HomeMy WebLinkAbout1/26/2017 - RESOLUTIONS - 045 RESOLUTION NO.045
A RESOLUTION OF THE OVERSIGHT BOARD FOR
THE SUCCESSOR AGENCY TO THE PALM SPRINGS
COMMUNITY REDEVELOPMENT AGENCY,
APPROVING THE RECOGNIZED OBLIGATIONS
PAYMENT SCHEDULE (ROPS 17-18) FOR THE PERIOD
OF JULY 1 , 2017 THROUGH JUNE 30, 2018,
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(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, a change in expenditures between previously approved line items is
required for ROPS period 16-17B, 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.
Resolution No. 045
Page 2
SECTION 2. The Recognized Obligation Payment Schedule (ROPS 17-18 A and
B) for the period of July 1, 2017 through June 30, 2018, attached to this Resolution as
Exhibit A, is hereby approved.
SECTION 3. In ROPS period 16-17B, (a) a $309,613 reduction to line item 43
(2007 Series A Bonds Reserve for Debt Service) funded with RPTTF and a $309,613
increase to line item 2 (2007 Series A Bonds Debt Service) funded with RPTTF and (b)
a $58,647 reduction to line item 44 (2007 Series B Bonds Reserve for Debt Service)
funded with RPTTF and a $58,647 increase to line item 3 (2007 Series B Bonds Debt
Service) funded with RPTTF is hereby approved, with no change in the total approved
enforceable obligations for ROPS period 16-17B.
SECTION 4. 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 5. 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 26 h DAY OF JANUA�RY,, 2017.
ATTEST:
`L
KATHLEEN D. HART, MMC
INTERIM CLERK/SECRETARY
Resolution No. 045
Page 3
CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF PALM SPRINGS )
I, KATHLEEN D. HART, Interim Clerk/Secretary of the Oversight Board for the
Successor Agency of the Palm Springs Community Redevelopment Agency hereby
certify that Resolution No. 045 was adopted by the Oversight Board at a Special
Meeting held on the 2Wh day of January, 2017, by the following vote:
AYES: Board Members Arthur, Foat, Marshall, and Ready
NOES: None
ABSENT: Vice Chair Van Horn, and Chair Howell
ABSTAIN: None
_'tom
KATHLEEN D. HART, MMC
INTERIM CLERK/SECRETARY
Resolution No. 045
Page 4
EXHIBIT A
ROPS 17-18
Summary Page
17-18A Period
17-18B Period
Cash Reconciliation
Recognized Obligation Payment Schedule (ROPS 17-18) - Summary
Filed for the July 1, 2017 through June 30, 2018 Period
Successor Agency: Palm Springs
County: Riverside
17-18A Total 17-18B Total
Current Period Requested Funding for Enforceable Obligations (ROPS Detail) (July - December) (January-June) ROPS 17-18 Total
A Enforceable Obligations Funded as Follows (B+C+D): $ 1,284,593 $ $ 1,284,593
B Bond Proceeds - - -
C Reserve Balance 1,248,907 1,248,907
D Other Funds 35,686 35,686
E Redevelopment Property Tax Trust Fund (RPTTF) (F+G): $ 2,804,184 $ 2,607,946 $ 5,412,130
F RPTTF 2,679,184 2,482,946 5,162,130
G Administrative RPTTF 125,000 125,000 250,000
H Current Period Enforceable Obligations (A+E): $ 4,088,777 $ 2,607,946 $ 6,696,723
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 Obligation Name Title
Payment Schedule for the above named successor agency.
