HomeMy WebLinkAbout1/18/2017 - STAFF REPORTS - 1.H. QALM SA
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SUCCESSOR AGENCY STAFF REPORT
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DATE: JANUARY 18, 2017 CONSENT CALENDAR
SUBJECT: APPROVAL AND TRANSMITTAL OF RECOGNIZED OBLIGATIONS
PAYMENT SCHEDULE (ROPS 17-18A AND 17-18B) FOR THE PERIOD OF
JULY 1, 2017 THROUGH JUNE 30, 2018, PURSUANT TO SECTION
34169(G)(1) OF CALIFORNIA HEALTH & SAFETY CODE
FROM: DAVID H. READY, CITY MANAGER
BY: SUZANNE HARRELL, CITY FINANCIAL ADVISOR
SUMMARY
Under the Redevelopment Dissolution Act, the Successor Agency is required to
approve a Recognized Obligation Payment Schedule (ROPS) and submit to the County
Auditor-Controller, the State Department of Finance (DOF), and the State Controller's
Office. After review and approval by the City Council acting as the Successor Agency,
the ROPS must be approved by the Oversight Board. This ROPS covers the period
from July 1, 2017 through June 30, 2018, separated into two six-month periods. The
ROPS will subsequently be presented to Oversight Board and submitted to the
Department of Finance and County Auditor-Controller prior to the deadline of February
1, 2017.
The Successor Agency is also required to approve an administrative budget in an
amount not to exceed the maximum permitted under the Redevelopment Dissolution
Act.
RECOMMENDATION:
Adopt Resolution No. , "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 17-18) AND AN ADMINISTRATIVE EXPENSE BUDGET FOR THE PERIOD OF
JULY 1, 2017 THROUGH JUNE 30, 2018, PURSUANT TO THE CALIFORNIA HEALTH
& SAFETY CODE."
ITEM NO. ,- • I E
Successor Agency Staff Report
January 18, 2017 — Page 2
Recognized Obligation Payment Schedule 17-18
STAFF ANALYSIS:
The ROPS is the document used by the DOF to determine the amount of
Redevelopment Property Tax Trust Fund (RPTTF) moneys the Successor Agency will
be allowed to retain on a six month basis to meet approved obligation of the Successor
Agency, as well as the amount of the Successor Agency's allowable administrative
budget.
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 DOF no later than February 1 each year. The deadline with respect to
ROPS 17-18 is February 1, 2017.
After approval by the Successor Agency, the ROPS will be submitted to the Oversight
Board and the Department of Finance for review and approval.
FISCAL IMPACT:
The total enforceable obligations for Fiscal Year 2017-18 are $6,696,723. The
obligations are funded with a combination of RPTTF, funds unspent in the prior ROPS
period, and bond reserves funded in the prior ROPS period as required by the bond
indentures.
The maximum amount of the allowable administrative budget for the Fiscal Year is
$250,000, which is allocated to salaries and benefits as shown below:
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
The maximum allowance for administrative costs does not cover the total of such costs
incurred by the City to administer the winding down of the former Redevelopment
Agency's operations. Additional expenses not covered by the maximum allowance
include additional salaries of personnel allocable to the Successor Agency, legal costs
of the Successor Agency, costs to prepare the ROPS and audit of the Successor
Agency's financial statements, which total approximately $50,000. Such costs are paid
by the General Fund. If any of the $250,000 allowance remains after payment of
salaries, any amounts will be applied to such other additional administrative costs.
02
Successor Agency Staff Report
January 18, 2017 -- Page 3
Recognized Obligation Payment Schedule 17-18
JAW
SuxQne Harrell Geoffrey Kiehl
City Financial Advisor Director of Finance and Treasurer
David H. Ready Marcus Fuller
City Manager Assistant City Manager
Attachments:
1. Resolution
2. Recognized Obligation Payment Schedule for Fiscal Year 17-18
(Exhibit "A" to the Resolution)
03
RESOLUTION NO.
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 17-18) AND AN ADMINISTRATIVE
EXPENSE BUDGET FOR THE PERIOD OF JULY 1, 2017
THROUGH JUNE 30, 2018, PURSUANT TO THE
CALIFORNIA HEALTH & 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, 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.
