The URL can be used to link to this page

Home My WebLink AboutOB RESO 1-2014RESOLUTION NO. 01-2014 OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF SOUTH SAN FRANCISCO APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS) AND ADMINISTRATIVE BUDGET FOR THE PERIOD JT.JLY THROUGH DECEMBER 2014, PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177(1) WHEREAS, pursuant to Health and Safety Code Section 34177(l), before each six-month fiscal period, the successor agency to a dissolved redevelopment agency is required to prepare a draft Recognized Obligation Payment Schedule ("ROPS") that lists all of the obligations that are "enforceable obligations" within the meaning of Health and Safety Code Section 34177, and which identifies a source of payment for each such obligation from among (i) bond proceeds, (11) reserve balances, (iii) the administrative cost allowance, (iv) revenues from rents, concessions, interest earnings, loan repayments, or asset sales, or (v) the Redevelopment Property Tax Trust Fund established by the County Auditor- Controller to the extent no other source of funding is available or payment from property tax is contractually or statutorily required; and WHEREAS, the draft ROPS must be concurrently submitted to the County Administrative Officer, the County Auditor - Controller; the State Department of Finance and the Oversight Board established to review Successor Agency actions; and WHEREAS, pursuant to Health and Safety Code Section 341770), the Successor Agency also must prepare a proposed administrative budget and submit it to the Oversight Board for approval, including the estimated amounts for Successor Agency administrative costs for the upcoming six-month fiscal period and proposed sources of payment for those costs; and WHEREAS, once the ROPS is approved by the Oversight Board, the ROPS must be posted on the Successor Agency's website and transmitted to the County Auditor - Controller, the State Department of Finance, and the State Controller. NOW, THEREFORE, the Oversight Board for the Successor Agency to the Redevelopment Agency of the City of South San Francisco does hereby resolve as follows: 1. The Recitals set forth above are true and correct, and are incorporated herein by reference. 2. The Recognized Obligation Payment Schedule (RODS) and administrative budget for the period July I through December 31, 2014 attached hereto as Exhibit A are hereby approved. 1 The Finance Director is authorized to modify the ROPS to correct errors and provide clarifications consistent with requirements of the Department of Finance and the intent of this Resolution. 4. The City Manager or designee is authorized and directed to take all actions necessary to implement this Resolution, including without limitation, the submittal of the ROPS to the County Auditor-Controller, the County Administrative Officer, the State Department of Finance, and the State Controller, and the posting of this Resolution and the ROPS on the Successor Agency's website. 5. The Oversight Board Chairperson or Vice Chairperson in his absence is hereby authorized to certify the RAPS. I hereby certify that the foregoing Resolution was regularly introduced and adopted by the Oversight Board of the Successor Agency to the Redevelopment Agency of the City of South San Francisco at a regular meeting held on the 18th of February, 2014 by the following vote: AYES: Boardmembers Mark Addiego, Gerry Beaudin, Barbara Christensen, Paul Scannell, Vice Chairperson Patricia Emsberger and Chair p arson Neil Cullen. NOES: None. ABSTAIN: None. ABSENT: Boardinember Reyna Farrales. 