SA Resolution 2015-001RESOLUTION NO. SA 2015 - 001
A RESOLUTION OF THE CITY OF LA QUINTA ACTING
AS THE SUCCESSOR AGENCY TO LA QUINTA
REDEVELOPMENT AGENCY ADOPTING RECOGNIZED
OBLIGATION PAYMENT SCHEDULE 15-16A FOR THE
PERIOD OF JULY 1, 2015 THROUGH DECEMBER 31,
2015
WHEREAS, the City Council of the City of La Quinta ("City Council" or "City,"
as applicable) previously approved and adopted (i) the Redevelopment Plan for La
Quinta Project Area No. 1 ("Project Area No. 1 " or "Project Area No. 1 Redevelopment
Plan," as applicable); and (ii) the Redevelopment Plan for La Quinta Redevelopment
Project Area No. 2 ("Project Area No. 2" or "Project Area No. 2 Redevelopment Plan,"
as applicable);
WHEREAS, the former La Quinta Redevelopment Agency ("Agency") was
engaged in activities to execute and implement the Project Area No. 1
Redevelopment Plan and the Project Area No. 2 Redevelopment Plan (collectively,
the "Redevelopment Plans") pursuant to the provisions of the California Community
Redevelopment Law (Health and Safety Code § 33000, et seq.) ("CRL"); and
WHEREAS, as part of the 201 1-12 State budget bill, the California
Legislature enacted and the Governor signed, Assembly Bill 26 ("ABx1 26")
requiring that each redevelopment agency be dissolved and Assembly Bill 27
("ABx1 27") that would have allowed redevelopment agencies to remain in
existence if certain remittance payments were made; and
WHEREAS, an action challenging the constitutionality of ABx1 26 and ABx1
27 was filed in the California Supreme Court; and
WHEREAS, on December 29, 2011, the Court upheld ABx1 26 and struck
down ABx1 27 as unconstitutional; and
WHEREAS, on January 2, 2012, the City Council adopted City Council
Resolution No. 2012-002, affirmatively electing to be the "successor agency" to
the Agency; and
WHEREAS, on June 27, 2012, the California Legislature enacted, and the
Governor signed, Assembly Bill 1484 ("AB 1484"), which, among other things,
made certain revisions to certain of the statutes added by ABx1 26; and
Resolution No. SA 2015-001
Adoption of Recognized Obligation Payment Schedule
Adopted: February 17, 2015
Page 2 of 3
WHEREAS, Health and Safety Code Section 34177 requires successor
agencies to prepare and adopt, on a semi-annual basis, a "Recognized Obligation
Payment Schedule" ("ROPS") that lists all obligations of the former redevelopment
agency that are enforceable within the meaning of subdivision (d) of Section
34171; and
WHEREAS, Successor Agency to the La Quinta Redevelopment Agency
("Successor Agency") staff have prepared BOPS 15-16A for the period of July 1,
2015 through December 31, 2015; and
WHEREAS, all other legal prerequisites to the adoption of this Resolution
have occurred.
NOW THEREFORE, BE IT RESOLVED, by the Successor Agency to the La
Quinta Redevelopment Agency, as follows:
SECTION 1. Recitals. The Recitals set forth above are true and correct and
incorporated herein by reference.
SECTION 2. Approval of BOPS 15-16A In order to enable the Successor Agency
to strictly comply with ABx1 26, and based on the Recitals set forth above, the
Successor Agency hereby approves ROPS 15-16A attached hereto as Exhibit A as
the Recognized Obligation Payment Schedule for the period of July 1, 2015
through December 31, 2015. Pursuant to Health & Safety Section 34173(e), the
Successor Agency'.s liability, including, but not limited to, its liability for the
obligations on the attached schedule, is limited to the total sum of property tax
revenues it receives pursuant to Part 1.85 of AB x1 26.
SECTION 3. Implementation. The Successor Agency hereby authorizes and directs
the Executive Director to submit BOPS 15-16A to the Oversight Board of the City
as Successor Agency to the La Quinta Redevelopment Agency (the "Oversight
Board") and, after approval by the Oversight Board, to submit a copy of the
approved BOPS 15-16A to the Department of Finance, State Controller, County
Administrative Officer, and County Auditor -Controller.
