HomeMy WebLinkAboutCC Res 6694 2016-10-24RESOLUTION NUMBER 6694
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEAL
BEACH AUTHORIZING THE EXECUTION AND DELIVERY OF
AN AMENDMENT NO. 1 TO ADMINISTRATION AND
OVERSIGHT AGREEMENT RELATING TO SEAL BEACH
SHORES MOBILE HOME PARK AND TAKING RELATED
ACTIONS
IRECITALS:
A. The former City of Seal Beach Redevelopment Agency (the
"Former Agency") was a redevelopment agency duly formed pursuant to the
Community Redevelopment Law, set forth in Part 1 of Division 24 of the
California Health and Safety Code ( "HSC ").
B. Pursuant to AB X1 26 (enacted in June 2011) and the California
Supreme Court's decision in California Redevelopment Association, et al. v. Ana
Matosantos, et al., 53 Cal. 4th 231 (2011), the Former Agency was dissolved as
of February 1, 2012, the Successor Agency was constituted as the successor
entity to the Former Agency, and the Oversight Board of Successor Agency (the
"Oversight Board ") was established.
C. AB X1 26 added Part 1.8 (commencing with Section 34161) and
Part 1.85 (commencing with Section 34170) to Division 24 the HSC. Such Parts
1.8 and 1.85, together with amendments and supplements thereto enacted from
time to time, are collectively referred to herein as the "Dissolution Act."
D. Pursuant to the Dissolution Act, the City Council of the City of Seal
Beach (the "City') adopted Resolution No. 6211, on January 9, 2012, and elected
' for the City to serve as the Successor Agency (provided, as clarified by HSC
Section 34173(g), the City and the Successor Agency are separate entities and
are not merged as the result of the City's election to serve as the Successor
Agency).
E. Before the Former Agency's dissolution, the Former Agency
entered into an Administration and Oversight Agreement, dated as of December
1, 2000 (the "Oversight Agent Agreement'), by and among the Former Agency,
LINC Community Development Corporation ( "LING ") and Rosenow Spevacek
Group Inc. ( "RSG "), as Oversight Agent and Program Administrator thereunder.
F. The Former Agency entered into the Oversight Agent Agreement in
connection with the Former Agency's issuance of its Mobile Home Park Revenue
Bonds (Seal Beach Mobile Home Park Project) Series 2000A (the "Bonds ") and
its execution and delivery of the related Indenture of Trust, dated as of December
1, 2000 (the "Indenture "), by an between the Former Agency and Union Bank of
California, N.A., as trustee. Capitalized terms used but not defined herein have
the meanings ascribed to them in the Oversight Agent Agreement, or if not in the
Oversight Agent Agreement, the Indenture.
G. Seal Beach Shores, Inc, is the successor -in- interest to LINC, as the
Borrower under the Indenture, the Oversight Agent Agreement and other related
documents.
H. A portion of the Bonds remains outstanding; and the Bonds, the
Indenture and the Oversight Agent Agreement continue to be enforceable
obligations of the Successor Agency.
I. RSG has given notice of its resignation from the positions of the
Oversight Agent and the Program Administrator.
J. The Successor Agency desires to execute an 'amendment,
substantially in the form attached as Exhibit A ( "Amendment No. 1 to Oversight
Resolution Number 6694
Agent Agreement'), to provide for the appointment of CivicStone, Inc, as the
successor Oversight Agent and the Program Administrator.
K. Seal Beach Shores, Inc. has requested that the City be added as a
signatory to the Amendment No. 1 to Oversight Agent Agreement; and the City
has determined to accommodate this request.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SEAL
BEACH, 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 Mayor (or in the absence of the Mayor, the Mayor Pro
Tem), is hereby authorized to execute and deliver, for and in the name of the
City, Amendment No. 1 to Oversight Agent Agreement, in substantially the form
attached hereto as Exhibit A, with such changes therein as the Mayor (or the
Mayor Pro Tem) executing the same may approve (such approval to be
conclusively evidenced by the execution and delivery thereof).
Section 3. The officers of the City are hereby authorized, jointly and
severally, to do all things which they may deem necessary or proper to effectuate
the purpose of this Resolution and to assist the Successor Agency with respect
to the implementation of Amendment No. 1 to Oversight Agent Agreement.
