HomeMy WebLinkAbout16 - CC-17 - Review and Approval of Recognized Obliga - 2/17/2015SUCCESSOR AGENCY TO THE COSTA MESA
REDEVELOPMENT AGENCYAGENDA REPORT
MEETING DATE: February 17, 2015 ITEM NUMBER: CC -17
SUBJECT: REVIEW AND APPROVAL OF RECOGNIZED OBLIGATION PAYMENT
SCHEDULE FOR THE 15-16A SIX-MONTH FISCAL PERIOD OF JULY 1,
2015 TO DECEMBER 31, 2015 ("ROPS 15-16A")
DATE: February 2, 2015
FROM: FINANCE DEPARTMENT
PRESENTATION BY: COLLEEN O'DONOGHUE, CPA, ASSISTANT FINANCE
DIRECTOR
CONTACT: COLLEEN O'DONOGHUE, CPA, ASSISTANT FINANCE
DIRECTOR
(714) 754-5219
RECOMMENDED ACTION
Adopt Successor Agency Resolution No. 15 -XX Approving the Recognized Obligation
Payment Schedule for the 15-16A six-month fiscal period of July 1, 2015 to December 31,
2015 ("ROPS 15-16A"), subject to submittal to and review by the Oversight Board and then
by the State Department of Finance ("DOF"). Further, the Assistant Finance Director, in
consultation with legal counsel, shall be authorized to request and complete meet and confer
session(s) with the DOF and authorized to make augmentations, modifications, additions or
revisions as may be necessary or directed by DOF.
BACKGROUND AND DISCUSSION
The Successor Agency to the Costa Mesa Redevelopment Agency is performing its functions
under the Dissolution Law, Parts 1.8 and 1.85 of the Health and Safety Code, as amended
by Assembly Bill 1484 and other subsequent legislation (together, the "Dissolution Law"), to
administer the enforceable obligations and otherwise unwind the former Agency's affairs, all
subject to the review and approval by the seven -member Oversight Board.
At previous meetings of the Successor Agency, pursuant to the Dissolution Law prior
Recognized Obligation Payment Schedules I, II, III, 13-14A, 13-14B, 14-15A and 14-15B were
approved and thereafter submitted to the DOF, and ultimately approved with modifications.
Pursuant to Section 34171(g) of Part 1.85, a "Recognized Obligation Payment Schedule"
("ROPS") means the document setting forth the minimum payment amounts and due dates
of payments required by enforceable obligations for each six-month fiscal period as provided
in subdivision (m) of Section 34177. Under the dates in the Dissolution Law, the Successor
Agency is required to consider and adopt the ROPS for the 15-16A six-month fiscal period of
July 1, 2015 to December 31, 2015 and submit such approved ROPS 15-16A to the DOF on
or before March 1, 2015.
Section 34177(1) of Part 1.85 requires the Successor Agency to take actions with regard to
each ROPS as follows:
"(1)(1) Before each six-month fiscal period, prepare a Recognized Obligation Payment
Schedule in accordance with the requirements of this paragraph. For each
recognized obligation, the Recognized Obligation Payment Schedule shall
identify one or more of the following sources of payment:
(A) Low and Moderate Income Housing Fund.
(B) Bond proceeds.
(C) Reserve balances.
(D) Administrative cost allowance.
(E) The Redevelopment Property Tax Trust Fund, but only to the extent no
other funding source is available or when payment from property tax revenues
is required by an enforceable obligation or by the provisions of this part.
(F) Other revenue sources, including rents, concessions, asset sale proceeds,
interest earnings, and any other revenues derived from the former
redevelopment agency, as approved by the oversight board in accordance with
this part.
(2) A Recognized Obligation Payment Schedule shall not be deemed valid unless
all of the following conditions have been met:
(A) A Recognized Obligation Payment Schedule is prepared by the successor
agency for the enforceable obligations of the former redevelopment agency....
