HomeMy WebLinkAbout6/6/2012 - STAFF REPORTS - 2.P. iZ
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Cg41FOR % City Council Staff Report
DATE: June 6, 2012 CONSENT CALENDAR
SUBJECT: AUTHORIZING THE ADOPTION OF AMENDMENTS TO THE
RECOGNIZED OBLIGATION PAYMENT SCHEDULES FOR THE
PERIODS OF JANUARY 1, 2012 THROUGH JUNE 30, 2012 AND JULY
1, 2012 THROUGH DECEMBER 31, 2012 IN THE FORM OF AMENDED
RECOGNIZED OBLIGATION PAYMENT SCHEDULES (ROPS)
FROM: David H. Ready, City Manager
BY: Department of Community & Economic Development
SUMMARY
This action amends the Successor Agency's Recognized Obligations Payments
Schedules (ROPS) for the periods of January—June, 2012 and July— December, 2012,
based on the review by the California Department of Finance, required under AB X1 26.
The Oversight Board of the Successor Agency previously approved the Amended
ROPS on May 30, 2012. An approved ROPS is necessary for the County Auditor-
Controller's Office to release the property tax to the Successor Agency necessary to
pay the enforceable obligations listed on the ROPS.
RECOMMENDATION:
1. Adopt Resolution No. "A RESOLUTION OF THE CITY COUNCIL
ACTING SOLELY IN ITS CAPACITY AS THE SUCCESSOR AGENCY TO THE
PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY AUTHORIZING
THE ADOPTION OF AMENDMENTS TO THE RECOGNIZED OBLIGATION
PAYMENT SCHEDULES FOR THE PERIODS OF JANUARY 1, 2012
THROUGH JUNE 30, 2012 AND JULY 1, 2012 THROUGH DECEMBER 31,
2012 IN THE FORM OF AMENDED RECOGNIZED OBLIGATION PAYMENT
SCHEDULES (ROPS)
2. Direct the Clerk of the Successor Agency to cause the transmission of the
Amended ROPS to the Riverside County Auditor-Controller, the State
Controller's Office, and the State Department of Finance; or alternatively to
provide notice to those entities together with the address of the City's website
ITEM NO.
Successor Agency Amended ROPS Approval
June 6, 2012
Page 2
and the posting of the ROPS to the City's website.
BACKGROUND:
Under AB X1 26, the Successor Agency to the former Community Redevelopment
Agency was required to approve a "draft" Preliminary Initial Recognized Obligation
Payment Schedule (IROPS). The first IROPS was due by September 30, 2011; the
updated IROPS was due by January 31, 2012 and then was amended in February,
2012. The IROPS listed the minimum amounts that must be paid by the successor
agency over a six (6) month period to fulfill its enforceable obligations during that period,
with the first schedule covering the period from January 1, 2012 to June 30, 2012.
The ROPS is the document used to determine the amount of what was previously called
tax increment the Agency will be allowed to retain on a six month basis as well as the
amount of the Successor Agency's allowable administrative budget under Health &
Safety Code Section 34177(J)(2). A new Recognized Obligation Payment Schedule
must be adopted for each successive six-month fiscal period. The form of the ROPS is
prescribed by the State Department of Finance and adapted by the Riverside Auditor-
Controller's Office.
The established draft initial ROPS covering the period from January 1, 2012 to June 30,
2012 was approved by Oversight Board and submitted to County Auditor, State
Controller's Office and State Department of Finance by April 15, 2012.
The revised ROPS for the six month period July 1, 2012 through jDecember 31, 2012
was due by May 11, 2012 to the State Department of Finance and the County Auditor-
Controller. That ROPS was approved by the Oversight Board on May 1, 2012 and by
the Successor Agency on May 2, 2012 and submitted to the State and County prior to
the deadline.
The California Department of Finance has completed its review of the ROPS, which
included obtaining clarification for various items. Health & Safety Code Section
34171(d) lists enforceable obligation (EO) characteristics. Based on a sample of line
items reviewed and application of the law, the State determined that the certain items
do not qualify as EOs. The comments from the State Department of Finance on both
ROPS, and staffs explanation of these items, are as follows:
January through June 2012 ROPS:
• Page 1, line items 5 and 9 - Merged Project #1 totaling $1.9 million and line items 3
and 7, page 4 - Merged Project #2 totaling $1.2 million. Health & Safety Code
Section 34171(d)(2) states that agreements, contracts, or arrangements between
the city that created the redevelopment agency (RDA) and the former RDA are not
enforceable unless the loan agreements were entered into within the first two years
of the date of the creation of the RDA.
02
Successor Agency Amended ROPS Approval
June 6, 2012
Page 3
• Page 1, line item 26 - Merged Project #1 totaling $3 million. The county deducts
property tax collection fees from the successor agency's tax increment prior to
distribution. Therefore, this item is not an EO.
• Page 6, line item 3 - Low and Moderate Income Housing Fund Obligations in the
amount of $16 million. The requirement to set aside 20 percent of RDA tax
increment for low and moderate income housing purposes ended with the passing of
the redevelopment dissolution legislation. Health & Safety Code Section 34177 (d)
requires that all unencumbered balances in the Low and Moderate Income Housing
Fund be remitted to the county auditor controller for distribution to the taxing entities.
Administrative cost claimed exceeds allowance by $230,753. Health & Safety Code
Section 34171(b) limits fiscal year 2011-12 administrative cost allowance to five percent
of the property tax allocated to the successor agency or $250,000, whichever is greater.
Five percent of the property tax allocated is $443,482. Administrative costs claimed
from January to June 2012 totaled $674,235. Therefore, the administrative cost
allowance for 2011-12 is $443,482. The following line items have been counted towards
the administrative cap allowance:
July through December 2012 ROPS:
• Page 1, line items 5 and 8 - Merged Project #1 totaling $468,406 and page 1, line
item 20 - Merged Project #2 totaling $424,000. Health & Safety Code Section
34171(d)(2) states that agreements, contracts, or arrangements between the city
that created the redevelopment agency (RDA) and the former RDA are not
enforceable unless the loan agreements were entered into within the first two years
of the date of the creation of the RDA.
Except for items disallowed in whole or in part as enforceable obligations noted above,
Finance has approved the remaining items listed in the ROPS for both periods. This is
their determination with respect to any items funded from the Redevelopment Properly
Tax Trust Fund (RPTTF)for the June 1, 2012 property tax allocations.
If the Oversight Board disagreed with the State's determination with respect to any
items not funded with property tax, any future resolution of the disputed issue may be
accommodated by amending the ROPS for the appropriate time period.
Items not questioned during this review are subject to a subsequent review, if they are
included on a future ROPS. If an item included on a future ROPS is not an enforceable
obligation, Finance reserves the right to remove that item from the future ROPS, even if
it was not removed from the preceding ROPS.
The Oversight Board approved the two amended ROPS at a Special Meeting held May
30, 2012, for the current six month period and the next six month period, for transmittal
to the State and County. Given the Oversight Board and City Council schedules, the
03
Successor Agency Amended ROPS Approval
June 6, 2012
Page 4
Oversight Board reviewed the ROPS prior to its ratification by the City Council acting as
Successor Agency. The priority under AB 26, however, was the Oversight Board
approval and not the Successor Agency approval. The attached resolution makes the
Oversight Board's approval subject to the Successor Agency's adoption in the same
form.
As with the prior actions of the Oversight Board, the conclusion of the Successor
Agency audit by the County's external auditor, Brown Armstrong, and any findings, and
any changes to the ROPS based on the audit, would return to the Oversight Board for
review and amendment.
hn R ymo d, Director Tom Wilson, Assistant City Manager
/Communi Economic Development
David H. Ready, City Manager
Attachments:
1. Resolution
2. Amended Recognized Obligation Payment Schedule (ROPS) January through
June, 2012
3. Amended Recognized Obligation Payment Schedule (ROPS) July through
December, 2012
04
RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL ACTING SOLELY IN
ITS CAPACITY AS THE SUCCESSOR AGENCY TO THE PALM
SPRINGS COMMUNITY REDEVELOPMENT AGENCY
AUTHORIZING THE ADOPTION OF AMENDMENTS TO THE
RECOGNIZED OBLIGATION PAYMENT SCHEDULES FOR THE
PERIODS OF JANUARY 1, 2012 THROUGH JUNE 30, 2012
AND JULY 1, 2012 THROUGH DECEMBER 31, 2012 IN THE
FORM OF AMENDED RECOGNIZED OBLIGATION PAYMENT
SCHEDULES (ROPS).
