The URL can be used to link to this page

Home My WebLink AboutSR - FY 2005/06 Budgets/RES No. 515/Res. No. HA-28PALM DESERT REDEVELOPMENT AGENCY STAFF REPORT REQUEST: ADOPTION OF RESOLUTIONS OF THE REDEVELOPMENT AGENCY AND THE HOUSING AUTHORITY AMENDING THEIR FISCAL YEAR 2005-06 BUDGETS SUBMITTED BY: DAVE YRIGOYEN, DIRECTOR OF REDEVELOPMENT/HOUSING DATE: FEBRUARY 9, 2006 CONTENTS: AGENCY RESOLUTION NO. 515 HOUSING AUTHORITY RESOLUTION NO. HA-28 Recommendation: By Minute Motion: 1. The Redevelopment Agency adopt Resolution No. 515 , amending the Fiscal Year 2005-06 budget as a result of Mid -Year Adjustments; and 2. That the Housing Authority adopt Resolution No. HA- 28 , amending the Fiscal Year 2005-06 budget as a result of Mid -Year Adjustments. Executive Summary: The adoption of these resolutions will adjust the budgets for the Redevelopment Agency and the Housing Authority to reflect the projected changes in revenues and expenditures of both entities. Discussion: Staff has completed a Mid -Year analysis of both the Redevelopment Agency and the Housing Authority budgets. We are proposing adjustments to both budgets to reflect changes in projected revenues and expenditures. The adjustments include higher than anticipated tax increment revenues, which will necessitate higher pass -through payments and housing set -aside transfers. Revenue: Staff proposes to increase the budgeted revenue to reflect increases in tax increment revenues to all four project areas. The records and receipt of the first payments of tax increment reflect a projected increase of tax increment revenue of $9,134,917 as follows: Project Area No. 1 $4,909,879 Project Area No. 2 1,144,931 Project Area No. 3 831,032 Project Area No. 4 2,249,075 G:\RDA1Mana Hunt1WPDATAIYRIGOYEMSTFRPTS1020906MidYrBudgetAdjustment.doc Staff Report Adoption of Resolutions of the Redevelopment Agency/Housing Authority amending their Fiscal Year 2005-06 Budgets Page 2 of 5 February 9, 2006 Staff is also recommending changes to the project Housing Set -Aside transfers, net of SB 2557 adjustments of $1,919,502. Expenditures: Redevelopment: Staff is proposing to increase the expenditures for the Redevelopment Agency funds as follows: Prof -Temp Help $ 60,000 Prof -Other $ 45,000 Wallaroo Child Care Center $ 65,000 Casey's Restaurant $ 5,000 Printing/Duplicating (Economic Dev) $ 5,000 The increase to professional temporary help is to accommodate the cost of the interim Finance Manager. The increase to professional services is to appropriate previously approved Financial Consulting Services. The increases to both Wallaroo and Casey's budgets are to facilitate site improvements following the acquisition of these properties. Finally, the increase to printing/duplicating is to provide new brochures for the Redevelopment Agency. Debt Service Funds: Staff is proposing increases to the Debt Services Funds to reflect the higher pass -through payments, ERAF distribution, and Housing set -aside transfers. The following increases are recommended: Project Area No. 1 ERAF Payment (21,345) Pass -Through Payments 1,888,376 SB 2557 469,893 Housing Set -Aside Transfer 1,020,509 Project Area No. 2. ERAF Payment $ 82,572 Pass -Through Payment 394,776 SB 2557 166,884 Housing Set -Aside Transfer 291,844 Project Area No. 3 ERAF Payment $ 34,026 SB 2557 28,204 Housing Set -side Transfer 165,718 G:\RDA\MARIA HUNTIWPDATA\YRIGOYEMSTFRPTS1020906MIDYRBUDGETADJUSTMENT.DOC Staff Report Adoption of Resolutions of the Redevelopment Agency/Housing Authority amending their Fiscal Year 2005-06 Budgets Page 3 of 5 February 9, 2006 Project Area No. 4 ERAF Payment Pass -Through Payment SB 2557 Housing