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Home My WebLink About9/15/2015 - RESOLUTIONS - 035 RESOLUTION NO. 35 A RESOLUTION OF THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY TO THE PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY, APPROVING THE RECOGNIZED OBLIGATIONS PAYMENT SCHEDULE (ROPS 15-16B) FOR THE PERIOD OF JANUARY 1, 2016 THROUGH JUNE 30, 2016, 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 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, 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 15-16B) for the period of January 1, 2016 through June 30, 2016, attached to this Resolution as Exhibit A, is hereby approved. Resolution No. 35 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 OF THE CITY OF PALM SPRINGS THIS 151h DAY OF SEPTEMBER, 2015. CATHY VAWHORN, OVERSIGHT BOARD VICE CHAIR ATTEST: T MES THOMPSON, CLERK/SECRETARY Resolution No. 35 Page 3 CERTIFICATION STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss. CITY OF PALM SPRINGS ) I, JAMES THOMPSON, Clerk/Secretary of the Oversight Board for the Successor Agency of the Palm Springs Community Redevelopment Agency hereby certify that Resolution No. 35 was adopted by the Oversight Board at a Special Meeting held on the 15T" day of September, 2015, by the following vote: AYES: Board Members Arthur, Marshall, Ready and Vice Chair Van Horn. NOES: None. ABSENT: Board Member Foat and Chair Howell. ABSTAIN: None. ES THOMPSON 6-OVERSIGHT CLERK/SECRETARY City of Palm Springs, California Recognized Obligation Payment Schedule (ROPS 15-16B) - Summary Filed for the January 1, 2016 through June 30, 2016 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): $ 1,081,071 B Bond Proceeds Funding(ROPS Detail) 1,048,346 C Reserve Balance Funding(ROPS Detail) 7,000 D Other Funding (ROPS Detail) 25,725 E Enforceable Obligations Funded with RPTTF Funding(F+G): $ 2,405,457 F Non-Administrative Costs(ROPS Detail) 2,280,457 G Administrative Costs(ROPS Detail) 125,000 H Total Current Period Enforceable Obligations(A+E): $ 3,486,628 Successor Agency Self-Reported Prior Period Adjustment to Current Period RPTTF Requested Funding I Enforceable Obligations funded with RPTTF(E): 2,405,457 J Less Prior Period Adjustment(Report of Prior Period Adjustments Column S) (65,500) K Adjusted Current Period RPTTF Requested Funding (IJ) $ 2,339,957 County Auditor Controller Reported Prior Period Adjustmentto Current Period RPTTF Requested Funding L Enforceable Obligations funded with RPTTF(E): 2.405,457 M Less Prior Period Adjustment(Report of Prior Period Adjustments Column AA) - N Adjusted Current Period RPTTF Requested Funding (L-M) 2,405,457 Certification of Oversight Board Chairman: (''i-1 T /4 l/ IIA U{-�?�P/J . , /CC e-11,4/)Q Pursuant to Section 34177(m)of the Health and Safety code, I hereby certify that the above is a true and accurate Recognized Name Title Title Obligation Payment Schedule for the above named agency. C, n Isl Signature Date A7TJMS-f' �i caKrS.t.