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HomeMy WebLinkAbout5/15/2002 - STAFF REPORTS (39) CITY OF PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY PRELIMINARY BUDGET FISCAL YEAR 2002 - 03 May 8, 2002 r . CRATEMP COMMUNITY REDEVELOPMENT AGENCY 4/30/02 SUMMARY BY PROJECT AREA MERGED AREA#1 MERGED AREA#2 HOUSING TOTAL CAPITAL DEBT SERV PLAZA TOTAL CAPITAL DEBT SERV TOTAL 811 851 821 812 852 882 Ad Cash Bat 6/30/01 100,378 565,813 535,025 1,201,216 652,537 867,778 1,520,315 3,230,251 5,951,782 FISCAL YEAR 2001-02 Revenue 15,000 3,276,000 160,000 3,451,000 20,000 2,455,000 2,475,000 127,928 6,053,928 Set Aside 0 0 0 0 0 0 0 1,096,496 1,096,496 Transfers 128,000 0 0 128,000 0 0 0 0 128,000 Loans 616,785 0 0 616,785 100,000 0 100,000 0 716,785 Cash w Fiscal Agent 0 0 0 0 0 0 0 0 0 Appropriation (821,417) (3,373,S43) (402,600) (4,597,560) (394,101) (2,476,717) (2,870,818) (3,338,145) (10,806,529) Est Cash Bat6130102 38,746 468,270 292,425 799,441 378,416 846,061 1,224,497 1,116,530 5,140,468 FISCAL YEAR 2002.03 Revenue 15,000 3,406,000 160,000 3,581,000 20,000 2,553,000 2,573,000 117,928 6,271,928 Sec Aside 0 0 0 0 0 0 0 1,139,421 1,139,421 Transfers 0 0 0 0 0 0 0 0 0 Loans 700,000 0 0 700,000 400,000 0 400,000 0 1,100,000 Cash w Fiscal Agent 0 0 0 0 0 0 0 0 0 Appropriation (811,043) (3,535,416) (63,444) (4,409,903) (653,977) (2,845,219) (3,499,196) (1,295,717) (9,202,816) Est Cash Bat 6/30/03 (57,297) 338,854 388,981 670,538 144,459 553,842 698,301 1,080,162 2,449,001 e q.urlrlunl1,Y KbDE.VELOPMENj• ALOrna.r SUMMARY BY PROJECT AREA REVISED BUDGET, FY 2001-02 MERGED AREA#1 MERGED AREA#2 HOUSING TOTAL CAPITAL DEBT SRV PLAZA TOTAL CAPITAL DEBT SRV TOTAL 811 851 821 812 852 882 Atli Cash hal 100,376 565,813 535,025 1,201,216 652,537 667,778 1,520,315 3,230,251 5,951,782 6/30/01 Revenue Property Tax 0 3,275,000 0 3,275,OD0 0 2,455,000 2,455,000 0 5,730,000 Other 15,000 1,000 160,000 176,000 20,000 0 20,000 127,928 323,928 Seaside 0 0 0 0 0 0 0 1,096,496 1,096,496 Transfers In-Debt Sery Rev 0 0 0 0 0 0 0 0 0 In-Other 128,000 0 0 128,000 0 0 0 0 128,000 Out 0 0 0 0 0 0 0 0 0 Loans In 616,785 0 0 616,785 100,000 0 100,000 0 716,785 Out 0 0 0 0 0 0 0 0 0 Cash w Fiscal Agent 0 0 0 0 0 0 0 0 0 Appropriation Personnel Costs (900) 0 0 (900) (600) 0 (600) (95,512) (97,012) Downtown Dave]Ctr (107,000) 0 0 (107,000) (37,D00) 0 (37,000) 0 (144,000) Legal Fees (10,000) 0 (13,325) (23,325) (2,000) 0 (21000) (10,000) (35,325) Cwwacs/Mausial (113,288) 0 (51,520) (164,808) (99,210) 0 (99,210) (48,489) (312,507) Administration (133,172) 0 (8,255) (141,427) (61,818) 0 (61,818) (92,488) (295,733) Capital Pro)ects (457,057) 0 (329,500) (786,557) (193,473) 0 (193,473) (2,635,886) (3,615,916) TOT Pass Thm 0 0 0 0 0 (280,000) (280,000) 0 (280,000) Pass Thm's 0 (955,311) 0 (955,311) 0 (752,346) (752,346) 0 (1,707,657) Housing Setadde 0 (626,066) 0 (626,066) 0 (470,430) (470,430) 0 (1,096,496) Debt Service 0 (1,175,381) 0 (1,175,381) 0 (873,941) (873,941) (455,770) (2,505,092) Loan Repayment 0 (616,785) 0 (616,785) 0 (100,000) (100,000) 