APPROVED AS TO FORM AND LEGALITY
ORSA COUNSEL
OAKLAND REDEVELOPMENT
SUCCESSOR AGENCY
RESOLUTION NO. C.M.S.
RESOLUTION APPROVING THE SUBMISSION OF A RECOGNIZED
OBLIGATION PAYMENT SCHEDULE AND OAKLAND
REDEVELOPMENT SUCCESSOR AGENCY ADMINISTRATIVE
BUDGET FOR JULY 1, 2023 THROUGH JUNE 30, 2024, AND
TRANSMISSION OF BOTH TO THE COUNTYWIDE OVERSIGHT
BOARD, THE ALAMEDA COUNTY AUDITOR- CONTROLLER AND
THE STATE DEPARTMENT OF FINANCE FOR APPROVAL
WHEREAS, California Health and Safety Code Section 34177(o), as amended, requires a successor agency to prepare a Recognized Obligation Payment Schedule (“ROPS”) listing the former redevelopment agency’s recognized enforceable obligations, payment sources, the successor agency’s excess bond proceeds obligations, and related information for each fiscal year period; and
WHEREAS, California Health and Safety Code Section 34177(l), as amended, requires that a ROPS be submitted to and approved by the oversight board, and submitted to the County Administrator, the County Auditor-Controller, the State Controller, and the California Department of Finance; and
WHEREAS, California Health and Safety Code Section 34177(j) requires a successor agency to prepare a proposed administrative budget for submission to the oversight board for approval; and
WHEREAS, California Health and Safety Code Section 34177 (m)(1)(A) provides that the successor agency shall complete the ROPS in the manner provided for by the Department of Finance; and
WHEREAS, the Oakland Redevelopment Successor Agency (“ORSA”) has prepared a ROPS for July 1, 2023 through June 30, 2024, otherwise referred to as “FY 23-24 ROPS”; and
WHEREAS, the ORSA Board wishes to submit the FY 23- 24 ROPS to the Alameda County Administrator, Alameda County Auditor -Controller, Countywide Oversight Board, Stat e Controller, and the Department of Finance for review and approval, as required; and
2 WHEREAS, the FY 23-24 ROPS , when approved, will be operative on July 1, 2023, and will govern payments by ORSA after this date; and
WHEREAS, ORSA has prepared a proposed administrative budget for July 1, 2023 through June 30, 2024 and wishes to submit said administrative budget to the Countywide Oversight Board for approval; now, therefore, be it
RESOLVED: That the ORSA Board hereby approves that ROPS for July 1, 2023 through June 30, 2024, attached to this Resolution as Exhibit A, and authorizes staff to submit the FY 23- 24 ROPS to the Countywide Oversight Board, Alameda County Administrator, Alameda County Auditor-Controller, State Controller, a nd California Department of Finance for review and approval as required per State dissolution laws; and be it
FURTHER RESOLVED: That the approved FY 23-24 ROPS shall substantially govern payments by ORSA during the FY 23-24 ROPS period; and be it
FURTHER RESOLVED: That the approval and submission of the FY 23-24 ROPS does not constitute preapproval of any project, contract, or contractor by the City; and be it
FURTHER RESOLVED: That the ORSA Board hereby approves that administrative budget for July 1, 2023 through June 30, 2024, attached to this Resolution as Exhibit B, for submission to the Countywide Oversight Board for approval as required per State dissolution laws; and be it
FURTHER RESOLVED: That the approved FY 2023- 2024 ROPS and administrative budget approved by the Alameda County Oversight Board and the State Department of Finance, together shall constitute the annual budget of ORSA; and be it
FURTHER RESOLVED : That the ORSA Board hereby authorizes the ORSA Administrator or designee to appropriate funds or amend budget amounts as necessary for conformance with the final approved ROPS; and be it
FURTHER RESOLVED : That the ORSA Board hereby authorizes the ORSA Administrator or designee to expend, in accordance with the laws of the State of California and the City of Oakland on behalf of ORSA, appropriations for projects and activities as incorporated in the approved ROPS and administrative budget; and be it
FURTHER RESOLVED : That the ORSA Board hereby authorizes the ORSA Administrator or designee to transfer funds between operating funds, debt funds and capital funds to correct deficits in any of the funds as permitted by law; and to close inactive funds and transfer residual balances from these inactive funds to other active funds consistent with the approved FY 23-24 ROPS and administrative budget; and be it
FURTHER RESOLVED: That the ORSA Administrator or designee is authorized to reimburse or otherwise make payments to the City of Oakland for all costs incurred, services rendered, and payments made by the C ity pursuant to the approved FY 23- 24 ROPS and administrative budget; and be it
3 FURTHER RESOLVED: That the ORSA Administrator or designee may transfer operating appropriations within the administrative budget between activity programs or expenditure accounts during the designated period provided that such funds remain within the total administrative budget authorized; and be it
FURTHER RESOLVED: That the ORSA Administrator or designee is authorized to revise the FY 23 -24 ROPS to conform to the ROPS format prescribed by the Department of Finance when available; and be it
FURTHER RESOLVED: That the ORSA Administrator is authorized to revise the submitted FY 23-24 ROPS and/or administrative budget based on changes required as part of the County and State Department of Finance review and approval process or new information, adjust payment amounts listed on the FY 23- 24 ROPS to reflect actual expenses incurred, and take any other action with respect to the FY 23-24 ROPS and the administrative budget consistent with this Resolution and its basic purposes; and be it
FURTHER RESOLVED: That the ORSA Board has determined that the actions authorized under this Resolution are not subject to the California Environmental Quality Act (“CEQA”), pursuant to CEQA Guidelines Section 15060.
