HomeMy WebLinkAboutSA Res SA21-03 2021-12-13RESOLUTION SA 21-03
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
SUCCESSOR AGENCY TO THE SEAL BEACH
REDEVELOPMENT AGENCY DIRECTING THE NOTIFICATION
TO THE OVERSIGHT BOARD REGARDING THE DISPOSITION
OF ASSETS IN CONNECTION WITH THE SUCCESSOR
AGENCY'S DISSOLUTION, DIRECTING DISSOLUTION UPON
THE OVERSIGHT BOARD'S ADOPTION OF THE FINAL
RESOLUTION, MAKING A FINDING OF EXEMPTION UNDER
THE CALIFORNIA ENVIRONMENTAL QUALITY ACT AND
TAKING RELATED ACTIONS
RECITALS:
A. 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 Redevelopment Agency of the City
of Seal Beach (the "Former Agency") was dissolved as of February 1, 2012, and
the Successor Agency to the Seal Beach Redevelopment Agency (the "Successor
Agency") was constituted.
B. Pursuant to Section 341790) of the California Health and Safety
Code ("HSC"), from and after July 1, 2018, the Orange Countywide Oversight
Board (the "Oversight Board") is the oversight board for the Successor Agency.
C. The Successor Agency is tasked with winding down the Former
Agency's affairs.
D. Pursuant to HSC Section 34187(b), the Successor Agency shall
submit to the Oversight Board a request, with a copy to the Orange County Auditor -
Controller (the "County Auditor -Controller"), to formally dissolve the Successor
Agency within 30 days of meeting the following criteria (collectively, the
"Dissolution Criteria"):
(i) all enforceable obligations have been retired or paid off,
(ii) all real property has been disposed of pursuant to HSC
Section 34181 or 34191.4, and
(iii) all outstanding litigation has been resolved.
E. This Board of Directors (the "Board"), having determined that the
Successor Agency has met the Dissolution Criteria, adopted Resolution No. SA
21-02, on September 27, 2021 (the "SA Request Resolution"), to request the
Oversight Board to approve the Successor Agency's formal dissolution.
12805-0001\2531048v2.doc
Resolution Number SA 21-03
F. Copies of the SA Request Resolution were submitted to the
Oversight Board and the County Auditor -Controller pursuant to HSC Section
34187(b).
G. The Oversight Board adopted its Resolution No. 21-027, on October
12, 2021 (the "OB Approving Resolution"), approving the Successor Agency's
request to formally dissolve.
H. Pursuant to HSC Section 34187(b), the OB Approval Resolution
(with a copy of the SA Request Resolution attached as Exhibit A thereto) was
submitted to the California State Department of Finance (the "DOF") for approval.
I. The DOF issued its letter, dated November 17, 2021 (the "DOF
Approval"), approving the OB Approval Resolution.
J. Pursuant to HSC Section 34187(e), within 100 days after the
issuance of the DOF Approval, the Successor Agency shall dispose of all
remaining assets as directed by the Oversight Board and the proceeds of such
disposition shall be transferred to the County Auditor -Controller (the "Final
Transfer").
K. The Final Transfer was accomplished by the transfer of the Released
Bond Funds (as defined in the SA Request Resolution) and remaining unspent
administration funds, in the amount of $535,525.52 to the County Auditor -
Controller on December 7. 2021.
L. Pursuant to HSC Section 34187(e)(2), the Successor Agency shall
send a notification (the "Notification") to the Oversight Board after completing the
Final Transfer.
M. Pursuant to HSC Section 34187(f), upon receipt of the Notification,
the Oversight Board shall: (i) verify all of the Successor Agency's obligations have
been retired or paid off, all outstanding litigation has been resolved, and all
remaining assets have been disposed of with any proceeds remitted to the County
Auditor -Controller for distribution to the affected taxing entities; and (ii) within 14
days of verification, adopt a final resolution (the "OB Final Resolution") of
dissolution for the Successor Agency, which shall be effective immediately.