Set -Aside Transfer Low and Moderate Housing Set -Aside: $ 12,655 1,178,781 118,954 441,431 Staff is proposing to increase the expenditures for the Housing Capital funds as follows: Printing/Duplicating Acquisition/Rehab/Resale $ 2,500 $ 250,000 The increase to printing is intended for new Housing brochures. The increase to acquisition is proposed to accommodate the purchase of the property currently owned by the City on Goleta Avenue. Housina Authority: Staff is recommending the following increased appropriations to the Housing Authority properties as follows: Laguna Palms Payroll $ 570 Repairs and Maintenance 2,400 Other Services & Charges 175 California Villas Payroll $ 7,130 Contract Services 8,700 Repairs and Maintenance 29,170 Other Services & Charges 1,350 One Quail Place Payroll $ 3,450 Repairs and Maintenance 64,029 Other Services and Charges 300 Replacement Expenses 118,400 Las Serenas Payroll $ 822 Utility Services 4,000 Repairs and Maintenance 8,350 Other Services & Charges 900 Replacement Expenses 53,500 G:1RDAIMARIA HUNTIWPDATAIYRIGOYEMSTFRPTS1020906MIDYRBUDGETADJUSTMENT.DOC Staff Report Adoption of Resolutions of the Redevelopment Agency/Housing Authority amending their Fiscal Year 2005-06 Budgets Page 4 of 5 February 9, 2006 Catalina Gardens Payroll $ 444 Repairs and Maintenance 1,400 Other Services & Charges 4,250 Replacement Expenses 38,446 Desert Pointe Payroll $ 588 Contract Services 11,850 Repairs and Maintenance 7,695 Other Services & Charges 16,280 Replacement Expenses 48,000 Neighbors Payroll $ 138 Repairs and Maintenance 6,350 Other Services & Charges 4,700 Pueblos Payroll $ 108 Repairs and Maintenance 1,030 Other Services & Charges 1,350 Replacement Expenses 7,354 Taos Palms Payroll $ 114 Repairs and Maintenance 1,050 Other Services & Charges 5,005 Replacement Expenses 5,000 Country Village Payroll $ 444 Other Services & Charges 4,000 The total increase to the Housing Authority budget is $468,842 of which $270,700 is for capital improvements. The majority of the capital improvements are for roof repairs at One Quail. There are minor modifications needed to the parking Tots and sidewalks to Las Serenas to conform to ADA standards for the residents. The rest of the increases are for contractual services, repairs and maintenance, other services, and payroll for the properties. The largest of these is an increase to One Quail Place for tree trimming and parking lot striping. The Housing Commission reviewed the above recommendations on January 11, 2006, and has recommended that the Housing Authority approve the increased budget appropriations. G: RDA1MARIA HUNT\WPDATAWRIGOYENISTFRPTS1020906MIDYRBUDGETADJUSTMENT.DOC Staff Report Adoption of Resolutions of the Redevelopment Agency/Housing Authority amending their Fiscal Year 2005-06 Budgets Page 5 of 5 February 9, 2006 Attached are the resolutions and exhibits for the Redevelopment Agency and Housing Authority, which amend their respective budgets. Submitted by: Dave Yrigoye Director of : evelopment/Housing Approval: Approval: J - i McCarthy Redevelopmen Carlos Orte ;r, , Executive Director Paul S. Gibson, Director of Finance G:IRDANAARIA HUNTIWPDATAIYRIGOYENISTFRPTSW20906MIDYRBUDGETADJUSTMENT.DOC RESOLUTION NO. 515 A RESOLUTION OF THE PALM DESERT REDEVELOPMENT AGENCY, PALM DESERT, CALIFORNIA, AMENDING THE FISCAL YEAR 2005-06 BUDGET AS A RESULT OF MID -YEAR ADJUSTMENTS WHEREAS, as a result of Mid -Year review of the budget, it is desirable to revise the 2005-06 Budget; NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency, Palm Desert, California, that the 2005-06 Budget is hereby revised as follows: 1. The amount shown in the column entitled "Revised Appropriations" in the table entitled "Palm Desert Redevelopment Agency, Mid -Year 2005-06 Budget Review, Revised Appropriations Operating Budget', attached hereto as Exhibit "A", are hereby appropriated to the departments, activities, and projects identified therein as the Operating Budget for 2005- 06. 