HomeMy WebLinkAboutRDA Res 2012-01-18RESOLUTION NO. 01-2012
A RESOLUTION OF THE TIBURON REDEVELOPMENT AGENCY
APPROVING AND ADOPTING AN ENFORCEABLE OBLIGATION
PAYMENT SCHEDULE PURSUANT TO AB 1X 26
WHEREAS, pursuant to the Community Redevelopment Law (Health and Safety
Code Sections 33000 et seq.), the Town Council of the Town of Tiburon ("Town") created the
Redevelopment Agency of the Town of Tiburon ("Agency"); and
WHEREAS, the Agency has been responsible for implementing the Tiburon Redevelopment
Plan covering certain properties within the Town ("Project Area"); and
WHEREAS, as part of the 2011-2012 State budget bill, the California State Legislature
recently enacted, and the Governor signed, companion bills AB IX 26 and AB IX 27, which
eliminate every redevelopment agency unless the community that created it adopts an ordinance
("Continuation Ordinance") agreeing to participate in an Alternative Voluntary Redevelopment
Program which requires the payment of an annual "community remittance" payment; and
WHEREAS, on July 18, 2011, the League of California Cities and the California
Redevelopment Association filed suit in the Supreme Court of the State of California challenging the
constitutionality of and requesting a stay of enforcement of AB 1X 26 and AB 1X 27; and
WHEREAS, on December 29, 2011, the California Supreme Court issued its opinion in
the Lawsuit upholding AB 1 X 26, which dissolves all redevelopment agencies, and striking down
AB 1X 27, thereby requiring the dissolution of all redevelopment agencies by February 1, 2012;
and
WHEREAS, Health and Safety Code Section 34169, enacted by AB 1X 26, requires
redevelopment agencies to adopt, by August 27, 2011, an Enforceable Obligation Payment Schedule
("EOPS") to continue making payments on such obligations; and
WHEREAS, the Agency did not adopt an EOPS prior to August 27, 2011 because it did not
have any enforceable payment obligations; and
WHEREAS, to enable the Town of Tiburon to act as successor to the Agency, the Agency
must adopt an EOPS prior to February 1, 2012;
NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE TOWN OF
TIBURON DOES HEREBY RESOLVE AS FOLLOWS:
Tiburon Redevelopment Agency Resolution No. 01-2012 01118112
Section 1. Recitals. The Recitals set forth above are true and correct and incorporated
herein by reference.
Section 2. Approval of FOPS. The Agency hereby approves and adopts the Enforceable
Obligation Payment Schedule, in substantially the form attached hereto and incorporated by
reference as Exhibit A. as required by Health and Safety Code Section 34169.
Section 3. Posting; Transmittal to Appropriate Agencies. The Executive Director is
hereby authorized and directed to post a copy of the EOPS on the Town's website. The Executive
Director is further authorized and directed to transmit, by mail or electronic means, to the Marin
County Auditor-Controller, the State Controller and the Department of Finance, notification
providing the website location of the posted EOPS and other information as required by AB 1 X 26.
Section 4. Effective Date. Pursuant to Health and Safety Code Section 34169(1), the
Agency's action to adopt the EOPS as set forth herein shall not be effective for three (3) business
days following adoption of this Resolution, pending a request for review of the EOPS by the
Department of Finance.
PASSED AND ADOPTED at a regular meeting of the Board of the Tiburon Redevelopment
Agency this 18th day of January, 2012, by the following vote:
AYES:
BOARDMEMBERS:
Collins, Doyle, Fraser, Fredericks, O'Donnell
NOES:
BOARDMEMBERS:
None
ABSENT:
BOARDMEMBERS:
None
C
JIM
TIB
ATTEST:
DIANE CRANE IACOPL BOARD CLERK
i
REDEVELOPMENT AGENCY
Tiburon Redevelopment Agency Resolution No. 01-2012 01118112 2
EXHIBIT A
ENFORCEABLE OBLIGATION PAYMENT SCHEDULE
Under AB IX 26, an enforceable obligation is any of the following:
(A) Bonds, as defined by Section 33602 and bonds issued pursuant to Section 58383 of the
Government Code, including the required debt service, reserve set-asides, and any other
payments required under the indenture or similar documents governing the issuance of the
outstanding bonds of the former redevelopment agency.
(B) Loans of moneys borrowed by the redevelopment agency for a lawful purpose, to the extent
they are legally required to be repaid pursuant to a required repayment schedule or other
mandatory loan terms.
(C) Payments required by the federal government, preexisting obligations to the state or
obligations imposed by state law, other than pass-through payments that are made by the county
auditor-controller pursuant to Section 34183, or legally enforceable payments required in
connection with the agencies' employees, including, but not limited to, pension payments,
pension obligation debt service, unemployment payments, or other obligations conferred through
a collective bargaining agreement.
(D) Judgments or settlements entered by a competent court of law or binding arbitration
decisions against the former redevelopment agency, other than pass-through payments that are
made by the county auditor-controller pursuant to Section 34183. Along with the successor
agency, the oversight board shall have the authority and standing to appeal any judgment or to
set aside any settlement or arbitration decision.
(E) Any legally binding and enforceable agreement or contract that is not otherwise void as
violating the debt limit or public policy. However, nothing in this act shall prohibit either the
successor agency, with the approval or at the direction of the oversight board, or the oversight
board itself from terminating any existing agreements or contracts and providing any necessary
and required compensation or remediation for such termination.
(F) Contracts or agreements necessary for the administration or operation of the successor
agency, in accordance with this part, including, but not limited to, agreements to purchase or rent
office space, equipment and supplies, and pay-related expenses pursuant to Section 33127 and
for carrying insurance pursuant to Section 33134.
(G) Amounts borrowed from or payments owing to the Low and Moderate
Income Housing Fund of a redevelopment agency, which had been deferred
as of the effective date of the act adding this part; provided, however, that
the repayment schedule is approved by the oversight board.
09959.00000\6849049.6
Under this definition, the RDA's sole enforceable obligation is the creation of 5.5 very housing
units affordable to very low income households.
The information required by AB IX 26 is as follows:
(A) The project name associated with the obligation: Cooperation Agreement with the Marin
Housing Authority
(B) The payee: The Marin Housing Authority.
(C) A short description of the nature of the work, product, service, facility, or other thing of
value for which payment is to be made: See Affordable Housing Plan, Attachment A.
(D) The amount of payments obligated to be made, by month, through April 2012: $0.00. The
Marin Housing Authority already holds the RDA housing funds.
09959.00000\6849049.6
ATTACHMENT A
AFFORDABLE HOUSING PLAN
1. Affordable Housing Projects and Programs.
A. The Housing Fund monies provided to the Authority under this Agreement must
first be spent to satisfy the Agency's Affordable Housing Requirement.
B. Any funds remaining after the Agency's Affordable Housing Requirement has
been met shall be used to provide moderate, low, very low or extremely low
income units in accordance with state law and the Town's General Plan and
Municipal Code, or to assist with the following types of affordable housing-
related programs:
• Developer Loans for development of affordable rental housing
• First Time Homebuyer Program consistent with Redevelopment Law - including
down payment assistance, equity share or closing cost loans
• Transitional Housing to assist with homeless prevention
• Housing Rehabilitation consistent with Redevelopment Law
A-1
EOPS Attachment 1-18-12.doc