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Home My WebLink AboutPacket 1-29Oversight Board City of Lake Elsinore Regular Agenda CITY HALL CONFERENCE ROOM A 130 S. MAIN STREET LAKE ELSINORE, CA LAKE-ELSINORE.ORG (951) 674-3124 PHONE GENIE KELLEY, CHAIR BRIAN TISDALE, VICE-CHAIR PHIL WILLIAMS, BOARD MEMBER MICHAEL WILLIAMS, BOARD MEMBER KEVIN JEFFRIES, BOARD MEMBER NANCY LASSEY, BOARD MEMBER ARLEEN SANCHEZ, BOARD MEMBER City Hall - Conference Room A4:00 PMMonday, January 29, 2018 The agenda is posted 72 hours prior to each meeting outside of the Lake Elsinore City Hall located at 130 South Main Street and is available at each meeting. The agenda and related reports are also available at the Lake Elsinore City Clerk's Department on the Friday prior to the Oversight Board meeting and are available on the City's website at www .lake-elsinore.org . Any writing distributed within 72 hours of the meeting will be made available to the public at the time it is distributed to the Oversight Board. In compliance with the Americans with Disabilities Act, any person with a disability who requires a modification or accommodation in order to participate in a meeting should contact the Community Development Department at (951) 674 -3124, ext. 289, at least 48 hours before the meeting to make reasonable arrangements to ensure accessibility. CALL TO ORDER - 4:00 P.M. PLEDGE OF ALLEGIANCE ROLL CALL PUBLIC COMMENTS - NON AGENDIZED ITEMS - 3 MINUTES (Please read & complete a a form Request to address the Oversight Board prior to the start of the Oversight Board meeting and submit it to the Clerk. The Chairperson or Clerk will call on you to speak when your item is called.) CONSENT CALENDAR ITEM(S) 1)Warrant Lists for December 15, 2016, thru November 30, 2017 Recommendation:Receive and file. OB SR- Warrant Lists 012918 Warrant Summary-List 121516 - 113017 Attachments: 2)Investment Reports - December 2016 thru November 2017 Recommendation:Receive and file. OB SR- Investment Report 012918 Investment Report 12 2016 thru 11 2017 Attachments: Page 1 City of Lake Elsinore Printed on 1/25/2018 January 29, 2018Oversight Board Regular Agenda 3)Minutes of the Regular Meetings of January 23rd and September 18, 2017; and the Special Meeting of October 23, 2017 Recommendation:Approve the minutes. 1-23-17 Oversight Board 9-18-2017 Oversight Board 10-23-2017 Oversight Board Attachments: BUSINESS ITEM(S) 4)Loan Agreement between the City of Lake Elsinore and the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore in the Principal Amount of $159,765.00 for Administrative Costs for the ROPS 17-18 Period Recommendation:adopt A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, CALIFORNIA APPROVING A LOAN AGREEMENT BETWEEN THE CITY AND SUCCESSOR AGENCY UNDER HEALTH AND SAFETY CODE SECTION 34173(h) OB Staff Report Admin Shortfall Loan Agreement 012918 OB Reso #201-00_ Re Loan Agreement Admin Shortfall 012918 LOAN AGREEMENT FOR Admin Shortfall Attachments: 5)Fifth Amendment to Stadium Interim Management Agreement Recommendation:adopt A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING THE FIFTH AMENDMENT TO THE STADIUM INTERIM MANAGEMENT AGREEMENT BETWEEN THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE AND THE LAKE ELSINORE STORM LP OB Staff Report Fifth Amend to Interim Stadium Management Agreement 012918 OB Reso Approving Fifth Amendment Stadium Interim Mgmt Agt 012918 Fifth Amendment to Stadium Interim Management Agt 012518 Attachments: 6)Recognized Obligation Payment Schedule (ROPS 18-19) for July 1, 2018, through June 30, 2019 Recommendation:adopt A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, CALIFORNIA APPROVING THE AMENDED RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS 18-19) FOR JULY 1, 2018, THROUGH JUNE 30, 2019 OB Staff Report - Adoption of July 2018- June 2019 ROPS 18-19 012918 OB Reso #2018-00_ Re ROPS 18-19 012918 Lake Elsinore_ROPS 18-19 Draft v5 Attachments: STAFF COMMENTS BOARD MEMBER COMMENTS Page 2 City of Lake Elsinore Printed on 1/25/2018 January 29, 2018Oversight Board Regular Agenda ADJOURNMENT The meeting will adjourn. AFFIDAVIT OF POSTING I, Susan M. Domen, MMC Oversight Board Secretary, do hereby affirm that a copy of the foregoing agenda was posted at City Hall, on January 25, 2018 at ________ p.m. _________________________________________ Susan M. Domen, MMC Oversight Board Secretary Page 3 City of Lake Elsinore Printed on 1/25/2018 Text File City of Lake Elsinore 130 South Main Street Lake Elsinore, CA 92530 www.lake-elsinore.org File Number: ID# 17-505 Agenda Date: 1/29/2018 Status: Consent AgendaVersion: 1 File Type: ReportIn Control: Oversight Board Agenda Number: 1) Page 1 City of Lake Elsinore Printed on 1/25/2018 REPORT TO OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE To:Chairperson Kelley and Members of the Oversight Board From:Barbara Leibold, Successor Agency Counsel Date:January 29, 2018 Subject:Warrant Lists Recommendation Receive and file the attached Successor Agency Warrant lists for December 15, 2016 thru November 30, 2017. Discussion The warrant list is a listing of all general checks issued by the Successor Agency. Attached are warrant lists for all disbursements made by the Successor Agency for December 15, 2016 thru November 30, 2017. All checks issued are for items reflected on the Recognized Obligations Payment Schedule (ROPS) adopted by the Successor Agency and the Oversight Board and do not represent expenditures for any new items. Prepared by:Barbara Leibold, Successor Agency Counsel Attachments: Warrant Summary/List December 15, 2016 – November 30, 2017 DECEMBER 15, 2016 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 540 SUCCESSOR STADIUM CAPITAL 30,264.51 GRAND TOTAL 30,264.51$ Exhibit A 1 of 1 DECEMBER 15, 2016 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST CHECK#Vendor Name Amount 128133 LARIMAR DESIGN :: ARCHITECTURE & PLANNING 5,000.00$ 128146 PROSTAFF 8,812.50 128157 SO CALIFORNIA EDISON 14.55 128212 LARIMAR DESIGN :: ARCHITECTURE & PLANNING 16,014.74 128215 LOWE'S HOME CENTER, INC.93.92 128228 THE PRESS ENTERPRISE 328.80 GRAND TOTAL 30,264.51$ Exhibit B 1 of 1 DECEMBER 29, 2016 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 540 SUCCESSOR STADIUM CAPITAL 66,030.74$ GRAND TOTAL 66,030.74$ Exhibit C 1 of 1 DECEMBER 29, 2016 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST CHECK#Vendor Name Amount 128354 AP CONSTRUCTION GROUP, INC.8,110.03$ 128432 LAKE ELSINORE STORM, LP 57,891.00 128445 SO CALIFORNIA EDISON 29.71 GRAND TOTAL 66,030.74$ Exhibit D 1 of 1 JANUARY 12, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 540 SUCCESSOR STADIUM CAPITAL 15,034.40$ GRAND TOTAL 15,034.40$ Exhibit E 1 of 1 JANUARY 12, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST CHECK#Vendor Name Amount 128490 PROSTAFF 14,000.00$ 128562 PRO COAT POWDER COATING, INC.1,034.40 GRAND TOTAL 15,034.40$ Exhibit F 1 of 1 JANUARY 26, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 540 SUCCESSOR STADIUM CAPITAL 550,130.04$ GRAND TOTAL 550,130.04$ Exhibit G 1 of 1 JANUARY 26, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST CHECK#Vendor Name Amount 128644 LARIMER DESIGN:: ARCHITECTURE AND PLANNING 10.38$ 128689 AMERICAN SEATING 142,766.00 128722 LAKE ELSINORE STORM, LP 57,891.00 128725 MAPLES & ASSOCIATES, INC.65,450.15 DFT00001066 MAPLES & ASSOCIATES, INC.284,012.51 GRAND TOTAL 550,130.04$ Exhibit H 1 of 1 FEBRUARY 09, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 510 SUCCESSOR TO RDA AREA 1 2,684.26$ 520 SUCCESSOR TO RDA AREA 2 4,316.35 530 SUCCESSOR TO RDA AREA 3 1,603.01 540 SUCCESSOR STADIUM CAPITAL 155,330.71 GRAND TOTAL 163,934.33$ Exhibit A 1 of 1 FEBRUARY 09, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST WARRANT#Vendor Name Amount 128771 LEISURE CRAFT, INC.29,728.00$ 128811 HDL COREN & CONE 4,070.00 128821 LARIMER DESIGN:: ARCHITECTURE AND PLANNING 3,905.43 128833 GUS PAPAGOLOS 16,375.00 128843 SOUTHERN CALIFORNIA EDISON CO.12.67 128879 C.R. & R., INC.10,863.15 128897 LEIBOLD, MCCLENDON & MANN, PC 4,533.62 128900 MAPLES & ASSOCIATES, INC.94,446.46 GRAND TOTAL 163,934.33$ Exhibit B 1 of 1 MARCH 16, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 510 SUCCESSOR TO RDA AREA 1 448,122.49$ 520 SUCCESSOR TO RDA AREA 2 468,219.06 530 SUCCESSOR TO RDA AREA 3 141,474.21 540 SUCCESSOR STADIUM CAPITAL 190,379.67 GRAND TOTAL 1,248,195.43$ Exhibit A 1 of 1 MARCH 16, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST WARRANT#Vendor Name Amount 129080 ACTION GAS & WELDING SUPPLY 1,694.01$ 129109 GUS PAPAGOLOS 15,687.50 129120 SOUTHERN CALIFORNIA EDISON CO.73.50 129134 WILMINGTON TRUST, NATIONAL ASSOCIATION 2,000.00 129140 AMERICAN EXPRESS 11,393.97 129183 MAPLES & ASSOCIATES, INC.148,347.36 129241 C.R.&R., INC.3,409.05 129282 STK ARCHITECTURE, INC.9,653.25 DFT000001117 WILMINGTON TRUST, NATIONAL ASSOCIATION 1,055,815.76 GRAND TOTAL 1,248,074.40$ Exhibit B 1 of 1 FEBRUARY 23, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 510 SUCCESSOR TO RDA AREA 1 480.20$ 520 SUCCESSOR TO RDA AREA 2 617.91 530 SUCCESSOR TO RDA AREA 3 617.90 540 SUCCESSOR STADIUM CAPITAL 65,282.72 GRAND TOTAL 66,998.73$ Exhibit A 1 of 1 FEBRUARY 23, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST WARRANT#Vendor Name Amount 129034 LAKE ELSINORE STORM, LP 57,891.00$ 129036 LEIBOLD, MCCLENDON & MANN 1,716.01 129037 LEISURE CRAFT, INC.7,391.72 GRAND TOTAL 66,998.73$ Exhibit B 1 of 1 MARCH 30, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST WARRANT#Vendor Name Amount 129342 LAKE ELSINORE STORM, LP 57,891.00$ 129346 MAPLES & ASSOCIATES, INC.80,028.86 129441 SOUTHERN CALIFORNIA EDISON CO.13.40 129445 STOTZ EQUIPMENT 17,870.34 GRAND TOTAL 155,803.60$ Exhibit B 1 of 1 MARCH 30, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 540 SUCCESSOR STADIUM CAPITAL 155,803.60$ GRAND TOTAL 155,803.60$ Exhibit A 1 of 1 APRIL 13, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 510 SUCCESSOR TO RDA AREA 1 2,090.28$ 520 SUCCESSOR TO RDA AREA 2 508,189.87 530 SUCCESSOR TO RDA AREA 3 2,799.97 540 SUCCESSOR STADIUM CAPITAL 179,716.93 GRAND TOTAL 692,797.05$ Exhibit A 1 of 1 APRIL 13, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST WARRANT#Vendor Name Amount 129500 LARIMER DESIGN: ARCHITECTURE AND PLANNING 292.78$ 129501 LEIBOLD, MCCLENDON & MANN, PC 7,690.23 129507 MAPLES & ASSOCIATES, INC.80,028.86 129513 GUS PAPAGOLOS 16,687.50 129538 STOTZ EQUIPMENT 14,905.13 129561 C. R. & R., INC.8,589.55 129568 DEERE & COMPANY 27,072.08 129585 HDL COREN & CONE 15,941.25 129626 STK ARCHITECTURE, INC.19,318.78 129627 STOTZ EQUIPMENT 12,822.25 DFT000001186 MCMILLIN SUMMERLY,LLC 489,448.64 GRAND TOTAL 692,797.05$ Exhibit B 1 of 1 APRIL 27, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 540 SUCCESSOR STADIUM CAPITAL 112,507.79 GRAND TOTAL 112,507.79$ Exhibit A 1 of 1 APRIL 27, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST WARRANT#Vendor Name Amount 157 MAPLES & ASSOCIATES, INC.26,955.00$ 129669 LEISURE CRAFT, INC.27,661.79 129714 LAKE ELSINORE STORM, LP 57,891.00 GRAND TOTAL 112,507.79$ Exhibit B 1 of 1 MAY 11, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 510 SUCCESSOR TO RDA AREA 1 1,589.72$ 520 SUCCESSOR TO RDA AREA 2 3,327.70 530 SUCCESSOR TO RDA AREA 3 614.36 540 SUCCESSOR STADIUM CAPITAL 521,119.94 GRAND TOTAL 526,651.72$ Exhibit A 1 of 1 MAY 11, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST WARRANT#Vendor Name Amount 168-169 MAPLES & ASSOCIATES, INC.48,254.00$ 129753 AMERICAN SEATING 451,249.01 129770 HDL COREN & CONE 4,070.00 129781 LEIBOLD, MCCLENDON & MANN, PC 1,461.78 129800 GUS PAPAGOLOS 13,937.50 129816 SOUTHERN CALIFORNIA EDISON 147.98 129854 BEST CONTRACTING SERVICES 7,460.00 129856 C.R. & R., INC.71.45 GRAND TOTAL 526,651.72$ Exhibit B 1 of 1 MAY 25, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 510 SUCCESSOR TO RDA AREA 1 1,391.16$ 520 SUCCESSOR TO RDA AREA 2 2,270.34 530 SUCCESSOR TO RDA AREA 3 2,270.35 540 SUCCESSOR STADIUM CAPITAL 96,075.29 GRAND TOTAL 102,007.14$ Exhibit A 1 of 1 MAY 25, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST WARRANT#Vendor Name Amount 129937 ALLBAUGH ELECTRICAL SERVICES 22,469.29$ 130010 STK ARCHITECTURE, INC.15,715.00 130081 LAKE ELSINORE STORM, LP 57,891.00 130083 LEIBOLD, MCCLENDON & MANN, PC 5,931.85 GRAND TOTAL 102,007.14$ Exhibit B 1 of 1 JUNE 8, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY Exhibit A 1 of 1 FUND#FUND DESCRIPTION TOTAL 540 SUCCESSOR STADIUM CAPITAL 49,571.38 GRAND TOTAL 49,571.38$ JUNE 8, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST Exhibit B 1 of 1 WARRANT#Vendor Name Amount 202 MAPLES & ASSOCIATES, INC.35,794.09$ 130182 GUS PAPAGOLOS 13,687.50 130200 SOUTHERN CALIFORNIA EDISON CO.89.79 GRAND TOTAL 49,571.38$ JUNE 29, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 510 SUCCESSOR TO RDA AREA 1 1,313.49$ 520 SUCCESSOR TO RDA AREA 2 3,008.33 530 SUCCESSOR TO RDA AREA 3 3,008.30 540 SUCCESSOR STADIUM CAPITAL 17,763.40 GRAND TOTAL 25,093.52$ Exhibit A 1 of 1 JUNE 29, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST WARRANT#Vendor Name Amount 130431 LEIBOLD, MCCLENDON & MANN, PC 1,779.58$ 130492 KPFF CONSULTING ENGINEERS, INC.8,800.00 130493 LEIBOLD, MCCLENDON & MANN, PC 5,550.54 130500 MILLENNIUM ALARM SYSTEMS, INC.8,866.00 130512 SOUTHERN CALIFORNIA EDISON CO.97.40 GRAND TOTAL 25,093.52$ Exhibit B 1 of 1 JULY 13, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 510 SUCCESSOR TO RDA AREA 1 1,038.08$ 520 SUCCESSOR TO RDA AREA 2 1,249.94 530 SUCCESSOR TO RDA AREA 3 1,249.92 540 SUCCESSOR STADIUM CAPITAL 80,016.00 GRAND TOTAL 83,553.94$ Exhibit A 1 of 1 JULY 13, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST WARRANT#Vendor Name Amount 130550 GUS PAPAGOLOS 14,625.00$ 130632 LAKE ELSINORE STORM, LP 57,891.00 130635 LEIBOLD MCCLENDON & MANN 3,537.94 130647 MILLENNIUM ALARM SYSTEM 7,500.00 GRAND TOTAL 83,553.94$ Exhibit B 1 of 1 JULY 27, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 510 SUCCESSOR TO RDA AREA 1 3,958.43$ 520 SUCCESSOR TO RDA AREA 2 5,778.24 530 SUCCESSOR TO RDA AREA 3 4,446.74 540 SUCCESSOR STADIUM CAPITAL 90,094.69 GRAND TOTAL 104,278.10$ Exhibit A 1 of 1 JULY 27, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST WARRANT#Vendor Name Amount 314 MAPLES & ASSOCIATES, INC.5,600.00$ 130744 LAKE ELSINORE STORM, LP 6,256.25 130771 STK ARCHITECTURE, INC.14,509.00 130781 URBAN FUTURES, INC.5,900.00 130832 LAKE ELSINORE STORM, LP 58,534.44 130833 LEIBOLD, MCCLENDON & MANN, PC 8,283.41 130861 VAN HOLLAND CONCRETE 5,195.00 GRAND TOTAL 104,278.10$ Exhibit B 1 of 1 AUGUST 10, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 510 SUCCESSOR TO RDA AREA 1 4,070.00$ 540 SUCCESSOR STADIUM CAPITAL 33,660.71 GRAND TOTAL 37,730.71$ Exhibit A 1 of 1 AUGUST 10, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST WARRANT#Vendor Name Amount 338 MAPLES & ASSOCIATES, INC.1,500.00$ 130896 GUS PAPAGOLOS 7,375.00 130905 SOUTHERN CALIFORNIA EDISON 162.94 130956 HDL COREN & CONE 4,070.00 130964 LEISURE CRAFT, INC.7,391.72 130988 STK ARCHITECTURE, INC.17,231.05 GRAND TOTAL 37,730.71$ Exhibit B 1 of 1 AUGUST 31, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 510 SUCCESSOR TO RDA AREA 1 4,050,945.95$ 540 SUCCESSOR STADIUM CAPITAL 81,806.81 GRAND TOTAL 4,132,752.76$ Exhibit A 1 of 1 AUGUST 31, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST WARRANT#Vendor Name Amount 131063 WILMINGTON TRUCT, NATIONAL ASSOCIATION 4,050,945.95$ 131065 XTREME HEATING & AIR CONDITIONING 6,825.00 131082 HEMET FENCE COMPANY 9,875.00 131088 LAKE ELSINORE STORM, LP 57,891.00 131160 GUS PAPAGOLOS 7,125.00 131171 SOUTHERN CALIFORNIA EDISON 90.81 GRAND TOTAL 4,132,752.76$ Exhibit B 1 of 1 SEPTEMBER 14, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 510 SUCCESSOR TO RDA AREA 1 16,289.84$ 540 SUCCESSOR STADIUM CAPITAL 4,965.48 GRAND TOTAL 21,255.32$ Exhibit A 1 of 1 SEPTEMBER 14, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST WARRANT#Vendor Name Amount 131207 HDL COREN & CONE 43.31$ 131235 WARREN COLLINS & ASSOCIATES 4,579.38 131238 WILMINGTON TRUST, NATIONAL ASSOCIATION 4,200.00 131305 LEIBOLD, MCCLENDON & MANN, PA 1,546.53 131316 THE PRESS ENTERPRISE 386.10 131346 URBAN FUTURES, INC.10,500.00 GRAND TOTAL 21,255.32$ Exhibit B 1 of 1 SEPTEMBER 28, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 510 SUCCESSOR TO RDA AREA 1 812.70$ 540 SUCCESSOR STADIUM CAPITAL 114,188.14 GRAND TOTAL 115,000.84$ Exhibit A 1 of 1 SEPTEMBER 28, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST WARRANT#Vendor Name Amount 460 SILVER & WRIGHT,LLP 812.70$ 131384 INNOVATIVE STRUCTURAL ENGINEERING, INC.28,600.00 131389 LAKE ELSINORE STORM, LP 57,891.00 131469 GUS PAPAGOLOS 8,875.00 131479 SOUTHERN CALIFORNIA EDISON 26.48 131484 STK ARCHITECTURE, INC.18,795.66 GRAND TOTAL 115,000.84$ Exhibit B 1 of 1 OCTOBER 12, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 510 SUCCESSOR TO RDA AREA 1 1,631.28$ GRAND TOTAL 1,631.28$ Exhibit A 1 of 1 OCTOBER 12, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST WARRANT#Vendor Name Amount 131525 BEAZER HOMES 1,631.28$ GRAND TOTAL 1,631.28$ Exhibit B 1 of 1 OCTOBER 26, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 510 SUCCESSOR TO RDA AREA 1 1,906.67$ 540 SUCCESSOR STADIUM CAPITAL 65,058.82 GRAND TOTAL 66,965.49$ Exhibit A 1 of 1 OCTOBER 26, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST WARRANT#Vendor Name Amount 131652 LEIBOLD, MCCLENDON & MANN, PC 1,906.67$ 131662 THE PRESS ENTERPRISE 217.80 131708 LAKE ELSINORE STORM, LP 57,891.00 131715 GUS PAPAGOLOS 6,937.50 131727 SOUTHERN CALIFORNIA EDISON 12.52 GRAND TOTAL 66,965.49$ Exhibit B 1 of 1 NOVEMBER 16, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 510 SUCCESSOR TO RDA AREA 1 4,070.00$ 540 SUCCESSOR STADIUM CAPITAL 14,396.50 GRAND TOTAL 18,466.50$ Exhibit A 1 of 1 NOVEMBER 16, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST WARRANT#Vendor Name Amount 520 MAPLES & ASSOCIATES, INC.1,700.00$ 546 GMS ELEVATOR SERVICES, INC.2,260.00 131779 THE PRESS ENTERPRISE 240.90 131822 HDL COREN & CONE 4,070.00 131824 HEMET FENCE COMPANY 9,500.00 131939 STK ARCHITECTURE, INC.695.60 GRAND TOTAL 18,466.50$ Exhibit B 1 of 1 NOVEMBER 30, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 540 SUCCESSOR STADIUM CAPITAL 58,183.98 GRAND TOTAL 58,183.98$ Exhibit A 1 of 1 NOVEMBER 30, 2017 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT LIST WARRANT#Vendor Name Amount 131998 LAKE ELSINORE STORM, LP 57,891.00$ 132008 THE PRESS ENTERPRISE 224.40 132014 SOUTHERN CALIFORNIA EDISON 68.58 GRAND TOTAL 58,183.98$ Exhibit B 1 of 1 Text File City of Lake Elsinore 130 South Main Street Lake Elsinore, CA 92530 www.lake-elsinore.org File Number: ID# 17-506 Agenda Date: 1/29/2018 Status: Consent AgendaVersion: 1 File Type: ReportIn Control: Oversight Board Agenda Number: 2) Page 1 City of Lake Elsinore Printed on 1/25/2018 REPORT TO OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE To:Chairperson Kelley and Members of the Oversight Board From:Barbara Leibold, Successor Agency Counsel Date:January 29, 2018 Subject:Investment Reports – December 2016 thru November 2017 Recommendation Receive and file the Successor Agency Investment Report Summaries for December 2016 through November 2017. Discussion Attached are the Investment Report Summaries of Pooled Cash and Investments of the Successor Agency for December 2016 thru November 2017. The City’s Investment Reports are now combined reports listing of all funds invested for the City of Lake Elsinore and funds held for the Successor Agency as of the date shown on the report. As reported in the Pooled Cash and Investments By Fund, the Successor Agency Funds are: Fund No. 510 Successor Agency RDA Area I Fund No. 520 Successor Agency RDA Area II Fund No. 530 Successor Agency RDA Area IIII Fund No. 540 Successor Agency RDA Diamond Stadium Prepared by:Barbara Leibold, Successor Agency Counsel Attachments: Investment Report Summaries –December 2016 thru November 2017 BANK DEPOSITS OUTSTANDING BOOK CASH ACCOUNTS BALANCE IN TRANSIT CHECKS BALANCE Bank Accounts: General Checking Account 3,639,953$ 416,250$ (958,946)$ 3,097,256$ Cash On Hand: Cashier Drawers #1 & #2 - - - 300 City of Lake Elsinore Petty Cash Fund - - - 1,000 Total Cash Accounts 3,639,953 416,250 (958,946) 3,098,556 INVESTMENTS City Investments: City Local Agency Investment Fund 10,519,815 - 10,519,815 City Local Agency Investment Fund for the PFA 330,938 - - 330,938 City CAMP Investments: CAMP Pool Account 28,055 - - 28,055 U.S. Treasury Bond / Note 10,415,403 - - 10,415,403 Municipal Bond / Note 290,464 - - 290,464 Federal Agency Collateralized Mortgage Obligation 530,253 - - 530,253 Federal Agency Bond / Note 8,285,516 - - 8,285,516 Corporate Note 6,410,361 - - 6,410,361 Certificate of Deposit 4,074,552 - - 4,074,552 Housing CAMP Investments: Housing CAMP Pool Account 10,606 - - 10,606 Housing U.S. Treasury Bond / Notes 1,655,896 - - 1,655,896 Housing Municipal Bond / Notes 30,084 - - 30,084 Housing Federal Agency Collateralized Mortgage 95,951 - - 95,951 Housing Federal Agency Bond / Notes 1,585,941 - - 1,585,941 Housing Corporate Notes 1,318,456 - - 1,318,456 Housing Certificate of Deposit 400,000 - - 400,000 Successor Investments: Successor Local Agency Investment Fund 3,996,855 - - 3,996,855 Successor CAMP Investments: Successor CAMP Pool Account 19,594 - - 19,594 Successor U.S. Treasury Bond / Notes 1,755,118 - - 1,755,118 Successor Municipal Bond / notes 30,084 - - 30,084 Successor Federal Agency Collaterized Mortgage 95,951 - - 95,951 Successor Federal Agency Bond / Notes 1,881,365 - - 1,881,365 Successor Corporate Notes 1,120,612 - - 1,120,612 Successor Certificate of Deposit 400,000 - - 400,000 Sub-total Investments 55,281,869 - - 55,281,869 Market Value Adjustment: Unrealized Gain/ (Loss) at 06-30-16 City 441,611 - - 441,611 Unrealized Gain/ (Loss) at 06-30-16 SARDA 70,791 - - 70,791 Total Unrealized Gain/ (Loss) at 06-30-16 per GASB 31 512,402 - - 512,402 Total Investments 55,794,271 - - 55,794,271 Total Pooled Cash and Investments 59,434,224$ 416,250$ (958,946)$ 58,892,827$ TOTAL POOLED CASH AND INVESTMENTS 58,892,827$ I certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the City Council on June 16, 2016. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures. Jason P. Simpson January 11, 2017 Director of Administrative Services Date C I T Y O F L A K E E L S I N O R E INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS AS OF DECEMBER 31, 2016 FUND NO FUND NAME AMOUNT 100 General Fund 10,697,005$ 101 Supplemental Law Enforcement Fund 70,990 104 Traffic Offender Fund 14,217 106 Affordable Housing In Lieu Fund 1,019,944 107 Developer Agreement Revenue 1,250,962 110 State Gas Tax Fund 1,533,483 111 TUMF C.I.P. Fund 2,706 112 Measure A Fund 1,206,701 114 SB1186 CASP Education Program Fund 6,521 115 Traffic Safety Fund 150,004 116 City Hall-Public Works DIF Fund 1,273,325 117 Community Center DIF Fund 567,768 118 Lake Side Facility DIF Fund 705,420 119 Animal Shelter DIF Fund 45,450 121 T.R.I.P.