HomeMy WebLinkAbout6/9/2004 - STAFF REPORTS PROOF OF PUBLICATION This is space for County Clerk's Filing stamp
(2015.5.C.C.P)
u"I
- STATE OF CALIFORNIA U a ]]
County of Riverside
17 f ---------------------------------------------
1 am a citizen of the United States and a resident of Proof of Publication of
the County aforesaid;f am over the age of eighteen ----------------------------------------------
years,and not a party to or interested in the
above-entitled matter.I am the principal cleric of a
printer of the,DESERT SUN PUBLISHING
COMPANY a newspaper of general circulation,
printed and published in the city of Palm Springs,
8324
County of Riverside,and Which newspaper has been Na. NOCIOYE OF PUBLICLP HEARING
adjudged a newspaper of general circulation by the COMMUNITY REDEVELOPMENT AGENCY
Superior Court of the County of Riverside,State of PROPOSED BUDGET SUMMARY
1 Ty FISCAL YEAR 2004-2005
California under the date of March 24, 1988.Case Below is the proposed 2004-2005 fiscal year bud-
Number 191236;that the notice,of which the gat In summary form.,The supppporting detail for
the proposed bud et is avaJable t City Hall in
annexed is a printed copy(set in type not smaller the Office of the Cgity clerk and the Library cen-
ter. A public hearing an the proposed budget will
than 11011 pal'iel,has been pnbtShe(1111 each regular be held at a regular meeting of the Communityy
and entire Issue of Said newspaper and not in any Redevelopment Agency at 7:r p.cit on June Y.
Redevelopment
l the Council Chamber at City Hall, 3200
supplement thereof all the following dates,to wit: E.Tahquftz Canyon Way, Palm Springs, CA.
CAPITAL DEBT
PROJECT SERVICE
May 22nd PROJECTS
--------------------------------------------------------------- Merged Area 01 "$462,174 $2311 ,G48,fi73 - -
Merged Area fl2 --
Low Pi.Modoriate Income �465,693
Housing 1,541,083 - 0
_______________________________________________________________ Plaza Theatre 84,264
All ill the year 2004 TOTAL$2,837,832 $7,3"I G,254
1 certify(or declare)nuclei,penalty of perjury that the Written comments regarding the proposed budget
I may be submitted to the Community Redevelop-
foregoing i5 true and correct
plant Agency prior to the June 2nd cublic hearing
e
of persons may speak at the meeting.
Dated at Palm Springs,California this-----7th ----day Dated this lgth day of May 2004.
PATRICIA it A.
SANDERS
ecrD Secretary
of----------June-----------------------------2004 PUP: May 22, 2004 _
4
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Signature
�.a� B 9 C'✓u�a �l
s
CRATEMP 5126/04
MERGED AREA#1 MERGED AREA#2 HOUSING TOTAL
CAPITAL DEBT SRV PLAZA TOTAL CAPITAL DEBT SRV TOTAL
811 851 821 812 852 882
1 Cash Sal 6130/03 133,009 721,114 387,861 1,241,984 373,797 484,871 858,668 2,501,427 4,602,079
2
3 Revenue
4 Property Tax 0 3,694,000 0 3,694,000 0 2,435,000 2,435,000 0 6,129,000
5 Other 3,000 500 128,000 131,500 42,000 0 42,000 74,000 247,500
6 Setaside 0 0 0 0 0 0 0 1,186,473 1,185,473
7
8 Transfers
9 In-Debt Sery Rev 0 0 0 0 0 0 0 0 0
10 in-Other 0 0 0 0 0 0 0 0 0
