HomeMy WebLinkAbout05 2ND AMENDED AGREEMENT BETWEEN CITY/SUCCESSOR AGENCY FOR ADMIN SUPPORT-PHASE 1-2 TUSTIN RANCH RD PROJECTMEETING DATE: JUNE 19, 2012
TO: JEFFREY C. PARKER, CITY MANAGER
FROM: CITY MANAGER'S OFFICE
SUBJECT: SUCCESSOR AGENCY APPROVAL OF AMENDED
ADMINISTRATIVE BUDGETS AND AUTHORIZATION TO ENTER
INTO A SECOND AMENDED AGREEMENT BETWEEN THE CITY
AND SUCCESSOR AGENCY FOR ADMINISTRATIVE SUPPORT
AND A MATCHING CONTRIBUTION TO THE PHASE 1 AND
PHASE 2 TUSTIN RANCH ROAD PROJECT
SUMMARY
Successor Agency approval is requested of amended Administrative Budgets and
authorization for the City and Successor Agency to enter into a Second Amended
Agreement for reimbursement of administrative support and a matching contribution to
the Phase 1 and Phase 2 Tustin Ranch Road Project using MCAS Tustin Bond
Proceeds.
RECOMMENDATION
1. It is recommended that the City Council approve and authorize the City to enter into
a Second Amended Agreement for Reimbursement of Costs and City /Successor
Agency Operations Loan with the City acting as Successor Agency to the Tustin
Community Redevelopment Agency.
2. It is recommended the City, acting as the Successor Agency to the Tustin
Community Redevelopment Agency ( "City Successor Agency "), take the following
actions:
A. Approve the attached amended Administrative Budgets pursuant to California
Health and Safety Code (HSC) Section 341770). Should any subsequent
modifications be determined necessary, 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 Oversight
Board approval.
Agenda Report
June 19, 2012
Page 2
B. Approve and authorize the Successor Agency to enter into an Agreement for
Reimbursement of Costs and City /Successor Agency Operations Loan with the
City for reimbursement of costs incurred by the City to support Successor
Agency operations, obligations consistent with the Administrative Budget
approved by the Successor Agency, and the provision of matching funds in the
amount of $14,148,794 from the MCAS Tustin 2010 Tax Allocation Bonds
proceeds for Phase 1 and Phase 2 Tustin Ranch Road Improvements Project.
The Successor Agency shall also be authorized to enter into any agreements
necessary to provide administrative support services as identified in the
Administrative Budgets attached hereto.
BACKGROUND
HSC Section 341770) required the Successor Agency to prepare a proposed
administrative budget for upcoming six month periods and submit it to the Oversight
Board for approval. According to the HSC Section 341770), the administrative budget is
to include all of the following: (i) estimated amounts of the Successor Agency's
administrative costs for the up- coming six month fiscal period; (ii) the proposed sources
of payment for the costs identified in (i); and (iii) proposals for arrangements for
administrative and operations services provided by the city, county, city and county, or
other entity. Pursuant to HSC Section 34171, the Administrative Budget for FY 2011-
2012 is for administrative costs of the Successor Agency payable from property tax
revenues of up to five percent (5 %) of property tax allocated to the Successor Agency
during FY 2011 -2012. The Administrative Budget for FY 2012 -2013 is payable from
property tax revenues of up to three percent (3 %) of property tax allocated to the
Redevelopment Obligation Retirement Fund during FY 2012 -13. In any event, the
amount allocated for administrative costs shall not be less than Two Hundred Fifty
Thousand Dollars ($250,000) for any fiscal year.
While the Oversight Board previously approved an Administrative Budget for FY 2011-
12 at its regular meeting on March 13, 2012 and for Fiscal Year 2012 -13 on April 10,
2012, the Department of Finance (DoF) required modifications to the Recognized
Obligation Payment Schedule (ROPS) for the period of January through June 2012 and
for the period of July 2012 through December 2012. These modifications necessitated
modifications to the Administrative Budgets for each time period. The Oversight Board
Agenda Report
June 19, 2012
Page 3
at its regular meeting on May 29, 2012 reviewed amendments to each previous ROPS
and the Administrative Budgets for the period noted above.
