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HomeMy WebLinkAbout092315 OB SARDA AgendaIn compliance with the Americans with Disabilities Act, if you need special assistance to participate in this meeting, please contact the office of the City Clerk (951) 694 -6444. Notification 48 hours prior to a meeting will enable the City to make reasonable arrangements to ensure accessibility to that meeting [28 CFR 35.102.35.104 ADA Title II]. MEETING NOTICE /AGENDA OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY REGULAR MEETING COUNCIL CHAMBERS 41000 MAIN STREET TEMECULA, CALIFORNIA SEPTEMBER 23, 2015 — 6:30 PM Next in Order: Resolution: 15 -02 CALL TO ORDER: Gary Thornhill, Chairperson Roll Call: Thornhill, Meyer, Gonzalez, Kelliher, Ordway -Peck, Elam, Turner PUBLIC COMMENTS A total of 15 minutes is provided so members of the public may address the Board on items that are not listed on the Agenda. Speakers are limited to three minutes each. If you desire to speak to the Board about an item not on the Agenda, a salmon colored "Request to Speak" form should be filled out and filed with the Board Secretary. When you are called to speak, please come forward and state your name for the record. For all other agenda items a "Request to Speak" form must be filed with the Board Secretary prior to the Board addressing that item. There is a three - minute time limit for individual speakers. NOTICE TO THE PUBLIC All matters listed under Consent Calendar are considered to be routine and all will be enacted by one roll call vote. There will be no discussion of these items unless Members of the Oversight Board request specific items be removed from the Consent Calendar for separate action. CONSENT CALENDAR 1 Minutes RECOMMENDATION: 1.1 Approve the Minutes of February 25, 2015 1.2 Approve the Minutes of June 24, 2015 1.3 Approve the Minutes of July 22, 2015 1 :$ -C9 .7 2 Approve Recognized Obligation Payment Schedule for the Period January 1. 2016 through June 30, 2016 (ROPS 15 -16B) RECOMMENDATION: 2.1 Adopt a resolution entitled: RESOLUTION NO. OB SARDA 15- 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 PERIOD OF JANUARY 1, 2016 THROUGH JUNE 30, 2016 PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177 AND TAKING CERTAIN ACTIONS IN CONNECTION THEREWITH ADJOURNMENT Next regular meeting: Wednesday, October 14, 2015, 6:30 PM, Council Chambers, 41000 Main Street, Temecula, California. Date Randi J -Olso , Board Secretary NOTICE TO THE PUBLIC: The Agenda will be available for viewing, prior to the meeting, at the Main Reception at City Hall - 41000 Main Street, Temecula, 8:00 - 5:00 PM as well as on the City's website - www.citvoftemerula.org. Any staff report/written material pertaining to this meeting will be available, prior to the meeting, for public review at the Main Reception and at the respective meeting. Any Supplemental Material distributed to a majority of the Committee Members regarding any item on the Agenda, after the posting of the Agenda, will be available for public review at the Main Reception. In addition, such material will be made available for review at the respective meeting. If you have any questions regarding any item of business on the Agenda for this meeting, please contact City Hall - 951- 694 -6444. 