Loading...
2020 06 16 HA Special MeetingHOUSING AUTHORITY 1 JUNE 16, 2020 SPECIAL MEETING NOTICE AND CALL OF SPECIAL MEETING OF THE LA QUINTA HOUSING AUTHORITY TO THE MEMBERS OF THE LA QUINTA HOUSING AUTHORITY AND TO THE AUTHORITY SECRETARY: NOTICE IS HEREBY GIVEN that a Special Meeting of the La Quinta Housing Authority is hereby called to be held on Tuesday, June 16, 2020, starting at 4:00 p.m.; at La Quinta City Hall located at 78495 Calle Tampico, La Quinta, CA 92253. Pursuant to Executive Orders N-25-20, N- 29-20, N-33-20, and N-35-20, executed by the Governor of California in response to the state of emergency relating to novel coronavirus disease 2019 (COVID-19) and enabling teleconferencing accommodations by suspending or waiving specified provisions in the Ralph M. Brown Act (Government Code § 54950 et seq.), members of the Housing Authority, the Executive Director, Authority Counsel, City Staff, and City Consultants may participate in this special meeting by teleconference. The special meeting is called for the following purpose. CONSENT CALENDAR 1. APPROVE SPECIAL MEETING MINUTES OF JUNE 2, 2020 BUSINESS SESSION 1. ADOPT RESOLUTION TO APPROVE FISCAL YEAR 2020/21 LA QUINTA HOUSING AUTHORITY BUDGET [RESOLUTION NO. HA 2020-001] Dated: June 12, 2020 Robert Radi ROBERT RADI, Chairperson Attest: MONIKA RADEVA Housing Authority Secretary HOUSING AUTHORITY 2 JUNE 16, 2020 SPECIAL MEETING DECLARATION OF POSTING I, Monika Radeva, Authority Secretary, do hereby declare that the foregoing notice for the Special La Quinta Housing Authority meeting of June 16, 2020 was posted on the outside entry to the Council Chamber at 78495 Calle Tampico and on the bulletin boards at 51321 Avenida Bermudas and 78630 Highway 111 on June 12, 2020. DATED: June 12, 2020 Monika Radeva, Authority Secretary La Quinta Housing Authority HOUSING AUTHORITY AGENDA 1 JUNE 16, 2020 SPECIAL MEETING HOUSING AUTHORITY AGENDA CITY HALL COUNCIL CHAMBER 78495 Calle Tampico La Quinta SPECIAL MEETING TUESDAY, JUNE 16, 2020 at 4:00 P.M. ****************************** SPECIAL NOTICE Teleconferencing and Telephonic Accessibility In Effect Pursuant to Executive Orders N-25-20, N-29-20, N-33-20, and N-35-20, executed by the Governor of California in response to the state of emergency relating to novel coronavirus disease 2019 (COVID-19) and enabling teleconferencing accommodations by suspending or waiving specified provisions in the Ralph M. Brown Act (Government Code § 54950 et seq.), members of the Housing Authority, the Executive Director, Authority Counsel, City Staff, and City Consultants may participate in this meeting by teleconference. Additionally, pursuant to the above-referenced executive orders, the public is not permitted to physically attend at City Hall the meeting to which this agenda applies, but any member of the public may listen or participate in the open session of this meeting as specified below. Members of the public wanting to listen to the open session of this meeting may do so by tuning-in live via http://laquinta.12milesout.com/video/live. Members of the public wanting to address the Housing Authority either for public comment or for a specific agenda item, or both, are requested to send an email notification to the La Quinta City Clerk’s Office at CityClerkMail@LaQuintaCA.gov, and specify the following information: Housing Authority agendas and staff reports are available on the City’s web site: www.laquintaca.gov HOUSING AUTHORITY AGENDA 2 JUNE 16, 2020 SPECIAL MEETING 1) Full Name 4) Public