WHEREAS, The Community Redevelopment Agency of the City of Palm Springs
("Redevelopment Agency") was a redevelopment agency in the City of Palm Springs
("City"), 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, the City Council has adopted redevelopment plans for Palm Springs'
redevelopment project areas, and from time to time, the City Council has amended such
redevelopment plans; and
WHEREAS, the Community Redevelopment Agency was responsible for the
administration of redevelopment activities within the City; and
WHEREAS, AB X1 26 and AB X1 27 were 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) ("Part 1.85") to Division 24 of the California Health and Safety Code ("Health
and Safety Code"); and
WHEREAS, the California Redevelopment Association and League of California
Cities filed a lawsuit in the Supreme Court of California (California Redevelopment
Association, et al. v. Matosantos, et al. Case No. S194861) alleging that AB X1 26 and
AB X1 27 were unconstitutional; and
WHEREAS, On December 29, 2011, the Supreme Court issued its opinion in the
Matosantos case largely upholding AB X1 26 as constitutional, invalidating AB X1 27 as
unconstitutional, and holding that AB X1 26 may be severed from AB X1 27 and
enforced independently; and
WHEREAS, The Supreme Court generally reformed and revised the effective
dates and deadlines for performance of obligations under Health and Safety Code Part
1.85 of AB X1 26 arising before May 1, 2012 to take effect four !months later, while
leaving the effective dates or deadlines for performance of obligations under Health and
Safety Code Part 1.8 of AB X1 26 unchanged; and
05
Successor Agency Amended ROPS Approval
Resolution No.
Page 2
WHEREAS, on February 1, 2012, as a result of the Supreme Court's decision, all
California redevelopment agencies were dissolved, successor agencies were
established as successor agencies to the former redevelopment agencies pursuant to
Health and Safety Code Section 34173, and successor agencies are tasked with
paying, performing and enforcing the enforceable obligations of the former
redevelopment agencies and winding down the affairs of the farmer redevelopment
agencies; and
WHEREAS, on January 4, 2012 the City Council adopted Resolution No. 23071,
declaring itself as the successor agency to the Community Redevelopment Agency of
the City of Palm Springs ("Successor Agency") upon the dissolution of the
Redevelopment Agency; and
WHEREAS, Health and Safety Code Section 34179 establishes a seven (7)
member local entity with respect to each successor agency and such entity is titled the
"Oversight Board of the Successor Agency to the Community Redevelopment Agency
of the City of Palm Springs" (hereinafter referred to as the "Oversight Board"). The
duties and responsibilities of the Oversight Board are set forth in Sections 34179
through 34181 of the Health & 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; and
WHEREAS, Section 34177(1) also provides that the ROPS (i) shall be reviewed
and certified by the Riverside County Auditor-Controller ("County Auditor-Controller");
(ii) submitted to and duly approved by the Oversight Board; i(iii) posted on the
Successor Agency's website; and (iv) submitted to the County Auditor-Controller, the
State Controller and the State Department of Finance ("Department of Finance"); and
WHEREAS, on February 15, 2012 the City Council, acting in its capacity as the
Successor Agency, adopted Resolution No. 23097 approving the Initial ROPS
("IROPS") for the period ending June 30, 2012 pursuant to Health & Safety Code
Section 34177(1); and
WHEREAS, the Successor Agency provided the IROPS to the County Auditor-
Controller for their review and certification and also posted the IROPS on the City's
website in accordance with Section 34177(1); and
WHEREAS, on April 3, 2012, the first meeting of the Oversight Board of the
Successor Agency took place and Oversight Board Members were duly sworn into
office; and
WHEREAS, on April 3, 2012 the Oversight Board adopted Resolution No. 005
approving the IROPS for the period ending June 30, 2012 pursuant to Section 34177(1);
and
06
Successor Agency Amended ROPS Approval
Resolution No.
Page 3
WHEREAS, on April 12, 2012 the Oversight Board (i) notified the County Auditor-
Controller, the State Controller and the Department of Finance of the Oversight Board's
actions approving the IROPS and provided copies of Resolution No. 005 for their
records, and (ii) posted it on the City's website; and
WHEREAS, on May 1, 2012 the Oversight Board adopted Resolution No. 007
approving the ROPS for the period ending December 31, 2012 pursuant to Section
34177(1); and
WHEREAS, on May 9, 2012 the Successor Agency (i) notified the County
Auditor-Controller, the State Controller and the Department of Finance of the Oversight
Board's actions approving the ROPS and provided copies of Resolution No. 007 for
their records, and (ii) posted it on the City's website; and
WHEREAS, on May 14, 2012 the Department of Finance (i) acknowledged
receipt of the Oversight Board-approved ROPS and cited its authority pursuant to
Health and Safety Code Section 34179(h) ("Section 34179(h)") allowing it to request a
review of Oversight Board actions within three (3) business days, and (ii) requested a
review of one or more enforceable obligations contained in the ROPS, and further
stated that they would contact the Successor Agency within the statutorily required 10
days for further clarification and supporting documentation for the enforceable
obligations in question; and
WHEREAS, on May 27, 2012 the Successor Agency received a letter from the
Department of Finance (i) stating that based on their application of the law, the following
items do not qualify as enforceable obligations: (a) Page 1, line items 5 and 9 (Merged
Project #1) totaling $1.9 million; (b) Page 4, line items 3 and 7 (Merged Project #2)
totaling $1.2 million, because Health & Safety Code Section 34171 (d)(2) states that
agreements, contracts, or arrangements between the city that created the
redevelopment agency (RDA) and the former RDA are not enforceable unless the loan
agreements were entered into within the first two years of the date of the creation of the
RDA; (c) Page 1, line item 26 (Merged Project #1) totaling $3 million, because the
County shall deduct property tax collection fees from the successor agency's tax
increment prior to distribution; (d) Page 6, line item 3 (Low and Moderate Income
Housing Fund Obligations) in the amount of$1.6 million because the requirement to set
aside 20 percent of RDA tax increment for low and moderate income housing purposes
ended with the passing of the redevelopment dissolution legislation; (e) the
administrative costs claimed by the Successor Agency exceed the Administrative Cost
Allowance by $230,753 because Health & Safety Code Section 34171(f) limits the fiscal
year 2011-12 administrative cost allowance to five percent of the property tax allocated
to the successor agency or $250,000, whichever is greater, which would be $443,482
and the administrative costs claimed from January to June 2012 totaled $674,235; and
WHEREAS, the Successor Agency is currently reviewing the interpretation by the
Department of Finance in reference to the items described as (a) and (b) above, and
desires to work cooperatively with the California Department of Finance and the
Oversight Board; and
07
Successor Agency Amended ROPS Approval
Resolution No.
Page 4
WHEREAS, in order to not delay receipt of funds from the County Auditor-
Controller for the approved Items on the ROPS, which funds are necessary in order to
pay such enforceable obligations, at a Special Meeting held on May 30, 2012, the
Oversight Board approved amendments to the ROPS for the period ending June 30,
2012 and for the period ending December 31, 2012, while the Successor Agency
continues to review the interpretation by the Department of Finance; and
WHEREAS, all other legal prerequisites to the adoption of this Resolution have
occurred.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL ACTING
SOLELY IN ITS CAPACITY AS THE SUCCESSOR AGENCY OF THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS AS FOLLOWS:
SECTION 1. The City Council hereby finds and determines that the foregoing
recitals are true and correct.
SECTION 2. The amendments to the two ROPS in the form of the Amended
ROPS for the periods ending June 30, 2012 and December 31, 2012 which are
attached hereto and incorporated by reference, is hereby approved and adopted.
SECTION 3. Future resolution of any non-allowed items will be accommodated
and addressed by amending the ROPS for the appropriate time period.
