AGENDA
ITEM
19 AGENDA STAFF REPORT
BA B
CALEXICO
(Successor Agency)
DATE: January 18, 2023
Successor Agency Board Members
APPROVED BY: Esperanza Colio-Warren, City Manager/Executive Director MY PREPARED BY: Sandra Fonseca, Interim Finance Director
SUBJECT: Approval of the Recognized Obligation Payment Schedule 23-24 A and B of the Successor Agency to the Community Redevelopment Agency of the City of Calexico for the period of July 2023 through June 2024 ==
Recommendation:
It is recommended that the Board of Directors adopt the attached resolution approving the Recognized Obligation Payment Schedule ("ROPS") 23-24 A and B of the Successor Agency to the Community Redevelopment Agency of the City of Calexico ("Successor Agency") for the period of July 2023 through June 2024.
Background:
Pursuant to Health and Safety Code ("HS") § (a) (1), the Community Redevelopment Agency of the City of Calexico was dissolved on February 1, 2012. Consistent with the provisions of the HSC, the City Council of the City of Calexico previously elected to serve in the capacity of the Successor Agency. Per. HSC § 34179, the Successor Agency previously established the Calexico Oversight Board to assist in winding-down the former redevelopment agency through June 30, 2018, at which time it was dissolved by operation of law. Consistent with HSC § 34179 (i), on July 1, 2018 the Imperial Countywide Oversight Board (the "CWOB") was established to assist in winding-down the dissolved redevelopment agencies within the County of Imperial.
Discussion & Analysis:
AGENDA
Per HSC § 34177 (o) (1), the Successor Agency is required to prepare a ROPS ITEM before each twelve-month fiscal year period. The purpose of the ROPS is to request authorization for Redevelopment Property Tax Trust Fund ("RPTTF") money (formerly known as tax increment funding) to meet the Successor 19 Agency's enforceable obligations. Pursuant to HSC § 34180 (g), CWOB approval is required for the establishment of each ROPS. Pursuant to HSC § 34177 -1-
(o) (1), a CWOB-approved ROPS 23-24 A and B for the period of July 2023 through June 2024 must be submitted to the State Department of Finance ("DOF") and to the County Auditor- Controller ('CAC") not later than February 1st for each ROPS cycle ("Submission Deadline").
The CWOB will consider Calexico's ROPS 23-24 A and B during its January 2023 meeting (date pending).
It is, therefore, proposed that the Successor Agency adopt the attached Resolution approving ROPS 23-24 A and B, which is included as Exhibit "A" to the Resolution.
Fiscal Impact:
Pursuant to HSC § 34177, the Successor Agency is legally required to continue to make payments due for enforceable obligations. The Successor Agency's and the CWOB's approval of the ROPS 23-24 A and B will ensure that the Successor Agency has the authority to continue to pay its enforceable obligations. ROPS 23-24 A and B will be submitted to DOF and the CAC by the Submission Deadline.
In addition, the CAC is responsible for distributing RPTTF, which occurs in two tranches; one by the first week of January and the other by the first week of June each year. The CAC divides the RPTTF into three parts. The first part is for pass-through funding to eligible taxing entities that are required by an agreement or statute. The second part is for successor agencies to fund approved enforceable obligation included within an approved ROPS. The third part is for the distribution of any remaining surplus funding to the taxing entities that are entitled to a share of the general tax levy (GTL") in proportion to their respective shares of the GTL. The City is entitled to a portion of any surplus RPTTF and has received such funding for the last several years. In that regard, the City includes an estimate of surplus RPTTF within its annual revenue budget for its general fund.
Coordinated With:
Steven H. Dukett, Managing Director, Development Services Division, TKE Engineering, Inc.
