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HomeMy WebLinkAboutED ROPS; 2014 Jan - JuneSAN RAFAEL SUCCESSOR AGENCY AGENDA ITEM NO.: MEETING DATE: August 5, 20 13 Department: Economic Development Prepared by: Stephanie Lovette��Executive Director Approval: Economic Development Manager SUBJECT: Resolution of the City Council of the City of San Rafael in the City's Capacity as Successor Agency of the San Rafael Redevelopment Agency, Approving a Recognized Obligation Payment Schedule for the Period January through June 2014 Prepared Pursuant to Health and Safety Code Section 34177(1), and Directing the City Manager or the City Manager's Designee to Take All Action Necessary and Appropriate on Behalf of the City as Successor Agency under the Community Redevelopment Law in Connection With the Approved Recognized Obligation Payment Schedule. RECOMMENDATION: Adopt the attached resolution. OVERVIEW: The California State Legislature enacted Assembly Bill ABx1 26 (the "Dissolution Act") to dissolve redevelopment agencies formed under the Community Redevelopment Law. The California Supreme Court in its decision in Califi-nia Redevelopment o Association v. Matosantos i, issued December 29, 2011 (the "Supreme Court Decision"), declared the Dissolution Act to be constitutional. Under the Dissolution Act, all California redevelopment agencies were dissolved effective February 1. 2012, and various actions are now required by successor agencies to unwind the affairs of all former redevelopment agencies. BACKGROUND AND DISCUSSION: On January 3, 2012, the City Council of the City of San Rafael (the City Council") adopted a resolution accepting for the City the role of successor agency (the "Successor Agency") to the Redevelopment Agency of the City of San Rafael (the "Redevelopment Agency"). An oversight board (the "Oversight Board"'), consisting of members representing the County, the City, and various education and special districts, was formed to approve and direct certain actions of the Successor Agency. The actions of the Oversight Board must be approved by the California Department of Finance. The Successor Agency staff is required to prepare a Recognized Obligation Payment Schedule ("ROPS") and an administrative budget every six months for Oversight Board approval. The Z___ RODS must include all Agency obligations for the subsequent six-month period. File N o. -. Agency Meeting: L-1 zn Disposition: Page 2 of 2 The Oversight Board has met eight times in the past two years, and approved BOPS I-IV and the accompanying six-month administrative budgets. The Oversight Board met on August 2, 20131 to consider BOPS V (13-14 B) and the administrative budget for January- June 2014. The Statue sets forth the ROPS submittal dates and the BOPS payment dates, as shown on the accompanying chart. The County of Marin follows a different schedule. The County provides the Agency funds for the Agency bond payments every November and May. The County provides the Agency with the funds for the remaining approved obligations from both RODS A and B on June 1. BOPS Period OB Approved and Statutory Payment Marin County Transmitted to State Date Payment Date A July — December March I June I June I B January — June October I January 2 June I FISCAL IMPACT: The Statue allows Successor Agencies to receive tax increment for administrative costs. The Law allowed a minimum of $250,000 per year, with a slightly higher allowance in the initial year. The Oversight Board approved an administrative budget of $244,878 for the five-month period of February 2012 -June 2012 and has subsequently approved $125.,000 per six-month period. The Agency has received the statutory administrative fund allowance through the 2012-13 calendar year. The County plans to fund the 2013-14 allowance on June 2, 2014. To date, the Oversight Board and the State have approved all of the required annual payments for the Agency's obligations including- • Bond payments • Payment to the San Rafael High School District in the annual amount of $179,000 • Pension obligations for former Agency employees in an amount of $1,904,431 to be paid %_1 over ten years 0 Retiree health costs (OPEB) obligations for former Agency employees in the amount of $502,000 to be paid over nine years 9 Administrative costs of $125,000 per six-month period 0 $10,,000 annually for the required bond disclosure documents The Oversight Board also approved a one-time payment of a $299,489 loan from the City to the Agency. This loan repayment was listed on RODS III and was paid in June 2013. OPTIONS, • Adopt the Resolution approving RODS 13-14 B. • Modify the Resolution approving the ROPE 13-14 B. • Request further information. • Reject the staff recommendation. ACTION REQUIRED.- Staff recommends that the Successor Agency adopt the Resolution. Z__ EXHIBITS: Exhibit A.