Loading...
HomeMy WebLinkAbout3/3/2015 - STAFF REPORTS - 3.A. OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY TO THE PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY BOARD REPORT MEETING DATE: March 3, 2015 NEW BUSINESS TITLE: APPROVING THE RECOGNIZED OBLIGATIONS PAYMENT SCHEDULE (ROPS 15-16A) FOR THE PERIOD OF JULY 1, 2015 THROUGH DECEMBER 31, 2015, PURSUANT TO SECTION 34169(g)(1) OF CALIFORNIA HEALTH & SAFETY CODE INITIATED: Department of Community & Economic Development RECOMMENDATION: 1. Adopt Resolution No. , "A RESOLUTION OF THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY TO THE PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY, APPROVING THE RECOGNIZED OBLIGATIONS PAYMENT SCHEDULE (ROPS 15-16A) FOR THE PERIOD OF JULY 1, 2015 THROUGH DECEMBER 31, 2015, PURSUANT TO SECTION 34169(g)(1) OF CALIFORNIA HEALTH & SAFETY CODE." BACKGROUND AND ANALYSIS: The ROPS is the document used to determine the amount of the previously-called tax increment the Successor Agency will be allowed to retain on a six month basis, as well as the amount of the Successor Agency's allowable administrative budget. A new ROPS must be adopted for each successive six-month fiscal period. Over the past three years, the Successor Agency and Oversight Board have approved the ROPS for each upcoming six month period, which then are submitted to the Department of Finance for review and approval. Since the approval of the ROPS 15-16A by the Successor Agency Board on February 18, 2015, the City and Successor Agency have determined that the use of unexpended bond proceeds from the 2007 Series C Tax Allocation Bonds, in the amount of $1,039,996 and referenced in the approved ROPS as Item Number 69, has been changed from "to he allocated in future ROPS" to being allocated for use in ROPS 15-16A. At the point of award of the contract to the contractor, the Successor Agency shall approve an amendment to its adopted ROPS conforming it to this action. The use of the funds would be for the construction of parking in former Merged Project Area No. 2, to serve the Convention Center area, which serves an appropriate redevelopment expenditure under the former Redevelopment Plan and the Implementation Plan. rMM NO. 3 , . RESOLUTION NO. 033 A RESOLUTION OF THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY TO THE PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY, APPROVING THE RECOGNIZED OBLIGATIONS PAYMENT SCHEDULE (ROPS 15-16A) FOR THE PERIOD OF JULY 1, 2015 THROUGH DECEMBER 31, 2015, PURSUANT TO SECTION 34169(g)(1) OF CALIFORNIA HEALTH AND SAFETY CODE. 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, 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, 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 34171(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, all other legal prerequisites to the adoption of this Resolution have occurred. NOW, THEREFORE, BE IT RESOLVED that the Oversight Board for the Successor Agency to the Palm Springs Community Redevelopment Agency does resolve as follows: SECTION 1. The Recitals set forth above are true and correct and incorporated herein by reference. SECTION 2. The Recognized Obligation Payment Schedule (ROPS 15-16A) for the period of July 1, 2015 through December 31 , 2015, attached to this Resolution as Exhibit A, is hereby approved. Resolution No. 033 Page 2 SECTION 3. The Clerk/Secretary