Loading...
HomeMy WebLinkAbout2019-01-09 e-packet@6:30Wednesday, January 9, 2019 6:30 PM City of South San Francisco P.O. Box 711 (City Hall, 400 Grand Avenue) South San Francisco, CA Municipal Services Building, Council Chambers 33 Arroyo Drive, South San Francisco, CA Special Successor Agency to the Redevelopment Agency Special Meeting Agenda January 9, 2019Special Successor Agency to the Redevelopment Agency Special Meeting Agenda NOTICE IS HEREBY GIVEN, pursuant to Section 54956 of the Government Code of the State of California, the Successor Agency to the Redevelopment Agency will hold a Special Meeting on Wednesday, January 9, 2019, at 6:30 p.m., in the City Council Chambers, Municipal Services Building, 33 Arroyo Drive, South San Francisco, California. Purpose of the meeting: Call To Order. Roll Call. Agenda Review. Public Comments - comments are limited to items on the Special Meeting Agenda. CLOSED SESSION Conference with Legal Counsel - Anticipated Litigation (Pursuant to Government Code Section 54956.9) Significant Exposure to Litigation: One Case (Jason Rosenberg, Agency Counsel) 1. ADMNISTRATIVE BUSINESS Report regarding resolutions of the Successor Agency to the Former Redevelopment Agency of the City of South San Francisco, reviewing and approving the submittal to the Successor Agency Oversight Board of a Recognized Obligation Payment Schedule and Administrative Budget for the period July 1, 2019 through June 30, 2020. (Justin Lovell, Acting Financial Services Manager; Suzy Kim, Senior Associate, Rosenow Spevaceck Group) 2. 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). 2a. Resolution of the Successor Agency to the Former Redevelopment Agency of the City of South San Francisco reviewing and approving the Successor Agency Administrative Budget for the period July 1, 2019 through June 30, 2020, pursuant to Health and Safety Code Section 34177(j) 2b. Adjournment. Page 2 City of South San Francisco Printed on 2/11/2019 City of South San Francisco Legislation Text P.O. Box 711 (City Hall, 400 Grand Avenue) South San Francisco, CA File #:18-1126 Agenda Date:1/9/2019 Version:1 Item #:1. Conference with Legal Counsel - Anticipated Litigation (Pursuant to Government Code Section 54956.9) Significant Exposure to Litigation: One Case (Jason Rosenberg, Agency Counsel) City of South San Francisco Printed on 1/3/2019Page 1 of 1 powered by Legistar™ City of South San Francisco Legislation Text P.O. Box 711 (City Hall, 400 Grand Avenue) South San Francisco, CA File #:18-1127 Agenda Date:1/9/2019 Version:1 Item #:2. Report regarding resolutions of the Successor Agency to the Former Redevelopment Agency of the City of South San Francisco,reviewing and approving the submittal to the Successor Agency Oversight Board of a Recognized Obligation Payment Schedule and Administrative Budget for the period July 1,2019 through June 30,2020.(Justin Lovell,Acting Financial Services Manager;Suzy Kim,Senior Associate,Rosenow Spevaceck Group) RECOMMENDATION It is recommended that the Successor Agency to the Former Redevelopment Agency of the City of South San Francisco:1)adopt a resolution approving the Successor Agency Administrative Budget for Fiscal Year 2019-20;and 2)adopt a resolution approving the Recognized Obligation Payment Schedule for Fiscal Year 2019-20 and approving submittal to the San Mateo Countywide Oversight Board. BACKGROUND Health and Safety Code (HSC)Section 34177(l)requires the Successor Agency to the Former Redevelopment Agency of the City of South San Francisco (Successor Agency)to prepare a Recognized Obligation Payment Schedule (ROPS)that requests funding for obligations on an annual basis.The ROPS for the period July 1, 2019 through June 30,2020 (ROPS 19-20)requests necessary payments for enforceable obligations of the Former Redevelopment Agency of the City of South San Francisco (RDA)for Fiscal Year 2019-20.HSC Section 34177(j)also requires the Successor Agency to prepare an Administrative Budget for Fiscal Year 2019- 20 (Administrative Budget) and submit it to the Oversight Board for approval. The San Mateo Countywide Oversight Board (Oversight Board)will consider approval of the ROPS 19-20 and Administrative Budget at