01-17-2018 rc'orw''rxu
-CITY OF GRAND TERRACE
R OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY OF THE GRAND
TERRACE COMMUNITY REDEVELOPMENT AGENCY
AGENDA • JANUARY 17, 2018
Council Chambers Regular Meeting 4:00 PM
' Grand Terrace Civic Center• 22795 Barton Road
CALL TO ORDER
Pledge of Allegiance
ROLL CALL
Attendee Name s Present f ,Absent` Late i Arrived
Chair Darcy McNaboe ❑ — ❑ I ❑ __
Vice Chair Chuck Morga 1 0 0 ❑
Board Member Cindy Saks 0 0 i1 ❑
Board Member Bobbie Forbes I ❑ ❑ ❑
Board Member Lawrence Strong j ❑ I ❑ 0
Board Member Adreane Freeman ( 0 I ❑ 0
A. SPECIAL PRESENTATIONS - NONE •
B. PUBLIC COMMENT
This is the opportunity for members of the public to comment on any items not appearing on the regular
agenda. Because of restrictions contained in California Law, the Oversight Board may not discuss or act
on any item not on the agenda, but may.briefly respond to statements made or.ask a question for
clarification. The Chairman may also request a brief response from staff to questions raised during public
comment or may request a matter be agendized for a future meeting.
C. APPROVAL OF MINUTES
1. Approval of Minutes— Regular Meeting— 11/01/2017
DEPARTMENT: CITY CLERK
City of Grand Terrace Page 1
,." ` /• -,---'- - '
- = 2.'' Maintain Public Safety', - " - , ), , ' - ' ' .
Ensure Staff:Levels for Police`Services Remain.Adequate for Our,'Com►iiunity, ' ,
Invest in'Criticatlmprovements,to Infrastructure , '
3.,, Promote..Economic=Development
- Develop Proactive_Economic Development Plan to Attract•New'Businesses ", ,
Invest in.Infrastructure Needed to'Support Business Attraction and Retention , - .
,
Prepare for Development by UpdatingZoning and Development Codes including the Sign Code
r, i '
4. Develop and Implement Successful Partnerships` v' -
-. Work Collaboratively with Community G roups,Private and Public Sector.Agencies to.Facilitate ',
the,Delivery of Services Benefitting Youth,.Seniors and Our Community.
Work with Local, Regional and State Agencies to Secure Funding for Programs.and Projects ,
_' 5. Engage in Proactive Communication, , „
_ Develop and Implement a Cost Effective Proactive Communication Program ,
- Utilize Technology and Web-Based Tools to Disseminate Information , - •
- Engage the Community by Participation- • • •
ny 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.
6.13 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 consummate, evidence or confirm the sale or any other agreement
contained herein in the manner contemplated hereby
6.14 Counterparts. This Agreement may be executed in any number of counterparts, cau
each of which shall be an original but all of which shall constitute one and the same instrument.
Page I13
Packet.Pg. 31
the other party to pursue other remedies a
permitted hereunder for the breach of the party who gives such notice.
Page 111
Packet Pg.29
s Agreement,
the provisions of this Agreement shall prevail to the extent of any such inconsistency.
Page 17
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Agenda Oversight Board January 17, 2018
D. UNFINISHED BUSINESS - NONE
E. NEW BUSINESS
2. Approval of Successor Agency's Recognized Obligation Payment Schedule (ROPS) 18-
19 in the Amount of$2,070,187
RECOMMENDATION:
1. Adopt the Successor Agency's Recognized Obligation Payment Schedule (ROPS)
18-19 in the amount of$2,070,187.
2. ADOPT RESOLUTION NO. SA-2018-XX, A RESOLUTION OF THE OVERSIGHT
BOARD FOR SUCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF GRAND TERRACE APPROVING A RECOGNIZED
OBLIGATION PAYMENT SCHEDULE COVERING THE PERIOD JULY 1, 2018 TO
JUNE 30, 2019 (ROPS 18-19) AS REQUIRED BY HEALTH AND SAFETY CODE
SECTION 34177.
DEPARTMENT: FINANCE
F. BOARD MEMBER REPORTS
ADJOURN
The Next Regular Oversight Board Meeting will be held on Wednesday,' February 7,
2018 at 4:00 PM. Agenda item requests must be submitted in writing to the City Clerk's
office no later than 14 calendar days preceding the meeting.
•
•
City of Grand Terrace Page 2
ments made or.ask a question for
clarification. The Chairman may also request a brief response from staff to questions raised during public
comment or may request a matter be agendized for a future meeting.
C. APPROVAL OF MINUTES
1. Approval of Minutes— Regular Meeting— 11/01/2017
DEPARTMENT: CITY CLERK
City of Grand Terrace Page 1
,." ` /• -,---'- - '
- = 2.'' Maintain Public Safety', - " - , ), , ' - ' ' .
Ensure Staff:Levels for Police`Services Remain.Adequate for Our,'Com►iiunity, ' ,
Invest in'Criticatlmprovements,to Infrastructure , '
3.,, Promote..Economic=Development
- Develop Proactive_Economic Development Plan to Attract•New'Businesses ", ,
Invest in.Infrastructure Needed to'Support Business Attraction and Retention , - .
,
Prepare for Development by UpdatingZoning and Development Codes including the Sign Code
r, i '
4. Develop and Implement Successful Partnerships` v' -
-. Work Collaboratively with Community G roups,Private and Public Sector.Agencies to.Facilitate ',
the,Delivery of Services Benefitting Youth,.Seniors and Our Community.
