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T r a nsition Issue s Pre se ntatio n to F ORA BOARD No ve mbe - PowerPoint PPT Presentation

T r a nsition Issue s Pre se ntatio n to F ORA BOARD No ve mbe r 17, 2017 S te ve E ndsle y, Assistant E xe c utive Offic e r S he ri Damo n, Pre vailing Wage / Risk Co o rdinato r Ove rvie w 2 nd Vo te Clarific atio n-Que


  1. T r a nsition Issue s Pre se ntatio n to F ORA BOARD No ve mbe r 17, 2017 S te ve E ndsle y, Assistant E xe c utive Offic e r S he ri Damo n, Pre vailing Wage / Risk Co o rdinato r

  2. Ove rvie w  2 nd Vo te  Clarific atio n-Que stio ns  Co mmunity F a c ilitie s Distric t (CF D)  Administra tive L ia bilitie s (Ca lPE RS)  F re que ntly Aske d Que stio ns 11/ 17/ 17 2

  3. 2 nd Vote  Cr e a te sing le e ntity suc c e ssor (JPA)  Se e k e xte nsio n o f CF D/ po we rs fo r suc c e sso r  Utilize Imple me nta tion Agr e e me nt/ Pe r c e ntage assignme nt for jur isdic tion’s fa ir a nd e quita ble c ontr ibution to suc c e ssor to c omple te F ORA pr og r a m 11/ 17/ 17 3

  4. F unding Oblig a tions Re ve nue s E xpe nse s L a nd Sa le s/ Prope rty T a x/ ? $57.5M T r a nspor ta tion CF D $115.5M (Propose d) $51M HCP CF D $46.2M (E ntitle d) $71M Wa te r $17.8M $179.5 M $179.5 M

  5. CF D E xte nsion Options 1. T he re must be a la ng ua g e mista ke o n the e nd da te o f the CF D, do we e ve n ne e d le g isla tio n? A: Ye s. 11/ 17/ 17 5

  6. CF D L a ng ua g e “Pe r Se c tio n 53321(d) o f the Ac t, Spe c ia l T a xe s sha ll no t be le vie d a fte r F isc a l Ye a r 2013-14 o r the te rmina tio n o f F ORA, whic he ve r is la te r, but in no c irc umsta nc e s sha ll the Spe c ia l T a x be le vie d la te r tha n c a le nda r ye a r 2051.” 11/ 17/ 17 6

  7. CF D E xte nsion Options 1. E xte nd F ORA Ac t A. xte nd a nd Ame nd F ORA Ac t to a ddre ss E c o mmunity c o nc e rns, thus e xte nding the c urre nt CF D by c ha ng ing F ORA’ s te rmina tio n da te . F o r E xample : F ORA L ite (o nly me mbe r jurisdic tio ns) F ORA She ll (re ta ining fina nc ing po we rs a nd limite d pa rtic ipa tio n: re duc e d sta ffing ) E limina te una nimo us first vo te rule ? Co nsiste nc y Ove rsig ht Adjustme nt? 11/ 17/ 17 7

  8. CF D E xte nsion Options 1. Vo te and Ame nd Me llo Ro o s 2. T wo I ssue s: a. E nd Da te o f CF D. T he e nd da te a mbig uity is fo und in the fo rma tio n do c ume nts (No tic e o f Spe c ia l T a x a nd Ordina nc e 02-01 a nd 05- 01), it wo uld mo st like ly re quire a vote to fix the a mbig uity a nd e xte nd e nd da te to 2051. b. T ra nsfe r Pro c e ss. I f E nd Da te is e xte nde d a nd F ORA is disso lve d, the Me llo Ro o s sta tute must be a me nde d to pro vide a tra nsfe r pro c e ss fro m F ORA to suc c e sso r(s). 11/ 17/ 17 8

  9. Sa mple Post- 2020 Jur isdic tiona l Oblig a tion/ L ia bility Alloc a tions F O R A Prog ra m F uture Buildout (Buildout) Voting Admin Carme l 8% $ 538,462 Co unty 16% $ 28,720,000 23% $ 1,615,385 CSUMB 0% $ - 0% $ - De l Re y Oaks 13% $ 23,335,000 8% $ 538,462 Marina 37% $ 66,415,000 15% $ 1,076,923 Mo nte re y 0% $ - 8% $ 538,462 Pac ific Gro ve $ - 8% $ 538,462 Salinas $ - 8% $ 538,462 Sand City $ - 8% $ 538,462 Se aside 29% $ 52,055,000 15% $ 1,076,923 UC MBE ST 5% $ 8,975,000 0% $ - T ota ls 100% $ 179,500,000 100% $ 7,000,002 11/ 17/ 17 9

  10. Sa mple Post- 2020 Jurisdic tiona l Administra tive (Ca lPE RS) L ia bility Alloc a tions Vote % $1,000,000 $7,000,000 $0 Carmel 7.69% $76,923.08 $538,461.54 $0.00 County 23.08% $230,769.23 $1,615,384.62 $0.00 CSUMB 0.00% $0.00 $0.00 $0.00 Del Rey Oaks 7.69% $76,923.08 $538,461.54 $0.00 Marina 15.38% $153,846.15 $1,076,923.08 $0.00 Monterey 7.69% $76,923.08 $538,461.54 $0.00 Pacific Grove 7.69% $76,923.08 $538,461.54 $0.00 Salinas 7.69% $76,923.08 $538,461.54 $0.00 Sand City 7.69% $76,923.08 $538,461.54 $0.00 Seaside 15.38% $153,846.15 $1,076,923.08 $0.00 UC MBEST 0.00% $0.00 $0.00 $0.00 11/ 17/ 17 10

  11. F re que ntly Aske d Que stions Update d F r e que ntly Aske d Que stions on F ORA T ra nsition We b Pa g e http:/ / www.for a .or g / T T F / Additiona l/ F ORA_T r a n sitionPlanning- F AQs_Summar y_102417.pdf 11/ 17/ 17 11

  12. 2 nd Vote  Cr e a te sing le e ntity suc c e ssor (JPA)  Se e k e xte nsio n o f CF D/ po we rs fo r suc c e sso r  Utilize Imple me nta tion Agr e e me nt/ Pe r c e ntage assignme nt for jur isdic tion’s fa ir a nd e quita ble c ontr ibution to suc c e ssor to c omple te F ORA pr og r a m 11/ 17/ 17 12

  13. Disc ussion 11/ 17/ 17 13

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