or designee is authorized to take all actions necessary to implement this Resolution, including without limitation, the posting of this Resolution, and the Recognized Obligation Payment Schedule on the Successor Agency's website, provide notice of adoption of this Resolution and such Schedule to the County Auditor-Controller, the State Controller and the State Department of Finance. SECTION 4. This Resolution shall take effect three (3) business days from adoption. PASSED, APPROVED AND ADOPTED BY THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY TO THE PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY THIS 3RD DAY IN MARCH, 2015. OVERSIGHT BOARD CHAIR ATTEST: JAMES THOMPSON, CLERK/SECRETARY Resolution No. 033 Page 3 CERTIFICATION STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss. CITY OF PALM SPRINGS ) I, JAMES THOMPSON, Secretary of the Oversight Board for the Successor Agency of the Palm Springs Community Redevelopment Agency hereby certify that Resolution No. 033 was adopted by the Oversight Board at a Special Meeting held on the 3RD day of March, 2015, by the following vote: AYES: NOES: ABSENT: ABSTAIN: JAMES THOMPSON OVERSIGHT BOARD CLERK/SECRETARY City of Palm Springs, California Recognized Obligation Payment Schedule (ROPS 15-16A) - Summary Filed for the July 1, 2015 through December 31, 2015 Period Name of Successor Agency: Palm Springs Name of County: Riverside Current Period Requested Funding for Outstanding Debt or Obligation Six-Month Total Enforceable Obligations Funded with Non-Redevelopment Property Tax Trust Fund (RPTTF) Funding A Sources (B+C+D): $ 3,666,523 B Bond Proceeds Funding (ROPS Detail) 1.039.996 C Reserve Balance Funding (ROPS Detail) 1,127,077 D Other Funding (ROPS Detail) 1,499,450 E Enforceable Obligations Funded with RPTTF Funding (F+G): $ 1,666,537 F Non-Administrative Costs(ROPS Detail) 1,647,095 G Administrative Costs (ROPS Detail) 19,442 H Current Period Enforceable Obligations (A+E): $ 5,333,060 Successor Agency Self-Reported Prior Period Adjustment to Current Period RPTTF Requested Funding I Enforceable Obligations funded with RPTTF (E): 1,666,537 J Less Prior Period Adjustment (Report of Prior Period Adjustments Column S) -t i K Adjusted Current Period RPTTF Requested Funding (I-J) $ 1,636,196 County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding L Enforceable Obligations funded with RPTTF (E): 1,666,537 M Less Prior Period Adjustment(Report of Prior Period Adjustments Column AA) - N Adjusted Current Period RPTTF Requested Funding (L-M) 1,666,537 Certification of Oversight Board Chairman: Chairperson Pursuant to Section 34177 (m) of the Health and Safety code, hereby certify that the above is a true and accurate Recognized Name Title Obligation Payment Schedule for the above named agency. Is/ 2/26/2015 Signature Date Recognized Obligation Payment Schedule(ROPS 15.16A)•ROPS Detail July 1,2015 through December 31,2015 (Report Amounts in Vd ulc Dollars) A B C D E F G H I J K L M N O P Funding Source NOFRedevelopmem Property Tax Trust Food N.RPTTF RPTTF ContractiAgreement Contract/Agreement Tote)Outstanding Item a Protect Name/Debt Obligation Odi anon T e Execution Date Te orearr on Dale Fares Desrn tionmro ect Scope Pro ed Area Debt or Obli etion Retired Bond Proceeds Reserve Balance purer Funtls NOM1AJtmin Adm in Sx-Month Total $ 115,265,385 1 039 9% $ 1 127 