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Home My WebLink AboutResolution No. 14-R13RESOLUTION NO. 14-1113 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 JANUARY 1, 2015 THROUGH JUNE 30, 2015 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. 14-R2, dated February 18, 2014, is operative only through December 31, 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 DOF. 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 ROPS. 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 ROPS 13-14B, ROPS 14-15A but not fully expended. Section 4. The Agency hereby approves and adopts ROPS 14-15B, 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 January 1, 2015 through June 30, 2015. 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 this 15'h day of September, 2014. oseph Romero Rocha Chairman ATTEST: J ff a keCornejo- Jr Secretary CERTIFICATION I, Jeffrey Lawrence Comejo, Jr., City Clerk of the City of Azusa, do hereby certify that Resolution No. 14-1113 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 15'h day of September 2014, by the following vote of the Agency: AYES: AGENCY MEMBERS: GONZALES, CARRILLO, MACIAS, ALVAREZ, ROCHA NOES: AGENCY MEMBERS: NONE ABSENT: AGENCY MEMBERS: NONE f L ceComejo,r. Secretary ATTACHMENT A RECOGNIZED OBLIGATION PAYMENT SCHEDULE 14-15B ATTACHMENT Recognized Obligation Payment Schedule (ROPS 14-15B) - Summary Filed for the January 1, 2015 through June 30, 2015 Period Name of Successor Agency: Azusa Name of County: Los Angeles Current Period Requested Funding 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 (ROES Detail) - C Reserve Balance Funding (ROPS Detail) D Other Funding (BOPS Detail) - E Enforceable Obligations Funded with RPTTF Funding (F+G): E 2,126,599 F Non -Administrative Costs (BOPS Detail) 1,851,599 G Administrative Costs CROPS Detail) 275,000 R Current Period Enforceable Obligations (A+E): b 2,126,599 Successor Agency Self -Reported Prior Period Adjustmentto Current Period RPTTF Requested Funding I Enforceable Obligations funded with RPTTF (E): 2,126,599 J Less Prior Period Adjustment (Report of Prior Period Adjustments Column S) K Adjusted Current Period RPTTF Requested Funding (IJ) $ 2,126,599 County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding i L Enforceable Obligations funded with RPTTF (E): i 2,126,599 LM Less Prior Period Adjustment (Report of Pnor Period Adjustments Column AA)_ N Adjusted Current Period RPTTF Requested Funding (L -M) 2,126,599 Certification of Oversight Board Chairman: Pursuant to Section 34177 (m) of the Health and Safety code, I hereby certify that the above is a true and accurate Recognized Name Title Obligation Payment Schedule for the above named agency. fs/ Signature Date AI AlIACHMENT A A2 Recognized Obligation Payment Schedule (ROPS 10.1613( - ROPS Detail January 1, 2015 through June 10, 2015 (Report Ammmes n Wnde Deem) A B c O E F G H I J K L M N O p Funding Sourte NomRmJ-1.;—qxm PrapaM Tax Trust Fund N—RPTTF RPTTF ConbacllAgrtanent CmtreNAgremand To01 Outstanding Reserve Man Failed Name l Debt Obligation Obligation Type E.—mum Oae Termination Data Forest DescrilNiompmject Scope Pmjen Ama unto or Missumn Retired Bond proceeds Bahamas. OMer Fund. Nonddmin I Admin Six.nm Total $ 6,156,]19 $ - $ - 5 - 5 1851.599 1 $ 375,000 S 2128599 1 Tax Nloccrumn Bonds BonNlssued Ono, 121182000 81120]1 Bond Holders 2006 Setln A MeredTA Bonds MCBDSWE 605000 N 2380751233 OR 2 Tex Amenian Bonds Sondslssued Onor 12112003 1112023 ..ad Holders 3003 Merged TA. Relundn9 Bonds MCBDSWE 6,510000 N 138.155 138,155 Saba. 12/31110 3 To. alomeon Boma Bondslssued Ono' 3/172005 Wicom Bond Holden 2005 merged T. A. Bonds MCBDOWE 9,129,889 N 