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Resolution - 2014-2RESOLUTION NO. 2014-2 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 CO.VINA REDEVELOPMENT AGENCY, A REPAYMENT SCHEDULE FOR THE SUPPLEMENTAL EDUCATIONAL REVENUE AUGMENTATION FUND ADVANCES, AND A RECOGNIZED OBLIGATION PAYMENT SCHEDULE "ROPS" FOR THE PERIOD JULY 1, 2014 THROUGH DECEMBER 31, 2014, 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 1 X 26 and AB 1 X 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 AB1X 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 34177, which is set forth in Part 1.85, requires a Successor Agency to prepare and submit an approved Recognized Obligation Payment Schedule for the period from July 1, 2014 to December 31, 2014 to the State Department of Finance by March 1, 2014, 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 Resolution No. 2014-2 Page 2 Director 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 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 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 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 34177 subject to all reservations of rights and contingencies set forth above. SECTION 3. The Administrative Budget for the Successor Agency for the six-month period July — December 2014, 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 34177 subject to all reservations of rights and contingencies set forth above. SECTION 4. The Repayment Schedule for the SERAF Advances from the Housing Successor Agency is attached and has been calculated per AB 1484 and is hereby 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. 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 4 h day of February 2014. ATTEST: City Clerk Ni olas;S."Lewis Resolution No. 2014-2 Page 3 I, NICKOLAS S. LEWIS, 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 4t" day of February 2014 by the following vote of the City Council: AYES: Spence, Sykes, Toma, Warshaw, Herfert NOES: None ABSENT: None ABSTAIN: None City Clerk Ni kolas S. Lewis APPROVED AS TO FORM: —/ ' ���. ��M0 1/