2. The amounts shown in the column entitled "Revised Estimated Revenues" in the tab entitled "Redevelopment Agency, Mid -Year 2005-06 Budget Review, Revised Estimated Revenues", attached hereto as Exhibit "B", are hereby accepted as the Estimated Revenues for the 2005-06 Fiscal Year for each fund and revenue source. PASSED, APPROVED AND ADOPTED, at the regular meeting of the Palm Desert Redevelopment Agency held on this day of 2006, by the following vote to wit: AYES: NOES: ABSENT: ABSTAIN: Jim Ferguson, Chairman ATTEST: Rachelle D. Klassen, Secretary G'\RDA\Veronuca Tapia\Word Ries\Staff Reports12005-06 RDA Midyear Budget Resolut on.doc FUND/DEPARTMENT Prof -Temp Help Prof -Other Wallaroo Child Care Center Casey's Restaurant Printing/Duplicating Eraf Payment Pass -Through Payments SB 2557 Housing Set -Aside Transfer Eraf Payment Pass -Through Payments SB 2557 Housing Set -Aside Transfer Eraf Payment SB 2557 Housing Set -Aside Transfer Eraf Payment Pass -Through Payments SB 2557 Housing Set -Aside Transfer Printin/DuPIicating Acquisition/Rehab/Resales Total PALM DESERT REDEVELOPMENT AGENCY MID -YEAR 2005-2006 BUDGET REVIEW REVISED APPROPRIATIONS OPERATING BUDGET CHANGE INC/(DEC) 60,000 45,000 65,000 5,000 Resolution No. 51 5 Exhibit "A" IttVIStU APPROPRIATIONS Interim Finance Manager (Approved by Agency Board 9/8/05 - Offset by Reduction in Salaries) Desert Hot Springs Assistance Unappropriated Financial Consultant Services (Approved by Agency Board 7/14/05) Site Improvements (Approved by Agency Board 7/14/05) Site Improvements 5,000 Print New Redevelopment Folders (21,345) 1,8 8,376 469,893 1,020,509 82,572 394,776 166,884 291,844 34,026 28,204 165,718 12,655 1,178, 781 118,954 441,431 2,500 250,000 Decrease in ERAF share Increase in Tax Increment Omitted from 05/06 Budget Increase in Tax Increment Increase in ERAF share Increase in Tax Increment Omitted from 05/06 Budget Increase in Tax Increment Increase in ERAF share Omitted from 05/06 Budget Increase in Tax Increment Increase in ERAF share Increase in Tax Increment Omitted from 05/06 Budget Increase in Tax Increment Print New Housing Folders Acquisition of Goleta Home 6,705,778 $ 48,705,300 FUND/DEPARTMENT Tax Increment Tax Increment Tax Increment Tax Increment Totals Transfer in PA No. 1 Transfer in PA No. 2 Transfer in PA No. 3 Transfer in PA No. 4 Totals PALM DESERT REDEVELOPMENT AGENCY MID -YEAR 2005-2006 BUDGET REVIEW REVISED ESTIMATED REVENUES CHANGE INC/(DEC) 4,909,879 1,144,931 831,032 2,249,075 9,134,917 1,020,509 291,844 165,718 441,431 1,919,502 Resolution No. 515 Exhibit "B" REVISED PROJECTIONS Increase in Tax Increment Increase in Tax Increment Increase in Tax Increment Increase in Tax Increment $ 70,900,064 Increase in Tax Increment Increase in Tax Increment Increase in Tax Increment Increase in Tax Increment $ 14,305,032 RESOLUTION NO. HA-28 A RESOLUTION OF THE PALM DESERT HOUSING AUTHORITY, PALM DESERT, CALIFORNIA, AMENDING THE FISCAL YEAR 2005- 06 BUDGET AS A RESULT OF MID -YEAR ADJUSTMENTS WHEREAS, as a result of Mid -Year review of the budget, it is desirable to revise the 2005-06 Budget; NOW, THEREFORE, BE IT RESOLVED by the Housing Authority, Palm Desert, Califomia, that the 2005-06 Budget is hereby revised as follows: 1. The amount shown in the column entitled "Revised Appropriations" in the table entitled "Palm