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HomeMy WebLinkAboutRes SA-RDA 075 - ROPS and Admin BudgetsSTAFF REPORT SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY/ MEETING DATE: January 10, 2019 SUBMITTED BY: Veronica Tapia, Senior Management Analyst REQUEST: ADOPT RESOLUTION NO. SA -RDA 075 ADOPTING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE AND ADMINISTRATIVE BUDGETS FOR THE FISCAL PERIOD FROM JULY 1, 2019 THROUGH JUNE 30, 2020, PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177 AND TAKING CERTAIN RELATED ACTIONS Recommendation That the Successor Agency Board adopt: 1) Resolution SA -RDA 075 approving the Recognized Obligation Payment Schedule and Administrative Budgets for the fiscal period from July 1, 2019 through June 30, 2020, and taking certain related actions. Strategic Plan There is no direct correlation to the strategic plan. Background and Analvsis Pursuant to Health and Safety Code ("HSC") Section 34177, the Successor Agency must prepare a Recognized Obligation Payment Schedule ("ROPS") annually, listing the anticipated payments for enforceable obligations to be made from July 1 through the following June 30. The Successor Agency must also prepare a proposed administrative budget for each six-month period, which must include the following: (1) estimated amounts for Successor Agency administrative costs for the applicable six-month fiscal period; (2) proposed sources of payment for the administrative costs; and (3) proposals for arrangements for administrative and operations services provided by the City of Palm Desert (the "City") or another entity. All ROPS and Administrative Budgets must be approved by the Riverside County Countywide Oversight Board (which has jurisdiction over the Successor Agency beginning July 1, 2018). Each Oversight Board -approved ROPS and Administrative Budget must be submitted to the DOF for review. HSC Section 34177 also requires the January 10, 2019 - Staff Report RECOGNIZED OBLIGATION PAYMENT SCHEDULES AND ADMIN BUDGET 2019/2020 Page 2 of 3 Successor Agency to submit an Oversight Board -approved ROPS to the DOF and to the County Auditor -Controller no later than February 1, 2019. A copy of the Oversight Board - approved ROPS must be posted on the Successor Agency's website. The DOF may 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 19-20 no later than April 15, 2019. 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 19-20 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 for fiscal year 2019-20 on June 1, 2019 (to cover enforceable obligation payments from July 1, 2019 through December 31, 2019) and January 2, 2020 (to cover enforceable obligation payments from January 1, 2020 through June 30, 2020). Delinquent submission of the ROPS to the Oversight Board may result in severe penalties to the City of Palm Desert (as the responsible entity that created the Redevelopment Agency). Staff recommends that the Board of Directors of the Successor Agency adopt the resolution approving the ROPS and Administrative Budgets for fiscal year 2019-20 and taking certain related actions. Fiscal Analvsis The preparation and submittal of ROPS and Administrative Budgets for fiscal year 2019- 20 are for the purpose of allowing the Successor Agency to pay its enforceable obligations for the period from July 1, 2019 to June 30, 2020. The "administrative cost allowance" is the amount of administrative costs that may be paid by the Successor Agency from moneys received from the RPTTF. Subject to the Dissolution Act, the permitted administrative cost allowance is the greater of: (i) $250,000 per fiscal year, or (ii) up to 3 percent of the actual RPTTF moneys distributed to the Successor Agency by the County Auditor -Controller in the preceding fiscal year for payment of approved enforceable obligations, reduced by the administrative cost G \rda\Veronica Tapia\Word Files\Staff Reports\Successor Agency\Palm Desert - SA staff report for ROPS and Admin Budgets 19-20 DOCX January 10, 2019 - Staff Report RECOGNIZED OBLIGATION PAYMENT SCHEDULES AND ADMIN BUDGET 2019/2020 Page 3 of 3 allowance and repayments or certain loans owing to the City of Palm Desert (the "City Loans") during the preceding fiscal year; provided that it shall not exceed 50 percent of the RPTTF moneys distributed to the Successor Agency in the preceding fiscal year. LEGAL REVIEW