PASSED, APPROVED and ADOPTED by the City Council of the City of Seal
Beach at a regular meeting held on the 24th day of October , 2016 by the
following vote:
ltlI c. ✓lG� err `.
, Mayor
Sandra Massa - Lavitt
ATTEST:
p j �7
Robin L. Roberts, Ci y Cle —v
AYES:
Council Members:
Massa - Lavitt, Varipapa, Sloan, Miller
'
NOES:
Council Members:
None
ABSENT:
Council Members:
Deaton
ABSTAIN:
Council Members:
None
ltlI c. ✓lG� err `.
, Mayor
Sandra Massa - Lavitt
ATTEST:
p j �7
Robin L. Roberts, Ci y Cle —v
AMENDMENT NO. I
(to Adininistration and Oversight Agreement)
This Amendment No. I (this "Amendment''). elated as of May i. 2017 (the "Effective
Date -)_ is entered into by and among the Successor Agency to the Seal Beach Redevelopment
Agency (the "Successor Agency-). as successor to the former Seal Beach Redevelopment
Agency (the "Former Agency'), the City of Seal Beach. a municipal corporation duly existing
under the laws of the State of California (the 'City'). Seal Beach Shores. fnc.. a California
nonprofit public benefit corporation ( "SBS- or 'Borrower" ), as the successor -in- interest to
LINC Community Development Corporation_ a California nonprofit public benefit corporation
("LINC') and Civicstone. Inc_ a California Corporation ("CivicStonc''). as successor Oversight
A.-ent and Pio,oiam Administrator.
This Amendment amends and supplements the administration and Oversight Agreement,
dated as of December 1. 2000 (the "Original Agreement "), by and among the Former Agency.
LINC and Rosenmv Spevacek Group hhc. ("RSG °). as former Oversight Agent and Program
Administrator. Capitalized terms used but not otherwise defined herein have the nhcanings
ascribed to diem in the Original Agreement,
RECITALS
A. The Forncr Agency was a redevelopment asency duly formed pursuant to the
Community Redevelopment Law. set forth in Pan I of Division 24 of the California Health and
Safety Code (`HSC" ).
B. Pursuant to AB XI 26 (enacted, in .fume 2011 ) and the California Supreme Courts
decision in Cahloinia Redevelopnnent - fssociatiott. et al. r..1net ,14atosmttos. et al.. Cal. 4rh
2_ 1 (2011) , the Donner Aaencv was dissolved as of February 1. 2012. the Successor Agency tt as
constituted as the successor entity to the Fortner Agency. and an Oversight Board of the
successor :Agency (the "Oversight Board ") was established.
C. AB `C1 26 added Part LS (commencing with Section 33=4161) and Par i
(commencing with Section 34170) to Division 21 of the HSC. Such Pans L8 and 1.85_
including amendments and supplements enacted after AB Yt 26. are referred to herein as the
-'Dissolution Act."
D. Before the Former A,cncy's dissolution. the Former .Agency entered into the
Original Agreement in connection with the issuance of the Former Ageucy's Mobile Home Park
Rcrenue Bonds (Seal Beach Mobile Home Part: Project) Series 2000A (the "Bonds ") and the
related esecutiou and dclivery of the Indc'nlure of Trust. dated as of December I. 2000 (the
"Indenture "). by an beta -cell the Former.Agcncy and Union Bank of California_ N.A.. as trusiee.
L. A portion of the Bonds remains outstanding, and the Bonds. the Indenture and the
Original Agrcenhcnt (as amended by this Amendment) continue to be enforceable oblieations of
the Successor Agcncv.
F. RSG resigned from its positions as the Oversight Agent and the Progrurn
Administrator.
I -w, -1 i„sy5at „7 J.,,
0
G. The Parties are executing this Amendment to provide for CivicStone's assumpiion
of the roles of Oversight A.-eni and Program Administrator.
H. Pursuant to the Indenture (as set forth in the definition of "Oversight Agcnt" in
Section 1.1 thereof}_ so long as the Bonds remain outstanding. the appointment of any successor
Oversight ALent is subject to the consent of ACA. which consent is attached hereto as Exhibit A.
