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Home My WebLink AboutStaff Report 3.A 02/22/2017Item # 3A Oversight Board to the Petaluma Community Development Commission Successor Agency DATE: February 22, 2017 TO: Members of the Oversight Board FROM: Ingrid Alverde, Economic Development & Redevelopment Manager SUBJECT: Resolution Approving the Use of Successor Agency Funds to Pay for State Highway Projects, including the Rainier Cross Town Connector, in accordance with the 2nd Amendment to the Cooperative Agreement between the City of Petaluma and the Sonoma County Transportation Authority, and as identified on the 2017-2018 Recognized Obligation Payment Schedule RECOMMENDATION It is recommended that the Oversight Board to the Petaluma Community Development Successor Agency ("Oversight Board") adopt a Resolution Approving the Use of Successor Agency Funds to Pay for State Highway Projects, including the Rainier Cross Town Connector, in accordance with the 2nd Amendment to the Cooperative Agreement between the City of Petaluma and the Sonoma County Transportation Authority, and as identified on the 2017-2018 Recognized Obligation Payment Schedule. DISCUSSION The former Petaluma Community Development Commission ("PCDC") issued bonds to pay for certain State highway projects, including an interchange at the 101 freeway and the future Rainier cross town connector. In 2011, the City of Petaluma entered into a Cooperative Agreement (the "City-SCTA Coop Agreement") with the Sonoma County Transportation Authority ("SCTA") that addresses SCTA's obligation to construct the improvements, and the City's obligation to provide funds committed for such purposes by PCDC. The City of Petaluma and PCDC entered into a Cooperative Agreement (the "City-PCDC Coop Agreement") to document and implement PCDC's obligation to provide funds for these projects. The expenditure of funds for State highway projects pursuant to the City-PCDC Coop Agreement was approved by the State Department of Finance (DOF) as an enforceable obligation of the Petaluma Community Development Successor Agency. The City and SCTA entered into a 2nd Amendment to the City-SCTA Coop Agreement that describes the remaining balance of the funding obligation and the schedule for completion of the improvements. The 2017-18 ROPS that the Oversight Board previously approved includes a request for funds to pay for a portion of these improvements. Item #3A Page 2 The Department of Finance (DOF) has requested that in addition to approving the expenditure of funds on the RC}PS, the Oversight Board should also review and approve the expenditures and conditions for completion of the improvements outlined in the 2 nd SCTA Coop Agreement. If approved by the Oversight Board and the DC]F, bond proceeds currently held in trust would be advanced to SCTAto pay for costs associated with the improvements. The current ROPS (R{]PSl7-I8) identifies the funding request of$4.7million online 51. The amount requested is the remaining balance ofthe bonds issued byPCDCin2O2I. ATTACHMENTS l. Resolution Approving the Use ofSuccessor Agency Funds toPay for State Highway Projects, including the Rainier Cross Town Connector, in accordance with the 2 nd Amendment to the Cooperative Agreement between the City of Petaluma and the Sonoma County Transportation Authority, and as identified on the 20I7-2028 Recognized Obligation Payment Schedule 2. Recognized Obligation Payment Schedule 17-18 Attachment 1 RESOLUTION NO. 2017 - RESOLUTION OF THE OVERSIGHT BOARD OF THE PETALUMA COMMUNITY DEVELOPMENT SUCCESSOR AGENCY APPROVING THE USE OF SUCCESSOR AGENCY FUNDS TO PAY FOR STATE HIGHWAY PROJECTS, INCLUDING THE RAINIER CROSS TOWN CONNECTOR, IN ACCORDANCE WITH THE 2ND AMENDMENT TO THE COOPERATIVE AGREEMENT BETWEEN THE CITY OF PETALUMA AND THE SONOMA COUNTY TRANSPORTATION AUTHORITY, AND AS IDENTIFIED ON THE 2017-2018 RECOGNIZED OBLIGATION PAYMENT SCHEDULE