2012-12 RESOLUTION NO. OB 2012-12
A RESOLUTION OF THE OVERSIGHT BOARD OF SUCCESSOR
AGENCY THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF GRAND TERRACE ADOPTING AN ADMINISTRATIVE
BUDGET THE PERIOD JANUARY 1, 2012 THROUGH JUNE 30, 2012
WHEREAS, the Oversight Board for Successor Agency to Grand Terrace
Community Redevelopment Agency ("Oversight Board" as applicable) has met and duly
considered administrative expenses on the Recognized Obligation Payment Schedule
ROPS for the period January 1, 2012, through June 30, 2012, in the form submitted by
the Successor Agency; and
WHEREAS, staff of the Successor Agency has received responses in regards to
the administrative expenses as listed on the Recognized Obligation Payment Schedule
ROPS for the period January 1, 2012, through June 30, 2012; and
WHEREAS, Oversight Board Successor Agency has received responses in
regards to the administrative expenses as listed on the Recognized Obligation Payment
Schedule ROPS for the period January 1, 2012, through June 30, 2012; and
WHEREAS, the Oversight Board for Successor Agency to Grand Terrace
Community Redevelopment Agency ("Oversight Board" as applicable) has met and has
duly considered revised administrative expenses for an administrative budget for the
period January 1, 2012 through June 30, 2012; and
NOW THEREFORE, BE IT RESOLVED by the Oversight Board, as follows:
SECTION 1. The Oversight Board finds and determines that the foregoing
recitals are true and correct.
SECTION 2. The Oversight Board approves administrative budget for the period
January 1, 2012 through June 30, 2012 (attached hereto as Attachment "I").
SECTION 3. The Successor Agency is hereby directed to carry out all other acts
necessary and required by the Health & Safety Code and any other relevant law.
PASSED, APPROVED, AND ADOPTED at a regular meeting of the Oversight Board of
Successor Agency to Community Redevelopment Agency of the City of Grand Terrace,
held on this the 6th day of June 2012, by the following vote:
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AYES: Board Members Saks, Sidoti, Mitchell and Miranda; Vice-Chairman
Powers and-Chairman Stanckiewitz
NOES: None
ABSENT: Board Member Vizcaino
ABSTAIN: None
Chair, Oversight Board of Successor
Agency to the Community Redevelopment
Agency of the City of Grand Terrace
Secretary, versight Boat
� R
ATTACHMENT "1"
Administrative Budget
For the Period January 1, 2012 to July 31, 2012
Name of Redevelopment Agency: (City of Grand Terrace as Sucessor Agency to.Grand Terrace Community Redevelopment Agency
ProjectArea(s) IGrand Terrace Project Area
Administrative Budget
Per AB 26-Section 34177
Total I"
Outstanding Payments by month'
Debt or D
Jan Feb Mar Apr May
Jun
Dur
Project Name/Debt Obligation Payee Description Obliaation Total DebtYearing 2012 I -20 2 I 012 I 2 12 I 2012 I 2012 I Total I Funding Source"
I I I I I I I I I
1.0(Employee Costs' (City of Grand Terrace (Agency direct employee costs I 8,725,740 1 379,3801 31,6171 .31,617 1 31,617.1 31,617 1. 31,6171 31,6171 189,7021 RPTTA/ACA/RB
2.0(Employee Costs 1City of Grand Terrace (Agency direct employee costs-PERS 1 2,500,0001 62.6201 5,2181 5,2181 5,218 1 5,2181 5,2181 5,2181 31,3081 RPTTA/ACA/RB
3.0 10ffice Rent/Cost Allocation 1City of Grand Terrace 10ffice space and operations 1 5,796,0001 252,0001 21.0001 21,0001 21,0001 21,0001 21.0001 21,0001 126,0001 RPTTA/ACA/RB
4.0 ICost Allocation-Adin O/H ICity of Grand Terrace .I &A Administration indirect'overhead 1 765,7851 33,2951 2.775 1 2,775 1 2,7751 2.775 1 2,7751 2,775'1 16,6501 RPTTA/ACA/RB
5.0 1Cost Allocation-Adm O/H 1city of Grand Terrace I &A Administration indirect O/H Insurarl 690,0001 30,000 1 2,5001 2,5001 2,5001 2,5001 2,5001 2,5001 15.0001 RPTTA/ACA/RB
I I I I I I I I I I I
I I I I I I I I I I I I
I I I I I I I I I I I I
I I I I I I I I I I I I
I I I I I I I I I I I I
I I I I I I I I I I I I
I I I I I I I I I I I I
I I I I I I I I I I I I
I I I I I I I I I I
I I I I I I I I I I I I
I I I I I I I I I I I
I I I I I I I I I I I I
I I I I I I I I I I I I
I I I I I I I I I I
I I I I I I I I I I I I
I I I I I I I I • I I I "
I I I I I I I I I I I
I I I I I I I I I I I I
I I I I I I I I I I I
I I I I I I I I I I I
I I I I I I I I I I I I
I I I I I I I I I I I$ I
Totals-This Page $ 16,477,5251$ 757.2951$ 63,1101$ 63,1101$ 63.1101$ 63,1101$ 63,1101$ 63,1101$ 376,6601-
Totals-Page 2 1 1 1 1 . I I I I I I I I 1�
Totals-Page 3 $ - Is - Is - Is - Is - Is - Is - Is - Is - 1�
Totals-Page 4 $ Is Is Is Is Is Is Is Is 1�
Totals-Other Obligations $ Is Is Is Is Is Is I$ Is [-
Grand total-All Pages, $ 18,477,5251$ 757,2951$ 63,110I1$ 63,110II$ 63,11011$ 63.11011$ 63.1101$ 63,11011$ 37B,660 I-
*Payment amount is extimated,if exact Payment amount is not known.
