RDA RES 1998-007 RESOLUTION NO. RDA 98-07
A RESOLUTION OF THE RANCHO PALOS VERDES REDEVELOPMENT AGENCY
ADOPTING THE OPERATING AND CAPITAL IMPROVEMENT
BUDGET FOR FISCAL YEAR 1998-99.
WHEREAS, the Board of the Rancho Palos Verdes Redevelopment Agency desires to
adopt the following resolution adopting the capital budget for the 1998-99 fiscal year.
NOW, THEREFORE, BE IT RESOLVED, THAT THE BOARD OF THE RANCHO PALOS
VERDES REDEVELOPMENT AGENCY DOES HEREBY ADOPT THE FOLLOWING 1998-
99 OPERATING AND CAPITAL BUDGET.
SECTION 1: The 1998-99 Revenue Budget (inclusive of transfers from the City's
General Fund) is hereby adopted, establishing the following revenue levels:
1998-99
PROGRAM ADOPTED BUDGET
Portuguese Bend Project Area $ 727,500
Abalone Cove Project Area 250,000
RDA Housing Set Aside Fund 115,120
Abalone Cove Debt Service Fund 979,920
TOTAL REVENUES $ 2,072,540
SECTION 2: An operating and capital budget for Fiscal Year 1998-99 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:
1998-99
PROGRAM ADOPTED BUDGET
Portuguese Bend Project Area
Administration $ 40,460
RDA Engineering 32,500
Agency Attorney 10,000
Capital Projects 231,500
Loan to Other Agency 500,000
Abalone Cove Project Area
Administration $ 14,500
RDA Engineering 4,000
Agency Attorney 30,000
Capital Projects 4,483,000
Peer Review Consultants 20,000
RDA Housing Set-Aside Fund 5,000
Abalone Cove Debt Service Fund 1,015,370
TOTAL OPERATING AND CAPITAL EXPENDITURES $ 6,386,330
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 3RD DAY OF JUNE, 1998.
AGENCY CHAIRPERSON
ATTEST:
;1 A GENCY SECRETARY
State of California )
County of Los Angeles )ss
City of Rancho Palos Verdes )
I, JO PURCELL, Agency Secretary of the Rancho Palos Verdes Redevelopment Agency,
hereby certify that the above Resolution No. RDA 98-07 was duly and regularly passed
and adopted by the said Redevelopment Agency at regular meeting thereof held on June
3, 1998.
97) /
AGENCY SECRETARY
-2- Resol. No. RDA 98-07
I CITY OF RANCHO PALOS VERDES
REDEVELOPMENT AGENCY
` ANNUAL BUDGET
for the fiscal year ending June 30, 1999
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AGENCY OFFICIALS
Barbara Ferraro
Chair
Tom Hollingsworth
Vice Chair
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` Lee Byrd
Board Member
Marilyn Lyon
Board Member
John McTaggart
Board Member
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Les Evans
Executive Director
Rancho Palos Verdes
Redevelopment Agency
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TABLE OF CONTENTS
1998-99 ANNUAL BUDGET
' RANCHO PALOS VERDES REDEVELOPMENT AGENCY
Executive Director's Transmittal Letter
Summary of Loans from City
Summary of Fund Balance Status iv
Portuguese Bend Fund (375) 1
Abalone Cove Fund (380) 15
RDA Housing Set Aside Fund (118) 28
Abalone Cove Debt Service Fund (210) 30
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Rancho Palos Verdes
Redevelopment Agency
RANCHO Pios VERDES
REDEVELOPMENT AGENCY
TO: HONORABLE CHAIRMAN AND MEMBERS OF THE BOARD
FROM: EXECUTIVE DIRECTOR
DATE: JULY 1, 1998
SUBJECT: ADOPTED 1998-99 REDEVELOPMENT AGENCY BUDGET
Under cover of this memorandum, the staff respectfully transmits the adopted
Redevelopment Agency budget for the 1998-99 fiscal year. The Rancho Palos Verdes
Redevelopment Agency (RDA)was established in 1984 with the primary purpose of
providing mitigation measures to stabilize landslides in the Abalone Cove and
Portuguese Bend areas of the City.
All expenditures in Portuguese Bend are paid for with loans from the City's General
Fund. Expenditures in Abalone Cove are made with proceeds from County bonds
issued in accordance with the Landslide Reimbursement Settlement Agreement and
re-financed in 1997 between the Redevelopment Agency, the County, and several
property owners in Abalone Cove. Consistent with our practice over the last several
years, the budget is divided into two separate funds based on the geographical
boundaries of these two areas. The separation of the budget and accounting of the two
project areas into individual fund helps to assure that County bond proceeds are not
used in the Portuguese Bend portion of the project area.
operating and maintenance expenditures are budgeted in the Joint Powers
All p 9 P 9
Improvement Authority (JPIA). This is consistent with California Redevelopment Law
that prohibits an Agency from performing maintenance and operations functions.