1. The Oversight Board adopted Resolution No. 16 -03. on November 17. 2016 (the
'Oversight Board Resolution "). approving the Successor Agency s execution and delivery of this
Amendment: and the Oversight Board Resolution became effective upon the State Department of
Finance's approval by letter dated January 6. 2017. pursuant to the Dissolution Act.
THE PARTIES, FOR AND IN CONSIDERATION OF THE :,HJTUAL
PRWIISES AND ACREEMENTS HEREIN CONTAINED DO AGREE AS FOLLOWS:
t. Administration Agreement to Remain in Effect Except as .amended Herebz.
Cxcept as expressly modified by this Amendment. the Original Agreement shall remain
unmodified and in frill force and effect in accordance with its terms. -file Original A,rctment. as
amended by this Amendment. shall be iiereinatter referred to as the ".administration
Agreement.
2. Appointment and Acceptance be CicicStone of its Duties as Program
Administrator and Oversight Agent.
(a) The Successor Agency and SBS. as the Borrower, hereby confrin and
agree to the appointment of CicicStone as the Successor Program Administrator and OAarsighl
Aacnt.
(b) CiviCStoue hereby accepts such appointment. and a;_rees to perform the
dUtieS of the Program Adtlul[stratot' and 0 ers[ght :\.rem as set forth in the Ortgmal Agreement.
and accepts the terms of the Original Agreement (except, it is clarified that: (i) Section 3.4 shall
be amended as provided below and (ii) Section 2.3 of the Original Agreement contains
representations by RSG and not CicicStone, and Ci%icSione's representation is set forth beloW in
this Amendment).
(c) It is hereby clarified and affirmed be the Parties that the annual
Administration Fee at October ?016 is S8.319 11. calculated in accordance with the definition of
Administration Fee" set forth in the Indenture. and further described in Exhibit B hereto.
CivicStone shall submit invoices for its work under the Administration Agreement to the Trustee
in amounts not exceeding the :Administration Fee (eS adjuster) pursuant to such de6niiion).
except as may be accepted in wining by the EXCCUUN c Director of [Ire Successor Agency Land an
authorized representative of the Bonowcr (tcith a copv of Such acceptance furnished to the
f RISICC).
Representations of CicicStone.
representations. �xarcuttics and acknowledgments:
CicicStonc males the lollo\cwQ,
0
�J
a) h is a corporation duly organized- ca!idly existing and in Rood standing
under the laws of the State of Califomia and has the power and authority to ally on its business
as now being conducted.
(b) it has the power to execute and deliver this Amendment and to carry out
the transactions on its part contemplated in the Administration Agreement: and it has dull:
authorized the execution and delivery of this :Amendment and its performance under the
Administration Agreement.
(c) It is independent from and not under the cone of of the Borrottei. does not
have any substantiai interest. direct or indirect- in the Borrower. and is not an officer or
employee of the Borrower.
(d) CivicStone is entering into the Administration Agreement as an
independent contractor to the Successor Agency'. Neither C'icicStone nor anv of its staff are the
employees of the Successor Agency. The Successor .- ALene% has no control over the conduct ol'
CivicStone, in its capacity as the Program Administrator and Oversight Agent. except in
accordance with the provisions o1 the Administration Agreement. the Indenture. the Loan
Agreement, the Retuimory A�uncement. the Acme% Grant .,Xmeernerit (as amended and restated
in August 2000. and the Agency Regulatory Agreement pertaining to the duties of tite Program
Adminismitor and Oversight Agent.
(e) It has teccived copies each of the Administration Agreement. the
Indenture. the Loan Aoreement. the Regulator) Agreement. the Agency Grant Agreement (as
amended and restated in August 2005). and the Aczencv Regulator}' ;Agreement (as amended in
\ugust 1_005) and it is familiar with the teens and conditions thereof and is qualified to perform
its duties as the Program Administrator and Oversight Agent pursuant to the tertus thereof.
(i) It has received from the Borrower copies of the Articles of Incorporation.
Bvla\vs and Declaration of Conditions. Coy enants and Restrictions. which tha Borrower has
represented are current operating clOCtnmenG of SBS as of the date of this Amendment.
