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B. Extension of Downtown exemption to Transportation Impact Mitigation Fee (TIMF) for new projects Downtown Development Manager Zack explained why the recommendation is to extend the exemption or a period of 18 months, retroactive to the expiration which is the end of 2006. Mayor Pierce opened the public hearing. Public Comment: Janet Borgens referred to the second page under proposed extension of the exemption and asked for clarification on, "losses and revenues to the TIMF will either be directly replaced from another source or will be offset by Redevelopment Agency funding of TIMF projects listed in the original study ". She asked for an explanation of the disincentive for office use. Zack stated that the reason the source is not identified at this time is because the decision if necessary will be made at the time needed. Two possible sources are C /CAG and new EIR mitigation items from new projects that could occur. M/S Bain /Howard to close the public hearing. The motion passed by a unanimous voice vote by those present. There was general Council discussion about consideration of larger projects being more productive after the Precise Plan is adopted. Recommendation: M/S Hartnett/Aguirre to approve the recommended amendment to Section 18.253 A.8 of the City Code, which would extend the TIMF exemption for projects in the Downtown area as an incentive for development for 18 months or until a revised program is adopted. ORDINANCE AMENDING ARTICLE XV, SECTION 18.253 TO CHAPTER 18 OF THE CODE OF THE CITY OF REDWOOD CITY RELATING TO EXEMPTIONS AND CREDITS TO THE TRANSPORTATION IMPACT FEES FOR USES EXCEPT PROFESSIONAL, MEDICAL, BUSINESS AND ADMINISTRATIVE OFFICE USES WITHIN A CERTAIN DEFINED DOWNTOWN AREA The motion passed by a unanimous roll call vote by those present. (505) MINUTE ORDER 06 -14 JOINT CITY COUNCIL AND REDEVELOPMENT AGENCY MEETING MINUTES JANUARY 9, 2006 PAGE 10 MINUTE ORDER BOOK NO. 61 Page 82