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<br />RESOLUTION NO. <br /> <br />RESOLUTION AMENDING THE REDWOOD CITY REDEVELOPMENT <br />AGENCY BUDGET FOR FISCAL YEAR 2006-2007 BY <br />TRANSFERRING $227,758 FROM THE REDEVELOPMENT AGENCY <br />CAPITAL BUDGET "CONTINGENCY" ACCOUNT INTO THE PUBLIC <br />OPEN SPACES ACCOUNT AND AUTHORIZING THE USE OF THE <br />PUBLIC OPEN SPACES ACCOUNT FOR THE COMPLETION OF THE <br />POST OFFICE PASEO PROJECT <br /> <br />WHEREAS, the Board of the Redwood City Redevelopment Agency adopted <br /> <br />Resolution No. RD 06-05 approving its Fiscal Year 2006-2007 budget; and <br /> <br />WHEREAS, funding of $330,000 was approved in the Downtown Funding Plan in <br />Fiscal Year 2003/2004 for post office and public open space projects; and <br />WHE~EAS, a combined balance of $226,679 remains unencumbered in the <br /> <br />Jefferson Post Office and Public Open Spaces accounts after funding design costs and <br /> <br />the construction of parking improvements between the post office and city hall; and <br /> <br />WHEREAS. the costs of completing the Post Office Paseo project include <br /> <br />$388,437.20 for the construction contract, $20,000.00 for engineering staff costs, <br /> <br />$39,000.00 for a 10% project contingency, and $7,000.00 for construction <br /> <br />administration services by the architect; and <br /> <br />WHEREAS, the total Post Office Paseo project cost equals $454,437.20; and <br /> <br />WHEREAS, the current combined balance of $226,679 in the Jefferson Post <br /> <br />Office ($26,679) and Public Open Spaces ($200,000) accounts will be utilized for the <br /> <br />Post Office Paseo project; and <br /> <br />WHEREAS, additional funds totaling $227,758 will be needed in the Downtown <br /> <br />Funding Plan to make up the difference; and <br /> <br />ATTY/RESOIRESO.1667 <br />112906 <br /> <br />1 <br /> <br />6.20 <br />Page 4 <br />