HomeMy WebLinkAboutOB Res 17-01 2017-01-30 RESOLUTION NUMBER.OB17-01
A, RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR
AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY
APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE
FOR THE FISCAL PERIOD FROM JULY 1, 2017 THROUGH JUNE!30,
2018, PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177
AND TAKING CERTAIN RELATED ACTIONS
RECITALS:
A. Pursuant to Health and Safety Code Section 34177(o), the Successor
Agency to the Seal Beach Redevelopment .Agency (the "Successor Agency") must
prepare a.Recognized Obligation Payment Schedule listing the anticipated payments for
enforceable obligations to be. made by the Successor Agency during the fiscal period
from July 1, 2017 through June 30, 2018 ("ROPS 17.18") and submit ROPS 17-18 to
the oversight.board of the Successor Agency (the "Oversight Board") for approval.
B. Pursuant to Health and Safety Code Section 34177(I)(2)(C) and Section
34177(o)(1,),. the Successor Agency must: (i) submit the Oversight Board-approved
ROPS 17-18 to the DOF, the Office of the State Controller, and the County Auditor-
Controller no later than February 1, 2017, and (ii) post a copy of the Oversight Board-
approved ROPS 17-18 on the Successor Agency's website.
NOW, THEREFORE, THE OVERSIGHT BOARD OF THE SUCCESSOR
AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY HEREBY FINDS,
DETERMINES, RESOLVES, AND ORDERS AS FOLLOWS:
Section 1.. The above recitals are true and correct and are a substantive part
of this Resolution.
Section 2.. The Oversight Board hereby approves the proposed ROPS 17-18,
substantially in the form attached hereto as Exhibit A. Staff of the Successors Agency is
hereby authorized and directed to: (i) submit a copy of Oversight Board-approved
ROPS 17-1.8 to the DOF, the Office of the State Controller, and the County Auditor-
Controller and (H) post a copy of the Oversight Board-approved 17-18 on the Successor
Agency's Internet website (being a page on the Internet website of the City of Seal
Beach).
Section 3. The Staff of the Successor Agency are hereby authorized and
directed,jointly,and severally, to do any and all things which they may deem necessary
or advisable to effectuate this Resolution, including but not limited to requesting
additional review by the DOF and an opportunity to meet and confer on any disputed
items, and making adjustments to ROPS 17-18 pursuant to the DOF's instructions, and
any such actions previously taken are hereby ratified and confirmed.
Resolution Number OB17-01
PASSED, APPROVED AND ADOPTED by the Oversight Board at a meeting
held on the 30th day of January, 2017..
AYES: Board Members: Ingram, Hoang, Deaton, Massa-Lavitt
NOES: Board Members:None
ABSENT: Board Members:'Meyer, Thompson, Regnier
�i iksvat-4e
Vice Chair, Oversight Board
ATTEST:
Secretary, Oversight Board
STATE OF CALIFORNIA
COUNTY OF ORANGE ) SS
CITY OF SEAL BEACH
I, Robin Roberts, Secretary to the Oversight Board, hereby certify that the foregoing
resolution was duly adopted at a meeting of the Oversight Board, held on the 30th day
is 2 .
-fi IV .
Secretary, Oversight Board
EXHIBIT A
SUCCESSOR,AGENCY TO:THE SEAL BEACH REDEVELOPMENT AGENCY
RECOGNIZED,OBLIGATION PAYMENT SCHEDULE
(July 1, 2017 — June 30, 2018)
•
Seal Beach Recognized Obligation Payment Schedule CROPS 17-181-ROPS Detail
July 1,2017 through June 30,2018
Report Amounts In Whole Dollars)
A B C O E F 0 H I J R L M N 0 P O S T V V W
17.18A(July-December) 'iSPY $ba Ci+.7]-188 tJ nuary June ' 'e
Fund Sources Fund Sources-
Geehacl/A9reement Ceha0A9eemenl Total OURtandn9 ROPS 17.18 - ]1SB- — -
Ilemp Poeoed NemLOetllobdsa0on Otllgavonirye ErerWOn Oate Teem Bale Payee OesopLONPrr en trope Project Debt or Oal Oatlon Peered Total Bond Proceeds Reserve Balance OTer Funds RPTny Atlmin RPTTF Total Bona Proceeds R Baarae OP Funds RPTi AOm RPTT Tolal
s 3943075 a 11]3,9X1 S $ b - b 984,608 1 30323 $ 1 000031 S... ,, $ - f---...zit I.':' P---,--128- ,5440 S'.- 32845 $ o ea.158800
120100 Tm Plocatar OsedB Bonds'¢iced 00 or Beloee 131tOR000 13/S0.R033 Band HOItlers Va BanX OI 3410060 N 5 65528 _ fi00653, $ 808 853 49619 rlxuu•49919
33000 Ta P1maven BmdB Dods issued On 6r Belare 13/1602000 1380(1015 Bond Holden Ne Ban4 of ine eWntls od due able sal 115,000 N 5 50.031 58306 0 SB 305 1725 -4 + 715]7y25�
