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REDEVELOPMENT AGENCY <br />-- OF <br /> THE CITY OF REDWOOD CITY <br /> 1988-89 BUDGET <br /> <br /> Expenditures <br /> <br /> 1. Operations <br /> Administration $234,531 <br /> Loan Repayment 278,000 <br /> Professional Services 150,000 <br /> <br /> Total Operations $662,531 <br /> <br /> 2. Low Income Housing Fund <br /> Grant to H.I.P. $ 50,000 <br /> <br /> 3. Capital Outlay <br /> Center Sub-Area Acquisition $ 926,200 <br /> Payment to CDBG Program 73,800 <br /> Gateway sub-Area Acquisition 8,736,000 <br /> Total Capital Outlay $9,736,000 <br /> <br /> Total Expenditures $10,448,531 <br /> <br /> Source of Funds <br /> Tax Increment* $962,000 <br /> Developer Advances $8,025,000 <br /> <br /> $8,987,000 <br /> <br /> Deficit** $1,461,531 <br /> <br /> *20% of tax increment revenues are deposited to the Low Income <br /> Housing Fund. <br /> <br /> **To be financed by a loan from City. <br /> <br /> <br />