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HomeMy WebLinkAbout14-06 SARDA Resolution' RESOLUTION NO. SARDA 14 -06 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD OF JANAURY 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 SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY DOES HEREBY RESOLVE AS FOLLOWS: Section 1. Recitals. The Board of Directors 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 "). SARDA Resos 14 -06 1 ' C. Pursuant to Health and Safety Code Section 34175(b) and the California Supreme Court's decision in California Redevelopment Association, et al. v. Ana Matosantos, et al. (53 CalAth 231(2011)), on February 1, 2012, all assets, properties, contracts, leases, books and records, buildings, and equipment of the former Temecula Redevelopment Agency transferred to the control of the Successor Agency by operation of law. D. Health and Safety Code Section 34177(1), as modified by the California Supreme Court, provides that by October 1, 2013, the Successor Agency must prepare a Recognized Obligation Payment Schedule for the enforceable obligations of the former Redevelopment Agency, in accordance with the requirements of paragraph (1). The draft schedule must be reviewed and certified, as to its accuracy, by an external auditor designated at the county auditor - controller's direction pursuant to Health and Safety Code Section 34182. The certified Recognized Obligation Payment Schedule must be submitted to and approved by the Oversight Board. Finally, after approval by the Oversight Board, a copy of the approved Recognized Obligation Payment Schedule must be submitted to the County Auditor - Controller, the State Controller and the State Department of Finance ( "DOF "), and be posted on the Successor Agency's web site. E. Accordingly, the Board desires to adopt this Resolution approving the Recognized Obligation Payment Schedule for the period 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 period 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. Staff is hereby authorized and directed to post a copy of the Oversight Board - approved ROPS on the Successor Agency's Internet Website (being a page on the Internet website of the City of Temecula). Section 6. 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 SARDA Resos 14 -06 2 Recognized Obligation Payment Schedule to the oversight board for approval and requesting additional review by the DOF and an opportunity to meet and confer on any disputed items, and any such actions previously taken by such officers are hereby ratified and confirmed. Section 7. The Secretary shall certify to the adoption of this Resolution. PASSED, APPROVED, AND ADOPTED by the Board of Directors of the Successor Agency to the Temecula Redevelopment Agency this 23`d day of September, 2014. ATTEST: ' RaAl+�I Ison, JD, MMC City Clerk/Board Secretary [SEAL] SARDA Resos 14 -06 3 ann Edwards, Chairperson ' STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss CITY OF TEMECULA ) I, Randi Johl - Olson, JD, MMC, City Clerk/Board Secretary of the Successor Agency to the Temecula Redevelopment Agency, do hereby certify that the foregoing Resolution No. SARDA 14 -06 was duly and regularly adopted by the Board Members 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, 2014, by the following vote: AYES: 4 BOARD MEMBERS: Comerchero, Naggar, Washington, Edwards NOES: 0 BOARD MEMBERS: None ABSENT: 1 BOARD MEMBERS: Roberts ABSTAIN: 0 BOARD MEMBERS: None ' andi Johl- Olson, JD, MMC City Clerk / Board Secretary SARDA Resos 14 -06 4 0 EXHIBIT A Recognized Obligations Payment Schedule for the period January 1, 2015 through June 30, 2015 (ROPS 14 -15B) M M Recognized Obligation Payment Schedule (ROPS 14 -15B) - Summary Filed for the January 1, 2015 through June 30, 2015 Period Name of Successor Agency: Temecula Name of County: Riverside Current Period Requested Funding for Outstanding Debt or Obligation SIx -Month 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 Detail) M Less Prior Period Adjustment (Report