HomeMy WebLinkAboutMINUTES - 04122011 - C.68RECOMMENDATION(S):
ADOPT Resolution No. 2011/50 approving the Fiscal Year 2010/11 Redevelopment
Agency Annual Budget; approving the borrowing of Fiscal Year 2010/11 Low and
Moderate Income Housing Funds to fulfill Supplemental Educational Revenue
Augmentation Fund (SERAF) obligations; authorizing the Redevelopment Agency to
borrow funds from County Housing Special Revenue Funds to pay a portion of its
administrative costs; and authorizing the Redevelopment Agency to pay debt service on
certain Agency bonds from surplus bond loan funds.
FISCAL IMPACT:
None. No General Fund revenues are involved.
BACKGROUND:
Pursuant to California Community Redevelopment Law (Health and Safety Code Section
33606) all redevelopment agencies are required to adopt an annual budget containing
specific information. The recommended budget fulfills the requirement of Redevelopment
Law, and establishes a framework for implementation of the projects and programs of the
Contra Costa County Redevelopment Agency in Fiscal Year 2010/11.
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
Action of Board On: 04/12/2011 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF SUPERVISORS
AYE:John Gioia, District I
Supervisor
Gayle B. Uilkema, District II
Supervisor
Mary N. Piepho, District III
Supervisor
Karen Mitchoff, District IV
Supervisor
Federal D. Glover, District V
Supervisor
Contact: Jim Kennedy,
925-335-7225
I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board
of Supervisors on the date shown.
ATTESTED: April 12, 2011
David J. Twa, County Administrator and Clerk of the Board of Supervisors
By: Carrie Del Bonta, Deputy
cc:
C.68
To:
From:Jim Kennedy, County Redevelopment Director
Date:April 12, 2011
Contra
Costa
County
Subject:Adoption of Fiscal Year 2011 Redevelopment Agency Budget
This
BACKGROUND: (CONT'D)
budget presentation contains the following sections:
1. Introduction and Overview
2. Project Area Budgets including:
• Sources and Uses Budget
• Project Descriptions
• Summary of Indebtedness
3. Work Program for Fiscal Year 2011 including:
• Project Area Goals and Objectives
• Achievements in Fiscal Year 2010
4. Blight Progress Report
5. Loan Status Report
6. Property Status Report
The Agency is cognizant of the need to contain its administrative costs in the future years
to eliminate the need to borrow and has taken the initial steps in streamlining its
operations and staffing to address this problem.
CONSEQUENCE OF NEGATIVE ACTION:
Failure to adopt a Redevelopment Agency Budget for Fiscal Year 2010/2011 would leave
the Agency out of compliance with State Law.
CHILDREN'S IMPACT STATEMENT:
Not applicable
ATTACHMENTS
Resolution No. 2011/50
RDA.Budget