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Home My WebLink AboutAzusa 20-21 ROPS and resolutionsRESOLUTION NO. OB-2020-01 A RESOLUTION OF THE LOS ANGELES COUNTY FIRST SUPERVISORIAL DISTRICT CONSOLIDATED OVERSIGHT BOARD APPROVING ROPS 20-21 A&B, OF THE SUCCESSOR AGENCY TO THE FORMER REDEVELOPEMENT AGENCY TO THE CITY OF AZUSA WHEREAS, pursuant to ABx 1 26, enacted on June 28, 2011, and as subsequently amended by AB 1484, SB 341, and SB 107 ("Dissolution Act"), the Redevelopment Agency to the City of Azusa was dissolved as of February 1, 2012, and the City of Azusa elected to serve as the Successor Agency to the former Redevelopment Agency to the City of Azusa. WHEREAS, pursuant to Health and Safety Code Section 34179 (q), commencing on and after July 1, 2018, the County of Los Angeles, where more than 40 oversight boards were created by the Dissolution Act, shall have five consolidated oversight boards each encompassing the five supervisorial districts; WHEREAS, the 1st Supervisorial District Consolidated Oversight Board ("1st District Consolidated Oversight Board") has jurisdiction over the Successor Agency of the Former Redevelopment Agency to the City of Azusa; WHEREAS, the 1st District Consolidated Oversight Board held a regular/special meeting on January 27, 2020. NOW THEREFORE, THE LOS ANGELES COUNTY 1ST SUPERVISORIAL DISTRICT CONSOLIDATED OVERSIGHT BOARD DOES HEREBY RESOLVE AND FIND AS FOLLOWS: Section 1. Pursuant to its responsibility set forth in Section 34180(g) of the California Health and Safety Code, the 1st District Consolidated Oversight Board hereby approves the Successor Agency's Recognized Obligation Payment Schedule 19-20 A&B (ROPS), attached hereto as Exhibit "A". 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. Page 2 HOA.102440995.1 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 20-21, 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, 2020 through June 30, 2021. 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. Section 7. The 1st District Consolidated Oversight Board's Clerk shall certify the adoption of this Resolution. Section 8. The Successor Agency's officials and staff are hereby authorized and directed to transmit this Resolution and take all other necessary and appropriate actions as required by law in order to effectuate its purposes. Page 3 HOA.102440985.1 PASSED, APPROVED AND ADOPTED this 27th day of January 2020, by the following vote: Vomytq M-ei, IWe'S Ayes: okvwie -whihe, cam, 961rrm9 Rojas, SzvwlomaI \Abe Chan- Kof+t ,bt", Chap Ejq�c)y /I - Noes: tqo WE Abstain: NtbNL Absent: NNIC "zx-- Mi el Gre k, Chair, First Supervisorial Df del Consolidated Oversight Board ATTEST: eL. a Z-�Z- Z"' � 0191Ad. Castaneda, Deputy Clerk HOA.102440985.1 Recognized Obligation Payment Schedule (ROPS 20-21) - Summary Filed for the July 1, 2020 through June 30, 2021 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 Redevelopment Property Tax Trust Fund (RPTTF) (F+G) F RPTTF G 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. 