HomeMy WebLinkAbout5/30/2012 - RESOLUTIONS - 008 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 (MOPS).
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, invallidating 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 Health & 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
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 form 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.
r
C AIRPERSO
ATTEST:
LERK/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, Ready, Van Horn, Vice Chair Howell and
Chair Flavin.
NOES Board Member Marshall.
ABSTAIN None.
ABSENT None.
J mes 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
Outst-an R diny Debt or Obli ation $ 137,814,881.15 $ 7,869,006.92
n
i ,� tr z z`' 'Eemr"®�y,�,
Total Due for Six Month Period
Outstanding Debt or Obligation $ 2,682,403.50
a.9 iE.
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 $ -
Administrative Allowance(greater of 3%of anticipated Funding from RPTTF or 250.000,Note:Calculation should not
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, ?'rforw a s r-4 AJ 1 N C al rZ. G2soa
I hereby certify that the above is a true and accurate Recognized Name Title
Enforceable Payment Schedule for the above named agency. Z7� as ZOI Z
ig ture Date
SUCCESSOR AGENCYADMIN BUDGET
February-June 2012 Annual
Budget Source Monthly Feb Mar April May June Total
STAFF COSTS
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
494,20S 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 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 1
Project Areas) Merged Feast No.1 and Merged Pro act No.2
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26-Section 341]]1')
Payable from the Redevelopment Property Tax Trust Fund(RPTTF)
ContracVAgreement Total Due During nd Payments b month
Total rObli Outstanding Fiscal Year Funding
Project Name/Debt Obligation Execution Data Payee Description Project Area Debt or Obligation 2012-2013" Source Jvl 2012 Aug 2012 Sept 2012 Oct 2012 Nov 2012 Dec 2012 Total
1 2004 Tax Allocation Refunding Bonds,Series 6/16/2004 Bank of New York Mellon Trust Refinance 1994 Tax Allocation Bonds Merged 17895,986.25 1036,42].50 RPTTFI $
22007 Tax Allocation Bonds,Series A 9/182007 Bank of New York Mellon Trust Coital Pro sold Merged 23,960,387.52 619225,00 RPTIT1 $
3 2007 Taxable Tax Allocation Bands,Series B 9/18/2007 Bank of New York Mellon Trusi Property Acquisition Merged 1 3,854,541.71 117293.10 RPTTFI $
4 SERAF Loans 4120110;514111 PalmSprings Housin Sudcssv Loans for FY 2009110 and 2010111 SERAF Payments Merged 1 5069848.00 1052,000.00 RPTTF 1052,00000 $ 1,052,000.00
5 Loan 516119M Removed by fire California Department of Finance Merged 1 0.00 RPTTF $
SIR...in Deferral Repayment H&S Code Palm S rin s Housin Succes Fre-198fi Set Aside Deferral Merged 1 1,532,669.00 0.00 RPTTF $
] 2004 Convention Center Bonds 6/612007 Cit of PalmShrines
rin s A enc Contribution to Convention Center Expansion Merged 1 29 900,000.00 1,300,001 RPTTF 650,000.00 $ 650,000.00
8 A reementfor Reimbursement 10/16/1991 Removed by the California Decampment of Finance Merged 1 RPTTF $
9 Contract Services-Financial 9222010 Harrell&Company Advisors Mer etl 1 Bonds Disclosure Rating Merged 1 110 000.00 5,000.00 RPTTF 1 1.000.00 1 $ 1,000.00
10 Contract Services-Rebate Calculation 6142010 Wlidan Financial Services Meretl l Bonds Rebate Consulting Services Merged 27500.00 2501 RPTTF 250000 $ 2,501
11 Bond Trustee Fees Upon Issuance Bank of New York Mellon Trust Mer etl 1 Bonds Trustee Fees Merged 1 165,000.00 7,501 RPTTF 500000 $ 5,001
12 Distinction and Development A reement 12/5/2005 Endure Investments Financial Assistance Remediation Merged 1 277,000.00 277,000.00 RPTTF $
