HomeMy WebLinkAboutOversight Board Reso 18-0027• i • : • , r 0i;• •
WHEREAS, as a result of the passage of Assembly Bill X1 26 from the 2011-12 First
Extraordinary Session of the California Legislature ("AB X1 26"), the redevelopment functions of
the Downey Community Development Commission (CDC) were dissolved on February 1, 2012;
and
WHEREAS, pursuant to Assembly Bill 1484 of the 2011-12 Legislative Session ("AB
1484"), the Successor Agency to the dissolved redevelopment functions of the Downey
Community Development Commission ("Successor Agency") is a separate public agency now
charged with winding down the CDC's redevelopment affairs, including making payments due
for enforceable obligations (as defined in the Dissolution Act), and perform obligations required
pursuant to enforceable obligations; and
WHEREAS, pursuant to Senate Bill 107 of the 2015-16 Legislative Session ("SB 107"),
an annual Recognized Obligation Payment Schedule ("ROPS") process was established to
replace the previous 6 -month cycle, along with other substantive and technical amendments
(AB X1 26, AB 1484, SB 107, and all other enactments relating to Parts 1.8 and 1.85 of Division
24 of the Health and Safety Code are collectively referred to as the "Dissolution Law"); and
WHEREAS, the Oversight Board to the Successor Agency has been appointed pursuant
to the provisions of Health and Safety Code Section 34179; and
WHEREAS, pursuant to Health and Safety Code sections 34177 and 34180, the
Oversight Board must approve a ROPS for it to become established, valid, and operative for the
applicable fiscal period under the Dissolution Law.
SECTION 1. The foregoing Recitals are true and correct and are incorporated herein.
SECTION 2. The BOPS 18-19 covering the period of July 1, 2018, through June 30,
2019, attached hereto and incorporated herein by reference as Exhibit "A",, is hereby approved
pursuant to Health and Safety Code Sections 34177 and 34180, and any other provision in the
Dissolution Law that applies to the approval by the Oversight Board of the identified BOPS for
the identified period.
SECTION 3. The Secretary or authorized designee is hereby directed to post this
Resolution and the identified RODS for the identified periods on the Successor Agency's
website, and to provide a copy of the identified ROPS for the identified periods to the State
Controller's Office, State Department of Finance, and the County Auditor -Controller.
• :• -r • 11 • i •- ��
PAGE 2
SECTION 4. The Secretary shall certify to the adoption of this Resolution.
PASSED AND ADOPTED by the Oversight Board at a meeting held on the 18th day of
January, 2018.
T56NALD APLANTE,
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES SS
CITY OF DOWNEY ;
1, Maria Alicia Duarte, CMC, Secretary to the Oversight Board, hereby certify that the
foregoing resolution was duly adopted at a meeting of the Oversight Board, held on the 18th of
January, 2018.
AYES:
Board Members: Arreaola, Delawalla, Lathem, Saab, Schindler, Chair LaPlante
NOES:
Board Member:
ABSENT:
Board Member:
ABSTAIN:!
Board Member:
OVERSIGHT BOARD RESOLUTION NO. OB 18-0027
PAGE 3
EXHIBIT "A
Recognized Obligation Payment Schedule 2018-19
MW977-7 E.
July 1, 2015 through1 2016
�R*lport Amounts in Wholeir:
Pursuant to Health and Safety Code section 34177 (1), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPE, 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
A
B C D
E
I F
G
H I`
Revenue/Income (Actual 06/30/16)
Fund Sources
RPTTF amounts should tie to the ROPS 15-16 total distribution from the
Bond Proceeds
Reserve Balance
Other
RPTTF
County Auditor -Controller during June 2015 and January 2016,
Prior ROPE
period balances Prior ROPS
1,014.043
3
Expenditures for ROPS 15-16 Enforceable Obligations (Actual
and RPTTF
06/30/16)
Bonds issued on Bonds issued on
DDR RPTTF distributed as
Rent,
Non -Admin
Cash Balance Information for ROPS 15-16 Actuals or before or after
balances reserve for future
grants,
and
Retention of Available Cash Balance (Actual 06/30/16)
(07/01/15-06/30/161 12/31/10 01/01/11
retained oeriod(s)
interest. etc.
Admin Comments
1
Beginning Available Cash Balance (Actual 07/01/15)
643,250
1,102, 795 127.843. 19,566
2
Revenue/Income (Actual 06/30/16)
RPTTF amounts should tie to the ROPS 15-16 total distribution from the
County Auditor -Controller during June 2015 and January 2016,
23,774
1,014.043
3
Expenditures for ROPS 15-16 Enforceable Obligations (Actual
06/30/16)
1,123,036
4
Retention of Available Cash Balance (Actual 06/30/16)
RPTTF amount retained should only include the amounts distributed as
reserve for future period(s)
5
ROPS 15-16 RPTTF Balances Remaining
No entry required
6
Ending Actual Available Cash Balance (06/30/16)
CtoG=(1+2-3-4),H=(1+2-3-4+5)
$ 643,250 $ - $ 1,102,795 $ 127,843 $ 43,340
1 $ 108,993
Recognized Obligation Payment Schedule (ROPS 18-19) - Summary
Filed for the July 1, 2018 through June 30, 2019 Period
Successor Agency: Downey
County: Los Angeles
Certification of Oversight Board Chairman: Pe ria U C. L -k Ackf\t cho - /-
Pursuant to Section 34177 (o) of the Health and Safety code, I
hereby certify that the above is a true and accurate Recognized Name Title
Obligation Payment Schedule for the above named successor
agency. /s/I
Signature Date
18-19A Total
18-19B Total
Current Period Requested Fundinigjor Enforceable Obligations (ROPS Detail)
—.(July - December)
(January - June)
ROPS 18-19 Total
A
Enforceable Obligations Funded as Follows (B+C+D):
$
$
$
B
Bond Proceeds
C
Reserve Balance
D
Other Funds
E
Redevelopment Property Tax Trust Fund (RPTTF) (F+G):
$ 1,523,977
$ 377,614
$ 1,901,591
F
RPTTF
1,398,977
252,614
1,651,591
G
Administrative RPTTF
125,000
125,000
250.000
H
Current Period Enforceable Obligations (A+E):
$ 1,523,977
$ 377,614
$ 1,901,591
Certification of Oversight Board Chairman: Pe ria U C. L -k Ackf\t cho - /-
Pursuant to Section 34177 (o) of the Health and Safety code, I
hereby certify that the above is a true and accurate Recognized Name Title
Obligation Payment Schedule for the above named successor
agency. /s/I
Signature Date