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Placentia council green-lights $150,000 to finish Old Town streetscape design, delays bond until funds accumulate
Summary
After hours of testimony and financial briefings, the council authorized $150,000 to complete the Old Town Streetscape master plan and directed staff to delay bond financing until the EIFD has accumulated sufficient tax-increment or other funds to provide the $1 million upfront city contribution. The motion passed 4–0 with one not voting.
The Placentia City Council voted May 6 to fund the final design work for the Old Town Streetscape project and pause issuance of bonds for construction until the Enhanced Infrastructure Financing District (EIFD) has accumulated sufficient incremental tax revenues or other identified funding to meet an anticipated $1,000,000 city contribution.
Council approved a motion to allocate $150,000 to finish design documents — including adjustments to accommodate fire apparatus turning radii — and to advertise construction bids with alternates so the core streetscape can be delivered within a $10,000,000 construction cost target. The motion passed on a roll-call vote of four in favor, one not voting.
The decision followed a lengthy study session in which city staff, the Measure U Citizens Oversight…
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