Attachment:
Resolution (including its Exhibit A, which is ROPS 23-24). -2-
RESOLUTION NO. 2023-_-SA
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SUCCESSOR AGENCY TO
THE COMMUNITY REDEVELOPMENT AGENCY TO THE CITY OF CALEXICO APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE 23-24 A & B FOR THE PERIOD OF JULY 2023 THROUGH JUNE 2024 AND APPROVING CERTAIN
RELATED ACTIONS
WHEREAS, pursuant to Health and Safety Code (the "HSC"') § 34172 (a) (1), the Community Redevelopment Agency of the City of Calexico was dissolved on February 1, 2012; and WHEREAS, consistent with the provisions of the HSC, the City Council of the City of Calexico previously elected to serve in the capacity of the Successor Agency to the Community Redevelopment Agency of the City of Calexico (the "Successor Agency"); and WHEREAS, pursuant to HSC § 34179, the Successor Agency previously established the Calexico Oversight Board to assist in winding-down of the former redevelopment agency through June 30, 2018, at which time it was dissolved by operation of law; and WHEREAS, consistent with HSC § 34179 (i), on July 1, 2018 the Imperial Countywide Oversight Board (the "CWOB") was established to assist in winding-down the dissolved redevelopment agencies within the County of Imperial; and WHEREAS, per HSC § 34177 (o) (1), the Successor Agency is required to prepare a Recognized Obligation Payment Schedule (the "ROPS") before each twelve-month fiscal year period; and
WHEREAS, pursuant to HSC § 34180 (g), CWOB approval is required for the establishment of each ROPS; and
WHEREAS, pursuant to HSC § 34177 (o) (1), a CWOB-approved ROPS 23-24 A and B for the period of July 2023 through June 2024 must be submitted to the State Department of Finance and to the County Auditor-Controller not later than February 1s for each ROPS cycle (the "Submission Deadline"); and
WHEREAS, pursuant to HSC § 34177, the Successor Agency is legally required to continue to make payments due for enforceable obligations; and WHEREAS, approval of this Resolution will establishment of ROPS 23-24 A and B and will ensure that the Successor Agency has the authority to continue to pay its enforceable obligations; and
WHEREAS, it is proposed that the Successor Agency approve the establishment of the Successor Agency's ROPS 23-24 A and B, which is attached hereto as Exhibit "A"; and WHEREAS, the CWOB will consider Calexico's ROPS 23-24 A during its January 2023 meeting (date pending); and
WHEREAS, once approved, ROPS 23-24 A and B will be filed be submitted to the State
Department of Finance and to the County Auditor-Controller by the Submission Deadline; and WHEREAS, this Resolution has been reviewed with respect to applicability of the California Environmental Quality Act (the "CEQA"), the State CEQA Guidelines (California Code of Regulations, Title 14, § 15000 et seq., hereafter the "Guidelines"), and the City's environmental guidelines; and
WHEREAS, this Resolution does not constitute a "project" for purposes of CEQA, as that term is defined by Guidelines § 15378, because this Resolution is an organizational or administrative activity that will not result in a direct or indirect physical change in the environment, per § 15378 (b) (5) of the Guidelines; and
WHEREAS, all the prerequisites with respect to the approval of this Resolution have been met.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Successor Agency to the Community Redevelopment Agency of the City of Calexico, as follows:
Section 1. The foregoing recitals are true and correct and are a substantive part of this Resolution.
Section 2. The Successor Agency's ROPS 23-24 A and B, which is attached hereto as Exhibit "A", is approved, inclusive of each enforceable obligation.
Section 3. The amount requested for enforceable obligation No. 16, the Successor Agency's Administrative Cost Allowance, is consistent with the provisions of HSC § 34171 (b) and is thus considered fair and reasonable.
Section 4. The City Manager, in her capacity as the Executive Director of the Successor Agency, or designee, is authorized to: i) post that ROPS 23-24 A and B on the City's website, il) transmit the ROPS 23-24 A and B to the State Department of Finance, the State Controller's Office and the County Auditor-Controller for their review within the timeframe and in the manner prescribed by the HSC; and ili) make ministerial revisions to ROPS 23-24 A and B, which may include, but are not limited to restating the information included within ROPS 23-24 A and B in any format that may be requested by the State Department of Finance, take such other actions and execute such other documents as are necessary to effectuate the intent of this Resolution, and to implement ROPS 23-24 A and B on behalf of the Successor Agency, including authorizing and causing such payments.
Section 5. This Resolution is not a "project" for purposes of CEQA, as that term is defined by Guidelines § 15378, because this Resolution is an organizational or administrative activity that will not result in a direct or indirect physical change in the environment, per § 15378 (b) (5) of the Guidelines.
Section 6. This Resolution shall take effect upon the date of its adoption.
PASSED, APPROVED AND ADOPTED this 18" day of January 2023.
