HomeMy WebLinkAboutRDA RES 449RESOLUTION NO. 449
A RESOLUTION OF THE BOARD OF THE
PALM DESERT REDEVELOPMENT AGENCY, PALM DESERT, CALIFORNIA,
ADOPTING A PROGRAM AND FINANCIAL PLAN
FOR THE FISCAL YEAR JULY 1, 2002 THROUGH JUNE 30, 2003
WHEREAS, the Board has received and considered the proposed Program and Financial
Plan submitted by the Executive Director on June 28, 2002; and
WHEREAS, after due notice, the Board held a public hearing on the proposed plan.
NOW, THEREFORE, BE IT RESOLVED by the Board of the Palm Desert Redevelopment
Agency, Palm Desert, California, that:
1. The amounts shown on Exhibit 1, "Estimated Revenues," are hereby accepted as
the Estimated Revenues for the 2002-2003 Fiscal Year for each fund and revenue source.
2. The amounts shown on Exhibit 2, "Appropriations," are hereby appropriated to the
departments and activities indicated. The Executive Director, or his duly appointed
representative, will have the authority to approve intra-departmental budgeted line -item
variations; additional appropriations or inter -departmental budget transfers will be
specifically approved by further Redevelopment Board action during the 2002-2003 Fiscal
Year as the need arises.
3. The amounts shown on Exhibit 3, "Continuing Appropriations, Existing Capital
Projects," are hereby accepted as continuing appropriations from the 2001-2002 Fiscal
Year. The amounts included in this exhibit include all unexpended amounts from purchase
orders and contracts encumbered by June 30, 2002.
PASSED, APPROVED AND ADOPTED at the regular meeting of the Palm Desert
Redevelopment Agency held on this 27thday of June, 2002, by the following vote, to wit:
AYES: BENSON, FERGUSON, SPIEGEL, KELLY
NOES: NONE
ABSENT: CRITES
ABSTAIN: NONE
SHEI GILL'GAN fy` CRETARY
CITY OF PALM D"T, CALIFORNIA
RI
H.\ogsbson1WP5118udO2 res-rdafrnplan0203.wpd
xx
Estimated Revenues
Fiscal Year 2002-2003
DEBT SERVICE FUND - PALM DESERT FINANCE AUTO. -RDA
Interest & Rentals
390-0000-361.14-00 INT-INT ON INV W/ TRUSTEE
Interfund Transfers In
390-0000-391.01-00 INTERFUND OP TR IN 15,155,526 15,155,526
390-0000-391.xxxx Transfer In - Proj #1 Interest 4,088,505 4,034,989
390-0000-391.xxxx Transfer In - Proj #1 Principal 2,721,249 1,908,073
390-0000-391.xxxx Transfer In - Proj #2 Interest 605,000 435,000
390-0000-391.xxxx Transfer In - Proj #2 Principal 1,189,808 590,692
390-0000-391.xxxx Transfer In - Proj #4 Interest 555,074 554,959
390-0000-391.xxxx Transfer In - Housing - Interest 1,800,000 1,975,000
390-0000-391.xxxx Transfer In - Housing - Principal 251,884 232,440
DEBT SERVICE FUND - PALM DESERT FINANCE AUT 26,717,046 25,236,679
RDA PROJECT AREA #1
Charges for Services
850-0000-335.95-00 REIMB FROM OTHER GOVT 103,512 -
850-0000-341.15-00 SALE OF MAPS & PUBLICATNS
850-0000-349.95-07 C.O.D. -LIBRARY REIMB
850-0000-349.95-15 RIVERSIDE CO -LIBRARY REIM 92,028 415,000 415,000 415,000
850-0000-379.90-00 RESTITUTION DAMAGES/LITIG
850-0000-379.95-00 MISCELLANEOUS REVENUE
Interest & Rentals
850-0000-361.10-00 INTEREST INCOME 41,652
850-0000-361.14-00 INT-INT ON INV W/ TRUSTEE 1,224,252 1,707,626 400,000 400,000 400,000
850-0000-361.16-00 INTEREST NON -POOLED 208,590 277,402
850-0000-363.20-00 RENTAL OF REAL PROPERTY 4,386 7,008 10,000
350,000 350,000
850-0000-391.00-00 Interfund Transfers In 4,521,742
Other Financing
850-0000-393.37-00 PROCEEDS FROM ADVANCE
350,000
15,155,526
15, 505, 526
120,000
PRE
RES. 449
Exhibit 1
TE Rix.
