HomeMy WebLinkAboutMINUTES - 04171990 - 1.75 _ 1-975
75
TO: REDEVELOPMENT AGENCY __:. o,
FROM: PHIL BATCHELOR,
Contra
EXECUTIVE DIRECTOR `✓Wl�
DATE: April 17, 1990 `�.s COUMY
TA o K.
e
SUBJECT: Appropriation Adjustment Fiscal Year 1988-89 .
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
Approve appropriation adjustment in Redevelopment Agency 1988-89
Fiscal Year budget.
FISCAL IMPACT
None.
BACKGROUND/REASONS FOR RECOMMENDATIONS
The Redevelopment Agency' s 1988-89 adopted budget contemplated the
retirement of a portion of the Agency' s long-term debt to the
County. The source of repayment was to be the proceeds of the
Agency' s 1987 Tax Allocation notes. The Agency intended to utilize
note proceeds to retire said long-term debt to the extent that it
was not utilized on acquiring land necessary for the construction
of the Bancroft _ extension. Negotiations with respect to the
purchase of said land did not get consummated until late in Fiscal
Year 1988-89. This resulted in the loan repayment to the County
not being made until the following Fiscal Year.
The appropriation adjustment also reclassifies the purchase of the
former Southern Pacific right-of-way (Hookston Station) necessary
for the construction of the Bancroft extension from land/building
acquisition to right-of-ways and easements.
The Agency' s 1988-89 budget contemplated expenditures and off-
setting revenues in the amount of $13 million for land acquisition
and relocation expenses related to the Park Regency project. The
assemblage of the property occurred without funds being required to
be deposited with the Agency as contemplated when the budget was
adopted.
CONTINUED ON ATTACHMENT: YES SIGNATURE: '
RECOMMENDATION OF EXECUTIVE DIRECTOR RECOMMENDATION , AGEN COMMI
APPROVE OTHER
V
SIGNATURE(S) :
ACTION OF AGENCY ON April 17, 1990 APPROVED AS RECOMMENDED X OTHER
VOTE OF COMMISSIONERS
I HEREBY CERTIFY THAT THIS IS A
X UNANIMOUS (ABSENT ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE REDEVELOPMENT
AGENCY ON THE DATE SHOWN.
cc: Redevelopment Director ATTESTED April 17, 1990
CAO PHIL BATCHELOR,
Auditor-Controller AGENCY SECRETARY
County Counsel
BY DEPUTY
SRA4/jb/apropadj .bos
*For • '-38-'89 -- Prior Year 1-07 Or- AUOITOR-CONTROLLER tJqF ()NtY
DO NOT ENTER IN CURRENT BUDGET CONTRA COSTA COUNTY FINAL APPROVAL NEEDED or
FOR FILE PURPOSES ONLY a] klk-;NCIL�
APPROPRIATION ADJUSTMENT
T/C 2 7 8 0 A 1110 S
COUNTY ADMINISTRATOR
ACCOUNT CONIC BUDGET UNIT. 7891 - Pleasant Hill BART RDA Construction
ORCANIZATION El PENCITURE
3911-ACCOUNT EXPENDITURE ACCOUNT DESCRIPTION <OECREAS�> - INCREASE
400 10(
7891 3505 Retire of Other Long Term Debt 1,500,000 : 00 1
7891 4019 Land Building Acquisition 2,000,000 100 11
7891 3540 Rights-of-Wa'v and Easements ?,600,000 100
0990 6301 Reserve for Contingency I 900,000 :00
0990 6301 Appropriable New Revenue 900,000 00
TOTALS 4,400$000 '100 3,500,000 "00
"APPROVED EXPLANATION OF REQUEST
T'
AUDITOR-ft'
Rt
Decrease aDDrooriation for loan repayment to the
/
6 County not made, and reclassify purchase of Hookston
By:
Station from Land Building Acquisition to Rights-of-
d'OUNTY APMINISTR TM Way and Easements.
: Funds received from Fund 2891051 reduced" by-same
By: Dot* amount.
7891 net County costs remain unchanged.
BOARD OF SUPERVISORS SEE NOTE ABOVE.*
n.
YES:
NO: None
Absent: None
Abs rin: one 0ejpJ7 A rec�0
Z
SIGNATURE TITLE DATE
Date
By: f4 6i� APPROPRIATION A200 4780
ADJ JOURNAL NO.
(M 124 Pow 2/46) INSTRUCTIONS ON REVERSE SIDE
!For ' 88-189 Prior Year
DO NOT ENTER IN CURRENT BUDGET CONTRA COSTA COUNTY
FOR FILF, .,PURPOSES ONLY
ESTIMATED REVENUE ADJUSTMENT
o T/C 2 4
ACCOUNT CODING BUDGET UNIT. 7891 Pleasant Hill BART RDA Construction
ORGANIZATION REVENUE
ACCOUNT REVENUE DESCRIPTION INCREASE <DECREASE�-
:1-1
100
7891 9595 Miscellaneous Government Agencies 900,000.00
TOTALS 0 :00 900,000.00
coil AJRPROVED EXPLANATION OF REQUEST
AUD!1TOR7, ROL ER
Decrease Estimated Revenue since funds received
By: Date from fund 289102. were reduced by 900,000.00 due
to decreased expenditures. 7891 net County costs
COUNTY AD INISTRATOR remain unchanged.
SEE NOTE ABOVE.*
1 �111�1.�(,4
Oats
Sy.-- �:4 :2,zl,
BOARD OF SUPERVISORS
YES. St_!�-visers Powers.Fand,n,
ss,�.,cder,hic-Peak,Toflak�cjn
NO: None
Absent: None peck 17 AN-Clo 3 12?,Ie
TITLE OAT:
Abs :o,,None
By� 14, Date REVENUE ADJ. RAOO 4780
JOURNAL RD.9134 Rev 2/56)