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Home My WebLink About23894 RESOLUTION NO. 23894 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 OBLIGATIONS PAYMENT SCHEDULE (ROPS 15-16B) FOR THE PERIOD OF JANUARY 1, 2016 THROUGH JUNE 30, 2016, PURSUANT TO SECTION 34169(g)(1) OF 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(1) 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 15-16B) for the period of January 1, 2016 through June 30, 2016, attached to this Resolution as Exhibit A, is hereby approved. SECTION 3. 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 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. Resolution No. 23894 Page 2 SECTION 4. 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 5. 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 2nd DAY OF SEPTEMBER, 2015. DAVID H. READY AGER ATTEST: MES THOMPSON, CITY CLERK Resolution No. 23894 Page 3 CERTIFICATION STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss. CITY OF PALM SPRINGS ) I, JAMES THOMPSON, City Clerk of the City of Palm Springs, California, hereby certify that Resolution No. 23894 was adopted by the Palm Springs City Council at a regular meeting held on the 2"d day of September, 2015, and that the same was adopted by the following vote: AYES: Councilmember Foat, Councilmember Hutcheson, Councilmember Mills, Mayor Pro Tern Lewin, and Mayor Pougnet, NOES: None. ABSENT: None. ABSTAIN: None. L MESTHOMPSON, CITY CLERK City of Palm Springs, California lo� i4 � ZO1s Recognized Obligation Payment Schedule (ROPS 15-1613) - Summary Filed for the January 1, 2016 through June 30, 2016 Period Name of Successor Agency: Palm Springs Name of County: Riverside Current Period Requested Funding for Outstanding Debt or Obligation Six-Month Total Enforceable Obligations Funded with Non-Redevelopment Property Tax Trust Fund (RPTTF) Funding A Sources(B+C+D): $ 1,081,071 B Bond Proceeds Funding(ROPS Detail) 1,048,346 C Reserve Balance Funding(ROPS Detail) 7,000 D Other Funding(ROPS Detail) 25,725 E Enforceable Obligations Funded with RPTTF Funding(F+G): $ 2,405,457 F Non-Administrative Costs(ROPS Detail) 2,280,457 G Administrative Costs(ROPS Detail) 125,000 H Total Current Period Enforceable Obligations(A+E): $ 3,486,628 Successor Agency Self-Reported Prior Period Adjustmentto Current Period RPTTF Requested Funding Enforceable Obligations funded with RPTTF(E): 2,405,457 J Less Prior Period Adjustment(Report of Prior Period Adjustments Column S) (65,500) K Adjusted Current Period RPTTF Requested Funding(W) $ 2,339,957 County Auditor Controller Reported Prior Period Adjustmentto Current Period RPTTF Requested Funding L Enforceable Obligations funded with RPTTF(E): 2.405,457 M Less Prior Period Adjustment(Report of Prior Period Adjustments Column AA) N Adjusted Current Period RPTTF Requested Funding (L-M) 2,406,457 Certification of Oversight Board Chairman: I'AT/4 / I/ALJlkey , Vice e6 wyg Pursuant to Section 34177(m)of the Health and Safety code, hereby certify that the above is a true and accurate Recognized Name Tide Title Obligation Payment Schedule for the above named agency. Is/ Signature Date ATi T LeKK S ETAS 2 -1 Palm Springs Recognized Obligation Payment Schedule (ROPS 15-1613)- ROPS Detail January 1, 2016 through June 30. 