AGENDA CITY OF CITRUS HEIGHTS SUCCESSOR AGENCY FOR THE COMMUNITY REDEVELOPMENT AGENCY

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1 Sue Frost, Chair Jeannie Bruins, Vice Chair Steve Miller, Board Member Jeff Slowey, Board Member Mel Turner, Board Member AGENDA CITY OF CITRUS HEIGHTS SUCCESSOR AGENCY FOR THE COMMUNITY REDEVELOPMENT AGENCY Regular Meeting of Thursday, February 12, 2015 City Hall Council Chambers 7117 Greenback Lane, Citrus Heights, CA Regular Meeting 7:00 p.m. PLEASE NOTE: The Agency may take up any agenda item at any time, regardless of the order listed. Action may be taken on any item on the agenda. Speaker Identification Sheets are provided on the table inside the Council Chambers. If you wish to address the Agency during the meeting, please complete a Speaker Identification Sheet and give it to the City Clerk/Agency Secretary. So that everyone who wishes may have an opportunity to speak, there is a five-minute maximum time limit when addressing the Council. Audio/Visual presentation material must be provided to the City Clerk s Office at least 48 hours prior to the meeting. Any writings or documents provided to a majority of the Agency regarding any item on this agenda will be made available for public inspection at City Hall located at 6237 Fountain Square Drive, Citrus Heights during normal business hours. subscriptions of the agenda are available online by signing up with the City s Notify Me service. Agency meetings are televised live on Metro Cable 14, the government affairs channel on the Comcast and SureWest Cable Systems and replayed on the following Monday at 9:00 a.m. Meetings are also webcast live at The Agenda for this meeting of the Agency was posted in the following listed sites before the close of business at 5:00 p.m. on the Friday preceding the meeting. 1. City of Citrus Heights, 6237 Fountain Square Drive, Citrus Heights, CA 2. Rusch Park Community Center, 7801 Auburn Boulevard, Citrus Heights, CA 3. Sacramento County Library, Sylvan Oaks Branch, 6700 Auburn Blvd., Citrus Heights, CA If you need a disability-related modification or accommodation, including auxiliary aids or services, to participate in this meeting, please contact the City Clerk s Office , 6237 Fountain Square Drive, at least 48 hours prior to the meeting. TDD (hearing impaired only) February 6, 2015 Amy Van, City Clerk/Agency Secretary Printed on Recycled Paper Agenda Packet Page 1

2 Citrus Heights Successor Agency for the Community Redevelopment Agency Thursday, February 12, 2015 Please turn off all cellular phones and pagers while the City Council meeting is in session. CALL REGULAR MEETING TO ORDER REGULAR MEETING 7:00 PM 1. Roll Call: Board Members Miller, Slowey, Turner, Bruins, Frost PUBLIC COMMENT Under Government Code Section , members of the audience may address the Agency on any item of interest to the public and within the Agency s purview, or on any Agenda Item before or during the Agency s consideration of the Item. If you wish to address the Agency during the meeting, please fill out a Speaker Identification Sheet and give it to the City Clerk/Agency Secretary. When you are called upon to speak, step forward to the podium and state your name for the record. Normally, speakers are limited to five minutes each with 30 minutes being allowed for all comments. Any public comments beyond the initial 30 minutes may be heard at the conclusion of the agenda. The Chair has the discretion to lengthen or shorten the allotted times. CONSENT CALENDAR It is recommended that all consent items be acted on simultaneously unless separate discussion and/or action is requested by a Board Member. 2. SUBJECT: Approval of Minutes RECOMMENDATION: Approve the Minutes of the Regular Meeting of January 22, SUBJECT: Approval of Fiscal Year Successor Agency Administrative Budget RECOMMENDATION: Adopt Resolution No S A Resolution of the Successor Agency to the Community Redevelopment Agency of the City of Citrus Heights Approving the Fiscal Year Successor Agency Administrative Budget. 4. SUBJECT: Approval and Adoption of Recognized Obligation Payment Schedule for the Period of July 1 through December 31, 2015 (ROPS 15-16A) RECOMMENDATION: Adopt Resolution No S A Resolution of the Successor Agency to the Community Redevelopment Agency of the City of Citrus Heights Approving and Adopting the Recognized Obligation Payment Schedule for the Period of July 1 through December 31, ADJOURNMENT Page 2 of 2 Printed on Recycled Paper Agenda Packet Page 2