Work with Local, Regional and State Agencies to Secure Funding for Programs.and Projects ,
_' 5. Engage in Proactive Communication, , „
_ Develop and Implement a Cost Effective Proactive Communication Program ,
- Utilize Technology and Web-Based Tools to Disseminate Information , - •
- Engage the Community by Participation- • • •
ny 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.
6.13 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 consummate, evidence or confirm the sale or any other agreement
contained herein in the manner contemplated hereby
6.14 Counterparts. This Agreement may be executed in any number of counterparts, cau
each of which shall be an original but all of which shall constitute one and the same instrument.
Page I13
Packet.Pg. 31
the other party to pursue other remedies a
permitted hereunder for the breach of the party who gives such notice.
Page 111
Packet Pg.29
s Agreement,
the provisions of this Agreement shall prevail to the extent of any such inconsistency.
Page 17
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e CITY OF GRAND TERRACE
`A. _ OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY OF THE GRAND
TERRACE COMMUNITY REDEVELOPMENT AGENCY
MINUTES • NOVEMBER 1, 2017
Council Chambers Regular Meeting 4:00 PM
Grand Terrace Civic Center• 22795 Barton Road
CALL TO ORDER
PLEDGE OF ALLEGIANCE
The Pledge of Allegiance was led by Mayor Darcy McNaboe.
Attendee Name : Title ` ' Status Arrived. s
Darcy McNaboe Chair Present o
Chuck Morga ; Vice Chair Absent ; a
Cindy Saks 1 Board Member Present
Bobbie Forbes I Board Member ; Present a
Adreane Freeman Board Member Present ! o
Lawrence P. Strong Board Member, j Absent
G. Harold Duffey City Manager 4 Absent i N
Debra Thomas City Clerk Present
•
Baron J. Bettenhausen Legal Counsel Present o
Cynthia A. Fortune I Assistant City Manager Present c
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A. SPECIAL PRESENTATIONS - NONE
B. PUBLIC COMMENT- NONE co
a
ti C.,
C. APPROVAL OF MINUTES
41
1. Approval of Minutes— Regular Meeting — 03/15/2017
RESULT: - , ACCEPTED [UNANIMOUS]
MOVER: Cindy Saks, Board.,Member
SECONDER:- Adreane Freeman;'Board Member
AYES:-i Darcy McNaboe,`Cindy Saks, Bobbie Forbes,_Adreane Freeman
ABSENT: = .,Chuck Morga, Lawrence P:Strong
D. UNFINISHED BUSINESS - NONE
City of Grand Terrace Page 1
Racket Pg.3
Economic=Development
- Develop Proactive_Economic Development Plan to Attract•New'Businesses ", ,
Invest in.Infrastructure Needed to'Support Business Attraction and Retention , - .
,
Prepare for Development by UpdatingZoning and Development Codes including the Sign Code
r, i '
4. Develop and Implement Successful Partnerships` v' -
-. Work Collaboratively with Community G roups,Private and Public Sector.Agencies to.Facilitate ',
the,Delivery of Services Benefitting Youth,.Seniors and Our Community.
Work with Local, Regional and State Agencies to Secure Funding for Programs.and Projects ,
_' 5. Engage in Proactive Communication, , „
_ Develop and Implement a Cost Effective Proactive Communication Program ,
- Utilize Technology and Web-Based Tools to Disseminate Information , - •
- Engage the Community by Participation- • • •
ny 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.
6.13 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 consummate, evidence or confirm the sale or any other agreement
contained herein in the manner contemplated hereby
6.14 Counterparts. This Agreement may be executed in any number of counterparts, cau
each of which shall be an original but all of which shall constitute one and the same instrument.
Page I13
Packet.Pg. 31
the other party to pursue other remedies a
permitted hereunder for the breach of the party who gives such notice.
Page 111
Packet Pg.29
s Agreement,
the provisions of this Agreement shall prevail to the extent of any such inconsistency.
Page 17
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C1,
Minutes Oversight Board November 1, 2017
E. NEW BUSINESS •
2. Approval of Successor Agency's Last & Final Recognized Obligation Payment Schedule
(ROPS) for July 1, 2018 to June 30, 2034
Cynthia Fortune, Assistant City Manager gave the Power Point presentation for this
item.
Assistant City Manager Fortune explained that the DOF will need 100 days to make its
determination on the 2018-2019 Annual ROPS.
N
Mayor McNaboe asked when San Bernardino County will take over for the City's
Oversight Board.
Assistant City Manager Fortune stated July 1, 2018 the County will take over.
0
1. ADOPT THE SUCCESSOR AGENCY'S LAST AND FINAL RECOGNIZED a
OBLIGATION PAYMENT SCHEDULE (ROPS) FOR THE PERIOD JULY 1, 2018 a
THROUGH JUNE 30, 2034 IN THE AMOUNT OF $34,692,383; AND
0
0
2. ADOPT RESOLUTION NO. 2017-XX, ‘A RESOLUTION OF THE OVERSIGHT
BOARD FOR THE SUCESSOR AGENCY TO THE COMMUNITY 1,7
REDEVELOPMENT AGENCY OF THE CITY OF GRAND TERRACE APPROVING o
A LAST AND FINAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE'(ROPS)
COVERING THE PERIOD JULY 1, 2018 TO JUNE 30, 2034 AS REQUIRED, BY
HEALTH AND SAFETY CODE SECTION 34177. �.
0
RESULT: APPROVED [UNANIMOUS],
MOVER:' - Cindy Saks, Board Member - -
SECONDER: Bobbie Forbes, Board Member
AYES: " Darcy McNaboe Cindy Saks, Bobbie Forbes,Adreane Freeman
ABSENT: Chuck Morga,-Lawrence P. Strong
3. 2011 Bond Proceeds Expenditure Agreement in the Amount of$2,026,585. co
Cynthia Fortune, Assistant City Manager gave the Power Point presentation for this
item.
