TITLE
Recommendation to adopt resolutions making certain findings regarding certain public improvements to Drake Park and the Pacific Electric
Right-of-Way using Central Long Beach Redevelopment Project Area Funds; and
Approve the expenditure of 2005 Redevelopment Agency revenue bond proceeds in the amount of $4,300,000 to be used for the expansion of Drake Park at Loma Vista Avenue and 12th Street, and the Pacific Electric Right-of-Way between Martin Luther King Boulevard and Walnut Avenue in the Central Long Beach Redevelopment Project Area.
(Districts 1,6)
DISCUSSION
On January 18, 2005, the City Council adopted a resolution authorizing the issuance of
revenue bonds in the amount of $199,982,000. Additionally, the City Council approved
a motion requiring that expenditures of bond proceeds for specific projects be brought
before the City Council for approval.
The Central Long Beach Strategic Guide for Development (Strategic Guide) has
identified specific projects within the Central Long Beach Redevelopment Project Area
(Central) that will serve as catalysts for neighborhood revitalization. One of the major
. priorities identified by the community is the development of open space in underserved
neighborhoods within the Project Area.
Though the Strategic Guide identifies areas for new park development, staff has
implemented a strategy to purchase land to expand existing parks in order to address
the immediate need. A total of $4,300,000 of Central Long Beach Project Area bond
proceeds is required to leverage $14,170,000 from other funding sources to support the
following two open space projects:
Drake ParWCesar Chavez Park Greenbelt Expansion (District 1 ) - ($2.500.000)
The Drake ParWCesar Chavez Park Greenbelt Expansion is a proposed open space
development of almost 26 acres linking Drake and Chavez parks along the Los Angeles
River (Exhibit A). The Department of Parks, Recreation and Marine (Parks) has
obtained $9,900,000 from the State of California...
Click here for full text