2016 (Report Amounts in Whole Dollars) A B C D E F G H 1 J K L M N 0 P Funding Source Non-Redevelopment Property Tax Trust Fund (Non-RPTTF) RPTTF ContractlAgreement Contract/Agreement Total Outstanding Item 0 Project Name/Debt Obligation Obligation Type Execution Date Termination Date pay" Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds Non-Admin Admin Six-Month Total $ 110,307,378 $ 1048346 1$ 7.000 $ 25,725 $ 2,280,457 $ 125,D00 $ 3.486,528 2.2007 Tax Allocation Bonds Series P Bonds Issued On or 9/1842007 911/2034 US Bank Cap"[Projects Merced 1 20,864,262 N 12 309.601 $ 309.613 3 200]Tezable Tax Allocation Bonds, Bonds Issued On or 911812007 9112W4 US Bank Property Acquisition Merged 1 3.268.082 N 58,647 $ 58,647 Series8 Before 12/31/1a 4 SERAF Loans SERAFIERAF 412012010 fi13012037 Palm Springs Housing Loans(or FY 2009110 and 201 all Merged 1 1,055,456 N $ - Successor SERAF Pa menu . ; erRetrtrt!rt?rtt. .� ; f� wso/,(®�7 Bulttsp n�ps@lowlnit @reWaa�saSAsW Wbk% 7 Contract Services -Financial Fees 9/22/2010 6130/2019 Harrell&Company Merged 1 Bands Disclosure'Ratting Merged 1 35,900 N 41,800 S 1,800 Advisors 8 Contract Services-Rebate Fees 6/412010 613D12016 WJldan Financial Services Merged 1 Bonds Rebate Consulting Merged 1 15,00g N $ - Calculation Services 91 Bond Trustee Fees Fees 6/1612004 1IIIY2034 US Bank Merged 1 Bands Trustee Fees Merged 1 70,00D N $ 11 Disposition and Development OPA/DDAIConstructi 121512005 9112022 Endure Investments Financial Assistance(10 Year) Merged 1 840,000 N - $ - Agreement on 12 O veer Participation Agreement Business Incentive 111912000 61302015 VIP Motors Financial Assistance Merged 1 400.000 N 10,225 189,775 $ 200.000 Agreements 15 2007 Taxable Tax Allocation Bonds. Bonds Issued On or 91181207 9/12034 US Bank Property Acquisition Merged 2 9,648,208 N 10 18D,869 $ 18D,879 Series C Before 12131/10 16 Agreement for Reimbursement Miscellaneous 1216/206 6/302037 City of Palm Springs PSL-236 Lease Merged 2 4,263,889 N $ w 18mono Pit tiFSgPmNarl. a + a' t $ - a. 18 Contract Services -Financial Fees 9/22/201D 61302019 Harrell Company Merged2 Bonds Disclosure/Rating Merged 31,500 N 1.600 $ 1.600 Advisors 20 Bond Trustee Fees Fees 6/16/2004 11l1I2034 US Bank Merged 2 Bonds Trustee Fees Merged 2 35,000 N $ 25 Contract Services-Audit Admin Costs 6/5/2010 6130l2016 Lance Soil&Lun hart Audit Services Mer ed11 Merged 2 312,000 N 2,500 $ 2.500 26 Contract Services-Le al Legal 1/12/2005 6/3072016 Woodruff S radlin General Legal Course Mer will Merged 2 82,000 N 9,000 $ 9,000 27 Contract Services -Financial Admin Casts 7/18/2008 6I3012079 Harrell&Company ROPS Consulting Mergedil Merged 2 92,000 N 4,000 $ 4.000 Advisors 33 Atlministrative Cost Allowance Admin Costs 7/12015 ICdy of Palm Springs Overhead Cost Allocation/Salarier Mer edl l Merged 2 4,750,000 N 125,000 $ 125,000 i. ,. ^..t x^ t I a M r i* n ,{C Y $ _ i�C4, •Xl "4'1:: t7 {'. ) � ♦ T:`/'.i � {? I'�t 1 ', a F - 40 City Loan antl Interest CitylCounty Loans all 11112035 City or Palm Springs ` Operating and Administrative Costs Mergedl/Merged 2 2,011,785 N §On or Before 6127/11 For FY 2010-0 1 Palm Springs Recognized Obligation Payment Schedule (ROPS 15-16B)- ROPS Detail January 1, 2016 through June 30. 2016 (Report Amounts in Whole Dollars) A B C D E F G H 1 J K I. M N 0 P Funding Source Non-Redevelopment Property Tax Trust Fund Nan-RPTTF) RPTTF Cantract/Agreement ContractlAgreemend Total Outstanding Item# Project Name I Debt Obligation Obli aeon Type Execution Dafe Termination Date Payee Descri bonlProject Scope Pro act Area Debt or Obligate Retired Bond Proceeds Reserve Balance Other Funds Non-Admin Admin Six-Month Total 41 Agreement for Reimbursement City/County Loans 1216f20D6 1111/2035 City of Palm Springs Prepay Portion of PSL 236 Merged 2 1.139,872 N $ On or Before 6/27A1 Sustin.bilitv Fun, 43 2007 Tax Allocation