HomeMy WebLinkAbout2023-02 SARDA ResolutionRESOLUTION NO. SARDA 2023-02
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
SUCCESSOR AGENCY TO THE TEMECULA
REDEVELOPMENT AGENCY APPROVING A
RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR
THE PERIOD OF JULY 1, 2024, THROUGH JUNE 30, 2025
PURSUANT TO HEALTH AND SAFETY CODE SECTION
34177 AND TAKING CERTAIN ACTIONS IN
CONNECTION THEREWITH
THE BOARD OF DIRECTORS OF THE SUCCESSOR AGENCY TO THE TEMECULA
REDEVELOPMENT AGENCY DOES HEREBY RESOLVE AS FOLLOWS:
Section 1. Recitals. The Board of Directors of the Successor Agency to the
Temecula Redevelopment Agency does hereby find, determine and declare that:
A. The Redevelopment Agency of the City of Temecula was a redevelopment agency
in the City of Temecula, duly created pursuant to the Community Redevelopment Law, Part 1,
commencing with Section 33000, of Division 24 of the California Health and Safety Code
(hereafter the "Temecula Redevelopment Agency"). On June 12, 1988, the Board of Supervisors
of the County of Riverside adopted Ordinance No. 658 adopting and approving the
"Redevelopment Plan for Riverside County Redevelopment Project No. 1988-1." On December
1, 1989, the City of Temecula was incorporated. The boundaries of the Project Area described in
the Plan are entirely within the boundaries of the City of Temecula. On April 9, 1991, the City
Council of the City of Temecula adopted Ordinances Nos. 91-08, 91-11, 91-14, and 91-15
establishing the Redevelopment Agency of the City of Temecula and transferring jurisdiction over
the Plan from the County to the City. Pursuant to Ordinance Nos. 91-11 and 91-15, the City of
Temecula and the Redevelopment Agency of the City of Temecula assumed jurisdiction over the
Plan as of July 1, 1991. The Plan has been amended by Ordinance Nos. 94-33, 06-11 and 07-20
adopted by the City Council.
B. The City Council of the City of Temecula adopted Resolution No. 12-02 January
10, 2012, pursuant to Health and Safety Code Section 34173 and applicable law electing for the
City to serve as the Successor Agency for the Temecula Redevelopment Agency upon the
dissolution of the Redevelopment Agency of the City of Temecula. The City Council of the City
of Temecula, acting as the Governing Body for the Successor Agency to the Temecula
Redevelopment Agency, adopted Resolution No. 12-01 on February 28, 2012 declaring the
Successor Agency to the Temecula Redevelopment Agency duly constituted pursuant to law and
establishing rules and regulations for the operation of the Successor Agency to the Temecula
Redevelopment Agency ("Successor Agency").
C. Pursuant to Health and Safety Code Section 34175(b) and the California Supreme
Court's decision in California Redevelopment Association, et al. v. Ana Matosantos, et al.
(53 CalAth 231(2011)), on February 1, 2012, all assets, properties, contracts, leases, books and
records, buildings, and equipment of the former Temecula Redevelopment Agency transferred to
the control of the Successor Agency by operation of law.
D. Pursuant to Health and Safety Code Section 34177(o), the Successor Agency must
prepare a Recognized Obligation Payment Schedule listing the anticipated payments for
enforceable obligations to be made by the Successor Agency during the fiscal period from July 1,
2024 through June 30, 2025 (ROPS 24-25) and submit ROPS 24-25 to the Riverside County
Oversight Board of the Successor Agency (the "Oversight Board") for approval.
E. Accordingly, the Board desires to adopt this Resolution approving the ROPS 24-
25.
Section 2. This Resolution is adopted pursuant to Health and Safety Code Section
34177.
Section 3. The Board hereby approves ROPS 24-25 substantially in the form attached
as Exhibit A to this Resolution and incorporated herein by reference (the "ROPS"). The Executive
Director of the Successor Agency, in consultation with the Successor Agency's legal counsel, may
modify the ROPS 24-25 as the Executive Director or the Successor Agency's legal counsel deems
necessary or advisable.
