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Home My WebLink AboutAGENDA REPORT 2012 0215 CC REG ITEM 10H ITEM 10.H. MOORPARK CITY COUNCIL SUCCESSOR AGENCY TO THE MOORPARK REDEVELOPMENT AGENCY AGENDA REPORT TO: Honorable City Council FROM: Ron Ahlers, Finance Director ak- DATE: February 9, 2012 (Successor Agency Meeting of February 15, 2012) SUBJECT: Consider Adopting an Initial Draft Recognized Obligation Payment Schedule (ROPS) for January 1, 2012 through June 30, 2012 BACKGROUND & DISCUSSION On June 29, 2011, as part of adopting the State of California Fiscal Year (FY) 2011-12 budget, the Governor signed two trailer bills, ABX1 26 ("Dissolution Act") and ABX1 27 ("Voluntary Alternative Redevelopment Program"), into law. The legislation became effective on June 29, 2011. The California Redevelopment Association ("CRA") and the California League of Cities filed a lawsuit in the California Supreme Court (Court) challenging the constitutionality of ABX1 26 and ABX1 27. On December 29, 2011 the Court upheld ABX1 26 and found ABX1 27 unconstitutional. The Court restated all the time deadlines in ABX1 26 by adding four months. Therefore, the dissolution is effective February 1, 2012. Staff has prepared the Recognized Obligation Payment Schedule (ROPS), per ABx1 26. ABx1 26 requires that a ROPS be prepared by the Successor Agency by March 1, 2012. One of the first actions of the Oversight Board will be to adopt the ROPS. The ROPS is very similar to the EOPS. In fact, they are duplicative. Staff is recommending that the City Council acting as the Successor Agency for the Redevelopment Agency of the City of Moorpark approve the ROPS. After adoption staff will transmit the information to the State of California and post the same on the City's website, as ordered in the legislation. 252 Honorable Board of Directors February 15, 2012 Page 2 Per the Health and Safety Code, section 34171(h): "Recognized Obligation Payment Schedule" means the document setting forth the minimum payment amounts and due dates of payments required by enforceable obligations for each six-month fiscal period as provided in subdivision (m) of Section 34177. Therefore we must review how an "enforceable obligation" is defined. Per the Health and Safety Code, section 34167(d), an enforceable obligation means 1) Bonds 2) Loans 3) Payments required by the federal government 4) Judgments or settlements 5) Any legally binding and enforceable agreement or contract 6) Contracts or agreements necessary for the continued administration or operation of the redevelopment agency (i.e. employee pay and benefits, rent, insurance, office supplies, etc.) FISCAL IMPACT None The Successor Agency is currently bound by the EOPS. The Oversight Board must approve the ROPS by May 1, 2012. The ROPS, once approved, will effectively supersede the EOPS. STAFF RECOMMENDATION (Roll Call Vote) 1. Adopt attached Recognized Obligation Payment Schedule for January 1, 2012 through June 30, 2012; and 2. Direct staff to transmit the Recognized Obligation Payment Schedule to the State of California and post the same on the City's website, as ordered in the legislation. Attachment 1 Recognized Obligation Payment Schedule 253 Name of Redevelopment Agency: Redevelopment Agency of the City of Moorpark Pagel of_2_Pages ProjectArea(s) Moorpark Redevelopment Project ATTACHMENT 1 Initial Draft RECOGNIZED OBLIGATION PAYMENT SCHEDULE FEBRUARY 15, 2012 Per AB 26-Section 34177* otal I otal Due Outstanding