HomeMy WebLinkAbout2012-02-28 - AGENDA REPORTS - ADOPT PAYMENT SCHEDULE BUDGET (2)Agenda Item: 9
CITY OF SANTA CLARITA
AGENDA REPORT
CONSENT CALENDAR City Manager Approval:
Item to be presented by: Armine Chaparyan
DATE: February 28, 2012
SUBJECT: SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY
OF THE CITY OF SANTA CLARITA ADOPT THE RECOGNIZED
ENFORCEABLE OBLIGATION PAYMENT SCHEDULE AND
ADMINISTRATIVE BUDGET FOR THE PERIOD OF FEBRUARY
1, 2012, TO JUNE 30, 2012
DEPARTMENT: Community Development
RECOMMENDED ACTION
1, City Council, acting as Successor Agency for the Redevelopment Agency of the City -of Santa
Clarita, adopt the Recognized Obligation Payment Schedule.
2. Adopt an administrative budget for the period of February 1, 2012, to June 30, 2012,
appropriate the funds listed in the attached document, and increase Tax Increment Revenue
Account 392-4001.007 by $873,591.
BACKGROUND
As part of the dissolution process for the Redevelopment Agency, the City, acting as Successor
Agency for the Redevelopment Agency of the City of Santa Clarita (Successor Agency), must
undertake a number of administrative actions.
Recognized Obligation Payment Schedule (ROPS)
By March 1, 2012, the Successor Agency is required to prepare a draft ROPS for payments
through June 30, 2012. The ROPS serves as an invoice between the Successor Agency and Los
Angeles County (County) and dictates how much property tax increment will be released by the
County to the Successor Agency. Only payments listed on the ROPS may be made by the
Successor Agency.
Moving forward, an ROPS must be adopted by the Successor Agency and approved by an
Oversight Board for each six-month fiscal period. The City Council, acting in the role of the
Successor Agency, can expect to have an ROPS to consider twice a year until the former
Redevelopment Agency is completely dissolved and all remaining debt is paid.
The ROPS looks similar to the Enforceable Obligation Payment Schedule (EOPS) adopted by the
City Council on August 23, 2011, and amended on January 24, 2012. The major differences
between the ROPS and the EOPS are: the ROPS must identify the source of payment (fund
balance, bond proceeds, administrative allowance, etc.) and some agreements listed on the EOPS
are statutorily not allowed to be listed on the ROPS. Additionally, the ROPS will go through a
certification process led by the Los Angeles County Auditor -Controller and must ultimately be
approved by the Oversight Board, which has yet to be formed.
Administrative Budget
The Successor Agency is allowed an administrative allowance, subject to approval by an
Oversight Board. This allowance is up to five percent of the property tax within the Newhall
Redevelopment Project Area for Fiscal Year 2011-12 and three percent each year thereafter. This
amount shall not be less than $250,000 for any fiscal year unless negotiated by the Successor
Agency and Oversight Board.
As a result of the Redevelopment Agency dissolving and the Successor Agency taking over, it
becomes necessary to appropriate the funds to the Successor Agency to continue to make
payments on the ROPS, as the Successor Agency did not exist at the time the Fiscal Year
2011-12 budget was adopted.
The Successor Agency is requesting $252,117.60 for its administrative budget for Fiscal Year
2011-12 to cover all costs to administer the distribution of the former Redevelopment Agency's
assets and to fulfill all other obligations of the former Agency. The proposed administrative
budget includes personnel charges and costs related to the preparation for and hosting of
meetings for the Oversight Board (including office supplies, printing, and special supplies) for
the period of February 1, 2012, to June 30, 2012. A detailed breakdown of the administrative
budget and the costs related to the ROPS is attached, and staff is recommending the City Council
appropriate the funds as shown.
ALTERNATIVE ACTIONS
Other actions as determined by City Council.
FISCAL IMPACT
The General Fund is not impacted by the proposed actions. Upon appropriation of the additional
tax increment revenue, all funds are available in the Redevelopment Obligation Retirement Fund
(392) to cover the proposed administrative budget and all other Recognized Enforceable
Obligations.
