Successor Agency: Corona
County: RiversideCurrent Period Requested Funding for Enforceable Obligations (ROPS Detail) 24-25A Total
(July - December)
24-25B Total
(January - June) ROPS 24-25 Total
A $ 5,546,113 $ 707,872 $ 6,253,985B - - -
C 5,546,113 707,872 6,253,985 D - - -
E $ 4,336,628 $ 3,817,472 $ 8,154,100
F 4,249,128 3,729,972 7,979,100
G 87,500 87,500 175,000
H Current Period Enforceable Obligations (A+E): $ 9,882,741 $ 4,525,344 $ 14,408,085 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 24-25) - Summary Filed for the July 1, 2024 through June 30, 2025 Period Enforceable Obligations Funded as Follows (B+C+D):
RPTTF
Redevelopment Property Tax Trust Fund (RPTTF) (F+G):
Bond ProceedsReserve BalanceOther Funds
AB C D E F G H I J K L M N O P Q R STU V W
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF
Admin
RPTTF
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF
Admin
RPTTF
$ 48,430,140 $ 14,408,085 $ 0 $ 5,546,113 $ 0 $ 4,249,128 $ 87,500 $ 9,882,741 $ 0 $ 707,872 $ 0 $ 3,729,972 $ 87,500 $ 4,525,344 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
22,599,743 N $ 10,031,987 4,379,928 2,574,853 $ 6,954,781 502,353 2,574,853 $ 3,077,206 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
12,298,316 N $ 2,757,742 1,166,185 693,019 $ 1,859,204 205,519 693,019 $ 898,538 5 Fiscal Agent
Fees
Fees 7/1/2024 6/30/2025 Bank of New
York
Fees in association with TAB accounts
Merged Project Areas
N $ 6,200 6,200 $ - 6,200 $ 6,200
6 Continuing
Disclosure Fees
Fees 7/1/2024 6/30/2025 Willdan
Financial Services
Continuing Disclosure FeesTABs
Merged Project Areas
N $ 5,000 5,000 $ - 5,000 $ 5,000
7 Consultant
Fees
Fees 7/1/2024 6/30/2025 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
1,369,943 N $ 401,256 401,256 $ 401,256 $ -
13 Corona N Main
Development OPA
OPA/DDA/Construction
1/18/2011 7/18/2032 Corona North
Main Development, LP
Tax Increment Reimbursement
Merged Project Areas
6,447,288 N $ 580,000 580,000 $ 580,000 $ -
23 Affordable
Housing Agreement
OPA/DDA/Construction
4/1/2006 4/1/2061 KDF Corona,
LP (Wells Fargo Bank)
Affordable Housing Project
Merged Project Areas
450,000 N $ 450,000 $ - 450,000 $ 450,000
57 Administration
Allowance
Admin Costs 7/1/2024 6/30/2025 Various Agency staff, office supplies, postage, phones, equipment maintenance, legal (OB/SA), auditors, cost allocation, etc.
Merged Project Areas
175,000 N $ 175,000 87,500 $ 87,500 87,500 $ 87,500
24-2
5B (January - June)
24-25A
Total
Corona Recognized Obligation Payment Schedule (ROPS 24-25) - ROPS Detail July 1, 2024 through June 30, 2025
(Report Amounts in Whole Dollars)
Item
# Payee
Description/Project
Scope Project Area
Total
Outstanding
Debt or
Obligation Retired
24-2
5A (July - December)
24-25BTotal
Project
Name/Debt
Obligation
Obligation
Type
Contract/Ag
reement
Execution
Date
Fund Sources Fund Sources
Contract/Agre
ement
Termination
Date
ROPS 24-25
Total
AB 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 07/01/21
RPTTF amount should exclude "A" period distribution amount 1,740,542 63,432 6,234,655 16,891 405,263
RPTTF Beginning Balance of $405,263= $402,059 unspent funds in the ROPS 18-19 period and $3,204 Retention Held from a prior year's expense. 2 Revenue/Income
RPTTF amount should tie to the ROPS 21-22 total distribution from the County Auditor-Controller (17,559) 24,050 10,192,795
Revenue in bond proceeds generated from interest income, there's a reallocation of interest from bond proceeds in 21-22. Will be applied to next bond payment. 3 Expenditures for ROPS 21-22 Enforceable Obligations
6,580,182 4,423,228
4 Retention of Available Cash Balance (Actual 06/30/22) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 6,053,034 RPTTF wired to Fiscal Agent for 2022 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 118,592
Moved $118,592 of unspent funds in the ROPS 21-22 period to RPTTF Reserve Balance ending cash balance to be allocated to ROPS 24-25 obligations 6 Ending Actual Available Cash Balance (06/30/22)
C to F = (1 + 2 - 3 - 4), G = (1 + 2 - 3 - 4 - 5)
$ 1,722,983 $ 87,482 $ (345,527) $ 16,891 $ 3,204
Ending Reserve Balance should be $5,826,099 ($6,053,034 + $118,592 -$345,527); Total Ending Cash Balance= $6,218,525 No entry required
Corona Recognized Obligation Payment Schedule (ROPS 24-25) - Report of Cash Balances July 1, 2021 through June 30, 2022
(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 21-22 Cash Balances
(07/01/21 - 06/30/22)
Item # Notes/Comments
2 Reserve Balance: Bond principal/interest payments funded by RPTTF received from ROPS 23-24 will be applied to Fall 2024 payment (23-24A period); Bond interest payments funded by RPTTF received from ROPS 24-25A will be applied to Spring 2025 payment (24-25B period); RPTTF Non-Admin: Funds will be sent to Fiscal Agent in February 2025 and reserved for 2025 Bond year payments (24-245 and 25-26A).
Reserve Balance: Bond principal/interest payments funded by RPTTF received from ROPS 24-25 will be applied to Fall 3 2024 payment (24-25A period); Bond interest payments funded by RPTTF received from ROPS 24-25A will be applied to Spring 2025 payment (24-25B period); RPTTF Non-Admin: Funds will be sent to Fiscal Agent in February 2025 and reserved for 2025 Bond year payments (24-25B and 25-26A).
Estimated expense based on historical annual expenses 5 6 Estimated expense based on historical annual expenses7 Estimated expense based on historical annual expenses8 Estimated expense- Payment amount dependent on assessed values of project 13 Outstanding obligation includes interest accrued through 6/30/2024. Estimated expense- Payment amount dependent on assessed values of project; 23 Annual pledge per OPA agreement57 Requesting less than the minimum $250K due to reduced admin expenses.
Corona Recognized Obligation Payment Schedule (ROPS 24-25) - Notes July 1, 2024 through June 30, 2025