The URL can be used to link to this page

Home My WebLink AboutSA 2025-002 ResolutionCity of Atascadero Resolution No. SA 2025-002 Page 1 of 3 RESOLUTION SA 2025-002 A RESOLUTION OF THE SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF ATASCADERO APPROVING THE LAST AND FINAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE PURSUANT TO HEALTH AND SAFETY CODE SECTION 34191.6 AND TAKING CERTAIN RELATED ACTIONS WHEREAS, Health and Safety Code Section 34191.6(a), the Successor Agency to the Community Redevelopment Agency of Atascadero (the “Successor Agency”) may prepare a proposed Last and Final Recognized Obligation Payment Schedule (“LFROPS”) and submit such LFROPS to the Countywide Oversight Board (the “Oversight Board”) for approval if certain conditions are met; and WHEREAS, Health and Safety Code Section 34191.6(b), the Successor Agency may then submit the Oversight Board-approved LFROPS to the State Department of Finance (“DOF) for review and approval. A copy of the Oversight Board-approved LFROPS must also be submitted to the County Administrative Officer and the County Auditor-Controller, and posted to the Successor Agency’s internet website; and WHEREAS, Health and Safety Code Section 34191.6(c), DOF shall have 100 days to review the LFROPS submitted pursuant to subdivision (b). NOW, THEREFORE, BE IT RESOLVED, by the Successor Agency to the Community Redevelopment Agency of Atascadero: Section 1. The above recitals are true and correct and are a substantive part of this Resolution. Section 2. This Resolution is adopted pursuant to the provisions of Health and Safety Code Section 34191.6. Section 3. The Board hereby finds and determines the following: a) The remaining debt of the Successor Agency is limited to administrative costs and payments pursuant to enforceable obligations with defined payment schedules; and b) All remaining obligations have been previously listed on a Recognized Obligation Payment Schedule and approved for payment by DOF pursuant to subdivision (m) or (o) of Section 34177; and Docusign Envelope ID: FB53A8F3-3A3D-4160-B76A-C432697E072A City of Atascadero Resolution No. SA 2025-002 Page 2 of 3 c) The Successor Agency is not a party to outstanding or unresolved litigation. Section 4. The Board hereby approves the LFROPS, substantially in the form attached hereto as Exhibit A. The Executive Director of the Successor Agency, in consultation with the Successor Agency’s legal counsel, may modify the LFROPS as the Executive Director or the Successor Agency’s legal counsel deems necessary or advisable. Section 5. Staff is hereby authorized and directed to submit a copy of the LFROPS to the Oversight Board for approval. Section 6. Staff is hereby authorized and directed to submit a copy of Oversight Board- approved LFROPS to the DOF, the County Administrative Officer, and the County Auditor- Controller. Section 7. Staff is hereby authorized and directed to post a copy of the Oversight Board- approved LFROPS on the Successor Agency’s Internet website (being a page on the Internet website of the City of Atascadero). Section 8. The officers and the staff 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 requesting additional review by the DOF and an opportunity to meet and confer on any disputed items, and any such actions previously taken by