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<br />Recommendation: <br />Approve, by resolution, the proposed Proposition 1 A Purchase and Sale <br />Agreement in order to participate in the Proposition 1 A Securitization Program. <br /> <br />A RESOLUTION APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION <br />AND DELIVERY OF A PURCHASE AND SALE AGREEMENT AND RELATED <br />DOCUMENTS WITH RESPECT TO THE SALE OF SELLER'S PROPOSITION 1A <br />RECEIVABLE FROM THE STATE; AND DIRECTING AND AUTHORIZING CERTAIN <br />OTHER ACTIONS IN CONNECTION THEREWITH <br /> <br />B. Budget direction for Fiscal Year 2009/10 General Fund amendments. <br /> <br />Staff Contact: Peter Ingram, City Manager 780-7300 pingram@redwoodcity.org <br /> <br />Recommendation: <br />Assuming City Council approval to participate in the Proposition 1 A Securitization <br />Program as recommended in a separate, preceding staff report on this date, by <br />motion, direct staff to return to Council on Nov. 9, 2009 with a resolution <br />implementing budget reductions as described as "Package 1" herein, and equal to <br />$943,715, plus additional parking citation revenues of $75,000, for a total deficit <br />reduction of $1,018,715 on an annualized basis. <br /> <br />C. Pending State Takeaway of Redevelopment Tax Increment Revenues - <br />Redeve/ooment Aaencv Board. <br /> <br />Staff contact: Jeannie Young, Redevelopment Project Manager 780-7365 jyoung@redwoodcity.org <br /> <br />Recommendation: <br />Information only - no action required. Receive update on Redevelopment <br />Agency's budget and the potential impacts of pending State takeaway. <br /> <br />8. MATTERS OF COUNCIL INTEREST <br /> <br />A. Legislation (information only) . This sub-section involves possible discussion of <br />City Position on Proposed Legislation described in the League of California Cities <br />City Advocate Weekly Issue No. 39-2009. Council may direct staff to act on <br />positions taken by Council. (Copies of League of California Cities City Advocate <br />Weekly available in the City Clerk's Department). <br /> <br />9. ADJOURNMENT: TO REDEVELOPMENT AGENCY BOARD CLOSED SESSION <br /> <br />In accordance with SB 343, City Council agenda materials, released less than 72 hours <br />prior to the meeting, are available to the public at the City Clerk's Office, 1017 Middlefield <br />Road, Redwood City, CA 94063. <br /> <br />JOINT CITY COUNCIL/REDEVELOPMENT AGENCY BOARD <br />MEETING AGENDA <br /> <br />OCTOBER 19, 2009 <br />PAGE 4 <br />