On May 25, 2012, DoF approved the Successor Agency's Second Amended
Recognized Obligation Payment Schedule ( "Second Amended ROPS ") for the period of
January through June 2012 and the First Amended Second Recognized Obligation
Payment Schedule ( "First Amended Second ROPS ") for the period of July through
December 2012. These amended ROPS and the Oversight Board actions of May 29,
2012 result in the need for the Successor Agency to now reduce administrative costs in
each ROPS as follows:
• The Second Amended ROPS to $813,359 for February through June 2012 (a
$69,387 reduction to the original Administrative Budget), and;
• The First Amended Second ROPS to $383,095 for Fiscal Year 2012 -12 and for the
period of July through December 2012 to an amount of $292,125 (an original
Administrative Budget was $444,196).
Attached are the proposed amended Successor Agency Administrative Budgets for the
periods of February 2012 through June 2012 (Second Amended ROPS) and July 2012
through December 2012 (First Amended Second ROPS) which reflect the revised
administrative costs. Under HSC 34177(k), the Successor Agency provides these
administrative cost estimates to be paid from property tax revenues deposited into the
Redevelopment Property Tax Trust Fund to the County of Orange Auditor - Controller for
each six month fiscal period. Since the ROPS may change in the future, staff also
requests that any future modifications necessary to the Administrative Budgets for either
period be authorized to be made by the City Manager or Finance Director subject to
Oversight Board approval.
In conjunction with the past approvals of the Administrative Budget for FY 2011 -12 and
2012 -2013, including each six month ROPS time frame, the City and Successor Agency
entered into an Agreement for reimbursement of costs incurred by the City to support
Successor Agency operations and obligations, (original agreement approved March 20,
2012 and a First Amendment on April 17, 2012). The Oversight Board at its meeting on
March 29, 2012 authorized the Successor Agency to enter into a subsequent
amendment to this agreement to reflect the revised Administrative Budgets modified in
Agenda Report
June 19, 2012
Page 4
conjunction with approval of the Second Amended ROPS and First Amended Second
ROPS.
On May 29, 2012 the Oversight Board, pursuant to HSC Section 34180(e), approved
the acceptance of financial assistance from a variety of private and public funding
sources for the Tustin Ranch Road Phase 1 and Phase 2 Projects conditioned upon the
provision of matching funds from the MCAS 2010 Tustin Tax Allocation Bonds ( "MCAS
Tustin Bond Proceeds ") in the amount of $5,983,863 for Phase 1 and $8,164,931 for
Phase 2, for a total match of $14,148,794. In addition, in compliance with HSC Section
34180(h), the Oversight Board also authorized the Successor Agency to enter into a
reimbursement agreement with the City for the Successor Agency's matching
contributions to each phase of the Tustin Ranch Road Project from MCAS Tustin Bond
Proceeds.
To ensure provision of matching funds for each phase of the Tustin Ranch Road Project
using MCAS Tustin Bond Proceeds and the necessary services from the City to support
Successor Agency responsibilities in winding down the activities of the former
redevelopment agency, it is necessary that the City and City Successor Agency
approve a Second Amended Agreement for reimbursement of costs incurred by the City
to support Successor Agency operations and obligations. A copy of the revised
agreement is attached for City and Successor Agency approval.