Isl
Signature Date
Palm Springs Recognized Obligation Payment Schedule(ROPS 17.18)-ROPS Detail
July 1,2017 through June 30,2018
(Report Amounts in Whole Dollars
A e C D E F G H J N L M N O P O
17-18A Jul -December
Fund Sources
CantractlAgreement ContracbAgreement Tolal Outstanding BOPS 17-18 17-18A
llem4 Proled Name/Debt Obligation Obligation Type Execution Dale Terminabon Dale Payee DescriplionlProjed Scope Project Area Debt or Obligation Retired Total Bond Proceeds Rcerve8alance Other Funds RPTTF Admin RPTTF Total
86 091665 6,696,723 1,248,907 351 2,679,184 125,000 41"777
2007 Tax Allocai n n ri n r f r 1 7 It US Bank Capital Pro ec Mer d1 18959812 N 6222 350000 W9613 S9 1
3 2007 Taxable Tax Allocation Bands, Bonds Issued On or Before 9/1812007 9112034 US Bank Property Acquisition Merged t 2,907,180 N $ 175,452 60,000 58.64 $ 118,647
Series 12f3l/10
4 SERAF Loans SERARERAF 42072070 6/30/2037 Palm Springs Housing Loans far FY 2009110 and M10111 Merged 1 Y $ $ -
Successor SERAF Payments
5 Housing Deferral Repayment LMIHF Loans 1/1/1996 6W2O37 Palm Springs Hd ing Pre-1986 Set Aside Deferral Merged l 803.128 N $ 803.126 803.126 $ 803,126
Successor
7 Contract Services -Financial Fees 912212010 613012019 Harrell&Company Merged 1 Bonds Disclosure libeling Merged 1 32,50 N $ 1,700 $
Advisors
8 Contract Services-Rebate Fees 6/42010 6/30/2017 WSIIdan Financial Services Merged 1 Bands Rebate Consulting Merged 1 15.00 N $ $
Calculation Services
9 Bond Trustee Facts Fees 6/162004 1111/2034 US Be* Merced 1 Bonds Trustee Fees Mer ed 1 70.00 N 3,303 3,3N 3 300
it Disposition and Development Business Incept. 12/5/2005 g re A2022 Endure Investments Financial Assistance(10 Year) Merged 1 700.000 N $ 140,000 35,686 104,314 $ 140,000
ement Agreements
12 Owner Participation Agreement Business Incentive 1M92000 61302018 VIP Motors Financial Assistance Mergetl 1 Y E $
Agreements
15 2007 Taxable Tax Allocation Bonds, Bands Issued On or Before 911820D7 9112034 US Bank Property Acquisition Merged 2 8,577,616 N $ 518.062 346,407 $ 346,407
Sense 12/31/10
161Aareement for Reimbursement Miscellaneous 1262006 6130f2037 Citv of Palms rin s PSL-236 Lease Staged 2 3,773.388 N $ 135,181 135181 $ 135,181
7 1 8/8/200] City of Palm Springs Agency Canvenfian Merged N
18 Contract Services -Financial Fees 91=010 MD12019 Harrell&Company Merged 2 Bonds Disclosure/Rate, Merged 38.500 N $ 1,500 $ -
Admors
20 Bond Trustee Fees Fees 6/162004 11/1/2034 US Bank Merged 2 Bonds Trustee Fees Merged 2 35 DO N $ 1,650 1.65C $ 1,650
25 Contract Services-Audit Admin Costs 4WO10 613012017 Lance Sell I Lunithand Audit Services Morgesill Merged 2 Y
26 Contract Services-L al Admin Costs 1/12/2005 613012017 Woodru85 radlin General Legal Counsel Marqedlf Merged 2 Y $
27 Contract Services-Financial Admin Casts 7/182008 6/30/2019 Harrell&Company ROPS Consulting Mergedl/Merged 2 Y $ - $
Advisors
33 AtlministraOse Cost Allowance Admin Costs 7/1/2016 61302017 city of PalmSprings Overhead Cost Also
ationlSalanes M sit/112 4,375000 N S 250000 125000 $ 125.000
URW 1W LMIHF Loess - 11/112035 Palm Springs Housing Loan to Merged Proj it N 24.503 24,503 2g50
Successor
35 Agreement for Reimbursement C4ylCoonty Loan(Rdor 10/16/1991 1111/2035 City of Palm Springs Project Costs Merged 51,770 N 51,770 51.770 51,770
0828/11).Other Wastewater Fund
