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Home My WebLink About24035 RESOLUTION NO. 24035 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS, CALIFORNIA, ACTING SOLELY IN ITS CAPACITY AS THE SUCCESSOR AGENCY TO THE CITY OF PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY, AND IN ITS CAPACITY AS THE HOUSING SUCCESSOR AGENCY TO THE CITY OF PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY, APPROVING THE SUCCESSOR AGENCY AND HOUSING SUCCESSOR AGENCY BUDGETS FOR FISCAL YEAR 2016-17, AND OTHER SUCH MATTERS AS REQUIRED. WHEREAS, in accordance with the provisions of the California Health and Safety Code Section 34173, the City Council of the City of Palm Springs has been designated and has accepted such designation of Successor Agency to the Community Redevelopment Agency of the City of Palm Springs to carry out the purposes of and exercise the powers granted to Successor Agencies; and WHEREAS, pursuant to California Health and Safety Code Section 34176, the City Council opted to retain the housing assets and functions previously performed by the Community Redevelopment Agency, serving as the Housing Successor Agency to the Palm Springs Community Redevelopment Agency, and WHEREAS, pursuant to City Charter Section 903 the City Council conducted a duly noticed Public Hearing with respect to the Fiscal Year 2016-17 Budget; and WHEREAS, the City Council has examined said budget, and considered all written and verbal public comments, and after due deliberations and consideration, made any such amendments in the preliminary budget as it considered desirable, and WHEREAS, pursuant to City Charter Section 904, the City Council desires to adopt the Budget for Fiscal Year 2016-17. NOW THEREFORE THE CITY COUNCIL OF THE CITY OF PALM SPRINGS DETERMINES, RESOLVES AND APPROVES AS FOLLOWS: SECTION 1. The City Council, as the Successor Agency's governing board, has established and approved the Recognized Obligation Payment Schedule (ROPS) for the period of July 1 , 2016, to December 31, 2017 (ROPS 16-17A) in the form attached to this Resolution as Exhibit A, which serves as the Fiscal Year 2016-17 Budget for the Successor Agency. SECTION 2. The Successor Agency hereby recognizes that the ROPS serves as the budget document for the Successor Agency during the designated operative period and appropriates funds as identified, and that the adoption of the ROPS 16-17B by the Successor Agency Board for January 1, 2017, to June 30, 2018, by the Successor Agency, and its approval by the Oversight Board, shall constitute the adoption of the Resolution No. 24035 Page 2 Successor Agency Budget for the second half of Fiscal Year 2017-2018 without any further action by the Successor Agency. i SECTION 3. Any changes to the ROPS, clawbacks, adjustments, or similar changes to the amounts payable from the Redevelopment Property Tax Trust Fund (RPTTF) or other sources, to the Administrative Cost Allowance required by the Oversight Board, the Riverside County Auditor-Controller, or the State of California Department of Finance, shall constitute an approved amendment to the Successor Agency budget without further action by the Successor Agency. SECTION 4. The Successor Agency and Oversight Board have approved the Administrative Budget for the Successor Agency during the designated operative period and appropriated funds as identified. The Successor Agency Administrative Budget for the period July 1, 2016 to June 30, 2017 is as follows: Successor A encv Personnel 40000 Regular Employees 183,260 41450 Telecommunication Allowance 