No preview available
HomeMy WebLinkAboutItem 2b: Succesor Agency Resolution 3: Obligation Payment Schedule: July 1 - December 31, 2012 ti` 4�FrARc,`�4 AxYx.l S.19Y) !I'M k7 �p\ i`b /4"°'`Y°4 o STAFF REPORT Development Services Department DATE: April 3, 2012 TO: Mayor and City Council FROM: Jason Kruckeberg, Assistant City Manager/Development Services Director5W- By: Jerry Schwartz, Economic Development Manager-14s SUBJECT: CONSIDERATION OF SUCCESSOR AGENCY RESOLUTION NO. 3 APPROVING AND ADOPTING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS) FOR THE PERIOD OF JULY 1 — DECEMBER 31, 2012 PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177(1)(1) Recommendation: Adopt Successor Agency Resolution No. 3 SUMMARY Assembly Bill 1X 26 required that all redevelopment agencies be dissolved as of February 1, 2012, and that successor agencies become responsible for winding down former redevelopment agencies. The City of Arcadia elected to become the Successor Agency to the Arcadia Redevelopment Agency, and has been acting in that capacity since February 1St. One of the Successor Agency's responsibilities is to prepare a Recognized Obligation Payment Schedule (ROPS) for each six month period. The ROPS sets forth the debts and obligations of the former Agency for the specified period. It is subject to the approval of the Successor Agency and the Oversight Board before any of the listed obligations can be paid. BACKGROUND On June 28, 2011, as part of the California State Budget, the Governor signed AB 1X 26 and AB 1X 27, which dissolved the Redevelopment Agency unless the City agreed to make specific payments to Los Angeles County. The Arcadia City Council approved an ordinance agreeing to make these payments. The California Redevelopment Association and the League of Cities filed a lawsuit challenging the constitutionality of these bills. On August 11, 2011, the State Supreme Court agreed to take the case and issued stays on all of AB 1X 27 and portions of AB 1X 26. On December 29, 2011, the California Supreme Court issued its opinion, upholding AB 1X 26 and invalidating AB 1X 27. The impact was to dissolve all redevelopment agencies, effective February 1, 2012. DISCUSSION The City of Arcadia chose to become the Successor Agency to the Arcadia Redevelopment Agency at the January 3rd meeting. One of the responsibilities of the City, as the Successor Agency, is to prepare the Recognized Obligation Payment Schedule (ROPS), which sets forth the nature, amount, and source(s) of payment for all "enforceable obligations" of the Agency to be paid by the Successor Agency. At the February 21st meeting, acting as the Successor Agency, the City Council approved the Initial ROPS (IROPS) for the period of February 1 — June 30, 2012. That document was sent to the LA County Auditor-Controller, State Controller, and Department of Finance for review. It will be presented to the Oversight Board for approval. The IROPS and future ROPS are critical, because, after May 1, 2012, the Successor Agency can only make payments on enforceable obligations based on the ROPS. The Successor Agency is required to prepare