20230207 Sucessor Aagency to the Redevelopment Agency Agenda PacketRegular Successor Agency Meeting Agenda February 7, 2023
Page 1 of 2
Agenda
City of Vernon
Regular Successor Agency Meeting
Tuesday February 7, 2023, 9:00 AM
City Hall, Council Chamber
4305 Santa Fe Avenue, Vernon California
Leticia Lopez, Chair
Crystal Larios, Vice Chair
Judith Merlo, Member
Melissa Ybarra, Member
MEETING ATTENDANCE PROTOCOLS
Assembly Bill 361 (AB 361) authorizes public meetings to take place via teleconference because
State and Local officials are recommending measures to promote social distancing. Meetings are
conducted in a hybrid format that includes both in-person and Zoom public participation.
The public is encouraged to view the meeting at https://www.cityofvernon.org/webinar-cc or by
calling (408) 638-0968, Meeting ID 819-0357-6442#. You may address the Agency via Zoom or
submit comments to PublicComment@cityofvernon.org with the meeting date and item number in
the subject line.
CALL TO ORDER
FLAG SALUTE
ROLL CALL
APPROVAL OF AGENDA
PUBLIC COMMENT
At this time the public is encouraged to address the Successor Agency on any matter that is within
the subject matter jurisdiction of the Successor Agency. The public will also be given a chance to
comment on matters which are on the posted agenda during Successor Agency deliberation on those
specific matters.
Regular Successor Agency Meeting Agenda February 7, 2023
Page 2 of 2
CONSENT CALENDAR
All matters listed on the Consent Calendar are to be approved with one motion. Items may be
removed from the Consent Calendar for individual consideration. Removed items will be considered
immediately following the Consent Calendar.
1. Meeting Minutes
Recommendation:
Approve the June 21, 2022 Special Successor Agency to the Redevelopment Agency meeting
minutes.
2. Recognized Obligation Payment Schedule for the Period of July 1, 2023 through June
30, 2024
Recommendation:
A. Receive and file the Recognized Obligation Payment Schedule (ROPS) of the Successor
Agency of the Former Redevelopment Agency of the City of Vernon for the period July 1, 2023
through June 30, 2024; and
B. Authorize Successor Agency staff to provide any additional requested information to the
Los Angeles County Auditor-Controller and/or California Department of Finance to
substantiate the information contained in the ROPS and effectuate said schedule.
ORAL REPORTS
3. Brief Reports, Announcements, or Directives to Staff
ADJOURNMENT
On January 31, 2023, the foregoing agenda was posted in accordance with the applicable legal
requirements. Regular and Adjourned Regular meeting agendas may be amended up to 72 hours
and Special meeting agendas may be amended up to 24 hours in advance of the meeting.
Successor Agency to the Redevelopment Agency Agenda Report
Meeting Date:February 7, 2023
From:Lisa Pope, City Clerk
Department:City Clerk
Submitted by:Sandra Dolson, Administrative Secretary
Subject
Meeting Minutes
Recommendation
Approve the June 21, 2022 Special Successor Agency to the Redevelopment Agency meeting
minutes.
Background
Staff has prepared and submits the minutes for approval.
Fiscal Impact
There is no fiscal impact associated with this report.
Attachments
1. June 21, 2022 Special Successor Agency Meeting Minutes
Item 1 Page 1 of 3
MINUTES
VERNON SUCCESSOR AGENCY TO THE
REDEVELOPMENT AGENCY
SPECIAL MEETING
TUESDAY, JUNE 21, 2022
COUNCIL CHAMBER, 4305 SANTA FE AVENUE
CALL TO ORDER
Chair Lopez called the meeting to order at 9:04 a.m.
FLAG SALUTE
Chair Lopez led the Flag Salute.
ROLL CALL
PRESENT:
Leticia Lopez, Chair (via remote access)
Crystal Larios, Vice Chair
William Davis, Member
Judith Merlo, Member
Melissa Ybarra, Member
STAFF PRESENT:
Carlos Fandino, City Administrator
Zaynah Moussa, Interim City Attorney
Lisa Pope, City Clerk
Scott Williams, Finance Director
APPROVAL OF THE AGENDA
MOTION
Member Ybarra moved and Vice Chair Larios seconded a motion to approve the
agenda. The question was called and the motion carried unanimously.
PUBLIC COMMENT
None.
CONSENT CALENDAR
MOTION
Member Ybarra moved and Member Davis seconded a motion to approve the
Consent Calendar. The question was called and the motion carried unanimously.
