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Home My WebLink AboutResolution No. 14-R2RESOLUTION NO. 14-R2 A RESOLUTION OF THE SUCCESSOR AGENCY OF THE FORMER REDEVELOPMENT AGENCY OF THE CITY OF AZUSA APPROVING AND ADOPTING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD OF JULY 1, 2014 THROUGH DECEMBER 31, 2014 PURSUANT TO AB xI 26 AS AMENDED BY AB 1484 WHEREAS, Health and Safety Code Section 34169(h), enacted by AB xl 26, requires successor agencies to prepare a Recognized Obligation Payment Schedule ("ROPS") every six- month period. WHEREAS, because the Successor Agency of the former Redevelopment Agency of the City of Azusa ("Agency") previously adopted a ROPS, Resolution No. 13-R12, dated September 16, 2013, is operative only through June 30, 2014, so that the Agency may continue to meet the Agency's recognized obligations, and NOW, THEREFORE, BE IT RESOLVED, determined and ordered by the Agency as follows: Section 1. The Recitals set forth above are true and correct and incorporated herein by reference. Section 2. The Agency staff is hereby authorized to administratively amend the ROPS in order to remove line items which are subsequently disapproved by the Oversight Board, the California State Department of Finance ("DOF") and the County of Los Angeles Auditor -Controller and to format the ROPS to conform with DOF requirements and to take all necessary and appropriate actions to prepare and submit the ROPS, provided, however, that neither such authorization nor such removal shall be deemed to be, nor are they intended as, an acknowledgement of the validity of AB xl 26 and AB 1484 or such action by the Oversight Board and/or the DOE The Agency reserves all rights of the Agency to challenge the validity and/or application of any or all provisions of AB xl 26 and AB 1484 in any administrative or judicial proceeding, without prejudice to the Agency's right to list any such removed item on this or a future ROPS. The Agency reserves the right to pursue any and all appeals and any available legal or equitable remedy provided or available by law to obtain the correction of any erroneous decision regarding the BOPS. Section 3. The Agency staff is authorized to include on the ROPS any items which were approved on ROPS I, ROPS II, ROPS III, ROPS 13- 14A and BOPS 13-14B but not fully expended. Section 4. The Agency hereby approves and adopts ROPS 14-15A, in substantially the form attached to this Resolution as Exhibit A, so that the Agency may continue to meet its recognized obligations, all as required by Health and Safety Code section 34169, during the time period from July 1, 2014 through December 31, 2014. The Agency reserves the right to further amend the ROPS in the future in order to provide an accurate schedule. Section 5. The Agency Secretary shall certify to the adoption of this Resolution. Section 6. This Resolution shall become effective upon its adoption. PASSED APPROVED and ADOPTED at a regular meeting of the Successor Agency of the City of Azusa on the 18th day of February 2014. /jt'. � 4 L L Z tl J eph Romero Rocha, Chairman