HomeMy Public PortalAbout80-024 - LRA (10-07-80)RESOLUTION NO. LRA 80 -24
M
A RESOLUTION OF THE BOARD OF DIRECTORS
OF THE LYNWOOD REDEVELOPMENT AGENCY
ADOPTING THE ANNUAL OPERATING BUDGET FOR
THE FISCAL YEAR 1980 -81
WHEREAS, the Executive Director has submitted
a proposed annual_ooerating hudr_et for e- Liscal'r`eac
3i...
WHEREAS, the Board of Directors has studied the
proposed budget and approved same,
NOW, THEREFORE, the Board of Directors of the
Lynwood Redevelopment Agency does hereby resolve as follows:
The Annual Operating Budget for the Fiscal Year
1980 -81 is hereby approved and adopted; and
The Executive Director or his designee is hereby
authorized to approve any transfer between accounts as long as
said transfer does not extend the total appropriation of the
affected fund.
PASSED, APPROVED AND ADOPTED this 7th day
of OCTOBER , 1980.
Eugene R. Green, ChairlmSn
Lynwood Redevelopment Agency
ATTEST:
f_f y � S; C:^ arV
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LYNWOOD REDEVELOPMENT AGENCY
FY 1980 - 81 Operating Budget
REVENUES
PROJECT AREA A
Account No
Object
1 -4010
Tax Increment (Secured)
r -4011
Tax Increment (Unsecured)
1 -4012
Business Inventory Subvention
Subtotal
1 -4050
Interest (Tax Revenue Fund)
1 -4051
Interest (Special Fund)
1 -4060
Account No.
2 -4010
2 -4011
2 -4012
2 -4030
2 -4050
Rent
Total
19 79 -80 (Actual) 1980- 81 (Es timat
$ 43,233 $ 29,000
45,380 29,000
- 0 27,200
$ 88 $ 85
47,528 67,000
16,960 32,500
300 240
$153,401 $184,940
ALAMEDA PROJECT AREA
Object
Tax Increment (Secured)
Tax Increment (Unsecured)
Business Inventory Subvention
Loan Proceeds
Interest
Total
1979- 80 (Actual)
$ 0
12,500
0
0
0
$ 12,500
1980- 81 (Estimat
$ 0
0
150,000
110,000
10.700
$270,700
LYNWOOD REDEVELOPMENT AGENCY
FY 1980 -81 Operating Budget
Expenditures
PROJECT AREA A
Activity: Administration
1 -5011 Compensation of Board
(Payments made to Agency Board
Members to compensate for
attendance at meetings)
1 -5012 Administrative Overhead Charge
(Reimbursements - to City for staff
time and other work performed on
behalf of the LRA)
1 -5013 Office Supplies
(Consumable supplies used in LRA
activities)
1 -5014 Accounting and Auditing
(Required maintenance of LRA
fiscal records and annual audit)
1 -5015 Dues and Subscriptions
(Dues for professional organiza-
tions and subscriptions to pro-
fessional Journals)
1979 -80 (Actual)
$ 2,925
1,033
44
3,727
515
1 -5017 - Travel and Meetings -
(Local and out of town travel
and meeting expenses incurred while
on LRA business)
1 -5018 Miscellaneous
(Other administrative costs)
Subtotal
Activity: Legal Services
1 -5020 Legal Services
(Retainer and special
attorney fees)
150-
146
$ 8,540
$ 8,449
1980 -81 (Propost
$ 1,500
16,800
1,500
3,000
700
- 1,500
100
$25,100
$19,800
Activity: Planning, Survev and Design
1 -5031 Consultant Fees
(Contracts for surveys, studies,
and plans to effect redevelop-
ment)
19 79- 80 _(Actjal)
$ 0
1 -5032 Miscellaneous 0
(Various activities relating to
planning, survey, and design)
Activity: Real Estate Purchase
1 -5040 Real Estate Purchases 120,849
(Acquisition of real property
including land and improvements)
Activity: Acquisition Expense
1 -5051 Appraisal Costs
(Preparation of appraisals
required for the acquisition of
property)
Activity: Operation and Acquired Property
1 -5061 Repairs and Maintenance
(Upkeep of LRA owned property
including weed abatement
1 -5062 Utilities
(Utility charges for LRA owned
property)
Activity: Relocation Costs
1 -5071 Relocation Costs
(Contracts for relocation analysis
and planning)
Activity: Relocation Payments
1 -5080 Relocation Payments
(Benefits paid to residents or
businesses displaced by LRA
activities)
6,650
0
120
W
U
activity: Interest Expense
1 -5140 Interest Expense 131,555
(Interest on bonded indebtedness)
1990 -81 (Propo;
$ 44,500
1,000
467,000
2 6
2,000
150
2,000-
130,000
128,955
Activity: Principal Payments
1 -5150 Principal Payments
(Redemption of matured and
long -term bonds)
Activity: Fixed Assets Acquisition
1 -5160 Fixed Asset Acquisition
TOTAL EXPENDITURES
1979 -50 (Actual)
$ 30,000
0
$306,163
1980 -81 (Propose
$ 35,000
500
$856,005
LYNWOOD REDEVELOPMENT AGENCY
FY 1980 -81 Operating Budget
Expenditures
AL,AMEDA PROJECT AREA
Activity: Administration
2 -5011 Compensation of Board
(Payments made to Agency
Board Members to compensate
for attendance at meetings)
0
1979 -80 (Actual)
$ 0
2 -5012 'Administrative Overhead Charge
(Reimbursement to City for staff
time and other work performed on
behalf of the LRA)
2 -5013 Office Supplies
(Consumable supplies used in
LRA activities)
2 -5014 Accounting and Auditing
(Required maintenance of LRA
fiscal records and annual audit)
2 -5015 Dues and Subscriptions
(Dues for professional organi-
zations and subscriptions to
professional Journals)
2 -5017 Travel and Meetings
(Local and out -of -town travel
and meeting expenses incurred
while on LRA business)
2 -5013 Miscellaneous
(Other administrative costs)
Sub -total
Activity: Legal Services
2 -5020 Legal Services
(Retainer and special
attorney fees)
0
0
0
0
0
0
•
1980 -81 (Proposec
$ 1,500
1,200
250
1,000
0
0
50
$ 4,000
4,200
Activity:
Acquisition Exoense
2 -5051
Appraisal Costs
(Preparation of appraisals
required for the acquisition
of property)
Activitv:
Interest Expense
2 -5140
Interest Expense
Activity:
Principal Payments
2 -5150
Principal Payments
(Repayment of indebtedness)
TOTAL EXPENDITURES
1979 -80 (Actual)
$ 0
F
0
$ 0
1980 -81 (Propo:
$ 1,500
8,200
110,000
$127,900
STATE OF CALIFORNIA )
ss..
COUNTY OF LOS ANGELES )
I, the undersigned, Secretary of the Lynwood
Redevelopment Agency, do hereby certify that the above
and foregoing resolution was duly adopted by the said
Agency at a regular meeting thereof held
in the City Hall of the City of Lynwood on the 7th
day of OCTOBER 1980 , and passed by the
following vote:
AYES: Agency Members BYORK, MORRIS, ROWE, THOMPSO GREEN.
NOES: Agency Members NONE.
ABSENT: Agency Members NONE.
v
S Laurenevtoffi&
Lynwood redevelopment Agency