2017-03 RESOLUTION NO. 2017-03
A RESOLUTION OF THE OVERSIGHT BOARD FOR
THE SUCCESSOR AGENCY TO COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF
GRAND TERRACE APPROVING A RECOGNIZED
OBLIGATION PAYMENT SCHEDULE COVERING
THE PERIOD JULY 1, 2017 TO DECEMBER 31, 2018
(ROPS 17-18) AS REQUIRED BY HEALTH AND
SAFETY CODE SECTION 34177
WHEREAS, the Grand Terrace Community Redevelopment Agency, Grand
Terrace, California ("Agency") was formed for the purpose of revitalizing areas
within the City of Grand Terrace pursuant to Health and Safety Code (HSC)
Section 33000, et. Seq.; and
WHEREAS, AB xl 26 required the dissolution of all redevelopment
agencies in the state; and
WHEREAS, on January 10, 2012, the City adopted Resolution 2012-01
electing to serve as the Successor Agency to the Grand Terrace Community
Redevelopment Agency ("Successor Agency") pursuant to HSC Section 34176;
and
WHEREAS, a Recognized Obligation Payment Schedule (ROPS) is defined
in HSC Section 34171(h) as the minimum payment amounts and the due dates of
payments required by enforceable obligations; and
WHEREAS, the ROPS identifies the payment source of enforceable
obligations as payable from the Redevelopment Property Tax Trust Fund (RPTTF)
and payable from Other Sources of the Successor Agency; and
WHEREAS, the California Department of Finance has required a submittal
of the ROPS covering the period July 1, 2017 to June 30, 2018 (ROPS 17-18), in
accordance with AB 1484; and
WHEREAS, on January 10, 2017, the Recognized Obligation Payment
Schedule for the period July 1, 2017 to June 30, 2018 (ROPS 17-18) was reviewed
and approved by Successor Agency; and
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O.B. RESOLUTION NO. 2017-03 PAGE 1 OF 8 JANUARY 18,2017
WHEREAS, the Oversight Board for the Successor Agency to the
Community Redevelopment Agency of the- City of Grand Terrace ("Oversight
Board") has met and duly considered a Recognized Obligation Payment Schedule
for the period July 1, 2017 to June 30, 2018 (ROPS 17-18).
NOW THEREFORE, THE CITY OF GRAND TERRACE AS
SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT
AGENCY DOES RESOLVE, DETERMINE, FIND AND ORDER AS
FOLLOWS:
SECTION 1. The Oversight Board finds that the above recitations are true
and correct and,accordingly, are incorporated as a material part of this Resolution.
SECTION 2. The Oversight Board finds that all.obligations listed on the
ROPS for the period July 1, 2017 to June 30, 2018 (ROPS 17-18) are true and
correct and, accordingly, are hereby considered enforceable obligations.
SECTION 3. Pursuant to HSC Section 34177, the ROPS for the period
July 1, 2016 to June 30, 2017 (ROPS 17-18), incorporated herein as Attachment A,
("ROPS 17-18") is hereby approved and adopted in substantially the same form as
shown in Attachment A by the Successor Agency.
SECTION 4. The Executive Director is hereby authorized to make
such non-substantive changes and adjustments to ROPS 17-18, as attached, which
may be necessary and appropriate.
SECTION 5. The Executive Director is hereby directed to take all
necessary and appropriate acts to submit the ROPS 17-18 to--the California
Department of Finance, State Controller's Office, San Bernardino County Auditor-
Controller, and any other agency by the deadline. The Executive Director is further
authorized to perform all acts necessary and appropriate which may be required by
the California Health & Safety Code. This includes, but is not limited to the
requirements `set forth by the California Department of Finance, the San
Bernardino County Auditor-Controller, or any other applicable agency.
SECTION 6. The City Clerk shall certify to the adoption of this Resolution.