1 4. Amendment to Section n-.d of the Original Agreement. Tile
e last sentence o
Section 5.4 of the Onginal Agreement is hereb% replaced in its entirety with the follo,.vim, I he
Notice .Address of the Propram Administrator and Oversight Agent is: 4t95 Chino Hills
Parkway `'?67. Chino Mills. CA 91 %09: Attention: Monique Eliason.
5. Certain Clarifications Regarding Annual Certifications and Files.
(a) AVith respect to the income cenilication and the annual report required to
be filed by the Bono\ser under the Regulatory yfsreement. the Filing of Such certification and
reports io the Program Adminismitor and Oversight Agent shaft be deemed to be a nansmission
to the Successor Agency at the same time_ and the Bonowcr shall not be required to make a
duplicate transmission to the Successor A f. crcv.
(b) The transmission to the Program Adminisn'ator and Oversight Agent of
file information regarding any Residential Household at the Successor Agency's request shall be
deemed to be a rransmission to the Successor Agency at the same time, and the Borrower shall
not be required to make a duplicate transmission to the SuCeesSOr AUellQ
(c) To the extent that the Program Administrator and the Oversight ,Agent
prepares and submit to the Successor !1 (,encv quarterly or annual continuing prouann
compliance summary reports required by the Regulatory Agreement or the Agency Reeulatory
Agreement, the Borrower shall be furnished with a copy of each such report.
(d) The Program Administrator and Oversight Agent small retain atl file;.
books and records received by it in cotuiection with its performance as the Program
Administrator and Oversicht Agent in —,00d order and shall make such file, books and records
available to the Successor A gencN for inspection at any time during business hours upon the
Successor Agency's request.
(e) upon the Borrower's request. the Program Administrator and ONersi;,,ht
Agent shall furnish to the Borrower copies of any certification or filings previously transmitted
by the Bonower: prodded, that the Borl- o1Ye1" shall relrmbnt'Se the Program Administrator and
Oc crsiOht .Agent for costs relating to such copies.
(f) CqPon the Successor Agene\"s or Program Aciminisirator and O�crsi_ht
Agent S request. the Borrower shall furnish to the requesting party duplicate copies of any
certification or Huns, including without iimitatiou. Household files previously u'ansmitted by
the Borrower- provided. that the requesting party shall reimburse the Borrower for costs relating
to such copies.
6 Execution in Counterparts. "Phis Amendment may be executed in Counterparts -
and all such executed counterparts shall constitute the same instrument. It shall be necessnr% to
account for only one set of such counterpart, in provim= this Amendment.
-4-
1
1: W; PINESS THEIRE( )!�, Tho Partl,'S have Caus,_d lhis Am-'ndme1j, co be
as ofihc Ellffectiv,_L T)fjj-
ti _' C; F�qE
':,"S-SOR AGENCY TO' SKAL
AGEN1r 11Y
1
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I olk�
ID,
EXHIBIT A
Consent of ACA to Appointment of Successor Oversight Agent
0
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C
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Apn137.2017
Successor Agency to the Redevelopment
Agency of The City of Seal Beach
211 Eilzhth Street
Seal Beach. CA 90740
Ladies and Gentlemen:
�IK�ryA
Reference is made to that certain Bond Insurance Policy. 'No. A'1200 -40_ yvith an Effective Date of
December ?I. 2000. pursuant to which ACA ) inanclai Guaranty Corporation ( "ACA "i insures that
portion "fich shall be One for Payment but shall be unpaid by reason of Nonpayment of the principal of
and interest on the lMobilehollie Park Revenue Bonds (Seal Beach Mobile Home Park Pmiect) Series
2000A in the original principal amount of S6.750MO (the "Bonds'-) that the Redevelopment Agency of
the City of Seal Beach (the 'Agency -) issued pursuant to. among other things. that certain Indenture of
Trust_ dated as of December 1.2001b; and bewevi the Agency and Union Bank of California. as trustee
(We - TrusteFy Capitalize& undefined term, used herein shall have the meanings ascribed to there in the
Indenture
By letter. dated October 17, 2016 (the " Request -L the Successor .Agency to the Redevelopment
Agency of the City of Seal Beach (the 'Successor :Agency").` by and through its counsel. Coo) advised
ACA that ROSCroN Spayacck Group. Inc. has notified the Successor Agency of its inwridon to resign as
the Oversight Agent and the Program Administrator: and ( +) pursuant to Section 1.1 of the Indenture.
