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HomeMy WebLinkAbout03 APPROVING RECOGNIZED OBLIATION PAYMENT SCHEDULEAgenda Item 3 AGENDA REPORT Oversight Board of the Successor Agency to the Tustin Community Redevelopment Agency MEETING DATE: SEPTEMBER 24, 2013 SUBJECT/ACTION: ADOPT OVERSIGHT BOARD RESOLUTION NO. 13-07 APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE 13-14B FOR THE PERIOD OF JANUARY 2014 THROUGH JUNE 2014 RECOMMENDATION / PROPOSED ACTION It is recommended the Oversight Board of the Successor Agency to the Tustin Community Redevelopment Agency adopt Oversight Board Resolution No. 13-07 approving the Recognized Obligation Payment Schedule 13-14B ("ROPS 13-14B") for the period of January through June 2014, subject to the following conditions: a) The Oversight Board and the Successor Agency reserve all rights to seek payment for any obligations removed by the Department of Finance ("DoF") from ROPS 13- 146; and b) Should any subsequent modifications be required to ROPS 13-14B, the Executive Director and/or Finance Director, or their authorized designee, shall be authorized to make any augmentation, modification, additions or revisions as may be necessary subject to certification by the Oversight Board Chair. (Note: Pursuant to AB 1484 -amended California Health and Safety Code (HSC) Section 34177(m), the above actions by the Oversight Board shall not become effective for forty-five (45) business days pending a review by the DoF. Within five business days of the DoF's determination, the Successor Agency can request additional review by the DoF and an opportunity to meet and confer on disputed items.) BACKGROUND Assembly Bill 1X 26, the "Dissolution Act", as modified by the California Supreme Court's decision in California Redevelopment Association, et al. v. Matosantos ("Matosantos"), requires the Successor Agency to prepare a Recognized Obligation Payment Schedule (ROPS) looking forward to the six month period covering January 1, 2014 through June 30, 2014, subject to Oversight Board approval. The DoF has given the ROPS a new naming convention of 13-14A and 13-14B for the fiscal year 2013-14, "B" representing the second half of the fiscal year. ROPS 13-14B lists all enforceable obligations that are legally binding and enforceable agreements or contracts of the former Tustin Community Redevelopment Agency including those Agenda Report September 24, 2013 Page 2 necessary for the continued administration of the Successor Agency to wind down the former Agency. Pursuant to the AB 1484 -amended Dissolution Act (HSC 34177(1)(2)(B)), the Successor Agency is now required to submit a copy of the ROPS to the County Administrative Officer, the County Auditor -Controller, and the DoF at the same time that the Successor Agency submits the ROPS to the Oversight Board for approval. ROPS 13-14B was approved by the Successor Agency at their regular meeting on September 17, 2014. Upon approval by the Oversight Board, a copy will be submitted to the County Auditor - Controller, the State Controller's Office and the DoF and posted on the Successor Agency's website. ROPS 13-14B includes a form that reconciles estimated expenditures for the period of January 1, 2013 through June 30, 2013 with the actual expenditures. The Finance Department is currently closing out the ROPS expenditure period and there could be adjustments between the submission of the ROPS to the Oversight Board and the submission to the DoF by October 1, 2013. Authorization is requested to allow the Successor Agency's Executive Director and/or Finance Director to augment, modify, add or revise the document as may be needed prior to submitting to the DoF. In addition, authorization is requested, in response to the DoF or County Auditor -Controller comments, to allow the Successor Agency's Executive Director and/or Finance Director to augment, modify, add or revise the document as may be needed. Staff will be available to answer any questions the Oversight Board may have. Attachment: Oversight Board Resolution No. 13-07 OVERSIGHT BOARD RESOLUTION NO. 13-07 A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE 13-14B ("ROPS 13-146") AND MAKING CERTAIN FINDINGS IN CONNECTION THEREWITH The Oversight Board of the Successor Agency to the Tustin Community Redevelopment Agency finds, determines and declares as follows: A. The Tustin Community Redevelopment Agency ("Agency') was established as a community redevelopment agency that was previously organized and existing under the California Community Redevelopment Law, Health and Safety Code Sections 33000, et seq. ("CRL") and previously authorized to transact business and exercise the powers of a redevelopment agency pursuant to action of the City Council ("City Council") of the City of Tustin ("City"); and B. AB X1 26 ("AB26") added Parts 1.8 and 1.85 to Division 24 of the California Health and Safety Code, which laws cause the dissolution and wind down of all redevelopment agencies ("Dissolution Act"); and C. On December 29, 2011, in the petition California Redevelopment Association v. Matosantos, Case No. S194861, the California Supreme Court upheld the Dissolution Act and thereby all redevelopment agencies in California are subject to the Dissolution Act and were dissolved as of and on February 1, 2012; and D. The Agency is now a dissolved community redevelopment agency pursuant to the Dissolution Act; and E. By a resolution considered and approved by the City Council at