BY SUCCESSOR AGENCY, OAKLAND, CALIFORNIA,
PASSED BY THE FOLLOWING VOTE:
AYES - FIFE, GALLO, KALB, KAPLAN, REID, TAYLOR, THAO AND
PRESIDENT FORTUNATO BAS
NOES –
ABSENT –
ABSTENTION –
ATTEST:
ASHA REED
Secretary of the Oakland Redevelopment
Successor Agency
3220929v1 – DR - updated 11/1/2022
4 EXHIBIT A
FY 23-24 ROPS
(attached)
Exhibit A
Recognized Obligation Payment Schedule (ROPS 23-24) - Summary Filed for the July 1, 2023 through June 30, 2024 Period
Successor Agency: Oakland
County: Alameda
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):
$ 18,576,233
$ -
$ 18,576,233
B Bond Proceeds 6,092,024 - 6,092,024
C Reserve Balance 10,674,209 - 10,674,209
D Other Funds 1,810,000 - 1,810,000
E Redevelopment Property Tax Trust Fund (RPTTF) (F+G): $ 10,409,525 $ 16,345,134 $ 26,754,659 F RPTTF 10,143,060 16,078,669 26,221,729
G Administrative RPTTF 266,465 266,465 532,930
H Current Period Enforceable Obligations (A+E): $ 28,985,758 $ 16,345,134 $ 45,330,892
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.
Barbara Halliday Chairperson
Name Title
/s/
Signature Date
Oakland Recognized Obligation Payment Schedule (ROPS 23-24) - ROPS Detail July 1, 2023 through June 30, 2024
(Report Amounts in Whole Dollars)
Item #
Project Name/Debt Obligation
Obligation Type
Contract/Agreement
Execution Date
Contract/Agreement
Termination Date
Payee
Description/Project Scope
Project Area
Total
Outstanding
Debt or
Obligation
Retired
ROPS 23-24
Total
23-24A (July - December)
23-24A
Total
23-24B (January - June)
22-23B
Total
Fund Sources Fund Sources
Bond Proceeds
Reserve Balance
Other Funds
RPTTF
Admin RPTTF
Bond Proceeds
Reserve Balance
Other Funds
RPTTF
Admin RPTTF
All $ 333,230,074 $ 45,330,892 $ 6,092,024 $ 10,674,209 $ 1,810,000 $ 10,143,060 $ 266,465 $ 28,985,758 $ - $ - $ - $ 16,078,669 $ 266,465 $ 16,345,134 5 Property Management, Maintenance, &
Insurance Costs (9708)
Property Maintenance 1/1/2014 6/30/2035 Various - staff, consultants, cleanup
contractor, monitoring
Staffing, consultants,
maintenance contractor,
monitoring, insurance costs
Agency-wide 25,000 N $ 25,000 25,000 $ 25,000 $ - 6 Administrative Cost Allowance (9708) Admin Costs 1/1/2014 6/30/2035 City of Oakland, As Successor
Agency
Administrative staff costs,
and operating &
maintenance costs
Agency-wide 15,250,860 N $ 532,930 266,465 $ 266,465 266,465 $ 266,465 14 B/M/SP
Project & Other Staff/Operations, Successor
Agency (9730)
Project Management Costs 1/1/2014 6/30/2026 City of Oakland, As Successor
Agency
Aggregated project staff,
other personnel costs and
operating/maintenance costs
for successor agency
enforceable obligations in B-
M-SP Oakland area, per
labor MOUs (P187510)
B-M-SP 402,323 N $ 29,456 14,728 $ 14,728 14,728 $ 14,728 17 B/M/SP 2006C T Bonds Debt Service (9838) Bonds Issued On or Before 12/31/10
10/12/2006 9/1/2032 Wilmington Trust N.A Taxable Tax Allocation Bonds Debt Service
B-M-SP 8,140,296 N $ 1,653,808 738,365 $ 738,365 915,443 $ 915,443 18 B/M/SP 2010 RZEDB Bonds Debt Service
(9839)
Bonds Issued On or Before
12/31/10
11/12/2010 9/1/2040 Bank of New York Federally Subsidized Taxable TABs Debt Service
B-M-SP 13,980,175 N $ 888,895 319,645 $ 319,645 569,250 $ 569,250 20 B/M/SP 2006C T Bonds Covenants Bonds Issued On or Before 12/31/10
10/1/2006 10/12/2036 Ambac Assurance
Corporation
To fulfill legal obligations of
tax allocation bond
covenants and reserve
requirement - Surety Bond
B-M-SP 1,283,000 N $ - $ - $ -
23 B/M/SP 2006C T Bonds Administration;
Bank & Bond Payments (9730)
Fees 10/1/2006 9/1/2032 Various Audit, rebate analysis, disclosure consulting, trustee
services, bank & bond, etc.
