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Home My WebLink About17-01 OB SARDA Resolution RESOLUTION NO. OB SARDA 17-01 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 PERIOD OF JULY 1, 2017 THROUGH JUNE 30, 2018 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, 2017 through June 30, 2018 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, 2017 through June 30, 2018 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 25th day of January, 2017. z John Kelliher, Chairperson ATTEST: W__-) Rani ity Clerk/Board Secretary 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 17-01 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 25th day of January, 2017, by the following vote: AYES: s BOARD MEMBERS: GONZALEZ, KELLIHER, MEYER, THORNHILL, VENABLE NOES: 0 BOARD MEMBERS: NONE ABSTAIN: 0 BOARD MEMBERS: NCNE ABSENT: 2 BOARD MEMBERS: ORDWAY-PECK, TURNER Rand Johl City Clerk/Board Secretary EXHIBIT A Recognized Obligations Payment Schedule for the period July 1, 2017 through June 30, 2018 (ROPS 17-18) Recognized Obligation Payment Schedule (ROPS 17-18) -Summary Filed for the July 1,2017 through June 30,2018 Period Successor Agency: Temecula County: Riverside 17-18A Total 17-18B Total Current Period Requested Funding for Enforceable Obligations(BOPS Detail) (July-December) (January-June) ROPS 17-18 Total A Enforceable Obligations Funded as Follows(B+C+D): $. . _ 1,219,731 1,219,731 B Bond Proceeds - - C Reserve Balance 1,219;731 - 1 219;731.. D Other Funds - - E Redevelopment Property Tax Trust Fund(RPTTF)(F+G): $ -3,907;793 ' $ 31951;357.' $ 7,859;150.+ F RPTTF 3,782,793 3,826,357 7,609,1 G Administrative RPTTF - 125,000 125,000 .. 250,000- H Current Period Enforceable Obligations(A+E): $- 5027,524 $ .:..3,951,357 $ 91078,881: 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. /s/ Signature Date Temecula Recognized Obligation Payment Schedule(ROPE 17-18)-ROPS Detail July 1,2017 dvough Jum 30,2018 (Report Amountsm Wholel3c, rs) A 9 c D E F G H I J K L 17-19A Wuly-December 17-ISB Janwa -Jurea Fund Solaces Fund Sources CaNaMAprmenl CmbN.MAWnmmt TdW OUWkk2 BOPS 17-18 tT.. 8mm4 Namer0aN O - ni E.ZDN Temwtlen GN P Geadpbon/Pm Pm Nu OsNw ReryW TPW Barw Procntle Rewn BaYraa OBNrlu. RPT AdnRn RPTTF Teed BPM Pmaetls Rerrw Baanw OUar FUWe RPTiF Adman RPTTF Tobl 5 150.40188 80>3 Nt 1 -13 218731 f -is 3.782.723 3 125.000 512744 S $ - $ - S 3.825357 125000 3 135) [Faia lESSS 513121116 US enk FewM TA lean 1-1 1 lam 2 PA p - 1 t 1 V P Tax ftalmbursmeM 1-1938 1211000 1 000 - 3AbbevOPA OPADDAlewwbmPn 211212002 2112/1221 Abbeav-6, R..--I fw 90wbem,RR No.1-1f80 750.000 N 3 - f f man¢ 6 SERNF PeSIrIrI Reanbuenw[ SERAFIEMF 5102011 S,1Gr1210 LPVrk1eE Houvn Fuld Lan at Lm.wod 1a Re.e F.W No.t-1888 5.250.951 N 3 - f - f SERAF S TemePl rartlNOLPLmr OPAIOpATasYUCbn )11/1808 7/12027 TenNCUb GNtlNS LP. Lnntar Af-IvAeHO, N,.t-1908 3355.090 N S 306,000 96.000 5 305,000 5 B 2102 TAB FY 2112713 Det SeRnce BwMe Ie On w Bdwe V2MNP2 71g112S1 US Bank a T.b Bo .lssuvsm F.RetleMOPnIent 1b.1-1988 35$10.80) N 3 9,MBA73 1218.731 581,731 3 1,701,42 1]94.011 f t2N,11 P Es 1=1110 8�7 2808 TAB SnYe A FY 2012/13 DdN Bml.On w Babe 12112008 72002085 US Beek es Trustee b Bonds Issue b FN Ratleawmw•N N0.1-1988 25,514271 N 3 1.04.56 34,519 S 388,518 873818 I 676,018 Bnw r 1=1110 BonC Id rs Acaivca B 2008 TAB Eel10 FY 2012113 G9[Bw4e bNvd On aB.bN 1211/1008 )9M12a0 US Bank as Trustee kr Boeds lssuesw F.RWnelewai8 Nw1-119 1,]88.40 N 3 100.918 135,111 S 135.110 03,500 $ 63.504 Servb 1291,10 BerM Id— AcS.ndee r23 1W1712007 >9WP3) US 9anh a T.W Bootle lssea w F.RWnebgnnl No_146811 2102349 N 3 1-3343 )18.532 S 718,532 1 ! 