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Attachment 2 88 Page 6 8. Work with the Homeless Outreach Team (HOT) to identify an appropriate site for affordable housing that could help address the needs of the chronically homeless. PROPOSED FY 2009/10 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 2008/09 budget. Tax increment revenue is anticipated to increase by approximately $885,000. Interest revenue is lower by some $54,000 due to the continued drawdown of funds for capital projects completed over the last 5 % years. Pass-through payments to other taxing agencies will be higher than the previous year due to the projected increase in revenue. The interest payment on the City loan, which increased by some $115,000, is stipulated in the Debt Service Schedule of the loan agreement executed in 2005. All other operating costs remained basically constant with the exception of Downtown Development Programs (events and marketing), which is lower by almost $87,000. That difference, if needed, wilt be funded out of IISupplies and Services" 1 which includes consultant 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 position also continues. The 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 well as services related to the installation, rotation, and maintenance of all downtown banners will be solicited and awarded. Additional holiday decorations and lighting may also be purchased. There is also an additional $100,000 recommended for the Marina Area to fund feasibility and planning studies that may be required. Finally, $500,000 in RDA funding for the Hoover Mobility Project is recommended to implement the improvements described under IIFY 08/09 Accomplishments" later in this report. RDA Housing Funds (See Exhibit B) In Fiscal Year 2009/10 the proposed operating budget for housing set-aside funds is basically the same as the FY 2008/09 budget. An additional $1 million in the capital budget is proposed for the Bradford Street Project. The planning and general administrative expenses in the housing budget, funded by low and moderate income housing set-aside funds, are required to fulfill the priorities of the Agency's affordable housing requirements and goals. The revolving home improvement loan program will continue. There are two current active loans, one of which is in default. Staff is working with the 3