0 (716,785) Esc Cash Bal 38,746 466,270 292,425 799,441 378,436 846,061 1,224,497 1,116,530 3,140,466 6130102 r r 2- COMMUNITY REDEVELOPMENT AGENCY SUMMARY BY PRO]ECT AREA PROPOSED BUDGET, FY 2002-03 MERGED AREA#1 MERGED AREA#2 HOUSING TOTAL CAPITAL DEBT SRV PLAZA TOTAL CAPITAL DEBT SRV TOTAL 811 851 821 812 852 882 Esc Cash Bal 38,746 468,270 292,425 799,441 578,436 946,061 1,224,497 1,116,530 3,140,468 6/30/02 Revenue property Tax 0 3,405,000 0 3,405,000 0 2,553,000 2,553,000 0 5,958,000 Other 15,000 1,000 160,000 176,000 20,000 0 20,000 117,928 313,928 Setaside 0 0 0 0 0 0 0 1,139,421 1,139,421 Transfers In-Debt Sew Rev 0 0 0 0 0 0 0 0 0 In-Other 0 0 0 0 0 0 0 0 0 Out 0 0 0 0 0 0 0 0 0 Loans In 700,000 0 0 700,000 400,000 0 400,000 0 1,100,000 out 0 0 0 0 0 0 0 0 0 Cash w Mcal Agent 0 0 0 0 0 0 0 0 0 Appropriation Personnel Costs (900) 0 0 (900) (600) 0 (600) (106,481) (107,981) Downtown Devel Ctr (107,000) 0 0 (107,000) (43,000) 0 (43,000) 0 (150,000) Legal Fees (20,000) 0 (1,825) (21,825) (2,000) 0 (2,000) (10,000) (33,825) Contract/Material (44,360) 0 (51,520) (95,880) (41,500) 0 (41,500) (41,860) (179,240) Administration (134,283) 0 (10,099) (144,382) (66,877) 0 (66,877) (69,771) (281,030) Capital project (504,500) 0 0 (504,500) (500,000) 0 (500,000) (600,000) (1,604,500) TOT Pass Thm 0 0 0 0 0 (280,000) (280,000) 0 (280,000) Pass Thm's 0 (1,047,038) 0 (1,047,038) 0 (811,333) (811,333) 0 (1,858,371) Housine Serasidc 0 (650,881) 0 (650,881) 0 (488,540) (488,540) 0 (1,139,421) Debt Service 0 (1,137,497) 0 (1,137,497) 0 (865,346) (865,346) (465,605) (2,468,448) Loan Repayment 0 (700,000) 0 (700,000) 0 (400,000) (400,000) 0 (1,100,000) Esc Cash Bal (57,297) 338,854 388,981 670,538 144,459 553,842 698,301 1,080,162 2,449,001 6130103 r r 2002-03 BUDGET REQUEST -'FUND 811 - MERGED AREA#1 4/30/2602 DEPT 8191 -CAPITAL&ADMIN _ 2001-02 2001-02 2002-03 Budget Projection Request REVENUE ESTIMATES 36101 Interest Income 20,000 8,500 15,000 36105 Building Rental o 0 0 37113 Misc 0 6,500 0 New Loan from Gen Fund 400,000 616,785 700,000 Transfer From Parking Fund I 0 128,000 0 Total Revenue Estimates 4201000 759,785 715,000 MATERIALS, SUPPLIES &SERVICES 40400 Agency Member Compensation 900 900 900 42000 Utilities 1,500 1,500 1,500 42570 Printing and Publishing 0 0 5,000 42720 Building Rental 10,500 10,500 10,500 43050 Building Repairs 4,000 4,000 4,000 43200 Contractual Services a Downtown Devel-J Ogbum 107,000 107,000 107,000 (a) Misc 0 86,928 13,000 43220 Contractual Legal 10,000 10,000 20,000 43250 Auditing 7,000 7,000 7,000 43806 Newsletter 3,360 3,360 3,360 Total Materials, Supplies&Services 144,260 231,188 172,260 SPECIAL CHARGES 49010 Administrative 28,777 28,777 29,888 49060 CRA Admin Service 104,395 104,395 104,395 Total Special Charges 133,172 133,172 134,283 CAPITAL PROJECTS 50000 1 Unscheduled Capital Projects 0 0 400,000 50172 Plaza Mercado Parking 0 128,000 0 65106 Commercial Rehab _ 0 703 0 65116 Uptown Lighting 0 2,599 104,500 65127 Rudnick Bldg Demo 0 239 0 65128 Palm Tree Well Raising 2,500 0 0 65131 