such officers and staff are hereby ratified and confirmed. PASSED AND ADOPTED by the Successor Agency to the Community Redevelopment Agency of Atascadero on the 9th day of September 2025. On motion by Council Member Funk and seconded by Council Member Newsom the foregoing Resolution is hereby adopted in its entirety on the following roll call vote: AYES: Council Member Funk, Newsom, Peek, Mayor Pro Tem Dariz, Mayor Bourbeau NOES: None ABSENT: None ABSTAIN: None Docusign Envelope ID: FB53A8F3-3A3D-4160-B76A-C432697E072A City of Atascadero Resolution No. SA 2025-002 Page 3 of 3 SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF ATASCADERO Charles Borbeau, Mayor ATTEST: Lara K. Christensen, City Clerk Docusign Envelope ID: FB53A8F3-3A3D-4160-B76A-C432697E072A Last and Final Recognized Obligation Payment Schedule (ROPS) - Summary Filed for the July 1, 2026 through June 30, 2041 Period Successor Agency: Atascadero County: San Luis Obispo Initial ROPS Period: 26-27A Final ROPS Period: 40-41B Requested Funding for Enforceable Obligations Total Outstanding Obligation A Enforceable Obligations Funded as Follows (B+C) B Bond Proceeds C Other Funds D Redevelopment Property Tax Trust Fund (RPTTF) (E+F) E RPTTF F Administrative RPTTF G Total Outstanding Obligations (A+D) 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 $- - - $21,445,075 21,070,075 375,000 $21,445,075 Resolution SA 2025-002 Exhibit A Docusign Envelope ID: FB53A8F3-3A3D-4160-B76A-C432697E072A A Period July - December ROPS Period Fund Sources Six-Month Total Bond Proceeds Other Funds RPTTF Admin RPTTF $- $- $10,859,325 $187,500 $11,046,825 ROPS 26-27A - - 633,125 12,500 $645,625 ROPS 27-28A - - 732,950 12,500 $745,450 ROPS 28-29A - - 731,950 12,500 $744,450 ROPS 29-30A - - 730,075 12,500 $742,575 ROPS 30-31A - - 732,525 12,500 $745,025 ROPS 31-32A - - 731,150 12,500 $743,650 ROPS 32-33A - - 731,275 12,500 $743,775 ROPS 33-34A - - 733,000 12,500 $745,500 ROPS 34-35A - - 733,250 12,500 $745,750 ROPS 35-36A - - 729,750 12,500 $742,250 ROPS 36-37A - - 727,875 12,500 $740,375 ROPS 37-38A - - 729,500 12,500 $742,000 ROPS 38-39A - - 727,125 12,500 $739,625 ROPS 39-40A - - 728,650 12,500 $741,150 ROPS 40-41A - - 727,125 12,500 $739,625 B Period January - June Twelve-Month Total ROPS Period Fund Sources Six-Month Total Bond Proceeds Other Funds RPTTF Admin RPTTF $- $- $10,210,748 $187,500 $10,398,248 ROPS 26-27B - - 732,000 12,500 $744,500 $1,390,125 ROPS 27-28B - - 731,000 12,500 $743,500 $1,488,950 ROPS 28-29B - - 729,125 12,500 $741,625 $1,486,075 ROPS 29-30B - - 731,375 12,500 $743,875 $1,486,450 ROPS 30-31B - - 730,000 12,500 $742,500 $1,487,525 ROPS 31-32B - - 730,125 12,500 $742,625 $1,486,275 ROPS 32-33B - - 731,625 12,500 $744,125 $1,487,900 ROPS 33-34B - - 731,875 12,500 $744,375 $1,489,875 ROPS 34-35B - - 728,375 12,500 $740,875 $1,486,625 ROPS 35-36B - - 726,250 12,500 $738,750 $1,481,000 ROPS 36-37B - - 12,500 ROPS 37-38B - - 725,500 12,500 $738,000 $1,480,000 ROPS 38-39B - - 726,750 12,500 $739,250 $1,478,875 ROPS 39-40B - - 728,875 12,500 $741,375 $1,482,525 ROPS 40-41B - - - 12,500 $12,500 $752,125 Atascadero Last and Final Recognized Obligation Payment Schedule (ROPS) - Summary by ROPS Period July 1, 2026 through June 30, 2041 727,875 $740,375 $1,480,750 $21,445,075 Resolution SA 2025-002 Exhibit A Docusign