HomeMy WebLinkAboutRes 573 RESOLUTION NO. 573
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, 2010 THROUGH JUNE 30, 2011
WHEREAS, the Board has received and considered the proposed Program and Financial Plan
submitted by the Executive Director on June 24, 2010; 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 2010-2011 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 2010-2011 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 2009-2010 Fiscal Year.
The amounts included in this exhibit include all unexpended amounts from purchase orders and
contracts encumbered by June 30, 2010.
PASSED, APPROVED AND ADOPTED at the regular meeting of the Palm Desert
Redevelopment Agency held on this 24 day of June, 2010, by the following vote, to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
CINDY FINERTY, MAYOR
ATTEST:
RACHELLE KLASSEN, CITY CLERK
CITY OF PALM DESERT, CALIFORNIA
res-rdafinplanl0-11
Resolution No. 573
PALM DESERT ESTIMATED REVENUES, Exhibit 1
Actual Budget Projected Budget
CATEGORY/ FUND FY 08-09 FY 09-10 FY 09-10 FY 10-11
Project Area 1 Fund:
1. Interest - - -
2. Transfers In 2,258,733 - 2,000,000 -
Total Project Area 1 Fund 2,258,733 - 2,000,000 -
Project Area 2 Fund:
1. Reimbursements - - -
2. Interest - - -
Total Project Area 2 Fund - - -
Project Area 3 Fund:
1. Interest - - -
2. Transfers In - - -
Total Project Area 3 Fund - - -
Project Area 4 Fund:
1. Interest - - -
2. Transfers In - - -
Total Project Area 4 Fund - - -
Page 1-21
Resolution No. 573
PALM DESERT ESTIMATED REVENUES, Exhibit 1
Actual Budget Projected Budget
CATEGORY/ FUND FY 08-09 FY 09-10 FY 09-10 FY 10-11
Financing Authority RDA:
1. Transfer In 6,216,128 34,145,777 33,862,994 33,862,994
3. Interest
Total Debt Service 1 Fund 6,216,128 34,145,777 33,862,994 33,862,994
Debt Service 1 Fund:
1. Tax Increment 52,192,365 48,232,687 50,704,963 48,301,598
Total Debt Service 1 Fund 52,192,365 48,232,687 50,704,963 48,301,598
Debt Service 2 Fund:
1. Tax Increment 19,493,421 18,152,420 18,074,480 17,217,849
Total Debt Service 2 Fund 19,493,421 18,152,420 18,074,480 17,217,849
Debt Service 3 Fund:
1. Tax Increment 4,697,664 4,147,762 4,657,556 4,437,017
2. Interest _
Total Debt Service 3 Fund 4,697,664 4,147,762 4,657,556 4,437,017
Debt Service 4 Fund:
1. Tax Increment 13,753,607 12,573,199 13,003,361 12,386,878
2. Interest _ _ -
Total Debt Service 4 Fund 13,753,607 12,573,199 13,003,361 12,386,878
Housing Fund:
1. Transfers In 18,235,619 16,621,213 16,621,213 16,423,669
Total Housing Fund 18,235,619 16,621,213 16,621,213 16,423,669
Page 1-22
Exhibit 2 - RES .573
PALM DESERT REDEVELOPMENT AGENCY APPROPRIATIONS
FOR FISCAL YEAR 2010-2011
FUND NAME APPROPRIATIONS
FY 2010-2011
REDEVELOPMENT AGENCY FUNDS
Project Area #1 3,828,640
Project Area #2 10,804,100
Project Area #3 146,500
Project Area #4 350,500
Debt Service PJ Area #1 44,357,216
Debt Service PJ Area #2 16,710,237
Debt Service PJ Area #3 3,649,567
Debt Service PJ Area #4 11,751,013
Housing Set Aside - 14,575,235
Total Redevelopment Agency Funds 106,173,008
REDEVELOPMENT AGENCY Exhibit 3
CAPITAL IMPROVEMENT PROGRAM NO. 573
