HomeMy WebLinkAbout02 ADOPTION OF THIRD AMENDED IROP SCHEDULE FOR JANUARY-JUNE 2012Agenda Item 2
♦ ♦ REPORT
Oversight Board i t, the SuccessorAgency to
Tustin Community Redevelopment Agencyl
SUBJECT/ACTION: ADOPTION OAMENDED •
OBLIGATION PAYMENT SCHEDULEFOR THE PERIOD OF
THROUGHJANUARY 2012 AND • • AMENDED
SECOND RECOGNIZED OBLIGATION PAYMENT SCHEDULE
FOR THE PE
It is recommended that the Oversight Board of the Successor Agency to the Tustin
Community Redevelopment Agency:
1. Adopt Oversight Board Resolution No. 12-04 approving the Third Amended Initial
Recognized Obligation Payment Schedule ("Third Amended Initial ROPS") for the
period of January through June 2012, subject to the following:
a. All modifications to the initial Recognized Obligation Payment Schedule
("ROPS") requested by the Department of Finance ("DoF") were made under
protest with the Oversight Board and Successor Agency reserving all rights to
seek payment for any obligations removed from the ROPE under protest.
b. Review and certification by the County Auditor -Controller selected independent
auditor.
c. Should any subsequent modifications be required to the Third Amended RODS
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. Adopt Oversight Board Resolution No. 12-05 approving the Second Amended
Second Recognized Obligation Payment Schedule ("Second Amended Second
ROPE") for the period of July through December 2012, subject to the following:
a. All modifications to the initial ROPS requested by the Department of Finance
("DoF") were made under protest with the Oversight Board and Successor
Agency reserving all rights to seek payment for any obligations removed from the
ROPE under protest.
b. Review and certification by the County Auditor -Controller selected independent
auditor.
Agenda Report
July 10, 2012
Page 2
c. Should any subsequent modifications be required to the Third 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.
BACKGROUND
On May 29, 2012, the Oversight Board, in accordance with Health and Safety Code
Section 34180(e), authorized 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. On June 19, 2012, the
Successor Agency approved and authorized the Second Amended Agreement for
Reimbursement of Costs with the City for 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 Second Amended
Reimbursement Agreement utilizing the required matching funds has been added to the
Third Amended Initial ROPS and Second Amended Second ROPS.
In addition, the Successor Agency has amended each ROPS to include project -specific
legal costs on "Form B - All Revenue Sources Other Than Redevelopment Property Tax
Trust Fund". Previously, DoF removed legal costs from "Form A - Redevelopment
Property Tax Trust Fund (RPTTF)" with the determination that the legal costs listed
were administrative and not project -specific. After reviewing submittals from Successor
Agencies who included project -specific legal costs in their DoF approved ROPS, staff
has revised the ROPS to list the project -specific legal costs associated with each
enforceable obligation DoF has already approved.
Staff will be available to respond to any questions from the Oversight Board.
Christine Shingleon
Assistant Executive Director
ouol�sl,,T Stack, P.E.
ublicil
'Oorks Director/City Engineer
[Attachments listed on following page]
Pamela Arends-King
Finance Director
Agenda Report
July 10, 2012
Page 3
Attachment 1: Oversight Board Resolution No. 12-04
Attachment 2: Oversight Board Resolution No. 12-05
Attachment 3: May 29, 2012 Oversight Board Agenda Report — Tustin Ranch
Roadway Improvements Required Match Funds from MCAS Tustin
2010 Tax Allocation Bond Proceeds
Attachment 4: June 19, 2012 Successor Agency Agenda Report — 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
OVERSIGHT BOARD RESOLUTION NO. 12-04
A RESOLUTION OF THE OVERSIGHT BOARD OF THE
SUCCESSOR AGENCY TO THE TUSTIN COMMUNITY
REDEVELOPMENT AGENCY ADOPTING A THIRD
AMENDED INITIAL RECOGNIZED OBLIGATION
PAYMENT SCHEDULE AND MAKING CERTAIN
FINDINGS IN CONNECTION THEREWITH
The Oversight Board of the Successor Agency to the Tustin Community
Redevelopment Agency finds, determines and declares as follows:
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 of Tustin ("City"); and
B. AB X1 26 ("AB26") added Parts 1.8 and 1.85 to Division 24 of the California Health
and Safety Code, which laws cause the dissolution and wind down of all
redevelopment agencies ("Dissolution Act"), and
C. On December 29, 2011, in the petition California Redevelopment Association 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 as of and on February 1, 2012; and
D. The Agency is now a dissolved community redevelopment agency pursuant to the
Dissolution Act; and
E. 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 "successor
agency" to the dissolved Agency under the Dissolution Act; and
F. As of and on and after February 1, 2012, the City serves as the "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 the review and approval by the seven -member
Oversight Board formed thereunder; and
G. Section 34179 of the Dissolution Act requires all actions taken by the Oversight
Board to be adopted by resolution; and
H. Pursuant to Section 34179, the Successor Agency's Oversight Board has been
formed and the initial meeting has occurred on March 13, 2012; and
Oversight Board Resolution 12-04
Page 1 of 4
In accordance with Section 34180(g) of the CRL, which was added to the CRL by
AB26 and is set forth in Part 1.85 of the CRL, the Oversight Board approved the
Initial Recognized Obligation Payment Schedule ("Initial ROPS") for the period of
January through June 2012 on Marcy 13, 2012. The Oversight Board on April 10,
2012, approved the First Amended Initial Recognized Obligation Payment Schedule
("First Amended Initial ROPS") and, on May 29, 2012, approved the Second
Amended Initial Recognized Obligation Payment Schedule ("Second Amended Initial
ROPS"); and
J. Pursuant to Health and Safety Code (HSC) Section 34180(e), the Oversight Board,
on May 29, 2012, approved the acceptance of financial assistance from private and
public sources for the Phase 1 and Phase 2 Tustin Ranch Road Improvements
Project which financial assistance was 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; and
K. On June 19, 2012, the Successor Agency approved and authorized the Successor
Agency to enter into an Agreement for Reimbursement of Costs with the City for 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 Reimbursement Agreement utilizing the required
matching funds has been added to the Third Amended Initial ROPS; and
L. The Oversight Board has duly considered all other related matters and has
determined that the Board's adoption of the Third Amended Initial ROPS and
submission to the California Department of Finance is in the best interests of the
City, the Successor Agency, the holders of enforceable obligations, and the taxing
agencies that benefit from distributions of property tax and other revenue, and is in
the best interests of the health, safety, and welfare of residents, and in accord with
the public purposes and provisions of applicable state and local laws and
requirements.
NOW, THEREFORE, BE IT RESOLVED BY A RESOLUTION OF THE
OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TUSTIN
COMMUNITY REDEVELOPMENT AGENCY:
Section 1. The foregoing recitals are incorporated into this Resolution by this
reference, and constitute a material part of this Resolution.
Section 2. The Oversight Board approves the Third Amended Initial ROPS attached
hereto as Attachment No. 1 and incorporated herein, and further authorizes the
Oversight Board Resolution 12-04
Page 2 of 4
Successor Agency to transmit this Resolution to the County Auditor -Controller, the State
Department of Finance ("DoF"), and the State Controller's Office.
Section 3. The City Manager, on behalf of the Successor Agency, or his authorized
designee is directed to post this Resolution on the City/Successor Agency website.
Section 4. This Resolution shall be effective after transmittal of this Resolution to the
DoF and the expiration of five (5) business days pending a request for review by the
DoF within the time periods set forth in HSC 34179(h), as amended by Assembly Bill
No. 1484, approved by the Governor on June 27, 2012. In this regard, if the DoF
requests review hereof, it will have 40 days from the date of its request to approve this
Oversight Board action or return it to the Oversight Board for reconsideration and the
action, if subject to review by DoF, will not be effective until approved by DoF.
Section 5. The Secretary of the Oversight Board shall certify to the adoption of this
Resolution.
APPROVED AND ADOPTED this 10th day of July, 2012.
Doug Davert, Chairman
Oversight Board of the Successor Agency to
the Tustin Community Redevelopment Agency
ATTEST:
Jerry Amante, Secretary
Oversight Board of the Successor Agency to
the Tustin Community Redevelopment Agency
Oversight Board Resolution 12-04
Page 3 of 4
STATE OF CALIFORNIA )
COUNTY OF ORANGE )SS
CITY OF TUSTIN }
1, JERRY AMANTE, Secretary of the Oversight Board of the Successor Agency
to the Tustin Community Redevelopment Agency, do hereby certify that the whole,
number of the members of the Agency Board is seven; that the above and foregoing
Resolution No. 12-04 was duly passed and adopted at a regular meeting of the
Oversight Board, held on the 10th day of July, 2012, by the following vote:
Jerry Amante, Secretary
Oversight Board of the Successor Agency to
the Tustin Community Redevelopment Agency
Attachment No. 1 — 3rd Amended Initial Recognized Obligation Payment Schedule
Oversight Board Resolution 12-04
Page 4 of 4
January 1, 2012 through Juno 30, 2012
THIRD AMENDED RECOGNIZED OBLIGATION PAYMENT SCHEDULE - CONSOLIDATED
FILED FOR THE JANUARY to JUNE 2012 PERIOD
Name of Successor Agency Successor Agency to the Tustin Community Redevelopment Agency
Certification of Oversight Board Chairman:
Pursuant to Section 34177(1) of the Health and Safety code,
I hereby certify that the above is a true and accurate Recognized
Enforceable Payment Schedule for the above named agency.
Name
Signature
Title
Date
Current
Total Outstanding
Debt or Obligation
Total Due
During Fiscal Year
Outstanding Debt or Obligation
$ 338,982,652.00
$ 25,582,585.00
Outstanding Debt or Obligation
Total Due for Six Month Period
$ 26,296,819.00
Available Revenues other than anticipated funding from RPTTF
Enforceable Obligations paid with RPTTF
Administrative Cost paid with RPTTF
Pass-through Payments paid with RPTTF
$ 6,766,178.00
$ 16,267,186.00
$ 813,359.00
$ 2,450,096.00
Administrative Allowance (greater of 5% of anticipated Funding from RPTTF or 250,000. Note: Calculation should not
include pass-through payments made with RPTTF. The RPTTF Administrative Cost figure above should not exceed this
Administrative Cost Allowance figure)
$ 813,359.30
Certification of Oversight Board Chairman:
Pursuant to Section 34177(1) of the Health and Safety code,
I hereby certify that the above is a true and accurate Recognized
Enforceable Payment Schedule for the above named agency.
Name
Signature
Title
Date
Name of Redevelopment Agency: Successor Agency to the Tustin Community Redevelopment Agency FORM A - Redevelopment Property Tax Trust Fund (RPTTF)
Project Area(s) RDA Project Area All
THIRD AMENDED RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26 - Section 34177 (*)
Payable from the Redevelopment Property Tax Trust Fund (RPTTF)
Due During
***
Pa ents b month
Contract/AgreementTotal
Total Outstanding
Fiscal Year
Funding
Jan 2012
Feb 2012
Mar 2012
Apr 2012
May 2012
Jun 2012
Total
Project Name / Debt Obligation
Execution Date
Payee
Description
Pro ect Area
Debt or Obligation
2011-2012**
Source
1)
Housing Tax Allocation Bonds, Series 2010
03/01/2010
Bondholders via The Bank of New York Mellon
Proceeds from the sale of the Bonds will be used to (a)
All
42,480,491
3,097,209
RPTTF
565,970
1,270,453
$ 1,836,423
prepay a portion of the City Obligation (Affordable Housing
Reimbursement Agreement), (b) fund a reserve account for
the Bonds, and (c) provide for the cost of issuing the Bonds.
Total outstanding debt includes principal and interest.
2)
Fiscal Agent Fees - TA Bond 2010
01/19/2010
The Bank of New York Mellon
administration of bond activities [paid in the first 6 months of
All
3,300
3,300
RPTTF
$ -
FY 2011-2012]
3)
Continuing disclosure services & arbitrage services
10/30/2010 & 8/12/1993
Applied Best Practices; Willdan & Associates
Continuing disclosure services for 2010 Housing bonds and
All
4,350
1,350
RPTTF
1,350
$ 1,350
arbitrage services.
4)
County Administrative Fee
County of Orange
annual tax collection adm in istrative fee
All
213,000
213,000
RPTTF
213,000
$ 213,000
5)
Graffiti removal
10/01/2008
Graffiti Control Systems
Graffiti removal in the Town Center and South Central
All
55,000
55,000
RPTTF
6,500
6,500
6,500
6,500
6,500
6,400
$ 38,900
Redevelopment Project Areas. Contract is paid for through
CDBG, General and RDA funds.
6)
Contract for available commercial property search
09/29/2010
LoopNet, Inc.
Web -based Commercial Property Search for available retail,
All
3,500
3,500
RPTTF
3,500
$ 3,500
commercial, industrial and other property types in Tustin
7)
Contract for web -based business assistance information
03/18/2011
Tools for Business Success, LLC
Web -based business assistance tools available on the City of
All
1,140
1,140
RPTTF
1,140
$ 1,140
Tustin website
8)
Direct Project Related Costs (including Salary and Benefits funded by the
Successor Agency
Payroll for employees for direct project operation. Total
All
519,330
519,330
RPTTF
43,280
43,280
43,280
43,280
43,280
43,280
$ 259,680
Successor Agency)
outstanding debt is an annual figure and this amount will
Fluctuate annually. The employees are performing project
related activities involving the enforceable obligations listed
on Rows #10417, Rows #21433, Rows #38-#48, and Rows
#52-#64.
9)
PERS liability (annually adjustable)
City of Tustin
Employees funded by the Successor Agency that perform
All
140,518
140,518
RPTTF
$ -
SuccessorAgencyactivities. The liability is reviewed
annually and may increase or decrease based on a variety of
economic and actuarial assumptions.
10)
Payment in Lieu of Taxes Agreement - Flanders Pointe
10/01/1999
City of Tustin
Agency monitors to insure receipt of annual payment. To the
All
Annual
See Row#8
RPTTF
$ -
extent RPTTF funds are not available to fund this
enforceable obligation, the obligation shall be considered an
encumbrance of LMIHF funds.
11)
Payment in Lieu of Taxes Agreement - Orange Gardens
08/13/1998
City of Tustin
Agency monitors to insure receipt of annual payment. To the
All
Annual
See Row#8
RPTTF
$ -
extent RPTTF funds are not available to fund this
enforceable obligation, the obligation shall be considered an
encumbrance of LMIHF funds.
