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Baldwin Park council approves $6 million internal transfer from Measure BP to cover settlement repayment plan
Summary
Council approved a plan to pay a $19 million settlement (city share $9.35 million) up front, replenishing reserves with a $6 million internal transfer from Measure BP and a multi‑year repayment schedule; vote passed 5–0.
City finance staff presented a repayment plan to meet a recently finalized settlement that totals $19,000,000, with the city’s share estimated at $9,350,000. Staff recommended paying the city portion up front from the general fund reserve and replenishing the reserve with an internal transfer of $6,000,000 from Measure BP, to be repaid over subsequent years from Measure BP receipts.
Finance staff said paying the full city share immediately would save approximately $259,000 in interest compared with a multi‑year installment handled from the general fund. Rose Tam said the transfer plan preserves the city’s minimum reserve requirements and supports continued investment‑grade credit ratings. The Measure BP oversight committee reviewed and recommended the transfer and repayment plan.
Council debated the use of Measure BP funds—originally intended for community events and public improvements—and several members emphasized the transfer is a temporary internal loan that will be repaid. Council approved the transfer and repayment plan by a 5–0 vote.