E Palm Canyon Light Fixtures 0 9,557 0 65133 F Stevens Park Sidewalk _ 0 5,100 0 651341 Radio Road Improvement 33,000 43,859 0 65136 Uptown Decorative Lights 42,000 42,000 0 65139 F Stevens Art Academy 351000 35,000 0 65142 Stevens/NPC DDA 0 5,000 0 xxxxx Desert Shadow 0 185,000 0 Total Projects 112,500 457,057 1 504,500 Total Budget Request 389,932 821.417 811,043 Net 30,068 (61,632)1 (96,043 r 4uuz-us JU,aC r KCldUta l rUND s51 - MERGED AREA#1 4/30/2002 SUMMARY- DEBT SERVICE 2001-02 2001-02 2002-03 Budget Projection Request REVENUE ESTIMATES 31101 lCurrent Year Taxes 2,6402000 3,275,000 3,405,000 361021 Interest Income Fiscal Agent `2,000 1,000 1,000 37113 Misc Revenue 0 0 0 Total Revenue Estimates 2,642,000 3,276,000 3,406,000 DEBT SERVICE 49620 Principal 245,00a 245,000 280,000 49625 Pay Off Loan From General Fund 471,383 688 6868 713,386 49626 Loan Payment Credit (450,000) (450,000) 450,000) 49640 Interest 1,151,971 1,151,971 1,126,902 49645 City Loan Interest IN,209 124,209 134,391 49646 Low/Mod Interest 32,818 32,818 32,818 65002 Superintendent of Schools 6,416 8,867 9,183 65003 Flood Control 29,344 35,998 37,449 65004 Mosquito Abatement Pass Thru 9,586 12,254 12,802 65005 Cemetary District Pass Thru 1,027 1,318 1,371 65006 PS Unified School District 41,145 56,862 58,887 65007 COD Pass Thru 11,792 16,294 16,878 65008 Desert Water Agency Pass Thru 121,372 152,554 161.990 65009CountyofRiverside 255,727 306.266 314,756 65010 Riverside County Admin Fee 40.440 49,398 52,722 65012 Low Mod Housing Pass Thru 505.495 626,066 650,881 65014 Palm Mountain Resort 135,000 135,000 140,o00 65100 Assessment District Assistance 31,500 1 31,500 32,000 65112 EDIZ Tax Rebate 4,000 4,000 4,000 651241 VIP Motors OPA 100,000 100,000 160,000 65125 MacGruder OPA 25,000 25,000 25,000 65138 Wessman OPA 20,000 20,000 20,000 Total Debt Service 2,913,225 3,373,543 3,535,416 Net Revenue less Ex enses (271,225) (97,543)1 (129,416 r r 29o2-03 6UUut I Rkwl-jt i 1 FUND 821 - PLAZA THEATRE 4/30/2002 DEPT 8199- PLAZA THEATRE ` 2001-02 2001-02 2002-03 Budget Projection Request REVENUE ESTIMATES 36101 Interest Income 25,000 20,000 20,000 36105 Building Rental 140,000 140,000 140, 000 37113 Misc Revenue 0 0 0 Total Revenue Estimates 165,000 160,000 160,000 MATERIALS, SUPPLIES &SERVICES 42000 Utilities 7,020 -' 7,020 7,020 42705 Land Leases 0 8,000 8,000 43050 Building Repairs 13,000 6,500 6,500 43200 Contractual Services (a) Downtown Devel-J Ogqum 0 0 0 (b Misc 30,000 30,000 30,000 43220 Contractual Legal 1,825 13,325 1,825 (a) Rutan &Tucker 43960 Property Tax 13,000 0 0 Total Materials, Supplies&Services 64,845 64,845 53,345 SPECIAL CHARGES 49010 Administrative 6,152 6,152 8,047 49040 Facilities Maintenance 2,103 2,103 f2.02Total S ecial Charges 8,255 8,255 9 CAPITAL PROJECTS 65137 ff Frank Arcade Lot 265,000 329,500 0 Total Projects 255,060 329,500 0 Total Budget Request 338,100 402,600 63,444 Net (173,100) (242,600) 96,556 r r DEPT 8192- CAPITAL&ADMIN 2001-62 2001-02 1 2002-03 Budget Projection Request REVENUE ESTIMATES 361011 Interest Income 