Successor Agency: Corona
County: Riverside
Current Period Requested Funding for Enforceable Obligations (ROPS Detail) 23-24A Total
(July - December)
23-24B Total
(January - June) ROPS 23-24 Total
A $ 2,575,448 $ 846,112 $ 3,421,560
B - - -
C 2,575,448 846,112 3,421,560
D - - -
E $ 3,938,112 $ 3,732,712 $ 7,670,824
F 3,863,112 3,657,712 7,520,824
G 75,000 75,000 150,000
H Current Period Enforceable Obligations (A+E): $ 6,513,560 $ 4,578,824 $ 11,092,384 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 23-24) - Summary Filed for the July 1, 2023 through June 30, 2024 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
$ 52,515,247 $ 11,092,384 $ 0 $ 2,575,448 $ 0 $ 3,863,112 $ 75,000 $ 6,513,560 $ 0 $ 846,112 $ 0 $ 3,657,712 $ 75,000 $ 4,578,824 2 2007 Tax
Allocation
BondsMerged
Dwntwn
Bonds
Issued On or
Before
12/31/10
11/1/2007 9/1/2027 Bank of New
York
Bond issue to fund
projects according
to the
Redevelopment
Plan.
Merged
Project
Areas
24,649,146 N $ 7,049,259 1,429,475 2,499,928 $ 3,929,403 619,928 2,499,928 $ 3,119,856 3 2007 Tax
Allocation
BondsTemescal Cyn
Bonds
Issued On or
Before
12/31/10
1/1/2007 11/1/2032 Bank of New
York
Bond issue to fund
projects according
to the
Redevelopment
Plan.
Merged
Project
Areas
13,670,472 N $ 2,764,525 1,145,973 696,184 $ 1,842,157 226,184 696,184 $ 922,368 5 Fiscal Agent
Fees
Fees 7/1/2023 6/30/2024 Bank of New
York
Fees in
association with
TAB accounts
Merged
Project
Areas
6,200 N $ 6,200 $ - 6,200 $ 6,200
6 Continuing
Disclosure
Fees
Fees 7/1/2023 6/30/2024 Willdan
Financial
Services
Continuing
Disclosure FeesTABs
Merged
Project
Areas
4,500 N $ 4,500 $ - 4,500 $ 4,500
7 Consultant
Fees
Fees 7/1/2023 6/30/2024 Willdan
Financial
Services
Arbitrage
Calculations
Merged
Project
Areas
900 N $ 900 $ - 900 $ 900
8 Skypark OPA OPA/DDA/C
onstruction
10/20/2010 11/7/2037 Rexco LLC Tax Increment
Reimbursement
Merged
Project
Areas
1,456,943 N $ 87,000 87,000 $ 87,000 $ -
13 Corona N Main
Development
OPA
OPA/DDA/C
onstruction
1/18/2011 7/18/2032 Corona North
Main
Development,
LP
Tax Increment
Reimbursement
Merged
Project
Areas
6,599,336 N $ 580,000 580,000 $ 580,000 $ -
23 Affordable
Housing
Agreement
OPA/DDA/C
onstruction
4/1/2006 4/1/2061 KDF Corona,
LP (Wells
Fargo Bank)
Affordable
Housing Project
Merged
Project
Areas
900,000 N $ 450,000 $ - 450,000 $ 450,000
57 Administration
Allowance
Admin Costs 7/1/2023 6/30/2024 Various Agency staff,
office supplies,
postage, phones,
equipment
maintenance,
legal (OB/SA),
auditors, cost
allocation, etc.
Merged
Project
Areas
150,000 N $ 150,000 75,000 $ 75,000 75,000 $ 75,000
62 $ - $ - $ -
23-24B (January - June)
19-20A
Total
Corona Recognized Obligation Payment Schedule (ROPS 23-24) - ROPS Detail July 1, 2023 through June 30, 2024
(Report Amounts in Whole Dollars)
Item
# Payee
Description/Project
Scope Project Area
Total
Outstanding
Debt or
Obligation Retired
23-24A (July - December)
19-20B
Total
Project
Name/Debt
Obligation
Obligation
Type
Contract/Ag
reement
Execution
Date
Fund Sources Fund Sources
Contract/Agre
ement
Termination
Date
ROPS 19-20
Total
A B C D E F G H
Reserve Balance Other Funds RPTTF
Bonds issued on or
before 12/31/10
Bonds issued on or
after 01/01/11
Prior ROPS RPTTF
and Reserve
Balances retained
for future period(s)
Rent,
Grants,
Interest, etc.
