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PUBLIC HEARING <br />Recommended Action: <br />Recommend that the City Council approve the Consolidated Plan Annual <br />Update for fiscal year 2006 - 2007 and authorize its submittal to the U.S. <br />Department of Housing and Urban Development. <br />5. PAYMENT TO EDUCATIONAL REVENUE AUGMENTATION FUND <br />(Patricia Whitaker) <br />Recommended Action: <br />1. Recommend that the City Council approve an appropriation <br />adjustment transferring loan funds from the Low and Moderate- <br />Income Housing Fund to redevelopment project area funds to <br />make the necessary payment to the County Educational <br />Revenue Augmentation Fund as required by legislation <br />implementing the California State Budget for FY 2004-2005. <br />2. Recommend that the Community Redevelopment Agency adopt <br />a resolution finding that borrowing $3,330,894.37 in Housing <br />Set-Aside Funds to make the FY 2005-2006 payment to the <br />Educational Revenue Augmentation Fund is necessary due to <br />the insufficiency of other revenue sources. <br />MISCELLANEOUS ADMINISTRATION <br />6. EXCUSED ABSENCES <br />COMMENTS <br />7. PUBLIC COMMENTS <br />AT THIS TIME the members of the public may address the Community <br />Redevelopment and Housing Commission members regarding any non-agenda <br />CRHC AGENDA 5 APRIL 18, 2006 <br />