20-21A Total 20-21B Total ROPS 20-21 (July - (January - Total December) June) $ 650,798 $ 650,798 $ 1,301,596 650,798 650,798 1,301,596 $ 3,810,612 $ 858,467 $ 4,669,079 3,685,612 733,467 4,419,079 125,000 125,000 250,000 $ 4,461,410 $ 1,509,265 $ 5,970,675 Name Title Isl S tur Date Azusa Recognized Obligation Payment Schedule (ROPS 20-21) - ROPS Detail July 1, 2020 through June 30, 2021 A B C D E F G H I J K L M N O P Q R S T U V W ROPS 20-21A (Jul - Dec) ROPS 20-21 B (Jan -Jun) Item Agreement Agreement Project Total ROPS 20-21A 20-21B Fund Sources Fund Sources # Project Name Obligation Type Execution Termination Payee Description Area Outstanding Retired 20-21 Total Total Date Date Obligation Total Bond Reserve Other RPTTF Admin Bond Reserve Other RPTTF Admin Proceeds Balance Funds RPTTF Proceeds Balance Funds RPTTF 1 $43,632,992 $5,970,675 $- $- $650,798 $3,685,612 $125,000 $4,461,410 $- $- $650,798 $733,467 $125,000 $1,509,265 4 Light Fund Third -Party 04/01/ 06/27/2033 Light Advance/577-645 MCBD&WE N$- Advance Loans 1997 and Foothill/Krems Site Water 5 Light Fund Third -Party 04/21/ 10/01/2033 Light City MCBD&WE - N$- Advance Loans 1997 and Adv./Autodealership Water 6 Water Fund Third -Party 11/07/ 06/30/2025 Light City Adv./619-621 MCBD&WE N$- Advance Loans 2005 and N. Azusa (Talley Water Bldg) 7 Reimb. Bond 12/01/ 08/01/2020 City of Reimb Agrmt/2003 MCBD & 863,590 N $863,590 - - 863,590 - $863,590 - - - - $- Agreement Reimbursement 2003 Azusa Refunding COP's WE Agreements 19 SERAF FY City/County 05/02/ 06/30/2030 Light FY 2010-11 SERAF MCBD&WE - N$- 2010-11 Loan Loan (Prior 06/ 2011 and Payment to State 28/11), Other Water 21 Harlan Lee Third -Party 07/01/ 06/30/2016 Light Low -Mod Income MCBD&WE - N$- Proj.(formerly Loans 1991 and Housing advance Coastfed/ Water Casden) 22 Administrative Admin Costs 07/01/ 06/30/2017 City of Successor Agency MCBD & 250,000 N $250,000 - - 125,000 $125,000 - - - 125,000 $125,000 Allocation 2012 Azusa Administrative WE Allocation 24 City L&W Third -Party 06/30/ 06/30/2014 Light 25 - Year Secured Ranch - N$- Enterprise Loans 1989 and Note - Revolving Center Loan Water 25 City Loan/ City/County 07/01/ 06/30/2039 City of 1990 APFA Bond Ranch - N$- Debt Loan (Prior 06/ 1991 Azusa City Lease Loan Center Obligation 28/11), Other Drawdown (Bond) 26 City L&W Third -Party 08/07/ 06/30/2039 Light Advance/ Ranch N$- Enterprise Loans 1989 and Rehabilitation Center Loan Water Improvements 27 SERAF FY SERAF/ERAF 05/02/ 06/30/2030 Light FY 2010-11 SERAF Ranch N$- 2010-11 Loan 2011 and Payment to State Center Water 34 Administrative Housing Entity 07/01/ 06/30/2017 LA Low -Mod Income MCBD & - Y$- Allocation Admin Cost 2014 County Housing WE Administrative Allocation 35 1989 Ranch City/County 09/11/ __[06/30/2030 City of Public Improvement Ranch N Center Loan (Prior 06/ 2014 Azusa Center A B C D E F G H I J K L M N O P Q R S T U V W ROPS 20-21A (Jul -Dec) ROPS 20-21B (Jan -Jun) Item Agreement Agreement Project Total ROPS 20-21A 20-21B Fund Sources Fund Sources # Project Name Obligation Type Execution Termination Payee Description Area Outstanding Retired 20-21 Total Total Date Date Obligation Total Bond Reserve Other RPTTF Admin Bond Reserve Other RPTTF Admin Proceeds Balance Funds RPTTF Proceeds Balance Funds RPTTF Project Loan 28/11), Other 36 1990 Ranch City/County 09/11/ 06/30/2030 City of Public Improvement MCBD&WE N$- Center/ Loan (Prior 06/ 2014 Azusa Central 28/11), Other Business District Loan 37 1989 West City/County 09/11/ 06/30/2030 City of Public Improvement West End - N$- End Project Loan (Prior 06/ 2014 Azusa related to Price Loan 28/11), Other Club Project 39 Tax Allocation Bonds Issued 10/14/ 08/01/2034 Bond 2014 Subordinate MCBD & 6,810,000 N $1,095,644 - - - 968,072 $968,072 - - 127,572 $127,572 Bonds After 12/31/10 2014 Holders Tax Allocation WE Refunding Bonds 2015A Subordinate MCBD & 14,315,000 N $504,212 252,106 $252,106 - - 252,106 $252,106 40 Tax Allocation