requested ACA to consem to the Successor Agency's appointment ol'Mic5tone. Inc. as the replacenxnt
Oversight agent and the Program :administrator. Section I of the Indenture provides in pan that
'Oversight Agent' shall mean Rosenotv Spcvacck Group_ Inc. and any
successor thereto appointed by the Issuer subject to the consent of ACA
(such consent not to be unreasonably"ithhelcly tyhich entity shall also act
as the initial Oversight agent under the Administration Agreement.
A copy of the Request is attached hereto as Exhibit r\ and incorporated herein by reference.
Suhject to the terms and conditions set forth herein. ACA hereby consents to the Successor
,Agency'; appointment of CIv'1cSlonc. Inc. as the replacement Oversight Agent and the Pr gmill
Administrator solely' fix a Period of time beginning as of the date hereof and ending on the ON
anniversan of the date hereof: and thereafter. ACA may extend. modify or" thdraw its consent.
Pursuant to Ab \i ?6 tm:taed in lone 22011 land the (111donua Sumvmc Court -, decision in ("WYw taiga RaN dopareat
- Ic.... no!r,rrn,`r. dnu IlWUCUnros. drdC. J_(. 10MMVO(l:. the :xg_enc%%aslswlt'ed asot'Pebnmin I.2012, 0e
UR es SOI .-Rene) ' y.'as cpnsualled a5 the Successor bntiU 10 the ,A eticc.
The Successor Agency to The Redevelopment
A,enev ofthe Citv of Seal Buaeh
April 27, 201'
This letter and the consent set Barth herein (the "Consent`) shall be effective as ol'the date hereof
(tile "Lltective Date") provided that on or before April 28. 2017. the Successor Agenc, shall deliver to
;ACA via electronic mail a cop} of this Consent eoun.tersigned b} an awhorized signatorn ofthe Successor
Agency. If the Successor Agency fail to return this Consent within the time period specified above, the
Consent shall immediately and automatically. without an }' further action required by ACA or any other
party. have no I'orcc or effect.
In deciding to -,rant the Consent. ACA has relied on. amore other thins. the statements.
representations. information or other material provided by or on behal f of the Successor Agency or am
other parnv in suppon of the Request (Jo-,,ether. the "Representations"). ACA is not making any
representation regarding the truth. accuracy. completeness or validity of the Representations.
Furthermore, ACA reserves any and all of its rights. remedies defenses and counter- claims pursuant to the
Indenture tnd any other dOCLnlem executed in connection with the issuance or administration ofthe
Bonds (together with the Indenture. the "Bond Documents ") or as otherwise available at I'aw or equity
(together. the `Rights and Remedies'-) including. trithout limitation. those Rights and Remedies that are
available in the event ACA is made aware of additional facts or it is determined that due Representations
arc inaccurate_ incomplete or misleading.
Except as expressly set forth herein. the Bonet Documents. and all of ACA's rights and remedies
thereunder. remain unmodified and in full force and effect. are hereby ratified and confirmed and the
Successor Auencv shall continue to comply with all oftheirobligations. covenants. representations and
warranties thereunder strictly in accordance tyith the terms thereof: Except as expressly set forth herein.
the Successor Agency acknowledges and agrees that. nom itltstanding any communications. course of
conduct or reliance. ACA is nix. and Shall not be deemed to be. obliLated or committed in any manner or
to any extent to any a_n'cement to extend, modirv_ amend. or waive any of the terms of this Consent or am
ot the Bond Documents. or to waive ur forbear from enforcing any rights. powers. pricileles. remedies or
defenses under the Bond Documents or as otherwise available at law or equity.
he SUCCCsSO" Agency further represents and warrants that the Bond Documents are in lull torce
and eftcet. and ha\e not been amended modified. terminated rescinded. or revoked in \tholc on in pan
since the date of ilienr initial adoption Other than as pneviot SIN consented to be ACA. This Consent
constitutes a valid and binding obligation of the Succcssor.42enCt and is enforceable a.,minst the
Successor Al-,enc\ in accordance with its terms. provisions. covenants and conditions.