13 Disposition and Development Agreement 12/5/2005 Endure Investments Financial Assistance 10 Year Merged 1 1,400,000.00 140 000.00 RPTTF 140,000.00 $ 140 000.00
14 Owner Participation A reement 1/19/2000 VIP Motors Financial Assistance Merged 1 769552.00 150000.00 RPTTF
15 Pacific Hospitality Judgment Pacific Hospitality Judgment as Determined by Court Merged i TBD TBD RPTTF
16 2004 Tax Allocation Refunding Bonds Series B 6/162004 Trust Refinance 1994 Tax Allocation Bonds Merged 2 14,453,293.21 613,756.26 RPTTF 1 $
17).2007 Taxable Tax Allocamon Bonds,Series 9/18/2007 Trust Property Acquisition Merged 2 12,407,609.41 521072.56 RPTTF(1) $
18 A reementfor Reimbursement 12/6/2006 City of PalmSprings PSL-236 Lease Merged 2 3,586083.00 122892.00 RPTTF 122,892.00 $ 122892.00
19 2004 Convention Center Bonds 6/6/2007CI of PalmSprings en Contribution W Convention Center Expansion Merged 2 6,900,000.00 300,000.00 RPTTF 150,001 $ 150,00000
20 Agreement for Reimbursement 622/1993 Removed by the California De artment of Finance Merged 2 RPTTF $
21 Contract Services -Financial 9/222010 Harrell&Company Advisors Merged 2 Bonds Disclosure/Rating Merged 2 110,000.00 5,000.00 RPTTF $
22 Contract Services-Rebate Calculation 6/42010 Willdan Financial Services Merged 2 Bonds Rebate Consulting Services Merged 2 27,500.00 2,500.00 RPTTF 2,500.00 $ 2,501
23 Bond Trustee Fees U on Issuance Bank of New York Mellon Trust Merged 2 Bonds Trustee Fees Merged 2 110,00000 5001 RPTTF 2,500.00 $ 2,500.00
24 2001 Housing Tax Allocation Bonds 7/31/2001 Bank of New York Mellon Trust Refinance 1991 Housing Tax Allocation Bonds MergedlIMerged 5,03029005 46]21]50 RPTTFI $
25 Contract Services -Financial 922/2010 Harrell&Company Advisors Housing Bonds Disclosure/Rome Me edl/Mer etl 15,000.00 1500.00 RPTTF $
26 Contract Services-Rebate Calculation 6/42010 Willson Financial Services Housing Bonds Rebate Consulting Services Mergedl/Maraded 2 5,000.00 1 RPTTF $
27 Bond Trustee Fees Upon Issuance Bank of New York Mellon Trust Housing Bonds Trustee Fees Memedl/Marged 22,50000 2,500.00 RPTTF 2,501 $ 2,500.00
2801Comraid Services-Audit 4/5/2010 Lance Sell&Lon hard Audit Services Me edl/Merged 352,00000 16000,00 RPTTF 51000.00 5,000,00 $ 1000000
29 Contract Services-Le al 1/122005 Woodruff Starts General Legal Counsel MergedlYMemed TBD 30000.00 RPTTF 2,500,00 2500,00 2500.00 2500,00 2,500.00 2,500.00 $ 15100000
30 Contract Services -Financial 7/18/2008 Harrell&Company Advisors FOPS and HOPS Consulting MergeollMermed 12000,00 8 000,00 RPTTF 500.00 500.00 500.00 500.00 501 500.00 $ 3,001
31 $
32) $
Totals-This Page(RPTTF Funding Page l) $127993766.16 $ 6,800383.92 N/A $ 1055000.00 $ 145,500.00 $ 20500.00 $ 3,001 $ 926892.00 $ 8000.00 $ 2,158,892.00
Totals-Page 2(RPTTF Funding Page 2) $ 361115.00 $ 158623.00 N/A $ 14.209.00 $ 2.221 $ 13020.50 $ 13,020.50 $ 13020.50 $ 13020.50 $ 68,511.50
Totals-Page 3(Other Funding) $ 3960001 $ 660,000.00 N/A $ 55,000.00 $ 55,000.00 $ 55000.00 $ 55,001 $ 55000.00 $ 55001 $ 330,000.00
Totals-Page 4(Administrative Cost Allowance) $ 5500000.00 $ 250000.00 N/A $ 20,833.35 $ 20833.33 $ 20833.33 $ 20,83333 $ 20833.33 $ 20833.33 $ 125,000.00
Totals-Page 5(Pass Thru Payments) $ $ N/q $ $ $ $ $ $
Grand total-All Pages $13]814881.15 $ ]869p06.92 0$ 1145042.35 223,553.83 $ 109,353.83 $ 91853.83 $ 1,015745.83 $ 96853.83 $ 268240350
' The Preliminary Draft Recognized Obligation Payment Schedule(ROPS)Is to be completed by 31112012 by the successor agency,and subsequently be approved by the oversight board before Me 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 oresAudicompe ore a ml to a na ersg pprove tote fate ontro er an fate Departmento Finance.
