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Home My WebLink AboutSR - FY 2005/06 Budgets/RES No. 515/Res. No. HA-28PALM DESERT REDEVELOPMENT AGENCY STAFF REPORT REQUEST: ADOPTION OF RESOLUTIONS OF THE REDEVELOPMENT AGENCY AND THE HOUSING AUTHORITY AMENDING THEIR FISCAL YEAR 2005-06 BUDGETS SUBMITTED BY: DAVE YRIGOYEN, DIRECTOR OF REDEVELOPMENT/HOUSING DATE: FEBRUARY 9, 2006 CONTENTS: AGENCY RESOLUTION NO. 515 HOUSING AUTHORITY RESOLUTION NO. HA-28 Recommendation: By Minute Motion: The Redevelopment Agency adopt Resolution No. 515 , amending the Fiscal Year 2005-06 budget as a result of Mid -Year Adjustments; and 2. That the Housing Authority adopt Resolution No. HA- 28 , amending the Fiscal Year 2005-06 budget as a result of Mid -Year Adjustments. Executive Summary: The adoption of these resolutions will adjust the budgets for the Redevelopment Agency and the Housing Authority to reflect the projected changes in revenues and expenditures of both entities. Discussion: Staff has completed a Mid -Year analysis of both the Redevelopment Agency and the Housing Authority budgets. We are proposing adjustments to both budgets to reflect changes in projected revenues and expenditures. The adjustments include higher than anticipated tax increment revenues, which will necessitate higher pass -through payments and housing set -aside transfers. Revenue: Staff proposes to increase the budgeted revenue to reflect increases in tax increment revenues to all four project areas. The records and receipt of the first payments of tax increment reflect a projected increase of tax increment revenue of $9,134,917 as follows: Project Area No. 1 $4,909,879 Project Area No. 2 1,144,931 Project Area No. 3 831,032 Project Area No. 4 2,249,075 GARDAWana Hunt1WPDATAIYRIGOYE"TFRPTS1020906MidYrBudgetAdlustment.doc Staff Report Adoption of Resolutions of the Redevelopment Agency/Housing Authority amending their Fiscal Year 2005-06 Budgets Page 2 of 5 February 9, 2006 Staff is also recommending changes to the project Housing Set -Aside transfers, net of SB 2557 adjustments of $1,919,502. Expenditures: Redevelopment: Staff is proposing to increase the expenditures for the Redevelopment Agency funds as follows: Prof -Temp Help $ 60,000 Prof -Other $ 45,000 Wallaroo Child Care Center $ 65,000 Casey's Restaurant $ 5,000 Printing/Duplicating (Economic Dev) $ 5,000 The increase to professional temporary help is to accommodate the cost of the interim Finance Manager. The increase to professional services is to appropriate previously approved Financial Consulting Services. The increases to both Wallaroo and Casey's budgets are to facilitate site improvements following the acquisition of these properties. Finally, the increase to printing/duplicating is to provide new brochures for the Redevelopment Agency. Debt Service Funds: Staff is proposing increases to the Debt Services Funds to reflect the higher pass -through payments, ERAF distribution, and Housing set -aside transfers. The following increases are recommended: Project Area No. 1 ERAF Payment (21,345) Pass -Through Payments 1,888,376 SB 2557 469,893 Housing Set -Aside Transfer 1,020,509 Project Area No. 2. ERAF Payment $ 82,572 Pass -Through Payment 394,776 SB 2557 166,884 Housing Set -Aside Transfer 291,844 Project Area No. 3 ERAF Payment $ 34,026 SB 2557 28,204 Housing Set -side Transfer 165,718 G:1RDA\MARIA HUNTIWPDATA\YRIGOYEMSTFRPTS%020906KNDYRBUDGETADJUSTMENT.DOC Staff Report Adoption of Resolutions of the Redevelopment Agency/Housing Authority amending their Fiscal Year 