HomeMy WebLinkAbout6/4/2003 - STAFF REPORTS (21) CG 4(L
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cratemp COMMUNITY REDEVELOPMENT AGENCY
execsum EXECUTIVE SUMMARY
FISCAL YEARS 2002 to 2004
Cash Balances 6/30/02 6/30/03 6/30104
1 Merged Area#1 1,259,538 1,096,629 1,097,499
2 Merged Area#2 1,598,931 579,515 39,444
3 Housing 1,888,962 1,068,577 373,930
4
5 Totals 4,747,431 2,744,721 1,510,873
6
7
8
9 * Capital Projects FY 02 Expend FY 03 Appropr FY 04 Appropr
10 Merged Area#1 174,831 740,034 400,000
11 Plaza Theatre 326,244 - -
12 Merged Area#2 47,348 684,025 300,000
13 Housing 1,948,463 1,279,241 1,225,000
14
15 Totals 2,496,886 2,703,300 1,925,000
16
17
18
19 * Major Changes in MA #1 FY 03-04
20 Increase in ERAF payment (from $74,528) 228,000
21
22 " Major Changes in MA #2 FY 03-04
23 Increase in ERAF payment (from $56,223) 172,000
24
25 Increase in Contribution to Convention Center Debt Service (from $150,000) 300,000
26
27
28 " Downtown Development Center FY 02 Expend FY 03 Appropr FY 04 Appropr
29 Merged Area#1 77,000 107,000 107,000
30 Plaza Theatre 30,000 - -
31 Merged Area#2 37,000 43,000 43,000
32 Totals 144,000 150,000 150,000
33
34
35
36
37 * Revenue Estimates FY 02 Actual FY 03 Estimated FY 04 Projected
38
39 Merged Area# 1 3,386,247 3,458,000 3,586,000
40
41 Merged Area#2 2,534,318 2,304,000 2,381,000
42
43
44 Total 5,920,565 5,762,000 5,967,000
Page 1 of 5
CRATEMP COMMUNI11V REDEVECOPMEN1
pA7�-/+ 5/28/03
RD]ECT AR
MERGED AREA#1 MERGED AREA#2 HOUSING TOTAL
CAPITAL DEBT SERV PLAZA TOTAL CAPITAL DEBT SEW TOTAL
811 851 821 812 852 882
1 Adj Cash Bal 6/30/0 353,687 606,435 299,416 1,259,538 639,993 958,938 1,598,931 1,888,962 4,747,431
2
3 FISCAL YEAR 2002-03
4
5 Revenue 8,000 3,458,500 150,000 3,616,500 54,000 2,304,000 2,358,000 105,928 6,080,428
6
7 Set Aside 0 0 0 0 0 0 0 1,109,227 1,109,227
8
9 Loans 700,000 0 0 700,000 345,000 0 345,000 0 1,045,000
10
1 1 Cash w Fiscal Agent 0 56,490 0 56,490 0 9 9 0 56,499
12
13 Appropriation (1,070,160) (3,402,295) (63,444) (4,535,899) (862,083) (2,860,342) (3,722,425) (2,035,540) (10,293,864)
14
15 Est Cash Rai 6130103 (8,473) 719,130 385,972 1,096,629 176,910 402,605 579,515 1,068,577 2,744,721
16
17
18
19 FISCAL YEAR 2003-04
20
21 Revenue 8,000 3,586,500 150,000 3,744,500 20,000 2,381,000 2,401,000 117,928 6,263,428
22
23 Set Aside 0 0 0 0 0 0 0 1,147,187 1,147,187
24
25 Loans 700,000 0 0 700,000 300,000 0 300,000 0 1,000,000
26
27 Cash w Fiscal Agent 0 0 0 0 0 0 0 0 0
28
29 Appropriation (728,507) (3,637,993) (77,130) (4,443,630) (499,631) (2,741,440) (3,241,0711 (1,959,762) (9,644,463)
30
31 Est Cash Rai 6/30/04 (28,980) 667,637 458,842 1,097,499 (2,721) 42,165 39,444 373,930 1,510,873
Page 2 of 5
CRATEMP LUMMUN11IT KtIftVtLUPMLN I AGLNLY 5128/03
i'-AREA
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 Bal 6/30102 353,687 606,435 299,416 1,259,538 639,993 958,938 1,598,931 1,888,962 4,747,431
2
3 Revenue
4 Property Tax 0 3,458,000 0 3,458,000 0 2,304,000 2,304,000 0 5,762,000
