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Home My WebLink About18-03 - Approving 18-19 A-B ROPSSUCCESSOR AGENCY RESOLUTION NO. 18-03 A RESOLUTION OF THE SUCCESSOR AGENCY TO THE COSTA MESA REDEVELOPMENT AGENCY APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE 18-19 A -B FOR THE ANNUAL FISCAL PERIOD OF JULY 1, 2018 TO JUNE 30, 2019, INCLUDING THE FISCAL YEAR 18-19 ADMINISTRATIVE BUDGET, SUBJECT TO SUBMITTAL TO, AND REVIEW BY THE OVERSIGHT BOARD AND THE DOF 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 that 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 wind 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, corporate and politic the Successor Agency to the Costa Mesa Redevelopment Agency ("Successor Agency") administers the enforceable obligations of the former Agency and otherwise unwinds the former Agency's affairs, all subject to the review and approval by a seven -member oversight board ("Oversight Board"); and Successor Agency Resolution No. 18-03 Page 1 of 10 WHEREAS, under Section 34179 the Successor Agency's Oversight Board was formed and its initial meeting 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 under Section 34188 of Part 1.85 of the Dissolution Law; and WHEREAS, Sections 34177(m), 34177(0) 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 Department of Finance ("DOF"); and WHEREAS, Section 34177(0) of the Dissolution Law requires that the annual ROPS for the 18-19 A -B fiscal period of July 1, 2018 to June 30, 2019 ('BOPS 18-19 A- B") be submitted to the DOF by the Successor Agency, after approval by the Oversight Board, no later than February 1, 2018; and WHEREAS, under Sections 34179.6 and 34177(k)(2)(B) of the Dissolution Law, the Successor Agency is required to submit a copy of the ROPS 18-19 A -B to the County Administrative Officer ("CAO"), the County Auditor -Controller ("CAC"), the State Controller's Office ("SCO") and the DOF at the same time that the Successor Agency submits such ROPS to the Oversight Board for review; and WHEREAS, the Successor Agency has reviewed ROPS 18-19 A -B, including the administrative budget for Fiscal Year 18-19, submitted herewith and desires to approve the ROPS and authorize Successor Agency staff, to transmit the ROPS to the Oversight Successor Agency Resolution No. 18-03 Page 2 of 10 Board for review and action and send copies of such ROPS to the CAO, CAC, SCO and DOF; and WHEREAS, the Successor Agency shall post the ROPS 18-19 A -B 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 18-19 A -B submitted herewith as Attachment 1, along with the Fiscal Year 18-19 administrative budget that is included therewith, which schedule is incorporated herein by this reference, all under the requirements of the Dissolution Law; provided however, that the ROPS 18-19 A -B is approved subject to the condition such ROPS 18-19 A -B is to be transmitted to the Oversight Board for review and approval and a copy of such ROPS 18-19 A -B 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 18-19 A -B again to the CAC, SCO and DOF. Successor Agency Resolution No. 18-03 Page 3 of 10 Section 4. The Finance Director of the Successor Agency or an authorized designee is directed to post this Resolution, including the ROPS 18-19 A -B, 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. APPROVED AND ADOPTED this 16t' day of January 2018. Sandra L. Genis, Chair Successor Agency to the Costa Mesa Redevelopment Agency APPROVED AS TO FORM: , Special Counsel ATTEST: Brenda Green, Secretary Successor Agency to the Costa Mesa Redevelopment Agency Successor Agency Resolution No. 18-03 Page 4 of 10 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 16th day of January 2018, and that it was so adopted by the following vote: AYES: BOARD MEMBERS: FOLEY, RIGHEIMER, STEPHENS, MANSOOR, GENIS NOES: BOARD MEMBERS: NONE ABSENT: BOARD MEMBERS: NONE IN WITNESS WHEREOF, I have hereby set my hand and affixed the seal of the City of Costa Mesa this 17th day of January, 2018. &n 4L 4r2� Brenda Green, Secretary Successor Agency to the Costa Mesa Redevelopment Agency Successor Agency Resolution No. 18-03 Page 5 of 10 ATTACHMENT to Successor Agency Resolution No. 18-03 RECOGNIZED OBLIGATION PAYMENT SCHEDULE 18-19 A -B FOR PERIOD JULY 1, 2018 TO JUNE 30, 2019, WITH FY 18-19 ADMINISTRATIVE BUDGET Successor Agency Resolution No. 18-03 Page 6 of 10 SUCCESSOR AGENCY ADMINISTRATIVE BUDGET 0710112018-0613012019 Personnel Expenditures Other Administrative Expenditures for period 0710112018-0613012019 Department Finance Development Services Development