HomeMy WebLinkAbout2024-07 - Successor Agency (ROPS)SUCCESSOR AGENCY RESOLUTION NO. 2024-07
A RESOLUTION OF THE SUCCESSOR AGENCY TO THE COSTA MESA
REDEVELOPMENT AGENCY APPROVING THE RECOGNIZED OBLIGATION
PAYMENT SCHEDULE FY 2024-25 FOR THE ANNUAL FISCAL PERIOD OF JULY 1,
2024 TO JUNE 30, 2025, 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 resolves 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 ROPE 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, 2024 to June 30, 2025 ("ROPS FY
Resolution No. 2024-07 Page 1 of 4
2024-25") shall be submitted to the DOF by the Successor Agency, after approval by the
Oversight Board, no later than February 1, 2024; and
WHEREAS, the ROPE FY 2024-25, 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 2024-25 and
desires to approve this schedule and to authorize and direct the Successor Agency staff
to transmit the BOPS FY 2024-25 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 ROPE FY 2024-25 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 RODS FY 2024-25 submitted herewith as
Attachment 1, under the requirements of the Dissolution Law; provided however, that the
ROPE FY 2024-25 is approved subject to the condition such ROPE FY 2024-25 is to be
transmitted to the Oversight Board for review and approval and a copy of such ROPE FY
2024-25 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 ROPE FY 2024-25 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 2024-25, 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. 2024-07 Page 2 of 4
PASSED AND ADOPTED this 201h day of February 2024.
ATTEST:
Brenda Green, ecretary
Successor Agency to the Costa Mesa
Redevelopment Agency
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF COSTA MESA )
Jo'hfi'--'Stephens, Chair
Successor Agency to the Costa Mesa
Redevelopment Agency
APPROVED AS TO FORM
- ' J4 �6 4,6,j
Kimberly all Barlow,
Successor Agency Counsel
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 201h day of February 2024, and
that it was so adopted by the following vote:
AYES: COUNCIL MEMBERS: CHAVEZ, GAMEROS, MARR, REYNOLDS, HARLAN,
AND STEPHENS.
NOES: COUNCIL MEMBERS: NONE.
ABSENT: COUNCIL MEMBERS: HARPER.
Brenda G'reen,Q$ecretary
Successor Agency to the Costa Mesa
Redevelopment Agency
Resolution No. 2024-07 Page 3 of 4
EXHIBIT A
to Successor Agency Resolution No. 2024-xx
RECOGNIZED OBLIGATION PAYMENT SCHEDULE FY 2024-25
FOR PERIOD JULY 1, 2024 TO JUNE 30, 2025
Resolution No. 2024-07 Page 4 of 4
EXHIBIT A
Recognized Obligation Payment Schedule (ROPE 24-25) - Summary
Filed for the July 1, 2024 through June 30, 2025 Period
Successor Agency: Costa Mesa
County: Orange
Current Period Requested Funding for Enforceable 24-25A Total 24-25B Total RODS 24-25
Obligations (ROPS Detail) (July - (January - Total
December) June)
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/
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Costa Mesa
Recognized Obligation Payment Schedule (ROPS 24-25) - Notes
July 1, 2024 through June 30, 2025
Item # Notes/Comments
6