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Home My WebLink About04 ROPSAgenda Item 4 AGENDA REPORT Oversight Board of the Successor Agency to the Tustin Community Redevelopment Agency MEETING DATE: JANUARY 26, 2016 SUBJECT/ACTION: ADOPT OVERSIGHT BOARD RESOLUTION NO. 16-01, APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE 16-17 FOR THE PERIOD OF JULY 2016 THROUGH JUNE 2017 RECOMMENDATION / PROPOSED ACTION It is recommended the Oversight Board of the Successor Agency to the Tustin Community Redevelopment Agency adopt Oversight Board Resolution No. 16-01, approving the Recognized Obligation Payment Schedule 16-17 ("ROPS 16-17") for the period of July 1, 2016 through June 30, 2017, and authorize submission of ROPS 16-17 to the Department of Finance ("DoF") by February 1, 2016, 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 DoF from ROPS 16-17; and b) Should any subsequent modifications be required to ROPS 16-17, 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"), required the Successor Agency to prepare a Recognized Obligation Payment Schedule (ROPS) every six months. With the September 2015 passage of SB 107, HSC Section 34177 was amended to add 34177(0), revising the number of ROPS required during a fiscal year from two (2) six-month schedules to one (1) twelve month schedule. HSC Section 34177(o)(1)(E), does allow the Successor Agency to amend the ROPS once during the one-year period, as long as it occurs before October 1St These requirements became effective on January 1, 2016. Agenda Report January 26, 2016 Page 2 As a result, the Successor Agency has prepared ROPS 16-17 for the period of July 1, 2016 through June 30, 2017. ROPS 16-17 lists all enforceable obligations that are legally binding and enforceable agreements or contracts of the former Tustin Community Redevelopment Agency including those necessary for the continued administration of the Successor Agency to wind down the former Agency. Pursuant to HSC Section 34177(I)(2)(B)), the Successor Agency is 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. 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 16-17 includes a report of Cash Balances, which includes the expenditures for ROPS 15-16A during the period of July 1, 2015 through December 31, 2015. 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 submission to the DoF by February 1, 2016. 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. 16-01 OVERSIGHT BOARD RESOLUTION NO. 16-01 A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE 16-17 ("ROPS 16-17") 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 16-01 Page 1 of 3 On January 19, 2016, the Successor Agency approved the Recognized Obligation Payment Schedule 16-17 ("ROPS 16-17") for the period of July 1, 2016 through June 30, 2017; and The Oversight Board has duly considered all other related matters and has determined that the Board's approval of ROPS 16-17 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 16-17 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 26th day of January, 2016. 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 16-01 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. 16-01 was duly passed and adopted at a regular meeting of the Oversight Board, held on the 26th day of January, 2016, 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 16-17 (July 2016 — June 2017) Oversight Board Resolution 16-01 Page 3 of 3 ATTACHMENT NO. 1 RECOGNIZED OBLIGATION PAYMENT SCHEDULE 16-17 (July 2016 — June 2017) Successor Agency: County: Tustin Oran Recognized Obligation Payment Schedule (ROPS 16-17) - Summary Filed for the July 1, 2016 through June 30, 2017 Period Certification of Oversight Board Chairman: Pursuant to Section 34177 (o) of the Health and Safety code, I hereby certify that the above is a true and accurate Recognized Obligation Payment Schedule for the above named successor agency. /s/ Name Signature Title Date ROPS 16-17 Current Period Requested Funding for Enforceable Obligations (ROPS Detail) 16-17A Total 16-17B Total Total Enforceable Obligations Funded with Non -Redevelopment Property Tax Trust Fund (RPTTF) Funding A Sources (B+C+D): $ 3,314,442 $ 1,571,065 $ 4,885,507 B Bond Proceeds Funding - - - C