WHEREAS, pursuant to authority granted under Community Redevelopment Law (California Health and Safety Code Section 33000 et seq.) ("CRL"), the former Petaluma Community Development Commission ("PCDC") had responsibility to implement the Redevelopment Plans for the Petaluma Community Development project area and the Central Business District project area; and WHEREAS, pursuant to Resolution No. 2012-007 N.C.S., adopted by the City Council on January 9, 2012, the City of Petaluma ("City") agreed to serve as the Successor Agency to the Petaluma Community Development Commission ("Successor Agency") commencing upon dissolution of PCDC on February 1, 2012 pursuant to Assembly Bill x 26 ("AB 26"); and WHEREAS, PCDC issued bonds to pay for certain State highway projects, including an interchange at the 101 freeway and the future Rainier cross town connector; and WHEREAS, the City entered into a Cooperative Agreement (the "City-SCTA Coop Agreement") with the Sonoma County Transportation Authority ("SCTA") that addresses SCTA's obligation to construct the State highway projects, and the City's obligation to provide funds committed for such purposes by PCDC; and WHEREAS, the City and PCDC entered into a Cooperative Agreement (the "City- PCDC Coop Agreement") to document and implement PCDC's obligation to provide funds for the State highway projects; and WHEREAS, the expenditure of funds for State highway projects pursuant to the City- PCDC Coop Agreement was approved by the State Department of Finance (DOF) as an enforceable obligation of the Successor Agency; and WHEREAS, the City and SCTA entered into a 2na Amendment to the City-SCTA Coop Agreement that describes the remaining balance of the PCDC/Successor Agency funding obligation and the schedule for completion of the improvements; and WHEREAS, the 2017-18 Recognized Obligation Payment Schedule (`ROPS") that the Oversight Board previously approved includes a request for funds to pay for a portion of the State highway projects; and OAK #4814-7703-2259 v1 1 WHEREAS, the State Department of Finance has requested that in addition to approving the expenditure of funds on the ROPS, the Oversight Board should also review and approve the expenditures and conditions for completion of the improvements outlined in the 2nd Amendment to the City-SCTA Coop Agreement. NOW, THEREFORE, BE IT RESOLVED by the Oversight Board of the Petaluma Community Development Successor Agency as follows: 1. The facts stated in the foregoing Recitals are hereby acknowledged and affirmed. 2. The Oversight Board hereby approves the use of Successor Agency funds to pay for State highway projects, including the Rainier Cross Town Connector, in accordance with the 2nd Amendment to the Cooperative Agreement between the City of Petaluma and the Sonoma County Transportation Authority, and as identified on the 2017-2018 Recognized Obligation Payment Schedule. 3. The Executive Director and his designees are authorized to take such further actions as may be necessary to carry out the intent of this Resolution. PASSED AND ADOPTED by the Oversight Board of the Petaluma Community Development Successor Agency by the following vote: 0"I OAK #4814-7703-2259 v1 2 Attachment 2 Recognized Obligation Payment Schedule (ROPS 17-18) - Summary Filed for the July 1, 2017 through June 30, 2018 Period Successor Agency: Petaluma County: Sonoma 17-18A Total 17-18B Total Current Period Requested Funding for Enforceable Obligations (ROPS Detail) (July - December) (January - June) ROPS 17-18 Total A Enforceable Obligations Funded as Follows (B+C+D): $ 4,700,000 $ - $ 4,700,000 B Bond Proceeds 4,700,000 - 4,700,000 C Reserve Balance - - - D Other Funds - - - E Redevelopment Property Tax Trust Fund (RPTTF) (F+G): $ 125,000 $ 5,606,429 $ 5,731,429 F RPTTF - 5,481,429 5,481,429 G Administrative RPTTF 125,000 125,000 250,000 H Current Period Enforceable Obligations (A+E): $ 