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Home My WebLink About12-59 - Approving the third recognized obligation payment schedule for the period January 1, 2013 to June 30, 2013 subject toSUCCESSOR AGENCY RESOLUTION NO. 12-59 A RESOLUTION OF THE SUCCESSOR AGENCY TO THE COSTA MESA REDEVELOPMENT AGENCY APPROVING THE THIRD RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD JANUARY 1, 2013 TO JUNE 30, 2013, 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, AS AMENDED BY ASSEMBLY BILL 1484; AUTHORIZE POSTING AND TRANSMITTAL THEREOF. WHEREAS, the Costa Mesa Redevelopment Agency ("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. ("CRL"), 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 chaptered and effective on June 27, 2012 (together, the "Dissolution Act"); and WHEREAS, as of February 1, 2012 the Agency was dissolved pursuant to the Dissolution Act and as a separate legal entity the City serves as the Successor Agency to the Costa Mesa Redevelopment Agency ("Successor Agency"); and WHEREAS, the Successor Agency administers the enforceable obligations of the former Agency and otherwise unwinds the 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 the initial meeting has 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 Act; 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; and WHEREAS, the Dissolution Act, as amended by AB 1484, in particular Section 34177(m) requires that the "Recognized Obligation Payment Schedule for the period of January 1, 2013, to June 30, 2013, shall be submitted by the successor agency, after approval by the oversight board, no later than September 1, 2012'; and WHEREAS, pursuant to Section 34179.6 added by AB 1484, the Successor Agency is required to submit a copy of the draft third ROPS to the County Administrative Officer ("CAO"), the County Auditor -Controller ("CAC"), the State Controller's Office ("SCO") and the State Department of Finance ("DOF) at the same time that the Successor Agency submits such draft ROPS to the Oversight Board for review; and WHEREAS, the Successor Agency has reviewed the draft third ROPS and desires to approve the draft third ROPS and to authorize the Successor Agency, to transmit the draft third ROPS to the Oversight Board and to also transmit a copy of such draft third ROPS to the cause posting of such ROPS on the Successor Agency website, and desires to direct transmittal of the third ROPS to the CAO, CAC, SCO, and DOF. 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 Act, the Successor Agency approves the third ROPS submitted herewith as Attachment 1, which schedule is incorporated herein by this reference; provided however, that the third ROPS is approved subject to the condition such ROPS is to be transmitted to the Oversight Board for review and approval and a copy of such draft third ROPS also concurrently be sent to the CAO, CAC, SCO, and DOF. Section 3. After approval by the Oversight Board, the Successor Agency authorizes transmittal of the third RODS again to the CAC, SCO and DOR Section 4. The Assistant Finance Director