3 CITY OF CITRUS HEIGHTS ITEM 2 SUCCESSOR AGENCY FOR THE COMMUNITY REDEVELOPMENT AGENCY MINUTES Regular Meeting of Thursday, January 22, 2015 City Hall Council Chambers 7117 Greenback Lane, Citrus Heights, CA CALL REGULAR MEETING TO ORDER The regular Successor Agency meeting was called to order at 8:53 p.m. by Chair Frost. 1. Roll Call: Board Members present: Miller, Slowey, Turner, Bruins and Frost Board Members absent: None Staff present: Tingle, Van, Ziegler and department directors. PUBLIC COMMENT None REGULAR CALENDAR 2. SUBJECT: Approval of Minutes RECOMMENDATION: Approve the Minutes of the Regular Meeting of September 11, ACTION: On a motion by Board Member Slowey, seconded by Vice Chair Bruins, the Board approved the Minutes of the Regular Meeting of September 11, AYES: Miller, Slowey, Bruins and Frost NOES: None ABSENT: None ABSTAIN: Turner 3. SUBJECT: Annual Financial Audit Successor Agency to the Community Redevelopment Agency of the City of Citrus Heights RECOMMENDATION: Accept and file the Combining Statement of Net Assets and Changes in Fiduciary Net Assets for the fiscal year ended June 30, 2014 for the Successor Agency to the Community Redevelopment Agency of the City of Citrus Heights. ACTION: On a motion by Board Member Slowey, seconded by Board Member Miller, the Board accepted and filed the Combining Statement of Net Assets and Changes in Fiduciary Net Assets for the fiscal year ended June 30, 2014 for the Successor Agency to the Community Redevelopment Agency of the City of Citrus Heights. AYES: Miller, Slowey, Turner, Bruins and Frost NOES: None ABSENT: None Agenda Packet Page 3

4 Citrus Heights Successor Agency Minutes Regular Meeting of January 22, 2015 ADJOURNMENT Chair Frost adjourned the regular meeting at 8:55 p.m. Respectfully submitted, Amy Van, City Clerk/Agency Secretary Page 2 Agenda Packet Page 4

5 ITEM 3 February 12, 2015 CITY OF CITRUS HEIGHTS Memorandum Approved and Forwarded to Successor Agency Board Fin. Atty. Signatures on File Henry Tingle, Executive Director TO: FROM: SUBJECT: Successor Agency Board Members Henry Tingle, Executive Director Rhonda Sherman, Community & Economic Development Director Devon Rodriguez, Development Specialist Approval of Fiscal Year Successor Agency Administrative Budget Summary and Recommendation As the Successor Agency to the Community Redevelopment Agency of the City of Citrus Heights the Agency receives a minimum of $250,000 annually for administration costs associated with the wind down of the former Redevelopment Agency. The Successor Agency must prepare an administrative budget for Oversight Board approval to receive the funds. Staff recommends the Successor Agency to the Community Redevelopment Agency of the City of Citrus Heights approve the attached Resolution S, approving the Fiscal Year Successor Agency Administrative Budget. Fiscal Impact The Citrus Heights Successor Agency is eligible for $250,000 annually for administration (or such lesser amount as agreed to by the Successor Agency) and is subject to approval by the Oversight Board. The Department of Finance (DOF) is currently withholding the Agency s RPTTF until $769,127, the amount DOF determined was due under the Due Diligence Review process, has been received. With the approval of the Oversight Board, the Successor Agency will use its unencumbered cash to pay enforceable obligations, including the Successor Agency s administrative costs. The Successor Agency has a sufficient amount of unencumbered cash to cover this administrative expense for Fiscal Year (FY) Background and Analysis On February 1, 2012, all redevelopment agencies were dissolved and successor agencies assumed the responsibilities of winding down the agencies affairs. The City of Citrus Heights assumed the role of Successor Agency for the Community Redevelopment Agency of the City of Citrus Heights. Assembly Bill (AB) x1 26 allows an allocation of funds for Successor Agency Agenda Packet Page 5

