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HomeMy WebLinkAboutPCDSA Resolution 2019-01 01/07/2019Resolution No. 2019-01 of the Petaluma Community Development Successor Agency A RESOLUTION OF THE PETALUMA COMMUNITY DEVELOPMENT SUCCESSOR AGENCY ADOPTING A JULY 1, 2019 - JUNE 30,2 020 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 PCDSA Resolution No. 2019-01 Page 1 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 x1 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 x1 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. PCDSA Resolution No. 2019-01 Page 2 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. 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 A pry d as to Petaluma Community Development Successor Agency at a Regular Meeting on the f r ri I 7th of January 2019, by the following vote: AYES: Barrett, Fischer, Healy, Kearney, King, McDonnell, Miller General Counsel NOES. None ABSENT: None ABSTAIN: None ATTEST: l r Recording Secretary Chair PCDSA Resolution No. 2019-01 Page 3 Recognized Obligation Payment Schedule (ROPS 19-20) - Summary Filed for the July 1, 2019 through June 30, 2020 Period I Successor Agency: Petaluma County: Sonoma i Current Period Requested Funding for Enforceable Obligations (ROPS Detail 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. PCDSA Resolution No. 2019-01 /s/ Name Signature Exhibit A 19-20A Total 19-20B Total (July - December) (January 'June) ROPS 19-20 Total $ $ 125,000 $ 5,300,283 $ 5,425,283 - 5,175,283 5,175,283 125,000 125,000 250,000 $ 125,000 $ 5,300,283 $ 5,425,283 Title Date ll -_ I l Page 4 Petaluma Recognized Obligation Payment Schedule (ROPS 19-20) - ROPS Detail July 1, 2019 through June 30, 2020 (Rannrf Amnunfs in Whnle nnII-1 A B C D E F G H I J K L M N O P q R S T U V W 19-20A Jul - December 19-20B January -June Fund Sources Fund Sources Contract/Agreement ContracVAgreement Total Outstanding ROPS 19-20 Reserve 19-20A Reserve 19-20B Item # Project Name/Debt Obligation Obligation Type Execution Date Termination Date Payee D.-Option/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 $66,452,000 $ 5425283 $ 0 $ 0 $ 0 $ 0 $ 125,000 $ 125,000 $ 0 $ 0 $ 0 $ 5,175,283 $ 125,000 $ 5,300,283:: �,,. .. a: a , _.- ffl. 6 t... 9 �,�,^.--M`. ✓ a _ v t... _,. -' . , . ,.l .am _ , w , �. ,--r , .." ' rte-.- r —�.�..,-,a-'=w-r;.: 7>✓�., �' 'f3�S5t7 r2USj; A ek7S,. ,.: t ©�' lA��.. � s... r 'f�A, a 0..: -ter _�-: ^--.�,-.�.�, � _.-_—_�r..,_.� r,'-„�,...�_.,.:-_ _.�.-,�_.....,._ ._,w e_�„�,...wc ,,. :... .. �,...,.,._r�,. � �.Y��.r _.:air',,.. r.,.,. --_.�--�"'�.>:r^ � , � �_�. ��.:7,- ,,..r-�-'.,�...-.?� ,. _.: �.r�. ,s^-' _r' _ 7 PM -Financial Administration Admin Costs 9/1/2004 5/1/2039 City of Petaluma Fiscal oversight on bonds and Trustee PCDC Merged N $ - $ - $ _': Fees and Admin ,- .^: a.. sy "�` `v ,- r. I ^..,�..�s� r fir, ` w �,- � �.„., �, r �u � _ .w. ,:MONISM. 'v --�. '. ���,. ,-: ��:r i. ,.w 12 HSG -Mobile Home Rent Control _�..�.?a`:.--_�r,�-w..��__ ,.._.. Miscellaneous 1/31/2011 �:�. 6/18/2047 , ..- .0��..� �., ..,,:. o�--� ..tea..... 1.,::... e�r'rr.,.�r,�„�. _ _. .�. -13;4? - ��>�.'-.,.-._r'^ ,- .�„-�. �r �' Sonoma County CDC Cooperative Agreement PCDC Merged r. ,��::.� ..,, rr __ �- 4 ..�^.,.v.--,. _ .,� �,..,,;:r""_�.�. �,-.�,,.,.,�.,.._,.......��,�,._.-....-..rr...2..� ,->_ r, -=w � w-^_ �_. N $ - urs �_ .,.,.:'`., .r�r.., my -•`-- $ ::.- .. __^ - :,.r. ,�,.�.�-..,�. 7� k -' :. .,,.::.-,.....,':_.. ,� .,.... � -"�.�-' , $ _ Ord. '.: .-._.- �.,r.�'�` 'Q a. BS .' :7 ,: 43. ,,. .., . ter^ t., _•.,r'^"E. _...r rr;w �%..,„^... -.,.. ,..-,-„ w.. x_ �7 .,,.- �--,:, � � �, "`,:;�-.�.,..., �.-. r , v '• .. y :--x.r^,r^�-'.. _.v'-•.-..-, NE •- N d . 18 CIP-Old Redwood Hwy Interchan a Improvement/Infrastructure 51712010 6/3012016 Sonoma Co. Trans. Agency Matching funds for construction PCDC Merged N $ 19 CIP-Rainier Ave Cross -Town Improvement/infrastructure 5/10/2010 12/31/2012 URS Corp. Environmental PCDC Merged N $ - $ _ $ Connector a 27 CIP-East Washington Interchange Improvement/lnfrastructure 6/312009 6/30/2014 Sonoma Co. Trans. Agency ROW Capital, ROW Support, Constr PCDC Merged m - N $ - $ - c 5 $ _. Support N* 31 MISC-Of oe Equipment Lease Admin Costs 3/1/2011 212812016 Discove Systems Office equipment PCDC Merged N $ - $ $ 32 MISC-Le ai Services Admin Costs 7/1/2011 5/1/2039 Meyers Nave Attorneys Legal Services PCDC Merged N $ - $ - '.. $ _ 35 MISC-Legal Services -Oversight Admin Costs 7/11/2012 6/30/2013 Renne Sloan Holtzman Oversight Board legal services PCDC Merged N $ - $ - $ _ Board Sakai 36 MISC-DOF Due Diligence Rev Review Dissolution Audits 8/15/2012 6/30/2013 Pun & McGead Audit services for Overst Board PCDC Merged i h N $ - $ - $ _ - rf 49 4 „-.. - r GMEMO- .