••LMIHF-Low and Moderate Income Housing Fund;BP-Bond Proceeds;RB-Reserve Balances;ACA-Administrative Cost Allowance;RPTTA-Redevelopment Property Tax Trust Fund;0-Other
Any such notice sent by registered or certified mail, return receipt requested, shall be deemed to have
been duly given and received seventy-two (72) hours after the same is so addressed and mailed in Los Angeles,
Orange, San Bernardino or Riverside Counties with postage prepaid. Notices delivered by overnight service
shall be deemed to riave been given twenty-four (24) hours alLer deiivery ui ii1G SWUr-, L.ildltD Cb t,1Gt,aiu, LV u1G
U.S. Postal Service or private courier. Any notice or other document sent by any other manner shall be
effective only upon actual receipt thereof. Any party may change its address for purposes of this Section by
giving notice to the other party and to Escrow Holder as herein provided.
5.4 Successors and Assisans. This Agreement shall be binding upon and shall inure to the benefit of
each of the parties hereto and their respective successors and permitted assigns.
5.5 Assignment. This Agreement may not be assigned by either party without the express written
consent of the other party first had and obtained. Except as provided in the preceding sentence, any assignment
of delegation of rights, duties or obligations hereunder made without the prior written consent of the other party
or parties hereto shall be void and of no effect. No such assignment shall be deemed to relieve the assigning
party from any liability or responsibility hereunder.
5.6 Relationship of Parties. The relationship of the parties to this Agreement shall be solely that of
Buyer and Seller, and nothing herein contained shall be construed otherwise.
5.7 Governing Law. This Agreement shall be governed by,interpreted under, and construed and
enforced in accordance with the internal laws of the State of California.
_ 5.8 Entire Agreement: Amendment. This Agreement contains all of the agreements of the parties
hereto with respect to the matters contained herein and no prior or contemporaneous agreement or
understanding, oral or written,pertaining to any such matters shall be effective for any purpose. No provision
of this Agreement may be modified, waived, amended or added to except if in writing and signed by the party
against which the enforcement of such modification, waiver, amendment or addition is or may be sought.
5.9 Pronouns. All pronouns and any variations thereof shall be deemed to refer to the masculine,
feminine or neuter, singular or plural, as the identity of the parties may require.
5.10 Headin-as. The headings of this Agreement are for purposes of reference only and shall not limit
or define the meaning of the provisions of this Agreement_
5.11 Severability. If any paragraph, section, sentence, clause or phrase contained in this Agreement
shall become illegal, null or void, against public policy, or otherwise unenforceable,for any reason, or shall be
held by any court of competent jurisdiction to be illegal,null or void, against public policy, or otherwise
unenforceable, the remaining paragraphs, sections, sentences, clauses or phrases contained in this Agreement
shall not be affected thereby.
5.12 Waiver. The waiver of any breach of any provision hereunder by Buyer or Seller shall.not be
deemed to be a waiver of any preceding or subsequent breach hereunder. No failure or delay of any party in the
exercise of any right given hereunder shall constitute a waiver thereof nor shall any partial exercise of any right
preclude further exercise thereof.
5.13 Further Assurances. Seller and Buyer each agree to do such further acts and things and to
execute and deliver such additional agreements and instruments as the other may reasonably require to
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consummate, evidence or confirm the sale or any other agreement contained herein in the manner contemplated
hereby.
5.14 Counterparts. This Agreement may be executed in any number of counterparts, each of which
shall be an original but all of which shall constitute one and the same instrument.
5.15 Time of Essence. Time is of the essence in this Agreement as to all dates and time periods set
forth herein.
5.16 Eminent Domain Proceedings. Seller shall promptly notify Buyer of any condemnation
proceeding commenced prior to the Close of Escrow. If any such proceeding relates to or may result in the loss
of any material portion of the Property, Seller or Buyer may, at its option, elect either to (i) terminate this
Agreement, in which event all funds deposited into Escrow by Buyer or released to Seller shall be returned to
Buyer, all instruments shall be returned to the respective parties who deposited the same, and neither party shall
have any further rights or obligations hereunder except as provided'in Section 4.15, or(ii) continue the
Agreement in effect, in which event upon the Close of Escrow, Buyer shall be entitled to any compensation,
awards, or other payments or relief resulting from such casualty or condemnation proceeding.
5.17 Recitals. The provisions of the recitals of this Agreement shall constitute operative and
enforceable provisions of this Agreement.
IN WITNESS WHEREOF,this Agreement has been executed by the parties on the dates set forth under
their respective signatures below, notwithstanding that this Agreement is dated for convenience and reference as
of the date and year first written above.
SELLER: BUYER:
CITY OF GRAND TERRACE, acting as the O'Reilly Automotivp Stores Inc.
Successor Agency to the Community
Redevelopment Agency
By �x c(1
By:
Mayor
Dated: April 25, 2012 Dated: April , 2012
Approved as to Form:
- Richard L. Adams
City/Successor Agency Attomey
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EXHIBIT "A"
LEGAL DESCRIPTION
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;fact No. 15149, M.B. 247l1-2 23/ Assessor's Map
Parcel l.eP No. 660, P.M. 6/54 Ptn. S.E. 1/4, Sea. 32 Book 0275 Page 24
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