Manteca’s general fund bottom line is improving a bit thanks to the $6.6 million transit station breaking ground this fall on Moffat Boulevard at South Main St.
The City Council serving in its dual role as the Manteca Redevelopment Agency commission sold two parcels the city owns to the redevelopment agency. The land is where the two-story transit station is being built.
The $940,000 the city will realize from the sale will go into the general fund’s emergency reserve. It marks the first time since at least the mid-1990s that money has been added to the emergency reserve. It has been kept through good and bad financial times at $1,918,000. The additional money will bring that account up to $2,858,000.
Finance Director Suzanne Mallory told the council that ideally the city should have $6 million sitting in the emergency reserve or one fifth of the general fund budget of $29.6 million.
Manteca last month whittled down $9,996,832 in non-restricted general fund carryover money from the fiscal year that ended June 30 by almost $3.2 million to $6,745,704. The move was made to eliminate the general fund deficit for the current fiscal year. The reserve funds were needed because projected revenues for this fiscal year that started July 1 are only $26,354,625 for the general fund while projected expenses are $29,405,753. General fund services encompass police, fire, streets, parks, and general government.
Mallory noted the money cannot be transferred out for other purposes unless a formal council resolution is adopted to do so.
The transit station is being built with a combination of federal fund and Measure K sales tax receipts. No general fund money is being used. The general fund is the only municipal account that is under duress from too many expenditures and not enough revenue.
Part of the deal includes the RDA paying Fran’s Creative Upholstery $100,000 to relocate their business to make room for the 7,000-square-foot transit station project that includes 100 parking spaces.
Fran’s Upholstery partners Bill Ray Faulkner, Frances Bernice Faulkner, and Carolyn Johnson built a Butler-style steel building at 250 Moffat Boulevard on the land when it was owned by Southern Pacific Railroad that then sold to the Union Pacific. In the mid-1990s Manteca purchased 34 acres that was once the right-of-way for the now defunct Tidewater Southern Railway to create the Tidewater Bikeway. Part of that land included the site where the upholstery shop is located.
The settlement covers relocation assistance which includes moving expenses and business re-establishment costs.
The partnership will receive $20,000 within 10 business days of Tuesday’s council’s vote. The remaining $80,000 will be paid within 15 business days after the agency receives written notice from Fran’s Upholstery that they have vacated the metal building and the agency has inspected the site to verify it has been vacated.
Plans for the transit station currently do not call for a train platform as the Altamont Commuter Express service is not expected to be extended southward into Merced County for at least five to 10 years.
The transit station will hopefully serve Greyhound and ACE trains in the future.
Initially it will serve as the hub station for Manteca Transit and as a San Joaquin Regional Transit stop.
The City Council serving in its dual role as the Manteca Redevelopment Agency commission sold two parcels the city owns to the redevelopment agency. The land is where the two-story transit station is being built.
The $940,000 the city will realize from the sale will go into the general fund’s emergency reserve. It marks the first time since at least the mid-1990s that money has been added to the emergency reserve. It has been kept through good and bad financial times at $1,918,000. The additional money will bring that account up to $2,858,000.
Finance Director Suzanne Mallory told the council that ideally the city should have $6 million sitting in the emergency reserve or one fifth of the general fund budget of $29.6 million.
Manteca last month whittled down $9,996,832 in non-restricted general fund carryover money from the fiscal year that ended June 30 by almost $3.2 million to $6,745,704. The move was made to eliminate the general fund deficit for the current fiscal year. The reserve funds were needed because projected revenues for this fiscal year that started July 1 are only $26,354,625 for the general fund while projected expenses are $29,405,753. General fund services encompass police, fire, streets, parks, and general government.
Mallory noted the money cannot be transferred out for other purposes unless a formal council resolution is adopted to do so.
The transit station is being built with a combination of federal fund and Measure K sales tax receipts. No general fund money is being used. The general fund is the only municipal account that is under duress from too many expenditures and not enough revenue.
Part of the deal includes the RDA paying Fran’s Creative Upholstery $100,000 to relocate their business to make room for the 7,000-square-foot transit station project that includes 100 parking spaces.
Fran’s Upholstery partners Bill Ray Faulkner, Frances Bernice Faulkner, and Carolyn Johnson built a Butler-style steel building at 250 Moffat Boulevard on the land when it was owned by Southern Pacific Railroad that then sold to the Union Pacific. In the mid-1990s Manteca purchased 34 acres that was once the right-of-way for the now defunct Tidewater Southern Railway to create the Tidewater Bikeway. Part of that land included the site where the upholstery shop is located.
The settlement covers relocation assistance which includes moving expenses and business re-establishment costs.
The partnership will receive $20,000 within 10 business days of Tuesday’s council’s vote. The remaining $80,000 will be paid within 15 business days after the agency receives written notice from Fran’s Upholstery that they have vacated the metal building and the agency has inspected the site to verify it has been vacated.
Plans for the transit station currently do not call for a train platform as the Altamont Commuter Express service is not expected to be extended southward into Merced County for at least five to 10 years.
The transit station will hopefully serve Greyhound and ACE trains in the future.
Initially it will serve as the hub station for Manteca Transit and as a San Joaquin Regional Transit stop.
