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Home My WebLink About062104 RESO Approving FY2004-05 CDA BudgetREQUEST FOR AGENCY ACTION E° "ni9r AGENCY BOARD MEETING DATE: JUNE 21, 2004 TITLE: RESOLUTION APPROVING FISCAL YEAR 2004 -2005 COMMUNITY REDEVELOPMENT AGENCY BUDGET zzp� - Cz EXECUTIVE DIRECTOR RECOMMENDED ACTION AGENCY SECRETARY USE ONLY: APPROVED ❑ As Recommended ❑ As Amended ❑ Ordinance on 151 Reading ❑ Ordinance on 2nd Reading ❑ Implementing Resolution ❑ Set Public Hearing For CONTINUED TO FILE NUMBER Adopt Resolution No. CRA 2004 -08 approving the fiscal year 2004 -2005 budget of the Community Redevelopment Agency as identified in the City of Santa Ana's Annual Budget. COMMUNITY REDEVELOPMENT AND HOUSING COMMISSION RECOMMENDATION Recommended that the Community Redevelopment Agency adopt a resolution approving the fiscal year 2004 -2005 budget of the Community Redevelopment Agency as identified in the City of Santa Ana's Annual Budget. By a vote of 7:0 at its Regular Meeting of June 15, 2004. Consistent with California Redevelopment Law, the annual funding plan for the Community Redevelopment Agency must be approved by resolution of the Agency. The proposed budget for the Community Development Agency for fiscal year 2004 -2005 is $86,354,785. Of that amount, $38,994,170 (45.1 percent) is property tax increment revenue from the six redevelopment project areas, and $26,949,610 (31.2 percent) is from the HUD Section 8 Voucher program. The tax increment revenue of $38,994,170 is allocated to support the programs and projects of the Community Redevelopment Agency, including the payment of debt service and obligations totaling $16,704,255 (42.8 1 Al Resolution Approving the Fiscal Year 2004 -2005 Community Redevelopment Agency Budget June 21, 2004 Page 2 percent), payment to the Low and Moderate - Income Housing Fund totaling $10,318,955 (26.4 percent) pursuant to California Redevelopment Law, payment of pass- through obligations to other taxing districts totaling $5,749,500 (14.8 percent), management and administration of the six redevelopment project areas totaling $4,621,460 (11.9 percent), and the funding of eligible capital projects totaling $1,600,000 (4.1 percent). FISCAL IMPACT The fiscal year 2004 -2005 Community Redevelopment Agency budget reflects the sum of the appropriations for debt service, contractual, capital projects, and administrative obligations in the six redevelopment project areas and the Housing Set -Aside fund. Aelb JOV P. Reekstin Executive Director JPR /NTE /kla H: Actions\2004CRAV 2esoAprvgFY04- 05CRABudget- 6 -21 -04 4 2 APPROVED AS TO FUNDS AND ACCOUNTS: Executive Director Finance & Management Services Agency 06/11/02LS RESOLUTION NO. CRA 2004 -08 A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA ADOPTING THE FISCAL YEAR 2004 -2005 BUDGET BE IT RESOLVED BY THE MEMBERS OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, AS FOLLOWS: 1. Findings. The Community Redevelopment Agency of the City of Santa Ana conclusively finds, determines and declares as follows: a. Pursuant to Health & Safety Code § 33606, the Community Redevelopment Agency of the City of Santa Ana ( "Agency ") must adopt an annual budget. b. The draft budget for fiscal year 2004 -2005 presented to the Agency is designed to further implement the Agency's mandate to reduce or eliminate the physical and economic conditions that cause blight within the City of Santa Ana. The Projects are consistent with the 5 -Year Implementation Plan, the Redevelopment Plans (as amended) and the reduction and /or elimination of blight. C. The Legislature has concluded that the term "redevelopment" includes provision for open -space types of use, such as streets and other public grounds and space, and the replanning or redesign of stagnant or improperly utilized areas which exist because of defective or inadequate street layout. d. The Agency hereby finds and determines that the planning and administrative expenses to be paid from the Low and Moderate Income Housing Fund for each redevelopment project are necessary for the production, improvement, or preservation of low - and moderate - income housing pursuant to Health and Safety Code § 33334.3(d) and are not disproportionate to the amounts budgeted for the costs of production, improvement or preservation of that housing. Such costs are necessary and proportionate to the amount