HomeMy WebLinkAbout5/30/2012 - STAFF REPORTS - 3.A. OVERSIGHT BOARD
FOR THE SUCCESSOR AGENCY TO THE
PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY
BOARD REPORT
MEETING DATE: May 30, 2012 NEW BUSINESS
TITLE: AUTHORIZING THE ADOPTION OF AMENDMENTS TO THE
RECOGNIZED OBLIGATION PAYMENT SCHEDULES FOR THE
PERIODS OF JANUARY 1, 2012 THROUGH JUNE 130, 2012 AND JULY
1, 2012 THROUGH DECEMBER 31, 2012 IN THE FORM OF AMENDED
RECOGNIZED OBLIGATION PAYMENT SCHEDULES (ROPS)
INITIATED: Department of Community & Economic Development
RECOMMENDATION:
1. Adopt Resolution No. "A RESOLUTION OF THE OVERSIGHT BOARD
OF THE SUCCESSOR AGENCY TO THE PALM SPRINGS COMMUNITY
REDEVELOPMENT AGENCY AUTHORIZING THE ADOPTION OF
AMENDMENTS TO THE RECOGNIZED OBLIGATION PAYMENT SCHEDULES
FOR THE PERIODS OF JANUARY 1, 2012 THROUGH JUNE 30, 2012 AND
JULY 1, 2012 THROUGH DECEMBER 31, 2012 IN THE FORM OF AMENDED
RECOGNIZED OBLIGATION PAYMENT SCHEDULES (ROPS)
2. Direct the Clerk of the Successor Agency to cause the transmission of the
Amended ROPS to the Riverside County Auditor-Controller, the State
Controller's Office, and the State Department of Finance, or alternatively to
provide notice to those entities together with the address of the City's website
and the posting of the ROPS to the City's website.
BACKGROUND AND ANALYSIS:
Under AB X1 26, the Successor Agency to the former Community Redevelopment
Agency was required to approve a "draft" Preliminary Initial Recognized Obligation
Payment Schedule (IROPS). The first IROPS was due by September 30, 2011; the
updated IROPS was due by January 31, 2012 and then was amended in February,
2012. The IROPS listed the minimum amounts that must be paid by the successor
agency over a six (6) month period to fulfill its enforceable obligations during that period,
with the first schedule covering the period from January 1, 2012 to June 30, 2012.
The ROPS is the document used to determine the amount of what was previously called
tax increment the Agency will be allowed to retain on a six month basis as well as the
amount of the Successor Agency's allowable administrative budget: §34177(J)(2). A
ffEl. NO._A
Oversight Board Report
May 30, 2012
Page 2—Approval of Amended ROPS
new Recognized Obligation Payment Schedule must be adopted for each successive
six-month fiscal period. The form of the ROPS is prescribed by the State Department of
Finance and adapted by the Riverside Auditor-Controller's Office.
The established draft initial ROPS covering the period from January 1, 2012 to June 30,
2012 was approved by Oversight Board and submitted to County Auditor, State
Controller's Office and State Department of Finance by April 15, 2012.
The revised ROPS for the six month period July 1, 2012 through December 31, 2012
was due by May 11, 2012 to the State Department of Finance and the County Auditor-
Controller. That ROPS was approved by the Oversight Board on May 1, 2012 and by
the Successor Agency on May 2, 2012 and submitted to the State and County prior to
the deadline.
Finance has completed its review of the ROPS, which included obtaining
clarification for various items. Health & Safety Code Section 34171(d) lists enforceable
obligation (EO) characteristics. Based on a sample of line items reviewed and
application of the law, the State determined that the certain items do not qualify as EOs.
The comments from the State Department of Finance on both ROPS, and staffs
explanation of these items, are as follows:
January through June 2012 ROPS:
• Page 1, line items 5 and 9 - Merged Project #1 totaling $1.9 million and line items 3
and 7, page 4 - Merged Project #2 totaling $1.2 million. Health & Safety Code
Section 34171(d)(2) states that agreements, contracts, or arrangements between
the city that created the redevelopment agency (RDA) and the former RDA are not
enforceable unless the loan agreements were entered into within the first two years
of the date of the creation of the RDA.
• Page 1, line item 26 - Merged Project #1 totaling $3 million. The county deducts
property tax collection fees from the successor agency's tax, increment prior to
distribution. Therefore, this item is not an EO.
• Page 6, line item 3 - Low and Moderate Income Housing Fund Obligations in the
amount of $16 million. The requirement to set aside 20 percent of RDA tax
increment for low and moderate income housing purposes ended,with the passing of
the redevelopment dissolution legislation. Health & Safety Code Section 34177 (d)
requires that all unencumbered balances in the Low and Moderate Income Housing
Fund be remitted to the county auditor controller for distribution to the taxing entities.
Administrative cost claimed exceeds allowance by $230,753. Health & Safety Code
Section 34171(b) limits fiscal year 2011-12 administrative cost allowance to five percent
of the property tax allocated to the successor agency or$250,000, whichever is greater.
Five percent of the property tax allocated is $443,482. Administrative costs claimed
from January to June 2012 totaled $674,235. Therefore, the administrative cost
Oversight Board Report
May 30, 2012
Page 3—Approval of Amended ROPS
allowance for 2011-12 is $443,482. The following line items have been counted towards
the administrative cap allowance:
July through December 2012 ROPS:
• Page 1, line items 5 and 8 - Merged Project #1 totaling $468,406 and page 1, line
item 20 - Merged Project #2 totaling $424,000. Health & Safety Code Section
34171(d)(2) states that agreements, contracts, or arrangements between the city
that created the redevelopment agency (RDA) and the former RDA are not
enforceable unless the loan agreements were entered into within the first two years
of the date of the creation of the RDA.
Except for items disallowed in whole or in part as enforceable obligations noted above,
Finance has approved the remaining items listed in the ROPS for both periods. This is
their determination with respect to any items funded from the Redevelopment Properly
Tax Trust Fund (RPTTF)for the June 1, 2012 property tax allocations.
If the Oversight Board disagrees with the State's determination with respect to any
items not funded with property tax, any future resolution of the disputed issue may be
accommodated by amending the ROPS for the appropriate time period.
Items not questioned during this review are subject to a subsequent review, if they are
included on a future ROPS. If an item included on a future ROPS is not an enforceable
obligation, Finance reserves the right to remove that item from the future ROPS, even if
it was not removed from the preceding ROPS.
Staff recommends the Oversight Board approve the two amended ROPS, for the
current six month period and the next six month period, for transmittal to the State and
County. Given the Oversight Board and City Council schedules, the Oversight Board is
reviewing the ROPS prior to its ratification by the City Council as Successor Agency.
The item is agendized for the Successor Agency for June 6, 2012. The priority,
however, is the Oversight Board approval and not the Successor Agency approval. The
attached resolution makes the Oversight Board's approval subject to the Successor
Agency's adoption in the same form.
As with the prior actions of the Oversight Board, the conclusion of the Successor
Agency audit by the County's external auditor, Brown Armstrong, and any findings, and
any changes to the ROPS based on the audit, would return to the Oversight Board for
review and amendment.
RESOLUTION NO. 008
A RESOLUTION OF THE OVERSIGHT BOARD OF THE
SUCCESSOR AGENCY TO THE PALM SPRINGS COMMUNITY
REDEVELOPMENT AGENCY AUTHORIZING THE ADOPTION
OF AMENDMENTS TO THE RECOGNIZED OBLIGATION
PAYMENT SCHEDULES FOR THE PERIODS OF JANUARY 1,
2012 THROUGH JUNE 30, 2012 AND JULY 1, 2012 THROUGH
DECEMBER 31, 2012 IN THE FORM OF AMENDED
RECOGNIZED OBLIGATION PAYMENT SCHEDULES (ROPS).
