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Home My WebLink About2025-08-26 - RESOLUTIONS - SUCCESSOR AGENCY APPROVE FINAL ROPSRESOLUTION NO. SA 25-2 A RESOLUTION OF THE GOVERNING BOARD OF THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA CLARITA, CALIFORNIA, APPROVING THE LAST AND FINAL RECOGNIZED OBLIGATION PAYMENTS SCHEDULE (ROPS) WHEREAS, pursuant to AB X 126, 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 Santa Clarita was dissolved as of February 1, 2012, and the City of Santa Clarita elected to serve as the Successor Agency to the former Redevelopment Agency to the City of Santa Clarita; 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, shall have five consolidated oversight boards each encompassing the five supervisorial districts; and WHEREAS, the Fifth Supervisorial District Consolidated Oversight Board (5th District Consolidated Oversight Board) has jurisdiction over the Successor Agency of the Former ..� Redevelopment Agency to the City of Santa Clarita; and WHEREAS, the Governing Board of the Successor Agency to the Redevelopment Agency of the City of Santa Clarita held a regular meeting on August 26, 2025. NOW, THEREFORE, the Governing Board of the Successor Agency to the Redevelopment Agency of the City of Santa Clarita, California, does hereby resolve as follows: SECTION 1. The Governing Board of the Successor Agency to the Redevelopment Agency of the City of Santa Clarita hereby approves the Successor Agency's Last and Final Recognized Obligation Payment Schedule (ROPS) for the period of July 1, 2026 to June 30, 2043, attached hereto as Exhibit A. SECTION 2. The Secretary of the Successor Agency to the Redevelopment Agency of the City of Santa Clarita shall certify the adoption of this resolution. SECTION 3. The Successor Agency's officials and staff are hereby authorized and directed to transmit this resolution and take all other necessary and appropriate actions as required by law in order to effectuate its purposes. Page 1 of 2 PASSED, APPROVED, AND ADOPTED this 26th day of August 2025. HAIR ATTEST: L4wut�6'e- SECRETARY DATE: 7i � STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) ss. CITY OF SANTA CLARITA ) I, Mary Cusick, Secretary of the Successor Agency to the Redevelopment Agency of the City of Santa Clarita do hereby certify that the foregoing Resolution No. SA 25-2 was duly adopted by the Governing Board of the Successor Agency to the Redevelopment Agency of the City of Santa Clarita at a regular meeting thereof, held on the 261h day of August 2025, by the following vote: AYES: BOARDMEMBERS : NOES: BOARDMEMBERS : ABSENT: BOARDMEMBERS: Gibbs, Ayala, Weste, McLean, Miranda None None SECRETARY Page 2 of 2 Exhibit A Last and Final Recognized Obligation Payment Schedule (ROPS) - Summary Filed for the July 1, 2026 through June 30, 2043 Period Successor Agency: Santa Clarita County: Los Angeles Initial ROPS Period ROPS 26-27A Final ROPS Period ROPS 42-43B Total Outstanding Requested Funding for Enforceable Obligations Obligation A Enforceable Obligations Funded as Follows (B+C): B Bond Proceeds C Other Funds D Redevelopment Property Tax Trust Fund (RPTTF) (E+F): E RPTTF F Administrative RPTTF G Total Outstanding Enforceable Obligations (A+D): 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 agency. /s/ Name Signature $ 31,650,760 31,650,760 $ 48,067,927 48,067,927 70 740 C4C Title Date N Santa Clarita Last and Final Recognized Obligation Payment Schedule (ROPS) - ROPS Detail July 1, 2026 through June 30, 2043 A Period B Period Jul - December January - June Fund Sources Fund Sources