Resolution of the Successor Agency to the Redevelopment Agency of the City of Livingston Approving the Recognized Obligation Payment Schedule (ROPS 14-15A) Pursuant to Health and Safety Code Section 34177 for Period July Through December 31, 2014.

Meeting Date: February 18, 2014

Agenda Item #9. Resolution of the Successor Agency to the Redevelopment Agency of the City of Livingston Approving the Recognized Obligation Payment Schedule (ROPS 14-15A) Pursuant to Health and Safety Code Section 34177 for Period July Through December 31, 2014.

Note from TheGardeningSnail: Parts of this page may have been prepared by running a PDF file through a program that converts Image to Print. So there may be a few textual Gremlins that have slipped in. I may also have broken up some of the longer paragraphs, for easier reading.

STAFF REPORT

AGENDA ITEM: Resolution of the Successor Agency to the Redevelopment Agency of the City of Livingston Approving the Recognized Obligation Payment Schedule (ROPS 14-15A) Pursuant to Health and Safety Code Section 34177 for period July through December 31, 2014.

MEETING DATE: February 18, 2014

PREPARED BY: Odi Ortiz, Assistant City Manager/Finance Director

REVIEWED BY: Jose Antonio Ramirez, City Manager

RECOMMENDATION:

Adopt Resolution No. 2014-_, a Resolution of the Successor Agency to the Redevelopment Agency of the City of Livingston approving the Recognized Obligation Payment Schedule (ROPS 14-l5A).

BACKGROUND:

The Department of Finance requires agencies to submit ROPS every six months. This new required ROPS 14-15A is for the period of July through December 31, 2014 and is due to Department of Finance and County by March 3, 2014 and it will require approval of the Oversight Board prior to submittal.

Our ROPS 14-15A includes all anticipated obligations between July through December 2014 including administrative and legal costs. The report reflects the same obligations as previous ROPS submitted.

DISCUSSION:

Successor Agency to approve the Recognized Obligation Payment Schedule (ROPS 14-15A) per ABXl 26 and AB 1484.

FISCAL IMPACT:

Reported on ROPS 14-15A Schedule: $41,555 in Tax Increment Revenues to cover Successor Agency expenditures between July-December 2014

ATTACHMENTS:

1. Resolution No. 2014-

2. ROPS 14-15A- Exhibit A

RESOLUTION NO. 2014-

RESOLUTION OF THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF LIVINGSTON ADOPTING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE IV (ROPS 14-lSA) FOR THE

PERIOD OF JULY 2014 DECEMBER 2014 PURSUANT TO HEALTH AND SAFETYCODE SECTION 34177

WHEREAS, the Livingston Redevelopment Agency ("Agency") was a Redevelopment agency formed pursuant to California Community Redevelopment Law, Health and Safety Code Section 33000 et seq. ("CRL"); and

WHEREAS, pursuant to Assembly Bill xl 26, and the California Supreme Court decision in California Redevelopment Association, et al. v. Ana Matosantos, et al., which upheld Assembly Bill Xl 26, redevelopment agencies were dissolved on February 1, 2012; and

WHEREAS, pursuant to Health and Safety Code Section 34173 et seq. (AB Xl 26), the City of Livingston became the Successor Agency to the Redevelopment Agency of the City of Livingston; and

WHEREAS, pursuant to Health and Safety Code Section 34177(1), the successor agency to a dissolved redevelopment agency is required to adopt a 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) the Low and Moderate Income Housing Fund, (ii) bond proceeds, (iii) reserve balances, (iv) the administrative cost allowance, (v) revenues from rents, concessions, interest earnings, and asset sales, and (vi) 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 ROPS must be (i) prepared by the successor agency every six months, (ii) certified by an external auditor, (iii) submitted to and approved by the oversight board that will be established to review successor agency actions, (iv) posted on the successor agency’s website,

(v) transmitted to the County Auditor-Controller, and (vi) transmitted to the State Controller and the State Department of Finance; and

WHEREAS, the ROPS 14-15A, for the period of July 2014 – December 2014, a copy of which is attached, has been presented to the Board of the Successor Agency. As the Successor Agency, the Council is familiar with the contents thereof, and the City Manager has recommended approval of the ROPS 14-15A, subject to the contingencies and reservation of rights set forth in this Resolution; and

WHEREAS, in adopting the Recognized Obligation Payment Schedule, the Successor Agency does not intend to waive, nor shall the Successor Agency be deemed to have waived any rights the Successor Agency may have pursuant to or in connection with any obligation listed on such

ROPS, including without limitation, the right to modify, amend, terminate or challenge any obligation listed on such ROPS Schedule.

NOW, THEREFORE, the Board of the Successor Agency to the Redevelopment Agency of the City of Livingston does hereby resolve as follows:

Section 1. Recitals.

The foregoing recitals are true and correct and made a part of this Resolution.

Section 2. Adoption of ROPS.

The Successor Agency finds that all obligations listed on the Recognized Obligation Payment Schedule (ROPS V) for the period July 2014 to December 2014 are true and correct and, accordingly, are hereby considered enforceable obligations.

The Recognized Obligation Payment Schedule, attached hereto and incorporated herein by reference as Exhibit A, for the period of July 2014 through December 2014, is hereby approved and adopted pursuant to Health and Safety Code Section 34177.

Section 3. Direction to City Manager.

1. The Executive Director or his/her designee is authorized and directed to take all actions necessary to implement this Resolution, including without limitation, forwarding the ROPS to the Oversight Board for approval, the submittal of the ROPS to the County Administrative Officer, the County Auditor-Controller, State Controller and the Department of Finance, and the posting of this Resolution and the Recognized Obligation Payment Schedule on the City’s website.

2. The Executive Director and his/her 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.

3. The Executive Director and his/her designees are authorized to comply with all other legal requirements, including, without limitation, the reformatting of the ROPS as required by the Department of Finance, and the posting of the ROPS on the City’s website.

Section 4. Severability.

Declares that if any provision, sentence, clause, section or part of this Resolution is found to be unconstitutional, illegal or invalid, such finding shall affect only such provision, sentence, clause, section or part, and shall not affect or impair any of the remaining parts.

Passed and adopted this 18th day of February 2014, by the following vote:

AYES: NOES: ABSENT:

Agency Members: Agency Members: Agency Members:

Rodrigo Espinoza, Chair

of the Successor Agency to the Redevelopment Agency of the City of Livingston

ATTEST:

I, hereby certify that the foregoing resolution was regularly introduced, passed and adopted at a regular meeting of the Governing Board of the Successor Agency to the Redevelopment Agency of the City of Livingston this 18th day of February, 2014.

Betty Cota, Deputy City Clerk of the City of Livingston

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