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Staff Report
DATE: January 18, 2012 UNFINISHED BUSINESS
SUBJECT: Approval and Transmittal of Enforceable Obligations Payment
Schedule (EOPS) and Approval and Transmittal of Draft
Preliminary Initial Recognized Obligations Payment Schedule
(IROPS) Pursuant to Section 34169(g)(1) of California Health &
Safety Code
FROM: David H. Ready, Executive Director
BY: Community & Economic Development Department
SUMMARY:
On December 29, 2011, the California Supreme Court upheld AB 1X 26, which
dissolves all of the redevelopment agencies in the State of California, and struck down
AB I 27, which allowed redevelopment agencies to remain in existence if such agency
opted to the "Voluntary Alternative Redevelopment Program" ("VARP"). The VARP
included payment of an annual remittance to the County Auditor-Controller. AB 1X 26
(Health and Safety Code Section 34169(g)(1)) required agencies to submit an
Enforceable Obligation Payments Schedule (EOPS) within 60 days of the effective date
of Part 1.8, or by August 28, 2011. The EOPS had to be adopted at a public meeting
and then posted on the agency's or its jurisdiction's website. It also had to be submitted
to the County Auditor-Controller, the State Controller's Office and the State Department
of Finance.
The Agency approved an Enforceable Obligations Payment Schedule on August 25,
2011; one additional requirement was the adoption of a "draft" preliminary Initial
Recognized Obligation Payment Schedule (IROPS) by September 30. 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.
The California Supreme Court decision extended certain dates and therefore changed
the periods covered by the EOPS and IROPS, and such schedules must be revised and
approved.
ITEM NO.
Community Redevelopment Agency Staff Report
Enforceable Obligations and Recognized Obligations Payment Schedules
January 18, 2012
Page 12
RECOMMENDATION:
Adopt Resolution No. "A RESOLUTION OF THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS AUTHORIZING THE
APPROVAL AND TRANSMITTAL OF AN ENFORCEABLE OBLIGATIONS PAYMENT
SCHEDULE (EOPS) AND APPROVAL AND TRANSMITTAL OF A DRAFT
PRELIMINARY INITIAL RECOGNIZED OBLIGATIONS PAYMENT SCHEDULE
(IROPS) PURSUANT TO ASSEMBLY BILL 1X 26 (AB1X 26)
STAFF ANALYSIS:
In January, 2011, the Governor proposed ending the 425 local redevelopment agencies
in California, in a move to secure $1.7 billion in local property taxes to be used to patch
the State's $25 billion budget deficit. The Legislature passed AB1X 26, which was
intended to abolish redevelopment agencies by October 1, 2011: it required that all
agency activities be terminated, except for the implementation of existing obligations.
The unwinding of a redevelopment agency would be overseen by a successor entity
designed to liquidate the Agency's assets as rapidly as possible.
After these bills became effective on June 29, 2011, agencies were prohibited from
entering into any new agreements until they have enacted an ordinance committing to
make the payments as required by ABIX 27.
On December 29, 2011, the California Supreme Court upheld AB1X 26, which dissolves
all of the redevelopment agencies in the State of California, and struck down AB1X 27,
which allowed redevelopment agencies to remain in existence if such agency opted to
the "Voluntary Alternative Redevelopment Program" ("VARP"). In the case of Palm
Springs, the first year payment under the VARP would have been over $3.4 million, with
subsequent annual payments over $800,000. Since the Agency will now be dissolved
under the Supreme Court order, those payments are no longer required.
In the California Supreme Court decision, the Court also extended certain deadlines,
including the deadline for making the election to become the Successor Agency and
Successor Housing Agency, to January 13, 2012. The date of dissolution was moved
from October 1, 2011 to February 1, 2012 and certain other deadlines were moved
forward by four months.
Additionally, AB1X 26 (Section 34169(g)(1)) required Agencies to submit an
Enforceable Obligation Payments Schedule (EOPS) within 60 days of the effective date
of Part 1.8, or by August 28, 2011. The initial EOPS was adopted at a public meeting
and then posted on the City's website and was submitted to the County Auditor-
Controller, the State Controller's Office and the State Department of Finance. Section
34167(h) provides that after the EOPS is adopted, the Agency shall not make a
payment unless the obligation is listed on the EOPS (other than payments required to
meet obligations with respect to bonded indebtedness).
02
Community Redevelopment Agency Staff Report
Enforceable Obligations and Recognized Obligations Payment Schedules
January 18, 2012
Page 13
The law required that the Agency indicate payments from September through
December of 2011. The adoption of the EOPS allowed the Agency to continue to pay
bills for projects and activities that were allowed to continue under AB1X 26, and
established the obligations that allow the City/Agency to continue with existing projects
without a redevelopment agency. An updated EOPS must now be adopted by January
31, 2012 covering the period January 1, 2012 to June 30, 2012. The schedule includes
a list of all the Agencys enforceable obligations for housing and non-housing funds,
including:
o Project name
o Payee
o Short description
o Monthly payment through June 30, 2012
Payment schedules for bonds and payments to employees were aggregated.