(B) The Recognized Obligation Payment Schedule is submitted to and duly
approved by the oversight board. The successor agency shall submit a copy of
the Recognized Obligation Payment Schedule to the county administrative
officer, the county auditor -controller, and the Department of Finance at the
same time that the successor agency submits the Recognized Obligation
Payment Schedule to the oversight board for approval.
(C) A copy of the approved Recognized Obligation Payment Schedule is
submitted to the county auditor -controller and both the Controller' s office and
the Department of Finance and be posted on the successor agency's Internet
Web site.
(3) The Recognized Obligation Payment Schedule shall be forward looking to the
next six months...."
The draft ROPS 15-16A, Attachment 1 to this agenda report, includes listings comparable to
the Enforceable Obligations in the DOF-approved ROPS I, 11, III, 13-14A, 13-14B, 14-15A and
14-15B in addition to the Section 34191.4 City/Agency reinstated loan approved by the DOF
in May 2014. During the presentation of this agenda item, Successor Agency staff will explain
the ROPS 15-16A and update the Successor Agency about its communications with the DOF
and CAC in implementation of the Dissolution Law.
Staff recommends that the Successor Agency adopt the attached Resolution approving the
ROPS 15-16A and authorize the Successor Agency's Assistant Finance Director and her
authorized designee(s) to transmit to the Oversight Board for its review and approval, and
concurrently to send a copy of the ROPS 15-16A to the State Department of Finance ("DOF"),
the County Auditor -Controller ("CAC"), the County Administrative Officer ("CAO"), and State
Controller's Office ("SCO"). In the event the ROPS 15-16A is directed to be changed by the
DOF, then the Assistant Finance Director and her designees, in consultation with legal
counsel, shall be authorized to request and complete meet and confer session(s) with the
DOF and authorized to make augmentations, modifications, additions or revisions as may be
necessary or directed by DOF, and changes, if any, will be reported back to the Successor
Agency and the Oversight Board. Pursuant to the Dissolution Law, the Successor Agency
staff will transmit again the ROPS 15-16A after it is approved by the Oversight Board to the
SCO, CAC, and DOF.
Section 34177(m) provides that for each ROPS submitted to the DOF, the DOF shall make
its determination of the enforceable obligations and the amounts and funding sources of the
enforceable obligations on each ROPS submitted no later than 45 days after submittal. If an
item or items on ROPS 15-16A are disallowed by the DOF, then the Successor Agency may
request a formal "meet and confer" meeting with DOF staff, in which event, Successor Agency
staff will update the board on this matter.
FISCAL AND LEGAL REVIEW
The Finance Department staff has worked with the Successor Agency's special counsel
Stradling Yocca Carlson & Rauth in preparation of this ROPS 15-16A pursuant to the
Dissolution Law.
CONCLUSION
Staff recommends adoption of the attached resolution approving the Successor Agency's
ROPS 15-16A for the period July 1, 2015 to December 31, 2015.
Thomas R. Hatch
Chief Executive Officer
and Executive Director
Attachments:
Colleen O'Donoghue
Assistant Finance Director
1. Recognized Obligations Payment Schedule 15-16A for the Six -Month Fiscal Period
July 1, 2015 to December 31, 2015
2. Successor Agency Resolution Approving ROPS 15-16A
ATTACHMENT 1
Recognized Obligations Payment Schedule 15-16A
for the Six -Month Fiscal Period July 1, 2015 to December 31, 2015
(attached)
Recognized Obligation Payment Schedule (ROPS 15-16A) -Summary
Filed for the July 1, 2015 through December 31, 2015 Period
Name of Successor Agency: Costa Mesa
Name of County: Orange
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+GD):
$
111,595
B
Bond Proceeds Funding CROPS Detail)
-
C
Reserve Balance Funding (ROPS Detail)
-
D
Other Funding (ROPS Detail)
111,595
E
Enforceable Obligations Funded with RPTTF Funding (F+G):
$
1,105,405
F
NonAdministrativeCosts (BOPS Detail)
980,405
G
Administrative Costs (ROPS Detal)
125,000
H
Current Period Enforceable Obligations (A-E):
$
1,217,000
Successor Agency Self -Reported Prior Period Adjustment to Current Period RPTTF Requested Funding
I Enforceable Obligations funded with RPTTF (E): 1,105 405
J Less Prior Pernod Adjustment (Report of Prior Period Adjustments Column S) (83,970)
K Adjusted Current Period RPTTF Requested Funding (I -J) $ 1,021,435
County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding
L Enforceable Obligations funded with RPTTF (E): 1,105,405
M Less Prior Period Adjustment (Report of Prior Period Adjustments Column AA)
N Adjusted Current Period RPTTF Requested Funding (L -M) 1,105,405
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 Name Title
Obligation Payment Schedule for the above named agency.
