HomeMy WebLinkAboutRDA 02 ADOPT RDA BUDGET 07-17-06AGENDA REPORT
MEETING DATE: JULY 17, 2006
TO: WilLIAM A. HUSTON, EXECUTIVE DIRECTOR
FROM: RONALD A. NAULT, FINANCE DIRECTOR
SUBJECT: RESOLUTION NO. RDA 06-01 ADOPTING THE AGENCY BUDGET AND
APPROPRIATING REVENUE OF THE AGENCY FOR FISCAL YEAR 2006/2007
SUMMARY:
The Agency is requested to approve the attached Resolution adopting the budget for the
Tustin Community Redevelopment Agency for Fiscal Year 2006/2007.
RECOMMENDATION:
Adopt Resolution No. RDA 06-01, a Resolution of the Board of Directors of the Community
Redevelopment Agency of the City of Tustin, adopting the Agency's 2006/2007 Budget of
$16,375,507.
FISCAL IMPACT:
The Redevelopment Agency action will adopt the expenditure program for the 2006/2007 fiscal year.
DISCUSSION:
The Draft 2006/2007 Tustin Community Redevelopment Agency Budget was included in the Draft
City of Tustin Program and Financial Plan which was presented to the City Council at its workshop
on July 3, 2006. There are no adjustments included in the recommended appropriations.
Keith D. Neves
Senior Management Analyst
Finance Director
Attachment
RDA2006BudgetStaffReport.doc
RESOLUTION NO. RDA 06-01
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 2006-2007
WHEREAS, in accordance with good fiscal policies, the Executive Director of
the Tustin Community Redevelopment Agency has prepared and submitted to the
Board of Directors a proposed Annual Budget for the 2006-2007 fiscal year,
beginning July 1, 2006; 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 annualiy 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 2006-2007 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
necessary for the production, improvement or preservation of low and moderate
income housing.
Operating Expenses
Debt Service
Capital Improvements
$
811,328
9,140,750
6.423.429
TOTAL APPROPRIATIONS 2006-2007
$
16,375,507
PASSED AND ADOPTED at a regular meeting of the Community
Redevelopment Agency of the City of Tustin held on the 17th day of July, 2006.
DOUG DAVERT
Chairperson
ATTEST:
PAMELA STOKER
City Clerk
TUSTIN COMMUNITY REDEVELOPMENT AGENCY
RESOLUTION CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF TUSTIN )
RESOLUTION NO. RDA 06-01
Pamela Stoker, Recording Secretary and ex-officio Secretary of the Community
Redevelopment Agency of the City of Tustin, California, does hereby certify that the
whole number of the members of the Tustin Community Redevelopment Agency is five;
that the above and foregoing Resolution was duly and regularly passed and adopted at
a regular meeting of the Tustin Community Redevelopment Agency held on the 17th
day of July, 2006, by the following vote:
AGENCY MEMBER AYES:
AGENCY MEMBER NOES:
AGENCY MEMBER ABSTAINED:
AGENCY MEMBER ABSENT:
PAMELA STOKER
Recording Secretary
RDA2006~2007BudgetResolution. doc