Funding for maintenance activities in the Abalone Cove area is provided for through the
Abalone Cove Maintenance Trust Fund. This fund was established as specified in the
Landslide Settlement Agreement. Financing for maintenance activities in the
Portuguese Bend area is provided by fund transfers from the City's General Fund.
Portuguese Bend
Most activities in the Portuguese Bend area are focused on mitigation measures to
stabilize the landslide. The Portuguese Bend RDA budget includes two new capital
improvement projects proposed by the City Geologist and recommended by an ad hoc
landslide subcommittee of the RDA Board. The first is to re-establish positive drainage
in a portion of Portuguese Canyon located north of Palos Verdes Drive South. The
second project involves filling a depression in the upper portion of Portuguese Canyon
30940 HAWTHORNE BOULEVARD / RANCHO PALOS VERDES, CA 90274-5391 / (213)377-0360
to provide resisting force to the landslide. The installation of de-watering wells was
included in the FY 96-97 and 97-98 budgets. However, several of these wells were not
installed and have not been re-budgeted for FY 98-99 due to low water productions
during testing.
FY 98-99 is the fifth year of the RDA's participation in the shoreline protection feasibility
study being prepared by the U.S. Army Corps of Engineers. Because the alternatives
presented by the Army Corps of Engineers did not include Abalone Cove, the cost of
the study is no longer shared with the Abalone Cove fund, but is now entirely within the
Portuguese Bend budget. Shore protection is one of the priorities established by the
Panel of Experts in 1989 to help in stabilizing the landslide. This year's budget
includes a pro-rata share for the preparation of preliminary plans for the shore
protection project, should one be deemed feasible and participation is approved by the
RDA.
The adopted budget includes a loan to the Agency from the City's General Fund of
$700,000. The loan is substantially larger this fiscal year compared to previous years,
due to the fact that the Board has authorized a $500,000 loan to the Portuguese Bend
Club Homeowners Association to finance the installation of privately-owned sewers to
mitigate landslide movement in this neighborhood.
Abalone Cove
All landslide mitigation measures by the RDA in the Abalone Cove area are a result of
the priority list established by the Abalone Cove Panel of Experts. The purpose of all
projects (except the shoreline protection feasibility study) is to remove water from the
slide or to prevent the water from reaching the slide plane.
Four capital improvement projects have been re-budgeted for FY 98-99: the Abalone
Cove sanitary sewer system, the Altamira Canyon drainage improvements, the Abalone
Cove storm drain improvements, and a de-watering well adjacent to Kelvin Canyon.
The environmental review, planning and construction design of these projects is nearly
complete. In addition, during the past year, the City re-structured the County landslide
abatement assessment bonds. By achieving this, the City was able to save
approximately $6 million in debt service and remove liens from both private and public
properties located within the Abalone Cove landslide area. This achievement now
allows the City to move forward on providing sewers and proper drainage in the area.
Respectfully submitted,
124,)„,,
Les Evans
Executive Director
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RANCHO PALOS VERDES REDEVELOPMENT AGENCY
SUMMARY OF LOANS FROM CITY
FISCAL YEARS 1995-96 THRU 1998-99
Portuguese Bend
ILoan Balance at July 1, 1995 $ 3,426,131
PLUS: Loan Advance from City 435,000
I Interest 357,021
Total Additions- FY 95-96 792,021
Loan Balance at July 1, 1996 4,218,152
PLUS: Loan Advance from City 250,000
Interest 366,703
I Total Additions- FY 96-97 616,703
Loan Balance at July 1, 1997 4,834,855
I PLUS: Loan Advance from City 200,000
Interest 423,681
Total Additions - FY 97-98 623,681
Loan Balance at July 1, 1998 5,458,536
PLUS: Loan Advance from City 700,000
