HomeMy WebLinkAbout2012-01-24 - AGENDA REPORTS - RDA SUCCESSOR AGENCY (2)Agenda Item: 8
CITY OF SANTA CLARITA
AGENDA REPORT
City Manager Approval:
NEW BUSINESS Item to be presented by: Armine Chaparyan
DATE: January 24, 2012
SUBJECT: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA CLARITA, CALIFORNIA, DESIGNATING_ THE CITY OF
SANTA CLARITA AS THE SUCCESSOR HOUSING AGENCY
OF THE REDEVELOPMENT AGENCY OF THE CITY OF
SANTA CLARITA AND ADOPTION OF AN AMENDED
ENFORCEABLE OBLIGATION PAYMENT SCHEDULE
DEPARTMENT: Community Development
RECOMMENDED ACTION
City Council-adopt,"A.RES.OLUTLON_ OF_THE-CITY .CO.UNCIL. OF THE CITY OF SANTA
CLARITA, CALIFORNIA, DESIGNATING THE CITY OF SANTA CLARITA AS THE
SUCCESSOR HOUSING AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY
OF SANTA CLARITA" and direct staff to transmit appropriate notification of this action as
required by ABX1 26.
Redevelopment Agency adopt the amended Enforceable Obligation Payment Schedule and direct
staff to comply with the reporting and posting requirements of the Enforceable Obligation
Payment Schedule statute.
BACKGROUND
On June 29, 2011, as part of adopting the State of California Fiscal Year 2011-12 budget, the
Governor signed two trailer bills ABXI 26 (Dissolution Act) and ABX1 27 (Voluntary
Alternative Redevelopment Program) into law. The Dissolution Act eliminated Redevelopment
Agencies and ordered Successor Agencies to wind down the activities of Redevelopment
Agencies. The Voluntary Alternative Redevelopment Program would have provided an
opportunity for cities to voluntarily "opt -in" to a new statutory payment scheme that will allow
their Redevelopment Agencies to continue to operate and function.
In July 2011, California Redevelopment Agency v. Matosantos was filed in the California
Supreme Court by the California Redevelopment Association (CRA), the League of California
A&PIC.,J.-
Cities (League), and the cities of San Jose and Union City, challenging the constitutionality of
ABX1 26 and ABXI 27. The CRA/League legal team argued these two budget bills directly.
violated Proposition 1A, Proposition 22, and Article 16, Section 16 of the California
Constitution. Additionally, the CRA/League also argued the two bills were not severable and
should be upheld or struck down as a pair.
In December 2011, the Supreme Court rendered a decision that was the worst case scenario for
local governments throughout the state. The court upheld ABX1 26 but struck down ABX1 27.
More specifically, the court's decision states the State Legislature had the constitutional power to
dissolve Redevelopment Agencies; however, the option of "voluntarily" remitting payment to
maintain active as a Redevelopment Agency violates Proposition 22. Additionally, the Supreme
Court found the two bills were severable and the provisions of ABX 126 would survive even as
ABX 127 was struck down.
As a result of the Supreme Court's decision, it becomes',necessary for the City of Santa Clarita
(City) to undertake the following actions to implement ABX1 26 and wind down the activities of
the Redevelopment Agency:
• Determine the Successor Agency of the Redevelopment Agency;
• Determine if the City of Santa Clarita should be the Successor Housing Agency of the
Redevelopment Agency;
• Adopt an amended Enforceable Obligation Payment Schedule; and
• Create the Redevelopment Obligation Retirement Fund.
REDEVELOPMENT SUCCESSOR AGENCY
Under ABX1 26, Redevelopment Agencies are dissolved as of February 1, 2012, and replaced
with Successor Agencies responsible for winding down the affairs of the Redevelopment
Agency. This includes:
• Making payments for enforceable obligations and perform obligations pursuant to any
enforceable obligation;
• Enforcing all former Redevelopment Agency rights including continuing to collect loans,
rents, and other revenues due to the Redevelopment Agency;
• Maintaining reserves in the amount required by indentures, trust indentures, or similar
documents governing the issuance of outstanding redevelopment bonds;
• Disposing of the assets and properties of the former Redevelopment Agency;
• Preparing a proposed administrative budget; and
• Preparing a Recognized Obligation Payment Schedule before each six month period.