(1) APPROVE A BOND PROCEEDS EXPENDITURE AGREEMENT FOR THE
EXPENDITURE OF EXCESS 2011 TAX ALLOCATION BONDS IN THE "-
AMOUNT OF $2,026,585 BETWEEN THE CITY OF GRAND TERRACE AND
THE GRAND TERRACE SUCCESSOR AGENCY;
(2) AUTHORIZE THE TRANSFER OF $2,026,585 FROM THE SUCCESSOR
AGENCY 2011A&B BOND PROCEEDS FUND (FUND 36) TO THE GENERAL
FUND (FUND 10);
(3) ADOPT RESOLUTION OB-2017-XX, A RESOLUTION OF THE OVERSIGHT
BOARD OF THE SUCCESSOR AGENCY TO THE COMMUNITY
REDEVELOPMENT AGENCY APPROVING A REVISED BOND PROCEEDS
City of Grand Terrace Page 2
Packet Pg,4-,
Proactive Communication Program ,
- Utilize Technology and Web-Based Tools to Disseminate Information , - •
- Engage the Community by Participation- • • •
ny 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.
6.13 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 consummate, evidence or confirm the sale or any other agreement
contained herein in the manner contemplated hereby
6.14 Counterparts. This Agreement may be executed in any number of counterparts, cau
each of which shall be an original but all of which shall constitute one and the same instrument.
Page I13
Packet.Pg. 31
the other party to pursue other remedies a
permitted hereunder for the breach of the party who gives such notice.
Page 111
Packet Pg.29
s Agreement,
the provisions of this Agreement shall prevail to the extent of any such inconsistency.
Page 17
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C1.1
Minutes Oversight Board November 1, 2017
EXPENDITURE AGREEMENT BETWEEN THE CITY OF GRAND TERRACE
AND THE SUCCESSOR AGENCY TO THE FORMER COMMUNITY
REDEVELOPMENT AGENCY REGARDING THE EXPENDITURE OF
FORMER COMMUNITY REDEVELOPMENT AGENCY TAX ALLOCATION
BONDS.
RESULT: APPROVED [UNANIMOUS] `
MOVER: - Adreane Freeman„Board Member
SECONDER: - .Bobbie Forbes, Board Member
' AYES:' ,Darcy McNaboe, Cindy Saks, Bobbie Forbes,,Adreane'Freeman
ABSENTe Chuck Morga, Lawrence P. Strong - - -
Y
F. BOARD MEMBER REPORTS - NONE o
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ADJOURN
The Next Regular Oversight Board Meeting will be held on Wednesday, November 15, a
2017 at 4:00 PM.
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Chairman of the Oversight Board for the Secretary of the Oversight Board for the '_
Successor Agency of the Grand Terrace Successor Agency of the Grand Terrace
Community Redevelopment Agency Community Redevelopment Agency
a>
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City of Grand Terrace Page 3
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oard Member
AYES: " Darcy McNaboe Cindy Saks, Bobbie Forbes,Adreane Freeman
ABSENT: Chuck Morga,-Lawrence P. Strong
3. 2011 Bond Proceeds Expenditure Agreement in the Amount of$2,026,585. co
Cynthia Fortune, Assistant City Manager gave the Power Point presentation for this
item.
(1) APPROVE A BOND PROCEEDS EXPENDITURE AGREEMENT FOR THE
EXPENDITURE OF EXCESS 2011 TAX ALLOCATION BONDS IN THE "-
AMOUNT OF $2,026,585 BETWEEN THE CITY OF GRAND TERRACE AND
THE GRAND TERRACE SUCCESSOR AGENCY;
(2) AUTHORIZE THE TRANSFER OF $2,026,585 FROM THE SUCCESSOR
AGENCY 2011A&B BOND PROCEEDS FUND (FUND 36) TO THE GENERAL
FUND (FUND 10);
(3) ADOPT RESOLUTION OB-2017-XX, A RESOLUTION OF THE OVERSIGHT
BOARD OF THE SUCCESSOR AGENCY TO THE COMMUNITY
REDEVELOPMENT AGENCY APPROVING A REVISED BOND PROCEEDS
City of Grand Terrace Page 2
Packet Pg,4-,
Proactive Communication Program ,
- Utilize Technology and Web-Based Tools to Disseminate Information , - •
- Engage the Community by Participation- • • •
ny 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.
6.13 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 consummate, evidence or confirm the sale or any other agreement
contained herein in the manner contemplated hereby
6.14 Counterparts. This Agreement may be executed in any number of counterparts, cau
each of which shall be an original but all of which shall constitute one and the same instrument.
Page I13
Packet.Pg. 31
the other party to pursue other remedies a
permitted hereunder for the breach of the party who gives such notice.
Page 111
Packet Pg.29
s Agreement,
the provisions of this Agreement shall prevail to the extent of any such inconsistency.
Page 17
Packet N.25
E_2
AGENDA REPORT
MEETING DATE: January 17, 2018 Successor Agency Item
TITLE: Approval of Successor Agency's Recognized Obligation
Payment Schedule (ROPS) ' 18-19 in the Amount of
$2,070,187
PRESENTED BY: Cynthia Fortune, Assistant City Manager
RECOMMENDATION: 1. Adopt the Successor Agency's Recognized Obligation
Payment Schedule (ROPS) 18-19 in the amount of
$2,070,187.