� `-"-�"�,:- .� r�':•s�' _ „� �. , _.,-. �.:: 21 » FST r- �-„:,ms-µ �"�.`� a-�;�`-� 39 N/A Admin Costs 7/1/2019 6/30/2020 Petaluma Community Administrative Costs PCDC Merged 250,00D N $ 250,000 125,000 $ _. 125,000 � . 125,000 $ 125,000 Development Successor Agency 40 LITIGATION - Old Redwood & Litigation 8129/1994 6/30/2016 Meyers Nave Attorneys Legal Services for Litigation with DOF PCDC Merged N $ - $ - $ Rainier 41 LITIGATION - Old Redwood, Litigation 4/29/2014 6/30/2016 Burke Williams & Sorensen Legal Services for Litigation with DOF PCDC Merged N $ - $ - j $ _ Rainier, Co -Op Agreement 42 Cash Flow Loan from City City[County Loans After 10/1/2014 6130/2016 City of Petaluma Cash Flow loan to cover expenses PCDC Merged N $ - $ - j $ _I 6127111 _ >= ..._ s .�-"��'-�, US— .” MEMOa->, ..§ 3a 'Dip m'10..f#�r-,.'/#1�r5 r3�,�t- �., :�y. ._,-NON 45 Bond Expenditure Agreement Bonds Issued On or Before 6/11/2015 6/30/2016 City of Petaluma Expenditure of bond proceeds PCDC Merged N $ - $ _ $ _: 12/31/10 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 17,005,000 N $ 1,302,945 $ - 1,302,945 '.. $ 1,302,945'. projects 47 TAB -20158 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 12,435,000 N $ 1,381,094 $ - 1,381,094 $ 1,301,094: projects . „sy � w w - -, r r w:`'. ., ��w,-�^c , , ,-`-� ��'^ c���'� .-a- . / ,�"rn r ., .. ,.r a _ lf�,.w,:-'� �,-'-- %x. o. a�'.a�rr�--- �� b a a `fi.. ,.�.•^' s 49 January 31, 2011 Cooperative ImprovemenVlnirasWcture 4/25/2012 6118/2047 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 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 3 on Exhibit A, the "101/East Washington Interchange Project' PCDSA Resolution No. 2019-01 Page S Payment Schedule (ROPS 19.20) - ROPS Detail July 1, 2019 through June 30, 2020 fRenort Amounts in Whole Dnllarsl 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 ContracttAgreement Termination Date Payee Descdption/Pmject Scope Project Area Total Outstanding Debtor Obligation Retired ROPS 19.20 Total Bond Proceeds 19-20A Jul - December Fund Sources Reserve Balance Other Funds RPTTF 19-20A Admin RPTTF Total 19-20B' (January - June Fund Sources Reserve Bond Proceeds Balance Other Funds RPTTF Admin RPTTF 19-20B Total 51 January 31, 2011 Coop Agreement ImprovementlinfrasWcture by and between the Petaluma Community Development Commission and the City of Petaluma as to Item 5 on Esc. A, 'Rainer Avenue Cross-town Connector/Interchange Proj " 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 3,772,000 N $ - $ - $ 52 January 31, 2011 Coop Agreement Project Management Costs by and between the Petaluma Community Development Commission and the City of Petaluma as to Item 1 on Ex. C, 'Staffing and Administrative Expenses" 4/25/2012 6/1812047 City of Petaluma January 31, 2011 Cooperative Agreement by and between the Petaluma Community Development Commission and the City of Petaluma PCDC Merged N $ - $ _ $ _ 53 TAB -2017 Tax Allocation Bonds Bonds Issued After 12/31/10 8/1/2017 11/1/2039 U. S. Bank Bonds issued to fund non -housing projects PCDC Merged 32,990,000 N $ 2,491,244 $ - 2,491,244 $ 2,491,2441 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 $ _ $ _ $ 7o 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 1 $ _ $ _ $ 851N 1 $ - $ $ - 86 N $ $ $ 87N $ - 1 $ $ - 881 N $ _ $ $ _ 89 _.__.. N 1 $ - $ - s _ PCDSA Resolution No. 2019-01 Page 6 Petaluma Recognized Obligation Payment Schedule (ROPS 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 10,034,915 2,164,152 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 5,695,895 3 Expenditures for ROPS 16-17 Enforceable Obligations (Actual 06/30/17) 203,808 5,344,015 5,994,791 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 $ 4,718,479 $ 0 $ 0 $ (284,596) PCDSA Resolution No. 2019-01 Page 7 PETALUMA COMMUNITY DEVELOPMENT SUCCESSOR AGENCY Administrative Budget FY 2019-2020 BOPS 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 PCDSA Resolution No. 2019-01 Page 8