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Home My WebLink AboutSuccessor Agency - 2016-01 RESOLUTION NO 2016- 01 A RESOLUTION OF THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD July 1, 2016—JUNE 30, 2017 ("ROPS 16-17") WHEREAS, pursuant to AB x 1 26 (as amended by AB 1484, the "Dissolution Act"), the separate legal entity known as Successor Agency to the Redevelopment Agency of the City of Huntington Beach ("Successor Agency") must prepare "Recognized Obligation Payment Schedules" ("ROPS") that enumerate the enforceable obligations and expenses of the Successor Agency for each successive six-month fiscal period until the wind down and disposition of assets of the former Redevelopment Agency of the City of Huntington Beach, and The Successoi Agency staff has prepared a ROPS for the six-month fiscal period commencing on July 1, 2016 and continuing through June 30, 2017 ("ROPS 16-17") which is attached hereto as Exhibit A; and After reviewing BOPS 16-17, presented to and recommended for approval by Successot Agency staff, and after reviewing any written and oral comments from the public relating thereto, the Successor Agency Board desires to approve the ROPS 16-17; and All of the prerequisites with respect to the approval of this Resolution have been met NOW, THEREFORE, the Successor Agency to the Redevelopment Agency of the City of Huntington Beach does hereby resolve as follows 1 The Successor Agency hereby finds and determines that the foregoing recitals are true and correct 2. The Successor Agency hereby approves ROPS 16-17 in the form presented to the Successor Agency and attached hereto as Exhibit A, and hereby determines that such agreements and obligations constitute "enforceable obligations" and "recognized obligations" for all purposes under the Dissolution Act 3 The Successor Agency authorizes and directs the Successor Agency staff to (1) take all actions necessary under the Dissolution Act to post ROPS 16-17 on the Successor Agency website once approved by the Oversight Board to the Successor Agency, (ir) transmit ROPS 16-17 to the Auditor-Controller and the County Administrator of the County of Orange and to the State Controller and the State Department of Finance ("DOF"), and (iii) to do any and all things and to execute and deliver any and all documents which may be necessary or advisable in order to effectuate the purposes of this Resolution. In addition, the Successor Agency authorizes and directs the Successor Agency staff to make such non-substantive revisions to ROPS 16-17 as may be necessary to submit ROPS 16-17 in any modified form requned by DOF, and ROPS 16-17 as so modified shall thereupon constitute 16-17 as approved by the Successor Agency pursuant to this Resolution 16-5060/130357 1 Resolution No . 2016-01 4 The Successoi Agency authorizes the Executive Diiectoi, or designee, to make such non-substantive changes and amendments to ROPS 16-17 as may be approved by the Executive Directoi of the Successoi Agency and its legal counsel, and ROPS 16-17 as so modified shall thereupon constitute ROPS 16-17 as approved by the Successor Agency pursuant to this Resolution 5 The Successor Agency does not intend, by adoption of this Resolution, to waive any constitutional, legal and/or equitable tights of the Successor Agency or the City of Huntington Beach under law and/or in equity by virtue of the adoption of this Resolution and actions approved and taken pursuant to this Resolution and, therefore, reserves all such tights of the Successor Agency and the City of Huntington Beach under law and/or in equity PASSED AND ADOPTED by the Successor Agency to the Redevelopment Agency of the City of Huntington Beach at a regular meeting thereof held on the 19th day of January , 2016 Ch ` REVIEWED AND APPROVED 01)4�1 E cukv"j Director APPROVED AS TO FORM. Ge eral Legal Counsel OZO LULVL( -- 2 16-5060/130357 Resolution No . 