DEPT. REVIEW FINANCIAL REVIEW CITY MANAGER Reviewed by RWG .; ?rector oore a t Moore Lauri Aylaian Robert W. Hargreaves of Finance Director of Finance City Manager City Attorney ATTACHMENTS: Resolution No. SA -RDA 075 ROPS 2019-20 Administrative Budgets 2019-20 G:\rda\Veronica Tapia\Word Files\Staff Reports\Successor Agency\Palm Desert - SA staff report for ROPS and Admin Budgets 19-20.DOCX RESOLUTION NO. SA -RDA 075 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE AND ADMINISTRATIVE BUDGETS FOR THE FISCAL PERIOD FROM JULY 1, 2019 THROUGH JUNE 30, 2020, PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177 AND TAKING CERTAIN RELATED ACTIONS RECITALS: A. Pursuant to Health and Safety Code ("HSC") Section 34177(o), 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, 2019 through June 30, 2020 ("ROPS 19-20") and submit ROPS 19-20 to the oversight board of the Successor Agency for approval. B. Pursuant to HSC Section 341790), commencing on and after July 1, 2018, the Riverside Countywide Oversight Board (the "Oversight Board") has jurisdiction over the Successor Agency. C. Pursuant to HSC 34177(I)(2)(B), at the same time that the Successor Agency submits ROPS 19-20 to the Oversight Board for approval, the Successor Agency must submit a copy of such ROPS 19-20 to the State Department of Finance (the "DOF"), the County administrative officer, and the County Auditor -Controller. D. Pursuant to HSC Section 341770), the Successor Agency must prepare a proposed administrative budget for each six-month fiscal period (commencing each January 1 and July 1) and submit each proposed administrative budget to the Oversight Board for approval. E. Each proposed administrative budget shall include all of the following: (1) estimated amounts for Successor Agency administrative costs for the upcoming six- month fiscal period; (2) proposed sources of payment for the costs identified in (1); and (3) proposals for arrangements for administrative and operations services provided by the City of Palm Desert or another entity. F. Pursuant to HSC Section 34177(I)(2)(C) and Section 34177(o)(1), the Successor Agency must: (i) submit the Oversight Board -approved ROPS 19-20 to the DOF, the Office of the State Controller, and the County Auditor -Controller no later than February 1, 2019, and (ii) post a copy of the Oversight Board -approved ROPS 19-20 on the Successor Agency's website. GArda\Veronica Tapia\Word Files\Staff Reports\Successor Agency\Palm Desert SA - SA reso for ROPS and Admin Budgets 19-20 12-20-19.docx Resolution No. SARDA-075 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 19-20, substantially in the form attached hereto as Exhibit A, is hereby approved. Section 3. Each of Administrative Budget 19-20A (covering the period from July 1, 2019 through December 30, 2019) and Administrative Budget 19-20B (covering the period from January 1, 2020 through June 30, 2020) (together, "Administrative Budgets 19-20"), substantially in the form attached hereto as Exhibit B, is hereby approved. Section 4. The Executive Director of the Successor Agency, in consultation with the Successor Agency's legal counsel, may modify ROPS 19-20 and/or the Administrative Budgets 19-20 as the Executive Director or the Successor Agency's legal counsel deems necessary or advisable. Section 5. Staff is hereby authorized and directed to submit a copy of ROPS 19-20 to the Oversight Board for approval and, at the same time, transmit a copy of ROPS 19-20 to the DOF, the County Auditor -Controller and the County administrative officer as designated by the County. Section 6. Staff is hereby authorized and directed to also submit the proposed Administrative Budgets to the Oversight Board for approval. Section 7. Staff is hereby authorized and directed to submit a copy of Oversight Board -approved ROPS 19-20 to the DOF, the Office of the State Controller, and the County Auditor -Controller. If the Oversight Board has not approved ROPS 19-20 by February 1, 2019, Staff is hereby authorized and directed to transmit ROPS 19-20 to the DOF, the Office of the State Controller, and the County Auditor -Controller by February 1, 2019, 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 8. This Board hereby represents and warrants to the Oversight Board that it examined all of the items on the ROPS FY 2019-2020 and finds that each of them is necessary for the continued