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Home My WebLink AboutStaff Report 3.F 01/07/2019DATE: January 7, 2019 TO: Honorable Chair and Members of the Petaluma Community Development Successor Agency Board through Executive Director FROM: Ingrid Alverde, Economic Development / Redevelopment Manag SUBJECT: Resolution Adopting a July 1, 2019 — June 30, 2020 Recognized Obligation Payment Schedule and Administrative Budget Pursuant to Health and Safety Code Section 34177 (1) RECOMMENDATION It is recommended that the Petaluma Community Development Successor Agency approve the Resolution Adopting a July 1, 2019 — June 30, 2020 Recognized Obligation Payment Schedule and Administrative Budget Pursuant to Health and Safety Code Section 34177 (1). BACKGROUND On December 29, 2011, the California Supreme Court upheld the constitutionality of Assembly Bill xl 26 dissolving redevelopment agencies statewide as of February 1, 2012. The Council established the Petaluma Community Development Successor Agency (PCDSA) as a separate legal body to oversee the dissolution of the former Petaluma Community Development Commission. DISCUSSION The Recognized Obligation Payment Schedule (ROPS) is the document that serves as the budgeting authority for the PCDSA. In the past it was updated and approved by the State of California every six months and now it is approved once a year. The upcoming ROPS period is July 1, 2019 — June 30, 2020 and is referred to as the ROPS 19-20 because it covers obligations for fiscal year 19-20. The attached ROPS requests funds to pay for ongoing debt service and administration. As of July 1, 2018, the Petaluma Oversight Board will no longer approve the actions of the PCDSA. As outlined in State law, a new, county -wide oversight board was established to oversee all actions of all successor agencies in Sonoma County. The Sonoma County Consolidated Oversight Board is scheduled to meet on January 25, 2019 to review the ROPS in time for the Department of Finance (DOF) deadline on February 1, 2019. The attached resolution includes the ROPS 19-20 and the administrative budget for review and consideration (Exhibit A & B of the Resolution). FINANCIAL IMPACTS The ROPS 19-20, once approved by the Oversight Board and the DOF, will provide the needed funds to administer the PCDSA and pay for enforceable obligations of the PCDSA from July 1, 2019 — June 30, 2020. ATTACHMENTS Resolution Adopting the Fiscal Year 19-20 Recognized Obligation Payment Schedule Exhibit A — Recognized Payment Schedule Exhibit B — Administrative Budget 2 Attachment 1 RESOLUTION NO. A RESOLUTION OF THE PETALUMA COMMUNITY DEVELOPMENT SUCCESSOR AGENCY ADOPTING A JULY 1, 2019 — JUNE 30, 2020 RECOGNIZED OBLIGATION PAYMENT SCHEDULE 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) 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 19-20 and administrative budget, covering the period from July 1, 2019 — June 30, 2020, are due to the State Department of Finance (DOF) by February 1, 2019; and WHEREAS, in adopting ROPS 19-20, the PCDSA will comply with all applicable posting and notification requirements, including posting the ROPS 19-20 on the PCDSA'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, the Oversight Board for the PCDSA must review and approve the ROPS 19-20 and administrative budget prior to their submission to DOF; and WHEREAS, the Sonoma County Consolidated Oversight Board was established on July 1, 2018 to approve the ROPS for the PCDSA; and WHEREAS, a draft ROPS 19-20 and administrative budget for the period July 1, 2019 — June 30, 2020, 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 WHEREAS, the PCDSA reserves the right to challenge the legality of Assembly Bills xl 26 and 1484 and/or any implementing regulations, and to rescind its acceptance of PCDSA rights and obligations, and reserves any and all rights concerning Assembly Bill xl 26 and AB 1484 pursuant to applicable law; and WHEREAS, the PCDSA reserves the right to further amend the ROPS 19-20 and administrative budget; and