Christine Shingleton
Assistant Executive Dir for
Successor Agency to the Tustin
Community Redevelopment Agency
1
Pamel
Finance Director
Successor Agency to the Tustin
Community Redevelopment Agency
Attachments: 1. Proposed Administrative Budgets for February 1, 2012 through
June 30, 2012 and July 1, 2012 through December 31, 2012
2. Proposed City and Successor Agency Second Amended
Agreement for Reimbursement of Costs for Fiscal Years
2011 -2012 and 2012 -2013
Attachment 1
Administrative Budgets
February 1, 2012 through June 30, 2012
July 1, 2012 through December 31, 2012
Object
Code
Position
ESTIMATED REVEN
Object P _
1U
Parcantto Total FY -Admbl
February thru June
' -,- I � •„ +- • - i
f .a- .
- .
2012 5Months
1 Estimated Property Tax allocated to Successor Agency for FY
32,859
27.393
2011/12
$ 20,413629
.
2 LESS Estimated Pass -Tbrou hs
2,445,071
11,640
LESS DoF Disallowed Items: 5, 9 10 13 &.59 -1st Amend ROPS
1701372
160,840
3 Estimated Property Tax allocated to Successor Agency Less Pass-
40,210
16755
Throughs
16,267,186
157,027
4 Administrative Cost Allowance for FY 1112 (S months)
5% 813,359
813359
5 5000
Project Manager
123,778
ESTIMATEDE7tPENSEs
Object
Code
Position
Fiscal Veer -Total
I� S4'+
" " "" : -
-9 -Admin
`_:r. r:'. cost
February thru June
2012 IS MonthS
1 .5000
Assistant Executive Director
109.S29
30%
32,859
27.393
2 5000
Finance Director
232,809
11%
25,609
11,640
3 5000
Pro mm Mana ergs
160,840
25%
40,210
16755
4 5000
Program Manager g2
157,027
25%
39,257
16.355
5 5000
Project Manager
123,778
0%
6 5000
Management Analyst
86,609
0%
7 5000
Administrative Secretary
Sub -Total Wages, Benefits and WC:
73,522
$ 944,114
100%
73,522
30,635
$ 211,457
$ 102,768
OTHER ADMINISTRATIVE DIRECT COSTS
",r-
Object
-Code
lam
Total During Fiscal Year
2011/12
Percent to
Admin
Total FY -Admin
costs
February thru June
2012 IS Months
1 6147
Bank Service Charges
7,600
100%
7,600
3,000
2 6355
Telephone
4,800
100%
4,800
2,035
3 6400
Office Supplies
5,200
100%
5,200
1,890
4 6415
Mail and Postage Service
1,600
100%
1,600
510
5 6420
Printing
9,000
100%
9,000
1,300
6 6710
Meetings (staff)
5,400
LOD%
5,400.
1,040
7 6715
Training Expense
3,400
100%
3,400
800
8 6730
Membership /Subscriptions
11,500
100%
11,SOD1
9,990
9 6840
Vehicle Mileage
200
100%
200
100
10 6845
Vehicle Lease Equipment
6,800
100%
6,8001
0
11 6848
IT Support Services
Sub -Total Admin Cost Allowances:
36,500
$ 92,000
100%
15,208
$
35,873
CITY ADMINI
Object
Code
1136,50D
SUPPORT COSTS BASED ON COST ALLO CATION(ATTACHED) LFp :.
its- Total During FNpl Year T"
"- ry thru June
012 5 Months
1
City Administrative Support Costs
based on Cost Allocation
829,483
100%
345,618
CITY ATTORNEY (contract rtvlas)
Object
Code
Description of Services
Total During Fiscal Year
2011/12
percent to
Admin
TotaIFY -Admin
Costs
Februarythru June
2012 (S Months)
6017
City Attorney's Office - Woodruff,
Spmdlin &Smart (including: Stradling
Yocca Carlson& Rauth; Remy, Thomas,
Moose & Manley, Waters & Company,
Jeanette Justus) and the following
Special Counsel firms: 1) Armbruster
Goldsmith & Delvac LLP; 2)Cappello
and Noel LLP, and 3) Kutak Rock.