-2014A 128 135 Lighting & Landscape Maintenance Fund - Dist. No. 1 407,174 140 Geothermal Fund 20,032 150 C.D.B.G. Fund 6,333 155 CSA152 -- N.P.D.E.S.39,388 160 PEG Grant Fund 33,490 205 Traffic Impact Fee Fund 3,919,087 211 Storm Drain C.I.P. Fund 2,409,837 221 Quimby Park C.I.P. Fund 16,787 231 Library C.I.P. Fund 1,741,805 232 City Fire Protection Fund 72,352 254 AD 89-1 Railroad Canyon Rd. Improvement Fund 126,253 268 CFD 2006-2 Viscaya Improvement 221 300 Insurance Service 928,134 320 Facilities Service 528,677 332 CFD 2006-1 Improvement Area B, Summerly 6,668 334 CFD 2015-5 Trieste - Far West Industries 18,922 336 CFD 2006-1FF Summerly Improvement Area FF 17,006 337 CFD 2016-2 Canyon Hills 9,484 345 CFD 2003-2S Improvement Area D, Canyon Hills 3,028 346 CFD 2014-1 Southshore Debt Service Fund 63,494 347 CFD 2006-1 Improvement Area A, Summerly 11,055 350 CFD 98-1 Summerhill Debt Service Fund 31,978 352 AD 86-1 Debt Service Fund 659,115 354 CFD 90-2 Successor RDA Debt Service Fund 250,448 357 CFD 2003-2 Canyon Hills Debt Service Fund 44,080 366 CFD 2005-6 City Center Townhomes Debt Service Fund 33,013 C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF DECEMBER 31, 2016 FUND NO FUND NAME AMOUNT C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF DECEMBER 31, 2016 368 CFD 2006-2 Viscaya Debt Service Fund 61,261 369 CFD 2004-3 Area 1 Rosetta Canyon Debt Service Fund 37,511 371 CFD 2005-1 Serenity Debt Service Fund 19,425 372 CFD 2005-2 Alberhill Ranch Debt Service Fund 14,282 374 CFD 2005-4 Lakeview Villas Debt Service Fund 44,752 375 CFD 2006-4 Tract No. 30698 & 32129 Debt Service Fund 15,760 376 CFD 2006-3 La Strada Debt Service Fund 19,579 377 CFD 2006-6 Tessara Debt Service Fund 8,899 378 CFD 2006-8 Tract No. 31957 Debt Service Fund 45,821 384 CFD 2003-2 Area B Canyon Hills Debt Service Fund 28,380 385 CFD 2004-3 Area 2 Rosetta Canyon Debt Service Fund 45,101 386 CFD 2007-4 Mekenna Debt Service Fund 5,238 387 CFD 2007-5 Red Kite Debt Service Fund 63,072 388 CFD 2007-6 Holiday Inn Debt Service Fund 3,764 389 CFD 88-3 (2008A) West Lake Elsinore Debt Service Fund 25,368 390 CFD 2003-2 Area C Canyon Hills Debt Service Fund 30,516 392 CFD 95-1 City Center Debt Service Fund 20,412 393 AD 93-1 Debt Service Fund 23,524 394 CFD 2005-5 (2012A) Wasson Canyon Debt Service Fund 25,050 520 Successor Agency RDA Area II 2,011,817 530 Successor Agency RDA Area III 1,031,351 540 Successor Area RDA Diamond Stadium 2,611,589 604 Endowment Trust Fund 31,388 605 Public Improvement Trust Fund 866,721 606 Mobile Source Air Polution Reduction Fund 258,674 608 Trust Deposit & Pre Paid Expense Fund 5,846,622 617 Successor Agency Housing Fund 12,144,468 620 Cost Recovery System Fund 2,892,439 631 Lake Destratification Equipment Replacement Fund 214,069 731 LEPFA 2011 Series B 2 734 LEPFA 2013 Series C 409,888 736 LEPFA 2013 Series A 20 780 LEPFA General 93,578 Total Pooled Cash & Investments 58,892,827$ Yield Purchase Date Maturity Rate 0.719%Daily 24-Hour Agency Beginning Balance Net Increase/(Decrease)Ending Balance City 13,619,815$ (3,100,000)$ 10,519,815$ City for the PFA 330,938$ -$ 330,938$ Successor Agency 3,996,855$ -$ 3,996,855$ Total Investments Held with Local Agency Investment Fund:17,947,607$ (3,100,000)$ 14,847,607$ Note: Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit shall be maintained. LAIF accounts are subject to a $65 million cap per agency. C I T Y O F L A K E E L S I N O R E LOCAL AGENCY INVESTMENT FUND TRANSACTION SUMMARY FOR THE MONTH ENDING DECEMBER 31, 2016 BANK DEPOSITS OUTSTANDING BOOK CASH ACCOUNTS BALANCE IN TRANSIT CHECKS BALANCE Bank Accounts: General Checking Account 2,965,408$ 413,698$ (1,313,526)$ 2,065,580$ Cash On Hand: Cashier Drawers #1 & #2 - - - 300 City of Lake Elsinore Petty Cash Fund - - - 1,000 Total Cash Accounts 2,965,408 413,698 (1,313,526) 2,066,880 INVESTMENTS City Investments: City Local Agency Investment Fund 22,542,326 - 22,542,326 City Local Agency Investment Fund for the PFA - - - - City CAMP Investments: CAMP Pool Account 56,643 - - 56,643 U.S. Treasury Bond / Note 10,433,804 - - 10,433,804 Municipal Bond / Note 290,464 - - 290,464 Federal Agency Collateralized Mortgage Obligation 527,901 - - 527,901 Federal Agency Bond / Note 7,683,131 - - 7,683,131 Corporate Note 6,397,224 - - 6,397,224 Certificate of Deposit 4,674,552 - - 4,674,552 Housing CAMP Investments: Housing CAMP Pool Account 14,513 - - 14,513 Housing U.S. Treasury Bond / Notes 1,683,598 - - 1,683,598 Housing Municipal Bond / Notes 30,084 - - 30,084 Housing Federal Agency Collateralized Mortgage 95,551 - - 95,551 Housing Federal Agency Bond / Notes 1,361,048 - - 1,361,048 Housing Corporate Notes 1,418,403 - - 1,418,403 Housing Certificate of Deposit 500,000 - - 500,000 Successor Investments: Successor Local Agency Investment Fund 9,503,663 - - 9,503,663 Successor CAMP Investments: Successor CAMP Pool Account 21,140 - - 21,140 Successor U.S. Treasury Bond / Notes 1,832,796 - - 1,832,796 Successor Municipal Bond / notes 30,084 - - 30,084 Successor Federal Agency Collaterized Mortgage 95,551 - - 95,551 Successor Federal Agency Bond / Notes 1,608,343 - - 1,608,343 Successor Corporate Notes 1,220,559 - - 1,220,559 Successor Certificate of Deposit 500,000 - - 500,000 Sub-total Investments 72,521,375 - - 72,521,375 Market Value Adjustment: Unrealized Gain/ (Loss) at 06-30-16 City 441,611 - - 441,611 Unrealized Gain/ (Loss) at 06-30-16 SARDA 70,791 - - 70,791 Total Unrealized Gain/ (Loss) at 06-30-16 per GASB 31 512,402 - - 512,402 Total Investments 73,033,777 - - 73,033,777 Total Pooled Cash and Investments 75,999,186$ 413,698$ (1,313,526)$ 75,100,657$ TOTAL POOLED CASH AND INVESTMENTS 75,100,657$ I certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the City Council on June 16, 2016. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures. Jason P. Simpson February 21, 2017 Director of Administrative Services Date C I T Y O F L A K E E L S I N O R E INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS AS OF JANUARY 31, 2017 FUND NO FUND NAME AMOUNT 100 General Fund 9,501,162$ 106 Affordable Housing In Lieu Fund 1,024,168 107 Developer Agreement Revenue 1,256,495 110 State Gas Tax Fund 1,582,702 111 TUMF C.I.P. Fund 2,719 112 Measure A Fund 1,399,159 114 SB1186 CASP Education Program Fund 6,559 116 City Hall-Public Works DIF Fund 1,279,177 117 Community Center DIF Fund 570,343 118 Lake Side Facility DIF Fund 708,600 119 Animal Shelter DIF Fund 45,600 121 T.R.I.P.-2014A 150 130 Lighting & Landscape Maintenance Fund - City-wide 66,708 135 Lighting & Landscape Maintenance Fund - Dist. No. 1 581,757 140 Geothermal Fund 20,126 155 CSA152 -- N.P.D.E.S.187,399 160 PEG Grant Fund 33,612 205 Traffic Impact Fee Fund 3,937,042 211 Storm Drain C.I.P. Fund 4,283,473 221 Quimby Park C.I.P. Fund 16,861 231 Library C.I.P. Fund 1,749,910 232 City Fire Protection Fund 145,239 254 AD 89-1 Railroad Canyon Rd. Improvement Fund 126,253 268 CFD 2006-2 Viscaya Improvement 222 300 Insurance Service 933,110 305 Information Systems Service 64,452 310 Support Service 5,327 315 Fleet Service 140,608 320 Facilities Service 577,340 331 CFD 2006-1CC Summerly Improvement Area CC 56,484 332 CFD 2006-1 Improvement Area B, Summerly 89,302 334 CFD 2015-5 Trieste - Far West Industries 19,020 336 CFD 2006-1FF Summerly Improvement Area FF 26,558 337 CFD 2016-2 Canyon Hills 9,378 345 CFD 2003-2S Improvement Area D, Canyon Hills 847,874 346 CFD 2014-1 Southshore Debt Service Fund 63,793 347 CFD 2006-1 Improvement Area A, Summerly 122,688 350 CFD 98-1 Summerhill Debt Service Fund 1,007,595 352 AD 86-1 Debt Service Fund 659,115 354 CFD 90-2 Successor RDA Debt Service Fund 1,087,005 357 CFD 2003-2 Canyon Hills Debt Service Fund 480,548 C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF JANUARY 31, 2017 FUND NO FUND NAME AMOUNT C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF JANUARY 31, 2017 366 CFD 2005-6 City Center Townhomes Debt Service Fund 150,645 368 CFD 2006-2 Viscaya Debt Service Fund 288,835 369 CFD 2004-3 Area 1 Rosetta Canyon Debt Service Fund 805,361 371 CFD 2005-1 Serenity Debt Service Fund 342,194 372 CFD 2005-2 Alberhill Ranch Debt Service Fund 706,080 374 CFD 2005-4 Lakeview Villas Debt Service Fund 49,691 375 CFD 2006-4 Tract No. 30698 & 32129 Debt Service Fund 20,506 376 CFD 2006-3 La Strada Debt Service Fund 18,722 377 CFD 2006-6 Tessara Debt Service Fund 13,601 378 CFD 2006-8 Tract No. 31957 Debt Service Fund 50,696 384 CFD 2003-2 Area B Canyon Hills Debt Service Fund 910,633 385 CFD 2004-3 Area 2 Rosetta Canyon Debt Service Fund 938,865 387 CFD 2007-5 Red Kite Debt Service Fund 69,980 388 CFD 2007-6 Holiday Inn Debt Service Fund 3,652 389 CFD 88-3 (2008A) West Lake Elsinore Debt Service Fund 1,290,178 390 CFD 2003-2 Area C Canyon Hills Debt Service Fund 394,683 392 CFD 95-1 City Center Debt Service Fund 98,018 393 AD 93-1 Debt Service Fund 775,326 394 CFD 2005-5 (2012A) Wasson Canyon Debt Service Fund 187,695 510 Successor Agency RDA Area I 1,205,573 520 Successor Agency RDA Area II 3,981,535 530 Successor Agency RDA Area III 1,704,897 540 Successor Area RDA Diamond Stadium 4,040,461 604 Endowment Trust Fund 31,536 605 Public Improvement Trust Fund 870,809 606 Mobile Source Air Polution Reduction Fund 259,816 608 Trust Deposit & Pre Paid Expense Fund 5,852,834 617 Successor Agency Housing Fund 12,159,918 620 Cost Recovery System Fund 2,869,513 631 Lake Destratification Equipment Replacement Fund 199,066 731 LEPFA 2011 Series B 2 780 LEPFA General 93,703 Total Pooled Cash & Investments 75,100,657$ Yield Purchase Date Maturity Rate 0.751%Daily 24-Hour Agency Beginning Balance Net Increase/(Decrease)Ending Balance City 10,519,815$ 12,022,511$ 22,542,326$ City for the PFA 330,938$ (330,938)$ -$ Successor Agency 3,996,855$ 5,506,808$ 9,503,663$ Total Investments Held with Local Agency Investment Fund:14,847,607$ 17,198,381$ 32,045,989$ Note: Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit shall be maintained. LAIF accounts are subject to a $65 million cap per agency. C I T Y O F L A K E E L S I N O R E LOCAL AGENCY INVESTMENT FUND TRANSACTION SUMMARY FOR THE MONTH ENDING JANUARY 31, 2017 BANK DEPOSITS OUTSTANDING BOOK CASH ACCOUNTS BALANCE IN TRANSIT CHECKS BALANCE Bank Accounts: General Checking Account 7,591,143$ 249,880$ (1,235,686)$ 6,605,337$ Cash On Hand: Cashier Drawers #1 & #2 - - - 300 City of Lake Elsinore Petty Cash Fund - - - 1,000 Total Cash Accounts 7,591,143 249,880 (1,235,686) 6,606,637 INVESTMENTS City Investments: City Local Agency Investment Fund 18,542,326 - 18,542,326 City Local Agency Investment Fund for the PFA - - - - City CAMP Investments: CAMP Pool Account 81,097 - - 81,097 U.S. Treasury Bond / Note 9,758,274 - - 9,758,274 Municipal Bond / Note 290,464 - - 290,464 Federal Agency Collateralized Mortgage Obligation 527,082 - - 527,082 Federal Agency Bond / Note 7,634,195 - - 7,634,195 Corporate Note 6,577,036 - - 6,577,036 Commercial Paper 621,031 621,031 Certificate of Deposit 4,649,552 - - 4,649,552 Housing CAMP Investments: Housing CAMP Pool Account 24,836 - - 24,836 Housing U.S. Treasury Bond / Notes 1,569,551 - - 1,569,551 Housing Municipal Bond / Notes 30,084 - - 30,084 Housing Federal Agency Collateralized Mortgage 95,412 - - 95,412 Housing Federal Agency Bond / Notes 1,351,226 - - 1,351,226 Housing Corporate Notes 1,448,371 - - 1,448,371 Housing Certificate of Deposit 600,000 - - 600,000 Successor Investments: Successor Local Agency Investment Fund 8,403,663 - - 8,403,663 Successor CAMP Investments: Successor CAMP Pool Account 31,119 - - 31,119 Successor U.S. Treasury Bond / Notes 1,758,734 - - 1,758,734 Successor Municipal Bond / notes 30,084 - - 30,084 Successor Federal Agency Collaterized Mortgage 95,412 - - 95,412 Successor Federal Agency Bond / Notes 1,558,547 - - 1,558,547 Successor Corporate Notes 1,250,528 - - 1,250,528 Successor Certificate of Deposit 600,000 - - 600,000 Sub-total Investments 67,528,623 - - 67,528,623 Market Value Adjustment: Unrealized Gain/ (Loss) at 06-30-16 City 441,611 - - 441,611 Unrealized Gain/ (Loss) at 06-30-16 SARDA 70,791 - - 70,791 Total Unrealized Gain/ (Loss) at 06-30-16 per GASB 31 512,402 - - 512,402 Total Investments 68,041,025 - - 68,041,025 Total Pooled Cash and Investments 75,632,168$ 249,880$ (1,235,686)$ 74,647,662$ TOTAL POOLED CASH AND INVESTMENTS 74,647,662$ I certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the City Council on June 16, 2016. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures. Jason P. Simpson March 21, 2017 Director of Administrative Services Date C I T Y O F L A K E E L S I N O R E INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS AS OF FEBRUARY 28, 2017 FUND NO FUND NAME AMOUNT 100 General 9,824,018$ 101 Supplemental Law Enforcement 8,333 104 Traffic Offender 3,000 106 Affordable Housing In Lieu 1,037,441 107 Developer Agreement Revenue 756,495 110 State Gas Tax 1,310,422 112 Measure A 1,516,619 114 SB1186 CASP Education Program 6,765 116 City Hall-Public Works DIF 1,251,605 117 Community Center DIF 440,081 118 Lake Side Facility DIF 677,670 119 Animal Shelter DIF 45,600 121 T.R.I.P.-2014A 150 135 Lighting & Landscape Maintenance - Dist. No. 1 579,141 140 Geothermal 20,126 155 CSA152 -- N.P.D.E.S.25,629 205 Traffic Impact Fee 3,926,998 211 Storm Drain C.I.P. 4,273,023 231 Library C.I.P. 1,750,810 232 City Fire Protection 158,168 254 Railroad Canyon Improvement Area 89-1 126,253 268 CFD 2006-2 Viscaya Improvement 222 300 Insurance Service 933,110 305 Information Systems Service 5,178 315 Fleet Service 94,933 320 Facilities Service 548,577 331 CFD 2006-1CC Summerly Improvement Area CC 10,944 332 CFD 2006-1 Improvement Area B, Summerly 36,168 334 CFD 2015-5 Trieste - Far West Industries 19,020 336 CFD 2006-1FF Summerly Improvement Area FF 31,333 337 CFD 2016-2 Canyon Hills 9,378 345 CFD 2003-2S Improvement Area D, Canyon Hills 326,190 346 CFD 2014-1 Southshore 63,793 347 CFD 2006-1 Improvement Area A, Summerly 38,204 350 CFD 98-1 Summerhill 913,716 352 AD 86-1 Northwest Sewer 659,115 354 CFD 90-2 Tuscany Hills 1,100,597 357 CFD 2003-2 Canyon Hills Improvement Area 257,162 366 CFD 2005-6 City Center Townhomes Debt Service 91,996 368 CFD 2006-2 Viscaya 149,560 369 CFD 2004-3 Area 1 Rosetta Canyon Improvement Area 334,472 C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF FEBRUARY 28, 2017 FUND NO FUND NAME AMOUNT C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF FEBRUARY 28, 2017 371 CFD 2005-1 Serenity 159,634 372 CFD 2005-2 Alberhill Ranch Improvement Area 239,907 374 CFD 2005-4 Lakeview Villas 49,691 375 CFD 2006-4 Clurman Debt Service 20,506 376 CFD 2006-3 La Strada 18,722 377 CFD 2006-6 Tessara 13,601 378 CFD 2006-8 Running Deer Estates 50,696 384 CFD 2003-2 Area B Canyon Hills Improvement Area 302,930 385 CFD 2004-3 Area 2 Rosetta Canyon Improvement Area 385,446 387 CFD 2007-5 Red Kite 69,980 388 CFD 2007-6 Holiday Inn Express 3,652 389 CFD 88-3 (2008A) West Lake Elsinore Series A 1,211,410 390 CFD 2003-2 Area C Canyon Hills Improvement Area 112,325 392 CFD 95-1 City Center 76,370 393 AD 93-1 Cottonwood Hills 413,577 394 CFD 2005-5 (2012A) Wasson Canyon 174,299 500 Capital Improvement Plan 6,907,761 510 Successor Agency RDA Area I 584,235 520 Successor Agency RDA Area II 3,338,610 530 Successor Agency RDA Area III 1,390,590 540 Successor Area RDA Diamond Stadium 3,847,761 604 Endowment Trust - Korn Memorial 31,536 605 Public Improvement Trust 712,378 606 Mobile Source Air Polution Reduction 259,816 608 Trust Deposit & Pre Paid Expense 5,583,377 617 Successor Agency Housing 12,151,041 620 Cost Recovery System 2,976,727 631 Lake Destratification Equipment Replacement 199,066 Total Pooled Cash & Investments 74,647,662$ Yield Purchase Date Maturity Rate 0.777%Daily 24-Hour Agency Beginning Balance Net Increase/(Decrease)Ending Balance City 22,542,326$ (4,000,000)$ 18,542,326$ City for the PFA -$ -$ -$ Successor Agency 9,503,663$ (1,100,000)$ 8,403,663$ Total Investments Held with Local Agency Investment Fund:32,045,989$ (5,100,000)$ 26,945,989$ Note: Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit shall be maintained. LAIF accounts are subject to a $65 million cap per agency. C I T Y O F L A K E E L S I N O R E LOCAL AGENCY INVESTMENT FUND TRANSACTION SUMMARY FOR THE MONTH ENDING FEBRUARY 28, 2017 BANK DEPOSITS OUTSTANDING BOOK CASH ACCOUNTS BALANCE IN TRANSIT CHECKS BALANCE Bank Accounts: General Checking Account 5,438,789$ 243,442$ (641,894)$ 5,040,336$ Cash On Hand: Cashier Drawers #1 & #2 - - - 300 City of Lake Elsinore Petty Cash Fund - - - 1,000 Total Cash Accounts 5,438,789 243,442 (641,894) 5,041,636 INVESTMENTS City Investments: City Local Agency Investment Fund 18,542,326 - 18,542,326 City Local Agency Investment Fund for the PFA - - - - City CAMP Investments: CAMP Pool Account 26,764 - - 26,764 U.S. Treasury Bond / Note 10,315,437 - - 10,315,437 Municipal Bond / Note 290,464 - - 290,464 Federal Agency Collateralized Mortgage Obligation 526,547 - - 526,547 Federal Agency Bond / Note 6,737,579 - - 6,737,579 Corporate Note 6,975,791 - - 6,975,791 Commercial Paper 621,031 621,031 Certificate of Deposit 4,649,552 - - 4,649,552 Housing CAMP Investments: Housing CAMP Pool Account 25,954 - - 25,954 Housing U.S. Treasury Bond / Notes 1,666,450 - - 1,666,450 Housing Municipal Bond / Notes 30,084 - - 30,084 Housing Federal Agency Collateralized Mortgage 95,321 - - 95,321 Housing Federal Agency Bond / Notes 1,252,741 - - 1,252,741 Housing Corporate Notes 1,448,371 - - 1,448,371 Housing Certificate of Deposit 600,000 - - 600,000 Successor Investments: Successor Local Agency Investment Fund 8,403,663 - - 8,403,663 Successor CAMP Investments: Successor CAMP Pool Account 4,783 - - 4,783 Successor U.S. Treasury Bond / Notes 1,807,128 - - 1,807,128 Successor Municipal Bond / notes 30,084 - - 30,084 Successor Federal Agency Collaterized Mortgage 95,321 - - 95,321 Successor Federal Agency Bond / Notes 1,458,923 - - 1,458,923 Successor Corporate Notes 1,325,301 - - 1,325,301 Successor Certificate of Deposit 600,000 - - 600,000 Sub-total Investments 67,529,614 - - 67,529,614 Market Value Adjustment: Unrealized Gain/ (Loss) at 06-30-16 City 441,611 - - 441,611 Unrealized Gain/ (Loss) at 06-30-16 SARDA 70,791 - - 70,791 Total Unrealized Gain/ (Loss) at 06-30-16 per GASB 31 512,402 - - 512,402 Total Investments 68,042,016 - - 68,042,016 Total Pooled Cash and Investments 73,480,805$ 243,442$ (641,894)$ 73,083,653$ TOTAL POOLED CASH AND INVESTMENTS 73,083,653$ I certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the City Council on June 16, 2016. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures. Jason P. Simpson April 18, 2017 Director of Administrative Services Date C I T Y O F L A K E E L S I N O R E INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS AS OF MARCH 31, 2017 FUND NO FUND NAME AMOUNT 100 General 12,364,839$ 101 Supplemental Law Enforcement 16,667 104 Traffic Offender 5,625 106 Affordable Housing In Lieu 1,050,537 107 Developer Agreement Revenue 777,495 110 State Gas Tax 1,343,740 112 Measure A 1,516,619 114 SB1186 CASP Education Program 7,010 115 Traffic Safety 59,948 116 City Hall-Public Works DIF 1,261,313 117 Community Center DIF 446,621 118 Lake Side Facility DIF 687,018 119 Animal Shelter DIF 49,776 121 T.R.I.P.-2014A 150 135 Lighting & Landscape Maintenance - Dist. No. 1 573,646 140 Geothermal 20,126 155 CSA152 -- N.P.D.E.S.70,999 205 Traffic Impact Fee 3,951,289 211 Storm Drain C.I.P. 1,001,023 231 Library C.I.P. 1,727,835 232 City Fire Protection 167,180 254 Railroad Canyon Improvement Area 89-1 126,253 300 Insurance Service 933,110 315 Fleet Service 183,555 320 Facilities Service 493,507 331 CFD 2006-1CC Summerly Improvement Area CC 5,406 332 CFD 2006-1 Improvement Area B, Summerly 30,629 334 CFD 2015-5 Trieste - Far West Industries 5,823 336 CFD 2006-1FF Summerly Improvement Area FF 24,833 337 CFD 2016-2 Canyon Hills 9,378 345 CFD 2003-2S Improvement Area D, Canyon Hills 315,252 346 CFD 2014-1 Southshore 63,793 347 CFD 2006-1 Improvement Area A, Summerly 32,281 350 CFD 98-1 Summerhill 900,485 352 AD 86-1 Northwest Sewer 659,115 354 CFD 90-2 Tuscany Hills 934,378 357 CFD 2003-2 Canyon Hills Improvement Area 246,470 366 CFD 2005-6 City Center Townhomes Debt Service 86,377 368 CFD 2006-2 Viscaya 140,267 369 CFD 2004-3 Area 1 Rosetta Canyon Improvement Area 319,295 371 CFD 2005-1 Serenity 153,896 372 CFD 2005-2 Alberhill Ranch Improvement Area 234,369 374 CFD 2005-4 Lakeview Villas 48,499 C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF MARCH 31, 2017 FUND NO FUND NAME AMOUNT C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF MARCH 31, 2017 375 CFD 2006-4 Clurman Debt Service 12,614 376 CFD 2006-3 La Strada 13,138 377 CFD 2006-6 Tessara 6,170 378 CFD 2006-8 Running Deer Estates 43,266 384 CFD 2003-2 Area B Canyon Hills Improvement Area 281,362 385 CFD 2004-3 Area 2 Rosetta Canyon Improvement Area 378,198 387 CFD 2007-5 Red Kite 64,396 388 CFD 2007-6 Holiday Inn Express 3,652 389 CFD 88-3 (2008A) West Lake Elsinore Series A 1,158,797 390 CFD 2003-2 Area C Canyon Hills Improvement Area 97,816 392 CFD 95-1 City Center 73,832 393 AD 93-1 Cottonwood Hills 396,759 394 CFD 2005-5 (2012A) Wasson Canyon 138,220 500 Capital Improvement Plan 6,608,293 510 Successor Agency RDA Area I 583,515 520 Successor Agency RDA Area II 3,337,610 530 Successor Agency RDA Area III 1,390,310 540 Successor Area RDA Diamond Stadium 3,502,965 604 Endowment Trust - Korn Memorial 31,536 605 Public Improvement Trust 712,378 606 Mobile Source Air Polution Reduction 277,500 608 Trust Deposit & Pre Paid Expense 5,589,055 617 Successor Agency Housing 12,147,669 620 Cost Recovery System 2,994,108 631 Lake Destratification Equipment Replacement 194,066 Total Pooled Cash & Investments 73,083,653$ Yield Purchase Date Maturity Rate 0.821%Daily 24-Hour Agency Beginning Balance Net Increase/(Decrease)Ending Balance City 18,542,326$ -$ 18,542,326$ City for the PFA -$ -$ -$ Successor Agency 8,403,663$ -$ 8,403,663$ Total Investments Held with Local Agency Investment Fund:26,945,989$ -$ 26,945,989$ Note: Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit shall be maintained. LAIF accounts are subject to a $65 million cap per agency. C I T Y O F L A K E E L S I N O R E LOCAL AGENCY INVESTMENT FUND TRANSACTION SUMMARY FOR THE MONTH ENDING MARCH 31, 2017 BANK DEPOSITS OUTSTANDING BOOK CASH ACCOUNTS BALANCE IN TRANSIT CHECKS BALANCE Bank Accounts: General Checking Account 3,306,581$ 80,685$ (406,966)$ 2,980,301$ Cash On Hand: Cashier Drawers #1 & #2 - - - 300 City of Lake Elsinore Petty Cash Fund - - - 1,000 Total Cash Accounts 3,306,581 80,685 (406,966) 2,981,601 INVESTMENTS City Investments: City Local Agency Investment Fund 18,574,656 - - 18,574,656 City Local Agency Investment Fund for the PFA - - - - City CAMP Investments: CAMP Pool Account 123,528 - - 123,528 U.S. Treasury Bond / Note 10,125,476 - - 10,125,476 Municipal Bond / Note 290,464 - - 290,464 Federal Agency Collateralized Mortgage Obligation 523,989 - - 523,989 Federal Agency Bond / Note 6,731,466 - - 6,731,466 Corporate Note 7,098,552 - - 7,098,552 Commercial Paper 621,031 - - 621,031 Certificate of Deposit 4,649,552 - - 4,649,552 Housing CAMP Investments: Housing CAMP Pool Account 131,915 - - 131,915 Housing U.S. Treasury Bond / Notes 1,714,228 - - 1,714,228 Housing Municipal Bond / Notes 30,084 - - 30,084 Housing Federal Agency Collateralized Mortgage 94,854 - - 94,854 Housing Federal Agency Bond / Notes 1,127,682 - - 1,127,682 Housing Corporate Notes 1,320,701 - - 1,320,701 Housing Certificate of Deposit 700,000 - - 700,000 Successor Investments: Successor Local Agency Investment Fund 8,419,110 - - 8,419,110 Successor CAMP Investments: Successor CAMP Pool Account 227,323 - - 227,323 Successor U.S. Treasury Bond / Notes 1,772,046 - - 1,772,046 Successor Municipal Bond / notes 30,084 - - 30,084 Successor Federal Agency Collaterized Mortgage 94,854 - - 94,854 Successor Federal Agency Bond / Notes 1,352,501 - - 1,352,501 Successor Corporate Notes 1,144,926 - - 1,144,926 Successor Certificate of Deposit 700,000 - - 700,000 Sub-total Investments 67,599,023 - - 67,599,023 Market Value Adjustment: Unrealized Gain/ (Loss) at 06-30-16 City 441,611 - - 441,611 Unrealized Gain/ (Loss) at 06-30-16 SARDA 70,791 - - 70,791 Total Unrealized Gain/ (Loss) at 06-30-16 per GASB 31 512,402 - - 512,402 Total Investments 68,111,425 - - 68,111,425 Total Pooled Cash and Investments 71,418,007$ 80,685$ (406,966)$ 71,093,026$ TOTAL POOLED CASH AND INVESTMENTS 71,093,026$ I certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the City Council on June 16, 2016. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures. Jason P. Simpson May 15, 2017 Assistant City Manager Date C I T Y O F L A K E E L S I N O R E INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS AS OF APRIL 30, 2017 FUND NO FUND NAME AMOUNT 100 General 11,163,373$ 101 Supplemental Law Enforcement 25,000 104 Traffic Offender 7,875 106 Affordable Housing In Lieu 1,124,695 107 Developer Agreement Revenue 761,477 110 State Gas Tax 1,303,863 112 Measure A 1,657,761 114 SB1186 CASP Education Program 7,022 115 Traffic Safety 60,184 116 City Hall-Public Works DIF 1,264,049 117 Community Center DIF 448,351 118 Lake Side Facility DIF 689,683 119 Animal Shelter DIF 49,956 121 T.R.I.P.-2014A 151 135 Lighting & Landscape Maintenance - Dist. No. 1 565,322 140 Geothermal 20,205 155 CSA152 -- N.P.D.E.S.70,362 205 Traffic Impact Fee 3,944,735 211 Storm Drain C.I.P. 1,003,870 220 Street Lighting C.I.P.11,000 231 Library C.I.P. 1,741,304 232 City Fire Protection 167,782 254 Railroad Canyon Improvement Area 89-1 126,253 300 Insurance Service 937,373 305 Information Systems Service 49,696 310 Support Service 5,698 315 Fleet Service 299,978 320 Facilities Service 587,711 331 CFD 2006-1CC Summerly Improvement Area CC 4,411 332 CFD 2006-1 Improvement Area B, Summerly 29,741 334 CFD 2015-5 Trieste - Far West Industries 5,846 336 CFD 2006-1FF Summerly Improvement Area FF 24,936 337 CFD 2016-2 Canyon Hills 9,415 345 CFD 2003-2S Improvement Area D, Canyon Hills 315,899 346 CFD 2014-1 Southshore 64,044 347 CFD 2006-1 Improvement Area A, Summerly 30,684 350 CFD 98-1 Summerhill 902,051 352 AD 86-1 Northwest Sewer 659,115 354 CFD 90-2 Tuscany Hills 934,923 357 CFD 2003-2 Canyon Hills Improvement Area 246,227 366 CFD 2005-6 City Center Townhomes Debt Service 85,917 C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF APRIL 30, 2017 FUND NO FUND NAME AMOUNT C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF APRIL 30, 2017 368 CFD 2006-2 Viscaya 140,132 369 CFD 2004-3 Area 1 Rosetta Canyon Improvement Area 319,956 371 CFD 2005-1 Serenity 153,587 372 CFD 2005-2 Alberhill Ranch Improvement Area 234,727 374 CFD 2005-4 Lakeview Villas 48,304 375 CFD 2006-4 Clurman Debt Service 12,301 376 CFD 2006-3 La Strada 12,440 377 CFD 2006-6 Tessara 5,753 378 CFD 2006-8 Running Deer Estates 42,995 384 CFD 2003-2 Area B Canyon Hills Improvement Area 279,522 385 CFD 2004-3 Area 2 Rosetta Canyon Improvement Area 379,009 386 CFD 2007-4 Mekenna Court 34,750 387 CFD 2007-5 Red Kite 63,891 388 CFD 2007-6 Holiday Inn Express 3,667 389 CFD 88-3 (2008A) West Lake Elsinore Series A 745,560 390 CFD 2003-2 Area C Canyon Hills Improvement Area 95,831 392 CFD 95-1 City Center 73,033 393 AD 93-1 Cottonwood Hills 395,628 394 CFD 2005-5 (2012A) Wasson Canyon 138,307 500 Capital Improvement Plan 6,894,070 510 Successor Agency RDA Area I 585,779 520 Successor Agency RDA Area II 2,849,996 530 Successor Agency RDA Area III 1,396,103 540 Successor Area RDA Diamond Stadium 3,255,770 604 Endowment Trust - Korn Memorial 31,660 605 Public Improvement Trust 715,176 606 Mobile Source Air Polution Reduction 278,538 608 Trust Deposit & Pre Paid Expense 5,597,388 617 Successor Agency Housing 12,075,298 620 Cost Recovery System 2,628,497 631 Lake Destratification Equipment Replacement 194,858 650 CFD 2003-1 Law & Fire Service 2,559 Total Pooled Cash & Investments 71,093,026$ Yield Purchase Date Maturity Rate 0.884%Daily 24-Hour Agency Beginning Balance Net Increase/(Decrease)Ending Balance City 18,542,326$ 32,330$ 18,574,656$ City for the PFA -$ -$ -$ Successor Agency 8,403,663$ 15,448$ 8,419,110$ Total Investments Held with Local Agency Investment Fund:26,945,989$ 47,777$ 26,993,766$ Note: Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit shall be maintained. LAIF accounts are subject to a $65 million cap per agency. C I T Y O F L A K E E L S I N O R E LOCAL AGENCY INVESTMENT FUND TRANSACTION SUMMARY FOR THE MONTH ENDING APRIL 30, 2017 BANK DEPOSITS OUTSTANDING BOOK CASH ACCOUNTS BALANCE IN TRANSIT CHECKS BALANCE Bank Accounts: General Checking Account 2,938,996$ 371,547$ (920,497)$ 2,390,046$ Cash On Hand: Cashier Drawers #1 & #2 - - - 300 City of Lake Elsinore Petty Cash Fund - - - 1,000 Total Cash Accounts 2,938,996 371,547 (920,497) 2,391,346 INVESTMENTS City Investments: City Local Agency Investment Fund 32,574,656 - - 32,574,656 City Local Agency Investment Fund for the PFA - - - - City CAMP Investments: CAMP Pool Account 202,312 - - 202,312 U.S. Treasury Bond / Note 9,874,253 - - 9,874,253 Municipal Bond / Note 290,464 - - 290,464 Federal Agency Collateralized Mortgage Obligation 505,060 - - 505,060 Federal Agency Bond / Note 6,931,088 - - 6,931,088 Corporate Note 7,248,465 - - 7,248,465 Commercial Paper 621,031 - - 621,031 Certificate of Deposit 4,649,552 - - 4,649,552 Housing CAMP Investments: Housing CAMP Pool Account 143,009 - - 143,009 Housing U.S. Treasury Bond / Notes 1,714,228 - - 1,714,228 Housing Municipal Bond / Notes 30,084 - - 30,084 Housing Federal Agency Collateralized Mortgage 91,598 - - 91,598 Housing Federal Agency Bond / Notes 1,127,682 - - 1,127,682 Housing Corporate Notes 1,345,687 - - 1,345,687 Housing Certificate of Deposit 700,000 - - 700,000 Successor Investments: Successor Local Agency Investment Fund 8,419,110 - - 8,419,110 Successor CAMP Investments: Successor CAMP Pool Account 190,311 - - 190,311 Successor U.S. Treasury Bond / Notes 1,772,046 - - 1,772,046 Successor Municipal Bond / notes 30,084 - - 30,084 Successor Federal Agency Collaterized Mortgage 91,598 - - 91,598 Successor Federal Agency Bond / Notes 1,402,407 - - 1,402,407 Successor Corporate Notes 1,169,912 - - 1,169,912 Successor Certificate of Deposit 700,000 - - 700,000 Sub-total Investments 81,824,636 - - 81,824,636 Market Value Adjustment: Unrealized Gain/ (Loss) at 06-30-16 City 441,611 - - 441,611 Unrealized Gain/ (Loss) at 06-30-16 SARDA 70,791 - - 70,791 Total Unrealized Gain/ (Loss) at 06-30-16 per GASB 31 512,402 - - 512,402 Total Investments 82,337,038 - - 82,337,038 Total Pooled Cash and Investments 85,276,034$ 371,547$ (920,497)$ 84,728,384$ TOTAL POOLED CASH AND INVESTMENTS 84,728,384$ I certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the City Council on June 16, 2016. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures. Jason P. Simpson June 12, 2017 Assistant City Manager Date C I T Y O F L A K E E L S I N O R E INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS AS OF MAY 31, 2017 FUND NO FUND NAME AMOUNT 100 General 14,465,192$ 101 Supplemental Law Enforcement 25,000 104 Traffic Offender 10,250 106 Affordable Housing In Lieu 1,268,099 107 Developer Agreement Revenue 791,477 110 State Gas Tax 1,434,112 112 Measure A 1,204,045 114 SB1186 CASP Education Program 7,281 115 Traffic Safety 134,066 116 City Hall-Public Works DIF 1,282,656 117 Community Center DIF 460,886 118 Lake Side Facility DIF 707,600 119 Animal Shelter DIF 57,960 121 T.R.I.P.-2014A 151 130 Lighting & Landscape Maintenance Fund - City-wide 201,662 135 Lighting & Landscape Maintenance - Dist. No. 1 732,940 140 Geothermal 20,205 155 CSA152 -- N.P.D.E.S.69,804 205 Traffic Impact Fee 4,014,382 211 Storm Drain C.I.P. 1,098,100 220 Street Lighting C.I.P.33,000 231 Library C.I.P. 1,752,854 232 City Fire Protection 185,055 254 Railroad Canyon Improvement Area 89-1 126,253 300 Insurance Service 937,373 315 Fleet Service 211,988 320 Facilities Service 535,703 331 CFD 2006-1CC Summerly Improvement Area CC 70,258 332 CFD 2006-1 Improvement Area B, Summerly 109,254 334 CFD 2015-5 Trieste - Far West Industries 5,846 336 CFD 2006-1FF Summerly Improvement Area FF 47,037 337 CFD 2016-2 Canyon Hills 9,415 345 CFD 2003-2S Improvement Area D, Canyon Hills 1,137,165 346 CFD 2014-1 Southshore 64,044 347 CFD 2006-1 Improvement Area A, Summerly 136,434 350 CFD 98-1 Summerhill 1,442,608 352 AD 86-1 Northwest Sewer 659,115 354 CFD 90-2 Tuscany Hills 1,723,207 357 CFD 2003-2 Canyon Hills Improvement Area 647,914 366 CFD 2005-6 City Center Townhomes Debt Service 183,142 368 CFD 2006-2 Viscaya 330,920 C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF MAY 31, 2017 FUND NO FUND NAME AMOUNT C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF MAY 31, 2017 369 CFD 2004-3 Area 1 Rosetta Canyon Improvement Area 1,029,589 371 CFD 2005-1 Serenity 475,015 372 CFD 2005-2 Alberhill Ranch Improvement Area 902,111 374 CFD 2005-4 Lakeview Villas 53,361 375 CFD 2006-4 Clurman Debt Service 17,358 376 CFD 2006-3 La Strada 12,055 377 CFD 2006-6 Tessara 10,773 378 CFD 2006-8 Running Deer Estates 48,014 384 CFD 2003-2 Area B Canyon Hills Improvement Area 1,115,216 385 CFD 2004-3 Area 2 Rosetta Canyon Improvement Area 1,179,018 386 CFD 2007-4 Mekenna Court 39,769 387 CFD 2007-5 Red Kite 71,016 388 CFD 2007-6 Holiday Inn Express 9,525 389 CFD 88-3 (2008A) West Lake Elsinore Series A 1,943,869 390 CFD 2003-2 Area C Canyon Hills Improvement Area 461,037 392 CFD 95-1 City Center 151,211 393 AD 93-1 Cottonwood Hills 1,119,425 394 CFD 2005-5 (2012A) Wasson Canyon 260,955 500 Capital Improvement Plan 8,896,791 510 Successor Agency RDA Area I 1,299,330 520 Successor Agency RDA Area II 2,844,398 530 Successor Agency RDA Area III 1,393,218 540 Successor Area RDA Diamond Stadium 2,637,780 604 Endowment Trust - Korn Memorial 31,660 605 Public Improvement Trust 715,176 606 Mobile Source Air Polution Reduction 298,780 608 Trust Deposit & Pre Paid Expense 5,360,055 617 Successor Agency Housing 11,335,220 620 Cost Recovery System 2,490,444 631 Lake Destratification Equipment Replacement 191,762 Total Pooled Cash & Investments 84,728,384$ Yield Purchase Date Maturity Rate 0.925%Daily 24-Hour Agency Beginning Balance Net Increase/(Decrease)Ending Balance City 18,574,656$ 14,000,000$ 32,574,656$ City for the PFA -$ -$ -$ Successor Agency 8,419,110$ -$ 8,419,110$ Total Investments Held with Local Agency Investment Fund:26,993,766$ 14,000,000$ 40,993,766$ Note: Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit shall be maintained. LAIF accounts are subject to a $65 million cap per agency. C I T Y O F L A K E E L S I N O R E LOCAL AGENCY INVESTMENT FUND TRANSACTION SUMMARY FOR THE MONTH ENDING MAY 31, 2017 BANK DEPOSITS OUTSTANDING BOOK CASH ACCOUNTS BALANCE IN TRANSIT CHECKS BALANCE Bank Accounts: General Checking Account 3,269,683$ 51,446$ (1,229,395)$ 2,091,734$ Cash On Hand: Cashier Drawers #1 & #2 - - - 300 City of Lake Elsinore Petty Cash Fund - - - 1,000 Total Cash Accounts 3,269,683 51,446 (1,229,395) 2,093,034 INVESTMENTS City Investments: City Local Agency Investment Fund 36,574,656 - - 36,574,656 City Local Agency Investment Fund for the PFA - - - - City CAMP Investments: CAMP Pool Account 70,934 - - 70,934 U.S. Treasury Bond / Note 10,732,484 - - 10,732,484 Municipal Bond / Note 290,464 - - 290,464 Federal Agency Collateralized Mortgage Obligation 493,050 - - 493,050 Federal Agency Bond / Note 6,931,088 - - 6,931,088 Corporate Note 6,449,016 - - 6,449,016 Commercial Paper 621,031 - - 621,031 Certificate of Deposit 4,649,552 - - 4,649,552 Housing CAMP Investments: Housing CAMP Pool Account 46,352 - - 46,352 Housing U.S. Treasury Bond / Notes 1,992,225 - - 1,992,225 Housing Municipal Bond / Notes 30,084 - - 30,084 Housing Federal Agency Collateralized Mortgage 89,486 - - 89,486 Housing Federal Agency Bond / Notes 1,127,682 - - 1,127,682 Housing Corporate Notes 1,145,666 - - 1,145,666 Housing Certificate of Deposit 700,000 - - 700,000 Successor Investments: Successor Local Agency Investment Fund 8,419,110 - - 8,419,110 Successor CAMP Investments: Successor CAMP Pool Account 17,792 - - 17,792 Successor U.S. Treasury Bond / Notes 1,999,498 - - 1,999,498 Successor Municipal Bond / notes 30,084 - - 30,084 Successor Federal Agency Collaterized Mortgage 89,486 - - 89,486 Successor Federal Agency Bond / Notes 1,402,407 - - 1,402,407 Successor Corporate Notes 1,095,341 - - 1,095,341 Successor Certificate of Deposit 700,000 - - 700,000 Sub-total Investments 85,697,486 - - 85,697,486 Market Value Adjustment: Unrealized Gain/(Loss) at 06-30-16 City 441,611 - - 441,611 Unrealized Gain/(Loss) at 06-30-16 SARDA 70,791 - - 70,791 Total Unrealized Gain/(Loss) at 06-30-16 per GASB 31 512,402 - - 512,402 Total Investments 86,209,889 - - 86,209,889 Total Pooled Cash and Investments 89,479,571$ 51,446$ (1,229,395)$ 88,302,923$ TOTAL POOLED CASH AND INVESTMENTS 88,302,923$ I certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the City Council on June 13, 2017. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures. Jason P. Simpson July 17, 2017 Assistant City Manager Date C I T Y O F L A K E E L S I N O R E INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS AS OF JUNE 30, 2017 FUND NO FUND NAME AMOUNT 100 General 14,537,187$ 101 Supplemental Law Enforcement 50,000 104 Traffic Offender 13,500 106 Affordable Housing In Lieu 1,446,305 107 Developer Agreement Revenue 825,477 110 State Gas Tax 1,448,686 111 TUMF C.I.P. 2,719 112 Measure A 1,356,559 114 SB1186 CASP Education Program 7,496 115 Traffic Safety 166,109 116 City Hall-Public Works DIF 1,288,311 117 Community Center DIF 460,886 118 Lake Side Facility DIF 707,600 119 Animal Shelter DIF 57,960 121 T.R.I.P.-2014A 151 135 Lighting & Landscape Maintenance - Dist. No. 1 722,813 140 Geothermal 20,205 155 CSA152 -- N.P.D.E.S.99,478 205 Traffic Impact Fee 4,325,318 211 Storm Drain C.I.P. 1,226,322 220 Street Lighting C.I.P.53,000 231 Library C.I.P. 1,760,429 232 City Fire Protection 210,663 254 Railroad Canyon Improvement Area 89-1 126,253 300 Insurance Service 139,785 315 Fleet Service 121,553 320 Facilities Service 502,373 331 CFD 2006-1CC Summerly Improvement Area CC 70,258 332 CFD 2006-1 Improvement Area B, Summerly 109,254 334 CFD 2015-5 Trieste - Far West Industries 5,846 336 CFD 2006-1FF Summerly Improvement Area FF 44,982 337 CFD 2016-2 Canyon Hills 9,415 345 CFD 2003-2S Improvement Area D, Canyon Hills 1,137,165 346 CFD 2014-1 Southshore 64,044 347 CFD 2006-1 Improvement Area A, Summerly 136,434 350 CFD 98-1 Summerhill 1,442,608 352 AD 86-1 Northwest Sewer 659,115 354 CFD 90-2 Tuscany Hills 1,723,207 357 CFD 2003-2 Canyon Hills Improvement Area 647,914 366 CFD 2005-6 City Center Townhomes Debt Service 183,142 368 CFD 2006-2 Viscaya 330,920 C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF JUNE 30, 2017 FUND NO FUND NAME AMOUNT C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF JUNE 30, 2017 369 CFD 2004-3 Area 1 Rosetta Canyon Improvement Area 1,029,589 371 CFD 2005-1 Serenity 475,015 372 CFD 2005-2 Alberhill Ranch Improvement Area 902,111 374 CFD 2005-4 Lakeview Villas 53,361 375 CFD 2006-4 Clurman Debt Service 17,358 376 CFD 2006-3 La Strada 12,055 377 CFD 2006-6 Tessara 10,773 378 CFD 2006-8 Running Deer Estates 48,014 384 CFD 2003-2 Area B Canyon Hills Improvement Area 1,115,216 385 CFD 2004-3 Area 2 Rosetta Canyon Improvement Area 1,178,507 386 CFD 2007-4 Mekenna Court 32,269 387 CFD 2007-5 Red Kite 71,016 388 CFD 2007-6 Holiday Inn Express 9,525 389 CFD 88-3 (2008A) West Lake Elsinore Series A 1,943,869 390 CFD 2003-2 Area C Canyon Hills Improvement Area 461,037 392 CFD 95-1 City Center 151,211 393 AD 93-1 Cottonwood Hills 1,119,425 394 CFD 2005-5 (2012A) Wasson Canyon 260,955 500 Capital Improvement Plan 8,247,587 510 Successor Agency RDA Area I 2,761,364 520 Successor Agency RDA Area II 4,811,472 530 Successor Agency RDA Area III 2,165,814 540 Successor Area RDA Diamond Stadium 2,938,835 604 Endowment Trust - Korn Memorial 31,660 605 Public Improvement Trust 715,176 606 Mobile Source Air Polution Reduction 269,646 608 Trust Deposit & Pre Paid Expense 5,077,343 617 Successor Agency Housing 11,322,151 620 Cost Recovery System 2,542,473 631 Lake Destratification Equipment Replacement 286,654 Total Pooled Cash & Investments 88,302,923$ Yield Purchase Date Maturity Rate 0.978%Daily 24-Hour Agency Beginning Balance Net Increase/(Decrease)Ending Balance City 32,574,656$ 4,000,000$ 36,574,656$ City for the PFA -$ -$ -$ Successor Agency 8,419,110$ -$ 8,419,110$ Total Investments Held with Local Agency Investment Fund:40,993,766$ 4,000,000$ 44,993,766$ Note: Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit shall be maintained. LAIF accounts are subject to a $65 million cap per agency. C I T Y O F L A K E E L S I N O R E LOCAL AGENCY INVESTMENT FUND TRANSACTION SUMMARY FOR THE MONTH ENDING JUNE 30, 2017 BANK DEPOSITS OUTSTANDING BOOK CASH ACCOUNTS BALANCE IN TRANSIT CHECKS BALANCE Bank Accounts: General Checking Account 1,375,467$ 161,216$ (725,848)$ 810,835$ Cash On Hand: Cashier Drawers #1 & #2 - - - 300 City of Lake Elsinore Petty Cash Fund - - - 1,000 Total Cash Accounts 1,375,467 161,216 (725,848) 812,135 INVESTMENTS City Investments: City Local Agency Investment Fund 36,634,037 - - 36,634,037 City Local Agency Investment Fund for the PFA - - - - City CAMP Investments: CAMP Pool Account 85,989 - - 85,989 U.S. Treasury Bond / Note 11,889,447 - - 11,889,447 Municipal Bond / Note 290,464 - - 290,464 Federal Agency Collateralized Mortgage Obligation 465,513 - - 465,513 Federal Agency Bond / Note 5,800,544 - - 5,800,544 Corporate Note 6,449,016 - - 6,449,016 Commercial Paper 621,031 - - 621,031 Certificate of Deposit 4,649,552 - - 4,649,552 Housing CAMP Investments: Housing CAMP Pool Account 34,350 - - 34,350 Housing U.S. Treasury Bond / Notes 2,092,831 - - 2,092,831 Housing Municipal Bond / Notes 30,084 - - 30,084 Housing Federal Agency Collateralized Mortgage 84,584 - - 84,584 Housing Federal Agency Bond / Notes 1,047,567 - - 1,047,567 Housing Corporate Notes 1,145,666 - - 1,145,666 Housing Certificate of Deposit 700,000 - - 700,000 Successor Investments: Successor Local Agency Investment Fund 8,438,499 - - 8,438,499 Successor CAMP Investments: Successor CAMP Pool Account 23,895 - - 23,895 Successor U.S. Treasury Bond / Notes 2,033,943 - - 2,033,943 Successor Municipal Bond / notes 30,084 - - 30,084 Successor Federal Agency Collaterized Mortgage 84,584 - - 84,584 Successor Federal Agency Bond / Notes 1,367,280 - - 1,367,280 Successor Corporate Notes 1,095,341 - - 1,095,341 Successor Certificate of Deposit 700,000 - - 700,000 Sub-total Investments 85,794,300 - - 85,794,300 Market Value Adjustment: Unrealized Gain/(Loss) at 06-30-16 City 441,611 - - 441,611 Unrealized Gain/(Loss) at 06-30-16 SARDA 70,791 - - 70,791 Total Unrealized Gain/(Loss) at 06-30-16 per GASB 31 512,402 - - 512,402 Total Investments 86,306,702 - - 86,306,702 Total Pooled Cash and Investments 87,682,169$ 161,216$ (725,848)$ 87,118,837$ TOTAL POOLED CASH AND INVESTMENTS 87,118,837$ I certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the City Council on June 13, 2017. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures. Jason P. Simpson August 15, 2017 Assistant City Manager Date C I T Y O F L A K E E L S I N O R E INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS AS OF JULY 31, 2017 FUND NO FUND NAME AMOUNT 100 General 14,907,597$ 101 Supplemental Law Enforcement 50,000 104 Traffic Offender 15,250 106 Affordable Housing In Lieu 1,599,635 107 Developer Agreement Revenue 451,833 110 State Gas Tax 1,403,266 111 TUMF C.I.P. 2,719 112 Measure A 1,361,716 114 SB1186 CASP Education Program 7,532 115 Traffic Safety 166,507 116 City Hall-Public Works DIF 1,303,687 117 Community Center DIF 469,704 118 Lake Side Facility DIF 720,390 119 Animal Shelter DIF 62,690 121 T.R.I.P.