Page 336 - FY 2021-22 Blue Book Volume 2

CTIEP – 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 $104,756,082 at an approximate 5.5 percent interest rate over 20 years.
The total estimated debt service is $175,300,082, including interest of approximately $70,544,000. During the life
of the bonds, the estimated average annual debt service is $8,765,000 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* 2021-22 AMOUNT

1 Asphalt Plant No. I (Phase II) 25th and Harriet Site D $ 1,200,000
Improvements

Funding is provided to complete design and fund bid and award activities for the installation of an impactor, screener,
and utility connections.

1 Bridge Improvement Program (BIP) - Program C $ 400,000
Contingency

Funding is provided as a contingency for the BIP. Funding may be used towards eligible staff costs or to cash flow
other programmatic expenditures pending federal or state reimbursement.

1, 3 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, 3 Capital Program - Bureau of Street Services C $ 750,000

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
the use of this funding to address the most critical safety hazards and regulatory compliance.

1, 3 Capital Program - Figueroa Plaza Buildings C $ 500,000

Funding is provided for capital repairs and improvements at the Figueroa Plaza Buildings to safeguard the City’s
investment in these facilities and to provide for the health, safety, and well-being of the building's occupants and
visiting members of the public.

1, 3 Capital Program - Public Works Building C $ 1,100,000

Funding is provided for capital repairs and improvements at the Public Works Building to safeguard the City’s
investment in this facility and to provide for the health, safety, and well-being of the building's occupants and visiting
members of the public.

1, 3 Capital Program - Van Nuys Civic Center C $ 225,000

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, including the Marvin Braude Building.

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