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RESOLUTION NO. 540
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, 2007 THROUGH JUNE 30, 2008
WHEREAS, the Board has received and considered the proposed Program and
Financial Plan submitted by the Executive Director on June 1, 2007; 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, Califomia, that:
1. The amounts shown on Exhibit 1, "Estimated Revenues," are hereby accepted
as the Estimated Revenues for the 2007-2008 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 2007-2008
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 2006-2007 Fiscal
Year. The amounts included in this exhibit include all unexpended amounts from
purchase orders and contracts encumbered by June 30, 2007.
PASSED, APPROVED AND ADOPTED at the regular meeting of the Palm Desert
Redevelopment Agency held on this 26thay of June, 2007, by the following vote, to wit:
AYES: BENSON, FINERTY, SPIEGEL and KELLY
NOES: NONE
ABSENT: FERGUSON
ABSTAIN: NONE
ATTEST:
RA :i:i E D. KLASSEN, "CITYY CLERK
CiTY OF PALM DESERT, CALIFORNIA
S. KELLY, MAYOR ly
res-rdafinplan0708. wpd
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PALM DESERT ESTIMATED REVENUES, Exhibit 1
RESOLUTION NO. 540
Actual Actual Adopted Projected Budget
CATEGORY / FUND FY 04-05 FY 05-06 FY 06-07 FY 06-07 FY 07-08
Project Area 1 Fund:
1. Reimbursements 115,420 5,001
2. Interest 380,753 584,143 175,000 969,371 650,000
3. Transfers In 6,044,716 5,424,665 - 38,390,074
Total Proiect Area 1 Fund 6,540,889 6,013,809 175,000 39,359,445 650,000
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
Proiect 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
435,368
146,103
581,471
7,628,359
219,483
7,847,842
50,000
50,000
51,163,159
1,047,711
52,210,870
600,000
600,000
68,846 114,917 35,000 319,200 100,000
4,323 2,670,006 - 13,903,863
73,169 2,784,923 35,000 14,223,063 100,000
288,720
5,210,617
5,499,337
36,861,769
712,883
515,343
38,089,995
634,693 150,000 484,154 200,000
1,379,767 17,821,567
2,014,460 150,000 18, 305, 721 200,000
45,766,926 41,192,533 44,804,391 47,098,006
884,256 350,000 1,500,000 1,500,000
490,431 753,300 574,000 488,700
47,141,613 42,295,833 46,878,391 49,086,706
Page 1-34
PALM DESERT ESTIMATED REVENUES, Exhibit 1
;ATEGORY/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
RESOLUTION NO. 540
Actual Actual Adopted Projected Budget
FY 04-05 FY 05-06 FY 06-07 FY 06-07 FY 07-08
13,184, 843 15,218, 315 14,450, 581 15, 714, 508 16, 633, 905
90,000 317,722 90,000 501,719 400,000
13, 274, 843 15, 536, 037 14, 540, 581 16,216, 227 17,033, 905
2,371,983
48,712
2,420,695
9,595,403
85,345
9,680,748
Housing Fund:
1. Transfers In 13,075,471
2. Reimbursements 827,382
Interest 566,118
J otal Housina Fund 14,468,971
3,442,565
88,588
3,531,153
3,063,731
27,000
3,090,731
3,400,747 3,444,419
100,000 100,000
3,500,747 3,544,419
12,596,184 10, 794,690 12,105,349 12,494,103
88,489 35,000 100,000 100,000
12,684,673 10,829,690 12,205,349 12, 594,103
16,454,413 13,900,307 22,617,399 15,336,000
142,323 120,070 120,000
717,827 150,000 500,000
17,314,563 14,050,307 22,737,469 15,956,000
Page 1-35
Exhibit 2 RESOLUTIi N NO. 540
PALM DESERT REDEVELOPMENT AGENCY APPROPRIATIONS
FOR FISCAL YEAR 2007-2008
FUND NAME
APPROPRIATIONS
FY 2007-2008
'REDEVELOPMENT AGENCY FUNDS I
Project Area #1 11,519,480
Project Area #2 17,273,750
Project Area #3 8,880,000
Project Area #4 5,736,000
Debt Service PJ Area #1 41,712,976
Debt Service PJ Area #2 16,377,258
Debt Service PJ Area #3 3,135,865
Debt Service PJ Area #4 11,295,486
Housing Set Aside 16,489,900
'Total Redevelopment Agency Funds
132,420,715 I
REDEVELOPMENT AGENCY
CAPITAL IMPROVEMENT PROGRAM
Exhibit 3
RESOLUTION NO. 540
EXISTING PROJECTS IN FISCAL YEAR 2006-07 CONTINUED TO FY 2007-2008
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
/iDA Protect Area #1 Fund 850
Neighborhood Undergrounding
Alessandro Alleyway
Entrada Del Paseo
Portola Bridge Widening
Fred Waring Widening
Catalina Recreation Facility
President's Plaza
El Paseo Image Extension
RDA Protect Area 42 Fund 851
Monterey @ 1-10
No. Sphere Infrastructure
DW Parking - For Condition of Approval/Lakes
Freedom Park
RDA Protect Area 43 Fund 853
Cook Street Improvements
Falcon/Hovley Perimeter Landscaping
RDA Protect Area 44 Fund 854
Underground Neighborhood
Fred Waring Street Improvements
Casey's Restaurant
Freedom Park
TOTAL EXISTING PROJECTS
4,500,000 850-4256-464.40-01
5,520,462 850-4341-433.40-01
Continuing 850-4358-433.40-01
6,000,000 850-4359-433.40-01
Continuing 850-4384-433.40-01
1,309,000 850-4433-433.40-01
1,200,000 850-4436-422.40-01
1,650,000 850-4679-464.40-01
2,000,000 851-4389-433.40-01
2,097,364 851-4619-433.40-01
Continuing 851-4663-454.40-01
2,827,425 851-4670-454.40-01
3,000,000 853-4385-433.40-01
250,000 853-4388-433.40-01
9,000,000 854-4256-464.40-01
Continuing 854-4384-433.40-01
Continuing 854-4495-499.40-10
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#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
NOTE: APPROPRIATIONS AND/OR ENCUMBRANCES FOR REBUDGET/CARRYOVER
FROM FISCAL YEAR 2006-07 TO 2007-08
Continuing appropriations are amounts which have been appropriated in FY 2006-07 and are not expected to be expended by
June 30, 2007. 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, 2007 for appropriations approved by the Agency through the last meeting in
June, 2007.
AMOUNT ARE SUBJECT TO CHANGE DUE TO PROJECTS THAT THE COUNCIL APPROVES PRIOR TO JUNE 30, 2007
Note:Above amounts are as of June 15, 2007
FY 2006-07
to FY07-08
• SEE NOTE
267,250
970,000
4,697,399
555,630
3,835,811
668,385
80,450
1,200,000
1,650,000
2,000,000
1,323,189
751,085
238,911
3,000,000
250,000
9,000,000
3,717,022
151,420
266,369
' $34,622,921