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Home My WebLink AboutSuccessor Agency - 2025-01 RESOLUTION NO. 2025-01 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, 2025 —JUNE 30, 2026 ("ROPS 25-26") WHEREAS, pursuant to AB xl 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 annual fiscal period until the wind down and disposition of assets of the former Redevelopment Agency of the City of Huntington Beach; and The Successor Agency staff has prepared a ROPS for the annual fiscal period commencing on July 1, 2025 and continuing through June 30, 2026 ("ROPS 25-26") which is attached hereto as Exhibit A; and After reviewing ROPS 25-26,presented to and recommended for approval by Successor Agency staff', and after reviewing any written and oral comments from the public relating thereto, the Successor Agency Board desires to approve the ROPS 25-26; 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 25-26 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: (i) take all actions necessary under the Dissolution Act to post ROPS 25-26 on the Successor Agency website once approved by the Oversight Board to the Successor Agency; (ii)transmit ROPS 25.-26 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 25-26 as may be necessary to submit ROPS 25-26 in any modified form required by DOF, and ROPS 25-26 as so modified shall thereupon constitute ROPS 25-26 as approved by the Successor Agency pursuant to this Resolution. 24-15770/364201 1 RESOLUTION NO. 2025-01 4. The Successor Agency authorizes the Executive Director, or designee, to make such non-substantive changes and amendments to ROPS 25-26 as may be approved by the Executive Director of the Successor Agency and its legal counsel, ROPS 25-26 as so modified shall thereupon constitute ROPS 25-26 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 rights 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 rights 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 02/S7"day of January, 2025. Chairperson REVIEWED AND APPROVED: 4xecutive Directo APPROVED 0 FORM: neral Legal Counsel 24-15770/364201 2 EXHIBIT A RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD JULY 1, 2025 THROUGH JUNE 30, 2026 ("ROPS 25-26") [behind this page] Reso No. 2025-01 Exhibit "A" Recognized Obligation Payment Scehdule(ROPS 25-26)-Summary Filed for the,July 1,2025 through June 30,2026 Period Successor Agency: Huntington Beach County: Orange 25-26A Total 25-26B Total Current Period Requested Funding for Enforceable Obligations(ROPS Detail) (July.-December) (January-June) ROPS 25-26 Total 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): $ 4,862,480 $ 5,906,018 $ 10,768,498 F RPTTF $ 4,737,480 $ 5,781,018 $ 10,518,498 G Administrative RPTTF $ 125,000 $ . 125,000 $ . 250,000 H Current Period Enforceable Obligations(A+E): $ 4,862,480 $ 5,906,018 $ 10,768,498 Certification of Oversight Board Chairman: Signature Title 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.. Signature Title NnnlIngton Beach Recognized Obi Paton Payment Schedule(BOPS 23;5)-ROBS detail July 1.2026 through June 30,2026 (Report Amounts In PANG Odors) _ I Y I N I O ' P 0 I I S I T I Y I v W A II C 0 6 F G 1 J N L Tota' 25-211A(Joey•OFerIbq 2t4118(2arrry-Se90 outstrohg Fund Sources Fund Pewees Agreement Agnanern Dobl or BOPS 25-20 Band Reserve 25.21A Bond Rearm 2S Irmo Prop NrtWDebt 049ator Obleaton Type Execuson Date Temttnaegn Del Payee OnrgeeeYRgaat Scope Prop Aron OM green I Reared Tale blonds Balance Omer Funs RPTTF Admn RPTTF Tole Proceeds BeWlu Other Funds RPTTF I,Rdnn RPTTF Tod S 42.959944 1 S 10.700.49E 5 - S - S $4.737.20 S 12500o S 4A62400 S - S • $ • $S,7e1,011 $ 1251200 S 5A06.01$ 3 Merged Bonds Issued On 2002 Tax Asaauen or before Bank&Nw f Tar A ton Bonds Debt 1 ReMAry Bonds 12/31/10 01W2032 O02025 Payments Tr Co Sere ce Paymer y S S S i Merged — Botha Issued On 1999 Tad*Seaton antra Brit al New 1 as Megaton Bones Oebt Retummng Bonds 12/31/1C t/12/1999 6112024 Tait Trull Co Sema Payments 1 $ - I • 5 5 Merged Alban*. Tea Aseumn Bonds arbitrage 2002 Tax A6aalon Cangearate rebate eaWaeton-Fedrall IRS Ref ndre Bonds Fees 11/170010 6302024 SWOON Caeploro • Y 5 - S B - 0 Merged Mange Tax Moobon Bonds arbhage 1999 lax Monanr Comrtance rebate raluxator-Federal IRO 5.112 n6 Bonds Fees 11/174010 &dOR02a Spe0Aake Com0once • Y 1 -S S . a Marra! 2002 Tax Aeocator Bank of New Tax Megaton Bonds-Payment __ 9 Relummg Bonds 'Fees 6/192002 enr202a verb Melon to Feed Agent 4.-- - Y $ • - --S _- -_ 3 - a+Pe • 1999 Tao Alen/an genital New Tax Meralon Bonds-Payment : ' :: 61A 5 S 2 10 Series Bonds!mood On Esr..+a M Cove 2010 Sense A A Lease Revenue or dew. 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Lang6ne Gerona Co. yTslealaaa 5/16/2101 ion Mader pad beard en May 1172001 Merged . Y $ - 6 • 1 - 11g CdyICanly Loan 1►nee Weersaa Commensal 0/OY111PrmVe1 Cp el 91.4arylan P auresn r Ywr*ara Mare Plan y Tarnagten 111111617 6121013 Well Provrq Nerved 23.076.317 N 1 sa%A6 4.000.I03 $ 1460003 .aims $ 4.S3117U Successor Agency Res. No: 2025-01 STATE OF CALIFORNIA COUNTY OF ORANGE ) ss: CITY OF HUNTINGTON BEACH ) I, LISA LANE BARNES 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 21, 2025 and that is was so adopted by the following vote: AYES: Board Members: Twining, Kennedy, Burns, Van Der Mark, McKeon, Williams NOES: Board Members: None ABSENT: Board Members: Strickland ABSTAIN:. Board Members: None 4 I�` r!U Clerk of The Successor Agency to the Redevelopment Agency of.the City of Huntington Beach, California