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Home My WebLink AboutSA RESO 2020-108RESOLUTION NO. 2020 — 108 RESOLUTION OF THE BOARD OF THE SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION AS THE NATIONAL CITY REDEVELOPMENT AGENCY ADOPTING A BUDGET OF $4,720,540 FOR FISCAL YEAR 2021 WHEREAS, on June 16, 2020, the Executive Director submitted to the Board of the Successor Agency a Proposed Budget for the 2021 Fiscal Year, and WHEREAS, said budget reflects the authorized expenditures of $4,720,540 for the 2020-21 Recognized Obligation Payment Schedule ("ROPS 20-21 ") period of July 1, 2020 through June 30, 2021; 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, 2020, attached hereto and incorporated by this reference herein as Exhibit "A", with Successor Agency expenditures totaling $4,720,540, 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 16th day of June, 20 Alejandra Sote -Solis Chairwoman ATTEST: Michael R. Dalla, C y Clerk as Secretary to the Successor Agency EXHIBIT A SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION AS THE NATIONAL CITY REDEVELOPMENT AGENCY FISCAL YEAR 2021 PROPOSED BUDGET Contents: • Estimated Financing Sources • Expenditures and Transfers Summary • Expenditure Account Detail • Recognized Obligation Payment Schedule (ROPS) 20-21 Authorized 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 2020-21 FY 2018 FY 2019 FY 2020 FY 2021 Acct. No. Account Title Actual Actual Adopted Proposed 711-00000 Redev Obligations Retirement Fund 3011 RPTTF Distribution 3300 Investment Earnings 3320 Interest Income - Loans 3601 Sale of Real Property 3634 Misc Revenue Fund 711 Total Revenue 3999 Transfers From Other Funds Use of Fund 711 Fund Balance' Fund 711 Total Financing Sources 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 3300 Investment Earnings Fund 715 Total Revenue Transfers -In Fund 715 Total Financing Sources Total Revenues Total Transfers -In Total Use of Fund Balance Grand Total Successor Agency Financing Sources $ 8,921,732 $ 5,185,031 $ 4,886,365 $ 1079,632 125,328 215,536 50,000 20,000 6719 8,462 7.824 7,174 $ 9,053,779 $ 6,409,029 $ 4,944,189 $ 1,106,806 1045,265 4,309,210 3,613,734 $ 10,099,044 $ 5,409,029 $ 9,253,399 $ 4,720,540 $ 9,053,779 $ 5,409,029 $ 4,944,189 $ 1,106,806 1,046,265 - - - 4,309,210 3,613,734 $ 10,099,044 $ 5,409,029 $ 9,253,399 $ 4,720,540 The amounts shown as the use of fund balance for the FY 2020 adopted and FY 2021 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 2020-21 Maintenance Personnel and Capital Total Fund Fund Name Services Operations Improvements Expenditures Transfers Out Total Budget 711 Redev Obligations Retirement Fund $ $ 4,720,540 $ 5 4,720.540 $ $ 4,720,540 714 Capital Projects Fund - Non Housing - - - 715 Capital Projects Fund - Housing - - - - $ $ 4,720,540 $ $ 4,720,540 $ $ 4,720,540 Total All Funds SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION AS THE NATIONAL CITY REDEVELOPMENT AGENCY EXPENDITURE ACCOUNT DETAIL FISCAL YEAR 2020-21 FY 2018 FY 2019 FY 2020 FY 2021 Account Number Account Title Actuals Actuals Adopted Proposed 711.409 Redev Obligations Retirement Fund 000-096 Costs of Bond Issuance 297,654 - - - 000-209 Legal Services 24,801 788 122,572 12,672 000-210 City of National City - Sewer Fund Loan Principal* 262,894 - - 000-210 City of National City - SA Admin Services 306,440 250,000 243,452 245,444 000-212 Governmental Purposes - - 000-213 Professional Services 92,348 449.321 373,000 49.500 000-219 Fiscal Agent Fees 50 3,560 5,500 4,750 000-299 Contract Services 259,727 2,294,066 4,300,241 200,000 000-399 Materials 8 Supplies - - 4,548 4,556 000470-0001 Bond Principal Redemption - 1999 TAB*' 175,000 - - - 000470-0003 Bond Principal Redemption - 2005 TAB** 790,000 - - - 000470-0004 Bond Principal Redemption - 2011 TAB** 1,255,000 - - - Balance Sheet Bond Principal Redemption - 2017A TARB** 2,964,000 2,918,000 