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HomeMy WebLinkAbout02.B- Successor Agency RESOLUTION (ID #3506) DOC ID: 3506 A CITY OF SAN BERNARDINO—REQUEST FOR COUNCIL ACTION Budget From: Allen Parker M/CC Meeting Date: 09/29/2014 Prepared by: Lisa Connor, (909) 663-1044 Dept: Successor Agency Ward(s): All Subject: Resolution of the Mayor and Common Council of the City of San Bernardino Acting as the Successor Agency to the San Bernardino Redevelopment Agency Approving the Recognized Obligation Payment Schedule 14-15A for the Period of January through June 2014 and Approving Certain Related Actions (#3506) Current Business Registration Certificate: Not Applicable Financial Impact: The ROPS is the basis for the Successor Agency's authority to make payments due for EOs. Adopting the attached resolution will authorize the City Manager as Executive Director of the Successor Agency to: i) implement ROPS 14-15A on behalf of the Successor Agency; ii) implement the Successor Agency's plan for use of RPTTF and non-RPTTF for ROPS 14-15A; and iii)take such necessary actions and execute such documents as are necessary to effectuate the intent of this Resolution, inclusive of authorizing ministerial revisions to the Successor Agency's plan for use of RPTTF and non-RPTTF for ROPS 14-15A. Motion: Waive full reading and adopt Resolution Synopsis of Previous Council Action: None. Background: Pursuant to Health and Safety Code ("HSC") § 34172 (a)(1), the Redevelopment Agency of the City of San Bernardino was dissolved on February 1, 2012. Consistent with the provisions of the HSC, the Mayor and Common Council (M/CC)previously elected to serve in the capacity of the Successor Agency to the Redevelopment Agency of the City of San Bernardino (the "Successor Agency"). Per HSC § 34177 (1)(1), the Successor Agency is required to prepare a Recognized Obligation Payment Schedule ("ROPS") before each six-month fiscal period, which corresponds to equal halves of a fiscal year(i.e., July through December and January through June). A ROPS is the basis for the Successor Agency's authority to make payments due for enforceable obligations ("EOs"). Each ROPS must also be approved by the Oversight Board ("OS Board") to the Successor Agency and is reviewable by the County Auditor-Controller, the County Administrative Officer, the California Department of Finance ("DOF") and the California State Controller's Office. On March 12, 2014, the OS Board adopted Resolution SBOB/2014-05, approving ROPS 14- 15A. ROPS 14-15A, which is appended to the attached Resolution as Exhibit "A"; included Updated:9/25/2014 by Georgeann"Gigi"Hanna A 3506 $28,221,443-worth of EOs, of which $821,984 represented the administrative allowance, and $2,309,001 of non-RPTTF. Over an eight(8)week period following the filing of ROPS 14-15A, Successor Agency representatives responded to DOF staff inquiries, provided them with supporting and amending information (some of which was developed by third parties, e.g., US Bank, the Successor Agency's bond trustee), participated in several conference call meetings, attended a meet and confer meeting with DOF staff in Sacramento. On May 16, 2014, the DOF issued their final determination letter, which is appended to this Resolution as Exhibit"B". Pursuant to their May 16, 2014 letter, DOF: i) denied seven (7) EOs worth$11,282,792 (i.e., EO Nos. 82, 85, 87, 95, 102, 113 and 114), ii) denied $344,523 of the requested administrative allowance; iii) modified or reclassified a portion of seven EOs (i.e., EO Nos. 7, 10, 12, 13, 99, 100 and 105) in the amount of$201,294; iv) retroactively denied $5,858,914-worth of RPTTF of which the Successor Agency actually spent $5,815,258 during prior ROPS periods as a "Prior Period Adjustment"; and v) authorized the distribution of $10,533,920 of RPTTF to the Successor Agency, of which $477,461 represents the administrative allowance. On May 29, 2014, the County Auditor-Controller forwarded the Successor Agency a check in the amount of $10,533,920,which is the RPTTF authorized by DOF for ROPS 14-15A. In addition to available RPTTF, the Successor Agency is also able to apply $5,068,569 of other funding, which consists of. i) funds for debt service that are either from contributions from third parties or from Federal Direct Payments; and ii) fund balance and scheduled rent receipts from active use properties that are to be used for property maintenance purposes. Therefore, the sum of RPTTF and other funds available for use during ROPS 14-15A equals $15,602,489, which is $11,618,954 less than the Successor Agency requires to meet its enforceable obligations during ROPS 14-15A. Due to the shortfall in RPTTF, by necessity the Successor Agency must allocate the use of its available funds in a responsible way consistent with HSC § 34183 (a)(2), ensuring that current debt service obligations are the highest priority for payment. Consistent with the foregoing, staff has prepared a plan for the Successor Agency's use of RPTTF and non-RPTTF for ROPS 14- 15A, as depicted in Exhibit"C"to the attached Resolution. Environmental Review The attached Resolution has been reviewed with respect to applicability of the California Environmental Quality Act ("CEQA"), the State CEQA Guidelines (California Code of Regulations, Title 14, §§ 15000 et seq.,hereafter the "Guidelines"), and the City's environmental guidelines. The Resolution is not a "project" for purposes of CEQA, as that term is defined by Guidelines § 15378, because this Resolution is an organizational or administrative activity that will not result in a direct or indirect physical change in the environment, per § 15378(b)(5) of the Guidelines. Fiscal Impact The ROPS is the basis for the Successor Agency's authority to make payments due for EOs. Adopting the attached resolution will authorize the City Manager as Executive Director of the Successor Agency to: i) implement ROPS 14-15A on behalf of the Successor Agency; ii) Updated:9/25/2014 by Georgeann"Gig?Hanna A �" 3506 implement the Successor Agency's plan for use of RPTTF and non-RPTTF for ROPS 14-15A; and iii)take such necessary actions and execute such documents as are necessary to effectuate the intent of this Resolution, inclusive of authorizing ministerial revisions to the Successor Agency's plan for use