1 CITY OF ALAMEDA RESOLUTION NO. _____
AMENDING THE FISCAL YEAR 202 5-2026 BUDGET BY
INCREASING AUTHORIZED EXPENDITURES IN CAPITAL
IMPROVEMENT PROJECT C52500 BY $2,657,109, TRANSFERRING
$855,729 FROM ALAMEDA RECREATION AND PARKS
DEVELOPMENT IMPACT FEE TO C52500 , TRANSFERRING
$301,380 FROM GENERAL FUND TO C52500 , AND GRANTING
AUTHORITY FOR THE CITY MANAGER TO SIGN A PROMISSORY
NOTE BETWEEN THE SEWER SERVICES FUND AND THE CAPITAL
IMPROVEMENT FUND IN THE AMOUNT OF $1,500,000
WHEREAS, on June 20, 2023, the City Council did adopt a budget representing the financial plan for conducting the affairs of the City of Alameda for the Fiscal Year beginning July 1, 2023 and ending June 30, 2024; and
WHEREAS, The Fiscal Year 23/24 budget allocated $5,000,000 to Capital Improvement Project (CIP) C52500; and
WHEREAS, The total project cost for Estuary Park Phase II (C52500) has increased from $5,000,000 originally budgeted in Fiscal Year 23/24 to $7,6 57,109 in Fiscal Year 25/26, causing a budget shortfall of $2,657,109; and
WHEREAS, $855,729 is currently available in Al ameda Recreation and Parks Development Impact Fee (Park DIF) Fund 306 and accessible to transfer to C52500; and
WHEREAS, $301,380 is currently available in excess Alameda Recreation and Park use deposits (General Fund 100, Object 23280) and accessible to transfer to C52500; and
WHEREAS, Staff proposes a loan from the Sewer Services Fund (Fund 501) to C52500 in the amount of $1,500,000, paid by Park DIF revenues evenly over a ten-year period at a simple interest rate of four percent with the promissory note attached to the item; and
WHEREAS, the Council has considered the report and recommendations of the City Manager on the budget amendments and has determined that the budget amendments are both fair and appropriate; and
WHEREAS, total proposed changes are summarized in the following table.
C52500 Estuary Park Amount
Transfer to C52500 from Park DIF Fund 306 $855,729
Transfer to C52500 from excess park use deposits (Fund 100) $301,380 Transfer to C52500 from Sewer Services Fund 501 $1,500,000 Total to C52500 $2,657,109
2 NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Alameda amends the Fiscal Year 2025-2026 Budget to increase authorized expenditures in the Estuary Park Phase II Project (C52500) by $2,657,109, transfer $855,729 from Park DIF to C52500, transfer $301,380 from General Fund to C52500, and grant City Manager or his/her designee authority to sign promissory note between Sewer Services Fund 501 and Capital Improvement Fund 310 in the amount of $1,500,000.
* * * * *
I, the undersigned, hereby certify that the foregoing Resolution was duly and regularly adopted and passed by the Council of the City of Alameda in a regular meeting assembled on the 21st day of October 2025, by the following vote to wit:
AYES:
NOES:
ABSENT:
ABSTENTIONS:
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the seal of said City this 22nd day of October 2025.
_____________________
Lara Weisiger, City Clerk
City of Alameda
APPROVED AS TO FORM:
______________________
Yibin Shen, City Attorney
City of Alameda