SECTION 4. Severability. If any provision of this Resolution or the application
thereof to any person or circumstance is held invalid, such invalidity shall not affect
other provisions or applications of this Resolution which can be given effect
without the invalid provision or application, and to this end the provisions of this
Resolution are severable. The Successor Agency hereby declares that it would
have adopted this Resolution irrespective of the invalidity of any particular portion
thereof.
Resolution No. SA 2015-001
Adoption of Recognized Obligation Payment Schedule
Adopted: February 17, 2015
Page 3 of 3
SECTION 5. The Successor Agency Secretary shall certify to the adoption of this
Resolution.
PASSED, APPROVED, AND ADOPTED at the meeting of the Successor
Agency to the La Quinta Redevelopment Agency held this 17th of February 2015,
by the following vote:
AYES: Agency Members Franklin, Osborne, Pena, Radi, Chair Evans
T[�7�'��r•TiT!
ABSENT: None
ABSTAIN: None
LINDA EVANS, Chairperson
City of La Quinta Acting as Successor
Agency to the La Quinta Redevelopment
Agency
Fill i-943-6
SUSAN MAYSELS, SWbretary
City of La Quinta Acting as Successor
Agency to _the La Quinta Redevelopment Agency
(AGENCY_,- SEAL)
APPROVED AS TO FORM:
WILLIAM H. IHRKE, Successor Agency Counsel
City of La Quinta Acting as Successor
Agency to the La Quinta Redevelopment Agency
Recognized Obligation Payment Schedule (ROPS 15-16A) - Summary
Filed for the July 1, 2015 through December 31, 2015 Period
Name of Successor Agency: La Quinta
Name of County: Riverside
Current Period Requested Funding for Outstanding Debt or Obligation
Enforceable Obligations Funded with Non -Redevelopment Property Tax Trust Fund (RPTTF) Funding
A Sources (B+C+D):
B Bond Proceeds Funding (ROPS Detail)
C Reserve Balance Funding. (ROPS Detail)
D Other Funding (ROPS Detail)
E Enforceable Obligations Funded with RPTTF Funding (F+G):
F Non -Administrative Costs (ROPS Detail)
G Administrative Costs (ROPS Detail)
H Current Period Enforceable Obligations (A+E):
Successor Agency Self -Reported Prior Period Adjustment to Current Period RPTTF Reauested Fundin
I. Enforceable Obligations funded with RPTTF (E):
J Less Prior Period Adjustment (Report of Prior Period Adjustments Column S)
K Adjusted Current Period RPTTF Requested Funding (I•J)
EXHI81T A
Six -Month Tots
County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding
L Enforceable Obligations funded with RPTTF (E): 12,548,994
M Less Prior Period Adjustment (Report of Prior Period Adjustments Column AA) -
N Adjusted Current Period RPTTF Requested Funding (L-M) 121548,994
Certification of Oversight Board Chairman:
Pursuant to Section 34177 (m) of the Health and Safety code, I
hereby certify that the above is a true and accurate Recognized Name Title
Obligation Payment Schedule for the above named agency.
Isl
Signature Date
Recognized Obligation Payment Schedule (ROPS 15-16A) - ROPS Detail
July 1, 2015 through December 31, 2015
(Report Amounts in Whole Dollars)
C
D
E
F
G
H
I
J
K
L
M
�_N
Funding Source
Non -Redevelopment Property Tax Trust Fund
Non-RPTTF
RPT"
Contract/Agreement
Contract/Agreement
Total Outstanding
ation
Obligation Type
Execution Date
Termination Date
Payee
Description/Project Scope
Project Area
Debt or Obligation
Retired
Bond Proceeds
Reserve Balance
Other Funds
Non-Admin
$ 426 375 796
$ 2,672,038
$ -
'$
$ 12 1 B3 489 '
Taxable
Bonds Issued After
7/3/2005
9/1/2036
US Bank
Bonds to fund proiects
1 and 2
56,528,814
N
1,628,984
Taxable
Bonds Issued After
7/3/2005
9/1/2039
US Bank
Bonds to fund projects
1 and 2
14,877,400
N
276,428
12/31/10
Fees
1/17/2012
9/1/2039
Willdan Financial Services
Preparation of annual continuing