of RPTTF and non-RPTTF for ROPS 14-15A. City Attorney Review: Supporting Documents: Resolution ROPS 14-15A Expenditure Plan (DOC) Ex A-Rops 14-15A (PDF) Ex B- 5-16-14 San_Bernardino_ROPS—14-15A—MC—Determination (PDF) Ex C-Expenditure Plan for RPTTF/Non-RPTTF (PDF) I i Updated:9/25/2014 by Georgeann"Gigi"Hanna A � 1 RESOLUTION NO. 2 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO ACTING AS THE SUCCESSOR AGENCY 3 TO THE SAN BERNARDINO REDEVELOPMENT AGENCY APPROVING 4 THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE 14-15A FOR THE PERIOD OF JULY THROUGH DECEMBER 2014 AND APPROVING 5 CERTAIN RELATED ACTIONS (#3506) a 6 WHEREAS, pursuant to Health and Safety Code ("HSC") § 34172 (a)(1), the Cn a. 7 Redevelopment Agency of the City of San Bernardino was dissolved on February 1, 2012; and 0 0 8 WHEREAS, consistent with the provisions of the HSC, the Mayor and Common Council ,O _ 9 of the City of San Bernardino previously elected to serve in the capacity of the Successor Agency to a d L 10 the Redevelopment Agency of the City of San Bernardino (the "Successor Agency"); and r 11 WHEREAS, the Oversight Board for the Successor Agency ("Oversight Board") has been �. X w 12 established pursuant to HSC § 34179 to assist in the wind-down of the dissolved redevelopment CD 0 LO 13 agency; and ' 14 WHEREAS, per HSC § 34177 (1)(1), the Successor Agency is required to prepare a a d 15 Recognized Obligation Payment Schedule ("ROPS") before each six-month fiscal period, which r a 16 corresponds to equal halves of a fiscal year(i.e., July through December and January through June); Q X w 17 and a Ln 18 WHEREAS, a ROPS is the basis for the Successor Agency's authority to make payments r Cn 19 due for enforceable obligations ("EOs"); and a 0 20 WHEREAS, each ROPS must also be approved by the Oversight Board and is reviewable o w 3 21 by the County Auditor-Controller, the County Administrative Officer, the California Department of N 22 Finance("DOF") and the California State Controller's Office; and 23 WHEREAS, on March 12, 2014, the Oversight Board adopted Resolution SBOB/2014-05, E U 24 approving ROPS 14-15A; and Q 25 WHEREAS, the ROPS 14-15A, which is appended to this Resolution as Exhibit "A"; 26 included $28,221,443-worth of EOs, of which $821,984 represented the administrative allowance, 27 and$2,309,001 of non-RPTTF; and 28 1 Packet Pg.9 2.B.a 1 WHEREAS, over an eight (8) week period following the filing of ROPS 14-15A, 2 Successor Agency representatives responded to DOF staff inquiries, provided them with supporting 3 and amending information (some of which was developed by third parties, e.g., US Bank, the 4 Successor Agency's bond trustee), participated in several conference call meetings, attended a meet 5 and confer meeting with DOF staff in Sacramento; and Q LO T_ 6 WHEREAS, on May 16, 2014, the DOF issued their final determination letter, which is Cn 7 appended to this Resolution as Exhibit"B"; and o 8 WHEREAS, the DOF's May 16, 2014 letter: i) denied seven (7) EOs worth $11,282,792 ,o c 9 (i.e., EO Nos. 82, 85, 87, 95, 102, 113 and 114), ii) denied $344,523 of the requested administrative a d L 10 allowance; iii) modified or reclassified a portion of seven (7) EOs (i.e., EO Nos. 7, 10, 12, 13, 99, r 11 100 and 105) in the amount of$201,294; iv) retroactively denied $5,858,914-worth of RPTTF of Q X 12 which the Successor Agency actually spent $5,815,258 during prior ROPS periods as a "Prior w 0 0 13 Period Adjustment"; and v) authorized the distribution of$10,533,920 of RPTTF to the Successor n c 14 Agency, of which$477,461 represents the administrative allowance; and a 15 WHEREAS, on May 29, 2014, the County Auditor-Controller forwarded the Successor r 16 Agency a check in the amount of$10,533,920, which is the RPTTF authorized by DOF for ROPS Q X 17 14-15A; and w a 18 WHEREAS, in addition to available RPTTF, the Successor Agency is also able to apply Cn 19 $5,068,569 of other funding, which consists o£ i) funds for debt service that are either from a O 20 contributions from third parties or from Federal Direct Payments; and ii) fund balance and scheduled rent o n 21 receipts from active use properties that are to be used for property maintenance purposes; and c a� 22 WHEREAS, therefore,the sum of RPTTF and other funds available for use during ROPS 14-15A c 23 equals $15,602,489, which is $11,618,954 less than the Successor Agency requires to meet its E 24 enforceable obligations during ROPS 14-15A; and a 25 WHEREAS, due to the shortfall in RPTTF, by necessity the Successor Agency must 26 allocate the use of its available funds in a responsible way consistent with HSC § 34183 (a)(2), 27 ensuring that current debt service obligations are the highest priority for payment; and T 28 2 Packet Pg. 10 2.B.a 1 WHEREAS, consistent with the immediately foregoing recital, staff has prepared a plan 2 for the Successor Agency's use of RPTTF and non-RPTTF for ROPS 14-15A, as depicted in 3 Exhibit"C"to this Resolution; and 4 WHEREAS, this Resolution has been reviewed with respect to applicability of the 5 California Environmental Quality Act ("CEQA"), the State CEQA Guidelines (California Code of Q Ln 6 Regulations, Title 14, §§ 15000 et seq., hereafter the "Guidelines"), and the City's environmental En 0. 7 guidelines; and 0 O 8 WHEREAS, this Resolution is not a "project" for purposes of CEQA, as that term is ,o 9 defined by Guidelines § 15378, because this Resolution is an organizational or administrative a L 10 activity that will not result in a direct or indirect physical change in the environment, per § r =a 11 15378(b)(5) of the Guidelines; and CL X w 12 WHEREAS, all of the prerequisites with respect to the approval of this Resolution have 13 been met. M 14 NOW, THEREFORE, by be it resolved by the Successor Agency to the Redevelopment a 15 Agency of the City of San Bernardino, as follows: r a 16 Section 1. The foregoing recitals are true and correct and are a substantive part of this a X 17 Resolution. W a 18 Section 2. The Successor Agency's ROPS 14-15A for the period of July through r Cn 19 December 2014, which is attached hereto as Exhibit"A", is approved. a O W 20 Section 3. The Successor Agency's plan for use of RPTTF and non-RPTTF for ROPS o .2 21 14-15A,which is attached hereto as Exhibit"C", is approved. 