HomeMy WebLinkAbout1/29/2016 - STAFF REPORTS - 3.A. OVERSIGHT BOARD
FOR THE SUCCESSOR AGENCY TO THE
PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY
BOARD REPORT
MEETING DATE: January 29, 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 29, 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. 039
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. 039
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 29`h DAY OF
JANUARY, 2016.
LISA HOWELL
OVERSIGHT BOARD CHAIRMAN
ATTEST:
JAMES THOMPSON, CLERK/SECRETARY
Resolution No. 039
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. 039 was adopted by the Oversight Board at a Special
Meeting held on the 2Wh day of January, 2016, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
JAMES THOMPSON
OVERSIGHT CLERK/SECRETARY
City of Palm Springs, California
EXHIBIT A
ADMINISTRATIVE BUDGET
40000 Salaries $175,896
41450 Telecommunication 258
41600 PIERS Contribution 47,418
41700 Medicare Tax 2,551
41900 Fringe Benefits 23,619
41930 RHS Health Benefit 258
Total $250.000
RESOLUTION NO, 040
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(1) 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. 040
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 29'" DAY OF
JANUARY, 2016.
LISA HOWELL
OVERSIGHT BOARD CHAIRMAN
ATTEST:
JAMES THOMPSON, CLERK/SECRETARY
Resolution No. 040
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. 040 was adopted by the Oversight Board at a Special
Meeting held on the 29`h 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(RODS 16-17)-ROPS Detail
July 1,2016 through June 30,2017
(Report Amounts in Whole Dollars
A B C D E F G H 1 J K L M N O P R
16-17A
NofNiedevelapment Property Tax Trust Fund
(Non-RPTTF) RPTTF
ContracOAgreement ContraG/Agreement Total Outstanding 1617A
ItemA Project NamaDebt Odipaton Obligation Type Exapshon Date Termination Date Payee DescriptonlProject Scope Proledruea Debt or Obligation Retired ROPS1&17Total Bontl Proceetls Reserve Balance Other Funds Non-Admin Admin Total
S 107 971 294 S 5.539,r344 $ - $ - $ 23.111 $ 2921.459 S 125.000 S 3,069,570
2007 Tax ocaton Bonds.Series Bonds Issued On or Before S7tip 7 Si US Bank Capital Pierce Merged 1 2D2046 N s $ -
2007 Taxable Tax AllocationBonds, Bonds Issued On or Before SIla 0i 9/12034 USBank Property Acquantion Merged 3,14943 N S $
Series 12/31110
SERAF Loans SER4FIERAF 41TWO10 6I302037 Palm Springs Housing Loans for BY 2009110 and 2010111 Merged 1 1,055457 N $ 1 055A57 1 055467 S 1.055,45T !i
Succesaw SERSF Payments _
5 Housing Deferral Repayment IJAHF Loans 11111998 8202037 PalrbIlRe Housing Pre-0988 Set Aside Deferral Merged 1532669 N 729.543 729,543 729.543
Succesor
62004 Covention Censer Bonds Bond Reimbursement S/MN7 11/12034 City of Palm Springs Agency Contribution to Convention Merpedt 27,300,00D N
Agreements Center Expansion
Contract Services-Financial Fees 9222010 6f302019 Harrell S Company Merged 1 Bonds Dsdosure fRating Verged 1 34.20 N S 1,700 $
AcMsors
Contract Services-Rebate Fees 6/42o10 6 Or417 WIMan Financial SeMces Merged 1 Bonds Rebate Consulting Merged 1 15,00 N S 2,500 2.5 $ 2.500
Calculation Services
