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<br />implementation and promotion of the downtown "Summer in the City" <br />programming, special events and activities through June 2008; <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 />foundation; <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 Project will determine the feasibility <br />of monitoring ground water level and water pressure, identify long term options of <br />eliminating water pressure or sustaining pressure, and evaluate the quality of <br />ground water to provide additional service for Redevelopment project areas by <br />analyzing the long term viability of the pumping system currently in use given the <br />fact that much more water is being pumped through the system than originally <br />projected. Both of these projects are authorized by the Redevelopment Plan and <br />the 2005-2009 Implementation Plan. <br /> <br />A TTY/RESO/RESO.1798 <br />031308 <br /> <br />2 <br />