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8-3 Attachmen# 1 Page 5 8. Work wi#h the Homeless �utreach Team {H�T) to identify an approQriate site for affordable housing fihat could help address #he needs of the chrvnically homeless, PRQP�SEQ FY 2049110 BUDGET RDA General Fund �See Exhibit A} The proposed operating budget for the Agency's general fund in FY2009/10 reflects just a few changes from the 2008109 budget. Tax increment revenue is an#icipated to increase by approximately $885,000. Interest revenue is lower by some $54,000 due to the continued drawdown of funds for capi�al projects completed over the last 5 '/z years. Pass-through payments to other taxing agencies will be higher than the previous year due to #he projected increase in revenue. The interest payment on the City 1oan, which increased by some $115,000, is stipulated in the Debt Service Schedule of the {oan agreemen# executed in 20Q5. All other opera#ing costs remained basically constant with the exception of Downtown De�elopment Programs {events and market�ng}, which is lower by almost $87,000. That difference, if needed, will be funded out of "Supplies and Services", which includes consultanfi contracts required for the implementation of the events programming. There will be no reduction in downtown events in the new fiscal year. Funding for the Downtown Code Enforcement posi#ion also continues. Tne proposed capital budget for the Agency's general fund in FY 2009/10 includes the second year of funding for the Downtown Banner Program. A bid for the design of new banners as wef! as services related #o the installation, rotation, and maintenance of all dawnfiown banners wi11 be solicited and awarded. Additional holiday decorations and iighting may also be purchased. There is also an additional $'i 00,400 recommended for the Marina Area #o fund feasibil�ty and planning studies that may be required. Finally, $540,Q00 in RDA funding for the ° Hoover Mobility Project is reeommended to implement the impro�ements described under"FY 08/09 Accomplishments" later in #his repor�. RDA Housing Funds (See Exhibit B} In Fiscaf Year 2009/10 the proposed operating budget for housing set-aside funds is basically the same as #he FY 20�8/09 budget. An additional $1 million in the capital budget is proposed for the Brad#ord Street Projecfi. The planning and general adminis#rative expenses in the housing budget, funded by �ow and moderate income housing set�aside funds, are required to fulfili the priorities of fihe Agency's affordable housing requirements and goals. The revolving home improvemenfi loan program will con#inue. There are two current active Ioans, one of which is in default. Staff is working with the 3