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Summary of Public Outreach Efforts <br />Not Applicable <br />Fiscal Impact <br />• $1,300,000 will be added to the Joint Project Area FY 2008-2009 Budget, to be funded with <br />monies available in the fund balance <br />• Partial funding is available for the project through the Measure B Project Fund, Account No. <br />144-39-001 <br />Budget Authority <br />• The City and the Redevelopment Agency have agreed to execute a Cooperation Agreement <br />to provide funding for the project <br />• Partial funding for this project was appropriated as part of the Fiscal Year 2002-03 budget <br />• The acquisition of the properties required for this project requires an allocation of $1,300,000 <br />from the Joint Project Area Fund Balance, and there are sufficient funds available to meet <br />this need. <br />~~ ~- ~~~ <br />Perry Carter, Interim Agency Treasurer <br />Attachments <br />• Site Map <br />CONCLUSION <br />Staff recommends adoption of the resolutions of the City Council and the Redevelopment <br />Agency approving a Cooperation Agreement for the purpose of undertaking improvement <br />activities, acquiring property and relocation of a tenant relating to the East loth Street/Hesperian <br />Boulevard/150`h Avenue Improvement project and appropriation of $1,300,000. <br />K:AAA-C\COUNCIL~2008\PENDING\TRIANGLE FUNDING CM AUTH MEM.docx <br />