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<br /> MOTION CARRIED BY THE FOLLOWING ROLL CALL VOTE: <br /> AYES: COUNCIL MEMBERS BUCHAN, HARTNETT, HOWARD, <br /> LA BERGE, AND MAYOR GASPARINI <br /> NOES: COUNCIL MEMBERS SANFILIPO AND STEINFELD <br /> MINUTE ORDER NO. BD95-06 <br /> PUBLIC COMMENT <br /> Joe Steinfeld, 850 Main Street, expressed his views regarding the poor use of <br /> money in all Redevelopment Agencies, including Redwood City, and suggested the <br /> Agency be dissolved. <br /> Mayor Gasparini related her recent conversation regarding redevelopment in <br /> California cities with the Mayor of San Diego, and told how pleased she was that in <br /> comparing Redwood City to other cities, Redwood City was right on track with its <br /> redevelopment activities. <br /> ---------------------------------------------------------------------------------------------------------------- <br /> Mayor Gasparini declared a recess at 4:01 P.M. <br /> Meeting reconvened at 4:06 P.M. <br /> ---------------------------------------------------------------------------------------------------------------- <br /> C. REDWOOD CITY PORT BUDGET SUBVENTION TO THE CITY <br /> Mayor Gasparini advised that this presentation would be to describe the Port's <br /> subvention to the City as part of the City's 1995/96 FY Budget, and that the Port held its <br /> own public hearings during its budget review process. <br /> Dick Dodge, Board of Port Commissioners Chairman, presented video slides of the Port's <br /> budget and activities for 1994/95 FY and the reasons why a formula for the Port <br /> subvention was needed and what it would accomplish. The proposed formula would allow <br /> better predictability both for the Port and the City, provide no fewer monies than over the <br /> last five years, and would be as follows: the Port would subvent to the City, 6% of its <br /> gross, and 100% of its profit after funding of its necessary reserve accounts. Chairman <br /> Dodge presented an estimate of the total subvention over the next five years. <br /> Vice Mayor Hartnett thanked the Board of Port Commissioners and Port staff for their <br /> hard work and their cooperation working with the Mayor and Vice Mayor in working out <br /> this formula that will enhance the contribution to the city and keep the Port on an even <br /> keel. <br /> MINUTE BOOK NO. 53 <br /> Adjourned Special Council Meeting Budget Study Session Minutes Page No. 253 <br /> July 15, 1995 <br /> Page 9 <br /> . - . -.- , <br />