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Home My WebLink AboutSA Packet_01142019SPECIAL SUCCESSOR AGENCY MATTERS CALL TO ORDER COUNCIL ROLL CALL ORAL COMMUNICATIONS At this time members of the public may address the Council regarding any items within the subject matter jurisdiction of the City Council.Pursuant to the Brown Act, the Council cannot discuss or take action on any items not on the agenda unless authorized by law.Matters not on the agenda may,at the Council's discretion,be referred to the City Manager and placed on a future agenda. Those members of the public wishing to speak are asked to come forward to the microphone and state their name for the record.All speakers will be limited to a period of five (5)minutes.Speakers must address their comments only to the Mayor and entire City Council,and not to any individual,member of the staff or audience. Any documents for review should be presented to the City Clerk for distribution. CONSENT CALENDAR Items on the consent calendar are considered to be routine and are enacted by a single motion with the exception of items removed by Council Members. A.Approval of Successor Agency Minutes for September 10,2018 -Approve the minutes for the regular meeting of the Successor Agency of the former Seal Beach Redevelopment Agency held on September 10, 2018. B.Demands on City Treasury (Fiscal Year 2019)–January 14,2019 -Ratification C.Administrative Budgets for the Six-month Fiscal Periods from July 1, 2019 through December 31,2019 and from January 1,2020 through June 30,2020 -That the Governing Board of the Successor Agency to the Seal Beach Redevelopment Agency (the “Successor Agency”)adopt Resolution SA 19-01,approving administrative budgets for the six-month fiscal periods from July 1,2019 through December 31,2019 (“Administrative Budget 19-20A”)and from January 1,2020 through June 30,2020 (“Administrative Budget 19-20B”). D.Recognized Obligation Payment Schedule for Fiscal Year from July 1, 2019 through June 30,2020 -That the Governing Board of the Successor Agency to the Seal Beach Redevelopment Agency (the “Successor Agency”)adopt Resolution SA 19-02,approving the Recognized Obligation Payment Schedule (“ROPS”)for the period from July 1,2019 through June 30,2020 (“ROPS 19-20”). ADJOURNMENT Adjourn the Successor Agency to a date uncertain. SA Agenda Item A AGENDA STAFF REPORT DATE:January 14, 2019 TO:Honorable Chair and Board Members THRU:Jill R. Ingram, Executive Director FROM:Dana Engstrom, Acting Secretary SUBJECT:Approval of Successor Agency Minutes for September 10, 2018 ________________________________________________________________ SUMMARY OF REQUEST: Approve the minutes for the regular meeting of the Successor Agency of the former Seal Beach Redevelopment Agency held on September 10, 2018. BACKGROUND AND ANALYSIS: This section does not apply to this item. ENVIRONMENTAL IMPACT: There is no environmental impact related to this item. LEGAL ANALYSIS: No legal analysis is required for this item. FINANCIAL IMPACT: There is no financial impact for this item. RECOMMENDATION: Approve the minutes for the regular meeting of the Successor Agency of the former Seal Beach Redevelopment Agency held on September 10, 2018. SUBMITTED BY: NOTED AND APPROVED: Dana Engstrom Jill R. Ingram Dana Engstrom, Acting Secretary Jill R. Ingram, City Manager ATTACHMENTS: A. Minutes Seal Beach, California September 10, 2018 The Successor Agency met at 8:42 p.m. in the City Council Chambers with Chair Varipapa calling the meeting to order. ROLL CALL Present: Chair Varipapa Agency Members: Massa-Lavitt, Moore, Sustarsic, Deaton Absent: None City Staff: Craig A. Steele, City Attorney/Legal Counsel Jill R. Ingram, City Manager/Executive Director Patrick Gallegos, Assistant City Manager Chief Joe Miller, Seal Beach Police Department Interim Community Development Director, Crystal Landavazo Chief Joe Bailey, Marine Safety/Lifeguard Victoria L. Beatley, Director of Finance/City Treasurer Steve Myrter, Director of Public Works Robin L. Roberts, City Clerk/Secretary ORAL COMMUNICATIONS Chair Varipapa opened oral communications. Speakers: None. There being no speakers, Chair Varipapa declared oral communications closed. CONSENT CALENDAR Deaton moved, second by Massa-Lavitt, to approve Items 1, 2, and 3 of the recommended actions on the consent calendar as presented. AYES: Varipapa, Deaton, Massa-Lavitt, Moore, Sustarsic NOES: None ABSENT: None Motion carried 1. Approval of the Successor Agency Minutes for July 23, 2018 – Approve the minutes of the regular meeting of the Successor Agency of the former Seal Beach Redevelopment Agency held on July 23, 2018. 2. Demands on City Treasury (Fiscal Year 2019) – September 10, 2018 – Ratification. 3. Amendment No. 2 to Administration and Oversight Agreement to Appoint a Successor Oversight Agent in Connection with Bond and Agency Regulatory Agreements for Seal Beach Shores Mobile Home Park – That the Successor Agency Board adopt Resolution 18-03 authorizing the execution and delivery of Amendment No. 2 to Administration and Page 2 – Successor Agency 9/10/18 Oversight Agreement relating to Seal Beach Shores Mobile Home Park, and taking related actions. ADJOURNMENT With no objections, Chair Varipapa adjourned the meeting at 8:44 p.m. to a date uncertain immediately following the City Council meeting. ___ Dana Engstrom, Deputy City Clerk City of Seal Beach Approved: ____ Mike Varipapa, Chair Attested: _____ Dana Engstrom, Deputy City Clerk Successor Agency for the Seal Beach Redevelopment Agency Fiscal 2019 Warrant Listing for Council Meeting January 14,2019 Approve by Minute Order Demands on Treasury: Warrants-A/P: 1014- 1016 12,253.16 Total 12,253.16 Year-to-Date: $ 954,411.39 Note: Year-to-date amounts are actual cash disbursements and do not reflect actual expenditures due to year-end accruals. Respectfully su'mined by: A Po„ n o i z®I9 AAVictoria L.Beatley Date: Director of Finance/City Treasurer City of Seal Beach Accounts Payable Printed:01/07/2019 11:50 User:mtran Checks by Date-Detail