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Home My WebLink AboutRES-SAORA-039 APPROVING ROPS FOR FY 7_1_26 THROUGH 6_30_27RESOLUTION NO. SAORA-039 A RESOLUTION OF THE GOVERNING BOARD OF THE SUCCESSOR AGENCY TO THE ORANGE REDEVELOPMENT AGENCY APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE FISCAL PERIOD FROM JULY 1, 2026, THROUGH JUNE 30, 2027, PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177 AND TAKING CERTAIN RELATED ACTIONS WHEREAS, pursuant to Health and Safety Code Section 34177(o), the Successor Agency to the Orange Redevelopment Agency (the Successor Agency) must prepare a Recognized Obligation Payment Schedule listing the anticipated payments for enforceable obligations to be made by the Successor Agency during the fiscal period from July 1, 2026, through June 30, 2027 (ROPS 26-27) and submit ROPS 26-27 to the oversight board of the Successor Agency(the Oversight Board) for approval; and WHEREAS, pursuant to Health and Safety Code Section 34177(1)(2)(B), at the same time that the Successor Agency submits ROPS 26-27 to the Oversight Board for approval, the Successor Agency must submit a copy of such ROPS 26-27 to the State Department of Finance (the DOF), the County administrative officer, and the County Auditor-Controller; and WHEREAS, pursuant to Health and Safety Code Section 34177(1)(2) and Section 34177 (o)(1), the Successor Agency must: (i) submit the Oversight Board-approved ROPS 26-27 to the DOF, the Office of the State Controller, and the County Auditor-Controller no later than February 1, 2026,and(ii)post a copy of the Oversight Board-approved ROPS 26- 27 on the Successor Agency's website; NOW THEREFORE, BE IT RESOLVED that the Governing Board of the Successor Agency to the Orange Redevelopment Agency does hereby find, determine, resolve, and order as follows: Section 1. The above recitals are true and correct and are a substantive part of this Resolution. Section 2. ROPS 26-27, substantially in the form attached hereto as Exhibit A, is hereby approved. The Executive Director of the Successor Agency,in consultation with the Successor Agency's legal counsel, may modify ROPS 26-27 as the Executive Director or the Successor Agency's legal counsel deems necessary or advisable. Section 3. Staff is hereby authorized and directed to submit a copy of ROPS 26-27 to the Oversight Board for approval and, at the same time, transmit a copy of ROPS 26-27 to the DOF, the County Auditor-Controller and the County administrative officer as designated by the County. Section 4. Staff is hereby authorized and directed to submit a copy of Oversight Board-approved ROPS 25-26 to the DOF,the Office of the State Controller, and the County Auditor-Controller. If the Oversight Board has not approved ROPS 24-25 by February 1, 2026, Staff is hereby authorized and directed to transmit ROPS 26-27 to the DOF, the Office of the State Controller, and the County Auditor-Controller by February 1, 2026, with a written notification regarding the status of the Oversight Board's review. Written notice and information regarding the action of the Oversight Board shall be provided to the DOF by electronic means and in a manner of DOF's choosing. Section 5. Staff is hereby authorized and directed to post a copy of the Oversight Board-approved ROPS 26-27 on the Successor Agency's Internet website (being a page on the Internet website of the City of Orange). Section 6. The officers and other Staff members of the Successor Agency are hereby authorized and directed, jointly and severally, to do any and all things which they may deem necessary or advisable to effectuate this Resolution, including but not limited to requesting additional review by the DOF and an opportunity to meet and confer on any disputed items, and making adjustments to ROPS 26-27 pursuant to the DOF's instructions, and any such actions previously taken are hereby ratified and confirmed. PASSED AND ADOPTED this 13th day of January 2026. el R. Slater, Chairperson ATTEST: Pamela Coleman, Agency Clerk APPROVED AS TO FORM: c)(Afa Nathalie Adourian, Ag orney Attachment: Exhibit A 2 STATE OF CALIFORNIA ) COUNTY OF ORANGE ) CITY OF ORANGE I hereby certify that the foregoing Resolution was duly and regularly adopted by Governing Board of the Successor Agency to the Orange Redevelopment Agency at a regular meeting thereof held on the 13th day of January, 2026 by the