HomeMy WebLinkAbout19D - CRA ANNUAL REPORT 2009-2010REQUEST FOR
COUNCIL ACTION
CITY COUNCIL MEETING DATE:
DECEMBER 6, 2010
TITLE:
COMMUNITY REDEVELOPMENT AGENCY
ANNUAL REPORT FOR FY 2009-2010
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CITY MANAGER
RECOMMENDED ACTION
CLERK OF COUNCIL USE ONLY:
APPROVED
? As Recommended
? As Amended
? Ordinance on 1" Reading
? Ordinance on 2nd Reading
? Implementing Resolution
? Set Public Hearing For_
CONTINUED TO
FILE NUMBER
Receive and file the Community Redevelopment Agency Annual Report for FY 2009-2010
consisting of:
1. The Annual Audit Report as prepared by Macias Gini & O'Connell, LLP;
2. The Annual Report of Financial Transactions;
3. Housing and Community Development Report of Housing Activity of Community
Redevelopment Agencies;
4. Annual Statement of Indebtedness; and
5. All other information as required pursuant to California Redevelopment Law.
DISCUSSION
The California Health and Safety Code, which defines the powers and duties of redevelopment
agencies, requires the submittal of an annual report to the legislative body within six months of the
end of the fiscal year. The 2009-2010 Annual Report must contain five major components: an
independent audit report, a fiscal statement for the year, a description of the Agency's activities
affecting housing and displacement, a Statement of Indebtedness, and Agency Time and Financial
Limits. Following receipt of these documents by the City Council, the report will be submitted to
the State Controller's office pursuant to California Redevelopment Law.
Audit Report
The firm of Macias Gini & O'Connell, LLP has completed the Audit Report, with a separate
opinion on compliance. The Executive Director of Finance and Management Services has
reviewed the audit and separate opinion on compliance and has determined that financial
accounting and State Controller's guidelines have been met.
2. Annual Report of Financial Transactions of Community Redevelopment Agencies
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CRA Annual Report for FY 2009-2010
December 6, 2010
Page 2
The Annual Financial Report delineates the financial activities for all funds within the
redevelopment fund. Additionally, the report documents the achievements completed
during the fiscal year as a direct result of the activities of the Community Redevelopment
Agency.
3. Housing and Community Development Report of Housing Activity of Community
Redevelopment Agencies
In addition to general Agency financial transactions, the Housing and Community
Development Annual Report contains information regarding the low and moderate-income
housing fund and a description of the effect of redevelopment activities on housing in
general.
4. Annual Statement of Indebtedness
The Annual Statement of Indebtedness is the annual report filed with the County Auditor
describing Agency indebtedness and a reconciliation statement.
5. Agency Time and Financial Limits
In 2007, the State Legislature adopted SB437, which included a provision requiring all
redevelopment agencies to incorporate specific information regarding time limits into the
Annual Reports. The legislation requires the list of the following time limits:
1) The time limit for the commencement for eminent domain proceedings to acquire
property within the project area.
2) The time limit for the establishment of loans, advances, and indebtedness to finance the
redevelopment project.
3) The time limit for the effectiveness of the redevelopment plan.
4) The time limit to repay indebtedness with the proceeds of property taxes.
In compliance with this legislation, the redevelopment time and financial limits are included in the
Annual Report.
The Health and Safety Code mandates that the Annual Report be received by the City Council and
filed with the State Controller's office prior to December 31, 2010.
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CRA Annual Report for FY 2009-2010
December 6, 2010
Page 3
FISCAL IMPACT
There is no fiscal impact associated with this action.
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Cynthia J. Nelson
Deputy City Manager for Development Services
Community Development Agency
CJN/NTE/mlr
Exhibit: 1. CRA Annual Report for FY 2009-2010
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