During Fiscal Payments by month Project Name/Debt Obligation Payee Description Debt/Obligatio Year Jan 2012 Feb 2012 Mar 2012 Apr 2012 May 2012 Jun 2012 Total 1999 Tax Allocation Bonds Bank of New York Bond Proceeds 6,030,082 755,709 108,956 658,956 $ 767,912 2) 2001 Tax Allocation Bonds Bank of New York Bond Proceeds 20,359,572 602,098 293,382 313,382 $ 606,764 3)2006 Tax Allocation Bonds Bank of New York Bond Proceeds 23,545,793 545,987 252,631 287,631 $ 540,262 4) Employee Cost Agency Employees Payroll 351,748 351,748 30,000 30,000 45,000 30,000 30,000 30,000$ 195,000 Ruben Castro Human Services 5) Center HMC Architects Architect 182,000 164,000 20,000 20,000 20,000 20,000 $ 80,000 .Ruben Castro Human Services 6) Center RJR Engineering Civil Engineering 23,000 23,000 3,333 3,333 3,334 3,400 $ 13,400 Ruben Castro Human Services 7)1 Center Jensen Design&Survey Survey Services 41,300 41,3001 4,000 5,700 6,000 4,000 is 19,700 Ruben Castro Human Services 8) Center Vertical V-BTC Labs Soils&Steel Inspections 171,000 171,000 22,000 24,800 24,800 1 $ 71,600 Ruben Castro Human Services 9) Center Barnhart Balfour Beatty Construction Management 908,152 744,400 93,000 93,000 93,000 93,000 $ 372,000 Ruben Castro Human Services 10) Center Ky Spangler Project Administration 24,600 24,600 2,500 2,600 2,600 2,600 2,600 2,600 $ 15,500 Ruben Castro Human Services 1 Center Damar Construction Grading(Construction) 273,000 182,000 45,500 45,500 45,500 45,500 $ 182,000 Ruben Castro Human Services L14 l Center Precision Plumbing Underground Utilities 802,000 562,100 115,000 115,000 115,000 120,000 $ 465,000 Ruben Castro Human Services Concrete/CMU Center Santa C12rit2 Concrete (Construction) 1,835,900 1,835,000 300,000 300,000 300,000 218,000 $ 1,118,000 Ruben Castro Human Services Center Steelcon,Inc. Steel framing Construction) 827,000 827,900 100,000 89,000 121,200 $ 310,200 Ruben Castro Human Services Roofing&Sheet metal Center Best Contracting roofing 435,600 251,3001 50,000 50,000 75,000 75,000 $ 250,000 Ruben Castro Human Services Center Standard Drywall Drywall(Construction) 2,130,000 1,395,400 300,000 300,000 300,000 300,000 $ 1,200,000 Ruben Castro Human Services r7 l Center Environmental Heating HVAC(Construction) 790,800 610,000 90,500 90,500 90,500 90,500 $ 362,000 Ruben Castro Human Services Center Ta ft Electric Com an Electric(Construction 926,000 833,700 120,000 140,000 150,000 200,000 $ 610,000 Ruben Castro Human Services Center John Fisher Public Art 140,0001 96,600 21,000 21,000 21,000 21,000 $ 84,000 Removal of Structures and Aszkenazy Disposition and Intersection Improvements 20 Develop ment A reement TBD per DDA 500,000 400,000 300,000 100,000 1 $ 400,000 1083 Walnut Canyon and 112 First 21) Street Demolition Flores-Sierra Construction Removal of Structures 24,400 24,400 12,200 12,200 $ 24,400 22) Pass Through Payments lCounty of Ventura,City and MUSD Pass Through Payments 93,354,157 6,534,995 1 3,400,000 $ 3,400,000 Totals-This Page $153,676,104 $ 16,977,237 $ 1,329,033 $ 1,642,633 $ 1,946,703 $ 1,444,200 $ 32,600 $ 4,692,569 $ 11,087,738 Totals-Attachment 2 $ 2,956,900 $ 3,093,450 $ 138,722 $ 248,222 $ 286,722 $ 304,722 $ 328,167 $ 306,665 $ 1,613,220 Totals-Other Obligations Grand total-All Pages $156,633,004 $ 20,070,687 $ 1,467,755 $ 1,890,855 $ 2,233,425 $ 1,748,922 $ 360,767 $ 4,999,234 $ 12,700,958 A draft Recognized Obligation Payment Schedule(ROPS)is prepared by the successor agency for the enforceable obligations of