Bond Admin Six -Month Bond Adrnin Six -Month ROPS Period Proceeds Other Funds RPTTF RPTTF Total ROPS Period Proceeds Other Funds RPTTF RPTTF Total Twelve -Month Total $ - $ 31,650,760 $ 13,450,396 $ - $ 45,101,156 $ $ $ 34,617,530 $ $ 34,617,530 $ 79,718,686 ROPS 26-27A - 1,650,022 1,361,081 - $ 3,011,103 ROPS 26-27B - - 2,160,390 - $ 2,160,390 $ 5,171,493 ROPS 27-28A - 1,676,522 1,373,350 - $ 3,049,872 ROPS 27-28B - - 2,164,610 - $ 2,164,610 $ 5,214,482 ROPS 28-29A - 1,698,597 1,473,727 - $ 3,172,324 ROPS 28-29B - - 2,166,089 - $ 2,166,089 $ 5,338,413 ROPS 29-30A - 1,719,300 1,534,679 - $ 3,253,979 ROPS 29-30B - - 2,162,414 - $ 2,162,414 $ 5,416,393 ROPS 30-31A - 1,747,425 1,621,277 - $ 3,368,702 ROPS 30-31 B - - 2,172,434 - $ 2,172,434 $ 5,541,136 ROPS 31-32A - 1,779,897 1,670,196 - $ 3,450,093 ROPS 31-32B - - 2,163,864 - $ 2,163.864 $ 5,613,956 ROPS 32-33A - 1,795,572 1,750,167 - $ 3,545,739 ROPS 32-33B - - 2,162,108 - $ 2,162.108 $ 5,707,846 ROPS 33-34A - 1,819,653 1,814,209 - $ 3,633,862 ROPS 33-34B - - 2,163,542 - $ 2,163,542 $ 5,797,404 ROPS 34-35A - 1,847,828 812,534 - $ 2,660,363 ROPS 34-35B - - 2,157,984 - $ 2,157,984 $ 4,818,347 ROPS 35-36A - 1,870,006 4,406 - $ 1,874,412 ROPS 35-36B - - 2,163,636 - $ 2.163,636 $ 4,038,048 ROPS 36-37A - 1,905,288 4,538 - $ 1,909,825 ROPS 36-37B - - 2,171,853 - $ 2.171,853 $ 4,081,678 ROPS 37-38A - 1,944,350 4,674 - $ 1,949,024 ROPS 37-38B - - 2,162,448 - $ 2,162,448 $ 4,111,471 ROPS 38-39A - 1,967,100 4,814 - $ 1,971,914 ROPS 38-39B - - 2,161,545 - $ 21161,545 $ 4,133,459 ROPS 39-40A - 2,001,600 4,959 - $ 2,006,559 ROPS 39-40B - - 2,157,845 - $ 2,157,845 $ 4,164,404 ROPS 40-41A - 2,034,700 5,107 - $ 2,039,807 ROPS 40-41B - - 2,161,349 - $ 2,161,3491 $ 4,201,156 ROPS 41-42A - 2,076,400 5,261 - $ 2,081,661 ROPS 41-42B - - 2,161,655 - $ 2,161,655 $ 4,243,316 ROPS 42-43A - 2,116,500 5,418 - $ 2,121,918 ROPS 42-43B - - 3,765 - $ 3,765 $ 2,125.683 w Santa Clarita Last and Final Recognized Obligation Payment Schedule (ROPS) - ROPS Detail July 1, 2026 through June 30, 2043 (Report Amounts in Whole Dollars) A B C D E F G Contract/Agreement Contract/Agreement Item # Project Name/Debt Obligation Obligation Type Execution Date Termination Date Payee Description/Project Scope 46 Reinstatement of loans made by the City/County Loan (Prior 2/24/2015 7/8/2043 City of Santa Clarita Repayment of loans made to City to the former RDA 06/28/11), Cash former RDA by the City of Santa exchange Clarita. 52 Series 2017 Tax Allocation Refunding Bonds Issued 2/2/2017 10/1/2042 Bank of New York Advance Refunded: 1) Tax Refunding Bonds After 6/27/12 Allocation Bonds Series 2008 (bonds issued to fund redevelopment projects) and 2) Housing Set -Aside Tax Allocation Bonds Series 2008 (bonds issued to fund low and moderate income housing projects and programs) 53 Annual Trustee Fee for Series 2017 Professional Services 7/1/2026 6/30/2043 Bank of New York Bonds issued to fund Tax Allocation Bond redevelopment projects and low and moderate income housing projects and programs 54 Continuing Disclosure/Post Professional Services 7/1/2026 6/30/2043 Digital Assurance Continuing disclosure/post Issuance Compliance for Series Certification LLC issuance compliance 2017 Tax Allocation Refunding 55 Auditing Services Fees 7/1/2026 6/30/2043 The Pun Group, LLP Auditing services (or current audit firm awarded audit contract) 4=- A B 1 Total Outstanding Item # Project Name/Debt Obligation Obligation Notes 48,067,927 46 Reinstatement of loans made by the 13,376,918 Amount was calculated using one-half of the increase between forecasted comparison years and City to the former RDA base year residual amounts per the formula specified in HSC section 34191.4 (b) (3). 