HomeMy WebLinkAboutMINUTES - 06262012 - C.161RECOMMENDATION(S):
1. ADOPT Resolution No. 2012/299 amending specified items on the approved Recognized Obligation Payment
Schedule, January to June 2012 (“First ROPS”); and
2. FIND the First ROPS exempt from the California Environmental Quality Act (CEQA) pursuant to CEQA
Guideline Section 15061(b)(3) of the CEQA Guidelines, and DIRECT the Director of Conservation and Development
to file a Notice of Exemption with the County Clerk and pay the filing fee; and
FISCAL IMPACT:
None to the General Fund. The funds used to increase of the Bond Redemption and Defeasance program are
unallocated bond proceeds.
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
Action of Board On: 06/26/2012 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF SUPERVISORS
AYE:John Gioia, District I Supervisor
Candace Andersen, District II
Supervisor
Mary N. Piepho, District III
Supervisor
Karen Mitchoff, District IV
Supervisor
Federal D. Glover, District V
Supervisor
Contact: Maureen Toms,
674-7878
I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board
of Supervisors on the date shown.
ATTESTED: June 26, 2012
David Twa, County Administrator and Clerk of the Board of Supervisors
By: June McHuen, Deputy
cc:
C.161
To:Successor to the Contra Costa County Redevelopment Agency
From:Steven L. Goetz, Deputy Director-Conservation, Transportation/Redevelopment
Date:June 26, 2012
Contra
Costa
County
Subject:AMEND the First Recognized Obligation Payment Schedule, January to June 2012
BACKGROUND:
On May 22, 2012, the Successor Agency to the Contra Costa County Redevelopment Agency and the Oversight
Board, approved and amended Recognized Obligation Payment Schedule for the period between January 1, 2012
to June 30, 2012 (the “Approved Amended First ROPS”), which was subsequently transmitted to the County
Auditor-Controller, the State Controller and the State Department of Finance (DOF) in accordance with the terms
of the Dissolution Act. On May 31, 2012, the DOF approved the Approved Amended First ROPS requesting
reconsideration of listed exceptions as further described therein.
The Successor Agency finds it necessary to modify the Approved Amended First ROPS to accurately reflect the
amount of bonded debt obligations of the Former Redevelopment Agency which will be defeased pursuant to the
Debt Reduction and Defeasance Program recently implemented by the Successor Agency and the Contra Costa
County Public Finance Authority. Specifically, the Successor Agency desires to modify Line 1 of Page 2 on the
Approved Amended First ROPS to increase the amount of bonded debt being defeased by an additional
$1,400,888 or a total of $23,130,248.
Attached to this Board Order as Exhibit A, incorporated herein by this reference, is a copy of the Approved
Amended First ROPS with only the amendment to Line 1 of Page 2 (the “Proposed Modification to the Approved
Amended First ROPS”), the remainder of the enforceable obligations and recognized obligations listed on the
Proposed Modification to the Approved Amended First ROPS not challenged by the DOF in the May 31, 2012
approval letter each continue to constitute the “Accepted Enforceable Obligations” and each and every of the
Accepted Enforceable Obligations remain in full force and effect and unchanged by the adoption of the
accompanying resolution.
CONSEQUENCE OF NEGATIVE ACTION:
Failure to amend the ROPS to include the final amount of the Bond Redemption and Defeasance Program would
create accounting inconsistencies for the Successor Agency.
CHILDREN'S IMPACT STATEMENT:
None.
ATTACHMENTS
Resolution No. 2012/299
Proposed Amended ROPS