an open public meeting on January 17, 2012, the City chose to become and serve as the "Successor Agency" to the dissolved Agency under the Dissolution Act; and F. As of and on and after February 1, 2012, the City serves as the "Successor Agency" and will perform its functions as the Successor Agency under the Dissolution Act to administer the enforceable obligations of the Successor Agency and otherwise unwind the Successor Agency's affairs, all subject to the review and approval by the seven - member Oversight Board formed thereunder; and G. Pursuant to Section 34179, the Successor Agency's Oversight Board has been formed and the initial meeting has occurred on March 13, 2012; and H. Section 34179(e), as amended by Assembly Bill 1484 ("AB 1484"), requires all actions taken by the Oversight Board to be adopted by resolution; and Oversight Board Resolution 13-07 Page 1 of 3 I. On September 17, 2013, the Successor Agency approved the Recognized Obligation Payment Schedule 13-14B ("ROPS 13-14B") for the period of January 1, 2014 through June 30, 2014; and J. The Oversight Board has duly considered all other related matters and has determined that the Board's approval of ROPS 13-14B and submission to the California Department of Finance is in the best interests of the City and Agency and in the health, safety, and welfare of its residents, and in accord with the public purposes and provisions of applicable state and local laws and requirements. NOW, THEREFORE, BE IT RESOLVED BY A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY: Section 1. The foregoing recitals are incorporated into this Resolution by this reference, and constitute a material part of this Resolution. Section 2. The Oversight Board approves ROPS 13-14B attached hereto as Attachment No. 1 and incorporated herein, and further authorizes the Successor Agency to transmit this Resolution to the County Auditor -Controller, the State Department of Finance ("DoF"), and the State Controller's Office. Section 3. The Executive Director of the Successor Agency or his authorized designee is directed to post this Resolution on the City/Successor Agency website. Section 4. This Resolution adopted by the Oversight Board shall not become effective no later than forty-five (45) business days after submission to the DoF, pending a review by the DoF. Within five business days of the DoF's determination, the Successor Agency can request additional review by the DoF and an opportunity to meet and confer on disputed items. Section 5. The Secretary of the Oversight Board shall certify to the adoption of this Resolution. APPROVED AND ADOPTED this 24th day of September, 2013. Doug Davert, Chairman Oversight Board of the Successor Agency to the Tustin Community Redevelopment Agency ATTEST: Charles E. "Chuck" Puckett, Secretary Oversight Board of the Successor Agency to the Tustin Community Redevelopment Agency Oversight Board Resolution 13-07 Page 2 of 3 STATE OF CALIFORNIA ) COUNTY OF ORANGE )SS CITY OF TUSTIN ) I, CHARLES E. "CHUCK" PUCKETT, Secretary of the Oversight Board of the Successor Agency to the Tustin Community Redevelopment Agency, do hereby certify that the whole number of the members of the Agency Board is seven; that the above and foregoing Resolution No. 13-07 was duly passed and adopted at a regular meeting of the Oversight Board, held on the 24th day of September, 2013, by the following vote: BOARD MEMBER AYES: BOARD MEMBER NOES: BOARD MEMBERS ABSTAINED: BOARD MEMBERS ABSENT: Charles E. "Chuck" Puckett, Secretary Oversight Board of the Successor Agency to the Tustin Community Redevelopment Agency Attachment No. 1 — Recognized Obligation Payment Schedule 13-14B (January — June 2014) Oversight Board Resolution 13-07 Page 3 of 3 ATTACHMENT NO. 1 RECOGNIZED OBLIGATION PAYMENT SCHEDULE 13-14B (January — June 2014) Recognized Obligation Payment Schedule (ROPS 13-1413) -Summary Filed for the January 1, 2014 through June 30, 2014 Period Name of Successor Agency: Tustin Name of County: Orange 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): $ 112,750 B Bond Proceeds Funding (ROPS Detail) 112,750 C Reserve Balance Funding (ROPS Detail) D Other Funding (ROPS Detail) E Enforceable Obligations Funded with RPTTF Funding (F+G): F Non -Administrative Costs (ROPS Detail) G Administrative Costs (ROPS Detail) H Current Period Enforceable Obligations (A+E): $ 1,869,147 1,744,147 125,000 $ 1,981,897 Successor Agency Self -Reported Prior Period Adjustment to Current Period RPTTF Requested Funding I Enforceable Obligations funded with RPTTF (E): 1,869,147 J Less Prior Period Adjustment (Report of Prior Period Adjustments Column U) (944,987) K Adjusted Current Period RPTTF Requested Funding (I -J) $ 924,160 County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding L Enforceable Obligations funded with RPTTF (E): 1,869,147 M Less Prior Period Adjustment (Report of Prior Period Adjustments Column AB) - N Adjusted Current Period RPTTF Requested Funding (L -M) 1,869,147 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 Obligation Name Payment Schedule for the above named agency. /s/ Title Signature Date Recognized Obligation Payment Schedule (ROPS) 13-14B -Report of Fund 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 tax revenues is required by an enforceable obligation. A B C I D I E I F I G I H I I I J K Fund Sources Bond Proceeds Reserve Balance Other RPTTF Due Diligence Review balances retained for RPTTF Bonds Issued Bonds