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COUNTY OF SAN MATEO
Inter-Departmental Correspondence
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Department of Public Works
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DATE:
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September 8, 2008
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BOARD MEETING DATE:
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September 30, 2008
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SPECIAL NOTICE/HEARING:
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None
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VOTE REQUIRED:
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Majority
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TO:
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Honorable Board of Supervisors
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FROM:
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James C. Porter, Director of Public Works
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SUBJECT:
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ESTABLISHMENT OF TRUST FUNDS FOR THE LA HONDA LANDSLIDE ASSESSMENT DISTRICT
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RECOMMENDATION:
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Adopt a Resolution authorizing the establishment of two trust funds for the management of finances related to the La Honda Landslide Assessment District.
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VISION ALIGNMENT:
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Commitment: Ensure basic health and safety for all.
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Goal: Maintain and enhance the public safety of all residents and visitors.
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The La Honda Landslide Assessment District was created to reconstruct and strengthen Scenic Drive and surrounding areas following a recent landslide, and to improve the stability of the area supporting that roadway. Funding the district will help mitigate the risk that future landslides could potentially undermine the road and damage properties in the area.
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BACKGROUND:
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On October 30, 2007 the Board adopted Resolution No. 069071, authorizing the Department of Public Works to expend $400,000 from the Road Fund to construct a french drain system on the failed hillsides adjacent to Scenic Drive and to proceed with preparations for the construction of slope stabilization improvements. The Board also authorized a contribution of $250,000 from the General Fund for the construction of improvements on the privately maintained portions of Escondido Drive.
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On April 22, 2008 the Board adopted Resolution No. 069359, authorizing the Director of Public Works to form the La Honda Landslide Assessment District, and to levy the cost of constructing soil stability improvements and reconstructing Scenic Drive as a charge to properties within said District. The Board authorized a contribution of $3,993,967 from the General Fund to support this project.
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In June 2008, the County was awarded $2,170,265 from the California Office of Emergency Assistance to support the work on Upper Scenic Drive related to this project.
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DISCUSSION:
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In order to maintain appropriate accounting of the revenues and expenditures for this project, it is necessary to establish two trust funds – one to account for the State grant, and the other for the remaining funds.
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FISCAL IMPACT:
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The total projected cost of this project is approximately $6,400,000 including the improvements on Escondido Drive. The trust funds are necessary to separately account for the State grant plus accrued interest, the General Funds plus accrued interest, and the contributions from the home owners plus accrued interest. Any balance left over from the project funding will be credited back to the property owners in the district and to the County in proportion to their respective contributions, subject to restrictions on the use of the State funds.
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