HomeMy WebLinkAboutCDC/2008-23
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(Note: Companion Resolutions CDC/2008-24 & 2008-256)
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RESOLUTION NO. CDc/2008-23
RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF
THE CITY OF SAN BERNARDINO, CALIFORNIA, APPROVING AN
AMENDMENT TO THE ECONOMIC DEVELOPMENT AGENCY'S
("AGENCY") FISCAL YEAR 2007-2008 BUDGET TO ALLOW FOR CARRY-
OVER TAX INCREMENT FUND BALANCES AND GOLF COURSE LEASE
FUNDS TO BE USED FOR ELIGffiLE FISCAL YEAR 2007-2008 CITY
ADOPTED EXPENDITURES
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WHEREAS, on June 21, 2007, the Community Development Commission of the City of San
8 Bernardino ("Commission"), adopted the Economic Development Agency's ("Agency") fiscal year
9 2007-2008 Budget, with the exception of$9.6 million allocated to projects funded with accumulated
10 carry-over tax increment fund balances for one-time expenditures; and
11 WHEREAS, the Commission desires to adopt the finding that the funding by the Agency of
12 the following City of San Bernardino ("City") expenditures (hereinafter referred to as "City
13 Expenditures") are eligible expenditures of tax increment revenues and Shandin Hills Golf Course
14 lease revenues and will benefit the City and the Agency: 1) transfer Golf Course lease revenue to the
15 City - $650,000; 2) provide City Human Resource service to the Agency - $25,000; 3) eliminate all
16 rent to the Agency for City leases at the 201 North "E" Street building - $162,900; 4) the Agency
17 will pay the debt service on the City Library Lease Revenue Bond - $657,000; and 5) the Agency
18 will pay the City's portion of the Welcome Center - $25,000; and
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WHEREAS, the Commission desires to approve and adopt an amendment to the Agency's
20 fiscal year 2007-2008 Budget to allocate $1,519,900 from the accumulated carry-over tax increment
21 funds and Shandin Hills Golf Course lease revenue funds for eligible fiscal year 2007-2008 City
22 Expenditures.
23 NOW, THEREFORE, THE COMMUNITY DEVELOPMENT COMMISSION OF THE
24 CITY OF SAN BERNARDINO DOES HEREBY RESOLVE, DETERMINE AND ORDER, AS
25 FOLLOWS:
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Section 1.
The Commission hereby approves and adopts the finding that the funding by
27 the Agency of all certain City Expenditures are eligible expenditures of tax increment revenues and
28 Shandin Hills Golf Course lease revenues and will benefit the City and the Agency.
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CDC/2008-23
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The Commission hereby approves and adopts an amendment to the Agency's
Section 2.
2 Budget in the amount of$I,5l9,900 for eligible fiscal year 2007-2008 City Expenditures.
This Resolution shall become effective immediately upon its adoption.
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CDC/2008-23
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RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF
THE CITY OF SAN BERNARDINO, CALIFORNIA, APPROVING AN
AMENDMENT TO THE ECONOMIC DEVELOPMENT AGENCY'S
("AGENCY") FISCAL YEAR 2007-2008 BUDGET TO ALLOW FOR CARRY-
OVER TAX INCREMENT FUND BALANCES AND GOLF COURSE LEASE
FUNDS TO BE USED FOR ELIGIBLE FISCAL YEAR 2007-2008 CITY
ADOPTED EXPENDITURES
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6 I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Community
7 Development Commission of the City of San Bernardino at a joint adjourned
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meeting
day of June
, 2008, by the following vote to wit:
Aves
Abstain
Navs
Absent
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x
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x
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19 The foregoing Resolution is hereby approved this dhL day of July ,2008.
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24 Approved as to Form:
~: BY:_~~
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Esther Estrada, Vice Chairperson
Community Development Commission
of the City of San Bernardino
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