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8N Consent 2021 0104
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8N Consent 2021 0104
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12/30/2020 5:46:07 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agenda
Document Date (6)
1/4/2021
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SA Reso 2021-001 Adopting Recognized Obligations Payment Schedule
(Approved by)
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\City Clerk\City Council\Resolutions\2021
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File Number: 20-580 <br />Alameda Countywide Oversight Board at its January 20, 2021 meeting. Approvals from both the <br />Successor Agency and Oversight Board are required in order to submit the ROPS to the <br />California Department of Finance by February 1, 2021. <br />Analysis <br />A primary responsibility of the Successor Agency is to oversee the payment of Enforceable <br />Obligations. Enforceable Obligations are defined as: <br />·Bonds, including debt service reserve set-asides and other required payments; <br />·Loans borrowed by the Agency; <br />·Payments required by the federal or state governments; <br />·Pension and unemployment payments for Agency employees; <br />·Judgments, settlements or binding arbitration decisions; and <br />·Any legally binding and enforceable contract that does not violate the debt limit or public <br />policy. <br />Funding is requested for the following Enforceable Obligations on the Fiscal Year 2021-2022 <br />ROPS: <br />·Urban Analytics - $6,500 <br />o Consultant performing continuing disclosure requirements for bonds and fiscal <br />analysis of tax enforcement. <br />·Casa Verde Operating Agreement - $170,510 <br />o 30 Year Annual Operating Subsidy to Mercy Housing for development of affordable <br />housing at the former Islander Motel at 2398 E. 14th Street. Payments are made <br />per the schedule established in the 2006 Disposition and Development Agreement. <br />·Successor Agency Administration - $250,000 <br />o Based on AB x1 26, the amount permitted to fund staff and legal costs and <br />expenses for Successor Agency Administration is the greater of 3% of funds <br />received from the Redevelopment Property Tax Trust Fund (RPTTF) or $250,000 <br />annually. For the 2021-2022 ROPS period, the $250,000 minimum will apply. <br />·San Leandro Improvement Association - $5,000 <br />o Assessment payments for Successor Agency-owned properties in the downtown <br />business improvement district. The Actual amount is based on annual assessment <br />charges. <br />·2001 Certificates of Participation/2013 Lease Revenue Bonds - $552,945 <br />o Annual debt service payment is made per the payment schedule. <br />·2014 Tax Allocation Bonds - $2,101,239 <br />o Annual debt service payment is made per the payment schedule. The 2014 bonds <br />replaced the 2002 Plaza Area and the 2004 West San Leandro Area Bonds. <br />·2018 Tax Allocation Bonds - $2,461,236 <br />o Annual debt service payment are made per the payment schedule. The 2018 bonds <br />replaced the 2008 Tax Allocation Bonds, which were refinanced under better terms <br />and ‘retired’ on the 2019-2020 ROPS. <br />Two items are to be ‘retired’ on the 2021-2022 ROPS: <br />·Ford Store Sales Tax Rebate - Per the payment schedule, the final payment of sales tax <br />Page 2 City of San Leandro Printed on 12/30/2020 <br />349
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