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Home My WebLink AboutSA-RDA 099 RESOLUTION NO. SA-RDA 099 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, 2023 THROUGH JUNE 30, 2024, 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, 2023 through June 30, 2024 (“ROPS 23-24”) and submit ROPS 2023/24 to the oversight board of the Successor Agency for approval. B. Pursuant to HSC Section 34179(j), 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(l)(2)(B), at the same time that the Successor Agency submits ROPS 23-24 to the Oversight Board for approval, the Successor Agency must submit a copy of such ROPS 23-24 to the State Department of Finance (the “DOF”), the County administrative officer, and the County Auditor-Controller. D. Pursuant to HSC Section 34177(j), 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(l)(2)(C) and Section 34177(o)(1), the Successor Agency must: (i) submit the Oversight Board-approved ROPS 23-24 to the DOF, the Office of the State Controller, and the County Auditor-Controller no later than February 1, 2023, and (ii) post a copy of the Oversight Board-approved ROPS 23-24 on the Successor Agency’s website. Resolution No. SA-RDA 099 Page 2 NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Successor Agency to the Palm Desert Redevelopment Agency (The “Board”), as follows: Section 1. The above recitals are true and correct and are a substantive part of this Resolution. Section 2. ROPS 23-24, substantially in the form attached hereto as Exhibit A, is hereby approved. Section 3. Each of Administrative Budget 23-24A (covering the period from July 1, 2023 through December 30, 2023) and Administrative Budget 23-24B (covering the period from January 1, 2024 through June 30, 2024) (together, “Administrative Budgets 23-24”), 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 23-24 and/or the Administrative Budgets 23-24 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 23-24 to the Oversight Board for approval and, at the same time, transmit a copy of ROPS 23- 24 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 23-24 to the DOF, the Office of the State Controller, and the County Auditor-Controller. If the Oversight Board has not approved ROPS 23-24 by February 1, 2023, Staff is hereby authorized and directed to transmit ROPS 23-24 to the DOF, the Office of the State Controller, and the County Auditor-Controller by February 1, 2023, 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 23-24 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 23-24 on the Successor Agency’s Internet website (being a page on the Internet website of the City of Palm Desert). Resolution No. SA-RDA 099 Page 3 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 23-24 and/or Administrative Budgets 23-24 pursuant to the DOF’s instructions, and any such actions previously taken are hereby ratified and confirmed. ADOPTED ON JANUARY 12, 2023. _________________________________ KATHLEEN KELLY CHAIR ATTEST: ________________________________ ANTHONY J. MEJIA SECRETARY I, Anthony J. Mejia, Secretary to the Successor Agency of the Palm Desert Redevelopment Agency, hereby certify that Resolution No. SA-RDA 099 is a full, true, and correct copy, and was duly adopted at a regular meeting of the Successor Agency to the Palm Desert Redevelopment Agency Board on January 12, 2023, by the following vote: AYES: HARNIK, NESTANDE, QUINTANILLA, TRUBEE, AND KELLY NOES: NONE ABSENT: NONE ABSTAIN: NONE RECUSED: NONE IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of Palm Desert, California, on _____________________. ANTHONY J. MEJIA SECRETARY Kathleen Kelly (Jan 13, 2023 12:40 PST) Kathleen Kelly Anthony Mejia (Jan 13, 2023 12:41 PST) Anthony Mejia (Jan 13, 2023 12:41 PST) Jan 13, 2023 Resolution No. SA-RDA 099 Page 4 EXHIBIT A SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY RECOGNIZED OBLIGATION PAYMENT SCHEDULE (July 1, 2023 – June 30, 2024) (See following page) Recognized Obligation Payment Schedule (ROPS 23-24) - Summary Filed for the July 1, 2023 through June 30, 2024 Period Successor Agency: Palm Desert County: Riverside Current Period Requested Funding for Enforceable Obligations (ROPS Detail) 23-24A Total (July - December) 23-24B Total (January - June) ROPS 23-24 Total A Enforceable Obligations Funded as Follows (B+C+D) $ 355,487 $ -$ 355,487 B Bond Proceeds - - - C Reserve Balance - - - D Other Funds 355,487 -355,487 E Redevelopment Property Tax Trust Fund (RPTTF) (F+G) $ 