Bonds,Series A Reserves 911812007 9/112034 US Bank Reserve for September 1 Debt Service Merged 1 309.613 N 309,613 $ 309,613 44 2007 Taxable Tax Allocation Bonds, Reserves 911912007 9/112034 US Bank Reserve for September 1 Debt Service Merged 1 58,647 N 58.647 $ 58,647 Series B 46 2007 Taxable Tax Allocation Bonds, Reserves 9/1812007 9/112034 US Bank Reserve for September 1 Debt Service Merged 2 340,879 N 340,879 $ 340,879 Series C 48 Property Tax -Cork&Bottle Property 7/1R013 6/30/2019 County of Riverside Property Taxes on Agency Held Land Merged 1 17.000 N 2,000 $ 2,000 Property Maintenance Pending PMP-Current lnstallmen 49 Properly Tax -Cork&Bottle Reserves 7112015 6130/2016 County of Riverside Reserve for Neff Installment of Merged 1 - N § Property Property Tax on Item 48 50 Property Tax -PSL 236 Property Property 7/112013 6/30/2037 County of Riverside Property Taxes on Property Under Merged 2 280,000 N 5,000 $ 5,000 Maintenance PSL 236 Lease-Current Installmem 51 Property Tax PSL 236 Property Reserves 7/112015 61300016 County of Riverside Reserve for Next Installment of Merged - N $ Property Tax on Item 50 52 Plaza Theatre-Insurance Property 711/2015 61302016 City of Palm Springs Insurance on Agency Held Property Merged 1 18,000 N 6.000 $ 6,006 Maintenance Pending PMP 53 Plaza Theatre-Maintenance Property 7/112 D 15 613012016 City of Palm Springs Maintenance Casts an Agency Held Merged 1 4,000 N 3,500 S 3,5D0 Maintenance Property Pending PMP 56 Plaza Theatre-Utilities Property 71l/2015 613012016 Desert Water Utilities for Agency Held Property Merged 5,000 N 1,000 $ 1,000 Maintenance Pending PMF 57 Plaza Investment Lease Property 7/3012003 513112018 Plaza Investments Lease ofproperty adjacent to Plaza Merged 24,400 N 4,800 $ 4800 Maintenance Theatre used for access 62 2014 Subordinate Tax Allocation Refunding Bonds 8/1912014 91112034 US Bank Refinancing of 2001 and 2004 Bonds Mergedl/Merged 2 20,670,800 N 339,200 $ 339,260 Bonds Issued After 6/27/12 63 Contract Services -Financial Fees 9222010 613012019 Harrell&Company 2D14 Bonds Disclosure Mating Mergedl/Merged 2 31,500 N 1,600 S 1,600 Advisers 64 Contract Services-Rebate Fees 614/2010 61302016 Miclan Financial Services 2014 Bonds Rebate Consulting Mergedl/Merged 2 14,250 N 4.250 $ 4.250 Calculation Services 65 Bond Trustee Fees Fees 8119/2014 911/2034 US Bank 2014 Bonds Trustee Fees Mer edtl Merged 2 60A00 N $ 66 2014 Subordinate Tax Allocation Reserves 811912014 9112D34 US Bank Reserve for September 1 Debt Service Mergedll Merged 2 470.000 N 1,324 468.675 ,$ 470,000 Bonds Ba Cap8slPfajeab. ImprwemarctAnfreatr 7/1/2015 6=034 To be determined Remabun92007 sales C Bond Merged 1,047,005 N 1,047,000 $ 1,047000 nature - `Orsini - 7D N $ 71 N $ 72 N $ 73 N $ 74 N $ 75 N $ 76 N $ 77 N $ 78 N $ 79 N $ 80 N $ 81 N $ 82 N $ 83 N $ Palm Springs Recognized Obligation Payment Schedule(ROPS 15-16B)-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 ti son how to complete the Report of Cash Balances Form,see INSERT I LINK TO 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 on and DDR RPTTF distributed as Rent, Non-Admin or before Bonds Issued on balances reserve for future Grants, and Cash Balance Information by ROPS Period 12J31110 or after 01/01111 retained periods) Interest, Etc. Admin Comments ROPS 14-15B Actuais 011I-06130/15 1 Beginning Available Cash Balance(Actual 01101115) 1,040,127 1,196 445 41,215 87.750 2 Revenuelincome(Actual 06130115) 02 and B3-Transfer mirror balances of$121 RPTTF amounts should tie to the ROPS 14-15B distribution from the from