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Received at meeting of:te',1 <br />, -Wr 4.. <br />Date: U ' <br />a Si n Item No: 21 <br />DEPARTMENT OF EDMUND G. B ROW N JR. - GOVERNOR <br />C 'OCIFpRT 1 � P <br />F1 N A N C E 9 1 5 L STREET ■ 9ACRAMEMTO CA ■ 95814- ■ WWW.OGR.CA.BOV <br />October 14, 2012 <br />Mr. Emilio Ramirez, Development Director <br />City of Riverside <br />3900 Main Street, 5"' Floor <br />Riverside, CA 92522 <br />Dear Mr. Ramirez: <br />Subject: Recognized Obligation Payment Schedule <br />Pursuant to Health and Safety Code (HSC) section 34177 (m), the City of Riverside Successor <br />Agency submitted a Recognized Obligation Payment Schedule (ROPS III) to the <br />baUfornia Department of Finance (Finance) on August 30, 2012 for the period of January <br />through June 2413. Finance has completed its review of your ROPS III, which may have <br />included obtaining clarification for various items. <br />HSC section 34171 (d) defines enforceable obligations. Based on a sample of line items <br />reviewed and application of the law, the following do not qualify as enforceable obligations: <br />• Various items in the amount of $13.1 million of bond proceeds. HSC section 34163 (b) <br />prohibits a redevelopment agency from entering into a contract with any entity after <br />June 27, 2011. The following items had no contracts in place prior to June 27, 2011, <br />and therefore are not enforceable obligations_ <br />Item <br />Pro'ect Name <br />Total <br />Outstanding Debt <br />9 <br />BNSF Quiet Zones <br />$ 159,908 <br />16* <br />Arlington Park Childcare <br />4 <br />25 <br />BNSF Quiet Zones <br />327 <br />28* <br />Villegas Park Improvements <br />3,200,000 <br />125 <br />154* <br />155* <br />BNSF Quiet Zones <br />Camp Anza Officers Club <br />_ qqLnp Anza Officers Club <br />351,066 <br />1 <br />266 <br />156. <br />Collett Street Expansion <br />2 , 500 ,000 <br />' Total Amount <br />*Based on review of addftional information provided with <br />$13,1 06 203 <br />the Aaencv's anneal <br />u 1e nutiju remain oemea as enforceable obligations. <br />letter, <br />• Various items — City Loans in the amount of $19.1 million of Redevelopment Property <br />Tax Trust Fund (RPTTF) and bond proceeds. HSC section 34171 (d) (2) states'that <br />loans between the City that created the redevelopment agency (RDA) and the successor <br />