O.B. RESOLUTION NO. 2017-03 PAGE 2 OF 8 JANUARY 18, 2017
PASSED APPROVED AND ADOPTED this 18 thday of January, 2017 by the following vote:
AYES: Board Members Freeman, Forbes, Saks, .Vice Chair Morga, and
Chair McNaboe
NOES: None
ABSENT: Board Member Strong
ABSTAIN: None
Darc�-McNaboe
Oversight Boar air
ATTEST:
Pat Ja - are
Oversigh and, ret y
O.B. RESOLUTION NO. 2017-03 PAGE 3 OF 8 JANUARY 18, 2017
Attachment A
SUCESSOR AGENCY TO THE
COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF GRAND TERRACE
Low and Moderate Income Senior Housing Residual Receipts Security Agreement
O.B. RESOLUTION NO. 2017-03 PAGE 4 OF 8 JANUARY 18, 2017
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¢t Recognized Obligation Payment Schedule(ROPS 17-18)-Summary
P Filed for the July 1,2017 through June 30,2018 Period
Cn
r, Successor Agency: Grand Terrace
-[1 County: San Bernardino
O
z
Z 17-18A Total 17-16B Total
O Current Period Requested Funding for Enforceable Obligations(ROPS Detail) (July-December) '(January-June) ROPS 17-18 Total
0
A Enforceable Obligations Funded as Follows(B+C+D): $ ... ."'289,015 $ $ 289,0.15
o
B Bond Proceeds. 289,015 389,015
C Reserve Balance
D Other Funds
E Redevelopment Property Tax Trust Fund(RPTTF)(F+G): $ 1;350,273 $ ,' 1,286,268 '$" 2,636,541
F RPTTF 1,225,273 1.,161;268 2;386,541
G Administrative RPTTF 125,o0Q 125,000 250,000
H Current Period Enforceable Obligations(A+E): $ :: : 1,639,288 1,286,268 $ : :. 2,926,656
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` Certification of Oversight Board Chairman: Darcv McNaboe Chair
Pursuant to Section 34177(a)of the Health and Safety code,I hereby
-NaTitlecertify that the above is a true and accurate Recognized Obligation
a
Payment Schedule for the above named successor agency, fs, ' j,Gj II
Si 5ture l( Date
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Q. Grand Terrace Recognized Obligation Payment Schedule(BOPS 17.18)-ROPS Detail
July 1,2017 through June 30,2018
' (Repod Amounts in Whole OaBars) - _
O A B I D D I, I F I O I X I I J A I L N I N I D I P I O l R I 9 I T I M V I W
C1 ."27-18A(July-Decemberl .:: . . ".:17-18B Wanuary Junel
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Grand Terrace Recognized Obligation Payment Schedule(ROPS 17-18)-Report of Cash Balances
(Report Amounts in Whole Dollars)
M Pursuant to Health and Safetv Code section 34177(1).Redevelopment Prooertv Tax Trust Fund(RPTTF)may be listed as a source of oavment on the ROPS,but only to the extent no other fundine source is available
or when oavment from orooertv tax revenues is reouired by an enforceable oblieation. For tins on how to complete the Report of Cash Balances Form.see Cash Balance Tics Sheet.
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A I B I C I D I E I F I G I H I
z
O I Fund Sources
CDI Bond Proceeds. I' ,,Reserve Balance Other., I RPTTF .'
Prior ROPS Prior ROPS
o period balances RPTTF
Uj Bonds issued on and DDR RPTTF distributed as Rent, Non-Admin
or before Bonds issued on balances reserve for future grants, and
Cash Balance Information by ROPS Period 12/31/10 or after 01/01/11 retained period(s) interest,etc. Admin Comments
ROPS 15-16B Actuats(01/0111 6-06130/1 6)
1 Beginning Available Cash Balance(Actual 01101116)
19.639,913 15,032 91,974
2 Revenue/Income(Actual 06/30116)
RPTTF amounts should tie to the ROPS 15-16B distribution from the
d County Auditor-Controller during January 2016
a •
O 35,184 975,280
3 Expenditures for ROPS 15-16B Enforceable Obligations(Actual
O 06130/16)
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0.
953,966.
4 Retention of Available Cash Balance(Actual 06/30116)
RPTTF amount retained should only include the amounts distributed as
reserve for future period(s)
5 ROPS 15-16B RPTTF Balances Remaining
No entry,required
6 Ending Actual Available.Cash.Balance .,.. „
Cto.G=(1+2-3-4),H=(1+2-3_-4-5)
Y $"C' $:' 19,639,913"$ $ $ 50;216'. $ 113;288
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0 Grand Terrace Recognized Obligation Payment Schedule(ROPS 17-18)-Notes July 1,2017 through June 30,2018
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t-. Item# Notes/Comments
4 Slightly higher than prior requests due to increase in LAIF rate.
ZDOF approved property sales on the LRPMP—appraisals will be required for the sales,as well as to determine a value for the ATE's for properties requiring a
z 8 (compensation agreement.
p 18 Use of the DOF approved bond proceeds amount of$289,015 as approved by the Department of Finance in their letter dated November 18,2016.
N 16,31,32. -
33,34,and
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37 These multiple line items for administrative costs are being retired and consolidated onto one new line,Item No.43.
Agreement between the Agency and City compensating the City of Grand Terrace for its performance under related Regulatory
Agreement and Ground Lease for Low and Moderate Senior Housing. Obligation is for$300,000 maximum per year actual amounts will depend upon total annual
30 receipts.
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