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HomeMy WebLinkAbout9/17/2014 - STAFF REPORTS - 2.N. „ ?ALMS'. iy V N c City Council Staff Report FOR � DATE: September 17, 2014 CONSENT CALENDAR SUBJECT: Approval and Transmittal of Recognized Obligations Payment Schedule (ROPS 13-14B) for the Period of January 1, 2015 through June 30, 2015, Pursuant to Section 34169(g)(1) of California Health & Safety Code FROM: David H. Ready, City Manager BY: Community & Economic Development Department SUMMARY: Under the Redevelopment Dissolution Act (AB X1 26), the Successor Agency is required to approve a Recognized Obligation Payment Schedule (ROPS) every six months and submit to the County Auditor-Controller, the State Department of Finance, and the State Controller's Office. After review and approval by the City Council as the Successor Agency, the ROPS must be approved by the Oversight Board created and appointed under Section 34179 of the Health & Safety Code. This schedule covers the period from January 1, 2015 to June 30, 2015. The ROPS will be presented to Oversight Board on September 23, 2014 and submitted to the Department of Finance and County Auditor-Controller prior to the deadline of October 3, 2014. RECOMMENDATION: Adopt Resolution No. , "A RESOLUTION OF 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 13-14B) FOR THE PERIOD OF JANUARY 1, 2015 THROUGH JUNE 30, 2015, PURSUANT TO SECTION 34169(g)(1) OF CALIFORNIA HEALTH & SAFETY CODE” BACKGROUND: The ROPS is the document used to determine the amount of the previously-called tax increment the Successor Agency will be allowed to retain on a six month basis, as well as the amount of the Successor Agency's allowable administrative budget. A new ROPS must be adopted for each successive six-month fiscal period. ITEM NO. Successor Agency Staff Report Recognized Obligations Payment Schedule 13-14B September 18, 2013 Page 12 The form of the ROPS is prescribed by the State Department of Finance and used by the Riverside County Auditor-Controller's Office. Over the past two years, the Successor Agency and Oversight Board have approved the ROPS for each upcoming six month period, which then are submitted to the Department of Finance for review and approval. Jo n Ray o d, irector of Community David H. Ready Hager Eco is bdvelopment Attachments: 1. Recognized Obligation Payment Schedule (ROPS) Successor Agency Staff Report Recognized Obligations Payment Schedule 13-14B September 18, 2013 Page 12 The form of the ROPS is prescribed by the State Department of Finance and used by the Riverside County Auditor-Controller's Office. Over the past two years, the Successor Agency and Oversight Board have approved the ROPS for each upcoming six month period, which then are submitted to the Department of Finance for review and approval. Jo n Ray o d, irector of Community David H. Ready Hager Eco is D6velopment Attachments: 1. Recognized Obligation Payment Schedule (ROPS) 02 Recognized Obligation Payment Schedule(ROPS 14-15B)-Summary Filed for the January 1.2015 through June 30,2015 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): $ 39,972 e Bond Proceeds Funding(ROPS Detail) - C Reserve Balance Funding(ROPS Detail) 5,800 D Other Funding(ROPS Detail) 34,172 E Enforceable Obligations Funded with RPTTF Funding(F+G): $ 3,258,941 F Non-Administrative Costs(ROPS Detail) 3,133,941 G Administrative Costs(ROPS Detail) 125,000 H Current Period Enforceable Obligations(A+E): $ 3,298,913 Successor Agency Seti-Reported Prior Period Adjustment to Current Period RPTTF Requested Funding I Enforceable Obligations funded with RPTTF(E): 3.258,941 J Less Prior Period Adjustment(Report of Prior Period Adjustments Column S) (57,409) K Adjusted Current Period RPTTF Requested Funding(W) $ 3,201,532 County Auditor Controller Reported Prior Period Adjuatmentto Current Period RPTTF Requested Funding L Enforceable Obligations funded vath RPTTF(E)'. 