HomeMy WebLinkAboutSA Agenda Packet_12142020SPECIAL SUCCESSOR AGENCY MATTERS
NOTICE REGARDING PUBLIC OBSERVATION AND PARTICIPATION IN THE
SPECIAL SUCCESSOR AGENCY MATTERS MEETING
To comply with Governor Newsom's Executive Order N-29-20 and the Amended Order
and Guidance of the Orange County Health Officer issued March 18, 2020 the City of
Seal Beach hereby gives notice of the "means by which members of the public may
observe the meeting and offer public comment" for the Special Successor Agency
Matters meeting on December 14, 2020. Due to the need for social distancing and the
prohibition on public gatherings set forth in the County Health Officer's Order, all
participation in the above -referenced meeting will be by teleconference for the Members
of the City Council and staff. Because of the unique nature of the emergency there will
NOT be a physical meeting location and all public participation will be electronic.
PUBLIC COMMENT: Members of the public may submit comments on any item on this
Special Successor Agency Matters meeting agenda via email to the City Clerk at
gharper@sealbeachca.gov or via the comment icon through the online portal
at https://www.sealbeachca.gov/Government/Agendas-Notices-Meeting-Videos/Council-
Commission-Meetings . All email comments the City Clerk receives before the start of
the meeting will be posted on the City website and distributed to City Council. Email
comments received after that time will be posted on the City's website and forwarded to
the City Council after the meeting.
THIS NOTICE AND ELECTRONIC PARTICIPATION PROVISIONS SET FORTH IN
THIS NOTICE ARE PROVIDED PURSUANT TO SECTION 3 OF EXECUTIVE ORDER
N-29-20.
CALL TO ORDER
AGENCY ROLL CALL
PUBLIC COMMUNICATIONS (VIA EMAIL ONLY)
At this time members of the public may address the Council regarding the items on this
Special Successor Agency Matters meeting agenda. Pursuant to the Brown Act, the
Council cannot discuss or take action on any items not on the agenda unless authorized
by law.
Those members of the public wishing to provide comment are asked to send comments
via email to the City Clerk at gharper@sealbeachca.gov or via the comment icon on the
City website at https://www.sealbeachca.gov/Government/Agendas-Notices-Meeting-
Videos/Council-Commission-Meetings before 6 pm on December 14, 2020. Comments
provided via email will be posted on the City website for review by the public. Any
documents for review should be sent to the City Clerk prior to the meeting 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 June 22, 2020 - Approve the
minutes for the Special meeting of the Successor Agency of the former Seal
Beach Redevelopment Agency held on June 22, 2020.
B. Demands on City Treasury (Fiscal Year 2021) — December 14, 2020
- Ratification.
C. Recognized Obligation Payment Schedule for Fiscal Year from July 1, 2021
through June 30, 2022 and Related Documents - That the Governing Board
of the Successor Agency to the Seal Beach Redevelopment Agency (the
"Successor Agency") adopt Resolution SA 20-02, approving the Recognized
Obligation Payment Schedule ("ROPS") for the period from July 1, 2021 through
June 30, 2022 ("ROPS 21-22") and authorize the Finance Officer to complete
the documents.
ADJOURNMENT
Adjourn the Successor Agency to a date uncertain.
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AGENDA STAFF REPORT
�1'',,C'QCIFORN�P'r
DATE: December 14, 2020
TO: Honorable Chair and Agency Members
THRU: Jill R. Ingram, Executive Director
FROM: Gloria D. Harper, Secretary
SUBJECT: Approval of Successor Agency Minutes for June 22, 2020
SUMMARY OF REQUEST:
Approve the minutes for the Special meeting of the Successor Agency of the
former Seal Beach Redevelopment Agency held on June 22, 2020.
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.
STRATEGIC PLAN:
This item is not applicable to the Strategic Plan.
MEASURE BB:
This item is not applicable to Measure BB, the Seal Beach Neighborhood and
Essential Services Protection Measure.
Agenda Item A
RECOMMENDATION:
Approve the minutes for the Special meeting of the Successor Agency of the
former Seal Beach Redevelopment Agency held on June 22, 2020.
