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Resolution Number CRA 10-06-15-01RESOLUTION NO. CRA 10-06-15-01 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SAN JUAN CAPISTRANO COMMUNITY REDEVELOPMENT AGENCY ADOPTING THE FISCAL YEAR 2010/2011 BUDGET AND AUTHORIZING EXPENDITURES AND APPROPRIATIONS RELATED THERETO WHEREAS, the Board of Directors of the Community Redevelopment Agency held a public hearing to consider the proposed Fiscal Program and Budget beginning July 1, 2010, and ending June 30, 2011; and, WHEREAS, the proposed Fiscal Year 2010/2011 Budget is the basis for the financial and economic implementation of the Community Redevelopment Plan; and, WHEREAS, the proposed Fiscal Year 2010/2011 Budget reflects a level of service and work force deemed appropriate by the Agency Board of Directors; and, WHEREAS, the Agency Board of Directors intends to use the proposed Operating Budget as a guide for determining Agency priorities; and, WHEREAS, the Agency Board of Directors recognized that the proposed Fiscal Year 2010/2011 Budget will require adjustments from time to time, and accordingly, the Agency Executive Director is authorized to execute necessary transfers to carry out the scope of services as approved. NOW, THEREFORE, BE IT RESOLVED, by the Board of Directors of the San Juan Capistrano Community Redevelopment Agency, as follows: 1. That the proposed Fiscal Year 2010/2011 Budget in accordance with Exhibit A attached hereto and incorporated by reference herein for a total appropriation amount of $29,146,473 and as detailed in the Community Redevelopment Agency section of the Budget Document on file with the Agency Clerk's Office entitled "City of San Juan Capistrano Budget -FY 201012011" is hereby adopted as the Operating and Capital Improvement Budget for the San Juan Capistrano Community Redevelopment Agency for fiscal year 201012011. 2. That the amounts reflected as estimated revenues for FY 2010/2011 as shown in Exhibit "A" are hereby adopted as budgeted revenues for FY 201012011. 3. That the amounts reflected as proposed expenditures for FY 2010/2011 as shown in Exhibit A are hereby appropriated to the department and/or fund for which they are designated and such appropriation shall not be increased except as provided herein. 4. That the legal level of budgetary control is the fund level. Budgets may not legally be exceeded at the fund level without appropriate authorization by the Agency Board of Directors. 5. That total appropriations for each fund may only be increased or decreased by the Agency Board of Directors by amending the budget except as provided herein. 6. That the following controls are hereby placed on the use and transfers of budgeted funds: a. The Executive Director may authorize all transfers of funds from account to account within any department. b. The Executive Director may authorize all transfers of funds from department to department within any fund. c, The Executive Director may delegate the authority to make budget transfers and adjustments. d. The Executive Director may authorize budget adjustments involving offsetting revenues and expenditures; the Executive Director may authorize increases in an appropriation for a specific purpose where the appropriation is offset by unbudgeted revenues, which is designated for said specific purpose. 