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Home My WebLink AboutSuccessor Reso 01-2019 (18-1140)City of South San Francisco Successor Agency Resolution: RES 01-2019 File Number: 18-1140 P.O. Box 711 (City Hall, 400 Grand Avenue) South San Francisco, CA Enactment Number: RES 01-2019 RESOLUTION OF THE SUCCESSOR AGENCY TO THE FORMER REDEVELOPMENT AGENCY OF THE CITY OF SOUTH SAN FRANCISCO REVIEWING AND APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD JULY 1, 2019 THROUGH JUNE 30, 2020, PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177(L). WHEREAS, pursuant to Part 1.85 of Division 24 of the California Health and Safety Code (HSC) Section 34170 et seq. (Dissolution Act), the Former Redevelopment Agency of the City of South San Francisco (RDA) was dissolved as of February 1, 2012; and WHEREAS, the Successor Agency to the Former Redevelopment Agency of the City of South San Francisco (Successor Agency) succeeded to all assets, properties, contracts, leases, books and records, buildings, and equipment of the former RDA and, except as repealed, restricted, or revised by the Dissolution Act, was vested with all authority, rights, powers, duties and obligations under the California Community Redevelopment Law (HSC Section 33000 et seq.) previously vested with the former RDA; and WHEREAS, pursuant to Health and Safety Code Section 34177(1), before each 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, Successor Agency staff has prepared a ROPS for the July 1, 2019 through June 30, 2020 fiscal period (BOPS 19-20), which, pursuant to HSC Section 34177(1), must be approved by the San Mateo Countywide Oversight Board (Oversight Board) and submitted to the State Department of Finance (DOF) no later than February 1, 2019; and WHEREAS, the Oversight Board will review ROPS 19-20 on January 14, 2019; and WHEREAS, the Successor Agency desires to approve the ROPS and transmit it to various parties as required by the Dissolution Act. NOW, THEREFORE, the Successor Agency to the Redevelopment Agency of the City of South San Francisco, does hereby resolve as follows: City of South San Francisco Page 1 Fite Number: 18-1140 Enactment Number: RES 01-2019 The Recitals set forth above are true and correct, and are incorporated herein by reference; The draft ROPS attached hereto as Exhibit A was prepared by the Successor Agency, reviewed and approved by the Successor Agency Board, and will be submitted to the Oversight Board; The City Finance Director or designee is authorized to modify the draft ROPS to correct errors, to update the ROPS if necessary as a result of subsequent review by the Oversight Board, and provide clarifications consistent with requirements of the State Department of Finance and the intent of this Resolution; The Executive Director of the Successor Agency or designee is authorized and directed to take all actions necessary to implement this Resolution, including without limitation, the submittal of the draft ROPS to the Oversight Board, 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 draft ROPS on the Successor Agency's website; The Finance Director or designee is authorized to incorporate the items on the ROPS into the 2019-20 operating budget once the ROPS is approved; The Executive Director and the Finance Director, and their designees, are authorized and directed to take such actions as necessary and appropriate to carry out and implement the intent of this Resolution, including without limitation, the establishment of separate accounts and funds as necessary to appropriately document the receipts and expenditures of the Successor Agency. The Executive Director of the Successor Agency and/or his designee are authorized to execute contracts and agreements for the items listed on the July 1, 2019 through June 30, 2020 ROPS, as approved by the Oversight Board, up to the amounts specified on the approved ROPS for such items, unless specifically directed otherwise by the Oversight Board. At a meeting of the Special Successor Agency to the Redevelopment Agency on 1/9/2019, a motion was made by Mark Addiego, seconded by Flor Nicolas, that this Resolution