Comment or Agenda Item Number 2) City of Residence 5) Subject 3) Phone Number 6) Written or Verbal Comments The email “subject line” must clearly state “Written Comments” or “Verbal Comments.” Verbal public comments – requests to speak must be emailed to the Authority Secretary no later than 3:00 p.m. on the day of the meeting; the City will facilitate the ability for a member of the public to be audible to the Housing Authority and general public for the item(s) by contacting him/her via phone and queuing him/her to speak during the discussion. Only one person at a time may speak by telephone and only after being recognized by the Chairperson. Written public comments, received prior to the adjournment of the meeting, will be distributed to the Housing Authority, incorporated into the agenda packet and public record of the meeting, and will not be read during the meeting unless, upon the request of the Chairperson, a brief summary of any public comment is asked to be read, to the extent the City Clerk’s Office can accommodate such request. It would be appreciated that any email communications for public comments related to the items on the agenda, or for general public comment, are provided to the City Clerk’s Office at the email address listed above prior to the commencement of the meeting. If that is not possible, and to accommodate public comments on items that may be added to the agenda after its initial posting or items that are on the agenda, every effort will be made to attempt to review emails received by the City Clerk’s Office during the course of the meeting. The Chairperson will endeavor to take a brief pause before action is taken on any agenda item to allow the Authority Secretary to review emails and share any public comments received during the meeting. All emails received by the Authority Secretary, at the email address above, until the adjournment of the meeting, will be included within the public record relating to the meeting. ****************************** CALL TO ORDER ROLL CALL: Authority Members: Evans, Fitzpatrick, Peña, Sanchez, Chairperson Radi VERBAL ANNOUNCEMENT – AB 23 [AUTHORITY SECRETARY] HOUSING AUTHORITY AGENDA 3 JUNE 16, 2020 SPECIAL MEETING PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA At this time, members of the public may address the Housing Authority on any matter not listed on the agenda. Please email written public comments or a request to provide verbal public comments to CityClerkMail@LaQuintaCA.gov and limit your comments to three minutes (approximately 350 words). The Housing Authority values your comments; however, in accordance with State law, no action shall be taken on any item not appearing on the agenda unless it is an emergency item authorized by the Brown Act [Government Code § 54954.2(b)]. CONFIRMATION OF AGENDA CONSENT CALENDAR NOTE: Consent Calendar items are routine in nature and can be approved by one motion. PAGE 1. APPROVE SPECIAL MEETING MINUTES OF JUNE 2, 2020 5 BUSINESS SESSION PAGE 1. ADOPT RESOLUTION TO APPROVE FISCAL YEAR 2020/21 LA QUINTA HOUSING AUTHORITY BUDGET [RESOLUTION NO. HA 2020-001] 7 CHAIR AND BOARD MEMBERS' ITEMS REPORTS AND INFORMATIONAL ITEMS – NONE ADJOURNMENT *************************************** The next regular quarterly meeting of the Housing Authority will be held on July 21, 2020 at 4:00 p.m. in the City Council Chambers, 78495 Calle Tampico, La Quinta, CA 92253. DECLARATION OF POSTING I, Monika Radeva, Authority Secretary of the La Quinta Housing Authority, do hereby declare that the