RDA Resolution No. 12-01 Amended Enforceable Obligation Payment Schedule Attachment A
RESOLUTION NO. 12- 01
RESOLUTION OF THE CITY OF CUPERTINO REDEVELOPMENT
AGENCY APPROVING AND A'.DOPTING AN AMENDED
ENFORCEABLE OBLIGATION PAYMENT SCHEDULE PURSUANT TO
PART 1.8 OF THE REDEVELOPMENT LAW
WHEREAS, pursuant to the California Community Redevelopment Law (Health and Safety
Code Section 33000 et seq.; the "Redevelopment Law"), the City Council (the "City Council") of the
City of Cupertino (the "City") adopted in accordance with the Redevelopment Law, Ordinance No.
1850, on August 21, 2000, adopting the Redevelopment Plan for the Cupertino Vallco Redevelopment
Project Area(the "Redevelopment Plan"), as amended from time to time; and
WHEREAS, the City of Cupertino Redevelopment Agency(the "Agency") is responsible for
implementing the Redevelopment Plan pursuant to the Redevelopment Law; and
WHEREAS, Section 34169 of the California Redevelopment Law provides that the Agency
may adopt an Enforceable Obligation Schedule listing all of the obligations that are enforceable
within the meaning of Section 34167(d) of the Redevelopment Law and to designate an official of the
Agency whose responsibility shall be to provide information and documentation for items listed in
the Enforceable Obligation Payment Schedule; and
WHEREAS, the Agency Board passed and adopted Resolution 11-04 on August 16, 2011
approving and adopting an Enforceable Obligation Payment Schedule; and
WHEREAS, as further set forth in the staff report (Exhibit 1) accompanying this Resolution
(the "Staff Report"), the Agency has prepared an amended schedule (Exhibit 2) setting forth all of the
obligations which the Agency has determined are enforceable obligations under Section 34167(d) of
the Redevelopment Law (the "Amended Enforceable Obligation Payment Schedule"); and
WHEREAS under Title 14 of the California Code of Regulations, Section 15378(b)(4), the
approval of this Amended Enforceable Obligation Payment Schedule is exempt from the
requirements of the California Environmental Quality Act("CEQA") in that it is not a project, but
instead consists of the continuation of an existing governmental funding mechanism for potential
future projects and programs, and does not commit fiends to any specific project or program, because
it merely lists enforceable obligations previously entered into and approved by the Agency; and
WHEREAS, the Agency Board has reviewed and duly considered the Staff Report, the
proposed Amended Enforceable Obligation Payment Schedule, and documents and other written
evidence presented at the meeting.
NOW, THEREFORE, BE IT RESOLVED,that the Agency Board finds that the above
Recitals are true and correct and have served, together with the supporting documents, as the basis for
the findings and approvals set forth below.
BE IT FURTHER RESOLVED,that the Agency Board finds, under Title 14 of the California
Code of Regulations, Section 15378(b)(4), that this Resolution is exempt from the requirements of
394\08\1022899,I
the California Environmental Quality Act(CEQA) in that it is not a project. The Agency Board
therefore directs that a Notice of Exemption be filed with the County Clerk of the County of Santa
Clara in accordance with the CEQA guidelines.
BE IT FURTHER RESOLVED,that the Agency Board hereby approves and adopts the
Amended Enforceable Obligation Payment Schedule.
BE IT FURTHER RESOLVED, that the Agency Board authorizes and directs the Agency's
Executive Director or the Executive Director's designee to: (1) post the Amended Enforceable
Obligation Payment Schedule on the Agency and the City's websites, (2) designate an Agency
representative to whom all questions related to the Amended Enforceable Obligation Payment
Schedule can be directed, (3) notify, by mail or electronic means, the County Auditor-Controller,the
Department of Finance, and the State Controller of the Agency's action to adopt the Amended
Enforceable Obligation Payment Schedule and to provide those persons with the internet website
location of the posted schedule and the contact information for the Agency's designated contact; and
(4)to take such other actions and execute such other documents as are appropriate to effectuate the
intent of this Resolution and to implement the Amended Enforceable Obligation Payment Schedule
on behalf of the Agency.
BE IT FURTHER RESOLVED, that this Resolution shall take immediate effect upon
adoption.
PASSED AND ADOPTED at a regular meeting of the City of Cupertino Redevelopment
Agency on this 10th day of January, 2012 by the following vote:
Vote: Members of the Redevelopment Agency
AYES: Santoro, Chang, Sinks, Wong
NOES: None
ABSENT: Mahoney
ABSTAIN: None
ATTEST: APPROVED:
Grace Schmidt, Agency Secretary Mark Santoro, Agency Chairperson
2
394\08\1022899 1
Exhibit 1
rlik/ COMMUNITY DEVELOPMENT DEPARTMENT
CITY HALL
�S
Z.I9s� 10300 TORRE AVENUE•CUPERrINO,CA 95014-3255
C O P E RT I N O TELEPHONE: (408)777-3308 www.cupertino.org
REDEVELOPMENT AGENCY STAFF REPORT
Meeting: January 10, 2012
Subject
Approval of Amended Redevelopment Agency Enforceable Obligations Payment Schedule.
Recommended Action
Adopt Amended Redevelopment Agency Enforceable Obligations Payment Schedule as per Resolution No. 12-_
•
Discussion
The Agency Board adopted, on August 16, 2011, an Enforceable Obligations Payment Schedule (EOPS) that is
required from redevelopment agencies that are dissolving with outstanding agreements. An enforceable
obligation schedule allows existing contracts and obligations to be paid out of taxes formerly going to the
Agency. Upon an analysis of the dissolution law that revealed the availability of additional funds for
administration, the Agency desires to amend its EOPS in order to add administrative obligations such as
employee, legal, advisory, and audit services.
The resulting Amended EOPS includes the Agency agreements with the Vallco Shopping Mall and the Santa
Clara County Housing Trust approved by the Agency Board in February 2011. Those agreements cover the
purchase and installation of trash capture devices and street improvements near the Vallco Parkway parking
structure through 2014 and grants up to $250,000 per year for the next fifteen years to the Housing Trust for
affordable housing purposes. The associated employee, legal, advisory, and audit services to administer these
obligations for the next fifteen years are now added to the schedule. The required payments to the County,
schools and special districts over the remaining life of the Agency that were on the original schedule continue to
be shown on the amended schedule. While the original schedule showed payments for the six months previous
to this meeting, this amended schedule is updated to reflect:payments for the upcoming six months.
After adoption,the schedule will be posted on the City's website.
Fiscal Impact
Current year obligations are budgeted. Future obligations will be budgeted based on available funds from the
former Redevelopment Agency.
Prepared by: David Woo, Finance Director
Reviewed by: Carol Atwood, Director of Administrative Services
Approved for Submission by: David W. Knapp, City Manager
Attachments: Draft Resolution
Amended Enforceable Obligations Payment Schedule
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