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<br />Attachment 2 <br /> <br />88 <br />Page 4 <br /> <br />FINAL <br /> <br />REDEVELOPMENT AGENCY <br />ANNUAL BUDGET REPORT <br />FISCAL YEAR 2009-2010 <br /> <br />State redevelopment law requires the adoption of an annual budget for the <br />Redevelopment Agency (RDA) containing the proposed expenditures of the <br />Agency, antic"ipated revenues, proposed indebtedness to be incurred, work <br />program and goals for the coming year, as well as an examination of the <br />previous year's work program. The budget must also include all activities to be <br />funded by the low and moderate income housing fund established pursuant to <br />law. An annual written determination explaining the necessity of charging <br />planning and general administrative expenditures to the low and moderate <br />income housing fund is also required and verified as part of the annual audit <br />process. <br /> <br />The report summarizes the work program and goals for FY 2009/10 and the <br />proposed operating and capital budgets for both the general fund of the Agency <br />" as well as all activities proposed to be funded by the low and moderate income <br />housing fund. It also examines the Agency's achievements related to the work <br />program for FY 2008/09. <br /> <br />WORK PROGRAM AND GOALS FOR FY 2009/10 <br /> <br />The elimination of blight is a multi-year work program. The Agency's work <br />program is guided year to year by several items, including the Agency's Five <br />Year Implementation Plan, the Downtown Precise Plan (DPP), the City's newly <br />adopted Strategic Plan, the guiding principles adopted as part of the new <br />General Plan adoption process, the previous year's budget report, and market <br />opportunities and constraints. <br /> <br />While a lawsuit and court ruling requires the reconsideration of the DPP and its <br />environmental clearance, the principles and recommended implementation <br />actions contained in Books I and III are consistent with the adopted <br />Redevelopment Plan and can continue to guide the Agency's work program. <br /> <br />RDA General Fund <br />The proposed work program and goals for the RDA general fund for FY 2009/10 <br />are as follows: <br /> <br />1. Continue financial and staff support of Downtown events and promotions, <br />including emphasis on securing sponsorships, ongoing private-sector <br />support, expanded community programming and adoption of City Code <br />Chapter 33 revisions for Courthouse Square. The revisions will more <br /> <br />1 <br />