Approval of a Budget Amendment for Economic Development Activities. Item Number: A 1 City of Culver City California Agenda Item Report Meeting Date: 01/14/2013 CITY COUNCIL AGENDA ITEM: Approval of a Budget Amendment for Economic Development Activities. Contact Person/Dept.: Todd Tipton CDD Fiscal Impact: Yes X No Public Hearing: Commission Action Required: Yes No X Date: _______________ Public Notification: (Email) Meetings and Agendas City Council (01/09/13) Department Approval: Sol Blumenfeld (01/07/13) Chief Financial Officer Approval: Jeff Muir (by M. Noller) (01/08/13) City Attorney Approval: Carol Schwab (by H. Baker) (01/09/13) City Manager: John Nachbar (01/09/13) Phone Number: 310 253 5783 General Fund: Yes X No Attachments: X Action Item: X RECOMMENDATION: Staff recommends the City Council approve an amendment to the Fiscal Year (FY) 2012/2013 budget in order to appropriate funds for Economic Development activities. A Budget Amendment requires a 4/5ths vote. BACKGROUND: For almost 30 years the former Culver City Redevelopment Agency provided significant funding for the elimination of blight including economic development activities. In 2011 the State of California enacted legislation that resulted in the dissolution of redevelopment agencies throughout the State effective on February 1 2012. As a result of this legislation the Culver City Redevelopment Agency was dissolved including the funding for economic development activities. As a result of the financial uncertainty created by the State Legislature s elimination of redevelopment funds were not appropriated in the City Council Adopted Budget for Fiscal Year 2012/2013 for Economic Development activities. DISCUSSION: Following the dissolution of the former Culver City Redevelopment Agency seven staff members whose activities related to redevelopment activities were re assigned to other City departments. Five staff members remained to provide staffing for the Successor Agency to the Culver City Redevelop...
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