be approved. The motion passed. Yes: 5 Chairperson Matsumoto, Addiego, Vice Chair Garbarino, Nagales, and Nicolas Attest by �j /8' osa Govea Acosta City of South San Francisco Page 2 Successor Agency:South San Francisco County:San Mateo Current Period Requested Funding for Enforceable Obligations (ROPS Detail) 19-20A Total (July - December) 19-20B Total (January - June) ROPS 19-20 Total A 137,234$ -$ 137,234$ B - - - C 136,234 - 136,234 D 1,000 - 1,000 E 2,354,200$ -$ 2,354,200$ F 2,240,434 - 2,240,434 G 113,766 - 113,766 H Current Period Enforceable Obligations (A+E):2,491,434$ -$ 2,491,434$ Name Title /s/ Signature Date Administrative RPTTF 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. Recognized Obligation Payment Schedule (ROPS 19-20) - Summary Filed for the July 1, 2019 through June 30, 2020 Period Enforceable Obligations Funded as Follows (B+C+D): RPTTF Redevelopment Property Tax Trust Fund (RPTTF) (F+G): Bond Proceeds Reserve Balance Other Funds EXHIBIT A Page 1 of 4 A B C D E F G H I J K L M N O P Q R S T U V W Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF $ 29,025,537 $ 2,491,434 $ 0 $ 136,234 $ 1,000 $ 2,240,434 $ 113,766 $ 2,491,434 $ 0 $ 0 $ 0 $ 0 $ 0 $ - 7 Debt Serv Principal Hsg Rev Bonds Bonds Issued On or Before 1/1/1999 9/1/2018 Bank of New York 1999 Housing Revenue Bonds Merged 0 Y $ - $ - $ - 8 Debt Serv Interest Hsg Rev Bonds Bonds Issued On or Before 12/31/10 1/1/1999 9/1/2018 Bank of New York 1999 Housing Revenue Bonds Merged 0 Y $ - $ - $ - 11 Bond Admin/Disc Costs Hsg Bonds Fees 1/1/1999 9/1/2018 Bank of New York/Willdan Costs to administer the housing bonds Merged 1,000 N $ 1,000 1,000 $ 1,000 $ - 12 Oyster Point Ventures DDA OPA/DDA/Construction 3/23/2011 11/11/2026 Oyster Pt Ventures, LLC DDA Sections 3.2.1 Phase IC Improvements and 3.4.1 Improvement Costs Merged 2,038,486 N $ 2,038,486 2,038,486 $ 2,038,486 $ - 13 Oyster Point Ventures DDA OPA/DDA/Construction 3/23/2011 11/11/2026 Various contractors/staff DDA Section 5.2 Environmental Indemnification Merged 20,000,000 N $ 101,948 101,948 $ 101,948 $ - 14 Oyster Point Ventures DDA Project Management Costs 3/23/2011 11/11/2026 Legal/Staff costs Soft project management costs Merged 1,163,144 N $ 100,000 100,000 $ 100,000 $ - 16 Harbor District Agreement Improvement/Infrastructure 3/25/2011 11/11/2026 Harbor District Secs. 5.0 lease rev; 7.0 temp. office Merged 1,793,248 N $ - $ - $ - 17 Harbor District Agreement Project Management Costs 3/25/2011 11/11/2026 Legal/Staff costs Soft project management costs Merged 798,341 N $ - $ - $ - 21 Train Station Imprvmnts Ph 1(pf1002) Remediation 3/11/2009 12/31/2014 TechAccutite/Wisley Ham Contracted work-site remediation Merged 87,494 N $ - $ - $ - 22 Train Station Imprvmnts Phase 1 Project Management Costs 3/11/2009 12/31/2014 Staff Costs Soft project management costs Merged 9,309 N $ - $ - $ - 23 Train Station Imprvmnts Phase 2 Remediation 12/9/2009 12/31/2014 Various contractors Site remediation per Cal Trans Agrmt.Merged 620,000 N $ - $ - $ - 24 Train Station Imprvmnts Phase 2 Project Management Costs 12/9/2009 12/31/2014 Legal/Staff costs Soft project management costs Merged 148,115 N $ - $ - $ - 45 Maintenance of Non-Hsg Properties Property Maintenance 2/1/2012 12/31/2014 Various contractors Rehab, repair, maintenance, & utilities Merged Y $ - $ - $ - 46 Maintenance of Non-Hsg Properties Property Maintenance 2/1/2012 12/31/2014 Legal/Staff costs Soft project management costs Merged Y $ - $ - $ - 47 Administration Costs Admin Costs 2/1/2012 12/31/2014 Various contractors/misc Costs to administer Successor Agency Merged 0 Y $ - $ - $ - 48 Administration Costs Admin Costs 2/1/2012 12/31/2014 Legal/Staff costs Costs to administer Successor Agency Merged 2,000,000 N $ 250,000 136,234 113,766 $ 250,000 $ - 49 Property Disposition Costs Property Dispositions 2/1/2012 12/31/2014 Various contractors Initial envir. testing, noticing, listing costs Merged Y $ - $ - $ - 50 Property Disposition Costs Property Dispositions 2/1/2012 12/31/2014 Legal/Staff costs Soft project management costs Merged Y $ - $ - $ - 51 Accrued PERS Pension Obligations Unfunded