r-11 saSuccessor Agency Meeting: February 12, 2013 Santa Monica, California
RESOLUTION NO. --1-11 (SA)
A RESOLUTION OF THE SANTA MONICA REDEVELOPMENT SUCCESSOR
AGENCY APPROVING AND ADOPTING THE RECOGNIZED OBLIGATION PAYMENT
SCHEDULE FOR JULY 2013 — DECEMBER 2013
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 California Legislature adopted, and the Governor signed, Assembly Bill
Nos. 26 and 27 (2011 -2012 1s` Ex. Sess.) enacted as Stats. 2011, 1s' Ex. Sess. 2011 -2012, chs.
5 -6 (hereinafter AB 26 and 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 AB 26 and AB 27, and on
December 29, 2011, the Supreme Court issued its opinion in Matosantos, upholding AB 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 AB 27; and
WHEREAS, the City of Santa Monica is the designated Successor Agency of the
Redevelopment Agency of the City of Santa Monica, within the meaning of AB 26; and
1
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, Section 34177(a)(3) of the Redevelopment Law, as reformed by the
California Supreme Court in Matosantos, provides that commencing on May 1, 2012, only those
payments listed in a Recognized Obligation Payment Schedule may be made by the Successor
Agency from the funds specified in the Recognized Obligation Payment Schedule; and
WHEREAS, the California Legislature adopted, and the Governor signed, Assembly Bill
No. 1484 enacted as Stats. 2012, ch. 25 (hereinafter AB 1484) into law; and
WHEREAS, AB 1484, requires the Santa Monica Redevelopment Successor Agency to
submit to the Los Angeles County Auditor - Controller the ROPS for the period ending December
31, 2013, for its review before approval by the Oversight Board; and
WHEREAS, AB 1484, requires the Santa Monica Redevelopment Successor Agency to
submit to the State of California Department of Finance the ROPS for the period ending
December 31, 2013, which has to be approved by the Oversight Board, no later than March 1,
2013; and
WHEREAS, under Title 14 of the California Code of Regulations, Section 15061(b)(3),
the approval of a Recognized 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 a
Recognized 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 Recognized Obligation Payment Schedule will have any significant effect on the
RI
environment; and
WHEREAS, the Successor Agency has reviewed and duly considered the Recognized
Obligation Payment Schedule for the period July 2013 — December 2013, inclusive, attached as
Exhibit 1, and other written evidence presented at the meeting, if any.
NOW, THEREFORE, THE SUCCESSOR AGENCY DOES RESOLVE AS FOLLOWS:
SECTION 1. The Successor Agency hereby finds and determines that the foregoing
recitals are true and correct.
SECTION 2. The Successor Agency hereby approves and adopts the draft
Recognized Obligation Payment Schedule for the period July 2013 — December 2013, inclusive,
attached as Exhibit 1 (referenced hereinafter as 'the Recognized Obligation Payment
Schedule ").
SECTION 3. The Successor Agency authorizes the Chief Administrative Officer or his
designee to:
(1) Submit the Recognized Obligation Payment Schedule to the County Auditor-
Controller for review;
(2) Submit the Recognized Obligation Payment Schedule to the Oversight Board for
approval;
(3) Submit an electronic copy of the Recognized Enforceable Obligation Payment
Schedule to the State Department of Finance for approval;
(4) Designate a Successor Agency representative to respond to all questions related to
the Recognized Obligation Payment Schedule; and
3
(5) Take such other actions and execute such other documents as are appropriate to
effectuate the intent of this Resolution and to implement the Recognized Obligation
Payment Schedule on behalf of the Successor Agency.
SECTION 4. The Secretary of the Successor 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:
-- lLrAA:cs.