The City automatically becomes the Successor Agency, unless otherwise determined by the City
Council, and is operative on February 1, 2012. At that time, all assets and funds previously held
by the Redevelopment Agency will be transferred to the Successor Agency. The Redevelopment
Agency currently has no real property assets. The current gross balance of the Redevelopment
non -housing fund is $381,347 (entirely tax increment funds).
RA
The Successor Agency is allowed an administrative allowance. This allowance is up to five
percent of the property tax within the Newhall Redevelopment project area for 2011-12 and three
percent each year thereafter. This amount shall not be less than $250,000 for any fiscal year
unless agreed to by the Successor Agency. The City acting as the role of the Successor Agency
will be allocated $250,000 for its administrative budget'
ABX1 26 requires that any action the Successor Agency takes to be approved by an Oversight
Board. The Oversight Board is a seven member panel consisting of the following members:
• One member appointed by the Mayor;
• One member representing the employees of the former Redevelopment Agency appointed
by the Mayor;
• One member appointed by the Los Angeles County Board of Supervisors;
• One member of the public appointed by the Los Angeles County Board of Supervisors;
• One member appointed by the largest special district, which is Castaic Lake Water
Agency;
• One member appointed by the Los Angeles County Office Board of Education; and
• One member appointed by the Chancellor of the California Community Colleges.
An item to appoint the City representatives on the Oversight Board will be before the City
Council at a later date.
HOUSING SUCCESSOR AGENCY
ABX 1 26 also contains a separate provision that allows the City to become the Successor Agency
for affordable housing functions (Housing Successor Agency). The Housing Successor Agency
assumes the Redevelopment Agency's housing functions and takes over the real assets acquired
using Redevelopment Agency low/mod housing funds (Housing Fund). In order for the City to
become the Housing Successor Agency, the City Council must act affirmatively by adopting the
attached Resolution. If the City does not pass a resolution to become the Housing Successor
Agency by February 1, 2012, the Housing Authority of the County of Los Angeles (County) will
become the Housing Successor Agency by default, and all housing functions and real housing
assets of the Redevelopment Agency will be transferred to County.
The Redevelopment Agency currently has no housing assets. The current gross balance in the
Housing Fund is $8,986,406 ($3,822,466 in tax increment funds and $5,073,940 in bond
proceeds). The majority of these funds were previously set aside to assist the development of
affordable housing though the Newhall Avenue Development.
As it is. currently written, ABX 126 does not allow the funds in the Housing Fund accounts (tax
increment or bond proceeds) to be transferred to the Housing Successor Agency, but instead
requires that those funds be deposited into a Redevelopment Obligation Retirement Fund to pay
back the related bond debt and other Redevelopment Agency obligations. State Legislation has
been introduced to allow the funds in the Housing Fund to be transferred to the Housing
Successor Agency to continue affordable housing projects and programs, but the result of that
proposed legislation is unknown at this time.
J
ENFORCEABLE OBLIGATION PAYMENT SCHEDULE
Under ABX 126, Redevelopment Agencies were required to adopt an Enforceable Obligation
Payment Schedule (Payment Schedule). The Payment Schedule was adopted on August 23, 2011.
The purpose of the Payment Schedule is to list all obligations deemed enforceable by ABX1 26
that would need to be paid for the months of September, October, November, and December of
2011. Only costs that are outlined on the Payment Schedule may be paid by the Redevelopment
Agency and the Successor Agency.
New deadlines imposed by the Supreme Court's decision have created a void in the original
schedule and no formal payment schedule covers the period of January 1, 2012 through June
30, 2012. The City Attorney's Office recommends the Agency Board amend the previously
adopted Payment Schedule to include this time period so that the Redevelopment Agency and
Successor Agency can continue to make payments as needed.
The attached Payment Schedule has been updated to include actual dollars spent between August
and December 2011 and updated projections for the remainder of the term covered. No additional
items have been added to the Payment Schedule and no items have been removed.
Moving forward, the Successor Agency will be required to prepare a Recognized Obligation
Payment Schedule (ROPS) that will set forth the minimum payment amounts and due dates for
payments for each six-month fiscal period. The first ROPS is to be prepared by the Successor
Agency by March 1, 2012.