Issued approved balances Rent, on or before on or after enforceable retained for bond Grants, Fund Balance Information by ROPS Period 12/31/10 01/01/11 obligations reserves Interest, Etc. Non -Admin Admin Total Comments ROPS III Actuals (01/01/13 - 6/30/13) Beginning Available Fund Balance (Actual 01/01/13) Note that for the RPTTF, 1 + 2 should tie to columns L and Q in the 1 Report of Prior Period Adjustments (PPAs) 32,565,702 1,748,827 - - - $ 34,314,529 Revenue/Income (Actual 06/30/13) Note that the RPTTF amounts should tie to the ROPS 111 distributions from the County Auditor - 2 Controller 70,939 22,934 3,535,753 267,837 $ 3,897,464 Expenditures for ROPS III Enforceable Obligations (Actual 06/30/13) Note that for the RPTTF, 3 + 4 should tie to columns N 3 land S in the Report of PPAs 412,637 1,554,171 2,590,766 121,094 $ 4,678,667 Retention of Available Fund Balance (Actual 06/30/13) Note that the Non -Admin RPTTF amount should only include the 4 retention of reserves for debt service approved in ROPS 111 32,224,005 - 146,743 $ 32,370,748 ROPS III RPTTF Prior Period Adjustment Note that the net Non - Admin and Admin RPTTF amounts should tie to columns O and T No entry required 5 in the Report of PPAs. 1 944,987 146,743 $ 1,091,730 6 1 Ending Actual Available Fund Balance (1 + 2 - 3 - 4 - 5) $ (0) $ $ 194,657 1 $ $ 22,934 $ 0 $ (146,743) $ 70,848 ROPS 13-14A Estimate (07/01/13 - 12/31/13) Beginning Available Fund Balance (Actual 07/01/13) (C, D, E, 7 G, and I = 4 + 6, F = H4 + F6, and H = 5 + 6) $ 32,224,005 $ - $ 194,657 $ $ 22,934 $ 944,987 $ $ 33,533,326 Revenue/Income (Estimate 12/31/13) Note that the RPTTF amounts should tie to the ROPS 13-14A 8 distributions from the County Auditor -Controller 70,000 10,000 4,894,447 250,000 $ 5,224,447 Expenditures for 13-14A Enforceable Obligations 9 (Estimate 12/31/13) 472,588 4,894,447 250,000 1 $ 5,617,035 Retention of Available Fund Balance (Estimate 12/31/13) Note that the RPTTF amounts may include the retention of 10 reserves for debt service approved inROPS 13-14A 31,821,417 - - $ 31,821,417 11 Ending Estimated Available Fund Balance (7 + 8 - 9 -10) $ (0) $ $ 194,657 $ $ 32,934 $ 944,987 $ $ 1,319,321 Recognized Obligation Payment Schedule (ROPS) 13-14B - ROPS Detail January 1, 2014 through June 30, 2014 (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 TrustFund (Non-RPTTF) RPTTF Contract/Agreement Contract/Agreement Total Outstanding Item# Project Name/ Debt Obligation Obligation Type Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds Non -Admin Admin Six -Month Total $ 124,145,474 $ 112,750 $ - $ - $ 1,744,147 $ 125,000 $ 1,981,897 1 Housing Tax Allocation Bonds, 3/1/2010 9/1/2039 Bondholders via The Bank Proceeds from the sale ofthe Bonds All 38,848,978 N 533,703 $ 533,703 Series 2010 of New York Mellon will be used to (a) prepay a portion of the City Obligation (Affordable Housing Reimbursement Agreement), (b)fund a reserve accountforthe Bonds, and (c) provide for the cost of issuing the Bonds. Total outstanding debt includes principal and interest. 2 Fiscal Agent Fees -TA Bond 2010 1/19/2010 The Bank of New York administration of bond activities [paid All N $ - Mellon annual) 3 Continuing disclosure services 8. Applied Best Practices; Continuing disclosure services for All N $ - arbitrage services Willdan 8. Associates 2010 Housing bonds and arbitrage services. 4 Graffiti removal 10/1/2008 Graffiti Control Systems Graffiti removal in the Town Center All Y $ and South Central Redevelopment Project Areas. Contract is paid for through CDBG, General and RDA 5 Contract for available commercial 9/29/2010 LoopNet, Inc. Web -based Commercial Property All Y $ property search Search for available retail, commercial, industrial and other property types in Tustin 6 Contract for web -based business 3/18/2011 Tools for Business Web -based business assistance tools All Y $ - assistance information Success, LLC available on the City of Tustin website 7 Direct Project Related Costs Former employees funded ANNUAL Payroll for employees for All N $ - (including Salary and Benefits by the Successor Agency direct project operation; this amount funded by the Successor Agency) that perform Successor will fluctuate annually. The employees Agency activities for direct are performing project related activities project support involving the enforceable obligations listed on Rows #10416, Rows #22- #34, Rows #45447, 8. Rows #51463. 8 PERS liability (annually adjusted) City of Tustin Employees funded by the Successor All 140.518 N $ - Agencythatperform Successor Agency activities. The liability is reviewed annually and may increase or decrease based on a variety of economic and actuarial assumptions. 9 Bank Analysis Fees Bank ofAmerica Fees Charged by bank fortransactions All N $ - 10 Payment in Lieu of Taxes 10/1/1999 City of Tustin Agency monitors to insure receipt of All N $ - Agreement - Flanders Pointe annual payment 11 Payment in Lieu of Taxes 8/13/1998 City of Tustin Agency monitors to insure receipt of All N $ - Agreement - Orange Gardens annual payment (Agreement w/City) 12 Olson DDA/Arbor Walk 3/1/2004 Redevelopment Agency Monitoring to ensure the project All N $ - complies with the DDA. To the extent RPTTF funds are not available to fund this enforceable obligation, then the obligation shall be considered an encumbrance oftue LMIHF. Recognized Obligation Payment Schedule (ROPS) 13-14B - ROPS Detail January 1, 2014 through June 30, 2014 (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 Contract/Agreement Contract/Agreement Total Outstanding Item# Project Name/ Debt Obligation Obligation Type Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds Non -Admin Admin Six -Month Total 13 Arbor Walk Promissory Notes Redevelopment Agency Agency monitors to ensure the 10 All N $ - affordable homeownership units are in compliance with the Promissory Notes and recorded Affordable Housing Covenants. In addition, the Agency prepares and executes affordable housing documents when affordable homeowners refinance orsell their homes. To the extent RPTTF funds are not available to fund this enforceable obligation, then the obligation shall be considered an encumbrance ofthe LMIHF. 