2022-001 CMS — Oakland City Council, January 18, 2022

r!L£DOFFICE OF THE CITY CLERK

OAKLAND
22 JAN -6 Prti:04

APPROVED AS TO FORM AND LEGALITY

ORSA COUNSEL
l
Oakland! redevelopment

SUCCESSOR AGENCY
RESOLUTION NO. _2JL2_2_QJLL_ C.M.S.

RESOLUTION APPROVING THE SUBMISSION OF A RECOGNIZED

OBLIGATION PAYMENT SCHEDULE AND OAKLAND

REDEVELOPMENT SUCCESSOR AGENCY ADMINISTRATIVE
BUDGET FOR JULY 1, 2022 THROUGH JUNE 30, 2023, AND

TRANSMISSION OF BOTH TO THE COUNTYWIDE OVERSIGHT

BOARD, THE ALAMEDA COUNTY AUDITOR-CONTROLLER AND

THE STATE DEPARTMENT OF FINANCE FOR APPROVAL
WHEREAS, California Health and Safety Code Section 34177(o), as amended, requires a successor agency to prepare a Recognized Obligation Payment Schedule (“ROPS”) listing the former redevelopment agency’s recognized enforceable obligations, payment sources, the successor agency’s excess bond proceeds obligations, and related information for each fiscal year period; and
WHEREAS, California Health and Safety Code Section 34177(1), as amended, requires that a ROPS be submitted to and approved by the oversight board, and submitted to the County Administrator, the County Auditor-Controller, the State Controller, and the California Department of Finance; and
WHEREAS, California Health and Safety Code Section 34177(j) requires a successor agency to prepare a proposed administrative budget for submission to the oversight board for approval; and
WHEREAS, California Health and Safety Code Section 34177 (m)(l)(A) provides that the successor agency shall complete the ROPS in the manner provided for by the Department of Finance; and
WHEREAS, the Oakland Redevelopment Successor Agency (“ORSA”) has prepared a ROPS for July 1, 2022 through June 30, 2023, otherwise referred to as “ROPS 22-23”; and WHEREAS, the ORSA Board wishes to submit the ROPS 22-23 to the Alameda County Administrator, Alameda County Auditor-Controller, Countywide Oversight Board, State Controller, and the Department of Finance for review and approval, as required; and 264$873v6 - updated 01/13/2021

WHEREAS, the ROPS 22-23, when approved, will be operative on July 1, 2022, and will govern payments by ORSA after this date; and
WHEREAS, ORSA has prepared a proposed administrative budget for July 1, 2022 through June 30, 2023 and wishes to submit said administrative budget to the Countywide Oversight Board for approval; now, therefore, be it
RESOLVED: That the ORSA Board hereby approves that ROPS for July 1, 2022 through June 30, 2023, attached to this Resolution as Exhibit A, and authorizes staff to submit the ROPS 22-23 to the Countywide Oversight Board, Alameda County Administrator, Alameda County Auditor-Controller, State Controller, and California Department of Finance for review and approval as required per State dissolution laws; and be it FURTHER RESOLVED: That the approved ROPS 22-23 shall substantially govern payments by ORSA during the ROPS 22-23 period; and be it FURTHER RESOLVED: That the approval and submission of the ROPS 22-23 does not constitute preapproval of any project, contract, or contractor by the City; and be it FURTHER RESOLVED: That the ORSA Board hereby approves that administrative budget for July 1, 2022 through June 30, 2023, attached to this Resolution as Exhibit B, for submission to the Countywide Oversight Board for approval as required per State dissolution laws; and be it
FURTHER RESOLVED: That the approved ROPS 22-23 and administrative budget together shall constitute the annual budget of ORSA; and be it FURTHER RESOLVED: That the ORSA Board hereby authorizes the ORSA Administrator or designee to appropriate funds or amend- budget amounts as necessary for conformance with the final approved ROPS; and be it
FURTHER RESOLVED: That the ORSA Board hereby authorizes the ORSA Administrator or designee to expend, in accordance with the laws of the State of California and the City of Oakland on behalf of ORSA, appropriations for projects and activities as incorporated in the approved ROPS and administrative budget; and be it FURTHER RESOLVED: That the ORSA Board hereby authorizes the ORSA Administrator or designee to transfer funds between operating funds, debt funds and capital funds to correct deficits in any of the funds as permitted by law; and to close inactive funds and transfer residual balances from these inactive funds to other active funds consistent with the approved ROPS and administrative budget; and be it
FURTHER RESOLVED: That the ORSA Administrator or designee is authorized to reimburse or otherwise make payments to the City of Oakland for all costs incurred, services rendered and payments made by the City pursuant to the approved ROPS 22-23 and administrative budget; and be it
2 FURTHER RESOLVED: That the ORSA Administrator or designee may transfer operating appropriations within the administrative budget between activity programs or expenditure accounts during the designated period provided that such funds remain within the total administrative budget authorized; and be it
FURTHER RESOLVED: That the ORSA Administrator or designee is authorized to revise the ROPS 22-23 to conform to the ROPS format prescribed by the Department of Finance when available; and be it
FURTHER RESOLVED: That the ORSA Administrator is authorized to revise the submitted ROPS 22-23 and/or administrative budget based on changes required as part of the County and state review and approval process or new information, adjust payment amounts listed on the ROPS 22-23 to reflect actual expenses incurred, and take any other action with respect to the ROPS 22-23 and the administrative budget consistent with this Resolution and its basic purposes; and be it
FURTHER RESOLVED: That the ORSA Board has determined that the actions authorized under this Resolution are not subject to the California Environmental Quality Act (“CEQA”), pursuant to CEQA Guidelines Section 15060.

