1) City Council Introduction of an Ordinance Opting in to an Alternative Redevelopment Program (2) Agency Board Approval of a Resolution Reducing the Fiscal Year 2011/2012 Affordable Housing Allocation and (3) City Council and Agency Board Approval of an Agreement between the City of Culver City and the Culver City Redevelopment Agency Providing Funding for the Required Payments. City of Culver City California Agenda Item Report Item Number: J 1 Introduction of an Ordinance Opting in Meeting Date: 07/11/11 JOINT CITY COUNCIL AND REDEVELOPMENT AGENCY BOARD AGENDA ITEM: (1) City Council to an Alternative Redevelopment Program (2) Agency Board Approval of a Resolution Reducing the Fiscal Year 2011/2012 Affordable Housing Allocation and (3) City Council and Agency Board Approval of an Agreement between the City of Culver City and the Culver City Redevelopment Agency Providing Funding for the Required Payments. Contact Person/Dept.: Sol Blumenfeld CDD Todd Tipton CDD Fiscal Impact: Yes X No Phone Number: (310) 253 5760 General Fund: Yes No X Attachments: X Public Hearing: Action Item: Commission Action Required: Yes No X Date: _______________ Public Notification: (E Mail) Meetings and Agendas Redevelopment Agency and City Council (07/08/11) Department Approval: Sol Blumenfeld: (07/06/11) City Attorney Approval: Carol Schwab (by H. Baker) (07/07/11) Agency General Counsel Approval: Murray Kane: (07/06/11) City Manager/Executive Director Approval: John M. Nachbar (07/07/11) Chief Financial Officer Approval: Jeff Muir /07/07/11) RECOMMENDATION: Staff recommends that the City Council introduce an ordinance to opt in to an alternative redevelopment program that the Agency Board adopt a resolution reducing the Fiscal Year 2011/2012 Affordable Housing Allocation and the City Council and Agency Board approve an agreement between the City of Culver City and the Culver City Redevelopment Agency to provide funding for the required $12.1 million Opt In Payment in Fiscal Year 2011/20...
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