$ 960,000
75% $ 720,000
$ 300,000
Sub -TObI City Attorney:
$ 960,000
$ 720,000
$ 300,000
SPECIFIC SERVICES (3rd Revised EOPS and Draft ROPS)
Object
Cade
Description
Total During Fiscal Year
2011/12
Percent to
Admin
Total FY -Admin
Costs
Februarythrulune
2012 IS Months)
1 6315
Lease of Office Space
$ 49,497
100%
$ 49,497
19,100
2 6014. .Auditing
Services
$ 10,000
100%
$ 10,000
10,000
Sub -Total Specific Services:
$ 59,497
$ 59,497
$ 29,100
0TAL ADMINISTRATIVE SERVICE C05T5 r
r
I
Percent to
Admin
Total FY -Admin
Costs
Februarythm June
2012 (5 Months)
TOTAL ADMINISTRATIVE SERVICE COSTS
$ 1,912,437
$ 813,359
BUDGET- REVENUES SURPLUS /EXPEN5E5(DEFI
$
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BUDGET FOR ADMINISTRATIVE
,SUCCESSOR AGENCY TO THE TUSTIN COMMUNITY . e•
UES
lllsamm
Percent to Total FY -Adman
Adffft
Julythru Dec2012
1 Enforceable Obligations Paid with Redevelopment Property
Tax Trust Fund
$ 12,769,835
10,246,015
1,500
LE55) Disallowed Items: 5,9,65
Telephone
508,500
s irra a rope axiniocareoic,
Successory Agency less disallowed
items
4 Administrative Cost Allowance for FY 12/13
4,800
9,737,515
3% $ 383,095
292,125
5,200
100%
5,200
2,600
EMPLOYEE DETAILS
Object Position Fiscal Year - Total Percent to Total FY - Admen July thru Dec 2012
Sub -Total Wages, Benefits and WC: $ -1 $ -1 $ -
ADMINISTRATIVE DIRECT COSTS
Object
Code
Item
Total During Fes
Year 201
P t.AO
era
100%
TOW FV -Admin
3.,000
July thru Dec 2012
1 6147 Bank Service Charges 3,000
1,500
2 6355
Telephone
4,800
100%
4,800
2,400
3 6400
Office Supplies
5,200
100%
5,200
2,600
4 6415
5 6420
Mail and Postage Service
Printing
1,600
9,000
100%
1,600
800
100% 9,000
4,500
6 6710
Meetings (staff)
0
100%
0
0
7 6715
Training Expense
0
100%
0
0
8 6730
Membership /Subscriptions
0
100%
0
0
9 6840
Vehicle Mileage
200
100%
200
100
10 6845
Vehicle Lease Equipment
6,800
100%
6,800
3,400
11 6848
IT Support Services
Sub -Total Admin Cost Allowances:
36,500
$ 67,100
100%
36,500
18,250
$ 67,100
$ 33,550
I,T,pY'AR"Wp _W SUPPORT COSTS BASED ON COST ALLOCA
W*Ick`H4N
-
TotalDwIll
`111111lF1t=wNadn
July thru Dec 2012
1
City Administrative Support Costs
based on Cost Allocation
836,000
8.6%
72,095
$ 66,598
CITY ATTORNEY (contract servk:! -
Object
Code
Dtlealpy,Ory,. - _-
_
JgNlWOFyI�,RIWI
INTRB
�POt MAD
Atlhtgt:
T*W,FY -Admin
CONS
July thru Dec 2012
6017
City Attorney's Office - Woodruff,
Spradlin& Smart (Including; Stradling
Yocca Carlson & Rauch; Remy, Thomas,
Moose & Manley, Waters & Company,
Jeanette Justus). This does not include
legal services from the following firms
that are associated with project costs:
1) Armbruster Goldsmith & Delvac LLP;
2)Cappello and Noel LLP, and 3) Kutak
Rock.
