HomeMy WebLinkAbout24154 RESOLUTION NO. 24154
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PALM SPRINGS, CALIFORNIA, ACTING SOLELY IN ITS
CAPACITY AS SUCCESSOR AGENCY TO THE PALM
SPRINGS COMMUNITY REDEVELOPMENT AGENCY
APPROVING THE RECOGNIZED OBLIGATION PAYMENT
SCHEDULE (ROPS 17-18A & B) FOR THE PERIOD OF
JULY 1, 2017 THROUGH JUNE 30, 2018, PURSUANT TO
THE CALIFORNIA HEALTH & SAFETY CODE SECTION
34169(G)(1).
WHEREAS, the Community Redevelopment Agency of the City of Palm
Springs ('Redevelopment Agency") was a redevelopment agency in the City of
Palm Springs, 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 Lave'); 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.
NOW, THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF THE
CITY OF PALM SPRINGS, ACTING SOLELY IN ITS CAPACITY AS THE
SUCCESSOR AGENCY OF THE PALM SPRINGS COMMUNITY REDEVELOPMENT
AGENCY, DOES HEREBY 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 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. The administrative budget of $250,000 for the period of July 1,
2017 through June 30, 2018 is hereby approved.
SECTION 4. The City Manager 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
Resolution No. 24154
Page 2
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. In retaining the responsibilities of the Palm Springs Community
Redevelopment Agency as provided in California Health and Safety Code Sections
34173 and 34176, the City Council expressly determines, reaffirms, and ratifies the
statutory limitation on the City and the City Council's liability in retaining the
responsibilities of the Palm Springs Community Redevelopment Agency pursuant to AB
X1 26. Nothing in this Resolution shall be construed as a commitment, obligation, or
debt of the City or any resources, funds, or assets of the City to fund the City's service
as the Successor Agency to the Palm Springs Community Redevelopment Agency as
provided in this Resolution.
SECTION 6. This Resolution shall take effect three days from adoption.
PASSED, APPROVED, AND ADOPTED BY THE PALM SPRINGS CITY
COUNCIL, ACTING SOLELY IN ITS CAPACITY AS THE SUCCESSOR AGENCY TO
THE PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY, THIS 18th DAY OF
JANUARY, 2017.
DAVID H. ESQ., PH.D.
CITY MANAGER
ATTEST:
KATHLEEN D. HART, MMC
INTERIM CITY CLERK
Resolution No. 24154
Page 3
CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF PALM SPRINGS )
I, KATHLEEN HART, Interim City Clerk of the City of Palm Springs, Califomia,
hereby certify that Resolution No. 24154 was adopted by the Palm Springs City Council
at a regular meeting held on the 18th day of January, 2017, and that the same was
adopted by the following vote:
AYES: Councilmembers Kors, Mills, Roberts, Mayor Pro Tern Foat, and
Mayor Moon
NOES: None
ABSENT: None
ABSTAIN: None 1
F�
KATHLEEN D. HART, MMC
INTERIM CITYCLERK
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.
