Decisions by the Yorba Linda City Council on allocating excess cash reserves and a state-mandated progress report on meeting California housing requirements merit attention this week.<\/p>\n
Council members approved the disposition of about $7.2 million in excess reserves held in the general fund reserve account at a March 17 meeting. Most of the cash \u2013 $5.6 million \u2013 will be moved to a special reserve fund for future capital improvement projects.<\/p>\n
Significant amounts of $583,100 each will be used to help offset the city\u2019s unfunded pension and post-employment benefits liabilities. Since mid-2017, the city has allotted about $3.1 million to offset the pension liability and about $3.7 million for post-employment benefits.<\/p>\n
The council\u2019s action included retaining the remainder in the general fund operating reserve.<\/p>\n
The separate library fund, with revenues exceeding expenditures by $933,800, transferred $700,000 for future maintenance and capital improvements and contributed $116,900 each for meeting unfunded pension and post-employment benefits liabilities.<\/p>\n
A council policy states that when general fund operating reserves exceed 60% of general fund appropriations, city staff will recommend to the council a plan to use the excess funds, which totaled $7.2 million. Some $23.8 million will remain in the reserve fund.<\/p>\n
When the current fiscal year ends June 30, a $51,000 operating budget surplus is expected, down from $114,253 anticipated when the council approved appropriations of $50.9 million.<\/p>\n
The state requires cities to submit an annual report summarizing progress on implementing the city\u2019s general plan and reports on housing production, stated a report from Planning Manager Chris Dominguez.<\/p>\n
\u201cThe city remains in compliance with state housing laws and maintains a state-certified housing element, but like most cities, may be subject to \u2026 provisions related to housing production progress,\u201d Dominguez reported.<\/p>\n
The city\u2019s current Regional Housing Needs Allocation is to provide opportunities for 2,415 units, including 765 for very-low household incomes, 451 for low household incomes, 457 for moderate household incomes and 742 for above-moderate household incomes.<\/p>\n
The report states that for 2021 through 2025, 239 units have been permitted, including 91 for very-low income households, 24 for low income households, 16 for moderate income households and 109 for above-moderate income households.<\/p>\n
Yorba Linda has been subject to a state provision requiring \u201cby right approval\u201d of projects proposing 50% affordability units since 2018, without ever having a developer submit a project under that provision, according to Dominguez.<\/p>\n
This provision is separate from the \u201cbuilder\u2019s remedy\u201d under the state Housing Accountability Act, allowing \u201cby-right approval\u201d of projects that do not comply with the general plan or zoning code in cities without a state-certified housing element, a requirement that Yorba Linda meets, Dominguez noted.<\/p>\n
Jim Drummond is a longtime Yorba Linda resident. He regularly gives his take on local issues. Send e-mail to jimdrummond@hotmail.com.<\/p>\n","protected":false},"excerpt":{"rendered":"Decisions by the Yorba Linda City Council on allocating excess cash reserves and a state-mandated progress report on…\n","protected":false},"author":2,"featured_media":99967,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[163,165,164,7,12964,611,77,7537],"class_list":["post-237800","post","type-post","status-publish","format-standard","has-post-thumbnail","category-anaheim","tag-anaheim","tag-anaheim-headlines","tag-anaheim-news","tag-california","tag-jim-drummond","tag-orange-county","tag-uncategorized","tag-yorba-linda"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/237800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=237800"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/237800\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/99967"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=237800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=237800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=237800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}