the former redevelopment agency by March 1,2012. From February 1,2012 to July 1,2012,the initial draft of the schedule shall projects the dates and amounts of scheduled payments for each enforceable obligation for the remainder of the time period during which the redevelopment agency would have authorized to obligate property tax increment had such a redevelopment agency not been dissolved,and shall be reviewed and certified,as to its accuracy,by an external auditor designate pursuant to Section 34182. N CJ1 Name of Redevelopment Agency: Redevelopment Agency of the City of Moorpark Project Area(s) Moorpark Redevelopment Project ATTACHMENT 1 Initial Draft RECOGNIZED OBLIGATION PAYMENT SCHED Per AB 26-Section 34177' Low/Moderate Bond Reserve Admin.Cost Redevelopment Other Project Name/Debt Obligation Payee Description Income Housing Proceeds Balances Allowance Prop Tax Trust Revenue TOTAL 1) 1999 Tax Allocation Bonds Bank of New York Bond Proceeds 767,912 $ 767,912 2) 2001 Tax Allocation Bonds Bank of New York Bond Proceeds 606,764 $ 606,764 3) 2006 Tax Allocation Bonds Bank of New York Bond Proceeds 540,262 $ 540,262 4) Employee Cost Agency Employees Payroll 65,000 130,000 $ 195,000 Ruben Castro Human Services 5) Center HMC Architects Architect 80,000 $ 80,000 Ruben Castro Human Services 6) Center RJR Engineering Civil Engineering 13,400 $ 13,400 Ruben Castro Human Services 7) Center Jensen Design&Survey Survey Services 19,700 $ 19,700 Ruben Castro Human Services 8) Center Vertical V-BTC Labs Soils&Steel Inspections 71,600 is 71,600 Ruben Castro Human Services 9) Center Barnhart Balfour Beatty Construction Management 372,000 $ 372,000 Ruben Castro Human Services 10) Center Ky Spangler Project Administration 15,500 $ 15,500 r Ruben Castro Human Services 11 Center Damar Construction Grading(Construction) 182,000 $ 182,000 Ruben Castro Human Services 12) Center Precision Plumbing Underground Utilities 465,000 $ 465,000 Ruben Castro Human Services Concrete/CMU 13 Center Santa Clarita Concrete (Construction) 1,118,000 $ 1,118,000 Ruben Castro Human Services 14 Center Steelcon,Inc. Steel framing Construction 310,200 $ 310,200 Ruben Castro Human Services Roofing&Sheet metal 15 Center Best Contracting roofing 250,000 $ 250,000 Ruben Castro Human Services 16 Center Standard Drywall Drywall Construction 1,200,000 $ 1,200,000 Ruben Castro Human Services 17 Center Environmental Heating HVAC(Construction) 362,000 $ 362,000 Ruben Castro Human Services 18 Center Taft Electric Company Electric Construction 610,000 $ 610,000 Ruben Castro Human Services 19 Center John Fisher Public Art 84,000 $ 84,000 Removal of Structures and Aszkenazy Disposition and Intersection Improvements 20 Development Agreement TBD er DDA 400,000 $ 400,000 1083 Walnut Canyon and 112 First 21 Street Demolition Flores-Sierra Construction Removal of Structures 24,400 $ 24,400 22)1 Pass Through Payments County of Ventura,City and MUSD Pass Through Payments 3,400,000 $ 3,400,000 Totals-This Page $ 65,000 $ 5,553,400 $ 130,000 $ 5,339,338 $ 11,087,738 Totals-Attachment 2 $ 30,000 $ 1,121,220 $ 462,000 $ 1,613,220 Totals-Other Obligations Grand total-All Pages $ 95,000 $ 6,674,620 $ 130,000 i $ 5,801,338 $ 12,700,958 A draft Recognized Obligation Payment Schedule(ROPS)is prepared by the successor agency for the enforceable obI amounts of scheduled payments for each enforceable obligation for the remainder of the time period during which the r certified,as to its accuracy,by an