350,000 350,000
15,155, 526
15,505,526
120,000
15,155,526
15,505,526
120,000
2,679,167 1,500,000 1,500,000 1,200,000
RDA PROJECT AREA #1 6,062,482 4,804,883 2,435,000 2,445,000 2,135,000
RDA PROJECT AREA #2
Charges for Services
851-0000-341.15-00 SALE OF MAPS & PUBLICATNS
851-0000-392.11-00 SALE OF FIXED ASSETS -LAND
Interest & Rentals
INTEREST INCOME
INT-INT ON INV W/ TRUSTEE
INTEREST NON -POOLED
INTERFUND OP TR IN
IROC INTEREST ON NOTE
Other Financing
851-0000-393.37-00 PROCEEDS FROM ADVANCE
RDA PROJECT AREA #2
851-0000-361.10-00
851-0000-361.14-00
851-0000-377.70-00
851-0000-391.00-00
RDA PROJECT AREA #3
853-000-391.00-00 Inter fund Transfers In
853-0000-361.10-00 INTEREST INCOME
RDA PROJECT AREA #3
RDA PROJECT AREA #4
854-0000-391.00-00 Interfund Transfers In
854-0000-361.10-00 INTEREST INCOME
RDA PROJECT AREA #4
270,661
285,329
4,861
4,293,508
4,854,359
48,987
48,987
214,584
214,625
429,209
187,380 50,000 50,000 50,000
61,273 -
3,475 -
1,014,228 365,000 365,000 200,000
1,266,356 415,000 415,000 250,000
47,409 45,000 45,000 25,000
1,000 1,000 1,000
47,409 46,000 46,000 26,000
79,420 130,000 130,000 55,000
331,278
410,698 130,000 130,000 55,000
Estimated Revenues
Fiscal Year 2002-2003
RES `dNO. 449
Exhibit 1
DEBT SERVICE FUND - PROJECT AREA #1
Taxes
860-0000-317.10-00 TAX INCREMENTS 5,940,736 6,632,383 6,687,874 6,687,874 6,856,362
860-0000-317.11-00 TAX INCREMENTS PJ#1 ANNEX 13,714,716 17,460,268 17,158,661 19,314,000 21,893,338
Interest & Rentals
860-0000-361.10-00 INTEREST INCOME 299,614 724,102 100,000 100,000 100,000
Charges for Services
860-0000-379.90-00 RESTITUTION DAMAGES/LITIG
860-0000-379.97-11 REIMB DSUSD TR 92TAB PRIN
860-0000-379.97-12 REIMB DSUSD TR 92TAB INT 168,118 165,625 166,000 166,000 166,000
860-0000-379.97-13 REIMB CNTY TR 92TAB PRIN
860-0000-379.97-14 REIMB CNTY TR 92TAB INT 319,424 314,688 319,000 319,000 319,000
DEBT SERVICE FUND - PROJECT AREA #1 20,442,608 25,297,066 24,431,535 26,586,874 29,334,700
DEBT SERVICE FUND - PROJECT AREA #2
Taxes
861-0000-317.10-00 TAX INCREMENTS 7,390,309 8,230,935 8,206,728 8,450,000 8,897,307
Interest & Rentals
861-0000-361.10-00 INTEREST INCOME 70,844 41,676 40,000 40,000 40,000
INTERFUND - Transfer In
861-0000-391.00-00 INTERFUND OP TR IN - - -
DEBT SERVICE FUND - PROJECT AREA #2 7,461,153 8,272,611 8,246,728 8,490,000 8,937,307
DEBT SERVICE FUND - PROJECT AREA #3
863-0000-317.10-00 TAX INCREMENTS
863-0000-361.10-00 INTEREST INCOME
DEBT SERVICE FUND - PROJECT AREA #3
DEBT SERVICE FUND - PROJECT AREA #4
871,862 1,076, 387 1,061,271 1,166,738 1,246,850
14,225 21,055 15,000 15,000 15,000
886,087 1,097,442 1,076,271 1,181,738 1,261,850
864-0000-317.10-00 TAX INCREMENTS 4,322,997 5,443,553 5,150,753 6,049,458 6,998,331
864-0000-361.14-00 INTEREST ON SPECIAL ESCROW
864-0000-361.10-00 INTEREST INCOME 71,437 58,866 30,000 30,000 30,000
DEBT SERVICE FUND - PROJECT AREA #4 1 4,394,434 5,502,419 5,180,753 6,079,458 7,028,331
Estimated Revenues
Fiscal Year 2002-2003
RES.NO. 449
Exhibit 1
REDEVELOPMENT
870-0000-318.29-00
870-0000-361.10-00
870-0000-361.14-00
870-0000-361.15-00
870-0000-363.20-00
870-0000-374.10-00
870-0000-379.92-00
870-0000-379.99-00
870-0000-391.00-00
870-0000-391.10-11
870-0000-391.10-12
870-0000-391.10-13
870-0000-391.10-14
'REDEVELOPMENT
HOUSING SET -ASIDE FUND
Taxes
HOUSING MITIGATION FEE
Interest & Rentals
INTEREST INCOME
INT-INT ON INV W/ TRUSTEE
INT-FR LOAN/NOTES REC(HIP)
RENTAL OF PROPERTY-Portola
Charges for Services
PROCEEDS-LOANS/NOTES REC
MISC REIMBURSEMENTS
MISC REVENUE -OTHERS
INTERFUND - Transfer In
INTERFUND OP TR IN
OP IN P#1 TI LM SET -ASIDE
TR IN P#2 TI LM SET -ASIDE
TR IN P#3 TI LM SET -ASIDE
TR IN P#4 TI LM SET -ASIDE
HOUSING SET -ASIDE FUND
9,874
(12,307)
31,716
96,714
735,613
51,403
28,765
10,000
10,000
