r-536Redevelopment Agency Meeting 1 -24 -12 Santa Monica, California
RESOLUTION NUMBER 536 (RAS)
RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA
MONICA APPROVING AND ADOPTING THE AMENDED ENFORCEABLE
OBLIGATION PAYMENT SCHEDULE
WHEREAS, pursuant to the California Community Redevelopment Law (Health
and Safety Code Section 33000 et seq.) (the 'Redevelopment Law "), the City Council
of the City of Santa Monica (the "Council') adopted the Earthquake Recovery
Redevelopment Project by Ordinance No. 1747 (CCS) on June 21, 1994, the Downtown
Redevelopment Project by Ordinance No. 1021 (CCS) on January 13, 1976, the Ocean
Park 1A Project by Ordinance No. 497 (CCS) on June 30, 1960, and the Ocean Park 1B
Project by Ordinance No. 516 (CCS) on January 24, 1961 (collectively the
"Redevelopment Plans "); and
WHEREAS, the Redevelopment Agency of the City of Santa Monica
(the "Agency") is responsible for implementing the Redevelopment Plans pursuant to
the Redevelopment Law; and
WHEREAS, the California Legislature adopted, and the Governor signed, ABX1
26 (AB 26) and ABX1 27 (AB 27) into law; and
WHEREAS, in July 2011, California Redevelopment Agency v. Matosantos was
filed in the California Supreme Court, challenging the constitutionality of ABX1 26 and
ABX1 27, and on December 29, 2011, the Supreme Court issued its opinion in
Matosantos, upholding ABx1 26 and exercising its power of reformation to revise and
extend each effective date or deadline for performance of an obligation in part 1.85 of
division 24 of the Redevelopment Law, and invalidating ABx1 27; and,
WHEREAS, on August 23, 2011, pursuant to Section 34169(g) of the
Redevelopment Law, the Agency approved and adopted by Resolution No. 533 (RAS) the
Enforceable Obligation Payment Schedule to address the time period between August
through December, 2011; and,
WHEREAS, Section 34177(a)(1) of the Redevelopment Law, as reformed by the
California Supreme Court in Matosantos, provides that on or after February 1, 2012, and
until a Recognized Obligation Payment Schedule becomes operative, only payments
required pursuant to an enforceable obligations payment schedule shall be made; and,
WHEREAS, the Agency has prepared an amended Enforceable Obligation
Payment Schedule to address the time period between January 1, 2012 and June 30,
2012, attached as Exhibit 1 to this Resolution, and which sets forth all of the obligations
which the Agency has determined are enforceable obligations under the Redevelopment
Law: and
WHEREAS, the Agency does not intend, by adoption of this Resolution, to waive
any constitutional and /or legal rights by virtue of the adoption of this Resolution and,
therefore, reserves all of its rights under Laws to challenge the validity of any or all
provisions of AB 26 in any administrative or judicial proceeding and /or repeal this
resolution, without prejudice to the City's right to perform and enforce its enforceable
obligations; and
'r:
WHEREAS, under Title 14 of the California Code of Regulations, Section
15061(b)(3), the approval of the amended Enforceable Obligation Payment Schedule is
exempt from the requirements of the California Environmental Quality Act ( "CEQA "), in that
it is not a project as the adoption of the amended Enforceable Obligation Payment
Schedule will not have the potential of causing a significant environmental effect and it can
be seen with certainty that there is no possibility that the adoption of the amended
Enforceable Obligation Payment Schedule will have any significant effect on the
environment; and
WHEREAS, the Agency Board has reviewed and duly considered the amended
Enforceable Obligation Payment Schedule attached as Exhibit 1, documents, and other
written evidence presented at the meeting.
NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF
SANTA MONICA DOES RESOLVE AS FOLLOWS:
SECTION 1. The Agency hereby finds and determines that the foregoing recitals
are true and correct.
SECTION 2. The Agency hereby approves and adopts the amended Enforceable
Obligation Payment Schedule attached as Exhibit 1.
SECTION 3. The Agency Board authorizes the Agency's Executive Director or the
Executive Director's designee to:
(1) Post the Enforceable Obligation Payment Schedule on the Agency's and City's
Website.