5 Other 8,000 500 150,000 158,500 54,000 0 54,000 105,928 318,428
6 Setaside 0 0 0 0 0 0 0 1,109,227 1,109,227
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 0 700,000 345,000 0 345,000 0 1,045,000
15 Out 0 0 0 0 0 0 0 0 0
16
17 Cash w Fsal Agent 0 56,490 0 56,490 0 9 9 0 56,499
18
19 Appropriation
20 Personnel Costs (2,000) 0 0 (2,000) (600) 0 (600) (106,647) (109,247)
21 Downtown Devel Ctr (107,000) 0 0 (107,000) (43,000) 0 (43,000) 0 (150,000)
22 Legal Fees (20,000) 0 (1,825) (21,825) (12,000) 0 (12,000) (10,000) (43,825)
23 Contract/Material (66,843) 0 (51,520) (118,363) (55,581) 0 (55,581) (100,276) (274,220)
24 Administration (154,283) 0 (10,099) (144,382) (66,877) 0 (66,877) (69,771) (281,030)
25 Capital Projects (740,034) 0 0 (740,034) (684,025) 0 (684,025) (1,279,241) (2,703,300)
26 TOT Pass Thru 0 0 0 0 0 (250,000) (250,000) 0 (250,000)
27 Pass Thm's 0 (857,686) 0 (857,686) 0 (747,623) (747,623) 0 (1,605,309)
28 Housing Setaside 0 (663,260) 0 (663,260) 0 (445,967) (445,967) 0 (1,109,227)
29 ERAF 0 (74,528) 0 (74,528) 0 (56,223) (56,223) 0 (130,751)
30 Debt Service 0 (1,106,821) 0 (1,106,821) 0 (715,346) (715,346) (469,605) (2,291,772)
31 Conv Ctr Debt 0 0 0 0 0 (300,183) (300,183) 0 (300,183)
32 Loan Repayment 0 (700,000) 0 (700,000) 0 (345,000) (345,000) 0 (1,045,000)
33
34 Est Cash Bal (8,473) 719,130 385,972 1,096,629 176,910 402,605 579,515 1,068,577 2,744,721
35 6/30/03
Page 3 of 5
Teu Bunt
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 Dal '(8,473) 719,130 385,972 1,096,629 176,910 402,605 579,515 1,068,577 2,744,721
2 6/30/03
3
4 Revenue
5 Property Tax 0 3,586,000 0 3,586,000 0 2,381,000 2,3 11,000 0 5,967,000
6 Other 8,000 500 150,000 158,500 20,000 0 20,000 117,928 296,428
7 Setaside 0 0 0 0 0 0 0 1,147,187 1,147,187
8
9 Transfers
10 In-Debt Sew 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 700,000 0 0 700,000 300,000 0 300,000 0 1,000,000
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 (3,400) 0 0 (3,400) (3,100) 0 (5,100) (125,082) (131,582)
22 Downtown Devel Cur (107,000) 0 0 (107,000) (43,000) 0 (43,000) 0 (150,000)
23 Legal Fees (20,000) 0 (10,000) (30,000) (20,000) 0 (20,000) (10,000) (60,000)
24 Contract/Matetial (60,000) 0 (58,020) (118,020) (64,500) 0 (64,500) (59,660) (242,180)
25 Administration (138,107) 0 (9,110) (147,217) (69,031) 0 (69,031) (72,240) (288,488)
26 Capital Projects (400,000) 0 0 (400,000) (300,000) 0 (300,000) (1,225,000) (1,925,000)
27 TOT Pass Tluu 0 0 0 0 0 0 0 0 0
28 Pass Thm's 0 (881,499) 0 (881,499) 0 (789,260) (789,260) 0 (1,670,759)
29 Housing Seuaside 0 (687,041) 0 (687,041) 0 (460,146) (460,146) 0 (1,147,187)
30 ERAF 0 (228,000) 0 (228,000) 0 (172,000) (172,000) 0 (400,000)
31 Debt Service 0 (1,141,453) 0 (1,141,453) 0 (720,034) (720,034) (467,780) (2,329,267)
32 Conv Ctr Debt 0 0 0 0 0 (300,000) (300,000) 0 (300,000)
33 Loan Repayment 0 (700,000) 0 (700,000) 0 (300,000) (300,000) 0 (1,000,000)
34
35 Est Cash Dal (28,980) 667,637 1 458,842 1,097,499 (2,721) 42,165 39,444 373,930 1,510,873
