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Home My WebLink AboutSA RESO 2018-96RESOLUTION NO. 2018 — 96 RESOLUTION OF THE BOARD OF THE SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION AS THE NATIONAL CITY REDEVELOPMENT AGENCY ADOPTING A BUDGET OF $10,660,702 FOR FISCAL YEAR 2019 WHEREAS, on June 19, 2018, the Executive Director submitted to the Board of the Successor Agency a Proposed Budget for the 2019 fiscal year, and WHEREAS, said budget reflects the authorized expenditures of $10,660,702 for the 2018-19 Recognized Obligation Payment Schedule (ROPS 18-19) period of July 1, 2018 through June 30, 2019; and WHEREAS said budget has been discussed and deliberated in public session. NOW, THEREFORE, BE IT RESOLVED by the Board of the Successor Agency to the Community Development Commission as the National City Redevelopment Agency that the proposed budget for the fiscal year beginning July 1, 2018, attached hereto and incorporated by this reference herein as Exhibit "A", with Successor Agency expenditures totaling $10,660,702, is hereby approved, adopted, and appropriated. BE IT FURTHER RESOLVED that the Executive Director is hereby authorized to make budgetary revisions between budget line items within a fund as necessary for the operation of the Successor Agency. PASSED and ADOPTED this 19th day of June, 2018. on Morrison, Chairman ATTEST: N 0,& Mic el R. Dalla, CKy Clerk as Secretary to the Successor Agency APPROVED AS TO FOR r Agency EXHIBIT A SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION AS THE NATIONAL CITY REDEVELOPMENT AGENCY FISCAL YEAR 2019 PROPOSED BUDGET Contents: • Estimated Financing Sources • Expenditures and Transfers Summary • Expenditure Account Detail • Recognized Obligation Payment Schedule (ROPS) 18-19 Authorized Items (summarized) EXHIBIT MAY BE VIEWED AT THE OFFICE OF THE CITY CLERK SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION AS THE NATIONAL CITY REDEVELOPMENT AGENCY ESTIMATED FINANCING SOURCES SUMMARY BY FUND AND SOURCE FISCAL YEAR 2018. 2019 FY 2016 Fy 2017 Fy 2018 FY 2019 Acct. No. Account Title Actual Actual Adopted Proposed 711-00000 REDEV OBLIGATIONS RETIREMENT FUND 3011 RPTTF Distribution 3300 Investments Earnings 3309 Rental Property Income 3320 Interest Income - Loans 3321 HILP Payments Interest 3601 Sale of Real Property 3634 Misc Revenue REDEV OBLIGATIONS RETIREMENT FUND TOTAL REVENUE 3999 Transfers From Other Funds Use of Fund 711 Fund Balance' REDEV OBLIGATIONS RETIREMENT FUND TOTAL FINANCING SOURCES 714. 00000 CAPITAL PROJECTS - NON HOUSING 3300 Investments Earnings CAPITAL PROJECTS NON HOUSING FUND TOTAL REVENUE CAPITAL PROJECTS NON HOUSING FUND TOTAL FINANCING SOURCES 715- 00000 CAPITAL PROJECTS - HOUSING 3300 Investments Earnings CAPITAL PROJECTS HOUSING FUND TOTAL REVENUE Transfers -In CAPITAL PROJECTS HOUSING FUND TOTAL FINANCING SOURCES 722- 00000 SIA PREVIOUSLY LOWIMOD HOUSING FUND 3300 Investments Earnings SIA PREVIOUSLY LOWIMOD HOUSING FUND TOTAL REVENUE Use of Fund Balance SIA PREVIOUSLY LOWIMOD HOUSING FUND TOTAL FINANCING SOURCES TOTAL REVENUES TOTAL TRANSFERS IN TOTAL USE OF FUND BALANCE GRAND TOTAL ALL FINANCING SOURCES $ 11,558,679 $ 7,740.998 $ 012,472 $ 8.102,125 92,823 57,563 90,DO0 20,DO0 7,634 12,068 9,242 8.462 325,000 54,167 - - $ 11,659,136 $ 8,189,796 $ 5,011,714 $ 8,130,587 1,645,659 3,431,758 2,530,115 $ 13,304,795 $ 8,189,796 $ 8,443,472 $ 10,660,702 20,352 6,084 - 20,352 6,084 - - $ 20,352 6,084 - - 541 520 14,909,000 - - - $ 14,909,541 520 - - $ 11,680.029 $ 8,196,400 $ 5,011,714 $ 8,130,587 16,554,659 - - - - - 3,431,758 2,530,115 $ 28,234,688 $ 8,196,400 $ 8,443,472 $ 10,660,702 • The amounts shown as the use of fund balance for the FY 2018 adopted and FY 2019 proposed budgets equal the sum of the Reserve Balance and Other Funds columns in the respective ROPS less the revenues in accounts 3300 and 3320 for the respective years. SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION AS THE NATIONAL CITY REDEVELOPMENT AGENCY EXPENDITURES AND TRANSFERS SUMMARY, BY OBJECT - ALL FUNDS FISCAL YEAR 2018. 