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Home My WebLink AboutReso 2017-R02 - ROPSRESOLUTION NO. 2017-R02 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 JULY 1, 2017 THROUGH JUNE 30, 2018 (ROPS 17-18)PURSUANT TO AB xl 26 AS AMENDED BY AB 1484 WHEREAS, Health and Safety Code Section 34169(h), enacted by AB x 1 26, requires successor agencies to prepare a Recognized Obligation Payment Schedule ("ROPS") every twelve-month period. WHEREAS, because the Successor Agency of the former Redevelopment Agency of the City of Azusa ("Agency") previously adopted a ROPS, Resolution No. 2015-R20, dated September 21, 2015, is operative only through June 30, 2016, 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. Section 2. The Recitals set forth above are true and correct and incorporated herein by reference. 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 x 1 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 x 1 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. Section 4. Section 5. Section 6. 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-lSA, ROPS 14-lSB, ROPS 15-16A, and ROPS 15-16B but not fully expended. The Agency hereby approves and adopts ROPS 17-18, 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 July 1, 2017 through June 30, 2018. The Agency reserves the right to further amend the ROPS in the future in order to provide an accurate schedule. The Agency Secretary shall certify to the adoption of this Resolution. This Resolution shall become effective upon its adoption. PASSED, APPROVED AND ADOPTED this 61h day of February, 2017. J6seph Romero Rocha Chairman ATTEST: CERTIFICATION I, Jeffrey Lawrence Cornejo Jr., City Clerk of the City of Azusa, do hereby certify that Resolution No. 2017-R02 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 61h day of February 2017, by the following vote of the Agency: AYES: NOES: ABSENT: AGENCY MEMBERS: GONZALES, MACIAS, CARRILLO, ALVAREZ, ROCHA AGENCY MEMBERS: NONE AGENCY MEMBERS: NONE APPROVED AS TO FORM: -~ Best Be t & Krieger, L Legal C tmsel • EXHIBIT A RECOGNIZED OBLIGATION PAYMENT SCHEDULE 17-18 Recognized Obligation Payment Schedule (ROPS 17-18) -Summary Filed for the July 1, 2017 through June 30, 2018 Period Successor Agency: Azusa County: Los Angeles Current Period Requested Funding for Enforceable Obligations (ROPS Detail) A Enforceable Obligations Funded as Follows (B+C+D): B Bond Proceeds C Reserve Balance D Other Funds E F G Redevelopment Property Tax Trust Fund (RPTTF) (F+G): RPTTF Administrative RPTTF H Current Period Enforceable Obligations (A+E): 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. Name Signature $ $ $ 17-18A Total (July -December) -$ 3,480,098 $ 3,355,098 125,000 3,480,098 $ Title Date 17-188 Total (January -June) - $ 1,448,652 $ 1,323,652 125,000 1,448,652 $ ROPS 17-18 Total 4,928,750 4,678,750 250,000 4,928,750 AIUH Recognl11d Obllgallon Poymonl Sohoduio IROPS 17·18). ROPS D•••ll July 1, 2017 through June 30, 2018 !Report Amounts In Whole OoU1ro) A B c D E F G H I J K L M N 0 p Q R s T u v w 17·18A IJuly ·December) 17·188 IJ•nu•rv • Junel Fund Sources Fund Sourc•• ConlractJAgreemenl Con1racl/Agreement Tolal Oulslanding ROPS 17-18 17-18A 17-188 Item# Project Name/Debi Obligation ObliQ.alion Type E.¥ecuLion Dale Ten:nlnation Dale Pl~H Descr-tillonlProjecl Scope ProleclAfto Debt or ObUgation ReUJed Tolel Bon.cl Proceeds RHerveBalanco Olher Funds RPTTF AdminRPTlF Total Bond Procseds Reserve Balance-Other Funds RPTTF Admin RPTTF Tolal s 5"3111303 $ .C0287eio s. -s • l -$ 3"'65.098 ' 1'50Q0 $ 3'4.8009a ' -,. -1~ -. t ' 17'iDDO ..I 1 4'8GS? =-a;;= -== lil=l!S -• :;:,,,...,.1....,., H._,,_ " 7 Re1mb Agreement 00111:1111. 