36 6130/04
Page 4 of 5
COMMUNITY REDEVELOPMENT AGENCY
DESCRIPTION OF CAPITAL PROJECTS
REQUESTED BUDGET, FY 2003-04
Merged Area #1
Visitor Center Sewer Connection - This project would connect the City's new Visitor Center 100,000
to the closest sewer line 1,000 feet away. It would also create sewer service for a
significant piece of undeveloped land on North Palm Canyon Drive.
Radio/Del Sol Street Improvement- This project proposes the construction of streets, curbs 65,000
and gutters in the industrial area of Highland Gateway, following on the previous paving
project on Radio Road in that area.
Lighting Program-Added to this year's$104,500, the amount would allow the design and 107,000
construction of a new lighting and irrigation system in the North Palm Canyon Drive
area in the Heritage District. Up to $60,000 would be reimbursed over 5 years by
property owners purchasing the lights.
Sunny Dunes/SPC Median Island/Signal Relocation - Project would enhance the entryway 73,000
into South Palm Canyon area, south of downtown. Incentivize the replacement of
the Sizzler/cleaners/KFC with new attractive facility. Relate to the development of
mediand by Fairfield Resorts.
Street Light Powder Coating-This is a 3 year project of$60,000 per year to re-powder coat 55,000
the downtown light fixtures that have been damaged by weather, vandalism and abuse.
Total 400,000
Merged Area #2
Arenas Road Parking/Street Improvements-Agency contribution toward construction of 200,000
new parking spaces and street improvements on Arenas Road between Encilia and
El Segundo. Adjacent landowner would pay approximately $130,000. This
continues the street improvements on Arenas from 2001 and creates more long-term
downtown parking, as well as enhances the area.
Post Office Relocation -This is for the predevelopment costs of relocating the Post Office 25,000
as part of the Spa Hotel/Casino Expansion.
Unscheduled Capital Projects 75,000
Total 300,000
Low/Mod Housing
Sunset Hacienda-year 2 of 3 year agreement 250,000
Vista Serena Sewer Hookup- HUD Section 202 is still on septic tanks 125,000
Desert Highland Infill 300,000
Unscheduled Capital Projects 550,000
Total 1,225,000
Page 5 of 5
NOTICE OF PUBLIC HEARING
CITY OF PALM SPRINGS
COMMUNITY REDEVELOPMENT AGENCY
PROPOSED BUDGET SUMMARY
FISCAL YEAR 2003-2004
Below is the proposed 2003-2004 fiscal year budget in summary form. The supporting detail for
the proposed budget is available at City Hall in the City Clerk Department 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 4, 2003, in the Council Chamber at
City Hall, 3200 E. Tahquitz Canyon Way, Palm Springs, CA.
PROJECT CAPITAL DEBT
PROJECTS SERVICE
Merged Area#1 $ 728,507 $ 3,637,993
Merged Area#2 499,631 2,741,440
Low& Moderate Income Housing 1,491,982 467,780
Plaza Theatre 77,130 0
TOTAL $ 2,797,250 $ 6,847,213
Written comments regarding the proposed budget may be submitted to the City Council prior to
the June 4 h public hearing or persons may speak at the meeting.