Javier Moreno, Chairman
Successor Agency to the Community
Redevelopment Agency of the City of
Calexico
ATTEST:
Gabriela T. Garcia, Secretary to the
Successor Agency to the Community
Redevelopment Agency of the City of Calexico
APPROVED AS TO LEGAL FORM:
City Attorney
CERTIFICATION:
1, Gabriela T. Garcia, Secretary for the Successor Agency to the Community Redevelopment Agency of the City of Calexico, do hereby certity that the foregoing Resolution No. 2023-_ _-SA was duly adopted by the Successor Agency to the Community Redevelopment Agency of the City of Calexico at a meeting thereof held on the 18'" day of January, 2023, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Gabriela T. Garcia, Secretary to the
Successor Agency to the Community
Redevelopment Agency of the City of
Calexico
EXHIBIT "A"
SUCCESSOR AGENCY TO THE
COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF CALEXICO
RECOGNIZED OBLIGATION PAYMENT SCHEDULE 23-24 A and B
(JULY 2023 THROUGH JUNE 2024)
(See Attachment)
Recognized Obligation Payment Schedule (ROPS 23-24) - Summary Filed for the July 1, 2023 through June 30, 2024 Period Successor Agency: Calexico
County: Imperial
23-24A Total 23-24B Total ROPS 23-24
Current Period Requested Funding for Enforceable
Obligations (ROPS Detail) (July - (January - Total
December) June)
A Enforceable Obligations Funded as Follows (B+C+D) $ 1,999,402 $ 15,375 $ 2,014,777 Bond Proceeds
C Reserve Balance 1,815,208 1,815,208
Other Funds 184,194 199,569
E Redevelopment Property Tax Trust Fund (RPTTF) (F+G) 272,181 $ 2,091,628 $ 2,363,809 RPTTF 27,000 2,091,628 2,118,628
G Administrative RPTTF 245,181 245,181
H Current Period Enforceable Obligations (A+E) $ 2,271,583 $ 2,107,003 $ 4,378,586 Certification of Oversight Board Chairman:
Name Title
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. Isl
Signature Date
Calexico
Recognized Obligation Payment Schedule (ROPS 23-24) - ROPS Detail July 1, 2023 through June 30, 2024
ROPS 23-24A (Jul - Dec) ROPS 23-24B (Jan
Item Agreement Agreement Total ROPS - Jun)
Project Name Obligation Execution Termination Payee Description Project Outstanding Retired 23-24 Fund Sources 23-24A 23-24B Type Area Total Fund Sources
Date Date Obligation Total
Reserve RPTTF Admin Other RPTTF
Balance RPTTF Funds
$18,530,767 $4,378,586 $1,815,208 $184,194 $27,000 $245,181 $2,271,583 $15,375 $2,091,628 $2,107,003 2011 TABS (CUSD Bonds 02/221 02/01/2034 BNY Mellon Funding for New Pool at Merged only) Issued After 2011 Trust Calexico High School. Project 12/31/10
7 Securities Servicing Fees 02/221 02/01/2034 Bank of New Annual Securities Merged 77,000 $7,000| 7,000 $7,000 2011 York, Mellon Servicing for all TABS Project
Trust Co...
N.A.
9 Continuing Fees 06/30/ 02/01/2034 Kosmont Services for al ABs Merged| 84,700 $7,700 7,700 $7,700 Disclosure 2004 Transactions Project
Services, Inc.
16 Successor Agency Admin 02/01/ 02/01/2034 City of Successor Agency Merged 250,000 $250,000 4,819 245,181 $250,000 To's Administrative Cost Costs 2012 Calexico Administrative Cost Project Allocation Allocation
21 2014 Refunding Refunding 11/18/ 08/01/2028 Bank of New Refunding of the 2003A Merged 499,125 $271,875 112,875 $112,875 159,000 $159,000 TABS (Interest Bonds 2014 York, Mellon and 2003C TABs Project Only)(Successor Issued After Trust Co., (Successor Agency Agency Only) 6/27/12 N.A. Interest Only)
23 2014 Refunding Refunding 11/18/ 08/01/2028 Bank of New Refunding of the 2003A Merged 4,515,000 $2,740,000 1,335,000 - $1.335,000 1,405,000 $1,405,000 TABs (Principal Bonds York, Mellon and 2003C TABs Project Reduction Issued After Trust Co., (Successor Agency
Only) (Successor 6/27/12 N.A. Principal Reduction Only) Agency Only)
24 2014 Refunding Refunding 11/18/ 08/01/2028 Bank of New Refunding of the 2003A Merged 107.625 $34,750 19,375 $19.375 15,375 $15,375 TABS (CUSD Bonds 2014 York, Mellon and 2003C TABS (CUSD Project Interest Only) Issued After Trust Co.. Interest Only)
6/27/12 N.A.
25 /2014 Refunding Refunding 11/18/ 08/01/2028 Bank of New Refunding of the 2003A Merged 775,000 $160,000 - 160,000 - $160,000 TABS (CUSD Bonds 2014 York, Mellon and 2003C TABS (CUSD Project Principal Reduction Issued After Trust Co.. Principal Reduction Only) Only) 6/27/12 N.A.
