HomeMy WebLinkAboutRes 573RESOLUTION 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-rdafinplan10-11 x.
Resolution No. 573
PALM DESERT ESTIMATED REVENUES, Exhibit 1
CATEGORY/FUND
Proiect Area 1 Fund:
1. I nterest
2. 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
Budget Projected Budget
FY 08-09
FY 09-10 FY 09-10 FY 10-11
2,258,733
- 2,000,000 -
2,258,733
- 2,000,000 -
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 Authoritv 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
Housinq Fund:
1. Transfers In 18,235,619 16,621,213 16,621,213 16,423,669
Total Housinq 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
I
I 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
CAPITAL IMPROVEMENT PROGRAM
Exhibit 3
NO. 573
EXISTING PROJECTS IN FISCAL YEAR 2009-10 CONTINUED TO FY 2010-2011
PROJECT TITLE
RDA Proiect Area #1 Fund 850
Fire Station #33 Renovation
Portola Ave Improvements & sidewalk
Fred Waring & Monetery Ave. Turn Pockets
Alessandro Alleyway
Entrada del Paseo
Monterey Widening (CC to Ford)
Property Acquisition
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 Improve - Fred Waring to CC
Monterey/Country Club to G. Ford
DW - Perimeter Landscaping
Monterey @ 1-10
Aquatic Facility
NS Infrastructure (DW Well Sites)
DW - Lakeview Terrace Expansion
DW - Kitchen Expansion
DW - Overflow Parking
Police Academy (COD)
RDA Proiect Area #3 Fund 853
Portola @ 1-10
Cook Street Improvements
Police Academy (COD)
RDA Proiect Area #4 Fund 854
ESTIMATED ACCOUNT
PROJECT NUMBERS
TOTAL FOR
LIFE OF
PROJECT
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
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
500,000 851-4368-433.40-01
500,000 851-4363-433.40-01
170,000 851-4388-433.40-01
2,000,000 851-4389-433.40-01
6,000,000 851-4549-454.40-01
2,097,364 851-4619-433.40-01
1,190,570 851-4663-454.40-01
3,950,000 851-4663-454.40-01
2,169, 751 851-4663-454.40-01
500,000 851-4800-454.39-04
8,200,000 853-4351-433,40-01
3,000,000 853-4385-433.40-01
500,000 853-4800-454.39-04
Underground Neighborhood 13,380,000 854-4256-464,40-01
Casey's Restaurant Continuing 854-4495-499,40-10
Kansas Street Pocket Park 250,000 854-4625-454.40-01
Police Academy (COD) 500,000 854-4800-454,39-04
TOTAL EXISTING PROJECTS
NOTE: APPROPRIATIONS AND/OR ENCUMBRANCES FOR REBUDGET/CARRYOVER
FROM FISCAL YEAR 2009-10 TO 2010-11
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#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#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 FY2009-10 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.
FY 2009-10
to FY10-11
SEE NOTE
900,000
974,135
572,710
5,271,187
150,000
987,225
2,360,968
134,928
4,429,587
100,000
900,000
7,174,924
4,300,000
500,000
500,000
55,726
769,584
6,000,000
1,323,189
285,570
195,400
669,751
500,000
8,200,000
2,690,535
500,000
13,296,874
110,755
122,111
500,000
1 $64,475,159 1
AMOUNTS ARE SUBJECT TO CHANGE DUE TO PROJECTS APPROVED BY COUNCIL PRIOR TO JUNE 30, 2010
Note:Above amounts are as of March, 2010