SUBMITTED BY:
Gloria D. Harper
Gloria D. Harper, Secretary
NOTED AND APPROVED:
Prepared by: Dana Engstrom, Deputy City Clerk
ATTACHMENTS:
A. Minutes
Page 2
Jill R. Ingram
Jill R. Ingram, City Manager
Seal Beach, California
June 22, 2020
The Successor Agency met at 8:26 p.m. in the City Council Chambers with Chair
Sustarsic calling the meeting to order.
ROLL CALL
Present: Chair Sustarsic
Agency Members: Moore, Kalmick, Varipapa
Absent: Massa-Lavitt (Call dropped during the meeting)
City Staff: Craig A. Steele, City Attorney
Jill R. Ingram, City Manager
Patrick Gallegos, Assistant City Manager
Chief Phil Gonshak, Seal Beach Police Department
Chief Joe Bailey, Marine Safety/Lifeguard Department
Kelly Telford, Director of Finance/City Treasurer
Steve Myrter, P.E., Director of Public Works
Les Johnson, Director of Community Development
Gloria D. Harper, City Clerk
Dana Engstrom, Deputy City Clerk
ORAL COMMUNICATIONS
Chair Sustarsic opened oral communications. Speakers: None. Chair Sustarsic
declared oral communications closed.
CONSENT CALENDAR
Member Moore moved, second by Member Kalmick, to approve Items A through
C of the recommended actions on the consent calendar as presented.
City Clerk Harper took a roll call vote to approve the consent calendar items.
AYES: Moore, Sustarsic, Varipapa, Kalmick
NOES: None
ABSENT: Massa-Lavitt
ABSTAIN: None
Motion carried
A. Approval of Successor Agency Minutes for December 9, 2019 - Approve
the minutes for the regular meeting of the Successor Agency of the former Seal
Beach Redevelopment Agency held on December 9, 2019.
B. Demands on City Treasury (Fiscal Year 2020) — June 22, 2020 -
Ratification.
C. Redemption of Outstanding Tax Allocation Bonds - That the Governing
Board of the Successor Agency adopt Resolution No. SA 20-01, approving the
use of bond funds to affect redemption of outstanding tax allocation bonds and
taking related actions.
ADJOURNMENT
With no objections, Chair Sustarsic adjourned the meeting at 8:30 p.m. to a date
uncertain immediately following the City Council meeting.
Gloria D. Harper, Secretary
City of Seal Beach
Approved:
Schelly Sustarsic, Chair
Attested:
Gloria D. Harper, Secretary
Successor Agency for the Seal Beach Redevelopment Agency
Fiscal Year 2021
Warrant Listing for Council Meeting 12-14-2020
Approve by Minute Order Demands on Treasury:
Warrants-A/P: Checks 1032 - 1033
Total
2,131.62
$ 2,131.62 Year -to -Date: $ 2,131.62
Note: Year-to-date amounts are actual cash disbursements and do not reflect actual expenditures
due to year-end accruals.
Respectfully submitted by:
1A I 12
ekly Terd, CPA Date:
'
Director Finance/City Treasurer
City of Seal Beach Accounts Payable
User:vrodriguez Checks by Date - Detail By Check Date
Check No: 1032 Check Date: 10/12/2020
Vendor: RICO2 Richards Watson & Gershon
228157 Services July 2020- General 08/21/2020
228158 Services July 2020- Mobile Home Park Ref 08/21/2020
Check Total:
Check No: 1033 Check Date: 10/12/2020
Vendor: FIE04 Fieldman, Rolapp & Associates
25465 Services Regarding SA 08/12/2020
Check Total:
Date Totals:
Report Total:
Printed: 12/04/2020 15:52
Detail
Check Amount
453.91
1,488.71
1,942.62
189.00
189.00
2,131.62
0.00 2,131.62
Page 1
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AGENDA STAFF REPORT
�1'',,C'QCIFORN�P'r
DATE: December 14, 2020
TO: Honorable Chair and Agency Members
THRU: Jill R. Ingram, Executive Director
FROM: Kelly Telford, CPA, Finance Director/Treasurer
SUBJECT: Recognized Obligation Payment Schedule for Fiscal Year
from July 1, 2021 through June 30, 2022 and Related
Documents
SUMMARY OF REQUEST:
That the Governing Board of the Successor Agency to the Seal Beach
Redevelopment Agency (the "Successor Agency") adopt Resolution SA 20-02,
approving the Recognized Obligation Payment Schedule ("ROPS") for the period
from July 1, 2021 through June 30, 2022 ("ROPS 21-22") and authorize the
Finance Officer to complete the documents.