12)
Olson DDA/Arbor Walk
03/01/2004
Redevelopment Agency
Monitoring to ensure the project complies with the DDA. To
All
Annual
See Row#8
RPTTF
$
the extent RPTTF funds are not available to fund this
enforceable obligation, the obligation shall be considered an
encumbrance of LMIHF funds.
13)
Arbor Walk Promissory Notes
varies
Redevelopment Agency
Agency monitors to ensure the 10 affordable homeownership
All
Annual
See Row#8
RPTTF
$ -
units are in compliance with the Promissory Notes and
recorded Affordable Housing Covenants. In addition, the
Agency prepares and executes affordable housing
documents when affordable homeowners refinance or sell
their homes. To the extent RPTTF funds are not available to
fund this enforceable obligation, the obligation shall be
considered an encumbrance of LMIHF funds.
14)
Heritage Place DDA
04/11/2002
Redevelopment Agency
Agency monitors to ensure 53 units are in compliance with
All
Annual
See Row#8
RPTTF
$ -
affordability requirements. To the extent RPTTF funds are
not available to fund this enforceable obligation, the
obligation shall be considered an encumbrance of LMIHF
funds.
15)
Heritage Place Loan Agreement
04/12/2007
Redevelopment Agency
Financial assistance was provided by the Agency to the
All
Annual
See Row#8
$ -
Developer for construction of a multi -family project and the
Agency monitors the terms of the loan agreement (expires 4-
15-2033), including the residual receipt payment. To the
extent RPTTF funds are not available to fund this
enforceable obligation, the obligation shall be considered an
encumbrance of LMIHF funds.
16)Single
and Multi-Fam ily Rehabilitation Loans
vary
Redevelopment Agency
Agency monitors 6 Single Fam ily and Multi-Fam ily Loans
All
Annual
See Row#8
RPTTF
$ -
between the Agency and Property Owners of rehabilitated
properties. To the extent RPTTF funds are not available to
fund this enforceable obligation, the obligation shall be
considered an encumbrance of LMIHF funds.
17)
Town Center Housing Deficit Reduction Plan
05/01/2000
Agency's Town Center Housing Set -Aside fund
Repayment for Town Center Housing Set -Aside funds
Town Center
2,776,042
900,000
RPTTF
900,000
$ 900,000
diverted to support non -housing Redevelopment activities in
Town Center during the period of 1986 - 1992.
18)
Tax Allocation Refunding Bonds 1998 (Town Center)
07/01/1998
Bondholders via US Bank
Bond issue to fund non -housing projects. Total outstanding
Town Center
9,822,216
3,133,296
RPTTF
1,670,660
$ 1,670,660
debt includes principal and interest.
19)
Fiscal Agent Fees - TA Bond 1998
01/19/2010
US Bank
administration of bond activities
Town Center
3,300
3,300
RPTTF
$ -
Payable from the Redevelopment Property Tax Trust Fund (RPTTF)
Due During
***
Pa ents b month
Contract/AgreementTotal
Total Outstanding
Fiscal Year
Funding
Jan 2012
Feb 2012
Mar 2012
Apr 2012
May 2012
Jun 2012
Total
Project Name / Debt Obligation
Execution Date
Payee
Description
Pro ect Area
Debt or Obligation
2011-2012**
Source
20)
Continuing disclosure & arbitrage services
10/30/2010 & 8/12/1993
Applied Best Practices; Willdan & Associates
Continuing disclosure & arbitrage services for 1998 bonds
Town Center
6,000
6,000
RPTTF
$ -
21)
Contract for engineering services
06/09/2011
Critical Structures, Inc.
Structural engineering assessment of Stevens Square
Town Center
23,530
23,530
RPTTF
5,850
5,870
$ 11,720
Parking Structure
22)
Stevens Square Parking Garage Declaration of Covenants, Conditions,
06/17/1988
Stevens Square Parking Structure Condominium
There are ongoing maintenance costs as required by the
Town Center
50,000
50,000
RPTTF
1,400
1,400
1,400
1,400
1,400
$ 7,000
Restrictions and Reservations
Association
CC&Rs. In addition, there are one-time, deferred
maintenance repairs that will be determined by the structural
engineering assessment. The costs associated with ongoing
maintenance and deferred maintenance repairs are
estimates.
23)
Ambrose Lane/First Time Homebuyer
05/17/2000
Redevelopment Agency
Agency monitors to ensure the 5 affordable homeownership
Town Center
Annual
See Row#8
RPTTF
$ -
units are in compliance with the Promissory Notes and
recorded Affordable Housing Covenants. In addition, the
Agency prepares and executes affordable housing
documents when affordable homeowners refinance or sell
their homes. Monitoring of Affordable Housing Covenants. To
the extent RPTTF funds are not available to fund this
enforceable obligation, the obligation shall be considered an
encumbrance of LMIHF funds.
24)
First Time Homebuyer Promissory Note
05/17/2000
Redevelopment Agency
Agency monitors to ensure the first time homebuyer unit is in
Town Center
Annual
See Row#8
RPTTF
$ -
compliance with the Promissory Note and an Affordable
Housing Covenant. In addition, the Agency prepares and
executes affordable housing documents when the affordable
homeowner refinances or sells their home. To the extent
RPTTF funds are not available to fund this enforceable
obligation, the obligation shall be considered an
encumbrance of LMIHF funds.
25)
Makena DDA
10/19/2004
Redevelopment Agency
Monitoring to insure developer is in compliance with
Town Center
Annual
See Row#8
RPTTF
$ -
contractual obligations.
26)
Old Town Plaza Retail Rehab DDA
05/10/2001
Redevelopment Agency
Monitoring to insure developer is in compliance with
Town Center
Annual
See Row#8
RPTTF
$ -
contractual obligations.
27)
Plaza Lafayette DDA
07/02/1985
Redevelopment Agency
Monitoring to insure developer is in compliance with
Town Center
Annual
See Row#8
RPTTF
$ -
contractual obligations.
28)
Ford Commercial Rehab DDA
09/15/1998
Redevelopment Agency
Monitoring to insure developer is in compliance with
Town Center
Annual
See Row#8
RPTTF
$ -
contractual obligations.
29)
Micro Center DDA
11/21/1994
Redevelopment Agency
Monitoring to insure developer is in compliance with
Town Center
Annual
See Row#8
RPTTF
$ -
contractual obligations.
30)
Thompson Building OPA
06/06/1994
Redevelopment Agency
Monitoring to insure developer is in compliance with
Town Center
Annual
See Row#8
RPTTF
$ -
contractual obligations.
31)
Stevens Square Parking Structure - License Agreements
vary
Redevelopment Agency
Monitoring to insure 8licenses are in compliance with
Town Center
Annual
See Row#8
RPTTF
$ -
contractual obligations.
32)
Potted Plants Agreements
vary
Redevelopment Agency
Monitoring to insure 17 agreements are in compliancewith
Town Center
Annual
See Row#8
RPTTF
$ -
contractual obligations.
33)
Prospect Village DDA
06/21/2004
Redevelopment Agency
Monitoring to insure developer is in compliance with
Town Center
Annual
See Row#8
RPTTF
$ -
contractual obligations.
34)
Public Works Agreement/South Central Redevelopment Project
06/07/1993
City of Tustin
Original Loan amount to the Agency in 1993 was initially
South Central
34,235,102
8,558,775
RPTTF
5,135,265
3,423,510
$ 8,558,775
estimated to be $33,500,000 for the Newport Avenue
Extension (Newport Underpass) to Edinger Avenue. The
interest rate is .5% above the City's average yield on
investments. Repayment of the loan is based on City-funded
Phase 1 work (Capital Improvement Program - CIP 70130)
that has been completed on the Newport Avenue
Extension/SR-55 North Bound Ramp Reconfiguration
Project. The Phase 1 project began in 1993 and was
completed in March 2010. Phase 1 (CIP 70130) contracts
are not listed on previous EOPS or ROPS. There is no
duplication of obligations. Phase 2 work (CIP 70131)
consists of contracts listed below in Rows #47454 and these
contracts have not been double counted in Phase 1.
Pursuant to Section 1 Public Improvement Work of the
Public Works Agreement, the Successor Agency shall pay
the City when projects are completed and in semi-annual
installments (per Section 2 Payment by the Agency of the
Agreement). The first installment (January 2012) shall be for
the one payment due during FY 2009-2010 and the two
payments due for FY 2010-2011. The second installment
(June 2012) shall be for the two payments due for FY 2011-
2012. The two installments will reflect initial reimbursement
payments until confirmation of the Oversight Board of the
actual increased costs of the pro ect.
35)
Memorandum of Understanding with Orange County Water District
03/20/1985
Orange County Water District
Tax share agreement (pre-AB 1290) with the Agency.
South Central
28,000
2,000
RPTTF
$ -
36)
Memorandum of Understanding with Tustin Unified School District
09/13/1985
Tustin Unified School District
Tax share agreement pre-1290 with Agency. The agreement
South Central
0
0
RPTTF
$ -
(Section 33401 Payment; 9/13/1985)
provides that certain tax sharing payments would occur after
the Agency has expended $10 million dollars for construction
of facilities within the South Central Amendment Area and or
retired bonds or other indebtedness for such construction as
provided in the Agreement. The Agency has not retired the
indebtedness associated with the 1993 Public Works
Agreement and, as a result, there have been no payments
made to date.
Payable from the Redevelopment Property Tax Trust Fund (RPTTF)
Due During
***
Pa ents b month
Contract/AgreementTotal
Total Outstanding
Fiscal Year
Funding
Jan 2012
Feb 2012
Mar 2012
Apr 2012
May 2012
Jun 2012
Total
Project Name / Debt Obligation
Execution Date
Payee
Description
Pro ect Area
Debt or Obli anon
2011-2012**
Source
37)
Memorandum of Understanding with Saddleback Community College
09/13/1985
Saddleback Community College District
Tax share agreement pre -1290 with Agency. The agreement
South Central
0
0
RPTTF
$ -
District (Section 33401 Payment; 9/13/1985)
provides that certain tax sharing payments would occur after
the Agency has expended $10 million dollars for construction
of facilities within the South Central Amendment Area and or
retired bonds or other indebtedness for such construction as
provided in the Agreement. The Agency has not retired the
indebtedness associated with the 1993 Public Works
Agreement and, as a result, there have been no payments
made to date.
38)
Newport Av./SR55 NB Ramp Reconfiguration
11/25/2008
Psomas Engineering
Mapping and survey services
South Central
15,000
1,223
RPTTF
$ -
39)
Newport Av./SR55 NB Ramp Reconfiguration
01/26/2010
Anderson Penna
Program management services
South Central
4,000
2,125
RPTTF
$ -
40)
Newport Av. Extension, N/O Edinger Av.
02/02/2010
Dokken Engineering
Final design services
South Central
100,000
92,500
RPTTF
15,000
15,000
15,000
15,000
15,000
17,500
$ 92,500
41)
Newport Av. Extension, N/O Edinger Av.
10/08/2010
Nuvis
Landscape design services
South Central
30,050
10,760
RPTTF
$ -
42)
Newport Av. Extension, N/O Edinger Av.
County of Orange (OCFCD)
Plan check services
South Central
25,000
25,000
RPTTF
18,060
6,940
$ 25,000
43)
Newport Av. Extension, N/O Edinger Av.
12/16/2007
Morrow Management
Dry Utility design and coordination services
South Central
2,500
1,323
RPTTF
$ -
44)
Newport Av. Extension, N/O Edinger Av.
01/26/2010
Anderson Penna
Program management services
South Central
10,000
4,938
RPTTF
I
$ -
45)
Newport Av. Extension, N/O Edinger Av.
Southern California Regional Rail Authority (SCRRA)
Plan check services
South Central
25,000
25,000
RPTTF
$ 15,000
10,000
$ 25,000
46)
CBS Outdoor Billboard
12/19/1994
Redevelopment Agency
Monitoring to insure licensee is in compliance with
South Central
Annual
See Row#8
RPTTF
$ -
contractual obligations.
47)
Tustin Grove Promissory Notes and Affordable Housing Covenants
vary
Redevelopment Agency
Agency monitors to ensure the 16 affordable homeownership
South Central
Annual
See Row#8
RPTTF
$ -
units are in compliance with the Promissory Notes and
recorded Affordable Housing Covenants. In addition, the
Agency prepares and executes affordable housing
documents when affordable homeowners refinance or sell
their homes. To the extent RPTTF funds are not available to
fund this enforceable obligation, the obligation shall be
considered an encumbrance of LMIHF funds.
48)
Tustin Grove Affordable Housing DDA
12/27/1995
Redevelopment Agency
Monitoring to ensure the project complies with the DDA. To
South Central
Annual
See Row#8
RPTTF
$
the extent RPTTF funds are not available to fund this
enforceable obligation, the obligation shall be considered an
encumbrance of LMIHF funds.
49)
Tax Allocation Bonds - MCAS Tustin, Series 2010
11/01/2010
Bondholders via The Ban of New York Mellon
Bond issue to fund non -housing projects. Total outstanding
MCAS Tustin
83,384,751
2,282,532
RPTTF
626,464
1,814,488
$ 2,440,952
debt includes principal and interest.
50)
Fiscal Agent Fees - TA Bond 2010
09/07/2010
The Bank of New York Mellon
administration of bond activities
MCAS Tustin
3,300
3,300
RPTTF
3,300
$ 3,300
51)
Continuing disclosure services & arbitrage services
10/30/2010 & 8/12/1993
Applied Best Practices; Willdan & Associates
Continuing disclosure services for 2010 MCAS bonds &
MCAS Tustin
4,350
1,350
RPTTF
1,350
$ 1,350
arbitrage services
52)
Lease in Furtherance of Conveyance (LIFOC) executed May 13, 2002
05/13/2002
Redevelopment Agency
Property Management, Maintenance, Environmental
MCAS Tustin
Varies
0
RPTTF
$ -
between the United States of America and the City of Tustin for Portions of
Remediation, and Real Estate obligations of City required by
the Former Marine Corps Air Station Tustin
Navy on Lease sites until conveyance of properties. This
includes asset management and disposal, property
management and remediation. Direct project related staffing
costs only associated with asset management and disposal
under the LIFOC are listed in Row #9. Contractual response
costs for all other responsibilities under the LIFOC
Agreement will be as they are incurred and/or as requested
by the Department of Navy.
53)
Lease in Furtherance of Conveyance (LIFOC) executed June 16, 2004
06/16/2004
Redevelopment Agency
Property Management, Maintenance, Environmental
MCAS Tustin
Varies
0
RPTTF
$ -
between the United States of America and the City of Tustin for Parcel 22
Remediation, and Real Estate obligations of City required by
of the Former Marine Corps Air Station Tustin
Navy on Lease sites until conveyance of properties. This
includes asset management and disposal, property
management and remediation. Direct project related staffing
costs only associated with asset management and disposal
under the LIFOC are listed in Row #9. Contractual response
costs for all other responsibilities under the LIFOC
Agreement will be as they are incurred and/or as requested
by the Department of Navy.