Interest 527,820
ITotal Additions- FY 98-99 1,227,820
Loan Balance at June 30, 1999 $ 6,686,356
Abalone Cove
I Loan Balance at July 1, 1997 $ 0
PLUS: Loan Advance from City 1,545,000
Interest 77,510
I Total Additions - FY 97-98 1,622,510 622,510
Loan Balance at July 1, 1998 1,622,510
I PLUS: Loan Advance from City 0
Interest
139,600
Total Additions- FY 98-99 139,600
Loan Balance at June 30, 1999 $ 1,762,110
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RANCHO PALOS VERDES REDEVELOPMENT AGENCY
SUMMARY OF FUND BALANCE STATUS
FISCAL YEAR 1998-99
ESTIMATED RESOURCES: iiii:1 TOTAL i:::::BUDGETED APPROPRIATIONS: :;:: TOTAL ESTIMATED
FUND 1998/99 iiiii. RESOURCES ii 1998/99 g APPROPRIATIONS ;:iiii FUND
BALANCE 1998/99 TRANSFERS ;:iii: ESTIMATED iiiii: TRNSFR OUT/ 1998/99 iiiii; BUDGETED FOR Iiiii BALANCE
FUND 6/30/98 REVENUE IN iii:;:. FOR 1998/99 ;;Iiiii RESERVES EXPENDITURES ;ii;iii 1998/99 ::::::: 6/30/99
"" IN
375 PORTUGUESE BEND FUND 391,959 27,500 700,000 il::::: 1,119,459 i::::::: 0 814,460 i::: 814,460 :::i: 304,999
380 ABALONE COVE FUND 5,738,204 250,000 0 igii 5,988,204 1:i 0 4,551,500 ki 4,551,500 gi: 1,436,704
118 HOUSING SET-ASIDE FUND 773,336 115,120 0 ;1iiiii 888,456 ;::::1; 0 5,000 :*:::*i: 5,000 qi: 883,456
210 DEBT SERVICE FUND 126,053 979,920 0 ::::::: 1,105,973 ii::: 0 1,015,370 I ;::::::: 90,603
Eli MI 1111111 NMI MI WM MIS MEI NMI MI NIS SI Milt EMI MIMI 1111111 NMI UM SIMI
II FUNCTION: FUND:
RDA - PORTUGUESE BEND
RDA - PORTUGUESE BEND (375)
IYEAR-END
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET
1995-96 1996-97 1997-98 1997-98 1998-99
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I REVENUES
347.10 INTEREST EARNINGS
28,421 30,629 10,000 25,000 17,500
375.10 PV PORTUGUESE BEND, LLC (GPS)
43,767 16,078 0 0 10,000
364.10 GRANT INCOME (FEMA) 24,201 0 0 0 0
IMMMNt §ONNCMMMBMBMMMM:::i:i:::::::i:i::M§MgtiiiME:ngpgi:::Emgpgggiiiiimiiiiiiinpxgiii:i:ii:iiiiiiiigp.x.ggt:
TRANSFERS
I391.10 LONG TERM LOAN FROM CITY 435,000 250,000 200,000 200,000 700,000
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I PROGRAM SUMMARY
PORTUGUESE BEND
ADMINISTRATION (720) 43,664 43,470 43,160 38,960 40,460
RDA ENGINEERING (721) 25,273 31,622 32,500 32,500 32,500
I AGENCY ATTORNEY (722)
OPERATIONS&MAINTENANCE (724) 9,764 8,432 12,000 8,000 10,000
37,525 0 0
0 0
CAPITAL PROJECTS(725) 262,594 142,603 375,500 206,500 231,500
I1P4 PO3AM$ 2 IV 41 2BG 314
391.20 LOAN TO OTHER AGENCY 0 0 0 0 500,000
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Il'il:iliii:iii:i::::iniatiOnNOISMNICE::i:i::::::.::Iii::: ::::::::.:::::::::::::::::::::::::::::::::::IM::::::::::::•::::::::::::a$MC:::::i.:::::::::A.M.00::::::::::::::::::MOS.M:::::::::::::::::::::::::::WOOW:iii:::::::::::::: ::004A90:::
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PROGRAM: FUND:
RDA - PORTUGUESE BEND - ADMINISTRATION (720) RDA - PORTUGUESE BEND (375)
YEAR-END
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET
1995-96 1996-97 1997-98 1997-98 1998-99
OPERATIONS&MAINTENANCE
.35 PROFESSIONAL/TECHNICAL SERVICES 22,183 17,036 22,200 18,000 18,000
.50 OPERATING SUPPLIES 757 1,476 500 500 1,500
.53 POSTAGE 0 0 0 0 0
.71 MEETINGS AND CONFERENCES 7,612 11,672 7,000 7,000 7,000
.72 MEMBERSHIPS AND DUES 12,831 13,286 13,460 13,460 13,960
.91 DEBT SERVICE-INTEREST 281 0 0 0 0
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Program: RDA Portuguese Bend Administration (375-720)
Code Description Amount
' .35 PROFESSIONAL/TECHNICAL SERVICES 18,000
The FY 97-98 year end estimate is less than the amount
budgeted, resulting from reduced administrative support
services. FY 98-99 activity provides for the following:
' 1. Administrative support for the Portuguese Bend portion
of the RDA with the exception of capital projects. ($5,000)
r2. Services of Washington lobbyist related to Army Corps
projects. ($6,000)
3. Annual auditing services. ($2,000)
4. Contract geotechnical consultants to assist in the
review of projects not funded by trust deposits, and those
generally initiated by the City or Redevelopment Agency.
