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HomeMy WebLinkAboutOB Reso 03-2015 RESOLUTION NO. 03-2015 OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF SOUTH SAN FRANCISCO APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS) AND ADMINISTRATIVE BUDGET FOR THE PERIOD JULY THROUGH DECEMBER 2015, PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177(1) WHEREAS,pursuant to Health and Safety Code Section 34177(1), before each six-month fiscal period, the Successor Agency to a dissolved Redevelopment Agency is required to prepare a draft Recognized Obligation Payment Schedule ("ROPS") that lists all of the obligations that are "enforceable obligations" within the meaning of Health and Safety Code Section 34177, and which identifies a source of payment for each such obligation from among (i) bond proceeds, (ii) reserve balances, (iii) the administrative cost allowance, (iv) revenues from rents, concessions, interest earnings, loan repayments, or asset sales, or (v) the Redevelopment Property Tax Trust Fund established by the County Auditor-Controller to the extent no other source of funding is available or payment from property tax is contractually or statutorily required; and WHEREAS, the draft ROPS must be concurrently submitted to the County Administrative Officer, the County Auditor-Controller, the State Department of Finance and the Oversight Board established to review Successor Agency actions; and WHEREAS, pursuant to Health and Safety Code Section 34177(j), the Successor Agency also must prepare a proposed administrative budget and submit it to the Oversight Board for approval, including the estimated amounts for Successor Agency administrative costs for the upcoming six-month fiscal period and proposed sources of payment for those costs; and WHEREAS, once the ROPS is approved by the Oversight Board, the ROPS must be posted on the Successor Agency's website and transmitted to the County Auditor-Controller, the State Department of Finance, and the State Controller. NOW, THEREFORE, the Oversight Board for the Successor Agency to the Redevelopment Agency of the City of South San Francisco does hereby resolve as follows: 1. The Recitals set forth above are true and correct, and are incorporated herein by reference. 2. The Recognized Obligation Payment Schedule (ROPS) and administrative budget for the period July 1 through December 31, 2015 attached hereto as Exhibit A are hereby approved. 3. The Finance Director is authorized to modify the ROPS to correct errors and provide clarifications consistent with requirements of the Department of Finance and the intent of this Resolution. 4. The City Manager or designee is authorized and directed to take all actions necessary to implement this Resolution, including without limitation, the submittal of the ROPS to the County Auditor-Controller, the County Administrative Officer, the State Department of Finance, and the State Controller, and the posting of this Resolution and the ROPS on the Successor Agency's website. 5. The Oversight Board Chairperson or Vice Chairperson in his absence is hereby authorized to certify the ROPS. I hereby certify that the foregoing Resolution was regularly introduced and adopted by the Oversight Board of the Successor Agency to the Redevelopment Agency of the City of South San Francisco at a regular meeting held on the 17th of February, 2015 by the following vote: AYES: Boardmembers Addiego, Christensen, Farrales, Scannell, Gross, Chairperson Cullen. NOES: None. ABSTAIN: None. 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EE ±&# ! ` g! mo ! ■! a gag§ §k | k- )!\ 2 1�Pif 3 fO- ! $ §$(k2E k ill g 2 11131.g§ � . g#z$ ` . .. 2„2 . k. o Ec..a kgcakf ©7 X7221 111} 418 ■ 2 '4gE �2Iij� >£- #= § E| f :; §li .t . . � g | 2g 2g1{22} S#A2 1 FEE LA 2 :01121S8 ” 2 k26ar0 0 61 )2} N. * .- $ 2 G U) A ,( J EXHIBIT B Successor Agency Administrative Budget ROPS 15-16A July - December 2015 Professional&Specialized Services Staff Consultant(Armando Sanchez) $20,000.00 Legal Consultants(Meyers Nave&Craig Labadie) $25,000.00 Subtotal $45,000.00 Meeting expenses,office supplies, postage,copies, printing services,special Supplies and Services noticing etc... $10,000.00 Subtotal $10,000.00 Position Title FTE Employee Costs FY15-16 (Semi- Annual) Director of Finance 4% $ 11,740.09 Adminstrative Assistant II 5% $ 7,000.65 Assistant City Manager 4% $ 13,364.60 City Manager 2% $ 7,209.51 Sr Accountant 3% $ 5,145.39 ECD Coordinator 3% $ 5,860.12 Management Analyst 5% $ 7,778.50 ECD Director 3% $ 6,652.74 Accounting Assistant II 3% $ 3,321.58 Sr Financial Analyst 5% $ 8,575.65 Miscellaneous staff 3% $ 6,571.61 City Clerk 3% $ 6,779.55 Subtotal 40% 90,000.00 GRAND TOTAL $145,000.00 Notes: 1 —Staff costs include payroll, benefits,and retirement costs 2--Payment source for six month period is from the Administrative Allowance 3--Maximum administrative costs are based on 3%the total estimated net new funding needs on the ROPS Exhibit C ROPs 15-16A SUPPORT FOR ESTIMATED OTHER REVENUES APPEARING ON THE JULY THROUGH DECEMBER 2015 ROPS (Includes a True Up component for Other Revenues estimated on ROPS 14-15A) Estimated Other Revenue Item# Source of Revenue Six Month Total 1) Rents $ 224,400.00 2) Interest on Investments $ 1,000.00 3) Interest from Business Loans $ - 4) Principal from Business Loans $ - Estimated Repayment from Oyster Point Impact Fee 5) Interfund Loan $ - Total Other Revenue, July to December 2015 $ 225,400.00 Other Revenue From Prior Periods Difference between ROPS 14-15A estimated Other 6) Revenue and Actual Revenue $ 119,945.03 Excess Cash Balance reported to DOF in October 7) 2014 $ 118,144.00 Total Available Other Funds $ 463,489.03 Rounded Total Used on ROPS $ 463,500.00