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Home My WebLink AboutResolution No. 11-R34RESOLUTION NO. 11-R34 A RESOLUTION OF THE CITY OF AZUSA REDEVELOPMENT AGENCY APPROVING AND ADOPTING AN ENFORCEABLE OBLIGATION PAYMENT SCHEDULE PURSUANT TO AB 1X 26 WHEREAS, pursuant to the Community Redevelopment Law (Health and Safety Code Sections 33000 et seq.), the City Council of the City of Azusa ("City") created the Redevelopment Agency of the City of Azusa ("Agency"); and WHEREAS, the Agency has been responsible for implementing the Redevelopment Plan(s) for the Merged Central Business District and West End Redevelopment Project Area and the Ranch Center Project Area covering certain properties within the City ("Project Area(s)"); and WHEREAS, on June 28, 2011, as part of the 2011-2012 State of California budget bill, companion bills Assembly Bill 1X 26 ("AB 1X 26") and Assembly Bill 1X 27 ("AB 1X 27") were enacted, which would dissolve the Agency, unless, the City adopts an ordinance to participate in the "Alternative Voluntary Redevelopment Program" established by AB 1X 27 and pay an annual "community remittance" payment to the County of Los Angeles; and WHEREAS, on July 18, 2011, a Petition for Writ of Mandate was filed in the Supreme Court of the State of California in the matter of California Redevelopment Association, et al. v. Ana Matosantos, et al., Case No. 5194861 ("Legal Action"), challenging the constitutionality of AB 1X 26 and AB 1X 27 on behalf of cities, counties and redevelopment agencies and requesting a stay of enforcement of AB IX 26 and AB IX 27, pending the Supreme Court's determination of the legality of AB 1X 26 and AB 1X 27; and WHEREAS, on August 11, 2011, the Supreme Court issued an order in the Legal Action granting a partial stay of AB 1X 26, exclusive of Health and Safety Code Sections 34161 through 34167 (which suspend new redevelopment activity), and a complete stay of AB 1X 27, such that the City and the Agency cannot currently pursue new redevelopment activity under the Alternative Voluntary Redevelopment Program (collectively, "Stay"); and WHEREAS, although the Supreme Court's order granted a stay of enforcement of Health and Safety Code Section 34169 requiring the Agency to adopt an Enforceable Obligation Payment Schedule ("EOPS"), the Supreme Court did not grant a stay of Health and Safety Code Section 34167, which provides that 60 days after the effective date of AB 1X 26 (August 27, 2011), the Agency shall not pay any obligation not set forth in an adopted EOPS; and WHEREAS, on August 17`h, the Supreme Court clarified its order and reconciled this discrepancy. All agencies are now required to adopt an EOPS by August 26, 2011. 99999.9145816852652.3 WHEREAS, because the Agency is now limited to only making payments on obligations listed in an adopted FOPS after August 27, 2011, while the Stay is in place, the Agency is acting to adopt an EOPS by this Resolution. NOW, THEREFORE, THE AZUSA REDEVELOPMENT AGENCY DOES HEREBY RESOLVE AS FOLLOWS: Section 1. Recitals. The Recitals set forth above are true and correct and are incorporated into this Resolution by this reference. Section 2. CEOA. Adoption of this Resolution is exempt from the requirements of the California Environmental Quality Act ("CEQA"), pursuant to State CEQA Guidelines (Title 14 California Code of Regulations Sections 15000, et seq.) Section 15061(b)(3), because it can be seen with certainty that adoption of the EOPS will