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Home My WebLink AboutRES RD 1996 47 1996 1106RESOLUTION NUMBER 96 -47 RESOLUTION OF THE MOORPARK REDEVELOPMENT AGENCY AUTHORIZING BUDGET AMENDMENT TO THE FISCAL YEAR 1996/1997 ADOPTED BUDGET FOR THE MOORPARK REDEVELOPMENT AGENCY LOW /MODERATE INCOME HOUSING FUND (FUND 232) (DEVELOPMENT OF 203(k) PROGRAM AND REPAIRS ON 661 MOORPARK AVENUE) WHEREAS, on June 19, 1996, the Moorpark Redevelopment Agency adopted the Budget for Fiscal Year 1996/1997; and WHEREAS, a staff report has been presented to said Agency requesting budget amendments in the aggregate amount of $52,700; and WHEREAS, Exhibits "A" hereof describes said budget amendment and its resultant impact to the budget line item(s) and projected year end fund balance(s). NOW, THEREFORE, THE CITY MOORPARK REDEVELOPMENT AGENCY DOES RESOLVE AS FOLLOWS: A budget amendment in the amount of $51,500 to Fund 232 as more particularly described in Exhibits "A" attached hereto is hereby approved. PASSED, APPROVED AND ADOPTED this 6th day of November, 1996. c T, Paul lawra Jr. Chairman ATTEST: Lillian E. Hare Agency Secretary E8TABUM C: \N \RLSO \RESO- A.002- 10/18/96- October 31, 99 lfOR��PQ'� C�Tp of 00 pOpp2'5 EXHIBIT "A" RESOLUTION 96 -47 SUPPLEMENTAL APPROPRIATIONS BY ACCOUNT NUMBER ACCOUNT CURRENT SUPPLEMENTAL REVISED NUMBERS APPROPRIATION APPROPRIATION APPROPRIATION BALANCE (REDUCTION) FY 96/97 YEAR 232.000.0000.501.XXXX $50,000 $50,000 $50,000 232.504.5005.000.9402 $2,700 $ 2,700 $ 2,700 TOTALS: $52,700 $52,700 $52,700 EFFECTS OF PROPOSED SUPPLEMENTAL APPROPRIATIONS TO FUND BALLANCES FUND CURRENT PROJECTED SUPPLEMENTAL REVISED FY 96/97 YEAR END APPROPRIATION PROJECTED BALANCE FY 96/97 YEAR END BALANCE 232 (HU LOW /MODERATE $440,437 $52,700 $387,737 INCOME HOUSING FUND) TOTALS: $440,437 $52,700 $387,737 C: \M \RL80 \R880- B.002- 10/18/96- October 31, 1996 U�V�� 20 PERCENT HOUSING SET ASIDE FUNDS EXHIBIT "A° HARCH 19% MOORPARK REDEVELOPMENT AGENCY TIR PROJECTED GFUNT i AT 5% (A) (B) (C) (D) (1) (2) (3) INCREASE IN FISCAL INCREASE IN ASSESSED ASSESSED VALUATION TAX INCREMENT TAX INCREMENT 20 PERCENT 20% ANNUAL HOUSING FUNDS YEAR YEAR VALUATION OVER BASE YR. REVENUE AT 1% REVENUE LESS .25% COLLECTION FEES HOUSING SET ASIDE HOUSING 0 AND H BOND DEBT SERVICE FUNDS REMAINING REMAINING CUMULATIVE 0 1988 1989 $260,645,252 $0 $0 $0 $0 $0 $0 $0 $0 1 1989 � 1990 (k) $295,844,170 $0 $0 $0 $0 $0 $0 $0 $p 2 1990 1991 $314,386,795 $53,741,543 $157,805 $157,411 $31,482 $0 $0 $31,482 $31,482 3 1991 1992 $366,122,065 $105,476,813 $256,431 $255,889 $51,178 $0 $0 $51,178 $82,660 4 1992 ` 1993 $386,994,473 $126,349,221 $1,311,826 $1,283,795 $256,759 $0 $0 $256,759 $339,419 5 1993 1994 $379,419,965 $118,774,713 $1,227,620 $1,204,327 $240,865 $0 $39,004 $201,861 $541,280 6 7 1994 ` 1995 $407,080,412 $146,435,160 $1,464,352 $1,564,945 $312,989 $125,515 $157,351 $30,122 $571,403 8 1995 \ 1996 \ 1996 1997 $391,055,268 $401,873,335 $130,410,016 $141,228,083 $1,304,100 $1,412,281 $1,334,979 $1,408,750 $266,996 $281,750 $128,026 $130,586 $158,046 ($19,076) $552,327 9 1997 y 1998 $421,967,002 $161,321,750 $1,613,217 $1,609,184 $321,837 $133,198 $157,309 $157,418 ($6,145) $31,221 $546,182 $577,403 10 11 