HomeMy WebLinkAbout2023-01 - Successor Agency (ROPS)SUCCESSOR AGENCY RESOLUTION NO. 2023-01
A RESOLUTION OF THE SUCCESSOR AGENCY TO THE COSTA MESA
REDEVELOPMENT AGENCY APPROVING THE RECOGNIZED OBLIGATION
PAYMENT SCHEDULE FY 2023-24 FOR THE ANNUAL FISCAL PERIOD OF JULY 1,
2023 TO JUNE 30, 2024, 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 2023-24 A-B fiscal period of July 1, 2023 to June 30, 2024 ("ROPS FY
Resolution No. 2023-01 Page 1 of 5
2023-24") shall be submitted to the DOF by the Successor Agency, after approval by the
Oversight Board, no later than February 1, 2023; and
WHEREAS, the ROPS FY 2023-24, 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 2023-24 and
desires to approve this schedule and to authorize and direct the Successor Agency staff
to transmit the ROPS FY 2023-24 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 FY 2023-24 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 2023-24 submitted herewith as
Attachment 1, under the requirements of the Dissolution Law; provided however, that the
ROPS FY 2023-24 is approved subject to the condition such ROPS FY 2023-24 is to be
transmitted to the Oversight Board for review and approval and a copy of such ROPS FY
2023-24 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 2023-24 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 FY 2023-24, 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. 2023-01 Page 2 of 5
APPROVED AND ADOPTED this 17th day of January 2023.
Stephens, Chair
Successor Agency to the Costa Mesa
Redevelopment Agency
ATTEST:
Brenda Greek Secretary
Successor Agency to the Costa Mesa
Redevelopment Agency
APPROVED AS TO FORM
Kknberly 14all Barlow,
Successor Agency Counsel
Resolution No. 2023-01 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, DO HEREBY CERTIFY that the above and foregoing is the
original of Resolution No. 2023-01 and was duly passed and adopted by the Successor
Agency at a regular meeting held on the 17t' day of January 2023, and that it was so
adopted by the following vote:
AYES: COUNCIL MEMBERS: CHAVEZ, GAMEROS, HARPER, MARR, REYNOLDS,
HARLAN, AND STEPHENS.
NOES: COUNCIL MEMBERS: NONE.
ABSENT: COUNCIL MEMBERS: NONE.
ABSTAIN: COUNCIL MEMBERS: NONE.
am& W--
Brenda Green, cretary
Successor Agency to the Costa Mesa
Redevelopment Agency
Resolution No. 2023-01 Page 4 of 5
EXHIBIT A
to Successor Agency Resolution No. 2023-01
RECOGNIZED OBLIGATION PAYMENT SCHEDULE FY 2023-24
FOR PERIOD JULY 1, 2023 TO JUNE 30, 2024
Resolution No. 2023-01 Page 5 of 5
Attachment 2
Recognized Obligation Payment Schedule (ROPS 23-24) -
Summary Filed for the July 1, 2023 through June 30, 2024 Period
Successor Agency: Costa Mesa
County: Orange
Current Period Requested Funding for Enforceable
Obligations (ROPS Detail)
23-24A Total 23-24B Total
(July - (January -
December) June)
ROPS
23-24 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)
$1,710,066 $ -
$ 1,710,056
F RPTTF
1,710,056 -
1,710,056
G Administrative RPTTF
- -
-
H Current Period Enforceable Obligations (A+E)
$1,710,066 $ -
$ 1,710,066
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/
Name Title
Date
Costa Mesa
Recognized Obligation Payment Schedule (ROPS 23-24) - ROPS
Detail July 1, 2023 through June 30, 2024
A
B
C
D
E
F
G
T H
1 J
K
L r M f N O 1 P
Q
R J S I T I U L V
W
ROPS 22-23A (Jul - Dec)
ROPS 22-23B (Jan - Jun)
Item
Project
Obligation Type
Agreement
Execution
Agreement
Termination
Payee
Description
Project
Total
Outstanding Retired
ROPS
23-24
23-24A
23-24B
Fund Sources
Fund Sources
Bond
Reserve
Other
RPTTF
Admin
Bond
Reserve
I Other
RPTTF
Admin
#
Name
Date
Date
Area
Obligation
Total
Total
owl
Proceeds
Balance
Funds
RPTTF
Proceeds
Balance
Funds
RPTTF
$ 1,710,056
$1,710,056
$-
$-
$-
$1,710,056
$-
$1,710,056
$-
$-
$-
$-
$
$
6
Promissory
City/County
09/30/
06/30/2024 jCity of
Original
Downtown
N
$1,710.056
-
-
-
1,710.056
-
$1,710,056
-
$
Note
Loan (Prior 061
1971
1 Costa
Loan to
Payable
28/11), Cash
(Mesa
jestablish
exchange
j
RDA
Costa Mesa
Recognized Obligation Payment Schedule (ROPS 23-24) - Report of Cash
Balances July 1, 2020 through June 30, 2021
(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 20-21 Cash Balances
(07/01/20 - 06/30/21)
Bonds issued
Bonds issued
RPTTF and
Comments
on or before
on or after
Reserve
Rent, grants,
Non-Admin
12/31/10
01/01/11
Balances retained
interest, etc.
and Admin
for future
period(s)
1
Beginning Available Cash Balance (Actual 07/01/20)
23,912
Prior ROPS excess cash
RPTTF amount should exclude "A" period distribution
amount.
2
Revenue/Income (Actual 06/30121)
1,270,134
AB1484 requires 20% ($254,027) of loan
RPTTF amount should tie to the ROPS 20-21 total
repayment ($1,270,134) to be transferred
distribution from the County Auditor -Controller
to Low and Moderate Income Housing
Asset Fund per HSC 34191.4(s)(2)(c).
3
Expenditures for ROPS 20-21 Enforceable Obligations
1,291,045
Successor Agency's FY 20/21 total
(Actual 06/30/21)
expenditures and loan repayments
4
Retention of Available Cash Balance (Actual 06/30/21)
RPTTF amount retained should only include the amounts
distributed as reserve for future period(s)
5
ROPS 20-21 RPTTF Prior Period Adjustment
RPTTF amount should tie to the Agency's ROPS 19-20 PPA
No entry required
form submitted tothe CAC
6 1
Ending Actual Available Cash Balance (06/30/21) C to F
$0
$-
$-
$0
$ 3 001
Prior ROPS excess cash
=(1 +2-3-4), G=(1 +2-3-4-5)
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 20-21 Cash Balances
(07/01/20 - 06/30/21)
Bonds issued
Bonds issued
RPTTF and
Comments
on or before
on or after
Reserve
Rent, grants,
Non-Admin
12/31/10
01/01/11
Balances retained
interest, etc.
and Admin
for future
period(s)
Costa Mesa
Recognized Obligation Payment Schedule (ROPS 23-24) -
Notes July 1, 2023 through June 30, 2024
Item # Notes/Comments
6