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Item 10 Staff Report Adopt the Resolution Approving the 1997-98 Annual Report for the Los Gatos Redevelopment Agencyr- DATE: TO: FROM: TOWN MANAGER/EXECUTIVE DIRECTO MEETING DATE: 12/21/98 ITEM NO. Jo COUNCIL/AGENCY AGENDA REPORT December 18, 1998 MAYOR AND TOWN COUNCIL/CHAIR AND 4MEM ERS OF THE REDEVELOPMENT AGENCY SUBJECT: ADOPT RESOLUTION APPROVING THE 1997-98 ANNUAL REPORT FOR THE LOS GATOS REDEVELOPMENT AGENCY. RECOMMENDATION: Adopt resolution approving the 1997-98 Annual Report for the Los Gatos Redevelopment Agency. DISCUSSION: California redevelopment law requires every redevelopment agency to present a report to its legislative body within six months of the end of the agency's fiscal year. The legislative body is required to review the report and take any action it deems appropriate. The report must contain all the following: 1. An independent financial audit report for the previous fiscal year. 2. A fiscal statement for the previous fiscal year. 3. A description of the agency's activities affecting housing and displacement. 4. Any other information which the agency believes useful to explain its programs. The 1997-98 audit (Attachment 1, Exhibit A) includes the auditor's opinion of the Agency's operations and financial position, and the Agency's compliance with laws, regulations and administrative requirements governing the agency, including all fmancial activities involving low- and moderate -income housing funds. The Annual Report of Financial Transactions of Community Redevelopment Agencies (Attachment 1, Exhibit B) consists of forms provided by the State Department of Housing and Community Development. The completed forms describe the Agency's activities affecting housing and displacement. To date, the Agency has not received sufficient revenue to initiate any housing activity. However, the Agency is currently developing specific programs and discussing potential projects with developers to increase the supply of affordable housing in the community. CONCLUSION: Upon approval by the Council, the audit and Annual Report of Financial Transactions of Community Redevelopment Agencies will be sent to the State Controller and the State Department of Housing and Community Development. PREPARED BY: LEE E. BOWMAN Planning Director/Redevelopment Deputy Director Reviewed by: Attorney/General Counsel ti E BRAUCHT Director Revised: 12/18/98 2:58 pm Reformatted: 10/23/95 x; PAGE 2 MAYOR AND TOWN COUNCIL/CHAIR AND MEMBERS OF THE REDEVELOPMENT AGENCY SUBJECT: ADOPT RESOLUTION APPROVING 1997-98 ANNUAL REPORT December 18, 1998 ENVIRONMENTAL ASSESSMENT: Approval of the Redevelopment Agency Annual Report is not a project subject to CEQA. FISCAL IMPACT: None. ATTACHMENT: 1. Resolution approving the 97-98 Annual Report for the Los Gatos Redevelopment Agency Exhibit A - Redevelopment Agency Audit for Fiscal Year 97-98 Exhibit B - Annual Report of Financial Transactions of Community Redevelopment Agencies for Fiscal Year 97-98 LEB:BL:mdc N:1DEV\B UD\RDA12-21 ANN RESOLUTION 1998 - RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS APPROVING THE 1997-98 ANNUAL REPORT FOR THE LOS GATOS REDEVELOPMENT AGENCY WHEREAS: 1. The California Community Redevelopment Law (§33080.1) requires every redevelopment agency to present a report on financial and housing activity to its legislative body within six months of the end of the agency's fiscal year. 2. The Annual Report for the Redevelopment Agency consists of an independent financial audit report for the previous fiscal year, a fiscal statement for the previous fiscal year, and a report describing the agency's activities affecting housing and displacement. 3. The audit issued by Maze and Associates, attached hereto as Exhibit A, gives an unqualified opinion of the Redevelopment Agency's financial activities includes the auditor's opinion of the agency's operations and financial position, and the agency's compliance with laws, regulations and administrative requirements governing activities of the agency, including all financial activities involving low- and moderate -income housing funds. 4. The Annual Report of Financial Transactions of Community Redevelopment Agencies, attached hereto as Exhibit B, consists of forms provided by the State Department of Housing and Community Development and the completed forms describe the Agency's activities affecting housing and displacement. 5. Approval of the 1997-98 Annual Report for the Los Gatos Redevelopment Agency does not constitute a project for purposes of the California Environmental Quality Act ("CEQA"). RESOLVED, that the Town Council hereby approves and adopts the 1997-98 Annual Report for the Los Gatos Redevelopment Agency, attached hereto as Exhibits A and B. ATTACHMENT 1 FURTHER RESOLVED, that the Town Council determines the planning and administrative expenses from the Low and Moderate Income Housing Fund are necessary for the production, improvement, or preservation of low- and moderate- income housing. PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Los Gatos, California, held on the COUNCIL MEMBERS: AYES: NAYS: ABSENT: ABSTAIN: ATTEST: day of December, 1998 by the following vote: SIGNED: MAYOR OF THE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA CLERK OF THE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA Town of Los Gatos 110 E. Main Street Los Gatos, CA 95032 (408) 354-6834 Fax: (408) 354-8431 FAX TRANSMISSION COVER SHEET Date: December 22, 1998 To: Stephanie Thompson Fax: 271 3520 Sender: Cathleen Bruhn, Deputy Town Clerk YOU SHOULD RECEIVE 8 PAGE(S), INCLUDING THIS COVER SHEET. IF YOU DO NOT RECEIVE ALL THE PAGES, PLEASE CALL (408) 354-6834. have a great day RESOLUTION 1998 - 205 RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS APPROVING THE 1997-98 ANNUAL REPORT FOR THE LOS GATOS REDEVELOPMENT AGENCY WHEREAS: 1. The California Community Redevelopment Law (§33080.1) requires every redevelopment agency to present a report on financial and housing activity to its legislative body within six months of the end of the agency's fiscal year. 2. The Annual Report for the Redevelopment Agency consists of an independent financial audit report for the previous fiscal year, a fiscal statement for the previous fiscal year, and a report describing the agency's activities affecting housing and displacement. 