077 S 1,499,450 S 1 647 095 S 19 442 5 5,333,060 007 Tax Allocation Bonds Series A Bonds Issued On or 9118 007 911 034 US Bank Capital Promote Merged 1 21.483.488 N 309613 309,61 3 2007 Taxable Tax Allocation Bonds, Bonds Issued On or 9/182007 9112034 US Bank Property Acquisition Merged 1 3,385.375 N 58,647 S 58,647 Series B Before 12131/10 4 SERAF Loans SERAFIERAF 4/202010 6/302037 Palm Springs Housing Loans for FY 2W9/10 and 2010/11 Merged 2,164,456 N 1,109,000 - $ 1.109,000 Successor SERAF Pa ents 5 Housing Deferral Repayment SERAFIERAF 1/1/1996 MD2037 Palm Springs Housing Pre-1986 Set A.lide 00" Merged 1 1.532.669 N $ - Successor 6 2004 Convention Center Bonds Revenue Bonds 6/62007 11/1203I City ct Palm Springs Agency ContriBution to Convention Merged 1 27,300,W0 N 650,000 $ 650.000 Issued On or Before Center Expansion 12/31/10 7 Contract Services -Financial Fees 9222DIO 6r30/2019 Hemet&Company Merged 1 Bonds Disclosure!Rating Merged 1 34,200 N $ - Advisors 8 Conrad Services-Rebate Fees 6142010 6/302016 Welder Financial Services Merged 1 Bonds Rebate Consulting Merged 1 15,000 N $ - CalcWetion Services 91 Bond Trustee Fees Fees 6I162004 11/12D34 US Bank Memel 1 Bontls Trustee Fees Merged 1 1 75," N 4.D00 $ 4,000 11 Disposition and Development OPAMDA/Conslrucli 12/52005 9112022 Endure Investments Financial Assistance(10 Year) Merged 1 980,000 N 140.000 $ 140,000 Agreement on 12 Oymer Participation Agreement Business Incentive 11192000 6/302018 VIP Molars Financial Assistance Merged 1 400.D00 N $ Agreements 15 2007 Taxable Tax Allocation Bonds. Bonds Issued On or 9I182W7 9/12034 US Bank Property Acquisition Merged 2 10,329.297 N 340 211 $ 340,211 Series C Before 12/31110 16 Agreement for Reimbursement Miscellaneous 12/6/2006 6/30/2037 City of Palm S dos PSL-236 Lease Merged 2 9 386,781 N 122.892 S 122,892 17 2004 Convention Center Bonds Revenue Bonds 6M2W7 11/1/2034 City of Prim Springs Agency Conlribulion to Convention Merged 2 6,300,000 N 150,ODO $ 150,000 Issued On or Before Center Expansion 12/31110 19 Contract Services-Financial Fees 922/2010 6/302019 Harrell&Company Merged 2 Bonds Disclosure(Rating Merged 2 34.200 N $ - Advisars 20 Bond Trustee Fees Fees 611620U4 1111120M US Bank Merged 2 Bonds Trustee Fees Merged 2 40,000 N 2,000 $ 2,555 25 Contract Services-Audit Atlmin Costs 4152010 8/302016 Lance Sol&Lun hard Audit Serrices Mer edll Merged 2 321000 N 9.000 $ 9,000 26 Contract Serowe-Le al Legal 1/122005 61302016 Woodruff S radlin General Le NCounsel Mer edl:Merged 2 91 W0 N 9000 $ 9,0010 27 Contract Services-Financial Atlmin Costs 7/19/2008 61302019 Hen ell&Company POPS Consuting Mc,ad ll Merged 2 96,000 N 4.000 S 4,W0 Advisors 33 Administrative Cost Allowance Admen Costs 7112D15 6/302016 City of Palm Sons Overhead Cost AllocationlSalanes MeredV Merged 4,675,000 N 105.558 19442 $ 125,OW 34 Loan CitylCounty Loans 5MM998 11/12035 Palm Springs Housing Loan to Merged Project No.1 Merged 1 24,503 N $On or Before 627/11 Successor 35 Agreement for Reimbursement City/County Loans 10/16/1991 11/12035 City of Palm Springs Protect Costs Merged 1 413,500 N $On or Before 627111 Wastewater Fund 36 Agreement for Reimbursement City/County Loans IW16/1991 11/12035 City of Palm Springs Protect Costs Merged 2 413,500 N $On or Before 627/11 Wastevreter Fund 37 Agreement for Reimbursement City/Courdy Loans 62211993 11/12035 CRY o/Palm