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2017/01/11 Successor Agency Oversight Board Resolution (3) i • RESOLUTION NO. OSB 2017-03 A RESOLUTION OF THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY CITY OF ROHNERT PARK APPROVING THE ANNUAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR JULY 1, 2017—JUNE 30, 2018 ("ROPS 17-18"), PURSUANT TO SECTION 34177 (o) OF THE CALIFORNIA HEALTH AND SAFETY CODE WHEREAS,the Redevelopment Dissolution Law(AB 1X 26,enacted June 28,2011,as amended by AB 1484,enacted June 27,2012,and hereinafter, "Dissolution Law")provided for the creation of the Successor Agency City of Rohnert Park ("Successor Agency"), as successor agency to the Community Development Commission of the City of Rohnert Park ("Commission") and required the Successor Agency, among other things, to expeditiously wind down the Commission's affairs, while continuing to meet the Commission's enforceable obligations and overseeing completion of redevelopment projects and disposing of the assets and properties of the Commission, all as directed by the oversight board created pursuant to Section 34179 of the Health and Safety Code ("Oversight Board"); and WHEREAS, Section 34177 (o) of the Health and Safety Code requires the Successor Agency, following approval by the Oversight Board, to submit to the State Department of Finance ("DOF"), the State Controller, and the Sonoma County Auditor-Controller-Treasurer-Tax Collector ("County Auditor") for review, the Recognized Obligation Payment Schedules ("ROPS") in the manner provided by the Department of Finance; and WHEREAS,pursuant to the Dissolution Law, the ROPS for the period of July 1, 2017 to June 30,2018("ROPS 17-18")must be submitted to the Sonoma County Auditor-Controller-Treasurer- Tax Collector,State Controller's Office and Department of Finance no later than February 1, 2017, after approval by the Oversight Board; and WHEREAS, Successor Agency staff have prepared the attached ROPS, which was approved by the Successor Agency's governing board on January 10, 2017; and WHEREAS. Successor Agency staff have submitted the attached ROPS to the Oversight Board for review and approval, and at the same time have provided a copy of the attached ROPS to the County Administrative Officer, the County Auditor and DOF, all as required pursuant to Health and Safety Code Section 34177 (o). NOW,THEREFORE,THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY CITY OF ROHNERT PARK DOES RESOLVE AS FOLLOWS: Section 1. The Recognized Obligation Payment Schedule for the period of July 1, 2017 to June 30, 2018 ("ROPS 17-18") in the form attached to this Resolution as Exhibit A and incorporated herein by reference, is hereby approved. Section 2. The staff of the Successor Agency is hereby directed to submit the ROPS to DOF, the State Controller and the County Auditor-Controller-Treasurer-Tax-Collector, and post the ROPS on the Successor Agency's website in accordance with Health and Safety Code Section OAK N4822-8097-4110%4 • 34177(1)(2)(C), and to cooperate with DOF to the extent necessary to obtain DOF's acceptance of the ROPS,correct clerical errors or omissions including, if necessary, making modifications to the ROPS determined by the City Manager to be reasonable and financially feasible to meet its legally required financial obligations. DULY AND REGULARLY ADOPTED by the Oversight Board for the Successor Agency City of Rohnert Park this 11 th day of January, 2017. OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY CITY OF ROHNERT PARK Chair Mary Gr Pawson ATTEST: Eydie Tacata, Clerk of the Board Downey: -.$ Jolley: e3 Masterson: Thompson:3eS Zane: P,,S Mackenzie: Pawson: yS, AYES: ( ) NOES: ( Q ) ABSENT: ( I ) ABSTAIN: ( 0 ) OAK 44822-$097-41 10 v4 . . 