By Check Date Detail Check Amount Check No: 1014 Check Date: 10/22/2018 Vendor: RICO2 Richards Watson&Gershon 218795 Services August 2018 09/27/2018 5,717.56 218409 Services July 2018 08/27/2018 899.30 218410 Services July 2018 08/27/2018 2,096.00 218411 Services July 2018 08/27/2018 216.76 218794 Services August 2018 09/27/2018 1,304.50 Check Total: 10,234.12 Date Totals: 10,234.12 Report Total: 0.00 10,234.12 Page I City of Seal Beach Accounts Payable Printed:01/07/2019 11:52 User:mtran Checks by Date-Detail By Check Date Detail Check Amount Check No: 1015 Check Date: 11/15/2018 Vendor: BNY01 The Bank of New York Mellon 252-214406 Redev.Agency Tax Allocation Series2000B 10/15/2018 100.00 Check Total: 100.00 Check No: 1016 Check Date: 11/15/2018 Vendor: RICO2 Richards Watson&Gershon 219198 Services Sept 2018 10/25/2018 514.68 219199 Services Sept 2018 10/25/2018 426.00 219200 Services Sept 2018 10/25/2018 978.36 Check Total: 1,919.04 Date Totals: 2,019.04 Report Total: 0.00 2,019.04 Page 1 SA Agenda Item C AGENDA STAFF REPORT DATE:January 14, 2019 TO:Honorable Chair and Board Members THRU:Jill R. Ingram, Executive Director FROM:Victoria L. Beatley, Finance Officer SUBJECT:Administrative Budgets for the Six-month Fiscal Periods from July 1, 2019 through December 31, 2019 and from January 1, 2020 through June 30, 2020 ________________________________________________________________ SUMMARY OF REQUEST: That the Governing Board of the Successor Agency to the Seal Beach Redevelopment Agency (the “Successor Agency”) adopt Resolution SA 19-01, approving administrative budgets for the six-month fiscal periods from July 1, 2019 through December 31, 2019 (“Administrative Budget 19-20A”) and from January 1, 2020 through June 30, 2020 (“Administrative Budget 19-20B”). BACKGROUND AND ANALYSIS: Pursuant to Section 34177(j) of the California Health and Safety Code (“HSC”), the Successor Agency is required to prepare a proposed administrative budget for each six-month fiscal period, which must be submitted to the Oversight Board for approval. Each proposed administrative budget must include all of the following: (1) estimated amounts for Successor Agency administrative costs for the applicable six-month fiscal period; (2) proposed sources of payment for the administrative costs; and (3) proposals for arrangements for administrative and operations services provided by the City of Seal Beach (the “City”) or another entity. HSC Section 34177 is unclear regarding the required timing for the submission of the proposed administrative budgets to the Oversight Board. However, because the Successor’s Agency’s administrative expenditures also have to be reflected on the Successor Agency’s Recognized Obligation Payment Schedules (“ROPS”), the administrative budgets should be consistent. HSC Section 34177(o) provides that the Successor Agency must submit an Oversight Board-approved ROPS for Fiscal Year 2019-20 (“ROPS 19-20”) to the State Department of Finance and the County Auditor-Controller no later February 1, 2019. ROPS 19-20 is being presented to the Successor Agency pursuant to a separate resolution. ENVIRONMENTAL IMPACT: There is no environmental impact associated with adoption of the attached Resolution. LEGAL ANALYSIS: General Counsel has reviewed and approved as to form. FINANCIAL IMPACT: Under HSC Section 34171(b), the “Administrative Cost Allowance” is the maximum amount of administrative costs that may be paid by the Successor Agency from property tax revenues allocated by the County Auditor-Controller (i.e., disbursements from Redevelopment Property Tax Trust Fund (“RPTTF”)). The Successor Agency’s annual administrative costs (except for administrative costs paid from bond proceeds or grant funds) must not exceed 50 percent of the total RPTTF moneys distributed to pay enforceable obligations in the preceding fiscal year (exclusive of the Successor Agency’s Administrative Cost Allowance and loan repayments made to the City for loans re-established pursuant to HSC Section 34191.4 (the “City Loans”) during the preceding fiscal year). Subject to the foregoing, the Administrative Cost Allowance is the greater of: (i) $250,000 for the fiscal year, or (ii) up to 3 percent of the actual RPTTF moneys distributed to the Successor Agency by the County Auditor-Controller in the preceding fiscal year for payment of approved enforceable obligations, reduced by the Successor Agency’s administrative cost allowance and repayments made to the City Loans during the preceding fiscal year. RECOMMENDATION: That the Governing Board of the Successor Agency to the Seal Beach Redevelopment Agency (the “Successor Agency”) adopt Resolution SA 19-01, approving administrative budgets for the six-month fiscal periods from July 1, 2019 through December 31, 2019 (“Administrative Budget 19-20A”) and from January 1, 2020 through June 30, 2020 (“Administrative Budget 19-20B”). SUBMITTED BY: NOTED AND APPROVED: Victoria L. Beatley Jill R. Ingram Victoria L. Beatley, Finance Officer Jill R. Ingram, Executive Director ATTACHMENTS: A. Resolution SA 19-01 B. Administrative Budget July 1 to December 31, 2018 C. Administrative Budget January 1 to June 30, 2020 D. OB Staff Report Administrative Budget E. OB Resolution Administrative Budget RESOLUTION SA 19-01 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SUCCESSOR AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT AGENCY APPROVING PROPOSED ADMINISTRATIVE BUDGETS FOR THE SIX-MONTH FISCAL PERIODS FROM JULY 1, 2019 THROUGH DECEMBER 31, 2019 AND FROM JANUARY 1, 2020 THROUGH JUNE 30, 2020, AND TAKING RELATED ACTIONS RECITALS: A. Pursuant to Health and Safety Code Section 34177(j), the Successor Agency to the Seal Beach Redevelopment Agency (the “Successor Agency”) must prepare a proposed administrative budget for each six-month fiscal period (commencing each January 1 and July 1) and submit each proposed administrative budget to the oversight board of the Successor Agency (the “Oversight Board”) for approval; and B. Each proposed administrative