Springs Project Costs Merged 2 400,91)0 N S On or Before 627111 Wastewater Fund 38 City Loan and Interest City/County Loans 6/15/2011 111120M City of Palm Springs Operating and Administrative Costs Merged 1 1,553.913 N $ On or Before 6/27111 For FY 2011-12 39 CM Loan and Interest City/County Loess W152011 11112035 City of Palm Springs Operating and Administrative Costs Merged 2 103.250 N $On or Before 627111 For FY 2011-12 40 Cey Loan and Interesl CitylCcumy Loans 6/152011 11/12035 City of Palm Springs Operating and Administrative Costs Merged!!Merged 2 2.01 t 7H5 N $On or Before 627/11 For FY 2010-11 41 Agreement for Reimbursement CitylCouny Loans 12/612006 11/12035 City of Palm Springs Prepay Portion of PSL 236 Merged 2 1,139.872 N E On or Before 6127/11 Sustainabil- Fund - Recognized Obligation Payment Schedule(ROPS 15-16A)-ROPS Detail July 1,2015 through December 31,2015 (Report Amountsin Whole Dolersl A 13 C D E F G H I J K L M N 0 P Funding Source Nor-Redevalopmmd Property Tax Trust Fund Nor-RPTTF RPTTF ContracluAgreement CordracOAgreement Total Outstanding Item a Pr ject Name I Debt Obli ation Obli arm T Execution Date Telmmebon Date Pe ee Des 'onPr 'ect S Pr 'aid luea Debt or Obli ation Retired B. cl Proceeds Reserve Balance Other Funds NnrvAEmin Pdmin Six-Monde Total 43 2007 Tax Allocation Bonds,Series A Reserves 9/182007 9IM034 US Bank Reserve for September 1 Debt Service Merged 1 - N $ - 41 ZOD7 Taxable Tax Allocalm Bonds. Reserves 9/182007 9112034 US Bank Reserve far September 1 Debt Service Merged 1 - N $ - Series B 46 2007 TaxaFile Tax Allocation Balls, Reserves 9/182007 9I12034 US Bank Reserve for September 1 Debt Service Merged 2 - N $ - Series C 48 Properly Tex-Cork a Butte Properly 7112013 6/302019 County of Riverside Property Taxes on Agency Held Land Merged 1 12 000 N 2.000 S 2,000 Property Maintenance Pending PMP-Cument Installment 49 Property Tax -Cork a Bolds Reserves 7112015 6/302016 County of Riverside Reserve for Next Installment of Merged 1 2 000 N 2.000 E 2,000 Property Property Tax on Item 48 50 Property Tax-PSL 236 Property Property 7/IM13 6l10/2037 Crony of Riverside Property Taxes on Property Under PSL Merged 2 256,000 N 445 4,555 $ 5,000 Maintenance 236 Lease-Current Instalment 51 Property Tax-PSL 236 Property Reserves 7/12015 "02016 County of Riverside Reserve for Next Instalment of Merged 2 5 000 N 5.000 S 5.000 Property Tex on Item 50 52 Fine Theatre-Insurance Property 7/12015 6�02016 CM of Palm Springs Insurance on Agency Held Property Merged 1 24,D00 N 6,000 $ 6,000 Malrdenence Pending PMP 53 Fine Theatre-Maintenance Property 7/72015 6/302016 CM of Palm Springs Maintenance Casts on Agency Held Merged 1 7,500 N 3,500 E 3.500 Maintenance Property Pending PMP 54 Plaza Theatre-Consulting for Property 7/12015 ar302016 To be determined Estimate to Renovate Agency Held Merged 1 Y E - Renovation Maintenance Property Pending PMP 56 Plaza Theatre-Utilities Property 7/12015 8/302016 Desert Water Utilities for Agency Held Property Merged 1 6,000 N Tow $ TOM Maintenance Pending PMP 57 Plaza Invesbnent Lease Property 7M2003 MI2018 Plaze Invesbnents Lease of property adjacent to Plaza Merged 1 29200 N 5.600 $ 5.600 Maintenance Theatre used for access 58 Cash flow Loan RPTTF Withholding City/County Loans 11202013 1=12014 City of Palm Springs Cash Tow loan for purpose of paying Mergedl/Merged 2 1,503,000 Y S - Afler 