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Home My WebLink AboutRDA RES 469RESOLUTION NO. 469 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, 2003 THROUGH JUNE 30, 2004 WHEREAS, the Board has received and considered the proposed Program and Financial Plan submitted by the Executive Director on June 13, 2003; 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 2003-2004 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 2003-2004 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 2002-2003 Fiscal Year. The amounts included in this exhibit include all unexpended amounts from purchase orders and contracts encumbered by June 30, 2003. PASSED, APPROVED AND ADOPTED at the regular meeting of the Palm Desert Redevelopment Agency held on this 26Tay of June, 2003, by the following vote, to wit: AYES: FERGUSON, KELLY, SPIEGEL, BENSON NOES: NONE ABSENT: CRITES ABSTAIN: NONE BENSON,GHAIRMAN ATTEST: RAC ELL D. KLASSE , SECRETARY CITY OF PALM DESERT, CALIFORNIA H 1WP511Bud 03-041res-rdafinplan0203 wpd City of Palm Desert Estimated Revenues Fiscal Year 2003-2004 RES. 469 Exhibit 1 ACTUAL - ACTUAL - ADOPTED - PROJECTED - REQUEST ACCOUNT NUMBERIACCOUNT DESCRIPTION I FY 00-01 FY 01-02 FY 02-03 FY 02-03 FY 03.04 DEBT SERVICE FUP'D - PALM DESERT FINANCE AUT H.-RDA Interest & Rentals 390-0000-361.14-00 INT-INT ON INV W/ TRUSTEE 350,000 350,000 350,000 Interfund Transfers In 390-0000-391.01-00 390-0000-391.xxxx 390-0000-391.xxxx 390-0000-391.xxxx 390-0000-391.xxxx 390-0000-391.xxxx 390-0000-391.xxxx 390-0000-391. xxxx INTERFUND OP TR IN Transfer In - Proj #1 Interest Transfer In - Proj #1 Principal Transfer In - Proj #2 Interest Transfer In - Proj #2 Principal Transfer In - Proj #4 Interest Transfer In - Housing - Interest Transfer In - Housing - Principal DEBT SERVICE FUND - PALM DESERT FINANCE AUT RDA PROJECT AREA #1 Charges for Services REIMB FROM OTHER GOVT SALE OF MAPS & PUBLICATNS C.O.D. -LIBRARY REIMB RIVERSIDE CO -LIBRARY REIM RESTITUTION DAMAGES/LITIG MISCELLANEOUS REVENUE Interest & Rentals INTEREST INCOME INT-INT ON INV W/ TRUSTEE INTEREST NON -POOLED RENTAL OF REAL PROPERTY 850-0000-335.95-00 850-0000-341.15-00 850-0000-349.95-07 850-0000-349.95-15 850-0000-379.90-00 850-0000-379.95-00 850-0000-361.10-00 850-0000-361.14-00 850-0000-361.16-00 850-0000-363.20-00 850-0000-391.00-00 Interfund Transfers In Other Financing 850-0000-393.37-00 PROCEEDS FROM ADVANCE RDA PROJECT AREA #1 350,000 350,000 15,155, 526 15,155,526 15,155,526 15,155.526 15, 886, 046 4,034,989 4,034,989 1,908,073 1,908,073 435,000 435,000 590,692 590,692 554,959 554,959 1,975,000 1,975,000 232,440 232,440 25,236,679 25,236,679 15,505,526 15,505,526 16,236,046 92,028 92,028 41,652 41,652 1,707,626 1,707, 626 277,402 277,402 7 008 7,008 2,679,167 2,679,167 120,000 415,000 120,000 120,000 415,000 415,000 400,000 400,000 400,000 10,000 1,200,000 1,500,000 1,200,000 4,804,883 4,804,883 2,135,000 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 851-0000-361.10-00 INTEREST INCOME 187,380 187,380 50,000 50,000 50,000 851-0000-361.14-00 INT-INT ON INV W/ TRUSTEE 61,273 61,273 - - 851-0000-377.70-00 INTEREST NON -POOLED 3,475 3,475 - - 