($5,000)
.50 OPERATING SUPPLIES AND MINOR EQUIPMENT 1,500
The FY 98-99 budget is for blueprinting services for various
projects within the Portuguese Bend area. The amount
budgeted is greater than FY 97-98 due to the increase in the
number of projects scheduled for FY 98-99.
.71 MEETINGS AND CONFERENCES 7,000
The FY 98-99 budget provides for landslide stabilization
conferences and meetings.
.72 MEMBERSHIPS AND DUES 13,960
This line item provides for the following annual assessments
or membership dues:
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Abalone Cove Landslide Abatement
District $ 5,560
Klondike Canyon Geologic Hazard
Abatement District $ 6,100
California Redevelopment Association $ 1,500
California Marine Affairs and
Navigation Conference $ 650
Portuguese Bend Community Association $ 150,
$13,960
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Redevelopment Agency
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PROGRAM: FUND:
RDA - PORTUGUESE BEND - RDA ENGINEERING (721) RDA - PORTUGUESE BEND (375)
YEAR-END
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET
1995-96 1996-97 1997-98 1997-98 1998-99
OPERATIONS&MAINTENANCE
.35 PROFESSIONAL/TECHNICAL SERVICES 25,273 31,622 32,500 32,500 32,500
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Program: RDA Portuguese Bend - Engineering (375-721)
Code Description Amount
.35 PROFESSIONAL/TECHNICAL SERVICES 32,500
The FY 98-99 budget provides for GPS monitoring of 62
monuments in the Portuguese Bend, Klondike Canyon and
Flying Triangle Landslide areas, and 12 monuments in the
beach area at the toe of the landslide. Twenty-five of these
monuments are located on property owned by the Palos
Verdes Portuguese Bend, LLC. The reimbursement for GPS
monitoring from Palos Verdes Portuguese Bend, LLC is
estimated to be $10,000 for FY 98-99. The frequency of the
monitoring is prescribed by Dr. Perry Ehlig, the Agency
geologist, and performed through contract services.
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PROGRAM: FUND:
RDA - PORTUGUESE BEND - AGENCY ATTORNEY (722) RDA - PORTUGUESE BEND (375)
YEAR-END
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET
1995-96 1996-97 1997-98 1997-98 1998-99
OPERATIONS&MAINTENANCE
.40 LEGAL SERVICES 9,764 8,432 12,000 8,000 10,000
....::.:,.i;�� ::4f:,,P,:4�!'c.....�..�..'Yf..�7f!�Se,A,.'N,.;7t ;rrt,..:,,..::.........................f...............................:::..:.:.:.:::.::::.:::::::.:::.:::.:::::.::::.:::::::.:...::::....::.:.:::::.:::.{:..:..::::•
::r.>:t:p:.::>: . :: �e :.;:yi.;'.:•.::y:>:.::pr::;r,.::p:::.:::>»:.;:.:r>:::.:r::::a;:.;:.;:,:;r:.:�:;.::.i::.•.:..�".,{t�,.>:.:>:..��..� .V.w ............�.�r. ................3io �.. ......:..Y.> .
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rProgram: RDA Portuguese Bend -Agency Attorney (375-722)
Code Description, Amount
.40 LEGAL SERVICES 10,000
This line item provides for legal services for the
Redevelopment Agency. Actual expenditures will vary
depending on project activity. The FY 97-98 year-end
estimate is less than the amount budgeted because project
activity was less than anticipated.
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PROGRAM: FUND:
RDA - PORT BEND - OPERATIONS & MAINTENANCE (724) RDA - PORTUGUESE BEND (375)
YEAR-END
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ACTUAL ACTUAL BUDGET ESTIMATE BUDGET
1995-96 1996-97 1997-98 1997-98 1998-99
OPERATIONS&MAINTENANCE
.20 LIGHT AND POWER 7,799 0 0 0 0
.30 MAINTENANCE SERVICES 28,674 0 0 0 0
.35 PROFESSIONAL/TECHNICAL SERVICES 1,052 0 0 0 0
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1::::::::1:::::::::::::::::::::avomiorfforw:::::::::::::::::::i::::::::::::::::::::::::::::::::::::::11:1:::::::: ::::::::::::E::::::::::::::::::::::::::::::::::::::::::::mort::::::0::::::::::::::::::::::::::::::::01:::::::::::::::::::::::::::::::::::::1:::::m:0:11::::::::::::::::::1::::: :::::ii::::::::0:::::::::::::ii1:11:11:::::::::::::Em I
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IProgram: RDA Portuguese Bend - Operations and Maintenance (375-724)
I Operations and Maintenance expenses related to the Portugese Bend area are currently
budgeted in the Portugese Bend portion of the Joint Powers Improvement Authority
budget.