BY SUCCESSOR AGENCY, OAKLAND, CALIFORNIA,
JAN 18 m;l
PASSED BY THE FOLLOWING VOTE:

AYES - FIFE, GALLO, KALB, KAPLAN, REID, TAYLOR, THAO AND

PRESIDENT FORTUNATO BAS
NOES-
9ABSENT-

ABSTENTION -
ATTEST:

REED
Secretary df the Oakland Redevelopment
Successor Agency
3 EXHIBIT A
ROPS 22-23
{attached)
4 Recognized Obligation Payment Schedule (ROPS 22-23) - Summary Filed for the July 1,2022 through June 30, 2023 Period
Successor Agency:

County:

Oakland
Alameda
22-23A Total
(July - December)
22-23B Total
(January - June)Current Period Requested Funding for Enforceable Obligations (ROPS Detail) ROPS 22-23 Total $ 24,924,384A Enforceable Obligations Funded as Follows (B+C+D):

Bond Proceeds
Reserve Balance
Other Funds
E Redevelopment Property Tax Trust Fund (RPTTF) (F+G):

RPTTF
Administrative RPTTF
H Current Period Enforceable Obligations (A+E):
24,924,384
,,211,777;
||S®!
260,000
13,401,401
8,211 777
16,462.607
260,0C
35,545,240
B 8
C
D 0
13,839 SS___ $
13,043,510
357,891
85,948
357,891
34 829,458
/15.782
F
G
S 22,143,839 $ 60,469,62438,325,785
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.

Barbara Halliday Chairperson
Name Title
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OeklsnO Recognized Obllgetlon P»yment Seltedule (ROPS 22-23) • ROPS Detail July 1,2022 through Jura 30.2023
(Report Amounts In Whole Pollan)
■ar
____________________22-23A (Julv-Decemturt
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Bit 1/2015 ZMs PM NMere Berk
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jzO’BTsceote Botes DeM -- BPng Botes IsscM Alter wenrglen rrua N A 2016 bond ffjUl rePste ma>>W,
ccffBen Rekfterfl,
wet* 2350,313
Parte B bonl pasmertte i
Page6cf JO ROPS Oetell

Oakland Recognized Obligation Payment Schedule (ROPS 22-23) - Report of Cash Balances July 1, 2019 through June 30, 2020
__________________________(Report Amounts in Whole Dollars) _______________________ Pursuant to Health and Safety Code section 34177 (I), 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______________ ____________

A B C D E G H I
Fund Sources
Reserve Balance Bond Proceeds Other RPTTF
Prior ROPS RPTTF and
Reserve Balances retained
for future period(s)
Non-AdminBonds issued on
or before 12/31/10
Bonds issued on
or after 01/01/11
Rent,
grants,
interest, etc.