PASSED, APPROVED AND ADOPTED BY THE CITY COUNCIL ACTING
SOLELY IN ITS CAPACITY AS SUCCESSOR AGENCY TO THE PALM SPRINGS
COMMUNITY REDEVELOPMENT AGENCY THIS 6T" DAY OF JUNE, 2012.
MAYOR
ATTEST:
CLERK/SECRETARY
08
Successor Agency Amended ROPS Approval
Resolution No.
Page 5
CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF PALM SPRINGS )
I, JAMES THOMPSON, Clerk/Secretary, to the Successor Agency to the Palm
Springs Community Redevelopment Agency, hereby certify that Resolution No. is a full,
true and correct copy, and was duly adopted at a special meeting of the Successor
Agency on June 6, 2012, by the following vote:
AYES:
NOES
ABSTAIN
ABSENT
James Thompson, Clerk/Secretary
City of Palm Springs, California
09
RECOGNIZED OBLIGATION PAYMENT SCHEDULE - CONSOLIDATED
FILED FOR THE JULY 2012 to DECEMBER 2012 PERIOD
Name of Successor Agency City of Palm Springs as Successor Agency to the Community Redevelopment Agency of the City of Palm Springs
Current
Total Outstanding Total Due
Debt or Obligation During Fiscal Year
Outstandin Debt or Obligation $ 137,814,881.15 $ 7,869,006.92
S
y.
Total Due for Six Month Period
Outstanding Debt or Obligation $ 2,682,403.50
Available Revenues other than anticipated funding from RPTTF $ 330,000.00
Enforceable Obligations paid with RPTTF $ 2,227,403.50
Administrative Cost paid with RPTTF $ 125,000.00
Pass-through Pa ents Eald with RPTTF $ -
Administrative Allowance(greater of 3%of anticipated Funding from RPTTF or 250,000.Note:Calculation should not
include pass-through payments made with RPTTF. The RPTTF Administrative Cost figure above should not exceed this
Administrative Cost Allowance figure) $ 250,000.00
Certification of Oversight Board Chairman:
Pursuant to Section 34177(I)of the Health and Safety code, C ail k-pcf xzsda
I hereby certify that the above is a true and accurate Recognized Name Title
Enforceable Payment Schedule for the above named agency.
-bs �Bu ZOI Z
ig ture �` Date
tom+
G
SUCCESSOR AGENCY ADMIN BUDGET
February-June 2012 Annual
STAFF COSTS Budget Source Monthly Feb Mar April May June Total
40000 Regular Employees 206,482 ACA 17,207 17,207 17,207 17,207 17,207 17,207 86,034
Furlough -20,648 ACA (1,721) (1,721) (1,721) (1,721 (1,721) (1,721) (8,603)
41600 P.E.R.S.Contribution 70,992 ACA 5,916 5,916 5,916 5,916 5,916 5,916 29,580
41900 Fringe Benefits 37,976 ACA 3,165 3,165 3,165 3,165 3,165 3,165 15,823
41920 RHS 300 ACA 25 25 25 25 25 25 125
Total Personnel Services 295,102 ACA 24,592 24,592 24,592 24,592 24,592 24,592 122,959
Annual
Budget Source Feb Mar April May June Total
OTHER NON-ACA ADMIN COSTS
49000 Insurance 19,736 ACA 4,934 4,934 9,868
49010 Administrative Charges 292,241 ACA 73,060 73,060 146,121
Materials and Supplies 35,069 ACA 4,054 4,054 4,054 4,054 4,054 20,270
Building Rental 16,000 ACA - - - - - _
43250 Audit Services 11,000 ACA 3,000 3,124 6,124
43220 General Legal Counsel 57,700 ACA 6,656 6,656 6,656 6,656 6,656 33,280
43220 Redevelopment Special Counsel 14,402 ACA - - - - -
43200 Contractual Services ACA
Harrell&Company Advisors 20,000 ACA 5,000 5,000 5,000 5,000 20,000
Harrell&Company Advisors 6,657 ACA 6,657 6,657
49600 Paying Agent/Trustee Fee ACA
Bank of New York Mellon Trus 13,000 ACA 143 143
43960 Property Tax 8,400.00 ACA 4,200 4,200
494,205 103,504 23,034 15,710 88,704 15,710 246,663
Total Administrative Budget Feb-Jun 2012 369,622 "
Total Recognized Obligations(P.2+P.3) 7,434,716
Percentage of Total 4.97%
"The Administrative Cost Allowance approved by the State of California Department of Finance was$443,482.
r
ti
Name of ReEa0,nnanl Agency: C."I palm SonnOS a,Suweaso1AN-11 to Me Columnist,Radec.101marl Agency of me Cl of Pam Samos FORMA-Redevelopment Property Tax Trust Fund IRPTTF)Page I
Proles'Amele) Merged Fumed NO t and Merged project No,2
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per A8 26-Section NIP 1'1
Payable from me Redevelopment PropeM Tax Trust Fund(RPTTF)
C ExecVAnUske l Total"( During "' Pementsto on.
Tole(rCar nl 012,Year FundinSource
Pro es'Namel0ebt 051i anon Execution Dale payee Oesctl San Pro es'Mea Oebl gr Obll a0gn 2012�013" Source July 2012 Aug3012 Se 12012 Od 2012 Nov 2012 Dec 2012 IDtal
12004 Tan Nloation Adman Bonds SenesA M1620M Bank of Naw Your Mellon Trvs Refinance 1994 Tax Nlocapon Bonds Merged 1 17895 MAZE 103642].50 RPTTFI t 3
22007 Tax Allocation Bonds Series A B/18200I Bankof New Your Mallm Thr Ca IWPrdach Merged 1 2396038T52 61932500 RPTTFI
_31 2007 Taxable Tax Alloce00n Bonds Serves B Wl B1200]Bank Of New York Mellon True Property Ac ulsition Mer ad t 3854547 11 117,293,10 RPRF 1
4 SEW Loans oCuffirs 514/11 Palms lin li- us Suae LOaru lgr FY 2009/t0 and 20101115ERgF Pa menb Merged 1 50698480. 1052000.00 RPTTF 105200000 1052000.00
5 Loan SKry99B flemoveJa Me C8IXRUHR rbnentd Finance Mer 1 0.00 RPTTF
6 Housin Deferral Rea ed M65 Core Palm
E nns Inhun Sum pe-1986 Set Aside Polenal Mar or1 153366900 000 RPTTF §
7204 Gmvem4on Center Bonds 615I2007 CI 0 PATBdns Agency Contriaulim to Convention Center Exansion Mork.1 299000000 1300000.00 RPTTF 650000.00 85000000
61 Agreement for Reimbursement 1011 6/19 0 1 Removed by the California 0e arMent of Finance Me 1 RPTTF
91 Cana,,Services-Financial 9122GO 10 Harrell A Conan Advisors Mered l Bontls Disclosure Simen ...ad 1 I1000000 SOOODO A17, 1'.fin 100D00
10 ContraG swim-Rebate Calwlation 61450I0 WIIdan Financial Services Mer e010onds Rebate Gansultin Bervices Merad1 2750000 2500W RPTTF 1 2500.00 E 250000
11 Runr TruBlee Fees Mono Issuance bank of New Yak Mellon Turns Merged l Bonds TNSlae Fees Mer,1 1650W.00 ]500.00 RPTTF 500000 f 5000.00
12 DlsoM,m and OeveMmanl Admentsurd 12/512005 Endure Immements Theme Assimance Remedla5on A.m.l 2]]000.00 2]]00000 RPTTF
13 Ols eB ostlo r n and Development ment 12/92005 Endure Investments Flnanual M.Pi nca 1 Year Mariana1 140000000 140000.00 RPTTF 14000000 14000000
14 Ovmer ParticipationParticipationAmusement 1119`2000 VIP MoIws Financial Assistance Mbrand 769552no 150000W RPTTF
151 Areal Imustarly,kid merit Foods Moreausir, Judgment as D..IF.Ey Court abided 1 'AD TOO RPTTF
16 204 Tax NMradm RNundin Donda Series N16RWc I-, server.1994 Tax PHor Wn as Merged Z 14.45329321 613756.26 RPi $
__V71 2007 Taxable Tax Nlmtiw Bontls.Series C W18,2007Trust R makn Moral 2 12,407609.41 521072.56 RP 1 g
18 Areemenikr Ralmbursemenl 1216 .G Cry of Ps.Normn PSL-236 Leese Me tl2 368608300 122892,00 Rpil 122892.00 1 12289200
192004 Convention Canter Bonds 6WO07 City of Palm Summs Aqeknc CmNbullm W Convention Comes Expansion Merged 690000.00 30000000 RWTF Ian fin ") 15000000
20 manlfe RdmWrsamant 6R2/1993 Removed the Cadanle0 almanld Finace .,,ad 2 RPTTF 4
21 Came.Services�Fnanuel 9R2GOIO Haman BC an /Wa.- year,2 Bonds Usdosum fical Meted2 11000000 5W000 RPF1F E
22 Contract Services-Reoale Cesslatiort EASON)toiIIdan Financial Services Me er 2 Bonds Rabble Consultln Servloec Markets 2 2750000 250000 RPTTF 3500.00 2.500.00
23 Bond Trustee Foos Hour issuance Bank of New York Mallon Trm Merged 2 Bonds Trustee Fees Ma.2 11000000 5000.0 For 250000 250000
2_41 2001 Housin Tex Matadi Bonds 7M112001 Benk of New York Mellon True R.HM-e 1991 Assam Tax Nlocatim Bonds M.W.'"Abartmad 503029005 46I21740 Bpi
2L Contract Sarvrcec-Financml 9/ 010 Real A Coma.. Advand Hwsm Bonds ke,cl Aparb Me ed1R4e ed 15000,00 1500.00 RPTTF
N61 Contract Services-Rebate CakvlaCOn 6AGOM WBMan Financial Services Housin Rands Reba@CwsuNn Services adt ad SWBM ON RPTTF I $
27 Bond Trustee Fees Man'..an.Bmk of New York Mellon Two Housin Bonds Trustee Fees Mencedlayfix,ed 22 GM 00 2,500. RPTTF P145500,00
2,50000
28 COntam Services Audit 4/512010 Lance Boll d Wo bent Auda Services Me ed1R.m ad 35200000 1600000 RPTTF SOW.00 5000.00 10000.00
29 Contract Services Leal 1112R0o5 WmtlmgSrelln General Lapel Counsel Mer.MAS eI TBD 3000000 RPTTF 250000 250000 2W0.00 250000 250000 15000.0.