171713 Before 1101/10 111-1,wFwd Advance Thim-P Loam 011997 62]6033 Light and canter Af ana15]]EIS FmMillMrams Site MCDC6WE N "" - 5U tFund Advance ThOdP Loem 121/199] 10/16033 Ll Mand Water City Adv/Ammealershi McBWWE N 6 Water Fund Ahanee Thrid Petty Loam 1192005 8].102825 Light and Water Cily Advf619£21 N. Asum(Tellm MCBD6WE N Stop) ]Reind. Agreement Bmdslssced On or 12/12003 &12020 Cir, or 're. Reimn A9rm@003 RefundIn9 COP§ MCBDQWE 2,285,000 N 10,531 Before 12/31/10 1390,820 8 Housing So. Bmd. Issued On or 11252008 WI6038 Bond Holders clew Sawa B Housing T A. Bonds MCBDBWE 10,565,000 N 361,573 Before IM1110 9 Tex Agea ion Bonds Be. saved 0.m ]131000] 8412035 Bond Holders 2007 Series A Tax Allocation Bonds MCBDBWE 12920,000 N 390820 Before 12131/10 10 Tax Martian Bands Bonds Impact On or ]131200] 8112035 Band Hnlden 2007 Sane, B Tax Allocation Bonds MCBD6WE 1,150000 N 107,521 Bells. IM1110 tl Prbirae Compliance Fen 611!2013 6/!06013 AIDNe DumpSenelcm Arluae calwlaran for Bonds MCBDAYE N 13 property Tax Consulting P,olnaunal 611M012 8202013 HdL Doren O Cone Ts.Inuemem And, Services MCBOat^/E N Services 13 ContServlet Dissolution Facies 61182012 6I30xi Lance Soil A Lunnard Audit Servlet MOBOBWE N 11 Barn !no}FFE Business Incentive 1262009 12M011 Bambino'. Pius Available Furniture Hature b MOBOBWE N Agreements Equipment Loan balance 15 Contract purchase Order Audi tela6013 MM013 Ea LServicus Manimance of Few, PmpeM MCB0841£ N MaM.-ce 16 Legal SeMm - Projaq Legal 1311x2012 6902013 Best Bnt a Kne9er A9enry Lagal Counsel MCSOBWE N Adminho-axan 17 Consufting Serv!Les Fen 81=012 Worse!3 Urban Futures Bond Discleaures MCBDBWE N Ia Bond AdminSbation Fen 6"M012 wWr2013 Well Fargo Bank Trustee Admintownsn Charges MCBD6WE N ! 19 SERIF FY 3010-11 Loan CirylCoun Loam 1Y 522011 6V=030 U tem Water 9h FY 201611 SEPAF Pa Payment SMte MCBDBWE N I On or Belle 827/11 20 UnemPloymerd Bmefih UnNndM LlaBiliYes WI860II 600,2015 EDD nemsbenefit sh to former RDA rm MCSDEWE N enclosures n 21 HerFan Las Pvj Qbmerty ThirdVeM loam 7/1/1991 5/!06016 O9M and Wetrr LwrMod 110010. Hauen9 atvarrce MC806WE -"-- --' N - "-- ComstledlCasdm) _ 22 Atn8rlrstraxve Allaaton Adnan Cafb 7112012 81302013 G ty orAwza Agenry Admnno-ative MCBDBWE 125000 N 125,000 125.001] Awashsor awavm 23 Payment Rnervaam Rnrnn 1/12011 9/30201/ Ciry algnma ReservetyBonddJu3011 Bt OeE1 MCBOIW 0E 269,5 N 269A]5 369,135 6ervice and aspens.& NO LBW EIde -"loan "- Thir&pa Loam" 6c30/1909 6906011 Utimird4Wltt """ "" 25 -Year Scored Nale-RevM1n Ranch Center N ! 25 City LowilabI OM9alhn(Bond) CRy1CauMy Loam ]1111991 6/!06039 CaIrsfAarsa 1990APFABoMCm Lease Laen Form Center N I On or Belle 627/11 Drawdown _ 26Cits LSW Enterprise Loan .__ Third -4e Loam M/1989 M02039 Li tend Waltt AduancreeRedbablitaboan Imprisonments Retch Center N A2 ATTACHMENTA A3 Recognized Obligation Payment Schedule (ROPS 14-169) - ROPS Detail January 1, 2015 through June 30, 3015 (Report Amounts at WHole Dollars) A 8 L 0 E F G H 1 J K L M N 0 P Items Project Name/ Debt Obligation CmbaNAgrtnnnrt Co muWAgberrsent Obligation Type general Dab Terminatipn Date Total Outstanding Peter, 0esed ionNmject Scope I'miset Area Debtor Obligation C-efing Soume NmiteEevelopmmt Proper, Tu Teen Fund (Non-RPWFj RPTTF Reserve Rained Bond Proceeds Saleece .1 Funds NanAEmin Admin SUAdpn. Total 2I SERAF FY 2010.11 LOan CHylLowN pars a 50/2011 6/302030 Orn tight and Water FT 2010-11 SERAF Payment to State Ranch Center �Y��r' IN - — 29 Neem la meM Oeneher lraOilAes ]/12012 Onned Gil CALPERS Heats Remuev MCBOQWE N 30 Merged and Ranch Propck Co Pdmin Loafs ]/12012 NJO201J SCOW) OMenr Iron Mountain OX-iilp storage for redevelopment files MLBDdVdE - N 31 Reader Board