2,991,000 Balance Sheet Bond Principal Redemption - 2017B TARB** 202,000 198,000 203,000 000480-0001 Bond Interest Redemption - 1999 TAB 13,119 - - 000480-0003 Bond Interest Redemption - 2005 TAB 34,651 - - 000480-0004 Bond Interest Redemption - 2011 TAB 204,871 - - 000480-0005 Bond Interest Redemption -2017A TARB 866,216 1,105,362 1,032,130 958,564 000480-0006 Bond Interest Redemption -2017E TARB 51,062 60,605 55,956 51,154 000483-0000 Loan Interest Payment 77,456 - - - Total Fund 711 $ 4,711,288 $ 7,329,701 $ 9,253,399 $ 4,720,540 714.409 Capital Projects Fund - Non Housing 099-0000 Transfers to Other Funds- $ 962,914 S - Total Fund 714 $ 962,914 $ - 715409 Capital Projects Fund - Housing 099-0000 Transfers to Other Funds**' S 82.350 5 - Total Fund 715 $ 82,350 $ - Total Successor Agency Expenditures and Transfers $ 5,756,553 $ 7,329,701 $ 9,253,399 $ 4,720,540 * 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. National City Successor Agency Recognized Obligation Payment Schedule (ROPS) 20-21 - Authorized hems (Summarized) RaMwloPnroM Total outstanding = Property Tax Trust hemt obligation Type pinnes, Debt or Obligation Bond Proceetle Reserve Balance ONer Funds Fund IRPTTF) AJmin RPTTF _Projin,tNiumemaind0bligall. Totals 49,925,287 4,720,540 3.640,908 829,632 250,000 12 W1-TOD IODA/Co-Op/Sonl Dorai0her 0PA/DDAIC4nstruction City of National 138800 N - 0 0 - Grants) City/EnSefe _ 13 W7-TOD(DDAroo- DpEwd Cocs/Other OPAIDDACinshuc4on Coy of National N 0 0 Grants) CIty/DTSC _ V Personnel and Admin Coats Admin Cost, City M National City 250,0110 N 2WDIX) - 250,000 110 Environmental Monitoring for CDC OPAIDDA/ fdynjohoo County of San Diego 15,000 N 15,000 0 - 15.000 Progenies Ill Emanormertal Montomngfor CDC Renomination Geo-Symec 30,000 N WIDE) 0 Propenies Consultants _ 128 Contract fa Fnan ial Anslyai. Fee. NHA Advisors 4,500 N 4,500 4.500 - 1" Contract for Legal Services Legal Kane, Below a 17,000 N - 0 Berkman 146 Cantmd M Lapel Serviws Legal Opper B Varco, LLP/ 47,000 N - 0 - Richard! Opper 147 Centred for Legal Services Legal Chnstommn 8 Sporn, 4Q000 N - 0 UP 1S2 Balls Fees Bank of New Yon, 48,000 N 4,000 - - 4,= - 167 Coned for Legal San. Leal Mayers New 24,000 N - - Holfinen Stack Silver 8 Wilson 176 Unforseen SA remediebon our OPAIDDA/Conelmclion Paradise Creek 200,wo N 200,000 200.000 - obkgaticn- estimated additional rusts Housing Partners Phase II WI -TOO 179 Joint Defense and Cost Staining litigation City of National 12.572 N 12.572 12,572 - - - Agreement wMrespect tothe AfloMebN City/City of Lemon Housing CoaBlon of San Gaps, County Gmw v. Sandi el A case _ 180 2017 Tax Allocation Refunding Bond- Refunding Bonds Issued Bank of New Yak 39,992.000 N 2,991." 2,991,000 - 0 - SenseAPdncpalPayment A8ar827/12 Mellon Trust Company, N.A. let 2017 Tax Allocation Refunding Bond- Refundig Balls Issued Bank of New Yak 6,551 N 9W,564 437,33E 521,22E - Sam$ A Interest Payment Ater6127112 Mellon Trust Company, N. A _ 182 2017 Tax Allocation Refunding Bond- Refunding Bands Issued Bank of New York 2.268.000 N 203,000 - - 203.000 - Series S Principal Payment Ater 6177/12 Mellon Trust Company, N.A 183 2017 Tex Allocation Refunding Bonds- Refunding Bonds Issued Bank of NeW York 278,275 N 51,154 51,154 Series B Interest Payment Ater8R7/12 Mellon Trust Company, N. A. IN Bonds Fees US Bank N 0 - 0 155 13orMs Fees US Bank 750 N 750 0 750 - 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 16, 2020 by the following vote, to -wit: Ayes: Boardmembers Cano, Morrison, Quintero, Rios, Sotelo-Solis. Nays: None. Absent: None. Abstain: None. AUTHENTICATED BY 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 s Secretary to the Successor Agency Deputy I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of RESOLUTION NO. 2020-108 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 16, 2020. City Clerk Serving as Secretary to the Successor Agency By: Deputy