Item 1 Page 2 of 3
Special Successor Agency to the Redevelopment Agency Meeting Minutes Page 2 of 2
June 21, 2022
The Consent Calendar consisted of the following items:
1.Approval of Minutes
Recommendation: Approve the June 7, 2022 Special Successor Agency to the
Redevelopment Agency meeting minutes.
2.2022 Refunding Tax Allocation Bonds
Recommendation: Adopt Resolution No. SA-30 amending Resolution No. SA-28
regarding the issuance and sale of tax allocation refunding bonds, and authorizing
certain other actions in connection therewith.
ORAL REPORTS
Brief reports, announcements, or directives to staff.
None.
ADJOURNMENT
Chair Lopez adjourned the meeting at 9:08 a.m.
______________________________
LETICIA LOPEZ, Chair
ATTEST:
_____________________________________
LISA POPE, City Clerk
(seal)
Item 1 Page 3 of 3
Successor Agency to the Redevelopment Agency Agenda Report
Meeting Date:February 7, 2023
From:Scott Williams, Finance Director/Treasurer
Department:Finance
Submitted by:Angela Melgar, Finance Manager
Subject
Recognized Obligation Payment Schedule for the Period of July 1, 2023 through June 30, 2024
Recommendation
A. Receive and file the Recognized Obligation Payment Schedule (ROPS) of the Successor
Agency of the Former Redevelopment Agency of the City of Vernon for the period July 1,
2023 through June 30, 2024; and
B. Authorize Successor Agency staff to provide any additional requested information to the
Los Angeles County Auditor-Controller and/or California Department of Finance to
substantiate the information contained in the ROPS and effectuate said schedule.
Background
Pursuant to Senate Bill 107, the Successor Agency must submit an annual Recognized
Obligation Payment Schedule by February 1st of each year to the Los Angeles County Auditor-
Controller and California Department of Finance. The attached ROPS for fiscal year July 1, 2023
through June 30, 2024 was submitted to and approved by the Los Angeles County Oversight
Board at its January 9, 2023 meeting for the First District. Following review by the Successor
Agency, staff will submit the ROPS to the County Auditor-Controller, the State Controller, and
the California Department of Finance.
Fiscal Impact
The Successor Agency is requesting $4,209,903 in Redevelopment Property Tax Fund monies
for its enforceable obligation payments during Fiscal Year 2023-24.
Attachments
1. Resolution No. OB-50 and 2023-24 ROPS
Item 2 Page 1 of 10
Item 2 Page 2 of 10
Item 2 Page 3 of 10
EXHIBIT A
Item 2 Page 4 of 10
Item 2 Page 5 of 10
Vernon
Recognized Obligation Payment Schedule (ROPS 23-24) - ROPS Detail
July 1, 2023 through June 30, 2024
A B C D E F G H I J K L M N O P Q R S T U V W
Item
#
Project
Name
Obligation
Type
Agreement
Execution
Date
Agreement
Termination
Date
Payee Description Project
Area
Total
Outstanding
Obligation
Retired
ROPS
23-24
Total
ROPS 23-24A (Jul - Dec)
23-24A
Total
ROPS 23-24B (Jan - Jun)
23-24B
Total
Fund Sources Fund Sources
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
$24,834,748 $4,209,903 $- $- $- $3,590,058 $125,000 $3,715,058 $- $- $- $369,845 $125,000 $494,845
1 Industrial
RP -
Acct.
#276.02
& 99
ANX -
Acct.
#276.03
Fees 02/01/
2012
06/30/2018 Bank
of New
York-
Trustee
See Item 11 Acct.
#276.02
& 99,
ANX -
Acct.
#276.03
- N $- - - - - - $- - - - - - $-
3 Industrial
RP -
Acct.
#276.02
& 99
ANX -
Acct.
#276.03
Bonds
Issued
On or
Before
12/31/10
09/21/
2005
09/01/2035 Bank
of New
York-
Trustee
Series 2005
Principal and/
or Interest on
Bonds
Acct.
#276.02
& 99,
ANX -
Acct.
#276.03
- Y $- - - - - - $- - - - - - $-
4 Industrial
RP -
Acct.
#276.02
& 99
ANX -
Acct.
#276.03
Bonds
Issued
After 12/
31/10
02/15/
2011
09/01/2030 Bank
of New
York-
Trustee
Series 2011
Principal and/
or Interest on
Bonds
Acct.
#276.02
& 99,
ANX -
Acct.
#276.03
- Y $- - - - - - $- - - - - - $-
11 Industrial
RP -
Acct.
#276.02
& 99
ANX -
Acct.