budget shall include all of the following: (1) estimated amounts for Successor Agency administrative costs for the upcoming six-month fiscal period; (2) proposed sources of payment for the costs identified in (1); and (3) proposals for arrangements for administrative and operations services provided by the City of Seal Beach or another entity; and C. Pursuant to Health and Safety Code Section 34177(k), the Successor Agency is required to provide administrative cost estimates, from its approved administrative budget that are to be paid from property tax revenues deposited in the Redevelopment Property Tax Trust Fund, to the County Auditor- Controller for each six-month fiscal period; and D. There has been presented to this Board for approval, the Successor Agency’s proposed administrative budgets for the six-month fiscal periods from July 1, 2019 through December 31, 2019 (“Administrative Budget 19-20A”) and from January 1, 2020 through June 30, 2020 (“Administrative Budget 19-20B,” together with Administrative Budget 19-20A, the “Administrative Budgets”); NOW, THEREFORE, THE BOARD OF DIRECTORS 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. Resolution SA 19-01 Section 2. Administrative Budget 19-20A, substantially in the form attached hereto as Exhibit A, is hereby approved. Section 3. Administrative Budget 19-20B, substantially in the form attached hereto as Exhibit B, is hereby approved. Section 4. The Executive Director of the Successor Agency, in consultation with the Successor Agency’s legal counsel, may modify the Administrative Budgets as the Executive Director or the Successor Agency’s legal counsel deems necessary or advisable. Section 5. The officers and other staff members 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 and the Administrative Budgets and any such actions previously taken are hereby ratified and confirmed. PASSED, APPROVED and ADOPTED by the Successor Agency to the Seal Beach Redevelopment Agency at a regular meeting held on the _14th_ day of January, 2019 by the following vote: AYES: Board Members ____________________________________________ NOES: Board Members ___________________________________________ ABSENT: Board Members __________________________________________ ABSTAIN: Board Members __________________________________________ Thomas Moore, Chair ATTEST: Dana Engstrom, Secretary Resolution SA 19-01 EXHIBIT A SUCCESSOR AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY ADMINISTRATIVE BUDGET 19-20A (July 1, 2019 through December 31, 2019) Resolution SA 19-01 EXHIBIT B SUCCESSOR AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY ADMINISTRATIVE BUDGET 19-20B (January 1, 2020 through June 30, 2020) Resolution SA 19-01 STATE OF CALIFORNIA } COUNTY OF ORANGE } SS CITY OF SEAL BEACH } I, Dana Engstrom, Secretary of the Successor Agency to the Seal Beach Redevelopment Agency, do hereby certify that the foregoing resolution is the original copy of Resolution SA 19-01 on file in the office of the City Clerk of the City of Seal Beach, passed, approved, and adopted by the Successor Agency to the Seal Beach Redevelopment Agency at a regular meeting held on the _14th_ day of January, 2019. Dana Engstrom, Secretary CATEGORY I PROPOSED ADMINISTRATIVE FUNDING DESCRIPTION BUDGET SOURCE Staffing for the Successor Agency City Manager 285 Administrative Allowance City Clerk 165 Administrative Allowance Accountant 112 Administrative Allowance Accounting Technician - Accounts Payable 101 Administrative Allowance Accounting Technician - Payroll 95 Administrative Allowance Finance Manager 164 Administrative Allowance Director of Finance 324 Administrative Allowance Staffing for the Oversight Board City Manager - Administrative Allowance City Clerk - Administrative Allowance Finance Manager - Administrative Allowance Director of Finance - Administrative Allowance Overhead Cost Services/Facilities 55 Administrative Allowance TOTAL 1,300 The items listed below include amounts to be reimbursed by the Successor Agency to the City of Seal Beach, pursuant to a Cooperative Agreement for Advance and Reimbursement of Administrative, Overhead and other Expenses (“Cooperative Agreement”), by and between the City and the Successor Agency, in the form approved by the Successor Agency Board pursuant to Resolution No. SA 12‐10 , adopted on April 9, 2012. Pursuant to the Cooperative Agreement, the Successor Agency reimburses the City for all costs advanced by the City for the administration and operation of the Successor Agency, including but not limited to value of staff, consultants and legal counsel, office space, equipment, supplies, insurance and other services and facilities. Exhibit A SUCCESSOR AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT AGENCY Fiscal Period July 1 - December 31, 2019 ADMINISTRATIVE BUDGET Exhibit A SUCCESSOR AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT AGENCY Fiscal Period July 1 - December 31, 2019 ADMINISTRATIVE BUDGET CATEGORY II PROPOSED ADMINISTRATIVE FUNDING DESCRIPTION BUDGET SOURCE Legal counsel 15,000 Administrative Allowance Trustee Fees - Administrative Allowance Arbitrage Analysis - Administrative Allowance - Administrative Allowance TOTAL 15,000 CATEGORY III PROPOSED ADMINISTRATIVE FUNDING DESCRIPTION BUDGET SOURCE Staff - RPTTF Legal counsel - RPTTF Contract Expenses - RPTTF TOTAL - Health & Safety Code Section 34177 (k) states: “Provide administrative cost estimates, from its approved administrative budget that are to be paid from property tax revenues deposited in the Redevelopment Property Tax Trust Fund, to the county auditor‐controller for each six‐month fiscal period.” Listed below are the administrative cost items that the Successor Agency anticipates to pay from property tax revenues deposited in the Redevelopment Property Tax Trust Fund. These items may include amounts to be reimbursed by the Successor Agency pursuant to the Cooperative Agreement. Pursuant to Health and Safely Code Section 34177(d)(1)(F), contracts necessary for the administration and operation of the Successor