25,000 20,000 20,000 37113 Misc 0 0 0 New Loan from Gen Fund 100,000 100,000 400,000 Total Revenue Estimates 125,000 120,000 420,000 MATERIALS, SUPPLIES &SERVICES 40400 Agenc Member Compensation 600 600 600 42720 Building Rental 4,500 4,500 4,500 43200 Contractual Services (a) Downtown Devel-J Ogbum 37,000 37,000 43,000 (b) Misc 244,000 91,710 34.000 43220 Contractual Legal 2,000 2,000 2,000 43250 Auditing 3,000 3,000 3,000 Total Materials, Supplies&Services 71,100 138,810 87,100 SPECIAL CHARGES 49000Insurance 0 0 0 49010 Administrative 9,746 9,745 14,805 49060 CRA Admin Service 52,072 52,072 52,072 Total Special Charges 61,818 61,818 66,877 CAPITAL PROJECTS 50000 Unscheduled Capital Projects 100,000 85,000 500,000 65109 Ralph's Market 0 0 0 65130 E Tahquitz Light Fixtures 0 108,4 3 - 0 Total Capital Projects 100,000 193,473 500,000 Total Budget Request 232,918 `394.101 653.977 Net (107,918) (274,101)1 (233,977 r r 20uz-u3 wuw c 1 Mf--QUtQ I rUIN V oat- IVIGRULU AM-A 1f 2 4/3U/;tUUL SUMMARY- DEBT SERVICE 2001-02 2001-02 2002-03 Budget Projection Request REVENUE ESTIMATES 31101 Current Year Taxes 2,000,000 2.455,000 2,553,000 36102 Interest Income Fiscal Agent 0 0 0 Transfer In from Comm Prom 0 0 0 Total Revenue Estimates 2,0002000 2,455,000 2,553,000 DEBT SERVICE - 49620 Principal 90,000 00,000 90,000 49625 Pay Off Loan from Gen Fund 100,000 100.000 400,000 49640 Interest 550,081 550,081 541,486 49645 City Loan Interest 84,860 83,860 83,860 49690 Other Debt Service 150,000 150,000 150,000 65002 Superintendent of Schools 16,537 19,310 20,058 65003 Flood Control 72,556 90,433 97,063 65004 Mosquito Abatement Pass Thru 15,830 19,279 20,392 65005 Cemetary District Pass Thru 309 333 346 65006 PS Unified School District 93,049 109,804 114,069 65007 COD Pass Thru 26,669 31,469 32,694 65008 Desert Water Agency Pass Thru 92,789 111,098 118,842 65009 County of Riverside 273,383 333,319 368.297 65010 Riverside County Admin Fee 30,623 37,301 39,572 65011 TOT Rebate 280,000 280.000 280,000 65012 Low Mod Housing Pass Thru 382,781 470,430 488,540 Total Debt Service 2,259,467 2,476,717 2,845,219 Net Revenue Less Expenses (259,46 (21,71 292,219 r r Zl iL-us JIJht�I RItQUta I FUNIJ 062- LOW/MOD HOUSING 4/30/2002 DEPT 8382- LOW/MOD HOUSING 2001-02 2001-02 1 2002-03 Budget Projection Re uest REVENUE ESTIMATES 39900 Current Year Taxes 888,276 1.096,496 1,139,421 36101 Interest Income 75,400 75,000 75,000 36104 Land Rental 41,928 41,928 41,928 37105 Contrib Non Govt 0 11,000 1,000 Total Revenue Estimates 1,005,604 1,224,424 1,257,349 PERSONNEL 40000 Regular Employees 70,401 70,401 .78,228 40200 Temporary Employees 5,000 5,000 5,000 40400 Agency Member Compensation 500 500 500 41600 PERS 4,928 4,928 6,258 41700 Medicare Tax 1,165 1,165 1,298 41800 FICA 310 310 310 41900 Fringe Benefits 13.208 13,208 11,864 41920 Workers Compensation 0 0 3,023 Total Personnel 95.512 95,512 106,481 MATERIALS, SUPPLIES &SERVICES 42100 Ofoe Supplies 1,000 1,000 1,000 42500 Travel &Training 1,500 2,500 1,500 42530 Dues&Subscriptions 200 200 200 42570 