Bond Trustee Fen Fees 6116,1 11I12034 US Bank Meted l Bonds Trustee Fen Mefedl 70. N $ 3700 3.7 S 3700
11 Discussion and Development Businesslrkxrove 12f52005 9/12022 Endure lnveetrnenu Financial Assistance year) merged mom N $ 140.000 140,00 LI,
reement reement,
1 Owner PaNcipation Agreement Business Incentive 1/19200o 6,30R018 VIP Molars Financial Assistance Merged 200, N $ 200,000
A reement,
N20
20D7 Taxable Tax Allocxtan Bonds, Bonds Issued!On or Before 91182001 9112034 US Bank Property Acquisition Merged 2 9,461 80 N $ 176.407
Sorcac 1213vm
A reement for Reimbursement Miscellaneous 121620D6 61302037 of Palms tins PSL-236 Lease Merged2 4,263.581 N $ 147470 147A70 2004 Comuartion Carter Bonds Bondi reement 6/6oi 11HlN34 CRY of Pam Sprnge Agony Contribution to Canton Merged2 6,300,000 N
reement, Center Fix nsion
Contract Services-FinancA Fees 9,=010 613MO19 Harrell 8 Company Merged 2 Bonds Disclosure(Raring Merged 2 30.00 N S 1500Ad isors Bond Tusher,Fees Fees 61161 11/1f2034 USBank Mer ed 2 Bonds Trustee Fees Mer etl2 3500 N $ 1,900 19
Contract Services-Audit Ar min Costs 4r52010 6r302017 Lance Soil S Lan hard Audt Servlee, Mer i Mer 2 162.00 N $ 6000 Sao $ 6,000
Contract Services-Le al Admin Costs 11122005 6/302017 WoodmOS adin General Leal Counsel Mer ed11 Mer ed 2 72.DO N 5 9,000 9.0 $ 9,000
Contract Services-Financial Admin Costs 711EQ008 6r302019 Hamill S Company ROPS Comsultog Mergedll Merged 2 14400 N S 4,000 400 S 4.000
Advisors
33 Admimstrabve Cost Pllowance ALmin Costs 7112016 6r302017 C of Palms rims Overhead Cost Allocaton/Salanes Mer edtl Merged 2 4S25000 N $ 2b0.000 125000 5 125.000
34 Loan LMIHF Loans 5.6119ga 11/12035 Palm Spring.Housing Loan to Merged Bro)ed No.1 Merged( 24.503 N
Successor
35 Agreement for Reimbursement CnylCour4y Low(Prior IME11981 11fl2035 City of Paton Springs Projed Cosh Merged 413.500 N
OS28r11.Other Wastewater Fund
36 Agreement for Reimbursement CnylCounty Loan(Prmr 1N18r1991 11/12035 City of Palm Springs Project Costs Merged 413.500 N
061 Other Was bssa r Fund
37 Agreement rof Reimbursement MiCounty,Loan(Pnor 622119B3 11/12035 City of Palm Springs, Project Boer Merged 400000 N
0628/11.Other Wastewater Fund
38 City Loan and Interest City/County Loan(Prior 61152011 11I12035 City of Palm Springs Operating and Adninistra dive Casts Merged 1 1,553,913 N
0611.Carer For By 2011-12
39 Oily Loan and l interest atpCeunty Loan(Prior 6I152oll 1111/2035 CM d Palm Sponge Operating and AdnimstraEve Colts Merged 103,250 N
0628/11),Other For BY 2011.12
40 City Loan and Interest CitylCounty Loan(Prior 61152011 11112035 City of Palm Springs Operating and Administrative Costs McrgedllMerged 2 2,011,78 N $ S -
0626/11).Other iFor BY 2010.11
41 Agreement for Reimbursement City/County Loan lPrior 12/612006 1111ii City of Palm Springs Prepay Portion of PSL 236 Merged 1.139.8 N s - S -
062S111 Other Sustalnabdi Fund
43 2007 To Allocation Bonds,Series Resent. W182007 9112034 US Bank Receive for September l Ded Merged 659.61 q N S 659,613 $
A Semce
2007 Taxable To Allocation Bonds, Reserves 91182007 9/12034 US Bank Reserve for September l Debt Merged( 118,64 N $ 118647 $ -
Sen.B Service
