HomeMy WebLinkAboutRDA 11-02RDA RESOLUTION NO. 11-02
A RESOLUTION OF THE TUSTIN 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
2011-2012
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 2011-2012 fiscal year, beginning July
1, 2011; 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 shah not be
disproportionate to the amount actually spent far the cost of praduction, improvement
or preservation of that housing, and that the Redevelapment Agency shall determine
annually that the expenditures from the Low and Moderate Income Housing Funds
for each Redevelopmen# Project Rrea far planning and administrative expenses are
necessary for the production, improvement or preservation of the law and moderate
income hauling; and
WHEREAS, the Agency, pursuant to Health and Safety Code section
33334.3, has determined that the planning and administrative expenses are
necessary for the production, improvement, ar preservation of low- and maderate-
income housing;
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 2011-2012
fiscal year, and that the expenditures from the Low and Moderate Income Housing
Fund for planning and administrative expenses for each Redevelapment Project
Area are not disproportionate to the amount actually spent for the cost of production,
improvement ar 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 praduction improvement and preservation of
low and moderate income housing.
RDA Resolution No. 11-02
Page 1 of 3
South Center Project Area:
Operating Expenses $ 9,580,106
Debt Service 7,939,545
Capital Improvements 743 930
TOTAL SOUTH CENTRAL PROJECT AREA
APPROPRIATIONS 2011-2012 $ 18,263,581
Marine Corp Air Station Project Area:
Operating Expenses $ 4,943,669
Debt Service 6,167,751
Capital Improvements (includes use of bond
proceeds) 20,194,391
TOTAL MARINE CORP AIR STATION
PROJECT AREA APPROPRIATIONS 2011-2012 $ 31,305,811
Town Center Project Area:
Operating Expenses $ 1,827,899
Debt Service 2,194,666
Capital Improvements 35,000
TOTAL TOWN CENTER PROJECT AREA
APPROPRIATIONS 2011-2012 $ 4,057,565
PASSED and ADOPTED at the regular meeting of the Tustin Community
Redevelopment Agency held on the 19th day of July, 2011.
r ~_ ~ ~;
Y
°° JERRY AMANTE,
Chairman
sr
ATTEST:
` ~,
PAMELA STOKER,
City Clerk
RDA Resolution No. 11-02
Page 2 of 3
STATE OF CALIFORNIA )
COUNTY OF ORANGE } SS
CITY OF TUSTIN }
I, Pamela Stoker, recording secretary of the Tustin Community Redevelopment
Agency, Tustin, California, do hereby certify that the whole number of the members of
the Tustin Community Redevelopment Agency is five; that the above and foregoing
RDA Resolution No. 11-02 was duly passed and adopted at a regular meeting of the
Tustin Community Redevelopment Agency, held on the 19~' day of July, 2011, by the
following vote:
COUNCII.MEMBER AYES: Amante, Nielsen, Gavello, Gamez, Murray (S)
COUNCILMEMBER NOES: None (0}
COUNCI~MEMBER ABSTAINED: None (0}
COUNCILMEMBER ABSENT: None (p}
PAMELA STOKER,
City Clerk
RDA Resolution No. 11-42
Page 3 of 3