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TO: BOARD OF SUPERVISORS +
FROM: HARVEY E. BRAGDON, Contra
DIRECTOR OF COMMUNITY DEVELOPMENT Costa
DATE: September 12, 1989 County
SUBJECT: Advance of Funds to the Redevelopment Agency for
Rodeo Redevelopment Plan Adoption Expenses.
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
Approve a loan of $50,000 from Housing Bond Trust Funds to the
Contra Costa County Redevelopment Agency for costs associated with
adoption of a Rodeo Redevelopment Plan; and authorize the Director
of Community Development to execute a Repayment Agreement with the .
Redevelopment Agency.
FISCAL IMPACT
The advance is a loan of $50,000, which the Redevelopment Agency
will repay, plus interest, from tax increments generated by a
project in Rodeo if adopted. Funds to be advanced would be from a
non-general fund source - Housing Bond Trust Fund accounts 018-
108-010 , 018-108-011, or 018-108-012.
BACKGROUND/REASONS FOR RECOMMENDATIONS
On May 16, 1989, the Board of Supervisors approved Resolution
89-322 designating a Redevelopment Survey Area in Rodeo. While the
Redevelopment Agency is charged with the responsibility to investi-
gate the feasibility of establishing a redevelopment project in
that area, the Agency currently has insufficient funds to do so on
a timely basis.
The area being surveyed is badly in need of infrastructure, and
housing improvements, and establishment of a redevelopment project
in the Rodeo area may greatly enhance the ability of the County to
construct and finance such improvements
CONTINUED ON ATTACHMENT: YES SIGNATURE:
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RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATI F B7cO7 M
APPROVE OTHER
r_1
SIGNATURE(S) :
ACTION OF BOARD ON September 12 , 1989 APPROVED AS RECOMMENDED X OTHER
y;
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A
X UNANIMOUS (ABSENT ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE BOARD OF
SUPERVISORS ON THE DATE SHOWN.
cc: Community Development (Orig. ) ATTESTED Sept mb r 12 , 1989
CAO PHIL BATCHELOR, CLERK OF
Auditor-Controller THE BOARD OF SUPERVISORS
AN COUNTLDMMINISTRATOR
BY_(� , DEPUTY
RA40/jb/advfunds.cao