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Home My WebLink AboutPCDC Resolution 90-01 02/12/1990 1 PETALUMA COMMUNITY .DEVELOPMENT COMMISSION 2 3 4 RESOLUTION NO. 90-1 5 6 RESOLUTION ADOPTING ..BUDGET FOR THE 7 1989-90 FISCAL YEAR 8 9 1o WHEREAS, the Petaluma Community Development.Commission has 11 reviewed the budget submitted to it for the period July 1, 198.9,-th-rough 12 June 30, 1990 and, 13 14 WHEREAS, this Commission finds said budget to be in order and to 15 be a balanced budget: 16 17 NOW, THEREFORE, BE IT RESOLVED that the Petaluma 18 Community Development Commission hereby adopts the budget attached 19 hereto as Exhibit A and incorporated by this reference. 20 21 ADOPTED this 12th day of February, 1990, by the following vote: 22 23 24 Commissioner AXe No Absent 25 25 Balshaw (x) ( ) ( ) 27 28 Cavanagh (x) ( ) ( ) 29 30 Davis (x) ( ) ( ) 31 32 Tencer (x) ( ) ( ) 33 34 Woolsey (x) ( ) ( ) 35 36 Vice Chair Sobel (x) ( ) ( ) 37 38 Chairman Hilligoss (x) ( ) ( ) 39 40 41 ~ - 4 2 43 44 Chairman, M. P. Hilli oss 45 46 ATTEST' 47 48 _ _ . 49 5o ecording Sec etary, P. E. Bernard 90-01 EXHIBIT A PETALUMA COMMUN"ITY DEVELOPMENT COMMISSION FY 198.9-90 BUDGET PAGE SUMMARY BY PROJECT AREA 1 PRIOR YEAR COMPARLSON SU11!IMARY 2 ANNUAL DEBT SERVICE SUMMARY 3 BUDGET DETAIL BY PROJECT AREA CENTRAL BUSINESS DISTRICT PROJECT AREA 4 COMMUNITY DEVELOPMENT PROJECT AREA 7 L-OW AND MODERATE INCOME HOUSING FUND 10 . PETALUMA COMMUNITY DEVELOP~IE~T C0~1_tiLISStOti FY 1989-94 BUDGET SUMMARY BY PROJECT AREA CENTRI?L BUSINESS DISTRICT CO144UNITY DEVELOPHENT PROJECT REDEVELOPRENT REDEVEI;OPMENT LOW/xODERATE SOURCES PROJECTS PROJECTS INCOP[E HOUSING BEGINING BALANCES 424,394 902,045 0 PROPERTY TAX INCREI4EIIT 378,650 1,036,,300 0 OTHER REVENUES 44-,500 120,000 10,000 TRANSF'ERS_IN FRO!( OTHER FUNDS .1'38,310 0 207,000 BOND / LOAN PROCEEDS 0 0 0 TOTAL.. SOURCES OF FUNDS 985,854 2,058,245 217,000 USES========= n SALARIES AND BENEPITS 24,000 0 9,000 SERVICES AND SQPPLIES 96,600 106,500 18,600 DEBT SERVICE I~ID OTHER 203.;815 433,988 0 • PROPERTY ACQOISISTION 0 0 0 PROPERTY IldtPROVEHENTS 126,400 200,000~~ 4 TOTAL EXPENDITURES450,815 740,488 27,600 TRANSPERS OOT TO OTHER FUNDS 0 345,310 0 TOTAL USES 450,875 1,085',198 2T,600 ENDING BALANCE 