HomeMy Public PortalAbout2012.002 - OBLSA (05-02-12)OVERSIGHT BOARD RESOLUTION NO. x'01)''• 00 a
A RESOLUTION OF THE OVERSIGHT BOARD APPROVING A SUCCESSOR
AGENCY ADMINISTRATIVE BUDGET FOR FISCAL YEAR 2012 -13 PURSUANT TO
ABX1 26
WHEREAS, pursuant to the California Community Redevelopment Law (Health
and Safety Code Sections 33000 et seq.), the City Council of the City of Lynwood
( "City ") created the Lynwood Redevelopment Agency ( "Agency "); and
WHEREAS, as part of the 2011 -2012 State budget bill, the California State
Legislature enacted, and the Governor signed, companion bills ABX1 26 and ABX1 27,
which eliminate every redevelopment agency unless the community that created it
adopts an ordinance agreeing to participate in an Alternative Voluntary Redevelopment
Program, which requires the payment of an annual "community remittance" payment;
and
WHEREAS, on December 29, 2011, the California Supreme Court upheld the
constitutionality of ABX1 26 but deemed ABX1 27 unconstitutional, effectively
eliminating all redevelopment agencies in the State of California as of February 1, 2012;
and
WHEREAS, pursuant to ABX1 26, the City Council of the City of Lynwood
adopted Resolution No. 2012.010 on January 10, 2012, affirmatively electing to serve
as the "Successor Agency" to the Agency; and
WHEREAS, ABX1 26 requires the Successor Agency to prepare and submit a
Successor Agency Administrative Budget ( "Administrative Budget ") for approval by an
appointed oversight board, in accordance with Health and Safety Code Section
34177(j); and
WHEREAS, pursuant to ABX1 26, the Successor Agency will be allocated an
Administrative Cost Allowance, as defined in Health and Safety Code Section 34171(b),
which provides for an annual minimum of $250,000 and an annual cap, beginning in
fiscal year 2012 -13, of three percent (3 %) of the total annual allocation of property tax
revenues by the Los Angeles County Auditor - Controller from the Redevelopment
Property Tax Trust Fund to the Successor Agency's Redevelopment Obligation
Retirement Fund for the payment of enforceable obligations contained in the Successor
Agency's Recognized Obligation Payment Schedule ( "ROPS "), prepared and approved
pursuant to Health and Safety Code Section 34177(1); and
WHEREAS, Exhibit "A" to this resolution presents a draft Administrative Budget
of $323,011 for fiscal year 2012 -13.
NOW, THEREFORE, THE OVERSIGHT BOARD DOES HEREBY RESOLVE
AS FOLLOWS:
Section 1. Recitals The Recitals set forth above are true and correct and
incorporated herein by reference.
Section 2. Approval of Proposed Administrative Budget The Oversight
Board hereby approves the Successor Agency Administrative Budget for Fiscal Year
2012 -13, in substantially the form attached hereto as Exhibit "A," as required by ABX1
26, enacted in during the 2011 legislative year.
Section 3. Transmittal to Appropriate Agencies The City Manager is
hereby authorized and directed to submit the first six -month Successor Agency
Administrative Budget and to submit the second six -month Administrative Budget at a
later time, or submit in its entirety the full Fiscal Year 2012 -2013 Administrative Budget
attached hereto as Exhibit "A ", to the Los Angeles County Auditor - Controller.
Section 4. Necessary and Appropriate Adiustments The City Manager
Director is hereby authorized and directed to use his discretion to make necessary and
appropriate adjustments to the Successor Agency Administrative Budget prior to
submittal to the Los Angeles County Auditor - Controller.
PASSED, APPROVED AND ADOPTED this 2 nd day of May, 2012.
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Lei alenzuela
Chair
ATTEST:
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Rhonda Rangel, D puty Clerk
Los Angeles County Board of Supervisors
Acting as Secretary to the Lynwood Oversight Board
2
STATE OF CALIFORNIA }
)SS.
COUNTY OF LOS ANGELES }
I, the undersigned, Secretary to the Oversight Board, do hereby certify that the
foregoing Resolution was passed and adopted by the Oversight Board at a Special
Meeting held on the 2 nd day of May, 2012.
AYES:
NOES:
ABSENT:
ABSTAIN:
Rhonda Rangel, Deputy Clerk
Los Angeles County Board of Supervisors
Acting as Secretary to the Lynwood Oversight Board