10B Action 2011 0118 - Laserfiche WebLink

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MANAGEMENT'S DISCUSSION AND ANALYSIS At the fund level, total revenue for fiscal year 2009 -2010 was $11.6 million, of which 94.6% was tax increment revenue and 5.4% was interest and other income. Tax increment revenue for the Agency increased by 0.1 % in fiscal year 2009 -2010, to $10.97 million from $10.96 million in the previous fiscal year. Twenty percent of tax increment revenue, approximately $2.8 million in fiscal year 2009 -2010, is set aside in the Low and Moderate Housing Fund for affordable housing projects. Fiscal Year 2005 -06 2006 -07 2007 -08 2008 -09 2009 -10 Tax Increment $ 7,566,125 $ 9,426,640 $ 9,837,062 $10,957,140 $ 10,969,052 Total expenditures for fiscal year 2009 -10 were $21.9 million: $17.2 million represented community development projects (from which $3.3 million was for affordable housing projects) and $4.7million went for payments of long -term debt and related interest. The Agency's investment in capital assets as of June 30, 2009, amounted to $8.6 million, which is an increase of $568,000 over the previous fiscal year. Investment in capital assets includes land buildings and infrastructure. Additional information on the Agency's capital assets can be found on Note 6 of the notes to the financial statements. At the end of the current fiscal year, the Agency's total long -term debt outstanding is $55.4 million, decrease of $1.6 million from the prior fiscal year. The Agency also had $4.4 million in outstanding advances from the City. Additional information on the Agency's debt and advances from the City can be found on Note 8 and Note 7, respectively, on the notes to the financial statements. ECONOMIC DEVELOPMENT AND COMMERCIAL REVITALIZATION The Agency is active in three redevelopment project areas: the Plaza Project Area, the Alameda County — City of San Leandro Project Area (also known as the "Joint" Project Area), and the West San Leandro /MacArthur Boulevard Project Area. The Agency is also active in funding affordable housing activities throughout the city. Pursuant to Health and Safety Code Section 33080.1 (d), selected accomplishments for Fiscal Year 2009 -10 include: Overall • The Redevelopment Agency initiated meetings of the new Redevelopment Advisory Committee (RAC). The RAC focused on providing input to the Agency on the 2010 — 2014 Implementation Plan with a particular emphasis on identifying and prioritizing future programs and projects. • The Agency adopted the 2010 — 2014 Implementation Plan via RDA Resolution 2010 -008 on September 20, 2010 after a public hearing. The Plan reflects the input of the RAC and will guide implementation efforts for the next several years. • The Agency held a successful Downtown Symposium on March 30 at the Main Library, with over 100 people attending. The event featured three panels of speakers providing an overview of the many exciting developments taking place downtown. Topics covered included urban design, downtown special events, retail attraction, business assistance programs, public safety, and future development. • Agency staff worked with a design firm, to craft a way - finding signage program for downtown. The signs will be used to better define the downtown area through a cohesive visual appearance, and to help people locate essential services such as parking, transit, and City Hall. The funding to purchase the signs is included in a Transportation for Livable Communities (TLC) grant.