/s/
Signature Date
Recognized Obligation Payment Schedule (ROPS 15-16A) - ROPS Detail
July 1, 2015 through December 31, 2015
(Report Amounts in Whole Dollars)
A B
C
D
E
F
G H
1
a
K
L
M
N
O
P
Funding Source
Non -Redevelopment Property Tax Trust Fund
(Non-RPTTF)
RPTTF
Contract/Agreement
Contract/Agreement
Total Outstanding
Item # Project Name / Debt Obligation
Obligation Type
Execution Date
Termination Date
Payee
Description/Project Scope Project Area
Debt or Obligation
Retired
Bond Proceeds Reserve Balance Other Funds
Non -Admin
Atlmin Six -Month Total
$ 14,074,166
5 - $ - $ 111,595
$ 980,405 $
125,000 $
1,217,000
1 TAB Refunding 2003
Bonds Issued On or
9/25/2003
10/1/2017
Bank of New York
Bonds issued for non-housin ouriects Downtown
2 058,575
N
111,595
543 230
$
654 825
2 Contract for consulting services
Fees
9125/2003
10/1/2017
Bank of New York
Farefl Agent Services -Annual Downtown
2,500
N
2,500
$
2,500
3 Contract for consulting services
Fees
9125/2003
12/31/2018
Bank of New York
Arbitrage Calculation- every 5 yrs Downtown
-
N
$
-
4 Contract for consulting services
Fees
3/1/2011
12/3112018
Harrell & Company Advisor
Prep Continuing Disclosure Report- Downtown
N
$
-
C
Annual
§County ProperlyJaxAomin Fee -
Fees
1!12012 -
6(}02024
County of Orange
r Charge for Adral..g property tax Downtown`-
N
'-
$
-
system
6 Promissory Note Payable
City/County Loans
9/3011971
6/30/2024
City of Coats Mesa
Original Loan to establish RDA Downtown
11,813,091
N
359,675
$
359,675
On or Before 6/27111
37 Administrative Cost
Atlmin Costs
1/1/2012
6/30/2024
Not provided
Not provided Downtown
125,000
N
125,000 $
125,000
52 Litigation Against DOF & County of
Litigation
71112013
6/30/2018
Enterprise Counsel Group
Litigation against DOF & County of Downtown
75,000
N
75,000
$
75,000
Orange Auditor Controller
Orange Auditor Controller denying the
RDA loan and action denying certain
prior payments.
53
N
$
54
N
$
55
N
$
56
N
$
57
N
$
58
N
$
59
N
$
60
N
$
61
N
$
62
N
$
63
N
$
64
N
$
651
N
$
661
N
$
671
N
$
681
N
$
69
N
$
70
N
$
71
N
$
72
N
$
73
N
$
74
N
$
75
N
$
76
N
$
77
N
$
78
N
$
79
N
$
N
$
PN
$
02
N
$
83
N
$
Recognized Obligation Payment Schedule (ROPS 15-16A) - Report of Cash Balances
(Report Amounts in Whole Dollars)
Pursua nt to Health and Safety Cade section 34177(1), Redevelopment Property Tax Trust Fund (RPTTF) maybe 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 https://rad.dof.ca. Fov/rad-
sa/pdf/Cash Balance Agencv Tips Sheet.odf.