ATTEST: v ce Cornejo, Ji., City le CERTIFICATION I, Jeffrey Lawrence Cornejo Jr., City Clerk of the City of Azusa, do hereby certify that Resolution No. 14-R2 was duly adopted by the City Council of the City of Azusa, serving as the Successor Agency to the Former Redevelopment Agency, at a regular meeting held on the 18th day of February 2014, by the following vote of the Agency: AYES: COUNCILMEMBERS: GONZALES, CARRILLO, MACIAS, ALVAREZ, ROCHA NOES: COUNCILMEMBERS: NONE ABSENT: COUNCILMEMBERS: NONE EXHIBIT A RECOGNIZED OBLIGATION PAYMENT SCHEDULE 14-15A EXHIBIT A Recognized Obligation Payment Schedule (ROPS 14-15A) -Summary Filed for the July 1, 2014 through December 31, 2014 Period Name of Successor Agency: Azusa Name of County: Los Angeles Current Period Requested F d' g for Outstanding Debt or Obligation Six -Month Total Enforceable Obligations Funded with Non -Redevelopment Property Tax Trust Fund (RPTTF) Funding A Sources(B+C+D): $ B Bond Proceeds Funding (ROPS Detail - C Reserve Balance Funding (ROPS Detail - D Other Funding (ROPS Detail - E Enforceable Obligations Funded with RPTTF Funding (F+G): $ 3,240,420 F Non -Administrative Costs (ROPS Detail 3,115,420 G Administrative Costs (ROPS Detail) 125.000 H Current Period Enforceable Obligations (A+E): $ 3.240.420 Successor Agency Self -Reported P Period Adjustment to Current Period RPTTF Requested Funding I Enforceable Obligations funded with RPTTF (E): 3,240,420 J Less Prior Period Adjustment (Repon of Prior Period Adjustments Column S) (136,000) K Adjusted Current Period RPTTF Requested Funding (W) $ 3,104,420 Certification of Oversight Board Chairman: Pursuant to Section 34117(m) of the Health and Safety code, I hereby certify that the above is a true and accurate Recognized Obilgetion Payment Schedule for the above named agency. ,Irk" Name A Title �j IS/ &'s /U .2'%6 Sign ure Date V EXHIBIT A Recognized obligation Payment Schedule (ROPS)14-15A - ROPS Detail July 1, 2014 through December 31, 2014 (Repan Amamlb in MOO Daeam) A B C 0 f F G N I J IL L M N O P Funding Saurce Non-Rodevelopmeal PlopeM Tax Twt Fund No. RPTTF RMF ContradAureement CmtraCJAgeemenl Total Ou6tandlnp Irene I Pc et Name/Dart Obi o0on Obligation Tire, Fxeculan Dote Terlma4on Dole P.'O Cesvi EmJROM Searle Pooled Area Not or Otg neon Ratired Son6Proaeb Rexene Belpntt Otlrn Funds Non-Adre Admin Six -Monty TOO 5 5] 635689 $ - 5 - S - S 3.115.420 S 45000 S 3 404 1 Tex AlNmOm Bolls Sonea Issued On Or 121183000 LIMN Borg Holders 2000 Series AMUM MCBMAE 6M5.M N NI 00 5 N12C0 2 Tm Nkcarm Bonds BOMslswed Ona 12112003 812023 Bond Holders 2003 Me,. RepaW�p Bonds MLBMM 6,870000 N 678,093 S 6]8,09] Belere 1MI110 3 Tex A'bmBon Bonds son. od On of 21111201 BII2oN Bond HOWese 2005 merged T. A. Bonds MLBDBWE 9429.889 N 170,713 5 1]4,]13 Before 1vall0 4 r -i -Fund Al Third -Par Loaner 41111997 62]2033 "-" a landwaler - "' Amancel57T645 Finetri Mems See MCBO&M "-I N 5LI 1Fund ABvanro Thed-parry Loans 42111997 10112033 U11 and Water C' Adv1,,n W.hi MCBDM1WE I N BVOl Fund PMnme Third -Pam Loam 1122005 flacli25 UBnl and Wales ryonxclzusn(Talley