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Home My WebLink AboutRes SA-RDA 065 - ROPS - 7/1/2017-6/30/2018RESOLUTION N0. SA-RDA 065 SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY STAFF REPORT REQUEST: ADOPT RESOLUTION NO. SA-RDA o65 ADOPTING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE FISCAL PERIOD FROM JULY 1, 2017 THROUGH JUNE 30, 2018, PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177 AND TAKING CERTAIN RELATED ACTIONS SUBMITTED BY: Veronica Tapia, Senior Management Analyst DATE: January 26, 2017 CONTENTS: Resolution SA-RDA o65 Recognized Obligation Payment Schedule (7/1/17-6/30/18) Recommendation By Minute Motion that the Successor Agency Board adopt Resolution SA-RDA obs approving the Recognized Obligation Payment Schedule for the annual period from July 1, 2017 through June 30, 2018 ("ROPS 17-18"). Executive Summary Pursuant to Section 34177 of the Health and Safety Code ("HSC"), in order to make payments on enforceable obligations, the Successor Agency is required to prepare a Recognized Obligation Payment Schedule ("ROPS") for specified fiscal periods. Each ROPS must be approved by the Oversight Board, submitted to the County Auditor- Controller, the State Controller, as well as the State Department of Finance ("DOF"). Previously, the Successor Agency was required to prepare a ROPS for each six-month fiscal period (from July 1 through December 31 and from January 1 through June 30, respectively). Due to a change in law in 2015, the Successor Agency is now required to prepare only one ROPS per fiscal year. Backqround Pursuant to HSC Section 34177, the Successor Agency must prepare a ROPS listing the anticipated payments for enforceable obligations to be made during each specified fiscal period. Previously, each ROPS covered a six-month period (commencing January 1 and July 1, respectively). SB 107 amended HSC Section 34177, to provide that, beginning with fiscal year 2016-17, the Successor Agency must prepare a ROPS annually (instead of twice a year). All ROPS must be approved by the Oversight Board. Furthermore, each Oversight Board-approved ROPS must be submitted to the DOF for review. HSC Section 34177 G��ida`\'eromcn Tapia'N'ord Files�StafTRepons Successor :\gaic�� I'alm Uesen ti:\ - SA stafTrepun for ROPS 17-IS I-26-17 docr Staff Report Approving Recognized Obligation Payment Schedule for FY 17-18 January 26, 2017 Page 2 of 3 also requires the Successor Agency to submit an Oversight Board-approved ROPS to the DOF and to the County Auditor-Controller no later than February 1, 2017. A copy of the Oversight Board-approved ROPS must be posted on the Successor Agency's website. The DOF inay eliminate or modify any item on the ROPS before approving the ROPS. The DOF must make its determination regarding the enforceable obligations and the amount and funding source for each enforceable obligation listed on ROPS 17-18 no later than April 15, 2017. Within five business days of the DOF's determination, the Successor Agency may request to "meet and confer" with the DOF on disputed items. The meet and confer period may vary, but an untimely submission of ROPS 17-18 may result in a meet and confer period of less than 30 days. The County Auditor-Controller may object to the inclusion of any item on the ROPS that is not demonstrated to be an enforceable obligation and may object to the funding source proposed for any item. The County Auditor-Controller must provide notice of its objections to the DOF, the Successor Agency and the Oversight Board at least 60 days before disbursements from the Redevelopment Property Tax Trust Fund ("RPTTF") are required to be made. The County Auditor-Controller is required to make RPTTF disbursements to the Successor Agency pursuant to the DOF-approved ROPS 17-18 on June 1, 2017 (to cover enforceable obligation payments from July 1, 2017 through December 31, 2017) and January 2, 2018 (to cover enforceable obligation payments from January 1, 2018 through June 30, 2018). Penalties for Failure to Make Timely Submission If the Successor Agency does not submit an Oversight Board-approved ROPS 17-18 by February 1, 2017, the City of Palm Desert will be subject to a civil penalty of $10,000 per day for every day that ROPS 17-18 is not submitted to the DOF. The penalty will be paid to the County Auditor-Controller for distribution to the taxing entities. If the Successor Agency does not timely submit ROPS 17-18, creditors of the Successor Agency, the DOF, and affected taxing entities may request a writ of mandate to require the Successor Agency to immediately perform this duty. Additionally, if the Successor Agency does not submit ROPS 17-18 within 10 days of the February 1, 2017 deadline, the Successor Agency's maximum administrative cost for that period will be reduced by 25 percent. If the Successor Agency fails to submit an Oversight Board-approved ROPS to the DOF within five business days of "the date upon which the ROPS is to be used to determine the amount of property tax allocations," the DOF inay order the County Auditor- Controller to withhold a scheduled RPTTF disbursement to the Successor Agency pending the DOF's review of the related ROPS. (It is not clear what is "the date upon G rda�\'cronwa �I�apia Wmd Pilcs•.StafTRepons\Succcswr Agcncyl'alm Ucxn 5.\ - S.