The URL can be used to link to this page

Home My WebLink AboutSA-RDA 088RESOLUTION NO. SA -RDA 088 ' A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE AND ADMINISTRATIVE BUDGETS FOR THE FISCAL PERIOD FROM JULY 1, 2022 THROUGH JUNE 30, 2023, PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177 AND TAKING CERTAIN RELATED ACTIONS RECITALS: A. Pursuant to Health and Safety Code ("HSC") Section 34177(o), the Successor Agency to the Palm Desert Redevelopment Agency (the "Successor Agency") must prepare a Recognized Obligation Payment Schedule listing the anticipated payments for enforceable obligations to be made by the Successor Agency during the fiscal period from July 1, 2022 through June 30, 2023 ("ROPS 22-23") and submit ROPS 2022/23 to the oversight board of the Successor Agency for approval. B. Pursuant to HSC Section 341790), commencing on and after July 1, 2018, the Riverside Countywide Oversight Board (the "Oversight Board") has jurisdiction over ' the Successor Agency. C. Pursuant to HSC 34177(I)(2)(B), at the same time that the Successor Agency submits ROPS 22-23 to the Oversight Board for approval, the Successor Agency must submit a copy of such ROPS 22-23 to the State Department of Finance (the "DOF"), the County administrative officer, and the County Auditor -Controller. D. Pursuant to HSC Section 341770), the Successor Agency must prepare a proposed administrative budget for each six-month fiscal period (commencing each January 1 and July 1) and submit each proposed administrative budget to the Oversight Board for approval. E. Each proposed administrative budget shall include all of the following: (1) estimated amounts for Successor Agency administrative costs for the upcoming six- month fiscal period; (2) proposed sources of payment for the costs identified in (1); and (3) proposals for arrangements for administrative and operations services provided by the City of Palm Desert or another entity. F. Pursuant to HSC Section 34177(I)(2)(C) and Section 34177(o)(1), the Successor Agency must: (i) submit the Oversight Board -approved ROPS 22-23 to the DOF, the Office of the State Controller, and the County Auditor -Controller no later than February 1, 2022, and (ii) post a copy of the Oversight Board -approved ROPS 22-23 on ' the Successor Agency's website. W%Wff Reports - Shered 2\SteB Reports 2022-011318 - Norma - 2022-0113XOS Res SA -RDA 088 FV 2022-23 ROPS and Adm in Budgel102 Palm Desert SA- SA reso for ROPS entl Admin Budgets 22-231-13-22.docx RESOLUTION NO. SA -RDA 088 NOW, THEREFORE, THE BOARD OF DIRECTORS OF THE SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY (THE "BOARD"), ' HEREBY FINDS, DETERMINES, RESOLVES, AND ORDERS AS FOLLOWS: Section 1. The above recitals are true and correct and are a substantive part of this Resolution. Section 2. ROPS 22-23, substantially in the form attached hereto as Exhibit A, is hereby approved. Section 3. Each of Administrative Budget 22-23A (covering the period from July 1, 2022 through December 30, 2022) and Administrative Budget 22-23B (covering the period from January 1, 2023 through June 30, 2023) (together, "Administrative Budgets 22-23"), substantially in the form attached hereto as Exhibit B, is hereby approved. Section 4. The Executive Director of the Successor Agency, in consultation with the Successor Agency's legal counsel, may modify ROPS 22-23 and/or the Administrative Budgets 22-23 as the Executive