The Palos Verdes Estates City Council has approved a capital improvement budget of about $370,000 for the first part of a two-phase project to renovate the 70-year-old city-owned stables on Via Opata.
The first phase is being funded by more than $100,000 in special state parklands money and more than $50,000 in capital improvement funds raised by stable boarders. The council has yet to decide where it will get the remaining $220,000 for the project. It is considering borrowing the money from a bank or allocating it from city funds. In either case, the money would be repaid out of user fees, city officials said. The council also increased the monthly capital improvement fee paid by stable boarders from $25 to $50, beginning in January.
Construction will begin this fall as soon as a bidding process is completed. It includes replacing an old brown barn with four new barns, and rebuilding two riding rings and a service area.
The second phase of the renovation is scheduled for 1990. It would cost about $250,000 and include building storage areas for hay shavings and manure, parking, a livery barn and an office.