TO: Members of the Governing Board
FROM: Christopher Silke, District Engineer
REPORT BY: Annamaria Martinez, Assistant Engineer
SUBJECT: Approval of letter requesting temporary loan from Napa County of $1 million, Adoption of the Associated Loan Resolution, Authorizing the Chair to sign the Promissory Note, and Approval of a Budget Transfer to increase appropriations for Fiscal Year 2022-23
RECOMMENDATION
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District Engineer requests the following actions as it relates to temporary loan of General Fund moneys to the Napa Berryessa Resort Improvement District (District) (4/5 vote required):
1. Approval of and authorization for the Chair to sign a letter requesting a temporary loan from Napa County pursuant to Government Code Section 25214.4 to provide funding for the operation of the water and wastewater facilities;
2. Adoption of a Resolution approving the loan to provide funding for the operation of the water and wastewater facilities and authorizing the Chair to sign the Promissory Note - contingent upon approval of the loan from the Napa County Board of Supervisors; and
3. Approval of a Budget Amendment appropriating $400,000 in the Napa Berryessa Resort Improvement District Administration Budget for Fiscal Year (FY) 2022-23, by transferring a loan from the Accumulated Capital Outlay in the amount of $1,000,000 - contingent upon approval of the loan by the Napa County Board of Supervisors.
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EXECUTIVE SUMMARY
Approval of a temporary loan agreement in the amount of $1,000,000 and the appropriation of $400,000 of the loan proceeds in the FY 2022-23 operations budget is needed by the Napa Berryessa Resort Improvement District ("District") to cover operations and maintenance expenses for the water and wastewater facilities through June 30, 2023, with the remainder of the loan necessary to cover FY 2023-24 operations and maintenance expenses. The temporary loan is necessary due to a continued loss of revenue caused in part by the loss of over...
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