WHEREAS, The Community Redevelopment Agency of the City of Palm Springs
("Redevelopment Agency") was a redevelopment agency in the City of Palm Springs
("City"), duly created pursuant to the California Community Redevelopment Law (Part 1
(commencing with Section 33000) of Division 24 of the California Health and Safety
Code) ("Redevelopment Law"); and
WHEREAS, the City Council has adopted redevelopment plans for Palm Springs'
redevelopment project areas, and from time to time, the City Council has amended such
redevelopment plans; and
WHEREAS, the Community Redevelopment Agency was responsible for the
administration of redevelopment activities within the City; and
WHEREAS, AB X1 26 and AB X1 27 were signed by the Governor of California
on June 28, 2011, making certain changes to the Redevelopment Law, including adding
Part 1.8 (commencing with Section 34161) and Part 1.85 (commencing with Section
34170) ("Part 1.85") to Division 24 of the California Health and Safety Code ("Health
and Safety Code"); and
WHEREAS, the California Redevelopment Association and League of California
Cities filed a lawsuit in the Supreme Court of California (California Redevelopment
Association, et al. v. Matosantos, et al. Case No. S194861) alleging'that AB X1 26 and
AB X1 27 were unconstitutional; and
WHEREAS, On December 29, 2011, the Supreme Court issued its opinion in the
Matosantos case largely upholding AB X1 26 as constitutional, invalidating AB X1 27 as
unconstitutional, and holding that AB X1 26 may be severed from AB X1 27 and
enforced independently; and
WHEREAS, The Supreme Court generally reformed and revised the effective
dates and deadlines for performance of obligations under Health and Safety Code Part
1.85 of AB X1 26 arising before May 1, 2012 to take effect four months later, while
leaving the effective dates or deadlines for performance of obligations under Health and
Safety Code Part 1.8 of AB X1 26 unchanged; and
WHEREAS, on February 1, 2012, as a result of the Supreme Court's decision, all
California redevelopment agencies were dissolved, successor agencies were
Resolution No. 008
Page 2
established as successor agencies to the former redevelopment agencies pursuant to
Health and Safety Code Section 34173, and successor agencies are tasked with
paying, performing and enforcing the enforceable obligations of the former
redevelopment agencies and winding down the affairs of the former redevelopment
agencies; and
WHEREAS, on January 4, 2012 the City Council adopted Resolution No. 23071,
declaring itself as the successor agency to the Community Redevelopment Agency of
the City of Palm Springs ("Successor Agency") upon the dissolution of the
Redevelopment Agency; and
WHEREAS, Health and Safety Code Section 34179 establishes a seven (7)
member local entity with respect to each successor agency and such entity is titled the
"Oversight Board of the Successor Agency to the Community Redevelopment Agency
of the City of Palm Springs" (hereinafter referred to as the "Oversight Board"). The
duties and responsibilities of the Oversight Board are set forth in Sections 34179
through 34181 of the Health & Safety Code; and
WHEREAS, Health & Safety Code Section 34177(1) requires the Successor
Agency to prepare a Recognized Obligation Payment Schedule (ROPS) listing the
enforceable obligations of the former Redevelopment Agency; and
WHEREAS, Section 34177(1) also provides that the ROPS (i) shall be reviewed
and certified by the Riverside County Auditor-Controller ("County Auditor-Controller");
(ii) submitted to and duly approved by the Oversight Board; (iii) posted on the
Successor Agency's website; and (iv) submitted to the County Auditor-Controller, the
State Controller and the State Department of Finance ("Department of Finance"); and
WHEREAS, on February 15, 2012 the City Council, acting in its capacity as the
Successor Agency, adopted Resolution No. 23097 approving the Initial ROPS
("IROPS") for the period ending June 30, 2012 pursuant to Heallth & Safety Code
Section 34177(1); and
WHEREAS, the Successor Agency provided the IROPS to the County Auditor-
Controller for their review and certification and also posted the IROPS on the City's
website in accordance with Section 34177(1); and
WHEREAS, on April 3, 2012, the first meeting of the Oversight Board of the
Successor Agency took place and Oversight Board Members were duly sworn into
office; and
WHEREAS, on April 3, 2012 the Oversight Board adopted Resolution No. 005
approving the IROPS for the period ending June 30, 2012 pursuant to Section 34177(1);
and
WHEREAS, on April 12, 2012 the Oversight Board (i) notified the County Auditor-
Controller, the State Controller and the Department of Finance of the Oversight Board's
Resolution No. 008
Page 3
actions approving the IROPS and provided copies of Resolution No. 005 for their
records, and (ii) posted it on the City's website; and
WHEREAS, on May 1, 2012 the Oversight Board adopted Resolution No. 007
approving the ROPS for the period ending December 31, 2012 pursuant to Section
34177(1); and
WHEREAS, on May 9, 2012 the Successor Agency (i) notified the County
Auditor-Controller, the State Controller and the Department of Finance of the Oversight
Board's actions approving the ROPS and provided copies of Resolution No. 007 for
their records, and (ii) posted it on the City's website; and
WHEREAS, on May 14, 2012 the Department of Finance (i) acknowledged
receipt of the Oversight Board-approved ROPS and cited its authority pursuant to
Health and Safety Code Section 34179(h) ("Section 34179(h)") allowing it to request a
review of Oversight Board actions within three (3) business days, and (ii) requested a
review of one or more enforceable obligations contained in the. ROPS, and further
stated that they would contact the Successor Agency within the statutorily required 10
days for further clarification and supporting documentation for the enforceable
obligations in question; and
WHEREAS, on May 27, 2012 the Successor Agency received a letter from the
Department of Finance (i) stating that based on their application of the law, the following
items do not qualify as enforceable obligations: (a) Page 1, line items 5 and 9 (Merged
Project #1) totaling $1.9 million; (b) Page 4, line items 3 and 7 (Merged Project #2)
totaling $1.2 million, because Health & Safety Code Section 34171 (d)(2) states that
agreements, contracts, or arrangements between the city that created the
redevelopment agency (RDA) and the former RDA are not enforceable unless the loan
agreements were entered into within the first two years of the date of the creation of the
RDA; (c) Page 1, line item 26 (Merged Project #1) totaling $3 million, because the
County shall deduct property tax collection fees from the successor agency's tax
increment prior to distribution; (d) Page 6, line item 3 (Low and' Moderate Income
Housing Fund Obligations) in the amount of$1.6 million because the requirement to set
aside 20 percent of RDA tax increment for low and moderate income housing purposes
ended with the passing of the redevelopment dissolution legislation; (e) the
administrative costs claimed by the Successor Agency exceed the Administrative Cost
Allowance by $230,753 because Health & Safety Code Section 34171(f) limits the fiscal
year 2011-12 administrative cost allowance to five percent of the property tax allocated
to the successor agency or $250,000, whichever is greater, which would be $443,482
and the administrative costs claimed from January to June 2012 totaled $674,235; and
WHEREAS, the Successor Agency is currently reviewing the interpretation by the
Department of Finance in reference to the items described as (a) and (b) above, and
desires to work cooperatively with the California Department of Finance and the
Oversight Board; and
WHEREAS, in order to not delay receipt of funds from the County Auditor-
Controller for the approved Items on the ROPS, which funds are necessary in order to
I
Resolution No. 008
Page 4
pay such enforceable obligations, on May 30, 2012, the Oversight Board desires to
approve amendments to the ROPS for the period ending June 30, 2012 and for the
period ending December 31, 2012, and continue to work the Successor Agency while
reviewing the interpretation by the Department of Finance; and
WHEREAS, all other legal prerequisites to the adoption of this Resolution have
occurred.
NOW, THEREFORE, BE IT RESOLVED BY THE OVERSIGHT BOARD OF THE
SUCCESSOR AGENCY OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF PALM SPRINGS AS FOLLOWS:
SECTION 1. The Oversight Board hereby finds and determines that the
foregoing recitals are true and correct.
SECTION 2. The amendments to the two ROPS in the farm of the Amended
ROPS for the periods ending June 30, 2012 and December 31, 2012 which are
attached hereto and incorporated by reference, subject to subsequent ratification
without further amendment by the Successor Agency, is hereby approved and adopted.
SECTION 3. Future resolution of any non-allowed items will be accommodated
and addressed by amending the ROPS for the appropriate time period.
SECTION 4. The Oversight Board may direct staff of the Successor Agency to
perform work in furtherance of the Oversight Board's duties and responsibilities under
AB X1 26
PASSED, APPROVED AND ADOPTED BY THE OVERSIGHT BOARD OF THE
SUCCESSOR AGENCY TO THE PALM SPRINGS COMMUNITY REDEVELOPMENT
AGENCY THIS 30TH DAY OF MAY, 2012.
