Loading...
HomeMy WebLinkAbout25245RESOLUTION NO. 25245 ' A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS, CALIFORNIA, ACTING SOLELY IN ITS CAPACITY AS SUCCESSOR AGENCY TO THE PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY, APPROVING THE LAST AND FINAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE ("ROPS") PURSUANT TO HEALTH AND SAFETY CODE SECTION 34191.6. WHEREAS, the Successor Agency to the Palm Springs Community Redevelopment Agency ("Successor Agency") is the successor to the Community Redevelopment Agency of the City of Palm Springs ("Former Redevelopment Agency"), a redevelopment agency in the City of Palm Springs, duly created pursuant to the California Community Redevelopment Law (Part 1 (commencing with Section 33000) of Division 24 of the California Health and Safety Code) ("Redevelopment Law"); and WHEREAS, the "Dissolution Act," comprised of Assembly Bill "ABX1 26" (Chapter 5, Statutes of 2011) and "ABX1 27" (Chapter 6, Statutes of 2011), and subsequent legislation including Assembly Bill "AB 1484" (Chapter 26, Statutes of 2012) and Senate Bill "SB 107" (Chapter 325, Statutes of 2015), made certain changes to the Redevelopment Law, including adding Part 1.8 (commencing with Section 34161) and ' Part 1.85 (commencing with Section 34170) to Division 24 of the California Health and Safety Code ("HSC"); and WHEREAS, HSC Section 34177(I) requires the Successor Agency to prepare a Recognized Obligation Payment Schedule ("ROPS") listing the enforceable obligations of the Former Redevelopment Agency and of the Successor Agency, including administrative expenses; and WHEREAS, pursuant to subdivision (a) of HSC Section 34191.6, beginning January 1, 2016, successor agencies that have received a Finding of Completion have the option to submit a Last and Final BOPS to the Department of Finance ("DOF") at any time, if all the following conditions are met: (1) The successor agency's remaining debt is limited to payments pursuant to enforceable obligations with defined payment schedules including, but not limited to, debt service, loan agreements, and other contracts. (2) All remaining obligations have been previously listed on a ROPS and approved for payment by the DOF, pursuant to subdivision (m) or (o) of HSC Section 34177. (3) The successor agency is not a party to pending litigation, except as ' specified in subdivision (a)(3) of HSC Section 34191.6; and WHEREAS, the Successor Agency meets the above listed criteria and is eligible Resolution No. 25245 Page 2 to file a Last and Final ROPS with DOF; and ' WHEREAS, the attached Last and Final BOPS identifies each enforceable obligation on which payments will be required to be made by the Successor Agency from and after July 1, 2025, until its termination; and WHEREAS, HSC Section 341790 established the Riverside Countywide Oversight Board ("Oversight Board") in 2018; and WHEREAS, HSC Section 34191.6 requires the Oversight Board to approve the Last and Final ROPS prior to the Successor Agency submitting the Last and Final BOPS to DOE NOW, THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF PALM SPRINGS, ACTING SOLELY IN ITS CAPACITY AS THE SUCCESSOR AGENCY OF THE PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY, DOES HEREBY RESOLVE AS FOLLOWS: SECTION 1. The Recitals set forth above are