OB - 2014-0008 - Approving the Recognized Obligation Payment Schedules for the Period of Janurary 1, 2014 Through June 30, 2015RESOLUTION: 2014 -0008
A RESOLUTION OF THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY
TO THE ROSEMEAD COMMUNITY DEVELOPMENT COMMISSION APPROVING
THE RECOGNIZED OBLIGATION PAYMENT SCHEDULES FOR THE PERIOD OF
JANUARY 1, 2014 THROUGH JUNE 30, 2014
WHEREAS, California Health and Safety Code section 34179 requires that each
Successor Agency have an Oversight Board; and
WHEREAS, Section 34177 requires each Successor Agency to prepare a draft
Recognized Obligation Payment Schedule ('BOPS') and section 34180 requires the Oversight
Board to approve same; and
WHEREAS, Section 34177 provides that each ROPS shall be forward looking to the
next six months; and
WHEREAS, section 34177 requires that the ROPS be transmitted to the County
Auditor - Controller, the State Controller and the State Department of Finance; and
WHEREAS, notwithstanding the sequencing contemplated in section 34177, the
Department of Finance is requesting the ROPS be considered by the Oversight Board and
transmitted as soon as possible; and
WHEREAS, the County will not make any payments of property taxes to the Successor
Agency for use in payment of the obligations listed on the ROPS until the ROPS has been
approved by the Oversight Board. Any delay in such payment could impair the Successor
Agency's ability to make payments for the enforceable obligations; and
WHEREAS, the Successor Agency prepared a draft ROPS for the period January 1,
2015 through June 30, 2015 is attached hereto as Exhibit A.
NOW THEREFORE, THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY
TO ROSEMEAD COMMUNITY DEVELOPMENT COMMISSION HEREBY RESOLVES:
1. The ROPS for the period January 1, 2015 through June 30, 2015 attached hereto as
Exhibit A is hereby approved.
2. Successor Agency staff is directed to provide a copy of this Resolution along with
the approved ROPS to the County Auditor - Controller, the State Controllers Office
and the State Department of Finance.
PASSED, APPROVED AND ADOPTED this 17th day of September 2014.
Chairperson
ATTEST:
Matth @w E.HAwkesworth
Successor Agency Staff
Assistant City Manager
I HEREBY CERTIFY that the above foregoing resolution was duly passed and adopted by the Oversight
Board for the Successor Agency to the Rosemead Community Development Commission at the special
meeting on the 17" day of September 2014, by the following vote, to wit:
AYES: Allred, Jones, Lash, Miller, Sotelo
NOES: None
ABSENT: Redondo - Churchward Miller, Wallach
ABSTAINED: None
Math w E. Ha kesworth
Successor Agency Staff
Assistant City Manager
Recognized Obligation Payment Schedule (ROPS 14 -15B) - Summary
Filed for the January 1, 2015 through June 30, 2015 Period
Name of Successor Agency: Rosemead
Name of County: Los Angeles
Current Period Requested Funding for Outstanding Debt or Obligation
Six -Month Total
Enforceable Obligations Funded with Non - Redevelopment Property Tax Trust Fund (RPTTF) Funding
A
Sources (B +C +D):
$
6,064,842
B
Bond Proceeds Funding (ROPS Detail)
6,054,842
C
Reserve Balance Funding (ROPS Detail)
-
D
Other Funding (ROPS Detail)
-
E
Enforceable Obligations Funded with RPTTF Funding (F +G):
$
1,193,763
F
Non - Administrative Costs (BOPS Detail)
1,068,763
G
Administrative Costs (ROPS Detail)
125,000
R
Current Period Enforceable Obligations (A -E):
$
7,248,605
Successor Agency Self- Reported Prior Period Adjustment to Current Period RPTTF Requested Funding
I
Enforceable Obligations funded with RPTTF (E)'.
1,193,763
J
Less Prior Period Adjustment (Report of Prior Period Adjustments Column S)
(21,331)
K
Adjusted Current Period RPTTF Requested Funding (W)
$
1,172,432
County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding
L Enforceable Obligations funded with RPTTF (E): 1,193,763
M Less Prior Period Adjustment (Report of Prior Pedod Adjustments Column AA) -
N Adjusted Current Period RPTTF Requested Funding (L-M) 1,193,763
Certification of Oversight Board Chairman
Pursuant to Section 34177 (m) of the Health and Safety code, I
hereby certify that the above is a true and accurate Recognized Name Title
Obligation Payment Schedule for the above named agency.