foregoing agenda for the La Quinta Housing Authority was posted near the entrance to the Council Chambers at 78495 Calle Tampico and on the bulletin boards at 51321 Avenida Bermudas and 78630 Highway 111, on June 12, 2020. DATED: June 12, 2020 MONIKA RADEVA, Authority Secretary HOUSING AUTHORITY AGENDA 4 JUNE 16, 2020 SPECIAL MEETING La Quinta Housing Authority Public Notices  The La Quinta City Council Chamber is handicapped accessible. If special equipment is needed for the hearing impaired, please call the City Clerk’s Office at (760) 777-7092, twenty-four (24) hours in advance of the meeting and accommodations will be made.  If special electronic equipment is needed to make presentations to the Housing Authority, arrangement should be made in advance by contacting the City Clerk's Office at (760) 777-7092. A one (1) week notice is required.  If background material is to be presented to the Housing Authority during a meeting, please be advised that eight (8) copies of all documents, exhibits, etc., must be supplied to the Authority Secretary for distribution. It is requested that this take place prior to the beginning of the meeting.  Any writings or documents provided to a majority of the Housing Authority regarding any item on this agenda will be made available for public inspection at the Authority Secretary counter at City Hall located at 78495 Calle Tampico, La Quinta, California, 92253, during normal business hours. HOUSING AUTHORITY MINUTES Page 1 of 2 JUNE 2, 2020 SPECIAL MEETING HOUSING AUTHORITY SPECIAL MEETING MINUTES TUESDAY, JUNE 2, 2020 CALL TO ORDER A special meeting of the La Quinta Housing Authority was called to order at 8:45 p.m. by Chairperson Radi. This meeting was held by teleconference pursuant to Executive orders N-25- 20, N- 29-20, N-33-20, and N-35-20, executed by the Governor of California in response to the state of emergency relating to novel coronavirus disease 2019 (COVID-19) and enabling teleconferencing accommodations by suspending or waiving specified provisions of the Ralph M. Brown Act (Government Code § 54950 et seq.). PRESENT: Authority Members: Evans, Fitzpatrick, Peña, Sanchez, and Chairperson Radi ABSENT: None STAFF PRESENT: Executive Director McMillen, Authority Counsel Ihrke, Authority Secretary Radeva, Finance Director Romero, and Assistant to the City Manager Villalpando. VERBAL ANNOUNCEMENT – AB 23 was made by the Authority Secretary PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA – None CONFIRMATION OF AGENDA – Confirmed ANNOUNCEMENTS, PRESENTATIONS, AND WRITTEN COMMUNICATIONS – None CONSENT CALENDAR 1. APPROVE SPECIAL MEETING MINUTES OF MAY 19, 2020 MOTION – A motion was made and seconded by Authority Members Fitzpatrick/Peña to approve the Consent Calendar. Motion passed unanimously. BUSINESS SESSION – None CONSENT CALENDAR ITEM NO. 1 5 HOUSING AUTHORITY MINUTES Page 2 of 2 JUNE 2, 2020 SPECIAL MEETING STUDY SESSION 1. DISCUSS FISCAL YEAR 2020/21 PROPOSED HOUSING AUTHORITY BUDGET Finance Director Romero presented the staff report, which is on file in the Clerk’s office. Authority Members discussed housing funds can be used to support affordable housing programs initiated and executed by other organizations, such as Habitat for Humanity; it is not required that the City own the properties; the state requirement is that the household qualifies as low-income based on State guidelines, not the physical property it resides in; other projects that would qualify to use housing funds; potential reimbursement the City could receive