2005-06 Budgets Page 3 of 5 February 9, 2006 Project Area No. 4 ERAF Payment $ 12,655 Pass -Through Payment 1,178,781 SB 2557 118,954 Housing Set -Aside Transfer 441,431 Low and Moderate Housing Set -Aside: Staff is proposing to increase the expenditures for the Housing Capital funds as follows: Printing/Duplicating Acquisition/Rehab/Resale $ 2,500 $ 250,000 The increase to printing is intended for new Housing brochures. The increase to acquisition is proposed to accommodate the purchase of the property currently owned by the City on Goleta Avenue. Housina Authority: Staff is recommending the following increased appropriations to the Housing Authority properties as follows: Laguna Palms Payroll $ 570 Repairs and Maintenance 2,400 Other Services & Charges 175 California Villas Payroll $ 7,130 Contract Services 8,700 Repairs and Maintenance 29,170 Other Services & Charges 1,350 One Quail Place Payroll $ 3,450 Repairs and Maintenance 64,029 Other Services and Charges 300 Replacement Expenses 118,400 Las Serenas Payroll $ 822 Utility Services 4,000 Repairs and Maintenance 8,350 Other Services & Charges 900 Replacement Expenses 53,500 GARDAWARIA HUNTIWPDATAIYRIGOYENISTFRPTM02"06MIDYROUDGETADJUSTMENT.DOC Staff Report Adoption of Resolutions of the Redevelopment Agency/Housing Authority amending their Fiscal Year 2005-06 Budgets Page 4 of 5 February 9, 2006 Catalina Gardens Payroll $ 444 Repairs and Maintenance 1,400 Other Services & Charges 4,250 Replacement Expenses 38,446 Desert Pointe Payroll $ 588 Contract Services 11,850 Repairs and Maintenance 7,695 Other Services & Charges 16,280 Replacement Expenses 48,000 Neighbors Payroll $ 138 Repairs and Maintenance 6,350 Other Services & Charges 4,700 Pueblos Payroll $ 108 Repairs and Maintenance 1,030 Other Services & Charges 1,350 Replacement Expenses 7,354 Taos Palms Payroll $ 114 Repairs and Maintenance 1,050 Other Services & Charges 5,005 Replacement Expenses 5,000 Country Village Payroll $ 444 Other Services & Charges 4,000 The total increase to the Housing Authority budget is $468,842 of which $270,700 is for capital improvements. The majority of the capital improvements are for roof repairs at One Quail. There are minor modifications needed to the parking lots and sidewalks to Las Serenas to conform to ADA standards for the residents. The rest of the increases are for contractual services, repairs and maintenance, other services, and payroll for the properties. The largest of these is an increase to One Quail Place for tree trimming and parking lot striping. The Housing Commission reviewed the above recommendations on January 11, 2006, and has recommended that the Housing Authority approve the increased budget appropriations. G:MDAIMARIA HUNT\NfPDATAIYRIGOYENISTFRPTS1020906MIDYRSUDGETADJUSTMENT.DOC Staff Report Adoption of Resolutions of the Redevelopment Agency/Housing Authority amending their Fiscal Year 2005-06 Budgets Page 5 of 5 February 9, 2006 Attached are the resolutions and exhibits for the Redevelopment Agency and Housing Authority, which amend their respective budgets. Submitted by: r Dave Yrigoy� Director of Zevelopment/Housing Approval: Carlos L. Orte , Executive Director Approval: Paul S. Gibson, Director of Finance G:IRDAWARIA HUNTIWPDATAIYRIGOYEMSTFRPTSW20906MIDYRSUDGETADJUSTMENT.DOC RESOLUTION NO. 515 A RESOLUTION OF THE PALM DESERT REDEVELOPMENT AGENCY, PALM DESERT, CALIFORNIA, AMENDING THE FISCAL YEAR 2005-06 BUDGET AS A RESULT OF MID -YEAR ADJUSTMENTS WHEREAS, as a result of Mid -Year review of the budget, it is desirable to revise the 2005-06 Budget; NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency, Palm Desert, California, that the 2005-06 Budget is hereby revised as follows: 1. The amount shown in the column entitled "Revised Appropriations" in the table entitled "Palm Desert Redevelopment Agency, Mid -Year 2005-06 Budget Review, Revised Appropriations Operating Budget', attached hereto as Exhibit "A", are hereby appropriated to the departments, activities, and projects identified therein as the Operating Budget for 2005- 06. 