2147387.1 EXHIBIT A Recognized Obligation Payment Schedule (ROPS 14 -15A) - Summary Filed for the July 1, 2014 through December 31, 2014 Period Name of Successor Agency: South San Francisco Name of County: San Mateo 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): $ 4,422,465 B Bond Proceeds Funding (HOPS Detail) 2,096,965 C Reserve Balance Funding CROPS Detail) 1,850,000 D Other Funding (ROPS Detail) 475,500 E Enforceable Obligations Funded with RPTTF Funding (F+G): $ 5,883,313 F Non - Administrative Costs (ROPS Detail) 5,711,445 G Administrative Costs (ROPS Detail) 171,868 H Current Period Enforceable Obligations (A +E): $ 10,305,776 Successor Agency Self- Reported Prior Period Adjustment to Current Period RPTTF Requested Funding Enforceable Obligations funded with RPTTF (E): 5,883,313 J Less Prior Period Adjustment (Report of Prior Period Adjustments Column S) (2,562,870) K Adjusted Current Period RPTTF Requested Funding (Ii $ 3,320,443 County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding L Enforceable Obligations funded with RPTTF (E)r. 5,883,313 M Less Prior Period Adjustment (Report of Prior Period Adjustments Column AA) - N Adjusted Current Period RPTTF Requested Funding (L -M) 5,883,313 Certification of Oversight Board Chairman: Neil Cullen Oversight Board Chair 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. ,,,0 � � 151 /4 z / /E for s� 4 Signature Date Page 1 of 11 EXHIBIT A Recognized Obligation Payment Schedule (BOPS) 14 -15A - ROPS Detail July 1, 2014 through December 31. 2014 (Repo./ Amounts in Whole JGI-) A B C D E F G H I J K L M N D P ham? Project Name l Debt Chi a Obligz[onT e CommctiAgreemenl E%e0u00n UaI_e_ Con..cv/gp reement Terminetfon Oale Pe a Oescrl tlor /Pro ect BCOe Proect Ares Tolel OUtfandlcg Debt or Obliation Retired F Mlin Source Six- Hlonlh Total Non - Redevelopment PrOporty Tax Trust Fund (Non- RPTTF) RPTTF Bond Proceeds Reserve Balance Other Furds AdTin _$ 206.3]54]2 $ E__1,850,OOC $ 4]5,500 $ 1]1_888 $ 10,305,]]8 3Debt 4 Sery Pdnc ITax Allot BO^ Dods DeTaAllo<. Bonds ROntlslssusd Onor Bonds Issued On or 12/31;10 11112006 1/112006 911/2035 911 Y2035 Bank of New VOrk _ Bank of New York 2006 Tax Allot Bonds M, 2006 Tax Allot Roods (TARS) Mar ad Megetl 000 30,498034 N N ___2096965 245,000 _ _ 4)5,500 LODa $ 11102Before ] Oebt Sery Principal Hsg Rev Bonds Revenue Bontls ssued After 121 ?1110 1!111999 9/112018 Bank of New VoM 1999 Housing Revenue Bonds M5,9ed I "GCOO N 1�2 $ 230,000 Sery Inlarcst Hay Rev Bonds Revenue Bonds ued A-1 2 /31;10 1/111999 9/112016 Bank of New York 1999 Housing Revenue Bonds Merged 162,970 N $ 32,250 bnd Admin /DisGOSUre Cost =_TAB =_ Fses 1/1 /2006 9/112036 Bark c`New YOrklWllldan Coslsmadminister the bonds Merged 15000 N Bnd ACminlDiso C11b He goods Fees +AA999 9111'2018 B- of Naw YOrk/Wlldan Costs to adminlster tM1e M1OL16n hcnds Mer ed 23300 N $ 2,600 12 Oyslor POinl Verfures WA OPA/DDA/COnstrueti 3/2312411 1111112026 Gyamr %Ventures LlG Scc0on &4.1 of DDAtinim s'Ir required Merged 2,483,230 N 3,000,000 $ 3,000.000 ''3 Oyster POirt Ver0l yes UUA OPAIDDA /COnslrucd 31212011 1111';2026 Va rious controclors,'sta ` f Secs. 4S Clos9 /escrows 5l environ Ircdemn'.ficallon; 5.3 methane anllorino Megetl 20,000,100 N $ 14 Oyster Poin: Ventures ODA Project Management G 3Y232011 '.11'12018 Lega VSUff gsts Solt profect management toss Merged 1,36],663 N 12,000 $ 12,C00 15 Harbor