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HomeMy WebLinkAbout2012-04-10 OB Agenda Item No. 6OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE TO: MEMBERS OF THE OVERSIGHT BOARD FROM: BARBARA LEIBOLD, SUCCESSOR AGENCY COUNSEL DATE: APRIL 10, 2012 SUBJECT: APPROVAL OF RESOLUTION ADOPTING RECOGNIZED OBLIGATION PAYMENT SCHEDULES Backraround Health and Safety Code Section 34177 requires that the Successor Agency adopt a Recognized Obligation Payment Schedule (ROPS) that lists all obligations of the former redevelopment agency that are enforceable within the meaning of subdivision (d) of Section 34167 for each six month period of each fiscal year including January 2012 through June 2012. The ROPS must be submitted to and approved by the Oversight Board. Discussion On February 28, 2012 the Successor Agency adopted the attached Recognized Obligation Payment Schedule ( "ROPS ") for expenditures of the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore ( "Successor Agency ") from February 1, 2012 to June 30, 2012 (Attachment 1). Funding for the previous ROPS obligations came from the January tax increment allocation, administrative allowance and cash on hand. Since February 28, 2012, the County Auditor Controller has requested the addition of a "date of agreement" column to the ROPS. A First Amended ROPS has been prepared to reflect these changes (Attachment 2). The Successor Agency has not yet adopted the First Amended ROPS, and thus it is recommended that the Oversight Board approve the amended ROPS subject to adoption by the Successor Agency. The Successor Agency is scheduled to meet and consider the First Amended ROPS following this meeting. Once the First Amended ROPS is approved it will be submitted to the State Department of Finance (DOF) and the County Auditor Controller. The County Auditor Controller and DOF have requested that the ROPS be submitted by April 15, 2012. AGENDA ITEM 6 Page 1 Approval of Recognized Obligation Payment Schedules April 10, 2012 Page 2 Recommendation Approve Resolution No, OB- 2012 -005 approving the Recognized Obligation Payment Schedule of the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore for the Period of January 2012 Through June 2012 previously adopted by the Successor Agency and approving the First Amendment to the ROPS subject to adoption by the Successor Agency. Prepared and approved by: Barbara Leibold, City Attorney /Successor Agency Counsel Attachments: Resolution No. OB- 2012 -005 — A Resolution of the Oversight Board to the Successor Agency of the Redevelopment Agency of the City Of Lake Elsinore Approving the Recognized Obligation Payment Schedule (ROPS) for the Period of January 2012 Through June 2012 Previously Adopted by the Successor Agency and Approving the First Amendment Thereto Subject to Adoption by the Successor Agency AGENDA ITEM 6 Page 2 ^. RESOLUTION NO. OB -2012 -005 A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS) FOR THE PERIOD OF JANUARY 2012 THROUGH JUNE 2012 PREVIOUSLY ADOPTED BY THE SUCCESSOR AGENCY AND APPROVING A FIRST AMENDMENT THERETO SUBJECT TO ADOPTION BY THE SUCCESSOR AGENCY WHEREAS, the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore ( "Oversight Board") has been established to direct the Successor Agency to take certain actions to wind down the affairs of the former Redevelopment Agency of the City of Lake Elsinore in accordance with the California Health and Safety Code; and WHEREAS, the Redevelopment Agency of the City of Lake Elsinore ( "Agency ") was engaged in activities to execute and implement the Rancho Laguna Project Area No. 1 Redevelopment Plan, the Rancho Laguna Project Area No. 2 Redevelopment Plan and the Rancho Laguna Project Area No. 3 Redevelopment Plan (collectively, the "Redevelopment Plans ") pursuant to the provisions of the California Community Redevelopment Law (Health and Safety Code § 33000, et seq.) ( "CRL "); and WHEREAS, as part of the 2011 -12 State budget bill, the California Legislature enacted and the Governor signed, companion bill AB X1 26 requiring that each redevelopment agency be dissolved; and WHEREAS, an action challenging the constitutionality of AB X1 26 was filed in the California Supreme Court by the California Redevelopment Association, the League of California Cities, and two individual cities; and WHEREAS, on December 29, 2011, the California Supreme Court upheld AB X1 26; WHEREAS, on January 10, 2012, the City of Lake Elsinore elected to serve as