-2014A 182 135 Lighting & Landscape Maintenance - Dist. No. 1 719,809 140 Geothermal 20,283 155 CSA152 -- N.P.D.E.S.71,632 205 Traffic Impact Fee 4,409,138 211 Storm Drain C.I.P. 1,243,253 220 Street Lighting C.I.P.53,113 231 Library C.I.P. 1,778,042 232 City Fire Protection 221,119 254 Railroad Canyon Improvement Area 89-1 126,253 300 Insurance Service 136,198 320 Facilities Service 452,912 331 CFD 2006-1CC Summerly Improvement Area CC 70,173 332 CFD 2006-1 Improvement Area B, Summerly 109,756 334 CFD 2015-5 Trieste - Far West Industries 189 336 CFD 2006-1FF Summerly Improvement Area FF 44,892 337 CFD 2016-2 Canyon Hills 9,451 345 CFD 2003-2S Improvement Area D, Canyon Hills 1,150,350 346 CFD 2014-1 Southshore 64,288 347 CFD 2006-1 Improvement Area A, Summerly 136,679 350 CFD 98-1 Summerhill 1,464,489 352 AD 86-1 Northwest Sewer 659,115 354 CFD 90-2 Tuscany Hills 1,760,013 357 CFD 2003-2 Canyon Hills Improvement Area 662,394 366 CFD 2005-6 City Center Townhomes Debt Service 184,616 368 CFD 2006-2 Viscaya 331,146 369 CFD 2004-3 Area 1 Rosetta Canyon Improvement Area 1,049,704 C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF JULY 31, 2017 FUND NO FUND NAME AMOUNT C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF JULY 31, 2017 371 CFD 2005-1 Serenity 483,946 372 CFD 2005-2 Alberhill Ranch Improvement Area 920,227 374 CFD 2005-4 Lakeview Villas 53,341 375 CFD 2006-4 Clurman Debt Service 17,201 376 CFD 2006-3 La Strada 11,675 377 CFD 2006-6 Tessara 10,547 378 CFD 2006-8 Running Deer Estates 47,931 384 CFD 2003-2 Area B Canyon Hills Improvement Area 1,131,608 385 CFD 2004-3 Area 2 Rosetta Canyon Improvement Area 1,196,351 386 CFD 2007-4 Mekenna Court 24,215 387 CFD 2007-5 Red Kite 70,846 388 CFD 2007-6 Holiday Inn Express 9,550 389 CFD 88-3 (2008A) West Lake Elsinore Series A 1,969,113 390 CFD 2003-2 Area C Canyon Hills Improvement Area 463,567 392 CFD 95-1 City Center 150,941 393 AD 93-1 Cottonwood Hills 1,133,544 394 CFD 2005-5 (2012A) Wasson Canyon 265,235 500 Capital Improvement Plan 7,720,179 510 Successor Agency RDA Area I 1,711,486 520 Successor Agency RDA Area II 4,815,918 530 Successor Agency RDA Area III 2,165,480 540 Successor Area RDA Diamond Stadium 2,767,224 604 Endowment Trust - Korn Memorial 31,780 605 Public Improvement Trust 717,903 606 Mobile Source Air Polution Reduction 213,788 608 Trust Deposit & Pre Paid Expense 4,926,302 617 Successor Agency Housing 11,668,764 620 Cost Recovery System 2,681,022 631 Lake Destratification Equipment Replacement 287,436 Total Pooled Cash & Investments 87,118,837$ Yield Purchase Date Maturity Rate 1.051%Daily 24-Hour Agency Beginning Balance Net Increase/(Decrease)Ending Balance City 36,574,656$ 59,381$ 36,634,037$ City for the PFA -$ -$ -$ Successor Agency 8,419,110$ 19,388$ 8,438,499$ Total Investments Held with Local Agency Investment Fund:44,993,766$ 78,770$ 45,072,536$ Note: Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit shall be maintained. LAIF accounts are subject to a $65 million cap per agency. C I T Y O F L A K E E L S I N O R E LOCAL AGENCY INVESTMENT FUND TRANSACTION SUMMARY FOR THE MONTH ENDING JULY 31, 2017 BANK DEPOSITS OUTSTANDING BOOK CASH ACCOUNTS BALANCE IN TRANSIT CHECKS BALANCE Bank Accounts: General Checking Account 2,655,347$ 53,908$ (1,393,741)$ 1,315,515$ Cash On Hand: Cashier Drawers #1 & #2 - - - 300 City of Lake Elsinore Petty Cash Fund - - - 1,000 Total Cash Accounts 2,655,347 53,908 (1,393,741) 1,316,815 INVESTMENTS City Investments: City Local Agency Investment Fund 18,634,037 - - 18,634,037 City Local Agency Investment Fund for the PFA - - - - City CAMP Investments: CAMP Pool Account 99,014 - - 99,014 U.S. Treasury Bond / Note 12,422,743 - - 12,422,743 Municipal Bond / Note 290,464 - - 290,464 Federal Agency Collateralized Mortgage Obligation 422,211 - - 422,211 Federal Agency Bond / Note 5,451,132 - - 5,451,132 Corporate Note 6,449,016 - - 6,449,016 Commercial Paper - - - - Certificate of Deposit 5,214,318 - - 5,214,318 Housing CAMP Investments: Housing CAMP Pool Account 36,111 - - 36,111 Housing U.S. Treasury Bond / Notes 2,262,470 - - 2,262,470 Housing Municipal Bond / Notes 30,084 - - 30,084 Housing Federal Agency Collateralized Mortgage 76,298 - - 76,298 Housing Federal Agency Bond / Notes 798,017 - - 798,017 Housing Corporate Notes 1,145,666 - - 1,145,666 Housing Certificate of Deposit 799,961 - - 799,961 Successor Investments: Successor Local Agency Investment Fund 8,438,499 - - 8,438,499 Successor CAMP Investments: Successor CAMP Pool Account 33,199 - - 33,199 Successor U.S. Treasury Bond / Notes 2,178,267 - - 2,178,267 Successor Municipal Bond / notes 30,084 - - 30,084 Successor Federal Agency Collaterized Mortgage 76,298 - - 76,298 Successor Federal Agency Bond / Notes 1,137,254 - - 1,137,254 Successor Corporate Notes 1,095,341 - - 1,095,341 Successor Certificate of Deposit 799,961 - - 799,961 Sub-total Investments 67,920,445 - - 67,920,445 Market Value Adjustment: Unrealized Gain/(Loss) at 06-30-17 City (219,221) - - (219,221) Unrealized Gain/(Loss) at 06-30-17 SARDA (38,492) - - (38,492) Total Unrealized Gain/(Loss) at 06-30-17 per GASB 31 (257,713) - - (257,713) Total Investments 67,662,732 - - 67,662,732 Total Pooled Cash and Investments 70,318,079$ 53,908$ (1,393,741)$ 68,979,547$ TOTAL POOLED CASH AND INVESTMENTS 68,979,547$ I certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the City Council on June 13, 2017. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures. Jason P. Simpson September 15, 2017 Assistant City Manager Date C I T Y O F L A K E E L S I N O R E INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS AS OF AUGUST 31, 2017 FUND NO FUND NAME AMOUNT 100 General 9,930,114$ 106 Affordable Housing In Lieu 1,364,388 107 Developer Agreement Revenue 555,526 110 State Gas Tax 1,581,415 112 Measure A 1,541,126 114 SB1186 CASP Education Program 7,702 115 Traffic Safety 29,812 116 City Hall-Public Works DIF 1,262,288 117 Community Center DIF 473,018 118 Lake Side Facility DIF 725,573 119 Animal Shelter DIF 69,084 121 T.R.I.P.-2014A 131 135 Lighting & Landscape Maintenance - Dist. No. 1 698,592 140 Geothermal 19,971 155 CSA152 -- N.P.D.E.S.68,687 205 Traffic Impact Fee 4,299,498 211 Storm Drain C.I.P. 1,276,782 220 Street Lighting C.I.P.52,999 231 Library C.I.P. 1,756,699 232 City Fire Protection 234,480 254 Railroad Canyon Improvement Area 89-1 126,253 300 Insurance Service 210,976 320 Facilities Service 410,372 332 CFD 2006-1 Improvement Area B, Summerly 19,913 336 CFD 2006-1FF Summerly Improvement Area FF 25,871 337 CFD 2016-2 Canyon Hills 9,394 345 CFD 2003-2S Improvement Area D, Canyon Hills 534,594 346 CFD 2014-1 Southshore 63,302 347 CFD 2006-1 Improvement Area A, Summerly 24,473 350 CFD 98-1 Summerhill 696,730 352 AD 86-1 Northwest Sewer 659,115 354 CFD 90-2 Tuscany Hills 1,756,433 357 CFD 2003-2 Canyon Hills Improvement Area 111,270 366 CFD 2005-6 City Center Townhomes Debt Service 71,217 368 CFD 2006-2 Viscaya 96,482 369 CFD 2004-3 Area 1 Rosetta Canyon Improvement Area 133,881 371 CFD 2005-1 Serenity 61,879 372 CFD 2005-2 Alberhill Ranch Improvement Area 80,742 374 CFD 2005-4 Lakeview Villas 52,179 375 CFD 2006-4 Clurman Debt Service 16,518 376 CFD 2006-3 La Strada 10,540 C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF AUGUST 31, 2017 FUND NO FUND NAME AMOUNT C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF AUGUST 31, 2017 377 CFD 2006-6 Tessara 9,883 378 CFD 2006-8 Running Deer Estates 46,702 384 CFD 2003-2 Area B Canyon Hills Improvement Area 215,101 385 CFD 2004-3 Area 2 Rosetta Canyon Improvement Area 352,621 386 CFD 2007-4 Mekenna Court 23,497 387 CFD 2007-5 Red Kite 68,970 388 CFD 2007-6 Holiday Inn Express 3,623 390 CFD 2003-2 Area C Canyon Hills Improvement Area 75,400 392 CFD 95-1 City Center 37,224 393 AD 93-1 Cottonwood Hills 70,950 394 CFD 2005-5 (2012A) Wasson Canyon 140,046 500 Capital Improvement Plan 6,878,457 520 Successor Agency RDA Area II 4,751,476 530 Successor Agency RDA Area III 2,135,317 540 Successor Area RDA Diamond Stadium 2,651,960 604 Endowment Trust - Korn Memorial 31,293 605 Public Improvement Trust 705,717 606 Mobile Source Air Polution Reduction 229,669 608 Trust Deposit & Pre Paid Expense 4,906,776 617 Successor Agency Housing 11,658,866 620 Cost Recovery System 2,555,276 631 Lake Destratification Equipment Replacement 284,125 Total Pooled Cash & Investments 68,979,547$ Yield Purchase Date Maturity Rate 1.084%Daily 24-Hour Agency Beginning Balance Net Increase/(Decrease)Ending Balance City 36,634,037$ (18,000,000)$ 18,634,037$ Successor Agency 8,438,499$ -$ 8,438,499$ Total Investments Held with Local Agency Investment Fund:45,072,536$ (18,000,000)$ 27,072,536$ Note: Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit shall be maintained. LAIF accounts are subject to a $65 million cap per agency. C I T Y O F L A K E E L S I N O R E LOCAL AGENCY INVESTMENT FUND TRANSACTION SUMMARY FOR THE MONTH ENDING AUGUST 31, 2017 BANK DEPOSITS OUTSTANDING BOOK CASH ACCOUNTS BALANCE IN TRANSIT CHECKS BALANCE Bank Accounts: General Checking Account 2,886,371$ 222,845$ (1,025,694)$ 2,083,521$ Cash On Hand: Cashier Drawers #1 & #2 - - - 300 City of Lake Elsinore Petty Cash Fund - - - 1,000 Total Cash Accounts 2,886,371 222,845 (1,025,694) 2,084,821 INVESTMENTS City Investments: City Local Agency Investment Fund 14,834,037 - - 14,834,037 City Local Agency Investment Fund for the PFA - - - - City CAMP Investments: CAMP Pool Account 166,856 - - 166,856 U.S. Treasury Bond / Note 11,119,620 - - 11,119,620 Supra-National Agency Bond / Note 748,200 748,200 Municipal Bond / Note 290,464 - - 290,464 Federal Agency Collateralized Mortgage Obligation 342,850 - - 342,850 Federal Agency Bond / Note 5,605,635 - - 5,605,635 Corporate Note 6,873,827 - - 6,873,827 Commercial Paper - - - - Certificate of Deposit 5,214,318 - - 5,214,318 Housing CAMP Investments: Housing CAMP Pool Account 59,644 - - 59,644 Housing U.S. Treasury Bond / Notes 1,982,287 - - 1,982,287 Housing Supra-National Agency Bond 124,700 124,700 Housing Municipal Bond / Notes 30,084 - - 30,084 Housing Federal Agency Collateralized Mortgage 61,667 - - 61,667 Housing Federal Agency Bond / Notes 872,777 - - 872,777 Housing Corporate Notes 1,220,632 - - 1,220,632 Housing Certificate of Deposit 799,961 - - 799,961 Successor Investments: Successor Local Agency Investment Fund 8,438,499 - - 8,438,499 Successor CAMP Investments: Successor CAMP Pool Account 56,883 - - 56,883 Successor U.S. Treasury Bond / Notes 1,917,145 - - 1,917,145 Successor Supra-National Agency Bond 149,640 149,640 Successor Municipal Bond / Notes 30,084 - - 30,084 Successor Federal Agency Collaterized Mortgage 61,667 - - 61,667 Successor Federal Agency Bond / Notes 1,167,157 - - 1,167,157 Successor Corporate Notes 1,170,307 - - 1,170,307 Successor Certificate of Deposit 799,961 - - 799,961 Sub-total Investments 64,138,904 - - 64,138,904 Market Value Adjustment: Unrealized Gain/(Loss) at 06-30-17 City (219,221) - - (219,221) Unrealized Gain/(Loss) at 06-30-17 SARDA (38,492) - - (38,492) Total Unrealized Gain/(Loss) at 06-30-17 per GASB 31 (257,713) - - (257,713) Total Investments 63,881,191 - - 63,881,191 Total Pooled Cash and Investments 66,767,561$ 222,845$ (1,025,694)$ 65,966,012$ TOTAL POOLED CASH AND INVESTMENTS 65,966,012$ I certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the City Council on June 13, 2017. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures. Jason P. Simpson October 13, 2017 Assistant City Manager Date C I T Y O F L A K E E L S I N O R E INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS AS OF SEPTEMBER 30, 2017 FUND NO FUND NAME AMOUNT 100 General 9,473,003$ 106 Affordable Housing In Lieu 1,420,294 107 Developer Agreement Revenue 555,526 110 State Gas Tax 1,634,164 112 Measure A 1,541,126 114 SB1186 CASP Education Program 7,854 115 Traffic Safety 29,812 116 City Hall-Public Works DIF 1,270,378 117 Community Center DIF 478,468 118 Lake Side Facility DIF 733,363 119 Animal Shelter DIF 72,564 121 T.R.I.P.-2014A 131 135 Lighting & Landscape Maintenance - Dist. No. 1 687,455 140 Geothermal 19,971 155 CSA152 -- N.P.D.E.S.68,687 205 Traffic Impact Fee 4,386,233 211 Storm Drain C.I.P. 1,276,782 220 Street Lighting C.I.P.74,999 231 Library C.I.P. 1,768,249 232 City Fire Protection 241,990 254 Railroad Canyon Improvement Area 89-1 126,253 300 Insurance Service 207,557 320 Facilities Service 550,409 332 CFD 2006-1 Improvement Area B, Summerly 17,113 336 CFD 2006-1FF Summerly Improvement Area FF 25,871 337 CFD 2016-2 Canyon Hills 9,394 345 CFD 2003-2S Improvement Area D, Canyon Hills 531,794 346 CFD 2014-1 Southshore 63,302 347 CFD 2006-1 Improvement Area A, Summerly 21,673 350 CFD 98-1 Summerhill 693,930 352 AD 86-1 Northwest Sewer 659,115 354 CFD 90-2 Tuscany Hills 809,888 357 CFD 2003-2 Canyon Hills Improvement Area 109,170 366 CFD 2005-6 City Center Townhomes Debt Service 69,642 368 CFD 2006-2 Viscaya 94,907 369 CFD 2004-3 Area 1 Rosetta Canyon Improvement Area 132,306 371 CFD 2005-1 Serenity 60,304 372 CFD 2005-2 Alberhill Ranch Improvement Area 79,167 374 CFD 2005-4 Lakeview Villas 52,179 375 CFD 2006-4 Clurman Debt Service 16,518 376 CFD 2006-3 La Strada 10,540 C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF SEPTEMBER 30, 2017 FUND NO FUND NAME AMOUNT C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF SEPTEMBER 30, 2017 377 CFD 2006-6 Tessara 9,883 378 CFD 2006-8 Running Deer Estates 46,702 384 CFD 2003-2 Area B Canyon Hills Improvement Area 213,526 385 CFD 2004-3 Area 2 Rosetta Canyon Improvement Area 351,046 386 CFD 2007-4 Mekenna Court 23,497 387 CFD 2007-5 Red Kite 68,970 388 CFD 2007-6 Holiday Inn Express 3,623 390 CFD 2003-2 Area C Canyon Hills Improvement Area 70,500 392 CFD 95-1 City Center 35,649 393 AD 93-1 Cottonwood Hills 68,150 394 CFD 2005-5 (2012A) Wasson Canyon 137,246 500 Capital Improvement Plan 4,983,881 520 Successor Agency RDA Area II 4,751,476 530 Successor Agency RDA Area III 2,135,317 540 Successor Area RDA Diamond Stadium 2,532,806 603 Endowment Trust - Carl Graves 963,064 604 Endowment Trust - Korn Memorial 31,293 605 Public Improvement Trust 705,717 606 Mobile Source Air Polution Reduction 315,721 608 Trust Deposit & Pre Paid Expense 4,912,825 617 Successor Agency Housing 11,651,869 620 Cost Recovery System 1,589,831 631 Lake Destratification Equipment Replacement 281,340 Total Pooled Cash & Investments 65,966,012$ Yield Purchase Date Maturity Rate 1.111%Daily 24-Hour Agency Beginning Balance Net Increase/(Decrease)Ending Balance City 18,634,037$ (3,800,000)$ 14,834,037$ Successor Agency 8,438,499$ -$ 8,438,499$ Total Investments Held with Local Agency Investment Fund:27,072,536$ (3,800,000)$ 23,272,536$ Note: Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit shall be maintained. LAIF accounts are subject to a $65 million cap per agency. C I T Y O F L A K E E L S I N O R E LOCAL AGENCY INVESTMENT FUND TRANSACTION SUMMARY FOR THE MONTH ENDING SEPTEMBER 30, 2017 BANK DEPOSITS OUTSTANDING BOOK CASH ACCOUNTS BALANCE IN TRANSIT CHECKS BALANCE Bank Accounts: General Checking Account 3,565,095$ 175,325$ (392,513)$ 3,347,907$ Cash On Hand: Cashier Drawers #1 & #2 - - - 300 City of Lake Elsinore Petty Cash Fund - - - 1,000 Total Cash Accounts 3,565,095 175,325 (392,513) 3,349,207 INVESTMENTS City Investments: City Local Agency Investment Fund 11,909,873 - - 11,909,873 City CAMP Investments: CAMP Pool Account 21,871 - - 21,871 U.S. Treasury Bond / Note 11,046,756 - - 11,046,756 Supra-National Agency Bond / Note 1,353,761 1,353,761 Municipal Bond / Note 290,464 - - 290,464 Federal Agency Collateralized Mortgage Obligation 323,045 - - 323,045 Federal Agency Bond / Note 4,682,363 - - 4,682,363 Corporate Note 7,448,317 - - 7,448,317 Certificate of Deposit 5,214,318 - - 5,214,318 Housing CAMP Investments: Housing CAMP Pool Account 7,928 - - 7,928 Housing U.S. Treasury Bond / Notes 1,978,326 - - 1,978,326 Housing Supra-National Agency Bond 225,627 225,627 Housing Municipal Bond / Notes 30,084 - - 30,084 Housing Federal Agency Collateralized Mortgage 58,150 - - 58,150 Housing Federal Agency Bond / Notes 747,972 - - 747,972 Housing Corporate Notes 1,305,707 - - 1,305,707 Housing Certificate of Deposit 799,961 - - 799,961 Successor Investments: Successor Local Agency Investment Fund 8,461,338 - - 8,461,338 Successor CAMP Investments: Successor CAMP Pool Account 4,742 - - 4,742 Successor U.S. Treasury Bond / Notes 1,916,939 - - 1,916,939 Successor Supra-National Agency Bond 250,567 250,567 Successor Municipal Bond / Notes 30,084 - - 30,084 Successor Federal Agency Collaterized Mortgage 58,150 - - 58,150 Successor Federal Agency Bond / Notes 1,042,397 - - 1,042,397 Successor Corporate Notes 1,255,382 - - 1,255,382 Successor Certificate of Deposit 799,961 - - 799,961 Sub-total Investments 61,264,083 - - 61,264,083 Market Value Adjustment: Unrealized Gain/(Loss) at 06-30-17 City (219,221) - - (219,221) Unrealized Gain/(Loss) at 06-30-17 SARDA (38,492) - - (38,492) Total Unrealized Gain/(Loss) at 06-30-17 per GASB 31 (257,713) - - (257,713) Total Investments 61,006,370 - - 61,006,370 Total Pooled Cash and Investments 64,571,464$ 175,325$ (392,513)$ 64,355,576$ TOTAL POOLED CASH AND INVESTMENTS 64,355,576$ I certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the City Council on June 13, 2017. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures. Jason P. Simpson November 20, 2017 Assistant City Manager Date C I T Y O F L A K E E L S I N O R E INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS AS OF OCTOBER 31, 2017 FUND NO FUND NAME AMOUNT 100 General 11,036,645$ 106 Affordable Housing In Lieu 1,467,801 107 Developer Agreement Revenue 316,653 110 State Gas Tax 915,928 112 Measure A 1,526,642 114 SB1186 CASP Education Program 9,338 115 Traffic Safety 62,955 116 City Hall-Public Works DIF 1,133,612 117 Community Center DIF 9,148 118 Lake Side Facility DIF 44,111 119 Animal Shelter DIF 62,168 121 T.R.I.P.-2014A 132 135 Lighting & Landscape Maintenance - Dist. No. 1 681,971 140 Geothermal 20,068 155 CSA152 -- N.P.D.E.S.87,464 205 Traffic Impact Fee 4,159,085 211 Storm Drain C.I.P. 1,244,493 220 Street Lighting C.I.P.75,284 221 Quimby Park C.I.P.40,466 231 Library C.I.P. 1,792,522 232 City Fire Protection 67,068 254 Railroad Canyon Improvement Area 89-1 126,253 300 Insurance Service 204,534 305 Information Systems Service 45,218 320 Facilities Service 720,656 332 CFD 2006-1 Improvement Area B, Summerly 16,861 336 CFD 2006-1FF Summerly Improvement Area FF 25,467 337 CFD 2016-2 Canyon Hills 9,440 345 CFD 2003-2 Improvement Area D, Canyon Hills 528,612 346 CFD 2014-1 Southshore 63,609 347 CFD 2006-1 Improvement Area A, Summerly 21,079 350 CFD 98-1 Summerhill 683,137 352 AD 86-1 Northwest Sewer 659,115 354 CFD 90-2 Tuscany Hills 815,888 357 CFD 2003-2 Canyon Hills Improvement Area 110,483 366 CFD 2005-6 City Center Townhomes Debt Service 69,878 368 CFD 2006-2 Viscaya 95,608 369 CFD 2004-3 Area 1 Rosetta Canyon Improvement Area 130,998 371 CFD 2005-1 Serenity 61,189 372 CFD 2005-2 Alberhill Ranch Improvement Area 81,316 374 CFD 2005-4 Lakeview Villas 52,220 C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF OCTOBER 31, 2017 FUND NO FUND NAME AMOUNT C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF OCTOBER 31, 2017 375 CFD 2006-4 Clurman Debt Service 16,386 376 CFD 2006-3 La Strada 10,166 377 CFD 2006-6 Tessara 9,677 378 CFD 2006-8 Running Deer Estates 46,674 384 CFD 2003-2 Area B Canyon Hills Improvement Area 210,441 385 CFD 2004-3 Area 2 Rosetta Canyon Improvement Area 346,434 386 CFD 2007-4 Mekenna Court 23,369 387 CFD 2007-5 Red Kite 68,880 388 CFD 2007-6 Holiday Inn Express 3,640 390 CFD 2003-2 Area C Canyon Hills Improvement Area 70,418 392 CFD 95-1 City Center 35,552 393 AD 93-1 Cottonwood Hills 68,659 394 CFD 2005-5 (2012A) Wasson Canyon 137,842 500 Capital Improvement Plan 8,005,552 510 Successor Agency RDA Area I 4,560,465 540 Successor Area RDA Diamond Stadium 2,466,047 603 Endowment Trust - Carl Graves 967,961 604 Endowment Trust - Korn Memorial 31,445 605 Public Improvement Trust 692,764 606 Mobile Source Air Polution Reduction 231,224 608 Trust Deposit & Pre Paid Expense 4,350,961 617 Successor Agency Housing 11,483,686 620 Cost Recovery System 959,501 631 Lake Destratification Equipment Replacement 282,719 Total Pooled Cash & Investments 64,355,576$ Yield Purchase Date Maturity Rate 1.143%Daily 24-Hour Agency Beginning Balance Net Increase/(Decrease)Ending Balance City 14,834,037$ (2,924,164)$ 11,909,873$ Successor Agency 8,438,499$ 22,839$ 8,461,338$ Total Investments Held with Local Agency Investment Fund:23,272,536$ (2,901,324)$ 20,371,211$ Note: Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit shall be maintained. LAIF accounts are subject to a $65 million cap per agency. C I T Y O F L A K E E L S I N O R E LOCAL AGENCY INVESTMENT FUND TRANSACTION SUMMARY FOR THE MONTH ENDING OCTOBER 31, 2017 BANK DEPOSITS OUTSTANDING BOOK CASH ACCOUNTS BALANCE IN TRANSIT CHECKS BALANCE Bank Accounts: General Checking Account 2,014,231$ 121,437$ (723,426)$ 1,412,243$ Cash On Hand: Cashier Drawers #1 & #2 - - - 300 City of Lake Elsinore Petty Cash Fund - - - 1,000 Total Cash Accounts 2,014,231 121,437 (723,426) 1,413,543 INVESTMENTS City Investments: City Local Agency Investment Fund 10,409,873 - - 10,409,873 City CAMP Investments: CAMP Pool Account 97,181 - - 97,181 U.S. Treasury Bond / Note 10,598,785 - - 10,598,785 Supra-National Agency Bond / Note 1,353,761 1,353,761 Municipal Bond / Note 290,464 - - 290,464 Federal Agency Collateralized Mortgage Obligation 261,403 - - 261,403 Federal Agency Bond / Note 4,682,363 - - 4,682,363 Corporate Note 7,915,944 - - 7,915,944 Certificate of Deposit 5,239,318 - - 5,239,318 Housing CAMP Investments: Housing CAMP Pool Account 38,237 - - 38,237 Housing U.S. Treasury Bond / Notes 1,952,612 - - 1,952,612 Housing Supra-National Agency Bond 225,627 225,627 Housing Municipal Bond / Notes 30,084 - - 30,084 Housing Federal Agency Collateralized Mortgage 46,850 - - 46,850 Housing Federal Agency Bond / Notes 698,143 - - 698,143 Housing Corporate Notes 1,370,963 - - 1,370,963 Housing Certificate of Deposit 799,961 - - 799,961 Successor Investments: Successor Local Agency Investment Fund 8,461,338 - - 8,461,338 Successor CAMP Investments: Successor CAMP Pool Account 34,462 - - 34,462 Successor U.S. Treasury Bond / Notes 1,891,476 - - 1,891,476 Successor Supra-National Agency Bond 250,567 250,567 Successor Municipal Bond / Notes 30,084 - - 30,084 Successor Federal Agency Collaterized Mortgage 46,850 - - 46,850 Successor Federal Agency Bond / Notes 992,568 - - 992,568 Successor Corporate Notes 1,320,638 - - 1,320,638 Successor Certificate of Deposit 799,961 - - 799,961 Sub-total Investments 59,839,513 - - 59,839,513 Market Value Adjustment: Unrealized Gain/(Loss) at 06-30-17 City (219,221) - - (219,221) Unrealized Gain/(Loss) at 06-30-17 SARDA (38,492) - - (38,492) Total Unrealized Gain/(Loss) at 06-30-17 per GASB 31 (257,713) - - (257,713) Total Investments 59,581,800 - - 59,581,800 Total Pooled Cash and Investments 61,596,032$ 121,437$ (723,426)$ 60,995,343$ TOTAL POOLED CASH AND INVESTMENTS 60,995,343$ I certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the City Council on June 13, 2017. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures. Jason P. Simpson December 22, 2017 Assistant City Manager Date C I T Y O F L A K E E L S I N O R E INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS AS OF NOVEMBER 30, 2017 FUND NO FUND NAME AMOUNT 100 General 8,462,429$ 106 Affordable Housing In Lieu 1,507,209 107 Developer Agreement Revenue 316,653 110 State Gas Tax 969,756 112 Measure A 1,640,750 114 SB1186 CASP Education Program 9,007 115 Traffic Safety 86,508 116 City Hall-Public Works DIF 1,133,612 117 Community Center DIF 9,148 118 Lake Side Facility DIF 44,111 119 Animal Shelter DIF 62,168 121 T.R.I.P.