4,825,000 $ 5,606,429 $ 10,431,429 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 Name Title Obligation Payment Schedule for the above named successor !s/ agency. Signature Date A B C D E F Contract/Agreement Contract/Agreement Compliance Item # Project Name/Debt Obligation Obligation Type Execution Date Termination Date Payee 2 TAB -2003A Tax Allocation Bonds - Bonds Issued On or Before 10/2003 5/1/2033 U.S. Bank 3 TAB -2005A Tax Allocation Bonds - Bonds Issued On or Before lOY112005 5/1/2030 U.S. Bank REFINANCED 12/31/10 4 TAB -2007A Tax Allocation Bonds Bonds Issued On or Before 4/1/2007 5/1/2039 U S. Bank 12/31/10 G H I i K L 5 TAB -201 1 Tax Allocation Bonds Bonds Issued After 12/31/10 3/15/2011 5/1/2024 US Bank 61PIVI-Regolatory Agreement Petaluma Recognized Obligation Payment Schedule (ROPS 17-18) - ROPS Detail 7/1/2011 511/2039 S Housing Agency Project Management and IN July 1, 2017 through June 30, 2018 Compliance Administration (Repot Amounts in Whole Dollars) 7 PIVI-Financial Administration Admin Costs 9/1/2004 5/1i2039 City of Petaluma Fiscal oversight on bonds and Trustee N 1 $ 1 1 1 $ Fees and Admin 8 PM-Constr. Project Management G H I i K L N IN 0 P R T U 11 9 HSP -COTS -HUD Grand Agreement 17-18A (July - December) 7rJ=003 WIM23 Committee on the Compliance of third party contract 17-18B (January - June) Fund Sources Fund Sources Total Outstanding 10 HSC_00TS-HUD Loan 17-18A 7/1/2003 711/2023 Committee on the Cornpil of third party contract 17-18B Description/Project Scope Project Area Debt or Obligation Retired ROPS 17-18 Total Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Total Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Total $ 8,472,000 $ 10,431,429 $ 4,700,000 $ - $ - $ $ 125,000 $ 4,825,000 $ - $ $ 5,481,429 $ 125,000 $ 5,606,4291 Bonds issued to fund non-houstna N $ - $ - $ -1 Bonds issued to fund non-houstng N $ $ N $ $ - projects 12 HSG -Mobile Home Rent Control 1/31/2011 I Ord. Bonds issued to fund non -housing N $ 1,596,612 $ 596,612 $ 11,596,6112� projects 6/18/2047 Petaluma People Services Cooperative Agreement I Bonds issued to fund non -housing N $ 1,194,768 $ Cr 94,768 $ 1,194,768 .mi-fi, 14 HSG-Ttgntiffl9nal Housing Miscellaneous 1131L?Ql 1 611&2047 Salvation Army Cooperative Agoparrent N 61PIVI-Regolatory Agreement Project Management Costs 7/1/2011 511/2039 S Housing Agency Project Management and IN Compliance Administration 7 PIVI-Financial Administration Admin Costs 9/1/2004 5/1i2039 City of Petaluma Fiscal oversight on bonds and Trustee N 1 $ 1 1 1 $ Fees and Admin 8 PM-Constr. Project Management Project Management Costa 711/2011 .1 .1 Sti/2039 City of Petaluma "act Management of Construction N contracts 9 HSP -COTS -HUD Grand Agreement Miscellaneous 7rJ=003 WIM23 Committee on the Compliance of third party contract Shelterless 10 HSC_00TS-HUD Loan Miscellaneous 7/1/2003 711/2023 Committee on the Cornpil of third party contract I Shelterless I I H$G-COTS- HCD Loan-Resirictive Misceilaneous 3/112004 3111204 Committee on the Compliance of third party contract N CqY I Miscellaneous I Shelterless 6/18/2047 Sonoma County CDC Eooperative Agreement N $ $ $ 12 HSG -Mobile Home Rent Control 1/31/2011 I Ord. 13 HSG -Rental Assistance Miscellaneous 1/3112011 6/18/2047 Petaluma People Services Cooperative Agreement N Cr 14 HSG-Ttgntiffl9nal Housing Miscellaneous 1131L?Ql 1 611&2047 Salvation Army Cooperative Agoparrent N 15 HSG-Tratasillonal Housing Miscellaneous 1113112011 6111L/22j7 COTS CooperoveAgreement N 16 HSG-Rahab, single family homes Ir 113112011 6/1812047 Relaulldll� _eft, Coo am ment op 17 CIP-Old Redwood Hwy Inat e 6127/?003 5/7/2010 G__ __I- R, � p� 12131rZ012 Deal" 6/30/iO16 Sonoma Co. Trans Agency Matching funds for construction F N N $ $ $ C 18 P -Old Redwood Hwy Interchange Improvement/Infrastructure 1 9 C�P-Rainier Ave Cross -Town Improvement/Infrastructure 5/10/2010 12/31/2012 URS Corp. Environmental