|
Jan
McMillan | 12th Street
At
the August 3 City Council
meeting, City staff
presented several options
for retiring the Del
Mar Shores property
debt and financing other
capital projects. They
asked the Council for
direction as to which
options to pursue or
drop. Options proposed
were:
• Issuing
General Obligation,
Mello-Roos or “Build
America” bonds.
• Forming
an
assessment
district.
• Retiring
the
unpaid
principal
through
the sale
or
long-term
lease
of
City
assets,
such as
the
22,215
square-foot
Balboa
reservoir site,
the
present
City
Hall
site,
numerous
small City-owned
parcels,
or
a
portion
of
the
Shores
site
itself.
• Issuing
a
Request
for
Proposals
to determine
interest
in
siting
an
educational
institution
other than
the
Winston
School
on
the property.
• Selling
any
part
of
the
Shores
site
and issuing
the
RFP
drew
sizeable
opposition
from
the Friends
of
Del
Mar
Parks,
the
sale
because it
would reduce
the
size
of
the
property
to
be obtained
and,under
the
terms
of
the
sale
by the
Del Mar
Union
School
District
to
the
City,
a large
portion
of
any
money
gained
by
a sale
by the
City
would
have
to
be
turned
over to
the District;
the
RFP
because
Winston
has contributed
a large
amount
to
the
ongoing
fundraising campaign
in
the
expectation
of
a long-term
lease.
The
Council elected
to keep
all options
on the
table.
| Neighborhood
meetings will
be held In September
to get citizen
input on these
options. Go to
the City’s
website to learn
when and where these
meeting will be
held. Also take
a careful look at
the proposal on
the first page of
this issue for an
intriguing proposal
from the City’s
Finance Committee. |
|