B-M-SP 60,000 N $ 6,000 6,000 $ 6,000 $ -
24 B/M/SP 2010 RZEDB Bonds Administration;
Bank & Bond Payments (9730)
Fees 10/1/2010 9/1/2040 Various Audit, rebate analysis, disclosure consulting, trustee
services, bank & bond, etc.
B-M-SP 108,000 N $ 6,000 6,000 $ 6,000 $ -
54 Central District project & other staff/operations,
successor agency (9710)
Project Management Costs 1/1/2014 6/30/2030 City of Oakland, As Successor
Agency
Aggregated project staff,
other personnel costs and
operating/maintenance costs
for successor agency
enforceable obligations in CD
Oakland area, per labor
MOUs.
Central
District
1,623,357 N $ 550,840 275,420 $ 275,420 275,420 $ 275,420 60 Yoshi's/JackLondonSquare/Security Deposit
(9714)
Miscellaneous 12/18/1994 5/4/2041 Yoshi's Owner Participation Agreement/Sublease with
Restaurant/Jazz Club
(Project 1000939 - Award
20969)
Central
District
13,500 N $ 13,500 13,500 $ 13,500 $ -
61 Regal Cinemas/Jack London Square/Security
Deposit (9714)
Miscellaneous 4/11/1995 4/10/2041 Regal Cinemas Owner Participation Agreement/Sublease with
Movie Theater
(Project 1000939 - Award
20969)
Central
District
25,000 N $ 25,000 25,000 $ 25,000 $ -
Oakland Recognized Obligation Payment Schedule (ROPS 23-24) - ROPS Detail July 1, 2023 through June 30, 2024
(Report Amounts in Whole Dollars)
Item #
Project Name/Debt Obligation
Obligation Type
Contract/Agreement
Execution Date
Contract/Agreement
Termination Date
Payee
Description/Project Scope
Project Area
Total
Outstanding
Debt or
Obligation
Retired
ROPS 23-24
Total
23-24A (July - December)
23-24A
Total
23-24B (January - June)
22-23B
Total
Fund Sources Fund Sources
Bond Proceeds
Reserve Balance
Other Funds
RPTTF
Admin RPTTF
Bond Proceeds
Reserve Balance
Other Funds
RPTTF
Admin RPTTF
All $ 333,230,074 $ 45,330,892 $ 6,092,024 $ 10,674,209 $ 1,810,000 $ 10,143,060 $ 266,465 $ 28,985,758 $ - $ - $ - $ 16,078,669 $ 266,465 $ 16,345,134 74 Central District Bonds (9710) Administration;
Bank & Bond Payments
Fees 1/1/2014 9/1/2023 Various Audit, rebate analysis,
disclosure consulting, trustee
services, bank & bond, etc.