6 Subject: Approval of Fiscal Year Successor Agency Administrative Budget Date: February 12, 2015 Page 2 of 2 administrative costs. Per ABx1 26, the Successor Agency s annual administrative costs allowance is three percent of the property tax allocated to the Successor Agency each succeeding fiscal year provided however that the annual amount shall not be less than $250,000 for any fiscal year, or such lesser amount as agreed to by the Successor Agency. The Successor Agency to the Community Redevelopment Agency of Citrus Heights is expected to receive $250,000 for administration costs. Based on recent direction from the DOF, if other sources of funds are available for administration, those funds must be used to offset the $250,000 cap or toward other enforceable obligations. Prior to dissolution, the Redevelopment Agency received lease revenue for 6657 Auburn. Those funds are now received by the Successor Agency and must be used to pay enforceable obligations, which could include the Successor Agency s administration cost. The annual lease revenue for 6657 Auburn is $16,529. The use of these funds will be stated on each ROPS and then offset the amount due from the Redevelopment Property Tax Trust Fund (RPTTF). For FY , the Successor Agency has budgeted $237,491 for personnel expenditures and $12,509 for operating expenditures including, legal services and professional services, for a total of $250,000. The administration budget is included as Attachment 2. Administrative costs include salaries for Successor Agency staff carrying out the necessary actions to wind down the Agency s affairs such as, preparing Recognized Obligation Payment Schedules (ROPS) and the administrative budget; making scheduled payments per the ROPS; responding to audit requests and correspondence with the Department of Finance; scheduling and carrying out Oversight Board meetings; and operational costs associated with these actions, to name a few. Upon adoption by the Successor Agency, the administrative budget is subject to review and approval by the Oversight Board. The Oversight Board will review the FY administrative budget for approval on February 23, Preparation of the administrative budget will be completed annually by the Successor Agency until all matters of the former Redevelopment Agency are resolved. Conclusion Upon dissolution of the Community Redevelopment Agency of the City of Citrus Heights the City of Citrus Heights assumed the role of Successor Agency. The Successor Agency must prepare an annual administrative budget. Staff recommends the Successor Agency to the Community Redevelopment Agency of the City of Citrus Heights approve the FY Successor Agency Administrative Budget. Attachments: (1) Resolution S (2) Administrative Budget FY Agenda Packet Page 6

7 RESOLUTION NO S RESOLUTION OF THE SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF CITRUS HEIGHTS APPROVING THE FISCAL YEAR SUCCESSOR AGENCY ADMINISTRATIVE BUDGET WHEREAS, pursuant to the California Community Redevelopment Law (Health and Safety Code Section et seq.; the "Redevelopment Law"), the City Council (the "City Council") of the City of Citrus Heights (the "City") adopted in accordance with the Redevelopment Law, Ordinance No on December 10, 1997 adopting the Redevelopment Plan for the Citrus Heights Commercial Corridor Redevelopment Project Area (the "Redevelopment Plan"), as amended from time to time; and WHEREAS, the California state legislature enacted Assembly Bill x1 26 (the "Dissolution Act") to dissolve redevelopment agencies formed under the Community Redevelopment Law (Health and Safety Code Section et seq.); and WHEREAS, on January 12, 2012 and pursuant to Health and Safety Code Section 34173, the City Council of the City of Citrus Heights (the "City Council") declared that the City of Citrus Heights, a municipal corporation (the "City"), would act as successor agency (the "Successor Agency") for the dissolved Community Redevelopment Agency of the City of Citrus Heights (the "Former RDA") effective February 1, 2012; and WHEREAS, on February 1, 2012, the Former RDA was dissolved pursuant to Health and Safety Code Section 34172; and WHEREAS, AB 1484, which amends AB x1 26, makes clear that the Successor Agency is a separate legal entity; and WHEREAS, the Successor Agency is responsible for implementing Assembly Bill x1 26, the Dissolution Act ; and WHEREAS, the Dissolution Act provides for the appointment of an oversight board (the "Oversight Board") with specific duties to approve certain Successor Agency actions pursuant to Health and Safety Code Section and to direct the Successor Agency in certain other actions pursuant to Health and Safety Code Section 34181; and WHEREAS, Health and Safety Code Section 34177(j) requires the Successor Agency to prepare an administrative budget annually; and WHEREAS, the administrative budget must be approved by the Oversight Board pursuant to Health and Safety Code Sections 34177(j); and WHEREAS, the Successor Agency to the Community Redevelopment Agency of the City of Citrus Heights, has reviewed and duly considered the Staff Report, which includes the Agenda Packet Page 7