627/11 DDR amounts to offset RPTTF Withholding ROPS 1314B 61 Reimbursable Casts Miscellaneous 7/12015 6r3=016 City of Palm Springs Staff Costs relating to Me preparation Mergetlt/Merged 2 Y b and completion of ale refinancing of 2001 and 2004 Bonds 62 2014 Subordinate Tax Allocation Refunding Bonds 8/19M14 9/12034 US Bank Refnumang of 2001 and 20N Bonds Merged I Merged 2 22.367.100 N 418.161 308 450 $ 1,226.601 Bonds Issued Ada 627/12 63 Contract Services -Financial Fees 9222D10 6/302019 Harrell 8 Company 2014 Bonds Disclosure reatng Mergedl/Merged 2 34,500 N E Advisors 61 Contract Services-Rebate Fees 6/42010 6302016 Wilder Financial Services 2D14 Bonds Rebate Consulting Mergedt/Merged 2 10.000 N S Calculation Services 65 Bond Trustee Fees Fees 811921)14 9/1203/ US Bank 2014 Bonds Trustee Fees Mirgai Merged 2 65000 N 3 DDO' E 3.000 66 2014 Subordinate Tax Allocation Reserves 81192014 9/1/2034 US Bank Reserve for September 1 Debt Service Merge dill Merged 2 - N E - Bonds 67 LMIHF DDR Overpayment Miscellaneous 11202013 61302015 City of Palm Springs Excess Transfer for LMIHF DDR MargedliMerged 2 Y $ 68 Advance from the City for Cork 6 Property 71112014 6.3W2015 City of Palm Springs 80 year dill building has unsafe Mansell Y $ - Roble Building Electric Rewinng Maintenance aluminum ynnng and is in danger of an electrical fire,and it is occupied by a tenant 69 Capital Pool ds Improvemenmorbaslr Vid?015 6M2034 To be determined Remaining 2007 Series C Bond Merged 2 1 039,9-611 1 039.996 E 1.039.996 ucture Proceeds 70 N $ 71 N E 72 N E 73 N E 74 N E Recognized Obligation Payment Schedule(ROPS 15-16A)-Report of Cash Balances (Report Amounts in Whole Dollars) Pursuant to Health and Safety Code section 34177(1),Redevelopment Property Tax Trust Fund(RPTTF)may be listed as a source of payment on the ROPS,but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obligation. For tips on how to complete the Report of Cash Balances Form,we https://rad.dof.ca.gov/rad- s/ df Cash Balance A aria Ti s Sheet. df. A B C D E F G H I Fund Sources Bond Proceeds Reserve Balance Other RPTTF Prior POPS Prior ROPS period balances RPTTF Bonds Issued on and DDR RPTTF distributed as Rent. Non-Admin or before Bonds Issued on balances reserve for future Grants, and Cash Balance Information by ROPS Period 12/31/10 wafter 01/01/11 retained pi Interest,Etc. Admin Comments ROPS 14.15A Actuals 07101114•12/31114 1 Beginning Available Cash Balance(Actual 07/01/14) Column C-See Worksheet Adjustment to 3,214,070 1,656,898 37.172 302,986 Beginning Balance 2 Revenue8ncome(Actual 12/31/14) Column F$7B adjustment correct beginning RPTTF amounts should tie to the ROPS 14-15A distribution antto ution from the balance on Line 1 forto incorrect carryover reserve County Auditor-Controller during June 2014 2,745 17,385,071 78 20,898 1.180,739 balance on lines 48 and 50,see Notes 3 Expenditures for ROPS 14-1SA Enforceable Obligations(Actual 12131114) Column C-Applied to Refunding of 2004 Bonds, RPTTF amounts,H3 plus H4 should equal total reported actual Column H-included$142,821 for 14-15A expenditures in the Report of PPA,Columns L and O 2,176 688 1 17,383,875 656.531 16,855 1,395,975 Approved EO shown on PPA but paid in January 4 Retention of Available Cash Balance(Actual 12131114) RPTTF amount retained should only include the amounts distributed as reserve for future periods) 1.040 