Bonds Issued 09/23/ 08/01/2036 Bond Bonds After 12/31/10 2015 Holders Tax Allocation WE Refunding Bonds 41 Tax Allocation Bonds Issued 09/23/ 08/01/2036 Bond 2015B Subordinate MCBD & 14,735,000 N $919,806 - - 627,172 - $627,172 - - - 292,634 - $292,634 Bonds After 12/31/10 2015 Holders Tax Allocation WE Refunding Bonds 42 City City/County 06/25/ 08/01/2036 City of Enterprise Loan MCBD & 1,339,402 N $1,301,596 - - 650,798 - - $650,798 Enterprise Loan (Prior 06/ 2015 Azusa WE Loan 28/11), Cash exchange 44 Tax Allocation Bonds Issued 11/02/ 08/01/2022 Bond 2017 Series A MCBD & 2,140,000 N $746,184 - - 723,491 - $723,491 - - 22,693 - $22,693 Bonds After 12/31/10 2017 Holders Refunding bonds WE 45 Tax Allocation Bonds Issued 1. 11/02/ 08/01/1932 Bond 2017 Series B MCBD & 3,180,000 N $289,643 - - 251,181 - $251,181 - - - 38,462 - $38,462 Bonds After 12/31/10 2017 Holders Refunding bonds WE Azusa Recognized Obligation Payment Schedule (ROPS 20-21) - Report of Cash Balances July 1, 2017 through June 30, 2018 (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 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. A B C D E F G H ROPS 17-18 Cash Balances Fund Sources Comments (07/01/17 - 06/30/18) Bond Proceeds Reserve Balance Other Funds RPTTF Bonds issued Bonds issued Prior ROPS Rent, grants, Non-Admin on or before on or after RPTTF and interest, etc. and Admin 12/31/10 01/01/11 Reserve Balances retained for future periods) 1 Beginning Available Cash Balance (Actual 07/01117) 325,366 65 414,040 3,072,718 974,544 RPTTF amount should exclude "A" period distribution amount. 2 Revenue/Income (Actual 06/30/18) 8,232,832 10,343,268 1 12,751 4,895,310 Includes 2017A and 2017B Bond proceeds in RPTTF amount should tie to the ROPS 17-18 total C2 and D2. distribution from the County Auditor -Controller 3 Expenditures for ROPS 17-18 Enforceable Obligations 8,558,180 10,324,668 1,826,427 2,885,482 Includes refunding of 2007A and 2007B in C3 (Actual 06/30/18) and D3. 4 Retention of Available Cash Balance (Actual 06/30/18) 414,041 LoMod proceeds that will be transfer ed to LA RPTTF amount retained should only include the amounts County. distributed as reserve for future period(s) 5 ROPS 17-18 RPTTF Prior Period Adjustment RPTTF amount should tie to the Agency's ROPS 17-18 PPA No entry required form submitted to the CAC 6 Ending Actual Available Cash Balance (06/30/18) $18 $18,665 $- $1,259,042 $2,984,372 CtoF=(1+2-3-4),G=(1+2-3-4-5) Azusa Recognized Obligation Payment Schedule (ROPS 20-21) - Notes July 1, 2020 through June 30, 2021 Item # Notes/Comments ,4.._...... ..� ._.........._............. ........ ....... �....� ......_..,,....w .._...::...wW........::... �,...,:.�_.:::..,,� ,.._............ _.... ........... ........ ._.....,....._ ...... 5 .............;i,,........» ......,...........M_....... ....� .� . ......_. _.� .. .............. _....... _..... _.......... � . ... ,,w » _._..� ........... _.......... _.. ..... ... ..... ....� _.. m ......._.. ....:�..............._�,.........� . .........�..,,:......_.......:........:_..._T....._ ..:W..W,: _ _ ..�..__........ _...... ,.__.._...,........._.. ,,... ...........� 7 .. _.........:.. ::.... 19 w --- -- -- I ... .� .. �..._...........:.._._------- _._._......y......... :......... _........ .... _ w,W..� ,W,.,._..� � m.. �m..�....... _.... ._......... — ... ........ ...... _. 21 22�......................._.W........_....._..._......._...W._..._.. 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