SUC - 2023-01 - Community Development Commission Approving The Recognized Obligation Payment Schedules for the Period of July 1, 2024 Through June 30, 2025RESOLUTION NO. 2023-01 SA
A RESOLUTION OF THE SUCCESSOR AGENCY TO THE ROSEMEAD
COMMUNITY DEVELOPMENT COMMISSION APPROVING THE
RECOGNIZED OBLIGATION PAYMENT SCHEDULES FOR THE
PERIOD OF JULY 1, 2024 THROUGH JUNE 30, 2025
WHEREAS, pursuant to California Health and Safety Code Section 34179 (q),
commencing on and after July 1, 2018, the County of Los Angeles shall have five consolidated
oversight boards encompassing five supervisorial districts;
WHEREAS, the First Supervisorial District Consolidated Oversight Board (Oversight
Board) has jurisdiction over the Successor Agency to the Former Redevelopment Agency to the
City of Rosemead;
WHEREAS, Section 34177 requires each Successor Agency to prepare a draft
Recognized Obligation Payment Schedule (ROPS) and section 34180 requires the First
Supervisorial District Consolidated Oversight Board to approve same;
WHEREAS, Section 34177 provides that each ROPS shall be forward looking to the
next full year;
WHEREAS, Section 34177 requires that the ROPS be transmitted to the County
Auditor -Controller, the State Controller and the State Department of Finance;
WHEREAS, notwithstanding the sequencing contemplated in section 34177, the
Department of Finance (DOF) is requesting the ROPS be considered by the Oversight Board and
transmitted to the DOF no later than February 1, 2024;
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 payment could impair the Successor Agency's
ability to make payments for the enforceable obligations; and
WHEREAS, the Successor Agency prepared draft ROPS for the period July 1, 2024
through June 30, 2025 is attached hereto.
NOW THEREFORE, THE SUCCESSOR AGENCY TO THE ROSEMEAD
COMMUNITY -DEVELOPMENT COMMISSION HEREBY RESOLVES:
1. The ROPS for the period July 1, 2024 through June 30, 2025 attached hereto is
hereby approved.
2. Successor Agency staff is directed to provide to the First Supervisorial District
Consolidated Oversight Board (a) a copy of this Resolution along with (b) the
Successor Agency approved ROPS and (c) a Resolution for the Oversight Board
to approve.
PASSED, APPROVED AND ADOPTED this 12th day of December 2023.
APPROVED AS TO FORM:
zd/zd/Y��
Rachel Richman, Successor Agency Attorney
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES) §
CITY OF ROSEMEAD )
*;_7
Steven Ly, Chairperson
ATTEST:
Ericka Hernandez, Successor Agency Clerk -
I, Ericka Hernandez, Successor Agency Clerk to the Rosemead Community Development
Commission of the City of Rosemead, California, do hereby certify that the foregoing
Successor Agency Resolution No. 2023-01 SA was duly adopted by the Board of the Successor
Agency, at a special meeting thereof held on the 12'h day of December, 2023, by the following
vote, to wit:
AYES: ARMENTA, CLARK, DANG, LOW, LY
NOES:
NONE
ABSENT:
NONE
ABSTAIN:
NONE
Ericka Hernandez, Str6cessor Agency Clerk
Recognized Obligation Payment Schedule (ROPS 24-25) - Summary
Filed for the July 1, 2024 through June 30, 2025 Period
Successor Agency: Rosemead
County: Los Angeles
Current Period Requested Funding for Enforceable
Obligations (ROPS Detail)
A Enforceable Obligations Funded as Follows (B+C+D)
B Bond Proceeds
C Reserve Balance
D Other Funds
E Redevelopment Property Tax Trust Fund (RPTTF) (F+G)
F RPTTF
G Administrative RPTTF
H Current Period Enforceable Obligations (A+E)
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.
