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<br />7.ß-L.{ <br /> <br />the balance will partially fund the Fee Subsidy. The balance of the Fee Subsidy, estimated <br />at $41 ,000 maxi mum, will be requested from the Agency Board as part of the Agency's FY <br />2005/06 budget process. <br /> <br />Conclusion <br />Pursuant to California redevelopment law, notice of the public hearing was published in <br />the Redwood City Daily News on February 14, 2005 and February 21,2005. As required <br />by law, a packet containing a copy of the proposed DDA and the Summary Report, which <br />sets forth the cost of the agreement to the Agency and the financial terms of the <br />transaction, has been available for public review in the Clerk's office since February 14, <br />2005. <br /> <br /> <br />Patterson <br />ommunity Development <br />Services Director <br /> <br />Staff recommends that the City and the Agency adopt the resolutions authorizing execution <br />of the DDA and the subsequent transfer of land. - <br />1/ <br /> <br />~çlðAt' #~ <br /> <br />san ~eller I' <br />Red$Velot ~ Mana er <br />~ / ./ J <br />.~ f1 ' <br />Ed E erett <br />City Manager <br /> <br /> <br />Attachments <br />1. Resolutions <br />2. Summary Report <br /> <br />Redevelopmentshared/2005 Staff ReportslO2-2005/PHH DDA <br /> <br />Page 4 of 4 <br />