R/dt.fd! o Shoals o Nicolls. o Lee o Shah STAFF REPORT TO: HONORABLE MAYOR AND CITY COUNCIL FROM:

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1 STAFF REPORT TO: HOORABLE MAYOR AD CITY COUCIL FROM: GAYLA R. CHAPMA, ADMIISTRATIVE SERVICES DIRECTOR c} SUBJECT: ADOPTIO OF RECOGIZED OBLIGATIO PAYMET SCHEDULE FOR JULY1, 2015 TO DECEMBER 31,2015 (ROPS 1516A) BACKGROUD The Successor Agency to the Grover Beach Improvement Agency pursuant to state law must review and approve a Recognized Obligation Payment Schedule (ROPS) to submit to the Oversight Board and, once approved, send the ROPS to the State twice a year. Each ROPS covers a sixmonth period. The ROPS are designated as A or B. When the ROPS has a designation of A at the end it is from July 1 to December 31 of the year listed. When the ROPS has a designation of B at the end it is from January 1 to June 30. DISCUSSIO The deadline established pursuant to AB 1484 to submit the July 1, 2015 to December 31, 2015 ROPS to the County AuditorController and the State Department of Finance is March 3, The ROPS 14 15B is scheduled for adoption at the Oversight Board regularly scheduled meeting on February 23, The ROPS 1516A will be used to calculate the distribution of Property Tax to the Successor Agency in June of ALTERATIVES The City Council, sitting as the Successor Agency, has the following alternatives: 1. Adopt the Resolution approving the draft Recognized Obligation Payment Schedule, or 2. Do not adopt the Resolution approving the draft Recognized Obligation Payment Schedule and provide alternate direction to staff. RECOMMEDATIO Staff recommends the City Council, sitting as the Successor Agency to the dissolved Grover Beach Improvement Agency, adopt the Resolution approving the Recognized Obligation Payment Schedule (ROPS) and authorize the City Manager to present the ROPS to the Oversight Board for its consideration and approval. APPROVED FOR FORWARDIG R/dt.fd! CITY MAAGER Meeting Date: February 17, 2015 Please Review for Possibility of a Potential Conflict of Interest: ~one Identified by Staff o Bright o Shoals o icolls o Lee o Shah 9 Agenda Item o.

2 Staff Report: Adoption of Recognized Obligation Payment Schedule February 17, 2015 Page2 FISCAL IMPACT Adoption of the Resolution will allow the Successor Agency to pay the obligations listed on the ROPS. If the ROPS is not received by the Department of Finance March 3, 2015, then the Successor Agency is subject to a 10,000 per day fine per Health and Safety Code Section 34177(m)(2). PUBLIC OTIFICATIO The agenda was posted in accordance with the Brown Act. The agenda and staff report were sent to the County Administrative Officer, County Auditor Controller, and the Department of Finance. ATTACHMETS 1. ROPS 1516A

3 Attachment 1 RESOLUTIO O. SA15 A RESOLUTIO OF THE SUCCESSOR AGECY TO THE DISSOLVED GROVER BEACH IMPROVEMET AGECY APPROVIG AD ADOPTIG A DRAFT OF THE RECOGIZED OBLIGATIO PAYMET SCHEDULE (ROPS) PURSUAT TO HEALTH AD SAFETY CODE SECTIO 34177(1) WHEREAS, consistent with Health and Safety Code Section 34173(d), the City of Grover Beach elected to become the Successor Agency to the dissolved Grover Beach. Improvement Agency; and WHEREAS, Assembly Bill1484, Chaptered on June 27, 2012 requires that Successor Agencies to former Redevelopment Agencies review, approve and forward Recognized Obligation Payment Schedules (ROPS) to the Oversight Boards in order to have Oversight Board's approval of the ROPS prior to February 23, 2015 for submission to the County Auditor Controller and to the State Department of Finance by no later than March 3, OW, THEREFORE, BE IT RESOLVED by the City of Grover Beach City Council, acting as Successor Agency to the dissolved Grover Beach Improvement Agency: THAT the Recognized Enforceable Obligation Payment Schedule for July 1, 2015 to December 31, 2015 is adopted in substantially the form attached to this Resolution as Exhibit A; and THAT the City Manager is hereby directed and authorized to take any action necessary to carry out the purpose of this Resolution and to ensure compliance with the provisions of the Health and Safety Code including, but not limited to, submittal of the ROPS to the Oversight Board for approval and the County AuditorController and to the State Department of Finance once approved by the Oversight Board. On motion by Council Member, seconded by Council Member, and on the following rollcall vote, to wit: AYES: OES: ABSET: ABSTAI: Council Members Council Members Council Members Council Members the foregoing Resolution was PASSED, APPROVED, and ADOPTED at a Regular meeting of the City Council of the City of Grover Beach, California this 17th day of February, Attest: JOHP DOA L. McMAHO, CITY CLERK

