Resolution - 2021-117RESOLUTION NO.2021-117
A RESOLUTION OF THE SUCCESSOR AGENCY TO THE FORMER
WEST COVINA REDEVELOPMENT AGENCY APPROVING AND
AUTHORIZING THE TRANSMITTAL OF AN ADMINISTRATIVE
BUDGET AND A RECOGNIZED OBLIGATION PAYMENT SCHEDULE
("ROPS") FOR THE PERIOD OF JULY 1, 2022 THROUGH JUNE 30, 2023
WHEREAS, pursuant to ABX 1 26, enacted on June 28, 2011, and as subsequently
amended by AB 1484, SB 341, and SB 107 ("Dissolution Act'), the Redevelopment Agency to
the City of West Covina was dissolved as of February 1, 2012, and the City of West Covina elected
to serve as the Successor Agency to the former Redevelopment Agency to the City of West Covina;
and
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, has five consolidated oversight boards each encompassing the five
supervisorial districts; and
WHEREAS, Health and Safety Code section 34177(o)(1) requires that the ROPS for the
period from July 1, 2022 to June 30, 2023 be submitted after oversight board approval to the State
of California Department of Finance and the Los Angeles County Auditor -Controller by February
1, 2022; and
WHEREAS, the West Covina City Council, acting as Successor Agency to the former
West Covina Redevelopment Agency, reserves the right to appeal any determination of the State
of California Department of Finance or other entity regarding the propriety of this resolution as
well as any future determinations; and
WHEREAS, the West Covina City Council, acting as Successor Agency to the former
West Covina Redevelopment Agency, intends to comply with the state -mandated obligations
established hereunder; and
WHEREAS, all other legal prerequisites to the adoption of this resolution have occurred.
NOW, THEREFORE, BE IT RESOLVED by the West Covina City Council, acting as
Successor Agency to the former West Covina Redevelopment Agency, as follows:
SECTION 1. The foregoing recitals are incorporated into this Resolution by this
reference, and constitute a material part of this Resolution.
SECTION 2. The Recognized Obligation Payment Schedule ("ROPS") attached hereto
as Exhibit "A" is approved and the Executive Director is authorized to submit the ROPS to the
Oversight Board for approval and transmit the same to the Los Angeles County Auditor -
Controller, the California State Controller and the State of California Department of Finance in
accordance with Health and Safety Code section 34177 subject to all reservations of rights and
contingencies set forth above.
SECTION 3. The Administrative Budget for the Successor Agency for the annual period
of July 1, 2022 — June 30, 2023 attached hereto as Exhibit `B" is approved and the Executive
Director is authorized to transmit the same to the Los Angeles County Auditor -Controller, the
California State Controller and the State of California Department of Finance in accordance with
Health and Safety Code section 34177 subject to all reservations of rights and contingencies set
forth above.
SECTION 4. The Executive Director or designee is authorized to take all actions
necessary to implement this Resolution, including without limitation, the posting of this Resolution
and the Recognized Obligation Payment Schedule on the City's website, and any other reasonable
acts in furtherance of approval of the Recognized Obligation Payment Schedule and
Administrative Budgets.
SECTION 5. The Secretary shall certify as to the passage and adoption of this Resolution,
and it shall thereupon take effect and be in full force.
APPROVED AND ADOPTED at a regularly scheduled meeting held on this 21st day of
December, 2021.
APPROV ST FORM:
37
Tho as P. 6Wdte
Counsel
Dario Castellanos
Chair
ATTEST: <
4LisaAick
I, LISA SHERRICK, Secretary of the Successor Agency to the former West Covina
Redevelopment Agency, do hereby certify that the foregoing Resolution No. 2021-117 was duly
adopted by the West Covina City Council, acting as Successor Agency to the former West Covina
Redevelopment Agency, at a regular meeting thereof held on the 21 st day of December, 2021, by
the following vote:
AYES: Castellanos, Diaz, Tabatabai, Wu
NOES: None
ABSENT: Lopez-Viado
ABSTAIN: None
V
Lisa Sheq ck
Secret
EXHIBIT A
Recognized Obligation Payment Schedule (ROPS 22-23) - Summary
Filed for the July 1, 2022 through June 30, 2023 Period
Successor Agency: West Covina
County: Los Angeles
Current Period Requested Funding for Enforceable
Obligations (ROPS Detail)
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)
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.