District Agreement Imp' ro•emenUlnlmalr Ptr'e 31252011 111/112028 Harbor Dlsldct S-1 _611mprvmt1 9 w8 reimbrsrr. Mergetl V $ - 16 Harbor D. strlcl Agreement Improvemertllnfrastr LMUre 312512011 1111112026 Harbor District Secs. 5.0 leas rev, 7.0 re Mergetl 1,]93.248 N $ 17 Harb-O-1ct Agreement Project Management Costs 312612011 11/1112026 LeAel.StaH vests Soh profect manage ment msts Ma7getl 820]34 N 12,000 $ 12,000 21 Train Slatlon Imprvmrt£ Ph 11pf1002) Remadionon 3111/2009 1213112014 T- ACCUtiteNJisley Ilam Convac etl work -site remeoietion Merged 95. C85 N 611]5 $ 8? 115 22 Train Slat on lmpr li, Ph-1 Plp- Management Culls 311112009 1213112014 stair CCS1s SoH proJecY menegamen - costs Merged 16,]59 N 10,146 $ 10,146 23 Taln Slatlon In rumors Pl.ase2 Remediztion 12/8120C9 1291/2014 Variorls contractors S41 temediatlon er Cal T,-A rmt. Memel 663010 N 150.000 $ 150.000 24 Train Slatlon 11rul -Ill Phase2 Project Management Cos 1219/2019 12131/2014 LegeVSta0 oosb Sufl Project management costs Merged 152.342 N 50,000 $ SO,pOp 40 SRtllon Arca;Plennmy LU Progrem Profeot Mana9ement Cons 219/2011 12131/2014 staff Costs Mulch funding for State grant (101102) Merged 11.652 N 11,652 $ 11,652 45 Maimen -of W, Hot, Propediea Property Main nee 211/2012 12121/2011 Various mntraators Rehab .rope ;., main•.enence, &utilltles Mergetl 3,562.966 N 80,000 $ 60,000 48 Maintenarne of NOn4isg %ope4iea %opehy Main 2/ 2012 12131/2014 1 GGMU3tzff mss Soil prol Y management costs Merged 1.359.373 N 80,000 $ 20,000 47 Adminisl -abort COSH Ad -Goats 21112C12 12'31/2-0'4 V11 "'11 mnhae 111,IS1 Goals to edmini sler Sumessor Agency Meroed 1,400,000 N 10,100 $ 10,000 48 Administration C.s. Adnr r. Cat, 211120`2 12/3'./2D 14 Legal /Staff ms's Gcsls to adininiste�Suw -sssor Agency Meroed 1,40O,COO '1 197,098 $ 1911868 4C Property Disposition C- Property Dispoa tlona 2i' /2012 '.213112014 Various gorrtocti InitIIenNr. lesl1119, nolioiny, liting osts Meroed 2,9]6,293 N 592,500 $ 592,500 60 Progeny Disposition COSts Property Dispositions 211 ;2012 1213112014 Le9allsbff .,oats Soi[profeotmana9emenl op to Merged 426,102 N 2]5,000 $ 2]6,000 51 Anaued PERS Pension Obligations Ulf- -,! Liabil lies 111/1980 8/30/2016 -PEPS C-, ncutred lh-gh 0 210 1 /2 61 2 Merged 675,200 N 168,800 5 198,800 52 Accrued Refuse Hea'4h Obligatiens Unfunded Liabilities 1111'980 6 ;30;2016 Ca1PER5 Retltee Rere61 Trua I (C 111 Cots inourred lhrcugh =-=12 Mergetl 790,400 N 141,900 8 197,600 55 Fund 7,11 -ACet to sa112006 Tax A'locakan Fords Misxllanaeua 51812012 9,',2016 Bank of New VOrk Fund esrrow amllo call rows 4 &5at first mtlem tlon date of 91//2016 Mergetl 56,1]5,609 N $ - 511999 Housing Bgntl Proceeds Bonds Issuod On or Beore 12/31110 1L/23/2013 1213112014 Fu0.1re Developer To be used or lour /mod housing dev Mergetl 2,381,592 N 2,096.965 S 2,098, 966 65 l➢dn Agreement with City of SSF addl0ona a lent to conheclor 4/162013 1/3112014 Cltyof SorOh San Frzncisco Funtl rrctlioonel paym¢nt to oon0eclor o`ROPS III Coat esJmate Merged V $ - Page 2 of 11 EXHIBIT A Recognized Obligation Payment Schedule (RGPS) 14-15A - I Detail July 1, 2014 through December 31, 2014 (Report A—I n— W bole Dollars) A tl c D E F G H I J K L M N O P F�ndin Seurce Non- Redevslc.. rt Progeny Tax Trust Fund Nom RPTTF` RPTTF Gont'acVAyreenanf ConfracflAGreanenl Total 1-amtl Pro scl Namel Debf Cblcaion a Obll tlonT pe Ezecctor Defe Tr,rrz nalio DI' ,Payee_ D.scrlctlorl, act SCOe P'o ecY Area rOblantlirg Dedt or Obl Ylon a ReYIrsO B dP "oec R Bala