HomeMy WebLinkAboutReso RDA14-1999 RESOLUTION NO. 14- ~9
REDEVELOPMENT AGENCY OF THE CITY OF SOUTH SAN FRANCISCO
STATE OF CALIFORNIA
A RESOLUTION AUTHORIZING EXECUTION OF AN
AMENDMENT TO THE REPAYMENT AGREEMENT WITH THE
REDEVELOPMENT AGENCY TO INCREASE ADVANCES FROM
THE GENERAL FUND TO THE EL CAMINO CORRIDOR PROJECT
AREA TO COVER ANTICIPATED EXPENDITURES FOR FISCAL
YEAR 1999-2000
WHEREAS, the Redevelopment Agency desires to amend the Repayment Agreement
with the City of South San Francisco to increase advances from the General Fund to the E1
Camino Corridor Project Area; and
WHEREAS, the current cap on this advance is $1,000,000; and
WHEREAS, as of June 30, 1999, expenditures total $889,652; and
WHEREAS, staff recommends that the cap be increased to $1,800,000 to cover potential
project area expenditures of $650,000 for fiscal year 1999-2000.
NOW, THEREFORE, BE IT RESOLVED that the Redevelopment Agency of the City of
South San Francisco hereby authorizes the execution of an amendment to the Repayment
Agreement with the City of South San Francisco to increase advances from the General Fund to
the E1 Camino Corridor Project Area to cover anticipated expenditures for fiscal year 1999-2000.
I hereby certify that the foregoing Resolution was regularly introduced and adopted by the
Redevelopment Agency of the City of South San Francisco at a regul ar meeting held on the
day of September, 1999 by the following vote:
AYES: Boardmembers Joseph A. Fernekes, Eunene R. Mullin and John R. Penna
Vice Chair Matsumoto and Chairman James L. Datzman
NOES: None.
ABSTAIN: None.
ABSENT: None.
ATTEST:
C:~ly DocumentskRESO~repaymentagr.rda.doc "~ ~/c~o 5 Clerk