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Home My WebLink AboutResolution No. OB-07-12RESOLUTION NO. OB -07-12 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, 2013 THROUGH JUNE 30, 2013 PURSUANT TO AB XI 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. S194861 ('Legal Action"), required the Successor Agency to prepare a "recognized obligation payment schedule" (`BOPS"), 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, 2013, through June 30, 2013; 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: TAROPS 3 Reso 7-26-I2.doe Section 1. Recitals. The Recitals set forth above are true and correct and are incorporated into this Resolution by this reference. Section 2. CEQA 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. 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 26th day of July, 2012. Chaifo Oversight Board Successor Agency -to the Former Redevelopment Agency of the City of Azusa FAROPS 3 Reso 7-26-12.doc ATTEST: sistant 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 -07-12 was duly adopted by the Board Members of the Oversight Board of the City of Azusa at a regular meeting thereof on the 26th day of July 2012, by the following vote of Board Members: AYES: BOARD MEMBERS: GONZALES, FRICK, LOWE, PARAGAS, ROMERO NOES: BOARD MEMBERS: NONE ABSENT: BOARD MEMBERS: ENGLUND, WOODS As stant City Clerk Oversight Board Successor Agency to the Former Redevelopment Agency of the City of Azusa F:TOPS 3 Reso 7-26-I2.doc EXHIBIT A RECOGNIZED OBLIGATION PAYMENT SCHEDULE - CONSOLIDATED FILED FOR THE JANUARY 2013 to JUNE 2013 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. 1 of 4 �0�2✓�- C-i�zc.,�,es SJe�slal�l Board Cary Current Total Outstanding Debt or Obligation Total Due During Fiscal Year Outstanding Debt or Obligation $ 70,867,463 $ 5,547,901 Outstanding Debt or Obligation . Total Due for Six Month Period ' $ 5,547,901 Available Revenues other than anticipated funding from RPTTF Enforceable Obligations paid with RPTTF Administrative Cost paid with RPTTF Pass-through Payments paid with RPTTF $ - $ 5,386,311 $ 161,590 $ - Fin Allowance (greater of 3% of anticipated Funding from RPTfF or 250,000. Note: Calculation should not h payments made with RPTfF. The RPTTF Administrative Cost figure above should not exceed this Allowance figure) $ 161,590 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. 1 of 4 �0�2✓�- C-i�zc.,�,es SJe�slal�l Board Cary EXHIBIT A Name of Redevelopment Agency: City of Azusa Redevelopment Agency Project Area(s) Merged Central Business UWS 8 Wesl End Pro'ed Area RECOGNIZED OBLIGATION PAYMENT SCHEDULE - Per AB 26 - Section 34177 en41 _9Ma 7116/2012 2of4 EXHIBIT A Name of Redevelopment Agency: City of Azusa Redevelopment Agency Project Area(s) Memed Central Bi D' t'ct 8 West End Project Area RECOGNIZED OBLIGATION PAYMENT SCHEDULE Per AB 26 - Section 34177 c tracer IFAR 201].2013 07118112 3 of 4 Payments by month Total Outstanding Total Due During Mar Apr Ma Jun 2013 Total Source of Payment Project