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Home My WebLink AboutSA4 - RESO RECOGNIZED OBLIGATION PAY SCHEDULEREQUEST FOR SUCCESSOR AGENCY ACTION MEETING DATE: JANUARY 21, 2020 TITLE: ADOPT A RESOLUTION APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD OF JULY 1, 2020 THROUGH JUNE 30, 2021 {STRATEGIC PLAN NO. 4, 11 CLERK OF THE COUNCIL USE ONLY: APPROVED ❑ As Recommended ❑ As Amended ❑ Implementing Resolution ❑ Other ,K•�►nl►tn�.ic•� /s/Kristine Ridge FILE NUMBER CITY MANAGER RECOMMENDED ACTION Adopt a resolution approving the Recognized Obligation Payment Schedule for the period of July 1, 2020 through June 30, 2021 pursuant to Part 1.85 of Division 24 of the California Health & Safety Code. DISCUSSION Pursuant to Part 1.85 of Division 24 of the California Health & Safety Code ("Dissolution Act"), the City Council on January 9, 2012, elected for the City of Santa Ana (City) to act as the "Successor Agency" to the dissolved Community Redevelopment Agency ("Agency"). On February 1, 2012, in accordance with the Dissolution Act and the California Supreme Court's decision in California Redevelopment Association v. Matosantos, Case No. S194861, the Agency was dissolved and the City began to serve as the "Successor Agency." The City Council serves as the governing body of the Successor Agency under the Dissolution Act as amended by AB 1484, AB 471, and SB 107, to administer the enforceable obligations of the Agency and otherwise unwind the Agency's affairs. Effective July 1, 2018, the local Oversight Board to the Successor Agency was dissolved and the new Orange Countywide Oversight Board (OCOB) was established. The OCOB now has oversight with respect to the Dissolution process, including review and approval of the Recognized Obligation Payment Schedule (ROPS). The ROPS includes the administrative cost allowance as required under Health and Safety Code Section 34177 0) through (k), and is presented in the format designed by the Department of Finance (DOF). Upon Successor Agency approval, the ROPS will be submitted to the Orange Countywide Oversight Board for approval at its January 28, 2020 meeting. Upon OCOB approval, the ROPS will be submitted to the DOF, County, and other appropriate entities as required by the Dissolution Act by the February 1, 2020 deadline. The ROPS will also posted on the Successor Agency's website (Exhibit 1). SA4-1 ROPS 20-21 January 21, 2020 Page 2 STRATEGIC PLAN ALIGNMENT Approval of this item supports the City's efforts to meet Goal #4 - City Financial Stability, Objective #1 (maintain a stable, efficient and transparent financial environment). FISCAL IMPACT The Successor Agency is limited to making only payments listed on the approved ROPS for each annual period. Administrative expenses are capped at three percent of the actual property tax distributed for the ROPS in the preceding fiscal year or the minimum of $250,000 per year. The Successor Agency is anticipated to be approved for $250,000 in administrative cost allowance for FY 20/21. Funds will be budgeted for FY 20/21 in the Redevelopment Obligation Retirement Funds (account no. 67118021-various, 67018843-various, and 67018850-various) upon approval of the ROPS by DOF. APPROVED AS TO FUNDS AND ACCOUNTS: Steven A. Mendoza Kathryn Downs, CPA Executive Director Executive Director Community Development Agency Finance and Management Services Agency SM/SG Exhibit: 1. Resolution A. Recognized Obligation Payment Schedule 20-21 SA4-2 WAa1=1Mel SUCCESSOR AGENCY RESOLUTION