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
04
Resolution No.
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. READY, CITY MANAGER
ATTEST:
KATHLEEN HART, INTERIM CITY CLERK
05
Resolution No. _
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, California,
hereby certify that Resolution No. 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:
NOES:
ABSENT:
ABSTAIN:
KATHLEEN HART, INTERIM CITY CLERK
City of Palm Springs, California
06
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): $ 1,652,853 $ $ 1,652,853
B Bond Proceeds - - -
C Reserve Balance 1,617,167 - 1,617,167
D Other Funds 35,686 - 35,686
E Redevelopment Property Tax Trust Fund (RPTTF) (F+G): $ 2,435,924 $ 2,607,946 $ 5,043,870
F RPTTF 2,310,924 2,482,946 4,793,870
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.
/s/
Signature Date
07
Palm Springs Recognized Obligation Payment Schedule(ROPS 17-18)-ROPS Detail
July 1,2017 through June 30,2018
(Report Amounts in Whole Dollars
A 8 C D E F G H I J N L M N O P D
17-ISA Jul -December
Fund Sources
ConhaNAgreemenl ConbacrVAgreemenl Total Outstanding ROPS 17-16 17-18A
Here4 Project NameMebt 0616gation Obligation Type Execution Date Terminabon Date Payee Oescdptiom'Pri Some Project Area Debt or Oblgation Retired Total Bond Proceeds Reserve Balance Otli Funds RPTTF Admm RPTTF Total
$ 88091885 6ffili $ - $ 1617167 35686 $ 2310924 $ 125D00 $ 4p&6]]]
2007 Tax Allosi Bonds.Series Bonds Issued On or Before 9/18200] Timm US Bank Cs Tal Pr i Merged 1 111959812 N 962226 65961 1
2007 Taxable Tax Allocation Bands, Bonds Issued On m Berme 911920N 9112034 US Bank Property Aooueiteon Merged/ 2,907,18C N $ 175,452 118,641 $ 118,647
Series B 12/31110
SERAF Loans SERAF/ERAF 4202010 6130.2037 Palm Springs Housing Loans for FY 20t19f10 arm 2010/11 Merged/ Y s E
Successor SERAF Paidnents
Housing Deferral Repayment LMIHF Loans 1/1/1995 61302037 Palm Springs Housing Pre-1986 Set Aside Deferral Merged 603,1 N $ B03,126 W3,1 M $ 803.126
Suns .
Id
7 Contract Services -Financial Fees 91=01D B/3N2019 Harrell&Company Merged 1 Bonds Disclosure/Rating Merged 1 32.W N S 1,700 S -
Addsos
Cmbact Services-Rebate Fees 64r2010 613012017 WIMan Financial Serviws Merged 1 Bonds Piston Consulbllg Merged/ 15, N $ - S -
Ciuvowbon Services
Bond Trustee Fees Fees e1162004 11/12034 US Bank Meri 1 Bonds Twelve Fees Merged 1 70 N $ 3,300 3 $ 3.30
11 Disposition am Development Business Incentve 12/5/2005 9/12022 Endure Investments Financial Assistance(10 Year) Merged 1 700, N $ 140,000 35,68k 104,314 s /40,000
Agreement meMs
12 Owner Participation Agreement Busivess Incentive 1/11i Br.10/11118 VIP Motos Finanrl Assistance Merged Y $ - $ -
A me N
15 21 Taxable Tax Allocated Bonds, Bands Issued On an Beore 9)18r"7 9112034 US Bank Praii Ac disilron Merged 2 8,1 N $ 518.062 W.40 s 346,407
SerlesC 12731/10
16 Areementfor Re.mbursement Miarakereals 12/rY2W6 6r30203] - aPalm Pi-236 Lease jMerg�
3773.M8 N S 136,181 135181 $ 1351B1
17 2004 Convantean Cents"Barge.. i N
