Resolution - 2013-9RESOLUTION NO. 2013-9
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WEST
COVINA, ACTING AS SUCCESSOR AGENCY TO THE WEST COVINA
REDEVELOPMENT AGENCY APPROVING AND AUTHORIZING THE
TRANSMITTAL OF AN ADMINISTRATIVE BUDGET FOR THE
SUCCESSOR AGENCY TO THE WEST COVINA REDEVELOPMENT
AGENCY, AND SCHEDULES OF DISTRIBUTION OF FUTURE TAX
REVENUES (RECOGNIZED OBLIGATIONS PAYMENT SCHEDULES
"ROPS") FOR THE PERIOD JULY 1 — DECEMBER 31, 2013, PURSUANT
TO ASSEMBLY BILL 1X 26 (AB1X 26)
WHEREAS, the Community Development Commission of the City of West Covina
("Commission") is a community development commission organized and existing under and
pursuant to the California Community Development Commission Law (Part 1.7 of Division 24,
commencing with Section 34100, of the Health and Safety Code of the State of California) (the
"CDCL"); and
WHEREAS, the City Council of the City of West Covina ("City") approved and adopted
the Redevelopment Plans for the following Redevelopment Projects ("Redevelopment Plans")
covering certain properties within the City (the "Project Areas"):
1. On December 20, 1971 the West Covina City Council adopted the original Central
Business District Redevelopment Project Area by adoption of Ordinance No. 1180.
2. On July 14, 1975 the West Covina City Council adopted the original Eastland
Redevelopment Project Area by adoption of Ordinance No. 1269.
3. On December 21, 1993 the West Covina City Council approved the Merger of the
Central Business District and the Eastland Redevelopment Project Areas by adoption of
Ordinance No. 1927 and Ordinance No. 1928, which adopted the merged area as the West
Covina Redevelopment Project Area and added three non-contiguous areas to the merged project
area; and
WHEREAS., as part of the 2011-12 State budget bill, the California Legislature has
enacted and the Governor has signed, companion bills AB IX 26 and AB IX 27, requiring that
each redevelopment agency be dissolved unless the community that created it enacts a resolution
committing it to making certain payments; and
WHEREAS, on December 29, 2011, the California Supreme Court upheld ABIX 26,
which dissolved all of the redevelopment agencies in the State of California as of February 1,
2012, and struck down AB 1 X 27; and
WHEREAS, at a meeting of January 10, 2012, the City of West Covina took action to
designate itself as the Successor. Agency and the Community Development Commission as the
Housing Successor Agency, as provided in California Health and Safety Code §§ 34173 and
34176; and
WHEREAS, Health and Safety Code Section 34169(h), which is set forth in Part 1.8,
requires a Successor Agency to prepare and submit an approved Recognized Obligation Payment
Schedule for the period from July 1, 2013 to December 31, 2013 to the State Department of
Finance by March 1, 2013, which must list the minimum amounts that must be paid by the
successor agency over that six (6) month period to fulfill its enforceable obligations during that
period; and
WHEREAS, the West Covina City Council, acting as Successor Agency to the West
Covina Redevelopment Agency, reserves the right to appeal any determination of the California
Director of Finance or other entity regarding the propriety of this resolution as well as any future
determinations; and
Resolution No. 2013-9
Page 2
WHEREAS, while the West Covina City Council, acting as Successor Agency to the
West Covina Redevelopment Agency, currently 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 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 Schedule of Distribution of Future Tax Revenues (Recognized
Obligations Payment Schedule "ROPS") attached hereto as Attachment "2" is approved and the
City Manager is authorized to transmit the same to the Los Angeles County Auditor -Controller,
the State Controller and the State Department of Finance in accordance with Health and Safety
Code Section 34169 subject to all reservations_ of rights and contingencies set forth above.
SECTION 3. The Administrative Budgets for the Successor for the six-month period
July — December 2013, attached hereto as Attachment "3" is approved and the City Manager is
authorized to transmit the same to the Los Angeles County Auditor -Controller, the State
Controller and the State Department of Finance in accordance with Health and Safety Code
Section 34169 subject to all reservations of rights and contingencies set forth above.