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. The Successor Agency's
ROPS 21-22 will be submitted to the Countywide Oversight Board for
consideration at its January 19, 2021 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 21-22 to the DOF and to the County Auditor -
Controller no later than February 1, 2021. 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 21-22 no later than April 15, 2021. Within five business days of
the DOF's determination, the Successor Agency may request to "meet and
Agenda Item C
confer" with the DOF on disputed items. The meet and confer period may vary,
but an untimely submission of ROPS 21-22 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 21-22 on June 1, 2021 (to cover
enforceable obligation payments from July 1, 2021 through December 31, 2021)
and January 2, 2022 (to cover enforceable obligation payments from January 1,
2022 through June 30, 2022).
Successor Agency Requests on ROPS 21-22 and Going Forward
As explained below, for this ROPS 21-22, the Successor Agency is only allowed
to request a relatively small amount from the RPTTF to cover administrative
expenses. Furthermore, starting Fiscal Year 2022-23, the Successor Agency
may receive no more money from RPTTF disbursements. However, unless there
is a change to the current circumstances, the Successor Agency will not be able
completely wind -down and may have to continue filing the annual ROPS.
For the past few years, the Successor Agency had few remaining obligations --
primarily related to two series of bonds, both issued by the former
Redevelopment Agency in the year 2000: (i) tax allocation bonds (the "Tax
Allocation Bonds"), (ii) the Mobilehome Park Revenue Bonds (Seal Beach Mobile
Home Park Project) Series 2000A (the "Mobilehome Park Bonds").
With the approval of the Successor Agency Board, the Oversight Board and the
DOF, the Successor Agency redeemed and paid off the remaining Tax Allocation
Bonds in November 2020.
In contrast, there are still $4.85 million in principal amount of Mobilehome Park
Bonds outstanding. The Mobilehome Park Bonds are "conduit bonds" and were
issued as part of a transaction to assist the mobilehome park, now known as
Seal Beach Shores ("SBS"). Pursuant to the related bond indenture, the former
Redevelopment Agency issued the Mobilehome Park Bonds. Separately, under a
loan agreement by and among the former Redevelopment Agency, the bond
trustee and the owner of SBS (the "Park Owner"), the Park Owner is obligated to
make payments in amounts sufficient to cover the debt service on the
Mobilehome Park Bonds. In the normal course, the Park Owner sends moneys
directly to the bond trustee, and the bond trustee uses such moneys to pay debt
service on the Mobilehome Park Bonds.
Page 2
As contemplated by the redevelopment dissolution law, the Successor Agency
should undertake procedures to wind -down and dissolve once there are no more
enforceable obligations. But for the Mobilehome Park Bonds, the Successor
Agency can proceed with such wind -down. In the absence of an early
redemption, however, the Mobilehome Park Bonds' final maturity date is
December 15, 2035. Staff has communicated with the DOF about this unusual
situation. In the DOF's view, because the Mobilehome Park Bonds remain to be
the Successor Agency's legal obligations, the Successor Agency cannot proceed
with dissolution. Until the Mobilehome Park Bonds are paid -off, the Successor
Agency should technically continue to file the annual ROPS.
The Mobilehome Park Bonds can be retired early if the Park Owner makes the
choice to trigger a redemption. In this past year, the Park Owner indicated that it
was going to do so, but to this date, that has not come to fruition.
So long as the Mobilehome Park Bonds are outstanding, time and resources
(including staff and legal expenses) will have to be spent in connection with
related administrative matters. Unfortunately, an amendment to HSC Section
34171 capped the amount that the Successor Agency may receive annually from
the RPTTF for administrative cost allowance -- to no more than 50 percent of the
RPTTF moneys disbursed to the Successor Agency for enforceable obligations
(excluding administrative costs) for the preceding fiscal year. During Fiscal Year
2020-21, the DOF approved RPTTF disbursement of $3,116 for enforceable
obligations (for professional services related to the Tax Allocation Bonds).
Therefore, on ROPS 21-22, the Successor Agency is permitted to request $1,558
to be disbursed from the RPTTF for the administrative cost allowance. In
addition, the Successor Agency has requested to be permitted to use
approximately $2,500 released from the Tax Allocation Bonds funds after their
redemption, for administrative expenses. Because the Successor Agency will
receive any moneys from the RPTTF for enforceable obligation, other than the
$1,558 for administrative costs, for fiscal year 21-22, the Successor Agency will
not be eligible to receive any further RPTTF disbursements starting in fiscal year
2022-23.