-2014A 132 135 Lighting & Landscape Maintenance - Dist. No. 1 670,816 140 Geothermal 20,068 155 CSA152 -- N.P.D.E.S.87,036 160 PEG Grant 5,970 205 Traffic Impact Fee 4,174,144 211 Storm Drain C.I.P. 1,244,493 220 Street Lighting C.I.P.101,284 221 Quimby Park C.I.P.40,466 231 Library C.I.P. 1,783,864 232 City Fire Protection 67,068 254 Railroad Canyon Improvement Area 89-1 126,253 300 Insurance Service 226,711 320 Facilities Service 672,420 332 CFD 2006-1 Improvement Area B, Summerly 16,262 333 CFD 2015-3 Terracina 15,935 335 CFD 2003-2E Canyon Hills Improvement Area E 51,686 336 CFD 2006-1FF Summerly Improvement Area FF 24,884 337 CFD 2016-2 Canyon Hills 9,440 338 CFD 2006-1 IA-JJ Summerly Improvement Area 8,794 339 CFD 2006-1 IA-KK Summerly Improvement Area 11,711 345 CFD 2003-2 Improvement Area D, Canyon Hills 527,429 346 CFD 2014-1 Southshore 63,609 347 CFD 2006-1 Improvement Area A, Summerly 20,053 350 CFD 98-1 Summerhill 682,538 352 AD 86-1 Northwest Sewer 659,115 354 CFD 90-2 Tuscany Hills 814,262 357 CFD 2003-2 Canyon Hills Improvement Area 109,713 366 CFD 2005-6 City Center Townhomes 69,450 368 CFD 2006-2 Viscaya 95,180 C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF NOVEMBER 30, 2017 FUND NO FUND NAME AMOUNT C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF NOVEMBER 30, 2017 369 CFD 2004-3 Area 1 Rosetta Canyon Improvement Area 130,399 371 CFD 2005-1 Serenity 60,590 372 CFD 2005-2 Alberhill Ranch Improvement Area 80,717 374 CFD 2005-4 Lakeview Villas 52,006 375 CFD 2006-4 Clurman 16,172 376 CFD 2006-3 La Strada 9,739 377 CFD 2006-6 Tessara 9,420 378 CFD 2006-8 Running Deer Estates 46,417 384 CFD 2003-2 Area B Canyon Hills Improvement Area 208,222 385 CFD 2004-3 Area 2 Rosetta Canyon Improvement Area 345,835 386 CFD 2007-4 Mekenna Court 16,650 387 CFD 2007-5 Red Kite 68,452 388 CFD 2007-6 Holiday Inn Express 3,640 390 CFD 2003-2 Area C Canyon Hills Improvement Area 68,878 392 CFD 95-1 City Center 34,953 393 AD 93-1 Cottonwood Hills 67,033 394 CFD 2005-5 (2012A) Wasson Canyon 137,415 500 Capital Improvement Plan 7,186,677 510 Successor Agency RDA Area I 4,556,395 540 Successor Area RDA Diamond Stadium 2,395,167 603 Endowment Trust - Carl Graves 968,178 604 Endowment Trust - Korn Memorial 31,445 605 Public Improvement Trust 692,764 606 Mobile Source Air Polution Reduction 225,224 608 Trust Deposit & Pre Paid Expense 4,350,461 617 Successor Agency Housing 11,302,999 620 Cost Recovery System 1,009,064 631 Lake Destratification Equipment Replacement 278,293 Total Pooled Cash & Investments 60,995,343$ Yield Purchase Date Maturity Rate 1.172%Daily 24-Hour Agency Beginning Balance Net Increase/(Decrease)Ending Balance City 11,909,873$ (1,500,000)$ 10,409,873$ Successor Agency 8,461,338$ -$ 8,461,338$ Total Investments Held with Local Agency Investment Fund:20,371,211$ (1,500,000)$ 18,871,211$ Note: Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit shall be maintained. LAIF accounts are subject to a $65 million cap per agency. C I T Y O F L A K E E L S I N O R E LOCAL AGENCY INVESTMENT FUND TRANSACTION SUMMARY FOR THE MONTH ENDING NOVEMBER 30, 2017 Text File City of Lake Elsinore 130 South Main Street Lake Elsinore, CA 92530 www.lake-elsinore.org File Number: ID# 17-507 Agenda Date: 1/29/2018 Status: Consent AgendaVersion: 1 File Type: MinutesIn Control: Oversight Board Agenda Number: 3) Page 1 City of Lake Elsinore Printed on 1/25/2018 Page 1 of 2 City of Lake Elsinore Meeting Minutes Oversight Board Monday, January 23, 2017 Call to Order The meeting was called to order by Chair Kelley at 4:00 p.m. in City Hall at 130 S. Main Street. Pledge of Allegiance The Pledge of Allegiance was led by Chair Kelley. Roll Call Present: Members P. Williams, Jeffries, Lassey, and Sanchez; Vice-Chair Tisdale and Chair Kelley Absent: Member M. Williams Presentations 1) Oath of Office - Member Sanchez Public Comments - Non Agendized Items There were no members of the public appearing to speak. Consent Calendar It was moved by Member Jeffries, seconded by Member P. Williams, and carried noting the absence of Member M. Williams, to approve the Consent Calendar. 1) Minutes of the Special Meetings of July 7th and September 29, 2016, and the Cancelled Meeting of July 27, 2016 – received and filed. 2) Investment Report – August 2016 through November 2016 – received and filed. Business Items 3) Recognized Obligation Payment Schedule (ROPS 17-18) For July 1, 2017, Through June 30, 2018 City Attorney Leibold presented the Staff Report. It was moved by Member Jeffries, seconded by Member Tisdale, and carried noting the absence of Member M. Williams, to adopt the Resolution. Resolution No. OB 2017-001 A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING Page 2 of 2 THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS 17-18) FOR JULY 1, 2017 THROUGH JUNE 30, 2018 4) Second Implementation Agreement Pursuant to Amended and Restated DDA, Summerly City Attorney Leibold presented the Staff Report It was moved by Member P. Williams, seconded by Member Jeffries, and carried noting the absence of Member M. Williams, to adopt the Resolution. Resolution No. OB 2017-002 A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING THE SECOND IMPLEMENTATION AGREEMENT PURSUANT TO AMENDED AND RESTATED DDA, SUMMERLY 5) Date, Time and Location for Regular Meetings City Attorney Leibold presented the Staff Report It was moved by Member P. Williams, seconded by Member Jeffries, and carried noting the absence of Member M. Williams, to adopt the Resolution. Resolution No. OB 2017-003 A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, CALIFORNIA, CHANGING THE DATE AND TIME OF OVERSIGHT BOARD MEETINGS 6) Selection of Vice-Chair It was moved by Member Tisdale, seconded by Member Sanchez, and noting the absence of Member M. Williams, carried to elect Member Tisdale as Vice-Chair. Adjournment The meeting was adjourned at 4:22 p.m. to the Regular meeting on September 18, 2017, at 4:00 p.m. in City Hall at 130 S. Main Street. Genie Kelly Susan M. Domen, MMC Chair Oversight Board Secretary Page 1 of 2 City of Lake Elsinore Oversight Board to the Successor Agency Regular Meeting Minutes Monday, September 18, 2017 Call to Order The meeting was called to order by Chair Kelley at 4:05 p.m. in City Hall at 130 S. Main Street. Pledge of Allegiance The Pledge of Allegiance was led by Vice-Chair Tisdale. Roll Call Present: Members Jeffries, Lassey, M. Williams, and P. Williams; Vice-Chair Tisdale and Chair Kelley Absent: Member Sanchez Public Comments - Non Agendized Items There were no members of the public appearing to speak. Business Item 1)Amended Recognized Obligation Payment Schedule (ROPS 17-18B) for January 1, 2018 through June 30, 2018 Period Assistant City Manager Simpson presented the Staff Report. It was moved by Member P. Williams, seconded by Member Jeffries, and carried noting the absence of Member Sanchez, to adopt the Resolution. Resolution No. OB-2017-004 A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING THE AMENDED RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS 17-18B) FOR JANUARY 1, 2018, THROUGH JUNE 30, 2018 Staff Comments Assistant City Manager Simpson noted that Board Counsel Leibold will e-mail the Board in regards to the next meeting. Board Member Comments Member Jeffries stated that if they want to continue being a Board they need to start acting now before July 1st. Page 2 of 2 Adjournment The meeting was adjourned at 4:12 p.m. to the Special meeting on October 23, 2017, at 4:00 p.m. in City Hall at 130 S. Main Street. Genie Kelley Susan M. Domen, MMC Chair Oversight Board Secretary Page 1 of 2 City of Lake Elsinore Oversight Board to the Successor Agency Special Meeting Minutes Monday, October 23, 2017 Call to Order The meeting was called to order by Chair Kelley at 4:06 p.m. in City Hall at 130 S. Main Street. Pledge of Allegiance The Pledge of Allegiance was led by Alternate Member Magee. Roll Call Present: Members Jeffries, Lassey, Sanchez, and P. Williams; Alternate Member Magee and Chair Kelley Absent: Member M. Williams and Vice-Chair Tisdale. Public Comments - Non Agendized Items There were no members of the public appearing to speak. Business Item 1) Issuance and Sale of Third Lien Tax Allocation Bonds and Related Documents, Civic Partners, LLC and McMillin Summerly LLC Assistant City Manager Simpson introduced the Finance Team, Brian Forbath, Bond Council from Stradling, Mike Bush, Financial Advisor from Urban Futures, John Kim, Under Writer from Stifel, and Cheryl Murase, tax increment and property tax expert from HDL Companies. Assistant City Manager turned it over to Brian Forbath from Stradling to give the presentation. It was moved by Member P. Williams, seconded by Mayor Magee, and unanimously carried noting the absence of Member M. Williams and Vice-Chair Tisdale, to adopt the Resolution. Resolution No. 2017- 005 A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING THE ISSUANCE AND SALE OF THIRD LIEN TAX ALLOCATION BONDS BY THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE AND AUTHORIZING CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH Page 2 of 2 Adjournment There being no further discussion the meeting was adjourned at 4:16 p.m. to the Regular meeting on January 29, 2018, at 4:00 p.m. in City Hall at 130 S. Main Street. _____________________________________ Genie Kelley Susan M. Domen, MMC Chair Oversight Board Secretary Text File City of Lake Elsinore 130 South Main Street Lake Elsinore, CA 92530 www.lake-elsinore.org File Number: ID# 17-508 Agenda Date: 1/29/2018 Status: BusinessVersion: 1 File Type: ReportIn Control: Oversight Board Agenda Number: 4) Page 1 City of Lake Elsinore Printed on 1/25/2018 Page 1 of 2 REPORT TO OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE To:Chairperson Kelley and Members of the Oversight Board From:Barbara Leibold, Successor Agency Counsel Date:January 29, 2018 Subject:Loan Agreement between the City of Lake Elsinore and the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore in the principal amount of $159,765 for Administrative Costs for the ROPS 17-18 Period Recommendation Adopt A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, CALIFORNIA APPROVING A LOAN AGREEMENT BETWEEN THE CITY AND SUCCESSOR AGENCY UNDER HEALTH & SAFETY CODE SECTION 34173(h) Background As part of the dissolution of the former Redevelopment Agency, Health and Safety Code Section 34177 (added by AB 1X 26, as amended to date) requires the Successor Agency to adopt a Recognized Obligation Payment Schedule (ROPS) that lists all obligations of the former redevelopment agency that are enforceable within the meaning of subdivision (d) of Section 34167 for each twelve month period of each fiscal year. Each ROPS is a budgetary document upon which the County auditor-controller distributes what was formally called tax increment to the Successor Agency in order to allow it to pay approved enforceable obligations and administrative costs. In short, the auditor-controller deposits what would previously have been deemed tax increment into a new account, the Redevelopment Property Tax Fund (“RPTTF”). Any RPTTF dollars not required to pay enforceable obligations and approved administrative costs are distributed by the auditor-controller to the affected taxing entities in proportion to their respective share of property taxes. The Successor Agency previously adopted its ROPS 17-18B covering the period of January 1, 2018 through June 30, 2018 which was subsequently approved by the Oversight Board and the California Department of Finance (DOF). The DOF approved ROPS 17-18B identified $7,573,293 in obligations to be paid from the RPTTF. However, the Successor Agency only received $7,099,712 in RPTTF funds for the ROPS 17-18B cycle, thus creating a $159,765 administrative cost shortfall and a $313,816 shortfall in enforceable obligations. The funding shortfall in enforceable obligations is recaptured in the ROPS 18-19 Line Item 33 and will be paid from available RPTTF. However, recapture of the shortfall in administrative costs requires the Successor Agency adopt a resolution requesting RPTTF to reimburse the City for the payment of the unfunded administrative allowance. Loan Agreement Admin Shortfall January 29, 2018 Page 2 of 2 Discussion Health & Safety Code Section 34173(h) allows City – Successor Agency loans for the payment of administrative costs when RPTTF and immediately available funds on deposit in the Successor Agency’s Redevelopment Obligation Retirement Fund are not sufficient. In order to meet the Successor Agency administrative costs, the city is able to advance funds to the Successor Agency in the form of a loan in the amount of the $159,756 administrative shortfall. The attached loan agreement establishes the terms of the loan subject to approval by the Oversight Board and subsequent approval by DOF. The loan accrues interest at the LAIF rate and repayment of both principal and interest are included in the ROPS 18-19 as Line Item 35. Fiscal Impact Approval of this Loan Agreement in the principal amount of $159,765 and the subsequent approval by the DOF will ensure that the Successor Agency can fully meet all obligations contained in ROPS 17-18B. It also ensures that the Successor Agency will be entitled to future distributions from the RPTTF in order to fully repay both principal and interest of this loan. Prepared by:Barbara Leibold, Successor Agency Counsel Attachments: Oversight Board Resolution No. OB-2018-_______ Loan Agreement RESOLUTION NO. OB-2018-___ A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE APPROVING A LOAN AGREEMENT BETWEEN THE CITY AND SUCCESSOR AGENCY UNDER HEALTH & SAFETY CODE SECTION 34173(h) WHEREAS, in accord with the provisions of the California Community Redevelopment Law (Health and Safety Code Section 33000, et seq. (“CRL”), the City Council of the City of Lake Elsinore (“City”) previously established the Redevelopment Agency of the City of Lake Elsinore, a public body, corporate and politic (“Agency”) to carry out the purposes of and exercise the powers granted to community redevelopment agencies under the CRL; WHEREAS, on February 1, 2012, the Agency was dissolved pursuant to Assembly Bill 1X26 (Stats. 2011, 1st Ex. Sess., Ch. 5) (“AB 26”), and its rights, powers, duties and obligations were transferred to a “successor agency” (as defined by CRL Section 34171(j) and Section 34173); WHEREAS, the City Council elected to act as the Agency’s successor agency (“Successor Agency”) under CRL Section 34173; WHEREAS, with the Oversight Board’s approval, CRL section 34173(h) permits the City to loan the Successor Agency funds to pay the Successor Agency’s administrative costs, enforceable obligations, and project-related expenses; WHEREAS,the Successor Agency received an insufficient distribution from the Redevelopment Property Tax Trust Fund (established pursuant to CRL Section 34170.5 and administered by the County Auditor-Controller in accord with CRL Sections 34182 and 34183) maintained by the Riverside County Auditor-Controller (“RPTTF”) to fully fund Oversight Board and California Department of Finance (“DOF”) approved enforceable obligations, administrative costs, and project related expenses identified on its Recognized Obligation Payment Schedule for the period of January 1, 2018 through June 30, 2018 (“ROPS 17-18B”); and WHEREAS, the City and the Successor Agency have prepared a Loan Agreement (attached hereto as Exhibit A) providing for a loan from the City to the Successor Agency in the amount of One Hundred Fifty-Nine Thousand Seven Hundred Sixty-Five Dollars ($159,765). NOW, THEREFORE, THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS: SECTION 1.The Recitals set forth above are true and correct and incorporated herein by reference. Resolution No. OB 2018-___ Page 2 of 3 SECTION 2.In accord with CRL Section 34173(h), the Oversight Board approves the Loan Agreement, in the form attached as Exhibit A. SECTION 3.Upon approval by the Oversight Board, this Resolution and the Loan Agreement shall be transmitted by the Successor Agency Executive Director or designee to the County Auditor-Controller, the State Controller’s Office, and the State Department of Finance, or alternatively, notice of the Oversight Board’s approval shall be provided to those entities, together with City’s website address and the Loan Agreement shall be posted on the City’s website. SECTION 4.This Resolution shall take effect from and after the date of its passage and adoption in accordance with, and subject to, all applicable requirements of the Health & Safety Code. PASSED, APPROVED AND ADOPTED by the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore, held this 29th day of January, 2018. Genie Kelley, Chair ATTEST: Susan M. Domen, MMC, Oversight Board Secretary EXHIBIT A Loan Agreement 1 LOAN AGREEMENT FOR ADMINISTRATIVE COSTS (FOR THE PERIOD JANUARY 1, 2018 – JUNE 30, 2018, ROPS 17-18B) This Loan Agreement for Administrative Costs (for the Period January 1, 2018 – June 30, 2018, ROPS 17-18B) (“Agreement”) is reference dated as of January 23, 2018. This Agreement is entered into between (1) the City of Lake Elsinore, a California general law city and municipal corporation (“City”) and (2) the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore, formed and existing in accord with Section 34173 of the California Community Redevelopment Law (“CRL”) (Health & Safety Code Section 33000, et seq.) (“Successor Agency”). RECITALS Whereas,under the provisions of the CRL, the City Council of the City of Lake Elsinore previously established the Redevelopment Agency of the City of Lake Elsinore, a public body, corporate and politic (“Agency”), to carry out the purposes of and exercise the powers granted to community redevelopment agencies under the CRL; Whereas, on February 1, 2012, the Agency was dissolved by operation of Assembly Bill 1X26 (Stats. 2011, 1st Ex. Sess., Ch. 5) (“AB 26”), and its rights, powers, duties and obligations were transferred to a “successor agency” (as defined in CRL Section 34171(j) and Section 34173); Whereas,as provided by AB 26, the City Council took official action electing to become the Agency’s successor agency (“Successor Agency”) under CRL Section34173; Whereas,on or about June 27, 2012, the provisions of Assembly Bill 1484 (“AB 1484”) became law. AB 1484 modified the CRL and AB 26 in various ways. As used herein, the term “CRL” means Health & Safety Code Section 33000, et seq., as modified by AB 26 and AB 1484. Specific terms used and not otherwise defined in this Agreement will have the meanings given to those terms in the CRL; Whereas CRL Section 34173(h) permits the City, as the former Agency’s creating authority, to loan or grant funds to the Successor Agency to pay for enforceable obligations, administrative costs, and project-related expenses. Whereas,the Successor Agency received an insufficient distribution from the Redevelopment Property Tax Trust Fund (established pursuant to CRL Section 34170.5 and administered by the County Auditor-Controller in accord with CRL Sections 34182 and 34183) maintained by the Riverside County Auditor-Controller (“RPTTF”) to fully fund administrative costs identified on its Recognized Obligation Payment Schedule for the period of January 1, 2018 through June 30, 2018 as approved by the Oversight Board and DOF (“ROPS 17-18B”); and Whereas,the Successor Agency has requested that the City loan it the principal sum of One Hundred Fifty-Nine Thousand Seven Hundred Sixty-Five Dollars ($159,765) (“Loan”) so that the Successor Agency may pay its administrative costs set forth in the ROPS 17-18B. The City is willing to make the Loan under the authority of CRL Section 34173(h) on the terms set forth in thisAgreement. 2 AGREEMENT NOW THEREFORE, in consideration of the foregoing Recitals and the terms contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties do hereby agree as follows: 1.Effective Date. This Agreement will not become effective until the date (“Effective Date”) all of the following haveoccurred: (a)This Agreement has been approved by the City Council as the City’s governing body and by the Successor Agency and has been executed by the City’s and the Successor Agency’s authorizedofficials. (b)This Agreement has been approved by the Oversight Board to the Successor Agency formed in accord with CRL Section34179. 2.Loan Agreement. The City agrees to disburse the Loan to the Successor Agency upon the Successor Agency’s request. The Loan will be disbursed to the Successor Agency to be held in its accounts and may be used to pay any of the Successor Agency’s administrative costs set forth in the ROPS 17-18B. 3.Interest and Repayment Terms. All disbursed and outstanding Loan amounts will accrue interest at the rate earned by funds deposited by the City into the Local Agency Investment Fund, as it may be adjusted from time-to-time (“LAIF Rate”), from the date of disbursement until fully repaid. 4.Use of the Loan. The Successor Agency shall utilize the proceeds of the Loan to pay for the administrative expenses of the Successor Agency in light of the fact that the monies received by the Successor Agency as of January 1, 2018 as the remittance from the Redevelopment Property Tax Trust Fund are not estimated to be sufficient when added to other available funds of the Successor Agency, to fully pay for administrative costs of the Successor Agency for the period January 1, 2018 through June 30, 2018. 5.Source of Repayment of the Loan. The Loan shall be repaid by the Successor Agency from revenues available to the Successor Agency. 6.Inclusion on Recognized Obligation PaymentSchedule. (a)The Successor Agency will identify this Agreement as an enforceable obligation under CRL 34173(h) on the Recognized Obligation Payment Schedule to be submitted by the Successor Agency to the Department of Finance for the period covering July 1, 2018 through June 30, 2019 (“ROPS 18-19”). The Successor Agency will request an allocation of property taxes from the “RPTTF on the ROPS 18-19 and each subsequent Recognized Obligation Payment Schedule (“ROPS”) covering any fiscal period in which the Successor Agency has a Loan repayment obligation under this Agreement. If, for any reason whatsoever, the Successor Agency does not receive sufficient allocations of property taxes from the RPTTF so as to fully repay the Loan and accrued interest, the Successor Agency will continue to make allocation requests on all subsequent ROPS until the Loan and all accrued interest has been fully repaid. The amount of each allocation request will be equal to the sum of the Successor Agency’s repayment obligation arising during the period covered by the 3 ROPS plus the remaining balance (if any) of any repayment due during a prior ROPS period which was not fully paid. (b)The Successor Agency will prepare each ROPS as required by the CRL and submit it to the Oversight Board and such other governmental agencies as the CRL may require from time-to-time. The Successor Agency will take all other actions as required by the CRL or other applicable authority to ensure that the Successor Agency receives an allocation of taxes from RPTTF in the amounts necessary to satisfy the Successor Agency’s payment obligations under this Agreement. 7.Amendment or Modification. This Agreement and the Successor Agency’s obligations under it may be amended or modified only in the followingways: (a)By the mutual written agreement of the City and the Successor Agency, following all notices, hearings and approvals required by then-applicable provisions of the CRL and other legal authority. (b)As required to conform to future changes in the CRL, other applicable legal authority, or pursuant to an order or judgment of a court of competentjurisdiction. 8.No Other Successor Agency Income or Assets Subject to Repayment Obligation. No funds or other assets of the Successor Agency other than property tax allocations from the RPTTF may be used for the repayment of the Successor Agency’s obligations under this Agreement. 9.Remedies for Breach. If the Successor Agency fails for any reason whatsoever to fulfill its obligations under this Agreement, the City may, without notice or demand, accelerate all payments to become due under this Agreement and declare the entirety of the unpaid Loan principal and accrued interest immediately due and payable. 