In anticipation of the upcoming discussion regarding the use of future redevelopment funding we would request that the potential for the convention center phase II expansion bond debt payments also be included. This action would increase revenue to the city to help fund many services that are impacted by the current budget deficit. Specifically, we are requesting that this proposal be docketed at the upcoming special meeting of the RedevelopmentAgency so that staff can be directed to prepare all necessary documents regarding such action. Concurrently, we are requesting that the City Attorney prepare the necessary documents, including a legal analysis, allowing the CityCouncil and Redevelopment Agency to take such action. Given the uncertain situation regarding the future of redevelopment in California, there is a great need for us to bring this matter before the Redevelopment Agency and City Council quickly.
Thank you for your immediate attention to this matter.
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