/s/
Signature Date
Recognized Obligation Payment Schedule (ROPS 14 -15B) - ROBS Detail
January 1, 2015 through June 30, 2015
(Report Amounts In Whole Dollars)
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Funding Source
Non - Redevelopment Property Tax Trust Fund
Non - RPTTF
RPTTF
Reserve
ConlractlAgreement
ContractlAgreement
Total Outstanding
Item
Project Name /Debt Obligation
Obligation T
Execution Date
Termination Date
Pa ee
DeecriptionlPro"ecl Scope
Pro ecl Area
Debt or Obligation
Retired
Bond Proceeds
Balance
— Other Other Funds
Non-Admin
Admin
Six -Month Total
5 76,505807
$ 6054.842
S
S -
S 1 068 763
8 125,000
6 7,248605
1
2006A Tax Increment Bonds
Bonds Issued On or
22312006
1011/2022
US Bank
Tax Increment Bond Debt Service
Merged
6,713,850
N
13U]03
130,703
2
20068 Tax Increment Bonds
Bonds Issued On or
12/21/2006
101112033
US Bank
Tax Increment Bond Debt Service
Merged
38,472,418
N
511,093
511,093
Before 12131110
3
2010 Tax Increment Bonds
Bonds Issued On or
62912010
1211/2023
US Bank
Tax Increment Bond Debt Service
Merged
10 898,738
N
197560
197 560
Before 12131110
4
Continuing Disclosure on Bonds
Admin Costs
6/12008
12131/2023
Urban Futures
Continuing Disclosure service for
Merged
N
-
2006A 20068 and 2010 Bonds
5
State Controllers Report
Bonds Issued After
4112/2011
613012016
RAMS
Preparation of Annual Report
Merged
N
12/31/10
6
Bond Trustee Fees
Admin Costs
2123/2006
10/112033
US Bank
Banking fees related to the 2006A.. B
Merged
N
and 2010 Bonds
7Annual
Audit
Admin Costs
411212011
613012016
RAMS
Annual audit services
Merged
N
8Finance
System
Atlmin Costs
3/28/2011
4/1/2016
Bank of the West
Lease Obllgatlonfor finanasaystem
Merged
N
-
9
Statement ofIndebtedness
Admin Costs
5/612011
1213112023
Redevelopment Reporting
Preparation of Annual Report
Merged
N
-
Solutions
10
Arbitrage Calculations
Admin Costs
7/11/2001
12131/2023
Winder
Preparation of arbitrage recote
Merged
N
-
calculation
11
Property Tax Audits /Monitoring
Atlmin Costs
611312007
1213112023
HDL
Monitor property lax collections and
Merged
N
-
appeals to ensure bond coverage
12
Rosemead Community CV. Parking
ImprovemenVlnfraslr
4 11912011
6/30/2011
Boghossian Engineering
Community center parking lot design
Merged
N
-
Lot
ucture
13
Rosemead Community Ctr. Parking
Improvement/Infmslr
8 11012011
3131/2012
Willdan
Material lestingforparking lot
Merged
N
-
Lot
ucture
engineering
14
Zapopan Park Improvements
ImprovemenVlnfraslr
611212013
1213112023
Cry of -Rosemead
ADA accessibility 8 additional parking
Merged
N
-
ucture
15
Rosemead Park Improvements
ImprovemenVlnfraslr
6112 12013
12/31/2023
City of Rosemead
ADA accessibility improvements
Merged
N
-
ucture
16
Rosemead Community CV. Parking
ImprovemenVlnfrastr
61
12131/2023
Ciry of Rosemead
ADA accessibility , teen center 8
Merged
N
-
Lot
ucture
outdoor space
17
New Park at Rush B Walnut Grove
ImprovemenVlnfraslr
_
611212013
12131/2023
City of Rosemead
Community infrastructure
Merged
N
ucture
improvements
18
Sewer System Expansion
ImprovemenVlnfrastr
6/12 /2013
12131/2023
City of Rosemead
Sewer main replacementlupgrade on
Merged
N
_
ucture
Garvey AVe.
19
Employee Overhead Costs
Admin Costs
71112011
1213112023
City of Rosemead
Administrative costs (staffing, audits,
Merged
N
-
legal, supplies, etc.)
