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07/21/2008 ORIGINAL RESOLUTION NO. 14875 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY APPROVING THE ANNUAL BUDGET FOR FISCAL YEAR 2008- 2009 FOR THE REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY, AND APPROVING AND AUTHORIZING EXECUTION OF AN AMENDMENT NO. 1 TO AGREEMENT FOR SERVICES BETWEEN THE CITY AND AGENCY {ADMINISTRATIVE SERVICES} WHEREAS, pursuant to the California Community Redevelopment Law (Health and Safety Code Section 33000 et seq.), the Redevelopment Agency of the City of Redwood City (the "Agency") is required to adopt an annual budget; and WHEREAS, Agency staff, in cooperation with City staff, has prepared and presented to the Agency Board and City Council for approval of a final budget for Fiscal Year 2008-09, including projections for Fiscal Year 2009-2010; and WHEREAS, the Agency and City entered into an Agreement for Services, dated January 8, 2003, and effective as of July 1, 2002 (the "Agreement"), pursuant to which the Agency is obligated to reimburse the City for certain designated administrative services (the "Services") being provided by the City in each fiscal year; and WHEREAS, the Agency and City desire to modify and amend the Agreement to clarify the Services and procedures to be followed for reimbursement of the costs of such Services; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF REDWOOD CITY DOES HEREBY RESOLVE AS FOLLOWS: Section 1. The City Council hereby approves the modifications and amendments to the Agreement as set forth in that certain "Amendment No. 1 to Agreement for Services City of Redwood City and Redwood City Redevelopment Agency (Administrative Services)" (the "Amendment"). The City Manager and City Clerk are hereby authorized and directed to execute the Amendment on behalf of the City, subject to any minor, technical and clarifying changes as may be approved by the City Attorney, and to take such actions and execute such other documents as may be necessary to carry out the obligations of the City under the Agreement, as modified by the Amendment. Section 2. The City Council hereby approves the Final Agency Budget for Fiscal Years 2008-2009 (Attached hereto as Exhibit A), including without limitation the Agency General Fund Budget, Agency Housing Fund Budget, 2008-2009 Downtown Events Budget and Downtown Seasonal Banner Program (collectively, the "Agency Budget"). The City Council hereby approves and authorizes the appropriation of funds to and from the various accounts and the payment of all costs and expenditures of the Agency during Fiscal Years 2008-09, as set forth in the Agency Budget, including without limitation reimbursement to the City of those costs incurred by the City to provide the Services provided for under the Agreement, as modified by the Amendment, and as approved in the Agency Budget. A TTY /RESO/RESO.1835 071608 14875 MUFF # 404