851-0000-391.00-00 INTERFUND OP TR IN 1,014,228 1,014,228 200,000 365,000 255,000 IROC INTEREST ON NOTE - - - Other Financing 851-0000-393.37-00 PROCEEDS FROM ADVANCE RDA PROJECT AREA #2 1,266,356 1,266,356 250,000 415,000 305,000 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 47,409 47,409 25,000 45,000 41,000 1,000 1,000 1,000 47,409 47,409 26,000 46,000 42,000 79,420 79,420 55,000 130,000 82,000 331,278 331,278 410,698 410,698 55,000 130,000 82,000 City of Palm Desert Estimated Revenues Fiscal Year 2003-2004 RES. 469 Exhibit 1 ACCOUNT NUMBER1ACCOUNT DESCRIPTION DEBT SERVICE FUND - PROJECT AREA #1 Taxes 860-0000-317.10-00 TAX INCREMENTS 860-0000-317.11-00 TAX INCREMENTS PJ#1 ANNEX _ Interest & Rentals 860-0000-361.10-00 INTEREST INCOME 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 860-0000-379.97-13 REIMB CNTY TR 92TAB PRIN 860-0000-379.97-14 REIMB CNTY TR 92TAB INT DEBT SERVICE FUND - PROJECT AREA #1 - ACTUAL - ACTUAL - ADOPTED - PROJECTED - REQUEST - FY 00-01 FY 01-02 FY 02-03 FY 02-03 FY 03-04 6,632,383 6,632,383 6,856.362 6,687,874 7,174,253 17,460,268 17,460,268 21,893,338 22,780,930 23,602,363 724,102 724,102 100,000 100,000 100,000 165,625 165,625 166,000 166,000 166,000 314,688 314,688 319,000 319,000 319,000 25,297,066 25,297,066 29,334,700 30,053,804 31,361,616 DEBT SERVICE FUND - PROJECT AREA #2 Taxes 861-0000-317.10-00 TAX INCREMENTS 8,230,935 8,230,935 8,897,307 10,306,774 10,639,031 Interest & Rentals 861-0000-361.10-00 INTEREST INCOME 41,676 41,676 40,000 40,000 40,000 1NTERFUND - Transfer In 861-0000-391.00-00 INTERFUND OP TR IN - - - DEBT SERVICE FUND - PROJECT AREA #2 8,272,611 8,272,611 8,937,307 10,346,774 10,679,031 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 #4 864-0000-317.10-00 TAX INCREMENTS 864-0000-361.14-00 INTEREST ON SPECIAL ESCROW 864-0000-361.10-00 INTEREST INCOME DEBT SERVICE FUND - PROJECT AREA #4 1,076,387 1,076,387 1,246,850 1,340,874 1,381,841 21,055 21,055 15,000 15,000 15,000 1,097,442 1,097,442 1,261,850 1,355,874 1,396,841 5,443,553 5,443,553 6,998,331 7,177,172 7,394,463 58,866 58,866 30,000 30,000 5,502,419 5,502,419 7,028,331 7,207,172 30,000 7,424,463 City of Palm Desert Estimated Revenues Fiscal Year 2003-2004 RES. 469 Exhibit 1 - ACTUAL - ACTUAL - ADOPTED - PROJECTED " REQUEST ACCOUNT NUMBERIACCOUNT DESCRIPTION FY 00-01 FY 01-02 FY 02-03 FY 02-03 FY 03-04 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 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 1NTERFUND - Transfer In 870-0000-391.00-00 INTERFUND OP TR IN 870-0000-391.10-11 OP IN P#1 TI LM SET -ASIDE 870-0000-391.10-12 TR IN P#2 TI LM SET -ASIDE 870-0000-391.10-13 TR IN P#3 TI LM SET -ASIDE 870-0000-391.10-14 TR IN P#4 TI LM SET -ASIDE (REDEVELOPMENT HOUSING SET -ASIDE FUND 96,714 735,613 51,403 28,765 96,714 735,613 51,403 28,765 10,000 10,000 28,000 153,000 982,457 982,457 34,000 270,000 4,746,182 4,746,182 5,749,940 5,892,526 1,621,091 1,621,091 1,779,461 2,061,355 211,984 211,984 249,370 268,175 1,073,936 1,073,936 1,399,666 1,435,435 9,548,144 9,548,144 9,260,437 10,080,490 10,000 10,000 28,000 34,000 6,155,323 2,127, 806 276,368 1,478, 893 10,120,389 Exhibit 2 RES 469 