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Resolution Number SACRA 15-02-17-01 RESOLUTION NO. SACRA 15-02-17-01 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE, SUCCESSOR AGENCY TO THE SAN JUAN CAPISTRANO REDEVELOPMENT AGENCY ADOPTING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD FROM JULY 1, 2015, THROUGH DECEMBER 31, 2015, AND AUTHORIZING CERTAIN OTHER ACTIONS PURSUANT TO CALIFORNIA HEALTH & SAFETY CODE SECTION 34181(8) WHEREAS, the San Juan Capistrano Community Redevelopment Agency ("Agency") was a community redevelopment agency duly organized and existing under the California Community Redevelopment Law, Health & Safety Code Section 33000, et seq., which was authorized to transact business and exercise the powers of a redevelopment agency pursuant to action of the City Council ("City Council") of the City of San Juan Capistrano ("City"); and, WHEREAS, Assembly Bill X1 26 added Parts 1.8 and 1.85 to Division 24 of the California Health & Safety Code, which laws cause the dissolution and wind down of all redevelopment agencies ("Dissolution Act"); and, WHEREAS, on December 29, 2011, in the petition California Redevelopment Association v. Matosantos, Case No. S194861, the California Supreme Court upheld the Dissolution Act and thereby all redevelopment agencies in California were dissolved as of and on February 1, 2012, under the dates in the Dissolution Act that were reformed and extended thereby; and, WHEREAS, the Agency is now a dissolved redevelopment agency pursuant to the Dissolution Act; and, WHEREAS, by a resolution considered and approved by the City Council at an open public meeting the City chose to become and serve as the successor agency to the dissolved Agency under the Dissolution Act; and, WHEREAS, as of and on and after February 1, 2012, the City Council serves and acts as the "Successor Agency" and will perform its functions as the successor agency under the Dissolution Act to administer the enforceable obligations of the Agency and otherwise unwind the Agency's affairs, all subject to the review and approval by a seven-member oversight board ("Oversight Board"); and, WHEREAS, Assembly Bill 1484, enacted on December 27, 2012, made certain amendments to the Dissolution Act, including with respect to the process for adopting Recognized Obligation Payment Schedules; and, WHEREAS, pursuant to Section 34171(h) of the Dissolution Act, a "Recognized Obligation Payment Schedule" means the document setting forth the minimum payment amounts and due dates of payments required by enforceable obligations for each six- month fiscal period as provided in subdivisions (1) and (m) of Section 34177 of the Dissolution Act; and, WHEREAS, pursuant to subdivisions (1) and (m) of Section 34177 of the Dissolution Act, staff of the City, acting on behalf of the Successor Agency, has prepared the Recognized Obligation Payment Schedule for the period covering July 1, 2015, through December 31, 2015, (BOPS 15-16A), in the form attached to this Resolution as Exhibit A and incorporated herein by this reference; and, WHEREAS, pursuant to Section 34177(l)(2)(B) of the Dissolution Act, staff of the City, acting on behalf of the Successor Agency, is required to provide notice of the Oversight Board's consideration of the ROPS 15-16A, along with the ROPS and the staff report submitted to the Oversight Board, to the County Administrative Officer, the Orange County