�le.eTA¢.Y Palm Springs Recognized Obligation Payment Schedule(ROPS 15-168)- ROPS Detail January 1, 2016 through June 30, 2016 (Report Amounts in Whole Dollars) A B C D E F G H 1 J K L M N O P Funding Source Non-Redevelopment Property Tax Trust Fund N.nFRPTTF RPTTF Contract/Agreement Contract/Agreemem Total Outstanding Item N Project Name/Debt Obligation Obli ation T e Execution Date Termination Date Payee Descri bonlPro ect Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds Non-Admin Admin Six-Month Total $ 110,307,378 S 1049,346 $ 7,000 $ 25725 S 2,290457 $ 125.000 $ 3,486,528 2 2007 Tax Adlocation Bonds Series P Bands Issued On or 9A 8/2007 9/1/2034 US Bank Capital Pro ects Mer ed 1 20.864.262 N 12 309,601 E 309.61 3 2007 Taxable Tax Allocafion Bonds, Bonds Issued On or 9/162007 9112034 US Bank Property Acguis9ien Merged 1 3,266,082 N 58,647 S 58,647 Series B Before 12131/10 4 SERAF Lnans SERAFIERAF 41202010 6/30/2037 Palm Springs Housing Luans for FY 2009110 and 2010111 Merged 1 1.055,456 N E Successor SERAF Pa mems 5 Housing Deferral Repayment BERAFIERAF 61302037 Palm Springs Housing Pre-1986 Set Aside Deferral Merged 1 1,532,669 N $ - Successor 6 2004 Convention Center Bonds Revenue Bands 111112034 City at Palm Springs Agency Contribution to Convention Merged 1 27,300,D00 N $ _ d On or Before. Center Expansion Ad 1/10 7 Contract Services -Financial Fees 922/2010 6I3012079 Harrell 8 Company Merged 1 Bands Disclosure/Rating Merged 1 35,900 N 1,800 $ 1,800 Advisors Termed Services-Rebate Fees 61KL010 6/3012016 Wddan Financial Services Merged 1 Bands Rebate Consulting Merged 1 15,000 N $ Calculation Services 9 Bond Trustee Fees Fees 6/16/2004 11H 2O34 US Bank Merged 1 Bands Trustee Fees Merged 1 70,000 N S 11 Disposition and Development OPPJDDAtConstruct 12/51 9H 2O22 Endure Investments Financial Assistance If 0 Year) Merged 1 940,000 N - $ A reement on 12 Owner Participation Agreement Business Incentive 1/192000 61302018 1AP Motors Financial Assistance Merged 1 400,D00 N 1 D,225 189,775 $ 200,006 A reement$ 15 2007 Taxable Tax Allocation Bands. Bonds Issued On or 8/7612 7 9/1/2034 US Bank Property Acquisition Merged 2 9,848,208 N 1 D 180,869 S 160,679 Series C Before 12131/10 16 Agreement for Reimbursement Miscellaneous 121 2008 613012037 C' of Palm S tin s PSL-236 Lease Merged 2 4,263,889 N $ 17 20D4 Convention Center Bonds enue Bon of Palm 3pnngs Agency Centric to Convention 4eded N $ - d On or Before Center Expa 1/10 18 Contract Services -Financial Fees 9/2212010 8/302019 Harrell&Company Merged 2 Bands Disclosure/Rating 31,500 N 1,60D $ 1,600 Advisors 20 Bond Trustee Fees Fees 6/162004 1111/2034 US Bank Merged 2 Bonds Trustee Fees ad35,000 N $ 25 Contract Services-Audit Admin Cosh 4152010 6/302016 Lance Sell&Lun hart Audit Services Me er ed 2 312,000 N 2500 $ 2 500 26 Contract Services-Led Led 1/122005 81302016 WoodiuBS actin General Le el Counse Mer ed2 82,000 N 9,D00 $ 9000 27 Contract Services -Financial Admin Costs 7116200E 613 012 019 Harrell&Company ROPS Consulting Merged 2 92,000 N 4,000 $ 4,000 Advisors 33 Administrative Cost Allowance Admin Costs 7)1/2015 613012016 Ci of Palm S rin s Overheatl Cost Alloca[ionlSalanes tiler etl 2 4750,000 N 125 000 $ 125 000 34 Loan City/County Loans 5/6/1998 Palm Springs Ho s' Loan to Merged Project No./ 1 24,503 ,;, _ _' $ - On or Before 61Z]/11 Successor ' 35 Agreement for Reimbursement City/County