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Home My WebLink About082212 OB SARDA Agenda In compliance with the Americans with Disabilities Act, if you need special assistance to participate in this meeting, please contact the office of the City Clerk (951) 694 -6444. Notification 48 hours prior to a meeting will enable the City to make reasonable arrangements to ensure accessibility to that meeting [28 CFR 35.102.35.104 ADA Title II]. MEETING NOTICE /AGENDA OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY REGULAR MEETING COUNCIL CHAMBERS 41000 MAIN STREET AUGUST 22, 2012 — 6:30 PM Next in Order: Resolution: 12 -07 CALL TO ORDER: Chairperson John Meyer Roll Call: Meyer, Thornhill, Gonzales, Kelliher, Ordway -Peck, Sparkm an, Turner, PUBLIC COMMENTS A total of 15 minutes is provided so members of the public may address the Commission on items that are not listed on the Agenda. Speakers are limited to three minutes each. If you desire to speak to the Commission about an item not on the Agenda, a salmon colored "Request to Speak" form should be filled out and filed with the Commission Secretary. When you are called to speak, please come forward and state your name for the record. For all other agenda items a "Request to Speak" form must be filed with the Commission Secretary prior to the Commission addressing that item. There is a three - minute time limit for individual speakers. CONSENT CALENDAR 1 Minute RECOMMENDATION: 1.1 Approve the action minutes of April 25, 2012. 2 Minute RECOMMENDATION: 2.1 Approve the action minutes of May 23, 2012. BOARD BUSINESS 3 Review Recognized Obligation Payment Schedules for the periods of January 1 2013 through June 30, 2013. 1 ADJOURNMENT Next regular meeting: Wednesday, August 22, 2012, 6:30 PM, in the Great Oak Conference Room, 41000 Main Street, Temecula, California. d�q 6Y/n,-� Date Susan W. ones, PM Board Secretary NOTICE TO THE PUBLIC The Agenda will be available for viewing, prior to the meeting, at the Main Reception at City Hall — 41000 Main Street, Temecula, 8:00 — 5:00 PM as well as on the City's website — www.cltvaft®m®oula.ara Any staff report/written material pertaining to this meeting will be available, prior to the meeting, for public review at the Main Reception and at the respective meeting. Any Supplemental Material distributed to a majority of the Committee Members regarding any item on the Agenda, after the posting of the Agenda, will be available for public review at the Main Reception. In addition, such material will be made available for review at the respective meeting. If you have any questions regarding any item of business on the Agenda for this meeting, please contact City Hall — 951- 694 -6400. 2 ACTION MINUTES OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY REGULAR MEETING CITY COUNCIL CHAMBERS 41000 MAIN STREET APRIL 25, 2012 — 6:30 PM CALL TO ORDER: John Meyer, Chairperson Roll Call: Meyer, Thornhill, Sparkman, Turner PUBLIC COMMENTS A total of 15 minutes is provided so'members of the public may address the Commission on items that are not listed on the Agenda. Speakers are limited to three minutes each. If you desire to speak to the Commission about an item not on the Agenda, a "Request to Speak" form should be filled out and filed with the Board Secretary. When you are called to speak, please come forward and state your name for the record. For all other agenda items a "Request to Speak" form must be filed with the Board Secretary prior to the Commission addressing that item. There is a three - minute time limit for individual speakers. None CONSENT CALENDAR 1 Approve the Minutes of March 28, 2012 CONTINUED TO NEXT SCHEDULE MEETING DUE TO LACK OF QOURUM OF BOARD MEMBERS FROM MEETING OF MARCH 28, 2012. BOARD BUSINESS 2 Adopt a Recognized Obligation Payment Schedule for July 1, 2012 through December 31, 2012 APROVED 4 -0; VOTE REFLECTED UNANIMOUS APPROVAL RECOMMENDATION: 2.1 Adopt a resolution entitled: RESOLUTION NO. OB SARDA 12 -05 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD OF JULY 1, 2012 THROUGH 1 DECEMBER 31, 2012 PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177 AND TAKING CERTAIN ACTIONS IN CONNECTION THEREWITH 3 Adopt Proposed Administrative Budgets for the Successor Agency to the Temecula Redevelopment Agency Pursuant to Health and Safety Code Section 34177 APPROVED 4 -0; VOTE REFELCTED UNANIMOUS APPROVAL RECOMMENDATION: 3.1 Adopt a resolution entitled: OB SARDA RESOLUTION NO. 12 -06 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY APPROVING PROPOSED