N. Attached in Attachment A is the unaudited final accounting of the
Successor Agency funds, as of December 7, 2021 (the "Unaudited Final
Accounting Statement"), showing that the Successor Agency has no outstanding
assets or obligations.
NOW, THEREFORE, THE BOARD OF DIRECTORS OF THE
SUCCESSOR AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY,
HEREBY FINDS, DETERMINES, RESOLVES, AND ORDERS AS FOLLOWS:
Resolution Number SA 21-03
Section 1. The above recitals are true and correct and are a substantive
part of this Resolution.
Section 2. The Board hereby finds, determines and affirms that:
(i) all Successor Agency's obligations have been retired or paid
off,
(ii) there is no outstanding litigation to which the Successor
Agency is a party, and
(iii) all of the Successor Agency's assets have been disposed of
with any proceeds thereof remitted to the County Auditor -
Controller.
Section 3. The Agency Clerk is hereby directed to cause a copy of this
Resolution to be submitted to the Oversight Board. This Resolution shall serve as
the Notification for the purposes of HSC Section 34187(e)(2).
Section 4. The Oversight Board is hereby requested to adopt the OB
Final Resolution to formally dissolve the Successor Agency.
Section 5. It is hereby declared and directed that the Successor Agency
shall be dissolved upon the Oversight Board's adoption of the OB Final Resolution,
without any further action on the Board's part.
Section 6. The Board hereby finds and determines that the dissolution of
the Successor Agency shall constitute a change in the organization or
reorganization of local governmental agencies that does not alter the geographic
areas within which the powers are exercised for the purposes of the California
Environmental Quality Act (California Public Resources Code Section 21000 et
seq.). Therefore, such dissolution shall be exempt from environmental review,
pursuant to Section 15320 of Title 14 of the California Code of Regulations. In
addition, it can be seen with certainty that such request and the dissolution of the
Successor Agency will not have a significant effect on the environment. Therefore,
such request and dissolution shall be exempt from environmental review, pursuant
to Section 15061(b)(3) of Title 14 of the California Code of Regulations.
Section 7. 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, including the execution of any instruments, which they may deem
necessary or advisable to effectuate this Resolution and any such actions
previously taken are hereby ratified and confirmed.
Resolution Number SA 21-03
PASSED, APPROVED and ADOPTED by the Board of Directors of the Successor
Agency to the Seal Beach Redevelopment Agency at a regular meeting held on
the 13 day of December, 2021, by the following vote:
AYES: Massa-Lavitt, Moore, Sustarsic, Varipapa, Kalmick
NOES: None
ABSENT: None
ABSTAIN: None
Joe almick, Chair
F-110*1n
.d.
Gloria D. Harper,
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 21-03 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 13th day of
December, 2021.
