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IN THE CITY COUNCIL OF THE CITY OF SAN LEANDRO RESOLUTION NO. 2011 A RESOLUTION IN OPPOSITION TO THE GOVERNOR'S PROPOSAL TO ABOLISH REDEVELOPMENT AGENCIES IN CALIFORNIA WHEREAS, as part of its 2011 -12 budget proposal, the Governor has proposed permanently abolishing California's more than 400 local redevelopment agencies; and WHEREAS, this proposal will harm the California economy and represents a clear violation of the intent of the voters, as evidenced by the passage of Proposition 22 in November 2010 when an overwhelming 61% of voters elected to stop State raids of local government funds, including redevelopment funds; and WHEREAS, this proposal will bring very little financial benefit to the State. According to the State Controller's Office, redevelopment agencies have more than $87 billion in bond and other contractual obligations that legally must be repaid before revenues are available to any other purpose; and WHEREAS, throughout California, redevelopment activities support 304,000 jobs annually, including 170,600 construction jobs, contribute over $40 billion annually to California's economy in the generation of goods and services, and generate more than $2 billion in state and local taxes in a typical year; and WHEREAS, redevelopment projects identified in San Leandro's Five Year Implementation Plan for 2010 -2014 are projected to leverage roughly $120 million in private investment, generating an estimated 750 construction jobs, 700 permanent jobs, $1.3 million in annual property tax, and $2.1 million in annual sales tax, while leveraging over $150 million in private investment; and WHEREAS, this proposal will eliminate San Leandro's sole tool for local economic development and business assistance, including the support for small businesses through the Commercial Rehabilitation Program, support of manufacturing jobs through the Industrial Competitiveness Program, support for business associations, downtown revitalization efforts, and the Farmers' Market, among other programs; and WHEREAS, eliminating redevelopment will take away one of the few tools local governments have to comply with state requirements to plan for more compact urban development, specifically impacting San Leandro's Transit Oriented Development implementation and its ability to positively impact successful achievement of greenhouse gas reduction goals and the Climate Action Plan; and WHEREAS, eliminating redevelopment will severely impact San Leandro's very successful program of affordable housing development. Redevelopment agencies are the second