0 22 Section 4. The City Manager, as Executive Director of the Successor Agency, or 23 designee, is hereby authorized and directed to: i) implement ROPS 14-15A on behalf of the E 24 Successor Agency; ii) implement the Successor Agency's plan for use of RPTTF and non-RPTTF Y 25 for ROPS 14-15A; and iii) take such necessary actions and execute such documents as are necessary 26 to effectuate the intent of this Resolution, inclusive of authorizing ministerial revisions to the 27 Successor Agency's plan for use of RPTTF and non-RPTTF for ROPS 14-15A. 28 3 Packet Pg. 17 I Section 5. This Resolution is not a "project" for purposes of CEQA, as that term is 2 defined by Guidelines § 15378, because this Resolution is an organizational or administrative 3 activity that will not result in a direct or indirect physical change in the environment, per § 4 15378(b)(5) of the Guidelines. 5 Section 6. This Resolution shall take effect upon its adoption and execution in the Q Ln t 6 manner as required by the City Charter. 4 0) 0. 7 /// 0 0 8 /// ,0 _ 9 a a� 10 v c 11 Q. X w 12 0 Ln 13 14 /// a`. as 15 �a 16 X /// w 17 a LO T 18 Cn 19 /// a. 0 20 /// _ 0 r 21 /// o N d 22 Y _ 23 24 w 25 26 27 28 4 Packet Pg. 12 1 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO ACTING AS THE SUCCESSOR AGENCY TO THE 2 SAN BERNARDINO REDEVELOPMENT AGENCY APPROVING THE 3 RECOGNIZED OBLIGATION PAYMENT SCHEDULE 14-15A FOR THE PERIOD OF JULY THROUGH DECEMBER 2014 AND APPROVING 4 CERTAIN RELATED ACTIONS (#3506) 5 I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Mayor and Common Q LO 6 Council acting as the Successor Agency to the San Bernardino Redevelopment Agency, at a r co 7 special meeting thereof, held on the day of , 2014, by the following o 8 vote, to wit: 9 a Council Members Ayes Nays Abstain Absent L 10 r MARQUEZ 11 °' BARRIOS x Uj 12 VALDIVIA c LO 13 SHORETT _ 14 NICKEL a. 15 JOHNSON .� 16 MULVIHILL a x 17 w a U) T 18 Georgeann Hanna, City Clerk r. Cn 19 a The foregoing Resolution is hereby approved this day of , 2014. 0 20 0 r 21 'o a� 22 R. Carey Davis, Chairman 23 Successor Agency to the E Redevelopment Agency of the 24 City of San Bernardino a Approved as to Form: 25 City Attorney 26 27 By: Gary D. Saenz, General Counsel 28 5 Packet Pg. 13 1 EXHIBIT "A" 2 3 SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO 4 RECOGNIZED OBLIGATION PAYMENT SCHEDULE 14-15A (July through December 2014) 5 a (See Attachment) r 6 Cn 7 0 0 8 L _ 9 a as L 10 w_ _ 11 Q, x w 12 0 In 13 c 14 a as L 15 .2 _ 16 a x w 17 a Ln 18 v T N 19 0 a: 20 0 r z 21 0 (D 22 m 23 s U 24 Q 25 26 r 27 28 Packet Pg. 14 1 EXHIBIT `B" 2 3 MAY 16, 2014 LETTER FROM THE 4 CALIFORNIA DEPARTMENT OF FINANCE 5 (See Attachment) ¢ 6 v 7 a. O Q_ 8 L 9 a a� L 10 3_ Y 11 Q x W 12 to C) Lo 13 c 14 Q 15 w 16 a� Q x 17 a Lo 18 v 19 a 20 0 w _3 21 O N O 22 C d 23 L U 24 25 26 27 28 7 Packet Pg. 15 1 EXHIBIT "C" 2 3 THE SUCCESSOR AGENCY'S PLAN FOR USE OF RPTTF AND NON-RPTTF 4 FOR ROPS 14-15A (JULY THROUGH DECEMBER 2014) 5 Q (See Attachment) r 6 7 0 O o_ 8 0 c 9 t° a m L 10 11 Q. K W 12 13 14 a d 15 16 c. x 17 a in 18 19 a O o: 20 c w 21 0 N 41 22 r C d 23 s 24 r a 25 26 27 28 g Packet Pg. 16 i (V9 SdOM ao}ueld aan4 puedx3 905£) `d56-t, sdoti-y x3 :;uewgoe;;d ti m ci a .r d 1 RESOLUTION NO. SBOB/2014-02 2 3 RESOLUTION OF THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO APPROVING 4 THE ESTABLISHMENT OF THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE 14-15A FOR THE PERIOD OF JULY THROUGH DECEMBER 2014 5 6 7 WHEREAS, the Redevelopment Agency of the City of San Bernardino was dissolved February 1,2012;and 8 WHEREAS, the Oversight Board for the Successor Agency to the Redevelopment Agency 9 of the City of San Bernardino ("Oversight Board") has been established pursuant to Health and 10 Safety Code ("HSC") § 34179 to assist in the wind-down of the dissolved redevelopment agency; and 11 WHEREAS, Per Health and Safety Code § 34177 (1)(1), the Successor Agency to the Redevelopment Agency of the City of San Bernardino ("Successor Agency") is required to prepare 12 a ROPS before each six-month fiscal period,which corresponds to equal halves of a fiscal year (i.e., 13 July through December and July through December); and 14 WHEREAS, The ROPS is the basis for the Successor Agency's authority to make payments due for enforceable obligations; and 15 WHEREAS, the ROPS 14-15A, which consists of several spreadsheets, is appended to this 16 Resolution as Exhibit"A"; and 17 WHEREAS, pursuant to Health and Safety Code § 34177 (m), an Oversight Board- 18 approved ROPS 14-15A must be submitted to the County Auditor-Controller, County Administrative Officer, the State Controller and the State Department of Finance not later than 19 March 3, 2014; and 20 WHEREAS, pursuant to Health and Safety Code Section 34177, the Successor Agency is 21 legally required to continue to make payments due for enforceable obligations; and 22 WHEREAS, the Oversight Board's approval of the establishment of ROPS 14-15A will ensure that the Successor Agency has the authority to continue to pay its enforceable obligations; 23 and WHEREAS, all of the prerequisites with respect to the approval of this Resolution have 24 been met. 25 NOW, THEREFORE, BE IT RESOLVED by the Oversight Board for the Successor 26 Agency to the Redevelopment Agency of the City of San Bernardino, as follows: (400 27 Section 1. The foregoing recitals are true and correct and are a substantive part of this Resolution. 28 1 P:1AgendaslOversight Board\ResolutionsMOB 2014-02 ROPS 14-15A.doc (Vg -V4 SdOU a01 ue1d amtipuedx3 : 905E) V5;L-VL sdoa-d x3 :ju9wt4oejjV m �i a m 1 Section 2. The establishment of the Successor Agency's ROPS 14-15A for the period of July a through December 2014, which is attached hereto as Exhibit'W', is approved. a 2 3 Section 3. The City Manager, or designee, is authorized to: i) post ROPS 14-15A on the City's website, ii) transmit BOPS 14-15A to the County Auditor-Controller, the County 4 Administrative Officer, the State Controller and the State Department of Finance for their review within the timeframe and in the manner prescribed by the Health and 5 Safety Code; and iii) make ministerial revisions to ROPS 14-15A, which may include, but are not limited to restating the information included within ROPS 14- 6 15A in any format that may be requested by the State Department of Finance, take 7 such other actions and execute such other documents as are necessary to effectuate the intent of this Resolution, and to implement ROPS 14-15A on behalf of the g Successor Agency, including authorizing and causing such payments. 