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Home My WebLink About6/2/2004 - STAFF REPORTS (8) NOTICE OF PUBLIC HEARING CITY OF PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY PROPOSED BUDGET SUMMARY FISCAL YEAR 2004-2005 Below is the proposed 2004-2005 fiscal year budget in summary form. The supporting detail for the proposed budget is available at City Hall in the Office of the City Clerk and the Library Center. A public hearing on the proposed budget will be held at a regular meeting of the Community Redevelopment Agency at 7:00 p.m. on June 2, 2004, in the Council Chamber at City Hall, 3200 E. Tahquitz Canyon Way, Palm Springs, CA. PROJECT CAPITAL DEBT PROJECTS SERVICE Merged Area#1 $ 750,311 $ 4,201,888 Merged Area #2 462,174 2,648,673 Low & Moderate Income Housing 1,541,083 465,693 Plaza Theatre 84,264 0 TOTAL $ 2,837,832 $ 7,316,254 Written comments regarding the proposed budget may be submitted to the Community Redevelopment Agency prior to the June 2Id public hearing or persons may speak at the meeting. Dated this 19th day of May 2004. PATRICIA A. SANDERS Assistant Secretary Publish May 22, 2004 C 02 COMMUNITY REDEVELOPMENT AGENCY Fiscal Year 2004-2005 Total Anticipated Capital Projects Merged Merged Project Project Area Project Area Original Area Proiect Cost No. 1 No. 2 CBD Powder Coating Streetlights $60,000 $60,000 Purchase/Abate Property $155,000 $155,000 Tahquitz-Andreas Andreas Road Streetscape $200,000 $200,000 Arenas Road Streetscape $200,000 $200,000 Highland-Gateway Industrial Streets/Sewers $120,000 $120,000 Project Area#9 North Palm Canyon Sewer $125,000 $125,000 Visitor Center Improvements $40,000 $40,000 $900,000 $500,000 $400,000 Note: Because of additional ERAF actual Capital Project budgets are: $400,000 $300,000 V CRATEMP 5/26/04 MERGED AREA#1 MERGED AREA#2 HOUSING TOTAL 7CAPITAL DEBT SRV PLAZA TOTAL CAPITAL DEBT SRV TOTAL 811 851 821 812 852 882 1 Cash Bal 6/30103 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 1,185,473 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 11 Out 0 0 0 0 0 0 0 0 0 12 13 Loans 14 In 700,000 0 0 700,000 300,000 0 300,000 0 1,000,000 15 Out 0 0 0 0 0 0 0 0 0 16 17 Cash w Fiscal Agent 0 84,417 0 84,417 0 34 34 0 84,451 18 19 Appropriation 20 Personnel Costs (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,W) 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 1 (972,494) 0 (806,475) (806,475) 0 (1,778,969) 27 Housing 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) (300,000) 0 (300,000) 31 Loan Repayment 0 (700,000) 0 (700,000) 0 (300,000) (360,000) 0 (1,000,000) 32 33 Est Cash Bal (20,851) 846,607 438,731 1,264,487 48,220 199.400 247,620 1,025,418 2,537,525 34 6130104 MERGED AREA#1 MERGED AREA#2 HOUSING TOTAL CAPITAL DEBT SRV PLAZA TOTAL CAPITAL DEBT SRV TOTAL 811 851 821 812 852 882 1 Est Cash Bal (20,851) 846,607 438,731 1,264,487 48,220 199,400 247,620 1,025,416 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 6/30/05