HomeMy WebLinkAbout1/25/2016 - STAFF REPORTS - 3.A. OVERSIGHT BOARD
FOR THE SUCCESSOR AGENCY TO THE
PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY
BOARD REPORT
MEETING DATE: January 25, 2016 NEW BUSINESS
TITLE: APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE
(ROPS 16-17A and ROPS 16-17B) AND AN ADMINISTRATIVE BUDGET
FOR THE PERIOD OF JANUARY 1, 2016 THROUGH JUNE 30, 2016,
PURSUANT TO SECTION 34169(g)(1) OF CALIFORNIA HEALTH &
SAFETY CODE
INITIATED: LAURI AYLAIAN, DIRECTOR OF COMMUNITY AND 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 AN ADMINISTRATIVE EXPENSE
BUDGET FOR THE PERIOD OF JULY 1, 2016 THROUGH JUNE 30, 2017,
PURSUANT TO THE CALIFORNIA HEALTH AND SAFETY CODE."
2. 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 16-17) FOR THE PERIOD OF
JULY 1, 2016 THROUGH JUNE 30, 2017, PURSUANT TO THE CALIFORNIA
HEALTH AND SAFETY CODE."
BACKGROUND AND ANALYSIS:
The Recognized Obligation Payment Schedule (ROPS) is the document used to
determine the amount of the previously-called tax increment (now RPTTF) the
Successor Agency will be allowed to retain on a six month basis to meet approved
obligations of the Successor Agency, as well as the amount of the Successor Agency's
allowable administrative budget. The ROPS must be adopted for each successive six-
month fiscal period.
Senate Bill 107, signed on September 22, 2015, provides that the ROPS for the two six-
month periods in each fiscal year must be approved by the Oversight Board and
submitted to the Department of Finance no later than February 1 each year,
commencing February 1, 2016 with respect to ROPS 16-17A and ROPS 16-17B.
Oversight Board Staff Report
January 25, 2016
Page 2—Approval of ROPS 16-17A and 16-17B
The Successor Agency approved ROPS 16-17 on January 13, 2016. After approval by
the Oversight Board, the ROPS will be submitted to the Department of Finance for
review and approval.
FISCAL IMPACT:
The amount of RPTTF and other funds on hand to meet the approved obligations of the
Successor Agency for Fiscal Year 2016-17 is approximately $5.54 million, including the
administrative cost allowance.
Commencing July 1, 2016, the administrative cost allowance shall be up to 3 percent of
the actual property tax distributed to the successor agency by the county auditor-
controller in the preceding fiscal year for payment of approved enforceable obligations,
reduced by the successor agency's administrative cost allowance and loan repayments
made to the city pursuant to Section 34191.4(b) during the preceding fiscal year, subject
to a minimum of $250,000, unless such amount is reduced by the Oversight Board or by
agreement between the successor agency and the State Department of Finance. For
Fiscal Year 2016-17, this limit is calculated as follows:
Tax Remitted in 15-16 to Pay Enforceable Obligations $3,176,153
Less 15-16 Administrative Costs ( 250,000)
Less 34191.4(b) Loan Payments ( 0)
$2,926,153
X 3%
$ 87,785
Minimum $ 250,000
The allowable administrative budget for the Fiscal Year of $250,000 is comprised of
salary and benefit costs for Successor Agency staff. The allowable amount does not
cover the total administrative costs incurred by the City to administer the winding down
of the former Redevelopment Agency's operations. Personnel charged to the
Successor Agency include Lauri Aylaian, Director of Community and Economic
Development, Diana Shay, Redevelopment Coordinator and Cathy Van Horn, Economic
Development Administrator.
RESOLUTION NO.
