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80 Page 7 I. Non-Housing Redevelopment Activities and Expenditures A. Introduction In December 2004, the Redevelopment Agency of the City of Redwood City adopted an Implementation Plan for Redwood City Redevelopment Project Area NO.2. The Implementation Plan covers the five-year period of January 2005 through December 2009. Section 33490 of the California Health and Safety Code requires agencies, at least once within the 5-year implementation plan term, to conduct a public hearing for the purpose of reviewing the redevelopment plan and the corresponding implementation plan and evaluating the progress of the redevelopment project. This report has been prepared to assist in the mid-term evaluation of the redevelopment project and five-year implementation plan. Topics addressed in this report include: . A description of the Agency's activities that have been undertaken over the past 3 years, since the last Implementation Plan was adopted; . Agency expenditures over the past 3 years; . An update on projects and programs that the Agency intends to undertake through December 2009; . An update on anticipated Agency revenues and expenditures through December 2009. A profile of the Project Area including plan limits and acreages is provided on Table 1. The boundaries of the Project Area are shown on the following map. B. Overview of Plan Progress/Project Area Accomplishments Since 2004 Major Agency-sponsored projects that were under construction in December 2004 are now complete and have markedly improved Downtown Redwood City. The Agency has focused its efforts on the completion of the projects, the tenanting of retail space, developing an active events calendar for the downtown, and providing assistance to existing businesses. All of these activities were identified as target Agency activities in the Implementation Plan. The Agency- sponsored projects and programs include the following: . On Broadway Retail-Cinema Project and Downtown Parking Garage: The 20 screen, 4,200 seat downtown cinema with approximately 85,000 square feet of retail space is now complete along with the 590-space underground public parking facility, which was funded by the Agency. Keyser Marston Associates, Inc. \\Sf-fs1\wp\ 18\ 1861 O\18610.005\002-002.doc; 1/17/2008 Page 1