Lakewood Sales Tax Generates Surplus, Roads Need Repaving – Cerritos Community News
February 12, 2022
By Brian Hews
On Tuesday night, City Council voted to allocate $5 million to repave eight miles of Lakewood streets.
Construction costs will be funded using various funds from Proposal C, Measure R, Measure M and SB1.
The council-approved repaving program will focus on the streets most in need of repaving. The city will receive more federal, state and county funding in future years and will continue to focus on streets that need it most at this time.
Streets that will be affected include Candlewood, from Fidler to City Limits west of Paramount; Harvey from Bellflower to Woodruff; Downey of Del Amo at the Country Club; Del Amo from Downey to Cherry; Studebaker’s Del Amo in Bloomfield; Los Coyotes Blvd from Del Amo to Pioneer; Ashworth from Clark to Woodruff; South Castana to Ashworth; South Hersholt to Hedda.
The City Clerk received six bids and awarded the project to RJ Noble Company of Orange for $4.4 million.
Willdan’s engineering firm has entered into an agreement with the Town of Lakewood to assist with various engineering matters. It submitted a proposal for $127,800 to provide construction inspection services for this project.
In addition, the city council received good news regarding its budget and revenues. The City is currently in the second year of a biennial budget passed in June 2020, with a revised budget forecast in June 2021.
When it was adopted last summer, the general fund budget forecast a surplus of $695,000. “After considering information to date and financial trends,” the budget was adjusted, adding $2.4 million for a total surplus of $3.1 million.
Sales tax measure L was the largest increase, adding $1.5 million to revenue.
On the other side of the ledger, expenses are expected to increase by nearly $349,000. The central increases are attributed to an increase of $254,000 in capital expenditures and $109,000 in departmental special supplies.
City staff have taken the first steps in developing the City’s next two-year budget. As in past years, staff are ready to present a biennial budget proposal for 22-24 before the end of the current biennium.