AgdaPkt 2008-03-10 - Laserfiche WebLink

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7E age 1 March 10, 2008 SUBJECT Fiscal year 200712008 Appropriation Revisions for Redevelopment Agency (RDA) Operating and Capital Budgets ReCOMMENDATION Approve the resolutions making findings pursuant to Health & Safety Code Section 33445 and amending the RDA FY 2007/08 Operating and Capital Budgets as follows: 1. Appropriate $60,500 from the RDA General Fund "Working Capital Balance" to "Employee Services" (including benefits) to add the equivalent of .36 FTE Recreation Coordinator II, .25 FTE Recreation Manager and part-time casual staffing support to help coordinate, implement and promote "Summer In the City" programming and special events and activities in the Downtown through June 30, 2008. 2. Appropriate the $50,000 grant from Target to the RDA General Fund Operating budget (Economic Development Programs) for Downtown Programming concerts pursuant to the terms of the agreement. 3, Appropriate $600,000 from the RDA General Fund 'Working Capital Balance" to the RDA Capital budget for "Transit Connectivity Project" (#803-72023). 4. Appropriate $ 650,000 from the RDA General Fund "Working Capital Balance" to the RDA Capital budget for a new capital project: "Downtown Garage Foundation Upgrade Project". 5. Appropriate $1.1 million from the RDA Housing Set-Aside Fund "Working Capital Balance" to the RDA Housing Capital budget: "Housing Projects- GenerallLandbanking" (#806-71953). 6. Appropriate $1 million from the RDA Housing Set-Aside Fund 'Working Capital Balance" to the Bradford Street Project (#806-71625). BACKGROUND The proposed mid-year budget adjustments for the RDA general and housing budget generally fall into two categories: (1) staffing support from the Parks, Recreation and Community Services Department (PRCS) for the 2008 "Summer in the City" program and other special event planning and implementation related to the Downtown; and (2) the transfer of funding from the unallocated "working capital fund balances" in both the general and housing budgets to capital projects for seed money related to Depot Circle and the train station area; potential improvements to downtown parking facilities; and additional funding for the Bradford Street Project and other affordable housing opportunities (See Attachment 1, Table of Recommended Appropriation Revisions).