18 Conrad Services Financial Fees 91222010 6502019 Hamel&Cmnparry Merged 2 Bonds Disdowre Adding M.5 N $ 1500Advsi
Bond Trustee Fees Fees 8/162004 /1112MC US Band M ed 2 Botds Trustee Fees 35N $ 1650 1 $ 1650
Contract Services-Audio Admin Costs 4152010 W ,2017 Lance Sol&Lu hard Audit Semi l Me 2 - Y E 5
26 Contract Services-Le el Admin Cost; 111=05 6rJ0/2017 WoodruBS lin GeneralL (Counsel 2 V $
27 Contrao Services -Financial Admin Code 71162 18 6/302019 Hamell&Co pony ROPS Consulting l Merged 2 Y $ - 3Advoors
33 Admmiskahve Cost Allowance Admin Csls 7112016 6r30201] C of PalnS n Overhead Cst AllocabaNSalaries Mer ed2 4375 N 250000 125.000 $ 1250003a Loan LMIHF Loans 5'611998 Lean to Mergetl - ii t 24,51Y3 24.W3 24,503
35 Agreement Im Reimbursement CrylCounty Loan(Prior 1011611991 11/12035 g City of Palen Springs Poject Coal Merged 51770 N 51770 51,770 51,770
0611),Oiler Wastewaer Fund
36 Agreement for Reambursentent City'Coum,Loan(Pro, t011611991 11112035 Gary of Palm Springs Project Coate Mergetl2 51,770 N 51Ta 51)70 51,T70
Di 11.Omer Wastewater Fund
37 Agreement for Reimbursement CipoC.my Loan Prior ry22/1993 11/12035 City of Palm Springs Project Costs Merged 91 N WON 98.080 9808o
D6/26/111,Omer Wastewater Fund
38 City Loan and Interest CilylCounry Loan Profi 6/152011 1 V12035 Gay of Pact Springs Operating and Administrative Costs usi 1 2226,012 N
D620/11 Other Far FY 2011-12
39 City Loan and Interest City/County Loan(Prim 1VIQ035 City of Palm Springs arm Addanisndies Costs 147� N
06281tf Otlxu 1 Mmgetl.- a -.
40 C3y Loan and Interest CitytCounty Loan on., WIW2011 111112D35 City of Palm Springs Operated,and Administrative Costs Merged4Merged 2 1,845,7 N $ S
11 L Other I I I For FY 2010-11
41 Agreement for Reimbursement City/County Loan(Prim 12/61 11/112035 City o1 Palm Springs Prepay Partner of PSL 236 Merged 2 t 184,781 N $ 200,280 200 280 S 200.280
D628111)ONer Sustainamina Fund
4 2W7 Tax Aldrateon Bolls,Series Reserves 9/182007 9//12034 US Bank Reserve for September 1 Debt Merged 1 642,61 N $ 642,613 S
A Seines
2W7 Taxable Tax Allocation Bonds, Reserves 9/182W7 9/12054 US Bank Reserve for September 1 DeM Merged/ 121.80 N S 121805 $ -
Seen 9 S..
4 Sedee C Semce
2W7 Taxable Tax Midea ion Saudis. Rerve ses WlWD07 9'12 Reserve for US Bank Rese for September 1 Debt Merged 2 356,8 N $ 356,855 $ -a
O 8 I
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 N L M N O P D
17-ISA Jul -December
Fund Sources
Con12c[/Agreement ContractlAgneement Total Outstanding ROPS 17-18 17-18A
Item If Project Name/Dent OdigaBm Obligation Type Execut on Date Terminaboo Date Payee DeecripilowrProiecl Scope Project Area Debt or ONgation Retlred Total Bond Proceeds Reserve Balance Other Funds RPTTF AEmin RPTTF Total
$ 66 091 665 $ 6 69B 723 $ 1,617,1157 35 886 2,310,924 125000 4 OBB]77
48 Property Tax -Cork a Bottle Property Maintenance 7/112013 6130i 019 County of Riverside Property Taxes on Agency HeM Lard Merged 1 3. N $ 3,000 1, 6 /500
Property Pending PMP-Current InslallmeM