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PROGRAM: FUND:
RDA - PORTUGUESE BEND - CAPITAL PROJECTS (725) RDA - PORTUGUESE BEND (375)
YEAR-END I
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET
1995-96 1996-97 1997-98 1997-98 1998-99
OPERATIONS&MAINTENANCE
.35 PROFESSIONAL/TECHNICAL SERVICES 198,650 105,872 250,000 170,000 95,000
.50 OPERATING SUPPLIES&MINOR EQUIP 0 71 500 500 500
.55 LEGAL NOTICE PUBLICATION 376 283 0 0 0
nitaiORROONANt:44****011::iiii:i:i::::::::::::::::::::::39gm::::i:iii:i:iiiMmoi:::::::::::i::::::::::049m:::::::i::::::::44 §9gii.i::::::::.:i:::::::::::::mwOwiliii
CAPITAL OUTLAY
.82 IMPROVEMENTS OTHER THAN BUILDINGS 63,568 36,377 125,000 36,000 136,000
NeiiiiiiiiniinUtiiiiiiiiiiiiiiiiiiiifaMiiiiiiiiiiiiiiiiiiiiiiiingOgiiiiiiiiiiiiiiiiiiiiinagti:
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Program: RDA Portuguese Bend - Capital Projects (375-725)
Code Description, Amount
.35 PROFESSIONAUTECHNICAL SERVICES 95,000
The FY 97-98 year-end estimate is less than the amount
budgeted because the contribution to the Army Corp of
Engineers shoreline protection feasibility study was less than
anticipated. The FY 98-99 budget provides for professional
services for the administration and engineering services
related to the activities listed below:
1. Participation in the Army Corp of Engineers shoreline
protection feasibility study. The amount budgeted reflects the
projected share of RDA costs for preparation of preliminary
plans for a shore protection project, should one be deemed
feasible and participation is approved by the RDA. ($80,000)
' 2. Design, permitting, and inspection services for interim
landslide control measures proposed by the Agency geologist
and recommended by the Landslide Subcommittee of the RDA
Board. ($15,000)
.50 OPERATING SUPPLIES AND MINOR EQUIPMENT 500
This line item provides for blueprinting services and supplies
for the capital projects listed above.
.55 LEGAL NOTICE PUBLICATION -0-
This line item provides for advertising services required for
the public bidding process and notification of affected property
owners. It is anticipated that projects budgeted for FY 98-99
will not include special legal notification costs.
.82 IMPROVEMENTS OTHER THAN BUILDINGS 136,000
' The FY 97-98 budget included installation of five de-watering
wells, including discharge lines, electrical connections and all
necessary well and equipment improvements. The year-end
estimate for FY 97-98 is less than the amount budgeted
because some of the wells were not installed due to low water
production during testing. The FY 98-99 budget reflects the
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cost of a plan of control proposed by the City geologist and ,
recommended by the Landslide Subcommittee of the RDA
Board. The proposed projects include:
1. Re-establish positive drainage in the portion of
Portuguese Canyon located between 450 feet and 1,450 feet
north of Palos Verdes Drive South. ($15,000)
2. Fill the upper Portuguese Canyon depression located
2,200 feet north of Palos Verdes Drive South to provide
resisting force to the landslide. ($21,000)
3. Contingency in the event of an unforeseen project(s) or
increase in a budgeted project(s) requested by the City
Geologist. ($100,000)
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FUNCTION:
FUND:
RDA - ABALONE COVE
RDA - ABALONE COVE (380)
YEAR-END
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET
1995-96 1996-97 1997-98 1997-98 1998-99
REVENUES
111 347.10 INTEREST EARNINGS
368,322 358,883 180,000 325,000 250,000
393.10 PROCEEDS FROM SALE OF BONDS
0 0 5,455,000 5,455,000 0
TRANSFERS
391.10 LONG TERM LOAN FROM CITY 0 0 1,545,000 1,545,000 0
MEMNOW#NOWEE:IMMUMENNOMMENVEMEiMMENMOMMONOMMEINgiiii
PROGRAM SUMMARY
ADMINISTRATION (730) 26,410 11,952 30,100 25,000 14,500
RDA ENGINEERING (731)