52 Series 2017 Tax Allocation 34,566,475 Debt service for calendar year is claimed on the B ROPS to comply with the bond covenant: Refunding Bonds Page 18 of the Official Statement states: "...the Successor Agency has covenanted to submit an Oversight Board approved Recognized Obligation Payment Schedule to the State Department of Finance and to the County Auditor -Controller, which shall include all scheduled interest, principal and mandatory sinking fund payments that are due and payable on all Bonds and Parity Bonds of the Successor Agency during the next ensuing calendar year, together with any amount required to replenish the Reserve Fund, and any amounts due and owing to the Insurer under the Indenture." 53 Annual Trustee Fee for Series 2017 44,829 Tax Allocation Bond 54 Continuing Disclosure/Post 6,226 Issuance Compliance for Series 2017 Tax Allocation Refunding 55 Auditing Services 73,479 vk A B CD CE CF CG CH CI CJ CK Item # Project Name/Debt Obligation 26-27A Jul - December 26-27B(January - June Fund Sources Fund Sources Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF - 1650,022 1,361,081 - - 2,160 390 - 46 Reinstatement of loans made by the City to the former RDA 1,357,705 52 Series 2017 Tax Allocation Refunding Bonds 1,650,022 2,158,044 53 Annual Trustee Fee for Series 2017 Tax Allocation Bond 2,060 54 Continuing Disclosure/Post Issuance Compliance for Series 2017 Tax Allocation Refunding 286 55 Auditing Services 3,377 1011 A B CL CM CN Co CP CQ CR CS Item # Project Name/Debt Obligation 27-28A (July__- December 27-28B Janus - June Fund Sources Fund Sources Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF - 1,676,522 1,373,350 - - - 2,164610 - 46 Reinstatement of loans made by the City to the former RDA 1,369,872 52 Series 2017 Tax Allocation Refunding Bonds 1,676, 522 2,162,194 53 Annual Trustee Fee for Series 2017 Tax Allocation Bond 2,122 54 Continuing Disclosure/Post Issuance Compliance for Series 2017 Tax Allocation Refunding 295 55 Auditing Services 3,478 v A B CT C:U CV CW CX CY CZ DA Item # Project Name/Debt Obligation 28-29A Jul - December 28-29B(January - June Fund Sources Fund Sources Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF - 1,698,597 1,473,727 - _ - 2,166,089 - 46 Reinstatement of loans made by the City to the former RDA 1,470,145 52 Series 2017 Tax Allocation Refunding Bonds 1.698, 597 2,163,600 53 Annual Trustee Fee for Series 2017 Tax Allocation Bond 2,185 54 Continuing Disclosure/Post Issuance Compliance for Series 2017 Tax Allocation Refunding 304 55 Auditing Services 3,582 M A B DB DC DD DE DF DG DH DI Item # Project Name/Debt Obligation 29-30A Jul - December 29-30B(January - June Fund Sources Fund Sources Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF - 1,719,300 1,534,679 - - - 2,162,414 - 46 Reinstatement of loans made by the City to the former RDA 1,530,989 52 Series 2017 Tax Allocation Refunding Bonds 1,719,300 2,159,850 53 Annual Trustee Fee for Series 2017 Tax Allocation Bond 2,251 54 Continuing Disclosure/Post Issuance Compliance for Series 2017 Tax Allocation Refunding 313 55 Auditing Services 3,690 0 A B DJ DK DL DM DN DO DP DQ Item # Project Name/Debt Obligation 30-31A Jul - December 30-316(January -June) Fund Sources Fund Sources Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF - 1,747, 425 1,621,277 - - - 2,172,434 - 46 Reinstatement of loans made by the City to the former RDA 1,617,477 52 Series 2017 Tax Allocation Refunding Bonds 1,747,425 