258 41600 PIERS Contribution 47,418 41700 Medicare 2,551 41900 Fringe Benefits 16,255 41930 RHS Health Benefit 258 TOTAL Administrative Budget 250,000 Note: The Administrative Cost Allowance, in an amount not to exceed the lesser of 3% of the Successor Agency's other enforceable obligations, or$250,000 per year, is included on the ROPS. SECTION 5. The City Manager is hereby authorized to pay any demands of the State of California Department of Finance in Fiscal Year 2016-17 pursuant to AB X1 26, as amended, and such demand shall constitute an approved amendment to the Successor Agency budget without further action by the Successor Agency Board. SECTION 6. The City Manager and City Clerk are hereby jointly authorized to execute any professional services agreement or othercontract specifically included or to be included in an approved ROPS or the Fiscal Year 2016-17 Budget so long as such contract does not exceed the amount so funded. The authority to enter into agreements pursuant to this provision shall be deemed complementary to and consistent with the authority to enter into contracts provided in City Council Resolution No. 20271. SECTION 7. The Director of Finance is authorized, at the end of Fiscal Year 2015-16 through the closing of the accounting records for each such fiscal year, to make and record appropriate interfund transfers and fund balance transfers to appropriation accounts as required to properly account for and balance activity accounts, programs and funds, prior to the completion of the fiscal year audit. SECTION 8. In retaining the responsibilities of the Palm Springs Community Redevelopment Agency as provided in California Health and Safety Code §§ 34173 and 34176, the City Council expressly determines, recognizes, reaffirms, and ratifies the statutory limitation on the City and the City Council's liability in retaining the Resolution No. 24035 Page 3 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. 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 151 DAY OF JUNE, 2016. David H. Ready, anager ATTEST: es Thompson, City Clerk CERTIFICATION STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss. CITY OF PALM SPRINGS ) I, JAMES THOMPSON, City Clerk of the City of Palm Springs, hereby certify that Resolution No. 24035 is a full, true and correct copy, and was duly adopted at a regular meeting of the City Council of the City of Palm Springs on the 15` day of June, 2016, by the following vote: AYES: Councilmember Foat, Councilmember Kors, Councilmember Roberts, Mayor Pro Tern Mills, and Mayor Moon. NOES: None. ABSENT: None. ABSTAIN: None. s►r�.aa� es Thompson, City Clerk ity of Palm Springs, California oL�IG�Zo�L 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: LL 1 5A eft i re-, Pursuant to Section 34177 (o) of the Health and Safety code, I hereby certify that the above is a true and accurate Recognized Name Title Obligation Payment Schedule for the above named successor �(� agency. �s� Signature Date Palm Springs Recognized Obligation Payment Schedule(ROPS 16-17)-ROPS Detail July 1,2016 through June 30,2017 (Report Amounts in Whole Dollars A F B O D E F G H I J K L M N 0 P O 16-77A NomRedevgapmem Property Ten,Trust Fund NomRPTTFj RPTTF ContractrAgreemem ContractlAgreement Total Outslandng 1&17A It.. Prged NamelDeM Obligation Obbganon Type En,ecusi Data Termination Date Payer DesCnpti.mProject SCope Project Area Deb[or Otii9atian Retired ROPS1&17TOtA Bond Proceeds Reserve Balance Other Funds NamAdmin Amin Total f 10701294 $ 5.539644 $ - f - S 23,111 $ 2921,459 S 125000 $ 3.W9,570 