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RSA Rops Staff Report AGENDA ITEM________ MEETING DATE: January 9, 2018 TO: Chair and Redevelopment Successor Agency Board FROM: Kim Szczurek, Administrative Services Director SUBJECT: Approval of Recognized Obligation Payment Schedule (ROPS) for July 1, 2018 – June 30, 2019 APPROVED BY_______________________________ Jeff Loux, Executive Director RECOMMENDATION: Adopt Resolution 2018-01 approving the Recognized Obligation Payment Schedule for the period July 1, 2018 – June 30, 2019. DISCUSSION: The Successor Agency is required to submit an approved ROPS for July 1, 2018 – June 30, 2019 to the Department of Finance by February 1, 2018. The ROPS is required to be approved by the Truckee Successor Agency and the Oversight Board and lists the obligations of the former redevelopment agency. It is proposed that the ROPS(s) be approved by the Successor Agency and submitted to the Department of Finance and other appropriate agencies. The Successor Agency Oversight Board will be reviewing the Successor Agency Approved ROPS(s) at their January 25, 2018 meeting. FISCAL IMPACT: None. PUBLIC COMMUNICATIONS: Agenda Posting. ATTACHMENTS: Attachment A - Resolution 2018-01 Attachment B - ROPS for the period July 1, 2018 – June 30, 2019 Town of Truckee Successor Agency California RESOLUTION 2018-01 A RESOLUTION OF THE TOWN OF TRUCKEE SUCCESSOR AGENCY APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR FISCAL YEAR 201 8-19 WHEREAS, the Truckee Successor Agency is required to periodically approve the Recognized Obligation Payment Schedule (ROPS) for the Town of Truckee Successor Agency; and WHEREAS, the Town of Truckee Successor Agency reviewed the Town of Truckee Successor Agency ROPS at the January 9, 2018 meeting ******* NOW THEREFORE, BE IT RESOLVED THAT THE TOWN OF TRUCKEE SUCCESSOR AGENCY hereby approves the ROPS for Fiscal Year 2018-19. The foregoing Resolution was introduced by Board Member _____________, seconded by Board Member ______________, at a Meeting of the Truckee Redevelopment Successor Agency Board, held on the 9th day of January, 2018 and adopted by the following vote: Ayes : Noes: Absent: ________________________________ Carolyn Wallace Dee, Chair ATTEST: ______________________________ Judy Price, MMC, Board Secretary Successor Agency:Truckee County:Nevada Current Period Requested Funding for Enforceable Obligations (ROPS Detail) 18-19A Total (July - December) 18-19B Total (January - June) ROPS 18-19 Total A -$ -$ -$ B - - - C - - - D - - - E 568,396$ 435,534$ 1,003,930$ F 443,396 310,534 753,930 G 125,000 125,000 250,000 H Current Period Enforceable Obligations (A+E):568,396$ 435,534$ 1,003,930$ Name Title /s/ Signature Date Recognized Obligation Payment Schedule (ROPS 18-19) - Summary Filed for the July 1, 2018 through June 30, 2019 Period Enforceable Obligations Funded as Follows (B+C+D): RPTTF Redevelopment Property Tax Trust Fund (RPTTF) (F+G): Bond Proceeds Reserve Balance Other Funds Administrative RPTTF 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. A B C D E F G H I J K L M N O P Q R S T U V W Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF $ - $ 1,003,930 $ - $ - $ - $ 443,396 $ 125,000 $ 568,396 $ - $ - $ - $ 310,534 $ 125,000 $ 435,534 1 2010 Bonds - Series A Bonds Issued On or Before 2/9/2010 9/1/2040 Wells Fargo Bank Bonds issued to fund non-housing N $ 589,338 363,350 $ 363,350 225,988 $ 225,988 2 2010 Bonds - Series b Bonds Issued On or Before 12/31/10 2/9/2010 9/1/2040 Wells Fargo Bank Bonds issued to fund non-housing projects N $ 159,592 79,796 $ 79,796 79,796 $ 79,796 3 Professional Services Admin Costs 9/10/2013 1/1/2099 Best Best and Kreiger legal costs to support SA/oversight bd N $ 500 250 $ 250 250 $ 250 4 Professional Services Professional Services 9/10/2013 1/1/2099 JNA Consulting financial advisor re: RDA bonds & options N $ 1,000 $ - 1,000 $ 1,000 5 Program Administration