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Home My WebLink AboutResolution No. 2018-OB02RESOLUTION NO.2018-OB02 A RESOLUTION OF THE OVERSIGHT BOARD 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 19 2018 THROUGH JUNE 30, 2019 PURSUANT TO AB xl 26 AS AMENDED BY AB 1484 WHEREAS, Health and Safety Code Section 34169(h), enacted by AB x1 26, requires successor agencies to prepare a Recognized Obligation Payment Schedule ("ROPS") annually. WHEREAS, because the Oversight Board of the Successor Agency of the former Redevelopment Agency of the City of Azusa ("Board") previously adopted a ROPS, Resolution No. 2017-0804, dated February 8, 2017, is operative only through June 30, 2018, so that the Successor Agency of the former Redevelopment ("Agency") may continue to meet the Agency's recognized obligations, and NOW, THEREFORE, BE IT RESOLVED, determined and ordered by the Oversight Board 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 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 x1 26 and AB 1484 or such action by the 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 x1 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 previous ROPS but not fully expended. Section 4. The Board hereby approves and adopts ROPS 18-19, 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 34177, during the time period from July 1, 2018 through June 30, 2019. The Agency reserves the right to further amend the ROPS in the future in order to provide an accurate schedule. Section 5. The Board hereby directs that copies of this Resolution be submitted to the California State Department of Finance, the California State Controller's Office and the Los Angeles County Auditor -Controller and to be posted on the Agency's website. Section 6. Pursuant to Health and Safety Code Section 34179(h), all actions taken by the Oversight Board, may be reviewed by the California Department of Finance, and therefore, this Resolution shall not be effective for five (5) business days, pending a request for review by the California Department of Finance. APPROVED AND ADOPTED THIS 30th day of January, 2018. d Rob Gonzales, Ckfiirperson Oversight Board Successor Agency to the Former Redevelopment Agency of the City of Azusa ATTEST: ence Cornejo, ., Se et Oversight Board Successor Agency to the Former Redevelopment Agency of the City of Azusa I HEREBY CERTIFY that the foregoing Resolution No. 2018-OB02 was duly adopted by the Board Members of the Oversight Board of the City of Azusa at a special meeting thereof on the 30'' day of January 2018, by the following vote of Board Members: AYES: BOARD MEMBERS: DICKERSON, JOHNSON, HERNANDEZ, BOMMARITO, GONZALES NOES: BOARD MEMBERS: NONE ABSENT: BOARD MEMBERS: ROMERO f Je a Cornejo, ir,.e&cr Oversight oard Successor Agency to the Former Redevelopment Agency of the City of Azusa EXHIBIT A RECOGNIZED OBLIGATION PAYMENT SCHEDULE 18-19 July 1, 2018 through June 30, 2019 Recognized Obligation Payment Schedule (ROPS 18-19) - Summary Filed for the July 1, 2018 through June 30, 2019 Period Successor Agency: Azusa County: Los Angeles 18-19A Total 18-19B Total Current Period Requested Funding for Enforceable Obligations (ROPS Detail) (July - December) (January - June) ROPS 18-19 Total A Enforceable Obligations Funded as Follows (B+C+D): $ - . $ $ _ B Bond Proceeds C Reserve Balance D Other Funds E Redevelopment Property Tax Trust Fund (RPTTF) (F+G): $ 4,259,935 $ 1,938,208 $ 6,198,143 F RPTTF 4,259,935 1,938,208 6,198,143 G Administrative RPTTF _ _ H Current Period Enforceable Obligations (A+E): $ 4,259,935 $ 1,938,208 $ 6,198,143 Certification of Oversight Board Chairman: Pursuant to Section 34177 (o) of the Health and Safety code, I hereby certify that the above is a true and accurate Recognized Obligation Payment Schedule for the above named successor agency. 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MCBo9WE Sp15K0 x S 3M,9A }]1AI4 S 2]B,eta q, f qAM In N S 3 S 4 f E f Azusa Recognized Obligation Payment Schedule (ROPS 18-19) - Report of Cash Balances July 1, 2015 through June 30, 2016 (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 BOPS, 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 Cash Balance Tips Sheet A B C D E I F G H I Fund Sources Bond Proceeds Reserve Balance Other RPTTF Prior ROPS period balances Prior ROPS and RPTTF Bonds issued on Bonds issued on DDR RPTTF distributed as Rent, Non -Admin Cash Balance Information for ROPS 15.16 Actuals or before or after balances reserve for future grants, and (07101115-06130/16) 12/31/10 01/01/11 retained period(s) interest, etc. Admin Comments 1 Beginning Available Cash Balance (Actual 07101/15) 2,319,663 6,919 411,949 160,111 3,464,288 2 Revenue/Income (Actual 06130116) RPTTF amounts should tie to the ROPS 15-16 total distribution from the County Auditor -Controller during June 2015 and January 2016. 2,039,985 1,575,219 697 2,604,108 3,843,267 3 Expenditures for ROPS 15-16 Enforceable Obligations (Actual 06130116) 4,034,573) 1,582,136) - (73,821) (4,290,535) 4 Retention of Available Cash Balance (Actual 06130116) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 325,075 2 412,646 - 2,690,398 3,017,020 5 ROPS 15-16 RPTTF Balances Remaining No entry required 6 Ending Actual Available Cash Balance (06130116) CtoG=(1+2-3-4),H=(1+2-3-4+5) $ 8,069,146 $ 3,164,272 $ - - $ $ 147,642 $ 8,581,070 Azusa Recognized Obligation Payment Schedule (ROPS 18-19) - Notes July 1, 2018 through June 30, 2019 Item # Notes/Comments