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Council advances West Street undergrounding to ballot as costs fall; asks finance committee to review bond options
Summary
Laguna Beach — City staff told the council on July 22 that recent updates cut estimated construction and financing costs for the proposed West Street Underground Utility Assessment District by about $1 million, and the council opened the public meeting for comments as ballots were prepared for property owners.
Laguna Beach — City staff told the council on July 22 that recent updates cut estimated construction and financing costs for the proposed West Street Underground Utility Assessment District by about $1 million, and the council opened the public meeting for comments as ballots were prepared for property owners.
The city’s capital program manager said San Diego Gas & Electric’s competitive rebid trimmed SDG&E’s portion and that financing estimates fell about $250,000, yielding lower parcel assessments than previously circulated. Staff said assessment ballots will be mailed to affected property owners this week and will be opened and tallied publicly at a certified ballot hearing on Sept. 23; if the vote is successful, bond sale is currently planned for December and…
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