30 Contract del ice, Fi'Ars. 711SQ008 Haemll B CompanyAdvisors POPS and HOPS Consulting Mer etlt ed 1200.00 600000 RPTTF W000 50000 W0.00 500 So 50000 300000
31 E
32
IDm1s-This Page(RPTTF Funding Page 1) 12i999768.15 3 6800383.92 N/A $ 105500.00 20W000 300000 92039200 800000 215880200
Tdmis-Page 21RPTTF Funding Page 2) 351115.00 158623.00 N/A $ 1420900 $ 13020.5) 130205D 1302050 13020.60 8851150
Totals-Page 3(Center Funding) 3960 000 00 $ 66000000 WA $ 55000W 5500000 5500000 $ 5500000 55W000 $ 330.00000
totals-Page4(gdmnisoadvaCpStNlowanwl 55 ,mw S 2500W.00 WA $ 20833.35 f 2083333 1 20833.33 $ 20,833.33 20.83331 1 E 1250000
Totals-Page 5tPas Has Parnassus] S WA $
Grand total-All Pees b ]BB90W.93 1145 042.35 f 22355383 10935383 E B185383 9685383 2B8240350
The Preliminary Debt Recognized OMIOaXdn Payment Schedule(BOPS)Is to W completer by 3/1/2012 by Me successor a0anq,and eubaeguently be approved by the ovaral,1$13]814881.15 board baton Ne oriel RODS la submitted to Me Smle Con 42 31 1015]I5B3
fitand Stall Daperlment of Finance by Aptl115,2012.It Is riot a rpulroment Mal lM1e Agnetl Upan
Forced..AutlR he completed befifirm submitting the final Overnight Approved ROPS la Me State Compeller and State Depanent of Finance.
AN table due NRrq di year and payment amounts an prgacted
"Funding asuraas from Ma sud,essor agency:(Fa fiscal 201412 only,references A RPTTF could also mean me InerementdllOPbd M Me AgenCy prim to February 1,2812.) (1)August 2012 and September 2012 Debt SeNce Already On Deposit arm Trustee
RPTTF Redaveltyment Propary Tax Trust Fund Banda-Bmtl proceetle Ogrerrecerves,mnLL,lntereat aamings.ac
LMIXF-LOW and MOXSldte In00me Houston Fond Armin:Sacceeegr C Atlm101sbative Allowance
Name M Radevebpmenl agama, Cry of Palm Spiage as 3umessw AgencvoNe Commune ReOevaop en Annincy of theCN of Palm Bn FORMA-ReOsvelopment PropaM Tax Trust Fund JRPTTF)Paget
FrryeCl Mea(a) Merged Roes No,l and Merged Pr00et No
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AS 26-Sec0an.11,V
Total Due Colo9 Payable hod the it"evelopmenl Property Tax Trust Fund(RPTTF)
Coeart/aMreamenl TOM,Oiduard'mg FIYel Year Funding Pe embb more,
NOM Nam./pept OCli ation E E—coxecution Data Pa Commotion Woem Area Debt P,0oli ation 2012-2013" Source Jul 2012 Add 2012 Earn 2012 Cot 2012 Nov 2012 Dac 2012 Total
1 Cooperative Agmarment 1AW2011 Grief Palm Springs UI nsurance Me ed1/Me ed2 44885.00 897700 RPTTF 0488.50 $ 4468.5
21 Coo erarve Agreement 1/18W1 City M Palm Springs Smon Rental Minger,11,10thipled2 1500000 1500000 RPTTF 750000 $ 7500.0
31 Came...n. a marl 1/182011 CI M dPalm$ 5 Samnes Ben and efits Octave ACA Me will ed 133230.00 28648W RPTTF 2220.SO 2 SO 222coul 2.220.SO 2220`50 2,220`SO S 133230
4 Contract Servitas-Consumn 1/142W9 Canyon Commaeual Commord Downtown Comoulmd Ma ed1 108000.00 10800000 RPTIF 1O800.00 IOBOODO 1SRI 1080000 1 432000
RPTTF
B
RPTTF $
2
8 RPTTF RPTTF $
9 $
10 RPTTF
RPTTF
11 RPRF
12 RPTTF
13 RPTTF
14 RPTTF
IS RPTTF
16
1T RPTTF g
RPTTF
16 RPRF
19 RPTTF
201 RPTTF
21
RPTTF
22 RP F f
23
24 RPTTF $
RPTTF
25 JRP-F
28
22
MF
2e $
29 $
30
31
321 S
IOWs-iloa Page(RPTTF F vdin9 Page 2) - E 38111500 15882J oo209 SO 222050 E 13020.50 13020.50 $ 1J 020.50 13020.50 BB St tS
The Prallminary OnR Inion,laed Oble,di n Payment Schedule(ROPS)Is No be completed by 21112012 by Me suttese........d auba,.,D y he.,,owed by Me Dvmtl9M board hot..UHIMPHROPSIssu1m111ed 1a the Stela Controller and State Department of Finance by April 15,2012.It is not a requirement that the Agreed Upon
Pwoedurn Audit be comp) bOI submlXln9 Me final Connaught Approwed HOPS to Me Slate Controlln and Slate Department of Finance.
^at oral due during navel na, ad pay..num...be an protected.
'^Funding sources from Had succ.ssor agency:For 6acal 2011-12 Ony,re eences to RPTTF could also mean 1y Increment allocated W Me Ag.nay pdw M FabuBry 1,2012.)
