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HomeMy WebLinkAboutRprt - H&S Sec. 33080.1XT S CITY OF PALM DESERT/PALM DESERT REDEVELOPMENT AGENCY STAFF REPORT REQUEST: RECEIVE AND FILE REPORT PURSUANT TO SECTION 33080.1 OF THE HEALTH AND SAFETY CODE SUBMITTED BY: DAVID YRIGOYEN, DIRECTOR OF REDEVELOPMENT AND HOUSING DATE: JANUARY 24, 2008 CONTENTS: REPORT PURSUANT TO SECTION 33080.1 OF THE HEALTH AND SAFETY CODE Recommendation: By Minute Motion, that the Agency Board receive and file the Report pursuant to Section 33080.1 of the Health and Safety Code. Discussion: On December 28, 2007, you received a copy of the Report pursuant to the Health and Safety Code 33080.1. The Health and Safety Code requires that every redevelopment agency present an annual report to its legislative body within six months of the end of the Agency's fiscal year. This report is a compilation of seven (7) independent reports which consist of the following: 1. The independent financial audit report for the Agency's previous fiscal year, including the Agency's Low and Moderate Income Housing Fund, with the opinion on the Agency's operations and financial positions 2. A fiscal statement for the previous fiscal year that contains the following information: a. The amount of outstanding indebtedness of the Agency and each project area b. The amount of tax increment revenues generated by the Agency and in each project area c. The amount of tax increment revenues paid to or spent on behalf of a taxing agency other than a college or a college district d. The financial transactions report e. The amounts allocated to schools and colleges pursuant to several codes f. The amount of payments required to be on existing indebtedness Staff Report Report Pursuant to Section 33080.1 of the Health & Safety Code Page 2of2 January 24, 2008 3. A description of the Agency's activities in the previous fiscal year affecting housing and displacement. 4. A description of the Agency's progress including specific actions and expenditures in alleviating blight in the previous fiscal year, the Third Five -Year Implementation Plan, Amendment No. 1 to the Third Five -Year Implementation Plan, the Five -Year Implementation Plan Mid Process Report, and a list of Time Limitations. 5. A list of and status report on all loans made by the Agency that are $50,000.00 or more that in the previous fiscal year were in default or not in compliance with the terms of the loan approved. 6. A description of the total number and nature of properties that the Agency owns and those acquired in the previous fiscal year. 7. Any other information believed useful to explain its programs. The report is to be reviewed and any necessary action taken by the City Council/ Agency Board no later than its first meeting occurring more than 21 days from receipt of the report. This should occur at the Agency Board's second meeting in January. Submitted By: Did Yrigo Director of development aks CITY COUNCIL ACTION: APPROVED DENIED RECEIVED F i / f . OTHER IS•ETI DATE._1�k ..._ AYES: WOES: tty1 e ABSENT : , ,he//ji ABSTAIN: NO0e. 'RIFIED BY: klOCIT�j Original on File wit l ' City Clerk's Offir Approval: cCarthy, ACM Carlos L. Orteg • Ann Rept 07-Staff Rept pment xecutive Director Ft le. BY RDA ON VERIFIED BY `-IrJ Original on file with City Clerk's Office