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Resolution Number CRA 11-06-30-01
RESOLUTION NO. CRA 11-06-30-01 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SAN JUAN CAPISTRANO COMMUNITY REDEVELOPMENT AGENCY ADOPTING THE FISCAL YEAR 2011112 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, 2011, and ending June 30, 2012; and, WHEREAS, the proposed Fiscal Year 2011/12 Budget is the basis for the financial and economic implementation of the Community Redevelopment Plan; and, WHEREAS, the proposed Fiscal Year 2011/12 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 2011/12 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 2011/12 Budget in accordance with Exhibit A attached hereto and incorporated by reference herein for a total appropriation amount of $9,661,960 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 2011/12" is hereby adopted as the Operating and Capital Improvement Budget for the San Juan Capistrano Community Redevelopment Agency for fiscal year 2011/12. 2. That the amounts reflected as estimated revenues for FY 2011/12 as shown in Exhibit A are hereby adopted as budgeted revenues for FY 2011/12. 3. That the amounts reflected as proposed expenditures for FY 2011/12 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. 613012011 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. 6. That all appropriations in the Operating Budget for projects currently underway and remaining unexpended at June 30, 2011, as approved by the Executive Director or his designee, are hereby appropriated to the 2011/12 fiscal year Operating Budget. 7. That all appropriations for outstanding encumbrances as of June 30, 2011, as approved by the Executive Director or his designee, are hereby continued into FY 2011112 for such contracts and obligations. PASSED, APPROVED AND ADOPTED this 30th day of June 2011. .AURA FREESE, CHAIRMAN 2 6/30/2011 STATE OF CALIFORNIA ) COUNTY OF ORANGE CITY OF SAN JUAN CAPISTRANO ) 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 11-06-30-01 was duly adopted by the Board of Directors of the Community Redevelopment Agency at a adjourned regular meeting thereof, held the 30TH day of June, 2011 by the following vote: AYES: DIRECTORS: Allevato, Kramer, Taylor and Chair Freese NOES DI ECTORS: Reeve ABSENfl D` ECTOR-S: None ency )i�retary 6/30/2011 SAN JUAN CAPISTRANO COMMUNITY REDVEOPMENT AGENCY TOTAL BUDGET SUMMARY -ALL FUNDS H FUND DETAIL STATEMENTS 4 6/30/2011 a+ T 1 iu � co S � ey � CI C] C w1 a Y31 2 C N q�' V M W vis VF N $ p C G all! �M1 Vf Vps VI m WN pp O Q N � +h w iT N Vr OZ 0� �eNp} �`I hNpI e^I Q �t7 4wt a W N V! Yl N �Q r I t 5 s�'r g � K Yi1 N C C C � N O N 0 rp' E q V ro •� T �yy O � C �^ S TS � U iN+ a+ T 1 Community Redevelopment Agency ADMINISTRATION FUND FY 2011/12 FUND BALANCE, JUNE aO 475,450 47,767 $ 3,423 RESERVES Exhibit A - Page 2 Percent Actual Projected Proposed Change From Description 2009/10 2010/11 2011/12 Prior Year PROJECTED REVENUE AND OTHER SOURCES Proceeds of Administration Loan $ 375,000 $ - - 0% Interest Income 4,277 4,755 478 -90% Rental Income 15,500 30,000 24,000 -20% Transfer