8 proposed administrative budget, and documents and other written evidence presented at the meeting. NOW, THEREFORE, BE IT RESOLVED that the Successor Agency to the Community Redevelopment Agency of the City of Citrus Heights, hereby approves the administrative budget for FY BE IT FURTHER RESOLVED, that this Resolution shall take immediate effect upon adoption. The above and foregoing resolution was duly and regularly passed and adopted at a meeting by the Successor Agency Board on the 12 th day of February, 2015 by the following vote: AYES: NOES: ABSENT: ABSTAIN: Sue Frost, Chair ATTEST: Amy Van, Agency Secretary Agenda Packet Page 8

9 Agenda Packet Page 9

10 ITEM 4 February 12, 2015 CITY OF CITRUS HEIGHTS Memorandum Approved and Forwarded to Successor Agency Board Fin. Atty. Signatures on File Henry Tingle, Executive Director TO: FROM: SUBJECT: Successor Agency Board Members Henry Tingle, Executive Director Rhonda Sherman, Community & Economic Development Director Devon Rodriguez, Development Specialist Approval and Adoption of Recognized Obligation Payment Schedule for the Period of July 1 through December 31, 2015 (ROPS 15-16A) Summary and Recommendation The Recognized Obligation Payment Schedule (ROPS) is required to be prepared in six-month periods. The ROPS for the period of July 1 through December 31, 2015 (ROPS 15-16A) must be approved by the Successor Agency Board and Oversight Board and remitted to the Department of Finance (DOF) by March 3, 2015 or face penalties. The ROPS outlines the approved payments of any debts or obligations of the former Redevelopment Agency. Staff recommends the Successor Agency to the Community Redevelopment Agency of the City of Citrus Heights approve the attached Resolution S, approving and adopting the Recognized Obligation Payment Schedule for the period of July 1 through December 31, 2015 (ROPS 15-16A); and authorizing and directing the Executive Director or his designee to make such changes as are necessary after approval of the ROPS by the Oversight Board. Fiscal Impact On February 1, 2012, all redevelopment agencies were dissolved and successor agencies assumed the responsibilities of winding down the agencies affairs and paying off debts. The ROPS outlines the Citrus Heights Redevelopment Agency s obligations, including debts and contracts that must be paid, in six-month periods. The Successor Agency will be responsible for paying off the enforceable obligations listed on the ROPS with funds remitted to the Successor Agency from the Redevelopment Property Tax Trust Fund (RPTTF), managed by the County Auditor-Controller. The Successor Agency is considered a separate entity from the City and the City is not liable for the obligations of the Successor Agency. Beginning June 1, 2014 with the Agency s ROPS 14-15A RPTTF payment, DOF instructed the County Auditor-Controller to withhold the Successor Agency s RPTTF payments because the Successor Agency had not remitted the $769,127 DOF determined was being held by the Agency Agenda Packet Page 10

11 Subject: Approval and Adoption of Recognized Obligation Payment Schedule for the Period of July 1 through December 31, 2015 (ROPS 15-16A) Date: February 12, 2015 Page 2 of 3 and was due under the Due Diligence Review (DDR) process. The Successor Agency continues to dispute the DOF s determination of the amounts due under the DDR and has appealed the Superior Court determination on this matter. It is expected that the DOF will once again withhold the Agency s RPTTF and the Successor Agency will not receive the funds it is requesting on ROPS 15-16A. Per DOF, if approved by the Oversight Board, the Successor Agency may use its unencumbered cash identified through the DDR process to make payments for enforceable obligations on an approved ROPS since the Agency s RPTTF is being withheld. On February 23, 2015 the Successor Agency will be requesting Oversight Board approval to use this unencumbered cash for enforceable obligations listed on ROPS 14-15B, 15-16A and future ROPS. The Agency currently has a sufficient amount of unencumbered cash to cover the amount that has been withheld from ROPS 14-15B and the amount expected to be withheld for ROPS 15-16A. Background and Analysis Per ABx1 26, the Dissolution Act, the Successor Agency is required to adopt a ROPS for every six-month period. The ROPS outlines the Successor Agency s debts and enforceable obligations that must be paid in order to wind down the agency. All ROPSs must be approved by the Successor Agency s Oversight Board and then the DOF before distribution from the RPTTF can occur. ROPS 15-16A is due by March 3, 2015 to DOF or the Successor Agency will start to incur penalties of $10,000 or more. DOF did not disallow any items on the Successor Agency s previous ROPS, ROPS 14-15B. However, as has been mentioned in previous reports, the Successor Agency has a deficit that has not been resolved with DOF. The Agency requested a Meet & Confer for ROPS 14-15B to finally resolve this negative balance. Successor Agency staff has done significant research to determine how the deficit occurred. The root of the problem dates back to the date of dissolution. Per the legislation, no RPTTF payment was made for ROPS I; agencies were expected to use the January 2012 tax-increment payment to pay their ROPS I obligations and then any surplus funds were captured in the True-Up implemented by AB Citrus Heights Successor Agency did not have sufficient cash to pay all its expenses prior to dissolution without using the January 2012 tax-increment payment, therefore causing a deficit that continues to be carried forward. After presenting the issue to DOF the Agency received its Meet and Confer determination on December 17, The letter concluded that the Agency would be offset by $68,055, the amount of the Agency deficit. If the Agency s fund deficit was due to payments made to third-parties the Successor Agency would be able to recover these pre-dissolution costs through the ROPS process, but that is not the case for Citrus Heights. Therefore, the Successor Agency cannot expect to receive any additional funds from RPTTF in order to resolve this deficit. It must be resolved by using the Successor Agency s unencumbered cash. ROPS 15-16A continues to report a negative balance in the Successor Agency funds, but if the Oversight Board approves the use of unencumbered cash, staff expects the deficit issue to be resolved. Agenda Packet Page 11

