OSB 17-001RESOLUTION NO. OSB 17 -001
A RESOLUTION OF THE OVERSIGHT BOARD TO
THE SUCCESSOR AGENCY OF THE POWAY
REDEVELOPMENT AGENCY APPROVING THE
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
(ROPS) AND THE ADMINISTRATIVE BUDGETS FOR THE
PERIOD FROM JULY 1, 2017 THROUGH JUNE 30, 2018
WHEREAS, Assembly Bill (AB) X1 26 requires the Oversight Board to review and
certify the Recognized Obligation Payment Schedule (ROPS) for every six month
period, beginning January 1, 2012;
WHEREAS, SB 107 revised the ROPS submittal schedule and requires the
ROPS for July 2017 through June 2018 be approved by the Oversight Board and
submitted by February 1, 2017;
WHEREAS, AB 1484 requires that all actions taken by the Oversight Board be
adopted by resolution (Health and Safety Code § 34179(e));
WHEREAS, "Exhibit A" attached hereto and incorporated by reference herein is
the ROPS covering the period from July 1, 2017 through June 30, 2018;
WHEREAS, in accordance with Health and Safety Code Sections 34171(b) and
34183(a)(3), Successor Agency staff prepared an administrative budget for the one -
year fiscal period commencing July 1, 2017, and continuing through June 30, 2018 (the
"FY 17 -18 Administrative Budget ") "Exhibit B ";
WHEREAS, AB 1484 requires that the FY 17 -18 Administrative Budget must be
submitted by the Successor Agency to the Oversight Board for the Oversight Board's
approval;
WHEREAS, AB 471 established a "housing entity administrative cost allowance"
for local housing authorities that assumed the housing functions of former
redevelopment agencies;
WHEREAS, in accordance with Health and Safety Code 34171(p), as amended
by AB 471, Successor Agency staff prepared a "housing entity administrative cost
allowance" for the Poway Housing Authority for the one -year period commencing July 1,
2017 through June 30, 2018 (the "FY 17 -18 Administrative Budget for the Poway
Housing Authority ") "Exhibit C ", and
WHEREAS, AB 471 requires that the FY 17 -18 Administrative Budget for the
Poway Housing Authority be listed by the Successor Agency on the ROPS submitted to
the Oversight Board.
NOW, THEREFORE, BE IT RESOLVED by the Oversight Board to the
Successor Agency of the Poway Redevelopment Agency as follows:
Resolution No. OSB 17 -001
Page 2
Section 1. The ROPS for the period of July 1, 2017 through June 30, 2018 is
hereby adopted.
Section 2. The City Manager of the City of Poway, or designee, is authorized
to submit the ROPS to the appropriate State and County authorities, and to post it on
the City of Poway website, in accordance with the requirements of AB 1484.
Section 3. The Oversight Board hereby approves the FY 17 -18 Administrative
Budget in the form on file with the secretary of the Oversight Board (the "Approved FY
17 -18 Administrative Budget "), and authorizes the Successor Agency to incur costs for
the general administrative activities and functions described in the Approved FY 17 -18
Administrative Budget.
Section 4. The Oversight Board finds that the Approved FY 17 -18
Administrative Budget supports an Administrative Cost Allowance to the Successor
Agency in the maximum authorized amount of $432,838 for the one -year period of July
1, 2017 through June 30, 2018.
Section 5. The Successor Agency is authorized and directed to enter into any
agreements and amendments to agreements necessary to memorialize and implement
the agreements and obligations in the Approved FY 17 -18 Administrative Budget, and
herein approved by the Oversight Board.
Section 6. The Oversight Board finds that the FY 17 -18 Administrative Budget
for the Poway Housing Authority supports an Administrative Cost Allowance to the
Poway Housing Authority in the minimum authorized amount of $150,000 for the one -
year period of July 1, 2017 through June 30, 2018.
Section 7. The Oversight Board hereby authorizes and directs the Successor
Agency staff to take all actions necessary under AB 1484 to file, post, mail or otherwise
deliver via electronic mail, internet posting, and /or hardcopy, all notices and transmittals
necessary or convenient in connection with the approval of the Approved FY 17 -18
Administrative Budget and to take any other actions necessary to ensure the validity of
the Approved FY 17 -18 Administrative Budget and the validity of any expenditures listed
thereon.