NO. 2020- A RESOLUTION OF THE SUCCESSOR AGENCY TO THE FORMER COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE 20-21 FOR THE PERIOD OF JULY 1, 2020 TO JUNE 30, 2021 PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177 (o), AND PART 1.85 OF DIVISION 24 OF THE CALIFORNIA HEALTH AND SAFETY CODE ("DISSOLUTION ACT") BE IT RESOLVED BY THE MEMBERS OF THE SUCCESSOR AGENCY OF THE CITY OF SANTA ANA, AS FOLLOWS: Section 1. The City Council of Santa Ana, acting as Successor Agency, conclusively finds, determines and declares as follows: A. On January 9, 2012, pursuant to section 34173 of the California Health & Safety Code, the City of Santa Ana ("City') elected to serve as the Successor Agency for the dissolved Community Redevelopment Agency ("Agency') of the City of Santa Ana and selected the Housing Authority of the City of Santa Ana to act as "Successor Housing Agency." B. The City Council serves as the governing body of the Successor Agency under the Dissolution Act, as amended by AB 1484, AB 471, and SB 107, to administer the enforceable obligations of the Agency and otherwise unwind the Agency's affairs. C. SB 107 revised the timeline for the preparation of the required Recognized Obligation Payment Schedule (ROPS) from each six-month period to a one-year period beginning July 1, 2016. D. The annual ROPS includes the administrative cost allowance as required under Health and Safety Code Section 34177 0) through (k). E. The annual ROPS for the July 1, 2020 through June 30, 2021 period must be approved by the Countywide Oversight Board and submitted to the County Auditor - Controller, State Controller's Office, and to the State Department of Finance (DOF) no later than February 1, 2020. Section 2. The Successor Agency approves the Recognized Obligation Payment Schedule 20-21, attached hereto as Exhibit A and incorporated herein by this reference, and authorizes the submission to the County of Orange and Countywide Oversight Board for review and approval. Section 3. Pursuant to the Dissolution Act, the Successor Agency further authorizes the transmittal of the ROPS 20-21, upon subsequent Countywide Oversight Board approval, to DOF Resolution No. 2020- SA4-3 Page 1 d 3 EXHIBIT 1 with copies to the County Administrative Officer, the County Auditor -Controller, and the State Controller's Office. Section 4. The City Manager, or his/her designee ("City Manager"), is directed to post on the City's website the ROPS 20-21 in the manner required by law. Section 5. The City Manager and/or the Executive Director of Community Development, or their respective designees, as delegated officials of the City acting as Successor Agency, are authorized to make or accept any augmentation, modification, additions, or revisions to the ROPS as may be necessary and appropriate in their reasonable discretion, based on review or communications from the Countywide Oversight Board, the State Department of Finance or County of Orange. Section 6. This Resolution shall take effect immediately upon its adoption by the Successor Agency, and the Clerk of the Council shall attest to and certify the vote adopting of this Resolution. ADOPTED this day of 2020. APPROVED AS TO FORM: Sonia fj. C valoo, City Attorney Attorney AYES: Councilmembers: NOES: Councilmembers: ABSTAIN: Councilmembers: NOT PRESENT: Councilmembers: Miguel A. Pulido Mayor Resolution No. 2020- Page 2 of 3 SA4-4 WAa1=1Mel CERTIFICATION OF ATTESTATION AND ORIGINALITY I, DAISY GOMEZ, Clerk of the Council do hereby attest to