Reserve Balance Funding - - - D Other Funding 3,314,442 1,571,065 4,885,507 E Enforceable Obligations Funded with RPTTF Funding (F+G): $ 594,393 $ 5,935,305 $ 6,529,698 F Non -Administrative Costs 594,393 5,935,305 6,529,698 G Administrative Costs - - - H Current Period Enforceable Obligations (A+E): $ 3,908,835 $ 7,506,370 $ 11,415,205 Certification of Oversight Board Chairman: Pursuant to Section 34177 (o) of the Health and Safety code, I hereby certify that the above is a true and accurate Recognized Obligation Payment Schedule for the above named successor agency. /s/ Name Signature Title Date Tustin Recognized Obligation Payment Schedule (ROPS 16.17) - ROPS Detail July 1, 2016 through June 30, 2017 (Report Amounts in Whole Dollars A B C D E F G H I J K L M N O P Q R S T U V W 16-17A Non -Redevelopment Property Tax Trost Fund Non -Redevelopment Property Tax Trost Fund Non-RPTTF RPTTF Non-RPTTF RPTTF Contract/Agreement Contract/Agreement Total Outstanding ROPS 16-17 16-17A 16-17B Item # Project Name/Debt Obligation Obligation Type Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Total Bond Proceeds Reserve Balance Other Funds Non -Admin Admin Total Bond Proceeds Reserve Balance Other Funds Non -Admin Admin Total $ 135,337,965 $ 11,415,205 $ - $ - $ 3,314,442 $ 594,393 $ - $ 3,908,835 $ - $ 1,571,065 $ 5,935,305 $ - $ 7,506,370 1 Housing Tax Allocation Bonds Bonds Issued On or Before 3/1/2010 9/1/2039 Bondholders via The Bank Proceeds from the sale of the Bonds All 33,411,334 N $ 1,808,107 1319704 $ 1,319,704 488 403 $ 488,403 2 Fiscal Agent Fees -TA Bond 2010 Fees 1/19/2010 9/1/2039 The Bank of New York administration of bond activities [paid All 35,000 N $ 3,300 $ - 3,300 $ 3,300 Mellon annually] 3 Continuing disclosure services & Fees 1/19/2010 9/1/2039 Applied Best Practices, Continuing disclosure services for All 70,000 N $ 5,900 2,900 $ 2,900 3,000 $ 3,000 arbitrage services WIldan & Associates 2010 Housing bonds and arbitrage services. 8 PERS liability (annually adjusted) Unfunded Liabilities 7/1/2014 6/30/2015 City of Tustin Employees funded by the Successor All 140,000 N $ - $ - $ - Agency that perform Successor Agency activities. The liability is reviewed annually and may increase or decrease based on a variety of economic and actuarial assumptions. 18 Town Center Housing Deficit SERAF/ERAF 5/1/2000 6/30/2015 Agency's Town Center Repayment for 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. 19 Tax Allocation Refunding Bonds Bonds Issued On or Before 7/1/1998 12/1/2016 Bondholders via US Bank Bond issue to fund non -housing Town Center - N $ - $ - $ - 1998 (Town Center) 12/31/10 projects. Total outstanding debt includes principal and interest. 201 Fiscal Agent Fees -TA Bond 1998 Fees 1/19/2010 12/1/2016 US Bank administration of bond activities Town Center N $ $ $ 21 Continuing disclosure & arbitrage Fees 1/19/2010 12/1/2016 Applied Best Practices, Continuing disclosure & arbitrage Town Center - N $ - $ - $ - services WIldan&Associates services for 1998 bonds 23 Stevens Square Parking Garage Property Maintenance 6/17/1988 6/30/2015 Stevens Square Parking There are ongoing maintenance costs Town Center - N $ - $ - $ - Declaration of Covenants, Structure Condominium as required by the CC&Rs. In Conditions, Restrictions and Association addition, there are one-time, deferred Reservations maintenance repairs that will be determined by the structural engineering assessment. The costs associated with ongoing maintenance and deferred maintenance repairs are estimates. 35 Public Works Agreement/South City/County Loans On or 06/07/1993 06/30/2030 City of Tustin uWal Loan amount to the Agency in South Central 25,934,993 N 5,190,371 5,190,371 Central Redevelopment Project Before 6/27/11 1993 was initially estimated to be $33,500,000 for the Newport Avenue Extension (Newport Underpass) to Edinger Avenue. The interest rate is .5% above the City's average yield on investments. Repayment ofthe loan is based on City -funded Phase 1 work (Capital Improvement Program -CIP 70130)that has been completed on the Newport Avenue Extension/SR-55 North Bound Ramp Reconfiguration Project. The Phase 1 project began in 1993 and was completed in March 2010. Phase 1 (CI P 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 Work ofthe Public Works 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 ofthe actual increased costs of the project. 