36Agreement far Reimbursement ChyfCeunty Law(prior IW16/1994 11/11MM City of Palm Springs Project Costs Merged 51.770 N 51,770 51.770 51,770
06MI111,Other Wastewater Fund
37 Agreement for Reimbursement ChyfCcunty Loan(Pror 6122/1993 11/1/2035 City of Palm Springs Projed Costs Merged 98.080 N g8,080 98,080 98.080
0611).Other Wastewater Fund
38 City Loan and Interest Chy/Ccunty Loan(Prior 6115120/1 11112035 City of Palm Sprblgs Operating and Administrative Costs Merged i 2,228012 N
06/28117).Other For FY 2011-12
39=and Interest _ torn 6/15/7L 1 35 City of Palm Springs Operating and Administrative Merged 2 147 N
For FY 2011-12
40 City Loan and Interest City/County Loan(Prior 61152A11 11112035 Cry of Palm Springs Operating antl Administrative Costs blergedlNerged 2 1 MS,750 N $ $ -
0628/11),Other For FY 2010-11
41 Agreement for Reimbursement CitylCounly Loan(Prior 12/6/2006 1 V12035 City of Palm Springs Prepay Potion of PSL 236 Merged 2 1.184,791 N $ 20D,280 200280 $ 200.280
06128/11).Other Sustainability Fund
432007 Tax Allocation Bonds,Wes Reserves 9/182007 9/imm UB Bank Reserve for September 1 Debt Merged 642,61 N $ 642,613 $ -
A Service
2007 Taxable Tax Allocation Bonds, Reserves 9/18/2007 9112034 US Bank Reserve fan September 1 Debt Merged 1 121,80 N $ 121.W5 $ -
Senes B Service
482007 Taxable Tax Allocation Bonds, Reserves 9/182007 9112034 US Bank Reserve for September l Dent Merged 356,655 N $ 356,655 $
Series C Service
Palm Springs Recognized Obligation Payment Schedule(ROPS 17-18)-ROPS Detail
July 1,2017 through June 30,2018
(Report Amounts in Whole Dollars
A B C D E F G H I J K L M N O P p
17.1SA Jul -December
Fund Sources
Contract/Agreement Contract/Agreement Total Outslanding ROPS 17-18 17-18A
Item# Project NamelOebt Obligation Obligation Type Execution Date Termination Date Payee Descriplicn jed Scope Project Area Debt or Obligation Retired Total Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Total
66,091,665 $ 6696 723 $ 1248 90] 35,686 2 679 184 125,000 3 4,088,777
48 Property Tax CorkB Bottle Property Maintenance 7/12D13 6f30/2019 County of Riverside Property Taxes on Agency Held Land Merged 3,00 N $ 3,000 1.500 $ 1.500
Property I Pending PMP-Curren Installment
50 Property Tax-PSL 236 Property Property Maintenance 7112D13 6/302037 County of Riverside Property Taxes on Property Under Merged 211,00 N $ 9,000 4,61DO $ 4,500
PSL 2W Lease-Current Inslailmenl
56 Utilises Property Maintenance Vlal)16 6/302017 Dawn Water utilities for Agency Held Property Merged 1 2, N $ 2,000 1,0 $ 1000
Perdino PMP
57 Plaza Investment Lease Property Maintenance 7f3012003 5/312018 Plaza Investments Lease of property adjacent to Plaza Merged 1 9,91>0 N $ 9,900 5,4 $ 5,400
Theatre used for access
622014 Subordinale Tax Allocation Refunding Bonds issued 8M92014 9/12034 US Bank Refinancing of 2001 and 2004 Bonds Maigedt/Merged 2 18.192.000 N $ 1,606,100 492,500 812,900 $ 1,305.400
Bonds After 621112
63 Contract Services -Financial Fees 9/222010 6/302019 Harrell&Co npany 2014 Bonds Disclosure/Rating Mergetll/Merged 2 15'am N $ 1.500 $
Advisors
64 Contract Services-Rebate Fees 6/42010 6/3012016 Wllldan Financial Services N14 Bonds Rebate Consulting Mergetll/Merged 2 15, N $ $
Calculation Services
65 Band Trustee Fees Fear 8/192014 911 US Bank 2014 Bonds Trustee Fees Meredi/Merged 2 60000 N s 2750 27 2750