SECTION 5. The City Manager 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 the provision of notice of
adoption of this Resolution and such Schedule to the County Auditor -Controller, the State
Controller and the State Department of Finance.
SECTION 6. The City Clerk shall certify as to the passage and adoption of this
Resolution, and it shall thereupon take effect and be in full force, except that this Resolution
shall not be effective during any period of time that the Stay remains effective.
APPROVED AND ADOPTED on this 5t" day of February 2013.
ATTEST:
City Clerk La64 Carrico
Resolution No. 2013-9
Page 3
I, LAURIE CARRICO, CITY CLERK of the City of West Covina, California, do hereby certify
that the foregoing resolution was duly adopted by the City Council of the City of West Covina,
California, at a regular meeting held thereof on the 5t" day of February 2013 by the following
vote of the City Council:
AYES:
Herfert, Sotelo, Sykes, Sanderson
NOES:
None
ABSENT:
None
ABSTAIN:
None
CiJerk Laurie Carrico
APPROVED AS TO FORM:
City Attorney ArnAlvarez-Glasman
SUMMARY OF RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Filed for the July 1, 2013 to December 31, 2013 Period
Name of Successor Agency: WEST COVINA (LOS ANGELES)
Outstanding Debt or Obligation
Total Outstanding Debt or Obligation
Current Period Outstanding Debt or Obligation
A Available Revenues Other Than Anticipated RPTTF Funding
B Enforceable Obligations Funded with RPTTF
C Administrative Allowance Funded with RPTTF
D Total RPTTF Funded (B + C = D)
E Total Current Period Outstanding Debt or Obligation (A + B + C = E) Should be some amount as ROPS form six-month total
F Enter Total Six -Month Anticipated RPTTF Funding
G Variance (F - D = G) Maximum RPTTFAllowable should not exceed Total Anticipated RPTTF Funding
Prior Period (July 1, 2012 through December 31, 2012) Estimated vs. Actual Payments (as required in HSC section 34186 (a))
H Enter Estimated Obligations Funded by RPTTF (lesser of Finance's approved RPTTF amount including admin allowance or the actual amount distributed)
Enter Actual Obligations Paid with RPTTF
J Enter Actual Administrative Expenses Paid with RPTTF
K Adjustment to Redevelopment Obligation Retirement Fund (H - (I + J) = K)
L Adjustment to RPTTF (D - K = L)
Certification of Oversight Board Chairman:
Pursuant to Section 34177(m) of the Health and Safety code, Name
1 hereby certify that the above is a true and accurate Recognized
Obligation Payment Schedule for the above named agency. /s/
Signature
Total
$313,066,621
Six -Month Total
$5,636,746
$7,067,770
$212,033.
$7,279,803
$12,916,549
$7,279,803
Title
Date
$0
$5,616,065
$4,795,449
$241,173
$579,443
$6,700,360
Oversight Board Approval Date:
WEST COVINA (LOS ANGELES)
RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS 13-14A)
- July 1, 2013 through December 31, 2013
Rem If
Project Name / Debt Obligation
Contract Agreement
Execution Date
Contract/Agreement
Termination Date -
payee
Description/Project Scope
Project Area
Total Outstanding
Debt or Obligation
Total Due During
Fiscal Year
2013.14
Funding Source
Bond Proceeds
Reserve Balance lAdmin
Allowance