under the Federal Emergency Management Assistance program for qualifying expenses to City facilities. Staff explained the process Habitat for Humanity uses to qualify and execute its affordable housing assistance program to assist individuals in need; and noted funds provided by the City would apply only to costs related to the acquisition of the materials necessary to complete the repairs, and Habitat for Humanity would provide the labor. The Authority directed Staff to further explore additional program options to assist low-income residents, and to fund and sustain such a program long- term whether directly through the City or via a qualified outside agency and bring it back for the Authority review and consideration. The Authority concurred with the draft budget as presented. CHAIR AND BOARD MEMBERS' ITEMS – None REPORTS AND INFORMATION ITEMS – None ADJOURNMENT There being no further business, it was moved and seconded by Authority Members Evans/Fitzpatrick to adjourn at 9:11 p.m. Motion passed unanimously. Respectfully submitted, MONIKA RADEVA, Authority Secretary La Quinta Housing Authority 6 City of La Quinta HOUSING AUTHORITY MEETING: June 16, 2020 STAFF REPORT AGENDA TITLE: ADOPT RESOLUTION OF THE LA QUINTA HOUSING AUTHORITY TO APPROVE FISCAL YEAR 2020/21 BUDGET RECOMMENDATION Adopt a Resolution of the La Quinta Housing Authority approving the fiscal year 2020/21 Housing Authority Budget. EXECUTIVE SUMMARY •Annually, the budget for the La Quinta Housing Authority is prepared and submitted for the Housing Authority’s review and approval. •The Housing Commission reviewed and approved the Housing Authority’s Budget. •The Housing Fund (241) includes operating revenue of $513,300 and total expenditures of $816,100. The shortfall ($302,800) will be covered by fund balance (estimated at $10.8 million). •The RDA Low-Mod Fund (243) recognizes loan repayments in unassigned reserves. The loan repayment for 2020/21 will be $647,767. Expenditures for this fund total $250,000. •Low/Moderate Bond Funds (249) are for the acquisition of real property and the evaluation of future affordable housing projects. FISCAL IMPACT Project expenditures for all Housing Funds are $1,126,100 with revenues of $1,396,067 (inclusive of the loan repayment). Twenty percent ($647,767) of the annual loan repayments to the General Fund from the Successor Agency are designated for housing. BACKGROUND/ANALYSIS Staff provided an overview of the proposed budget to the Housing Commission on May 6 and on June 10, 2020. The Housing Authority reviewed and commented on the proposed budget on May 19 and June 2, 2020. All study session discussions have been incorporated into the final budget. BUSINESS SESSION ITEM NO. 1 7 Minor expense updates (increased by $6,200) were incorporated for workers compensation and information technology charges which are distributed based on total number of employees allocated to each division. These adjustments are a result of staff reductions, which redistributed the total percentage allocated to all divisions. Line item details for revenues and expenses are located in Attachment 1. ALTERNATIVES The Authority may further adjust the various appropriations. Prepared by: Karla Romero, Finance Director Approved by: Jon McMillen, Executive Director Attachment: 1. Fiscal Year 2020/21 Housing Authority Budget 8 RESOLUTION NO. HA 2020 – XXX A RESOLUTION OF THE HOUSING AUTHORITY OF THE CITY OF LA QUINTA, CALIFORNIA, APPROVING FISCAL YEAR 2020/21 BUDGET WHEREAS, each year the La Quinta Housing