2011-12 AGENCY RESOLUTION NO. 2011-12
A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF GRAND TERRACE APPROVING AND ADOPTING A
PRELIMINARY DRAFT INITIAL RECOGNIZED OBLIGATION
PAYMENT SCHEDULE PURSUANT TO AB 1X 26
WHEREAS, pursuant to the Community Redevelopment Law (Health and Safety Code
Sections 33000 et seq.), the City Council of the City of Grand Terrace ("City") created the
Community Redevelopment Agency of the City of Grand Terrace ("Agency"); and
WHEREAS, the Agency has been responsible for implementing the Redevelopment
Plan for the Grand Terrace Community Redevelopment Project covering certain properties
within the City("Project Area"); and
WHEREAS, as part of the 2011-2012 State budget bill, the California State Legislature
recently enacted, and the Governor signed, companion bills AB 1X 26 and AB 1X 27, which
eliminate every redevelopment agency unless the community that created it adopts an ordinance
("Continuation Ordinance") agreeing to participate in an Alternative Voluntary Redevelopment
Program ("Alternate Redevelopment Program") which requires the payment of an annual
"community remittance"payment; and
WHEREAS, AB 1X 26 also requires redevelopment agencies to adopt, by September
30, 2011, a Preliminary Draft Initial Recognized Obligation Payment Schedule ("IROPS"),
covering the period October 1, 2011 through June 30, 2012 which will serve as the basis for the
payment of the Agency's outstanding financial obligations if the City does not adopt an
ordinance electing to participate in the Alternate Redevelopment Program and the Agency is
dissolved; and
WHEREAS, the City held a first reading of the Continuation Ordinance on July 26,
2011 and a second reading on August 9, 2011; and
WHEREAS, the California League of Cities and the California Redevelopment
Association filed suit in the Supreme Court of the State of California challenging the
constitutionality of AB 1X 26 and AB 1X 27; and
WHEREAS, on August 11, 2011, the Supreme Court agreed to take the case and issued
an immediate stay of AB 1X 27 in its entirety and a partial stay of AB 1X 26; and
WHEREAS, because AB 1X 27, the statutory scheme which the City and Agency had
opted into through the adoption of the Continuation Ordinance, has been stayed, it appears the
Agency must adopt an IROPS at this time because the Court's stay left in place Health and
Safety Code Section 34169 which requires redevelopment agencies to prepare a preliminary draft
of the IROPS; and
Page 2
Agency Resolution 2011- 12
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WHEREAS, the Agency may file a copy of the IROPS with the City Clerk to keep in
their records and forward to the:Successor Agency should it-ever be necessary in the future :..
pursuant to.AB 1X 26.
NOW, THEREFORE, THE COMMUNITY REDEVELOPMENT AGENCY OF
THE CITY OF GRAND TERRACE DOES HEREBY RESOLVE AS FOLLOWS:
Section 1. Recitals. The Recitals set forth above are true and correct and
incorporated herein by reference.
Section 2. Approval of IROPS. The Agency hereby approves And adopts the
Preliminary Draft Initial Recognized .Obligation Payment Schedule, in substantially the form
attached hereto as Exhibit A, as required by the recently enacted legislation AB I 26.
Section 3. Transmittal to Appropriate Agencies. The Executive Director is hereby
authorized and directed-to forward-a copy of the Preliminary Draft Initial Recognized Obligation
Payment Schedule to the City Clerk for filing.