Enforceable obligations are defined in Section 34167(d) as bonds, loans, payments
required by other governmental entities, judgments or settlements, any legally binding
and enforceable agreement or contract, and contracts and agreements for agency
administration or operation costs. The procedures for adopting an EOPS are:
• Must be adopted by the agency at a public meeting (no public hearing is
required)
• Must be posted on either the agency's or legislative bodys website
• Copies of the EOPS, or its location on the website, must be transmitted to county
auditor-controller, State Controller, and Department of Finance
Enforceable Obligation List:
The State Controller originally provided a format for the payment schedule, which, as
revised to reflect the change in dates from the original format, is attached as Exhibit A to
the Resolution. The Agency has a series of tax allocation bonds, which are shown on
Lines 1-8 of the EOPS. The Agency also has statutory pass through payments and a
number of annual tax sharing agreements based on SB 211. The other obligations
include the payment of loans from the City to the Agency, as well as reimbursements
from the Agency to the City for administrative services, including staff costs, auditing
and legal services. The EOPS also includes obligations under owner participation
agreements and disposition and development agreements.
In addition, the Agency was also required to approve a "draft" Preliminary Initial
Recognized Obligation Payment Schedule (IROPS). The first IROPS was due by
September 30; the updated IROPS, like the EOPS, is due by January 31, 2012. The
IROPS must list 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
03
Community Redevelopment Agency Staff Report
Enforceable Obligations and Recognized Obligations Payment Schedules
January 18, 2012
a 14
schedule covering the period from January 1, 2012 to June 30, 2012. The City will
become the Successor Agency on February 1, 2012. The schedule also identifies a
source of payment for each recognized obligation from one or more of the following:
1. Low and Moderate Income Housing Fund;
2. Bond Proceeds;
3. Agency Reserve Balances;
4. Administrative Cost Allowance;
5. Redevelopment Property Tax Trust Fund (formerly tax increment), but only to the
extent no other source is available; or
6. Other revenue sources.
Once the Agency is dissolved on February 1, 2012, the Successor Agency will finalize
the IROPS and will submit it to the Department of Finance and County Auditor-
Controller. The IROPS will establish the payments to be made during wind-down
activities of the Agency.
--y.
ohn ay o d, Director of Geoffrey Kiehl, Director of Finance/
muni Economic Dev Iopment City Treasurer
1
David H. a/dy, E irector Tom Wilson, sistant City Manager
DouglaA C. Holland, City Attorney
Attachments:
1. Resolution
2. Enforceable Obligations Payment Schedule (EOPS) (Exhibit "A" to the
Resolution)
3. Initial Recognized Obligation Payment Schedule (IROPS) (Exhibit `B" to the
Resolution)
44
RESOLUTION NO.
A RESOLUTION OF THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY
OF PALM SPRINGS AUTHORIZING THE
APPROVAL AND TRANSMITTAL OF AN
ENFORCEABLE OBLIGATIONS PAYMENT
SCHEDULE (EOPS) AND A DRAFT
PRELIMINARY RECOGNIZED OBLIGATIONS
PAYMENT SCHEDULE (IROPS) PURSUANT
TO ASSEMBLY BILL NUMBER 1X 26 (AB 1X
26)
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, the Agency is engaged in activities to execute and implement
the Redevelopment Plan pursuant to the provisions of the California Community
Redevelopment Law (Health and Safety Code § 33000, et seq.) ("CRL"); and
WHEREAS, since the dates of adoption of the Redevelopment Plan, the
Agency has undertaken 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, over the next few years, the Agency had hoped to implement
a variety of redevelopment projects and programs to continue to eliminate and
prevent blight, stimulate and expand the Project Area's economic growth, create and
develop local job opportunities, and alleviate deficiencies in public infrastructure, to
name a few; and
WHEREAS, as part of the 2011-12 State budget bill, the California
Legislature has recently enacted and the Governor has signed, companion bills AB
1X 26 and AB 1X 27, requiring that each redevelopment agency be dissolved unless
the community that created it enacts a resolution committing it to making certain
payments; and
Enforceable Obligations Payment Schedule 05
August 25,2001
Page 11
WHEREAS, specifically, AB 1X 26 prohibits agencies from taking
numerous actions, effective immediately and purportedly retroactively, and
additionally provides that agencies are deemed to be dissolved as of October 1,
2011; and
WHEREAS, additionally, AB 1X 26 which eliminates redevelopment
agencies also requires all Agencies to wind-down their affairs unless the Agencies
are extended through compliance with the requirements of AB 1X 27; and
WHEREAS, on December 29, 2011, the California Supreme Court upheld
AB1X 26, which dissolves all of the redevelopment agencies in the State of
California, and struck down AB1X 27; and
WHEREAS, as part of this wind-down process, all redevelopment
agencies are required to file a schedule of "enforceable obligations" that require
payments to be made through the end of the calendar year 2011; and
WHEREAS, under the threat of dissolution pursuant to AB 1X 26 (Health
and Safety Code Section 34169(h)), the Agency established the foregoing
Enforceable Obligation Payment Schedule (the "Schedule") to be able to continue
eligible redevelopment activities that were begun prior to the effective date of AB 1X
26; and
WHEREAS, Health and Safety Code Section 34169(h), which is set forth
in Part 1.8, requires a redevelopment agency to prepare a preliminary draft of an
Initial Recognized Obligation Payment Schedule, which must list 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; and
WHEREAS, at a meeting of January 4, 2012, the City of Palm Springs
took action to designate itself as the Successor Agency and the Housing Successor
Agency to the Community Redevelopment Agency, as provided in California Health
and Safety Code §§ 34173 and 34176; and
WHEREAS, the Agency reserves the right to appeal any determination of
the California Director of Finance or other entity regarding the propriety of this
resolution as well as any future determinations; and
Enforceable Obligations Payment Schedule 06
January 18,2012
Page 12
WHEREAS, while the Agency currently intends to comply with the state-
mandated obligations established hereunder; and
WHEREAS, all other legal prerequisites to the adoption of this resolution have
occurred.