1998 ` 1999 1999 2000 $443,065,352 $465,218,619 $182,420,100 $204,573,367 $1,824,201 $2,045,734 $1,819,640 $2,040,619 $363,928 $408,124 $135,862 $158,356 $69,711 $647,114 12 2000 2001 $488,479,550 $227,834,298 $2,278,343 $2,272,647 $454,529 $138,579 $141,351 $158,001 $157,446 $111,544 $155,733 $758,658 $914,391 13 14 2001 ` 2002 ` 2002 2003 $512,903,528 $538,548,704 $252,258,276 $277,903,452 $2,522,583 $2,779,035 $2,516,276 $2,772,087 $503,255 $554,417 $144,178 $157,718 $201,359 $1,115,750 15 2003 \ 2004 $565,476,140 $304,830,888 $3,048,309 $3,040,688 $608,138 $147,061 $150,002 $157,749 $157,528 $249,608 $300,607 $1,365,357 $1,665,965 16 17 2004 j 2005 \ 2005 2006 $593,749,947 $623,437,444 $333,104,695 $362,792,192 $3,331,047 $3,627,922 $3,322,719 $3,618,852 $664,544 $723,770 $153,002 $158,055 $353,486 $2,019,451 18 2006 ` 2007 $654,609,316 $393,964,064 $3,939,641 $3,929,792 $785,958 $156,063 $159,184 $157,246 $157,234 $410,462 $469,541 $2,429,913 $2,899,454 19 2007 2008 $687,339,782 $426,694,530 $4,266,945 $4,256,278 $851,256 $162,367 $156,911 $531,977 $3,431,431 20 21 2008 \ 2009 \ 2009 2010 $721,706,771 $757,792,109 $461,061,519 $497,146,857 $4,610,615 $4,971,469 $4,599,089 $4,959,040 $919,818 $165,615 $157,355 $596,848 $4,028,279 22 2010 j 2011 $795,681,715 $535,036,463 $5,350,365 $5,336,989 $991,808 $1,067,398 $168,927 $172,306 $157,394 $157,124 $665,487 $737,968 $4,693,766 $5,431,734 C:\H\123- FILE`INCREHENT`HOUS20A SUB TOTAL FY 19%/ 1997:------------------------------ - - - - -- $2,346,182 PROJECTED TAX INCREMENT HOUSING FUNDS:--------------- - - - - -- $47,297,527 -------- - - - - -- -------------- TOTAL HOUSING FUNDS TO BE RECEIVED BY AGENCY FY 1999/200 - -- $49,643,709 ------------ - - - - -- =-------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- i�r (A) (B) (C) (D) (1) (2) (3) (4) (5) INCREASE IN INCREASE ASSESSED TAX INCREMENT TAX INCREMENT 20 PERCENT ANNUAL HOUSING FUNDS FISCAL IN ASSESSED VALUATION REVENUE REVENUE LESS .25% HOUSING HOUSING BOND DEBT FUNDS REMAINING YEAR ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- YEAR VALUATION OVER BASE YR. AT 1% COLLECTION FEES SET ASIDE 0 AND N SERVICE REMAINING CUMULATIVE -------------------------------------------------------------------------------------------------------------------------------------------------------------------- 23 2011 2012 $835,465,801 $574,820,549 $5,748,205 $5,733,835 $1,146,767 $175,752 $157,554 $813,461 $6,245,195 24 2012 ` 2013 $877,239,091 $616,593,839 $6,165,938 $6,150,524 $1,230,105 $179,267 $157,613 $893,225 $7,138,420 25 2013 2014 $921,101,045 $660,455,793 $6,604,558 $6,588,047 $1,317,609 $182,852 $157,302 $977,455 $8,115,876 26 2014 l 2015 $ %7,156,098 $706,510,846 $7,065,108 $7,047,446 $1,409,489 $186,509 $157,628 $1,065,352 $9,181,227 27 2015 2016 $1,015,513,902 $754,868,650 $7,548,687 $7,529,815 $1,505,963 $190,239 $157,522 $1,158,201 $10,339,428 28 2016 2017 $1,066,289,598 $805,644,346 $8,056,443 $8,036,302 $1,607,260 $194,044 $157,993 $1,255,224 $11,594,652 29 2017 2018 $1,119,604,077 $858,958,825 $8,589,588 $8,568,114 $1,713,623 $197,925 $158,977 $1,356,721 $12,951,373 30 2018 2019 $1,175,584,281 $914,939,029 $9,149,390 $9,126,517 $1,825,303 $201,884 $158,397 $1,465,023 $14,416,395 31 2019 2020 $1,234,363,495 $973,718,243 $9,737,182 $9,712,839 $1,942,568 $205,921 $0 $1,736,647 $16.153,042 32 2020 2021 $1,296,081,670 $1,035,436,418 $10,354,364 $10,328,478 $2,065,6% $210,040 $0 $1,855,656 $18,008,698 33 2021 2022 $1,360,885,754 $1,100,240,502 $11,002,405 $10,974,899 $2,194,980 $214,240 $0 $1,980,739 $19,989,437 34 2022 ` 2023 $1,428,930,041 $1,168,284,789 $11,682,848 $11,653,641 $2,330,728 $218,525 $0 $2,112,203 $22,101,640 35 2023 ` 2024 $1,500,376,543 $1,239,731,291 $12,397,313 $12,366,320 $2,473,264 $222,8% $0 $2,250,368 $24,352,009 36 2024 2025 $1,575,395,371 $1,314,750,119 $13,147,501 $13,114,632 $2,622,926 $227,354 $0 $2,395,573 $26,747,581 37 2025 ` 2026 $1,654,165,139 $1,393,519,887 $13,935,199 $13,900,361 $2,780,072 $231,901 $0 $2,548,171 S29,295,753 38 2026 1 2027 $1,736,873,3% $1,476,228,144 $14,762,281 $14,725,376 $2,945,075 $236,539 $0 $2,708,536 $32,004,289 39 2027 2028 $1,823,717,066 $1,563,071,814 $15,630,718 $15,591,641 $3,118,328 $241,269 $0 $2,877,059 $34,881,348 40 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- 2028 ` 2029 $1,914,902,919 $1,654,257,667 $16,542,577 $16,501,220 $3,300,244 $246,095 $0 $3,054,149 $37,935,497 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1. �*) PLAN ADOPTION FY 198911990 BASED ON 21.88196525% RATIO OF MOORPARK TOTAL ASSESSED VALUE OF $1,352,000,000 2. 1990/1991 TO 1994/1995 SHOWS ACTUAL FUNDS RECEIVED FROM COUNTY 3. 1995/19% TO 2028/2029 ARE PROJECTED FUNDS TO BE RECEIVED AT 5.00% GROWTH 4. 0 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- AND M INCREASE BY 2% ANNUALLY. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- TAX ALLOWCATION BOND HOUSING FUNDS: -------------- --- - - - - -- $1,800,000 TAX INCREMENT HOUSING FUNDS AVAILABLE:--------------- - - - - -- $546,182 SUB TOTAL FY 19%/ 1997:------------------------------ - - - - -- $2,346,182 PROJECTED TAX INCREMENT HOUSING FUNDS:--------------- - - - - -- $47,297,527 -------- - - - - -- -------------- TOTAL HOUSING FUNDS TO BE RECEIVED BY AGENCY FY 1999/200 - -- $49,643,709 ------------ - - - - -- =-------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- i�r TNCC�'�`�iE LTMITS P ER S A N S TM FAM T L Y CCQU3 rry QF VENTURA ` INCOME ':EP,Y LOS PERCENT 504 1 20 700 2 23550 3 26600 23Q. 5 31900 6 34300 7 36650 8 39000 LOW£R 80% 29100 33300 3 7950 41 44950 48250 51600 54900 100% 4135 Q 4 ?300 5320Q63850 68550 73300 78000 EMODERKE 120% 49650 56 700 6380Q ?Qi10; 76550 82250 87900 93600 Table applicable for Fiscal Year 1996;100, owV�-:j 0 STATE OF CALIFORNIA ) COUNTY OF VENTURA ) ss. CITY OF MOORPARK ) I, Lillian E. Hare, Secretary of the Redevelopment Agency of the City of Moorpark, California, do hereby certify under penalty of perjury that the foregoing Resolution No. 96 -47 was adopted by the Redevelopment Agency of the City of Moorpark at a meeting held on the 6th day of NOVEMBER 1996, and that the same was adopted by the following vote: 0 AYES: AGENCYMEMBERS BROWN, HUNTER, PEREZ, WOZNIAK AND CHAIRMAN LAWRASON NOES: NONE ABSENT: NONE ABSTAIN: NONE WITNESS my hand and the official seal of said City this 14th day of NOVEMBER 1996. illia P Secre .e_ (S ESTABLISHED * MARCH 18. 1907 cgCIFOa��P QP \� �� or �ap