3,258,941 M Less Prior Period Adjustment(Report of Prior Period Adjustments Column AA) N Adjusted Current Period RPTTF Requested Funding(L4Yp 3,258,941 Certification of Oversight Board Chairman: Pursuant to Section 34177(m)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 agency. is/ Signature Date Recognized Obligation Payment Schedule(ROPS 14-15B)-Summary Filed for the Jai ary 2015 through June 30,2015 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 Nan-Redevelopment Property Tax Trust Fund(RPTTF)Funding A Sources(B+C+D): $ 39,972 B Bond Proceeds Funding(ROPS Detail) - C Reserve Balance Funding(ROPS Detail) 5,800 D Other Funding(BOPS Detail) 34,172 E Enforceable Obligations Funded with RPTTF Funding(li $ 3,268,941 F Non-Administrative Costs CROPS Detail) 3,133,941 G Administrative Costs(ROPS Detail) 125,000 H Current Period Enforceable Obligations(A+E): $ 3,298,913 Successor Agency Self-Reported Prior Period Adjustment to Current Period RPTTF Requested Funding I Enforceable Obligations funded with RPTTF(E): 3,258,941 J Less Prior Period Adjustment(Report of Prior Period Adjustments Column S) (57.409) K Adjusted Current Period RPTTF Requested Funding(14) 6 3,201,532 County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding L Enforceable Obligations funded with RPTTF(E): 3,258,941 M Less Prior Period Adjustment(Report of Prior Period Adjustments Column AA) N Adjusted Current Period RPTTF Requested Funding(Lag) 3,258,941 CerlRcal on of Oversight Board Chairman: Pursuant to Section 34177(m)of the Health and Safety code,1 hereby certify that the above is a bus and accurate Recognized Name Tithe Obligation Payment Schedule for the above named agency. /s! Signature Date CGJ Recognized ODligardon Payment Schedule(ROPS 1F158)-ROPS MNA January 1,2016 through June 30,2015 (Report Pmomh in KMIe Oalars) A B C D E F O H I J N L Al N O p FuMir 9oura HwrRe maids m et Prepare,Tax Trust Fund Tod He PlTFI RP1TF CenVutlA9taxrtert Cm1ractlA9reement Outstanding Beat Reserve Hami Pre Nemel0ebt 061' *b1agaterolf,me E..Dere TermInNIOn DMe Pa a Des.riplionfiProjeel9co Prefect A. Obleaden RetirM BwMPmweds Balance Me,Funds Non#dmF AOmF Str#1on01 Total — If118515 H8 Se00 341)2 4 125000 3298,913 12014 Tax mron ReM6i Bonds lssuetl Onar 611 W4 Bankd New York MCBm ReNmce 19%Tar Nontion Bona uerfadt Y 2 2007 Tax Noc 6m Bmtic Se iea A Bende Issued On er 911N200] 9112034 US Bank C.mw Rolech Me,.d 1 21.70.100 N 30,613 W9,613 Before IMIA0 32W7Taxade Tax AIkcadm Binds, Bondslsmad Onor 911M007 911203a US Bank Pror,,AMu,Ss. Merged1 34"M N 58847 58,617 Series B Before 12I31110 a SERAF Loans SERNIERAF IR02010 6130,2017 P.I.Bonn,Hmein9 I nnne•m 1Y 2rW10 and 201WIl m",I11 dn55519 N - 6.kor SERAF Pa mcnla n - ] P411PIPEPIR1111111114Rs-19aB SalfuMe WMad1 1532.669 N - Suaa p 6 Must Cunwnton Center Bmde Revenue Break 6RR00] 11112014 cry of Palm Wn, Adnry Contribution le ConverNen Mer9edl 2]]00000 N 650 ON 650—M Issued On or Before Lehr FapvNon 1221110 ]OentraRServices-Fnanaal Fees 9222010 6130R019 H-11 B Company Marped l