RPTTF-Rainakeenunl Property Tax Trust Fund Bondr-Bond proceeds Oaten reserves,rents,Interest eamings,etc
LMINF Law and Moderate Income Housing Fund Adult—Buccass.r Mose,Adminlahallva Albwame
r
w ,
Name of RedevelopmeR Agency: Cry M Palm Springs as Successor Agency tohe commune Redeve comenl Agency MlM1e City of Palm Springs FORM B-All Revenue Source.Other ban Redevelopment Prop.,Tax Trust Fund(RPTTFI
Pmlecl Annals) MemM Protect No.t and Merged Protect No 2
DRAFT RECOGNQEO OBLIGATION PAYMENT SCHEDULE
Per As 26-Section 34177 C)
Payable from Other Revenue Sources
CwVaNAgmarms. Total pue Wring payment,p an nth Thal G utetanding Fis eel Ypal
Pro act Name/Debt Obi.ion Execu11on 0ele Pa ee Oesai Ilan ProestArea Oebl or Obll a4on 2012-201J" Fundin July 2012 Aug2012 Sept 2012 Oct 2012 Nov 2012 Dec 2012 Told
1 Leese/SubleaseA reemenl 1/19I2000 VIP MOIon property Lease Merged 1 39600000E 66000000 Lease Income 550000 5500000 M.003.00 55.000.00 55000.c0 550.00 $ 330,00000
21
5
$
_61 E
T
E
a
$
a
$
1E
f
11 b
t2
13
W
$
15
$
16
n
b
t6
t9
20 S
ILI
E
22
$
231 S
2a
25
26
E
17 $
28 $
29
$
30 $
31
ES330,00000
33)Totals-LMIHF
TgteSBonO ProcaedaTOIaIs ONer § 396E 0 $ 6600000E 55,c00.0D 550000E $ 55c00W $ SSW000 E 55000W $ 55000Grand lotal-TMsPea 39800N00 $ 66 E 55W000 550W.00 $ 550W 00 550000E $ 55W000 $ 55,000
' The Pnlimlnery Draft Recognised Obligation Payment Schodule(ROSE)Did be completed by 31112012 by Meauc...a.,a,enc,,end aubaequanpy be approved by In.ovanlght board before the Puts ROPE IssubmlNed M th,Btate Controller and State Department of Finance by And[15,2012.11 le not a requlrement that the
Agreed Upon Procedures Audit be completed before submlBing Me final Onslaught Approved RODS to the State Controller and State Department of Finance.
"All total due during fiscal year and payment amounts any pmfected.
^'Funding$some$Soup Me successor agency(For Decal 201142 set refamnces to RPTTF could also mean tax Increment allocated M the Agency prior to February 1,2012.)
RPTTF-Redevelopment Property Tax Trout Fund Duane-Be"pro ceeds DIM,maa—a,r$M.,inlerest aemhgs,etc
LMIHF-Low and MMerato Income Housing Fun Admla-5ucn..DIA enc Ad.I.I.A Uh.Allowms.
F.a
Name of Redevelopment Agency: City of Palm Springs as Successor Agency to the CommunRy Redevelopment Agency of the City of Palm Springs FORMC-Administrative Coat Allowance Paid With Redevelopment Property Tax Trust Fund RPTTF)
PrgleO Area(s) Merced Protect No.1 and Merged Pmlect No.2
DRAFT RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Par AS 26-Section U177(I
Payable from the Administrative Allowance Allocation""
Tplal Due During Outstanding Fiscal Year ourceg Pe mans b month
project Name Debt Obligation Payne Oescd lion Pro eq TArea Debtebt Or Obl' alion 2012-Z013" Source" July 2012 Aug2012 Se t2012 ON 2012 Nov 2012 Dec 2012 Total
t)Adruirstretive Cost Allowance CKy of Pat.S d s 0,on d Cost Allocation Merged 111.1e ed2 5,500,000.00 250000.00 RPTTF 20833,35 20833.33 20,833,33 20833.33 20.833.33 20833.33 $ 125,000.00
2 $
3 $
41 S
5
B $
1 $
B $
9 $
10 $
11 $
12 $
13 $
14) $
15 $
18 $
11 $
18 $
19 S
20 $
21 $
22 $
231 $
34 S
25 $
26 $
21 $
8 $
$
$
$
S
Totals-This Page 5.500 000.00 S 250 000.00 1 Is 20 833.35 $ 20 833.33 IS 20 833.33 20 833.33 S 20 833.33 20,BW.33 5125 000.00
The Preliminary Draft Recognized Obligation Payment Schedule(BOPS)Is to be completed by 31112/112 by the aegcessor agency,and subsequently be approved by the Oversight board before the final SOPS le submitted to the State Controller and Slate Department of Finance by
April 15,2012. It is not a requirement that the Agreed Upon Procedures Audit be completed before submitting the final Oversight Approved ROPS to the State Controller and State Department of Finance.
All total due during Bscal year antl payment amounts era protected.
"Funding sources from the successor agency: (for Oscal 2011-12 only,references to RPTTF could also mean tax Increment allocated to the Agency prior to February 1,2012.)
RPTTF-Redevelopment Property Tax Trust Fund Bond.-Bond p,.castle Other-reserves,rents,interest earnings,she
LMIHF-Low and Moderate Income Housing Fund Admin-Successor Agency Administrative Allowance
'-Administrative Cost Allowance caps am5%of Form A6-monthtottls In 201142 and 3%of Form A S.rnonth totals In 2012-13. The calculation should not factor In pass through payments paid for with RPTTF In Form D.
I.-
Tf
Name of Redevelopment Agency City of Palm Springs as Successor Agency to the Community Redevelopment Agency of the City of Palm Springs FORM D-Pass-Through Payments
Project Areas) Merged Priest No.1 and Merged Protect No,2
OTHER OBLIGATION PAYMENT SCHEDULE
Per AS 26-Section U177(•)
Pass Through and Other Payments"•'
Total Due During Payments by month
Total Outstanding Fiscal Year Source of
Project Name l Debt Obligation Payee Descnpt,cn Protect Area Debt or Oblinabon 2012-2013'• Fund"' July 2012 AW 2012 Set 2012 Oct 2012 Nov 2012 Dec 2012 Total
1 All Passthrou h Obligations Will be Paid by the County Auditor Controller Directl not the,Successor A gency $
$
3 $
4 $
5 $
6 $
T $
8 $
g
10 $
11 $
12 $
13 $
14 $
1s $
a
8
$
s
$
a
8
$
$
$
$
a
Totals-Other Obligations f f f E $ f $ E $ $
The Preliminary Draft Recogalued Obligation Payment Schedule(ROPS)Is to be completed by 311/2012 by the successor agency,and subsequently be approved by the oversight board before thefinal HOPS is submitted to the State Controllerand State Department of Finance y
April 15,2012. It Is not a requirement Mal Me Agreed Upon Procedures Audit be completed before submitting the final Oversight Approved ROPS to the BMW Controller and State Department of Finance.
•'All total due during fiscal year and payment amounts are projected.
Funding sources from Me successor agency: (For fiscal 201142 only,references to RPTTF could also mean tax increment allocated to Me Agency inner to February 1,2012.1
RPTTF-Redevelopment Property Tax Trust Fund Bonds-Bond proceeds Other-reserves,rents,interest earnings,etc
LMIHF-Low and Moderate Income Housing Fund Admin-Successor Agency Administrative Allowance
'-Only Me January through June 2012 ROPS should Include expenditures for pass-through payments. Starting with Me July through December 2012 ROPS,per NBC section 34183(a)(1),Me county auditor controller will make the required pass-through payments prior to
transferring money Into the successor agency's Redevelopment Obligation Retirement Fund for Item.listed In an oversight board approved ROPE.