Central
District
6,000 N $ 6,000 6,000 $ 6,000 $ -
75 Uptown - Prop IC (9731) Improvement/Infrastructure 2/23/2011 6/1/2024 City of Oakland; Various
Grant funds, ACTIA Match,
Streetscapes (Q3914xx)
Central
District
1,550,000 N $ 1,550,000 1,550,000 $ 1,550,000
84 Franklin 88 DDA (9711) OPA/DDA/Construction 10/18/2004 6/12/2041 Arioso HOA As-needed responses to inquiries from current
property owners and related
parties, or enforcement of
post-construction obligations
Central
District
61,107 N $ 60,000 60,000 $ 60,000 $ -
90 Swans DDA OPA/DDA/Construction 7/11/1997 9/1/2041 East Bay Asian Local Development
Corporation
(EBALDC)
As-needed responses to
inquiries from current
property owners and related
parties, or enforcement of
post-construction obligations
Central
District
- N $ - $ - $ -
92 UCOP Administration Building OPA/DDA/Construction 11/25/1996 9/1/2041 Oakland Development LLC
As-needed responses to
inquiries from current
property owners and related
parties, or enforcement of
post-construction obligations
Central
District
- N $ - $ - $ -
93 Uptown LDDA OPA/DDA/Construction 10/24/2005 10/23/2071 Uptown Housing Partners
As-needed responses to
inquiries from current
property owners and related
parties, or enforcement of
post-construction obligations.
Lease can be extended for
another 33 years to 2104.
Central
District
- N $ - $ - $ -
94 Uptown LDDA Admin Fee (9710) Fees 10/24/2005 10/26/2045 City of Oakland Annual administrative fee paid by developer to support
staff costs associated with
bond issuance
Central
District
2,100,000 N $ 200,000 200,000 $ 200,000 $ -
96 Victorian Row DDA OPA/DDA/Construction 7/1/2003 9/1/2041 PSAI Old Oakland Associates LLC
As-needed responses to
inquiries from current
property owners and related
parties, or enforcement of
post-construction obligations
Central
District
- N $ - $ - $ -
97 Fox Theatre OPA/DDA/Construction 8/30/2005 9/6/2066 Fox Oakland Theater, Inc.
DDA obligation for investor
buyout, management of
entities create for the benefit
of the Redevelopment
Agency
Central
District
- N $ - $ - $ -
105 Downtown Capital Project Support Miscellaneous 3/1/2009 6/1/2041 Downtown Oakland CBD
BID Assessments on Agency
Property
Central
District
5,000 N $ 5,000 5,000 $ 5,000 $ -
200 2006 Taxable Bond Debt Service
Series 2006A-T Central City East
Bonds Issued On or Before
12/31/10
10/12/2006 9/1/2034 Wilmington Trust N.A 2006 Taxable Bond Debt Service
Central City
East
48,397,092 N $ 7,926,626 3,462,612 $ 3,462,612 4,464,014 $ 4,464,014 Oakland Recognized Obligation Payment Schedule (ROPS 23-24) - ROPS Detail July 1, 2023 through June 30, 2024
(Report Amounts in Whole Dollars)
Item #
Project Name/Debt Obligation
Obligation Type
Contract/Agreement
Execution Date
Contract/Agreement
Termination Date
Payee
Description/Project Scope
Project Area
Total
Outstanding
Debt or
Obligation
Retired
ROPS 23-24
Total
23-24A (July - December)
23-24A
Total
23-24B (January - June)
22-23B
Total
Fund Sources Fund Sources
Bond Proceeds
Reserve Balance
Other Funds
RPTTF
Admin RPTTF
Bond Proceeds
Reserve Balance
Other Funds
RPTTF
Admin RPTTF
All $ 333,230,074 $ 45,330,892 $ 6,092,024 $ 10,674,209 $ 1,810,000 $ 10,143,060 $ 266,465 $ 28,985,758 $ - $ - $ - $ 16,078,669 $ 266,465 $ 16,345,134 202 CCE 2006 Taxable Bond Covenant Bonds Issued On or Before 12/31/10
10/1/2006 9/1/2036 Ambac Assurance
Corporation
To fulfill legal obligations of
tax allocation bond
covenants and reserve
requirement - Surety Bond
Central City
East
5,841,000 N $ - $ - $ -
204 CCE 2006 Taxable Bond Administration;
Bank & Bond Payments (9740)
Fees 10/1/2006 9/1/2034 Various 2006 Taxable bond Audit, rebate analysis, disclosure
consulting, trustee services,
bank & bond payments, etc.
Central City
East
72,000 N $ 6,000 2,500 3,500 $ 6,000 $ -
246 Coliseum Taxable Bond Debt Service (9856) Bonds Issued On or Before 12/31/10
10/12/2006 9/1/2035 Wilmington Trust N.A 2006 Coliseum Taxable Bond Debt Service
Coliseum 67,382,539 N $ 8,830,391 3,758,498 $ 3,758,498 5,071,893 $ 5,071,893 250 Coliseum Taxable Bond Administration (9750) Fees 10/1/2006 9/1/2035 Various 2006 Taxable bond Audit, rebate analysis, disclosure
consulting, trustee services,
etc.