Dated this 21th day of May 2003.
Thomas M. Kanarr
Finance Department
City of Palm Springs, California
Publish May 24, 2003
fro 1
PROOF OF PUBLICATION <
This is space for County Clerk's Filing Stamp
(2015.5.C.C.P)
STATE OF CALIFORNIA
County of Riverside
------------------------------------------
I am a citizen of tile United States and a resident of
the County aforesaid;I am over the age of eighteen Proof of Publication of
years,and not a party to or interested in the _ - ---`-----'-
above-entitled matter.I am the principal clerk of a
printer of the,DESERT SUN PUBLISHING Nc.46i 1
NOTICE F PUBLIC REARING
SPRINS
COMPANY a newspaper of general circulation, COMMUNITY REDEVEILOPMENT AGENCY
printed and published in the city of Palm Springs, PROPOSED BUDGET SUMMARY
County of Riverside,and Which newspaper has been FISCAL YEAR 2003-2004
bud-
adjudged ed a Below Is the proposed 200 s=,fiscal year bud-
J g newspaper of general circulation by the et in summary form. The supponinq detail for
the proposed budget is available at City Hall in
Superior Court Of the County of Riverside,State of the Office of the City Clerk and the Library Cen-
Cali£ornia under the date of March 24,1988.Case ter. A public hearing on the proposed budget will
be held at a regular meeting of the Communi ,
Number 19123fi; that the notice,Of which the Redevelopment Agency at 7:00 m. on June 4
annexed is a printed copy(Set in type not smaller 2003, 9 the Canyon
C]bomberlm 5 tinge CA 3200
E. Tali uitz Can on Way, p
than non pariel,has been published in each regular PROJECT CAPITAL DEBT
and entire issue of said newspaper and not in any PROJECTS SERVICE
supplement thereof on the following dates,to wit: Merged Area az $728,507 $3 637,993
Low & Moderate Income
Housing 1,491,932 467,780
May 24th I Plaza Theatre 77,130 0
TOTAL $2,797,250 $6,847,213
Written comments regardmq the proposed budget
may be submitted to the Community Redevelop-
___________________ ment Agency prior to the June 4th public hearing
---------------------------------___- cr persons may speak at the meeting.
All in the year 2003 Dated this 21st day of May 2003.
I certify(or declare)under penalty of perjury that the Thomas M. Kanarr
foregoing is true and correct. Finance De artment
0 City of Palm Springs, California
28 Pub: May 24, 2003
Dated at Palm Springs,California this---------day .
May
of-------------- 2003
Signature
RESOLUTION NO.
OF THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF PALM
SPRINGS, CALIFORNIA, APPROVING A
BUDGET FOR THE FISCAL YEAR 2003-2004
WHEREAS, a budget for the fiscal year 2003-2004 has been prepared by the
Community Redevelopment Agency, Redevelopment Director, and the Agency
Treasurer; and
WHEREAS, the Community Redevelopment Agency has examined said budgets and
conferred with the Community Redevelopment Agency Director; and
WHEREAS, the Community Redevelopment Agency, after due deliberation and
consideration, agrees with the budget recommended;
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 $9,649,104 be approved for the
following purposes:
Capital &Admin. Debt Service
Merged Area No. 1 $ 728,507 $ 3,637,993
Merged Area No. 2 499;631 2,741,440
Low& Mod. Income Housing 1,496,623 467,780
Plaza Theatre 77,130 0
$2,801,891 $ 6,847,213
Section 2. That the budget for the Debt Service for the 1994 Series A & B bond
issue, which amount is already included in the above Merged Areas debt
service, is $1,682,465; and is budgeted as an accounting control only.
Section 3. 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.
ADOPTED this day of 2003.
AYES:
NOES:
ABSENTS:
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CALIFORNIA
By
Assistant Secretary Chairman
REVIEWED &APPROVED