HomeMy WebLinkAboutrda min 1988/06/21
MINUTES OF
AN ADJOURNED REGULAR MEETING OF THE
REDEVELOPMENT AGENCY OF THE
CITY OF CHULA VISTA
Tuesday, June 21, 1988
11:52 p.m.
Counci 1 Chambers
Public Services Building
ROLL CALL
MEMBERS PRESENT:
Chai rman Cox, Members Moore, McCandl i ss,
Nader
MEMBERS ABSENT:
STAFF PRESENT:
Member Malcolm
Executive Director Goss, City Attorney
Harron, Secretary Desrochers
1. RESOLUTION 931
ADOPTING THE REDEVELOPMENT AGENCY BUDGET
FOR FISCAL YEAR 1988-89 AND APPROPRIATING
FUNDS THEREFOR
Sufficient funds are available from current Agency bond fund
balances to support the proposed budget for Town Centre I/Bayfront
activities, as well as the Low and t~oderate Income Housing Fund.
Funds to fi nance Town Centre II and Otay Vall ey acti vi ti es come
from a combination of tax increments and from previous loans from
the General Fund. Debt service will be paid from tax increment
revenues derived from the Town Centre I/Bayfront project area.
The adopted operati ng budget for the Redevelopment Agency wi 11
amount to $2,990,680 for FY 1988-89, while the capital bUdget will
total $3,364,100 in new appropriations. However, this will be
offset by $3,202,800 in lapsed appropriations for capital projects
canceled or with funding reductions. The debt service budget for
the Agency will amount to $3,626,950. The budget is as follows:
Activity # Amount
For the Redevelopment Agency Fund:
1986 Tax Allocation Bonds
Debt Service 9800 $3,626,950
Town Centre I Project 9901 633,970
Bayfront Project 9907 1,077 ,280
Town Centre II Project 9nO 126,120
Otay V 11 ey Road Project 9940 188,810
For the Low & Moderate Income Housing 9930 964,500
Minutes
- 2 -
June 21, 1988
For the Redevelopment Agency Capital
Improvement Project Fund:
Fine Arts
Bayfront/Town Centre I
Otay Valley
Town Centre II
Low/Moderate Income Housing
9910
9950
9960
9970
9980
1 :i, 000
549,100
o
1,300,000
1,500,000
RESOLUTION OFFERED BY
waived by unanimous
Malcolm out.
CHAIRMAN COX, the readi ng of the text was
consent, passed and approved with Member
2. RESOLUTION 932
APPROVING REIMBURSEMENT TO THE GENERAL
FUND FOR FUNDING TELEVISION PRODUCTION
SERVICES AND PROVIDING GENERAL INFORMATION
SERVICES AND APPROPRIATING FUNDS THEREFOR
During the FYl987-88 Budget session, $39,300 was included in the
General Fund Non-Departmental budget for tel evi si ng Ci ty Council
meetings. Forty percent of this amount ($15,720) was recommended
to be reimbursed by the Redevelopment Agency.
On September 8,1987, the City Council approved an agreement with
the Chamber of Commerce for provi di ng general i nformati on
services. $24,200 was included in the General Fund Non-Department
Budget for that activity. Fifty percent of this amount ($12,100)
was to be reimbursed by the Redevelopment Agency. The recommended
action appropriates the intended funds and authorizes
reimbursement to the City's General Fund.
Funds totaling $27,820 are available in the unappropriated balance
of the Bayfront/Town Centre Bond Fund to be appropri ated
proportionately to the Town Centre I & Bayfront "Other Specialized
Services" accounts (ggO-9901-5202 and 990-9907-5202).
RESOLUTION OFFERED BY
waived by unanimous
Malcolm out.
MEMBER MOORE, the readi ng of the text was
consent, passed and approved with Member
3. ORAL COMMUNICATIONS None.
4. DIRECTOR'S REPORT None.
5. CHAIRMAN'S REPORT None.
6. MEMBERS' COMMENTS None.
ADJOURNMENT AT 11:54 p.m. to a joint meeting of the City
Council/Redevelopment Agency on July 12, 1988 at 7:00 p.m.
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City Clerk
1272C
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