Palmetto Avenue, the new look will be welcome

Pacifica Tribune Letters to the Editor, 4/20/16.  "Our Main Street" by Celeste Chernicky

"Dusty old Palmetto" streetscape project
will have a cash infusion of $2.5 million

"Who would have thought the dusty old Palmetto city site would become the innovation engine for a new look in Pacifica. Many of the applicants have coastal experience in Mendocino and San Luis Obispo counties.

I think this offering of a hotel, restaurant, an retail combination will become a real plus for us all."
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Related news article.   Pacifica Tribune/Jane Northrop, 3/24/16. "Rediscovered funds to help pay for Palmetto Avenue streetscape project." "Council Member Mary Ann Nihart recalled funds being available somewhere for Phase I of the Palmetto Avenue streetscape. With new city staff on board who did not know about that, Assistant City Manager Lorenzo Hines, Jr. asked financial advisor Peter Wong to research it. 

Wong found $1.5 million in a trustee account that resulted from the issuance of Certificates of Participation in 2008.  ....  'The original trustee, Deutsche Bank, left and U.S. Bank stepped in to serve as the current trustee', Wong said. 

....  In October, $1 million in grant funds will potentially be available for the city to compete for to be put to use on the streetscape, Hines said.  .... 'We would lose it if we can’t make it come to fruition,' said City Manager Lorie Tinfow. ....'The city got out of this in 2008 due to the financial crisis,' Wong said."

Note photograph of Palmetto Avenue by Jane Northrop from her related Pacifica Tribune article. Good article, clarifies the money issue.

Posted by Kathy Meeh