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Committee recommends $8M appropriation and $6M interfund loan to finish I‑580 Patterson Pass diverging-diamond project
Summary
The Tracy Finance Committee voted to recommend that City Council appropriate $8 million from the Tracy Infrastructure Master Plan fund and authorize a $6 million, 20‑year interfund loan from general fund reserves at the LAIF rate to close a shortfall on the I‑580/Patterson Pass diverging‑diamond interchange project (CIP 73,147).
The Finance Committee on April 29 recommended that the City Council authorize an $8 million appropriation from the Tracy Infrastructure Master Plan (TIMP) traffic fund to the Interstate 580/Patterson Pass Road–International Parkway diverging‑diamond interchange improvements project (CIP 73,147), and that the Council approve a $6 million interfund loan from general fund reserves to the TIMP fund to be repaid over 20 years at the current Local Agency Investment Fund (LAIF) rate.
Felicia Glendo, the city’s budget officer, told the committee the…
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