This Consent shall be applicable only to the matters stated herein. and this Consent shall be so
limited and shall not be deemed to extend to any other matter nor impair or limit am right consequent
riierccnt. ACA provides this Consent for its own benefit and in its own interest. and the SUCCeSSOr Agenc-
is solch responsible for ohtainine Stich other consents. xyaivers_ approvals or taking of such of other
actions. i Call v. as may be required in connection with the masers discussed herein. This Consent speaks
cmh as ofthe date hereof and .,XCA has no obligation to update this Consent should cll'CnnUtanee5 chetnge
thereniItcr_ This Consent is intended for use in connection t ". ith the Request and shall not to be relied upnn
tea' any Other purpose.
r
J
The Successor Agency % to The Redevelopment
Agency of City of Seal Beach
April 37. 3017
The Successor Agency hcrobc unconditionallc and irrevocably releases. discharges and acquits
ACA and its officers. directors. successors assigns. parent. subsidiaries. employees. affiliates.
representatives. servants and counsel (each_ an ACA Part%'*) from and aLainst any and all claims.
demands. causes of action. suits. debts. sums of money, accounts. covenants. contracts. controversies.
agreements. promises. variances. dim aLes- e.vpenso, and liabilities. known cr unknown. at late or in
equity. and irrevocably tvaives and relinquishes ant and all knot ri rights of setoff. counterclaims and
defenses. contingent or absolute. liquidated or unliquidated or otherwise. arising from or related to any act
or omission of any ACA Parry that has occurred on or before the date hereof. ii-respectite of whether such
claims arise out of contract. tort. violation of law> or regulations or otherwise. which the Suecess(n'
Agency ever had or note has against any ACA Pang tor. upon or by reason of any matter. cause
Mlatsoever from the beeinnino of the world to and includinQ through the date hereof arising out oC in
connection with. or related to this Consent or am notices. conversations. neLotiations. disputes or
litioation regardinu this Consent. Nom ithstandinu the foregoing_, nothirn-, contained herein shall be
construed to release any person with respect to any unlatvfttl conduct or willful misconduct.
The Successor Aflcncv Shall indcninifv ACA and its officers. directors. successor. assisns. parent_
subsidiaries. employees. affiliates. representatives_ servants and ccuntsel leach an' Indemnitee'). against.
and hold each Inclenuiitee harmless from. any and all losses. claims. dama_>es. liabilities and expenses
reasonably related thereto. including reasonable fees. chatues and disbursements ofone firm of outside
counsel for IndemniteeS. incurred by or asserted against an_% Indemnitee arising out cif. in connection �%ith.
or as a result of( i) the preparation. execution. delivery and administration of this Consent or any other
agreement or instrument contemplated hereby or {ii) any actual or prospective claim. litigation.
investigation or proceeding relating to ant of the foregoing. whether based on contract. tort or am Outer
theorc. and regardless of whether mtw Indemnitee is a partv- thereto (and regardless of whether such matter
is initiated by the Successor:Aecney or any other Person). proi ided. however, that each Indemnitee
emains liable for its otvn gross negligence or willful misconduct.
This Consent shall be governed by. and conSLrUCd and interpreted in accordance frith, the tau -s of
the State of %w NC York tt ithout rCgard to any conflicts of laths rules.
I "he Successor Aecncy to The Redevelopment
A�zeney of the Cite of Seal Beaeh
hafle 4
April 21. 201 i
Please indicate your acceptance and a__reement with the terms and conditions hereof by executing
this Consent as provided bclo%c and rctUrning the executed signature pages to mN attention at the address
set Forth above.
Very truly yours.
ACA FINANCIAL GUARANTY CORPOR:ITION
13v:
ACCEPT[') AND AGREED TO BY:
Name: Maria Chene
"hide: Manaeine Director
-H IF SUCCESSOR AGFNCY to
I "HE REDEVILOPF%MENTAGENCY OF TFIfi CITY OF SEAL BEACH
B%:_ i
N i m a -
rle: ��lu -�►V� ��e�'�
C
n
d
E,
ExHTBIr B
Administration Fee as of October 2016
Tire Indenture provides: "Adriinistiation Pee" mean, an amount equal to S500 per month Such
amount to be increased annually on December 15. commencing December 15. 2001_ to reflect
90% of any increase in the Consumer Price index All Urban Consumers for the California
CN/iSA in which the Redevelopment Aecncy of the City of Seal Beach is located (base year
1982 -1984 = 100), published by the United Scares Department of Labor. Bureau of Labor
Statistics (.'BLS "). if the base IS changed, the CFI tied Shall be converted according to rile
coavelsion factor provided by the BLS.