12 Subject: Approval and Adoption of Recognized Obligation Payment Schedule for the Period of July 1 through December 31, 2015 (ROPS 15-16A) Date: February 12, 2015 Page 3 of 3 The attached ROPS 15-16A (Attachment 2) covers the period of July 1 through December 31, The Successor Agency is requesting payments for the following enforceable obligations, interest payment on the start-up loan; the remaining loan principal from ROPS 13-14B that was not paid due to insufficient cash and successor agency administration. Upon adoption, the ROPS is subject to approval by the Oversight Board. After the ROPS is approved by the Oversight Board it will be posted on the Successor Agency web page and forwarded to the DOF, County Auditor-Controller and State Controller. Conclusion ROPS 15-16A must be approved by the Successor Agency Board and the Oversight Board and remitted to the DOF by March 3, 2015 to avoid penalties. Staff recommends the Successor Agency to the Community Redevelopment Agency of the City of Citrus Heights approve and adopt the Recognized Obligation Payment Schedule for the period of July 1 through December 31, 2015 (ROPS 15-16A); and authorize and direct the Executive Director or his designee to make such changes as are necessary after approval by the Oversight Board. Attachments: (1) Resolution S (2) Recognized Obligation Payment Schedule for the period July 1 December 31, 2015 (ROPS 15-16A) Agenda Packet Page 12

13 RESOLUTION NO S RESOLUTION OF THE SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF CITRUS HEIGHTS APPROVING AND ADOPTING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD OF JULY 1 THROUGH DECEMBER 31, 2015 WHEREAS, pursuant to the California Community Redevelopment Law (Health and Safety Code Section et seq.; the "Redevelopment Law"), the City Council (the "City Council") of the City of Citrus Heights (the "City") adopted in accordance with the Redevelopment Law, Ordinance No on December 10, 1997 adopting the Redevelopment Plan for the Citrus Heights Commercial Corridor Redevelopment Project Area (the "Redevelopment Plan"), as amended from time to time; and WHEREAS, the California state legislature enacted Assembly Bill x1 26 (the "Dissolution Act") to dissolve redevelopment agencies formed under the Community Redevelopment Law (Health and Safety Code Section et seq.); and WHEREAS, on January 12, 2012 and pursuant to Health and Safety Code Section 34173, the City Council of the City of Citrus Heights (the "City Council") declared that the City of Citrus Heights, a municipal corporation (the "City"), would act as successor agency (the "Successor Agency") for the dissolved Community Redevelopment Agency of the City of Citrus Heights (the "Former RDA") effective February 1, 2012; and WHEREAS, on February 1, 2012, the Former RDA was dissolved pursuant to Health and Safety Code Section 34172; and WHEREAS, the Successor Agency is responsible for implementing Assembly Bill x1 26, the Dissolution Act ; and WHEREAS, the Dissolution Act provides for the appointment of an oversight board (the "Oversight Board") with specific duties to approve certain Successor Agency actions pursuant to Health and Safety Code Section and to direct the Successor Agency in certain other actions pursuant to Health and Safety Code Section 34181; and WHEREAS, Health and Safety Code Section 34177(l)(2)(A) requires the Successor Agency to prepare a draft recognized obligation payment schedule (the "ROPS") and make associated notifications and distributions; and WHEREAS, the City Council acting as the Governing Board of the Successor Agency to the Community Redevelopment Agency of the City of Citrus Heights adopted its first ROPS for the period January 1 through June 30, 2012 on February 23, 2012 and amended it on April 14, 2012; and WHEREAS, a ROPS must be prepared for each six-month fiscal period; and Agenda Packet Page 13

