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Home My WebLink About01/30/12 RDA AGENDA PACKETBAKERSFIELD REDEVELOPMENT AGENCY AGENDA SPECIAL MEETING OF JANUARY 90, 201 Conference Room A, City Hall North, 1600 Truxtun Avenue Special Meeting - 4;00 p.m. SPECIAL MEETING - 4;00 P.M. 1. ROLL CALL 2. PUBLIC STATEMENTS 3. CONSENT CALENDAR a, Minutes of the January 3, 2012 regular meeting, b, Approval of department payments from November 4, 2011 to January 27, 2012 in the amount of $883,622.72, Staff recommends approval of Consent Calendar Items 3.a, and 3.b. 4. NEW BUSINESS a, Amended Enforceable Obligation Payment Schedule per A1326, Section 34167 and 34169. Staff recommends adoption of the Schedule and transmittal to the Successor Agency for action. 5. ADJOURNMENT R pectfuliy submitt , Alan Tandy Executive DIr for 1/25/2012 10;48 AM MEETING DATE: January 30, 2012 AGENDA SECTION: Consent Calendar ITEM: 3.a. TO: FROM: DATE: SUBJECT: Bakersfield Redevelopment Agency Roberta Gafford, Secretary January 23, 2012 Minutes of the January 3, 2012 regular meeting. APPROVED DEPARTMENT HEAD GENERAL COUNSEL EXECUTIVE DIRECTOR RECOMMENDATION: Staff recommends approval of the minutes. BACKGROUND: MEETING DATE: January 30, 2012 AGENDA SECTION: Consent Calendar ITEM: 3. b. TO: FROM: DATE: Bakersfield RDA Nelson K. Smith, Finance Officer January 24, 2012 APPROVED DEPARTMENT HEAD GENERAL COUNSEL EXECUTIVE DIRECTOR SUBJECT: Approval of department payments from November 4, 2011 to January 27012 in the amount of $883,622.72. RECOMMENDATION: Staff recommends approval of payments totaling $883,622.72 BACKGROUND: Attached check register is a preliminary payment listing. A final payment listing will be provided to the board members at the meeting on 01 /30/2012. SAW G\ADMIN-BRDA\ADMIN-BRDA-AP-2012\ADMIN--BRDA-AP-01-30-12.doc F BAR c,4 ~ O ~coMORATEp S~ ADMINISTRATIVE REPORT C "nu""Y u.~ P gLIFO MEETING DATE: January 30, 2012 AGENDA SECTION: New Business ITEM: 4. a. TO: Bakersfield Redevelopment Agency FROM: Donna L. Kunz, Deputy Executive Director DEPARTMENT HEAD DATE: January 19, 2012 GENERAL COUNSEL EXECUTIVE DIRECTO SUBJECT: Adoption of the Amended Enforceable Obligation Payment Schedule per AB26- Section 34167 and 34169 RECOMMENDATION: Staff recommends adoption of the Amended Enforceable Obligation Payment Schedule and transmittal to the Successor Agency for action. BACKGROUND: A recent Supreme Court decision upheld the Dissolution of Redevelopment Agencies AB26x1 effective February 1, 2012. As a result, the Successor Agency is required to create a Redevelopment Obligation Retirement Fund by February 1, 2012 in which the Redevelopment Agency assets will be transferred. The Redevelopment Agency adopted an Enforceable Obligation Payment Schedule in August 2011 as required. The regulations allow an opportunity to amend the schedule and transfer it to the Successor Agency for action. The Successor Agency may also modify the schedule if necessary and also adopt the Amended Enforceable Obligation Payment Schedule (EOPS) prepared by the former Redevelopment Agency. The Successor Agency may only make payments for those obligations identified in the EOPS until it adopts another schedule known as the formal Recognized Obligation Schedule (ROPS). It is important for the amended EOPS to be accurate and reflect all of the obligations and payments required by the former Redevelopment Agency. The payments should be reflected through the fiscal year ending June 2012. This is needed because the dissolution bill also calls for the Successor Agency to create a new schedule called the Recognized Obligation Payment Schedule (ROPS). The amended EOPS adopted by the Redevelopment Agency today will be transmitted to the Successor Agency. The Successor Agency in the interim (starting February 1), will make only the payments listed as enforceable obligations on the EOPS. This action will make sure that all of the former Redevelopment Agency obligations are met until such time as the first recognized obligation payment schedule (the BOPS) has been prepared by the Successor Agency, certified and approved by the Successor Agency's oversight board. The dissolution bill S:\Admins\RDA\RDA Admins 2012\Amended EOPS Payment Schedule.Docx January 19, 2012, 3:24PM dk ADMINISTRATIVE REPORT does not define a timeline for this entire process to be accomplished by the various agencies involved. The ROPS is required to be prepared and submitted every six months by the Successor Agency to the Oversight Board where it will be certified and transmitted to the State. The draft of the first ROPS covering the payment period from January 1, 2012 through June 30, 2012 is required to be submitted to the Auditor Controller no later than March 1, 2012. Staff has conducted a review of all of the enforceable obligations of the Redevelopment Agency and amended the schedule to include public infrastructure projects and residential developments that are obligated under the Prop 1 C State Grant Agreement. The Prop 1 C agreement requires the development of five affordable residential projects and five infrastructure projects be constructed in the Mill Creek Infill Area bounded by Golden State, Union Avenue, N Street and California. The Redevelopment Agency received a $10.9 million dollar grant award contingent on the construction of the infrastructure projects and development of the affordable housing units. Four residential projects are under development contract with one remaining to be awarded at 20th Street. In addition, three infrastructure projects have been awarded construction contracts with two remaining. The remaining two includes the 17th Street Mill Creek Linear Park Plaza and the Sister City Phases for the Mill Creek Linear Park Project. The funds required to construct these improvements and the housing development on 20th street are identified as obligations in the amended EOPS. S:\Admins\RDA\RDA Admins 2012\Amended EOPS Payment Schedule.Docx January 19, 2012, 3:24PM dk