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Home My WebLink About18-01 (Obligation Payment Schedule 18-19 "ROPS") OVERSIGHT BOARD RESOLUTION NO. 18-01 A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE 1819 ("ROPS 18-19") 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 tc 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 Successor Agency and otherwise unwind the Successor Agency's affairs, all subject to the review and approval by the seven- member Oversight Board formed thereunder; and G. Pursuant to Section 34179, the Successor Agency's Oversight Board has been formed and the initial meeting has occurred on March 13, 2012; and H. Section 34179(e), as amended by Assembly Bill 1484 ("AB 1484"), requires all actions taken by the Oversight Board to be adopted by resolution; and Oversight Board Resolution 18-01 Page 1 of 3 I. On January 16, 2018, the Successor Agency approved the Recognized Obligation Payment Schedule 18-19 ("ROPS 18-19") for the period of July 1, 2018 through June 30, 2019; and J. The Oversight Board has duly considered all other related matters and has determined that the Board's approval of ROPS 18-19 and submission to the California Department of Finance is in the best interests of the City and Agency and in the health, safety, and welfare of its 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 ROPS 18-19 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. Section 3. The Executive Director of the Successor Agency or his authorized designee is directed to post this Resolution on the City/Successor Agency website. Section 4. This Resolution adopted by the Oversight Board shall become effective no later than forty-five {45} business days after submission to the DoF, pending a review by the DoF. Within five business days of the DoF's determination, the Successor Agency can request additional review by the DoF and an opportunity to meet and confer on disputed item s, Section 5. The Secretary of the Oversight Board shall certify to the adoption of this Resolution. APPROVED AND ADOPTED this 23rd day of January, 2018. Doug Dave4, Ch an Oversight Board o�the Successor Agency to the Tustin Community Redevelopment Agency ATTEST: Charles E. "Chuck" Puckett, Secretary Oversight Board of the Successor Agency to the Tustin Community Redevelopment Agency Oversight Board Resolution No. 1 M1 Page 2 of 3 STATE OF CALIFORNIA ] COUNTY OF ORANGE }SS CITY OF TUSTIN } I, CHARLES E. "CHUCK" PUCKETT, 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. 18-01 was duly passed and adopted at a regular meeting of the Oversight Board, held on the 231d day of January, 2018, by the following vote: BOARD MEMBER AYES: Opel, Puckett, Bernstein, Piguee, Soria (5) BOARD MEMBER NOES: 0 BOARD MEMBER ABSTAINED: BOARD MEMBER ABSENT: Davert Charles E. "Chuck" Puckett, Secretary Oversight Board of the Successor Agency to the Tustin Community Redevelopment Agency Attachment No. 1 — Recognized Obligation Payment Schedule 18-19 (July 2018 —June 2019) Oversight Board Resolution 18-01 Page 3 of 3 ATTACHMENT NO. 1 RECOGNIZED OBLIGATION PAYMENT SCHEDULE 18-19 (July 2918 —June 2019) Recognized Obligation Payment Schedule(RODS 18.19)-Summary Filed for the July 1,201 d through June 30,2019 Penod Successor Agency: Tustin Courcy. Omnile 18-19A Total 1B-19B Total Current Period Requested Funding for Enforceable Obligations(ROPS Detail) (July-December) (January-June) ROPS 1B-19 Total A Enforceable Obligations Funded an Fell—JB+C+D): $ 1,588,900 $ - $ 1,588,900 B Bond Proceeds - - C Reserve Balance - D Other Funds 1,588,900 - 1,588,900 E Redevelopment Property Tax Trust Fund(RPTTF)(F+O): $ 1,430.413 $ 1,161,863 $ 2,592,276 F RPTTF 1,305413 1,036.863 2,342,276 G Administrative RPTTF 125,000 125,000 250,000 H Current Period Enforceable Obligations IA+E): $ 3,019,313 $ 1 161 863 $ 4,181,176 Certification of(Nersght Board Chairman IIVI I 1 Y Pursuant to Section 34177(01 of the Health and Safety code. hereby N e T e cerafy that the above is a true and awurale Recognized Obligation Payment Schedule for the above named successor agency !sf 8 Signature - Date i r . Tustin Recognized Obligation Payment Schedule(ROPS 18.19)-Report of Cash Balances July 1,2015 through June 30,2016 (Report Amounts in Whole Dollars) Pursuant to Health and Safety Code section 34177(1),Redeveluprnent Property Tax Trust Fund(RPTTF)may be listed as a source of payment on the ROPS.but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obligation.For tips on how to complete the Report of Cash Balances Form,see Cash Balance Tips Sheet p B C D E I F G H Fund Sources Bond Proceeds Reserve Balance Other RPTTF Prior ROPS period balances Prior ROPS and RPTTF Bonds issued on Bonds issued on DDR RPTTF distributed as Rent, Non-Admin Cash Ralance Information for ROPS 15-16 Actuals or before or after balances reserve for future grants, and 07101115-D6130116 12/31/10 01101111 retained periods interest,etc. Admin Comments 1 Beginning Available Cash Balance(Actual 07!01/151 5,052,523 537,078 2 Revenueancome(Actual 06130116) RPTTF amounts should tie to the ROPS 15-16 total distribution from the County Auditor-Coni during June 2015 and January 2016, 4,182,310 893,703 RPTTF distribution received during January 2016 3 Expenditures for ROPS 15.16 Enforceable Obligations(Actual 06130116) RPTTF authorized obligations 8 ROPS 14-15B 6.675.628 976,042 prior period adjustment 4 Retention of Available Cash Balance(Actual 06130116) RPTT F amount retained should only include the amounts distributed as reserve for future penogs) 5 ROPS 15-16 RPTTF Balances Remaining No entry required 6 Ending Actual Available Cash Balance(06130116) C toG=(1+2-3-4),H=(i+2-3-4+5) S - $ - S - S - $2,559,205 E 454.739