54)
Economic Development Conveyance (EDC) Application for Marine Corps
05/13/2002
Redevelopment Agency
Obligations of City required by Navy in the conveyance of
MCAS Tustin
Varies
0
RPTTF
$ -
Air Station (MCAS) Tustin as Amended
the property under the Reuse Plan adopted in 2002. This
includes asset management and disposal, property
management and remediation. Direct project related staffing
costs associated with asset management and disposal under
the EDC are listed in Row #9. Contractual response costs
for all other responsibilities under the EDC Agreement will be
as they are incurred and/or as requested by the Department
of Navy.
55)
Contract for Development Advisor services
09/07/2010
Developer's Research
Implementation Plan and Strategy
MCAS Tustin
75,000
64,000
RPTTF
$ -
56)
Contract for Engineering & Planning
08/08/2010
RBF Consulting
Plan check and tract map services
MCAS Tustin
90,000
35,942
RPTTF
4,675
4,000
4,000
4,000
4,000
4,000
$ 24,675
57)
Contract for Planning Services
09/07/2010
SMS Architects
Implementation Plan and Strategy
MCAS Tustin
60,000
15,000
RPTTF
5,000
5,000
$ 10,000
58)
Contract for Engineering Services
09/07/2010
Hunsaker & Associates
Disposition Strategy & mapping services
MCAS Tustin
216,500
74,660
RPTTF
14,316
$ 14,316
59)
Contract for Financial Analysis
01/04/2011
David Taussig & Associates
financial advisory services associated with determining
MCAS Tustin
47,500
34,750
RPTTF
5,791
5,791
5,791
5,791
5,791
5,795
$ 34,750
distribution of assessments associated with background
infrastructure costs
60)
Newport/SR-55 Gateway Master plan & landscape Improvements
09/09/2010
RBF Consulting
Preparation of Gateway Master plan and design of landscape
MCAS Tustin
125,979
74,290
RPTTF
8,000
9,000
13,000
12,000
8,000
5,491
$ 55,491
improvements
61)
Website Hosting Agreement
12/08/2010
Commpro, LLC
Website hosting for the MCAS Tustin website
MCAS Tustin
1,800
1,800
RPTTF
150
150
150
150
150
150
$ 900
62)
Contract for fence repair
06/18/2008
National Construction Rental, Inc
Fence repairs as needed at MCAS Tustin
MCAS Tustin
1 10,0001
1,7901
RPTTF
1 2001
2001
2001
2001
2001
200
$ 1,200
63)
Contract for Maintenance of undeveloped properties
11/20/2006
Spectrum Landscaping
Maintenance of undeveloped land
MCAS Tustin
1 71,208
1 71,208
1 RPTTF
1 5,934
1 5,934
1 5,934
1 5,934
1 5,934
1 5,934
1 $ 35,604
This Page (RPTTF Funding)
Page 2 (Other Funding)
Page 3 (Administrative Cost Allowance)
Page 4 (Pass Thru Payments)
1 $ 2.230.537 1 $ 2.784.391 1 N/A 1 $ 2.230.537 1 $ 2.784.391 1 $ 957.199 1 $ 242.8801 $ 260.380 1 $ 290.791 1 $ 6.766.178 1
Grand total - All Pages II $ 338,982,652 II $ 25,582,58511 II $ 7,475,498 II $ 4,245,910 I
* The Preliminary Draft Recognized Obligation Payment Schedule (ROPS) is to be completed by 3/1/2012 by the successor agency, and subsequently be approved by the oversight board before the final ROPS is submitted to the State Controller and State Department of Finance by April 15, 2012. It is not a
submitting the final Oversight Approved ROPS to the State Controller and State Department of Finance.
** All totals due during fiscal year and payment amounts are projected.
*** Funding sources from the successor agency: (For fiscal 2011-12 only, references to RPTTF could also mean tax increment allocated to the Agency prior to February 1, 2012.)
RPTTF - Redevelopment Property Tax Trust Fund Bonds - Bond proceeds Other - reserves, rents, interest earnings, etc
Project Name / Debt Obligation
Contract/AgreementTotal
Execution Date
Payee
Description
Pro ect Area
Total Outstanding
Debt or Obli anon
Due During
Fiscal Year
2011-2012**
***
Funding
Source
Payable from the Redevelopment Property Tax Trust Fund (RPTTF)
Pa ents b month
Jan 2012 Feb 2012 Mar 2012 Apr 2012 May 2012 Jun 2012 Total
64)
Coventry Court Regulatory Agreement & Declaration of Restrictive
09/30/2010
Redevelopment Agency
Agency monitors receipt of payment in lieu of taxes as well
MCAS Tustin
Annual
See Row#8
RPTTF
$ -
Covenants and Supplemental Regulatory Agreement
as developer's compliance with contractual senior affordable
housing obligations related to 153 affordable units within the
Project. To the extent RPTTF funds are not available to fund
this enforceable obligation, the obligation shall be considered
an encumbrance of LMIHF funds.
This Page (RPTTF Funding)
Page 2 (Other Funding)
Page 3 (Administrative Cost Allowance)
Page 4 (Pass Thru Payments)
1 $ 2.230.537 1 $ 2.784.391 1 N/A 1 $ 2.230.537 1 $ 2.784.391 1 $ 957.199 1 $ 242.8801 $ 260.380 1 $ 290.791 1 $ 6.766.178 1
Grand total - All Pages II $ 338,982,652 II $ 25,582,58511 II $ 7,475,498 II $ 4,245,910 I
* The Preliminary Draft Recognized Obligation Payment Schedule (ROPS) is to be completed by 3/1/2012 by the successor agency, and subsequently be approved by the oversight board before the final ROPS is submitted to the State Controller and State Department of Finance by April 15, 2012. It is not a
submitting the final Oversight Approved ROPS to the State Controller and State Department of Finance.
** All totals due during fiscal year and payment amounts are projected.
*** Funding sources from the successor agency: (For fiscal 2011-12 only, references to RPTTF could also mean tax increment allocated to the Agency prior to February 1, 2012.)
RPTTF - Redevelopment Property Tax Trust Fund Bonds - Bond proceeds Other - reserves, rents, interest earnings, etc
Name of Redevelopment Agency. Successor Agency to the Tustin Community Redevelopment Agency FORM B -AII Revenue Sources Other Than Redevelopment Property Tax Trust Fund (RPTTF)
Project Area(s) RDA Project Area All
THIRD AMENDED RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AS 26 - Section 34177 (*)
Payable from Other Revenue Sources
Contra ct/Agreem ant
Total Outstanding
Total Due During
Fiscal Year
Funding
Source
Payments b month
Jan 2012
Feb 2012
Mar 2012
Apr 2012
May 2012
Jun 2012
Total
Project Name / Debt Obligation
Execution Date
Payee
Description
Project Area
Debt or Obligation
2011-2012**
1)
Contract for Environmental Services
11/16/2010
Pacific States
Construction of Tustin Ranch Road Phase 1 Grading & Storm Drain
MCAS Tustin
73,800
67,800
Bonds
10,390
6,467
$ 16,857
2)
Contract for GeoTech Services
09/07/2010
NMG
Construction of Tustin Ranch Road Phase 1 Grading & Storm Drain
MCAS Tustin
20,100
20,100
Bonds
20,100
$ 20,100
3)
Contract for Construction Management
05/03/2011
Parsons Transportation Group
Construction management for Tustin Ranch Road (Phase 1 and 2)
MCAS Tustin
1,882,075
749,157
Bonds
64,767
100,000
100,000
100,000
100,000
100,000
$ 564,767
4)
Contract for Environmental Services
11/02/2010
Vandermost Consulting
Regulatory Agency consulting
MCAS Tustin
30,000
30,000
Bonds
2,311
$ 2,311
5)
Direct Project -related costs associated with MCAS Tustin Tax
Employees that perform direct project -related
Annual Payroll for employees supporting Bond -funded projects
MCAS Tustin
604,050
256,550
Bonds
21,380
21,380
21,380
21,380
21,380
21,380
$ 128,280
Allocation Bonds, Series 2010 (including Salary and Benefits of
activities for the MCAS Tustin Tax Allocation bond -
employees)
funded projects.
6)Section
1.2 of the "Second Amended Agreement for
06/19/2012
Successor Agency to the Tustin Community
The Oversight Board of the Successor Agency to the Tustin Community
MCAS Tustin
5,983,863
5,486,863
Bonds
2,134,000
2,595,044
754,819
$ 5,483,863
Reimbursement of Costs and City/Administrative Agency
Redevelopment Agency
Redevelopment Agency approved the administrative budget on March 13, 2012
Operations Loan" between the Successor Agency and the City and
and the Successor Agency adopted Successor Agency Resolution No. 12-04 on
an Administrative Budget pursuant to California Health and Safety
March 20, 2012 approving the Administrative Budget and approved the
Code Section 341770).
"Agreement for Reimbursement of Costs and City/Successor Agency Operations
Loan". The first amendment to this agreement was subsequently approved on
April 10, 2012 by the Oversight Board of the Successor Agency and then approved
by the Successory Agency on April 17, 2012. The second amendment to this
agreement was subsequently approved on May 29, 2012 by the Oversight Board
of the Successor Agency in accordance with Health and Safety Code (HSC)
Section 34180(e). HSC Section 34180(e) specifically states that certain successor
agencyactions shall first be approved by the Oversight Board, including continuing
the acceptance of federal or state grants, or other forms of financial assistance
from either public or private sources, where assistance is conditioned upon the
provision of matching funds, by the successor entity as successor to the former
redevelopment agency in an amount greater than 5 percent. On June 19, 2012,
theSuccessory Agency approved the second amendment which includes a
matching contribution for Phase 1 and 2 of the Tustin Ranch Road Project. (This
is not a duplication of costs identified in Row #1 of Form C, which lists costs
assigned to Section 1.1 of the "Second Amended Agreement for
Reimbursement of Costs and City/Successor Agency Operations Loan")
7)
Housing Tax Allocation Bonds, Series 2010 - Legal Services
various
City Attorney - Woodruff, Spradlin & Smart
project -specific legal services for bond -related activities identified in Row #1 of
All
Annual
65,000
Other
10,000
10,000
10,000
20,000
15,000
$ 65,000
Form A
8)
Payment in Lieu of Taxes Agreement - Flanders Pointe & Orange
various
City Attorney - Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in
All
Annual
5,000
Other
2,000
3,000
$ 5,000
Ga=ral services
Rows #10-11 of Form A
9)
Olson DDA/Arbor Walk - Legal Services
various
City Attorney - Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in
All
Annual
35,000
Other
12,500
7,500
5,000
5,000
5,000
$ 35,000
Rows #12-13 of Form A
10)
Heritage PlaceDDA/Loan Agreement - Legal Services
various
City Attorney - Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in
All
Annual
35,000
Other
4,000
4,000
9,000
9,000
9,000
$ 35,000
Rows #14-15 of Form A
11)
Single and Multi -Family Rehabilitation Loans - Legal Services
various
City Attorney - Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in Row
All
Annual
10,000
Other
2,500
2,500
2,500
2,500
$ 10,000
#16 of Form A
12)
Town Center Housing Deficit Reduction Plan - Legal Services
various
City Attorney - Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in Row
Town Center
Annual
5,000
Other
2,500
2,500
$ 5,000
#17 of Form A
13)
Tax Al location Refunding Bonds 1998 (Town Center) - Legal
various
City Attorney - Woodruff, Spradlin & Smart
project -specific legal services for bond -related activities identified in Row #18 of
Town Center
Annual
65,000
Other
15,000
25,000
25,000
$ 65,000
Services
Form A
14)
Stevens Square Parking Garage Declaration of Covenants,
various
City Attorney - Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in Row
Town Center
Annual
25,000
Other
5,000
5,000
5,000
10,000
$ 25,000
Conditions, Restrictions and Reservations - Legal Services
#22 of Form A
15)
Ambrose Lane/First Time Homebuyer - Legal Services
various
City Attorney - Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in
Town Center
Annual
25,000
Other
10,000
5,000
10,000
$ 25,000
Rows #23-24 of Form A
16)
Tustin Grove - Legal Services
various
City Attorney - Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in
South Central
Annual
20,000
Other
10,000
10,000
$ 20,000
Rows #47-48 of Form A
17)
Tax Allocation Bonds -MCAS Tustin, Series 2010 - Legal Services
various
City Attorney - Woodruff, Spradlin & Smart
project -specific legal services for bond -related activities identified in Row# 49 of
MCAS Tustin
Annual
65,000
Other
10,000
20,000
20,000
15,000
$ 65,000
Form A
18)
Lease in Furtherance of Conveyance (LIFOC) executed May 13,
various
City Attorney - Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in Row
MCAS Tustin
Annual
60,000
Other
10,000
15,000
10,000
10,000
15,000
$ 60,000
2002 betweenthe United States of America and the City of Tustin
#52 of Form A
for Portions of the Former Marine Corps Air Station Tustin - Legal
Services
19)
Lease nFurtherance of Conveyance (LIFOC) executed June 16,
various
City Attorney - Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in Row
MCAS Tustin
Annual
60,000
Other
10,000
10,000
15,000
15,000
10,000
$ 60,000
2004 between the United States of America and the City of Tustin
#53 of Form A
for Parcel 22 of the Former Marine Corps Air Station Tustin - Legal
Services
20)
Economic Development Conveyance (EDC) Application for Marine
various
City Attorney - Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in Row
MCAS Tustin
Annual
50,000
Other
5,000
15,000
15,000
5,000
10,000
$ 50,000
Corps Air Station (MCAS) Tustin as Amended - Legal Services
#54 of For A
21)
Coventry Court Regulatory Agreement & Declaration of Restrictive
various
City Attorney - Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in Row
MCAS Tustin
Annual
25,000
Other
5,000
5,000
5,000
5,000
5,000
$ 25,000
Covenants and Supplemental Regulatory Agreement - Legal
#64 of Form A
Services
$
Totals - LM IH F
N/A
$
$ 8 593 888
$ 7 160 470
N/A
$ 2 230 537
$ 2 784 391
$ 957 199
$ 242 880
$ 260 380
$ 290 791
$ 6 766 178
Totals - Bond Proceeds
$
Totals - OtherN/A
$ 8 593 888
$ 7,160,470
N/A
$ 2 230 537
$ 2 784 391
$ 957 199
$ 242 880
$ 260 380
$ 290 791
$ 6 766 178
Grand total - This Page
* The Preliminary Draft Recognized Obligation Payment Schedule (ROPS) was to be completed by 3/1/2012 by the successor agency, and subsequently be approved by the oversight board before the final ROPS is submitted to the State Controller and State Department of Finance by April 15, 2012. It is not a requirement that the Agreed Upon Procedures Audit be completed before submitting the Final
**AII total due during fiscal year and payment amounts are projected.
*** Fundingsources from the successor agency: (For fiscal 2011-12 only, references to RPTTF could also mean tax increment allocated to the Agency prior to February 1, 2012.)