12/31/10 New Tors mer2aMrspayeole dtear i'Yt . `. }''g�'
eat are eYarlaoO by a 1,
These bands O a ea aeI0050a .E�3 §'°d
de emat i
first e nods ran
The bonds Wooded 0 e p' {-)
area s9010 and mmbla9on 00 the m ^
32000 Tax NbW.bn Bond A Peolessional Serees 12/20(2000 12/20/2023 Bank et New VOrk V11]I10 eaLmeled lmslee 1,823 N S 1.023 0 - 1,823 i5,,Vs 1,823
Fees/PrtNape Analysts
Hµp�� •r�'.L..°•
42000 Tao AAOSaoon Bend B Professional Services 12/200000 12/20/2015 Bank al New Toes iV 1]110 esammed mate, 1823 N S 1523 1823 b 1,523 I3. S-
Fees)PARage Aretrys 1161 vS3! - 1.1
52000 Tax Allocation Bond A Professional Services 12120/2000 12/294023 Moran Mama Services FY 17/15 est mated Trustee 1161 N 8 1.101 b -
Fe.ehedk/apeAnens. 1,161�S�V'�� 1101
62000 Tax Allacatan Bond B Professor&Bermes 12)20/2000 1X204018 WYda'1FinarcJal oeeuces FV 1]115 esLmeted ieatee 1.161 N S. 1101 S .. ,� •l
Fees/A:b a An lys. e5wnlse
7 Mote Home Perk Resets Bonds Binh Issued On or Before m31/2000 0/31/2025 Omen Bank.Trustee ROA d bonds Yr,2000Io assist 540.000 N 5 - 5 -
t0 B Parh 12131/10 Lnh Ca MO
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Project)S 2000A;R OWatory Ge N P ML ep adan 1p•
Agreement dated December 1,2000 b purchase a mobile home park vans, e'
Ale peeled'areas The
Yreemenoa0ala Ms RO A to me
S eMie pay e rental Boyne,
¢eetl s t 50,000 per yeae,m
N - .
maintern affordable troths
es
8'• 11 L ISenc Adele GOYS ]/1400] 630/2026 Richard Watson 56 n Le@ tOSJC A•e 50000 N 4 50000 250008 25000 25020■Sae awse2500B
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Recognized Obligation Payment Schedule (ROPS 17-18) -Summary
Filedfor the July 1, 2017 through June.30.:2018Period
Successor Agency: Seal'Beach
County: Orange
17.-18A-Total 17-18B:Tota I
Current,Period Requested Funding;for Enforceable Obligations(ROPS Detail) (July-December) (January-June) ROPS 17-18 Total
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): $ 1,014,931 $ 158,989 $ 1,173,920
F RPTTF _ 984,608 126;344 1,110,952
G Administrative RPTTF 30,323 32,645 62,968.
H Current Period Enforceable Obligations(A+E): $ 1,014,931 $ 158;989 $ 1,173,920
Certification of Oversight Board Chairman: aL t-'reN MC1: --ekki I I V 1 cz ( r-'
Pursuant to Section 34177(o)of the Health and Safety code, I
hereby certify that the above isa true and accurate Recognized Na �t `{/y Title
Obligation Payment Schedule for the above named successor `t /, _ , 1 44 01( " '�
agency. lsl �}/)l/ ^��"'fi w
S ature Date
Seal Beach Recognized Obligation Payment Schedule(ROPS 17-18)-Report.ofCash Balances
(Report Amounts in Whole Dollars)
Pursuant to Health.and.Safety Code section34177(I),Redevelopment Property Tax Trust Fund(RPTTF)maybe listed as a'sburce"of.pavment on the SOPS,but only to the extent no other funding source is available or
when payment from property tax revenues is required by an enforceable obli_ation. For ti s on how to com.lete the Resort of Cash.Balances'Form see Cash Balance Ti.s,Sheet.
A
Fund Sources
Bond Proceeds • Reserve Balance. Other RPTTF
Prior ROPS Prior BOPS
period balances' RPTTF
Bonds issued on and DDR RPTTF distributed as Rent, Non-Admin
or before Bonds issued on balances reserve for future grants, and
Cash Balance Information by ROPS Period 12/31/10 or after.01/01/11 retained period(s) interest etc. Admin Comments
ROPS 15-16B Actuals(01/01/16-06/30/16) -
1 Beginning Available Cash Balance(Actual 01101116)
667
2 Revenue/Income(Actual 06/30/16)
RPTTF amounts should tie to the ROPS 15-16B distribution from the
County Auditor-Controller during January 2016
1 538,320
3 Expenditures for ROPS 15-16B-Enforceable Obligations(Actual
06/30/16)
532,441
4 Retention of Available Cash Balance(Actual 06/30/16)
RPTTF amount retained should only include the amounts distributed as I
reserve for future period(s)
Funding due to the City for Oversight Board
6543 Activity was not transferred
5 ROPS 15-160 RPTTF Balances Remaining vrz�:, w)p'� -
Ls e P.,S J U �^ .4*I n No entry required ,+t ' a31
yy 214 rp. , Sri Mrly� 3fr .0.6 ..z.+(',-r..•
�. n;C
6 Ending Actual'Available:Cash Balance
C.toG=(1 +2-3-4),H=(1+2-3-4-5)
-1.-5- 3
Seal'Beach Recognized Obligation Payment Schedule (ROPS 17-18) - Notes July 1, 2017 through June 30, 2018
Item # Notes/Comments