3
(2) Designate an Agency representative to whom all questions related to the
Enforceable Obligation Payment Schedule can be directed.
(3) Transmit the Enforceable Obligation Payment Schedule by mail or electronic
means to the Los Angeles County Auditor - Controller, the State Controller, and
the State Department of Finance.
(4) Take such other actions and execute such other documents as are appropriate
to effectuate the intent of this Resolution and to implement the Enforceable
Obligation Payment Schedule on behalf of the Agency.
SECTION 4. The Secretary of the Agency shall certify the adoption of this
Resolution and thenceforth and thereafter the same shall be in full force and effect.
APPROVED AS TO FORM:
MAR HA JON S OUTRIE
Agency Counse
0
Exhibit 1
The Redevelopment Agency of the City of Santa Monica
All Project Areas -
AMENDED ENFORCEABLE OBLIGATION PAYMENT SCHEDULE
Six Months Ended June 30, 2012
Per AB 26
Page 1 of 3
Payments by month
Project Name! Debt
Obligation
Project Area
Payee
Description
Jan Feb March April May June Total
1)
Arizona and 4th Notes
Earthquake
Spurgin at al
Property acquisition
1,697,440.00
-
-
-
-
-
1,697,440.00
Payable
2)
Wells Fargo Term Loan
Earthquake
Wells Fargo
Public uses, including affordable
4,363,807.00
81,096.42
81,096.42
81,096.42
81,096.42
4,438,696.42
9,127,089.10
housing
3)
2011 Earthquake RDA
Earthquake
Union Bank
Public uses, including affordable
1,131,000.00
-
-
-
-
1,131,000.00
2,262,000,00
Bonds
housin
4)
2011 Earthquake RDA
Earthquake
Union
2D11 Earthquake RDA Bonds -
565,500.00
-
-
-
-
-
565,500.00
Bonds Reserves
Bank/Reserves
Reserves
5)
2006 Earthquake RDA
Earthquake
Mellon Bank
Property acquisition and improvements
1,113,646.88
-
-
-
-
1,113,646.86
2,227,293.76
Series A Bonds
5)
2006 Earthquake RDA
Earthquake
Mellon Bank
Property acquisition and improvements
110,137.50
-
-
-
-
2,115,137.50
2,225,275.00
Series B Bonds
7)
2006 Earthquake Bond
Earthquake
Mellon
2006 Earthquake RDA Series A
556,823.44
-
-
-
-
-
556,823.44
Payment Reserves
Bank/Reserves
Reserves
8)
2006 Earthquake Bond
Earthquake
Mellon
2006 Earthquake RDA Series B Bond
556,318.75
-
-
-
-
-
556,318.75
Payment Reserves
Bank/Reserves
Reserves
9)
2002 Ocean Park Bonds
Ocean Park
Mellon Bank
Property acquisition and development,
249,005.00
-
-
-
-
1,499,005.00
1,748,010.00
including affordable housing
10)
2002 Ocean Park Bond
Ocean Park
Mellon
2002 Earthquake RDA Bonds
1,695,919.00
-
-
-
-
-
1,695,919.00
Pa ment Reserves
Bank/Reserves
Reserves Per Indenture
11)
Bank of America Line of
Earthquake
Bank ofAmenca
Affordable Housing Development
2,300,000.00
-
-
-
-
2,300,000.00
4,600,000.00
Credit
12)
Civic Center Joint Use
Earthquake
Santa Monica
Civic Center Joint Use Project
-
5,849,344.OD
-
-
-
5,865,000.00
11,714,344.00
Agreement
Malibu School
District
13)
Promissory Notes: 2003
Earthquake
Parking Authority
Promissory Note
2,549,837.50.