Property Tax -PSL 236 Property Pnd erly Maintenance 7/12013 6/30/2037 County of Riverside Property Taxes on Property Under Merged 2 211, N $ 9,000 4, $ 4,500
PSL 2W Lease-Current Inslallmerd
56 Uttlitles Property Mamtenance 7/12016 8/302017 Desert Weber Ublitles for Agency fled Property Merged 1 2.= N s 2,000 1, $ 1,000
Pending PIMP
57 Plaza Investment Lease Property Maintenance 7/302003 W3112018 Plaza Imxshnents Lease of property adjacent M Plaza Merged 1 %w N s %!300 5,400 s 5,4W
Theatre used for access
8 M14 Subodmmte Tax Alloda8on Refunding Border Issued 811MO14 W12034 US Bank Refinanung of 2001 ant 2NX Bonds Margedtl Merged 2 18,192, N $ 1,606.100 492, 812, 5 1 305,,IN
Bonds AOer627M2
8 Contactery Sices -Financial F. 9=010 6n'JW2019 Hanell a Company W14 Bonds Dircosure/Rating Meged//Merged 2 15, N s 1,500 S -
Advhas
6,1 Contract Services-Rebate Foes W42010 8130/2018 VAlldan Financial Sec rve 20 s 14 Sonde fte0ete ConeuNng Mege01/Merged 2 15, N $ - S -
Caiculetlon Serao s
65 Bond Trustee Fees Fees W192014 9111213 US Bank 2014 Binds Trustee Fees Me ed1/Me 2 60 N s 2750 27 $ 2750
66 2014 Subordinate Tax Allocation Reserves 9/1912014 Wwood US Bank Reserve for September 1 Debt Metgedtl Merged 2 W5, N 5 505,000 s -
Bofde Service
70 LRPMP PnopeNes Property Mertllenalce 7/12016 61302020 To be determined Maim ananbe Costs pin Agency Nerd Margetlll Merged 2 20. N $ 62M 3,1 $ 3,100
Property pending D'
71 LRPMP Properties Properly Dispoe4bns 71WO16 6/302020 To be delerromed Cosh for Deposition of Agency Held Megedtl Merged 20 GM N E 11600 5,80C 5800
Property-Appraisals,Fencing.
Cl.. Costa etc
72 AWance for the City for Cork& Property Maintenance 111/016 7 City a Palm Spnngs 80 Y
Bottle Building Electric RewlMg and needs repair before sae;a le
rxs,umbs!by atenanl
09
Palm Springs Recognized Obligation Payment Schedule)ROPE 17.18)-ROPS Detail
July 1,2017 through June 30,2018
(Rel ort Amounts in Whole Dollars
A B C D E F G H I J K R $ T U V W
17-188 Janus -June
Fund Sources
Contract/Agreement ContracVA9reement Total Outstanding ROPS 17-18 17-188
Item Y Project Name/Debt Obligation Obligation Type Execution Date Termination Date Payee DescripfionlProact Scope Protest Area DeM or ONgatlon Retired Total Bond Proceeds Reserve Balance O81er Funds RPTTF Admin RPTTF Total
$ fill 091665 S 6,696,723 - S - S 2482 946 III 1 000 $ 2 607 946
2007 Tax Allocation Bonds Series Bonds Issued On or Before W1812007 9,112034 US Bank Cantral Praiacts Merged 1 18959812 N 96 226 W261 30261
2007 Taxable Tax Allocation Bonds, Bonds Issued On or Before 911812007 Wi[W I US Bank Property Acquisition Merged 1 2.91 1 N $ 175,452 W. $ 56,60
Saves B 12131110
4 SERAF Loans SERAF/ERAF 4/20/2010 6r302037 Palm Springs Housing Loan.for FY 2MI10 and 20101f 1 Merged 1 EN
$ $
Successor SERAF Payments
Housing Deferral Repaylnent LMIHF Loans ifiLM996 &302037 Palm SPogs Housing Pre-1986 Set Aside Defamer Merged 1 Ni $ 803,126 g
successor
62004 Corven$bn CW.Bm M 111112D34 loConventlon Merged 7ContractSemces -Financial Fees 92212910 613&2019 Hafted A Company Merged 1 Bands Disclosure/Rating Merged 1 32, $ 1,700 t) $ 1]0Advisors
