2016-02 RESOLUTION NO. 2016-02
A RESOLUTION OF THE OVERSIGHT BOARD FOR THE
CITY OF GRAND TERRACE AS SUCCESSOR AGENCY TO
THE COMMUNITY REDEVELOPMENT AGENCY
APPROVING AN AMENDED RECOGNIZED OBLIGATION
PAYMENT SCHEDULE (ROPS) COVERING THE PERIOD
JANUARY 1, 2017 TO JUNE 30, 2017 (ROPS 16-17B) 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 for a twelve-month period; 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 approved the ROPS covering the
period January 1, 2017 to June 30, 2017 (ROPS 16-17B), in accordance with HSC Section
34171(o)(1)(E); and
WHEREAS, HSC Section 34177(o)(1)(E) authorizes a successor agency, once per
Recognized Obligation Payment Schedule (ROPS) period, to submit one amendment to the
ROPS if the Oversight board (OB) fords a revision is necessary for the payment of approved
enforceable obligations during the second one-half of the ROPS period; and
WHEREAS, a Successor Agency may only amend the amount requested for payment of
approved enforceable obligations and must submit such amendment to the Department of
Finance no later than October 1", in accordance with HSC Section 34177(o)(1)(E); and
WHEREAS, the Senate Bill (SB107) Section(c)(2)(A) states that bond proceeds derived
from bonds issued on or after 29 January 1, 2011, in excess of the amounts needed to satisfy
approved enforceable obligations, shall be used in a manner consistent with the original bond
O.B. RESOLUTION NO. 2016-02 PAGE 1 OF 6 SEPTEMBER 7,2016
covenants, subject to the following provisions: (A) No more than 5 percent of the proceeds
derived from the bonds may be expended; and
WHEREAS, the 2011 Tax Allocation Bonds — Series A (TABs 2011-A) proceeds total
$14,791,461; of which 5 percent equals $739,573; and
WHEREAS, on May 25, 2012, the Department of Finance provided a Recognized
Obligation Payment Schedule Approval Letter(ROPS Approval Letter) to the Successor Agency
for ROPS 1 &ROPS 2; and
WHEREAS, the use of bond proceeds listed in ROPS 1, Page 2, Items No. 14 and 18
were approved by the Department of Finance, showing that the use of bond proceeds was a prior
approved enforceable obligation on ROPS 1; and
WHEREAS, on August 23, 2016, the City of Grand Terrace as Successor Agency to the
Community Redevelopment Agency reviewed and approved the Amended Recognized
Obligation Payment Schedule for the period January 1, 2017 to June 30, 2017 (ROPS 16-17B);
and
WHEREAS, the Oversight Board for the City of Grand Terrace as Successor Agency to
the Community Redevelopment Agency has met on September 7, 2016 and duly considered an
Amended Recognized Obligation Payment Schedule for the period January 1, 2017 to June 30,
2017 (ROPS 16-17B).
NOW THEREFORE, OVERSIGHT BOARD FOR 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 January 1, 2017 to June 30, 2017 (ROPS 16-17B) are true and correct and, accordingly,
are hereby considered enforceable obligations.
SECTION 3. Pursuant to HSC Section 34177, the amended ROPS for the period January
1, 2017 to June 30, 2017 (ROPS 16-17B), incorporated herein as Attachment A, ("ROPS 16-17")
is hereby approved and adopted in substantially the same form as shown in Attachment A by the
Oversight Board.
SECTION 4. The Executive Director is hereby authorized to make such non-substantive
changes and adjustments to ROPS 16-17B, 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 16-17B to the California Department of Finance, State
Controller's Office, San Bernardino County Auditor-Controller, and any other agency by the
O.B. RESOLUTION NO. 2016-02 PAGE 2 OF 6 SEPTEMBER 7,2016
-= 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.