Envelope ID: FB53A8F3-3A3D-4160-B76A-C432697E072A A Item # 10 133 134 135 136 L M 26-27A (Jul-Dec) RPTTF Admin RPTTF $633,125 $12,500 - - 2,500 - - - 630,625 - - - P Q 26-27B (Jan-Jun) RPTTF Admin RPTTF $732,000 $12,500 - - - - 1,750 - 360,250 - 370,000 - T U 27-28A (Jul-Dec) RPTTF Admin RPTTF $732,950 $12,500 - - 2,700 - - - 730,250 - - - X Y 27-28B (Jan-Jun) RPTTF Admin RPTTF $731,000 $12,500 - - - - 1,750 - 341,750 - 387,500 - AB AC 28-29A (Jul-Dec) RPTTF Admin RPTTF $731,950 $12,500 - - 2,700 - - - 729,250 - - - AF AG 28-29B (Jan-Jun) RPTTF Admin RPTTF $729,125 $12,500 - - - - 1,750 - 322,375 - 405,000 - AJ AK 29-30A (Jul-Dec) RPTTF Admin RPTTF $730,075 $12,500 - - 2,700 - - - 727,375 - - - AN AO 29-30B (Jan-Jun) RPTTF Admin RPTTF $731,375 $12,500 - - - - 1,750 - 302,125 - 427,500 - AR AS 30-31A (Jul-Dec) RPTTF Admin RPTTF $732,525 $12,500 - - 2,900 - - - 729,625 - - - Atascadero Last and Final Recognized Obligation Payment Schedule (ROPS) - ROPS Detail July 1, 2026 through June 30, 2041 (Report Amounts in Whole Dollars) A B C D E F G H I Item # Project Name Obligation Type Agreement Execution Date Agreement Termination Date Payee Description Project Area Total Outstaning Obligation $21,445,075 10 Administration Allowance Admin Costs 01/01/2014 06/30/2041 City of Atascadero Administrative expenses for successor agency in accordance with AB1X26 through Bond retiremement including - office expense, postage, legal notices, computer costs, phone costs, operations, professional development, direct staff time, general overhead Atascadero #1 375,000 133 Continuing Disclosure Fees Fees 04/01/2024 10/01/2040 Urban Futures, Inc. Annual Reports per 2024A and 2024B Bonds Continuing Disclosure Agreement Atascadero #1 42,450 134 Bond Trustee Fees Fees 04/01/2024 10/01/2040 Bank of New York Mellon Bond Trustee Fees for 2024A and 2024B Tax Allocation Refunding Bonds Atascadero #1 24,500 135 2024A and 2024B Tax Allocation Refunding Bonds Refunding Bonds Issued After 6/27/ 12 04/01/2024 10/01/2040 Bank of New York Mellon Refunding of 2010 Reimbursement/Bond Financing Agreement and 2004/2005 Redevelopment Bonds Atascadero #1 13,798,125 136 HSC Section 34171(d)(1)(A) Reserves Reserves 04/01/2024 10/01/2040 Bank of New York Mellon Debt Service Reserve Request per 2024 Bond Indenture Atascadero #1 7,205,000 Resolution SA 2025-002 Exhibit A Docusign Envelope ID: FB53A8F3-3A3D-4160-B76A-C432697E072A A Item # 10 133 134 135 136 AV AW 30-31B (Jan-Jun) RPTTF Admin RPTTF $730,000 $12,500 - - - - 1,750 - 280,750 - 447,500 - AZ BA 31-32A (Jul-Dec) RPTTF Admin RPTTF $731,150 $12,500 - - 2,900 - - - 728,250 - - - BD BE 31-32B (Jan-Jun) RPTTF Admin RPTTF $730,125 $12,500 - - - - 1,750 - 258,375 - 470,000 - BH BI 32-33A (Jul-Dec) RPTTF Admin RPTTF $731,275 $12,500 - - 2,900 - - - 728,375 - - - BL BM 32-33B (Jan-Jun) RPTTF Admin RPTTF $731,625 $12,500 - - - - 1,750 - 234,875 - 495,000 - BP BQ 33-34A (Jul-Dec) RPTTF Admin RPTTF $733,000 $12,500 - - 3,125 - - - 729,875 - - - BT BU 33-34B (Jan-Jun) RPTTF Admin RPTTF $731,875 $12,500 - - - - 1,750 - 210,125 - 520,000 - BX BY 34-35A (Jul-Dec) RPTTF Admin RPTTF $733,250 $12,500 - - 3,125 - - - 730,125 - - - CB CC 34-35B (Jan-Jun) RPTTF Admin RPTTF $728,375 $12,500 - - - - 1,750 - 184,125 - 542,500 - A Item # 10 133 134 135 136 CF CG 35-36A (Jul-Dec) RPTTF