HomeMy WebLinkAbout2008-11-18; Housing & Redevelopment Commission; Resolution 460Exhibit 2
1 RESOLUTION NO. 460
2 A RESOLUTION OF THE HOUSING AND
REDEVELOPMENT COMMISSION OF THE CITY OF
3 CARLSBAD, CALIFORNIA, AUTHORIZING THE
4 ADDITIONAL APPROPRIATION OF THE
REDEVELOPMENT AGENCY AND HOUSING AUTHORITY
5 FOR A STATE OF CALIFORNIA REQUIRED
CONTRIBUTION TO ERAF AND MISCELLANEOUS
6 BUDGET ADJUSTMENTS.
WHEREAS, the Housing and Redevelopment Commission of the City of8
9 Carlsbad, California adopted its 2008-09 Budget on June 24, 2008; and
10 WHEREAS, the State of California adopted its budget on September 23, 2008;
11 and
12 WHEREAS, with the adoption of the State of California budget legislation, it is
13 required that redevelopment agencies within the State of California shift property tax
14 increment revenues to the Education Revenue Augmentation Fund for K-12 schools
15 and community colleges during Fiscal Year 2008-09; and
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WHEREAS, in accordance with the State of California legislation, the Carlsbad
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Redevelopment Agency must make a special one-time payment estimated at $300,000,
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as will be determined by the State Director of Finance to the County of San Diego
20 Auditor and Controller for deposit into the Education Revenue Augmentation Fund on or
21 before May 10, 2009; and
22 WHEREAS, the one-time payment is estimated to be $300,000, however if the
23 required contribution to Education Revenue Augmentation Fund is actually higher than
the estimated $300,000, the Housing and Redevelopment Commission will be notified;
25 WHEREAS, amendments to the Carlsbad Redevelopment Agency's budget are
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required as a result of these actions; and
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Exhibit 2
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2 WHEREAS, the General Fund provides services to the Housing and
3 Redevelopment Funds and the General Fund should be fully compensated for those
4 services;
5 NOW, THEREFORE, BE IT RESOLVED by the Housing and Redevelopment
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Commission of the City of Carlsbad, California, as follows:
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0 1. That the above recitations are true and correct.
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9 2. That the Finance Director is authorized to appropriate and expense up to
10 the following amounts from the Carlsbad Redevelopment Agency's Funds for the
purpose of making a special payment to the County of San Diego Auditor and Controller
19 for deposit into the Education Revenue Augmentation Fund on or before May 10, 2009:
13 Village Redevelopment Area $300,000
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3. That the Finance Director is authorized to appropriate $16,300 in the
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Village Redevelopment Operations Fund, $5,300 from the Village Low/Mod Fund,16
$6,600 in the South Coast Redevelopment Operations Fund and $400 in the South
Coast Redevelopment Low/Mod Fund and to transfer those amounts to the General
19 Fund to fully compensate the General Fund for services provided.
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PASSED, APPROVED AND ADOPTED at a Joint Special Meeting of the
Carlsbad Housing and Redevelopment Commission, Carlsbad City Council, and
Carlsbad Municipal Water District Board of Directors, held on the 18th day of
November, 2008, by the following vote to wit:
AYES: Commission Members Lewis, Hall, Packard and Nygaard.
NOES: None.
ABSENT: Commission Member Kulchin.
, Chairman
ATTEST:
LISA HILDABRAND, Secretary
(SEAL)
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