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Home My WebLink AboutPCDSA Resolution 2016-01 01/26/2016Resolution No. 2016-01 of the Petaluma Community Development Successor Agency A RESOLUTION OF THE PETALUMA COMMUNITY DEVELOPMENT SUCCESSOR AGENCY ADOPTING A JULY 1, 2016 - JUNE 30, 2017 RECOGNIZED OBLIGATION PAYMENT SCHEDULE (`BOPS 16-17") AND ADMINISTRATIVE BUDGET PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177 (1) WHEREAS, the City of Petaluma (City) resolved to act as the Petaluma Community Development Commission Successor Agency (PCDSA or Successor Agency) to, and assumed all rights and obligations of, the former Petaluma Community Development Commission (PCDC), by Resolution No. 2012-03; and WHEREAS, the City Council established the PCDSA as an independent public entity pursuant to Health and Safety Code Section 34173(g), on August 6, 2012, by Resolution No. 2012-118 N.C.S.; and WHEREAS, the liability of the PCDSA is limited pursuant to Health and Safety Code Section 34173(e) and other applicable law; and WHEREAS, the PCDSA was required to adopt a six month enforceable obligation payment schedule referred to as the Recognized Obligation Payment Schedule (ROPS), and an administrative budget, which it has done for each of the initial six-month periods of the newly formed PCDSA; and WHEREAS, newly adopted legislation requires a yearlong period for the ROPS; and WHEREAS, the ROPS 16-17 and administrative budget, covering the period from July 1, 2016 - June 30, 2017, are due to the State Department of Finance (DOF) by February 1, 2016; and WHEREAS, the Oversight Board for the PCDSA must review and approve the ROPS 16-17 and administrative budget prior to their submission to DOF; and WHEREAS, in adopting ROPS 16-17, the PCDSA will comply with all applicable posting and notification requirements, including posting the ROPS 16-17 on the Successor Agency's website and providing a copy thereof to the Oversight Board for the PCDSA, the County Administrative Officer, the Department of Finance, and the Sonoma County Auditor - Controller; and WHEREAS, a draft ROPS 16-17 and administrative budget for the period July 1, 2016 - June 30, 2017, a copy of which is attached as Exhibit A & B, has been presented to the PCDSA, the PCDSA is familiar with the contents thereof, and the Executive Director has recommended approval of the same, subject to the contingencies and reservation of rights set forth in this Resolution; and PCDSA Resolution No. 2016-01 Page 1 WHEREAS, the PCDSA reserves the right to challenge the legality of Assembly Bill x1 26, AB 1484 and/or any implementing regulations, and to rescind its acceptance of Successor Agency rights and obligations, and reserves any and all rights concerning Assembly Bill x1 26 and AB 1484 pursuant to applicable law; and WHEREAS, the PCDSA reserves the right to further amend the ROPS 16-17 and administrative budget; and WHEREAS, in adopting the ROPS 16-17 and administrative budget, the PCDSA does not intend to waive, nor shall the PCDSA be deemed to have waived, any rights the PCDSA may have pursuant to or in connection with any obligation listed on the ROPS 16-17 and administrative budget, including without limitation, the right to modify, amend, terminate or challenge any obligation listed on the BOPS 16-17 or the administrative budget. NOW, THEREFORE, BE IT RESOLVED BY THE PETALUMA COMMUNITY DEVELOPMENT SUCCESSOR AGENCY PURSUANT TO HEALTH AND SAFETY CODE 34171(1), that the Petaluma Community Development Successor Agency hereby: 1. Finds that the Recitals set forth above are true and correct, and are incorporated herein by reference. 2. Approves the Recognized Obligation Payment Schedule for the July 1, 2016 - June 30, 2017 (ROPS 16-17) and the administrative budget, attached hereto as Exhibit A & B, pursuant to Health and Safety Code section 34177(1), subject to all reservations of rights and contingencies set forth above. 