7110ut 0 0 0 0 0 0 0 0 0
12
13 Loans
VIn700,000 0 0 700,000 300,000 0 300,000 0 1,000,000
0 0 0 0 0 0 0 0 0
Agent 0 84,417 0 84,417 0 34 34 0 84,451sts (3,700) 0 0 (3,700) (3,400) 0 (3,400) (129,723) (136,823)
21 Downtown Devel Ctr (107,000) 0 0 (107,000) (43,000) 0 (43,000) 0 (150,000)
22 Legal Fees (20,000) 0 (10,000) (30,000) (20,000) 0 (20,000) (10,000) (60,000)
23 Contract/Material (92,151) 0 (58,020) (150,171) (82,904) 0 (82,904) (50,471) (283,546)
24 Administration (138,107) 0 (9,110) (147,217) (69,031) 0 (69,031) (72,240) (288,488)
25 Capital Projects (495,902) 0 0 (495,902) (449,242) 0 (449,242) (2,005,268) (2,950,412)
26 Pass Thru's 0 (972,494) 0 (972,494) 0 (806,475) (806,475) 0 (1,778,969)
27 H.umng Setaside 0 (711,477) 0 (711,477) 0 (473,996) (473,996) 0 (1,185,473)
28 ERAF 0 (158,000) 0 (158,000) 0 (120,000) (120,000) 0 (278,000)
29 Debt Service 0 (1,561,453) 0 (1,561,453) 0 (720,034) (720,034) (467,780) (2,749,267)
Loan Payment Credit 0 450,000 0 450,000 0 0 0 0 450,000
30 Conv Ctr Debt 0 0 0 0 0 (300,000) (3001000) 0 (300,000)
31 Loan Repayment 0 (700,000) 0 (700,000) 0 (300,000) (300,000) 0 (1,000,000)
32
33 Est Cash Sal (20,851) 446,607 1 438,731 1,264,487 48,220 199,400 247,620 1,025,418 2,537,525
34 6/30/04
MERGED 1AREA#1 MERGED AREA#2 HOUSING TOTAL
CAPITAL DEBT SRVA TOTAL CAPITAL DEBT SRV TOTAL
811 851 812 852 882
1 Est Cash Bal (20,8551) 846,60731 1,264,487 48,220 199,400 247,620 1,025,418 2,537,525
2 6130/04
3
4 Revenue
5 Property Tax 0 3,920,000 0 3,920,000 0 2,580,000 2,580,000 0 6,500,000
6 Other 3,000 500 152,800 156,300 8,000 0 8,000 74,000 238,300
7 Setaside 0 0 0 0 0 0 0 1,257,344 1,257,344
8
9 Transfers
10 In-Debt Sery Rev 0 0 0 0 0 0 0 0 0
11 In-Other 0 0 0 0 0 0 0 0 0
12 Out 0 0 0 0 0 0 0 0 0
13 -
14 Loans
15 In 800,000 0 0 800,000 500,000 0 500,000 0 1,300,000
16 Out 0 0 0 0 0 0 0 0 0
17
18 Cash w Fiscal Agent 0 0 0 0 0 0 0 0 0
19
20 Appropriation
21 Personnel Costs (3,700) 0 0 (3,700) (3,400) 0 (3,400) (171,400) (178,500)
22 Downtown Devel Ctr (107,000) 0 0 (107.000) (43,000) 0 (43,000) 0 (150,000)
23 Legal Fees (50,000) 0 (11,000) (61,000) (5,000) 0 (5,000) (10,000) (76,000)
24 Contract/Material (51,000) 0 (63,020) (114,020) (37,500) 0 (37,500) (59,660) (211,180)
25 Administration (138,611) 0 (10,244) (148,855) (73,274) 0 (73,274) (75,023) (297,152)
26 Capital Projects (400,000) 0 0 (400,000) (300,000) 0 (300,000) (1,225,000) (1,925,000)
27 Pass Thru's 0 (989,590) 0 (989,590) 0 (858,395) (858,395) 0 (1,847,985)
28 Housing Setaside 0 (755,246) 0 (755,246) 0 (502,098) (502,098) 0 (1,257,344)
29 ERAF 0 (258,000) 0 (258,000) 0 (220,000) (220,000) 0 (478,000)
30 Debt Service 0 (1,599,052) 0 (1,599,052) 0 (718,180) (718,180) (465,693) (2,782,925)
Loan Payment Credit 0 100,000 0 100,000 0 350,000 350,000 0 450,000
31 Conv Ctr Debt 0 0 0 0 0 (300 000) (300,000) 0 (300,000)
32 Loan Repayment 0 (800,000) 0 (800,000) 0 (500,000) (500,000) 0 (1,300,000)
33
34 Est Cash Bal 31,838 465,219 507,267 1,004,324 94,046 30,727 124,773 349,986 1,479,083
35 6/30/06
RESOLUTION NO.
