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DATE: January 23,.2012
TO: Honorable Chair and Members of the Petaluma. Community Development
Commission through the Executive Director
1
FROM: Sue Castellucci, Housing Coordinator Sate
SUBJECT: Adoption of PCDC Resolution Adopting An Amended Enforceable Obligation
Payment Schedule Pursuant to Health and Safety Code Section 34169.
RECOMMENDATION
It is recommended that the Petaluma Community Development Commission approve the
attached Resolution Adopting An Amended Enforceable Obligation Payment Schedule Pursuant
to Health and Safety Code Section 34169.
BACKGROUND
ABx1 26 (the "Dissolution. Act") immediately suspends all new redevelopment activities and
incurrence of indebtedness(and dissolves redevelopment agencies effective February 1, 2012.
All assets, properties, contracts, leases, records, 'buildings and equipment of PCDC will be
transferred to the control of the. City of Petaluma as the Successor Agency. The. Successor
Agency is obligated to make payments according to the Enforceable Obligation Payment
Schedule until the Oversight Board approves a Recognized Obligation Payment Schedule
CROPS").
DISCUSSION
Prior to the recent California Supreme. Court decision, the Dissolution Act required that PCDC
establish an Enforceable Obligations Payment Schedule ("EOPS") that outlihed all current
PCDC financial obligations through December 1, 2011 and would serve as the basis for future
tax increment collection and eligible payments if the PCDC were dissolved. In August of 2011,
PCDC adopted a.resolution approving an EOPS through December 2011.
The EOPS needs to be amended to include payments due from January 1, 2012'through June 30,
2012.. All contracts,.debt service and other enforceable obligations are included in the Schedule
(Attachment 2).
Agenda Review:
City Attorney n Q Finance Director City Manager_
FINANCIAL IMPACTS
If the Enforceable Obligation Payment Schedule is not amended,.PCDC cannot pay obligations
due through January 2012, and the City, acting as the Successor Agency, cannot pay any
obligations.due until it adopts a ROPS (due March 1, 2012) that is approved by the Oversight
Board, which is not expected to meet before May 1, 2012.
ATTACHMENTS
1. Petaluma Community Development Commission Resolution Adopting an Amended
Enforceable Obligations Payment Schedule
2. Amended Enforceable Obligations Payment Schedule
Page 2
ATTACHMENT #1
PETALUMA COMMUNITY DEVELOPMENT COMMiSSION
RESOLUTION NO.
A RESOLUTION OF THE PETALUMA COMMUNITY DEVELOPMENT
COMMISSION ADOPTING AN AMENDED ENFORCEABLE OBLIGATION
PAYMENT SCHEDULE PURSUANT TO HEALTH AND SAFETY CODE SECTION
34169
WHEREAS, the Petaluma.Community Development Commission ("Commission") is a
redevelopment agency formed, existing and exercising its powers pursuant to California
Community Redevelopment Law, Health and Safety Code Section 33000 et seq. ("CRL");
WHEREAS, pursuant to subdivision (g) of Section 34169(g) of the CRL (enacted
pursuant to Assembly Bill xi 26), in August of 2011, the Commission adopted an Enforceable
Obligation Payment Schedule ("FOPS") listing enforceable obligations within the meaning of
subdivision (d) of Section 34167 of the CRL, through December 31, 2011; and
WHEREAS, the Resolution adopting the EOPS reserved the right to amend the EOPS;
and
WHEREAS, following adoption of the EOPS, the Commission posted the EOPS on the
Commission website and provided notification of its adoption to the Department of
Finance, the State Controller's Office, and the Sonoma County Auditor-Controller, in
compliance with the CRL; and
WHEREAS, Section 34169 provides that an EOPS can be amended at any public
meeting of the Commission; and
WHEREAS, good cause appearing therefor, as set forth in the Staff Report
accompanying;this Resolution,the Commission desires to amend the EOPS to include
obligations through June 2012, which amended FOPS can serve as a guide to the
Successor Agency until a Recognized Payment Obligation Schedule CROPS") is
adopted by the Successor Agency and approved by the Oversight Board in
accordance with the CRL; and
WHEREAS, an amended EOPS, a copy of which is attached, has been presented to the
Commission, the Commission is familiar with the contents thereof, and the Executive
Director has recommended approval of the Amended EOPS, subject to the
contingencies and reservation of rights set forth in this Resolution; and
Page 3
WHEREAS, the Commission reserves the right to challenge the legality of Assembly
Bill xl 26; and
WHEREAS, the Commission reserves the right to further amend the Enforceable
Obligation Payment Schedule; and
WHEREAS, in adopting the Amended Enforceable Obligation Payment Schedule, the
Commission does not intend to waive, nor shall the Commission be deemed to have waived any
rights the Commission or its successor may have pursuant to or in connection with any
obligation listed on such Amended Schedule, including without limitation, the right to modify,
amend, terminate or challenge any obligation listed on such Amended Schedule;
NOW, THEREFORE, BE IT RESOLVED BY THE PETALUMA COMMUNITY
DEVELOPMENT COMMISSION that it hereby:
I. Finds that the Recitals set forth above are true and correct, and are incorporated herein
by reference.
2. Adopts the Amended Enforceable Obligation Payment Schedule attached hereto,
subject to all reservations of rights and contingencies set forth above.
3. Authorizes the Commission Executive Director or designee to take all actions
necessary to implement this Resolution, including without limitation, the posting of this
Resolution and the Amended Enforceable Obligation Payment Schedule on the Commission's
website, and the provision of notice of`adoption of this Resolution and such Amended Schedule
to the County Auditor-Controller, the State Controller and the State Department of Finance.
4. Declares that if any provision, sentence, clause, sec tion 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 remaining parts.
PASSED AND ADOPTED by the Board Members of the Petaluma Community
Development Commission on the 23rd day of January, 2012 by the following vote:
AYES: ABSENT:
ABSTAIN: NOES:
1778364.1
Page 4
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