Culver City : Agency Approves Budget
The Redevelopment Agency unanimously approved a budget for the next fiscal year, which includes $110 million in revenues and $50 million in expenditures.
The general budget has a projected surplus of $60 million to cover debt and other activities. The projects covered by the budget include construction of Fire Station No. 1, continuing plans for the new City Hall, renovation of Media Park and Ivy Substation, funding for the Historic Preservation Program, implementation of the downtown revitalization plan and rehabilitation of McManus Park.
The agency also approved its housing budget, which anticipates $10.8 million in revenues and $2.4 million in expenditures. Programs that will be implemented for the coming fiscal year include funding for up to three group homes, expansion of the Rental Assistance Program and financial assistance to the Jewish Federation Council for development of 48 rental units for low-income senior citizens.
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