Mission Viejo Ca Finances

Betting on the vast commercial potential of South County, one of the nation's largest shopping-center developers confirmed plans Monday for a mammoth expansion of the Mission Viejo Mall. Despite the pall that hangs over the retail industry, Edward J. DeBartolo Corp., which owns the mall, said it will move forward with a $110-million renovation that will add a fourth major department store to the 13-year-old retail complex. The project may get a $6-million boost from the city.

The city's comprehensive annual financial report, released earlier this week, showed that revenue exceeded projections by more than $2 million in the last fiscal year, due in large part to the strength of the economy. Much of the growth was due to a jump in total tax revenues of nearly 18% and a 9.5% increase in assessed property values within the city.

The City Council has agreed to participate in a state program that will pay the city up to $57,380 annually to tow away abandoned vehicles. The program makes the city eligible for a maximum of $295,507 in state funds over five years. City officials say wrecked or abandoned cars are a persistent problem in Mission Viejo. "It's something we deal with every single day," said Sheriff's Lt. George Johnson, the ranking police officer in Mission Viejo.

At a budget workshop Wednesday, residents urged City Council members to support expansion of the Norman P. Murray Community and Senior Center and improvements to the Marguerite Aquatics Complex. They also asked that more money be allotted for expansion of the Montanoso Recreation Center and amenities for other recreation buildings.

At a budget workshop Wednesday, residents urged City Council members to support expansion of the Norman P. Murray Community and Senior Center and improvements to the Marguerite Aquatics Complex. They also asked that more money be allotted for expansion of the Montanoso Recreation Center and amenities for other recreation buildings.

The City Council will consider Monday whether to pay cash to build a temporary home at Saddleback College for the Long Beach Riptide minor league baseball team. City staff is asking for the appropriation of $1.1 million, with about $871,000 going toward renovating the baseball field currently being used by the college and installing temporary bleachers and lights.

When the city decided last year to build a new library, it put off working out details of how to pay for the $6.5-million facility. After examining several options, the City Council voted this week to pay half of the construction costs with bonds and the rest with city reserves. The council authorized $3.5 million in certificates of participation, a type of bond, and $3.5 million from reserves. The extra $500,000 will cover interest paid to those who buy the certificates.

Certificates being issued to help finance construction of a new library won high marks from a national rating agency. The report by Standard & Poor's Corp., which evaluates the financial strength of companies and governments, gave an A+ to Mission Viejo's $3.3 million in certificates of participation, citing the city's good fiscal health and credit status. "I'm pleased as punch to see the financial experts say that we are fiscally sound," Mayor Sherri M. Butterfield said.

Community grants will now be awarded by the city twice each year instead of quarterly, the City Council recently decided. Upholding a recommendation earlier this year from the Community Service Commission, the council agreed that awarding the grants twice a year would be a better use of staff time and city resources. Under the new cycle, applications for $50,000 in city grants will be due Nov. 1 and April 1. The community grants are awarded to nonprofit groups that serve Mission Viejo

In an unusual twist, the city will save about $133,000 by adding new jobs, city officials say. That's because six of the 10 new hires authorized in the city's $43.4-million preliminary budget have already been working for Mission Viejo as contractors. City officials have found it costs less to hire the workers outright rather than pay private contractors. The jobs are in the Public Works, Parks and Recreation and Information Systems departments. Mayor Sherri M.

Adult softball players are among the winners in a new deal between the city and Saddleback Valley Unified School District that will exchange lights for field space. Under the agreement approved last week by the City Council, Mission Viejo will spend as much as $500,000 to buy and install lights on two softball fields at Trabuco Hills Middle School.

City officials are considering spending as much as $35 million to help finance a massive face lift to the 18-year-old Mission Viejo Mall in what would be the largest infusion of municipal funds on a South County project in a decade. Although the city hasn't decided how much it wants to contribute, the effort is backed by City Council members who believe the renovated mall, including a Nordstrom Department Store, will generate an additional $2.8 million in annual sales tax revenue to the city.

The City Council will consider Monday whether to pay cash to build a temporary home at Saddleback College for the Long Beach Riptide minor league baseball team. City staff is asking for the appropriation of $1.1 million, with about $871,000 going toward renovating the baseball field currently being used by the college and installing temporary bleachers and lights.

The Long Beach Riptide will be bringing minor league baseball to South County this summer once one more major hurdle is cleared. Riptide officials, who had set a Dec. 31 deadline for deciding whether to relocate, delayed a commitment on a move in order to give Saddleback College trustees time to vote on a temporary on-campus home for the team.

Community grants will now be awarded by the city twice each year instead of quarterly, the City Council recently decided. Upholding a recommendation earlier this year from the Community Service Commission, the council agreed that awarding the grants twice a year would be a better use of staff time and city resources. Under the new cycle, applications for $50,000 in city grants will be due Nov. 1 and April 1. The community grants are awarded to nonprofit groups that serve Mission Viejo

Certificates being issued to help finance construction of a new library won high marks from a national rating agency. The report by Standard & Poor's Corp., which evaluates the financial strength of companies and governments, gave an A+ to Mission Viejo's $3.3 million in certificates of participation, citing the city's good fiscal health and credit status. "I'm pleased as punch to see the financial experts say that we are fiscally sound," Mayor Sherri M. Butterfield said.

Reversing its earlier position, the city staff on Monday will recommend to the City Council that $6 million allocated in the proposed 1995-96 budget for library construction be reduced. Including the full amount of construction costs, staff members said, could hurt the city's chances of getting grants or issuing bonds for the library. Sherri M. Butterfield, the library's main advocate on the council, said she understands the logic of staff's position--with one provision.

In an unusual twist, the city will save about $133,000 by adding new jobs, city officials say. That's because six of the 10 new hires authorized in the city's $43.4-million preliminary budget have already been working for Mission Viejo as contractors. City officials have found it costs less to hire the workers outright rather than pay private contractors. The jobs are in the Public Works, Parks and Recreation and Information Systems departments. Mayor Sherri M.