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Home My WebLink AboutRDA RES 503RESOLUTION NO. 503 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, 2005, THROUGH JUNE 30, 2006 WHEREAS, the Board has received and considered the proposed Program and Financial Plan submitted by the Executive Director on June, 2005; 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 2005-2006 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 2005-2006 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 2004-2005 Fiscal Year. The amounts included in this exhibit include all unexpended amounts from purchase orders and contracts encumbered by June 30, 2005. PASSED, APPROVED AND ADOPTED at the regular meeting of the Palm Desert Redevelopment Agency held on this 23rd day of June, 2005, by the following vote, to wit: AYES: BENSON, FERGUSON, KELLY, SPIEGEL, and CRITES NOES: NONE ABSENT: NONE ABSTAIN: NONE -iv, BUFO',�:� , CHAIRMAN ATTEST: RA ELLE D. KLASSE , SECRETA RY A RESOLUTION NO. 503 PALM DESERT ESTIMATED REVENUES. Exhibit 1 CATEGORY/FUND Protect Area 1 Fund: 1. Reimbursements 2. Interest 3. Transfers In Total Protect Area 1 Fund Proiect Area 2 Fund: 1. Reimbursements 2. Interest Total Proiect Area 2 Fund Proiect Area 3 Fund: 1. Interest 2. Transfers In Total Proiect Area 3 Fund Actual Adopted Projected Budget FY 03-04 FY 04-05 FY 04-05 FY 05-06 177,207 301,892 20,134,874 20,613,973 400,000 700,000 1,100,000 175,000 175,000 700,000 875,000 175,000 59,714 74,628 50,000 95,000 50,000 134,342 50,000 95,000 50,000 24,848 5,001,754 5,001,754 185,000 185,000 35,000 35,000 185,000 185,000 35,000 Proiect Area 4 Fund: 1. Interest 176,176 - 150,000 150,000 2. Transfers In 1,192,901 186,000 186,000 Total Proiect Area 4 Fund 1,369,077 186,000 336,000 150,000 Debt Service 1 Fund: 1. Tax Increment 2. Interest 3. Reimbursement fm COD/County Total Debt Service 1 Fund Debt Service 2 Fund: 1. Tax Increment 2. Interest Total Debt Service 2 Fund Debt Service 3 Fund: 1. Tax Increment 2. Interest Total Debt Service 3 Fund Debt Service 4 Fund: 1. Tax Increment 2. Interest Total Debt Service 4 Fund 33,192,856 33,435,860 35,422,000 37,242,713 177,973 697,000 350,000 350,000 479,842 753,312 753,300 753,300 33,850,671 34,886,172 36,525,300 38,346,013 12,387,750 61,096 12,448,846 2,163,267 21,480 2,184,747 8,250,907 22,032 8,272,939 12,483,000 225,000 12,708,000 2,102,000 50,000 2,152,000 8,269,000 35,000 8,304,000 12,711,000 90,000 12,801,000 2,135,000 27,000 2,162,000 8,975,000 35,000 9,010,000 13,112,628 90,000 13,202,628 2,152,196 27,000 2,179,196 9,257,610 35,000 9,292,610 RESOLUTION NO. 503 PALM DESERT ESTIMATED REVENUES, Exhibit 1 CATEGORY/FUND Housing Fund: 1. Transfers In 2. Reimbursements 3. Interest Total Housing Fund Housing Authority Fund: 1. Rent fm Apartments/Interest 2. Reimbursement Total Housing Authority Fund Actual Adopted Projected Budget FY 03-04 FY 04-05 FY 04-05 FY 05-06 12, 357, 247 14, 775,403 14, 775,403 12, 385, 530 299,693 636,300 184,078 314,800 150,000 12, 841, 018 14, 775, 403 15, 726, 503 12, 535, 530 4,762,955 5,326,033 4,686,459 4,673,623 4,527 4,767,482 5,326,033 4,686,459 4,673,623 RESOLUTION NO. 