Loans 10/16/1991 1111/2035 City of Palm Springs Project Costs Merged 1 413,600 N $On or Before 6/27/11 Wastewater Fund 36 Agreement for Reimbursement City/County Loans 10/16/1991 11/112035 City of Palm Springs Project Costs Merged 2 413,600 N $ On or Before 6/27/11 Wastewater Fund 37 Agreement for Reimbursement CitylCounty Loans 6/2211993 11/112035 City of Palm Springs Project Costs Merged 2 400,000 N S - On or Before W27/11 Wastewater Fund 38 City Loan and Interest CitylCounty Loans 6/15/2011 11/1/2035 City of Palm Springs Operating and Administrative Costs Merged 1 1,553.913 N S On or Before 6/27111 For FY 2011-12 39 City Loan and Interest CitylCounty Loans 6/15/2011 iagoll "`" "' 94W of Palm, G. ling and Administrative Cr & - Merged 2 103,250 N $On or Before 6/27/11 .2011-12 40 City Loan and Interest CirylCourl Loans 6115/2011 11/1ii City of Palm Springs Operating and Administrative Cosh J MergedlWo ged 2 2,011785 N $ On or Before 6/27/11 For FY 2010-11 Palm Springs Recognized Obligation Payment Schedule(ROPS 15-1613)-ROPS Detail January 1, 2016 through June 30, 2016 (Report Amounts in Whole Dollars) A B C D E F G H I J K L M I N 1 0 P Funding Source Non-Redevelopment Property Tax Trust Fund Non-RPTTF RPTTF Contract/Agreement ContractlAgreement Total Outstanding Item# Project Name I Debt obligation obligation Type Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds Non-Admin Admin Six-Month Total 41 Agreement for Reimbursement City/County Leans 12/6/20D6 itA2035 City of Palm Springs Prepay Portion of PSL 236 Merged 2 1,139,872 N $On or Before 627/11 Sustainabil' Fort 43 2007 Tax Allocation Bonds,Series A Reserves 9/18/2OD7 9/12034 US Bank Reserve for September 1 Debt Service Merged 1 309,613 N 309,613 S 309.613 44 2007 Taxable Tax Allocation Bonds, Reserves 9/1 B/2007 9112034 US Bank Reserve for September 1 Debt Service Merged 1 58.647 N 58,647 S 58,647 Series B 46 2007 Taxable Tax Allocation Bonds, Reserves 9/18/2007 9/12034 US Bank Reserve for September i Debt Service Merged 2 340,879 N 340.879 S 340,879 Series C 48 Property Tax -Cork&Bottle Property 7112013 W302019 County of Riverside Property Taxes on Agency Held Land Merged 1 17.000 N 2,000 $ 2.006 Property Maintenance Pending PMP-Current Instalment 49 Property Tax -Cork&settle Reserves 711/2015 6/30/2016 County of Riverside Reserve for Next Installment of Merged 1 N $ - Pro a Prop"Tax on Item 48 50 Property Tax -PSL 236 Property Property 711/2013 6/30/2037 County of Riverside Property Taxes on Property Under Merged 2 280,000 N 5,000 $ 5,000 Maintenance PSL 236 Lease-Current Installmem 51 Property Tax -PSL 236 Property Reserves 711/2015 6/30/2016 County of Riverside Reserve for Next Instalment of Merged 2 N $ - Property Tax on Item 50 52 Plaza Theatre-Insurance Property 711/2015 6/302016 City of Palm Springs Insurance on Agency Held Property Merged 1 19.000 N 6,000 $ 6,000 Maintenance Pendinif PMP 53 Plaza Theatre-Maintenance Property 711/2015 613MO16 City of Palm Springs Maintenance Costs on Agency Held Merged 1 4.000 N 3,500 $ 3,500 Maintenance Property Pending PMP 56 Plaza Theatre-Utillfies Property A72015 6/302016 Desert Water Utilities for Agency Held Property Merged 1 5,000 N 1,000 S 