2007 Tax Alo esta n Bonds Senes Bonckl esuea Cn or Before 9/162007 9f12034 IUS Bank Ca lal Pro'eds Mantras!1 20 204 8 N 2007Taxable Tax Alocation Bonds, Bondslssued Onor Before 91181 9/1/2034 US Bank Property Aoagsnion Merged 3,149,4 N S $ Sense 8 12/31/10 SERAF Loans SERAFJ2RAF 4202010 61302037 Palm Springs Housing Loans for FY 2009110 and 2010111 Merged 1.055.45 N $ 1,055457 1055457 S 1.055457 Successor SERAFP manta 5 Homing Deft"Repayment LMIHF Loans 1 1 729,543 _ 729.543 729.543 2004 Carverwan Center Bone Bond Reimbursement enbf2007 bu6on to Cone dui Agreements wan 1 I e Contract Services-Financial Fees 9=010 6202019 Harrel&Company Merged 1 Bonds Disdosure rRatmg Merged 1 34.20 N - $ 1,700 S - AM'sors Contract Services-Rebels Fees 6/42010 M=017 Minden Fini Services Merged 1 Bonds Rebate Comulting Merged 1 15.00 N $ 2.500 2. S 2.500 CalcdIation Services Bond Trustee Fees Fees 6/162004 11/12034 USBank Merged l So"Trustee Fees Merged1 70.00 N $ 37W 3.70 $ 3700 it DispacNon and DevNoDmen[ Business lnumive 12J52005 9112D22 Endure Investments Financial AssMance(10 Veer) Merged 840,00 N E 140.000 140,0 E 146W0 A reernenl Agreements 12 Ovmer Parropation Agreement Business Incentive 1I792000 6r3012018 VIP Motors Financial Assistance Merged 200,00 N f 200,000 $ Agreements 152007 Taxable Tax Allocation Bonds, Bonn Issued On or Before 9118,1 9/12A34 US Bank Property Acquisition Merged 9,461,80 N $ 1764m $ Sense 1wil10 / eementfor Rdmbureement Miscellaneous 12162006 61d02037 On,of Palms rin s PSL-236 Lease Mer ed2 4.263 8891 N $ 147470 147.47C $ 147470 mM.-:- ssisturni Agency Cahn 2 Center Earmir 1 Cormad SeMces-Financial Fees 9R22010 W02019 Hanell&Company Merged 2 Bonds Disdo ure/Ramr; Merged 30.130 N S 1,505 S - Adisors Bond Trustee Fees Fees 611WO04 1111CO34 US Bank Merged 2 Bonds Trustee Fees Mergi 35.00 N $ 1.900 1.90 S 1.90D Contract Services-PLdit Pdmin Costs 4/5QO10 6MOM17 Lance Sol &Lun herd Audit Services Mer ed7/Mer d2 161 N 1$ 6.000 6,00C S 6000 Contrad Services-L al Admin Costs 1/1220W 6202017 WaadMfSradin General Leal Counsel Mer d71 Merged 2 72.00 N $ gD00 9 S 9000 27 Contrad Service,-Financial Admin Casts 711820W 6202019 Harr ell&Company ROPS Consulting Mergedif Merged 2 144, N $ 4,000 4,00 5 4,000 Adeisars 33 Administrative Cost Arowance Admin Ccsts 7/112016 61302017 City of PalmSprings Overhead Cos:AlocatordSalanes Mergedrillilwili 4,625, N $ 250 COO 125000 5 125.000 34 Loan LMIHF Loans 516r1998 11/112W5 Palm Springs Housing Loan to Merged P,*d No.1 MeroadIFIESM Successor ` 35 Agreement for Reimbursement CitylCounty Loan IN., t0118l1991 1111R035 City of Palm Springs Pmjed Costs Merged 413500 NN 061 11,Other Wastewater Fund 36 Agnsurni for Reimbursement Cdy/Courty Loan lPnm 10/16/1991 1111RW5 City of Palm Springs Project Corm Merged 413500 N 0&2flr11.Met VJuteverter Fund 37 Agreementfar Reimbursement DtylCounty Loan Prior e22/1993 1111C035 City of Palm Springs Project Corm Merged 400000 N OB28111.Other V,Bsteenter Fund 38 City Loan and Inman C1ty/County Loan(Prior 6/152011 11112036 City of Palm Springs Operating and Administrative Casts Merged 1 1.553.913 N 0628/11.Dow For FY 2011-12 39 City Loan and Interest Dty/County,Loan tPrlor 6/152011 1191 City of Palm Springs 20116001= Merged 103250 N - W28l11 .ONer - hill _ 4D City Loan and Interest GIYICcunry Loan(Pr or 6I152011 11112W5 City of Palm Springs Operating and AdmiNatmtive Costs Ifergedl/Merged2 201111 N S $ - WR8111 ,Other For FY 201&11 41 Agreement for Reimbursement City/County Loan(Prior 1N 006 111IM35 Dry of Palm Springs Prepay Portion of PSL 