48 Tax Allocation Bonds - MCAS Bonds Issued On or Before 11/1/2010 9/1/2040 Bondholders via The Ban Bond issue to fund non -housing MCAS 69,666,638 N $ 2,809,300 1,863,938 $ 1,863,938 945,362 $ 945,362 Tustin, Series 2010 12/31/10 of New York Mellon projects. Total outstanding debt includes principal and interest. 49 Fiscal Agent Fees -TA Bond 2010 Fees 9/7/2010 9/1/2040 The Bank of New York administration of bond activities MCAS 60,000 N $ 3,000 $ - 3,000 $ 3,000 Mellon 50 Continuing disclosure services & Fees 9/7/2010 9/1/2040 Applied Best Practices, Continuing disclosure services for MCAS 120,000 N $ 5,900 2,900 $ 2,900 3,000 $ 3,000 arbitrage services WIldan & Associates 2010 MCAS bonds & arbitrage services Tustin Recognized Obligation Payment Schedule (ROPS 16.17) - ROPS Detail July 1, 2016 through June 30, 2017 (Report Amounts in Whole Dollars A B C D E F G H I J K L M N O P Q R S T U V W 16-17A Non-Redevelopment Property Tax Trost Fund Non-Redevelopment Property Tax Trost Fund Non-RPTTF RPTTF Non-RPTTF RPTTF Contract/Agreement Contract/Agreement Total Outstanding ROPS 16-17 16-17A 16-176 Item # Project Name/Debt Obligation Obligation Type Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Total Bond Proceeds Reserve Balance Other Funds Non-Admin Admin Total Bond Proceeds Reserve Balance Other Funds Non-Admin Admin Total 51 Lease between the USA and the Property Maintenance 5/13/2002 9/1/2040 Redevelopment Agency Property Management, Maintenance, MCAS - N $ - $ - City of Tustin for Portions of the Environmental Remediation, and Real Former Marine 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 with asset management and disposal under the LI FOC are listed in Row #7. Contractual response costs for all other responsibilities under the LIFOC Agreement will be as they are incurred and as requested by the Department of Navy. 52 Lease between the USA and the Property Maintenance 6/16/2004 9/1/2040 Redevelopment Agency Property Management, Maintenance, MCAS - N $ - $ - - City of Tustin for Parcel 22 ofthe Environmental Remediation, and Real Former Marine 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 with asset management and disposal under the LI FOC are listed in Row #7. Contractual response costs for all other responsibilities under the LIFOC Agreement will be as they are incurred and as requested by the Department of Navy. 53 Economic Development Property Maintenance 5/13/2002 9/1/2040 Redevelopment Agency Obligations of City required by Navy in MCAS - N $ - $ - $ - Conveyance (EDC) Application for the conveyance of the property under Marine Corps Air Station (MCAS) the Reuse Plan adopted in 2002. Tustin as Amended This includes asset management and disposal, property management and remediation. Direct project related staffing costs associated with asset management and disposal under the EDC are listed in Row V. Contractual response costs for all other responsibilities under the EDC Agreement will be as they are incurred and as requested by the Department of Navy. 58 Contract for Financial Analysis Professional Services 1/4/2011 6/30/2015 David Taussig & financial advisory services associated MCAS - N $ - $ - $ - Associates with determining distribution of assessments associated with background infrastructure costs 67 Contract for Environmental Professional Services 11/2/2010 6/30/2015 Vandermost Consulting Regulatory Agency consulting MCAS N $ $ $ 68 10th Amended Agmt for Admin Costs 8/28/2012 6/30/2016 Employees funded by the Administrative Budget for employees, All 250,000 N $ 250,000 125,000 $ 125,000 125,000 $ 125,000 Reimbursement of Costs and Successor Agency that overhead & legal services needed for City/Admin Agency Operations perform Successor Agency direct administrative operation. The Loan between the SA/City pursuant activites as needed for Oversight Board of the Successor to California HSC Section 34177 Q) 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 amount will fluctuate annually. The Adminstrative Budget was calculated in accordance with California Health and Safety Code Section 34171(b), 3% of the property tax allocated to the Successor Agency for FY 2011-2012. 