Auditor-Controller, the State Controller's Office, and the State Department of Finance, concurrently with the posting of the Agenda for the Oversight Board's consideration of the BOPS 15-16A; and, WHEREAS, the Successor Agency now desires to approve the ROPS 15-16A, ratify all actions taken by City staff to prepare the ROPS 15-16A, and transmit the ROPS 15-16A to the Oversight Board for its consideration. NOW, THEREFORE, BE IT RESOLVED BY THE SUCCESSOR AGENCY OF THE SAN JUAN CAPISTRANO COMMUNITY REDEVELOPMENT AGENCY: Section 1. The foregoing Recitals are incorporated into this Resolution by this reference, and constitute a material part of this Resolution. Section 2. The Successor Agency hereby approves the ROPS 15-16A in the form attached to this Resolution as Exhibit A, which is incorporated herein by this reference. Section 3. The Successor Agency hereby authorizes the Executive Director and/or the Finance Officer, acting on behalf of the Successor Agency, or their authorized designees, to make such augmentations, modifications, additions or revisions as they may deem appropriate. Section 4. The Executive Director or her authorized designees are directed to transmit the approved ROPS to the Oversight Board, the County Administrative Officer, the County Auditor-Controller, the State Controller's Office, and the State Department of Finance, and to cause the approved ROPS to be posted on the City's website, all in accordance with Section 34177(l)(2)(C) of the Dissolution Act, and take other actions necessary to obtain approval of the BOPS from the Oversight Board and the State Department of Finance. Section 5. This Resolution shall take effect immediately upon adoption. Section 6. The Secretary shall certify to the adoption of this Resolution. PASSED, APPROVED and ADOPTED this 17th day of February 2015. K4rry K. Fe, s n Ch i ATTE T: Ma e- rbt",: ry STATE OF CALIFORNIA COUNTY OF ORANGE ) ss. CITY OF SAN JUAN CAPISTRANO 1, MARIA MORRIS, appointed Agency Secretary of the Board of Directors of the Successor Agency to the San Juan Capistrano Community Redevelopment Agency, do hereby certify that the foregoing Resolution No. SACRA 15-02-17-01 was duly adopted by the City Council of the City of San Juan Capistrano at a Regular meeting thereof, held the 17th day of February 2015, by the following vote: AYES'E�S]i B ARD MEMBERS: Patterson, Perry, Reeve, Allevato and Chair Ferguson NO"'�I/' B ARD MEMBERS: None y E� S NO B A ARD ' A AB",8N T: P� D MEMBERS- None M MA 'I. 4PA fZ 0 F�,R I S, Agency Sreta ry Recognized Obligation Payment Schedule (ROPS 15-16A) -Summary Filed for the July 1,2015 through December 31,2015 Period Name of Successor Agency: San Juan Capistrano Name of county: Orange Current Period Requested Funding for Outstanding Debt or Obligation Six-Month Total Enforceable Obligations Funded with Non-Redevelopment Property Tax Trust Fund(RPTTF)Funding A Sources(B+C+D): $ 1,506,990 B Bond Proceeds Funding(BOPS Detail) 1,488,481 C Reserve Balance Funding(ROPS Detail) - D Other Funding(BOPS Detail) 18,509 E Enforceable Obligations Funded with RPTTF Funding(F+G): $ 2,647,810 F Non-Administrative Costs(ROPS Detail) 2,522,810 G Administrative Costs(RODS Detail) 125,000 H Current Period Enforceable Obligations(A+E): $ 4,154,800 Successor Agency Self-Reported Prior Period Adjustment to Current Period RPTTF Requested Funding I Enforceable Obligations funded with RPTTF(E): 2,647,810 J Less Prior Period