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
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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
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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
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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
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Adopted and approved this 15'"day of June, 010.
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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:..
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Maria M. Stewart, Agency Secretary