WHEREAS, in adopting the ROPS 19-20 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 19-20 and administrative budget, including without limitation, the right to modify, amend, terminate or challenge any obligation listed on the ROPS 19-20 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, 2019 — June 30, 2020 (ROPS 19-20) 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 19-20 simultaneously to the Sonoma County Consolidated Oversight Board, 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 19-20 on the PCDSA's website. M 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. Successor Agency: County: Petaluma Sonoma Recognized Obligation Payment Schedule (RODS 19-20) -Summary Filed for the July 1, 2019 through June 30, 2020 Period 19-20A Total Current Period Requested Funding for Enforceable Obligations (RODS Detail) (July - December) A Enforceable Obligations Funded as Follows (B+C+D): B Bond Proceeds - C Reserve Balance - D Other Funds - E Redevelopment Property Tax Trust Fund (RPTTF) (F+G): F RPTTF G Administrative RPTTF 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. If•Fliiir.' 125,000 $ 19-20B Total anuary = June Exhibit A ROPS 19-20 Total 5,300,283 $ 5,4251283 - 5,175,283 5,175,283 125,000 125,000 250,000 $ 1253000 $ 51300,283 $ 514253283 Title Signature Date Petaluma Recognized Obligation Payment Schedule (ROPS 19-20) - ROPS Detail July 1, 2019 through June 30, 2020 Report Amounts in Whole Dollars A 8 c D E F G H I J K L M N O P O R S T U V W 19-20A (July -December 19-208(January -June Fund Sources Fund Sources Reserve Reserve Contract/Agreement Contract/Agreement Total Outstanding ROPS 19-20 19-20A 19-208 Item # Project Name/Debt Obligation Obligation Type Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Total Bond Proceeds Balance Other Funds RPTTF Admin RPTTF Total Bond Proceeds Balance Other Funds RPTTF Admin RPTTF Total $ 663452,000 S 5,425,283 S 0 S 0 5 0 $ 0 $ 125,000 $ 125,000 $ 0 $ 0 S 0 $ 5,1751283 Is 125,000 $ 5,3001283 6 PM-Requlatory Agreement Project Management Costs 7/1/2011 5/1/2039 Successor Housing Agency Project Management and PCDC Merged N $ _- - $- 7 PM -Financial Administration Admin Costs 9/1/2004 5/112039 City of Petaluma Fiscal oversight on bonds and Trustee PCDC Merged N $ - $ - $ - Fees and Admin 8 PM-Consir. Project Management Project Management Costs 7/1/2011 5!1/2039 City of Petaluma Project Management of Construction PCDC Merged N $ - $ - $ - Contracts 9 HSG -COTS -HUD Grand Miscellaneous 7/30/2003 7/1/2023 Committee an the Compliance of third party contract PCDC Merged N $ - $ - $ - Agreement Shelterless 10 HSG -COTS -HUD Loan Miscellaneous 7/1/2003 7/1/2023 Committee on the Compliance of third party contract PCDC Merged N $ - $ - $ - Shelterless 11 HSG -COTS- HCD Loan -Restrictive Miscellaneous 3/1/2004 3/1/2014 Committee on the Compliance of third party contract PCDC Merged N $ - $ - $ - Gov. _ _ Shelterless 12 HSG -Mobile Home Rent Control Miscellaneous 1131!2011 6/18/2047 Sonoma County CDC Cooperative Agreement PCDC Merged N $ - $ - $ - Ord. 13 HSG -Rental Assistance Miscellaneous 1/31/2011 6/18/2047 Petaluma People Services Cooperative Agreement PCDC Merged N S $ - $ - Ctr 14 HSG -Transitional Housing Miscellaneous 1/31/2011 611812047 Salvation Army Cooperative Agreement PCDC Merged N $ $ $ 15 HSG -Transitional Housing Miscellaneous 1/3112011 6/18/2047 COTS Cooperative Agreement PCDC Merged N $ $ $ 16 HSG -Rehab single family homes Miscellaneous 1/31/2011 6/18/2047 Rebuilding Together Cooperative Agreement PCDC Merged N $ $ $ 17 CIP-Old Redwood Hwy Interchange Improvement/Infrastructure 6/27/2003 12/31/2012 URS Corp. Design PCDC Merged N - $$ - $ - 18 CIP-Old Redwood Hwy Interchange Improvement/infrastructure 5/7/2010 6/30/2016 Sonoma Co. Trans. Agency Matching funds for construction PCDC Merged N $ $ $ 19 CIP-Rainier Ave Cross -Town Improvement/infrastructure 5/1012010 12/31/2012 URS Corp. Environmental PCDC Merged N $ - $ - S - Connector 20 CIP-Rainier Ave Cross -Town Improvement/Infrastructure 4114/2010 