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7C <br /> Page 9 <br /> I. introduction <br /> This implementa#ian plan for the Redwood City Redevefopment Project No. 2 has been <br /> prepared pursuant to the requirements of Section 33490 of the Caiifiornia Community <br /> Rede�elopment Law"CRL"tHealth and Safe#y Code}. Under the CRL, redevel�pment agencies <br /> are required to adop#a new impiementa#ion plan every five years. The purpose of this Pian is to <br /> serve as a multi-year planning document for the City of Redwood City Rede�etopment Agency <br /> tAgency),to estabiish the iink between the projects to be undertaken and the aileviation of blight <br /> in the Project Area, and to demonstrate Agency compliance with affordab{e housing production <br /> and expenditure requirements. As detailed in Section I.A.,the original Project Area was adopted <br /> on July 19, 1982. <br /> The Implementation P1an is intended #o guide execution of the Redevelopment 1'lan, while <br /> allowing flexibility to#he Agency to respond to specific redeveiopment oppo�tunities as they <br /> arise. The foilowing information must be presented in the Five-year Implemen#ation Plan: <br /> ■ The Agency's specific goals and objectives for the fi�e-year implemen#ation plan period <br /> {January 1, 2010 through December 31, 2414)for both non-housing and housing <br /> activities; <br /> • Anticipa#ed specific programs and expenditures for the five-year implementation plan <br /> period for both non-housing and hQUSing activities; <br /> ■ An explanation of how the goals, objectives, programs and expenditures wi�l assist in the <br /> elimination of blight; and <br /> ■ Specified information about the Agency's affordable housing program, including plans for <br /> deposits to and expendi#ures from the �ow and Moderate [ncome Housing Fund, and <br /> means to achieve the Agency's affordable housing production and income targeting <br /> obligations; <br /> ■ �ther infarmation reiated to the pro�ision of affordable housing. <br /> This implementation plan mus#be adop#ed after a noticed pubfic hearing. The law requires that <br /> the plan must be reviewed in a public hearing, and by inference amended, if desirable, between <br /> two and three years after adoption.A new plan is required every five years. <br /> Adoption of an implementation plan does not constitute an approvai of#he specific programs, <br /> projects, or expenditures,which allows f�exibilit�r for the Agency to adjust to changing or <br /> unforeseen market conditions,community needs, and priori#ies, and resident and deveioper <br /> interests. Consequently,should Agency assumptions not be realized or unforeseen <br /> circumstances arise, modifications to this Implementation Plan may be necessary. <br /> Keyser Marston Associates,Inc. Page 1 <br /> USf-fs1\wp11$118614118610.0051006-Q01.doc;DRAFT <br />