Agency are enforceable obligations. Accordingly, amounts to be paid by the Successor Agency to third party vendors for equipment and supplies necessary for the administration of the Successor Agency and auditors, legal counsel and other consultants for services to the Successor Agency are listed as payments for enforceable obligations on the Recognized Obligation Payment Schedules. The Successor Agency anticipates to pay such costs from property tax revenues deposited in the Redevelopment Property Tax Trust Fund. Costs allocable to particular projects are considered part of the project costs. Listed below are administrative costs that are allocable to projects and not included in the tables above. These items may include amounts to be reimbursed by the Successor Agency pursuant to the Cooperative Agreement. Exhibit B SUCCESSOR AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT AGENCY ADMINISTRATIVE BUDGET Fiscal Period January 1 - June 30, 2020 CATEGORY I The items listed below include amounts to be reimbursed by the Successor Agency to the City of Seal Beach, pursuant to a Cooperative Agreement for Advance and Reimbursement of Administrative, Overhead and other Expenses (“Cooperative Agreement”), by and between the City and the Successor Agency, in the form approved by the Successor Agency Board pursuant to Resolution No. SA 12-10 , adopted on April 9, 2012. Pursuant to the Cooperative Agreement, the Successor Agency reimburses the City for all costs advanced by the City for the administration and operation of the Successor Agency, including but not limited to value of staff, consultants and legal counsel, office space, equipment, supplies, insurance and other services and facilities. PROPOSED ADMINISTRATIVE FUNDING DESCRIPTION BUDGET SOURCE Staffing for the Successor Agency City Manager 285 Administrative Allowance City Clerk 165 Administrative Allowance Accountant 112 Administrative Allowance Accounting Technician - Accounts Payable 101 Administrative Allowance Accounting Technician - Payroll 95 Administrative Allowance Finance Manager 164 Administrative Allowance Director of Finance 324 Administrative Allowance Staffing for the Oversight Board City Manager -Administrative Allowance City Clerk -Administrative Allowance Finance Manager -Administrative Allowance Director of Finance -Administrative Allowance Overhead Cost Services/Facilities 55 Administrative Allowance TOTAL 1,300 CATEGORY II Health & Safety Code Section 34177 (k) states: “Provide administrative cost estimates, from its approved administrative budget that are to be paid from property tax revenues deposited in the Redevelopment Property Tax Trust Fund, to the county auditor-controller for each six-month fiscal period.” Listed below are the administrative cost items that the Successor Agency anticipates to pay from property tax revenues deposited in the Redevelopment Property Tax Trust Fund. These items may include amounts to be reimbursed by the Successor Agency pursuant to the Cooperative Agreement. Pursuant to Health and Safely Code Section 34177(d)(1)(F), contracts necessary for the administration and operation of the Successor Agency are enforceable obligations. Accordingly, amounts to be paid by the Successor Agency to third party vendors for equipment and supplies necessary for the administration of the Successor Agency and auditors, legal counsel and other consultants for services to the Successor Agency are listed as payments for enforceable obligations on the Recognized Obligation Payment Schedules. The Successor Agency anticipates to pay such costs from property tax revenues deposited in the Redevelopment Property Tax Trust Fund. PROPOSED ADMINISTRATIVE FUNDING DESCRIPTION BUDGET SOURCE Legal counsel 15,000 Administrative Allowance Trustee Fees 6,073 Administrative Allowance Arbitrage Analysis -Administrative Allowance -Administrative Allowance TOTAL 21,073 CATEGORY III Costs allocable to particular projects are considered part of the project costs. Listed below are administrative costs that are allocable to projects and not included in the tables above. These items may include amounts to be reimbursed by the Successor Agency pursuant to the Cooperative Agreement. PROPOSED ADMINISTRATIVE FUNDING DESCRIPTION BUDGET SOURCE Staff -RPTTF Legal counsel -RPTTF Contract Expenses -RPTTF TOTAL - Exhibit B SUCCESSOR AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT AGENCY ADMINISTRATIVE BUDGET Fiscal Period January 1 - June 30, 2020 Orange Countywide Oversight Board Date: 1/22/2019 From: Successor Agency to the Seal Beach Redevelopment Agency Subject: Resolution of the Countywide Oversight Board Approving Proposed Administrative Budgets for the Six-Month Fiscal Periods from July 1, 2019 through December 31, 2019, and from January 1, 2020 through June 30, 2020 and taking Related Actions Recommended Action: Adopt resolution to approve proposed administrative budgets for the fiscal period from July 1, 2019 through December 31, 2019 (“Administrative Budget 19-20A”) and the fiscal period from January 1, 2020 through June 30, 2020 (“Administrative Budget 19-20B”) of the Successor Agency and taking related actions. ______________________________________________________________________________ Pursuant to 34177(j) of the California Health and Safety Code (“HSC”), the Successor Agency is required to prepare a proposed administrative budget for each six-month fiscal period, which must be submitted to the Oversight Board for approval. Each proposed administrative budget must include all of the following: (1) estimated amounts for Successor Agency administrative costs for the applicable six-month fiscal period; (2) proposed sources of payment for the administrative costs; and (3) proposals for arrangements for administrative and operations services provided by the City of Seal Beach (the “City”) or another entity. HSC Section 34177(o) provides that the Successor Agency must also submit an Oversight Board-approved ROPS for fiscal year 2019-20 (“ROPS 19-20”) to the State Department of