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TCDA Resolution No. 19-08
CITY OF TIGARD, OREGON TIGARD TOWN CENTER DEVELOPMENT AGENCY RESOLUTION NO. 19-6Y A RESOLUTION TO ADOPT THE FY 2020 FIRST QUARTER BUDGET SUPPLEMENTAL INCLUDING BUDGET ADJUSTMENTS TO TOWN CENTER DEVELOPMENT AGENCY (ICDA) URBAN DEVELOPMENT. WHEREAS, the TCDA acknowledges those items that were unknown at the time the FY 2020 budget was adopted;and WHEREAS,the TCDA recognizes approximately$253,755 of unanticipated budget in operations and transfers; and WHEREAS, the increase in budget is offset by unanticipated fund balance, miscellaneous revenue, and contingency. NOW,THEREFORE,BE IT RESOLVED by the Tigard Town Center Development Agency that: SECTION 1: The FY 2019-20 Budget is hereby amended Q1 Supplemental Summary Exhibit B. SECTION: This resolution is effective immediately upon passage. PASSED: This J'S--f�day of 19 e,6G eY 2019. f Chair-TPA ATTEST: ��'' ""A= TCDA Recorder-TCDA RESOLUTION NO. 19-U 5( Page 1 Exhibit B Urban Renewal Debt Service FY 2020 Revised Urban Renewal Debt Service Adopted QITCDA01 QlTCDA02 Q1 Resources Beginning Fund Balance $ 148,000 $ 18,000 $ 103,000 $ 269,000 Property Taxes $ 560,000 $ - $ - $ 560,000 Franchise Fees $ - $ $ $ - Special Assessments $ - $ - $ - $ - Licenses&Permits $ - $ $ - $ - Intergovernmental $ - $ $ $ - Charges for Services $ $ $ - $ Fines&Forfeitures $ $ - $ $ - Interest Earnings $ 11,100 $ - $ - $ 11,100 Miscellaneous $ - $ - $ $ - Other Financing Sources $ 792,000 $ $ $ 792,000 Transfers In from Other Funds $ - $ $ $ - Total Resources $ 1,511,100 $ 18,000 $ 103,000 $ 1,632,100 Requirements Community Development $ - $ - $ - $ - Community Services $ $ - $ - $ Policy and Administration $ $ - $ - $ Public Works $ $ - $ - $ - Program Expenditures Total $ - $ - $ - $ - Debt Service $ 1,011,350 $ - $ $ 1,011,350 Loan to TCDA $ - $ $ $ - Work-In-Progress $ - $ $ $ - Transfers to Other Funds $ 153,000 $ 18,000 $ 103,000 $ 274,000 Contingency $ - $ - $ - $ - Total Budget $ 1,164,350 $ 18,000 $ 103,000 $ 1,285,350 Reserve For Future Expenditure $ 346,750 $ - $ - $ 346,750 Total Requirements $ 1,511,100 $ 18,000 $ 103,000 $ 1,632,100 Exhibit B Urban Renewal Capital Improvements FY 2020 Revised Urban Renewal Capital Improvements Adopted QITCDA01 QITCDA02 QITCDA03 Q1 Resources Beginning Fund Balance $ 390,050 $ - $ - $ 11,755 $ 401,805 Property Taxes $ - $ - $ - $ - $ - Franchise Fees $ $ $ $ - $ - Special Assessments $ $ - $ - $ - $ - Licenses&Permits $ $ - $ $ - $ Intergovernmental $ - $ - $ - $ $ Charges for Services $ - $ $ $ $ - Fines&Forfeitures $ - $ $ $ $ - Interest Earnings $ - $ $ - $ $ - Miscellaneous $ - $ - $ $ $ - Other Financing Sources $ 6,208,000 $ $ $ $ 6,208,000 Transfers In from Other Funds $ 533,000 $ 18,000 $ 103,000 $ $ 654,000 Total Resources $ 7,131,050 $ 18,000 $ 103,000 $ 11,755 $ 7,263,805 Requirements Community Development $ 153,000 $ - $ - $ - $ 153,000 Community Services $ - $ - $ $ $ - Policy and Administration $ - $ - $ $ $ - Public Works $ - $ - $ $ - $ - Program Expenditures Total $ 153,000 $ - $ - $ - $ 153,000 Debt Service $ - $ $ $ $ - Loan to TCDA $ - $ $ $ $ - Work-In-Progress $ 1,504,500 $ 18,000 $ 103,000 $ 11,755 $ 1,637,255 Transfers to Other Funds $ - $ - $ - $ - $ - Contingency $ - $ - $ - $ - $ - Total Budget $ 1,657,500 $ 18,000 $ 103,000 $ 11,755 $ 1,790,255 Reserve For Future Expenditure $ 5,473,550 $ - $ - $ - $ 5,473,550 Total Requirements $ 7,131,050 $ 18,000 $ 103,000 $ 11,755 $ 7,263,805