Gloria D. Harper, secretary
ATTACHMENT A
Unaudited Final Accounting Statement
(attached)
12805-000112531048v2.doc
Balance Sheet
UNAUDITED PRELIMINARY ACCOUNTING STATEMENT ATTACHMENT
As Of 11/18/2021
Account
Name
Fund: 709 -Successor Agency
Debt Service
Assets
709-000-0000-10000
Cash in Bank
709-000-0000-10001
Claim on Cash
709-000-0000-10010
Cash with Fiscal Agent
Total Assets:
Uability
709-000-0000-21002
Accounts Payable Pending
709-000-0000-23000
Interest Payable
709-000-0000-29100
Deferred Inflows - Pension
Total Uability
Equity
Balance
0.00
2,462.28
0.00
2,462.28 2,462.28
0.00
0.00
0.00
0.00
709-000-0000-39500 Fund Balance Unassigned 2,462.28
Total Beginning Equity: 2,462.28
Total Revenue 0.00
Total Expense 0.00
Revenues Over/Under Expenses 0.00
Total Equity and Current Surplus (Deficit): 2,462.28
Total Uabilities, Equity and Current Surplus (Deficit): 2,462.28
11/18/2021 9:49:45 PM Page 3 of 5
Liability
711-000-0000-21000
UNAUDITED PRELIMINARY ACCOUNTING STATEMENT ATTACHMENT A
Balance Sheet
711-000-0000-21002
As Of 11/18/2021
Account
Name
Balance
Fund: 711- Successor Agency Retirement Obligation Fund
711-000-0000-29100
Assets
0.00
Revenues Over/Under Expenses
711-000-0000-10000
Cash in Bank
0.00
711-000-0000-10001
Claim on Cash
533,063.24
711-000-0000-10200
GASB 31 Fair Value Adjustment
0.03
711-000-0000-11000
Accounts Receivable
0.00
711-000-0000-11070
Interest Receivable
0.00
Total Assets:
533,063.27 533,063.27
Liability
711-000-0000-21000
Accounts Payable
0.00
711-000-0000-21002
Accounts Payable Pending
0.00
711-000-0000-22000
Accrued Payroll
0.00
711-000-0000-29100
Deferred Inflows- Pension
0.00
Revenues Over/Under Expenses
Total Liability:
0.00
Equity
711-000-0000-39500
Fund Balance Unassigned
13,456.73
Total Beginning Equity:
13,456.73
Total Revenue
528,035.99
Total Expense
8,429.45
Revenues Over/Under Expenses
519,606.54
Total Equity and Current Surplus (Deficit):
533,063.27
Total Liabilities, Equity and Current Surplus (Deficit): 533,063.27
11/18/2021 9:49:45 PM Page 5 of 5
UNAUDITED FINAL ACCOUNTING STATEMENT
Account Name
Fund: 709 - Successor Agency Debt Service
Assets
709-000-0000-10001
709-000-0000-10010
Liability
709-000-0000-21002
709-000-0000-29100
Equity
Cash in Bank
Claim on Cash
Cash with Fiscal Agent
Accounts Payable Pending
Interest Payable
Deferred Inflows - Pension
Balance
0.00
0.00
0.00
Total Assets: 0.00 0.00
0.00
0.00
0.00
Total Liability: 0.00
709-000-0000-39500 Fund Balance Unassigned 2,462.28
Total Beginning Equity: 2,462.28
Total Revenue 0.00
Total Expense 2,462.28
Revenues Over/Under Expenses -2,462.28
Total Equity and Current Surplus (Deficit(: O.DD
Total Liabilities, Equity and Current Surplus (Deficit(: 0.DO
ATTACHMENT A
Balance Sheet
Account Summary
As Of 12/07/2021
12/7/2021 11:22:34 AM - Page 1 of 1
UNAUDITED FINAL ACCOUNTING STATEMENT
Account
Name
Fund: 711 - Successor Agency Retirement Obligation Fund
Assets
0.00
711-000-0000-10000
Cash in Bank
711-000-0000-10001
Claim on Cash
711-000-0000-10200
GASB 31 Fair Value Adjustment
711-000-0000-11000
Accounts Receivable
711-000-0000-11070
Interest Receivable
Total Assets:
Liability
711-000-0000-21000
711-000-0000-21002
711-000-0000-22000
711-000-0000-29100
Equity
711-000-0000-39500
Total Revenue
Total Expense
Revenues Over/Under Expenses
Accounts Payable
Accounts Payable Pending
Accrued Payroll
Deferred Inflows- Pension
Total Liability:
Balance
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Fund Balance Unassigned 13,456.73
Total Beginning Equity: 13,456.73
528,035.96
541,492.69
-13,456.73
Total Equity and Current Surplus (Deficit): 0.00
Total Liabilities, Equity and Current Surplus (Deficit): 0.00
ATTACHMENT A
Balance Sheet
Account Summary
As Of 12/07/2021
12/7/2021 11:22:06 AM Page 1 of 1