PASSED, ADOPTED AND APPROVED by the Oversight Board to the Successor
Agency of the Poway Redevelopment Agency at a meeting thereof this 19th day of
January 2017.
Resolution No. OSB 17 -001
Page 3
in
• . •
ATTEST:
- �Le"'r ��Zz�
Nancy Ne eld, (C C, Secretary of the
Oversight Board to the Successor Agency
of the Poway Redevelopment Agency
Attachments:
Exhibit A — ROPS 17 -18 for the period of July 1, 2017 through June 30, 2018
Exhibit B — FY 17 -18 Administrative Budget for the period of July 1, 2017 through
June 30, 2018
Exhibit C — FY 17 -18 Administrative Budget for the Poway Housing Authority for
the periods of July 1, 2017 through June 30, 2018
STATE OF CALIFORNIA )
) ss.
COUNTY OF SAN DIEGO)
I, Nancy Neufeld, Secretary of the Successor Agency to the Poway
Redevelopment Agency, do hereby certify under penalty of perjury that the foregoing
Resolution No. OSB 17 -001 was duly adopted by the Oversight Board to the Successor
Agency of the Poway Redevelopment Agency at a meeting of said Board held on the
19th day of January 2017, and that it was so adopted by the following vote:
AYES: FONG- SAKAI, LYON, CONIGLIO, SCOTT, HERNDON
NOES: NONE
ABSENT: BIERNE, AZIMZADEH
DISQUALIFIED: NONE
N ncy N6ufdld, CIVIC, Secretary of the
Oversight Board to the Successor Agency
of the Poway Redevelopment Agency
00
O
Recognized Obligation Payment Schedule (ROPS 17 -18) - Summary
Filed for the July 1, 2017 through June 30, 2018 Period
Successor Agency: Poway
County: San Diego
17 -18A Total 17 -18B Total
Current Period Requested Funding for Enforceable Obligations (ROPS Detail) (July - December) (January - June) ROPS 17 -18 Total
A Enforceable Obligations Funded as Follows (B +C +D):
$ 79,982 $
590,814 $
670,796
B Bond Proceeds
-
-
-
C Reserve Balance
-
-
-
D Other Funds
79,982
590,814
670,796
E Redevelopment Property Tax Trust Fund (RPTTF) (F +G):
$ 8,302,764 $
7,168,867 $
15,471,631
F RPTTF
8,086,345
6,952,448
15,038,793
G Administrative RPTTF
216,419
216,419
432,838
H Current Period Enforceable Obligations (A +E):
$ 8,382,746 $
7,759,681 $
16,142,427
M
X
Z
Cr
Certification of Oversight Board Chairman:
Pursuant to Section 34177 (o) of the Health and Safety code, I hereby
certify that the above is a true and accurate Recognized Obligation
Payment Schedule for the above named successor agency.
