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Home My WebLink About14-05 OB SARDA ResolutionRESOLUTION NO. OB SARDA 14 -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 PERIODS OF JANUARY 1, 2015 THROUGH JUNE 30, 2015 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, 2015 through June 30, 2015 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, 2015 through June 30, 2015 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 may 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 1st day of October, 2014. Z—V � 4- Gary Thornhill, Chairperson ATT Ran i SoN--016on, JD, MMC Board Secretary STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss CITY OF TEMECULA ) I, Randi Johl- Olsan, JD, MMC, Board Secretary of the Successor Agency to the Temecula Redevelopment Agency, do hereby certify that the foregoing Resolution No. OB SARDA 14- 05was 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 15` day of October, 2014 by the following vote: AYES: 4 BOARD MEMBERS: Thornhill, Meyer, Kelliher, Gonzalez NOES: 0 BOARD MEMBERS: none ABSENT: 3 BOARD MEMBERS: Ordway -Peck, Sparkman, Turner ABSTAIN: 0 BOARD MEMBERS: none Randi son, JD, MMC Board Secretary Exhibit A Recognized Obligation Payment Schedule for the period of January 1, 2015 through June 30, 2015 (ROPS 14 -15B) Recognized Obligation Payment Schedule (ROPS 74158) - Summary Fled for the January 1, 2015 through June 30, 2015 Period Name of Successor Agency: Temecula Name of County: Riverside Cumerd Period Requested Funding for Outstanding Debt or Obligation Slxaeordh Total I Enforceable Obligations funded with RPTTF (E): Enforceable Obligations Funded with Non-Redevelopment Property Tax Trust Fund ( RPTTF) Funding J Less Prior Period Adjustment (Report of Prior Period Adjustments Column S) A Sources(B +C+D): $ 97,704 B Bond Proceeds Funding (ROPS Debi M Less Prior Period Adjustment (Rayon of Prior Period Adjustments Column AA) - C Reserve Balance Funding (ROPS Detail) Cenification of Oversight Board Chairman: 97,704 D Other Funding (ROPS DetaO) hereby certify that the above is a true and accurate Recognized Name - E Enforceable Obligations Funded with RPTTF Funding (F+G): It 4,125,639 F Non - Administrative Costs (ROPS Detail) 4,090,639 G Administrative Casts (ROPS Detail) 125,000 N Current Period Enforceable Obligations (A +E): S 4,223,342 Successor Agency Self- Reported Prior Period Adjustment to Current Period RPTTF Requested Funding I Enforceable Obligations funded with RPTTF (E): 4,125.535 J Less Prior Period Adjustment (Report of Prior Period Adjustments Column S) N Adjusted Current Period RPTTF Requested Funding (W) S 4,125,538 County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding L Enforceable Obligations funded with RPTTF (E): 4,125,835 M Less Prior Period Adjustment (Rayon of Prior Period Adjustments Column AA) N Adjusted Current Period RPTTF Requested Funding (L-M) 4,125,638 Cenification of Oversight Board Chairman: Pursuant to Section 34177 (m) of the Health and Safety code, I hereby certify that the above is a true and accurate Recognized Name Title Obligation Payment Schedule for the above named agency. /s! Signature Date - v a k $ z i 9 pR 5 a 'e s E 4 f 3 f f f f 3 f 4 f f f 4 f 11111 HIM l f a HIMg g 4 p ? r p � @ �+ $ S SSSii3Y[ a a w g a r « 5 Qg « «a g gg¢ $ � yga B �o8�Eo8o8o` fr Jill 6_8_� $S$fim $fi8$3 aofi1• $S€ a : 5 L �k[ Qg Qg Jg €g€ } Nil R Recognized Obligation Payment Schedule (ROPE 14158) - Report of Cash Balances (Report Amounts to Whole Dismal Pursuant to Health and Safety Code section 34177 (11, Redevelopment Property Tax Trust Fund ( RPTTF) may be listed as a source of payment on the POPS, but only to the extent no other funding source is available or when payment from property tax revenues Is required by an enforceable obligation. For tips on how to complete the Report of Cash Balances Form, see htt s, rad. dot ta Aov /rad jj /l Cash Balance Agency lips Sheet pull. A B C D E F I G H I Fund tourTas Bond Proceeds Reserve Belanas other RPTTF _ _ Prior ROPE Prior ROPS Period baance, RPTTF Bonds leausd F and DDR RPTTF dhMbuted a• Rent, NorvAdmin on or fwe balance, reeve for Grasse, and Cash {alerts• Information b POPS Period 1LI10 rNY fulun • it"—. Eti. Admin Cameras ROPS 13-148 ACluals 0 /101114 - 06130M) 1 Beginning Available Cash Balance (Actual 01101114) 7.986.431 8,578.931 879.404 331.584 2 Revenuellrlcome (Acted 0~4) RPTTF amwms should W to die ROPS 13.148 distribution from the County Auditor- COr•rosm during January 2014 211 430 3.255 2126.513 3 Expenditures for ROPE 13-143 Enforceable Obtigerioas (Actual 06130114) RPTTF amounts, H3 plus FH should equal total reported actual expenditures In me Report of PPA, Columns L and O 69 1 242 HH2..'49 1.609.6'14 4 Retention of Avdleble Cash Salence (Actual W301141 RPTTF amount relallled should only intlude the amounts distributed M debt service neserve(s) approved in ROPS 11148 90+ YW 8 POPS 13.148 RPM Prior Pee adjustment RPTTF amount should be b the sail- repined POPS 13-148 PPA In tte 040 entry reoulrea Repo" of PPM. Column S 6 Ending Actual Available Cash Balrsas C to Ga(1 e2 -3 -4), H•(1.2- -0 -4 -5) 7 $73 lle I 11 0p RODS 14-15A Ea6nute 07101/14 - 1213114 7 Beginning Available Cash Belat (Messed 9700114) (C, D, E, G•4+ 6, F•fle• F4 - F0. and H e 6 +a) I $73 kull,116 ee1,eas - 11 6 Reven"Incoms (Estimate 12131114) RPTTF amounts should to to the ROPS 14 -ISA disbi0ulpn from the County Audllor- Controller during June 2014 3.597.344 2 Expendllunis for ROPS 14-15A Enforceable Obligations (Estlmde 12731114) 401994 3.125,580 10 Retention of AveO•ble Cash Balance (Estimate 12131114) RPTTF amount retained show only Include me amount dlslnbuhed for debt service reaerve(5) appmved Io ROPS 14 -15A 11 Endbsg Estimated Available Cash Balance (7 * 8.9 .10) 7,NG,5731 6 6761111 336116 1111111111111111111 HIM I