CCDA Resolution No. 16-01 CITY OF TIGARD, OREGON
CITY CENTER DEVELOPMENT AGENCY
RESOLUTION NO. 16--aV
A RESOLUTION TO AMEND THE FY 2016 ADOPTED BUDGET FOR THE
CITY CENTER DEVELOPMENT AGENCY.
WHEREAS,the city acknowledges those items that were unknown at the time the FY 2016 Budget
was adopted;and
WHEREAS,the CCDA recognizes a total of$25,360 in additional requirements that are offset by
additional resources of equal amount.
NOW,THEREFORE,BE IT RESOLVED,by the Tigard City Center Development Agency that:
SECTION 1: The FY 2015-16 Budget is hereby amended as detailed in Exhibit A.
SECTION 2: This resolution is effective immediately upon passage.
PASSED: This 7 day of 2016.
usok
Chair City of Tigard
City CVhter Development Agency
ATTEST:
\r W , e ! • ry
Recorder—City of Tigard City Center D elopment Agency
CCDA Resolution No. 16-0
Page 1
FY 2016 Fourth Quarter Budget Supplemental Exhibit A
CCDA_01. Property purchase/sale related fees
An additional appropriation totaling$25,360 is needed for the following:
1. A request in the amount of$15,360 is needed for the FY 2015 property taxes for the Ferguson property.
The tenants have been invoiced by the city for reimbursement of the payment.
2. A total of$10,000 is required to pay the escrow and tide fees related to the sale of the Ash/Burnham
property.
As a result of this action,reserve for future expenditure within the Urban Renewal Debt Service Fund
will decrease by S10,000 with an increase in transfers.In rum,Charges for Services will increase by$15,360
in the Urban Renewal Capital Improvement Fund.Community Development program expenditures will increase
by 25,360.
Fund 1 of 2 Q3 Q4
Revised Revised
Budget Amendment Budget
Urban Renewal Debt Service Fund
Resources Beginning Fund Balance $ 185,697 $ 185,697
property Taxes S 397,792 S 39.7,792
Interest 1{arniny�s
1,000 1 1 in'u
Total Resources $ 584,489 $ $ 584,489
Requirements
Prognon Expenditures Total $ $ - $ -
Debt Service S 219,198 S 219,198
Loans $ - S -
Work-In-Progress S - S -
Transfers to Other Funds S 190,3(X) $ 10,M0 S 2(X),300
Contingency S - S
Total Budget $ 409,498 $ 10,000 $ 419,498
Reserve For Future Expenditure $ 174,991 $ (10,000) $ 164,991
Total Requirements $ 584,489 $ - $ 584,489
Fund 2 of 2 Q3 Q4
Revised Revised
Budget Amendment Budget
Urban Renewal Capital Improvement Fund
Resources Beginning Fund Balance $ 445,700 $ 445,700
Charges for Services S 84,000 S 15,3611 $ 99,360
Transfcts In from()therFunds I 19i, "'. , I�,�'inI S 2(H),30(i
Total Resource= $ 720,1100 S 25,360 $ 745,360
Requirements
Communitv Development
Program Expenditures Total $ $ 25,360 $ 25,360
Debt Service S
Loans S >
Work-In-Progress
Transfers to Other Funds
Contingency
Total Budget $ 720,000 $ 25,360 $ 745,360
Reserve For Future Expenditure $ $ - $ -
Tutrd Re,1wrcnm,nts $ 720,000 $ 25,360 $ 745,360