Director or the Successor Agency's legal counsel deems necessary or advisable. Section 5. Staff is hereby authorized and directed to submit a copy of ROPS 22-23 to the Oversight Board for approval and, at the same time, transmit a copy of ROPS 22-23 to the DOF, the County Auditor -Controller and the County administrative officer as designated by the County. , Section 6. Staff is hereby authorized and directed to also submit the proposed Administrative Budgets to the Oversight Board for approval. Section 7. Staff is hereby authorized and directed to submit a copy of Oversight Board -approved ROPS 22-23 to the DOF, the Office of the State Controller, and the County Auditor -Controller. If the Oversight Board has not approved ROPS 22-23 by February 1, 2022, Staff is hereby authorized and directed to transmit ROPS 22-23 to the DOF, the Office of the State Controller, and the County Auditor -Controller by February 1, 2022, with a written notification regarding the status of the Oversight Board's review. Written notice and information regarding the action of the Oversight Board shall be provided to the DOF by electronic means and in a manner of DOF's choosing. Section 8. This Board hereby represents and warrants to the Oversight Board that it examined all of the items on the ROPS 22-23 and finds that each of them is necessary for the continued maintenance and preservation of property owned by the Successor Agency until disposition in accordance with the Dissolution Act, the continued administration of the ongoing enforceable obligations, or the expeditious wind -down of the affairs of the former Palm Desert Redevelopment Agency by the Successor Agency. Section 9. Staff is hereby authorized and directed to post a copy of the Oversight Board -approved ROPS 22-23 on the Successor Agency's Internet website I (being a page on the Internet website of the City of Palm Desert). WlSlaff Reports - Shared 2\Steg Reports 2022.0113Z - Norms-2022.0113\05 Res SA -RDA 088 FY 2022-23 ROPS and Admin Budget= Palm Deserl SA - SA reso for BOPS and Admin Budgets 22-231-13-22.docx RESOLUTION NO. SA -RDA 088 Section 10. The officers and the other Staff members of the Successor Agency ' are hereby authorized and directed, jointly and severally, to do any and all things which they may deem necessary or advisable to effectuate this Resolution, including but not limited to requesting additional review by the DOF and an opportunity to meet and confer on any disputed items, and making adjustments to ROPS 22-23 and/or Administrative Budgets 22-23 pursuant to the DOF's instructions, and any such actions previously taken are hereby ratified and confirmed. L' PASSED, APPROVED AND ADOPTED this 13th day of January, 2022. AYES: JONATHAN, KELLY, NESTANDE, QUINTANILLA, and HARNIK NOES: NONE ABSENT: NONE ABSTAIN: NONE �� l JAN C. HARNIK, CHAIR ATTEST: NIAMH M. ORTEGA, AS,;iSTANT SECRETARY SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY W \Staff Reports -Shared 2\Staff Reports 2022-0113\5 - Norma - 2022-0113\05 Res SARDA088 FY 2022-23 ROPS and Adm in Budget\02 Palm Desert SA - SA reso for ROPS and Admin Budgets 22-231-13-22 di RESOLUTION NO. SA -RDA 088 I EXHIBIT A SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY RECOGNIZED OBLIGATION PAYMENT SCHEDULE (July 1, 2022 — June 30, 2023) WASW Repods - Shared 2\StaffRepode 2022-011315 - Norma-2022-0113\05 Res SA -RDA OW FY 2022-23 ROPS and Admin Budgelt02 Palm