In -Debt Service Fund - 200,000 500,000 150% 090 tofAl, - PR(3&Ttli) OVEN#ES 44I) m4hlk 5604 S $ 394,777. $ 234,75S 524,478 MIMATED EXPENDITURES AND OTHER USES Dtrector's Sala des $ 3,420 $ 4,000 4,000 0% Advertising/Public Notices 499 800 - -100% Engineering/Design Services 8,067 - 0% Professional Services 33,651 166,500 93,000 -44% Utilities 4,532 3,820 - -100% Office Supplies/Postage 503 412 450 9% Stationery/Printed Material 9 250 250 0% Maintenance - 3,900 3,900 0% Mileage Reimbursements 22 100 100 0% Training/Meetings. - ()1Y. Subscription/Dues 4,206 4,000 4,000 0% Administrative Charges 227,523 478,656 463,122 -3% TOTAL - ESfliiATW EXPENDITURES AND OTHER USES 1,, 1', R! 282,432 $ 662,438 568,812 11011 111 '51111yJam, 1,111 1: 1! 11 CONTRIBUTIONS FROM {TO) RESERVES CHANGE IN AVA4AS'LE FlOWD'BALANCE 112,345 (427,60 $ (44,344) AVAILABLE PUND BALANCE, JULY,1 363,105 47,5,450 47,767 ME FUND BALANCE, JUNE aO 475,450 47,767 $ 3,423 RESERVES Exhibit A - Page 2 Community Redevelopment Agency AFFORDABLE HOUSING SET-ASIDE FUND FY 2011/12 ESTIMATED EXPENDITURES AND OTHER USES AdvertisingjPubllc Notices $ 1.15 $ 1,015 $ Percent 0% Actual Projected Proposed Change From Description 2009/10 2010/21. 2011/12 Prior Year 11,000 -69% Training/Meetings 587 PROJECTED REVENUE AND OTHER SOURCES 2,200 0% Administrative Charges Tax Increment $ 1,648,448 $ 1,530,433 $ 1,541,957 1% Interest Income 307,053 94,383 57,196 -39% Other Income 174 - - Residential Rental Income - The Groves 64,000 ** Repayment of Gap Financing _ 0% _ 0% other 0% 0% CpTI PR*00 0E0 3E R0 OTHER S(}* $ 2,9 5,G75 $ 1,624;815. $ 16fi3.1S3 41 % ESTIMATED EXPENDITURES AND OTHER USES AdvertisingjPubllc Notices $ 1.15 $ 1,015 $ 1,015 0% Engineering/Design Services - 0% Legal/Professional Services 6,709 36,000 11,000 -69% Training/Meetings 587 2,200 2,200 0% Administrative Charges 159,254 205,915 78,936 -62% Rental Subsidy Program 243,512 252,950 276,115 9% Rental Securement Program 3,493 - - 0% The Groves 117,303 - 0% Transfers Out -Debt Service 0% 1997 Housing Tax Allocation Bonds 173,700 174,869 173,494 -1% 1998 Tax Allocation Refunding Bonds 103,266 102,902 103,642 1% 2008 Tax Allocation Bonds Series B - est 662,543 661,085 663,450 01ya Transfers Out-CIP V 0% Little Hollywood Housing- Phase II 868,508 - - 0% The Groves 10,960 389,040 Affordable Housing Project (TI3D) - 61039,312 -1.00°/0 TOTAL - ]ESTIMATED kXk14lC3iTUAES }1141) £i' HERi U8E$ $ 2,349,950 $ 7.865,x$8 . $ 1,309.$52 235% CONTRIBUTIONS FROM (TO) RESERVES Payoff of/(Loansto) Afforable Housing Projects (3,157,246) 3,103,620 54,000 Bond Proceeds 664,€105 6,428,352 - Cm4d iN AvPjLtl$LE FUND 11 miff i; $ [2,8$7,516} $ 3,297.1540 $ 407,3U9. AVA. AW FUND Ai.ANCE,SKY1:.D;,799..;- ..S,4iZ,299 FUND BALANCE, JUNE 30 $ 17,530,649 $ 11,290,1.77 $ 11,643,478 RESERVES LT Receivable - Affordable Housing Projects 8,674,172 5,570;552 5,516,552 Bond Proceeds - Affordable Housing 6,705,678 277,326 277,326 Exhibit A - Page 3 Community Redevelopment Agency AFFORDABLE RENTAL HOUSING FUND - LITTLE HOLLYWOOD FY 2011/12 Repair/Maintenance Existing Housing Stock 115,224 