Page 388 - FY 2020-21 Blue Book Volume II

CIEP – Municipal Facilities

MICLA-ISSUED FINANCING

Proceeds from the issuance of MICLA lease obligations or other types of debt will be used to finance the projects
listed below. The debt service payments associated with these types of financing will be funded by the City through
an annual appropriation of General Fund or Special Fund monies. The issuance of MICLA debt for the projects
listed below would cause the City to borrow $88,303,034 at an approximate 5.5 percent interest rate over 20 years.
The total estimated debt service is $147,780,000, including interest of approximately $59,477,000. During the life
of the bonds, the estimated average annual debt service is $7,389,000 over 20 years. Actual interest rates may
differ as rates are dependent on market conditions at the time of issuance.

The following Municipal Facilities projects have been proposed for MICLA-issued financing.

CATEGORY PROJECT TITLE ACTIVITY* 2020-21 AMOUNT

3 Alpine Recreation Center Expansion C $ 686,034

Funding is provided to offset a remaining funding shortfall for this Proposition K specified project that is in active
construction.

1 Asphalt Plant I (Phase II) 25th and Harriet Site D $ 1,000,000
Improvements

Funding is provided for pre-design and design activities for the installation of an impactor, screener, and utility
connections.

1 Barnsdall Art Park C $ 500,000

Funding is provided for the restoration, seismic retrofit, and hazardous materials abatement for Residence A
located in Barnsdall Art Park.

1 Building Equipment Lifecycle Replacement C $ 2,500,000

Funding is provided for the lifecycle replacement of aging and obsolete building equipment at the City’s highest
priority sites in order to achieve more efficient operations and associated cost savings.

1 Capital Program - Bureau of Street Services C $ 500,000

Funding is provided to address safety hazards and regulatory compliance issues at yards and shops facilities
operated by the Bureau of Street Services (BSS) as part of a multi-year program. This will enable BSS to prioritize
use of this funding to address the most critical safety hazards and regulatory compliance.

1 Capital Program - El Pueblo C $ 200,000

Funding is provided for capital repairs and infrastructure improvements at El Pueblo de Los Angeles Historical
Monument.

1 Capital Program - Van Nuys Civic Center C $ 225,000
(Formerly Marvin Braude Building)

Funding is provided for capital repairs and infrastructure improvements at Van Nuys City Hall complex, which
serves as a City hub in the Van Nuys area.

1 Capital Program - Zoo C $ 250,000

Funding is provided for capital repairs and infrastructure improvements at the Los Angeles Zoo facilities.

* “PP” indicates preliminary study. “D” indicates design. “C” indicates construction work. “R/W” indicates land or building acquisition.
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