-
-
-
-
-
2,549,837.50
Parking Structures 1-6
Acquisition
14)
Promissory Notes: 2003
Earthquake
Parking Authority
Promissory Note B
1,120,600.00
-
-
-
-
-
1,120,600.00
Parking Structures 1 -6
Ac uisition
15)
Property-Based Assessment
Earthquake
Downtown Santa
Assessment Fees for Agency Property
-
-
-
257,099.00
-
257,099.00
District
Monica, Inc.
in Property -Based Assessment District
15)
Housing Loan payment for
All
Community
Loan Payment- Low/Mod Housing
-
-
200,000.00
200,000:00
200,000.00
200,000.00
800,000.00
contract 1438 25th Street
Corporation of
Santa Monica
17)
Housing Loan payment for
All
Community
Loan Payment- Low /Mod Housing
-
-
-
-
-
-
-
contract 1943 High Place
Corporation of
East
Santa Monica
18)
Housing Loan payment for
All
Community
Loan Payment- Low /Mod Housing
-
-
1,DOO,000.00
1,000,000.00
1,000,000.00
3,000,000.00
contract 430 Pico Blvd
Corporation of
Santa Monica
19)
Housing Loan payment for
All
Community
Loan Payment- Low/Mod Housing
1,D00,000.00
1,000,000.00
1,000,000.00
975,705.00
-
-
3,978,705.00
contract 2802 Pico Blvd
Corporation of
Santa Monica
20)
Housing Loan payment for
All
FAME
Loan Payment- Low /Mod Housing
-
1,500,000.00
600,D00.00
600,000.00
600,000.00
60D,OD0.D0
3,900,000.00
contract 1754 19th St
Page 1 of 3
Page 2 of 3
Payments by month
Project Name / Debt
Obligation
Project Area
Payee
Description
Jan Feb March April May June Total
21)
Housing Loan payment for
All
Step Up on Second
Loan Payment- Low /Mod Housing
-
-
-
-
-
-
contract 520 Colorado Blvd
22)
Housing Loan payment for
All
Community
Housing Payment -Low / Mod Housing
-
-
-
-
-
-
contract 1616 Ocean Ave
Corporation of
Santa Monica
23)
Affordable Housing
Earthquake
Housing Authority
Agreement to Perform Affordable
1,278,283.33
1,278,283.33
1,278,283.33
1,278,283.33
1,278,283.33
.2,278,283.33
5,669,699.98
Agreement
Housing Functions and O erations
24)
Contract (8181)
Earthquake
Parking Authority
Seismic retrofit /rehabilitation Parking
100,000.00
100,000.00
100,000.00
100,0010D
100,000.00
100,000.00
600,000.00
structures 1 -6
25)
Cooperation Agreement
Earthquake
ICON West
Parking Structure 2 seismic retrofit
-
$214,338.93
-
-
-
-
214,338.93
9190
26)
Cooperation Agreement
Earthquake
W.E O'Neil
Freeway bridging and capping
-
-
-
-
-
-
-
9233
27)
Cooperation Agreement
Earthquake
Koning Eizenberg
Pico Library
42,000.00
18,000.00
18,000.00
16,000.00
18,000.00
15,000.00
129,000.00
9236
Architecture
28)
Cooperation Agreement
Earthquake
Cityworks Design
EXPO Light Rail
-
18,001.72
-
-
-
-
18,001.72
9236
29)
Cooperation Agreement
Earthquake
Strategic Advisory
Civic Auditorium
1,666.67
1,666.67
1,666.67
1,666.67
1,666.67
1,666.67
10,000.02
9236
Grou
30
Contract 9395 OS
Earthquake
WE O'Neil
Palisades Garden Walk
217,424.00
217,424.00
2.120,062.00
2,035,052.00
2,042,552.00
2,042,552.00
B 675,066.D0
31)
Expo Match
Earthquake
The Exposition Metro
Required Expo Light Rail Match
16,50D,000.00
-
-
-
-
-
16,500,000.00
Line Construction
Authority
32)
Expo Betterments
Earthquake
The Exposition Metro
Bergamot & Memorial
9,100,000.00
-
-
-
-
-
9,100,000.00
Line Construction
-
Authority
33)
Expo Betterments
Earthquake
The Exposition Metro
Downtown
8,400,D00.00
-
-
-
-
-
8,400,000.00
Line Construction
Author'
34)
Civic Auditorium
Earthquake
Morley Construction
Design -Build Contract
-
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
5,000,000.00
35)
Civic Center Planning and
Earthquake
AECOM,Gibson &
Civic Center
10,866.00
30,866.00
80,866.00
80,866.00
80,866.00
80,866.00
365,196.00
Design
Dunn
36)
Downtown Parking
Earthquake
Allan Kotin Assoc. &
EDD Consultants
3,000.00
5,000.00
1D,00.00
15,000.00
20,D00.00
53,000.00
Enhancement
Keyser Marston
Assoc.
