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2014/09/29 Successor Agency Oversight Board Resolution i • RESOLUTION NO. OSB 2014-09 A RESOLUTION OF THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY CITY OF ROHNERT PARK APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR JANUARY 1, 2015—JUNE 30, 2015 ("ROPS 14-15B"), PURSUANT TO SECTION 34177 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"); WHEREAS, Section 34177(1)(2) 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") which include enforceable obligations and successor agency administrative costs for six-month periods; WHEREAS, pursuant to the Dissolution Law, the ROPS for the period of January 1, 2015 — June 30, 2015 ("ROPS 14-15B") must be submitted to the Sonoma County Auditor-Controller Treasurer-Tax Collector, State Controller's Office and Department of Finance no later than October 3, 2014, after approval by the oversight board; WHEREAS, Successor Agency staff have prepared the attached ROPS, which was approved by the Successor Agency's governing board on September 23, 2014; WHEREAS, the Oversight Board on September 16, 2013 by Resolution No. OSB 2013-05 found that certain Amended and Restated Loan Agreement No. 2 dated February 27, 1990, as amended by Amendment No. 1 to the Amended and Restated Loan Agreement No. 2 dated January 1, 1999 and Amendment No. 2 to the Amended and Restated Loan Agreement No. 2 dated October 10, 2000 ("Loan") had been made for legitimate redevelopment purposes; WHEREAS, in accordance with the requirements of Health and Safety Code Section 34191.4(b), the attached ROPS provides, among other things, for partial repayment of the Loan; WHEREAS, Successor Agency staff have calculated the current outstanding balance of the Loan to be $2.095,382; OAK#4822-8097-4 110 ti4 • 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(1)(2)(B). NOW,THEREFORE, THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY CITY OF ROHNERT PARK DOES RESOLVE AS FOLLOWS: Section 1. The Oversight Board hereby reaffirms its prior finding that the Loan was made for a legitimate redevelopment purpose and approves repayment of the outstanding balance of' the Loan and interest thereon in accordance with the requirements of Health and Safety Code Section 34191.4(b). Section 2. The Oversight Board hereby finds that the partial repayment of the Loan as listed on the attached ROPS does not exceed the maximum allowable payment pursuant to Health and Safety Code Section 34191.4(b). Section 3. The Recognized Obligation Payment Schedule for the period of January 1, 2015 — June 30, 2015 ("ROPS 14-15B") in the form attached to this resolution and incorporated herein by reference, is hereby approved. Section 4. The staff of the Successor Agency is hereby directed to submit the ROPS to DOF, the State Controller and the County Auditor and post the ROPS on the Successor Agency's website in accordance with Health and Safety Code Section 34177(1)(2)(C), and to cooperate with DOF to the extent necessary to obtain DOF's acceptance of the ROPS, 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 291h day of September, 2014. ATTEST: OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY CITY OF ROHNERT PARK 014., Eydie Tacata, Clerk of the Board Marily Ponto , air Cerreta: Nye. Jolley#At Mackenzie: C Masterson: kit Zane: Alt Thompson: Ponton: AYES: ( jp ) NOES: ( ) ABSENT: ( ) ABSTAIN: ( 0 ) ()Ali#4822-8097-4I 10 v4 • • / C � ' ' A $ $ c 3 3 A / ` / ƒ % \ f f ® co. 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IY U 5 i u . rC 4 _ m 4, _ � '� m • z i = g . 5 ,, maa ., . yy�U n c m 0 C c o .o 4 S 4 9 m,S E i 0 a c y T, G. v a m Z' m e n 8 s cis ds < d a arena �Q, 'p a 7i J, -n - N � pp �p AA.T U !. e n.�!.f in, ,y (V ,n -, th,7 T .• , w , , ~ 4 y , , f ,[.♦,l... -7.n:- .r.... .O d IU t> Y Recognized Obligation Payment Schedule (ROPS 14-158) - Report of Prior Period Adjustments Reported for the ROPS 13-14B (January 1, 2014 through June 30, 2014) Period Pursuant to Health and Safety Code (HSC) section 34186 (a) fRPnnrl Arnnunls in Whnle Ooi[Ars4 j ROPS 13-14B Successor Agency (SA) Self -reported Prior Period Adjustments (PPA): Pursuant to HSC Section 34186 (a), SAs are required to report the differences between their actual available funding and their actual expenditures for the ROPS 13-14B (January through June 2014) period. The amount of Redevelopment Property Tax Trust Fund (RPTTF) approved for the ROPS 14-15B (.January through June 2015) period will be offset by the SA's self -reported ROPS 13-14B prior period adjustment. HSC Section 34186 (a) also specifies that the prior period adjustments self -reported by SAs are subject to audit by the county audilor-controller tCAC) and the State Controller, A B C D E F G H ( J K L M N O P Q R S T Non-RPTTF Expenditures RPTTF Expenditures Bond Proceeds Reserve Balance Other Funds Non-Admin Admin Net SA Non-Admin and Admin PPA (Amount Used to Offset ROPS 14-15B Requested RPTTF) Item# Project Name ! Debt Obligation Authorized Actual Authorized Actual Authorized Actual Authorized Available RPTTF (ROPS 13-14B distributed + all other available as of 01/1/14) Net Lesser of Authorized ! Available Actual Difference (If K is less than L, the difference is zero) Authorized Available RPTTF (ROPS 13-14B distributed + all other available as of 01/1/14) Net Lesser of Authorized / Available Actual Difference (If total actual exceeds total authorized, the lotaI aofarance is zero) Net Difference (M+R) SA Comments $ $ $ 1.365.388 $ 1.360.692 $ $ $ 1,178.369 $ 1.178.369 $ 1.178,369 $ 1.178.367 $. 2 $ $ $ $ $ $ 2 1 1999 Tax Allocation Bonds 395.000 390.304 _ 2 2001 Tax Allocation Bonds 970.38E 970.388 3 2007R Tax Allocation Bonds - 486.959 486.959 486,959 486,959 4 2007H Tax Allocation Bonds 338,991 338,991 338.991 338,989 2 2 5 2003 LRRB's 90% Paid by CDC - 352.419 352.419 352.419 352.419 6 Administrative Allowance 7 Fund Contribution - - 8 Affordable Housing Loan - 9 Affordable HousIng Loan - 10 Hausi no Staff Support 11 HousI22 Maintenance 12 Burke, Williams and Sorenson 13 Rohnert Park Community Center Improvements 14 Recreational and Community Facllydes Improvements 15 Commercial Building Improvement Program - 16 Temporary Fire Station Facility 17 Community Sign Pr ram 18 Neighborhood Beautification Program 19 Avram Development/Former City Hall Reuse - 20 Southwest Fire Station Revue 21 Ratlnert Park Housing Rehabl8ladon Loan Program 22 Assistance to Community Based nizationss 23 Southwest Boulevard Shopping Center Site 24 Acquisition of Affordability Covenants 25 Subsidies for Non -Profit Development 26 Community Center Complex - CA SucG 5or A ency\015Solutjon a ROP5 ROPS 1-158\Rohnert PIT-ROPS 14-15B Fail anon copy __ S i in U a) CI C 7 U) n a3 CO a 0 I I . ca 4 1 I Z • QI I h j � j ; 1 s r LO in f 1 t 1 I I I 1 - U) � � CL Lc) U h- 1 1 O Iwo a) iiI ) i I 1I z Q1 Cr) 2 1 a) y •C; - i I 1 1 + O M : . 6- alE ...... c•5_ i 1 ! i ; ; , 1 cr = L ' m y E o I ! 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