a ROPS for each six month period. It will be used by the Los Angeles County Auditor-Controller to determine how much will be dispersed from the tax increment trust fund to pay the enforceable obligations. The ROPS that is included with this staff report covers the period of July 1 — December 31, 2012, reflecting the first six months of Fiscal Year 2012-2013. The administrative portion of this ROPS is based on the Successor Agency's administrative budget for FY 12-13 that was approved at the March 20th Council meeting. It reflects the $250,000 administrative cap that is required under AB 1X 26. The ROPS additionally reflects the enforceable obligations that are part of outstanding redevelopment bonds, including principal and interest payments, annual audit, annual continuing obligation reports, and payments for bond trustee services. All of these payments would be required if the redevelopment agency was still in existence. Certain costs that were part of the IROPS are continuing in this ROPS, and other obligations that are expected to be completed by June 30, 2012, have been removed from this ROPS. Pursuant to Health and Safety Code Section 34177(1)(1), the Successor Agency prepares a ROPS for each six month period. If approved, the ROPS will be presented to the Oversight Board, and then to the LA County Auditor-Controller, the State Controller, and the Department of Finance. It will also be posted on the City's website. FISCAL IMPACT There is no impact on the General Fund if the ROPS is approved. The Los Angeles County Auditor-Controller would forward funds based on this ROPS to pay the Successor Agency's continuing obligations for July 1- December 31, 2012. If the ROPS is not approved, the General Fund may be the source to pay for staff costs that are included in the ROPS. Resolution No. 6826 April 3, 2012 Page 2 of 3 RECOMMENDATION Adopt Successor Agency Resolution No. 3 approving and adopting the Recognized Obligations Payment Schedule (ROPS) for July 1 — December 31, 2012 pursuant to Health & Safety Code Section 34177(1)(1). Approved b — �._ Dominic Lazzar , City Manager Attachments: Recognized Obligation Payment Schedule (ROPS) Successor Agency Resolution No. 3 Resolution No. 6826 April 3, 2012 Page 3 of 3 _ C C C W W W W W N W W W W W C ? W 4 C C d .8i- it—a' 41 O E v O O o E E E E E E E E E E E E 7 C 0 W b x x x a, 4, a, 41 41 4, 41 ` 41 a; a) a, 4, 2 co < < y y c c b b c c c c c c c c c 5 x u A - - u r : G d i- - r - r i- - I-a • C C C C x F H H� I- 88388888 O p p CO O O 88 O O N co vvrooioo o N- 0 0 0 0 0 0 ' " " 0 - co O00) 00 OOO 0 co 00 00 000 !On 0 O) g o ai r o v'- 0 00 0 0 vi,N N o of I- CO CO CO .- N 0) 0 0 N N cli 69 69 49 69 6969 69 0 69 69 69 6969 69 69 69 69 69 69 69 69 0o 0 n CCO 109 00O 00 00 00 .�• 1- N6y .- c0 6 N 0 O O n w OO) N 6LP, 600 N co O N 0 CO 0}0 E a) M N .1- . O N M 4.I n N `0 O ti r.., a 69 O .n- 00 '0 co 0 0 0 a of . co h N 0 0 E co CO.CCD v) CO 00 00 v CO 7. - -' . — -' N 71- 2 N N L N. N. O 0 0 0 M C .- cO cn CO 0 0 >. (N0 CD 0 CO 0 N O 0 r' to N co- 6) E 69 o co n CO 0 0 0 0 0 0 0 0 rn .