0 o in 0) o m • as o o N. N. 0 n o 0 0 to ai o ai I- O O H N U) N- u-) U) Cr) r- N V CO to U') to h a 0 a v) u3 to O 0 v • 0 v O 0 CO CO O CO O O h N U) r` CU C O O elN C) p 3 U7 U) K) V e- O Ca L.w CO r 3 r.-- C N- N w N U> ' ' ' r- O c- ID (I)T 0 (O 0) 0) C. cr) F 0 Ta a O U) .O E V c7 ,- V 1- V N N N atv oao L r'-- y, O E r V r` E vi 69 .f) o 1) CV m U) CO D O 0 • N- a`) O r a Z or) CO z d o O ON ce c_ D CD C 7 J O '0 -' a) (f) a) L 3 W _E 0) D tV is I V u E c O S = Z is F- c r- rts Q G� c) va � N F- } a is W O• CI)L LL C r0 a p LL a G) U a N 0O g a +al C un � ' 0 toillO OV O N_ O Q N • alLL C O y C CO is Q) A) U. 0 -0 E O Y O to C 7 as i6 C ra I- c to u c a) a w - K - Ltam cc t E c a O 03 °) m ra to O 0 C LL a) .EC t6 CI) O L to Q LL t9 L_ _ d' (n C O O I- v U O t0 O d a a v) m 01 o c m °) w m r` D E a a) 0 8 m -0 a io o a)v t° u Cr `O 3 0 ~ N M y U U .c a L Li- > E a a) C C O N -6 U CC Q7 L y a "E6 , U r E Q Ca 0 O COO_ O Ce D < d O cn to a) C 3 C O El- O a w U g a c to .6 c u o go V C O) C 3• O 3 Q CO 0 0 W ti. 0 I r ` N 7 to tU 7 tU D Q) 0 0 0 0a r0 m Rohnert Park Recognized Obligation Payment Schedule (ROPS 17-18) - ROPS Detail July 1, 2017 through June 30. 2018 .. ..M �© ©ea © sMMMMPOPS ©eee© Project Name/Debt Obligationi Obligation Type ',c'i-•• ptiori/Project Scope Project Area • 17-111 I1,MMM ���®� 111 ����� III • • 111 I I11—������� © 11• Tax Aflocation Bonds- I 11refundingN. ®�-----®---— 2007R Tax Allocation Bonds 2007H Tax ATIocal'on Bonds 2-003LRRB's 90% Paid by CDC ������[Lease Revenue Refunding Bonds - AliTwance • • • ® I 1 of RoMert '.rk ;-,port c,%s ,•. -Fx,,�,,live1, I 1111 © 1111 ---- 111 111 --- 111 ® C y General Fund Loan CltyiCounly Loan (PriorCash e0chairige 111 ofR.hnet Park ®• - - - '; MMIM Rohnert Park Recognized Obligation Payment Schedule (ROPS 17-18) - Report of Cash Balances (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 paVment on the ROPS but only to the extent no other funding source is available or when payment from property tax revenues is required bV an enforceable ❑bligation..._1=or tips on how to complete the Report of Cash Balances Form, see Cash Balance Tips Sheet. A B C D E I F G H I Fund Sources Bond Proceeds Reserve Balance Other RPTTF Prior ROPS Prior ROPS period balances RPTTF Bonds issued Bonds issued and DDR RPTTF distributed as Rent, Non-Admin on or before on or after balances reserve for grants, and Cash Balance Information by ROPS Period 12/31/10 01/01/11 retained future period(s) interest, etc. Admin Comments ROPS 15-16B Actuals (01/01/16 - 06/30/16) 1 Beginning Available Cash Balance (Actual 01/01116) 2,255,194 109,392 4,696 526,893 (114,077) 12-31-15 ending balances from 16-17 ROPS 2 Revenue/Income (Actual 06130/16) RPTTF amounts should tie to the ROPS 15-16B distribution from the County Auditor -Controller during January 2016 1,345 10,009 3,247,233 3 Expenditures for ROPS 15-16B Enforceable Obligations (Actual Column H. Trustee errored and did not request 06/30/16) calendar year IDS payment for the 1999 and 2001 bonds in January, 2016. Retained cash 500,000 1,982,108 was paid to trustee in July, 2016 4 Retention of Available Cash Balance (Actual 06/30/16) Column C - Bond Reserves held by Trustee. RPTTF amount retained should only include the amounts distributed as Column G- Revenue Sharing agreement paid out reserve for future period(s) in January, 2017. Column H - Trustee errored and did not request calendar year IDS payment for the 1999 and 2001 bonds. Retained cash of 1,756,444 509,753 1,265,526 $1,265,526 was paid to trustee in July, 2016 5 ROPS 15-16B RPTTF Balances Remaining No entry required 6 Ending Actual Available Cash Balance CtoG=(1 +2-3-4), H=(1 +2-3-4-5) $ 95 $ - $ 109,392 $ 4,696 $ 27,149 $ (114,478) CO 4) O L o i N N a5) a z 00 r— , u) 0 0 C (2) 0 (1J d E > [0 d cn O O (1) C 0 U G) Y c CL a) cu C p j t V f� w O z. i_. --- -- -------'-