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8-3 <br /> Attachmen#1 Page 3 <br /> DRAFT <br /> REDEVELOPMENT AGEMCY � <br /> ANNUAL BUDGET REPC�RT <br /> FISCAL YEAR 2449/1Q <br /> State redevefvpment law requires the adop#ion of an annual budget #or the <br /> Redevelopment Agency (RDA) containing the proposed expenditures of the <br /> Agency, anticipated re�enues, proposed indebtedness to be incurred, work <br /> program and goais for the coming year, as weli as an examination of the <br /> previous year's work program. The budge# must also include a11 activities to be <br /> funded by the low and moderate income housing fund es#ablished pursuant to <br /> law. An annuaf written determination explaining the necessity of charging <br /> planning and generai administrati�e expenditures #o the low and moderate <br /> income housing fund is also required and verified as part of the annual audit <br /> process. <br /> The report summarizes the work program and goals for FY 20�9/10 and the <br /> proposed operating and capitai budgets for bo#h the general fund of the Agency <br /> as well as all activities proposed to be funded by the 1ow and moderate income <br /> housing fiund. It also examines the Agency's achievements related to the work <br /> program for FY 20Q8109. <br /> WORK PR�GRAM AND G�AL.S FOR FY 2009110 <br /> The elimination of blight is a rnulti-year work program. The Agency's work <br /> program is guided year to year by several i�ems, including the Agency's Five <br /> Year Implementation Plan, �he Downtown Precise Plan 4DPP}, the Ci#y's newly <br /> adopted Strategic Plan, the guiding principles adopted as par# of #he new <br /> General Plan adoption process, the previous year's budge# report, and marke# <br /> opportunities and constraints. <br /> While a €awsuit and court ruling requires #he reconsideration of the DPP and its <br /> environmental clearance, the principles and recommended implementa#ion <br /> actions contained in Books I . and lil are consistent with the adopted <br /> Redevelopment Plan and can continue to guide the Agency's work program. <br /> RDA General Fund <br /> The proposed ►nrork program and goals ior the RDA general fund for FY 20�91'!0 <br /> are as follows: <br /> 1. Continue financial and staff support of Downtown e�ents and promotions, . <br /> including emphasis on securing sponsorships, ongoing private-sector <br /> support, expanded community programming and adoption of City Code <br /> Chapter 33 rev�sions for Courthouse Square. The revisions wrll more <br /> 1 <br />