of the Successor Agency or an authorized designee is directed to post this Resolution, including the third BOPS, on the Successor Agency website pursuant to the Dissolution Act. Section 5. The City Clerk/Secretary of the Successor Agency shall certify to the adoption of this Resolution. PASSED AND ADOPTED this 2151 of August, 2012. Eric R. Bever, Chair ATTEST: APPROVED AS TO FORM: "A Brenda Green, Thomas a City Attorney Interim City Clerk/Secretary STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss CITY OF COSTA MESA ) I, BRENDA GREEN, Interim City Clerk/Secretary of the Successor Agency to the Costa Mesa Redevelopment Agency, DO HEREBY CERTIFY that the above and foregoing is the original of Resolution No. 12-59 and was duly passed and adopted by the Successor Agency to the Costa Mesa Redevelopment Agency at a regular meeting held on the 21St day of August, 2012, by the following roll call vote, to wit: AYES: AGENCY MEMBERS: BEVER, RIGHEIMER, LEECE, MENSINGER, MONAHAN NOES: AGENCY MEMBERS: NONE ABSENT: - AGENCY MEMBERS: NONE IN WITNESSWHEREOF, I have hereby set my hand and affixed the seal of the City of Costa Mesa this 22nd day of August, 2012. tl A BRENDA GREE INTERIM CITY CLERK/SECRETARY Successor Agency Contact Information Name of Successor Agency: Costa Mesa Redevelopment Agency County: Orange County Primary Contact Name: Primary Contact Title: Address Contact Phone Number: Contact E -Mail Address: Secondary Contact Name: Secondary Contact Title: Secondary Contact Phone Number: Secondary Contact E -Mail Address: Colleen O'Donoghue Assistant Finance Director 77 Fair Drive, Costa Mesa, CA 9262F- 714-754-5219 colleen.odonoghue c(Dcostamesaca.aov Bobby Young Finance & I.T. Director 714-754-5243 bobbv.vouna .costamesaca.aov SUMMARY OF RECOGNIZED OBLIGATION PAYMENT SCHEDULE Filed for the January 1, 2013 to June 30, 2013 Period Name of Successor Agency: Costa Mesa Redevelopment Agedcy Certification of Oversight Board Chairman: Jim Righeimer Chair Pursuant to Section 34177(m) of the Health and Safety code, Name Title I hereby certify that the above is a true and accurate Recognized Obligation Payment Schedule for the above named agency. Signature Date Total Outstanding Deb4 or Obli anon Outstanding Debtor Obligation $ 21 087,997= Current Period Outstanding Debt or Obligation Six -Month Total A B C D Available Revenues Other Than Anticipated RPTTF Funding Enforceable Obligations Funded with RPTTF Administrative Allowance Funded with RPTTF Total RPTTF Funded B + C = D a 458,338 125 000 — 583;378 E F Total Current Period Outstanding Debt or Obligation (A + B + C = E) Should be same amount as ROPS torr six-month total Enter Total Six -Month Anticipated RPTTF Funding Variance (D - E = F) Maximum RPTTF Allowable should not exceed Total Anticipated RPTTF Funding $ 583,3381 Prior Period (January 1, 2012 through June 30, 2012) Estimated vs. Actual Payments (as required in HSC section 34186 (a)) G H 1 J Enter Estimated Obligations Funded by RPTTF (Should be the same amount as RPTTF approved by Finance, including admin allowance) Enter