HomeMy WebLinkAboutRDA CIP BUDGET 07-20-81DATE:
FROI~:
SUBJECT:
July 15, 1981
REDEVELOPMENT AGENCY
7-20-81
NO. 4
,.to,-co-
Board of Directors of the Tusti~munity Redevelopment Agency via C.R.
Thayer, Acting City M~nager ~'~'~"~1 k .
Ronald A. Nault, Finance Direct~--
Resolution Adopting the 1981-82 Operating and Capital Improvement Budget
-- DISCUSSION
The attached Resolution incorporates all the changes discussed during the Budget
workshops. Per the Boards' direction the Prospect Avenue storm drain has been
deleted, $84,000, and the architecture and engineering for Col,~hus Tustin Park has
been combined into a single $150,000 project. This combination of projects deletes
an additional $50,000 from the 1981-82 Capital Improvement Budget for a total
reduction of $134,000.
RECOMMENDATION
Review and adopt the Resolution as presented.
RESOLUTION NO. RDA 81-9
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE TUSTIN
COMMUNITY REDEVELOPMENT AGENCY, ADOPTING THE AGENCY
BUDGET AND APPROPRIATING REVENUE OF THE AGENCY FOR THE
FISCAL YEAR 1981-82.
W~REAS, in accordance with goo~ fiscal policies the Executive
Director has prepared and submitted to the Board of Directors a proposed
annual budget for the 1981-82 fiscal year, beginning J~ly 1, 19811 and
8 WHEREAS, the Board of Directors, as the legislative bo~y of the
Agency, has reviewed this proposed budgetl
NOW, THEREFORE, the Board of Directors of the Tustin Coi~nity
10 Redevelopment Agency does hereby resolve, determine, and order as follows~
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Section 1 = The Budget as propose~ by the Executive Director is
hereby adopted for the fiscal year co..~..~encing July 1, 1981.
Section 2: The Redevelopment Agency revenues are estimated to be
13 $976,688 fro~ property tax increments.
balances ere to be used as follows~
0perational Expenses
Capital Improvements
The proceeds and carry-over fund
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$ 109,832
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2,262,600
16 $2,372,432
17 Section 3~ The City General Fund has previouslyma~e a $1,125,000
loan available to the Redevelopment Agency effective June 18, 1979, in order
18 to commence its various program- and projects, which shall be repaid with
eight ~ercent (8%) interest as tax increment funds ere received by the Agency.
PASSED AND ADOPTED at a regular meeting of the Board of Directors of the
20 Tustin Redevelopment Agency, held on the 20th ~ay of July, 1981.
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ATTEST:
James B. Sharp, Chairman
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26 F. ary E. Wy~a
City Clerk
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