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IN THE CITY COUNCIL OF THE CITY OF SAN LEANDRO RESOLUTION NO. 2012-008 SA RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LEANDRO ACTING IN ITS CAPACITY AS SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO ADOPTING THE BUDGET FOR THE FISCAL YEAR JULY 1, 2012 TO JUNE 30, 2013 AND MAKING A DETERMINATION PURSUANT TO CALIFORNIA HEALTH AND SAFETY CODE SECTION 33334.3 WHEREAS, the Successor Agency to the Redevelopment Agency must annually adopt a budget that establishes spending limits by appropriating authorized expenditures for the coming fiscal year; and WHEREAS, it is the intent of the Agency that the Low and Moderate Income Housing Fund be used to the maximum extent possible to defray the costs of production, improvement, and preservation of low and moderate income housing; and WHEREAS, pursuant to the California Health and Safety Code, Section 33334.3, the amount of money spent for administrative activities associated with the Successor Agency is necessary for the administration and the repayment of the Recognized Obligation Payment Schedules (ROPS). NOW THEREFORE, the City Council of the City of San Leandro acting in its capacity as the Successor Agency to the Redevelopment Agency of the City of San Leandro does RESOLVE as follows: That the City Council reviewed the City Manager's Proposed Budget, and thereafter caused a public hearing to be held concerning the Proposed Budget on June 4, 2012; and That the Agency hereby finds and determines that the planning and administrative expense contained in the Agency budget is necessary for the administration, and repayment of the Recognized Obligation Payment Schedules. Introduced by Councilmember Prola and passed and adopted this 4th day of June, 2012, by the following vote: Members of the Council: AYES: Councilmembers Cutter, Gregory, Prola, Reed, Souza, Starosciak; Mayor Cassidy (7) NOES: None (0) ABSENT: None (0) ATTEST: VI QM /IA 3 Marian Handa, City Clerk