534.,979 972,447 ~ 189,400 RESERVES FOR DEBT SERVICE AND PROJECTS 253,975 910,2 0 ~ . ENDING BALANCE AVAILABLE 281,004 ~ 2,247 189;400 08-Feb-9 (PCOCDEBT) PETALUMA COMMUNITYf DEVELOPMENT COMMISSION ANNUAL DEBT SERVICE SUMMARY FY 1989-90 CENTRAL BUSINESS DISTRICTPROJECT AREA COMMUNITY DEVELOPMENT . ~ PROJECT ARER t484 1986 1406 1916 1985 .1'985 1961 TAX ALLOCATION .SPECIAL PARKING GENERAL FUND PATER FUND PARK FUND PARK FUND 1998 TAX BON05 ASSESSMENT CREDIT LOAN LOaN IOAY ~ IORN ALLOCATION PAYMENT - AGREEMENTS NOTES AMOUNT OF OkIGINAI ISSUE 1,Q15,000 20,328 1.,;060,630 (est) 56,200 143.,198. 64,500. 25,.0.00 4,195..,000 OUTSTANDING BALANCE AT 1,015,094 19,661 900,000 (est) ~ 33,120 101,986 50,081 22,913 4,195.,000 JUNE 30,' 1989 AUE?AGE INTEREST RATE 9,30X 7.96X ~ N/A O.OOX 1,00X. 1.OOX 7.001 ~ 10,75Y DATE OF MATURITY 05/15/I0 09/01/04 09/01/04 06/30/95 09/01/95 09/0]/95 09/01796 11/01/93 FISCAL AGENT ADMINISTRATI-0N 3,500 16 0 0 0 0 _ 0 4,000 QEBT SERVICE PRINCIPAL 0 661 59,800 5,620 12,441 5,494 2,.233 0 DEBT SERVICE INTEREST 99,975 1,494 0 0 1,559 3,506 1,604 429,988 ANNUAL DEBT SERVICE 103,415 2,171 59,800 5,620 20,000 9,000 3,831 433,988 PCDC' CENTRAL BUSINESS DISTRICT " FY 86-95 ASSESSED VALU£ GROWTH - Ivlill`ions $80. 6.01%j 6.01% 6.0196 ~ • :j 6.01% , 560 ~ 9.st% ~ i ~ \\;y A; 6.7'6'% 2:79:96- ~ ~C~ 7.58% 3.16%' ~ n\,~ ~ ~ ~ ~i i su 85-86 86-8T 87-88 88-89 89-90 90-91 91-92; 92-93 93-94 94-95 _ PROJECTED BAS£ YEAR 76-77 AV ~ ~ CURRENT Y,R .AV HASE FY 76-77 AV S18,83a.170 CEI~dTRAL `BUSINESS DISTRICT- FY 86-95 REVENUE-GROWTH/DEBT SEId~IICE Thoa_sands $600 a.3o a.44 5500. ~ a.os a.17 1.8a 1.,93 1.64 $ 400. 1:56 1.7 7 1:78.. $'300, - $ 200 5:100: $0 85-86 86-87 87-88 88-89 89-90' 90-41 91-92 92-93 93-94 94-95 PROJECTED ®TAX INCREMENT REV ANNUAL DEB? SERV 'RATIO OF ANNUAL REV TO DEHT SERV ' PETALUMA COMMUNITY DEVELOPMENT COMM'ISSLON FY 1989-90 BUDGET CENTRAL. BUSINESS DISTRICT PROJECT AREA 8510 DOVNNTOWN PROJECT ' ' FY 86-81 F.Y 87-88 FY_ 88-89 ~I F't 89-90 VARIANCE FRO1~ PRIOR ACTUAL ACTUAL ESTyIAATED I •BUDGET 'TEAR ESTLHATED ACTUAL ACTUAL AHOUNT PERCENT ------------------------i SOORCES ~ BEGINING BALANCE. • AVAILABLE 350,650 431,130 386,'363 i .324,419 (6T,944) -16.0$ FISCAL AGENT RESERVE 199,:950 199,950 99,995 I 99.,.975 