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Home My WebLink AboutR5-Economic Development Agency ECONOMIC DEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO REOUEST FOR COMMISSION/COUNCIL ACTION FROM: Gary Van Osdel Executive Director SUBJECT: ECONOMIC DEVELOPMENT AGENCY FISCAL YEAR 2003-04 BUDGET DATE: June 23, 2003 ORIGINAL SvnoDsis of Previous Commission/CounciUCommittee Action(s): None. Recommended Motion(s): (Community Development Commission) MOTION A: RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO, CALIFORNIA, APPROVING THE ECONOMIC DEVELOPMENT AGENCY'S BUDGET FOR THE FISCAL YEAR 2003-04 EXCEPT FOR THOSE PORTIONS OF CERTAIN BUDGET LINES WHICH ARE RELATED TO THE UPTOWN REDEVELOPMENT PROJECT AREA. MOTION B: RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO, CALIFORNIA, APPROVING THE ECONOMIC DEVELOPMENT AGENCY'S BUDGET FOR THOSE PORTIONS OF CERTAIN BUDGET LINES WHICH ARE RELA TED TO THE UPTOWN REDEVELOPMENT PROJECT AREA FOR THE FISCAL YEAR 2003-04 Contact Person(s): Garv Van OsdellBarbara Lindseth Phone: 663-1044 Project Area(s): All Ward(s): All Supporting Data Attached:1RI Staff Report iii Resolution(s) 0 Agreement(s)/Contract(s) 0 Map(s) 0 LtrlMemo FUNDING REQUIREMENTS: Amount: $59.849.446 Source: All SIGNATURE: Budget Authority: Reauested ,.~~GLU~ J'1c/~;{ Barbara Lindseth Admin Services Director Commission/Council Notes: ~~~~~_~__:;_~~~?~~_~~_?:~___;__~(?:cl:~_~~_~______________--------------------------------------- GVO:bl::Agenda CDC budget 03-04.doc COMMISSION MEETING AGENDA MEETING DATE: 06/30/03 Agenda Item Number: /(5' ECONOMIC DEVELOPMENT AGENCY STAFF REPORT Economic Development Aeencv Fiscal Year 2003-04 Hudeet Cl11e Economic Dcvelopment Agency's ("Agency") proposed budget fi:>r the fiscal year 2003-2001 anticipates resources totaling $59,819,516. Of tins total, $37,126,323 are redevelopment project area funds, of winch $20,995,165 arc anticipated new revenues, and $16,431,158 arc carryover bond proceeds, bond reserves and land sales proceeds. Anticipated resources also include $1 f,7 44,024 in 20% set-aside funds (new revenues and carry-over funds combined), and a total of $10,679,199 in federal funds (CDBG, NIP, HOME and F~'iG). In light of the State's budget crisis, and the loonling negative implications of continued Education Revenue Augmentation Fund ("ERAF") mandated payments, the proposed budget reflects a 6.4 7% reduction in Agency administration and operations expenditures, for a total reduction 01'$149,768. In order to acllleve tills reduction, two (2) previously authorized vacant positions (Project Manager and Assistant Project Manager) are not being recommended for funding, while other administrative budget line items were held at 2002-03 levels or reduced. For fiscal year 2003-04, ninety-five percent (95%) of the proposed budget encompasses required expenditures based upon previous actions of the City Council and/or Community Development Commission concerning Agency bond payments, contracts, agreements, projects and programs. Thus, only five percent (5%) of the Agency's proposed budget, or $2,987,782, has not previously been prioritized, obligated or committed and, therefore, is available for Agency staffing, administration and operations, general consulting, legal, special events, research, demograplllcs and materials. The $2,987,782 discretionary budget amount referenced above includes $2,162,782 for Agency staffing and direct administration/operations costs (3.6% of total budget), and $825,000 in Agency costs associated with legal, general consultant services, special events, research, demograplllcs and materials. The anticipated Agency's tax increment cash flow projection for fiscal year 2003-04 is a positive of approximately $142,000, based upon projected increases in tax increment revenues, and the above mentioned reductions in administrative costs. Tills projected positive cash flow for the Agency comes, however, without taking into consideration