HomeMy WebLinkAbout13-06 OB SARDA Resolution RESOLUTION NO. OB SARDA 13-06
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 PERIODS OF JANAURY
1, 2014 THROUGH JUNE 30, 2014 PURSUANT TO
HEALTH AND SAFETY CODE SECTION 34177 AND
TAKING CERTAIN ACTIONS IN CONNECTION
THEREWITH
THE BOARD OF DIRECTORS OF THE OVERSIGHT BOARD OF THE
SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY DOES
HEREBY RESOLVE AS FOLLOWS:
Section 1. Recitals. The Board of Directors of the Oversight Board 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. The
Agency duly adopted its Implementation Plan for 2010-2014 on December 8, 2009 in
accordance with Health and Safety Code Section 33490.
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. 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.
D. 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.
E. 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.
F. Accordingly, the Board desires to adopt this Resolution approving the
Recognized Obligation Payment Schedule for the periods of January 1, 2014 through
June 30, 2014 in accordance with Part 1.85.
Section 2. This Resolution is adopted pursuant to Health and Safety Code
Section 34177.
Section 3. The Board hereby approves the Recognized Obligation Payment
Schedule for the periods of January 1, 2014 through June 30, 2014 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 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 inay make requests for review in connection with the ROPS 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. 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
certified Recognized Obligation Payment Schedule to the oversight board for approval,
and any such actions previously taken by such officers are hereby ratified and
confirmed.
Section 6. The Secretary shall certify to the adoption of this Resolution.
PASSED, APPROVED, AND ADOPTED by the Board of Directors of the Oversight
Board of the Successor Agency to the Temecula Redevelopment Agency this 25th day of
September, 2013.
,
i��'�� �,
Gary Thornhill, Vice Chairperson
ATTEST:
Susan . J fies, MM
Boar Secr ary
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
I, Susan W. Jones, MMC, Board Secretary of the Successor Agency to the Temecula
Redevelopment Agency, do hereby certify that the foregoing Resolution No. OB SARDA
13-06 was duly and regularly adopted by the Board Members of the Oversight Board of
the Successor Agency to the Temecula Redevelopment Agency of the City of Temecula at
a meeting thereof held on the 25th day of September, 2014 by the following vote:
AYES: 5 BOARD MEMBERS: Thornhill, Sparkman, Kelliher, Gonzalez
Ordway-Peck
NOES: 0 BOARD MEMBERS:
ABSENT: ? BOARD MEMBERS: Meyer, Turner
ABSTAIN: 0 BOARD MEMBERS:
C�./
Susa W. Jones, MMC
Board Secretary
EXHIBIT A
Recognized Obligation Payment Schedule 13-14B
-4-
R�copnlz�d OWipatlon P�ym�nt ScMdub(ROPS 13-148)-Summary
Flled iw ths January 1,2011 Mirouph June 30,2014 Perbd
N�w d 5uoow�ar Ap�noY: T�awcul�
N�d CouMy: Rfwrside
Cummt P�rlod Rw��Fundinp for Oubtandiny Mbt or Obllprbn sd'MonM Tdal
Enlora�bl�OWipatlom Fund�d wNA Non-R�v�bpm�M Pro�qr T�tc Trwt FuM(RPTTF)Fundlnp
A Soureu(B+C+O): S ��YOY.l71
B 8ond Proceedc Fundlnp(ROPS DetaN) 4,209,871
C Reaerva 8alence Fundlnp(ROPS Deteil) -
0 Otlier Fundiny(ROPS DetaA) '
E Enforcwbl�Oblfpallons FundW wkh RPTTF Fundinp(F+f3): i 4,162,383
F Non-AdmMisVativ�Costs(ROPS DetaM) 4,027.383
G AdmWStrative Coals(ROPS DetaN) 125.000
H Curnnt P�riod Er(o�bN ObIIp�Non�(A+Ep { �.s02.OJ�
Succawr Agency SNf R�port�d Prfor P�rlod Ad}wtmMt to CurtwN hAod RPTTF Raquwbd Funding
I Erdorceabla ObIlpWbns funded wAh RPTTF(E): 4,152.383
J Less Prior Period Adjustmem(Report of Prbr Psrlod Adjuetrnenb Column U) 1 i u5 t»ae1
K AdJusbd CurnM P�r1od RP7TF Rpupt�d Fu�dkq(4J) _ ����677
CouMy Audltor CoMroll�r Raported PrWr P�rlod Ad)u�tm�nl to CumM PKiod RPTTF R�quabd Fu�inp
L Enfaoeabte Oblipeti6ne funded wllh RP1TF(E�: 4��'���
M Lw�rbr Pxbd AdJusMNrn(R�port oi Prbr P�rlod Adlwhns�b Cdumn/19�
N Adlu�t�d Cur�nt PNlod RP1TF R�quwbd FundlnY(�) 4,162�JlS
CertiMatlon o!Oversipht Board Cheirtnan: � Tha�k�ll ✓%tt Chv�i
Pursuant tu Sectlon 34777(m)oi the Flsrlth anE Safety code,I hsroby
cartity that ths above ia a We and acwrete Recopnized Obligatlon �^° Tm°
PaymeM Sc3�edule ror tha above named aperwy. �,yy���ti.�(,r,/ 9—tS TOlS I
�� I
SprWWro �a �
R�copniz�d Oblf�adon PayrrN�N Sch�dub(ROPS)13-118-R�poA of Fund Bdanas
(Rpat Artaunb in WAok Dalkn)
Pureuent W Health and Satety Code sacdon 34177(I),Redevelopmant Properry Tax Trust Fund(RPTTF)mey be lietad as a source of prymsnt on 1M ROPS,but only lo IFro extent no othar fundrp tource is avdlabls w whm psymsnt from prqiaty�rx rsvsnux is roqulred by an
e�orceabls obli uon.
