Title
RESOLUTION of the Successor Agency to the Redevelopment Agency Approving the Budget Amendment for the Fiscal Year Commencing July 1, 2014 to June 30, 2015 and Making a Determination Pursuant to California Health and Safety Code Section 33334.3 (approves budget adjustments)
Body
WHEREAS, the Successor Agency to the Redevelopment Agency must annually adopt a budget that establishes spending limits by appropriating authorized expenditures for the coming fiscal year; and
WHEREAS, it is the intent of the Agency that the Low and Moderate Income Housing Fund be used to the maximum extent possible to defray the costs of production, improvement, and preservation of low and moderate income housing; and
WHEREAS, pursuant to California Health and Safety Code Section 33334.3, the amount of money spent for administrative activities associated with the Successor Agency and the repayment of the Recognized Obligation Payment Schedules (ROPS) must be reviewed and determined by the Successor Agency's governing body.
NOW THEREFORE, the Successor Agency to the Redevelopment Agency of the City of San Leandro does RESOLVE as follows:
That the 2014-15 Agency Budget is hereby amended as shown on that certain document entitled 2014-15 Projected Budget Adjustments by Fund and 2014-15 Projected Budget Adjustments Detail, copies of which are attached hereto and incorporated herein by reference.