ENVIRONMENTAL IMPACT:
There is no environmental impact related to this item.
LEGAL ANALYSIS:
General Counsel has reviewed and approved as to form.
FINANCIAL IMPACT:
The preparation and submittal of ROPS 21-22 is for the purpose of allowing the
Successor Agency to receive RPTTF disbursements and use approximately
$2,500 cash released from the now -retired Tax Allocation Bonds, to cover
Page 3
anticipated administrative expenses for the period from July 1, 2021 to June 30,
2022.
STRATEGIC PLAN:
This item is not applicable to the Strategic Plan.
MEASURE BB:
This item is not applicable to Measure BB, the Seal Beach Neighborhood and
Essential Services Protection Measure.
RECOMMENDATION:
That the Governing Board of the Successor Agency to the Seal Beach
Redevelopment Agency (the "Successor Agency") adopt Resolution SA 20-02,
approving the Recognized Obligation Payment Schedule ("ROPS") for the period
from July 1, 2021 through June 30, 2022 ("ROPS 21-22") and authorize the
Finance Officer to complete the documents.
SUBMITTED BY:
Kelly Telford
Kelly Telford, CPA, Finance
Director/Treasurer
NOTED AND APPROVED:
Jill R. Ingram
Jill R. Ingram, Executive Director
Prepared by: Kelly Telford, CPA, Finance Director/Treasurer
ATTACHMENTS:
A. Resolution SA 20-02
B. Seal Beach ROPS 21-22
C. Administrative Budget July 1 to December 31, 2021
D. Administrative Budget January 1 to June 30, 2022
Page 4
RESOLUTION SA 20-02
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, 2021 THROUGH JUNE 30, 2022 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, 2021 through June 30, 2022 ("ROPS
21-22") and submit ROPS 21-22 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(1)(2), the
Successor Agency must submit ROPS 21-22 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 21-22, 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
21-22 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 21-22 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 21-22 pursuant to the DOF's instructions, and any such
actions previously taken are hereby ratified and confirmed.
Resolution SA 20-02
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 December, 2020 by the following vote:
AYES: Board Members:
NOES: Board Members:
=@I 61111ILTAM"111040
ABSTAIN: Board Members:
Schelly Sustarsic, Chair
ATTEST:
Gloria D. Harper, Secretary
Resolution SA 20-02
EXHIBIT A
SUCCESSOR AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
(July 1, 2020 — June 30, 2021)
Resolution SA 20-02
STATE OF CALIFORNIA }
COUNTY OF ORANGE } SS
CITY OF SEAL BEACH }
I, Gloria D. Harper, 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 20-02 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 December, 2020.
Gloria D. Harper, Secretary
Recognized Obligation Payment Schedule (ROPS 21-22) - Summary
Filed for the July 1, 2021 through June 30, 2022 Period
Successor Agency: Seal Beach
County: Orange
Current Period Requested Funding for Enforceable
Obligations (ROPS Detail)
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
F RPTTF
G Administrative RPTTF
H Current Period Enforceable Obligations (A+E)
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.
21-22A Total 21-22B Total ROPS 21-22
(July - (January - Total
December) June)
$ 2,500 $
- $ 2,500
2,500
$ 1,558 $
- 2,500
- $ 1,558
1,558
- 1,558
$ 4,058 $
- $ 4,058
Name
/s/
Title
Signature
Date
Seal Beach
Recognized Obligation Payment Schedule (ROPS 21-22) - ROPS Detail
July 1, 2021 through June 30, 2022
A
B
C
D
E
F
G
H
I
J
K
L M N 0 P
Q
R S I T U V
W
ROPS 21-22A (Jul - Dec)
ROPS 21-22B (Jan - Jun)
Item
Project
Agreement
Agreement
Project
Total
ROPS
21-22A
21-22B
Fund
Sources
Fund Sources
#
Name
Obligation Type
Execution
Termination
Payee
Description
Area
Outstanding
Retired
21-22
Total
Total
Date
Date
Obligation
Total
Bond
Reserve
Other
RPTTF
Admin
Bond
Reserve
Other
RPTTF
Admin
Proceeds
Balance
Funds
RPTTF
Proceeds
Balance
Funds
RPTTF
$4,058
$4,058
$-
$-
$2,500
$1,558
$-
$4,058
$
$-
$
$-
$-
$-
1
2000 Tax
Bonds Issued
12/20/
12/20/2023
Bond
These bonds are
Riverfront
-
Y
$
$
$
Allocation
On or Before
2000
Holders
due in annual
Bond A
12/31/10
Via Bank
installments and
of New
is payable semi
York
-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.