22-23A Total
22-23B Total
ROPS 22-23
(July -
(January -
Total
December)
June)
$ 5,052,150
$
$ 5,052,150
5,052,150
5,052,150
$ 11,978,479
$ 2,734,885
$ 14,713,364
11,826,479
2,578,685
14,405,164
152,000
156,200
308,200
$ 17,030,629
$ 2,734,885
$ 19,765,514
Name
Title
/s/
Signature
Date
West Covina
Recognized Obligation Payment Schedule (ROPS 22-23) - ROPS Detail
July 1, 2022 through June 30, 2023
A
B
C
D
E
F
O
H
I
J
K
L M N O P
O
R S I T U V
W
ROPS 22-23A (Jul - Dec)
ROPS 22.230 (Jan -Jun)
Item
Agreement
Agreement
Project
Total
ROTS
22-23A
22-23B
Fund Sources
Fund Sources
*
Project Name
Obligation Type
Execution
Termination
Payee
Description
Area
Outstanding
Retired
22-23 Total
Total
Total
Bond
Reserve
Other
Admin
Bond
Reserve
Other
Admin
Date
Date
Obligation
Proceeds
Balance
Funds
RPTTF
RPTTF
Pmceeds
Balance
Funds
RPTTF
RPTTF
$67.001,781
$19.765,514
$-
$-
$5,052.150
$11.826,479
$152,000
$17,030,629
&
$-
$-
$2,578,685
$156,200
$2,7
3
2006 Leese
Bond
09/19/
06/01/2036
City of
Reimburse City
Merg/
21,015,024
N
$1,432,558
-
-
386,279
$386,279
-
-
-
1,046,279
-
$1,046,279
Revenues
Reimbursement
2006
West
for BLD Debt
Citywide
Bonds
Agreements
Covina
Service
6
SERAF2010
SERAF/ERAF
02/16/
D8f012022
Housing
Repay SERAF
Merged
80,672
N
580,672
80,672
$80,672
-
-
$-
Housing Loan
2010
Successor
to the housing
Agency
fund
7
SERAF 2011
SERAF/ERAF
011181
08/012022
Housing
Repay SERAF
Merged
16.355
N
$16,365
16,355
$16,355
-
$-
Housing Loan
2011
Successor
to the housing
Agency
fund
8
DDA - The
OPA/DDAf
01126/
O6130/2038
Stillwater
Maintenance
Merged
-
Y$-
Lakes
Construction
1987
Investment
for parking
Group
structure
9
CFD Tax
OPA/DDA/
06/2W
09/012022
Fashion
Tax Increment
Merged
-
NIncrement
Construction
1989
Plaza CFD
pledged to CFD
Pledge
10
CBS-CFD
Remediation
101191
10/19/2054
Coastal
CFD
Merged
75,000
N
$75,000
-
-
37,500
-
$37,500
-
-
-
37,500
-
$37,500
2004
Sage
Assessment
Scrub CFD
11
Repay County
Third -Party
061191
08/20/2021
County of
Repay Loan of
Merged
4,838,823
N
$4,838,823
-
4,838,823
-
$4,838,B23
-
-
-
$-
Loan
Loans
1990
Los
Deferred Tax
Angeles
Increment
12
SA
Admin Costs
01/01/
06/302018
SA staff,
Administration
Merged
30B,200
N
$308,200
-
152,000
$152,000
-
156,200
$156,200
Administrative
2014
Various
for both project
Budget
areas
13
City
City/County
02/15/
06/302018
City of
Reimbursement
Merged
N$-
Cooperative
Loan (Prior 06/
2011
West
of advanced
Agreement
28/11), Other
Covina
SA expenses
19
AB 1484
Dissolution
09/10/
06/302018
Rogers,
AS 1484
Merged
-
Y$-
Auditing Fees
Audits
2012
Anderson,
Auditing Fees
Malady &
Scott, LLP
20
Oversight
Legal
10/04/
06/302018
Harper&
Oversight
Merged
Y
$-
-
$-
S-
Boam Legal
2012
Bums
Board Legal
Services
I
Services
21
Successor
Legal
OW301
06/30/2018
Jones &
Successor
Merged
N
$-
-
-
-
-
-
$-
-
$-
Agency Legal
2016
Mayer
Agency Legal
Services
I
Services
23
City Note-
City/County
081091
O6/3012025
City of
Repay City for
Merged
7,281,414
N
$728,142
728.142
$728,142
-
-
-
$-
Administration
Loan (Prior OW
1971
West
Admin&
28111), Other
Covina
construction
24
City Note -CIP
City/County
021281
06/302025
City of
Repay City for
Merged
7,281,414
N
$728, 142
728,142
$728,142
-
$-
A
B
C
D
E
F
G
H
I
J
K
L M N O P
O
R S T U V
w
ROPS 22.23A (Jul - Dec)
ROPS 22-23B (Jan -Jun)
Item
Agreement
Agreement
Total
ROPS
22-23A
22-23Bon
Fund Sources
Fund Sources
*
Project Name
Obligation Type
Execution
Termination
Payee
Description
Area
Outstanding
Reared
22-23 Total
Total
Total
Bond
Reserve
Other
RPTTF
Atlmin
Bond
Reserve
Other
RPTTF
Admit
Data
Date
Obligation
Proceeds
Balance
Funds
RPTTF
Proceeds
Balance
Funds
RPTTF
Loan (Prior O6/
1972
West
capital projects
28111), Other
Covina
25
City Note
City/County
121161
06130=5
City of
Repay City for
Merged
7.281.414
N
$728.142
728.142
$728,142
-
-
$-
Revolving
Loan (Prior Or/
1985
West
revolving credit
28111). Other
I
Covina
26
Sales Tax
Bond
071M
06/30/2025
City of
Reimburse City
Merged
N
S.