A RESOLUTION OF THE OVERSIGHT BOARD FOR THE
SUCCESSOR AGENCY TO THE PALM SPRINGS
COMMUNITY REDEVELOPMENT AGENCY, APPROVING
AN ADMINISTRATIVE EXPENSE BUDGET FOR THE
PERIOD OF JULY 1, 2016 THROUGH JUNE 30, 2017,
PURSUANT TO THE 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 was 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)
to Division 24 of the California Health and Safety Code ("Health and Safety Code");
and
WHEREAS, Health & Safety Code Section 34177(I) requires the Successor
Agency to prepare a Recognized Obligation Payment Schedule (ROPS) listing the
enforceable obligations of the former Redevelopment Agency, including administrative
expenses; and
WHEREAS, Health & Safety Code Section 34171(b)(3) states that commencing
July 1, 2016, the administrative cost allowance shall be up to 3 percent of the actual
property tax distributed to the successor agency by the county auditor-controller in the
preceding fiscal year for payment of approved enforceable obligations, reduced by the
successor agency's administrative cost allowance and loan repayments made to the city
pursuant to Section 34191.4(b) during the preceding fiscal year, subject to a minimum
of $250,000, unless such amount is reduced by the Oversight Board or by agreement
between the successor agency and the State Department of Finance ("Department of
Finance");
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.
Resolution No. _
Page 2
SECTION 2. The Administrative Budget of $250,000 for the Successor Agency
for the period of July 1, 2016 through June 30, 2017, attached to this Resolution as
Exhibit A, is hereby approved.
SECTION 3. The Clerk/Secretary or designee is authorized to take all
actions necessary to implement this Resolution, including without limitation, providing
notice of adoption of this Resolution to the 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 25th DAY OF
JANUARY, 2016.
LISA HOWELL
OVERSIGHT BOARD CHAIRMAN
ATTEST:
JAMES THOMPSON, CLERK/SECRETARY
Resolution No. _
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. _was adopted by the Oversight Board at a Special Meeting
held on the 25th day of January, 2016, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
JAMES THOMPSON
OVERSIGHT CLERK/SECRETARY
City of Palm Springs, California
EXHIBITA
ADMINISTRATIVE BUDGET
40000 Salaries $175,896
41450 Telecommunication 258
41600 PERS Contribution 47,418
41700 Medicare Tax 2,551
41900 Fringe Benefits 23,619
41930 RHS Health Benefit 258
Total $250.000
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 16-17) FOR THE PERIOD OF JULY 1, 2016
THROUGH JUNE 30, 2017, PURSUANT TO THE
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 was 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)
to Division 24 of the California Health and Safety Code ("Health and Safety Code");
and
WHEREAS, Health & Safety Code Section 34177(I) requires the Successor
Agency to prepare a Recognized Obligation Payment Schedule (ROPS) listing the
enforceable obligations of the former Redevelopment Agency, including administrative
expenses; and
WHEREAS, Section 34177(I) 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 16-17 A
and B) for the period of July 1, 2016 through June 30, 2017, attached to this Resolution
as Exhibit A, is hereby approved.
Resolution No. _
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 25th DAY OF
JANUARY, 2016.
LISA HOWELL
OVERSIGHT BOARD CHAIRMAN
ATTEST:
JAMES THOMPSON, CLERK/SECRETARY
Resolution No. _