3
2000 Tax
Professional
12/201
12/20/2023
Bank of
Estimated
Riverfront
Y$
-
Allocation
Services
2000
New York
Trustee Fees/
Bond A
Arbitrage
Analysis
5
2000 Tax
Professional
12/201
12120/2023
Wildan
Estimated
Riverfront
Y$
-
Allocation
Services
2000
Financial
Trustee Fees/
Bond A
Services
Arbitrage
Analysis
9
Agreement
Admin Costs
07/01/
06/30/2026
Richard
Legal services to
Riverfront
2,500
N
$2,500
2,500
$2,500
$
for Legal
2007
Watson &
Successor
Services
Gershon
Agency.
15
Successor
Admin Costs
04/09/
06/30/2016
Successor
Administrative
Riverfront
1,558
N
$1,558
-
1,558
$1,558
$
Agency
2011
Agency
Cost
Staff/
Staff/
Oversight
Oversight
board
board
19
Mobile
Bond
08/31/
12/15/2035
Union
RDA issued
Tiverfront
-
N
$
$-
$-
A
B
C
D
E
F
G
H
I
J
K
L M N 0 P
Q
R S I T I U V
W
ROPS 21-22A (Jul - Dec)
ROPS 21-22B (Jan - Jun)
Item
Project
Agreement
Agreement
Project
Total
ROPS
21-22A
21-22B
Fund
Sources
Fund Sources
#
Name
Obligation Type
Execution
Termination
Payee
Description
Area
Outstanding
Retired
21-22
Total
Total
Date
Date
Obligation
Total
Bond
Reserve
Other
RPTTF
Admin
Bond
Reserve
Other
RPTTF
Admin
Proceeds
Balance
Funds
RPTTF
Proceeds
Balance
Funds
RPTTF
Home
Reimbursement
2005
Bank-
bonds in 2000 to
Park
Agreements
Trustee
assist Link
Revenue
Community
Bonds
Development
(Seal
Corporation, a
Beach
Non -Profit
Mobile
Corporation to
Home
purchase a
Park
mobile home
Project)
park within the
Series
project area. The
2000A;
Regulatory
Regulatory
Agreement
Agreement
obligates the
dated
RDA to use tax
December
increment to pay
1, 2000
a rental subsidy
not to exceed
$180,000 per
year, to maintain
affordable units.
Seal Beach
Recognized Obligation Payment Schedule (ROPS 21-22) - Report of Cash Balances
July 1, 2018 through June 30, 2019
(Report Amounts in Whole Dollars)
Pursuant to Health and Safety Code section 34177 (1), 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.
A
B
C
D
E
F
G
H
Fund Sources
Bond Proceeds
Reserve Balance
Other Funds
RPTTF
Prior ROPS
ROPS 18-19 Cash Balances
RPTTF and
Comments
(07/01/18 - 06/30/19)
Bonds issued
Bonds issued
Reserve
Rent, grants,
Non -Admin
on or before
on or after
Balances retained
interest, etc.
and Admin
12/31/10
01/01/11
for future
period(s)
1
Beginning Available Cash Balance (Actual 07/01/18)
-
RPTTF amount should exclude "A" period distribution
amount.
2
Revenue/Income (Actual 06/30/19)
61,725
490
1,231,937
RPTTF amount should tie to the ROPS 18-19 total
distribution from the County Auditor -Controller
3
Expenditures for ROPS 18-19 Enforceable Obligations
61,725
490
1,231,447
(Actual 06/30/19)
4
Retention of Available Cash Balance (Actual 06/30/19)
RPTTF amount retained should only include the amounts
distributed as reserve for future period(s)
5
ROPS 18-19 RPTTF Prior Period Adjustment
-
RPTTF amount should tie to the Agency's ROPS 18-19 PPA
No entry required
form submitted to the CAC
6
Ending Actual Available Cash Balance (06/30/19)
$-
$-
$-
$-
$490
CtoF=(1 +2-3-4),G=(1 +2-3-4-5)
Seal Beach
Recognized Obligation Payment Schedule (ROPS 21-22) - Notes
July 1, 2021 through June 30, 2022
Item # Notes/Comments
1 These bonds were paid off early using fiscal agent cash on hand.
................................:..............................................................................................................................................................................................................................................................................................................................................