not have a significant effect on the environment. The Agency Secretary is authorized and directed to file a Notice of Exemption with the appropriate official of the County of Los Angeles, California, within five (5) days following the date of adoption of this Resolution. Section 3. Approval of EOPS. The Agency hereby approves and adopts the EOPS, in substantially the form attached to this Resolution as Exhibit A, consistent with AB 1X 26. The Agency is approving and adopting the EOPS pursuant to this Resolution in an attempt to comply with California Health and Safety Code Section 34167(h), so that the Agency may continue to meet its existing obligations during the pendency of the Stay. Adoption of this Resolution is not intended to be an acknowledgment or commitment by the Agency to the eventual dissolution of the Agency. The Agency reserves its rights to challenge the constitutionality, legality, application, enforcement or effectiveness of AB 1X 26 at all times in the future. Also, the Agency has been required to act quickly in approving and adopting the EOPS because of the timing of the grant of the Stay. As a result, the Agency reserves its right to amend the EOPS in the future to make the FOPS more accurate. Further, the Agency does not intend to be bound by the EOPS, if AB 1 X 26 is invalidated by the Supreme Court, or the City of Azusa proceeds pursuant to the "Alternative Voluntary Redevelopment Program" established under AB 1X 27, if both AB 1X 26 and AB 1X 27 are upheld by the Supreme Court in the future. Section 4. Posting; Transmittal to Appropriate Agencies. The Executive Director is hereby authorized and directed to post a copy of the EOPS on the City's website. The Executive Director is further authorized and directed to transmit, by mail or electronic means, to the Los Angeles County Auditor -Controller, the State Controller and the State Department of Finance, notification providing the website location of the posted EOPS and other information consistent with AB 1X 26. 99999.91458\6852652.3 2 PASSED, APPROVED AND ADOPTED THIS 18th day of August, 2011. Agency Secretary seph R. Rocha Chairperson I, Vera Mendoza, Secretary of the Redevelopment Agency of the City of Azusa, do hereby certify that the foregoing Resolution No. 11-R34 was duly and regularly passed and adopted by the Redevelopment Agency of the City of Azusa at a meeting thereof held on the 18th day of August, 2011, and was carried by the following vote: AYES: COUNCILMEMBERS: GONZALES, MACIAS, ROCHA NOES: COUNCILMEMBERS: NONE ABSENT: COUNCILMEMBERS: NONE ABSTAIN: COUNCILMEMBERS: CARRILLO, HANKS Agency Secretary 99999.91458\6852652.3 3 EXHIBIT A ENFORCEABLE OBLIGATION PAYMENT SCHEDULE [Attached behind this cover page] 99999.9145816852652.3 REVISED EOP's SPREADSHEET RANCH CENTER PROJECT AREA AUGUST 18, 2011 Name . Redevelopment AgencC Azusa Redevelopment Agency Page 1 of 1 Pages Project Areas) Ranch Center Project Area REVISED 8-18-11 ENFORCEABLE OBLIGATION PAYMENT SCHEDULE Per AB 26 - Section 34167 and 34169 (`) Project Name / Debt Obligation Payee Description Total Outstanding Debt or Obligation Total Due During Fiscal Year Aug" Sept Payments by month Oct Nov Dec Total City L&W Enterprise Loan City of Azusa L&W Fund 25 -Year Secured Note - Revolvin 2,117,029.00 151,455.00 151,445.00 $151,445.00 _11 2 City Loan City of Azusa Unsecured Note - Due City 4,926,805.00 125,590.00 125,590.00 $125,590.00 3 Sales Tax Reimbursement Cil of Azusa Sales Tax Due