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. _was adopted by the Oversight Board at a Special Meeting
held on the 25t" day of January, 2016, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
JAMES THOMPSON
OVERSIGHT CLERK/SECRETARY
City of Palm Springs, California
EXHIBIT A
ROPS 16-17
Summary Page
16-17A Period
16-17B Period
Cash Reconciliation
Recognized Obligation Payment Schedule (ROPS 16-17) - Summary
Filed for the July 1 , 2016 through June 30, 2017 Period
Successor Agency: Palm Springs
County: Riverside
ROPS 16-17
Current Period Requested Funding for Enforceable Obligations (ROPS Detail) 16-17A Total 16-17B Total Total
Enforceable Obligations Funded with Non-Redevelopment Property Tax Trust Fund (RPTTF) Funding
A Sources (B+C+D): $ 23,111 $ $ 23,111
B Bond Proceeds Funding - - -
C Reserve Balance Funding - - -
D Other Funding 23,111 - 23,111
E Enforceable Obligations Funded with RPTTF Funding (F+G): $ 3,046,459 $ 2,470,074 $ 5,516,533
F Non-Administrative Costs 2,921,459 2,345,074 5,266,533
G Administrative Costs 125,000 125,000 250,000
H Current Period Enforceable Obligations (A+E): $ 3,069,570 $ 2,470,074 $ 5,539,644
Certification of Oversight Board Chairman:
Pursuant to Section 34177 (o) of the Health and Safety code, I
hereby certify that the above is a true and accurate Recognized Name Title
Obligation Payment Schedule for the above named successor
agency. /s/
Signature Date
Palm Springs Recognized Obligation Payment Schedule(ROPS 16-17)-POPS Detail
July 1,2016 through June 30,2017
(Report Amounts in Whole Dollars
A B C D E F G H I J K L M N 0 P 0
16-17A
Non-Redevelopment Property Tax Trust Fund
(NoroRPTTF) RPTTF
ComectiAgreement Coraracl/Agreement Total Outstanding 1617A
hem# Project Name/DeM Obligation Obligation Type Fxecuton Date Termination Dale Payee Description/Prolect5cops Project Area Debt or Obligation Period ROPS 1617 Total Bond Proceetiv I Reserve Botanice Other Funds Non-Admin Admin Total
$ 107 971 294 $ 5539 6I4 $ - $ - $ 23111 $ 2,921459 $ 125,000 $ 3 069,570
2007 Tax Allocation Bonds Series Bontls Issued On or Before 9/182D07 91 US Bank C.cital Pro cis Merced 11 20204650 N
2D07 Taxable Tax Allocation Bonds, Bonds Issued On or Before 9/162007 9112D34 US Bank Property Acquisition Merged 1 3,149A36 N $ $ -
SenseB 12/31/10
SERAF Loans SERAF/ERAF 4202010 61302037 Palm Spnngs Housing Loans for FY 20N110 and 2010/11 Merged 1 1 D55g5 N $ 1,066,457 1,055,45 $ 1,055,457
Successor SERAF 86 Pa manta
5 Housing Deferral Repayment LMIHF Loans 1/1/i996 7 Palm Springs Housing Pre-19 Set Asi 1
Successor
Caner Bonds Bond arrant8 City of Palm Springs Agency Contribution to Convention1
r Center Extxanwon
Contract Services-Financial Fees 9222010 6r302019 Harrell B Company Merged 1 Bonds Disdosure lRaling Verged M20 N $ 1,700 E
Advisors
Contract Services-Rebate Fees 6/42010 r51302017 NMldon Financial Services Merged 1 Bonds Rebate Consulting Merged 1 15p0 N $ 2,5o0 2.50 $ 2.500
Calculabon Services
Bond Trustee Fees Fees 6/162004 11/12033 IDS Bank Merged l Bonds Trustee Fee. Merged 1 7000 N $ 37DO 37 S 3700
11 Disposruan and Development Business Incentive 12/52005 9112022 Endure Investments Financial Assistance(10 Year) Merged 840 ON N $ 140,000 140.00 $ 140,000
Agreement Agreements
120vmer Particpation Agreement Business Incentive 1/192000 6/302018 MIPMMors Finarcid Assistance Merged 200,DO N $ 200,000 $
Agreements