2019 Personnel Maintenance Capital Total Fund Fund Name Services and Operations Improvements Expenditures Transfers Out Total Budget 711 Redev Obligations Retirement Fund $ - $ 10,660,702 S - $ 10,660.702 $ - $ 10,660,702 714 Capital Projects Fund - Non Housing - - - - - - 715 Capital Projects Fund - Housing - - - - - 722 S/A Previously Low Mod Housing Fund - - - - $ - $ 10,660,702 $ - $ 10,660,702 $ - $ 10,660,702 Total All Funds SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION AS THE NATIONAL CITY REDEVELOPMENT AGENCY EXPENDITURE ACCOUNT DETAIL FISCAL YEAR 2018 - 2019 Account Number Account Title FY 2016 Actuals FY 2017 Actuals FY 2018 Adopted FY 2019 Proposed 711-409 Redev Obligations Retirement Fund 000-209 Legal Services $ 37,486 $ 28,727 $ 136,000 $ 126,700 000-210 City of National City - Sewer Fund Loan Principal' 148,322 262,894 - 000-210 City of National City - SA Admin Services 499.754 371.875 296,587 243,452 000-210 City of National City - SA Property Management - - 000-212 Governmental Purposes 761 325,000 - 000-213 Professional Services 29,479 41,086 250,000 353,000 000-219 Fiscal Agent Fees 3,215 2,215 20,000 4,000 000-234 Electricity and Gas 3,765 - - - 000-236 Water 1,442 - - - 000-299 Contract Services 4,286,776 2,244,405 2,200,000 5,600,000 000-399 Materials 8 Supplies 4,548 000,470-0001 Bond Principal Redemption - 1999 TAB" 155,000 165,000 175,000 - 000-470-0002 Bond Principal Redemption - 2004 TAB" 3,145,000 - - - 000-470-0003 Bond Principal Redemption - 2005 TAB" 3,670,000 760,000 790,000 - 000-470-0004 Bond Principal Redemption -2011 TAB** 315,000 1,145,000 1,255,000 - Balance Sheet Bond Principal Redemption - 2017A TARB'• 2,964,000 Balance Sheet Bond Principal Redemption - 2017B TARB" 199,000 000-480-0001 Bond Interest Redemption - 1999 TAB 169.550 158,111 153,051 - 000-480-0002 Bond Interest Redemption - 2004 TAB 81,713 - - - 000-480-0003 Bond Interest Redemption - 2005 TAB 553,690 418,220 400,409 - 000-480-0004 Bond Interest Redemption - 2011 TAB 2,522,591 2,463,221 2,427,075 - 000-480-0005 Bond Interest Redemption - 2017A TARB 11105,362 000480-0006 Bond Interest Redemption - 2017B TARS 60,640 000-483-0000 Loan Interest Payment 541 - 77,456 - Total Fund 711 $ 15,624,085 $ 8,122,860 $ 8,443,472 $ 10,660,702 714-409 Capital Projects Fund - Non Housing 099-0000 Transfers to Other Funds $ 14,909,000 $ - S - 500-598-various Capital Projects - Total Fund 714 $ 14,909,000 $ - $ - $ 715-409 Capital Projects Fund - Housing 000-650-9060 WI-TOD Phase II Grant S 14.909,000 $ - $ - 500-598-1592 WI-TOD Phase Total Fund 715 $ 14,909,000 $ - $ - $ - 722.409 SIA Previously Low Mod Housing Fund 000-099-0000 Transfers to Other Funds Total Fund 722 Total Successor Agency Expenditures and Transfers $ 819,082 $ - $ - $ 819,082 $ - $ $ - $46,261,167 $ 8,122,860 $ 8,443,472 $10,660,702 *Sewer Fund Loan repayment is shown for informational puposes only. In the general ledger and financial statements, the debt payment is reflected as a reduction in the amount owed for an advance from other funds instead of an expenditure. "Bond Principal Redemption amounts are shown as budgetary items for informational