CHAIRPERSON
ATTEST:
CLERK/SECRETARY
Resolution No. 008
Page 5
CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF PALM SPRINGS )
I, JAMES THOMPSON, Clerk/Secretary, to the Oversight Board of the Successor
Agency to the Palm Springs Community Redevelopment Agency, hereby certify that
Resolution No. 008 is a full, true and correct copy, and was duly adopted at a special
meeting of the Oversight Board on May 30, 2012, by the following vote:
AYES: Board Members Deas, Foat, Marshall, Ready, Van Horn, Vice Chair
Howell and Chair Flavin.
NOES None.
ABSTAIN None.
ABSENT None.
James Thompson, Clerk/Secretary
City of Palm Springs, California
RECOGNIZED OBLIGATION PAYMENT SCHEDULE -CONSOLIDATED
FILED FOR THE JULY 2012 to DECEMBER 2012 PERIOD
Name of Successor Agency City of Palm Springs as Successor Agency to the Community Redevelopment Agency of the City of Palm Springs
Current
Total Outstanding Total Due
Debt or Obligation During Fiscal Year
Outstanding Debt or Obligation $ 137,814,881.15 $ 7,869,006.92
.
Total Due for Six Month Period
Outstanding Debtor Obligation $ 2,682 403 50
Available Revenues other than anticipated funding from RPTTF $ 330,000.00
Enforceable Obligations paid with RPTTF $ 2,227 403 50
Administrative Cost paid with RPTTF $ 125,000.00
Pass-through Payments paid with RPTTF $ EMI'`+'vL
..: .:-'. .... J, X, :K
Administrative Allowance(greater o/3%of anticipated Funding from RPTTF or 250,000.Note:Calculation should not i °ds `tF
include pass-through payments made with RPTTF. The RPTTF Administrative Cost figure above should not exceed this
Administrative Cost Allowance figure) $ 250,000.00
Certification of Oversight Board Chairman:
Pursuant to Section 34177(I)of the Health and Safety code, _
I hereby certify that the aboveis true and accurate Recognized Name Title
Enforceable Payment Schedule for the above named agency.
Signature Date
SUCCESSOR AGENCYADMIN BUDGET
February-June 2012 Annual
STAFF COSTS Budget Source Monthly Feb Mar April May June Total
40000 Regular Employees 206,482 ACA 17,207 17,207 17,207 17,207 17,207 17,207 86,034
Furlough -20,648 ACA (1,721) (1,721) (1,721) (1,721) (1,721) (1,721) (8,603)
41600 P.E.R.S.Contribution 70,992 ACA 5,916 5,916 5,916 5,916 5,916 5,916 29,580
41900 Fringe Benefits 37,976 ACA 3,165 3,165 3,165 3,165 3,165 3,165 15,823
41920 RHS 300 ACA 25 25 25 25 25 25 125
Total Personnel Services 295,102 ACA 24,592 24,592 24,592 24,592 24,592 24,592 122,959
Annual
Budget Source Feb Mar April May June Total
OTHER NON-ACA ADMIN COSTS
49000 Insurance 19,736 ACA 4,934 4,934 9,868
49010 Administrative Charges 292,241 ACA 73,060 73,060 146,121
Materials and Supplies 35,069 ACA 4,054 4,054 4,054 4,054 4,054 20,270
Building Rental 16,000 ACA - - - - - -
43250 Audit Services 11,000 ACA 3,000 3,124 6,124
43220 General Legal Counsel 57,700 ACA 6,656 6,656 6,656 6,656 6,656 33,280
43220 Redevelopment Special Counsel 14,402 ACA - - - - -
43200 Contractual Services ACA
Harrell&Company Advisors 20,000 ACA 5,000 5,000 5,000 5,000 20,000
Harrell&Company Advisors 6,657 ACA 6,657 6,657
49600 Paying Agent/Trustee Fee ACA
Bank of New York Mellon Trus 13,000 ACA 143 143
43960 Property Tax 8,400.00 ACA 4,200 4,200
494,205 103,504 23,034 15,710 88,704 15,710 246,663
Total Administrative Budget Feb-Jun 2012 369,622
Total Recognized Obligations(P.2+P.3) 7,434,716
Percentage of Total 4.97%
*The Administrative Cost Allowance approved by the State of California Department of Finance was$443,482.
Name of Redevelopment Agency: City d Palm Springs as Successor Agency to the Community Redevelopment Agency of the City of Palm Springs FORMA-Redevelopment Property Tax Trust Fund(RPTTF)Pagel
Project Area(s) Merged Project No,i and Merged For act No.2
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26-Section 3417T(')
Payable from the Redevelopment Property Tax Trust Fund(RPTTF)
ConbaNAgreement Total Due During Payments b man
Total Outstanding Fiscal Year Funding
Project Name/Debt Obligation Execution Date Pa e0 Description Project Area Debt or ODli a0on 2012.2013" Source July 2012 A.Q 2012 Se t2012 Oct 2012 Nov 2012 Dec 2012 Total
11 2004 Tax Allocation Refunding Bonds,Series 6/162004 Bank of New York Mellon Trusl Refinance 1994 Tax Allocation Bonds Merged 1789598625 1038427.50 RPTTFI $ -
2 2007 Tax Allocation Bonds Series 9/182007 Bank of New York Mellon True Capital Praise% Merged 1 23960387,52 619225.W RPTTFI $ -
3 2007 Taxable Tax Allocation Bonds Series B 9/182007 Bank of New York Mellon Trusi Property uisition Merged 1 3,85 ,547 71 117 293.10 RPTTF 1 $
4 SERAF Loans 420/107514/11 PalmSprings Housin Succe Loans for FY 2009/10 and 2010111 SERAF Payments Me ed1 5069848.00 1052000.00 RPTTF 1052000.00 $ 1,052,0000
5 Loan 5MM998 Removed by the California Department of Finance Merged 1 0.00 RPTTF $
6 Housin Deferral Rea ent HISS Code Palm Springs Housin Succe Pre-1986 Set Aside Deferral Merged 1 1 1.532.669.00 0.00 1 RPTTF $
] 2004 Convention Center Bonds 6/62007 City of PalmStripes en Contribution to Convention Center Expansion Me edi 29900000.00 7300000.00 RPTTF 650000.00 $ 6%W0.00
8 Agreement for Reimbursement 10/16/1991 Removed by the California Department of Finance Merged t RPTTF $
9 Contract Services -Financial 9222010 Harrell&Company Advisors IMerged 1 Bonds Disclosure/Rating Merged 1 110000.00 5000.00 RPTTF 1 000.00 1 pp0.00
10 Contract Services-Rebate Calculation 6142010 Wilidan Financial Services Merged l Bonds Rebate Consulting Services Maimed 1 27500.00 2500.00 RPTTF 2500.00 1 $ 2500,00
11 Bond Trustee Fees Upon Issuance Bank of New York Mellon Teusl Merged 1 Bonds Trustee Fees Merged 1 165,000.00 7,500 00 RPTTF 5.000.00 $ 5 000.00
12 Dis ostion and Development Agreement 12/5/2005 Endure Investments Financial Assistance Remediation Merged 1 277000.00 277000.00 RPTTF $ -
13 Dis ostion and Development A reement 12/52005 Endure Investments Financial Assistance 10 Year Merged 1 1400000.00 140000.00 RPTTF 140000.00 $ 140000AO
14 Owner Particiation Agreement 11192000 vIP Motors Financial Assistance Manurial 1 769552.00 150000.00 RPTTF $
15 Pacific Hospitality Jutl ment Pacific Ho.pitafily Judgment as Determined by Court Ma etl 1 TBD TBD RPTTF $ -