- ROPE 13-14 B RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAFAEL IN THE CITY'S CAPACITY AS SUCCESSOR AGENCY OF THE SAN RAFAEL REDEVELOPMENT AGENCY, APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD JANUARY THROUGH JUNE 2014 PREPARED PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177(L), AND DIRECTING THE CITY MANAGER OR THE CITY MANAGER'S DESIGNEE TO TAKE ALL ACTIO1ti1 NECESSARY AND APPROPRIATE ON BEHALF OF THE CITY AS SUCCESSOR AGENCY UNDER THE COMMUNITY REDEVELOPMENT LAW IN CONNECTION WITH THE APPROVED RECOGNIZED OBLIGATION PAYMENT SCHEDULE WHEREAS, the California state legislature enacted Assembly Bill x I 26 (the "Dissolution Act") to dissolve redevelopment agencies farmed under the Community Redevelopment Law (Health and Safety Code Section 33,000 et seq.), and WHEREAS, on January 3, 2012 and pursuant to Health and Safety Code Section 34173, the City Council of the City of the City of San Rafael (the "City Council") declared that the City of San Rafael, a municipal corporation (the "City"), would act as successor agency (the "Successor Agency") for the dissolved Redevelopment Agency of the City of San Rafael (the "Former RDA") effective February 1, 2012; and WHEREAS, on February 1, 2012, the Former RDA was dissolved pursuant to Health and Safety Code Section 34172; and WHEREAS, the Dissolution Act provides for the appointment of an oversight board (the "Oversight Board") with specific duties to approve certain Successor Agency actions pursuant to Health and Safety Code Section 34180 and to direct the Successor Agency in certain other actions pursuant to Health and Safety Code Section 34181; and WHEREAS, on January 30, 2012, the Former RDA adopted an enforceable obligation payment schedule (the "RDA FOPS") as required pursuant to Health and Safety Code Section 34169(g); and WHEREAS, on June 18, 2012, the Successor Agency approved an Amended E PS for the period of August -December 2011 and approved a Second Amended FOPS for the period of January -July '2012-, and WHEREAS, the ROPS and the Successor Agency Administrative Budget must be approved by the Oversight Board pursuant to Health and Safety Code Sections 34177(j)'�2 {B: and 34177, respectiv elv: and N,'H AREAS. the Oversight Board has approved ROPS 1 -IV including the Successor Agency AdministratiN-e Budgets pursuant to health and Safety Cade Sections _ 4177 :1 2) :B and 34177(1 ). r espectiv elf - and WHEREAS, the Successor Agency provided the approved First, Second, Third, and Fourth BOPS to the State Department of Finance, the County of Marin and posted the document on the City's website; and WHEREAS, on May 22, 2012, the CA Department of Finance approved the actions of the Oversight Board and the First and Second RODS; and WHEREAS, on October 15, 2012, the CA Department of Finance approved the actions of the Oversight Board and the "Third ROPE, and WHEREAS, on April 19, 2013, the CA Department of Finance approved the actions of the Oversight Board and the Fourth (13-14 A) RODS; and WHEREAS, the Oversight Board is scheduled to review the Agency's fifth ROPS ("ROPS 13-14 B") on August 2, 2013, NOW, THEREFORE, BE IT RESOLVED that the City Council, acting as the Governing Board of the Successor Agency, hereby approves BOPS 13-14B and the Successor Agency Administrative Budget for January -December 2014, which contains the Successor Agency Administrative Cost Estimates. Copies of the BOPS 13-14B and the Successor Agency Administrative Budget are on file with the City Clerk, BE IT FURTHER RESOLVED that the City Council, acting as the Governing Board of the Successor Agency, hereby authorizes and directs the City Manager or the City Manager's designee, acting on behalf of the Successor Agency, to take other actions pursuant to this Resolution. BE IT FURTHER RESOLVED, that this Resolution shall take immediate effect upon adoption. 1, Esther C. Beirne, Secretary to the Successor Agency, hereby certify that the foregoing Resolution was duly and regularly introduced and adopted at a regular meeting of the San Rafael Successor Agency, held on Monday, the fifth day of August 2013, by the following vote, to wit: V� AYES: Members: Colin, Connolly & Vice -Chair Heller NOES: Members: None ABSENT-. Members: McCullough & Chairman Phillipi Esther C. 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DATE OF MEETING: Auqust 5, 2013 FROM: Stephanie Lovette 1 DEPARTMENT: Economic Developmenr DATE: July 29, 2013 ij TITLE OF DOCUMENT.--.{_ �:o-� ka} Resolution of the City Council of the City of San Rafael In the City's Capacity as Successor Agency of the San Rafael Redevelopment Agency, Approving a Recognized Obligation Payment Schedule for the Period January throughJune2014 Prepared Pursuant To Health and Safety Code Section 34177(l), and Directing the he City Manager's Designee To Take All Action Necessary and Appropriate On Behalf of City ManageEl,�`O' tie the City as Successor Agency, Under the Community Redevelopment Law In Connection With the Approved Recognized Obligation Payment Schedule Department Head (signature) (LOWER HALF OF FORM FOR APPROVALS ONLY) APPROVED AS COUNCIL 1 AGENCY APPROVED AS TO FORM: AGENDA ITEM: jYet 4 ef, City Manager (signature) City Attorney (signature) I R T A. A. a =022 4W = 9 REMARKS: s.. "At,