3. The audit issued by Maze and Associates, attached hereto as Exhibit A, gives an unqualified opinion of the Redevelopment Agency's financial activities includes the auditor's opinion of the agency's operations and financial position, and the agency's compliance with laws, regulations and administrative requirements governing activities of the agency, including all financial activities involving low- and moderate -income housing funds. 4. The Annual Report of Financial Transactions of Community Redevelopment Agencies, attached hereto as Exhibit B, consists of forms provided by the State Department of Housing and Community Development and the completed forms describe the Agency's activities affecting housing and displacement. 5. Approval of the 1997-98 Annual Report for the Los Gatos Redevelopment Agency does not constitute a project for purposes of the California Environmental Quality Act ("CEQA"). RESOLVED, that the Town Council hereby approves and adopts the 1997-98 Annual Report for the Los Gatos Redevelopment Agency, attached hereto as Exhibits A and B. FURTHER RESOLVED, that the Town Council determines the planning and administrative expenses from the Low and Moderate Income Housing Fund are necessary for the production, improvement, or preservation of low- and moderate- income housing. PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Los Gatos, California, held on the 21 stday of December, 1998 by the following vote: COUNCIL MEMBERS: AYES: Randy Reedy, Steven Blanton, Linda Lubeck, Joe Pirzynski, Mayor Jan Hutchins NAYS: None ABSENT: None ABSTAIN: None SIGNED: /s/ Jan Hutchins MAYOR OF THE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA ATTEST: /s/ Marian V. Cosgrove CLERK OF THE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA REDEVELOPMENT AGENCY OF THE TOWN OF LOS GATOS COMPONENT UNIT FINANCIAL STATEMENTS FOR THE YEARS ENDED JUNE 30, 1998 AND 1997 EXHIBIT A REDEVELOPMENT AGENCY OF THE TOWN OF LOS GATOS Component Unit Financial Statements For The Years Ended June 30,1998 and 1997 TABLE OF CONTENTS Page Independent Auditor's Report 1 Component Unit Financial Statements: Combining Balance Sheet - All Fund Types and Account Groups 2 Combining Statements of Revenues, Expenditures and Changes in Fund Balances - All Governmental Fund Types 3 Combining Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual 4 Notes to Component Unit Financial Statements 6 Compliance Report of Certified Public Accountants on Management's Assertions 9 Compliance Report of Certified Public Accountants 11 1 MAZE & ASSOCIATES ACCOUNTANCY CORPORATION 1670 Riviera Avenue - Suite 100 Walnut Creek, California 94596 (925) 930-0902 • FAX 930-0135 INDEPENDENT AUDITOR'S REPORT To the Governing Board of the Redevelopment Agency of the Town of Los Gatos We have audited the accompanying financial statements of the Redevelopment Agency of the Town of Los Gatos, a component unit of the Town of Los Gatos, as of and for the years ended June 30, 1998 and 1997 as listed in the table of contents. These component unit financial statements are the responsibility of the Agency's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance as to whether the financial statements are free of material misstatement. An audit includes examining on a test basis evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. As discussed in Note 1, the component unit financial statements present only the Agency and are not intended to present fairly the financial position and results of operations of the Town of Los Gatos in conformity with generally accepted accounting principles. In our opinion, the component unit financial statements referred to above present fairly in all material respects the financial position of the Redevelopment Agency of the Town of Los Gatos as of June 30, 1998 and 1997 and the results of operations for the years then ended, in conformity with generally accepted accounting principles. 7727e- el- aa--fa-de-c-(--cz- October 8, 1998 A Professional Corporation REDEVELOPMENT AGENCY OF THE TOWN OF LOS GATOS COMBINING BALANCE SHEETS ALL FUND TYPES AND ACCOUNT GROUPS JUNE 30, 1998 WITH COMPARATIVE AMOUNTS FOR NNE 30, 1997 TOTALS (Memorandum Only) Housing Redevelopment Set Aside 1998 1997 ASSETS Cash and investments (Note 2) $1,161,153 $585,761 $1,746,914 $981,868 Intergovernmental receivable 1,577 394 1,971 91,229 Total Assets $1,162,730 $586,155 $1,748,885 $1,073,097 LIABILITIES Accounts payable $24,531 $7,721 $32,252 $4,906 Accrued payroll 200 140 340 7,070 Due to other funds 13,014 Due to other governments 384,159 384,159 263,879 Pass through obligations 531,379 531,379 356,344 Advance from Town of Los Gatos (Note 3) 200,000 200,000 0,�00 200,000 Total Liabilities 1,140,269 7,861 1,148,130 -__ 845,213 FUND EQUITY Fund balances: Reserved for : Low income housing 578,294 578,294 353,619 Encumbrances 17,067 17,067 13,191 Unreserved, undesignated (deficit) 5,394 5,394 (138,926) Total Fund Equity 22,461 578,294 600,755 227,884 Total Liabilities and Fund Equity $1,162,730 $586.155 $1,748,885 $1,073,097 See accompanying notes to component unit financial statements REDEVELOPMENT AGENCY OF THE TOWN OF LOS GATOS COMBINING STATEMENTS OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL GOVERNMENTAL FUND TYPES FOR THE FISCAL YEAR ENDED JUNE 30, 1998 WITH COMPARATIVE AMOUNTS FOR THE FISCAL YEAR ENDED JUNE 30, 1997 Redevelopment TOTALS (Memorandum Only) Housing Set Aside 1998 1997 REVENUES Incremental property taxes $1,132,807 $226,561 $1,359,368 $948,014 Interest 48,800 26,930 75,730 40,517 Total Revenues 1,181,607 253,491 1,435,098 988,531 EXPENDITURES