Name l Debt Obligation Payee Description Debtor Obli ation Period 1 Jan 2013 Feb 16184 16,184 RP TTF 19 $ERAF-FY 2010-11 Loan Li bt and Water FY 2010-11 SERAF Payment to State $ 539,468 16 184 - - - -5,400 5,400 5,400 5 400 33,750 RPTTF 20 Unemployment Benefits EDD6,]50 Unem L benefit costs to former ROA employees 112 050 33,750 5,400 238,844 238,844 RPTTF 21 Nation Lee Pro eU fertne Coesdetl/Casden Light and Water low-Motl Income Housingadvance 973,611 238,84 - 121 103 121,103 dminisiradve Allovranre 22 Administrative Allocation Ci of Azusa Su=ssorA en Administrative Allocation 121,103 121,103 - - - - 1428710 1428,710 RPTTF 23 Payment Resermflon Ci of Azusa Reserve for Jul 2013 Bond Debt Svre. and ex s. 1 428 710 1,428710 24 L5- 26 27 28 29 30 31 32 >7 34 35 36 37 38 $ 3,174,942 4 1838,591 $ S,d00 $ 5,400 $ 5AW $ 5,400 $ 8,750 $ 1,810,241 $ 1,838,591 otals - This Page (1) (1) Amounts are estimates 3 of 4 Name of Redevelopment Agency: Azusa Redevelopment Agency Project Area(s) Ranch Center Project Area EXHIBIT A COGNIZED OBLIGATION PAYMENT SCHEDULE Per AB 26 - Section 34177 FOR THE SECOND SIX MONTHS OF FISCAL YEAR 2012 - 2013 01/16112 4of4 Total Outstanding Total Due During Payments by month Project Name /Debt Obligation Payee Description Debt or Obligation Period 1 Jan 2013 Feb Mar Apr May 2013 ,tun Total Source of Payment 1 City LBW Enterprise Loan Light and Wafer 25 -Year Severed Note- Revolving$ 2,044,661 $ ' 1,146,584 $ $ - $ $ 2 Ci Loan/Debt Obligation Bon C' w Azusa 1990 APFA Bond Ci Lease Loan Drawdown 2,211,144 176,892 - $ $ 1 186,584 $ 1,146,584 Redevelopment Pro Tax Trust Fund (RPTTF) 3 Ci LBW Enterprise Loan Li ht and Water Advance/Rehabilitation Im rovements 242,765 ifi 994 - - 176,892 176,892 RPTTF 4 SERAF-FY 2010-11 Loan Light and Water FY 2010.11 SERAF Payment to State 9,081 9,081 - 16,994 16,994 RPTTF 5 Administrative Allocation Cit of Azusa Successor A enc Administrative Alloc 40,487 40,487 - - - 9,081 9,081 RPTTF 6 40,487 40,487 Administrative Allowance 7 0 8 0 9 0 10 0 n a 1z 0 13 0 td 0 75 0 16 0 17 0 18 0 19 0 20 0 21 0 22 0 23 0 24 a 2s 0 zs 0 27 0 ze a 29 0 0 Totals - This Page $ 4,548,138 $ 1,390,038 $ $ $ - g g$ Totals- Other Obligations g $ 1,390,038 $ 1,390,038 Grand total -All Pages (1) - $ 4,548138 g $ 7390,038 E $ E $ $ g $ E f E 1,390,038 11 E 1790,078 (1) Amounts are estimates 4of4 Name of Successor Agency EXHIBIT A RECOGNIZED OBLIGATION PAYMENT SCHEDULE - CONSOLIDATED FILED FOR THE JANUARY 2013 to JUNE 2013 PERIOD FORMER REDEVELOPMENT AGENCY OF THE CITY OF AZUSA REVISED Certification of Oversight Board Chairman: Pursuant to Section 341.77(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. 