HomeMy WebLinkAbout2016-03 RESOLUTION NO.2016-03
A RESOLUTION OF 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 x1 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 duo 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) finds 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 15`, 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
S.A.RESOLUTION NO. 2016-03 PAGE 1 OF 5 AUGUST 23, 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, Item No. 24 was
approved by the Department of Finance, showing that the use of bond proceeds was a prior
approved enforceable obligation on ROPS 1; and
WHEREAS, the City of Grand Terrace as Successor Agency to the Community
Redevelopment Agency has met on August 23, 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, THE CITY OF GRAND TERRACE AS SUCCESSOR AGENCY
TO THE 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 as Successor Agency finds that all obligations listed on the ROPS
for the period January 1, 2017 to June 30, 2017 (ROPS 16-1713) 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 Successor Agency.
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
deadline. The Executive Director is further authorized to perform all acts necessary and
appropriate which maybe 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.
S.A.RESOLUTION NO.2016-03 PAGE 2 OF 5 AUGUST 23, 2016
SECTION 6. The City Clerk shall certify to the adoption of this Resolution.
PASSED APPROVED AND ADOPTED this 23`d day of August, 2016 by the following vote:
APES: Agency Members Mitchell, Hussey, Wilson, Vice-Chair Robles, Chair
McNaboe
NOES: None
ABSENT: None
ABSTAIN: None
J
C
rcy cNaboer
ATTEST:
Pat Jacqu r7, ity Clery
/
S.A.RESOLUTION NO. 2016-03 PAGE 3 OF 5 AUGUST 23, 2016
Amended Recognized Obligation Payment Schedule(ROPS 16-17B)-_Summary:
Filed for the January 1,2017 through June 30,20.17 Period
Successor Agency: Grand Terrace
County:: . San Bernardino
RODS 16-17B ROPS 16-17B ROPS 1.6-17B
Current Period Requested Funding for Enforceable Obligations(ROPS Detail) Authorized Amounts Requested Adjustments Amended Total
-A : Enforceable Obligations Funded as Follows.(B+C+D): $ - $. 739,573 $ < 739,573
B Bond Proceeds P 739573 739 573.
C Reserve Balance -
D : Other Funds
E Redevelopment Property Tax Trust Fund"(RPTTF)(F+G): $ 922,100 " 922,100
F RPTTF' 797,100 797 100`I;
G Administrative RPTTF '125,000 126000-
H Current Period Enforceable Obligations(A+E): :'$ 922,100 ,$ 739,573 •$ 1,661,673-
Certification of Oversight Board Chairman: /r 1iJ1 rCL7 V wN . '�/1`Ql
Pursuant to Section 34177(o)of the Health and Safety / 1
code,i hereby certify that the above is a true and accurate.. . �lam� l f )Title '
Recognized Obligation Payment Schedule for the above f: p7/lf�j4
named successor agency.
nature Date
S.A. RESOLUTION NO. 2016-03 PAGE 4 OF 5 AUGUST 23, 2016
Grand Terrace Amended Recognized Obligation Payment Schedule(ROPS 16-17B)-ROPS Detail _
January 1,2017 through June 30,2017
_ '(Report Amounts in Whole Dollars)
FProject
AUTHORIZEO'AMOUNT&.,;' ..•.. ... . REQUESTEDADJUSTMENTS. ,. . .... ....Fund Sources .. .. Fund Sources
Total.,. ntling eserveBabnca Other Funds . RPTTF Atlmin RPTTF _Total Bond Proceed. R...-.atonal 01her Funds RPTTF AdmIn RPTTF Total"" Notes
L-.9 Name/Debt obligation Obllgatlon Type Balance Bond Pmmetle R
I I $ .35.168.00811 S -I E I S -I E.` 797,100 I E 125,000 I S- 922,100 I S- _ '739,5731.E -I E IS --.i 3 _ I S 739,573
t- 112011ATax Atl4mlipn Bono :Benda lasued AOer 12f311101 S 24.135.34]II -I -I -I 397.7231 I§'. 397:7231 I I I I I$ -I
212011 BTex AOowllpn Bond ::and
dA0er IW31/101 E 6.677,51511' -I -I "-I 164,4601' 15 -•164,4601 I S' - • -1
1 31Trudee Fees. IF.. I E W'750 11 -1 -I -I -1 1$
:,;.�„ -,,•...- 711
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S.A.RESOLUTION NO.2016-03 PAGE 5 OF 5 AUGUST 23,2016
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