any possible Agency contribution to ERAF. At this time it is unknown what ERAF payment level will be mandated, however, if the ERAF contribution is adopted in the Governor's budget at the $250 million level as presently proposed, the Agency's ERAF payment could be approximately $2,054,000. At tills level ofERAF funding, the Agency could GVO:bl::Agenda CDC budget 03-04.doc COMMISSION MEETING AGENDA MEETING DATE: 06/30/03 Agenda Item Number: 1.5 Economic Development Agency Fiscal Year 2003-04 Budget Page - 2 - legally borrow half ($1,027,000) from the Low-Moderate Housing Fund to pay a portion of the obligation, but might be forced to use bond proceeds or renege on prior contractual obligations in order to meet the remaining balance of iL~ ERAF debt. Based upon the foregoing, it is recommended that the Community Development Commission adopt the attached Resolutions. /;lL // ;: . t--~ L. GVO:bl::Agenda CDC budget 03-04.doc COMMISSION MEETING AGENDA MEETING DATE: 06130/03 Agenda Item Number: Il5" 1 2 3 4 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 ~~rl' RESOLUTION NO. 5 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO, CALIFORNIA, APPROVING THE ECONOMIC DEVELOPMENT AGENCY'S BUDGET FOR THE FISCAL YEAR 2003-04 EXCEPT FOR THOSE PORTIONS OF CERTAIN BUDGET LINES WHICH ARE RELATED TO THE UPTOWN REDEVELOPMENT PROJECT AREA. WHEREAS, the Community Development Commission ("Commission") desires to approve and adopt the Economic Development Agency's Budget for the Fiscal Year 2003-04, except for those portions of certain Budget Lines which are related to the Uptown Redevelopment Project Area. NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO, AS FOLLOW: Section 1. The Commission hereby approves and adopts the Economic Development Agency's Budget for the Fiscal Year 2003-04, as attached hereto, except for those portions of Budget Lines 4011,4019,4500,4900,5010 through 5021, 6001 through 6005, 6007 through 6012, 6014 through 6018, 6020, 6021, 6103,6301,6306,6401,6402,6500,6600,6703,7001 through 7003,7102,7302, 7305, 7306, 7402, 7403, 8002, and 8003 which are related to the Uptown Redevelopment Project Area. Section 2. This Resolution shall take effect upon the date of its adoption. II II II 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO, CALIFORNIA, APPROVING THE ECONOMIC DEVELOPMENT AGENCY'S BUDGET FOR THE FISCAL YEAR 2003-04 EXCEPT FOR THOSE PORTIONS OF CERTAIN BUDGET LINES WHICH ARE RELA TED TO THE UPTOWN REDEVELOPMENT PROJECT AREA. I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Community Development Commission of the City of San Bernardino at a meeting thereof, held on the _day of , 2003, by the following vote, to wit: Commission Members Aves Navs Abstain Absent ESTRADA LONGVILLE MCGINNIS DERRY SUAREZ ANDERSON MCCAMMACK Secretary The foregoing Resolution is hereby approved this _day of ,2003. Judith Valles, Chairperson Community Development Commission of the City of San Bernardino to form and legal content: By: I I I , 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 RESOLUTION NO. t (Q) \P V RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO, CALIFORNIA, APPROVING THE ECONOMIC DEVELOPMENT AGENCY'S BUDGET FOR THOSE PORTIONS OF CERTAIN BUDGET LINES WHICH ARE RELATED TO THE UPTOWN REDEVELOPMENT PROJECT AREA FOR THE FISCAL YEAR 2003-04. WHEREAS, the Community Development Commission ("Commission") desires to approve and adopt the Economic Development Agency's Budget for those portions of certain Budget Lines which are related to the Uptown Redevelopment Project Area for the Fiscal Year 2003-04. NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO, AS FOLLOW: Section 1. The Commission hereby approves and adopts the Economic Development Agency's Budget, as attached hereto, for those portions of Budget Lines 4011, 4019, 4500, 4900, 5010 through 5021, 6001 through 6005, 6007 through 6012, 6014 through 6018, 6020, 6021, 6103, 6301, 6306, 6401, 6402, 6500, 6600, 6703, 7001 through 7003, 7102, 7302, 7305, 7306, 7402, 7403, 8002, and 8003 which are related to the Uptown Redevelopment Project Area for the Fiscal Year 2003-04. Section 2. This Resolution shall take effect upon the date of its adoption. II II II II 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Approved as 0 form and legal content: 1 2 3 4 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO, CALIFORNIA, APPROVING THE ECONOMIC DEVELOPMENT AGENCY'S BUDGET FOR THOSE PORTIONS OF CERTAIN BUDGET LINES WHICH ARE RELATED TO THE UPTOWN REDEVELOPMENT PROJECT AREA FOR THE FISCAL YEAR 2003-04. 