Desert SA- SA reso for POPS and Admin Budgets 22431.13-22 do" RESOLUTION NO. SA -RDA 088 Recognized Obligation Payment Schedule (ROPS 22-23) - Summary Filed for the July 1, 2022 through June 30, 2023 Period Successor Agency: Palm Desert County: Riverside Current Period Requested Funding for Enforceable 22-23A Total (July - 22-23B Total (January - ROPS 22-23 Obligations (ROPS Detail) December) June) Total A Enforceable Obligations Funded as Follows (B+C+D) $ 67,600 $ 61,071 $ 128,571 B Bond Proceeds - - - C Reserve Balance - - - D Other Funds 67,500 61,071 128,571 E Redevelopment Property Tax Trust Fund (RPTTF) (F+G) $ 13,600,931 $ 14,184,442 $ 27,785,373 F RPTTF 13,208,311 13,784,593 26,992,904 G Administrative RPTTF 392,620 399,849 792,469 H Current Period Enforceable Obligations (A+E) $ 13,668,431 $ 14,245,613 $ 27,913,944 Certification of Oversight Board Chairman: Name Title Pursuant to Section 34177 (o) of the Health and Safety code, I hereby certify that the above is a true and accurate Recognized Obligation Payment Schedule for the above named successor agency. /s/ Signature Date u RESOLUTION NO. SA -RDA 088 Palm Desert Recognized Obligation Payment Schedule (ROPS 22-23) - ROPS Detail July 1, 2022 through June 30, 2023 A B C D E F G H I J K L I M I N 1 O P O I R I S I T j U V W ROPS 22-23A(Jul -Dec) WMEMOM Item Obligation Protect Name Agreement Agreement Execution Termination Payee Total Project ROTS Fund Sources 22-23A Fund Sources 22-238 N Type Description Outstanding Retired Area 22-2J Total Total Date Date Obligation Adnu�Total Rsee Otther RPTTF Bond Riexu-vaj Other RPTTF PrBoondds Reerrve RPTTF Proceetls18alance 111 l RPTTF $241,957,999 $27,913,944 $ $- $67,500 $13,208,311 $392,620 $13,668,4311� 9 Indian Litigation 02/27/ 02272039 Indian Judgement 1 7, 234,765 N $139,674 - - - 69,837 - $69,837 - - - 69,837 - $69,837 Springs 2009 Springs related to Stipulated Mobilehome ISMHP Agreement Park 32 Stipulated Litigation 11/20/ 11/25/2032 Various Duties 1 - N $- - - - - $- - - - - - S- Judgement 1991 required Case No under said 51124.. court order Desert Rase, Etc. PDHA subsidy for 1, 100 Afford Units 43 Agency Property 07/01/ 06/302023 Utilities, Agency 1 450.000 N $135000 - - 67,500 - - $67,500 - - 61,071 6,429 - $67,500 Owned Maintenance 2013 Maim owned Properties Services, properties HOA Dues, monthly Etc carrying costs Prior to disposition. 44 Additional Fees 07/01/ 06/302042 Willdan Additional 1 30,000 N $1,500 - - - 750 - $750 - - - 750 - $750 Disclosures 2013 disclosures on TAB's that will be required to report changes in me allocation of tax increment and the Payment an tax allocation bonds due to AB 26. These disclosures would not have been necessary without this legislative change. RESOLUTION N'). SA -RDA 088 A B C D E F G H I J K L I M I N 0 P ROFS 22-23A (Jul - Dec) Item Obligation Agreement Agreement Total Project Retired ROPS Fund Sources Protect Name # Type Execution Ter Payee Oescnption Outstanding Area 22 23 Total Date Date Date Obligation Reserve Other RPTTF PAmin Proceeds Balance Funds RPTTF 56 2W3 Tax Bonds 03/12/ 08/01/2033 US Bank Semi -Annual 2 20,977,794 N $1, 4 .007 - - - 384,503 - Alloewim, Issued On or 2003 Debt Service Bond Issue - Before 12/ Payment $15,745,000 31/10 59 North Sphere CBylCounty 03/23/ 07/15/2038 City of Palm Balance due 2 - N- Hotel land Loan (Prior 1995 Desert Property 06/28/11), Acquisition Cash exchange 60 North Sphere