Cit 1,508,508.00 15,880.00 15,880.00 $ 15,880.00 City L&W Enterprise Loan CRY of Azusa L&W Fund Advance/Rehabildalion Improvements 1,840,478.00 77,715.00 77,715.00 $ 77 715.00 4 ERAF City of Azusa Payment for ERAF 8,525.00 8,525.00 8,525.00 $ 8,525.00 5 $ 6 $ 7 $ 8 $ 9 $ ### $ ### $ t✓## $ W $ # # $ ### $ WW $ ### $ p $ # $ ### $ ##N $ IXkk $ #q $ ### $ k $ #tt# $ ### $ ># $ $ Totals - This Page Totals - Paget Totals - Page 3 Totals - Page 4 Totals- Other Obligations Grand total - All Pages $ 10,401345.00 $ $ $ $ 4309747.00 $ 14,711..092.0011 $ 379,165.00 $ $ $ $ $ $ $ $ 95,215.00 $ $ 474,380.00 11 $ $277035.00 $ $ $ $ $ $ $ $ $ $ $ $ $ $ ILLELo35.00j®®Fs $102,120.00 $ $ $ $ 47,607.50 1 149727.50 11 $379,155.00 $ $ $ $ 47,607.50 $426,762.50 This Enforceable Obligation Payment Schedule (EOPS) Is to be adopted by the redevelopment agency no later than late August. It is valid through 12/31111. It Is the basis for the Preliminary Draft Recognized Obligation Payment Schedule (ROPS), which must be prepared by the dissolving Agency by 9130111. (The draft ROPS must be prepared by the Successor Agency by 11/30/11.) If an agency adopts a continuation ordinance per AB%1 27, this EOPS will not be valid and there is no need to prepare a ROPS. Name of Redevelopment Agency Azusa Redevelopment Agency Page 1 of 1 Pages Project Area(s) Ranch Center Project Area REVISED 8.18-11 OTHER OBLIGATION PAYMENT SCHEDULE Per AB 26 - Section 34167 and 34169 (`) Project Name / Debt Obligation Payee Description Total Outstanding Debt or Obligation Total Due Dudng Fiscal Year Aug" Payments by month — Sept Oct Nov Dec Total 1 Pass Through Agreement Azusa Unified Pass Through 293,464.00 7,300.00 3,650.00 $ 3,650.00 2 Pass Through Areement Citrus College Pass Through 160373.00 1,225.00 612.50 $ 612.50 3 Pass Through Agreement LA County Admin Pass Through 3,855.910.00 86,690.00 43,345.00 $ 43,345.00 4 $ 5 $ 6 $ 7 $ 8 $ 9 $ 10 $ 11 $ 12 $ 13 $ 14 $ 15 $ 16 $ 17 $ 18 $ 19 $ 20 $ 21 $ 22 $ 23 $ 24 $ 25 $ 26 $ 27 $ 28 $ Totals - Other Obligations $ 4,309,747-00 $ 95 215.00 1 $ is I $ Is $ 47 607.50 1 $ 47 607.50 This Enforceable Obligation Payment Schedule (EOPSI Is to be adopted by the redevelopment agency no later than late August. It is valid through 12/31111. It Is the basis forthe Preliminary Draft Recognized Obligation Payment Schedule IROPS), which must be prepared by the dissolving Agency by 9/30/11. (The draft ROPS must be prepared by the Successor Agency by 11/30111.) If an agency adopts a continuation ordinance per AB%1 27, this EOPS will not be valid and there Is no need to prepare a ROPS. Include only payments to be made after the adoption of the EOPS. — All navment emmmts are eO m.fac REVISED EOP's SPREADSHEET MERGED CENTRAL BUSINESS DISTRICT & WEST END REDEVELOPMENT PROJECT AREA AUGUST 18, 2011 Name of Redevelopment Agency: Clly of Azusa Redevelopment Agency Project Areas) Merged Central Business District & West End Project Area ENFORCEABLE OBLIGATION PAYMENT SCHEDULE Per AB 26 - Section 34167 and 34169 1-) Page 1 at 2 Pages REVISED 8.18.11 9 on aymenl ehetlula (FOPS) Is to be adopted by the redevelopment agency no later than late August It Is valid through 12/31/11. It is the basis for the Preliminary Draft lProlectName/Debi Obligation P ee Descri tion Total Outstanding Debt or Obli ation Total Due During Fiscal Year Payment bymonth -'- Aug-- Set Oct Nov Dec Total 1 Tax Allocation Bontls Bond Holders2008 Series A Merged T.A. Bonds 14705231.00 