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HomeMy Public PortalAbout05 Graphic PresentationWHITEWATER PROJECT PASS-THRU HOUSING PROJECTS TAX INCREMENT City of .Rancho Mirage REDEVELOPMENT AGENCY TAX INCREMENT ( Q-/ WHITEWATER PROJECT # 1 PROJECTED ITEM FY 85/86 FY 86/87 FY 87/88 FY 88/89 TAX INCR. $ 2,849,950 $ 4,179,185 $ 4,550,194 $ 5,005,200 PASS THROUGH 283,878 963,816 1,130,446 1,500,476 HOUSING 524,391 768,970 837,226 920,957 NET TAX INCR. 2,041,681 2,446,399 2,582,522 21583,767 TOTAL $ 2,849,950 $ 4,179,185 $ 4,550,194 $ 5,005,200 Notes 1. FY 88-89 Increment projected to increase 10% 2. 65% RDA administrative cost attributable to Whitewater WWIREV -9- NORTHSIDE PROJECT PASS-THRU HOUSING PROJECTS TAX INCREMENT City of Rancho Mirage REDEVELOPMENT AGENCY TAX INCREMENT NORTHSIDE PROJECT # 2 PROJECTED ITEM FY 85/86 FY 86/87 FY 87/88 88/89 TAX INCR. PASSTHROUGH HOUSING NET TAX INCR. TOTAL $ 176,819 $ 902,906 -0- 191,016 35,364 241,710 141,455 470,180 176,819 $ 902,906 $ 1,289,847 317,303 257,969 715.575 $ 1,278,847 $ 1,380,136 339,513 276,027 764,596 $ 1,380,136 Notes 1. FY 88-89 Increment projected to increase 7% 2. 35% RDA Administrative Cost Attributable to Northside -11- RANCHO MIRAGE REDEVELOPMENT PROGRAM RANCHO M IKAGE REDEVELOPMENT AGENCY MAD 1 REDEVELOPMENT AGENCY BUDGET FOR FISCAL YEAR 1989-90 SUMMARY OF REVENUE PROJECT AREA # 1 - WHITEWATER PLAN Estimated ti t d *E Fund Balance 7//,$9 $ IS Iu3 0~2 s ma e T,MRTC~ Tax Increment FY 8 . 4,404,588 >RPLUS F~Estimated Interest FY 8890 L 14no9 ^ Estimated -FundgBala=e _ 6/30/90 21 0723-3 RVgILA(3~ , PROJECT AREA # 2 - 1984 PLAN (NORTHSIDE) Estimated Fund Balance 7/1/89 $ 3 lpO I lag ~~Gr**Estimated Sr I \ Tax Increment FY 89/90 1,181,3 8 t wS yEstimated Interest FY 89/90 133,~5 Estimated Funds-Ba+anee 6/30/90 kA ILA 6L-(f HOUSING AREA # 1 - WHITEWATER PLAN Estimated Fund Balance 7/1/89 $ 3.y70,-717 *Estimated Tax Increment FY 8 /90 1,101,147 Estimated Interest FY 8'1'/90 321 -763 Estimated Funds Ba+a7mce 6/30/90 g~j3S (p-] L(~ I L~ f3LC HOUSING FUND AREA # 2 - 1984 PLAN (NORTHSIDE) Estimated Fund Balance 7/1/89 $ ef&l,ZZL **Estimated Tax Increment FY 81/90 295,349 Estimated Interest FY 89/90 Estimated Fundy Rai ante 6/30/90 13~57~7 (4v AIL 6Li- Growth rate in assessed valuation projected at 10% Growth rate in assessed valuation projected at 7% oxya.o,yL~M~s•.vb•Ai*.m auPAV ac~uat.o•' ±IXGit;JwtS', -."'a. .M,. y. 4 N P•~5r5 '^y '-1 fR S f ! ti; i ~ iM 71 ~ ~ i lY ~ t q ~ ,7 li f t , N `.'~9. ~ t~~ is ~ ..°ia ~ , ;1 .