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<br />7E <br />Page 13 <br /> <br />b. Appropriation of $50,000 grant from Target for Sunday afternoon <br />family concerts as part of the Agency's 2008 "Summer in The City" Program; <br /> <br />c. Appropriation of $600,000 from the Agency General Fund 'Working <br />Capital Balance" to the Agency Capital Budget to help pay for planning, <br />engineering. design and other costs for the proposed Transit Connectivity project <br />related to Depot Circle and the Train Station, located in the Redevelopment <br />Project Area; <br /> <br />d. Appropriation of $650,000 from the Agency General fund 'Working <br />Capital Balance" to the Agency Capital Budget to upgrade the Downtown Garage <br />fou ndation; <br /> <br />e. Appropriation of $1.1 million from the Agency Low- and Moderate <br />Income Housing Fund "working Capital Balance" to the Agency Housing Capital <br />Budget for the acquisition of property for affordable housing projects; and <br /> <br />f. Appropriation of $1 million from the Low- and Moderate Income <br />Housing Fund 'Working Capital Balance" as possible funding assistance for the <br />proposed Bradford Street Affordable Housing project. <br /> <br />Section 2. Based on the evidence provided by staff, the Agency hereby finds <br />and determines that: <br /> <br />a. The Transit Connectivity and Downtown Garage projects will be of <br />benefit to the project area because they are both located within the <br />redevelopment project area; <br /> <br />b. There is no other reasonable means of financing these <br />improvements from the City General Fund or other City resources; and <br /> <br />c. These projects will further the purposes of the Redevelopment <br />Plan. The Transit Connectivity Project related to Depot Circle and the Train <br />Station will help enhance Caltrain service for the downtown area, as well as <br />integrate Sequoia Station and the residential neighborhoods west of EI Camino <br />Real into the downtown, including direct pedestrian crossings across the railroad <br />tracks, the realignment of streets and the addition of a traffic roundabout with <br />public open space. The Downtown Garage Foundation Upgrade will enhance <br />the safety of the garage by strengthening walls and the slab to withstand <br />hydrostatic pressure. <br /> <br />d. Both of these projects are authorized by the Redevelopment Plan <br />and the 2005-2009 Implementation Plan. <br /> <br />* <br /> <br />., <br /> <br />* <br /> <br />A TTYfRESOfRESO.1798 <br />030308 <br /> <br />2 <br />