20
Valley Blvd Street Improvements
ImprovemenVlnfrastr
611212013
1213112023
City of Rosemead
Infrastructure improvements-
Merged
N
round
Downtown Corridor
21
Rosemead Park Turf Renovations
ImprovemenVlnfrastr
6112/2013
1213112023
City of Rosemead
Community infrastructure
Merged
N
-
ucture
improvements
22
Senior Housing Land Lease-
Miscellaneous
8113/2002
12/3112099
Rosemead Housintl
Cost of annual land lease for property
Merged
2.371,200
N
45600
45600
Angelus
Development Corporation
23
Senior Housing Operations
Miscellaneous
8113/2002
1213112099
Rosemead Housintl
Cost of annual operations and
Merged
2.940,600
N
56550
56550
Overhead Angelus
Development Corporation
overhead subsidy
24
Senior Housing Shortall Subsitly-
Miscellaneous
811312002
12/31/2099
Rosemead Housintl
Cost to cover shortfall between rents
Merged
426531
N
8 202
_
6202
Angelus
Development Corporation
and operations/maintenance
_-
25
Senior Housing Land Lease -Garvey
Miscellaneous
811312002
12/312099
Rosemead Houaind
Cost of annual land lease for property
Merged
4,018,384
N
46100
46.100
Development Corporation
26
Senior Housing Operations
Miscellaneous
8/1312002
12/312099
Rosemead Housintl
Cost of annual operations and
Merged
4929,275
N
56.550
56.550
Overhead -Garvey
Development Corporation
overhead subsidy
-
27SeniorHousingStencilSubsidy
Miscellaneous
81132002
12/312099
Rosemead Housed
Cost to cover shortfall beN+een rents
Merged
1,429969
N
_
16405
16405
Carve
Development Corporation
antl operations /maintenance
30
Lean Repayment to City of
City /County Loans
9/1812013
613012014
Ciry of Rosemead
Short -term loan from City to front the
Merged
6A54.842
N
6.054.842
6054.042
Rosemeatl
After 627111
costs of Bond Proceeds Funded
Projects-
Recognized Obligation Payment Schedule (ROPS14 -15B) - ROPS Detail
January 1, 2015 through June 30, 2015
(Report Amounts in Whole Dollars)
A
8
L
D
E
F
G
N
1
J
K
L
M
_
N
-
0
P
Item# Pro'ecl Name /Debt Obligation
34 Administrative Cost Allowance
Obligation T a
Admin Costs
Contioct/Agreement
Execution Dale
7/1/2014
Contract/Agreement
Termination Date
6/302015
Payee
City of Rosemead
Descriptionpro'ecl Scope
Administrative Cost Allowance
Project Area
Total Outstanding
Debt or Obligation
250,000
Retired
N
Funding Source
Six -Month Total
125,000
Non - Redevelopment Property Tax Trust Fund
Non - RPTTF
RPTTF
Bond Proceeds
Reserve
Balance
Other Funds
Non -Admin
Admia
125,00r,
35
N
36
N
3]
N
-
38
N
-
39
N
40
-
- -_
N
41
N
42
N
43
_.
N
44
N
45
N
46
47
N
N
48
N
-
49 - -
N
5o
N
N
52
N
53
5a
_
N
N
55
N
56
N
5]
N
58
N
59
N
60
N
61
N
62
N
63
N
65
N
N
66
6]
fib
N
N
69
JO
N
N
]1
72
N
N
-
73
74
N
N
]5
]fi
N
N
]8
N
78
N
]9
N
N
80
_
81
82
N
IN
831
N
84
N
85
N
86
N
8 ]
N
Recognized Obligation Payment Schedule (ROPS 14 -15B) - Report of Cash Balances
(Report Amounts in Whole Dollars)
Pursuant to Health and Safety Code section 34177 (1), Redevelopment Property Tax Trust Fund (RPTTF) maybe listed as a source of payment on the ROPS, but only to the extent no other funding source is available
or when payment from property tax revenues is required by an enforceable obligation. For tips on how to complete the Report of Cash Balances Form, see https://rad.dof.ca.gov/rad-
sa /pdf /Cash Balance Agency Tips Sheet.pdf.
A
B
C
D
E
F
G
H
I
Fund Sources
Bond Proceeds
Reserve Balance
Other
RPTTF
Prior ROPS
Prior ROPS
period balances
RPTTF
Bonds Issued
Bonds Issued
and DDR RPTTF
distributed as
Rent,
Non - Admin
on or before
on or after
balances
reserve for
Grants,
and
Cash Balance Information by ROPS Period
12/31110
01101/11
retained
future period(s)
Interest, Etc.
Admin
Comments
ROPS 13 -14B Actuate (01/01114 - 06130/14)
1
Beginning Available Cash Balance (Actual 01101114)
7,091.679
-
2
Revenue /Income (Actual 06130114)
RPTTF amounts should tie to the ROPS 13 -14B distribution from the
County Auditor - Controller during January 2014
11,421
-
1,188.115
3
Expenditures for ROPS 13 -14B Enforceable Obligations (Actual
06/30114)
RPTTF amounts, H3 plus H4 should equal total reported actual
expenditures in the Report of PPA, Columns L and Q
1,049,301
1,171,984
4
Retention of Available Cash Balance (Actual 06130114)
RPTTF amount retained should only include the amounts distributed for
debt service reserve(s) approved in POPS 13 -14B
6,053,799
-
5
ROPS 13 -14B RPTTF Prior Period Adjustment
RPTTF amount should tie to the self- reported ROPS 13 -14B PPA in the
No entry required
Report of PPA, Column S
21,331
6
Ending Actual Available Cash Balance
C to G = (1 + 2 - 3 - 4), H = (1 + 2 - 3 - 4 - 5)
(0)
d
5,200
ROPS 14 -15A Estimate (07101114 - 12131114)
7
Beginning Available Cash Balance (Actual 07/01114)
(C, D, E, G = 4 + 6, F = H4 + F4 + F6, and H = 5 + 6)
6,053,799
16,131
8
Revenue /Income (Estimate 12131114)
RPTTF amounts should tie to the ROPS 14 -15A distribution from the
County Auditor - Controller during June 2014
-
94,137
3,153,625
9
Expenditures for ROPS 14 -15A Enforceable Obligations (Estimate
12131114)
6,053,799
3,153,625
10
Retention of Available Cash Balance (Estimate 12131114)
RPTTF amount retained should only include the amount distributed for
debt service reserve(s) approved in ROPS 14 -15A
11
Ending Estimated Available Cash Balance (7 + 8 - 9 -10)
(0)l
94,137
16,131
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