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R-521ATTACHPAENT E3 City Council Meeting 6-15-10 Santa Monica, California RESOLUTION NO: 521 {RAS) {REDEVELOPMENT AGENCY SERIES} A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA APPROVING ITS BUOGET FOR THE FISCAL YEAR 2010-11 WHEREAS, the proposed budget for the fiscal year 2010-11 was submitted to the Redevelopment Agency as directed by Section 33612 of the California Health and Safety Code; and WHEREAS, the Redevelopment Agency held a public hearing on said budget after a notice. of said budget hearing was published not less than ten (10) days prior thereto; and WHEREAS, after said public hearing, the Redevelopment Agency .considered further its proposed budget, NOW THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA RESOLVES AS FOLLOWS: SECTION 1. The budget as submitted by the Executive Director and revised by the Redevelopment Agency, entitled "City of Santa Monica, Proposed Budget, 2010-11" {Budget), is hereby approved and adopted. In adopting the Budget, the Redevelopment Agency intends to, and by this Section does, adopt and approve the total operating appropriation, consisting of Salaries and Wages and Supplies and Expenses {including 1 Capital Outlay) major expenditure categories, Capital Improvements budget, and the revenue detail. The Executive Director is authorized to allot as appropriated. A copy of the Budget is attached hereto as Exhibit A. SECTION 2. The schedules attached hereto entitled "Fiscal Year 2010-11 Schedule of Redevelopment Reimbursements to the General Fund", constitutes the Redevelopment Agency's indebtedness in accordance with California Health and Safety Code Sections 33670 ET. SEQ. of Project Areas so indicated, and replaces for fiscal year 2010-11 Exhibit 1 to the Reimbursement Agreement entered into between the Redevelopment Agency and the City on November 22, 1994. SECTION 3. A certified copy of the Budget shall be filed with the Director of Finance and with the City Clerk, and certified copies of the Budget shall be reproduced and made available for use as directed by Section 1505 of the Charter of said City. SECTION 4. In adopting the. Budget, the Redevelopment Agency does hereby re-appropriate the unencumbered balances and unexpended encumbrances of the fiscal year .2009-10 Capital Improvements budget in an amount not to exceed $128,940,487. SECTION 5. The Secretary shall certify to the adoption of this Resolution, and thenceforth and thereafter the same shall be in full force and effect. Redevelopment Agency 2 APPROVED AS TO FORM: ATTACHMENT E3 FISCAL YEAR 2010-11 SCHEDULE OF REDEVELOPMENT REIMBURSEMENTS TO THE GENERAL FUND PROJECT AREA (FUND #) AMOUNT DESCRIPTION Low/Moderate Income Housing 1151 $ 156,800 - Lease payment for development of 175 Ocean Park Boulevard Housing Project pursuant to Payment Agreement of May 8, 1984. $ 141,000 - Staff time, associated benefit costs and bank service fees Total 15 Fund $ 297,800 Downtown f161 $ 172,322 - Staff time and associated benefit costs $ 181,900 - Earthquake insurance on parking structures $ 59,700 - Community Corporation of Santa Monica grant for development of low/moderate income housing projects $ 20,278 - Administrative costs, including contributions to Self-Insurance Funds, rent, fiscal agent fees, conferences, meetings and travel, bank service fees and office supplies Total 16 Fund $ 434,2D0 3 ATTACHMENT E3 FISCAL YEAR 2010-11 SCHEDULE OF REDEVELOPMENT REIMBURSEMENTS TO THE GENERAL FUND PROJECT AREA (FUND #1 AMOUNT DESCRIPTION Earthquake Recovery (171 (A) General Fund $ 3,587,326 - Staff time and associated benefits costs $ 99,500 - Community Corp of Santa Monica $ 1,074,042 -- Administrative costs, including contributions to Self-Insurance Funds, professional and legal services, building structure and maintenance, rent, fiscal agent fees, conferences, meetings and travel, bank service fees, training and office supplies Total 17 Fund $ 4,760,868 Ocean Park (18) $ 125,883 - Staff time and associated benefits costs $ 66,600 -- Community Corporation of Santa Monica grant for development of low/moderate income housing projects $ 15,232 - Administrative costs, including contributions to Self-Insurance Funds, rent, fiscalagent fees, conferences, meetings and travel, bank service fees, office supplies, and maintenance of public access area Total 18 Fund $ 207,715 4 Adopted and approved this 15'"day of June, 010. ~~ Bobby S river, Chair I, Maria M. Stewart, City Clerkof the City of Santa Monica; do hereby certify that the foregoing Resolution No. 521 (RAS) was duly adopted at a joint. meeting of the Santa Monica City Council and the Redevelopment Agency held on the 15ih.day of June, 2010; by the following vote: Ayes: Agency members: Noes: Agency members: Abstain:. Agency members: Absent:. Agency members: Bloom, Davis, Holbrook, McKeown, O'Day Chair Shriver, Chair Pro Tem O'Connor None None None ATTEST:.. ~- Maria M. Stewart, Agency Secretary