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A. Approve claims and checks dated February 6, 2012 and the usual and <br /> necessary payments through February 13, 2012. (303) <br /> MINUTE ORDER 12-025 <br /> 7. PUBLIC HEARING(S) — None <br /> 8. STAFF REPORT(S) <br /> A. Mid-Year General Fund Budget Update and Strategic Plan Review. <br /> (501) <br /> Recommendation: <br /> None. <br /> Dr. Robert Bell provided the initial opening remarks stating that Redwood City has <br /> embraced a multi-prong approach that has served the City well. He noted some <br /> economic climate changes such as the demise of the Redevelopment Agency (RDA) <br /> but generally the expected deficits fall within the estimated ranges. He outlined the <br /> agenda for the evening which included his introductory remarks, followed by the <br /> comments from the Finance Director, Community Development Director Ekern's. <br /> Thereafter, Council discussion and direction. <br /> Mr. Ponty (presentation on file) began by discussing national high level items and then <br /> zoomed in the City's budget followed by an analysis of reserves. Mr. Ponty covered the <br /> unemployment rates for the nation and statewide and in San Mateo County. He noted <br /> that last year 48,000 jobs were created in San Mateo County. However, the assessed <br /> valuations have not seen an increase but the hope is that the trend of additional jobs will <br /> spread to increased valuations. Mr. Ponty believes the future deficits look manageable <br /> however there are uncertainties like RDA and PERS. He reassured Council that his <br /> assumptions were conservative. <br /> Council Discussion: <br /> Various Council Members inquired about the assumptions. In regards to the RDA funds, <br /> Mr. Ponty believes that some of the money that will come back will be used to backfill <br /> the current fiscal year expenditures, and for the future, staff will make recommendations <br /> on what to cut. <br /> Mr. Bill Ekern then spoke about the RDA and the fact that the recent actions will <br /> dissolve the RDA. He noted that staff is in the process of putting together an inventory <br /> of housing and assets and there is a lot of complexity around these issues. He noted <br /> that Sequoia station is a signature project from the RDA. He congratulated the Council <br /> on the last 30 years of projects which have revitalized the downtown. Mr. Ekern <br /> commented on the ongoing programs that attract people to our downtown. The <br /> enforceable obligations document was briefly touched upon as it then becomes the <br /> document upon which the funds return to the City. He also mentioned that there are <br /> CITY COUNCIL February 6, 2012 <br /> MEETING MINUTES PAGE 7 <br /> MINUTE BOOK NO. 64 <br /> Page No. 29 <br />