Liabilities 1/1/1980 6/30/2016 CalPERS Costs incurred through 02/01/2012 Merged 168,800 N $ - $ - $ - 52 Accrued Retiree Health Obligations Unfunded Liabilities 1/1/1980 6/30/2016 CalPERS Retiree Benefit Trust (CERBT) Costs incurred through 02/01/2012 Merged 197,600 N $ - $ - $ - 57 1999 Housing Bond Proceeds Bond Funded Project – Housing 10/23/2013 12/31/2014 Future Developer To be used on low/mod housing dev Merged 0 Y $ - $ - $ - 69 630-634 El Camino Real Tenant Improvement Project Management Costs 3/1/2011 2/28/2086 TBD Tenant improvements for tenant space 3 Merged Y $ - $ - $ - 70 Line 14 FY 15-16 Additional Expense RPTTF Shortfall 3/23/2011 11/11/2026 Legal/Staff costs Soft project management costs 0 Y $ - $ - $ - 71 Line 14 FY 16-17 Additional Expense RPTTF Shortfall 3/23/2011 11/11/2026 Legal/Staff costs Soft project management costs 0 Y $ - $ - $ - 72 Line 8 Interest Payment made but not reported on FY 16-17 RPTTF Shortfall 1/1/1999 9/1/2018 Bank of New York 1999 Housing Revenue Bonds 0 Y $ - $ - $ - Fund Sources Fund Sources Contract/Agreement Termination Date ROPS 19-20 Total 19-20B (January - June) 19-20A Total South San Francisco Recognized Obligation Payment Schedule (ROPS 19-20) - ROPS Detail July 1, 2019 through June 30, 2020 (Report Amounts in Whole Dollars) Item #Payee Description/Project Scope Project Area Total Outstanding Debt or Obligation Retired 19-20A (July - December) 19-20B Total Project Name/Debt Obligation Obligation Type Contract/Agreement Execution Date Page 2 of 4 A B C D E F G H Reserve Balance Other Funds RPTTF Bonds issued on or before 12/31/10 Bonds issued on or after 01/01/11 Prior ROPS RPTTF and Reserve Balances retained for future period(s) Rent, Grants, Interest, etc. Non-Admin and Admin 1 Beginning Available Cash Balance (Actual 07/01/16) RPTTF amount should exclude "A" period distribution amount 57,902,849 29,890,810 685,660 0 C: 1999 Housing Proceeds ($52,789,887) and Reserves ($349,278), 2006A Bond Reserves ($4,763,684) E: Prior Period RPTTF Held in BNY Escrow Account for Oyster Point ($29,414,134) and Reserve Balances available from ROPS 15-16 ($476,676) F: Matches Other Funds balance as of 6/30/16 reported on ROPS 18-19 2 Revenue/Income (Actual 06/30/17) RPTTF amount should tie to the ROPS 16-17 total distribution from the County Auditor-Controller 637,339 58,939 396,556 1,679,750 C: Interest E: Interest F: Rents, Interest 3 Expenditures for ROPS 16-17 Enforceable Obligations (Actual 06/30/17) 58,229,679 0 0 529,829 C: 2006A Revenue Bond payoff ($58,175,509), 1999 Housing Bond Reserve Excess Proceed Transfer ($54,169) 4 Retention of Available Cash Balance (Actual 06/30/17) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 0 29,813,515 1,193,770 0 E: Funds reserved in BNY Escrow Account for Oyster Point ($29,473,074) plus Reserve Balance expenses approved on ROPS 18-19 ($340,442). F: Amount approved from "Other Funds" on ROPS 17-18 ($684,785) and 18-19 ($508,985). 5 ROPS 16-17 RPTTF Prior Period Adjustment RPTTF amount should tie to the Agency's ROPS 16-17 PPA form submitted to the CAC 1,149,921 H: Matches PPA for ROPS 16-17 under review by the County Auditor-Controller 6 Ending Actual Available Cash Balance (06/30/17) C to F = (1 + 2 - 3 - 4), G = (1 + 2 - 3 - 4 - 5) 310,509$ 0$ 136,234$ (111,554)$ 0$ C: 1999 Housing Bond Reserves E: $136,234 of Reserve Balances remaining from ROPS 15-16 true-up according to DOF's ROPS 18-19 Determination Letter. Applied to ROPS 19-20 Item 48. No entry required South San Francisco Recognized Obligation Payment Schedule (ROPS 19-20) - Report of Cash Balances July 1, 2016 through June 30, 2017 (Report Amounts in Whole Dollars) Pursuant to Health and Safety Code section 34177 (l), 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 payment 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. Fund Sources Comments Bond Proceeds ROPS 16-17 Cash Balances (07/01/16 - 06/30/17) Page 3 of 4 Item #Notes/Comments 47 All administrative costs have been consolidated under Item 48 South San Francisco Recognized Obligation Payment Schedule (ROPS 19-20) - Notes July 1, 2019 through June 30, 2020 Page 4 of 4