its meeting on January 14,2019.If approved,the ROPS will be transmitted to the State Department of Finance (DOF)for review.The Administrative Budget is not required to be submitted to DOF. The Successor Agency has a statutory deadline of February 1,2019 to submit an Oversight Board-approved ROPS 19-20 to DOF.If it is not transmitted on time,the City and Successor Agency could be subject to a civil penalty of $10,000 per day.DOF shall make its determination to approve the ROPS no later than 45 days after submittal. DISCUSSION The ROPS 19-20 is included as Exhibit A of the resolution accompanying this staff report.A total of $2,491,434 is requested to fund ROPS 19-20 obligations,including $2,354,200 from Redevelopment Property Tax Trust Funds (“RPTTF”)and $137,234 from Other Funds and Reserve Balances.The request includes $250,000 to fund administrative costs. ROPS Obligations The ROPS 19-20 contains the following obligations: ·Items 7 and 8 -Debt Service on 1999 Housing Bonds -These bonds were paid off on the ROPS 18-19 City of South San Francisco Printed on 1/3/2019Page 1 of 4 powered by Legistar™ File #:18-1127 Agenda Date:1/9/2019 Version:1 Item #:2. ·Items 7 and 8 -Debt Service on 1999 Housing Bonds -These bonds were paid off on the ROPS 18-19 and will be retired. ·Item 11 -Bond Administration /Continuing Disclosure Cost -$1,000 is requested for continuing disclosure report fees required for the 1999 Housing Bonds. This is the final year a report is required. ·Items 12,13,and 14 -Oyster Point Ventures DDA -$2,240,434 is requested for enforceable obligations associated with Sections 3.2.1,3.4.1 and 5.2 of the DDA and for staff and legal expenses associated with Successor Agency implementation of the DDA. Item 12 requests $2,038,486 for additional costs associated with: 1)Imported cover soil and clay that is necessary for street and utilities to the hub (the Successor Agency is responsible for 20 percent of these costs)[3.2.1(i)(1)and (ii)],the streets and utilities to point [3.2.1(i)(2)and (ii)]and the reconfiguration and reconstruction of parking [3.2.1(ii)and (iii)]; 2)Cement mixing treatment to create a stable base for the streets and utilities at the hub,the streets and utilities to point and the reconfigured parking area (3.2.1 (i) (1 &2) and (iii); and 3)Off-haul of excess relocated solid waste from areas under the streets and utilities at the hub (20%Successor Agency Cost),the streets and utilities to the point and reconfigured parking areas [3.2.1(i)(2) and (iii)]. Item 13 requests $101,948 for the Successor Agency portion of the cost of off-haul of excess solid waste from the streets and utilities to the Hub (Section 5.2). Item 14 requests $100,000 for estimated project-related staff costs to implement these items. ·Item 16 and 17 -Harbor District Agreement Fees -There are no costs associated with Harbor District enforceable obligations in Fiscal Year 2019-20.The line items should remain on the ROPS as there are potential remaining enforceable obligations. ·Items 21,22,23,and 24 -Train Station Improvement Phases I &II Fees -No expenses are anticipated for these enforceable obligations in Fiscal Year 2019-20.The line items should remain on the ROPS as there are potential remaining enforceable obligations. ·Items 45 and 46 -Maintenance of Non-Housing Properties -These items will be retired.Former RDA properties were either transferred to the City as a governmental use or held for future redevelopment. Maintenance costs will be incurred by the City and possibly reimbursed through sales proceeds for properties that are sold. ·Item 47 -Administrative Costs:Various Contractors -This item will be retired.All administrative costs have been consolidated under Item 48. ·Item 48 -Administrative Cost Allowance -The Successor Agency is requesting $250,000 for Fiscal Year 2019-20 administrative expenses,which is within the maximum permitted by law.Administrative costs are needed to administer obligations and prepare required reports,such as the ROPS and audited financial statements.The Administrative Budget for Fiscal Year 2019-20 contains more detail,and is attached to the resolution accompanying this staff report. ·Items 49 and 50 -Property