RESOLUTTON NO. OB-2101-01
A RESOLUTION OF THE LOS ANGELES COUNTY 4TH
SUPERVISORIAL DISTRICT CONSOLIDATED OVERSIGHT
BOARD APPROVING AND ADOPTING A RECOGNIZED
OBLIGATION PAYMENT SCHEDULE PURSUANT TO
CALTFORNTA HEALTH AND SAFETY CODE SECTTON 3417711l,, OF THE SUCCESSOR AGENCY OF THE FORMER
REDEVELOPMENT AGENCY TO THE CITY OF REDONDO
BEACH
WHEREAS, pursuant to ABx 1 26, enacted on June 28, 2011, and as subsequently amended by AB 1484, SB 341, and SB107 ("Dissolution Act"), the Redevelopment Agency to the City of Redondo Beach was dissolved as of February 1, 2012, and the City of Redondo Beach elected to serve as the Successor Agency to the former Redevelopment Agency to the City of Redondo Beach by Resolution No. CC1201-561.
WHEREAS, pursuant to Health and Safety Code Section 34179 (q), commencing on and after July 1, 2018, the County of Los Angeles, where more than 40 oversight boards were created by the Dissolution Act, shall have five consolidated oversight boards each encompassing the five supervisorial districts;
WHEREAS, the 4rH Supervisorial District Consolidated Oversight Board ("Oversight Board") has jurisdiction over the Successor Agency of the Former Redevelopment Agency to the City of Redondo Beach.
WHEREAS, the 4rH Supervisorial District Consolidated Oversight Board held a special meeting on January 26,2021.
WHEREAS, Health and Safety Code section 34177(m) requires the Successor Agency to prepare a recognized obligation payment schedule ("ROPS") covering the period of July 1 , 2021 to June 30,2022, at least g0 days before the date of property tax distribution, which the City Department of Finance has determined to be February 1, 2021: and
WHEREAS, Health and Safety Code section 34177(l)(2) requires the Successor Agency to submit the ROPS to the Successor Agency's Oversight Board for its approval, and upon such approval, the Successor Agency is required to submit a copy of the approved ROPS ("Approved ROPS") to the Los Angeles County ("County") AuditorController, the County Administrative Officer, the California State ("State") Controller, and the State Department of Finance, and post the Approved ROPS on the Successor Agency's website; and
RESOLUTTON NO. OB-21 01-01
SUCCESSOR AGENCY ROPS
PAGE NO. 1
WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred.
NOW, THEREFORE, THE LOS ANGELES COUNTY 4TH SUPERVISORIAL
DISTRICT CONSOLIDATED OVERSIGHT BOARD DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The recitals set forth above are true and correct and are incorporated into this Resolution by this reference.
SECTION 2. The approval of the ROPS through this Resolution does not commit the Successor Agency to any action that may have a significant effect on the environment.
As a result, such action does not constitute a project subject to the requirements of the California Environmental Quality Act. The City Clerk is authorized and directed to file a Notice of Exemption with the appropriate official of the County of Los Angeles, California, within five (5) days following the date of adoption of this Resolution.
SECTION 3. The Oversight Board of the Successor Agency approves and adopts the ROPS, in substantially in the form attached to this Resolution as Exhibit "A", as required by Health and Safety Code Section 34177.
SECTION 4. The City Manager is hereby authorized and directed to take any action necessary to carry out the purposes of this Resolution and comply with applicable law regarding the ROPS, including submitting the ROPS to the County Auditor-Controller, the County Administrative Officer, the State Controller, State Department of Finance, and the Successor Agency's oversight board, and following approval of the ROPS by the oversight board, submitting the approved ROPS to the County Auditor-Controller, the County Administrative Officer, the State Controller, and the State Department of Finance, and posting the approved ROPS on the Successor Agency's website.
