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File Number: 15-575 <br />TO: City Council <br />FROM: Chris Zapata <br />City Manager <br />City of San Leandro <br />Meeting Date: October 19, 2015 <br />Resolution - Council <br />Agenda Section: CONSENT CALENDAR <br />Agenda Number: <br />BY: David Baum <br />Finance Director <br />FINANCE REVIEW: David Baum <br />Finance Director <br />TITLE: RESOLUTION Appropriating $2,437,273 from the General Fund Economic <br />Uncertainty Reserve Fund for the Purpose of Making a Required Payment to <br />the Alameda County Auditor -Controller Related to the Dissolution of the San <br />Leandro Redevelopment Agency <br />WHEREAS, in a June 23, 2015 "Other Funds and Accounts Due Diligence Review <br />Determination" letter, the California Department of Finance Determined that the Successor <br />Agency to the Redevelopment Agency of the City of San Leandro owes a payment of <br />$2,437,273 to satisfy the Due Diligence process pursuant to Health and Safety Code Section <br />34179.6(c); and <br />WHEREAS, the amount owed constitutes a reversal of debt service payments made by <br />the Redevelopment Agency of the City of San Leandro to the City of San Leandro in January <br />and March of 2011 on a loan made to the Plaza Redevelopment Project Area; and <br />WHEREAS, said loan was subsequently denied by the Department of Finance as an <br />enforceable obligation; and <br />WHEREAS, remittance of this payment will make the Successor Agency eligible to <br />receive a Finding of Completion pursuant to Health and Safety Code Section 34191.4. <br />NOW, THEREFORE, the City Council of the City of San Leandro does RESOLVE as <br />follows: <br />That an appropriation of funds be made in the amount of $2,437,273 from the General <br />Fund Economic Uncertainty Reserve Fund for the purpose of making the aforementioned <br />required payment. <br />City of San Leandro Page 1 Printed on 1011312015 <br />