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HomeMy WebLinkAboutRDA RES 586RESOLUTION NO. 586 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, 2011 THROUGH JUNE 30, 2012 WHEREAS, the Board has received and considered the proposed Program and Financial Plan submitted by the Executive Director on June 23, 2011; 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 2011-2012 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 2011-2012 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 2010-2011 Fiscal Year. The amounts included in this exhibit include all unexpended amounts from purchase orders and contracts encumbered by June 30, 2011. PASSED, APPROVED AND ADOPTED at the regular meeting of the Palm Desert Redevelopment Agency held on this 23 day of June, 2011, by the following vote, to wit: AYES: FINERTY, HARNIK, KROONEN, SPIEGEL, and BENSON NOES: NONE ABSENT: NONE ABSTAIN: NONE JEAN M. BENSON, CH ATTEST: RAHELLE D. KLASSEN,'StCRETARY PALM DESERT REDEVELOPMENT AGENCY res-rdafinplanl0-11.docx2 w RESOLUTION NO. 586 PALM DESERT ESTIMATED REVENUES, Exhibit 1 CATEGORY / FUND Project Area 1 Fund: 2. Transfers In Total Proiect Area 1 Fund Financing Authority RDA: 1. Transfer In 3. Interest Total Debt Service 1 Fund Debt Service 1 Fund: 1. Tax Increment 2. Transfer In & Interest Total Debt Service 1 Fund Debt Service 2 Fund: 1. Tax Increment 2. Transfer In & Interest Total Debt Service 2 Fund Debt Service 3 Fund: 1. Tax Increment 2. Transfer In & Interest Total Debt Service 3 Fund Debt Service 4 Fund: 1. Tax Increment 2. Transfer In & Interest Total Debt Service 4 Fund Actual Budget Projected Budget FY 09-10 FY 10-11 FY 10-11 FY 11-12 1,257,659 1,257,659 33,369,740 33,862,994 33,862,994 33,729,849 33,369,740 33,862,994 33,862,994 33,729,849 52,155,348 48,169,714 48,573,710 48,206,350 122,178 131,884 52,277,526 48,301,598 48,573,710 48,206,350 18,562,862 17,170,756 15,199,011 15,038, 543 76,388 47,093 18,639,250 17,217,849 15,199,011 15,038, 543 4,796,609 4,424,678 4,272,422 4,227,287 31,902 12,339 4,828,511 4,437,017 4,272,422 4,227,287 13,129,446 12,353,193 12,353,193 11,794,224 66,128 33,685 13,195,574 12,386,878 12,353,193 11,794,224 Housing Fund: 1. Transfers In & Interest 19,053,112 16,423,669 16,423,669 15,853,281 Total Housing Fund 19,053,112 16,423,669 16,423,669 15,853,281 PZir1C 1-1c Exhibit 2 - RES. 586 PALM DESERT REDEVELOPMENT" AGENCY; APPROPRIATIiQNS FOR FISCAL YEAR 2011-2012 FUND NAME 1REDEVELOPMENT 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 2011-2012 2,974,389 572,500 146,500 350,500 44,110,995 15,117,384 3,528,840 11,443,560 16,252,529 94,497,197 REDEVELOPMENT AGENCY CAPITAL IMPROVEMENT PROGRAM Exhibit 3 NO. 586 EXISTING PROJECTS IN FISCAL YEAR 2010-11 CONTINUED TO FY 2011-2012 PROJECT TITLE RDA Proiect Area #1 Fund 850 Fire Station #33 Renovation Portola Ave Improvements & sidewalk Fred Waring & Monetery Ave. Turn Pockets Alessandro Alleyway Monterey Widening (CC to Ford) Property Acquisition Portola Properties/Adobe Villas El Paseo Revitalization RDA Proiect Area #2 Fund 851 Fire Station #71 Renovation NS Fire Station Portola © I-10 Monterey/Country Club to G. Ford Monterey ©1-10 Berger Circle Aquatic Facility NS Infrastructure (DW Well Sites) Police Academy (COD) RDA Project Area #3 Fund 853 Portola @ I-10 Cook Street Improvements Police Academy (COD) RDA Project Area #4 Fund 854 Underground Neighborhood Casey's Restaurant Kansas Street Pocket Park Police Academy (COD) TOTAL EXISTING PROJECTS ESTIMATED PROJECT TOTAL FOR LIFE OF PROJECT ACCOUNT NUMBERS 900,000 850-4220-464.40-01 974,135 850-4438-433.40-01 572,710 850-4383-433.40-01 5,681,708 850-4341-433.40-01 1,000,000 850-4363-433.40-01 Continuing 850-4495-464.40-01 220,000 850-4627-466.40-01 5,000,000 850-4679-464.40-01 900,000 851-4220-464.40-01 7,174,924 851-4270-422.40-01 4,300,000 851-4351-433.40-01 500,000 851-4363-433.40-01 2,000,000 851-4389-433.40-01 1,339,000 851-4432-464.40-01 6,000,000 851-4549-454.40-01 2,097,364 851-4619-433.40-01 500,000 851-4800-454.39-04 8,200,000 853-4351-433.40-01 3,000,000 853-4385-433.40-01 500,000 853-4800-454.39-04 13,380,000 854-4256-464.40-01 Continuing 854-4495-499.40-10 250,000 854-4625-454.40-01 500,000 854-4800-454.39-04 NOTE: APPROPRIATIONS AND/OR ENCUMBRANCES FOR REBUDGET/CARRYOVER FROM FISCAL YEAR 2010-11 TO 2011-12 FUNDING SOURCES 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#2 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#3 RDA PJ Area#4 RDA PJ Area#4 RDA PJ Area#4 RDA PJ Area#4 Continuing appropriations are amounts which have been appropriated in FY 2010-11 and are not expected to be expended by June 30, 2011. 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, 2011 for appropriations approved by the Agency through the last meeting in June, 2011. AMOUNTS ARE SUBJECT TO CHANGE DUE TO PROJECTS APPROVED BY COUNCIL PRIOR TO JUNE 30, 2011 Note:Above amounts are as of March, 2011 FY 2010-11 to FY11-12 • SEE NOTE 384,479 927,463 466,666 4,689,188 985,720 737,157 32,279 4,412,889 377,528 7,174,924 4,122, 034 500,000 734,096 172,715 647,824 1,323,189 200,000 8,200,000 2,639,182 500,000 13,151,155 89,171 62,507 500,000 1 $53,030,166 I