NOW, THEREFORE, BE IT RESOLVED that the Board 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 Enforceable Obligation Payment Schedule, attached hereto
and incorporated herein by reference as "Exhibit A", is hereby adopted, subject to all
reservations of rights and contingencies set forth above.
Section 3. The Preliminary Initial Recognized Obligation Payment Schedule,
attached hereto and incorporated herein by reference as "Exhibit A", is hereby
adopted, subject to all reservations of rights and contingencies set forth above.
Section 4. The Executive Director or designee is authorized to take all actions
necessary to implement this Resolution, including without limitation, the posting of
this Resolution and the Enforceable Obligation Payment Schedule and the
Preliminary Initial Recognized Obligation Payment Schedule on the Agency's
website, and the provision of notice of adoption of this Resolution and such
Schedule to the Successor Agency, the County Auditor-Controller, the State
Controller and the State Department of Finance.
PASSED, APPROVED, AND ADOPTED at a regular adjourned meeting of the
Community Redevelopment Agency of the City of Palm Springs, California, on this
18th day of January, 2012.
STEPHEN P. POUGNET
CHAIRMAN
ATTEST:
JAMES THOMPSON
Enforceable Obligations Payment Schedule 07
January 18,2012
Page 13
AGENCY SECRETARY
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY)
I, James Thompson, Secretary of the Community Redevelopment Agency
of the City of Palm Springs, California, hereby certify that Resolution No. was adopted
by the Palm Springs Community Redevelopment Agency at a special meeting held on
the 18th of January, 2012, and that the same was adopted by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
JAMES THOMPSON
AGENCY SECRETARY
Enforceable Obligations Payment Schedule 08
January 18,2012
Page 14
Name of Redevelopment Agency: Community Redevelopment Agency ofthe City of Palm Springs Paget of 3 Pages
Project Areas) Merged Project No.1 and Merged Pro'ecl No,2
ENFORCEABLE OBLIGATION PAYMENT SCHEDULE
Per AB 26-Section 34167 and 34169
Total Outstanding
Debt or Obligation Pa enbb month
s of June 30, Total Due During
Proect Name l Debt Obliation Pa ea Description 2011 Fiscal Year" Jul-0ec Jan Feb Mar Ant May June" Total
112001 Housing Tax Alloca ion Bond. Bank of New York Mellon Trust Refinance 1991 Housing Tax Allocation Bon 5,030,290 834 352 368,834 92 759 372,759 4B5 518
2 20N Tax Allocation Refunding Bonds,Series A Bank of New York Mellon Trust Refinance 1994 Tax Allocation Bonds 24,470,8N 1,947,267 824 564 375 489 747 214 1,122,703
32004 Tax Allocation Refunding Bonds,Series B Bank of New York Mellon Trust Refinance 1994 Tax Allocation Bonds 14453,293 1003384 390628 216376 396378 612756
4 2007 Tax Allocation Bonds,Series Bank of New York Mellon Trust Capital Pro cis 2960388 928638 309613 309612 309613 619225
5 2007 Taxable Tax Allocation Bonds Sense Bank of New York Mellon Trust Property Acquisition 3854458 175941 58647 58647 58647 117294
6 2007 Taxable Tax Allocation Bontls Sane.0 Bank of New York Mellon Tmst Property Acquisitor, 12407609 848503 325164 196669 326670 523339
7 SB 211 Payment-Riwaraide County Riverside County Tax Sharing Pursuant to Section 33607.7 744027 27708 4687 23021 23021
81 Pa ent-C' of PalmSarni Coy of PalmSomme Tax Sharing Pursuant to Section 33607.7 14573504 M7285 27615 319670 319670
9 SB 211 Payment-Palm S nos Unified School Di PalmSpruce Unified School Dishicl Tax Shaun Pursuant to Section 33607.7 10019661 234244 26298 207946 207946
10 SB 211 Payment-Collee of the Dosed College of the Desert Tax Sharing Pursuant to Section 33607.7 2859455 66666 7312 1 59,354 59354
11 SB 211 Payment-Coun Officer of Education County Cfflca of Education Tax Shanno Pursuant to Section 33M7.7 1555795 36375 4083 32292 32292
12 SB 211 Payment-Riverside Count Regional Park Riverside Count Regional Park Tax Shand Pursuant to Section 33607.7 315184 5,0133 390 4 693 4 693
13 SB 211 Payment-Riverside Count Flood Control Riverside Count Flood Gontiol Tax Shand Pursuant to Section 336077 310,392 8,465 217 8,248 8 248
14 SB 211 Pament-Cemeta District Cemeta Diamct Tax SharingPursuant to Section 33601 450M 716 109 825 825