Non-Admin
and
Admin
1 Beginning Available Cash Balance as of 07/01/20
RPTTF amount should exclude "A" period distribution amount 62,513 1,739,081 5,281,868 16,891 165,213
RPTTF Beginning Balance of $165,213=
$162,009 unspent funds in the ROPS 17-18
period and $3,204 Retention Held from a prior
year's expense.
2 Revenue/Income
RPTTF amount should tie to the ROPS 20-21 total distribution from the County Auditor-Controller
919 1,461 11,428,883
Revenue in bond proceeds generated from
interest income. Will be applied to next bond
payment.
3 Expenditures for ROPS 20-21 Enforceable Obligations
4,652,589 6,616,690
4 Retention of Available Cash Balance (Actual 06/30/21) RPTTF amount retained should only include the amounts distributed as reserve for future period(s)
6,636,714 RPTTF wired to Fiscal Agent for 2021 Bond Year 5 ROPS 20-21 RPTTF Prior Period Adjustment
RPTTF amount should tie to the Agency's ROPS 20-21 PPA form submitted to the CAC
301,589
Moved $301,589 of unspent funds in the ROPS
20-21 period to RPTTF Reserve Balance ending
cash balance to be allocated to ROPS 23-24
obligations
6 Ending Actual Available Cash Balance (06/30/20)
C to F = (1 + 2 - 3 - 4), G = (1 + 2 - 3 - 4 - 5)
$ 63,432 1,740,542 $ $ (1,334,822) $ 3,204 16,891 $
Ending Reserve Balance should be $5,603,481
($6,636,714 + $301,589 -$1,334,822); Total
Ending Cash Balance= $7,424,356
No entry required
Corona Recognized Obligation Payment Schedule (ROPS 23-24) - Report of Cash Balances July 1, 2020 through June 30, 2021
(Report Amounts in Whole Dollars)
Pursuant to Health and Safety Code section 34177 (l), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obligation. For tips on how to complete the Report of Cash Balances Form, see Cash Balance Tips Sheet.
Fund Sources
Comments
Bond Proceeds
ROPS 20-21 Cash Balances
(07/01/20 - 06/30/21)
Item # Notes/Comments
2 Reserve Balance: Bond principal/interest payments funded by RPTTF received from ROPS 22-23 will be applied to Fall 2023 payment (22-23A period); Bond interest payments funded by RPTTF received from ROPS 23-24A will be applied to Spring 2024 payment (23-24B period); RPTTF Non-Admin: Funds will be sent to Fiscal Agent in February 2024 and reserved for 2024 Bond year payments (23-24B and 24-25A). 3 Reserve Balance: Bond principal/interest payments funded by RPTTF received from ROPS 23-24 will be applied to Fall 2023 payment (23-24A period); Bond interest payments funded by RPTTF received from ROPS 23-24A will be applied to Spring 2024 payment (23-24B period); RPTTF Non-Admin: Funds will be sent to Fiscal Agent in February 2024 and reserved for 2024 Bond year payments (23-24B and 24-25A). 5 Estimated expense based on historical annual expenses 6 Estimated expense based on historical annual expenses 7 Estimated expense based on historical annual expenses 8 Estimated expense- Payment amount dependent on assessed values of project 13 Outstanding obligation includes interest accrued through 6/30/2023. Estimated expense- Payment amount dependent on assessed values of project; 23 Annual pledge per OPA agreement
57 Requesting less than the minimum $250K due to reduced admin expenses.
Corona Recognized Obligation Payment Schedule (ROPS 23-24) - Notes July 1, 2023 through June 30, 2024