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Id <br />3. The 130 square feet of first floor City Hall office space <br />currently being utilized by the Agency is made available to the Agency at <br />300 per square foot per month during the term of this agreement and retro- <br />active to July 16, 1972. Said costs shall include the cost of utilities <br />and janitorial service. <br />4. Equipment used and utilized by the Agency and owned by the <br />City is made available to the Agency by the City at the cost of $$50.00 <br />per month during the term of this agreement and retroactive to July 16, 1972. <br />Said equipment is more particularly described on the attached Exhibit A. <br />5. The use of the City Council Chambers and the various meeting <br />rooms owned and operated by the City are made available, when not in con- <br />flict with prior engagements, to the Agency at no cost to the Agency. <br />6. To date the City has appropriated $$35,195 to the Agency <br />($$875 fiscal year 1971-72 and $$34,320 fiscal year 1972--73) for the ad- <br />ministrative expenses and overhead of the Agency. Said appropriations, <br />as well as any future budgetary appropriations made by the City to the <br />Agency, shall be considered a loan by the Agency from the City, and shall <br />be repaid by the Agency with interest at seven percent (7%) per annum on <br />the unpaid balance at such time as the Agency may be able to repay said <br />loan or loans. <br />7. The funds heretofore and hereafter to be appropriated by <br />the City to the administrative fund of the Agency shall be kept in a special <br />fund within the regular City of Redlands accounts to be known as the <br />"Community Redevelopment Agency Administrative Fund." Monies shall be drawn <br />from the Fund to meet the administrative expenses of the Agency in sub- <br />stantially the same manner as money is drawn by other agencies and departments <br />of the City. <br />-2- <br />