8 Combed Servces-Rebate Fee. &4R0111 &3=17 Wllan Financial Services Merged 1 Bonds Rebate Consulting Merged 1 16, $ $
Calculation Services
Bond Trustee Fees Fees 61162004 fill 31 US Bank Merged 1 Bonds Trustee Fees merged1 70 N 3,300 $
11 Dispoaikon and Development Business Incentive 1215Y21105 91172022 Endure Investments Financial Assistance(10 Yew) Merged 1 7010.000 N $ 14p,000 $
leement A r..nis
/2 Owner Participation Agreement Business Incentive 111921Xq ermul8 VIP Motors Financial Assistance Modest 1 Y $ - $
Agreements
1520D7 Taxable Tax Allocation Sands. Bonds Issued On or Before 9I1&2pm &12034 US Bank Progeny Acquisition Merged 8,577.616 N $ 518,W2 True. $ 171,65
$ergs C 12/31/10
16A raementWReimbursement Miscellaneous 12/62006 6I3012037 C d Palm PSL-2W Lease Mee etl2 3,773.398 N S 135.181
17 2001 BandReimbunsamenl 1111 to Convention Merged 2 N
Agreeme
18 Contract Services -Finantial Fees 9l22!2010 6,3012019 HarrelA Company Merged 2 Bolds Disclos:rs lRating Merged 2 38 50 N S 1,500 1 50C 1,500
Aci t501a
20 Bond Trustee Fees Fees 6116,20)(04 111112034 US Bartle Mended 2 Bonds Trustee Fees Merged 35 000 N $ 1650 $
25 Contract Services Audit Admin Costs 41521 52012017 Lance Sol A Lurmham Audit Services Mer Still Merged!2 Y g $
26 Contract Services-L al Admin Costs 1112,Z05 Stttl 017 WOodNR6 adlM general Legal Counsel Me i Maigrecl 2 Y $ $
27 Contract Services -Financial Admin Costs 711012008 &3W 019 Hamel A Contrary ROPS Consulting Mergetll/Merged 2 Y $ $
Adyncer
33 Adm:nisualrve Cost Ar...nce Admin Costs 7112016 &3&2017 City Ol Palms rills OVerlread Coat Allocation/Serenest Merced1/Mer ed2 4375000 N $ 250,000 12500 $ 12500
34 Loan LMIHF Loans 55/1998 F101g Nb.1 Merged 1 24,503 N 24,603
Successes
35 Agreement for Reimbursement GlylCo1) loan(Poor 1&1&1991 11112035 City Waof Paim Springs Project Cosb Merged 51,770 N 51,770
0&2Cou.Omer Wastewater Forst
36 Agreement iw Reimbursement W2&11) Loan(Poor t011611991 1111/2035 C,t,ofWaste Palm Springs Project Costs Merged 51.770 N 51,770
0&2Cou Omer City
Pater Fund
3)Agreem�ntfor Reimbursement 06!2W1 unty Loan(Prior &22J1993 1111 f2035 City of Palm Springs Protect Coats Merped2 98,080 N 98.080
0&2Cou.Omer W City
Farm Fund
38 G7 Lbdn and Interest City/County Loan(Piton 6115/2011 11/12035 Got of Palm Springs Operating and Administrative CO 1 2,228,012 N
O6rz&11) Other For FY 2(I1 1-12
39 City Loan and 1 ,,V.%.,.. City/Caurty Loan(Prior &t 11112035 Cdy of Palen - ii 2 _ N
Other
40 City Loan anti Interest Ony/Oounly Loan(Prior 6/152011 1111,2035 Cry of Palm Sprigs Operating and Administrative Cosb MergedllMerged 2 1,845,7W N S - $
00/28/11) Other For FY 2010-11
41 Agreement for Reimbursement Gty/County Loan(Prior 12I620W 1111/2m city of Palen Springs Prepay Portion of PSL 236 Merged2 1,184,791 N s 200,280 s
06/2&11 Omer Suslearnability,Fund
43 2007 Tax Alkxatpn Bards.Be.. Reserves 91162007 91112034 US Band Reserve for September 1 Debt Merged 1 642,61 N $ 642,613 642,613 $ 642,61
A Be".
