HomeMy WebLinkAboutResolution No. OB-03-12RESOLUTION NO. OB -03-12
A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR
AGENCY TO THE FORMER REDEVELOPMENT AGENCY OF THE
CITY OF AZUSA APPROVING AND ADOPTING A RECOGNIZED
OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD FROM
JANUARY 1, 2012 THROUGH JUNE 30, 2012 PURSUANT TO AB 1X 26
WHEREAS, pursuant to Health and Safety Code section 34173(d), the City of
Azusa ("Successor Agency") is the successor agency to the Redevelopment Agency of the City of Azusa; and
WHEREAS, pursuant to Health and Safety Code section 34179(a), the Oversight Board has been
appointed for the Successor Agency; and
WHEREAS, Health and Safety Code section 34177(1)(2), as modified by the Supreme Court
opinion in California Redevelopment Association, et al. v. Ana Matosantos, et al., Case No. 5194861 ("Legal
Action"), required the Successor Agency to prepare a "recognized obligation payment schedule" ("ROPS"), listing
outstanding obligations of the former Redevelopment Agency of the City of Azusa to be performed by the
Successor Agency during the period from January 1, 2012, through June 30,2012; and
WHEREAS, Health and Safety Code section 34177(1)(2) requires the Successor Agency to submit
the ROPS to either the County of Los Angeles Auditor -Controller ("County"), or its designee, for the external
auditor's review and certification as to the accuracy of the ROPS; and
WHEREAS, Health and Safety Code section 34177(1)(2) requires the Agency to submit the ROPS
to the Oversight Board for approval after submission of the ROPS to the external auditor and, upon such approval,
the Agency is required to submit a copy of such approved ROPS to the County, the California State Controller, and
the State of California Department of Finance and post the approved ROPS on the Agency's website; and
WHEREAS, Health and Safety Code section 34180(g) requires the Oversight Board to approve the
ROPS.
NOW, THEREFORE, THE OVERSIGHT BOARD OF THE SUCCESSOR
AGENCY TO THE FORMER REDEVELOPMENT AGENCY OF THE CITY OF AZUSA,
DOES HEREBY RESOLVE AND FIND 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 Compliance. The approval of the ROPS through this Resolution does not commit the
Oversight Board to any action that may have a significant effect on the environment. As a result, such action does
not constitute a project subject to the requirements of the California environmental Quality Act. The Assistant City
Clerk of the City of Azusa, acting ex -officio on behalf of the Oversight Board, is authorized and directed to file a
Notice of Exemption with the appropriate official of the County of Los Angeles, within five (5) days following the
date of adoption of this Resolution.
Section 3. Approval of the ROPS. The Oversight Board hereby approves and adopts the ROPS, in
substantially the form attached to this Resolution as Exhibit A, pursuant to Health and Safety Code sections 34177
and 34180. The "Total Outstanding Debt or Obligation" balances have been modified to reflect the current
balances of the obligations, not the total of the installments due for the life of the obligations. In addition, the
following items need additional documentation to determine if they qualify as enforceable obligations:
1. Merged Project Area —Line Item 917 Property Tax Consulting
2. Ranch Project Area— Line Item #2 1990 APFA City Lease Loan
Section 4. Implementation. The Oversight Board hereby directs the Successor Agency to submit copies
of the ROPS approved by the Oversight Board to the County of Los Angeles Auditor -Controller, the State of
California Controller and the State of California Department of Finance and to post the approved ROPS on the
Successor Agency's website.
Section 5. Severability. If any provision of this Resolution or the application of any such provision to any
person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this
Resolution that can be given effect without the invalid provision or application, and to this end the provisions of
this Resolution are severable. The Oversight Board declares that the Oversight Board would have adopted this
Resolution irrespective of the invalidity of any particular portion of this Resolution.
Section 6. Certification. The Assistant City Clerk of the City of Azusa, acting ex officio on behalf of the
Oversight Board, shall certify to the adoption of this Resolution.
Section 7. Effective Date. Pursuant to Health and Safety Code section 34179(h), all actions taken by the
Oversight Board may be reviewed by the State of California Department of Finance, and, therefore, this Resolution
shall not be effective for three (3) business days after the date of its adoption, pending a request for review by the
State of California Department of Finance.
APPROVED AND ADOPTED THIS 3rd day of May, 2012.
