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Home My WebLink AboutFirst Amended Lake Elsinore ROPS - Period July 2012 - December 2012 2012-06-12Name of Successor Agency: Successor Agency to the Redevelopment Agency of the City of Lake Elsinore Page 1 of 4 Pages Project Area(s) RDA Project Area All FIRST AMENDED RECOGNIZED OBLIGATION PAYMENT SCHEDULE JULY 2012 THROUGH DECEMBER 2012 Per AB 26 - Section 34177 (•) Project Name / Debt Obligation Contract/Agreement Execution Date Payee Description Pro'ecl Area Total Outstanding Debt or Obligation Total Due During Fiscal Year 2012 - 2013" Funding Source Payable from the Redevelopment Property Tax Trust Fund ( RPTTF) Payments by month Jul 2012 Aug 2012 Sep 2012 Oct 2012 Nov 2012 Dec 2012 Total 1 Tax Allocation Revenue Bonds, 2010 Series A 1- Feb-10 Union Bank, N.A. Bond Issue to fund housing & non-housing All 27,247,135.47 989,081.26 RPTTF 0.00 651,865.63 0.00 0.00 0.00 0.00 $ 651,865.63 2 Tax Allocation Revenue Bonds, 2010 Series B 1-Ma -10 Union Bank, N.A. Bond issue to fund housinq prolects Housing 12,936,687.52 931,050.00 RPTTF 1 0.00 749 725.00 0.00 0.00 0.00 0.00 $ 749,725.00 3 Tax Allocation Revenue Bonds, 2010 Series C 1-Nov -10 Union Bank, N.A. Bond issue to fund non-housing projects Project I and II 41,640,692.10 2,205,813.76 RPTTF 0.00 1,678,606.88 0.00 0.00 0.00 0.00 $ 1,678,606.88 4 Tax Allocation Revenue Bonds, 2011 Series A Wan -11 Union Bank, N. A. Bond issue to fund non-housing projects Project 1 7,260,081.25 731,612.50 RPTTF 0.00 592,756.25 0.00 0.00 0.00 0.00 $ 592,756.25 5 Local Agency Revenue Bonds, 2011 Series A 1-Apr-11 Union Bank, N.A. Bond issue to fund non-housing projects Project II and III 9,787,253.75 423,652.50 RPTTF 0.00 257,636.25 0.00 0.00 0.00 0.00 $ 257,636.25 6 Fiscal Agent Fees Union Bank, N.A. Annual fiscal agent feesforbondsissues All 493,700.00 97,549.92 RPTTF 8,129.16 8,129.16 8,129.16 8,129.16 8,129.16 8,129.16 $ 48,774.96 7 Bond Disclosure Services HdL Coren & Cone Annual continuing disclosure for bond Issues All 93,500.00 5,250.00 RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 8 MG /Chelsea Outlet OPA 26- Dec-89 MG /Chelsea Property tax revenue reimbursement Project 1 2,085,243.50 109 513.00 RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 9 Walmart DDA 1993 Wal-Mart Stores Property tax revenue reimbursement Project II 0.00 0.00 RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 10 Oak roves DDA 12- Dec -93 Oak Grove Equities Property tax revenue reimbursement Project II 2,329,952.77 66,610.00 RPTTF 0.00 0.00 0.00 0.00 1 0.00 0.00 $ 11 EVMWD - Amber Ridge 18-Mar-93 EVMWD Property tax revenue reimbursement Project III 223,282.00 60,740.00 RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 12) Summedy DDA 11- Mar -11 McMillin Summerly LLC and Civic Partners- Elsinore LLC DDA pledges a portion of property tax avenues through 2038. Total outstanding debt or obligation is esffinated based on projections of tax revenue growth at 2% per annum. if property values and mnesspond'i g revenues grow at a higher or lower rate than 2% per annum, the total obligation will sbn1ady inerease or decreased. DDA pledges a portion of tax Increment for so long as the Agency receives tax br-t project II and III 5,240,913.00 226,662.00 RPTTF 226,662.00 0.00 0.00 0.00 0.00 0.00 $ 226,662.00 13) Summary DDA Extraordinary Infrastructure Fund 11- Mar -11 Mc Millin