SECTION 5. This Resolution shalltake effect immediately upon its adoption RESOLUTION NO. OB-21 O.,I-01
SUCCESSOR AGENCY ROPS
PAGE NO.2
PASSED, APPROVED AND ADOPTED this 26th day of 2021. by the following vote:
Ayes: R. Bowers, S. Koffroth, D. Maloney, Y. Takahashi, J. Wilson Noes: None
Abstain: None
Absent: None
ATTEST:
_Martha Arana___ . Deputy Clerk 4th
District Consolidated Oversight Board
RESOLUTION NO 08-2101-01
SUCCESSOR AGENCY ROPS
PAGE NO 3
Jayme Wilson
Chair, 4
1h District Consolidated
Oversight Board
Redondo Beach
Recognized Obligation Payment Schedule (ROPS 21-22) - ROPS Detail July 1, 2021 through June 30, 2022
A B C D E F G H I J K L M N O P Q R S T U V W
Item
# Project Name Obligation Type
Agreement
Execution
Date
Agreement
Termination
Date
Payee Description Project
Area
Total
Outstanding
Obligation
Retired
ROPS
21-22
Total
ROPS 21-22A (Jul - Dec)
21-22A
Total
ROPS 21-22B (Jan - Jun)
21-22B
Total
Fund Sources Fund Sources
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin RPTTF
Bond
Proceeds
Reserve
Balance
Other
Funds
RPTTF
Admin
RPTTF
$18,066,597 $2,399,883 $- $- $- $148,135 $125,000 $273,135 $- $- $- $2,001,748 $125,000 $2,126,748 2 1996 Tax
Allocation
Bonds
Revenue
Bonds
Issued
On or
Before
12/31/10
07/01/
1996
07/01/2026 US Bank Improvements
within South
Bay Center
project area
All 3,260,000 N $836,770 - - - 145,885 - $145,885 - - - 690,885 - $690,885 4 County
Deferral
Loans
ThirdParty
Loans
02/14/
1984
06/30/2032 County
of Los
Angeles
Aviation
Project Areas
All 6,631,711 N $543,564 - - - - - $- - - - 543,564 - $543,564 7 RDA Bonds Fees 07/01/
2021
06/30/2022 US Bank Bond Trustee All - N $- - - - - - $- - - - - - $- 8 Administration
Costs
Admin
Costs
07/01/
2021
06/30/2022 City of
Redondo
Beach
Annual
amount
estimated to
be paid to the
City for
Agency
administration
services
All 250,000 N $250,000 - - - - 125,000 $125,000 - - - - 125,000 $125,000 9 County
Deferral
Loans
ThirdParty
Loans
11/15/
1983
06/30/2027 County
of Los
Angeles
South Bay
Center
All 6,229,974 N $767,299 - - - - - $- - - - 767,299 - $767,299 12 RDA Bonds Fees 07/01/
2021
06/30/2022 BLX
Group
Bond
arbitrage
rebate
calculations
All 2,250 N $2,250 - - - 2,250 - $2,250 - - - - - $-
13 Supplemental
Educational
Revenue
Augmentation
Fund Loan
SERAF/
ERAF
06/15/
2010
06/30/2022 Redondo
Beach
Housing
Authority
Funding for
local school
districts
All 1,403,671 N $- - - - - - $- - - - - - $-
14 Supplemental
Educational
Revenue
Augmentation
Fund Loan
SERAF/
ERAF
05/03/
2011
06/30/2022 Redondo
Beach
Housing
Authority
Funding for
local school
districts
All 288,991 N $- - - - - - $- - - - - - $-
Redondo Beach
Recognized Obligation Payment Schedule (ROPS 21-22) - Report of Cash Balances July 1, 2018 through June 30, 2019
(Report Amounts in Whole Dollars)
Pursuant to Health and Safety Code section 34177 (l), 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.
A B C D E F G H
ROPS 18-19 Cash Balances
(07/01/18 - 06/30/19)
Fund Sources
Comments
Bond Proceeds Reserve Balance Other Funds RPTTF
Bonds issued
on or before
12/31/10
Bonds issued
on or after
01/01/11
Prior ROPS
RPTTF and
Reserve
Balances retained
for future
period(s)
Rent, grants,
interest, etc.
Non-Admin
and Admin
1 Beginning Available Cash Balance (Actual 07/01/18)
RPTTF amount should exclude "A" period distribution
amount.
- 473,971 2,250
2 Revenue/Income (Actual 06/30/19)
RPTTF amount should tie to the ROPS 18-19 total
distribution from the County Auditor-Controller
245,854 1,195,069
3 Expenditures for ROPS 18-19 Enforceable Obligations
(Actual 06/30/19)
- 1,192,803
4 Retention of Available Cash Balance (Actual 06/30/19) RPTTF amount retained should only include the amounts
distributed as reserve for future period(s)
5 ROPS 18-19 RPTTF Prior Period Adjustment
RPTTF amount should tie to the Agency's ROPS 18-19 PPA
form submitted to the CAC
No entry required
2,266
6 Ending Actual Available Cash Balance (06/30/19)
C to F = (1 + 2 - 3 - 4), G = (1 + 2 - 3 - 4 - 5)
$- $- $- $719,825 $2,250
Redondo Beach
Recognized Obligation Payment Schedule (ROPS 21-22) - Notes July 1, 2021 through June 30, 2022
Item # Notes/Comments
2 4
7 8
9 12
13 14