15 SB 211 Payment-Hos ital District Hospital District Tax SharingPursuant to Section 33607.7 1477716 23905 1902 22003 22003
16 SB 211 Payment-Mosquito Abatement District Mosquito Abatement Datind Tax SharingPursuant to Section 33607.7 36167 1347 228 1119 1119
17 SB 211 Payment-Resource Conservation District Resource Conservator District Tax SharingPursuant to Section 336077 4.574 102 13 89 89
18 SB 211 Pamenl-Coachella Valle Water Distinct Coachella Valle Water District Tax Shaun Pursuant to Section 3360)7 768 9 1 8 8
19 SB 211 Payment-CVWD Strum Water District CVWD Storm Water District Tax Shann Pursuant to Section 33607.7 973 11 1 10 10
20 Contractual-Riversitle Count Riverside Count Tax Sherri Pursuant to Section 33401 133114557 3M3044 0 1661522 1681522 3W3.W
21 Contactual-Riverside Count Defenal Riverside CountyTax Sharma Pursuant to Section 33401 De 3715988 1061711 530855 530855 530855
22 Contractual-PalmSprings Unified School District PalmSprings Unified School Distinct Tax Sharma Pursuant to Section 33401 52272210 2584815 1292408 1292407 1292407
23 Contractual-College of the Need College of the Desed Tax Shenn Pursuant to Section 33401 11 281 449 W0 809 280.404 280,405 280,405
24 Contactual-Coun Clgce of Education County Office of Education Tax Sharing Pursuant to Section 3M01 6133,086 3M710 153355 153355 153355
25 Contactual-Riverside County Flood Control Riversde County Flood Control Tax Sharing Pursuant to Section 33401 18218160 512316 0 238158 238158 36000 512316
L61 Contactual-Cemeta District Cemetery Cannot Tax Sharing Pursuant to Section 33401 628989 30404 15202 15202 15202
L7 Contractual-Mosquito Abatement District Mosquito Abatement District Tax Sharing Pursuant to Sectlon 33401 6370571 311883 155942 155941 155941
28 Contractual-Coachella Valley Water Di strict Desert Water Agency Tax Sharing Pursuant to Section 33401 8984 547 274 273 273
L91 Contactual-Desed Water Agency Desert Water Agency Tax Smaing Pursuant to Section 33402 2080354 86781 28927 14484 14464 28928
30 Contactual-Desed Water Agency DS Ovemde Desert Water Agency Tax Sharing Pursuant to Section 33402 17226000 783000 261000 261000 2610M 522000
0
Totals-This Page M7169494 16092221 5088455 2450535 1525018 0 0 1919680 50996M 10991839
Totals-Page 2 84 320,872 8,720,422 1 750 931 4 110 W8 239,840 404,434 355,510 424,304 1 435 354 6 94
Totals-Page 3 4686 29P0,200 600 1 M3 325 191910D 205143 422000 55,000 55000 1 1919031 1 4575274
Grand total-All Pages 471 60566 1,2 66 2 8 683 0,
Includes Bond Debt Service We m August and September 2012
Name of Redevelopment Agency: Community Redevelopment Agency of the City of Palm Springs Page 2 of 3 Pages
Project Areals) Merged Patent No.1 and Merged Protect No,2
ENFORCEABLE OBLIGATION PAYMENT SCHEDULE
Per A13 26-Section 34167 and 34169
Debt or Obligation
as of June 30, Total Due During Payments by month
Project Name/Debt Obligation Pa ee Description 2011 Fiscal Year Jul -Dec Jan Feb Mar Aril may June Total
1 SERAF Loans Low Mod Housing Fund Loans for FY 2009/10 and 2010111 SERAF P 5069,848 0
2 City Loan and Interest City of PalmSprings Operating and Administrative Costs 1657163 1657,163 - 1657,163 1657,163
_31 Agreement for Reimbursement City of PalmSpring. PSL-2W Lease 2860,000 110,000 110000 0
4 A reement for Reimbursement City of Palms nn sSustainabili Partial Prepayment of PSL 236 Lease 1,125,436 1125,436 1125,436 1125,436
5 Loan Low Mod Housing Fund Loan to Merged Propel No.1 148632 74,316 74316 74316
_61 Housing Deferral Repayment Low Mod Housing Fund Pre-1986 Set Aside Deferral 1,532,669 0
] 2004 Convention Center Bond. City of PalmSpring. Agency Contribution to Conventon CenterE 36800000 1600,000 800,000 800000 801
811 Armament for Reimbursement City of Pal.S rin s Wastewater Fund 1.120,380 487120 1 426,939 60,181 487.120
9 Cooperative A reement City of Palms dos Salaries and Benefits 20705,000 662286 331086 55200 55,20D 55200 55200 55200 55,200 331.200
10 Cooperative A reement Cityof PalmSpring. Insurance 335.000 19,736 9868 4,934 4,934 9,868
11 Cooperative A reement Cityof PalmSprings Administrative Charges 2.195.000 292241 146121 73,060 73,060 14Q120
12 Coo erativeAgreement Cityof PalmSpring. Materials and Supplies 1080,000 35,W9 10,745 4,054 4,054 4,054 4,054 4,054 4,054 24,324