CitylCounty 03/13) 07/15/2038 City of Palm Loan for 2 - N $- - - - - - Property Loan (Prior 1997 Down Property Acquisition O Wl1), Acquisition Cash exchange 61 City Loan for City/County 12/05/ 07115/2038 City of Palm Formation of 2 - N- formation of Loan (Prior 1986 Desert PA/Prop Project Area 06128111). Acquisition No. 2- 1986 Cash exchange 86 Stipulated Litigation 11/20/ 07/15/2038 Various Duties 2 - N- Judgement 1991 required Case No under said 51124 court order O R S T U V W 22.23A Fund Sources 22-23B Total Bond Reserve Other RPTTF Admm Total Proceeds Balance Funds RPTTF $384,503 - - - 1,259,504 - $1.259,504 I 8- Vineyards, Emerald Brook (Palm Desed 103) PDHA subsidy for 1,100 Afford Units 119 Stipulated Litigation 11/20/ 07/15/2038 Various Duties 3 - N $ - - - - - S - - - - Judgement 1991 required Case No under said 51124 court order. Falcon Crest Afford Housing Dev Homeowners at lots 1 through 93, at al. PDHA Subsidy for 1.1W Affordable Units 160 Stipulated Litigation 11/20/ 07/15/2038 Venous Duties 4 - N $ - - - - - $- - - - - S S S RESOLUTION NO. SA -RDA 088 A B C D E F G H I J K L I M I N O P 0 R S j T U V w ROPS 22-23A (Jul - Dec) Item Obligation Agreement Agreement Total Project RODS Fund Sources 2233A Fund Sources 12d3B Project Name # Type Execution Termination Payee Description Outstanding Retired Area 2223 Tota Total Total pale Data Obligation Bond Reserve Other RPTTF Admin Bond Reserve Other I RPTTF Proceeds Balance Funds RPTTF Proceeds Balance Fund. RPTTF RPTTF Judgement 1991 required Case No under said 51124 court order PDHA subsidy for 1.100 Affordable Units 177 North Sphere CirylCounty 03/23l Property Loan(Prior 1995 Acquisition 06/28111), Cash exchange 178 North Sphere City/County 08/1W Property Loan (Poor 1999 Accoisibon O6/28/11), Cash exchange 179 North Sphere City/County 08/16/ Property Loan(Pnor 19W Acquisition 0628111), Cash exchange 189 Project Area Admin Costs 11/251 Administration 1981 190 Costs Property 07/O1/ Associated Dispositions 2013 with Disposition of Assets 192 2017 NHA Bonds 0123/ Tax Allocation Issued After 2017 Refunding 12/31/10 Bond Issue - $52,390.000 193 2017 NHS Bonds 0123f Tax Allocation Issued After 2017 0711WO32 Guy of Palm Balance due i - N Desert Property Acquisition (Eligible upon receipt f , of FOG) 07/15/2032 City of Palm Balance due 1 - N $- - - - - - $ - - - - Desert Property Acquisition (Eligible upon receipt of FOC) 07/152038 City of Palm Balance due 2 - N $- Desert Property Acquisition (Eligible upon receipt of FOC) 07/19/2044 Various Allowable 1-4 8,033,143 N $792469 - - - - 392,620 $392,620 - - - Costs per Admin Plan - staff, uIDities, professional services, etc. 06/302023 City of Palm Remediation 1-4 350,000 N $25.000 - - -. 12500 - $12,500 - - - 12,500 Desert of Health and Safety Issues and costs related to sale of properties owned by former RDA 10f012033 US Bank Semi -Annual 14 48,727,000 N $3.855.125 - - - 2,587,500 - $2,587,500 - - - 1,267,625 Debt Service Payment 10/01/2041 US Bank Semi -Annual 1-4 136,868,014 N $14,266.844 - - - 6,830,581 - $6,630,581 - - -I 7,636,263 Debt Service 399,849 $399,849 $12.500 $1,267,625 1 $7,636,263 RESOLUTION NO. SA -RDA 088 A B C D E F G H I J K L I M I N O P Q R I S I T I U V IN ROPS 22-27A (Jul - Dec) 'tem Agreement Agreement Obligation Prof Total Rebred ROPS Fund Sources 22-27A Fund Sources 22.238 Project Name 0 Execubon Terminabon Payee Type Description Area Outstanding 22-23 