AGENCY ATTORNEY(732) 3,016 3,229 4,000 3,500 4,000
31,957 15,083 30,000 60,000 30,000
CAPITAL PROJECTS (735) 309,278 254,835 4,679,400 35,200 4,483,000
PEER REVIEW CONSULTANTS(738) 0 0 20,000 0 20,000
391.20 TRANSFER TO DEBT SERVICE FUND 0 0 8,000,000 8,000,000 0
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PROGRAM: FUND: I
RDA - ABALONE COVE - ADMINISTRATION (730) RDA - ABALONE COVE (380)
YEAR—END I
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET
1995-96 1996-97 1997-98 1997-98 1998-99
OPERATIONS&MAINTENANCE I
.35 PROFESSIONAL/TECHNICAL SERVICES 25,744 11,952 28,600 25,000 13,000
.50 OPERATING SUPPLIES 666 0 1,000 0 1,000
.53 POSTAGE 0 0 500 0 500
::::is::: :::':::::.r'••r.;•>r.x.:�:.r�.y::y;:�:.::,.y.r..:�::::.>ri:Fo:�.>:/:.�r.��.cr��:.:t+Y�:�:�::►.r�r*.:'��.r{.;E�:c.�C.<::Y::i:::;.::?»::::: :: p
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Program: RDA Abalone Cove -Administration (380-730)
' Code Description, Amount
.35 PROFESSIONAL AND TECHNICAL SERVICES 13,000
The FY 98-99 budget was decreased from the previous year
because it was determined that the cost, if any, of the annual
tax increment study will be less. This line item provides for
technical and professional services for the following:
1. Annual tax increment study. ($6,000)
2. General administrative assistance not related to
specific capital projects. ($5,000)
3. Annual auditing services. ($2,000)
.50 OPERATING SUPPLIES 1,000
This line item provides for miscellaneous blueprints and other
supplies for general administration for the Abalone Cove
project area.
.53 POSTAGE 500
This line item provides for the mailings to residents and other
related correspondence.
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PROGRAM: FUND: I
RDA -ABALONE COVE - RDA ENGINEERING (731) RDA -ABALONE COVE (380)
YEAR-END
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ACTUAL ACTUAL BUDGET ESTIMATE BUDGET
1995-96 1996-97 1997-98 1997-98 1998-99
OPERATIONS&MAINTENANCE
.35 PROFESSIONAL/TECHNICAL SERVICES 3,016 3,229 4,000 3,500 4,000
::::::k:T'::?::::.'.:y:.:'-::'.'�a�y.�i yt,t �,}�::?lil•::�Y.t�iF�:F: 'if.'WTi:j::>:ry:f'i:}:::'i,'i,:S ........ ... ..... !c��. .................� �................�' .
:.............��.i. :�iy;FtRZS'l•;l:;f.�i',.,*?l il�...................................................................�...........................F...........................l............................f..........................f........::
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' Program: RDA Abalone Cove - Engineering (380-731)
Code Description Amount
.35 PROFESSIONAL/TECHNICAL SERVICES 4,000
This line item provides for the contract services for annual
monitoring of twenty-two monuments, as recommended by Dr.
Perry Ehlig (Agency Geologist) and performed through
contract services.
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PROGRAM: FUND:
RDA - ABALONE COVE - AGENCY ATTORNEY (732) RDA - ABALONE COVE (380)
YEAR-END
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET
1995-96 1996-97 1997-98 1997-98 1998-99
OPERATIONS&MAINTENANCE
.40 LEGAL SERVICES 31,957 15,083 30,000 60,000 30,000
::::::t :'::::::NN: M:iNOMINNIl4't S!5 ..:..:.............................................................................................................................:.....:.. i N:
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Program: RDA Abalone Cove -Agency Attorney (380-732)
Code Description Amount,
' .40 LEGAL SERVICES 30,000
The year-end estimate for FY 97-98 is greater than budgeted
due to increased costs for legal services related to the
Abalone Cove bond restructuring. The amount budgeted for
FY 98-99 is the same as FY 97-98. This line item provides for
contract legal services to the agency on an as-needed basis.
Actual costs will vary from year to year based on project
activity.