Adjustment(Report of Prior Period Adjustments Column S) (214,410) K Adjusted Current Period RPTTF Requested Funding(W) $:: 2,433,400 County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding L EnforceabWObligatians funded with RPTTF(E): 2,647,810 tVl Less Prior period Adjustment(Report of Prior Period Adjustments Column AN N Adjusted current Period RPTTF Requested Funding(�-M) 2,847,810 Certification of Oversight Board Chairman: Laura Freese Chair Pursuant to Section 34177(m)of the Health and Safety code, I hereby certify that the above is a true and accurate Recognized Dame 'Title Obligation Payment Schedule for the above named agency. Isl 24-Feb-15 Signature Date EXHIBIT A- Page 1 Recognized 0biigatlon Payment Schedule(ROPS 15-16A)-ROPS Detail July 1,2015 through December 31,2615 (Report Arwunis in whole Drylnrs) A B C O E F G H i J K L h1 N b P t-'analog s�nr�e �Non.Re6evelnpmert Property 3.ax,rust Fund RarnRP77C3 RP'F1'F CnnT—Mgreemen' s,ra—t%,aamsnt Tntai 0 i andno ?ten;# Pro act-Name l Debt Obligation 0ira anon,' e E.kEClifon Gale Ten'n,netlon Oats paee D .nplo:JP-c'en Sc6 PEoect Area 7ebl ObF a-- RaEired µOng Procseds Reserve BaVance Other Funds Non-Admin Adm:[! 5!x-Mo_n'h Total -- "' --- 3 61.181.554 $ 1,488481 5 - - 5 A8.509 $ 2.522.810 € 125 Ono 1$ 4 154 800 119975.ibordinatod9axirle'I ax (i005 Issued 0n or 516!1997 811!291'7 Housing Projects Centrad 515,413 Ni 157,&26 $. 157.925 0-1 on Bonds Ref ore 121131110 _ ----219n8 Tax pJlocafi on f2cl',rdsng Bonds Issued On or 524.+1598 el112615� [1,5,Bark,N.A, Adva'tce rZeNncFng of the?991'tax Centra[ ?,023,081 N m__....... 498.706 _$: 498,2 Ob Bands Before 121311'0 Allocation 8antls 3 200y TAlhocntion 9onds,SerSes A Bonds Issued OM1 d' 673;20 9 &!1!2033 U.S,klank,N,A, ce Agency PrdjeM.s=n the C"t,A CerR'al 12,055,553 N 458:497 $ 4"997 T- 13'10ue 12131110 Project Area conslstenl with tfie Redevelopment Plan _ 4 2078 Tax Aii—ti,n Bonds.Series gangs Issued On or 513120Do 81172033 U.S.Bank NA Financo Agency ANnrdabn,!Housing Central 16,940,308 N 36g,613 --8 359,613 R STaxable) Bemre 72/31110I pmects . 5 Tax Allocation Fond Reserve Set- Resen'es 11112014 17131!20'15 U.S.Bank,NA R,-".set-asioe fw August 1,2033 Central - N _5 - Mide(Fee Nates) deb service payment-PW Cade I Section 3417lib) 6 OPA-Fluidmaster OPFVG[)A,Cens!rucll 5117;1997 W301201 Fluldmaster,Ir,F Lliminaion of Bligl1E^onomic Cen€rel 194,760 N 40,009 5 4a no Cevelnprrem _ _ _, _, 7 GPA-C pistn,-VclRsvmgen _..OPArDDAIConssr:.cti 4117;2001 3130(2020 mm Miles flrandon Elimination of FAjWRi:siness CrnL-a1_ 346,783 N $ On Rafeni 9 OPA-sierra Viste Of AV?NCo,si 41112003 613012023 Sierra Vi5!a Psdners 'elimination of 9!IgMIE.^ona^cic Central 58,077 N 8,000 on 1-Jevelopmen-t 9 A3reeme,ll TCAC,Ford 0i'AlOE7AlConst^.icti .Olt 9!2616 311293& Tuttie Clack Aut—n- EE°,mirati—f Bllg!rJBus neer Central 1,443,51Y2 N `SO;JOC S 1513.DDG nn Group(TCAG.Inc-) Retention 10 Agreement-OC Chrysler npA10DWConsi1L10 1,712011 61302031 Chrysler Grevp Ream!Ca„ Elirmn.di—cf B1g1,YFI lic Ccaa € 3,155,778 N 100,000 $ 100 Ono LLc Geve[o^,ai1e:^,f 1tl-1 Rosen Ranch-Loan Payabin TfOd-P.,N i.n@ns 71612011 y%6!2096 Fafiner's&Merchants Bank Prcpedy Acgtrisitinnrrxnomic Central 3,525,125 N 138,77'7 5 198.7i'Y f See Notes) IJevelapmem 1z Ki—finita A.cqu-sit:on-Note Thi.