and certify the attached Resolution No. 2020-XX to be the original resolution adopted by the City Council acting as the Successor Agency to the former Community Redevelopment Agency on January , 2020. Date: Daisy Gomez Recording Secretary City of Santa Ana Resolution No. 2020- SA4-5 Page 3 d 3 EXHIBIT A Recognized Obligation Payment Schedule (ROPS 20-21) - Summary Filed for the July 1, 2020 through June 30, 2021 Period Successor Agency: Santa Ana County: Orange 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) $ 601,475 $ 62,334 $ 663,809 - 17,487 17,487 601,475 44,847 646,322 $ 1,433,841 $ 1,611,481 $ 3,045,322 1,308,841 1,486,481 2,795,322 125,000 125,000 250,000 $ 2,035,316 $ 1,673,815 $ 3,709,131 Name Title /s/ Signature Date SA4-6 EXHIBITA Santa Ana 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 O R 5 T U V W BOPS M-21 A (Jul -Dec) ROP52041B 1Jan-Jun) Agreement Agreement ROPS Fund Sources Fund Sources Item P mJeRName Obllgatlon Fxecutlon Tertnlnatlon Payee oescllptlOn Project Outstanding Pon red M-21 91-21A 91-21B Bond Reserve aber Ad min Bond Reserve otlter Admin A Type Dan Date Area Obtlga[IOn Taal Told Tad Proceeds Balance vends RPTTF RPTTF Precedes Balance Funds RPTTF RPTTF $99738336 $3709,131 $ $$601475$1308841$125000$2035316 $,$17487344847$1486491$125;000$1,673,815 2 2011 Tax Fees PAOV OD01/2030 Keyser Contlnuing Merged - Y b Allocabon 2011 Marston disclosure Bons Sends A Associates Indenture of / Upon Trust Futures 3 2011 Tax Fees 02/0V OD01/2029 BLX Arbitrage Merged - Y Allocation 2011 rebate Bons Sends A analysis Indenture of Trust 4 2011 Tax Fees 02/0V OD01/2029 Bank of Trustee fees Boomed - Y Allocation 2011 NYMeIIon Bons Sends A Indenture Of Trust 6 2003Tax Fees 0511N O6/30/2033 Keyser Contlnuing Merged - Y Allocation 2003 Marston disclosure Bons Sends A Associates Indenture Of / Upon Trust Futures T 2003Tax Fees 0511N O6/30/2032 BIX Arbitrage Merged - Y Allocation 2003 rebate Bons Sends A analysis Indenture Of Trust B 2003Tax Fees 0511N O6/30/2032 Bank of Trustee fees Boomed - Y Allocation 2003 NYMeIIon Bons Sends A Indenture Of Trust 10 2003Tax Fees 0511N O6/30/2021 Keyser Contlnuing Merged - Y Allocation 2003 Marston disclosure Bons Sends B Associates Indenture Of / Upon Trust Futures 11 2003Tax Fees 0511N O6/30/2020 BIX Arbitrage Merged - Y Allocation 2003 rebate Bons Sends B analysis Indenture Of Trust 12 20031ax Fees 0511N O6/30/2020 Banked Trustee fees Merged Y b $ $ SA4-7 EXHIBITA A B C O E F G H I J K L M N O P O R B T U V w BOPS M-21 A (Jul -Dec) ROP52041B(Jan-Jun) Item Obllgolon Agreement Agreement Project ROPB 91-21A 91-21B Fund Sources Fund Sources A P mJeRName Type Execution oat Tertnlnatlon Date Payee oescllptlon Area Outstanding Omlgadon Retired M-21 Taal 1RAW TaN Bond Reserve Ober Admen Bond Reserve Other Admen Proceeds Balance vends RPTTF RPTTF Proceeds Balance Funds RPTTF RPTTF Allocation 2003 NVMellon Bonds Sends B Indenture of Trust 28 DDA- OPAiDDA/ 122/16/ OISOOS2629 Sycamore Development Merged 1 605 000 N $180000 - - - 90000 - $90000 - - - 90000 - $90000 Sycamore ConstruNon 2002 Parking ofSycamam Parking Concepts Garage(Pkg Concepts Structure) 36 Erickson Lease Business (i OISOOS2632 Erickson Leasehold Merged 1698531 N $22E41 - - - 113236 - $113236 - - - 113235 - $113235 Agreement- Incentive 2006 Prop. Rights on Honda Agreements Core Co AutoMall Property 33 Off site Improvement/ 041ON OISOOS2632 Various Construnon Merged 5 000 000 N b Improvements Infrastructure 2005 ofPuldCIA (Nexus) Owned Improvements Nexus 