28,000
153,000
207,756 982,457 34,000 270,000
3,868,431 4,746,182 4,768,000 5,200,375
1,454,141 1,621,091 1,641,000 1,690,000
171,507 211,984 212,000 233,348
853,567 1,073,936 1,030,200 1,209,892
6,584,685 9,548,145 7,733,200 : 8,756,614
10,000
10,000
28,000
34,000
5,749,940
1,779,461
249,370
1,399,666
9,260,437
FUND NAME
!REDEVELOPMENT AGENCY FUNDS
Project Area #1
Project Area #2
Project Area #3
Project Area #4
Debt Service PJ Area #1
Debt Service PJ Area #2
Debt Service PJ Area #3
Debt Service PJ Area #4
Housing Set Aside
!Total Redevelopment Agency Funds
APPROPRIATIONS
FY 2002-2003
8,647,449
2,267,500
587,500
554,000
26,032,458
8,189, 799
1,253,649
6,967,506
15,316,724
69,816,585
REDEVELOPMENT AGENCY
CAPITAL IMPROVEMENT PROGRAM
EXISTING PROJECTS IN FISCAL YEAR 2001.02 CONTINUED TO FY 2002 2003
PROJECT TITLE
RDA Project Area #1 Fund 850
Undergrounding-Major Arts
Undergrounding-Neighborhood
Undergrounding-HWY 74
Entrada El Paseo-12 Acre
Fred Waring Street Improvement
UCR Infrastructure
Palms to Pines East Project
Open Space Land Acquisition
Library Repairs
Business Enhance Loan Program
Architectural Review Loan Program
RDA Proiect Area #2 Fund 851
Desert Willow Pads
CVWD Well Site Development-DW
RDA Proiect Area #3 Fund 853
None
RDA Project Area #4 Fund 854
Regional Park
RDA Projects
RDA SR Housing Fund 870
Acq/Rehab/Resale-HI P
Home Improvement Program
Property Acquisition
Desert Rose
Multi -Family Improvement
20/40 Acre Development
Multi -Family Acquisition
TOTAL EXISTING PROJECTS
ESTIMATED
PROJECT
TOTAL FOR
LIFE OF
PROJECT
ACCOUNT
NUMBERS
FUNDING
SOURCES
1,931,000 850-4255-464 40-01 Unfund-Area#1
3,000,000 850-4256-464.40-01 Current Bonds-Area#1
850-4256-464 40-01 Unfund-Area#1
2,100,000 850-4257-464.40-01 Current Bonds-Area#1
4,888,400 850-4358-433.40-01 Cash & Current Bonds-#1
5,265,000 850-4384-433.40-01 Cash & Current Bonds-#1
2,000,000 850-4431-464.40-01 Current Bonds-Area#1
1,000,000 850-4435-464.40-01 Current Bonds-Area#1
2,482,000 850-4673-454.40-10 Cash-Areat#1
680,000 850-4662-454.40-01 Cash-Areat#1
950,000 850-4800-454 38-75 RDA PJ Area#1
50,000 850-4800-454 30-90 RDA PJ Area#1
200,000 851-4640-454.40-01
1,097,364 851-4619-433.40-01
Cash-Areat#2
Cash-Areat#2
7,250,000 854-4670-454.40-01 Current Bonds-Area#4
2,238,582 854-4627-466.40-01 Current Bonds-Area#4
Continuing 870-4492-464.40-01
Continuing 870-4493-464.40-01
Continuing 870-4495-464.40-01
Continuing 870-4496-464.40-01
200,000 870-4499-464.40-01
5,972,820 870-4698-466.40-01
8,000,000 870-XXXX-XXX.40-10
NOTE: APPROPRIATIONS AND/OR ENCUMBRANCES FOR REBUDGET/CARRYOVER
FROM FISCAL YEAR 2001-02 TO 2002-03
Housing Fund 870
Housing Fund 870
Housing Fund 870
Housing Fund 870
Housing Fund 870
Housing Fund 870
Housing Fund 870
Continuing appropriations are amounts which have been appropriated in FY 2001-02 and are not expected to be expended by
June 30, 2002. These funds are primarily for capital budgets and specific programs That overlap fiscal years. When authorized,
continuing appropriation amounts are added to the new fiscal year budget amounts in order to track all approved spending.
The exact amount of appropriations for carryover in each fund indicated will be determined at the end of the fiscal year during the
preparation of financial statements. This amount will include: 1) purchase orders and contracts encumbered totals and
2) unencumbered balances as of June 30, 2002 for appropriations approved by the Agecny Board through the last meeting in
June, 2002.
Exhibit 3
N0.449
FY 2001-02
to FY02-03
• SEE NOTE
1,931,000
1,500,000
1,500,000
2,100, 000
4,332,354
2,146,701
2,000,000
1,000,000
1,736,581
185,408
754,000
50,000
123,148
1,082,192
7,250,000
2,238,582
500,OOC
274,39E
359,970
9,927
200,000
4,383,894
8,000,000
$43,658,153 I