Bond.Disdosum lRelin9 Mer9ad l 36.000 N 180C I.Sw Maisors B Cmbed Sertices-Renate Fees 6141010 5902015 V1Wan Financial Services MerWd l BorW RabsM GrsuHP Merkel I5,040 N CaIaNOn Saracen 9 Bmtl Trustee Fees Feu w16200e 11/120]4 Bank of New Yea Meter Merged 1 BoMa Tustee Fees Mer9etl1 118.000 N Trull l l Onspostln and Oeuelcpment opmmCmeNd 121N1005 9112022 En"elnvMmeoe F'nandtl MaMMx(IOYear) Merged mo,ow N Arpreenerne, on 12 Omer PeTapaOan A Armen Bupneas lruer.a IlimM 6/302018 MP motors Fins-,al PssYlanu M.Wd1 600.000 N m,wo 200.000 m nts 13 Pedfic He NM Jea eni ..on 12 012 ]21R014 1p.al. Judmnlas Debrrvaed ir,Cmd Marked 1 1 Y 162004 Tat ALauOm Rerndng Bords Issued On or 6116200e wina1 Bank of New York Mqm Refinnoe l 9N Tax Macaroon Bolls Merged3 Y - BmdeSnleeH Before 12IAO Tmal 152Po7 Ta,ede Tn Naatln Bonds. Bands awed On or 911820W 9112034 Bank of New York Maher Ropery Acnuiaitern M.,arI2 10,514508 N 1 185,211 165211 Sears Remre 12n1nm 7rna1 16 menl for Reimr--naenl Mi siftaneous 12512006 M02037 lcs,.fpainq in PSL-216 Leese Mer ed2 1094 5151 N CmMBnde B`Bc9d] efpirr SpMP nq..an b Conversation leaned 2 8,300 1 IN AN Center Expansion 18 Contact ec FnandA Fees MM010 NJO?O19 Haase b Compan, Merged2Bonds Dlatl use RVabrg Merged ]0,000 N L600 1.500 Adv ao 19 Gn0eQ 8eruk -Rebate Fen BrIR010 fl002015 NRian Fnanrisl5erwus MArNd 2 Bn0s Relaxes LoMtlnp Merge12 Y - GruM llim B.Mraacu 208nd Trlwltt Fen Fees 8/18(IOO4 11/1R03a Bank of New Yoh MNm Marena]3Ban.Tm¢In Fee¢ Meryetl2 I00,500 NTreat Bank 212001 Hauarq Tax NosaSon BOFAe SBonds.Roa kwetl Car or 1A1R001 N1R@I Benk of New Yoh Malin R.Manw 1991 Housing Tax Meryetlll Meryetl2 Y Bees 12/31/10 TrwiHalf location BonM 22 Gnbed Serviem-FYrandM Fen 9R3R010 6]JOR01B HartN6CompanY Housing Binh Oaaowre BBeing NerpWll Merypd2 V Atli on 23 GnbeC 6srv'ra-Raise, Fees 5N41010 MORO15 YOWan FlneMal SeMces Houting Binh Rebate CauMp Mer9eMl Meryetl2 V - CNa8a0n Somas M Bast Triuln Fan I. LIBRW6 11112034 Bari MNew York MNn HwNnp Bmb Trustee Fees MerpeMl Meryetl2 - V rutt 25 conked Sek di Ad rvea-AuMn CeY 152 6eiDR0 s a010 15 IT Lanes See 6Lun ary mServce, Me d2 MdllM 26 Canbaa 8errcn-L A La• fog,p15 wood.9 M6n kneal Le MCosse saIasd2 ]]II N 9090 9000 100000 N 90]p 9000 21 Conlrerl 6ereoks-F.an.., AdnYn CaaN ]I18R008 EllNN19 Hens88 Compny R,tSCmeWBnp .1.11Meryed2 100000 N am 4.000 Advisors Recognize l Obligation Payment Schedule(BOPS t0.1 SO)-ROPS Detail January 1,MIS through June 30,2D15 (Report PmowR in MTda Dolra) A B L D E F O H I J K L N N O P Funded eamo HenNtlawbpmeM PmpeXy Tu Tual Fun tl Total HogFTTF CorlractlAOwxnxrlCm�inatio Sale Ou1,CbN 00.M Be..eu Xem% Pro Name Debt Obligation Od'atimT EueulM Gera lamination Sale Pa Desch bnlPl'ecl5co Aria er0 gatlM lonl PmwNs Balance OIKx Fu1 HonJWmin 11aMn SM M11oniM1TMeI 34 110615 HB 5000 3{1]2 31339l1 15000 3296913 CW Tax PHaca6m ReNndn Bonds hwea On or 1/1&2007 olmom UBank ofS New Park MCAon ReFnanee 1994 Tax Pllocation BonNz Me ed1 Y 2200TTm PbceOm Bmtls.SMeaA Bonds Nwetl On ar 9118R00T 911(!ON U9 Bank CagIN RoKcb Meryetll 21 j9],100 N 308,613 3119.813 Aron 1201110 3 deTn Plbwfim Bonds, Bonds Issued On or 9/16ROW 911(20H US Bank RcpeM Aa9msnion Merged 3FH,@2 N SO,HT N,N SeHex B 1 6eries SFRA,FRAF10 d $ERNE Loans SFRAF/FRAF d2012n10 61302037 P.I.Springs;ssorHwang Loam AsFY 2009/10 and 201 W11 Mer9Pn l a,0b,6)9 N $awesaar $ERPF Pa meets S IINUMO Dalnrel RePrymenl 111/1996 1203T PdWIPMMFMWMM19e88NAYtle 0.lxrJ Mx9etl1 N Su. 