1,000 Maintenance Pending PMP 57 Plaza Investment Lease Property 7130/2DD3 5/31/2018 Plaza Investments Lease of property adjacent to Plaza Merged 1 24.400 N 4,800 $ 4,800 Maintenance Theatre used for access 62 2014 Subordinate Tax Allocation Refunding Bonds 8/19/2014 91IJ2034 US Bank Refinancing of 2001 and 20D4 Bonds Mergedl l Merged 2 20,670,800 N 339,200 $ 339,205 Bonds Issued After 627/12 63Contract Services -Financial Fees 922/2010 6/302019 Harrell&Company 2014 Bonds Disclosure/Rating Mergedll Merged 2 31,500 N 1,600 $ 1,600 Advisors 64 Contract Services-Rebate Fees 6142010 6/30/2016 Wilder Financial Services 2014 Bands Rebate Consulting Mergedll Merged 2 14,250 N 4.250 S 4.250 Calculation I Services 65 Bond Trustee Fees Fees 8119/2014 9112034 US Bank 2014 Bands Trustee Fees Mer edl l Merged 2 60,000 N $ 66 2014 Subordinate Tax Allocation Reserves 811912014 9112034 US Bank Reserve for September 1 Debt Service Mergedll Merged 2 47D.000 N 1,324 468,676 $ 470,000 Bonds 69 Capital Projects Improvemenbintrastr 711/21)15 6131Y2034 To be determined Remaining 2007 Series C Bond i,047,DOD N 1,047,000 $ 1,D47,000 uclure Proceeds NNW: L 70 N $ 71 N $ 72 N $ 73 N $ 741N $ 75 N $ 76 N $ 77 N $ 78 N $ 79 N $ 80 N $ 81 N $ 82 N $ 83 N $ Palm Springs Recognized Obligation Payment Schedule(ROPS 15-168)-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,see INSERT URL LINK TO CASH BALANCE TIPS SHEET A B C D E I 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, Nan-Admin or before Bonds Issued on balances reserve for future Grants, and Cash Balance Information by ROPS Period 12/31/10 or after 01101/11 retained period(s) Interest,Elc- Admin Comments ROPS 14.15B Actuals(01101/15-06/30/15) 1 Beginning Available Cash Balance(Actual 01101115) 1,040,127 1,196 - 445 41,215 87,750 2 Revenue/income(Actual 06/30115) D2 and B3-Transfer minor balances of$121 RPTTF amounts should tie to the ROPS 14-15B distribution from the from refunded bonds to refunding bonds trust County Auditor-Controller during January 2015 accounts;Col G does not include 4lh Otr Interest 2,880 128 1,510,977 2,382,001 Allocafion/to be provided when complete 3 Expenditures for ROPS 14.16B Enforceable Obligations(Actual 06130115) RPTTF amounts, H3 plus H4 should equal total reported actual expenditures in the Report of PPA,Columns L and O 121 27,017 1,247,278 4 Retention of Available Cash Balance(Actual 06130115) RPTTF amount retained should only include the amounts distributed as reserve for future periods) 1,042886 t 324 1499450 1,126,637 5 ROPS 14.15E RPTTF Prior Period Adjustment RPTTF amount should tie to the self-reported ROPS 14-15B PPA in the No entry regwred Report of PPA,Column S 65.5m 6 Ending Actual Available Cash Balance All G-will increase with final 4M Otr Interest C to G=(1 +2-3-4),H=(1+2-3-4-5) $ - $ - $ - $ 445 E 25,725 $ 30,341 .411ocalion when complete ROPS 15.16A Estimate(07101116.12131116) 7 Beginning Available Cash Balance(Actual 07101115) (C,D,16,=4+6,F=H4+F4+F6,and H=5+6) $ 1,042,886 $ 1,324 $ - $ 1,127,077 $ 1,525,176 $ 96,841 8 Revenue/Income(Estimate 12131115) RPTTF amounts should tie to the POPS 14-15B distribution from the County Auditor-Controller during June 2D15 