is _ _ Otl, Funds NniMemin _ ACmin Six -MOnIM1 TCIaI 661_, � enl,t.b]end,, SSF- ]11612013 3/3/2014 Clty or So bS Frenclsw F. nd addTOnalpa��nartm levee: n Msrpad V $ - atltll0onel peynlenl [o lender s of RGPS t esGmafe YM1eI rues Incurr ed during RGPS Ii. 6?tuan Agreement YVith Clly of SSF- &11]12019 8130P[014 OilyolSoeYb San Francisw Funtl ousts lncurretl tl�ring ROPE 111 lr IJlerged add�onal RGPS III costs in excess ,.s of original cost estimates o(apgrovetl rust mslimates 88 Loan Ag'eement wbb C ry of 55F- 9!1712013 613012014 Cr, of S-1, San Francisco Fund costa Inanread daring ROP5111 it Merged - addltlonal RODS III awls n e_s Omer re�am,a eaflmafea a sa of olhai revenue asyrnalee Page 3 of 11 EXHIBIT A Recognized Obligation Payment Schedule (ROPS) 14 -15A- Report of Cash Balances (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 lax revenues is required by an an dabble obligation. A B C D E F G H I Fund Sources Bond Proceeds Reserve Balance Other Prior HOPS RPTTF ffld.,.' Bonds Issued Bonds Issued Prior ROPE period distributed as Rent, on or before on or after balances and DDR rve for next Grants, Cash Balance Information by ROPS Period 12/31/10 01/01/11 balances retained bond payment Interest, Etc. Comments ROPS 13 -14A Actuate (07/01/13 - 12131/13 1 Beginning Available Cash Balance (Actual 07/01113) Note that for the RPTTF, 1 + 2 should tie to columns J and O in the 34,892,940 (Bank of New York Reserve acct) which may be used along with bond Report of Prior Period Adjustments (PPAs) retirement funds to call the 2006 bonds on the call date of 09/16/2016, Housing bond reserved in the amount of $341,557 retained per bond covenants. 2,381,532 53034,497 2,370.337 2 Revenue /Income (Actual 12/31/13) Note that the RPTTF amounts should tie to the POPS 13 -14A distribution from the Count Audtor- Controller during June 2013 15.433 80,585 1,502,354 5,850.803 3 Expenditures for ROPS 13 -14A Enforceable Obligations (Actual 12/31113) Note that for the RPTTF, 3 +4 should tie to columns L and Q in the Report of PPAs 1,300,900 6,668,270 4 Retention of Available Cash Balance (Actual 12131113) $4,692,940 (Bank of New York Reserve accl) which may be used along with bond Note that the RPTTF amount should only include the retention of reserves retirement funds to call the 2006 bonds on the call date of 09/16/2016, Housing bond for debt service approved in POPS 13 -14A 2,381,532 5,115,082 eserved In the amount of $341,557 retained per bond covenants Inc) interest of 580,585. 5 ROPS 13 -14A RPTTF Prior Period Adjustment Note that the RPTTF amount should tie to column S in the Report of No entry required PPAs. 2.Sfi2,870 6 Ending Actual Availahle Cash Balance C he G =(1 +2- "I),H= (1 +2- 3 -4 -5) § 15,433 $ - $ - $ - $ 21 $ 0 ROPS 13 -14B Estimate (01101114- 06130114) 7 Beginning Available Cash Balance (Actual 01101114) (C, D, E,G= 4 +6,F= H4 +F4 +F6, and H =5 +6) S 2,396,965 $ - $ 5,115,082 $ - $ 202,354 $ 2,562,870 8 Revenuelincome (Estimate 06130114) Note that the RPTTF amounts should tie to the POPS 13 -14B distribution from the County Auditor- Controller during January 2014 1,8509000 1,238,000 792940864 9 Expenditures for 13 -14B Enforceable Obligations (Estimate 06130114) 300.000 1,238.000 7,294,864 10 Retention of Available Cash Balance (Estimate 06130/14) $4,692,940 (Bank of New York Reserve acct) which may be used along with bond Note that the RPTTF amounts may include the retention of reserves for retirement funds to call the 2006 bonds on the call date of 0911612016. Housing bond debt service approved In ROPS 13-148 2A96.965 5; 118,082 reserved in the amount of 5341,557 retained per bond covenants Inc/ Interest of $80,585. 