A
B
C
D
E
F
G
H
I
Fund Sources
Bond Proceeds
Reserve Balance
Other
RPTTF
Prior ROPS
Prior POPS
period balances
RPTTF
Bonds Issued on
and DDR RPTTF
distributed as
Rent,
Non -Admin
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
periods)
Interest, Etc.
Admin
Comments
POPS 14-15A Actuals (07/01/14 -12/31/14)
1
Beginning Available Cash Balance (Actual 07/01114)
704,300
55,301
2
Revenue/income(Actual 12/31/14)
RPTTF amounts should tie to the ROPS 14-15A distribution from the
County Auditor -Controller during June 2014
1,649,822
3
Expenditures for ROPS 14-15A Enforceable Obligations (Actual
12/31/14)
RPTTF amounts, H3 plus H4 should equal total opened actual
expenditures in the Repod of PPA, Columns L and O
1,S7Z 401
4
Retention of Available Cash Balance (Actual 12/31114)
RPTTF amount retained should only include the amounts distributed as
reserve for future pericd(s)
5
POPS 14-15A RPTTF Prior Period Adjustment
RPTTF amount should lie to the self-reported POPS 14-15A PPA in the
No entry required
Report of PPA, Column S
83,970
6
Ending Actual Available Cash Balance
C toG=(1+2-3-4),H=(1+2-3-4-5)
$ 704,300
$ -
$ -
$ -
$ -
$ 48,752
ROPS 14-15B Estimate (01101/15 - 06/30/15)
7
Beginning Available Cash Balance (Actual 01/01115)
(C, D, E, G=4+6,F=H4+F4+F6, and H=5+6)
$ 704,300
$ -
$ -
$ -
$ -
$ 132,722
8
Revenue/lncome(Estimate 06/30115)
RPTTF amounts should tie to the ROPE 14-156 distribution from the
County Auditor- Controller during January 2015
198,760
9
Expenditures for ROPS 14-15B Enforceable Obligations (Estimate
06/30/15)
247,825
10
Retention of Available Cash Balance (Estimate 06130115)
RPTTF amount retained should only include the amounts distributed as
reserve for future period(s)
11
Ending Estimated Available Cash Balance (7+8-9-10)
$ 704,300
$ -
$ -
$ -
$ -
$ 83,657
Recognized Obligation Payment Schedule (ROPS 15-16A) -Report of Prior Period Adjustments
Reported for the POPS 14-15A (July 1, 2014 through December 31, 2014) Period Pursuant to Health and Safety Code (HSC) section 34186 (a)
(Report Amounts In Whole Dollars)
ROPS 14-15A Successor Agency (SA) Self-reported Prior Period Adjustments (PPA): Pursuant to HSC Section 34186 (a), SAs are required to report the differences between their actual available funding and their actual
expenditures forthe POPS 14-15A (July through December 2014) period. The amount of Redevelopment Property Tax Trust Fund (RPTTF) approved for the POPS 15-16A (July through December 2015) period will be offset
by the SA's self-reported POPS 14-15A prior period adjustment. HSC Section 34186 (a) also specifies that the prior period adjustments self-reported by SAs are subject to audit by the county auditor -controller (CAC) and the
State Controller.