Coliseum 78,000 N $ 6,000 6,000 $ 6,000 $ -
383 Development of low and moderate income
housing to meet replacement housing and
inclusionary/area production requirements
pursuant to Section 33413, to the extent required
by law
Legal 1/1/2014 6/30/2041 Various Site acquisition loans; Housing development loans;
etc.
Low-Mod - N $ - $ - $ -
389 HOME Match Funds CDBG/HUD Repayment to
City/County
7/1/2011 6/30/2041 City of Oakland Matching funds required by Federal HOME program
(H236510)
Low-Mod 36,089 N $ 36,089 36,089 $ 36,089 $ -
397 1574-90 7th Street Bond Funded Project –
Housing
6/26/2003 6/30/2041 City of
Oakland/CDCO
Site acquisition loan
(P151822)
Low-Mod 8,551 N $ 8,551 8,551 $ 8,551 $ -
398 Faith Housing Bond Funded Project –
Housing
2/13/2001 6/30/2041 City of Oakland/Faith
Housing
Site acquisition loan
(P151830)
Low-Mod 8,917 N $ 8,971 8,971 $ 8,971 $ -
399 3701 MLK Jr Way Bond Funded Project –
Housing
2/2/2004 6/30/2041 City of
Oakland/CDCO (or
maint. service
contractor)
Site acquisition loan
(P151832)
Low-Mod 5,641 N $ 5,641 5,641 $ 5,641 $ -
400 MLK & MacArthur (3829 MLK) Bond Funded Project –
Housing
2/21/2001 6/30/2041 City of
Oakland/CDCO (or
maint. service
contractor)
Site acquisition loan
(P151840)
Low-Mod 6,528 N $ 6,528 6,528 $ 6,528 $ -
401 715 Campbell Street Bond Funded Project –
Housing
6/25/2002 6/30/2041 City of Oakland/OCHI-
Westside
Site acquisition loan
(P151851)
Low-Mod 596 N $ 596 596 $ 596 $ -
402 1672- 7th Street Bond Funded Project –
Housing
12/10/2004 6/30/2041 City of Oakland/OCHI-
Westside
Site acquisition loan
(P151870)
Low-Mod 4,233 N $ 4,233 4,233 $ 4,233 $ -
Oakland Recognized Obligation Payment Schedule (ROPS 23-24) - ROPS Detail July 1, 2023 through June 30, 2024
(Report Amounts in Whole Dollars)
Item #
Project Name/Debt Obligation
Obligation Type
Contract/Agreement
Execution Date
Contract/Agreement
Termination Date
Payee
Description/Project Scope
Project Area
Total
Outstanding
Debt or
Obligation
Retired
ROPS 23-24
Total
23-24A (July - December)
23-24A
Total
23-24B (January - June)
22-23B
Total
Fund Sources Fund Sources
Bond Proceeds
Reserve Balance
Other Funds
RPTTF
Admin RPTTF
Bond Proceeds
Reserve Balance
Other Funds
RPTTF
Admin RPTTF
All $ 333,230,074 $ 45,330,892 $ 6,092,024 $ 10,674,209 $ 1,810,000 $ 10,143,060 $ 266,465 $ 28,985,758 $ - $ - $ - $ 16,078,669 $ 266,465 $ 16,345,134 403 1666 7th St Acquisition. Bond Funded Project –
Housing
2/28/2006 6/30/2041 City of Oakland/OCHI-
Westside
Site acquisition loan
(P151891)
Low-Mod 2,201 N $ 2,201 2,201 $ 2,201 $ -
423 Oak to 9th Bond Funded Project –
Housing
8/24/2006 6/30/2026 City of Oakland;
Various
Obligation to develop 465
affordable housing units
pursuant to Cooperation
Agreement with Oak to 9th
Community Benefits Coalition
Low-Mod 1,735,303 N $ 1,735,303 1,735,303 $ 1,735,303 - $ - 635 Excess bond proceeds obligation/Bond
Expenditure Agreement
Bond Funded Project – Pre-
2011
11/8/2013 6/30/2041 City of Oakland
(Housing Successor);
Allocate to Low-Mod
Housing Asset Fund per
Bond Expenditure
Agreement approved by OB
Resolution 2013-15
Low-Mod 1,220,000 N $ 1,220,000 1,220,000 $ 1,220,000 $ - 636 Excess bond proceeds obligation/Bond
Expenditure Agreement
Bond Funded Project – Pre-
2011
11/8/2013 6/1/2041 City of Oakland Projects consistent with bond covenants per Bond
Expenditure Agreement
approved by OB Resolution
2013-15
B-M-SP 25,000 N $ 25,000 25,000 $ 25,000 $ -