34 Project Costs for Project 041ON OISOOS2632 Successor Project Merged 123250 N b Hem#33 Management 2005 Agency/ Management Costs Various / Soy ices 35 SA Venture OPArDDA/ 05/1A OISOOS2632 Various Permit Fee Merged 1 600 000 N b Partnership& Construction 1984 Obligation for Other MalnPlace Improvements Agreements 36 Project Cush for P mJect 05/1A OISOOS2632 Successor Project Merged 100000 N b Hem#35 Management 1984 Agency/ Management Costs Various /Services 37 DDA Discovery OPAP)DA/ 04/21/ OISOOS2632 City of Permit Fee Merged 199000 N b Science Center ConstruNon 1997 Santa Ana Obligation for Expansion 56 Agmt for Professional 03/1A OISOOS2632 Keyser Financial Merged 100000 N b Financial Services 2004 Marston Planning/ Consulting Associates Sect /Fiscal Services Consulting 62 Audited Professional 0511N OISOOS2632 MGO/Clty Required Per Merged 214500 N $10500 - - - 10500 - $10500 Financial Services 2003 ofAonto Bond Statements/ Ana/ Return ends Due Diligence Various AB14B4 Realews 63 Employee Urounded 02/61/ OISOOS2632 CalPERS/ Public Merged 803573 N Pension uablllty Liabilities 2012 Successor Employee Agency Defined Benetlt Pension Plan 64 Other UnNntletl P261/ OISOOS2632 Successor OPEB Mergetl 191 255 N Postemploymentinabllltles 2➢12 Agency/ Liability for 1 I l 46 EXHIBITA A B C O E F G H I J K L M N O P O B B T U V W BOPS M-21 A (Jul -Dec) BOP52041B(J.-Jun) Item Obligation Agreement Agreement Protect Toni BOPS 91-21A 91-21B Fund Sounds Fund Sources A P mJeRName Type Execution Dan Torrington Date Payee Description Area Outstanding Obligation Close M-21 Taal 1oAW TaN Bond Reserve are Admin Bono Reserve Other AOmin Proceeds Balance Funds RPTTF RPTTF Pmceetls Balance Funds RPTTF RPTTF Benefl6(OPEB) Various successor Agency Staff 65 Actuarial Study Unfunded 02/61/ DC36/2632 Successor ACWabal Merged 25000 N b Liabilities 2012 Agency/ Study for Various Pension Liability & OPEB 66 Successor Admin Costs 02/61/ DC36/2632 Successor Opeal Merged 3 000 000 N $250 000 - - - - 125 000 $125 000 - - - - 125 000 $125 000 Agency Admin. 2012 Agency/ costs Various 119 Employee Unfunded 02/61/ DC36/2632 Successor Section Merged 216717 N b Layoff/ Liabilities 2012 Agency/ 34171 Termination Employees (d)(1)(C)- Pal ent Collect, ObIlgatons Bargaining Agreements for Layoffs / Terminations 129 Housing Entity Housing W/61/ 07g0K2018 Successor Section Merged 600000 N Administrative Entity Admin 2014 Housing 34171 (p)- Cost Allowance Cost Agency/ Housing vanous Entity Adminlstral Cost Allowance 160 2018Tax Bontls Iasked LADY OCOK2631 Bank of Debt served 14487625 N $856,150 - - 601475 - - $601475 - 17487 44&P 192AT - $2W 675 Allocation After122/31/ 2018 New Yob: onbonds to Bonds Sends 16 Mellon refund2003 Bondsand 2011 Bonds 161 2018 Tax Fees LADY DC36/2632 Keyser Continuing 19 500 N $1 500 - - - - - $ - - - 1 500 - $1 500 Allocation 2018 Marston disclosure Bontls Sends Associates Indenture of / urban Trost Futures 162 2018Tax Fees LADY DC36/2632 BIX Arbitrage 22500 N $1 500 - - - 1500 - $1 500 Allocation 2018 rebate Bontls Sends analysis Indenture of Trost 163 2018 Tax Fees LADY DC36/2632 Bank of Trustee fees 25 200 N $2,100 - - - 2100 - $2,100 Allocation 2018 NYMell on Bontls Sends Indenture of Trost iW 2➢18Tax Bondslssued LADY OCOK2629 BankN Debtservlce 69654785 N $2,175810 - - - 1087905 -$108T905 - - - 1087905 -$1087905 Allocation AfterP231/ 2018 New V0k 0 bondsto SA4-9 EXHIBITA A B C O E F G H I J K L M N O P O B B T U V W BOPS M-21 A (Jul -Dec) BOP52O41B(Jan-Jun) Item Obllgolon