Sub -Total City Attorney:
$ 200,000
$ 200,000
100% $ 200,000
$ 170,027
$ 200,0110
170,027
SPECIFIC SERVICES, EOPS and Draft RO
Objet[
Code
Deeir "' . y
.r`9
;'J1►t1puring Fiscal
Vber2012 /13
PerGIRIlp
Adlllpt
70M71
-, !
July thru Dec 2012
1 6315
Lease of Office Space
$ .5,4! �0
100%
$ 43,900
21,950
Sub -Total Specific Services:
$ 43,900
$ 43,900
$ 21,950
TOTAL AOMIN CE COSTS __.i
'r
--
Percent to
Admin
Total FY -Admin
Costs
July thru Dec 2012
TOTAL ADMINISTRATIVE SERVICE COSTS
$ 383,095
S 292,125
BUDGET- REVENUES (SURPLUS) /E%PENSES(DEFICT)
0 $
Attachment 2
City and Successor Agency
Second Amended Agreement for Reimbursement of Costs
SECOND AMENDED AGREEMENT FOR REIMBURSEMENT OF COSTS
AND CITY /SUCCESSOR AGENCY OPERATIONS LOAN
This SECOND AMENDED AGREEMENT FOR REIMBURSEMENT OF COSTS
AND CITY /SUCCESSOR AGENCY OPERATIONS LOAN ( "Second Amended Agreement ") is
made and entered into as of , 2012 by and among the CITY OF TUSTIN, a
California municipal corporation ( "City "), and the CITY OF TUSTIN ACTING AS SUCCESSOR
AGENCY TO THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY ( "City Successor
Agency ").
RECITALS
A. The Tustin Community Redevelopment Agency ( "Agency ") was established as a
community redevelopment agency that was previously organized and existing under the California
Community Redevelopment Law, Health and Safety Code Sections 33000, et seq. ( "CRL "), and
previously authorized to transact business and exercise the powers of a redevelopment agency
pursuant to action of the City Council ( "City Council ") of the City.
B. The Tustin Housing Authority is a housing authority and public body corporate and
politic organized, existing, and operating pursuant to the California Housing Authorities Law, Health
and Safety Code Section 34200, et seq.
C. Assembly Bill 1 X 26 added Parts 1.8 and 1.85 to Division 24 of the California Health
& Safety Code, which laws caused the dissolution and wind down of all redevelopment agencies
( "Dissolution Act ").
D. On December 29, 2011, California Redevelopment Association, et al. v. Matosantos,
Case No. S194861, the California Supreme Court upheld the Dissolution Act and thereby all
redevelopment agencies in California are subject to the Dissolution Act and were dissolved effective
February 1, 2012.
E. The Agency is now a dissolved community redevelopment agency pursuant to the
Dissolution Act.
F. By a resolution considered and approved by the City Council at an open public
meeting on January 17, 2012, the City chose to become and serve as the "City Successor Agency" to
the dissolved Agency under the Dissolution Act.
G. As of and on and after February 1, 2012, the City serves as the "City Successor
Agency" and will perform its functions as the successor agency under the Dissolution Act to
administer the enforceable obligations of the Agency and otherwise unwind the Agency's affairs, all
subject to review and approval by a seven - member Oversight Board formed thereunder.
H. By a resolution considered and approved by the City Council at an open public
meeting on January 17, 2012, and pursuant to California Health and Safety Code Section 34176 of
the Dissolution Act, the City declined to assume the housing assets and functions of the Agency and
selected the Tustin Housing Authority to assume such housing assets and functions, and on such date,
also pursuant to Section 34176, the Tustin Housing Authority accepted and assumed the housing
assets and functions of the Agency and as of February 1, 2012 became and serves as the "Successor
Housing Agency" of the former Agency pursuant to the Dissolution Act. At this time, assets
Page I
assigned and transferred by operation of law and to be assigned and transferred to the Successor
Agency by authorization of and direction from the Oversight Board and operating pursuant to the
Dissolution Act, are not adequate to fund administrative support costs and expenses unless any future
Low and Moderate Income Housing fund balances are authorized to be transferred under State Law
to the Successor Housing Agency. If this occurs, a future modification to this Agreement may be
necessary.