the Successor Agency to the Redevelopment Agency of the City of Lake Elsinore pursuant to applicable provisions of the Health and Safety Code; and WHEREAS, effective February 1, 2012 all redevelopment agencies in California, including the Redevelopment Agency of the City of Lake Elsinore, were dissolved and the non - housing assets, properties, contracts, leases, and records of the former redevelopment agency were automatically transferred by operation of law to the Successor Agency; and WHEREAS, Health and Safety Code Section 34169 requires the Successor Agency to prepare and adopt a "Recognized Obligation Payment Schedule" that lists all AGENDA ITEM 6 Page 3 1 "`, OVERSIGHT BOARD RESOLUTION NO. OB 2012 -005 Page 2 obligations of the former redevelopment agency that are enforceable within the meaning of subdivision (d) of Section 34167 for six month periods including January 2012 through June 2012; and WHEREAS, on February 28, 2012, the Successor Agency to the Redevelopment Agency of the City of Lake Elsinore adopted by Resolution Number SA 2012 -001 approving a Recognized Obligation Payment Schedule for the period of January 2012 through June 2012; and WHEREAS, subsequent to this meeting on April 10, 2012, it is anticipated that the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore will adopt by Resolution a First Amended Recognized Obligation Payment Schedule for the period of January 2012 through June 2012; and WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred. NOW, THEREFORE, THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS: SECTION 1. The Recitals set forth above are true and correct and incorporated herein by reference. SECTION 2. In order to enable the City of Lake Elsinore, as Successor Agency to strictly comply with AB X1 26, and based on the Recitals set forth above, the Oversight Board hereby approves the Schedules attached hereto as Exhibits A and B as the Recognized Obligation Payment Schedule (ROPS) for the periods of January 2012 through June 2012; and the First Amended Recognized Obligation Payment Schedule for January 2012 through June 2012, which such amended version is approved subject to the adoption thereof by the Successor Agency. Pursuant to Health & Safety Code Section 34173, the Successor Agency's liability, including, but not limited to, its liability for the obligations on the attached schedule is limited to the total sum of property tax revenues it receives pursuant to Part 1.85 of AB X1 26. SECTION 3. The Oversight Board hereby establishes the Recognized Obligation Payment Schedule (ROPS), pursuant to Health & Safety Code Section 34180(g), for the period of January 2012 through June 2012, as the First Amended Recognized Obligation Payment Schedule. SECTION 4. If any provision of this Resolution or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this Resolution which can be given effect without the invalid provision or application, and to this end the provisions of this resolution are severable. The Oversight Board hereby declares that it would have adopted this Resolution irrespective of the invalidity of any particular portion thereof. AGENDA ITEM 6 Page 4 OVERSIGHT BOARD RESOLUTION NO.OB 2012 -005 Page 3 SECTION 5. This Resolution shall take effect from and after the date of its passage and adoption. PASSED, APPROVED AND ADOPTED at a special meeting of the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore, held this 10th day of April, 2012 by the following vote: AYES: NOES: ABSENT: ABSTAIN: Chairperson, Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore ATTEST: Oversight Board Secretary AGENDA ITEM 6 Page 5 E o W b K F 4 s Sd R C Z � s< � °6R�3 •'388 p �8 � °y � �+ N 88 °O 9888 $ 8 888 m68 G $ 8 8 88 11 $ sse�gasss a s $gs�s s s s s$ ,s � a e o e n o Q o Q n n N 8888V8 600 0 WOO. 8 8 ° $o 8 a $8 c c 8 m8 sdo $ 8 Q 8 88 do R ai o $ •� 25 °n o m N $$ 666 $$$ $ft$ ai rio $ 0 $ 6 $$ c6u�5 as $ o s s 0 ss 66 ♦ se n xa i$ t till i I$l tj i III I I I I 333 N TF, < 3 X851yg1_ 1£9 � $ VR iiiiiiBg ���d � � cE3 5� p 4z_ p fflu c7 rb'�'r6r �.: asJ jqjqj- R Ri'V °%iNnV`vSC S s b E Ha 9 x n� Q e F_ W 8sx °85i8r 8 8 888 �3 8 8 s8 FBI e K A N d d 8 o d» pp q 8 s s !QS 'up�K 8 o g $ ,$ d d 0 b g a d 8dga s 0 d s s r d s s o 8 d gas d d d o 98 d d d s o s o a d as d d d a d a e $ a d a d a d $ o d a 7g 888 d d 8 d 8 d 888 x a 8 8§ id 8 SPaQgga $ iS :b s8 s s g gas d Qs E Q.s S s 8eg 3 $s Ti a+s� d a F �? 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