"All totals 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 pi to February 1,2012.) (1)August 2012 and September 2012 Debt Service Already on Deposit with Trustee
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
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 AS 26-Section 341]]1')
Payable from the Redevelopment Property Tax Trust Fund(RPTTF)
CoExec Execution
D ment Total cal During dl Payments by month
Total rOtali Outstanding Fecal Year Funding
Project Nama/Debt Obligation Execution Date Paves Description Pro'ect Area Debt or Obli anon 2012-2013"' Source July 2012 Aug 2012 SepA2012 Oct 2012 Nov 2012 Dec 2012 Total
11 Cooperative A reement 1/18/2011 City of Palms rin s Liability Insurance Mer edl/Mer ed2 44,885.00 89]].00 RPTTF 4488.50 $ 4,488.50
2 Cooperative A reement 1/182011 City of PalmSprings Building Rental Mer edt/Mer ed 75000.00 15,000.00 RPTTF 7,500.00 $ 7500.00
3 Cc.rpmativeA reement 1/18/2011 City of PalmSprings Salaries and Benefits Above ACA Mer edVMer ed2 133230.00 26,646.00 RPTTF 2,220.50 2,220.50 2220.50 2,220.50 2220.50 2,220.50 $ 13,323.00
4 Contract Services-Consultin 1/14/2009 Canon Commercial Consulhn Downtown CcnsuWng Merged 108000.00 108,000.00 RPTTF 10800.00 10,800.00 10800.00 10,800.00 $ 43,200.00
5
RPTTF $
6 RPTTF $
RPTTF $
8
RPTTF $
9
RPTTF $
0
RPTTF $
RPTTF $
12
RPTTF $
13
RPTTF
14
RPTTF $
15
RPTTF $
16
RPTTF $
1] RPTTF
18
RPTTF $
19 RPTTF $
20 RPTTF $
21
RPTTF $
22
RPTTF $
23 RPTTF $
24 RPTTF $
25
RPTTF $
26 RMF $
2]
RPTTF $
28
RPTTF $
29
RPTTF $
30 RPTTF $
31
RP F $
32) $
Totals-This Page(RPTTF Funding Page 2) $ 361115.00 $ 158623.00 N/A $ 14,209.00 $ 2220.50 $ 13,02050 $ 13020.50 13,020.50 $ 13020.50 $ 68511.50
0 00000
' The Preliminary Draft Recognized Obligation Payment Schedule(ROPS)is to be completed by 3/112012 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 State Department of Finance.
