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IN THE REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO RESOLUTION N0.2008-014 RDA (1485) RESOLUTION ADOPTING THE BUDGET FOR THE FISCAL YEAR JULY 1, 2008 TO JUNE 30, 2009 AND MAKING A DETERMINATION PURSUANT TO CALIFORNIA HEALTH AND SAFETY CODE SECTION 33334.3. WHEREAS, 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 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 planning and general administrative activities associated with the development, improvement and preservation of low and moderate income housing shall not be disproportionate to the amount actually spent on said housing. NOW THEREFORE, the Redevelopment Agency of the City of San Leandro does RESOLVE as follows: That the FY 2008-2009 Budget of the Redevelopment Agency of the City of San Leandro, a copy of which is attached hereto and made a part hereof by reference, is hereby adopted and all amounts stated herein are appropriated to the purposes therein specified for FY 2008-2009. That the Agency hereby finds and determines that the planning and administrative expense contained in the Agency budget is necessary for the production, improvement, or preservation of low and moderate income housing. Introduced by Agency Member Stephens and passed and adopted this 2nd day of June, 2008, by the following called vote: Members of the Agency: AYES: Members Grant, Gregory, Prola, Souza, Starosciak, Stephens; Chair Santos (7) NOES: None ~0) ABSENT: None ~0) ATTEST: F~~~i.-t~,tl:~~~l ~~.1~~~~.~ Marian Handa, Agency Secretary