HomeMy WebLinkAbout8264RESOLUTION NO 8264
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDLANDS
ESTABLISHING A POLICY FOR THE EXPENDITURE OF PROCEEDS
FROM THE SALE OF COUNTY OF SAN BERNARDINO ASSESSOR'S
PARCEL NOS 0292-041-08-0000,-38-0000, AND-44-0000
WHEREAS, the sale of approximately 18 acres of landfill and wastewater treatment plant
buffer property was completed on October 1, 2021, and generated $46,050,000 in land sale
proceeds to the City; and
WHEREAS, the City Council desires to direct the return of the original purchase funds,
plus an agreed upon amount representing the incremental increase in the value of those funds to
2021 dollar values, in the amounts of $1,323,885 for the solid waste fund, and $1,323,885 for the
wastewater fund, resulting in a remainder value of the land sale proceeds of $43,402,230; and
WHEREAS, the City Council will consider plans at a future date with regard to the
expenditure of the remainder funds resulting from the land sale proceeds, and
WHEREAS, the City Council intends to continue its practice of sound long-term financial
planning practices, especially in such processes as the Strategic Plan and corresponding initiatives,
NOW, THEREFORE, BE IT RESOLVED by City Council of the City of Redlands as
follows
Section 1. The City Council hereby adopts the following policies with regard to the
disposition of the proceeds of the sale of the buffer property
A. The original funds from the solid waste fund and wastewater fund used to purchase
the parcels, plus an amount to true up those original funds with their equivalent value in 2021
dollars, shall be returned to those respective funds.
B The remainder of the funds for the proceeds of the sale of the parcels shall be
deposited in the General Fund.
C The funds deposited into the General Fund shall be used first to backfill the General
Funds share of expenses related to the purchase of 300 E State Street up to $11,200,000, which
includes repayment of an interfund loan in full to the Water Fund in the amount of $4,500,000,
and any amount thereafter shall be designated reserved for the purpose of strategic planning efforts.
Section 2. This City Council further determines that the approval of this Resolution is
exempt from review under the California Environmental Quality Act ("CEQA") pursuant to
CEQA Guidelines section 15061(b)(3) which provides that CEQA applies only to projects which
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have the potential for causing a significant effect on the environment This City Council finds that
it can be seen with certainty that there is no possibility that the approval of this Resolution may
have a significant effect on the environment
ADOPTED, SIGNED AND APPROVED this 5th day of October, 2021
Paul T Barich, Mayor
ATTEST
nne Donaldson, City Clerk
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I, Jeanne Donaldson, City Clerk of the City of Redlands, hereby certify that the foregoing
resolution was duly adopted by the City Council at a regular meeting thereof held on the 5th day
of October, 2021
AYES
NOES
ABSENT
ABSTAINED None
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Councilmembers Foster, Tejeda, Davis, Guzman -Lowry, Mayor Barich
None
None
e Donaldson, City Clerk