HomeMy WebLinkAboutPCDC Resolution 97-06 06/16/1997 1 PETALUMA COMMUNITY DEVELOPMENT COMMISSION
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3 RESOLUTION NO. 97-06
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6 RESOLUTION APPROVING TEMPORARY FY 1997-98 BUDGET
7 FOR CONTINUING PROJECTS
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to WHEREAS, the Commission has reviewed the new and continuing housing
11 projects, and
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13 WHEREAS, the Commission has not reviewed the entire FY 97-98 PCDC budget
14 for continuing and new projects; and
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16 WHEREAS, there are various obligations for the continuing projects that require
17 authority to expend Commission funds; and
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19 WHEREAS, the estimated FY 97-98 revenues and beginning fund balances are
20 available and sufficient for funding the continuing projects;
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22 NOW, THEREFORE BE IT RESOLVED that the Petaluma Community
23 Development Commission hereby adopts the approves a temporary FY 1997-98 budget for the
24 housing projects and other continuing projects as shown on Exhibit A attached hereto.
2~ Adopted this 16th day of June by the following vote:
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28 Commissioner Aye No Absent
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3o Keller X
31 Maguire X
32 Read X
33 Stompe X
34 Torliatt X
35 Vice Chair Hamilton X
36 Chairman Hilligoss ~ X
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38 _ ~ "
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40 / /
41 . ~atric~a Hilligoss, Chairma
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44 ATTEST:
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46
47
4s .E. Bernard, Recording Secretary
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$o /word/agenda(pcdctemp
Reso. 97-06
Petaluma Community Development Commission FY 97-98 Continuing'Projects Budget
CENTRAL BZISINESS IDISTRICT'PRO.IECT AREA
S®ITRCE5 A1VD 1SES
FY 97-98 ~~I~~gT A
CONTINiJ1NG PROJECTS
BUDGET
ESTIMATED BEGINNING FUNDS AVAILABLE 82,700
REVENUES
PROPERTY TAX INCREMENT 431,850
INTEREST EARNINGS 1.,000
.PARKING LOT' REVENUES 2,500
MISCELLANEOUS REVENUE p
TOTAL REVENUES 435,350
TOTAL SOURCES OF FUNDS 518,050
USES
PROJECTS
8505 PROJECT ADMINISTRATION 10,000
8510 CBD I;OANS & ASSESSMENTS 50,000 (Full Year)
8511 PARKING GARAGEILOT MAINT 12,000
8512 URM PROJECT 109,100 (Balance Comrnited)
8515 MAIN STREET IMPROVEMENTS 4,800
8516 PLAZA RESTROOMS 1,000
8517 PETALUMA DOWN'T'OWN ASSOCIATION 12,000
9725 UNDERGROUND TANK MONITOR 1,000
TOTAL EXPENDITURES 199,900
TRANSFERS OUT TO L1M HOUSING FUND 86;370 (Foil Year)
TRANSFERS OUT TO DEBT SERVICE 130,000 (Full Yeaz)
TOTAL USES 416,270
ESTIMATED ENDING FUNDS AVAILABLE 101,780
.Petaluma Community Development Commission FY 97-98 Continuing Projects Budget
COMIVIUNI~'Y DEVEL®P1~flENT PROJEC'T' AREA
SOURCES AND USES
. FY 97-98 ~~~~g~ A
CON'TINi.JING PROJECTS
BUDGET
ESTIMATED BEGIIVNING RESERVES FOR PROJECTS 2,180,900
ESTIlVIATED BEGINNING FUNDS AVAILABLE 1,900,000
REVENUES
PROPERTY TAX INCREMENT 4,105,350
INTEREST EARNINGS 200,000
MISCELLANEOUS REVENUE 0
TOTAL REVENUES 4,305,350