Capital outlay Project costs 513,214 28,816 542,030 462,184 Pass through payments 248,201 248,201 176,570 Principal - Debt service (Note 4) 103,275 103,275 90,000 Interest (Notes 3 and 4) 168,719 168,719 181,303 Total Expenditures 1,033,409 28,816 1,062,225 910,057 EXCESS OF REVENUES OVER EXPENDITURES 148,198 224,675 372,873 78,474 OTHER FINANCING (USES) Operating transfers (out) (634) EXCESS OF REVENUES OVER EXPENDITURES AND OTHER FINANCING USES 148,198 224,675 372,873 77,840 Fund balances (deficit) at beginning of year Fund balance at end of year (125,737) 353,619 227,882 150,042 $22,461 $578,294 $600,755 $227,882 See accompanying notes to financial statements 3 REVENUES Incremental property taxes Interest Total Revenues EXPENDITURES Capital outlay: Project costs Pass through payments Debt service - principal Debt service - interest Total Expenditures REDEVELOPMENT AGENCY OF THE TOWN OF LOS GATOS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES CAPITAL PROJECTS FUNDS BUDGET AND ACTUAL FOR THE YEAR ENDED JUNE 30, 1998 REDEVELOPMENT HOUSING SET ASIDE Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) $825,590 $1,132,807 $307,217 $165,120 $226,561 $61,441 5,000 48,800 43,800 10,000 26,930 16,930 830,590 1,181,607 351,017 175,120 253,491 78,371 584,781 513,214 71,567 57,520 28,816 28,704 204,099 248,201 (44,102) 100,000 103,275 (3,275) 196,030 168,719 27,311 1,084,910 1,033,409 51,501 57,520 28,816 28,704 EXCESS (DEFICIENCY) OF REVENUES r OVER EXPENDITURES ($254,320) 148,198 $402,518 $117,600 224,675 $107,075 L Fund balances (deficit) at beginning of year Fund balances at end of year (125,737) 353,619 S22,461 $578.294 See accompanying notes to component unit financial statements r i r IT 4 TOTALS Variance Favorable Budget Actual (Unfavorable) $990,710 $1,359,368 $368,658 15,000 75,730 60,730 1,005,710 1,435,098 429,388 642,301 542,030 100,271 204,099 248,201 (44,102) 100,000 103,275 (3,275) 196,030 168,719 27,311 1,142,430 1,062,225 80,205 ($136,720) 372,873 $509,593 227,882 $600,755 5 REDEVELOPMENT AGENCY OF THE TOWN OF LOS GATOS Notes To Component Unit Financial Statements NOTE 1- SIGNIFICANT ACCOUNTING POLICIES A. Description of the Redevelopment Agency and Redevelopment Plan - The Redevelopment Agency of the Town of Los Gatos (the Agency) was created on December 4, 1989 under the provisions of the Redevelopment Law (California Health and Safety Code), for clearance and rehabilitation of areas determined to be in a declining condition in the Project Area. A Redevelopment Plan was adopted on November 25, 1991 to provide an improved physical, social and economic environment in the Central Los Gatos Redevelopment Project Area. As part of the Redevelopment Plan, the Agency entered into agreements with various taxing authorities which required the Agency to pass through portions of incremental property taxes to each taxing authority. Expenditures for these pass -through agreements amounted to $248,201 for the year ended June 30, 1998. The Agency is authorized to finance the Plan from various sources, including assistance from the Town, the state and federal governments, property tax increments, interest income and the issuance of Agency debt. The Agency is an integral part of the Town of Los Gatos and, accordingly, the accompanying financial statements are included as a component of the general purpose financial statements prepared by the Town. A component unit is a separate governmental unit, agency or nonprofit corporation which, when combined with all other component units, constitutes the reporting entity as defined in the Town's general purpose financial statements. B. Description of Funds - The accounts of the Agency are organized on the basis of funds each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self -balancing accounts which comprise its assets, liabilities, fund equity, revenues and expenditures. The Agency uses a capital projects fund, which is used to account for all resources used in the acquisition and construction of capital facilities and other fixed assets under the Redevelopment Plan. C. Basis of Accounting - refers to when revenues and expenditures are recognized in the accounts and reported in the component unit financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied. Governmental fund types are accounted for using the modified accrual basis of accounting, under which revenues are recognized when received, or accrued when they become available and measurable as net current assets. Expenditures are recognized when the related fund liability is incurred. Revenues susceptible to accrual consist principally of intergovernmental revenues. D. Budgets and Budgetary Accounting - The Agency adopts a budget effective July 1 for the capital projects fund. During the year ended June 30, 1998 the Agency incurred encumbrances which are reported as budgetary expenditures. However, since encumbrances represent commitments on open purchase orders, they are not included as expenditures reported in conformity with generally accepted accounting principles. L C r C 6 i I i i REDEVELOPMENT AGENCY OF THE TOWN OF LOS GATOS Notes To Component Unit Financial Statements NOTE 2 - CASH AND INVESTMENTS Agency cash is included in a Town -wide cash and investment pool. Details of the Town's cash and investment pool are presented in the Town's general purpose financial statements. The Town's investment policy and the California Government Code permit investments in obligations of the U.S. Treasury and its agencies, commercial paper, banker's acceptances, repurchase agreements, certificates of deposit, medium term notes, passbook savings account demand deposits, mutual funds and the State of California Local Agency Investment Fund. Marking Investments to Fair Market Value (GASB 31) In fiscal 1998 the Agency adopted Government Accounting Standards Board Statement 31, which requires that the Agency's investments be carried at fair market value instead of cost. Under GASB 31, the Agency