575,190.00 575,190.00 $ 575190.00 2 Tax Allocation Bonds Bond Holders 2003 Merged T.A. Refunding Bonds 11,855,183.00 814,780.00 874,780.00 $ 814,780.00 3 Tax Allocation Bonds Band Holders 2005 Merged TA. Bonds 18 755.912.00 349,425.00 349,425.00 $ 349 425.00 4 Chy Advance City of Azusa Advance/577.645 Foothill/Krems Site 1,756,145.00 157950.00 78,975.00 $ 78,975.00 5 City Advance Citv of Azusa City Adv./Autodealershl 9,088,334.00 249.680.00 124,840.00 $ 124,840.00 6 Ci Advance City of Azusa City AdvAl9-621 N. Azusa aIle Bldg) 227,052.00 7,490.00 3,145.00 $ 3,745.00 7 Reimb Aureerrant Azusa Public Financing Authority Reimb Aral Refunding GOP's 4,437,007.00 357,590.00 176,795.00 $ 178,795.00 8 Housin Bontls Bond Holders 2008 Sense B HousingT.A. Bonds 25,499,067.00 816,535.00 408,267.50 $ 408,267.50 9 Tax Allocation Bonds Bond Holders 2007 Senes A Tax Allocation Bonds 28363,766.00 1,281,865.00 640932.50 $ 640,932.50 10 ITax Allocation Bonds Bond Holders 2007 Series B Tax Allocation Bonds 8,590,056.00 320425.00 160,212.50 $ 160,212.50 11 -Ml Advance RDA Low Mod Fund Low/Mod Adv./Block 36 Mixed Use 1,557,735.00 1,551,135.00 775567.50 $ 775,567.50 12 City Advance Chy L&W Fund City Adv./$450k/Azusa & 1st Reader Brd 499,425.00 99,885.00 49,942.50 $ 49,942.50 13 Contact Purchase Order Faflodale Carriages Winter Holiday Fiesta 1,000.00 1,000.00 1,000.00 $ 1,000.00 14 Employee Costs E , . , . , . 65,495.00 65,495.00 65.495.00 65,495.00 $ 327,475.00 15 Arbitrage Compliant Um Futures Arbitra a calculation for Bonds 6,100.00 6,100.00$ 16 Price/Costco Note HDL Caren & Cone Sales Tax consultin & Calculations 21.000.00 21,000.00 $ 17 Property Tax Consulting HDL Caren & Cone ITax Increment and Pas through calculations 27,000.00 27,000.00 $ $ Totals - This Page Totals - Page 2 Totals - Page 3 Totals - Page 4 Totals- Other Obligations Grand total - All Pages $ 126169,33300 $ 7,357,495.00 $ 6549500 $ 65,495.00 $ 66,495.00 $ 65.495.00 $ 1,226,442.50 $ 1,152246.66 $ 63,968.50 $277,086.00 $145385.00 $127,086.00 $ $ - $ - $ - $ _ $ _ If 80,631,593.00 $ 2,740,035.00 $ - $ - $ - $ - $ 208027368.50 $ 11,249,]]6.66 $ 129,463.50 1-3-42,5-8-1.5-01 S 211,880.00 $ 192,581.00 $4,226,167.50 $ 94,528.16 $ $ 1,370,017.50 $ 5,690,713.76 $4,489.147.50 $ $ $1,370017.50 $6,56],218.68 708,053.66 - Thk Fn(nmmAle 1l1; at[ P$ 9 on aymenl ehetlula (FOPS) Is to be adopted by the redevelopment agency no later than late August It Is valid through 12/31/11. It is the basis for the Preliminary Draft Name of Redevelopment Ageno, City of Azusa Redevelopment Agency Page 2 of 2 Pages Project Areas) Merged Central Business District & West End Project Area REVISED 8-18-11 ENFORCEABLE OBLIGATION PAYMENT SCHEDULE Per AS 26 - Section 34167 and 34169 (•) Project Name / Debt Obligation Payee Description Total Outstanding Debt or Obli ation Total Due During Fiscal Year Aug— SeptOct Payments by month Nov Dec Total 1 Consulting Services Lance Soll & Lun hard Audit Services 16,000.00 16,000.00 16,000.00 $ 16,000.00 2 Bambinos FFE Bambino's Pizza Furniture Fixtures & Equipment Loan 35,000.00 16,442.16 16 442.16 $ 16,442.16 3 ENA A rmt Dtnwn North A2/A3 Lewis Retail Centers Potential Liquidated Damages 10,000.00 10,000.00 $ 4 Redev Consulting Services Wban Futures Pro ct Administration 325,000.00 297,913.00 27,083.00 27,083.00 27,083.00 27,083.00 27,08300 $135,415.00 _L Appraisal Services RP Laumin Prop Appraisal 975 W. Foothill(D-Club) 2,200.00 2,200.00 1 2,200.00 $ 2,200.00 6 Appraisal