HomeMy WebLinkAbout2021-02 - Successor Agency ResolutionSUCCESSOR AGENCY RESOLUTION NO.2021-02
A RESOLUTION OF THE SUCCESSOR AGENCY TO THE COSTA MESA
REDEVELOPMENT AGENCY APPROVING THE RECOGNIZED
OBLIGATION PAYMENT SCHEDULE FY 2021-22 FOR THE ANNUAL
FISCAL PERIOD OF JULY 1, 2021 TO JUNE 30, 2022, 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, the Successor Agency to the Costa
Mesa Redevelopment Agency ("Successor Agency") administers the enforceable
obligations of the former Agency and otherwise dissolves the former Agency's affairs, all
subject to the review and approval by a seven -member oversight board; and
WHEREAS, under Section 341790) 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 the
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 21-22 A-B fiscal period of July 1, 2021 to June 30, 2022 ("ROPS FY 2021-
22") shall be submitted to the DOF by the Successor Agency, after approval by the
Oversight Board, no later than February 1, 2021; and
WHEREAS, the ROPS FY 2021-22, in the form required by DOF, is attached as
Exhibit A and fully incorporated by this reference; and
WHEREAS, the Successor Agency has reviewed the ROPS FY 2021-22 and
desires to approve this schedule and to authorize and direct the Successor Agency staff
to transmit the BOPS FY 2021-22 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 BOPS FY 2021-22 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 ROPS FY 2021-22 submitted herewith as
Attachment 1, under the requirements of the Dissolution Law; provided however, that the
ROPS FY 2021-22 is approved subject to the condition such ROPS FY 2021-22 is to be
transmitted to the Oversight Board for review and approval and a copy of such BOPS FY
2021-22 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 ROPS FY 2021-22 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 BOPS FY 2021-22, 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.
Resolution No. 2021- 02 Page 2 of 5
APPROVED AND ADOPTED THIS 19th DAY OF JANUARY 2021.
Ka , Chair
Succe sor Agency to the Costa Mesa
Redev opment Agency
ATTEST:
1 ��v
Brenda Green, Se etary
Successor Agency to the Costa Mesa Redevelopment Agency
APPROVED AS TO FORM
Kimberly Hall Barlow,
Successor Agency Counsel
Resolution No. 2021- 02 Page 3 of 5
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 19th day of January 2021, and
that it was so adopted by the following vote:
AYES: COUNCIL MEMBERS: CHAVEZ, GAMEROS, HARLAN, HARPER,
REYNOLDS, MARK, AND FOLEY
NOES: COUNCIL MEMBERS: NONE
ABSENT: COUNCIL MEMBERS: NONE
(I jvV'-)
Brenda Green, Sk§retary
Successor Agency to the Costa Mesa Redevelopment Agency
Resolution No. 2021- 02 Page 4 of 5
EXHIBIT A
to Successor Agency Resolution No. 2021-02
RECOGNIZED OBLIGATION PAYMENT SCHEDULE FY 2021-22
FOR PERIOD JULY 1, 2021 TO JUNE 30, 2022
Recognized Obligation Payment Schedule (ROPS 21-22) - Summary
Filed for the July 1, 2021 through June 30, 2022 Period
Successor Agency: Costa Mesa
County: Orange
Current Period Requested Funding for Enforceable
Obligations (ROPS Detail)
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.