OF THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF PALM
SPRINGS, CALIFORNIA, APPROVING A
BUDGET FOR THE FISCAL YEAR 2004-2005
WHEREAS, a budget for the fiscal year 2004-2005 has been prepared by the
Community Redevelopment Agency, Director of Community & Economic Development,
and the Agency Treasurer; and
WHEREAS, the Community Redevelopment Agency has examined said budgets and
conferred with the Community Redevelopment Agency Executive Director; and
WHEREAS, the Community Redevelopment Agency, after due deliberation and
consideration, agrees with the budget recommended; and
WHEREAS, pursuant to Health & Safety Code Section 33334.3 (d), the Agency hereby
finds and determines that the planning and administrative expenses to be paid from the
Low and Moderate Income Housing Fund for each redevelopment project 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; and
WHEREAS, the Agency's planning and administrative expenses paid from the Low and
Moderate Income Housing Fund for the production, improvement or preservation of low
and moderate income housing pay for a portion of staff and legal costs necessary to
facilitate new construction projects and administer individual rehabilitation and purchase
programs, land and property acquisition and disposition, multi-government agreements,
and bond issues related to low and moderate income housing.
NOW THEREFORE BE IT RESOLVED by the Community Redevelopment Agency of
the City of Palm Springs as follows:
Section 1. That the budget in the amount of $9,889,117 be approved for the
following purposes:
Capital &Admin. Debt Service
Merged Area No. 1 $ 750,311 $ 3,863,168
Merged Area No. 2 467,427 2,717,171
Low& Mod. Income Housing 1,541,083 465,693
Plaza Theatre 84,264 0
$2,843,085 $ 7,046,032
Section 2, That the Finance Director of the City of Palm Springs is authorized to
record the budget and such other accounting entries as may be
necessary for proper accounting treatment in accordance with rules and
regulations applicable to other City of Palm Springs funds.
Section 3. That the Work Program for Low- and Moderate Income Program in Fiscal
Year 2004-2005 is as follows, including total Agency assistance
committed:
Vista Sunrise Special Needs Apartments $1,505,000
El Dorado Mobile Home Park $ 500,000
Desert Highland Infill Program $ 300,000
Coyote Run Apartments Expansion $1,350,000
Section 4. That the accomplishments of the Low- and Moderate Income Program in
Fiscal Year 2003-2004 are as follows:
• Vista Sunrise Special Needs Apartments. The project has received its
financing from the State MHP program, County HOME funds, and the
Agency. The acquisition of the major parcel from the Desert
Healthcare District shall be finalized in early 2004-05 and the project
will be able to begin construction in late calendar year 2004. The goal
was to have begun construction during the 2003-04 year.
• El Dorado Mobile Home Park, The Agency assisted 17 Moderate
Income purchasers in the park at a cost of $85,000, and provided
$38,675 in assistance to low-income renters for the income
certification fee. In addition, the park received $1 million in state
MPROP funds to assist low-income purchasers. The goal was to
receive the MPROP commitment and to assist as many residents as
possible with the transition to resident ownership. The Agency
exceeded its goal in the fee certification assistance program by 150%.
In the case of moderate assistance purchasers, much less assistance
was necessary.
• Desert Highland Infill Program. The Agency approved the purchase
of five single family home lots from Coachella Valley Housing
Coalition (CVHC) at a total price of $113,000, plus two Chapter 8
purchases from the County of Riverside at a total price of $149,602
for the program. In addition, the Agency is effectuating a swap for two
additional single family lots. The Agency met its goal of acquiring the
CVHC and County lots; the lots to be acquired through the swap, at
no cost to the Agency, are extra.
• Coyote Run Apartments Expansion. The project has received its
financing from the State MHP program, HOME funds, and the
Agency. The project has been pre-bid and the developer is finalizing
easements, title exceptions, and rights-of-way. Additionally, the
Agency committed an additional $350,000 to cover the additional cost
of escalating lumber prices. The project begins construction in late
calendar year 2004. The goal was to have started construction in the
2003-04 year.
• Single Family Rehab Program. Staff closed out the final home repairs
in this program, which expended approximately $900,000 over three
fiscal years. The goal was to finish the program in 2003-04.
• Santiago Sunrise Mobile Home Park. The Agency approved a
Disposition and Development Agreement with a non-profit purchaser
of the park, contributing the underlying fee interest in the land at a
value of$392,000. In addition, the City approved a conduit Mortgage
Revenue Bond on behalf of the non-profit to purchase and upgrade
the park. The goal was to approve the DDA and bond issue in 2003-
04.
ADOPTED this day of 2004,
AYES:
NOES:
ABSENTS:
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CALIFORNIA
By
Assistant Secretary Chairman
REVIEWED &APPROVED