All totals 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 PrSrty Tax Trr2st _.._. _.... ...___bonds.--Bond proceed. _ 01her...reserves,rents,intemsteamings,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 FORM B-AII Revenue Sources Other Than Redevelopment Property Tax Trust Fund(RPTTF)
Project Areals) Merged Project No.1 and Merged Project No.2
DRAFT RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AS 26.Section 34177(")
Fisccalal Year During Payable from Other Revenue Sources
Total Outstanding F
ContracVAgreemenl To Payments by month
Project Name Debt Obligation Execution Date Payee Description Project Area Debt or Obligation 2012-2013^ F,rdlon Source"' July 2012 Aug2012 Sept 2012 Oct 2012 Nov 2012 Dec 2012 Total
1 Lease/Sublease Agreement 1/19/2000 VIP Motors Property Lease Merged 1 3,960,000.00 660,00000 Lease Income 55,000.00 55,000.00 5500000 55,000.00 55,000.00 55,000.00 $ 330,000.00
2 $
$
4 $
5 $
f $
$
8 $
9 $
10 $
11 $
12 $
13 $
14 $
15 $
ifi $
17 $
18 $
19 $
20 $
21 $
22 $
23 $
24 $
25 $
26 $
27 $
28 $
29 $
30 $
31 $
32 $
33)
Totals-LMIHF $0.00
Totals-Bond Proceed s $0.00
Totals-Other $ 3,960,000.00 $ 660,000.00 $ 55,000.00 $ 55.000,00 $ 55,000.00 $ 55,000.00 $ 55,00000 $ 55,000B0 $330,000.00
Grand fomi-ThTs Page - -_- --- - - - -- -- -- $ 3,960,000.00 $ 660,000.00 $ 55,000.00 $ 55,000.00 $ 55,000,00 $ 55,000.00 $ 55,000.00 $ 55,000.00 $ 330,000.00
The Preliminary Draft Recognized Obligation Payment Schedule(ROPS)is to be completed by 31112012 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 BOPS 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-SuccessorA en 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 Prolect No.1 and Merged Project No.2
DRAFT RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26-Section 34177(")
Payable from the Administrative Allowance Allocation
Total Due During Total Outstanding Fiscal Year Funding Payments by month
Project Name Debt Obligation Payee Description Pro act Area Debt or Obli anon 2012-2013" Source" July 2012 Aug2012 Se 12012 Oct 2012 Nov 2012 Dec 2012 Total
1 Administrative Cost Allowance City of Palm Springs Overhead Cost Allocation Merged 1/Merged 2 5,500,000.00 250,000.00 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 Pa e $ 51500.000.00 $ 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 Stale 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 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
"-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 AB 26-Section 34177(`)
Pass Through and Other Payments***`
Total Due During
Total Outstanding Fiscal Year Source of Payments by month
Project Name/Debt Obligation Payee Description Project Area Debt or Obli ation 2012-2013** Fund— July 2012 Aug2012 Sept 2012 Oct 2012 Nov 2012 Dec 2012 Total
1 All Passthrou h Obligations Will be Paid by the County Auditor Controller Directly,not the Successor A gencv $
2 $
3 $
4 $
5 $
6 $
7 $
8 $
g $
10 $
11 $
12 $
13 $
14 $
15 $
Totals-Other Obligations _ $
* The Preliminary Draft Recognized Obligation Payment Schedule(ROPS)is to be completed by 3/112012 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 AB 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 24,470,886 1,947,267 RPTTF 824,564 11122,703 1,122,703
2 2007 Tax Allocation Bonds,Series A Bank of New York Mellon Trust Capital Projects 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 1,013,969 11013,969
5),CIty Loan and Interest Removed by the California Department of Finance RPTTF 0 0
6 Loan Low Mod Housing Fund Loan to Mar ed Project No.1 148,632 74,316 RPTTF 74,316 74,316
7 HousingDeferral Repayment Low Mod HousingFund Pre-1986 Set Aside Deferral 1,532,669 RPTTF 0
8 2004 Convention Center Bonds City of Palm Springs A enc Contribution to Convention Center Ex 29,900,000 1,300,000 RPTTF 1 650,000 650,000 650,000
_91 Agreement for Reimbursement Removed by the California Depart ant of Finance RPTTF 0 0 0