14 WHEREAS, Health and Safety Code Section 34177(j) requires the Successor Agency to prepare an administrative budget (the "Administrative Budget"); and WHEREAS, the ROPS and the Administrative Budget must be approved by the Oversight Board pursuant to Health and Safety Code Sections 34177(l)(2)(B) and 34177(j), respectively; and WHEREAS, per AB 1484 adopted and effective on June 27, 2012, Oversight Board approved ROPS must be submitted to the DOF no fewer than 90 days prior to the semiannual RPTTF property fund distribution (or October 4 for the January 2 distribution and March 3 for the June 1 distribution); and WHEREAS, the Department of Finance has drafted and revised a new template for the ROPS period July 1 through December 31, 2015, referred to as the ROPS 15-16A. Utilizing this form will be required by the Department of Finance in order to accept the ROPS; and WHEREAS, the Successor Agency has reviewed and duly considered the Staff Report, the proposed Recognized Obligation Payment Schedule, and documents and other written evidence presented at the meeting. NOW, THEREFORE, BE IT RESOLVED by the Successor Agency to the Community Redevelopment Agency of the City of Citrus Heights, that the assets, obligations, liabilities, and activities of the Successor Agency are and shall remain separate from the assets, obligations, liabilities and activities of the City, and that all costs of, liabilities of, and claims against the Successor Agency and/or the Oversight Board shall be solely the costs and liabilities of the Successor Agency and/or the Oversight Board and shall not be costs of, liabilities of, and/or claims against the City. BE IT FURTHER RESOLVED that the, Successor Agency to the Community Redevelopment Agency of the City of Citrus Heights hereby approves the Recognized Obligation Payment Schedule for the period July 1 through December 31, BE IT FURTHER RESOLVED, that the Successor Agency to the Community Redevelopment Agency of the City of Citrus Heights, hereby authorizes and directs the Executive Director or the Executive Director s designee, acting on behalf of the Successor Agency, to modify the ROPS as necessary to conform to the Oversight Board s approval and to make such other administrative changes as necessary to ensure timely submission of a completed ROPS. BE IT FURTHER RESOLVED that the Successor Agency to the Community Redevelopment Agency of the City of Citrus Heights, hereby authorizes and directs the City Manager or the City Manager's designee, acting on behalf of the Successor Agency, to file, post, mail or otherwise deliver via electronic mail, internet posting, and/or hardcopy, all notices and transmittals necessary or convenient in connection with the adoption of the ROPS and Administrative Budget, and other actions taken pursuant to this Resolution. Agenda Packet Page 14

15 BE IT FURTHER RESOLVED that nothing in this Resolution shall abrogate, waive, impair or in any other manner affect the right or ability of the Successor Agency to initiate and prosecute any litigation with respect to any agreement or other arrangement between the City and the Former RDA, including, without limitation, any litigation contesting the purported invalidity of such agreement or arrangement pursuant to the Dissolution Act. BE IT FURTHER RESOLVED, that this Resolution shall take immediate effect upon adoption. The above and foregoing resolution was duly and regularly passed and adopted at a meeting by the Citrus Heights Successor Agency on the 12 th day of February, 2015 by the following vote: AYES: NOES: ABSENT: ABSTAIN: ATTEST: Sue Frost, Chair Amy Van, Agency Secretary Agenda Packet Page 15

