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4 <br />Recommended Revisions to Approval Process <br />Staff also recommends increasing the dollar amount the Executive Director can approve from $25,000 <br />to $50,000 to streamline the approval process. Currently, any project with an Agency contribution <br />over $25,000 is reviewed by the Business Development and Housing Committee and approved by the <br />Redevelopment Agency Board. However, the City ManagerBxecutive Director, according to the City <br />purchasing policy, has the authority to enter into agreements for up to $50,000. Staff recommends <br />amending the process such that a recommendation from the Business Development and Housing <br />Committee would be sufficient to allow the Executive Director to approve projects up to $50,000, <br />consistent with City policy. On a case-by-case basis, the Committee could still decide to bring a <br />project to the full Council for approval. <br />~<_ <br />\\CH-FP01\Dept$\CM\DEPT\OBD\Files RDA\RDA Loans\Commercial Rehab Program12007-2008\BHDC S Memo 3-12-2009.doc <br />