Finance (“DOF”) and the County Auditor-Controller no later February 1, 2019. A proposed ROPS 19-20 is being presented as a separate agenda item for the Oversight Board’s consideration and approval. Pursuant to HSC Section 34179(h)(1), Oversight Board resolutions approving the Successor Agency’s administrative budgets are not required to be submitted to the DOF for approval. Therefore, this Resolution will become effective immediately upon adoption. Impact on Taxing Entities: The sum of $38,673 requested pursuant to Administrative Budget 19-20A and the Administrative Budget 19-20B is within the amount allowed pursuant to the dissolution law and is consistent with the prior approved ROPS and Administrative Budgets. The County Auditor-Controller will distribute to the taxing entities residual amounts from the RPTTF after: (i) deduction for County administrative expenses, (ii) pass-through payments, and (iii) enforceable obligations and administrative costs, as approved on the ROPS. Orange Countywide Oversight Board Attachments: Attachment 1 -- Proposed Oversight Board Resolution (with Exhibit A --Administrative Budget 19-20A; and Exhibit B -- Administrative Budget 19-20B) Attachment 2 -- Resolution of the Successor Agency RESOLUTION 19-01 A RESOLUTION OF THE ORANGE COUNTYWIDE OVERSIGHT BOARD WITH OVERSIGHT OF THE SUCCESSOR AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY APPROVING PROPOSED ADMINISTRATIVE BUDGETS FOR THE SIX-MONTH FISCAL PERIODS FROM JULY 1, 2019 THROUGH DECEMBER 31, 2019, AND FROM JANUARY 1, 2020 THROUGH JUNE 30, 2020 AND TAKING RELATED ACTIONS WHEREAS, pursuant to Health and Safety Code Section 34179(j), commencing on and after July 1, 2018, the Orange Countywide Oversight Board (the “Oversight Board”) has jurisdiction over the Successor Agency to the Seal Beach Redevelopment Agency (the “Successor Agency”); and WHEREAS, pursuant to Health and Safety Code Section 34177(j), the Successor Agency must prepare a proposed administrative budget for each six-month fiscal period (commencing each January 1 and July 1) and submit each proposed administrative budget to the Oversight Board for approval; and WHEREAS, the Successor Agency’s proposed administrative budgets for the six-month fiscal periods from July 1, 2019 through December 31, 2019 (“Administrative Budget 19-20A”) and from January 1, 2020 through June 30, 2020 (“Administrative Budget 19-20B” and, together with Administrative Budget 19-20A, the “Administrative Budgets”) have been presented to this Oversight Board for approval; NOW, THEREFORE, BE IT RESOLVED THAT THE ORANGE COUNTYWIDE OVERSIGHT BOARD does hereby resolve 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 Administrative Budget 19-20A, substantially in the form attached hereto as Exhibit A. Section 3. The Oversight Board hereby approves Administrative Budget 19-20B, substantially in the form attached hereto as Exhibit B. Section 4. 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 and the Administrative Budgets, including making any adjustment to the proposed Administrative Budgets to make them consistent with the Successor Agency's Recognized Obligation Payment Schedule for fiscal year 2019-20 (as such Recognized Obligation Payment Schedule is approved by the State Department of Finance). The foregoing was passed and adopted by the following vote of the Orange Countywide Oversight Board on the 22nd day of January, 2019. YES: Board Members: __________________________________________________ NOES: Board Members: __________________________________________________ EXCUSED: Board Members: __________________________________________________ ABSTAINED Board Members: __________________________________________________ BRIAN PROBOLSKY CHAIRMAN STATE OF CALIFORNIA ) ) COUNTY OF ORANGE ) I, ANTHONY KUO, Clark of the Orange Countywide Oversight Board, Orange County, California, hereby certify that a copy of this document has been delivered to the Chairman of the Board and that the above and foregoing Resolution was duly and regularly adopted by the Orange Countywide Oversight Board. IN WITNESS WHEREOF, I have hereto set my hand ANTHONY KUO Clerk Orange Countywide Oversight Board Resolution No: 19-_____ Agenda Date: Item No.: EXHIBIT A SUCCESSOR AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY ADMINISTRATIVE BUDGET 19-20A EXHIBIT B SUCCESSOR AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY ADMINISTRATIVE BUDGET 19-20B SA Agenda Item D AGENDA STAFF REPORT DATE:January 14, 2019 TO:Honorable Chair and Board Members THRU:Jill R. Ingram, Executive Director FROM:Victoria L. Beatley, Finance Officer SUBJECT:Recognized Obligation Payment Schedule for Fiscal Year from July 1, 2019 through June 30, 2020 ________________________________________________________________ SUMMARY OF REQUEST: That the Governing Board of the Successor Agency to the Seal Beach Redevelopment Agency (the “Successor Agency”) adopt Resolution SA 19-02, approving the Recognized Obligation Payment Schedule (“ROPS”) for the period from July 1, 2019 through June 30, 2020 (“ROPS 19-20”). BACKGROUND AND ANALYSIS: Pursuant to Section 34177 of the California Health and Safety Code (“HSC”), the Successor Agency must annually prepare a ROPS listing the anticipated payments for enforceable obligations to be made from July 1 through the following June 30. Deadline for ROPS Submission All ROPS must be approved by the Oversight Board. Previously, each successor agency in the State had an individual Oversight Board. As of July 1, 2018, the individual oversight boards were dissolved by law. All successor agencies in Orange County are now under the jurisdiction of a consolidated Countywide Oversight Board. The Successor Agency’s ROPS 19-20 will be submitted to the Countywide Oversight Board for consideration at its January 22, 2019 meeting. Each Oversight Board-approved ROPS must be submitted to the State Department of Finance (the “DOF”) for review. HSC Section 34177 also requires the Successor Agency to submit an Oversight Board-approved ROPS 19-20 to the DOF and to