4 SIGNATURE PAGE TO LOAN AGREEMENT FOR ADMINISTRATIVE COSTS (FOR THE PERIOD JANUARY 1, 2018 – JUNE 30, 2018, ROPS 17-18B) ATTEST: By: __________________________ Susan M. Domen, MMC City Clerk, CITY City of Lake Elsinore, a California municipal corporation By: Name: Title: Mayor ATTEST: SUCCESSOR AGENCY SECRETARY By: __________________________ Susan M. Domen, MMC SUCCESSOR AGENCY The Successor Agency to the Redevelopment Agency of the City of Lake Elsinore, a public entity created and existing under the authority of CRL Section 34173 By: Name: Title: Chair APPROVED AS TO FORM: By: Barbara Leibold, City Attorney Successor Agency Counsel Text File City of Lake Elsinore 130 South Main Street Lake Elsinore, CA 92530 www.lake-elsinore.org File Number: ID# 17-509 Agenda Date: 1/29/2018 Status: BusinessVersion: 1 File Type: ReportIn Control: Oversight Board Agenda Number: 5) Page 1 City of Lake Elsinore Printed on 1/25/2018 Page 1 of 3 REPORT TO OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE To:Chairperson Kelley and Members of the Oversight Board From:Barbara Leibold, Successor Agency Counsel Date:January 29, 2018 Subject:Fifth Amendment to Stadium Interim Management Agreement Recommendation Adopt A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING THE FIFTH AMENDMENT TO THE STADIUM INTERIM MANAGEMENT AGREEMENT BETWEEN THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE AND THE LAKE ELSINORE STORM LP Background In 2001 and 2002, the Redevelopment Agency entered into certain agreements involving the operation and maintenance of the Lake Elsinore Diamond Stadium, including a License Agreement, a Stadium Field And Maintenance Agreement, and a Concession License Agreement (collectively, the “Stadium Operations Contracts”). Pursuant to the Stadium Operations Contracts, the Storm licensed and maintained the Stadium for baseball games and other Storm events. An affiliate of the Storm, Golden State Concessions and Catering, Inc. (“Golden State”), operated the concessions at the Stadium. Under the Stadium Operations Contracts, the Agency’s management, operation and maintenance costs were significant and the Stadium operated at a loss. In 2005, the Agency commenced negotiations with Diamond Stadium Group (DSG) to undertake all of the Stadium operations, maintenance and management responsibilities. Storm LP, Golden State and DSG share common controlling ownership. Negotiations between the Agency and DSG resulted in June 2007 amendments to the Stadium Operations Contracts and a new Stadium License, Lease and Management Agreement (the “2007 Management Agreement”). DSG fulfilled all aspects of the 2007 Management Agreement which reduced the Agency’s Stadium-related costs. However, DSG reported annual losses under the 2007 Management Agreement and in June 2011 chose to exercise its right to terminate the 2007 Management Agreement effective December 31, 2012. Upon termination of the 2007 Management Agreement, the rights and responsibilities for Stadium management, operations and maintenance were again divided in accordance with the Stadium Operations Contracts; however, at that time, the Successor Agency did not have the resources to satisfactorily perform its obligations. On December 11, 2012, the Successor Agency approved the Stadium Interim Management Agreement (“Interim Agreement”) to provide for the efficient and cost effective management, Fifth Amendment to Interim Stadium Management Agreement January 29, 2018 Page 2 of 3 maintenance and operation of the Stadium by the Storm through 2013. A First Amendment to the Interim Agreement was approved in September 2013. A Second Amendment to the Interim Agreement was approved in September 2014, a Third Amendment was approved in September 2015, and a Fourth Amendment was approved in September 2016. The State Department of Finance has approved the allocation of Real Property Tax Trust Funds for Stadium obligations in accordance with the Successor Agency Recognized Obligations Payment Schedules (ROPS). The Interim Agreement and the First, Second, Third and Fourth Amendments have been successfully implemented to provide for efficient and cost effective management, maintenance and operation of the Diamond Stadium. However, the Fourth Amendment expires on June 30, 2018 at which time the burden of maintaining, managing and operating Diamond Stadium under the Stadium Operations Contracts would fall onto the Successor Agency. Discussion Pursuant to the Dissolution Act and provisions of AB 1484, the Successor Agency has prepared a Recognized Obligation Payment Schedule for the period from July 1, 2018 through June 30, 2019 (the “ROPS 18-19”) which lists, among other things, as enforceable obligations of the Successor Agency, the obligations related to the (i) License Agreement; (ii) Maintenance Agreement; (iii) Concession Agreement; (iv) Stadium operations and maintenance obligations, and (v) the Interim Agreement. Consistent with the legislative authorization contained in AB 1484 allowing successor agencies to enter into enforceable obligations for the purpose of maintaining the assets of the former Redevelopment Agency, a Fifth Amendment to the Interim Agreement has been prepared to provide for the continued, efficient and cost effective management, maintenance and operation of the Stadium for an initial two-year term commencing July 1, 2018 and renewing automatically unless terminated by either party for up to three two-year Renewal Terms and one six-month Extension Term expiring concurrent with the Stadium Operations Contracts on December 31, 2026. Successor Agency staff believes that approval of the attached Fifth Amendment to the Stadium Interim Management Agreement will ensure that the “Lake Elsinore Storm” can continue to play its home baseball games at the Stadium consistent with the Stadium Operations Contracts and that the Stadium will be maintained and managed in a first class condition on a continual basis in accordance with the Stadium Operations Contracts. The Storm continues to possess the experience, capabilities and qualifications to best carry out these obligations. Interim Management Agreement -The Interim Stadium Management Agreement as amended by the proposed Fifth Amendment incorporates the obligations under the Stadium Operations Contracts and provides for a Capital Improvement Schedule. During the 2018-2019 term of the Fifth Amendment, compensation to the Storm for the performance of the maintenance, management and operations services shall be as follows: (a)Assignment of GRCS Concession Fee. Successor Agency assigns Successor Agency’s right to payment of the GRCS Concession Fee under the Concession Agreement to the Storm during the 2018-2019 term, estimated at $34,000 annually; and Fifth Amendment to Interim Stadium Management Agreement January 29, 2018 Page 3 of 3 (b)Waiver of License Fee. Successor Agency waives Successor Agency’s right to payment of the License Fee in the amount of $522,473 for the period July 1, 2018 through June 30, 2019 under the License Agreement as an offset against the payments due by the Successor Agency to the Storm; and (c)Payment of Maintenance Fee. Successor Agency shall pay the Annual Maintenance Fee in the amount of $243,912 for the period July 1, 2018 through June 30, 2019; and. (d)Payment of Additional Interim Management Fee. Successor Agency shall pay to Storm $468,147 for the period July 1, 2018 through June 30, 2019, payable in equal monthly installments (“Additional Interim Management Fee”). The Maintenance Fee along with the Additional Interim Management Fee will result total cash payment from the Successor Agency to the Storm of $712,059 for the period July 1, 2018 through June 30, 2019 as consideration for services provided under the Stadium Operations Contracts and the Interim Agreement, which aggregate amount shall be payable in equal monthly installments of $59,338.25 for the period July 1, 2018 through June 30, 2019. The License Fee, the Annual Maintenance Fee and the Additional Interim Management Fee will increase 2.5 percent annually over the prior year throughout the term of the Interim Agreement. The Successor Agency continues to be responsible for all Capital Repairs and alterations consistent with the Stadium Operations Contracts, which are expected to be significant over the next few years. Capital repairs for 2018-2019, as included in the Fifth Amendment, reflect that the Stadium is twenty-four (24) years old and include, without limitation, capital repairs necessary to comply with ADA and energy and water efficiency requirements, roof repair/replacement, plumbing and drain repair and equipment replacement. The Fifth Amendment provides for proposed 2018-2019 Capital Repairs of approximately $1,689,950. The Fifth Amendment includes a Capital Repair schedule, which will be updated annually or, if necessary, semi-annually in accordance with future ROPS. The Fifth Amendment was approved by the Successor Agency on January 23, 2018 and is subject to the approval of the Oversight Board and DOF. Following approval by Oversight Board, the Fifth Amendment will be submitted to the Department of Finance (DOF). Fiscal Impact The ROPS 18-19 for the period of July 1, 2018 through June 30, 2019 reflects an allocation of Real Property Tax Trust Funds to cover all Successor Agency enforceable obligations, including obligations relating to the Lake Elsinore Diamond Stadium pursuant to the Fifth Amendment. Prepared by:Barbara Leibold, Successor Agency Counsel Attachments:Fifth Amendment to Stadium Interim Management Agreement RESOLUTION NO. OB-2018-___ A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING THE FIFTH AMENDMENT TO THE STADIUM INTERIM MANAGEMENT AGREEMENT BETWEEN THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE AND THE LAKE ELSINORE STORM LP WHEREAS, the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore (the “Oversight Board”) has been established to direct the Successor Agency to take certain actions to wind down the affairs of the former Redevelopment Agency of the City of Lake Elsinore (the “Agency”) in accordance with the California Health and Safety Code; and WHEREAS, in 2012, the Successor Agency and the Oversight Board approved the Stadium Interim Management Agreement dated January 1, 2013 by and between the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore and the Lake Elsinore Storm LP (the “Interim Agreement”) and following such approval by the Oversight Board and the Successor Agency, the Interim Agreement was submitted to and reviewed by the State Department of Finance; and, WHEREAS, in 2013, the Successor Agency and the Oversight Board approved the First Amendment to Stadium Interim Management Agreement dated January 1, 2014 by and between the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore and the Lake Elsinore Storm LP (the “First Amendment”) and following such approval by the Oversight Board and the Successor Agency, the Interim Agreement was submitted to and reviewed by the State Department of Finance; and, WHEREAS, in 2014, the Successor Agency and the Oversight Board approved the Second Amendment to Stadium Interim Management Agreement dated January 1, 2015 by and between the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore and the Lake Elsinore Storm LP (the “Second Amendment”) and following such approval by the Oversight Board and the Successor Agency, the Interim Agreement was submitted to and reviewed by the State Department of Finance; and, WHEREAS, in 2015, the Successor Agency and the Oversight Board approved the Third Amendment to Stadium Interim Management Agreement dated January 1, 2016 by and between the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore and the Lake Elsinore Storm LP (the “Third Amendment”) and following such approval by the Oversight Board and the Successor Agency, the Interim Agreement was submitted to and reviewed by the State Department of Finance; and, WHEREAS, in 2016, the Successor Agency and the Oversight Board approved the Fourth Amendment to Stadium Interim Management Agreement dated January 1, 2017 by and between the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore and the Lake Elsinore Storm LP (the “Fourth Amendment”) and following such approval by the Oversight Board and the Successor Agency, the Interim Agreement was submitted to and reviewed by the State Department of Finance; and, Resolution No. OB-2018-_____ Page 2 of 3 WHEREAS, the Interim Agreement and the First, Second, Third and Fourth Amendments have been successfully implemented to provide for efficient and cost effective management, maintenance and operation of the Diamond Stadium but, absent a Fourth Amendment, the Interim Agreement will expire on June 30, 2018; and, WHEREAS, consistent with the legislative authorization contained in AB 1484 allowing successor agencies to enter into enforceable obligations for the purpose of maintaining the assets of the former redevelopment agency, the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore seeks to provide for the continued, efficient and cost effective management, maintenance and operation of the Stadium and to retain the Storm to carry out such continuing obligations on an interim basis for in accordance with the proposed Fifth Amendment to the Interim Agreement; and, WHEREAS, pursuant to Health and Safety Code Section 34177(o)(1) a “Recognized Obligation Payment Schedule” that lists all obligations of the former redevelopment agency that are enforceable within the meaning of subdivision (d) of Section 34167 for the period commencing July 1, 2018 – June 30, 2019 (the “ROPS 18-19”) which lists, among other things, as enforceable obligations of the Successor Agency, the following obligations related to the Lake Elsinore Diamond Stadium (the “Stadium”): (i) License Agreement; (ii) Maintenance Agreement; (iii) Concession Agreement; (iv) Stadium operations and maintenance obligations, and (v) the Interim Agreement (as amended by the proposed Fifth Amendment) has been prepared for approval by the Successor Agency and the Oversight Board and subsequent ROPS will be similarly prepared throughout the term of the Stadium Operations Contracts and the proposed Fifth Amendment. NOW, THEREFORE, THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, CALIFORNIA, DOES HEREBY RESOLVE AS FOLLOWS: SECTION 1.The Recitals set forth above are true and correct and incorporated herein by reference. SECTION 2.Based on the information presented in the staff report and testimony received, the Oversight Board finds (i) that the proposed Fifth Amendment to the Interim Agreement is reasonable and necessary to satisfy the Successor Agency’s enforceable obligations and to protect and maintain the assets of the former Redevelopment Agency, (ii) that Real Property Tax Trust Fund (RPTTF) revenues set forth in the Amended ROPS 18-19 include funds necessary to meet the Successor Agency’s enforceable obligations with respect to the Stadium, including the first year of the term of the proposed Fifth Amendment to the Interim Agreement, and (iii) that the Fifth Amendment to the Interim Agreement is in the best interests of the taxing entities. Based on the above findings, the Oversight Board approves the Fifth Amendment to the Stadium Interim Management Agreement by and between the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore and the Lake Elsinore Storm LP in substantially the form attached and in such final form as approved by Successor Agency Counsel and submitted to and approved by DOF. SECTION 3.If any provision of this Resolution or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this Resolution which can be given effect without the invalid provision or application, and to this Resolution No. OB-2018-_____ Page 3 of 3 end the provisions of this resolution are severable. The Oversight Board hereby declares that it would have adopted this Resolution irrespective of the invalidity of any particular portion thereof. SECTION 4.This Resolution shall take effect from and after the date of its passage and adoption in accordance with, and subject to, all applicable requirements of the Health & Safety Code. PASSED, APPROVED AND ADOPTED by the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore, California, this 29th day of January, 2018. Genie Kelley, Chair ATTEST: Susan M. Domen, MMC Oversight Board Secretary STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss. CITY OF LAKE ELSINORE ) I, Susan M. Domen, MMC, Secretary of the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore, California, hereby certify that Resolution No. OB-2018- was adopted by the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore at a Regular meeting held on the 29th day of January, 2018 by the following vote: AYES: NOES: ABSTAIN: ABSENT: Susan M. Domen, MMC, Oversight Board Secretary @BCL@B40DA93A.doc - 1 - FIFTH AMENDMENT TO STADIUM INTERIM MANAGEMENT AGREEMENT THIS FIFTH AMENDMENT TO STADIUM INTERIM MANAGEMENT AGREEMENT (the “Fifth Amendment”), dated for identification as of January 23, 2018, is made by and between the SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE (“Successor Agency”), and the LAKE ELSINORE STORM LP, a California limited partnership (“Storm”). RECITALS The following recitals are a substantive part of this Fifth Amendment: A.The City Council of the City of Lake Elsinore adopted a redevelopment plan (the “Redevelopment Plan”) for an area within the City known as the Rancho Laguna Redevelopment Project Area 3 (the “Project Area”) by way of its approval of Ordinance No. 815 on September 8, 1987, as thereafter amended by Ordinance No. 987 adopted on November 22, 1994. B.In furtherance of the Redevelopment Plan and that certain First Amendment to Amended and Restated Option Agreement Under Threat of Condemnation and Irrevocable Offer To Donate Stadium Site and Stadium Access Parcel and Unconditional Acceptance Subject To Covenants, Conditions, Restrictions and Reservations (“Offer to Donate”) dated August 5, 1993, the former Redevelopment Agency of the City of Lake Elsinore acquired certain real property for redevelopment purposes and thereafter, in 1994, completed the “Lake Elsinore Diamond Stadium” on property donated for purposes of developing a minor league professional baseball stadium. C.In furtherance of the Redevelopment Plan and the covenants, conditions, restrictions and reservations set forth in the Offer to Donate restricting the use of the property as a minor league professional baseball stadium for a minimum of fifty years, the former Redevelopment Agency operated, managed and maintained the Lake Elsinore Diamond Stadium and the property (collectively, the Premises”) pursuant to various agreements, including the Stadium Operations Contracts. D.Following the dissolution of the former Redevelopment Agency, the Successor Agency entered into that certain Stadium Interim Management Agreement dated January 1, 2013 (the “Interim Agreement”) to provide for the performance of the enforceable obligations under the Stadium Operation Contracts and the Offer to Donate, including maintenance, management, promotion and operations of the Premises. Capitalized terms used herein which are not otherwise defined herein shall have the meaning ascribed to them in the Interim Agreement. E.The Interim Agreement was successfully implemented during calendar year 2013 to provide for efficient and cost effective management, maintenance and operation of the Premises. @BCL@B40DA93A.doc - 2 - F.In order to provide for continued efficient and cost effective management, maintenance and operation of the Premises for calendar year 2014, the Successor Agency and the Storm entered into that certain First Amendment (2014) to Stadium Interim Management Agreement dated September 24, 2013 (the “First Amendment”). G.In order to provide for continued efficient and cost effective management, maintenance and operation of the Premises for calendar year 2015, the Successor Agency and the Storm entered into that certain Second Amendment (2015) to Stadium Interim Management Agreement dated September 23, 2014 (the “Second Amendment”). H.In order to provide for continued efficient and cost effective management, maintenance and operation of the Premises for calendar year 2016, the Successor Agency and the Storm entered into that certain Third Amendment (2016) to Stadium Interim Management Agreement dated September 22, 2015 (the “Third Amendment”). I.In order to provide for continued efficient and cost effective management, maintenance and operation of the Premises for January 1 2017 – June 30, 2018, the Successor Agency and the Storm entered into that certain Fourth Amendment (2017-2018) to Stadium Interim Management Agreement dated September 27, 2016 (the “Fourth Amendment”). J.The obligations set forth in the Interim Agreement, First Amendment, Second Amendment, Third Amendment and Fourth Amendment have been included in prior Recognized Obligation Payment Schedules (ROPS) approved by the Successor Agency, the Oversight Board of the Successor Agency (“Oversight Board”) and the Department of Finance (“DOF”). K.The Fourth Amendment will expire on June 30, 2018 and the parties desire to enter into this Fifth Amendment to provide for continued efficient and cost effective management, maintenance and operation of the Premises for the period commencing July 1, 2018 through June 30, 2020 and thereafter in accordance with this Fifth Amendment. L.Capital repairs of approximately $2,834,950 for the period commencing July 1, 2018 through June 30, 2020 are necessary to protect the structural components and operational systems of the twenty-four (24) year old Stadium and to protect the safety of the players and the spectators consistent with applicable laws and NAPBL standards. M.In accordance with Health and Safety Code (“HSC”) Section 34177(o)(1), the Successor Agency will adopt and submit to DOF a Recognized Obligation Payment Schedule (“ROPS”) for the period from July 1, 2018 through June 30, 2019 and for each successive July 1 through June 30 thereafter throughout the Term which will include the Successor Agency obligations set forth in this Fifth Amendment and list, among other things, as enforceable obligations of the Successor Agency, the following obligations related to the Premises as more fully described and referenced therein: (i)Concession License Agreement, as amended (“Concession Agreement”); (ii)License Agreement, as amended (“License Agreement”); (iii)Stadium Field and Maintenance Agreement, as amended (“Maintenance Agreement”); @BCL@B40DA93A.doc - 3 - (iv)Stadium operations and maintenance obligations; and (v)the Interim Agreement. N.Consistent with the legislative authorization contained in HSC Section 34171 allowing successor agencies to enter into enforceable obligations for the purpose of maintaining the assets of the former Redevelopment Agency, the Successor Agency seeks to (a) provide for the continued efficient and cost effective management, maintenance and operation of the Premises, and (b) retain the Storm, which possesses the experience and qualifications to continue to carry out such obligations. Engagement of the Storm is necessary to ensure that the “Lake Elsinore Storm,” a single “A” baseball team, and a member of the California League of the National Association of Professional Baseball, owned by Storm LP, continues to play its home baseball games at the Stadium in accordance with the Stadium Operations Contracts. O.In furtherance of the purpose and intentions of the parties with respect to the Interim Agreement, the parties hereto agree to amend the Interim Agreement as provided herein. AGREEMENT NOW THEREFORE, in consideration of the foregoing Recitals and the terms contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties do hereby agree as follows: 1.Review Meetings. Section 2.4 of the Interim Agreement, entitled “Review Meetings” is hereby amended and restated in its entirety as follows: 2.4 Review Meetings. (a)Monthly Meetings. As often as necessary, but in no event less than one time per month during the Maintenance Term, the General Manager, or designee, and the Executive Director, or designee, shall meet at a mutually agreed upon time and place in order to discuss the condition of the Stadium and the performance of the Storm hereunder and any other applicable issues. (b)Annual Inspection/Facilities Review. During September 2018 and each September thereafter during the Term, the General Manager, or designee, and the Executive Director, or designee, shall (i) inspect the Stadium and conduct a facilities review to assess the condition of the Stadium and capital repair needs, and (ii) review the annual revenues and operating expenses for the prior July 1 – June 30 period to assess operational efficiencies. Prior to December 31, 2018 and each December 31 thereafter during the Term, the General Manager, or designee, and the Executive Director, or designee, shall complete an Annual Operating Budget and Schedule of Capital Repairs, including estimated costs, for the period commencing the following July 1 – June 30. 