2,169,794 53 Annual Trustee Fee for Series 2017 Tax Allocation Bond 2,319 54 Continuing Disclosure/Post Issuance Compliance for Series 2017 Tax Allocation Refunding 322 55 Auditing Services 3,800 O A B DR DS DT DU DV DW DX DY Item # Project Name/Debt Obligation 31-32A Jul - December 31-32B Janus - June Fund Sources Fund Sources Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF - 1,779,897 1,670,196 $ - - - 2.163 864 - 46 Reinstatement of loans made by the City to the former RDA 1,666,282 52 Series 2017 Tax Allocation Refunding Bonds 1,779,897 2,161,144 53 Annual Trustee Fee for Series 2017 Tax Allocation Bond 2,388 54 Continuing Disclosure/Post Issuance Compliance for Series 2017 Tax Allocation Refunding 332 55 Auditing Services 3,914 A B DL EA EB EC ED EE EF EG Item # Project Name/Debt Obligation 32-33A Jul - December 32-33g(January - June Fund Sources Fund Sources Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF - 1,795,572 1,750,167 - - 2,162,108 _ - 46 Reinstatement of loans made by the City to the former RDA 1,746,135 52 Series 2017 Tax Allocation Refunding Bonds 1,795,572 2,159, 306 53 Annual Trustee Fee for Series 2017 Tax Allocation Bond 2,460 54 Continuing Disclosure/Post Issuance Compliance for Series 2017 Tax Allocation Refunding 342 55 Auditing Services 4,032 c� A B EH Ell EJ EK EL EM EN EO Item # Project Name/Debt Obligation 33-34A Jul - December) 33-346(January - June Fund Sources Fund Sources Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF - 1,819,653 1,814,209 - - 2,163,542 46 Reinstatement of loans made by the City to the former RDA 1,810,056 52 Series 2017 Tax Allocation Refunding Bonds 1,819,653 2,160,656 53 Annual Trustee Fee for Series 2017 Tax Allocation Bond 2,534 54 Continuing Disclosure/Post Issuance Compliance for Series 2017 Tax Allocation Refunding 352 55 Auditing Services 4,153 w A B EP EQ ER ES ET EU EV EW Item # Project Name/Debt Obligation 34-35A Jul - December) 34-35B(January - June Fund Sources Fund Sources Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF 1 847 828 812,534 - - 2,157,984 46 Reinstatement of loans made by the City to the former RDA 808,257 52 Series 2017 Tax Allocation Refunding Bonds 1,847,828 2,155, 013 53 Annual Trustee Fee for Series 2017 Tax Allocation Bond 2,610 54 Continuing Disclosure/Post Issuance Compliance for Series 2017 Tax Allocation Refunding 362 55 Auditing Services 4,277 -,L - A B EX EY EZ FA FB FC FD FE Item # Project Name/Debt Obligation 35-36A Jul - December 35-36 Janus - June Fund Sources Fund Sources Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF - 1,870,006 4,406 - - - 2,163 636 - 46 Reinstatement of loans made by the City to the former RDA - 52 Series 2017 Tax Allocation Refunding Bonds 1,870,006 2,160, 575 53 Annual Trustee Fee for Series 2017 Tax Allocation Bond 2,688 54 Continuing Disclosure/Post Issuance Compliance for Series 2017 Tax Allocation Refunding 373 55 Auditing Services 4,406 A B FF FG FH FI FJ FK FL FM Item # Project Name/Debt Obligation 36-37A Jul - December 36-378(January - June Fund Sources Fund Sources Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF - 1 905 288 4 538 - - 2,171,853 46 Reinstatement of loans made by the City to the former RDA - 52 Series 2017 Tax Allocation Refunding Bonds 1,905,288 2,168,700 53 Annual Trustee Fee for Series 2017 Tax Allocation Bond 2,768 54 Continuing Disclosure/Post Issuance Compliance for Series 2017 Tax Allocation Refunding 385 55 Auditing Services 4,538 04 A B FN FO FP FQ FR FS FT FU Item # Project Name/Debt Obligation 37-38A Jul - December 37-38B(January - June Fund Sources Fund