Title
Adoption of Resolution Determining that the Public Interest and Necessity Demand the Acquisition, Construction and Improvement of Municipal Improvement Projects Constituting Public Infrastructure of the City, and their Financing Through the Issuance of General Obligation Bonds; [Requires four affirmative votes] and
Introduction of Uncodified Ordinance Ordering the Submission of a Proposition Incurring Bonded Indebtedness to the Qualified Voters of the City of Alameda at the General Municipal Election to Be Held on November 5, 2024, for the Purpose of Financing the Cost of the Acquisition, Construction and Improvement of Certain Municipal Improvement Projects Constituting Public Infrastructure of the City. [Requires four affirmative votes]
This action is exempt from review under the California Environmental Quality Act (CEQA) because it is not a project as defined by the CEQA Guidelines, Section 15378 (b) (4). (City Manager 10021030)
Body
To: Honorable Mayor and Members of the City Council
From: Jennifer Ott, City Manager
EXECUTIVE SUMMARY
The City of Alameda (City) has identified nearly $800 million in deferred maintenance in public infrastructure citywide and is faced with climate-related challenges such as protecting our infrastructure and facilities from natural disasters, flooding, rising sea levels, erosion, winds, and earthquakes. As an island City, Alameda is especially vulnerable in areas on the west end near the tubes and on Bay Farm Island. The City has been careful with its maintenance dollars, but it's not enough to address these critical needs.
The City's adopted Strategic Plan includes exploring a general obligation bond or other revenue measure to fund deferred maintenance and new infrastructure needs. Considering the City's significant needs, staff recommends placing a $150 million general obligation bond (sometimes referred to as an infrastructure bond or GO bond) on the November 5, 2024 ballot for voters to have the opportunity to d...
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