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Home My WebLink About12-12 - Recognized Obligation Payment ScheduleRESOLUTION NO. 12-12 WHEREAS, the Costa Mesa Redevelopment Agency ("Agency") was established as a community redevelopment agency that was previously organized and existing under the California Community Redevelopment Law, Health and Safety Code Sections 33000, et seq. ("CRL"), and previously authorized to transact business and exercise the powers of a redevelopment agency pursuant to action of the City Council ("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 & Safety Code, which laws cause the dissolution and wind down of all redevelopment agencies ("Dissolution Act'); and WHEREAS, on December 29, 2011, in the petition California Redevelopment Association v. Matosantos, Case No. 5194861, the California Supreme Court upheld the Dissolution Act and thereby all redevelopment agencies in California were dissolved as of and on February 1, 2012 under the dates in the Dissolution Act that were reformed and extended thereby ("Supreme Court Decision"); and WHEREAS, the Agency is now a dissolved community redevelopment agency pursuant to the Dissolution Act; and WHEREAS, by a resolution considered and approved by the City Council at an open public meeting the City chose to become and serve as the "successor agency" to the dissolved Agency under the Dissolution Act; and WHEREAS, as of and on and after February 1, 2012, the City serves as the "Successor Agency" will perform its functions as the successor agency under the Dissolution Act to administer the enforceable obligations of the Agency and otherwise unwind the Agency's affairs, all subject to the review and approval by a seven-member Oversight Board formed thereunder; and WHEREAS, under Part 1.8 of the Dissolution Act, the Agency prior to its dissolution adopted an original and an amended enforceable obligation payment schedule ("EOPS') and authorized the City Manager and/or Finance Director or their authorized designee to augment or modify the FOPS and transmitted the EOPS to the City (to be serving as Successor Agency) and to the County Auditor-Controller, the Department of Finance and the State Controller's Office; and WHEREAS, under Part 1.8 of the Dissolution Act, the Agency prior to its dissolution adopted an initial recognized payment schedule ("IROPS") and authorized the City Manager and/or Finance Director or their authorized designee to augment or modify the IROPS and transmitted such IROPS to the City (to be serving as Successor Agency) and to the County Auditor-Controller, the Department of Finance and the State Controller's Office the City, serving as Successor Agency; and WHEREAS, pursuant Part 1.85 of the Dissolution Act, Section 34171(8), a "Recognized Obligation Payment Schedule" 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; and WHEREAS, pursuant to the dates in the Dissolution Act, Section 34177(k), as reformed by the Supreme Court Decision, every successor agency is required to consider and adopt a Recognized Obligation Payment Schedule by March 1, 2012, which, as attached to this Resolution, is comparable to the IROPS previously adopted by the former Agency; and WHEREAS, the City as Successor Agency has prepared its initial Recognized Obligation Payment Schedule ("ROPS"), appended as Attachment No. 1 to this Resolution and incorporated herein by this reference; and WHEREAS, by this Resolution, the City Council, serving as and on behalf of the Successor Agency, approves the ROPE and authorizes the transmittal of the ROPE to the Oversight Board when formed; and TTi*,EREAS, pursuant to Section 34177 a copy of the ROPS also is submitted Tom the County Auditor -Controller for review and certification, as to its accuracy, by an external auditor designated pursuant to Section 34182; and WHEREAS, pursuant to Section 34177 a copy of the ROPS also is submitted to the State Controller's Office and the Department of Finance and shall be posted on the Successor Agency's Internet Web site. