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<br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF REDWOOD CITY <br />DOES HEREBY RESOLVE AS FOLLOWS: <br /> <br />Section 1. The City Council hereby approves the "Recommended <br />Appropriation Revisions for Fiscal Year 2008/09", as shown on the Table attached <br />hereto as Exhibit A and incorporated herein by reference, in order to enable the Agency <br />to make the required ERAF payment pursuant to AS 1389, and any necessary <br />amendments to the Agency Budget for Fiscal Year 2008-09 to implement such <br />appropriations. <br /> <br />Section 2. The City Council hereby approves the proposed Memorandum of <br />Understanding (the "MOU") between the Agency and Target Corporation, including the <br />appropriation of the Target Grant of $30,500 (ItTarget Grant") for use by the Agency in <br />its Downtown Development Program operating budget. As such funds must be spent in <br />accordance with the MOU; no budget amendment is required for the Target Grant. <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />ATTY/RESO/RESO.1897 <br />0414091Y <br /> <br />2 <br /> <br />6.28 <br />Page 8 <br />