836,196 9 Expenditures for ROPS 14-15B Enforceable Obligations(Estimate 12131/15) '77 r;7; 1,499,450 866,537 10 Retention of Available Cash Balance(Estimate'I2/31115) Col G-Retain$25,725 to apply in Col M ROPS RPTTF amount retained should only include the amounts distributed as 15-16B;Col G-will increase with final 4th Otr reserve for future penod(s) 1 042.886 L324 25,725 Interest Allocation when complete 11 Ending Estimated Available Cash Balance(7+8-9-10) $ - $ - $ - $ $ - $ 66,600 III Palm Springs Recognized Obligation Payment Schedule(ROPS 15.16B)•Report of Prior Period Adjustments Reported for the ROPS 14-15B(January 1,2015 through June 30,2015)Period Pursuant to Health and Safety Code(HSC)section 34186(a) (Report Amounts in Whole Dollars) ROPS W58 Successor Agency(SA)Self reported Prior Period Adjustments(PPA):Pursuant to HSC Section 34186(a),SAs are required to report the differences between their actual available funding and their actual expenditures for the ROPS 14-15B(January through June 2015)period, The amount of Redevelopment Properly Tax Trust Fund(RPTTF)approved for the ROPS 15-16B(January through June 2016)period will be offset by the SA's self-reported ROPS 14-15B prior period adjustment.HSC Section 34186(a)also specifies that the prior period adjustments self+epoded by SAs are subject to audit by the county auditor-controller(CAC)and the State Controller. A B C D E F G H I J K L M N O P O R 3 T Non.RPTTF Expenditures RPTTF Expenditures Net SA NonAdmin and Admit PPA (Amount used to Offset ROPS 15.168 Bond Proceeds Reserve Balance other Funds NonAdmin Admin Requested RPTTF) Avallade Available Difference RPTTF RPTTF of total actual (ROPS 14-15B Difference (ROPS 14-1513 exceedstood distributed aaS other Net Lesser of Of K lS less than L, distributed a all other Net Leaser of authorized,the Project No. a iiilaae es of A#M.mitidl the dlffirem cis a vafable as of AulhodzedI total difference is Net Difference Item# Debt obligation Auihotlzed Actual Autharked Actual Authadzed Actual Authmlaed 0111/15) Available Actual aerol I Authadzed 0111115) Available Actual zero) IMr RI SA comments E - $ - $ Sam b - $ 34,122 $ 27017 $ 2.314.410 $ 2,314,410 $ 2,314,410 $ 2248.910 $ 65,5oo $ 125000 $ 125,000 $ 125,0W b 125000 S - S 65.500 1 2004Taxalboation - $ $ $ 2 2001 TaxAlop ian 309,613 309.613 S 309,613 309.613 $ $ 3 N01Taxable Tax - 58.64T 58.647 S 58647 58,647 $ $ A laration Banda, series 8 4 SERAF Leans - s s $ 5 Pinions Defend - - $ 3 - $Repayment 6 2004 Convention - Center Bonds 1 contract Services- - - 1 8N 1 man $ 1 W] 1703 S in] S 100 Financial 8 c.m act SeMcea- $ $ f Rebate Calcd.t,.n 9 Bond Trustee Fees $ $ $ it Disposilianend - - - $ $ $ Development Agreement 12 Ovmer Participation 12,172 12,172 187828 187,828 $ 187,828 158.958 $ 28.860 $ 28860 preernert 13 Pacific Hospitality - - - - $ $ - $ - me mem 14 2oo4 Tax alocdmn - - - s $ - $ Refunding Gonda, series 8 15 2007Taxable Tax - - 185.211 185.211 $ 185211 185,211 $ - $ - Nlocation Bonds, Series L 16 Agreement for - - - - - $ - S $ Romburcement n 2to4 Conventon - - - - $ - $ - $ center comp 18 Contract Services- - 1,800 1.800 $ 1800 1SP0 $ 300 $ 300 Financial 19 contract Services_ _ _ _ _ . g _ g E Rebate Calculation 20 Band Trtslee Fees - b $ $ 21 2001 Housing Tax - - - - - $ - g - $ Nlocalmr,So.. 22 Contrad Service. Financial 23 Contract Services- - - - - $ b $ Rebate Calculation 24 Band Truslee Fees - $ $ $ 25 C.macl Services- - - 90n0 2331 - - $ - $ $ Autld 26 C.MmelServices- - 9,000 9coo - - $ - $ - E Le al 27 C.mrad Services- - - 4000 3514 $ $ $ - mcuaes aP or$1 p e3 at June 30 Financial Palm Springs Recognized Obligation Payment Schedule(ROPS 15-1613)-Report of Pnor Period Adjustments Reported for the POPS 14-15B(January 1,2015 through June 30,2015)Period Pursuant to Health and Safety Code(HSC)section 34186(a) (Report Amounts in Whole Dollars) ROPE 14-15B Successor Agency ISA)Self-reported Prior Period Adjustments(PPA):Pursuant to HSC Section 34186(a),SAs are required to report the differences between their actual available funding and their actual expenditures for the ROPS 141513(January through June 2015)period, The amount of Redevelopment Property Tax Trust Fund(RPTTF)approved for the ROPS 15-16B(January through June 2016)period will be offset by the SA's self-reported ROPS 141513 prior period adjustment.HSC Section 34186(a)also specifies that the prior period adjustments self-reported by SAs are subject to audit by the county auditor-controller(CAC)and the State Controller. A B C D e F G H I J K L M N 0 P 0 R 3 T Non-RPTTF Expenditures RPTTF Expenditures Net SA Non-Admin and Admin PPA (Amount Used to Offset ROPS 15-16B Bond Proceeds Reserve Balance other Funds Non-Admin Added Requested RPTTF) Available Avellabfe Difference Ii RPTTF of total actual (ROPS 10.15E Difference (ROPS 1415E exceeds total distributed a all other Net Lesser of (if K IS less Man L, distrbuted+•all other Net Lesser of authorized,the PmjeR Name l aadiii as of Authinzedt Me dlderence is veilable as or AuttwdzedI tme dlihrence is Net olderend. hemp Debt ONigedon Authodzed Adval Autbdzed Acual Aulhodzed Acual Aulhorized a 0111115) Available Actual zero) Authorizetl a 01/11151 Available Added zero) IM4R) SA Comments $ - $ - E 5,ado E - E 34,1T2 E 27,017 E 2,314,410 $ 2,314.41D E 2,314,410 S 2248910 $ 65,50D $ 125,000 $ 12 ow E t25.000 E 125000 E - E 65,So0 32 Lease/Sublease - - 3 $ E Aeament a3 Administrative Coat - - - E - $ E Aloddence 34 Loan - s $ $ 35 Agreement for - - E - $ E Reimbursement 36 Agreemenllor - - E $ $ Reimbmsement 37 Agreemert4r - S - S S Reimbursement 38 City loan and - - - $ - 3 - E - Interest 39 Co,Loan and - - $ - 3 3 - Inflamed 40 Cify Loan and - - - E - Interest 41 Agreement for - - $ 3 3 Reimbursement 42 2004 Tax Alowtion - - $ S $ Refrrds,Boni Sense A 43 2DO7 Tax Alowtion - - 3M,613 309.613 $ 309.613 W9,613 $ E - Bonds,SeriesA 44 2007 TaxaNe Tax - 58,647 58.647 E 59647 58.64] $ E Allocation Bonds, Sends B 45 2004 Tax Allocation - - - $ 3 E Refunding Bonds, Series B 46 2007Taxable Tax - - 340.211 340.211 S 340.211 W,211 S E Alownod Banda Senea c 47 2C01 Housing Tax - - - S - S $ Alowmn Bonds 48 Property Tax-Carl - 1,ago - $ - $ - a - S Boole Property 49 Property Tax-Cork - - 1a00 1400 $ Tarp E 140 E 140D &Boole Property 50 Property Tax-PSL - 4.400 - E - $ - E - 3fi Pro en 51 Property Tax-PSL - 4,400 4,400 E 4,400 E 4,400 E 4.40D 236 