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Laguna Beach holds public meeting on West Street undergrounding; council asks investment committee to vet bond option
Summary
The City of Laguna Beach held a public meeting July 29 on the proposed West Street Underground Utility Assessment District, where staff presented updated cost and financing information and took public comment from residents and neighborhood leaders.
The City of Laguna Beach held a public meeting July 29 on the proposed West Street Underground Utility Assessment District, where staff presented updated cost and financing information and took public comment from residents and neighborhood leaders.
Why it matters: The district would fund bringing overhead utilities underground to reduce wildfire risk and improve reliability. The council's decision on how to sell or carry the bonds will affect annual assessments paid by property owners and the amount the city must advance or administer.
What staff reported: Pierre Sawaya, capital program manager, said Southern California Edison’s latest bidding reduced the utility portion of the project by about…
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