lsl
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 B C D E F G H I J K L M N O P O
17-18A Jul - December
Fund Sources
Contract/Agreement ContractfAgreemenl Total Outstanding ROPS 17-18 17-18A
Item# Project Name/Debt Obligation Obligation Type Execution Dale Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Total Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Total
66091665 $ 6696723 $ - $ 1,248,907 $ 35,686 $ 2,679,184 $ 125,000 $ 4,088,777
2 2007 Tax Allocation Bonds Series Bonds Issued On or Before 9/18/2007 9/1/2034 US Bank _Capital Pro acts Merged 1 18,959,812 N s 962.226 350,000 309.61 659,613
3 2007 Taxable Tax Allocation Bonds, Bonds Issued On or Before 9/18/2007 9/1/2034 US Bank Property Acquisition Merged 1 2,907,180 N $ 175,452 60,000 58,647 $ 118,647
Series B 12131/10
4 SERAF Loans SERAF/ERAF 4/20/2010 6/30/2037 Palm Springs Housing Loans for FY 2009110 and 2010111 Merged 1 Y $ $
Successor SERAF Payments
5 Housing Deferral Repayment LMIHF Loans 1/1/1996 6/30/2037 Palm Springs Housing Pre-1986 Set Aside Deferral Merged 1 803,126 N $ 803,126 803,126 $ 803,126
Successor
6 2004 Convention Center Bonds Bond ReII1401illement 6/62007 11/1/2034 City of Palm Springs Agency Contribution to Convention Merged i N
Agreemarl Center Expansion
7 Contract Services -Financial Fees 9/22/2010 6130/2019 Harrell&Company Merged 1 Bonds Disclosure iRaling Merged 1 32.500 N $ 1,700 $ -
Advisors
8 Contract Services-Rebate Fees 6/4/2010 6/30/2017 Willdan Financial Services Merged 1 Bonds Rebate Consulting Merged 1 15.000 N $ $
Calculation Services
9 Bond Trustee Fees Fees 6/16/2004 11/1/2034 US Bank Merged 1 Bonds Trustee Fees Merged 1 70.00 N $ 3 300 3,300 3,300
11 Disposition and Development Business Incentive 12/5/2006 9/1/2022 Endure Investments Financial Assistance(10 Year) Merged 1 700.000 N $ 140,000 35,686 104,314 $ 140,000
Agreement Agreements
12 Owner Participation Agreement Business Incentive 1/19/2000 6/30/2018 VIP Motors Financial Assistance Merged 1 Y $ - $
Agreements
15 2007 Taxable Tax Allocation Bonds, Bonds Issued On or Before 9/18/2007 9/12034 US Bank Property Acquistion Merged 2 8,577,616 N $ 518,062 346.407 $ 346,407
Series C 12/31/10
16 A reement for Reimbursement Miscellaneous 12i6/2006 6/30/2037 City of Palm Springs PSL-236 Lease Merged 2 3,773.388 N $ 135,181 135,181 $ 135,181
17 2004 Convention Center Bonds Bond Reimbursement 6162007 11/112034 City of Palm Springs Agency Contribution to Convention Merged 2 N
Agreements Center Expansion
18 Contract Services -Financial Fees 9/22/2010 6/3012019 Harrell&Company Merged 2 Bonds Disclosure!Rating Merged 2 38,500 N $ 1.500 $
Advisors
20 Bond Trustee Fees Fees 6/16=04 11/1/2034 US Bank Misread 2 Bonds Trustee Fees Merged 2 35,00 N 1,650 1,650 $ 1,650
25 Contract Services-Audit Admin Costs 4/512010 6/3012017 Lance Sell&Lun hard Audit Services Mergi Merged 2 Y $
26 Contract Services-Legal Admin Costs 1112/2005 6/30/2017 Woodruff 5 radlin General Legal Counsel Mer ed1/Memed 2 1 Y $
27 Contract Services -Financial Admin Costs 7118/2008 6/30/2019 Harrell&Company ROPS Consulting Merged!/Merged 2 Y $ - $ -
Advisors