Desert Redevelopment Agency, Mid -Year 2005-06 Budget Review, Revised Appropriations Operating Budget', attached hereto as Exhibit "A", are hereby appropriated to the departments, activities, and projects identified therein as the Operating Budget for 2005- 06. PASSED, APPROVED AND ADOPTED, at the regular meeting of the Palm Desert Housing Authority held on this day of 2006, by the following vote to wit: AYES: NOES: ABSENT: ABSTAIN: Jim Ferguson, Chairman ATTEST: Rachelle D. Klassen, Secretary FUND/DEPARTMENT CHANGE PALM DESERT HOUSING AUTHORITY MID -YEAR 2005-2006 BUDGET REVIEW REVISED APPROPRIATIONS OPERATING BUDGET REVISED INC/(DEC) APPROPRIATIONS Payroll $ 3,450 Repairs & Maintenance $ 64,029 Other Services & Charges $ 300 Replacement Expenses $ 118,400 Payroll $ 822 Utility Services $ 4,000 Repairs & Maintenance $ 8,350 Other Services & Charges $ 900 Replacement Expenses $ 53,500 Payroll $ 444 Repairs & Maintenance $ 1,400 Other Services & Charges $ 4,250 Replacement Expenses $ 38,446 Payroll $ 588 Contract Services $ 11,850 Repairs & Maintenance $ 7,695 Other Services & Charges $ 16,280 Replacement Expenses $ 48,000 Payroll $ 138 Repairs & Maintenance $ 6,350 Other Services & Charges $ 4,700 Payroll $ 108 Repairs & Maintenance $ 1,030 Other Services & Charges $ 1,350 Replacement Expenses $ 7,354 Payroll $ 444 Other Services & Charges $ 4,000 Payroll $ 114 Repairs & Maintenance $ 1,050 Other Services & Charges $ 5,005 Replacement Expenses $ 5,000 Payroll $ 7,130 Contract Services $ 8,700 Repairs & Maintenance $ 29.170 Other Services & Charges $ 1,350 Payroll $ 570 Repairs & Maintenance $ 2,400 Other Services & Charges $ 175 $ 468,842 $ 6,637,623 Resolution No. HA-28 Exhibit "A" REASON FOR CHANGE Payroll overhead increased from 39.6% to 41% Tree trimming, parking lot stripping Dues increase for onesite Roof repairs, wall landscape, upgrades, carport beams Payroll overhead increased from 39.6% to 41% Utility increase-3 heated pools Tree trimming, parking lot stripping Dues increase for onesite, temp labor for renovations Replacement of pool & spa heaters, roof repair, ADA ramps & sidewalks Payroll overhead increased from 39.6% to 41% Tree trimming, parking lot stripping Dues increase for onesite, temp labor for renovations Buillding & Apt addresses, community room furniture Payroll overhead increased from 39.6% to 41% Increase of courtesy patrol 3 days to 7 days a week Tree trimming, parking lot stripping Dues increase for onesite, temp labor for renovations 28, 34,55 Roof drains, interior upgrade 4.4 & 55, electrical, hedge removal & office Payroll overhead increased from 39.6% to 41% Tree trimming, parking lot stripping Dues increase for onesite, temp labor for renovations Payroll overhead increased from 39.6% to 41% Tree trimming, parking lot stripping Dues increase for onesite, temp labor for renovations Community Room Fumiture Payroll overhead increased from 39.6% to 41% Onesite Set up fee/office supply -computer Payroll overhead increased from 39.6% to 41% Tree trimming, parking lot stripping D s increase or onesite, temp labor for renovations Utility doors Payroll overhead increased from 39.6% to 41% + temp labor Additional courtesypatrol Tree trimming, paing lot strip Dues increase for onesite/office supply Payroll overhead increased from 39.6% to 41% Tree trimming Dues increase for onesite Housing AuthorityMidyear Adjustments Exhibits A & B 2005-2006 Total FUND/DEPARTMENT CITY OF PALM DESERT MID -YEAR 2005-2006 BUDGET REVIEW REVISED APPROPRIATIONS OPERATING BUDGET CHANGE INC/(DEC) KtviStu APPROPRIATIONS Facade Enhancement Program $ 442,500 04/05 Budget Not Carried Over to 05/06 $ 442,500 $ 942,500.00