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2010-069-Approve FY 10/11 CIP For FY 2011-14/15RESOLUTION 2010-069 RESOLUTION OF THE REDEVELOPMENT AGENCY CONSENTING TO THE PROVISION OF PUBLIC IMPROVEMENTS BY THE LOS GATOS REDEVELOPMENT AGENCY AND MAKING MANDATORY FINDINGS IN REGARDS TO CAPITAL PROJECTS PROVIDED FOR IN THE LOS GATOS REDEVELOPMENT AGENCY FY 2010/11 OPERATING AND FY's 2010/11- 2014/15 CAPITAL IMPROVEMENT PLAN WHEREAS, Section 33445 of the Health and Safety Code requires the local legislative body to consent to the provision of public improvements by its Redevelopment Agency and make findings: 1) that the public improvements- are of benefit to the project area or the immediate neighborhood of the project area; 2) that no other reasonable means of financing such public improvements are available to the community,. and; 3) that the Agency's contribution to the .cost of the public improvement or facility will assist in eliminating one or more blighting conditions in the project area, and is .consistent with the Agency's implementation plan adopted pursuant to Section 33490 of the Health and Safety Code, the (Implementation Plan), and WHEREAS, the Redevelopment Agency's FY 2010/11 - 2014/15 Capital Budget provides funding for the following project: Almond Grove Concrete Rehabilitation WHEREAS, the Projects will be of substantial benefit to the downtown business district and surrounding areas of the Central Los Gatos Redevelopment Project Area (the Project Area) ,established pursuant to the 1991 Redevelopment Plan (the Redevelopment Plan); WHEREAS, the Town has limited financial resources for capital improvements and these funds are committed to other critical infrastructure needs of the Town such as repairing aging streets outside of the Project Area; WHEREAS, the Projects have been specifically called for in the Town's Redevelopment Plan and Implementation Plan; and WHEREAS, the Downtown infrastructure was initially in a deteriorated condition with broken pavement, deteriorated streets and alleys, deteriorated sidewalks, and functionally obsolescent, .and the capital projects have helped, and continue to help, eliminate these blighting conditions; THEREFORE BE IT RESOLVED, that the Town Council of the TOWN OF LOS GATOS does hereby consent to the provision of funding for the Capital Projects by the Los Gatos Redevelopment Agency in accordance with the Agency's FY 2010/11 Operating and FY 2010/11 - .2014/15 Capital Improvement Program budgets totaling adopted revenues of $11,179,610 and expenditures of $13.,722,631 (prior to carry-forward appropriations); and BE IT FURTHER RESOLVED, that the Agency Board hereby finds that the Projects are of benefit to the Project Area and the immediate neighborhood of the Project Area; and BE IT FURTHER RESOLVED, that the Agency Board hereby finds that no other reasonable means of financing such public improvements are available to the community; and BE IT FURTHER RESOLVED, that the .Agency Board hereby finds that the Los Gatos Redevelopment Agency's contribution to the cost of the public improvements will assist in eliminating blighting conditions in the Project Area, and is consistent with the Implementation Plan. BE IT FURTHER RESOLVED, that the Agency Board .hereby directs staff that any changes or impacts resulting from: Council approval of the meet and confer process or management compensation plan; from classification adjustments or miscellaneous corrections; from changes due to more refined estimates or grant approvals; or from further Agency Board consensus direction received June 7, 2010, be incorporated within the final FY 2010/11 Operating and Capital Budget. PASSED AND ADOPTED at a regular .meeting of the Redevelopment Agency of the Town of Los Gatos held the 7th day of June; 2010, by the following vote: REDEVELOPMENT AGENCY MEMBERS: AYES: Joe Pirzynski, Steve Rice, Barbara Spector, Mike Wasserman, Mayor Diane McNutt NAYS: ABSENT: ABSTAIN: SIGNED: CHAIR OF THE REDEVELOPMENT AGENCY TOWN OF LOS GATOS, CALIFORNIA ATTEST: S CRE ARY OF THE REDEVELOPMENT AGENCY T OF LOS GATOS, CALIFORNIA