AgdaPkt 2008-07-21 - Laserfiche WebLink

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_:>~'~"T_~~~~,~;w"#,:...~;;=Q~~~~-B[':;-.j)':.1'::'<.';~;.~~.04.,';_;:~.;;..~~~i~)i<~~~:}1.~).;*.~..;,:,:~.~,,--_:--_:::...:..,~"';,.;,~:,-~.o;;,;O.:'~4;~-~.,,';Q.-;.::.,;:;;..;r~-"-i1-':i:~~~~~"'~' ;>-"-:'f:.:-..~.'"",":--"l---""'''''''-' ._,.n ....>- .-. 6.2A Page 7 June 23, 2008 SUBJECT Redevelopment Agency Budget for Fiscal Years 2008109 & 200911 0 ReCOMMENDATION Review the proposed Redevelopment Agency Budget for Fiscal Year (FY) 2008109 and 2009110 and consider adoption by resolution on July 21, 2008. BACKGROUND State redevelopment law requires the adoption of an annual budget for the Redevelopment Agency (RDA) containing the proposed expenditUres of the Agency, anticipated revenues, proposed indebtedness to be incurred, work program and goals for the coming years, as well as an examination of the previous years work program. The budget must also include aU activities to be funded by the low and moderate income housing fund established pursuant to law. An annual written determination explaining the necessity of charging planning and general administrative expenditures to the low and moderate income housing fund is also required and verified as part of the audit process. The mandated report for the State will be prepared with all of the detail required for compliance with State law after Council review of the budget in this study session. It will include the infonnation contained within this staff report and any modifications recommended by the Agency Board as part of their study session deliberations. It will be attached to the budget resolution scheduled for adoption in July, 2008 as "Final Redevelopment Agency Budget for Fiscal Year 2008109". Pursuant to requirements of State law, the information that follows summarizes the Agency's accomplishments in FY 2007108, priorities for the upcoming fiscal year, and the recommendations for funding for the new fiscal year. FY 2007108 RDA General Fund Accomplishments The past year has been one of acknowledgements and awards for the Downtown revitalization activities undertaken by the RDA and City the past five years. Awards from the Congress for New Urbanism. the California Redevelopment Association, the American Planning Association (California Chapter Northern) and the Grand Boulevard Initiative recognized Courthouse Square, Theatre Way and the Broadway Streetscape Improvements, the Historic Courthouse Fayade Restoration, the Downtown Precise Plan and the Villa Montgomery affordable housing project as outstanding examples of good public spaces, responsible, sustainable planning, and the creation of good affordable, livable, pedestrian-friendly places and projects. The 'Summer in the City' program that premiered in the summer of 2007 also brought regional recognition to the City and Agency. The City was honored by the San Mateo County Arts Council as recipient of the Diamond "Government Support" Award for 2007