RPTTF - Retlevelopment Property Tax Trust Fund Bonds - Bond proceeds Other - reserves, rents, interest earnings, etc
LMIHF- Low and Moderate Income Housing Fund Admin - SuccessorA enc Atlministmtive Allowance
Name of Redevelopment Agency: Successor Agency to the Tustin Community Redevelopment Agency
Project Area(s) RDA Project Area All
THIRD AMENDED RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26 - Section 34177 (*)
FORM C - Administrative Cost Allowance Paid With Redevelopment Property Tax Trust Fund (RPTTF)
Payable from the Administrative Allowance Allocation ****
Total Due During
Payments by month
Total Outstanding
Fiscal Year
Funding
Jan 2012
Feb 2012
Mar 2012
Apr 2012
May 2012
Jun 2012
Total
Project Name / Debt Obligation
Payee
Description
Pro ect Area
Debt or Obligation
2011-2012**
Source **
1)
Section 1.1 of the "Second Amended
Employees funded by the
Administrative Budget for employees, overhead &
All
813,359
813,359
Admin
0
162,670
162,670
162,670
162,670
162,679
$ 813,359
Agreement for Reimbursement of
Successor Agency that
legal services needed for direct administrative
Costs and City/Administrative Agency
perform Successor Agency
operation. The Oversight Board of the Successor
Operations Loan" between the
activites as needed for direct
Agency to the Tustin Community Redevelopment
Successor Agency and the City and an
administrative operations as
Agency approved the administrative budget on
Administrative Budget pursuant to
well as overhead and legal
March 13, 2012 and the Successor Agency
California Health and Safety Code
services.
adopted Successor Agency Resolution No. 12-04
Section 34177 Q) (including salary and
on March 20, 2012 approving the Administrative
benefits funded by the Successor Agency
Budget and approved the "Agreement for
and administrative costs. Administrative
Reimbursement of Costs and City/Successor
costs include the agreement with
Agency Operations Loan". The first amendment to
Woodruff, Spradlin & Smart $300,000 for
this agreement was subsequently approved on
administrative legal services and the
April 10, 2012 by the Oversight Board of the
Lease of Office Space $49,497)
Successor Agency and then approved by the
Successory Agency on April 17, 2012. The second
amendment to this agreement was subsequently
approved on May 29, 2012 by the Oversight Board
of the Successor Agency and then approved by the
Successory Agency on June 19, 2012. This
amount will fluctuate annually. The Adminstrative
Budget was calculated in accordance with
California Health and Safety Code Section
34171(b), 5% of the property tax allocated to the
Successor Agency for FY 2011-2012. (This is not
a duplication of costs identified in Row #6 of
Form B, which lists costs assigned to Section
1_2 of the "Second Amended Agreement for
Reimbursement of Costs and City/Successor
Agency Operations Loan")
2)
Contract for Legal Services
City Attorney - Woodruff,
Legal counsel - public law & specialty legal council
All
Actual expenses
Actual expenses
Admin
Spradlin & Smart (including
as needed to directly support administrative
were included in
were included in
Stradling Yocca Carlson &
activities. Woodruff, Spradlin & Smart also
the Administrative
the Administrative
Rauth, Remy, Thomas, Moose
provides legal services under direct project
Budget - Row#1
Budget - Row#1
& Manley, Waters & Company,
services and these costs are not double -counted
and Jeanette Justus)
between administrative -related legal expenses and
project -related legal expenses.
$
3)
Lease of Office Space
PK II Holdco, LLC
Office space rent
All
Actual expenses
Actual expenses
Admin
were included in
were included in
the Administrative
the Administrative
Budget - Row#1
Budget - Row#1
4)
Auditing Services
White, Nielson, Diehl, Evans,
Auditing of annual Agency expenditures
All
Actual expenses
Actual expenses
Admin
LLP
were included in
were included in
the Administrative
the Administrative
Budget - Row#1
Budget - Row#1
$
Totals - This Pae
$ 813,359$
813,359
$
$ 162,670
$ 162,670
$ 162,670
$ 162,670
$ 162,679
$ 813,359
* The Preliminary Draft Recognized Obligation Payment Schedule (BOPS) is to be completed by 3/1/2012 by the successor agency, and subsequently be approved by the oversight board before the final BOPS is submitted to the State Controller and State Department of Finance by April 15, 2012. It is
not a requirement that the Agreed Upon Procedures Audit be completed before submitting the final Oversight Approved BOPS to the State Controller and State Department of Finance.
** All total due during fiscal year and payment amounts are projected.
*** Funding sources from the successor agency: (For fiscal 2011-12 only, references to RPTTF could also mean tax increment allocated to the Agency prior to February 1, 2012.)
RPTTF - Redevelopment Property Tax Trust Fund Bonds - Bond proceeds Other - reserves, rents, interest earnings, etc
LMIHF - Low and Moderate Income Housing Fund Admin - Successor Agency Administrative Allowance
* * - Administrative Cost Allowance caps are 5% of Form A 6 -month totals in 2011-12 and 3% of Form A 6 -month totals in 2012-13. The calculation should not factor in pass through payments paid for with RPTTF in Form D.
Name of Redevelopment Agency: Successor Agency to the Tustin Community Redevelopment Agency FORM D - Pass -Through Payments
Project Area(s) RDA Project Area All
OTHER OBLIGATION PAYMENT SCHEDULE
Per AB 26 - Section 34177 (*)
Project Name / Debt Obligation Payee
Description
Project Area
Total Outstanding
Debt or Obligation
Total Due During
Fiscal Year
2011-2012**
Source of
Fund*** Jan 2012 Feb 2012
Pass Through and Other Payments ****
Payments by month
Mar 2012 Apr 2012 May 2012 Jun 2012
Total
1 City of Tustin City of Tustin
pass thru payments per AB 1290
General
5,040,723
76,580
RPTTF
76,580
$
76,580.00
2 Tustin Unified School District (TUSD) TUSD
pass thru payments per AB 1290
General
56,531,860
858,850
RPTTF
858,850
$
858,850.00
3 Santa Ana Unified School District (SAUSD) SAUSD
pass thru payments per AB 1290
General
2,644,380
40,174
RPTTF
40,174
$
40,174.00
4 Irvine Unified School District (IVSD) IUSD
pass thru payments per AB 1290
General
43,344,635
658,506
RPTTF
658,506
$
658,506.00
5 South Orange County Community College SOCCCD
pass thru payments per AB 1290
General
21,465,486
326,111
RPTTF
326,111
$
326,111.00
6 Rancho Santiago Community College District RSCCD
pass thru payments per AB 1290
General
581,386
8,833
RPTTF
8,833
$
8,833.00
7 Orange County Water District (OCWD) OCWD
pass thru payments per AB 1290
General
1,590,627
24,165
RPTTF
24,165
$
24,165.00
g Orange County Transit Authority (OCTA) OCTA
pass thru payments per AB 1290
General
544,294
8,269
RPTTF
8,269
$
8,269.00
g Orange County Sanitation District (OCSD) OCSD
pass thru payments per AB 1290
General
3,180,448
48,318
RPTTF
48,318
$
48,318.00
10 Orange County Library District County of Orange
pass thru payments per AB 1290
General
3,234,474
49,139
RPTTF
49,139
$
49,139.00
11 Orange County Department of Education County of Orange
pass thru payments per AB 1290
General
4,048,576
61,507
RPTTF
61,507
$
61,507.00
12 County of Orange County of Orange
pass thru payments per AB 1290
General
11,950,912
181,562
RPTTF
181,562
$
181,562.00
13 Orange County Flood Control District County of Orange
pass thru payments per AB 1290
General
3,835,858
58,276
RPTTF
58,276
$
58,276.00
14 Orange County Harbors, Beaches, & Parks County of Orange
pass thru payments per AB 1290
General
2,965,150
45,048
RPTTF
45,048
$
45,048.00
15 Orange County Vector Control District County of Orange
pass thru payments per AB 1290
General
216,911
3,295
RPTTF
3,295
$
3,295.00
16 Orange County Cemetery District (OCCD) OCCD
pass thru payments per AB 1290
General
96,279
1,463
RPTTF
1,463
$
1,463.00
Totals - Other Obligations
$ 161,271,999
$ 2,450,096
$ $ $
$ $ $ 2,450,096.00 $
$
2,450,096.00
* The Preliminary Draft Recognized Obligation Payment Schedule (ROPS) is to be completed by 3/1/2012 by the successor agency, and subsequently be approved by the oversight board before the final ROPS is submitted to the State Controller and State Department of Finance by April 15,
2012. It is not a requirement that the Agreed Upon Procedures Audit be completed before submitting the final Oversight Approved ROPS to the State Controller and State Department of Finance.
** All total due during fiscal year and payment amounts are projected.
*** Funding sources from the successor agency: (For fiscal 2011-12 only, references to RPTTF could also mean tax increment allocated to the Agency prior to February 1, 2012.)
RPTTF - Redevelopment Property Tax Trust Fund Bonds - Bond proceeds Other - reserves, rents, interest earnings, etc
LMIHF - Low and Moderate Income Housing Fund Admin - Successor Agency Administrative Allowance
**** - Only the January through June 2012 ROPS should include expenditures for pass-through payments. Starting with the July through December 2012 ROPS, per HSC section 34183 (a) (1), the county auditor controller will make the required pass-through payments prior to transferring
money into the successor agency's Redevelo ment Obligation Retirement Fund for items listed in an oversight board approved ROPS.
OVERSIGHT BOARD RESOLUTION NO. 12-05
A RESOLUTION OF THE OVERSIGHT BOARD OF THE
SUCCESSOR AGENCY TO THE TUSTIN COMMUNITY
REDEVELOPMENT AGENCY ADOPTING A SECOND
AMENDED SECOND RECOGNIZED OBLIGATION
PAYMENT SCHEDULE AND MAKING CERTAIN
FINDINGS IN CONNECTION THEREWITH
The Oversight Board of the Successor Agency to the Tustin Community
Redevelopment Agency finds, determines and declares as follows:
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 of Tustin ("City"); and
B. AB X1 26 ("AB26") added Parts 1.8 and 1.85 to Division 24 of the California Health
and Safety Code, which laws cause the dissolution and wind down of all
redevelopment agencies ("Dissolution Act"), and
C. On December 29, 2011, in the petition California Redevelopment Association 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 as of and on February 1, 2012; and
D. The Agency is now a dissolved community redevelopment agency pursuant to the
Dissolution Act; and
E. 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 "successor
agency" to the dissolved Agency under the Dissolution Act; and
F. As of and on and after February 1, 2012, the City serves as the "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 the review and approval by the seven -member
Oversight Board formed thereunder; and
G. Section 34179 of the Dissolution Act requires all actions taken by the Oversight
Board to be adopted by resolution; and
H. Pursuant to Section 34179, the Successor Agency's Oversight Board has been
formed and the initial meeting has occurred on March 13, 2012; and
Oversight Board Resolution 12-05
Page 1 of 4
In accordance with Section 34180(g) of the CRL, which was added to the CRL by
AB26 and is set forth in Part 1.85 of the CRL, the Oversight Board approved the
Second Recognized Obligation Payment Schedule ("Second ROPS") for the period
of July through December 2012 on April 10, 2012. The Oversight Board on May 29,
2012, approved the First Amended Second Recognized Obligation Payment
Schedule ("First Amended Second ROPS"); and
J. Pursuant to Health and Safety Code (HSC) Section 34180(e), the Oversight Board,
on May 29, 2012, approved the acceptance of financial assistance from private and
public sources for the Phase 1 and Phase 2 Tustin Ranch Road Improvements
Project which financial assistance was 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; and
K. On June 19, 2012, the Successor Agency approved and authorized the Successor
Agency to enter into an Agreement for Reimbursement of Costs with the City for 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 Reimbursement Agreement utilizing the required
matching funds has been added to the Second Amended Second ROPS; and
L. The Oversight Board has duly considered all other related matters and has
determined that the Board's adoption of the Second Amended Second ROPS and
submission to the California Department of Finance is in the best interests of the
City, the Successor Agency, the holders of enforceable obligations, and the taxing
agencies that benefit from distributions of property tax and other revenue, and is in
the best interests of the health, safety, and welfare of residents, and in accord with
the public purposes and provisions of applicable state and local laws and
requirements.
NOW, THEREFORE, BE IT RESOLVED BY A RESOLUTION OF THE
OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TUSTIN
COMMUNITY REDEVELOPMENT AGENCY:
Section 1. The foregoing recitals are incorporated into this Resolution by this
reference, and constitute a material part of this Resolution.
Section 2. The Oversight Board approves the Second Amended Second ROPS
attached hereto as Attachment No. 1 and incorporated herein, and further authorizes
the Successor Agency to transmit this Resolution to the County Auditor -Controller, the
State Department of Finance ("DoF"), and the State Controller's Office.
Oversight Board Resolution 12-05
Page 2 of 4
Section 3. The City Manager, on behalf of the Successor Agency, or his authorized
designee is directed to post this Resolution on the City/Successor Agency website.
Section 4. This Resolution shall be effective after transmittal of this Resolution to the
DoF and the expiration of five (5) business days pending a request for review by the
DoF within the time periods set forth in HSC 34179(h), as amended by Assembly Bill
No. 1484, approved by the Governor on June 27, 2012. In this regard, if the DoF
requests review hereof, it will have 40 days from the date of its request to approve this
Oversight Board action or return it to the Oversight Board for reconsideration and the
action, if subject to review by DoF, will not be effective until approved by DoF
Section 5. The Secretary of the Oversight Board shall certify to the adoption of this
Resolution.
APPROVED AND ADOPTED this 10th day of July, 2012.