33 Administrative Cost Allowance Admin Casts 711/2016 6/30/2017 City of Palm$ rin s Overhead Cast AllocatiioniSalaries Mer ed1/Merged 2 4.375,000 N $ 250.000 125.000 $ 125,000
34 Loan LNJWLoans 5/6/1998 11/1/2035 Palm Springs Housing Loan to Merged Project No.t Merged 1 24,503 N 24,503 24,503 24,503
Successor
35 Agreement for Reimbursement City/County Loan(Prior 10/16/1991 11/1/2035 City of Palm Springs Project Costs Merged 1 51,770 N 51,770 51,770 51,770
06128111),Other Wastewater Fund
36 Agreement for Reimbursement City/County Loan(Prior 10/16/1991 11/1/2035 City of Palm Springs Project Costs Merged 2 51,770 N 51,770 51,770 51,770
06128111),Other Wastewater Fund
37 Agreement for Reimbursement City/County Loan(Prior 6122/1993 11/1/2035 City of Palm Springs Project Costs Merged 2 98,080 N 98,080 98,080 98,080
06/28/11 .Other Wastewater Fund
38 City Loan and Interest City/County Loan(Prior 6/15/2011 11/1/2035 City of Palm Springs Operating and Administrative Costs Merged 1 2,226,012 N
06/28/11),Other For FY 2011-12
39 City Loan and Interest City/County Loan(Prior 6/15/2011 11/l/2035 City of Palm Springs Operating and Administrative Costs Merged 2 147,894 N
06/28/11),Other For FY 2011-12
40 City Loan and Interest City/County Loan(Prior 6/15/2011 11/l/2035 City of Palm Springs Operating and Administrative Costs Mergedi/Merged 2 1,845.750 N $ -
06/28/11).Other For FY 2010-11
41 Agreement for Reimbursement City/County Loan(Prior 12/6/2006 11/1/2035 City of Palm Springs Prepay Portion of PSL 236 Merged 2 1,184,791 N $ 200,280 200.280 $ 200.280
06/28/11),Other Sustainability Fund
43 2007 Tax Allocation Bonds,Series Reserves 9/18/2007 9/12034 US Bank Reserve for September 1 Debt Merged 1 642,61 N $ 642,613 $ -
A Service
44 2007 Taxable Tax Allocation Bonds, Reserves 9/182007 9112034 US Bank Reserve for September 1 Debt Merged 1 121,80 N $ 121,805 $ -
Series B Service
4612007 Taxable Tax Allocation Bonds, Reserves 9/182007 9/12034 US Bank Reserve for September 1 Debt Merged 2 356,655 N $ 356,655 $
Series C I 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 L M N O P Q
17-18A Jul -December
Fund Sources
Contract/Agreement Contract/Agreement Total Outstanding ROPS 17-18 17-18A
Rem# Project Name/Debt Obligation Obligation Type Execution Date 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 $ $ 1,248,907 $ 35,686 $ 2,679,184 $ 125,000 $ 4,088 777
48 Property Tax -Cork&Bottle Property Maintenance 7/1/2013 6/30/2019 County of Riverside Property Taxes an Agency Held Land Merged 1 3,000 N $ 3,000 1,500 $ 1,500
Property Pending PMP-Current Installment
50 Property Tax -PSL 236 Property Property Maintenance 7/1/2013 6/30/2037 County of Riverside Property Taxes on Property Under Merged 2 211,000 N $ 9,000 4,500 $ 4,500
PSL 236 Lease-Current Installment
56 Utilities Property Maintenance 7/1/2016 6/30/2017 Desert Water Utilities for Agency Held Property Merged 1 - 2,00 N $ 2,000 1.000 $ 1,000
Pending PMP
57 Plaza Investment Lease Property Maintenance 7/30/2003 5/31/2018 Plaza Investments Lease of property adjacent to Plaza Merged 1 9,90 N $ 9,900 5,400 $ 5,400
Theatre used for access
62 2014 Subordinate Tax Allocation Refunding Bonds Issued 8/19/2014 9/1/2034 US Bank Refinancing of 2001 and 2004 Bonds Merged l/Merged 2 18,192,000 N $ 1,606,100 492,500 812,900 $ 1,305,400