10 Cooperative Agreement City of Palm Springs Salaries and Benefits 4,600 000 214,799 ACA 107,399 17,900K2,266
17,900 17,900 17,900 17,900 107,400
11 Cooperative Agreement Cityof Palm Springs Insurance 181,300 9,065 ACA 4,533 2,266 4,532
12 Coo erativeA reement Ci of Palms rin s Administrative Char es 3,145,200 157260 ACA 78,630 39,315 78630
13 Coo erative A reement Ci of Palm S rin s Materials and Su lies 336,440 16822 ACA 5,758 1,844 1,844 1 844 1 844 1,844 11,064
14 Coo erative A reement Cil of Palm S rin s Buildin Rental 210,000 10,500 ACA 10,500 0
15 Contract Services-Audit Lance Sol[&Lun hard Audit Services 172,500 6,900 ACA 4,400 1,500 2,500
16 Contract Services-Le al WoodruffS radlin General Le al Counsel 1,244,600 49,784 ACA 15,281 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 Terre Nova Consulting Consulting Services 3,053 3,053 1 ACA 3,053 0
19 Contract Services -Consulting Canyon Commercial Consulting Downtown Consultinq 144,000 144,000 Fund Balance 54,000 15,000 15,000 15,000 15,000 15,000 15,000 90,000
20 Contract Services -Consulting Keyser Marston Financial Analysis Services 11,640 11640 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
24 Property Tax County of Riverside Property Tax on Acquired Property 8,000 8 000 RPTTF 8.000 8,000
25 Contract Services-Other e. .rebate talc Various Various Consulting Services 1,387,797 60,339 ACA 339 10,000 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 Trustee Fees 161,000 6,360 ACA 6,360 0
28 Contract Services-ConsultingKeyser Marston Consulting Services-Pacific Hospitality 25243 25,243 RPTTF 0 25243 25,243
29 Pacific Hospitality Judgment Pacific Hospitality Judgment as Determined by Court To be Determined To be Determined RPTTF 0 0
30)ConfracTS-ervices -Financial Harrell&jaoffipany Advisors - anclR7OPS Consulting ----$� - -6;-538 -ACA - - 0-- 6,538 - - -- _- - --6,538
0
Totals-This Page 100826,781 6203,223 2,160,649 2,559,716 134013 54494 60994 92,075 1,141,282 4,042,574
Totals-Page 2 9,353,947 31180,395 549510 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 4,404,019 1,140,688 2,444,549 48,146 26,826 97,269 45,145 601,126 1 3.262,918
Totals-Page 5 1,419,170 184 170 0 495,367 0 110785 0 0 813,018 1,419,170
Totals-Page 674
Grand total-All Pages 177,830,051 20,716,026 0 5,873,238 7 330,893 270,541 1.114,825 430,452 424,303 5.221,505 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
otal Uutstanding
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 Jul -Dec Jan Feb Mar Aril May June I Total
1 2011 Open PO-Animal Shelter Allen F Smoot&Associates Animal Shelter Construction 32,856 32,856 Bond Proceeds 32,856 0
2 2011 Open PO-Animal Shelter Swatl/Meirs Architects Animal Shelter Construction 15,479 15,479 Bond Proceeds 15,479 0
3 2011 Open PO-Animal Shelter Planit Reprographics Animal Shelter 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 System 9 027 9,027 Bond Proceeds 9.027 0
6 2011 Open PO-Animal Shelter Moore lacofano Goltsman Downtown Desi n 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 State Industries Animal Shelter Cages 4,469 4,469 Bond Proceeds 4,469 0
9 2011 Open PO-Construction Rick Engineering S Palm Canyon Widening 5,198 5198 Fund Balance 5,198 0
10 Grounds Maintenance Various Operation of Acquired Property 160,000 8,000 RPTTF fi 000 400 400 400 400 400 2,000
11 Continuing Appropriations Various Animal Shelter Construction Bond Proceeds 98,915 98,915 Bond Proceeds 98,835 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 Dis ostion and Development A reement Endure Investments Financial Assistance 11400,000 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 Pmperty Lease 3,960,000 385,000 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
24 0
25 0
26 0
27 0
28 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
, LLOn 8 48
Totals-This Page 91353,947 3,180,395 549,510 250,400 1,315,557 9980,884
