AgdaPkt 2003-07-14 - Laserfiche WebLink

Browse Search

10. �141 PROPOSED REDEVELOPMENT AGENCY BUDGET FOR 2003 -2004. State Redevelopment Law requires the adoption of an annual budget for the Redevelopment Agency ( "Agency ") containing the proposed expenditures of the Agency, anticipated revenues, proposed indebtedness to be incurred, work program and goals for the coming year, as well as an examination of the previous year's achievements and a comparison of the achievements with the goals of the previous year's work program. The budget must include all activities to be funded by the Low and Moderate Income Housing Fund established pursuant to the Law. A review of the 2002 -2003 goals and work program for both the Redevelopment General and Housing funds is shown separately as Attachment 1. The proposed expenditures and revenues for 2003 -2004 for the "Redevelopment" budget, as well as proposed indebtedness to be incurred and the work program and goals for the coming year are discussed below. REDEVELOPMENT GENERAL FUND The proposed operational and capital budgets for the Redevelopment Agency's "General" fund reflect Council /Agency Board priorities established previously. The Council priorities for downtown improvements included (1) creation of an implementation plan for the Downtown Plan (including possible additional committees), and (2) implementation of the Courthouse Plaza Restoration. The proposed budgets also provide funding to implement the Agency responsibilities pursuant to the Amended Disposition and Development Agreement ( "DDA ") with BHV Innisfree Ventures for the development of the Retail /Cinema Project approved by the Council /Agency Board in December, 2002. The downtown vision reflected in the Downtown Plan took major steps forward this past year. In addition to approving amended business terms related to the development of the Retail /Cinema Project, the Council /Agency Board engaged the community and design professionals in an ongoing dialogue to begin to define the details of what makes a good downtown, the relationship between housing density and design, and good streetscape and public places design. Contracts for the design of a restored Courthouse facade, demolishing the Courthouse Annex on Broadway, and for the design of the Plaza were approved. The plans for the Courthouse Facade restoration and demolition of the Annex are complete. The design of the Courthouse Plaza is about to commence with a series of community workshops to begin in August, 2003. 2003 -04 WORK PROGRAM The work program and goals for 2003 -2004 continue the progress made in 2002 -03. They include: 1) Completion of the land assembly process for Block 2 (bounded by Jefferson, Middlefield and Broadway) for the parking structure. 2) Relocation of the boxed culvert enables the construction of the public underground parking structure to proceed. 3) Relocation of all necessary utilities in order to allow construction of the public underground parking structure.