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PROGRAM: FUND:
RDA -ABALONE COVE - CAPITAL PROJECTS (735) RDA - ABALONE COVE (380)
YEAR-END I
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET
1995-96 1996-97 1997-98 1997-98 1998-99
OPERATIONS&MAINTENANCE
.35 PROFESSIONAL/TECHNICAL SERVICES 287,897 253,060 378,000 15,000 170,000
.50 OPERATING SUPPLIES 300 1,005 1,000 200 1,000
.55 LEGAL NOTICE PUBLICATION 54 50 2,000 0 2,000
ntgOgROONNOOIONIMOiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii8miiiiiiiiiiiiiiiii:A41 1 iiiiiiiiiiiiiiiiiiiiii38IANgiiiiiiiiiiiiiiiiiiiiiilik2Qg::::::::::::::::42igmaiii
CAPITAL OUTLAY
.82 IMPROVEMENTS OTHER THAN BUILDINGS 21,027 720 4,298,400 20,000 4,310,000
IMINNINNOWOWNOMETIMENiiiiiiiiiiiiiiiiiingagiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiingiiiiiiiiiiiiiingMiiiiiiiiiiiiiiiiiiiiiiiiggagiiiiiiiiiiiiiNgW.Miiii
::::::::::::::::::::::::::::PROGRAtigrenAti.M::::•::::::::::::::::::::::::::::::::::::ni:::::::::::::::::::::::::::::::::::::::::::;::::::::::::::::Mer:::::::::::::::::::::11gUiln:::::::::::::4:::029.:A0.0:::::::::::::::::::::::::06:100:::::::::::::4::480.K00:::
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' Program: RDA Abalone Cove - Capital Projects (380-735)
Code Description, Amount
.35 PROFESSIONAL/TECHNICAL SERVICES 170,000
The FY 97-98 year-end estimate is less than budgeted
because several projects were not completed. Also,
alternatives presented by the Army Corps of Engineers
shoreline protection feasibility study did not include Abalone
Cove. Therefore, no additional costs were charged to this
project. This line item provides for project specific professional
services for the administration and engineering services
related to the activities listed below.
1. Abalone Cove Sanitary Sewer System: This amount
includes administration and inspection services during project
construction. ($50,000)
' 2. Altamira Canyon Drainage Improvements: This amount
includes engineering services for the preparation of
easements, design services and or design revisions, and
inspection services during project construction. ($60,000)
3. Abalone Cove Drainage Improvements: This amount
includes engineering services for the preparation of
easements, design services and or design revisions, and
inspection services during project construction. ($60,000)
.50 OPERATING SUPPLIES AND MINOR EQUIPMENT 1,000
This line item provides for supplies for capital projects.
.55 LEGAL NOTICE PUBLICATION 2,000
This line item provides for legal notice publication of capital
projects.
.82 IMPROVEMENTS OTHER THAN BUILDINGS 4,310,000
The FY 97-98 year-end estimate is less than budgeted
because several projects were delayed and are being re-
budgeted in FY 98-99. These landslide abatement projects
were recommended by the Panel of Experts to reduce the level
' of ground water drainage into the landslide area.
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The FY 98-99 budget includes the following projects: r
1. Abalone Cove Sanitary Sewer System: Construction of I
a sanitary sewer system in Abalone Cove. ($2,000,000)
2. Altamira Canyon Drainage Improvements: Construction I
of debris basins, channel lining, and other channel
improvements in Altamira Canyon. ($1,250,000)
3. Abalone Cove Drainage Improvements: Provides for I
the construction of a storm drain system of inlets, pipes,
culverts, and open channels within the existing developed II
areas. ($1,000,000)
4. Kelvin Canyon De-watering Well: Conversion of an
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existing monitoring well into a de-watering well. An existing
monitoring well will be equipped with a pump and discharge
facilities. The final cost of this well may be less than budgeted I
if Southern California Edison agrees to pay a portion of the
costs of providing electric power to the site. ($60,000)
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Rancho Palos Verdes
I Redevelopment Agency
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PROGRAM: FUND: I
RDA - ABALONE COVE - PEER REVIEW CONSULTANTS (738) RDA - ABALONE COVE (380)
YEAR-END
I
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET
1995-96 1996-97 1997-98 1997-98 1998-99
OPERATIONS&MAINTENANCE I
.35 PROFESSIONAL/TECHNICAL SERVICES 0 0 20,000 0 20,000
:::i:::::::: :::.EOM '0010Fig:R?F! !M?}r;!::.:.::....:. ........:..........................................................................fi......:.:.:..:..:g::::::::::::ni:...::.:.....n ..