PASSED AND ADOPTED by the Community Redevelopment Agency of the City of Grand
Terrace, California at a regular meeting held on the 27th day of September 2011 by the following
vote:
AT`T 'ST`:
Enter ir ,S� •etdxy s f the Co
m ity Chairperson of the Community
;edevelopmeRt;Aency.of the ity of Redevelopment Agency.of the City of
Grid Terrace = Grand Terrace
Y
Resolution No. 2011-12
I; Tracey R. Martinez, Interim Secretary of the Community.Redevelopment Agency of the City
of Grand Terrace, do hereby certify-that the foregoing Resolution was introduced and adopted at
a regular meeting of the Community Redevelopment Agency of the City of Grancb Terrace held
on the 27th day of September 2011,by the following vote:
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Agency Resolution 201-1- 12
AYES: Councilmembers McNaboe, Hays and. Sandoval; Mayor°Pro Tem Garcia
NOES: None
ABSENT: Mayor Stanckewitz
a
ABSTAIN: None
Tracey R. artin z_ '
Interim Agency Sec::--tary
Approved as to form:
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,Agency Counsel�.
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EXHIBIT A
ENFORCEABLE OBLIGATION PAYMENT SCHEDULE °
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City of Grand Terrace Community Redevelopment Agency Page 1 of 2 Pages
PRELIMINARY DRAFT OF THE INITIAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26-Section 34169(h)
_Payments by Period
Total Outstanding Total Due During
Project Name/Debt Obligation Payee Description..
Debt or Obligation Fiscal Year 10/1/11 to 1/1/12 to Total
12/31/11 I 6/30/12
1)I2004.Tax Allocation Bond** IUS Bank IBonds for housing&non-housing projects I 3,790,812 I 1,803,889 I 0:I 15,464 I 15,464.
2)I2011 A Tax Allocation Bond IUS Bank IBonds for non-housing projects I 29,168,212 I. 598,586 I 0 I 299,293 I 299,293
3)I2011 B Tax Allocation Bond IUS Bank IBonds for non-housing projects. I 9,698,770 I 298,011,1 0 I 149,005,1, 149,005
4)ITrustee Fees IUS Bank ITrustee fees on bonds I 266,530 112,115 I 0 I 0 I 0
5jJZion Loan (Zion First National Bank IRefinanced refunding of bonds for projects I 2,421,052 I 264,848 I .. 0 I 127,424 1 127,424'
6)ISERAF Transfer IHousing Fund IRepavment of loan for SERAF. I 448,636 I' .112,159 I 112,159 I 0 1 112,159
7)IRepayment of Water District*** ISB Valley Muni Water IRepayment of incorrect tax'distribution I 2;2951360 I 242,000 I 0 1 242,000 I 242,000
8)IRepayment to Housing Fund INon-Housing Fund IHousing Fund overpayment due to SBVMWD I 459,072 I 459,072 I 0 I 0 I 0
9)IStater Brothers OPA IStater Brothers Markets IPayment on participation agreement I 1,207,500 I 241,500 I 120,750 I 120,750 I 241,500
10)ICommercial Exteriors (Viking Investment Prop IShopping center rehabilitation I 220,429 I 220,429 I 220,429 I 0 I 220,429
11)INeighborhood Imp.Grant (Qualified residents IExterior improvements/correct violations I 39,035 I 39,035 I 23,421 I 0 I 23,421
12)IBaseball Field Improvements IRock.Bottom (Construction of baseball field I 42,469 I 42,469 I 0 I 0 I 0
13)IDoq Park Improvements (Foundation of GT (Installation of park improvements I 35,000 I 35,000,1 35,000 I 0 I 35,000.
14)IMich/Barton/LaPaix (Lee and Stires/Webb Ass IInfrastructure improvements I 535,671 I 535,671 I 0 I 265,671 I 265,671
15)IResidual Receipts ICiiy of Grand Terrace (Affordable housing payment agreement I 3,000,000 I 300,000 I 300,000 I 0 I 300,000
16)IDeveloper MOU (Grand Terr Partners LLC (Terminate development agreement I 375,000 I 375,000 I 0 I 0 I 0
17)IEmployee Costs (City of Grand Terrace (Agency employee costs I 12,187,608 I 529,896 I. . 132,474 I 309,106 I 441,580.
