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`prior to Phase I, the City received funding to complete the <br /> following segments: <br /> ¦ St. Andrews Place to McFadden Avenue <br /> ¦ Elm Street to Memory Lane <br /> ¦ Pine to Third Street <br /> • Current Funding Commitment from OCTA <br /> o $125 million to fund with Gas Tax for Phases I and II <br /> o $100 million to collaboratively seek additional funding for Phases <br /> III and IV (Local Funds, State Grants, or Federal Appropriations) <br /> for a total of $225 million <br /> • Status of OCTA's Project Funding <br /> Phase Limits Cost Received Remaining <br /> Millions to Date Millions <br /> Millions <br /> Phase I McFadden to 60 52 8 <br /> Pine <br /> Phase II Third Street to 47 11 37 <br /> Civic Center <br /> Drive <br /> Total 107 63 45 <br /> • Immediate Fiscal Impact of losing Bristol Project funding <br /> o Phase I $10.3 million <br /> Contractors profit <br /> Payment for material purchased <br /> Restore street to a safe condition <br /> Maintain vacant lots <br /> Restart project at a later date <br /> Loss of jobs (200) <br /> o Phase II $5.5 million <br /> Rescind contract to acquire three properties <br /> Legal and consultant costs <br /> Maintain vacant lots <br /> Restart the project <br /> • Council discussion ensued. <br /> COMMENTS <br /> 90A CITY MANAGER'S COMMENTS -None <br /> 90B CITY COUNCILMEMBER COMMENTS <br /> Councilmember Benavides <br /> • Commented on the recent California Endowment meeting he attended; <br /> • Looks forward to creative alternatives for the Station District area <br /> project; and <br /> • Staff to return to a future Work Study Session with the Youth and <br /> Family Master plan for discussion. <br /> <br /> CITY COUNCIL MINUTES 287 NOVEMBER 16, 2009 <br /> 10A-10 <br /> <br />