0 0.0$ REVENUES PROPERTY TAX INCRE1dENT 2?4.,370 313,606 346,.412 i 378,:650 32,238 9..3$ INTEREST EARPfINGS 16,849 34,908 30,000 I 30.,000 0 0.:0$ STATE SUPPLEPt1EXENTAL 18,849 30.,116 24,747 5,000(19,147) -79.8$'. . SALE. OF PROPERTY 13.,963 0 ~ 0 i S~ 0 0.0$ PARKING L0T REVENUES 900 7,.480 9,,360 I 9, 140 1.5$ MISCELLANEOUS REVENUE 5,.640 1.,148 0 0 0 0,0$ TOTAL REVENUES 330:,571 .381,258 410;519 i 423 150 12 631 3.1~ TRANSFERS IN 34,362. 0 0 i 138.,310' 138.,310 '100..0$ .BOND/LOAlI PROCEEDS - 0 25,000 0 0 0 0.0$ . ------915 533---1 049,938-------896,857-~ -------985,854---------88,:997 9..9$ TOTAL SOURCES OF FUNDS . PETALUMA COMMUNITY DEVELOPMENT COMMIS510N FY 1989-90 BUDGET CENTRAL $USINE'SS DISTRICT PROJECT AREA 8510 DOVIINTOWN PROJECT FY 86-81 FY 87-88 FY 88-89 i FY 89-90 VARIANCE FROM PRIOR ACTUAL ACTUAL ESTIMATID BUDGET YEAR ESTIMATED ACTUAL ACTUAL i A}[OONT PERCENT ------------------------------------------------------------------------------i .USES 4000 SALARIES AND BENEFITS 9,405 1,818 18;.429 i 24,000 5,571 30.2$ 5101 OFFICE SUPPLIES 0 0 481 i~ 500. 13 2.7$ 5104 .PERIODICALS 6 SUBS 0 0 200 I •200 0 0.0$ 6410 MEETINGS/CONFERENCES 0 0 12 I 0 (12 -100.0$ 6210 POSTAGE 0 0 69 I 0 (69) -100.0$ 6610 NOTICES AND POBLICATIOKS 0 0 377 I 0 (317) -100.0$ 6104 PROFESSIONAL SERVICES 15,736' 34.,242 13.,583 I 30,000 16,417 120.9$ 6602 ASS~IATIOff 1{EMEBERSHIPS 0 0 0 I 600 600 1~.0$ 6301`ELECTRICTY 0 0 273 I 300 27 9.9$ 6160 COMMUNITY PROMOTION 15,115 20,000 20,000 I 20,000 0 0.0$ 6161 ADMINISTRATIVE COSTS 12,806 12,521 20,0 35.,000 15;000 75.0$ 6199 PROPERTY MNTC/OPERATIOftS 5,638 11,104 6,300 i 10,000 3,100 58:7$ 6104 FISCAL AGENT FEES 3,400 3,393 3,400 i 3.,400 0 0.0$ 6740 Di4NTMH ASSMT REIMBURSMEIiT 34,362 46,259 52,663 I 59,800 7,13T 13,6$ • 6700 DEBT SERVICE - ANDS 99:,.975 99,915 99,975 99,975 0 0.:02 67~ DEBT SERVICE -~`L01~1iS 69,620 68,193 45,.870 i 38,500 (7,370) -16.1$ 6700 DEBT SERVICE - ASSxPS 1;302 3,032 2;004 I 2,200 196 9.8$ 1103 PROPERTY ACQ COSTS 1,532 0 0 ~ 0 (79,230) 0.0$ 1104 PROJECT IKPROVEMEKTS 2,,302 228 344 79 230 126 400 47 170 0.0$ TOTAL EXPENDITURES 211,853 534,881 362,8T2 i 450,875 88,003 0.0$ TRANSFERS OUT/OTHER OSBS 0 28,719 109,591 i 0 0 0.0$ TOTAL USES --217,853 _ 563,6 ----__472,463_I --wM-450,875 --~---(M21,588)--------0-0$ - -I ENDING BALAKCE 637,680 486,338 424,394 i 53,979 110,585 0.02 -----------I 0 -------0.02 RESERVED FORD BALANCB FUTURE LAND ACQOISIlIOA 154,000 154,000 154,000 ~ 154,0 RIVERGIALK PHASE II 225,000 0 0 ~ 0 0 0.02 RESERVED FOR DEBT~SERVICB T99,950 99,975 99,915 i - 99,915 0 0.0$ 58 730 232.363 170 419 ~ 281 004 110,585 64.9$ FUND BALANCE AVAILABLE. , ~ ~ ~ PCDC COMMUT~IITY DEVELOPMENT PROJECT AREA FY 88 T,O FY 95 SSESSED VALUE GROWTH Millions 5700 - 7.3% 7.a% S 6 0 0 ~ ~ . 7,2% 7~.3% 5500 17.8 7 296 ~f ~ - 7.996 ~ > ~ ~ ~ ~j S 4 0 ; o~ c,~ ~ , C~ 1 \~.j,,, ' 300 ~ \ S 20.0 A~ V~\; ~A~ ~A\ S 100 j ~ ~ ~ i 87-88 88-89 89-90 90-91 91-92 92-93 93-94 94-95 PROJECTED BASE YEAR 87-88 AV CURRENT YR AV - BASE YR 87-88 AV S331,515',333 CO~IIMUI~~ITY DEVELOPM=ENT PROJECT AREA FY 8~ TO FY 95 REVENUE GROWTH Millions $4000 $'3500 $3000 52500 r 5:2000 ~ $.1500 $1:000 $500 S 0 , 88-89 89-90 90-91 91-92 92-93 93-94 94-95.. PASS THitOU6H A6BrITS L/M HOUSING NEY REVENUE • PETALUMA COMMUNITY DEVELOPIViENT COMMISSION ` FY 1989-90 BUDGET COMMUNITY DEVELOPn/9ENT PROJECT AREA 8530 AUTO CENTER PROJECT FY 86'-87 FY 81-88 FY 88-89 i F.Y 89-90 VARIAIICE FROR PRIOR. ACTUAL ACTUAL ESTIMATED BUDGET TEAR ESTIMATED ACTUAL ACTUAL i AMOONT PERCENT ----I SOURCES ~ BEGII(ING BALANCE______________________ AVAILABLE 0 0 0 i 264,142 264,142 100..0$ FISCAL AGENT RESERVE 0 0 0 I 637,903 637,903 100.0$ REVENUES PROPERTY TAX INCREMENT 0 0 0 I 1,036,200 1,036,200 100.0$ INTEREST EARgINGS 0 0 59,610 I 10,000 10,390 17.4$ . STATE SUPPLEMENTAL 0 0 O I 0 0 0.0$ SALE OF PROPERT=Y 0 0 0 S0;0~• ~ 50,000 100.0$ PARKING LOT REVENUES 0 0 0 ~ 0 0 0.0$ MISCELLANEGUS REVEKOE 0 0 O.I 0 0 0.0$ emu, ggVgppF,S 0 0 59,610 i 1,156,20A 1,096-,590 1839.6$ TRANSFERS IN 0 28,719 109,591 ~ 0 (109,591) -100.0,$ BOND/LOAN PROCEEDS 0 0 4 195 000 0 (4,195,0 •100.0$ TOTAL SOURCES OF FUNDS 0 28,.719 4,364,201 i 2',058',245 (2,305,956) 52.8$ PETALUMA COMMUNITY DEVELOPMENT COMMISSION FY 1989-90 BUDGET COMMUNITY DEVELOPMENT FflOJECT AREA 8530 AUTO CENTER PROJECT FY 86-87 FY 87-88 FY 88-89 ~ FY 89-90 VARIANCE FROI{ PRIOR ACTUAL ACTUAL ESTIMATED , BUDGET 'SEAR ESTII4ATED ACTUAL ACTUAL AMOUNT PERCENT --------------------------------------------------------------------i USES 