2. ADOPT RESOLUTION NO. SA-2018-XX, A
RESOLUTION OF THE OVERSIGHT . BOARD FOR
SUCESSOR AGENCY TO THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF GRAND
TERRACE APPROVING A RECOGNIZED OBLIGATION
PAYMENT SCHEDULE COVERING THE PERIOD JULY 1,
2018 TO JUNE 30, 2019 (ROPS 18-19) AS REQUIRED BY
HEALTH AND SAFETY CODE SECTION 34177.
2030 VISION STATEMENT:
This staff report supports Goal #1, "Ensuring Our Fiscal Viability" through the
continuous monitoring of revenue receipts and expenditure disbursements against
approved budget appropriations and to ensure that the Agency's enforceable
obligations receive the appropriate Redevelopment Property Tax Trust Fund (RPTTF)
funding.
BACKGROUND:
ANNUAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS)
Redevelopment dissolution and wind-down legislation (ABx1 26 and AB 1484) required,
successor agencies to submit a Recognized Obligation Payment Schedule (ROPS)
covering each six-month period, following review and approval of the ROPS by their
respective Oversight Boards. The Agency has submitted six-month ROPS requests to
the California Department of Finance (DOF) since February 1, 2012.
Effective January 1, 2016, ROPS schedules have been submitted on an annual basis
covering the upcoming fiscal year from July 1st to June 30th. The annual ROPS will be
due to the DOF on February 1st of each year.
The next ROPS, ROPS 2018-19 is due to the DOF on February 1, 2018, and covers the
Packet Pg.;6'
THE SUCCESSOR
AGENCY 2011A&B BOND PROCEEDS FUND (FUND 36) TO THE GENERAL
FUND (FUND 10);
(3) ADOPT RESOLUTION OB-2017-XX, A RESOLUTION OF THE OVERSIGHT
BOARD OF THE SUCCESSOR AGENCY TO THE COMMUNITY
REDEVELOPMENT AGENCY APPROVING A REVISED BOND PROCEEDS
City of Grand Terrace Page 2
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Proactive Communication Program ,
- Utilize Technology and Web-Based Tools to Disseminate Information , - •
- Engage the Community by Participation- • • •
ny 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.
6.13 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 consummate, evidence or confirm the sale or any other agreement
contained herein in the manner contemplated hereby
6.14 Counterparts. This Agreement may be executed in any number of counterparts, cau
each of which shall be an original but all of which shall constitute one and the same instrument.
Page I13
Packet.Pg. 31
the other party to pursue other remedies a
permitted hereunder for the breach of the party who gives such notice.
Page 111
Packet Pg.29
s Agreement,
the provisions of this Agreement shall prevail to the extent of any such inconsistency.
Page 17
Packet N.25
E.2
reporting period July 1, 2018 — June 30, 2019. The attached detailed ROPS includes
two (2) six-month periods:
1. ROPS 18-19A—July 1, 2018— December 31, 2018; and
2. ROPS 18-19B —January 1, 2019—June 30, 2019.
SUBMITTAL TO DEPARTMENT OF FINANCE - LAST & FINAL ROPS AND REVISED
BOND PROCEEDS EXPENDITURE AGREEMENT
On November 23, 2017, the Successor Agency submitted the following documents to
the Department of Finance for their review and approval:
1. The Agency's Last and Final ROPS; and
2. The Revised Bond Proceeds Expenditure Agreement between the Successor
Agency and the City of Grand Terrace (approximately $2m). HSC Section
34191.4 (c) (2)A, states that after receiving a Finding of Completion, a successor
agency may use bond proceeds (5% or $289k) issued on or after January 1,
2011 in a manner consistent with the original bond covenants. Additionally, HSC
Section 34191.4 (c) (2) B, states that after approval of a Last and Final ROPS, a
successor agency may expend additional bond proceeds (15% or $2m).
During the review and approval process, additional documentation was provided to the
DOF and several conference calls where held between the Agency and DOF to provide
the DOF with additional information and clarity of the requests listed on the Last and
Final ROPS submitted by the Agency.
Since the Agency's Last and Final ROPS is still undergoing review, the DOF issued a
letter on December 15, 2017, not approving the Revised Bond Proceeds Expenditure
Agreement between the Agency and the City.
LAST AND FINAL ROPS
On December 14, 2017, DOF e-mailed Agency staff providing their adjustments and
recommendations to approving the Agency's Last and Final ROPS. Included in their
recommendations was to change the funding source for the debt service payments of
the 2011 Tax Allocation Bonds (TABs) Series A and B.
The Agency's initial submittal requested the use of Redevelopment Property Tax Trust
Fund (RPTTF) funding in the amount of $27.5m, for the debt service payments of the
2011 TABs. The.DOF adjusted the submittal to reflect the use of approximately $11.9m
in RPTTF funding to pay for the debt service, with the balance of $15.6m of debt service
payments be paid out of the bond proceeds.
The Agency's Executive Director, Harold Duffey, does not believe that the Agency and
the Oversight Board accorded him the authority to modify the funding sources of the
Last and Final ROPS. To date, the agency is still reviewing the proposed adjustments
sent by the DOF.
DISCUSSION:
Packet Pg.7
Web-Based Tools to Disseminate Information , - •
- Engage the Community by Participation- • • •
ny 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.
6.13 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 consummate, evidence or confirm the sale or any other agreement
contained herein in the manner contemplated hereby
6.14 Counterparts. This Agreement may be executed in any number of counterparts, cau
each of which shall be an original but all of which shall constitute one and the same instrument.
Page I13
Packet.Pg. 31
the other party to pursue other remedies a
permitted hereunder for the breach of the party who gives such notice.