refunded bonds to refunding bonds trust County Auditor-Controller during January 2015 accounts;Cot G does not include 4th Qtr Interest 2,880 128 1,510,977 2,382,001 Allocation/to be provided when complete 3 Expenditures for ROPS 14-15B Enforceable Obligations(Actual 06130115) RPTTF amounts,H3 plus H4 should equal total reported actual expenditures in the Report of PPA,Columns L and Q 121 27,017 1.247.278 4 Retention of Available Cash Balance(Actual 06130115) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 1,042,886 1 324 1 499.450 1,126,632 6 ROPS 14.15E RPTTF Prior Period Adjustment RPTTF amount should tie to the self-reported ROPS 14-15B PPA in the No entry required Report of PPA, Column S 65,500 6 Ending Actual Available Cash Balance Col G will increase with foal 4th Qtr Interest C to G=(1+2.3-4),H=(1+2.3-4.6) $ - 1 $ - $ - S 445 $ 25,726 1 $ 30,341 JAIlocation when complete ROPS 15-16A Estimate 07101/15.12131/15 7 Beginning Available Cash Balance(Actual 07101116) (C,D,E,G=4+6,F=H4+F4+F6,and H=5+6) $ 1,042,886 $ 1,324 $ S 1,127,077 $ 1,525,175 $ 95,841 8 Revenue/income(Estimate 12131115) RPTTF amounts should tie to the ROPS 14-15B distribution from the County Auditor-Controller during June 2015 836,196 9 Expenditures for ROPS 14-16B Enforceable Obligations(Estimate 12131115) 1.127,077 1,499,450 866.537 10 Retention of Available Cash Balance(Estimate 12131MS) Col G-Retain$25.725 to apply in Col M ROPS RPTTF amount retained should only include the amounts distributed as 15-16B;Col G-will increase with final 4th Otr reserve for future perod(s) 1,.:42 885 1.324 25,725 Interest Allocation when complete 11 Ending Estimated Available Cash Balance(7+8.9.10) S - $ - $ - $ $ $ 65,500 Palm Springs Recognized Obligation Payment Schedule(ROPS 15-166)-Report of Prior Period Adjustments Reported for the POPS 14-15B(January 1,2015 through June 30,2015)Perod Pursuant to Health and Safety Code(HSC)section 34186(a) (Report Amounts in Mole Dollars) POPS 14-158 Successor Agency(SA)Self-reported Prior Period Adjustments(PPA):Pursuautto HSC Section 34186(a),SAS are required to report the differences between their actual available funding and their actual expenditures for the POPS 14-15B(January through June 2015)period. The amount of Redevelopment Property Tax Trost Fund(RPTTF)approved forthe POPS 15-16B(January through June 2016)period will be offset by the SA'a self-reported POPS 14-15B prior period adjustment.HSC Section 34186(a)also specifies that the prior period adjustments self-repoded by SAS are Subject to audit by the county auditor-controller(CAC)and the State Controller. A B C D E F G H I J K L M N O P O R S T Non-RPTTF Expenditures RPTfF Expenditures NO SA NonAdmin and Admin PPA (Amount used to Offset POPS 15.16B Bond Proceeds Reserve Balance Other Funds Non-Adrryn Admin Regyested RPTTFI Available Available Difference RPTTF RPTTF (if total actual (ROPS 14-158 Difference (ROPS 14-158 exceeds mtal dislnbuted a all other NO Lesser of Of K is less than L. distrib.eed+all other Net Lessef al authonxed,the Project Nam l available as of Authenzedl the difference is available as of Auffi.mcdI hotel dfarence is NN Difference It.0 Dett Obligation Authodzed Actual Ailhodaed Actual Aulhodzed Actual Auihodeed 0111115) Available Actual 2eml Authodzed 0111115) Available Actual Zero) IMa RI SACommenrs $ - $ - $ 5,800 S - $ 34.172 $ 27,017 $ 2,314,410 $ 2,314.410 S 2.314,410 $ 2248a10 $ Wade $ 125.one $ 1a ccm S ice' E 125000 $ - $ asset, 1 2004Tex Alocation - _ - $ - $ E 2 2007 Tax Alocatpn - 309.613 309.613 $ 309413 309.613 $ § 3 