Agreement Agreement Protect Total BOPS 91-21A 91-21B Fund Sources Fund Sources A P gectName Type Execubon Date Terminal Date Payee Description Area Outstanding Obligation Paired M-21 Taal IBAW TaN Bond Pes abet Admin Bond Peserve 0Per Admin Proceeds Balance Funds PPTTF PPTTF Proceed Balance Funds PPTTF PPTTF Bonds SeresB 16 Melon refund2003 Bondsand 2011 Bonds 165 2018Tax Fees 11/68/ 66/36/2629 Keyser Corunning 16500 N $1500 - - - - - $ - - - 1500 - $1500 Allocation 2018 Marston disclosure Bonds Series B Associates Indenture of / Upon Trost Futures 166 2018Tax Fees 11/68/ 66/36/2629 BLX Arbitrage 1650o N $1500 - - - 1500 - $15➢0 Allocation 2018 rebate Bonds Series B analysis Indenture of ITT at 167 2018Tax Fees 11/68/ 66/36/2629 Bank of Trustee fees iB 9oo N $2,100 - - - 2Q oo - $2166 Allocation 2018 NYMelon Bonds Series B Indenture of Trost SA4-10 EXHIBITA Santa Ana Recognized Obligation Payment Schedule (ROPS 20-21) - Report of Cash Balances July 1, 2017 through June 30, 2018 (Repo tAmounts in VMole Dollars) Pursuant to Health and Safety Code section 341 ]] (I), Redevelopment Property Tax Trost Fund (RPTTF) maybe listed as a source of payment on the ROPS, but only to the extent no other funding source Is available or when payment from property tax revenues Is required by an enforceable obligation. A B C D E F G H ROPS 17-18 Cash Balances Fund Sources Comments (07101117-06=118) Bond Proceeds Reserve Balance Other Funds RPTTF Bond, sued Bond, hued Prior ROPS Rent, grants, Non Admin 0 or before 0rafter RPTTF and Interest etc and Admin 12/31/10 01/01 /11 Reserve Balances retained for future period(s) 1 Beginning Available Cash Balance (Actual O7101117) 4425 12 521 215 1,110898 740, 898 - RPTTF amount should exclude "A" period distribu0on amount 2 Revenu Jlncom e(Actual 06130118) 127 5],183 - 415,259 9,056,062 F2 includes$ 155, 000 received from sale of RPTTF amount should tie to the ROPS 1 ]-18 total property on [RPM P distribution from the County AuditorController 3 Expenditures for ROPS 17-18 Enforceable Obligations - - 843,411 509, 835 8,826,594 F3 includes$ 155, ggg payment to CAC for (Actual 06lJ0118) sale of property 4 Retention of Available Cash Balance (Actual 06130118) 4, 552 12, 578,398 250000 - -Cal &D4 amounts used for refunding of bonds RPTTF amount retained should only include the amounts during ROPS 18/19 period E4 amount of distributed as reserve forfuture period(s) $250,000 Is for ROPS #70 (Habitat) payments In ROPS 18/19 period 5 ROPS 17-18 RPTTF Prior Period Adjustment 229468 RPTTF amount should tie to the Agencys ROPS 17-18PPA No entry required form submitted to the CAC 6 Ending Actual Available Cash Balance(O6lJ0118) $- $- $17,487 $646,322 $1 CtoF=(1+2-3-4),G=(1+2-3-4-5) SA4-11 EXHIBIT A EXHIBIT A ........................................................................................................................................................................................................................................................................................................................................................................ 166 ............................................................................................................................................................................................................................................................................................................................................................................................... 167 SA4-13