RPTTF
Other
5313,066,621
$18,124,391
$0
$1,453,446
$212,033
57,067,770
54,183,300
1
1999 Tax Allocation Bonds
11/1/1999
11/1/2029 -
US Bank
Fund capital projects in Merged Area
Merged
4,998,093
154,400
0
0
0
7,200
0
2
2002 Tax Allocation Bonds
6/1/2002
9/1/2022
US Bank
Refund outstanding 1993 bonds
Merged
11,164,574
- 981,110
0
0
0
786,536
0
3
2006 Lease Revenues Bonds
9/19/2006
6/1/2036
City of West Covina
Reimburse City for SLO Debt Service
Merg/Citywide
29'555,769
1,13S,196
0
0
0
567,598
0
4
1998 Housing Set Aside Bonds
4/1/1998
9/1/2025
US Bank
Acquisition and rehab of a housing prof
Merged
5,625,916
432,682
0
0
0
326,679
0
5
2001 Housing Set Aside Bonds
12/1/2001
9/1/2030
US Bank
Development of a senior housing proj
Merged
10,599,627
770,195
0
0
0
599,718
0
6
SERAF 2010 Housing Loan
2/16/2010
6/30/2015
Housing Successor Agency
Repay SERAF to the housing fund
Merged
4,896,981
1,632,328
0
0
0
816,164
0
7
SERAF 2011 Housing Loan
1/18/2011
6/30/2016
Housing Successor Agency
Repay SERAF to the housing fund
Merged
1,076,382
268,594
0
0
0
134,297
0
8
ODA - The Lakes
6/26/1987
6/30/2038
Gateway Crescent, U.0
Allocated band costs & maim for park structure
Merged
1,380,000
250,000
0
0
0
190,000
0
9
CFD Tax Increment Pledge
6/26/1989
9/1/2C22
Fashion Plaza CFO
Tax Increment pledged (to CFD
Merged
14,427,09S
1,450,000
0
0
0
72S,000
0
10
CSS- CFD
10/19/2004
10/19/2054
Coastal Sage Scurb CFD
CFD Assessment
Merged
4,694,059
74,835
0
0
0
37,418
0
11
Repay County Loan
6/19/1990
8/20/2021
County of Los Angeles
Repay Loan of Defered Tax Increment -
Merged
12,171,800
1,366,844
0
0
0
- 1,366,944
0
12
SA Adminstrative Budget
SA staff, various
Operations for both project areas
Merged
16,520,339
484,361
0
0
212,033
0
0
13
City Cooperative Agreement
City of West Covina
Reimbursement of advanced SA expenses
Merged
500,000
150,000
0
0
0
7S,000
0
14
Anticipated/Existing Litigation
3/16/2006
Squire Sanders & Dempsey
Enforcement of judgments/obligations
Merged
2,400,000
1,200,000
0
0
0
600,OD0
0
15
Antici ated/Existin Litigation
Alvarez-Glasman Colvin
Enforcement of judgments/obligations
Merged
240,000
120,000
0
0
0
60,000
0
16
Anticipated/Existing Litigation
Eminent Domain Law Group
RDA property litigation
Merged
- 300,000
100,000
0
0
0
50,000
0
17
Anticipated/Existing Litigation
Hunsucker Goldstien
RDA property litigation
Merged
100,000
S0,000
0
0
0
.25,000
0
18
Project Administrative Costs
Various
Project specific related costs
Merged
0
0
0
0
0
0
0
19
AS 1484 Auditing Fees
White Nelson Diehl Evans
AS 1464 Auditing Fees
Merged
262,500
15,000
0
0
0
15,000
0
20
Oversight Board Legal Services
TBO
Oversight Board Legal Services
Merged
0
0
0
0
0
0
0
21
Successor Agency Legal Services
Alvarez-Glasman Colvin
Successor Agency Legal Services
Merged
0
0
0
0
0
0
0
22
Property Management Plan
TBO
Long -Range Property Management Plan per AS 1484
Merged
300,000
300,000
0
0
0
300,000
0
28
tm
1996 CFD Refunding Bonds
7/1/1996 9/1/2022
US Bank
Fund Fashion Plaza improvements
Merged
43,711,800
3,944,550 0
0
0
0
3,030,600
29
1988 Lease Rev Refunding Bonds
8/1/1998
8/1/2018
Wells Fargo Bank
Fund Lakes Parking Project
Merged
3,831,000
539,900
0
0