1.,11uea OrJ or S.!oro 121112003 B/1/2020 C1ly of Azusa Reimb Agrml/2003 RefUnding COP's MCBD & WE 1,745,000 N I 354,590 322,7'34 $ 322,734 31,85e $ 31;!56 1'li31110 1 () h;t; AJfo;at~ri llo/1(11. 8-oMJ ltJ._..d On or 81'°'• 7t3ff2.007 Bf112038 Bond Holders 2007 SClllU 8 TH ~tton Bondi MCBD&WE 3,930,000 N s 322JJ70 222,4.t!S I 222,448 09,628 $ 99,628 12iJU!O 14 Bambmo·a ffE BUtlrHIH 1pcitnlwt 1128(2009 112612017 Bambino's Pizza Avadiablo: rurnflure Fixlure & MCBD & WE 7,690 N I I $ An•Hl'llilnla EQUll)m1n1 Loan balance ............ -· -·Gt ......... ~ ,_. .. -~. ,,._. """'' .. " " .. _ ll ,,,,_, !"'-"''v n n ltidm lrlltlrlt.lhle Alloe•lbli AdmmC0-1111 mi~m etJQQ.Lltl CMyalAt.uu SU«11.W11 A;•ni:.y Admirdlfaih MC"BCIWt:;: 250 ..... N s 21C.OOO 125,000 ' 12S,OOO 12!1,000 s 1:15.00Q l\lrotlr.Gl'I .... -~: l"MJ-· 1--""""',_ iii ~. ·-· " .II ,..,~,r1 11MI""''·.._.,, ,_ ..... ·-· ·-n l2 ODA IA11.11•1An"GW'lttri"I OPNODAJ&onillLH:l~n fitiv.11111 ll(JOl101> r111 Cti.:lrvJ1 F"a.miltv L.L.C P\Jl:IJ1c:ltt1oiro'ltrri1nt MCOO&W< :lOQOOO N • $ • 34 .U.Ulnkil11111V11' ADocihClt'I Housing Enrny Aamm Coal 711/2014 6/JOf20f7 lACounly l.olll'·MIXI trum1 HoJ.tm; MCBD &WE 150,000 " $ 150,000 75,000 $ 75,000 75,000 $ 75,000 Mmlnltlr•tl'll'O AIRclhOl'I ""' .. 1w1•-•• ---v ..... _ ,.._..,...._. .. ... .-·--~-,_ ---" •r•-l.Olll .... ,_ .. --_ ... _ ~~--·r-" 39 TH AUClcttlOn BQl'MJt Bond• IH1.111d Aft!!'r 12(.Ul,O 1011'412014 81112034 Bond Holders 201'4 Subordinate TeK Alloca11on MCBD & WE 9,025,000 " $ 1,090,744 904,922 $ 904,972 185,522' $ 186,82.2 Refl.ll\dinn Bond.I. 40 Tax Allocation Bonds SQnd•l11.u11c1Aft.!'1 IVlU!t> 9/Zl/2015 enf.2036 Bona Holders 2015A Subordinate Tax ATiocaf1on MCBO&WE 14,315,000 H s 504,212 252,106 $ 252,106 252,106 $ 252,100 Rafundiao Bonds 41 ln~itlon lkl~t Bond~ l••u•d Afttu 12131,10 912312015 8/1/2036 Bond Holders 20158 Subordmale Tex Alloeet1on MCBD & WE 15,705,000 " $ 925,631 621,497 $ 621,497 3CU,134 • 311.tf,134 Refundiila Bonds 42 City Enterprise Loan Cily/Counly 1..Glll'l IP1iGt 612512015 8/112036 CT!yofAzusa E.n1erpr1se Loan MCBO &WE 3,499,613 " I 549,101 274,550 $ 274,550 274,55"1 $ 274',65"1 06128111) C11n. tltCh.aM• 43 Tax Alloca!ion Bonds [BondJ lsw11d. On at:•Bitlate 713112007 B/112035 Bond Holders 2007 Series A Tex Allocal1on Bonds MCBD & WE 4,480,000 N $ 782,396 BB1,841 $ ea1,a.41 100,555 $ 10!1,"'55 12/31110 ... H l ' I Azusa Recognized Obligation Payment Schedule (ROPS 17-18) -Report of Cash Balances (Report Amounts in Whole Dollars) Pursuant to Health and Safety Code section 34177 (I), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, 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 Tios Sheet I A B c D E F G H I Fund Sources Bond Proceeds Reserve Balance Other RPTTF Prior ROPS Prior ROPS period balances RPTTF Bonds issued Bonds issued and DOR RPTTF distributed as Rent, Non-Adm in on or before on or after balances reserve for future grants, and Cash Balance Information by ROPS Period 12/31/10 01/01/11 retained period(s) interest, etc. Admin Comments ROPS 15-16B Actuals (01/01/16 -06/30/16) 1 Beginning Available Cash Balance (Actual 01/01/16) 332,501 -411 ,949 -166,398 420,683 2 Revenue/Income (Actual 06/30/16) RPTTF amounts should tie to the ROPS 15-16B distribution from the County Auditor-Controller during June 2016 236,837 609,316 2,593,287 -5,231 3,843,267 3 Expenditures for ROPS 15-16B Enforceable Obligations (Actual 06/30/16) 244,254 609,314 --73,822 1.246,930 4 Retention of Available Cash Balance (Actual 06/30/16) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 325,084 2 3,005,236 5 ROPS 15-16B RPTTF Balances Remaining No entry required 6 Ending Actual Available Cash Balance C to G = (1 + 2 - 3 -4), H = (1 + 2 - 3 - 4 -5) $ -$ -$ -$ -$ 97,807 $ 3,017,020