A
B
I
J
K
L
M
N
O
P
Q
R
S
T
RPTTF Expenditures
Net SA Nan -Admin
and Admin PPA
(Amount used to
Offset ROPS 15-16A
Noun Admin
Admin
Requested RPTTF)
Available
Available Difference
RPTTF
RPTTF (N total actual
(ROPS 1415A Difference
(ROPS 1415A exceeds total
distributed + all other Net Lesser of tN K is less than L,
distributed + all other Net Lesser of authorized, the
Project Name
available as of Authorized) the difference d,vailable
a as of Authorized) total difference is
Net Difference
hem A
Debt Obligation
Authorized 0711114) Available Actual zero)
Authorized 071V14) Available Actualzero)
(M+R)
SA Comments
$ 125,000
5 1531,371 $ 1,531,371 $ 1531,3]1 $ 144],401 $ 83,970
$ 125,000 $ 125,000 $ 125,000 S -
$ 83,970
1
TAB Refunding
645,888 645888 S-645 888 645,888 $
_
5
2
Contradfor
2,500 2,500 $ 2,500 1,002 $ 698
$ 698
3
Contad for
_
- $ - $
S
cons. 11n9 s.Nlees
4
Contact for
- - 8 $
-
$
consulfing services
5
County Property
- $ - $ -
S
Tax Admin Fee
6
Promissory Note
782,983 782983 $ 782.983 ]02,983 $
$
Payable
Successor Agency
- $ $ -
b
Consulting
8
Not Provided
- $ $
9
Not Provided
- $ $
$
10
Neighborhood
- - $ $
-
S -
Stabilization
Program
11
Project Casts
- $ - $ -
-
$
Consulting
12
Project Costs- Legal
- - $ $
$
13
1901 Newport
- - $ - $
-
$ -
Nousing Projett
14
Project Casts-
- - $ - $ -
-
$
Consulting
15
Project Costs Legal
- - $ - S
-
$
Recognized Obligation Payment Schedule (ROPS 15-16A) -Report of Prior Period Adjustments
Reported for the POPS 14-15A (July 1, 2014 through December 31, 2014) Period Pursuant to Health and Safety Cade (HSC) section 34186 (a)
(Report Amounts in Whole Dollars)
ROBS 14 -ISA Successor Agency (SA) Self-reported Prior Period Adjustments (PPAb Pursuant to HSC Section 34186 (a), SAs are required to report the differences between their actual available funding and their actual
expenditures for the POPS 14-15A (July through December 2014) period. The amount of Redevelopment Property Tax Trust Fund (RPTTF) approved for the ROPS 15-16A (July through December 2015) period will be offset
by the SA's self-reported ROPS 14-15A prior period adjustment. HSC Section 34186 (a) also specifies that the prior period adjustments self-reported by SAs are subject to audit by the county auditor -controller (CAC) and the
State Controller.
A
B
I
J
K
L
M
N
0
P
Q
R
S
T
RPTTF Expenditures
Net SA Non -Admin
and Admin PPA
(Amount Used to
Offset ROBS 15-16A
NonAddedAtlmin
Requested RPTTF)
Available
Available Difference
RPTTF
RPTTF (If total actual
(ROPS 14-15A
Difference
(ROPS 14-15A a..yrds total
distributed + all other Net Lesser of
(Ir Kis less than L,
dlsGbWed+off other Net Lesser of authorized, the
Project Name Ivailable
a as of Authorized I
the difference is
available as of Authorized I total difference is
Net Difference
Itek
m
Debt Obligation
Authorized 0711/14) Available
Actualzero)
Authorized
07/1/14) Available Actual zero)
here)
SA Comments
$ 125,000
$ 1531,371 $ 1,531,371 S 1,531,371
S 1,44],401 S 83,970
S 125,000
S 125,000 $ 125,000 $ -
$ 03,9]0
16
First Time Home
- $ -
$ -
-
$ -
Buyer Program
(FTHB)
17
Protect Casts
- - $ -
$ -
$ -
Consulting
10
Protea Costs -Legal
- 5 -
$
-
$ -
19
Single Family
- $ -
$
-
$
Rehabilitation
Program
20
Project Costs -Legal
- S
$
21
Civic Center Sarno
- $
$
S
22
Project Costs-
- - S
$ -
S -
Consulting
23
Project Costs -Legal
- - S -
$
S -
24
St John's Manor
- $
$
S
25
Project Costs
- - $
$
S
Consulting
20
Project Cosls-Legal
- $ -
$ -
S
27
Costa Mesa Village
$ -
$
-
S
SRO'
20
Protect Casts-
- $ -
$ -
$ -
Consaltng
29
Pro)ect Costs -Legal
- $ -
S
_
-
$
Recognized Obligation Payment Schedule (RODS 15-16A) - Report of Prior Period Adjustments
Reported for the ROPS 14-15A (July 1, 2014 through December 31, 2014) Period Pursuant to Health and Safety Code (HSC) section 34186 (a)
(Report Amounts in Whole Dollars)
ROPS 14-15A Successor Agency (SA) Self-reported Prior Period Adjustments (PPA): Pursuant to HSC Section 34186 (a), SAs are required to report the differences between their actual available funding and their actual
expenditures for the ROPS 14-15A (July through December 2014) period. The amount of Redevelopment Property Tax Trust Fund (RPTTF) approved for the POPS 15-16A (July through December 2015) period will be offset
by the SA's self-reported POPS 14-15A prior period adjustment. HSC Section 34186 (a) also specifies that the prior period adjustments self-reported by SAs are subject to audit by the county auditor- controller (CAC) and the
State Controller.