18)IOffice RenUCost Allocation (City of Grand Terrace' (Office space and operations I 7,371,638 I. 320506 I 80,127'I 186;961 I 267,088
19)IConsulting Services IRAMS (Required annual auditing services I 10,000 I 10,000 I 10,000 I 0 I 10,000
20)IConsulting Services IRSG (Annual reporting requirements/administration I - 13,500 I 13,500 I 0 I 0 , 0
21)IConsulting Services ISan Bernardino Sun (Advertising/Noticing I 10,000 I 10,000 I 2,499 I 5,835 I 8,334
22)IConsultingServices ISmothersAppraisers I Property Appraisals I. 13,400I 13,400,1. 4,400I 0I 4,400
23)IConsuiting services (Webb&Associates ITraffic Engineering' I 125,000 I 50,000 112,000 I 30,000 I 42,000
24)IConsulting Services (ACE Weed Abatement (Weed'abatement for Agency property I .36,000 I 12,000 I 6,000 15,500 I 11,500
25)IConsulting Services I &A Engineering Ilnfrastructure study/design I 30,442 I 30,442 I 30;000 I 442 I 30,442
26)IConsulting Services (Chamber of Commerce IBusiness develonmentservices I 10,300 I 10,300 I 2,580 I 6,000 I 8,580
.I _- a i.... a I • _ �. •I h I• .�. . o I• o I o o -
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Totals:-This Page $ 73,806,436 1$ 6,569,828 1.$ 1,091,839 1$1,763,451 1$ 2,855,290
Totals-Other Obligations $ 123,366,703 $ 3,891,000 1$ 2,185,500 I $1,705,500 I $ 3,891,000
Grand total-All Pages 1$ 197,173,139 II$ 10,460,828-11$ 3,277,339 II$3,468,951 II$ 6,746,290
* This Preliminary Draft Initial Recognized Obligation Payment Schedule is to be adopted.by the redevelopment agency no later than.9/30/201.1.It is valid through 6/30/12.
**Debt.service payment of$1,788,425 made 9/1/2011 so not reflected in"10/1/11 through 12131/11"expenditures.
***This payment will be made as soon as the Agency is no longer precluded from doing so.
City of Grand Terrace Community Redevelopment Agency Page 2 of 2 Pages
DRAFT OTHER OBLIGATION PAYMENT SCHEDULE
Per AB 26-Section 34167 and'34169 (*)
Payments by Period
Project Name I Debt Payee Description Total Outstanding Total Due During
Obligation Debt or Obligation Fiscal Year. 10/1/11 to 1/1/12 to Total
. 12131/11 6/30/12
1)IStatutory Pass Through [City of Grand Terrace (Statutory payment obligation 1 4,800,606 1 80,000 1 80,000 1 .0 I 80,000
2)IStatutory Pass Through ISan Bernardino.Corhm Coll 15tatutory payment obligation [ 4800,000 [ 80,000 1 80,000 1 0 [ 80,000
3)1 Negotiated Pass Through IColton Joint USD IPayment per agreement 1 .10,402;888 1 320,000 1 320,000 1 0 320,000
4)1Pass Through pd by County ITaxing entities 1Payment per agreement [ 59,855,506 [ 2,000,000.1. - 1,000,060 1 1,000,000 [ 2,000,000
5)IHousinq Fund Deposit . (Low/Mod Housing.Fund. IStatutory housing set aside I 40;208,309 I _ 1,300,000 1 650,000 1 , 650,000 1. 1,300,000
6)1 County Administration Fee. ISan Bernardino to Auditor' IProperty tax apportion Iment adminfee [ 3,3ob,00 I 111,000 1" 55,506 1 - 55,50b I 11110011
7)I8)1
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ITotals-Other Obligations I$ 123,366,703 1$ 3,891,006 1 $ 2,186,500 1 $1,7051,500 1 $3,891,000
*This Preliminary Draft Initial Recognized Obligation Payment Schedule is to tie adopted by the redevelopment agency no later than 9/30/2611.It is valid through
6/30/12.