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<br />40% of the tax increment received by the Agency: <br /> <br />ft,A-9 <br /> <br />. <br /> <br />San Mateo County Community College District <br />Sequoia Union High School District <br />Redwood City School District <br />San Mateo County Office of Education <br />Mid-Peninsula Open Space District <br />Mosquito Abatement District <br />San Mateo County Harbor District <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />The one exception was San Mateo County itself. In their case they wanted the agreement to specify <br />a dollar limit. The agreement with the County, therefore, caps the County's "contribution" to <br />redevelopment at $25,000,000. As of June 1999, the County's contribution towards this cap was <br />$1,700,000. It appears that the cap will not be reached for perhaps 20 years.3 <br /> <br />Cinema land Payment <br />In 1998 the Agency acquired a piece of land from the Redwood City School District in exchange for <br />a parcel of Agency land and an annual payment of $42,3214. This reflects the second annual <br />installment of this payment. <br /> <br />Economic Development Strategy describes all the funds available to operate the Agency's <br />economic development initiatives in 2000-2001. This encompasses the Storefront Improvement <br />Program, funds for the implementation of the Auto signage (including wayfinder signage5) <br />Downtown Banner Program and City entry improvement initiatives. Any funding required for the <br />cinema project will also come from this source. <br /> <br />Storefront Improvement Program <br />This program is proposed to continue in 2000-2001 in the Downtown and along EI Camino Real <br />adjacent to Downtown. <br /> <br />Parking structure <br />It is anticipated that the Redevelopment Agency will be one of the primary vehicles for financing of <br />a new parking structure in the Downtown. <br /> <br />3 The Redevelopment Plan terminates in 2028. <br />4 This payment was to continue for fifteen years. <br />5 This is part of the proposed Freeway Sign Overlay Program. Wayfinder signage would provide guidance to people seeking car <br />dealerships not located on the freeway. This proposal will come back to the Council as part of the overall Freeway Sign Overlay <br />District. On June 7, 1999 the Overlay District proposal was referred back to staff for additional work. <br /> <br />8 <br /> <br />.~... "~""T <br />