12,998,737 $ 10,798,713 $ 23,797,450 F RPTTF 12,957,975 10,385,175 23,343,150 G Administrative RPTTF 40,762 413,538 454,300 H Current Period Enforceable Obligations (A+E) $ 13,354,224 $ 10,798,713 $ 24,152,937 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 Resolution No. SA-RDA 099 Page 5 Exhibit A Palm Desert Recognized Obligation Payment Schedule (ROPS 23-24) - ROPS Detail July 1, 2023 through June 30, 2024 A B C D E F G H I J K L M N O P Q R S T U V W Item # Project Name Obligation Type Agreement Execution Date Agreement Termination Date Payee Description Project Area Total Outstanding Obligation Retired ROPS 23-24 Total ROPS 23-24A (Jul - Dec) 23-24A Total ROPS 23-24B (Jan - Jun) 23-24B Total Fund Sources Fund Sources Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF $569,872,502 $24,152,937 $- $- $355,487 $12,957,975 $40,762 $13,354,224 $- $- $- $10,385,175 $413,538 $10,798,713 9 Indian Springs Stipulated Agreement Litigation 02/27/ 2009 02/27/2039 Indian Springs Mobilehome Park Judgement related to ISMHP 1 7,095,092 N $139,674 - - - 69,837 - $69,837 - - - 69,837 - $69,837 32 Stipulated Judgement Case No. 51124 Litigation 11/20/ 1991 11/25/2032 Various Duties required under said court order. Desert Rose, Etc. PDHA subsidy for 1,100 Afford Units 1 221,173,384 N $- - - - - - $- - - - - - $- 43 Agency Owned Properties Property Maintenance 07/01/ 2013 06/30/2028 Utilities, Maint Services, HOA Dues, Etc. Agency owned properties monthly carrying costs prior to disposition. 1 450,000 N $135,000 - - - 67,500 - $67,500 - - - 67,500 - $67,500 44 Additional Disclosures on TAB's Fees 07/01/ 2013 06/30/2042 Willdan Additional disclosures that will be required to report changes in the allocation of tax increment and the payment on tax allocation bonds due to AB 26. These disclosures would not have been necessary without this legislative change. 1 30,000 N $1,500 - - - 750 - $750 - - - 750 - $750 56 2003 Tax Allocation Bonds Issued On or 03/12/ 2003 08/01/2033 US Bank Semi-Annual Debt Service 2 19,333,788 N $1,639,632 - - - 364,816 - $364,816 - - - 1,274,816 - $1,274,816 Resolution No. SA-RDA 099 Page 6 A B C D E F G H I J K L M N O P Q R S T U V W Item # Project Name Obligation Type Agreement Execution Date Agreement Termination Date Payee Description Project Area Total Outstanding Obligation Retired ROPS 23-24 Total ROPS 23-24A (Jul - Dec) 23-24A Total ROPS 23-24B (Jan - Jun) 23-24B Total Fund Sources Fund Sources Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Bond Issue - $15,745,000 Before 12/ 31/10 Payment 61 City Loan for formation of Project Area No. 2- 1986 City/County Loan (Prior 06/28/11), Cash exchange 12/05/ 1986 07/15/2038 City of Palm Desert Formation of PA/Prop Acquisition 2 7,890,000 N $- - - - - - $- - - - - - $- 86 Stipulated Judgement Case No. 51124 Litigation 11/20/ 1991 07/15/2038 Various Duties required under said court order. Vineyards, Emerald Brook (Palm Desert 103) PDHA subsidy for 1,100 Afford Units 2 63,072,039 N $- - - - - - $- - - - - - $- 119 Stipulated Judgement Case No. 51124 Litigation 11/20/ 1991 07/15/2038 Various Duties required under said court order. Falcon Crest Afford Housing Dev - Homeowners at lots 1 through 93, et al. PDHA Subsidy for 1,100 Affordable Units 3 16,602,589 N $- - - - - - $- - - - - - $- 160 Stipulated Judgement Case No. 51124 Litigation 11/20/ 1991 07/15/2038 Various Duties required under said court order. PDHA subsidy for 1,100 Affordable Units 4 49,236,464 N $- - - - - - $- - - - - - $- 189 Project Area Administration Admin Costs 11/25/ 1981 07/19/2044 Various Allowable Costs per Admin Plan- staff, utilities, professional services, etc. 1-4 8,033,143 N $809,787 - - 355,487 - 40,762 $396,249 - - - - 413,538 $413,538 Resolution No. SA-RDA 099 Page 7 A B C D E F G H I J K L M N O P Q R S T U V W Item # Project Name Obligation Type Agreement Execution Date Agreement Termination Date Payee Description Project Area Total Outstanding Obligation Retired ROPS 23-24 Total ROPS 23-24A (Jul - Dec) 23-24A Total ROPS 23-24B (Jan - Jun) 23-24B Total Fund Sources Fund Sources Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF 190 Costs Associated with Disposition of Assets Property Dispositions 07/01/ 2013 06/30/2028 City of Palm Desert Remediation of Health and Safety Issues and costs related to sale of properties owned by former RDA 1-4 350,000 N $28,500 - - - 19,500 - $19,500 - - - 9,000 - $9,000 192 2017 NHA Tax Allocation Refunding Bond Issue - $52,390,000 Bonds Issued After 12/31/10 01/23/ 2017 10/01/2033 US Bank Semi-Annual Debt Service Payment 1-4 43,631,875 N $5,474,875 - - - 1,267,625 - $1,267,625 - - - 4,207,250 - $4,207,250 193 2017 NHB Tax Allocation Refunding Bond Issue - $140,130,000 Bonds Issued After 12/31/10 01/23/ 2017 10/01/2041 US Bank Semi-Annual Debt Service Payment 1-4 123,736,200 N $12,052,401 - - - 7,636,263 - $7,636,263 - - - 4,416,138 - $4,416,138 194 2017 HA Tax Allocation Refunding Bond Issue - $7,365,000 Bonds Issued After 12/31/10 01/23/ 2017 10/01/2031 US Bank Semi-Annual Debt Service Payment HA 6,047,503 N $681,143 - - - 341,259 - $341,259 - - - 339,884 - $339,884 195 2017 HB Tax Allocation Refunding Bond Issue - $45,815,000 Bonds Issued After 12/31/10 01/23/ 2017 10/01/2023 US Bank Semi-Annual Debt Service Payment HA 3,190,425 N $3,190,425 - - - 3,190,425 - $3,190,425 - - - - - $- Resolution No. SA-RDA 099 Page 8 Palm Desert Recognized Obligation Payment Schedule (ROPS 23-24) - Report of Cash Balances July 1, 2020 through June 30, 2021 (Report Amounts in Whole Dollars) Pursuant to Health and Safety Code section 34177 (l), 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 ROPS 20-21 Cash Balances (07/01/20 - 06/30/21) Fund Sources Comments Bond Proceeds Reserve Balance Other Funds RPTTF Bonds issued on or before 12/31/10 Bonds issued on or after 01/01/11 Prior ROPS RPTTF and Reserve Balances retained for future period(s) Rent, grants, interest, etc. Non-Admin and Admin 1 Beginning Available Cash Balance (Actual 07/01/20) RPTTF amount should exclude "A" period distribution amount. 724,832 1,328,559 87,582 Line G5 from PY Cash Balance 2 Revenue/Income (Actual 06/30/21) RPTTF amount should tie to the ROPS 20-21 total distribution from the County Auditor-Controller 26,824 34,043,082 Includes PMP Sales (if any), Interest, RPTTF Dep 3 Expenditures for ROPS 20-21 Enforceable Obligations (Actual 06/30/21) 126,000 324,334 33,840,816 Include PMP Sales Proceeds (if any) to CAC, reduction to energy investment, permitted admin from other on 20/21 ROPS and RPTTF expenses 4 Retention of Available Cash Balance (Actual 06/30/21) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 598,832 877,828 87,582 *DDR/Other Restrict Cash: Energy Inv ($542,000)/Litigation Dep ($56,832)/Dist from Bal in 21/22 ($255,765)/Dist from Bal in 22/23 ($611,063) Other Funds to line 43 and 56/Dist from RPTTF Bal to line 190 in 22/23 ($87,582) 5 ROPS 20-21 RPTTF Prior Period Adjustment RPTTF amount should tie to the Agency's ROPS 20-21 PPA form submitted to the CAC No entry required Resolution No. SA-RDA 099 Page 9 Pursuant to Health and Safety Code section 34177 (l), 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 ROPS 20-21 Cash Balances (07/01/20 - 06/30/21) Fund Sources Comments Bond Proceeds Reserve Balance Other Funds RPTTF Bonds issued on or before 12/31/10 Bonds issued on or after 01/01/11 Prior ROPS RPTTF and Reserve Balances retained for future period(s) Rent, grants, interest, etc. Non-Admin and Admin 6 Ending Actual Available Cash Balance (06/30/21) C to F = (1 + 2 - 3 - 4), G = (1 + 2 - 3 - 4 - 5) $- $- $- $153,221 $202,266 Matches PPA Resolution No. SA-RDA 099 Page 10 Palm Desert Recognized Obligation Payment Schedule (ROPS 23-24) - Notes July 1, 2023 through June 30, 2024 Item # Notes/Comments 9 32 43 44 56 61 86 119 160 189 190 192 193 194 195 Resolution No. SA-RDA 099 Page 11 Resolution No. SA-RDA 099 Page 12 EXHIBIT B SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY ADMINISTRATIVE BUDGETS (July 1, 2023 – December 31, 2023); and (January 1, 2024 - June 30, 2024) (See following page) Exhibit "B" BASED ON PY RPTTF DEPOSIT ROPS 23-24A ROPS 23-24B Jul 1 - Dec 31, 2023 Jan 1 - June 30, 2024 Administrative Cost Allowance 396,249 413,538 ROPS 23-24A Budget ROPS 23-24B Budget Source of ADMINISTRATIVE COSTS Jul 1 - Dec 31, 2023 Jan 1 - June 30, 2024 Payment Auditing Service 10,000 7,500 A Bank Fees 7,500 20,000 A Consulting Services 5,000 5,000 A Legal Services 50,000 50,000 A Personnel Expenditures1 323,749 2 331,038 2 A, B Total Administrative Costs 396,249 413,538 A - Administrative Allowance, B - City General Fund 1 Includes salaries, training, travel, meetings, supplies, equipment, etc. Successor Agency to the Palm Desert Redevelopment Agency ROPS 2023-2024 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. 12/25/2022 10:19 PM Proposed Administrative Budgets A&B - June 30, 2024 1.19.23.xlsx Resolution No. SA-RDA 099 Page 13