71 Affordable Housing Reimbursement City/County Loans On or 06/05/2007 06/30/2030 City of Tustin Initial Agreement between the City All N Agreement and First Amendment Before 6/27/11 and Agency for the purpose of Between City and Agency reimbursing the City for assisting the Agency in carrying out its affordable housing obligations at Tustin Field I & Tustin Recognized Obligation Payment Schedule (ROPS 16.17) - ROPS Detail July 1, 2016 through June 30, 2017 (Report Amounts in Whole Dollars A B C D E F G H I J K L M N O P Q R S T U V W 16-17A Non -Redevelopment Property Tax Trost Fund Non -Redevelopment Property Tax Trost Fund Non-RPTTF RPTTF Non-RPTTF RPTTF Contract/Agreement Contract/Agreement Total Outstanding ROPS 16-17 16-17A 16-176 Item # Project Name/Debt Obligation Obligation Type Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Total Bond Proceeds Reserve Balance Other Funds Non -Admin Admin Total Bond Proceeds Reserve Balance Other Funds Non -Admin Admin Total 2 South Central Project Area Loan City/County Loans On or 09/02/2 06/30/203 City of Tustin Project purposes loan. Amount is South Central 4,650,000 N 1,169,327 584,393 4,393 4 Before 6/27/11 derived from Appendix D of the fourth Five -Year Implementation Plan ofthe South Central/Town Center Project Areas as adopted on October 5, 2010. Continuation of Loan to Agency on Administrative Agreement adopted by Council on September 7, 2010. The amount was originally loaned to the Agency on September 2, 2008. Prior loans to the Agency were for differing amounts as needed by project area. 73 Housing Tax Allocation Bonds, Legal 7/1/2014 6/30/2015 City Attorney- Woodruff, project -specific legal services for All 200,000 N $ 10,000 5,000 $ 5,000 5,000 S 5,000 Series 2010 - Legal Services Spradlin & Smart (including bond -related activities identified in Stradling Yocca Carson & Row #1 Rauth; Remy, Thomas, Moose & Manley; Waters & Company, Jeanette Justus, Arbruster Goldsmith & Delvac LLP; Cappello & Noel LLP; and Kutak Rock) 78 Tax Allocation Refunding Bonds Legal 7/1/2014 6/30/2015 City Attorney- Woodruff, project -specific legal services for Town Center - N $ - $ - S - 1998 (Town Center)- Legal Spradlin & Smart, at al. bond -related activities identified in Services Row #19 82 Tax Allocation Bonds -MCAS Legal 7/1/2014 6/30/2015 City Attorney - Woodruff, project -specific legal services for MCAS 200,000 N $ 10,000 5,000 $ 5.000 .,.,.,. $ 5,000 Tustin, Series 2010 - Legal Spradlin & Smart, at al. bond -related activities identified in Services Row# 48 83 Lease between the USA and the Legal 01/01/2014 06/30/2014 City Attorney - Woodruff, project -specific legal services for MCAS N City of Tustin for Portions of the Spradlin & Smart, at al. enforceable obligation activities Former Marne Corps Air Station identified in Row #51 Tustin -Legal Services 84 Lease between the USA and the Legal 01/01/2014 06/30/2014 City Attorney - Woodruff, project -specific legal services for MCAS N City of Tustin for Parcel 22 ofthe Spradlin & Smart, at al. enforceable obligation activities Former Marne Corps Air Station identified in Row #52 85 Economic Development Legal 7/1/2014 6/30/2015 City Attorney- Woodruff, project -specific legal services for 1'1CAS - N $ - $ - $ - Conveyance (EDC) Application for Spradlin & Smart, at al. enforceable obligation activities Marne Corps Air Station (MCAS) identified in Row #53 Tustin as Amended - Legal Services 90 Housing Entity Administrative Cost Housing Entity Admin Cost 07/01/2014 06/30/2018 ousing Authority Pursuant to AB 471, filed Feb 18, All 600,000 N 150,000 150,000 150,000 Allowance 2014, housing administrative cost allowance for the Tustin Housing Authority which assumed the housing duties ofthe former Tustin Community Redevelopment Agency 92 Successor Agency Property Property Maintenance 1/1/2015 6/30/2016 Lavin Fence Company Pursuant to HSC Section 34171 (b) South Central - N $ - $ - $ - Maintenance - Fence Repair, and (d)(1)(F), Edinger Avenue fence Edinger Avenue Parcels repairs for an Agency asset prior to disposition 93 Successor Agency Property