16 2004 Tax Allocation Refunding Bonds Series 6/162004 Trust Refinance 1994 Tax Allocation Bonds Mongrel 2 14453.293.21 613756.26 RPTTF(l)$
17 2007 Taxable Tax Allocation Bonds Series C 9/182007 Trust ProAcquisition Merged 1 12,407,60SAl 521072.56 RPTTF(1) $ -
18 Agreement for Reimbursement 12/62006 City of PalmSprings PSL-236 Lease Mer ed2 3586,083.00 122892.00 RPTTF 122892.00 $ 122892.00
19 2004 Convention Center Bonds 6/62007 CRY of Palm Samoa Agency Fx Contribution to Convention Center anion Merged 2 6 900,000 00 300000.00 RPTTF 150.000.00 $ 150,000.00
20Agreement for Reimbursement 622/1993 Removed by the California Department of Finance Merged 2 RFTTF $
21 Contract Services -Financial 922/2010 Harrell&Company Advises Merged 2 Bonds DISCIEGUM lRating Mermad2 110,000.00 5,000.00 RPTTF $
22 Contract Services-Rebate Calculation 6/412010 Willdan Financial Services Mer ed 2 Bonds Rebate Consulting Services Me ed2 27500.00 2,500.00 RPTTF 2500.00 $ 2,50000
23 Bond Trustee Fees Upon Issuance Bank of New York Mellon Trusi Merged 2 Bonds Trustee Fees Morme,12 110 000.00 5 000.00 RPTTF 2500.00 $ 2 500.00
24 201 Housing Tax Allocation Bonds 7Y412001 Bank of New York Mellon Trusl Refinance 1991 Housing Tax Allocation Bonds Mer,.d1livalfied 5030290.05 467,217.W RPTTF 1 $
25 Contract Services -Financial 9222010 Harrell&Company Advisors Housing Bonds Disclosure/Reline Mergedifiberged 15000.00 1500.00 RPTTF $ -
26 Contract Services-Rebate Calculation 6142010 Willdan Financial Services Housing Bonds Rebate Consulting Services Mer ed1/Me ed 5000.00 0.00 RPTTF $ -
27 Bond Trustee Fees Upon Issuance Bank of New Yolk Mellon Trusl Housing Bonds Trustee Fees Ala edi/Me etl 22500.00 2,500.00 RPTTF 2,500.00 $ 2.WG,00
28 Contract Services-Audit 4/52010 Lanca Soil&Lun hard Audit Services areed1M1a etl 352000.00 16000.00 RPTTF 5000,00 5,000D0 $ 10000.00
29 Contract Services-L al 1/122005 WoodruOS radlin General Legal Counsel MeMedHiRilerged TBD 30000.00 RPTTF 2500.00 2500.00 2500.00 2500,00 2500,00 2500A0 15000.00
30 Contract Services -Financial 71182008 Harrell&Company Advisors EOPS and ROPS Consulting 120000 6000.00 RPTTF 500.00 500.00 500.00 50000 50000 500.00 $ 3,000.00
31 $
32) $
Totals-This Page(RPTTF Funding Page i) 127993766.15 $ 8800383.92 N/A $ 1,055000.00 145500.00 $ 20500.00 3000.00 $ 926892.00 $ 8000.00 $ 2,158,89200
Totals-Page 2(RPTTF Funding Page 2) 361115.00 $ 158623.00 N/A $ 14209,00 $ 2220.50 $ 13020.50 $ 13020.50 $ 13020.50 $ 13020.50 $ 68511.50
Totals-Page 3(Other Funding) 3 960 000 00 $ 660000.00 WA $ 5500000 $ 55000.00 $ 550000 $ 55000.00 $ 55000.00 $ 55000.00 330000.00
Totals-Page 4(Administrative Cost Allowance) 5500000.00 250000.00 NIA $ 20833.35 S 20833.33 $ 2083133 $ 20833.33 $ 2083333 $ 20833.33 $ 125000.00
Totals-Page 5(Pass Thm Payments) $ - $ - N/A $ $ $ - $ - $
Grand total-All Pa _- 137814881.15 7869 W8.92 $ 1145042.35 223553.83 $ 109353.83 91853.63 1015745.83 $ 96853.83 2682403.50
_. _ _. - _.
The Prad minary Draft Recognized Obligation Payment Schedule CROPS)Is to be completed by 3112012 by the successor agency,and subsequently be approvedby the oversight boandbefore tlteilnat ROPSis submitted to fire State Controller and State Department of Finance by April 15,2012. It is not a requirement Mat the.Agreed Upon
Procedures Audit be completed before submitting the final Oversight Approved ROPS to Me State Controller and SUM Department of Finance.
"Ali totals due during fiscal year and payment amounts are projected.
Funding sources tom the successor agenry: (For fiscal 201142 only,references to RPTTF could also mean tax Increment allocated to the Agency prior W February 1,2012.) (1)August 2012 and September 2012 Debt Service Already on Deposit win Trustee
RPTTF-Redevelopment Property Tax Trust Fund Bonds-Bond proceeds Other-reserves,rent,Interest earnings,etc
LMIHF-Low and Moderate income Housing Fund Admin-Successor Agency Administrative Allowance
Name of Redevelopment Agency City of Palm Springs as Successor Agency to the Community Redevelopment Agency of the City of Palm Springs FORMA-Redevelopment Property Tax Trust Fund(RPTTF)Page 2
Project Area(s) Merged Project No 1 and Merged Project No.2
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26-Section U177 I')
Payable from Me Redevelopment Property Tax Trust Fund(RPTTF)
Contract/Agreement Total Due During "' Pa mnnts b month
Total Outstanding Fiscal Year Funding
FP ,.cl Name/Debt Obligation Execution Date Payee Description Protect Area Debt or Obligation 2012.2013" Source July 2012 Aug2012 Sept 2012 Oct 2012 Nov 2012 Dec 2012 Total
1 Coo era0c,A reement 1/182011 City of PalmSprings Liability Insurance Me edt/Me ed2 41885.00 8.977.00 RPTTF 4488.50 4488,50
2 Cooperative Agreement 1/182011 City of Palms rims Building Rental Ale ed1RAe ed2 75000.00 15000,00 RPTTF 7500.00 $ 750000
3 Cooperative A reement 1/182011 City of Palms dos Salaries and Benefits Above ACA Mergeollivissfied2 133230.00 26646.00 RPTTF 2220.50 222050 2220.60 2,220,50 2,220,50 222050 $ 13323Olt
4 Consout Services-Consoling 1/142009 Canyon Commercial Consultin Downtown Consulting Minedl 108000.00 108000.00 RPTTF 10800.00 108W.00 10800.00 10800.00 $ 43200.0C
5 RPTTF $ -
g RPTTF 1 $
RPTTF $
8 RPTTF
g RPTTF $
10 RPTTF
11 RPTTF $
12 RPTTF $
13 RPTTF
iq RPTTF $
15 RPTTF $
18 RPTTF
1] RPTTF $
18 RPTTF
19 RPTTF
20 RPTTF $
21 RPTTF
22 RPTTF $
23 RPTTF
2q RPTTF
25 RPTTF $
26 RPTTF $
2] RPTTF $
29 RPTTF $
2g RPTTF $
3g RPTTF $
31 1 RPTTF
32 $
Totals-This Page(RPTTF Funding Page 21 $ 361115.00 158623.00 NIA $ 14209.00 $ 2220.50 $ 13020.50 $ 13,020.50 $ 13020.50 13020.50 $ 6851 LS(
' The Preliminary Draft Recognized Obligation Payment Schedule(ROPS)Is to be completed by 3112012 by Me successor agency,and subsequently be approved by Me oversight board before Me final ROPS is submitted to Me State Controller and State Department of Finance by April 15,2012. It is not a requirement Mat Me Agreed Upon
Procedures Audit be completed before submitting the final Oversight Approved ROPS to Me State Calibration and State Department of Finance.
'•All totals due during fiscal year and payment amounts are projected.
•"Funding sources hart Me successor agency: (For fiscal 2011-12 only,references to RPTTF could also mean tax Increment allocated to Me Agency prior to February 1,2012.)