127 1 195 Co umn G-Retained for 14-15B Approved EO 5 ROPS 14.15A RPTTF Prior Period Adjustment RPTTF amount should tie to the self-reported ROPS 14-15A PPA in the No entry required Report of PPA.Column S 6 Ending Actual Available Cash Balance C to G=(1+2.3.4),H-(1+2-3-4-5) $ - $ - $ - $ 445 S 7.043 S 57,409 ROPS 14-15B Estimate 01/01/15•06/30/15 7 Beginning Available Cash Balance(Actual 01/01115) (C,D,E,G=4+6,F=H4+F4+F6,and H=5+6) b 1,040,127 $ 1,196 b - b 445 b 41,215 b 87,750 8 Revenuelincome(Estimate 06130/15) Column D-Transfer of minor remaining RPTTF amounts should tie to the POPS 14-15B distribution from the balances for 2001 820D4 Bonds to 2014 Bonds County Auditor-Controller during January 2015 trustee to apply against future payment:Column 131 1,492,407 2 382 001 G-Land Sale Proceeds 9 Expenditures for ROPS 14-15B Enforceable Obligations(Estimate balances for 2001 82004 Bonds to 2014 Bonds 06/30/15) 131 34.172 2439410 trustee too a ainst fulure payments 10 Retention of Available Cash Balance(Estimate 06130115) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) - 11 Ending Estimated Available Cash Balance(7+8-9-f 0) b E - E - E 445 b 1,499 450 b 30,341 Recognized Obligation Payment Schedule(ROPS 15-18A)-Repon of Prior Period Adj.Pm.nts Rebated for the ROPS 14-15A(July 1.2014 through December 31,2014)Petlad Pursuant to Heats and Safety Code(HSC)section U186(a) (Report Amounts in Whole Dollars) RODS 1415A Successor Agency(SA)Sets-mporUd Prior Period Adjusonents(PPA):Pursuant M HSC Section 34186(a),SAs are required to report the ciffferences be,Neen their actual available funding and their actual expenditures for the ROPS 1415A(July through December 2014)penod. The amwM of Redevelopment Property Tax Tmat Fund(RPTTF)approved for Me ROPS 15-16A(July through December 2015)penod vdB be offset by the SA'a seff+epated POPS 14-15A pna bend adjustment.HSC Section Ml 86(a)also spea5es Mat Me pnor bend Bdlustments self-reposed by SAs are subject to audit by Ilse .ntvaudm.,ccntr w CAC and the Stale Comdalle,. A B C 0 E F G X 1 I J N L M N O P 0 R 9 T Non-RPTTF Ex"mclitures RPTTF Expenditures NN SA Nm-A4mm are!AOmm PPA (Amaum uaae ra OI4N POPS 13-16A BOMM d. ReFerw pWnu ONe,F." fl r wnln &POP R[gwN[a 0.PTTF) A.Awl a AwYMa Dafennce RPTTF RPTTF Muum..ual (ROPS 14-15A Defer-a a (ROPS 1H5A nut 6innbulad•NI Mar rat Leuer 0 OF P la N[a an L. 6i tnWad c M dMr Its Leavr of aurNna.d.IN Prq[cr NameI a velade Its AWmrlxaaI Its a6lennce Is avaYaGe aiM Aulhor4[a1 tool OMennc[la NN OMennce Kama Dabt Olekwon Aumwleea A[hur AuMorlaa0 Adwl A oriz.d Actual AIniNdr.d OTI1114) AwYMe 4WN erv) AMMMa 0711114) AwWWe Actual era) IM.R) SAC.... $ f - i 1b56,696 f 18R,531 S 25.000 f 18855 s 1301316 S 1301,316 S 1.W1,316 S 1.27O.9T5 S 30,341 i 125,000 f 125,000 S 125000 $ 125.090 $ - f Kul 1 20M Tax AMoraaon 594.947 594647 179742 176742 S 178742 178.742 2 2007 Tax AgoWlon 185768 155 T65 123,545 123 Us i 123845 123.Us 3 2007 Taxade Tax 35,1 Be 35.158 23459 23,459 i 23.459 23459 $ S N...Bands. Sme.B 4 ME Lwns f 5 HouvnB ONm el i R em 6 2c04Cmvemion - $ $ $ C4+aer Band. T Contra.Semces- 1000 1,000 E 1." i +Poo 5 I coo Finadcw 6 ccsrdserncea- f s - $ R".ealculabon 9 Bond Trust"Fees 7,000 70c0 S 7,000 3120 S 3,00 S 3 650 11 DiW..end - 140,000 140.000 S 140.000 140.000 S S - AP at 12 1,debulaM on January 8. D Nognenl 2015 INneem. 