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Home My Public Portal AboutResolution CRA 95-5811 1 1 RESOLUTION NO. CRA 95 -581 A RESOLUTION OF THE TEMPLE CITY COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF TEMPLE CITY ADOPTING THE ANNUAL BUDGET FOR THE FISCAL YEAR COMMENCING JULY 1, 1995 AND ENDING JUNE 30, 1996 WHEREAS, the Executive Director has prepared, after consultation with its Members, a budget for the TEMPLE CITY COMMUNITY REDEVELOPMENT AGENCY ( "Agency ") to carry out redevelopment activities of the Rosemead Boulevard Redevelopment Project and a housing program per the State Mandate requirement for development; and WHEREAS, the annual funding of housing activities is not disproportionate to the cost of producing, improving, or preserving such housing. WHEREAS, appropriations made pursuant to the budget of the Agency are exempt from provisions of Article XIIIB of the California Constitution where used for redevelopment and housing activities; NOW, THEREFORE, BE IT RESOLVED by the Temple City Community Redevelopment Agency as follows: SECTION 1. That the budget for Agency for the fiscal year commencing on July 1, 1995 and ending June 30, 1996, as prepared and submitted by the Executive Director, is hereby approved and adopted as the budget of the Agency for said fiscal year (hereinafter "budget "). A copy of said budget is attached hereto, marked "Exhibit A ", and is incorporated herein by this reference. SECTION 2. That from the effective date of said budget, to wit: July 1, 1995, the several amounts stated herein as proposed expenditures shall be and become appropriated to the Agency for the respective objects and purposes therein set forth, subject to expenditures pursuant to the provisions of all applicable statutes of the State. SECTION 3. That the Agency hereby fmds and determines: A. That the expenditures authorized by this budget and the appropriations pursuant thereto are from tax allocation proceeds as specified in Subdivision B of Section 33670 of California Health & Safety Code, proceeds of bonds which are secured solely by such tax allocation proceeds; and special assessments; and B. That all of the expenditures and appropriations pursuant to the budget for redevelopment activities are consistent with California Health & Safety Code Section 33678 in that they are for carrying out the Rosemead Boulevard Redevelopment Project, and related redevelopment activities, as defined in California Health & Safety Sections 33020 and 33021, and primarily benefit the project area included in the above Project; and That all of the planning and administrative expenditures and appropriations pursuant to the budget to be paid from the Low and Moderate Housing Fund are consistent with California Health Code Section 33334.3 in that they are necessary for the production, improvement, or preservation of low and moderate income housing and are not disproportionate to the amounts budgeted for the costs of production, improvement, or preservation of that housing. SECTION 4. That resolution or portions thereof, relating to salaries inconsistent herewith, are repealed and rescinded. Resolution No. CRA 95 -581 Page 2 SECTION 5. That the Agency Secretary shall certify to the passage and adoption of this resolution and the same shall thereupon take effect and be in force. APPROVED AND ADOPTED this 29th day of June, 1995 ATTEST: / (1,-Agen gad' Zzi :144 CHAIRMAN (VICE ) Secretary APPROVED AS TO F en ounse ereby certify that the foregoing resolution, Resolution No. CRA 95 -581 was adopted by the Temple City unity Redevelopment Agency at its special meeting held on the 29th day of June 1995 by the following vote: AYES: Member - Budds, Gillanders, Souder, Wilson NOES: Member -None ABSENT: Member - Breazeal JSecre 1 1 1 TEMPLE CITY REDEVELOPMENT AGENCY ANNUAL BUDGET FY 1995 -1996 STATEMENT OF ESTIMATED FUND BALANCES AS OF JUNE 30, 1995 AND JUNE 30, 1996 FUND BALANCE 7/1/94 ESTIMATED REVENUES FY94 -95 ESTIMATED EXPENDITURES FY94 -95 ESTIMATED FUND 6/30/95 ESTIMATED REVENUES FY95 -96 ESTIMATED EXPENDITURES FY95 -96 ESTIMATED FUND 6/30/96 CAPITAL PROJECT FUND LOW & MODERATE HOUSING FUND DEBT SERVICE FUND 273,262 837,179 598,045 2,144,860 37,100 456,700 1,970,810 13,690 595,245 447,312 860,589 459,500 24,160 30,000 467,000 94,725 705,985 603,555 376,747 184,604 322,945 TEMPLE CITY REDEVELOPMENT AGENCY ANNUAL BUDGET FY 1995 -1996 ESTIMATED REVENUES BY SOURCE Actual Budget Estimated Estimated 1993-94 1994-95 1994-95 1995-96 CAPITAL PROJECT FUND Tax Increment $4,290 $ - $ - $ Intergovernmental - - 642,412 Proceeds From City Loan - - 1,012,123 Interest 152,908 309,510 300,755 13,000 Rental Income 24,485 19,105 19,105 11,160 Misc Income - - 170,465 - TOTAL REVENUE $181,683 $328,615 $2,144,860 $24,160 LOW & MODERATE HOUSING FUND Tax Increment (20% Set Aside - Deferred - Thru FY 95 -•96) Interest 19,208 - 37,100 30,000 TOTAL REVENUE $19,208 $ - $37,100 $30,000 DEBT SERVICE FUND Tax Increment $445,992 $457,800 $450,000 $460,000 Special Assessment 170,046 Interest 27,520 - 6,700 7,000 TOTAL REVENUE $643,558 $457,800 $456,700 $467,000 TEMPLE CITY REDEVELOPMENT AGENCY ANNUAL BUDGET FY 1995 -1996 DEPARTMENT REDEVELOPMENT AGENCY DIVISION REDEVELOPMENT AGENCY PROGRAM PROJECT IMPLEMENTATION ACCOUNT NO 91 -910 -9100 EXPENDITURE DETAIL ACCT FY 93-94 FY 94 -95 FY 94 -95 FY 95 -96 NO. ACTIVITY ACTUAL BUDGET ESTIMATED BUDGET PERSONNEL TOTAL PERSONNEL - - - - OPERATING EXP 100 Administration 125,517 47,845 40,500 70,490 110 Legal Fees 30,901 15,000 50,000 10,000 120 Audit Fees 5,980 5,000 4,500 2,000 130 Area Studies 11,132 - - 2,000 140 Acquisition Expense 14,559 4,000 20,000 - 150 Fiscal Agent Fees 1,774 - - - 160 Property Management - 500 500 500 360 Maps & Printing 1,619 1,600 - 1,000 410 Special Dept. Supplies 351 200 - 200 460 Training 566 200 - 500 510 Fares & Subsistence 410 600 - - 520 Reimbursed Mileage 456 480 - - 530 Meeting Expense 246 400 100 400 730 Memberships/Subsc. 2,180 1,250 1,250 1,250 750 Intergovernmental 29,093 30,000 27,660 - TOTAL OPER EXP 224,784 107,075 144,510 88,340 CAPITAL OUTLAY 810 Land Costs 561,737 2,200,000 1,825,000 - 850 Office Equipment - - - 1,800 920 Interest Expense 8,027 3,285 1,300 4,585 930 Bond Amortization 2,817,360 - - - 940 Loan Repayment 1,062,970 - - - TOTAL CAP OUTLAY 4,450,094 2,203,285 1,826,300 6,385 PROGRAM 4,674,878 2,310,360 1,970,810 94,725 TEMPLE CITY REDEVELOPMENT AGENCY ANNUAL BUDGET FY 1995 -1996 DEPARTMENT REDEVELOPMENT AGENCY DIVISION REDEVELOPMENT AGENC PROGRAM HOUSING ACCOUNT NO 93- 930 -9300 EXPENDITURE DETAIL ACCT FY 93 -94 FY 94 -95 FY 94 -95 FY 95 -96 NO. ACTIVITY ACTUAL BUDGET ESTIMATED BUDGET PERSONNEL TOTAL PERSONNEL - - - - OPERATING EXP 100 Administration 40,295 12,000 91,550 110 Legal Fees 3,000 600 2,500 120 Audit Fees - 500 1,695 360 Maps/Printing - - 400 410 Special Dept. Supplies 300 - 400 460 Training - - 500 510 Fares & Subsistence 300 290 - 520 Reimbursed Mileage - - 200 530 Meeting Expense - - 4C 610 Grants for Housing Rehab. - - 400,00 620 Loans for Housing Rehab. - - 200,90.. TOTAL OPER EXP - 43,895 13,390 698,550 CAPITAL OUTLAY 810 Land Costs 300,000 - - 920 Interest Expense 2,640 300 7,435 TOTAL CAP OUTLAY - 302,640 300 7,435 PROGRAM 346,535 13,690 705,985 TEMPLE CITY REDEVELOPMENT AGENCY ANNUAL BUDGET FY 1995 -1996 DEPARTMENT REDEVELOPMENT AGENCY DIVISION REDEVELOPMENT AGENCY PROGRAM DEBT SERVICE ACCOUNT NO 96- 960 -9600 EXPENDITURE DETAIL ACCT FY 93 -94 FY 94 -95 FY 94 -95 FY 95 -96 NO. ACTIVITY ACTUAL BUDGET ESTIMATED BUDGET PERSONNEL TOTAL PERSONNEL - - - - OPERATING EXP 120 Audit Fees - 2,000 1,700 3,100 150 Fiscal Agent Fees 9,515 5,000 5,000 5,500 750 Intergovernmental 29,093 30,000 30,000 25,000 TOTAL OPER EXP 38,608 37,000 36,700 33,600 CAPITAL OUTLAY 910 Principal Reduction 3,240,170 140,000 140,000 140,000 920 Interest Expense 640,160 202,565 268,545 279,955 940 Loan Repayment - - 150,000 150,000 TOTAL OUTLAY 3,880,330 342,565 558,545 569,955 PROGRAM 3,918,938 379,565 595,245 603,555