HomeMy WebLinkAbout1993-02-16; Housing & Redevelopment Commission; 225; Special Payment to Educational Revenue Fund/ ( /o ) b,Q&,~+ 3 0
HOUSING AND REDEVELOPMENT COMMISSION - AGENDA BILL /jf) h I, I I
AB# aa5 TITLE: DEPT. HD. %
MTG. +/b-93 REDEVELOPMENT AGENCY SPECIAL PAYMENT TO THE
COUNTY OF SAN DIEGO EDUCATIONAL REVENUE CITYATTY. * cE9-
ALLOCATION FUND (ERAF) DEPT. RED CITY MGR.
RECOMMENDED ACTION:
Adopt Resolution No. & 2 1 authorizing the Housing and Redevelopment Director to notify
the County of San Diego of the Carlsbad Redevelopment Agency’s intent to make a Special
Payment to the County pursuant to the 1992 Budget Act and related legislation as required; and
approving the appropriation of funds in the amount of $257,278.66 from the Agency’s
unappropriated fund balance for the one time Special Payment.
ITEM EXPLANATION:
The 1992 State Budget Act and related legislation requires every sector of California government
to share in solving the state-wide budget crisis. Implementing legislation, SB 617 and SB 844,
requires a shift of a total of $200 million in property tax revenues from redevelopment agencies
to K-12 schools and community colleges.
Each redevelopment agency must make a one time Special Payment in the amount determined
by the State Director of Finance to the County Auditor for deposit in the County Educational
Revenue Allocation Fund (ERAF) on or before May 10, 1993. The amount the Carlsbad
Redevelopment Agency must pay is $257,278.66.
tn accordance with the implementing legislation, the Housing and Redevelopment Commission
must report to the County Auditor by March 1, 1993, as to how the agency intends to fund the
Special Payment obligation.
It is recommended that the one time Special Payment be made from the Redevelopment
Agency’s unappropriated fund balance.
Approval of the attached Resolution will authorize the Housing and Redevelopment Director to
notify the County of San Diego of the Carlsbad Redevelopment Agency’s intent to make the
Special Payment from the Agency’s unappropriated fund balance for this one time Special
Payment.
FISCAL IMPACT:
There is no impact to the City’s General Fund.
The State Director of Finance has calculated the Carlsbad Redevelopment Agency’s one time
Special Payment to be $257,278.66. Adoption of the attached Resolution will appropriate funds
, in the above amount from the .Redevelopment Agency’s unappropriated fund balance.
Based on projections through June 30, 1993, this Special Payment will deplete the available fund
balances in both the Operating and Debt Service funds of the Agency.
PAGE 2 OF AB# AJ 5
EXHIBITS:
1. Resolution No. a& \ , authorizing the Housing and Redevelopment Director to
notify the County of San Diego of the Carlsbad Redevelopment Agency’s intent to make
a Special Payment to the County pursuant to the 1992 Budget Act and related
legislation as required; and approving the appropriation of funds in the amount of
$257,278.66 from the Agency’s unappropriated fund balance.
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RESOLUTION NO. 221
A RESOLUTION OF THE HOUSING AND REDEVELOPMENT COMMISSION OF THE CITY OF CARLSBAD, CALIFORNIA, AUTHORIZING THE HOUSING AND REDEVELOPMENT DIRECTOR TO NOTIFY THE COUNTY OF SAN DIEGO OF THE CARLSBAD REDEVELOPMENT AGENCY'S INTENT TO MAKE A SPECIAL PAYMENT TO THE COUNTY, AND APPROPRIATING FUNDS
WHEREAS, On September 2, 1992, the 1992-93 State budget
was approved: and
WEEREAS, the budget bill along with SB 617 and SB 844
implementing the budget requires a shift of a total of $200
million in property tax revenues from redevelopment agencies
to K-12 schools and community colleges; and
WHEREAS, in accordance with this legislation the Carlsbad
Housing and Redevelopment Commission must report to the County
Auditor by March 1, 1993, as to how the agency intends to fund
the Special Payment obligation: and
WHEREAS, in accordance with this legislation the Carlsbad
Redevelopment Agency must make a one time Special Payment in
an amount determined by the State Director of Finance to the
County Auditor for deposit in the County Educational Revenue
Allocation Fund (ERAF) on or before May 10, 1993; and
WHEREAS, the State Director of Finance has determined
that the amount of the Carlsbad Redevelopment Agency's one
time Special Payment is $257,278.66.
NOW, THEREFORE, BE IT HEREBY RESOLVED, by the Housing and
Redevelopment Commission'of the City of Carlsbad, California,
as follows:
.
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1.
2.
That the above recitations are true and correct.
That the Housing and Redevelopment Director is hereby
authorized to notify the County of San Diego on behalf of
the Housing and Redevelopment Commission of the Carlsbad
Redevelopment Agency's intent to fund the one time
Special Payment from the Agency's unappropriated fund
balance.
3. That the amount of $257,278.66 is hereby appropriated
from the Redevelopment Agency Unappropriated Fund Balance
to Account No. 810-840-3410-2990 for the purposes of
making a one time Special Payment to the County of San
Diego.
PASSED, APPROVED, AND ADOPTED at a regular meeting of
the Housing and Redevelopment Commission of the City of
Carlsbad, California held on the 16th day of FEBRUARY , 1993,
by the following vote, to wit:
AYES: Commissioners Lewis, Stanton, Kulchin, Nygaard, Finnila
NOES: None
ABSTAIN: None -
ABSENT:
ATTEST