HomeMy WebLinkAboutAGENDA REPORT 2015 0819 CCSA REG ITEM 10F ITEM 10.F.
CITY OF MOORPARK,CALIFORNIA
City Council Meeting
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AGENDA REPORT 1
BY: .991 ideM n4-.
TO: Honorable City Council
FROM: David C. Moe II, Economic Development and Housing Manager CVP(A)
DATE: July 29, 2015 (CC meeting of 8/19/15)
SUBJECT: Consider Resolution Amending the Operation and Capital
Improvement Budget for Fiscal Year 2015/16 in the Amount of
$25,000.00 for Appraisal Services of the Former Redevelopment
Agency of the City of Moorpark Properties
BACKGROUND AND DISCUSSION
Pursuant to Health and Safety Code 34191.5 (b), the Successor Agency prepared the
required Long Range Property Management Plan ("LRPMP"), detailing the disposition of
the non-housing properties to the State Department of Finance ("DOF") for review and
approval. On February 12, 2015, DOF approved the LRPMP and authorized the
disposal of the properties.
As approved in the LRPMP, all of economic development properties will be retained by
the City of Moorpark ("City") for future development. The City is now responsible for the
maintenance and disposition of the properties. Upon sale of each property, the City will
reimburse itself prior to depositing the proceeds into the Successor Agency's
Community Redevelopment Property Trust Fund ("CRPTF") or applying them to existing
obligations (bond documents).
The adopted Operating and Capital Improvement Budget for Fiscal Year 2015/16 does
not include an allocation for appraisal services for these properties. Appraisal services
are needed to establish the market value of the properties prior to disposition. The City
currently has a contract for appraisal services with Riggs and Riggs, LLC. Staff has
amended this contract and diverted $4,000.00 from the Special Professional Services
(9103) line item in the Economic Development (Division 2410) budget to expedite the
appraisal of 500 Los Angeles Avenue (former Caltrans yard) and proceed with the
proposed negotiated sale to Tom Lindstrom.
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Honorable City Council
August 19, 2015
Page 2
A budget allocation in the amount of $25,000.00 is requested from the General Fund
(1000) to replenish the $4,000.00 mentioned above and provide $21,000 to fund
necessary appraisal services for the remaining four properties.
FISCAL IMPACT
The adopted Operating and Capital Improvement Budget for Fiscal Year 2015/16 does
not include an allocation for appraisal services. A budget appropriation of $25,000 is
needed from the General Fund (1000).
STAFF RECOMMENDATION (ROLL CALL VOTE)
Adopt Resolution No. 2015- amending the adopted Operation and Capital
Improvement Budget for Fiscal Year 2015/16 allocating $25,000.00 for the appraisal
services.
Attachment I: Resolution No. 2015-
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RESOLUTION NO. 2015-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, AMENDING THE FISCAL YEAR
2015/2016 BUDGET TO APPROPRIATE $25,000 FROM THE
GENERAL FUND (1000) TO CONDUCT APPRAISAL SERVICES
OF FORMER REDEVELOPMENT AGENCY OF THE CITY OF
MOORPARK PROPERTIES
WHEREAS, on June 17, 2015, the City of Moorpark adopted the Operating and
Capital Improvement budget for Fiscal Year 2015/16; and
WHEREAS, the City desires to appraise the former Redevelopment Agency of
the City of Moorpark property to establish a market price for disposition; and
WHEREAS, the City has retained Riggs and Riggs, LLC., for appraisal services;
and
WHEREAS, the City intends to amend Riggs and Riggs, LLC., contract for
additional appraisal services; and
WHEREAS, a budget appropriation in the amount of $25,000 is requested from
the General Fund (1000) to allocate funding for additional appraisal services; and
WHEREAS, Exhibit "A", attached hereto and made a part hereof, describes said
budget amendment and the resultant impact to the budget line item.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. A budget amendment in the amount of $25,000 from the General
Fund (1000), as more particularly described in Exhibit "A", attached hereto, is hereby
approved.
SECTION 2. The City Clerk shall certify to the adoption of this resolution and
shall cause a certified resolution to be filed in the book of original resolutions.
PASSED AND ADOPTED this 19th day of August, 2015.
Janice S. Parvin, Mayor
ATTEST:
Maureen Benson, City Clerk
Exhibit A— Budget Amendment
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EXHIBIT A
BUDGET AMENDMENT FOR
General Fund(1000)for Appraisal Services
2015/16
FUND ALLOCATION FROM:
Fund Account Number Amount
General Fund 1000-5500 $ 25,000.00
Total $ 25,000.00
DISTRIBUTION OF APPROPRIATION TO EXPENSE ACCOUNTS:
Account Number Current Budget _ Revision Amended Budget
1000.2410.0000.9103 $ 49,300.00 $ 25,000.00 $ 74,300.00
$ -
$ -
$ -
$
Total $ 49,300.00 $ 25,000.00 $ 74,300.00
Approved as to Form: ALi
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