37)
Percent for Art
Earthquake
Migo Manglano-
Public Art Fabrication
-
101,246.00
198,090.D0
-
-
-
299,336.00
Ovalle
38)
Loan Payment- Low /Mod
Earthquake
Goldenwest Homes
With View Mobile Home Park Unit
3,000,OOO.DO
15,000.00
2,015,000.00
15,000.00
2,005,395.00
6,395.00
7,057,790.00
Housing
and Keyser Marston
Replacement Financing Program
39)
Expo Light Rail
Earthquake
The Expos ion Metro
Expo Light Rail Enhancements
450,000.00
-
-
-
-
-
450,000.00
Enhancements
Line Construction
Authority
40)
20th & Cloverfield
Earthquake
Ahbe Landscape
Streetscape Construction
499,572.00
499,572.00
Architects
41)
RDA Administration Costs
All
Successor Agency"
FY2011- 125 %Tl Administration
-
766,970.00
766,970.00
766,970.00
766,970.00
766,970.00
3,834,850.00
Costs
42)
Successor Agency Oversight
All -
Successor Agency'
Oversight Board Meeting Costs —
-
83,333.33
83,333.33
63,333.33
83,333.33
83,333.33
416,666.65
Board Costs
43)
Promissory Notes Payable
Downtown
City of Santa
Downtown property acquisition
-
-
-
-
-
1,714,OOD.00
1,714,000.0D
Monica
Page 2 of 3
"City of Santa Monica has elected to be designated as the Successor Agency.
"Listed expenditures are estimates based upon estimated information after Feb.1
" These amounts may be adjusted pending the final outcome of the LAUSD Case
* —These amounts will be paid upon resolution of the LAUSD case
Page 3 cf 3
Payments by month
Project Name / Debt
-
Obligation
Project Area
Payee
Description
Jan Feb March April May June Total
44)
AB1290 Statutory Pass -
LA County General
Through Payment
Earthquake
Fund
AB1290 EQ Jam—
387171.37
387171.37
45)
AB1290 Statutory Pass -
LA County General
Through Payment
Downtown
Fund
A31290 DT Jan " ""
9,502.95
-
9.802.95
46)
Various Taxing
FY 11 -12 Pass-Through Est.
Earthquake
Entities
Pass-Through Est. Tier 1 EQ
744,199.65
744,199.65
47)
Various Taxing
FY 11 -12 Pass Throu h Est.
Downtown
Entities
Pass- Through Est. Tier 1 DT
33 164.19
33,164.19
48)
Various Taxing
FY 11 -12 Pass -Throu h Est.
Earthquake
Entities
Pass-Through Est. Tier 2 EQ
223,259.90
223 259.90
49
ERAF
lEarthquake
ILA County
ERAF....
1202.545.53
1.202545.53
50
ERAF Impound
Earthquake
ILA County
JERAF Impound*
2,789,149.59
2,769,149.59
"City of Santa Monica has elected to be designated as the Successor Agency.
"Listed expenditures are estimates based upon estimated information after Feb.1
" These amounts may be adjusted pending the final outcome of the LAUSD Case
* —These amounts will be paid upon resolution of the LAUSD case
Page 3 cf 3
Adopted and approved this the 24th day of January, 2012.
i
Ri&bard Bloom, Chair
1, Denise Anderson - Warren, Acting City Clerk of Santa Monica, do hereby certify
that the foregoing Resolution No. 536 (RAS) was duly adopted at a meeting of the
Redevelopment Agency held on the 20' day of January, 2012, by the following vote:
Ayes: Agency members:
Noes: Agency members:
Absent: Agency members:
Holbrook, McKeown, O'Day, Shriver
Chair Pro Tern Davis, Chair Bloom
None
O'Connor
ATTEST:
Denise Anderson - Warren, Agency Secretary