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 3 of 6 Pages
Project Area(s) Merged Project No.1
INITIAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AS 26•Section 34167 and 34169
otal(Jutstanding
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 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 Sharino 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 Payment-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 3140 RPTTF 3,140 3,140
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 Sharma Pursuant to Section 33401 1,197146 1.197,146 RPTTF 1,197,146 1,197,146
15 Contractual-Riverside Count Deferral 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 56,531R225,132
18 Contractual-Count Office of Education Count Office of Education Tax SharingPursuant to Section 33401 30,756 30,756 RPTTF 30,756
19 Contractual-Riverside CountyFlood Control Riverside CountyFlood Control Tax SharingPursuant to Section 33401 92,828 92,828 RPTTF 92,828
20 Contractual-Cemeta District CemeteryDistrict Tax SharingPursuant to Section 33401 4,105 4,105 RPTTF 4105
21 Contractual-Mos uito Abatement District Mosquito Abatement District Tax SharingPursuant to Section 33401 38,184 38,184 RPTTF 38,184
22 Contractual-Coachella Valle Water District Coachella Valle Water District Tax Sharma Pursuant to Section 33401 0 0 RPTTF
23 Contractual-Desert Water A enc Desert Water A enc Tax SharingPursuant to Section 33401 17,557 17,557 RPTTF 17,557
24 Contractual-Desert Water A enc DS Override Desert Water A enc Tax Sharin Pursuant to Section 33401 225132 225,132 RPTTF 225,132 25
26 0
27 0
28 0
29 0
31 0
32 0
33 0
34 0
35 0
36 0
37 90
38 0
39 0
40) 0
Totals-This Page 2,634,73 22,634,735 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 Protect No.2
INITIAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Iota[ us n mg
Debt or Obligation
as of June 30, Total Due During Source of Payments by month
Project Name/Debt Obligation Payee Descri tion 2011 Fiscal Year Payment Jul -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 Acquisition 12,407,609 W,503 RPTTF 325,164 523,339 523,339
3) City Loan and Interest Removed by the California Depart Operating and Administrative Costs RPTTF 0
_41 Agreement 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 Sustainabili Partial Prepayment of PSL 236 Lease 1,125,436 1,125,436 RPTTF 1,125436 1,125,436
fi 2004 Convention Center Bonds CityA of Palm Springs s enc Contribution to Convention Center 61900,000 300,000 RPTTF 150,000 150,000 150,000
7) Agreement for Reimbursement Removed by the California Depart ant of Finance RPTTF 0 0
8 Cooperative A reement City of 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 Cooperative A reement City of Palm Springs Insurance 177,760 8,888 ACA 4,444 2,222 2 222 4.444
10 Cooperative A reement City of Palm Springs Administrative Char es 1,509,220 75,461 ACA 37,596 18,798 18,797 37,595
11 Cooperative A reement City of PalmSprings Materials and Supplies 212,420 10621 ACA 2,701 1,320 1320 1.320 1,320 1,320 1,320 7,920
12 Cooperative A reement City of Palm Springs Building Rental 90,000 4,500 ACA 4 500
13 Contract Services-Audit Lance Soil&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 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 20,000 ACA 4,000 4,000 4,000 4,000 4,000 20,000
17 Bond Trustee Fees Bank of New York Mellon Trust Trustee Fees 161,000 4,520 ACA 4,377 143
16 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 575,000 575,000
20
21
22
23
24
25
26
27
28
29
31
32
33
34
35
36
37
38
39
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 Project No.2
INITIAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 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 Jul -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 United 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 1,871