Authority adopts a Budget for Revenues and Expenditures for the upcoming Fiscal Year; and WHEREAS, the Housing Authority desires to make provisions for a level of services commensurate with the needs of the City; and WHEREAS, the Housing Authority has reviewed said budget and has had several public meetings to receive public input; and WHEREAS, the Housing Authority has, after due deliberation and consideration, made such amendments in the proposed budget as it considers desirable; and NOW, THEREFORE, BE IT RESOLVED by the La Quinta Housing Authority to adopt, as follows: SECTION 1. The Fiscal Year 2020/21 Budget, which is on file with the La Quinta Housing Authority Secretary is hereby approved. SECTION 2. Budget adjustment procedures are approved as follows: A. Additional appropriations and the transfer of cash or unappropriated fund balance from one fund to another shall be made only upon Housing Authority approval. B. Transfers of budgeted appropriations between divisions or capital projects shall be made only upon Housing Authority approval. C. Transfers of budgeted appropriations between accounts within a division or capital project may be made with the approval of the Executive Director or his designee. D. Prior year budget continuing Appropriations and Encumbrances for unexpended capital project appropriations remaining from uncompleted prior year capital projects shall be made with Executive Director approval. These carry-over appropriations are for prior year Housing Authority approved capital projects and shall not exceed the approved project budget. 9 Resolution No. HA 2020 - XXX Budget Approval FY 2020/21 Adopted: June 16, 2020 Page 2 of 2 SECTION 3. The Executive Director shall render a monthly report on the status of City operations as it relates to the approved budget and any amendments thereto. PASSED, APPROVED, and ADOPTED at a regular meeting of the La Quinta Housing Authority held on this 16th day of June 2020, by the following vote: AYES: NOES: ABSENT: ABSTAIN: _________________________ ROBERT RADI, Chairperson La Quinta Housing Authority, California ATTEST: ______________________________ MONIKA RADEVA, Authority Secretary La Quinta Housing Authority, California (AUTHORITY SEAL) APPROVED AS TO FORM: ________________________________ WILLIAM H. IHRKE, Authority Attorney La Quinta Housing Authority, California 10 2020 212020CITY OF LA QUINTA HOUSING AUTHORITY ADOPTED BUDGET ATTACHMENT 1 11 This page intentionally left blank. 12 Housing Fund Revenues 2019/20 Current Variance Original vs Current 2020/21 Adopted Variance Current vs. Adopted % Change - 241 - Housing Authority 1,688,256 1,240,256 513,300 (1,174,956)-70% 243 - RDA Low-Mod Housing 40,000 18,000 35,000 (5,000) -13% 249 - SA 2011 Low/Mod Bond 350,000 80,000 200,000 (150,000) -43% Total Revenues 2,078,256 1,338,256 748,300 (1,329,956) -64% RDA Loan Repayment 635,065 - 647,767 12,702 Total Operating Revenues 2,713,321 1,338,256 1,396,067 (1,317,254) Housing Fund Expenditures 2019/20 Current Variance Original vs Current 2020/21 Adopted Variance Current vs. Adopted % Change 241 - Housing Authority 990,957 381,657 822,300 (168,657) -17% 243 - RDA Low-Mod Housing 351,000 101,000 250,000 (101,000) -29% 249 - SA 2011 Low/Mod Bond 60,000 40,000 6,185,000 6,125,000 10208% Total Expenditures 1,401,957 522,657 7,257,300 5,855,343 418% Budget Surplus/(Deficit) 1,311,364 815,599 (5,861,233) HOUSING AUTHORITY 2020/21 BUDGET SUMMARY FUND #FUND NAME ESTIMATED AVAILABLE FUND BALANCE July 1, 2020 ESTIMATED REVENUES ESTIMATED