ATTACHMENTS
Recognized Obligation Payment Schedule
Successor Agency Budget Appropriation and Adminstrative Allowance Budget
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Funding Source: Successor Agency (Fund
Administrative Allowance (Personnel)
392)
ROPS 6
13404
5001.001
Salaries
$
72,596.00
ROPS 6
13403
5001.001
Salaries
$
42,433.00
ROPS 6
13404
5011,001
Health & Welfare
$
9,259.00
ROPS 6
13403
5011.001
Health & Welfare
$
5,612.00
ROPS 6
13404
5011.002
Life Insurance
$
152.00
BOPS 6
13403
5011.002
Life Insurance
$
89.00
ROPS 6
13404
5011.003
Long -Term Disability
$
465.00
ROPS 6
13403
5011.003
Long -Term Disability
$
272.00
ROPS 6
13404
5011.004
Medicare
$
1,290.00
ROPS 6
13403
5011.004
Medicare
$
759.00
ROPS 6
13404
5011.005
Worker's Comp.
$
1,397.00
ROPS 6
13403
5011.005
Worker's Comp.
$
1,046.00
ROPS 6
13404
5011.006
PERS
$
15,289.00
ROPS 6
13403
5011.006
PERS
$
8,938.00
ROPS 6
13404
5011.007
Deferred Compensation
$
668.00
BOPS 6
13403
5011.007
Deferred Compensation
$
746.00
BOPS 6
13404
5011.010
Supplemental Health
$
620.28
ROPS 6
13403
5011.010
Supplemental Health
$
154.14
ROPS 6
13404
5011.011
EAP
$
22.50
ROPS 6
13403
1 5011.011
EAP
$
13.64
Total Administrative Allowance (Personnel)
$
161,821.56
Administrative Allowance (Operations and Maintenance)
ROPS 7
13404
5101.003
Office Supplies
$
1,000.00
ROPS 7
13404
5191.001
Travel and Training
$
1,500.00
ROPS 7
13404
5101.004
Printing
$
1,000.00
ROPS 7
13404
5161.001
Contractual Services
$
13,350.00
BOPS 7
13404
5111.001
Special Supplies
$
1,500.00
ROPS 7
13404
5511.100
Reimbursement to GF
$
54,053.35
ROPS 7
13403
5511.100
Reimbursement to GF
$
17,891.25
Total Administrative Allowance (Operations and Maintenance)
$
90,294.60
Total Administrative Allowance
$
252,116.1
Recognized Enforceable Obligations
ROPS 2
39219500
5501.551
Transfer Out to LowMod Debt Service*
$_
201,377.87
ROPS 1
39219500
5501.550
Transfer Out to CRA Debt Service*
$
668,974.25
ROPS 20-21
B2012392
5161.001
Metrolink/SCRRA Fencing
$
24,689.02
ROPS 14-16
C2022392
5161.001
5th St/Newhall Ave Traffic Circle
$
184,715.52
ROPS 17-19
S2005392
5161.001
Newhall Streetscape Ph. II
$
50,467.07
ROPS 12
13404
5161.100
Attorney Services
$
27,568.16
ROPS 12
13403
5161.100
Attorney Services
$
3,623.60
ROPS 8-11
13404
5161.002
Professional Services
$
18,669.19
ROPS 3
39219500
1 5501.550
1 City Loan
$
3,672,980.70
Total Recognized Enforceable Obligations$
$
4,853,065.38Total
5,105,181.54
2011/12 Budget
*An additional 1,455,352 is being requested on the ROPS to be released by Los Angeles County in anticipation of the
September debt service payments due on the housing and non -housing bonds. These charges will be appropriated in
Fiscal Year 12-13.
ROPS 3 Appropriations
550
4711.392
Transfer in CRA Debt Service
$
3,672,980.70
ROPS 3
19102
5301.002
Debt Service - Interest
$
3,672,980.70
ROPS 3
100
4603.006
Interest Income - RDA Advance
$
3,672,980.70
ROPS 2
551
4711.392
Transfer In Debt Service
$
201,377.87
ROPS 2
550
1 4711.392
ITransfer In Debt Service
$
668,974.25
5