HomeMy Public PortalAbout03 Distribution of Tax Increment FundsCity of Rancho Mirage
Q/REDEVELOPMENT AGENCY
Qp~ BUDGET FOR FISCAL YEAR 1988-89
DISTRIBUTION OF TAX INCREMENT FUNDS
WHITEWATER PLAN - PROJECT AREA #1
PROJECTED 88-89
LINE
1
Tax Increment gOI - 3M -OL4'U-35 01 $ 5,005,200
1) Projects
$ 4,084,243
~0~-H6b~-j
bu12) Housing
920,957
LINE
2:
1987/88 Bond Issue Debt
Service SOI-g .6zoi-6ooi 2,358,300
LINE
3:
Administrative Expenses
(65%)5<,_a0" f)oz(_ 147,463
LINE
4:
Low-Moderate Housing Fun
d (18.4%)Sp33,-,D-J7(3~j0)920,957 f3 9~
LINE
5:
Remaining Funds
1,578,480
LINE
6:
Pass Through Agreements:
1) Riverside County
$ 1,177,782801-9 5b-oZOb-rLI-5
2) Mosquito Abate. Dist
. 32,153 %01 Nr0-pZ3D izij
3) CV Water District
46D o2pp-i21~
290,541e01
SUBTOTAL
$ 1,500,476
*LINE
7:
Balance to Project Area~CL-30v-oz 7b. 1_78,004
* Project Balance is not available until June 30, 1989 due to 1.25
debt service coverage requirements.
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City of Rancho Mirage
~,`\4c1
/ REDEVELOPMENT AGENCY
lu/ BUDGET FOR FISCAL YEAR 1988-89
DISTRIBUTION OF TAX INCREMENT FUNDS
1984 PLAN - PROJECT AREA #2
PROJECTED 88-89
LINE 1: Tax Increment X05 'j6a O"LDI-';Sb1 $ 1,380,136
1) Projects $ 1,104,109
4 I-OZ01-42LI 2) Housing 276,027
LINE 2: 1987 Bond Issue Debt ServiceS65yP)-oZO1-IW1 393,820
LINE 3: Administrative Expenses (35%)Sz 79,399
LINE 4: Low-Moderate Housing Fund (2O%)8J3.3,yv-,,zoI35o1276,O27
LINE 5: Remaining Funds 630,890
LINE 6: Pass Through Agreements:
1) CV Community College $ 93, 297S(JS-ySb-02,01-ILIb
2) PS Unif. Sch. Dist. 195,427%o~ 4sa-oZol-ZZ
3) Riv. Cnty. Sch. Dist. 50,789 X605 i-Lo,6
SUBTOTAL $339,513
*LINE 7: Balance to Project Area spy-3oa.OZO 3m07 $291,377
* Project balance is not available until June 30, 1989 due to
1.25 debt service coverage requirements.
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