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Lois Fong -Sakai Chair
Name Title
/s/ 19- Jan -17
Signature Date
to
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Poway Recognized Obligation Payment Schedule CROPS 17 -18) - ROPS Detail
July 1, 2017 through June 30, 2018
(Rep ort Amounts in Whole Dollars
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
17 -18A (Jul - December)
17 -18B (Janus - June)
Fund Sources
Fund Sources
Contract/Agreement
Contract/Agreement
Total Outstanding
ROPS 17 -18
17 -18A
17 -18B
Item #
Project Name /Debt Obligation
Obligation Type
Execution Date
Termination Date
Payee
Description /Project Scope
Project Area
Debt or Obligation
Retired
Total
Bond Proceeds
Reserve Balance
Other Funds
RPTTF
Admin RPTTF
Total
Bond Proceeds
Reserve Balance
Other Funds
RPTTF
Admin RPTTF
Total
$ 224,171,389
$ 16,142,427
$ -
$ -
$ 79,982
$ 8,086,345
$ 216,419
$ 8,382,746
$ -
$ -
$ 590,814
$ 6,952,448
1 $ 216,419
$ 7,759,681
5
2005 Certificates of Panic
Bonds Issued On or Before
6/29/1995
8/112017
US Bank
Bonds issue to fund non-Hsg projects
438,600
N
$ 438,600
79 982
358,618
$ 438,600
$ -
10
Owner Participation Agreement
OPA/DDA/Construction
312611999
1/12/2037
Parkway III
Public Improvements
-
Y
$ -
$ -
$ -
12
Owner Participation Agreement
OPA/DDA/Construction
3/12/2002
12/31/2018
AZ Poway, LLC
Operating Covenant
295,000
N
$ 130,000
130,000
1/1212037
City Special Programs
Hsg Capacity Building perjudgment
N
-
Fund
e
26
Contract for Legal Services
Legal
10/1/2011
10/1/2014
Goldfarb & Lipman
Legal Services for Toyota ground
-
N
$ -
$ -
$ -
lease
32
Contrail for remediation services
Remediation
12/2!2011
6/30/2018
American Technologies
Repair & Remediation -13053 Poway
20.000
N
$ 20,000
10..000
$ 10,000
10,000
-
$ 10,000
Road
40
Contract for consulting services
Professional Services
7/10!2008
4/15/2013
Keyser Marston Assoc
Financial consulting Svcs - BP Rest
34,591
N
$ 10,000
5,000
$ 5,000
5,000
-
$ 5,000
Site
-' 41
Contract for consulting services
{
SCS Engineers
Environmental monitoring - Twin
N
-
Peaks
48
Contract for landscape svcs
Property Maintenance
7/1/2012
6/30/2013
Benchmark
Landscape main svcs - BP Rest Site
3,200
N
$ 1,806
903
$ 903
903
-
$ 903
50
Contract for utility service
Property Maintenance
4/1/2008
6/30/2018
City of Poway
Water utility service - Dunster
2,000
N
$ 1,000
500
$ 500
500
$ Soo
52
Reciprocal Easement Agmt
OPA/DDA/Construction
8/10/2007
6/30/2018
Ocean Park Hotels
40% of Common Area Maintenance
40,000
N
$ 10.000
5,000
$ 5.000
5.000
-
$ - 5,000
.,
Contract rtbnea7e
Maintenance �:
,... >.
55
Property Maintenance
911/2012 -
8/31/2013
Orkin
Pest control services - Big Ston
N
Contract for Pest Control
.
,.
Lodge
60
Contract forarbitrage services
Professional Services
1/1312005
6/3/2013
Arbitrage Compliance Sp.
Bond arbitrage calculations
12,550
N
$ 4,200
4,200
$ 4,200
$ -
611
Bond administration
Professional Services
3/17/2000
6/1512033
US Bank
Trustee services
68,000
N
$ 8,000
4,000
$ 4,000
4,000
$ 4,000
64
Poway TV Lease Agreement-
Property Maintenance
10/1412008
6/3012018
Poway TV
Property Maintenance
20,000
N
$ 10,000
5,000
$ 5,000
5,000
-
$ 5,000
vendor
66
Horizon Hospice Lease Agreement-
Property Maintenance
10/30/2009
6130/2018
Horizon Hospice
Property Maintenance
32,000
N
$ 16,000
8,000
$ 8,000
8,000
-
$ 8,000
vendor
68
Poway Stoway Lease Agreement-
Property Maintenance
5/1/2009
5/1/2013
Poway Stoway
Property Maintenance
10,000
N
$ 10,000
5,000
$ 5,000
5,000
-
$ 5,000
vendor
70
Auto Storage Lot Lease Agreement-
Property Maintenance
7/1/2010
7/1/2015
Poway Business Park
Property Maintenance
-
Y
$ -
$ -
$
vendor
Association
247
Contract for Legal Services
Legal
8/2/2011
8/1/2014
Kane. "all & Berkman
General legal services of RDA
20,000
N
$ 10,000
5,000
$ 5,000
5,000
-
$ 5,000
'
6 -
Pinpoint Pesf:.