Page 111
Packet Pg.29
s Agreement,
the provisions of this Agreement shall prevail to the extent of any such inconsistency.
Page 17
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•
Since the Agency's Last and Final ROPS is still in the review and approval process with
the DOF, the Agency must continue to submit annual ROPS to identify enforceable
obligations to be paid from former property tax increment receipts, which are held by the
County Auditor-Controller in the Redevelopment Property Tax Trust Fund (RPTTF), until
such that the Agency's Last and Final ROPS is approved.
Since the dissolution of redevelopment agencies, property tax increment is distributed to
agencies subject to available funds and an approved .ROPS. Any line items reported on
the ROPS that are denied by the DOF will not receive property tax distribution.
As shown on the ROPS 18-19 summary, Enforceable Obligations totaling $2,070,187
are reported for each six-month period as follows:
•
ROPS ROPS
Description TOTAL
18-19A 18-19B
Administrative Allowance 20,130 20,130 40,260
Non-administrative RPTTF: i
• Bond Principah& Interest-2011A 721,723 384,958 1,106,681
• Bond Principal & Interest-2011B 488,455 141,563 630,018
• Trustee Fees 0 2,700 2,700
• San Bernardino Valley Municipal 0 233,438 233,438
Water District(SBCMWD) Debt
Service Agreement Payment j
• Prof. Svcs—Weed Abatement 0 790 790
• SEC Bond Compliance Reporting 0 1,300 1,300
I • Annual Audit& Reporting Svcs 0 5,000 5,000
• Supplemental Education 0 50,000 50,000
Revenue Augmentation Fund
(SERAF) Loan
TOTAL ROPS 17-18 $1,230,308 $839,879 $2,070,187
The Successor Agency Board approved the proposed ROPS 18-19 on January 9, 2017.
Upon approval of the ROPS 18-19 obligation schedule by the Oversight Board, the
ROPS 18-19 will be submitted to the Department of Finance for their approval by the
February 1st deadline date.
FISCAL IMPACT:
Of the total amount of $2,070,1'87, it is estimated that sufficient redevelopment property
:Packet,Pg:-8_
ct the use of approximately $11.9m
in RPTTF funding to pay for the debt service, with the balance of $15.6m of debt service
payments be paid out of the bond proceeds.
The Agency's Executive Director, Harold Duffey, does not believe that the Agency and
the Oversight Board accorded him the authority to modify the funding sources of the
Last and Final ROPS. To date, the agency is still reviewing the proposed adjustments
sent by the DOF.
DISCUSSION:
Packet Pg.7
Web-Based Tools to Disseminate Information , - •
- Engage the Community by Participation- • • •
ny 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.
6.13 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 consummate, evidence or confirm the sale or any other agreement
contained herein in the manner contemplated hereby
6.14 Counterparts. This Agreement may be executed in any number of counterparts, cau
each of which shall be an original but all of which shall constitute one and the same instrument.
Page I13
Packet.Pg. 31
the other party to pursue other remedies a
permitted hereunder for the breach of the party who gives such notice.
Page 111
Packet Pg.29
s Agreement,
the provisions of this Agreement shall prevail to the extent of any such inconsistency.
Page 17
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E.2
•
tax funding will be available from the RPTTF to pay for Enforceable Obligations reported
on the ROPS 18-19.
Estimated Reserves, June 30, 2017:
Description Amount
Bond Proceeds (includes bond covenant requirement and interest 19,689,914
earned)
Excess amounts from prior RPTTF ROPS distributions that may be 68.414
used for future ROPS obligations •
TOTAL $19,758,328
ATTACHMENTS:
• Resolution Approving ROPS 18-19 (DOC)
• Grand Terrace_ROPS_18-19 (PDF)
APPROVALS:
Cynthia A. Fortune ' Completed 01/10/2018 4:46 PM
Finance Completed 01/10/2018 4:46 PM
City Attorney Completed 01/12/2018 11:21 AM
City Manager Completed 01/12/2018 11:59 AM
Oversight Board Pending 01/17/2018 4:00 PM
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E.2.i
RESOLUTION NO. SA-2018-
A RESOLUTION OF THE OVERSIGHT BOARD FOR THE SUCCESSOR
AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF GRAND TERRACE APPROVING A RECOGNIZED
OBLIGATION PAYMENT SCHEDULE COVERING THE PERIOD JULY a.
1, 2018 TO D CCMBCR 34; 201.9 (ROPS 18-19) AS REQUIRED BY ce
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. ets
Seq.; and a
0
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 c
Agency ("Successor Agency") pursuant to HSC-Section 34176; and
ce
p
WHEREAS, a Recognized Obligation Payment Schedule (ROPS) is defined in
HSC Section 34171(h) as the minimum payment amounts and the due dates of
payments required by enforceable obligations; and
WHEREAS, the ROPS identifies the payment source of enforceable obligations cn
as payable from the Redevelopment Property Tax Trust Fund (RPTTF)=and payable
from Other Sources of the Successor Agency; and co
0)
WHEREAS, the California Department of Finance has required a submittal of the 017
ROPS covering the period July 1, 2018 to June 30, 2019 (ROPS 18-19), in accordance u,
with AB 1484; and p
WHEREAS, the Successor Agency to the Community Redevelopment Agency
approved the Recognized Obligation Payment Schedule for the period July 1, 2018 to 2
0.
June 30, 2019 (ROPS 18-19) on January 9, 2018; and
WHEREAS, the Oversight Board for the Successor Agency to the Community r
Redevelopment Agency of the City of Grand Terrace has met and duly considered a
Recognized Obligation Payment Schedule for the period July 1, 2018 to June 30, 2019
re
(ROPS 18-19).
