HomeMy WebLinkAboutRDA RES 08-03RDA RESOLUTION NO. 08-03
A RESOLUTION OF THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF TUSTIN,
CALIFORNIA, ADOPTING THE AGENCY BUDGET AND
APPROPRIATING FROM ANTICIPATED REVENUE OF
THE AGENCY FOR THE FISCAL YEAR 2008-2009
WHEREAS, in accordance with good fiscal policies, the Executive Director of
Tustin community Redevelopment Agency has prepared and submitted to the Board of
Directors a proposed Annual Budget for the 2008-2009 fiscal year, beginning July 1,
2008; and
WHEREAS, Section 33334.3 of California Redevelopment Law provides that the
amount of money spent from the Low and Moderate Income Housing Fund for planning
and general administrative activities associated with the development, improvement and
preservation of low and moderate income housing shall not be disproportionate to the
amount actually spent for the cost of production, improvement or preservation of that
housing, and that the Redevelopment Agency shall determine annually that the
expenditures from the Low and Moderate Income Housing Funds for each
Redevelopment Project Area for planning and administrative expenses are necessary
for the production, improvement or preservation of the low and moderate income
housing; and
WHEREAS, the Board of Directors, as the legislative body of the Agency, has
reviewed this proposed budget;
NOW, THEREFORE, the Board of Directors of the Community Redevelopment
Agency of the City of Tustin does hereby resolve, determine and order that the following
sums of money are appropriated from the anticipated revenue of the Redevelopment
Agency for the purposes stated during the 2008-2009 fiscal year, and that the
expenditures from the Low and Moderate Income Housing Fund for planning and
administrative expenses for each Redevelopment Project Area are not disproportionate
to the amount actually spent for the cost of production, improvement or preservation of
that housing and that the expenditures from the Low and Moderate Income Housing
Fund for planning and administrative expenses for each Project Area are necessary for
the production improvement and preservation of low and moderate income housing.
Operating Expenses $ 4,846,800
Debt Service 7,466,300
Capital Improvements 14,478,700
TOTAL APPROPRIATIONS 2008-2009 $ 26,791,800
RDA Resolution No. 08-03
Page 1 of 2
PASSED AND ADOPTED at a regular meeting of the Community
Redevelopment Agency of the City of Tustin held on the 15th day of July, 2008.
JERRY AMANTE
Mayor
ATTEST:
PAMELA STOKER,
Recording Secretary
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF TUSTIN )
I, Pamela Stoker, City Clerk and ex-officio Secretary of the Tustin Community
Redevelopment Agency of the City of Tustin, California, do hereby certify that the whole
number of the members of the Redevelopment Agency of the City of Tustin is five; that
the above and foregoing RDA Resolution No. 08-03 was duly passed and adopted at a
regular meeting of the Tustin Community Redevelopment Agency, held on the 15th day
of July, 2008, by the following vote:
AGENCYMEMBER AYES: Amante., Davert, Bone. Kawashima. Palmer (5)
AGENCYMEMBER NOES: None (0)
AGENCYMEMBER ABSTAINED: None (0)
AGENCYMEMBER ABSENT: None (0)
PAMELA STOKER
Recording Secretary
RDA Resolution No. 08-03
Page 2 of 2