13 Cooperative A regiment Cityof PalmSprings Buildin Rental 43600D 16.000 16000 0
14 Contract Services-Audit Lance Soil&Lun hard Audit Services 518,000 11,000 4.876 3000 3124 6,124
15 Contract Services-Le al WoodruffS radlin General Le al Counsel 1.817000 57.700 17761 6656 6,656 6.6% 6,656 6,656 6,659 39.939
16 Contract Services-Le al Best best&Krei pr Redevelopment S ecial Counsel 5,130 14402 14,402 0
17 Contract Services ConsultingTens Nova ConsultingConsulth Services 3053 3,053 3053 0
18 Contract Services Consulting Can on Commercial Consul[in Downtown Consulting144000 l*i000 54000 150D0 15000 15,000 15000 15000 1500D 90,000
19 Contrad Services-Consultiv Keyser Marston Financial Analysis Services Ii'm 11640 11640 0
20 Contract Services -Financial Harrell&Co an Advisors Bond Disclosure and Financial Analysis 20000 20000 5000 5000 5000 5000 20,0W
21 PropertyTax Count,of Riverside Property Tax onA uired Property8,400 8400 42DD 420D SAW
22 Contract Services-Othere. .rebate talc Various Various Consoling Services 4296000 90339 339 15000 15000 15,000 15000 15000 15000 90000
23 2011 Open PO-Animal Shelter Allen F Smoot&Associates Animal Shelter Construction 32,856 32 856 32 856 0
24 20110 en PO-Animal Shelter SwatVMeirs Architects Animal Shelter Construction 15,479 15.479 15479 1 1 0
25 2011 Open PO-Animal Shelter Planit Reprographics Animal Shelter Construction 0
26 20110 en PO-Animal Shelter Ingersoll Rand Security Animal Shelter Construction 25,934 25934 25934 0
27 20110 en PO-Animal Shelter West Test Communications Animal Shelter Phones stem 9,027 9027 9027 0
26 2011 Open PO-Animal Shelter Moore lacofano Goltsman Downtown Design - 0
291 20110 en PO-Animal Shelter Schroer Mfg Co Animal Shelter Kennels and Intake Canes 17619 17619 17619 0
30 20110 en PO-Animal Shelter Lake State Industries Animal Shelter Carlos 4469 4469 4469 0
L11 20110 en PO-Construction Rick Enune.mr, SPalm Canyon Widening 5.198 5198 5,198 0
32 2011 Open PO-Autlit Lance Soil&Lun hard Audit Services 1,530 1.530 1,530 0
33 20110 en PO-Financial Harrell&Company Advisors Bond Disclosure and Financial Analysis 6.657 6,657 6,657 6657
241 Grounds Maintenance Various Operation ofAcquired Property 160000 BODD 6000 400 4DD 400 400 1 400 2000
35 Continuing Appropnatlons Vanous Animal Shelter Construction(Bond Proceeds 98,915 98,915 98835 8o 80
36 Continuing Appropriations Various COD Master Plan 101449 101449 650 50,799 50000 100799
L71 Continuing Appropriations Various Dasarl Fashion Plaza Vision 3,444 3,444 3,444 0
38 Continuing Appmpriations Various Capital Projects 765,557 765557 250000 250,000 250,000 15557 765557
L91 Housing Pro ects and Programs To Be Determined Restricted Sale Proceeds to be used for Low 162,630 162 830 162,630 162.630
40)Ca iml Projects Various Bond Funded Capital Projects 2007 Bond Pr, 1,021)57 1 021,757 - 1,021757 1.021 757
Totals-This Page 84320,872 8,720,422 1,750,931 1 4,110,048 1 239,840 1 404,434 355510 424,304 1,435,354 6,969,490
�4
Name of Redevelopment Agency, Community Redevelopment Agency of the City of Palm Springs Page of 3 Pages
Project Area(s) Merged Pro act No 1 and Merged Project No.2
ENFORCEABLE OBLIGATION PAYMENT SCHEDULE
Per AS 26-Section 34167 and 34169
Debt or Obligation
as of June 30, Total Due During Pa mans by month
Project Name/Debt Obligation Pa ee Description 2011 Fiscal Year July-Dec Jan Feb Mar A dl May June Total
_11 Property Tax Collection Fees County of Riverside SB 2557 Fee. 8,211000 243000 243000 243000
2 Bond Trustee Fees Bank of New York Mellon Trust Trustee Fees 259600 13000 12,857 143 143
3 Dis ostion and Develo mentAgreement Endure Investments Financial Assistance 554000 277,000 227000 227000
4 Dis ostion and Development A reement Endure Investments Financial Assistance 1400000 140000 140000 140000
5 Owner Partici abonA reement VIP Moto. Financial Assistance 900,000 150.000 150,001) 150000
_61 Lease/SubleaseAgreement VIP Moto. Porimay Lease 3960000 660,000 330000 55000 55,000 55000 55000 55000 55000 330000
] 20%Housing Set Aside Low Mod H...me Fund Housin Pawls eels and Pro rams 1,621100 1621,100 1621100 1,621100
8 Flood Control Trust Fund Various Flood Control Tax Shared Aaendv Account 1800000 1800,000 1800000 1800000
