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<br />. <br /> <br />. <br /> <br />. <br /> <br />JOINT SESSION <br />CITY COUNCIL 1 COMMUNITY REDEVELOPMENT AGENCY <br /> <br />BUSINESS CALENDAR <br /> <br />Matters listed on the Business Calendar are generally proposals <br />for new legislation or items requiring discussion. <br /> <br />5. <br /> <br />PAYMENT TO EDUCATIONAL REVENUE AUGMENTATION FUND AND <br />AN ORDINANCE AMENDING THE SIX REDEVELOPMENT PLANS TO <br />EXTEND CERTAIN TIME LIMITS <br /> <br />CITY COUNCIL ACTION <br /> <br />Motions: 1. Adopt an ordinance extending time limits on the effectiveness of <br />the redevelopment plans and extending the time limit on the use <br />of tax increment to repay indebtedness by one year. <br /> <br />2. Approve an appropriation adjustment transferring funds from the <br />Low and Moderate-Income Housing Fund to redevelopment <br />project area funds to make the necessary payment to the County <br />Educational Revenue Augmentation Fund as required by <br />legislation implementing the California State Budget for FY 2003- <br />2004. <br /> <br />COMMUNITY REDEVELOPMENT AGENCY ACTION <br /> <br />Motion: Adopt Resolution No. CRA 2004-07 finding that borrowing $1,830,569 <br />in Housing Set-Aside Funds to make the FY 2003-2004 payment to <br />the Educational Revenue Augmentation Fund is necessary due to the <br />insufficiency of other revenue sources. <br /> <br />CRAAGENDA <br /> <br />4 <br /> <br />MAY 3,2004 <br />