12 Oewr Pame,.ion - i S f umlem 13 Patific Haal>•Wdy - 350,000 350.000 S 350,000 331450 $ 18,550 y 16 S50 Jud 14 2W4 Tax Mounon 301393 301393 105,735 105.735 S 105,735 1Mv,T35 S - S Refunding Bonds. Senea B 15 2007 T...Us Tax 2 0,558 me NO - 104.705 104.705 S 1114.705 104.TOO S f ANowtian Bonds, Senea C 16 Apraemem for - - 122.592 121JI92 i 122.892 122.$92 $ 6 RNmauraamRd 17 2004 Canvemmn s f f Came.Bands 18 comn[r Smmee- 1000 +mo f +.OW s I'M 5 1000 Fiwn.N 19 Oomractsarvices- f S $ R C lion 20 bondoad sura,Hweng Tax 4500 4.500 f 45911 3421 208T S 2087 21 2001 HwsingTu - 305422 ]05422 69.486 B]A98 $ 53ABB $3.421 S TS f TS 22 corduC Senicea- - SW 500 f 600 $ 500 f 500 Fmm.. 23 Lo n. 5OAXZ f f f Reoale Calcda0on b Bond Tlumee Fees 2500 2500 E 2,500 500 b 2500 Recognized Obligation Payment Schedule(RODS 15-16A)-Report of Pror Period Adjustments Reported for Ole POPS 14-15A(July 1,2D14 through December 31.2014)Penod Pursuant to Health and Seery Code(HSC)section 34186(a) (ReportAmounts in Whole Dollars) ROPE 14-1SA Successor Agency(SA)Saff-sported Prior Period Adjustments(PPA):Pursuant to HSC Section 34186(a),SAs are required to repod the differences between their actual available funding and tlreir actual expenditures for the BOPS 14-15A(July through December 2014)period. The amount of Redevelopment Prop"Tax Trust Fund(RPTTF)approved for the ROPS 1S16A(Judy through December 2015)penco wN be offset by the SA self-reported POPS 14-15A poor period adjustment.HSC Section 34186(a)also speaftes that the:,nor period adjustmerds self-reposed by SAS are subject to audit by Me Cou autlitor-controler CAG and!the State Controller. A Is C I E F G I l K L M N O P 0 R 5 T Non-RPTTF Expenditures RPTTF Expenditures No$F Non-AYmi, and AYmN PPA Iwni em us.n r. Ofart ROPS 15-16A GpM hewed. Rewle Hsi OIMrFunw Nen.Aamin Aamin Raeuested RPM) Available Affiliates pMevor. RPM RPTTF In total actual (ROP51445A pittan ce (ROP514-05A H f.ddtl distributed•All other Nat laeeer if pr K A,Ma it..L, dinnEule l•r other NN ltlNr M aurn.n.d,Ina Prajam N.aes a f .adebla a or ANNadW I Me difference isavailable as of ANN9M0I 1.1 dmennce n Nn Difference Nemr wM cdenat d gc 1 on AUM. ANRdr4M Acted featherbedfeatherbed "An 4tl1M1pe 0711114) Avawtee ACWY um) ANtannd 0]11114) Awww Actual vro) (M.RI SACcand s 1656,6911 i 1856,531 3 25.000 3 15.355 i 1,Sm,31e f 1301316 i 1301,316 3 1Y 0.975 3 30.341 3 125p00 f 125,000 S 125,Ooo S 125000 3 - s 30.341 25 Canon Semcas- - 3 11 - S Audit 26 CororatlSerncea- 3 i i LOW 27 Canna Semcea- - a - f i Linsiotl 32 Laffereent act! - A lamaM b AammislMive Cnsl $ 3 f Nleance u a s 35 Agreemea for - - a - Reanbursemem 36 AGrnmem for - $ 3 s RamGxsemmt 37 Agraemenn for - - It i s - Reirrounement ]e cM loan and - E i f - Inkeen 39 coy Loan and - - a Ini 40 Coy Loan and - 3 Imm.l 41 Agreement for - 5 3 i Rnmbunemem 42 2004 Tax ANucallon Refunding Bond., San..A 43 2007 Tax M.fion - a i s Bond.Sen.eA u NOT Taxada Tax - S 7 s mouaon Bona., sari.!B AS 2004 Tax Aaocm,on Refunding Bonds. San..B 46 2907 Taxala.Tax - - 3 E b M....Bonds, Sines C 47 2001 Hrueng Tax - i $ $ - Axduaon Bonds 4e vrolleny Tax-coot 1,126 1100 95 - s a a - See Notes:$74 aqunmem ngunot to 3 Soft.Pmgtry R.svrve Lore Fl on ush loan Recognized Obligation Payment Schedule(ROPS 15-16A)-Report of Prior Period Adjustments Reported for Me POPS 14-15A(July 1,2014 through December 31.2014)Penod Pursuant to Heats and Safety Code(HSC)section 