HomeMy Public PortalAboutA2003-05-12LRA_sp
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;.~ LYNWOOD REDEVELOPMENT AGENCY
~`~' ~~ 11330 BULLIS ROAD LYNWOOD, CALIFORNIA 90262-3845 (310) 603-0220
Fernando Pedroza, cHAIRMAN
Ramon Rodriguez, VICE CHAIRMAN
Louis Byrd, MEMBER
~ur0 ReyeS,MEMBER
Paul Richards, MEMBER
This Agenda contains a brief general description of each item to be considered. Copies of the Staff reports or
other written documentation relating to each item of business referred to on the Agenda are on file in the Office of
the City Clerk and are available for public inspection. A person who has a question concerning any of the agenda
items may call the City Manager at (310) 603-0220, ext. 200.
AGENDA
LYNWOOD REDEVELOPMENT AGENCY
MAY 12, 2003
SPECIAL MEETING
6:00 P.M.
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C9TY OF LYPJWOOU
CITY CLE.i7KS OFFICE
t~IAY 0 8 2003 PM
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LYNWOOD CITY HALL, 11330 BULLIS ROAD C~~~'~`-~
FERNANDO PEDROZA
CHAIRMAN
RAMON RODRIGUEZ
VICE CHAIRMAN
ARTURO REYES
MEMBER
EXECUTIVE DIRECTOR
LORRY HEMPE
OPENING CEREMONIES:
A. Call Meeting to Order.
LOUIS BYRD
MEMBER
PAUL RICHARDS, II
MEMBER
AGENCY COUNSEL
JAMES CASSO
B. Roll Call (BYRD -REYES-RICHARDS-RODRIGUEZ -PEDROZA)
C. Certification of Agenda Posting by Secretary
1
PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
PUBLIC ORAL COMMUNICATIONS
ITEMS FOR CONSIDERATION
REGULAR ITEMS
F.Y. 2002-2003 YEAR END REVIEW.
Comments:
The purpose of this item is to have the Agency Chairman and board Members adopt a
resolution amending the Agency's Annual Operating Budget for F.Y. 2002-03 to reflect
budget amendment requests.
Recommendation:
Staff recommends that the Agency Chairman and board Members adopt the attached
resolution entitled: "A RESOLUTION OF THE LYNWOOD REDEVELOPMENT
AGENCY OF THE CITY OF LYNWOOD AUTHORIZING AND APPROVING
AMENDMENTS TO THE ANNUAL OPERATING BUDGET FOR FISCAL YEAR 2002-
03".
PUBLIC HEARING
NONE
INFORMATION ITEM
NONE
CLOSED SESSION
NONE
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ADJOURNMENT
THE NEXT REGULAR MEETING WILL BE HELD ON MAY 20, 2003 AT 6:00 P.M. IN THE
COUNCIL CHAMBERS OF CITY HALL, 11330 BULLIS ROAD, LYNWOOD, CALIFORNIA.
DATE: May 12, 2003
TO: The Honorable Chairman and Members of the Board
FROM: Lorry Hempe, Executive Director
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BY: Alfretta F. Earnest, Asst. Executive Director ~~
SUBJECT: F.Y. 2002-2003 Year End Review
PURPOSE:
The purpose of this item is to have the Agency Chairman and Board Members adopt a
resolution amending the Agency's Annual Operating Budget for F.Y. 2002-03 to reflect
budget amendment requests.
BACKGROUND:
On November 5, 2002, Agency Board Members adopted the Annual Operating Budget
for FY 2002/03. The adopted budget included allocations for several positions that
have remained vacant. In addition, sale of property transactions have been completed
since November, however, the revenue was not projected in the current year's budget.
Therefore, budget amendments are needed to reflect operational changes that have
occurred since the Agency's budget was adopted.
ANALYSIS:
The current budget amendment requests affect the following funds:
FUND # FUND DESCRIPTION EXPENDITURE/TRANS-OUT REVENUE-TRANS-IN
12 Area "A" Redevelo ment $ 25,000 $ 50,000
14 Tax Increment Area "A" 80,800
26 Area "A" UM Housin 100,000
28 Alameda UM Housin 100,000
TOTAL $255,800 $50,000
RECOMMENDATION:
Staff respectfully recommends that the Agency Chairman and Board Members adopt
the attached resolution entitled: "A RESOLUTION OF THE LYNWOOD
REDEVELOPMENT AGENCY OF THE CITY OF LYNWOOD AUTHORIZING AND
APPROVING AMENDMENTS TO THE ANNUAL OPERATING BUDGET FOR FISCAL
YEAR 2002-03".
AGENDA ITEM
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LRA BUDGET AMENDMENT RECAP
AMENDMENTS
FUND
Area "A" Redevelopment Fund (12)
Area "A" Tax Increment Fund (14)
Alameda Project Area Tax Increment (24)
Area "A" tJM Housing Set-Aside
Alameda Project UM Housing Set-Aside
TOTAL
EXPENDITURES TRANS-OUT REVENUE TRANS-IN
25,000 130,800 -80,800
-80,800
-100,000
-100,000
-175,000 •80,800 130,800 -80,800
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LRA RESOLUTION NO.
A RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY
OF THE CITY OF LYNWOOD AUTHORIZING AND APPROVING
AMENDMENTS TO THE ANNUAL OPERATING BUDGET FOR
FISCAL YEAR 2002-03
WHEREAS, the Lynwood Redevelopment Agency Board adopted its
annual Operating Budget on November 5, 2002; and
WHEREAS, the budget serves as an allocation plan for redevelopment
activities and projects; and
WHEREAS, certain budget amendments have been requested to reflect
changes in operational costs.
NOW, THEREFORE, the Agency Chairman and Board Members of the
Lynwood Redevelopment Agency do hereby find, order, and resolve as follows:
Section 1. That amendments to the Annual Operating Budget for FY 2002/03
are hereby approved.
Section 2. The Executive Director, or her designee is hereby authorized to
make the following budget amendments:
Fund # Fund Description Expenditure/trans-out Revenue-trans-in
12 Area "A" Redevelopment $ 25,000 $ 50,000
14 Tax Increment Area "A" (80,800}
26 Area "A" L/M Housing (100,000)
28 Alameda UM Housing 10( 0,000) -0-
TOTAL ($255,800) $50,000
Section 3. This resolution shall go into effect immediately upon its
adoption.
PASSED, APPROVED AND ADOPTED this 12th day of May 2003.
Fernando Pedroza, CHAIRMAN
Lynwood Redevelopment Agency