the County Auditor-Controller no later than February 1, 2019. A copy of the Oversight Board-approved ROPS must be posted on the Successor Agency’s website. The DOF may eliminate or modify any item on the ROPS before approving the ROPS. The DOF must make its determination regarding the enforceable obligations and the amount and funding source for each enforceable obligation listed on ROPS 19-20 no later than April 15, 2019. Within five business days of the DOF’s determination, the Successor Agency may request to “meet and confer” with the DOF on disputed items. The meet and confer period may vary, but an untimely submission of ROPS 19-20 may result in a meet and confer period of less than 30 days. The County Auditor-Controller may object to the inclusion of any item on the ROPS that is not demonstrated to be an enforceable obligation and may object to the funding source proposed for any item. The County Auditor-Controller must provide notice of its objections to the DOF, the Successor Agency and the Oversight Board at least 60 days before disbursements from the Redevelopment Property Tax Trust Fund (“RPTTF”) are required to be made. The County Auditor-Controller is required to make RPTTF disbursements to the Successor Agency pursuant to the DOF-approved ROPS 19-20 on June 1, 2019 (to cover enforceable obligation payments from July 1, 2019 through December 31, 2019) and January 2, 2020 (to cover enforceable obligation payments from January 1, 2020 through June 30, 2020). ENVIRONMENTAL IMPACT: There is no environmental impact associated with adoption of the attached Resolution. LEGAL ANALYSIS: General Counsel has reviewed and approved as to form. FINANCIAL IMPACT: The preparation and submittal of ROPS 19-20 is for the purpose of allowing the Successor Agency to pay its enforceable obligations for the period from July 1, 2019 to June 30, 2020. RECOMMENDATION: That the Governing Board of the Successor Agency to the Seal Beach Redevelopment Agency (the “Successor Agency”) adopt Resolution SA 19-02, approving the Recognized Obligation Payment Schedule (“ROPS”) for the period from July 1, 2019 through June 30, 2020 (“ROPS 19-20”). SUBMITTED BY: NOTED AND APPROVED: Victoria L. Beatley Jill R. Ingram Victoria L. Beatley, Finance Officer Jill R. Ingram, Executive Director ATTACHMENTS: A. Resolution SA 19-02 B. Seal Beach ROPS 19-20 C. OB Staff Report for ROPS 19-20 D. OB Resolution ROPS 19-20 RESOLUTION SA 19-02 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SUCCESSOR AGENCY TO SEAL BEACH REDEVELOPMENT AGENCY APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE FISCAL PERIOD FROM JULY 1, 2019 THROUGH JUNE 30, 2020 AND TAKING 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, 2020 through June 30, 2020 (“ROPS 19-20”) and submit ROPS 19-20 to the oversight board having jurisdiction over the Successor Agency (the “Oversight Board”) for approval; and B. Pursuant to Health and Safety Code Section 34177(l)(2), the Successor Agency must submit ROPS 19-20 to the Oversight Board of the Successor Agency for approval; NOW, THEREFORE, THE BOARD OF DIRECTORS 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. ROPS 19-20, substantially in the form attached hereto as Exhibit A, is hereby approved. The Executive Director of the Successor Agency, in consultation with the Successor Agency’s legal counsel, may modify ROPS 19-20 as the Executive Director or the Successor Agency’s legal counsel deems necessary or advisable. Section 3. Staff is hereby authorized and directed to post a copy of the Oversight Board-approved ROPS 19-20 on the Successor Agency’s Internet website (being a page on the Internet website of the City of Seal Beach). Section 4. The officers and the other Staff members 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 19-20 pursuant to the DOF’s instructions, and any such actions previously taken are hereby ratified and confirmed. Resolution SA 19-02 Section 5. PASSED, APPROVED and ADOPTED by the Successor Agency to the Seal Beach Redevelopment Agency at a regular meeting held on the 14th_ day of January, 2019 by the following vote: AYES: Board Members: ___________________________________________ NOES: Board Members: ___________________________________________ ABSENT: Board Members: __________________________________________ ABSTAIN: Board Members: __________________________________________ Thomas Moore, Chair ATTEST: Dana Engstrom, Secretary Resolution SA 19--02 EXHIBIT A SUCCESSOR AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY RECOGNIZED OBLIGATION PAYMENT SCHEDULE (July 1, 2019 – June 30, 2020) Resolution SA 19-02 STATE OF CALIFORNIA } COUNTY OF ORANGE } SS CITY OF SEAL BEACH } I, Dana Engstrom, Secretary of the Successor Agency to the Seal Beach Redevelopment Agency, do hereby certify that the foregoing resolution is the original copy of Resolution SA 19-02 on file in the office of the City Clerk of the City of Seal Beach, passed, approved, and adopted by the Successor Agency to the Seal Beach Redevelopment Agency at a regular meeting held on the _14th_ day of January, 2019. Dana Engstrom, Secretary Recognized Obligation Payment Schedule (ROPS 19-20) - Summary Filed for the July 1, 2019 through June 30, 2020 Period Successor Agency:Seal Beach County:Orange Current Period Requested Funding for Enforceable Obligations (ROPS Detail) 19-20A Total (July - December) 19-20B Total (January - June)ROPS 19-20 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):$961,479 $295,782 $1,257,261 F RPTTF 714,669 93,409 808,078 G Administrative RPTTF 246,810 202,373 449,183 H Current Period Enforceable Obligations (A+E):$961,479 $295,782 $1,257,261 Certification of Oversight Board Chairman: Pursuant 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. Name Title /s/ Signature Date Seal Beach Recognized Obligation Payment Schedule (ROPS 19-20) - ROPS DetailJuly 1, 2019 through June 30, 2020(Report Amounts in Whole Dollars) A B C D E F G H I J K L M N O P Q R S T U V W Item #Project Name/Debt Obligation Obligation Type Contract/Agreement Execution