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Home My WebLink AboutResolution 2023-01 PCDSA ROPS 01/09/2023 DocuSign Envelope ID:A7742441-17C7-4254-BD10-6FA4184487A4 Resolution No. 2023-01 of the Petaluma Community Development Successor Agency ADOPTING A JULY 1, 2023 —JUNE 30, 2024, 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 23-24 and administrative budget, covering the period from July 1, 2023 —June 30, 2024, are due to the State Department of Finance (DOF)by February 1, 2023; and WHEREAS, in adopting ROPS 23-24, the PCDSA will comply with all applicable posting and notification requirements, including posting the ROPS 23-24 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 23-24 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 23-24 and administrative budget for the period July 1, 2023 — June 30, 2024, 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 x126 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 23-24 and administrative budget; and Resolution No. 2023-01 Page 1 DocuSign Envelope ID:A7742441-17C7-4254-BD10-6FA4184487A4 WHEREAS, in adopting the ROPS 23-24 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 23-24 and administrative budget, including without limitation, the right to modify, amend, terminate or challenge any obligation listed on the ROPS 23-24 or the administrative budget; and WHEREAS, this action is exempt from the requirements of the California Environmental Quality Act (CEQA) in accordance with CEQA Guidelines Section 15378(b)(4)&(5), in that adopting a resolution for the ROPS 23-24 does not meet CEQA's definition of a "project," because the action is a fiscal activity which does not have the potential for resulting in either a direct physical change in the environment or a reasonably foreseeable indirect physical change in the environment, and because the action constitutes organizational or administrative activities of governments that will not result in direct or indirect physical changes in the environment. NOW, THEREFORE, BE IT RESOLVED that the Petaluma Community Development Successor Agency, Pursuant to Health and Safety Code 34171(I), 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, 2023 —June 30, 2024 (ROPS 23-24) 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 23-24 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 23-24 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 Approved as to Petaluma Community Development Successor Agency at a Regular meeting on the Doc°Signed bPorm: 9t1i day of January 2023,by the following vote: F�`C'J�, be4n"e`raf tbunsel AYES: Chair McDonnell,Barnacle,Vice Chair Cader Thompson,Healy,Nan,Pocekay, Shribbs NOES: None ABSENT: None ABSTAIN: cuSigned by: DocuSigned by: ATTEST: S_6T Y� ecor mg ecre ary Chair Resolution No. 2023-01 Page 2 DocuSign Envelope ID:A7742441-17C7-4254-BD10-6FA4184487A4 Exhibit A Recognized Obligation Payment Schedule(ROPS 23-24)-Summary Filed for the July 1,2023 through June 30,2024 Period Successor Petaluma Sonoma Current Period Requested Funding for Enforceable Obligations(ROPS 23-24AT-1 2344BTMal ROPS 23-24 Detail) (July- (January- Tola1 Decemberl Junel A EMo-1.Obligations Funded as Follows(B—D) $ S S S B Bond Proceeds - C Reserve Balance - D M.,Funds - E Redevelopment Properly Tax Trust Fund(RPTTF)(F-G) 3,—,324 B488 $ 5,381,711 F RPTTF 3,326.321 L805,386 5,131,711 G Mministr -RPTTF 125,000 125,000 250,000 H Current Period EMe-11,1e Obligations(A+E) #4#4# #NW $ 5,381,711 Certt6catton of Oversight Board Chairman: Name Title Pursuant to Section e. (o)d iM1e Healm antl Safety c. herebycer Ply theabove..true antlaccurate Recognized Obligation Payment Schetlule for the above nametl successor agency. s Signature Date Petaluma Recognized Obligation Payment Schedule(RODS 23-2A)-ROPS Detail July 1,20231hrough June 30,20N A S D E F G H I J L M N 0 P 0 R S T V W Agrcement Agrcement T.1 Outstanding ROPS 23-24A(Jul-Dec) ROPS 23- 13(J..-Jun) Item project Execution Termination Pa De.cdpt Project Obligation Retlred Funtl Sources 23-24A Fund Sources 23-246 p Name Date Date yea ion Aree Bond Reserve Omer RPTTF Mmin TOWI Bontl Reserve Ot- RPTTF Pdmin Total Proceeds Balance Funds RPTTF Proceetls Balance Funds RPTTF 39 N/A 07N1/ 06130Q024 Petaluma Community Development Administrative Costs PCDC 260,000 N - - - -125,000 $ 125,000 - - - 125,000 126,000 2023 Successor Agency Mem. 46 TAB-2015ATax 03MIl 0-033 U.S.Bank Bond.i.suetl to funtl non- PCDC 14,600,000 N 642,290 - $ 642,290 - 645,390 - 645,390 Alocation Bontl. 2015 h...hg praj.ds Memetl 47 TAB-2015B Tax 031011 OSNi/2033 U.S.Bank Bmda iasuetl to Nntl non- PCDC 8,]]0,000 N - 692,513 - $ 692,513 - ]03,5]5 - ]03,5]5 Nloration Bontl. 2015 M1auaing prajeds Memetl 53 1 TA 2011 Tax 011011 11N1I2039 U.S.Bank Bonds issued W land non- PCDC 28,785,M0 N 1,991,522 - $ 1,991,522 - 458,422 456,422 A11-1.B.— 2.1] housing projects Merged 3,451,324 1,930,386 Petaluma Recognized Obligation Payment Schedule(ROPS 23-24)-Report of Cash Balances July 1,2020 through June 30,2021 (Report Amounts m Wh.I.Dd—) Pursuant b Hea6M1 antl Safety Cotle section 341]](I),Redevelopment Property Taz Trust Funtl(RPTTF)may ba liatetl as a source d payment on me ROPS,but anlyto Me etlent nc dher Nntling.came is available orwM1en payment 0orn property tax revenues is required by an enfomeable obligation. A B C I D E F G H Fund Sour Burnt Reserve BM mca Other Funds RPTTF ROPS 1940 Cash B d on Bon ond,i...ed.i.,ued on Prior ROPS RPTTF and Sal.....(0]roi f20- «before or after 01I01I11 R..erve Balances Rent, Comments O6I30121) 12I31I10 r tainetl for Nture gams, N.-M.I. a period(.) Interest, antl Mmin etc. 1 Beginning Available Cash Balanca(Actual0]10 MO)RPTTF (256,650) ount should exclude"A"period tlisfribution amount. 2 Reve,ue0,c,me(Actual 06130/21) RP amount.M1oultl 0e W the ROPS 20-21 total tlietribu0m hom Me County AudlWr-Controller 3 Upend—for ROPS 20-21 Enforceable Obligatlons(Actual 5,394,uM 06130/21) 4 Retention of Available Cash Won,,(ACWs106/30/21)RPTTF ount re Wined shouts only include the amounts distributed as rve for Murepe—(c ) 6 ROPS20.21RPTTFPrior PedmIAdfustmeM No.ntry RPTTF amount should lie to the Agency,ROPS 20-21 PPAfmm requiratl ,ubmi0ed to the CAC 6 1 Ending Actual Available Cash Balance(06/30/21)C to F•(1 12- $- $- S- $- (232,651) 3.4),G=(1+2.3-d-a) DocuSign Envelope ID:A7742441-17C7-4254-BD10-6FA4184487A4 Exhibit B PETALUMA COMMUNITY DEVELOPMENT SUCCESSOR AGENCY Administrative Budget FY 2023-2024 ROPS 23-24 FY 23-24A FY 23-24B 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