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Council meeting that they would communicate to the City by the end of January 10, some potentially positive ideas regarding how the agencies might work together in not only protecting the designated endangered species but perhaps protecting them in even a better way than currently contemplated. Additionally, there should be communication with U.S. Fish and Wildlife, the agency with jurisdiction over the subject matter, so that positive ways to accomplish the purpose of the permit to protect endangered species may be addressed. By continuing this item, the Council is not prejudicing the ability to accept the contract as it is stipulated in the bids that the issue may be held open as appropriate and determination whether to approve the contract will occur after discussions are complete. M/S Hartnett/Ira to continue to the regular meeting of January 24 after discussion with Sequoia Audubon Society and U.S. Fish and Wildlife. The motion passed by a unanimous voice vote. B. Traffic Mitigation Fee Agreement with Irvine Apartment Communities (IAC); RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF AGREEMENT FOR THE FUNDING OF OFF -SITE ROADWAY IMPROVEMENTS RELATING TO EAST BAYSHORE ROAD AND EXTENSION OF EAST BAYSHORE ROAD; (Irvine Apartment Communities Residential Marina Project) M/S Ira/Howard to remove from consideration and continue to the regular Council meeting of January 24. The motion passed by a unanimous roll call vote. C. Agreement for Consultant Engineering Services — Bayshore Road Widening: RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF AGREEMENT FOR PROFESSIONAL CONSULTING ENGINEERING SERVICES IN CONNECTION WITH THE BAYSHORE ROAD WIDENING PROJECT; (Nolte and Associates, Inc.) M/S Ira/Howard to remove from consideration and continue to the regular Council meeting of January 24. The motion passed by a unanimous roll call vote. D. Acknowledge Receipt and Accept the Comprehensive Annual Financial Report for Fiscal Year Ended June 30, 1999; (501) Financial Services Director Ponty began his report confining discussion to the General Fund activities, as it is the fund of which Council has the most discretion and will answer questions on any part of the document. He stated sales tax was up 13% and continues to be the largest source of funding in the General Fund at 30% of General Fund Revenue or 15.3 million dollars. The downside of sales tax is that it remains very concentrated. Of the 15.3 million dollars, over 7.5 million dollars is generated by just 25 businesses in Redwood City. Property tax remains the second largest source of revenue at 24% of the General Fund Revenue, or 12.4 million dollars. Property taxes were up 11% over the prior year, REGULAR COUNCIL MEETING MINUTES JANUARY 10, 2000 PAGE 7 MINUTES Book No.58 Page NO.7