Actual Obligations Paid with RPTTF Enter Actual Administrative Expenses Paid with RPTTF Adustment to Redevelopment Obligation Retirement Fund G - H + I = J 849,794 600,738 250,000 99) K Adjustment to RPTTF Certification of Oversight Board Chairman: Jim Righeimer Chair Pursuant to Section 34177(m) of the Health and Safety code, Name Title I hereby certify that the above is a true and accurate Recognized Obligation Payment Schedule for the above named agency. Signature Date e of $uCcessor A�elwy LOSTAF1ESq REOEVELapInFUTgGExcy Cpunty pOWNTOWN PROJECT PR OversigMamrtlg9gwal Pam: ,1011 RECOGNIZED OBLIGATION PAYMENT SCHEDULE (BOPS III) Tmal roue Oaa Funding Goprce Oauunbmg pn1g Conhatl/Pgreemen( CnnharJ/Agreement ..or F Near pooh Reserve " Mm Ha .IN .. l ..El Obti afion Erecution Oak Te,mination 0afe Pa a OesoipfionNmlecfSmpe pmlelt — UhlioaHpn 1011-13 IMIHF Pm¢e0s Balance ml-- RPTTF OMer Srt�N,onlfl iolal GnnJ iod $ .01.99 3. .959 a. E. - 3" - 8 iZ509D '3 0.58.338 S 'a % 593:339:. 1 TPB Re0m1v� Xim jambe ZS.NO3 ptloSwt,ZOIT eanduvx Ywe Benaaazwefwm,nmai pownmrvn 0tP.630,W 690,27i00 3a9.6ee 0<9 688 u" rerv� mrz5,zm3 a. pa.akre, 3,owao Cmvap,wOT9sur`e mber3s, zp93 p Sv sp0000 aa9 ml a.9w. µ1.201f On 2a00A0 Cmmha,ye„y is ]wnem Fee ftev Rd vvn 0 0.1. e �e �. J.��, f2H ]05.00 Z2O.0W00O se bmna. 1991 pwvmfam^ opp.00 1,,wp zamo:: +,zoo, on oa.mam, p,oao.op IPW9 .p9 s.0ap - pia a6Aoo.p9 fa,9o9 fe:99o: 5 nueecscc�dn.,ee� maz �2 f9 a rn - l„aee�eam,aa .rm ®rAmaa"N 5oo.co I i:. rm� 901 xewmlN mbefl lss 1< MOa m, Q, w reamrvmmw wp.p9 892500.W 125W.Lo crvinc�Wrvl 0 1991 � �a fanN" 2660.W 2660.00 12309 Eer1t 1991 - 5.335.00 - iv00 aneavae, am1.TNe1 ue memo 91 bFm6(or�mee 3500W NN111992 Cavi rt�NWnM 1z 10 >W 5 f 1931 5AWA0 Op ZS90 y5p9. 3 ymr-�yueludma lar pd+¢�s,�m1 Lm s mlof wvenanL miwtiee 3aAs luy �ca„AealAaw1f�59 8.1993 cna On o tlavG remm[tiai®WNmv atSW 110 Cmo LnN 1.1991 _ O^ D is eon:utii9 eyzvvarsw verems 993W 0500A0 c�P.¢-1patL.-- 11. lwl Q Btiw[agvrcas tinw„aauN ma,enlNmvxmnk dd96' 0 Na naed Ce 1iantlaeC— 3.390. 1Z em a�vtyuiuem(9�aptlll Ozcemhw _ D wvn vin _ o.53].W 2295 a Ma 10 f On ^ eyzclpwim Fl,wav ComuTfi re mvanans pomMwn ip0 Opo 1=All 5pp 3p p p'in's Cm,sLe�M 5 6r^herlf 19991 O^ suaWm Ywaeatmmsww, L,,OIA - enmfeev+anb pawnfwm 1000-00 1.000.00 590 a0o: 13 umm aWbtimomp m vanws B^Xb9.59 pn In ptlemm bnzm uvneaormr43 "z pwmlwm .. a,�n�e-reser s eeaeaanvam po.,amam sppm lwpppl lmnwy. (5 �1 ^°cen��-r saM c�o-eAoama am., zw.ao9o.99 dv+ G er Losq Mrsa CTysmRPayMi Cosh pevalmp5v¢DegeFrenm pep, dcesm Masa la.� z9,69p.. rta Main 3YR¢. LCosk of Nina s�v _ ve Losl-Pullin Ex Jaaa f], 2012 June^1].21113 prrvelwn piety Fam L1P tlmnryh wL AW .m - o^ n I Dm w 321 �1 17 t8 Name Of Sucf,,$Or Agency: COSTA META REDEVELOPMLNl AGENCY COVmy: OOWNFOWN PROJEC iPREA Pumuant to Health and Safety Code section 34186 (a) PRIOR PERIOD ESTIMATED OBLIGATIONS vs. ACTUAL PAYMENTS RECOGNIZED OBLIGATION PAYMENT SCHEDULE (BOPS 1) rnF .Erna. All. 21112 l-WCrm line P—o' Namel..I OLfgatfon Payee Descrip[ONPmjed Stype Pmied Ates LMIHF Bond Proceeds Re no Balance Admin NI—ce