2 ACTION MINUTES OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY REGULAR MEETING COUNCIL CHAMBERS CONFERENCE ROOM 41000 MAIN STREET TEMECULA, CALIFORNIA FEBRUARY 25, 2015 — 6:30 PM Next in Order: Resolution: 15 -01 CALL TO ORDER: Gary Thornhill, Chairperson Roll Call: Thornhill, Meyer, Gonzalez, Kelliher ABSENT: Ordway -Peck, Sparkman, Turner PUBLIC COMMENTS NO SPEAKERS. NOTICE TO THE PUBLIC All matters listed under Consent Calendar are considered to be routine and all will be enacted by one roll call vote. There will be no discussion of these items unless Members of the Oversight Board request specific items be removed from the Consent Calendar for separate action. CONSENT CALENDAR 1 Minutes RECOMMENDATION: 1.1 Approve the Minutes of September 25, 2013. APPROVED BY A 4 -0 -3 VOTE. 1.2 Approve the Minutes of December 11, 2013. APPROVED BY A 4 -0 -3 VOTE. 1.3 Approve the Minutes of October 1, 2014. APPROVED BY A 4 -0 -3 VOTE. BOARD BUSINESS 2 Adopt Recognized Obligation Payment Schedules for the period of July 1, 2015 through December 31, 2015. (ROPS 15 -16A). APPROVED BY A 4 -0 -3 VOTE. RECOMMENDATION: 2.1 Adopt a resolution entitled: RESOLUTION 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 ADJOURNMENT Next regular meeting: Wednesday, March 11, 2015 6:30 PM, Council Chambers, 41000 Main Street, Temecula, California. ATTEST: Randi Johl - Olson, City Clerk/Secretary Gary Thornhill Chairperson Aaron Adams Executive Director ACTION MINUTES OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY REGULAR MEETING COUNCIL CHAMBERS 41000 MAIN STREET TEMECULA, CALIFORNIA JUNE 24, 2015 — 6:30 PM Next in Order: Resolution: 15 -02 CALL TO ORDER: Roll Call: Thornhill, Meyer, Gonzalez ABSENT: Kelliher, Ordway -Peck, Sparkman, Turner PUBLIC COMMENTS No comments. NOTICE TO THE PUBLIC All matters listed under Consent Calendar are considered to be routine and all will be enacted by one roll call vote. There will be no discussion of these items unless Members of the Oversight Board request specific items be removed from the Consent Calendar for separate action. CONSENT CALENDAR Meeting was not held due to lack of quorum. BOARD BUSINESS ADJOURNMENT Next regular meeting: Wednesday, July 8, 2015 6:30 PM, Council Chambers, 41000 Main Street, Temecula, California. Gary Thornhill Chairperson Aaron Adams Executive Director ATTEST: Randi Johl - Olson, City Clerk/Secretary ACTION MINUTES OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY REGULAR MEETING COUNCIL CHAMBERS 41000 MAIN STREET TEMECULA, CALIFORNIA JULY 22, 2015 — 6:30 PM CALL TO ORDER: Roll Call: ABSENT: PUBLIC COMMENTS No comments. NOTICE TO THE PUBLIC Gonzalez, Kelliher, Sparkman Meyer, Ordway -Peck, Thornhill, Turner Next in Order: Resolution: 15 -02 All matters listed under Consent Calendar are considered to be routine and all will be enacted by one roll call vote. There will be no discussion of these items unless Members of the Oversight Board request specific items be removed from the Consent Calendar for separate action. CONSENT CALENDAR Meeting was not held due to lack of quorum. BOARD BUSINESS ADJOURNMENT Next regular meeting: Wednesday, August 12 Street, Temecula, California. ATTEST: Randi Johl- Olson, City Clerk/Secretary 2015 6:30 PM, Council Chambers, 41000 Main Gary Thornhill Chairperson Aaron Adams Executive Director ITEM 2 THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY AGENDA REPORT TO: Board of Directors of the Oversight Board of the Successor Agency to the Temecula Redevelopment Agency Luke Watson, Interim Director of Community Development for the Successor FROM: Agency to the Temecula Redevelopment Agency DATE: September 23, 2015 SUBJECT: Recognized Obligation Payment Schedules for the period of January 1, 2016 through June 30, 2016. (ROPS 15 -16B) RECOMMENDATION: Adopt a resolution entitled RESOLUTION NO. OB SARDA 15- 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 