Services RP Laurain Prop Appraisal San Gabriel Ave Bilk 37 7,000.00 7,000.00 7,000.00 $ 7,000.00 7 Doer Convenant A rml APPLE SOCAL LLC Applebee's Operating Covenant Pa me 200,000.00 200 000.00 200,000.00 $200,000.00 8 Enviornmental Services LSA Atlantis Garden CEQA Study 37,600.00 11,30900 1 11,309.00 1 $ 11,309.00 9 Consutling Services Impact Sciences Atlantis Garden Specific Plan 14,850.00 12,790.00 12,790.00 $ 12,790.00 10 ENA Atlantis Garden Mercy Housing Potential Liquidated Damages 50,000.00 50,000.00 50,000.00 $ 5000000 11 ENA (Enterprise) Kai Pacific & Associates Hotel Appraisal 15,000.00 15,000.00 15,000.00 $ 15,000.00 12 DDA 9th/Alameda Hsng Pro' City Ventures LLC Potential Liquidated Damages 25,000.00 25,000.00 $ 13 DDA Azusa/Arrow The Charvat Family LLC Potential Liquidated Damages 50,000.00 50,000.00 50,000.00 $ 50,000.00 14 Consultino Services Overland Pacific & Culler Atlantis Golden Replace Hsnq Plan 3,552.50 3,552.50 3,552.50 $ 3,552.50 15 Contract Purchase Order ENL Services Repair o(Agency Property 20,040.00 20,040.00 1,670.00 1,670.00 1,670 00 1.670.00 1 $ 6,680.00 16 Contract Purchase Order Miss Azusa Scholarship Pi Miss Azusa & Miss Outstanding Teen Az 15 000.00 15,000.00 15,000.00 $ 15,000.00 17 Le al Services Best Best & Kde er Redevelopment Legal Counsel 400,000.00 400 000.00 33,333.00 33,333.00 33,333.00 33,333.00 $165,665.00 _s3333 $ $ $ $ $ $ $ $ $ $ $ Totals - This Page $ 1,226,442.50 $ 1,152,246.66 $ 63,968.50 $277,086.00 $145,385.00 $127,086.00 $ 94,528.16 $708,053.66 ' This Enforceable Obligation Payment Schedule (EOPS) is to be adopted by the redevelopment agency no later than late August. It is valid through 12/31111. It is the basis for the Preliminary Draft Recognized Obligation Payment Schedule CROPS), which must be prepared by the dissolving Agency by 9/30/11. (The draft ROPS must be prepared by the Successor Agency by 11130/11.) If an agency adopts a continuation ordinance per ABA1 27, this EOPS will not be valid and there Is no need to prepare a ROPS. "include onty payments to be made after the adoption of the EOPS. Name of Redevelopment Agenc, Azusa Redevelopment Agency Page 1 of 1 Pages Project Areas) Merged Central Business Distnct & West End Project Area REVISED 8-18-11 OTHER OBLIGATION PAYMENT SCHEDULE Per AB 26 -Section 34167 and 34169 (•) Project Name/ Debt Obligation Payee Description Total Outstanding Debt or Obligation Total Due During Fiscal Year Aug" Payments by month Sept Oct Nov Dec Total I I Pass Through Est. Coum Pass -Through lAdmin 69,395,083.00 2563,1350.00 1,281525.00 $1,281,525.00 2 Pass Through Est. Statutory Tax Sh ring Pass -Through 11,236,510.00 176,985.00 88492.50 $ 88,492.50 3 $ 4 $ 5 $ 6 $ 7 S 8 $ 9 $ 10 $ 11 $ 12 $ 13 S 14 $ 15 $ 16 $ 17 $ 18 $ 19 $ 20 $ 21 $ 22 $ 23 $ 241 $ 25 $ 26 $ 27 $ 28 $ Totals - Other Obligations $ 8-0,631,593.00 $ 2,740,035.00 S Is I$ $ $ 1 370 017.50 $1,370 017.50 This Enforceable Obligation Payment Schedule (EOPS) is to be adopted by the redevelopment agency no later than late August. It is valid through 12131111. It is the basis for the Preliminary Draft Recognized Obligation Payment Schedule (ROPSI, which must be prepared by the dissolving Agency by 9130111. (The draft ROPS must be prepared by the Successor Agency by 11130111.) If an agency adopts a continuation ordinance per ABXi 27, this EOPS will not be valid and there Is no need to prepare a ROPS. Include only payments to be made after the adaption of the EOPS. An n>vmene