MCBOBVVE gy621 N.A N ]RdnO. Ageemem Fl.lauvtl Ona 1.12003 BelleMill0 812030 c'cf,,zwa Reimb fpmV3Po3 RebldW COPS MCBDBN£ 2.540,000 N 308,315 S 305,315 B Xo,sng BwMl BOMB Owed Ona 11252008 Bebm 12/31/10 812038 Bond Holden 2008 Snip B lYns9lg T A Bonds MCSCAM 10,710,000 N 513,500 S 513,560 9 Tax Macedon San. Bonds issued Onn ]21200] 8112035 Band Holders 2007 Senn A Tex Nl.lation Bunce MOBOBVrE 13,400,000 N cei S 554655 Bafe.12,31110 IB TO. Nlomdon Ban. Bonds lOued On or ]/31RO0] 011,z). Bond holden 2007 Series B Tax Alocaton Son. MCEONVE 4.255000 N 214884 5 214,084 Before 12/31110 II .CO fern. Fen 8182012 6002013 Mtibe.co 6ecbhb MNtrae-l... br Bpn. MCB08N£ N $ 12 PmpMy Tax ConelYYnO PrOesabml 8182013 Se1Nns 6000613 Her- Caen B Lone Tax lmremenl Pahl Services MCBMWE N $ 13 Gunmen Services Lladurar Ali 8182012 6000013 lame 686 Wn rd Mda6eMen MCBMWE N 5 14 Barnala FFE 9iona. mmneen 1282009 1282015 Bxnl .,Pisn AOMI.N. F... Fix.. b MCBMWE N $ semen. E u mora Loan balance 15 LorNaot Purchase Order Proper, 8182013 M07013 EB LSemon Maintenance of Apeney Proper, MLBDBWE N S Meinlenencn IB Lee., 511801-Froa. Legal 81M012 830.2013 Seat Bat BBV Or ABenc/ Legal CoumN MCBD6WE N 5 AdmFhtrabn 17 CmsuM Se,sice Fees 8182012 8300013 UNan FUTues Boll Dadmnres MCBDM1WE N 5 18 Bbq PAMMstrotlm Fees 8182013 8]83013 weKFar Bank Tvsta MiniomeNl chu MCBMNE N - - 5 ' 19 SERPf FY 2010.11 Loses Cernounry Lee- " 8312011 8]M03U li0hl0100 Warm FT 2010.115EPNf Paymml 10 cone MCBMMf '—"' - N On a Sebe 02]111 20UremvixonalBeneBb UnNMed UeMfrtes 8182012 WOWS EDD U-11. benehtcnW. fmmn RDA MCBMWE e o n N $ 31 Hatlan Lee Prej.lNmw�ly Thir6Pnrly Loans 7/111991 6002016 Utl1'1end VJamr LowMotl lnconq HnueinB advance MCBOBWE " N _..............._ _.._ .. ..__. .... Cio ade'Caadan 22PNiMs.Wa AlloceWn PArm Com ]112012 8382013 C'Olkasa SuaeseorAW, ldrmutreMe MCBDBWE MmSn N 125,000 S 125,000 2J Payment Reamotlm Rezenn 1/12014 woram5 Cayaluene Reserve b July NO Bo -M 0001 Mcell N $ Service aMalliterate, —24 LBW Ent 'fe Lon TNNP Leena 8381909 6013014 U aMWater 25Year Smmsd Nne-flee RSM1 Centn N 25CBy1narvDeblObYyeBon(Bondl CenCounry loons 7/1/1991 02039 Dt OLorse 1990PPFABmd Gry Lme<Lmn Ranch Center N 1 On or Bebe Oram Drawdown 26 Cay Law Enter.a Loan nond-Part, Loam 611/1989 6062039 arcane Loam. cemamAlOooltannrrmrne—rox aanmexm.r N 27 SERAF FY 2010-11 Loan 1,1001, Lmna 5132011 83020]0 U9nland Weler FY 2010-116ERAF Payment to gale Ranch Conur N r On a Solve, 627111 _ 28 Adn%lvereMe Mooreen Perm Cesb 7/12012 MM013 CYy Of Asea SuaesSw Agemy Admirhtratrle RarM Cmin 125.000 N 5 - PSeoleau 29 Drc 10x-5. urnineed LLM9Ra 7112013 01002013 CK PERS Retia H.OM Remlume MCBMWE N 5 WMn all R. Pro PCmIn Ca. ]/12013 8]02013 Ire-Manbin OFSIte sKK lar ort Nes MLBMIM1£ N $ 31 Reader BOxd PEr ILmb ]112012 8383013 Vemm� Connexa.etion Servie to Reader MCBMV/E N 5 eared ]2 WAIAzusdNnax illy) OPNODNConstruN 652011 8J02ma The.1.1.1 F.ri LLC Whxio lW—eimenl MCBOFWE N S ]3 Proper, redeveloped Cay/Ctn.!Loem 18001980 100112015 RIa FOMry Trust Rede , Fia Lom4rany ail. MCBOBW£ N 5 On m Belle M711 t EXHIBIT A Recognized Obligation