Summerly LLC Project II and III 3,413,248.00 0.00 RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 14 Summer) DDA S 'al Counsel Fulb' ht & Jaworskl L.L.P.. Legal Services Project It and III Not Applicable 0.00 0.00 0.00 0.00 0.00 1 0.00 $ 15 Summarily DDA Annual Report HdL Coren & Cone Fiscal Reporting Services Project II and III Not Ap Iicable 0.00 0.00 0.00 0.00 0.00 0.00 $ 16 Stadium Agreement 15- Ju1.07 Diamond Stadium Group Annual Capital Contribution All 4,500,000.00 300,000.00 RPTTF 300,000.00 0.00 0.00 0.00 0.00 0.00 $ 300,000.00 17 City Reimbursement LERA 1- Jul-00 City of Lake Elsinore City Reimbursement LERA - Debt Service All 14,080,000.00 704,000.00 RPTTF 352,000.00 0.00 0.00 0.00 0.00 0.00 $ 352,000.00 18 Housing und Loan g Amount repayable by operation of law Housing und 9 Re Payment of SERAF All 2,250,000.00 750,000.00 RPTTF 0.00 0.00 0.00 0.00 0.00 260,000.00 $ 260,000.00 19) Housing Fund Loan 1- Dec -95 Housing Fund Payments on principal and Interest on loan of bond proceeds from the housing fund. Payments made in any given fiscal year are calculated and disbursed based on available property tax revenue funds after deductions for payment of all other debts and obligations of the Agency. All 28,691,594.70 3,000,000.00 RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 20) Legal Services 27 -Sep -0S Leibold McClendon &Mann Legal services for projects, bonds & DDA/Stadium Agreement compliance. All To be detenrik ed based on services provided 192,000.00 RPTTF 16,000.00 16,000.00 16,000.00 16,000.00 16,000.00 16,000.00 $ 96,000.00 21) Consultant Fees 23-Oct -07 HdL Coren & Cone Tax Projections for bond & DDA compliance All To be del-bred based on semoss provided 37,500.00 RPTTF 3,125.00 3,125.00 3,125.00 3,125.00 3,125.00 3,125.00 $ 18,750.00 22 Audit Services TBD TBD Bond disclosure compliance All 13,700.00 RPTTF 13,700.00 $ 13,700.00 23 24 $ 25 $ 26 $ 27 $ 28 $ 29 $ 30 $ 31 $ 32) $ Totals - This Page ( RPTIF Funding) Totals - Page 2 (Other Funding) Totals - Page 3 (Administrative Cost Allowance) Totals - Page 4 (Pass Thru Payments) Grand total - All Pages $ 162,272,484.06 $10,844,734.94 N/A $ 905,916.16 $ 3,957,844.17 $ 27,254.16 $ 27,254.16 $ 27,254.16 $ 300,954.16 $5,246,476.97 $ $ N/A $ $ $ $ $ $ $ $ $ 314,760.00 N/A $ 26,230.00 $ 26,230.00 $ 26,230.00 $ 26,230.00 $ 26,230.00 $ 26,230.00 $ 157,380.00 $ $ N/A $ $ $ $ $ $ $ $ 162,272,484.06 $ 11,159,494.94 0 $ 932,146.16 $ 3,984,074.17 $ 53,484.16 $ 53,484.16 $ 53,484.16 J $ 327,184.16]E$ 5,403,856.97 The Initial Draft Recognized Obligation Payment Schedule (ROPS) Is to be completed by 3/1/2012 by the successor agency, and subsequently be approved by the oversight board and audited by the County. " All totals due during fiscal year and payment amounts are projected. RPTTF - Redevelopment Property Tax Trust Fund Bonds - Bond proceeds Other - reserves, rents, interest earnings, etc LMIHF - Low and Moderate Income Housing Fund Admin - Successor Agency Administrative Allowance 12-May-12 Name of Successor Agency: Successor Agency to the Redevelopment Agency of the City of Lake Elsinore Project Area(s) RDA Project Area All FIRST AMENDED RECOGNIZED OBLIGATION PAYMENT SCHEDULE JULY 2012 THROUGH DECEMBER 2012 Per AB 26 - Section 34177 (') Page 2 of 4 Pages Project Name / Debt Obligation Contract/Agreement Execution Date Payee Description Project Area Total Outstanding Debt or Obligation