HomeMy WebLinkAboutResolutions 2011-091 N.C.S. 06/06/2011Resolution No. 2011 -091 N.C.S.
of the City of Petaluma, California
AUTHORIZING A LOAN FROM RISK MANAGEMENT RESERVE FUNDS
TO THE PAYRAN UST SITE REMEDIATION PROJECT
WHEREAS, 301 Payran Street, site of a former fire station and underground storage
tank, has had an extensive history of subsurface investigations and remediation work since
approximately 1988. Groundwater sampling and analysis has confirmed that both onsite and
offsite groundwater is impacted with petroleum hydrocarbons; and,
WHEREAS, the City of Petaluma has an obligation to the State Water Resources
Control Board to continue remediation at the 301 Payran Street site; and,
WHEREAS, staff has estimated the cost for the remediation work to be approximately
$600,000; and,
WHEREAS, this work is eligible for reimbursement from the State Cleanup Fund; and,
WHEREAS, due to unpredictable revenue into and expenditures from the State Cleanup
Fund, the timing of the reimbursements cannot be predicted; and,
WHEREAS, the Risk Management Reserve Fund has adequate funds to loan the Payran
UST Remediation Project; and,
WHEREAS, Public Works Staff will have available, at all times, full accounting of the
amount of money loaned from Risk Management Fund and will provide an annual summary.
NOW, THEREFORE, BE IT RESOLVED that the Petaluma City Council:
Authorizes an interest free loan from the Risk Management Fund for the
remediation of the 301 Payran site, with a not -to- exceed amount of $600,000, to be paid back in
full within five years of initial transfer; and,
Resolution No. 2011-091 N.C.S. Page 1
2. Authorizes future budget transfers within the approved loan amount on an as-
needed basis from the Risk Management Fund to Project rdal00340.
Under the power and authority conferred upon this Council by the Charter of said City.
REFERENCE: I hereby certify the foregoing Resolution was introduced and adopted by the ed as to
Council of the City of Petaluma at a Regular meeting on the 6th day of June, 2011, orm:
by the following vote:
AYES: Albertson, Barrett, Mayor Glass, Harris, Vice Mayor Healy, Kearney, Ren6e
NOES: None
ABSENT: None
ABSTAIN:
ATTEST
Resolution No. 2011 -091 N.C.S. Page 2