Tood ToQI Bond Reserve Other Admm Total Date Date Obligation Bond Reserve Other RPTTF Admin RPTTF Proceeds Balance Funds RPTTF Proceeds Balance Funds RPTTF Refunding 12/31/10 Payment Bond Issue - $140,130,OW 194 2017 HA Tax Bonds 01/231 10/01/2031 US Bank Semi -Annual HA 6,715772 N $680,769 - - - 339,509 - $339,509 - - - 341,260 - $341,260 Allocation Issued After 2017 Debt Service Refunding 12/31/10 Payment Bond Issue - $7,365,000 195 2017 HB Tax Bonds 011231 10M/2023 US Bank Semi -Annual HA 12,571,481 N $6373,556 - - - 3,183,131 - $3,183,131 - - - 3,190,425 - $3,190425 Allocation Issued After 2017 Debt Service Refunding 12/31/10 Payment Bond Issue - $45,815,000 RESOLUTION NO. SA -RDA 088 Palm Desert Recognized Obligation Payment Schedule (ROPS 22-23) - Report of Cash Balances July 1, 2019 through June 30, 2020 (Report Amounts in Whole Dollars) Pursuant to Health and Safety Code section 34177 (I), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obligation. IA B I C D I E I r G H Fund Sources ROPS 19-20 Cash Balances (07101/19 - 06130/20) Beginning Available Cash Balance (Actual 07/01119) RPTTF amount should exclude "A" period distribution amount. Revenue/Income (Actual 06130/20) RPTTF amount should tie to the ROPS 19-20 total distribution from the County Auditor -Controller Expenditures for ROPS 19-20 Enforceable Obligations (Actual 06/30120) Retention of Available Cash Balance (Actual 06130120) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) ROPS 19-20 RPTTF Prior Period Adjustment RPTTF amount should tie to the Agency's ROPS 19-20 PPA form submitted to the CAC Bond Proceeds Bonds issued Bonds issued on or before on or after 12/31/10 01/01/11 Reserve Balance Other Funds Prior ROPS RPTTF and Reserve Rent, grants, Balances retained interest, etc. for future period(s) 761,000 56,832 93,000 724,832 No entry required 1,635,817 RPTTFI Comments Non-Admin and Admin 133,947 1 Prior Year Cash Balance (G5) 185,967 34,787,880 Includes PMP Sales, Interest Earning, Lit Deposit and RPTTF Deposit 916,970 34,700,2981 Includes PMP Sales Proceeds to CAC, reduction to energy investment, permitted amounts from other on 18/19 ROPS, ROPS 863,825 133,947 DDR/Other Restricted Cash Energy Investment ($668,000)/Litigation Deposit ($56,832)/Amt Distributed from Balance in 20/ 21 ($731,007)/Amt Distributed from Balance in 21/22 ($266,765) RESOLUTION NO. SA -RDA 088 Pursuant to Health and Safety Code section 34177 (1), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obligation. IA B I C I D I E I F I G H Fund Sources Bond Proceeds Reserve Balance Other Funds RPTTF ROPS 19-20 Cash Balances (07/01119 - 06130120) Bonds issued Bonds issued on or before on or after 12/31/10 01/01/11 Prior ROPS RPTTF and Reserve Rent, grants, Balances retained interest, etc. for future period(s) Non-Admin and Admin 6 Ending Actual Available Cash Balance (06130120) $- $- $- $40,989 $87,582 Matches PPA C to F=(1+2-3-4),G=(1+2-3-4-5) Comments RESOLUTION NO. SA -RDA 088 Palm Desert ' Recognized Obligation Payment Schedule (ROPS 22-23) - Notes July 1, 2022 through June 30, 2023 Notes/Comments RESOLUTION NO. SA -RDA 088 ' EXHIBIT B SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY ADMINISTRATIVE BUDGETS (July 1, 2022 — December 31, 2022); and (January 1, 2023 - June 30, 2023) WAStaff Reports - Shared 2\StaH Reports 2022-0113\ - Norma-2022-0113\05 Res SA -RDA 08B FY 2022-23 ROPS and Admin Budget102 Palm Desert SA - SA reso for ROPS and Admin Budgets 22-231-13-22.do= RESOLUTION NO. SA -RDA 088 [This page has intentionally been left blank.] RESOLUTION NO. SA -RDA 088 Exhibit "B" Successor Agency to the Palm Desert Redevelopment Agency ROPS 2022-2023 BASED ON PY RPTTF DEPOSIT Administrative Cost Allowance ADMINISTRATIVE COSTS Auditing Service Bank Fees Consulting Services Legal Services Personnel Expenditures' Total Administrative Costs BOPS 22-23A Jul 1 - Dec 31, 2022 392,620 ROPS 22-23A Budget Jul 1 - Dec 31, 2022 8,500 7,500 5,000 50,000 321,620 392,620 A - Administrative Allowance, B - City General Fund ROPS 22-23B Jan 1 - June 30, 2023 399,849 ROPS 22-23B Budget Jan 1 - June 30, 2023 5,000 20,000 5,000 50,000 2 319,849 399,849 J Includes salaries, training, travel, meetings, supplies, equipment, etc. Source of Payment A A A A 2 A, B 2City staff time reimbursement costs in excess of SARDA allowable administrative costs (as adjusted per Department of Finance) will be borne by the City's General Fund. 12/22/2021 11:19 AM Proposed Administrative Budgets A&B - June 30, 202312.22.21.xisx Recognized Obligation Payment Schedule (ROPS 22-23) - Summary Filed for the July 1, 2022 through June 30, 2023 Period Successor Agency: Palm Desert County: Riverside Current Period Requested Funding for Enforceable Obligations (ROPS Detail) A Enforceable Obligations Funded as Follows (B+C+D) B Bond Proceeds C Reserve Balance D Other Funds E Redevelopment Property Tax Trust Fund (RPTTF) (F+G) F RPTTF G Administrative RPTTF H Current Period Enforceable Obligations (A+E) Certification of Oversight Board Chairman: Pursuant to Section 34177 (o) of the Health and Safety code. I hereby certify that the above is a true and accurate Recognized Obligation Payment Schedule for the above named successor agency. 22-23A Total 22-23B Total ROPS 22-23 (July - (January - Total December) June) $ 67,500 $ 61,071 $ 128,571 67,500 61.071 128.571 $ 13,600,931 $ 14,184,442 $ 27,785,373 13,208,311 13,784,593 26,992,904 392,620 399,849 792,469 $ 13,668,431 $ 14,245,513 $ 27,913,944 Tami Scott Chairperson Name Title /s/ Signatu 1 1/240/2022 A B C D E F Item Obligation Agreement Agreement 4 Project Name Type Execution Termination Payee Date Date 9 Indian Litigation 02/27/ 02/27/2039 Indian J Springs 2009 Springs related to Stipulated Mobilehome ISMHP Agreement Park 32 Stipulated Litigation 11/20/ 11/25/2032 Various Duties 1 Judgement 1991 required Case No. under said 51124 court order. Desert Rose, Etc. PDHA subsidy for 1, 100 Afford Units 43 Agency Property 07/011 06/30/2023 Utilities, Agency 1 Owned Maintenance 2013 Maint owned Properties Services, properties HOA Dues, (monthly Etc. carrying costs prior to disposition. 44 Additional Fees 07/01/ 06/30/2042 Willdan Additional 1 Disclosures 2013 disclosures on TAB's that will be required to report changesin the allocation of tax ncrement and the payment on tax allocation bonds due to AS 26. These disclosures would not have been necessary without this legislative change. G H I Project Total Description Area Outstanding Obligation $241,957,99t udgement 1 7.234.76; Palm Desert Recognized Obligation Payment Schedule (ROPS 22-23) - ROPS Detail July 1, 2022 through June 30, 2023 J K L M I N O P ROPS 22-23A (Jul - Dec) RetiredROPS Fund SOL rces ` 22-23 Total $27,913,944 N $139,674 N $- N 1 $135,000 N $1,500 1 O R S T U V W M ROPS 22-23B (Jan - Jun) 22-23A Fund Sorrces 22-238 Total Bond