Fe
07
Name of Redevelopment Agency: Community Redevelopment Agency of the City of Palm Springs Paget of 6 Pages
Project Areas) Merged Project No.1
INITIAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AS 26.Section 34167 and 34169
Total Outstanding
Debt or Obligation Source of Pa laments b monthas
of June 30, Total Due During
Project Name/Debt Obligation Pa ee Description 2011 Fiscal Year" Payment r Jul-Dec Jan" Feb Mar Aril May June Total
1 2004 Tax Allocation Refunding Bonds Series A Bank of New York Mellon Tmst Refinance 1994 Tax Allocation Bonds 24,470,886 1,947,261 RPTTF 824,564 1,122,703 1.122]03
_21 2007 Tax Allocation Bonds Sens A Bank of New York Mellon Trust Capital Pro acts 23,960,388 928,838 RPTTF 309,613 619,225 619,225
3 2007 Taxable Tax Allocation Bonds Series Bank of New York Mellon Trust Progeny Acquisition 3854458 175941 RPTTF 58647 117294 117,294
4 SERAF Loans Low Mod te.eeng Furd Loans for FY 2009110 and 2010111 SERAFP 5069848 IB13969 RPTTF 1.013969 1,013S69
5 CI Loanend Interest Remained by du California De artrient of Finance RPTTF 0 0
61 Loan Low Mod Housing Fund Loan to Merged Project No.1 148.632 74,316 RPTTF 74,316 74 316
] H....no Deferral Repayment Low Mod Housin FunO Pre-1988 Set Asitle Defertal 1,532,669 RPTTF 0
8 2004 Convention Center Bonds CI of Palm S rin s A enc Contribution to Convention Center Ex 29,900,000 1,300,000 RPTTF 650,000 650,000 650,000
9 A reement for Reimbursement Removed by the California Dena and of Finance RPTTF 0 0 0
10 Cooperative Agreement C' of PatjSpna,
Springs Salaries and Benefits 4,600.000 214.799 ACA 107,399 17900 17,900 17,900 17,900 17.900 17.900 107.400
11 CooperativeA reement Ci of PalSprings Insurance 181300 9065 ACA 4533 2268 2266 4532
12 Cooperative A reement Cityof Pat s Administrative Char es 3145200 15]260 ACA ]8630 3g315 39315 ]8630
13 Coo erativeA reement Ci of Pa s Materials and Su lies 336440 16822 ACA 5]58 1844 1844 1,844 1,844 1844 1844 11064
14 Coo ra0veA reement Ci of Pa s Bulldin Rental 210000 10500 ACA 10500 0
15 Contract Services-Audit Lance Sollhard Audit Services 1]29J0 6900 ACA 4,400 1000 1500 2500
i6 Contract Services-L al Woodm6S GeneralL al Counsel 1244600 49784 ACA 15281 51'50 5]50 5T50 5,]50 5750 5]53 34503
1] Contract Services-le al Best Best& r Redevelo mentS ecial Counsel 14402 14402 ACA 14402 0
18 Contract Services-Consultin Terra Nova , Consultin Services 3053 3053 ACA 3053 0
19 Contract Services-Consul6 Canon Coial Consultin Dowolosvn Consultin 144,000 144000 Fund Balance 54000 15000 15000 15,000 15,000 15000 15,000 90000
20 Contract Services-Consoltn Keser Ma Financial Analsis Services 11640 11640 Fund Balance 11640 0
21 Contract Services-Financial HartellBCAtivisors Bond Disclosure and Financial Analsis 230000 10000 ACA 2500 2500 2500 2600 10000
22 2011 O nP0-Audit Lance Sell&Lun hard Audit Services 1530 1530 Fund Balance 1530 0
23 20110 en PO-Financial Harrell&Com an Advisors Bond Disclosure and Financial Analysis 6657 8657 ACA 6,657 8657
24 Property Tax Coun of Riverside Program Tax on Aculr<ed Pro - 8WO 8000 RPTTF - 81000 8000
25 Contract Services-Olier e. ,rebels calc Various Venous Consultin Services 138],797 60339 ACA 339 10000 16000 10000 10,000 1 10000 10000 60000
26 Property Tex Collection Fees Removed by the California Department of Finance 0 RPTTF 0
27 Bond Trustee Fees Bank of New York Mellon Trust I Trustee Fees 161,000 6,360 ACA 6,360 0
28 Contract Services-Consultin Keser Marston Consultin Services-PacMC Hospitably25,243 25243 RPTTF 0 25,243 25243
29 Pacific Hospitality Jud meet Pacific Hos lull Judgment as Determined by Court To be Determined To be Determined RPTTF 0 0
30 Contract Services-Financial Harrell&Coi IEOPS and ROPS Consulting 6,538 6,538 ACA 0 6,538 6.538
0
Totals-This Page 100826781 6.203223 2160649 2559716 134,013 54,494 60.994 92075 1141282 4,042574
Totals-Paget 9353947 3180395 649510 55,480 51,199 657,848 250,400 250400 1315557 2,580884
Totals-Page 3 2634735 1 2.634735 0 1.289,974 0 242,689 0 0 1.102072 2,634735
Totals-Page 4 i 49317136 1 4,404019 1.140688 2444549 46146 26,826 97,269 45.145 601126 3,262918
Totals-Page 5 1 1419170 1 4191]0 0 495.367 0 110.785 0 0 813018 1.419.170
Totals-Page fi
Grand fetal-All Pages 1]2830051 20,]16026 5,8]3238 ]330,893 2]0,541 11 44825 430,452 424303 6221,505 14,]923 66
RPTTF=Redevelopment Property Tax Trust Fund
LMIHF=Low and Moderate Income Housing Fund "Includes Bond Debt Service Due In August and September 2012
ACA=Administrative Cost Allowance
I"+
Name of Redevelopment Agency, Community Redevelopment Agency of the City of Palm Springs Page 2 of 6 Pages
Project Area(s) Merged Protect No.1
INITIAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26-Section 34167 and 34169
Outstanding
Debt or Obligation
as of June 30, Total Due During Source of Payments b month
Pro act Name l Debt Obligation Paee Descritlon 2011 Fiscal Year Payment Jul-Dec Jan Feb Mar Ant MaJON .3W
1 20110 nPO-Animal Shaker Mien F Smoot B Associates Animal Shelter Construction 32,856 32856 Bond Proceeds 32856 0
Z 20110 nPO-Animal Shelter SwatVkleiis Architects Animal Shelter Construction 15479 15479 Bond Proceeds 15479 0
3 2011 O en PO-Animal Shatter Planit Reprographics Amaral Shelter Construction Bond Proceeds 0
42011Open PO-Animal Shelter Inersoll Rand Security Animal Shelter Construction 25934 25934 Bond Proceeds 25934 0
52011Open PO-Animal Shelter West Test Communications Animal Shelter Phone System 9,027 9027 Bond Proceeds 9027 0
B 2011 Open PO-Animal Shaker Moore lambino Goksman Downtown Design Bond Proceeds 0
] 2011 Open PO-Animal Shelter Schroer MfgCo Animal Shelter Kennels and intake Copies 17.619 17,619 Bond Proceeds 17,619 0
8 2011 Open PO-Animal Shelter Lake State Industries Animal Shelter Cages 4469 4469 Bond Proceeds 4.469 0
9 2011 Open PO-Construction Ruck Engineering S Palm Canyon Widenin 5198 5198 Fund Balance 5198 0
10 Grounds Maintenance Various Operator,of Acquired Properly 160,000 8000 RPTTF 8000 400 400 400 400 4000
it ContinuingAppropriations Van... Animal Shelter Construction Bond Proceeds 98,915 98,915 Bond Proceeds 98.835 80 0
12 Cont hili A ro naEoms Various COD Master Plan 101449 101449 Fund Balance 650 SO 799 50000 9
13 Continuing Appropriations Vanous Desert Faehion Plaaa Vision 3444 3444 Fund Balance 3,444 0
14 ContinuingAppropriations Various Ca ital Projects 765.557 765557 Fund!Balance 250.000 250,000 2500007
15 Dis stio and Development Agreement Endure Investments Financial Assistance 554000 277000 RPTTF 227.000 0
ifi Dis ostion and Development A reement Endure Investments Financial Assistance 1400,000 RPTTF 0
17 Owner Partici nim,Agreement VIP Motors Financial Assistance 900,000 130448 RPTTF 1W 448
18 Lease/SubleaseAreement VIP Motors Pro Lease 3,980000 385000 Lease Income 330,000 55000
