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Home My WebLink About16-02 OB SARDA Resolution RESOLUTION NO. OB SARDA 16-02 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 JULY 1, 2016 THROUGH JUNE 30, 2017 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. 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 March 3, 2015, 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 July 1, 2016 through June 30, 2017 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 July 1, 2016 through June 30, 2017 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 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 Oversight Board of the Successor Agency to the Temecula Redevelopment Agency this 15' day of February, 2016. Gary Thornhill, Chairperson ATTEST: Randi Johl, di rd Secretary [SEAL] STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss CITY OF TEMECULA ) I, Randi Johl, City Clerk/Board Secretary of the Oversight Board of the Successor Agency to the Temecula Redevelopment Agency, do hereby certify that the foregoing Resolution No. OB SARDA 16-02 was duly and regularly adopted by the Board of Directors of the Oversight Board of the Successor Agency to the Temecula Redevelopment Agency at a meeting thereof held on the 1s' day of February, 2016, by the following vote: AYES: 6 BOARD MEMBERS: Elam, Kelliher, Meyer, Ordway-Peck, Thornhill, Turner NOES: 0 BOARD MEMBERS: None ABSTAIN: 0 BOARD MEMBERS: None ABSENT: 1 BOARD MEMBERS: Gonzalez Randi Johl City Clerk/Board Secretary EXHIBIT A Recognized Obligations Payment Schedule for the period July 1, 2016 through June 30, 2017 (ROPS 16-17) Recognized Obligation Payment Schedule (ROPS 16-17) - Summary Filed for the July 1. 2016 through June 30. 2017 Period Successor Agency: Temecula County: Riverside ROPS 16-17 Current Period Requested Funding for Enforceable Obligations CROPS Detail) 16-17A Total 16-17B Total Total Enforceable Obligations Funded with Non-Redevelopment Property Tax Trust Fund(RPTTF)Funding A Sources(B+C+D): $ - $ - $ - B Bond Proceeds Funding - - - C Reserve Balance Funding - - - D Other Funding - - - E Enforceable Obligations Funded with RPTTF Funding (F+G): S 4,875,720 f 4,040,649 $ 8,916,369 F Non-Administrative Costs 4,750,720 3,915,649 8.666.369 G Administrative Costs 125,000 125,000 250,000 H Current Period Enforceable Obligations (A+E): $ 4,675,720 $ 4,040,649 $ 8,916,369 Certification of Oversight Board Chairman: Pursuant to Section 34177(o)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 successor agency. ta/ Signature Date �II.II�i�I�I' �� I�ylllllllll pp I I III IIIII II�III. ��RI�! II Yllllllll�il i I iii IIII r��li I O��IIIIINIIIIIiIIIINIIIIIIIIIIIIIIIII�IIII � ��III��W�IIi� Illlllllllllllll�llllllllll�lllllnlllllldlll �u'�'��''- _IIIIIIIIIIIIIIINIIIIIIIIIIIIIIIIIIIIIIIIIYII N IIIIIIIIIIIIIIIINIIII�IIIIINIIIIIInIIIIIRIII �i IIIIIIIIIIIIIIINIIIItlIIIII�IIIIIaIIIIIINII 1 II ��illiil�IIIII�iIIINlllil�iililllllllll�il 1 II IIIIIIIYIIIIIIIIIINIIIIIIIIIIIIIIIIIIIINII ��I�� I�IIIIIaEllll�illlii��o��o�o��io�� I �� IIIII�IIIII�IIII�RIII�IIIII�IIIII�III I�� '�IIIIIIIIIIII�IIIIIIIIIIIIIIII�IIIIIIAIII �iE�� iiiiiiiiiiiiiiiiiiiiiiiii�iiiiiniiiii�iiii �', '��iiii�llll i iu iiu�iiiuiiii �i�� a��iiii�iiii Illli �illii'�illl � �� u�u��uu��u��u�� . �,�� f�aK.�OYPY��Y.��MYY IIIM�KIf1.IW{M1IY .V/t PMYn�K n�P.P.i Y��Y PYY KOA x milt Temecula Recognized Obligation Payment Schedule(ROPS 16-17)-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 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 CASH BALANCE TIPS SHEET A B C D E I F G H I Fund Sources Bond Proceade Reserve Saline Other RPTTF Prior ROPS Prior ROES parted balances RPTTF Bonds issued on andDCRRPTTF1 distributed as Rent, Non-Admen or before Bonds issued on balances reserve for future grants, and Cash Balance Information by ROPS Period 12/31/10 or after 01/01/11 retained period(s) interest,etc. Admm Comments ROPE 16.16A Actuate 07101116.12/31116 1 Beginning Available Cash Balance(Actual 07 101115) 7.986.901 8,579,783 310,000 161.567 168.311) 2 Revenue/income,(Actual 0131115) RPTTF amounts should be to the ROES 15-16A distribution from the County Auditor-Controller during June 2015 153 1821 2.108 3,710.003 3 Expenditures for ROPS 15-16A Enforceable Obligation(Actual 1201/15) 310,000 166.673 4.055,138 4 Retention of Available Cash Balance(Actual 1201116) RPTTF amount retained should only include the amounts distributed as reserve for future periods) 5 ROPE 15-16A RPTTF Balances Remaining No entry required 6 Ending Actual Available Cash Balance C to G-(1.2.3-Q,H-(I-2.3-4-6) 6 7MYN41 6 Culls" 6 - S - 6 - 6 410 ROPS 16.168 Estimate 01101116.061301161 7 Beginning Available Cash Balance(Actual 01101/16) (C,D,E,G=4♦6,F-H4+F4 a F6,and H a 5+61 6 7,N7,aM 6 adal,aN $ - 6 - { - >♦ 429 a Revenuellncema(Estimate 06130116) RPTTF amounts should to to the ROES 15-IBB distribution from the County Auditor-Controller during January 2016 3,071,069 9 Expenditures for ROPS 16.168 Enforceable Obligations(Estimate 06130116) 2,532,828 10 Retention of Available Cash Balance(Estimate 06130116) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 11 Ending Estimated Available Cash Balance(7•a-9-10) a 7,107,064 6 8,681,604 S - $ - i - $ 49,696 Temecula Recognized Obligation Payment Schedule (ROPS 16-17) - Notes July 1, 2016 through June 30, 2017 Item# Notes/Comments T 28,2s,3o These Unfunded Obligations added to the ROPS were to request monies that were "swept' by the State as part of ROPS 14-15B Prior Period Adjustments. These monies should have been carried by the Agency as reserves to make payments for certain ROPS obligations. This has happened to our Agency in the past and Department of Finance staff has advised to simply place these items on the ROPS as Unfunded Obligations for future funding and to reimburse the Agency.