Bee remediation services for SA
N
properties
t Contro acent SA Prope es
Property Maint
6/3012
sf Control
Pest Control for Va
-
- -`
wable Housing Admin Expense
Admin Costs
7/1/2018 :"
ority
Administration of
00,0
271
City Loan # OSB 14-002
City/County Loans On or
4/30/2014
6/30/2032
City of Poway
Loan for Redevelopment purposes
1,096,918
N
$ 73,128
$ -
73,128
$ 73,128
Before 6/27111
272
City Loan # OSB 14-003
City/County Loans On or
4/30/2014
6/30/2032
City of Poway
Loan for Redevelopment purposes
N
$
$ -
$
Before 6/27/11
.:...,.
_.... - -.
Poway
"ses
..
_
_.
Before 6/27111
-
274
City Loan # OSB 14 -005
City/County Loans On or
4/30/2014
6/30/2032s
City of Poway
Loan for Redevelopment purposes
•;
N
?
}.
Before 6127/11
-"
-
'' ""
275
City Loan # OSB 14 -006
City/County Loans On or
4/30/2014
6/30/2032.
City of Poway
Loan for Redevelopment purposes
N
Before 6127111
276
City Loan # OSB 14 -007
City/County Loans On or
4/3012014 ':
6/30/2032'
City of Poway
Loan for Redevelopment purposes
N
277
City Loan # OSB 14 -008
City /County Loans On or
4/3012014
6/3012032
City of Poway
Loan for Redevelopmen! puposes.
2,346,096
N
$ 156,407
$ -
156,407
$ 156,407
Before 6/27/11
278
City Lo .
Loans On or
4/30/
6/
City of Poway
Loan for Redevelopment purposes
...:, ...,
!11
..::
:.
279
City/County Loans On or
6/30/203
City of Poway - :
Loan for Redevelopment purposes
City Loan # OSB 14 -010
Before 6127111
280
City of Poway
Loan for Redevelopment purposes
135,336
N
$ 9,023
$ -
$ 9,023
City Loan # OSB 14 -011
City /County Loans On or
4/30/2014
6/30/2032
9,023
Before 6127/11
281
City Loan # OSB 14-012
City/County Loans On or
4/30/2014
6/30!2032
City of Poway
Loan for Redevelopment purposes
1,317,646
N
$ 87,843
$ -
87,843
$ 87,843
Before 6/27/11
282
City Loan # OSB 14-013
City/County Loans On or
Before 6/27111
4/30/2014
6/30/2032
City of Poway
Loan for Redevelopment purposes
565,917
N
$ 37,728
$
37,728
$ 3711,728
$
10,220
$ 10,220
283
3
City Loan # OSB 14-014
City/County Loans On or
Before 6127/11
4/30/2014
6/3012032
City of Poway
Loan for Redevelopment purposes
153,291
N
$ 10,220
284
City Loan # OSS 14-015
City/County Loans On or
4/30/2014
6/30/2032
City of Poway
Loan for Redevelopment purposes
139,154
N
$ 9,277
$ -
9,277
$ 9,277
Before 6127/11
285
City Loan # OSB 14-016
City/County Loans On or
413012014
6/30/2032
City of Poway
Loan for Redevelopment purposes
66,468
N
$ 4,432
$ -
4,432
$ 4,432
Before 6/27/11
ity Loan # OSB 14-017
.'r
4/30/2014
6/30/20321
City of Poway
a =287
City Loan # OSB 14-019
City/County Loans On or
4/30/2014
6/30/2032
City of Poway XLoan
for Redevelopment purposes
N
l
288
Allowable Admin Expense
Admin Costs
2/1/2012
6/15/2033
City of Poway
Administration of Successor Agency
6,780,000
N
$ 432,838
216,419
$ 216,419
216,419
$ 216,419
289
Appraisal Services
Professional Services
7/1/2015
6/30/2020
TBD
Appraisals required for LRPMP
30,000
N
$ 30,000
15,000
$ 15,000
15,000
-
$ 15,000
approved property dispositions
291
2015 Retunfng Bonds Series A
Bonds Issued After 12/31/10
6/3!2015
6/15/2033
US Bank
Bonds issued to refund 2000, 2001
197,104,300
N
$ 6,601,050
3,300,525
$ 3,300,525
531,411
2,769,114
$ 3,300,525
292
2015 Refunfing Bonds Series B
Bonds Issued After 12/31110
6/3/2015
6/15/2019
US Bank
and 2003 TABS
Bonds issued to refund 2007 TABS
12,570,012
N
$ 7,406,375
3,704,599
$ 3,704,599
3,701,776
$ 3,701,776
293
2015 Refunding Bonds Series A &B
Professional Services
7/1/2017
6/30/2033
Keyser Marston Assoc
Continuing Disclosure
270,310
N
$ 14,500
$ -
14,500
$ 14,500
294
N
1 $
is
$
295
N
$ -
$ -
$ -
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Poway Recognized Obligation Payment Schedule (ROPS 17 -18) - Report of Cash Balances
(Report Amounts in Whole Dollars)
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 ROPS, but only to the extent no other funding source is available
or when r)avment 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.