9 Section 4. This Resolution shall take effect upon the date of its adoption 10 11 12 13 14 15 /Il 16 Itl 17 18 19 20 21 22 23 24 25 tlI 26 /tl 27 28 2 PAAgendasl0rersight BoarMesolutionslSBOB 2014-02 ROPS 14-15A dm (VSL-V6 SdON ao}ueld am;ipuedx3 : 90S£) VS;L 4 sdo�-y x3 :;uauayoe;;y m N i 1 RESOLUTION OF THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO APPROVING 2 THE ESTABLISHMENT OF THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE 3 14-15A FOR THE PERIOD OF JULY THROUGH DECEMBER 2014 4 5 PASSED, APPROVED AND ADOPTED THIS 28th day of February, 2014, by 6 the following vote: 7 Board Members Ayes Nays Abstain Absent 8 HEADRICK X 9 HILL X 10 LONGVILLE X 11 MACIAS-HARRISON X 12 MORRIS X 13 O'TOOLE X SMITH X 14 15 16 ' s Mary 17 The foregoing Resolution is hereby approved this 28th day of February, 2014. 19 James P. Morri , Chairman 20 Oversight Board for the City of San Bernardino As Successor Agency to the Redevelopment 21 Agency of the City of San Bernardino 22 23 24 25 26 27 28 3 PAAgendas\Oversight Board\Resotutions\SBOB 2014.02 ROPS 14-15A.doc (VGVV4 SdOU ao} Md ajn;ipuedx3 : 9050 VqS -tq sdoa-y x3 :;uauayaB);y �i m N< 1 EXHIBIT"A" 2 3 SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY 4 OF THE CITY OF SAN BERNARDINO RECONGNIZED OBLIGATION PAYMENT SCHEDULE 14-15A 5 (July through December 2014) 6 (See Attachment) 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 4 P:\AgendaAoversighiBoard\Rmlutions\SBOB2014-02ROPS 14-15A.do C G�-GSdONJq umd e npued,] : 9090 VSL-� sdoN-x ]uemqOe}V IL k � IL z f}§ \ z ; r § - ( o m m o : § ,: 2 i & 7 2 , / 2 0 n n , ® 7 » § , z } 0 2 = _[\_ \ \ } § ) \ \ ) } \ \ } ) \ } - } k \ \ w ( C)0 tr \ }oa° _ J z \}\\ \ \ ) \ \ | E } { % § § z[ § } } } § \ / / [ ] ) { } § ) { \ / / \ \ \ \ � n ~ k \ ) ` % - - \ / k G \ - CL } j / ) j \ ƒ _ \ \o (} _ ( { + ) - \} a} S S '• § 3 2 0 \ \ \ \ \ \ - \ \ \ r \ 3 0 / 3 7 \ 7 \\ 0/ { _ { \ } \CO } $ § \ { ] \0 /J q \> } \ § - a ` � 2 Q ( F, : (VS�-tip SdON ao}ueld aan;ipuadx3 9090 VSL-t, sdoll-y x3 :;uawgoe;}y N m 3 D tm cv a R Y - H n m 3 n Q o w v m m z U o Z - O ® I n o c < v m a 0 3 ° ° °o °o E z O n m_v c 3 - D D 3 c m m o o p o o,0 o o,p O n i c A 4 0mm m m m m m m m m m m p - - 5 _ o,o,o � d t�8�%n�3w° onm3$3- -3 o n m n n n n n o o m o o m n a W m ? n a o 0 a w m a o 0 0 - m a° m°d O o 0 0 0 0 o 0 o 0 0 0 0 0 0 " _ _ z z R 2 _ _ 8 =n ❑ o^ 33 =D m a3 n C C MM $ ° o n n x s c m°m 3°c m m m m m m m m m m '3 O - o o m m 99 � n o a m�D 2' 2n. og8_n z"z'z 2'° _D s 3 'n 3 8 3 A v v e ° $.�5 3 2 2 c _ 3 A v z z z - 3 ? 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CA n, a IDDDDm m m m m 3 O CD w N w w » (O� t u N N N Oa Q 01 CL 0 3 m A N N fp!0 CL d C pan Qao,acp ``-avQCO m Kit K`G :' n A'3n3 m b cn m m m m t m Z 3 5 3 " ! n m o N m m m m n 7 7 m cn n a ID 0 m v o o o o I m �ommm to 3 v-av n DDD M o N 7 I m L f i f t NT a� u� Z � IIII a o �► DEPARTMENT OF EDMuND G, BROWN JR. - GOVERNOR 'P'Fl N A N 0 91 5 L STREET■ SACRAMENTO CA ■ 9 5 9 1 4-3706 ■ WWW.00F.CA.GOV a T- May 16, 2014 Cn a O Mr. Allen Parker, City Manager 0 c City of San Bernardino 300 North D Street, 6th Floor a as San Bernardino, CA 94218 y Dear Mr. Parker: CL X w Subject: Recognized Obligation Payment Schedule 0 LO This letter supersedes the California Department of Finance's (Finance) Recognized Obligation Payment Schedule (ROPS) letter dated April 17, 2014. Pursuant to Health and Safety Code o (HSC) section 34177 (m), the City of San Bernardino Successor Agency(Agency) submitted a 2 Recognized Obligation Payment Schedule (ROPS 14-15A)to Finance on March 12, 2014, for = the period of July through December 2014. Finance issued a ROPS determination letter on E April 17, 2014. Subsequently, the Agency requested a Meet and Confer session on one or more of the items denied by Finance. The Meet and Confer session was held on May 7, 2014. of U Based on a review of additional information and documentation provided to Finance during the Qi Meet and Confer process, Finance has completed its review of the specific items being LO disputed. i • Item No. 7—2002 Tax Allocation Bonds debt service payment in the amount of a $631,688. Finance approves this item for $593,888. The Agency requested $631,688 W for interest due April 1, 2014. Our initial review indicated this amount was already o� requested during the January through June 2014 (ROPS 13-14B) period. However, according to the debt service schedule, $593,888 is due on October 1, 2014. During the Meet and Confer, the Agency confirmed that this item should be $593,888. Therefore, the requested Redevelopment Property Tax Trust Fund (RPTTF)funding has been m� adjusted by $37,800 ($631,888—$593,888). CU v • Item No. 10— 2010A Recovery Zone debt service payment in the amount of$258,875. Finance approves this item for$150,768 from the RPTTF and $108,107 from Other Funds. The Agency receives a "Federal Direct Payment" subsidy as other revenue pledged for debt service. Finance requested Trustee Bank statements for the Reserve °,° Fund account to support the amounts claimed. However, Finance initially denied this w item as the Agency was unable to provide documentation to support the amounts C claimed. During the Meet and Confer process, the Agency provided the methodology E used to estimate the subsidy to be received for the October 2014 payment. Based on the calculation, $108,107 should be available towards the payment. Therefore, this item a is eligible for$150,768 from the RPTTF and $108,107 from Other Funds. I Packet Pg. 32 Mr. Allen Parker 2.B.c May 16, 2014 Page 2 • Item Nos. 12, 13, 99 and 100 — 1995H Highland Lutheran SR Housing and 1995R Casa Ramona SR Housing bonds debt service payments totaling $174 812. Finance approves $40,486 from RPTTF and $1,452 from Other Funds for Item No. 12, $7,024 from RPTTF and $31,170 from Other Funds for Item No. 13, $58,307 from RPTTF for a Item No. 99, and $15,691 for Item No. 100. r v Finance initially denied Item Nos. 12 and 13 because it was our understanding other cn revenue is received