24-25A Total 24-25B Total ROPS 24-25
(July - (January - Total
December) June)
Name Title
/s/ A��D
Sighature Date
$ 2,166,492 $
388,025
$ 2,554,517
2,101,092
65,400
322,625
65,400
2,423,717
130,800
$ 2,166,492 $
388,025
$ 2,554,517
Name Title
/s/ A��D
Sighature Date
Rosemead
Recognized Obligation Payment Schedule (BOPS 26-25) - ROPS Detail
July 1, 2021 through June 50, 2025
A
B
C
D
E
F
G
H
I
J
K
L M N 0 P
0
R S T U V
W
BOPS 21338 (Jul -pep)
Item
Obliatian
g
Agreement
Agreement
P
Total
ROPS
24338
FUM Sourad.
24253
Fund Sources
P
Purled Name
Typa
Execut o
Tormiu on
Payee
Description
Area
Outstanding
Retrad
2425
T°tal
TeM1I
Bond
Reserve
gtrer
RPTTF
Admin
Bond
Reserve
gher
RPTTF
Atlmin
Ome
Date
Obligation
Total
Proceeds
Bolan.
Funds
RPTTF
Procands
Balance
Funds
Pori
$21.910.992
32,554,511
L
L
i
321101092
365,400
$2,161
3
2010 Tax
Bonds Issued
06,291
1201/2023
US Bank
T.
Melted
-
Y
Increment
On or Before
2010
increment
Bonds
iv31110
Bond Data
S.M.
24
Senior
Mbcellaneous
06/11
12/31/2017
RoaemeM
Cast to unser
Malted
199,991
N
$199.991
-
199,981
-
5199.991
-
-
-
-
S -
Housing
2002
Housing
shomall
ShaMall
Development
beresen
Subsidy-
Comvadon
rent. and
Angelus
opari
maintenance
21
Sensor
Miscellaneous
08/11
12312051
Rwemead
Castow.er
Merged
302351
N
3302,351
302351
-
5302351
Housing
2002
House,
aMMell
Shormot
OmelopmeM
beMnen
Subsidy-
Corporation
rents and
Garvey
O'nstdw
maintenance
34
Administrative
Admin Costs
011011
1013112051
City of
Administrative
Meryed
2,250,000
N
5130,800
-
-
65,400
355,400
-
-
65,400
565,400
Goat
2014
Runaround
Cost
Moreau.
Allomece
35
M16
Bands Issued
12141
1010112033
US Bank
Tax
19.186,850
N
$1,921.315
-
1,591
-
S1,598,150
-
-
322.625
-
3322,825
SUMmire a
Aher 12Y31I10
2016
IncreasedTax
Albuntion
Bond Data
Bonds
Service
Rosemead
Recognized Obligation Payment Schedule (ROPS 24.25) - Report of Cash Balances
July 1, 2021 through June 30, 2022
(Report Amounts in Whole Dollars)
Pursuant to Health and Safety Code section 34177 (1), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other
funding source is available or when payment from property tax revenues is required by an enforceable obligation.
A B
C D E F G
R
Fund Sources
Bond Proceeds
Reserve Balance
Other Punch RPTTF
Prior ROPS
ROPS 21-22 Cash Balances
Rand
Comments
(07101121 -05/30122)
Bonds issued
Bonds issued
ResePTTFrve
Reserve
Rent, grants, Non -Admin
or before
on or after
Balanceretained
interest, etc. and Admin
12131/10
01/01/11
for future
pedod(s)
1 Beginning Available Cash Balance (Actual 07/01/21)
1,123,DDO
-
H4 is reserve fund held by bond Trustee
RPTTF amount should exclude "A" period distribution
bank.
amount.
2 Revenue0ncome (Actua10W3022)
4,059,495
RPTTF amount should tie to the ROPS 21-22 total
distribution from the County Audhor-Controller
3 Expenditures for ROPS 21-22 Enforceable Obligations
3,953,255
(Actual 06/3022)
4 Retention of Available Cash Balance (Actual 0613022)
1,123,000
RPTTF amount retained should only include the amounts
dislnbutnd as reserve for future penod(s)
5 ROPS 21.22 RPTTF Prior Period Adjustment
No entry required
RPTTF amount should be to the Agency's ROPS 21-22 PPA
farm submitted to the CAC
5 Ending Actual Available Cash Balance (06/3022)
S•
S-
S•
e•
sloe,=
C to F=(1+2-3.4), G-(1+2-3-4-5)