Bonds After 6/27112
63 Contract Services -Financial Fees 9/22/2010 6/30/2019 Harrell&Company 2014 Bonds Disclosure(Rating Merged l/Merged 2 15,000 N $ 1,500 $ -
Advisors
64 Contract Services-Rebate Fees 6/4/2010 6/30/2016 Willdan Financial Services 2014 Bonds Rebate Consulting Mergedl/Merged 2 15,000 N $ - $ -
Calculation Services
651 Bond Trustee Fees Fees 8/19/2014 9/1/2034 US Bank 2014 Bonds Trustee Fees Me di!Merged 2 60 000 N 2,750 2,75 $ 2.750
66 2014 Subordinate Tax Allocation Reserves 8/19/2014 9/1/2034 US Bank Reserve for September 1 Debt Mergedl/Merged 2 505,000 N $ 505,000 $
Bonds Service
70 LRPMP Properties Property Maintenance 7/1/2016 6/3012020 To be determined Maintenance Costs on Agency Held Mergedl/Merged 2 20,000 N $ 6,200 3,100 $ 3,100
Property Pendina Disposition
71 LRPMP Properties Property Dispositions 7/112016 6/30/2020 To be determined Costs for Dispostion of Agency Held Mergedl/Merged 2 20,000 N $ 11,600 5,800 $ 5,800
Property-Appraisals,Fencing,
Dla$in Costs etc
72 Advance for the City for Cork& Property Maintenance 1/112016 1/7/2017 City of Palm Springs Merged 1 Y
Bottle Building Electric Rewinng
loccupied ti a 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 B C D E F G H I J K R S T U V W
17-186 (January - June
Fund Sources
ContraclfAgreement Contract7Agreemenl Total Outstanding ROPS 17-18 17-188
Item# Project Name/Debt Obligation Obligation Type Execution Date Termination Date 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 $ 125,000 $ 2,607,946
2 2007 Tax Allocation Bonds Series Bonds Issued On or Before /1 7 9/112034 US Bank Capital Pro ects Merged 1 18,959,812 N S 962,226 302 613 302.613
3 2007 Taxable Tax Allocation Bonds, Bonds Issued On or Before 9/18/2007 9/112034 US Bank Property Acquisition Merged 1 2,907,180 N $ 175,452 56,805 $ 56,805
Series B 12/31/10
4 SERAF Loans SERAF/ERAF 4/20/2010 6/30/2037 Palm Springs Housing Loans for FY 2009/10 and 2010111 Merged 1 Y $ - $
Successor SERAF Payments
5 Housing Deferral Repayment LMIHF Loans 1/1/1996 1 Palm Springs Housing Pre-1986 Set Aside Deferral Merged 1 803,126 N $ 803,126 $
Successor
6 2004 Convention Center Bonds Bond Reimbursement 6/6/2007 11/l/2034 City of Palm Springs Agency Contribution to Convention Merged 1 N
Agreements Center Expansion
7 Contract Services -Financial Fees 9/22/2010 6/30/2019 Harrell&Company Merged 1 Bonds Disclosure/Rating Merged 1 32,500 N $ 1,700 1,700 $ 1.700
Advisors
8 Contract Services-Rebate Fees 6/4/2010 6/30/2017 Willdan Financial Services Merged 1 Bonds Rebate Consulting Merged 1 15,000 N $ - $
Calculation Services
9 Bond Trustee Fees Fees 6116/2004 1111/2034 US Bank Merged 1 Bonds Trustee Fees Merged 1 70,00 N $ 3,300 $
11 Disposition and Development Business Incentive 12/5/2005 9/l/2022 Endure Investments Financial Assistance(10 Year) Merged 1 700,000 N $ 140,000 $
A reemenl Agreements
12 Owner Participation Agreement Business Incentive 1/19/2000 6/30/2018 VIP Motors Financial Assistance Merged 1 Y $ - $
Agreements
15 2007 Taxable Tax Allocation Bonds, Bonds Issued On or Before 9/18/2007 9/1/2034 US Bank Property Acquisition Merged 2 8.577.616 N $ 518,062 171,655 $ 171.655
