2012-23 RESOLUTION NO. 2012-23 SA
%W A RESOLUTION OF THE CITY OF GRAND TERRACE AS SUCESSOR
AGENCY TO THE GRAND TERRACE COMMUNITY
REDEVELOPMENT AGENCY ADOPTING AN DEFICIT FUNDING PLAN
FOR RECOGNIZED OBLIGATIONS PAYMENT SCHEDULE (ROPS
II)FOR PERIOD OF JULY 1, 2012 TO DECEMBER 31, 2012
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 Section 33000, et. seq.;
WHEREAS, AB X1 26 required the dissolution of all redevelopment agencies in
the state, including prohibitions on certain actions by these agencies and requiring
certain actions to be taken,
WHEREAS, AB X1 27 provided that redevelopment agencies could enter into a
Voluntary Alternative Redevelopment Program ("VARP");
WHEREAS, In California Redevelopment Association v Matosantos, the
California Supreme Court upheld AB X1 26 allowing for the dissolution of city
redevelopment agencies and overturning AB X1 27 thus precluding redevelopment
agencies continued existence as a VARP;
WHEREAS, on or about August 23, 2011, the Agency adopted an Enforceable
Obligation Payment Schedule (EOPS) pursuant to Health and Safety Code Section
34169(g);
WHEREAS, on or about September 27, 2011, the Agency adopted an Initial
Recognized Obligation Payment Schedule (IROPS) pursuant to Health and Safety Code
Section 34169(h); and
WHEREAS, on January 10, 2012, the City as Successor Agency adopted
Resolution 2012-01 electing to serve as the successor agency to the Grand Terrace
Community Redevelopment Agency pursuant to Health and Safety Code Section
34176; and
WHEREAS, on January 24, 2012, the City as Successor Agency adopted
Resolution 2012-04 establishing a Redevelopment Obligation Fund pursuant to Health
and Safety Code Section 34170.5(A); and
WHEREAS, on March 27, 2012, the Draft Recognized Obligations Payment
Schedule (ROPS) pursuant to Health and Safety Code Section 34177(I) for the period
July 1, 2012 to December 31, 2012 was considered by the City as Successor Agency
and adopted; and
WHEREAS, on April 18, 2012, the Draft Recognized Obligations Payment
Schedule for the period 7-1 to 12-31-2012 (ROPSII) pursuant to Health and Safety
Code Section 34180(g) was considered by the Oversight Board and adopted; and
WHEREAS, on May 11, 2012, Successor Agency and Oversight Board received
comments by the California Department of Finance, so empowered to review the
Recognized Obligations Payment Schedule for the period 7-1 to 12-31-2012 (ROPSII)
pursuant to Health and Safety Code Section 34179(h); and
WHEREAS, on or about June 3, 2012 the California Department of Finance, so
empowered to review the Recognized Obligations Payment Schedule for the period 7-
1 to 12-31-2012 (ROPSII) pursuant to Health and Safety Code Section 34179(h)
determined that the maximaum allowable distribution from the Redevelopment Property
Tax Trust Fund to be $4,089,776 for the ROPS for the period 7-1-2012 to December 31,
2012 ; and
WHEREAS, on or about June 3, 2012 the San Bernardino Auditor Controller
determined that the available distribution from the Redevelopment Property Tax Trust
Fund for the ROPS II for the period 7-1-2012 to December 31, 2012 to be $1,437,405;
and
WHEREAS, on June 12, 2012, the Successor Agency funding of (ROPSII) for
the period 7-1 to 12-31-2012 will have a projected deficit of$ 2,652,371; and
WHEREAS, the estimated needed Administrative costs exceed the
Administrative Allowance under ABx1-26 on the Recognized Obligations Payment
Schedule for the period 7-1 to 12-31-2012 (ROPSII) ; and
WHEREAS, the Successor Agency has sufficient other sources of revenue
including available fund non-LM Housing fund balance; and
NOW THEREFORE, THE CITY OF GRAND TERRACE AS SUCESSOR
AGENCY TO THE GRAND TERRACE COMMUNITY REDEVELOPMENT AGENCY
DOES RESOLVE, DETERMINE, FIND AND ORDER AS FOLLOWS:
SECTION 1. The City as Successor Agency finds that the above recitations are
true and correct and, accordingly, are incorporated as a material part of this Resolution.
SECTION 2 The City Manager is hereby authorized to expend funds in
accordance with the approved ROPSII for the period July 1 to December 31,2012 from
all allowable successor agency funds including available fund balance.
SECTION 3. The City Clerk shall certify to the adoption of this Resolution.
PASSED APPROVED AND ADOPTED this 12' day of June, 2012 by the following
lliiiw vote:
AYES: Councilmembers MCNaboe, Sandoval and Hays; Mayor Pro Tem Garcia and
Mayor Stanckiewitz
NOES: None
ABSENT: None
ABSTAIN: None
Walt Stancciewdz, Mayor
ATTEST:
Tracey R. artmez, �Cle
APPROVED AS TO FO
chard L. Adams ll, City Attorney
State of California )
County of San Bernardino )SS.
State of California )
I, Tracey R. Martinez, hereby certify that I am the duly appointed City Clerk of the
City of Grand Terrace and and that the foregoing resolution was duly adopted at a
regular meeting of the City Council and the Ctiy Council as the Successor Agency to the
Community Redevelopment Agency of the City of Grand Terrace held on the 12th day of
June, 2012.
�ll l .1 (YJ CA �r l
Tracey R. artin z, City Cle
d i
ATTACHMENT
Amended Draft Recognized Obligations Payment Schedule (ROPS)
July 1, 2012 to December 31, 2012
f Ir f
RECOGNIZED OBLIGATION PAYMENT SCHEDULE-CONSOLIDATED
FILED FOR THE JULY 1.2012 to DECEMBER 31.2012 PERIOD
Name of Successor Agency CITY OF GRAND TERRACE AS SUCCESSOR AGENCY TO
COMMUNITY REDEVELOPMENT AGENCY OF GRANO TERRACE-RR34
I Curtent - �
Total Outstanding I Total Due
Debtor Obligation During Fiscal Year
Outstanding Debt or Obligation (Excludes Pass-Thocanl Debt) $ 86.496.493.00I$ 8.512.288.00
Total Due for six Month
PeNotl
Outstanding Debt or Obligation(Excludes Pass-Through Debt)
8 6,179,989.00
Available Revenues other than anticipated funding from RPTTF JS 2,090,213.00
Enforceable Obligations paid with RPTTF $ 3,039,776.00
Administrative Cost paid with RPTTF $ 250,000.00
Pggvs4hroogh Payments cold with RPTTF $
Administrative Allowance Iglealel ol5%M anllupated FunpNg hum RPTTF or 250 red Note'.Calculation Shedd not Include pssfrihmugh payments made with RPTTF, The RPTTF gonadal That
figure above should nm exmed this AGlnmltllerverne(mmweore $ 250,000.00
Certification of Oversight Board Chairman
Pursuant to Section 34177(l)of the Health and Safety code,
I hereby certify that the above is a true and accurate Remgnized Name Title
Enforceable Payment Schedule far the above named agency.
Signature Date
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