1520W Taxable Tax Allocation Bonds, Bonds Issued On or Before 9/1820W 9/12034 US Bank Property Acquisition Merged 9,461 BD N $ 176,4D7 $
Sense 12/31I10
16Agreement for Reimbursement Miscellaneous 112,6MM r3130R037 Ci of Palms rim PSL-236 Lease Merged 2 426388 N $ 147470 14747 $ 147470
17 DOW Convention Center Bonds Bond Reimbursement 6WO07 of Palm Springs Agency Contributed to Convention '
nwprt
18 Contract Services-Financial Fees 9222010 r31902019 Harrell&Company Mergetl2 Bonds Disclosure IRaOng Merged 2 30,00 N $ 1500 $
Advisors
20 Bond Trustee Fees Fees 6/1620W 11/12034 US Bank Merged 2 Bonds Trustee Fees Merged 2 3500 N $ 1.900 19 $ 1900
25 Contract Services-Audit Admin Cows 4/5201D 6/30)2017 Lance Sall&Lun hard Audit Services Mer edll Merced 2 162 DO N $ 6.000 6,0 $ 6.000
28 Contract Services-Le Marvin Costs 1/122005 680/2017 Woodruff Spraclin General Legal Counsel Mer will Merged 2 72.D0 N S 9.000 9,000 $ 9,000
27 Contract Services-Financial Admin Casts 7/1820DB 6/30/2019 Harrell&Company ROPS Consulting Mergedtl Merged 2 144,00 N $ 4,000 4 00 $ 4,D00
Advisors
33Adm mistabi Cost Nlovmnce Pdram Costs 7112016 MM017 City of Palms rims Warhead Coat Allocation/Saltines Mer edi/Mer ed2 4.625.000 N 5 250000 125000$ 125,000
34 Loan LMIHF Loans Palm Springs Housing Loan to Merged Project W.1 Merged 24.503 N
Successor
35 Agreement for Reimbursement CdylCourry Loan(Prior 10/16/1991 11/172035 City of Palm Springs Project Costs Merged 1 413500 N
0628111.Other Wastewater Fund
36 Agreement for Reimbursement CRy/County Loan(Prior 1011611991 11/12035 City of Palm Springs Project Coate Merged 2 413,50D N
O6R&111.Other Yyesteveater Fund l
37 Agreement for Reimbursement City/Bounty Loan(Prior 6QB1993 11/12035 City of Palm Springs Project Costs Merged 2 400,000 N
WWII),Other Wastewater Fund i
38 City Loan and Interest Dty)County Loan(Prior 6/152011 11/12035 City of Palm Springs Operating and Administrative Costa Merged 1 1,553.913 N 1,
061281i1 Other Far FY 2011.12
39 City Loan and Interest Dty/County Loan(Prior 6/152011 1 V12035 City of Palm Sp ings Operating andAMtinisUative Casts Merged 2 103,250 N
1)628111)'Other "
40 cdy Loan and Interest City/County Loan(Prior 6/15R011 1111=35 City of Palm Springs Operating and Administrative Casts MergedlMterged 2 2,01178E N $ S
06128f11) Other For FY 2010-11
41 Agreement for Rwmbursement CitylCounty can(Prior 12/52006 11/1/7035 City of Palm Springs Prepay Paden of PSL 236 Merged i,139,87 N $ - S
D628/11).Other Susteinabii Fund
43 M07 Tax Allocation Bonds,Series Reserves 9/1820W 9112034 US Bank Reserve for September 1 Debt Merged 1 85g,61 N $ 659,613 S -
A Service
Z 07 Taxable Tax Allocation Bonds, Reserves 9/182007 W12034 US Bank Reserve for September l Bear Merged 118.&1 N $ 118,647 S -
Series B Service
W07 Taxable Tax Allocation Bonds, Reserves 9/iS20W W12034 US Bank Reserve for September l Debt Merged W,40 N $ 346,407 S -
Series C Service
Palm Springs Recognized Obligation Payment Schedule(ROPS i6.17)-ROPS Detail
July 1,2016 through June 30,2017
(Report Amounts in Whole Dollars
A B D D E F G H I J K L M N 0 P 0
16-17A
Non,Retl dopment Property Tax Trust Fund
(NOrFRPTTF) RPTTF
CorNacdAgreement CiontradfApeemen Total Oulstandng 1&17A
Item# Project NamNDebt Obligation Obligation Type aecuron Date Termination Data Payee Descipbonforoject Scone Project Area Debt or Obligation Rebred RODS 15-17 Total Bond Proceeds Reserve Balance Other Funds NonAdrein Admin Total
48 Property Tax-Cork B Bottle Property Maintenance 7/12013 6Id02019 County of Riverside Properly Tales on Agency Held Land Merged 15,130 N $ 4,000 2, $ 2OW
