R-447
FIN:CMD sd:f:\finance\budget\mybudrev\mldrreso
Redevelopment Agency Meeting: Feb. 28, 1995 Santa Monica, California
RESOLUTION NO. 447
(Redevelopment Agency Series)
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
SANTA MONICA AMENDING THE BUDGET FOR THE FISCAL YEAR 1994-95
WHEREAS, the Redevelopment Agency adopted the annual budget for
fiscal year 1994-95 on June 28, 1994; and
WHEREAS, the Executive Director conducted a rn1d-year review during
January and February 1995; and
WHEREAS, the Redevelopment Agency may amend ltS budget by motlon;
NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA
DOES RESOLVE AS FOLLOWS.
SECTION 1. The budget for the fiscal year 1994-95 lS hereby amended
by the revenue adjustment detailed in Exhiblt A
SECTION 2. The Agency Secretary shall certify to the adoption of
this resolution and thenceforth and thereafter the same shall be in full
force and effect.
APPROVED AS TO FORM.
'\ b
flW-LL fLA ." ~ i-tL,
J)'.
Marsha Jones outrie
City Attorne'y
- 75 -
Fund
Low/Moderate
Income Housing
Low/Moderate
Income Housing
Low/Moderate
Income Housing
Downtown
Redevelopment
(16 Fund)
Ocean Park
Redevelopment
i18 Fund)
Miscellaneous
Grants
PROPOSED CHANGES TO FY 1994/95 REVENUE BUDGET
EXHIBIT A
Account Name
1 6 Fund LlM Income
Housing
18 Fund liM Income
Housing
18 Fund UM Income
Housing
Tax Increment Property
Taxes
Tax Increment Property
Taxes
Cal Arts Support Program
Total Change (GrOssI
- 76 -
Increase!
(Decreasel
$139,734
310,266
5,500
(139,7341
(310,266)
10,861
$16,361
Comments
To reflect use of deferred
tax Increment revenue for
low and moderate Income
housing purposes.
To reflect use of deferred
tax Increment revenue for
low and moderate Income
housing purposes
To reflect Interest earnings.
Transfer of 20% lowl
moderate mcome housmg
tax Increment revenue to
Lowl Moderate Income
Housing Fund
Transfer of 20% fowl
moderate Income housmg
tax Increment revenue to
Low! Moderate Income
Housing Fund
To reflect grant from the
California Arts Council to
be used for arts related
projects
Adopted and approved tlus 28th day of February, 1995
tJ~
- Chair
I hereby certIfy that the foregomg ResolutIon No 447 (RAS) was duly adopted at a
meetmg of the Redevelopment Agency held on the 28th day of February. 1995 by the
followmg vote
Ayes Agency Member
Abdo. Genser. Greenberg, Holbrook, Ebner. Rosenstem.
O'Connor
Noes Agency Member
None
Abstam Agency Member
None
Absent Agency Member
None
ATTEST
~ek/
./ Secretary??