2007 Taxable Tax Allocation Bonds, Reserves 9f18200] 9/12034 US Bank R.erve for September l ChipsMerged2 346.40 N $ 346.4D7 $ -
San.C Service
Palm Springs Recognized Obligation Payment Schedule(ROPS 16-17(-ROPS Detail
July 1,2016 through June 30,2017
(Report Amounts In Whole Dollars
A g C D E F G H 1 J H L M N 0 P 0
16-17A
Non-Redevelopment Property Tax Tint Fund
Non-RPTTF) RPTTF
ContracMAgreemenl COMract/Agreemmt Total Outstanding 16-17A
Item Prged Name/Debt OHigabon Odigabon Type Dxeddan Dek Termination Date Payne Descnpton,Projed Scope Proled Area Debt or Obligation Retired ROPS 16-17 Total Bond Proceeds Reserve Saanoe Other Funds Nor Admin Atlmin Total
AS Property Tax-Cork a Bale Property Mantmance 711/2013 af302m19 County of Raermde Property Taxes on Agency Held land Merged 15,0 N $ 4,000 2,000 S 2,000
pro Pendn PMP-Current Installment
49 Property Tax-Cork 6 Bala Reserves 7/12016 6/30/2017 County of Riverside Reservefer Ne#Installment of Merged Y $ $ -
Pro Property Tax on Rem 48
50 PropeM Tax-PSL 236 Property Property Mantenance VlaD13 (0302037 County of Riverside Property Taxes on Property Under Merged 275,000 N E 11.000 5.00 $ 5,000
PSL 236 Lease-Current Instalmen
51 Property Tax-PSL 236 Property Reserves 7112016 613o2017 County of Riverside Reserve for Next Installment of Merged Y $ It
Property Tax on Item M
52 Paza Theatre-Insurance Property Mantenance 7f12016 6902017 City of Palm Springs Insurance on Agenry Had Property Merged Y $ S
P,mairg PIMP
53 Plaza Theare-Maintenance Property Mantenance 7MM16 M12017 City of Pam Springs Mamenance Costs on Agency Had Merged 1 Y S - S
Property Penang PMP
M Ulities Property Maintenance 711MIS M02017 Desert Water Wines for Agency Had Property Merged z= Y S 2,000 1. E 1,p00
Pendrm PMP
57 RazalmcanerR Lease Properly Mantmence 7MO2003 5f312018 Plaza lnvestrcenb Leese of property adjacent to Plaza Merged 19, N $ 9.700 A.111 68 $ 4,800
Theebe used for access
62 2014 Subordinate Tax Allocation Refunding Bonds Issued 61182014 SM=34 US Bank Refinandng of 2001 and 2004 Bonds Mergetll/Merged 2 20,3DS.100 N $ 1,129,600 809,20 $ 809,200
Bonds Aftera27f12
63 Contract Services-Fanandal Fees 9222010 6R102019 Hamer 6 Co." 2014 Bonds Disdosure!Rating Mergedt/Merged 2 M,00 N $ 1,500 S
A&I"is
Contract Seances-Rebate Fees 6142010 6/302016 lMldan Flnand&Services 2014 Banda Reba@ Consdiing Mergedt/Merged 2 15,D0 N $ S
Calculation Services
M Bond Trudee Fees Fees 8/192014 W12o34 US Bank 2014 Bonds Trustee Fees Marged1lMer 2 60,00 N $ 3000 3 ON 3D00
662014 Subordinate Tax Allocation Reserves 8f192014 9/12034 USBmk Reserve for September l Dent Mergedl/Merged t 492,531 N $ 492,500 $ -
Bonds Service
69 Ca itil Projects Bond Funded Project—Pre- 7112015 &302034 To be determined Remaining 2007 Series C Bmtl Merged Y $ - $ -
2011 Proceeds
70 LRPMP Properties Property Maintenance 7/12016 6r102020 To be determined Maintenance Costs on Agency Held Mergedlf Merged 25, N $ 7.500 5,00C $ 5.000
Pro Pendrig Disposson
71 LRPMPProperties Properly Dispoatiam 711/2016 6502020 To be determined Casts for Dlspostion of Agenq Held Mergetll/Merged 2 25,00 N $ 15,000 5, $ 5,0D0
Property-Appaisas,Fending.