$-
-
-
$-
Reimbursement
Reimbursement
2005
West
for CFD Sales
Agreements
Covina
Tax
28
1996 CFD
Bonds Issued
07/01/
09/01/2022
US Bank
Fund Fashion
Merged
5,052,150
N
$5,052,150
-
5,052,150
-
$5,052,150
-
-
-
$-
Refunding
On or Before
1996
Plaza
Bonds
12/31/10
Improvements
30
OPA-CFD
OPA/DDA/
O6/26/
09/0112022
Stanwood
CFD admin and
Merged
-
N
$-
-
-
-
-
$-
-
-
-
$-
Construction
1989
developer
repayment
45
1998-2006
Fees
041011
09/01/2030
US Bank/
Bond Fiscal
Merged
QD00
N
$8,000
$-
-
-
8,000
$8,000
Bonds
1998
BNY
Agent &Uquity
Prey Fees
50
Unfunded
Unfunded
07/01/
06/3012D26
CalPERS
Payment for
Merged
1,073,575
N
$1,073.575
1.073,575
-
$1.073,575
-
-
$-
Pension
Liabilities
1966
unfunded
Liabilities
pension
obligations
51
Retirement
Unfunded
09/191
06/3012034
Former
Payment for
Merged
1.117,731
N
$1,117,731
1,117,731
-
$1.117,731
-
-
-
$-
Benefits
Liabilities
2001
employees
retirement
obligations -
OPEB
54
Contractual
Professional
03r06/
06/302018
Gonsalves
Consultant for
Merged
Y$-
Services ROPS
Services
2013
and Sons
ROPS and
Property
management
plan
55
BKK Landfill
Remediation
04/17/
Oaf30/2018
Various
Landfill closure
Merged
-
IN$
-
Closure
2001
mitigation to
Agreements
approved
recreation use
57
Public Notices
Property
07/01/
06/302018
SGV
Notices of
Merged
-
Y$-
Dispositions
2016
Newspaper
Proposed
Property
Transfer
60
Special
Project
0lloll
06/30/2018
City of
Citywide
Merged
5,000
N
$5,000
-
-
2,500
$2,500
-
2,500
-
$2,500
Assessments
Management
2014
West
Lighting &
on RDA -owned
Costs
Covina
Landscape
parcels
Mainl District
#2
67
Project
Projec[
D927/
Various
Project specific
Merged
30,000
N
$30,000
-
-
15,000
-
$15,000
15,000
$15.000
Administrative
Management
2011
related costs
Costs
Costs
�0613012018
for
environmental
A
B
C
D
E
F
G
H
I
J
K
L M N O P
O
R S T U V
W
ROPS 22.23A (Jul - Dec)
ROPS 22-23B (Jan -Jun)
Item
Name
Project Name
Agreement
Agreement
Total
ROPS
22-23A
22-23B
Fund Sources
Fund Sources
N
Obligation Type
Execution
Termination
Payee
Description
Area
Outstanding
Retired
2223 Total
Total
Total
Bond
Reserve
Other
RPTTF
Atlmin
Bond
Reserve
Other
RPTTF
Admin
Date
Date
Obligation
Proceeds
Balance
Funds
RPTTF
Proceeds
Balance
Funds
RPTTF
land use
consulting for
BKK Landfill
73
Loan
Unfunded
09/161
06/30/2018
City of
Reimbursement
Merged
-
N
$-$-
Agreement
Liabilities
2014
West
of advanced
Covina
SAexpenses
74
Cooperative
Unfunded
09/161
06/30/2018
City of
Reimbursement
Merged
-
N
$-$-
Agreement
Liabilities
2014
West
of advanced
Covina
SAexpensas
76
Loan
Unfunded
09/16/
D6130/2018
City of
Reimbursement
Merged
1,226,433
N
$1,226,433
1,226,433
-
$1,226,433
-
-
-
$-
Agreement
Liabilities
2014
West
of advanced
Covina
SA expenses
(legal
expenses)
77
Housing
Housing Entity
07/011
D6130/2018
Housing
AS 471 -
Merged
N$-
Successor
Admin Cost
2015
Successor
Housing Admin
Admin
I
Agency
89
Project
Project
01/01/
06/30/2018
City of
Project
Merged
Y
Administrative
Management
2016
West
management
Costs
Costs
Covina
costs related to
the dispostion
of BKK
Properties
91
ROPS
Admin Costs
01/011
06/30/2018
Various
Preparation of
Merged
Y$-
Preparation
2016
ROPS for SA
101
Loan
Unfunded
021011
06/30/2018
City of
Loan
Merged
-
Y$-
Agreement
Liabilities
2012
West
Agreement for
Covina
the repayment
of ROPS
approved items
thatexceeded
budgeted
amounts
106
Financing
CRY/County
05/021
12/31/2021
City of
line of credit in
820,185
N
$820,185
820,185
$820,185
-
$-
Agreement
Loan (Prior 061
2000
West
the amount of
28/11). Cash
Covina
$5.6 million.