Property Pentin PMP-Curren l nstalmenl
49 Property T.-Cork&Bode Reserves 7112016 (iMn[117 County of Riversde Reservefor Next lmlallmentof Merged y $ $ -
Property, Poparry Tax on Item 48
50 Property Tax-PSL 236 Property Property Maintenance 711M13 6`302037 County of Rivemlde Properly Taxes on Property Under Merged Z75 000 N $ 11,000 5,M S SON
PSL 236 Lease-Current Installment
51 ProWrty Tax-PSL 236 Property Reserves 7/1201B WM017 County of Riverside Reserve for,Ne#Instalment of Merged Y $ $
Proway,Tax on Item 50
52 Raza Theatre-Insurance Property Maintenance 7/12016 6M2017 City of Palm Springs Insurance on Agerry Heltl Property Merged Y $ $
Perchng PMP
53 Raza Theatre-Maintenance Property Maintenance 7/l/2018 6/302017 City of Palm Springs Maintenance Costs on Agency Held Merged y $ - $
Property Pending PMP
56 Wits. Property Maintenance 7/1/2016 6M=17 Desert Water Will for Agency Held Property Merged 1 2,00 Y $ 2,OW 1.00 $ 1.000
Printing PMP
57%aza l nvestment Lease Property Maintenance 7/302003 5/312018 Plazalnveetmentii Lease of property,adjacent to Raza Merged 19,130 N $ 9,7D0 4.111 6B $ 4,800
Theatre used for access
622014 Subordinate Tu Placation Refunding Bonds Issued 8/192014 9/12034 US Bank Refinandng of 2001 and 2004 Bonds Mergedl/Merged 2 20,W9,l1X N S 1,1211,600 809,20 $ B09.200
Bonds Met 6)27/12
63Contrad Services-Financial Fees 9=010 6ld02019 Hamal&Company 21)14 Bonds Disclosure RiaBng Mergedl/Merged 2 WAI N $ 1,SW $
A isors
640ontact Services-Rebate Fees 6/42010 W02016 MIdan Financial Samoes 2014 Bonds Rebate Consulting Mergedi/Merged 2 15,00 N $ s
Ca Malron Services
65 Bond Trustee Fees Fees 8/192014 9/12034 US Bank 2014 Bonds Trustee Fees Will Merged 2 6000 N $ 3000 3,000 s 3WO
652014 Subordinate TU Monson Reserves WlWO14 9/12034 US Bank Reserve for September l Data Mergedl/Merged 2 492,50 N $ 492,5W $
Bonds Service
69 Capdai Projects Bond Funded Projed—Pre- 7/12015 M 20M To be determined Remaining 2007 Sense C Bond Merged 2 Y $ $
2011 Proceeds
70 LRPMP Properties Property Maintenance 7/12018 8/302020 To be determined Maintenance Costs on Agency Held MergsdVMerged2 25,00 N $ 7,500 50 $ S,WO
Property Printing Deposition
71 LRPMP Properties Property Dispositions 711=16 6M4 020 To be determined Costs for Dlspoebon of Agency Held Mer1dl/Merged2 25,W N $ 1SAO 5,0 $ 5,000
Property-Appraisals,Fencing,
Closing Costs etc
]2A&ance for the City for Cork B Property Maintenance 111=16 1/112017 City of Palm Springs 80 year did building has unsafe wiring Merged 23,00 N $ 10000 to 00 $ 1a,000
Bode Bulling Electric Revdrmg and needs repair before sale,it is
occupied by a tenant
3 N E S
74 N $ $
]5 N $ $
76 N $ S
77 N S S
]8 N $ $
]9 N $ $
W N E $
81 N $ $
82 N $ s
83 N $ 3
84 N E S
851 N S $
86 N $
87 N E
ie N IE
WNJ E
29 N S
911 1 1 1 1 N 1 1 $
Palm Springs Recognized Obligation Payment Schedule(ROPS 16-17)-ROPS Detail
July 1,2016 through June 30,2017
(Report Amounts in Whole Dollars)
A B C D E F G H I J N R S T U V W
16-178
Non-Redevelopment Property Tax Trust Fund
(Non-RPTTF) RPTTF
ContraceAgreement ContraddAgreement Total Outstanding 1617E
Item# Project Namei Obligation Obligation Type Execution Dale Terminal Date Payee OesenptionnProject Scope Project Area Debt or Obligation Retired ROPS16-17Total Bond Proceeds Reserve Balance Other Funds Non-Admin Armin Total
S 107971294 $ 5539644 S - $ - $ - E 2345074 $ 125000 $ 24700]4