1 and 2
60,000
N
disclosure reports per Federal
regulations
Fees
6/16/2005
9/1/2039
US Bank
Fees for holding administration and
1 and 2
15,140
N
distribution of bond proceeds
,ign
Professional
8/16/2006
12/31/2014
RBF Consulting
Infrastructure design and engineering
1
742,543
N
350,000
Services
to support development of SilverRock
itreet
OPA/DDA/Constructi
10/1/2008
11/30/2032
La Quinta Housing Authority
Written commitment to US Department
2
18,529,5B0
N
2,142,038
Is &
on
of Agriculture -Rural Development to
rehabilitate & construct improvements
to Washington Street Apartments
itreet
Professional
7/3/2011
7/31/2015
Altum Group
Engineering for Washington Street
2
140,415
Y
is &
Services
Apartments Site Improvements &
Rehabilitation Project
itreet
Property
7/3/2011
7/31/2015
RGA Landscape
Landscaping for Washington Street
2
32,605
Y
Is &
Maintenance
Apartments Site Improvements &
Rehabilitation Project
itreet
Professional
7/3/2011
7/31/2015
Tall Man Group
Project & Construction Management
2
756,780
N
100,000
Is &
Services
for Washington Street Apartments Site
Improvements & Rehabilitation Project
itreet
Professional
8/7/2011
7/31/2015
Studio E Architects
Architecture Services for Washington
2
228,373
Y
is &
Services
Street Apartments Site Improvements
& Rehabilitation Project
Is
Project Management
1/1/2014
9/1/2032
City of La Quinta
Project Management Costs - Staff
2
300.000
N
50.000
Costs
Time, Non Personnel to administer
rehab of 72 affordable units and
addition of 24 senior units
is
Project Management
7/1/2012
7/1/2015
Rutan & Tucker
Project Management Costs - Legal
2
30,000
N
30,000
Costs
for
Improvement/Infrastr
6/11/2005
12/31/2020
Coachella Valley Water
Future infrastructure improvements
1
16.625,644
N
lock
ucture
District
required for future development of
SilverRock by Domestic Water &
Sanitation System Installation and
Irrigation Agreement
Admin Costs
1/1/2014
9/1/2039
City of La Quinta
Administrative Allowance per ABx1 26
1 and 2
365,505
N
3% of ROPS
Bonds Issued After
12/23/2013
9/1/2033
US Bank
Refund 1998, 2001, 2002, 2003 TABS
139,308,281
N
5,623,306
12/31/10
Bonds Issued After
12/23/2013
9/1/2032
US Bank
Refund 1998, 2001, 2002, 2003 TABS
33,800,353
N
1,384.271
12/31/10
Fund
City/County Loans
6/30/1994
9/1/2030
City of La Quinta
Loans made from the General Fund to
33,777,113
N
On or Before 6127/11
the former RDA
Bonds Issued After
7/9/2014
9/1/2034
US Bank
Refund 2004 Bonds
103,257,250
N
3,270,500
12/31/10
Recognized Obligation Payment Schedule (ROPS 15-16A) - ROPS Detail
July 1, 2015 through December 31, 2015
(Report Amounts in Whole Dollars)
C
D
E
F
G
H
I
J
K
L
M
N
ation
Obligation Type
Contract/Agreement
Execution Date
Contract/Agreement
Termination Date
Payee
Description/Project Scope
Project Area
Total Outstanding
Debt or Obligation
Retired
Funding Source
Non -Redevelopment Property Tax Trust Fund
Non-RPTTF
RPT-
Bond Proceeds
Reserve Balance
Other Funds
Non-Admin
Professional
ServicesI
6/11/2005
12/31/2020
I
Various
I
Roadwork and improvements to
Isupport development
7,000,000
N
Recognized Obligation Payment Schedule (ROPS 15-16A) - Report of Cash Balances
(Report Amounts in Whole Dollars)
Pursuant to Health and Safety Code section 34177 (1), 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 https://rad.dof.ca.gov/rad-
sa/pdf/Cash Balance Agency Tips Sheet.pdf,
A
B
C
D
E
F
G
H
I
Fund Sources
Bond Proceeds
Reserve Balance
Other- -
RPTTF
Prior ROPS
Prior ROPS
period balances
RPTTF
Bonds Issued on
and DDR RPTTF
distributed as
Rent,
Non-Admin
or before
Bonds Issued on
balances
reserve for future
Grants,
and
Cash Balance Information by ROPS Period
12/31/10
or after 01/01/11
retained
period(s)
Interest, Etc.