19 Flood Control Trust Fund Vanous Flood Control Tax Sharing A anc Account 1300,p00 1,300000 RPTTF O
20 0
21 0
2] 0
23 II
2.4 _ — 0
25 0
26 0
2] 0
28 0
29 0
30 0
311 0
32 0
33 0
34 0
35 0
L61 0
3) 0
38 0
39 0
40 0
. 65846 2540Totals-This Page 9.353,947 3,180.395 549,510 460 199 T 250,400 1,315,55) 2,580.884
RPTTF=Redevelopment Property Tax Trust Fund
I"ZMIHF=Low and Moderate Income Housing Fund
12kCA=Administrative Cost Allowance
Name of Redevelopment Agency: Community Redevelopment Agency of me Oily of Palm Springs Page of 6 Pages
Project Area(s) Merged Project No.1
INITIAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26-Section 34167 and 34169
oral Outstanding
Debt or Obligation
s of June 30, Total Due Dunng Source of Pa menls by month
Pared Name)Debt Obligation Payed Description 2011 Fiscal Year Payment I Jul-Dec Jan Feb Mar A dl May June Total
_11 SB 211 Payment�Riverside County Riverside county Tax Sharing Pursuant to Section 3360]] 8,691 8.691 RPTTF 8,691 8,691
2 88211 Pament-Ci of PalmStl City of Palm Sn s Tax Stands Pursuant to Section 3W07.7 96.765 96765 RPTTF 96765 96]65
31 SB 211 Payment-Palm Springs Unified School Dir Palm Stomps Unified School District Tax Shanno Pursuant W Section 33607.7 87,957 87,957 RPTTF 87,957 87,957
4 S8 211 Payment-Calle a of the Desert College of the Desert Tex Sharing Pursuant to Section 33607.7 25,09 25,00 RPTTF 25,009 25,009
5 S8211 Pament-Coun Office of Education Count Office of Education Tax Sharing Pursuant to Section 33607.7 13659 13659 RPTTF 13659 13659
_61 SO 211 Payment-Riverside Counti Regional Part Riverside County Regional Park Tax Sharing Pursuant to Section 33807.7 1 419 1,419 RPTTF 1,419 1.419
] SB 211 Payment-Riverside County Flood Control Riverside County Fiscal Control Tax Shandog Pursuant to Section 33 7.7 3140 3140 RPTTF 3140 3140
8 SB 211 Pament-Cemeta District Cemetery District Tax Sharing Pursuant to Section 33607.7 86 88 iRMF 86 86
9 SB 211 Pament-Hosital Distinct Hospital District Tax Sharing Pursuant to Section 33607.7 6661 8661 RPTTF 8661 6661
10 SB 211 Pament-Mo uito Abatement District Mosquito Abatement Distnct Tax Sharing Pursuant to Section 33607.7 422 422 RPTTF 422 1 422
1111 SB 211 Payment-Resource Conservation District Resource Conservation Distinct Tax Sharing Pursuant to Section 33607.7 40 40 RPTTF 40 40
12 SB 211 Pament-Coachella Valley Water District Coachella Valley Water Dead Tax Shannig Pursuant to Section 33607.7 3 3 RPTTF 3 3
13 SB 211 Payment-CVWD SIonn Water Distinct CVWD Storm Water Distnct Tax Shanxi Pursuant to Section 33607.7 4 4 RPTTF 4 4
14 Contractual-Riverside County Riversitle County Tax Sharing Pursuant to Section 33401 1197146 1197146 RPTTF 1197146 1197146
15 Contractual-Riversitle Count Deferral Riverside County Tax Sharing Pursuant to Secbon 33401(De f 530585 530585 RPTTF 530585 530585
161 Contractual-Palm listings Unified School District Palm Springs Unified School District Tax Sharing Pursuant to Section 33401 198055 198055 RPTTF 198,055 198 055
17 Contractual-College of the Desert College of the Desert Tax Shanno Pursuant to Section 33401 56,531 513,5311 RPTTF 56.531 56,531
18 Contractual-County Office of Education County Office of Education Tax Sharing Pursuant to Section 33401 30.756 30,756 RPTTF 210,756 30,756
19 Contractual-Riverside County Flood Control Riverside Count Flood Control Tax Sterna Pursuant to Section 33401 92,828 92,828 RPTTF 92,828 92 828
20 Contractual-Cemeta District Cemetery District Tax Sharply Pursuant to Section 33401 4.105 4105 RPTTF 4105 4105
21 Contractual-Mo uito Abatement District Mosquito Abatement District Tax Sharing Pursuant to Section 33401 38184 38184 RPTTF 38184 38184
22 Contractual-Coachella Valley Water District Coachella Valley Water Distinct Tax Sharing Pursuant to Section 33401 0 0 RPTTF 0
23 Contactual-Desert Water Agency Desert Water Agency Tax Sharing Pursuant to Section 33401 17557 17557 RPTTF 17557 _ 17557-
_ 241,Contractual-Dosed Water Agency OS Override Desert Water.Agency Tax Sharing Pursuant to Section 33401 225132 225132 RPTTF 1 225.132 1 225132
25 0
26 0
2] 0
28 0
29 0
0 0
31 0
32 0
33 0
34 0
35 0
Sal 0
271 0
38 0
39 0
col 0
Totals-This Page 2634,735 2.634.735 U1,289,9741 0 242.689 0 10 1,102,072 2,634,735
RPTTF=Redevelopment Property Tax Trust Fund
LMIHF=Low a"Moderate Income Housing Fund
ACA=Administrative Cost Allowance
Name of Redevelopment Agency: Community Redevelopment Agency of the Chv of Palm Springs Page of 6 Pages
Project Areas) Merged Protect No.2
INITIAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Outstanding
Debt or Obligation
as of June 30, Total Due During Source of Pa merits by al
Project Name l Debt Obligation Payee Description 2011 Fiscal Year Payment Jul-Dec Jan" Feb Mar Aril May June Total
i 2004 Tax Allocation Refunding Bonds Series B Bank of New York Mellon Trust Refinance 1994 Tax Allocation Bonds 14 453 293 1,003 384 RPTTF 390,628 612]56 612,756
_21 M07 Taxable Tax Allosesen Bonds Spirits Bank of New York Mellon Trust Property Acquisitor, 12407609 848503 RPTTF 325164 523339 523339
3 City Loan and Interest Removed by the California Dread Operating and Administrative Costs RPTTF 0
_41 Agreement for Reimbursement City of Palms dos PSL-236 Lease 3400000 122892 RPTTF 110000 12892 12892
_51 Agreement for Reimbursement City of PalmSprings Sustaidabdi Partial Prepayment of PSL 236 Lease 1125436 1125436 RPTTF 1125436 1125436
6 2004 Convention Center Bonds City of Palms rin s Agency Contribution to Convention Center E, 6900000 300000 RPTTF 150000 150000 150000
_71 Aare....t for Reimbursement Removed by the California Department of Finance RPTTF 0 0
6 Cooperative Agreement City of Palm Somalia Salaries and Benefits 5.540.000 214.798. ACA 107,398 17,900 17,900 17,900 17,900 17900 17,900 107 400
8 Cooperative Agreement City of Palm Springs Insurance 177.764) 8,888 ACA 4,444 2,222 2,222 4,444
10 Corbeled.Ad reement Cl1Y of Palm Springs Administrative Cha es 1,509,220 75.461 1 ACA 37.596 18,798 18,797 37,595
11 Coo native Agreement CftydfPalm S rings Materials and Supplies 212,420 10,621 ACA 2.701 1.320 1.320 1.320 1 1.320 1,320 1,320 7,920
12 Cisagre.6w,Annulment City of Pat.Spruce Buklirm Rental 90000 4500 ACA 4500
13 Contract Services-Audit Lance Sell A Lunhard Audit Services ]]500 3100 ACA 1400 1000 1700
14 Contract Services-Le al Woodruff 5 sadlm General al Counsel 197,900 7,916 ACA 2480 906 906 906 906 5.436
15 Contract Services -Finarl Tarsal B CompanyAdvisors Bond Disclosure and Flnanoial Analysis 184.000 8000 ACA 2000 2000 8000
L6 Contract Services-Other e. rebate talc Various Various Consulting Services 460000 20000 ACA 4000 4000 4000 20000
i] Bond Trustee Fees Bank of New York Mellon Trust Trustee Fees 161 000 4,520 ACA 4,377