A Nightentiale Manor Improvements Low Mod Hiavimq Fund Low Mod H..sinq Pro or 60000 6g000 60,000 60000
10 Sunset Palm Apartments Low Mod H...me Fund Low Mod Housing Project 1,500ON 1,500,000 1500000 -
11 N Indian/San Radial Project Low Mod Howard Fund Low Mod Housing Project 4500 4500 469 4031 4031
12
3
14
15
18
1]
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Uli
35
36
3]
38
39
40)
Totals-This Pa e $ 20,270,20D.00 6468600 1 1843,3261 1,9191001 205,143 1 422,0001 55,0 4,575.274
r
Name of Redevelopment Agency. Community Redevelopment Agency of the City of Palm Spngga Pagel of 3 Pages
Phi Area(,) Merged Poled No.1 and Merged Project No,2
PRELIMINARY DRAFT OF INITIAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE
lki 26-Section U167 and U169
Total Outstanding
Debt or Obligafion Source of Pennants b month
s of June 30, Total Due During
raised Name l Debt Cbli ation Payee Description 2011 Fiscal Year" Payrnenl r Ju Dec Jan Feb Mar Aril May June" Total
1 2001 HousingTax Albwlion Bonds Bank of Newyork Mellon Trust Refinance 1991 HousingTax ABowlion Bon 5030290 834352 LMIHF 366834 92759 J]2759 465518
2 2004 Tax Allocation Refunding Bonds,Series Bankof Newyork Mellon Trust Refinance 1994 Tax Allocalion Bonds 24470886 1947267 RPTTF 824564 3754b9 747214 1122703
3 2004 Tax Allocation RefundingBonds Series Bank of New York Mellon Trust Refinance 1994 Tax Allocation Bonds 14453293 1003384 RPTTF 390628 216378 396378 612766
4 2007 Tax Allocation Bonds Series Bank of New York Mellon Trust Capital Proeds 23960388 928830 RPTTF 309613 309612 309613 619225
5 2007 Taxable Tax Allocation Bonds Sense Bank of New York Mallon Trust Property Acquisition 3854458 175941 RPTTF 58647 50647 58647 117294
8 2007 Taxable Tax Allocation Bonds Sense Bank of New York Mellon Trust Prn e A uisilion 12407609 848503 RPTTF 325164 196669 326670 523339
7 SB 211 Pament-Rovenide CountyRiverside Count, Tax Sharing Pursuant to Section 33607.] 744027 27708 RPTTF 4687 23021 23021
0 SB 211 PennantC of Palmsrans C of Palmsdoa Tax Sharing Pursuant to Social 33607.7 19573504 347285 RPTTF 27615 319670 319670
9 SB 211 Pa ment PalmSprings Unified School Di PalmSprings Unified School Distdc Tax Sharn Pursuant to Section 33607.7 10D18661 234244 RPTTF 26298 2D]946 20]946
10 S8211 Formal-College of the Desert College of the Desert Tax Sharn Pursuant to Section 33807.7 2859455 66 b6fi RPTTF ]312 59354 59354
11 S8211 Pament-Coun Office of Education CountyCRcs of Education Tax Sharing Pursuant to Secllan 33607.7 1555795 36375 RPTTF 4083 32292 32292
12 SB 211 Pamnt-Miranda CountyRegional Pa Riverside Countyregional Park Tax SharingPursuant to Section 33607.7 315184 5003 RPTTF 390 4693 4693
13 SB 211 Pamenb Rivenke CountyFlood Control Riverside Count Flood Cordial Tax Sharing Pursuant to Seeded 33607.7 310392 8465 RPTTF 217 8248 8248
14 SB 211 Penman-Cenena District Cemela Doslrlot Tax Sharing Pursuant to Section 33607.7 45006 716 RPTTF 109 825 825
15 SB 211 Pament-Hosilal Disldd Hos Bal Doslnct Tax Sharing Pursuant to Section 33607.7 1477716 23905 RPTTF 1902 22003 22003
16 SB 211 Par merit-Moo Masai Abatement Distract Mosquito Abatement District Tax Sharing Pursuant to Sedion 33801 36167 1347 RPTTF 228 1119 1119
17 SB 211 Pament-Resource Conservation District Resource Conservagan District Tax SharingPursuant to Section 33607.7 4574 102 RPTTF 13 89 89
18 S8211 Pamenl-Coachela Valle Water Dlstric Coachella Valle Water District Tax Shorn Lamont to Becton 3360]] 768 9 RPTTF 1 0 8
19 SE211 Payment CVWD Storm Water Dlaldd CVWD Storm Water District Tax Sharon Pursuant to Section 33607.7 973 11 RPTTF 1 10 10
20 Contmdual-Riverside CountyRiverside Count Tax Sharin Pursuant to Section 33401 133114557 3363044 RPTTF 0 1681522 1581522 3363044
21 Contractual-Riverside CountyDeferral Riverside CountyTax Sharing Pursuant to Section 33401 Def 3715980 1061711 RPTTF 530855 630855 530855
22 Contractual-Palm S ran s United School District PalmSolids Unified School 0lsldc Tax Sharing Pursuant to Section 33401 52272.210 2501015 RPTTF 1292400 12924W 12924W
23 Comadual-College of the Desert College of the Desert Tax Sharon Pursuant to Section 33401 11281449 560809 RPTTF 280404 280405 280406
