RDA RES 1990-014 RDA RESOLUTION NO. 90 - 14
A RESOLUTION OF THE RANCHO PALOS VERDES
REDEVELOPMENT AGENCY ADOPTING FISCAL
YEAR 1990-91 OPERATING AND CAPITAL BUDGET
WHEREAS, the Board of the Rancho Palos Verdes
Redevelopment Agency desires to adopt the following
resolution adopting the operating and capital budget for the
I/ 1990-91 fiscal year.
NOW, THEREFORE, BE IT RESOLVED, THAT THE BOARD OF THE
RANCHO PALOS VERDES REDEVELOPMENT AGENCY DOES HEREBY ADOPT
THE FOLLOWING 1990-91 OPERATING AND CAPITAL BUDGET.
Section 1: An operating and capital budget for Fiscal
Year 1990-91 is hereby adopted as contained in the Annual
Budget of the City of Rancho Palos Verdes attached hereto and
incorporated and referenced as part of this resolution. The
following expenditure levels are hereby established:
Portuguese Bend Project Area $ 303, 500
Abalone Cove Project Area 2,168, 556
TOTAL $2, 472,056
Section 2: Upon adoption of said Budget, the Board may
revise and/or update said Budget in part or in its entirety,
depending upon the Agency' s fiscal resources, circumstances
and needs.
Section 3 : The Executive Director of the Rancho Palos
Verdes Redevelopment Agency shall be responsible for
administration and execution of said Budget and shall
annually recommend to the Agency Board prior to June 10th of
each fiscal year the next Fiscal Year Budget.
PASSED, APPROVED AND ADOPTED TH.' 3RD DAY OF JUG`, 1990.
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AGENCY SECRETARY
ate of California
County of Los Angeles )ss s
City of Rancho Palos Verdes
I , JO PURCELL, Agency Secretary of the Rancho Palos Verdes
Redevelopment Agency hereby certify that the above Resolution
No. 90 - 14 was duly and regularly passed and adopted by the
said Redevelopment Agency at a regular me- ing thereof held
on July 3, 1990.
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AGENC SECRETARY
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RANCHO PALOS VERDES
REDEVELOPMENT AGENCY
May 9, 1990
HONORABLE CHAIRMAN AND BOARD OF DIRECTORS
Rancho Palos Verdes Redevelopment Agency
Transmitted for your consideration is the Recommended Budget for the City of Rancho Palos
Verdes Redevelopment Agency for the 1990-91 Fiscal Year. This budget will serve as the
financial plan for those improvements which the Agency will undertake in the coming fiscal
year.
AGENCY OVERVIEW
The 1990-91 Fiscal Year budget totals $2,684,056, which includes $305,000 for the Portuguese
Bend project area and $2,379,056 for the Abalone Cove project area. The funding sources for
these projects are uncertain at best. Both project areas have been operating with a negative
fund balance since 1988. Loans and advances from the City of Rancho Palos Verdes have
enabled the Agency to continue its efforts to abate the landslide in the project areas. In
March, 1989, the County of Los Angeles approved a $1.5 million revenue anticipation note from
which the City could finance projects in the Abalone Cove project area. By June 30, 1990,
the Agency will have drawn on $1.15 million of that amount. The Portuguese Bend project has
relied almost exclusively on advances from the City. The City's ability to fund additional
expenditures is uncertain; therefore, it is of significant importance that the Agency begin
receiving tax increment revenue so that it may begin to assume debt and begin to reimburse
the City for services which it currently provides the Agency.
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PORTUGUESE BEND LANDSLIDE
The project area budget contains no new projects within the landslide area. Efforts will
focus on maintaining existing wells and minor grading and drainage improvements.
ABALONE COVE LANDSLIDE
The Abalone Cove budget provides for improvements which have been recommended for completion
by the Technical Panel, and are consistent with the Horan settlement. Projects identified
for improvement are: Alta Mira Canyon drainage; Kelvin Canyon; and miscellaneous storm water
improvements.
The proposed FY 90-91 budget represents a financial plan which will work towards abating the
landslides in Portuguese Bend and Abalone Cove. While the Agency's financial position is
uncertain for the near future, staff believes that future funding will enable the agency to
achieve its goals in the coming years. During the Agency's work sessions and public hearings
in May and June, staff will be available to answer your questions and address your concerns
at greater length.
