2012-07 RESOLUTION NO. OB 2012-07
A RESOLUTION OF THE OVERSIGHT BOARD OF
SUCCESSOR AGENCY THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF GRAND
TERRACE ADOPTING A RECOGNIZED OBLIGATION
PAYMENT SCHEDULE
WHEREAS, the Oversight Board for Successor Agency to Grand Terrace
Community Redevelopment Agency ("Oversight Board" as applicable) has met and has
duly considered a draft recognized obligation payment schedule for the period January
1, 2012 through June 30, 2012 in the form submitted by the Successor Agency (the
"Draft ROPS"); and
WHEREAS, prior to its meeting on.April 4, 2012, the members of the Oversight
Board have been provided with copies of the Draft ROPS and instruments referenced in
the Draft ROPS; and
WHEREAS, the; Oversight Board has reviewed the Draft ROPS and those
instruments referenced in the Draft ROPS; and
WHEREAS, the Oversight Board desires to express and memorialize its approval
-_ of the Draft ROPS as the Recognized Obligation Payment Schedule duly approved by
the Oversight Board, a Recognized Obligation Payment Schedule in the form attached
hereto, which consists of the Draft ROPS with additions or deletions made by and at the
instance of the Oversight Board;
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 as the Recognized Obligation
Payment Schedule for the period January 1, 2012 through June 30, 2012 (the "ROPS")
a Recognized Obligation.Payment Schedule in the form attached hereto, which consists
of the Draft POPS with additions or deletions made by and at the instance of the
Oversight Board.
SECTION 3. The Successor Agency is authorized and directed to submit the
ROPS to the California Department of Finance.
SECTION 4. The Successor Agency shall maintain on file as a public record this
Resolution and the ROPS as approved hereby.
PASSED, APPROVED, AND ADOPTED at a special meeting of the Oversight Board of
Successor.Agency to Community Redevelopment Agency of the City of Grand Terrace,
held on this the 4th day of April 2012 by the following vote:
AYES: Board Members Mitchell, Sidoti, Saks and Miranda; Vice-Chairman Powers and
Chairman Stanckiewitz
NOES: None
ABSENT: None
ABSTAIN: None
C'iairman, Ov"-ersight Board of Successor
Agency to the Community Redevelopment
Agency of the City of Grand Terrace
ATTEST:
A A J ff),��7
Oversight Foard Slecretary
o
f
ATTACHMENT
Recognized Obligations Payment Schedule (ROPS)
For the Period January 1, 2012 to June 30, 2012
Name of Redevelopment Agency: 1CIty of Grand Terrace as Sucessor Agency to Grand Terrace Community Redevelopment Agency Page 1 of 2 Pages
Project Area(s) lGrand Terrace Project Area
04/04/12
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26-Section 34177
Total I
Outstanding Payments by month*
Debtor Total Due During Jan I Feb I Mar I Apr May Jun
I I I I Funding Source"Project Name/Debt Obligation Payee Description Obligation Fiscal Year 2012 2012 2012 20122012 2012 Total
I 1 1 1 1 1 1 1
1)12004 Tax Allocation Bonds IUS Bank IBonds for housing&non-housing projects 3,790,8121 2,002,376 1 1 36,188 1 1 1 1 1,966,188 1 2,002,3761 RPTTA/BP
