant to and within the procedures required by all applicable State laws, City Charter and ordinances, to provide looal grants-in-aid and to cooperate otherwise in the undertakings, carrying out and completion of said Neighborhood Development prog:ram in accordance with the approved Urban Renewal Plan therefor, in all respects including, but not limited to, the following; (a) The City obligates itself to take all necessary steps to appropriate properly and to contribute to the Agency any monies which may accrue or come into its hands from any source which shall be proposed by the City as a cash con- tribution to the Project, if any, such monies to be deposited in the Project expenditures account maintained by the Agency in connection with the Neighborhood Development program. (b) It is understood that the City of San MarCOS is obligated to the payment of 1/4 of the Net Cost incurred in connection with the undertaking, carrying out, and completion of said Neighborhood Develop~ent program. In this connection the City p:roposes non-cash local grant- in-aid credit to be allowed for the following public improvements heretofore constructed within the Neighborhood Development Program, to-wit: TO PROVIDE THE FOLLOWING PROJECT IMPROVEMENTS AND FACILITIES AT THE ESTIMATED COSTS SHOWN FOR ANTICIP~TED NON-CASH LOCAL GRANTS-IN-AID CREDIT: Purchase of proposed public lands in the river portion of the Neighborhood Develop~ent program area, estimated at $ 35,000.00. City has purchased during 1972-73, the following disposition parcels f:rom Agency for public and semi-public use as set forth in the approved Urban Renewal Plan, as amended, said purchase p:rice based upon two independent fee appraisals and approved by Agency's Board of commissioners and HUD: Disposition Parcels 4-lA and II-lB. The City agrees to construct the following improvements upon said parcels for the estimated costs and by the dates indicated: (I) Construction of a swimming pool and park complex to be completed by August 31, 1974, at an estimated cost of $579,876.55 to be funded in part by a grant by the Department of HUD. Said swimming pool and a po:rtion of the pa:rk complex to be constructed upon Disposition Parcel Il-lB. City agrees to purchase Disposition Parcel lA-2, being mo:re particularly described in Exhibit "A" attached hereto and made a part he:reof, f:rom Agency for public and semi-public use as set forth in the app:roved Urban Renewal Plan, as amended, by November 30, 1974 for $1.30 per square foot, which price is based upon two independent fee appraisals and approved by the Agency's Board and the Department of Housing and Urban Development. ~t closing, City shall receive credit for $10,000.00 previously paid by City and applied to this parcel. City agrees to forth- with establish the si~ing fund to be funded out of general funds so as to comply with this purchase obligation. City agrees to construct a new City Hall at an estimated cost of $390,000.00 by August, 1975, to be located outside the project Area for eligibility as a community wide facility. DemOlition work in the Neighborhood ~velopment Program area, estimated $18,800,00 for 100% credit. 2.