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HomeMy WebLinkAboutRes OB-168 (2)OVERSIGHT BOARD OF THE SUCCESSOR AGENCY OF THE PALM DESERT REDEVELOPMENT AGENCY MEETING DATE: REQUEST: Recommendation STAFF REPORT January 22, 2018 ADOPT RESOLUTION NO. OB - 168 ADOPTING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE FISCAL PERIOD FROM JULY 1, 2018 THROUGH JUNE 30, 2019, PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177 By Minute Motion that the Oversight Board adopt Resolution OB - 168 approving the Recognized Obligation Payment Schedule for the annual period from July 1, 2018 through June 30, 2019 ("ROPS 18-19"). Background and Analysis 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. Each ROPS request covers a six-month period (commencing January 1 and July 1, respectively) and is prepared annually for approval. 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, 2018. 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 18-19 no later than April 15, 2018. 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 18-19 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 January 22, 2018 - Staff Report RECOGNIZED OBLIGATION PAYMENT SCHEDULES 2018/2019 Page 2 of 3 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 18-19 on June 1, 2018 (to cover enforceable obligation payments from July 1, 2018 through December 31, 2018) and January 2, 2019 (to cover enforceable obligation payments from January 1, 2019 through June 30, 2019). Penalties for Failure to Make Timely Submission If the Successor Agency does not submit an Oversight Board -approved ROPS 18-19 by February 1, 2018, the City of Palm Desert will be subject to a civil penalty of $10,000 per day for every day that ROPS 18-19 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 18-19, 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 18-19 within 10 days of the February 1, 2018 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 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 the resolution approving ROPS 18-19 and taking certain related actions. January 22, 2018 - Staff Report RECOGNIZED OBLIGATION PAYMENT SCHEDULES 2018/2019 Page 3 of 3 Fiscal Analysis The preparation and submittal of ROPS 18-19 is for the purpose of allowing the Successor Agency to pay its enforceable obligations for the period from July 1, 2018 to June 30, 2019. repared by: Veronica TapiA, Senior Management Analyst LEGAL REVIEW DEPT. REVIEW FINANCIAL REVIEW CITY MANAGER N/A Reveiwed by RWG Robert W. Hargreaves City Attorney 1 Moore ;Jan'-t Moore Director of Finance ATTACHMENTS: Resolution No. OB - 168 ROPS 18-19 ector of Finance (6-D, Jt(S 0�) BY OVERSIGHT BOARD ON ' l --'r} ., -- 1 VERIFIED B Original on file with City Clerk's 0 Lauri Aylaian City Manager RESOLUTION NO. OB - 168 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, 2018,THROUGH JUNE 30, 2019, 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, 2018,through June 30, 2019 ("ROPS 18-19"),and submit ROPS 18-19 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 18-19 to the DOF, the Office of the State Controller, and the County Auditor - Controller no later than February 1, 2018, and (ii) post a copy of the Oversight Board - approved ROPS 18-19 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 18-19, 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 18-19 to the DOF, the Office of the State Controller, and the County Auditor - Controller and (ii) post a copy of the Oversight Board -approved 18-19 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 18-19 pursuant to the DOF's instructions, and any such actions previously taken are hereby ratified and confirmed. G \rda\Veronica Tapia\Word Files\Staff Reports\Oversight Board\Palm Desert SA - 08 reso for ROPS 18-19 1-22-18.docx RESOLUTION NO. OB - 168 PASSED, APPROVED AND ADOPTED this 22nd day of January, 2018. 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 18-19 1-22-18.docx2 RESOLUTION NO. OB - 168 EXHIBIT A SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY RECOGNIZED OBLIGATION PAYMENT SCHEDULE (July 1, 2018 — June 30, 2019) G:\rda\Veronica Tapia\Word Files\Staff Reports\Oversight Board\Palm Desert SA - OB reso for ROPS 18-19 1-22-18 docx cn 0 a) 0 m �. Cn w 0 5- (D Q ) c 0 (T) o 0 v 2 s 0 m Q_ 0 0 0 Q_ C c 0-'- 0 0 (/) 0 m o o co c (Q N (D Q.. O CQ. a) 0 c c : 0) o 5 0)0 0 O < m CO �. �CQ C0 O ate) 0 - C) 3 0 0) _ -. co 0 a) Q_ cn a) m 0 0 Q_ 3 (a (D 0 = O m m 0 0 Co D Current Period Enforceable Obligations (A+E): dllda eAgeils!uivapV H H m Redevelopment Property Tax Trust Fund (RPTTF) (F+G): sound Jain° eouele8 anaasaa spaaaoad puog Enforceable Obligations Funded as Follows (B+C+D): Current Period Requested Funding for Enforceable Obligations (ROPS Detail) -CO EA Efl 1 1 cti (n cri 1 Iv co 0 O 0.) 0 01 CO (J) (M 1 1 1 () 0) �l 4 N V (.4 CO CI) CA A CO O A -4 N Gz) Ui N OD O .0. 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( j CCD C.,) 01 N 0) _ r. W W CND -CO 0 W CO COn O C(D CDP O 10 0 0 1 0 0 room 01 o QCD 1.0 m('n< c w > a < (0 CD CD O _m 3 13 � 1 (T (D sound Puo9 aofl :11se0 pe;ola}seJ a841O/aaa* co co01 cn O -P 01 W o co 1 O O 1 01 01 O N co co O co 0 0 N O N O cp o 0 0 EllS S p O 73 S CDCD (DEn O (OD O O 0 O n 0 (D ° '� i) oN co c (D (p c co c u) > Iv 5m Q- 0 O- •aCA • aN 6� CT Q o (D m o La 0 -0 • < s-n . c • cp m 0 a c CD a c 0 m (0 CQ p m 0 o -° 0 �I- (D 0 A) CT �. CD A) (n 0cr) a mCO CD - o. a -o C - a c (D O O `< A) (1) —r 3 60 aa) o) 7D r w c c• ii o a � K co cn ro CD (n 3 (D A) a co O a m c a (n m. 3 CS O 0 0 cn 0 a 0 a) (n c 0 Co 0 z a T z a (n m co (0 stuauauaoO uiwpy-uoN SdOEI aoud SdObi Jopd spaaaoad puo8 a3uele8 anaasaa 0 CD -n se inoS pund D � o 3 (D w 3 0 0 1-F (U x N (D c (D (n 1 (D 0 (D 0- Cr C o o -a 0 rF O n O IS 3 O O U1 0 m Cr 07). N. c 5 • C L • O vw o 0 ^^`V` W 3 0) fD XJ CD C) 0 cs� N' 0. 0 a - a) O 3 co 0 0. fD 0 33 (D 0 0 0 0) a 0 fD m 3 sjuauiwuo3/saloN au 3 v CD CO 0 il CD 0 0 co N. al Q 0 a c0' a) 0' a) 3 0 0 a 0 a c 0 m) 0 1 co Notes July 1, 2018 through June 30, 2019