RPTTF-Redevelopment Property Tax Trust Fund _ Bands-Bandpsiceed. - Other-memos,rents,Interest earnings,etc
-- LMHIF-Lour and Moderate Income Housing Fund Admin-Successes Agency Administrative Allowance
Name of Redevelopment Agency: City of Palm Springs as Successor Agency to the Community Redevelopment Agency of the City of Palm Springs FORM B-AII Revenue Sources Other Than Redevelopment Property Tax Trust Fund(RPTTF)
Project Area($) Merged Project No.1 and Merged Project No.2
DRAFT RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26-Section 341711')
Payable from Other Revenue Sources
Contract/AgreementTotal Due During Payments b month
Total Outstanding Fiscal Year
Pro ecl Name I Debt Obligation Execution Date Payee Desmiption Project Area Debt or Obligation 2012-2013" Funding Source"' July 2012 Aug2012 Se t 2012 Oct 2012 Nov 2012 Dec 2012 Total
11 LeaselSubleaseAgreement 1/19/2000 VIP Motors Property Lease Merged 1 3960000.00 660000.00 Lease Income 55,000.00 55.000.00 55000,00 55,00000 55,000.00 55000,00 $ 330000.00
2 $
$
3
$
4
$
5
$
6
$
7
$
8
9
10 $
1t $
$
12
$
13
14
15 $
16 $
17 $
18 $
19 $
20 $
21 $
22 $
23 $
$
24
25
26 $
27 $
28 $
29 $
30 $
31 $
32 $
33) $
Totals-LMIHF $0.00
Totals-Bond Proceeds $0 00
Totals-Other $ 3960000.00 $ 660.000.00 $ 55000.OQ $ 55000.00- $ -5500000- $ 55,000.00 $ 55,000,00 $ 55000.00 - $330000.00
Grand total-This Page _ _ - 3960000.00 $ 660,000.00 1 55000.00 $ 5500D00 $ 55000.00 $ 55,000.00 1 55,000.00 $ 55,000.00 330000.00
' The Preliminary Draft Recognized Obligation Payment Schedule(ROPS)is to be completed by 3/1/2012 by the successor agency,and subsequently be approved by the oversight board before the final ROPS is submitted to the State Conmollerand State Department of Finance by April 15,2012. It is not a requirement that the
Agreed Upon Procedures Audit be completed before submitting the final Oversight Approved ROPS to the State Controller and Slate Department of Finance.
" All total due during fiscal year and payment amounts are projected.
Funding sources from the successor agency: (For fiscal 2011-12 only,references to RPTTF could also mean tax Increment allocated to the Agency prior to February 1,2012.)
RPTTF-Redevelopment Property Tax Trust Fund Bonds-Bond proceeds Other-reserves,rents,interest earnings,etc
LMIHF-Low and Moderate Income Housing Fund Admin-SuccessorAgency Administrative Allowance
Name of Redevelopment Agency: City of Palm Springs as Successor Agency to the Community Redevelopment Agency of the City of Palm Springs FORM C-Administrative Cost Allowance Paid With Redevelopment Property Tax Trust Fund(RPTTF)
Project Area(s) _ Merged Prolem No.1 and Merged Project No.2
DRAFT RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26-Section 34177 1)
Payable from the Administrative Allowance Allocation
Total Due Dunng Payments by month
Total Outstanding Fiscal Year Funding
Proem Name Debt Obligation Payee Description Proem Area Debt or Obli ation 2012-2013" Source" Jul 2012 A 2012 Salt 2012 Oct 2012 Nov 2012 Dec 2012 Total
__11 Administrative Cost Allowance City of PalmSprings Overhead Cost Allocation Merged 1/Me ed2 5,500,00000 250.00000 RPTTF 20.833,35 20,833.33 20,833.33 20,833,33 20,833.33 20,833.33 $ 125,000.00
2 $
3 $
4 $
5 $
6 $
7 $
8 $
9 $
10 $
11 $
12 $
13 $
14 $
15 $
16 $
17 $
18 $
19 $
20 $
21 $
22 $
23 $
24 $ -
25 $
26 $ -
27 $ -
28 $
$
$
$
Totals-This Page $ 5,500 000.00 $ 250 000.00 $ 20,833.35 $ 20,833.33 $ 20,833.33 $ 20 833.33 $ 20,833.33 $ 20 833.33 $125 000.00
" The Preliminary Draft Recognized Obligation Payment Schedule(ROPS)is to be completed by 3/1/2012 by the successor agency,and subsequently be approved by the oversight board before the final ROPS is submitted to the State Controller and State Department of Finance by
April 15,2012. It is not a requirement that the Agreed Upon Procedures Audit be completed before submitting the final Oversight Approved ROPS to the State Controller and Slate Department of Finance.
"• All total due during fiscal year and payment amounts are projected.
Funding sources from the successor agency: (For fiscal 2011-12 only,references to RPTTF could also mean tax increment allocated to the Agency prior to February 1,2012.)
RPTTF-Redevelopment Property Tax Trust Fund Bonds-Bond proceeds Other-reserves,rents,interest earnings,etc
LMIHF-Law and Moderate Income Housing Fund Admin-Successor Agency Administrative Allowance
••-Administrative Cost Allowance caps are 5%of Form A 6-month totals in 2011-12 and 3%of Form A 6-month totals in 2012-13. The calculation should not factor in pass through payments paid for with RPTTF in Form D.
Name of Redevelopment Agency City of Palm Springs as Successor Agency to the Community Redevelopment Agency of the City of Palm Springs FORM D-Pass-Through Payments
Project Area(s) Merged Project No.1 and Merged Project No.2
OTHER OBLIGATION PAYMENT SCHEDULE
Per AS 26-Section 34177(`)
Pass Through and Other Payments"'•
Total Due During Payments by month
Total Outstanding Fiscal Year Source of
ffProlect Name I Debt Obligation Payee Description Project Area Debt or Obligation 2012-2013" Fund"' July 2012 Au 2012 Sept 2012 Oct 2012 Nov 2012 Dec 2012 Total
1 All Passlhrou h Obli ations Will be Paid by the County Auditor Controller Directly,not the Successor A iency $
2 $
3 $
4 $
5 $
6 $
7 $
a $
9 $
10 $
1 $
2 $
13 $
14 $
15 $
$
Is
$
$
$
I R1
Totals-Other Obit ations _ s - $ -$ 3 - E $ - $ $ Is - Is -
The Preliminary Draft Recognized Obligation Payment Schedule(ROPS)is to be completed by 311/2012 by the successor agency,and subsequently be approved by the oversight board before the final ROPS is submitted to the State Controller and State Department of Finance y
April 15,2012. It Is not a requirement that the Agreed Upon Procedures Audit be completed before submitting the final Oversight Approved ROPS to the State Controller and State Department of Finance.
" All total due during fiscal year and payment amounts are projected.
•"Funding sources from the successor agency: (For fiscal 2011-12 only,references to RPTTF could also mean tax increment allocated to the Agency prior to February 1,2012.)
RPTTF-Redevelopment Property Tax Trust Fund Bonds-Bond proceeds Other-reserves,rents,Interest earnings,etc
LMIHF-Low and Moderate Income Housing Fund Admin-Successor Agency Administrative Allowance
-Only the January through June 2012 ROPS should include expenditures for pass-through payments. Starting with the July through December 2012 ROPS,per HSC section 34183(a)(1),the county auditor controller will make the required pass-through payments prior to
transferring money into the successor agency's Redevelopment Obligation Retirement Fund for items listed in an oversight board approved ROPS.