I EXISTING PROJECTS IN FISCAL YEAR 2009-10 CONTINUED TO FY 2010-2011 I
PROJECT TITLE ESTIMATED ACCOUNT FUNDING FY 2009-10
PROJECT NUMBERS SOURCES to FY10-11
TOTAL FOR
•SEE NOTE
LIFE OF
PROJECT
RDA Project Area#1 Fund 850
Fire Station#33 Renovation 900,000 850-4220-464.40-01 RDA PJ Area#1
Portola Ave Improvements&sidewalk 900,000
974,135 850-4438-433.40-01 RDA PJ Area#1 974,135
Fred Waring&Monetery Ave.Turn Pockets 572,710 850-4383-433.40-01 RDA PJ Area#1
Alessandro Alleyway 27 , 7
5,681,708 850-4341-433.40-01 RDA PJ Area#1 5,271,18187
Entrada del Paseo Continuing 850-4358-433.40-01 RDA PJ Area#1
,000
Monterey Widening(CC to Ford) 1,000,000 850-4363-433.40-01 RDA PJ Area#1 9877,225
Property Acquisition Continuing 850-4495-464.40-01 RDA PJ Area#1
Portola Properties/Adobe Villas 220,000 2, 34,928
850-4627-466.40-01 RDA PJ Area#1 134,928
El Paseo Revitalization 5,000,000 850-4679-464.40-01 RDA PJ Area#1 4,429,587
Police Academy(COD) 500,000 850-4800-454.39-04 RDA PJ Area#1
100,000
RDA Project Area#2 Fund 851
Fire Station#71 Renovation 900,000 851-4220-464.40-01 RDA PJ Area#2
NS Fire Station 900,000
7,174,924 851-4270-422.40-01 RDA PJ Area#2 7,174,924
Portola @ 1-10 4,300,000 851-4351-433.40-01 RDA PJ Area#2 4,300,000
Monterey Improve- Fred Waring to CC 500,000 851-4368-433.40-01 RDA PJ Area#2 500,000
Monterey/Country Club to G. Ford 500,000 851-4363-433.40-01 RDA PJ Area#2 500,000
DW-Perimeter Landscaping 170,000 851-4388-433.40-01 RDA PJ Area#2
Monterey @ 1-10 55,726
2,000,000 851-4389-433.40-01 RDA PJ Area#2 769,584
Aquatic Facility 6,000,000 851-4549-454.40-01 RDA PJ Area#2
NS Infrastructure(DW Well Sites) ,323, 89
2,097,364 851-4619-433.40-01 RDA PJ Area#21,323,189
DW- Lakeview Terrace Expansion 1,190,570 851-4663-454.40-01 RDA PJ Area#2
DW- Kitchen Expansion 3,950,00095,400
851-4663-454.40-01 RDA PJ Area#2 195,400
DW-Overflow Parking 2,169,751 851-4663-454.40-01 RDA PJ Area#2 669,751
Police Academy(COD) 500,000 851-4800-454.39-04 RDA PJ Area#2 500,000
RDA Project Area#3 Fund 853
Portola 0 1-10 8,200,000 853-4351-433.40-01 RDA PJ Area#3 8,200,000
Cook Street Improvements 3,000,000 853-4385-433.40-01 RDA PJ Area#3 2,690,535
Police Academy(COD) 500,000 853-4800-454.39-04 RDA PJ Area#3 500,000
RDA Project Area#4 Fund 854
Underground Neighborhood 13,380,000 854-4256-464.40-01 RDA PJ Area#4 13,296,874
Casey's Restaurant Continuing 854-4495-499.40-10 RDA PJ Area#4
Kansas Street Pocket Park 1 ,
250,000 854-4625-454.40-01 RDA PJ Area#4 1222,111111
Police Academy(COD) 500,000 854-4800-454.39-04 RDA PJ Area#4 500,000
TOTAL EXISTING PROJECTS
$64,475,159I
* NOTE: APPROPRIATIONS AND/OR ENCUMBRANCES FOR REBUDGET/CARRYOVER
FROM FISCAL YEAR 2009-10 TO 2010-11
Continuing appropriations are amounts which have been appropriated in FY 2009-10 and are not expected to be expended by
June 30,2010. 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 30,2010 for appropriations approved by the Agency through the last meeting in
June,2010.
AMOUNTS ARE SUBJECT TO CHANGE DUE TO PROJECTS APPROVED BY COUNCIL PRIOR TO JUNE 30,2010
Note:Above amounts are as of March,2010