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Home My WebLink About06-04 RDA Resolution I I I RESOLUTION NO. RDA 06-04 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE TEMECULA REDEVELOPMENT AGENCY OF THE CITY OF TEMECULA ADOPTING THE FY 2006-07 ANNUAL OPERATING BUDGET AND ESTABLISHING CONTROLS ON CHANGES IN APPROPRIATIONS THE BOARD OF DIRECTORS OF THE TEMECULA REDEVELOPMENT AGENCY OF THE CITY OF TEMECULA DOES HEREBY RESOLVE AS FOLLOWS: Section 1. That the FY 2006-07 RDA operating budget is hereby adopted, in the form attached as Exhibit A. Section 2. That the following controls are hereby placed on the use and transfers of budget appropriations: A. No expenditure of funds shall be made unless there is an unencumbered appropriation available to cover the expenditure. B. The Department Director may prepare a transfer of appropriations within departmental budget accounts, with the approval of the Executive Director. C. from the accounts. The Agency Members must authorize transfers (appropriations) of funds Unreserved Fund Balance and transfers between departmental budget D. The Agency Members must authorize any increase in regular personnel positions above the level indicated in the final budget. The Executive Director may authorize the hiring of temporary or part-time staff as necessary within the limits imposed by the controls listed above. E. The Executive Director may authorize expenditures of funds in amounts up to $25,000. Any expenditure of funds in excess of $25,000 requires Agency Member action. F. The Executive Director may authorize Public Works contracts in amounts up to $25,000. Any expenditure of Public Work funds in excess of $25,000 require Agency Member action, except that the Executive Director may approve change orders on Public Works contracts approved by the Agency Members in amounts up to project contingency established by the Agency Members. Section 3. Outstanding encumbrances shown on the Agency books at June 30,2006, are hereby appropriated for such contracts or obligations for FY 2006-07. R:/RDA Resos 2006lRDA 06-04 I I I Section 4. The Agency hereby finds and determines that the planning and administrative expenses to be paid from 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. Section 5. The Agency Secretary shall certify adoption of the resolution. PASSED, APPROVED, AND ADOPTED by the Board of Directors of the Temecula Redevelopment Agency of the City of Temecula this 13th day of June, 2006. ATTEST: [SEAL] R:/RDA Resos 2006/RDA 06-04 2 I I I STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss CITY OF TEMECULA ) I, Susan W. Jones, MMC, City Clerk/Board Secretary of the Temecula Redevelopment Agency of the City of Temecula, do hereby certify that the foregoing Resolution No. RDA 06-04 was duly and regularly adopted by the Board of Directors of the Temecula Redevelopment Agency of the City of Temecula at a meeting thereof held on the 13th day of June, 2006, by the following vote: AYES: 4 BOARD MEMBERS: NOES: 0 BOARD MEMBERS: ABSENT: 1 BOARD MEMBERS: ABSTAIN: 0 BOARD MEMBERS: R:/RDA Resos 2006lRDA 06-04 Comerchero, Edwards, Washington, Naggar None Roberts None 3 I .~.r~~.'~ I I Exhibit A FISCAL YEAR 2006-07 - ,.... --'.