Section 4. The Board hereby designates the Finance Director as the official to whom
the DOF may make requests for review in connection with the ROPS 24-25 and who shall provide
the DOF with the telephone number and e-mail contact information for the purpose of
communicating with the DOF.
Section 5. Staff is hereby authorized and directed to post a copy of the Oversight
Board -approved ROPS 24-25 on the Successor Agency's website.
Section 6. The officers and staff of the Successor Agency are hereby authorized and
directed, jointly and severally, to do any and all things which they may deem necessary or
advisable to effectuate this Resolution, including submitting the ROPS 24-25 to the oversight
board for approval and requesting additional review by the DOF and an opportunity to meet and
confer on any disputed items, and any such actions previously taken by such officers are hereby
ratified and confirmed.
Section 7. The Secretary shall certify to the adoption of this Resolution.
PASSED, APPROVED, AND ADOPTED by the Board of Directors of the Successor Agency
to the Temecula Redevelopment Agency this 12'' day of December, 2023.
ATTEST:
Randi Joh , retary
[SEAL]
1
Zak Schwank, Chair
1
1
1
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
I, Randi Johl, Secretary of the Successor Agency to the Temecula Redevelopment Agency,
do hereby certify that the foregoing Resolution No. SARDA 2023-02 was duly and regularly
adopted by the Board of Directors of the Successor Agency to the Temecula Redevelopment
Agency at a meeting thereof held on the 120' day of December, 2023, by the following vote:
AYES: 5 BOARD MEMBERS:
NOES: 0 BOARD MEMBERS:
ABSTAIN: 0 BOARD MEMBERS:
ABSENT: 0 BOARD MEMBERS:
Alexander, Brown, Kalfus, Schwank,
Stewart
None
None
None
Randi Johl, Secretary
EXHIBIT A
Recognized Obligations Payment Schedule (ROPS) for the period
July 1, 2024 through June 30, 2025 (ROPS 24-25)
1
1-1
1
Ij
Recognized Obligation Payment Schedule (ROPS 24-25) - Summary
Filed for the July 1, 2024 through June 30, 2025 Period
Successor Agency: Temecula
County: Riverside
Current Period Requested Funding for Enforceable
Obligations (ROPS Detail)
A Enforceable Obligations Funded as Follows (B+C+D)
B Bond Proceeds
C Reserve Balance
D Other Funds
E Redevelopment Property Tax Trust Fund (RPTTF) (F+G
F RPTTF
G Administrative RPTTF
H Current Period Enforceable Obligations (A+E)
Certification of Oversight Board Chairman:
Pursuant to Section 34177 (o) of the Health and Safety
code, I hereby certify that the above is a true and
accurate Recognized Obligation Payment Schedule for
the above named successor agency.
24-25A Total
(July -
December)
24-25B Total
(January -
June)
ROPS 24-25
Total
$ 3,945,168
$ 3,645,567
$ 7,590,735
3,820,168
125,000
3,520,567
125,000
7,340,735
250,000
$ 3,945,168
$ 3,645,567
$ 7,590,735
Name
/s/
Title
Signature
Date
Temecula
Recognized Obligation Payment Schedule (ROPS 24-25) - ROPS Detail
July 1, 2024 through June 30, 2025
A
B
C
D
E
F
G
H
1
J
I K
L I M N O 1 P
O
R S T U V
W
ROPS 24-25A (Jul - Dec)
ROPS 24-25B (Jan - Jun)
Item
Obligation
Agreement
Agreement
Project
Total
ROPS
24-25A
24-25B
Fund Sources
Fund Sources
p
project Name
Type
Execution
Termination
Payee
Description
Area
Out
Retired
24 25
Total
Total
Bond
Reserve
Other
RPTTF
Admin
Bond
Reserve
Other
RPTTF
Admin
Date
Date
Obligation
Total
Proceeds
Balance
Funds
RPTTF
Proceeds
Balance
Funds
RPTTF
$7,590,735
$7,590,735
$
$-
$-
$3,820,168
$125,000
$3,945,168
$-
$
$
$3,520,567
$125,W
$3,645,567
1
Trustee Admin
Fees
04/24/
06/30/2036
US Bank as
Trustee Fees
No.