11 Ending Estimated Available Cash Balance (7+ 8.9 -10) $ $ - $ 1,850,000 $ $ 202,354 $ 2,562,870 $1,850,000 and $202,354 used for ROPS 14- 15Adebt service obligations Page 4 of 11 EXHIBIT A Recognized Obligation Payment Schedule (ROPS) I415A - Report of Prior Period Adjustments Reported for the ROPS 13 -14A (July 1, 2013 through December 31, 2013) Period Pursuant to Health and Safety Code (HSC) secllou 34186 (a) (Reoon Am.11%In `NFOIe Dollars) ROPS 13 -14A Successor Agency (SA) Self- reported Prior Period Adjustments (PPA): Pursuanl to HSC Sertinn 34166 (a), SAS are required to report the differences between their actual available funding ant their actual expenditures for the ROPS 13 -14A (July through December 2013) period. The amount of Redevelopment Property Tax Trust Fund (RPTTF) approved for he ROPS 14 -15A (July through December 2014) period will be offset by the SA 'S self - reported ROPS 13 -14A pulp, paned adjustment. HSC Section 34186 (a) also specifies that the prior period adjusonenls calf reported by SAS are subject Ip audit by the eirmy auditor- conlmller (CAC) and the State Controller. _ A B C D E G H I J K N 0 O 5 Non -RPTTF Expenditures RPTTF Expenditures Bond Proceeds ve 8alanee gird, Funds Non -Admin Admin -S Non -Admin n PPA Am Olhet ROPS s1415A Requested RPTTF) Item% Project Namel Actual rued -- A -- Au[1,3tb Actual Authorized Available RPTTF (ROPS 13 -14A tlistdbuted 1 all other avail able as of 0}11113) Net leaser of Authoraedl Available ual Difference (If Kls less Nan IT the difference is ero) ANborm (ROPST13F14A JNT bated +all other vailable ss of a 0711113) Net Lesser of etlI Actual ❑iHerence (d [Wal actu seeds total authorized, ibe t i e aero)ac Net Difference C—) $AUt - $ - $A - $ - $ 000 $ 1,300,000 $ Ter! 140 $ 71971.140 $ 7971,1NJ $ 5,544,342 .$ 2,426,)90 $ 250,000 $ 250,000 $ L5i1,000 ' 118,0'2 8 _ 8 $ 1x6,0][ $ 2 62.x70 1 1 Debt Sery P11111 al - - -- 3 Debt5civinierest Cent 5ely Prleolpal rmrAU« Bcaee --rh. 241,00o $ $ z45.000 245,000 5 $ - $ - « BOtn en - H591azz 1 1501,122 $ 11111,111 1 501 +2 5 oebt Sery pir"'al HUD `08 Loans - - - 1 $ - _ $ 6 Debt Sery st IIUD 108 L 11re oans Debt Sery Principal Hs.. R 220.000 22A,000 8 [ %0,000 220,000 $ 8 - B Oebl BS rvolO:aiesl Rev BOntls ]]SJO 37,530 $ 37.530 47,530 $ 5 9 B Bond AamlNCisclesure osts cops - $ - $ 8 - 0 a— riNDledosure Gulls "IAN- - 5,500 "5"0 $ 5,500 - S 5,500 1 c,- -- 1' Bond AdmlmDisc Costs H Bonds ?roc 2,500 $ 2,500 1.900 $ St 800 2 Oyster POlnt 3,000.000 "cjmoaO $ x,0"0,000 3,000,000 $ 8 1:5 Oyster, PdnDtA - -_— _ g _ $ 14 Oyster POlmA Ventures ODA - 18,500 18,500 $ 18,500 56 $ 18,444 8 18.444 15 Harbor District re S - $ - 5 ti HalborDVOq m «t - -- - $ $ B - 17 NaNOr Disbud A reamer[ - 10,000 10.000 $ 10.000 61 $ 11:Ba9 8 t]�49 18 Miller Parking Structure( (1012) - $ $ - 8 10 418 Llntlen Phasing $ 20 41pn0 8 Llntlen Housrg Dev. - $ - $ - $ - Page 5 of 11 EXHIBIT A Recognized Obligation Payment Schedule (ROPS) 14 -15A- Reporl of Prior Pefiod Adjustments Reported for the ROPS 13-14A (July 1, 2013 through December 31, 2013) Penrod Pursuanlio Health and Safety Code (HSC) section 34186 (a) (Repo,[ A,,, In whole tbllas) ROPS 13 -14A Successor Agency (SA) Self. reported Prior Pedod Ad] uetments (PPA): Pursuant to HSC Section 34186 (a), SAs are required to span the diHorences between their actual