0
0
502,700
30
OPA - CFO
6/26/1989
9/1/2022
Westfield Corporation
CFO admin and developer repayment
Merged
95,123,569
650,000
0
0
0
0
650,000
31
Anticipated/Existing Litigation
3/16/2006
Squire Sanders & Dempsey
Enforcement of 'ud ments/obli ations Feb -Jun 2012
Merged
0
0
0
0
0
0
0
32
Anticipated/Existing Litigation
3/16/2006
Squire Sanders & Dempsey
Enforcement of judgments/obligations Jul -Dec 2012
Merged
0
0
0
0
0
0
0
33
Anticipated/Existing Litigation
3/16/2006
Alvarez-Glasman Colvin
Enforcement of judgments/obligations Feb-lun 2012
Merged
0
0
0
0
0
0
0
34
Anticipated/Existing Litigation
3/16/2006
Alvarez-Glasman Colvin
Enforcement of judgments/obligations Jul-Oec 2012
Merged
0
0
0
- 0
0
0
0
35
Anticipated/Existing Litigation
Eminent Domain Law Group
RDA property litigation: Feb -Jun 2012
Merged
0
0
0
0
0
0
0
36
Anticipated/Existing Litigation
Eminent Domain Law Group
RDA property litigation: Jul -Dec 2012
Merged
0
0
0
0
0
0
0
37
Anticipated/Existing Litigation
Hunsucker Goldstien
RDA property litigation: Feb -Jun 2012
Merged
0
0
0
0
0
0
0
38
Anticipated/Existing Litigation
Hunsucker Goldstien
RDA property litigation: Jul -Dec 2012
Merged
0
0
0
0
0
0
0
39
Successor Agency Legal Services
-
Alvarez-Glasman Colvin
Successor Agency Legal Services: Feb -Jun 2012
Merged
0
0
0
0
0
0
0
40
Successor Agency Legal Services
Alvarez-Glasman Colvin
ISucceswr Agency Legal Services: Jul -Dec 2012
IMerged
01
0
0
1 0
1 0
0
1 0
1998-2006 Bonds
Per bond documents
Individual bond dates
US Bank
Bond Fiscal Agent Fees
Merged
16,000 0
O
0
45
7,500
0
46
1998.2006 Bonds
Per bond documents
Individual bond dates
Wells Fargo Bank
Bond Letter of Credit Fees
Merged
58,080
0
0
0
29,040
0
47
1998 - 2006 Bonds
Per bond documents
Individual bond dates
Wells Fargo Bank
Bond Remarketing Fees
Merged
4,800
0
0
0
2,400
0
48
1998 - 2006 Bonds
Per bond documents
Individual bond dates
Standard and Poors
Bond Credit Agency Surveilance Fees
Merged
2,000
0
0
0
2,000
0
49
Anticipated/Existing Litigation
Law Office of Robert Gooko
RDA property litigation - BKK slope failure
Merged
375,000
200,000
0
0
0
300,OD0
0
50
Unfunded Pension Uabilities
ongoing
CaIPERS
Payment for unfunded pension obligations
Merged
1,341,967
89,464
0
0
0
44.732
0
51
Retirement Benefits
ongoing
Former employee
Payment for retirement obligations
Merged
1,197.721
25,924
0
0
0
12,962
0
52
POPS 1 RORF Reserve
City of West Covina
lAdjustment to Redevelopmt Obligation Retirement Fund
Mer ed
1,453,446
1,453,446
0
1,453,446
0
0
0
53
Outstanding Pass Through Obligations
Various taxingentities
Consultant for POPS and property management plan
Mer ed
168,682
168,682
0
0
0
168,682
0
54
Contractual Services ROPS/Property Plan
Gonsalves and Sons
Landfill closure mitigation to approved recreation use
Imerged
72,000
36.000
0
0
0
18,000
0
55
1 BKK Landfill Closure Agreements
Various
Landfill closure mitigation to approved recreation use
I Merged
45,578,311
0
0
0
0
0
0
Six -Month Total
$12,916,549
7,200
786,536
567,598
326,679
599,718
816,164
134,297
190,000
725,000
37,418
1,366,844
212,033
75,000
600,000
60,000
50,000
25,000
0
15,000
0
0
300,000
0
0
0
0
0
3,030,600
502,700
650,000
0
0
0
