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Golden Handshake <br />July 23, 2002 <br />Page 2 <br />The City is super -funded and it is proposed that this cost will be deducted from the City's <br />account; therefore, there will be no budgetary impact. By this action, the Redevelopment <br />Agency will realize savings in the amount of $68,623, representing annual salary and salary - <br />related benefits. <br />RECOMMENDATION: <br />As required by Government Code Section 7507, Staff respectfully requests a public <br />announcement informing that the Costs for the additional service credit will be $21,247.78, <br />along with a $10.00 valuation charge. Further, it is requested that the City Council establish the <br />window for eligible retirees from August 21, 2002 to November 19, 2002. <br />Kry,VIIV,W ILEANIUIVLY'_ <br />City Attorney:Finance Director: <br />City Manager:AT7g!!!T OTHER: <br />