Chair
Oversight Board
Successor Agency to the Former Redevelopment Agency
of the City of Azusa
ATTEST
Assistant City Clerk
Oversight Board
Successor Agency to the Former Redevelopment Agency
of the City of Azusa
I HEREBY CERTIFY that the foregoing Resolution No. OB -03-12 was duly adopted by the Board
Members of the Oversight Board of the City of Azusa at a special meeting thereof on the 3rd day of May 2012, by
the following vote of Board Members:
AYES: BOARD MEMBERS: GONZALES, FRICK, ENGLUND, LOWE, PARAGAS, ROMERO,
WOODS
NOES: BOARD MEMBERS: NONE
ABSENT: BOARD MEMBERS: NONE
Assistant City Clerk
Oversight Board
Successor Agency to the Former Redevelopment Agency
of the City of Azusa
EXHIBIT B
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
JANUARY 2012 THROUGH JUNE 2012
[Attached behind this page]
EXHIBIT B
RECOGNIZED OBLIGATION PAYMENT SCHEDULE -CONSOLIDATED
FILED FOR THE JANUARY 2012 to JUNE 2012 PERIOD
Name of Successor Agency FORMER REDEVELOPMENT AGENCY OF THE CITY OF AZUSA
Certification of Oversight Board Chairman:
Pursuant to Section 34177(1) of the Health and Safety code,
I hereby certify that the above is a true and accurate Recognized
Enforceable Payment Schedule for the above named agency.
Page 1 of 4
Current
Total Outstanding
Debt or Obligation
Total Due
During Fiscal Year
Outstanding Debt or Obligation
E 100,932,314
$ 3,552,420.00
Outstanding Debt or Obli ation
Total Due for Sic Month Period
$ 2,695 015
Available Revenues other than anticipated funding from RPTTF
Enforceable Obligations paid with RPTTF
Administrative Cost paid with RPTTF
Pass -throw h Payments paid with RPTTF
E -
$ 2,566,680
$ 128,335
S
Administrative Allowance (greater of 5% of antidpated Furding from RPTTF or 250,000. Note: Calo laGan should mt
Indutla passitvough peymen6 made Man RMF. The RMF Administrative Cost figure above fMa4d not exceed this
dministrative Cosi AOowance figure)
$ 128,334
Certification of Oversight Board Chairman:
Pursuant to Section 34177(1) of the Health and Safety code,
I hereby certify that the above is a true and accurate Recognized
Enforceable Payment Schedule for the above named agency.
Page 1 of 4
EXHIBIT B
Name of Redeuelopment 0yen, Lily ofA a Redevebpment Agan
Pemct Au -(a) Meted Central Banmas C(s0M 6WnI F Hojed Asea
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26 - Seatlon Min
FISCAL YEAR 2811 - M12
Reviaed9110]112
Pne'd Name l Oele CEN9adon
Payee
Deenlp8w
Total I laMln9 TOIN Ous Wnng
Debt or Obligation petlod
Jen
Feb
Paymme by manN
Mar AP, Mar
Jun
Jul
TORI Bourteol Pement
1 Two MneaMn Ban
bond Holders
2008 Somas A hlert,arl TA Benda
$ 6485M S
248.494 S 2{6.49{ Cky Ad M
S S
S
$ S
S
S
246495 RMw x Ta Tion FuRPTTF
mem
Taf Mocal-B.
Born! Hellen
en
2o0J Mer dTA. Re Bantle,
T.8801U0
i(em 0
1660 98 Ci A&.
0
0
0
a
0
0
1,090 RPTTF
66
] Tax Aloca9on Bon.
Bond Holden
2005 r ed TA. Bonds
Mo
9.518,015
tT{Tt]
174r713 Oi A&Wce
0
0
0
0
0
0
174.713 RPTTF
D tF.404eanoe
Liht MI.
J014em
5TTo45 Foo8Ste
1144.5]]
39,489
1],183
0
0
0
13,183
13,163
0
39,489 RPTTF
5 JV Fund AMmx
Ught anel Mor
Autocleaderthip
4,755,836
0
0
00
0
0
0
a
0 RMF
In Fund Allam
1i tall Mter
619821 N. Aruaa ra, BI
190272
2.490
0
0
0
0
3745
3,745
0
7490 RPTTF
2 Relmb Aoa.mrl
Cit, of Azusa
R6.1G rm0]
V10RefindM COPY MFA
3025M0
61,925
61,925 Ci( Advance
a
0
0
0
0
0
61.925 RPTTF
Baf
6 H—h M
en
Bare Holden
dn MIS Se0 H—ing TA BOMa
10.975,000]25,]54
]25324 n Advvlro
0
0
0
0
0
0
]25,]24 RPTTF
ca6lends
Tea Ahm
BHolten
md
A Tax oemM
2M26MO Mo on B
1..6..0.
