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REDEVELOPMENT AGENCY

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SALINAS REDEVELOPMENT AGENCY

MINUTES OF MEETING

APRIL 27, 2004

 

The Agency convened in regular session at 4:55 p.m. in the Rotunda.

 

Present:

Chairperson Anna Caballero

Agency member Janet Barnes

Agency member Gloria De La Rosa

Agency member Jyl Lutes

Agency member Roberto Ocampo

Agency member Sergio Sanchez

 

Absent:

Agency member Maria Giuriato

 

Also Present:

City Manager Dave Mora

Agency Counsel Richard E. Nosky

Secretary Ann Camel

 

AGENCY ACTION

Upon motion by Agency member Lutes and second by Agency member Barnes, the Agency voted unanimously to adopt the Consent Resolution.  Absent:  Agency member Giuriato.

 

1.          Approved April 20, 2004 minutes.

2.          Approved Financial Claim Report.

 

JOINT CITY COUNCIL/REDEVELOPMENT AGENCY CONSIDERATION

3.   Mid-Year Budget Report

Tom Kever, Finance Director, presented his report, which is available on the City’s website.  The 2002-03 carry over was $2,110,491.  In keeping with Council policy, the carry over was allocated as follows:  $600,000 to the workers’ compensation reserve; $838,900 to capital improvement reserve; and $671,591 to operating reserve.  The carry over projections have proven accurate, but reserves will be exhausted over the next three years as part of the deficit reduction strategy. 

 

Gary Filice, 231 Sansome Street, asked how the armory purchase would be funded.  Mr. Kever stated that Council authorized bonds for facilities that would be supported by a one-quarter cent sales tax issue if approved by the voters. 

 

Councilmembers expressed their thanks to staff for their sound financial forecasts that assists the Council in ensuring that the City remains solvent.  There have been public forecasts of ten to fifteen percent in revenue increases, which have not materialized and would have created greater fiscal crisis if relied upon.

 

COUNCIL/AGENCY ACTION

Upon motion by Council/Agency member Ocampo and second by Council/Agency member Barnes, Council/Agency voted unanimously to approve adjustments to estimated revenues, appropriations, transfers, and reserves.  Absent:  Council/Agency member Giuriato.

 

The Agency adjourned at 5:30 p.m.