html5-img
1 / 22

A City Council Workshop on Redevelopment

A City Council Workshop on Redevelopment. July 12, 2011. Agenda for this evening. Background State Legislation that Changed Redevelopment Law Financial Impacts to the City of Pinole Real Estate Holdings Future Income FY 2011/12 Budget Ongoing Programs & Projects

evelina
Télécharger la présentation

A City Council Workshop on Redevelopment

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. A City Council Workshop on Redevelopment July 12, 2011

  2. Agenda for this evening • Background • State Legislation that Changed Redevelopment Law • Financial Impacts to the City of Pinole • Real Estate Holdings • Future Income • FY 2011/12 Budget • Ongoing Programs & Projects • Conclusions & Recommendations

  3. Part One: Background Changes to Redevelopment Law OVERVIEW of ABx126 and ABx1 27

  4. DISTRIBUTION TO TAXING ENTITIES • % of distribution of disposition of assets and remaining tax increment to Taxing Entities: • School District – 57% • City – 19% • County – 15% • Special Districts –9%

  5. Part Two: Financial Impact to the City of Pinole

  6. Policy Issue to Consider: Should the City of Pinole retain the Redevelopment Agency ? Financial Factors that must be considered: • Impact to Real Estate Holdings • Impact to Future Income • Impact to FY 2011 – 12 Operations Budget • Impact to Ongoing Projects and Programs

  7. 1. Impact to real estate holdings

  8. Impacts to Real Estate Holdings

  9. Distribution of Real Estate Proceeds M Million Million Million Million

  10. 2. Impact to FUTURE INCOME

  11. Future Income Stream • Tax increment (non Housing) • Tax increment (Housing) • Loan payments to Agency • City investment agreement $2.5 Million total • SERAF $4.2 Million total • Lease payments to Agency • Pinole Vista Shopping Center $530,000 / yr • Pinole Assisted Living $540,000 / yr

  12. Cumulative Impact to Income Stream

  13. Cumulative of Seven Year Revenue Stream

  14. 3. Impact TO ADOPTED FY 2011 – 12 OPERATING BUDGET

  15. Conclusions and Recommendations

  16. Summary of Impacts

  17. Conclusions If RDA is retained: • City will have significantly more one-time and ongoing funding • City retains Housing Program - Safeguards PALC settlement funds. - Maintains control over location and concentration of affordable housing units.

  18. Recommendations • Retain RDA • Adopt ordinance at Special meeting in August 2011 • Review FY 2011/12 RDA Budget on August 16, 2011

More Related