RDA Resolution No. 12-04 Rescinding Redevelopment Agency Resolution 11-04 RESOLUTION NO. 12-04
RESOLUTION OF THE CITY OF CUPERTINO SUCCESSOR TO
REDEVELOPMENT AGENCY RESCINDING REDEVELOPMENT
AGENCY RESOLUTION 11-04
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, AB lx 26 (the "Dissolution Act") and AB 1484 (the "Redevelopment
Dissolution/Unwind Trailer Bill", and together with the Dissolution Act, the "Redevelopment
Restructuring Acts") have been enacted to significantly modify the Redevelopment Law; and
WHEREAS, the City of Cupertino is acting as the Successor to the Redevelopment
Agency (the "Successor Agency") under the Redevelopment Restructuring Acts; and
WHEREAS, pursuant to the Redevelopment Restructuring Acts, the Cupertino
Redevelopment Agency approved and adopted an Enforceable Obligation Payment Schedule for
August 2011 through December 2011 under Redevelopment Agency Resolution 11-04 on
August 16, 2011; and
WHEREAS, pursuant to a review done by the County of Santa Clara, the Successor
Agency desires to rescind Redevelopment Agency Resolution 11-04.
NOW, THEREFORE, BE IT RESOLVED, that the Successor to the Redevelopment
Agency Board hereby rescinds Redevelopment Agency Resolution 11-04.
BE IT FURTHER RESOLVED, that this rescinding Resolution shall take immediate
effect upon adoption.
PASSED AND ADOPTED at a special meeting of the Successor to Redevelopment
Agency Board on the 21th day of August, 2012 by the following vote:
Vote: Members of the Successor to Redevelopment Agency
AYES: Santoro, Mahoney, Chang, Sinks, Wong
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST: APPROVED:
C, (
Grace Schmidt, Secretary Mark Santoro, Chairperson
Name of Redevelopment
Agency Cupertino Redevelopment Agency Page 1 of 1 Pages
Project Area(s) All
ENFORCEABLE OBLIGATION PAYMENT SCHEDULE
Per AB 26 -Section 34167 and 34169(*)
Project Name/ Total Outstanding Total Due y y
Debt or During Fiscal Pa ments b Month
Debt Obligation Payee Description Obligation Year Aug" Sept Oct Nov Dec Total
Reimburse developer for public
infrastructure improvements
Public Infrastructure and installation of trash capture
1)Agreement Vallco Shopping Mall LLC devices 635,000.00 0.00 $ - _
Grant for affordable housing
Housing Trust of Santa Clara projects and programs in City
2)Affordable Housing Agreement County affordable housing plan 3,750,000.00 250,000.00 $ -
Agreement for Local Agency
Participation in Grant-Funded
Bay Area Trash Capture Association of Bay Area Purchase of trash capture
3) Demonstration Project Governments devices 10,344.89 10,344.89 $ -
4) $ -
5) $ -
6) $ -
7) $ -
8) $ -
9) $
Totals-This Page $ 4,395,344.89''a 260,344.39 3 - '$ - '5 - .a - ' 3 - $ -
Totals-Page 2 $ - $ - $ - $ - $ - $ - $ - $ -
Totals-Page 3 $ - $ - $ - $ - $ - S - S - S -
Totals-Page 4 $ - $ - S - $ - $ - $ - $ - $ -
Totals-Other Obligations $ 33,076,234.89 _$ 137,066.77 $ - _S - _$ - _S 9,210.89 $ 56,592.12 $ 65,803.01
Totals-All Pages $ 37,471,579.78 $ 397,411.66 $ - 5 - $ - S 9,210.89 $ 56,592.12 $ 65,803.01
* This Enforceable Obligation Payment Schedule(EOPS)is to be adopted by the redevelopment agency no later than late August It is valid through 12/31/11.It is the basis for the Prelimii
Recognized Obligation Payment Schedule(ROPS),which must be prepared by the dissolving Agency by 9/30/11.(The draft ROPS must be prepared by the Successor Agency by 11130/•
If an agency adopts a continuation ordinance per ABX1 27,this EOPS will not be valid and there is no need to prepare a ROPS.