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A
B
C
D
E
F
G
H
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Fund Sources
Bond Proceeds
Reserve Balance
Other
RPTTF
Prior ROPS
Prior ROPS
RPTTF
Bonds issued on
period balances
distributed as
Rent,
Non - Admin
or before
Bonds issued on
and DDR RPTTF
reserve for future
grants,
and
Cash Balance Information by ROPS Period
12/31/10
or after 01/01/11
balances retained
period(s)
interest, etc.
Admin
Comments
ROPS 15 -16B Actuals (01/01/16 - 06/30/16)
1
Beginning Available Cash Balance (Actual 01/01/16)
150,801
262,791
2
Revenue /Income (Actual 06/30/16)
RPTTF amounts should tie to the ROPS 15 -16B distribution from the
County Auditor - Controller during June 2016
1,361
3,806,436
7,791,887
3
Expenditures for ROPS 15 -16B Enforceable Obligations (Actual
06/30/16)
746,594
7,698,908
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 -16B RPTTF Balances Remaining
No entry required
6
Ending Actual Available Cash Balance
CtoG =(1 +2 -3 -4), H =(1 +2- 3 -4 -5)
$ 152,162
$ -
$ -
$ -
$ 3,059,842
$ 355,770
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Poway Recognized Obligation Payment Schedule (ROPS 17 -18) - Notes July 1, 2017 through June 30, 2018
Item # I Notes /Comments
Cash Balances Line One: Dec 31, 2015 Cash Balance was $170,295, to which I added the ROPS 14 -15B prior period adjustment amount of $92,496.
The Other Revenue includes the remaining funds on hand with the City for the Smith Judgment of $3,059,842. Because the Court sided with the DOF
these funds were moved to the Successor Agency.
The City loans were recalculated using the approved 3% interest rate.
49 16 -17 authorized RPTTF $14,146,221 + amendment $520,185 - loan repayments $238,479 x 3%
272 This line is not in "red," but per the DOF letter dated 11 -7 -14 this loan did not receive DOF approval?
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Exhibit B
SUCCESSOR AGENCY TO THE POWAY REDEVELOPMENT AGENCY
RECOGNIZED OBLIGATION PAYMENT SCHEDULE 17 -18
FY 17 -18 ADMINISTRATIVE BUDGET
JULY 1, 2017 - JUNE 30, 2018
This document constitutes the Administrative Budget of the Successor Agency to the
Poway Redevelopment Agency, pursuant to AB X1 26 (as amended by AB 1484), which
requires the dissolution and wind -down of the affairs of the former Poway Redevelopment
Agency. This Administrative Budget has been prepared by the Successor Agency and will
be submitted to the Oversight Board for approval in accordance with the requirements of
Health and Safety Code (HSC) Section 341770). This Administrative Budget will also be
provided to the County Auditor Controller (CAC) as required by HSC 34177(k).
This Administrative Budget accompanies the Successor Agency's Recognized Obligation
Payment Schedule (ROPS) 17 -18 prepared pursuant to HSC 34177(1) for the period July 1,
2017 through June 30, 2018. It should be noted this budget includes the general
administrative costs of the Successor Agency only. This budget does not include
administrative costs associated with work on specific projects or program implementation
activities; project- specific administrative costs are set forth separately on the ROPS.