-N,ly Loans 2)282911 3!12021 Kir—ita F;a1V1ises,LP_ V=rofmrty Aoq:lisii&Ag. Central 5,3213,37° N 117,494 :5', 117.494 Ed--,i;ntsat payments p—en•atlen thrasgh Man-t,2021) 13Kincshia Acpu1ss11on-Note Thsd-Pady Loans 2!25,101'1 3f12021 Bobby Kinost,ita loves:meet PropertyAmuisRianloarks SPg Cenral 5.544.130 N 722407 8 122.401 E#erelon(;n;z-est payr.:ens IBcterprisys,L.P. PrnsorvaEicn , 'throw h March ,2621 SY g .r .... �. .. F$'E ,y.0 .r - �1 ;?� -Y, .�- .'A i Y3�.= „�'�,�I�t ^c'�i ��', ��.��r.:?f�. sr' � �S -,f!�, ,�� €.,r7.- a �.,�✓` l..rf.3�i.,.f "., '.' ,�.,} '� 5 Svc ?. :�1. €'f✓r f i � � -s� 1�,.;/ �'. :�- S {{� (j L..L, 7� }irif , :ri r:v< -1 ;, � '1 ,:vfr,.✓E'�✓,t-2- ... .,� J- t f.)I #..5. t}�: � x�fi ;..0x1. � �s'Yt � sb.? s rtt r._ F.....,: _.,...>.":.1L;}�,':�>. � ... .T sup ��: t :<1. 1. 'vl=.�:.�3;_-,��1�s�4d..,3ts } ;:'t,.-13 ,�t r..d Lam:,- _ :, -..rS 3 ..,..: `-.-�-��'.,t�•.. ,r/>s„ .�,. ,=fLt y�.,r,r-, 5a, .�; 15 Cooperation Acrs dt-Cap!strar-o CirylCounty 1,owns 315;^985 5!30;2015 City cf San Juan Capistrano Ceveloper Ase:s:anceiA.orda„t. Central Y s Poirn=IS-Nctes) On or Before 6127!11H—ng 16 Tax anticipation Agreement CIrylCdarny t.osns WT1588 613012026 City of San 3uan Capiw-t Eiiminat3on of 011gM.lecono^+.ic Genlra[ 1 481,885 Y 150,00© .:$ 150-000 ,C�y1Agercy L.-611-See hates) Cn or Before F427I11 Deve!op—t 17 Trull,A,,wlsitlon-Law'AQreernent CCylCounty loans 10lt11998 613Gf2026 City of San Juan Captsano Property Aequis$IDnIEI:,^tinv5an of Cw.1 405.725 N 501000 -15. SO,a0f, {CiytAgencv Lean?t2-See Notes) On or Before&'27111 Bllgbt 18 m—,trafon_ar Ag-,.--t CitylCounly Loans 6r^i200t'. 2:!3^42026 CC.y of 1'3-'j".,.Capistrano a',+,n,.,51;a'rpnlProject C-1, Central �1fi79,785 Ni -$' ;(C�.!yfApEncy i.oan 43-See Notts) On 4r Set-627!11 28 AdmiPistr2it4e CPsi Al€OWdnrG Admin Costs 7:1!2014 12.131 Win City of SaG=—Capistrano 3°F,allover-cP.for @d;n:itisl"a54e[ds!S Ce!.CY2! 125,nOG N 125 fJ:1. 'S 125 ODO red 29 Adntinlstra5lvs Costs frld,other Admin Cagts 711(1014 12131,'20'15 Va'iovs Vendors Sacbn 34171!b)-Costs An^,c7.e,- Central 1" $ solaces sources-Band Admin!,-iron, postage, .31 P?epe.ryhdaint,,-ce Property 7!112014 1213112-015 Various Vendors Section 341711E)-cost ct malt?wining C-1410,0,70 N 10,000 "$', -- 1aDoa Malntenanca assets tsior to disposition 32 Leyai osis assoc atM vnth assets, Litgation 8!221199". 12131,2915 SL•a4dling.Yxcn,Carlson 3Sect on 34':'1(bl-^cat, E--rtair:-g Central SC-,COC N 509 49,49? $. SC:OCC -.,._o�k3ah ons an6 prrpe.�y, 8 Rau[h.., ia65et51'.ilpr?a dispcsi'ian - � ________ „-._, EXHIBIT A-Page 2 Recognized Obligation Payment Schedule(ROP$15-16A)-ROPS Retail July 1,2015 through December 31,2015 (N.port Amounts is Vvmols Dollars) A 6 C o E F G H I 3 K n P I Fundir�Source Non-Redevzlaptnent P�ry Tax Trus'Fond f! Nan-RPTTF RPTTF Cortrar.VA�reemen; ContracVAg:nemen:E TotaE Ou{st2nding Item# Proect Name l Debt Obli atw Obli M*n Type F_xe AuY i]ats 'I'ormina?ion De. P.Y.. ❑escri ionls ro eC Sw Pro'ect Area Oebt or 0M A1- iRehred Sao dProceeds Reserve 5a1ance Other Funds Non-Admin Ad— Sir.-Month Total s, r i` . f„s:vim$' rl I t �f.3k'.