Admin
Comments
RODS 14-15A'Actuals 07/01/14-12/31/14
1
Beginning Available Cash Balance (Actual 07/01/14)
10,932,027
31,274,803
3,590,876
-
18,826,467
2
Revenue/Income (Actual 12/31/14)
RPTTF amounts should tie to the ROPS 14-15A distribution from the
County Auditor -Controller during June 2014
1,040
3
Expenditures for ROPS 14-15A Enforceable Obligations (Actual
12/31/14)
RPTTF amounts, H3 plus H4 should equal total reported actual
expenditures in the Report of PPA, Columns L and Q
;77,ggg
16.103,270
4
Retention of Available Cash Balance (Actual 12/31/14)
RPTTF amount retained should only include the amounts distributed as
reserve for future period(s)
5
ROPS 14-15A RPTTF Prior Period Adjustment
RPTTF amount should tie to the self -reported ROPS 14-15A PPA in the
No entry required
Report of PPA, Column S
125,927
6
Ending,Actual Available Cash Balance
C to G = (1 +2 - 3 - 4), H = (1 + 2 - 3 - 4 - 5)
$ 10 932,027
$ 31,274 803
$ 3,112,987
$ : _ -
$: 1,040
$ 2,597 270
ROPS 14-15B Estimate 01/01/15 - 06/30/15
7
Beginning Available Cash Balance (Actual 01/01115)
(C, D, E, G = 4 + 6, F = H4 + F4 + F6, and H = 5 + 6)
$ 10,932 027
$ 31 274,803
$ 3,112,987
$ -
$ 1,040
$ 2,723,197
8
Revenue/Income (Estimate 06130/15)
RPTTF amounts should tie to the ROPS 14-15B distribution from the
County Auditor -Controller during January 2015
2,749,294
9
Expenditures for ROPS 14-15B Enforceable Obligations (Estimate
06/30/15)
2:422, 749
5,539,456
10
Retention of Available Cash Balance (Estimate 06/30115)
RPTTF amount retained should only include the amounts distributed as
reserve for future period(s)
11
Ending Estimated Available Cash Balance (7`+ 8 :9 -10)
$ 10 932 027
$ 31,274 803
$690,238
$ -
$ 1,040
$ 66965
Recognized Obligation Payment Schedule (ROPS 15-16A) - Report of Prior Period Adjustme
Reported for the ROPS 14-15A (July 1, 2014 through December 31, 2014) Period Pursuant to Health and Safety Code I
(Report Amounts in Whole Dollars)
:y (SA) Self -reported Prior Period Adjustments (PPA): Pursuant to HSC Section 34186 (a), SAs are required to report the differences between their actual available funding and their actual expenditures for the ROPS 14-15A (July through December
st Fund (RPTTF) approved for the ROPS 15-16A (July through December 2015) period will be offset by the SA's self -reported ROPS 14-15A prior period adjustment. HSC Section 34186 (a) also specifies that the prior period adjustments self -reported t
id the State Controller.
C D E F G H I J K L M N O P O
Non-RPTTF Expenditures RPTTF Expenditures
Bond Proceeds I Reserve
Funds
Non-Admin
Admin
Available
Available
RPTTF
RPTTF
(ROPS 14-15A
Difference
(ROPS 14-15A
t
distributed + all other
Net Lesser of
(If K is less than L,
distributed + all other
Net Lesser of
ai
available as of
Authorized I
the difference Is
available as of
Authorized /
tot
uthorized
Actual
Authorized
Actual
Authorized
Actual
Authorized
07/1/14)
Available
Actual
zero)
Authorized
07/l/14)
Available
Actual
.. _
,20,606,482
$ :` 1,644,?65.
..
,$.. ,1,168,127
$'_' : 477.889
$ F __ ,°
-$' �- v
$,- ":16,441,546.
- ..
'$ ,_ „-15i751,308
-.i
$. ....15;7.51, 08.
$ " 115,626,381
. ;
$ ,,. ,_ ..125;927e
., •.
$ , ., 492.335
$
-$
- ;�� -.`.'
477889 ,
s
$ .
$
$,
_
-
4,012,653
4,012,653
$ 4012,653°
4,012,653
1,616,134
1,616,134
'$ 1,616,134 i
1,611,621
$,,;" 4,b13,
277,503
277,503
$ '" 277,503
275,526
-$ - 1,977'.
