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Home My WebLink AboutResolution No. OB-04-12RESOLUTION NO. OB -04-12 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 JULY 1, 2012 THROUGH DECEMBER 31, 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. S 194861 ("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 July 1, 2012, through December 31,2012; 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 RODS; 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 Z6141.1 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. CEPA 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 B, 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 further documentation to determine if they qualify as enforceable obligations: Merged Project Area— Line Item #15 Property Tax Consulting Ranch Project Area — Line Item 42 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 RODS 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. Tc- i Char Oversight Board Successor Agency to the Former Redevelopment Agency of the City of Azusa ATTEST: CGL'\ L•'w'' 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 -04-12 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 C RECOGNIZED OBLIGATION PAYMENT SCHEDULE JULY 2012 THROUGH DECEMBER 2012 [Attached behind this page] EXHIBIT C RECOGNIZED OBLIGATION PAYMENT SCHEDULE - CONSOLIDATED FILED FOR THE JULY 2012 to DECEMBER 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 Name 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 $ 102,241,156 $ 5,489,786 Outstanding Debt or Obligation Total Due for Six Month Period $ 4,649,395 Available Revenues other than anticipated funding from RPTTF Enforceable Obligations paid with RPTTF Administrative Cost paid with RPTTF Pass-through Payments paid with RPTTF $ - $ 4,513,976 $ 135,419 $ dministrative Allowance (gmater of 3% of anticipated Funding from RPTTF or250,000. Note: Celmlafion should not include pass-through Payments made wdh RPTTF. The RPTTF Administrabw Cost figure above should not exceed this minisuabse Cost Allowance figure) $ 135,419 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 Name Enforceable Payment Schedule for the above named agency. Page 1 of 4 EXHIBIT C Name of Redevelopment Apda,: City of Anna Reddvelognent Agency Pmjed Areals) Merged Central Business Distnd Is west End Project Area RECOGNIZED OBLIGATION PAYMENT SCHEDULE Per AB 26 - Seaton 3417] FOR THE FIRST SIX MONTHS OF FISCAL YEAR 2012. 2013 05/03112 Page 2 of 4 Project Name I Debt 088ga5on Payee Dayar,goord Taal Oucstark'uq Cedl or Coli anon Total Cue Caird passed Jus 2012 Aug Payments oy month Said Cd N. Dec M12 Total Sourer a Payment 1 Tax Allocation Bonds Bork Holders 20M Series A Merged TA, Bonder $ 8485 000 $ 328,694 $ 328694 $ $ $ $ - $ - S 326,694 Recavelepneel Prop Tex Trust Fund (tp F 2 Tav Allocation Bonds Band Holders 20M Mered T A. Refuindirtli Bolls 7,690,000 661990 681,090 - - 661090 RPTTF 3 Tax AlloraGon Bands BOM HOItlels 2005 Me el T.A. Bonds 9.518,015 174.713 1]4,]13 - 1]4]13 RPTTF 4 Li FW Adverts ught and water Advan®/5TIE45 FOOM41MAn15 Site 1,1TJ,7M 36.396 38.398 - 38398 RPTTF 5 UptelFunclAotemad Ugly ark water Car A&JAldOdealarshi 5.005.518 281 262,790 282.'!90 RPTfF 8 lVVadar Fund AWance Use and water City AdvJ61S-621 N. Azuaa aIle Bd 199785 10521 10,521 10,521 RPTTF ] ReimbA moment City of Asusa point, A,m12W3 Refundln COP's 3025000 301,925 301,925 - - 301.925 RPTTF B Housing Bonds Bond Holders 20M Sales B Housing TA, Bonds 10,975,000 505,354 505,354 - - 505354 RPTTF 9 Tax Allocation Bolds Send Holders 2007 Series A Tax Allocation Bonds 14,690.000 860.023 860.023 - - 880023 Pi 10 Tax Allocated Bonds BOM Holders 200] Sends 8 Tax Allocation Bolls 4,450,000 203.222 209.222 - - 209.222 RPTTF 11 WI-Adv—es. Rl). - . MadFund � 0 0 - 12 Water Fund Advarce Lima and Wafer City Adv.1$450WAzusa a tat Reader Bid 500881 49943 - 49,943 49.943 Oloa 13 Arbitrage Com is. AAAm Com iee MS 'alisis llatew for Bonds Alameda ceo 8,100 5,325 3,325 - 2,000 5.325 RPTTF 14 Pe-1-HcaNae MBL6erewt6ww 0 0 - 15 Propeny Tax Consong HDL Caren a Co. Tax Increment Audit Services 11,000 5,500 2750 2,750 5500 RPTTF 18 Row net used 17 Rev not