4,500
N
$4,500
4,500
-
$4,500
-
$-
Fees
2002
Trustee for
for TAB Bond
1-1988
Bondholders
Issues
3
Abbott OPA
OPA/DDA/
02/12/
02/12/2030
Abbott
Reimbursement
No.
750,000
N
$750,000
375,000
$375,000
375,000
$375,000
Construction
2002
Vascular
for
1-1988
Development
Improvements
4
SERAF
SERAF/
05/10/
05/10/2025
Low -Mod
Loan of Low
No.
620,091
N
$620,091
310,046
$310,046
310,045
$310,045
Payment
ERAF
2011
Housing
Mod to
1-1988
Reimbursment
Fund
Redeve. Fund
for SERAF
5
Temecula
OPA/DDA/
07/01/
07/01/2027
Temecula
Loan for
No.
295,000
N
$295,000
295,000
$295,000
$-
Gardens L.P
Construction
1998
Gardens
Affordable
1-1988
Loan
L.P.
Housing
Agreement
20
Agency
Admin
07/01/
06/30/2016
Multiple
Agency Stag
No.
250,000
N
$250,000
-
125,000
$125,000
-
125,000
$125,000
Administration
Costs
2012
Payees
Compensation /
1-1998
Agency Admin
31
Tax Allocation
Refunding
12/14/
12/15/2038
US Bank as
Bonds Issues
No.
3,562,500
N
$3,562,500
1,784,000
-
S1.784,000
1,778,500
Refunding
Bonds
2017
Trustee for
to Fund
1-1998
Bonds Series
Issued After
Bondholders
Redevelopment
]$1,778,500
2017A
6/27/12
lActivities
32
Tax Allocation
Refunding
12/14/
12/15/2039
US Bank as
Bonds Issues
No.
2,108,644
N
$2,108,644
1,051,622
$1,051,622
1,057,022
$1,057,022
Refunding
Bonds
2017
Trustee for
to Fund
1-1988
Bonds Series
Issued After
Bondholders
Redevelopment
2017B
6/27/12
Activities
Temecula
Recognized Obligation Payment Schedule (ROPS 24-25) - Report of Cash Balances
July 1, 2021 through June 30, 2022
(Report Amounts in Whole Dollars)
Pursuant to Health and Safety Code section 34177 (1), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other
funding source is available or when payment from property tax revenues is required by an enforceable obligation.
A
B
C D E F G
H
Fund Sources
Bond Proceeds
Reserve Balance
Other Funds
RPTTF
ROPS 21-22 Cash Balances
Prior ROPS
RPTTF and
Comments
(07/01/21 - 06/30/22)
Bonds issued
Bonds issued
Reserve
Rent, grants,
Non-Admin
on or before
12/31/10
on or after
01/01/11
Balances retained
interest, etc.
and Admin
for future
period(s)
1
Beginning Available Cash Balance (Actual 07/01/21)
-
13,139,890
-
-
(1,631,104)
RPTTF amount should exclude "A" period distribution
amount.
2
Revenue/Income (Actual 06/30/22)
6,388
(13,985)
7,007,284
RPTTF amount should tie to the ROPS 21-22 total
distribution from the County Auditor -Controller
3
Expenditures for ROPS 21-22 Enforceable Obligations
7,166,607
9,636,925
$3,487,341 reflects the transfer of
(Actual 06/30/22)
accumulated SERAF reimbursements to the
Housing Successor Fund.
4
Retention of Available Cash Balance (Actual 06/30/22)
RPTTF amount retained should only include the amounts
distributed as reserve for future period(s)
5
ROPS 21-22 RPTTF Prior Period Adjustment
No entry required
22,260
RPTTF amount should tie to the Agency's ROPS 21-22 PPA
form submitted to the CAC
6
Ending Actual Available Cash Balance (06/30/22)
$-
$5,979,671
$-
$(13,985)
$(4,283,005)
C to F = (1 + 2 - 3 - 4), G = (1 + 2 - 3 - 4 - 5)
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