Name of Redevelopment Agency: Community Redevelopment Agency of the City of Palm Springs Pagel of 6 Pages
Project Area(s) Merged Project No.1
INITIAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AS 26-Section 34167 and 34169
Total Outstanding
Debt or Obligation
as of June 30, Total Due During Source of Payments by month
Project Name/Debt Obligation Payee Description 2011 Fiscal Year" Payment July-Dec Jan" Feb Mar Aril May June Total
1 2004 Tax Allocation Refunding Bonds Series A Bank of New York Mellon Trust Refinance 1994 Tax Allocation Bonds 24470 886 1,947,267 RPTTF 824,664 1.122.703 1,122,703
2 2007 Tax Allocation Bonds Series A Bank of New York Mellon Trust Capital Pro ects 23.960.388 928,838 RPTTF 309,613 619,225 619,225
3 2007 Taxable Tax Allocation Bonds,Series B Bank of New York Mellon Trust Property Acquisition 3,854 458 175.941 RPTTF 58,647 117,294 117,294
4 SERAF Loans Low Mod Housing Fund Loans for FY 2009/10 and 2010/11 SERAF P 5,069,848 1,013 969 RPTTF 11013,969 1,013,969
5)lCity Loan and Interest Removed by the California Be artment of Finance RPTTF 0 0
6 Loan Low Mod Housing Fund Loan tp Mer ed Project No.1 148,632 74,316 RPTTF 74,316 74,316
_71 Housing Deferral Repayment Low Mod Housing Fund Pre-1986 Set Aside Deferral 1,532,669 RPTTF 0
8 2004 Convention Center Bonds City of Palm Springs A en Contribution to Convention Center Ex 29,900,000 1,300 000 RPTTF 650,000 650,000 650 000
9 Agreement for Reimbursement Removed by the California Department of Finance RPTTF 0 0 0
10 Cooperative Agreement City of Palm Springs Salaries and Benefits 4,600,000 214,799 ACA 107,399 17 900 17,900 17,900 17,900 17.900 17,900 107,400
11 Cooperative Agreement City of Palm Springs Insurance 181,300 9 065 ACA 4 533 2,266 2,266 4,532
12 Cooperative Agreement City of Palm Springs Administrative Charges 3,145,200 157,260 ACA 78,630 39,315 39,315 78,630
13 Cooperative Agreement City of Palm Springs Materials and Supplies 336,440 16,822 ACA 5,758 1,844 1,844 1 844 1,844 1,844 1,844 11,064
14 Cooperative Agreement City of Palm Springs Building Rental 210.000 10.500 1 ACA 10,500 0
15 Contract Services-Audit Lance Soil&Lun hard Audit Services 172,500 6,900 ACA 4,400 1,000 1,500 2,500
18 Contract Services-Legal Woodruff S radlin General Legal Counsel 1,244,600 49,784 ACA 15,281 5 750 5.750 5,750 5 750 5,750 5,753 34,503
17 Contract Services-Legal Best Best&Kreiger Redevelopment Special Counsel 14,402 14,402 ACA 14.402 0
18 Contract Services -Consulting Terra Nova Consulting Consulting Services 3,053 3.053 ACA 3,053 0
19 Contract Services -Consulting Canyon Commercial Consulting Downtown Consulting 144000 144,000 Fund Balance 54000 15000 15,000 15000 15,000 15000 15,000 90,000
20 Contract Services -Consulting Keyser Marston Financial Analysis Services 11,640 11,640 Fund Balance 11,640 0
21 Contract Services -Financial Harrell&Company Advisors Bond Disclosure and Financial Analysis 230,000 10,000 ACA 2,500 2 500 2,500 2,500 10,000
22 2011 Open PO-Audit Lance Soil&Lun hard Audit Services 1,530 1 530 Fund Balance 1,530 0
23 2011 Open PO-Financial Harrell&Company Advisors Bond Disclosure and Financial Analysis 6.657 6,657 ACA 6.657 6,657
241 Property Tax County of Riverside Property Tax on Acquired Property 8.000 8,000 RPTTF 8,000 8,000
25 Contract Services-Other(e.g.rebate calc Various Various Consultina Services 1,387,797 60339 ACA 339 10000 10,000 10,000 10,000 10,000 10,000 60,000
26 Property Tax Collection Fees Removed by the California Department of Finance 0 RPTTF 0
27 Bond Trustee Fees Bank of New York Mellon Trust Tmstee Fees 161,000 6,360 ACA 6,360 0
26 Contract Services-ConsultingKeyser Marston Consultin Services-Pacific Hospitality 25,243 25,243 RPTTF 0 25,243 25,243
29 Pacific Hospitality Judgment Pacific Hospitality Jud ment as Determined by Court _ To he Determined To be Determined RPTTF 0 - 0
30 Contract Services Financial Harrell&Company Advisors EOPS and ROPS Consulting 6,538 6,538 ACA 0 6,538 6,538
0
Totals-This Page 100826,781 6,203,223 2,160.649 2,559716 134,013 54494 60.994 92,075 1141,282 4042,574
Totals-Page 2 91353,947 3,180,395 549,510 55,480 51,199 657,848 250,400 250 400 1,315,557 2,580,884
Totals-Page 3 2 634,735 2,634,735 0 1,289 974 0 242,689 0 0 1.102,072 2,634,735
Totals-Page 4 49,317,138 4,404019 1,140,688 21444:549 48146 26826 97269 45.145 601,126 3262,918
Totals-Page 5 1,419,170 1,419 170 0 495 367 0 110 785 0 0 813,018 1,419 170
Totals-Page 6
Grand total-All Pa es 177830051 20,716.0261 5.873.238 7.330,893 270.541 1,114.825 11 430.452 424303 5221.505 14.792,376
RPTTF=Redevelopment Property Tax Trust Fund
LMIHF=Low and Moderate Income Housing Fund "Includes Bond Debt Service Due in August and September 2012
ACA=Administrative Cost Allowance
Name of Redevelopment Agency: Community Redevelopment Agency of the City of Palm Springs Page 2 of 6 Pages
Project Area(s) Merged Project No.1
INITIAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26-Section 34167 and 34169
owl Outstanding
Debt or Obligation
as of June 30, Total Due During Source of Payments by month
Project Name/Debt Obligation Payee Description 2011 Fiscal Year Payment July-Dee Jan Feb Mar Aril May June Total
1 2011 Open PO-Animal Shelter Allen F Smoot 8 Associates Animal Shelter Construction 32,856 32,856 Bond Proceeds 32,856 0
2 2011 Open PO-Animal Shelter SWad/Melra Architects Animal Shelter Construction 15,479 15479 Bond Proceeds 15479 0
3 2011 Open PO-Animal Shelter Planit Reprographics Animal Sheller Construction Bond Proceeds 0
4 2011 Open PO-Animal Shelter Ingersoll Rand Security Animal Shelter Construction 25,934 25,934 Bond Proceeds 25,934 0
5).2011 Open PO-Animal Shelter West Test Communications Animal Shelter Phone S slam 9,027 9,027 Bond Proceeds 9,027 0
6 2011 Open PO-Animal Sheller Moon;lacofano Goltsman Downtown Design Bond Proceeds 0
7 2011 Open PO-Animal Shelter Schroer Mfg Cc Animal Shelter Kennels and Intake Cages 17,619 17,619 Bond Proceeds 17,619 0
8 2011 Open PO-Animal Shelter Lake Stale Industries Animal Sheller Cages 4,469 4,469 Bond Proceeds 4.469 0
9 2011 Open PO-Construction Rick Engineering S Palm Canyon Widening 5198 5,198 Fund Balance 5,198 0
10 Grounds Maintenance Various Operation of Acquired Property 160,000 8,000 RPTTF 6,000 400 400 400 400 400 2,000
11 Continuing Appropriations Various Animal Shelter Construction Bond Proceeds 98,915 98915 Bond Proceeds 98835 80 80
12 Continuing Appropriations Various COD Master Plan 101,449 101,449 Fund Balance 650 50.799 50,000 100,799
13 Continuing Appropriations Various Desert Fashion Plaza Vision 3,444 3,444 Fund Balance 3,444 0
14 Continuing Appropriations Various Capital Projects 765,557 765,557 Fund Balance 250 000 250,000 250,000 15,557 765,557
15 Dis ostion and Development Agreement Endure Investments Financial Assistance 554,000 277,000 RPTTF 227.000 227,000
16 Dispostion and Developmant Agreement Endure Investments Financial Assistance 1,400,000 RPTTF 0
17 Owner Participation Agreement VIP Motors Financial Assistance 900,000 130,448 RPTTF 130,448 130,448