Cicaing Coati at
72 Advance for the Cary for Corks Property Mantenance 1112016 1112017 City of Pam Springs M year did building has unsafe wining Merged 23,00 N $ 10,000 10,00C $ 10,000
Bole Buldng Electric Ravenna and needs repair before sale;it is
occupied by a tenant
73 N I$ $
74 N $ $
75 N $ $
76 N S S
77 N $ S
78 N $ $
79 N $ S
80 N $ $
81 N $ S
82 N S S
83 N S $
84 N 5 $
N 5 $
N Is S
a N S S
N S 5
8 ry I S 5
N I S E
91 N S $
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 K R $ T7 U V W
16-17B
Non-Recevelopment Property Tax Tent Fund
(M.RPTTF) RMF
ContractiAgreament CDntrad/Agreemenl Total Outstandrg 1e.t]B
ItemC Project NemeirDebt Obligation Obligation Type Execution Data Termination Date Payee DesaipGorvPmject Scope Protect Area Deft or Obligation Retinal ROPS16-11Total Bond Proceeds Reserve Balance Other Funds Non-Adman Admin Total
E 107,971.2M $ 5539,644 $ - S - E - $ 2.345,074 $ 12500D S 2.470.074
2007Tax Allocation Bonds Series Bondslesued Onor Before Wl MD07 Grimm US Bank Coital Pro'eds Merged 1 20.204.650 N S
2D07 Taxade Tex Allocation Bonds. Bonds Issued On or Before 9/182007 wi2034 US Bank Property ACGuisleon Merged 3,1494W N $ - $
Series B 12/31/10
SERAF Loans SERAFIERAF 4202010 6130/2037 Pair Springs Housing Loans for FY 2009110 and 2010111 Merged 1 1,055457 N $ 1.055,457 E
Successor SERAF Pa,menta
5 Housing Deferral Repayment FIP.Laam 111fl996 Sn02037 Palm Springs Housing Pre-1986 Be Aside DIRW S32W9 N 729,543
Succa.am
6 2004 Crrrventirn Center Bonds -I 6512007 11/12034 City d Palm Springs Agency Contribution to Convention 27.300,000 N
CarrinuEsginnumcm
Contract Services-Financial Fees 9222o10 6/302o19 Hanou&Company Merged l Bonds Disclosure lRating Merged 3420 N $ 1,700 ']D $ 1,70
Adiieors
Contract Simpose Rebate Fees N42010 61302D17 NAldem Financial Service. Merged l Bands Rebate Consulting Merged 1 15,00 N $ 25DO $
Calculation Services
Bond Trustee Fen Fees &162004 11/Inom US Bank Merged 1 Bonds Trustee Fees Mar d1 7000 N $ 3.700 E
11 Disposition and Development Business Incentive 12/520435 winl22 Endurelmertmeres Financial Assistance(10 Year) Merged 840.00( N E 140.000 it
Agreement Aureements
12 Ovmm PaNdpation Agreement Business Incentive 11191 W02D18 VIP Motors Financial Assistance Merged 200,00 N $ 2D0,000 200.0 $ 200,
0150
Agreements
152007 Taxable Tax Allocation Bonds. Bonds Issued On or Before 9/182007 9112034 US Bank Property Acquisition Merged 9,461803 N $ 176,407 176407 E 176,
Se�iesC 12/31/10
16A ,cement for Reimbursement Miscellaneous 17J62o06 6I302037 Cityof Palm Springs PSL-236 Lease Merged 4.263.88 N $ 147.470 5
172004 Corrventirn Canter Bonds Bond Reimbursement 6520W 11/12034 City ef Palm Springs Agency Contribution to Convention Merged - N
Agreements Center Expansion
18 Contract Services-Financial Fees 9QM610 6I302019 Harrell&Company Merged 2 Bonds Diedoure/Rating Wiped 2 30, N $ 1,500 1 50 $ 1500
Advisors
2 Bond Trustee Fees Fees 5I162004 111imm US Bank Merged 2 Bonds Trustre Fees Merged 360 N $ 1.9W $
2 Contract Services-Audi Adman Costs 4I52010 N302017 Lance SaB&Lun hard Audit Services Mer till Merged 2 162,0 N E Sam $
2 Contract Senicas-Le al Admin Casts 1I121005 6rJ02017 WoodruBS adm General Legal Counsel Mer d1/Merged 2 72, N $ 90W $
2 Conrad Services-Financial Admin Caste 7118)2008 6f302019 Harrell&Company FOPS Consulting Mergedt/Merged 2 144,00 N $ 4000 $
