HomeMy WebLinkAbout3/20/2002 - STAFF REPORTS (2) DATE: MARCH 20, 2002
TO: COMMUNITY REDEVELOPMENT AGENCY
FROM: REDEVELOPMENT DIRECTOR
APPROVAL OF A BUDGET RESOLUTION WITHIN THE PLAZA THEATRE FUND
(FUND 821) TO COVER UNANTICIPATED LEGAL COSTS INCURRED IN THE
RESOLUTION OF THE "ALLEY' DISPUTE WITH ADJACENT PROPERTY OWNERS
RECOMMENDATION:
It is recommended that the Agency approve a Budget Resolution appropriating $11,500
from Fund Balance in the Plaza Theatre account(Fund 821).
SUMMARY:
Staff recommends the appropriation of$11,500 from Fund Balance to the Plaza Theatre
account(Fund 821) to cover unanticipated legal costs in the negotiation of a lease with the
neighboring property owner for the alley behind the theatre. The space is used by the
Follies for the storage of its sets, but is owned by Plaza Investments, not the Agency, and
has an easement across it by Wessman Development Company. The three-way
negotiation, and the threat of fire-code and building-code violations, took a considerable
amount of attorney time before its successful resolution in December.
Funds are available in the Plaza Theatr fund balance.
OHN S RAYM D
re of Com nity & Economic Development
�APPROVEo�=
Executive Director
ATTACHMENTS:
1. Budget Resolution
REVIEWED BY DEPT.OF FINANCE
RESOLUTION NO.
OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF PALM SPRINGS, CALIFORNIA, AMENDING THE
BUDGET FOR THE 2001-02 FISCAL YEAR.
WHEREAS Resolution 1126 approving the budget for the fiscal year 2001-02 was adopted
on June 6, 2001; and
WHEREAS the Executive Director has recommended, and the Agency desires to approve,
certain amendments to said budget;
NOW THEREFORE BE IT RESOLVED that the Director of Finance is authorized to record
inter-fund cash transfers as required in accordance with this Resolution, and that Resolution
1126, adopting the budget for the 2001-02 fiscal year is hereby amended as follows:
SECTION 1. ADDITIONS
FUND Activity Account Amount
821 8199 43220 $11,500
Purpose: To cover unanticipated legal cost incurred negotiating lease of "Alley" for Palm
Springs Follies.
SECTION 2. SOURCE
FUND Activity Account Amount
821 29301 $11,500
Fund Balance
Adopted this day of , 2002
AYES:
NOES:
ABSENT:
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS
By
Assistant Secretary Chairman
REVIEWED AND APPROVED AS TO FORM