N 2007 Taxable Tax Allocation Bonds, Reserves 9/162007 9112034 US Bank Reserve for September 1 Debt Merged 1 121, N $ 121605 121, $ 121,W
Series B Service
4612007 Taxable Tax Alkrradon Bonds, Reserves 911A2g07 W112OU US Bank Reserve for September 1 Debt Merged 2 356, N $ 356,655 356, $ 356,65
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 R R 6 T U V W
17-188 Janus -June
Fund Sources
ContractfAgreement CmtractlAgreemerd Total Du vNwd rtg ROPS R-18 17-16B
Item# Project NamelOebt Obligation Obligation Type Exervtim Date Termination Dale Payee DescriptionlProjed Scope Project Area Debt or Oblgalron Retired Total Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Total
$ 66 091665 S 6 696 723 S - S - $ - S 2 482 946 S 125.000 $ 2 607.946
48 Properly Tax-Corks Bottle Property MalMenance 7112013 6I302019 County of Rverside Property Taxeson Agency Held Land Margedt 3,03C N $ 3,000 150 $ 15
Property Pending PMP-Current installment
50 Property Tax -PSL 236 Property Property Mairdenance 7/1M13 6/3012037 County of Riverside Properly Taxes on Property Under Merged 2 211,01 N S 9,000 4.9N $ 4,5
PSL 236 Lease-Current Instakment
56 Utilities Property Maintenance 7IMM 61 017 Desed Walter U61Nes fen Agency Held!Properly Merged 2.DX N $ 2,000 1.DX $ 1,
ftnchna PMP
5]Plaza Invesanenl Lease Property Maintenance 7I30/2003 5lJ1201B Plaza Investments Lease of property adjacent W Plaza Merged 1 % N $ 9,900 4,50 $ 4,5
Theabe used for access
6 2014 SuborOkiafe Tax Alocation Refunding Bads Issued W1912014 &/2034 US Bank Refinancing at 2001 and 2004 Bads Mergedll Merged 2 16,ig2,000 N $ 1,606,100 300,7 $ 300,70
Bonds After WV12
63 CrxWatt Services-Financial Fees 9222010 8I302019 HarreCarrolllt sCarroll N14 Bands Disclosure mating Mergelif Merged 2 15, N $ 1,500 1, S 1,5
Advisor
64 Con4act Services-Rebate Fees 614 10 63 16 WN vices dan Financial Ser W14 Bonds Rebate Consulting Mergedll Merged 2 15, N $ S
Calculallon Services
b Bond Trustee Fees Fees WIM014 9112034 US Bank M14 Bonds Trustee Fees Me sell Me 2 BID. N $ 2750
X114 Subordinate Tax Allocation Reserves 6I162014 9/1/2034 US Bank Reserve for September 1 Debt Mergecil l Merged 2 505, N S 505,000 SDS, $ 505,00
Balls Sendee
]0 LRPMP Properties Property Maintenance 7I12016 SQUM20 To be detemtined Maintenance Costs on Agency Held Mergedtl Merged 2 20, N $ 6,200 3,1 $ 3,10
property Fard,ng M.peaften
71 LRPMP properties Property 0lapo&tlons 7112016 61=020 To Be determined Costs for Disposbon of Agency Had Men,011 MergM2 20 OW N $ 11600 5 80C S 5,
Property-Appraisals,Felxdng,
Clasi COMB etc
72 Advanre CakB Property' tnR0t6 t ti Gy of Palm Springs 6U Mergedl V
Bottle Duane,Electric Rewmn9 and r-B ;ke
accu red
11
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 1
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(01101/16-06/30/16)
1 Beginning Available Cash Balance(Actual 01/01116)
1,046,665 1,333 - 7,000 48,836 69,259
2 Revenue/Income(Actual 06130/16)
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 06130116)
RPTTF amount retained should only include the amounts distributed as Col G-Amount shown on 16-17A paid from
Other Funds available from 15-16A;Col H-PPA
reserve for future period(s) from 15-16A of$3,759 plus$1,177,815 reserve
'.341 1,181,574 for bond payments in 16-17A
5 ROPS 15-16B RPTTF Balances Remaining
No entry required
14,634 rCol
l H-PPA from 15-16B
6 Ending Actual Available Cash Balance
CtoG= (1 +2-3-4),H=(1 + 2-3 -4-5)
$ - 5 - $ - $ 1,659 5 34,027 S - F+ CoIG=$35,686-a I toE0in17-18
1Z
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
13