3. Authorizes and directs the Executive Director or his designee to take all actions necessary to implement this Resolution, including without limitation, the submission of the draft ROPS 16-17 simultaneously to the Oversight Board for the PCDSA, the Sonoma County Administrative Officer, the Sonoma County Auditor - Controller, and the State Department of Finance; and the posting of this Resolution and the Recognized Obligation Payment Schedule 16-17 on the Successor Agency's website. 4. Declares that if any provision, sentence, clause, section, or part of this Resolution is found to be unconstitutional, illegal or invalid, such finding shall affect only such provision, sentence, clause, section or part, and shall not affect or impair any of the remainder. REFERENCE: I hereby certify the foregoing Resolution was introduced and adopted by the Petaluma Community Development Successor Agency at a Regular Meeting on the 25Lh of January, 2016, by the following vote: AYES: Albertson, Barrett, Healy, Kearney, King, Miller NOES: None ABSENT: Glass ABSTAIN: None ATTEST: Recording Secretary g Vice Chair ALP rove s to for General Counsel PCDSA Resolution No. 2016-01 Page 2 Recognized Obligation Payment Schedule (ROPS 16-17) - Summary Filed for the July 1, 2016 through June 30, 2017 Period Successor Agency: Petaluma County: Sonoma ROPS 16-17 Current Period Requested Funding for Enforceable Obligations (ROPS Detail) 16-17A Total 16-17B Total Total Enforceable Obligations Funded with Non -Redevelopment Property Tax Trust Fund (RPTTF) Funding A Sources (B+C+D): $ 5,884,349 $ - $ 5 884 349 B Bond Proceeds Funding C Reserve Balance Funding D Other Funding E Enforceable Obligations Funded with RPTTF Funding (F+G): F Non -Administrative Costs G Administrative Costs H Current Period Enforceable Obligations (A+E): Certification of Oversight Board Chairman: Pursuant to Section 34177 (o) of the Health and Safety code, I hereby certify that the above is a true and accurate Recognized Obligation Payment Schedule for the above named successor agency. /s/ 5,884,349 - , 5,884,349 $ 125,000 $ 5,573,495 $ 5,698,495 - 5,448,495 5,448,495 125,000 125,000 250,000 $ 6,009,349 $ 5,573,495 $ 11,582,844 Name Title Signature Date Exhibit A PCDSA Resolution No. 2016-01 Page 3 PCDSA Resolution No. 2016-01 Page 4 Petaluma Recognized Obligation Payment Schedule (ROPS 16-17) - ROPS Detail July 1, 2016 through June 30, 2017 fRennrt Amnuntw in Whnle nnllarsl A B C D E F G H I J K L M N O p q R S T U V W Item # Project Name/Debt Obligation Obligation Type Contract/Agreement Execution Date Contract/Agreement Termination Date Payee Description/Project Scope Project Area Total Outstanding Debt or Obligation Retired ROPS 16-17 Total 16-17A Non -Redevelopment Property Tar Trust Fund Non -RP Bond Proceeds Reserve Balance other Funds RPTTF Non -Admin Admin 16.17A Total 16-17B Non -Redevelopment Property Tax Trust Fund Non-RPTTF) on Proceeds Reserve Balance Other Funds RPTTF 16-176 Non -Admin Admin Total 50 January 31, 2011 Cooperative Agreement by and between the Petaluma Community Development Commission and the City of Petaluma as to Item 3 on Exhibit A, the'101/East Washington Interchange Project' Reentered Agreements 4/25/2012 6/18/2047 City of Petaluma January 31, 2011 Cooperative Agreement by and between the Petaluma Community Development Commission and the City of Petaluma PCDC Merged - N $ - $ _ $ 51 January 31, 2011 Coop Agreement by and between the Petaluma Community Development Commission and the City of Petaluma as to Item 5 on Fx A, "Rainer Avenue Cross-town Connectorflnterchange Prof." Reentered Agreements 4/25/2012 6/18/2047 City of Petaluma January 31, 