HomeMy WebLinkAbout2015-09-2738SUCCESSOR AGENCY RESOLUTION NO. 2015-09-2738
A RESOLUTION OF THE CITY OF IRWINDALE AS SUCCESSOR AGENCY
TO THE IRWINDALE COMMUNITY REDEVELOPMENT AGENCY
APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE
FOR THE SIX-MONTH FISCAL PERIOD
BEGINNING JULY 1, 2015 AND ENDING DECEMBER 31, 2015
WHEREAS, pursuant to Assembly Bill 26 of the First Extraordinary Session of the 2011-
2012 Legislative Session ("ABX1 26") (Chapter 5, Statutes of 2011), the Irwindale Community
Redevelopment Agency was effectively dissolved as of February 1, 2012; and
WHEREAS, pursuant to ABX1 26, the City Council of the City of Irwindale adopted
Resolution No. 2012-08-2547 on January 11, 2012, affirmatively electing to serve as the
"Successor Agency" to the Irwindale Community Redevelopment Agency; and
WHEREAS, pursuant to Health and Safety Code Section 34177(1), the Successor
Agency is required to prepare a Recognized Obligation Payment Schedule ("ROPS") prior to
each six-month fiscal period, in a manner prescribed by the California Department of Finance
("DOF"), and submit the ROPS to an oversight board, the Los Angeles County Auditor -
Controller, the State Controller's Office, and DOF for review and approval; and
WHEREAS, Assembly Bill 1484 ("AB 1484") (Chapter 26, Statutes of 2012) established
new procedural requirements for the preparation, review, and approval of ROPS by the
Successor Agency, including clarifications regarding "enforceable obligations"; and
WHEREAS, Exhibit "A" to this resolution establishes a ROPS for the six-month fiscal
period beginning July 1, 2015 and ending December 31, 2015, in a manner consistent with that
prescribed by DOF; and
WHEREAS, the Dissolution Act requires the Successor Agency to prepare a proposed
administrative budget and submit it to the Oversight Board for approval; and
WHEREAS, pursuant to ABX1 26, the Successor Agency is allocated an Administrative
Cost Allowance, as defined in Health and Safety Code Section 34171(b), which provides for an
annual minimum of $250,000 and an annual cap of three percent (3%) of the total annual
allocation of property tax revenues by the Los Angeles County Auditor -Controller from the
Redevelopment Property Tax Trust Fund to the Successor Agency's Redevelopment Obligation
Retirement Fund for the payment of enforceable obligations contained in the Successor
Agency's Recognized Obligation Payment Schedule ("ROPS"), prepared and approved
pursuant to Health and Safety Code Section 34177(1); and
NOW, THEREFORE, THE SUCCESSOR AGENCY TO THE IRWINDALE
COMMUNITY REDEVELOPMENT AGENCY DOES HEREBY RESOLVE AS FOLLOWS:
Section 1. Recitals. The Recitals set forth above are true and correct and
incorporated herein by reference.
Resolution No. SA 2015-09-2738
Page 1
Section 2. Approval of ROPS. The City of Irwindale as Successor Agency hereby
approves the Recognized Obligation Payment Schedule, in substantially the form attached
hereto as Exhibit "A," as required by ABX1 26, enacted during the 2011 legislative year, and AB
1484, enacted during the 2012 legislative year.
Section 3. Approval of Administrative Budget. The Successor Agency hereby
approves and adopts the Draft Fiscal Year 2015-16 Administrative Budget, which is
incorporated in the ROPS.
Section 4. Transmittal to Appropriate Agencies. The Executive Director is hereby
authorized and directed to transmit, by mail or electronic means, a copy of the ROPS to the
Oversight Board, Los Angeles County Auditor -Controller, State Department of Finance, and the
State Controller's Office, as prescribed by statute.
Section 5. Technical Revisions. The Executive Di
directed to use his discretion to make any necessary technic
submittal to the appropriate reviewing bodies.
Breceda,
ATTEST:
bila �'1�1,
L ra M. Nieto, CMC
eputy City Clerk
Resolution No. SA 2015-09-2738
Page 2
Victor -is -hereby authorized and
revisions to the ROPS prior to
STATE OF CALIFORNIA }
COUNTY OF LOS ANGELES } ss.
CITY OF IRWINDALE }
I, Laura M. Nieto, Deputy City Clerk of the City of Irwindale, do hereby certify that the
foregoing Resolution No. SA No. 2015-09-2738 was duly and regularly passed and
adopted by the Successor Agency of the City of Irwindale at its regular meeting held on
the 10th day of September 2014, by the following vote:
AYES: Council Members:
NOES: Council Members:
ABSENT: Council Members:
ABSTAIN: Council Members
Ambriz, Garcia, Miranda, Ortiz, Chair Breceda
None
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None �M
L ra M. Nieto, CMC
eputy City Clerk
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