must adjust the carrying value of its investments to reflect their fair market value at each fiscal year end, and it must include the effects of these adjustments in income for that fiscal year. GASB 31 applies to all the Agency's investments, even if they are held to maturity and redeemed at full face value. Since the Agency's policy is to hold all investments to maturity, the fair market value adjustments required by GASB 31 result in accounting gains or losses (called "recognized" gains or losses) which do not reflect actual sales of the investments (called "realized" gains or losses). Thus, recognized gains or losses on an investment purchased at par will now reflect changes in its market value at each succeeding fiscal year end, but these recognized gains or losses will net to zero if the investment is held to maturity. By following the requirements of GASB 31, the Agency is reporting the amount of resources which would actually have been available if it had been required to liquidate all its investments at any fiscal year end. GASB 31 requires the Agency to restate June 30, 1997 fund balances for fair market adjustments, if material. The Agency has determined that the amounts of any such adjustments would not be material. At June 30, 1998 the fair market value of the Agency's investments was $8,117 higher than the carrying value, resulting in a recognized gain for accounting purposes which was not realized in cash. The Agency's portion of this gain has been included in fiscal 1998 income. NOTE 3 - ADVANCE FROM THE TOWN Agency operations have been partially funded by advances from the Town, which bear interest at 10% and are repayable on demand, provided that sufficient tax increment revenue funds are available. These advances are not expected to be repaid in the current fiscal year. For fiscal year ended June 30, 1998 the Agency paid interest in the amount of $20,000. 7 REDEVELOPMENT AGENCY OF THE TOWN OF LOS GATOS Notes To Component Unit Financial Statements NOTE 4 - REIMBURSEMENT AGREEMENT The Town issued Certificates of Participation (COPs) in the original principal amount of $2,960,000 dated August 1, 1992 to finance certain construction costs of the Town's Parking Lot 4 Project, which was constructed on land within the Central Los Gatos Project Area. The COPs are similar to debt; they allow investors to participate in a share of guaranteed payments which are made by the Town. Because they are similar to debt, the present value of the total of the payments to be made by the Town is recorded as long-term debt. Principal payments are due annually on August 1, with interest payments payable semi-annually on February 1 and August 1. The Town has pledged motor vehicle license fee revenues as collateral for the repayment of the Certificates. 8 i"DAZE & i ASSOCIATES ACCOUNTANCY CORPORATION 1670 Riviera Avenue - Suite 100 Walnut Creek, California 94596 (925) 930-0902 • FAX (925) 930-0135 I I COMPLIANCE REPORT OF CERTIFIED PUBLIC ACCOUNTANTS ON MANAGEMENT'S ASSERTIONS ITo the Governing Board of the Redevelopment Agency of the Town of Los Gatos We have examined the Redevelopment Agency of the Town Los Gatos management's assertion, included in its representation letter dated October 8, 1998 that the Agency complied with laws, regulations and administrative requirements of the State of California, based on the criteria set forth in Guidelines For Compliance Audits of Califomia Redevelopment Agencies issued by the State Controller's Office, Division of Local Government Fiscal Affairs, during the fiscal year ended June 30, 1998. As discussed in the I representation letter, Agency management is responsible for the Agency's compliance with those requirements. Our responsibility is to express an opinion on the Agency's management's assertion as to the Agency's compliance based on our examination. Our examination was made in accordance with standards established by the American Institute of Certified Public Accountants and included examining on a test basis evidence as to the Agency's compliance with the I State's requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination of the Agency's compliance with specific requirements. In our opinion, the assertion of Agency management that the Agency has complied with laws, regulations and administrative requirements of Section 33080.1 of the Health and Safety Code of the State of California during the fiscal year ended June 30, 1998 is correct in all material respects, based on the criteria set forth in I the Guidelines for Compliance Audits of California Redevelopment Agencies issued by the State Controller's Office, Division of Local Government Fiscal Affairs. I77y,z_ -V. aa..42-cu--C-4-4-e-^a-- IOctober 8, 1998 I I 9 A Professional Corporation AZE & ASSOCIATES ACCOUNTANCY CORPORATION 1670 Riviera Avenue - Suite 100 Walnut Creek, California 94596 (925) 930-0902 • FAX (925) 930-0135 COMPLIANCE REPORT OF CERI"IFIED PUBLIC ACCOUNTANTS To the Governing Board of the Redevelopment Agency of the Town of Los Gatos Los Gatos, California We have audited the financial statements of the Redevelopment Agency of the Town of Los Gatos as of and for the year ended June 30, 1998, and have issued our opinion thereon dated October 8, 1998. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance as to whether the financial statements are free of material misstatements. Compliance with laws and regulations applicable to the Agency is the responsibility of management. As part of obtaining reasonable assurance as to whether the financial statements are free of material misstatement, we performed tests of the Agency's compliance with provisions of laws and regulations contained in the Guidelines For Compliance Audits of California Redevelopment Agencies issued by the State Controller's Office, Division of Local Government Fiscal Affairs. The results of our tests indicated that with respect to the items tested the Agency complied in all material respects with the provisions referred to on the preceding paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Agency had not complied in all material respects with those provisions. 