Packet Pg.10,-
ctor, Harold Duffey, does not believe that the Agency and
the Oversight Board accorded him the authority to modify the funding sources of the
Last and Final ROPS. To date, the agency is still reviewing the proposed adjustments
sent by the DOF.
DISCUSSION:
Packet Pg.7
Web-Based Tools to Disseminate Information , - •
- Engage the Community by Participation- • • •
ny 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.
6.13 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 consummate, evidence or confirm the sale or any other agreement
contained herein in the manner contemplated hereby
6.14 Counterparts. This Agreement may be executed in any number of counterparts, cau
each of which shall be an original but all of which shall constitute one and the same instrument.
Page I13
Packet.Pg. 31
the other party to pursue other remedies a
permitted hereunder for the breach of the party who gives such notice.
Page 111
Packet Pg.29
s Agreement,
the provisions of this Agreement shall prevail to the extent of any such inconsistency.
Page 17
Packet N.25
E.2a
NOW THEREFORE, THE OVERSIGHT BOARD FOR THE SUCCESSOR
AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF
GRAND TERRACE DOES RESOLVE, DETERMINE, FIND AND ORDER AS °'
FOLLOWS: 017
a
O
SECTION 1. The Oversight Board finds that the above recitations are true and re
correct and, accordingly, are incorporated as a material part of this Resolution.
SECTION 2. The Oversight Board finds that all obligations listed on the ROPS n
for the period July 1, 2018 to June 30, 2019 (ROPS 18-19) are true and correct and,
accordingly, are hereby considered enforceable obligations.
SECTION 3. Pursuant to HSC Section 34177, the ROPS for the period July 1,
2018 to June 30, 2019 (ROPS 18-19), incorporated herein as Attachment A, ("ROPS47.
18-19") is hereby approved and adopted in substantially the same form as shown in a�
Attachment A by the Oversight Board.
SECTION 4. The Executive Director is hereby authorized to make such non-
•
substantive changes and adjustments to ROPS 18-19, as attached, which may be c
necessary and appropriate.
ce
SECTION 5. The Executive Director is hereby directed to take all necessary and
appropriate acts to submit the ROPS 18-19 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 N
necessary_and appropriate which may be required by the California Health & Safety d
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 co
applicable agency.
SECTION 6. The Oversight Board Secretary shall certify to the adoption of this
Resolution.
C)
PASSED APPROVED AND ADOPTED this 17th day of January, 2018 by the 2
following vote: a
AYES: r
NOES:
cc
ABSENT:
ABSTAIN: cti
Packet Pg 11
19
re
(ROPS 18-19).
Packet Pg.10,-
ctor, Harold Duffey, does not believe that the Agency and
the Oversight Board accorded him the authority to modify the funding sources of the
Last and Final ROPS. To date, the agency is still reviewing the proposed adjustments
sent by the DOF.
DISCUSSION:
Packet Pg.7
Web-Based Tools to Disseminate Information , - •
- Engage the Community by Participation- • • •
ny 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.
6.13 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 consummate, evidence or confirm the sale or any other agreement
contained herein in the manner contemplated hereby
6.14 Counterparts. This Agreement may be executed in any number of counterparts, cau
each of which shall be an original but all of which shall constitute one and the same instrument.
Page I13
Packet.Pg. 31
the other party to pursue other remedies a
permitted hereunder for the breach of the party who gives such notice.
Page 111
Packet Pg.29
s Agreement,
the provisions of this Agreement shall prevail to the extent of any such inconsistency.
Page 17
Packet N.25
E.2.a
Darcy McNaboe, Oversight Board Chair
Co
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ATTEST: cc
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Debra Thomas, Oversight Board Secretary E.
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Oversight Board Pending 01/17/2018 4:00 PM
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Attachment A
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Recognized Obligation Payment Schedule (ROPS) N
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For the Period July 1, 2018 to December 31, 2019
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(ROPS 18-19)
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Packet 12-
11:59 AM
Oversight Board Pending 01/17/2018 4:00 PM
Packet Pg.9
Recognized Obligation Payment Schedule(ROPS 18-19)-Summary
Filed for the July 1,2018 through June 30,2019 Period
m
Successor Agency: Grand Terrace ,a
County: San Bernardino in
a
0
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18-19A Total 18-19B Total
Current Period Requested Funding for Enforceable Obligations(ROPS Detail) (July-December) (January-June) ROPS 18-19 Total u
)
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A Enforceable Obligations Funded as Follows(B+C+D): $- - $ - $ U
co
, B Bond Proceeds - - _ c
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C Reserve Balance - - -
a
D Other Funds - - ,- c
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E Redevelopment Property Tax Trust Fund(RPTTF)(F+G): $ 1,230,308 $ , 839,879.-.$ _ 2,070,187 a)
F RPTTF 1,210,178 819,749 2,029,927 a
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G Administrative RPTTF 20,130 20,130 - 40,260 N
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H Current Period Enforceable Obligations(A+E): $ 1,230,308. $ 839,879 '$ 2,070,187 o
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Certification of Oversight Board Chairman: y,
Pursuant to Section 34177(o)of the Health and Safety code,I hereby m
U Title
certify that the above is a true and accurate Recognized Obligation Name 0
Payment Schedule for the above named successor agency. Is/ ce
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Signature Date `-
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ee to do such further acts and
things and to execute and deliver such additional agreements and instruments as the other may
reasonably require to consummate, evidence or confirm the sale or any other agreement
contained herein in the manner contemplated hereby
6.14 Counterparts. This Agreement may be executed in any number of counterparts, cau
each of which shall be an original but all of which shall constitute one and the same instrument.