662014 Subordinate Tax Allocation Reserves 8/192014 911/2039 US Bank Reserve for September l Debt Mergedtl Merged 505,000 N $ 505,000 $
Bonds Service
70 LRPMP Properties, Property Maintenance 711MO16 6130= To be determined Maintenance Casts on Agency Held Mergetlll Merged 2 20,00 N $ 6,200 3,100 $ 3,100
Property Pending Dis osltion
71 LRPMP Procaffes Properly Dispositions 7/1/2016 V3012020 To be d&ermined Costs for Disposition of Agency Held Mergetll;Merged 2 20,1 N $ 11,600 5,800 $ 5.800
Property-Appraisals,Fencing,
Closin Costs eto
72 Advance for the Gty for Cork$ Property Maintenance V12o16 1112017 City ."Springs 80 year oM wiring Merged Y
Rattle Building Elec r c Rewiring and how.ho.ir belle sale:4 is
occu iedb .tenant
Palm Springs Recognized Obligation Payment Schedule(ROPS 17-18)-ROPS Detail
July 1,2017 through June 30,2018
(Report Amounts in Whole Dollars
A 6 C D E F G H 1 J K R S T U V W
17-18B(January-June
Fund Sources
Contact/Agreement ContractrAgreement Taal Outstanding ROBS 17-18 17-180
It.# Project NamidDebt Obligation Obligation Type Execution Date Termination Dale Payee Descripbon/Project Scope Project Area Debt or Obligation Retired Total Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Total
66,091,665 6,696,723 2482 946 125,000 S 2607.946
7 Tax Allocation Bonds Series Bonds Issued On or Before 9/182007 9112034 US Bank Coital Pre acts Me ed1 18959812 N 962226 302613 S 102613
32007 Taxable Tax Allocation Bonds, Bonds Issued On or Before 9/182007 91120U US Bank Proper Acquisition Merged 2.90 180 N $ 175,452 56,80E $ 56,805
Series B 12131A0
4 SERAF Loans SERAFIERAF 4202010 613012037 Palm Springs Housing Loans for FY 2009110 and 2010/11 Merged 1 Y $ $
Successor SERAF Payments
5 Housing Deferral Repayment IMIHF Loans 1/1/1996 613012037 Palm Springs Housing Pre-1986 Set Aside Deferral Merged 1 803,126 N $ 803.126 $
Successor
Centerr
7 Contract Services-Financial Fees 9222010 6/302019 Hal 8 Company Merged 1 Bonds Disclosure/Rating Merged 1 32. N $ 1,700 1 700 $ 1,700
Advisers
8 Contract Services-Rebate Fees 6142010 6/3W2017 WIMan Finandal Services Merged 1 Bonds Rebate Consulting Merged 1 15,00 N $ S
Calculation Services
9 Bond Trustee Fees Fees 6116QO04 17/12034 US Bank Memo 1 Bonds Trustee Fees Mel ea 1 70,0 IN 3 300 $
11 Disposition and Development Business Incentive 12/52005 91111 Endure Invesbnents Financial Assistance(10 Yaar) Merged 1 700,000 N $ 140.000 $
A reement reements
12 Ovmer Participation Agreement Business Incentive 11191200D 5/3W2018 VIP Motors Financial Assistance Merged 1 Y $ - $
Aarearmants
152007 Taxable Tax Allocation Bonds, Bands Issued On or Before 91IW2007 9/12034 US Bank Proper Acquislticm Merged 8,577,618 N $ 518,W2 171,655 $ 171,655
SeriesC ini/10
16A reement for Reimbursement Mlscelbureous 12612006 6/302037 City of Palms rin s PSL-236 Lease I Mar ed2 3,773,388 N S 135.181
9s A9er1oY Convention ; N
18 Contract Sadness -FinancialFees 9222D10 6/30/2019 Harrell A Company Merged 2 Bonds Disclosure/Rating Merged 3850 N $ 1.500 150E $ 1.500
Advisors
20 Bond Trustee Fees Fees 611612D04 11112034 US Bank Mer 2 Bonds Trustee Fees Merged 2 35.00 N 1,654) $
25 Contract Services-Audit Admin Costs 4/52010 6/302017 Lance Sall&Lunhard Audit Services Meredl/Merged2 V $
26 Contract Services-L I Admin Costs 1/1MIDDS 6,30,2017 WaodrueSradlin GeneralL al Counsel Mer will Merged2 Y $