7'747-e-- a,,,,..._.9- October 8, 1998 11 A Professional Corporation EQUITY, END OF PERIOD UST EQUAL PAGE 04, LINE 39) OTHER - (EXPLAIN) e m ADJUSTMENTS: PRIOR PERIOD ADJUSTMENTS EQUITY, BEGINNING OF PERIOD TOTAL - OTHER FINANCING SOURCESUSES EXCESS (DEFICIENCY) OF REVENUES 1 OTHER FINANCING SOURCES OVER EXPENDITURES & OTHER FINANCING USES INE 31 + LINE R OPERATING TRANSFERS OUT TAX INCREMENT T TRANSFERS OUT (TO LOW & MOD HOUSING FUND) TAX INCREMENT TRANSFERS IN (LOW & MOD HOUSMG FUND) OPERATING TRANSFERS IN g n n SALE OF FIXED ASSETS ADVANCES FROM CITY/COUNTY PAYMENT TO REFUNDED BOND ESCROW AGENT No R N o 6 EXCESS (DEFICIENCY) REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) PROCEEDS OF LONG-TERM DEBT EXPENDITURES (coNT) In LA O O .A .O , O A 00 O A v O A Cr. O A to O ';: ;•:; ' A A :, O A w -� A W O A N -- A N O A :- A •-- O A O O W ,O N W sD .-- I...1 sO O a; w 22,461 $ (125,737) CO f--g lip $ 148,198 jI CAPITAL PROJECTS FUNDS W n, ham' i•: co v.fA k N ..•. — • . �}11 i::*:',:iii i - iK: N DEBT SERVICE FUNDS 578,294N. WZ;3 W C N s 224,675 hn i, £ hin ,' ..}�+4 ; 0: �.. N 1A 4.1 ' ^ V 1 LOW/MODERATE INCOME HOUSING *FUNDS # 4 is k i:: a: SPECIAL REVENUE/OTHER FUNDS • S 600,755 (..1 N..) 372,873 S S 372,873 .. TOTAL MI CO ANN ADNI9V 4J tTI INCOME STATEMENT - CONSOLIDATED * TOTAL EXPENDITURES U. S., STATE, & OTHER LONG-TERM DEBT CITY/COUNTY ADVANCES & LOANS �y O h� „ PO co Y d C z pPr > fA DEBT PRINCIPAL PAYMENTS: TAX ALLOCATION BONDS & NOTES OTHER EXPENDITURES INCLUDING PASS THROUGH PAYMENT(S) SUBSIDIES TO LOW & TDERATE INCOME HOUSING DEBT ISSUANCE COSTS FIXED ASSET ACQUISTRONS INTEREST EXPENSE REHABILITATION GRANTS P z z>r> p D o,< xi Ay o hi LOSS ON DISPOSITION OF LAND HELD FOR RESALE DISPOSAL COSTS PROJECT IMPROVEMENT/ CONSTRUCTION COSTS • :LOCATION PAYMENTS SITE CLEARANCE COSTS RELOCATION COSTS OPERATION OF ACQUIRED PROPERTY ACQUISITION EXPENSE SUB -TOTAL (FROM LINE I8) EXPENDITURES (CON T) 37.01s 1,033,409 s s 28,816., s s1,062,225 In order to ensure consistency, the amounts reported in the Low and Moderate Income Housing Fund should form the basis for the data reported to the Department of Housing and Community Development on Schdedules HCD-A and HCD-C tN CT O lJ Vt O W A O co W O W N O co ... W -- O co O O N `O O N 00 O N V O N O, N N 0\ — N ON O N V. O N A O N w O N N O N ,--. O N O O tp b v 474,762 VD VD U7 N �p� g - � CO CAPITAL PROJECTS FUNDS H C A MI O 2 5 tc N CM n 28,816 LOW/MODERATE INCOME HOUSING FUNDS --ni 1 H SPECIAL REVENUE/OTHER FUNDS 474,762 - tO - 0' lO U1 N - r-' VD A g s 123,774 1 TOTAL CO 11,1IVN ADN39V U1 EXPENDITURES SUB -TOTAL (CARRY TO LINE 19) REAL ESTATE PURCHASES PLANNING, SURVEY do DESIGN PROFESSIONAL SERVICES TOTAL REVENUES EXPENDITURES ADMINISTRATION COSTS OTHER REVENUES BOND ADMINISTRATIVE FEES GRANTS FROM OTHER AGENCIES FEDERAL GRANTS GAIN ON LAND HELD FOR RESALE SALE OF REAL ESTATE LEASE INCOME RENTAL INCOME 3 n x m TRANSIENT OCCUPANCY TAX SALES Q USE TAX PROPERTY ASSESSMENTS SPECIAL SUPPLEMENTAL SUBVENTION TAX INCREMENT - GROSS (INCLUDE ALL APPORTIONMENTS) REVENUES a 00 �Or .4 0 T O LA O A O K; W .0G N O O O \O O 00 - 00 O -J C a C IN O .. . b W b N O Nf A co 27,408 1,181,607 �. 67 550 48,800 '4 Lc) N CO CAPITAL PROJECTS FUNDS N H i•£: k in DEBT SERVICE FUNDS F• \•'' ry4. ¢y? 28,816 0) 44 N (3) H4 ..) N w CO O 't: 253 , 491 ,, N Dl CO (Al 0 s 226,561 LOW/MODERATE INCOME HOUSING *FUNDS — n in# • "VV ^tt tiY •i>Ci { : ` +` : (A SPECIAL REVENUE/OTHER FUNDS H NJ U.)l0 A 33,834 LAo-x OA l?y s. :F cl'a' 4 N . Ul W 75,730 N . W lfj . TOTAL K7 0 m � 3 rAt § 1D 0 W z O aco 7a C/1 TOTAL LIABILITIES OTHER CREDITS & EQUITIES TOTAL EQUITIES (MUST EQUAL PAGE 05, LME S1) FUND BALANCE UNRESERVED-UNDESIGNATED FUND BALANCE UNRESERVED -DESIGNATED FUND BALANCE RESERVED g • TOTAL LIABILITIES & OTHER CREDITS OTHER LONG-TERM DEBT Q TAX ALLOCATION BONDS PAYABLE DUE TO SPECIAL REVENUE/OTHER FUNDS DUE TO LOW/MODERATE INCOME HOUSING FUND DUE TO DEBT SERVICE FUND ' - 'NS PAYABLE OTHER LIABILITIES TAX ANTICIPATION NOTES PAYABLE INTEREST PAYABLE ACCOUNTS PAYABLE LIABILITIES & OTHER CREDITS A W W (.J W WJ1L V O C G O O O O O O O O N 1--Y / 49 Vf ,}v::w } 444.4 t r, £. h? .: . {}•' ij { ' % �?' , £.i }+ir1?, • .�ir� i'}ii; S 1 1.4027P " !Ni:::.:,.?" { rOj 3%{• 2,: �p S 646,267 CAPITAL PROJECTS FUNDS t bfi (A (A ry.Y:.:.:.. : tii:: by YY.:.`^:t 6H ;i ., u $,fir k\� is 4•+' ... }Y'Y i4 •.G�`t n{S:}:::. '::4::Y:r^j fir.. {C' •f;. Y >< } •:.v:J::: 69 DEBT SERVICE FUNDS CC 586,155 , 6A 578,294 r�am�t. 4 r tr:Try;:, i7t;CO bA CP LOW/MODERATE INCOME HOUSING FUNDS ';' a,?. ,f%•: \±•}: 6A 69 6A ,• j: T w,' K+•s''r k.w Yjj:�Cc4:= 6/5 (A SPECIAL REVENUE/OTHER FUNDS .L::: {{:{" �,.} `'iy'i 'p' .y} �`.•}•'%'gyR',:,b{}`.'k k £ 1 •::hb.}:kh•3Yk.ki t :,{4?ri' r •':j;{:j y'+t` ;.N{ •Tif. ¢ ••rt,``{;}5:;,`r: �\+: ti% ' :ti jc, ji• ti vYr. • ,- ,{•� wp C j . ;3at' i �' ia'.•. 4C^.i.+:,-.,v. %k:'{ ^tvi•\ IP iu. i\iE t i:'2•'} C . n� 'Y' S '4£'rn-i.•:.:%kC'r 'h\ .tir. n • . :fi• 4�^C ':^.f{'. :t :?'}• ' � r: {n:h`: +}:i,'4.v}l,.i. `.:'(�?±%%%''r \�: }' �\:i�.�i.•y•+,�•ry,.-�•'rj: 4;'a.i °} � �{ t,;,ti',•.}.{.k},S i. y - � ', �� .{.£%{. }• , t 4+n v.0 4yl%,J\'•:vj f.• >4 ; ' • `�": '^••.:y: i Y i 4v ii; •"4. v N.• ,{ � ki• S� �i:2J {x '• ?Y'4:4'. a•-.:o- VI ;.�.,:} . `:fEY`::E :;{{•% :A?:Y•.J:± .% \Y+f.-:J J.� '�' •;i: „Y.V,.. y.i: ... ti;ln`{ yti''{'''}� ikk{t:c '}f{{.tp.; i:;b:, ` k, {"^ ,�i•:' . ..:}.�•}�+'.r:1?i�: , Y.:: .}•rCy:.:..: r }t•�: .y.'�. ;;,;,;: S3Ff,+ •:,{{p,,�;:;jr+�� #j•}}. 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GENERAL FIXED ASSETS '�i �:' 1-, co,.;J+.k EA 600,755 Via•• •.