Heather Young/Atascadero News The historic City Administration Building will soon have life restored to it when work begins nearly seven years after the 2003 earthquake left the building red-tagged.

To finance the city’s portion of the historic City Administration Building’s rehabilitation, Atascadero Administrative Services Director Rachelle Rickard will recommend the City Council approve proceedings by the Atascadero Public Financing Authority for the issuance and sale of lease revenue bonds.

According to Rickard’s staff report, the sale will also help finance other capital improvements throughout the city. The second part of the recommendation is to adopt a draft resolution to establish a financial reserve policy.

“There are no new taxes paying for this,” Rickard said.

Rickard will present her recommendations to the council at its regular meeting on Tuesday, July 27. The Redevelopment Agency will meet at 6 p.m. and the council meeting will begin immediately following.

To view Tuesday’s agenda and the full staff report, go to www.atascadero.org or stop by Atascadero City Hall during business hours. For more information, call 461-5000.

See our in-depth coverage on the City Administration Building on Page B1.