HomeMy WebLinkAbout2011-09-13; Housing & Redevelopment Commission; Resolution 5111 RESOLUTION NO. 511
2 A RESOLUTION OF THE HOUSING AND
REDEVELOPMENT COMMISSION OF THE CITY OF
3 CARLSBAD, CALIFORNIA, APPROVING THE
, ENFORCEABLE OBLIGATION PAYMENT SCHEDULE
FOR THE CARLSBAD REDEVELOPMENT AGENCY.
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6 WHEREAS, the City Council of the City of Carlsbad activated the Housing and
7 Redevelopment Commission in October 16, 1979 and declared itself to constitute the
8 Commission for the purposes of implementing redevelopment activities within the City of
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Carlsbad; and
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WHEREAS, the City of Carlsbad and the Housing and Redevelopment
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Commission previously entered into a cooperative agreement to set forth the
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relationships between the City and the Commission which was adopted on February 8,
1980 for the purposes of implementing redevelopment activities within the City of
15 Carlsbad; and
16 WHEREAS, the State of California requires an Enforceable Obligation Payment
17 Schedule per Section 34167 and 34169 of the Health and Safety Code, which regulates
18 reporting requirements of California Redevelopment Agencies, to establish the
1 Q outstanding debt and obligations of the redevelopment Agencies and to set forth a
20 repayment schedule through December, 2011 to continue redevelopment operations
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and implementation activities for both the Village and South Carlsbad Coastal
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Redevelopment Project areas during and following expiration of the effectiveness dates
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for both areas, and as set forth in applicable contracts and agreements; and
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1 WHEREAS, pursuant to previously approved Cooperative and Reimbursement or
2 Repayment Agreements, the Housing and Redevelopment Commission is continuing to
3 perform a public function of the City of Carlsad and may have access to staff and other
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administrative services and facilities of the City, and may accept financial assistance
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from the City to complete redevelopment activities and/or projects for both the Village
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and South Carlsbad Coastal Redevelopment Areas; and
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WHEREAS, the Executive Director of the Carlsbad Redevelopment Agency8
administratively adopted and submitted the Enforceable Obligation Payment Schedule
on behalf of the Agency on August 29, 2011 as an interim measure to meet the required
11 deadline for submission and to create a list from which payments can be made by the
12 Agency after August 29, 2011.
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Commission of the City of Carlsbad, California, as follows:
NOW, THEREFORE, BE IT RESOLVED by the Housing and Redevelopment
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1. That the above recitations are true and correct.
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2. The Housing and Redevelopment Commission does hereby approve the
. Q Enforceable Obligation Payment Schedule set forth as Exhibit 2 to the related1 o
staff report dated September 13, 2011, with the subject Commission approval
20 of said Schedule retroactive to August 29, 2011.
21 3. The Executive Director of the Carlsbad Redevelopment Agency is authorized
22 to submit the Enforceable Obligation Payment Schedule to the State of
23 ,California as approved and adopted by the Housing and Redevelopment
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Commission.
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PASSED, APPROVED AND ADOPTED at a Special Meeting of the Housing and
Redevelopment Commission of the City of Carlsbad on the 13th day of September 2011,
by the following vote to wit:
AYES: Commission Members Hall, Kulchin, Blackburn, Douglas, Packard.
NOES: None
ABSENT: None
ATTEST:
LISA HILDABRAND, Secretary
(SEAL)
^ */ESTABLISHED\\"-,
— Z • * CO —
= ®\ 1970 /§:
Name of Redevelopment Agency:
Project Area(s)
Carlsbad Redevelopment Agency
Village and South Carlsbad Coastal Redevelopment Areas
Page 1 of 1 Pages
ENFORCEABLE OBLIGATION PAYMENT SCHEDULE
Per AB 26 - Section 34167 and 34169 (*)
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Project Name / Debt Obligation
1993 Tax Allocation Refunding Bonds
City of Carlsbad Advances/Loans 1976 to 2003 (Village)
City of Carlsbad Advances/Loans 2003 to 2009 (Village)
City of Carlsbad Advances/Loans 2000 to 201 0 (SCCRA)
City of Carlsbad Loans 201 0 to 2020 (SCCRA)
Public Parking Lot Leases (Village)
Agency General Liability Insurance Costs
Audit Fees
San Diego County Administration Fees (Village)
San Diego County Administration Fees (SCCRA)
Administrative Costs, including employee costs (Village)
Administrative Costs, including employee costs (SCCRA)
Storefront Improvement Grant Program (Village)
New Village Arts - Building Renovation
Oak Yard Repurpose - Strategy and Build
Village Partnership - Organization development
SCCRA Power Plant - Legal Defense against plant
SCCRA Power Plant - Communications
Carlsbad Boulevard Realignment/Property Exchange
Carlsbad Boulevard Realignment/Property Exchange
Low/Mod Set-Aside Fund Administration (Village)
Low/Mod Set-Aside Fund Administration (SCCRA)
Tyler Court Senior Affordable Apartments
Tavarua Senior Affordable Apartment Complex
Education Augmentation Revenue Fund payments
Payee
Bank of New York - Mellon
City of Carlsbad
City of Carlsbad
City of Carlsbad
City of Carlsbad
No. County Transit District
City of Carlsbad
Mayer Hoffman McCann
County of San Diego
County of San Diego
City of Carlsbad & various utilities & vendors
City of Carlsbad & various utilities & vendors
Various business & property owners
City of Carlsbad/General Contractor
City of Carlsbad/General Contractor
Selection of Contrator Pending
Outside Legal Counsel & Expert Consultants
Burge Communications
Fidelity National Title
Various Consultants
City of Carlsbad
City of Carlsbad
Interfaith Housinq Corporation
Meta Housing
City of Carlsbad/County of San Diego/
State of California
Description
Bonds issued to fund non-housing redevelopment projects
Loans for administration & various public pro ects/programs
Loan commitment for pending redevelopment projects; approved 7/7/09
Loans for administration & various public pro ects/programs
Loan commitment for pending redevelopment projects; approved 2/8/1 1
Property leases to provide public parking in Village (to 2019)
Liability Insurance provided through General Fund
Fees for annual required audit of Redevelopment Agency
Administration Fees for collection and distribution of tax increment
Administration Fees for collection and distribution of tax increment
Employee salaries & other costs for Agency (non-housing) admin
Employee salaries & other costs for Agency (non-housing) admin
Grants for businesses/property owners to renovate storefronts
Update & Renovate Agency owned property to house Live Theater
Develop and implement strategy to convert City Yard to ACE Ctr
Contractor organization to coordinate business/property revitalization
Continued participation in CEC proceedings to oppose new project
Consultant assistance for communications - CEC proceedings
Property Title Reports
Preliminary Studies, Design and related activities
Employee salaries & other costs for Agency housing admin
Employee salaries & other costs for Agency housing admin
Management Contract; day-to-day operations of affordable apartments
Construction loan for affordable housing development
Remittance Payments to State/County, subject to Court action
and determination that Carlsbad Redevelopment Agency may
continue operations under voluntary program. No payment to be
made if legislation is held to be invalid by the Supreme Court.