PASSED APPROVED AND ADOPTED this 7th day of September, 2016 by the following vote:
AYES: Board Members Freeman, Saks,Vice Chair Morga, and Chair McNaboe
NOES: None
ABSENT: Board Members Forbes and Strong
ABSTAIN: None
f
Darc MSC aboe rsight Board Chair
ATTEST:
P t Iac ar ity.Cly
i
O.B. RESOLUTION NO. 2016-02 PAGE 3 OF 6 SEPTEMBER 7,2016
Attachment A
Amended Recognized Obligation Payment Schedule(ROPS)
For the Period January 1., 2017 to June 30,2017 -
(ROPS 16-17B) _
O.B. RESOLUTION NO. 2016-02 PAGE 4 OF 6 SEPTEMBER 7, 2016
" Amended Recognized Obligation Payment Schedule(ROPS 16-17B)-Summary:
Filed for the January:1,'2017 through June 30,2017 Period
Successor Agency: . . Grand Terrace
County::. San Bernardino
RODS 16-17B ROPS 16-17B ROPS 16-17B
Current Period-Requested Funding for Enforceable Obligations(ROPS Detail) Authorised Amounts Requested Adjustments Amended Total
A : Enforceable Obligations:Funded as Follows(B+C+D):_ -_$ - $., 739;573 $. 7391573,:
B Bond Proceeds
i 739,573 739;573 i
C Reserve Balance -
D Other Funds
E Redevelopment Property Tax Trust Fund(RPTTF)(F+G): $•• 922,100 $` - $ 922,100
F RPTTF: ._ 797 100 7971100
G _ Administrative RPTTF 125,000 A25,000
H = =Current Period.Enforceable Obligations(A+E): `$ 922,100 :;739;573 •$- 1,661,673
Certification of Oyersight:Board Chairman: (�CJ01
.Pursuant to Section 34177.(o)of the Health and Safety
code,I hereby certify that the above is.a true and accurate ` Title
-nized Obligation Payment Schedule for the above
I edsuccessor agency.
Sign at a Date
-O.B.RESOLUTION NO. 2016-02 PAGE 5 OF 6 SEPTEMBER 7, 2016
0
{i�T�y1
Uj Grand Terrace Amended Recognized Obligation Payment Schedule(ROPS 16-1711)-ROPS Detail
� - - January 1;2017 through June 30,2017
" � � � (Reoort Amounts in Whale Dollars)
... .... ..... ..... ,..,.;.. .AUTHORIZED AMOUNTS..,..." - ..,.. ...�:..- - =..REQUESTED ADJUSTMENTS, .-. ...... ....
.. .. 'Fund Sources ,. .. .. Fund Sources
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Ramp Prolacl Name7Debl ObUpton OGGgalbn Type Balance
t l- I I - I t as tAe 11 E - _I t I t .Is. 797 100 11: 125 000 i E 922,100 1$ 739 573 1E S� ::I E.- .-:1 5 -1 5 739.573 1 - - A
tfi 112011ATav Allacetlon Bontl IBonds lssuetl Aflerl2/31/101 741353411'� _ - _I .I 3977231 IS' 39]]2JI
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d 51Reoavment of Debt Service IMisceRaneous 1$- 1S1434611 -I I
: $ 234.127: -234:127
, I$ ` ` f'? Poes 16 kes I'E S I 1
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701Professlo IS Ices IProfesl IS kes E 48.75011 -I -IIE -
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1 1312011A TABS 01.S.M.Reurve ;Reserves IE -11 .1 •II'EI5' _ •I-
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I .161SALeaal con.
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e¢7 29I51..upthers CPA
T 301Resttluel ReceiptsIPA.Xaneous ... IS -tl:S 1 S -1 S -I $ - •I S :•I'b
r11 311Employee Cosh IAtlmin Cosh I$ 1.164.510
••321Ern yes Cosis-PERS• - .`. IAtlmin Cosi6 ... IS 349,35311 ...._1 -1.. -I -- -I -.. I.S : :-.I• I ... I - - I .'..I .1.5-.
33 Em to es Cosisather benefit- - IAtlmin Costs I f 232IN 11 -I -I •I -I I a - I 1 I I I .I S.. -
34 EmPloVee Casts-Insurance.wnrkars'eompensetlon IAtlmin Costs 1 E E52� g
'� •'36 Conwlbn9 Services.. .- Admin Costs .. ... S 190.000 .. - ... - ...... - ... ...S •.. •.. .... 1 •.I.. '15 -I...... ...•.-. ..
41 �3710M.CostslSuoalleWis. IAtlmin Cssls IE 2e00011 -1 -I -I -I -IS
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--4012011A'TABS:Boni)ProLms 'llmtlrd4ementMfrastrugwe I'E :II'$ $ I'S -I'8 - -t E -I -I1$'
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.. L' S151DemkPoian of slnMa-7lntlV dwaY na '� '1'1RemeB orlon ':: 1 E"..'.' f5' .:=1 8 ,'.-'". :i S •I $ "•I'E ___ _-I',3 '. ..:.I I _1 I - .1- - 1�$,
1' 471Taxes on Succesur As—ProceM IProoeM Maintenance IEIE'
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