1 of 4 Name Title Signature Date Current Total Outstanding Debt or Obligation Total Due During Fiscal Year Outstanding Debt or Obligation $ 70,867,463 $ 5,547,901 Outstanding Debt or Obligation Total Due for Six Month Period $ 5,647,901 Available Revenues other than anticipated funding from RPTTF Enforceable Obligations paid with RPTTF Administrative Cost paid with RPTTF Pass-through Payments paid with RPTTF $ $ 5,386,311 $ 161,590 $ - Administrative Allowance (greater of 3% of anticipated Funding from RPTTF or 250,000. Note: Calculation should not include pass-through payments made with RPTTF. The RPTTF Administrative Cost figure above should not exceed this Administrative Cost Allowance figure) $ 161,590 Certification of Oversight Board Chairman: Pursuant to Section 341.77(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. 1 of 4 Name Title Signature Date EXHIBIT A Name of Redevelopment Agency: City of Azusa Redevelopment Agency Project Area(s) Merged Central Business District & West End Project Area RECOGNIZED OBLIGATION PAYMENT SCHEDULE Per AB 26 - Section 34177 FOR THE SECOND SIX MONTHS OF FISCAL YEAR 2012 - 2013 REVISED 7/1612012 2of4 Project Nama/Debt Obligation Pe Desch tion Total Outstanding Debt or Obligation Total Due During Period 1 Jan 2013 Feb Payments month Mar Apr May I Jun 2013 Total Source of Payment 1 Tax Allocation Bonds Bond Holders 2008 Series A Merged T.A. Bonds E 6,485,000 $ 244,050 $ 244,050 $ S $ S E S 214,050 Redevelopment Pro Tex Trust Frek (RPTTF) 2 Tax Allocation Bonds Bond Holden 2003 Merged T.A. RefundingBonds 7,880,000 157,427 157,427 157,427 RPTTF 3 Tax Allocation Bonds Bond Holders 2005 Merged T.A. Bands 9,429 889 174,712 174,712 - 174,712 RPTTF 4 Light Fund Advance LI ht and Water Advance/577-645 Foothill/Krems Site 1,213,209 72,793 - 72,793 72,793 RPTTF 5 Light Fund Advance Light and Water Ci Adv./Autadealershi 5,202,610 273,137 - - 273,137 27J,137 RPTTF 8 Water Fund Advance Light and Water Ci Adv./619fi21 N. Azusa Tolle Bld 199,785 21,268 - 21,268 21,268 IRPTTF 7 ReimbAgreement CRY of Azusa ReimbA mm/2003 Refundin GOP's 2785,000 359,650 359,650 359,850 RPTTF e Housing Bonds Bond Holden 2008 Series B Housing T.A. Bonds 10,975,000 372,104 372,104 - 372,104 RPTTF 9 Tax Allocation Bonds Bond Holden 2007 Series A Tax Allocation Bonds 14,280,000 417,627 417,627 - 417,627 RPTTF 10 Tax Allocation Bonds Bond Holders 2007 Series B Tax Allocation Bonds 4,450,000 112,084 112,084 112,084 RPTTF 11 Arbitrage Compliance Arbitrage Compliance Specialists Arbitrage calculation for Bonds 6,100 775 775 775 RPTTF 12 Property Tax Consulting HDL Coren B Cone Tax Increment Audit Services 11,000 5,500 - 2,750 2,750 5,500 RPTTF 13 lConsulting Services Lance Sd18 Lu hard Audit Services 16,000 10,500 5,250 - 5,250 10,500 RPTTF 14 Bambinos FFE Bambina's Pizza Fumiluns Fixtures & Equipment Loan 7,690 3,845 3,845 3,845 RPTTF 15 Contact Purchase Order E & L Services Maintenance of Agency Property 600 300 50 50 50 50 1 50 50 300 RPTTF 16 Legal Services- Pm'ect AdministratiBest Best & K e er Redevelopment Legal Counsel 180,000 90,000 15,000 15,000 15,000 15,000 15,000 15,000 90,000 RPTTF 17 Consulting Services Urban Futures Bond Disclosures 10,000 - RPTTF 18 Bond Administration Wells Fargo Bank Trustee Administration Charges 12,500 3,500 - 3,500 3,500 RPTTF Totals - This Page (1) Totals - Page 2(i) Totals - Other Obligations Grand total - All Pages (1) Amounts are estimates 63,144,383 3,174,9421,838,591 01 K$=.319.325 2,319,272 01 $ 4,157,863 1,861799 5,400 0 51,867,199 15,050 5,400 0 E 20,450 18,575 5,400 0 S 23,975 15,050 15,050 5,400 6,750 0 0 E 20,450 521,800 393,748 1,810,241 0 52,203,989 2,319272 1,838,591 0 54,157,863 2of4 Name of Redevelopment Agency: City of Azusa Redevelopment Agency Project Area(s) Merged Cermal Business Dismct S West End Project Area EXHIBIT A GNIZED OBLIGATION PAYMENT SCHEDULE Per AB 26 - Section 94177 FOR THE SECOND SIX MONTHS OF FISCAL YEAR 2012-2013 REVISED 0711&12 Project Name l Debt Obfi anon Payee Description ding Obligation Total Due During Period 1 Jan 2013 PaymeMsb month Feb Mar Apr M Jun 2013 Total Source of Payment 19 SERAF-FY2010-H Loan Light and Water FY 201041 SERAF Payment to 'tam $,468 p 16,184 - - 16,184 16,184 RPTTF 20 unemployment Benefits EDO Unam I. bene8l mals to former RDA em2050 33,750 5,400 5,400 5,400 5.400 fi,750 5,400 33,750 RPTTF 21 Haden Lee P form CoasdedlCasden Li ht and Water LowWod Income Housin advance3.611 238,844 - 238,844 238,844 RPTTF 22 Adminiseative Allocation Ci of Azusa SuccessorA enc Administrative Alloca,103 121,103 - 121103 121,103 AdminlsbaO.Allowance 23 Pa ent Reservation Ci of Azusa Reserve for J 2013 Bond Debt Svcs. 710 1.428,710 - - 1.428.710 1,428.710 RPTTF 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 Totals - This Pegs (1) (t) Amounts ase estimates $ 3,174,942 $ 1,838,591 E 5,400 $ 5,400 $ 5,400 $ 5,400 $ 6,750 S 1,810,241 S 1,838,591 3of4 Name of Redevelopment Agency: Azusa Redevelopment Agency Project Ama(s) Ranch Center Project Area EXHIBIT A RECOGNIZED OBLIGATION PAYMENT SCHEDULE Per AB 26 - Section 34177 FOR THE SECOND SIX MONTHS OF FISCAL YEAR 2012 - 2013 REVISED 07116112 Project Name / Debt Obligation Payee Description Total Outstanding Debt or Obligation Total Due During Period 1 Jan 2013 Feb Payments by month Mar Apr May Jun 2013 Total Source of Payment 1 City L&WEnterprise Loan Light and Water 25 -Year Secured Note - Revolvin $ 2,044,661 S 1,146,584 $ $ $ $ E $ 1,146,584 $ 1,146,584 Redevelopment Prop Tax Trust Fund RPTTF 2 City Loan/Debt Obligation Bond City of Azusa 1990 APFA Bond City Lease Loan Drawdown 2.211,144 176,892 176,892 176,892 RPTTF 3 City L&WEnterprise Loan Light and Water Advance/Rehabilitation Improvements 242,765 16,994 16,994 16,994 RPTTF 4 SERAF-FY 2010-11 Loan Light and Water FY 2010-11 SERAF Payment to State 9,081 9,081 9,081 9,081 RPTTF 5 Administrative Allocation City of Azusa Successor Agency Administrative Alloc 40,487 40,487 40,487 40,487 Administrative Allowance 6 0 7 0 a 0 9 0 10 0 11 0 12 0 13 0 14 0 15 0 16 0 17 0 18 0 19 0 20 0 21 0 22 0 23 0 24 0 25 0 26 0 27 0 28 0 29 0 Totals - This Page Totals- Other Obligations Grand total -All Pages 11 (1) Amounts are estimates $ 4,548,138 $ f 4,648 178 1 $ 1,390,038 E 1 f 1,190,018f $ $ E $ - $ - $ $ f E E - $ E S f $ $ f 1,390,038 - 1,790,078 $ 1,390,038 Is f 1,390 018 4of4