BOND/LOAN PROCEEDS 13,785,000
TOTAL SOURCES OF FUNDS 22,171,250
USES
PROJECTS
5119 ECONOMIC DEVELOPMENT PROMOTION 0
8505 PROJECT ADMINISTRATION 50,000
8507 PASSTHROUGH PAYMENTS TO OTHERS 1,357,000 (Full Year) n
8514 PCDP LOANS & ASSES$MNENTS 19,000 (Fuu Year)
8519 CORONA REACH SPECIFIC PLAN 420,000 (Full Year)
8530 AUTO CT?NT'ER PROJECT 10,000
9528 FREEWAY OVERCROSSING/INTERCHANGE 409,000
9724 FLOOD CONTROL IMPROVEMENT PROJECTS. 3,872,000
9845 LAKEVILLE HIGHWAY IMPROVEMENTS 772,500
9848 OLD REDWOOD HIGHWAY IMPROVEMENTS 764,000 (Fud Year)
TOTAL EXPF,NDITiJRES 7,673,500
TRANSFERS TO L/M HOUSING FUND 821,070 (Full Yeaz)
TRANSFERS OUT TO DEBT SERVICE 1,611,250 (Full Yeaz)
TRANSFERS OUT TO MARINA FUND LOAN
DEBT SERVICE. SHORTFALL 145,000 (Full Year)
DREDGING 90,000 (Full Year)
TOTAL USES 10,340,820
ESTIMATED ENDING FUNDS AVAILABLE FOR PROJECTS 11,830,430
Petaluma Community Depelopment Commission FY 97-98 Continuing Projects.Budget
LOW AND iVIODERATE INC®1VIE ~I®USING FUND
• SOURCES AND U5ES
FY 97-98 ~X~~~~ ~
CONTINUING PROJECTS
BUDGET
ESTIMATED BEGINNING RESERVES FOR PROJECTS 7,200
ESTIMATED BEGINNINGFUNDS AVAILABLE 2,444,600
REVENUES
INVESTMENT INTEREST 75,000
MOBTLEHOME RENT CONTROL ADMIN 3,200
OTHER REVENUE 10,000
TOTAL REVENUES 88,200
TRANSFERS IN
FROM PCDC PROJECT AREAS 907,440
FROM CITY HOUSING IN-LIEU FUND 200,000
TOTAL TRANSFERS IN 1,107,440
TOTAL SOURCES OF FUNDS 3,647,440
USES
PROJECTS
saol HOUSING PROGRAM ADMIN 125,550 (rUl at Fu31 Year)
sail RENTAL ASSIST.-POOL (PPSC) 2,500
sate SINGLES SHELTER PROD (COTS) 61,500
sazs MEDIATIONASSISTANCE POOL (FPSC) 87,500
s431 VALLEJO STREET PHASE II 399,000
sa32 MAED USE PETALUMABLVD/PAYRAN (BH) 71,000
s436 FAMILY SHELTER PROGRAM/MAIN'T (COTS) 188,500
sa3~ MORTGAGE CREDIT CERTIFICATE 2,500
sa3s URM L/M INC HOUSING REHAB 200,000
sago FACILITY MAIN'T`ENANCE 43,000
saaa MOBII,E HOME RENT CONTROL 4,000
s450 SALISHAN APARTMENTS 142,400
sas2 CENTRAL PET SPECIFIC PLAN 370,900
sash OPPORTUNITY CENTER SET ASIDE 131,750
s4s7 ARMORY FACILITY SET ASIDE 700,000
sa6o "CHRISTMAS IN APRIL" HOUSING REHAB 25,000
s465 CPSP AREA HOUSING (EDEN) 20,000
s466 LANDBANK (PEP) 300,000
sa6~ BMR ADMINISTRATION (BHDC) 20,000
s468 TRANSIENT HOUSING PATH (BARMY) 20,000
also L &:M LOANSIASSESSMENTS 29,900
TOTAL EXPENDIT`1JRES 2,944,500
ENDING FUNDS AVAILABLE 702,940
RESERVED FUNDS
MOBILE HOME RENT CONTROL 6,420
RESERVE FOR LAND ACQUISITION 50,000
UNSPECIFIED HOUSING PROJECTS 453,580
ESTIMATED UNRESERVED FUNDS AVAILABLE 192,940
Petaluma Qommunity Development Commission FY 97-98 Continuing Projects. Budget
DEBT SE1tVICE FUNDS ,
_ S®~JRCES A1VD iJSES
FY 97-98 ~~~Ia
COAI'ITNUING PROJECTS
BUDGET
ESTIMATED BEGINNING DEBT SERVICE RESERVE 808,000
REVENUES
IN'T'EREST EARNINGS 45,000
1992 RESERVE FOR REFUNDING 600,500
1997 NET $OND PROCEEDS 5,462,500
TOTAL REVENUES 6,108,000
TRANSFERS IN 1,741,250
TOTAL SOURCES OF FUNDS 8,657,250
USES
8622 1984 TAX ALLOCATION BONDS 1:37,000 (All at Full Year)
s626 AD t! 19 AUTO PLAZA 113,550
a62s 1997 TAX ALLOCATION BONDS 1,507,000
8625 1997 COST OF ISSUANCE ~ 610,000
TOTAL EXPENDI'I'1JRES 2,367,550
TRANSFERS OUT/OTHER USES 0
TOTAL USES 2,367,550
ENDING.FUNDS AVAILABLE 6,289,700
RESERVED FUNDS
FOR 1.984 BONDS 175,000
FOR ] 992 BONDS 4,728,250
FOR 1997 BONDS 1,386,450
ESTIMATED FUND BALANCE AVAILABLE 0