monthly from third parties to cover the payments. During the Meet p and Confer process, the Agency provided the methodologies used to estimate the L revenues that would be applied to the payments. Although the Agency continues to provide only a summary of account activity and still has not provided copies of the bond fiscal statements to support the current balances, Finance will accept the Agency's n. methodologies for estimating revenues for the ROPS 14-15A period. Therefore, Item No. 12 is approved for $40,486 from RPTTF and $1,452 is reclassified to Other Funds and Item No. 13 is approved for $7,024 from RPTTF and $31,170 is reclassified to Other Funds. a X w Finance initially denied the amounts requested for Item Nos. 99 and 100 because the o Agency was unable to provide documentation to support the amount that was held in the M Revenue Fund and Trustee invoices supporting the credit of$2,902 and $59,953 applied towards the items. During the Meet and Confer process for the ROPS 13-14B period, the Agency contended that other revenues received are required to fund other obligations related to the projects and are not available to fund debt service payments. E However, pursuant to the Bond Indenture, Section 5.02, on the 15th of each month, a portion of gross revenues deposited in the Revenue Fund, in order of priority, should be o applied towards annual trustees fees, then applied to fund the taxes, assessments, and L� insurance for the projects, then applied to fund interest and principal due on the next succeeding due date. During the Meet and Confer process for ROPS 14-15A, the Agency provided the invoices for the payments of these items for the ROPS 13-14B period. Based on the invoices provided, the Agency's share of the payments is Ti $100,355 and $15,691, respectively. During the ROPS 13-14B review, Finance approved and the Agency received $42,048 and $0, respectively, from the RPTTF. 0 Therefore, Finance approves $58,307 and $15,691, respectively, from the RPTTF on of ROPS 14-15A to cover the shortage in funds needed. S L • Item No. 38— Long Term Property Maintenance costs in the amount of$11,500,000. F Finance no longer denies this item. Finance initially denied this item because the mi Agency was unable to provide documentation to support the amounts claimed. During CU the Meet and Confer process, the Agency provided a budget detailing the categories of cn costs to be incurred by the various types of Agency-owned properties. Therefore, r Finance is approving this item for RPTTF funding; however, to the extent any revenues generated on the properties are available for the estimated costs, those funds should be used prior to using RPTTF. The Agency can obtain approval from the Oversight Board m to change the funding source for this item pursuant to HSC section 34177 (a) (4) if Other w Funds do become available. c a� When reporting the actual expenditures incurred on the ROPS 15-16A form, the Agency should be able to identify how the costs incurred are associated with Agency-owned properties, as well as supporting documents showing that the properties are currently Q owned by the Agency. Without these supporting documents, any costs incurred may be Packet Pg. 33 Mr. Allen Parker May 16, 2014 Page 3 disallowed and added to the prior period adjustment as funds available for expenditure on a future ROPS. Finance notes this item contains more than one contract and more than one payee. On Q future ROPS, the Agency should list each contract as a separate obligation with its own r item number and list them in sequential order. Pursuant to HSC section 34177 (m) (1), the Agency is required to complete the ROPS in a manner provided by Finance. W a- 0 • Item No. 82— Debt Service Reserve Fund (DSRF) Replenishment in the amount of $4,849,838. The Agency requests funds needed to replenish the DSRF to the required 0 balances for Item Nos. 3, 4, 6 through 11, and 28. Finance continues to reclassify the funding source of this item to "Other Funds" as stated in the ROPS 13-14B Meet and a Confer determination letter dated December 17, 2013. w During the July through December 2013 period (ROPS 13-14A) Finance approved CD $6,408,144 in RPTTF funding for this item. Finance authorized $17,569,239 in RPTTF x funds for ROPS 13-14A enforceable obligations, and applied a ROPS II Prior Period "! Adjustment(PPA) in the amount of$5,876,914, resulting in $11,692,325 in RPTTF funds o approved for distribution, which was fully distributed by the San Bernardino County M Auditor Controller. The Agency also received $510,467 in RPTTF funds for administrative costs. Consequently, sufficient RPTTF funding was available for the 2 Agency to replenish the required reserves for the ROPS 13-14A period, including the funding that is available from the PPA of$5,876,914. E L Q� F+ Through an email dated April 4, 2014, the Agency contends that the ROPS I I PPA was of spent on other obligations; therefore, it is impossible to fund the DSRF with a funds that do not exist because the Agency has cash-flow problems. i The items on which the funds were spent were not approved by Finance; therefore, the funds should be available for expenditure. HSC section 34177 (a)(3) states that only those payments listed on the approved ROPS may be made from the funding source specified in the ROPS. Also, HSC section 34183 (a) (2) explicitly requires debt service 0 payments to be made first, followed by revenue bonds (to the extent revenues are i insufficient to cover the payments due), and all other obligations, if sufficient RPTTF funding remains. Additionally, HSC section 34171 (d)(1) (A) permits reserves to be held only when required by the bond indenture, or when the next property tax allocation will F be insufficient to pay the next bond payment due in the following half of the fiscal year. m Therefore, to the extent the Agency has not been funding approved enforceable c' obligations in this order; the Agency is in direct violation of the law. As such, the Agency in should reverse those non-debt service transactions that were either not approved by r Finance or subordinated to the Agency's debt service payments. Once corrected, the Agency should return the funding to each DSRF. m During the Meet and Confer process, the Agency continued to object to Finance's w