#276.03
Admin
Costs
09/21/
2005
09/01/2035 City of
Vernon
Administrative
cost to wind
down RDA
and outside
counsel legal
fees
Acct.
#276.02
& 99,
ANX -
Acct.
#276.03
250,000 N $250,000 - - - - 125,000 $125,000 - - - - 125,000 $125,000
12 Industrial
RP -
Acct.
#276.02
& 99
ANX -
Acct.
#276.03
Fees 09/21/
2005
09/01/2035 Bond
Logistix
See Item 11 Acct.
#276.02
& 99,
ANX -
Acct.
#276.03
- N $- - - - - - $- - - - - - $-
Item 2 Page 6 of 10
A B C D E F G H I J K L M N O P Q R S T U V W
Item
#
Project
Name
Obligation
Type
Agreement
Execution
Date
Agreement
Termination
Date
Payee Description Project
Area
Total
Outstanding
Obligation
Retired
ROPS
23-24
Total
ROPS 23-24A (Jul - Dec)
23-24A
Total
ROPS 23-24B (Jan - Jun)
23-24B
Total
Fund Sources Fund Sources
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
30 Industrial
RP -
Acct.
#276.02
& 99
ANX -
Acct.
#276.03
Bonds
Issued
After 12/
31/10
07/12/
2022
09/01/2028 Bank
of New
York
Mellon-
Trustee
Series 2022
Principal and/
or Interest on
Bonds
Acct.
#276.02
& 99,
ANX -
Acct.
#276.03
24,584,748 N $3,959,903 - - - 3,590,058 - $3,590,058 - - - 369,845 - $369,845
Item 2 Page 7 of 10
Vernon
Recognized Obligation Payment Schedule (ROPS 23-24) - Report of Cash Balances
July 1, 2020 through June 30, 2021
(Report Amounts in Whole Dollars)
Pursuant to Health and Safety Code section 34177 (l), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other
funding source is available or when payment from property tax revenues is required by an enforceable obligation.
A B C D E F G H
ROPS 20-21 Cash Balances
(07/01/20 - 06/30/21)
Fund Sources
Comments
Bond Proceeds Reserve Balance Other Funds RPTTF
Bonds issued
on or before
12/31/10
Bonds issued
on or after
01/01/11
Prior ROPS
RPTTF and
Reserve
Balances retained
for future
period(s)
Rent, grants,
interest, etc.
Non-Admin
and Admin
1 Beginning Available Cash Balance (Actual 07/01/20)
RPTTF amount should exclude "A" period distribution
amount.
3,338,443 14,190,514 644,166
2 Revenue/Income (Actual 06/30/21)
RPTTF amount should tie to the ROPS 20-21 total
distribution from the County Auditor-Controller
5,039,437 2,322,900 3,589,373
3 Expenditures for ROPS 20-21 Enforceable Obligations
(Actual 06/30/21)
5,218,934 3,724,338 4,233,357
4 Retention of Available Cash Balance (Actual 06/30/21)
RPTTF amount retained should only include the amounts
distributed as reserve for future period(s)
5 ROPS 20-21 RPTTF Prior Period Adjustment
RPTTF amount should tie to the Agency's ROPS 20-21 PPA
form submitted to the CAC
No entry required 1
6 Ending Actual Available Cash Balance (06/30/21)
C to F = (1 + 2 - 3 - 4), G = (1 + 2 - 3 - 4 - 5)
$3,158,946 $12,789,076 $- $- $181
Item 2 Page 8 of 10
Vernon
Recognized Obligation Payment Schedule (ROPS 23-24) - Notes
July 1, 2023 through June 30, 2024
Item # Notes/Comments
1
3 Series 2005 Refunded with 2022 Series Tax Allocation Refunding Bonds
4 Series 2011 Refunded with 2022 Series Tax Allocation Refunding Bonds
11
12
30 Refunded 2005 and 2011 Series Bonds
Item 2 Page 9 of 10
Annual Budget Funding Source
Administrative Costs:
Legal, Financial Advisory/Continuing Disclosure, Audit, and Banking 50,000.00$ RPTTF Administrative Allowance
Administrative Overhead:
Utilities, Supplies, Equipment, Risk Management/Insurance, and
Property Maintenance 40,000.00 RPTTF Administrative Allowance
Salaries and Benefits 160,000.00 RPTTF Administrative Allowance
Total Budget 250,000.00$
The Successor Agency to the Former Redevelopment Agency of the City of Vernon
Administrative Costs Budget
Fiscal Year 2023‐2024
Item 2 Page 10 of 10