following vote: AYES: BOARD MEMBERS: Bilodeau, Barrios,Dumitru,Tavoularis, Gutierrez, Gyllenhammer, Slater NOES: BOARD MEMBERS: None ABSENT: BOARD MEMBERS: None ili/k.cabfrYt-vr__--7—___ -- Pamela Coleman, Agency Clerk I EXHIBIT A SUCCESSOR AGENCY TO THE ORANGE REDEVELOPMENT AGENCY RECOGNIZED OBLIGATION PAYMENT SCHEDULE July 1, 2026—June 30,2027) EXHIBIT A Recognized Obligation Payment Schedule (ROPS 26-27) - Summary Filed for the July 1, 2026 through June 30, 2027 Period Successor Agency: Orange City County: Orange ligurrent Period Requested Funding for Enforceable 26-27A Total 26-27B Total ROPS 26-27 bligations (ROPS Detail) December) ( Janua June) ry Total A Enforceable Obligations Funded as Follows (B+C+D) B Bond Proceeds C Reserve Balance D Other Funds E Redevelopment Property Tax Trust Fund (RPTTF) (F+G) $ 1,879,268 $ 446,495 $ 2,325,763 F RPTTF 1,879,268 435,585 2,314,853 G Administrative RPTTF 10,910 10,910 H Current Period Enforceable Obligations (A+E) 1,879,268 $ 446,495 $ 2,325,763 Certification of Oversight Board Chairman: Name Title Pursuant to Section 34177 (o) of the Health and Safety code, I hereby certify that the above is a true and accurate Recognized Obligation Payment Schedule for the above named successor agency. s/ Signature Date Orange City Recognized Obligation Payment Schedule (ROPS 26-27) - ROPS Detail July 1, 2026 through June 30, 2027 A B C D E F G H I J K L M N 0 P Q R S T U V W ROPS 26-27A (Jul - Dec) ROPS 26-27B (Jan -Jun) Agreement Agreement Total ROPS Item Project Name Obligation Execution Termination Payee Description Project Outstanding Retired 26-27 Fund Sources 26-27A Fund Sources 26-27B Type Date Date Area Obligation Total Bond Reserve Other Admin Total Bond Reserve Other Admin Total Proceeds Balance Funds RPTTF RPTTF Proceeds Balance Funds RPTTF RPTTF 25,631,490 2,325,763 1,879,268 1,879,268 435,585 $10,910 $446,495 4 2008 A&B Admin 05/22/ 09/01/2037 Richards,Watson Bond Orange N and 2014A Costs 2012 Gershon counsel Merged Bonds 61 2008 Tax Bonds 05/01/ 05/01/2038 US Bank To fund Orange 1,312,755 N 658,070 638,385 638,385 19,685 19,685 Allocation Issued 2008 Orange Merged Bonds Series On or Merged & B Before Amended 12/31/10 70 Successor Admin 08/16/ 07/05/2039 various Costs for Orange 106,900 N 10,910 10,910 $10,910 Agency Costs 1983 maintaining Merged Administrative Successor Costs Agency operations 130 2018 Tax Bonds 07/12/ 09/01/2036 US Bank 2018 Bond 24,005,850 N $1,642,600 1,234,400 1,234,400 408,200 408,200 Allocation Issued 2018 Refunding Refunding After 12/ of the 2008 Bonds Series 31/10 Tax A Allocation Bonds, Series A. DOF approved Resolution No. OB-0078 that authorized the bond refunding and issuance. 131 2008B & Admin 06/01/ 09/01/2036 US Bank Fiscal 109,392 N 7,700 7,700 7,700 2018A Bonds Costs 1997 agent fees 132 2008B & Admin 06/01/ 09/01/2036 Willdan Bonds 96,593 N 6,483 6,483 6,483 2018A Bonds Costs 1997 disclosure/ arbitrage fees Orange City Recognized Obligation Payment Schedule (ROPS 26-27) - Notes July 1, 2026 through June 30, 2027 Item# Notes/Comments 1 0 130 131 132 I Orange City Recognized Obligation Payment Schedule (ROPS 26-27) - Report of Cash Balances July 1, 2023 through June 30, 2024 Report Amounts in Whole Dollars) Pursuant to Health and Safety Code section 34177 (I), 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 Fund Sources Bond Proceeds Reserve Balance Other Funds RPTTF ROPS 23-24 Cash Balances Prior ROPS R 07/01/23 - 06/30/24) Bonds issued Bonds issued Rese rve and Comments on or before on or after Reserve Rent, grants, Non-Admin 12/31/10 01/01/11 Balances retained interest, etc. and Admin for future period(s) 1 Beginning Available Cash Balance (Actual 07/01/23) 4,300 1,922,500 4,548,412 42,368 RPTTF amount should exclude "A" period distribution amount. 2 Revenue/Income (Actual 06/30/24) 4,019,802 RPTTF amount should tie to the ROPS 23-24 total distribution from the County Auditor-Controller 3 Expenditures for ROPS 23-24 Enforceable Obligations 1,922,500 3,656,650 Actual 06/30/24) 4 Retention of Available Cash Balance (Actual 06/30/24) 41,164 RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 5 ROPS 23-24 RPTTF Prior Period Adjustment No entry requiredRPTTFamountshouldtietotheAgency's ROPS 23-24 PPA form submitted to the CAC 6 Ending Actual Available Cash Balance (06/30/24) 4,300 4,548,412 364,356 CtoF = (1 + 2 - 3 -4), G = (1 + 2 - 3 -4 - 5)