24 Contradual-Coun Office of Education County Office of Deucalion Tax Shanno Pursuant to Section 33401 6133086 306710 RPTTF 153355 153355 153355
25 Contradual-Riverside County Flood Cannot Rovaraide County Flood Control Tax Sharon Pursuant to Section 33401 18218160 512316 RPTTF 0 236156 1 238158 36D00 512316
26 Conlndual-Cor Deli Catarina,DIami Tax Sharing Pursuant to Section 33401 628989 30404 RPTTF 15202 15202 15202
27 Contractual-Mos udo Abatement District Mos udo Abatement District Tax Sharing Pursuant to Section 33401 6370571 311883 RPTTF 155942 155941 155941
28 Contractual-Coachella Valley Water Distrid Desed Water Agency Tax Sharing Pursuant to Section 33401 0984 547 RPTTF 274 273 273
29 Contractual-Desert Water Agency Desert Water Agency Tax Sharing Pursuant to Section 33402 2080354 08781 RPTTF 28927 14.461 14464 28928
30 Contractual-Desed Water Agency OR Owme Desert Water Agency Tax Sharing Pursuant to Section 33402 17226000 78300D RPTTF 261000 261000 261000 522000
0
Talals-This Page 367169494 16092221 5068455 2450635 1525018 0 0 1919680 5099606 10994.839
Talals-Paget 84320872 8720422 1750931 4110048 239840 004434 355510 424304 1435354 6969490
Trials-Page 3 20270200 6 466 60D 1 843 326 1919100 205143 422000 55000 55000 1919031 4575294
Grandlglal-All Pa ee 4]1]60566 31281243 Bfi62]12 04 9fi83 1 W0001 826434 410 10 23 9B4 0453991 22 99603
RPTTF=Redevelopment Pmpedy Tax Trust Fund
LMIHF=Low and Moderate Income Housing Fund -'Includes Bond Debl Servoce Due in August and September 2012
ACA=Adminalraive Cost Allowance
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Name of Redevelopment Agency Community Redevelopment Agency of the City of Palm Springs Page t of 3 Pages
Project Ame(z) McMed Project No.t and Merged Project No.2
PRELIMINARY DRAFT OF INITIAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26-Section 34167 aral 34169
Debt or Obligation
s of June 30. Total Due During Source of Payments by month
Protect Name f Debt Obligation Pa ee Description 2011 Fiscal Year Payment E331.OW
Jan Feb Mar Aril May June Total
1 SERAF Loans Low Mad HousingFund Loans for FY 20o9110 and 2010111 SERAF P 5069848 RPTTF 0
2 City Loan and Interest C of Palm S nn s Operating and Administrable Costs 1,657,163 1,657,163 RPTTF1,657,163 1,657,163
3 A reement for Reimbursement O of PalmSprings PSL-236 Lease 2860D00 110000 RPT 0
4 Agreement for Reimbursement Cityof Palms nn sSustainabil F Partial Prepayment of PSL 236 Lease 1125436 1,125436 RPTTF1125436 1125436
5 Loan Law Mod HousingFund Loan to Murder!Project No.1 148632 74316 RPTTF 74316 74316
6 Housing Deferral Repayment Low Mod HousingFund Pra1986 Set Add.Deferral 1532669 RPTTF 0
] 2004 Convention Center Bonds CI of Palms dos Agency Contribution to Convention CenterE 36800,000 t600000 RPTTF 800000 800'Wo
B A reement for Reimbursement G of Palms tins Wastewater Fund 1 120,380 48]120 RPTTF426939 60181 487,120
9 Cooperative A reement Cityof PalmBrings Salons and Benefits 20705000 662286 ACA 55200 55200 55200 55200 55200 5520 331200
10 Cao erativ.A reement Ci of Palms nn s Insurance 335000 19736 ACA 4934 4934 9868
11 Cao erativeA reement C of Palms nn a Adormaterive Cha a 2195000 292241 ACA 73050 73060 145120
12 Cooperative A reement Cityof PalmSprings Minerals and Supplies 1080000 35069 ACA 10745 4054 4054 4054 4054 6054 4054 24324
13 Cooperative A reement Cityof PalmSprings BuildingRental 4W 000 16000 ACA 16000 0
14 Contract Services-Audit Lance 6a11&Lunhard Audit Services 518000 11000 ACA 4876 3000 3124 6124
15 Contend Services-Le al Wootlmff6 rallm General Le al Counsel 1817000 57700 AGA 17]61 66% 6656 66% 6656 6656 6559 39.939
16 Contract Services-Le al Beat Best B Kreger Redevelopment S ecol Counsel 5130 14402 ACA 14402 0
1] Contract Services-Consultin Terra Nova ConsuNn Consulin Services 3063 3053 ACA 3053 0
18 Contract Services-Consultin Canon Commercial ConsultingDowntown Consulting144000 144000 Fund Balance 54000 15000 15000 15000 15000 15000 15000 90000
19 Contract Services Consulting Kayser Marston Financial Analysis Services 11640 11640 Fund Balance 11640 0
20 Contract Services-Financial Harrell&Co n Advisors Bond Disclosure and Financial Analsiz 20000 20000 ACA - 5000 5000 5000 5000 20000
