pages: CityCouncil/2008-02-19.pdf, 15
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CityCouncil | 2008-02-19 | 15 | available funding for such things as the northern elevation and planting at the end of the fiscal year. The Redevelopment Manager responded she would like to wait until the Theater project is closed out and all liabilities have been addressed stated the money might be needed for outstanding litigation. Commissioner Tam inquired whether redevelopment funds specifically earmarked for projects cannot be used for the General Fund, to which the Redevelopment Manager responded in the affirmative. Commissioner deHaan inquired whether the Theater roofing is in fairly good condition. The Redevelopment Manager responded in the affirmative; stated the leaking is from cracks in the sidewall; water tests have been done on the roof; flashing was added. Chair Johnson inquired whether the western elevation has any leaks. The Redevelopment Manager responded the western elevation has no visible leaks; stated conditions may arise in the future; reserves are being set aside to address issues that may arise in the next three to five years. Chair Johnson stated the matter could be reviewed if contingency is left over. Commissioner Matarrese inquired whether Theater funds and any remaining funds are not General Fund or revenue sources but are restricted by law to use on redevelopment projects. The Development Services Director responded the majority of the Historic Theater funding was all bond money and must go to the project along with interest. Section 108 money was used for most of the garage construction; the land was bought with redevelopment money; Section 108 interest income cannot be used for a non-HUD eligible economic development project. MINUTES (08-11 - CIC) Minutes of the Special Community Improvement Commission Meeting of January 15, 2008. Approved. Commissioner deHaan moved approval of the minutes. Special Joint Meeting Alameda City Council, Alameda Reuse 3 and Redevelopment Authority, and Community Improvement Commission February 19, 2008 | CityCouncil/2008-02-19.pdf |