SIGNED BOARD REPORT"�|E���BOARD OF DIRECTORS OF THE
REDEVELOPMENT AGENCY OF THE COUNTY OF MONTEREY
MEETING: June 14, 2011 CONSENT
AGENDA NO.:
9
SUBJECT: Acting as the Board of Directors of the Redevelopment Agency of the County of
Monterey authorize the Auditor-Controller to amend the FY 2010-11 budget to
increase estimated revenues and appropriations in Fort Ord Debt Service Fund 273,
Unit 8219 by $40,000 4/5th vote required).
DEPARTMENT: Redevelopment and Housing Office
RECOMMENDATION:
It is recommended that the Board of Supervisors, acting as the Board of Directors of the Redevelopment
Agency of the County of Monterey, authorize the Auditor-Controller to amend the FY 2010-11 budget to
increase estimated revenues and appropriations in Fort Ord Debt Service Fund 273, Unit 8219 by
$40,000.
SUMMARY:
The recommended action will allow the Redevelopment Agency Agency) to transfer higher than
anticipated tax increment revenues in the Fort Ord Project Area to the capital and debt service funds
where they may be used to support redevelopment projects and activities.
DISCUSSION:
The Agency uses Property Tax Increment to finance a variety of community improvements and affordable
housing projects within the County's three Redevelopment Project Areas. The Auditor's Office deposits
gross tax increment into debt service funds for each Project Area and the Agency transfers available tax
increment to the Low and Moderate Income Housing Funds and the Capital Funds for that area.
The Fiscal Year FY) 2011-12 budget for the debt service fund for the Fort Ord Project Area was set at
$30,000 based on the two previous years' revenues averaging approximately $23,000. Tax collections
have come in higher than anticipated, and this fund has already received more than $57,000. An increase
in appropriations is required in order to transfer these revenues, as well as any supplemental taxes that
may be received at the end of the fiscal year, to the Fort Ord Capital and Housing Set-Aside funds.
OTHER AGENCY INVOLVEMENT:
None.
FINANCING:
There is no impact to the General Fund. Redevelopment tax increment may only be utilized within
redevelopment project areas to eliminate blight and to support the creation of affordable housing. The
Fiscal Year 2011-12 budget was prepared with the assumption that all previous year Tax Increment would
be transferred to the Capital and Housing Set-Aside Funds, therefore no revision to the FY 2011-12
budget is required.
Carol Bouchard, Project Analyst
Redevelopment and Housing Office
ook;1irector
edevelopment and Housing Office
BIB]
40710-U01
SIGNED-U02
BOARD-U02
REPORT-U02
LI21329-U03
FO96183-U03
FO96184-U03
FO99828-U03
MG99866-U03
AS99892-U03
AS99901-U03
AI102433-U03
DO103180-U03
C10-U03
BOARD-U03
REPORTS-U03
6/16/2011-U04
HANCOCKD-U04
16586-U05
1-U06
ACTING-U07
AS-U07
THE-U07
BOARD-U07
OF-U07
DIRECTORS-U07
OF-U07
THE-U07
REDEVELOPMENT-U07
AGENCY-U07
OF-U07
THE-U07
COUNTY-U07
OF-U07
MONTEREY:-U07
AUTHORIZE-U07
THE-U07
294-HOUSING-U08
&-U08
REDEVLOPMENT-U08
TORRES-U09
KARINA-U09
TORRESK-U10
5/24/2011-U011
AUDITOR-CONTROLLER-U012
TO-U012
AMEND-U012
THE-U012
FISCAL-U012
YEAR-U012
FY)-U012
2010-11-U012
BUDGET-U012
TO-U012
INCREASE-U012
ESTIMATED-U012
REVENUES-U012
APPROPRIATIONS-U012
IN-U012
FORT-U012
ORD-U012
DEBT-U012
SERVICE-U012
FUND-U012
273,-U012
UNIT-U012
8219-U012
BY-U012
$40,000.-U012
4/5THS-U012
VOTE-U012
REQUIRED)-U012
COMPLETED BOARD ORDER REVISED���58 Revised
Before the Board of Directors of the
Redevelopment Agency of the County of Monterey
in and for the County of Monterey, State of California
Authorize the Auditor-Controller to amend the
Fiscal year FY) 2010-11 budget to increase
estimated revenues and appropriations in Fort Ord
Debt Service Fund 273, Unit 8219 by $40,000
4/5ths vote required)
Upon motion of Director Potter, seconded by Director Armenta, and carried by those members
present, the Board hereby;
Authorized the Auditor-Controller to amend the FY 2010-11 budget to increase estimated
revenues and appropriations in Fort Ord Debt Service Fund 273, Unit 8219 by $40,000.
PASSED AND ADOPTED on this 14th day of June, 2011, by the following vote, to wit:
AYES: Directors Armenta, Calcagno, Salinas, Parker, and Potter
NOES: None
ABSENT: None
I, Gail T. Borkowski, Clerk of the Board of Directors of the Redevelopment Agency of the County of Monterey, State
of California, hereby certify that the foregoing is a true copy of an original order of said Board of Directors duly made
and entered in the minutes thereof of Minute Book 75 for the meeting on June 14, 2011.
Dated: June 16, 2011 Gail T. Borkowski, Clerk of the Board of Directors
Revised June 20, 2011 County of Monterey, State of California
By
BIB]
40714-U01
COMPLETED-U02
BOARD-U02
ORDER-U02
REVISED-U02
LI21329-U03
FO96183-U03
FO96184-U03
FO99828-U03
MG99866-U03
AS99892-U03
AS99901-U03
AI102433-U03
DO103313-U03
C15-U03
COMPLETED-U03
BOARD-U03
ORDER-U03
6/20/2011-U04
HANCOCKD-U04
16586-U05
1-U06
ACTING-U07
AS-U07
THE-U07
BOARD-U07
OF-U07
DIRECTORS-U07
OF-U07
THE-U07
REDEVELOPMENT-U07
AGENCY-U07
OF-U07
THE-U07
COUNTY-U07
OF-U07
MONTEREY:-U07
AUTHORIZE-U07
THE-U07
294-HOUSING-U08
&-U08
REDEVLOPMENT-U08
TORRES-U09
KARINA-U09
TORRESK-U10
5/24/2011-U011
AUDITOR-CONTROLLER-U012
TO-U012
AMEND-U012
THE-U012
FISCAL-U012
YEAR-U012
FY)-U012
2010-11-U012
BUDGET-U012
TO-U012
INCREASE-U012
ESTIMATED-U012
REVENUES-U012
APPROPRIATIONS-U012
IN-U012
FORT-U012
ORD-U012
DEBT-U012
SERVICE-U012
FUND-U012
273,-U012
UNIT-U012
8219-U012
BY-U012
$40,000.-U012
4/5THS-U012
VOTE-U012
REQUIRED)-U012