Printing and Publishing 300 300 300 42720 Building Rental 1,500 1,500 1,500 43200 Contractual Services 30,000 35,629 30,000 43220 Contractual Legal 10,000 10,000 10,000 43250 Auditing 800 800 1 800 43960 Property Tax 3,200 3,200 3,200 43806 Newsletter 3.360 3,360 3,360 Total Materials, Supplies&Services 51,860 58.489 51,860 SPECIAL CHARGES 49000Insurance 4.322 4,322 4,940 49010 Administrative 46,568 46,568 23,233 49060 CRAAdmin Service 41,598 41,598 41,598 Total Special Charges 92,488 92,488 69,771 DEBT SERVICE 49620 Principal 125,000 125.000 195,000 49640l1rest 382,024 330,770 270,605 Total Debt Service 507,024 455,770 465,605 CAPITAL PROJECTS 50000 Capital Projects 300,000 150,000 100,000 65000 Relocation Assistance 0 34,929 0 65107 Section 202 Senior 0 31,870 0 65121 Cottonwood 0 188,500 0 65122 SFR Rehab 0 851,264 0 65126 Heritage Trail Apt OP A 0 314,114 0 65135 Burnett Development DDA 0 15,209 0 65140 Garden Springs OPA _ 0 500,000 500,000 65141 ffSaharaMopb _0 _ 1503000 0 �oocxxome Park _ _ 400,000 rt 300,000 2,635,886 600,000 Total Budget Request 1,045,884 3,338.145 1,293,717 Net (41,280) (2,113,721 36,368 � creplan COMMUNITY REDEVELOPMENT AGENCY tpa3 HISTORY OF ASSESSED VALUATION f£PROPERTY TAX INCREMENT COLLECTIONS 4125102 Merged Area#1 Merged Area#2 Total AV Base AV Increment AV Property Tax Total AV Base AV incrementAV Property Tax FY94-95 546,147,058 334,391,815 211,765,243 2,262,380 347,479,600 1B2,212,BD3 165,266,797 1,760,540 FY95-96 533,400,937 334,391,816 199,009,122 2,250,315 346,701,469 182,212,803 164,488,666 1,767,668 FY96-97 533,0i6,375 334,391,815 198,624,560 2,130,348 329,797,828 182,212,803 147,585,025 1,507,952 FY97-08 513,041,546 334,391,815 178,649,731 1,923,240 317,050,014 182,212,803 134,837,211 1,474,521 FY 98-09 t 513,203,489 334,391,615 178,811,674 1,897,346 331,138,65E 182,212,803 148,925,855 1,618,574 FY99.00 554,672,513 334,391,815 220,280,698 2,388,133 300,764,562 182,212,803 118.551,779 1,289,457 FY DO-01 569,359.409 334,391,815 234,967,594 2,506,991 364,587,724 182,212,803 182,374,921 1.863,104 FY 01-02 638,944,716 334,391,816 304,552,901 3,186,256 409,765,511 182,212,8D3 227,652,708 2.387,259 FY 02-03 675,000,000 334,391,815 340,608,185 3,405,ODO 435,000,000 162,212,803 252,787,197 2,553,000 Combined Merged Areas FY9495 893,626,658 516,604,618 377,022,040 4,022,920 FY 95 96 880,102,406 516,604,618 363,497,788 4,017,983 FY96-97 862,814,203 516,604,618 346,209,585 3,638,300 FY97-08 830,091,560 516,604,618 313,486,942 3,397,781 FY 98-99 844,342,147 516,604,618 327,737,529 3,515,920 FY 99-00 865,437,095 516,604,618 338,832,477 3,677,590 FY DO-01 933,947,133 516,604,618 417,342,515 4,370,095 FY01-02 1.048,710,227 516,604,618 532,i05,609 5,573,615 FY02-03 1,110,0D0,000 516,604,618 593,395,382 5,958,000 Merged Area 1 is comprised of Central Business District, Oasis, N. Palm Carryon, Highland Gateway, RamWSogie, S. Palm Canyon, and City-Wide Project Areas(Nos, 1,3,4,6,8,7,and 9). Merged Area 2 is comprised of Tahquit?JAndreas, Badsto/Farrell, and Canyon Project Areas(Nos.2,8, &10). O