5 SB 211 Payment-County Office of Education County Office of Education Tax Shannq Pursuant to Section 33607.7 1,018 1.018 RPTTF 1,018 1,018
6 SB 211 Payment-Riverside CountyRegional Par Riverside Count Regional Park Tax SharingPursuant to Section 33607.7 492 492 RPTTF 492 492
7 SB 211 Payment-Riverside Count Flood Control Riverside Count Flood Control Tax Sharing Pursuant to Section 33607.7 0 0 RPTTF 0 0
8 SB 211 Payment-CemeteryDistrict CemeteryDistrict Tax SharingPursuant to Section 33607.7 180 180 RPTTF 180 180
9 SB 211 Payment-Hospital District Hospital District Tax SharingPursuant to Section 33607.7 2,304 2 304 RPTTF 2 304 2 304
10 SB 211 Payment-Mosquito Abatement District Mosquito Abatement District Tax SharingPursuant to Section 33607.7 0 0 RPTTF 0 0
11 SB 211 Payment-Resource Conservation District Resource Conservation District Tax SharingPursuant to Section 33607.7 0 0 RPTTF 0 0
12 SB 211 Payment-Coachella Valle Water District Coachella Valle Water District Tax SharingPursuant to Section 33607.7 0 0 RPTTF 0 0
13 SB 211 Payment-CVWD Storm Water District CVWD Storm Water District Tax SharingPursuant to Section 33607.7 0 0 RPTTF 0 0
14 Contractual-Riverside Count Riverside Count Tax SharingPursuant to Section 33401 903,110 903,110 RPTTF 451,555 4 11,555 903,110
15 Contractual-Palm Springs Unified School District Palm Springs Unified School JDistrictTax Sharin Pursuant to Section 33401 184,829 184829 RPTTF 184829 184,829
16 Contractual-Colle a of the Desert Colle a of the DesertTax Sharin Pursuant to Section 33401 52756 52,756 RPTTF 52,756 52,756
17 Contractual-Coun Office of Education Count Office of EducationTax Sharin Pursuant to Section 33401 31,109 31,109 RPTTF 31,109 31,109
18 Contractual-Riverside Count Flood Control Riverside Count Flood ContTax Sharin Pursuant to Section 33401 60,746 60,746 RPTTF 43.812 16,934 60,746
19 Contractual-Cemeta District Cemeta District Tax Sharin Pursuant to Section 33401 919 919 RPTTF 919 919
20 Contractual-Mos uito Abatement District Mos uito Abatement DistrictTax Sharin Pursuant to Section 33401 0 0 RPTTF 0 0
21 Contractual-Coachella Valle Water District Coachella Valle Water DistTax Shanno Pursuant to Section 33401 29,027 29,027 RPTTF 29,027 29,027
22 Contractual-Desert Water Agency Desert Water Agency Tax Sharma Pursuant to Section 33401 8,257 8,257 RPTTF 8,257 8,257
23 Contractual-Desert Water Agency DS Override Desert Water Agency Tax Sharinq Pursuant to Section 33401 102,528 102,528 RPTTF 102,528 102,528
24 0
25 0
26 0
27 0
28 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 1,419A70
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 Area(s) Low and Moderate Income Houisng Fund Obligations
INITIAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Total us n 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-Dee Jan** Feb Mar Aril May June Total
1 2001 Housing Tax Allocation Bonds Bank of New York Mellon Trust Refinance 1991 Housing Tax Allocation Bon 5,030,290 834,352 LMIHF/RPTTF 368,834 465,518 465,518
2 Housing Pro'ects and Programs To Be Determined 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
4 Ni hten ale Manor Improvements Low Mod Housing Fund Low Mod Housing Project 60,000 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 Agreement 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 A reement City of Palm Springs Insurance 35,660 1,783 ACA 892 446 446 892
9 Cooperative A reement City of PalmSprings Administrative Charges 1,195,800 59,790 ACA 29,895 14,948 14,948 29,896
10 Cooperative A reement City of Palm Springs Materials and Su lies 152,400 7,620 ACA 2,286 889 889 889 889 889 889 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.g.rebate calc Various Various Consulting Services 50,000 5,000 ACA 1,000 1,000 1,000 1,000 11000 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 36,683 248,450 862,095
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