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HomeMy WebLinkAbout15-01 OB SARDA ResolutionRESOLUTION NO. OB SARDA 15 -01 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 JULY 1, 2015 THROUGH DECEMBER 31, 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 July 1, 2015 through December 31, 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 July 1, 2015 through December 31, 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 25th day of February, 2015. fps �° " ✓�ui Gary Thornhill, Chairperson ATT Z Randi Jo - Ison, City Clerk/Secretary STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss CITY OF TEMECULA ) I, Randi Johl - Olson, Board Secretary of the Successor Agency to the Temecula Redevelopment Agency, do hereby certify that the foregoing Resolution No. OB SARDA 15 -01 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 February, 2015 by the following vote: AYES: 4 BOARD MEMBERS: Thornhill, Meyer, Gonzalez, Kelliher NOES: 0 BOARD MEMBERS: None ABSENT: 3 BOARD MEMBERS: Ordway -Peck, Sparkman, Turner ABSTAIN: 0 BOARD MEMBERS: No Rand Jo - son, City Clerk /Secretary Exhibit A Recognized Obligation Payment Schedule for the period of July 1, 2015 through December 31, 2015 (ROPS 15 -16A) Recognized Obligation Payment Schedule (ROPS 15.16A) - Summary Filed for the July 1, 2015 through December 31, 2015 Period Name of Successor Agency: Name of County: Current Period Requested Funding for Outstanding Debt or Obligation Six -Month Total Enforceable Obligations Funded with Non - Redevelopment Property Tex Trust Fund ( RPTTF) Funding A Sources(B+C +D): $ 336,665 B Bond Proceeds Funding (ROPS Detail) - - C Reserve Balance Funding (ROPS Detail) 336,666 D Other Funding (BOPS Detail) - E Enforceable Obligations Funded with RPTTF Funding (F+G): $ 3,823,502 F Non - Administrative Costs (BOPS Detail) 3,788,502 G Administrative Costs CROPS Detail) 125,000 H Current Period Enforceable Obligations (A+E): S 4,260,166 Successor Agency Self- Reported Prior Period Adjustment to Current Period RPTTF Requested Funding I Enforceable Obligations funded with RPTTF (E)'. 3,923,502 J Less Pnor Period Adjustment (Report of Prior Period Adjustments Column S) (185,499) K Adjusted Current Period RPTTF Requested Funding (1 -J) $ 3,738,003 County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding L Enforceable Obligations funded with RPTTF (E): 3,923,502 M Less Prior Period Adjustment (Report of Prior Period Adjustments Column AA) - N Adjusted Current Period RPTTF Requested Funding (L -M) 3,923,602 Certification 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 Obligation Payment Schedule for the above named agency. lal Name Signature Title Date R..FTNS OONw. 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Nw.. b Fu Nibwb nl Ktiv�IN. NC17 t),}JS.W N 905,000 Will 0%,115 SNOSTASSM OFYN1v13p Bwu 5 NewEMw B.br. 13131110 IViWW )IMINJS USSNY N.INIw Bm0. 