Payment Schedule (ROPS) 14-15A - Report of Cash Balances (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 e C D E F G H Fund Sources Bond Proceeds Reserve Balance Other RPTTF Prior ROPS RPTTF Bonds Issued Bonds issued Prior BOPS period distributed as Rent, on or before on or after balances and DDR reserve for next Grants, Non -Admin antl Cash Balance Information b ROPS Period 12/31/10 01/01/11 balances retained bond payment Interest, Etc. Admin Comments ROWS 1344A Actuals 07101/13-12131113 I Beginning Available Cash Balance (Actual 07/01/13) Nate that for the RPTTF, 1 + 2 should lie to columns J and O in the Report of Prior Period Adjustments PPAs 824,472 363,667 2.573,128 2 Revenuellncome(Actual 12131113) Note that the RPTTF amounts should lie to the ROPS 13.14A distrbution from the County Auditor -Controller during June 2013 421,583 5411,252 of the amount noted in column G is for Lo -Mod Loan Payoff and Property Sale. 3 Expenditures for ROPS 13.14A Enforceable Obligations (Actual 12131/13) Nate that for the RPTTF, 3 + 4 should tie to columns L and O in the Report 824.472 198.674 2.573,128 4 Retention of Available Cash Balance (Actual 12131113) Note that the RPTTF amount should only Include Me retention of reserves for debt service approved in ROPS 13-14A 5 BOPS 13-14A RPTTF Prior Period Adjustment Note that the RPTTF amount should tie to column S In the Report of PPAs. e _ 136.000 6 Ending Actual Available Cash Balance C to G=(1+2 -3-4),H=(1+2-3-4-5) 1 $ - $ - $ - $ - S 586,576 S (136,000 ROPS 13-14B Estimate 01101/14.06/30/16 7 Beginning Available Cash Balance (Actual 01101/14) (C, D, E, G=4+6, F=H4+F4+F6, and H=5+6) $ - $ - $ - $ - $ 586,576 $ - 8 Revenuelincome(Estimate 06130114) Note that the RPTTF amounts should lie to the ROPS /3-148 distribution from the County Auditor -Controller during January 2014 9 Expenditures for 13-14B Enforceable Obligations (Estimate 06/30/14) 10 Retention of Available Cash Balance (Estimate 06130114) Note that the RPTTF amounts may include the retention of reserves for debt service approved in ROPS 13.14B 11 Ending Estimated Available Cash Balance (7+8-9-10) S 5 - 5 Is - $ 586,576 1 $ Rerognrzed OOFrgatlen Payment Schld.k (ROPS) 14-15A -Relron of Prbf Pede d Adjux.e. RoWned for the ROPS t114A (Jury 1, 20131Mo1h December 31.3013) P,r Purwent lm HeaIN aM Safely Code (HSC) sttibn UIW (e) IRfeM Nnw•4 n ..., Sell-m"Ked Prior Pe tied Adjustments IPPAIAumeanl To HSC Secton UI Ila (a), SM are required to repo Iba differences Between their actual ovwlaMe funding eon their etlual exgmWllutoy for IM ROPS I1I4A (Jing thI.,h DocemEcr 20 13) perod. T11e nma.M of ROP511-1M See ensof Agency (SAI RedexetoPmmR ProgM Tee Trull Fund (RPTTF) eppwed for IM BOPS I 4 SA (July through December 2014) portion will ba of6e1 b/ IM SA. seKrapaM1ed ROPS 11I4A pxiar pedal erjiShrcM. HSC SONon UI E5 (e) ebo aped5a ihet the glor peded edjlntmeMa self 1. WW by SAs to sut{ext to ..R Ey ouGtorsonlm0el GC aM lye Sen. CwMoVer. B E P O R 6 NomRPTTF ExpendXums RPTTF Expendit tes Rx eAce .MAdnwl vA P. 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