7. That all appropriations in the Operating Budget for projects currently underway and remaining unexpended at June 30, 2010, as approved by the Executive Director or his designee, are hereby appropriated to the 2010/2011 fiscal year Operating Budget. 8. That all appropriations for outstanding encumbrances as of June 30, 2010, as approved by the Executive Director or his designee, are hereby continued into FY 2010/2011 for such contracts and obligations. PASSED, APPROVED AND ADOPTED this 15th day of June, 2010. -f ,t FF LAURA FREESE, CHAIRPERSON STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss. CITY OF SAN JUAN CAPISTRANO j I, MARIA MORRIS, appointed Agency Secretary of the Community Redevelopment Agency of the City of San Juan Capistrano, do hereby certify that the foregoing Resolution No. CRA 10-06-15-01 was duly adopted by the Board of Directors of the Community Redevelopment Agency at a regular meeting thereof, held the 15t' day of June 2010 by the following vote: AYES: i ECTORS: Nielsen, Allevato, Hribar and Chairperson Freese NOES D RECTORS: None ABS N . IRECT�ORS: Uso r MA IA RIS, Agen Secretary SAN JUAN CAPISTRANO COMMUNITY REDVELOPMENT AGENCY TOTAL BUDGET SUMMARY -ALL FUNDS FUND DETAIL STATEMENTS Community Redevelopment Agency BUDGET SUMMARY - ALI, FUNDS FY 2010/2011 201.0/2011 2010/2011 2010/2011. 2010/2011 Estimated Transfers Adopted Transfers Description Revenues in Expenditures Out Housing Set -Aside Fund Little Holtywood Housing Fund Debt Service Fund Kinoshita Debt Sinking Fund 1,720,176 148,653 498,080 6,979,907 229,565 6,566,655 940,595 7,366,541 164,424 $ - 6,353,303 'AN' `AWO , 59`9 0 Exhibit A - Page 1 Community Redevelopment Agency BLIDGET SUMMARY - ALL FUNDS FY 2010/2011 2010/2011 2010/2011 2010/2011 Beginning Ending Revenues Fund Balance Reserve Adjustments Increase/(Decrease) Available Available over/(under) Contributions Contributions In Available Fund Balance Fund Balance Expenditures From Reserves To Reserves Fund Balance 07/01/10 06/30/11 .......:,ixsl�..s.s:.. a.... .:......asa>..::..:.ss Exhibit A - Page 1 (5,757,811) 6,088,812 331,001 972,866 1,303,867 (80,912) 30,000 (50,912) 259,184 208,272 33 y�i ,p� 140,709 $ 35,000 1.75,709 $ 2,770,452 2,946,161. (6,188,879) 6,188,879 Exhibit A - Page 1 Community Redevelopment Agency ADMINISTRATION FUND FAY 2010/2011 CONTRIBUTIONS FROM (TO) RESERVES FUND BALANCE, JUNE 30 $ 376,886 $ 341,954 $ 61,355 RESERVES Exhibit A - Page 2 Percent Actual Projected Proposed Change Frorn Description 2008/09 2009/10 2010/11 Prior Year PROJECTED REVENUE AND OTHER SOURCES Proceeds of Administration Loan $ 900,000 $ 375,000 $ 375,000 0.00% Interest Income 47,017 467 6,839 1364.47% Other 358 - - 0.00% Transfer In -RV Storage Fund - 0.00% 0.00% Aea�sLg ESTIMATED EXPENDITURES AND OTHER USES Director's Salaries $ 3,360 $ 4,000 $ 4,000 0.00% Advertising/Pub0c Notices 481 800 800 0.00°% Engineering/Design Services 15,527 61,517 - -10€1.001/. Professional Services 130,214 46,500 86,500 86.02% Utilities 7,203 3,820 3,820 0.00% Office Supplies/Postage 184 412 412 0.00°% Stationery/Printed Material 267 250 250 0.00% Maintenance 878 3,900 3,900 0.00% Mileage Reimbursements 100 100 0.00% Training/Meetings 18 - - 0.00% Subscription/Dues 3,490 3,700 4,000 8.11°% Administrative Charges 191,620 285,400 558,656 95.74% 0.00% TAT61L.,S177AI1� 3ff'f€1 L1i0 S A{€ [3T#EA t7SfS :.. .... .