Council to Consider Releasing Trust Funds
Two expenditures from the Lopez Canyon Community Amenities Trust Fund have appeared on the City Council’s agenda this week, with one receiving approval and the other now set for a vote.
The smaller of the two, a $2,500 award to Hillview Village, a mental health facility serving Lake View Terrace, passed unanimously Tuesday.
Today, the council is scheduled to vote on the proposed use of $623,553 from the trust fund to secure the purchase of a 1.53-acre vacant lot at 12002 Osborne St. on which the Lake View Terrace Area Community Library and Environmental Awareness Center will be built.
When the trust fund began in 1991 to assist residents of the area around the now-defunct Lopez Canyon Landfill, $1 million was set aside to begin the acquisition, design and construction of the library. Acquisition is underway, but funds are required to close the escrow process. Escrow spending must be approved by the council.
The final cost of the library is projected at $3 million, according to Annette Castro, chief deputy for City Councilman Richard Alarcon, whose district includes Lopez Canyon.
In addition to the trust fund, the project will draw from city-managed community development block grants.
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