RESOLUTION NO. OB-2301-01
SUCCESSOR AGENCY ROPS
PAGE NO. 1
RESOLUTION NO. OB-2301-01
A RESOLUTION OF THE LOS ANGELES COUNTY 4
TH
SUPERVISORIAL DISTRICT CONSOLIDATED OVERSIGHT
BOARD APPROVING AND ADOPTING A RECOGNIZED
OBLIGATION PAYMENT SCHEDULE PURSUANT TO
CALIFORNIA HEALTH AND SAFETY CODE SECTION 34177(l),
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 4TH 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 4TH Supervisorial District Consolidated Oversight Board held a special meeting on January 25, 2023.
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, 2023 to June 30, 2024, at least 90 days before the date of property tax distribution, which the City Department of Finance has determined to be February 1, 2023; 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
RESOLUTION NO. OB-2301-01
SUCCESSOR AGENCY ROPS
PAGE NO. 2
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 shall take effect immediately upon its adoption.
RESOLUTION NO. OB-2301-01
SUCCESSOR AGENCY ROPS
PAGE NO. 3
PASSED, APPROVED AND ADOPTED this 25th day of January, 2023, by the following vote:
Ayes:
Noes:
Abstain:
Absent:
____________________________
Jayme Wilson, Chair
Fourth Supervisorial District
Consolidated Oversight Board
ATTEST:
___________________________________
Martha Arana, Deputy Clerk
Fourth Supervisorial District
Consolidated Oversight Board
R. BOWERS; S. KOFFROTH; D. SOTO; Y. TAKAHASHI; E.H.J. WILSON; J. WILSON NONE
NONE
M. MUÑOZ
Recognized Obligation Payment Schedule (ROPS 23-241- Summary Filed for the July 1 ,2023 through June 30,2024 Period
Successor Agency: Redondo Beach
County: Los Angeles
Current Period Requested Funding for Enforceable
Obligations (ROPS Detail)
23-24ATotal
(July -
December)
23-248Total
(January -
June)
ROPS 23-24
Total
A Enforceable Obligations Funded as Follows (B+C+D)
B Bond Proceeds
C Reserve Balance
D Other Funds
E Redevelopment Property Tax Trust Fund (RPTTF) (F+G)
F RPTTF
G Administrative RPTTF
H Current Period Enforceable Obligations (A+E)
$ $
$ 219,870 $ 864,870 $ 1,084,740
$
94,870
125,000
739,870
125,000
834,740
250,000
$ 219,870 $ 864,870 $ 1,084,740
Gertification 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.
Name Title
lsl
Signature Date
Jayme Wilson Chair
1/25/2023
Rodondo Beach
Recognlzed Obligation Payment Schedule (ROPS 23-24) - ROPS Detail July 1, 2023 through June 30,2024
A B c D E F G H I J K L M N o P a R s T U v w
Item
#
Pro,ect Name Type
Agreement
Termination
Date
Payee Description Proiect
Area
Total
Outstanding
Obligation
Retired
ROPS
23-21
Total
ROPS 23-2t[A (Jut - Dec)
23-AA
Total
23-218
Total Date
Fund Sourceg Fund Sources
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF AdminRPTTF
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
$14,739,460 $1,084,740 $- $- $- $94,870 $125,000 $219,870 2 1 996 Tax
Allocation
Bonds
Revenue
Bonds
lssued
On or
Before
1Z31t',tO
07t01t
1 996
oTto'12026 US Bank lmprovements
within South
Bay Center
projecl area
Ail 2,510,668 N $834,740 94,870 $94,870 739,870 $739,870 4 County
Defenal
Loans
ThirdParty
Loans
02114t
1984
06,t3012032 County
of Los
Angeles
Aviation
Project Areas
Ail 5,602,498 N $- $- $-
7 ROA Bonds Fees 07tolt
2022
06130t2023 US Bank Bond Trustee AI $- $- $-
I Administration
Costs
Admin
Costs
07lo1l
2023
06t30t2024 City of
Redondo
Beach
Annual
amount
estimated to
be paid to the
Cig for
Agency
administration
seruices
Ail 250,000 N $250,000 125,000 $125,000 125,000 $12s,000 I County
Defenal
Loans
Thir&
Party
Loans
't1l15t
1983
0613012028 County
of Los
Angeles
South Bay
Center
Ail 4,683,632 N $- $- $-
13 Supplemental
Educational
Revenue
Augmentation
Fund Loan
SERAF/
ERAF
06/1 5/
2010
06t30t2024 Redondo
Beach
Housing
Authority
Funding for
local school
districts
AI 1,403,671 N $- $- $-
14 Supplemental
Educational
Revenue
Augmentation
Fund Loan
SERAF/
ERAF
05/03/
2011
06t3012024 Redondo
Beach
Housing
Authority
Funding for
local school
districts
Ail 288,991 N $- $- $-
ROPS 23-248 (Jan - Jun)
$- $- $ $739,870 $12s,000 $8e,870
Redondo Beach
Recognized Obligation Payment Schedule (ROPS 23-241- Report of Gash Balances July 1,2020 through June 30,2021
(Report Amounts in Whole Dollars)
tundlng Eourco is availabb or whsn payment fiom prop€rty lex Bvonues b requi€d by an 6nforE65bl6 obligalion.
A B c D E F G H
ROPS 20-21 Cash Balances
(07to1t2o - 06/30/2r)
Fund Sources
Comments
Bond Proceeds Reserve Balance Other Funds RPTTF
Bonds issued
on or before
12131t10
Bonds issued
on or after
ollo'U11
Prior ROPS
RPTTF and
Reserve
Balances retained
for future
period(s)
Rent, grants,
interest, etc.
Non-Admin
and Admin
,l Beginning Available Gash Balance (Actual 07l01l20l
RPTTF amount should exclude "A" period distribution
amount.
895,099 2,2U
2 Revenuefl ncome (Actual 06/30/21 )
RPTTF amount should tie to the ROPS 20-21 total
distribution from the County Auditor-Controller
270,205 728,993
3 Expenditures for ROPS 20-21 Enforceable Obligations
(Actual 06130/21)
357,527 728,993
4 Retention of Available Gash Balance (Actua! 06/30/21) RPTTF amount retained should only include the amounts
distributed as reserve for future period(s)
5 ROPS 20-21 RPTTF Prior Period Adjustment
RPTTF amount should tie to the Agency's ROPS 20-21 PPA
form submifted to the CAC
No entry required 2,250
6 Ending Actual Available Cash Balance (06130121)
C to F = 11 + Z -3.4), c = 11 + 2-3 -4 -5)
$- $- $- $807,777 $(16)
Redondo Beach
Recognized Obligation Payment Schedule (ROPS 23-241. Notes July 1,2023 through June 30,2024
Item # Notes/Comments
2 4
7 8
I
13 14