$ ..,353,24, , $: .:Alii,9, CONTRIBUTIONS FROM (TO) RESERVES FUND BALANCE, JUNE 30 $ 376,886 $ 341,954 $ 61,355 RESERVES Exhibit A - Page 2 Community Redevelopment Agency AFFORDABLE HOUSING SET-ASIDE FUND FY 2010/2011 Description Actual 2008/09 Projected 2009/10 Proposed 2010/2011 Percent Change From Prior Year PROJECTED REVENUE AND OTHER SOURCES 794 1,150 2,200 165,306 Tax Increment $ 1,516,226 $ 1,609,028 $ 1,530,433 -4.88% Interest Income 501,006 327,990 140,244 -57.24% Other Income 243,314 - - 103,542 Residential Rental Income - 69,336 - -100.00% Repayment of Gap Financing 45,000 49,500 10.00% Bond Proceeds - 2008 TABS Series B - - 0.00% Transfer In from Housing Fund - 0.00% Other 21,440 0.00% ESTIMATED EXPENDITURES AND OTHER USES Advertising/Public Notices Engineering/Design Services Legal/Professional Services Training/Meetings Administrative Charges Rental Subsidy Program CBDG Leverage - Title 25 CDBG Leverage/Rehab Loans -Outside Target Area Seasons Phase II Habitat for Humanity Transfers Out -Debt Service 1997 Housing Tax Allocation Bonds 1998 Tax Allocation Refunding Bands 2008 Tax Allocation Bonds Series B - est Transfers Out-CIP Little Hollywood Housing - Phase II Habitat for Humanity The Groves Affordable Housing Programs (TBD) CONTRIBUTIONS FROM (TO) RESERVES Loans to/Payoff of Afforable Housing Loans Bond Proceeds Reserve FUND BALANCE, JUNE 30 RESERVES LT Receivable - Affordable Housing Projects Bond Proceeds Reserve $ 100 $ 2,015 $ 1,015 32,400 12,700 36,000 794 1,150 2,200 165,306 140,329 205,915 238,161 247,300 252,950 11,783 - 335,342 2,472,165 - 175,481 173,700 176,437 103,542 103,432 103,553 968,736 662,543 660,605 1,970,424 930,371 $ 18,050,619 $ 14,956,269 5 9,198,458 5,516,926 7,944,091 7,894,591 7,369,683 6,039,312 - -49.63% 0.00% 183.46% 91.30% 46.74% 2.28% 0,00% 0.00% 0.00% -100.00% 0.00% 1.58% 0.12% -0.29% 0.00% -100.00% Exhibit A - Page 3 400,000 - - 6,039,312 7,477 117,188 (2,427,165) 49,500 1,684,461 1,330,371 6,039,312 $ 18,050,619 $ 14,956,269 5 9,198,458 5,516,926 7,944,091 7,894,591 7,369,683 6,039,312 - -49.63% 0.00% 183.46% 91.30% 46.74% 2.28% 0,00% 0.00% 0.00% -100.00% 0.00% 1.58% 0.12% -0.29% 0.00% -100.00% Exhibit A - Page 3 Community Redevelopment Agency AFFORDABLE RENTAL HOUSING FUND - LITTLE HOLLYWOOD FY 2010/2011 CONTRIBUTIONS FROM (TO) RESERVES Set-aside for future Repair/Maintenance $ (1,703) $ 38,000 $ 30,000 FUND BALANCE, JUNE 30 $ 422,149 $ 341,184 $ 260,272 RESERVES Repair/Maint.Existing Housing Stock $ 120,000 $ 82,000 $ 44,000 d F • ` Exhibit A - Page 4 Percent Actual Projected Proposed Change From Description 2008/09 2009/10 2010/2011 Prior Year PROJECTED REVENUE AND