RPV City Council Will Discuss Ladera Linda Center, Park Financing

RANCHO PALOS VERDES, CA — The Rancho Palos Verdes City Council Tuesday will discuss financing options for the Ladera Linda Community Center and Park Project, which is estimated at $15.7M.

So far, the project has recommendations from the city's Finance Advisory Committee to do the following:

• Use up to 50% of the City’s American Rescue Plan Act funding.
• Use available funds from the Quimby Fund.
• Use a 50/50 split between financing with iBank and the Capital Infrastructure Program Fund Reserve.
• Create a framework to replenish the CIP Fund with interest earnings, additional transfers from the General Fund when there is a surplus, and private funding, such as donations and capital fundraisers.

Residents can join the hybrid in-person and virtual meeting at 7 p.m. in McTaggart Hall at Fred Hesse Jr. Community Park and via Zoom. The number of in-person attendees is limited and COVID-19 safety protocols are in place. City officials urge and encourage virtual participation. The meeting will livestream on the City website and be televised on RPVtv Cox 33/Frontier FiOS 38.

A staff report for this topic is available on the city's website.

People can submit comments to the City Council in advance of the meeting by emailing them to cc@rpvca.gov. Comments can be provided during the meeting or people can leave a pre-recorded voice message, please complete a form at rpvca.gov/participate.

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