~'. OPERATING BUDGET REDEVELOPMENT AGENCY TEMECULA REDEVELOPMENT AGENCY SUMMARY OF REVENUES, EXPENDITURES, AND CHANGES IN FUNDBALANCES FY2006.2007 PROPOSED OPERATING BUDGET TEMECULA REDEVELOPMENT AGENCY 5UMMARY OF REVENUES, EXPENDITURES, AND CHANGE IN FUND BALANCES Proposed 2006-2007 Preliminary Operating Budget 2004-05 2005-06 2006-07 Proposed % Audited Revised Preliminary Increase Increase Acluals BudDet BudDet (Decrease) (Decrease) Total Revenues by Fund:' low/Moderate Income Housing 2,994,247 3,383,203 3,093,210 (289,993) -8.6% Redevelopment 1,391,824 2,139,060 2,843,000 703,940 32.9% Debt Service 10.178.798 11.869.533 11.328.840 (540.693) -4.6% Total Revenues 14.564.869 17.391.796 17.265.050 (126.746) Total Non-(IP Expenditures by Fund: low/Moderate Income Housing 1.099,884 1,092.133 1,016,418 (75,715) -6.9% Redevelopment 1,435,741 900.658 (535,083) -37.3% Debt 5ervice 9.699.519 12.241.295 9.796.720 (2.444.575) -20.0% I Total Expenditures 10.799.403 14.769.169 11.713.796 (3.055.373) Excess of Revenues Over (Under) ** Expenditures 3.765,466 2,622,627 5.551,254 Other Rnandng Sources: Transfers In (Out) (5.975.010) (2.800.000) Excess of Revenues and Other Rnandng Souroes Over (Under) Expenditures (2.209.544) 2.622.627 2.751.254 * Transfer of $2,800,000 is induded between these funds ** Excess revenues over expenditures are programmed and budgeted in the Capital Improvement Program. I CITY COUNCIL MEETING' JUNE 13, 2006 1 TEMECULA REDEVELOPMENT AGENCY SUMMARY OF REVENUES, EXPENDITURES, AND CHANGES IN FUNDBALANCES FY2006.2007 PROPOSED OPERATING BUDGET TEMECULA REDEVELOPMENT AGENCY SUMMARY OF REVENUES. EXPENDITURES. AND CHANGE IN FUND BALANCES Proposed 2006-2007 Preliminary Opera~ng Budget RDA LOW/MOD HOUSING FUND 2004-05 . 2005-06 2006--07 Proposed % Audited Revised Preliminary Increase Increase Acluals BudDet Budoet (Decrease) (Decrease) Total Revenues 2,994,247 3,383,203 3,093,210 (289,993) -8.6% Total Expenditures 1.099.884 1.092.133 1.016.418 (75.715) -6.9% Excess of Revenues Over (Under) Expenditures 1,894,363 2,291,070 2,076.792 (214,278) Operating Transfers Out I Excess of Revenues Over (Under) Expenditures and Opera~ng Transfers Out 1,894,363 2,291,070 2,076,792 (214.278) Fund Balance, Beg. of Year 8.528.701 10.423.064 12.714.134 Fund Balance, End of Year 10.423.064 12.714.134 14,790.926 * CIP project budgets are not yet induded on this summary sheet I CITY COUNCIL MEETING' JUNE 13, 2006 2 I TEMECULA REDEVELOPMENT AGENCY SUMMARY OF REVENUES, EXPENDITURES, AND CHANGES IN FUNDBALANCES FY2006.2007 PROPOSED OPERATING BUDGET TEMECULA REDEVELOPMENT AGENCY SUMMARY OF REVENUES. EXPENDITURES, AND CHANGE IN FUND BALANCES Proposed 2006-2007 Preliminary Operating Budget RDA CAPITAL PROJECTS FUND 2004-05 2005-06 2006-07 Proposed % Audited Revised Preliminary Increase Increase Acluals Budoet Budoet (Decrease) (Decrease) Total Revenues 1.391.824 2,139,060 2,843,000 703,940 32.9% Total Expenditures 1.435.741 900.658 (535.083) -37.3% Excess of Revenues Over (Under) Expenditures 1,391,824 703,319 1,942,342 1.239,023 Operating Transfers Out 5.975.010 2.214.656 (2.214.656) I Excess of Revenues Over (Under) Expenditures and Operating Transfers Out (4,583,186) (1,511,337) 1.942,342 (975.633) Fund Balance, Beg. of Year 8.601.025 4.017.839 2.506.502 Fund Balanoe. End of Year 4.017.839 2.506.502 4.448.844 * CIP project budgets are not yet induded on this summary sheet I CITY COUNCIL MEETING. JUNE 13, 2006 3 I, TEMECULA REDEVELOPMENT AGENCY SUMMARY OF REVENUES, EXPENDITURES, AND CHANGES IN FUNDBALANCES FY2006.2007 PROPOSED OPERATING BUDGET ......._,.