` 5�, �§ff� ?,` .T.rb"5t�is �, Y�. B'` y-+ fs--,•3'(f�. "rr 5 i. -t$L,;<'s - ra l9ordable ilpuSEn&Projeci5lExcess OPM'1)GNCenSEYud?'7f1r21M1k 72/31)2935 San Juan Cep streno Acqu orlon of proPr`-ty,desig=arvJ�� 1 a88,4S1 N t,egg,4Ht 5 1,488,481 -und Prrcex3;otNMIon on Housing Fwlhorlty T86 rst—Am,of existirg dIh,Cr—} grid other potentla3 aYcrdaE7c housing pr jests EXHIBIT A-Page 3 Recognized Obligation Payment Schedule(BOPS 15-16A)-Report of Cash Balances (Report Amounts in Whole Dollars) Pursuant to Health and Safety Code section 34177(1),Redevelopment Property Tax Trust Fund(RPTTF)may be listed as a source of payment on the ROPS,but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obligation. For tips on how to complete the Report of Cash Balances Form,see https:y/rad.dof.ca.gov/­rad- sal df Cash Balance Agency Tis Sheet. df. A B C O E F G H I Fund Sources Bond Proceeds Reserve Balance OYtter RPTTF Prior ROPS Prior RODS period balances RPTTF Bonds Issued on and DDR RPTTF distributed as Rent, Non-Admin or before Bonds Issued on balances reserve for future Grants, and Cash Balance Information b ROPS Period 1 12/31110 oraftei-01101MI retained pericd(s) Interest,Etc. Admin Comments RODS 14-15A Actuals J07101114-12131/14 1 Beginning Available Cash Balance(Actual 07101114) 10,424,954 587.311 323,108 2 Revenuellncome(Actual 12131114) RPTTF amounts should tie to the ROPS 14-15A distribution from the County Auditor-Controller during June 2014 7,398 49,533 2,145,644 3 Expenditures for RODS 14-15A Enforceable Obligations(Actual 12131114) RPTTF amounts,H3 plus H4 should equa$total reported actual expenditures in the Report of PPA,Columns L and O 5.870 750 587.391 4.533 2,182.302 4 Retention of Available Cash Balance(Actual 12131114) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 1.774.621 5 ROPS 14-15A RPTTF Prior Period Adjustment RPTTF amount should tie to the self-reported ROPS 14-15A PPA in the tto entry required Report of PPA,Column S 214.410 6 Ending Actual Available Cash Balance C to G=(1+2-3-4),H=(1+2-3-4-5) $ 2,fi8fi,981 $ $ $ $ 45,000 $ 73,040 ROPS.14-115B Estimate(01101115-06/30115 7 Beginning Available Cash Balance(Actual 01101115) (c;0,E,G=4+6,F=H4+F4+F6,and H-5+6) $ 4,461,602 $ $ $ $ 45,000 $ 267,450 8 Revenuefincome(Estimate 06130115) RPTTF amounts should tie to the RODS 14-15B distribution from the County Auditor-Controller during January 2015 1,500 2,408,904 9 Expenditures for ROPS 14-1513 Enforceable Obligations(Estimate 06130115) 1.200.000 45,000 2,4al,544 10 Retention of Available Cash Balance(Estimate 06130115) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 1.774,521 11 Ending Estimated Available Cash Balance(7+8-9-10) $ 1,488,481 $ $ $ $ $ 214,410 EXHIBIT A- Page 4 Mcoenced PMgallon Pavmerrt ScneuW YkPP$e5-e641-fiapon dY.w�>eew�4djwtme TT e�a� nmde:xaG.x ¢OPS to-i'�A so�resw,^MzrlsnfSNHeputetl P,w.aMoa narysNe,nslvea7:n�. ,5C9e� ,Sns s:, � +1!'.��riM h,.c.ecoa'.r�c-. .,.alr.alanle.�roy>a+n ea,ae,.4 zapq -3 -to-,"... R�CAc«Ha,ef[�s`AGa�aFM!oerlertl�pk� uMY�1�kR'S5�S i8 ol^Re nenemamM�„s�ev - �nr,.l. �., a:.. �;,_.e.....,.•s,t-co,e,ym,>,;r n�F.:-.Hera ,e a_�s_.r ..ter_.mar _...<.s._��� a.as��,,:�" - 1u4.x�as,. x;��.=e,e, ,--.aa�n.:.. s ..r_^=a.. x :,ry o, wuz>,nrcirz4Pfrl.e nma tq�are tamnan�ricio,xrea l�a.asl.c aiczueenam�ave�:�mns e;,¢erca >va..lu>rrxe� �wlwr<, kkYYF Rum RPTTF Ex ,Wnurex :. - - 3 I Waw .'eh feM �A nm ab4. M e, enua - s E I ! aa� { . t 3 , ' I =.>m.... .... E ... ._..._.__,..� _ 7L i 3 rn E T�y��osa..t....i ram. c,. ... r _...._ ..._..._,..��� ....._.... ............................_.... � 1 EXHIBIT A-Page 5 Recognized Obligation Payment Schedule (ROPS 16-16A) - Notes July 1,2015 through December 30, 2015 Item#_...... Notes/Comments --�. .. ..... - -. 1 'The total obligation outstanding includes all principal and interest expected to be outstanding at June 30,2015. - ... _ _. 