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Mage61 309,613 N 309,613 309,613 TMd 442007 Taxable Tax Nacadm Bonds.Revenge 911612007 Ol Bank of New York Mean Proper,Acquial Mereed1 55.617 N 56,647 56,617 Senn B imn 4520W Tax Noca6m Refunding Rn.. &1612001 911=4 Bank of New Yak Mean Been.-.1994 Tax Avocation Scroll Mxpd2 Y - Bentls senesB T. 462007 Tax..Tax Nbea6m BmM.Resaw• MIM2007 AMU Bank of New York Melon Rcpelb Aodualtlm Mulled U0241 N 340,311 340,211 Banes C Titan 47 200I Housing Tax MouEon Bond. Reserve. 7aincOl MM21 Bank of New York Mlon Reenance 19011buuIlq Tax kNreacilkadeW2 Y - Trust Macedon Boni 48 Repent Tax Care6 BOW Rapxb 7Nf2013 4102019 Ceunlyof RNelekle Property Trap on Aflame Heidi Lath M.reetll 12,6W N 1,40 I,IOII Prop." ReaspoWanderanu pence,PMP-Cunsnl MMeMm 49 RopeM Tax-Core6BoW Rpeme 2N1A14 15 Camb MRNeldb Resent kr Nnt lmlalmmtel Meleetll 1,4W N 1,IO0 1Ao0 R e Tavm11em 48 W PropertyTu[-P9L2]B RopeM R¢eM TI1YA1] 0]] Cana of RNati6e FropaM T•:•.on RopaM lNap Marped2 251300 N 4,400 4,400 Me enael,ru PSL 2]6 Am Need! -Ounenl lnaWmml 51 Property Tax Pa 2M RopeM Rperves ]111N14 002015 County ofRhrude Reeem for NeA Ins\almm[ol Magetl2 4,4W N 1,400 4.100 R e Tan en Ilem 50 52%azeTMehe-Imuranu Repent Tn1101{ (10.2015 Oily of Palm Spline Inurence on Agency Heb Begets Meryetll ]6,OW N 12.000 12,Cp0 Mainbnence Pendin PMP 0 Per.Th...-Menbnnce Repent 71IM14 WW1015 C6y of Pidn Spnnp Mainbner,u Coale cn P®enry HeM Megedt 1I'm N 3.500 3,500 Mainienarce R PeMI PMP 66 PIna Thence-Jtilf— PropeM hIROL 6rJ01201e Doxen Weer UWks for Agenry HNd Propncy 77M-14 B.WO n 2,W0 2,eW Mamfeneme pmdn PMP 51 Rvelmornment Lease PmpeM ]13M003 SIJI2p16 Ben lmxadnenb Leew alpWeMatlpceMta Ru• 0G0 n 4,800 4,BW Mekaanane Matra wed for.aace cn Recognized Obligation Payment Schedule(ROPE 14-159)-ROPS Detall January 1,2015through June 30,2015 Mi Amomme in isfiole DMars) A 0 C O E F 0 H I J I( L M N O P ligandi Imes e NaM[rYrebpmnt Proryrly Tee Tmrt Fund Total (Non-RIP'l-Tilil RPTTF 6ontrastie,erinni 6ontractirktnni nt Outstanding 0e0t Fir— Ileml Pro ct Na, /C OLlr OLIi ni Exec nOate Pa Des NP,o cl It— Proect Are or mI somea BMd PIOCNde Bolan 01Fer Furls Nm�AJnr Atlm SiaJMn11,TOW 58eM bw Ln.n RPTTFMk,hJ.Y110 11(SOR018n IMIM014 sprints cW10wTr olpeyep MergN1M>pea3 N ODR 59i Davy low Loose 1.-"inme CfylCwmly Loan. 11ROrz011 121dt2015 City of Pe loan fair Springs a04.l fa WNose of Merpecl � MS Banff rr Pi Txeeler 60 Cash flow Loan im Pi Completion ClrylDWnry Loans 7I12013 IW12014 City of Pi Sprints Casa aewnce to pay PIMP consultant Mer0an Ifil 9ea2 y Aga 6122111 61 Relnbun.N.CwLL Abroad--- 711=14 61J02015 C11y of P.Im Spmq. Staff Cos6rMelinp b Ns pepsa0m MerpetliMaped3 7'M9 N ),M 7.359 and someleNn OMe elnaMn,o/ andBe. 623011 Steamboats T.PbmSon ReMdte lbnb 101912014 911RON USBank ReManergof3N1 ane30090onds MerpediRAeripai n.757.678 N Mimi 390,279 Bon. blued ANriii 63 Compact Smakes-Flnendel Fee. ar=010 BI30(1019 femme&Conn" 3m a BOMB DI.doare.ITI&M, Mail MA00 N 1,500 1,500 Adebors N Contrast Servrse-Rebate Fees Safi GdO2015 N an Financed SaNces 2014 DOM.ReOele CanaW,e Mer,d1 10.000 N Calculation Sam m 65 Bond Trapee Fe® Fen Nimbi 91 US Bank 2014 tape.Trwhe Fees Merged 1 160000 N AS 201e Su0aJnate,Tm Al.n Rnema OVION2016 Ili us Bane R M..dl of2001 and 2004 Brown. MergJlsiereH2 410.161 N 418.161 418,161 B.M. 67LMIHF Di Ca merit Miudannw 11(SNNt2 EUNDAN15 cift of PAMsrir Excess Transfer for lMIHF DDR Ifierfiefilifilai 13173 N 131n 131n 0 A.ence Rom Me Clly M Cork a Properly, 711=14 6R02m5 