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Home My WebLink AboutResolution 2022-006 N.C.S. 01/03/2022Resolution No. 2022-006 N.C.S. 1 Resolution No. 2022-006 N.C.S. of the City of Petaluma, California A RESOLUTION OF THE PETALUMA COMMUNITY DEVELOPMENT SUCCESSOR AGENCY ADOPTING A JULY 1, 2022 – JUNE 30, 2023 RECOGNIZED OBLIGATION PAYMENT SCHEDULE AND ADMINISTRATIVE BUDGET PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177 (l) 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 20-21 and administrative budget, covering the period from July 1, 2022 – June 30, 2023, are due to the State Department of Finance (DOF) by February 1, 2022; and WHEREAS, in adopting ROPS 22-23, the PCDSA will comply with all applicable posting and notification requirements, including posting the ROPS 22-32 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 22-23 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 DocuSign Envelope ID: 9EA3BE89-8FBD-47ED-9663-40DB0D52FE31 Resolution No. 2022-006 N.C.S. 2 WHEREAS, a draft ROPS 22-23 and administrative budget for the period July 1, 2022 – June 30, 2023, a copy of which is attached as Exhibit A & B, and made part hereof, 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 22-23 and administrative budget; and WHEREAS, in adopting the ROPS 22-23 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 22-23 and administrative budget, including without limitation, the right to modify, amend, terminate or challenge any obligation listed on the ROPS 22-23 or the administrative budget. NOW, THEREFORE, BE IT RESOLVED BY THE PETALUMA COMMUNITY DEVELOPMENT SUCCESSOR AGENCY PURSUANT TO HEALTH AND SAFETY CODE 34171(l), 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, 2022 – June 30, 2023 (ROPS 22-23) and the administrative budget, attached hereto as Exhibit A & B, pursuant to Health and Safety Code section 34177(l), 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 22-23 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 22-23 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. DocuSign Envelope ID: 9EA3BE89-8FBD-47ED-9663-40DB0D52FE31 Resolution No. 2022-006 N.C.S. 3 Under the power and authority conferred upon this Council by the Charter of said City. REFERENCE: I hereby certify the foregoing Resolution was introduced and adopted by the Council of the City of Petaluma at a Regular meeting on the 3rd day of January 2022, by the following vote: Approved as to form: __________________________ City Attorney AYES: Mayor Barrett; Barnacle; Fischer; Healy; King; McDonnell; Vice Mayor Pocekay NOES: None. ABSENT: None. ABSTAIN: None. ATTEST: ______________________________________________ City Clerk ______________________________________________ Mayor DocuSign Envelope ID: 9EA3BE89-8FBD-47ED-9663-40DB0D52FE31 A$BCDE $ FGH $ DELNOPQ STVWBond ProceedsOther FundsRPTTF Admin RPTTFReserve BalanceOther FundsRPTTF Admin RPTTF$- $- $- $- $- $- $- $- $- $-07/01/202006/30/2021- - - 125,000 $ 125,000 - - 125,000 125,00003/01/201505/01/2033- - 625,532 - $ 625,532 - - 649,191 - 649,19103/01/201505/01/2033- - 705,306 - $ 705,306 - - 701,450 - 701,45008/01/201711/01/2039- - 1,970,622 - $ 1,970,622 - - 486,522 - 486,5223,426,460 1,962,162Fund SourcesBond Proceeds Reserve Balance Other Funds RPTTFPetalumaRecognized Obligation Payment Schedule (ROPS 22-23) - Report of Cash Balances July 1, 2019 through June 30, 2020(Report Amounts in Whole