RDA Resolution No. 12-05 New Enforceable Obligation Payment Schedule RESOLUTION NO. 12-05
RESOLUTION OF THE CITY OF CUPERTINO SUCCESSOR TO
REDEVELOPMENT AGENCY APPROVING AND ADOPTING THE
NEW ENFORCEABLE OBLIGATION PAYMENT SCHEDULE
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 "former Agency") was
responsible for implementing the Redevelopment Plan pursuant to the Redevelopment Law; and
WHEREAS, AB xl 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, after August 29, 2011,
the Successor Agency can only make payments on enforceable obligations after the former
Agency adopts an enforceable obligation payment schedule listing all of the obligations that are
enforceable within the meaning of the Redevelopment Restructuring Acts (the "Enforceable
Obligation Payment Schedule"); and
WHEREAS, as further set forth in the staff report accompanying this Resolution (the
"Staff Report"), under the terms of various former Cupertino Redevelopment Agency contracts
and obligations, the former Agency was required to make payments on its enforceable
obligations after August 29, 2011; and
WHEREAS, the Successor Agency has rescinded a previously adopted Enforceable
Obligation Payment Schedule for August 2011 through December 2011; and
WHEREAS, to avoid defaulting under its enforceable obligations, the Successor Agency
desires to adopt a new Enforceable Obligation Payment Schedule for August 2011 through
December 2011; and
WHEREAS under Title 14 of the California Code of Regulations, Section 15378(b)(4),
the approval of this 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 funds to any specific project or program, because it
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Resolution No. 12-05
merely lists enforceable obligations previously entered into and approved by the former
Cupertino Redevelopment Agency; and
WHEREAS, the Successor Agency Board has reviewed and duly considered the Staff
Report, the proposed new Enforceable Obligation Payment Schedule, and documents and other
written evidence presented at the meeting.
NOW, THEREFORE, BE IT RESOLVED, that the Successor 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 Successor 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 the California Environmental Quality Act (CEQA) in that it is not a project. The
Board therefore directs that a Notice of Exemption be filed with the County Clerk of the County
of Santa Clara in accordance with CEQA guidelines.
BE IT FURTHER RESOLVED,that the Successor Agency Board hereby approves and
adopts the new Enforceable Obligation Payment Schedule.
BE IT FURTHER RESOLVED, that the Successor Agency Board authorizes and directs
the Successor Agency's Executive Director or the Executive Director's designee to take such
other actions and execute such other documents as are appropriate to effectuate the intent of this
Resolution and to implement the Enforceable Obligation Payment Schedule on behalf of the
Successor Agency.
BE IT FURTHER RESOLVED, that this Resolution shall take immediate effect upon
adoption.
PASSED AND ADOPTED at a special meeting of the Successor to Redevelopment
Agency Board on the 21`h 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:
eitX.CUL.SZI(VIA kat
Grace Schmidt, Secretary Mark Santoro, Chairperson
2
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Name of Redevelopment
Agency: Cupertino Redevelopment Agency Page 1 of 1 Pages
Project Area(s) All
ENFORCEABLE OBLIGATION PAYMENT SCHEDULE - Amended August 21, 2012
Per AB 26 -Section 34167 and 34169 (`)
Project Name/ Total Total Due Payments by Month
Outstanding Debt During Fiscal
Debt Obligation Payee Description or 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 projects and programs in City
2) Affordable Housing Agreement Clara County affordable housing plan 124,500.00 124,500.00 $ -
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 0.00 $ -
Repayment of Loan for Public
Loan and Repayment Improvement,Administrative,
4) Agreement City of Cupertino and Other Costs 1,315,000.00 1,315,000.00 1.315,000.00 $ 1,315,000.00
5) $
6) $
7) $ -
Totals-This Page $ 2,084,844.89 $ 1,439,500.00 $ 1,315,000.00 $ - $ - $ - $ - $ 1,315,000.00
Totals-Page 2 $ - $ - $ - $ - $ - $ - $ - $
Totals-Page 3 $ - $ - $ - $ - $ - $ - $ - $ -
Totals-Page 4 $ - $ - $ - $ - $ - $ - $ - $
Totals-Other Obligations $ - _$ - $ - _$ - $ - $ - -$ - $
Totals-All Pages I $ 2.084,844.89 $ 1,439,500.00 $ 1,315,000.00 $ - $ - $ - $ - 1$ 1,315,000.00
* 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
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 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.
Name of
Redevelopment
Agency: Cupertino Redevelopment Agency Page 1 of 1 Pages
Project Area(s) All
OTHER OBLIGATION PAYMENT SCHEDULE - AMENDED AUGUST 21, 2012
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) 0 00 0.00 $ -
2) 000 000 $ -
3) 0.00 0 00 $ -
4) 0.00 0 00 $ -
5) 0.00 0.00 $ -
6) 0.00 0.00 $ -
7) 0.00 0.00 $ -
8) 0.00 0.00 $
9) 0.00 0.00 $ -
10) 0.00 0.00 $ -
11) 0.00 0.00 S -
12) 0.00 0.00 $ -
13) 0 00 0.00 $ -
14) 0.00 0.00 $ -
15) S -
16) $ -
17) $ -
18) $ -
19) $ -
20) $ -
Totals-Other Obligations I$ - $ - $ - $ - $ - 1 $ - I $ - $ -
* 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 9/30/11.(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