cry of PAM Spy, 80 year dal WiMn,he.uwb 23,000 N 23,000 23,000 Bond.Buidnp Ea..RexmnO Misers ce aluminum widn9 and la in danger of an electrical fire,and itb oari by e fername 89 N ]0 N ]1 N 32 N )3 N 08 N 35 N M N _ 11 N 18 N 19 N N N 01 N 62 N a3 N N N BS N N N 87 N IN N N N 90 N i1 N 93 N 93 N N N e N Recognized Obligation Payment Schedule(ROPS 14-158(-BOPS Mail January 1,2015through June W,2015 (Report Ameuma in Mole Daa rl A B C D E F 0 H I J N L N N D P Fundln !once NonRedavabpmml Pmpeny Tm Trust FUM Total Ne Jarl'fF RPTTF Con4acuAgnamaa Ccn.A9reement Ouhtanding DeLt Reserve item Pro.l Name l Dent o nL a Onli a oni E-rul—Deal Tamiiatcn Date Pa Oesoi IionlProeol sc a Pro ad Area or OLl. a Processes Bond Procds Balance,Balance, Mer Funds NunAdmin Ad— Six-Monds Total a cases Mast✓es Iairw Mahaddip Ck/AVXy w Lane 1120201a C9carestyields Iptlt Spfpgweapeylp x I.M.m N ,.. - 59C-1,dow tuanm I'l—meals C'Cow,r Loans 1M012013 1313@015 cny ul 1alm smiles Cadi lbw loan for 0uMose of Mcreodt After M7111 nesommun,Plaza Thaate 60C wflow Loan for PMP Compiled-Car1counry Loans I/I42013 IIR1Rm4 City of Palm Syrnga CaN edeerrce to pay MP c.owRon[ Merfedl/Merged 2 - y After 6427111 61 ReirebursaMe Costs MiaWMn— 71142011 6M=15 CRyo1PMm5pringa Staff Co.rearng to as PTaretion Mer,wh Mg9ed2 ),ng N 1,359 7,359 and wayledon of Be refinancing of 201 and 2GOA Banda 92201a Subordinate Tax Flowean Refunding Bonds 8119R014 911R0'H US Beni ReMa.in,a 2001 and 2001 Bonds Mm9edlN.,d2 22,757,679 N 390,279 390,P9 Bands Issued After W7112 63 Canbatl series!-Fmndel Fem 9(S2fM10 19 HanM 6 Comperry 2014 Benda Md..lliaang lidded 39,000 N I.soo 1AW AdMon U Co1M1M 8ervisw-RWab Few 61e12010 40,2015 BWtles Firunual Service 2014 Bonk Rebels Cmwlang MergedI 10,efa N eelwatim Styled, M Bond Treated Few Few MI g2014 NI12034 useenR 2014 Bantle Tmake Fees Wiledgialt 160000 N M 2014 Subordinate True AbsAm Rmerves 6N RR014 9NA2024 us BmR Beenenrng a 2001 and 2001 Bonds Merged16de9ed2 41a,161 N 418,161 418.161 Bids 67 LMIHF DOR Oyerpardireast MMallaneow IIR)2m3 4=015 Cfty,f Pairs S 'n Eepw Temfer for LMIHF COR MergedlNerged2 13ln N 121R 12112 66 Adanee ham the CayM Cars 6 Rapedy M12014 6130. 15 Gary of Palm Springs 00 year old bulkling hat ueare "'m N 23,000 23,000 BMa Bu2Jng EkNMR.rin9 Maintenance abornow sing and is in dan0er a an ekc0lul In.and R b accused by a Brand! N N 20 N 71 N n N 13 N Ts N n N M N n N ]6 N 79 N N N 61 N 82 N $3 N Be N 85 N N 82 N 81 N BB N a0 N S1 N 92 N 93 N 9• N 85 N O Recognized Obligation Payment Schedule(ROPE 14.168)-Report of Cash Balances (Report Amounts In Whale Dolan) Pursuant to Health and Safety Code section 34177(1),Redevelopment Property Tax Trust Fund(RFM)may be listed as a source of payment on the BOPS,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 https,//rad.dof.ca.goy/rad- sa/pdf/Cash Balance Agency Tips Sheelocif. A B C D E F G H Fund Sources Bad Proceeds Reserve Babnce Oar, RIa Prior ROPS Prior ROPS "Mod balances RPM Bonds blued Bond.bound and DDR RPM distributed ae Red, N."dinin on or Were on oraRer Lawn... reserve for Granta, and Cash Balance lnforma6onb BOPS Period 1M31110 01101D1 mtained future periotllsl Imeoin wo. Admin Comments ROPS13-14BActuab 01101114-06130114 1 Beginning Available Cash Balance(Actual(HIM1114) 3,201 43,963 245,5A 2 Revenuumcom.