used Totals - TIPS Page (1) Totals - Papa 211) Tools - Other Oaligmans Grand total - All Pages (1)All payment amounts are estimates 63,919,999 32.739.165 01 is 98,658,16415 3.4114% 1.264.483 0 4,575,919 3,01],41] 187.435 0 $3264.852 0 479.690 0 7$479,690 6.075 262)90 0 271040 96.590 31,940 0 0 0 52]7115 3359380 7$31940 65.214 19],]88 0 $283002 3.4114% 1,284,483 0 7477579 Page 2 of 4 UHIBIT C Name of RedrvelopmeM F9enry: QV of Anne RehvNopm idt F9enry Proka Anal.) Me,god CaPPXJ B— Boni IT M. Fnd Pima Mea RECOGNIZED OBLIGATION PAYMENT SCHEDULE Per AS 26 - SectWn 34117 FOR THE FIRST SIF MONTHS OF FISCAL YEAR 2012 -2015 R.O. Name IGets O0110a1im Payee Dewddddn T.IC,na aero, TOISIWe Wim, N. WF Paud MM12 ]w0 P.men60r manta SWI Ori Nov Dec2012 Taal SOPI.OPayment 10 Consuft Services Lance Soil 6 wn M1md Aurin Son— $ 11000 5 5,500 S 5,500 $ S 5 5 $ - S 5,500 Redevelop rrcrd Pr T. Tryst Fund RPTTF 19 BMMvws FFE Bcmbi Plua FUNWle Fu0aw 8E ' meat -ow 7690 3.6'5 31MS - 3,645 RPTTF 20 ENA DOrwn NOM ALAI Lexis Relay Centers PalenOal trialed Darya 10.000 10000 10,000 IO,WD RPTTF 21 Roddy ConsuNn Services WEen F.,., Bond Disdwum IDow 10000 10000 10,000 RPTTF 22 GwixwnwWiervpac LSA 23 34 DDA WIVNIlm de HfrPro VOnWes LLC Potential Liquidated Oemo es 25000 25000 25,000 25,000 RPTTF 25 DDA A PVMm TM CMrvat FaM LLC Puwcl mends fORCW 20000" - 200000 - 200,000 RPTTF 26 Camaci PnNese Order ESL Seryl Mainlenanre of R 600 300 50 50 50 w 50 50 >0. RPTTF 2] Le al Services - Pre aAdminP.N.an Bwt Bosl6 Wie er Redevelo moat Le al Counsel 233,331 90.000 15.000 15,000 1500" 15000 15000 15,000 90000 RPTTF 26 eadona Vern Reader BOerd Monts LIW' all 2,000 a'0 140 140 1.. I'0 1'0 110 MO OF. 29 Agm,, OpPenna-Ind 9r AOvtin Abc Don Moimlam Mm Red—cs Slava W Bond PLmlm ion Web Fargo Bank TR,.Bd MnamPal Clrales 16000 9,000 4000 5000 9,000 RPTTF 31 AdlNnutraWe All—..n city of Pzuaa Su.asswa rfAdmirustreWe ANoaalion nese 113,2! - 11325a 1134254 Gftbas. .AOowanw 32 mora eFeesMernum ICRMA lnsud,.-liJyll Cnera Hoped ID,OW - 10,000 10.00" RPTTF 33 Rice Company Oevel a kBeement Pace Fe Sats TU Mocatim Note 10091143 425,100 71100 125,000 150000 76000 425,IM OIP 34 Sme Tas Al.t.b NOW City of aynd S.I. T. Mou4m Note 1[553,710 311,710 79.400 99,100 100.4w - 8760 3117100Na 35 N.Payable Price at Muw Sas TU Me Cor 18.!5.065 _ OOrel 36 SERdl 2010-11 Loan Li Nwtl Walar FY 2010-I1 SEW Pemem b Slate 539,390 161! - - 16164 16,1!RPTTF 3] Unem Io nl 6,mflts EDDUnem o benefit coat to forma RDA a to eea 112,050 33 7W 5.4DO 5,400 5,400 5400 6,750 5.400 iF 3]]50 RPM M Harlan LymcU.nmerl,MastheoCiedl M andW b. LawAAod Income Holrsln My.— 642.268 - RPTTF Tma - This Page If) S 32,]38,165 $ 1,264.403 S 18L435 S 179,690 5 2]1,0'0 1 $ %,590 5 31,840 rIS 19TINIS IS1,264.463 (1) All paymml... an alinoR. Pelle 3 Of 4 Noma 01 Re4evebmrnm Apenry: Azusa ReMvebpmem A9eary Pmjeat Area(,) Ranrd Came, Pmeol Area EXHIBIT C RECOGNIZED OBLIGATION PAYMENT SCHEDULE Per AB 26 - Section 34177 FOR THE SIX MONTHS OF FISCAL YEAR 2012 - 2013 05103112 Pmjw Name l Dept Odi Son Pe a Des Son Total Monsoon, Total Due Dump Dept m Opti,lun Penoe Jul 2012 AugSet Paymems il Od monN Nov Den2012 Total Soule of Payment 1 City L&WEnterprism Loan Light ami Water 2SYear Secumal Note - RevoNn S 1,823,623 367,312 $ E S $ 5 S 361,312 $ 367.312 RedevelsPramtPm Tax Trvtl Fund RPTTF 2 City LodNOaSt Odi alion nano City of Azusa 1890 APFA Bong City Lease Loan Ore.Mwn 2,085.554 207,495 201,495 207,495 RPTTF 3 Sales Tax Reimbursement City of Azusa Sales Tax Due Cdy 242765 52,796 52,798 52,798 ONer 0 C' L4W Enterxise Loan Light and Water AOwnoelRehzbildatbn lnasovennal 1371."0 163.765 163765 - 163,765 RPTTF 5 SERAF-FY 2010-11 Loan Lesill and Water FY 201611 SERAF Payment to State 9,080 272 272 272 RPTTF 6 AEminif.W. AllosGan cift of Azusa Successor Aaa, AOminismwa Aloe 44,330 22,165 22,165 22,165 Admiaisbv9ve Allowance 7 8 9 10 11 12 13 14 15 16 17 16 19 20 21 22 23 24 Totals - The Page Tolls - Mar Odigal Gat n4 total - All Pe es 1 (1) All Payment amounts am aatlmaba. f 5,582992 S E S f 558;992 $ 813807 S 5 813,807 S 163,765 S - $ 163765 S $ S S $ 5 $ - S 5 - f $ E 1 $ 650042 S E 650,042 $ 813.807 813,807 Page 4 of 4