2007Taxabb Tax _ - 58.642 58.64] $ S8642 58.641 S - $ Alncalion Bonds, - sene.B 4 BERM Loan. E _ 5 Housing oafame - _ _ - a a Rea ant 3 6 200/Convention - _ - $ - $ $ center Bonds corned Services- 1 800 I5W $ 1,8010 1 7M 5 100 $ 100 Financial 8 correct services- Rebate Calculation S $ 3 9 Bond Trustee Fees - _ - $ - $ - $ 11 oispoznion and - _ _ - $ $ - Devalopment S nt 12 Owner Padidpabon - - 12.172 12122 197828 187828 S 187.828 158.968 $ 28 Bad $ 28860 Agreemani 13 Pacific Hoap¢ah, - _ _ _ $ _ $ $ utl ment 14 2004Tax Alocatlon - _ _ _ $ $ $ - Relundirg Banda. Series B 15 2002Taxable re. 155211 185211 S 185,211 185,211 $ 3 _ Alowlion Bands, Series C 16 Agreement for - _ _ _ _ $ $ _ $ Reimbursement $ - 12 2004 ve Conntion $ - S Center Bonds 19 Contrail S.Mces- 1 am 1800 $ 1,Bad 1.5e0 $ 300 $ 300 Rrancial 19 Contrail Services- _ r _Rebate Calculation S 20 Bond Trustee Fees - _ PP 21 2001 Housing Tax - _ - $ $Al...non Bonds $22 Conned Semces- - _ $Financial23 Lonved Services-Rebate C.SoulOmn $24 Bond Trustee Fees25 LOntrad 5emces- - - 9000 2.331 - $ A tlh26 Contrail Services- - 9000 9000Le ai - $ gContract Service.- 4000 3514 - S $ - INcudes PlP of 51193 at June 3D Financial Palm Springs Recognized Obligation Payment Schedule(ROPS 15-1613)-Report of Prior Period Adjustments Reported for the POPS 14-15B(January 1,2015 through June 30,2015)Period Pursuant to Health and Safety Code(HSC)section 34186(a) (Report Amounts in Whole Dollars) ROPS 14-156 Successor Agency(SA)Selfaeported Prior Period Adjustments(PPA):Pursuant to HSC Section 34186(a),SAs are required to report the differences between their actual available funding and their actual expenditures for the ROPS 14-158(January through June 2015)period. The amount of Redevelopment Property Tax Trust Fund(RPTTF)approved for the ROPS 15-1613(January through June 2016)period voll be offset by the SA's self-reported ROPS 14-15B prior period adjustment.HSC Section 34186(a)also specifies that the poor penod adjustments self reportedby SAS are subjeotto audit by the county auditor-controller(CAC)and the State Controller. A a C I D I E I F I G I H I I J K L M N O P q R E T Non-RPTTF Expenditures RPTTF Expenditures Net SA Non-Admin and Admin PPA (Amount Used to offael Raps 15-158 Bond Proceeds Reserve Balance Other Foods Non-Admin Admin Requested RPTTFI Available Available Difference RPTTF RPTTF (if total actual (ROPS 14-15B Difference (Raps 14-158 eo eele total distributed♦all otM, Net Leaser of IR K is less than L, distributed♦all other Net Lesser of authodaed,the Project Nam I volage as of authorized Me difference is evadable as of AuthodzedI total difference is Net Difference Items Dam obl M igation Auodzed Actual Authorized Actual Authorized Actual Authorized a 0111115) Available Actual zero) Authorized 0111115) Available Actual zonal IMaR) SA Comments 3 - E - § 5.Bw E - b S4,172 E 2],01] E 2,314,410 S 2314,410 E 2314,410 E 224a,910 § 55,Soo s 125.M S 125.oW E 125,000 S 125,W0 E - § 65$W 32 Lease/Sublease - _ _ § _ S $ nl 33 Admenstalive cost _ - - b 5 - § - A➢ow nce 34 Loan E S E 35 Agreement for - Relmhmrsemenl 36 Agreement for Reimbursement E 37 Agreement for - - _ - § - E _ Reimbursement S 38 Or,Loan ardl t E bInterest 39 Oiy Loan and _(.rest § EE 40 aty Loan and5merest41 Agreement for - - § bReimb m urseent42 2004TaxAjocakon - E E -Remndmg Bond.. E Series A 43 200]Tax Allocation - - 309.613 309.613 E 309,613 W9.613 E - $ Bonds,Series A 44 2007Taxable Tax - Re 647 58.647 E 58,647 53.541 $ § Allocation Bonda, Series B 45 2004 Tax Al..Oon - - E - $ § Refunding Bonds, Series