4A Public Hearing 2008 0602 - Laserfiche WebLink

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Proposed City Budget -Page 2 of 4 - June 2, 2008 review by the Finance Director, Assistant City Manager and City Manager. Upon completion of these reviews, the City Manager prepared a summary of the City Manager's Proposed Budget which was reviewed by the Council Finance Committee on April 15, 2008. Based on direction from the Finance Committee and input from the City's Ad Hoc Budget Committee, staff presented a summary report on the 2008-09 budget to the full City Council at a Council Budget Work Session on May 12, 2008. A copy of City Manager's Proposed Budget 2008-2009 was delivered to council members on May 22, 2009, and a copy was made available to the public, as required by City Charter. The delivered City Manager's Proposed Budget 2008-2009 also includes a Supplemental Report which proposes options to reduce a projected $9 million General Fund deficit to $4.4 million. At the May 12, 2008 Budget Work Session, Council reviewed the proposed budget for the City's General Fund and capital projects programs. At the conclusion of the Work session, Council directed staff to return to Council with the budget as proposed, at the regularly scheduled Council meeting of June 2, 2008. Council indicated that it would hold a public hearing on the budget at that time and provide final budget direction to staff. Further, Council indicated that it preferred the options as recommended by the Council Ad Hoc Budget Committee for the General Fund. If Council adopts the budget with those options then the final budget will reflect that decision and any other changes Council may approve. Overall, the total expenditure/expense budget proposed for 2008-09 totals $166.1 million. The City's General Fund accounts for $84.8 million of this request, the Redevelopment Agency, $36.4 million, Enterprise activities, (Water Pollution Control, Environmental Services, Shoreline Fund and Storm Water Fund) $14.5 million and all other activities, $30.4 million for 2008-09. . Other than the General Fund, the Redevelopment Agency (RDA) represents the single largest commitment of City resources for 2008-09. The San Leandro Redevelopment Agency is funded by property tax increment revenue, which is restricted to certain uses. More specifically, RDA tax revenue must be used within RDA Project Areas to support and stimulate the redevelopment of areas that are plagued with physical or economic blight and to support low and moderate income housing projects. In terms of economic development and commercial revitalization, the RDA is active in three redevelopment project areas: the Alameda County-City of San Leandro Project Area (also known as the "Joint" Project Area), the Plaza Project Area, and the West San Leandro/MacArthur Boulevard Project Area. For 2008-09 the RDA is recommending several major capital projects that will impact these areas. For 2008-09, the RDA is proposing to issue approximately $33 million in Tax Allocation Bonds (TAB's) to fund several key capital projects. In accordance with the Redevelopment Plan, staff is targeting three major areas for the use of these funds which are the construction of a senior center, a parking garage and infrastructure improvements on East 14th Street. As proposed the senior center is an approximately 21,000 square foot facility including a main hall, kitchen, computer room, crafts room, exercise room, two classrooms and a staff area. The building will also function as the City's Emergency Operations Center when necessary. The proposed parking garage is a replacement garage for the City's 215 space, seismically unsound parking garage.