HomeMy Public PortalAbout05 MiscellaneousSECTION IV
000
MISCELLANEOUS
RANCHO MIRAGE REDEVELOPMENT AGENCY
WHITEWATER PROJECT AREA #1
TAX INCREMENT REVENUE
PASS-THROUGH ® OTHER EXPENDITURES
® HOUSING
DOLLARS
$4,000,000
$3,000,000
$2,000,000
$1,000,000
$0
V
FY 89/90 FY 90/91 FY 91/92 FY 92/93
$5,737,450 $7,376,578 $7,880,000 $8,470,000
RANCHO MIRAGE REDEVELOPMENT AGENCY
8
WHITEWATER PROJECT AREA #1
TAX INCREMENT
PROJECTED
ITEM
FY 89/90 FY 90/91 FY 91/92
FY 92193
Tax Increment
$5,737,450 $7,376,578 $7,880,000
$8,470,000
Pass Through
2,085,253 2,615,424 3,197,000
3,565,100
Housing
730,439 1,473,463 1,576,000
1,694,000
Net Tax Increment $2,921,758 $3,287,691 $3,107,000
$3,210,900
RANCHO MIRAGE REDEVELOPMENT AGENCY
WHITEWATER PROJECT AREA #1
FY 1992/93 DEBT SERVICE
1987 TAX ALLOCATION BONDS:
PRINCIPAL $365,000
INTEREST 930,438
TOTAL
1988 TAX ALLOCATION PARITY BONDS:
PRINCIPAL $130,000
INTEREST 538,300
TOTAL
1989 SUBORDINATE LIEN TAX ALLOCATION BONDS:
PRINCIPAL $235,000
INTEREST 307,970
TOTAL
1991 JPFA LOAN:
$1,295,438
668,300
542,970
PRINCIPAL $0
INTEREST 259,100
TOTAL $259,100
91
TOTAL FY 1992193 WHITEWATER DEBT SERVICE $2,765,808
RANCHO MIRAGE REDEVELOPMENT AGENCY
NORTHSIDE PROJECT AREA #2
TAX INCREMENT REVENUE
PASS-THROUGH ® OTHER EXPENDITURES
® HOUSING
DOLLARS
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
O
FY 89/90 FY 90/91 FY 91/92 FY 92/93
$1,665,856 $2,593,025 $3,424,000 $3,680,800
RANCHO MIRAGE REDEVELOPMENT AGENCY
11
NORTHSIDE PROJECT AREA #2
TAX INCREMENT
PROJECTED
ITEM
FY 89/90 FY 90/91 FY 91/92
FY 92/93
Tax Increment
$1,665,856 $2,593,025 $3,424,000
$3,680,800
Pass Through
431,007 550,317 917,000
984,000
Housing
264,210 517,954 684,800
736,000
Net Tax Increment $970,639 $1,524,754 $1,822,200
$1,960,800
RANCHO MIRAGE REDEVELOPMENT AGENCY 12
NORTHSIDE PROJECT AREA #2
FY 1992/93 DEBT SERVICE
TAX ALLOCATION BONDS, SERIES 1990:
PRINCIPAL $135,000
INTEREST 483,308
TOTAL $618,308
1991 JPFA LOAN:
PRINCIPAL $0
INTEREST 850,890
TOTAL $850,890
TOTAL FY 1992/93 NORTHSIDE DEBT SERVICE $1,469,198
13
RESOLUTION NO. 92-RA-92
A RESOLUTION OF THE RANCHO MIRAGE REDEVELOPMENT AGENCY ADOPTING A
SCHEDULE OF CITY STAFF TIME ALLOCATION AND PROVISIONS FOR
REIMBURSEMENT TO THE REDEVELOPMENT AGENCY FOR FISCAL YEAR 1992/93.
WHEREAS, the Redevelopment Agency agrees to the reimbursement
for services performed by the city for the agency; and
WHEREAS, said reimbursement requires a schedule of activity
and reimbursement provisions;
NOW, THEREFORE, BE IT RESOLVED that the following schedule and
reimbursement provisions be adopted:
RDA Coordinator . . . . 100% 46,542 x 1.375x 1.0 =$63,995
City Mgr./Executive Director 40% 100,872 x 1.375x .4 = 55,479
Assistant City Manager . . . 50% 86,280 x 1.375x .5 = 59,318
Public Works Director . . . . 60% 76,979 x 1.375x .6 = 63,508
Finance Director . . . . . . 40% 64,698 x 1.375x .4 = 35,584
Accounting Manager . . . . . 40% 45,408 x 1.375x .4 = 24,974
City Attorney . . . . . . . . 30% 102,996 x 1.375x .3 = 42,486
City Clerk . . . . . 30% 47,676 x 1.375x .3 = 19,666
Dep. City Clk./Admin. Sec./PIO 30% 43,236 x 1.375x .3 = 17,835
Community Dev. Director . . . 30% 75,564 x 1.375x .3 = 31,170
Senior Civil Engineer . . . . 50% 63,900 x 1.375x .5 = 43,931
Administrative Analyst . . . 20% 49,368 x 1.375x .2 = 13.576
471 522
Reimbursement to the city is also agreed to and authorized for
other city positions not identified in the above list on an hourly
wage for actual time spent. Those city positions not identified
above shall be required to identify time spent on Redevelopment
Agency projects on the employee time sheet used for payroll
purposes. The Finance Department shall use these time sheets for
the purpose of calculating actual reimbursement by the
Redevelopment Agency to the city.
Reimbursement to the city is also agreed to and authorized for the
salary-related cost of retirement, health insurance and Workers'
Compensation insurance in the same proportion that the salary costs
of the above enumerated employees and officers bear to the total
city salary costs subject to retirement, health insurance, and
Workers' Compensation costs.
Reimbursement to the city is also agreed to and authorized for all
other identifiable direct costs including but not limited to the
cost of telephone calls, duplicating services and postage costs.
Reimbursement to the city is also agreed to and authorized for 15%
of the salaries and benefits above to cover general overhead costs
incurred by the city.
PASSED, APPROVED and ADOPTED this 18th day of June, 1992.
RANCHO MIRAGE REDEVELOP ENT AGENCY
Alan D. Seman
Chairman
Barbara E. Dohn
Agency Secretary
RANCHO MIRAGE REDEVELOPMENT AGENCY 14
1) Loan $3,404,400 - General Fund
Purchase land on Highway 111 (FY 1988/89)
2) Loan $905,679 - Fire Tax Fund
Construct Gerald Ford Drive Fire Station #2 (FY 1991/92)
Interest accrues on the loans in an amount equal to the city rate of return on funds
invested in the Local Agency Investment Fund (LAIF) during the term of the loan.
Current rate: May 1992 = 5.379%
RANCHO MIRAGE REDEVELOPMENT AGENCY 15
WHITEWATER PROJECT AREA
RANCHO MIRAGE REDEVELOPMENT AGENCY 16
NORTHSIDE PROJECT AREA