- m 000 o CO o 00 d 0i 60ci00 o n g 00 ui o E 0) CC0 600 )n 00 00 00 CO CC)) u0) O (C)) E N 'I COI vim) N. 4) N O h 69 N N. 0 0 0 0 0 0 E CO tp N 0 CO 0 0 0 A- U c6) CO 0 N 0 C9 0 0N) VI O O c0 !O 0 0 P) O N a r- 6h N � �� IJJ J N .2~ M 69 �-d G N. N. 0 0 0 0 C9 t •u W co uo o co 0 o .,y� d T h CO 0 co C') 0 CC) V 0. CO CO Y) O C') 0 N t: Cn r '- < M el CCo 0.0 69 C W 0 0O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 CO C 60 t 06 2 A • 0 0 0 0 0 0 0 0 00 0 0 0 0 0 0 0 0 0 0 co.: > >,E '- N .0 sr V' V' O CO O O O N O O 0 O 0 O 0 O O O CO 2 R 7 N NN .- 00000 0 CO 0 0 00 0 0 ad E�' Q 1 3 d .- C COO 00 0 O 0 00 N 0 0) a d d N} O c+1 N O co N O M O 0 O Vi O A S C G g Z o O l CO 0 N N U)) 0) v) 0 cn v) 6- co C O T&i 0) a� _F-,i LL ° G s)„i o P. y (p Q� N F 61 O „,OLD Q � CO N�7N N )C 0 CO 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 CO �9�> Nm J CO C 0 0 )n 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o)�3�..a m Q 'to' 40 CO V O co 0 0 0 O 0 0 0 0 0 0 0 0 0 0 60 1111 • a 0 an 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6O 0 W 4g„ 0) ncO 0o O N 0 0 00 N O o 0 0 0 co• a L N O g.'O a)N O n Oi W O CO tl0 .r- N .- O O M .- r N c0+) N N V0'oiF te ) v 0 ~0 699 tgs a" O 01/..it 2 co ���s mm v g � g4 g�2 0. o a� c 8 = a co E d 'u c O)�t1C E -0 E N E U C g 3 N g) iMCNN c > ; °T' =y § Z .8 2 8 Uo c a Q c co rya &�2m�< B o o U H ,-waQ a .I co 2 b' tag c d wc�vN�cy,C t 6 �° h �a C' m N3c N 'cLL .S wc'°om�a p C N gyp 4 C OQ .13 N O p 8 Q p O 0 O oE2 N C7 a -0 c O r o a >) an E o c R = 2 O �. = > r) C W a N N N .2 S.N�EO V = C w U a m H � Q 2 O L 'O = 1 > Ti A C y N 7 a,R W 7 a O 8 y E c = N 2 i o aLL O`yN 422 ' L° y - c a c a a° C> > E�ci) c`o EgEES Z.§C7) aam _ 6e 60 lc &d O m y 7 0_> O O '.Q L C p, W G C N 12)°I >ore h 0,P¢ ae c o m m y >. &) E E $ E Ez 6 o N- C yy C C (0 C C (j • Q > C C q 2 .2 E. 0 •E N ' 4 E 'Ha $ Et n a r c c �a 'd Can 03030- < I-0 a z uaCOi vIi <N C in E ins yg:v'0> W0 cd'c a Q g _.d E. t o J 49tH -2 .2 a C 2i1 sg ea C V � 'O C ai I� Od Q a a a v° C 12 x _g a ri nic�a � 4,'-'g Q O O O t •=C O O O 0 Y Y W\ O Y , C E '2 r. t tN , .'8 ao000 < 0C ii: 0 (00 U 0 00 0 0 U 00 < AS2>" C0_225 aci o H 8 E 4 �i y$$cc 43 co '� �j 4 = c E .4 4) C13 CL E c O1 co c o o cots E 81 a=i E. 4Ei m 10 0Dori 0 :-,-.7i- moE yv, rnao cp > m a ECO o—e L > LL. on �3Ry E .0 O c W>,0 L , «_-_. O CO O. N C ci, > 2 a c 4) j g v 849 > ^ O C'O O O c c > E hfl E c rnH Np ,S E Q Q � E Q Z aai Q °) E m U .0.6)4,'- ' O Htig S.2 2tg° c! = 6A a) y :a CO ygO Uy gan00 co ~ = C F- R d J C >.0 ;p 'lS V > V d y N N N o Q Ooc Ec w2Sc n n R IE n E T� ,'ori Co za a C1 04 COOJ ¢ m00CCMCL L C) SE)cx li � c�;028 H aou. ; I-- .- N M V' N co r a! O) O N c ( -0 O) RESOLUTION NO. SA-3 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, AS THE SUCCESSOR AGENCY TO THE ARCADIA REDEVELOPMENT AGENCY, APPROVING AND ADOPTING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177(1)(1) WHEREAS, pursuant to Health and Safety Code section 34173(d), on January 3, 2012, the City of Arcadia ("Successor Agency") elected to become the successor agency to the Arcadia Redevelopment Agency; and WHEREAS, Health and Safety Code section 34177(1)(1), as modified by the Supreme