14 Hentage Place DDA 4/11/2002 Redevelopment Agency Agency monitors to ensure 53 units All N $ are in compliance with affordability requirements. To the extent RPTTF funds are not available to fund this enforceable obligation, then the obligation shall be considered an encumbrance ofthe LMIHF. 15 Hentage Place Loan Agreement 4/12/2007 Redevelopment Agency Financial assistance was provided by All N $ the Agency to the Developerfor construction of a multi -family project andthe Agency monitors the terms of the loan agreement (expires 4-15- 2033), including the residual receipt payment. To the extent RPTTF funds are not available to fund this enforceable obligation, then the obligation shall be considered an encumbrance ofthe LMIHF. 16 Single and Multi -Family Redevelopment Agency Agency monitors 6 Single Family and All N $ - Rehabilitation Loans Multi -Family Loans between the Agency and Property Owners of rehabilitated properties. 17 Asset Transfer Obligations Successor Agency In accordance with California Health All N $ and Safety Code Section 34117(e) the Successor Agency is responsible for disposing of assets and properties as directed by the Oversight Board pursuant to subvision a of Section 34181. The Successor Agency will incur costs associated with the transfer of assets including but not limited to escrow fees, title costs, recording fees and any other associated closing costs. Recognized Obligation Payment Schedule (ROPS) 13-14B - ROPS Detail January 1, 2014 through June 30, 2014 (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 TrustFund (Non-RPTTF) RPTTF Contract/Agreement Contract/Agreement Total Outstanding Item# Project Name/ Debt Obligation Obligation Type Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds Non-Admin Admin Six-Month Total 18 Town CenterHousing Deficit 5/1/2000 Agency's Town Center Repaymentfor Town Center Housing Town Center N $ - Reduction Plan Housing Set-Aside fund Set-Aside funds diverted to support non-housing Redevelopment activities in Town Center during the period of 1986 - 1992. (Per AB 14134-amended Health & Safety Code Section, 34176(e)(6)(B), loan ordeferral payments shall not be made priorto the 2013-2014 fiscal year. As a result, $900,000 has been removed from the 'Total Due During Fiscal Year2012-13 column.) 19 Tax Allocation Refunding Bonds 7/1/1998 12/1/2016 Bondholders via US Bank Bond issue to fund non-housing Town Center 6,542,979 N 112,131 $ 112.131 1998 (Town Center) projects. Total outstanding debt includes principal and interest. 20 Fiscal Agent Fees -TA Bond 1998 1/19/2010 US Bank administration of bond activities Town Center N $ 21 Continuing disclosure & arbitrage Applied Best Practices; Continuing disclosure & arbitrage Town Center N $ - services Willdan & Associates services for 1998 bonds 22 Contract for engineering services 6/9/2011 Critical Structures, Inc. Structural engineering assessment of Town Center 8,100 N $ - Stevens Square Parking Structure 23 Stevens Square Parking Garage 6/17/1988 Stevens Square Parking There are ongoing maintenance costs Town Center 35,000 N 10.000 $ 10.000 Declaration of Covenants, Structure Condominium as required bythe CCBRs. In addition, Conditions, Restrictions and Association there are one-time, deferred Reservations maintenance repairs that will be determined by the stm ctural engineering assessment. The costs associated Wth ongoing maintenance and deferred maintenance repairs are estimates. 24 Ambrose Lane/First Time 5/17/2000 Redevelopment Agency Agency monitors to ensure the 5 Town Center N $ - Homebuyer affordable homeownership units are in compliance with the Promissory Notes and recorded Affordable Housing Covenants. In addition, the Agency prepares and executes affordable housing documents when affordable homeowners refinance orsell their homes. To the extent RPTTF funds are not available to fund this enforceable obligation, then the obligation shall be considered an encumbrance oftue LMIHF. 25 First Time Homebuyer Promissory 5/17/2000 Redevelopment Agency Agency monitors to ensure the 1 first Town Center N $ - Note time h ome buyer unit is in compliance with the Promissory Note and an Affordable Housing Covenant. In addition, the Agency prepares and executes affordable housing documents when the affordable homeowner refinances or sells their home. To the extent RPTTF funds are not available to fund this enforceable obligation, then the obligation shall be considered an encumbrance of the LMIHF. Recognized Obligation Payment Schedule (ROPS) 13-14B - ROPS Detail January 1, 2014 through June 30, 2014 (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 TrustFund (Non-RPTTF) RPTTF Contract/Agreement Contract/Agreement Total Outstanding Item# Project Name/ Debt Obligation Obligation Type Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds Non -Admin Admin Six -Month Total 26 Makena DDA 10/19/2004 Redevelopment Agency Monitonng to insure developer is in Town Center N $ - compliance with contractual obligations. 