available funding and their actual expenditures for the ROPS 13 -14A (July Itt -igh December 2.013) period. The amount of Redevelopment Property Tar Trust Fund ( RPTTF) approved for the RCPS 14 -15A (July through December 2014) period will be offset by the SAs self-repoded ROPS 13 -14A prior period adjustment. HSC Section 34186 (a) aso specifies that the prior period adjustments self - reported by SAs are subject to audit by the ounty auditor - controller CAC) and the State Contrallef- A 13 C D E G J K N O Q S Non - RPTTF Expenditures RPTTF Enlbanditures Bond Proceeds rve Balance OfM1er FUntls NonAamin Admin Net SA Non -Atlmin and Atlmin PPA (Am Offset ROPE 14 -1 Requesfetl RPTfFI —j- met Debt Obizigation Authorizetl Actual Authorized Aulhorizecl aetl Available (BOPS 13',cA �] tllt'3) o NM Lasser of qulli11— Arailabk ARUxI DlRere th (f Kisless than L, he difference is ero) acct Available RPTTF (ROP31.�14A -s nfM1e avaPlrabl1;) Net Lesser of Authorimdl equal Difference (lf total actual authorizetlUthe oral difference is ero) Net Difference (M +R) - - - - -- —_ -- -$ - 5 - $ 'a 0,0 $ JWOUU 7 $ 7,971 '0 $ 7,971,14D 5.4,3 $ 2,428,0$ 2_ 5n,n 10 W $ 260,000 $ 2 $ 25,8]0 1 Tmin 6Fa6on Imprvmnls PM1 - y�D '005& 10o,53ft $ 903 5. 15,110 $ 87,228 $ 87,228 22 Treln Siadon - - to.] ',8,769 $ 16,]59 6.613 $ 10.146 $ H1 $ $ $ 24 Tmin -ts,az Imprvmnis Phase2 -- - $ _ $ $ 25 1. Rsolacamm�t Unl-a - - g - $ $ - 26 T.vo Hausing Replenemen' Units - $ $ g 27 6heervretenHay ,"a OPA -- _ _ $ $ 20 Galena OPA $ $ $ 29 CJI D_ H—eg Ac-s - - $ $ $ - 9 Neyhs 6ervs - - $ $ $ - 31 —Iding TageMer- Pen: Natl R.Day - - § - $ - 32 1—in, TOgsiher- Pen: Safe Homs 3 HIP HOUSIngHOme S nn Pro' - - § _ $ g _ 34 Shelter Ne-M- rossmads - $ $ - $ - 36 She ter Network- Ma le Sheet e Samatnan HOUSa _ E - E - 6 - 37 samaritan Houses Safe Harbor -- - $ - 38 Slllke Cgenseling Cente! - - § § - $ - 3o Mgmtofgrms r6lalio� 7 40 Pc_ gLU 84,464 $ H4, 464 Hz,0H7 A 377 5 317 41 MiJ Peninsula Loan I $ 5 Page 6 of 11 EXHIBIT A Recognised Obligation Payment Schedule (ROPS) 14.15A- Report of Prior Period Adjustments Reported for the ROPS 13 -14A (July 1, 2013 through December3l, 2013) Period Pursuant to Health and Safety Code (HSC) section 34186 (a) (Reoo1 Are- -, fn Whole Dollars) ROPS 19 -14A Successor Agency (SA) SO- reported Prior Period Adjustments (PPA: P —antto HSC Section 34186 (x), SAS are required to repoH the differences between thoi —Wal avaiieldb funding and their actual expenditures for the ROPS 13 -14A (JOythroogh December 2013) period. The arnerl Red evelepment Property Tax Trusf Fund (RPTTF) app r—d tar the ROPS 14 -15A (July through December 2014) period will be offset by the SA 's self - reported ROPS 13 -14A pries period adlustment HSC Section 34186 (a) also sp.enl- that the prior perled adjuslmen's self - reported by SAs are subject to audit by the county audilor-contmllar fCAC) and the State Controller. 11 C 0 E F G J K N O q S Non -RPTTF Expenditures RPTTF Expenditures Nei SA Non -Atlmin Bond Proceetls Reserve Salaries Oder Frrd, Non-Atlmia Admia antl Atlmin PPP (Am Offae ti Sa 14.15A Requested RPTTF) Availabre RPTTF Difference m (ROP513 -14A dlsrlbutetl�al oNer Nel Lesser of (IfK 1, —than L, the difference is (p.'s 11 d,sirlbucetl +all other vailable ea pl Net Leaser of uihorizea AAvallahle cetetlz tats) —h. m., the tar d -rence ie Difference ei(M hem# Project Namel Debt Obligation Aulhorizetl Actual AaiNOrizetl Actaal Aelhori-d Av( ual Aut rzetl vailable as of a C>h 113( Authorizetll Available Acloel ere) Apthorizetl .a D]i1i13J Actual ere) +R) S - $ $ - 5 - 3 1.30L;CW $' '3(r,(00 $ Y]1140 $ ],9]1.14D & }3]1,140 5 5. 