(Actual O6130114) RPTTF amounts should tie to the ROPS 13-146 distribution from the County Auditor-Cmdmller during January 2014 Col E{MIRE OCR Amount Required by Finance 3.996 1,487,828 40,259 4,402.543 (City ban should have been$1,487,828) 3 Expenditures for ROPS IM4113 Emoreeabla 01,11,11ons(Aclual 0W301141 RPTTF amounts,H3 plus H4 should equal total reported actual Col E-LMIHF ODR Amount Paid(overpaid by expenditures in Ore Robot of PPA,Columns L and 0 1,50p ow 47,050 2,743,039 SA):Col G includes 37,3au AIP from 1}14A 4 Retention of AWlabie Cash Balance(Actual 0M3014) Col C-Bond Reserve Fund and Restricted RPTTF amount retained should only include Me amounts dls0unihad for Project Funds;Col G Robinson of other some does servcee reserve(s)approved in ROPS 13.148 to led 14-15A Line 60,Col H-$5,800 reserved 3,212.750 1 1 25000 1 1,602.095 ifor Property Tax.Lelarwe or Debt Service S ROPS IM413 RPM Prior Paned Adjustment RPTTF amount should tie to Me self-reported HOPS 1S1413 PPA In lee No entry requiretl Reportof PPA,Column S 8 Ending Actual Available Cash Balance 5],409 C to G=(1 v2-3-41,H-(112-3.4.6) (12,172)112,1n M.07 ROPE 14-15A Estlmab 071 114-12131/bl 7 Beginning Available Cwh Bulance(Actual 07101/14/ to,D,E,0-4.4,F-H4+F4 a Pa.and H=6.61 3,212,760 1217 1,60 OM 37,172 302,Ug a Revenu.11ncome(Estimate 1831114) RPTTF amounts should tie to the POPS 14-15A distribution from the County Auditor-Controller dwnna Jun.2014 1,180,739 9 E.pendlWna fa ROPS la-1 SAEnfore"ble Obligatlals(Eslimate WC-2001 and 2004 Bond Reserves 12131114) Transferred to Refunding Escrow Col Ca 14-15A 2,175,419 1,602085 25000 1,426.316 Line 60 to be funded Mom Other Fund. 10 Rawntion of Available Cash Balance(Estimate IV311141 RPTTF amount Waited should only include Me amount distributed for debt service reserve(.)approved in ROPS 14-15A 12,172 12.172 Reimburse for LMIHF DER Overpayment it ErdinO Estimated Avallable Cash Babnn 17.9-9-10) 110]T331 67 Recognized Obligation Payment Schedule CROPS 14-156)-Report of Cash Salances (Report Amounts in whole Calars) Pursuant to Health and Safety Code section 34177(I),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 hnpo://rad.dof.caRov/rad- / df/Cz h Balance Agency Tips Shetandf. A B C D E F G H Fund Sources Bond Proceeds Reserve Bahn<s Other RPTTF Prior ROPS Prior ROPE period balances RPTTF Bonds issued Eondshaued antl DDRRPTTF distributed as Rand, NooAtlMn on or W. on or after ba re lances serve/or faararlb, and Cash Balance IMomntlon D ROPS Period 1L]1H0 -11D1111 retalnetl Mure s IMeaeq Eta, pdmin Canovanas ROPS 1}14B Ach"' 01M1114-09I30114 1 Beginning ATHL-ble Caeh Balance(Actual 01101114) 3,208,754 43,983 245,577 2 Rsvo.U.M.ome(ActuaI W1311114) RPTTF amounts should lie to Me POPS 13-14B disaDut,on from the County Audltoo-Contmlor during January 2014 Col E-LMIHF DOR Amount Required by Finance 3,998 1,457828 40,2% 4,402,543 (City loan should have been$1,487,828) 3 Expenditures for ROPS 13-14B Enforceable Obligations(Achad 08/3GH4) RPTTF amounts,H3 plus H4 mould equal total reported actual Cal E-LMIHF DER Amount Paid(overpaitl by expenditures in the Report of PPA,Columns L and O 1 SOg000 d],050 2,743,039 SA Cot Il 4F DER $mount PIP from 1}14b 1 RPI-TF ano/pvathbh Cashel alance only include all Me amounts Col C-Bond Reserve Fund and Resmtxed RPTTF amount retained should only include me emounte tlialdbuted for Project Funds;Ca G Retention of other income debt sarvim reserves)approved in ROPS 13-146 to fund Property Tax. Linelan Col H-15,8 er reserved 3,212 J50 25,00d, 1,602.085 for PmwM Tax,Dehnw for Debt Service 6 ROP513-t/B RPTTF Prior Period Adjustment RPTTF amount should to 