EXPENDITURES ESTIMATED ENDING FUND BALANCE June 30, 2021 241 HOUSING AUTHORITY FUND 10,800,000 513,300 822,300 10,491,000 243* RDA LOW-MOD HOUSING FUND 2,600,000 682,767 250,000 3,032,767 249 SA 2011 LOW/MOD BOND 17,100,000 200,000 6,185,000 11,115,000 30,500,000 1,396,067 7,257,300 24,638,767 CITY OF LA QUINTA ESTIMATED ENDING FUND BALANCES FISCAL YEAR ENDING JUNE 30, 2021 GRAND TOTAL * General Fund and RDA Low-Mod Housing Fund estimates are for unappropriated reserves and included annual Successor Agency loan repayments as approved with the last and final recognized obligation payment schedule. The repayment for FY 2020/21 is $647,767. 13 2019/20 Current Budget 2020/21 Proposed 1 2020/21 Proposed 2 2020/21 Adopted 241 - HOUSING AUTHORITY 230,000 250,000 200,000 200,000241-9101-41900 Allocated Interest 0 300 300 300241-9101-41915 Non-Allocated Interest 58,800 0 0 0241-9101-43500 Home Sale Proceeds 50,000 25,000 25,000 25,000241-9101-43504 2nd Trust Deed Repayments 1,061,456 0 0 0241-9101-45000 Sale of Other Assets 288,000 288,000 288,000 288,000241-9103-43502 Rent Revenue/LQRP Total:1,688,256 563,300 513,300 513,300 243 - RDA LOW-MOD HOUSING FUND 40,000 40,000 35,000 35,000243-0000-41900 Allocated Interest Total:40,000 40,000 35,000 35,000 249 - SA 2011 LOW/MOD BOND FUND (Refinanced in 2 350,000 350,000 200,000 200,000249-0000-41915 Non-Allocated Interest Total:350,000 350,000 200,000 200,000 HOUSING AUTHORITY REVENUE 2,078,256 953,300 748,300 748,300 230,000 250,000 200,000 200,000 0 300 300 300 58,800 0 0 0 50,000 25,000 25,000 25,000 1,061,456 0 0 0 288,000 288,000 288,000 288,000 1,688,256 563,300 513,300 513,300 40,000 40,000 35,000 35,000 40,000 40,000 35,000 35,000 350,000 350,000 200,000 200,000 350,000 350,000 200,000 200,000 2,078,256 953,300 748,300 748,300 CITY OF LA QUINTA HOUSING AUTHORITY REVENUE DETAILS FY 2020/21 ADOPTED BUDGET 241 Fund Second Trust Deed Payments and Home Sale Proceeds vary from year-to-year. Additional repayment of silent second trust deeds are recognized upon receipt. 241 Fund, 241-9101-45000, Sale of Other Assets revenues in FY 2019/20 reflects the purchase and sale agreement between the City of La Quinta and the La Quinta Housing Authority for property at Dune Palms Road for the Dune Palms Retention Basin and XPark projects. 243 Fund the 2020/21 former Redevelopment Agency loan repayment of $647,767 will be recognized in reserves within this Fund. 248 Fund was fully used for the Washington Street Apartment rehabilitation and expansion project. 249 Fund was partially used for the Washington Street Apartment rehabilitation and expansion project. Remaining bond funds continue to earn interest and are available for future housing projects. 14 2019/20 Current Budget 2020/21 Proposed 1 2020/21 Proposed 2 2020/21 Adopted 241 - HOUSING AUTHORITY 9101 - Housing Authority - Admin Salaries and Benefits 143,595 254,800 246,900 246,900241-9101-50101 Permanent Full Time 3,000 3,000 3,000 3,000241-9101-50110 Commissions & Boards 200 400 400 400241-9101-50150 Other Compensation 10,600 17,500 16,800 16,800241-9101-50200 PERS-City Portion 31,800 57,500 57,500 57,500241-9101-50221 Medical Insurance 900 1,500 1,500 1,500241-9101-50225 Long Term Disability 3,400 5,200 5,200 5,700241-9101-50230 Workers Comp Insurance 2,100 3,700 3,600 3,600241-9101-50240 Social Security-Medicare 50 - Salaries and Benefits Totals:195,595 343,600 334,900 335,400 Contract Services 121,000 100,000 100,000 100,000241-9101-60103 Professional Services 5,000 5,000 5,000 5,000241-9101-60106 