27 Old Town Plaza Retail Rehab DDA 5/10/2001 Redevelopment Agency Monitonng to insure developer is in Town Center N $ - compliance with contractual obligations. 28 Plaza Lafayette DDA 7/2/1985 Redevelopment Agency Monitonng to insure developer is in Town Center N $ - compliance with contractual obligations. 29 Ford Commercial Rehab DDA 9/15/1998 Redevelopment Agency Monitonng to insure developer is in Town Center N $ - compliance with contractual obligations. 30 Micro Center DDA 11/21/1994 Redevelopment Agency Monitonng to insure developer is in Town Center N $ - compliance with contractual obligations. 31 Thompson Building OPA 6/6/1994 Redevelopment Agency Monitonng to insure developer is in Town Center N $ - compliance with contractual obligations. 32 Stevens Square Parking Structure - Redevelopment Agency Monitonng to insure 8licenses are in Town Center N $ - License Agreement (8) compliance with contractual obligations. 33 Potted Plants Agreements (17) Redevelopment Agency Monitonng to insure seventeen 17 Town Center N $ - agreements are in compliance with contractual obligations. 34 Prospect Village DDA 6/21/2004 Redevelopment Agency Monitonng to insure developer is in Town Center compliance with contractual obligations. Recognized Obligation Payment Schedule (ROPS) 13-14B - ROPS Detail January 1, 2014 through June 30, 2014 (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 Contract/Agreement Contract/Agreement Total Outstanding Item# Project Name/ Debt Obligation Obligation Type Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds Non-Admin Admin Six-Month Total 35 Public Works Agreement/South 6/7/1993 City of Tustin Onginal Loan amountto the Agency in South Central N $ - Central Redevelopment Project 1993 was initially estimated to be $33,500,000 forthe Newport Avenue Extension (Newport Underpass) to Edinger Avenue. The interest rate is .5% above the City's average yield on investments. Repayment of the loan is based on City-funded Phase 1 work (Capital Improvement Program - CIP 70130)that has been completed on the NewportAvenue Extension/SR-55 North Bound Ramp Reconfiguration Project. The Phase 1 project began in 1993 and was completed in March 2010. Phase 1 (CIP 70130) contracts are not listed on previous EOPS or ROPS. There is no duplication of obligations. Phase 2 work (CIP 70131) consists of contracts listed below in Rows #42447 and these contracts have not been double counted in Phase 1. Pursuant to Section 1 Public Improvement Wont ofthe Public Worcs Agreement, the Successor Agency shall pay the City when projects are completed and in semi-annual installments (per Section 2 Payment by the Agency ofthe Agreement). This installment will reflect initial reimbursement payments until confirmation ofthe Oversight Board of the actual increased costs ofthe 36 Memorandum of Understanding with 3/20/1985 Orange County Water Tax share agreement (pre-AB 1290) South Central N $ - Orange County Water Distinct District with the Agency. Applicability of (Section 33401 Payment; 3/20/1985) agreement is questionable because of provisions with AB1X 26. 37 Memorandum of Understanding with 9/13/1985 Tustin Unified School Tax share agreement pre-1290 with South Central N $ - Tustin Unified School District District Agency. The agreement provides that (Section 33401 Payment; 9/13/1985) certain tax sharing payments would occur afterthe Agency has expended $10 million dollars forconstmction of facilities within the South Central Amendment Area and or retired bonds or other indebtedness for such construction as provided in the Agreement. The Agency has not retired the indebtedness associated with the 1993 Public Works Agreement and, as a result, there have been no Payments made to date. Recognized Obligation Payment Schedule (ROPS) 13-14B - ROPS Detail January 1, 2014 through June 30, 2014 (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 TrustFund (Non-RPTTF) RPTTF Contract/Agreement Contract/Agreement Total Outstanding Item# Project Name/ Debt Obligation Obligation Type Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds Non-Admin Admin Six-Month Total 38 Memorandum of Understanding with 9/13/1985 Saddleback Community Tax share agreement pre-1290 with South Central N $ - Saddleback Community College College District Agency. The agreement provides that District (Section 33401 Payment; certain tax sharing payments would 9/13/1985) occur afterthe Agency has expended $10 million dollars for constmction of facilities within the South Central Amendment Area and or retired bonds or other indebtedness for such construction as provided in the Agreement. The Agency has not retired the indebtedness associated with the 1993 Public Works Agreement and, as a result, there have been no payments made to date. 39 Newport Av./SR55 NS Ramp 11/25/2008 Psomas Engineenng Mapping and survey services South Central 13,800 N $ - Reconfigumbon 40 Newport Av./SR55 NS Ramp 1/26/2010 AndemonPenna Program management services South Central 1,875 N $ - Reconfigumbon 41 NewportAv. Extension, N/O Edinger 2/2/2010 Dokken Engineering Final design services South Central 7,500 N $ - Av. 42 NewportAv. Extension, N/O Edinger 10/8/2010 Nuvis Landscape design services South Central 19,290 N $ - Av. 43 NewportAv. Extension, N/O Edinger 12/16/2007 Morrow Management Dry Utility design and coordination South Central 1,200 N $ - Av. services 44 Newport Av. Extension, N/O Edinger 1/26/2010 AndersonIcenna Program management services South Central 5,000 N $ - Av. 45 CBS Outdoor Billboard 12/19/1994 Redevelopment Agency Monitonng to insure licensee is in South Central N $ - compliance with contractual obligations. 