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'
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ent Date
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Exhibit A
SCOPE OF SERVICES & FEE SCHEDULE
Summary
Aside from its duties as Program Administrator and Oversight Agent for the Regulatory
Agreement and Declaration of Restrictive Covenants, CivicStone will perform any and
all other related work as requested by City Staff.
Additionally, CivicStone will conduct a thorough analysis of the documents related to
Program Administration & Oversight Agent including: the Regulatory Agreement and
Declaration of Restrictive Covenants, the Amendment of Regulatory Agreement„ the
Administration and Oversight Agreement, the Indenture of Trust, and the Amended and
Restated Loan and GrantAgreement and create a comprehensive compliance matrix to
ensure future regulatory compliance. All current areas of non - compliance will be
identified with an action plan to bring them back into compliance, including but not
limited to:
File repair: CivicStone will compile documentation from Seal Beach Shores
Mobile Home Park, J &H Asset Property Mgmt., RSG, The Loftin Firm as well as
contact individual residents to complete and maintain a set of master files.
Where documents are missing or unavailable, current compliance documents will
be included to verify eligibility. Additionally, CivicStone will maintain
comprehensive files on all Qualified Spaces from the date of this City Contract
forward.
Update non - compliant leases & forms: CivicStone will work closely with Seal
Beach Shores Mobile Home Park and appropriate legal counsel to fix lease
Agreements and replace the existing Agreements with corrected ones; or have
Addenda created to remove the Regulatory Agreement conflicts.
"Ramp -Up" Funds: CivicStone will investigate the source of the funds as well as the
purpose for the distribution to selected residents of Seal Beach Shores Mobile Home
Park.
Policies & Procedures Manual: CivicStone will create an extensive Policy &
Procedures Manual that will identify the specific duties and responsibilities of each entity
involved in this Regulatory Agreement; the milestones and deadlines; action items;
provide check lists and applicable forms and Exhibits.
Seal Beach Mobile Home Park Revenue Bond Database: CivicStone will design and
populate a custom database to monitor the data and regulation compliance. CivicStone
will process and historically record all Qualified Spaces and provide the needed reports
to the City as well as all appropriate parties in the Regulatory Agreement.
a Ccr Cra) Ave; ,urce 107, Chm, LA 9:710 Pt*" 9V}0$5 -q.:9 PA-. W9- 005.4544 Page 2 of 3
0
An estimation of hours required to resolve the non - compliant areas has been factored
into this Scope of Work for budgetary purposes. We anticipate this Scope of Work for
the City of Seal Beach to rest under $20,000 for the first 12 month period. However,
often non - compliant issues are easy to diagnose, but the depth and breadth of the
underlying problems and needed actions to resolve those problems are unknown until
work commences and uncovers the ease or complexity. Consequently, CivicStone's
recommended actions in these areas will be billed on an hourly basis with frequent
reviews by the City of Seal Beach. The billing rates are as follows:
Adam Eliason CEO: $120 per hour
Monique Eliason Project Coordinator: $95 per hour
Administration Specialist: $50 per hour
0
its" Co,fti A. C. Su¢e iOi, Chjrfl , .:A 9i' IO Pt nt •(WS O::ti FA, 905- WICtF,45
Page 3 of 3
H!
Resolution Number 6694
STATE OF CALIFORNIA }
COUNTY OF ORANGE } SS
CITY OF SEAL BEACH }
I, Robin L. Roberts, City Clerk to the City of Seal Beach, do hereby certify that
the foregoing resolution is the original copy of Resolution Number 6694 on file
in the office of the City Clerk of the City of Seal Beach, passed, approved, and
' adopted by the City Council of the City of Seal Beach at a regular meeting held
on the 24th day of October , 2016.
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