Doug Davert, Chairman
Oversight Board of the Successor Agency to
the Tustin Community Redevelopment Agency
ATTEST:
Jerry Amante, Secretary
Oversight Board of the Successor Agency to
the Tustin Community Redevelopment Agency
Oversight Board Resolution 12-05
Page 3 of 4
STATE OF CALIFORNIA )
COUNTY OF ORANGE )SS
CITY OF TUSTIN )
I, JERRY AMANTE, Secretary of the Oversight Board of the Successor Agency
to the Tustin Community Redevelopment Agency, do hereby certify that the whole
number of the members of the Agency Board is seven; that the above and foregoing
Resolution No. 12-05 was duly passed and adopted at a regular meeting of the
Oversight Board, held on the 10th day of July, 2012, by the following vote:
:•;:a ►� ►�: ;c
......... . .
Jerry Amante, Secretary
Oversight Board of the Successor Agency to
the Tustin Community Redevelopment Agency
Attachment No. 1 — 2" d Amended Second Recognized Obligation Payment Schedule
Oversight Board Resolution 12-05
Page 4 of 4
r_1ir_[•7:1►v 1:4 Z 11011,11, CoxI
July 1, 2012 through December 31, 2012
SECOND AMENDED SECOND RECOGNIZED OBLIGATION PAYMENT SCHEDULE - CONSOLIDATED
FILED FOR THE JULY to DECEMBER 2012 PERIOD
Name of Successor Agency Successor Agency to Tustin Community Redevelopment Agency
Certification of Oversight Board Chairman:
Pursuant to Section 34171(b) of the Health and Safety code,
I hereby certify that the above is a true and accurate Recognized
Enforceable Payment Schedule for the above named agency.
7M.1A
Signature
Title
Date
Current
Total Outstanding
Total Due
Debt or Obligation
During Fiscal Year
Outstanding Debt or Obligation
$ 171,839,303.00
$ 13,856,835.00
Total Due for Six Month Period
Outstanding Debt or Obligation
$ 19,774,982.00
Available Revenues other than anticipated funding from RPTTF
$ 9,745,342.00
Enforceable Obligations paid with RPTTF
$ 9,737,515.00
Administrative Cost paid with RPTTF
$ 292,125.00
Pass-through Payments paid with RPTTF
$ -
Administrative Allowance (Up to 3 percent of the property tax allocated to the Redevelopment Obligation Retirement
Fund money that is allocated to the successor agency for each fiscal year thereafter; provided, however, that the amont shall
not be less than two hundred fifty thousand dollars ($250,000) for any fiscal year or such lesser amount as agreed to by the
successor agency. However, the allowance amount shall exclude any administrative costs that can be paid from bond
proceeds or from sources other than property tax.
1 $ 292,125.45
Certification of Oversight Board Chairman:
Pursuant to Section 34171(b) of the Health and Safety code,
I hereby certify that the above is a true and accurate Recognized
Enforceable Payment Schedule for the above named agency.
7M.1A
Signature
Title
Date
Name of Redevelopment Agency: Tustin Community Redevelopment Agency FORM A - Redevelopment Property Tax Trust Fund (RPTTF)
Project Area(s) RDA Project Area All
SECOND AMENDED SECOND RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26 - Section 34177 (*)
Payable from the Redevelopment Property Tax Trust Fund (RPTTF)
Due During
***
Pa ents b month
Contract/AgreementTotal
Total Outstanding
Fiscal Year
Funding
July 2012
Aug 2012
Sept 2012
Oct 2012
Nov 2012
Dec 2012
Total
Project Name / Debt Obligation
Execution Date
Payee
Description
Pro ect Area
Debt or Obligation
2012-2013**
Source
1)
Housing Tax Allocation Bonds, Series 2010
03/01/2010
Bondholders via The Bank of New York Mellon
Proceeds from the sale of the Bonds will be used to (a)
All
40,664,159
1,815,181
RPTTF
1,270,453
544,728
$ 1,815,181
prepay a portion of the City Obligation (Affordable Housing
Reimbursement Agreement), (b) fund a reserve account for
the Bonds, and (c) provide for the cost of issuing the Bonds.
Total outstanding debt includes principal and interest.
2)
Fiscal Agent Fees - TA Bond 2010
01/19/2010
The Bank of New York Mellon
administration of bond activities [paid annually]
All
3,300
3,300
RPTTF
3,300
$ 3,300
3)
Continuing disclosure services & arbitrage services
10/30/2010 & 8/12/1993
Applied Best Practices; Willdan & Associates
Continuing disclosure services for 2010 Housing bonds and
All
4,350
1,350
RPTTF
1,350
$ 1,350
arbitrage services.
4)
County Administrative Fee
County of Orange
annual tax collection adm in istrative fee
All
213,000
213,000
RPTTF
213,000
$ 213,000
5)
Graffiti removal
10/01/2008
Graffiti Control Systems
Graffiti removal in the Town Center and South Central
All
13,800
13,800
RPTTF
4,600
4,600
4,600
$ 13,800
Redevelopment Project Areas. Contract is paid for through
CDBG, General and RDA funds.
6)
Contract for available commercial property search
09/29/2010
LoopNet, Inc.
Web -based Commercial Property Search for available retail,
All
3,500
3,500
RPTTF
$ -
commercial, industrial and other property types in Tustin
7)
Contract for web -based business assistance information
03/18/2011
Tools for Business Success, LLC
Web -based business assistance tools available on the City of
All
1,140
1,140
RPTTF
$ -
Tustin website
8)
Direct Project Related Costs (including Salary and Benefits funded by the
Former employees funded by the Successor Agency
ANNUAL Payroll for employees for direct project operation;
All
581,043
581,043
RPTTF
49,942
49,942
49,942
49,942
49,942
49,942
$ 299,652
Successor Agency)
that perform Successor Agency activities for direct
th is am ount will fluctuate annually. The em ployees are
project support
performing project related activities involving the
enforceable obligations listed on Rows #10417, Rows #21-
#33, Rows #38-#48, & Rows #52-#64.
9)
PERS liability (annually adjusted)
City of Tustin
Employees funded by the Successor Agency that perform
All
140,518
RPTTF
$ -
SuccessorAgencyactivities. The liability is reviewed
annually and may increase or decrease based on a variety of
economic and actuarial assumptions.
10)
Bank Analysis Fees
Bank of America
Fees Charged by bank for transactions
All
30,000
30,000
RPTTF
$ -
11)
Payment in Lieu of Taxes Agreement - Flanders Pointe
10/01/1999
City of Tustin
Agency monitors to insure receipt of annual payment
All
Annual
See Row#8
RPTTF
$ -
12)
Payment in Lieu of Taxes Agreement - Orange Gardens
08/13/1998
City of Tustin
Agency monitors to insure receipt of annual payment
All
Annual
See Row#8
RPTTF
$ -
13)
Olson DDA/Arbor Walk
03/01/2004
Redevelopment Agency
Monitoring to ensure the project complies with the DDA. To
All
Annual
See Row#8
RPTTF
$
the extent RPTTF funds are not available to fund this
enforceable obligation, then the obligation shall be
considered an encumbrance of the LMIHF.
14)
Arbor Walk Promissory Notes
varies
Redevelopment Agency
Agency monitors to ensure the 10 affordable homeownership
All
Annual
See Row#8
RPTTF
$ -
units are in compliance with the Promissory Notes and
recorded Affordable Housing Covenants. In addition, the
Agency prepares and executes affordable housing
documents when affordable homeowners refinance or sell
their homes. To the extent RPTTF funds are not available to
fund this enforceable obligation, then the obligation shall be
considered an encumbrance of the LMIHF.
15)
Heritage Place DDA
04/11/2002
Redevelopment Agency
Agency monitors to ensure 53 units are in compliance with
All
Annual
See Row#8
RPTTF
$ -
affordability requirements. To the extent RPTTF funds are
not available to fund this enforceable obligation, then the
obligation shall be considered an encumbrance of the
LMIHF.
16)
Heritage Place Loan Agreement
04/12/2007
Redevelopment Agency
Financial assistance was provided by the Agency to the
All
Annual
See Row#8
$ -
Developer for construction of a multi -family project and the
Agency monitors the terms of the loan agreement (expires 4-
15-2033), including the residual receipt payment. To the
extent RPTTF funds are not available to fund this
enforceable obligation, then the obligation shall be
considered an encumbrance of the LMIHF.
17)Single
and Multi-Fam ily Rehabilitation Loans
vary
Redevelopment Agency
Agency monitors 6 Single Fam ily and Multi-Fam ily Loans
All
Annual
See Row#8
RPTTF
$ -
between the Agency and Property Owners of rehabilitated
properties.
18)
Asset Transfer Obligations
TBD
Successor Agency
In accordance with California Health and Safety Code
All
TBD
0
RPTTF
$ -
Section 34117(e) the Successor Agency is responsible for
disposing of assets and properties as directed by the
Oversight Board pursuant to subvision a of Section 34181.
The Successor Agency will incur costs associated with the
transfer of assets including but not limited to escrow fees,
title costs, recording fees and any other associated closing
costs.
19)
Town Center Housing Deficit Reduction Plan
05/01/2000
Agency's Town Center Housing Set -Aside fund
Repayment for Town Center Housing Set -Aside funds
Town Center
1,876,042
900,000
RPTTF
900,000
$ 900,000
diverted to support non -housing Redevelopment activities in
Town Center during the period of 1986 - 1992.
20)
Tax Allocation Refunding Bonds 1998 (Town Center)
07/01/1998
Bondholders via US Bank
Bond issue to fund non -housing projects. Total outstanding
Town Center
8,181,750
1,638,771
RPTTF
1,492,830
$ 1,492,830
debt includes principal and interest.
21)
Fiscal Agent Fees - TA Bond 1998
01/19/2010
US Bank
administration of bond activities
Town Center
3,300
3,300
RPTTF
3,300
$ 3,300
Payable from the Redevelopment Property Tax Trust Fund (RPTTF)
Due During
***
Pa ents b month
Contract/AgreementTotal
Total Outstanding
Fiscal Year
Funding
July 2012
Aug 2012
Sept 2012
Oct 2012
Nov 2012
Dec 2012
Total
Project Name / Debt Obligation
Execution Date
Payee
Description
Pro ect Area
Debt or Obligation
2012-2013**
Source
22)
Continuing disclosure & arbitrage services
10/30/2010 & 8/12/1993
Applied Best Practices; Willdan & Associates
Continuing disclosure & arbitrage services for 1998 bonds
Town Center
6,000
6,000
RPTTF
3,000
$ 3,000
23)
Contract for engineering services
06/09/2011
Critical Structures, Inc.
Structural engineering assessment of Stevens Square
Town Center
8,100
8,100
RPTTF
4,000
4,100
$ 8,100
Parking Structure
24)
Stevens Square Parking Garage Declaration of Covenants, Conditions,
06/17/1988
Stevens Square Parking Structure Condominium
There are ongoing maintenance costs as required by the
Town Center
43,000
10,840
RPTTF
320
320
320
320
3,820
3,820
$ 8,920
Restrictions and Reservations
Association
CC&Rs. In addition, there are one-time, deferred
maintenance repairs that will be determined by the structural
engineering assessment. The costs associated with ongoing
maintenance and deferred maintenance repairs are
estimates.
25)
Ambrose Lane/First Time Homebuyer
05/17/2000
Redevelopment Agency
Agency monitors to ensure the 5 affordable homeownership
Town Center
Annual
See Row#8
RPTTF
$ -
units are in compliance with the Promissory Notes and
recorded Affordable Housing Covenants. In addition, the
Agency prepares and executes affordable housing
documents when affordable homeowners refinance or sell
their homes. To the extent RPTTF funds are not available to
fund this enforceable obligation, then the obligation shall be
considered an encumbrance of the LMIHF.
26)
First Time Homebuyer Promissory Note
05/17/2000
Redevelopment Agency
Agency monitors to ensure the 1 first time homebuyer unit is
Town Center
Annual
See Row#8
RPTTF
$
in compliance with the Promissory Note and an Affordable
Housing Covenant. In addition, the Agency prepares and
executes affordable housing documents when the affordable
homeowner refinances or sells their home. To the extent
RPTTF funds are not available to fund this enforceable
obligation, then the obligation shall be considered an
encumbrance of the LMIHF.
27)
Makena DDA
10/19/2004
Redevelopment Agency
Monitoring to insure developer is in compliance with
Town Center
Annual
See Row#8
RPTTF
$ -
contractual obligations.
28)
Old Town Plaza Retail Rehab DDA
05/10/2001
Redevelopment Agency
Monitoring to insure developer is in compliance with
Town Center
Annual
See Row#8
RPTTF
$ -
contractual obligations.
29)
Plaza Lafayette DDA
07/02/1985
Redevelopment Agency
Monitoring to insure developer is in compliance with
Town Center
Annual
See Row#8
RPTTF
$ -
contractual obligations.
30)
Ford Commercial Rehab DDA
09/15/1998
Redevelopment Agency
Monitoring to insure developer is in compliance with
Town Center
Annual
See Row#8
RPTTF
$ -
contractual obligations.
31)
Micro Center DDA
11/21/1994
Redevelopment Agency
Monitoring to insure developer is in compliance with
Town Center
Annual
See Row#8
RPTTF
$ -
contractual obligations.
32)
Thompson Building OPA
06/06/1994
Redevelopment Agency
Monitoring to insure developer is in compliance with
Town Center
Annual
See Row#8
RPTTF
$ -
contractual obligations.
33)
Stevens Square Parking Structure - License Agreement (8)
vary
Redevelopment Agency
Monitoring to insure 8licenses are in compliance with
Town Center
Annual
See Row#8
RPTTF
$ -
contractual obligations.
34)
Potted Plants Agreements (17)
vary
Redevelopment Agency
Monitoring to insure seventeen 17 agreements are in
Town Center
Annual
See Row#8
RPTTF
$ -
compliance with contractual obligations.
35)
Prospect Village DDA
06/21/2004
Redevelopment Agency
Monitoring to insure developer is in compliance with
Town Center
Annual
See Row#8
RPTTF
$ -
contractual obligations.
36)
Public Works Agreement/South Central Redevelopment Project
06/07/1993
City of Tustin
Original Loan amount to the Agency in 1993 was initially
South Central
38,254,807
3,909,424
RPTTF
1,954,712
$ 1,954,712
estimated to be $33,500,000 for the Newport Avenue
Extension (Newport Underpass) to Edinger Avenue. The
interest rate is .5% above the City's average yield on
investments. Repayment of the loan is based on City-funded
Phase 1 work (Capital Improvement Program - CIP 70130)
that has been completed on the Newport Avenue
Extension/SR-55 North Bound Ramp Reconfiguration
Project. The Phase 1 project began in 1993 and was
completed in March 2010. Phase 1 (CIP 70130) contracts
are not listed on previous EOPS or ROPS. There is no
duplication of obligations. Phase 2 work (CIP 70131)
consists of contracts listed below in Rows #49454 and these
contracts have not been double counted in Phase 1.
