AgdaPkt 2003-07-14 - Laserfiche WebLink

Browse Search

10.6-3q REPORT To the Redevelopment Agency Board From the Executive Director July 14, 2003 Subject Review of Redevelopment Agency Budget for 2003 -2004. Recommendation Staff recommends that the Agency Board review this document in Study Session on July 14, 2003, and then adopt the Agency Budget by motion on August 11, 2003. Background Staff is pleased to present the recommended Capital Improvement Budget and Operating Budget for the Redevelopment Agency. The focus of these recommended budgets is on implementation of City Council and Agency Board priorities, primarily for the redevelopment of the downtown core. Agency Capital Improvement Program Budget The focus of the Capital Improvement Program (CIP) Budget or "Downtown Funding Plan" this -- year is on a series of projects that are important for the revitalization of downtown. • Jefferson Garage and Block 2 Surface Parking. This includes a 596 space, 2- level, public parking garage to be constructed under the Retail /Cinema project at the intersection of Broadway and Jefferson, as well as the expansion of the surface lot on Block 2 (corner of Jefferson and Middlefield) from some 200 spaces to 300 spaces. These public facilities will provide parking for customers of downtown businesses. • Land Assembly for Parking. This will complete the funding necessary for the acquisition of the garage site (Block 1) and the expansion of the surface lot on Block 2. Air rights development over the garage will make the Retail /Cinema project a reality. • Historic Courthouse Restoration and Plaza. This includes removal of the Annex on the Broadway frontage, restoration of the historic fagade of the Courthouse, and the creation of a public plaza that will serve as the "Town Square" of Redwood City. • Downtown Streetscape Improvements. This includes "Theater Way' between Fox Theater and the new Retail /Cinema Project and necessary modifications to Broadway. • Culvert Relocation. This is the relocation of the underground storm drain culvert out of the site of the Jefferson Garage. • Miscellaneous Downtown Projects. This will include a series of projects to improve the "legibility" of downtown as well as the pedestrian experience. Included are