•2: _:£ Uzi .' p.d F. W O O 200,000 405 . N TOTAL (MEMORANDUM ONLY) AMOUNT AVAILABLE IN DEBT SERVICE FUND AMOUNT TO BE PROVIDED FOR PAYMENT OF LONG-TERM DEBT TOTAL ASSETS & OTHER DEBITS (MUSTEQUALPAGEO4, LINE 40 ACCT.. 17,2! t IRFV 7/041 . FDCED ASSETS: LAND, STRUCTURES & IMPROVEMENTS ALLOWANCE FOR DECLINE IN VALUE OF LAND HELD FOR RESALE 6 1 I 1 DUE FROM DEBT SERVICE FUND DUE FROM CAPITAL PROJECTS FUND LEASE PAYMENTS RECEIVABLE CONTRACTS RECEIVABLE ACCIP'rcD INTEREST RE: 3LE LOANS RECEIVABLE ACCOUNTS RECEIVABLE TAX INCREMENTS RECEIVABLE CASH & IMPREST CASH CASH WITH FISCAL AGENT ASSETS & OTHER DEBITS N.) WIVE — s-, '.....i...::.:::, ....,0,1:::•:: ;A i— CAPITAL PROJECTS FUNDS .,-:, ::„:„., ,, ..v, ,.,,,q.::: fl'..:, * . ,,,.., % : ,:, . , , .4. '•:::.,': • ••: iiiiii 1-, ul --I CO - i-A cn I-, ,-, (..n Ch.) < xlso.v.:g .< .1t* x,<•.<4„,• i., ::•e..T. . '`,' . Pr• DEBT SERVICE FUNDS ,•:•••.•< . 4 •4'$' 111111111 ›... / ..." :i. :. ..-4 a '• ••": • • < •c :: .;•.: , , t«.• .....:: ••.,.... •••• :,:. • • • ; .:. • . • :::. • .. •'•x•K 4 • x:,.'• :...:. ::.% .. • : '... ' • P. '''':i4: $ 585,761 LOW/MODERATE INCOME HOUSING FUNDS Ln • : :: co Cri ..?,E• 4:E'.. •eur. P ••:; 1—! • • ••••:::,.9.: '4% Lo..) c..r; ::••.•.,...i,%?a:: .i..,:•::„..:.. ul %•••••-• - ,::•::.:0• • g :,,,: •i!i'!?:•• '," ?:i,\':k i . Kk.!::•.: , :!:::::;:V 0 •J•;?<'.:: ....,..:„,..:, P;ME? ....:::,•:,:.: io) ie) SPECIAL REVENUE/OTHER FUNDS N:::::::.:.:::*: s•.::,....•:.:- :„.........::::::,...f.*::::K:::•4:*:.$ .... GENERAL LONG-TERM DEBT ' 'OS. w...;,...i..,;..•%•• . ..... • -. , 4 :• . .. • :',.\ z:: .v. AI. 4 - ,•%"5.,..,„ :•,- .., ko- ,• - .:,,• ' :.••w ., .. ,,, •••...,, , • ks::„:4 •:::%<,,,T...• ik. < „•-, • ii:* g• • . •::::. k *ii <4; :. ' k•A•• .,. . ::.: • . :K. • . • :*4: ':•::z <"'• <•••• ' ' . . . i• • • " • .A .,........,•.# .::::::•:::::•::::.: "'•-t*: • • • ' . •• y • -•:.. • ••••-•:, • „ .' •••,..,:-: •-•:- ...:- ..,. •.. • • P ': '$: . .3.1.,..,•*. , P.., - ii •''' . ..,•• ••,_ • ,... : •• "-, • .,-,.,... - • .... ...• iii;:ii:'' S. ....ii.i..:!,<: 4.: ... b.; : . :, • • • 0 ;,; , • :::, . • ::::Q:cf• . ,.. • • . E- .• • ••• • •.. k A . " !. • z•.% 4 E:', :,.,. •••••••-• a m M . ' ;,.:;.. •C• •MS• • .N.: - Z Li •:: • • • :,,,, -::::::,...: • ,;: •• •\ . •;.•:::. . w: ... •,;..:, ,.• V F <c.• ii• '`:' ....,`, x • 1 . .. • 4•4::4 :.AS.:7$ ? . . . . . ::`,, • 0 b ' ' i•••• TOTAL 111.1,116 • MTV MI nwr .. , 4... ••• .... WO Vi) 4.3 1-4 i i1 (96/L AaII) 08 S21D1-1OOV 0 lIaf]V D3NVI1diIOJ 0 rri rn m 71 113KIIV1JSIQ NOIN1dO IIQf1V HONVTIdWOO 3.LVOIQNII to I n 6 o c a En n z 0 m z o > z o rCa z m a 0 o o r O ill x x rrl a 21H1N1V'1JS1Q 'NOINIdO 11(111V IVIONVNI3 3.LVOIUNI LIIQf1V Hill AO AdOD V .LIW3f1S f1OA QIQ LV1.VQ 1VIONVNI3 Q3.LIQfIV a 0 0 z HJNVIIIINOJ 0 z a cd W A"INO HSfI HIVIS a r, O n co cncn cn 0 y DNIdVDSQNV1= D c 0 y lanters and installation of irri Phase II -"Reconstruction of deteriorated landsca FOR POSSIBLE INCLUSION IN THE PUBLICATION. PLEASE BE SPECIFIC. AS THIS INFORMATION WILL BE THE BASIS TYPES COMPLETED (A-F ONLY) 7 ENTER THE APPROPRIATE CODES TO INDICATE EACH TYPE OF PUBLIC FACILITY COMPLETED THIS YEAR. TOTAL S • UARE FOOTAGE at.,+:3,.;5.t>>:»: :•...' �c$...e a.::.X)ac&ouiF,.ic:.a. ENTER THE NUMBER OF JOBS CREATED FROM THE ACTIVITIES OF THE AGENCY, EITHER OTHER BUILDINGS PUBLIC BUILDINGS INDUSTRIAL BUILDINGS COMMERCIAL BUILDINGS ENTER THE AMOUNT OF SQUARE FOOTAGE COMPLETED THIS YEAR BY BUILDING TYPE AND SEGREGATED BY NEW OR REHABILITATED CONSTRUCTION. NEW CONSTRUCTION SQUARE FOOTAGE COMPLETED F;t . S:�} vy�}ry��$ ;4, \Y }3:y ' V:s}:i ? ^i}' •• JY•N 'x•Y�Of�h:t+I'f",.+M+ti"G+n1SL'.}i`•''�{.'h.'ii}tS}4J: v�• .iv 'J \ .. 1i• .: �•• kiy., �,'W(.'$�. �S:Jtii: 2 y..... <fi ticvti*) RC' .•S' f+Z:Jv REHABILITATED 0 L) m U3IN31IV3A IVDSL1 rD 0 co I 11 (%/L AH3I) 08 S 101-.LDDV SECRETARY PHONE Marian V_ (:ncoornve (140R) 154-6834 FISCAL OFFICER PHONE Michele Braucht (408) 354-6828 AGENCY OFFICIALS EXECUTIVE OFFICER PHONE David W. Knapp (408) 354-6832 K 0T 0 m w ro F4 PI cn W MEMBER Linda Lubeck MEMBER Randy Attaway MEMBER Steven Blanton MEMBERS OF THE GOVERNING BODY CHAIRPERSON MEMBER Jan Hutchins PHONE: (916) 445.5153 FISCAL YEAR ENDED June 30 .19 98 DUE WITHIN SIX MONTHS OF THE AGENCY'S FISCAL YEAR END. MEMBER m m 3 co m m � m co m m m m STATE USE ONLY CLEARED BATCH NO CITY sTA CA E Walnut Creek, 94596 STREET ADDRESS 1670 Riviera Avenue, Suite 100 CONTACT PERSON PHONE• (CONTACT PERSON) (408) 930-0902 FIRM NAME INDEPENDENT AUDITOR Mate & Associates NAME TITLE David W. Knapp Executive Director 17 SIGNATURE OFEXl lI VE.DIRE CI)C, DATE d.A CITY STATE 95031 Los Gatos, STREET ADDRESS 110 E. Main Street REPORT PREPARED (CONTACT PERSON) PHONE -(CONTACT PERSON) BY, SharlineJackson-Ringgold (408)354-6885 n 7 z n 0 CITY STATE ZIP CODE LOCATION: (STREET ADDRESS) (IF DIFFERENT FROM ABOVE) DC REDEVELOPMENT AGENCY (H&S CODE 33100) COMMUNITY DEVELOPMENT COMMISSION < BOARD OF SUPERVISORSr CITY COUNCIL I l OTHER :SS3LIOOV 1IVN1 ssaNdX9 r 0 6) -+ 0 cn 0 th 0 N n 0 6176 XOG 'O 'd ;I 0v411. Z M (C °� W o o °o rn z D .4 O > • rn z 0 0 11 —a rn eipTD plow A1.NOOD DIVISION OF ACCOUNTING AND REPORTING ATNO 3SfQ aLViS O r cfl ri INCOME STATEMENT - CONSOLIDATED 0 0 8 AGENCY NAME co cr1 0 i TOTAL s 372,873 111 ,��Y ti. t knOMBEISSMEN 372,873 s s 227,882 600,755 SPECIAL REVENUE/OTHER FUNDS $} am: l ., : { ,}: vi^.`}.$' tty .#:ham H U LOW/MODERATE INCOME HOUSING _+ FUNDS s 224,675 :ri:}`: ri li::•6,* .v,.i}n v..M-.vvn Y.v .nl•:,+.:'{: }i;:L.i •'Env: x ..:.f . >........:: • r.{v-.y,L.r.. s 224,675 s 353,619 ::..• :; •ti ..: / t+4:; Tr co ... H IAt of DEBT SERVICE FUNDS :: **.A^ i::^,:: .-. ^ FEt 4 it '}# : i i::: ••i:`Sv ice£ ;:b CAPITAL PROJECTS FUNDS 148,198 • $ 148,198 '•.:' #:E4r Cr) l0 Ln N :: k f%: •:.try?:^i.. N N EXPENDITURES (corn) 0 .; 0 .-• N O 0 .--• 0 •--. 0 — O E, 0 0 0 0 0 CD OO 5;ft:.,+.:: %O Q. O. . O N N M M V i:: k vi ..a [+ oo ' O+ O .-. M ::•{y M ri M 7 V V '7 V C tY 'Cr :y: V 'ct V V ./1 V. EXCESS (DEFICIENCY) REVENUES OVER (UNDER) EXPENDITURES x x{:4rivr%-} ;%i; {f.{: 4{'y.... �n.iS:tj•}}Y;}J' W`ti }i _yu:}}:;p{...,i +.vid\i s C ;cb2 .c ::;~~ i ::o-:}.a w 4 ?