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Home My WebLink About00 OVERSIGHT BOARD AGENDA OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE FORMER TUSTIN COMMUNITY REDEVELOPMENT AGENCY COUNCIL CHAMBER 300 CENTENNIAL WAY TUSTIN, CALIFORNIA SPECIAL MEETING MAY 29, 2012 4:00 P.M. CALL TO ORDER ROLL CALL Chair Doug Davert Vice Chair Debra Fitzsimons Secretary Jerry Amante Board Member John Nielsen Board Member Chuck Puckett Board Member Matt West Board Member Anthony Soria PLEDGE OF ALLEGIANCE – Board Member Nielsen PUBLIC INPUT (Limited to 3 minutes per person on items not on the Agenda) At this time members of the public may address the Oversight Board on any subject matter pertaining to former Tustin Community Redevelopment Agency business and within the subject matter jurisdiction of the Oversight Board (no action can be taken on off-agenda items unless authorized by law). Please fill out one of the forms located at the speaker’s table so that your remarks within the recording of the meeting can be attributed to you. CONSENT CALENDAR 1. APPROVAL OF MINUTES – REGULAR MEETING OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE FORMER TUSTIN COMMUNITY REDEVELOPMENT AGENCY HELD ON APRIL 10, 2012 Recommendation: That the Board approve the Minutes of the Regular Meeting of the Oversight Board of the Successor Agency to the Former Tustin Community Redevelopment Agency held on April 10, 2012. ADA Assistance If you need special assistance to participate in this Oversight Board meeting, contact the City Clerk’s Office at (714) 573- 3026. Please call at least 72 hours prior to the meeting to allow the City to make reasonable arrangements to ensure accessibility to this meeting. (28 CFR 35.102.104 American Disabilities Act Title II) 2. SECOND AMENDED INITIAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE ( "ROPS ") FOR THE PERIOD OF JANUARY THROUGH JUNE 2012 AND AMENDED ADMINISTRATIVE BUDGET FOR THE SAME PERIOD Recommendation/Proposed Action: 1. Reaffirm modifications to the Initial ROPS (period of January-June 2012) made by the Successor Agency and transmitted to the Department of Finance ( "DoF ") on May 10, 2012 as authorized previously by the Oversight Board, certified by the Oversight Board Chair and as requested by DoF, subject to the following: A. All modifications to the Initial ROPS (labeled "Second Amended Initial ROPS ") requested by DoF were made under protest with the Oversight Board and Successor Agency reserving all rights to seek payment for any obligations removed from the ROPS under protest. B. Review and certification by the County Auditor-Controller selected independent auditor. C. Should any subsequent modifications be required to the Second Amended ROPS by the Successor Agency, independent auditor or DoF, the City Manager and /or Finance Director, or their authorized designee, shall be authorized to make any augmentation, modification, additions or revisions as may be necessary subject to certification by the Oversight Board Chair. 2. Approve the proposed Successor Agency action to amend its Administrative Budget for the period of January - June 2012, adjusted to reflect the Second Amended ROPS for the same period, pending Successor Agency approval. 3. Approve any subsequent Successor Agency action, if necessary, to enter into a Second Amended Agreement for reimbursement of costs incurred by the City to support Successor Agency operations and obligations for the period of January through June 2012, to reflect the modifications to the Administrative Cost Allowance and Administrative Budget for this period requested by DoF as noted in recommendation #2 above. (Note: the above action of the Oversight Board does not become effective for 3 business days, pending any request for review by the California Department of Finance ("DoF"). If DoF requests review of this Oversight Board action, it shall have 10 days from the date of its request to approve the Oversight Board Oversight Board of the Successor Agency of the Page 2 Former Tustin Community Redevelopment Agency Special Meeting Agenda – May 29, 2012 action, or return it to the Board for reconsideration and the action, if subject to review by DoF, shall not be effective until approved by DoF.) 3. FIRST AMENDED SECOND RECOGNIZED OBLIGATION PAYMENT SCHEDULE (JULY - DECEMBER 2012) AND AMENDED ADMINISTRATIVE BUDGET Recommendation/Proposed Action: 1. Reaffirm modifications to the ROPS made by the Successor Agency and transmitted to the Department of Finance ("DoF") on May 10, 2012 as authorized previously by the Oversight Board, certified by the Oversight Board Chair and as requested by DoF, subject to the following: A. All modifications to the Recognized Obligation Payment Schedules ("ROPS") requested by DoF were made under protest with the Oversight Board and Successor Agency reserving all rights to seek payment for any obligations removed from the ROPS under protest; B. Review and certification by the County Auditor-Controller selected independent auditor, and; C. Should any subsequent modifications be required to the First Amended Second ROPS by the Successor Agency, independent auditor, or DOF, the City Manager and/or Finance Director, or their authorized designee, shall be authorized to make augmentation, modification, additions, or revisions as may be necessary subject to certification by the Oversight Board Chair. 2. Approve proposed Successor Agency action to amend its Administrative Budget for the period of July-December 2012, adjusted to reflect the Second Amended ROPS, pending Successor Agency approval. 