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL SERVING AS THE SUCCESSOR AGENCY: Section 1. The foregoing recitals are incorporated into this resolution by this reference, and constitute a material part hereof. Section 2. The ROPS is approved together with such augmentation, modification, additions or revisions as the City Manager and/or the Finance Director or their authorized designees may make thereto. Section 3. The City Manager or his authorized designees on behalf of the Successor Agency shall cause the ROPS to be transmitted to the Oversight Board at such time as the Oversight Board has been established and to be transmitted to the County Auditor -Controller, the State Controller's Office, and the Department of Finance; further, the City Manager or his authorized designees on behalf of the Successor Agency shall cause the HOPS to be posted on the City's website. Section 4. This Resolution shall be effective immediately upon adoption. Section 5. The City Clerk on behalf of the Successor Agency shall certify to the adoption of this Resolution. PASSED AND ADOPTED this 21st day of February, 2012. Gary Monahan Mayor on behalf of Successor Aae!v ATTEST: APPROVED AS TO FORM: Julie olcik, City Clerk on Thomas Duae, City Attorney on behalf of behalf of Successor Agency Successor Agency STATE OF CALIFORNIA I OF ORANGE ss CITY OF COSTA MESA 1, JULIE FOLCIK, City Clerk of the City of Costa Mesa, DO HEREBY CERTIFY that the above and foregoing is the original of Resolution Nr and was duly passed and adopted by the City Council of the City of Costa Mesa serving as Successor Agency r special meeting held on the 21 st day of •ruary, 2012, by r r r roll call vote, to AYES: COUNCIL MEMBERS: MONAHAN, RIGHEIMER, BEVER, LEECE, MENSINGER NOES: COUNCIL MEMBERS: NONE ABSENT: COUNCIL MEMBERS: NONE IN WITNESS WHEREOF, 1 have hereby set my hand and affixed the seal of the City of Costa Mesa this 22nd day of February, 2012. Q tL JULI OLCIK, CITY CLERK ON BEHALF OF SUCCESSOR AGENCY (SEAL) Name of Redevelopment Agency: Costa Mesa Redevelopment Agency Pagel of _i_ Pages Project Area(s) Downtown Project Area Project Name 1 Debt Obligation Payee Description Total Outstanding Debt or Obligation Total Due During Fiscal Year Jan Payments by month Feb Mar Apr May June Total 1 TAB Refunding 2003 Bank of New York Bondsissued for non -housing meets 4,818,000.00 690,362.50 78,087.50 607,681.00 $ 685,768.50 2 contract for consmnn se Bank of New York Fiscal Agent Services 3,000.00 3,000.00 1,198.00 $ 1,1911 3 Empl ae Costs Erdto ees of CM RDA Payroll for employees 670,323.00 670,323.00 55,861.00 55,861.00 55,861m 55,861.00 55,861.00 55,861.00 $ 335,166.00 4 County Pecen, Tax Admin Fee County of Orange Charlie forMni,riadmtape taxssiam 40,000.00 40,000.00 20,000.00 $ 20,000.00 5 Couracttmemsaindgservmes IMmol, Hoffman, McCann Annual Audit Services 11,000.00 11,000.00 2,445.00 $ 2,445.00 6 Promissory Nice Feasible Cit of Costa Mesa Cup ri incl Loan to establish RDA 19,495,569.00 1,299,705.00 $ 7 mor iRevenue ,dement City of Costa Mesa-CDBG Remnunce of rental revenue imm CDBG houems ami 123,669.00 123,669.00 123,669.00 $ 123,669.00 8 Loan from CDBG Fund City of Costa Mesa-CDBG Loan from CDBG for housing project 161,613.00 10,204.00 10,204.00 $ 10,204.00 9 1901 Newport Housln Pae_ Fairfield Residential Assistance for low -mod housing project 892,500.00 892,500.00 892,500.00 $ 892,500.00 10 comraafor attome services Stradling,YoresCa,ison&Reath Contract Attorney services for RDA 75,000.00 75,000.00 10,000.00 10,000.00 10,000.00 10,000.00 5,000.00 5,000.00. $ 50,000.00 11 comra_tor ronsuuin services Keyser Marston Financial Consulting120,000.00 120,000.00 14,331.00 10,000.00 20,000.00 20,000.00 20,000.00 20,000.00 $ 104,331.00 12 Contra_ for mnswtin services Dam&Clark Euvlmmnental Environmental review services 15,000.00 15,000,00 15,000.00 $ 15,000.00 13 Conlra_for monnodn Ke er Marston Monaorin and seeming existing covenants and obli 15,000.00 15,000.00 15,000.00 $ 15,000AO 14 Davis Field Liqlona Proeic Dream Engineering Design work on Davis Field Pro ed 7,040.00 1,040.00 $ _ 15 Davis Held Lgham Project Musco Sports Lighting, LLC Uqhtlo2 equipment and stredures for pro 156,971.00 1 156,971.00 $ 16 Davis Field Lighting Prod_ Electrical R&M ContractingElectrical work to install lighting 335,000.00 335,000.00 24,099.74 $ _ 24,099 74 17 Davis Field Lihan Proe_ Green Product Sales Field restoration materials 25,000.00 25,000.00 25,000.00 $ 25,000.00 18 Davis Field L'htin Project MidoriGardens Inc Testis of field turf as required 8,379.00 8,379.00 $ 19 Nei hborhood SebastianP ram Mpro' rc Housin Affordable housingproject 360,000.00 360,000.00 360,000.00 $ _ 360,00000 20 21 22 23 24 25 $ Totals - This Page Totals - Page 2 Totals - Page 3 Totals - Page 4 Totals - Other Obligations Grand total -All Pa es$ $ 27,327,064.00 $ 4,852,153.50 $ 80,192.00 $ 991960.74 $ 188,948.50 $ 105,861.00 $ 80,861.00 $ 2,664,381.24 $ _ $ _ $ $ $ _ $ $ $ $ _ $ _ $ $ $ $ $ _ $ $ $ $ _ $ - $ _ $ _ $ $ $ - Is _ $ - $ _ $ $ _ $ _ $ _ 27,327,064.00 $ 4.852,151.56][I::80,192.00 $ do earn 7A $I 88,948.50 $ 105,861 00 $ 80,861 00 O $ 2,664,381 24