maintenance and preservation of property owned by the Successor Agency until disposition in accordance with the Dissolution Act, the continued administration of the ongoing enforceable obligations, or the expeditious wind -down of the affairs of the former Palm Desert Redevelopment Agency by the Successor Agency. Section 9. Staff is hereby authorized and directed to post a copy of the Oversight Board -approved ROPS 19-20 on the Successor Agency's Internet website (being a page on the Internet website of the City of Palm Desert). G \rda\Veronica Tapia\Word Files\Staff Reports\Successor Agency\Palm Desert SA - SA reso for ROPS and Admin Budgets 19-2012-20-19.docx Resolution No. SARDA-075 Section 10. 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 19-20 and/or Administrative Budgets 19-20 pursuant to the DOF's instructions, and any such actions previously taken are hereby ratified and confirmed. PASSED, APPROVED AND ADOPTED this 10th day of January, 2019. AYES: NOES: ABSENT: ABSTAIN: Susan Marie Weber, Chair ATTEST: RACHELLE D. KLASSEN, SECRETARY SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY G'\rda\Veronica Tapia\Word Files\Staff Reports\Successor Agency\Palm Desert SA- SA reso for ROPS and Admin Budgets 19-2012-20-1g.docx Resolution No. SARDA-075 EXHIBIT A SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY RECOGNIZED OBLIGATION PAYMENT SCHEDULE (July 1, 2019 — June 30, 2020) G \rda\Veronica Tapia\Word Files\Staff Reports\Successor Agency\Palm Desert SA - SA reso for ROPS and Admin Budgets 19-20 12-20-19.docx -0 n - n 0 w (D C (p = 0 m m ❑ 0 m a ro _0n a 0 m ro L° ° m 70 ❑ m ° ❑' Ct w C ❑ 3 CL (Da. 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O o m ¢ No °i o y N � m = y m n u c o m N a1 C � T=O Ni ¢ of v�y r/�h vi vaN Nv�/1 ✓�NNvr»vf �n NN a 0 c ° ❑ =zzzxzzzzzxrzzzzazzzzxx n Q- � Y ❑ a r C c o a 7 ¢ m v 4 — sO � i O 0 _ o d �o N � m a a` E _ � m a a w m a E O a 6 C"7 fli L Q1 3 0 t r 0 r _A 75 3 N 0 z v N QS a v Q) 75 M W r N E a C 0 c� co .O 0 M 0) N ._ tm O 0 0) cc L Q} N 41 E cc a QC)oo0a 0 D o o �t cD ooioornQ ouia0c+iCO- C) LO o a [n (0 LO Cl O LI r -5 LO � � � � 0 0io o o 0 0 0 0 0 Ccric L L �.L •L •L 000000` 66C)6C6c3i o a 0 0 0 0 N CV i CV N N CV � �'-C -C C L 0) O7 cn 0) d7 Q 212 D O p E Y -0-0-a-0 a� v vL v 9 _C C c t c i • • Vj C C C C C C C D ❑ ❑ ❑ ❑ ❑ E m m [c m m 0 Gcnosmc+0ror 0Y����� ZO00000 C) CD CD 0) Ln cp cfl r• r-- r- r r r Resolution No. SARDA-075 EXHIBIT B SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY ADMINISTRATIVE BUDGETS (July 1, 2019 — December 31, 2019); and (January 1, 2020 - June 30, 2020) G.\rda\Veronica Tapia\Word Files\Staff Reports\Successor Agency\Palm Desert SA - SA reso for ROPS and Admin Budgets 19-20 12-20-19.docx Exhibit "B" Successor Agency to the Palm Desert Redevelopment Agency January 1, 2020 through June 30, 2020 BASED ON ESTIMATED RPTTF DEPOSIT Jan 1 - Jun 30, 2020 Estimated @ 3% Administrative Cost Allowance 487,523 ROPS 19.20B Budget Source of ADMINISTRATIVE COSTS Jan 1 - Jun 30, 2020 Payment Auditing Service 10,000 A Bank Fees 30,000 A Consulting Services 25,000 A Legal Services 50,000 A Personnel Expenditures' 372,523 2 A, B Total Administrative Costs 487,523 A - Administrative Allowance, B - City General Fund Includes salaries, training, travel, meetings, supplies, etc. 2City staff time reimbursement costs in excess of SARDA allowable administrative costs (as adjusted per Department of Finance) will be borne by the City's General Fund. 12/17/2018 12:19 PM Proposed Administrative Budgets A&B - June 30, 2020 1-10-19 Exhibit "B" Successor Agency to the Palm Desert Redevelopment Agency July 1, 2019 through December 31, 2019 BASED ON ESTIMATED RPTTF DEPOSIT Jul 1 - Dec 31, 2019 Estimated @ 3% Administrative Cost Allowance 454,333 ROPS 19-20A Budget Source of ADMINISTRATIVE COSTS Jul 1 - Dec 31, 2019 Payment Auditing Service 10,000 A Bank Fees 30,000 A Consulting Services 25,000 A Legal Services 50,000 A Personnel Expenditures' 339,333 2 A, B Total Administrative Costs 454,333 A - Administrative Allowance, B - City General Fund Includes salaries, training, travel, meetings, supplies, etc. 2City staff time reimbursement costs in excess of SARDA allowable administrative costs (as adjusted per Department of Finance) will be borne by the City's General Fund. 1/3/2019 8:58 AM Proposed Administrative Budgets A&B - June 30, 2020 1-10-19