RDA RES 2011-010 RESOLUTION NO. RDA 2011-10
A RESOLUTION OF THE RANCHO PALOS VERDES
REDEVELOPMENT AGENCY ADOPTING THE OPERATING
AND CAPITAL IMPROVEMENT BUDGET FOR FISCAL
YEAR 2011-2012.
WHEREAS, the Board of the Rancho Palos Verdes Redevelopment Agency desires
to adopt the following resolution adopting the capital budget for FYI 1-12.
NOW, THEREFORE, BE IT RESOLVED, THAT THE BOARD OF THE RANCHO
PALOS VERDES REDEVELOPMENT AGENCY DOES HEREBY ADOPT THE
FOLLOWING FY11-12 OPERATING AND CAPITAL BUDGET.
Section 1: The FY11-12 Revenue Budget is hereby adopted, establishing the
following revenue levels:
Portuguese Bend Project Area $ 1,370
RDA Housing Set Aside Fund 234,600
RDA Debt Service Fund 1,608,500
TOTAL REVENUES $ 1,844,470
Section 2: An operating and capital budget for FY11-12 is hereby adopted as
contained in the Annual Budget of the Rancho Palos Verdes Redevelopment Agency
attached hereto and incorporated and referenced as part of this resolution. The following
expenditure levels are hereby established:
Portuguese Bend Project Area
Administration $ 26,800
Agency Attorney 10,000
RDA Housing Set Aside Fund 12,500
Agency Debt Service Fund 1,554,250
TOTAL OPERATING AND CAPITAL EXPENDITURES $ 1,603,550
Section 3: Upon adoption of said Budget, the Board may revise and/or update said
Budget in part or in its entirety, depending on the Agency's fiscal resources, circumstances,
and needs.
Section 4: The Executive Director of the Rancho Palos Verdes Redevelopment
Agency shall be responsible for administration and execution of said Budget.
PASSED, APPROVED, and ADOPTED the 5th day • Jul 2011.
Agency Chair
ATTEST:
01,
Agency Secretary
State of California )
County of Los Angeles )ss
City of Rancho Palos Verdes )
I, Carla Morreale, Agency Secretary of the Rancho Palos Verdes Redevelopment Agency,
hereby certify that the above Resolution No. RDA 2011-10 was duly and regularly passed
and adopted by the said Redevelopment Agency at regular meeting thereof held on July 5,
2011.
7674A-La- .
Agency Secretary
RDA Resolution No 2011-10
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