Page I13
Packet.Pg. 31
the other party to pursue other remedies a
permitted hereunder for the breach of the party who gives such notice.
Page 111
Packet Pg.29
s Agreement,
the provisions of this Agreement shall prevail to the extent of any such inconsistency.
Page 17
Packet N.25
E.2.b
Grand Terrace Recognized Obligation Payment Schedule(ROPS 18.19)-ROPS Detail
July 1,2018 through June 30,2019
(Report Amounts In Whole Dollars) - -- - -
A B c 0 E F G N I J R L M N O P 0 R 5 T U V W
.- 167$A(July•,Uece)Tlber)_. _I ,. _ 19-1 B(January-June)
(Fund Source%J Pond Sources 01
Cenlre3129rovmad Conlrac8Agreemod Total Ouhlsn3Ing ROP51,19 13-19A - 18.15E
Ilona Project Nenelcebl Ob4game 0219on Type Eeeadbneata Termination Pals Payee OaaO,nlclupnied 528e Pmlxt Amy 8.btar OEligufee Rdnetl Told :,.. ..., .... .�.. .. -a., ,....:-.r Tata1 ......... ...: Teed CO
5 - 5 3.070.107 5 -5 -5 -5 1,310270 5 30.130 5 1230,30E r 5 839
20t1 AT4310 0nBam Batda Issued After lLJ1/10 1I12011 BI1rzW] US Bank .Bab Rndph and Interest ROA N 5 1.100.001 5 331T63 f
US Behr Bob Prndple ad Interest RDA N 5 0]0,010 : 5 488,455 'S 14'
22a11 elan Algce6n BaM Rands Issued Agar 12/J1I10 1112011 .0112030 . ab O.
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112011A TARO eprd Prgats P.011.3 mW Sonless.' 3113/3012 - L13/3015 Wsbb SAN=• kWrym6lMmPavwnwia,Oft, N- t _ r 1 >.
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'103011ATA090adR9s1a MpmvideNnOea200 re Vt2ll e1203' CaasgaShR SadwulPmsddo idrkah 4. ' e N33011A,192S58,d Pwl...W dnn0" Imy,0v0e0Wlydwa''1112011' 0N2033 'CWletlala5I311 Bann Roadbyl.Wurfus NI 8 -'�. A
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A 212011.TA69 Evd Pr rojsda.. ,•:knPm5!nn611n0sa0uc0ea JN2mi Wf2rp5 LaMrn9 Urmn PsAt9a,Im Rent naps NV
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Grand Terrace Recognized Obligation Payment Schedule(ROPS 18-19)-Report of Cash Balances
�` 'f July 1,2016 through June 30,2017
(Report Amounts in Whole Dollars)
Pursuant to Health and Safety Code section 34177(I),Redevelopment Property Tax Trust Fund(RPTTF)may be listed as a source of payment on the ROPS,but only to the extent no other funding source is available
ui whuiu Payment f,Onr NrOPCrty tan ievunnuro a 1 eyuir u.1 by an cnfuru.., n Obivt,Od Fr. ;Nnwtuuto wnrplctu tin:RcpOr I.of Cash Ralanuv,Fui m,Scc w�r.QJai7GS Tlps:,Ir....l
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A B C D E F G H I N
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Fund Sources O
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Bond Proceeds Reserve Balance Other RPTTF Si
Prior MOPS -o
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period balances Prior ROPS 'e
and RPTTF
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Bonds issued on Bonds issued on DDR RPTTF distributed as Rent, Non-Admin E
Cash Balance Information for ROPS 16-17 Actuate or before or after balances reserve for future grants, and E,
(07/01/16-06/30/17) 12/31/10 01/01/11 retained period(s) interest,etc. Admin Comments i
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1• Begheduy Available Cash Balance(Actual 07/01/16) co
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19,689,194 N
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2 Revenue/Income(Actual 06/30/17) o
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RPTTF amounts should tie to the ROPS 16-17 total distribution from the
_,) County Auditor-Controller during June 2016 and January 2017 4
ja
2,215,046 at
3 Expenditures for ROPS 16-17 Enforceable Obligations(Actual 4
06/30/17) `o
2,146,632 Nu
4 Retention of Available Cash Balance(Actual 06/30/16) u)
RPTTF amount retained should only include the amounts distributed as a,
reserve for future period(s) `-
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5 ROPS 16-17 RPTTF Balances Remaining p.
re
ail. No entry required
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6 Ending Actual Available Cash Balance(06/30/16) v
CtoG=(1+2-3-4),H=(1+2-3-4+5)
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- $ - $ 19,689,194 $ $ - $ $ 68,414 E
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' 91 Tmo.on Sumaemr A9omy PmpmT Maintenance. 1/12013 0202011 San Bornwdro AWlhr 'Property Tax an Su00a421V24.3 N 5 5 J,
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1/17/2018
.. ;
:s '' 'Oversight Board
„ to the. . ' ' ' , .
is i,c .?•^w„+ '-0f "
., ,; sx:.. r Su,ccessor.Agen=cy , ,,
" -• . ' ' ',to the + „.
'- :: a
Y 1 Commu , ity�Redevelopment Agency
1
(�l! k\l t .: R.T/ " .: ,.
I/`(J'b� eh,µ _ X (i W A�. J;h ,,,
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1% January , 2018'
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# , oPs 2018-19
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1/17/2018
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ABx 126 and AB1484
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, Redevelopment dissolution
t` y, requiredAgencies Successor A encies to
'S-41
submit Recognized Obligation
`t Payment Schedules (ROPs) to
their Oversight Boards and the
Department of finance (DOF).