2.Utilities.Section 5 of the Interim Agreement, entitled “Utilities” is hereby amended and restated in its entirety as follows: @BCL@B40DA93A.doc - 4 - 5.Utilities. Notwithstanding any contrary provision contained in the Stadium Operations Contracts, the Storm shall be responsible for the payment of all Utilities regardless of whether the utility account is in the name of the Storm, the Successor Agency or City of Lake Elsinore. The Storm agrees to cooperate with the Successor Agency to explore ways to incorporate the use of or replace existing systems with alternative clean energy and to improve energy efficiency, including electrical utility savings by way of power purchase agreements through the Southwest Riverside County Energy Authority. An energy assessment will be conducted during the Annual Inspection/Facilities Review pursuant to Section 2.4(b) and an amount equal to any savings accounted for from the prior fiscal year shall be subtracted from the Additional Interim Management Fee to be paid for the following fiscal year pursuant to Section 7.2(d). 3.Term of Agreement; Termination. Section 6 of the Interim Agreement, entitled “Term of Agreement; Termination,” is hereby deleted in its entirety and replaced with the following: 6.Term of Agreement; Termination 6.1.Term. The term of this Interim Agreement (hereinafter the “Term”) shall commence on the Effective Date and shall, unless earlier terminated in accordance with Sections 6.2, 19, or 20 hereof, automatically renew commencing July 1, 2020 for up to three successive two-year terms, each a “Renewal Term,” and one six- month “Extension Term” which shall expire December 31, 2026. 6.2.Rights of Termination. (a)June 30, 2018 Termination. Successor Agency may terminate this Agreement effective as of June 30, 2018, by giving written notice thereof to the Storm no later than April 30, 2018. (b)Termination Prior to Renewal Term or Extension Term. Either party may terminate this Agreement prior to the July 1 commencement of any Renewal Term by providing sixty (60) days written notice of termination to the other party as follows: (i)On or before April 30, 2020, either party may terminate this Agreement effective as of June 30, 2020 by providing written notice of termination to the other party; (ii)On or before April 30, 2022, either party may terminate this Agreement effective as of June 30, 2022 by providing written notice of termination to the other party; (iii)On or before April 30, 2024, either party may terminate this Agreement effective as of June 30, 2024 by providing written notice of termination to the other party; and @BCL@B40DA93A.doc - 5 - (iv)On or before April 30, 2026, either party may terminate this Agreement effective as of June 30, 2026 by providing written notice of termination to the other party. (c)Default. The Successor Agency and Storm shall have the right to terminate this Interim Agreement as a result of an uncured Default hereunder. Any such termination shall be made in accordance with Sections 19 or 20. (d)Party’s Property and Offset. Upon termination of this Interim Agreement under this Section 6.2, all materials and equipment purchased by either party hereunder in connection with this Interim Agreement shall remain that party’s property. In addition, the Storm shall be entitled to payment for all of the Storm=s services rendered hereunder through the effective date of any such termination. (e)Effect of Termination. Notwithstanding the termination of this Interim Agreement pursuant to this Section 6.2, the provisions of Stadium Operations Contracts shall remain in full force and effect. 4.Stadium Use. Section 4.3 of the Interim Agreement, entitled “Stadium Use,” is hereby deleted in its entirety and replaced with the following: 4.3.Stadium Use. (a)Storm Games. During the Term, the Storm shall play its home baseball games at the Stadium, including pre-season, regular season and play-off games as scheduled by the League and shall have the right to use the Stadium for baseball practices and workouts. Upon receipt from the League, but in no event later than the 15th of November of each year during the Term, the Storm will provide the Executive Director of the Successor Agency with the written, proposed schedule for all professional baseball games involving the Storm for the coming baseball season including all pre- season games, a reasonable number of dates to be held for playoff games, as required by the League, and practices and workouts (collectively, the AStorm Games@). (b)Other Storm Events. In addition to the use of the Stadium for the Storm Games, the Storm shall have the right to use the Stadium for non-baseball related exhibitions, ceremonies or events (the AOther Storm Events@) on dates which the Stadium is not otherwise in use for Storm Games or other reserved uses, at its sole cost and expense, without any additional license fee or charge incurred, except for Storm’s obligation with respect to maintenance as provided herein and subject to the conditions set forth below. i.Lake Elsinore Diamond Stadium. All promotional and marketing materials for all Other Storm Events shall include the name “Lake Elsinore Diamond Stadium.” ii.Special Event Permit. The Storm shall obtain a Special Event Permit for all Other Storm Events from the City of Lake Elsinore in accordance with Chapter 5.108 of the Lake Elsinore Municipal Code, as now exists or as @BCL@B40DA93A.doc - 6 - may hereafter be amended, including submittal of an application not less than sixty (60) days prior to the event and compliance with the Special Event Permit Requirements for Other Storm Events (Exhibit “D” attached hereto and incorporated by reference herein) and such additional conditions of approval as may be deemed necessary or appropriate by the City in connection with the issuance of a Special Event Permit for the Other Storm Event. Concurrent with the submittal of the special event application package to the City, the Storm shall notify the Executive Director in writing of the proposed date and title of the Other Storm Event and a promotional/marketing plan demonstrating the anticipated attendance. ii.Governmental Regulations/Permits. The Storm shall comply with all applicable local, state, and federal laws, ordinances, rules, regulations and requirements (including without limitation land use and zoning, environmental, labor and prevailing wage, occupational Health & Safety, building and fire codes) in connection with the promotion and operation of Other Storm Events and shall apply for, secure, maintain and comply with all required licenses and/or permits. The Storm shall use commercially reasonable efforts to cause any users of the Stadium to report and pay sales taxes as generated within the City in accordance with all applicable laws. iii.Quality Standards. The Storm shall conduct Other Storm Events in accordance with the highest standards for cleanliness and quality and shall comply with all applicable terms and conditions of this Agreement and the Stadium Operations Contracts. (c)City/Agency Use. The Successor Agency, for itself and on behalf of the City of Lake Elsinore, reserves the right to use the Stadium, including without limitation, the Agency Suite, the Diamond Club and conference room for meetings, conferences and other events provided the Successor Agency notifies the Storm in advance. Notwithstanding the foregoing, the Storm shall have the right to use the Stadium on the days set forth in the schedule for the Storm Games and for Other Storm Events approved in accordance with the provisions of Section 4.3 (b) and the Successor Agency will not schedule any other events at the Stadium on the day of a Storm Game or other Storm Event if such event would interfere with the Storm=s use of the Stadium. (d) Agency Suite. For all Storm Games and Other Storm Events, free of any charge to Successor Agency, the Storm shall (i) secure and deliver to the Successor Agency tickets and parking passes for use of the Agency Suite, or (ii) provide reasonable alternative methods of access to the Agency Suite and Agency Parking. In the event the Successor Agency elects not to use the Agency Suite for any Other Storm Event, the Storm, including its representatives and invitees, may use the Agency Suite. The Storm shall indemnify and hold the Successor Agency and the City harmless from any loss, cost or expense or damage to Successor Agency property associated or in connection with use of the Agency Suite by third parties. 5.Compensation. Section 7 of the Interim Agreement, entitled “Compensation,” is hereby deleted in its entirety and replaced with the following: @BCL@B40DA93A.doc - 7 - 7.Compensation 7.1.Stadium Operations Contracts Compensation Recap. Pursuant to the Stadium Operations Contracts, the Storm and/or the Successor Agency are entitled to compensation during the Term as follows: (a)License Fee: Under the License Agreement, the Storm is required to pay to the Successor Agency a License Fee in the amount of $522,473 for the period commencing July 1, 2018 through June 30, 2019, and $535,534 for the period July 1, 2019 through June 30, 2020. The License Fee shall increase 2.5 percent annually over the prior year during each Renewal Term and the Extension Term, if any. (b)Percentage of Concessions: Under the Concession Agreement, the Storm’s affiliate, Golden State, is required to pay Successor Agency a percentage of the GRCS pursuant to Section 6 thereof (the “GRCS Concession Fee.”). (c)Annual Maintenance Fee: Under the Maintenance Agreement, Successor Agency is required to pay Storm an Annual Maintenance Fee in the amount of $243,912 for the period commencing July 1, 2018 through June 30, 2019, and $250,010 for the period July 1, 2019 through June 30, 2020. The Annual Maintenance Fee shall increase 2.5 percent annually over the prior year during each Renewal Term and the Extension Term, if any. 7.2.Storm Compensation. Commencing upon the Commencement Date (July 1, 2018), and continuing through the expiration of the Term, as consideration for the performance of the services set forth herein, the Storm shall be compensated as follows: (a)Assignment of GRCS Concession Fee. Successor Agency hereby assigns Successor Agency’s right to payment of the GRCS Concession Fee under the Concession Agreement to the Storm during the Term, estimated at $34,000 annually; and (b)Waiver of License Fee. Successor Agency hereby waives Successor Agency’s right to payment of the License Fee under the License Agreement during the Term as an offset against the payments due by the Successor Agency to the Storm hereunder; and (c)Payment of Annual Maintenance Fee. Successor Agency shall continue to pay the Annual Maintenance Fee as identified in Section 7.1(c) (i.e., of $243,912 for the period commencing July 1, 2018 through June 30, 2019, and $250,010 for the period July 1, 2019 through June 30, 2020) and increasing 2.5 percent annually thereafter during each Renewal Term and Extension Term, if any. (d)Payment of Additional Interim Management Fee. Successor Agency shall pay to Storm an “Additional Interim Management Fee” in the amount of $468,147 for the period commencing July 1, 2018 through June 30, 2019, and $479,851 for the period July 1, 2019 through June 30, 2020, which shall be payable in equal monthly installments. @BCL@B40DA93A.doc - 8 - The Annual Maintenance Fee together with the Additional Interim Management Fee will result total cash payment from the Successor Agency to the Storm of $712,059 for the period commencing July 1, 2018 through June 30, 2019, and $729,861 for the period July 1, 2019 through June 30, 2020 as consideration for services provided under the Stadium Operations Contracts and this Interim Agreement, which aggregate amount shall be payable in equal monthly installments of $59,338.25 for the period commencing July 1, 2018 through June 30, 2019, and $60,821.75 for the period July 1, 2019 through June 30, 2020. The Additional Interim Management Fee shall increase 2.5 percent annually over the prior year during each Renewal Term and the Extension Term, if any. During each Renewal Term and Extension Term, if any, the Successor Agency shall pay the Annual Maintenance Fee and the Additional Interim Management Fee in equal monthly installments. The Storm acknowledges and agrees that in no event will the Successor Agency be required to provide the Storm with any other form of payment for performance of the services as provided in this Interim Agreement. The parties acknowledge that the historic operating costs of the Stadium equal or exceed the compensation due to Storm hereunder and that it is in each of the party’s best interests to enter into this Agreement for the efficient use and operation of the Stadium. 6.Capital Repairs. Section 8 of the Interim Agreement, entitled “Capital Repairs,” is hereby deleted in its entirety and replaced with the following: 8.Capital Repairs. Capital Repairs shall be governed by the applicable provisions of the Stadium Operations Contracts. A Capital Repair Schedule with estimated costs budgeted for the period commencing July 1, 2018 through June 30, 2020 is set forth in Exhibit “C” attached hereto and incorporated by reference herein. Prior to December 31, 2018 and each December 31 thereafter during the Term, the General Manager, or designee, and the Executive Director, or designee, shall complete an annual Schedule of Capital Repairs, including estimated costs budgeted for the period commencing the following July 1 – June 30 in accordance with Section 2.4(b). The Executive Director or designee will designate certain Capital Projects that shall be subject to the Department of Public Works’ direct administration of the bid process and award of contract consistent with the applicable legal requirements. The Storm will undertake and complete such other Capital Repairs as set forth in Exhibit “C” as are mutually agreed. To the extent that The Storm undertakes such other Capital Repairs not undertaken by the Successor Agency, The Storm shall obtain not less than three (3) bids from qualified contractors unless otherwise excused by the Executive Director. Without limiting the Executive Director’s discretion, the bidding requirement herein may be excused in situations involving emergencies and sole source contractors. In addition, The Storm acknowledges the general requirement that certain Capital Repairs are subject to the requirements of California Labor Code Section 1720, et seq., and 1770, et seq., as @BCL@B40DA93A.doc - 9 - well as California Code of Regulations, Title 8, Section 16000, et seq., (“Prevailing Wage Laws”), which require the payment of prevailing wage rates with respect to certain capital improvements, repairs and maintenance work paid for in whole or in part out of public funds. Accordingly, The Storm agrees to, in the administrative of the bidding and contractor selection process, inform prospective bidders of the requirement to comply with the Prevailing Wage Laws. The Storm may confer with the Executive Director and seek direction with respect to whether or not a certain Capital Repair is subject to the Prevailing Wage Law. Prior to The Storm awarding a contract for a Capital Repair to a qualified contractor, the Executive Director shall: (i) confirm that The Storm has followed the proper bidding procedures for selection of a contractor; and (ii) approve the selection of the contractor and the form of any agreement between The Storm and the contractor. Upon completion of the Capital Repair (or a component thereof supporting a deposit or in-progress reimbursement), The Storm shall deliver to the Executive Director a written reimbursement request and supporting documentation (such as third party invoices, lien releases and cancelled checks). To the extent that the reimbursement request is for a completed Capital Repair, The Storm shall, if applicable, submit as-built drawings or similar plans and specifications for the items to be reimbursed. 7.Insurance. Section 10 of the Interim Agreement, entitled “Insurance” is hereby amended and restated in its entirety as follows: 10. Insurance. The Storm shall maintain insurance as set forth in Section 13 of the License Agreement at all times during the term of this Interim Agreement. In addition, the Storm shall maintain liquor liability coverage in an amount not less than $5 million at all times during the term of this Interim Agreement. The liquor liability coverage required pursuant to this Section 10 shall be separate from the coverage that may be required by the City of Lake Elsinore as a condition of approval to a Special Event Permit obtained in accordance with Section 4.3(b) herein. 8.City Manager/Executive Director. The City Manager of the City of Lake Elsinore serves in the capacity as Executive Director of the Successor Agency and all references to “City Manager” in the Interim Agreement shall be synonymous with “Executive Director” as used in this Fifth Amendment and vice versa. 9.Accuracy of Recitals. The Parties acknowledge the accuracy of the foregoing Recitals, which are incorporated herein by this reference. 10.Authority; Priority of Amendment. This Fifth Amendment is executed by the Parties’ authorized representatives. Except as expressly modified herein, all of the terms of the Interim Agreement shall remain unchanged and in full force and effect, and the Parties shall continue to fulfill their respective obligations under the Interim Agreement as amended by this @BCL@B40DA93A.doc - 10 - Fifth Amendment. To the extent of any conflict between the terms of the Interim Agreement and the terms of this Fifth Amendment, the terms of this Fifth Amendment shall control. 11.Captions. The captions appearing in this Fifth Amendment are for convenience only and are not a part of this Fifth Amendment and do not in any way limit, amplify, define, construe, or describe the scope or intent of the terms or provisions of this Fifth Amendment. 12.Counterparts. This Fifth Amendment may be executed in counterparts, each of which shall be deemed an original, and all of which together shall constitute but one and the same document. 13.Commencement Date. The provisions of this Fifth Amendment shall commence on July 1, 2018 (the “Commencement Date”). [SIGNATURES ON NEXT PAGE] @BCL@B40DA93A.doc - 11 - IN WITNESS WHEREOF, the parties have executed this FIFTH AMENDMENT TO STADIUM INTERIM MANAGEMENT AGREEMENT on the respective dates set forth below. “SUCCESSOR AGENCY” SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE Dated:By:___________________________ Grant Yates, Executive Director ATTEST: SUCCESSOR AGENCY SECRETARY By: __________________________ Susan M. Domen, MMC APPROVED AS TO FORM: LEIBOLD McCLENDON & MANN, P.C. Successor Agency Counsel By: ___________________________ Barbara Leibold “STORM” LAKE ELSINORE STORM LP, a California limited partnership By:GJJ STORM MANAGEMENT, LLC, a California limited liability company Its:General Partner Dated:By: ______________________________ Gary E. Jacobs, Manager EXHIBIT “C” EXHIBIT “C” CAPITAL REPAIR SCHEDULE DIAMOND STADIUM CAPITAL REPAIR SCHEDULE DESCRIPTION JULY 1, 2018 TO JUNE 30, 2019 JULY 1, 2019 TO JUNE 30, 2020 CONCESSION STAND #3 - COMPLIANCE HEALTH CODE $295,000 $- REPLACE APPLIANCES IN CONCESSION STAND #3 75,000 - STEEL BEAMS IN RAFTERS-REPLACEMENT 225,000 125,000 SIDEWALK REPAIRS/REPLACEMENT 50,000 50,000 UTILITY BOXES - REPAIRS/REPLACEMENT 35,000 135,000 SECURITY SYSTEM REPLACEMENT 119,950 SUITE CABINET REPAIRS/REPLACEMENT 165,000 330,000 UNDERGROUND SEWER AND PLUMBING PIPE REPAIRS 450,000 PRESS BOX AND INTERNAL BROADCAST SOUND SYSTEM -250,000 EMERGENCY CAPITAL REPAIRS 50,000 50,000 DIAMOND CLUB KITCHEN-COMPLIANCE HEALTH CODE 75,000 75,000 MAINTENANCE CREW - EQUIPMENT REPLACEMENT -130,000 ELEVATOR REPLACEMENT 150,000 - $1,689,950 $1,145,000 EXHIBIT “D” EXHIBIT “D” LAKE ELSINORE DIAMOND STADIUM SPECIAL EVENT PERMITS REQUIREMENTS OTHER STORM EVENTS 1. Spectator Parking and Attendants: a. The location of spectator parking is designated as the Diamond Stadium Parking lot(s) A & C. Parking Lot D is available excluding the fenced habitatarea. b. Parking Lot D must be cleared of all weeds, graded and properly stripped with parking stalls and travel lanes. c. Appropriate Staffing for parking fees and direction isrequired. 2. ADA Compliant: a. Provide ADA Accessible Parking as close as practicable to the tract and admission area. b. Provide ADA Restrooms as near as practicable to the track and concessionstands. c. Have personnel ready to assist handicap patrons as needed. 3. Event Access: a. Event access shall be coordinated with City Public Works DepartmentStaff. b. No modifications to dirt right of way are permitted (levee, MalagaRd). c. During hours of event operation, no vehicles shall be permitted to drive into, around, inside or leave the Event (base area). d. Access across private property for the Event Obstacle Course and Parking shall be secured with notarized right of entrypermission. 4. Vendors & Exhibitors: a. All vendors selling food shall have the appropriate Riverside County Health Department Permits and submit to the Special Events Coordinator 20 days prior to event. b. All vendors selling products/services are required to maintain a City of Lake Elsinore Business License during the duration of the event (for convenience, the City offers one-day businesslicenses). c. A minimum of an eight-foot aisle way shall be provided between concessions, waste and sanitationfacilities. d. Food vendors shall provide the equivalent of two 30-gallon trash containers within ten (10) feet of their concessions. e. Organizers shall provide one (1) standard booth space free of charge to theCity. 