Disposition Costs -These items will be retired.Costs related to the property disposition of former RDA properties will be incurred by the City and reimbursed through sales proceeds. ·Items 51,52 and 57 -Various Expenses -No expenses are anticipated for these items on the ROPS 19- City of South San Francisco Printed on 1/3/2019Page 2 of 4 powered by Legistar™ File #:18-1127 Agenda Date:1/9/2019 Version:1 Item #:2. ·Items 51,52 and 57 -Various Expenses -No expenses are anticipated for these items on the ROPS 19- 20. ·Items 69 to 72- Various Expenses - These items will be retired. Report of Cash Balances The “Report of Cash Balances”page reports available cash balances by type in Fiscal Year 2016-17.As of June 30,2017,the Successor Agency had $136,234 in Reserve Balances leftover from prior ROPS periods.This amount has been allocated to ROPS Item 48,the Administrative Cost Allowance.There were also $310,509 in 1999 Housing Bond Reserves remaining as of June 30,2017.The Other Funds column shows a negative $111,554 balance.Staff expects this to balance out on future ROPS,as the $1.2 million reserved from Other Funds on the ROPS 17-18 and 18-19 may not be fully spent. The Successor Agency anticipates that a $1,149,921 Prior Period Adjustment will be made to account for RPTTF that was unspent in the ROPS 16-17 period.This is reported on the “Report of Cash Balances”page, Column G,Row 5.The Prior Period Adjustment process is handled separately from the ROPS by the San Mateo County Auditor-Controller.The Successor Agency submitted a Prior Period Adjustment form to the County Auditor-Controller on October 1,2018 to review ROPS 16-17 expenses.The County will make a determination on the Prior Period Adjustment amount and send it to DOF by February 1, 2019. Administrative Budget Health and Safety Code Section 34177(j)requires the Successor Agency to prepare an administrative budget and submit it to the Oversight Board for approval.An Administrative Budget for Fiscal Year 2019-20 is included as Exhibit B of the accompanying resolution for the Successor Agency’s consideration.It will also be submitted to the Oversight Board for approval. Staff proposes an administrative cost allowance of $250,000 for Fiscal Year 2019-20 to cover professional services (including preparation of the ROPS and auditor fees)and staff costs and overhead required to administer enforceable obligations and prepare legally mandated reports.This is the amount permitted by HSC Section 34171(b)(1). Last and Final ROPS Pursuant to HSC section 34191.6(a),agencies that have received a Finding of Completion may submit a Last and Final ROPS beginning January 1, 2016 if all the following conditions are met: 1)The remaining debt is limited to administrative costs and payments pursuant to enforceable obligations with defined payment schedules including,but not limited to,debt service,loan agreements and contracts. 2)All remaining obligations have been previously listed on the ROPS and approved for payment by Finance pursuant to HSC section 34177 (m) or (o). 3)The agency is not a party to outstanding/unresolved litigation,except as specified in HSC section 34191.6(a)(3). Due to the Successor Agency’s outstanding obligation related to environmental remediation at the Oyster Point site,which is an unknown cost,we cannot anticipate when or if the Successor Agency will file a last and final ROPS. City of South San Francisco Printed on 1/3/2019Page 3 of 4 powered by Legistar™ File #:18-1127 Agenda Date:1/9/2019 Version:1 Item #:2. Oversight Board Consolidation As of July 1,2018,the San Mateo Countywide Oversight Board was established pursuant to HSC Section 34179(j),replacing the local South San Francisco Oversight Board.The Countywide Oversight Board reviews actions taken by all successor agencies within San Mateo County and can direct successor agencies to perform certain actions. The Countywide Oversight Board is considering the ROPS 19-20 and Administrative Budget for Fiscal Year 2019-20 at its meeting on January 14,2019.With the consolidation of the Oversight Boards,it is expected that expenditures may be more stringently monitored.Successor agencies have been asked to provide additional supporting