BACKGROUND: Pursuant to Health and Safety Code Section 34177(1)(2)(B), successor agencies are required to prepare a Recognized Obligation Payment Schedule (ROPS) that is forward looking for six months, covering the periods of January 1, 2016 through June 30, 2016. The ROPS lists all of the Successor Agency's financial obligations. The Successor Agency is required to submit this ROPS to the Oversight Board for approval after the Successor Agency has approved the ROPS in a public meeting. After the Oversight Board approves the ROPS, the Successor Agency is then required to submit the approved ROPS to the State Department of Finance, the County Auditor Controller, and to the State Controller no later than October 1, 2015. Preparation of a Recognized Obligation Payment Schedule is in furtherance of allowing the Successor Agency to pay enforceable obligations of the former Redevelopment Agency. FISCAL IMPACT: Adoption of the proposed resolutions will enable the Successor Agency to fulfill its enforceable obligations. In accordance with Health and Safety Code Section 34173(e), the liability of the Successor Agency, acting pursuant to the powers granted under Part 1.85, shall be limited to the extent of, and payable solely from, the total sum of property tax revenues it receives pursuant to Part 1.85 and the value of assets transferred to it as a successor agency for a dissolved redevelopment agency. The debts, assets, liabilities, and obligations of the Successor Agency shall be solely the debts, assets, liabilities, and obligations of the Successor Agency and not of the City. ATTACHMENTS: 1. Resolution No. OB SARDA 15- 2. Exhibit A — Draft Recognized Obligations Payment Schedule for the periods of January 1, 2016 through June 30, 2016 RESOLUTION NO. OB SARDA 15 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 (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, 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 23`d day of September, 2015. Gary Thornhill, Chairperson ATTEST: Randi Johl -Olson 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 -- 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: BOARD MEMBERS: NOES: BOARD MEMBERS: ABSENT: BOARD MEMBERS: ABSTAIN: BOARD MEMBERS: Randi Johl -Olson Board Secretary Exhibit A Recognized Obligation Payment Schedule for the period of January 1, 2016 through June 30, 2016 (ROPS 15 -166) Name of Successor Agency: Temecula Name of County: Riverside Current Period Requested Funding for Outstanding Debt or Obligation Six -Month Total Enforceable Obligations Funded with Non - Redevelopment Property Tax Trust Fund ( RPTTF) Funding A Sources (B +C +D): $ B Bond Proceeds Funding (ROPS Detail) C Reserve Balance Funding (ROPS Detail) D Other Funding (ROPS Detail) E Enforceable Obligations Funded with RPTTF Funding (F +G): F Non - Administrative Costs (ROPS Detail) G Administrative Costs (ROPS Detail) H Total Current Period Enforceable Obligations (A +E): Successor Agency Self- Reported Prior Period Adjustment to Current Period RPTTF Requested Funding Enforceable Obligations funded with RPTTF (E): Less Prior Period Adjustment (Report of Prior Period Adjustments Column S) K Adjusted Current Period RPTTF Requested Funding (W) County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding Enforceable Obligations funded with RPTTF (E): M Less Prior Period Adjustment (Report of Prior Period Adjustments Column AA) N Adjusted Current Period RPTTF Requested Funding (L -M) 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. /s/ Name Signature $ 4,003,631 3,878,631 125,000 $ 4,003,631 