B 46 2007Taxable Tax - - 340211 340211 § 340211 340.211 § b Allocation Bonds, Sens L 47 2001 Mousing Tax _ _ a $ _ b Allocation Bonds 49 Property Tax-Cork - 1400 - _ $ _ § - $ _ 8 a.m.Property 49 Property Tax-cork - - - 1 4W 1 ace b 1 400 S t 400 E 1,4M a acme Property W PropeM Tax-PST 4.400 - _ § _ b - E 36 Pro art 51 Property Tax-PSL - - - 4,4W 4400 E 4400 $ 44W S 44W zee pre art 52 Plaza Theahe- - - - 12000 12 W0 b 12,000 6W0 § 6. § 6000 insourancoo 53 Plaza Theatre_ _ - 35W 3,SW E 3500 3,500 b § _ Maintenance Palm Springs Recognized Obligation Payment Schedule(ROPS 15-16B)-Report of Prior Period Adjustments Reported for the ROPS 14-15B(January 1,2015 through June 30,2015)Period Pursuant to Health and Safety Code(HSC)section 34186(a) (Report Amounts in Whale Dollars) ROPS 14-158 Successor Agency(SA)Self-reported Prior Period Adjustments(PPAn Pursuant to HSC Section 34186(a),SAs are required to report the differences between their actual available funding and their actual expenditures for the ROPS 14-159(January through June 2015)period. The amount of Redevelopment Property Tax Trust Fund(RPTTF)approved for the POPS 15-16B(January through June 2016)period will be offset by the SA self-reported ROPS 14-16B prior period adjustment.HSC Section 34186(a)also specifies thatthe prior period adjustments self-reported by SAs are subject to audit by the county auditor-controller(CAC)and the State Controller. A B c I E F G H I I K L M N O P o R S T Non-RPTTF Expenditures RPTTF Expenditures Net SA Nan-Admen and Admin PPA (Amount used to Offset ROPS 15.168 Bond Proceeds Reserve Balance Other Funds Nan-Admen Admen Requested RPTTF) AVYlible Available Difference RPTTF RPTTF (lf toter actual (ROP51115B Difference (ROPS 4-158 exceeds later distributed+all enter Net Lesser f ID K is less than L, distributed!+all Other Net Lesser of authmlzed,the Protect Name ..lo ., as of a de as of Authorized the derivatives is table Authorized! total difference is Net Difference Item% Debt Obllgatlon Authorized Actual Authorized Actual Authorized Actual Authorized a 01/1115) Avrii Actual zero) Authorized 0111115) Available Actual zent IM+R) SA Comments S - $ - $ 5,800 b - $ 34,112 $ 27,017 E 2,314,410 E 2314410 $ 2314.410 b 2248.910 $ 65,500 s 125.000 $ Imam E 125,000 $ 12500n E $ 85500 56 Faze Theatre- - - - _ $ _ $ _ _ b Candling for Renovation 56 Plaza Theatre - 2000 2000 $ 2M am $ 134o Was. b 1.340 Indutles PlP paid Jdy for g137 57 Plaza Invealment - - - 4.800 4.800 $ 4son 4 son It - E Lea. 58 con flow Loan - - - RPTTF Wdhholdin 59 Cash flow Laanrs - _ _ _ $ $ _ - E %a Theatre 60 Cash flow Loan for - _ f E $ PMP Completion 61 Reimbursable Costa - § b 62 2014Submdirate - 390279 390.279 $ son279 390.2]9 a - § - Taa Allocation soma 63 Conrad S.,.bes- - 1500 1.500 $ 1.500 1 too $ 100 $ 101 Financial 64 cantered Services- - _ $ _ $ $ Rebate roso.circul Fee 65 Bond Trustee Fees - _ E g $ 66 20148ubord'rrete - 418161 41 B.161 $ 418161 418.161 $ - a examcafion Beres b DoeMayment 69 Advance from he 23000 23.000 $ 23,000 $ 23,000 $ 23000 City for Cod S BbMe Building Feddc Rewdi $ S It $ E $ $ E § $ S b E It $ $ $ E $ b S E $ $ Is a b S $a $ § E $ b E S g b S $ E S § b S g It S S It a s Palm Springs Recognized Obligation Payment Schedule (ROPS 15-16B) - Notes January 1 , 2016 through June 30, 2016 Item# Notes/Comments T -- - 64 'Includes final rebate calculation fees for the bonds refinanced with 2014 Bond proceeds - - -- - - 69 Bond Proceeds Expenditure Agreement submitted for approval; includes estimated interest earnings through Jan 1, 2016 I