Date Contract/Agreement Termination Date Payee Description/Project Scope Project Area Total Outstanding Debt or Obligation Retired ROPS 19-20 Total 19-20A (July - December) 19-20A Total 19-20B (January - June) 19-20B Total Fund Sources Fund Sources Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF $1,889,183 $1,257,261 $0 $0 $0 $714,669 $246,810 $961,479 $0 $0 $0 $93,409 $202,373 $295,782 1 2000 Tax Allocation Bond A Bonds Issued On or Before 12/31/10 12/20/2000 12/20/2023 Bond Holders Via Bank of New York These bonds are due in annual installments and is payable semi - annually on September 1 and March 1. These bonds are collateralized by a first pledge of the incremental tax revenues to be received by the project area. The bonds provided funds for the acquisition and construction of the project. Riverfront 1,290,000 N $658,078 639,669 $639,669 18,409 $18,409 2 2000 Tax Allocation Bond B Bonds Issued On or Before 12/31/10 12/20/2000 12/20/2018 Bond Holders Via Bank of New York These bonds are due in annual installments and is payable semi - annually on September 1 and March 1. These bonds are collateralized by a first pledge of the incremental tax revenues to be received by the project area. The bonds provided funds for the acquisition and construction of the project. Riverfront 0 Y $-$-$- 3 2000 Tax Allocation Bond A Professional Services 12/20/2000 12/20/2023 Bank of New York FY 17/18 estimated Trustee Fees/Arbitrage Analysis Riverfront 1,955 N $1,955 $- 1,955 $1,955 4 2000 Tax Allocation Bond B Professional Services 12/20/2000 12/20/2018 Bank of New York FY 17/18 estimated Trustee Fees/Arbitrage Analysis Riverfront 1,796 N $1,796 $- 1,796 $1,796 5 2000 Tax Allocation Bond A Professional Services 12/20/2000 12/20/2023 Wildan Financial Services FY 17/18 estimated Trustee Fees/Arbitrage Analysis Riverfront 1,161 N $1,161 $- 1,161 $1,161 6 2000 Tax Allocation Bond B Professional Services 12/20/2000 12/20/2018 Wildan Financial Services FY 17/18 estimated Trustee Fees/Arbitrage Analysis Riverfront 1,161 N $1,161 $- 1,161 $1,161 7 Mobile Home Park Revenue Bonds (Seal Beach Mobile Home Park Project) Series 2000A; Regulatory Agreement dated December 1, 2000 Bond Reimbursement Agreements 8/31/2005 8/31/2025 Union Bank-Trustee RDA issued bonds in 2000 to assist Link Community Development Corporation, a Non-Profit Corporation to purchase a mobile home park within the project area. The Regulatory Agreement obligates the RDA to use tax increment to pay a rental subsidy not to exceed $180,000 per year, to maintain affordable units. Riverfront 180,000 N $180,000 $- 180,000 $180,000 9 Agreement for Legal Services Admin Costs 7/1/2007 6/30/2026 Richard Watson & Gershon Legal services to Successor Agency.Riverfront 30,000 N $30,000 15,000 $15,000 15,000 $15,000 10 March 16, 2011 Agreement between Developer and RDA under which the RDA is obligated to pay for the acquisition costs of a sewer line City/County Loan (Prior 06/28/11), Cash exchange 3/16/2011 3/31/2015 City of Seal Beach The sewer line provides service to property within the project area; the acquisition costs are $1,200,000; By resolution dated June 27,2011 the City agreed to advance the money to the RDA. Pursuant to the Resolution, the RDA is obligated to pay 3 equal installments of principal and 6% interest until the advance is paid. Riverfront 230,510 N $230,510 230,510 $230,510 $- 15 Successor Agency Staff/Oversight board Admin Costs 4/9/2011 6/30/2016 Successor Agency Staff/Oversight board Administrative Cost Riverfront 2,600 N $2,600 1,300 $1,300 1,300 $1,300 18 Housing Entity Administrative Cost Allowance Miscellaneous 2/18/2014 6/30/2016 County of Orange Administrative costs for the Successor Agency Housing Authority 150,000 N $150,000 75,000 $75,000 75,000 $75,000 19 N $-$-$- 20 N $-$-$- 21 N $-$-$- 22 N $-$-$- 23 N $-$-$- 24 N $-$-$- 25 N $-$-$- 26 N $-$-$- 27 N $-$-$- 28 N $-$-$- 29 N $-$-$- 30 N $-$-$- 31 N $-$-$- 32 N $-$-$- 33 N $-$-$- 34 N $-$-$- 35 N $-$-$- 36 N $-$-$- 37 N $-$-$- 38 N $-$-$- 39 N $-$-$- 40 N $-$-$- 41 N $-$-$- 42 N $-$-$- 43 N $-$-$- 44 N $-$-$- 45 N $-$-$- 46 N $-$-$- 47 N $-$-$- 48 N $-$-$- 49 N $-$-$- 50 N $-$-$- 51 N $-$-$- 52 N $-$-$- 53 N $-$-$- 54 N $-$-$- 55 N $-$-$- 56 N $-$-$- 57 N $-$-$- 58 N $-$-$- 59 N $-$-$- 60 N $-$-$- 61 N $-$-$- 62 N $-$-$- 63 N $-$-$- 64 N $-$-$- 65 N $-$-$- 66 N $-$-$- 67 N $-$-$- 68 N $-$-$- 69 N $-$-$- 70 N $-$-$- 71 N $-$-$- 72 N $-$-$- 73 N $-$-$- 74 N $-$-$- 75 N $-$-$- 76 N $-$-$- 77 N $-$-$- 78 N $-$-$- 79 N $-$-$- 80 N $-$-$- 81 N $-$-$- 82 N $-$-$- 83 N $-$-$- 84 N $-$-$- 85 N $-$-$- 86 N $-$-$- 87 N $-$-$- 88 N $-$-$- Seal Beach Recognized Obligation Payment Schedule (ROPS 19-20) - ROPS DetailJuly 1, 2019 through June 30, 2020(Report Amounts in Whole Dollars) A B C D E F G H I J K L M N O P Q R S T U V W Item #Project Name/Debt Obligation Obligation Type Contract/Agreement Execution Date Contract/Agreement Termination Date Payee Description/Project Scope Project Area Total Outstanding Debt or Obligation Retired ROPS 19-20 Total 19-20A (July - December) 19-20A Total 19-20B (January - June) 19-20B Total Fund Sources Fund Sources Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Seal Beach Recognized Obligation Payment Schedule (ROPS 19-20) - Report of Cash Balances July 1, 2016 through June 30, 2017 (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. For tips on how to complete the Report of Cash Balances Form, see Cash Balance Tips Sheet. A B C D E F G H ROPS 16-17 Cash Balances (07/01/16 - 06/30/17) Fund Sources Comments Bond Proceeds Reserve Balance Other Funds RPTTF Bonds issued on or before 12/31/10 Bonds issued on or after 01/01/11 Prior ROPS RPTTF and Reserve Balances retained for future period(s) Rent, Grants, Interest, etc. Non-Admin and Admin 1 Beginning Available Cash Balance (Actual 07/01/16) RPTTF amount should exclude "A" period distribution amount 0 0 2 Revenue/Income (Actual 06/30/17) RPTTF amount should tie to the ROPS 16-17 total distribution from the County Auditor-Controller 994,456 3 Expenditures for ROPS 