12/3il2012 Metropolitan Planning Planning PCDC Merged N $ - $ - $ - Connector Group 21 CIP-Rainier Ave Cross -Town Improvement/Infrastructure 6/1512011 6!3012025 - Sonoma Co. Trans. Agency Local Matching Funds PCDC Merged N $ - $ - $ - Connector 22 CIP-Petaluma River Trail Im rovemenUlnhastruciure 10110/2007 12131/2012 CSW/Stuber-Stroeh Design PCDC Merged N S $ $ 23 CIP-Petaluma River Trail Improvement/Infrastructure 1/10/2008 12131/2009 Geoff Hornsby Right of way services PCDC Merged N $ $ $ 24 CIP-Petaluma River Trail Improvement/Infrastructure 511/2006 9/30/2013 Sonoma Co. Trans. Agency Construction of Phase III PCDC Merged N $ $ S 25 CP -East Washington Interchange Improvement/Infrastructure 5126/2009 12/31/2015 URS Corp. Design PCDC Merged N $ $ S 26 CIP-East Washington Interchange ImprovemenUlnfrastructure 3116/2007 12/31/2011 Assoc. Right of Way Right of way PCDC Merged N $ - $ - 5 - Service 27 CIP-East Washington Interchange Improvement/Infrastructure 6/3/2009 6/30/2014 Sonoma Co. Trans. Agency ROW Capital, ROW Support, Consir PCDC Merged N $ - $ - $ - Support 29 CIP-Under round Tank Improvemenf/lnirastructure 9/1/2009 12/31/2015 AJUL City of Petaluma Project Management PCDC Merged N 5 $ S 30 CIP-Brownfields Program ImprovemenVlnfrastructure 10/26/2009 10/31/2013 U.S.Environ.Protection Project Management PCDC Merged N $ - $ - $ - _ Agency M=11111111il- 31 MISC-Office Equipment Lease Admin Costs 311/2011 2128/2016 Discovery Systems Office equipment PCDC Merged N $ $ 5 32 MISC-Le al Services Admin Costs 7/1/2011 5/1/2039 Meyers Nave Attorneys Legal Services PCDC Merged N $ $ $ 35 MISC-Legal Services -Oversight Admin Costs 7111/2012 613012013 Renne Sloan Holtzman Oversight Board legal services PCDC Merged N $ $ - S - Board Sakai 36 MSC-DOF Due Diligence Review Dissolution Audits 8/15/2012 6130/2013 Pun & McGeady Audit services for Oversight Board PCDC Merged N $ $ $ 37 MISC-Petaluma Marina Miscellaneous 11/23/198 91_/2_0_3_S1]111111V State of California Loan Repayment PCDC Merged ed N $ $ S 38 MISC-Econ. DevJSite Development City/County Loan (Prior 1/31/2011 6118/2047 City of Petaluma Cooperative Agreement PCDC Merged N $ - $ - $ - 06f28/11), Other 39 N/A Admin Costs 7/1/2019 6/30/2020 Petaluma Community Administrative Costs PCDC Merged 250,000 N $ 250,000 125,000 $ 125,000 1255000 $ 125,000 Development Successor Agency 40 LITIGATION - Old Redwood & Litigation 8129/1994 613012016 Meyers Nave Attorneys Legal Services for Litigation with DOF PCDC Merged N $ - $ - $ - Rainier 41 LITIGATION -Old Redwood, Litigation 412912014 613012016 Burke Williams & Sorensen Legal Services for Litigation with DOF PCDC Merged N $ - $ - $ - 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 PCDC Merged N $ - $ $ - 6/27/11 43 CIP-East Washin on Interchange imp rovementHnfrastructure 10129/2011 6130/2016 Pacific Gas & Electric Utility Agreements PCDC Merged N S $ S 44 CIP-East Washington Interchange Improvement/Infrastructure 4/29/2011 613012016 AT&T Utili Agreements PCDC Merged _ N 5 $ S 45 Bond Expenditure Agreement Bonds Issued On or Before 6/1112015 6/30/2016 City of Petaluma Expenditure of bond proceeds PCDC Merged N $ - $ - 5 - 12131/10 according to bond indentures 46 TAB -2015A Tax Allocation Bonds Bonds Issued After 12/31/10 3!1/2015 5/1/2033 U. S. Bank Bonds issued to fund non -housing PCDC Merged 171005,OOD N $ 11302,945 $ - 11302,945 5 1,302,945 projects 47 TAB -2015B Tax Allocation Bonds Bonds Issued After 12131110 311/2015 5/112033 U. S. Bank Bonds issued to fund non -housing PCDC Merged 12,435,000 N $ 1,381,094 $ 11381,094 $ 1,381,094 projects 48 Cooperative Agreements - Exhibit A/Seclion 8 - Economic Dev. Reentered Agreements 4/25/2012 6/18/2047 City of Petaluma Cooperative Agreement as reinstated by Resolution of the Oversight Board PCDC Merged . - N $ - $ - - $ - Programs; Exhibit B/Section3 - Affordable Hsg programs grams as as #2012-03 adopted April 25, 2012 r reinstated by Resolution #2012-03 of the OB 49 January 31, 2011 Cooperative Improvement/Infrastructure 4/25/2012 6/18/2047 