Alhambra City Council approved Monday the issuance of $8 million in bonds to fund a new parking structure at 26 N. First Street. The lease revenue bonds — bonds that are repaid by revenues generated by the project they are funding — will finance the extra 292 spaces for Main Street patrons. Councilwoman Barbara Messina said the additional parking capacity may help secure a tenant on the corner of Main and Garfield Avenue.
“On the corner of Garfield and Main right now, we got an empty building with the possibility of a major tenant," Messina said during the council meeting. "But in order to secure that, we need to show that we will have sufficient parking so this parking structure is really critical to that."
Council also voted to add Alhambra to the list of participating cities in the California Home Energy Renovation Opportunity (HERO), a program that helps homeowners make energy-efficient upgrades to their property by financing eligible products at a fixed interest rate. Alhambra is the last city in the San Gabriel Valley to sign up for the program.
Not able to attend the meeting? You can watch it in its entirety here.
City Council usually meets every second and fourth Monday of the month on the second floor of City Hall: 111 S. First St., Alhambra, Calif., 91801. The next regular meeting will be on Monday, September 23 at 5:30 pm in the Alhambra Civic Center Library.