Auditors 25,000 35,000 35,000 35,000241-9101-60153 Attorney 60 - Contract Services Totals:151,000 140,000 140,000 140,000 Maintenance & Operations 3,000 500 500 500241-9101-60320 Travel & Training 1,500 2,000 2,000 2,000241-9101-60420 Operating Supplies 62 - Maintenance & Operations Totals:4,500 2,500 2,500 2,500 Insurance 6,000 8,000 8,000 8,000241-9101-91843 Property & Crime Insurance 63 - Insurance Totals:6,000 8,000 8,000 8,000 Other Expenses 0 0 20,000 20,000241-9101-60480 Contributions 64 - Other Expenses Totals:0 0 20,000 20,000 Internal Service Charges 14,000 14,000 14,000 14,000241-9101-91844 Earthquake Insurance 24,800 46,700 46,700 52,400241-9101-98110 Information Tech Charges 69 - Internal Service Charges Totals:38,800 60,700 60,700 66,400 Transfers Out 278,062 0 0 0241-9101-99900 Transfers Out 99 - Transfers Out Totals:278,062 0 0 0 9101 - Housing Authority - Admin Totals:673,957 554,800 566,100 572,300 9103 - Housing Authority - LQRP Maintenance & Operations 317,000 250,000 250,000 250,000241-9103-60157 Rental Expenses 62 - Maintenance & Operations Totals:317,000 250,000 250,000 250,000 9103 - Housing Authority - LQRP Totals:317,000 250,000 250,000 250,000 241 - HOUSING AUTHORITY Totals:990,957 804,800 816,100 822,300 143,595 254,800 246,900 246,900 3,000 3,000 3,000 3,000 200 400 400 400 10,600 17,500 16,800 16,800 31,800 57,500 57,500 57,500 900 1,500 1,500 1,500 3,400 5,200 5,200 5,700 2,100 3,700 3,600 3,600 195,595 343,600 334,900 335,400 121,000 100,000 100,000 100,000 5,000 5,000 5,000 5,000 25,000 35,000 35,000 35,000 151,000 140,000 140,000 140,000 3,000 500 500 500 1,500 2,000 2,000 2,000 4,500 2,500 2,500 2,500 6,000 8,000 8,000 8,000 6,000 8,000 8,000 8,000 0 0 20,000 20,000 0 0 20,000 20,000 14,000 14,000 14,000 14,000 24,800 46,700 46,700 52,400 38,800 60,700 60,700 66,400 278,062 0 0 0 278,062 0 0 0 673,957 554,800 566,100 572,300 317,000 250,000 250,000 250,000 317,000 250,000 250,000 250,000 317,000 250,000 250,000 250,000 990,957 804,800 816,100 822,300 CITY OF LA QUINTA HOUSING AUTHORITY EXPENSES FY 2020/21 ADOPTED BUDGET 15 Fund: 241 - HOUSING AUTHORITY Permanent Full Time 246,900.00241-9101-50101 20% - City Manager (80% City Manager) 10% - Finance Director (90% Finance) 10% - City Clerk (90% City Clerk) 40% - Assistant to City Manager (60% City Manager) 60% - Management Analyst (40% Information Technology Fund) 60% - Management Specialist (40% City Manager) 80% - Management Assistant (20% City Manager) In 2020/21, staff has been reallocated to meet business demands. City Council Member Stipends (5) Professional Services 100,000.00241-9101-60103 Expense increase in 2019/20 due to recent request for proposal responses. Operating Supplies 2,000.00241-9101-60420 Tenant communication Rental Expenses 250,000.00241-9103-60157 Expenses are associated with 28 homes owned by the Authority which are located in the La Quinta Cove. CITY OF LA QUINTA HOUSING AUTHORITY EXPENSE NOTES FY 2020/21 ADOPTED BUDGET 16 2019/20 Current Budget 2020/21 Proposed 1 2020/21 Proposed 2 2020/21 Adopted 243 - RDA LOW-MOD HOUSING FUND 0000 - Undesignated Other Expenses 351,000 250,000 250,000 250,000243-0000-60532 Homelessness Assistance 64 - Other Expenses Totals:351,000 250,000 250,000 250,000 0000 - Undesignated Totals:351,000 250,000 250,000 250,000 243 - RDA LOW-MOD HOUSING FUND Totals:351,000 250,000 250,000 250,000 351,000 250,000 250,000 250,000 351,000 250,000 250,000 250,000 351,000 250,000 250,000 250,000 351,000 250,000 250,000 250,000 CITY OF LA QUINTA HOUSING AUTHORITY