HomeMy WebLinkAbout15-02 OB SARDA Resolution1:7 *IQ 11 111 If] •] ► I . [ • a• ] : �9_l :0 •LTi 16715 r M
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, 2016 THROUGH JUNE 30, 2016 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 ( Califomia 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, 2016 through
June 30, 2016 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, 2016 through June 30, 2016 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 23rd day of
September, 2015.
a
Gary Thornhill, Chairperson
ATTEST:
Randi Jo - son
Board 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 -02 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 23rd day of September, 2015 by the following vote:
AYES:
4
BOARD MEMBERS:
Elam, Kelliher, Meyer, Thornhill
NOES:
0
BOARD MEMBERS:
vona
ABSENT:
3
BOARD MEMBERS:
Gonzalez, Ordway -Peck, Turner
ABSTAIN: G BOARD MEMBERS: No
Randi Johl -Olson
Board Secretary
IMITLOT F-.1
Recognized Obligation Payment Schedule for the period of
January 1, 2016 through June 30, 2016 (ROPS 15 -1613)
Recognized Obligation Payment Schedule (ROPS 15.166) - Summary
Filed for the January 1, 2016 through June 30, 2016 Period
Name of Successor Agency: Temecula
Name of County: Riverside
Current Period Requested Funding for Outstanding Debtor Obligation
Six -Month Total
Enforceable Obligations Funded with Non- Redevalopmant Property Tax Trust Fund (RPTTF) Funding
A
Sources(B +C +D):
E
B
Bond Proceeds Funding (BOPS Detail)
C
Reserve Balance Funding (ROPS Detail)
-
D
Omer Funding CROPS Detail)
-
E
Enforceable Obligations Funded with RPTTF Funding (F +G):
$ 4,003,631
F
Non - Administrative Costs (ROPS Detail)
3,878,631
G
Administrative Costs (ROPS Detail)
125,000
N
Total Current Period Enforceable Obligations (A +E):
E 4,003,631
Successor Agency SeN- Reported Prior Period Adjustment to Current Period RPTTF Requested Funding _
I Enforceable Obligations funded with RPTTF (E): 4,003,631
J Less Prior Period Adjustment (Report of Prior Period Adjustments Column S) (345,930)
K Adjusted Current Period RPTTF Requested Funding (Ii E 3,837,701
County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding
L Enforceable Obligations funded with RPTTF (E): 4,003,631
M Less Prior Period Adjustment (Report of Prior Period Adjustments Column AA) -
N Adjusted Current Period RPTTF Requested Funding(L -M) 4,003,631
Certification of Oversight Board Chairman:
Pursuant to Section 34177 (m) of the Health and Safety code, I
hereby candy that the above is a true and accurate Recognized
Obligation Payment Schedule for the above named agency, js/
Name
Signature
Tice
Date
Temecula Recognized Obligation Payment Schedule (BOPS 15 -16B) - ROPS Detail
January 1, 2016 through June 30, 2016
(Repa1 Amounts in Whole Dollam)
A
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0
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1.663.973
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13.530
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Temecula Recognized Obligation Payment Schedule (ROPS 15 -168) - 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 BOPS, 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 RePon of Cash Balances Form, see Cash Balance Tips Sheet
A
B
c
0
E
F
G
14
1
Fund Sources
Bond Proceeds
Reserve Bounce,
Other
RPTTF
Prior ROPS
Prior ROPS
Period balances
RPTTF
Bonds Issued on
and DDR RPTTF
dutntboM as
Rom
Non -Admin
or before
Balls Issued on
balances
reserve for future
Grants.
and
Cash Balance Information by RODS Period
12131110
or star 01101111
retained
pernodfal
Interest, Etc
Admtn
comments
ROPS1e- 15BMUets 01101/15- 06136115
1
Beginning Available Cash Blanc (Actual 01101115)
7,906,730
8579.566
3.134
(204.241)
2
Revenuefincome (Actual 06 OMS)
RPTTF amounts should tie Io the ROPS 14 -158 distribution from the
CquMy Auditor-Controller during Jarwary 2015
242
363
161,433
2,012,525
3
Expenditures for BOPS 14-158 Enforceable Obligations (Mel
06136115)
RPTTF amounts. H3 plus H4 Would equal total reported actual
expenditures in 1M Report of PPA. Columns L ari0 O
-
2.566,595
4
Retention of Available Cash BMW" (Mel 06130115)
RPTTF amount retailed stlwld only include the amounts distributed as
reserve for future perbd(s)
310.000
6
ROPS 14-158 RPTTF Prior Period Adjustment
RPTTF amount should se to the sed- repaned ROPS 14 -158 PPA in the
No entry eu��ren
Report of PPA. Column S
345.930
6
Ending actual Available Cash Balance
C to G•(1-2.3 -4), H•(I+2.3 -4 -6)
f 7, 901
5 6,579,76]
s -
5
S 1"M7
6 llIU411
ROPS 15.16A Estimate (07101115 - 12/31113
7
Beginning Available Cash Bearlce (Mua19T101HS)
(C, D, E, G-4.6, F- He - F4 a F6 and H - 5a 6)
6 7"6901
s 8.579,793
S -
$ 310000
S 1 WT
S 1M H
6
Reveswllricaes ( Estmate 12131115)
RPTTF amounts sl id tie to hie ROPS 15-16A distributan from the
County Audaa- Controller during June 2015
3.734,003
9
Expenditures for ROPS 15-16A Enforceable Obtlpanons (Estimate
12131115)
310 000
3- 597.344
10
Rebmlon of Available Cash Balence (ESlimaN 12131116)
RPTTF amount finance should only include, 611 amounts distributed as
reserve for ware pWoc ls)
11
Endi g EstOnated Avails al Cash Balance (7. 6 - 9.10)
s 7,086,901
S 9,579,783
6 -
S -
5 161367
i 31662
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