external auditor designate pursuant to Section 34182. I N Ln Ln Name of Redevelopment Agenc,Redevelopment Agency of the City of Moorpark Page 2 of_2_Pages ProjectArea(s) Moorpark Redevelopment Project ATTACHMENT 2 Initial Draft RECOGNIZED OBLIGATION PAYMENT SCHEDULE FEBRUARY 15, 2012 Per AB 26-Section 34177* Total Outstandin rotal Due Durin Payments by month Project Name/Debt Obligation Payee Description ebt or Obligatic Fiscal Year Jan 2012 Feb 2012 Mar 2012 Apr 2012 May 2012 Jun 2012 Total 1 161 Second Street Park Veronica Jacinto Relocation Payment 30,000 30,000 7,000 23,000 $ 30,000 Overland,Cutler and 2 161 Second Street Park Pacific Relocation Consultant 25,000 25,000 3 A Few Good Men Various Theater Season 24,500 24,500 4 High School Musical Various Youth Workshop 12,000 12,000 5 Little Shop of Horrors Various Theater Season 24,500 24,500 6) Christmas Magic Various Theater Season 16,000 16,000 7) Hairspray Various Theater Season 16,000 16,000 8 Harvey Various Theater Season 20,000 20,000 7,000 10,000 3,000 $ 20,000 9 The Music Man Various Theater Season 17,000 1 17,000 6,000 8,000 3,000 $ 17,000 10 One Act Plays Various Theater Season 5,000 5,000 2,000 1,500 1,500 $ 5,000 Ruben Castro Human Services FOB of Best Contracting Services- 11 Center Union Bank,NA Retention for Roofing&Sheet metal 48,400 25,130 5,000 5,000 7,500 7,500 $ 25,000 Ruben Castro Human Services FOB of Standard Dry Wall-Retention for 12 Center California Bank&Trust drywall 236,500 142,100 30,000 30,000 30,000 30,000 $ 120,000 Low and Moderate Income 13 Housing Fund City of Moorpark 20%set-aside 1,350,000 1,350,000 10,000 $ 10,000 14 Bond Trustee Bank of New York Trustee services 10,000 10,000 $ 10,000 15 Administrative Fees City of Moorpark Administrative Fees 250,000 41,667 41,667 41,667 41,667 41,667 41,665 $ 250,000 16 Bond Disclosures Urban Futures Bond Disclosure 10,000 10,000 $ 10,000 17 Bond Arbitrage Calks BondLo istix Bond Arbitrage Calks 10,000 10,000 $ 10,000 Ruben Castro Human Services FOB of Damar Construction-Retention 18 Center Community West Bank for grading 30,400 20,220 5,055 5,055 5,055 5,055 $ 20,220 Ruben Castro Human Services Reliable Floor Covering, 19 Center Inc Flooring and ceramic flooring 366,300 320,000 70,000 70,000 80,000 100,000 $ 320,000 Ruben Castro Human Services 20 Center Center Glass Company Glass&glazing 217,800 195,000 45,000 50,000 50,000 50,000 $ 195,000 Ruben Castro Human Services John Pence Building 21 Center Specialties Inc. Specialties 66,400 60,000 10,000 20,000 20,000 10,000 $ 60,000 Ruben Castro Human Services 22 Center FYR Landscaping,Inc. Landscape&irrigation 125,600 110,000 25,000 25,000 30,000 30,000 $ 110,000 Ruben Castro Human Services 23 Center K&Z Cabinet Co,Inc Finish carpentry&casework 164,500 150,000 20,000 30,000 50,000 1 50,000 $ 150,000 Ruben Castro Human Services Ventura County Air 24 Center Pollution Control Distract Permits 1,000 1,000 500 500 $ 1,000 25 Le al Burke Williams Sorensen Legal 30,000 30,000 5,000 5,000 5,000 5,000 5,000 5,000 $ 30,000 26 Watershed Protection District County of Ventura Watershed Protection District 10,000 100,000 100,000 $ 100,000 Ruben Castro Human Services County of Ventura&other 27 Center ov't agencies Permits and Fees 120,000 120,000 20,000 20,000 20,000 20,000 20,000 20,000 $ 120,000 Totals-This Page 1$ 2,956,900 $ 3,093,450 $ 138,722 $ 248,222 $ 286,722 $ 304,722 $ 328,167 $ 306,665 $ 1,613,220 A draft Recognized Ob;igation Payment Schedule(ROPS)is prepared by