16-17 Enforceable Obligations (Actual 06/30/17) 1,017,642 4 Retention of Available Cash Balance (Actual 06/30/17) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 0 5 ROPS 16-17 RPTTF Prior Period Adjustment RPTTF amount should tie to the Agency's ROPS 16-17 PPA form submitted to the CAC No entry required 6 Ending Actual Available Cash Balance (06/30/17) C to F = (1 + 2 - 3 - 4), G = (1 + 2 - 3 - 4 - 5) $0 $0 $0 $0 $(23,186) Seal Beach Recognized Obligation Payment Schedule (ROPS 19-20) - Notes July 1, 2019 through June 30, 2020 Item #Notes/Comments Orange Countywide Oversight Board Date: 1/22/2019 From: Successor Agency to the Seal Beach Redevelopment Agency Subject: Resolution of the Countywide Oversight Board Approving a Recognized Obligation Payment Schedule for the Fiscal Period from July 1, 2019 through June 30, 2020, pursuant to Health and Safety Code Section 34177 and taking Related Actions Recommended Action: Adopt resolution to approve a Recognized Obligation Payment Schedule for the Fiscal Period from July 1, 2019 through June 30, 2020, of the Successor Agency and taking related actions. ______________________________________________________________________________ Pursuant to Section 34177 of the Health and Safety Code (“HSC”), the Successor Agency must prepare a Recognized Obligation Payment Schedule (“ROPS”) annually, listing the anticipated payments for enforceable obligations to be made from July 1 through the following June 30. All ROPS must be approved by the Oversight Board. Furthermore, each Oversight Board-approved ROPS must be submitted to the DOF for review. The preparation and submittal of ROPS 19-20 are for the purpose of allowing the Successor Agency to pay its enforceable obligations for the period from July 1, 2019 to June 30, 2020. HSC Section 34177 requires the Successor Agency to submit an Oversight Board-approved ROPS 19-20 to the DOF and to the County Auditor-Controller no later than February 1, 2019. The DOF may eliminate or modify any item on the ROPS before approving the ROPS. The DOF must make its determination regarding the enforceable obligations and the amount and funding source for each enforceable obligation listed on ROPS 19-20 no later than April 15, 2019. Within five business days of the DOF’s determination, the Successor Agency may request to “meet and confer” with the DOF on disputed items. The DOF will issue its final determination after the meet and confer. The County Auditor-Controller is required to make RPTTF disbursements to the Successor Agency pursuant to the DOF-approved ROPS 19-20 on June 1, 2019 (to cover enforceable obligation payments from July 1, 2019 through December 31, 2019) and January 2, 2020 (to cover enforceable obligation payments from January 1, 2020 through June 30, 2020). Impact on Taxing Entities: The submittal of ROPS 19-20 is for the purpose of allowing the Successor Agency to pay its enforceable obligations for the period from July 1, 2019 to June 30, 2020. The County Auditor- Controller will distribute to the taxing entities residual amounts from the RPTTF after: (i) deduction for County administrative expenses, (ii) pass-through payments, and (iii) enforceable obligations and administrative costs, as approved on the ROPS. Orange Countywide Oversight Board Attachments: Attachment 1 -- Proposed Oversight Board Resolution (with Exhibit A -- ROPS 19-20) Attachment 2 -- Resolution of the Successor Agency RESOLUTION 19-02 A RESOLUTION OF THE ORANGE COUNTYWIDE OVERSIGHT BOARD WITH OVERSIGHT OF THE SUCCESSOR AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE FISCAL PERIOD FROM JULY 1, 2019 THROUGH JUNE 30, 2020, PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177 AND TAKING RELATED ACTIONS WHEREAS, 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, 2019 through June 30, 2020 (“ROPS 19-20”) and submit ROPS 19-20 to the oversight board with jurisdiction over the Successor Agency for approval; and WHEREAS, pursuant to Health and Safety Code Section 34179(j), commencing on and after July 1, 2018, the Orange Countywide Oversight Board (the “Oversight Board”) has jurisdiction over the Successor Agency; and WHEREAS, pursuant to Health and Safety Code Section 34177(l)(2)(C) and Section 34177(o)(1), the Successor Agency must: (i) submit the Oversight Board-approved ROPS 19-20 to the State Department of Finance (the “DOF”), the Office of the State Controller, and the County Auditor-Controller no later than February 1, 2019, and (ii) post a copy of the Oversight Board-approved ROPS 19-20 on the Successor Agency’s website; NOW, THEREFORE, BE IT RESOLVED THAT THE ORANGE COUNTYWIDE OVERSIGHT BOARD does hereby resolve 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 19-20, substantially in the form attached hereto as Exhibit A. Staff of the Successor Agency is hereby authorized and directed to: (i) submit a copy of Oversight Board-approved ROPS 19-20 to the DOF, the Office of the State Controller, and the County Auditor-Controller and (ii) post a copy of the Oversight Board-approved 19-20 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 19-20 pursuant to the DOF’s instructions, and any such actions previously taken are hereby ratified and confirmed. The foregoing was passed and adopted by the following vote of the Orange Countywide Oversight Board on the 22nd day of January, 2019. YES: Board Members: NOES: EXCUSED: ABSTAINED BRIAN PROBOLSKY CHAIRMAN STATE OF CALIFORNIA ) ) COUNTY OF ORANGE ) I, ANTHONY KUO, Clerk of the Orange Countywide Oversight Board, Orange County, California, hereby certify that a copy of this document has been delivered to the Chairman of the Board and that the above and foregoing Resolution was duly and regularly adopted by the Orange Countywide Oversight Board. IN WITNESS WHEREOF, I have hereto set my hand ANTHONY KUO Clerk Orange Countywide Oversight Board Resolution No: 19-_____ Agenda Date: Item No.: EXHIBIT A SUCCESSOR AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY RECOGNIZED OBLIGATION PAYMENT SCHEDULE (July 1, 2019 – June 30, 2020)