Court decision in California Redevelopment Association, et al. v. Ana Matosantos, et al., Case No. S194861, requires the Successor Agency to prepare a recognized obligation payment schedule ("ROPS") for each six month period; and WHEREAS, Health and Safety Code section 34177(1)(1) requires the Successor Agency to submit the ROPS to the Oversight Board for approval; and WHEREAS, Health and Safety Code section 34177(1)(1) requires that upon approval of the ROPS by the Oversight Board, the Successor Agency is required to submit a copy of the approved ROPS ("Approved ROPS") to the Los Angeles County Auditor-Controller, the California State Controller, and the State of California Department of Finance, and post the Approved ROPS on the Successor Agency's website; and WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred. 1 NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, AS THE SUCCESSOR AGENCY TO THE ARCADIA REDEVELOPMENT AGENCY, DOES HEREBY FIND, DETERMINE AND RESOLVE AS FOLLOWS: SECTION 1. The Recitals set forth above are true and correct and are incorporated into this Resolution by this reference. SECTION 2. The approval of the ROPS through this Resolution does not commit the Successor Agency 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. City staff is authorized and directed to prepare a Notice of Exemption within five (5) days following the date of adoption of this Resolution. SECTION 3. The Successor Agency hereby approves and adopts the ROPS, in substantially the form attached to this Resolution as Exhibit A, as required by Health and Safety Code Section 34177. SECTION 4. The City Manager is hereby authorized and directed to take any action necessary to carry out the purposes of this Resolution and comply with applicable law regarding the ROPS, including submission of the ROPS to the Successor Agency's oversight board, upon the oversight board's formation, and the submission of the Approved ROPS to the Los Angeles County Auditor-Controller, the California State Controller, and the State of California Department of Finance, and posting the Approved ROPS on the Successor Agency's website. 2 SECTION 5. If any provision of this Resolution or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this Resolution which can be given effect without the invalid provision or application, and to this end the provisions of this Resolution are severable. The City Council hereby declares that it would have adopted this Resolution irrespective of the invalidity of any particular portion thereof. SECTION 6. This Resolution shall take effect immediately. SECTION 7. The Mayor is hereby authorized and directed to sign the Resolution and the City Clerk shall certify to the adoption of this Resolution. Passed, approved and adopted this 3rd day of April, 2012. Mayor of the City of Arcadia ATTEST: City Clerk APPROVED AS TO FORM: c4iivz„, r. Stephen P. Deitsch City Attorney 3 EXHIBIT "A" THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE [Attached behind this page] C C C C LL w .z 0 C C ,0 C C C c C C C C C C C cc C C C C TA • o E E 0 0 00 E E Cu E 0 E E E E E .04. 0. 