41 42c,r99 $ 250,060 $ 20.009 $ 260,00 113,928 $ 136,' $ Rirtorarts Loan ........................ $ $ $ 43 rvafar Exis-i Resen9 __ _ 44 sin. Lecel Tax ._ ................_ ._..._..... __......._._ CompllescaiRplg. SsNI ^xs 45 M..,ntenzn ce of NCn - 80,00[1 D6,000 $ 00.009 tN,hl0 5 31190 Hs Pro sties _ _..._._......__. 46 Meinlcnunce of NOn .._ .................. - d0,rM10 Rf;000 $ h0,009 3 ? ,434 5 <2,566 $ 42,563 4> Administration - - - $ 5 11,338 $ os A8 Administratlo ......... - _ 10?ib30 $ 4 a osts Pmaery Disonsincn __.........._..___._.. - 1,95. ),4g9 1,gT,499 - __........ $ 1.957499 21]07 $' t 03J, "792. $ 1.935,]92 Costs 5D Pmoeny Disposlticn 2 ?5,000 2T5,DOD $ "1000 46.196 $ 226,894 $ 22E,E04 s Costa .- _ .............. $ Acxued PERS Peaslai OMl irdle 5? Avsrued Retiree - - - - - 53 Hatlenip9l. ations on "Awa Rev BoL- _._ — - -54 P—Y HUD 108 LoansMm COPS $ 5 Find EUrow A.t ro ca11205Tax Allocation Bonds - 50.000 __ 50.000 $ 50.000 $ 50000 $ rit e_........ 6 LhfIHF antl n Hay pnc F Au51 No te - - $ $ - $ 57 19991larding BOnd $ Proceetls - -- 5a P unfuMed te. from Janulary rhmugh e''/012 ROPS - - 59 Auca Services _ $ Page 7 of 11 EXHIBIT A Recognized Obligation Payment Schedule (ROPS) 14 -15A- Report of Prior Period Adjustments Reported for the BOPS 13-14A (July 1, 20131hrough December 31, 2013) Period Pursuant to Health and Safety Code (HSC) section 34186 (a) T- ft Amounts V. W hole Dollars) ROPS 13- 14A Successor Agency(SA)Self- reported Prior Period Adjustmants(PPA): Pursuantto HSC Section34166(a),SAS are required d resortthe diffemnces between theiractual — ilahlefimd Ing antl their actual expendituresfirthe ROPS 13- 14A(Julythrough December2013)p,,Had The amount of Redevelopment Property Tax Trust Fund (RPTTF) approved for the ROPS 14 -15A (July through December 2014) period will be offset by the SA's -Iff reported ROPS 13-14A prior period adjustment. HSC Sedion 34166 (a) also specifies that the prior period adjustments self- reported by SAS are subject to audit by the eunty a uditor-controller (CAC) and the State Centro lie r. A B C D E F G H I J N e N O P O R 5 Non -RPTTF Expenditures RPTTF Expenditures Bond Proceeds Reserve Balance Other Funds --A-m Admin -s — Admin antl Ad— PPA IAm [ ROPSStJ 15A Requested RPTTF) Nem# Protect Namel Debt Obligation Au-I -d Actual Authorized Actual Authorized Actual Authorized Available RPTTF CROPS ".3 -14A distributed a all other xble asd a 0 ]11;13) Net Lesser of Authoriredl vailable Actual plHemnce Nf Kis less Nano the difference is ero) Authored Available RPTTF IROPS t3 14A dlstrlduted, el other vailable a3 of a 0 7!1/13) rot Authorsizedl Available Actual Difference (11 total actual wed—ed autM1Orizetl. the total difference le ero) Net DNlered. (N +R) $ - $ S 1,300,000 $ 1,300,000 5 1,`11,140 $ 118)111 0 $ !,8]11140 $ 5i544,3A2 $ 2,425,780 2 250,000 5 260.000 E 250.001) $ 113,820 5 X36,072 5 2.562,010 60 L A Hunt wi1M1 C'tyo SSF IagalsFlloment w s - - 210.63P 210.636 8 210,fi30 210635 5 1 5 1 n Agreertien_ WSSF Jolt ofrel debt ol - 27 936 27.938 $ 21,038 2],938 5 5 - 52 Loer Agreem,-- -ent vntM1 Ctyof SSF - nts payable 6.1 31,1102 $ 31602 41,501 $ 1 ,$ 1 63 Loen Agreement C Cityof SSF R ROPS wets ne11 dvrinc_ ROPS II 8,652 8,652 $ 8,652 0,652 5 $ Weds Consultant - - $ $ $ Page 8 of 11 EXHIBIT A Recognized Obligation Payment Schedule 14 -15A - Notes July 1, 2014 through December 31, 2014 Item # Notes /Comments 3, 4. 