documentation,especially for the administrative allowance.Successor Agency staff will respond to any requests for additional information from the Oversight Board. CONCLUSION Adoption of both resolutions will enable the Successor Agency to forward the proposed ROPS and Administrative Budget to the Oversight Board on January 14,2019 in order to fulfill the obligations under Health and Safety Code Section 34177 regarding adoption of a ROPS 19-20 and Administrative Budget for the period July 1, 2019 through June 30, 2020. City of South San Francisco Printed on 1/3/2019Page 4 of 4 powered by Legistar™ City of South San Francisco Legislation Text P.O. Box 711 (City Hall, 400 Grand Avenue) South San Francisco, CA File #:18-1140 Agenda Date:1/9/2019 Version:1 Item #:2a. 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(l),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 (ROPS 19-20),which,pursuant to HSC Section 34177(l),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: 1.The Recitals set forth above are true and correct, and are incorporated herein by reference; 2.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; 3.The City Finance Director or designee is authorized to modify the draft ROPS to correct errors,toCity of South San Francisco Printed on 2/11/2019Page 1 of 2 powered by Legistar™ File #:18-1140 Agenda Date:1/9/2019 Version:1 Item #:2a. 3.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; 4.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; 5.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; 6.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. 7.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. ***** City of South San Francisco Printed on 2/11/2019Page 2 of 2 powered by Legistar™ 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 City of South San Francisco Legislation Text P.O. Box 711 (City Hall, 400 Grand Avenue) South San Francisco, CA File #:18-1141 Agenda Date:1/9/2019 Version:1 Item #:2b. Resolution of the Successor Agency to the Former Redevelopment Agency of the City of South San Francisco reviewing and approving the Successor Agency Administrative Budget for the period July 1, 2019 through June 30, 2020, pursuant to Health and Safety Code Section 34177(j) 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,HSC Section 34177(j)requires the Successor Agency to prepare a proposed administrative budget and submit it to the San Mateo Countywide Oversight Board (“Oversight Board”) for approval; and WHEREAS,Successor Agency staff has prepared an administrative budget for Fiscal Year 2019-20,with detail for the July 1, 2019 through June 30, 2020 period (Administrative Budget); and WHEREAS, the Oversight Board will review the Administrative Budget on January 14, 2019; and WHEREAS, the Successor Agency desires to approve the Administrative Budget for Fiscal Year 2019-20. NOW,THEREFORE,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.In accordance with HSC Section 34177(j),the Successor Agency hereby approves the Administrative Budget for the period July 1,2019 through June 30,2020,attached hereto as Exhibit B,contingent upon approval by the Oversight Board at its meeting on January 14, 2019. 3.The City Finance Director or designee is authorized to modify the Administrative Budget to correct errors,to update it 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; 4.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 Administrative Budget to the Oversight Board. City of South San Francisco Printed on 2/11/2019Page 1 of 2 powered by Legistar™ File #:18-1141 Agenda Date:1/9/2019 Version:1 Item #:2b. ***** City of South San Francisco Printed on 2/11/2019Page 2 of 2 powered by Legistar™ Successor Agency to the Former South San Francisco Redevelopment Agency ROPS 19-20 Administrative Cost Allowance Budget Period: 7/1/19 to 6/30/20 Description of Cost/Expense Amount Staff salaries, benefits, and payroll taxes 170,035$ Overhead costs and supplies 1,000$ Professional Services - SA Consulting, RSG, Inc. (prepare ROPS, PPA, cash flow/budgeting, DOF and County Coordination)25,000$ Professional services - Auditors 3,965$ Professional Services - Legal, Meyers Nave 50,000$ Total 250,000$ EXHIBIT B