16 Recognized Obligation Payment Schedule (ROPS 15-16A) - Summary Filed for the July 1, 2015 through December 31, 2015 Period Name of Successor Agency: Name of County: Citrus Heights Sacramento Current Period Requested Funding for Outstanding Debt or Obligation Six-Month Total Enforceable Obligations Funded with Non-Redevelopment Property Tax Trust Fund (RPTTF) Funding A Sources (B+C+D): $ 8,265 B Bond Proceeds Funding (ROPS Detail) - C Reserve Balance Funding (ROPS Detail) - D Other Funding (ROPS Detail) 8,265 E Enforceable Obligations Funded with RPTTF Funding (F+G): $ 447,660 F Non-Administrative Costs (ROPS Detail) 330,925 G Administrative Costs (ROPS Detail) 116,735 H Current Period Enforceable Obligations (A+E): $ 455,925 Successor Agency Self-Reported Prior Period Adjustment to Current Period RPTTF Requested Funding I Enforceable Obligations funded with RPTTF (E): 447,660 J Less Prior Period Adjustment (Report of Prior Period Adjustments Column S) (12,271) K Adjusted Current Period RPTTF Requested Funding (I-J) $ 435,389 County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding L Enforceable Obligations funded with RPTTF (E): 447,660 M Less Prior Period Adjustment (Report of Prior Period Adjustments Column AA) - N Adjusted Current Period RPTTF Requested Funding (L-M) 447,660 Certification of Oversight Board Chairman: Pursuant to Section (m) 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 agency. /s/ Name Signature Title Date Agenda Packet Page 16

17 Recognized Obligation Payment Schedule (ROPS 15-16A) - ROPS Detail July 1, 2015 through December 31, 2015 (Report Amounts in Whole Dollars) A B C D E F G H I J K L M N O P Funding Source Non-Redevelopment Property Tax Trust Fund (Non-RPTTF) Contract/Agreement Contract/Agreement Total Outstanding Item # Project Name / Debt Obligation Obligation Type Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds Non-Admin Admin Six-Month Total $ 1,422,138 $ - $ - $ 8,265 $ 330,925 $ 116,735 $ 455,925 1 Loan for Redevelopment Agency startup City/County Loans On or Before 6/27/11 9/23/1998 6/1/2023 City of Citrus Heights City loan for Redevelopment Agency startup and operation Project Area 1 1,357,919 N 266,706 $ 266,706 RPTTF 5 Housing fund loan from Nonhousing fund 8 Replacement Housing Plan (See notes) SERAF/ERAF 5/14/2009 5/14/2012 Non-Housing Fund Provide loan for property purchases Project Area 1 N $ - Miscellaneous 2/25/2010 8/9/2029 Various For construction of statutorily obligated affordable housing units on Sayonara Drive. Per the Housing Replacement Plan, 35 units must be replaced Project Area 1 N $ - 9 Successor Agency Administration Budget 11 Public Improvement Grant and Cooperation Agreement 14 Unfunded loan principal (ROPS 13-14B) from Loan for Redevelopment Agency Admin Costs 7/1/2013 6/30/2014 Successor Agency Payroll and administration costs of Successor Agency City/County Loans 1/17/2011 8/9/2029 City of Citrus Heights To carry out the Auburn Boulevard On or Before 6/27/11 Complete Streets Revitalization Project. Authorized by the Oversight Board on May 23, City/County Loans On or Before 6/27/11 9/23/1998 6/1/2023 City of Citrus Heights City loan for Redevelopment Agency startup and operation Project Area 1 N 8, ,735 $ 125,000 Project Area 1 N $ - Project Area 1 64,219 N 64,219 $ 64, N $ - 16 N $ - 17 N $ - 18 N $ - 19 N $ - 20 N $ - 21 N $ - 22 N $ - 23 N $ - 24 N $ - 25 N $ - 26 N $ - 27 N $ - 28 N $ - 29 N $ - 30 N $ - 31 N $ - 32 N $ - 33 N $ - 34 N $ - 35 N $ - 36 N $ - 37 N $ - 38 N $ - 39 N $ - 40 N $ - 41 N $ - 42 N $ - 43 N $ - 44 N $ - 45 N $ - 46 N $ - 47 N $ - 48 N $ - 49 N $ - 50 N $ - 51 N $ - 52 N $ - 53 N $ - 54 N $ - 55 N $ - 56 N $ - 57 N $ - 58 N $ - 59 N $ - 60 N $ - 61 N $ - 62 N $ - 63 N $ - 64 N $ - Agenda Packet Page 17

