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HomeMy WebLinkAboutRes. No. 560 - Redevelopment AgencyRESOLUTION NO. 56g 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, 2009 THROUGH JUNE 30, 2010 WHEREAS, the Board has received and considered the proposed Program and Financial Plan submitted by the Executive Director on June 25, 2009; 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 2009-2010 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 2009-2010 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 2008-2009 Fiscal Year. The amounts included in this exhibit include all unexpended amounts from purchase orders and contracts encumbered by June 30, 2009. PASSED, APPROVED AND ADOPTED at the regular meeting of the Palm Desert Redevelopment Agency held on this 25 day of June, 2009, by the following vote, to wit: AYES: NOES: ABSENT: ABSTAIN: ROBERT SPIEGEL, MAYOR ATTEST: RACHELLE KLASSEN, CITY CLERK CITY OF PALM DESERT, CALIFORNIA res-rdafinp1an09-10 w PALM DESERT ESTIMATED REVENUES, Exhibit 1 Resolution No. 560 CATEGORY / FUND Project Area 1 Fund: 1. Reimbursements 2. Interest 3. Transfers In Total Proiect 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 Proiect Area 4 Fund: 1. Interest 2. Transfers In Total Proiect Area 4 Fund Actual Actual Budget Projected Budget FY 06-07 FY 07-08 FY 08-09 FY 08-09 FY 09-10 55,000 55,000 2,394,758 2,394,758 50,382,639 50,382,639 52,832,397 52,832,397 52,952,980 2,558,740 55,511,720 991,271 13,923,580 14,914,851 1,409, 732 18,240,063 19,649,795 52,952,980 2,558,740 55,511,720 991,271 13, 923, 580 14,914,851 1,409, 732 18, 240, 063 19, 649, 795 Page 1-34 PALM DESERT ESTIMATED REVENUES, Exhibit 1 Resolution No. 560 CATEGORY / FUND Financing Authority RDA: 1. Transfer In 2. Bond Issued/Premiums 3. Interest Total Debt Service 1 Fund 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 Housing Fund: 1. Transfers In 2. Reimbursements 3. Interest Total Housing Fund Actual Actual Budget Projected Budget FY 06-07 FY 07-08 FY 08-09 FY 08-09 FY 09-10 22,683,605 292,155,269 911,476 315, 750, 350 48, 895, 277 2,223,024 506,990 51,625,291 31,338,594 523,406 31,862,000 36,192,151 108,000 36, 300,151 34,145, 777 34,145, 777 52,304,574 49,641,800 51,699,719 48,232,687 2,079,371 468,379 54,852,324 49,641,800 51,699,719 48,232,687 17,072,105 18, 819, 502 17,963, 630 19, 354,131 18,152,420 472,204 418,899 17, 544,309 19,238,401 17, 963, 630 19, 354,131 18,152,420 3,563,031 4,352,724 3,973,983 4,677,965 4,147,762 155,454 161,559 3,718,485 4,514,283 3,973,983 4,677,965 4,147,762 13, 336, 924 14,450, 888 13,665, 890 13, 643, 526 12, 573,199 156,357 212,866 13,493,281 14,663,754 13,665,890 13,643, 526 12, 573,199 70,285,006 181,896 1,701,614 72,168, 516 33, 436, 935 17, 049, 061 17,666,860 16, 621, 213 219,988 2,659,448 - 36,316,371 17,049,061 17,666,860 16,621,213 Page 1-35 FUND NAME 1REDEVELOPMENTAGENCY 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 2009-2010 4,932,195 848,500 153,000 352,000 44, 458, 222 18, 388, 096 3,905,304 11,780,504 18, 746, 224 103,564,045 REDEVELOPMENT AGENCY CAPITAL IMPROVEMENT PROGRAM EXISTING PROJECTS IN FISCAL YEAR 2008-09 CONTINUED TO FY 2009-2010 PROJECT TITLE Trust Fund Homme/Adams Park RDA Proiect Area #1 Fund 850 Fire Station #33 Renovation Alessandro Alleyway Entrada del Paseo Monterey Widening (CC to Ford) Property Acquisition RDA Projects (Portola Properties/Adobe Villas) El Paseo Revitalization Police Academy (COD) RDA Proiect Area #2 Fund 851 Fire Station #71 Renovation NS Fire Station Portola @ 1-10 Monterey/Country Club to G. Ford Monterey @ 1-10 Aquatic Facility NS Infrastructure (DW Well Sites) Section 4 - Desert Willow Renovation (Greens) Police Academy (COD) RDA Proiect Area #3 Fund 853 Portola @ 1-10 Cook Street Improvements Falcon/Hovley Perimeter Landscaping Police Academy (COD) RDA Protect Area #4 Fund 854 Underground Neighborhood Casey's Restaurant Police Academy (COD) TOTAL EXISTING PROJECTS ESTIMATED PROJECT TOTAL FOR LIFE OF PROJECT ACCOUNT NUMBERS 600,000 880-0000-239.91-00 900,000 850-4220-464.40-01 7,384,212 850-4341-433.40-01 Continuing 850-4358-433.40-01 1,000,000 850-4363-433.40-01 Continuing 850-4495-464.40-01 220,000 850-4627-466.40-01 5,000,000 850-4679-464.40-01 500,000 850-4800-454.39-04 900,000 851-4220-464.40-01 7,174, 924 851-4270-422.40-01 4,300,000 851-4351-433.40-01 1,000,000 851-4363-433.40-01 2,000,000 851-4389-433.40-01 6,000,000 851-4549-454.40-01 2,097,364 851-4619-433.40-01 Continuing 851-4663-454.40-01 500,000 851-4800-454.39-04 8,200,000 853-4351-433.40-01 3,000,000 853-4385-433.40-01 250,000 853-4388-433.40-01 500,000 853-4800-454.39-04 13,380,000 854-4256-464.40-01 Continuing 854-4495-499.40-10 500,000 854-4800-454.39-04 NOTE: APPROPRIATIONS AND/OR ENCUMBRANCES FOR REBUDGET/CARRYOVER FROM FISCAL YEAR 2008-09 TO 2009-10 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#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#3 RDA PJ Area#4 RDA PJ Area#4 RDA PJ Area#4 Continuing appropriations are amounts which have been appropriated in FY 2008-09 and are not expected to be expended by June 30, 2009. 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, 2009 for appropriations approved by the Agency through the last meeting in June, 2009. AMOUNTS ARE SUBJECT TO CHANGE DUE TO PROJECTS APPROVED BY COUNCIL PRIOR TO JUNE 30, 2009 Note:Above amounts are as of March 23, 2009 Exhibit 3 NO. 1 FY 2008-09 to FY09-10 * SEE NOTE 276,518 900,000 5,351,155 907,848 1,000,000 883,312 203,990 4,430,210 500,000 900,000 7,174,924 4,300,000 1,000,000 1,180, 578 6,000,000 1,323,189 759,006 500,000 8,200,000 2,709,171 250,000 500,000 13,380,000 119,119 500,000 $63,249,020 I