HomeMy WebLinkAboutRes OB-159 (2)OVERSIGHT BOARD OF THE SUCCESSOR AGENCY OF THE
PALM DESERT REDEVELOPMENT AGENCY
STAFF REPORT
REQUEST: ADOPT RESOLUTION NO. OB - 159 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
SUBMITTED BY: Veronica Tapia, Senior Management Analyst
DATE: January 30, 2017
CONTENTS: Resolution OB - 159
Recognized Obligation Payment Schedule (7/1/17 - 6/30/18)
Recommendation
By Minute Motion that the Oversight Board adopt Resolution OB - 159 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 must prepare a
Recognized Obligation Payment Schedule ("ROPS") for specified fiscal periods.
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). All ROPS must be approved by the Oversight Board and submitted to the
State Department of Finance ("DOF") for review.
Background
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. SB 107, amended HSC Section 34177, providing that the Successor
Agency must prepare a ROPS annually.
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
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.
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Staff Report - Oversight Board Approval of ROPS 17-18
Page 2 of 3
January 30, 2017
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 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 Tess 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 may 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
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 may
order the County Auditor -Controller to disburse to the taxing entities money from the
G \rda\Veronica Tapia\Word Files\Staff Reports\Oversight Board \Palm Desert SA - OB staff report for ROPS 17-18 1-26-17 docx
Staff Report - Oversight Board Approval of ROPS 17-18
Page 3 of 3
January 30, 2017
RPTTF that the DOF determines to be in excess of the amount needed for enforceable
obligations.
Staff recommends that the Oversight Board adopt Resolution OB- 159 approving
ROPS 17-18 and taking certain related actions.
Fiscal Impact
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.
tted by:
Veronica Tapia, Senior M: nagement Analyst
Approval:
M. Moore, Director of Finance
Lauri Aylaian, Executive Director
(a-0, (sor) Ad2)sGI\I-[
BY OVERSIGHT BOARD
ON —. Q — -0 t -1
,
VERIFIED BY
Original on file with City Clerk's Office
G:\rda\Veronica Tapia\Word Files\Staff Reports\Oversight Board\Palm Desert SA - OB staff report for ROPS 17-18 1-26-17 docx
RESOLUTION NO. OB - 159
A RESOLUTION OF THE OVERSIGHT BOARD 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(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, 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)(C) and Section
34177(o)(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 OVERSIGHT BOARD OF THE SUCESSOR
AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY 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. The Oversight Board hereby approves the proposed ROPS 17-18,
substantially in the form attached hereto as Exhibit A. Staff of the Successor Agency is
hereby authorized and directed to: (i) submit a copy of Oversight Board -approved
ROPS 17-18 to the DOF, the Office of the State Controller, and the County Auditor -
Controller and (ii) post a copy of the Oversight Board -approved 17-18 ROPS on the
Successor Agency's Internet website (being a page on the Internet website of the City
of Palm Desert).
Section 3. The Staff 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.
G \rda\Veron,ca Tapia\Word Files\Staff Reports\Oversight Board\Palm Desert SA - 08 reso for ROPS 17-18 1-26-17 docx
RESOLUTION NO. OB - 159
PASSED, APPROVED AND ADOPTED this 30th day of January, 2017.
AYES:
NOES:
ABSENT:
ABSTAIN:
ROBERT A. SPIEGEL, CHAIR
ATTEST:
RACHELLE D. KLASSEN, SECRETARY
OVERSIGHT BOARD OF SUCCESSOR AGENCY TO THE
PALM DESERT REDEVELOPMENT AGENCY
G \rda\Veronica Tapia\Word Files \Staff Reports\ Oversight Board\Palm Desert SA - OB reso for ROPS 17-18 1-26-17 docx2
RESOLUTION NO. OB - 159
EXHIBIT A
SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
(July 1, 2017 — June 30, 2018)
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Palm Desert Recognized Obligation Payment Schedule (ROPS 17-18) - Notes July 1, 2017 through June 30, 2018