2)12011A Tax AllocationBond IUS Bank I Bonds for non-housing projects 1 29.163,2121 1,100,4981 1 420,9001 1 1 1 679,5981 1,100,4981 RPTTA
3)12011B Tax AllocationBond IUS Bank I Bonds for non-housing projects 1 9,698.7701 635,1851 1 209,5451 1 1 1 425,6401 635,1851 RPTTA
4)ITrustee Fees IUS Bank ITrustee fees on bonds 1 266,5301 12,115 I I 12,115 I I I 1 1 12.1151 RPTTA
5)IZion Loan (Zion First National Bank (Refinanced refunding of bonds for project 2,421,0521 254,848 1 1 127,4241 1 1 1 127,4241 254,8481 RPTTA
6)ISERAF Transfer IHousing Fund IRepayment of loan for SERAF 1 448,636 1 448,636 1 1 1 1 1 1 448,636 1 448,6361 RPTTA
ARepayment of Debt Service ISB Valley Muni Water (Repay incorrect debt service distrib by SBI 2,295,360 1 232,888 1 232.888 1 1 1 1 1 1 232,8881 RPTTA
8)IAgency Attorney lJones and Mayer (Legal consulting on dissolution I 48,000 1 48,000 1 4,000 1 4.000 1 4,000 1 4,000 1 4,0001 4,000 1 24,0001 RPTTA
9)IStater Brothers OPA (Stater Brothers Markets (Payment on participation agreement I 1,207,50o 1 241,500 1 1 1 1 60,3751 1 181,1251 241,5001 RPTTA
10)ICommercial Exteriors Mking Investments Prop IShopping center rehabilitation 220,429 1 220,429 1 1 1 1 1 1 220,4291 220,4291 RPTTA
1 ANeighborhood Imp.Grant IQualified residents (Exterior improvements/correct violations 1 39,035 l 39,035 1 1 7,807 1 7,807 1 7,807 1 7,8071 7,807 1 39,0351 RPTTA
12)IBaseball Field Improvements lRack Bottom lConstruction of baseball field 1 42,469 I 42,469 1 1 1 42,469 1 1 1 1 42,4691 RPTTA
13)IVista Grande Park Improvements 1Foundation of GT llnstallation of park improvements 1 35,000 1 35,0001 1 1 1 1 20,0001 15,0001 35,0001 RPTTA
14)IMich/Barton/LaPaix ILee and Stires/Webb Ass llnfrastructure improvements I 535,671 1 535,671 1 36,281 1 -1 16,995 1 10,0o0 I 1 1 63,2761 RPTTA
15)IResidual Receipts lCity of Grand Terrace (Affordable housing payment agreement 1 3,000,0001 300,0001 1 1 1 1 1 300.000 1 300.0001 RPTTA
16)IDeveloper MOU lGrand Terr Partners LLC (Terminate development agreement 1 375,0001 375,000 1 1 1 375,0001 1 1 1 375,0001 RPTTA
17)1Employee Costs ICity of Grand Terrace lAgency direct employee costs 1 8,725,7401 379,3801 31,617 1 31.617 1 31,617 1 31,617 1 31,6171 31,6171 189,7021 RPTTA/ACA/RB
18)1Employee Costs (City of Grand Terrace (Agency direct employee costs-PERS 1 2,500,0001 62,620 1 5,218 1 5,218 1 5,218 1 5,218 1 5,218 1 5,218 1 31,308 1,RPTTA/ACA/RB
19)10ffice Rent/Cost Allocation (City of Grand Terrace (Office space and operations 1 5.796,000 1 252,000 1 21,000 1 21,000 1 21,000 1 21,000 1 21,000 1 21,000 1 126,0001 RPTTA/ACA/RB
20)1Cost Allocation-Adm O/H lCity of Grand Terrace lG&A Administration indirect overhead 1 765.785 1 33,295 1 2,775 1 2,775 1 2,775 1 2,775 1 2,776 1 2,775 1 16,6501 RPTTA/ACA/RB
21)1Cost Allocation-Adm O/H lCity of Grand Terrace IG&A Administration indirect O/H Insurand 690,0001 30,000 1 2.500 1 2,500 1 2,500 1 2,500 1 2,5001 2,500 1 15,0001 RPTTA/ACA/RB
22)IConsulting Services 1RSG 1Annual reporting requirements/administratl 25,000 1 25,000 1 1 2,500 1 2,500 1 5,000 1 5,0001 10,000 1 25,0001 RPTTA