365001 1/1 US .n,we Adknhes 310 Haem TAO SeRSe A S B FV Bml lrlwtl On w BelPn 2/1/2010 1912040 US Babe ae Tree ka Bw issues b FNM A9edebN W.1-1888 25.731330 N a 1.24.258 f 778.218 IB),0I1 f 41041 1291/19 MtIdh.wers 2M 1 NUrp TAB Feel Y. Bmllevuerl ABni21a1/19 WAIM1 )9111211 US Bankae TuaeeT BwMlzrlrb Furor Aonnaii W.1-184 t 7B 5 5]1679 BcnNwwere -PrOmerl - OPA OPAIDDP/OO 7 ) ] 1 /wrest C Lwn PubOc P No.1-1 A 000 N - Agee, MmhNafem Abnn CuR 711/6112 9/18'215 Win*Pryen A9erq B411Carrpenrtrer l APerwy W,t-1989 250 M N 3 250.000 125.000 3 125.009 125 Dee 3 125000 6tF STN Omrwsry WY Lq/CweM iow One V,2MRsS 12912916 9/dTn—Uw Sit Unkm 9OIrWrn BirvY levutl onv 9ebro �b11b2 'RB/N.6 US Banta Ty lq' b9ViC N 1/1 Bi^dioYWa Un1urWtl ObkgebRe Burl Nerel Ong OeMe 'J1GW6 79 036 IJSB .Tr ft 009►FYM1 No.i-1889 190000 N Mellon r80.� 100�. 20 UnNntlM OblpNma BwWe Maa6 AtNr 12/31110 3/1111111 71372-35 U6 Bank a Truabe for BdMlvrab Fund Rent pine SR.1-1998 10.000 N S 10000 $ 10,000 3 1p,G00� Bwy9rylary ANwOa d3i UIhn&d eblgpta PrgleaveMI SmV 3f➢2911 6130210 Errwlbmnsnbl Beene Jslribn Larrgor Spe Plen EIR W.1-1999 116,070 N $ 114.070 3 - 114,0)9 3 111070 Pewabe PrvbeewrNl banbr 11 920116 IMnd Jellnvr S w Pan W,i-1989 135M N S 13520 13.520 Urrenrld OPA/D 2/1212021 Abbee Vavlr P Ta PSenwarxa NP.1-180 .550 N 25.558 3 25 2555e Unkar6800hyy a UnNyW l.ubiU n ✓114102 7281¢38 USBank Se Tnanl Bvgelrwab FlN RetlnabpnerR No.t-1889 144254 N E 144251 S Un4r600biselan UWded Labil4 1.,. )9011238 US Bank a TnNbe ti Bwll lrwbFUd RatlTebpiarlt Ib.t-1888 N f U.SarW Labs 21412011 003001218 Emwennnrle0 StlNO Jelrem cenilr BPWIc Plen EMt No.t-19110 N S N S A B I C I D I E I F I G I H Temecula Recognized Obligation Payment Schedule(ROPS 17-18)-Report of Cash Balances 1 (Report Amounts in Whole Dollars) IPursuant to Health and Safety Code section 34177(1).Redevelopment Property Tax Trust Fund IRPTTF)may be listed as a source of payment on the ROPS,but only to the extent no other funding source is available or 2 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. 3 A B C D E I F G H 1 4 Fund Sources 5 Bond Proceeds Reserve Balance Other RPTTF Prior ROPS Prior ROPS RPTTF Bonds issued on period balances distributed as Rent, Non-Admin or before Bonds issued on and DDR RPTTF reserve for future grants, and 6 Cash Balance Information by ROPS Period 12131/10 or after 01/01111 balances retained period(s) interest,etc. Admin Comments 7 ROPS.15-16BActuals 01/01/16-06/30/16 1 Beginning Available Cash Balance(Actual 01/01 116) 8 7,987,054 8,581,604 489,446 2 Revenue/Income(Actual 06/30116) RPTTF amounts should tie to the ROPS 15-16B distribution from the County Auditor-Controller during January 2016 9 168 3,581 151,398 3,071,869 3 Expenditures for ROPS 15-ISB Enforceable Obligations(Actual 06/30116) 10 1 2,651,026 4 Retention of Available Cash Balance(Actual 06/30116) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 11 1,219,731 5 ROPS 15-16B RPTTF Balances Remaining +`N F 1pfl'5 i �A.S '�. �- : G yam-r T r .y 3 O r r d• No entry required} 12 d 4 i �ae.tx- ..4 y F a•",'us ',�•-3 r ti's 6 Ending Actual Available Cash Balance;; Cto G=(1+2 3-4),11 (lz+2-3-4-51. i.. . .. 13 _ -1 _ ., _ ., f 7987222 f -8585185. -.f -- S- f` .161398 f' 1'288'77d