4 Recognized Obligation Payment Schedule (ROPS 1516A) Summary Filed for the July 1, 2015 through December 31, 2015 Period ame of Successor Agency: Grover Beach ame of County: San Luis Obispo Current Period Requested Funding for Outstanding Debt or Obligation Enforceable Obligations Funded with onredevelopment Property Tax Trust Fund (RPTTF) Funding A Sources (B+C+D): B Bond Proceeds Funding (ROPS Detail) SixMonth Total C Reserve Balance Funding (ROPS Detail) D Other Funding (ROPS Detail) E Enforceable Obligations Funded with RPTTF Funding (F+G): F G onadministrative Costs (ROPS Detail) Administrative Costs (ROPS Detail) H Current Period Enforceable Obligations (A+E): 658,319 20,000 Successor Agency SelfReported Prior Period Adjustment to Current Period RPTTF Requested Funding Enforceable Obligations funded with RPTIF (E): J Less Prior Period Adjustment (Report of Prior Period Adjustments ColumnS) K Adjusted Current Period RPTTF Requested Funding (1J) (37,009) 641,310 County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding L Enforceable Obligations funded with RPTTF (E): M Less Prior Period Adjustment (Report of Prior Period Adjustments Column AA) Adjusted Current Period RPTTF Requested Funding (lm) 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. Is/ ame Title Signature Date m >< :::T c;: ;:::;: )>

5 ~ Recognized Obligation Payment Schedule (ROPS 1516A) 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 0 p Contract/Agreement Contract/Agreement Total Outstanding Funding Source ~ Tax Trust Fund (onrpttf) RPTTF Item# Project ame I Debt Obligation Obligation Type Execution Date Termination Date Payee :Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds ~ Admin SixMonth Total 7,692, , Series 2005 Tax Allocation Bonds I Bonds Issued On or 1/!.U.t!.U.Ul 8/1/2035 I Union Bank of California Bonds issued to fund la One 5,987, ,256 2 Water Fund Loan City/County Loans 6/6/ /2029 Grover Beach Water Fund Loan for Agency Startup Costs la One 906,547 On or Before 6/27/11 3 Wastewater Fund Loan Loans 6/6/2011 6/30/2023 I Grover Beach Wastewater Loa1. for Agency costs for W. Grand la One 315,000 On or Before 6/27/11 I Fund Avenue Project 4 General Fund Loan City/County Loans 6/6/ /30/2023 Grover Beach General Loan for Agency Startup Costs la Two 463, , ,063 On or Before 6/27/11 Fund 5 SERAF SERAF/ERAF 2/1 6/2010 6/30/2029 Low & Mod Housing Fund I Loan from Low & Moderate Housing la One ~ ~... ~. '~ (i 16/!m029 E. _ ,.J 'i' IVIlYt~~ " ~!f ~... _...,.4 I Fund ~111~: Jtrtfl~**..?t,~~'~'*~ ~~~~*; : IFarroll Road... _,.. IVII rvemon..;;;... ~.....ow. and la ~.;~.. ' '" ik'*,z!irf0%f 'uctl.re g;j;f~!ffi.jiih 4 '. Ci "''... " "''" ;tl@i!p,,j!jfi., : ill ~ if v 11!.,,.;;,.. ;: h.u ~ 8 Employee Payroll and Benefits Admin Costs 7/1/2013 6/30/2029 Various Employees and Payroll and Benefits for Employees as la One Housing!\ Vendors noted in the Successor Agency Budget l*.,,, 0w "'',. ~ 9 Employee Payroll and Benefits Admin Costs 7/1/2013 6/30/2029 Various Employees and Payroll and Benefits for Employees as Admin 10,000 10,000 10,000 Vendors noted in the Successor Agency Budget. 10 Supplies and Services Admin Costs 7/1/2013 6/30/2029 Various Vendors Supplies and Services as necessary to Admin 10,000 10,000 10,000 administer oversight board objectives as noted in the Successor Agency Budget. Including Legal Costs and settlement aslisted on the notes page. '""' ' \