2007 Tax Allocation Bond,,Series Bards Issued On or Before Wl WO07 9112034 US Bank Capitol Projects Merged 1 202D4 650 N
2007 Taxable Tax Allocation Bonds, Bonds Issued On or Before 9/162007 9112034 US Bank Properly".at. Merged( 3,149,4 N $ $
Series 9 12/31M0
SERAF Loans SERARERAF 4202010 W o2037 Palm Songs Housing Loans for FV 2009110 and 2010111 Merged 105545 N $ 1.055457 $
Successor SERAF Payments
5 Houa 1986 Bet Me 1532,666 729,543
62004 Conversion' sMM Ban ncy Contnbutiontd ention Me 27,300,0
A dal raon IF N
Contract Services -Finsnciel Fees 9222010 51302 rg 019 Harrell Merged 1 Bonds Disd.suo/Ratmg Meedl 34,20 N 1.700 1]0 $ 1lC
Agraso
Contract Semces-Rebate Fees 6142010 WM017 NWIIdan Financial Services Merged 1 Bonda Rebate Commuting Merged 1 15,0 N $ 2.500 $
Oalcuation Services
Bond Trustee Fees Fees W1132004 11/1t2034 US Bank Merged 1 Bonds Trustee Fees Merged 1 700 N 3700 $
11 Disposition and Development Businesslncentive 12/5/2005 W12022 Endure Investments Financial Assistance(10 Year) Merged 1 B40,Oo W N $ 140, 0 $
Agreement A reemenb
1 Owner Participation Agreement Business Incentive 1/192000 W3W2018 MP Motors Financial Assistance Merged 20000 N S 400,000 200.00 S 200.00
Agreements
1 2007 Taxable Tax Allocation Bands. Bonds Issued On or Before W162007 Property US Bank Prope Acquisition Merged 2 9461,80 N $ 176,407 176.407 $ 176.40
Sen.C 12131110
16A reamed for Reimbursement Miscellaneous 12/62006 6I302037 Q of Palms rims PSL-236 Lease Me 2 42638 N $ 14].4]0 $
172004 Convention Center Bonds Bond Reimbursement 6/62007 11/12034 City of Palm Spirits Agency Combustion to Convention
18 Contract Serve. -Financial Fees 9222010 61302019 Harrell&Company Merged 2 Bords Disclosure lRatirg Merged 30.00 N $ 1,500 1,50 $ 1,50
Actin...
20 Bond Trustee Fees Fees 6`162004 11/12034 US Bank Merged 2 Bonds Trustee Fees Mered2 35 N 8 1800
25 Contract Semces-Audit Adnin Costs 4/52010 6/302017 Lance Soll B Lunhard Audi Services Meredi/Merged 2 162.00 N $ 6.OD0 It
26 Contract Services-Le Adman Costs 1/122005 6/302017 WoodruffSradin General Leal Counsel MergaiMerged 2 72. N $ 9000
27 Contract Services -Financial Adman Costs 7/182008 61301 Harrell&Company ROPS Consulting Mergedl/Merged 2 14400 N $ 4,000 $
Advisors
33 Admmx„rffirv,Cost All.,am . Adme Costs 71'2016 6/30/2017 City of Palm sprirqs Overhead COS.Allocauon/Sala... Meradl/Mer d2 4,62.`a(100 N $ '250000 1250C $ 1250
34 Loan LMIHF Loans SM11998 11/12035 Palm Spnngs Housing Loan to Merged Project No.1 Mer- 24,503 N
Successor
35Agreement for Reimbursement Cmm0gunly Loan(Run, 10116I1991 1111QO36 City of Palm Springs Project Costs Merged 413,500 N
062W 1).Other Wastewater Fund
36 Agreement for Reimbursement CiWounty Loan(Prior 1011611991 11I12035 City of Palm Spdnga Project Coats Merged 413,500 N
0628/111,Other Wastewater Fund
37 Agreement for Reimbursement CitylCognty Loan(Prior 622/1993 11/12035 City of Palm Springs Project Costa Merged2 400,000 N
0628111),Other Wastewater Fund
38 City Loan and Interest CiyvCounty Loan for., 6(152011 City of Palm Springs Operating and Administrative Costs Merged 1 1,553.913 N
062W11 Other For FY 2011-12
39 City Loan and Interest CitylCoumty Loan(Prior 6/152011 35 City of Palm springs Operating and Administrative Cosier Merged 103.250 _N
O6/2W11).Other P 11-12
40 City Loan and Interest Cry/CourN Loan(Prior Sri 52011 11/12035 City of Palm Springs Circular,and Administrative Costs MergedllMerg.d 2 2011 785 N It - $
0612811 p,Other For FY 2010-11
