pages: CityCouncil/2010-06-24.pdf, 8
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CityCouncil | 2010-06-24 | 8 | out of the APIP fund balance, including borrowing from the housing set aside which is a permitted method; continued the presentation. The Economic Development Director stated the CIC has partnered with AUSD to fund a number of projects; the CIC developed the Ruby Bridges Park and Community Center; AUSD did not have to buy and maintain the required open space; the first right of use is given to the School District through a Joint Use Agreement; seven clean acres were delivered to AUSD in addition to all the infrastructure for constructing Ruby Bridges School; a cash contribution was made for construction of the school, which was negotiated in the Contract. Commissioner deHaan inquired whether additional property taxes would be $3.1 million if there were not a redevelopment agreement. Mr. Doezema responded the $16 million generated would be split between the School District, County and others if the CIC did not collect tax increment. Chair Johnson inquired whether the State always lowers the allocation if AUSD receives more from local taxes. Mr. Doezema responded in the affirmative; stated AUSD gets $49 million regardless. Commissioner Tam inquired whether AUSD always gets $49 million from the State. Mr. Doezema responded the number changes from year to year; stated the amount is based on enrollment and complicated State formulas. Commissioner Tam inquired whether the $3.1 million amount would change if the State gives AUSD less. Mr. Doezema responded in the negative; stated if the revenue limit was $45 million instead of $49 million next year, the State would give AUSD $4 million less; the key variable is what the State provides. Chair Johnson stated local tax goes in first and the State makes up the difference of the amount the State determines according to the formula; the school districts get less from the State if more is received from local tax. Commissioner Matarrese inquired whether the difference from having a redevelopment area is that AUSD has an additional $776,000, to which Mr. Doezema responded in the affirmative. Commissioner Matarrese inquired whether a large amount goes for housing, to which Mr. Doezema responded $480,000 goes to housing. Special Joint Meeting Alameda City Council, Alameda Public Financing Authority, Alameda Ruse 8 and Redevelopment Authority, and Community Improvement Commission June 24, 2010 | CityCouncil/2010-06-24.pdf |