4000 SALARIES AND BENEFITS 0 i 0 0 0.0$ 5101 OFFICE SUPPLIES 467 i 1.,000 533 114.1$ 5104 PERIODICALS & SUBS 0 ~ 200 200 100.0$ 6410'MEETINGS/CONFERENCES 478 1,500- 1,022 213.8$ 6210 POSTAGE 4,875 i 200 , (4:,675) -95.9$ 6104: PROFESSIONAL SERVICES 28,719 82,836 70;000 (12;836') -15.5$ 6602 ASSOCIATION:1{EMEBERSHfi°PS~ 935 i 600 (335) -35.8$ b161 ADKINISTRATIYE COSTS 20,000 30,000 10,000 50'.0$ 6199 PROPERTY 14(TC/OPERATIONS 0 i 3,000 3,000 100.0$ 6104 FISCAL AGENT PEES 1,240 i 4,000 2,:160 222.6$ 6700 OEBT SERVICE - BONDS 214,994 I 429;988 214,994 100.0$ 6750 OTHER SPECIALEXPENDITURES 238,592 i 0 (238,592) -100.0$ 7103 PROPERTY ACQ COSTS 2,;897.,739 ~ 0 (2,,897,739) -100.0$ 7104 PROJECT I14PROVE}~ENTS ~ 0 I 200,000 20D,0~ 100.0,$ TOTAL EXPENDITURES 0 28 119 3 462 156 740 488 2 121 668 78.6$ TRANSPERS.OOT/OTHER OSES 0 0 0 i 345,310 345,310 100.0,$ TOTAL OSES _--___0 =____28,719 ____3,462,:156-i N___''1,085,198=_-=_2,316,358')== -___68_6$ -I ENDING BALANCE 0 0 902,045 I 912,441 10,402 1.8$ ----------------------------------------I RESERVED FUND BALANCE FOR DEBT SERVICE - 430,:163. 430 200 37 0.0$ FOR CAPITALIZED I~iTSRBST 201,740 ~ 0 (201,740) -100.0$ FOR ,AUTO°`PROJ&C! 0 i 540,000 540,000 100.0$ F[JND'BALANCE AVAILABLE 0 0 264,142. 2,241 (261;895) -99.1$ PCDC COMMUNITY DEVELOPMENT PROJECT AREA LOVE/'MODERATE INCOME HOUSING FUND Thousands $400, i 5300; _ i i i 5200' ~ i, i Sloor I SO 88-89 89-90 90-91 91-92 92-93 93-94 94-95 HQUSING SET ASIDE STATE LAW REQUIRES A$ET,ASIDE, OF 20% OF THE ANNUAL TAX INCREMENT?GENERATED BY THE PROJECT AREA. PETALUMA COMMUNITY DEVELOPMENT COMMISSION • FY 1989-90 BUDGET ~.L-OW/MODERATE INCOME HOUSING 903 5410 HOUSfNG ADMINISTRAT1OiV FY 86-81 FY 87-88 FY 88-89 i FY 84-90 'VARIANCE FROM PRIOR ACTUAL ACTOAL ESTIMATID I BUDGETYEAR ESTIMATED ACTUAL; ACTUAL I AMOUNT" PERCENT ------------------------------------------------------------------------------i SOORCES BEGINING BALANCE ~ . AVAILABLE 0 0 O i 0 0 0.0$ REVENUES 3513 INVESTMENT INTEREST 0 0 0 i 10;000 10,000 100.0$ MISCELLANEOUS REVENUE . - - ------0 0-I' ---M------- 0 ------------0- 0.0$ TOTAL REVENUES 0 0 '0 i 10,000 10,000100.0$ TRANSFERS IN - -------~?-~•-------201,000- 100.0$ ' TOTAL.SOORCES OF FUNDS ~ 0 0 0-I -------217,000_ .21T,000 .100::0$ .