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Waive the Second Reading and Adopt an Ordinance Amending Zoning <br />Ordinance Article 59 (Cannabis Cultivation and Commercial Cannabis <br />Activity) and find that the project is exempt from the requirements of CEQA <br />under Section 26055(h) of the Business and Professions Code <br />AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY <br />AMENDING ARTICLE 59 OF THE REDWOOD CITY ZONING ORDINANCE TO <br />ALLOW COMMERCIAL CANNABIS ACTIVITIES IN THE COMMERCIAL OFFICE <br />(CO) ZONING DISTRICT <br />6.4 B. Adoption of Ordinance adding Section 115 Trust Account Fund, the <br />Other Restricted Donations and Grants Fund, and the Public, <br />Educational, and Governmental (PEG) Fees Fund <br />Staff contact: Kimbra McCarthy, Assistant City Manager/Administrative Services Director <br />780-7072 kmccarthy@redwoodcity.org <br />Recommendation: <br />Waive the Second Reading and Adopt the Ordinance (Attachment 1) adding: <br />1. Section 2.41.13 to Chapter 2, Article IV of the Redwood City Municipal <br />Code to establish a Fiduciary Trust Fund in the City's financial system to <br />be known as Section 115 Trust Account Fund; and <br />2. Section 2.41.14 to Chapter 2, Article IV to the Redwood City Municipal <br />Code to establish a Special Revenue Fund in the City's financial system <br />to be known as Other Restricted Donations and Grants Fund; and <br />3. Section 2.41.15 to Chapter 2, Article IV to the Redwood City Municipal <br />Code to establish a Capital Projects Fund in the City's financial system to <br />be known as PEG Fees Fund <br />AN ORDINANCE OF THE CITY OF REDWOOD CITY ADDING SECTIONS <br />2.41.13 THROUGH 2.41.15 TO CHAPTER 2, ARTICLE IV, TO THE CITY OF <br />REDWOOD CITY MUNICIPAL CODE TO ESTABLISH: (1) A FIDUCIARY FUND <br />FOR THE RECORDING AND HANDLING OF ACTIVITIES OF THE FUND <br />KNOWN AS THE SECTION 115 TRUST ACCOUNT FUND; (2) A SPECIAL <br />REVENUE FUND FOR THE PURPOSE OF RECORDING AND HANDLING OF <br />ACTIVITIES OF THE FUND KNOWN AS THE OTHER RESTRICTED <br />DONATIONS AND GRANTS FUND; AND (3) A CAPITAL PROJECTS FUND FOR <br />THE PURPOSE OF RECORDING AND HANDLING OF ACTIVITIES OF THE <br />FUND KNOWN AS THE PEG FEES FUND <br />6 5. Section - Claim(s) and Check(s) <br />A. Approve claims and checks dated August 27, 2018 and the usual and <br />necessary payments through September 10, 2018 <br />Staff contact: Kimbra McCarthy, Assistant City Manager/Administrative Services Director <br />780-7072 kmccarthy@redwoodcity.org <br />7. PUBLIC HEARING(S) - None <br />JOINT CITY COUNCIL/SUCCESSOR AGENCY BOARD/ August 27, 2018 <br />PUBLIC FINANCING AUTHORITY MEETING AGENDA PAGE 9 <br />