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Home My WebLink AboutRDA RES 531RESOLUTION NO. 531 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, 2006 THROUGH JUNE 30, 2007 WHEREAS, the Board has received and considered the proposed Program and Financial Plan submitted by the Executive Director on June , 2006; 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 2006-2007 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 2006-2007 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 2005-2006 Fiscal Year. The amounts included in this exhibit include all unexpended amounts from purchase orders and contracts encumbered by June 30, 2006. PASSED, APPROVED AND ADOPTED at the regular meeting of the Palm Desert Redevelopment Agency held on this 22 day of June, 2006, by the following vote, to wit: AYES: BENSON, CRITES, KELLY, SPIEGEL, and FER NOES: NONE ABSENT: NONE ABSTAIN: NONE ATTEST: RACHELLE D. SPA, SECRETARY PALM DESERT REDEVELOPMENT AGENCY , DSO, CHAIRMAN res-rdafinp/an0607. wpd X RESOLUTION NO. 531 PALM DESERT ESTIMATED REVENUES, Exhibit 1 CATEGORY/FUND Actual Actual Adopted Projected Budget FY 03-04 FY 04-05 FY 05-06 FY 05-06 FY 06-07 Project Area 1 Fund: 1. Reimbursements 177,207 115,420 - 2. Interest 301,892 380,753 175,000 175,000 175,000 3. Transfers In 20,134,874 6,044,716 - - Total Proiect Area 1 Fund 20,613,973 6,540,889 175,000 175,000 175,000 Proiect Area 2 Fund: 1. Reimbursements 2. Interest Total Proiect Area 2 Fund 59,714 74,628 134,342 435,368 146,103 50,000 95,000 50,000 581,471 50,000 95,000 50,000 Proiect Area 3 Fund: 1. Interest 24,848 68,846 35,000 35,000 35,000 2. Transfers In 5,001,754 4,323 - - Total Project Area 3 Fund 5,026,602 73,169 35,000 35,000 35,000 Project Area 4 Fund: 1. Interest 2. Transfers In Total Proiect Area 4 Fund Debt Service 1 Fund: 1. Tax Increment 2. Interest 3. Reimbursement fm COD/County Total Debt Service 1 Fund 176,176 1,192, 901 1,369,077 33,192,856 177,973 479,842 33,850,671 2 88, 72 0 150,000 150,000 15 0, 00 0 5,210,617 5,499,337 150,000 150,000 150,000 36,861,769 712,883 515,343 38,089,995 37,242,713 350,000 753,300 38,346,013 42,345,261 41,192,533 350,000 350,000 753,300 753,300 43,448,561 42, 295,833 Page 1-35 RESOLUTION NO. 53;t PALM DESERT ESTIMATED REVENUES, Exhibit 1 CATEGORY / 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 Housing Fund: 1. Transfers In 2. Reimbursements 3. Interest Total Housing Fund Actual FY 03-04 12,387,750 61,096 12,448,846 2,163,267 21,480 2,184,747 8,250,907 22,032 8,272,939 12,357,247 299,693 184,078 12,841,018 Actual FY 04-05 13,184,843 90,000 13,274,843 2,371,983 48,712 2,420,695 9,595,403 85,345 9,680,748 Adopted FY 05-06 13,112,628 90,000 13,202,628 2,152,196 27,000 2,179,196 9,257,610 35,000 9,292,610 Projected Budget FY 05-06 FY 06-07 14,571,852 90,000 14, 661, 852 2,980,787 27,000 3,007,787 11,464,767 35,000 11,499,767 13,075,471 12,385,530 14,041,987 827,382 566,118 150,000 150,000 14,468,971 12,535,530 14,191,987 14,450,581 90,000 14,540,581 3,063,731 27,000 3,090,731 10,794,690 35,000 10,829,690 13,900,307 150,000 14,050,307 Page 1-36 RESOLUTION NO. 531 Exhibit 2 PALM DESERT REDEVELOPMENT AGENCY APPROPRIATIONS FOR FISCAL YEAR 2006.2007 FUND NAME 1 APPROPRIATIONS FY 2006-2007 'REDEVELOPMENT AGENCY FUNDS I Project Area #1 19,360,650 Project Area #2 15,651,400 Project Area #3 3,430,000 Project Area #4 9,886,000 Debt Service PJ Area #1 36,833,929 Debt Service PJ Area #2 13,927,911 Debt Service PJ Area #3 3,048,465 Debt Service PJ Area #4 10,327,132 Housing Set Aside 27,994,492 ITotal Redevelopment Agency Funds I 1 140,459,979 I RESOLUTION NO. 531 REDEVELOPMENT AGENCY CAPITAL IMPROVEMENT PROGRAM Exhibit 3 EXISTING PROJECTS IN FISCAL YEAR 2005-06 CONTINUED TO FY 2006-2007 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 Prolect Area #1 Fund 85Q Neighborhood Undergrounding Entrada El Paseo-12 Acre Portola Ave ref Whitewater Bridge Fred Waring Street Improvement Palms to Pines East Glasser Wallaroo Child Care Center Alessandro Alleyway Catalina Rec Facility Palm Desert Aquatic Facility RDA Prolect Area #2 Fund 851 Desert Willow Pads Land Acquisltlon/Open Space 36 Acres DW Parking - For Condition of Approval/Lakes Country Club @ Via Scena Light Regional Park CVWD Well Site Development -Desert Willow fif22112rsject Area #3 Fund 85 None RDA Prolect Area #4 Fund 854 Undergrounding Neighborhood Fred Waring Street Improvement Casey's Restaurant Regional Park TOTAL EXISTING PROJECTS 2,000,000 850-4256-464.40-01 8,211,899 850-4358-433.40-01 4,000,000 850-4359-433-40-01 9,165,000 850-4384-433.40-01 1,400,000 850-4435-464.40-01 Continuing 850-4545-454.40-01 175,000 850-4341-433.40-01 1,409,000 850-4433-433.40-01 Continuing 850-4549-454.40-01 Continuing 851-4640-454.40-01 13,000,000 851-4673-454.40-10 Continuing 851-4663-454.40-01 125,000 851-4675-433.40-01 2,827,425 851-4670-454.40-01 2,097,364 851-4619-433.40-01 2,500,000 854-4256-464.40-01 2,000,000 854-4384-433.40-01 3,100,000 854-4495-464.40-01 8,542,000 854-4670-454.40-01 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#1 RDA PJ Area#2 RDA PJ Area#3 RDA PJ Area#2 RDA PJ Area#2 RDA PJ Area#2 RDA PJ Area#2 RDA PJ Area#4 RDA PJ Area#4 RDA PJ Area#4 RDA PJ Area#4 NOTE: APPROPRIATIONS AND/OR ENCUMBRANCES FOR REBUDGET/CARRYOVER FROM FISCAL YEAR 2005-06 TO 2006-07 Continuing appropriations are amounts which have been appropriated in FY 2005-06 and am not expected to be expended by June 30, 2006. 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) unenctorbered balances as of June 30, 2006 for appropriations approved by the Agency through the last meeting in June, 2006. AMOUNT ARE SUBJECT TO CHANGE DUE TO PROJECTS THAT THE COUNCIL APPROVES PRIOR TO JUNE 30, 2006 Note:Above amounts are as of May 31, 2006 FY 2005-06 to FY06-07 • SEE NOTE 273,126 2,000,000 1,019,900 4,000,000 668,385 0 15,803 219,888 102,428 607,750 81,576 7,000,000 656,594 125,000 0 1,323,189 2,500,000 856,916 1,420 271,639 II $21,723,614 I