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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 I E I E jI I III III F r' rc I aap� Ema zp o _tKI O »I I m LL _ c _ - n m u K u m - I N _a m I y -u S 2 m °QI I I _ Ev I_ Ir a i I I �U � I Q 'T I O 9 n I n2 I o E - I I - I O� c Q _ E¢> p�A E is I. 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