101he self-h ported ROPS 1 3-1 48 PPA in the No wary required!Report of PPA,Column 5 57 409 6 1 Entling Actual Avalhbh Gait Balance C to 6=41-a 2.3-4).H=(I.2.3-4-e1 12,172 1 12172 2K,lA ROPS 14-1SA Estimate 07/01114-1L31114 7 Beginning Avalhble Cash nation. (C,(C,D,E,G=4+•e,F•H4+F4+Fe,altd H=/eQ 3,212,760 12,172 t fig2,g95 37,172 302,966 1 Ravenuemounme(Estlh me t 1L31114) RPTTF amountsshouldtieurng une2 1C-15A tlisapulbn from the Cxun AutllbrW ROPel dude Efforc14 1,180]39 9 ExPendnuresfw ROP51415A EMoaeable Obligations(Estlma[a 1 L]1H1) Col C-2001 and 2004 Bond R.row Gala Transferredb ro tided o Escrow;Cal G 1F15A 2,115.419 1.002,095 25,000 1,128,318 Line fill ro De funded from Other Funds 10 RNxttlon of AvallaOb Cash Balance(Estimate 1L311161 RPTTF amount retained should only include the amount distributed for debt service reserves)approved in POPS 14-15A 12,172 12,172 Relmtims,for LMIHF DCR Onsurnayment 11 ErMin9 Estlnsaesd Avaaabb GehBWnca Pea-9•f0) 1,037,3311 671408 \ �� � | l ��• ; l.,•� , . . . . . . . . . . . l . . . . . l . . . , . . . . . . . . !.� � . . . . . l . . . l . . . : . , . . , . . . . �� •• . © � ! 9E | ! ! 77 - - { ) . ! � • g, • , , 1 , ; , !�;|�_ §„ • ; ' � < . , , r - { ' ! )t . ` . . . . |� _ lK.. • , • , l ; , , !! ' . . . . . . . . . . . . . . . !! | ll . . . . . . . . . . „ , a | \ [ | , 2 . . . . . . . . . . . . . . . � . . � . . . |, ! !! ' . . . . . . . . . . . . . . . .� � . . . . . . . . . . . . . . . ) ° ! | {! ; ��.� . . . . . , t • , . . l . . . l . . . . . l . . , . . | ° 2 \ � { / . . . . . . . . l . . . : . . . . ; . . . . !; !! ;• . \ § � | 6! ! . � � „ ; ! ! - , • � � . . . . § a, )i' His [ - ! - - , , • - ( � � ` - • , r . !) | / . . . . . . . .! . . . . . . . . . .! . . . .!! l. . . , . )| F | � . . . . . . . . . . . . . . . . . . ., . . . . . . . . . . . . . . . . . . . . . . . . . . . . , ! � \ \ . . . . . . . . . . . . . . . . . . . . � . . . . . . . . . . . . . - § / ) � \ � . . . . . . . . . . . . . . , . � . . . . . . \ j � . § ! l • , , l , - , v , . �I • : ; , r • � , < . . , ._ , | .,s ` ; � � � � � • � � � � , , , ; ; . . , . ,- , � �§! } _ � § , , • � lrr . . J . § | ! § . . . . . . . . . . . . . . . . . � . . . s , { ( | � T . . � . . . . . . . . . . . . . . . . . � � . . . . . . . . . . . . . . . . . . . . . . . . . . . . . !! ;` ! | � � , ! ! _ . . . . . . . . . . . . . . . . . . � . . . . . . . . . . . . . ! hih | ! ! ! � !!| !| i •. ! ! .�\ . . . . . . . . . . . . . . . . . . . . . . . . . . . . ., . . . / §/{ § , l • � , , , � , e . || � }) | ! § . . . . . . . . . . . . . . . . . . . . . . . . . . . ! )\ . }\ ( ! | T . . . . . . . . . . . . . . . . . . . . . . . . . . . |§ . !\ ` . . . . . . . . . . . . . . . .( ! � . . . . . . . . . !; | Og | | | !§]h)`(| §§ ! ■ §| I \§)� § Recognized Obligation Payment Schedule(ROPS 14-15B)- Notes January 1,2015 through June 30,2015 Item# Notes/Comments 25-27 Other Income expected to fund items includes rental income(if Agency leased property is not disposed of)and interest income '. 