CUSD Capital Bond 07/01/ 06/30/2022 CUSD EO # 27 is for CUSD Facilities (Reserved Funded 2015 capita recites rested to Project - See Notes) Project - the replacement of
Calexico High School's
pool.
28 LRPMP Property 06/171 06/30/2024 Selected Customary transaction Merged 20,000 $20,000 - 20,000 $20,000 N.A.
(Principal Only) Trust Co., 12/31/10 Only)
Project 2006 and 2011 TABs York, Mellon Issued After 2020 TABs (Principal 220,000$220,000 - $215,000 215,000 $435,000 | 10,535,000 Merged Refunding of the 2000. 08/01/2033 Bank of New 01/221 Bonds 31 2020A Refunding N.A.
(Interest Only) Trust Co., 12/31/10 Only)
Project 2006 and 2011 TABs York, Mellon Issued After 2020 TABs (Interest 299,928 $299,928 - $152,333 152,333 $452,261 1,667,317 Merged Refunding of the 2000, Bank of New 08/01/2033 01/22/ Bonds 30 2020A Refunding fees, etc.
Legal, costs,
real property per LRPMP appraisals,
[Project costs related to sale of vendors for Dispositions 2015 Implementation RPTTF Funds RPTTF Funds Balance
Other Admin RPTTF Other Reserve
Total Obligation Date Date
Total Fund Sources Total Area Description Payee Type Project Name Fund Sources 23-24 Outstanding Retired Project Execution Termination Item 23-24B 23-24A ROPS Total Obligation Agreement Agreement - Jun) ROPS 23-24A (Jul - Dec)
ROPS 23-24B (Jan
Calexico
Recognized Obligation Payment Schedule (ROPS 23-24) - Report of Cash Balances July 1, 2020 through June 30, 2021
(Report Amounts in Whole Dollars)
Puring sure wald a or Chen paymen form properly tax evenue required by an eureate obligation listed as a source of payment on the ROPS, but only to the extent no other Fund Sources
Bond Proceeds Reserve Balance Other Funds RPTTF
ROPS 20-21 Cash Balances Prior ROPS
Bonds issued RPTTF and Comments
(07/01/20 - 06/30/21) Bonds issued Reserve Rent, grants, Non-Admin on or before 010a111 Balances retained interest, etc. and Admin 12/31/10
for future
period(s)
1 Beginning Available Cash Balance (Actual 07/01/20) 2,309,822 1,245,000 1,330,858 68,431 RPTTF amount should exclude "A" period distribution
amount.
2 Revenue/Income (Actual 06/30/21) 255 4,819 2,701,349
destitution from the Count Audio nitro tal
3 Expenditures for ROPS 20-21 Enforceable Obligations 277,975 1,245,000 372,954 955,257 Actual 06/30/21)
* RePT amount relaned Saoul only no late une amount 2,032,102l 957,904 1,807,050| Column D: Restricted Bond Accounts; Column F: $362,716- Applied to ROPS 21-22/
distributed as reserve for future period(s) 22-23; $595,188 CUSD; Column G:
$55,608-19-20/ 20-21 PPA; $1,751,442 Debt
Reserve for 21-22A payments
5 ROPS 20-21 RPTTF Prior Period Adjustment No entry required 7,473 RPTTF amount should tie to the Agency's ROPS 20-21 PPA
form submitted to the CAC
6 Ending Actual Available Cash Balance (06/30/21) $4,819 $- Ending Balance is applied to ROPS 23-24.
C to F = (1 + 2-3-4), G = (1+2-3-4-5)
Calexico
Recognized Obligation Payment Schedule (ROPS 23-24) - Notes July 1, 2023 through June 30, 2024
Item # Notes/Comments
6 Per the 9-8-2022 Settlement Agreement approved by the DOF, the 2011 CUSD TABs will be fully redeemed on 2-1-2023. The bond redemption retires this line item. 7 16
21 The Successor Agency issued its 2014 Refunding TABs on 11-18-14 (refunding the 2003A and 2003C TABs). The 2014 Refunding TABs have superseded the debt service on the 2003A and 2003C TABs.
This item is the interest only portion attributable to the Successor Agency. Consistent with the TAB pledge of tax revenues, calendar year debt service is requested during the "B" ROPS cycle, and the "A" ROPS cycle debt service is paid from the prior year's RPTTF debt service reserve. 23 The Successor Agency issued its 2014 Refunding TABs on 11-18-14 (refunding the 2003A and 2003C TABs). The 2014 Refunding TABs have superseded the debt service on the 2003A and 2003C TABs.