637 Excess bond proceeds obligation/Bond
Expenditure Agreement
Bond Funded Project – Pre-
2011
11/8/2013 6/1/2041 City of Oakland Projects consistent with bond covenants per Bond
Expenditure Agreement
approved by OB Resolution
2013-15
Central
District
3,000,000 N $ 3,000,000 3,000,000 $ 3,000,000 $ - 638 Excess bond proceeds obligation/Bond
Expenditure Agreement
Bond Funded Project – Pre-
2011
11/8/2013 6/1/2041 City of Oakland Projects consistent with bond covenants per Bond
Expenditure Agreement
approved by OB Resolution
2013-15
Central City
East
25,000 N $ 50,000 50,000 $ 50,000 $ -
639 Excess bond proceeds obligation/Bond
Expenditure Agreement
Bond Funded Project – Pre-
2011
11/8/2013 6/1/2041 City of Oakland Projects consistent with bond covenants per Bond
Expenditure Agreement
approved by OB Resolution
2013-15
Coliseum 25,000 N $ 25,000 25,000 $ 25,000 $ - 642 B/M/SP 2010 RZEDB Bond Reserve (9839) Reserves 11/12/2010 9/1/2040 Bank of New York Reserve funds required by bond covenants
B-M-SP 716,830 N $ - $ - $ -
644 2015 TE Bonds Debt Service (9826) Refunding Bonds Issued After 6/27/12
9/2/2015 9/1/2036 Zions First National
Bank
Subordinated TAB, Series
2015 Tax Exempt;
refinancing Series 2006 TE
Multiple 37,252,000 N $ 1,125,500 562,750 $ 562,750 562,750 $ 562,750 Oakland Recognized Obligation Payment Schedule (ROPS 23-24) - ROPS Detail July 1, 2023 through June 30, 2024
(Report Amounts in Whole Dollars)
Item #
Project Name/Debt Obligation
Obligation Type
Contract/Agreement
Execution Date
Contract/Agreement
Termination Date
Payee
Description/Project Scope
Project Area
Total
Outstanding
Debt or
Obligation
Retired
ROPS 23-24
Total
23-24A (July - December)
23-24A
Total
23-24B (January - June)
22-23B
Total
Fund Sources Fund Sources
Bond Proceeds
Reserve Balance
Other Funds
RPTTF
Admin RPTTF
Bond Proceeds
Reserve Balance
Other Funds
RPTTF
Admin RPTTF
All $ 333,230,074 $ 45,330,892 $ 6,092,024 $ 10,674,209 $ 1,810,000 $ 10,143,060 $ 266,465 $ 28,985,758 $ - $ - $ - $ 16,078,669 $ 266,465 $ 16,345,134 646 2015 Taxable Bonds Debt Service (9825) Refunding Bonds Issued After 6/27/12
9/2/2015 9/1/2035 Zions First National
Bank
Subordinated TAB, Series
2015 Taxable; refinancing
Series 2006T
Multiple 52,604,249 N $ 4,812,613 997,500 1,907,317 $ 2,904,817 1,907,796 $ 1,907,796 647 2015 Bond Administration (9708) Fees 8/11/2015 9/1/2036 Various 2015 bond Audit, rebate analysis, disclosure
consulting, trustee services,
etc.
Multiple 162,000 N $ 12,000 12,000 $ 12,000 $ - 648 Bank Fees for Refinanced Bonds Administration
(9708)
Fees 8/11/2015 6/30/2041 Various Bond Audit, rebate analysis, disclosure consulting, trustee
services, etc. for the close-
out of various refinanced
bonds
Multiple 156,000 N $ 12,000 12,000 $ 12,000 $ - 650 2018 TE Bonds Debt Service (9845) Refunding Bonds Issued After 6/27/12
6/6/2018 9/1/2031 Wilmington Trust N.A Subordinate Tax Allocation Refunding, Series 2018-TE
Multiple 19,035,250 N $ 759,500 379,750 $ 379,750 379,750 $ 379,750 651 2018 Taxable Bonds Debt Service (9844) Refunding Bonds Issued After 6/27/12
6/6/2018 9/1/2039 Wilmington Trust N.A Subordinate Tax Allocation Refunding, Series 2018-TX
Multiple 50,608,937 N $ 5,084,313 1,250,000 1,916,688 $ 3,166,688 1,917,625 $ 1,917,625 652 2018 T & TE Bond Bonds Administration; Bank &
Bonds Payment (9708)
Fees 6/6/2018 9/1/2039 Various 2018 bond audit, rebate
analysis, disclosure
consulting, trustee services,
bank & bond payments, etc.