Pursuant to Section 1 Public Improvement Work of the
Public Works Agreement, the Successor Agency shall pay
the City when projects are completed and in semi-annual
installments (per Section 2 Payment by the Agency of the
Agreement). This installment will reflect initial
reimbursement payments until confirmation of the Oversight
Board of the actual increased costs of the project.
37)
Memorandum of Understanding with Orange County Water District
03/20/1985
Orange County Water District
Tax share agreement (pre-AB 1290) with the Agency.
South Central
28,000
2,000
RPTTF
$ -
38)
Memorandum of Understanding with Tustin Unified School District
09/13/1985
Tustin Unified School District
Tax share agreement pre-1290 with Agency. The agreement
South Central
0
0
RPTTF
$ -
(Section 33401 Payment; 9/13/1985)
provides that certain tax sharing payments would occur after
the Agency has expended $10 million dollars for construction
of facilities within the South Central Amendment Area and or
retired bonds or other indebtedness for such construction as
provided in the Agreement. The Agency has not retired the
indebtedness associated with the 1993 Public Works
Agreement and, as a result, there have been no payments
made to date.
Payable from the Redevelopment Property Tax Trust Fund (RPTTF)
Due During
***
Pa ents b month
Contract/AgreementTotal
Total Outstanding
Fiscal Year
Funding
July 2012
Aug 2012
Sept 2012
Oct 2012
Nov 2012
Dec 2012
Total
Project Name / Debt Obligation
Execution Date
Payee
Description
Pro ect Area
Debt or Obli anon
2012-2013**
Source
39)
Memorandum of Understanding with Saddleback Community College
09/13/1985
Saddleback Community College District
Tax share agreement pre -1290 with Agency. The agreement
South Central
0
0
RPTTF
$ -
District (Section 33401 Payment; 9/13/1985)
provides that certain tax sharing payments would occur after
the Agency has expended $10 million dollars for construction
of facilities within the South Central Amendment Area and or
retired bonds or other indebtedness for such construction as
provided in the Agreement. The Agency has not retired the
indebtedness associated with the 1993 Public Works
Agreement and, as a result, there have been no payments
made to date.
40)
Newport Av./SR55 NB Ramp Reconfiguration
11/25/2008
Psomas Engineering
Mapping and survey services
South Central
13,800
13,800
RPTTF
2,300
2,300
2,300
2,300
2,300
2,300
$ 13,800
41)
Newport Av./SR55 NB Ramp Reconfiguration
01/26/2010
Anderson Penna
Program management services
South Central
1,875
1,875
RPTTF
300
300
300
300
300
375
$ 1,875
42)
Newport Av. Extension, N/O Edinger Av.
02/02/2010
Dokken Engineering
Final design services
South Central
7,500
7,500
RPTTF
200
$ 200
43)
NewportAv. Extension, N/O Edinger Av.
10/08/2010
Nuvis
Landscape design services
South Central
19,290
19,290
RPTTF
2,300
3,000
3,000
3,000
3,000
4,990
$ 19,290
44)
NewportAv. Extension, N/O Edinger Av.
12/16/2007
Morrow Management
Dry Utility design and coordination services
South Central
1,200
1,200
RPTTF
300
300
300
300
$ 1,200
45)
Newport Av. Extension, N/O Edinger Av.
01/26/2010
Anderson Penna
Program management services
South Central
5,000
5,000
RPTTF
1,000
1,000
1,000
1,000
1,000
$ 5,000
46)
CBS Outdoor Billboard
12/19/1994
Redevelopment Agency
Monitoring to insure licensee is in compliance with
South Central
Annual
See Row#8
RPTTF
$ -
contractual obligations.
47)
Tustin Grove Promissory Notes and Affordable Housing Covenants
vary
Redevelopment Agency
Agency monitors to ensure the sixteen 16 affordable
South Central
Annual
See Row#8
RPTTF
$ -
homeownership units are in compliance with the Promissory
Notes and recorded Affordable Housing Covenants. In
addition, the Agency prepares and executes affordable
housing documents when affordable homeowners refinance
or sell their homes. To the extent RPTTF funds are not
available to fund this enforceable obligation, then the
obligation shall be considered an encumbrance of the
LMIHF.
48)
Tustin Grove Affordable Housing DDA
12/27/1995
Redevelopment Agency
Monitoring to ensure the project complies with the DDA. To
South Central
Annual
See Row#8
RPTTF
$
the extent RPTTF funds are not available to fund this
enforceable obligation, then the obligation shall be
considered an encumbrance of the LMIHF.
49)
Tax Allocation Bonds - MCAS Tustin, Series 2010
11/01/2010
Bondholders via The Ban of New York Mellon
Bond issue to fund non -housing projects. Total outstanding
MCAS Tustin
80,914,088
2,811,901
RPTTF
1,814,488
997,413
$ 2,811,901
debt includes principal and interest.
50)
Fiscal Agent Fees - TA Bond 2010
09/07/2010
The Bank of New York Mellon
administration of bond activities
MCAS Tustin
3,300
3,300
RPTTF
3,300
$ 3,300
51)
Continuing disclosure services & arbitrage services
10/30/2010 & 8/12/1993
Applied Best Practices; Willdan & Associates
Continuing disclosure services for 2010 MCAS bonds &
MCAS Tustin
4,350
1,350
RPTTF
1,350
$ 1,350
arbitrage services
52)
Lease in Furtherance of Conveyance (LIFOC) executed May 13, 2002
05/13/2002
Redevelopment Agency
Property Management, Maintenance, Environmental
MCAS Tustin
Varies
0
RPTTF
$ -
between the United States of America and the City of Tustin for Portions of
Remediation, and Real Estate obligations of City required by
the Former Marine Corps Air Station Tustin
Navy on Lease sites until conveyance of properties. This
includes asset management and disposal, property
management and remediation. Direct project related staffing
costs only associated with asset management and disposal
under the LIFOC are listed in Row #9. Contractual response
costs for all other responsibilities under the LIFOC
Agreement will be as they are incurred and as requested by
the Department of Navy.
53)
Lease in Furtherance of Conveyance (LIFOC) executed June 16, 2004
06/16/2004
Redevelopment Agency
Property Management, Maintenance, Environmental
MCAS Tustin
Varies
0
RPTTF
$ -
between the United States of America and the City of Tustin for Parcel 22
Remediation, and Real Estate obligations of City required by
of the Former Marine Corps Air Station Tustin
Navy on Lease sites until conveyance of properties. This
includes asset management and disposal, property
management and remediation. Direct project related staffing
costs only associated with asset management and disposal
under the LIFOC are listed in Row #9. Contractual response
costs for all other responsibilities under the LIFOC
Agreement will be as they are incurred and as requested by
the Department of Navy.
54)
Economic Development Conveyance (EDC) Application for Marine Corps
05/13/2002
Redevelopment Agency
Obligations of City required by Navy in the conveyance of
MCAS Tustin
Varies
0
RPTTF
$ -
Air Station (MCAS) Tustin as Amended
the property under the Reuse Plan adopted in 2002. This
includes asset management and disposal, property
management and remediation. Direct project related staffing
costs associated with asset management and disposal under
the EDC are listed in Row #9. Contractual response costs
for all other responsibilities under the EDC Agreement will be
as they are incurred and as requested by the Department of
Navy.
55)
lContract for Development Advisor services
09/07/2010
Developer's Research
Implementation Plan and Strategy
MCAS Tustin
11,000
11,000
RPTTF
5,000
6,000
$ 11,000
56)
Contract for Engineering & Planning
08/08/2010
RBF Consulting
Plan check and tract map services
MCAS Tustin
54,058
54,058
RPTTF
5,000
5,000
5,000
5,000
$ 20,000
57)
Contract for Planning Services
09/07/2010
SMS Architects
Implementation Plan and Strategy
MCAS Tustin
45,000
45,000
RPTTF
15,000
15,000
15,000
$ 45,000
58)
Contract for Engineering Services
09/07/2010
Hunsaker & Associates
Disposition Strategy & mapping services
MCAS Tustin
141,840
141,840
RPTTF
4,000
4,000
4,000
4,000
$ 16,000
59)
Contract for Financial Analysis
01/04/2011
David Taussig & Associates
financial advisory services associated with determining
MCAS Tustin
12,750
12,750
RPTTF
12,750
$ 12,750
distribution of assessments associated with background
infrastructure costs
60)
Newport/SR-55 Gateway Master plan &landscape Improvements
09/09/2010
RBF Consulting
Preparation of Gateway Master plan and design of landscape
MCAS Tustin
51,689
51,689
RPTTF
10,000
10,000
$ 20,000
improvements
61)
Website Hosting Agreement
1208/2010
Commpro, LLC
Website hosting for the MCAS Tustin website (Annual)
MCAS Tustin
1,800
1,800
RPTTF
150
150
150
150
150
150
$ 900
62)
Contract for fence repair
06/18/2008
National Construction Rental, Inc
Fence repairs as needed at MCAS Tustin
MCAS Tustin
8,210
2,400
RPTTF
200
200
200
200
200
200
$ 1,200
63)
Contract for Maintenance of undeveloped properties
11/20/2006
Spectrum Landscaping
Maintenance of undeveloped land (Annual)
MCAS Tustin
71,208
71,208
RPTTF
5,934
5,934
5,934
5,934
5,934
5,934
$ 35,604
64)
Coventry Court Regulatory Agreement & Declaration of Restrictive
09/30/2010
Redevelopment Agency
Agency monitors receipt of payment in lieu of taxes as well
MCAS Tustin
Annual
See Row#8
RPTTF
$ -
Covenants and Supplemental Regulatory Agreement
as developer's compliance with contractual senior affordable
housing obligations related to 153 affordable units within the
Project. To the extent RPTTF funds are not available to
fund this enforceable obligation, then the obligation shall be
considered an encumbrance of the LMIHF.
Totals- This Page (RPTTF Funding)
$ 171,423,767
$ 12,397,710
$
$ 2,076,508
$ 116,996
$ 3,178,337
$ 72,446
$ 76,546
$ 4,216,682
$ 9,737,515
Contract/AgreementTotal Due During Payable from the Redevelopment Property Tax Trust Fund (RPTTF) Total Outstanding I Fiscal Year I Funding � � � �
Page 2 (Other Funding)
Page 3 (Administrative Cost Allowance)
Grand total - All Pages II $ 171,839,303 II $ 13,856,83511 II $ 2,248,609 II $ 1,332,686 I1
* The Preliminary Draft Recognized Obligation Payment Schedule (ROPS) is to be completed by 3/1/2012 by the successor agency, and subsequently be approved by the oversight board before the final ROPS is submitted to the State Controller and State Department of Finance by April 15, 2012. It is not a
submitting the final Oversight Approved ROPS to the State Controller and State Department of Finance.
** All totals due during fiscal year and payment amounts are projected.
*** Funding sources from the successor agency: (For fiscal 2011-12 only, references to RPTTF could also mean tax increment allocated to the Agency prior to February 1, 2012.)
RPTTF - Redevelopment Property Tax Trust Fund Bonds - Bond proceeds Other - reserves, rents, interest earnings, etc
Name of Redevelopment Agency: Tustin Community Redevelopment Agency FORM B -AII Revenue Sources Other Than Redevelopment Property Tax Trust Fund (RPTTF)
Project Area(s) RDA Project Area All
SECOND AMENDED SECOND RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26 - Section 34177 (*)
Payable from Other Revenue Sources
Contract/Agreement
Total Outstanding
Total Due During
Fiscal Year
Funding
Source
Paymentsb month
July2012
Aug 2012
Sept2012
Oct 2012
Nov2012
Dec 2012
Total
Project Name/ Debt Obligation
Execution Date
Payee
Description
Pro ect Area
Debt or Obligation
2012-2013**
***
1)
Contract for Environmental Services
11/16/2010
Pacific States
Construction of Tustin Ranch Road Phase 1 Grading & Storm Drain (contract may
MCAS Tustin
6,000
6,000
Bonds
6,000
$ 6,000
be amended to complete future bond -related projects)
2)
Contract for GeoTech Services
09/07/2010
NMG
Construction of Tustin Ranch Road Phase 1 Grading & Storm Drain (contract may
MCAS Tustin
20,100
20,100
Bonds
20,100
$ 20,100
be amended to complete future bond -related projects)
3)
Contract for Construction Management
05/03/2011
Parsons Transportation Group
Construction management for Tustin Ranch Road (Phase 1 and 2)
MCAS Tustin
1,132,918
1,132,918
Bonds
40,000
80,000
100,000
120,000
120,000
100,000
$ 560,000
4)
Contract for Environmental Services
11/02/2010
Vanderm ost Consulting
Regulatory Agency consulting
MCAS Tustin
2,311
2,311
Bonds
2,311
$ 2,311
5)
Section 1.2 of the"Second Amended Agreement for
06/19/2012
Successor Agency to the Tustin Community
The Oversight Board of the Successor Agency to the Tustin Community
MCAS Tustin
8,664,931
8,664,931
Bonds
1,000,000
1,200,000
1,600,000
2,000,000
2,864,931
$ 8,664,931
Reimbursement of Costs and City/Administrative Agency
Redevel opm ent Agency
Redevel opm ent Agency approved the adm inistrative budget on March 13, 2012 and
Operations Loan" between the Successor Agency and the City and
the Successor Agency adopted Successor Agency Resolution No. 12-04 on March
an Administrative Budget pursuant to California Health and Safety
20, 2012 approving the Administrative Budget and approved the "Agreement for
Code Section 341770).