46 Tustin Grove Promissory Notes and Redevelopment Agency Agency monitors to ensure the sixteen South Central N $ - Affordable Housing Covenants 16 affordable homeownership units are in compliance with the Promissory Notes and recorded Affordable Housing Covenants. In addition, the Agency prepares and executes affordable housing documents when affordable homeowners refinance or sell their homes. To the extent RPTTF funds are not available to fund this enforceable obligation, then the obligation shall be considered an encumbrance oftue LMIHF. 47 Tustin Grove Affordable Housing 12/27/1995 Redevelopment Agency Monitonng to ensure the project South Central N $ - DDA complies with the DDA. To the extent RPTTF funds are not available to fund this enforceable obligation, then the obligation shall be considered an encumbrance oftue LMIHF. 48 Tax Allocation Bonds -MCAS 11/1/2010 9/1/2040 Bondholders via The Ban of Bond issue to fund non-housing MCAS Tustin 78,102,188 N $ - Tustin, Senes 2010 New York Mellon projects. Total outstanding debt includes principal and interest. 49 Fiscal Agent Fees -TA Bond 2010 9/7/2010 The Bank of New York administration of bond activities MCAS Tustin N 984.963 $ 984,963 Mellon Recognized Obligation Payment Schedule (ROPS) 13-14B - ROPS Detail January 1, 2014 through June 30, 2014 (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 TrustFund (Non-RPTTF) RPTTF Contract/Agreement Contract/Agreement Total Outstanding Item# Project Name/ Debt Obligation Obligation Type Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds Non -Admin Admin Six -Month Total 50 Continuing disclosure services & Applied Best Practices; Continuing disclosure services for MCAS Tustin N $ - arbitrage services Willdan & Associates 2010 MCAS bonds & arbitrage services 51 Lease between the USA and the 5/13/2002 Redevelopment Agency Property Management, Maintenance, MCAS Tustin N $ - City of Tustin for Portions ofthe Environmental Remediation, and Real Former Manne Corps Air Station Estate obligations of City required by Tustin Navy on Lease sites until conveyance of properties. This includes asset management and disposal, property management and remediation. Direct project related staffing costs only associated Wth asset management and disposal under the LIFOC are listed in Row V. Contractual response costs for all other responsibilities underthe LIFOC Agreement will be as they are incurred and as requested by the Department of N avy. 52 Lease between the USA and the 6;16;2004 Redevelopment Agency Property Management, Maintenance, MCAS Tustin N $ - City of Tustin for Parcel 22 ofthe Environmental Remediation, and Real Former Marne Corps Air Station Estate obligations of City required by Tustin Navy on Lease sites until conveyance of properties. This includes asset management and disposal, property management and remediation. Direct project related staffing costs only associated wth asset management and disposal under the LIFOC are listed in Row V. Contractual response costs for all other responsibilities underthe LIFOC Agreement will be as they are incurred and as requested by the Department of N avy. 53 Economic Development 5/13/2002 Redevelopment Agency Obligations of City required by Navy in MCAS Tustin N $ - Conveyance (EDC) Application for the conveyance ofthe property under Marne Corps Air Station (MCAS) the Reuse Plan adopted in 2002. This Tustin as Amended includes asset management and disposal, property management and remediation. Direct project related staffing costs associated with asset management and disposal underthe EDC are listed in Row V. Contractual response costs for all other responsibilities underthe EDC Agreement will be as they are incurred and as requested by the Department of Navy. 54 Contract for Development Advisor services 9/7/2010 Developers Research Implementation Plan and Strategy MCAS Tustin Y $ 55 Contract for En ineenn & Plannin 8/8/2010 RBF Consultin Plan check and tract ma services MCAS Tustin$ I 56 Contractfor Plannin Services 9/7/2010 SMS Architects Im lementation Plan and Strate MCAS Tustin 43,058 N $ 57 Contract for Engineenng Services 9/7/2010 Hunsaker& Associates Disposition Strategy & mapping services MCAS Tustin N $ Recognized Obligation Payment Schedule (ROPS) 13-14B - ROPS Detail January 1, 2014 through June 30, 2014 (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 TrustFund (Non-RPTTF) RPTTF Contract/Agreement Contract/Agreement Total Outstanding Item# Project Name/ Debt Obligation Obligation Type Execution Date Termination Date PayeeDescription/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds Non -Admin Admin Six -Month Total 58 Contractfor Financial Analysis 1/4/2011 David Taussig & Associates financial advisory services associated MCAS Tustin 12,750 N 6,750 $ 6,750 with determining distribution of assessments associated with background infrastructure costs 59 Newport/SR-55 Gateway Master 9/9/2010 RBF Consulting Preparation of Gateway Master plan MCAS Tustin N $ - plan & landscape Improvements