ADMINISTRATIVE BUDGETS PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177 AND TAKING CERTAIN ACTIONS IN CONNECTION THEREWITH ADJOURNMENT Next regular meeting: Wednesday, May 9, 2012, 6:30 PM, City Council Chambers, 41000 Main Street, Temecula, California. John Meyer Chairperson Robert C. Johnson Executive Director /City Manager ATTEST: Susan W. Jones, MMC Agency Secretary/City Clerk 2 ACTION MINUTES OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY REGULAR MEETING CITY COUNCIL CHAMBERS 41000 MAIN STREET MARCH 28, 2012 — 6:30 PM CALL TO ORDER: Chairperson John Meyer Roll Call: Meyer, Thornhill, Gonzales, Kelliher, Ordway -Peck, Sparkman,Turner, PUBLIC COMMENTS A total of 15 minutes is provided so members of the public may address the Commission on items that are not listed on the Agenda. Speakers are limited to three minutes each. If you desire to speak to the Commission about an item not on the Agenda, a salmon colored "Request to Speak" form should be filled out and filed with the Commission Secretary. When you are called to speak, please come forward and state your name for the record. For all other agenda items a "Request to Speak" form must be filed with the Commission Secretary prior to the Commission addressing that item. There is a three - minute time limit for individual speakers. NOTICE TO THE PUBLIC All matters listed under Consent Calendar are considered to be routine and all will be enacted by one roll call vote. There will be no discussion of these items unless Members of the Planning Commission request specific items be removed from the Consent Calendar for separate action. CONSENT CALENDAR 1 Minutes RECOMMENDATION: 1.1 Approve the action minutes of March 28, 2012. APPROVED 5 -0. VOTE REFELCTED UNANIMOUS APPROVAL 2 Minutes RECOMMENDATION: 2.1 Approve the action minutes of April 25, 2012. CONTINUED DUE TO LACK OF QUOROM OF BOARD MEMBERS FROM THE APRIL 25, 2012 MEETING. 1 BOARD BUSINESS 3 Adopt Amended Recognized Obligation Payment Schedules for the periods of January 1, 2012, through December 31, 2012 and July 1, 2012 through December 31, 2012 APPROVED 5 -0. VOTE REFELCTED UNANIMOUS APPROVAL RECOMMENDATION: 3.1 Adopt a resolution entitled: RESOLUTION NO.OB SARDA 12- A RESOLUTION OF THE BOARD OF DIRECTORS OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY APPROVING AN AMENDED RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIODS OF JANUARY 1, 2012 THROUGH JUNE 30, 2012 AND JULY 1, 2012 THROUGH DECEMBER 31, 2012 PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177 AND TAKING CERTAIN ACTIONS IN CONNECTION THEREWITH ADJOURNMENT Next regular meeting: Wednesday, June 13, 2012, 6:30 PM, in the Council Chambers, 41000 Main Street, Temecula, California. John Meyer Chairperson Robert C. Johnson Executive Director /City Manager ATTEST: Susan W. Jones, MMC Agency Secretary /City Clerk 2 THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY AGENDA REPORT TO: Board of Directors of the Oversight Board of the Successor Agency to the Temecula Redevelopment Agency Patrick Richardson, Director Development Services for the Successor Agency FROM: to the Temecula Redevelopment Agency DATE: August 22, 2012 SUBJECT: Review Recognized Obligation Payment Schedules for the periods of January 1, 2013 through June 30, 2013. PREPARED BY: Luke Watson, Senior Planner for the Successor Agency to the Temecula Redevelopment Agency RECOMMENDATION: Receive and File BACKGROUND: 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. The Agency duly adopted its Implementation Plan for 2010 -2014 on December 8, 2009 in accordance with Health and Safety Code Section 33490. ABX1 26 and ABX1 27 were signed by the Governor of California on June 29, 2011, making certain changes to the Redevelopment Law, including adding Part 1.8 (commencing with Section 34161) and Part 1.85 (commencing with Section 34170) ( "Part 1.85 ") to Division 24 of the California Health and Safety Code ( "Health and Safety Code "). The California Redevelopment Association and League of California Cities filed a lawsuit in the Supreme Court of California (California Redevelopment Association, et al. v. Matosantos, et al. (Case No. S194861)) alleging that ABX1 26 and ABX1 27 were unconstitutional. On December 29, 2011, the Supreme Court issued its opinion in the Matosantos case largely upholding ABX1 26, invalidating ABX1 27, and holding that ABX1 26 may be severed from ABX1 27 and enforced independently. The Supreme Court generally revised the effective dates and deadlines for performance of obligations in Part 1.85 arising before May 1, 2012 to take effect four months later. As a result of the Supreme Court's decision, on February 1, 2012, all redevelopment agencies, including the Temecula Redevelopment Agency, were dissolved and replaced by successor agencies established pursuant to Health and Safety Code Section 34173. The City Council of the City of Temecula (the "City ") adopted Resolution No. 12 -02 January 10, 2012, pursuant to Part 1.85 electing for the City to serve as the Successor Agency for the Temecula Redevelopment Agency upon the Agency's dissolution. 