OTHER SOURCES RentalIncome $ 169,913 $ 137,000 $ 141,795 3.50°% Interest income 13,743 5,600 6,858 22.46% Other 1,124 - - 0.00% ESTIMATED EXPENDITURES AND OTHER USES Property Mgmt & Programs $ 51,507 $ 89,440 $ 981000 9.57% Utilities - - - 0.00°% Maintenance 31,033 66,125 71,565 8.23% Capital Outlay 28,297 68,000 60,000 -11.76% CONTRIBUTIONS FROM (TO) RESERVES Set-aside for future Repair/Maintenance $ (1,703) $ 38,000 $ 30,000 FUND BALANCE, JUNE 30 $ 422,149 $ 341,184 $ 260,272 RESERVES Repair/Maint.Existing Housing Stock $ 120,000 $ 82,000 $ 44,000 d F • ` Exhibit A - Page 4 Community Redevelopment Agency CAPITAL IMPROVEMENT PROJECT FUND ICY 2010/2011 FUND BALANCE, JUNE 30 5 6,855,552 $ 997,380 $ 5,000,000 RESERVES Bond Proceeds Reserve $ 6,855,552 $ 2,397,380 $ 2,297,380 Exhibit A - Page 5 Percent Actual Projected Proposed Change From Description 2008/09 2009/10 2010/11 Prior Year PROJECTED REVENUE AND OTHER SOURCES Loan/Nate Proceeds from City $ 500,000 $ $ - 0.00% Loan Proceeds - Other - 5,000,000 Bond Proceeds - Series A - 801/6 0.00% Interest Income 137,111 19,948 -85.45% Other - - - 0.00% Transfers In -2W% Set -Aside Fund 1,970,424 1,330,371 (,039,312 353.96% Transfer in Housing Bond fund - -it, ESTIMATED EXPENDITURES AND OTHER USES General Protects Facade Improvement Progam $ 90,873 $ 166,387 $ 100,000 -39.90% LRR Adjacent Property Acquisition/E€R 108,821 5,000 - -100.00% Lower Rosan Ranch Driveway 18,727 131,273 -100.00% Del Obispo Camino Cap Imp (#111) - 140,000 -100.00% Rancho Viejo Rd Rehab, Ortega Hwy to i Serra Rd. 0.00% Serra Rd. (CIPlmp (0111) - 1,100,000 - 0.00% Business Retention/Economic Development 60,000 1,140,000 917,328 -19.53% Regency Theatre Assistance - 450,000 - -100.00% Pa5eo De Verdugo Assistance - 950,000 -100.00% UUD-Del Obispo/Paseo Adelanto to Alipaz 9,717 722,000 -100.00% Downtown Master Plan 4,885 595,115 -100.00°/ Project Area Amendment 609 249,391 -100.001A EI Adobe Plaza/Union Bank Improvements (CIP#111) - 96,117 -100.00% Landscape Median (Camino Capistrano South) 3,883 225,000 -100.00% Replace Old Freeway Signs - 25,000 -100.00% Lower Rosan Ranch Wetlands Mitigation - 0.00% Los Rios Parking Lot & Signage - 0.00% Downtown Signage Program 9,542 0.00% #114 - UUD 99-01/#3118 - Dowtown Lighting 1,428,000 0.00% North Depot Parking Lot - 0.00% Downtown Beautification 0.00% Calle Jardin Park Improvements - 0.00% Camino Cap & Forster St (EI Adobe) In -Pavement Lit Crosswalk 46,659 0.00% Ortega Highway Redesign - 0.00/ Standardized Street Furniture 39,145 Affordable Ha using Little Hollywood Housing - Phase II 1,968,704 930,371 The Groves - 400,000 - Affordable Housing Programs (TBD) 11 6,039,312 A Ai 1tW#E4TEi3 Et�iO1i RE5 its 3 tiER USES ... 8' 5, , . ;. iS ) 4 ..,...-7;U. . �{► '�,3.. 