6 Recognized Obligation Payment Schedule (ROPS 1516A) Report of Cash Balances (Report Amounts in Whole Dollars) Pursuant to Health and Safety Code section (1), 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 Balance Agenc~ Tips Sheet. pdf. A B c D E F G H I Fund Sources Bond Proceeds Reserve Balance Other RPTTF Prior ROPS Prior ROPS period balances RPTTF Bonds Issued Bonds Issued and DDR RPTTF distributed as Rent, onad min on or before on or after balances reserve for future Grants, and Cash Balance Information by ROPS Period 12/31/10 01/01/11 retained period(s) Interest, Etc. Admin Comments ROPS 1415A 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 1415A distribution from the County AuditorController during June Expenditures for ROPS 1415A 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 (Actua112/31/14) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 5 ROPS 1415A RPTTF Prior Period Adjustment RPTTF amount should tie to the selfreported ROPS 1415A PPA in the Report of PPA, Column S o entry required 3,190 79, ,727 3, ,646 6 Ending Actual Available Cash Balance C to G = ( ), H = ( ) (139,153) ROPS 1415B 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) 37,009 (102,144) 8 Revenue/Income (Estimate 06/30/15) RPTTF amounts should tie to the ROPS 1415B distribution from the County AuditorController during January ,441 9 Expenditures for ROPS 1415B Enforceable Obligations (Estimate 06/30/15) 10 Retention of Available Cash Balance (Estimate 06/30/15) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 285,513 Bond Pmt Due August 1, Ending Estimated Available Cash Balance ( ) 15,784

7 Recognized Obllgolllon Payment Schodule(ROPS 15111A) Report of Prior Period Adjuotmenta Reported for the ROPS 1415A (July 1, 2014 through December 31, 2014) Period Pursuanl to Health and Safety Code (HSC) section (a) (Report Amounls in v.t>ole Dollars) ROPS 1415A Successor Agency {SA) Sellreported Prior Period Adjuotmenta (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 1415A (July through December 2014) period. The amount of Redevelopment Property Tax Trust Fund (RPTTF) approved for the ROPS 1516A (July through December 2015) period will be offset by the SA's sellreported ROPS 1415A prior period adjustment. HSC Section (a) also specifies that the prior period adjustments selfreported by SAs are subject to audit by the countv auditorcontroller ICACl and the State Controller. Pn>joc<amo / OobtObllgotlon Autho<tzod Series2005Tax WaterFI.I'1dloen 3W~erFLnt loon 4 I GenreraiFI.I'1d oen 5 I SERAF e Fom>IRood fhouolnap!oloct 7 F""""Rood ~ 8 EmployesPeyrol and Benefits g E~eePayrol end Benefb 10 Suppiooond onrptif EJU>endlturss R...,,.Ba.. nce Actual Authorlzod 3,1110 3,100 3, ,541 3,1QO..,,.. Avalloblo RPTTF (ROPS 1415A diatrwed + al other et LMMr of available n of Authortud I (tfkiale.. thanl, thodl... RPTIFEXP8ndltu,.. Available RPTTF (ROPS 1415A diltributed+alother etl...,of lluthorized, the evaieb6euof Authortnd / 07/1/14) Actual uro) 07/1/14} AvaUeble Is s 211, ,85o s.0,000.0,000.0, (tftobllactuat ellomidetotlll Hoi SA onadmln 11nd Admin PPA tamountumdto Orr..t ROPS 1~18A Roq.od RPTTF) toui dtf'fwence.. et Oln.r.nc.....,, (M+R) ,008 37,0011 ROPS 141SAC; PPA: Tobe~bytheCAC upon aubmiltaloflhe ROPS 1516Abythe SAto F_,.,.andthe CAC.,_thai CACs will..i totheir own,.,.,.,._at the h item level pursuant to the manner in which they.,.,._the PPA. A*> nolo that the Admin ornoun1s do not..1 to bs liidd at the h item lellel and may bs am.r.d a liumdsum. CAC w RPTIF Expendltus CAC s oicacon,_u_to """,.. IV'TTI') Of!Mt1J.1U. CAC Comments

8 Item# otes/comments 5 Paid 121,285 on 7/1/2014 and 106,283 on 1/1/2015. SERAF Paid in Full Recognized Obligation Payment Schedule (ROPS 1516A) otes July 1, 2015 through December 30, 2015