Property Maintenance 1/1/2015 6/30/2016 City of Tustin Pursuant to HSC Section 34171 (b) Town Center - N $ - $ - $ - Maintenance - Fence Repair, and (dx1)(F), Stevens Square Parking Stevens Square Parking Structure Structure fence repair for an Agency asset priorto disposition 94 Superior Court Case 34-2013- Litigation 1/1/2013 6/30/2017 City Attorney - Woodruff, Pursuant to HSC Section 34171(b) All - N $ - $ - $ - 80001623, Successor Agency v. Spradlin & Smart, at al. and (dx1)(F), litigation expenses Matosantos - Legal Services associated with Superior Court Case 34-2013-80001623 and subsequent Appeal in the Third Appellate District, Case 34201380001623CUWMGDS 95 Superior Court Case 34-2015- Litigation 1/1/2014 6/30/2018 City Attorney - Woodruff, Pursuant to HSC Section 34171 (b) All - N $ - $ - $ - 800002046; Successor Agency v. Spradlin & Smart, at al. and (dx1)(F), litigation expenses Cohen - Legal Services associated with Superior Court Case 34-2015-800002046 96 N $ $ $ 97 N $ $ $ 98 N $ $ $ 99 N $ $ $ 100 N $ $ $ 101 N $ $ $ 102 N $ $ $ 103 N $ $ $ 104 N $ $ $ 105 N $ $ $ 106 N $ $ $ 107 N $ $ $ 108 N $ $ $ 109 N $ $ $ 1101 N $ $ $ 111 N $ $ $ 112 N $ $ $ 113 N $ $ $ 114 N $ $ $ 115 N $ $ $ 116 N $$ $ 117 N $ $ $ Tustin Recognized Obligation Payment Schedule (ROPS 16-17) - Report of Cash Balances (Report Amounts in Whole Dollars) Pursuant to Health and Safety Code section 34177 (1), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obligation. For tips on how to complete the Report of Cash Balances Form, see CASH BALANCE TIPS SHEET A B C D E I F G H I Fund Sources Bond Proceeds Reserve Balance Other RPTTF Prior ROPS Prior ROPS period balances RPTTF Bonds issued on and DDR RPTTF distributed as Rent, Non -Admin or before Bonds issued on balances reserve for future grants, and Cash Balance Information by ROPS Period 12/31/10 or after 01/01/11 1 retained period(s) I interest, etc. Admin Comments ROPS 15-16A Actuals (07/01/15 - 12/31/15) 1 Beginning Available Cash Balance (Actual 07/01/15) 5,052,523 537,078 2 Revenue/Income (Actual 12/31/15) RPTTF amounts should tie to the ROPS 15-16A distribution from the RPTTF distribution received during June County Auditor -Controller during June 2015 4,112,692 - 20 2015. 3 Expenditures for ROPS 15-16A Enforceable Obligations (Actual 12/31 /15) 5,032,454 - 4 Retention of Available Cash Balance (Actual 12/31/15) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 5 ROPS 15-16A RPTTF Balances Remaining No entry required 6 Ending Actual Available Cash Balance C to G = (1 + 2 - 3 - 4), H = (1 + 2 - 3 - 4 - 5) $ _ $ _ $ J $ - $ 4,132,761 $ 537,078 ROPS 15-16B Estimate (01/01/16 - 06/30/16) 7 Beginning Available Cash Balance (Actual 01/01/16) (C, D, E, G = 4 + 6, F = H4 + F4 + F6, and H = 5 + 6) $ _ $ _ $ _ $ - $ 4,132,761 $ 537,078 8 Revenue/Income (Estimate 06/30/16) Other revenue includes rents projected to be RPTTF amounts should tie to the ROPS 15-16B distribution from the collected by the Successor Agency. The City will County Auditor -Controller during January 2016 be transferrring to the Successor Agency $4,101,171 in December 2016 as part of its 7,500 893,703 Settlement Agreement with the DOF. 9 Expenditures for ROPS 15-16B Enforceable Obligations (Estimate These expenditures were approved to be spent 06/30/16) from RPTTF funds prior to the City's agreement with the DOF. As funding for these expenditures will now be provided through the City's December 2016 scheduled transfer of $4.1 million, we are including these expenditures 1,519,824 under 'Other" funding sources. 10 Retention of Available Cash Balance (Estimate 06/30/16) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 11 Ending Estimated Available Cash Balance (7 + 8 -9 -10) $ - $ - $ - $ - $ 2,620,437 $ 1,430,781 Tustin Recognized Obligation Payment Schedule (ROPS 16-17) - Notes July 1, 2016 through June 30, 2017 Item # Notes/Comments 35 This enforceable obligation is pending Superior Court Case 34-2015-800002046; Successor Agency v. Cohen 72 This enforceable obligation is pending Superior Court Case 34-2015-800002046; Successor Agency v. Cohen 90 This enforceable obligation is pending Superior Court Case 34-2015-800002046; Successor Agency v. Cohen