0
0
0
C
0
0
0
0
0
0
0
7,500
29,040
2,400
2,000
100,000
44,732
12,962
1.453,446
168,682
18,000
0
WEST COVINA )LOS ANGELES)
Pursuant to Health and Safety Code section 34196 (a)
PRIOR PERIOD ESTIMATED OBLIGATIONS vs. ACTUAL PAYMENTS
RECOGNIZED OBLIGATION PAYMENT SCHEDULE PROPS III
July 1, Z012 through December 31, 2012
Item p IPMjectNamej
ebt Obligation
Payee
Description/Project Scope
Project Area
LMIHF
Bond Proceeds
Reserve Balance
Admin Allowance
RPTTF
Oth
Estimate
Actual
Estimate
Actual
Estimate
Actual
Estimate
Actual
Estimate
Actual
Estimate
$0
$0
$0
SO
SO
50
$241,173
$241,173
$5,374,892
54,795,449
$3,683.700
1
19% Tax Allocation Bonds
US Bank
Fund capital grolects in Mer ed Area
Merged
171,600
157,696
2
2002 Tax Allocation Bonds
US Bank
Refund ouItsdmg 1993 bonds -
Merged
782,736
781,186
3
1996 CFO Refunding Bonds
US Bank
Fund Fashion Plaza Im ovemenb
Me
0
0
2,798,700
4
1988 Lease Rev Ref, Ends
WeILs Far Bank
Fund the Lakes Parkin P
Merged462,740
0
5
2D06 Lease Revenues Bonds
O of West Covina
Reimburse C for eLD Debt Service
Mer ids
563,490
563,500
6
1998 Housi Set Aside Bonds
US Bank
A uisnion and rehab of a Aousin
Merged
330,729
330.529
7
2001 Heusi Set Asitle Bonds
US Bank
Dove of a senior hou
Mer ed
591,717
591.592
8
SERAF 2010 II.—M Loan
Hcusm Successor A
R SE RAF to me nousi fund
C'
-
816.164
816,164
9
RA
SEF 2011 Heusi Loan
Housin Successor A
R a SERAF to the housin fund
C
133.297
133,297
10
OCA - The lakes
Various
Bond admin 8 maim for park structure
Mer
135,000
198.307
11
OPA - CFO
Westfield et all
C F D admin 6 Dev re room
Merged
0
0
885.000
12
CFO Tax Increment Pled
Plaza CFO
Tax Increment led Do CFD
M
0
0
13
CSS -CFD
CSS Com Fac Dist
CFO Assessment
merw
37,419
36,694
14
S82557 Admin
County of Los Angeles
Tax Collectlon Services
memm
0
0
15
Paasthm
Other taxing entities
Passmrus pw agreements and Code
Merged
0
0
i6
Ra Coun loan
Cou of Los Angeles
R Loan of Deferetl Tax Increment
Merged
1,350.OD0
1,186.494
17
Non nnNo ratklrt cast
Various
Operations for both m areas
Merged
0
0
18
Administrative Allowance
Various employees
Salaries and benefits for noel
Mer M
241,173
204,940
0
0
19
Antici ed/Existi L'4' twn
Vanous
Enforcement of oW' twos
Mer ed
0
0
20
C' Note-Admwistrdtion
City of West Covina
R C' for admin8constnxtan
Merged
0
0
21
C- Note-CIP
C' of West Canna
Re C" forUdal d
Merged
0
22
City Note Rilv.Mno
City of West Covina
R ay C' for re, v4d4
Merged
1
0
0
23
Sales Tax Reimbursement
Reimburse Cry for CFD Sales Tax
Merged
0
0
24
____CdvofWsstCovina
GoH CourseA rearrent
Varous
Golf Course) IementalionAgreement
Merged
0
0
25
Resenefor ROP53 Admin Allowance
Various
Satan -and benefits for personnel
Merged
0
36,233
Actual
$3.693.700
2,798,700
885,000
Successor Agency to the West Covina Redevelopment Agency
Administrative Budget
Used for July -Dec 2013 ROPS
Annual
July -Dec
Amount
2013
Salaries & Benefits
340,150
170,075
M&O
Consultants
25,000
12,500
Legal Fees
30,000
15,000
Phone
908
454
Cell Phone
720
360
Supplies
2,500
1,250
A & 0
65,000
32,500
Liability Insurance
16,800
8,400
Subtotal
140,928
70,464
Total Budget
481,078
240,539
Attachment 3
Administrative BudgetAdmin Budget 2013-141/31/2013