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4 -A_ / <br />REPORT <br />To the Redevelopment Agency Board <br />From the Executive Director <br />June 23, 2003 <br />Subject <br />Request for RDA funds for Canada College Education and Technology Center <br />Recommendation <br />Authorize the Redevelopment Manager to execute an agreement with Canada College for <br />reimbursement of FY 02 -03 building costs in an amount not to exceed $80,000 for the <br />Canada College Education and Technology Downtown Center; and, appropriate funds from <br />"Economic Development" in the Agency FY 02 -03 operating budget for this agreement. <br />Background <br />The Canada College Education and Technology Downtown Center has been providing small <br />business owners with assistance for 4 years in downtown Redwood City. Numerous services <br />are available to aide primarily low to moderate income residents of Redwood City with <br />existing or start -up businesses. For many, these services would not otherwise be available <br />due to costs. <br />As the economy has suffered recently, these services are now more important than ever <br />because they support and encourage the incubation of new business. Over the period of the <br />operation in downtown, the Center, by providing support for approximately 40 businesses, <br />has been indirectly responsible for the creation of over 50 jobs. <br />Last year when the Housing & Human Concerns Committee reviewed proposals for <br />Community Development Block Grant (CDBG) funding, they had to consider the fact that <br />there was less money to allocate than previous years. The City received a reduced CDBG <br />grant amount, down from $979,000 to $957,000. While Canada requested $195,581 in <br />funding, HHCC recommended CDBG funding in the amount of $107,400. Because they were <br />concerned about the needs of small businesses in the current economy, HHCC also <br />recommended that Canada request funding from the Redevelopment Agency for the <br />additional $88,181. <br />Due to a number of factors, including the extended illness of the Housing Coordinator as well <br />as the reorganization of the housing and redevelopment functions, the Agency Board has <br />never been asked whether RDA funds should be allocated to this activity, and a decision <br />needs to be made before June 30, 2003. Canada officials have stated that they proceeded <br />with the programs in the downtown facility in FY 02 -03 thinking they were assured of the <br />funding commitment for redevelopment funding. <br />