Sources Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF - $ 1,944,350 4,674 - - - 2,162,448 - 46 Reinstatement of loans made by the City to the former RDA - 52 Series 2017 Tax Allocation Refunding Bonds 1,944,350 2,159, 200 53 Annual Trustee Fee for Series 2017 Tax Allocation Bond 2,852 54 Continuing Disclosure/Post Issuance Compliance for Series 2017 Tax Allocation Refunding 396 55 Auditing Services 4,674 A B FV FW FX FY FZ GA GB GC Item # Project Name/Debt Obligation 38-39A (Jul - December) 38-398(January - June Fund Sources Fund Sources Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds � RPTTF Admin RPTTF v - 1,967 100 4,814 - - 2,161,545 - 46 Reinstatement of loans made by the City to the former RDA - 52 Series 2017 Tax Allocation Refunding Bonds 1,967,100 2,158, 200 53 Annual Trustee Fee for Series 2017 Tax Allocation Bond 2,937 54 Continuing Disclosure/Post Issuance Compliance for Series 2017 Tax Allocation Refunding 408 55 Auditing Services 4,814 A B GD GE GF GG GH GI GJ GK Item # Project Name/Debt Obligation 39-40A(July - December 39-40B(January - June Fund Sources Fund Sources Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF - 2,001,600 4,959 - - - 2,157 845 - 46 Reinstatement of loans made by the City to the former RDA 52 Series 2017 Tax Allocation Refunding Bonds 2,001,600 2,154,400 53 Annual Trustee Fee for Series 2017 Tax Allocation Bond 3,025 54 Continuing Disclosure/Post Issuance Compliance for Series 2017 Tax Allocation Refunding 420 55 Auditing Services 4,959 A B GL GM GN GO GP GQ GR GS Item # Project Name/Debt Obligation 40-41A Jul - December 4041B(January - June Fund Sources Fund Sources Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF - 2,034,700 5,107 - - 2,161,349 46 Reinstatement of loans made by the City to the former RDA 52 Series 2017 Tax Allocation Refunding Bonds 2,034,700 2,157, 800 53 Annual Trustee Fee for Series 2017 "fax Allocation Bond 3,116 54 Continuing Disclosure/Post Issuance Compliance for Series 2017 Tax Allocation Refunding 433 55 Auditing Services 5,107 t� O A B GT GU GV GW GX GY GZ HA Item # Project Name/Debt Obligation 41-42A Jul - December 41-42B(January - June Fund Sources Fund Sources Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF - 2,076,400 5,261 - - - 2,161,655 46 Reinstatement of loans made by the City to the former RDA 52 Series 2017 Tax Allocation Refunding Bonds 2,076,400 2,158,000 53 Annual Trustee Fee for Series 2017 Tax Allocation Bond 3,209 54 Continuing Disclosure/Post Issuance Compliance for Series 2017 Tax Allocation Refunding 446 55 Auditing Services 5,261 N A B HB HC HD HE FIF HG HH HI Item # Project Name/Debt Obligation 42-43A Jul o December 42-43B(January w June Fund Sources Fund Sources Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF - 2 116 500 5,418 - 3,765 46 Reinstatement of loans made by the City to the former RDA 52 Series 2017 Tax Allocation Refunding Bonds 2,116, 500 - 53 Annual Trustee Fee for Series 2017 Tax Allocation Bond 3,306 54 Continuing Disclosure/Post Issuance Compliance for Series 2017 Tax Allocation Refunding 459 55 Auditing Services 5,418 A B IP Total RPTTF (Not Including Item # Project Name/Debt Obligation Total Other Funds) 79,718,686 48,067,927 46 Reinstatement of loans made by the $ 13,376,918 $ 13,376,918 City to the former RDA 52 Series 2017 Tax Allocation $ 66,217,235 $ 34,566,475 Refunding Bonds 53 Annual Trustee Fee for Series 2017 $ 44,829 $ 44,829 Tax Allocation Bond 54 Continuing Disclosure/Post $ 6,226 $ 6,226 Issuance Compliance for Series 2017 Tax Allocation Refunding 55 Auditing Services $ 73,479 $ 73,479