proposed for actual housing assistance activities for the year. e. The Agency has retained certain interests in real property acquired using moneys from the Low and Moderate Income Housing Fund, and has not initiated activities consistent with the development of the property for the development of housing affordable to persons and families of low and moderate income within the statutory five (5) year period. The addresses of the two properties are as follows: 622 N. Lacy and 625 N. Garfield. The Agency intends that these two properties shall be used for the development of housing affordable to persons and families of low and moderate income, and hereby requests a five (5) year extension in furtherance of said purpose pursuant to Health and Safety Code § 33334.16. f. The Agency will satisfy the ten (10) year Education Revenue Augmentation Fund ( "ERAF ") debt obligation this fiscal year with the final annual payment of One Million Fifty Eight Thousand Thirteen Dollars ($1,058,013). 3 06/11102LS g. The Agency adopts by reference and incorporates as though fully set forth herein each and every finding contained in the supporting documentation which accompanies the draft budget for fiscal year 2004 -2005, including but not limited to the June 1, 2004 memorandum from the Executive Director to the City Manager, the letter from the City Manager to the Honorable Mayor and City Council Members, and the June 17, 2004 staff report from the Executive Director to the Agency, together with all exhibits attached to said documents. h. The draft budget for fiscal year 2004 -2005, together with the supporting documentation presented to the Agency, complies in all respects with the requirements of the Community Redevelopment Law, including but not limited to Health & Safety Code § 33606. i. For those expenditures proposed which are outside a project area in the draft budget for fiscal year 2004 -2005, the Agency finds and declares that such expenditures will be of benefit to the project area. This finding is made pursuant to Health & Safety Code § 33334.2(g)(1). j. The Agency finds and declares, pursuant to Health & Safety Code § 33420.2, that because of the magnitude and severity of the graffiti within its project areas, any actions that the agency determines are necessary to remove graffiti from public or private property may be taken in order to effectuate the purposes of the redevelopment plan, and such removal actions shall assist with the elimination of blight, as defined in section 33031. k. The Agency finds and declares, pursuant to Health & Safety Code §33445 that certain publicly owned improvements shall be constructed or improved, financed partially or wholly, as determined by the Executive Director, with Agency funds within or without the project areas, thereby constituting debt of the Agency. The legislative body has determined that the facilities, structures or other improvements are of benefit to the project area or the immediate neighborhood in which the project is located; no other reasonable means of financing the buildings, facilities, structures, or other improvements are available to the community; and the payment of funds for the cost of the facilities, structures or other improvements will assist in the elimination of one of more blighting conditions inside the project area or provide housing for low- or moderate - income persons, and is consistent with the implementation plan adopted by the Agency pursuant to Health & Safety Code §33490. I. The Agency has reviewed the Cooperative Agreement between the Agency and the City and hereby updates and reaffirms said Agreement. 2. Adoption of Budget. The fiscal year 2004 -2005 budget of the Community Redevelopment Agency of the City of Santa Ana is hereby approved and adopted pursuant to Health & Safety Code § 33606. ADOPTED this day of APPROVED AS TO FORM: Joseph W. Fletcher, General Counsel By: Lisa E. Storck Assistant General Counsel AYES: NOES: Boardmembers: Boardmembers: ABSTAIN: Boardmembers: NOT PRESENT: Boardmembers: 06 /11 /02iS 2004. Miguel A. Pulido Chair CERTIFICATION OF ATTESTATION AND ORIGINALITY I, PATRICIA E. HEALY, Secretary of the Agency, do hereby attest to and certify the attached Resolution No. CRA 2004 -08 to be the original resolution adopted by the Community Redevelopment Agency of the City of Santa Ana on Date: Secretary, Community Redevelopment Agency y' l