34186(a) (Report Amounts in Whole Dollars) ROPIi W SA Succe9sgr Agency(SAI SeH-reported Prior Period Adjustments(PPA):Pursuant to HSC Section 34166(a),SAs are required to report the dfference,betneen their aMal available funding and their actual expenditures for the POPS 14-15A(July through December 2014)period. The amount of Redevelopment Property Tax Trust Fund(RPTTF)approved for Me ROPS 15-16A(July through December 2015)period will be offset by Me SA se6-reported POPS 14-15A prior period adjustment,HSC Section 34166(a)also speixres Nat Me poor period adjustments seSYeponed by SAs are subject to audit by the dount,auditor-comroper CAC and Me State Controller, A B L p E F G H I J N L M N O P O R 6 T Non-RPTTF Expenditures RPTTF Expenditures Net SA NenAemin end AOmin WA Olin ROPS 15-16A lMd Procw4 Reurn balance Other Funds NamAdein Allen M1equened RPTTF) Available Available Dtlennce Iti MTTF It trial aRual (RODS 1115A DMennn (RDPS WM caeca.1 duardi.d-M other Net Lawn A Its R IF Ma Men L dldnbu iul.M OMer Nbi tMSaI M ...mad.M Projen Neee/ vailade ae or AUMwlvdl the dtNnnwh avaiada esof Au11wnW1 total eminence Is NearptNrxtn Mm .d Aceual e Debi OM,,W,on AN1M. AdmixtureAcral Am ermaea Actual Authorized! S 07111141 AnWW Actual r«ol Attlterl5ed 0711114) ANYW Actual rent IN.R) Ll cee . $ - S - S 1.656.5511 S 1a%531 i 25,000 S 166% S 1,301,316 S 1 %,301315 S 1,301,316 i 1.270.975 S 30,341 S 125,000 S 125,0 S 1a'� S 125.000 S - S 30.341 49 Preedy Tax-Cu - 1,326 1326 S 1025 1,326 S S S ache Properly SOPu W,Tax-PSL 4 3% 3,955 - i - S 3 - See Noted:N adjustment Ngeoc tr e 736 ppedy Receive Line FI on asn form 51 Rrgdy Tax-PSL - 4,3% 4,395 $ 4.396 3955 f H1 5 441 236 52 Raza Trial.- 6,000 6000 S 6.000 6,000 S - b Imu.nw 53 Plaza Theme- - 1D.020 10020 S 10.020 to.= S S 6wmenance 51 M.7heatn- S S S Renovation 55 R.Theaee- f i 5 IW 55 Find,Theaae- - 10% 1000 S 1.D00 742 i 256 S 258 Leamed 57 Fana lnvesteeM - _ 4,500 4500 S 4.500 4600 6 - $ - Adualy ai0$5.GOO in wen Lease iodudin9 i6o0 nth due uml Jenuery 1. 20151RCPS 14 1*expense)ex paid n Science da to Middy SB Caeh OM Lwn RP F Wdhhddin 59 Cash 6w Lan re 24,400 24400 3 24.400 24,350 f W 5 50 Fare Theaee 60 Life are Lwnlor 25,000 16.760 - $ - S S vNv crm earn Recognized Obligation Payment Schedule (ROPS 15-16A) - Notes July 1, 2015 through December 30, 2015 Item k Notes/Comments 57 Includes 7 monthly payments of$800 instead of 6 payment because of one payment due January 1, 2016 but paid in December 2015 due to holiday 69 The Agency hes received the FOC and will be entering into a contract for expenditure in 15-16A The reserve of RPTTF approved in 13-14B for the December 2014 tax bill was $1400 (See line 49 of 13-148). When 14-15A was prepared, $1,326 was input in the reserve column, even though it should have been $1400. The Agency applied $1400 toward the tax bill. The total tax bill for the December and April installment was $2,821, $95 more than the funding request of$1400 from 13-14B + $1326 from 14-15A. The Agency used other funds on hand and had the OB approve a resolution PPA 4849 for the change in funding; paid in January so this is an A/P for cash reconciliation The reserve of RPTTF approved in 13-14B for the December 2014 tax bill was $4400 (See line 49 of 13-14B). When 14-15A was prepared, $4396 was input in the PPA 50-51 reserve column, even though it should have been $4400.