Admin Coib 7118012 6008013 Vernon Communication Service m Reatler MCBOBVJE Board N R DOA (AdherWAmw-My) OPNOONConsbucti 6rt2011 on N302014 The Chanat Repay LLC IImprovement MLBO6WE N 33 Pryer,edevelpped CiryFwnty Loans 1014/1988 On or Before 62L11 10C1n014 Rice Fer T., Redevelop Price Company site MCBOBWE N N Admintarratve M.Cm n Atlmin Costs 71112014 W W015 L1Counry LowMM Income Housirg 300,000 Aeminiibatiee Nloa+ted N 150.W0 150.Po0 JS 1989 Ranh Center project loan ImprovemenNnhasII 9/112014 ,store 2]020]0 Ciry of Axuap Pualic Improvement Ranch Center 61,661 N 597 597 36100 Rend CrimanXiddel Busmeaa Card. Loan Ipap mvempnNnkaan 91112011 ucWre &]020]0 CiryolPmsa Public lmpmvemenl MCBOBWE 485,818 N 4,]W 4,7W J] 1989 Wet End Phil Loan Improvemen inhastr 9/112014 ucNre N3020J11 CiryotAmsa publis Improvement related to Price West End 9,141 ]65 Cub largest N 90,515 90,515 38 Amount held for Lo Mod CTyICwnry Loam 9111RO14 After 62]/11 6208030 Cowry of Loi Angple 20% retention of loan rabdcatron MCBDdWE 1,978.151 repayment N 23,955 23,955 39 N 40 N 41 N 42 N 43 N N 45 N 46 N 4] N 46 N 49 N 50 N 51 N 52 N 53 N N N 55 N 56 N 5] N Si N 59 N W N 61 N 82 N 63 N A3 ATTACHMENT A Recognized Obligation Payment Schedule (ROPS 14-15B) -Report of Cash Balances (Report Amounts in Mole Dollars) Pursuant to Health and Safety Code section 341]] (1), Redevelopment Property Tax Trust Fund (RPTTF) maybe 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 https,//rad.dof. ca. gov/rad- sa/pdf/Cash Balance Agency jjg Sheetodf. A B C D E F G H Fund Sources Bond Proceeds Reserve Balance Other RPTTF Prior ROPS Prior ROPS period balances RPTTF Bonds Issued Bonds Issued and DDR RPTTF distributed as Rent, Non -Admin onorbefore on or after balances reserve for Grants, and Cash Balance Information by ROPS Period 11/31/10 01101/11 retained future palladia) Interest, Etc. Admin Comments ROPS 13-14B Actuals 01/01114 - 06/30114 1 Beginning Avallable Cash Balance (Actual 01/01114) 4,142,113 411.252 175,324 1 ReyenueRncome(Actual 06130114) RPTTF amounts should lie to Ne ROPS 13-148 distribution from the County Auditor -Controller during January 2014 19,795 33,891 2,219,33] 3 Expenditures for ROPS 1}148 Enforceable Obligations (Actual 06130114) RPTTF amounts, H3 plus H4 should equal total %ported actual expenditures in me Report of PPA, Columns L and O 34,153 2.219 39 4 Retention ouAvailable Cash houldoBalance clude th amou16) RPTTF amount retained shoNO only inGutle the amounts distributed for debt service reserve(s) approved in ROPS 11148 4,126,]55 411252 6 ROPS 13-140 RPTTF Prior Period Adjustment RPTTF amount should tie to the self-reported ROPS 13-14B PPA in the No entry required Report of PPA, Column S 6 Ending Actual Available Cash Balance C to G=(1 r2 -3-4),H=(1 +2. 3.4.5) 209,215 ROPS 14-15A Estimate 0]101/14-1113111 6 7 Beginning Available Cash Balance (Actual 07101114) (C, D, E, G=4+6, F=H4 +F4 -F6, and H=5x6) 4,126,755 411,252 209,215 8 Revenuellncome (Estimate 12131/14) RPTTF amounts should tie to the ROPS 14-15A distdbu Jon from Ne County Auditor -Controller during June 2014 9 Expendlturesfor ROWS 1L15A Enforceable Obligallons(Estimate 12/31114) 10 Retention of Available Cash Balance(Estimate 12131114) RPTTF amount retained should only include the amount distributed for debt service reserve(s) approvad in ROPS 14-15A 11 Ending Estimated Available Cash Balance 17+8.9-10) 4,126,755 411,251 109,215 A4 •J4 /\ \/ .. ..... ..........\ I !| ,| .... ..... .... ..... ................ � ! , _ / | ! ! |; ... ..... .... ..... ...............| | !, «§# a H!!; ,. !(:•| � ! . . ........ ..... .. . .l.. ..... ......1;_. . 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