RECOMMENDATION(S):
ALLOCATE $125,000 from the Livable Communities Trust (District IV portion) to the Garden Park Apartments Community (GPAC) in Pleasant Hill and DIRECT the Director of the Department of Conservation and Development to incorporate the terms and conditions of the funds into a Revocable Grant Agreement between the County and GPAC for the project.
FISCAL IMPACT:
No General Fund impact. Funds in the amount of $125,000 are from the District IV allocation of deposits into the Livable Communities Trust. On December 3, 2013, the Board of Supervisors determined that revenue from the Fund should be spent equally among supervisorial districts. At build-out of the development projects contributing revenue to the Fund, deposits to the Fund will total $8,448,000. As of August 31, 2017 the fund balance was $7,706,905. The account has earned over $400,000 in interest to date. There have been $299,427 in expenditures. The following expenditures have been approved by the Board of Supervisors:
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