18 Lease/Sublease Agreement VIP Motors Property Lease 3960,000 385000 Lease Income 330,000 55000 - 55,000
19 Flood Control Trust Fund Various Flood Control Tax Sharing Agency Account 1,300,000 1,300,000 RPTTF 1.300,000 1,300,000
20 0
21 0
22 0
23 0
2q 0
25 0
26 0
27 0
28 0
2g 0
30 _ _.. - 0
31 0
32 0
33 0
3q 0
35 0
36 0
37 0
38 0
39 0
40) 0
Totals-This Page 1 9,353,947 3,180,395 549,510 55,480 51,199 657,848 250,400 250,400 1,315.557 2,580,884
RPTTF=Redevelopment Properly Tax Trust Fund
LMIHF=Low and Moderate Income Housing Fund
ACA=Administrative Cost Allowance
Name of Redevelopment Agency: Community Redevelopment Agency of the City of Palm Springs Page 3 of 6 Pages
Project Area(s) Merged Project No.1
INITIAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AS 26-Section 34167 and 34169
Total uts an mg
Debt or Obligation
as of June 30, Total Due During Source of Payments by month
Project Name/Debt Obligation Payee Description 2011 Fiscal Year Payment July-Dec Jan Feb Mar Aril may June Total
1 SB 241 Payment-Riverside County Riverside County Tax Sharma Pursuant to Section 33607.7 8,691 8,691 RPTTF 8,691 8,691
2 SB 211 Payment-City of Palm Springs City of Palm Springs Tax Sharing Pursuant to Section 33607.7 96,765 96,765 RPTTF 96,765 96,765
3 SB 211 Payment-Palm Springs Unified School Di Palm Springs Unified School District Tax Sharing Pursuant to Section 33607.7 87,957 87,957 RPTTF 87,957 87,957
4 SB 211 Payment-College of the Desert College of the Desert Tax Sharing Pursuant to Section 33607.7 25,009 25,009 RPTTF 25.009 25.009
5 SB 211 Payment-County Office of Education County Office of Education Tax Sharing Pursuant to Section 33607.7 13.659 13,659 RPTTF 13.659 13,659
6 SB 211 Pa ment-Riverside County Regional Park Riverside County Regional Park Tax Sharing Pursuant to Section 33607.7 1,419 1,419 RPTTF 1,419 1,419
7 SB 211 Payment-Riverside County Flood Control Riverside County Flood Control Tax Sharing Pursuant to Section 33607.7 3,140 3,140 RPTTF 3,140 3140
8 SB 211 Payment-Cemetery District Cemetery District Tax Sharing Pursuant to Section 33607.7 86 86 RPTTF 86 86
9 SB 211 Payment-Hospital District Hospital District Tax Sharing Pursuant to Section 33607.7 6,661 6,661 RPTTF 6,661 6,661
10 SB 211 Payment-Mosquito Abatement District Mosquito Abatement District Tax Sharing Pursuant to Section 33607.7 422 422 RPTTF 422 422
11 SB 211 Payment-Resource Conservation District Resource Conservation District Tax Sharing Pursuant to Section 33607.7 40 40 RPTTF 40 40
12 SB 211 Payment-Coachella Valley Water District Coachella Valley Water District Tax Sharing Pursuant to Section 33607.7 3 3 RPTTF 3 3
13 SB 211 Payment-CVWD Storm Water District CVWD Storm Water District Tax Sharing Pursuant to Section 33607.7 4 4 RPTTF 4 4
14 Contractual-Riverside County Riverside County Tax Sharing Pursuant to Section 33401 1,197,146 1,197 146 RPTTF 1,197,146 1,197 146
15 Contractual-Riverside County Defenal Riverside County Tax Sharing Pursuant to Section 33401(DefE 530,585 530.585 RPTTF 530,585 530,585
16 Contractual-Palm S rin s Unified School District Palm Springs Unified School District Tax Sharing Pursuant to Section 33401 198,055 198,055 RPTTF 198,055 198,055
17 Contractual-College of the Desert College of the Desert Tax Sharing Pursuant to Section 33401 56,531 56,531 RPTTF 56 531 56.531
18 Contractual-County Office of Education County Office of Education Tax Sharing Pursuant to Section 33401 30.756 30,756 RPTTF 30.756 30,756
19 Contractual-Riverside County Flood Control Riverside County Flood Control Tax Sharing Pursuant to Section 33401 92,828 92,828 RPTTF 92,828 92,828
20 Contractual-Cemetery District Cemetery District Tax Sharing Pursuant to Section 33401 4,105 4,105 RPTTF 4.105 4 105
21 Contractual-Mosquito Abatement District Mosquito Abatement District Tax Sharing Pursuant to Section 33401 38,184 38,184 RPTTF 38,184 38.184
22 Contractual-Coachella Valley Water District Coachella Valley Water District Tax Sharing Pursuant to Section 33401 0 0 RPTTF 0
23 Contractual-Desert Water Agency Desert Water Agency Tax Sharing Pursuant to Section 33401 17,557 17,557.RPTTF 17.557 17,557
24 Contractual-Desert Water Agency DS Override Desert Water Agency Tax Sharing Pursuant to Section 33401 225,132 225.132 RPTTF 225,132 225,132
25 0
26 0
27 0
28 0
P9 0
31 0
32 0
33 0
34 0
35 0
36 0
37 0
38 0
39 0
40 0
Totals-This Page 2,634,735 2,634,735 1,289,974 0 242,689 0 0 1,102,072 2,634,735
RPTTF=Redevelopment Property Tax Trust Fund
LMIHF=Low and Moderate Income Housing Fund
ACA=Administrative Cost Allowance
Name of Redevelopment Agency: Community Redevelopment Agency of the City of Palm Springs Page 4 of 6 Pages
Project Area(s) Merged Project No.2
INITIAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE
otal outstanding
Debt or Obligation
as of June 30, Total Due During Source of Payments by month
Project Name/Debt Obligation Payee Description 2011 Fiscal Year Payment July-Dec Jan"" Feb Mar Aril may June Total
1 2004 Tax Allocation Refunding Bonds,Series B Bank of New York Mellon Trust Refinance 1994 Tax Allocation Bonds 14 453,293 1,003,384 RPTTF 390,628 612,756 612,756
2 2007 Taxable Tax Allocation Bonds Series C Bank of New York Mellon Trust Property AcAuisition 12 407,609 848,503 RPTTF 325,164 523,339 523,339
3 City Loan and Interest Removed by the California Depart Operating and Administrative Costs - - RPTTF - 0
4 A reement for Reimbursement City of Palm Springs PSL-236 Lease 3,400 000 122,892 RPTTF 110,000 12.892 12,892
5 A reement for Reimbursement City of Palm Springs Sustainability,F Partial Pre a ment of PSL 236 Lease 1,125,436 1,125,436 RPTTF 1,125,436 1,125,436
6 2004 Convention Center Bonds Cityof Palm Springs A enc Contribution to Convention Center 6900000 300 000 RPTTF 150.000 150,000 150,000
7 A reement for Reimbursement Removed b the California Department of Finance RPTTF 0 0
8 Cooperative Agreement Cityof Palm Springs Salaries and Benefits 5 540,000 214 798 ACA 107,398 17.900 17.900 17.900 17,900 17,900 17,900 107,400
9 Coo move Agreement Cityof Palm Springs Insurance 177 760 8 888 ACA 4,444 2,222 2,222 4,444
10 Coo erative Agreement Cityof Palm Springs Administrative Charges 1.509 220 75 461 ACA 37,596 18,798 18,797 37,595
i t Coo rative Agreement City of PalmSprings Materials and Supplies 212,420 10 621 ACA 2 701 1,320 1,320 1,320 1.320 1.320 1,320 7,920
12 Cooperative Agreement City of Palm Springs Building Rental 90,000 4 500 ACA 4 500 -
13 Contract Services-Audit Lance Soll&Lun hard Audit Services 77,500 3,100 ACA 1,400 1,000 700 1,700
14 Contract Services-Legal Woodruff S radlin General Legal Counsel 197 900 7 916 ACA 2 480 906 906 906 906 906 906 5,436
15 Contract Services -Financial Harrell&Company Advisors Bond Disclosure and Financial Analysis 184,000 1 8,000 ACA 2,000 2,000 2,000 2,000 8.000
16 Contract Services-Other e. .rebate calc Various Various Consulting Services 460,000 1 20,000 ACA 4.000 4,000 4,000 4.000 4,000 1 20,000