2. The amounts shown in the column entitled "Revised Estimated Revenues" in the tab entitled "Redevelopment Agency, Mid -Year 2005-06 Budget Review, Revised Estimated Revenues", attached hereto as Exhibit "B", are hereby accepted as the Estimated Revenues for the 2005-06 Fiscal Year for each fund and revenue source. PASSED, APPROVED AND ADOPTED, at the regular meeting of the Palm Desert Redevelopment Agency held on this day of 2006, by the following vote to wit: AYES: NOES: ABSENT: ABSTAIN: ATTEST: Rachelle D. Klassen, Secretary Jim Ferguson, Chairman GARDAWeronica Tapia\Word RlesNStaH Reports12005-06 RDA Midyear Budget Resoluuon.doc Resolution No. 51 5 Exhibit "A" PALM DESERT REDEVELOPMENT AGENCY MID -YEAR 2005-2006 BUDGET REVIEW REVISED APPROPRIATIONS OPERATING BUDGET CHANGE KhVIStU FUND/DEPARTMENT INC/(DEC) APPROPRIATIONS (Approved by Agency Board 9/8/05 - Offset by Reduction in Salaries) Prof -Temp Help $ 60,000 Desert Hot Springs Assistance Unappropriated Financial Consultant Services Prof -Other $ 45,000 (Approved by Agency Board 7/14/05) Site Improvements Wallaroo Child Care Center $ 65,000 (Approved by Agency Board 7114/05) Pass-Throuqh Payments $ 1,888,376 Increase in Tax Increment SB 2557 $ 469.893 Omitted from 05106 Budget Housing Set -Aside Transfer $ 1,020,509 Increase in Tax Increment Pass -Through Payments $ 394,776 Increase in Tax Increment SB 2557 $ 166,884 Omitted from 05106 Budget Housing Set -Aside Transfer $ 291,844 Increase in Tax Increment t=rat Payment $ 34,026 Increase in ERAF share SB 2557 $ 28,204 Omitted from 05/06 Budget Housing Set -Aside Transfer $ 165,718 Increase in Tax Increment Eraf Payment $ 12,655 Increase in ERAF share Pass -Through Payments $ 1,178,781 Increase in Tax Increment SB 2557 $ 118,954 Omitted from 05/06 Budget Housing Set -Aside Transfer $ 441,431 Increase in Tax Increment Acquisition/Rehab/Resales $ 250,000 Acquisition of Goleta Home Total $ 6,705,778 $ 48,705,300 Resolution No. 515 Exhibit "B" PALM DESERT REDEVELOPMENT AGENCY MID -YEAR 2005-2006 BUDGET REVIEW REVISED ESTIMATED REVENUES CHANGE REVISED FUND/DEPARTMENT INC/(DEC) PROJECTIONS Tax Increment $ 4,909,879 Increase in Tax Increment Tax Increment $ 1,144,931 Increase in Tax Increment Tax Increment $ 831,032 Increase in Tax Increment Tax Increment $ 2,249,075 Increase in Tax Increment Totals $ 9,134,917 $ 70,900,064 Transfer in PA No. 1 $ 1,020,509 Increase in Tax Increment Transfer in PA No. 2 $ 291,844 Increase in Tax Increment Transfer in PA No. 3 $ 165,718 Increase in Tax Increment Transfer in PA No. 4 $ 441,431 Increase in Tax Increment Totals $ 1,919,502 $ 14,305,032 RESOLUTION NO. HA-28 A RESOLUTION OF THE PALM DESERT HOUSING AUTHORITY, PALM DESERT, CALIFORNIA, AMENDING THE FISCAL YEAR 2005- 06 BUDGET AS A RESULT OF MID -YEAR ADJUSTMENTS WHEREAS, as a result of Mid -Year review of the budget, it is desirable to revise the 2005-06 Budget; NOW, THEREFORE, BE IT RESOLVED by the Housing Authority, Palm Desert, California, that the 2005-06 Budget is hereby revised as follows: The amount