236 Merged2 1,139,87 N $ - $ - W28/17 Other ISust.in.bbbir Furl 43 2(107 Tax Allocation Bonds..Series Reserves 9/i820W WI20M US Bank Reserve for September 1 Debt Merged 1 65981 N $ 650613 - $ - A Service 44 2007 Taxable Tax Alocetion Bonds, Reserves 9118207 9112034 US Bank Reserve for September l Dent Merged 118,64 N f 116647 S Series B Service 46 2007 Taxable Tax Alortnon Bonds, Reserves 9/182007 9/12034 US Bank Reserve for September i Dem Merged 345,41 N f 346,411` $ Series 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 B C D E F G H I J K L M N O P O 1647A Nori-Redevecpment Property Tax Trust Fund (Non42PTTFl RPTTF ContractlAgnu merit Contract/Agreement TOW Outstanding 1&17A Item l Project NameDebl Otligation Obligation Type Execution Date Termination Date Payee Descripion/Project Scope Projed Area Debt or Obligation Refired ROPS 16-17 Tote Band Proceeds Reserve Balance Mar Funds NOn-Admm Admin Total ,18 Property Tax-Cora&Battle Property Mantenance 7112D13 61302019 County of Riverside Property Taxes on Agency Held Land Merged 15 OU N S 4.000 2. $ Z-000— Property Printing PMP-Current Instalment 49 Property Tax-Cork&Bottle Reserves 7/112D16 6MQ017 County of Riverside Reservefor Next lnstalmentof Merged Y $ S Property Property Tax on Item 48 SO Property Tax-PSL 2W Properly Property Maintenance 7/12013 mo2037 County of Riverside Property Taxes on Property Under Merged 275,0010 N S 11,000 5.00 $ 5.000 PSL 236 Lease-Current Installment 1 51 Property Tax-PSL 236 Property Reserves 7/12018 81302D17 County of Riverside Reserve far Next Installment of Merged Y $ - $ Property To on Ilan 50 Plaza Trieste-Insurance Pooped,Maintenance 7/12016 6/M017 City of Palm Springs Imuranc,on Agency Held Property Merged Y $ - S Pending PMP 53 Plaza Theatre-Maintenance Property Maintenance 7112016 6r302017 City of Palm Springs Maintenance Cards on Agency Held Merged Y S $ - Property Pending PMP 56 Unites Property Maintenance 7112016 6r3012017 Deeart Weter Unities for Agency Held Property Merged l 2NC Y S 2,OW 1.00C $ 1,000 Pending PMP 57 Plaza Imestmenl Lease Property Maintenance 7902003 5/31/2018 Pima ImesMents Lease of Property adjacent to Plaza Merged 1 19,60 N S 9,700 4,111 66S S 4,800 Theatre used for access 622014 Subordinate Tax Alocelon Refunding Bume Issued Y192014 9/1/2034 US Bank Refinancing of 2001 and 2004 Bonds Mergedl/Mergetl2 20,309,1N N $ 1,129,800 ON.200 S 809,200 Bonds After 62]/12 63Conbact Services-Financial Fees 9222010 8/3o2019 Heard!&Company 2014 Bonds Disclosure IReang Mergedl/Merged 2 30,00 N $ 1.500 $ A Iiiors 64 Contract Service,-Rebate Fees 6/42o10 6r1A2016 VAIdan Financial Samoa, M14 Bonds Rebate Consulting Mergedl/Merged 2 15,00 N $ - § Calculation Service, 65 Bond Trustee Fees Fees 811VA14 91112034 US Bank 2014 Bands Trustee Fees M,rmdll Merged 2 6000 N $ 3000 30V S 3000 68 2014 Subordinate Tax Alocation Reserves SARM14 9/1/2034 US Bank Reserve for September l DeM Mergedll Merged 2 49250 N $ 492.500 § Bonds Service 69 Capital Projects Sam Funded Project—Pre- 7111 15 6I302034 To be determined Remaining 2007 Series C Band Merged Y S $ - 2011 Proceeds 70 LRPMP Properties Property Maintenance 7/12015 MM020 To be determined Maintenance Costs on Agency Held Mergedl/Merged 2 25,0 N S 7,500 5, $ 5,000 Property Pending Disposirson 71 LRPMP Properties Property Dispositiors, 7/12018 MMO20 To be determined Costs for Dapostion d Agency Held Mergedl/Merged 2 25, N $ 15,ON 5,000 S 5,000 Property-Appraises,Fencing. Closainuo Casts etc 72 Advance for Me City for CoW& Property Maintenance 1/12016 11IM17 City of Palm