Dollars)Pursuant to Health and Safety Code section 34177 (l), 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.AB CDEFGH53 TAB-2017 TaxAllocation BondsU. S. Bank Bonds issued to fund non-housing projectsPCDCMerged30,240,000 N--47 TAB-2015B TaxAllocation BondsU. S. BankBonds issued to fund non-housing projectsPCDCMerged9,865,000 N--46 TAB-2015A TaxAllocation BondsU. S. BankBonds issued to fund non-housing projectsPCDCMerged15,310,000 N--39 N/APetaluma Community Development Successor AgencyAdministrative Costs PCDCMerged250,000 N--$-$-$-ROPS 22-23A (Jul - Dec)22-23ATotalROPS 22-23B (Jan - Jun)22-23BTotalFund SourcesFund SourcesReserve BalanceBond ProceedsItem #Project NameAgreement Execution DateAgreement Termination DatePayeeDescriptionProject AreaTotal Outstanding ObligationRetiredPetalumaRecognized Obligation Payment Schedule (ROPS 22-23) - ROPS Detail July 1, 2022 through June 30, 2023ABFG H I J MRCertification of Oversight Board Chairman:NameTitlePursuant 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/SignatureDateAdministrative RPTTF 125,000 125,000 250,000 Current Period Enforceable Obligations (A+E) $ 3,426,460 $ 1,962,162 5,388,622 Redevelopment Property Tax Trust Fund (RPTTF) (F+G) 3,426,460 1,962,162 5,388,622 RPTTF 3,301,460 1,837,162 5,138,622 Reserve Balance - Other Funds - Enforceable Obligations Funded as Follows (B+C+D) $ - $ - $ - Bond Proceeds - Recognized Obligation Payment Schedule (ROPS 22-23) - Summary Filed for the July 1, 2022 through June 30, 2023 PeriodSuccessor Agency:PetalumaCounty:SonomaCurrent Period Requested Funding for Enforceable Obligations (ROPS Detail)22-23A Total (July - December)22-23B Total (January - June)ROPS 22-23TotalAttachment ADocuSign Envelope ID: 9EA3BE89-8FBD-47ED-9663-40DB0D52FE31 Item #Notes/Comments394647536 Ending Actual Available Cash Balance (06/30/20) C to F = (1 + 2 -3 - 4), G = (1 + 2 - 3 - 4 - 5)$- $- $- $-(256,650)PetalumaRecognized Obligation Payment Schedule (ROPS 22-23) - Notes July 1, 2022 through June 30, 20234 Retention of Available Cash Balance (Actual 06/30/20) RPTTF amount retained should only include the amounts distributed as reserve for future period(s)-5 ROPS 19-20 RPTTF Prior Period AdjustmentRPTTF amount should tie to the Agency's ROPS 19-20 PPA form submitted to the CACNo entry required2 Revenue/Income (Actual 06/30/20)RPTTF amount should tie to the ROPS 19-20 total distribution from the County Auditor-Controller- - 5,179,3903 Expenditures for ROPS 19-20 Enforceable Obligations (Actual 06/30/20)- 5,434,9441 Beginning Available Cash Balance (Actual 07/01/19) RPTTF amount should exclude "A" period distribution amount.---(1,096)ROPS 19-20 Cash Balances (07/01/19 - 06/30/20)CommentsBonds issued on or before 12/31/10Bonds issued on or after 01/01/11Prior ROPS RPTTF and Reserve Balances retained for future period(s)Rent, grants, interest, etc.Non-Admin and AdminAttachment ADocuSign Envelope ID: 9EA3BE89-8FBD-47ED-9663-40DB0D52FE31 Exhibit B PETALUMA COMMUNITY DEVELOPMENT SUCCESSOR AGENCY Administrative Budget FY 2022-2023 ROPS 22-23 FY 22-23A FY 22-23B Total for Year Admin charges (wages, etc) $ 93,200 $ 93,200 Professional Service/Audit 8,000 8,000 Utilities/Maintenance/Repairs 5,000 5,000 Legal Services 10,000 10,000 Office Supplies 250 250 Bank/Trustee fees/Financial oversight 8,550 8,550 $ 125,000 $ 125,000 $ 250,000 DocuSign Envelope ID: 9EA3BE89-8FBD-47ED-9663-40DB0D52FE31