I. City as the Successor Agency is engaged in activities necessary and appropriate to
wind down the activities of Tustin Community Redevelopment Agency's Redevelopment Plans
( "Redevelopment Plans ") for the MCAS Tustin Project, the Town Center Project and the South
Central Project ( "Project Areas ") that were originally adopted and amended by ordinances of the City
Council.
J. Employees of the City will perform day -to -day administration and operation of the
Successor Agency's duties and functions. Since the Tustin Community Redevelopment Agency was
originally formed and upon Successor Agency's effectiveness as of February 1, 2012, the City has
provided and shall continue to provide services to the Successor Agency, including but not limited to
providing administrative, accounting, auditing, planning, engineering, legal, risk management,
financial, clerical, recordkeeping, and other services necessary for the Successor Agency to carry out
its responsibilities.
K. City and City Successor Agency entered into an Agreement for Reimbursement of
Costs and City /Successor Agency Operations Loan on March 20, 2012 (the "Original Agreement "),
as amended by the First Amended Agreement for Reimbursement of Costs and City /Successor
Agency Operations Loan on April 17, 2012 (the Original Agreement and all amendments shall be
collectively referred to as the "Agreement ") to document an on -going cooperative arrangement
regarding administrative and operational services and payment for services whereby City agrees to
provide administrative and operational services and City Successor Agency agrees to pay City for the
cost of all such services to be provided by City for City Successor Agency pursuant to California
Health and Safety Code Section 34177 0).
L. Pursuant to Health and Safety Code (HSC) Section 34180(e), the Oversight Board, on
May 29, 2012, approved the acceptance of financial assistance for the Phase l and Phase 2 Tustin
Ranch Road Improvements Project conditioned upon the provision of matching funds to the City
from the MCAS Tustin 2010 Tax Allocation Bonds by the Successor Agency. In compliance with
HSC Section 34180(h), the Oversight Board also authorized the Successor Agency to enter into an
amended reimbursement agreement with the City for the Successor Agency's matching contribution
to the Tustin Ranch Road Improvements Project in the amounts of $5,983,863 for Phase 1 and
$8,164,931 for Phase 2 to be disbursed from MCAS Tustin 2010 Tax Allocation Bonds to the City.
M. The Oversight Board on May 29, 2012, authorized the City Successor Agency to enter
into an amended reimbursement agreement with the City to reflect modifications to the
Administrative Cost Allowance and Administrative Budget for Fiscal Year 2011-12 and Fiscal Year
2012 -12, as requested by the California Department of Finance.
NOW, THEREFORE, for and in consideration of the mutual promises, covenants and
conditions herein contained, the parties hereto agree as follows:
1. Modification of Section I of the Original Agreement as it relates to
Reimbursement of Administrative Expenses.
Page 2
(a) Section 1. Reimbursement of Administrative Expenses of the
Original Agreement is hereby deleted and replaced to read as follows:
111. Reimbursement of Expenses.
1.1 Reimbursement of Administrative Expenses. The City Successor Agency
shall be liable to the City for the payment of its Administrative Expenses as set forth in this
Agreement and as adopted as part of an Administrative Budget by the City Successor
Agency, as such Administrative Budget may be augmented, modified, amended, revised or
reconciled from time to time. These Administrative Expenses shall be in addition to any
direct program or project expenses ( "Program Expenses ") incurred and noted on the
Enforceable Obligations Payment Schedule ( "EOPS ") and on Recognized Obligation
Payment Schedules ( "ROPS "), including salary and benefits of employees funded by the
Successor Agency for direct Program Expenses. The City Successor Agency shall also be
liable to the City for payment of these direct Program Expenses where they are adopted as
part of the BOPS.