03
4303
430M C1Advyrca
0
0
0
0
0
0
4.en RPTTF
oBonds
10 Tef Mpllm
Bond Nobler
225a B T. Mm6en Bun.
MMe
{ 45o 020
114,M2
114 YY1 C co n e
0
0
0
0
0
0
114222 RPTTF
II y4lAdwiwa
ROA1awAbdFnM
LaWModAM4BImA36WfedLee
a
a
0
a
o 1
0
0
0
a 1
0
13 NMn Fund Unca
M lam Wanner
ASOWAzuf B let Reada&d
424250
0
0
0
0
0
0
0
0
0 Cher
1] fwxGGAfMxeGder
0
0
0
0
0
e
0
e
e
e
H E tt Cxh
E e of el
P M em
0180
W,609
50,809
0
0
0
0
a
0
W 809 RPTTF
15 Arriba eCam llence
ANNaComll.,asedafrsh
ANNae ealMeBanfar Bon.
2,775
2,225
2020
0
225
0
0
0
0
2,775 RPTTF
16 Ncoucem, Note
HOt Coren 6 Cone
Solea df oormar 6 ralem mf
5095
3.695
0
0
0
1
1202
1,495
0
3,895 Me,
12 Proocre, TU Cormrtir
HM Caen 6 Cone,
Taf lrwemmt all Naa mkoa2ban
Mm
6,602
0
1,202
2.202
0
0
21200
0
6,602 RP
TnMM1'TheloeeHl
TeleM1 Pa.e2
ow9atwnf
T.=
Grant md�M Pages
1112111 payment amourda art estlrvhf
61652,889
312]2140
0
95.4]U.o29 8
1629861
1484.121
a
2464052 1
1,81f,791
lu,602
0
a192,]95
1,202
159,322
0
1W 24
3.425 1.200
212,598 211923
0 0
@1023 5213@3
latae 11tH
165,358 566,158
0 0
184.4fifi 5582171 S
0
0
0
1629881
1484,121
0
3.184,052
Page 2 of 4
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EXHIBIT B
Name of Redevelopment Agency: Azusa Redevelopment Agency
Project Areas) Ranch Center Project Area
RECOGNIZED OBLIGATION PAYMENT SCHEDULE Revised 05103/12
PER AB 26 - Section 34177
FISCAL YEAR 2011 - 2012
Project Name/Debt Obligation
Payee
Description
Total Outstanding
Debt or Obligation
Total Due During
Period
Jan
Feb
Mar
Payments by month
Apr May Jun
Jul
Total Source of Payment
1 L&W Enterprise Loan
Light and Water
25 -Year Secured Note -RewMn
$ 1.828.766
$ 151,445
E-
$-
8-
$-
$-
$151445
$-
$151,445 Redwol mentProTax Trost Funa RPTT
2 City LoanUebt Obligation Bond
City of Azusa
1990 APFA City Lease Loan Dravvdoym
2,047,356
125.590
0
0
0
0
0
125.590
0
125,590 RPTTF
3 Sales Tax Reimbursement
City of Azusa
Sales Tax Due City
226883
15.880
0
0
0
0
0
15,880
0
15,880 Other
4 L&W Enterprise Loan
Light and Water
Ache ace/Rehabilitation Im rowments
1,372,976
77,715
0
0
0
0
0
77,715
0
77,715 RPTTF
5 SERAF.FY 2010-11 Lean
Light and Water
FY 2010-11 SERAF Payment to State
8,566
0
0
0
0
0
0
0
0
0 RPTTF
6 Administrative Fees
City of Azusa
Successor Agency Administrative Fees
17.738
17.738
0
0
0
0
0
17,738
0
17,738 Administradw Allowance
7
D
8
1
0
9
1
0
10
0
11
0
12
D
13
0
14
1
D
15
0
16
0
17
0
18
19
0
20
021
022
023
Iwo
0Totals-This
Page
Other Obligations
Grandtotal-All Pages 1)
$ 5,502,265
S
S 5,502,285
$ 388.368
$
f 788,366
S-
E-
f--
S388,3WTotals-
$ -
5388.168
(1) All payment amounts am estimates.
Page 4 of 4