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City outlines $93.35 million Measure FP plan; commission names reviewer for financing team
Summary
Staff presented a high-level implementation plan for Measure FP, a $93.35 million general obligation bond to replace two fire stations and the main police station; the commission selected a designee to serve on panels that will review the city’s financing team.
City staff presented a high-level timeline and staffing plan Jan. 9 for implementing Measure FP, a general obligation bond approved by Redondo Beach voters to fund public safety facility projects.
Director of Finance Stephanie Meyer summarized immediate next steps: issue a competitive RFQ/RFP for a financial adviser to act as the city’s fiduciary in structuring and managing the bond; select bond counsel and disclosure counsel; engage construction- or project-management advisers; evaluate sequencing of work and potential temporary facilities during construction; and create a bond oversight committee to monitor expenditures against the…
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