and design of landscape improvements 60 Website Hosting Agreement 12/8/2010 Commpro, LLC Website hosting for the MCAS Tustin MCAS Tustin 3,400 N 1,600 $ 1.600 website Annual 61 Contract for fence repair 6/18/2008 National Construction Fence repairs as needed at MCAS MCAS Tustin Y $ - Rental, Inc Tustin 62 Contract for Maintenance of 11/20/2006 Spectrum Landscaping Maintenance of undeveloped land MCAS Tustin Y $ undeveloped properties Annual 63 Coventry Court Regulatory 9/30/2010 Redevelopment Agency Agency monitors receipt ofpayment in MCAS Tustin N $ - Agreement & Declaration of lieu oftaxes as well as developers Restrictive Covenants and compliance with contractual senior Supplemental Regulatory affordable housing obligations related Agreement to 153 affordable units within the Project. To the extent RPTTF funds are not available to fund this enforceable obligation, then the obligation shall be considered an encumbrance oftue LMIHF. 64 Contract for Environmental Services 11/16/2010 Pacific States Construction of Tustin Ranch Road MCAS Tustin N $ - Phase 1 Grading & Storm Drain (contract may be amended to complete future bond—fated projects) 65 Contract for GeoTech Services 9/7/2010 NMG Construction of Tustin Ranch Road MCAS Tustin N $ - Phase 1 Grading & Storm Drain (contract may be amended to complete future bond— ate d projects) 66 Contract for Construction 5/3/2011 Parsons Transportation Construction management for Tustin MCAS Tustin 349,838 N $ .Management Group Ranch Road Phase 1 and 2 67 Contract for Environmental Services 11/2/2010 Vandermost Consulting Regulatory Agency consulting MCAS Tustin 10,000 N $ 68 3rd Amended Agmtfor 8/28/2012 Employees funded by the Administrative Budget foremployees, All N 125.000 $ 125.000 Reimbursement of Costs and Successor Agency that overhead & legal services needed for City/Admin Agency Operations Loan perform Successor Agency direct administrative operation. The between the SA/City pursuant to activites as needed for Oversight Board ofthe Successor California HSC Section 34177 0) direct administrative Agency to the Tustin Community operations as well as Redevelopment Agency approved the overhead and legal administrative budget on March 13, services. 2012 and the Successor Agency adopted Successor Agency Resolution No. 12-04 on March 20, 2012 approving the Administrative Budget and approved the "Agreement for Reimbursement of Costs and City/Successor Agency Operations Loan". This amountwill fluctuate annually. The Administrative Budget was calculated in accordance with California Health and Safety Code Section 34171(b), 3%ofthe property tax allocated to the Su ccessor Agen cy for FY 2011-2012. Recognized Obligation Payment Schedule (ROPS) 13-14B - ROPS Detail January 1, 2014 through June 30, 2014 (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 TrustFund (Non-RPTTF) RPTTF Contract/Agreement Contract/Agreement Total Outstanding Item# Project Name/ Debt Obligation Obligation Type Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds Non -Admin Admin Six -Month Total 69 3rd Amended Agmtfor 8/28/2012 City of Tustin Phase 2 Tustin Ranch Road All N $ - Reimbursement of Costs and Improvements Project City/Admin Agency Operations Loan between the SA/City pursuant to California HSC Section 34180 (e). 70 Direct Project -related costs Employees that perform Annual Payroll foremployees MCAS Tustin N 112.750 $ 112,750 associated with MCAS Tustin Tax direct project -related supporting Bond Covenanted projects Allocation Bonds, Series 2010 activities for the MCAS (including Salary and Benefits of Tustin Tax Allocation bond - employees) funded projects. 71 Affordable Housing Reimbursement 6/5/2007 City of Tustin Initial Agreement between the City and All N $ - Agreement and First Amendment Agency forthe purpose ofreimbuming Between City and Agency the City for assisting the Agency in carrying out its affordable housing obligations at Tustin Field I & II. 72 South Central Project Area Loan 9/2/2008 City of Tustin Project purposes loan. Amount is South Central N $ - denved from Appendix D of the fourth Five -Year Implementation Plan of the South Central/Town Center Project Areas as adopted on October 5, 2010. Continuation of Loan to Agency on Administrative Agreement adopted by Council on September7, 2010. The amountwas originally loaned to the Agency on September2, 2008. Prior loans to the Agency were fordiffering amounts as needed by project area. 73 Housing Tax Allocation Bonds, City Attomey- Woodmff, project -specific legal services for bond- All N 5,000 $ 5,000 Series 2010 -Legal Services Spradlin & Smart (including related activities identified in Row#1 Stradling Yocca Carlson & Rauch; Remy, Thomas, Moose & Manley; Waters & Company; Jeanette Justus; Arbmster Goldsmith & Delvac LLP; Cappello & Noel LLP; and Kutak Rock) 74 Olson DDA/Arbor Walk -Legal City Attorney-Woodmff, project -specific legal services for All N 5,000 $ 5,000 Services Spradlin & Smart, et al. enforceable obligation activities identified in Rows #12-13 75 Hentage PlaceDDA/Loan City Attorney-Woodmff, project -specific legal services for All N 2,500 $ 2,500 Agreement - Legal Services Spradlin & Smart, et al. enforceable obligation activities identified in Rows #14-15 76 Single and Multi -Family City Attorney - Woodmff, project -specific legal services for All N 2,500 $ 2,500 Rehabilitation Loans - Legal Spradlin & Smart, et al. enforceable obligation activities Services identified