true and correct and incorporated herein by reference. SECTION 2. The Successor Agency hereby approves and adopts the Last and Final ROPS, in substantially the form attached to this Resolution as Exhibit A, pursuant , to HSC Section 34191.6. SECTION 3. The City Manager is hereby authorized to take all actions necessary under the Dissolution Act to post the Last and Final BOPS on the Successor Agency website, transmit the Last and Final BOPS to the Auditor -Controller and the County Administrator of the County of Orange and DOF, submit the Last and Final ROPS to the Oversight Board, and to take any other actions necessary to ensure the approval and validity of the Last and Final BOPS and the validity of any enforceable obligation approved by the Successor Agency in this Resolution. In addition, the Successor Agency authorizes and directs the Successor Agency staff to make such non -substantive revisions to the Last and Final BOPS as may be necessary to submit the Last and Final ROPS in any modified form required by the Oversight Board or OOF, and the Last and Final BOPS as so modified shall thereupon constitute the Last and Final BOPS as approved by the Successor Agency pursuant to this Resolution. In addition, should the DOF make any changes to the Last and Final ROPS during its review process, the City Manager is authorized to agree to the changes as necessary. SECTION 6. In retaining the responsibilities of the Former Redevelopment Agency as provided in HSC Sections 34173 and 34176, the City Council expressly determines, reaffirms, and ratifies the statutory limitation on the City and the City Council's liability in retaining the responsibilities of the Former Redevelopment Agency pursuant to the , Dissolution Act. Nothing in this Resolution shall be construed as a commitment, obligation, or debt of the City or any resources, funds, or assets of the City to fund the City's service as the Successor Agency to the Palm Springs Community Redevelopment Resolution No. 25245 Page 3 Agency as provided in this Resolution. SECTION 7. This Resolution shall take effect immediately upon its adoption. ADOPTED THIS 12TH DAY OF SEPTEMBER 2024. ATTEST: Ayttc-" renda ree, City Clerk Scott C. Stiles, City Manager CERTIFICATION ' STATE OF CALIFORNIA) COUNTY OF RIVERSIDE ) ss. CITY OF PALM SPRINGS ) I, BRENDA PREE, City Clerk of the City of Palm Springs, hereby certify that Resolution No. 25245 is a full, true and correct copy, and was duly adopted at a regular meeting of the City Council of the City of Palm Springs on September 12, 2024, by the following vote: AYES: Councilmembers Garner, Holstege, Middleton; Mayor Pro Tern deHarte; and Mayor Bernstein NOES: None ABSENT: None ABSTAIN: None IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of Palm Springs, California, this 12th day of September 2024. 