N $ $ $ Connector 20 CIP-Rainier Ave Cross -Town Jmprovement4nfrostructure 4114/2010 1213112012 Metropolitan Planning Group Flaming IN Connector 21 CIP-Ptainler Ave Ctoss-Town Improvementrnfastructurs 6115/2011 61=2025 Sonoma Co. Trans. Agency Local Matching Funds N Connector CIP-Petaluma River Trail Improvementilnorastructure 11)(1012007 12131=12 CSW/Stuber-Stmh Design N 23 CIP-Petalurra River Trail limprovementlInfratrtructure 111012008 12J,11/2009 Geoff Hornsby Right of way services N 24 CIP-Petaluma River Trail Improvergani/Infrastructure 51112006 9/30/2013 Sonoma Co. Trans, Agency Construction of Phase If N 25 CIP-East Washington Interchange ImprovemerritIntrastructure 5012000 1213112015 URS Corp, Design N 26 CIP-EastWashington Interchange Improvement/Infrastrucildre 3/1612007 12134/2011 Assoc, Right of Way Service Right of way 6/30/2014 Sonoma Co. Trans Agency ROW Capital, ROW Support, Constr I N 171 CIP-East Washington Interchange Improvement/Infrastructure 6/3/2009 $ Support J 291CIP-Undergrowd Tank Reme"on Inrivrovement(Infrostructure 911/2009 12/31/2015 City of Potaturna I Project Management N I 30 CIP-Brownfleds Program Impircivermerittinfrastructwe 10/2612009 10/3112013 U.S.Environ.Protection 1project Management A N 31 MISC-Office Equipment Lease 3/1/2011 _Spricy 12/28/2016 Discovery Systems Office equipment N $ $ Adjoin Costs $ 32 MISC-Lecial Services Aching Costs 7/1/2011 5/1/2039 Meyers Nave Attorneys Legal Services N $ $ $ 35 MISC-Legal Services -Oversight Aching Costs 7/11/2012 6/30/2013 Range Sloan Holb,man Oversight Board legal services N $ $ $ Board Sakai �6/30/2013 36 MISC-DOF Due Diligence Review Dissolution Audits 8/15/2012 Pun & McGeady Audit services for Oversight Bo N $ $ $ 37iMISC-Perbijurna Marina 11viscenarecus 11112311987 15/112039 State of Calffornia Low Repayment 381MISC-Econ. Dev./Site Development ICItylCountly Loans On or 1 1131=11 611812047 City of Petaluma Cooperative Agreement I Before W27111 39 N/A Admin Costs 1/1/2016 6/30/2016 Petaluma Community Administrative Costs N $ 250 66o 125,000 $ 125,000 125,000 $ 125,000 Development Successor Agency 40 LITIGATION - Old Redwood & Litigation 8/29/1994 6/30/2016 Meyers Nave Attorneys Legal Services for Litigation with DOE N $ $ - $ -1 Rainier 41 LITIGATION - Old Redwood, Litigation 4/29/2014 6/30/2016 Burke Williams & Sorensen Legal Services for Litigation with DOE N $ $ $ -1 Rainier. Co -Op Agreement 42 Cash Flow Loan from City City/County Loans After 10/1/2014 6/30/2016 City of Petaluma Cash Flow loan to cover expenses N $ $ $ - 6/27/11 431CIP-East Washini Interchangi — 2gVI I a OR1121111 Paclfi� Gas & Eteptria .Vg f�r -East Washington Intercha Htem. _ nfrastructure If =11 IAT&T ahrg�44 CP 4,91��', U'l Is 45 d proceeds Bond Expenditure Agreement Bonds Issued On or Before 6/11/2015 6/30/2016 City of Petaluma Expenditure of bon N S $ $ 12Y31/10 according to bond indentures 461TAB-2015A Tax Allocation Bonds Bonds Issued After 12/31/10 3/1/2015 5/1/2033 U. S. Bank Bonds issued to fund non-houstng N $ 1,327,905 $ 1,327,9051 $ 1,327,906 I project 471TAB-2015B Tax Allocation Bonds Bonds Issued After 12/31/10 3/1/2015 5/1/2033 U S. Bank Bonds issued to fund non -housing N $ 1,362,144 $ 1,362,1441 $ 1,362,14 projects 48 Cooperative Agreements - Exhibit Reentered Agreements 412512012 611812047 City at Petaluma Cooperative Agreement as reinstated IN A/Section:8 - Economic Dev. by Resolution of the Oversight Board Programs; Exhibit 8fSection 3 - #2012-03 adopted April 25� 2012 Affordable Hsg programs as reinstated by Resolution #2012-03 of "Os 4V January 51, ZU1 I uooperattve I rn provern enti I mrastructu re 4/Z*/ZU1Z b/1 b/ZU41 Uity or i-etaluma January 61 � ZU1 I U00perative N 4� Agreement by and between the Agreement by and between the Petaluma Com m unity Development Petaluma Community Development commission and the City of Commission and the City of Petaluma Petaluma, as