Admin RPTTF $729,750 $12,500 - - 3,125 - - - 726,625 - - - CJ CK 35-36B (Jan-Jun) RPTTF Admin RPTTF $726,250 $12,500 - - - - 1,750 - 157,000 - 567,500 - CN CO 36-37A (Jul-Dec) RPTTF Admin RPTTF $727,875 $12,500 - - 3,375 - - - 724,500 - - - CR CS 36-37B (Jan-Jun) RPTTF Admin RPTTF $12,500 - - - - 1,750 - - 597,500 - CV CW 37-38A (Jul-Dec) RPTTF Admin RPTTF $729,500 $12,500 - - 3,375 - - - 726,125 - - - CZ DA 37-38B (Jan-Jun) RPTTF Admin RPTTF $725,500 $12,500 - - - - 1,750 - 98,750 - 625,000 - DD DE 38-39A (Jul-Dec) RPTTF Admin RPTTF $727,125 $12,500 - - 3,375 - - - 723,750 - - - DH DI 38-39B (Jan-Jun) RPTTF Admin RPTTF $726,750 $12,500 - - - - 1,750 - 67,500 - 657,500 - DL DM 39-40A (Jul-Dec) RPTTF Admin RPTTF $728,650 $12,500 - - 3,650 - - - 725,000 - - - A Item # 10 133 134 135 136 DP DQ 39-40B (Jan-Jun) RPTTF Admin RPTTF $728,875 $12,500 - - - - 1,750 - 34,625 - 692,500 - DT DU 40-41A (Jul-Dec) RPTTF Admin RPTTF $727,125 $12,500 - - - - - - 727,125 - - - DY 40-41B (Jan-Jun) Admin RPTTF $12,500 - - - - - 128,625 $727,875 Resolution SA 2025-002 Exhibit A Docusign Envelope ID: FB53A8F3-3A3D-4160-B76A-C432697E072A $15,430,000 Successor Agency to the Community Redevelopment Agency of Atascadero Tax Allocation Refunding Bonds, Series 2024A $1,405,000 Successor Agency to the Community Redevelopment Agency of Atascadero Taxable Tax Allocation Refunding Bonds, Series 2024B CONSENT OF INSURER AND AGREEMENT The undersigned is an authorized representative of Build America Mutual Assurance Company (“BAM”), the provider of the Policy for the Insured Obligations, as such terms are defined in the Indenture of Trust dated April 1, 2024 (the “Indenture”), by and between the Successor Agency to the Community Redevelopment Agency of Atascadero (the “Successor Agency”) and The Bank of New York Mellon Trust Company, N.A. (the “Trustee”). As required by paragraph (8) of Exhibit C of the Indenture, BAM has been asked to consent to the filing by the Successor Agency of its Last and Final Recognized Obligation Payment Schedule, pursuant to Section 34191.6 of the California Health and Safety Code, in the form attached to this Consent as Exhibit A. Consent is hereby granted to the Successor Agency to submit its Last and Final Recognized Obligation Payment Schedule to the Oversight Board and the Department of Finance for approval. As consideration for this approval, the Successor Agency agrees that it will not, without the prior written consent of BAM, approve or submit for approval by the San Luis Obispo Countywide Oversight Board or the State of California Department of Finance the final amendment permitted for any Last and Final Recognized Obligation Payment Schedule pursuant to Section 34191.6 of the California Health and Safety Code. BAM is granting this consent on its own behalf, and not on behalf of any person or party. In addition, BAM makes no representation as to whether the consent of any person or party is required in connection with the forgoing. Initially capitalized terms used herein without definition have the meanings set forth in the Indenture. Dated: ______________________ BUILD AMERICA MUTUAL ASSURANCE COMPANY By: ________________________________ Authorized Representative Resolution SA 2025-002 Exhibit B August 11, 2025 Docusign Envelope ID: FB53A8F3-3A3D-4160-B76A-C432697E072A