Respectfully Submitted,
/1* Reatir0
William F. Cornett
Executive Director
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CITY OF RANCHO PALOS VERDES
DEPARTMENT: PROGRAM: FUND:
REDEVELOPMENT AGENCY (825) PORTUGUESE BEND RDA (825) PORT BEND RDA (375)
ACTUAL ACTUAL ACTUAL ESTIMATE PROPOSED
OBJECT EXPENSE EXPENSE BUDGET TO CLOSE BUDGET
CODE EXPENDITURE CLASSIFICATION 1987-88 1988-89 1989-90 1989-90 1990-91
BEGINNING FUND BALANCE 744 ,772 (423 ,473) (512 ,525) (512, 525)
PROPERTY TAX INCREMENT 52,841 0 311,000 0 305,000
INTEREST EARNINGS 25,377 0 0 0 0
OTHER REVENUE 1,350 0 0 300 0
CDBG REIMBURSEMENT 0 0 0 0
CITY LOAN TO RDA 0 894 ,948 0 862,225
TOTAL REVENUES 79,568 944 ,948 311,000 862 ,525 305,000
TOTAL RESOURCES 824 ,340 521,475 ( 201,525) 350,000 305,000
OPERATIONS & MAINTENANCE
. 25 MISC CONTRACTUAL SVCS 802,336 871,000 50,000 68,000 75,000
. 37 PUBLIC WORKS CONTRACTOR 249,041 115,500 59,000 39,000 75,000
.39 PROF & CONSULTING SERVICES 0 23 ,000 27 ,500 25,000 30 ,000
.40 LEGAL SERVICES 196,436 24 ,500 54 ,000 70,000 50 ,000
.41 GEOLOGIC SERVICES 0 0 6 ,000 8 ,000 10,000
.75 REFUNDS & REIMBURSEMENTS 0 0 0 140,000 0
TOTAL OPERATIONS & MAINTENANCE 1 ,247 ,813 1,034,000 196,500 350,000 240,000
CAPITAL OUTLAY
.80 LAND 0 0 0 0 50,000
TOTAL CAPITAL OUTLAY 0 0 0 0 , 50,000
.95 CONTINGENCY 0 0 10 ,000 0 15,000
TOTAL DEPARTMENT $1 ,247 ,813 $1,034 ,000 $206 ,500 $350 ,000 $305,000
FUND BALANCE ($423 ,473 ) ($512, 525) ($408 ,025) $0 $0
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CITY OF RANCHO PALOS VERDES
JUSTIFICATION SHEET
DEPARTMENT: RDA
ACCOUNT NUMBER: 825
EXPENSE CODE ITEM, DESCRIPTION, & JUSTIFICATION ESTIMATED COST
.25 MISCELLANEOUS CONTRACTUAL SERVICES 75,000
Dewatering ($15,000)
Budget for the maintenance of the existing wells with no additional
wells.
Grading/Drainage ($35,000)
The cost of grading and drainage improvements and maintenance of the
Gabions.
General Operation and Maintenance ($25,000)
The cost of maintaining drainage and access improvements within the
RDA. This includes surface drains, well drain lines, well sites,
electrical usage and well repair .
.37 PUBLIC WORKS CONTRACTOR 75,000
The cost of administration existing and proposed programs within the
RDA. This includes non-direct engineering and staff administration
time.
Administration/Engineering ($25,000)
The cost of design review and or preparation of 'speci f ications for
projects within the RDA, and inspection of projects during construction
to verify contract compliance. This item includes the cost of LA
County Surveying.
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CITY OF RANCHO PALOS VERDES
JUSTIFICATION SHEET
DEPARTMENT: RDA
ACCOUNT NUMBER: 825
EXPENSE CODE ITEM, DESCRIPTION, & JUSTIFICATION ESTIMATED COST
.39 PROFESSIONAL AND CONSULTING SERVICES 30 ,000
Expenses related to seeking legislation and revenue from other
agencies. Includes fees for :
Del Smith $ 6 ,000
Barna Szabo $24 ,000
. 40 LEGAL SERVICES 50,000
Cost of Agency attorney for review of legal documents and agreements.