Springs W year did building has unsafe wrong Merged M,M N $ tOp00 10TOOO S 10.000 Bottle Buldng Bect is Rewiring and needs repair before We;it is occuped by a tenant 73 N S $ 74 N S 75 N S S 76 N $ $ 77 N § $ 78 N § S 79 N § S SDI N $ $ 81 N S S 8 N $ $ 8 N S $ N $ S N $ S N $ $ a N $ S 88 N $ $ 89 1 N $ $ 90I N $ $ 91 1 1 N $ $ Palm Springs Recognized Obligation Payment Schedule(ROPS 1647)-ROPS Dotal July 1,2016 through June 30,2017 (Report Amounts in Whole Dollars) A B C 0 E F G H I J K R S T u v W 16.17E N.Rad.al.pmerd Property Tax Trust Fund NorvRPTTF) RPTTF CanbactAgreement ConlractlAgreement Told Outstancing 1&17B Item# Project Name/Oebt ONi9ation Obligation Type Doccution Date Termination Oats, Payee DescriptionwProject Scope Project Area Dent or Obligation Roved ROPS16-17Total Bond Proceeds Reserve Balance Otller Funds NonAdmin Admin Total $ 107971294 $ 5.539,644 E - $ - s - E 2.345.074 $ 125.000 $ 2470074 2007 Tax Allocation Bonds Sense BondsIssued On or Before SPIWC07 9112034 Bank 'e Man d1 20204.65 N 21107 Taxable Tax Allocation Bonds. Bona Issued On or Before w1a720W 9/12034 US Bank Property Acquisition Merged 3,149,43 N s $ Sense 8 12/31/10 SERAF Loans SERARERAF 4202010 W02037 Palm Son.,Housing Loans for FV 2009110 and 2C 10r11 Merged 1,055,457 N f 1.055,457 E Successor SERAF Pa'merfs .Loam Sponge H...me Pre-1988 Set Aside Deferral Me 1, w 'Carnehlan Carder Bongs Ban Raimbu of Pelm SPnn➢a Agency Contribution to Cameroon 27 A reammde .0 Center Expansion QM Conlrac[Services -Finaneal Fees 9222010 &3ol Harrell&Company Merged Disclosure Margetll 34,20 N E !17 1]0 § 1,]0Advisors Conhact Semces-Rebore Fees 6l4201D 6'302017 Nllltlan Flnaneiel Services Merged 1 Bonds Rebate Consulting Merged 1 15,00 N E - § Calculation Services BondTrusteeFees Fees 6/162001 11/120M US Bank Mer ed 1 Bonds Trustee Fees Me etl 1 70 N $ s 71 Disposition and Development Businessincantive 12/52005 9/12022 Endure lnvestmems Financial Assistance pOYeaq Merged 840,00 N s 740,000 E reement Agreements 1 Omer Participation Agreement Business Incentive 1/192000 eG02018 OAP Motors Financial Assistance Mergnt 200.00 N $ 200.000 200.D00 $ 200.00 Agreements 1 2007 Taxable Tax Allocation Bonds. Bonds Issued On or Before 9111l SM2034 US Bank Property Acquisition Merged2 9461,60 N $ 176.407 176.407 $ 176.40 Serie;G 12131/10 'C Agreement for Reimbursement Miscellaneous 12620% 63012037 City of PalmFennel PSL-236 Lease Mer ed2 4.253.88 N $ 147470 S 172004 Conxisolo Cents,Bonds Bond Reim 662007.- Cityof P.ImB nay CanMbutlantr Cd "Merged2 mmerl� x`' enter Fix roan 18 Cemrsct Services-Finannal Fees 9222010 W02019 ,p Harrell&Company Merged 2 Bonds OisdxurerRatmg a Merged 30, N $ 1.500 1 50C S 150 Advisors 20 Bond Trustee Fees Fees 6/111 ll/12034 US Bank Merged 2 Bonds Trustee Fees Merged 2 35.0 N $ 1900 $ 25 Contract Services-Audi Adman Costs 4/52010 61302D17 Lance Sol&Lun hard Audi Services Mi Merged2 162,0 N s 6,000 S 26 Conhact Services-Le I Adman Costs 1/722005 6/302117 Woodruff 5 radin General al Coured Mar 31/Mer d2 720 N $ 9.000 S 27 Contract services-Financial Admin Costs TAW008 G/302D19 Harrell&Company ROPS Coosuling Mergedll Merged 2 144,00 N $ 40M g Aalaora _ 33AdmenistrAive Cost Allowance Admin Casts 7112016 670201I Ci cf Palm$ rir. s Overhead Cos[Allocetion(Salar as Mergedll M,emed 2 4625.0 N $ 250.000 125 OCC S 125.00 34 Loan P2W 5 Palm Spdngs Housing Loan to Merged Preplilliffie,i Merged 1 Sucttaaw 35 Agreement for Reimbursement City/County Loan(Prior 1011611991 11/12035 City of Palm Springs Project Costs Merged 413,500 N Ce26/11).Other