Totals - This Page
Totals - Page 2
Totals - Page 3
Totals - Page 4
Totals - Other Obligations
Grand total - All Pages
Total Outstanding
Debt or Obliqation
13,440,338.00
17,586,802.00
14,400,000.00
7,800,000.00
24,000,000.00
537,560.00
90,200.00
90,000.00
424,135.00
885,000.00
3,820,364.00
17,251,900.00
145,000.00
1,500,000.00
1,000,000.00
1 ,000,000.00
250,000.00
10,000.00
25,000.00
800,000.00
2,767,900.00
4,739,180.00
6,000,000.00
3,750,000.00
1 ,750,000.00
$ 110,623,041.00
$
$
$
$
Total Due During
Fiscal Year
1,038,765.00
1,284,846.00
0.00
0.00
0.00
46,780.00
1,220.00
2,800.00
20,900.00
0.00
316,395.00
228,439.00
145,000.00
500,000.00
100,000.00
200,000.00
250,000.00
5,462.00
22,545.00
800,000.00
75,558.00
49,016.00
461,047.00
3,750,000.00
1 ,400,000.00
$ 9,660,008.00
$
$
$
$
Payments by month
Aug**
0.00
0.00
0.00
0.00
0.00
3,898.00
102.00
0.00
0.00
0.00
26,366.00
19,036.00
0.00
0.00
0.00
0.00
20,000.00
0.00
4,510.00
0.00
6,295.00
4,085.00
38,420.00
0.00
0.00
$ 122,712.00
$
$
$
$
Sept
796,470.00
0.00
0.00
0.00
0.00
3,898.00
102.00
0.00
0.00
0.00
26,366.00
19,036.00
20,000.00
0.00
0.00
0.00
20,000.00
455.00
4,510.00
0.00
6,295.00
4,085.00
38,420.00
0.00
0.00
$ 143,167.00
$
$
$
$
Oct
0.00
0.00
0.00
0.00
0.00
3,898.00
102.00
0.00
0.00
0.00
26,366.00
19,036.00
20,000.00
0.00
0.00
0.00
20,000.00
455.00
4,510.00
88,890.00
6,295.00
4,085.00
38,42000
0.00
0.00
$ 232,057.00
$
$
$
$
Nov
000
0.00
0.00
0.00
0.00
3,898.00
102.00
0.00
0.00
0.00
26,366.00
19,036.00
20,000.00
0.00
0.00
0.00
20,000.00
455.00
4,510.00
88,890.00
6,295.00
4,085.00
38,420.00
0.00
0.00
$ 232,057.00
$$
$
$
$ 110,623,041.00 || $ 9,660,008.00 II $ 122,712.00 || $ 143,167.00 || $ 232,057.00 || $ 232,057.00
Dec
0.00
0.00
0.00
0.00
0.00
3,898.00
102.00
2,800.00
20,900.00
0.00
26,366.00
19,036.00
20,000.00
500,000.00
50,000.00
100,000.00
20,000.00
455.00
4,510.00
88,890.00
6,295.00
4,085.00
38,420.00
1,500,000.00
0.00
$2,405,757.00
$
$
$
$
Total
$796,470.00
$
$
$
$
$ 19,490.00
$ 510.00
$ 2,800.00
$ 20,900.00
$
$ 131,830.00
$ 95,180.00
$ 80,000.00
$ 500,000.00
$ 50,000.00
$ 100,000.00
$ 100,000.00
$ 1,820.00
$ 22,550.00
$ 266,670.00
$ 31,475.00
$ 20,425.00
$ 192,100.00
$1,500,000.00
$
$
$
$
$
$
$
$ 3,135,750.00
$
$
$
$
$2,405,757.00 || $3,135,750.00
* This Enforceable Obligation Payment Schedule (EOPS) has been adopted by redevelopment agency's Executive Director on August 29, 2011.
Source of debt obligations are the 2011 adopted repayment schedules for the Village and SCCRA, approved by the Council and Commission 7/7/09 and 2/8/11 respectively.
** It is also important to note that the City Council and Commssion adopted a voluntary redevelopment program ordinance on August 23, 2011 to continue redevelopment activities, if legislation is upheld by the Supreme Court.