City of Petaluma January 31, 2011 Cooperative PCDC Merged 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 1 on Exhibit A, the "Old Redwood Highway Interchange Project' 50 January 31, 2011 Cooperative ImprovemenUinfrastructure 4/25/2012 6118/2047 City of Petaluma January 31, 2011 Cooperative PCDC Merged N $ - $ - S - 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'101IEast Washington Interchange Project' Petaluma Recognized Obligation Payment Schedule CROPS 19-20) - ROPS Detail July 1, 2019 through June 30, 2020 Report Amounts in Whole Dollars 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 DescdptionlProject Scope Project Area Total Outstanding Debt or Obligation Retired ROPS 19-20 Total 19-20A (July -December 19-20A Total 19-208(January -June 19-20B Total Fund Sources Fund Sources Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF 51 January 31, 2011 Coop Agreement by and between the Petaluma Community Development Commission and the City of Petaluma as to Item 5 on Ex. A. 'Rainer Avenue Cross-town Connectorlinterchange Proj' Improvement/Infrastructure 4/2512012 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 39772,000 N $ - $ - S 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 Administrative Expenses' Project Management Costs 412512012 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 $ - $ - S 53 TAB-2017 Tax Allocation Bonds Bonds Issued After 12!31/10 61112017 11/1/2039 U. S. Bank Bonds issued to fund non-housing projects PCDC Merged 32,990,000 N $ 2,491,244 $ - 29491,244 $ 21491,244 54 N $ $ $ 55 N $ $ $ 56 N $ $ $ 57 N $ $ $ 58 N $ $ $ 59 N $ $ y 60 N $ $ $ 61 N $ $ $ 62 N $ $ $ 63 N $ $ $ 64 N $ $ $ 65 N $ $ $ 66 N $ $ $ 67 N $ $ $ 68 N $ $ $ 69 N $ $ $ 70 N $ $ $ 71 N $ $ $ 72 N $ $ y 73 N $ $ S 74 N $ $ $ 75 N $ $ $ 76 N $ $ $ 77 N $ $ $ 78 N $ $ $ 79 N $ $ $ 80 N $ $ $ 81 N $ $ $ 82 N $ $ $ 83 N $ $ $ 84 N $ $ $ 85 N $ $ $ 86 N $ $ S 87 N $ $ $ 88 N $ $ $ 89 N $ $ $ Petaluma Recognized Obligation Payment Schedule (BOPS 19-20) - Report of Cash Balances July 1, 2016 through June 30, 2017 (Report Amounts in Whole Dollars) 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 F G H Fund Sources Bond Proceeds Reserve Balance Other Funds RPTTF Prior ROPS RPTTF and Reserve Rent, Non -Admin ROPS 16-17 Cash Balances Bonds issued on or Bonds issued on or Balances retained Grants, and (07/01/16 - 06/30/17) before 12/31/10 after 01/01/11 for future period(s) Interest, etc. Admin Comments 1 Beginning Available Cash Balance (Actual 07/01/16) RPTTF amount should exclude "A" period distribution amount 203,794 103034,915 211643152 2 Revenue/Income (Actual 06/30/17) RPTTF amount should tie to the ROPS 16-17 total distribution from the County Auditor -Controller 19 27,579 516953895 3 Expenditures for ROPS 16-17 Enforceable Obligations (Actual 06/30/17) 203,808 5,344,015 51994,791 4 Retention of Available Cash Balance (Actual 06/30/17) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 2,149,852 November 2017 Bond Payment 5 ROPS 16-17 RPTTF Prior Period Adjustment RPTTF amount should tie to the Agency's ROPS 16-17 PPA form submitted to the CAC No entry required 6 Ending Actual Available Cash Balance (06/30/17) CtoF=(1+2-3-4),G=(1+2-3-4-5) $ 5 $ 417183479 $ 0 $ 0 $ (284,596) PETALUMA COMMUNITY DEVELOPMENT SUCCESSOR AGENCY Administrative Budget FY 2019-2020 ROPS 19-20 Admin charges (wages, etc) Professional Service/Audit Utilities/Maintenance/Repairs Legal Services Office Supplies Bank/Trustee fees/Financial oversight FY 19-20A FY 19-20B Total for Year $ 931200 $ 93,200 81000 89000 51000 51000 10, 000 10, 000 250 250 8,550. 8,550 $ .125,000 $ 125,000 $ 250,000 PETALUMA COMMUNITY DEVELOPMENT SUCCESSOR AGENCY Administrative Budget FY 2019-2020 ROPS 19-20 Admin charges (wages, etc) Professional Service/Audit Utilities/Maintenance/Repairs Legal Services Office Supplies Bank/Trustee fees/Financial oversight Exhibit B FY 19-20A FY 19-20B Total for Year $ 93,200 $ 93,200 8,000 8,000 5,000 5,000 10,000 10,000 250 250 8,550 8,550 $ 125,000 $ 125,000 $ 250,000