41 Agreement for Reimbursement CitylCoumty Loan(Prior 12162006 11112035 City of Palm Spnmgs Prepay Portion of PSL 236 Merged 1,139,87 N $ $
O62W11I.Other SustanualtalityFund
2007 Tax OSocadrn Bonds.Sneer Reserves SM82007 9112034 US Bank Reserve for September 1 Debt Merged 1 65981 N $ 659,613 659613 IS 659A1
A Service
442007 Trusts Tax Allocation Bonds. Reserves SP 82007 S/t2034 - US Bank Reserve for September l Debt Merged 118,64 N $ 118,647 11S647 $ 118.64
San"B Service
2007 Taxable Tax Allocation Bonds. Reserves SM 82007 V121g34 US Bank Reserve for September l Debt Merged 346,,aori N S 346,407 Us 07 $ 346,40
Sense C Service
Palm Springs Recognized Obligation Payment Schedules CROPS 16-17)-ROPS Detail
July 1,2016 through June 30,2017
(Report Amounts in Whole Dollars(
A B C D E F G H J K R S T U V W
16.17B
Non-Redevelopment Property Tax Trust Find
(Nor-RPT7F) RPTTF
ContraeVAgreement ContractfAgreement Total Outstanding 16176
Item# Project NemdDebt Obligation Obligation Type Fxecubon Date Termination Date Payee DncriptiarvPraject Scope Project Area Cain or Obligation Retired ROPS 16F17 Total Bond Proceeds Reserve Balance Other Funde Non-Admin AGmn Total
Property Tax-Cork B Bottle Property Maintenance 7/12013 WOM19 County of Riverside Property Taxes on Agency Held Land Merged 1 15, N $ 4,0D0 2,00 $ 2W
Property Pend PMP-Currentlnstallmerd
49 Property Tax-Cork&Bode Reserves 7/12016 6f302017 County of Rirerslds Reserve for Next Installment of Merged Y $ $
Pmprty Property Tax on It..48
50 Property Tax-PSL 236 Property Property Maintenance 7/12013 6/302037 County d Ri,anude Property Taxes on Property Under Merged 2 275.00 N $ 11,000 6,00 $ a
PSL 236 Lease-Current Installment
51 Property Tax -PSL 236 Property Reserves 7112016 6/302017 County d Riverside Reserve for Next Installment of Merged Y $ $
Pro Tax on Item 50
52 Raze Theatre-Insurance Property Mairsenence 7/12016 61302017 City of Palm Springs Insurance on Agency Held Properly Merged Y E E
Pendino PMP
53 Plaza Theatre-Maintenance Property Maintenance 7/12016 &M2017 City d Palm Springs Maintenance Costa on Agency Held Merged Y $ $
Property P.rdna PMP
56 Utilities Property Maintenance 7112O16 &302017 Desert Water Utilities for Agency Held Progeny Merged 1 2,00 Y $ 2.000 1,00 $ 1,00
Pending PMP
57 Phual nvestment Lease Property Maintenance 7=003 5/312018 Razelnveamenk Lease d Property adjacent to Raze Merged 1960 N $ 9,7D0 4,900 $ 4,N
Theatre usad for access
62 2014 Subordinate Tax Placation Refunding Bonds Issued 8/192014 &12D34 US Bank Refinancing d 2001 and 2004 Bands Mergetll/Merged 2 20,309,100 N $ 1,129,600 320,400 $ 320.40
Bonds After W7112
63Contract Services-Financial Fees 9222010 6/302019 Hangl&Company 2014 Bonds Dsdiowre Rating Mergetll Merged 30,00 N $ 1,500 1,50 $ 1.50
Advisors
64 contract semces-Rebate Fees 6/42010 61302016 W41dan Financial Services 2014 Bonds Rebate ConeUtng Mergetll/Merged 2 15,00 N $ E
Calculation Services
65 Bond Trustee Fees Fees &192014 9112034 US Bank 2014 Bonds Trustee Fees M.rded1l Merced 2 60.00 N $ 3,000 E
66 2014 Subordinate Tax Alocafion Reserves 8/192014 &12034 U$Bank Reserve for September l Debt Mergetll Merged l 492500 N $ 492,5W 492,5 $ 492,5
Bonds Service
59 Capital Projects Bond Fulled Project—Pr> 7/12015 61302034 To be determined Remaining 2007 Sense C Bond Merged Y $ $
2011 Proceeds
70 LRPMP Properties Property Maintenance 7/12016 61302020 To be determined Maintenance Cock on Agency Held Mergetll/Merged 2 25.00 N $ 7.500 2.50 $ 2,50
