Report to Carson Reclamation Authority
Monday, March 06, 2023
Consent
SUBJECT:
Title
CONSIDER RESOLUTION NO. 23-06-CRJPA, A RESOLUTION OF THE CARSON RECLAMATION AUTHORITY, AMENDING THE FISCAL YEAR 2022/23 BUDGET TO TRANSFER FUNDS IN THE AMOUNT OF $125,000
Body
I. SUMMARY
On June 6, 2022 the Carson Reclamation Authority approved the Fiscal Year 2022-23 budget. It included $12,368,531 for Professional Services. Expenses were foreseen in the areas of project management and oversight, Cell 2 construction-related costs, sitewide management, and Lenardo Road construction. A majority of the anticipated costs in all areas except for project management and oversight have been delayed, resulting in the availability of the earmarked dollars for other expenses that occurred after the passage of the budget.
At the same time, legal fees for the Authority have been greater than anticipated during the current fiscal year. While 100% of the legal costs associated with Faring/Carson Goose Owner's development of Cells 3, 4 and 5 is reimbursed by the Developer, the Authority has been very busy with several other matters that have required the involvement of the Authority's legal counsel and which are not reimbursed. The Authority is solely responsible for payment of those billings. Issues include the dissolution of the contract with RE|Solutions, LLC and the subsequent restructuring of the management of the 157-acre site, Cell 2 matters, Cell 1 discussions, and issues related to the street construction.
It is estimated that $125,000 (in addition to the $320,000 originally budgeted for legal services) will be sufficient to pay legal fees for the remainder of the fiscal year. It is recommended that the Authority approve the transfer of said $125,000 from the professional services budget to the legal services budget.
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II. RECOMMENDATION
Recommendation
WAIVE further reading and ADOPT Resolution No. 23-06-CRJPA, "A RESOLUTION OF THE CARSON RECLAMATION AUTHORITY AMENDING TH...
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