270ontract Services -Finandal Martin Costs 711W2008 6130,2019 Harrell a Company ROBS Consulting Mergedl/Merged 2 Y $ - $
Advis
33 Administrati.a Cost Allowance Admin Costs 7/12016 6t300017 CI; of rpalms rin s Overhead Cost alocatiaNSalaries Me dl/Mer ed2 4375 E00 N $ 250000 125,000 $ 125000
34 - Sifil 11/112 0 3 5 Palm Spdn, -,503 N 24,503
Successor
r
35 Agreement for Reimbursement CilylCmnty Loan(Prior IOM611991 11112035 City of Palm Springs Project Costs Merged 51,770 N 51,770
06128111),Other Wastewater Fund
36 Agreement for Reimbursement CitylCounty Loan(Prior 10116/1991 11112035 City of Palm Springs Project Costs Merged 51,770 N 51'Ta
062B111 Other Wastewater Fund
37 Agreement for Reimbursement City/County Loan(Poor 6/22/1993 11112035 City of Palm Springs Project Costs Merged 9a,090 N 99,080
0612811 I.Other Wastewater Fund
38 City Loan and Interest Cdy/Ccunry Wan(Prior 611512011 11112035 City of Palm Springs Operating antl Administrative Casts Merged 2,22W012 N
05128/11),Other For FY 2011-12
39 City Loan and Interest C' 1Aae ,, .:-. S City of Palm Springs C ' aM Administrative Casts Merged 2 147 N
-12
40 City Loan and Interest Cir!,County Wan(Prior W1W2011 11/12035 City of Palm Springs Operating and Administrative Cost; Merged vMerged2 1.845.750 N $ $
06128/11),Other For FY 2010-11
41 Agreement for Reimbursement CitylCounty Loan(Prior 12/W2006 11/12035 City of Palm Springs Prepay Potion of PSL 236 Merged 1,154,791 N $ 200,280 $
0628/11),Other Sustalratallity Fund
432007 Tax Allocation Bales,Seder Reserves 9/1W2007 91 US Bank Reserve for September l Oeal Merged 6QA1 N $ Si642.81 $ 642,613
A Service
lloaal Bonds,
442007 Taxable Tax AReserves 9/18/2007 9/12034 US Bank Reserve for September l Debt Merged 121,80 N $ 121,80E 121.80E $ 121.605
Series B Service
462007 Taxable Tax Allocation Bonds, Reserves 911W2007 9/12034 US Bank Reserve for September l Debt Merged 356,6E N $ 356,65E 356,555 $ 356,555
SeriesC I Service
Palm Springs Recognized Obligation Payment Schedule(ROPS 17-18)-ROPS Detail
July 1,2017 through June 30,2018
(Report Amounts in Whole Dollars
A B c D E F G H I J K R S T U V W
17-18B(January-June
Fund Sources
ConbactlAgreemenl Conbracl/Agreement Total Outstanding ROPS 17-18 17-18B
Item# Project Nama/Debt Obligation Obligation Type Execution Data Termination Dale Payee Description/Project Scope Project Area Debt or Obligation Retired Total Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Total
66.091.665 6,696,723 2,482,946 $ 126.000 $ 2.607.946
48 Properly Tax-Cork&Boos Property Maintenance 7/1/2013 MOV2019 County of Riverside Property Taxes on Agency Held Land Merged!1 3,00C N $ 3,000 1.500 $ 1,500
Property Pending PMP-Current Installment
50 Property Tax-PSL 236 Property Property Maintenance 7/12013 6/312=37 County of Riverside Property Taxes on Property Under Merged 211,00C N $ 9,000 4,500 $ 4,50
PSL 2W Lease-Current Installment
56 UNities Property Maintenance 7/1/2016 6/302017 Desert Water Utilities for Agency Held Property Merged 1 2,0 N $ 2,000 1,0 $ 1,0,3
Pending PIMP
57 Plaza Investment tease Property Maintenance 713W2003 5/31R01a Plan Investments Lease of property adjacent to Plaza Merged 9,9 N $ 9,91)0 4.500 $ 4.50
Theatre used for access
622014 Subordinate Tax Albcaton Refunding Bonds Issued 811 W2014 91 US Bank Refinancing of 2001 and 2004 Bonds MergedV Merged 2 18,192,000 N $ 1,606,100 300,700 "$ 300,700
Bonds After W27112