2 E. = =��� tt 4 0 b bbb b bbb 0 p y y c C c c C c c c cc C C c E, • '� E E E . A 'g I- - - , 'g - - - 'g - E am r * w d HH H r )- Hrh HH HH )- d La' u 14,' u c C c C g g g - 8 3 O O $ 0 0 O O O O 0 0 O O Co ✓ vr- or) oo 0 r: o o 00 0 0 ' ' ' ' ' 0 N N O O 0) O O 0 CD 0 0 0 0 0 0 CO 07 0 0 0 0 0 p 0 0 0 0 N 0 O) (OO 0) CO O N 00) C7 N 0 N N O Oi H vn v O , 6969 69 69 69 6969 69 /9 10 69 6969 69 69 69 10 196969 69 ■ 00 X00 •- CO 7°n °l0 00 00 00 VI a Obi N (00.(n O (On N 0 CO.0 E O co < . (O O X Nu r` N C) o g _ ti u m d 69 0 r ((DD (On co 0 0 0 d E 0) h O `n CO 0 0 y CO CO.h 0 0 2> N N (N 0 C ,- co N. N ro 0 0 ,_ C p CO CID.0 O N N O Si .- Si S- (13 N 0 E 68 N a 00) r (IO• (On 0 O 0 CO O• 0 0 0 00) in COOOOO 0 CD o0 C) E N (O (O (nOO 0 N v°7O C) E coYr O ? •- 0 rte) (N '- O a N r OW f•69 a . N 0 0 0 0 0 0 c- (O h 0 CO 0 0 0 O N 0 aD 0 r) 0 U) a w C (NO (00 (n 0 - 0 r0) 0 N y` or Q ! VO) N rte) C_ �'b J N F CO Q r n 0 O 0 0 C') •0 LY . (O (n O Co 0 0 I ..I1 (0 0 (n0 M 0 •Jig N W.CO.(n 0 Cl 0 N lg M 0 M w 0 $) • �E Z 69 c cW ^ oa000000 0 0 0 0 00 0 0 0 000 co c0 i A c 0 CO 0 0 0 0 o 0 aD 0 0 0 0 0 0 0 0 0 0 N > ),E n C vv 4 0ro00 0 (: 0 0 00 0 0 0 000 m 2 E., 7 CO N N O aD0 0 0 Co 0 0 00 0 0 Q X C) N •.- CO CO 0 .- 0 O 0 '0 0 0 0 0 (n 0 07 d } O M 7n O aD N 0 C') 0 0 0(1) N O '0 A 0 y L Z C Q vn n N 0) N 0 m . N n `p OOL 0 y r r ,r H(+1 � (D � o)C O ao O O O O O O O O O O O O O O O O O co Ey E talon N J co 0000000 O 0 0 O 00 O O O O O O in O)� ama aoaovo (oOo 0 0 0 0 00 0 0 0 000 m 0, 0 (n 0 Co 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Co O 2.. C C Q 427 }1g/7 rnno? o 00 o n o 0 0o n o 0 000 m _d�o+' 1°- Q a t'j O N (°n r N tD(V M r Oi 00 1') N N N O O O O G O.0 r- W O ao (O . , O co .- (h N N v N 6Y 9 O Z 0 0 'o'YO E—: O HO 69 a 02 Oa$t W 0 "I .0* r GC ;3 E) 8 N Na 0 apo3LES �i ,�, 2 - g ` Eo 8 -Su- A.3 Ic r c o c o oe E c o Y! (� �' (cD '2 ° § .5 10 o c g7 1 O C O) N C < C m C N � U) CLL .y cW• 1Y3{ a C c N U a,(o5q y a t cp 0. ai 'G C N > (o CyEN'•'•o :p7, 7 0 O :a N C c m - Q. 0 a LL g 7. N o i.H 11 v c 3 a m° i © Eri y ooE2 . ° L° > o p m 42 8 a § > wN 'Ion a l-6 �i 8i a > >� m w r m Q m E.5 ar otm10>>70 a.N . .° � °a o) fn (° rn � E aEi (� $ .7)1e2.2.5 ,,++cc t c c p E c i E °_)o 242 T=1 ,211 - -> ( H c �m(T 0om2'-o2 Cu o m0 CC 0E) 2, cg ..a= C 2 mma �<HCg a Z a)u) CO aH < in 6n . � a �V.> M Cr a 2 c - c $iE �m .+ igtilE 6t t m o a i > >1'26 .CO'; m m V m N .y§ J m m (o m E E 9 act a 22 -„ag2� g 8 g g m c 1 g g E `gU ���'c•c o `o E o•a o m a y a a _a' a a a a a m r—r�/°c•E E.g. C C w : O C R O N p O O E c O 0 0b ^yt m qN d mm .4. mm . . roh z, of 0 • ' g 6u ,> .-U mao0a0004. U (n0 U U 00 0 0 0 0042 1�$_m(>nm E E _, Cm' H 2m$$G L '4 O Z CC C N CO c o c v 33(A E g) w a 4 m yo 8 P m o E m ca c > ° a E 0 > u_ U1 y ci ou -E m a V o . •i'z ._ri m a a �U O 2 0 o ° c Q C E cc E w s E m Q _ L ��:1171 0 MI E a a s a ° m a cc aU a m " c N ' ° Q.S.-o5 o Q h . a c C ° Ec C n° g - d . Mga< 1t 3 'e J g>) 0 m U) (ny Qa ° § m E C c E v �Ca` 6 m ° o ° CL N m 3 N o O z. .0 4),P m Q o ° C C C c aC4 _ ' r4_ kg) za a (v (NO. O2a (7 s u CC FC E) 0.8 I- 1,-o . i I- - N C') Y 01 Co r E/ 0 O N r) Y u) Co n aD 0)