10,000
10'000
'$ 10,000;
10,000;
15140
15140$-15140`
3,300
1.
150,000
-
-
$
$
1R5995Rn
-.$ ..
$^
Recognized Obligation Payment Schedule (ROPS 15-16A) - Report of Prior Period Adjustme
Reported for the ROPS 14-15A (July 1, 2014 through December 31, 2014) Period Pursuant to Health and Safety Code i
(Report Amounts in Whole Dollars)
:y (SA) Self -reported Prior Period Adjustments (PPA): Pursuant to HSC Section 34186 (a), SAs are required to report the differences between their actual available funding and their actual expenditures for the ROPS 14-15A (July through December
st Fund (RPTTF) approved for the ROPS 15-16A (July through December 2015) period will be offset by the SA's self -reported ROPS 14-15A prior period adjustment. HSC Section 34186 (a) also specifies that the prior period adjustments self -reported t
id the State Controller.
C
D
E
F
G
H
I
J
K
L
M
N
O
P
O
Non-RPTTF Expenditures
RPTTF Expenditures
Bond Proceeds
Reserve Balance
Other Funds
Non -Adman
Admin
uthorized
Actual
Authorized
Actual
Authorized
Actual
Authorized
Available
RPTTF
(ROPS 14-15A
distributed + all other
available as of
07/1/14)
Net Lesser of
Authorized /
Available
Actual
Difference
(If K Is less than L,
the difference Is
zero)
Authorized
Available
RPTTF
(ROPS 14-15A
distributed + all other
available as of
07/1/14)
Net Lesser of
Authorized /
Available
Actual
r
al
tot
20,606 482
$-1,644,755
$ 1,168,127
$-477,889.
$ -.
$ ,; -
$ -.-16,441,546
$ 15,751,308
$ 15,751,308...$:
15,625,381
$ 125,927_
$ 492,335
$ _
-.:.
477,889
$
100.000
-
-
-
$ ::. _
$$
50,000
$ -
$ -
30,000
-
-
$ - -
$,,.
16,902
$ - -
$ -
30,000
$ - -
$: - -
1,700,000
1,644,755
$
$
-
477.889
477,889
-
-
$ - -
$ '-
492,335
-
477,889
7,843,260
7,843,260
$ 7,843,260
7,829.697
$ 13,563
Recognized Obligation Payment Schedule (ROPS 15-16A) - Report of Prior Period Adjustme
Reported for the ROPS 14-15A (July 1, 2014 through December 31, 2014) Period Pursuant to Health and Safety Code i
(Report Amounts in Whole Dollars)
oy (SA) Self -reported Prior Period Adjustments (PPA): Pursuant to HSC Section 34186 (a), SAs are required to report the differences between their actual available funding and their actual expenditures for the ROPS 14-15A (July through December
st Fund (RPTTF) approved for the ROPS 15-16A (July through December 2015) period will be offset by the SA's self -reported ROPS 14-15A prior period adjustment. HSC Section 34186 (a) also specifies that the prior period adjustments self -reported t
id the State Controller.
C D E F G H I J K L M N 0 P Q
Non-RPTTF Expenditures RPTTF Expenditures
Bond Proceeds I Reserve Balance I Other Funds
athorized Actual Authorized Actual Authorized Actual
20,60fi,482 $ 1,644,7567 ,$ 1,168,127 $ -' 477.889 -$ $
690.238
Non-Admin
Available
RPTTF
(ROPS 14-15A
distributed + all other
Net Lesser of
available as of
Authorized /
Authorized
07/1/14)
Available
15,441,546
$ 15,751,308,
$ 15,751,308:
1,901,618
1,901.618
$ 1,901,618.
690,238
-
I$
Available
RPTTF
Difference (ROPS 14-15A e
(If K is less than L, distributed + all other Net Lesser of ai
the difference Is available as of Authorized I tot
Actual zero) Authorized 07/1/14) Available Actual
15,625,381 $ 125,9275 $ 492;1M $ $ 477,889 $ .`
1,892,564 $ 9,034i
Recognized Obligation Payment Schedule (ROPS 15-16A) - Notes
July 1, 2015 through December 30, 2015
Item # I Notes/Comments