determination; however, no additional information or documents were provided. Therefore, this item is not eligible for RPTTF funding; the funding source is being reclassified to "Other Funds U t4 • Item No. 85— Unfunded Prior-Year Pass-Through Payment Obligations in the amount of Q $2,644,578. Finance continues to deny additional funding for this item. The Agency requested funding for unfunded prior year pass-through payment obligations payable to Packet Pg. 34 Mr. Allen Parker 2 B c r May 16, 2014 Page 4 the San Bernardino Municipal Water District (SBVMWD). For ROPS 13-14B, Finance approved $12,164,545 in enforceable obligations to be funded from the RPTTF and the San Bernardino County Auditor-Controller distributed $11,202,042 from the RPTTF with $962,503 in a prior period adjustment; therefore, the Agency received all funds approved on ROPS 13-14B. Furthermore, Finance approved $2,644,578 in RPTTF funding for LO this item in ROPS 13-14B; therefore, funds should be available to make the payment. The Agency contends that the item was unfunded because the funds allocated for the a obligation were used to pay for the principal reduction portion of the 1998A, 19986, and W 2006 TABs that was inadvertently not requested on the ROPS 13-14B submitted to .° Finance. The funds were also used to pay for the debt service shortfall for the 1995H and 1995R Bonds. The Agency's unfunded amounts for these bonds have been included on ROPS 14-15A under Item Nos. 97 through 101. Finance has approved the B shortfall for debt service for Item Nos. 97 through 101; therefore, the Agency cannot also request to fund the unfunded pass-through payments. Therefore, this item is not eligible c for additional RPTTF funding. x W • Item No. 87 --Carousel Mall Past Due Property Tax in the amount of$869,691. Finance continues to deny this item. The amount consists of past due property taxes for nine M parcels for tax years 2009, 2010, and 2012. The Agency acquired the property through a Purchase Money Note dated May 3, 2010, when the former owner defaulted. o w Based on review of the County of San Bernardino Treasurer-Tax Collector's website during the ROPS 13-14B Meet and Confer process, it was determined that the current ' owner for all nine parcels is the Carousel Mall LLC, not the Agency. All of these o properties were inappropriately transferred to the San Bernardino Economic Development Corporation (SBEDC) in March 2011, who then transferred the properties back to Carousel Mall LLC in December 2011. As of April 14, 2014, according to the LO Tax Collector's website, these properties are still in the name of Carousel Mall. Additionally, it appears the first payment for tax year 2009 was paid, and a refund issued to SBEDC for the second installment. U� a O Finance approved OB Resolution No. SBOB/2013-04 approving the acceptance by the WI Agency of the transfer of the assets from SBEDC back to the Agency through a determination letter dated March 13, 2014. At this point, it is not clear whether or not SBEDC holds title to the properties to affect a transfer back to the Agency, nor is it clear c what amount, if any, is due for past due property taxes. m i c During the Meet and Confer process, the Agency continued to object to Finance's cn determination; however, no additional information or documents were provided. Therefore, this item is not an enforceable obligation and is not eligible for RPTTF funding. m • Item Nos. 90 to 93 — Discounted Settlement of Lawsuits to foreclosure mechanics liens w against former RDA properties totaling $2,309,000 funded by"Other"funds. Finance continues to deny these items. During the California State Controller Office's (Controller)Asset Transfer Review, the Controller ordered the return of several properties formerly owned by the Agency. The Agency contends the Controller's return order also includes any outstanding related liabilities related to those assets; therefore, Q those liabilities are now obligations of the Agency. Finance denied these items as it was our understanding that these liabilities were incurred or created during the time the Packet Pg. 35 Mr. Allen Parker 2 B c May 16, 2014 Page 5 properties were owned and operated by the SBEDC, and any contracts or agreements signed were executed between the SBEDC and various third parties; the former RDA was not a party to the contracts. Additionally, Finance denied the transfer of liabilities related to these properties through a determination letter dated March 13, 2014 for OB a Resolution No. SBOB/2013-04. 4 During the Meet and Confer process, the Agency continued to object to Finance's determination; however, no additional information or documents were provided. o. Therefore, these items are not enforceable obligations and are not eligible for"Other Funds." o _ • Item Nos. 94, 95, 113 and 114— Unfunded Prior-Year Pass-Through Obligations totaling a $2,940,241. Finance no longer denies Item No. 94; however, Finance continues to deny Item Nos. 95, 113, and 114. During our initial review, the Agency provided demand letters from Rialto Unified School District(RUSD), San Bernardino City Unified School District, San Bernardino County Superintendent of Schools, and San Bernardino a Community College District that requested payments of underfunded pass-throughs for w fiscal years 2008-09 through 2010-11 based on a Los Angeles Unified School District o (LAUSD) court decision. However, Finance denied these items because the Agency is M not named as a party to the court decision and has not shown that the requested payments are binding. o w During the Meet and Confer process, RUSD contended that Item No. 94 is not related to E the calculations of the AB 1290 pass-throughs based on the LAUSD court decision. RUSD clarified that this item is related to unpaid amounts and miscalculations in fiscal o years 2007-08 through 2010-11 under a contractual pass-through agreement between the former RDA and RUSD dated July 25, 1990. Based on a review of the 1990 Agreement and other documents provided to support the calculations and < payments made, Finance approves this item for payment from RPTTF funding. v T During the Meet and Confer process, the San Bernardino City Unified School District, Cn San Bernardino County Superintendent of Schools, and San Bernardino Community