Series C 12/31/10
16 Agreement for Reimbursement Miscellaneous 1216,r2006 6/30/2037 City of Palm Springs PSL-236 Lease Merged 2 3,773,388 N $ 135,181 $
17 2004 Convention Center Bonds Bond Reimbursement 6/6/2007 34 CA of Palm Springs Contdbution to Convention Merged 2 N
Agreements ion
18 Contract Services -Financial Fees 9/22/2010 6/30/2019 Harrell&Company Merged 2 Bonds Disclosure/Rating Merged 2 38..500 N $ 1,500 1.500 5 1,500
Advisors
20 Bond Trustee Fees Fees 6/16/2004 11/1/2034 US Bank Merged 2 Bonds Trustee Fees Merged 2 35.000 N 1.650 S
25 Contract Services-Audit Admin Costs 4/5/2010 6/30/2017 Lance Soil&Lun hard Audit Services Mer ed1/Merged 2 Y $
26 Contract Services- al Admin Costs 1/12/2005 6/30/2017 Woodruff S radlin General I-eqat Counsel Mer edl/Merged 2 Y $ S
27 Contract Services -Financial Admin Costs 7/18/2008 6130/2019 Harrell&Company ROPS Consulting Mergedl/Merged 2 Y $ - S
Advisors
33 Administrative Cost Allowance Admin Costs 7/1/2016 6130/2017 City of Palm S rin s Overhead Cost Allocation/Salaries Mer edl/Mer ed 2 4,375,000 N $ 250,000 125,000 5 125,000
34 Loan LMIHF Loans 5/6/1998 11/1/2035 Palm Springs Housing OWto Merged Projedlitillit.1 Merged 1 24,503 N 24,503
Successor
35 Agreement for Reimbursement Cfty/County Loan(Prior 10/16/1991 11/1/2035 City of Palm Springs Project Costs Merged 1 51,770 N 51,770
06128111),Other Wastewater Fund
36 Agreement for Reimbursement City/County Loan(Prior 10/1611991 11/1/2035 City of Palm Springs Project Costs Merged 2 51,770 N 51,770
06/28/11),Other Wastewater Fund
37 Agreement for Reimbursement City/County Loan(Prior 6f22M993 11/1/2035 City of Palm Springs Project Costs Merged 2 98,080 N 98,080
06128111),Other Wastewater Fund
38 City Loan and Interest City/County Loan(Prior 6/1512011 11/1/2035 City of Palm Springs Operating and Administrative Costs Merged 1 2,226.012 N
06/28111),Other I For FY 2011-12
39 City Loan and Interest City/County Loan(Prior 6/15/2011 11/1/2035 City of Palm Springs Operating and Administrative Costs Merged 2 147,894 N
For FY 2011-12
40 City Loan and Interest City/County Loan(Prior 6/15/2011 11/1/2035 City of Palm Springs Operating and Administrative Costs Mergedl/Merged 2 1.845.750 N 5 - $
06/28/11),Other For FY 2010-11
41 Agreement for Reimbursement City/County Loan(Prior 12/612006 11/1/2035 City of Palm Springs Prepay Portion of PSL 236 Merged 2 1,184,791 N $ 200,280 $
06/28/11 Other Sustainability Fund
43 2007 Tax Allocation Bonds,Series Reserves 9/18/2007 9/1/2034 US Bank Reserve for September 1 Debt Merged 1 642,61 N $ 642,613 642,613 $ 642,61
A Service
44 2007 Taxable Tax Allocation Bonds, Reserves 9118M07 9/1/2034 US Bank Reserve for September 1 Debt Merged 1 121,805 N $ 121,805 121,805 $ 121.805
Series B I Service
46 2007 Taxable Tax Allocation Bonds, Reserves 9118=07 9/1/2034 US Bank Reserve for September 1 Debt Merged 2 356,655 N $ 356,655 356.655 $ 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 R S T U V W
17-188 (January- June
Fund Sources
Contract/Agreement Contract/Agreement Total Outstanding ROPS 17-18 17-18B
Item# Project Name/Debt Obligation Obligation Type Execution Date Termination Data Payee Description/Project Scope Project Area Debtor Obligation Retired Total Bond Proceeds Reserve Balance Other Funds RPTTF Armin RPTTF Total