This Administrative Budget is prepared in three parts in accordance with HSC 341770)(1),
(2), and (3), and it demonstrates the Successor Agency's "administrative cost allowance,"
as defined and authorized by HSC 34171(b). As required by HSC 34177(k), the Successor
Agency will report to the CAC that its administrative cost allowance to be paid from property
taxes deposited in the Redevelopment Property Tax Trust Fund is $432,838.
A. Estimated amounts for Successor Agency administrative costs for the upcomin
one -year fiscal period (HSC 34177(m)(1)).
Successor Agency to the Poway Redevelopment Agency
Administrative Budget - July 1, 2017 to June 30, 2018
Activities may be added, revised, or deleted from this listing as necessary and
appropriate during the course of the former Redevelopment Agency wind -down
process. The costs shown are estimates only. Actual costs required may be higher
or lower than the amount shown, not to exceed the aggregate total.
12 of 14 Exhibit B January 19, 2017 Item # 1
FY 16 -17 Administrative Budget - July 1, 2017 through June 30, 2018
Page 2
B. Proposed sources of payment for the administrative costs identified for the upcoming
one -year fiscal period (HSC 34177(i)(2)).
As authorized pursuant to HSC 34183(a)(3), the proposed sources of payment for
the identified administrative costs is the Redevelopment Property Tax Trust Fund
established and maintained by the CAC pursuant to HSC 34170.5(b).
C. Proposals for arrangements for administrative and operations services provided by
the City or other entities (HSC 34177(1)(3)).
The City of Poway will provide staff services and office materials and equipment to
administer the responsibilities of the Successor Agency and will draw upon the
services of outside consultants to provide special services for the wind -down of the
former Redevelopment Agency to the extent City staff lacks the necessary expertise
or capacity.
13 of 14 January 19, 2017 Item # 1
Exhibit C
POWAY HOUSING AUTHORITY
RECOGNIZED OBLIGATION PAYMENT SCHEDULE 17 -18
FY 17 -18 ADMINISTRATIVE BUDGET
JULY 1, 2017 —JUNE 30, 2018
This document constitutes the Administrative Budget of the Poway Housing Authority
pursuant to AB 471. This Administrative Budget has been prepared by the Successor
Agency to the Poway Redevelopment Agency and will be listed on the ROPS 17 -18 to be
submitted for Oversight Board and Department of Finance approval, in accordance with the
requirements of Health and Safety Code (HSC) Section 34171(p).
HSC 34171, as amended by AB 471:
(p) From July 1, 2014, to July 1, 2018, inclusive, "housing entity administrative cost
allowance" means an amount of up to 1 percent of the property tax allocated to the
Redevelopment Obligation Retirement Fund on behalf of the successor agency for each
applicable fiscal year, but not less than one hundred fifty thousand dollars ($150,000) per
fiscal year.
(1) If a local housing authority assumed the housing functions of the former
redevelopment agency pursuant to paragraph (2) or (3) of subdivision (b) of Section
34176, then the housing entity administrative cost allowance shall be listed by the
successor agency on the Recognized Obligation Payment Schedule. Upon approval of
the Recognized Obligation Payment Schedule by the oversight board and the
department, the housing entity administrative cost allowance shall be remitted by the
successor agency on each January 2 and July 1 to the local housing authority that
assumed the housing functions of the former redevelopment agency pursuant to
paragraph (2) or (3) of subdivision (b) of Section 34176.
(2) If there are insufficient moneys in the Redevelopment Obligations Retirement Fund
in a given fiscal year to make the payment authorized by this subdivision, the unfunded
amount may be listed on each subsequent Recognized Obligation Payment Schedule
until it has been paid in full. In these cases the five -year time limit on the payments shall
not apply.
Consistent with these provisions, the Successor Agency has included a "housing entity
administrative cost allowance" of $150,000 on ROPS 17 -18, for the one -year period
beginning July 1, 2017 through June 30, 2018. This amount represents the minimum
annual allowance. Additionally, the Successor agency has included $450,000 on the ROPS
17 -18 for the twenty- four -month period July 1, 2014 through June 30, 2017 for previous
housing entity administrative cost allowances that were denied by the California
Department of Finance.
14 of 14 Exhibit C January 19, 2017 Item # 1