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<br />5. Approve by resolution, Inter-Fund Loan Agreement for the transfer of funds for <br />the purchase of real property, 1402 to 1450 Maple Street; <br /> <br />RESOLUTION NO. 14933 ESTABLISHING LOAN AGREEMENT AND TRANSFER OF <br />THE SUM OF $2,500,000 FROM THE REDWOOD CITY SELF-INSURANCE TRUST <br />FUND TO THE REDWOOD CITY CAPITAL OUTLAY FUND <br /> <br />6. Authorize the City Manager to negotiate a lease with the Bair Island Aquatic <br />Center (BIAC). Minute Order 09-080 <br /> <br />Mr. Ingram provided some opening remarks related to finding opportunities during tough <br />times. He acknowledged the Council's guidance on this issue and how the funds used for <br />this purchase are not usable for general fund purposes (employee costs). He provided an <br />overview of the Council's actions tonight with the caveat that if there are surprises then <br />staff will come back to Council for further direction. He also covered the benefits of this <br />possible acquisition. He acknowledged the work of a team of experts who facilitated the <br />negotiations and looked after the City's best interest. <br /> <br />Public Comment <br />Lynn Chou Jonas thanked city staff for agreeing to the salary freeze. She hopes the <br />Council approves the recommendation and she finds this a rare opportunity for the city to <br />be in control of the bayfront. She supports the suggestions for the use of the property. <br /> <br />Doug Karlson and Peter Allen Members of the Bair Island Aquatic Center made <br />themselves available to answer questions. <br /> <br />One Council Member said that there is danger and opportunity in this action. Another <br />Council Member commented that this is a great opportunity. <br />1 <br />M/S Pierce/Ira to approve items one through four. Motion carries 6-0 by electronic vote <br />with Vice Mayor Howard absent. <br /> <br />M/S Pierce/Ira to approve the resolution. Motion carries 6-0 with Vice Mayor Howard <br />absent. <br /> <br />M/S Pierce/Ira to approve recommendation six. Motion carries 6-0 with Vice Mayor <br />Howard absent. <br /> <br />C. First Study Session - Capital Improvement Projects Budget for Fiscal Year <br />2009/2010. <br /> <br />Recommendation: <br />Review the proposed Capital Improvement Projects (CIP) Budget for Fiscal Year <br />2009/2010 for consistency with City Council's strategic plan initiatives and provide <br />direction to staff. The budget will be revised accordingly and returned to Council <br />for final consideration during formal budget review scheduled in June 15 and June <br />22, 2009. <br /> <br />Mr. Chu Chang explained what has been accomplished in 2008/2009. He thanked all the <br />Departments in the City for their support. Mr. Vorametsanti, Acting Manager of Eng. and <br /> <br />JOINT CITY COUNCIUREDEVELOPMENT AGENCY MEETING <br />MINUTES <br /> <br />APRIL 27,2009 <br />PAGE 7 <br />