2011 Cooperative Agreement by and between the Petaluma community Development Commission and the City of Petaluma PCDC Merged 5,568,573 N $ 640,117 640,117 $ 640,117 $ -' 52 January 31, 2011 Coop Agreement by and between the Petaluma Community Development Commission and the City of Petaluma as to Item 1 on Ex. C, 'Staffing and Adminitrative 6 penes Reentered Agreements 4/25/2012 6/18/2047 _ City of Petaluma January 31, 2011 Cooperative Agreement by and between the Petaluma Community Development Commission and the City of Petaluma PCDC Merged 1,806,787 N $ 658,787 658,787 $ 658,787 $ 53 N $ - $- $ 664 N $ $- 55 N $ _ $ 56 N $ - $ S $ - 57 N $ - $ 58 N $ - $ - "'i$ 59 N $ $$ 60 N $ $ $ , 611 N $ $ $ 62 N $ - $ _ ,$ 63 64 N $ - $ $ 65 N $ - $ $ - 66 N $ $ $ 67 N $ - $ :$ 68 N $ - $ - '$ 69 N $ _ $ 70,N $ - $ '..$ 71 N $ $ $ 72 N $ - $ - $ - 73 N $ _ $ $ 74 N $ - $- $ 75 - N $ - $ _ .$. 76 N $ - $ .,:.$ - 77 N $ - $ - -$ 79 N $ - $ $ 80 N $ - 5 $ _ 81 if N 1 $ - $ - ;.-$ 8 N 1 $ $ '.,$ 83 N $ - $ - '$ 84 85 _ __.... N N $ _ $ - $ S - _ :$ - t, PCDSA Resolution No. 2016-01 Page S Petaluma Recognized Obligation Payment Schedule (ROPS 16-17) - Report of Cash Balances (Report Amounts in Whole Dollarsl Pursuant to Health and Safety Code section 34177 (1), 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 or when payment from property tax revenues is required by an enforceable obligation. For tips on how to complete the Report of Cash Balances Form, see CASH BALANCE TIPS SHEET A B C D E I F G H I Fund Sources Bond Proceeds Reserve Balance Other RPTTF Prior ROPS Prior ROPS period balances RPTTF Bonds issued on and DDR RPTTF distributed as Rent, Non -Admin or before Bonds issued on balances reserve for future grants, and Cash Balance Information by ROPS Period 1 12/31/10 or after 01/01/11 retained period(s) interest, etc. Admin Comments ROPS 15-16A Actuals 07/01/15 -12131/15 1 Beginning Available Cash Balance (Actual 07/01/15) 203,160 11,171,039 13,371 2 Revenue/Income (Actual 12/31/15) RPTTF amounts should tie to the ROPS 15-16A distribution from the County Auditor -Controller during June 2015 72 1 2,002,514 3 Expenditures for ROPS 15-16A Enforceable Obligations (Actual 12131/15) - 1,974,282 4 Retention of Available Cash Balance (Actual 12/31/15) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 5 ROPS 15-16A RPTTF Balances Remaining No entry required 6 Ending Actual Available Cash Balance CtoG=(1+2-3-4),H=(1+2-3-4-5) $ 203,232 $ 11171 $ $ T,040 $ 41,603 ROPS 15-16B Estimate 01/01/16 - 06/30/16 7 Beginning Available Cash Balance (Actual 01/01/16) (C, D, E, G=4+6, F = H4 + F4 + F6, and H=5+ 6) $ 203,232 $ 11,171 040 $ $ $ - $ 41,603 8 Revenue/Income (Estimate 06/30/16) RPTTF amounts should tie to the ROPS 15-16B distribution from the County Auditor -Controller during January 2016 5,560,097 9 Expenditures for ROPS 15-16B Enforceable Obligations (Estimate 06/30/16) 3,525,648 10 Retention of Available Cash Balance (Estimate 06/30/16) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 2,077,229 11 Ending Estimated Available Cash Balance (7 + 8 - 9 -10) $ 203,232 $ 11 171,040 $ $ $ - $ 1 177 PCDSA Resolution No. 2016-01 Page 6 Petaluma Recognized Obligation Payment Schedule (ROPS 16-17) - Notes July 1, 2016 through June 30, 2017 Item # Notes/Comments PCDSA Resolution No. 2016-01 Page 7 PETALUMA COMMUNITY DEVELOPMENT SUCCESSOR AGENCY Administrative Budget FY 2016-2017 ROPS 16-17 Admin charges (wages, etc) Professional Service/Audit Utilities/Maintenance/Repairs Legal Services Office Supplies Cell Phone Office Rent Bank/Trustee fees/Financial oversight FY 16-17A FY 16-17B $ 95,290 $ 95,290 8,000 8,000 4,000 4,000 5,000 5,000 250 250 460 460 3,000 3,000 9,000 9,000 Exhibit B Total for Year $ 125,000 $ 125,000 $ 250,000 PCDSA Resolution No. 2016-01 Page 8