pages: CityCouncil/2010-01-26.pdf, 10
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CityCouncil | 2010-01-26 | 10 | Councilmember Gilmore suggested a cover letter be included when the check is sent to the State. Mayor Johnson stated the State should be made aware of how the City has been impacted. The Interim City Manager stated the City has yet to receive securitization money, but money has been taken out [of property taxes]; the State is making the City absorb the negative cash. Councilmember Matarrese stated reserves act as a buffer; redevelopment has changed; development will have to be done differently. Vice Mayor deHaan stated the LCC is trying to stop the raids; hopefully, the League's ballot initiative will be on the November ballot. Mayor Johnson stated California government needs significant restructuring to save the State. Councilmember Tam stated the LCC has collected 273,000 signatures; one million signatures are needed. (ARRA) ARRA Revenue and Expense - Ten-Year History Authority Member Matarrese inquired why ARRA has a fund balance, why the balance is so large, and what is the use of the fund balance; stated the fund balance is approximately $9 million; buildings cannot be secured; more money will need to be put in the buildings if secured; questioned whether the fund balance is being spent appropriately. The Interim Executive Director responded fund balance issues cannot be discussed at this time because of the Exclusive Negotiating Agreement; stated staff will review better strategic planning for long-term leases; fund balance uses will be discussed as part of the mid year report. Authority Member deHaan inquired how much funding the Alameda Collaborative brings to the table, to which the Economic Development Director responded none. (10-034 CC) Golf Enterprise Fund Revenue and Expense - Ten Year History The Interim City Manager gave a brief presentation. Councilmember Matarrese inquired how the negative interest is derived. The Interim City Manager responded a negative interest indicates a reversal or credit from Special Joint Meeting Alameda City Council, Alameda Reuse and Redevelopment Authority and 10 Community Improvement Commission January 26, 2010 | CityCouncil/2010-01-26.pdf |