purposes only. In the general ledger and financial statements, bond principal payments made by the Successor Agency are shown as reductions to Long -Term Debt Payable instead of expenditures, consistent with accounting standards for fiduciary entities/funds. National City Successor Agency Recognized Obligation Payment Schedule (ROPS) 18-19 - Authorized Items (Summarized) Funding Sources Redevelopment Total Outstanding Property Tax Trust Item 1f Project Name/Debt Obligation Obligation Type Payee Debt or Obligation Retired ROPS 18-19 Total Bond Proceeds Reserve Balance Other Funds Fund RPTTF Admin RPTTF Totals 10,660,702 - 2,525,122 33,455 7.852,125 250,000 12 WI-TOD (DDA/Co-Op/Bond OPA/DDA/Construction City of National 210.000 N 210,000 180,000 - 30.000 - Docs/Other Grants) City/E2 ManageTech 13 WI-TOD (DDA/Co-Op/Bond OPA/DDA/Construction City of National 100,000 N 100,000 100,000 - - Docs/Other Grants) City/DTSC 87 Personnel and Admin Costs Admin Costs City of National 250,000 N 250,000 - - 260,000 City 110 Environmental Monitoring for CDC OPA/DDA/Construction County of San 20.000 N 15,000 5,000 10,000 - Properties Diego 111 Environmental Monitoring for CDC Remediation GeoSyntec 33,000 N 18,000 18,000 - Properties Consultants 128 Contract for Financial Analysis Fees NHA Advisors 10,000 N 10,000 - - 10,000 - 144 Contract for Legal Services Legal Kane, Ballmer, & 17,000 N 17,000 17,000 - - Berkman 146 Contract for Legal Services Legal Opper & Varco, 48,000 N 48,000 48,000 - LLP/ Richard Caper 147 Contract for Legal Services Legal Christensen & 40,000 N 20,000 20,000 Spath, LLP 162 Bonds Fees Bank of New 4,000 N 4,000 - - 4.000 York 167 Contract for Legal Services Legal Meyers Nave 24,000 N 24,000 24,000 - - - Hoffman Riback Silver & Wilson 176 Unforseen SA remediation cost OPA/DDA/Constmction Paradise Creek 5,600,000 N 5,600,000 2,000.000 3,600,000 obligation - estimated additional Housing costs Phase II WI-TOD Partners 179 Joint Defense and Cost Sharing Litigation City of National 15,700 N 15,700 15,700 Agreement with respect to the City/City of Affordable Housing Coalition of San Lemon Grove Diego County v. Sandoval et at case 180 2017 Tax Allocation Refunding Bond Refunding Bonds Issued Bank of New 45,874.000 N 2,964.000 117,422 - 2,846,578 - Series A Principal Payment After 6127112 York Mellon Trust Company, N. A. 181 2017 Tax Allocation Refunding Bond Refunding Bonds Issued Bank of New 9,086,399 N 1,105, 362 - 1,105,362 - - Series A Interest Payment After 6/27/12 York Mellon Trust Company, N. A. 182 2017 Tax Allocation Refunding Bond Refunding Bonds Issued Bank of New 2,669.000 N 199,000 33,455 165,545 - - Series B Principal Payment After 6127112 York Mellon Trust Company, N. A. 183 2017 lax Allocation Refunding Refunding Bonds Issued jBank of New 410,638 N 60,640 - 60,640 Bonds- Series B Interest Payment After 6/27M2 York Mellon Trust Company, N.A. Passed and adopted by the Successor Agency to the Community Development Commission as the Redevelopment Agency of the City of National City, California, on June 19, 2018 by the following vote, to -wit: Ayes: Boardmembers Cano, Mendivil, Morrison, Rios, Sotelo-Solis. 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 City Clerk Serving as Secretary to the Successor Agency 0',(u By: , "I'V De ty I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of RESOLUTION NO. 2018-96 of the Successor Agency to the Community Development Commission as the Redevelopment Agency of the City of National City, California, passed and adopted on June 19, 2018. By: City Clerk Serving as Secretary to the Successor Agency Deputy