}s.~! a.i~4 y r' (i r f' echo Mlivge ' ; , ~1 C alt , . p,V r tr`s: 3 - G a h ,a: ti r f >3 11 1 ICY '+i. a r AGENCY:;-;-' { a^ ,h BUDGET' FOR FISCAL YEAR ...f., . a•r + DISTRIBUTION OF.`TAX INCREMENT FUNDS WHITEWATER PLAN, 7 - PROJECT AREA #1 PROJECTED 88-89 LINE 1 SoS73S Tax Increment SfO ( •:3bZJ OL~U 35 OJ , , _ , 2'00 , s i °,,,;t.-:~• 1) Projects S 4r884 2'43 1_/yOq,SYo $Oi-L -_o=-bul2) Housing S-2.07-357 J101, LINE 2: 1987/88 Bond Issue Debt. zyyC,72v Service S0J-qq-ozoi -600, ` LINE 3 : • ' Administrative Expenses (65%) 5c.- ztd pal<- 1 63 LINE 4: Low-Moderate Housing, Fund (18.4;; )S0330D-07Q,3S07,. LINE 5: Remaining Funds 1,578,480 LINE 6: Pass Through Agreements: 1) Riverside County $ 1,-1-75-, 7e-2 g01- 4 D~-07- 0-7) • Ind 2) Mosquito Abate:' Dist. 32745-3 %01- H m - O7,6p- izu SC)$Z 3) CV Water District 240-x•5.41 70 ! - q rv - D 2-UD- 17- i~ 235$7y SUBTOTAL S--rg g 731 *LINE 7: Balance to Project Area%0-L-,~oV-ozU'0-3win * Project Balance is not available until June 30, 1989 due to 1.25 debt service coverage requirements. -2- •..i.Wr»W'WT+r;..~+w~+§sAtfiuexd-~.sikyM'Ha.HV'...Y,)n..Wryf;''.:,yi~~"~tiyp'a,- ry1R~:ur.Mr+~+ y 'a.J• C twtf 1 ,1 +k` J kiF t' y r t a't F aro E,T,:t'; Ba , ;E4kCity of Rancho Mirage y 4r t xtij i,i- ~ ( pp t 1 Y} 1L. 1,C x Tlf P`~rt ! ~ ~y, w, xa ~ C r t , ~ ➢ , i Y 1 1 l1 Y' + V{ s 6t y;4F>t~ } X iJ t ~ }tai _>t•4~ ~ 'G~.~n~+~ '~'F,~ ~j t". ,x 1 , fr"L~ f J4 4 fxn C~~ 1~"~'~~.YtFrN `''•fi " ~ '~r.:-e ~ 4' 11 N.. ~ ~c.y t1E )Y Sly 1 Pr ~ ~ 4'S xAry ~'Y'F ~ (t'sy l\ °r; }t'~d~ ~t hn`~ r ~ Y! ~ o. > rt' F 1 ,'1` AGENCY x F BUDGET FOR FISCAL YEAR 1988-89 'DISTRIBUTION+OF TAX INCREMENT FUNDS Rte, r: . f t ,-i 3.i1_ ,F { t• .rr--, \vt<4°". C ' 1984,.PLAN PROJECT, AREA #2 r. - 7111 PROJECTED 88-89 ' 0 ' 1.I 7(o , 7#3 LINE 1: Tax! Increment ozo 1) ;Projects 7b!;o9D-0zg1-IPZLI2) ; Housing.. -29'6~8,3J 29)r3ef~ LINE 2: 1987 Bond Issue Debt, Service S&S-yo-"I l~nl .8.9•3.r8,2 03-10 LINE 3: Administrative Expenses (35$)Sc c~uG -7-97,3 -99 -LINE 4: Low-Moderate Housin Fund 0$ g _ (2 `~D3 3Qa Owl 350 ~ 1x3 1 ; :e• , LINE 5:, Remaining Funds 630,890 LINE 6: Pass Through Agreements: 1) CV Community College:' $ 2) PS Unif.•Sch. Dist. 3) Riv. Cnty. Sch. Dist. SUBTOTAL 9~, 237 SOS 4rU-cn,oF IZ,I~ °i°~Q"ZFf . ' 195_,A.274sos ~w-o~l_1zF2. 2o~j,ID1 ~-~'-~i392o~i~ .50,7789 1.61 3co 3~, *LINE 7: Balance to Project Area `coy-3~ -ozol3vo~ $291,377 * Project balance is not available until June 30, 1989 due to 1.25 debt service coverage requirements. s':C -3-