PALM DESERT REDEVELOPMENT AGENCY APPROPRIATIONS. FOR FISCAL. YEAR 2003-2004 C FUND NAME APPROPRIATIONS FY 2003-2004 (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 7,211,598 3,400,000 2,792,600 4,332,000 27,982,502 9,437,612 821,814 7,079,810 11,393,892 74,451,828 I REDEVELOPMENT AGENCY CAPITAL IMPROVEMENT PROGRAM Exhibit 3 RES. NO.469 EXISTING PROJECTS IN FISCAL YEAR 2002-03 CONTINUED TO FY 2003-2004 PROJECT TITLE ESTIMATED PROJECT TOTAL FOR LIFE OF PROJECT ACCOUNT NUMBERS FUNDING SOURCES Trust Fund Homme/Adams Park 600,000 880-0000-239.91-00 Trust Fund 880 RDA Protect Area #1 Fund 850 Undergrounding-Major Arts Undergrounding-Neighborhood Entrada El Paseo-12 Acre Fred Waring Street Improvement Palms to Pines East Glasser Palms to Pines - Central Library Repairs Architectural Review Loan Program RDA Protect Area #2 Fund 851 Desert Willow Pads CVWD Well Site Development-DW Desert Willow Improvements RDA Protect Area #3 Fund 853 None 1,931,000 850-4255-464.40-01 3.000,000 850-4256-464.40-01 8,211,899 850-4358-433.40-01 9,165,000 850-4384-433.40-01 1,400,000 850-4435-464.40-01 800,000 850-4364-433.40-01 680,000 850-4662-454.40-01 50,000 850-4800-454.30-90 Continuing 851-4640-454.40-01 2,097,364 851-4619-433.40-01 Continuing 851-4663-454.40-01 RDA PJ Area#1 RDA PJ Area#1 RDA PJ Area#1 RDA PJ Area#1 RDA PJ Area#1 RDA PJ Area#1 RDA PJ Area#1 RDA PJ Area#1 RDA PJ Area#2 RDA PJ Area#2 RDA PJ Area#2 RDA Project Area #4 Fund 854 Regional Park 7,250,000 854-4670-454.40-01 RDA PJ Area#3 RDA SR Housing Fund 870 Palm Village Apartments 3,834,452 870-4349-433.40-01 Housing Fund 870 Fred Waring Drvie 544,301 870-4384-433.39-01 Housing Fund 870 Home Improvement Program 350,000 870-4473-464.40-01 Housing Fund 870 20/40 Acre Development 10,342,820 870-4698-466.40-01 Housing Fund 870 Acq/Rehab/Resale-HIP Continuing 870-4492-464.40-01 Housing Fund 870 Home Improvement Program Continuing 870-4493-464.40-01 Housing Fund 870 Property Acquisition Continuing 870-4495-464.40-01 Housing Fund 870 Desert Rose Continuing 870-4496-464.40-01 Housing Fund 870 Portola Palms Mobile Homes Continuing 870-4497-464.40-01 Housing Fund 870 Multi -Family Improvement 200,000 870-4499-464.40-01 Housing Fund 870 Rental Assistance Continuing 870-4688-464.40-01 Housing Fund 870 Mortgage Assistance Continuing 870-4689-464.40-01 Housing Fund 870 Home Buyer Assistance Continuing 870-4699-464.40-01 Housing Fund 870 TOTAL EXISTING PROJECTS NOTE: APPROPRIATIONS AND/OR ENCUMBRANCES FOR REBUDGET/CARRYOVER FROM FISCAL YEAR 2002-03 TO 2003-04 Continuing appropriations are amounts which have been appropriated in FY 2002-03 and are not expected to be expended by June 30, 2003. 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 fatal 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, 2003 for appropriations approved by the Agecny Board through the last meeting in June, 2003 BOLD ITEMS WERE APPROVED ON JUNE 12, 2003 FY 2002-03 to FY03-04 • SEE NOTE 546,257 500,000 919,105 3,850,337 184,535 1,200,000 800,000 163,350 47,000 43,099 96,748 26,491 5,069,588 3,773,583 0 350,000 0 358,846 216,470 2,000,000 92,609 102,726 200,000 50,000 50,000 299,955 I $20,940,699