The Agency is required to adopt an annual budget. It is recommended that the Agency adopt the Fiscal Year 1999/2000 budget as shown in this report.

Source of Revenues:

The Agency's budget consists of one fund and one operating program. Capital improvements and special projects are separately identified. Listed below are the proposed expenditures by type:

The budget is primarily comprised of Economic Development operating costs, debt service costs and repayment to the City. The Capital Projects costs are for maintenance of the Town Center parking structure. The Special Projects costs fund continuing planning activities in the redevelopment plan project area. Attachment A is the resolution for the adoption of the budget for the Redevelopment Agency.

Adoption of a budget for the Redevelopment Agency for Fiscal Year 1999/2000 will authorize appropriate expenditures to be made.

Public contact has been accomplished through the publication and posting of the Agency agenda. Additionally, Reports to the Redevelopment Agency are available in the Library and on the City’s web page.

A. Adopt the budget as recommended above.

B. Adopt the budget in an amount other than recommended.

It is recommended that the Agency adopt Alternative A.

Prepared by:

Grace H. Kim
Management Analyst - Budget

Reviewed by:

Gabriel A. Silva
Finance Manager

Reviewed by:

Mary J. Bradley
Director, Department of Finance

Approved by:

A. FY 1999/2000 Redevelopment Agency Budget Adoption Resolution