REDEVELOPMENT OBLIGATION RETIREMENT FUND
The Successor Agency is required to create a Redevelopment Obligation Retirement Fund. The
purpose of this fund is to pay the costs identified in the ROPS. Each January 16th and June 1 st,
the Los Angeles County Auditor -Controller will allocate revenue to pay off the debts outlined on
the ROPS. In preparation for the dissolution of the Redevelopment Agency, staff has created the
Redevelopment Obligation Retirement Fund (Fund 392).
ALTERNATIVE ACTIONS
Other actions as determined by City Council.
FISCAL IMPACT
Upon the effective date of the Successor Agency, all assets, properties, and contracts of the
former Redevelopment Agency will be transferred to the Successor Agency. Funds required to
fullfil enforceable obligations will be transferred into the Redevelopment Obligation Retirement
Fund.
ATTACHMENTS
Resolution
Enforceable Obligation Payment Schedule
RESOLUTION 12-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA,
CALIFORNIA, DESIGNATING THE CITY OF SANTA CLARITA
AS THE SUCCESSOR HOUSING AGENCY OF THE REDEVELOPMENT AGENCY
OF THE CITY OF SANTA CLARITA
WHEREAS, on January 10, 2011, Governor Jerry Brown released his Fiscal Year
2011-12 State budget proposal, which proposed to eliminate Redevelopment Agencies; and
WHEREAS, on June 29, 2011, the Governor signed ABX 1 26 eliminating
Redevelopment Agencies and ABX 1 27 which would have allowed cities to resurrect their
Redevelopment Agency for a large payment in Fiscal Year 2011-12 and continuing payments for
the life of the Redevelopment Agency; and
WHEREAS, the California Redevelopment Association and the League of California
Cities filed a petition July 18, 2011, asking the California Supreme Court (Court) to overturn
ABX 1 26 and ABX 1 27 on the grounds that they violate the Constitution (CRA v. Matosantos);
and
WHEREAS, on December 29, 2011, the Court announced its decision in
CRA v. Matosantos upholding ABX 1 26 as a constitutional exercise of the State Legislature's
power, but striking down ABX1 27 as unconstitutional; and
WHEREAS, as of February 1, 2012, every Redevelopment Agency will be dissolved and
a Successor Agency will be created for each former Redevelopment Agency; and
WHEREAS, under the now -operative ABXI 26, the City of Santa Clarita (City) may
elect to assume the housing functions, duties, and obligations of the Redevelopment Agency; and
WHEREAS, under the now -operative ABx1 2611 by so electing, the City will also receive
all of the housing assets of the Redevelopment Agency, excluding amounts in the
Redevelopment Agency's Low and Moderate Income Housing Fund (Housing Fund), thereby
becoming successor to all of the housing rights and responsibilities of the Redevelopment
Agency; and
WHEREAS, legislation has been introduced that if adopted would also send to the City
the amounts in the Housing Fund.
NOW, THEREFORE, the City Council of the City of Santa Clarita does hereby resolve as
follows::
SECTION 1. The City of Santa Clarita elects to assume the housing functions and take
over the housing assets of the Redevelopment Agency of the City of Santa Clarita, along with all
related rights, powers, liabilities, duties, and obligations, thereby becoming the successor housing
agency.
SECTION 2. The City Clerk shall certify to the adoption of this Resolution.
PASSED, APPROVED, AND ADOPTED this day of 2012.
ATTEST:
CITY CLERK
DATE:
MAYOR
2 / ,�
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARITA)
I, Sarah P. Gorman, City Clerk of the City of Santa Clarita, do hereby certify that the
foregoing Resolution was duly adopted by the City Council of the City of Santa Clarita at a
regular meeting thereof, held on the day of 2012, by the following vote:
AYES: COUNCILMEMBERS:
NOES: COUNCILMEMBERS:
ABSENT: COUNCILMEMBERS:
3
CITY CLERK
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARITA )
CERTIFICATION OF
CITY COUNCIL RESOLUTION
I, , City Clerk of the City of Santa Clarita, do hereby,
certify that this is a true and correct copy of the original Resolution 12- adopted by the City
Council of the City of Santa Clarita, California on , 2012, which is now on file in my
office.
Witness my hand and seal of the City of Santa Clarita, California, this day of 2012.
City Clerk
By
Deputy City Clerk
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