Advisers
33 Administrative Cost Nlovvance Admin Cysts 7112C16 6l WOV Cityof Palm S -.n Overhead Cost Nl..aWNSatu a Meredll Mered2 4.625.0 N $ 250.OW 12500 S 12500
34 Loan LESHF Loam 54i/1998 035 Palm Springs Housing Loan to Merged Project No.1 Merged 1 N
Successor
35 ADroemera for Reimbursement City/Court,Loan(Prior 1o/1611991 11/12035 City of Palm Springs Project Costs Merged 1 413,5W N
0628111).Other Wastewater Fund
36 Agreement for Reimbursement City/County Loan(Poor 10/16/1991 11/12035 CM 0 Palm Springs Project Conte Merged 413,500 N
0628/111.Other Me awater Fund
37 Agreement for Reimbursement Dry(County Loan(Prior 82N7993 11/12W5 CM of Palm Springs Project Cob Merged 4W.00D N
0628/11).Other Wastewater Fund
38 City Loan and Interest City/County Loan(Prior 61152011 11/720m Cry of Palm Springs Operating and Administrative Costs Merged 1 1553.9131 N
W28/11).Other For FY 2011.12
39 City Loan and 7R�e�m
" aan(Prior w152011 11/12035 City of Palm Sons Operatng and Administeri Cob Merged 103250 N
r For FY 2011-12
4 City Loan and Interest ty Loan(Prior 51152011 11/12335 City of Palm Springs Operstng and Administrative Costs Mergedl/Mergetl2 2,011.7115 N $ $
Other For FY 2010.11
41 Agreement for RandWrsemort ty Loan(Prior 1bW20W 11/12035 City of Palm Springs Prepay Portion of PSL 236 Merged 1,139,872 N $ $
.Ones, Sustaimdli Fund
d 2007 Tax Natation Bond,Series NIM007 w2034 US Bank Reserve for September 1 Debt Merged 1 65961 N $ 659,613 65961 S 659,61
A Service
412007 Taxable Tex Placation Bonds. 9y182W7 9/12034 US Bank Reserve for September l Debt Mergedt 11864 N $ 118,647 118,647 $ 118,64Sena B Service
46 2W7 Triieble Tex Allocation Bantle. Wei 9112034 tAS Bank Reserve for September l Debt Merged 346,40 N $ 346,407 346,407 S 346,40
Series C Service
Palm Springs Recognized Obligation Pa rlent Schedules(BOPS 16-17I-ROPS Detail
July 1,2016 through June 30,2017
Raport Amounts in Whole Dollar
j A B C D E F G H I J K R S T U V W
16-17B
Norvkedevalopment Property Tax Trust Fund
(Non-RPITF) RPTTF
Confrec6Agreement Contract/Agreement Total Oulstandng 16-178
Item# Project NamelDe"digation Obligation Type Execution Dale Termination Date Payee Descripinn Project Scope Project Area Debt or ONigagon Retired ROPS 16-17 Total Bond Praceetls Reserve Balance Omer Funds Non-Adorn Admin Total
Property Tax-Cork&Bottle Property Maintenance 7/12013 6/302019 County of Riverside Property Tease on Agency Had Land Merged 15,OOC N S 4.000 200 $ 200
Property Pending PMP-Current Installment
49 PropeM Tax-Cork&Bottle Reserves 7112016 6rd02017 County of Riverside Reservefor Next Installment of Merged V $ $
Pro Provenly Tax on Item 48
50 Property Tax-PSL 236 Property Property Maintenance 7/12013 61302037 County of Riverside Property Texea on Property Under Merged 275000 N S 11,000 6,00 $ 6,00
PSL 236 Lease-Current Installment
51Property Tax -PSL 236 Property Reserves 7A 2016 e/302017 County of Riverside Reserve for Next Installment of Merged Y $ $
Property Tax on Item 50
52 Plaza Theatre-Insurance Property Maintenance 7AM16 613=017 City of Palm Springs Imumnce on Agency Hdtl Property Merged V $ §
P..dna PMP
53 Plaza Theatre-Maintenance Property Maintenance 7/12016 61302017 City of Palm Springs Maintenance Casts on Agency Hold Merged V $ $
