HomeMy WebLinkAboutSA RESO 2012-18RESOLUTION NO. 2012 — 18
RESOLUTION OF THE BOARD OF THE SUCCESSOR AGENCY
TO THE COMMUNITY DEVELOPMENT COMMISSION AS
THE NATIONAL CITY REDEVELOPMENT AGENCY AUTHORIZING
THE RELEASE OF APPROPRIATIONS FROM THE COOLIDGE AVENUE
AND CASA FAMILIAR PROJECTS AND EOPS OBLIGATIONS, AND
AUTHORIZING THE USE OF TAX INCREMENT RESERVE FUNDS
TO PROVIDE APPROPRIATIONS FOR THE PROTESTED
JULY 12, 2012 TRUE -UP PAYMENT OF $4.2MILLION TO
THE DEPARTMENT OF FINANCE PURSUANT TO AB 1484
WHEREAS, on July 9, 2012, the Successor Agency to the Community
Development Commission as the National City Redevelopment Agency ("Successor Agency")
received notification from the County of San Diego Auditor Controller of a demand for
repayment from the State of California Department of Finance ("DOF") pursuant to Assembly
Bill 1484 ("AB 1484"); and
WHEREAS, AB 1484 contains numerous mandates, including a requirement for
all redevelopment Successor Agencies to remit to their respective County Auditor Controllers
"true -up" payments, which are characterized as "residual balances" of excess tax increment that
had been collected during the initial wind -down of redevelopment that are now allegedly owed to
the local taxing entities; and
WHEREAS, the July 9, 2012 demand from the San Diego County Auditor
Controller to the National City Successor Agency called for a repayment of $4,272,832.94,
identified as residual balance payable by July 12, 2012, with significant fines and penalties for
late or delinquent payments; and
WHEREAS, the Successor Agency did not have any residual balance, contrary
to the DOF assertion, because the monies DOF identified had been properly used to pay
enforceable obligations that had been identified on its DOF-approved Enforceable Obligations
Payment Schedule; and
WHEREAS, at a special meeting held July 10, 2012, the Board of the Successor
Agency authorized the Executive Director to remit funds in the amount of $4,272,832.94 from
any available funds to the San Diego County Auditor Controller, as demanded by the State
pursuant to AB 1484, along with a letter preserving the Successor Agency's right to challenge
the payment demand; and
WHEREAS, as a result, it is necessary to release funds appropriated for the
Coolidge Avenue Project in the amount of $450,000, and Casa Familiar Project ($150,163.82),
as well as funds previously appropriated for the EOPS obligations from the Tax Increment
Reserve Fund, and to use these funds along with available balances in the Redevelopment
Obligations Retirement Fund to meet the AB 1484 true -up payment requirement; and
WHEREAS, the appropriation for the Coolidge Avenue Project was meant to be
used as matching funds for this project. Staff will review whether the 2011 Tax Allocation Bond
proceeds appropriated for this project need to be adjusted. The Casa Familiar Project is
complete, so there is no impact on the project by releasing the funds. The EOPS obligation
account was intended to be used as a supplement for 2011 Tax Allocation Bond projects or
other Successor Agency recognized obligations. The available balances in the redevelopment
Resolution No. 2012 — 18
Page Two
obligations retirement fund were intended to be used to meet Successor Agency recognized
obligations for the period of July 1, 2012 through December 31, 2012. With this action, that
balance is now depleted.
NOW, THEREFORE, BE IT RESOLVED that the Board of the Successor Agency
to the Community Development Commission as the National City Redevelopment Agency
hereby authorizes the release of appropriations from the Coolidge Avenue Project and the Casa
Familiar Project, and authorizing the use of Tax Increment Reserve Funds to meet the AB 1484
true -up payment requirements.
PASSED and ADOPTED this 7th day of Augus
Won Morrison, Chairman
ATTEST:
"j'�
Michael R. Dalla, ity Clerk as
Secretary to the Successor Agency
AS TO FORM:
Silva
3v Counsel
Passed and adopted by the Successor Agency to the Community Development
Commission as the Redevelopment Agency of the City of National City, California, on
August 7, 2012 by the following vote, to -wit:
Ayes: Boardmembers Morrison, Natividad, Rios, Sotelo-Solis, Zarate.
Nays: None.
Absent: None.
Abstain: None.
AUTHENTICATED BY: RON MORRISON
Chairman of the Successor Agency to the
Community Development Commission
as the Redevelopment Agency of the
City of National City, California
By:
y
it Clerk Servig as Secretary
to the Successor Agency
Deputy
I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 2012-18 of the Successor Agency to the Community Development
Commission as the Redevelopment Agency of the City of National City, California,
passed and adopted on August 7, 2012.
ty Clerk Serving as Secretary
to the Successor Agency
By:
Deputy