2AConsulting Services (City News Group (Advertising/Noticing I 10,00o 1 10,000 1 1 2,500 1 2,500 1 2,500 1 2,5001 2,500 1 12,5001 RPTTA
24)IConsultingServices I Smothers Appraisers 1PropertyAppraisals 1 13,4001 13,4001 1 1 9,0001 1 1 4,4001 13,4001 RPTTA
25)IConsulting Services (Webb&Associates ITraffic Engineering 1 125,000 1 50,000 1 1 4,000 1 4,000 1 4,000 1 4,0001 4,000 1 20,0001 RPTTA
26)IConsulting Services (ACE Weed Abatement JWeed abatement for Agency property 1 100,000 1 20,000 1 1 1 1 1 10,0001 10,000 1 20.0001 RPTTA
2AConsulting Services I &A Engineering Ilnfrastructure study/design. 1 30,442 1 30,442 1 1 1 1 1 15,0001 15,000 1 30.0001 RPTTA
28)IConsulting Services IChamber of Commerce IBusiness development services 1 20,600 1 10,300 1 860 1 860 1 860 1 860 1 860 1 860 1 5,1601 RPTTA
29)IConsulting Services IUrban Futures JContinuing Disclosure Reporting-bond issl 84,000 1 7,000 1 1 1 3,501)1 3,500 1 1 1 7,0001 RPTTA
30)1Professional Services IStradling Yocra lAttorney Services l 4,000 1 4,000 1 1,0001 2,000 1 1,000 1 1 1 1 4,0001 RPTTA
I I I I I I I I 1 I I 1$ -I
Totals-This Page $ 72,477,4431$ 7,451,0871$ 338,1391$892,9491$532,741 1$ 161,1521$132,2771$4,485,7171$ 6,542,975 1-
Totals-Page 2 $150,793,5551$ 6,888,3451$1,159,388 1$ 25,5001$ 30,5001$ 345.5001$103,0001$5,221,4571$ 6,885,3451-
Totals-Page 3 $ - 1$ - Is Is - Is - Is - Is - Is Is - I�
Totals-Page 4 $ Is Is Is Is Is Is Is Is I�
Totals-Other Obligations $ - 1$ 1$ Is Is Is Is Is Is - �-
Grand total-All Pages $223,270,99811$ 14,339,43211$1,497,52711$918,44911$563.241 11$ 506,65211$235,27711$9,707,17411$ 13,428,320 -
`Payment amount Is extimated,If exact payment amount Is not known.
••LMIHF-Low and Moderate Income Housing Fund;SP-Bond Proceeds;RB-Reserve Balances;ACA-Administrative Cost Allowance;RPTTA-Redevelopment Property Tax Trust Fund;O-Other
e �� I
Name of Redevelopment Agency: City of Grand Terrace as Sucessor Agency to Grand Terrace Community Redevelopment Agency Page 2 of 2 Pages
Project Area(s) Grand Terrace Project Area
04/04/12
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26-Section 34177
Payments by month'
I ,
Total
Outstanding Total Due
During
Jan Feb Mar Apr May Jun
Project Name/Debt Obligation Payee Description Debtor Obligation Fiscal Year 2012 I 2012 I 012 I 012 I 2012 I 2012 I Total I Funding Source—,
AStatutory Pass Through (City of Grand Terrace IStatulory payment obligation I 4.800,000 1 80,000 I I I I I I 80,000 1 80.0001 RPTTA
2)1Statutory Pass Through ISan Bernardino Comm ColStatutory payment obligation I 4,800,0001 80.000 1 I I I I 1 80,0001 80,0001 RPTTA
3)1Negotiated Pass Through (Colton Joint USD Ipayment per agreement 1 10,861,960 1 1.158,888 j 1,158,8881 I 1 -I I I 1,158.8881 RPTTA
4)1Pass Through pd by County ITaxing entities Ipayment per agreement 1 59,856,506 I 2,000,0001 I 1 1 1 1 2,000.000 1 2,000.0001 RPTTA
5)1Housing Fund Deficit 11-ow/Mad Housing Fund IStalutory housing set aside I 48,321,575 1 1,238,7901 1 1 1 1 1 1,238,7901 1,238,7901 RPTTA