Reim bu mem ent of Costs and City/Successor Agency Operations Loan". Thefirst
amendment to this agreement was subsequently approved on April 10, 2012 by the
Oversight Board of the Successor Agency and then approved by the Successory
Agency on April 17, 2012. The second amendment to this agreement was
subsequently approved on May 29, 2012 by the Oversight Board of the Successor
Agency. Health and Safety Code Section 34180 (e) specifically states that certain
successor agency actions shall first be approved by the Oversight Board, including
continuing the acceptance of federal or state grants, or other forms of financial
assistance from either public or private sources, where assistance is conditioned
upon the provision of matching funds, by the successor entity as successor to the
form er redevelopm ent agency in an am ount greater than 5 percent. The
Successory Agency subsequently approved the second amendment on June 19,
2012 which includes a matching contribution for Phase 1 and 2 of the Tustin Ranch
Road Project. The funds identified in this six-month period include the retention
amount for Phase 1 work that was completed. On June 19, 2012, the Successory
Agency approved the second amendment which includes a matching contribution
for Phase 1 and 2 of the Tustin Ranch Road Project. (This is not a duplication of
costs identified in Row #1 of Form C, which lists costs assigned to Section 1 A
of the "Second Amended Agreement for Reimbursement of Costs and
City/Successor Agency Operations Loan")
6)
Housing Tax Allocation Bonds, Series 2010 - Legal Services
various
City Attorney- Woodruff, Spradl in & Smart
project -specific legal services for bond -related activities identified in Row#1 of Form
All
Annual
100,000
Other
10,000
10,000
10,000
10,000
5,000
5,000
$ 50,000
A
7)
Payment in Lieu of Taxes Agreement- Flanders Pointe & Orange
various
City Attorney- Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in Rows
All
Annual
10,000
Other
3,000
2,000
$ 5,000
Gardens (Legal Services)
#10-11 of Form A
8)
Olson/Arbor Walk - Legal Services
various
City Attorney- Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in Rows
All
Annual
70,000
Other
12,500
7,500
5,000
5,000
5,000
$ 35,000
#12-13 of Form A
9)
Heritage Place DDA/Loan Agreement- Legal Services
various
City Attorney- Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in Rows
All
Annual
70,000
Other
4,000
4,000
9,000
9,000
9,000
$ 35,000
#14-15 of Form A
10)
Single and Multi -Family Rehabilitation Loans- Legal Services
various
City Attorney- Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in Row
All
Annual
20,000
Other
2,500
2,500
2,500
2,500
$ 10,000
#16 of Form A
11)
Town Center Housing Deficit Reduction Plan - Legal Services
various
City Attorney- Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in Row
Town Center
Annual
20,000
Other
5,000
2,500
2,500
$ 10,000
#17 of Form A
12)
Tax Allocation Refunding Bonds 1998 (Town Center) - Legal
various
CityAttorney- Woodruff, Spradlin & Smart
project -specific legal services for bond -related activities identified in Row#18 of
Town Center
Annual
100,000
Other
10,000
10,000
10,000
5,000
10,000
5,000
$ 50,000
Services
Form A
13)
Stevens Square Parking Garage Declaration of Covenants,
various
CityAttorney- Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in Row
Town Center
Annual
70,000
Other
5,000
10,000
5,000
5,000
5,000
5,000
$ 35,000
Conditions, Restrictions and Reservations - Legal Services
#22 of Form A
14)
Ambrose Lane/First Time Homebuyer - Legal Services
various
CityAttorney- Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in Rows
Town Center
Annual
60,000
Other
10,000
10,000
10,000
$ 30,000
#23-24 of Form A
15)
Tustin Grove - Legal Services
various
City Attorney- Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in Rows
South Central
Annual
40,000
Other
2,500
2,500
7,500
7,500
$ 20,000
#47-48 of Form A
16)
Tax Allocation Bonds- MCAS Tustin, Series 2010 (Legal Services)
various
City Attorney- Woodruff, Spradlin & Smart
project -specific legal services for bond -related activities identified in Row #49 of
MCAS Tustin
Annual
100,000
Other
10,000
10,000
10,000
5,000
5,000
10,000
$ 50,000
Form A
17)
Lease in Furtherance of Conveyance (LIFOC) executed May 13,
various
City Attorney- Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in Row
MCAS Tustin
Annual
100,000
Other
10,000
10,000
5,000
5,000
10,000
10,000
$ 50,000
2002 between the United States of America and the City of Tustin for
#52 of Form A
Portions of the Former Marine Corps Air Station Tustin - Legal
Services
18)
Lease in Furtherance of Conveyance (LIFOC) executed June 16,
various
City Attorney- Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in Row
MCAS Tustin
Annual
100,000
Other
5,000
10,000
10,000
15,000
5,000
5,000
$ 50,000
2004 between the United States of America and the City of Tustin for
#53 of Form A
Parcel 22 of the Former Marine Corps Air Station Tustin - Legal
Services
19)
Economic Development Conveyance (EDC) Application for Marine
various
City Attorney- Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in Row
MCAS Tustin
Annual
100,000
Other
5,000
5,000
15,000
15,000
10,000
$ 50,000
Corps Air Station (MCAS) Tustin as Amended - Legal Services
#54 of Form A
20)
Coventry Court Regulatory Agreement & Declaration of Restrictive
various
City Attorney- Woodruff, Spradlin & Smart
project -specific legal services for enforceable obligation activities identified in Row
MCAS Tustin
Annual
24,000
Other
3,000
3,000
3,000
3,000
$ 12,000
Covenants and Supplemental Regulatory Agreement- Legal
#64 of Form A
Services
$
$
Totals - LMIHF
N/A
$
$ 9,826,260
$ 10,810,260
N/A
$ 123,411
$ 1,167,000
$ 1,387,500
$ 1,814,500
$ 2,201 500
$ 3 051 431$
9 745 342
Totals - Bond Proceeds
N/A
$
Totals - Other
Grand total - This Pae
$ 9 826 260
$ 10 810 260
N/A
$ 123 411
$ 1 167 000
$ 1 387 500
$ 1 814 500
$ 2 201 500
$ 3 051 431
$ 9 745 342
* The Preliminary Draft Recognized Obligation Payment Schedule (ROPS) was to be completed by 3/1/2012 by the successor agency, and subsequently be approved by the oversight board before the final ROPS is submitted to the State Controller and State Department of Finance by April 15, 2012. It is not a requirement that the Agreed Upon Procedures Audit be completed before submitting the final
Oversight Approved ROPS to the State Controller and State Department of Finance.
** All total due during fiscal year and payment amounts are projected.
*** Funding sources from the successor agency: (For fiscal 2011-12 only, references to RPTTF could also mean tax increment allocated to the Agency prior to February 1, 2012.)
RPTTF - Redevelopment Property Tax Trust Fund Bonds - Bond proceeds Other - reserves, rents, interest earnings, etc
LMIHF- Low and Moderate Income Housing Fund Admin - SuccessorA enc Administrative Allowance
Name of Redevelopment Agency: Tustin Community Redevelopment Agency
Project Area(s) RDA Project Area All
SECOND AMENDED SECOND RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26 - Section 34177 (*)
FORM C -Administrative Cost Allowance Paid With Redevelopment Property Tax Trust Fund (RPTTF)
Payable from the Administrative Allowance Allocation ****
Total Outstanding
Total Due During
Fiscal Year
Funding
Payments by month
July 2012
Aug 2012
Sept 2012
Oct 2012
Nov 2012
Dec 2012
Total
Project Name / Debt Obligation
Payee
Description
Project Area
Debt or Obligation
2012-2013**
Source **
1)
Section 1.1 of the "Second Amended
Employees funded by the
Administrative Budget for employees, overhead &
All
292,125
292,125
Admin
48,690
48,690
48,690
48,690
48,690
48,675
$ 292,125
Agreement for Reimbursement of
Successor Agency that
legal services needed for direct administrative
Costs and City/Administrative Agency
perform Successor Agency
operation. The Oversight Board of the Successor
Operations Loan" between the
activites as needed for direct
Agency to the Tustin Community Redevelopment
Successor Agency and the City and an
administrative operations as
Agency approved the administrative budget on
Administrative Budget pursuant to
well as overhead and legal
March 13, 2012 and the Successor Agency
California Health and Safety Code
services.
adopted Successor Agency Resolution No. 12-04
Section 34177 (j) (including salary and
on March 20, 2012 approving the Administrative
benefits funded by the Successor Agency
Budget and approved the "Agreement for
and administrative costs. Administrative
Reimbursement of Costs and City/Successor
costs include the agreement with
Agency Operations Loan". The first amendment to
Woodruff, Spradlin & Smart $200,000 for
this agreement was subsequently approved on
administrative legal services and the
April 10, 2012 by the Oversight Board of the
Lease of Office Space $43,900)
Successor Agency and then approved by the
Successory Agency on April 17, 2012. The second
amendment to this agreement was subsequently
approved on May 29, 2012 by the Oversight Board
of the Successor Agency and then approved by the
Successory Agency on June 19, 2012. This
amount will fluctuate annually. The Adminstrative
Budget was calculated in accordance with
California Health and Safety Code Section
34171(b), 3% of the property tax allocated to the
Redevelopment Obligation Retirement Fund that is
allocated to the Successor Agency for FY 2012-
2013. (This is not a duplication of costs
identified in Row #5 of Form B, which lists
costs assigned to Section 1.2 of the "Second
Amended Agreement for Reimbursement of
Costs and City/Successor Agency Operations
Loan")
2)
Contract for Legal Services
City Attorney - Woodruff,
Legal counsel - public law & specialty legal council
All
Actual expenses
Actual expenses
Admin
Spradlin & Smart (including
as needed to directly support administrative
were included in
were included in
Stradling Yocca Carlson &
activities. Woodruff, Spradlin & Smart also
the Administrative
the Administrative
Rauth, Remy, Thomas, Moose
provides legal services under direct project
Budget - Row #1
Budget - Row #1
& Manley, Waters & Company,
services and these costs are not double -counted
and Jeanette Justus)
between administrative -related legal expenses and
project -related legal expenses.
3)
Lease of Office Space
PK II Holdco, LLC
Office space rent
All
Actual expenses
Actual expenses
Admin
were included in
were included in
the Administrative
the Administrative
Budget - Row #1
Budget - Row #1
$
4)
Auditing Services
White, Nielson, Diehl, Evans,
Auditing of annual Agency expenditures
All
Actual expenses
Actual expenses
Admin
LLP
were included in
were included in
the Administrative
the Administrative
Budget - Row #1
Budget - Row #1
Totals - This Pae
$ 292,125
1 $ 292,125
$ 48,690
$ 48,690
$ 48,690
$ 48,690
$ 48,690
$ 48,675
$ 292,125
* The Preliminary Draft Recognized Obligation Payment Schedule (BOPS) is to be completed by 3/1/2012 by the successor agency, and subsequently be approved by the oversight board before the final BOPS is submitted to the State Controller and State Department of Finance by April 15, 2012. It
is not a requirement that the Agreed Upon Procedures Audit be completed before submitting the final Oversight Approved BOPS to the State Controller and State Department of Finance.
** All total due during fiscal year and payment amounts are projected.
*** Funding sources from the successor agency: (For fiscal 2011-12 only, references to RPTTF could also mean tax increment allocated to the Agency prior to February 1, 2012.)
RPTTF - Redevelopment Property Tax Trust Fund Bonds - Bond proceeds Other - reserves, rents, interest earnings, etc
LMIHF - Low and Moderate Income Housing Fund Admin - Successor Agency Administrative Allowance
**** - Administrative Cost Allowance caps are 5% of Form A 6 -month totals in 2011-12 and 3% of Form A 6 -month totals in 2012-13. The calculation should not factor in pass through payments paid for with RPTTF in Form D.
Agenda Item 6
AGENDA REPORT
Oversight Board of the Successor Agency of the
Tustin Community Redevelopment Agency
MEETING DATE: MAY 29, 2012
SUBJECT/ACTION: 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 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.
BACKGROUND
Agenda Report
May 29, 2012
Page 2
At the Oversight Board meeting of March 13, 2012, the Oversight Board reaffirmed the
former Tustin Community Redevelopment Agency's previous award of the Tustin Ranch
Road Project Phase 1 Grading and Storm Drain Work and Authorized the Successor
Agency to award the Tustin Ranch Road project Phase 2 Roadway Improvements
Construction Contract (CIP Nos. 70100, 70203, 70206, 70214 & 70215). Despite the
review period provided for Oversight Board actions, the State of California Department
of Finance ("DoF") did not request a specific review of this Oversight Board action.
However, in its later review of the First Amended Initial ROPS (January -June 2012) and
the Second ROPS (July through December 2012), DoF required that the Successor
Agency remove the Tustin Ranch Road Phase I and Phase 2 projects from both ROPS.
While each ROPS has been amended to reflect DoF's removal request, under protest
with all rights reserved, the primary funding source for both phases of the Tustin Ranch
Road project, the MCAS 2010 Tax Allocation Bond proceeds ("MCAS Tustin Bond
Proceeds") were specifically intended to be used for the purposes identified in the
Official Statement. Further, it was always the intended purpose that the bond proceeds
be used as a match specifically from other public or private sources, with assistance a
condition of availability and provision of the matching funds, by the Successor Agntity as
successor to the former Tustin Community Redevelopment Agency.
Health and Safety Code Section 34180 (e) specifically states that certain successor
agency actions shall first be approved by the Oversight Board, including:
"(e) Continuing the acceptance of federal or state grants, or other forms of
financial assistance from either public or private sources, where assistance is
conditioned upon the provision of matching funds, by the successor entity as
successor to the former redevelopment agency in an amount greater than 5
percent. "
The Tustin Ranch Road Project is a critical Tustin Legacy Backbone Infrastructure
Program improvement for which assistance has been conditioned upon the provision of
matching funds from the 2010 MCAS Tustin Tax Allocation Bonds with the approval of
the project in the City's capital improvement program, and particulary as it relates to the
regional grant funds, and the other assistance from public and private sources being
that are being applied to the project.
More specifically, both the Phase 1 and Phase 2 Projects were conditioned upon the
receipt of private developer funds including developer contributions to the Tustin Legacy
Backbone Infrastructure Program (the Tustin Legacy Backbone Infrastructure Program,
as adopted, required, that 2010 MCAS Tustin Tax Allocation Bonds be available
towards the Tustin Legacy Backbone Infrastructure Program improvements, more
specifically Tustin Ranch Road as a match to developer contributions to the program),
Agenda Report
May 29, 2012
Page 3
private utility reimbursements (IRWD), Community Facility District Funds, and other
Measure M2 Regional Capacity Program (RCP) -Project O and Proposition 1B State -
Local Partnership Program (SLPP) grant funds and OCTA and grant funds.
Furthermore, the OCTA and Grant Fund application for the project anticipated the use
of the MCAS Bond Proceeds.
The local match component for the Successor Agency related to the Tustin Ranch Road
Improvements was identified through the various funding programs described above,
and adopted with specific appropriations and CIP and other budget authorizations:
Public and Private Financial Assistance
and Matching Funds Required for Tustin Ranch Project.
Funding Sources
Phase 1
Phase 2
Developer Funds (Fund 200)
$210,466
$3,100,000
City of Irvine
4,500,000
IRWD
2,400,000
M2/SLLP
9,000,000
MCAS Tustin Bond Proceeds (Fund 561)
$5,983,863
8,164,931
CFD 06-01 (Fund 434)
$9,481,863
Totals
$15,676,192
$27,164,931
Pending resolution of DoF issues related to Tustin Ranch Road on the ROPS, the City
anticipates entering into the contract for Phase 2 of the Tustin Ranch Road Project as
identified in the Oversight Board's Agenda item #6 dated March 13, 2012 (which is
attached). The Successor Agency is requesting that the Oversight Board approve the
acceptance of the MCAS 2010 Tustin Tax Allocation Bonds as the matching source for
the Successor Agency's contribution to state, and other forms of financial assistance
from both public and private sources, which are being used to finance both Phase 1 and
2 of the Tustin Ranch Road Project (in an amount greater than 5% of the project costs).