~--" .._.'^~--..~.........",- TEMECULA REDEVELOPMENT AGENCY SUMMARY OF REVENUES, EXPENDITURES, AND CHANGE IN FUND BALANCES Proposed 2006-2007 Preliminary Operating Budget RDA DEBT SERVICE FUND 2004-05 2005-06 2006-07 Proposed % Audited Revised Preliminary Increase Increase Acluals BudDet BudQet (Decrease) (Decrease) Total Revenues 10,178,798 11,869,533 11,328,840 (540,693) -4.6% Total Expenditures 9.699.519 10.144,195 9.796,720 (347.475) -3.4% Excess of Revenues Over (Under) Expenditures 479,279 1,725,338 1,532,120 (193,218) -12.6% Operating Transfers Out (2,097.100) (2,800.000) (702.900) 1 Excess of Revenues Over (Under) Expenditures and Operating Transfers Out 479,279 (371,762) (1,267,880) (896.118) Fund Balance, Beg. of Year 1.269.122 1,748.401 1,376.639 Fund Balance, End of Year 1.748.401 1.376,639 108.759 I CITY COUNCIL MEETING' JUNE 13, 2006 4 I TEMECULA REDEVELOPMENT AGENCY REVENUES BY FUND Actual Actual Fs timated Projected FY2003~4 FY2004~5 FY 2005~6 FY 2006~7 Low/Moderate Incorre Set Aside $ 2,828,077 $ 2,994,247 $ 3,383,203 $ 3,093,210 Redevelopment. 483,589 371.724 2,139,060 2,843,000 Debt Service 9.780,485 10,178,798 11,869,533 11,328,840 Total $ 13.092,151 $ 14,564,769 $ 17,391,796 $ 17,265,050 *Does include operating transfers from Debt Service Fund of$2,800,OOO. FOUR-YEAR COMPARISON 1 518 516 514 512 510 .. c ~ ~ I 52 50 Actual FY 2003-64 estimated FY 2005-06 Projected FY 2006-07 Actual FY 2004-05 CITY COUNCIL MEETING. JUNE 13, 2006 5 TEMECULA REDEVELOPMENT AGENCY EXPENDITURE SUMMARY BY CATEGORY Operations Capital Fnnd Personnel & Maintenance Outlay Total Low/Moderate Income Set Aside $ 311,117 $ 705,301 $ 1,016,418 Redevelopment 174,353 574,697 151,608 900,658 Debt Service* 12,596,720 12,596,720 Total $ 485,470 $ 13,876,718 $ 151,608 $ 14,513,796 *Debt Service does include a $2,800,000 operating transfer to the Redevelopment Fund. 1 Low/MoDERATE INCOME SET ASIDE $1,016,418 REDEVELOPMENT $900,658 DEBT SERVICE $12,596,721 I CITY COUNCIL MEETING. JUNE 13, 2006 6 I I TEMECULA REDEVELOPMENT AGENCY COMPARATIVE SUMMARY BY FUND CITY COUNCIL MEETING. JUNE 13, 2006 7 TEMECULA REDEVELOPMENT AGENCY AUTHORIZED POSITIONS -""~-.".._....,....- Authorized Proposed Personnel Allocatiou 2005-06 Chan~es 2006-07 UlW/MOD HOUSING Director ofHous ing/Redevelopm::ut 0.75 0.00 0.75 Senior Managem::nt Analyst 0.75 0.00 0.75 Administrative Secretary 0.50 0.00 0.50 2.00 0.00 2.00 RlIDEVILOPMENr Director ofHousing/Redevelopm::nt 0.25 0.00 0.25 Senior Managem::nt Analyst 0.25 0.00 0.25 Administrative Secretary 0.50 0.00 0.50 1 Total 1.00 0.00 1.00 Department Total 3.00 0.00 3.00 I CITY COUNCIL MEETING' JUNE 13, 2006 8 1 1 I TEMECULA REDEVELOPMENT AGENCY ORGANIZATIONAL CHART DIRECTOR OF HOUSlNGIREDEVELOPMENT John Meyer HOUSING REDEVELOPMENT Temecula O.N.E. First Time Homebuyer Residential Improvement Programs Land Acquisition Affordable Housing Project Development Capital Projects Old Town Specific Plan Implementation Community Liaison CITY COUNCIL MEETING' JUNE 13, 2006 9 I TEMECULA REDEVELOPMENT AGENCY PROGRAM GOALS, OBJECTIVES AND PERFORMANCE MEASURES ".."",.,.