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MEMORANDUM To: City Manager Date: May 21, 2009 From: Deputy City Manager for Development Services Community Development Agency Subject: COMMUNITY DEVELOPMENT AGENCY 2009-2010 PROPOSED ANNUAL BUDGET We are pleased to present the Community Development Agency's FY 2009-2010 budget for your review. The Agency's overall budget has decreased by 5.7 percent mainly due to the decreased revenues from prior year and fees and interest earnings. In the 2009-2010 fiscal year, the principal effort of the Community Development Agency will be focused upon the expansion and improvement of the City's business, industrial, and residential stock to the extent resources are available to effectuate this effort. The proposed budget reflects the Agency's commitment to neighborhood improvements with $8,109,845 dedicated to residential and commercial improvements via loan programs and rebates. The Agency continues to support neighborhood associations to ensure the long-term commitment, investment, and stabilization of neighborhoods. The Agency's expected accomplishment- in the 2008-2009 fiscal year are highlighted as follows: FY 2008-2009 ACCOMPLISHMENTS • Continued to facilitate the expansion and enhancement of the Auto Mall. • Continued efforts to explore the expansion of MainPlace. • Initiated the development process for Agency-owned properties on Santa Ana Boulevard. • Assisted in the revitalization strategy of the Townsend and Raitt Neighborhood Area. • Established a Downtown Community Management District (CMD). • Prepared and submitted a Substantial Amendment to the Consolidated Plan 2008-2009 Action Plan to receive American Recovery and Reinvestment Act funds. CRA Resolution No. 2009-009 Page 4 of 7