MAR HA JON S fJOUTRI L
Succes orAgen Counsel
CI
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SANTA MONICA (LOS ANGELES)
RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS 13- 14A) -- Notes (Optional)
July 1, 2013 through December 31, 2013
hemp
Project Name/ Debt Obligation
Notes /Comments
1
2011 Earthquake RDA Bonds__
2
2006 Earthquake RDA Series A Bonds
3
2006 Earthquake RDA Series B Bonds
4
2002 Ocean Park Bond
5
2011 Earthquake RDA Bond, (Reserve)
2002 Ocean Park Bond(Reserod
2
2002 Ocean Park Bond Plan Limit Special
Fund (Reserve(
8
2002 Ocean Park Bond- Plan Limit Special
Fund
9
1981 COBG Promissory Note
_
This item has been denied by the Department of Finance, the SUcescor Agency does not waive any of its constitutional, statute , legal, or equitable rights to contest
this determination by issoan. of this ROPS
10
1983 CDOG Promissory Note
This Item has been denied by the Department of Finance, the 5ucessor Agency does not waive any of its constitutional, statutory, legal, or equitable rights to contest
this determination by issuance of this BOPS
11
_
Collective Bargaining Units (EPP, META,
ATA, MEA) Costs
_
12
Wells Fargo Term Lean
13
Bank of America Term Loan
14
Civic Center J-lCut Use Agree meut
This item has been denied by the Department of Fin anIs, the 5ucessor Agency do as not welve any o fIt, eus run if. na1, star tutory, legal, or equ itable Lights to contest
this determination by issuance of this ROPS
15
Ocean Park Lease
This item has been denied by the Department of Finance, the 5ucessor Agency does not waive any of its constitutional ,statutory, legal, or equitable rights to contest
this determination by issuance of this HOPS
16
1928 Promissory Notes
This item has been denied by the Department of Finance, the 5ucessor Agency does not waive any of its constitu tional, statutory, legal, or equitable rights to contest
this determination by Issuance of this ROPS
D
2003 Promissory We
18
2003 Pmrpinory, No. B
19
1959 High Place (High Place East)
20
FAME (1754 19th Sh1753 Inch St/1924 -30
Euclid)
This it em has been denied by the Department of Finance, however, it is subject to litigation (SUpedor Case No 34- 2013- 80001382.CU- WM- GDS)and has been
added back to the bottom of this schedule.
21
1942 High Place( High Place West)
This Item has been denied by the Department of Finance, how..,itl, subject to litigation (Spiced., Case No. 34 -2013- 80001382 -C - Well -GDS and has been
added back to the bottom of this schedule.
_
22
520 Colorado Ave,
This Item has been denied by the Department of Finance, hmveveq it is subject to litigation (Superior Use No. 34- 2013- BOOD1392 -CU -WM GDS ) and has been
added bad to the bottom of this schedule.
23
Law Mod Housing for Seniors
This item has been denied by the Department of Finance, the Sure,-, Agency does not waive any of its constitutional, statutory, legal, or equitable rights to Contest
this determination by issuance of this ROES
24
Arizona and 4th Notes
25
Successor Agency and Oversight Beard
legal services
26
Successor Agency financial services and
,repent
22
Sauce ss -r Agencyappralsaiservices
28
Successor Agency Employee Contractual
Obligations
29
Successor Housing Agency Administrative
Costs
This item has been denied by the Department of Finance, however, It is subject to litigation (Superior Case No 342013- 80001382 -CU WM GDS) and has been
added back to the bottom of this schedule.
30
Successor Administrative COSt Allowance
31
Litigation Service Fees
UOgation Services associated with items 2022 and 29.
32
Sucessor Agency Office Space Rental
Expenses
Rental fees for Successor Agency office space associated with an existing lease per HSC 34162(d)(5)
20
FAME (1754 19th Sl /125318th St/1924 -30
Euclid)
This Item has been denied bythe DepartmentofFinance,however,it is subject to litigation (Superior Case NO. 34- 2013- SO0D1382 -CU -WM 605) and has been
added back to this schedule. $1,882,143 of amount shown has been carried over from the ROPS 3 period flan. 2013dune 2013). The remaining amount shown
($4,351,203) Is scheduled to he disbursed to the developer during the ROP54 period (July -Dec 2013).
211942
High Place( High Place West)
This Item has been denied by the Department of Finance, however, It 1, to Hostion(Superior Case No 34 2013 80001382 CU WM GUS) and has been
added back to this schedule. Total amount shown has been carried over from the HOPS 3 period (Jan. 2013 -June 2013).
___
22
520 Colorado Ave.
This item has been denied by the Department of Finance, however, it is spider( to litigation (Superior Case No. 34- 2013 - 80001382 -CU -WM COS) and has been
added back to this schedule. $399,900 of total amount shown is carried over from the HOPS period (fart 2013 lure 2013). The remaining balance of $2,069,219
B scheduled to be disbursed to the deyelope,during the ROP54 period puly -Dec 2013).
29
Successor Housing Agency Administrative
Costs
This item has been denied by the Department of Finance, however, it is subject to litigation(SUperi -r Case No. 342013 - 80001382- CU- WM- GDS)and has been
added back to this schedule. $1,005,211 of total amount shown has been carried over from the HOPS 3 period (Jan. 2013 -tune 2013). The remaining balance Of
$535,264 is due and payable during the ROPS4 period (luly -Dec 2013).
Adopted and approved this 12th day of Februar)
I, Sarah Gorman, Agency Secretary of the City of Santa Monica, do hereby
certify that the foregoing Resolution No. 11 (SA) was duly adopted at the meeting of the
Santa Monica Redevelopment Successor Agency held on the 12th day of February
2013, by the following vote:
Ayes: Agency members: Holbrook, McKeown, Vazquez, Winterer
Acting Chair Davis
Noes: Agency members:
Absent: Agency members: O'Connor, O'Day
ATTEST:
Sarah Gorman, Agency Secretary