This would also cover the cost of attendance at RDA meetings and advice
to the Agency Directors.
.41 GEOLOGIC SERVICES 10,000
Surveying - Allocations for 2 surveys.
.80 LAND 50,000
This is for purchase of lots that are involved in litigation or
are part of a mitigation project that would benefit the RDA by
purchasing.
. 95 CONT INGENCY 15,000
This represents a reserve of the general operating expenses for
non-budgeted and emergency projects .
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CITY OF RANCHO PALOS VERDES
DEPARTMENT: PROGRAM: FUND:
REDEVELOPMENT AGENCY (830) ABALONE COVE RDA (830) ABALONE COVE RDA (380)
ACTUAL ESTIMATE PROPOSED
OBJECT ACTUAL ACTUAL BUDGET TO CLOSE BUDGET
CODE EXPENDITURE CLASSIFICATION 1987-88 1988-89 1989-90 1989-90 1990-91
BEGINNING FUND BALANCE 0 (78,715) (457 ,632) (457 ,632) 0
PROPERTY TAX INCREMENT 0 0 254,056 0 180,000
INTEREST EARNINGS 0 0 850,000 0 300,000
OTHER REVENUE 0 0 8 ,500,000 1,142,105 8 ,750,000
CITY ADVANCES 0 0 0 270,527
TOTAL REVENUES $0 $0 $9 ,604,056 $1,412,632 $9, 230,000
TOTAL RESOURCES 0 (78 ,715) 9 ,146,424 955,000 9, 230,000
EXPENDITURES
OPERATIONS & MAINTENANCE
. 25 MISC CONTRACTUAL SVCS 336 10,130 175,000 5,000 15,000
.37 PUBLIC WORKS CONTRACTOR 30,671 0 150,000 150,000 225,000
.39 PROF & CONSULTING SERVICES 47 ,708 81,165 275,000 250,000 435,000
.40 LEGAL SERVICES 0 284 ,651 36,000 100,000 100,000
.42 CONSTRUCTION SERVICES 0 2,971 400,000 450,000 800,000
FUTURE BOND EXPENSE RESERVE 0 0 254 ,056 0 254 ,056
REIMBURSE CITY ADVANCE 0 0 500,000 0 500,000
TOTAL OPERATIONS & MAINTENANCE 78,715 378,917 1,790 ,056 955,000 2, 329,056
.95 CONTINGENCY/LITIGATION 0 0 50,000 0 50,000
TOTAL DEPARTMENT 78,715 378 ,917 1,840,056 955,000 2, 379,056
ENDING FUND BALANCE ($78,715) ($457 ,632) $7 ,306,368 $0 $6 ,850,944
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CITY OF RANCHO PALOS VERDES
JUSTIFICATION SHEET
DEPARTMENT: 300
ACCOUNT NUMBER: 830 ABALONE COVE
EXPENSE CODE ITEM, DESCRIPTION, & JUSTIFICATION ESTIMATED COST
.25 MISCELLANEOUS CONTRACTUAL SERVICES 15,000
General Operations and Maintenance
.37 PUBLIC WORKS CONTRACTOR 225,000
Includes staff time for administration of the Technical Panel , the
Horan Settlement and construction of projects, etc.
.39 PROFESSIONAL AND CONSULTING SERVICES 435,000
Outside engineering, staff engineering and investigations related to
specific projects and any related subconsultants or inspections
including LA County surveying.
Design $415,000
Surveying $ 20,000
. 40 LEGAL SERVICES 100,000
Legal services required to interpret the settlement, advise Panel
or to review items for legal interpretation.
.42 CONSTRUCTION SERVICES 800,000
• Alta Mira Canyon Drainage Improvement ($250 ,000)
Miscellaneous Storm Water Improvements ($500,000)
Kelvin Canyon Improvements ($50 ,000)
FUTURE BOND EXPENSE RESERVE 254,056
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CITY OF RANCHO PALOS VERDES
JUSTIFICATION SHEET
DEPARTMENT: 300
ACCOUNT NUMBER: 830 ABALONE COVE
EXPENSE CODE ITEM, DESCRIPTION, & JUSTIFICATION ESTIMATED COST
• REIMBURSS CITY ADVANCE 500,000
. 95 CON?INGENCY/LITIGATION 50,000
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