HomeMy WebLinkAbout1999-06-22 - AGENDA REPORTS - BUDGET ADOPTION (2)CITY OF SANTA CLARITA
AGENDA REPORT
NEW BUSINESS City Manager Approa
Item to be presented by: Ken Strinli
DATE: June 22, 1999
SUBJECT: REDEVELOPMENT AGENCY BUDGET ADOPTION
RESOLUTION RDA 99-3 ADOPTING THE ANNUAL BUDGET
DEPARTMENT: Redevelopment Agency
RECOMMENDED ACTION
The Redevelopment Agency adopt Resolution RDA 99-3, authorizing the 1999/2000
Redevelopment Agency Budget.
BACKGROUND
The proposed Redevelopment Agency budget for the upcoming fiscal year totals $363,910. The
proposed budget includes the continuation of the Fagade Improvement Program funded at
$150,000 for the fiscal year. The budget also represents funding for 20% of the Assistant City
Manager's salary, 100% of an Economic Development Associate's salary, and 50% of a
Secretary's salary. Also included in the budget are costs associated with the Redevelopment
Committee, as well as necessary consultant services and funding for legal counsel.
Given that the tax increment is still not yet sufficient to fund the Redevelopment Agency, the
budget will continue to be funded from a loan from the General Fund. In fiscal year 1998-1999,
the City lent the RDA $500,000 to fund the Agency's operations over three years, and $250,000
to fund theater arts efforts within the project area. This year's budget continues to be funded
through that loan from the General Fund. To date the General Fund has loaned the
Redevelopment Agency a total of $2,750,000.
ATTACHMENT
Resolution RDA 99-3 adopting the Annual Budget for the Redevelopment Agency
S:budget/rdaagda99.doc
Adopted: �z=Agenda Item:. -4A 1