OB - 2013-0001 - Approving the Recognized Obligation Payment Schedules for the Period of July 1, 2013 Through December 31, 2013RESOLUTION: 2013 -0001
A RESOLUTION OF THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY
TO THE ROSEMEAD COMMUNITY DEVELOPMENT COMMISSION APPROVING
THE RECOGNIZED OBLIGATION PAYMENT SCHEDULES FOR THE PERIOD OF
JULY 1, 2013 THROUGH DECEMBER 31, 2013
WHEREAS, California Health and Safety Code section 34179 requires that each
Successor Agency have an Oversight Board; and
WHEREAS, Section 34177 requires each Successor Agency to prepare a draft
Recognized Obligation Payment Schedule ( "ROPS ") and section 34180 requires the Oversight
Board to approve same; and
WHEREAS, Section 34177 provides that each ROPS shall be forward looking to the
next six months; and
WHEREAS, section 34177 requires that the ROPS be transmitted to the County
Auditor - Controller, the State Controller and the State Department of Finance; and
WHEREAS, notwithstanding the sequencing contemplated in section 34177, the
Department of Finance is requesting the ROPS be considered by the Oversight Board and
transmitted as soon as possible; and
WHEREAS, the County will not make any payments of property taxes to the Successor
Agency for use in payment of the obligations listed on the ROPS until the ROPS has been
approved by the Oversight Board. Any delay in such payment could impair the Successor
Agency's ability to make payments for the enforceable obligations; and
WHEREAS, the Successor Agency prepared a draft ROPS for the period July 1, 2013
through December 31, 2013 is attached hereto as Exhibit A.
NOW THEREFORE, THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY
TO ROSEMEAD COMMUNITY DEVELOPMENT COMMISSION HEREBY RESOLVES:
1. The ROPS for the period July 1, 2013 through December 31, 2013 attached hereto
as Exhibit A is hereby approved.
2. Successor Agency staff is directed to provide a copy of this Resolution along with
the approved ROPS to the County Auditor - Controller, the State Controller's Office
and the State Department of Finance.
PASSED, APPROVED AND ADOPTED this 11th day of February 2013.
4� - - JZA)4gz--
Chairperson
ATTEST:
Matth Iry E. Ha I esworth
Successor Agency Staff
Assistant City Manager
I HEREBY CERTIFY that the above and foregoing resolution was duly passed and adopted by
the Oversight Board for the Successor Agency to the Rosemead Community Development
Commission at its special meeting held on the 11th day of February 2013, by the following vote,
to wit:
AYES:
NOES:
ABSENT:
ABSTAINED:
Matth w E. HhAesworth
Successor Agency Staff
Assistant City Manager
SUCCESSOR AGENCY CONTACT INFORMATION
Successor Agency
ID: 139
County: Los Angeles
Successor Agency: Rosemead
Primary Contact
Honorific (Ms, Mr, Mrs)
First Name
Last Name
Title
Matthew
Hawkesworth
Assistant City Manager
Address
8838 E Valley Blvd
City
t ROSEMEAD
State
� CA
Zip
1 - - - - --
Phone Number
626 -569 -2107
Email Address
mhawkesworth @cityofrosemead.org
Secondary Contact
Honorific (Ms, Mr, Mrs)
First Name
Last Name
Title
Phone Number
Email Address
Gloria
Molleda
City Clerk
626 -569 -2171
gmolleda@cityofrosemead.org
a
O
d
m
0
N
H
m
`w
a
E
v
V
W
p
O
m
0
N
•i
T
v
L
O
N
H
J
Z
O
O
w
O
LL'
n
m
N
u
O
d
E
Z
W
C
O
Q
0
N
p
v
N
J
O
0
r
O
m
O
O
a
D
c
C
bm
m
C
a
C
J
LL
LL LL
a LL
v k a
U y
c 3 a
¢ a v
m 9 c p
L C LL II
r J
N LL v u
L V }
C C m
O Q N
a m o v
m
.o
m
Q w Q I-
c
O
O
`o
a
p
'v
Y
J
m
O
a
C
J
U
EO N
C �
'a
c O
J 3
LL O
LL _
Q
a k
6
'o a
Y �
2
c
¢ OO
S C
c U ^,
0
� u
X p
in
N v
O �
r c
`v L
w j
Q m u p w LL
Y
I
}
a
C
J
LL
y LL Y
E
C N
L
Y
3 v
K
a �
w m O
k a
a
L � Q
3 Q y J
-p W N II
a >
_m - O
9 a 0
O ¢ O O
j j C C
a a E E
w w Q ¢
S - - Y �
E
z
E
L
u
N
m
m
W
O
0
a
u
U
J
F
m
T
C
W
a
E
N
C
N
O
v
W
N
E
a
0
m
N
O N V1 tD
tp
O
ID
tD
VI
O
1p
N
IA O m m
m 'O
m
M
m
M
O
V}
m
m
n n e}
v
o
a
m
l w
In
a
ri
vi n ni
M
ry
ri
ui
vi
ai
m
.y _
N A
m .+ ..