2 IThe total obligation outstanding includes all principal and interest expected to be outstanding at June 30 2015. TT e total obligation outstanding includes all principal and interest expected to be outstanding at June 30, 2015. 4 The total obligation outstanding includes all principal and interest expected to be outstanding at June 30,2015. lyo set-aside reserve is necessary for the next RODS debt service-H&S Code Section 34171(b). The Successor Agency may need set-aside reserves for debt service 5 f payments in the future based on estimated net redevelopment property tax available. The total obligation outstanding is the amount expected to be outstanding as of lune 30, 2015. The agreement end date is upon complete payment of obligation. 6As instructed by DOF staff,an estimated date has been included. The total obligation outstanding is the amount expected to be outstanding as of June 30,2015. The agreement end date is upon complete payment of obligation. A7 As instructed by DOF staff, an estimated date has been included. IThe total obligation outstanding is the amount expected to be outstanding as of lune 30, 2015. The agreement end date is upon complete payment of obligation. 8 As instructed by DOF staff,an estimated date has been included. 9 The total obligation outstanding includes all principal and interest expected to be outstanding at June 30, 2015. 10 ',The total obligation outstanding includes all principal and interest expected to be outstanding at June 30, 2015. 11 Thetotal obligation outstanding includes all principal and interest expected to be outstanding at June 30, 2015. 12 The total obligation outstanding includes all principal and interest expected to be outstanding at June 30, 2015. Payments for FY 15-16 are interest only at 6.0%. .- ... .. 13 IThe total obligation outstanding includes all principal and interest expected to be outstanding at June.30,2015. Payments for FY 15-16 are interest only at 6.0%. The obligations in lines 12 and 13 have principal payments of$3,916,450.71.and $4,080,246.64,respectively which total$7,996,697 due on March 1,2021.The 'successor Agency is including an amount to be set-aside on each ROPS beginning with ROPS 15-16A, in order to meet these obligations on March 1, 2021. RPPTF projections show that if the Successor Agency does not set-aside RPTTF ahead of March 1,2021,there will not be sufficient RPTTF to meet these obligations when 14 due. This will result in a default on these enforceable obligations. On May 16,2014, DOF issued a final determination letter on BOPS 14-15A, indicating this Agreement was enetered within two years of creation of the Agency and that the City agreed to defer the fees under the Agreement until such time as the Agency determines it has sufficient funds to repay the loan. The final payment 15 ,amount of w$979,626 was approved and paid during this RODS period 14-15B. This obligation is complete. The City has received its Finding of Completion;this loan was approved by the Oversight Board pursuant to Health and Safety Code(HSC)Section 34191.4(b)on May 27, 2014, (Oversight Board Resolution 14-05-27-02);and DOF approved the loan and payment schedule on August 5,2014. The total obligation outstanding is the 16 e outstanding as of June 30, IThe City hareceived� 0 ts Finding of Completion; loan _..� . _ �. .. � .... .._.. � _.