17 Bond Trustee Fees Bank of New York Mellon Trust Trustee Fees 161,000 4,520 ACA 4,377 143
18 Property Tax Collection Fees County of Riverside SB 2557 Fees 1,846,000 71,000 RPTTF - 71,000 71.000
19 Flood Control Trust Fund Various Flood Control Tax Sharing Agency Account 575,000 575,000 RPTTF - 575,000 675,000
20
21
22
23
24
25
26
27
28
29 _ -
30
31
32
33
34
35
36
37
38
3911
40)
Totals-This Page $ 49.317,138.00 4,404,019 1,140,688 2,444,549 48,146 26,826 97,269 45,145 601,126 3,262,918
RPTTF=Redevelopment Property Tax Trust Fund Includes Bond Debt Service Due in August and September 2012
LMIHF=Low and Moderate Income Housing Fund
ACA=Administrative Cost Allowance
Name of Redevelopment Agency: Community Redevelopment Agency of the City of Palm Springs Page 5 of 6 Pages
Project Area(s) Merged Pro act No.2
INITIAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AS 26-Section 34167 and 34169
otal Cilutstanding
Debt or Obligation
as of June 30, Total Due During Source of Payments by month
Project Name/Debt Obligation Payee Description 2011 Fiscal Year Payment July-Dec Jan Feb Mar Aril May June Total
1 SB 211 Payment-Riverside County Riverside County Tax Sharing Pursuant to Section 33607.7 0 0 RPTTF 0 0
2 SB 211 Payment-City of Palm Springs City of Palm Springs Tax Sharing Pursuant to Section 33607.7 33,470 33,470 RPTTF 33,470 33,470
3 SB 211 Payment-Palm Springs Unified School Di Palm Springs Unified School District Tax Sharing Pursuant to Section 33607.7 6,554 6,554 RPTTF 6,554 6,554
4 SB 211 Payment-College of the Desert College of the Desert Tax Sharing Pursuant to Section 33607.7 1,871 1,871 RPTTF 1 871 11871
5 SB 211 Payment-County Office of Education County Office of Education Tax Sharma Pursuant to Section 33607.7 1,018 1,018 RPTTF 1,018 1 018
6 SB 211 Payment-Riverside County Regional Pa Riverside County Regional Park Tax Sharing Pursuant to Section 33607.7 492 492 RPTTF 492 492
7 SB 211 Payment-Riverside County Flood Control Riverside County Flood Control Tax Sharing Pursuant to Section 33607.7 0 0 RPTTF 0 0
8 SB 211 Payment-Cemetary District Cemetary District Tax Sharing Pursuant to Section 33607.7 180 180 RPTTF 180 180
9 SB 211 Payment-Hospital District Hospital District Tax Sharinq Pursuant to Section 33607.7 2,304 2,304 RPTTF 2,304 2,304
10 SB 211 Payment-Mosquito Abatement District Mosquito Abatement District Tax Sharing Pursuant to Section 33607.7 0 0 RPTTF 0 0
11 SB 211 Payment-Resource Conservation District Resource Conservation District Tax Sharing Pursuant to Section 33607.7 0 0 RPTTF 0 0
12 SB 211 Payment-Coachella Valley Water District Coachella Valley Water District Tax Sharing Pursuant to Section 33607.7 0 0 RPTTF 0 0
13 SB 211 Payment-CVWD Storm Water District CVWD Storm Water District Tax Sharing Pursuant to Section 33607.7 0 0 RPTTF 0 0
14 Contractual-Riverside County Riverside County Tax Sharing Pursuant to Section 33401 903.110 1 903,110 RPTI-F 451,555 451,555 903,110
15 Contmctual-Palm Springs United School District Palm Springs United School District Tax Sharing Pursuant to Section 33401 184,829 184,829 RPTKTF 184,829 184,829
16 Contractual-College of the Desert College of the Desert Tax Sharinq Pursuant to Section 33401 52,756 52,756 RPTTF 52,756 52,756
17 Contractual-County Office of Education County Office of Education Tax Sharing Pursuant to Section 33401 31,109 31,109 RPTTF 31.109 31,109
18 Contractual-Riverside County Flood Control Riverside County Flood Control Tax Sharing Pursuant to Section 33401 60,746 6Q746 RPTTF 43.812 16.934 60,746
19 Contractual-Cemeta District Cemetery District Tax Sharing Pursuant to Section 33401 919 919 RPTTF 919 919
20 Contractual-Mosquito Abatement District Mosquito Abatement District Tax Sharinti Pursuant to Section 33401 0 0 RPTTF 0 0
21 Contractual-Coachella Valley Water District Coachella Valley Water District Tax Sharing Pursuant to Section 33401 29,027 29,027 RPTI-F 29.027 29,027
22 Contractual-Desert Water Agency Desert Water Agency Tax Sharing Pursuant to Section 33401 8,257 8,257 RPTTF 8 257 8,257
23 Contractual-Desert Water Agency DS Override Desert Water Aqencv Tax Sharing Pursuant to Section 33401 102,528 102,528 RPTTF 102,528 102,528
24 0
25 0
26 0
27 0
2g 0
29 0
30 0
31 0
32 0
33 0
34 0
35 0
36 0
37 0
38 0
39 0
40) 0
Totals-This Page 1,419,170 1,419,170 495.367 0 110,785 0 0 813,018 1,419,170
RPTTF=Redevelopment Property Tax Trust Fund
LMIHF=Low and Moderate Income Housing Fund
ACA=Administrative Cost Allowance
Name of Redevelopment Agency: Community Redevelopment Agency of the City of Palm Springs Page 6 of 6 Pages
Project Areas) Low and Moderate Income Houisng Fund Obligations
INITIAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE
otal Outstanding
Debt or Obligation
as of June 30, Total Due During Source of Payments by month
Project Name/Debt Obligation Payee Description 2011 Fiscal Year Payment July-Dec Jan" Feb Mar Aril May June Total
1 2001 Housing Tax Allocation Bonds Bank of New York Mellon Trust Refinance 1991 Housing Tax Allocation Sorx 5,030,290 834,352 LMIHF/RPTTF 368,834 465,518 465.518
2 HousingProjects and Programs To Be Detemtined Restricted Sale Proceeds to be used for Low 162,630 162,630 LMIHF 162,630 162,630
3 20%Housing Set Aside Removed by the California Department of Finance RPTTF
_41 Ni hten ale Manor Improvements Low Mod Housing Fund Low Mod Housing Project 601000 60.000 LMIHF 60,000 60,000
5 Sunset Palms Apartments Low Mod Housing Fund Low Mod Housing Project 1,500,000 1,500 000 LMIHF 1.500 000 -
6 N Indian/San Rafael Project Low Mod Housing Fund Low Mod Housing Project 4,500 4,500 LMIHF 469 4 031 4,031
7 Cooperative A reement City of Palm Springs Salaries and Benefits 6,000 000 232,689 ACA 116,289 19,400 19,400 19.400 19,400 19,400 19,400 116,400
8 Cooperative Agreement City of Palm Springs Insurance 35,660 1,783 ACA 892 446 446 892
9 Cooperative A reement City of PalmSprings Administrative Charges 1,196.800 59,790 ACA 29,895 14948 14948 29,896
10 Cooperative A reement City of Palm Springs Materials and Supplies 152,400 7,620 ACA 2.286 889 889 1 889 889 889 889 5,334
11 Cooperative A reement City of Palm Springs Building Rental 20.000 1,000 ACA 1.000 -
12 Contract Services-Audit Lance Soll&Lun hard Audit Services 25,000 1.000 ACA 606 394 394
13 Bond Trustee Fees Bank of New York Mellon Trust Trustee Fees 22,000 2,120 ACA 2.120
14 Contract Services -Financial Harrell&Company Advisors Bond Disclosure and Financial Analysis 20,000 2,000 ACA 500 500 500 500 2,000
15 Contract Services-Other e. .rebate calc Various Various Consulting Services 50,000 1 5,000 ACA 11000 1,000 1,000 1,000 1,000 5,000
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30)
31
32
33
34
35
36
37
38
39
40)
Totals-This Page $ 14,278,280.00 2,874,484 2,022,391 485,807 37,183 22,183 21,789 36,683 248,450 852,095
RPTTF=Redevelopment Property Tax Trust Fund "Includes Bond Debt Service Due in August and September 2012
LMIHF=Low and Moderate Income Housing Fund
ACA=Administrative Cost Allowance