.�
m
r
o
r
p
X
UI
a
O
d
m
0
N
H
m
`w
a
E
v
V
W
p
O
m
0
N
•i
T
v
L
O
N
H
J
Z
O
O
w
O
LL'
n
m
N
u
O
d
E
Z
W
C
O
Q
0
N
p
v
N
J
O
0
r
O
m
O
O
a
D
c
C
bm
m
C
a
C
J
LL
LL LL
a LL
v k a
U y
c 3 a
¢ a v
m 9 c p
L C LL II
r J
N LL v u
L V }
C C m
O Q N
a m o v
m
.o
m
Q w Q I-
c
O
O
`o
a
p
'v
Y
J
m
O
a
C
J
U
EO N
C �
'a
c O
J 3
LL O
LL _
Q
a k
6
'o a
Y �
2
c
¢ OO
S C
c U ^,
0
� u
X p
in
N v
O �
r c
`v L
w j
Q m u p w LL
Y
I
}
a
C
J
LL
y LL Y
E
C N
L
Y
3 v
K
a �
w m O
k a
a
L � Q
3 Q y J
-p W N II
a >
_m - O
9 a 0
O ¢ O O
j j C C
a a E E
w w Q ¢
S - - Y �
E
z
E
L
u
N
m
m
W
O
0
a
u
U
J
F
m
T
C
W
a
E
N
C
N
O
v
W
N
E
a
0
m
ROSEMEAD SUCCESSOR
AGENCY STAFF REPORT
TO: THE HONORABLE CHAIR AND BOARD MEMBERS
FROM: MATTHEW HAWKESWORTH, ASSISTANT CITY MANAGER
DATE: FEBRUARY 11, 2013
SUBJECT: ROPS SUBMITTAL —JULY THROUGH DECEMBER 2013
SUMMARY
The Department of Finance (DOF) requires that the Recognized Obligation Payment
Schedule (ROPS) for the July through December 2013 be submitted by March 1, 2013.
As with every previous ROPS, the layout and format of the schedules has been modified
slightly, and the schedules may look slightly different.
The new ROPS document now includes a contact information page, a summary page, a
notes page, a schedule for the current ROPS period and a reconciliation page. The
summary page provides a total of all outstanding obligations, a summary of current
obligations and a reconciliation summary of the prior period of July through December
2012. Additionally, this page of the document better reflects the current period obligations
against the projected funding for the period. During the same six month period in the
previous fiscal year, the Successor Agency was underfunded by approximately $523,000
and due to the DOF's decision to fund all the Senior Housing related obligations from
Real Property Tax Trust Fund (RPTTF) and not the Low and Moderate Income Housing
Fund, the shortfall for the period is now projected at approximately $811,000. This
amount should be recouped in the second six month period of the year when the
obligations for debt service are less and the shortfall payment can be repaid.
The notes page has been modified slightly and the DOF has provided instructions on
exactly what type of information should be included on the notes. The reconciliation
worksheet has also been changed so that it only includes those obligations in which
payments were made and the Item Number is carried forward from the original ROPS in
which it was approved. Printed copies of the entire new ROPS document have been
included with this report for approval by the Board.
Staff Recommendation:
That the Oversight Board approve Resolution 2013 -0001 approving the ROPS for the
period of July through December 2013.
ITEM NO. 3N
Rosemead Successor Agency Oversight Board
February 11, 2013
Page 2 of 2
PUBLIC NOTICE PROCESS
This item has been noticed through the regular agenda notification process in accordance
with the Brown Act.
Prepared by:
Matthew E. Hawkesworth
Assistant City Manager
Attachments: Resolution 2013 -0001