Multiple 187,500 N $ 15,500 15,500 $ 15,500 $ - 654 RPTTF Shortfall RPTTF Shortfall 7/1/2023 6/30/2024 City of Oakland, As Successor
Agency
Due to a reporting error on
the Prior Period Adjustments
for the Fiscal Year reporting
period of 2019-2020, the
bond reserve requirement
was omitted in reporting. This
funding was required to be
held for the next debt service
payment on 9/1/2020 per the
bond rating agencies, bond
counsel, and the PPA
instructions. This error
resulted in an overcalculation
of remaining RPTTF which
reduced the RPTTF
remittance in FY 2020-21
causing a deficiency in the
available RPTTF to make the
debt service payments.
Agency-wide 5,059,907 N $ 5,059,907 5,059,907 $ 5,059,907 $ -
Oakland 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
A
B
C
D
E
G
H
I
ROPS 20-21 Cash Balances
(07/01/20 - 06/30/21)
Fund Sources
Comments
Bond Proceeds Reserve Balance Other 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)
6,129,229
6,096,818
30,223,700
1,545,366
10,575,802
2 Revenue/Income (Actual 06/30/21)
RPTTF amounts should tie to the ROPS 20-21 total distribution from the County Auditor-Controller
400,261
6,285
-
1,277,234
53,165,530
3 Expenditures for ROPS 20-21 Enforceable Obligations
(Actual 06/30/21)
221,700
10,020,000
30,223,700
49,282
18,730,839
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)
858,799
5,065,607
-
-
25,431,314
5 ROPS 20-21 RPTTF Balances Remaining
RPTTF amount should tie to the Agency's ROPS 20-21 PPA form submitted to the CACo
No entry required
383,944
6 Ending Actual Available Cash Balance (06/30/21)
C to G = (1 + 2 - 3 - 4), H = (1 + 2 - 3 - 4 + 5)
$ 5,448,991
$ (8,982,504)
$ -
$ 2,773,318
$ 19,195,235
Oakland Recognized Obligation Payment Schedule (ROPS 23-24) - Notes
July 1, 2023 through June 30, 2024
Item # Note Description
5 6
14 Per 34171(b); This is a statutory requirement that has no agreement with specified start or termination dates. Many of these obligations are dependent on other obligations; i.e. project and administrative staff and other operating costs are needed to manage all of the Agency's obligations until they are all concluded, or property is required to be remediated and maintained until it is sold or otherwise transferred; with variou s terms.
17 In order to conform to the bond indenture, all of the full year of debt service is requested during the January 2nd RPTTF distribution. Amounts not needed for the March 1st debt service payment will be held in reserve for the September 1st debt service payment.
18 Federal Recovery Zone Subsidy is not guaranteed, so RPTTF request to cover full debt service payment. In order to conform to the bond indenture, all of the full year of debt service is requested during the January 2nd RPTTF distribution. Amounts not needed for the March 1st debt service payment will be held in reserve for the September 1st debt service payment. 20 Bond Legal Requirement
23 24
54 Per 34171(b); This is a statutory requirement that has no agreement with specified start or termination dates. Many of these obligations are dependent on other obligations; i.e. project and administrative staff and other operating costs are needed to manage all of the Agency's obligations until they are all concluded, or property is required to be remediated and maintained until it is sold or otherwise transferred; with various terms. 60 Venue Security Deposit Reimbursement
61 Venue Security Deposit Reimbursement
74 Bank and Bond Administrative Fees
75 84
Monitoring and enforcement of developer post -construction obligations must be performed for the life of the Redevelopment Plan for the Project Area.
The Agency may be required to 1) modify agreements; 2) provide evidence that there are no defaults on the project when there is refinancing; or 3) monitor profit sharing or other provisions of the agreement. In addition, several of the post - construction obligations, such as nondiscrimination provisions included in the agreements, are effective in perpetuity. Obligation amount not known. Garage revenue used to pay H OA fees.
Maintain until property is sold.
90 Monitoring and enforcement of developer post -construction obligations must be performed for the life of the Redevelopment Plan for the Project Area.
The Agency may be required to 1) modify agreements; 2) provide evidence that there are no defaults on the project when there is refinancing; or 3) monitor profit sharing or other provisions of the agreement. In addition, several of the post- construction obligations, such as nondiscrimination provisions included in the agreements, are effective in perpetuity. Obligation amount not known.
92 Monitoring and enforcement of developer post -construction obligations must be performed for the life of the Redevelopment Plan for the Project Area.
The Agency may be required to 1) modify agreements; 2) provide evidence that there are no defaults on the project when there is refinancing; or 3) monitor profit sharing or other provisions of the agreement. In addition, several of the post- construction obligations, such as nondiscrimination provisions included in the agreements, are effective in perpetuity. Obligation amount not known.
