HomeMy WebLinkAbout09 - CC-10 - AB936 Regarding Forgiveness of Loans - 2/7/2012CITY COUNCIL AGENDA REPORT
MEETING DATE: FEBRUARY 7, 2012 ITEM NUMBER:
SUBJECT: AB936 RESOLUTION REGARDING FORGIVENESS OF LOANS
DATE: FEBRUARY 2, 2012
FROM: FINANCE DEPARTMENT
PRESENTATION BY: BOBBY YOUNG, FINANCE & I.T. DIRECTOR
FOR FURTHER INFORMATION CONTACT: BOBBY YOUNG, (714) 754-5243
RECOMMENDATION
Adopt Resolutions concerning the forgiveness of loans, advances or other indebtedness.
BACKGROUND
Assembly Bill 936, which became effective on January 1, 2012, provides that by February 1,
2012, a redevelopment agency or a public body must adopt a resolution stating whether or not
from January 1, 2010 through December 31, 2011 the redevelopment agency or public body
has forgiven, wholly or partially, the repayment of any loans, advances or indebtedness owed to
or by the redevelopment agency, as appropriate.
In the event that such repayment has been forgiven, then the resolution must state the name of
the public body to which the agency owes the debt or from which the agency was due the debt,
the amount forgiven, the terms of the indebtedness, and the fiscal effect of the forgiveness on
the redevelopment agency and the public body. A copy of the resolution must be sent to the
City Council and the State Controller no less than ten days after adoption.
City Staff did not became aware of AB936 resolution requirement in time for the City Council or
Agency Board to consider and adopt the necessary resolutions. As of February 1, 2012, the
Costa Mesa Redevelopment Agency was abolished and the City of Costa Mesa was designated
as the successor agency to the Redevelopment Agency. Accordingly, the City is the
appropriate body to pass a resolution on behalf of the Redevelopment Agency's actions.
DISCUSSION
Staff has confirmed that from January 1, 2010 through December 31, 2011 neither the Agency
nor the City has forgiven, wholly or partially, repayment of any loans, advances or other
indebtedness owed to it by any public body, nor has any public body forgiven, wholly or partially,
repayment of any loans, advances or other indebtedness owed to it by the Agency or City.
Staff has prepared the attached resolutions for consideration by the City, as required by
Assembly Bill 936, to declare that no such forgiveness has occurred.
FISCAL REVIEW
There is no fiscal impact associated with the adoption of these Resolutions.
LEGAL REVIEW
The City Attorney's Office has approved the attached Resolutions as to form.
ALTERNATIVES CONSIDERED
There are no alternatives to the requirement to pass these Resolutions.
CONCLUSION
Staff recommends that the City Council adopt the Resolutions.
Bobby Young
Finance & I.T. Director
Attachments:
1. City Council Resolution
2. Redevelopment Agency Resolution
Attachment 1
RESOLUTION NO.
A RESOLUTION OF THE MAYOR AND CITY COUNCIL OF
THE CITY OF COSTA MESA REGARDING FORGIVENESS
OF LOANS TO PUBLIC BODIES AS REQUIRED BY AB
936
WHEREAS, Health & Safety Code Section 33354.8 requires the adoption, on or
before February 1, 2012, of a resolution stating whether or not the repayment, wholly or
partially, of a loan, advance, or indebtedness owed by a public body to a redevelopment
agency or by a redevelopment agency to a public body, has been forgiven during the
period of time commencing January 1, 2010 through December 31, 2011; and
WHEREAS, during the period of time commencing January 1, 2010 through
December 31, 2011, there were no loans, advances or indebtedness from the City of
Costa Mesa to any public body outstanding; and
WHEREAS, during the period of time commencing January 1, 2010 through
December 31, 2011, there were no loans, advances or indebtedness from any public
body to the City of Costa Mesa that were forgiven wholly or partially.
THE CITY COUNCIL OF THE CITY OF COSTA MESA HEREBY RESOLVES
AS FOLLOWS:
SECTION 1. During the period of time from January 1, 2010 through December
31, 2011, the City of Costa Mesa did not forgive, wholly or partially, any loans,
advances or indebtedness to any public body.