Reserve Other RPTTF Admin Total Proceeds Balance Funds RPTTF $13,668,431 $- $- $61,071 $13,784,593 $399,849 $14,245,513 $69,837 - - - 69,837 - $69,837 $67,500 - - 61,071 6,429 - $67,500 $750 - - - 750 - $750 A B C D E F G Item Obligation Agreement Agreement Project Name Execution Termination Payee Description on Type Date Date 56 2003 Tax Bonds 03/12/ 08/01/2033 US Bank Semi -Annual Allocation Issued On or 2003 Debt Service Bond Issue - Before 12/ Payment $15,745,000 31110 59 North Sphere City/County 03/23/ 07/15/2038 City of Palm Balance due Hotel land Loan (Prior 1995 Desert Property 06/28/11), Acquisition Cash exchange 60 North Sphere City/County, 03/13/ 07/15/2038 City of Palm Loan for Property Loan (Prior 1997 Desert Property Acquisition 06/28/11), Acquisition Cash exchange 61 City Loan for City/County 12/05/ 07/15/2038 City of Palm Formation of formation of Loan (Prior 1986 Desert PA/Prop Project Area 06/28111), Acquisition No. 2- 1986 Cash _ exchange 86 Stipulated Litigation 11/20/ 07/15/2038 Various Duties Judgement 1991 required Case No. under said 51124 court order. 119 Stipulated Litigation 11/20/ 07/15/2038 Judgement 1991 Case No. 51124 160 Stipulated Litigation 11120/ 07/15/2038 rook (Palm Desert 103) DHA ubsidy for ,100 Afford nits uties squired nder said ourt order. alcon Crest fford lousing Dev lomeowners t lots 1 irough 93, t al. PDHA ubsidy for ,100 H I J K L M I N O P ROPS 22-23A (Jul - Dec) Project ,.. Total ., ROPS Fund Sources Q R S I T I U V _ w 22.23A Fund Sources 22.23B Admin Total TF RPTTF 9,504 - $1,259,504 $ A B C D E Item Obligation Agreement Agreement # Project Name Type Execution Termination Date Date Judgement 1991 Case No. 51124 F G H I I J Payee Description Project TotalArea Outstanding Rath Obligation required under said K L M I N O P Q R S I T U V W ROPS 22-23A (Jul - Dec) ROPS Fund Sources 22.23A Fund Sources 22.23B 2243 Total Bond Reserve Other Admin Total Bond Reserve Other Admin Total Proceeds Balance Funds I RPTTF RPTTF Proceeds Balance Funds RPTTF RPTTF I1,100 Affordable Units 177 North Sphere City/County 03/231 07/15/2032 City of Palm Balance due i N III - Property Loan (Prior 1995 Desert Property Acquisition 06/28/11), Acquisition Cash (Eligible exchange upon receipt of FOC) N $- 178 North Sphere City/County 08/16/ 07/15/2032 City of Palm Balance due 1 - Property Loan(Pnor 1999 Desert Property Acquisition 06128/11), Acquisition Cash (Eligible exchange upon receipt of FOC) N $- 179 North Sphere City/County 0a/16/ 07/15/2038 City of Palm Balance due 2 Property Loan (Prior 1999 Desert Property Acquisition 06/28/11), Acquisition Cash (Eligible lof exchange upon receipt _ FOC) N $792,469 189 Project Area Admin Costs 11/25/ 07/19/2044 Vadcus. Allowable 74 8,033,143 Administration 1961 Costs per Admin Plan - staff, utilities, professional services, etc. 190 Costs Property 07/011 06/30/2023 City of Palm Remediation 1-4 350,000 N $25,000 Associated Dispositions 2013 Desert of Health with and Safety Disposition of Issues and Assets casts related to sale of properties owned by former RDA 192 2017 NHA Bonds 01/23/ 10/01/2033 US Bank Semi -Annual 1-4 48,727,000 N $3,855,125 Tax Allocation Issued After 2017 Debt Service Refunding 12/31/10 Payment Bond Issue - $52,390,000 JSemi-Annual 193 2017 NHB Bonds 01/23/ 10/01/2041 US Bank 1-4 136,868,044 N $14,266,844 Tax Allocation Issued After 2017 Debt Service - 392,620 $392,620 12,500 - $12,500 2,587,500 - $2,587,500 A AAA AA1 _ 4A A' n AA1 $ 399,849 $399,849 - 12,500 - $12.,500 - 1,267,625 - $1,267,625 - 7 AIA VAA - 11:7 AAA 9Aq rA B C DE F G H I J Agreement Agreement Total Obligation ProjectProject Name Type Execution Termination Payee Description Area Outstanding RathDate Date Obligation Refunding 12/31/10 Payment Bond Issue - $140,130,000 194 2017 HA Tax Bonds 01/23/ 10/01/2031 US Bank Semi -Annual HA 6,715,772 N Allocation Issued After 2017 Debt Service Refunding 12/31/10 Payment Bond Issue - $7,365,000 195 2017 HB Tax Bonds 01/23/ 10/01/2023 US Bank Semi -Annual HA 12,571,481 N Allocation Issued After 2017 Debt Service Refunding 12/31/10 Payment Bond Issue - $45,815,000 K L M I N O P_ R R S I T U V W ROPS 22-23A (Jul - Dec) ROPS Fund Sources 22.23A Fund Sources 22.23B 2243 Total Bond Reserve Other Admin Total Bond Reserve Other Admin Total Proceeds Balance Funds RPTTF RPTTF Proceeds Balance Funds RPTTF RPTTF $680,769 $6,373,556 3,183,131 $339,509 - $3,183,1311 341,260 - $341,260 3,190,425 - $3,190,425 Palm Desert Recognized Obligation Payment Schedule (ROPS 22-23) - Report of Cash Balances July 1, 2019 through June 30, 2020 (Report Amounts in Whole Dollars) Pursuant to Health and Safety Code section 34177 (1), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obligation. IA B C D E F G H Fund Sources Bond Proceeds Reserve Balance Other Funds RPTTF ROPS 19-20 Cash Balances (07/01 /19 - 06130120) 1 Beginning Available Cash Balance (Actual 07/01119) RPTTF amount should exclude "A" period distribution amount. 2 Revenue/income (Actual 06/30/20) RPTTF amount should tie to the ROPS 19-20 total distribution from the County Auditor -Controller 3 Expenditures for ROPS 19.20 Enforceable Obligations (Actual 06/30120) Retention of Available Cash Balance (Actual 06130/20) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 5 ROPS 19-20 RPTTF Prior Period Adjustment RPTTF amount should tie to the Agency's ROPS 19-20 form submitted to the CAC Bonds issued Bonds issued on or before on or after 12/31/10 01/01/11 Prior ROPS RPTTF and Comments Reserve Rent, grants, Non-Admin Balances retained interest, etc. and Admin for future period(s) 761,000 1,635,817 133,947 Prior Year Cash Balance (G5) 56,832 185,967 34,787,880 Includes PMP Sales, Interest Earning, Lit Deposit and RPTTF Deposit 93,000 916,970 34,700,298 Includes PIMP Sales Proceeds to CAC, reduction to energy investment, permitted amounts from other on 18/19 ROPS, ROPS 724,832 863,825 133,947 DDR/Other Restricted Cash: Energy Investment ($668,000)/Litigation Deposit ($56,832)/Amt Distributed from Balance in 20/ 21 ($731,007)/Amt Distributed from Balance in 21/22 ($266,765) No entry required Pursuant to Health and Safety Code section 34177 (1), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obligation. A, B C D E F G H Fund Sources Bond Proceeds Reserve Balance I Other Funds RPTTF Prior ROPS ROPS 19-20 Cash Balances RRese anndd Comments (07/01/19 - 06/30120) Bonds issued Bonds issued Reserve Rent, grants, Non-Admin on or before on or after Balances retained interest, etc. and Admin 12/31/10 01/01/11 for future period(s) 61Ending Actual Available Cash Bal nce (506/30/20) I $- $-I $-I $40,9891 $87,5821 Matches PPA Item # 19 132 143 144 156 159 I60 161 186 1119 1160 1177 1178 1179 1189 1190 1192 1193 1194 1195 Palm Desert Recognized Obligation Payment Schedule (ROPS 22-23) - Notes July 1, 2022 through June 30, 2023 Notes/Comments