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Redevelopment Agency of the City of Redwood City <br /> Notes to Basic Financial Statements, Continued <br /> For the year ended June 30,2007 <br /> 2. CASH AND INVESTMENTS <br /> The Agency has pooled its cash and investments with the City in order to achieve a higher return on <br /> investment. Certain restricted funds, which are held and invested by independent outside custodians through <br /> contractual agreements, are not pooled. These restricted funds include cash with fiscal agents. <br /> The investments made by the City are limited to those allowable under State statutes and include the <br /> f ollowing types of investments: <br /> ♦ Bankers Acceptance <br /> ♦ State of Calif ornia Local Agency Investment Fund (LAIF) <br /> ♦ Certificate of Deposit <br /> ♦ Commercial Paper <br /> ♦ Government Agency Securities <br /> ♦ Money Market Certif icates <br /> ♦ Passbook Savings Accounts <br /> ♦ San Mateo County Investment Pool <br /> ♦ Treasury Bills and Notes <br /> All cash and investments are stated at f air value. Pooled investment earnings are allocated monthly based on <br /> the average cash and investment balances of the various funds and related entities of the City. Cash and <br /> investments available for operations amounted to $5,647,814 as of June 30, 2007. Restricted cash and <br /> investments at June 30,2007 amounted to$4,422,611. <br /> See the City's Comprehensive Annual Financial Report for disclosures related to cash and investments and the <br /> related custodial risk categorization. <br /> 3. LOANS RECEIVABLE <br /> As of June 30, 2007,loans receivable consisted of the f ollowing: <br /> First Time Homebuyer Loan Program $ 278,282 <br /> City Centre Plaza Loans 1,700,000 <br /> First Time Homebuyer Silent Loan Program 1,235,454 <br /> Housing Rehabilitation Loans 96,923 <br /> First Community Housing Loans 2,427,000 <br /> Loans with for Profit Organizations 650,000 <br /> Total $ 6,387,659 <br /> 27 <br />