Wastewater Fund 36 Agreemwdfor Reimbursement Clty/Coudy,Loan lPdof 10/1611991 11/12035 City of Ptlm Spring. Project Coals MefWd2 413.Son IJ C628/11),Other Wastewater Fund 37 Agreementfar Reimbursement Clty/County,Leon(Prior 62 190 11/12035 Cry of Palm Springs Project Comb Merged 400.000 N 0628/11 Other Wastewater Fund 38 City Loan and Interest CitylCounty Loan(Pn0r 81152011 11112D35 City of Film Springs Opemtin➢and Administrative Casts Merged 1553.913 N 062 ll),Other For FY 2011-1 39 Coy Loan and Interest Lawn(Prior eyt _ 11/12= CM of Palm Springs O eCosts Merged2 103.250 N " 40 City Loan and Interest Cdylcounly Loan IPro, 61152011 1 ill2035 City of Palm Spnngs Operating and Adminla oWe Co N sts ergsdl/Merged 2 2,011185 N 1i - $ 0628/11 Other For FY 2010-11 41 Agreement for Reimbuniement City/County Loan(Poor i2A2D06 11/12035 City of Palm Springs Prepay Portion of PSL 236 Merged 1.139872 N $ § 0&28/11).Otiter Sungari Fund 43 2007 To.Alocation Bonds,Series Reserves 9118/2007 9/12034 US Bank Reserve for September l DeN Merged 659 613 N $ 659.613 659613 $ 659,61 A Service 44 2007 Taxable Tex Placation Bonds. Reserves W182007 R(Wo4 US Bank Reserve for September l Cain Merged1 118,64 N E 11Q647 116.84] 3 118,64 Sod"B Service 45 2007 Taxable Tax Allocation Bonds. Reserves 9/18,2007 9/12034 US Bank Reserve for September l Debt Merged 346,407 N f 346,407 346.407 E 346,40 SedesC Service Palm Springs Recognized Obligation Payment Schedulee{ROPS 15-17)-ROPS Detail July 1,2016 through June 30,2017 (Report Amounts in Whole Dollars A B C D E F G H I J a R S T U V W 16-17B NonRedevdopmenl Property Tax Trust Fund (Non-RPTTF) RPTTF CarnrectlAgreement ContreNAgreemert Total Outstanding 16-179 Item# Protect Name/DeM Obligation Obligation Type Execution Date Terminston Date Payee DeacxiptiovRfotect Scope Protect Area Debt or OHigatian Reared ROPS 16-17 Total Band Proceeds Reserve Balance Other Fund: Nan-Admm Admcin Total AS Property Tax-Cork B Bottle Property Maintenance 7H2O13 &302019 County of Riverside Property Tax.on Agency Held Land Mergedl 15,00C N s 4,000 Z000 2.00 Proet, Pandmg PMP-CumeM instapment 49 Property Tax-Cork B Bottle Reserves 7/12016 B'302017 County of Riverside Reserve for Next lnstalmera of merged Y $ E Property Pro pen Tax on Item 48 50 Property Tax-PSL 236 Property Property Maintenance 711*013 6202037 County of Riverside Property Tun on Property Under Mergetl2 275 ON N E 11,000 _ BOW $ 6.00 PSL 2W Lease-Current Instas mend 51 Property Tax-PSL 236 Property Reserves 711 2O16 6/302017 County,of Riversitle Reserve for Next Instalment of Merged Y $ - $ Roperty Tex on Item 50 52 Plaza Theatre-Insurance Property Maintenance 7112016 6 112017 City of Palm Springs Insurance on Agency Held Property Merged Y $ $ Pending PMP 53 Rua Theatre-Maintenance Property Maintenance 7/12016 6r302017 City of Palm Springs Maintenance Cash on Agency Held Merged Y $ $ Property Pnd.o PMP 56 Latin Property Maintenance 7/12016 MM017 Desert Water UHlaes for Agency Hard Property Merged 2,00 Y E 2.OD0 1,00C $ 1,13M Pending PMP 57 Raza Im,uhnert Lease Property Maintenance 7/302003 51312D18 Plazal,m,utmenh Lease of property acoacent to Raza Merged 1 19.60 N $ 9,71Y) 490 f 4,90 Theatre used for ecce. 622014 Subordnate Tax Allocation Refunding Bonds Issued 8/192014 9112034 US Bank Refinancing of 2001 and 2004 Bonds Mergedif Merged 2 20,3W,iW N $ 1,/29,6W 3204W $ 320, Bonds After 627112 Tambov!Services-Finance Fees 9222ola 613OV2019 Harrel B Company 2014 Bonds Diadosure/Rating Mergedl/Merged 2 3DO01 N f 1.5D0 1,50C E 1,50 Advisors 64 Contract SeMces-Rebate Fees 6/42010 &302016 Wildan Financial Services 2014 Bo ds Rebate Carediang Merged'U Merged 2 'SON N $ f Calculation Servic. 