o College District contended that the demand letters etters for Item Nos. 95, 113, and 114 for W i underfunded AB 1290 pass-throughs are enforceable obligations. However, as =° previously stated, these demands are based on a LAUSD court decision and the Agency E was not a named party. Therefore, these items are not enforceable obligations and are L not eligible for RPTTF funding. m i • Item Nos. 102 through 107—Various obligations to correct a Prior Period Adjustment cn error totaling $944,503. Finance no longer denies Item Nos. 102 through 106; however, r Finance continues to deny Item No. 107 at this time. Finance initially denied the items summarized below because the Agency did not provide documentation to support the 6 items claimed: m X w a� E U R Q Packet Pg. 36 Mr. Allen Parker May 16, 2014 Page 6 Ar ROPS 14-15A ROPS III PPA Description Authorized Actual Disallowed Item No. Item No. 102 2 1997A Bond $22,500 $43,656 $21,156 103 9 20058 TAB 430,887 431,106 219 Q 104 15 CMB-E $10,000,000 261,600 262,500 900 v 105 26 Woolworth Bldg 506,637 517,053 10,416 Litigation—Carousel U) 106 33 Mall(Placo} 40,000 107,119 67,119 M D: 107 38 Long Term Property 102,000 946,693 844,693 o Maintenance Total $1,363,624 $2,308,127 $944,503 a W • L During the Meet and Confer process the Agency provided invoices and checks showing the actual payments made for the following items in the following amounts: d CL X o Item No. 103—$431,106 was paid; therefore, the additional $219 is approved. w o Item No. 104—$262,500 was paid; therefore, the additional $900 is approved. o o Item No. 105—$514,970 was paid; therefore, an additional $8,333 is approved M and the remaining $2,083 continues to be denied. o Item No. 106—$107,119 was paid; therefore, the additional $67,119 is approved. 2 w For Item No. 102, the Agency stated that the prior period adjustment in the amount of E $21,156 is correct and no additional funds are needed. For Item No. 107, the Agency provided a list of all Agency-owned properties and a document detailing the various expenditures incurred during the ROPS III period that the i Agency classified as maintenance costs totaling $966,755. However, information was Q LO not provided indicating how the detailed costs are associated with the Agency-owned 4 properties. The Agency indicated they are in the processing of completing a bridging ri document linking the property maintenance expenditures to the specific properties. N Therefore, Finance will approve this item for funding and continue working the Agency o on the review of the specific expenditures incurred. However, any costs incurred but i not associated with the maintenance of Agency-owned properties may be disallowed °_ and added to the prior period adjustment as funds available for expenditure on a future �a ROPS. _ L CO W • Claimed administrative costs exceed the allowance by$344,523. HSC section 34171 (b) limits the fiscal year 2014-2015 administrative expenses to three of property rt tax cn allocated to the Agency or$250,000, whichever is greater. Although $821,984 is claimed for administrative cost, only$477,461 is available pursuant to the cap. t Therefore, $344,523 of excess administrative cost is not allowed. m • Pursuant to HSC section 34186 (a), successor agencies were required to report on the w ROPS 14-15A form the estimated obligations and actual payments (prior period adjustments) associated with the July through December 2013 period. HSC section 34186 (a) also specifies prior period adjustments self-reported by successor agencies are subject to audit by the county auditor-controller(CAC)and the Controller. The amount of RPTTF approved in the table below includes the prior period adjustment Q resulting from the CAC's audit of the Agency's self-reported prior period adjustment. Packet Pg.37 Mr. Allen Parker May 16, 2014 Page 7 During the Meet and Confer process, the Agency objected to the prior period adjustment amount; however, no additional information or documents were provided. Therefore, no change is being made to the prior period adjustment. Except for the items denied in whole or in part as enforceable obligations or for the items that LO Q have been reclassified, Finance is not objecting to the remaining items listed on your ROPS 14-15A. The Agency's maximum approved RPTTF distribution for the reporting period is N $10,533,920 as summarized below: °- 0 a: L Approved RPTTF Distribution ,o For the period of July through December 2014 Total requested or non-administrative obligations 27,399,459 n Total RPTTF requested for administrative obligations 821,984 Total RPTTF requested for obligations $ 28,221,443 a Total RPTTF requested for non-administrative obligations 27,399,459 a Denied Item x W Item No. 7 (37,800) Item No. 85 (2,644,578) o Item No. 87 (869,691) LO Item No. 95 (2,223,398) _ Item No. 99 (967) 0 Item No. 100 (19,715) Item No. 102 (21,156) E Item No. 105 (2,083) Item No. 113 (81,700) 0 Item No. 114 (592,431) V i Reclassified Item (6,493,519) i Q Item No. 82 (4,849,838) Ln Item No. 10 (108,107) 4 Item No. 12 (1,452) NI Item No. 13 (31,170) O (4,990,567) W Total RPTTF authorized for non-administrative obligations $ 15,915,373 0� c Total RPTTF requested for administrative obligations 821,984 Administrative costs in excess of the cap(see Admin Cost Cap table below) (344,523) _ a� Total RPTTF authorized for administrative obligations $ 477,461 m Total RPTTF authorized for obligations to $ 16,392,834 ROPS 13-14A prior period adjustment (5,858,914) Total RPTTF approved for distribution $ 10,533,920 m Administrative Cost Cap Calculation x Total RPTTF authorized for non-administrative obligations 15,915,373 w Percent allowed pursuant to HSC section 34171 (b) 3% c Total RPTTF allowable for administrative obligations 477,461 E t Total RPTTF administrative obligations after Finance adjustments 821 984 Administrative costs in excess of the cap $ (344,523) e( Packet Pg.38 Mr. Allen Parker ­_1__­ [' May 16, 2014 Page 8 Pursuant n o HSC section 34177 I 1 E agencies are required to use all( }( ) ( ), g q available funding sources prior to RPTTF for payment of enforceable obligations. During the ROPS 14-15A review, Finance requested financial records to support the fund balances reported by the Agency; however, Finance was unable to reconcile the financial