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<br />in.r~cogniiion of the"cu.lturaladiviti~:Sc on the Squ~re/ T~ec;omm~~itYceleblaft1iJet~ ,of 40
<br />new Gourthouse Square 'with free concerts; movies;,' danceless?ns;art;Sbakespeare '
<br />plays,noontime perforrnancE3s', a blues festival and 'th~'Our,Town;.Dc,wntown'jestival.
<br />'s.ummer 200BwiH 'bring ,an" expanded program ofenterta,iiiment, lnc,lud}ng"':cultural',
<br />performances from <?ermany, d Ghana and Hussia ~si:~ellasthe Target FarTlily pays',
<br />funded primarily bya generous grantJromTargeL':-" ,,:,'.::, , ,'" ::' ..: "',' .'. "', "
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<br />FY 2007/08 saw the completion of several other priority projects identified in the work
<br />program, including (1) the Gateways and Signage Project (directional and wayfinding
<br />program) (2) the Post Office Paseo Project (3)" "Theatre Way II" improvements to
<br />Middlefield between Veteran's and Broadway: The Downtown Parking Management ,
<br />Program was also fully implemented and refinements continue to be made to enhance
<br />customer satisfaction, address current market realities, and. maintain the ability to
<br />manage parking resources in, a manner that can accommodate fu.~ure retaJI expansion
<br />and increases in activity. In addition, the Phantom Gallery program was'initiated with
<br />the installment of 14 exhibits in the vacant retail space in the retail/cinema complex, a
<br />seasonal banner program has been developed, and the "branding" of downtown as an
<br />entertainr11entcomplex enhanced with the new Downtown VYOWcampaign launched in
<br />conjunction with the 2008 summer programming for Courthouse Square.'
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<br />'.' Several applications for housing :projects have, been received in response to the
<br />, appro,!al o! the Downtown Prec;ise;PI~D (DPP),,~hich could lead to ':the addition of 300
<br />units to the downtown. As p~r:tof furthering tbe goal~'of tht? DPP,Agency staff has also
<br />continued its . involvement in the EI'Camino Real Grand Bouievard .Initiative (GBI). This '
<br />included participation on,the, Working' Committee', a,nqinvolvementin both the
<br />development of the awards process, as well as the preparation of the award-winning
<br />applications for the DPP and Villa Mortg()mery. Staff also continued active involvement
<br />in the committee working with Caltrans to identify a more streamlined design exception
<br />process for EI Camino Real improvements. Finally,staff also maintained contact with
<br />SamTrans staff ,regarding the status of the Footprint Study a'nd the inclusion of an
<br />option and analysis related to the elevation of the train tracks pursuant to the DPP. .
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<br />A lease and license agreement for one of the vendor spaces in the Courthouse Square
<br />'pavilions was completed and the vendor is scheduled to open for business in the 4th
<br />quarter of FY 2007/08. A short term lease for another space was approved in May. It is
<br />anticipated that the other two spaces will be occupied by the end of FY 2008/09.
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<br />The proposed FY 2008/09 & 2010 RDA General Fund budgets (Attachment 1) and the
<br />RDA Housing budgets (Attachment 2) are reviewed in' greater detail below.
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<br />Proposed Redevelopment General Fund Operating Budget
<br />Estimated tax increment revenues for the RDA general fund are substantially reduced
<br />from previous years because this is the Fiscal Year that approximately $1.24 million of
<br />tax increment shifts back to the Housing fund pursuant to agreements with Legal Aid
<br />Society of San Mateo County. Tax Sharing Payments are also higher because of.an
<br />overall increase in tax increments from previous years.
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<br />The proposed RDA General Fund Budget for FY 2008/09 reflects an increase in
<br />Employee Services due to staff costs, related to,. downtown event programming.
<br />. Attachment 3 summarizes the, costs for FY 2008/09',relatedto downtown programming
<br />and the collaboration with ,thePark~and Recreation CommunitySerJic~s Department
<br />(PRCS). This summary includes both the' PRCS staff ser\iices'relatedto downtown
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