18 Recognized Obligation Payment Schedule (ROPS 15-16A) - Report of Cash Balances (Report Amounts in Whole Dollars) Pursuant to Health and Safety Code section (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. For tips on how to complete the Report of Cash Balances Form, see A B C D E F G H I Fund Sources Cash Balance Information by ROPS Period Bonds Issued on or before 12/31/10 Bond Proceeds Bonds Issued on or after 01/01/11 Prior ROPS period balances and DDR RPTTF balances retained Reserve Balance Prior ROPS RPTTF distributed as reserve for future period(s) Other RPTTF Rent, Grants, Interest, Etc. Non-Admin and Admin Comments ROPS 14-15A Actuals (07/01/14-12/31/14) 1 Beginning Available Cash Balance (Actual 07/01/14) 2 Revenue/Income (Actual 12/31/14) RPTTF amounts should tie to the ROPS 14-15A distribution from the County Auditor-Controller during June 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 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) 10,940 8, ,735 8, ,464 Book are not closed. We anticipate the actual to be a higher amount. 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 12,271 6 Ending Actual Available Cash Balance C to G = ( ), H = ( ) $ - $ - $ 10,940 ROPS 14-15B Estimate (01/01/15-06/30/15) 7 Beginning Available Cash Balance (Actual 01/01/15) (C, D, E, G = 4 + 6, F = H4 + F4 + F6, and H = 5 + 6) $ - $ - $ 23,211 8 Revenue/Income (Estimate 06/30/15) RPTTF amounts should tie to the ROPS 14-15B distribution from the County Auditor-Controller during January ,265 - $128,680 was withheld 9 Expenditures for ROPS 14-15B Enforceable Obligations (Estimate 06/30/15) 8, , Retention of Available Cash Balance (Estimate 06/30/15) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 11 Ending Estimated Available Cash Balance ( ) $ - $ - $ (173,524) Agenda Packet Page 18

19 Recognized Obligation Payment Schedule (ROPS 15-16A) - Report of Prior Period Adjustments Reported for the ROPS 14-15A (July 1, 2014 through December 31, 2014) Period Pursuant to Health and Safety Code (HSC) section (a) (Report Amounts in Whole Dollars) ROPS 14-15A Successor Agency (SA) Self-reported Prior Period Adjustments (PPA): Pursuant to HSC Section (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 2014) period. The amount of Redevelopment Property Tax Trust 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 (a) also specifies that the prior period adjustments self-reported by SAs are subject to audit by the county auditor-controller (CAC) and the State Controller. ROPS 14-15A CAC PPA: To be completed by the CAC upon submittal of the ROPS 15-16A by the SA to Finance and the CAC. Note that CACs will need to enter their own formulas at the line item level pursuant to the manner in which they calculate the PPA. Also note that the Admin amounts do not need to be listed at the line item level and may be entered as a lump sum. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z AA AB Non-RPTTF Expenditures RPTTF Expenditures RPTTF Expenditures Bond Proceeds Reserve Balance Other Funds Non-Admin Admin Net SA Non-Admin and Admin PPA (Amount Used to Offset ROPS 15-16A Requested RPTTF) Non-Admin CAC Admin CAC Net CAC Non- Admin and Admin PPA (Amount Used to Offset ROPS 15-16A Requested RPTTF) Item # Project Name / Debt Obligation Authorized 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 Difference (If total actual exceeds total authorized, the total difference is zero) Net Difference (M+R) Net Lesser of Authorized / Available Actual Difference Net Lesser of Authorized / Available Actual Difference Net Difference $ - $ 8,155 $ 8,155 $ - $ - $ 116,735 $ 116,735 $ 116,735 $ 104,464 $ 12,271 $ 12,271 $ - $ - $ - 1 Loan for Housing fund loan Affordable Housing Assistance Agreement 8 Replacement Housing Plan (See notes) 9 Successor Agency Administration Budget - - 8,155 8,155 - $ - $ - 116, , ,464 $ - The books are not closed. Our actual expenditures are most likely to be more. See Notes tab 10 Loan between City and Successor Agency for Professional Services per Health and Safety Code Section 34173(h) 11 Public Improvement Grant and Cooperation Agreement SA Comments CAC Comments Agenda Packet Page 19

20 Recognized Obligation Payment Schedule (ROPS 15-16A) - Notes July 1, 2015 through December 30, 2015 Item # Notes/Comments 1 This is the amount of unpaid interest at the LAIF rate that has not been paid on the City start-up loan since For the Successor Agency admin, our books are not yet closed. The expenditure amount is expected to be higher. This will have to be rectified on a future ROPS. 9 Since we are required to report this number now and will be offset by it. How can we rectify this on a future ROPS? Agenda Packet Page 20