503 Exhibit a. PALM DESERT REDEVELOPMENT.AQENCY :APPROPRIATIONS FOR FISCAL YEAR 2005-2006 FUND NAME APPROPRIATIONS FY 2005-2006 1REDEVELOPMENT AGENCY FUNDS Project Area #1 8,770,050 Project Area #2 551,400 Project Area #3 180,000 Project Area #4 236,000 Debt Service PJ Area #1 33,957,072 Debt Service PJ Area #2 11,975,183 Debt Service PJ Area #3 2,071,626 Debt Service PJ Area #4 8,989,849 Housing Set Aside 23,722,613 Total Redevelopment Agency Funds 90,453,793 RESOLUTION ITION NO. 503 REDEVELOPMENT AGENCY CAPITAL IMPROVEMENT PROGRAM EXISTING PROJECTS IN FISCAL YEAR 2004-05 CONTINUED TO FY 2005-2006 PROJECT TITLE Trust Fund Homme/Adams Park RDA Project Area #1 Fund 850 San Marino Parking Lot Improvements Entrada El Paseo-12 Acre Fred Waring Street Improvement Palms to Pines East Glasser Palms to Pines - Central Perimeter Landscaping Catalina Rec Facility COD Pool RDA Project Area #2 Fund 851 Desert Willow Pads OW Parking - For Condition of Approval/Lakes Perimeter Landscaping CVWD Well Site Development -Desert Willow RDA Project Area #3 Fund 853 Perimeter Landscaping Corp Yard RDA Project Area #4 Fund 854 Undergrounding Neighborhood Fred Waring Street Improvement Warner Trail Storm Drains Property Acqusstion Regional Park RDA SR HousIna Fund 870 Palm Village Apartments Country Club Estates Property Acquisition 20 Acre Site Development TOTAL EXISTING PROJECTS ESTIMATED PROJECT TOTAL FOR LIFE OF PROJECT ACCOUNT NUMBERS 600,000 880-0000-239.91-00 Continuing 850-4373-454.40-10 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 96,634 850-4388-433-4001 1,409,000 850-4433-433.40-01 461,062 850-4549-454.40-01 Continuing 851-4640-454.40-01 Continuing 851-4663-454.40-01 252,845 851-4388-433-4001 2,097,364 851-4619-433.40-01 16,304 853-4388-433.40-01 75,000 853-4330-466.40-01 2,500,000 854-4256-464.40-01 2,000,000 854-0384-433.40-01 3,100,000 854-4547433.40-01 5,675,000 854-4495-499.40-10 7,250,000 854-4670-454.40-01 6,859,981 870-4349-433.40-01 3,070,000 870-4480-464.40-01 Continuing 870-4495-464.40-01 Continuing 870-4495-464.40-01 FUNDING SOURCES Trust Fund 880 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 PJ Area#2 RDA PJ Area#3 RDA PJ Area#3 RDA PJ Area#4 RDA PJ Area#4 RDA PJ Area#4 RDA PJ Area#4 RDA PJ Area#4 Housing Fund 870 Housing Fund 870 Housing Fund 870 Housing Fund 870 NOTE: APPROPRIATIONS AND/OR ENCUMBRANCES FOR REBUDGET/CARRYOVER FROM FISCAL YEAR 2004-05 TO 2005-06 Continuing appropriations are amounts which have been appropriated in FY 2004-05 end are not expected to be expended by June 30, 2005. 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 canyover 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, 2005 for appropriations approved by the Agency through the last meeting in June, 2005. AMOUNT ARE SUBJECT TO CHANGE DUE TO PROJECTS THAT THE COUNCIL APPROVES PRIOR TO JUNE 30, 2005 Note:Above amounts are as of May 31, 2005 Exhibit 3 FY 2004-05 to FY05-06 • SEE NOTE 324,553 8,000 2,029,471 782,993 1,425,000 800,000 89,364 100,000 461,062 25,000 678,972 241,845 1,324,749 12,429 75,000 2,500,000 2,000,000 250,000 5,675,000 7,853,724 106,518 3,070,000 11,251,069 2,125,900 $43,210,649 I