A
B
I
J
K
L
M
N
O
P
O
R
S
T
RPTTF Expenditures
Net SA NonAcrid
and Admin PPA
(Amount Used to
Offset ROPS 15-16A
Non-Atlmin
Atlmin
Requested RPTTF)
Available
Available
Difference
RPTTF
RPTTF
(If total actual
CROPS 14-15A
Difference
(ROPS 14-15A
exceeds total
distributed + all other
Net Lesser of
(If K is less than L,
distributed + all other Net Lesser of
authorized, the
Project Name /
available as of
a
Authorized I
the difference is
available as of Authorized /
a
total difference is
Net Difference
Rem C
Debt Obligation
0711/14)
Available Actual
era)
Authorized
07/1/14) Available
Actual ero)
(M+R)
SA Comments
$125,000
S 1531371
$ 1531371 $ 1447,401
$ 83970
S 125,000
$ 125.000
5 125,000 $ -
$ 83970
30
Costa Mesa Famil
-
$ -
$
V ide,(ShapolQ31
Project Costs-
-
$
$
Consult",
32
Praject Costs- Legal
-
$ -
$
33
Rental
- -
S
$ -
-
$
Rehabilitation
Program
34
Praject Costss-Legal
-
$ -
$ -
$ -
35
Harrel for
-
$
$
-
$
Humanity (5 antis)
36
Project CostsLegal-
-
$
$ -
-
$
37
Adi imstratse Cost
-
$
$
$
38
Successor Agency
- -
$
$ -
, -
$
Personnel
Expenditures
39
Executive Secretary
-
S -
$
$ -
40
Management
- -
$
$ -
-
18,562
$
Analyst
41
Management
-
$ -
$
-
$ -
Analyst
42
occurring
- -
$
$
-
17,711
$
Supervisor
43
Asst Finance
_ _
$
$
30,703
$ -
Dlrector
Recognized Obligation Payment Schedule (ROPS 15-16A) -Report of Prior Period Adjustments
Reported for the ROPS 14-15A (July 1, 2014 through December 31, 2014) Period Pursuant to Health and Safety Code (HSC) section 34186 (a)
(Report Amounts in Whole Dollars)
REPS 14.15A Successor Agency (SA) Self-reported Prior Period Adjustments (PPA): Pursuant to HSC Section 34186 (a), SAs are required to report the differences between their actual available funding and their actual
expenditures for the ROPS 14-15A (July through December 2014) period. The amount of Redevelopment Property Tax Trust Fund (RPTTF) approved for the ROPS 15-16A (July through December 2015) period will be offset
by the SA's self-reported ROPS 14-15A prior period adjustment. HSC Section 34186 (a) also specifies that the prior period adjustments self-reported by SAs are subject to audit by the county auditor -controller (CAC) and the
State Controller.