to Item 1 on Exhibit A, the ' Old Redwood Highway Interchange Project,' 41 - Z, Petaluma Recognized Obligation Payment Schedule (BOPS 17-18) - ROPS Detail July 1, 2017 through June 30, 2018 (Repo t Amounts in Whole Doll-irs) A B C D E F G H 1 J K l M N O P O R S T U V 17-18A (July - December) 17-18B (January - June) Fund Sources -und Source Contract/Agreement Contract/Agreement Total Outstanding 17-18A 17-18B Item # Project Name/Debt Obligation Obligation Type Execution Date Termination Date Payee Description/Protect Scope Project Area Debt or Obligation Retired ROPS 17-18 Total Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Total Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Total 50 January 31, 2011 Cooperative Improvementilnfrastructure 4/25/2012 6/18/2047 City of Petaluma January 31. 2011 Cooperative N $ - $ - $ - Agreement by and between the Agreement by and between the Petaluma Community Development Petaluma Community Development Commission and the City of Commission and the City of Petaluma Petaluma as to Item 3 on Exhibit A, the "101 /East Washington Interchange Project,' 51 January 31, 2011 Coop Agreement Improvement/Infrastructure 4/25/2012 6/18/2047 City of Petaluma January 31. 2011 Cooperative PCDC Merged 8,472,000 N $ 4,700,000 4,700,000 $ 4,700,000 $ by and between the Petaluma Agreement by and between the Community Development Petaluma Community Development Commission and the City of Commission and the City of Petaluma Petaluma as to Item 5 on Ex. A, 'Rainer Avenue Cross-town Connector/Interchange Prot:' 52 January 31, 2011 Coop Agreement Protect Management Costs 4/25/2012 6/18/2047 City of Petaluma January 31. 2011 Cooperative N $ - $ - $ by and between the Petaluma Agreement by and between the Community Development Petaluma Community Development Commission and the City of Commission and the City of Petaluma Petaluma as to Item 1 on Ex. C, "Staffing and Administrative Expenses" 53 N $ - $ - $ -� 54 N $ - $ - $ -� 55 N $ - $ - $ -� 56 N $ - $ - $ -� 57 N $ - $ - $ -� 58 N $ - $ - $ -� 59 N $ - $ - $ -� 60 N $ - $ - $ -� 61 N $ - $ - $ -� 62 N $ - $ - $ -� 63 N $ - $ - $ -� 64 N $ - $ - $ -� 65 N $ - $ - $ -� 66 N $ - $ - $ -� 67 N $ - $ - $ -� 68 N $ - $ - $ -� 69 N $ - $ - $ -1 70 N $ - $ - $ -� 71 N $ $ $ 72 N $ $ $ 73 N $ $ $ 74 N $ $ $ 75 N $ - $ - $ -� 76 N $ - $ - $ -� 77 N $ - $ - $ -� 78 N $ - $ - $ -� 79 N $ - $ - $ -� 80 N $ - $ 81 N $ - $ - $ -� 82 N $ - $ - $ -� 83 N $ - $ - $ -� 84 N $ - $ - $ -� 85 N $ - $ - $ -� Petaluma Recognized Obligation Payment Schedule (ROPS 17-18) - Report of Cash Balances (Report Amounts in Whole Dollars) Pursuant to Health and Safetv Code section 34177 (1), Redevelopment Propertv Tax Trust Fund (RPTTF) may be listed as a source of pavment on the ROPS, but onlv to the extent no other funding source is available or when pavment 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 I E I F I 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 12/31/10 or after 01/01/11 retained period(s) interest, etc. Admin Comments ROPS 15-16B Actuals (01/01/16 - 06/30/16) 1 Beginning Available Cash Balance (Actual 01/01/16) 2 Revenue/Income (Actual 06/30/16) RPTTF amounts should tie to the ROPS 15-16B distribution from the County Auditor -Controller during January 2016 3 Expenditures for ROPS 15-16B Enforceable Obligations (Actual 06/30/16) 4 Retention of Available Cash Balance (Actual 06/30/16) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 5 ROPS 15-16B RPTTF Balances Remaining 6 Ending Actual Available Cash Balance CtoG=(1+2-3.4),H=(1+2-3-4-5) 203,321 10,033,093 67,615 472 1,821 5,560,097 No entry required $ 203,793 $ 10,034,914 $ - $ - $ - $ - Petaluma Recognized Obligation Payment Schedule (ROPS 17-18) - Notes July 1, 2017 through June 30, 2018 Item # Notes/Comments Petaluma Recognized Obligation Payment Schedule (ROPS 17-18) - Notes July 1, 2017 through June 30, 2018 Item # Notes/Comments