3 :These bonds were paid off early using fiscal agent cash on hand.
...............................................................................................................................................................................................................................................................................................................................................................................
5 : These bonds were paid off early using fiscal agent cash on hand.
................................:..............................................................................................................................................................................................................................................................................................................................................
9
...............................................................................................................................................................................................................................................................................................................................................................................
15
..............................................................................................................................................................................................................................................................................................................................................................................
19 :Although there is no future financial obligation, the DOF has determined that this obligation cannot be
removed as there is still a legal obligation related to the regulatory agreement. This obligation will
remain in place until the Series 200A Mobile Home Park bonds are redeemed or refinanced.
Exhibit A
SUCCESSOR AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT AGENCY
ADMINISTRATIVE BUDGET
Fiscal Period July 1 - December 31, 2021
CATEGORYI
e items listed below include amounts to be reimbursed by the Successor Agency to the City of Seal Beach, pursuant to
operative Agreement for Advance and Reimbursement of Administrative, Overhead and other Expenses ("Cooperativ
reement°), by and between the City and the Successor Agency, in the form approved by the Successor Agency Board pursuant 1
!solution No. SA 12-10 , adopted on April 9, 2012. Pursuant to the Cooperative Agreement, the Successor Agency reimburses th
:y for all costs advanced by the City for the administration and operation of the Successor Agency, including but not limited to valu
staff, consultants and legal counsel, office space, equipment, supplies, insurance and other services and facilities.
DESCRIPTION
PROPOSED
ADMINISTRATIVE FUNDING
BUDGET SOURCE
Staffing for the Successor Agency
City Manager
298
Administrative Allowance
City Clerk
78
Administrative Allowance
Accountant
33
Administrative Allowance
Accounting Technician - Accounts Payable
50
Administrative Allowance
Accounting Technician - Payroll
24
Administrative Allowance
Finance Manager
49
Administrative Allowance
Director of Finance
1,008
Administrative Allowance
Staffing for the Oversight Board
City Manager
City Clerk
Finance Manager
Director of Finance
Services/Facilities
18
1,558
Administrative Allowance
Administrative Allowance
Administrative Allowance
Administrative Allowance
Administrative Allowance
Exhibit A
SUCCESSOR AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT AGENCY
ADMINISTRATIVE BUDGET
Fiscal Period July 1 - December 31, 2021
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 parry 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 2,500 Reserves
Trustee Fees -
Arbitrage Analysis
TOTAL 2,500
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
Legalcounsel
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, 2022
CATEGORYI
The items listed below include amounts to be reimbursed by the Successor Agency to the City of Seal Beach, pursuant to
Cooperative Agreement for Advance and Reimbursement of Administrative, Overhead and other Expenses ("Cooperati
Agreement'), by and between the City and the Successor Agency, in the form approved by the Successor Agency Board pursuant
Resolution No. SA 12-10 , adopted on April 9, 2012. Pursuant to the Cooperative Agreement, the Successor Agency reimburses t
City for all costs advanced by the City for the administration and operation of the Successor Agency, including but not limited to val
of staff, consultants and legal counsel, office space, equipment, supplies, insurance and other services and facilities.
Staffing for the Oversight Board
PROPOSED
City Manager
ADMINISTRATIVE FUNDING
DESCRIPTION
BUDGET SOURCE
Staffing for the Successor Agency
Administrative Allowance
City Manager
Administrative Allowance
City Clerk
Administrative Allowance
Accountant
Administrative Allowance
Accounting Technician - Accounts Payable
Administrative Allowance
Accounting Technician - Payroll
Administrative Allowance
Finance Manager
Administrative Allowance
Director of Finance
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
Administrative Allowance
TOTAL
Exhibit B
SUCCESSOR AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT AGENCY
ADMINISTRATIVE BUDGET
Fiscal Period January 1 - June 30, 2022
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 Administrative Allowance
Trustee Fees Administrative Allowance
Arbitrage Analysis Administrative Allowance
Administrative Allowance
TOTAL
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