A
B
J
K
L
M
N
O
P
O
R
S
T
RPTTF Expenditures
Net SA Non -Admin
and Admin PPA
(Amount Used to
Offset POPS 15-16A
Non -Admin
Admin
Requested RPTTF)
Available
Available Difference
RPTTF
RPTTF (If total actual
(RODS 14-15A Difference
(BOPS 14-15q exceeds total
distributed +all other Net Lesser of (If K is less than L,
distributed + all other Net Lesser of authorized, the
Project Name Ivailable
a as of Authorized I the difference is
available as of Authorized I total difference is
Net Difference
Item#
Debt Obligation
Authorized 0711/14) Available Actual zero)
Authorized 0711/14) Available Actual em)
(M -R)
SA Comments
$ 125,000
$ 1,531,371 5 1,531371 $ 1,531371 5 1447,401 $ 83,970
$ 125,000 $ 125,000 $ 125,000 $ -
$ 83,970
44
Budget Analyst
- $ 5
11.078
$
45
Administrative Cost-
- 3 5 -
- 7,500
$ -
Aud[ng Exp
46
Administrative Cost-
- 5 - $
-
$
Others
47
Central Services
- S 5
$
48
Postage Charges
- 5 $
$
49
Successor Agency
- 5 $
- 27,837
$
Personnel
Expenditure -City
Clerk
50
Successar Agency-
- - 5 $
- 11,529
$
Legal Services
51
Successor Agency
_
- - 5 - $ -
$ -
Consulting SeMces
52
Litigation Against
100,000 100,000 $ 100,000 16,728 $ 83,92
-
$ 83,272
DOE & County of
Orange Auditor
Controller
$ $
$
$ $
$
$ $
$
8
S
$
$
5 $
$
5 ..__ $
Is
Recognized Obligation Payment Schedule (ROPS 15-16A) - Notes
July 1, 2015 through December 30, 2015
Item# Notes/Comments
On the ROPS detail worksheet $111,595 was listed as Other Funds under Funding Source. This amount was transferred to Costa Mesa Successor Agency from
the City as of 12/31/2014 based an the State Controller's Office audit findings reported in the Costa Mesa Redevelopment Agency Asset Transfer Review Report
1 dated January 2015.
ATTACHMENT 2
Successor Agency Resolution No. 15 -XX Approving Recognized Obligations
Payment Schedule 15-16A for the Six -Month Fiscal Period July 1, 2015 to
December 31, 2015
(attached)
SUCCESSOR AGENCY RESOLUTION NO. 15 -XX
A RESOLUTION OF THE SUCCESSOR AGENCY TO THE COSTA MESA
REDEVELOPMENT AGENCY APPROVING THE RECOGNIZED OBLIGATION PAYMENT
SCHEDULE 15-16A FOR THE SIX-MONTH FISCAL PERIOD OF JULY 1, 2015 TO
DECEMBER 31, 2015, SUBJECT TO SUBMITTAL TO, AND REVIEW BY THE OVERSIGHT
BOARD AND THE DOF PURSUANT TO CALIFORNIA HEALTH AND SAFETY CODE,
DIVISION 24, PART 1.85; AUTHORIZE POSTING AND TRANSMITTAL THEREOF
WHEREAS, the former Costa Mesa Redevelopment Agency ("former Agency") was
established as a redevelopment agency that was previously organized and existing under the
California Community Redevelopment Law, Health and Safety Code Section 33000, et seq.,
and previously authorized to transact business and exercise powers of a redevelopment
agency pursuant to action of the City Council of the City of Costa Mesa ("City"); and
WHEREAS, Assembly Bill x1 26 chaptered and effective on June 27, 2011 added
Parts 1.8 and 1.85 to Division 24 of the California Health & Safety Code, which caused the
dissolution of all redevelopment agencies and wind down of the affairs of former agencies,
including as such laws were amended by Assembly Bill 1484 and other subsequent legislation
(together, the "Dissolution Law"); and
WHEREAS, as of February 1, 2012 the former Agency was dissolved pursuant to the
Dissolution Law, and as a separate public entity, corporate and politic the Successor Agency
to the Costa Mesa Redevelopment Agency ("Successor Agency") administers the
enforceable obligations of the former Agency and otherwise unwinds the former Agency's
affairs, all subject to the review and approval by a seven -member oversight board ("Oversight
Board"); and
WHEREAS, pursuant to Section 34179 the Successor Agency's Oversight Board has
been formed and its initial meeting occurred on April 19, 2012; and
WHEREAS, Section 34179 provides that the Oversight Board has fiduciary