Services Development Services Admin Services Activity Accounting/Audit Services Legal - Stradling Yocca Carlson & Rauth Lawsuit Legal - Enterprise Counsel Group Consulting Central Services & Postage Total Other Expenditures * Estimated as of December 2017 Total Personnel Expenditures Annual Successor Agency Percent to Admin Costs Percent to 07/01/2018 - $ 43,413.80 Annual Wages, Successor Department Position $ Benefits, etc. * Agency Admin City Manager Office City Clerk $ 217,069.00 20% City Manager Office Deputy City Clerk $ 128,147.00 5% Finance Accounting Specialist II $ 110,956.00 5% Finance Budget Analyst $ 164,562.00 5% Finance Accounting Supervisor $ 168,511.00 20% Finance Asst Fin Director $ 242,416,00 20% Other Administrative Expenditures for period 0710112018-0613012019 Department Finance Development Services Development Services Development Services Admin Services Activity Accounting/Audit Services Legal - Stradling Yocca Carlson & Rauth Lawsuit Legal - Enterprise Counsel Group Consulting Central Services & Postage Total Other Expenditures * Estimated as of December 2017 Total Personnel Expenditures Annual Successor $ 145,782.45 Agency Percent to Admin Costs Annual Costs 07/01/2018 - $ 43,413.80 $ 6,407.35 $ 5,547.80 $ 8,228.10 $ 33, 702.20 $ 48,483.20 $ 145,782.45 Total Annual Administrative Budget Successor Agency Resolution No. 18-03 Page 7 of 10 $ 250,000.00 Annual Successor Percent to Annual Costs Agency Successor 0710112018 - Admin Costs Agency Admin 06/30/2019 $ 7,875.00 100% $ 7,875.00 $ 80,000.00 100% $ 80,000.00 $ 15,500.00 100% $ 15,500.00 $ 750.00 100% $ 750.00 $ 92.55 100% $ 92.55 $ 104,217.55 $ 104,217.55 Total Annual Administrative Budget Successor Agency Resolution No. 18-03 Page 7 of 10 $ 250,000.00 Recognized Obligation Payment Schedule (ROPS 18-19) -Summary Filed for the July 1, 2u18 through June 30, 2019 Period Successor Agency: Costa Mesa County: Orange Current Period Requested Funding for Enforceable Obligations (ROPS Detail) 18-19A Total 18-198 Total (July - December) (January -June) ROPS 18-19 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): $ 1,050,097 $ 728,006 $ - 1,178;097 F RPTTF - 925,097- "3,000 928,097 G Administrative RPTTF 125,000 125,000 250,000 H Current Period Enforceable Obligations (A+Ek $ 1,050,097 $ 128,000 $ 1,178,097 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. Jeff Trader, Vice -Chair Name Title rsr 1/25/18 Sign lure Date Successor Agency Resolution No. 18-03 Page 8 of 10 Costa Mesa Recognized Obligation Payment Schedule (ROPS 18-19) - Report of Cash Balances July 1, 2015 through June 30, 2016 (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 RODS, but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obligation. For tips on how to complete the Report of Cash Balances Form, see Cash Balance Tips Sheet A B C D E I F G H I Fund Sources Bond Proceeds Reserve Balance Other RPTTF Prior ROPS period balances Prior ROPS and RPTTF Bonds issued on Bonds issued on DDR RPTTF distributed as Rent, Non -Admin Cash Balance Information for ROPS 15-16 Actuals or before or after balances reserve for future grants, and 07/01115 -06130116 12/31/10 01/01/11 retained periods) interest, etc. Admin Comments 1 Beginning Available Cash Balance (Actual 07101115) $111,595 was listed as "Other' under Funding source. This amount was transferred to Costa Mesa Successor Agency from the City as of 12/31/14 based on Slate Controllers Office audit findings reported in Costa Mesa Redevelopment Agency Asset transfer review report dated 704,334 111,595 152,798 January 2015. 2 Revenuellncome (Actual 06130116) Other Funding source included $525.71 received RPTTF amounts should tie to the ROPS 15-16 total distribution from the from County of Orange on 12/15/15 per U. S. County Auditor -Controller during June 2015 and January 2016. Bankruptcy order and $81 investment interest earned in FY15-16. AB 1484 requires 20% ($162,275) of any loan repayment to be deducted from loan repayment amount ($811,375) and transferred to LMI- 70 606 1,113,232 Housing Assets Fund per HSC 34191.4 (s)(2)(c). 3 Expenditures for ROPS 15-16 Enforceable Obligations (Actual 06130116) Total expenditures Successor Agency incurred in 111,595 1,264,359 FY15-16 was $1,375,954 4 Retention of Available Cash Balance (Actual 06/30116) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 5 ROPS 15-16 RPTTF Balances Remaining No entry required 6 Ending Actual Available Cash Balance (06130116) CtoG=(1 +2-3-4), H=(1+2-3-4+5) $ 704,404 $ $ - $ $ 606 $ 1,671 Successor Agency Resolution No. 18-03 Page 10 of 10