60 Other Income designated in 14-15A to pay this line item,reserving funds on hand for this payment 67 IThe City transferred$1,500,000 to the SAand SA paid$1 500,000 to the CAC for the LMIHF DOR balance;Finance Letter of December 13,2012 only required $1,487,828(rounded up to$1.5M in the text of the letter) Excess payment should be reimbursed to the SA for reimbursement to the.8 City J_ —_ _ 68 � 0 year old SA-Owned builtlling has unsafe aluminum wiring and is in danger of an electrical fre.It is occupied by a tenant(Cork&Bottle). The City will loan funds to ' the SA to pay for the rewiring to be repaid in 14-15B Recognized Obligation Payment Schedule(ROPS 14-1513)-Notes January 1,2015 through June 30,2015 Item# Notes/Comments 25-27 Other Income expected to fund items includes rental income(if Agency leased property is not disposed of)and interest income 60 Other income designated in 14-15A to pay this line item,reserving funds on hand for this payment 67 The City transferred$1,500,000 to the SA and SA paid$1,500,000 to the CAC for the LMIHF DDR balance;Finance Letter of December 13,2012 only required--- �$1,487,828(rounded up to$1.510 in the text of the letter);Excess payment should be reimbursed to the SA for reimbursement to the City 68 ',80 year old SA-Owned buildling has unsafe aluminum wiring and is in danger of an electrical fire. It is occupied by a tenant(Cork&Bottle). The City will loan funds to ithe SA to pay for the rewiring to be repaid in 14-15B O PROPOSED RESOLUTION MATERIALS TO FOLLOW RESOLUTION NO. A RESOLUTION OF 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 13-14B) FOR THE PERIOD OF JANUARY 1, 2015 THROUGH JUNE 30, 2015, PURSUANT TO SECTION 34169(g)(1) OF CALIFORNIA HEALTH & SAFETY CODE WHEREAS, the City Council of the City of Palm Springs ("Council') and the Agency Board of the Palm Springs Community Redevelopment Agency ("Agency") approved and adopted the Amended and Restated Redevelopment Plans for the Merged Project Areas No. 1 and No. 2 ('Redevelopment Plan") covering properties within the Agency (the "Project Areas"); and WHEREAS, since the dates of adoption of the Redevelopment Plan, the Agency undertook redevelopment projects in the Project Area to eliminate blight, to improve public facilities and infrastructure, to renovate and construct affordable housing, and to enter into partnerships with private industries to create jobs and expand the local economy; and WHEREAS, as part of the 2011-12 State budget bill, the California Legislature enacted and the Governor signed AB X1 26, requiring that each redevelopment agency be dissolved unless the community that created it enacts a resolution committing it to making certain payments; and WHEREAS, on December 29, 2011, the California Supreme Court upheld AB X1 26, which dissolves all of the redevelopment agencies in the State of California, and struck down AB1X 27; and 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 Community Redevelopment Agency of the City of Palm Springs, does 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 14-15B) for the period of January 1, 2014 through June 30, 2014, attached to this Resolution as Exhibit A, is hereby approved. Recognized Obligations Payment Schedule 14-15B September 17, 2013 Page ; 1 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. 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 1X 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 17T" DAY OF SEPTEMBER, 2014. DAVID H. READY CITY MANAGER ATTEST: JAMES THOMPSON CITY CLERK j Recognized Obligations Payment Schedule 14-15B September 17, 2014 Page 12 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. was adopted by the Palm Springs City Council at a regular meeting held on the 18th of September, 2013, and that the same was adopted by the following vote: AYES: NOES: ABSENT: ABSTAIN: JAMES THOMPSON CITY CLERK Recognized Obligations Payment Schedule 14-15B 13 September 17,2014 Page 13