~. PROGRAM: HOUSING MISSION: The Housing Program is responsihle for the development, rehabilitation and preservation of private investment of affordable housing, removing blight, and promoting economic revitalization in the redevelopment project area 2005-2006 ACCOMPLISHMENTS: . Facilitate the implementation of the Owner Participation Agreement with D'A1ta Partners, LLC to develop, construct and operate ao affordable housing/retail building in Old Town. Analyzed development potential of mixed-use development for application in existing commercial centers and Old Town. Amend the Disposition and Development Agreement with Habitat for Humanity to construct two additional affordable houses in the Pujol neighborhood. . . GOAL I: PROVIDE QUALITY HOUSING OPPORTUNITIES FOR LOW AND MODERATE INCOME FAMILIES AND TO EXPAND THEIR AVAILABILITY I. OBJECTIVES: ~ Ensure compliance with State Redevelopment Law ~ Monitor existing affordable housing covenants ~ Administer the First Time Homebuyer, Employee Relocation Programs and Residential Improvement Program ~ Acquire land and develop projects to support new affordable housing opportunities }o> Encourage private investment in the expansion of affordable housing ~ Partner with non-profit and for-profit developers to construct affordable family and senior housing . Projected Actual Projected Projected PERFORMANCE MEASURES: FV 2004~n~ FV 2004-05 FV 2005-06 FV 2006-07 Number of additional affordable housing 30 66 39 79 units provided Number of affordable housing units 55 64 55 55 rehabilitated Number of first time homebuyers assisted 10 0 2 2 Number of employee relocation homebuyers 2 0 2 2 assisted I Number of specialized homebuyer programs4 4 0 4 2 CITY COUNCIL MEETING' JUNE 13, 2006 10 1 TEMECULA REDEVELOPMENT AGENCY PROGRAM GOALS, OBJECTIVES AND PERFORMANCE MEASURES PROGRAM: REDEVELOPMENT MISSION: The Redevelopment Program is responsible for encouraging tbe development and revitalization of the Old Town District and overall project area. 2005-2006 ACCOMPLISHMENTS: . Continued implementation of the Old Town Improvement Program Funded 7 facade improvement projects Analyzed development potential of mixed-use development for application in existing commercial centers and Old Town Completed Acquisition of property for Old Town Parking/Civic Center Supported the completion of the renovation of the Mercantile and construction of the Old Town Community Theater . . . . GOAL 1: IMPLEMENT THE OLD TOWN SPECIFIC PLAN I OBJECTIVES: ~ Work with Old Town merchants, property owners, civic groups and the development community to make private and public improvements in Old Town, develop projects that win revitalize Old Town economy, and assist in the private rehabilitation of buildings in Old Town )- Promote and encourage participation in the Facade Improvement Program > Recruit new businesses to open in Old Town Projected Actual Projected Projected PERFORMANCE MEASURES: FY 2004-05 FV 2004.05 FV 2005-06 FV 2006-07 Number of facade improvement projects 8 9 20 15 completed Number of historical structures assisted 0 1 1 Number of redevelopment projects negotiated 0 1 and completed I CITY COUNCIL MEETING' JUNE 13, 2006 11