53,703 240,000 11 1 IN Exhibit A - Page 4 Percent Actual Projected Proposed Change From Description 2009/10 2010/11 2011/12 Prior Year PROJECTED REVENUE AND OTHER SOURCES Rental Income $ 177,974 $ 160,000 $ 164,000 2% Interest Income 7,803 3,457 - -100% Other 50 - - 0% kf.V. ik§A, iS 163,40 146 -129 ESTIMATED EXPENDITURES AND OTHER USES Property Mgmt & Programs 63,928 98,000 98,940 ly. Utilities - - - 0% Maintenance 46,644 71,565 19,050 -73% Capital Outlay 34,776 60,000 59'fl00 -2% CONTRI13UTIONS FROM (TO) RESERVES Set-aside for future Repair/Malrvtenance (1,703) 61,521 (186,297) Repair/Maintenance Existing Housing Stock 115,224 53,703 240,000 11 1 IN Exhibit A - Page 4 Community Redevelopment Agency CAPITAL IMPROVEMENT PROJECT FUND FY 2011/12 CO Bond Proceeds Reserve FURE5 AND OTHER .1 SES .. $ 2,666,455 $ 13. RESERVES CHAn Gt IN AVAIirAkE FUND 6ALANcE S {i, ;Z9) {i,ssI);8s3; $ AVAILABLE FUND BALANCE, JULY 3 6.924,129 5,97.3,838 " 2,942,955 FUND BALANCE, JUNE 30 $ 5,923,838 $ 2,942,955 $ 2,942,955 RESERVES sem% Exhibit A - Page 5 Percent Actual Projected Proposed Change From Description 2009/10 2010/11 2611/12 Prior Year PROJECTED REVENUE AND OTHER SOURCES Loan/Note Proceeds - City of SJC $ $ $ - 0% Loan Proceeds - Other Band Proceeds 0% Project Loan Repayment 0% Interest Income 120,696 44,429 -100% Cather - - 0% Transer In - 2091. Set -Aside Fund 879,458 .6,428,352 -100% Transfer In - Sinking Fund - 3,829,227 -100% Transfer In - Debt Service Fund _ -P% TOTAL PItbJ> LTEC3 lJEtEENFS A%t;t}7 i IEt StDURGES $ 1,©fTO;Ifi $ 1ti 342'iiDB $ - i3D%, ESTIMATED EXPENDITURES AND OTHER USES 6enert7l Pr�ects 07904 - Facade Improvement Program $ 61,876 $ 204,513 $ -100`Yv 07906 - LRR Adjacent Property Acq./EIR 196,781 - 0% 09903 - LRR Driveway 7 Wetlands Mitigation 2,149 - 09905 - Del Obispo/Camino Capistrano imp, 40,752 99,248 -100% 09906 - Rancho Viejo Rd./J Serra Imp, 28,273 1,071,728 -100% 09907 - Business Retention/Attraction - Auto Dealers 10,000 3,300,000 -100% 09907 - Business Retention/Attraction - Regency Theatre 450,000 - 0°% 09908 - Paseo De Verdugo - 1,548,000 0% 09911- Downtown Master Plan 285,180 309,934 -100% 09912 - Project Area Amendment 39,425 - 0% 09913 - EI Adobe Plaza/Union hank improvements - 96,118 -100% 10901 - Ortega Highway Sidewalk Widening 225,000 -100% 10904 -Replace Old Freeway Signs 6,551 - 070 0% 07902 - Little Hollywood Housing - Phase 11 868,508 - 0% 10906 - The Groves Workforce Housing 10,960 389,040 -100% XXXXX - Affordable Housing (TBD) 6,039,312 -100% CO Bond Proceeds Reserve FURE5 AND OTHER .1 SES .. $ 2,666,455 $ 13. RESERVES CHAn Gt IN AVAIirAkE FUND 6ALANcE S {i, ;Z9) {i,ssI);8s3; $ AVAILABLE FUND BALANCE, JULY 3 6.924,129 5,97.3,838 " 2,942,955 FUND BALANCE, JUNE 30 $ 5,923,838 $ 2,942,955 $ 2,942,955 RESERVES sem% Exhibit A - Page 5 Community Redevelopment Agency DEBT SERVICE FUND FY 2011/12 Exhibit A Page 6 Percent Actual Projected Proposed Change From Description 2009/10 2010/11 2011/12 Prior Year PROJECTED REVENUE AND OTHER SOURCES Tax Increment $ 6,593,794 $ 6,121,730 $ 6,167,829 1% Interest Income 62,170 8,413 23,739 182% City