2016-01 EXHIBIT A RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD JULY 1, 2016 THROUGH JUNE 30, 2017 ("ROPS 16-17") [behind this page] r �f l� r-l- [D v Recognized Obligation Payment Schedule(ROPE 16-17)-Summary Filed for the July 1,2016 through June 30,2017 Period - t Successor Agency Huntington Beach ; County Orange r ROPS 16.17 Current Period Requested Funding for Enforceable Obligations ROPS Detail 16.17A Total 16.17E Total Total Enforceable Obligations Funded with Non-Redevelopment Property Tax Trust Fund(RPTTF)Funding e A Sources(B+C+D) S _ - $ $ a B Bond Proceeds Funding C Reserve Balance Funding D Other Funding e E Enforceable Obligations Funded with RPTTF Funding(F+G) S 6,674,772 $ 1,178,929 $ 7,853,701 F Non-Admmrstratrve Costs 6,549,772 _1,053,92t3 7,603,701 G Admrnistratrve Costs 125,000 { 125,000 250.000 x H Current Period Enforceable Obligations(A+E) 6,674,772 $ 1,178,929 $ 7,863,701 r = Certification of Oversight Board Chairman Pursuant to Section 34177(o)of the Health and Safety code,I hereby - candy fhat the above is a true and accurate Recognized Obligation Name Tile Payment Schedule for the above named successor agency is/ Signature Date , 4 ifu Oin, B-1,Recop nlzad I)Wlv"n Pi I ROPS 1A-17)-PROPS[vull 310y 1,2910 Ml.uqh June 10.11]17 R.E2tlA—.n4.1,V nvs LWIWO 16-17A A-170 11 7 r—'iis r, 41 pill, Flo— 'C Rib —ji 6 U ew Now- 74 11 L NMI., NO'M I Now nw limim 'AH up" 41 1"lil 2kT T-I rD H—Ingto-B—h fl—nna"ObilqalMrl P.y*h—S--(RCIPS 16 17} ROPa i3eIAIP 1.ly 1.sale Jun.10,2017 • Re rt AP10 i in M.I.fbRaro F RPI aA WWI 17; S.-W inA zo -d Ik, I M is I.—I OP R-5 Kmf Sk id Somm—wwm,- APR iza Op T 77P IRNR j4t�,774 � moo * 12,, , 6dw co-P xl; Hamm .............. ........ ... aa r.s I—IIN T-1 tf—,— H—fl.gl.Beach R.og.k"ObIlga"a Plynnehl"MOule I RGn 18-17) M)PS 13e?.11 July 1.MG through June H.=7 IBr.q,tA——n—,Mll... A ft E 41— I-- a WOW W 7*,=*w 77M ..I J I d�4 AIR— SIM 0" 1 IT i]Fm 4— S t4;—II rl ......... -2.311 17 7, tit sin T" r� tti ._y Huntington Beach Recognized Obligation Payment Schedule(RODS 16-17)-Report of Cash Balances (Report Amounts in Whole Dollars) 1 Pursuant to Health and Safety Code section 34177(1),Redevelopment Properiy Tax Trust Fund(RPTTF)may be listed as a source of payment on the RODS,but Only to the eXterlt no oth(?r funding source is available or when payrnent from property tau revenues is required by an enforceable obligation- For tips cn how to complete the Report of Cash Balances F011111,We S-1 BA.tA'rdCl ^II"; l If fT A B C D E F G H I Fund Sources Bond Proceeds Reserve Balance Other RPTTF Prior POPS Prior RnPS period balances RPTTF Bonds issued on and DDR RPTTF distributed as Rent, Non-Admin or before Bonds issued on balances reserve for future grants and Cash Balance Information b ROPS Period 12+31+10 or after 01l01111 retained peMod(s} Interest,etc. Admin Comments ROPS 15-16A Actuals 0710111 5-12131115). 1 Beginning Available Cash Balance(Actual 07101)151 2.767,750 414.555 36.180 2 Revenue/Income(Actual 12131115) RPTTF amounts should tie to the POPS 15.16A distribution from the County Auditor-Conlrol er during June 2015 390,07-1 4 068.803 3 Expenditures for BOPS 15.16A Enforceable Obligations(Actual 12131115) r 4 Retention of Available Cash Balance(Actual 121311151 RPTTF amount retained should only include the amounts distributed as reserve for future period(sI 5 ROPS 15.16A RPTTF Balances Remaining No entry rery-uirerl 6 Ending Actual Available Cash Balance CtoG=(1+2.3.4),H=(1+2-3.4.6) $ $ $ $ $ 429,628 S 37,561 ROPS 15.16B Estimate 011OV16-06130116 7 Beginning Available Cash Balance(Actual 0110f116) (C,D,E,G=4+6,F=H4+F4-i F6,and H=6+6) $ $ $ $ $ 429,628 $ 37,691 6 Revenuellncome(Estimate 06130116) Decrease ire Other Revenue is due to the planned RPTTF amounts should tie to the RODS 15-16B distribution from the sale of the Waterfront properly and related loss of Counl. Auditor-Controller(kinnq Jantmy 20166 5.00(_i _ 3,961,952 lease income 9 Expenditures for RODS 15-16B Enforceable Ohllgatlons(Estimate 061301161 -r. 10 Retentlon of Available Cash Balance(Estimate 06Q01161 RPTTF amount retained should only include the amounts distributed as reserve for future periods) 11 Ending Estimated Available Cash Balance 17+6-9-10} $ - $ • $ $ - $ 234,626 $ Successor Agency Res. No. 2016-01 STATE OF CALIFORNIA COUNTY OF ORANGE ) ss: CITY OF HUNTINGTON BEACH ) I, JOAN L FLYNN the Clerk of the Successor Agency to the former City of Huntington Beach Redevelopment Agency, Huntington Beach, California, DO HEREBY CERTIFY that the foregoing resolution was duly adopted by The Successor Agency to the Redevelopment Agency of the City of Huntington Beach at a special meeting held on January 19, 2016 and that is was so adopted by the following vote AYES: Posey, O'Connell, Sullivan, Katapodis, Hardy, Delgleize, Peterson NOES: None ABSENT: None ABSTAIN: None Clerk(If The SuccessW Agency to the Redevelopment Agency of the City of Huntington Beach, California