$ 66.091,666 $ 6.696,723 $ - $ - $ - $ 2,482,946 $ 125000 $ 2607946
48 Property Tax -Cork 8 Bottle Property Maintenance 7/12013 613OM19 County of Riverside Property Taxes on Agency Held Land Merged 1 3,000 N $ 3,000 1,500 $ 1,500
Property Pending PMP-Current Installment
50 Property Tax -PSL 236 Property Property Maintenance 7112013 6/30/2037 County of Riverside Property Taxes on Property Under Merged 2 211,000 N $ 9,000 4,500 $ 4,500
PSL 236 Lease-Current Installment
56 Utilities Property Maintenance 7112016 6/30/2017 Desert Water Utilities for Agency Held Property Merged 1 2,00 N $ 2,000 1,000 S 1,000
Pending PMP
57 Plaza Investment Lease Property Maintenance 71=2003 5/31/2018 Plaza Investments Lease of property adjacent to Plaza Merged 1 9,90 N $ 9,900 4,500 $ 4,500
Theatre used for access
62 2014 Subordinate Tax Allocation Refunding Bonds Issued 8/19/2014 9/1/2034 US Bank Refinancing of 2001 and 2004 Bonds Mergedl/Merged 2 18,192,000 N $ 1,606,100 300,700 $ 300,706
Bonds After 6/27/12
63 Contract Services -Financial Fees 922/2010 6/30/2019 Harrell 8 Company 2014 Bonds Disclosure/Rating Mergedl/Merged 2 15,000 N $ 1,500 1,500 $ 1,500
Advisors
64 Contract Services-Rebate Fees 6142010 6/30/2016 Wilklan Financial Services 2014 Bonds Rebate Consulting Mergedl/Merged 2 15,000 N $ $
Calculation Services
65 Bond Trustee Fees Fees 8/1912014 9/1/2034 US Bank 2014 Bonds Trustee Fees Mer edl l Merged 2 60.00 N $ 2,750 $
66 2014 Subordinate Tax Allocation Reserves 8/1912014 9/1/2034 US Bank Reserve for September 1 Debt Mergedl/Merged 2 505,000 N $ 505,000 505,000 $ 505,000
Bonds Service
70 LRPMP Properties Property Maintenance 7/12016 6/30/2020 To be determined Maintenance Costs on Agency Held Mergedl/Merged 2 20,000 N $ 6,200 3,100 $ 3,10
Property Pending Disposition
71 LRPMP Properties Property Dispositions 7/12016 6130/2020 To be determined Costs for Dispostion U Agency Held Mergedl/Merged 2 20,000 N $ 11,600 5,800 $ 5,80
Property-Appraisals,Fencing,
Closing Costs etc
72 Advance for the City for Cork 8 Property Maintenance 1/12016 1112017 City of Palm Springs 80 year old buiklling has unsafe wiring Merged 1 y
Battle Building Electric Rewiring and needs repair before sale;it is
occu ied by a tenant
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 period(s) interest, etc. Admin Comments
ROPS 15-16B Actuals 01/01/16 - 06/30116
1 Beginning Available Cash Balance (Actual 01/01/16)
1,046,665 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
06130116)
Col C - Expense remaining 2007C Bond
Proceeds of$1,046,630 per Bond Expenditure
1,046,640 11,057 1,213,008 Agreement
4 Retention of Available Cash Balance (Actual 06/30/16)
RPTTF amount retained should only include the amounts distributed as Col G -Amount shown on 16-17A paid from
reserve for future period(s) Other Funds available from 15-16A; Col H - PPA
from 15-16A of$3,759 plus $1,177,815 reserve
36 11 1,181 ,574 for bond payments in16-17A
5 ROPS 15-16B RPTTF Balances Remaining
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 16-17B 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