in Row #16 77 Town Center Housing Deficit City Attorney - Woodmff, project -specific legal services for Town Center N $ - Reduction Plan -Legal Services Spradlin & Smart, et al. enforceable obligation activities identified in Row #18 711 Tax Allocation Refunding Bonds City Attomey- Woodmff, project -specific legal services for bond- Town Center N 2,500 1998 (Town Center) -Legal Spradlin & Smart, et al. related activities identified in Row#19 Recognized Obligation Payment Schedule (ROPS) 13-14B - ROPS Detail January 1, 2014 through June 30, 2014 (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 TrustFund (Non-RPTTF) RPTTF Contract/Agreement Contract/Agreement Total Outstanding Item# Project Name/ Debt Obligation Obligation Type Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds Non -Admin Admin Six -Month Total 79 Stevens Square Parking Garage City Attomey-Woodmff, project -specific legal services for Town Center N 20,000 $ 20,000 Declaration of Covenants, Spradlin 8. Smart, et al. enforceable obligation activities Conditions, Restrictions and identified in Rows #22-23 Reservations - Legal Services 80 Ambrose Lane/First Time City Attorney - Woodmff, project -specific legal services for Town Center N 2,500 $ 2,500 Homebuyer -Legal Services Spradlin 8. Smart, et al. enforceable obligation activities identified in Rows #24-25 81 Tustin Grove - Legal Services City Attorney - Woodmff, project -specific legal services for South Central N 2,500 $ 2,500 Spradlin 8. Smart, et al. enforceable obligation activities identified in Rows #4647 82 Tax Allocation Bonds - MCAS City Attorney - Woodmff, project -specific legal services for bond -MCAS Tustin N 25,000 $ 25.000 Tustin, Senes 2010 - Legal Services Spradlin 8. Smart, et al. related activities identified in Row# 48 83 Lease between the USA and the City Attomey- Woodmff, project -specific legal services for MCAS Tustin N $ - City of Tustin for Portions ofthe Spradlin 8. Smart, et al. enforceable obligation activities Former Marne Corps Air Station identified in Row #51 Tustin - Legal Services 84 Lease between the USA and the City Attomey- Woodmff, project -specific legal services for MCAS Tustin N $ - City of Tustin for Parcel 22 of the Spradlin 8. Smart, et al. enforceable obligation activities Former Marne Corps Air Station identified in Row #52 85 Economic Development City Attorney-Woodmff, project -specific legal services for MCAS Tustin N 25,000 $ 25,000 Conveyance (EDC) Application for Spradlin 8. Smart, et al. enforceable obligation activities Marne Corps Air Station (MCAS) identified in Row #53 Tustin as Amended - Legal Services 86 Coventry Court Regulatory City Attomey- Woodmff, project -specific legal services for MCAS Tustin N 2,500 $ 2,500 Agreement 8. Declaration of Spradlin 8. Smart, et al. enforceable obligation activities Restnctive Covenants and identified in Row #63 Supplemental Regulatory Agreement - Legal Services 87 Affordable Housing Reimbursement City Attorney-Woodmff, project -specific legal services for All N $ - Agreement and Affordable Housing Spradlin 8. Smart, et al. enforceable obligation activities DDAs - Legal Services identified in Row #71 88 Contract for Maintenance 8. Erosion 12/7/2010 So Cal Sandbags In accordance with the Economic MCAS Tustin N $ - Control Development Conveyance Agreement, maintenance of undeveloped portions of the former Marne Corps Air Station, including erosion control 89 Office Lease Agreement 3/1/2007 6,30,2016 PK Larwin Square SC LP Office Lease for Successor Agency All N $ Operations $ $ $ $ $ .. ,. aaaaaaaaaaaaaaaaaaaaaaaaaa� . Report.th Sbfbt Atljuebnents Rewgnistl Obligation Payment Schetlule 3)Pb13-P.— Repodetl for the ROM III (January 1, 2013 [M1r.ugM1 Jure 30, 2013) Period P-dd)l1. HeattM1 and Safety Cade (HSC) cection 34186 (a) (Report Anoun[s n Vdn lays) RODS H S..—Ag­ (SA) S­b,,rtetl Prior Periotl Ntljuebnenh(PPA): Pu1-1 to HSC Section 34186(,1), S4s are -.i t.bpod tM1edi lbbbs beM ,-ir actual available funding andtM1eiractual expenditures forthe ROM III (Julyth—gh December 2013) period.TM amount of Red—p—Pr dy Tax Trus Fund ROPS III CNC PPN: To be completed by thb CNC upon submM1tal ofthb ROP513-14B by thb SN to Finance and thb (RPTTF)approvetl f.rthe ROM 111413(Januaryth—gh June 2014) peri.d will be.ffrel by SN'b-rep.ded ROM III prior period atlj-1HSC$eC1Yn 34186(.)—speclgesthblthb prior period adjus[rrenls cell-repoded by SA, are object t, audft bytM1e c... ty,1Wil. bb.Iler(GAG)aM the 51a1e Controller. CAC D Non-RPT1F . dituree RP— Ex-dit.,- tl(Intl NIIA' NI" Roj- Name/Or.L1 A red N RO A.—i-ne) aIII Av n3N35,]53 (1(M ilex rao)en« (ROP5111 tlistriburatl a -13) A (If RlOsess Nan$ �re)ce m Off (If V Is0lesseNan W, q�(o eT)) dro)nce (o (IfMZl Nan rtrer'nc m OR e9u neeMR)PTr Shur $ Shut 81. ] SAu1 S 1 SNa 53 8 s 3N35,]53 8 66 8 ] SAS ] S ] s M.] 121,0% 40 R—fig— ension, 1,000 $ $ $ $ - S1,000 ension, $ $ $ $ $ $ $ $ Ou 47 H—ng DDA 4d T -n, -.201 997413 997413 ees-I—nd 41 2010 50 Ciy ofTustin for Portions of e p 11 Ciy of Tustin for Farce1n22 rine p $ $ $ $ $ $ $ $ ce (E9C) Ppplica 53 (MCAS)—n a—eneee g g o S 1 8 $ $ - $9,179 9 9 20,000 S 0 p 31,6119 9 8 2 S $ $ - $3,677 ting 1preement 0 8 0 1200 1200 S 0 p, pel AreeDed 63 AgrpeementNlR9 nronmenN $ $ $ $ $ $ $ $ 600,000 330,617 nronmen $ $ S $ $ $ $ $ City/Atlnin Agency Cperaeons . 6,1 ]]6)rna Hsc $ $MW 211,H1 267,837 121,094 146,.3 city/Aen;n Agemyoperaeo a aciry so I(e'ma H6C �ery)ane101". 32,020 aaaaaaaaaaaaaaaaaaaaaaaaaa