10 While these bonds are due no later than 9/1/35, and if not paid off until then would in fact end up paying approximately $60m in principal and $40m as shown on the ROPS, the Oversight Board is working to pay the bonds off at their earliest call dale of 9/1116 and a reserve has been built to accomplish this (see Row 55 note below). On 518/12 the OB approved funding an escrow account to fund this obligation, There is $18M approved for this escrow account from prior ROPS with this payment 12 increasing the escrow account to $21 M. The Total Outstanding Obligation column must be populated with a dollar amount. Estimating certain obligations, such as total remaining administrative costs is 47,48 challenging at this point. 51, 52 Certification of unfunded retirement and retiree health costs and adoption of payment plan per Oversight Board Resolution No. 19 -2013 On 05/08/2012 the Oversight Board approved funding an escrow account to call these bonds at the first redemption date of 9/1 /16. There Is currently approximately 55 $62.7 million in the escrow account. Due to expected interest earnings and the amount of the bond reserve to be applied on 811!16, no further contributions are anticipated. Final bond payoff on 9/1/16 is anticipated to be $58.175,509.38. The 12/1812 DOF BOPS III determination letter says In part, "upon receiving a Finding of Completion from Finance, these iterns will become enforceable pursuant to 57 HSC 34191 4 (c)_)" SSF received the Finding of Completion from DOF on 5124113. Page 9 of 11 NO SUccessor Agency Administrative Budget ROPS 1.4-15A July - December 2014 Professional & Specialized Services FTE Staff Consultant (Armando Sanchez) $25,000.00 Legal Consultants (Meyers Nave & Craig Labadie $30,000.00 SUbtMal 55 Meeting expenses, office supplies, Assistant City Manager postage, copies, printing services, special $ 13,364.60 ,Supplies and Services noticing, various contractors, misc. $10,000.00 $ 14,419.03 $ 5,145.39 ECD Coordinator Management Analyst Position Title FTE Employee Costs FY13-14 (Semi- Annual) Director of Finance 4% $ 11,740.09 Adminstrative Assistant 111 5% $ 8,104.42 Assistant City Manager 4% $ 13,364.60 City Manager Sr Accountant 4% 3% $ 14,419.03 $ 5,145.39 ECD Coordinator Management Analyst 3% 5% $ 5,860.12 $ 7,799.81 RDA Manager 4% $ 8,870.33 Accounting Assistant 11 4% $ 4,428.78 Sr Financial Analyst 5% $ 8,618.53 Miscellaneous staff City Clerk 3% 5% $ 6,652.74 $ 11,864.21 Sbtotal 441 1k -1" P6 8 AO 8 0 4 6111A/'Y/1'1;1�7 GRAND TOTAL $1 Notes: 1 Staff costs include payroll, benefits, and retirement costs 2 Payment source for six month period is from the Administrative Allowance 3 Maximum administrative costs are based on 3% the total estimated net new funding needs on the ROP'S X:\ECD\ROPS Backup folder\ROPS 13-14B\Admin Positions FY14-15A-OSB P11 SUPPORT FOR ESTIMATED OTHER REVENUES APPEARING ON THE JUL THROUGH (includes a True Up component for Other Revenues estimated on ROPS IV also called ROPS 13 -14A) Estimated Other Revenue Item Source of Revenue Sue Month Total 1 Rents $ 272,100.00 2) Interest on Investments 1,000.00 3) Interest from Business Loans $ - 4) Principal from (Business Loans $ _ Estimated Repayment from Oyster Point Impact Fee 5 Interfund Loan Difference between prior period estimated Other Revenue of $1,300,000.00 and Actual Revenue of 6) $1,517,693.99 for the Period July -Dec 2013 (ROPS IV) 202,353.95 Totals $ 475,453.95 Rounded Total Used on ROPS $ 475,500.00