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9 -A 957, -
<br />consisting of three divisions, revenue services, information technology, and financial support
<br />operations for the City, with over $100 million in annual revenues. Prior to Joining the City, Mr.
<br />Ponty served as a management analyst for the County of San Mateo and a cost planning
<br />analyst for Del Monte Foods, Inc. Mr. Ponty has taught finance and accounting classes at
<br />Golden Gate University in San Francisco.
<br />Susan F. Moeller, Redevelopment Manger. Ms. Moeller was hired in July 2002 as the
<br />Downtown Developer Coordinator and promoted to Redevelopment Manager in March 2003.
<br />She supervises the functions of redevelopment, housing, economic development and the federal
<br />block grant programs. Prior to joining Redwood City, Ms. Moeller worked for the city of
<br />Cathedral City for 9 years, the last 5 years as Redevelopment Director. She has worked in the
<br />field of community development and redevelopment for over 25 years, including the cities of
<br />Hayward, San Leandro, Whitler, Garden Grove, Santa Ana and Fresno.
<br />Powers
<br />The Agency is charged with the responsibility of eliminating blight within its
<br />redevelopment project areas through the process of redevelopment. Generally, this process
<br />culminates when the Agency disposes of land for development by the private sector. Before
<br />this can be accomplished, the Agency must complete the process of acquiring and assembling
<br />the necessary sites, relocating residents and businesses, demolishing the deteriorated
<br />improvements, grading and preparing the sites for purchase by developers and providing for
<br />ancillary off -site improvements.
<br />All powers of the Agency are vested in its five member;. The Agency exercises all of the
<br />governmental functions authorized under the Redevelopment Law in carrying out projects and
<br />has sufficient broad authority to acquire, develop, administer and sell or lease property,
<br />including the right of eminent domain and the right to Issue bonds, notes and other evidences of
<br />indebtedness and expend their proceeds.
<br />The Agency can clear buildings and other improvements and develop as a building site
<br />any real property owned or acquired, and in connection with such development, cause streets,
<br />highways and sidewalks to be constructed or reconstructed and public utilities to be installed.
<br />Redevelopment in the State of California may be carried out under the Redevelopment
<br />Law. Section 33020 of the Redevelopment Law defines redevelopment as the planning,
<br />development, replanning, redesign, clearance, reconstruction or rehabilitation, or any
<br />combination of these, of all or part of a survey area and the provision of such residential,
<br />commercial, industrial, public or other structures or spaces as may be appropriate or necessary
<br />in the interest of the general welfare, including recreational and other facilities incidental or
<br />appurtenant to them.
<br />The Agency may out of the funds available to it for such purposes, pay for all or part of
<br />the value of land and the cost of buildings, facilities, structures or other improvements to be
<br />publicly owned, to the extent that such improvements to be publicly owned are of benefit to the
<br />relevant project area in the removal of blight and no other reasonable means of financing is
<br />available. The Agency must sell or lease remaining property within a project area for
<br />redevelopment by others in strict conformity with the redevelopment plan, and may specify a
<br />period within which such redevelopment must begin and be completed.
<br />Financial Information
<br />Included in this Official Statement, as Appendix B, are the audited financial statements
<br />of the Agency for the Fiscal year ended June 30, 2002. The Agency's financial statements are
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