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Home My WebLink About19-06 - Approving Recognized Obligation Payment Schedule (ROPS) 19-20 A-B for FY19-20SUCCESSOR AGENCY RESOLUTION NO. 19-06 A RESOLUTION OF THE SUCCESSOR AGENCY TO THE COSTA MESA REDEVELOPMENT AGENCY APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE 19-20 A -B FOR THE ANNUAL FISCAL PERIOD OF JULY 1, 2019 TO JUNE 30, 2020, INCLUDING THE FY 19-20 ADMINISTRATIVE BUDGET, SUBJECT TO SUBMITTAL TO, AND REVIEW BY THE ORANGE COUNTYWIDE OVERSIGHT BOARD AND THE STATE OF CALIFORNIA, DEPARTMENT OF FINANCE UNDER CALIFORNIA HEALTH AND SAFETY CODE, DIVISION 24, PART 1.85; AND, AUTHORIZING THE POSTING AND TRANSMITTAL THEREOF WHEREAS, the former Costa Mesa Redevelopment Agency ("Former Agency") was established as a redevelopment agency which 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 added Parts 1.8 and 1.85 to Division 24 of the California Health and Safety Code, which caused the dissolution of all redevelopment agencies and winding down of the affairs of former agencies, including as such laws were amended by Assembly Bill 1484 and by other subsequent legislation (together, as amended, the "Dissolution Law"); and WHEREAS, as of February 1, 2012 the Former Agency was dissolved under 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; and WHEREAS, under Section 34179(j) of the Dissolution Law, in every California county there shall be one oversight board that is staffed by the county's auditor -controller; and WHEREAS, the applicable consolidated oversight board overseeing this Successor Agency is called the Orange Countywide Oversight Board ("Oversight Board"); and WHEREAS, every oversight board, both the prior local oversight board and this newly established Oversight Board, has fiduciary responsibilities to the holders of enforceable obligations and to the taxing entities that benefit from distributions of property tax and other revenues pursuant to Section 34188 of the Dissolution Law; and WHEREAS, Sections 34177(m), 34177(o) 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 of California, Department of Finance ("DOF"); and WHEREAS, Section 34177(o) of the Dissolution Law requires that the annual ROPS for the 19-20 A -B fiscal period of July 1, 2019 to June 30, 2020 ("ROPS 19-20 A - Successor Agency Resolution No. 19-06 Page 1 of 9 B") shall be submitted to the DOF by the Successor Agency, after approval by the Oversight Board, no later than February 1, 2019; and WHEREAS, Section 341770) of the Dissolution Law requires the Successor Agency to prepare an administrative budget and submit it to the Oversight Board for approval; and WHEREAS, the ROPS 19-20 A -B, in the form required by DOF, is attached as Exhibit A and the Fiscal Year ("FY") 2019-20 Administrative Budget is attached as Exhibit B, and both attachments are fully incorporated by this reference; and WHEREAS, the Successor Agency has reviewed the ROPS 19-20 A -B along with the FY 2019-20 Administrative Budget and desires to approve this schedule and to authorize and direct the Successor Agency staff to transmit the BOPS 19-20 A -B to the Oversight Board, with copies to the Orange County Administrative Officer ("CAO"), Orange County Auditor -Controller ("CAC"), the State Controller's Office ("SCO") and DOF as required by Dissolution Law; and WHEREAS, the Successor Agency shall post the ROPS 19-20 A -B on the City/Successor Agency website www.costamesaca.gov. 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. The Successor Agency approves BOPS 19-20 A -B submitted herewith as Attachment 1, along with the FY 19-20 administrative budget that is included therewith, which schedule is incorporated herein by this reference, all under the requirements of the Dissolution Law; provided however, that the BOPS 19-20 A -B is approved subject to the condition such BOPS 19-20 A -B is to be transmitted to the Oversight Board for review and approval and a copy of such ROPS 19-20 A -B shall concurrently be sent to the CAO, CAC, SCO, and DOF. Further, the Finance Director (and her authorized designee), in consultation with legal counsel, shall be authorized to request and complete meet and confer session(s), if any, 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 BOPS 19-20 A -B again to the CAC, SCO and DOF. Section 4. The Finance Director of the Successor Agency or her authorized designee is directed to post this Resolution, including the ROPS 19-20 A -B, on the City/Successor Agency website (www.costamesaca.gov) under the Dissolution Law. Section 5. The Secretary of the Successor Agency shall certify to the adoption of this Resolution. APPROVED AND ADOPTED this 15th day of January 2019. Successor Agency Resolution No. 19-06 Page 