records to the amounts Q reported. As a result, Finance will continue to work with the Agency after the ROPS 14-15A r review period to properly identify the Agency's fund balances. If it is determined the Agency 4 possesses fund balances that are available to pay approved obligations, the Agency should y request the use of these fund balances prior to requesting RPTTF in ROPS 14-158. d 0 W Please refer to the ROPS 14-15A schedule that was used to calculate the approved RPTTF amount: M a. http://www.dof.ca.gov/redevelopment/ROPS d This is Finance's final determination related to the enforceable obligations reported on your ROPS for July 1 through December 31, 2014. This determination only applies to items where x funding was requested for the six-month period. Finance's determination is effective for this W time period only and should not be conclusively relied upon for future periods. All items listed o on a future ROPS are subject to a subsequent review and may be denied even if it was or was M not denied on this ROPS or a preceding ROPS. The only exception is for those items that have = received a Final and Conclusive determination from Finance pursuant to HSC section C 34177.5 (i). Finance's review of items that have received a Final and Conclusive determination is limited to confirming the scheduled payments as required by the obligation. E L The amount available from the RPTTF is the same as the amount of property tax increment that o was available prior to enactment of ABx1 26 and AB 1484. This amount is not and never was U an unlimited funding source. Therefore, as a practical matter, the ability to fund the items on the ROPS with property tax is limited to the amount of funding available to the successor agency in Ln� the RPTTF. 4 To the extent proceeds from bonds issued after December 31, 2010 exist and are not Cn i a encumbered by an enforceable obligation pursuant to HSC section 34171 (d), o HSC section 34191.4 (c) (2) (B) requires these proceeds be used to defease the bonds or to of purchase those same outstanding bonds on the open market for cancellation. c �a L Please direct inquiries to Evelyn Suess, Dispute Resolution Supervisor, or Mary Halterman, c Analyst, at(916)445-1546. m i Sincerely, Cn T r JUSTYN HOWARD m Assistant Program Budget Manager x W w cc: Ms. Lisa Connor, Project Manager, City of San Bernardino a Ms. Linda Santillano, Property Tax Manager, San Bernardino County s California State Controller's Office w Q f' Packet Pg.39 Successor Agency Plan for Use of RPTTF and Non-RPTTF During ROPS 14-15A EXHIBIT"C" Showing RPTTF Obligations(Requests,Approvals,Use Plan) and Use of Other Funds Funding RPTTF RPTTF RPTTF Use of EO p Obligation Priority ROPS Request DOF Approved Proposed Use Plan Other Funds 3 1998ATABs 1 $ 207,144 $ 207,144 $ 207,144 $ 4 1998BTABs 1 125,588 125,588 125,588 - 6 2002A TABS 1 172,975 172,975 172,975 - 7 2002 TABS 1 631,688 593,888 593,888 - 8 2005A TABS 1 4,023,753 4,023,753 666,148 3,357,605 9 2005BTABs 1 1,540,393 1,540,393 1,540,393 - 10 2010A BABs 1 258,875 150,768 150,768 108,107 (see Note 2) 11 20108 TABS 1 86,800 86,800 86,800 12 1995H Bonds 1 41,938 40,486 40,486 1,452 (see Note 2) 13 1995R Bonds 1 38,194 7,024 7,024 31,170 (see Note 2) 14 EB-5 Notes($15M) 1 393,750 393,750 393,750 - 15 EB-5 Notes($10M) 1 262,500 262,500 262,500 - 16 EB-5 Notes($8M) 1 210,000 210,000 210,000 - 17 Sec.108 Bonds(Cinema) 1 590,290 590,290 590,290 - 18 Sec.108 Bonds(A-G)) 4 - - - 19 Hillwood Tax Sharing Agr. 3 245,439 245,439 245,439 - 20 BP Cal Tax Sharing Agr. 3 95,127 95,127 95,127 - 24 Waterman Tax Sharing Agr. 3 11,052 11,052 11,052 - 28 2006 TABS(Housing) 1 571,559 571,559 571,559 - a 30 PERS Unfunded Liability 4 - - - .�- 31 Retiree Health 3 14,850 14,850 14,850 - 32 SA Administration 2 821,984 477,461 477,461 - U) a 33 Litigation(Placo) 3 283 283 283 - 0 34 Litigation(Peart) 3 9,085 9,085 9,085 - e 36 Litigation(Glen Aire MHP) 3 23,357 23,357 12,410 10,947 38 Property Maintenance 2 1,385,200 1,385,200 - 1,385,200 m a 41 Auto Mall Reader Board 4 - - - d 82 DSRF Replenishments 6 4,849,838 - - - 84 Securities Servicing 1 71,089 71,089 71,089 - 85 SBVMWD Pass Thru Pmt. 6 2,644,578 - - - w a 87 Mall Property Taxes 6 869,691 - - - w 94 RUSD Past Pass-Thru Pmt. 3 42,742 42,742 42,742 - 95 SB City USD Pass Thru Pmt. 6 2,223,398 - - - ro 96 1999 COP,Reimbursement 3 1,139,588 1,139,588 965,500 174,088 LL 97 1998A TABS PPA Correction 5 985,000 985,000 985,000 - 98 19988 TABS PPA Correction 5 420,000 420,000 420,000 - a 99 1995H Bonds PPA Correction 5 59,274 58,307 58,307 - c 100 1995R Bonds PPA Correction 5 35,406 15,691 15,691 - o z 101 2006 TABS PPA Correction 5 1,470,000 1,470,000 1,470,000 - H 102 1997A TABS PPA Correction 5 21,156 - - - a 103 2005B TABS PPA Correction 5 219 219 (see Note 1) - 0 104 CMB Export PPA Correction 5 900 900 (see Note 1) - 105 Woolworth Bldg.PPA Corr. 5 10,416 8,333 (see Note 1) - c m 106 Litigation PPA Correction 5 67,119 67,119 (see Note 1) - a 107 LTPM PPA Correction 5 844,503 844,503 (see Note 1) 108 Neighborhood Housing 3 17,238 17,238 17,238 - :o 109 2005A TABS PPA Correction 5 711 711 711 - c N 110 20056 TABS PPA Correction 5 1,721 1,721 1,721 - x 111 1995R Bonds PPA Correction 5 1 1 1 - ul 112 CMB Export PPA Correction 3 900 900 900 - x 113 SBCSS Pass Thru Pmt. 6 81,700 - - - to 114 SBCCD Pass Thru Pmt. 6 592,431 - - - m 115 Anticipated Litigation 3 10,000 10,000 - - E 0 m TOTALof EOs 28,221,443 16,392,834 10,533,920 5,068,569 Total Q (140,729) 3P Payments RPTTF Received for ROPS 14-15A 10,533,920 $ 4,927,840 "Other Funds"to be provided from Other Funds from Balances Retained Successor Agency to be Applied in ROPS 14-15A 5,858,914 Retained Balance NOTE 1: Payment of obligation was made during ROPS II period. Listing on RODS 14-15A was for purposes of obtaining DOF of the payment already made.Thus,no funds required in ROPS 14-15A. NOTE 2: "Other Funds"identified to be used in the payment of these ROPS items are payments from third parties made directly to the bond trustee or bank,and are not funds of the Successor Agency. Priorities 1= Debt Service or Debt Service Related 2=Administration 3= Enforceable Obligation 4= No Payment Due During ROPS 14-15A(See Notes) 5=Correction of Funding Deficiency During ROPS 13-14B 6= Denied by DOF Packet Pg.40_