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IN THE REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO <br />RESOLUTION N0.2008 - <br />RESOLUTION ADOPTING THE BUDGET FOR THE <br />FISCAL YEAR JULY 1, 2008 TO JUNE 30, 2009 AND MAKING A DETERMINATION <br />PURSUANT TO CALIFORNIA HEALTH AND SAFETY CODE SECTION 33334.3. <br />WHEREAS, the Redevelopment Agency must annually adopt a budget that establishes <br />spending limits by appropriating authorized expenditures for the coming fiscal year; and <br />WHEREAS, it is the intent of the Agency that Low and Moderate Income Housing Fund be <br />used to the maximum extent possible to defray the costs of production, improvement, and <br />preservation of low and moderate income housing; and <br />WHEREAS, pursuant to the California Health and Safety Code, Section 33334.3, the <br />amount of money spent for planning and general administrative activities associated with the <br />development, improvement and preservation of low and moderate income housing shall not be <br />disproportionate to the amount actually spent on said housing. <br />NOW THEREFORE, the Redevelopment Agency of the City of San Leandro does <br />RESOLVE as follows: <br />That the FY 2008-2009 Budget of the Redevelopment Agency of the City of San Leandro, a <br />copy of which is attached hereto and made a part hereof by reference, is hereby adopted and all <br />amounts stated herein are appropriated to the purposes therein specified for FY 2008-2009. <br />That the Agency hereby finds and determines that the planning and administrative expense <br />contained in the Agency budget is necessary for the production, improvement, or preservation of <br />low and moderate income housing. <br />Introduced by Agency Member and passed and adopted this 2"a day <br />of June, 2008, by the following called vote: <br />Members of the Agency <br />AYES: <br />NOES: <br />ABSENT: <br />Attest: <br />Marian Handa, Secretary <br />