EXPENSES FY 2020/21 ADOPTED BUDGET 17 2019/20 Current Budget 2020/21 Proposed 1 2020/21 Proposed 2 2020/21 Adopted 248 - SA 2004 LO/MOD BOND FUND (Refinanced in 201 9102 - Housing Authority - Wash St Apts Contract Services 145,000 0 0 0248-9102-60103 Professional Services 245,500 0 0 0248-9102-60159 Relocation Benefits 60 - Contract Services Totals:390,500 0 0 0 9102 - Housing Authority - Wash St Apts Totals:390,500 0 0 0 2004 LO/MOD BOND FUND (Refinanced in 2014) Totals:390,500 0 0 0 145,000 0 0 0 245,500 0 0 0 390,500 0 0 0 390,500 0 0 0 390,500 0 0 0 CITY OF LA QUINTA HOUSING AUTHORITY EXPENSES FY 2020/21 ADOPTED BUDGET 248 Fund was fully used for the Washington Street Apartment rehabilitation and expansion project. 18 2019/20 Current Budget 2020/21 Proposed 1 2020/21 Proposed 2 2020/21 Adopted 249 - SA 2011 LOW/MOD BOND FUND (Refinanced in 20 0000 - Undesignated Capital Expenses 0 0 0 6,125,000249-0000-74010 Land Acquisition 60,000 60,000 60,000 60,000249-0000-80050 Affordable Housing Project Develop 68 - Capital Expenses Totals:60,000 60,000 60,000 6,185,000 0000 - Undesignated Totals:60,000 60,000 60,000 6,185,000 11 LOW/MOD BOND FUND (Refinanced in 2016) Totals:60,000 60,000 60,000 6,185,000 0 0 0 6,125,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 6,185,000 60,000 60,000 60,000 6,185,000 60,000 60,000 60,000 6,185,000 CITY OF LA QUINTA HOUSING AUTHORITY EXPENSES FY 2020/21 ADOPTED BUDGET 249 Fund was partially used for the Washington Street Apartment rehabilitation and expansion project. Remaining funds are available for future housing projects. FY 2020/21 land acquisition is for negotiated real property located on Dune Palms Road. 19 20 POWER POINTS HOUSING AUTHORITY SPECIAL MEETING JUNE 16, 2020 June 16, 2020 1 Housing Authority Meeting June 16, 2020 B1 – Adopt Fiscal Year 2020/21 Budget Budget Summary Housing Fund Revenues 2019/20 Current Variance Original vs Current 2020/21 Adopted - 241 - Housing Authority 1,688,256 1,240,256 513,300 243 - RDA Low-Mod Housing 40,000 18,000 35,000 249 - SA 2011 Low/Mod Bond 350,000 80,000 200,000 Total Revenues 2,078,256 1,338,256 748,300 RDA Loan Repayment 635,065 - 647,767 Total Operating Revenues 2,713,321 1,338,256 1,396,067 Housing Fund Expenditures 2019/20 Current Variance Original vs Current 2020/21 Adopted 241 - Housing Authority 990,957 381,657 822,300 243 - RDA Low-Mod Housing 351,000 101,000 250,000 249 - SA 2011 Low/Mod Bond 60,000 40,000 6,185,000 Total Expenditures 1,401,957 522,657 7,257,300 Budget Surplus/(Deficit) 1,311,364 815,599 (5,861,233) Approved by Housing Commission Ongoing operations are  structurally balanced  Incorporates use of Bond  proceeds for one‐time property  acquisition  56 57 June 16, 2020 2 Housing Fund Balances FUND #FUND NAME ESTIMATED AVAILABLE FUND BALANCE July 1, 2020 ESTIMATED REVENUES ESTIMATED EXPENDITURES ESTIMATED ENDING FUND BALANCE June 30, 2021 241 HOUSING AUTHORITY FUND 10,800,000 513,300 822,300 10,491,000 243* RDA LOW-MOD HOUSING FUND 2,600,000 682,767 250,000 3,032,767 249 SA 2011 LOW/MOD BOND 17,100,000 200,000 6,185,000 11,115,000 30,500,000 1,396,067 7,257,300 24,638,767 CITY OF LA QUINTA ESTIMATED ENDING FUND BALANCES FISCAL YEAR ENDING JUNE 30, 2021 GRAND TOTAL * General Fund and RDA Low-Mod Housing Fund estimates are for unappropriated reserves and included annual Successor Agency loan repayments as approved with the last and final recognized obligation payment schedule. The repayment for FY 2020/21 is $647,767. Questions, Discussion, Comments 58 59 June 16, 2020 3 60