93 Monitoring and enforcement of developer post -construction obligations must be performed for the life of the Redevelopment Plan for the Project Area.
The Agency may be required to 1) modify agreements; 2) provide evidence that there are no defaults on the project when there is refinancing; or 3) monitor profit sharing or other provisions of the agreement. In addition, several of the post- construction obligations, such as nondiscrimination provisions included in the agreements, are effective in perpetuity. Obligation amount not known.
94 Monitoring and enforcement of developer post -construction obligations must be performed for the life of the Redevelopment Plan for the Project Area.
The Agency may be required to 1) modify agreements; 2) provide evidence that there are no defaults on the project when there is refinancing; or 3) monitor profit sharing or other provisions of the agreement. In addition, several of the post- construction obligations, such as nondiscrimination provisions included in the agreements, are effective in perpetuity; other source is developer fee. 95 96
Monitoring and enforcement of developer post -construction obligations must be performed for the life of the Redevelopment Plan for the Project Area.
The Agency may be required to 1) modify agreements; 2) provide evidence that there are no defaults on the project when there is refinancing; or 3) monitor profit sharing or other provisions of the agreement. In addition, several of the post- construction obligations, such as nondiscrimination provisions included in the agreements, are effective in perpetuity. Contract date unknown; Obligation amount not known. 97
Oakland Recognized Obligation Payment Schedule (ROPS 23-24) - Notes
July 1, 2023 through June 30, 2024
Item # Note Description
105 Obligation to remain until property is sold.
200
In order to conform to the bond indenture, all of the full year of debt service is requested during the January 2nd RPTTF distribution. Amounts not needed for the March 1st debt service payment will be held in reserve for the September 1st debt service pay ment. 202
204
246
In order to conform to the bond indenture, all of the full year of debt service is requested during the January 2nd RPTTF distribution. Amounts not needed for the March 1st debt service payment will be held in reserve for the September 1st debt service payment. 250
383
This is a statutory requirement that has no agreement with specified start or termination dates. Many of these obligations ar e dependent on other obligations; i.e. project and administrative staff and other operating costs are needed to manage all of the A gency's obligations until they are all concluded, or property is required to be remediated and maintained until it is sold or otherwise transferred; with various terms.
Retain until all Low-Mod Items are retired.
389 Matching funds to come from Housing Successor program income. No termination date. Funded from LMIHF.
397 Estimated completion; No termination date.
398 Estimated completion; No termination date.
399 Estimated completion; No termination date.
400 Estimated completion; No termination date.
401 Estimated completion; No termination date.
402 Estimated completion; No termination date.
403 Estimated completion; No termination date.
419
423 Estimated completion - no termination date.
635
Future excess bond proceeds to be transferred to the City per the Bond Expenditure Agreement approved by OB and DOF and executed Nov 8, 2013.
636
Future excess bond proceeds to be transferred to the City per the Bond Expenditure Agreement approved by OB and DOF and executed Nov 8, 2013.
637
Future excess bond proceeds to be transferred to the City per the Bond Expenditure Agreement approved by OB and DOF and executed Nov 8, 2013.
638
Future excess bond proceeds to be transferred to the City per the Bond Expenditure Agreement approved by OB and DOF and executed Nov 8, 2013. 639 Future excess bond proceeds to be transferred to the City per the Bond Expenditure Agreement approved by OB and DOF and executed Nov 8, 2013. 642 Existing reserve amounts required per bond covenants. 644 2015 Bonds refund 2006 TE bonds (partial for Coliseum), plus Housing Taxable for savings. 646
647
648
649
650
651
652
654 RPTTF Shortfall from unreported debt service reserves.
EXHIBIT B
SUCCESSOR AGENCY ADMINISTRATIVE BUDGET
(attached)
5 Exhibit B
ROPS 2023-2024
Administrative Budget
ROPS 2023-24
ADMINISTRATIVE MAXIMUM
Actual RPTTF distributed for fiscal year 2022-23 $ 18,433,858 Less distributed Administrative RPTTF 2022-23 $ (669,496) RPTTF distributed for 2022-23 after adjustments $ 17,764,362 3% $ 532,931
DEPARTMENT PERSONNEL ROPS 2023-24
Finance & Management Department 530,431
Subtotal Personnel $ 530,431
O&M ROPS 2023-24
City Supplies 500
Accounting & Auditing Services 2,000
Internal Services & Work Orders 0
Subtotal O&M $ 2,500
TOTAL SUCCESSOR ADMIN BUDGET $ 532,931