}C { F °: :a fi.4 v3. a,a�'.V{'f;+co,. %: OTHER FINANCING SOURCES (USES) PROCEEDS OF LONG-TERM DEBT PROCEEDS OF REFUNDING BONDS PAYMENT TO REFUNDED BOND ESCROW AGENT ADVANCES FROM CITY/COUNTY SALE OF FIXED ASSETS MISCELLANEOUS FINANCING SOURCES (USES) OPERATING TRANSFERS IN TAX INCREMENT TRANSFERS IN (LOW & MOD HOUSING FUND) OPERATING TRANSFERS OUT TAX INCREMENT TRANSFERS OUT (TO LOW & MOD HOUSING FUND) TOTAL - OTHER FINANCING SOURCES (USES1 _1}::}:w};y}:3:t:xkRdva'9i%%FSiiir:'}:r:{,;:•:'':S:•':,:':::;::i:;::{:::'a'':i'•-{ EXCESS (DEFICIENCY? OF REVENUES & OTHER FINANCING SOURCES OVER EXPENDITURES & OTHER FINANCING USES (LINE 38 + LINE 44) EQUITY, BEGINNING OF PERIOD ADJUSTMENTS: PRIOR PERIOD ADJUSTMENTS RESIDUAL EQUITY TRANSFERS OTHER -(EXPLAIN) EQUITY, END OF PERIOD (MUST EQUAL PAGE 04, LINE 39) C7 a Wr I-. 7.4 U W C� Q ▪ co r z U E■ 0 U z TOTAL s 123,774 V 0.1 Cr) — b N in CT 1 C r-I 474,762 S1,O62,225 IC_O_ SPECIAL REVENUFJOTHER FUNDS H V1 V LOW/MODERATE INCOME HOUSING *FUNDS 28,816 Qg CO CO N m m i.. U G G> z.W PC :., C � 4 H V1 Q CAPITAL PROJECTS FUNDS 00 n �0 CT •Cr C.1 V2. c 0) N N rn 01 r- i 474,762 0 M 0 rl V1 EXPENDITURES (coNT) O+ Y O N O N O N N O M N O V N O V'i N O �O N ---- sD N N �4 N O [- N O oo N O Q, N O O M O M M O N M O M M O M O h M O 'O M O n M SUB -TOTAL (FROM LINE 18) ACQUISITION EXPENSE OPERATION OF ACQUIRED PROPERTY RELOCATION COSTS RELOCATION PAYMENTS SITE CLEARANCE COSTS PROJECT IMPROVEMENT/ CONSTRUCTION COSTS • DISPOSAL COSTS LOSS ON DISPOSITION OF LAND HELD FOR RESALE DECLINE IN VALUE OF LAND HELD FOR RESALE REHABILITATION COSTS REHABILITATION GRANTS INTEREST EXPENSE FIXED ASSET ACQUISITIONS SUBSIDIES TO LOW & MODERATE INCOME HOUSING DEBT ISSUANCE COSTS OTHER EXPENDITURES INCLUDING PASS THROUGH PAYMENT(S) DEBT PRINCIPAL PAYMENTS: TAX ALLOCATION BONDS & NOTES REVENUE BONDS & CERTIFICATES OF PARTICIPATION _ CITY/COUNTY ADVANCES & LOANS U. S., STATE, & OTHER LONG-TERM DEBT TOTAL EXPENDITURES 4c ACCT- LGRS 80 (REV 7/96) in a FISCAL YEAR ENDED TOTAL CO 0) 1/1 V) 75,730 OJ CA TI"f{ :y i 4 4:: •.4 V) 33,834 'Cr _ N Cfl � tH A SPECIAL REVENUE/OTHER FUNDS r r:•r::t•:r:4 : ?:rxt:` :; S:• t: % c: :..c•:::.t It LOW/MODERATE INCOME HOUSING *FUNDS tO N NN . N ♦ in . N . - . N 0[0_ DEBT SERVICE FUNDS VI '•' v�,i:4ti :°c?o:o:•x : c •- ,r rli: 4 •{ •.h: t r.{: i }::i'i:i=' c?: }a:?; v) to H._ CAPITAL PROJECTS FUNDS 4 ". Cl 1—i 48,800 _ 1� 4 - 1^ W r-, 0 in ,^ Y N^ vt" 27,408 $ 94,958 REVENUES O — O N C M O '7 .-• 4 O v1 O %Li. O t— O 00 .— 00 O cr: O O O O N O M 2 :::j `? ::;::.: O O sr;t— O CD 00 TAX INCREMENT - GROSS (INCLUDE ALL APPORTIONMENTS) SPECIAL SUPPLEMENTAL, SUBVENTION PROPERTY ASSESSMENTS SALES & USE TAX TRANSIENT OCCUPANCY TAX INTEREST INCOME RENTAL INCOME LEASE INCOME SALE OF REAL ESTATE GAIN ON LAND HELD FOR RESALE FEDERAL GRANTS GRANTS FROM OTHER AGENCIES BOND ADMINISTRATIVE FEES OTHER REVENUES TOTAL REVENUES c>x; ra>i3Stitirre:%tax:^z:,C4rb-atcri> rric•:a�+r:^r:::a<>:a r EXPENDITURES ADMINISTRATION COSTS PROFESSIONAL SERVICES PLANNING, SURVEY & DESIGN REAL ESTATE PURCHASES EXPENDITURES SUB -TOTAL (CARRY TO LINE 19) it ACCT• LGRS B0 (REV 7/96) 6 z w col L TOTAL AMITIJ(141•1•Ti NUT Yi 41. 3 al 1 4 ,-1 6e N r-- CI r—I X cc cC CC ItT.j. III Z 0 ,--• f.::::, :::•.. •r• ,' 0, ...ior •.0. r ....!:i :::: • :.:.: . rrrrl :,....„, ... • • : rr• • : :r: 603 41.1 V cli; Z 0 ...1 : ,••• •••Y ::•:c* sr.\ r4• ...... 'r i• i 1.1mr,t4...................,..1.44.0tr.m...„../.....,...7,,.....,.................. :,....:: •.4: : ....:;.... , 14 ..., »...... ... 6.Z.:, • :-,< .. 1: .44 rl ...r•yr f•': 4: . • SPECIAL REVENUE/OTHER FUNDS LOW/MODERATE INCOME HOUSING FUNDS i r-14. r% ... in co un 394 S 586,155 N DEBT SERVICE FUNDS A, e.: .... CAPITAL PROJECTS FUNDS $ 1,161,153 i co r-- Lr) ,—) P.,. TOTAL ASSETS & OTHER DEBITS (VIUST EQUAL PAGE 04, LINE 40) 121.0 $ 1,162,731 TN ACCT- LGRS 80 (REV 7/96) ASSETS & OTHER DEBITS © esi cz. (..-; c, 6 c? — © — c> c, c, c, (-4 CASH & TINPREST CASH CASH WITH FISCAL AGENT TAX INCREMENTS RECEIVABLE ACCOUNTS RECEIVABLE i Vg DJ LOANS RECEIVABLE CONTRACTS RECEIVABLE LEASE PAYMENTS RECEIVABLE UNEARNED FINANCE CHARGE DUE FROM CAPITAL PROJECTS FUND DUE FROM DEBT SERVICE FUND DUE FROM LOW/MODERATE INCOME HOUSING FUND DUE FROM SPECIAL REVENUFJOTHER FUNDS 1 OTHER ASSETS INVESTMENT -LAND HELD FOR RESALE ALLOWANCE FOR DECLINE IN VALUE OF LAND HELD FOR RESALE FIXED ASSETS: LAND, STRUCTURES & IMF'ROVEMENTS N CY AMOUNT AVAILABLE IN DEBT SERVICE FUND AMOUNT TO BE PROVIDED FOR PAYMENT OF LONG-TERM DEBT 0.4 DID YOU SUBMIT A COPY OF THE AUDIT? INDICATE FINANCIAL DISCLAIMER UNQUALIFIED iC < U W AUDIT OPINION. WAS A COMPLIANCE AUDIT PERFORMED IN ACCORDANCE WITH HEALTH & SAFETY CODE SECTION 33080.1 AND THE STATE CONTROLLER'S GUIDELINES FOR COMPLIANCE AUDITS? w 0 ANCE AUDIT OPINION IV. INDICATE COMP NO EXCEPTIONS w rz a c7 U WITH EXCEPTIONS DISCLAIMER 0 0 U 0 W w COMPLIANCE AUDIT ACCT-LGRS 80 (REV 7/96) (UNAUDITED) co O 5 FISCAL YEAR ENDED SQUARE FOOTAGE COMPLETED F ; ;n fClj::�vtiC:j:?:Cv'•:t;i: i6}hrH..:4}.}.?i•'+'t:}•::<:�)}tA.: :•i:'%+:y`L: i•<:o tr 7.�•,y•w'r'ff•:":b .'% tfn:. ls {:}t}:;?:;.^}+'f.•riS:b:'4ki•}$}Q$i •:4:?:ti i$: :2?7 'c}.�}''.:Fr': i }3:?•.?}�:•"•:. {;�,t.•'.i:::ti.# :ti v{ti } ;•v:t:: ti 4::::: 4i :.}�.tv :}::.;y.: }. ;{ ;.+•:; •:•:i::iiiQ}{i4J• }+. `4/•'r:::•:s :i;:.::•...: •`?�i°.•�S'�A{y'<: vS'Sr,x<:: ?. $:•'t`•.. i Y•{{`y^:rS, }4�' f: S' • } Y±?+7 C•+'Y isv,{•:;>fYl :: .i t; J: •}•Y.•�?;i:* .: k;w{:� fr ;;+i't;r titij'{ }]C?.... +�:: 'Y6Ch ti AEra :}',{S{�•t}.. ..•:::fipp}K cj:^],C.•.{Yv,'' {• .'f K: NEW CONSTRUCTION ti75' N•.' •V^v Qf«}%s Yi�:: • -..0 .iA ENTER THE AMOUNT OF SQUARE FOOTAGE COMPLETED THIS YEAR BY BUILDING TYPE AND SEGREGATED BY NEW OR REHABILITATED CONSTRUCTION. .--, N en cr i ENTER THE NUMBER OF JOBS CREATED FROM THE ACTIVITIES OF THE AGENCY, EITHER ACTUAL OR ESTIMATED. 