ROPS 19-20 Cash Balances
(07/01/19 - 06/30/20)
and
Admin Comments
Beginning Available Cash Balance (Actual 07/01/19)1
1,524,11510,329,794 6,371,033 33,234,190 7,761,764
2 Revenue/Income (Actual 06/30/20)
RPTTF amounts should tie to the ROPS 19-20 total distribution from the County Auditor-Controller
826,886 203,758 997,858 59,731,046
3 Expenditures for ROPS 19-20 Enforceable Obligations (Actual 06/30/20) 18,324,7014,802,400 9,970,000 33,234,190 46,052
4 Retention of Available Cash Balance (Actual 06/30/20) RPTTF amount retained should only include the amounts''distributed as reserve for future period(s)
4,807,536 5,063,851 25,142,369
ROPS 19-20 RPTTF Balances.Remainlng
RPTTF amount should tie to the Agency's ROPS 19-20 PPAform submitted to the CACn
5 P
ntr) i
li
5,313,165
En Balance (06/30/20)
4), H = (1 + 2 - 3 - 4 + 5)
Cas6 ilaingAch Ava
: to
1B.712 57$ 546,744 $ •60 2,4755459,

Oakland Recognized Obligation Payment Schedule (ROPS 22-23) - Notes July 1, 2022 through June 30, 2023 3 5
6 Disallowed by DOF (ROPS 17-18).7
Disallowed by DOF (ROPS 17-18).8
10 Disallowed by DOF (ROPS 17-18).
14 Per 34171(b); This is a statutory requirement that has no agreement with specified start or termination dates. Many of these obligations are dependent on other obligations; i.e. project and administrative staff and other operating costs are needed to manage all of the Agency's obligations until they are all concluded, or property is required to be remediated and maintained until it is sold or otherwise transferred; with various terms. 17 In order to conform to the bond indenture, all of the full year of debt service is requested during the January 2nd RPTTF distribution. Amounts not needed for the March 1st debt service payment will be held in reserve for the September 1st debt service payment.

Federal Recovery Zone Subsidy is not guaranteed, so RPTTF request to cover full debt service payment. In order to conform to the bond indenture, all of the full year of debt service is requested during the January 2nd RPTTF distribution. Amounts not needed for the March 1st debt service payment will be held in reserve for the September 1st debt service payment. 18 19 Bond proceeds held with fiscal agent and ORSA pool; no termination date 20 Bond Covenants associated with 2006C T Bonds that were refunded by the 2015-TE Refunding Bonds (ROPS Line 644). 21 Bond proceeds held with fiscal agent and ORSA pool; no termination date 23 24
25 Per Patrick Lane, ok to retire 12.21.2021
26 Per Patrick Lane, ok to retire 12.21.2021
Project estimated to be completed in 2022. -BH 12.21.202130 54 Per 34171 (b); This is a statutory requirement that has no agreement with specified start or termination dates. Many of these obligations are dependent on other obligations; i.e. project and administrative staff and other operating costs are needed to manage all of the Agency's obligations until they are all concluded, or property is required to be remediated and maintained until it is sold or otherwise transferred; with various terms. 60 61
68 Bond proceeds held by ORSA pool; no termination date 70 Bond proceeds held with fiscal agent and ORSA pool; no termination date 71 Bond proceeds held with fiscal agent and ORSA pool; no termination date 72 Bond proceeds held by ORSA pool; no termination date 73 Bond proceeds held with fiscal agent and ORSA pool; no termination date 74 84 Monitoring and enforcement of developer post-construction obligations must be performed for the life of the Redevelopment Plan for the Project Area.

Maintain until property is sold.

Monitoring and enforcement of developer post-construction obligations must be performed for the life of the Redevelopment Plan for the Project Area.

The Agency may be required to 1) modify agreements; 2) provide evidence that there are no defaults on the project when there is refinancing;.or 3) monitor profit sharing or other provisions of the agreement. In addition, several of the post- construction obligations, such as nondiscrimination provisions included in the agreements, are effective in perpetuity. No termination date.

Will maintain until the project is completed in 2022.

Monitoring and enforcement of developer post-construction obligations must be performed for the life of the Redevelopment Plan for the Project Area.

The Agency may be required to 1) modify agreements; 2) provide evidence that there are no defaults on the project when there is refinancing; or 3) monitor profit sharing or other provisions of the agreement. In addition, several of the post- construction obligations, such as nondiscrimination provisions included in the agreements, are effective in perpetuity. 105 Obligation to remain until property is sold. Per Plane, 12.21.2021 Obligation amount unknown.106
200 In order to conform to the bond indenture, all of the full year of debt service is requested during the January 2nd RPTTF distribution. Amounts not needed for the March 1st debt service payment will be held in reserve for the September 1st debt service payment. 202 Bond proceeds held by fiscal agent.
203 Bond proceeds held by fiscal agent.
204
207 Amount owed to the LowMod fund is outstanding related to removing affordability restrictions. 241 Per 34171(b); This is a statutory requirement that has no agreement with specified start or termination dates. Many of these obligations are dependent on other obligations; i.e. project and administrative staff and other operating costs are needed to manage all of the Agency's obligations until they are all concluded, or property is required to be remediated and maintained until it is sold or otherwise transferred; with various terms.