Pro ed 52 Plaza Theatre- - 12000 12 We $ 12,00D 6000 E 6,000 E 6,o0D Insurance 53 Plaza Theatre- 3,500 3.500 S 3.500 3.500 6 E - Maintenance Palm Springs Recognized Obligation Payment Schedule(ROPS 15-16B)-Report of Prior Period Adjustments Reported for the ROPS 14-15B(January 1,2015 through June 30,2015)Period Pursuant to Health and Safety Code(HSC)section 34186(a) (Report Amounts in Whale Dollars) ROPS 14-156 Successor Agency(SA)Seff-reported Prior Period Adjustments(PPA):Pursuantto HSC Section 34186(a),SAs are required to report the differences between their actual available funding and their actual expenditures for the ROPS 14-158(January through June 2015)period, The amount of Redevelopment Property Tax Trust Fund(RPTTF)approved for the ROPS 1516E(January through June 2016)period will be offset by the SA's self-reported BOPS 14150 prior period adjustment.HSC Section 34186(a)also specifies that the prior period adjustments self-reported by SAs are subjeclto audit by the county auditor-controller(CAC)and the State Controller. A B L 0 E F G H I J K L M N 0 P O R S T Non-RPTTF Expenditures RPTTF Expenditures Net SA NonAdmin and Ad".PPA (Amount Used to Offset ROPS 1&1BB Send Proceeds It....B9ance Other Fund. N.Admin Admin R,uezted RPTSF( Ava lr de AVAllade Difference Ril RPTTF III Ideal actual (ROPS 14-15B Difference (BOPS 14-15B ezceeds Wad distributed t all other Net Leaser of (it K is less than L, distdhuted+0 other Net Lesser of Othodzad,the Project Name' zed .,table as of Aulluncedf the differen ace lz varade as of ANNONLedf toted difference is Net Difference It..P Debt Obllgatldn ANhodzetl Atlual Authori Actual Aulorizetl N AcWW AuMorized Ot11115) AvAlalte Actual zero) Authorized Ot11115) Availlable Actual zero) (M-R) SA Cemmenls $ S - $ 5,8M $ - E 34,172 $ 27017 $ 2,314,410 $ 2.314410 $ 2,314410 E 2,248.910 $ 6515M b 125.000 $ 125,000 E 125,000 $ 125,000 $ $ 65,50D 54 Plaza Theatre- - - - - S $ $ Cons Wny lot Renovation 56 Plaza Theatre- - 20M 2000 S 2.000 660 s 134o § 1,340 Indudea AlP paid Jdy for S 137 Utilities 57 Plaza l nvaalment - _ 4.8M 4800 3 4800 4.800 E E Lease 58 Cash flow Loan - - $ $ $ RPTTF W lhhddin 59 Cash flow Leave - - - S $ $ Roza Theatre so Lash flow Loan for _ _ _ t $ - $ - PMP Completion 61 Reimbursade Costs - - - $ $ - $ - 62 M14 Subordinate _ 390.299 39U279 S 390,M 390279 $ - $Tax Allocation Bond. 63 Contract Services- - 1 500 1 $ 1500 1 40o $ too $ 10D Finance! 64 Contranservices_ _ _ _ _ $ $ $ _ Rebate Ca)cdalion 65 Bond Truatee Fees § $ $ 66 2014Subordinate - - 418.161 418.161 S 418161 418,161 $ - $ - TaxAllooahon Band. 67 LMIHF DDR - - - - E $ $ Cver a enl W Advance from the - 23.000 23 JOB f 23,000 $ MI 000 $ 23,0D0 City for Cork a Bottle Building Elect-Rave f $ $ s a $ E E $ $ I$ $ s $ $ s s E a $ $ s $ $ $ E $ S $ b f E $ 5 S $ S E E E $ $ S $ $ S $ $ S S $ S E 1 i $ E EI $ Palm Springs Recognized Obligation Payment Schedule (ROPS 15-16B) - Notes January 1 , 2016 through June 30, 2016 Item# Notes/Comments 64 Includes final rebate calculation fees for the bonds refinanced with 2014 Bond proceeds 69 Bond Proceeds Expenditure Agreement submitted for approval, includes estimated interest earnings through Jan 1, 2016