'Brenda Pree, MMC, CERA, City Clerk City of Palm Springs, California Resolution No. 25245 Page 4 EXHIBIT A ' LAST AND FINAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE Exhibit "A" Last and Final Recognized Obligation Payment Schedule (ROPS) - Summary Filed for the July 1, 2025 through June 30, 2035 Period ' Successor Agency: Palm Springs County: Riverside Initial ROPS 25-26A Period: Final ROPS Period: 34-35B Requested Funding for Enforceable Obligations 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 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 successor agency. /s/ Name Signature Total Outstanding Obligation $8,976 8,976 $24,572,277 24,185,285 386,992 $24,581,253 Title Date Palm Springs Last and Final Recognized Obligation Payment Schedule (ROPS) - Summary by ROPS Period July 1, 2025 through June 30, 2035 A Period July - December ROPS Period Fund Sources onth Siz�Toaltal t Bond Proceeds Other Funds RPTTF Admin RPTTF ¢ ¢ $65.954 $- $65.954 ROPS 25-26A - - 6,050 - 58,050 ROPS 26-27A - 6,655 $6,655 ROPS 27-25A 7,155 $7,155 ROPS 28-29A 7,155 $7,155 ROP52930A - - 6,655 - $6,655 ROPS 3031A - 7,321 - $7,321 ROPS3132A 7,321 $7,321 ROPS 3233A 8.071 - $8,071 ROPS 3334A 8,071 $8,071 BOPS 34-35A 1,500 $1,500 B PIN Jenury-June ROPS Period Fund Sources Six -Month Total TwalMonth Tot Total Bontl Prorsads Other Funds RPTTF Admin RPTTF ¢ $8,976 $24,119.331 $386,992 $24,5/5,299 $24,581,253 ROPS 25-26B 8,976 2,662,764 38,992 $2,710,732 $2,716,782 ROPS 26-27B - - 2,671.514 39,600 $2,711.114 $2,717,769 ROPS 27-288 2,672.789 39,900 $2.712.689 $2.719.844 RODS 28-2gB 2,679,264 40,700 $2.719.964 $2,727.119 RODS 29-M 2,665,888 41,000 $2,706,888 $2,713,543 ROPS30318 2.688,795 41,300 $2,730,095 $2,737,416 RODS 3132E 2.694.147 42,200 $2,736,347 43 $2,7,668 ROPS32-33BI 2,891,810 42,500 $2,734,360 $2,742.431 ROPS 33348 2,690 42,900 $2,733,710 $2,741,781 ROPS34358 1.5001 17,900 $19,400 $20,900 Palm Springs Meat and Final Racognlra l Obligation Payment Schedule (ROPS) - ROPS Detail July 1, 20251brough Jun. 30, 2035 (Report Amounts In Whole Dollars) A B C D E F B N I IProject kau OSIlgabon Type EpMutkn T YMtla1 Raga. Daaalplbn IF Ael T ppllpMbn Dab Dab INAMJN 3 =7 Taxeaa Tax Aibcat on Rohe, Bartle Issued 0n a Belaa O 18tMT 09'D1/2031 M Smk Merged Pmje,S1 Mspad 1 2W.1w saiesa 12nvro T ConbaC Saviors-FpaMi.l Fee OB1121N1008r3D2025 Hertel BCmgany Batls Dierbeua M W, M.rpd1/ N.950 A eisovs Marpad 2 B Contract Sarvke-Re0ab CalcMatlorl Fee OBVa20100W302025 W1ban Firuroal Batls Rebate Cons" SaM as Mage 11 I,WO Senka, Mwpd 2 9 Batl Tube Fee FaN wIfit Da 11,D111B3a 113Bank Banta Tattas Fee Mango 1/ gS,TW B6.gW 2 33 A6tIsWrMea Cok Alarms AdaAl Dpats 07MIMIS 0WWg➢31 CBy of Palm Owdaed Cast AllecetimSMaie Magmt/ MA00 Wnil, M. W 2 2W)Ta T.AW wBanta. t1W18D.W)09AlT 1.6131ank Reserve br September t Debt SaMw Ma9ad1 1.105,200 Seri® B M14SWwdirreb Tax Allopedon Bartle ROxvIrg Banta baud Wrt9lA14 CM)lI2031 US Bank RafaimN o12W1 ant 2001 Boob MelptlIt TBA875 A1br BZT/12 Ms9M 2 W14Sul dlab Tex Mloratlen Batlp Reerwe OW19R014(MHM3a US Bank Rose. for September l Debt Sarvlos Ysgsll/ 5.4N. S Me19M 2 Tt kRPYP Pmpar0aa Pmpany DiWoaWwu WMIMS 0BFA[W5 Vadss Ystlaa Caeb kr 0 sposdon of Apwxy H lamp"- ApMM.W FwOV. Cb V Megan/ - Coeb. Dralirg Sale Agraenanl MatgW 2 T3 201)TaxAbm5m 0.e1uMeg Bonds, Rdtnbq BUMS Wbad 1111YJg1) M11M,4 US Refirendrq 2W)SedeAButla ki.VWI 951,900 SanesA A 612)n2 T{ 2017Tax Albcatbn ReluMbg Bmtla, R.Mr.e 11/1 17 o90I)1IZ094 u3 Bank Reserve fW Septem0a 1 Dets Sanib Margo 1 10251,500 SseA TB 2017Taxats.Tax AMCBdon Relatlkg RaharMp Kalb bwM 11/15 17 OBp12031 US Bank RalwaW=7Sabatk a YspM2 29T= Batl..SabsB AIIk SQ)n2 M .YIt)Taxatse Tea Abplon RMwibp R 11/15201) 1AK)U 041 11S Bank Reerv. W Sspbn4a l DaM Sans. Mergad2 3,02ZM Batla. Santa B ooaoo©©oomm©©mom®©oo goo mmm mt�a®