In order to conform to the bond indenture, all of the full year of debt service is requested during the January 2nd RPTTF distribution. Amounts not needed for the March 1st debt service payment will be held in reserve for the September 1st debt service payment. ___________________ 246
247
250
251
352
353 Funded from LMIHF.
354 Funded from LMIFIF. Obligation complete/closed.

Estimated completion; No termination date. Funded from LMIHF; Project in arbitration.359 Project Notice of Completion Mailed in 2019. Will retire this project after FY 22-23.

Oakland Recognized Obligation Payment Schedule (ROPS 22-23) - Notes July 1,2022 through June 30, 2023 370 Per 34171 (b); This is a statutory requirement that has no agreement with specified start or termination dates. Many of these obligations are dependent on other obligations; i.e. project and administrative staff and other operating costs are needed to manage all of the Agency's obligations until they are all concluded, or property is required to be remediated and maintained until it is sold or otherwise transferred; with various terms.

Requesting what was denied in FY 20-21 and FY 21-22
Per 34171(b); This is a statutory requirement that has no agreement with specified start or termination dates. Many of these obligations are dependent on other obligations; i.e. project and administrative staff and other operating costs are needed to manage all of the Agency's obligations until they are all concluded, or property is required to be remediated and maintained until it is sold or otherwise transferred; with various terms. 371
372 Bond proceeds held with fiscal agent and ORSA pool; estimated completion - no termination date.

Bond proceeds held with fiscal agent and ORSA pool; estimated completion - no termination date.

Bond proceeds held with fiscal agent and ORSA pool; estimated completion - no termination date. 377
380
383 This is a statutory requirement that has no agreement with specified start or termination dates. Many of these obligations are dependent on other obligations; i.e. project and administrative staff and other operating costs are needed to manage all of the Agency's obligations until they are all concluded, or property is required to be remediated and maintained until it is sold or otherwise transferred; with various terms.

Matching funds to come from Housing Successor program income. No termination date. Funded from LMIHF.389 396
397 Estimated completion; No termination date.
398 Estimated completion; No termination date.
399 Estimated completion; No termination date.
400 Estimated completion; No termination date.
401 Estimated completion; No termination date.
402 Estimated completion; No termination date.
403 Estimated completion; No termination date.
419
421 Per ROPS 16-17, reimbursing 2011 bonds funds spent with RPTTF over a 7 year period (through ROPS 22-23).

Per ROPS 16-17, reimbursing 2011 bonds funds spent with RPTTF over a 7 year period (through ROPS 22-23).422 Estimated completion - no termination date; using reimbursed 2011 bond funds from ROPS lines 421-422.423 426 West Oakland loan indebtedness to City of Oakland authorized per Oakland Oversight Board Resolution 2013-16; no termination date; Requesting reconsideration.
632 Refunded 2003 and 2005 CD debt. In order to conform to the bond indenture, all of the full year of debt service is requested during the January 2nd RPTTF distribution. Amounts not needed for the March 1st debt service payment will be held in reserve for the September 1st debt service payment.

Future excess bond proceeds to be transferred to the City per the Bond Expenditure Agreement approved by OB and DOF and executed Nov 8, 2013.635 636 Future excess bond proceeds to be transferred to the City per the Bond Expenditure Agreement approved by OB and DOF and executed Nov 8, 2013.

Future excess bond proceeds to be transferred to the City per the Bond Expenditure Agreement approved by OB and DOF and executed Nov 8, 2013.637 638 Future excess bond proceeds to be transferred to the City per the Bond Expenditure Agreement approved by OB and DOF and executed Nov 8, 2013. 639 Future excess bond proceeds to be transferred to the City per the Bond Expenditure Agreement approved by OB and DOF and executed Nov 8, 2013.

Existing resen/e amounts required per bond covenants.640 Existing resen/e amounts required per bond covenants.642 644 2015 Bonds refund 2006 TE bonds (partial for Coliseum), plus Housing Taxable for savings. 646
647
648
650
651
652
653
644
2015 Bonds refund 2006 TE bonds (partial for Coliseum), plus Housing Taxable for savings. 646
647
648
650
651
652
653

EXHIBIT B

SUCCESSOR AGENCY ADMINISTRATIVE BUDGET
(attached)
5 ORSA Estimated
Administrative Budget
Finance & Management 618,979
_________________________City Supplies
Accounting & Auditing Services
Internal Services & Work Orders
2,442
24,300
70,062

Oakland City CouncilJanuary 18, 2022

Oakland City Council
January 18, 2022