exchange
The purpose
was to bridge
shortfalls in
RDA revenues.
117
Bond
Fees
07/01/
06/302018
Various
Bond
5,000
N
$5,000
-
-
-
-
-
$-
5,000
-
$5,000
Disclosure
2015
Disclosure
costs
119
Interim
Fees
07/01/
06/302018
Various
Interim
3,000
N
$3,000
$-
-
-
3,000
$3,000
Arbitrage
2015
Arbitrage
Report
Report
134
BKK License
Property
01/01/
06l302018
Various
Retention
-
N
$-
$
-
-
$-
Agreement
Maintenance
2017
Basin
A
B
C
D
E
F
G
H
1
J
K
L M N O P
Q
R S T U V
w
ROPS 22-23A (Jul - Dec)
8 22-23B (Jan -Jun)
Item
Neme
Project Name
Obligation Type
Agreement
Execution
Agreement
Termination
Payee
Description
Total
ROPS
22.23A
Fund Sources
22-23B
Fund Sources
#
Area
Outstanding
Retired
22-23 Total
Total
Total
Bond
Reserve
Other
RPTTF
Admin
Bontl
Reserve
Other
RPTTF
Admin
Dale
Date
Obligation
Proceeds
Balance
Funds
RPTTF
Proceedsl
Balance
Funds
RPTTF
Emergency
Repairs
135
LRPMP
Property
07/01/
06/30/2018
Various
BKK Property
-
Y$-
Disposition
Dispositions
2017
Costs
136
1999TU
Reserves
11/011
11/01/2029
US Bank
Fund capital
-
V$-
Allocation
1999
projects in
Bonds
Merged Area
140
2017 Tax
Refunding
02/07/
Og/01/2030
US Bank
Refund hems #
9,430,391
N
$1,436,406
-
-
-
$-
-
-
1,436,406
-
$1,436,406
Allocation
Bonds Issued
2017
1, 2, 4 & 5
Refunding
After 627/12
Bonds
141
2017 Tax
Fees
02/07/
09VO12030
US Bank
Trustee Fees
2,000
N
$2,000
-
2,000
$2,000
-
-
$-
Allacation
2017
Refunding
Bonds
144
Anticipated/
Litigation
06/30/
06/302021
Jones &
Enforcement of
50,000
N
$50.000
-
-
-
25,000
$25,000
-
25,000
$25,000
Existing
2020
Mayer&
contractual
Litigation
Various
obligations and
rights under a
2006
agreement.
West Covina
Recognized Obligation Payment Schedule (ROPS 22-23) - Notes
July 1, 2022 through June 30, 2023
Item # Notes/Comments
74
.................................. ................................................. ............................ ....... - -- - ---------------------------- . ....... . .......... . ............................ .......................... .. ... . . ... .................... . ........
76
........................ .... ...... ............................................................................................... . . . . . . . . .............. ... . . . . . ........................................................ . . ..........................................................................................................................
77
EXHIBIT B
SUCCESSOR AGENCY TO THE WEST COVINA REDEVELOPMENT AGENCY
ADMINISTRATIVE BUDGET
July 1, 2022 to June 30, 2023
Salaries & Benefits $
Maintenance & Operations
Consultants
Audit Fees
Legal Fees
Overhead
Subtotal
Annual Amount
73,700 $
84,000
4,200
40,000
106,300
234,500
Jul - Dee 2022 Jan - Jun 2023
36,850 $ 36,850
42,000 42,000
- 4,200
20,000 20,000
53,150 53,150
115,150 119,350
Total Budget $ 308,200 $ 152,000 $ 156,200