4 ABx126andAB1484
,.. _,
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0 - The ROPS detailed all the
7 expenditures (obligations) the
* y� '' Successor Agency needed to
} g Y
/ pay.
These included:
• Tax Allocation Bonds (TABs)
, debt service payments;
off, :.
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2
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4 ABx 126 and AB1484
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• PayPayments to the San
•I ' '` Bernardino Valley Municipal
ii f
, it �� Water District (SBVMWD);
\( '' • Bond and Audit required
, ' reporting;
• Landscape and irrigation
services to Successor Agency
• owned property.
Aii ,1111.
Submitted to the
..,
le, ,
-4 -
( Ir Dept. of Finance
4 /
(DOF)
s,
\ '-'1 ; 1. Last and Final ROPs; and
' ' pA- 2. Revised Bond Expenditure
Agreement between the City
& the Successor Agency.
4 41T}
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1/17/2018
ANL low
1411)
0 ` 4 Revised Bond
., , ... 4 t 1
xpenditure Agreement
fi
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et,_,. ..;,. _:;� 1. A requirement for the
tti
t\ ,. approval of the revised bond
I 5 '.
- \,L', expenditure agreement is an
approved Last & Final ROPs;
2. The Agency's Last & Final
�-"'` ROPs is still under review.
0%
4
. __ L, - ast & Final ROPs
( , \ ,
0' /,,,„
h. ‘
. .
4 . i The DOF proposed several
; 'l : revisions to the Last & Final
',f )1 ROPs which included the use of
bond proceeds to pay for the
annual debt service.
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1/17/2018
AL mow
i Last & Final ROPs
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x Bond Proceeds balance:
0. - ',
1 $19,689,194
:\l'.A,- € • DOF proposed use of proceeds to
pay for debt service:
47,-;- $15,653,769
} 4 Last & Final ROPs
( :/.:,
Staff will return to the Successor
1, i
-i Agency to provide additional
)� g Y
"� detail, issues and alternatives
. re ardin the Last & Final ROPs
`= g g
so that the Agency Board can
make an informed decision.
4Vr
5
ns to the Last & Final
',f )1 ROPs which included the use of
bond proceeds to pay for the
annual debt service.
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1/17/2018
t , t , . 1 t
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(4 4'' .r '441 d
S P 2018-19
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'\, -
....._...
144 a 1 1.400,
4 Last & Final ROPs
-. Until the Agency's Last & Final
ROPs is approved, the Agency will
,..''le ' continue to submit annual ROPS
NtZ`'? , to ensure that the Agency's
`; t enforceable obligations receive the
appropriate Redevelopment
Property Tax Trust Fund
(RPTTF) funding.
6
4
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1/17/2018
. ROPS 2018=1 , n,
ROPS ROPS
Description TOTAL
= 18-19A 18.19B
Administrative Allowance 20;1301 20,1301 • 40,260
Non-administrative RPTTF:. , _ t r ^011
Bond Principal&Interest-2A ;, 721,723 384,958 1,106,681
Bond Principal&Interest_-2011B i' 488,455 141,563' "630,018'
Trustee-Fees' ' 0 2,700, �2,700
San Bernardino Valley Municipal Water 0'? 233;438!' 233,438'
District(SBCMWD)Debt Service, .,
Agreement Payment
Z.
'Prof.Svcs_ -Weed Abatement --L 0 i .790' - - 790
^ pliance Reporting j 0 • 1,300 1,300 SEC•Bond Com
Annual Audit,&Reporting,Svcs 0 5,000 5,000
Supplemental Education;Revenue 7,74 0, 50,000 50,000
Augmentation Fund(SERAF)Loan, I,
paid to the Housing'SuccessorAgency, r ' .1
TOTAL ROPS 2018-19I 61,230,308I $839,879 j „ 52,070,187
' ,,: � ,� 'ff'Rec. ommendations
1. Adopt the Successor Agency's-Recognized ,
Obligation Payment Schedule:(ROPS) '18-19 in .`
the amount of$2;070,187:'
•
,2. Adopt,Resolution No.. 2018-xx, a'resolution.of, .1.
the. City of'Grand Terrace'as•Successor Agency
.`to,the Community Redevelopment Agency of the
City of Grand: Terrace approving,.a' Recognized
Obligation: Payment Schedule covering the
period, July 1, 2018'to 'J'une 30; 20.19 (ROPS•18-
19) as required by Health and Safety.Code
'Section 3417'7.
7
come(Actual 06/30/17) o
1---''
RPTTF amounts should tie to the ROPS 16-17 total distribution from the
_,) County Auditor-Controller during June 2016 and January 2017 4
ja
2,215,046 at
3 Expenditures for ROPS 16-17 Enforceable Obligations(Actual 4
06/30/17) `o
2,146,632 Nu
4 Retention of Available Cash Balance(Actual 06/30/16) u)
RPTTF amount retained should only include the amounts distributed as a,
reserve for future period(s) `-
N
a.
5 ROPS 16-17 RPTTF Balances Remaining p.
re
ail. No entry required
m
F
6 Ending Actual Available Cash Balance(06/30/16) v
CtoG=(1+2-3-4),H=(1+2-3-4+5)
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4 Last & Final ROPs
-. Until the Agency's Last & Final
ROPs is approved, the Agency will
,..''le ' continue to submit annual ROPS
NtZ`'? , to ensure that the Agency's
`; t enforceable obligations receive the
appropriate Redevelopment
Property Tax Trust Fund
(RPTTF) funding.
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