5 I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Community Development Commission of the City of San Bernardino at a meeting thereof, held on the _day of , 2003, by the following vote, to wit: Commission Members Aves Nays Abstain Absent ESTRADA LONGVILLE MCGINNIS DERRY SUAREZ ANDERSON MCCAMMACK Secretary The foregoing Resolution is hereby approved this _day of ,2003. Judith Valles, Chairperson Community Development Commission of the City of San Bernardino 27 28 By: ** FOR OFFICE USE ONLY - NOT A PUBLIC DOCUMENT ** RESOLUTION AGENDA ITEM TRACKING FORM Meeting Date (Date Adopted): {(;' ':z,U-(J:; Vote: Ayes 1- 1 Nays Item# ~R5 A j::r Abstain Change to motion to amend original documents: -- Resolution# 2Dc.I:JIY'z; .-~3 rcr Absent .8 Reso, # On Attachments: ~ - Contract term: Note on Resolution of Attachment stored separately: ~ Direct City Clerk to (circle I): PUBLISH, POST, RECORD W/COUNTY By: Date Se~;io Mayor: '7 - 1- () 3 Date of Mayor's Signature: 1-.;;J. - 0 ~ Date of Clerk/CDC Signature: '1 -'d- - (J ~ " Date Memo/Letter Sent for Signature: 60 Day Reminder Letter Sent on '30th day: 90 Day Reminder Letter Sent on 45th day: See Attached: See Attached: See Attached: ~--------- Request for Council Action & Staff Report Attached: Updated Prior Resolutions (Other Than Below): Updated CITY Personnel Folders (6413, 6429, 6433, 10584, 10585, 12634): Updated CDC Personnel Folders (5557): Updated Traffic Folders (3985, 8234,655,92-389): Copies Distribu6" City Attorney ~ ., Parks & Rec. Code Compliance Dev. Services Water Public Services Police Notes: NulllVoid After: Reso. Log Updated: ./ Seal Impressed: ,/ Date Returned: Yes v No No / No V No / No~ By_ By_ By_ By_ By_ Yes Yes Yes Yes EDA / Finance ~ MIS Others: BEFORE FILING, REVIEW FORM TO ENSURE ANY NOTATIONS MADE HERE ARE TRANSFERRED TO THE YEARLY RESOLUTION CHRONOLOGICAL LOG FOR FUTURE REFERENCE (Contract Term, etc.) Ready to File: _ Date: Revised 01/12/01 c ** FOR OFFICE USE ONLY - NOT A PUBLIC DOCUMENT ** RESOLUTION AGENDA ITEM TRACKING FORM Meeting Date (Date Adopted): (X" ~/03 Item # - Q,5 Vote: Ayes j - & Nays .-<; Abstain Change to motion to amend original documents: -- Resolution # CJX;:../';;(O.s -:J- t.( '7 Absent '21 Reso. # On Attachments: Contract term: Note on Resolution of Attachment stored separately:~ Direct City Clerk to (circle I): PUBLISH, POST, RECORD W/COUNTY By: Date Se~~to Mayor: '7 - f - [) 3> Date of Mayor's Signature: '7 -;). - 03 Date of ClerklCDC Signature: Date Memo/Letter _~ent for Signature: 60 Day Reminder Letter Senton3Qth.day: 90 Day Reminder Letter Sent on 45th day: See Attached: See Attached: - --see'A:tta ShPn. Request for Council Action & Staff Report Attached: Updated Prior Resolutions (Other Than Below): Updated CITY Personnel Folders (6413, 6429, 6433,10584,10585,12634): Updated CDC Personnel Folders (5557): Updated Traffic Folders (3985, 8234, 655,92-389): Copies Distributed to: City Attorney ~ Parks & Rec. Code Compliance Dev. Services Police Public Services Water Notes: Null/Void After: Reso. Log Updated: Seal Impressed: v- ~ Date Returned: Yes ~ No BYr Yes No~' BYr Yes No ../ By I Yes No~ By i --r-- Yes N01 Bj- EDA ,/ MIS Finance Others: BEFORE FILING, REVIEW FORM TO ENSURE ANY NOTATIONS MADE HERE ARE TRANSFERRED TO THE YEARLY RESOLUTION CHRONOLOGICAL LOG FOR FUTURE REFERENCE (Contract Term. etc,) Ready to File: _ Date: Revised 01/12/0 I