Estimate ACNaI Estimate Actual Estimate Actual Estimate A.1 RPTTF Esfmate I OYM1er ABlo1 Estimate ACNaI Grzntl Tebl $,'.. — -5 - 3 - $ 5 - 5 5230.0 '5252.330 6 593.7§4 S 6W.]36 5 5 P 1ROPI 1 T 3anFdNev YoiR uMtwnoMwus Downlwn T6011B ]6.006 mrm�ne rxawvw ttmsamae.Ann�al F=mIAa�IW Dow»mwn I me-eY Da.,ntwm mT` are Mvrw L(C 0 Downtoxn z.aoo 1 fi]s t ROP, la z emmlr PmPerMTa.aaren l 10—Z d cn,Cenu�wvi Downtom 23,aaa 2D66o P 1RDP1 3 fun pWn Se�vvv acn Duwnmwn 2.134 2f34 1 RDP I P DOvmmvm 1 ROP I S? Fva �e 9mwmvm PlRol 6 �(B. FI esa{DBG Funtl 6 OD— Downtown M"2 Sol1 1 ROP1 ] Dvs FNe L' Pmlea B rvz Fl. Ph. Downlawn Eleclrval woAbinslall li M1tin Downbwn • 1 ROP, I Si¢' caaebgY—oeoe R'uM Downlaxn 62 N3 my Downtown B,tv0 Y.ayzeeM fortreunn Cmvlti Downtown 31D00 B,6 1 ROP1 8 N Mu 4ousin Ci OF Fullenon AifobableM1wsin oect wm1..— /c —oh, .—t— Downbwn 321.316 319200 2 pv¢um'ynP Nawar m ae-DmvenanLs Fnantlal ConwlW re m Downtown t6.O4n 2fi 250 ymaamq Ye -a cmmnfl P.a Cooel At re enmtm 1of mvenanl5 21.200 619 1 ROP' tO 1901 Nawgn MauLng Ppett Pinh'eu Raallenld la bx-moats zs Damtwm L Fnan�o'al Consvltin r mofns with mvenants o—t— 1.330 2.300 s�isteapinN ig L., Ptmm xnm2vnenY of to—e6 Dwnmwn 1,668 10.001 P 1RDP1 tt F B,nIFIR016� DetemN loans b FRl B 11 1a1lase Of a In— Oownmwn 79I stodin, mn6 Ra CmM1 Atrom enbrcement a Cwenents C—te n 1. Pal ROP1 t215ngk Fanry ReliebditaNn FroBram 0—foon minC ,C—.re Newer Fnan�e2l C.—Dep mol cevwiLYrotenols Do—lo— 355 Otnc tld"Yo Ce—&Raavt LonbatlAtlome 5av :enhrcamelRof wvenank Davnbwn 3,455 1 HOP 13 Daxnwen mn as sonPoPo Fina ¢IL IRenre m Bance with mvenanl5 c Downmam 6,]5] ],260 sb 1,1 Old" Y—CYamn6'— Conlrxl Anom an(oal, entoi Downmwn 5.994 1.]36 Ill ROP1 P Dmmmwn I(grsa Marsmn Financ'ml Co suN ce x'io wvenank Dovmlaxn 4.117 min CozS loqa�Lam Snae6g Ye® LaM1mK Rauh COMtatl— _rnY—entofmvenanls Dmnne,e 250 1ROP1 tS Cu VYb3e5RV lCusts-ca—h Down,awn - ,mm ueyserwmnn m Fnanetal Ccnsultin re moliance'.vilb oe-nan6 Cownmum 2.330 590 stsfagal - Con tlAtlome s enlol<ementolwvmanls Downmwn 2.]60 0 1 ROP1 16 Casal Mesa Pam a1SnaRl) eo(R Vnil'Mule'taml R WRuiea Donn' wn 300 Neyser noaLl Lonsultin rz mofuncewilM1 covenants 250 —a.Pz-tom a.,. Y—nal—n `a ConLalAtloZ sm enloeam tof wve . Downtown 250 P 1ROP1 t] R DelerrM bammownerom wlremn r Downmwn Id-- Coffi�m Slrzd —1--tConI2cYAttame —1--t of meenen6 Dwnmwn 750 P 1ROP1 1.)iNaGbtlry HumrvTylSueiul mDevelmzrm Dmvnmvm Co,.a poo= s enforcement elmvenanfs I Dovmbnn 2650 Obligation Payee OescriptioNPryeci Scope Purled Area LMIHF BOntl Pmwetls MAd.m Estimate Avival Estmate ACWaIEs6maL= Allw.ance RMName/Debt ACWaI Estimate Adaal Estimate /4'ival 3 ROP1 i Atlmin Costs Payroll antl 011ier Mmin CaslS Cownlown -o4 ® rea oltosq weza 199p56 t96. G dCnm Masa nci 4penemrez Downbwn _ u nc�Ercmlwres Cawn:ow dcoamM� www®, oowerow� dcmm Masa .a�aM� oowmown c dcoae Mem ==1 am=emwre= oownlowe � C y�m�,yo Cwmtown ROPI 2 Om creuceiwnuv of Gsn Mao � W.9C4 9.542 ' dGstl Meo Coxmbxn C' o Oawntown d caro Ma.:a oowrlw.a o m - c ✓toes Meea oow to ,.ys �=a Cownimvn I m 7nhe V=n...crasaaro saiml. w�aw�a=m