63 Contract Service.-Financial Fees 922J2010 6/3012019 Harrell&Company 2014 Bonds Disclosure/Rating Mergedll Merged 2 15,00 N $ 1,500 1,500 1SDC
Advisers
54 Contract Services-Rebate Fees 6/42010 6/302016 Wddan Financial Services 2014 Bonds Rebate Consulting Mergedt/Merged 2 15,000 N $ 1$
Calculation Services
6 Bonet Trustee Fees Fees BA92014 911mu US Bank 12014 Bonds Trustee Fens Mar aril/Merged 2 60 00 N $ 2.750
662014 Subordinate Tax Allocation Reserves 8/1W2014 9/12034 US Bank Reserve for September l Debt Mergedl/Merged 2 505,000 N $ 505,000 505.000 $ 505,000
Bonds I Service
70 LRPMP Properties Property Maintenance 7112016 Br3012020 To be determined Maintenance Costs on Agency Held Merged l/Merged 2 20,00 N $ 6,200 3,100 3,100
Property Pending Disposition
71 LRPMP Pmperfies Properly Dlsposibons 711/2016 6130,2020 To be determined Costs for Dispostan of Agency Held Mergetltl Merged 2 20,00 N $ 11.600 5.800 $ 5,800
Property-Appraisals,Fencing,
Clasin COaIS etc
72 Advance for the Dty for Cork& Property Maintenance 1/12016 City of Palm Springs BQ. - fe wiring Merged I V
Bottle Bidding Electric Rewiring it is
Palm Springs Recognized Obligation Payment Schedule (ROPS 17-18) - 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 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 periods interest, etc. Admin Comments
ROPS 15-168 Actuals 01/01/16-06/30/16
1 Beginning Available Cash Balance(Actual 01/01/16)
1 016,665 1,333 7,000 48,836 69,259
2 Revenue/income(Actual 06/30/16)
RPTTF amounts should tie to the ROPS 15-16B distribution from the
County Auditor-Controller during June 2016
11 8 19,359 2,339,957
3 Expenditures for ROPS 15-16B Enforceable Obligations(Actual
06/30/16)
Col C-Expense remaining 2007C Bond
Proceeds of$1,046,630 per Bond Expenditure
1,046,640 5,341 11,057 1,213,008 Agreement
4 Retention of Available Cash Balance(Actual 06130/16) Col G-Amount shown on 16 17A paid from
RPTTF amount retained should only include the amounts distributed as Other Funds available from 15-1A; Col H-PPA
reserve for future period(s)
from 15-16A of$3.759 plus$1,177,815 reserve
36 1.341 23,111 1,181,574 for bond payments in 16-17A
5 ROPS 15-16B RPTTF Balances Remaining
No entry required
14,634 Col H-PPA from 15-16B
6 Ending Actual Available Cash Balance
CtoG=(1 +2-3-4), H =(1 +2-3-4-5)
$ $ - $ - $ 1,659 $ 34,027 $ - Col F+Col G =$35,686-apply to EO in 17-18
Palm Springs Recognized Obligation Payment Schedule (ROPS 17-18) - Notes July 1, 2017 through June 30, 2018
Item # Notes/Comments
_ 70 Trash removal and weed abatement for 3 remaining LRPMP properties -2 hours for 3 staff, performed quarterly
71 Fencing for 3 properties at$100 per month and $8,000 for appraisals for remaining LRPMP properties
Housing deferral/loan payments (Lines 5 and 34) and City Loan/Reimbursement payments(35, 36, 37 and 41)combined amounts are an estimate based on CAC
5, 34,35, estimated RPTTF residual to be distributed for 16-17B on January 3, 2017. Will need to be adjusted for actual, and we will inform DOF analyst of new calculated
36, 37, 41 amounts
2 Revised 16-17B Line 43, moved $309,213 to Line 2 to pay March 1, 2017 Debt Service, balance of$350,000 left for Line 43 on 16-1713 for Line 2 Reserve
3 Revised 16-17B Line 44, moved $58647 to Line 2 to pay March 1, 2017 Debt Service, balance of$60,000 left for Line 44 on 16-17B for Line 3 Reserve