HomeMy WebLinkAboutResolution - RDA 94 - 01 RESOLUTION NO. RDA 94-01
RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
SAN JACINTO, CALIFORNIA, AMENDING THE 1993-94 FISCAL YEAR
REDEVELOPMENT HOUSING FUND BUDGET IN THE AMOUNT OF
$114,168
THE REDEVELOPMENT AGENCY OF THE CITY OF SAN JACINTO DOES HEREBY
RESOLVE AS FOLLOWS:
SECTION 1. The Redevelopment Budget for the of the City of San Jacinto for the
Fiscal Year commencing July 1, 1993, and ending June 30, 1994, was approved and
adopted on June 29, 1993.
SECTION 2. The approved Redevelopment Budget is in accordance with all
applicable ordinances of the City and all applicable statutes of the State. The reallocation
of appropriations between departmental activities may be made upon approval of the City
Manager, providing there is no change in the total appropriations as approved by the
City Council.
SECTION 3. Amendments to the Redevelopment Budget shall be by approval and
Resolution of the Redevelopment Agency. At the time of adoption of the budget, the City
Housing Implementation Strategy had not been approved. Therefore, upon the adoption
of the Housing Strategy, it was necessary to revise of the Fiscal Year housing fund
expenditures.
SECTION 4. The Finance Director is hereby directed to increase the
Redevelopment Agency Low-Moderate Income Housing Fund (Fund 99, Dept. 9700) by
$114,188, as further described on Exhibit "A" attached hereto:
MOVED, PASSED AND ADOPTED this 15 day of February, 1994.
AYES: Agencymembers-Leahy, Solorio, Williams , Chairman Hafliger
NOES: None
ABSTAIN: None
ATTEST:
'Chair/
r'
S cretary
CERTIFICATE
The foregoing is certified to be a true copy of Resolution No.— duly passed by the said
Redevelopment Agency of the City of San Jacinto on the date set forth therein.
Secretary
EXHIBIT "A"
LOW-MODERATE INCOME HOUSING EXPENDITURE BUDGET FUND 99
(REVISED 2-15-1994) DEPT. 9700
EXPENDITURES 1993-94 ACCOUNT
CAPITAL IMPROVEMENTS
BROWN & SECOND STREETS $210,000.00 5300
TENTH STREET AREA $ 66,000.00 5300
SAN JACINTO ELEMENTARY SCHOOL $ 50,000.00 5300
SUB-TOTAL $326,000.00
UNIT/LAND ACQUISITION
BROWN STREET LOTS $150,000.00 5100
TENTH STREET AREA $ 45,000.00 5100
ADDITIONAL LOT PURCHASES $ 55,000.00 5100
ACQUISITION OF RESIDENTIAL UNITS $ 74,000.00 5100
SUB-TOTAL $324,000.00
CONSTRUCTION
3-UNITS BROWN STREET $225,000.00 5200
8-UNITS BROWN STREET $ 82,500.00 5200
SUB-TOTAL $307,500.00
LOANS
BROWN ST. OWNER-OCCUPIED REHABILITATION $ 60,000.00 5300
BROWN ST. RENTAL REHABILITATION $ 20,000.00 5300
TENTH STREET RENTAL REHABILITATION $ 60,000.00 5300
FIRST TIME HOME BUYER (2NDS) $ 90,000.00 5300
SUB-TOTAL $2305000.00
DEVELOPER ASSISTANCE
JOINT VENTURE PARTICIPATION $100,000.00 5300
OFF-SITE IMPROVEMENTS/FEE REDUCTIONS $ 25,000.00 5300
PROCESSING/PERMITS/INSPECTIONS $ 30,000.00
SUB-TOTAL $155,000.00
PROFESSIONAL SERVICES
HOUSING MANAGEMENT $ 60,000.00 2710
ARCHITECTURAL/ENGINEERING $105,000.00 2710
LEGAL $ 5,000.00 2710
LOAN PROCESSING $ 10,000.00 2710
TITLE/ESCROWS/APPRAISALS $ 10,000.00 2710
SUB-TOTAL $190,000.00
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EXHIBIT "A"
LOW-MODERATE INCOME HOUSING EXPENDITURE BUDGET
(REVISED 2-15-1994)
EXPENDITURES 1993-94 ACCOUNT
ADMINISTRATION
INSURANCE/BONDS $ 2,000.00 2500
BOND REPAYMENT $ 75,000.00 4100
CDBG LOAN REPAYMENT (SEWERS) $ 90,000.00 4200
OPERATING TRANSFER OUT (ADMIN.) $183,544.00 3450
RESERVE $ 50,000.00
SUB-TOTAL $400,544.00
TOTAL EXPENDITURES $1,9335044.00
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