6 ENTER THE APPROPRIATE CODES TO INDICATE EACH TYPE OF PUBLIC FACILITY COMPLETED THIS YEAR. TYPES COMPLETED (A-F ONLY) 7 COMMERCIAL BUILDINGS INDUSTRIAL BUILDINGS PUBLIC BUILDINGS OTHER BUILDINGS TOTAL SQUARE FOOTAGE AS NEEDED. FOR POSSIBLE INCLUSION IN THE PUBLICATION. tion of deteriorated landsca C = LANDSCAPING A = UTILITIES 0 E- A z 0 E- OC ACCT-LGRS 80 (REV 7/96) STATE USE ONLY COUNTY Santa Clara Al w 0 0 N w 2 H u_ 0 >- LLJ Z a0 co Q rn w0 ocLTri 0 O• -J0)0 O Mw00< a)WZ03 "Zr 0 u) M w O 0 I—dJ P. O. BOX 942850 SACRAMENTO, CA 94250 EXPRESS MAIL ADDRES ET, SUITE 700 y n M NTO, CA 95816 0 h PHONE: (916) 445-5153 w 0 0 0 a a 0 0 O p4 0 DUE WITHIN SIX MONTHS OF THE AGENCY'S FISCAL YEAR END. 0 0 u 1 2 0 U 0 0 0 z w a� I 0 Lin a co oto �b�yy0 L to F !lpll oz 0 RI 0 wce .p c▪ ad r[z O Ftio c. LEI CL m 0 0 0 m i 2 m i i w z a m 2 i Q z rt w m 5 w 5 0 0 0 w 0 ¢ 0 F z Z 0 0 N • r" v0 cC I I L L r1 c"1 00 0 0 dd rl Id cd a 0 w w N z d r0-1 N LT. 3 • w y yo 0 0 .� m w r"a t°Gi1 a ' . d . a 'L� a > '.4 0 . • cpd m 10j al p p m Q 0 •co rl S_ 41 V] alP4 wr7 ?17 XA ,Y,z •o 5 2 2 2 w u. SECRETARY cu 40 0 H A ACCT-LGRS 80 (REV 7/96) Town Council Minutes December 21, 1998 Redevelopment Agency Los Gatos, California ' TOWN'S DEFERRED COMPENSATION PLAN/RESOLUTION 1998-203 (08B.14) TERMINATION OF SERVICES PROVIDED BY WASHINGTON MUTUAL BANK Motion by Mr. Blanton, seconded by Mrs. Lubeck, that Council adopt Resolution 1998-203 entitled, RESOLUTION OF THE TOWN OF LOS GATOS AUTHORIZING THE TOWN MANAGER TO TERMINATE. AS SOON AS PRACTICAL IN 1999. THE DEFERRED COMPENSATION ADMINISTRATION AGREEMENT WITH WASHINGTON MUTUAL BANK, Carried unanimously. SPECIAL EVENTS LIABILITY INSURANCE/RESOLUTION 1998-204 (09.14) Motion by Mr. Blanton, seconded by Mrs. Lubeck, that Council adopt Resolution 1998-204 entitled, RESOLUTION OF THE TOWN OF LOS GATOS AUTHORIZING THE TOWN MANAGER TO EXECUTE AN APPLICATION WITH ROBERT F. DRIVER CO., INC. TO PROVIDE SPECIAL EVENTS LIABILITY INSURANCE, Carried unanimously. JOINT TOWN COUNCIL/REDEVELOPMENT AGENCY ACTION LOS GATOS REDEVELOPMENT AGENCY ANNUAL REPORT/RE§OLUTION 1998-205 (10.49) Motion by Mr. Blanton, seconded by Mrs. Lubeck, that Council adopt Resolution 1998-205 entitled, RESOLUTION OF THE TOWN OF LOS GATOS APPROVING THE 1997-98 ANNUAL REPORT FOR THE LOS GATOS REDEVELOPMENT AGENCY, Carried unanimously. MINUTES OF JOINT STUDY MEETING/MOBILE HOME PARK/DECEMBER 7, 1998 (11.V) Motion by Mr. Blanton, seconded by Mrs. Lubeck, that Council approve the Minutes as submitted of Special Called Meeting to discuss Mobile Home Park Conversions held on December 7, 1998. Carried unanimously. HEARINGS MOBILE HOME PARK CONVERSION/APPLICATION FINDINGS/PUBLIC HEARING (12.46) Consider amending Town Code Section 29.20.820 regarding Mobile Home Park Conversion, "Findings Upon Consideration of Application," to implement Housing Element Section 3.5.10 of the General Plan, Zoning Code Amendment A-98-03. Applicant: Town of Los Gatos. Council comments: To fairly treat the residents of mobile home parks, and to also recognize the property rights of land owners. Ordinance should be fair to all parties involved. Council's roll is to do what is best for the Town. Tonight's hearing is not on the closure, and its not on the economics. The hearing is on whether or not to add a paragraph and two sentences having to do with findings. The following people from the audience spoke to this issue: Jack Jones, 484 Woodland Ave. #45, asked for a list of considerations to be added to the closure report and submitted them to the Planning Director. Jerry Mirassou, Bonnie View Mobile Home Park owner, asked for a fair ordinance, and spoke of alternative addendums that would allow some mobility to the issue. He discussed conversion options that might be allowed. TC:D10:MM122198 3 Town Council Minutes December 21, 1998 Redevelopment Agency Los Gatos, California HEARINGS CONTINUED MOBILE HOME PARK CONVERSION/CONT. Council comments: The General Plan requires a one to one replacement requirement at this time. That would have to be changed before anything else could be considered. Within the context of the current ordinance and the amendments suggested, the Council is given as much discretion as possible to take into account all the parties involved when a mobile home park conversion is proposed. Speakers continued: Vikki Ricktenwald, 484 Woodland Ave, #25, approved the proposed amendments, and noted that there were insufficient units to move the present mobile home park dwellers to if there is closure. Rosemary Bittmann, 108 Villa Ave, asked Council to protect existing low income housing in Town. Bill Kraus, 484 Woodland Ave #17, member of the Rent Advisory Committee, spoke of the work of the committee involving the conclusions found in the Rental Ordinance. Spoke of 10 to 15 units per acre that would allow some development, and some consideration for moderate income housing. Supported a one to one replacement ratio. Geoff Lamb, 58 Chester, asked for one to one ratio both on site and off site for maximum flexibility. No one else from the audience addressed this issue. Motion by Mr. Pirzynski, seconded by Mr. Attaway, to close the public hearing. Carried unanimously. Motion by Mr. Attaway, seconded by Mr. Pirzynski, that Council find that the amendment is consistent with the General Plan. Carried unanimously. The Town Clerk read the Title of the Proposed Ordinance. Motion by Mrs. Lubeck, seconded by Mr. Attaway, to waive the reading of the Proposed Ordinance. Carried unanimously. Motion by Mrs. Lubeck, seconded by Mr. Attaway, that Council introduce Draft Ordinance entitled, ORDINANCE OF THE TOWN OF LOS GATOS AMENDING TOWN CODE SECTIONS 29.20.805. 29.20.807, AND 29.20.820 REGARDING MOBILE HOME PARK CONVERSION, "FINDINGS UPON CONSIDERATION OF APPLICATION: TO IMPLEMENT HOUSING ELEMENT SECTION 3.5.10 OF THE GENERAL PLAN, Carried unanimously. Mr. Attaway, spoke for the record stating that he is not in support of an increase in density but believes in protecting the quality of life. Mr. Pirzynski noted that the ordinance is as clear as it can be with flexibility built in and he invited interested parties to return and continue discussion when this issue is scheduled again. TC:D10:MM122198 4