2 of 9 APPROWD AS TO /tom GSL Celeste Stahl Brady, Special Counsel ATTEST: Katrina oley,C it/' Successdr Aae oto the Costa Mesa ,,development Agency Successor Agency Resolution No. 19-06 Page 3 of 9 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 15th day of January 2019, and that it was so adopted by the following vote: AYES: BOARD MEMBERS: CHAVEZ, GENTS, MANSOOR, MARK, REYNOLDS, STEPHENS, FOLEY. NOES: BOARD MEMBERS: NONE ABSENT: BOARD MEMBERS: NONE 111'zramaa-ay,� ff'renda Green, ecretary Successor Agency to the Costa Mesa Redevelopment Agency Successor Agency Resolution No. 19-06 Page 4 of 9 ATTACHMENT 1 to Successor Agency Resolution No. 19-06 RECOGNIZED OBLIGATION PAYMENT SCHEDULE 19-20 A -B FOR PERIOD JULY 1, 2019 TO JUNE 30, 2020, WITH FY 19-20 ADMINISTRATIVE BUDGET (attached) Successor Agency Resolution No. 19-06 Page 5 of 9 Recognized Obligation Payment Schedule (ROPS 19-20) - Summary Filed for the July 1, 2019 through June 30, 2020 Period Successor Agency: Costa Mesa County: Orange 19-20A Total 19-20B Total Current Period Requested Funding for Enforceable Obligations (ROPS Detail) (July - December) (January -June) ROPS 19-20 Total A Enforceable Obligations Funded as Follows (B+C+D): B Bond Proceeds C Reserve Balance D Other Funds E Redevelopment Property Tax Trust Fund (RPTTF) (F+G): F RPTTF G Administrative RPTTF H Current Period Enforceable Obligations (A+E): 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 Obligation Payment Schedule for the above named successor agency. $ 1,341,008 $ 14,987 $ 1,355,995 1,326,021 - 1,326,021 14,987 14,987 29,974 $ 1,341,008 $ 14,987 $ 1,355,995 KATRINA FOLEY CHAIR Name Title /s/ JANUARY 17, 2019 Signature Date Successor Agency Resolution No. 19-06 Page 6 of 9 Costa Mesa Recognized Obligation Payment Schedule (ROPS 19-20) - Report of Cash Balances July 1, 2016 through June 30, 2017 (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 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 Cash Balance Tips sheet. A B C D E F G H Fund Sources Bond Proceeds Reserve Balance Other Funds RPTTF Prior ROPS RPTTF and Reserve Rent, Non -Admin ROPS 16-17 Cash Balances Bonds issued on or Bonds issued on or Balances retained for Grants, and (07/01/16 - 06/30/17) before 12/31/10 after 01/01/11 future period(s) Interest, etc. Admin Comments 1 Beginning Available Cash Balance (Actual 07/01/16) RPTTF amount should exclude "A" period distribution amount Prior ROPS RPTTF. $621- 15-16A ROPS excess cash 704,404 0 606 1,671 $1,050- 15-16B ROPS excess cash 2 Revenue/Income (Actual 06/30/17) RPTTF amount should tie to the ROPS 16-17 total distribution from the AB 1484 requires 201/. ($162,275) of any loan County Auditor -Controller repayment to be deducted from loan repayment amount ($696,062) and transferred to LMI- 586 27 1,733.033 Housing Assets Fund per HSC 34191.4 (s)(2)( c 3 Expenditures for ROPS 16-17 Enforceable Obligations (Actual 06/30/17) Total expenditures Successor Agency incurred 696,768 115 1.731,983 in FY16-17 was $2.428.866 4 Retention of Available Cash Balance (Actual 06/30/17) RPTTF amount retained should only include the amounts distributed as reserve for future penod(s) 6 ROPS 16-17 RPTTF Prior Period Adjustment RPTTF amount should be to the Agency's ROPS 16-17 PPA form submitted to the CAC 6 Ending Actual Available Cash Balance (06/30/17) C to F = (1 + 2 - 3 - 4), G = (1 + 2 - 3 - 4 - 5) $621- 15 16A ROPS excess cash $1,050- 15-16B ROPS excess cash $1,050- 16-17 ROPS excess cash $ 8,222 $ 0 $ 0 $ 518 $ 2,721 Successor Agency Resolution No. 19-06 Page 8 of 9 SUCCESSOR AGENCY ADMINISTRATIVE BUDGET 07/01/2019-06/30/2020 Personnel Expenditures Department City Manager Office Finance Finance Position City Clerk Accounting Supervisor Assistant Finance Director Other Administrative Expenditures Department Activi Finance Accounting/Audit Services Development Services Legal - Stradling Yocca Carlson & Rauth Total Other Expenditures Estimated as of December 2018 Total Personnel Expenditures Annual Personnel Costs 07/01/2019 - 06/30/2020 $ 4,314 3,623 5,037 12,974 Percent to Annual Other Costs Annual Successor 07/01/2019 - Other Costs Agency Admin 06/30/2020 3,000 100% 3,000 14,000 100% 14,000 17,000 Total Annual Administrative Budget Successor Agency Resolution No. 19-06 Page 9 of 9 $ 29,974 Percent to Annual Wages, Successor Benefits, etc. ' Agency Admin 215,679 2% 181,173 2% 251,830 2% Total Personnel Expenditures Annual Personnel Costs 07/01/2019 - 06/30/2020 $ 4,314 3,623 5,037 12,974 Percent to Annual Other Costs Annual Successor 07/01/2019 - Other Costs Agency Admin 06/30/2020 3,000 100% 3,000 14,000 100% 14,000 17,000 Total Annual Administrative Budget Successor Agency Resolution No. 19-06 Page 9 of 9 $ 29,974