A B C D E F 0 N I J K
Fund Sourc�s
�a�d hoewN R�s�rv�B�Yna Otlw RPiTF
Revisw 6Wrwes
refrnsd for
Bonds Iswed Bords hwed approved RPTTF bdr�oea R�M,
on a before m or altor enforwahk rNak�sd for borW Orams,
Fund Bdr�u Inform�tbn ROP8 P�rlod 12/31H0 01I01/11 doru rwrvse Intarst,Etc. NorFA4min Admin TaW CamwAs
ROPS W Adwb 01/01HS-!/]W13
Bpinninp Avdl�bN Pund Bd�nw(Actwl 01I01H9)
Note that for tha RPTTF,1+p$�Id tie W columns L and Q In tlie
1 Report of Pna Period Ad'ushnsnts(PPAs 3.G88241 12.577.508 1,771.812 14.003 - 1 1Q
R�wnw�noom�(Actud 06f30/13)No4e thal Ihe RPTTF anw�x�fs
should tle to the ROPS III diatributions fran Uie Counry Auditor-
2 Controller 217 751 170.167 3.OE5,203 125,000 {
Exp�ndkuns fw ROPS UI E�orc�aW�Oblip�tlons(Adual
OB/90H3)Nole Nat ta the RPTTF,3+q should tie to columns N
J end S in the R ort of PPAs 1.080,262 2.746.564 125.000 f �951
R�t�Mion oi Awll�bb Fund Bal�ne��Adwl OBf30/13)Note Uw1
tho Non-Admin RPTTF amounf should anly includs tFN rNanGOn of
♦ reserves fa debt service a oved in ROPS III a38.52a t 1�6 S?A
ROPS III RP7TF Prbr Palod AdJu�6ns�A Note tliet the net Non-
Admin and Admin RPTTF amounts should tie b cdumns O and T in No entry tequlreE
5 the Re rt of PPAs. 1,051,648 S 1 051.648
6 Endl Adwl Av�R�W�Fund� t�I-�•1-S i a 0!! i 1 Sfl i • i - i �70 707 t 106,�t2 j 1 I
ROPS 1�-14A EstlmH� 07I01H�•1?f�1N3 I
Bpinnlny Anll�bb Fund Bd�na(Aelutl 07/01M�)(C,D,E,G, I
7 rM1�4+6,F�H1�Fd,andH�6• SYM 7 = n07�1 f ��
R�wnudlncom�(Estlmat�1TJ31N3)
Note tl�at the RPTTF amounta should tie to tl�e ROPS 73-14A �
8 dlsVibutlons from the Coun Auditar-ConVollor 4 027,363 126 000 f 1
Exp�ndkuns fw 13�1U1 E�oraabl�Obllp�tlons
9 EHimM�1?131113 2711.659 754.047 670,000 3,907,209 125,000 � 6/67.915
R�t�ntbn of AwII�bN Fund Bal�nq(EstlmN�77f91N9)
Note that the RPTTF emaunts mey include Ihe retention of reserves
10 For debt xrvfce e D�'�io ROPS 13-14A v3.�a8 i 173,71e
11 Endl 6tlm�Md AqNMN F�nd B�I�a •e-9-10 t 1 �7N 11 10 i 1 i t70 707 f 1
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