-.... ._.... -� ,amountexpected . - was approved by the Oversight Board pursuant to Health and Safety Code (HSC)Section 341.91.4(b)on May 27, 2014(Oversight Board Resolution 14-05-27-02); and DOF approved the loan and payment schedule on August 5, 2014_ The total obligation outstanding is the 17 !amount expected to be outstanding as of June 30, 2015. EXHIBIT A - Page 6 Recognized Obligation Payment Schedule (ROPS 15-16A) - Notes July 1, 2015 through December 30, 2015 ]tem# i Notes/Comments - - -- .. ........ ...... __ ._ —---------- The City has received its Finding of Completion;this loan was approved by the Oversight Board pursuant to Health and Safety Code(HSC)Section 34191.4(b)on May �27,2014(Oversight Board Resolutionl4-05-27-02); however DOE did not approve the loan. This City/Agency loan is requested to remain pending the resolution of 18 questions regarding the denial. The total obligation outstanding is the amount expected to be outstanding as of June 30,2015. Staff time and other administrative costs (estimated to be incurred for this ROPS period) provided pursuant to the Agreement for the Reimbursement of Costs approved by the Oversight Board on May 2,2012, (Resolution 12-05-02-01), The agreement continues until services are no longer needed.Therefore,the 28 termination date is unknown and has been listed as December 31, 2014, as instructed by the Department of Finance. .. .... ....... _... _ (Administrative costs(estimated)- Administrative costs to be funded from other sources, if available. These costs will continue until dissolution is completed. 29 [Therefore,the termination date is unknown and has been listed as December 31, 2015,as instructed by the Department of Finance. ---- - ------------- Property maintenance cost(estimated)-cost to maintain property prior to disposition- HSC Section 34171(b). These costs are expected to continue until all 31 E property is disposed of. Therefore,the termination date is unknown and has been listed asDecember 31, 2015, as instructed by the Department of Finance. Legal costs associated with property,assets, and enforceable obligations(estimated)- HSC Section 34171(b). The Agreement is valid until services are no longer 32 needed. Therefore,t .. _ _ _ _ 46 Duplicate of line 17 Please remove. - --- -- ................__. - 47 Duplicate of line 18. Please remove. — ............ --................ ---- - _ -:---------------- .................. All bond proceeds pursuant to the Bond Expenditure Agreement dated April 15, 2015;and approved by the Oversight Board on April 22,2014(Oversight Board 48 Resolution 14-04-22-01) have been transferred. This obligation is complete. - _ All bond proceeds pursuant to the Bond Expenditure Agreement dated April 15, 2015,and approved by the Oversight Board on April 22,2014(Oversight Board 49 Resolution 14-04-22-01) have been transferred. This obligation is complete. - _.. _._. ..............._._.. --- --- -. _-............. . ............ Bond proceeds transferred pursuant to the Housing Bonds Expenditure Agreement dated May 6,2014;and approved by the Oversight Board'on May 27, 2014 (Oversight Board Resolution 14-05-27-01). The DOE approved the Housing Bonds Expenditure Agreement on August 5,2014. The DOE approved a transfer of 1$4,000,000 and$1,200,000 of these funds to the City of San Juan Capistrano during ROPS 14-15A and 14-15B periods, respectively. The total obligation outstanding 50 1 is the estimated remaining bond proceeds as of June 30,2015 including accrued interest. EXHIBIT A- Page 7