Total Due During Fiscal Year 2012 - 2013 ** Funding Source Payable from Other Revenue Sources Pa ents b month Jul 2012 Aug 2012 Sep 2012 Oct 2012 Nov 2012 Dec 2012 Total 1) $ 2 $ 3 $ 4 $ 5 $ 6 $ 7 $ 8 $ 9 $ 10 $ 11) $ 12) $ 13 $ 14 $ 15 $ 16 $ 17 $ 18) $ 19) $ 20) $ 21) $ 22) $ 23 $ 24 $ 25 $ 26 $ 27 $ 28 $ 29 $ 30 $ 31 $ 32 $ 33) $ Totals - LMHF Totals - Bonds Totals - Other Grand total - This Page $ $ $ $ $ $ $ $ $0.00 $ $ Is $ $ $ $ $ $0.00 $ $ is $ Is $ $ $ $0.00 $ $ $ $ $ $ $ $ $ ' The Initial Draft Recognized Obligation Payment Schedule (ROPS) is to be completed by 3/1/2012 by the successor agency, and subsequently be approved by the oversight board and audited by the County. " All total due during fiscal year and payment amounts are projected. RPTTF - Redevelopment Property Tax Trust Fund Bonds - Bond proceeds Other - reserves, rents, interest earnings, etc LMIHF - Low and Moderate Income Housing Fund Admin - Successor Agency Administrative Allowance 12-May-12 Name of Successor Agency: Successor Agency to the Redevelopment Agency of the City of Lake Elsinore Page 3 of 4 Pages Project Area(s) RDA Project Area All FIRST AMENDED RECOGNIZED OBLIGATION PAYMENT SCHEDULE JULY 2012 THROUGH DECEMBER 2012 Per AB 26 - Section 34177 ( *) Project Name / Debt Obligation Payee Description Project Area Total Outstanding Debt or Obligation Total Due During Fiscal Year 2012 - 2013 ** Funding Source ** Payable from the Administrative Allowance Allocation Payments b month Jul 2012 Aug 2012 Sep 2012 Oct 2012 Nov 2012 Dec 2012 Total 1 ),Employee Costs City of Lake Elsinore City Staff Support reimbursement All Areas 0.00 Admin $ 2 Other Administrative Costs City of Lake Elsinore Other Administrative Costs All Areas 0.00 Admin $ - 3 Estimated Admin Cost City of Lake Elsinore City Staff Support/other admin reimbursement 2012 -13 All Areas 314,760.00 Admin 26,230.00 26,230.00 26,230.00 26,230.00 26,230.00 26,230.00 $ 157,380.00 4 $ 5 $ 6 $ 7 $ B $ 9 $ 10 $ 11 $ 12 $ 13). $ 14 $ 15 $ 16 $ 17 $ 18 $ 19 $ 20 $ 21 $ 22 $ 23 $ 24 $ 25). $ 26 $ 27 $ 28 $ Totals - This Page $ $ 314,760.00 $ 26,230.00 $ 26,230.00 $ 26,230.00 $ 26,230.00 S 26,230.00 $ 26,230.00 $157,380.00 * The Initial Draft Recognized Obligation Payment Schedule (ROPS) is to be completed by 311/2012 by the successor agency, and subsequently be approved by the oversight board and audited by the County. ** All total due during fiscal year and payment amounts are projected. RPTTF - Redevelopment Property Tax Trust Fund Bonds - Bond proceeds Other - reserves, rents, interest earnings, etc LMIHF - Low and Moderate Income Housing Fund Admin - Successor Agency Administrative Allowance 12-May-12 Name of Successor Agency: Successor Agency to the Redevelopment Agency of the City of Lake Elsinore Project Area (s) RDA Project Area All FIRST AMENDED RECOGNIZED OBLIGATION PAYMENT SCHEDULE JULY 2012 THROUGH DECEMBER 2012 Per AB 26 - Section 34177 ( *) Page 4 of 4 Page Project Name / Debt Obligation Payee Description Project Area Total Outstanding Debt or Obligation Total Due During Fiscal Year 2012- 2013'* Source of Fund * ** Pass Through and Other Payments Payments by month Jul 2012 Aug 2012 Sep 2012 Oct 2012 Nov 2012 Dec 2012 Total 1 Pass-through Payments Riverside Co General Fund Payments per CRL 33401 Project I, II & III RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 2 Pass -throw h Payments Riverside Co Library