responsibilities to holders of enforceable obligations and the taxing entities that benefit from
distributions of property tax and other revenues pursuant to Section 34188 of Part 1.85 of the
Dissolution Law; and
WHEREAS, Sections 34177(m) and 34179 provide that each ROPS is submitted to
reviewed and approved by the Successor Agency and then reviewed and approved by the
Oversight Board before final review and approval by the State Department of Finance
("DOF"); and
WHEREAS, the Dissolution Law, in particular Section 34177(m), requires that the
ROPS for the 15-16A six-month fiscal period of July 1, 2015 to December 31, 2015
("ROPS 15-16A") shall be submitted to the DOF by the successor agency, after approval by
the oversight board, no later than March 1, 2015; and
WHEREAS, pursuant to Sections 34179.6 and 34177(k)(2)(B) of the Dissolution Law,
the Successor Agency is required to submit a copy of the ROPS 15-16A to the County
Administrative Officer ("CAO"), the County Auditor -Controller ("CAC"), the State Controller's
Office ("SCO") and the DOF at the same time that the Successor Agency submits such ROPS
to the Oversight Board for review; and
WHEREAS, the Successor Agency has reviewed the draft ROPS 15-16A and desires
to approve such ROPS and to authorize the Successor Agency, to transmit the ROPS to the
Oversight Board for review and action and send copies of such ROPS to the CAO, CAC, SCO
and DOF; and
WHEREAS, the Successor Agency shall post the ROPS 15-16A on the Successor
Agency website.
NOW, THEREFORE, BE IT RESOLVED BY THE SUCCESSOR AGENCY TO THE
COSTA MESA REDEVELOPMENT AGENCY:
Section 1. The foregoing recitals are incorporated into this Resolution by this reference,
and constitute a material part of this Resolution.
Section 2. Pursuant to the Dissolution Law, the Successor Agency approves the
ROPS 15-16A submitted herewith as Attachment 1, which schedule is incorporated herein by
this reference; provided however, that the ROPS 15-16A is approved subject to the condition
such ROPS 15-16A is to be transmitted to the Oversight Board for review and approval and
a copy of such ROPS 15-16A shall concurrently be sent to the CAO, CAC, SCO, and DOF.
Further, the Assistant Finance Director, in consultation with legal counsel, shall be authorized
to request and complete meet and confer session(s) with the DOF and authorized to make
augmentations, modifications, additions or revisions as may be necessary or directed by
DOF.
Section 3. After approval by the Oversight Board, the Successor Agency authorizes
transmittal of the approved ROPS 15-16A again to the CAC, SCO and DOF.
Section 4. The Assistant Finance Director of the Successor Agency or an authorized
designee is directed to post this Resolution, including the ROPS 15-16A, on the Successor
Agency website pursuant to the Dissolution Law.
Section 5. The Secretary of the Successor Agency shall certify to the adoption of this
Resolution.
APPROVED AND ADOPTED this 17th day of February 2015.
Stephen M. Mensinger, Chair
Successor Agency to the Costa Mesa
Redevelopment Agency
ATTEST:
Brenda Green, Secretary
Successor Agency to the Costa Mesa Redevelopment Agency
(SEAL)
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF COSTA MESA )
I, Brenda Green, Secretary of the Successor Agency to the Costa Mesa
Redevelopment Agency, hereby certify that the foregoing resolution was duly adopted by the
Successor Agency at a regular meeting held on the 17th day of February 2015, and that it was
so adopted by the following vote:
AYES: COUNCIL MEMBERS: None
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
IN WITNESS WHEREOF, I have hereby set my hand and affixed the seal of the City of
Costa Mesa this 17th day of February, 2015.
Brenda Green, Secretary
Successor Agency to the Costa Mesa
Redevelopment Agency
(SEAL)