HomeMy WebLinkAboutRDA AG PKT 2008-07-28 #3AGENDA STAFF REPORT
DATE: July 28, 2008
TO: Chairperson and Members of the Redevelopment Agency
THRU: David Carmany, Executive Director
FROM: Lee Whittenberg, Director of Development Services
Robbeyn Bird, Director of Administrative Services
SUBJECT: REDEVELOPMENT AGENCY - RIVERFRONT
PROJECT AREA LOW AND MODERATE INCOME
HOUSING FUND (BUDGET AMENDMENT RDA 09-01-
01)
SUMMARY OF REQUEST:
The proposed Redevelopment Agency action will adopt Budget Amendment RDA
09-01-01, revising the approved budget for the Riverfront Project Area Low and
Moderate Income Housing Fund to reflect anticipated spending levels for the
various housing rehabilitation loan and grant programs and administrative
expenses to manage and oversee those programs, as scheduled for approval by
the Agency this evening.
BACKGROUND:
The funds in the Riverfront Project Area Low and Moderate Income Housing
Fund are utilized for implementation of 3 primary programs within the City, which
are briefly described below:
^ Seal Beach Trailer Park Rental Subsidy Program:
^ Costs for this program are a maximum of $120,000 per year until 2020.
^ These rental subsidy expenditures are included within the "Low/Mod
Housing Expense" Account 061-081-45050.
^ Provides rental subsidy funds for residents of the Seal Beach Trailer Park
that were residents of the park when it was acquired with Bond financing
in 2000.
^ City-Wide Low- and Moderate-Income Housing Assistance Program:
^ Provides loan and grant funds for approved housing rehabilitation repairs
to qualified persons and families:
Agenda Item 3
Budget Amendment 09-01-01 re:
Riverfront Project Area Low and Moderate
Income Housing Fund
Redevelopment Agency Staff Report
July 28, 2008
^ Total estimated costs for housing rehabilitation work to be
accomplished by this program for the 2008-2009 Fiscal Year are
$700,000. It is estimated that approximately 20 applicants will be
working with CivicStone during the fiscal year on project approvals and
completion of rehabilitation work.
^ Funds administration expenses of City Staff and CivicStone to administer
the program;
^ Estimated administrative costs are $80,000 based on a per project
estimated cost of $4,000.00.
^ Administration -Leisure World CDBG Assistance Program -Funds
administration expenses of City Staff and CivicStone to administer the
program that is funded by the County of Orange through the Federal
Community Development Block Grant (CDBG) program as a grant to the
Agency of $200,000.00. It is estimated that 80 additional units will be
rehabilitated during this fiscal year.
^ Estimated administrative costs are $100,000 based on a per project
estimated cost of $1,250.00.
The requested budget amendment will establish funding levels for both the loan
and grant programs and for all City Staff and Consultant administration expenses
to manage and conduct the above-discussed programs. The recommended
amendments are in conformance with the Agency actions of July 28, 2008.
Please refer to Attachment 1 to review proposed Resolution No. 08-04, A
Resolution of the Redevelopment Agency of the City of Seal Beach Authorizing
Budget Amendment No. RDA 09-01-01 for the Riverfront Project Area Low and
Moderate Income Housing Fund.
FISCAL IMPACT:
The proposed budget amendment will establish expenditure goals for each of the
programs that received funding through the Riverfront Project Area Low and
Moderate Income Housing Fund. There is no impact to the City General Fund.
RECOMMENDATION:
Adopt Resolution No. 08-04, A Resolution of the Redevelopment Agency of the
City of Seal Beach Authorizing Budget Amendment No. RDA 09-01-01 for the
Riverfront Project Area Low and Moderate Income Housing Fund.
2
-RDA -Staff Report - 2008 Low-Moderate Income Housing Fund -Budget Amendment
BudgefAmendment 09-01-01 re:
Riverfront Project Area Low and Moderate
Income Housing Fund
Redevelopment Agency Staff Report
July 28, 2008
`~ Whittenberg
irector of Development Servi s
Robbeyn Ird
Director of Administrative Services
NOTED AND APPROVED:
David Carmany
City Manager
Attachment 1: Resolution No. 08-04, A Resolution of the Redevelopment
Agency of the City of Seal Beach Authorizing Budget
Amendment No. RDA 09-01-01 for the Riverfront Project
Area Low and Moderate Income Housing Fund
3
RDA -Staff Report - 2008 Low-Moderate Income Housing Fund -Budget Amendment
Budget Amendment 09-01-01 re:
Riverfronf Project Area Low and Moderate
Income Housing Fund
Redevelopment Agency Staff Report
July 28, 2008
ATTACHMENT 1
RESOLUTION NO. 08-04, A RESOLUTION
OF THE REDEVELOPMENT AGENCY OF
THE CITY OF SEAL BEACH AUTHORIZING
BUDGET AMENDMENT NO. RDA 09-01-01
FOR THE RIVERFRONT PROJECT AREA
LOW AND MODERATE INCOME HOUSING
FUND
4
-RDA -Staff Report - 2008 Low-Moderate Income Housing Fund -Budget Amendment
RESOLUTION NUMBER 08-04
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE
CITY OF SEAL BEACH AUTHORIZING BUDGET AMENDMENT
NO. RDA 09-01-01 FOR THE RIVERFRONT PROJECT AREA
LOW AND MODERATE INCOME HOUSING FUND
WHEREAS, the fiscal year 2008/2009 budget requires budgetary amendments
as outlined below:
THE SEAL BEACH REDEVELOPMENT AGENCY DOES HEREBY RESOLVE:
REVISED/
ACCOUNT ACCOUNT ADOPTED PROPOSED BUDGET(diff)
DESCRIPTION NUMBER BUDGET BUDGET AMENDMENT
Contract Prof. Svcs. 061-081-44000 $ 33,000 $180,000 $147,000
Low/Mod Housing Exp 061-081-45050 $240,000 $826,000` $586,000
' Note: Includes $120,000 for Seal Beach Trailer Park Rental Subsidy Program
PASSED, APPROVED AND ADOPTED by the Redevelopment Agency of the
City of Seal Beach this 28th day of Julv , 2008 by the following vote:
AYES: Agency Members
NOES: Agency Members
ABSENT: Agency Members
ABSTAIN: Agency Members
ATTEST:
Secretary/City Clerk
Chairman
STATE OF CALIFORNIA }
COUNTY OF ORANGE } SS
CITY OF SEAL BEACH }
I, Linda Devine, City Clerk of the City of Seal Beach, California, do hereby certify
that the foregoing Resolution is the original copy of Resolution Number 08-03
on file in the office of the City Clerk, passed, approved, and adopted by the
Redevelopment Agency of the City of Seal Beach at a meeting held thereof on
the 28th day of Julv , 2008.
Secretary/City Clerk