Title
A Resolution of the City of Coral Gables, Florida amending and ratifying projects in the Neighborhood Renaissance Program; providing certain other matters in connection therewith; authorizing other required actions and providing an effective date.
Body
The City Commission of the City of Coral Gables, Florida authorized a loan from the Sunshine State Governmental Financing Commission (the “SSGFC”), evidenced by a loan agreement, for the purpose of financing the City’s capital improvements known as the “Neighborhood Renaissance Program”, as described in such loan agreement pursuant to Resolution No. 2011-139 adopted on June 7, 2011 and in Resolution No. 2011-70 adopted on April 26, 2011. On May 22, 2012 the City authorized a loan from the SSGFC, evidenced by a loan agreement, for the purpose of refinancing the City’s capital improvements known as the “Neighborhood Renaissance Program”, pursuant to Resolution No. 2012-101.
The City now wants to amend the existing Neighborhood Renaissance Program (NRP) to allow loan proceeds to be used for a broader spectrum of neighborhood enhancement projects, as well as to ratify revised project funding already included in the FY 2016 - 2020 Capital Improvement Plan.
It is recommended that the following projects be expanded to include various locations citywide instead of the current location specific scope:
· Development of Two Passive Parks
· Beautification of Street Intersections
· Entrance Way & Fountain Restoration
· Citywide Landscaping Improvements
· City-wide Street Resurfacing, Sidewalk Repair/Replacement and Traffic Calming
It is recommended that the scope and description of the following projects be expanded to allow additional neighborhood enhancements:
· Citywide Landscaping Improvements - to include all types of landscaping and irrigation systems; not just the replacement and planting of additional trees
· City-wide Street Resurfacing, Sidewalk Repair/Replacement and Traffic Calming - to include sid...
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