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For fiscal year July 1, 2004 - June 30, 2005, the City of
Fontana Redevelopment Agency completed the following project
activities:
Downtown Redevelopment Project
In Fiscal Year 2004/2005 Agency staff continued to work extensively with: 1) the Downtown Revitalization Task to assist them in establishing a vision for the future of the central part of the City; and 2)the Downtown Business Association to implement activities including Cruise Night and the painting of downtown business buildings. Most of the anticipated Fiscal Year 2004/2005 tax increment was committed to debt service payments. There was little funding for new major redevelopment projects for the Downtown Project Area. Smaller scale projects were recommended. The design for the new library was completed and $14.9 million dollars for construction funding was received from the State Library Bond Program.
Total expenditures of capital projects funds amounted to $1,189,746.00:
| Administration Costs |
$218,696.00 |
| Professional Services |
$ 22,379.00 |
| Real Estate Purchases |
$272,153.00 |
| Acquisition Expense |
$ 70,000.00 |
| Operating of Acquired Property |
$ 906.00 |
| Project Improvement/Construction Cost |
$ 97,868.00 |
| Interest Expense |
$158,584.00 |
| Other Expenditures Including Pass- Through Payment(s) |
$349,160.00 |
| Total Expenditures |
$ 1,189,746.00 |
Jurupa Hills Redevelopment Project
The Fiscal Year 2004/2005 budget provided for the continued monitoring and implementation of the OPA, Facilitation Agreement, Development Agreement, Second Agreement and the various other linked agreements between the Agency, City, and the Master Developer (Ten-Ninety, LTD) to ensure compliance and to avoid potential costly litigation and legal expenses.
Although not directly funded by Agency revenues, staff worked on an important “Robert W. Weddle Capital Improvement Project” that did benefit the Project Area. The project included the preliminary design of the north side of Jurupa Avenue to its full right-of-way from Mulberry Avenue east to Sierra Avenue.
Total expenditures of capital projects funds amounted to
$2,191,514.00:
| Administration Costs |
$6,109.00 |
| Professional Services |
$ 36.00 |
| Project Improvement/Construction Cost |
$ 1,871,603.00 |
| Interest Expense |
$ 312,946.00 |
| Other Expenditures Including Pass- Through Payment(s) |
$ 739.00 |
| Total Expenditures |
$ 2,191,514.00 |
North Fontana Redevelopment Project
Fiscal Year 2004/2005 witnessed significant residential and commercial growth that resulted in substantial tax increment revenues that allowed for the refinancing of existing bonds, the sale of new bonds, and the creation of capital funds for new improvement projects to eliminate blight. Categorized as part of the Robert W. Weddle Capital Improvement Program, these projects included the Baseline Storm Drain and Street Improvements, Summit Avenue Utility and Street Improvements, San Sevaine Multi-purpose Trail, and the Sierra Avenue and Citrus Avenue Street Improvements. Capital improvement projects were prioritized for implementation in Fiscal Year 2004/2005.
Total expenditures of capital projects funds amounted to
$27,370,177.00:
| Administration Costs |
$2,087,378.00 |
| Professional Services |
$ 400,125.00 |
| Real Estate Purchases |
$3,121,976.00 |
| Acquisition Expense |
$ 188,798.00 |
| Site Clearance Costs |
$ 230.00 |
| Project Improvement/Construction Costs |
$ 9,335,986.00 |
| Debt Issuance Costs |
$ 2,690,772.00 |
| Other Expenditures Including Pass-Through Payment(s) |
$ 9,544,912.00 |
| Total Expenditures |
$27,370,177.00 |
Sierra Corridor Redevelopment Project
The Fiscal Year 2004/2005 revenues, to the extent available, were utilized to assist in implementing the workout strategy for the Empire Center. Staff and its team of consultants mounted an intensive effort to resolve all financial issues, environmental and land use element such that the City was able to convey the land to a private developer for industrial, commercial and residential development. Funds were also utilized to reconstruct a portion of Sierra Avenue immediately north of the I-10 freeway.
Total expenditures of capital projects funds amounted to
$14,702,804.00:
| Administration Costs |
$62,242.00 |
| Professional Services |
$ 81,577.00 |
| Real Estate Purchases |
$945,565.00 |
| Acquisition Expense |
$ 5,229.00 |
| Operating of Acquired Property |
$ 3,880.00 |
| Relocation Costs |
$ 29,119.00 |
| Relocation Payments |
$ 330,734.00 |
| Site Clearance Costs |
$ 201,510.00 |
| Project Improvement/Construction Costs |
$1,002,593.00 |
| Interest Expense |
$91,888.00 |
| Debt Issuance Costs |
$ 311,308.00 |
| Other Expenditures Including Pass- Through Payment(s) |
$4,405,797.00 |
| City/County Advances and Loans |
$7,231,362.00 |
| Total Expenditures |
$14,720,900.00 |
Southwest Industrial Park Redevelopment
Project
There has been significant industrial growth in SWIP resulting in greater tax increment revenues for the Agency, jobs for the people, and general revenue for the City. The Agency’s most recent project in SWIP was the completion of the Auto Mall. The Agency sold 27.53 acres of land to Sunrise Management Company for the relocation and development of a Ford dealership and several additional franchises. Required infrastructure construction by the agency to serve the general area has been completed. The focus of the Agency efforts in Fiscal Year 2004/2005 included: 1) Developing strategies to stimulate the economic potential of the Valley Boulevard Corridor (the northern portion of SWIP); 2) Construction of key segment of the San Sevaine Flood Control System (Philadelphia Avenue north to Jurupa Avenue); and 3) Completion of the engineering design for incomplete segments of Jurupa Avenue through SWIP.
Total expenditures of capital projects funds amounted to
$2,281,658.00:
| Administration Costs |
$ 204,405.00 |
| Professional Services |
$ 4,040.00 |
| Project Improvement/Construction Costs |
$ 465,335.00 |
| Other Expenditures Including Pass- Through Payment(s) |
$ 1,607,878.00 |
| Total Expenditures |
$ 2,281,658.00 |
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