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 "). Recognized Obligations Payment Schedules Pursuant to Health and Safety Code Section 34177(1)(2)(B), successor agencies are required to prepare in advance a Recognized Obligation Payment Schedule (BOPS) that is forward looking for six months and covering the periods of January 1, 2013 through June 30, 2013. The BOPS lists all of the Successor Agency's financial obligations. The Successor Agency is required to submit this BOPS to the Oversight Board for approval after the Successor Agency has delivered its approval. After the Oversight Board approves the BOPS the Successor Agency is then required to submit the approved ROPS to the State Department of Finance and the County Auditor Controller no later than September 1, 2012. Staff is requesting that the Board review the Draft BOPS for the period of January 1, 2013 through June 30, 2013 prior to its submission to the Successor Agency for approval. After receiving comments from the Board, staff will then submit the Draft ROPS for approval to the Successor Agency and then bring back the BOPS for the Board's final approval. Preparation of a Recognized Obligation Payment Schedule is in furtherance of allowing the Successor Agency to pay enforceable obligations of the former Redevelopment Agency. FISCAL IMPACT: Adoption of the proposed resolutions will enable the Successor Agency to fulfill its enforceable obligations. In accordance with Health and Safety Code Section 34173(e), the liability of the Successor Agency, acting pursuant to the powers granted under Part 1.85, shall be limited to the extent of, and payable solely from, the total sum of property tax revenues it receives pursuant to Part 1.85 and the value of assets transferred to it as a successor agency for a dissolved redevelopment agency. The debts, assets, liabilities, and obligations of the Successor Agency shall be solely the debts, assets, liabilities, and obligations of the Successor Agency and not of the City. ATTACHMENTS: 2. Exhibit A — DRAFT Recognized Obligations Payment Schedule for the periods of January 1, 2013 through June 30, 2013 SUMMARY OF RECOGNIZED OBLIGATION PAYMENT SCHEDULE Filed for the January 1, 2013 to June 30, 2013 Period Name of Successor Agency: Successor Agency to the Temecula Redevelopment Agency Total Outstanding Debt or Obligation Outstanding Debt or Obligation f 196,025,153 Current Period Outstanding Debt or Obligation Six -Month Total A Available Revenues Other Than Anticipated RPTTF Funding 6,248,847 B Anticipated Enforceable Obligations Funded with RPTTF 4,055,880 C Anticipated Administrative Allowance Funded with RPTTF 125,000 D Total RPTTF Requested B + C = D 4,180,860 Total Current Period Outstanding Debt or Obligation (A + B + C = E) Should be the same amount as BOPS form six -month total $ 10,429,707 E Enter Total Six -Month Anticipated RPTTF Funding (obtain from county auditor-controller) F Variance (E - D = F ) Maximum RPTTF Allowable should not exceed Total Anticipated RPTTF Funding $ ( 4,160,860 Prior Period (January 1, 2012 through June 30, 2012) Estimated vs. Actual Payments (as required in HSC section 34186 (a)) G Enter Estimated Obligations Funded by RPTTF (Should be the lesser of Finance's approved RPTTF amount including admin allowance or the actual amount distributed) 4,055,860 H Enter Actual Obligations Paid with RPTTF 2,438,701 1 Enter Actual Administrative Expenses Paid with RPTTF 125,000 J Adjustment to Redevelopment Obligation Retirement Fund G - H + I = J 1.492.159 K Adjusted RPTTF (The total RPTTF requested shall be adjusted if actual obligations paid with RPTTF are less than the estimated obligation amount.) $ 2,688,701 Certification of Oversight Board Chairman: Pursuant to Section 34177(m) of the Health and Safety code, Name Title I hereby certify that the above is a true and accurate Recognized Obligation Payment Schedule for the above named agency. 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