RES-SAORA-037 RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS) - FY 2024-25RESOLUTION NO. SAORA-037
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, 2024
THROUGH DUNE 30, 2025, 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, 2024 through June 30, 2025
ROPS 24-25) and submit ROPS 24-25 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 24-25 to the Oversight Board for approval,the Successor
Agency must submit a copy of such ROPS 24-25 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 24-25 to the
DOF,the Office of the State Controller, and the County Auditor-Controller no later than February
1, 2024, and (ii) post a copy of the Oversight Board-approved ROPS 24-25 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 24-25, 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 24-25 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 24-25 to
the Oversight Board for approval and, at the same time, transmit a copy of ROPS 24-25 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 24-25 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, 2024, Staff is
hereby authorized and directed to transmit ROPS 24-25 to the DOF, the Office of the State
Controller, and the County Auditor-Controller by February 1, 2024, 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 24-25 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 24-25 pursuant to the DOF's instructions, and any such actions
previously taken are hereby ratified and confirmed.
PASSED AND ADOPTED this 9th day of January 2024.
Daniel R. Slater, Chairperson
ATTEST:
yr\
P.Oa Coleman, Agency Clerk'g Y
APPROVED AS TO FORM:
Mi e4i1iottgenc)TPcorney
Attachment: Exhibit A
Resolution No. SAORA-037 2
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
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 9th day of January 2024, by the following vote:
AYES: BOARD MEMBERS: Barrios, Dumitru, Tavoularis, Bilodeau, Gutierrez,
Gyllenhammer, and Slater
NOES: BOARD MEMBERS: None
ABSENT: BOARD MEMBERS: None
ABSTAIN: BOARD MEMBERS: None
d I a e Ili
P. if Coleman, Agency Clerk 4
Resolution No. SAORA-037 3
EXHIBIT A
SUCCESSOR AGENCY TO THE ORANGE REDEVELOPMENT AGENCY
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
July 1,2024—June 30,2025)
Recognized Obligation Payment Schedule (ROPS 24-25) -Summary
Filed for the July 1, 2024 through June 30, 2025 Period
Successor Agency: Orange City
County: Orange
Current Period Requested Funding for Enforceable
24-25A Total 24-25B Total
ROPS 24-25
Obligations (ROPS Detail) December) (
J
nuary 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) $ 1,561,300 $ 802,855 $ 2,364,155
F RPTTF 1,533,800 775,355 2,309,155
G Administrative RPTTF 27,500 27,500 55,000
H Current Period Enforceable Obligations(A+E) 1,561,300 $ 802,855 $ 2,364,155
Certification of Oversight Board Chairman: c,r e\ 'R. S1o.k-er, U,atrt erson
Name
C
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. sl ins 2—
S. ature Date
MID OM
Orange City
Recognized Obligation Payment Schedule(ROPS 24-25)-ROPS Detail
July 1,2024 through June 30,2025
A i B C D E F G H I J K O I P 0 U V W
BOPS 24-25A(Jul- ROPS 24-258
Agreement Agreement Total ROPS Dec) Jan-Jun)
Item Obligation Project 24-25A 24-25B
Project Name Execution Termination Payee Description OutstandingRetired 24-25 Fund Sources Fund Sources
Type 7 p Area Total Total
Date Date Obligation Total
RPTTF
Admin RPTTF Admin
RPTTF RPTTF
23,088,300 2,364,155 51,533,800$27,500 $1,561,300 $775,355$27,500$802,855
4 2008 A&B Admin 05/22/ 09/01/2037 Richards,Watson Bond counsel Orange 11,500 N $2,000 1,000 $1,000 1,000 $1,000
land 2014A Costs 2012 Gershon Merged
Bonds
61 2008 Tax Bonds 05/01/ 05/01/2038 US Bank To fund Orange Merged&Amended Orange 2,300,000 N $641,655 328,800 - $328,800 312,855 -$312,855
Allocation Issued 2008 Merged
1 Bonds Series On or
B Before
12/31/10
70 Successor Admin 08/16/ 07/05/2039 various Costs for maintaining Successor Agency operations Orange 250,000 N $38,100 19,050 $19,050 19,050 $19,050
Agency Costs 1983 Merged
I Administrative
Costs
128 12014 Tax Bonds 12/04/ 09/01/2023 US Bank 2014 Bond Refunding of the 1997 Tax Allocation Panty Orange Y
Allocation Issued 2014 Bonds,Series A and the 2003 Tax Allocation Refunding Merged
Refunding After 12/ Bonds,Series A.DOF approved Resolution No.
Bonds Series 31/10 OB-0055 that authorized the bond refunding and
i A issuance.
130 2018 Tax Bonds 07/12/ 09/01/2036 US Bank 2018 Bond Refunding of the 2008 Tax Allocation Bonds. 20,375,000 N $1,667,500 1,205,000 1,205.000 462,500 - $462,500
Allocation Issued 2018 Series A.DOF approved Resolution No.OB-0078 that
Refunding After 12/ authorized the bond refunding and issuance.
Bonds Series 31/10
A
131 2008B& Admin 06/01/ 09/01/2036 US Bank Fiscal agent fees 80,400 N $6,500 3,250 $3,250 3,250 $3,250
2018A Bonds Costs 1997
132 2008E& Admin 06/01/ 09/0112036 Willdan Bonds disclosure/arbitrage fees 1 71,400 N $8,400 4,200 $4,200 4,200 $4,200
2018A Bonds Costs 1997
Orange City
Recognized Obligation Payment Schedule(ROPS 24-25)-Report of Cash Balances
July 1,2021 through June 30,2022
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
Prior ROPS
ROPS 21-22 Cash Balances
RPTTF and Comments07/01/21 -06/30/22) Bonds issued Bonds issued
Reserve Rent,grants, Non-Admin
on or before on or after
Balances retained interest,etc. and Admin
12/31/10 01/01/11
for future
period(s)
1 Beginning Available Cash Balance(Actual 07/01/21) 2,494 4 631,420 4,916 El:ROPS 18-19 PPA$495,888; 19-20 PPA
RPTTF amount should exclude'A"period distribution 135,532
amount.
2 Revenue/Income(Actual 06/30/22) 4 12 91,718 5,152,444 G2:ROPS 21-22 approved for distribution
RPTTF amount should tie to the ROPS 21-22 total
distribution from the County Auditor-Controller
3 Expenditures for ROPS 21-22 Enforceable Obligations 2 16 495,888 33,871 5,041,658 G3:E3+G3+G4=$5,640,045 actual
Actual 06/30/22) expense reported in PPA;F3:Interest
received$18,376+Loan Repayment$73,342
4 Retention of Available Cash Balance(Actual 06/30/22) 143,818 8,286 102,500 G4:2014A(3655000/2)21-22B-(3480000/
RPTTF amount retained should only include the amounts 2)20-21 B;2008B(465000/2)21-22B-
distributed as reserve for future period(s) 435000/2)20-21 B
5 ROPS 21-22 RPTTF Prior Period Adjustment
No entry required
8,286 ROPS 21-22 PPA
RPTTF amount should tie to the Agency's ROPS 21-22 PPA
form submitted to the CAC
6 Ending Actual Available Cash Balance(06/30/22) 2,456 8,286) $54,477 S-
C toF•(1+2-3.4),G.(1 +2.3.4.5)
Orange City
Recognized Obligation Payment Schedule (ROPS 24-25) - Notes
July 1, 2024 through June 30, 2025
Item # Notes/Comments
4
61
70
128
130
131
132