SECTION 2. During the period of time from January 1, 2010 through December
31, 2011, no public body forgave, wholly or partially, any loans, advances or
indebtedness to the City of Costa Mesa.
SECTION 3. The Costa Mesa City Clerk shall transmit a copy of this resolution
to the Office of the State Controller within 10 days of the adoption of this resolution.
SECTION 4. The City Clerk shall certify to the passage and adoption hereof.
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PASSED, APPROVED AND ADOPTED this 7th day of February, 2012, by the
following vote:
AYES:
COUNCIL MEMBERS:
NOES:
COUNCIL MEMBERS:
ABSENT:
COUNCIL MEMBERS:
GARY MONAHAN, MAYOR
ATTEST:
JULIE FOLCIK, CITY CLERK
APPROVED AS TO FORM:
THOMAS P. DUARTE, CITY ATTORNEY
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF COSTA MESA )
I, Julie Folcik, hereby certify that I am the duly appointed City Clerk of the City of
Costa Mesa and that the foregoing resolution was duly adopted at a regular meeting of
the City Council of the City of Costa Mesa held on the 7t" day of February, 2012.
Julie Folcik, City Clerk
0000-2
Attachment 2
RESOLUTION NO.
A RESOLUTION OF THE MAYOR AND CITY COUNCIL OF
THE CITY OF COSTA MESA AS SUCCESSOR AGENCY
TO THE COSTA MESA REDEVELOPMENT AGENCY
REGARDING FORGIVENESS OF LOANS TO PUBLIC
BODIES AS REQUIRED BY AB 936
WHEREAS, Health & Safety Code Section 33354.8 requires the adoption, on or
before February 1, 2012, of a resolution stating whether or not the repayment, wholly or
partially, of a loan, advance, or indebtedness owed by a public body to a redevelopment
agency or by a redevelopment agency to a public body, has been forgiven during the
period of time commencing January 1, 2010 through December 31, 2011; and
WHEREAS, as of February 1, 2012, the Costa Mesa Redevelopment Agency
was abolished; and
WHEREAS, pursuant to Health & Safety Code section 34177, the City Costa
Mesa assumed all rights, powers, duties and obligations, except for those related to
housing functions, of the Costa Mesa Redevelopment Agency; and
WHEREAS, during the period of time commencing January 1, 2010 through
December 31, 2011, there were no loans, advances or indebtedness from the Costa
Mesa Redevelopment Agency to any public body outstanding; and
WHEREAS, during the period of time commencing January 1, 2010 through
December 31, 2011, there were no loans, advances or indebtedness from any public
body to the Costa Mesa Redevelopment Agency that were forgiven wholly or partially;
and
THE CITY COUNCIL OF THE CITY OF COSTA MESA HEREBY RESOLVES
Ulu Igo] IWSI T&V
SECTION 1. During the period of time from January 1, 2010 through December
31, 2011, the Costa Mesa Redevelopment Agency did not forgive, wholly or partially,
any loans, advances or indebtedness to any public body.
SECTION 2. During the period of time from January 1, 2010 through December
31, 2011, no public body forgave, wholly or partially, any loans, advances or
indebtedness to the Costa Mesa Redevelopment Agency.
0000-1
SECTION 3. The City Clerk shall transmit a copy of this resolution to the Office of
the State Controller within 10 days of the adoption of this resolution.
SECTION 4. The City Clerk shall certify to the passage and adoption hereof.
PASSED, APPROVED AND ADOPTED this 7th day of February, 2012, by the
following vote:
AYES:
COUNCIL MEMBERS:
NOES:
COUNCIL MEMBERS:
ABSENT:
COUNCIL MEMBERS:
GARY MONAHAN, MAYOR
ATTEST:
JULIE FOLCIK, CITY CLERK
APPROVED AS TO FORM:
THOMAS P. DUARTE, CITY ATTORNEY
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF COSTA MESA )
I, Julie Folcik, hereby certify that I am the duly appointed City Clerk of the City of
Costa Mesa and that the foregoing resolution was duly adopted at a regular meeting of
the City Council of the City of Costa Mesa held on the 7t" day of February, 2012.
Julie Folcik, City Clerk
0000-2