of Prior Period Adjustments Column AA) - C Reserve Balance Funding (ROPS Detail) Certification of Oversight Board Chairman: 97,704 D Other Funding (BOPS Detail) hereby certify that the above is a ve and accurate Recognized Name - E Enforceable Obligations Funded with RPTTF Funding (F1G): $ 4,125,938 F Non - Administrative Casts (ROPS Detail) 4,000,638 G Administrative Costs CROPS Detail) 125,000 H Current Period Enforceable Obligations (ASE): S 4,223,342 Successor Agency Self - Reported Prior Period Adjusbnent to Current Period RPTTF Requested Funding I Enforceable Obligations funded with RPTTF (E): 4,125,638 J Less Prior Period Adjustment (Report of Prior Period Adjustments Column S) N Adjusted Current Period RPTTF Requested Funding (IJ) 5 4,125,638 County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding L Enforceable Obligations funded with RPTTF (E): 4,125,638 M Less Prior Period Adjustment (Report of Prior Period Adjustments Column AA) N Adjusted Current Period RPTTF Requested Funding (1-411) 4,125,638 Certification of Oversight Board Chairman: Pursuant to Section 34177 (m) of the Health and Safety code, I hereby certify that the above is a ve and accurate Recognized Name Title Obligation Payment Schedule for the above named agency. lsl Signature Date M m m m aai,vlbtle ougwul v.5m.m wrear Plops u10) - ROPS a" .3•Na+]r 1, mte u]tllyt Jt.t. m, mte IN�PnI Anpbb n W1YIr aYI91 A e c 0 e F a N 1 3 B L a B 0 • • !r Ilwrpapl T cwwwyAy....rt EvaeaW csard.5oartla Twnlylm pyr • Tar r Wiu xw.w.sMyn.N ha•.rt> Tr )rrw r W e•r3r ewq heFtly B1aww Mlru F 1rn II]Y VX I AMOF OPA OPAS]M.Cwavudi 11111101 2vt}1M11 IWOp Vnyv YTav Mv.Aumnan Np 1.IN! 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N n N M M Recognized Obligation Payment Schedule (ROPS 14-1513). Report of Cash Balances (Report Amounts in Whole Dollars) 0 Pursuant to Health and Safety Cade section 34177 (I), 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 httos://rad.dof.ca.gov/rad- sa /odf /Cash Balance Aeeng Tlas She et.odf. A 8 C D E F G H I Fund Sources Bond Proceeds Reserve Balance Other RPTTF Prior ROPS Prior ROPS period balances RPTTF Bonds Issued Bonds Issued and DDR RPTTF distributed as Rum, Non-Atlmin on or before on or after balance, reserve for Grants, antl Cash Balance Information by ROPS Period 12/31/10 01101/11 retained future riod s InteruL Etc. Admin Comment, ROPS 13-148 Actuate 01101114 - 06130114 1 Beginning Available Cash Balance (Actual 01 /01114) 7,986.431 8,578931 879.494 J331.564 2 Revenue/Income(Actual 06130114) RPTTF amounts should tie to the ROPS 13 -148 distribution from the County Auditor - Controller during January 2014 211 430 3.255 2,728.543 3 Expenditures for ROPS 13 -148 Enforceable Obligations (Actual 06130/14) RPTTF amounts, H3 plus H4 should equal total reported actual expenditures In the Report of PPA, Columns l and O 69 1,242 882,749 1,609,634 4 Retention of Available Cash Balance (Actual 06130114) RPTTF amount retained should only include the amounts distributed for debt service reserve(s) approved in ROPS 13-14B 901,994 5 ROPE 13 -14B RPTTF Prior Period Adjustment RPTTF amount should tie to the self - reported ROPS 13-14B PPA in the No entry required Report of PPA, Column S 6 Ending Actual Available Cash Balance C to G- (1+2- 3- 4),H= (1+2- 3 -4 -5) 7,988,573 8,578119 118649 ROPS 14- 15AEstlmate (07/01114- 12131IM41 7 Beginning Available Cash Balance (Actual 07101/14) (C,D, E,G =4+6, F= H4+F4 +F6, and H =5 +6) 7,986,573 8,376,119 901,994 116,649 8 Revenue/Income (Estimate 12131114) RPTTF amounts should tie to the ROPS 14 -15A distribulan from the County Auditor - Controller during June 2014 3.597.344 9 Expenditures for ROPS 14-1 6A Enforceable Obligations (Estimate 12131114) 901.994 3.125,580 10 Retention of Available Cash Balance (Estimate 12131114) RPTTF amount retained should only include the amount distributed for debt service reaerve(s) approved in ROPS 14 -15A 11 Ending Estimated Available Cash Balance (7 +8.9.10) 7,986,573 0,578,119 355,115 soonssa ©aa ©oo ©000000