To ensure disbursement of the 2010 MCAS Tustin Tax Allocation Bonds for the required
project match and its reimbursement to the City (as the "contracting party" for the
Project), the Successor Agency and City will also need to enter into a reimbursement
agreement. Health and Safety Code Section 34180 (h) requires Oversight Board
approval of a request by the Successor Agency to enter into an agreement with the City.
It is intended that the Reimbursement Agreement would identify the total match required
of 2010 MCAS Tustin Tax Allocation Bonds proposed to be used for each Phase of the
Tustin Ranch Road Roadway Improvements.
Agenda Report
May 29, 2012
Page 4
Staff will be available to respond to any questions on this matter that the Oversight
Board may have. I
Ll
r f G41, V,
r
Christine Shinglryetory Do`u lay 0. Stack, P.E.
Assistant Executive irector P ' 1N rks Director/City Engineer
Attachment 1: Oversight Board Agenda Item No. 6 dated March 13, 2012
Attachment 1
Agenda Item -___6._____
AGENDA REPORT
Oversight Board of the Successor Agency of the
Tustin Community Redevelopment Agency
MEETING DATE: MARCH 13, 2012
SUBJECT/ACTION: OVERSIGHT BOARD REAFFIRMATION OF TUSTIN
COMMUNITY REDEVELOPMENT AGENCY'S PREVIOUS
AWARD OF THE TUSTIN RANCH ROAD PROJECT PHASE I
GRADING AND STORM DRAIN WORK AND
AUTHORIZATION FOR SUCCESSOR AGENCY TO AWARD
THE TUSTIN RANCH ROAD PHASE 2 ROADWAY
IMPROVEMENTS CONSTRUCTION CONTRACT (CIP NOS.
70100, 70204, 70206, 70214 & 70215)
RECOMMENDATION / PROPOSED ACTION
1. Reaffirm the Agency's previous July 19, 2011 award for the construction contract for
Tustin Ranch Road Grading and Storm Drain Project (CIP No. 70100 and 70206)
pursuant to the adopted Enforceable Obligations Schedule (EOPS) and draft
Recognized Obligation Schedule (ROPS) utilizing MCAS Tustin 2010 Tax Allocation
Bond Proceeds for their intended use.
2. Authorize the Successor Agency to award the construction contract for the Tustin
Ranch Road Phase 2 Roadway Improvements (CIP Nos. 70100, 70204, 70206,
70214, & 70215) from Walnut Avenue to Warner Avenue to the lowest
responsive/responsible bidder, R.J. Noble Company, pursuant to the adopted
Recognized Obligation Payment Schedule (ROPS) utilizing MCAS 2010 Tax
Allocation Bond Proceeds for their intended use.
(Note that the above actions by the Oversight Board (Board) shall not become effective
for three business days, pending any request for review by the California Department of
Finance (DoF). If DoF requests review of this Board action, it shall have 10 days from
the date of its request to approve the 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).
BACKGROUND
On August 2, 2011, the City Council and the Tustin Community Redevelopment Agency
awarded the construction contract for the Tustin Ranch Road Phase 1 Grading and
Agenda Report
March 13, 2012
Page 3
specialized nature of construction and the complexity of scheduling required for
construction, including the deep IRWD underground utility improvements in the vicinity
of ongoing Navy groundwater clean-up operations near the southerly Navy Hangar and
the elevated bridge crossing over Edinger Avenue, SCRRA railroad tracks, and the
Santa Ana/Santa Fe Channel. On August 25, 2011, the City received submittals under
the pre -qualification process from twelve general contractors. Subsequently, on
October 4, 2011, ten (10) general contractors were approved by the City and the
Agency as qualified bidders for Phase 2.
Again, Phase 2 of this project involves construction of the remaining underground utility
work, sound walls, and street and landscape improvements, including the Edinger
Avenue/Railroad/Flood Control Channel bridge overcrossing.
Five (5) formal bids were received from the pre -qualified list of potential bidders and
were publicly opened on February 28, 2012 and reviewed by the Public Works
Department. These five bids are summarized below in order of least to highest dollar
amount:
• R.J. Noble Company ................................................... $ 22,649,304.73
• Griffith Company ........................................................ $ 22,654,500.00
• C.C. Myers, Inc .......................................................... $ 23,707,949.30
• Flatiron West .............................................................. $ 23,991,560.00
• Shawnan .................................................................... $ 24,544,387.80
It is recommended that the Oversight Board authorize the Successor Agency to award
the construction contract for the Tustin Ranch Road Phase 2 Roadway Improvements
Construction Project (CIP Nos. 70100, 70204, 70206, 70214, & 70215) from Walnut
Avenue to Warner Avenue to the lowest responsive/responsible bidder, R.J. Noble
Company, in the amount of $22,649,304.73 and use, among other funds, MCAS 2010
Tax Allocation Bond Proceeds intended for such use. —
Christine A. Shing) n
Assistant ExecutivrDuirector
Successor Agency of the
Tustin Community Redevelopment Agency
I
pouglao Stdck, P. E.
it cta t:f -Public Works/City Engineer
ccessor Agency of the
S'
Tustin Community Redevelopment Agency
MEETING 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
r
��P a]m e I la
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
Juiy 1, 2012 through December 31, 2012
Object Position Percent to Total FY - Admin February thru lune
Code in Costs 2012 5 Months
1 Estimated Property Tax allocated to Successor Agency for FY
2011/12 $ 20,413,629
2 LESS Estimated Pass -Throw hs 2,"5,071
LESS DoF Disallowed Items: 5, 9, 10 13 & 59 -1st Amend ROPS 1701 372
3 Estimated Property Tax allocated to Successor Agency Less Pass -
4 Administrative Cost Allowance for FY 1
PEEM�PENSES
EMPLOYEE DETAILS
Object Position fiscal Year -Total Wages, Percent to Total FY - Admin February thru June
C04:10 IgnefIts and Workers Admin Costs 2012 5 Months
1 5000
2 5000
3 5000
4 5000
5 5000
6 5000
7 5000
Assistant Executive Director
109,529
3096
32,859
27,393
Finance Director
232,809
11%
2S,609
11,640
Program Mana er #1
160,840
25%
40,210
16,755
Program Mana er #2
157,027
75%
39,257
16,355
Prolect Manaiter
123 778
0%
91990
100
-Management Anal st
86,689
0%
CITY ADMINISTRATIVE SUPPORT COSTS BASED ON COST ALLOCATION (ATTACHED)
Administrative Secreta
73,522
100%
73,522
30,635
Sub -Total Wages, Benefits and WC; $ 944,1141 $ 211,4571 $ 102,768
CM111A0NNINI5TRA=9 DUB[C1".COSTS
Code
Item
Total During Fiscal Year
2011112
Percent to
Admin
Total FY- Admin
Costs
February thru June
2012 5 Months
1 6147
Bank Service Charges
7,600
100%
7,600
3,000
2 6355
3 6400
4 6415
5 6420
6 6710
7 6715
8 6730
9 6840
10 6845
31 6848
Telephone
Office Supplies
Mall and Postage Service
Printing
Meetings {staff)
Training Expense
Membership/Subscriptions
Vehicle Mileage
Vehicle Lease Equipment
IT Support Services
Sub -Total Admin Cost Allowances: $
4,800
5,200
1,600
9,000
5,400
3,400
11,500
200
6,800
36,500
92,000
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
4,800
5,200
1,600
91000
5,400
3,400
11,500
200
6,800
36,5010
$ 92,000
2,035
1,890
510
1,300
11040
800
91990
100
0
15,208
$ 35,873
CITY ADMINISTRATIVE SUPPORT COSTS BASED ON COST ALLOCATION (ATTACHED)
object
Code
Item
Total During Fiscal Year
Total FY - Admin
February thru June
2012 IS Months
I
City Administrative Support Casts
based on Cost Allocation
829,483
100' 0
829,483
$ 345,618
CITY ATTORNEY (contract services)
Object
Code
Description of Services
Total During Fiscal Year
2011/12
Percent to
Admin
Total FY - Admin
Costs
February thrtr June
2012 (S Months)
6017
City Attorney's Office - Woodruff, $
Spradlin & Smart (Including: Stradling
Yocca Carlson & Rauth; Remy, Thomas,
Moose & Manley, Waters & Company,
Jeanette Justus) and the following
Special Counsel firms: 1) Armbruster
Goldsmith & Deivac LLP; 2)Cappello
and Noel LLP, and 3) Kutak Rock.
960,000
15% } 720,000
$ 300,000
Sub -Total City Attorney: $
960,000
$ 720,000
$ 300,000
SPECIFIC SERVICES (3rd Revised EOPS and Draft BOPS)
Object
Code
Description
Total During Fiscal Year
2011/12
Percent to
Admin
Total FY - Admin
Costs
February thru June
2012 (5 Months)
1 5315
Lease of Office Space
it+,aS3,
100/
$ 49,497
19,100
2 6014
Auditing Services
IC,000
100%
$ 10,000
101000
Sub -Total Specific Services: $
59,497
5 59,497
S 29,100
TOTAL ADMINISTRATIVE SERVICE COSTS
Percent to
Admin
Total PY - Admin
Costs
February thru June
2012 (5 Months)
TOTAL ADMINISTRATIVE SERVICE COSTS
$ 1,912,437
$ 813,359
BUDGET- REVENUES (SURPLUS)/EXPENSES{DEFICIT)
$ -
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BUDGET FOR ADMINISTRATIVE
,SUCCESSOR AGENCY TO THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY REVENUES
ObJect Position
Code
Percent to Total FY - Admin
Admin casts
July thru Dec 2012
1 Enforceable Obligations Paid with Redevelopment Property
Tax Trust Fund
(LESS) Disallowed Items: 5,9,65
Estimated roperty Tax allocated o
Successory Agency less disallowed
items
4 Administrative Cost Allowance for FY 12/13
$ 12,769,835
10,246,015
Bank Service Charges
Telephone
Office Supplies
Mail and Postage Service
Printing
Meetings (staff)
Training Expense
Membership/Subscriptions
Vehicle Mileage
Vehicle Lease Equipment
IT Support Services
Sub -Total Admin Cost Allowances:
508,500
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
9,737,515
3% $ 383,095
292 125
2,600
800
ESTIMATED EXPENSES
EMPLOYEE DETAILS
Object Position Fiscal Year - Totall Percent to Total FY - Adminj July thru Dec 2012
Sub -Total Wages, Benefits and WC: $ -) $ -j $
OTHER ADMINISTRATIVE DIRECT COSTS
Object
Code
Item
Total During Fiscal
Year 2012/13
Percent to
Admin
Total FY - Admin
Costs
July thru Dec 2012
1 6147
2 6355
3 6400
4 6415
5 6420
6 6710
7 6715
8 6730
9 6840
10 6845
11 6848
Bank Service Charges
Telephone
Office Supplies
Mail and Postage Service
Printing
Meetings (staff)
Training Expense
Membership/Subscriptions
Vehicle Mileage
Vehicle Lease Equipment
IT Support Services
Sub -Total Admin Cost Allowances:
3,000
4,800
5,200
1,600
9,000
0
0
01
200
6,800
36,500
$ 67,100
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
3,000
4,800
5,200
1,600
9,000
0
0
0
200
6,800
36,500
$ 67,100
1,500
2,400
2,600
800
4,500
0
0
0
100
3,400
18,250
$ 33,550
CfrY ADMINISTRATIVE SUPPORT COSTS BASED ON COST ALLOCATION {ATTACHED)
Object
Code
Item
Total During Fiscal
Year, 2012/13
Total FY - Admin
Costs
July thru Dec 2012
1
City Administrative Support Costs
based on Cost Allocation
836,000
8.6%
72,095
$ 66,598
CITY ATTORNEY (contract services)
Object
Code
Description of Services
Total During Fiscal
Year 2012/23
Percent to
Admin
Total FY - Admin
Costs
July thru Dec 2012
6017
City Attorney's Office - Woodruff,
5pradlin & Smart (Including: Stradling
Yocca Carlson & Rauth; Remy, Thomasr
Moose & Manley, Waters & Company,
Jeanette Justus). This does not include
legal services from the following firms
that are associated with project costs:
11 Armbruster Goldsmith & Delvac LLP;
2)Cappello and Noel LLP, and 3) Kutak
Rock.
Sub -Total City Attorney:
$ 200,000
$ 200,000
100% $ 200,000
S 170,027
$ 200,000
$ 170,027
SPECIFIC SERVICES (3rd Revised EDP$ and Ora* BOPS)
Object
Code
Description
Total During Fiscal
Year 2012/13
Percent to
Admin
Totaf FY •Admin
Costs
July thru Dec 2012
1 6315
Lease of Office Space
Sub -Total Specific Services:
$ 43,900
$ 43,900
200%
$ 43,900
21,950
$ 43,900
$ 21,950
TOTAL ADMINISTRATIVE SERVICE COSTS
Percent to
Admin
Total FY -Admin
Costs
July thru Dec 2012
TOTAL ADMINISTRATIVE SERVICE COSTS
$ 383,095
$ 292,125
BUDGET- REVENUES (SURPLUS)/EXPENSES (DEFICIT)
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 / q, 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 Ace,).
D. On December 29, 2011, California Redevelopment Association, et al. v. Matosantos,
Case No. 5144861, 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 1
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 1 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:
"1. 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 ROPS.
1.2 Reimbursement of Phase 1 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 1 and Phase 2 Tustin Ranch Road
Improvements Project to be disbursed from MCAS Tustin 2010 Tax Allocation Bond
proceeds to the City upon the effective date of this Agreement. The required match from the
MCAS 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, for a 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 1, 2012 through
December 31, 2012; and 2) January 1, 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 RODS."
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 duty authorized on the date first above written.
"CITY"
CITY OF TUST a i i unicipal corporation
By:77M
John Nielsen, Mayor
ATTEST:
Pamela Stoker, City Clerk
AS
David Kendig, City Attorney
<Additional Signatures Follow on Next Page.>
Page 4
"CITY SUCCESSOR AGENCY"
SUCCESSOR AGENCYTP IVETUSTIN
COMMUNITY,RE VEL P NT AGENCY
IN
ATTEST:
Pamela Stoker, City Clerk
on behalf of the Successor Agency
David Kendig, Legal
Agency Chairman
Page 5