21 Property Tax County of Riverside Property Tax onAccused Property 8400 8400 RPTTF 4200 4200 8400
L21 Contract Services-Other a. .rebate talc Various Various Consullog Services 4296000 90339 ACA 339 15000 15ow 15000 15000 15000 15000M200
23 2D11Open PO-Animal Shelter Allen FSmoot&Aazociales Animal Shelter Construction 32856 32856 Bond Proceeds 32856
24 20110 en PO-Animal Shelter Swat/Mans Arch4ects Animal Shelter Construction 15479 15479 Bond Proceeds 15479
25 20110 en PO-Animal Shelter Plant Reprographics Animal Shelter Constmdion Bond Proceeds -
26 20110 en PO-Animal Shelter Ingersoll Rand SecurityAnimal Shelter Construction 25934 25934 Bond Proceeds 25934
272011Open PO-Animal Shelter West Test Communications Animal Shelter Phone stem 9027 9027 Bond Proceeds 9027
28 20110 en PO-Animal Shelter Moore lecohno Goitsman Dovmtown Design Bond Proceeds
29 20110 en PO-Animal Shelter Schroer MfgCc Animal Shelter Kennels and Intake Ca es 17619 17619 Bond Proceeds 17619
30 20110 nPC-Animal Shelter Lake State lndustrez Animal Shelter Comes 446g 4469 Bond Proceeds 4469
31 20110 nPO-Construction Rick Enineedn S Palm Canon Widening 5198 5198 Fund Balance 5198
32 20110 en PO-Audit Lance soil&Lun hand Audit Services 1530 1530 Fund Balance 1530
3320110 nPC-F'mandal Harrell&Conran Advisors Bond Disclosure and Financial Analysis 6657 6657 ACA 6657
34 Grounds Maintenance Various O ration olA uired Pro =872n,720,422
8000 RPTTF 6000 400 400d
4D0 400
35 ContinuingAppropriations Various Animal Shelter Construction Bond Proceeds98915 Bond Proceeds 98835 80 80
36 Continuin Appropriations Various COD Master Plan 101449 Fund Balance 650 607990]993] Continuin riations Various Loved Fashion Plaza Vision 34" Funtl Balanw 3444 038 Conlinuin A m riations Various Ca ilalProeds ]6555] Wnd Balance 250000 !41�14�4 %9490
5557
39 HousingPro acts and Programs To Be Determined Restricted Sale Proceeds to be used for Low162630 LMIHF 2630
40 Coital Projects Verbus Bontl Funded Coital Proeds20W BondP021757 Bontl Proceeds 1757
Totals-Thor Page 720422 175D,931 4,110,048 239840 404.434 355510
RPTTF=Redevelopment Propery Tax Trust Fund
LMIHF=Low and Moderate Income Housing Fund
ACA=Administrative Cast Allowance
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Name of Redevelopment Agency Community Redevelopmant Agency of the City of Palm Springs Page of 3 Pages
Prulact Area(s) Merged Proect No.l and Named Protect No,2
PRELIMINARY DRAFT OF INITIAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Debt or Obligation
s of June 30, Total Due During Source of Payments laymonth
Pm tl Name l Debt Obligation Payee Desod tion 2D11 Fiscal Year Payment .1,-Dec Jan Feb Mar April May June I Total
_11 Property Tax Collection Fees County of Riverside Sit 2557 Fees 8,211,000 243,001) RPTTF 243,000 243,000
_21 Band Tntstae Fees Bank of New York Mellon Trust Trustee Fees 259600 13000 ACA 12857 143 143
_31 Dlsostion and Development Agreement Endure Investments Financial Assistance 554000 2]]000 Fund Balance 227000 227000
_41 Dlsostion and DeyelomentAreement Endure Investments Financial Assistance 1400000 140000 Fund Balance 140000 140000
50vmer ParticiatenAreement VIP Motors Financial Assistance 900000 150000 RPTTF 150000 150000
e LeasidSubleaseAgreement VIP Motors Pro,ort,y Lease 3960000 660000 Lease In.. 330000 55000 55000 55D00 55000 55000 55000 330000
] 20%Housina Set Aside Low Mod Housing Fund Housing Proec6 and Prorama 1621101) 1621100 RPTTF - 1621100 1621100
8 Flood Control Trust Fund Various Flood Control Tax Sharing Agency Account 1800000 1800000 Reserve 1800000 1800.000
iN I NI Men ale Manor he revements Low Mod Housinct Fund Low Mod Housing Proecl 60000 60000 1 LMIHF 6D000 60000
L01 Sunset Palms q arlmems Low Mod Housing Fund Low Mod Housing Pro act 1500000 1500000 LMIHF 1500000
111).Nlndian/Sen Rafael Project Low Mod Housing Fund Low Mod Housin Pro act 4500 4500 LMIHF 469 4031 4031
12
13
14
5
6
18
19
20
21
22
2311
24
25
6
2]
28
29
O
31
33
J4
5
36
3]
8
9
/0
To1eb-Thin Pae 520,2]O IDD90 6,468,600 1,043,326 1,919,100 205,143 422,000 55,000 55.000 1919,031 4.575,274
RPTTF=Redevelopment Property Tax Trust Fund
LMIHF=Lowand Moderate Income Housing Fund
ACA=Administrative Cost Almv srce
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