/s/
21-22A Total 21-22B Total ROPS 21-22
(July - (January - Total
December) June)
$ 1,905,703 $
1,905,703
$ 1,905,703 $
Katrina Foley
$ 1,905,703
1,905,703
$ 1,905,703
Mayor
Title
Date
Costa Mesa
Recognized Obligation Payment Schedule (ROPS 21-22) - ROPS Detail
July 1, 2021 through June 30, 2022
A
B
C
D
E
F
G
H
I
J
K
L M N O P
Q
R S I T I U I V
W
ROPS 21-22A (Jul - Dec)
ROPS 21-22B (Jan - Jun)
Item
Obligation
Agreement
Agreement
Project
Total
ROPS
21-22A
21-22B
Fund Sources
Fund Sources
#
Project Name
Type
Execution
Termination
Payee
Description
Area
Outstanding
Retired
21-22
Total
Total
Date
Date
Obligation
Total
Bond
Reserve
Other
RPTTF
Admin
Bond
Reserve
Other
RPTTF
Admin
Proceeds
Balance
Funds
RPTTF
Proceeds
Balance
Funds
RPTTF
$5,297,468
1$1,905,703
$-
$-
$-
$1.905,703
$
$1,905,703$-
6
Promissory
City/County
09/30/
06/30/2024
City of
Original
Downtown
5,297,468
N
$1,905,703
-
-
1,905,703
-
$1,905,703
-
$
Note Payable
Loan (Prior
1971
Costa
Loan to
06/28/11),
Mesa
establish
Cash
RDA
exchange
37
Administrative
Admin
01/01/
06/30/2024
Not
Not
Downtown
N
$-
-
-
$
$-
Cost
Costs
2012
provided
provided
Costa Mesa
Recognized Obligation Payment Schedule (ROPS 21-22) - Report of Cash Balances
July 1, 2018 through June 30, 2019
(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.
A
B
C
D
E
F
G
H
Fund Sources
Bond Proceeds
Reserve Balance
Other Funds
RPTTF
Prior ROPS
ROPS 18-19 Cash Balances
RPTTF and
Comments
(07/01118 - 06130/19)
Bonds issued
Bonds issued
Reserve
Rent, grants,
Non-Admin
on or before
on or after
Balances retained
interest, etc.
and Admin
12/31/10
01/01/11
for future
period(s)
1
Beginning Available Cash Balance (Actual 07101118)
8,222
519
13,221
Prior ROPS excess cash: $621 from 15-16A;
RPTTF amount should exclude "A" period distribution
$1050 from 15-166; $1,050 from 16-176;
amount.
$7,500 from 17-18A; $3,000 from 17-18A.
2
Revenuelincome (Actual 06130/19)
1,211,203
AB1484 requires 20% ($240,590.58) of loan
RPTTF amount should be to the ROPS 18-19 total
repayment ($1,202,953) to be transferred to
distribution from the County Auditor -Controller
Low and Moderate Income Housing Asset
Fund per HSC 34191.4(s)(2)(c).
3
Expenditures for ROPS 18-19 Enforceable Obligations
1,208,203
Successor Agency's FY 18/19 total
(Actual 06/30/19)
expenditures and loan repayments.
4
Retention of Available Cash Balance (Actual 06/30119)
RPTTF amount retained should only include the amounts
distributed as reserve for future period(s)
5
ROPS 18-19 RPTTF Prior Period Adjustment
RPTTF amount should be to the Agency's ROPS 18-19 PPA
No entry required
form submitted to the CAC
6 1
Ending Actual Available Cash Balance (06130/19)
$8,222
$-
$-
$519
$16,221
Prior ROPS excess cash: $621 from
C to F = (1 + 2 - 3 - 4), G = (1 + 2 - 3 - 4 - 5)
15-16A; $1050 from 15-1613; $1,050 from
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.
A
B
C
D
E
F
G
H
Fund Sources
Bond Proceeds
Reserve Balance
Other Funds
RPTTF
Prior ROPS
ROPS 18-19 Cash Balances
RResePTTF and
Comments
(07/01/18 - 06130/19)
Bonds issued
Bonds issued
Reserve
Rent, grants,
Non-Admin
on or before
before
on or after
Balances retained
interest, etc.
and Admin
12r
01o01/11
for future
period(s)
16-17B; $7,500 from 17-18A; $3,000 from
17-18A; $3,000 from 18-19A.
Costa Mesa
Recognized Obligation Payment Schedule (ROPS 21-22) - Notes
July 1, 2021 through June 30, 2022
Item # Notes/Comments
6
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37