3 9b; CONTRIBUTIONS FROM (TO) RESERVES Bond Proceeds Reserve $ 1,319,152 $ 4,458,172 $ 100,000 FUND BALANCE, JUNE 30 5 6,855,552 $ 997,380 $ 5,000,000 RESERVES Bond Proceeds Reserve $ 6,855,552 $ 2,397,380 $ 2,297,380 Exhibit A - Page 5 Community Redevelopment Agency DEBT SERVICE FUND FY 2010/201 Percent Actual Projected Proposed Change From Description 2008/09 2009/10 2010/11 Prior Year PROJECTED REVENUE AND OTHER SOURCES Tax Increment $ 6,064,903 $ 6,121,730 $ 6,121,730 0.00% fnterest Income 122,586 81,404 55,409 -31.93% fnterest Income - Note Receivable - - - 0.00% CVWD-Interest Accrued - - - City of SJC-Safes Tax Pass-Thru 205,926 69,315 -66.34% City of SJC-Interest Accrued 298,692 322,808 320,201 -0.81% Bond Proceeds - - - 0.00% Transfers In-20%Set-Aside (1997) 175,481 173,700 176,437 1.58% Transfers In-20%Set-Aside (1998) 103,542 103,432 103,553 0.12% Transfers In-20%Set-yAside (2008) 968,736 662,543 660,605 -0.29% AT o 1.4 ESTIMATED EXPENDITURES AND OTHER USES City of SJC-Wm Lyon Fees $ 98,152 $ 98,152 $ 98,152 0.00% City of SJC(#1)-Tax Anticipation 1.,530,000 930,000 930,000 0.00% City of SJC(#4)-Trullis Acq- Loan 58,740 59,937 59,136 -1.34% City of SJC(#5)-Admin Loan 611,799 534,719 32,913 -93.84% Orange County -17.1% Agreement 1,292,931 1,308,500 1,308,500 0,00% CUSD Pass-Thru Agreement 464,893 498,887 1,052,178 110.90% SOCCCD Pass-Thru Agreement (82-83j 153,827 143,000 156,904 9.72% SB8211 Pass-Thru (all agencies) 197,017 189,500 193,300 2.0194. LRR Adjacent Properth Acq. ( F& M Sank) 296,667 325,000 325,000 0.00% Auto Tax Revenue Pass-Thru 201,888 205,926 69,315 -66.34% Fluidmaster 40,000 40,000 40,000 0.00% Capistrano Volkswagen 6,027 35,000 35,000 0.00% Sierra Vista 6,633 5,000 5,000 0.00% State ERAF Shift - 1,982,821 408,228 -79.41% Tax Allocation Bonds -1997 175,481 173,700 176,437 1.58% Tax Al location Bonds -1998 517,709 517,158 517,764 0.12% Tax Allocation Bonds/2008-Series A (80% -est) 306,302 638,269 639,694 0.22% Tax Allocation Bonds/2008-Series B (20% -est) 968,736 662,543 660,605 -0.29% Debt Administration 10,492 10,702 10,916 2.00% Bond Issuance Costs - - - 0.00% Kinoshita Acquisition 647,500 647,500 647,500 0.00% Transfer Out-Knshta Sinking Fund 80,000 - - 0.00% CONTRIBUTIONS FROM (TO) RESERVES Cash with Fiscal Agent Long-term receivables Long-term loans to City FUND BALANCE, JUNE 30 RESERVES Cash with Fiscal Agent Long-term receivables Long-term loans to City 656,567 $ - $ - 6,027 35,000 35,000 $ 5,404,708 $ 4,069,938 $ 4,210,647 1,192,704 1,192,704 1,192,704 141,782 106,782 71,782 Exhibit A - Page 6 Community Redevelopment Agency KINOSHITA DEBT SERVICE SINKING FUNIS FY 2010/2011 CONTRIBUTIONS FROM (TO) RESERVES Set-aside for Future Debt Service $ (282,895) $ (240,326) $ 6,188,879 FUND BALANCE, JUNE 30 $ 6,023,439 $ 6,263,765 $ 74,886 RESERVES Reserve for Debt Service $ 6,023,439 $ 6,263,765 $ 74,886 a s Exhibit A - Page 7 Percent Actual Projected Proposed Change From Description 2008/09 2009/10 2010/11 Prior Year PROJECTED REVENUE AND OTHER SOURCES Transfer In -Debt Service $ 80,000 $ - $ - 0.00% Interest 202,895 240,326 164,424 -31.58516 ESTIMATED EXPENDITURES AND OTHER USES Principal Payments - Kinosh to $ $ $ 1,253,303 "* Principal Payments - F & M Bank (LRR) 51100,000 CONTRIBUTIONS FROM (TO) RESERVES Set-aside for Future Debt Service $ (282,895) $ (240,326) $ 6,188,879 FUND BALANCE, JUNE 30 $ 6,023,439 $ 6,263,765 $ 74,886 RESERVES Reserve for Debt Service $ 6,023,439 $ 6,263,765 $ 74,886 a s Exhibit A - Page 7