AgdaPkt 2009-04-27 - Laserfiche WebLink

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:.::.::;.... -:~.: ~ !. :: :.:": .: <'.:/.r:~L'\j:).:;:~~:..{:..:::< \:;':. :.::;..: :..:':. ~ ::': ':.::. :;....::. ~ . ::. ::". .... '. ". ........:................ ................. .... ~ \:'.:':'::.: :'.:. ...:: ::.:.' 6.28 Page 1 ..;:';nm:n'n.:.m+r.::..:. .. '~.:.~<<i.\.:...'.:>iH >R.I;~/rn~:.."'~R~i:~(.I..~~.<.:/ :....: ::.. f..:..:.....:....;.:<:.:::.;:.....:..:;::... ..... '. .....: :'. ..t~' . ".:.': ~~. ';.: .... ". .'. .'. . .'. . ~ . :: . .'.:.:: :". '. . '. : '.' .'. '. .': . :: ; . .:~ . ~ '. ;';':'j: . ". . ..:.;.\~....i...;....~;.:;~.:~..:;..~..:.:.'.:.{.:..;...~..::.:~....~,:;...~.~:.:\.::.~~.;;:...;:..: ': ...J '. ';>::: :"; ::~ ::. ".Y.~:; '. . :.: ': '. '. ". . ....: : . .:.......;......~.. ..::.:.f.:...~.; ~:; .:.:.~::~.:.::::'~' :.~' ~ .::.>.: :..:::::..~:.~.,.,~.?~:...~ ~ .:?!:.:.:~..:.::::.... ::..:?;;:'.~.:.:~.: ..... ....... "~' . ....:.. .:.: :.':' .....:. .:.:-:.:..~..~:...:.:).:..:l::..~.(::~.::.:. ~:::/) .-.:;.... <...:...::::~ :....::..;:;:...://;:-: .:.:;...::..... .. ; ).;'. :...:.\.\. .:.:~ ::\.::::: April 27, 2009 SUBJECT Fiscal Year 2008/2009 Appropriation Revisions for Redevelopment Agency (RDA) Operating and Capital Budgets RECOMMENDATION A. RDA Board approve, by resolution, amendment to the FY 2008/09 operating and capital budgets as follows and authorize the execution of the MOU with Target Corporation: 1. Appropriate $136,291 from RDA General Fund Operating budget "Working Capital Balance" to the Educational Revenue Augmentation Funds C'ERAF") payment required pursuant to AB 1389. 2. Appropriate $400,000 from the RDA General Capital Budget "Contingency" to the ERAF payment required pursuant to AB 1389. 3. Appropriate $200,000 from the RDA General Capital Budget "Downtown Garage Foundation Upgrade" to the ERAF payment required pursuant to AS 1389. 4. Appropriate the $30,500 grant from Target to the RDA General Fund Operating budget ("Downtown Development Programs") for downtown summer programs pursuant to the terms of the grant agreement. 5. Authorize the Executive Director and Agency Secretary to execute the MOU on behalf of the Agency, and to take such actions as may be necessary to carry out the obligations of the Agency under the MOU. B. City Council approve, by resolution, amendment to the RDA FY 2008/09 Operating and Capital Budgets as described above in items A(1-4). BACKGROUND AS 1389 was approved as part of the FY 2008/09 state budget adopted in the fall of 2008. AB 1389 authorizes a one-time take of $350 million in redevelopment funds statewide. Redwood City Redevelopment Agency's portion of that payment is $736,291. The RDA's FY 2008/09 budget must be amended to appropriate the funds to make the payment, which is due to the San Mateo County auditor by May 10, 2009. Late in 2008, the California Redevelopment Association (CRA) and the Cities of Moreno Valley and Madera filed a lawsuit (CRA v. Genest) in Sacramento Superior Court seeking to invalidate sections of AB 1389 and to prohibit the State from forcing county auditors to divert redevelopment funds to ERAF. The lawsuit contends that State takes of redevelopment funds to balance the State's budget violate Article XVI, Section 16 of the Constitution. The hearing on the merits of the lawsuit was held on March 6 before the same judge that earlier granted CRA's request to certify all county auditors in counties with redevelopment agencies as a class of defendants in eRA's lawsuit against the State. No ruling was issued, and the matter will come back to the court in late April. In the