16 Property Tax Collection Fees Countyof Riverside SB 2567 Fees 1848000 71000 RPTTF 71000
19 Flood Control Trust Fund Various Flood Control Tax SharingAgency Account 575,000 575,000 RPTTF 575,000 575,000
20 _
21
22
23
24 _- im _
25 -
26
2]
28
29
30
31
32
33
34
35
36
3]
38
39
40
Tend.-This Page $ 49,317,13800 4,404,019 1,140,688 2.444.649 48,146 26,828 9],269 45,145 601,126 3,262,918
RPTTF=Redevelopment Property Tax Trust Fund '•Includes Bond Debt Service Due in August and September 2012
LMIHF=Low and Moderate Income Housing Fund
ACA=Administrative Cost Allowance
Name of Redevelopment Agency: Community Redevelopment Agency of the City of Palm Springs _ Page of 6 Pages
Project Arcata) Merged Proiecl No.2
INITIAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AS 26-Section 34167 and 34169
an ing
Debt or Obligation
as of June W. Total Due During I Source of Payments by month
Project Name l Debt Obligation Payee Description 2011 Fiscal Year Paymen[ I Jul-Dec Jan Feb Mar Aril May June Total
11 S6211 Pament-Riverside County Riverside County Tax Sharing Pursuant to Section 336077 0 0 RPTTF 0 0
2 SB 211 Payment-Ci of Palm S min s City of PalmSpring. Tax Sharing Pursuant to Section 33607.7 33470 33470 RPTTF 33470 33,470
3 S5211 Payment-Palm S rin sUnfied School Di PalmSprings Unified School District Tax Sharing Pursuant to Se 54 Section 336077 65 6554 RPTTF 6554 6,554
41 SB 211 Pamenl-College of the Desert Claleas,of tie Desert Tax Streanna Pursuant to Section 3%07.7 1871 1871 RPTTT 1871 1.871
5 SB 211 Pament-Coun Office of Educabon County Office of Education Tax Sharma Pursuant to Section 336077 1018 1018 RPTTF 1018 1018
6 SB 211 Payment-Riverside CountyRegional Par Riverside Count Regional Park Tax SharingPursuant to Sargon 3360].7 492 492 RPTTF 492 492
] SB 211 Payment-Rvanside County Flood Control Riverside County Flood Control Tax Sharing Pursuant to Section 33607,7 0 0 RPTTF 0 0
8 S8211 Pament-Cemeta District Cemetery District Tax Sharma Pursuant to Section 33607,7 180 180 RPTTF 180 180
9 58211 Pa merit-Hos iMi District Hos ital District Tax Sharing Pursuant to Section 336077 2304 231M RPTTF 2304 2304
10 SB 211 Payment-Mo n uilo Abatement Flaunt Mo ailo Abatement District T.Shad Pursuant to Section 336077 0 0 RPTTF 0 1 0
11 S8211 Payment-Resource Conservation Distinct Resource Conservation District Tax Shanno Pursuant to Section 33607.7 0 0 RPTTF 1 0 1 0
12 SB 211 Pamenl-Coachella Valley Water District Coachella Valley Water District Tax Sharon Pursuant to Section 3361 0 0 RPTTF 0 0
13 SB 211 Payment-CVWD Storm Water District CVWD Storm Water District Tax Sharon Pursuant to Section 33607.7 0 0 RPTTF 0 0
14 Contractual RiversideCounty Riverside County Tax Sharing Pursuant to Section 33401 903110 903110 RPTTF 451565 451555 903,110
15 Contractual-Palms inn s Unified School District PalmSprings Unified School District Tax Sharing Pursuant to Section 33401 184829 184829 RPTTF 184829 184,829
16 Contractual-College of the Desert Celli of the Desert Tax Sharing Pursuant to Section 33401 52.756 52,766 RPTTF 52,756 52,756
17 Contractual-Counly Office of Education Counly Office of Education Tex Shanna Pursuant to Section 33401 31,109 31,109 RPTTF 31,109 31.109
18 Contractual-Riverside County Flood Control Riverside County Flood Control Tax Sharon Pursuant to Section 33401 60,746 60,746 RPTTF 43,812 16,934 60,746
19 Coni-Ciametary District Cemetery Di Viol Tax Sharing Pursuant to Section 33401 919 919 RPTTF 919 919
20 Contractual-Mos uite Abatement District Mos uito Abatement District Tax Sharing Pursuant to Section 33401 0 0 RPTTF 0 0
21 Conraclual-Coachella Valley Water Distinct Coachella Valley Water Distinct Tax Sharing Pursuant to Section 33401 29027 29027 RPTTF 29027 29.027
22 Contractual-Desert WaterAerwy Desert Water Agency Tax Sharing Pursuant to Secbon 33401 8257 8257 RPTTF 8257 8257
23 Contractual-Desert Water Agency DS Override Desert Water Agency Tax Shanno Pursuant to Section 33401 102528 102,528 TTF 10i 102528
25 0
26 0
27 0
28 0
29 0
30 0
31 0
32 0
33 0
0
35 0
36 0
37 0
38 0
39 0
40 g
Totals-This Page 1,419,tID 1,419,170 495,367 0 110,785 0 0 813,018 1419,P0
AT2PTTF=Redevelopment Property Tax Tonsil Fund
H4MIHF=Low and Moderate Income Housing Fund
ACA=Administrative Cost Allowance
Name of Redevelopment Agency'. Community Redevelopment Agency of the City of Palm Springs page 6 of 6 Pages
Project Areas) Low and Moderate Income Houisng Fund Obligations
INITIAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Total u an ing
Debt or Obligation
as of June 30, Total Due During Source of Is .ants by month
Project Neme/Debt Obligation Payee Description 2011 Fiscal Year Payment Jul -Dec Jan" Feb I Mar April May June Total
1 2001 Housing Tax Allocation Bonds Bank of New York Mellon Trust Refinance 1991 Housing Tax Allocation Bon 5 030 290 834,352 LMIHFIRPTTF 36883,1 465.518 465,518
2 Housing Pro acts and Programs To Be Determined Restricted Sale Proceeds to be used for Law 162630 162630 LMIHF 162630 162.630
3 20%Housing Set Aside Removed by the California Department of Finance RPTTF
4 Nightecorale Manor improvements Low Mod Housing Fund Low Mod Housims Poo act 60000 60000 LMIHF 60,000 60,000
5 Sunset Palms Apartments Low Mod Housing Fund Low Mod Housing Pro act 1500000 1500000 LMIHF 1500000
6 NlndiargSan Rafael Pro'act Low Mod Housing Fund Low Mod Hotairm Pro act 4500 4,500 LMIHF 469 4,031 4.031
1 CosperablvisAgreement City of Palm Sproas Salaries and Benefits 6,000000 232689 ACA 116.289 19.400 19400 19,400 19,400 19,400 19,400 116400
e Candarairve A reament City of Palm Boom. Insurance 35660 1.783 ACA 892 446 446 892
9 Cooperative Agreement City of Palm Sponge Administrative Charges 1195800 59790 1 ACA 29895 14948 14948 29896
10 Cooperative Agreement City of Palm Sprind. Materials and Supplies 152,400 7.620 ACA 2.286 889 889 889 889 889 889 5 334
11 Cooperative A reement CityfPalms Facts. Building Rental 20000 1000 ACA 1000
12 Contract Services-Audit Lance Sof&Lurahand Audit Services 25000 1000 ACA 606 394 394
131 Bond Trustee Fees Bank of New York Mellon Trust Trustee Fees 22,000 2120 ACA 2,120
14 Contract Services-Financial Harrell&Company Advisors Bond Disclosure and Financial Analysis 20,000 2,000 ACA 500 500 500 500 2,000
15 Contract Services-Other .. .rebate talc Varous Various Consulting Services 50000 5000 ACA 1000 1000 1000 1000 11000 5,000
16
1]
18
19
20
21
22
23
24
25
26
2]
28
29
30
31
32
33
34
35
36
3]
38
39
40)
Totals-This Page $ 14,2782811.00 2,874,484 2,022,391 465,807 37,183 22,183 21,789 36,683 248,450 852,095
RPTTF=Redevelopment Property Tax Trust Fund "Induces Bond Debt Service Due in August and September 2012
r.MIHF=Low and Moderate Income Housing Fund
[%CA=Administrative Cost Allowance