Professional Services 9/10/2013 9/10/2015 Joanne Anders administration of loan programs N 6 Professional Services Legal 9/10/2013 9/10/2015 Orrick Herrington legal costs to support bond calculations N 8 Sublease of Real Property Agreement Improvement/Infrastructure 10/1/2009 7/1/2045 Custom Cafes, Inc.Obligation to Operate Public Parking Lot N 17 SA Employee Costs Admin Costs 1/1/2014 6/30/2019 Town of Truckee Payroll Costs N $ 220,000 110,000 $ 110,000 110,000 $ 110,000 18 Other SA Admin Costs Admin Costs 1/1/2014 6/30/2019 Town of Truckee administrative costs N $ 30,000 15,000 $ 15,000 15,000 $ 15,000 21 Bond Trustee Fees Fees 2/9/2010 9/1/2040 Zions Bank Bond Trustee Fees to administer bonds N $ 3,500 $ - 3,500 $ 3,500 22 N $ - $ - $ - 23 N $ - $ - $ - 24 N $ - $ - $ - 25 N $ - $ - $ - 26 N $ - $ - $ - 27 N $ - $ - $ - 28 N $ - $ - $ - 29 N $ - $ - $ - 30 N $ - $ - $ - 31 N $ - $ - $ - 32 N $ - $ - $ - 33 N $ - $ - $ - 34 N $ - $ - $ - 35 N $ - $ - $ - 36 N $ - $ - $ - 37 N $ - $ - $ - 38 N $ - $ - $ - 39 N $ - $ - $ - 40 N $ - $ - $ - 41 N $ - $ - $ - 42 N $ - $ - $ - 43 N $ - $ - $ - 44 N $ - $ - $ - 45 N $ - $ - $ - 46 N $ - $ - $ - 47 N $ - $ - $ - 48 N $ - $ - $ - 49 N $ - $ - $ - 50 N $ - $ - $ - 51 N $ - $ - $ - 52 N $ - $ - $ - 53 N $ - $ - $ - 54 N $ - $ - $ - 55 N $ - $ - $ - 56 N $ - $ - $ - 57 N $ - $ - $ - 58 N $ - $ - $ - 59 N $ - $ - $ - 60 N $ - $ - $ - 61 N $ - $ - $ - 62 N $ - $ - $ - 63 N $ - $ - $ - 64 N $ - $ - $ - 65 N $ - $ - $ - 66 N $ - $ - $ - 67 N $ - $ - $ - 68 N $ - $ - $ - 69 N $ - $ - $ - 70 N $ - $ - $ - 71 N $ - $ - $ - 72 N $ - $ - $ - 73 N $ - $ - $ - 74 N $ - $ - $ - 75 N $ - $ - $ - 76 N $ - $ - $ - 77 N $ - $ - $ - 78 N $ - $ - $ - 79 N $ - $ - $ - 80 N $ - $ - $ - 81 N $ - $ - $ - 82 N $ - $ - $ - 83 N $ - $ - $ - 84 N $ - $ - $ - 85 N $ - $ - $ - 86 N $ - $ - $ - 87 N $ - $ - $ - 88 N $ - $ - $ - 89 N $ - $ - $ - 90 N $ - $ - $ - 91 N $ - $ - $ - 92 N $ - $ - $ - Truckee Recognized Obligation Payment Schedule (ROPS 18-19) - ROPS Detail July 1, 2018 through June 30, 2019 (Report Amounts in Whole Dollars) Item #Payee Description/Project Scope Project Area Total Outstanding Debt or Obligation Retired 18-19A (July - December) 18-19B Total Project Name/Debt Obligation Obligation Type Contract/Agreement Execution Date Fund Sources Fund Sources Contract/Agreement Termination Date ROPS 18-19 Total 18-19B (January - June) 18-19A Total A B C D E F G H I Other RPTTF Bonds issued on or before 12/31/10 Bonds issued on or after 01/01/11 Prior ROPS period balances and DDR RPTTF balances retained Prior ROPS RPTTF distributed as reserve for future period(s) Rent, grants, interest, etc. Non-Admin and Admin 1 Beginning Available Cash Balance (Actual 07/01/15) 24,576 15,896 2 Revenue/Income (Actual 06/30/16) RPTTF amounts should tie to the ROPS 15-16 total distribution from the County Auditor-Controller during June 2015 and January 2016. 4,105 1,066,229 3 Expenditures for ROPS 15-16 Enforceable Obligations (Actual 06/30/16) 24,576 1,030,190 4 Retention of Available Cash Balance (Actual 06/30/16) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 5 ROPS 15-16 RPTTF Balances Remaining No entry required 6 Ending Actual Available Cash Balance (06/30/16) C to G = (1 + 2 - 3 - 4), H = (1 + 2 - 3 - 4 + 5) -$ -$ -$ -$ 4,105$ 51,935$ Truckee Recognized Obligation Payment Schedule (ROPS 18-19) - Report of Cash Balances July 1, 2015 through June 30, 2016 (Report Amounts in Whole Dollars) Pursuant to Health and Safety Code section 34177 (l), 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 Fund Sources Comments Bond Proceeds Reserve Balance Cash Balance Information for ROPS 15-16 Actuals (07/01/15 - 06/30/16) Item #Notes/Comments 21 New payee (trustee) for 2010 bond issuance is Zions Bank, which will charge a lower fee for annual trustee services Truckee Recognized Obligation Payment Schedule (ROPS 18-19) - Notes July 1, 2018 through June 30, 2019