the successor agency for the enforceable obligations of the former redevelopment agency by March 1,2012. From February 1,2012 to July 1,2012,the initial draft of the schedule shall projects the dates and amounts of scheduled payments for each enforceable obligation for the remainder of the time period during which the redevelopment agency would have authorized to obligate property tax increment had such a redevelopment agency not been dissolved,and shall be reviewed and certified,as to its accuracy,by an external auditor designate pursuant to Section 34182. N Name of Redevelopment Agenc,Redevelopment Agency of the City of Moorpark Project Area(s) Moorpark Redevelopment Project ATTACHMENT 2 Initial Draft RECOGNIZED OBLIGATION PAYMENT SCHE❑ Per AB 26-Section 34177' T Low/Moderate Bond Reserve Admin.Cost Redevelopment Other Project Name/Debt Obligation Payee Description Income Housing Proceeds Balances Allowance Prop Tax Trust Revenue TOTAL 1 161 Second Street Park Veronica Jacinto Relocation Payment 30,000 $ 30,000 Overland,Cutler and 2) 161 Second Street Park Pacific Relocation Consultant 3 A Few Good Men Various Theater Season 4) High School Musical Various Youth Workshop 5) Little Shop of Horrors Various Theater Season 6 Christmas Magic Various Theater Season 7) Hairspray Various Theater Season 8 Harvey Various Theater Season 20,000 $ 20,000 9 The Music Man Various Theater Season 17,000 $ 17,000 10 One Act Plays Various Theater Season 5,000 $ 5,000 Ruben Castro Human Services FOB of Best Contracting Services- 11 Center Union Bank,NA Retention for Roofing&Sheet metal 25,000 $ 25,000 Ruben Castro Human Services FOB of Standard Dry Wall-Retention for 12 Center California Bank&Trust drywall 120,000 $ 120,000 Low and Moderate Income 13 Housing Fund City of Moorpark 20%set-aside 10,000 $ 10,000 14 Bond Trustee Bank of New York Trustee services 10,000 $ 10,000 15 Administrative Fees City of Moorpark Administrative Fees 250,000 $ 250,000 16 Bond Disclosures Urban Futures Bond Disclosure 10,000 $ 10,000 17),Bond Arbitrage Calks BondLo istix Bond Arbitrage Calks 10,000 $ 10,000 Ruben Castro Human Services FOB of Damar Construction-Retention 18 Center Community West Bank for grading 20,220 $ 20,220 Ruben Castro Human Services Reliable Floor Covering, 19 Center Inc Flooring and ceramic flooring 320,000 $ 320,000 Ruben Castro Human Services 20 Center Center Glass Company Glass&glazing 195,000 $ 195,000 Ruben Castro Human Services John Pence Building 21 Center Specialties Inc. -Specialties 60,000 $ 60,000 Ruben Castro Human Services 22 Center FYR Landscaping,Inc. Landscape&irrigation 110,000 $ 110,000 Ruben Castro Human Services 23 Center K&Z Cabinet Co,Inc Finish carpentry&casework 150,000 $ 150,000 Ruben Castro Human Services Ventura County Air 24 Center Pollution Control Distract Permits 1,000 $ 1,000 25 Le al Burke Williams Sorensen Legal 30,000 $ 30,000 26 Watershed Protection District County of Ventura Watershed Protection District 100,000 $ 100,000 Ruben Castro Human Services County of Ventura&other 27 Center ov't agencies Permits and Fees 120,000 $ 120,000 Totals-This Page $ 30,000 $ 1,121,220 $ 462,000 $ 1,613,220 A draft Recognized Obligation Payment Schedule(RODS)is prepared by the successor agency for the enforceable obl amounts of scheduled payments for each enforceable obligation for the remainder of the time period during which then certified,as to its accuracy,by an external auditor designate pursuant to Section 34182. N In J