AgdaPkt 2011-12-12 - Laserfiche WebLink

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6.1. E. - Page 1 RE PO RT To the Redevelopment Agency Chair and Board From the Redevelopment A enc Executive Director December 12, 2011 SUBJECT Annual Report of the Redevelopment Agency of Redwood City (Redevelopment Agency) RECOMMENDATION Accept the FY 2010/11 Annual Report of the Redevelopment Agency of Redwood City BACKGROUND California Health and Safety Code 33080.1 requires that every redevelopment agency present an annual report to its legislative body ("Agency Board") within six months of the end of the Agency's fiscal year. The State does not require the Agency Board to take any action of the annual report. The annual report contains the following information: 1. Fiscal Statement (State Controller's Report) - describes all outstanding debt, the amount of tax increment generated and all financial transactions of the Agency 2. Low to Moderate Income Housing Activities (Housing and Community Development Report) — describes the Agency's activities affecting low to moderate income housing and displacement; 3. Independent financial audit report; 4. Statement of Indebtedness as filed with the County Auditor on or before October 1, 2011; 5. Blight Progress Report — describes the Agency's progress, including specific actions and expenditures, in alleviating blight in the previous fiscal year; 6. Loan Report — provides a list of and status report on all loans made by the redevelopment agency that are fifty thousand dollars ($50,000) or more, that in the previous fiscal year were in default, or not in compliance with the terms of the loan approved by the redevelopment agency; 7. Property Report - describes the total number and nature of the properties that the Agency owns and those properties the Agency has acquired in the previous fiscal year; and 8. Agency Time Limits — describes the fiscal years that the Agency expects the time limits to expire for eminent domain proceedings, debt establishment, effectiveness of the redevelopment plan, and indebtedness repayment. In addition to presenting the Annual Report to the Agency Board, the Agency is required to file the Annual Report to the State Controller's Office by December 31, 2011. Both