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Home My WebLink AboutSA RESO 2019-103RESOLUTION NO. 2019 — 103 RESOLUTION OF THE BOARD OF THE SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION AS THE NATIONAL CITY REDEVELOPMENT AGENCY ADOPTING A BUDGET OF $9,253,399 FOR FISCAL YEAR 2020 WHEREAS, on June 4, 2019, the Executive Director submitted to the Board of the Successor Agency a Proposed Budget for the 2020 fiscal year, and WHEREAS, said budget reflects the authorized expenditures of $9,253,399 for the 2019-2020 Recognized Obligation Payment Schedule (ROPS 19-20) period of July 1, 2019 through June 30, 2020; 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, 2019, attached hereto and incorporated by this reference herein as Exhibit "A", with Successor Agency expenditures totaling $9,253,399, 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 4th day of Jun ATT T: Michael . Dalla, City Clerk as Secretary to the Successor Agency �_\��:Z��Id�7e��ri7�i e ► � EXHIBIT A SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION AS THE NATIONAL CITY REDEVELOPMENT AGENCY FISCAL YEAR 2020 PROPOSED BUDGET Contents: • Estimated Financing Sources • Expenditures and Transfers Surnmary • Expenditure Account Detail • Recognized Obligation Payment Schedule (ROPS)-19-20 Auftidzed Items (summarized) SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION AS THE NATIONAL CITY REDEVELOPMENT AGENCY ESTIMATED FINANCING SOURCES SUMMARY BY FUND AND SOURCE FISCAL YEAR 2019 - 2020 FY 2017 FY 2018 FY 2019 FY 2020 Acct. No. Account Title Actual Actual Adopted Proposed 711- 00000 Redev Obligations Retirement Fund 3011 RPTTF Distribution $ 7,740,998 $ 8,921.732 $ 8,102,125 $ 4,386,365 3300 Investment Earnings 57,563 125,328 20,000 50,000 3320 Interest Income - Loans 12,068 6,719 8,462 7,824 3601 Sale of Real Property 325,000 3634 Mist Revenue 54,167 Fund 711 Total Revenue S 8,189,796 $ 9,053,779 S 8,130,587 $ 4,944,189 3999 Transfers From Other Funds 1,045.265 Use of Fund 711 Fund Balance' 2,530,115 4,309,210 Fund 711 Total Financing Sources $ 8,189,796 $ 10,099,044 $ 10,660,702 $ 9,253,399 714- 00000 Capital Projects Fund - Non Housing 3300 Investment Earnings Fund 714 Total Revenue Use of Fund Balance Fund 714 Total Financing Sources 715- 00000 Capital Projects Fund - Housing 6,084 6,084 6,084 3300 Investment Earnings 520 Fund 715 Total Revenue 520 Transfers -In - - Fund 715 Total Financing Sources 520 Total Revenues $ 8,196,400 $ 9,053,779 $ 8,130,587 $ 4,944,189 Total Transfers -In 1,045,265 - Total Use of Fund Balance 2,530,115 4,309,210 Grand Total Successor Agency Financing Sources $ 8,196,400 $ 10,099,044 $ 10,660,702 $ 9,253,399 ' The amounts shown as the use of fund balance for the FY 2019 adopted and FY 2020 proposed budgets equal the sum of the Reserve Balance and Other Funds columns in the respective RODS less the revenues in accounts 3300 and 3320 for the respective years. 0 SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION AS THE NATIONAL CITY REDEVELOPMENT AGENCY EXPENDITURES AND TRANSFERS SUMMARY, BY OBJECT - ALL FUNDS FISCAL YEAR 2019 • 2020 Maintenance Personnel and Capital Total Fund Fund Name Services Operations Improvements Expenditures Transfers Out Total Budget 711 Redev Obligations Retirement Fund $ $ 9,253,399 $ $ 9,253,399 $ $ 9.253,399 714 Capital Projects Fund - Non Housing _ _ 715 Capital Projects Fund - Housing Total All Funds $ $ 9,253,399 $ $ 9 253,399 $ $ 9,253,399 SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION AS THE NATIONAL CITY REDEVELOPMENT AGENCY EXPENDITURE ACCOUNT DETAIL FISCAL YEAR 2019-20 Account Number Account Title FY 2017 Actuals FY 2018 Actuals FY 2019 Adopted FY 2020 Proposed 711-409 Redev Obligations Retirement Fund 000-096 Costs of Bond Issuance 297,654 - - 000-209 Legal Services 28,727 24,801 126,700 122,572 000-210 City of National City - Sewer Fund Loan Principal* 262,894 - 000-210 City of National City - SA Admin Services 371,875 306,440 243,452 243.452 000-212 Governmental Purposes 325.000 - - - 000-213 Professional Services 41,086 92,348 353,000 373,000 000-219 Fiscal Agent Fees 2,215 50 4,000 5,500 000-299 Contract Services 2,244,405 259,727 5,600,000 4,300,241 000-399 Materials & Supplies - - 4,548 4.548 000-470-0001 Bond Principal Redemption -1999 TAB** 165,000 175,000 - 000-470-0003 Bond Principal Redemption - 2005 TAB** 760,000 790,000 000-470-0004 