\ atafficpun fur ROPS 17-I8 I-ZG-17 doe� Staff Report Approving Recognized Obligation Payment Schedule for FY 17-18 January 26, 2017 Page 3 of 3 which the ROPS is to be used to determine the amount of property tax allocations." Possibly, it is referring to October 1 and April 1, the dates by which the County Auditor- Controller must prepare estimates for the upcoming RPTTF disbursements on January 2 and June 1, respectively, and provide the estimates to the DOF, the Successor Agency and the taxing entities.) In conjunction with such a withholding, the DOF inay order the County Auditor-Controller to disburse to the taxing entities money from the RPTTF that the DOF determines to be in excess of the amount needed for enforceable obligations." Staff recommends that the Board of Directors of the Successor Agency adopt Resolution SA-RDA o65 approving ROPS 17-18 and taking certain related actions. Fiscal Analvsis The preparation and submittal of ROPS 17-18 is for the purpose of allowing the Successor Agency to pay its enforceable obligations for the period from July 1, 2017 to June 30, 2018. Submitted by: J � eronica Tapia, Senior anagement Analyst Approval: .� l `�� '�� - r � � ��__.. _._.. J net . Moore, Director of Finance ,_.��-...�-.�''EC�(._.�._.� ��:'" ��.-��.A �� ' � /�/ . � �}�y�`i.>_..,.,.....L.,l..`.�...._�.Sl` �`k...-.. �.��/.(`.. . / . , v,. �, __ ... �.... � � : f . _��t;� �� y �:� ':. ��.,,��. �s..� ��; :.�: ,?_� �,: .._� � �a,E �;�� '� i `�crz�i �� r�, ;��e ll y-, �l-�s�� <�e, � � l�'e%-�r, �r��` �1�� k I�1��C�� l�h/C= Lauri Aylaian, Executive Dir "r G�.\rda\Veronica Tapia\Word Files\Staff Repons\Successor AgencyU'alm Desert SA - SA staff report tbr ROPS 17-18 1-26-17.docx RESOLUTION NO. SA-RDA o65 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE FISCAL PERIOD FROM JULY 1, 2017 THROUGH JUNE 30, 2018, PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177 AND TAKING CERTAIN RELATED ACTIONS RECITALS: A. Pursuant to Health and Safety Code Section 34177(0), the Successor Agency to the Palm Desert Redevelopment Agency (the "Successor Agency") must prepare a Recognized Obligation Payment Schedule listing the anticipated payments for enforceable obligations to be made by the Successor Agency during the fiscal period from July 1, 2017 through June 30, 2018 ("ROPS 17-18") and submit ROPS 17-18 to the oversight board of the Successor Agency (the "Oversight Board") for approval. B. Pursuant to Health and Safety Code Section 34177(I)(2)(B), at the same time that the Successor Agency submits ROPS 17-18 to the Oversight Board for approval, the Successor Agency must submit a copy of such ROPS 17-18 to the State Department of Finance (the "DOF"), the County administrative officer, and the County Auditor-Controller. C. Pursuant to Health and Safety Code Section 34177(I)(2)(C) and Section 34177(0)(1), the Successor Agency must: (i) submit the Oversight Board-approved ROPS 17-18 to the DOF, the Office of the State Controller, and the County Auditor- Controller no later than February 1, 2017, and (ii) post a copy of the Oversight Board- approved ROPS 17-18 on the Successor Agency's website. NOW, THEREFORE, THE BOARD OF DIRECTORS OF THE SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY (THE "BOARD"), HEREBY FINDS, DETERMINES, RESOLVES, AND ORDERS AS FOLLOWS: Section 1. The above recitals are true and correct and are a substantive part of this Resolution. Section 2. ROPS 17-18, substantially in the form attached hereto as Exhibit A, is hereby approved. The Executive Director of the Successor Agency, in consultation with the Successor Agency's legal counsel, may modify ROPS 17-18 as the Executive Director or the Successor Agency's legal counsel deems necessary or advisable. Section 3. Staff is hereby authorized and directed to submit a copy of ROPS 17-18 to the Oversight Board for approval and, at the same time, transmit a copy of ROPS 17-18 to the DOF, the County Auditor-Controller and the County administrative officer as designated by the County. G.Uda\Veronica Tapia\Word Files\Slatt Reports\Successor Agency\Palm Desert SA - SA reso for ROPS 17-18 1-26-17 tlocx RESOLUTION N0. SA-RDA 065 Section 4. Staff is hereby authorized and directed to submit a copy of Oversight Board-approved ROPS 17-18 to the DOF, the Office of the State Controller, and the County Auditor-Controller. If the Oversight Board has not approved ROPS 17- 18 by February 1, 2017, Staff is hereby authorized and directed to transmit ROPS 17-18 to the DOF, the Office of the State Controller, and the County Auditor-Controller by February 1, 2017, with a written notification regarding the status of the Oversight Board's review. Written notice and information regarding the action of the Oversight Board shall be provided to the DOF by electronic means and in a manner of DOF's choosing. Section 5. Staff is hereby authorized and directed to post a copy of the Oversight Board-approved ROPS 17-18 on the Successor Agency's Internet website (being a page on the Internet website of the City of Palm Desert). Section 6. The officers and the other Staff members of the Successor Agency are hereby authorized and directed, jointly and severally, to do any and all things which they may deem necessary or advisable to effectuate this Resolution, including but not limited to requesting additional review by the DOF and an opportunity to meet and confer on any disputed items, and making adjustments to ROPS 17-18 pursuant to the DOF's instructions, and any such actions previously taken are hereby ratified and confirmed. PASSED, APPROVED AND ADOPTED this 26th day of January, 2017. AYES: NOES: ABSENT: ABSTAIN: ATTEST: JAN C. HARNIK, CHAIR RACHELLE D. KLASSEN, SECRETARY SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY G\rda\Veronica Tapia\Word Files\Staff Reports\Successor Agency\Paim Desert SA - SA reso for ROPS 17-18 1-26-17 docx2 RESOLUTION N0. 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