3. Approve any subsequent Successor Agency action, if necessary, to enter into a Second Amended Agreement for reimbursement of costs incurred by the City to support Successor Agency operations and obligations for Fiscal Year 2012-13, to reflect the modifications to the Administrative Cost Allowance and Administrative Budget for Fiscal Year 2012-13 requested by DoF, including the period of July- December 2012 as noted in recommendation #2 above. (Note: the above action of the Oversight Board does not become effective for 3 business days, pending any request for review by the California Department of Finance ("DoF"). If DoF requests review of this Oversight Board action, it Oversight Board of the Successor Agency of the Page 3 Former Tustin Community Redevelopment Agency Special Meeting Agenda – May 29, 2012 shall have 10 days from the date of its request to approve the Oversight Board action, or return it to the Board for reconsideration and the action, if subject to review by DoF, shall not be effective until approved by DoF.) 4. REPAYMENT SCHEDULE - THE HOUSING DEFICIT REDUCTION PLAN FOR THE FORMER TOWN CENTER REDEVELOPMENT PROJECT AREA Recommendation/Proposed Action: Reaffirm the repayment schedule for the former Town Center Redevelopment Project Area's Housing Deficit Reduction Plan as shown in the Second ROPS, as amended. (Note: the above action of the Oversight Board does not become effective for 3 business days, pending any request for review by the California Department of Finance ("DoF"). If DoF requests review of this Oversight Board action, it shall have 10 days from the date of its request to approve the Oversight Board action, or return it to the Board for reconsideration and the action, if subject to review by DoF, shall not be effective until approved by DoF.) 5. INVENTORY OF FORMER TUSTIN COMMUNITY REDEVELOPMENT AGENCY REAL PROPERTY ASSETS Recommendation/Proposed Action: Receive and File 6. TUSTIN RANCH ROAD ROADWAY IMPROVEMENTS REQUIRED MATCH FUNDS FROM MCAS 2010 TAX ALLOCATION BOND PROCEEDS Recommendation/Proposed Action: 1. Again, reaffirm the previous award of the construction contract for the Tustin Ranch Road Phase I - Grading and Storm Drain Project (CIP No. 70-100 and 70206) as an enforceable obligation using the amounts appropriated utilizing MCAS Tustin 2010 Tax Allocation Bond proceeds and the Agency's previous authorization for the Successor Agency to award the construction contract for the Tustin Ranch Road Phase 2 Roadway Improvements (CIP Nos. 70100, 70100, 70206, 70214 & 70215) to the lowest bidder, R.J. Noble Company, utilizing MCAS Tustin 2010 Tax Allocation Bond proceeds for their intended use, as an enforceable obligation. 2. Approve the Successor Agency acceptance of financial assistance from a variety of private and public funding sources for the Tustin Ranch Road Phase I Project, conditioned upon the provision of matching funds in the amount of $5,983,863 from the MCAS Tustin 2010 Tax Allocation Bond proceeds and approve the Successor Agency's acceptance of financial assistance from the Orange County Transportation Agency, a State grant and from other public and private Oversight Board of the Successor Agency of the Page 4 Former Tustin Community Redevelopment Agency Special Meeting Agenda – May 29, 2012 Transportation Agency, a State grant and from other public and private sources for the Tustin Ranch Road Phase 2 Roadway Project, conditioned upon the provision of matching funds in the amount of $8,164,931 from MCAS Tustin 2010 Tax Allocation Bond proceeds, or any additional amount necessary to support any unforeseen change orders during construction beyond a normal 10 percent contingency for the Project. 3. Authorize the Successor Agency to enter into a reimbursement agreement with the City for the Successor Agency's match contribution to the Phase I and Phase 2 Tustin Ranch Road Improvements Project in the amount shown in Recommendation No. 2 above, to be a disbursed from MCAS 2010 Tustin Tax Allocation Bonds to the City of Tustin. ADJOURNMENT: The next regular meeting of the Oversight Board of the Successor Agency of the Former Tustin Community Redevelopment Agency is scheduled for June 12, 2012 at 4:00 p.m. in the Council Chamber at 300 Centennial Way, Tustin, California. Copies of the staff reports or other written documentation related to each item of business described above are on file in the office of the Clerk of the Successor Agency to the Tustin Community Redevelopment Agency, 300 Centennial Way, Tustin, CA 92780 and are available for public inspection during regular business office hours. Copies of staff reports and written materials may be purchased for $.10 per page. In addition, staff reports can be reviewed online at www. tustinca. orp AFFIDAVIT OF POSTING STATE OF CALIFORNIA ) COUNTY OF ORANGE ) CITY OF TUSTIN ) I, Pamela Stoker, City Clerk on behalf of the Successor Agency hereby certify, under penalty of perjury, that I caused the posting of this agenda by 5:00 p.m., Friday, May 25, 2012, in the public notice display case in front of the Council Chamber, 300 Centennial Way, Tustin, the public bulletin board at the Tustin Area Senior Center, 200 "C" Street, and the public display case at the Tustin Library, 345 E. Main Street, Tustin. � � x PAMELA STOKER, CITY CLERK Oversight Board of the Successor Agency of the Page 5 Former Tustin Community Redevelopment Agency Special Meeting Agenda — May 29, 2012