pages: CityCouncil/2008-09-16.pdf, 2
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CityCouncil | 2008-09-16 | 2 | Action for a Sustainable Alameda (CASA) meeting at the "O" Club at Alameda Point on Wednesday, September 17, 2008, from 6:30 p.m. to 8:30 p.m. (08-388) - Presentation regarding the Fiscal Year 2007-2008 Façade Grant Program. The Development Coordinator gave a Power Point presentation. Mayor Johnson inquired about funding levels. The Development Coordinator responded funding levels have been approximately the same amount for the last two years; stated tax increment funding is used. Mayor Johnson inquired whether funding levels are adequate. The Development Coordinator responded funds are running low; stated there is a waiting list for funding. Kathy Moehring, West Alameda Business Association (WABA) , stated WABA supports the grant funding the grant funding brought Park Street and Webster Street together Pappo's windows were reused at the Fireside Lounge. Robb Ratto, Park Street Business Association (PSBA) thanked Council for the façade grant program; stated that the funding process is easier than in the past. (08-389) The Interim Finance Director assured Council and the community that the American International Group (AIG) marketing activity has not affected the City's portfolio; stated the City has two guaranteed investment Contracts; one Contract invests reserve funds for redevelopment and one Contract invests reserve funds for the Community Facilities District Bond; the City has been assured by the City's portfolio managers that the federal government has decided to back AIG. Mayor Johnson stated the City needs to watch CalPERS policies and investments because the City has retirement investments with CalPERS; the City would pay more money if CalPERS investments do not perform. The Interim Finance Director stated CalPERS has altered its investment strategy because a significant amount of their portfolio was in real estate investment trusts and inter-City urban development projects which were not performing; an Off Agenda Report can be provided with a complete analysis CalPERS Regular Meeting Alameda City Council 2 September 16, 2008 | CityCouncil/2008-09-16.pdf |