shown in the column entitled "Revised Appropriations" in the table entitled "Palm Desert Redevelopment Agency, Mid -Year 2005-06 Budget Review, Revised Appropriations Operating Budget', attached hereto as Exhibit "A", are hereby appropriated to the departments, activities, and projects identified therein as the Operating Budget for 2005- 06. PASSED, APPROVED AND ADOPTED, at the regular meeting of the Palm Desert Housing Authority held on this day of 2006, by the following vote to wit: AYES: NOES: ABSENT: ABSTAIN: ATTEST: Rachelle D. Klassen, Secretary Jim Ferguson, Chairman FUND/DEPARTMENT Repairs & Maintenance Other Services & Charges Replacement Expenses PALM DESERT HOUSING AUTHORITY MID -YEAR 2005-2006 BUDGET REVIEW REVISED APPROPRIATIONS OPERATING BUDGET CHANGE REVISED INC/(DEC) APPROPRIATIONS 3.450 64,029 300 118,400 Resolution No. HA-28 Exhibit "A" REASON FOR CHANGE Tree trimming, parking lot stripping Dues increase for onesite Roof repairs, wall landscape, upgrades, carport beams Payroll $ 822 Payroll overhead increased from 39.6% to 41 % Utility Services $ 4.000 Utility increase-3 heated pools Repairs & Maintenance $ 8,350 Tree trimming, parking lot stripping Other Services & Charges $ 900 Dues increase for onesite, temp labor for renovations Replacement of pool & spa heaters, roof repair, ADA ramps & Replacement Expenses $ 53,500 sidewalks Pavroll $ 444 Payroll overhead increased from 39.6% to 41% Repairs & Maintenance $ 1,400 Tree trimming, Parking lot stripping Other Services & Charges $ 4.250 Dues increase for onesite, temp labor for renovations Replacement Expenses $ 38,446 Buillding & Apt addresses, community room furniture Payroll $ 588 Payroll overhead increased from 39.6% to 41% Contract Services $ 11,850 Increase of courtesy oatrol 3 days to 7 days a week Repairs & Maintenance $ 7,695 Tree trimming, Parking lot stripping Other Services & Charges $ 16,280 Dues increase for onesite, temp labor for renovations 28. 34,55 Replacement Expenses $ 48.000 Roof drains, interior upgrade 1i34 & 55, electrical, hedge removal & office Payroll $ 138 Payroll overhead increased from 39.6% to 41% Repairs & Maintenance $ 6,350 Tree trimming, parking lot stripping Other Services & Charges $ 4,700 Dues increase for onesite, temp labor for renovations Payroll $ 108 Payroll overhead increased from 39.5% to 41% Repairs & Maintenance $ 1,030 Tree trimming, parking lot stripping Other Services & Charges $ 1.350 Dues increase for onesite, temp labor for renovations Replacement Expenses $ 7,354 Community Room Furniture Other Services & Charges $ 4,000 Onesite Set up fee/office supply -computer Payroll $ 114 Payroll overhead increased from 39.6% to 41% Repairs & Maintenance $ 1,050 Tree trimming, parking lot stripping Other Services & Charges $ 5,005 Dues increase for onesite, temp labor for renovations Replacement Expenses $ 6.000 Utility doors Payroll $ 7,130 Payroll overhead increased from 39.6% to 41% + temp Contract Services $ 8,700 Additional courtesy patrol Repairs & Maintenance $ 29.170 Tree trimming, parking lot strip Other Services & Charges $ 1,350 Dues increase for onesite/office supply Payroll $ 570 Payroll overhead increased from 39.6% to 41 % Repairs & Maintenance $ 2,400 Tree trimming Other Services & Charges $ 175 Dues increase for onesite $ 468,842 $ 6,637,623 Housing AuthorityMidyear Adjustments Exhibits A & B 2006-2006 CITY OF PALM DESERT MID -YEAR 2005-2006 BUDGET REVIEW REVISED APPROPRIATIONS OPERATING BUDGET CHANGE KEVISEU FUNDIDEPARTMENT INC/(DEC) APPROPRIATIONS Total S 442,500 $ 942,500.00