Property Pending PMP
56 llddres Property Maintenance 7/12016 W302017 Darren Water UNities for Agency Held Property Merged 2.00C Y E 2000 1.00 $ 1,00
Pending PMP
57 Plaza Investment Lease Property Maintenance 71302D03 5/312018 Plazalnvestmems Lease of property adjacent to Plaza Merged 19, N $ 9.7W 4,90 $ 4.90(
Theatre used for access
62 2014 Subordnde Tax Allocation Refundng Bonds Issued 8/192014 9/12034 US Bank Refinancing of M01 and 200d Bonds Mergedt/Merged 2 20,309.1 D0 N S 1.129,600 32(I. $ 320,
Bonds After M7112
Contract Samees -Financial Fees 9=1311) 6/302019 Harrel&Company N14 Bands Dsclosure Met, Mergedl/Merged 2 W,W N $ 1,500 1.500 $ 1,
Advisons
6 Contract Services-Rebate Fees 6/42M0 61302016 Wildan Financial Services M14 Bonds Rebate Canadimg Mergedt/Merged 2 15, N $ It
Calculation Services
Bond Trustee Fees Fees B/192014 9n2034 US Bank 2044 Bands Trustee Fees Merged1lMerged 2 600 N S 390DO S
66 2014 Subordnde Tax Allocation Reserves SMMD14 9/12034 US Bank Reserve for September l Debt Mergedt/Merged 2 492.50 N $ 492.500 492, f 4925
Bonds Service
69 Capital Projects Bond Funded Project—Pre- 7/12015 6/30,2034 To be ddenmined Remaining 2007 Series C Bond Merged2 Y $ $
2011 Proceeds
] LRPMP Properties Property Maintenance 7AM16 6/302020 To be determined Maintenance Coats on Agency Had Mergedt/Mefged2 25, N $ 7,500 250 $ 2.5
Property Pending Dis oethm
71 LRPMP Properties Property Depositions 7/12016 61302020 To be determined Costs for Dspordon of Agency Hold Meredt/y Merged2 25, N $ 15,000 10.000 f 10,0
Property-Costs
etcale,pending,
doge Costs etc
7 Advance Budding
City for
evann Property Maintenance 1A2016 1/12017 City of Palm Springs a80 nd needs
dtlepair before sate;
unsafe witin9 Merged 23, N E 10,000 §
Bottle Budding Dechic Revering and needs repair before sale;rt rs
oxuped by a tenant
73 N E $
7 N E
75
1N E $
777
N S $
N $ $
78 N S $
79 N E $
so I N $ $
81 N $ $
82 N E $
B N f $
84 N $ $
6 N $ $
N $ $
$7 N $ $
N $ $
N $ $
N E $
91 N E S
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
Bonds issued Bonds issued and CDR 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(07101115 - 12/31/15)
1 Beginning Available Cash Balance(Actual 07/01115)
1,042,886 1,324 1,127,077 1,525,175 95,841
2 Revenue/Income(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
12131/15)
1,127,077 1,498,412 855,778
4 Retention of Available Cash Balance(Actual 12/31115)
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(01/01/16-06130116)
7 Beginning Available Cash Balance(Actual 01101116)
(C, D, E, G =4+6, F= H4+ F4+ F6, and H =5+ 6) $ 1,046,662 $ 1,331 $ $ 7,000 $ 48,836 $ 69,269
8 Revenue/Income(Estimate 06130/16)
RPTTF amounts should tie to the ROPS 15-16B distribution from the
County Auditor-Controller during January 2016 2,339,957
9 Expenditures for ROPS 15-16B Enforceable Obligations (Estimate Reserves for September 1 debt service
06130116) transferred to trustee in 15-16B shown as
1,046.630 1 331 25.725 2,405,457 expenditure, not as reserve per new instructions
10 Retention of Available Cash Balance (Estimate 06/30116)
RPTTF amount retained should only include the amounts distributed as
reserve for future period(s) 32
11 1 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 15-166 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