Bond Principal Redemption - 2011 TAB" 1,145,000 1,255,000 - Balance Sheet Bond Principal Redemption - 2017A TARB** 2,964,000 2.918,000 Balance Sheet Bond Principal Redemption - 2017B TARB** 199,000 198,000 000-480-0001 Bond Interest Redemption --1999 TAB 158,111 13,119 - 000-480-0003 Bond Interest Redemption - 2005 TAB 418,220 34,651 000-480-0004 Bond Interest Redemption - 2011 TAB 2,463,221 204,871 - - 000-480-0005 Bond Interest Redemption - 2017A TARB 866.216 1,105,362 1,032,130 000-480-0006 Bond Interest Redemption - 2017B TARB 51,062 60,640 55,956 000-483-0000 Loan Interest Payment - 77,456 - - Total Fund 711 $ 8,122,860 $ 4,711,288 $ 10,660,702 $ 9,253.399 714-409 Capital Projects Fund - Non Housing 099-0000 Transfers to Other Funds— $ $ 962,914 $ - $ - Total Fund 714 $ $ 962,914 $ $ 715-409 Capital Projects Fund - Housing 099-0000 Transfers to Other Funds"' $ $ 82,350 $ $ Total Fund 715 $ - $ 82,350 $ - $ Total Successor Agency Expenditures and Transfers $ 8,122,860 $ 5,756,553 $10,660,702 $ 9.253,399 * 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. *** In FY 2018 all unspent 2011 bond proceeds were applied to the issuance of the SA's 2017 TARBs. 3 National City Successor Agency Recognized Obligation Payment Schedule IROPS)19-20 - Authorized Items ISummatzed) funding Sources 1ROPS19-20'rotai Redevelopment Item a Protect Name/Debt Obligation Obligation TV e Paves Total Outstanding Debt or Obli allan Refired Bond Proceeds Reserve Balance Other Funds Property Tax Trust Fund (RPTTF1 Totals Admin RPTTF 9.253,399'. 4,143,298 223.736 4,636,365 250.000 12 WI-TOD (DDA/Co-OplBond DocslDther UPA/DDAfConstruclion City of National 210,D00 N 233,2D0. Grants) Chy/EnSafe 113.200 120.000 13 WI-TOD (DDA/Co-Op/Bond Docs/Olher OPA/MA/ConsVuclion City of National 100,000 N 80,500 Drams) Chy/DTSC 60,500 20.000 - 87 Personnel and Admn Costs Admin Costs City of National City 250,000 N 250,000 250,000 110 Environmental Monitoring for CDC OPA/DDA/Construction County of San Diego 20,D00 N 15,000 15,000 Properties - t t t Environmental kAonllonng lox CDC Remediation GooSynlec 33,D00 N 36,300 6,300 Properties Consultants 30,0DO 128 Contract for Financial Analysis Fees NHA Advisors 10,D00 N 8,000 _ 8.000 144 Contract for Legal Services Legal Kane. Ballimr. 8, 17,000 N 17.000,: 17,000 - Berkman 146 Contract for Legal Services Legal Opper 8 Varco, LLP/ 48,0W N 47,000I 47,000 _ Richard Opper 147 Contract for Lags Servocas Legal Chnslensen 8 Spam, 40.000 14 20,000I 20.000 LLP 162 Burlds Fees Bank of New York 4.000 N 4,D00 4,000 167 Contract for Legal Services Legal Meyers Nava 24.000 N 24,000 24.000 - - Hoffman Rback SsverB Wilson 176 Unforseen SA remediation cost OPAIDDA/Construction Paradise Creek 5,600,D170 N 4.300.241, 3.6DO,000 223.736 476,505 obligation - estimated additional costs Housing Partners Phase II WI-TOD 179 Joint Defense and Cost Sharing Litigation City of National 15,700 N 12,572'i 12.572 Agreement with respect to the Affordable Cify/Cily of Lemon Housing Coallhon of San Diego County Grove v. Sandoval at at case 150 2017 Tax Allocation Refunding Bond - Refunding Bonds Issued Bank of New York 45.874,000 N 2.918,000: 0 2.918,000 Series A Pnncipat Payment Alter 6f27/12 Meson Trust Company, N. A 181 2017 Tax Allocation Refunding Bores - Refunding Bonds Issued Bank of New York 9.086.399 N 1,032,130! 227,728 8D4,404 Series A Interest Payment Alter 6/27/12 Mellon Trust Company, N. A. 182 2017 Tax Allocation Refunding Bona - Refunding Bonds Issued Bank of New York 2,569,000 N /98,0DO - 198.000 - Series B Principal Payment After 6127/12 Mellon Trust Company, N. A. 183 2017 Tax Allocation Refunding Bonus - Refunding Bonds Issued Bank of New York 410.638 N 55,9m 55,956 Series B Irnerest Payment After 6127/12 Mellon Trust Company, N. 0. 184 Bonds Fees US Bank N 750 0 750 185 Bonds Foes US Bank N 750 D 750 - 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 4, 2019 by the following vote, to -wit: Ayes: Boardmembers Cano, Morrison, Quintero, Rios, Sotelo-Solis. Nays: None. Absent: None. Abstain: None. AUTHENTICATED BY: ALEJANDRA SOTELO-SOLIS Chairwoman 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 By: a4a4cjazl puty I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of RESOLUTION NO. 2019-103 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 4, 2019. By: City Clerk Serving as Secretary to the Successor Agency Deputy