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<br />FISCAL IMPACT <br />The proposed budget amendments will reduce the funding available in the current fiscal <br />year for the "Contingency" and "Downtown Garage Foundation Upgraden capital <br />projects, leaving balances of $323,165 and $450,000 respectively. They will also <br />reduce the projected uWorking Capital Balance" for the current fiscal year from <br />$322,000 to an estimated $185,884. <br /> <br />6.28 <br />Page 3 <br /> <br />The Target grant of $30,500 provides funding for three Sunday family events as part of <br />the downtown programming for the summer of 2009. The grant pays for the additional <br />costs for the three events, with the exception of the marketing and promotional activities <br />assumed by the Agency/City per the Memorandum of Understanding and included in <br />the Agency budget for downtown programming. <br /> <br /> <br />--L- <br /> <br />~~ <br /> <br />Chu Ch ng, P.E. <br />Community Development Director <br /> <br />Patricia J. Webb' <br />Housing and Econo <br />Manager <br /> <br />Peter Ingram ~./ <br />City Manager and Executive Director, <br />Redevelopment Agency Board <br /> <br />ATTACHMENTS <br />1. Resolution of the Redevelopment Agency <br />2. Resolution of the City Council <br />3. Table of Recommended Appropriation Revisions FY 2008/09 <br />4. Target Memorandum of Understanding <br /> <br />RELATED DOCUMENTS IN CITY CLERK'S OFFICE <br />None <br />