65 Band Trustee Fees Face 8/192014 &12034 US Bank 2014 Bands Trustee Fees Mer dlt Merged 2 600 N f 3DW $ 2014 Subordinate Tax Allocation Reserves 8/192014 g/12o34 US Bank Reserve for September l Debt Mergedl/Merged 2 492 50C N $ 492,500 492.BOO f 49Z500 Bands Service 69 Capital Projede Bond Funded Project—Pre- 7112015 WO2034 To be determined Remaining 2007 Series C Band Merged Y $ E 2011 Proceeds 7 LRPMP Properties Property Maintenance 7/12016 &302020 To be determined Maintenance Cosh on Agency Held Mergedl/Merged 2 25,0 N $ 7,500 2,50 E Z500 Property Pentln Dis lion 71 LRPMP PropeNas Property Dispositions ]/12016 6l302020 TO be dMerminetl Coats for pspostion of Pgerte/Hetl Mer9ed1l Merged 25. N $ 15.NO 10,W f 10,OFX Property-Appraises,Fencing, Closin Coat.etc /Mane for the City,for Cork B Property Maintenance 1/102016 1/12017 Crty,of Palm Springs SO year old bundling has unsafe"rng Merged 23, N $ 10,OW $ Boris Building Electric Rew ring and needs repair before sae;it is occupied by a tenant 7 N f 74 N f 7 N $ 7 N $ f 77 N $ f 7 N $ $ 7 N $ f 8 1 N $ f 81 N $ E 8 N $ $ 8 N $ E 84 N $ E 85 N $ E Be i N E i 87 N E E Be I N $ E 89 N E E 90 N E iE 91 N $ E 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 DDR RPTTF distributed as Rent, Non-Admin on or before on or after balances reserve for future grants, and Cash Balance Information by ROPS Period 12/31/10 01/01/11 retained period(s) interest, etc. Admin Comments ROPS 15-16A Actuals(07101115- 12/31/15) 1 Beginning Available Cash Balance(Actual 07/01/15) 1,042,886 1,324 1,127,077 1,525,175 95,841 2 Revenue/Income(Actual 12/31115) RPTTF amounts should tie to the ROPS 15-16A distribution from the County Auditor-Controller during June 2015 3,776 7 22.073 836,196 3 Expenditures for ROPS 15-16A Enforceable Obligations (Actual 12/31115) 127,077 1498.412 855,778 4 Retention of Available Cash Balance (Actual 12/31/15) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 7.000 5 ROPS 15-16A RPTTF Balances Remaining No entry required 3759 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 1 $ 65,500 ROPS 15-16B Estimate (01101116 -06/30116) 7 Beginning Available Cash Balance (Actual 01101/16) (C, D, E, G = 4+ 6, F= H4+ F4+ F6, and H= 5+ 6) $ 1,046,662 $ 1,331 $ $ 7,000 $ 48,836 $ 69,259 8 Revenue/income (Estimate 06/30/16) RPTTF amounts should tie to the ROPS 15-16B distribution from the County Auditor-Controller during January 2016 _ 21339,957 9 Expenditures for ROPS 15-16B Enforceable Obligations (Estimate Reserves for September 1 debt service 06/30/16) 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 Ending Estimated Available Cash Balance(7 + 8 -9 -10) $ - $ $ $ 7,000 $ 23,111 $ 3,759 Palm Springs Recognized Obligation Payment Schedule (ROPS 16-17) - Notes July 1, 2016 through June 30, 2017 Item # Notes/Comments 70 Includes reimbursing City of Palm Springs for any maintenance or weed abatement costs in 15-16B 16-17A: Requested reserve for full September 1, 2016 payment in 15-16B which will be shown as an expenditure in 15-16B because transferred to trustee in 15-16B 2, 3 & 15 (new instructions), no expenditure for September 1 debt service shown from reserve in 16-17A 16-17A: Requested $468,676 reserve for September 1, 2016 payment in 15-16B which will be shown as an expenditure in 15-16B because transferred to trustee in 62 115-16B (new instructions); no expenditure for September 1 debt service shown from reserve in 16-17A