4,003,631 (345,930) $ 3,657,701 4,003,631 4,003,631 Title Date (Report Amounts in Whole Dollars) C D E F H I J K L M ation Type Contract/Agreement Execution Date Contract/Agreement Termination Date Payee Project Area Total Outstanding Debt or Obligation Retired Funding Source Non - Redevelopment Property Tax Trust Fund (Non -RPTTF Bond Proceeds Reserve Balance Other Funds $ 168,308.185 $ - $ - $ - $ 4/24/2002 6/30/2015 US Bank as Trustee for No 1 -1988 21,500 N DA/Constructi 2/12/2002 2/12/2021 Abbott Vascular No 1 -1988 750,000 N DA/Constructi 2/12/2002 2112/2021 Abbott Vascular No 1 -1988 1,663,973 N = /ERAF 5110/2011 5/1012016 Low -Mod Housing Fund No 1 -1986 5,250,954 N DA/Constructi 7/1/1998 711/2027 Temecula Gardens L.P No 1 -1988 3,350.000 N Issued On or 12/31110 4/24/2002 7/28/2032 US Bank as Trustee for Bondholders No 1 -1988 37,405,131 N Issued On or 12131110 12/1/2006 7/30/2036 US Bank as Trustee for Bondholders No 1 -1988 26,579,929 N Issued On or 12/31110 12/1/2006 7130/2036 US Bank as Trustee for Bondholders No 1 -1988 4,584,495 N Issued On or 12131110 10117/2007 7/30/2037 US Bank as Trustee for Bondholders No 1 -1988 25,218,777 N Issued On or 12/31/10 2124/2010 7/31/2040 US Bank as Trustee for Bondholders No 1 -1988 27,307,649 N Issued After 10 3/1/2011 7/31/2041 US Bank as Trustee for Bondholders No 1 -1988 35,024,556 N DA/Constructi 7/24/2007 7/29/2016 Forrest City No 1 -1988 20,000 N Costs 7/1/2012 6/3012016 Multiple Payees No 1 -1988 250,000 N aunty Loans 3efore 6127111 3/1211996 12131/2016 City of Temecula No 1.1988 73,292 N Issued On or 12x31 i 10 4124/2002 7/28/2036 US Bank as Trustee for Bondholders No 1 -1988 164,781 N Issued On or 12131/10 1211/2006 7/3012036 US Bank as Trustee for Bondholders No 1 -1988 180.000 N Issued After 10 3/1/2011 7131/2036 US Bank as Trustee for Bondholders No 1 -1988 10,000 N 3ional �s 3/22/2011 6/3012016 Environmental Science Associates No 1 -1988 114,070 N sional )s 3/22/2011 6/30/2016 Inland Planning 8 Design No 1 -1988 13,520 N DA/Construcli 2112/2002 2112/2021 Abbott Vascular No 1 -1988 25,558 N N N N N ty 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 othe erty tax revenues is required by an enforceable obligation. For tips on how to complete the Report of Cash Balances Form, see Cash Balance Tips Sheet B C D E F G H +F4+ F6, and H=5+6) Fund Sources 8,579,588 $ - $ 310,000 3,134 (204,241) Bond Proceeds Reserve Balance Other RPTTF Prior ROPS Prior ROPS period balances RPTTF 363 161,433 Bonds Issued on and DDR RPTTF distributed as Rent, Non - Admin or before Bonds Issued on balances reserve for future Grants, and ce Information by ROPS Period 12/31/10 or after 01/01/11 retained period(s) Interest, Etc Admin 15 - 06130115) 7 Balance (Actual 01101115) +F4+ F6, and H=5+6) 7,986,730 8,579,588 $ - $ 310,000 3,134 (204,241) 06/30115) to the ROPS 14 -15B distribution from the luring January 2015 242 363 161,433 2,912,525 4-15B Enforceable Obligations (Actual -14 should equal total reported actual of PPA, Columns L and Q ish Balance (Actual 06/30/15) could only include the amounts distributed as x Period Adjustment to the self- reported ROPS 14 -15B PPA in the No entry required Cash Balance (1 +2-3-4-5) S 7,986,901 $ 8,579,783 $ S $ 164,567 $ 514,241 115 - 12131115 h Balance (Actual 07101115) +F4+ F6, and H=5+6) S 7,986,901 $ 8,579,783 $ - $ 310,000 $ 164,567 $ 168,311 to 12/31115) to the ROPS 15 -16A distribution from the luring June 2015 3,734,003 5 -16A Enforceable Obligations (Estimate ish Balance (Estimate 12131/15) could only include the amounts distributed as a ©saasaaaaaaaassaa