Recognized Obligation Payment Schedule (ROPS 23-24) - Summary Filed for the July 1, 2023 through June 30, 2024 Period Successor Agency: Hercules
County: Contra Costa
Current Period Requested Funding for Enforceable
Obligations (ROPS Detail)
23-24A Total
(July -
December)
23-24B Total
(January -
June)
ROPS 23-24
Total
A Enforceable Obligations Funded as Follows (B+C+D) $ 1,800,584 $ - $ 1,800,584 B Bond Proceeds - - -
C Reserve Balance 1,800,584 - 1,800,584
D Other Funds - - -
E Redevelopment Property Tax Trust Fund (RPTTF) (F+G) $ 3,884,933 $ 3,257,685 $ 7,142,618 F RPTTF 3,509,933 3,132,685 6,642,618
G Administrative RPTTF 375,000 125,000 500,000
H Current Period Enforceable Obligations (A+E) $ 5,685,517 $ 3,257,685 $ 8,943,202 Certification of Oversight Board Chairman:
Name Title
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. /s/
Signature Date
Hercules
Recognized Obligation Payment Schedule (ROPS 23-24) - ROPS Detail July 1, 2023 through June 30, 2024
A B C D E F G H I J K M O P Q U V W
Item
# Project Name Obligation
Type
Agreement
Execution
Date
Agreement
Termination
Date
Payee Description Project
Area
Total
Outstanding
Obligation
Retired
ROPS
23-24
Total
ROPS 23-24A (Jul - Dec)
23-24A
Total
ROPS 23-24B (Jan -
Jun)
23-24B
Total Fund Sources Fund Sources
Reserve
Balance RPTTF Admin
RPTTF RPTTF Admin
RPTTF
$238,234,253 $8,943,202 $1,800,584 $3,509,933 $375,000 $5,685,517 $3,132,685 $125,000 $3,257,685 1 2005 Tax Allocation
Bonds
Bonds Issued
On or Before
12/31/10
08/05/
2005
08/05/2036 Bank of
New York
Bonds issued to fund non-
housing projects
All - Y $- - - - $- - - $-
2 2007 Tax Allocation
Bonds
Bonds Issued
On or Before
12/31/10
12/20/
2007
12/20/2044 Bank of
New York
Bonds issued to fund non-
housing projects
All - Y $- - - - $- - - $-
3 2007 Tax Allocation
Bonds Housing(A)
Bonds Issued
On or Before
12/31/10
07/26/
2007
07/26/2034 Bank of
New York
Affordable Housing Bonds All - Y $- - - - $- - - $-
4 2007 Tax Allocation
Bonds Housing(B)
Bonds Issued
On or Before
12/31/10
07/26/
2007
07/26/2034 Bank of
New York
Affordable Housing Bonds All - Y $- - - - $- - - $-
5 Catellus/Hercules LLC OPA/DDA/
Construction
01/01/
2009
02/15/2044 Catellus Settlement Agreement All 57,037,578 N $4,547,832 - 3,297,832 - $3,297,832 1,250,000 - $1,250,000 10 OPA (Owner
Participation Agreement)
OPA/DDA/
Construction
11/15/
1996
11/15/2041 Hercules
Senior
Housing/
Bridge
OPA for Senior Housing All 2,470,000 N $260,000 - 195,000 - $195,000 65,000 - $65,000 16 Co-operation
Agreement: Loan
Repayment Agreement
for Cash Advances
Miscellaneous 02/09/
1983
12/31/2099 City of
Hercules
Hercules Resolution 83-18
dated 02/09/1983
All 50,496,029 N $- - - - $- - - $-
20 Bank and Trustee Fees Fees 08/01/
2005
12/31/2044 Various Bank and trustee fees for
Redevelopment bond and
bank accounts
All 120,000 N $- - - - $- - - $-
21 SERAF SERAF/ERAF 07/01/
2009
06/30/2011 State of
California
Pre-dissolution SERAF
deferrals
All 6,020,951 N $- - - - $- - - $-
22 Administrative Costs Admin Costs 07/01/
2023
06/30/2024 Various Administrative cost
allowance
All 5,750,000 N $500,000 - - 375,000 $375,000 - 125,000 $125,000 25 2005 Tax Allocation
Bonds
Reserves 08/05/
2005
08/05/2036 AMBAC
Surety
Bond
Bonds issued to fund non-
housing projects
All - Y $- - - - $- - - $-
26 2007 Tax Allocation
Bonds
Reserves 12/20/
2007
12/20/2044 AMBAC
Surety
Bond
Bonds issued to fund non-
housing projects
All - Y $- - - - $- - - $-
A B C D E F G H I J K M O P Q U V W
Item
# Project Name Obligation
Type
Agreement
Execution
Date
Agreement
Termination
Date
Payee Description Project
Area
Total
Outstanding
Obligation
Retired
ROPS
23-24
Total
ROPS 23-24A (Jul - Dec)
23-24A
Total
ROPS 23-24B (Jan -
Jun)
23-24B
Total Fund Sources Fund Sources
Reserve
Balance RPTTF Admin
RPTTF RPTTF Admin
RPTTF
31 Debt Service Reserve Reserves 08/05/
2005
12/20/2044 Bank of
New York
Retain reserve as required
by indenture for 2005 and
2007 bonds (ROPS Items
1-4)
All - Y $- - - - $- - - $-
32 2022 Tax Allocation
Refunding Bond
Refunding
Bonds Issued
After 6/27/12
08/01/
2022
02/01/2043 Bank of
New York
2022 refinancing of 2005
and 2007 bonds
All 116,339,695 N $3,635,370 1,800,584 17,101 - $1,817,685 1,817,685 - $1,817,685 Hercules
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.
A B C D E F G H
ROPS 20-21 Cash Balances
(07/01/20 - 06/30/21)
Fund Sources
Comments
Bond Proceeds 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 (Actual 07/01/20)
RPTTF amount should exclude "A" period distribution
amount.
8,935,907 49,094 - C: Bond Reserve Account
2 Revenue/Income (Actual 06/30/21)
RPTTF amount should tie to the ROPS 20-21 total
distribution from the County Auditor-Controller
1,283 11,516,197
3 Expenditures for ROPS 20-21 Enforceable Obligations
(Actual 06/30/21)
272,720 11,453,766 C: 2007 Housing Bond Series A 2/1/21 payment made from Reserve Account.
RPTTF transferred to trustee for 2/1/21
payment retained by trustee and applied to 8/
2/21 debt service payment
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)
8,664,470
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
No entry required 62,431
6 Ending Actual Available Cash Balance (06/30/21) $- $- $- $49,094 $- 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.
A B C D E F G H
ROPS 20-21 Cash Balances
(07/01/20 - 06/30/21)
Fund Sources
Comments
Bond Proceeds 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
C to F = (1 + 2 - 3 - 4), G = (1 + 2 - 3 - 4 - 5)
Hercules
Recognized Obligation Payment Schedule (ROPS 23-24) - Notes July 1, 2023 through June 30, 2024
Item # Notes/Comments
1 2
3 4
5 A period includes $2,159,319 unpaid under ROPS 22-23 Item 5 due to RPTTF shortfall 10 A period includes $130,000 unpaid under ROPS 22-23 Item 10 due to RPTTF shortfall 16 20 23-24 fees paid from 2022 bond refunding cost of issuance 21 22 A period includes $250,000 unpaid under ROPS 22-23 Item 22 due to RPTTF shortfall 25 26
31 32 23-24A period Reserve Balance funded by RPTTF retained from ROPS 22-23 Items 1-4 (refunded bonds)