5. Removable Fencing a. All removable fencing (bike or concert) must be secured as on immovable object. Each section must be secured so it cannot be broken, separated or moved by patrons. The Fire Marshal and Law Enforcement representative shall inspect the fencing prior to gates opening for the event. EXHIBIT “D” 6. Crowd Control: a. All security officers must be crowd controltrained. 7. Generators: a. All liquid fuel generators shall have secondary containment and a spill kit located within 100 feet of the secondarycontainment. 8. Amplified Sound & Noise Level: a. Amplified sound, live music and performances are permitted during theevent. b. The Organizers shall not violate the City’s noise ordinance by disturbing the peace. 9. ABC Licensing andPermits: a. ABC Application to be submitted to the Sheriff’s Department no later than 20 days prior to the event. b. Applicant must comply with any and all requirements regulations indicated by the Department of Alcoholic Beverage Control. The issuance of an ABC letter is conditional and is subject to revocation for any violation of the Alcohol Beverage Control Act or other state law. Adequate security measures must be in place to secure all alcoholic beverages from patrons and to prevent accessibility tominors. i.Beer-ID checks on all persons 21 years and older wishing to purchase alcohol AND PUT A WRISTBAND ON EVERY PERSON 21 YEARS OR OLDER. ii.Limit of one (1) alcohol beverage per person persale. iii.Alcohol sales to cease one (1) hour prior to end ofevent 10. Event Staffing: a. Applicantwill provideadetailedsecurityplanindicatingsecuritystaffinglevels and assignments subject to Sheriff’s approval 20 days prior to the event. 11. Law Enforcement: To Be Determined Based on Dates, Times, Location & Anticipated Attendance a. Motor Officers - b. Officers - c. Sheriff Sgt. - d. Mileage - 12. Accessibility of Law Enforcement and EmergencyResponders: a. There shall be unobstructed access ways into the event for Law Enforcement and other emergency responders. There shall be clearly marked, unobstructed exits for patrons in the case of an emergency or the need for evacuationarises. 13. The Fire Safety requirements of the Lake Elsinore Fire Protection Planning are hereby referenced as a separate attachment and incorporated herein as part of the City’s conditions of approval. EXHIBIT “D” 14. Traffic Control: a. Traffic Control implementation and operation shall be according to the California Manual of Uniform Traffic Control Devices (CAMUTCD) or another City approved plan. b. Signal timing coordination may be required at the discretion of the City Traffic Engineer. c. Provide diagram in support of sufficient parking (i.e approx. 3,500 spaces for attendance of 10,000) – to be adjusted based on anticipated attendance. 15. Portable Toilets and Wash Stations: a. All portable toilets and rinse stations shall be placed on level ground, be anchored and have secondarycontainment. b. Provide sufficient # of portable toilets (regular and ADA accessible) for anticipated event turnout. Contact your rental source forguidance. 16. Trash and Clean-Up: a. CR&R has an exclusive franchise for trash service in the City. They shall be used for trash containers for recycled and non-recycled trash/waste and for trash disposal. b. Regular and recyclable trash containers shall be placed throughout the Vendor Village (aka Lot B) and parking lots (aka Lots A, C andD). c. Clean-up of Lot B, Vendor Village shall be accomplished using dry clean-up methods; in the event wet clean-up is warranted, catch basins shall be protected and at no time shall runoff be directed to the Levee/Lakearea. d. Best Management Practices shall be implemented during clean-up; no discharge into the Lake or City storm drain system isallowed. e. Organizers are responsible for same day clean-up of any tracking from the Event onto City streets (Diamond Circle, Malaga Road, Pete Lehr Drive,etc.) 17. Environmental: a. Organizers are responsible for ensuring that pollutants from the event do not enter the lake. City Municipal Code 14.08 defines "Pollutant"as: “Pollutant” means anything which causes the deterioration of water quality such that it impairs subsequent and/or competing uses of the water. Pollutants may include but are not limited to paints, oil and other automotive fluids, soil, rubbish, trash, garbage, debris, refuse, waste, hazardous waste, chemicals, animal waste, offensive matter of any kind. b. If event dirt is imported from outside the back basin area, it shall be removed from the back basin area after the event. i.A haul route is required for all import. ii.Hauling from a site in within the City limits requires a grading permit on the export site. iii.For import of more than 5,000 cubic yards, City Council Approvalis required. c. If event dirt is secured from within the back basin area, it may be returned to the source. All disturbed areas shall be returned to the pre-disturbance condition as closely as possible. d. Catch basins in the field maintenance area shall be protected from event related EXHIBIT “D” discharge. e. If a rain event is forecast (10% chance or better) or occurring during a scheduled event, off site catch basins at Pete Lehr and Malaga Road shall beprotected. 18. Insurance: a. The Organizer(s) shall provide the City with a certificate(s) of insurance in the following amounts (subject to change based upon review of Special Event Permit Application): □General Aggregate Per Event:$5,000,000 □Auto Liability:$1,000,000 □Workers Comp:$1,000,000 □Alcohol:$5,000,000 b. The Organizer’s shall use the following additionally insured statement: City of Lake Elsinore its officers, elected and appointed officials, officers, agents, and employees are named as additional insured per attached ISO form CG20 10 11 85. 19. Promotion/Marketing Plan: a. The Organizer(s) shall provide the City with a promotional/marketing plan demonstrating the anticipated attendance. b. All promotional/marketing materials shall include the name “Lake Elsinore Diamond Stadium.” 20.The City assumes no responsibility for event related damage or repairs to theStadium. 21.Summary of Fees: City Permit Application Processing Fee:Prevailing Rate as of Application Date City Refundable Security Deposit Fee:“ City Department Inspection Fee:“ Sheriffs Law Enforcement Fees (Paid to RSO):“ 22.The Special Event Permit may be revoked summarily by the City for non-compliance with any of these conditions as set forth above. Required information/documentation due no later than twenty (20) days prior to the event to the City of Lake Elsinore Special Event Coordinator: □Conditions of Approval (2 copies with wet signatures andinitials) □Payment of Event Fees □Security Deposit (on-file) □Vendor List □Business License(s) □Health Department Permit □Insurance Documentation □Fire Safety Plan □Traffic Control Plan Text File City of Lake Elsinore 130 South Main Street Lake Elsinore, CA 92530 www.lake-elsinore.org File Number: ID# 17-510 Agenda Date: 1/29/2018 Status: BusinessVersion: 2 File Type: ReportIn Control: Oversight Board Agenda Number: 6) Page 1 City of Lake Elsinore Printed on 1/25/2018 Page 1 of 2 REPORT TO OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE To:Chairperson Kelley and Members of the Oversight Board From:Barbara Leibold, Successor Agency Counsel Date:January 29, 2018 Subject:Recognized Obligation Payment Schedule (ROPS 18–19) for July 1, 2018 through June 30, 2019 Recommendation Adopt A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, CALIFORNIA APPROVING THE AMENDED RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS 18-19) FOR JULY 1, 2018 THROUGH JUNE 30, 2019 Background As part of the dissolution of the former Redevelopment Agency, Health and Safety Code Section 34177 (added by AB 1X 26, as amended to date) requires the Successor Agency to adopt a Recognized Obligation Payment Schedule (ROPS) that lists all obligations of the former redevelopment agency that are enforceable within the meaning of subdivision (d) of Section 34167 for each twelve month period of each fiscal year. The Successor Agency has previously adopted ROPS for prior twelve month periods. The previous ROPS have been approved by the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore and the State Department of Finance (DOF). Discussion Applicable law requires that the ROPS for July 2018 through June 2019 be submitted to DOF and the State Controller’s office, after approval by the Oversight Board, no later than February 1, 2018. The DOF has five (5) days after submittal to request a review and forty-five (45) days to review the ROPS if it decides to do so. If the ROPS is not submitted by the deadline, the City is subject to a $10,000 fine for every day the ROPS is late and the administrative cost allowance for the Successor Agency is reduced by 25% after 10 days. As the Successor Agency winds down the former Redevelopment Agency, the primary remaining enforceable obligations are the outstanding bonds, Stadium operation and maintenance, and the Summerly Disposition and Development Agreement. A new Line Item 35 has been added to reimburse the City for funding the Administrative Fund shortfall in RPTTF allocation to the Successor Agency from ROPS 17-18B. In addition, Line Items 46 and 47 have been added to the ROPS 18-19 in anticipation to the issuance later this year of Tax Allocation Bonds pursuant to the Summerly DDA and as approved by DOF. These items are presented on the ROPS in a manner consistent with previous ROPS. Approval of ROPS 18-19 Page 2 of 2 The attached ROPS 18-19 for the period July 1, 2018 – June 30, 2019 follows the form prescribed by the DOF and incorporates all of the remaining obligations identified in the previous ROPS. Prepared By:Barbara Leibold, Successor Agency Counsel Attachments: Oversight Board Resolution No. OB-2018-___ Recognized Obligation Payment Schedule of the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore for the period of July 1, 2018 through June 30, 2019 (ROPS 18-19) RESOLUTION NO. OB-2018-___ A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS 18-19) FOR JULY 1, 2018 THROUGH JUNE 30, 2019 WHEREAS, the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore (the “Oversight Board”) has been established to direct the Successor Agency to take certain actions to wind down the affairs of the former Redevelopment Agency of the City of Lake Elsinore (the “Agency”) in accordance with the California Health and Safety Code; and WHEREAS, Senate Bill (SB) 107, enacted in September 2016, added Health and Safety Code Section 34177(o) requiring the Successor Agency to prepare and adopt a “Recognized Obligation Payment Schedule” that lists all obligations of the former redevelopment agency that are enforceable within the meaning of subdivision (d) of Section 34171 for twelve month periods, including July 2018 through June 2019; and WHEREAS, applicable law requires that the ROPS 18-19 for the period July 1, 2018 through June 30, 2019 be submitted to the Department of Finance and the State Controller’s office, after approval by the Oversight Board, no later than February 1, 2018 or be subject to penalties; and WHEREAS, on January 23, 2018, the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore considered and approved the Recognized Obligation Payment Schedule 18-19 for the period July 1, 2018 through June 30, 2019; and, WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred. NOW, THEREFORE, THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS: SECTION 1.The Recitals set forth above are true and correct and incorporated herein by reference. SECTION 2.The Oversight Board hereby approves the Schedule attached hereto as Exhibit A as the Recognized Obligation Payment Schedule 18-19 for the period July 1, 2018 through June 30, 2019. Pursuant to Health & Safety Code Section 34173, the Successor Agency’s liability, including, but not limited to, its liability for the obligations on the attached schedule, is limited to the total sum of property tax revenues it receives pursuant to Part 1.85 of AB X1 26. SECTION 3.If any provision of this Resolution or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this Resolution which can be given effect without the invalid provision or application, and to this end the provisions of this Resolution are severable. The Successor Agency hereby declares that it would have adopted this Resolution irrespective of the invalidity of any particular portion thereof. Resolution No. OB-2018-___ Page 2 of 4 SECTION 4.This Resolution shall take effect from and after the date of its passage and adoption in accordance with, and subject to, all applicable requirements of the Health & Safety Code. PASSED, APPROVED AND ADOPTED by the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore, held this 29th day of January, 2018. Genie Kelley, Chair ATTEST: Susan M. Domen, MMC, Oversight Board Secretary Resolution No. OB-2018-___ Page 3 of 4 STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss. CITY OF LAKE ELSINORE ) I, Susan M. Domen, MMC, Secretary of the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore, California, hereby certify that Resolution No. OB - 2018- was adopted by the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore at a Regular meeting held on the 29th day of January, 2018 by the following vote: AYES: NOES: ABSTAIN: ABSENT: Susan M. Domen, MMC, Oversight Board Secretary EXHIBIT A ROPS 18-19 Successor Agency:Lake Elsinore County:Riverside Current Period Requested Funding for Enforceable Obligations (ROPS Detail) 18-19A Total (July - December) 18-19B Total (January - June) ROPS 18-19 Total A 3,879,832$ 2,057,937$ 5,937,769$ B - - - C 3,618,595 1,796,701 5,415,296 D 261,237 261,236 522,473 E 7,616,452$ 7,517,896$ 15,134,348$ F 7,394,614 7,298,928 14,693,542 G 221,838 218,968 440,806 H Current Period Enforceable Obligations (A+E):11,496,284$ 9,575,833$ 21,072,117$ Name Title /s/ Signature Date 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. 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 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 $ 157,476,550 $ 21,072,117 $ - $ 3,618,595 $ 261,237 $ 7,394,614 $ 221,838 $ 11,496,284 $ - $ 1,796,701 $ 261,236 $ 7,298,928 $ 218,968 $ 9,575,833 1 Tax Allocation Revenue Bonds, 2010 Bonds Issued On or Before 2/1/2010 9/1/2033 Wilmington Trust Bond issue to fund housing & non-All 19,744,000 N $ 1,670,110 677,628 306,241 $ 983,869 686,241 $ 686,241 2 Tax Allocation Revenue Bonds, 2010 Series B Bonds Issued On or Before 12/31/10 5/1/2010 9/1/2025 Wilmington Trust Bond issue to fund housing projects Housing 7,501,313 N $ 1,746,019 804,769 122,625 $ 927,394 818,625 $ 818,625 3 Tax Allocation Revenue Bonds, 2010 Series C Bonds Issued On or Before 12/31/10 11/1/2010 9/1/2030 Wilmington Trust Bond issue to fund non-housing projects Project I and II 28,856,254 N $ 3,987,656 1,766,198 435,729 $ 2,201,927 1,785,729 $ 1,785,729 12 Summerly DDA OPA/DDA/Construction 3/11/2011 9/8/2038 McMillin Summerly LLC and Civic Partners-Elsinore LLC DDA pledges a portion of property tax revenues through 2038. Total outstanding debt or obligation is estimated based on projections of tax revenue growth at 2% per annum. If property values and corresponding revenues grow at a higher or lower rate than 2% per annum, the total obligation will similarly increase or decreased. DDA pledges a portion of tax increment for so long as the Agency receives tax increment Project II and III 35,394,811 N $ 2,682,501 643,874 $ 643,874 1,279,146 759,481 $ 2,038,627 13 Summerly DDA Extraordinary Infrastructure Fund OPA/DDA/Construction 3/11/2011 9/8/2038 Mc Millin Summerly LLC DDA pledges a portion of property tax revenues through 2038. Total outstanding debt or obligation is estimated based on projections of tax revenue growth at 2% per annum. If property values and corresponding revenues grow at a higher or lower rate than 2% per annum, the total obligation will similarly increase or decreased. DDA pledges a portion of tax increment for so long as the Agency receives tax increment Project II and III 6,665,943 N $ 392,730 82,875 $ 82,875 200,055 109,800 $ 309,855 18 City Reimbursement LERA Bonds Issued After 12/31/10 7/1/2000 2/1/2032 City of Lake Elsinore City Reimbursement LERA - Debt Service All 16,937,000 N $ 1,445,600 564,050 $ 564,050 317,500 564,050 $ 881,550 19 Housing Fund Loan SERAF/ERAF 5/1/2010 9/8/2038 Housing Fund Repayment of SERAF All 2,063,788 N $ 1,235,397 1,235,397 $ 1,235,397 $ - 20 Housing Fund Loan Third-Party Loans 12/1/1995 9/8/2038 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 27,182,754 N 1,996,361 1,163,600 1,163,600 832,761 832,761 22 Legal Services Fees 9/27/2005 6/30/2023 Leibold McClendon & Mann Legal services for projects, bonds & DDA/Stadium Agreement compliance. All 100,000 N $ 100,000 60,000 $ 60,000 40,000 $ 40,000 23 Consultant Fees Fees 10/23/2007 9/8/2038 HdL Coren & Cone Tax Projections for bond & DDA compliance All 16,280 N $ 16,280 8,140 $ 8,140 8,140 $ 8,140 28 Estimated Admin Cost Admin Costs 2/1/2012 9/8/2038 City of Lake Elsinore City Staff Support/other admin reimbursement All 440,806 N $ 440,806 221,838 $ 221,838 218,968 $ 218,968 29 Stadium License Agreement Miscellaneous 3/15/2001 12/31/2026 Lake Elsinore Storm, LP License to use stadium for baseball games Project III 522,473 N $ 522,473 261,237 $ 261,237 261,236 $ 261,236 30 Stadium Maintenance Agreement Property Maintenance 3/15/2001 12/31/2026 Lake Elsinore Storm, LP Agreement to maintain baseball field and facilities Project III N $ - $ - $ - 31 Stadium Concession Agreement Miscellaneous 1/30/2002 12/31/2026 Golden State Concessions and Catering Provision of concessions for baseball games Project III N $ - $ - $ - 32 Stadium Operation and Maintenance Property Maintenance 1/1/2013 9/8/2038 Various Operation and maintenance of the baseball stadium Project III N $ - $ - $ - 33 Interim Stadium Management Agmt.Miscellaneous 1/1/2013 6/30/2020 Lake Elsinore Storm, LP Stadium Maintenance and Management Project III 2,715,825 N $ 2,715,825 1,514,821 $ 1,514,821 1,201,004 $ 1,201,004 34 Riverside County Flood Control District Improvement/Infrastructure 12/26/1989 7/18/2034 None None Project I and II Y $ - $ - $ - 35 Administrative Reimbursement RPTTF Shortfall 2/1/2012 9/8/2038 City of Lake Elsinore Repayment for City Staff Support/other All 159,765 N $ 159,765 159,765 $ 159,765 $ - 38 Contract for Auditing Services Fees 6/25/2013 6/25/2018 TRS Bond disclosure compliance All N $ - $ - $ - 39 Bond Disclosure Services Fees 1/28/2015 2/15/2038 Urban Futures Bond disclosure compliance All 115,700 N $ 8,100 $ - 8,100 $ 8,100 40 Property Maintenance Property Maintenance 9/13/2009 6/30/2019 Various Maintenance cost on Agency property Project III N $ - $ - $ - 41 Subordinated Tax Allocation Refunding Bonds, Series 2015 Bonds Issued After 12/31/10 8/25/2015 9/1/2038 Wilmington Trust Bond issue to refund Tax Allocation Revenue Bonds, 2011 Series A and Local Agency Revenue Bonds, 2011 Series A All 8,295,138 N $ 1,332,394 370,000 479,897 $ 849,897 482,497 $ 482,497 42 Fiscal Agent Fees Fees 8/1/2015 9/1/2038 Wilmington Trust Annual fiscal agent fees for bonds issues All 154,700 N $ 10,100 7,600 $ 7,600 2,500 $ 2,500 43 Housing Authority Admin. Cost Admin Costs 2/18/2014 12/31/2018 Lake Elsinore Housing Successor Administrative Cost All 600,000 N 600,000 600,000 600,000 44 Reconveyance Cost Property Dispositions 5/1/2015 6/30/2019 Various Appraisals, Title Insurance, Escrow and Closing Cost All 10,000 N $ 10,000 10,000 $ 10,000 $ - 45 Arbitrage Fees Fees 1/28/2015 2/15/2038 Various Arbitrage fees for bonds All N $ - $ - $ - 46 Third Lien Tax Allocation Bonds, Series 2018A Bonds Issued After 12/31/10 3/5/2018 3/1/2038 Wilmington Trust Bond issue to refund Developer Obligation II and III N $ - $ - $ - 47 Third Lien Tax Allocation Bonds, Series 2018B (Federally Taxable) Bonds Issued After 12/31/10 3/5/2018 3/1/2038 Wilmington Trust Bond issue to refund Developer Obligation II and III N $ - $ - $ - 48 N $ - $ - $ - 49 N $ - $ - $ - 50 N $ - $ - $ - 51 N $ - $ - $ - 52 N $ - $ - $ - 53 N $ - $ - $ - 54 N $ - $ - $ - 55 N $ - $ - $ - 56 N $ - $ - $ - Fund Sources Fund Sources Contract/Agreement Termination Date ROPS 18-19 Total 18-19B (January - June) 18-19A Total Lake Elsinore 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 Item #Notes/Comments 1 Due to an anticipated ROPS 18-19B RPTTF Shortfall Amount shown in Column O is reserved for debt service due during the ROPS 18-19B Period 2 Due to an anticipated ROPS 18-19B RPTTF Shortfall Amount shown in Column O is reserved for debt service due during the ROPS 18-19B Period 3 Due to an anticipated ROPS 18-19B RPTTF Shortfall Amount shown in Column O is reserved for debt service due during the ROPS 18-19B Period 6 7 8 10 11 12 A portion of the amounts shown in column S will be used to pay the 3/01/2019 and 9/01/2019 debt service on the proposed 2018 Bonds. Once the Third Lien Tax Allocation Bonds, Series 2018A and Third Lien Tax Allocation Bonds, Series 2018B (Federally Taxable) (collectively, "the Bonds") are issued, the Developer/Master Developer Obligation will reflect net of the amounts not necessary to pay debt service on the Bonds. 13 A portion of the amounts shown in column S will be used to pay the 3/01/2019 and 9/01/2019 debt service on the proposed 2018 Bonds. Once the Third Lien Tax Allocation Bonds, Series 2018A and Third Lien Tax Allocation Bonds, Series 2018B (Federally Taxable) (collectively, "the Bonds") are issued, the Developer Obligation will reflect net of the amounts not necessary to pay debt service on the Bonds. 14 15 18 Amount shown in Column O includes $317,500 reserved for debt service due during the ROPS 17-18B Period 19 20 The Lake Elsinore Sucessor Agency disagrees with the Department of Finance's denial. The Successor Agency will continue to list this obligation as enforceable, in anticipation of a court judgment or reversal of policy by the Department sustaining the Successor Agency's position. 22 23 28 29-32 The obligations for line items 29 -32 for the twelve month period covered by ROPS 18-19 are incorporated into line 33 in accordance with the terms of the Interim Stadium Management Agreement. 33 This line items references the Interim Stadium Management Agreement for Stadium management, operations and maintenance, as amended, for the fiscal year 2018- 19 (July 1, 2018 - June 30, 2019). Amount shown includes ROPS 17-18B cost - $313,816 not funded due to RPTTF shortfall. 34 35 ROPS 17-18B Administrative Cost not funded due to RPTTF shortfall. 38 In accordance to DOF this obligation is included within the Administriative Allowance. 39 Includes anticipated cost for services related to the proposed 2018 Bonds. 40 41 Amount shown in Column U includes $380,000 reserved for debt service due during the ROPS 19-20A Period. 42 Includes anticipated cost for services related to the proposed 2018 Bonds. 43 44 45 46 Proposed 2018 Bonds to fund the Developer and Master Obligations under the Summerly DDA (Line Items 12 and 13) 47 Proposed 2018 Bonds to fund the Developer and Master Obligations under the Summerly DDA (Line Items 12 and 13) Lake Elsinore Recognized Obligation Payment Schedule (ROPS 18-19) - Notes July 1, 2018 through June 30, 2019