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8B <br /> proposes funding a more aggressive repiacement program than in the past. We have Page 2 <br /> made sign�cant headway in the past 15 years but we have much more to do to ensure <br /> that cr�ical sys#ems and facilities are replaced afiead of costly repairs and/or failure. <br /> GID 1-64 <br /> No new projects or changes are proposed at this time. This fund is at a unique paint in <br /> its histary. In the past, the Gene�-a1 improvement Di�trict 1-64 Facility Fund (GID 9-fi4} <br /> has #unded public infrastruc#ure for ongoing development in Redwood Shores. As the <br /> tast of that deveiopment, "The Preserve" has been proposed; the developer seeks to <br /> amend the existing Development Agreement to phase out the GID 'I-64. Staff will retum <br /> to Councif via the G!D 1-64 Committee witf� a mid-year budget recommendation and/or <br /> a recommended amendmen#to the Development Agreemenf. <br /> RQA <br /> The Redevelapment Agency (RDA) anticipates an annual CiP revenue of $3M #or FY <br /> 2008/20�9 and FY 2009f10�0. Funds are programm�d primariiy into the Mousing <br /> portion of the program. The Agency Board recentfy approved a mid-year (FY <br /> 20�?/Z@08) adjusiment to the R�A CiP; thus changes in the � 2008/2U09 budget are <br /> modest. <br /> A��r�R�ATn►�S <br /> Repriori#ize proposed funding. <br /> FISCAL IMPACT <br /> The recommended CIP budget totals $15,530,370 for FY 2008f2009. The <br /> recommended C1P budget totals $17,998,307 #or FY 2Q09/2010. Please see <br /> attachments. <br /> � <br /> i � <br /> � E r <br /> � <br /> S: Peter Vorametsan�, P.E. Chu Chang, P.E.,Acting Director <br /> S�Spervising Civil Engineer Commun�ty Devebp►nen#Services <br /> ������� �a� <br /> Pefier ingram <br /> interim City Manage� <br /> ATTACNMENTS <br /> 1. Capital Improvement Projects by Funding Source far 2Q08109 and 2009110 <br /> 2. Five Year Projected Capital Improvement Program Budget <br /> RELATED DOCUMENT3 IN Ct'PY CL€RK'S OFFICE <br /> Nor�e <br />