This item is the principal reduction only portion attributable to the Successor Agency), which is due during the "A" ROPS cycle. Consistent with the TAB pledge of tax revenues, calendar year debt service is requested during the "B" ROPS cycle, and the "A" ROPS cycle debt service is paid from the prior year's RPTTF debt service reserve.
24 The Successor Agency issued its 2014 Refunding TABs on 11-18-14 (refunding the 2003A and 2003C TABs). The 2014 Refunding TABs have superseded the debt service on the 2003A and 2003C TABs.
This line item is the interest portion attributable to the CUSD. Debt service is paid through CUSD RPTTF pass-through funds.
25 The Successor Agency issued its 2014 Refunding TABs on 11-18-14 (refunding the 2003A and 2003C TABs). The 2014 Refunding TABs have superseded the debt service on the 2003A and 2003C TABs.
This line item is the principal reduction portion attributable to the CUSD. Debt service is paid through CUSD RPTTF pass-through funds.
27 Through the 9-8-22 Settlement Agreement approved by the DOF, the 2011 CUSD TAB capital facilities bond proceeds have been used to redeem the 2011 CUSD bonds on 2-1-23. The bond redemption retires this line item.
28 This line item is for costs for LRPMP Implementation (property disposal). Costs may include selected vendors for appraisals, legal costs, and other fees. The Successor Agency has two (2) remaining LRPMP property sites for disposal.
30 The 2020A Refunding TABs refinanced the 2000, 2008, & 2011 TABs. This line item is for the interest portion of the debt service. Consistent with the TAB pledge of tax revenues, calendar year debt service is requested during the "B" ROPS cycle, and the "A" ROPS cycle debt service is paid from the prior year's RPTTF debt service reserve.
31 The 2020A Refunding TABs refinanced the 2000, 2008, & 2011 TABs. This line item is for the principal reduction portion of the debt service. Consistent with the TAB pledge of tax revenues, calendar year debt service is requested during the "B" ROPS cycle, and the "A" ROPS cycle debt service is paid from the prior year's RPTTF debt service reserve.
RESOLUTION NO. 2023-_
RESOLUTION THE CITY CALEXICO APPROVING
A 2022-23 MIDYEAR BUDGET AMENDMENT
WHEREAS, the City Council reaffirmed and updated the 2022-23 Annual Budget on August 10, 2022; and
WHEREAS, the City Council received a 1' Quarter budget update and amended the 2022- 23 budget on November 17, 2022; and
WHEREAS, the City Manager has prepared a 2nd Quarter 2022-23 budget update to brief City Council on the City's current budget status, including 2022-23 revenue trends and year-to- WHEREAS, the City Manager has proposed a 2nd Quarter budget adjustment as listed in Exhibit 1 to this resolution; and
WHEREAS, this Resolution does not constitute a "project" for purposes of CEQA, as that term is defined by CEQA Guidelines § 15378, because this Resolution is an administrative activity that will not result in a direct or indirect physical change in the environment, per § 15378 (b) (5) of the CEQA Guidelines; and
NOW, THEREFORE, BE IT HEREBY RESOLVED, DETERMINED, AND
ORDERED BY THE CITY COUNCIL OF THE CITY OF CALEXICO, AS FOLLOWS:
Section 1. The foregoing recitals are true and correct and are a substantive part of this Resolution.
Section 2. The 2022-23 budget is amended as listed in Exhibit 1 to this Resolution.
Section 3. The City Manager is authorized to allocate (1) the budgeted vacancy savings target between General Fund departments as needed to match the savings realized by various departments.
Section 4. This Resolution is not a "project" for purposes of CEQA, as that term is defined by Guidelines § 15378, because this Resolution is an administrative activity that will not result in a direct or indirect physical change in the environment, per § 15378 (b)(5) of the Guidelines.
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PASSED AND ADOPTED at a meeting of the City Council of the City of Calexico this 18th day of January, 2023.
Javier Moreno, Mayor
ATTEST:
Gabriela T. Garcia, City Clerk
APPROVED AS TO FORM:
Carlos Campos, City Attorney
STATE OF CALIFORNIA )
COUNTY OF IMPERIAL ) SS.
CITY OF CALEXICO
1, Gabriela T. Garcia, Deputy City Clerk of the City of Calexico do hereby certify that the foregoing Resolution No. 2023-xx was passed and adopted by the City Council on the 18th day of November 2023 by the following vote to-wit:
AYES:
NOES:
ABSTAIN:
ABSENT:
Gabriela T. Garcia, City Clerk
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