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O ':'.':f•'.':::::j::35:S::Si:3i:i'::::?::<::jS::;t::::j::::::::: :j::::: ::5:::::::::i:::::::$':::::<3::j'::.':: 35%:: :::::jj::::F:<:::::`.:ti:::: ::<:::: .'•....'.':::r:::::::is:::::.,:::t::'.:2t :::::#:::;.y::'.. ';'i:
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' Program: RDA Abalone Cove - Peer Review Consultants (380-738)
Code Description, Amount
.35 PROFESSIONAL/TECHNICAL SERVICES 20,000
The Panel of Experts disbanded during FY 95-96. However,
' there may be need for review work by peer review consultants
in FY 98-99.
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FUNCTION: FUND:
RDA HOUSING SET-ASIDE (318) RDA HOUSING SET-ASIDE (118)
YEAR-END
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET
1995-96 1996-97 1997-98 1997-98 1998-99
. .....................
REVENUES
311.10 PROPERTY TAX INCREMENT 70,491 79,886 75,000 76,250 78,120
347.10 INTEREST EARNINGS 27,565 32,489 33,000 36,500 37,000
.::.::... ...
.......... . . ...................;...
EXPENDITURES
OPERATIONS&MAINTENANCE
.35 PROFESSIONAL/TECHNICAL SERVICES 2,000 0 5,000 0 5,000
............. . . .. ...... .. ......
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IProgram: RDA Housing Set-Aside Fund (118-318)
IThe Housing Set-Aside Fund is used to account for the portion of Redevelopment tax
increment revenue to be set-aside for the development of low and moderate income
I housing. This set-aside of tax increment is a requirement under California Redevelopment
Law Section 33334.
ICode Description, Amount,
.35 PROFESSIONAUTECHNICAL SERVICES 5,000
IThis line item provides for consulting services to assist the
Agency in the administration of the Housing Set-Aside
Iprogram development and reporting requirements.
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FUNCTION: FUND:
DEBT SERVICE (610) DEBT SERVICE (210)
YEAR-END
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET
1995-96 1996-97 1997-98 1997-98 1998-99
REVENUES
311.10 PROPERTY TAX INCREMENT 281,966 319,543 310,000 305,000 312,500
347.10 INTEREST EARNINGS 81,700 96,840 100,000 55,000 0
395.50 LONG TERM ADVANCE FROM CITY 357,021 366,703 505,481 501,191 667,420
TRANSFERS IN
391.10 TRANSFER IN-AB COVE CAPITAL PROJECT 0 0 8,000,000 8,000,000 0
EXPENDITURES
.92 PASS THRU TO LOS ANGELES COUNTY 59,120 67,079 65,000 64,000 65,700
.35 COUNTY ADMINISTRATIVE FEE 7,274 8,421 10,000 9,000 9,500
.90 REPAYMENT OF PRINCIPAL 0 0 10,000,000 10,000,000 0
.91 INTEREST EXPENSE 357,021 366,703 642,156 637,566 940,170
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' Program: RDA Debt Service Fund (210-610)
The Debt Service Fund is used to account for the accumulation of resources for, and the
payment of, principal and interest on the Redevelopment Agency's debt and other long-
term obligations. The Agency's gross property tax increment revenue is recorded in this
fund. Property tax increment is the portion of property taxes attributable to the
Redevelopment Agency project area that exceed the fixed base year amount. The base
year of FY 1984-85 is the year in which the Agency was formed.
Code Description, Amount
395.50 LONG TERM ADVANCE FROM CITY 667,420
This line item provides for a long term advance from the City
to the Agency to record the unpaid accrued interest on all
' outstanding loans from the City to the Agency. The interest
expense is recorded below using account code .91.
' .92 PASS THRU TO LOS ANGELES COUNTY 65,700
Property tax increment revenues are recorded as a gross
amount. However, the Agency does not receive 100% of the
tax increment. The Los Angeles County Fire Protection
District receives approximately 17% of the tax increment. This
' budget line item reflects the portion of the tax increment that
is remitted to the Fire District directly by the County.
.35 PROFESSIONAL/TECHNICAL SERVICES 9,500
This line item provides for the payment of an administrative fee
to the County for their expenses in administering the property
tax system. All entities are charged an administrative fee by
the County and it is anticipated that the fees will be increased
slightly in FY 98-99.
.91 INTEREST EXPENSE 940,170
This line item provides for recording the interest expenditure
on the following long-term debts of the Redevelopment
Agency.
1. The FY 98-99 interest accumulating on the loan from
the City to the Portuguese Bend Fund of the Agency.
($527,820)
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2. The FY 98-99 interest accumulating on the loan from I
the City to the Abalone Cove Fund of the Agency. ($139,600)
3. The FY 98-99 interest to be paid to the County of Los I
Angeles under the terms of the bond restructuring. ($272,750)
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