Fromm,Pendng Disposition
71 LRPMP Properties Properly Dlspositicne 7f12016 6`302020 To be determined Cask for Dspcsdon&Agency Held Mergedt/Merged 2 25.00 N $ 15,00(1 10.000 $ 10,00
Property-Appraisals,Fending,
Cloain Costs OF
7 AMa k&nce far the City for Cor Property Maintenance IA12016 111M17 City&Palm springs 80 year did building has unsafe miring Merged 23,00 N $ 10.000 $
Battle guiding Bechic Rev4nng and needs repair before sale;4 is
Accuped by a tenant
7 N $
7 N $ $
7 N E E
7 N $ $
7 N $ E
7 N E E
7 N 3 E
B N $ E
61 N $ $
8 N $ E
8 N $ $
84 N E $
8 N $ $
N $ E
67 N $ $
N $ $
8 N 3 $
N $ $
91 1 N 1$
Palm Springs Recognized Obligation Payment Schedule (ROPS 16-17) - 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 CASH BALANCE TIPS SHEET
A B C D E I F G H I
Fund Sources
Bond Proceeds Reserve Balance Other RPTTF
Prior ROPS Prior ROPS
period balances RPTTF
Bands issued Bonds issued and DDR RPTTF distributed as Rent, Non-Admin
on or before on or after balances reserve for future grants, and
Cash Balance Information by ROPS Period 12/31/10 01/01/11 retained period(s) interest. etc. Admin Comments
ROPS 15-16A Actuals (07/01/15- 12/31115)
1 Beginning Available Cash Balance (Actual 07/01/15)
1,042,886 1,324 1,127,077 1,525,175 95,841
2 RevenueNncome (Actual 12131/15)
RPTTF amounts should tie to the ROPS 15-16A distribution from the
County Auditor-Controller during June 2015 3,776 7 22,073 836,196
3 Expenditures for ROPS 15-16A Enforceable Obligations(Actual
12/31/15)
1,127,077 1 1.498,412 855,778
4 Retention of Available Cash Balance (Actual 12/31/15)
RPTTF amount retained should only include the amounts distributed as
reserve for future period(s)
7,000
5 ROPS 15-16A RPTTF Balances Remaining
No entry required
3,759
6 Ending Actual Available Cash Balance
C to G =(1 + 2-3-4), H = (1 +2-3-4-5) $ 1,046,662 $ 1,331 $ $ - $ 48,836 $ 65,500
ROPS 15.16B Estimate(01/01/16-06/30/16)
7 Beginning Available Cash Balance (Actual 01101/16)
(C, D, E, G= 4+6, F=H4+ F4+ F6, and H = 5 + 6) $ 1,046,662 $ 1,331 $ $ 7,000 $ 48,836 $ 69,259
8 Revenueflncome (Estimate 06/30116)
RPTTF amounts should tie to the ROPS 15-16B distribution from the
County AL!ditor-Controller during January 2016 2,339,957
9 Expenditures for ROPS 15-16B Enforceable Obligations(Estimate Reserves for September 1 debt service
06130/16) transferred to trustee in 15-16B shown as
1.331 25.725 2,405,457 expenditure, not as reserve per new instructions
10 Retention of Available Cash Balance (Estimate 06130/16)
RPTTF amount retained should only include the amounts distributed as
reserve for future period(s)
11 Ending Estimated Available Cash Balance(7+ 8 -9-10) $ $ - $ $ 7,000 $ 23,111 $ 3,759
Palm Springs Recognized Obligation Payment Schedule (ROPS 16-17) - Notes July 1 , 2016 through June 30, 2017
Item # Notes/Comments
70 Includes reimbursing City of Palm Springs for any maintenance or weed abatement costs in 15-16B
16-17A: Requested reserve for full September 1, 2016 payment in 15-16B which will be shown as an expenditure in 15-16B because transferred to trustee in 15-16B
2, 3 & 15 (new instructions), no expenditure for September 1 debt service shown from reserve in 16-17A
16-17A: Requested $468,676 reserve for September 1, 2016 payment in 15-16B which will be shown as an expenditure in 15-16B because transferred to trustee in
62 15-16B (new instructions); no expenditure for September 1 debt service shown from reserve in 16-17A