1.2 Reimbursement of Phase I and Phase 2 Tustin Ranch Road Improvements
Project Expenses. The City Successor Agency shall be liable to the City for a matching
contribution and payment to be made to the Phase I and Phase 2 Tustin Ranch Road
Improvements Project to be disbursed from WAS Tustin 2010 Tax Allocation Bond
proceeds to the City upon the effective date of this Agreement. The required match from the
WAS Tustin 2010 Tax Allocation Bond proceeds for the Phase I Tustin Ranch Road
Project is $5,983,863 and for the Phase 2 Tustin Ranch Road Project is $8,164,93, fora total
match of $14,148,794 for Tustin Ranch Road Project expenses."
2. Modification of Section 2 of the Original Agreement as it relates to the Cost of
Administrative Expenses and Administrative Cost Allowances for Fiscal Years 2011 -12 and
2012 -13.
(a) Section 2.1 of the Original Agreement is hereby deleted and replaced
to read as follows:
"Section 2.1 City Successor Agency and City estimate that the cost of administrative and
operational services to be provided by City to the City Successor Agency for the period of
February 1, 2012 through June 30, 2012 is Eight Hundred Thirteen Thousand Three Hundred Fifty -
Nine Dollars ($813,359). Pursuant to the provisions of Section 4 herein, City Successor Agency
agrees to pay the sum of $813,359 to City to pay for the estimated administrative expenses of the
City Successor Agency for the period of fiscal year 2011 -12, subject to Oversight Board approval
and City Successor Agency preparation and approval of an administrative budget estimate for such
services and costs. The City Successor Agency shall also be liable to the City for payment of any and
all direct Project and Program Expenses incurred by City where they are adopted as part of the
ROPS."
(b) Section 2.3 of the Original Agreement is hereby deleted and replaced
as follows:
"Section 2.3 City Successor Agency and City estimate that the cost of administrative and
operational services to be provided by City to the City Successor Agency for the period of
July 1, 2012 through June 30, 2013 is Three Hundred Eighty -Three Thousand and Ninety -Five
Page 3
Dollars ($383,095). Pursuant to the provisions of Section 4 herein, City Successor Agency agrees to
pay the sum of $383,095 to City to pay for the estimated administrative expenses of the City
Successor Agency for the period of fiscal year 2012 -13, subject to Oversight Board approval and
City Successor Agency preparation and approval of an administrative budget estimate for such
services and costs for the two upcoming six -month fiscal periods: 1) July I, 2012 through
December 31, 2012; and 2) January I, 2013 through June 30, 2013. The City Successor Agency
shall also be liable to the City for payment of any and all direct Project and Program Expenses
incurred by City where they are adopted as part of the ROPS."
3. Miscellaneous.
(a) Second Amended Agreement Ratified. Except as specifically amended or modified
herein, each and every term, covenant and condition of the Original Agreement as amended is hereby
ratified and shall remain in full force and effect.
(b) Binding. This Second Amended Agreement and the Original Agreement shall be
binding upon and inure to the benefit of the parties hereto.
IN WITNESS WHEREOF, the parties have caused this Second Amended Agreement to be
executed by their officers thereunto duly authorized on the date first above written.
"CITY"
CITY OF TUSTIN, a California municipal corporation
C
ATTEST:
Pamela Stoker, City Clerk
APPROVED AS TO FORM
David Kendig, City Attorney
John Nielsen, Mayor
<Additional Signatures Follow on Next Page>
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"CITY SUCCESSOR AGENCY"
SUCCESSOR AGENCY TO THE TUSTIN
COMMUNITY REDEVELOPMENT AGENCY
C
ATTEST:
Pamela Stoker, City Clerk
on behalf of the Successor Agency
APPROVED AS TO FORM
David Kendig, Legal Counsel
John Nielsen
Successor Agency Chairman
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