of SJC-Sales Tax Pas$-Thru 240,4613 50,940 - -100% City of 5JC-Interest Accrued 290,751 289,145 298,466 3% Transfers €rI Set -Aside (1997) 173,700 176,437 173,494 -2% Transfers In -20% Set -Aside (1.998) 103,266 103,553 103,642 0% Transfers In 20%Set Aside (2008) 662,543 660,605 663,450 0% TO, TAL P;(7,OE N'VES 4t7, qt"' ER SOIJRCE5 $ 8,126,687= $ 7,4#0,8'Z3 $ 7x434;620 63� ESTIMATED EXPENDITURES AND OTHER USES City of SJC-Wm Lyon Fees $ 98,152 $ 98,152 $ 98,152 p% City of SJC(ff1)-Tax Anticipation 930,000 930,000 430,000 -54% City of SJC(#4)-Tru€lis Acq, Loan 52,632 52,247 54,017 3%P City of 5J06) - Admin Loan 509,967 8,746 166,297 18411/0 Orange County -17.1% Agreement 1,400, 945 1,308, 500 1,318,400 1% CUBO Pass-Thru Agreement 498,887 1,052,178 1,532,951 46% SOCCCD Pass-Thru Agreement (82-83) 191,298 156,904 160,042 2% SB8211 Pass-Thru (all agencies) 244,390 193,300 197,200 2% LRR Adjacent Properth Acq, (F& M Bank) 331,825 1,293,250 3+35,000 -69% Auto Tax Revenue Pass-Thru 240,463 80,940 - -100% Ruidmaster 40,000 40,000 40,000 0% Capistrano Volkswagen 35,000 35,000 35,000 0% Sierra Vista 6,800 5,000 51000 0% TCAG, Inc. - 37,500 150,000 OC Chrysler - 6,250 75,000 State ERAF Shift 1,984,672 408,228 - -100% Tax Allocation Bonds -1997 173,700 176,337 173,494 -2% Tax Allocation Bonds -1998 517,158 515,780 51S,209 0% Tax Allocation Bands/2008-Series A (80% est) 638,269 639,687 640,768 0% Tax Allocation Bonds/2008-Series B (20% -est) 662,543 660,595 663,450 0% Debt Administration 13,589 13,016 1.3,276 2% Band Issuance Costs 11500 - 0% Kinoshita Acquisition 647,500 647,500 440,000 -32% Transfer Out -Sinking Fund 950,000. - - 04'0 Transfer Out -Admin Fund 200,000 500,000 150% TOTAL-.QSTl1 MATED.EXP")=NDIT41RES AND OTHER USES$ iQ,169,29© $ 8,559;110 $ 7, 8,256 1695 K 8 J { d CONTRIBUTIONS FROM (TO) RESERVES Cash with Fiscal Agent $ 278 $ $ Long-term receivables 351000 35,000 35,000 CHANGE IN AVAtLA8t7E FUND SALAXtE $ (2,007,325) $ (1,1183;287) $ (140'636) AVAILABLE FUND BALANCE, JULY 1 3,1689;918 102,593 599,306 FUND BALANCE, JUNE 30 $ 3,563,994 S 2,445,707 $ 2,270,071 RESERVES Cash with Fiscal Agent 1,774,618 1,774,619 1,774,618 Long-term receivables 105,783 71,783 36,783 Exhibit A Page 6 Community Redevelopment Agency DEBT SEIMCE SINKING FUND FY 2011/12 Exhibit A - Pag6 7 Percent Actual Projected Proposed Change From Description 2009/10 2010/11 2011/12 Prior Year PROJECTED REVENUE AND OTHER SOURCES Transfer in -Debt Service $ 950,000 0% Interest 100,600 53,000 20,000 -62% 9E,V.ENP.S 1,6_ 'S $ ESTIMATED EXPENDITURES AND OTHER USES Principal Payments - Kinoshita 1,253,303 -100% Principal Payments - F & M Bank fLRR) - Transfer to Debt Service Fund Transfer to Capital improyernent Fund 3,829,227 Total - Estimated EXPOdltur6 and Other Uses $ 5,082,530, $ CONTRIBUTIONS FROM (TO) RESERVES Set-aside for Future Debt Service $ (1,050,600) $ 7;029,530 $ CHANGE IN AVML�6(E FUND: BALANCE $ 2,0w,06 . 0 $ 10,000 AVAILABLE FUND BALANCE, JULY 1 21000,000 FUND BALANCE, JUNE 30 $ 7,029,530 $ 2,000,000 $ 2,020,000 RESERVES Reserve for Debt Service $ 7,029,530 $ - $ - Exhibit A - Pag6 7