AgdaPkt 2008-07-21 - Laserfiche WebLink

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6.2A In terms of the budget, the Agency Board may chpose to modrty the proposed Page 2 administrative and capital expenditures as they feel appropriate as long as the modifications are consistent with state redevelopment law. If the Board should elect to increase expenditures, staff will need to determine whether sufficient resources would be available to support such increases. Alternatively, should the Board elect to reduce the proposed expenditures then additional resources would be available for spending in subsequent years, assuming the state does not use those funds for balancing its budget. The Agency Board and/or the City may choose not to approve the amendment to the administrative services agreement. The agreement would then not be current and some expenses might not be eligible for reimbursement or obligated as part of the Agency's indebtedness. FISCAL IMPACT Sufficient resources exist in the form of resources on hand plus anticipated revenues to fund the recommended budget. Formal approval of the budget will allow staff to proceed with the implementation of the work program consistent with Council priorities and Agency goals for the elimination of blight in the Redevelopment Project Area. ~/~~ ~!IIt/( RW~:~ Chu Chang, Acting C munrty Development Director ~ Patricia J. Webb ~ ~ Housing & Economic Development Manager Peter lngra ,Executive Director Redevelopment Agency and City Manager ATTACHMENTS 1. Agency resolution adopting the budget and approving the amendment to agreement. 2. City resolution approving the Agency budget and amendment to agreement. 3. Staff Report from June 23, 2008 study session. 4. Amendment No.1 to Agreement for Services RELATED DOCUMENTS IN CITY CLERK'S OFFICE Original Agreement for Services