* I
*Include only payments to be made after the adoption of the EOPS.
Name of
Redevelopment
Agency: Cupertino Redevelopment Agency Page 1 of 1 Pages
Project Area(s) All
OTHER OBLIGATION PAYMENT SCHEDULE
Per AB 26-Section 34167 and 34169(*)
Project Name/ Total Outstanding Total Due During Payments by month
Debt Obligation Payee Description Debt or Obligation Fiscal Year"' Aug"' Sept Oct Nov"' Dec"' Total
1) Statutory Payments Santa Clara County Payments per CRL 33607.5 and.7 7,921,967.70 32,828.36 2,206.07 13,554.17 $ 15,760.24
Santa Clara County
2) Statutory Payments Library Payments per CRL 33607.5 and.7 1,423,671.68 5,899.65 396.46 2,435.85 $ 2,832.31
3) Statutory Payments City of Cupertino Payments per CRL 33607.5 and.7 739,586.20 3,064.82 205.96 1,265.40 $ 1,471.36
Cupertino Union
4) Statutory Payments Elementary Payments per CRL 33607.5 and.7 8,170,991.45 33,860.31 2,275.41 13,980.24 S 16,255.65
5) Statutory Payments Fremont Union High Payments per CRL 33607.5 and.7 5,518,111.80 22,866.86 1,536.65 9,441.27 S 10,977.92
Foothill-DeAnza
6) Statutory Payments Community College Payments per CRL 33607.5 and.7 2,106,479.47 8,729.18 586.60 3,604.10 $ 4,190.70
7) Statutory Payments County School Service Payments per CRL 33607.5 and.7 1,027.796.38 4,259.15 286.21 1,758.52 $ 2,044.73
Central Fire Protection
8) Statutory Payments District Payments per CRL 33607.5 and.7 4,991,621.76 20,685.11 1,390.04 8,540.47 $ 9,930.51
Midpeninsula Regional
9) Statutory Payments Open Space District Payments per CRL 33607.5 and.7 514,987.14 2,134.09 143.41 881.12 $ 1,024.53
Santa Clara Valley Water
District North Central
10) Statutory Payments Zone Payments per CRL 33607.5 and.7 319,800.18 1,325.24 89.06 547.17 $ 636.23
Santa Clara Valley Water
11) Statutory Payments District Payments per CRL 33607.5 and.7 59,044.79 244.68 16.44 101.02 $ 117.46
Bay Area Air Quality
12) Statutory Payments Management District Payments per CRL 33607.5 and.7 61,184.09 253.54 17.04 104.68 $ 121.72
Santa Clara County
Importation Water-Misc
13) Statutory Payments District Payments per CRL 33607.5 and.7 175,703.88 728.11 48.93 300.62 $ 349.55
Santa Clara Valley Water
14) Statutory Payments District West Zone 4 Payments per CRL 33607.5 and.7 45,288.37 187.67 12.61 77.49 $ 90.10
15) $ -
16) $ -
17) $ -
18) $ _
19) $ -
20) S
Totals-Other Obligations I$ 33,076,234.89 1$ 137,066.77 IS - IS - IS - IS 9,210.89 I$ 56,592.12 I$ 65,803.01
* This Enforceable Obligation Payment Schedule(EOPS)is to be adopted by the redevelopment agency no later than late August It is valid through 12/31/11.It is the basis for the Preliminary Draft
Recognized Obligation Payment Schedule(ROPS),which must be prepared by the dissolving Agency by 9/30111.(The draft ROPS must be prepared by the Successor Agency by 11/30/11.)
If an agency adopts a continuation ordinance per ABX1 27,this EOPS will not be valid and there is no need to prepare a ROPS.
-*Include only payments to be made after the adoption of the EOPS.
***All payment amounts are estimates