Payments per CRL 33401 Project I, II & III RPTTF 1 0.00 0.00 0.00 0.00 0.00 0.00 $ 3 ) ayments Riverside Co Structural Fire District Payments per CRL 33401 Project I, II & III RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 4 Pass-through Payments Lake Elsinore USD Payments per CRL 33401 Project III RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 5 Pass-through Payments Mt. San Jacinto CCD Payments per CRL 33401 Project III RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 6 Pass-through Payments Riverside Co. Office of Education Payments per CRL 33401 Project III RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 7 Pass-through Payments Riverside Co. Flood Control District Payments per CRL 33401 Project I, II & III RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 8 Pass-through Payments Elsinore Valley Cemetery District Payments per CRL 33401 Project II RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 9 ayments Elsinore Valley Municipal Water Dist. Payments per CRL 33401 Project I, II & III RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 10 Pass-through Payments Elsinore Water District Payments per CRL 33401 Project II & III RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 11 Statutory Payments City of Lake Elsinore Payments per CRL 33607.5 and .7 Project I RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 12 Statutory Payments Lake Elsinore USD Payments per CRL 33607.5 and .7 Project I RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 13 Statutory Payments Mt. San Jacinto CCD Payments per CRL 33607.5 and .7 Project I RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 14 Statutory Payments Riverside Co. Office of Education Payments per CRL 33607.5 and .7 Project I RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 15 Statutory Payments Riverside Co. Regional Park & Open Space Payments per CRL 33607.5 and .7 Project I RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 16 Statutory Payments Elsinore Valley Cemetery District Payments per CRL 33607.5 and .7 Project I RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 17 Statutory Payments Western Municipal Water District Payments per CRL 33607.5 and .7 Project I RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 16 Statutory Payments Elsinore Water District Payments per CRL 33607.5 and .7 Project I RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ 19 Statutory Payments Metropolitan Water District Payments per CRL 33607.5 and .7 Project I RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ County Administrative Fees Riverside Co. Auditor - Controller Payments per CRL 33607 RPTTF 0.00 0.00 0.00 0.00 0.00 0.00 $ Totals - Other Obligations $ $ $ Is Is Is Is Is Is $ " The Initial Draft Recognized Obligation Payment Schedule (ROPS) is to be completed by 3/1/2012 by the successor agency, and subsequently be approved by the oversight board and audited by the County. •• All total due during fiscal year and payment amounts are projected. Funding sources from the successor agency: (For fiscal 2011 -12 only, references to RPTTF could also mean tax increment (TI) allocated to the Agency prior to February 1, 2012.) RPTTF - Redevelopment Property Tax Trust Fund Bonds - Bond proceeds Other - reserves, rents, interest earnings, etc LMIHF - Low and Moderate Income Housing Fund Admin - Successor Agency Administrative Allowance 12-May-12