4wi.b FvN wbpmnl Klw... Nat -103 1,)1)025 N I33.G3, S 131,030 p )IU)TAS FV ?JI)1134NSYVU B ... EPew W.I 1231110 1W7=07 ?WW3) USSSM.TruNe.M KM. W.. b F. KImiIN. Na1 -1015 35.014.3N N h15.AV S MS,LSi 10MIOIO.vrp TABS.M.ASBFY N13113U.BISptx. Y B sluWOnw B.I4I,.Ib31110 WNMIO 731R USBVY•FT.W PoIWrb. BaM. h.u.IO F" AXwp.N. Mouu Na1-1060 38.DNAM N >II @0 )]1AB0 112511 NBUWp TAS FI.:Y Yw ip1y1J O.M 5.Mw .. bNil.wM NNr 1231110 WmIll ](31/2541 USB.HYTry w B.nE. UUr.. b Fur AXyyN. Wuu Nat -t OSi 35.2511 N )5)259 { )5),253 14RmwW.P "O.rFp A fWAr➢O.LCwYr1C1)Y[Y]N) )*OWIG F. CO, Lwn br PUgk PxYMN Wr.P Nat -1065 N, N f 1 PreN�IwW 3.rww Apwmn Prd...O.W Srty 37311011 1S Embwwrw &arse AiwcuN. J.MnOn [cmEw w,IAC pn EIR NCI -1065 N 0 1 PrrMbM Aywrwil Rgp.IpW S.. w 2121011 1S M w iq SO w MI.—C Sw R. 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RM.NmY Se ws 3111M11 15 NWb MrwpSCwQn MNrfw Larlw SwcYU1W M1.1085 19.025 N i UrNOO ORMt10UCw..uo VI V2002 v1P1A31 YYOw pcwnylu Rpn�puNM Na 1.1006 35555 N N 1 1 1 1 1 N S Recognized Obligation Payment Schedule (ROPS 15.16A) • Report of Cash Balances (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. For tips on how to complete the Report of Cash Balances Form, see httosI/rad.dof.caeov/rad- s df Cash Balance Agency Ti s Sheet.odf - A B C D E F G X 1 Fund Sources Bond Proceeds Reasons Baisncs Other RPTTF Prior ROPS Prior ROPS Period balances iq rF Bonds Issued on and DDR RPTTF dotribuled as Rent, Non -Admin or before Bonds Issued on balances reseve for future Orents, ale Cash Balance Irdom alon by ROPE Period 12/31/10 or after 01101/11 retained DO nods Irneresl, Ek. Admin comrwss ROPE 14-15A Actuala U/01 /14 - 1]/31114 1 Beginning Available Cash Balancs(Mual 07101H4) 7,086573 6,578.110 901,904 3,400,95 2 RevenueRrrcoms (Actual 12A711I) RPTTF amounts should he to the ROPS 14 15A distribution from the County AuditorLanVoller during June 2014 242 1,535 3.134 3 Expenditures for BOPS 14-15A Enforceable Obligations (Actual 12131/14) RPTTF amounts. H3 pus H4 should equal total reposed actual expenditures in the Report of PPA. Columns L and O 55 6fi 1 901 9rY1 3884,938 4 Retention of Available Cash Balance (Actual 1]131 /14) RPTTF amount retained! should only indude the amouras distributed as reserve for future perlod(s) 5 ROPS /4-16A RPTTF Prior Period Adjustment RPTT F amount should be to the self- reported ROPS 14 -15A PPA in the No entry required Report of PPA, Column S 05 490 6 Ending Meal Avaiable Cash Balance C toG•11 +2- 3- 4j•H= (1 +2- 3 -4.5) 8 7,986730 a 6679586 8 - 8 - 6 IfiII34 6 360.740 ROPE 14158 Estimate 01101116 - 01130/15 7 Boglnnep Avallabls Cash Bid r (Aotwl 01/0111 S) (C,D,E,G•4 +6,F= H4 +F4 +F6,"H =5+81 6 719661730 6 6.579.566 6 - $ - 6 134 6 204241 6 Revenw'Income(Estimate 06130115) RPTTF amounts should be to the ROPS /4 -15B distribution from IM County Audnor- Controller during January 2015 2,912,526 9 Expenditures for ROPE 14.159 Enforceable Obligations (Estimate M30/1 5) 2,437,502 10 Retortion of Available Cash Balance (Estimate (16130116) RPTTF amount reendrd should only include the amounts distributed as re34rv4 for future periods) 336.666 11 Ending Estimated Available Cash Balance (7+6.9.10) 6 7,986,730 6 8,5791566 6 6 6 3.1341 i W RecopIW0 Obligation PaynNnI8CM0ule IROP511i- Flab. of Prld ParIW AgwhnellLL RgMef la Me ROM 14-IM (July I,2014VAAA,h pecempx 91, M14)Pero]PuBWMgXWIIIeM Sayy,C (RSC)swim 3e180(a) 0.elon Amounts M Whole Odbrs) ROP8 14-1. 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