6)1Professional Services IHDL 1Property tax allocation reconciliation 1 56.000 1 8,000 1 1 1 1 1 2,500 1 5,500 1 8,0001 RPTTA
7)IDemolition of structures 1Contractor (Demolition 21974 DeBerry 1 15.000 1 15,0001 1 1 15,000 1 I 1 1 15,0001 RPTTA
8)1Consultinq Services (Contractor 1Bond Arbitrage Rebate Calculation and ft1 80.500 1 3,5001 I 1 1 1 I 3,5001 3,5001 RPTTA
9)1Agency Owned Property IVarious contractors 1Property.Maintenance and Insurance I 30,000 1 6,000 1 500 I 500 1 500 1 500 1 500 1 500 1 3,0001 RPTTA
10)1Audiling Services IRAMS 1Required annual auditing services I 70,0001 10,000 I I 10.0001 1 1 1 1 10,0001 RPTTA
11)1Consulting Services )contractors 11'rof Svcs-Agency Disolution-Oversight 1 200.000 1 50,00(3 I I 10,0001 10,000 1 10,000 10,0001 10,000 1 50,000 1 RPTTA
12)1 Professional Services Ispecial Counsel I Successor Agencyand Oversight Board 1 140,000 1 35,000 1 1 5,000 1 5.000 1 5,000 1 10,0001 10,000 1 35,0001 RPTTA
13)ILow Mod Property Purchase IHousing Authority (Purchase property-commercial district 1 463,167 1 463,167 1 1 1 I 1 1 463,167 1 463,1671 RB
14)1Grand Terrace Project Area ISuccessorAgency-Contfad2011A Bond Indenture-Public InfrastructJ 13,510,568 1 500,000 1 1 1 1 250,000 I 1 250,0001 500,0001 BP
15)1 Southwest project area: infrastructure studv and design) I I I I I I I I 1 BP
16)1 Southwest project area: infrastructure construction 1 1 1 I 1 1 1 1 1 1 BP
17)1 Barton Road infrastructure improvements 1 1 1 1 1 I I 1 1 1 BP
18)1 Michigan Street improv 1Webb&Assoc-3/13/12 IMichigan Street:design&ROW acquisitid 908,6951 240,0001 -1 -I -I 80,000 1 80,00D 1 80.000 1 240,0001 BP
19)1 Michigan Street improvements:construction I I 1 1 1 I I I I 1 I BP
20)1 Union PacificlBarton Road bridge construction 1 I I I I 1 1 I I I 1 BP
21)1 Strom drain and street rehabilitation: Van Buren,Pico,and Main Streets 1 I 1 I I I 1 I 1 1 BP
22)1 Mt.Vernon slope stabilization I 1 1 1 I 1 j 1 I 1 1 BP
23)1 Vista Grande Park construction I 1 1 1 1 I I 1 1 1 BP
24)1Grand Terrace Project Area IPooperty Sellers 12011 B Bond Indenture-Property Acquisill 3,622,7B4 I 1,00D,000 I I I I 1 1 1,000,000 1 1,000,000 1 BP
25)1 Land Assembly for Southwest mixed-use area I I i I 1 I I I I I 1 BP
26)1 Land Assembly on Barton Road 1 1 1 I i 1 1 1 I I 1 BP
27)12004 TABS Reserve I (Bond Reserve Requirement 1 1.300.000 I I I 1 I 1 I 1 1 BP
28)12011A TABS Reserve 1 1Bond Reserve Requirement I 1,280,894 1 I I I 1 I I I 1 BP
29)12011B TABS Reserve I (Bond Reserve Requirement 1 476,906 1 -1 I 1 I 1 1 1 -1 BP
30)1 I I I I I I I I I I I
31)1 I I I I I I I I I I I
32)1 I I
33)1 I I I I I I I
34)1 I I I I I I I I I I I
35)1 I I I I I I I I I I I
36)1 I I I I I I I I I I
37)1 I I I I I I I I I I I
38)I I I I I I I I I I I I
39)I I I I I I I I I I I I
40)1 I I I I I I I I I I I
Totals-This Page $ 15D.,793 555.00 $ 6,8BB,345.00 $1,159,388.00 $25 500.00 $30,500.00 $ 345,500.00 $103.000.00 $5,221,457.00 I$ 6,885,345.00
'Payment amount is estimated,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;O-Other
•