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6. ROPS Lines 5-6: Repayment to the City for principal and interest is due for funds advanced by the City for Downtown projects. This is an existing agreement prior to January 1, 2011, and is an enforceable obligation under the legislation (H&S 34171(d)(2)) as it is supported by an agreement repaying the City in connection with bonds issued for the legitimate purpose of loaning funds to the Redevelopment Agency. Although the DOF denied the request for payment of this item, the City believes this is an enforceable obligation. Accordingly, no funds are being requested on this ROPS. Line 7: Fees for arbitrage rebate calculations, fiscal agent fees and annual disclosure fees in connection with the 2003 Tax Allocation Bonds. Lines 17-20: The unfunded pension and retiree medical obligations attributable to employees who provided services to the former Redevelopment Agency. At the December 5th 2012 meeting the Board approved this agreement. The DOF subsequently confirmed that these are valid obligations. The agreement calls for semi-annual payments of$208,681 to be made until FY 2017-18; these line items represent the fifth of ten payments. Line 22: As part of the financing arrangement for this Low and Moderate Income Housing project located at 1540 El Camino Real, funds were provided from three sources: the Redevelopment Agency Low and Moderate Income Housing fund ($1,927,000), Community Development Block Grant funds ($200,000), and the County of San Mateo ($500,000). The loan agreement requires the developer to make payments to the Redevelopment Agency which in turn is required to remit amounts due back to the County. Repayments are not expected until December 1, 2045. This item was added as a place holder for these future repayments; accordingly, no funds are being requested on this ROPS. Line 23: The statutory administrative cost allowance provided by Health and Safety Code section 34171 (b) is $250,000 per fiscal year. The proposed administrative cost for the ROPS 15-16A is $58,745. Lines 25: AB1290 pass through payment owed to taxing agency, City of Redwood City, was denied by the DOF but will be pursued. Line 39: Legal services costs relating to the DOF's denial of City/Agency Loan (lines 5-6)above. No funds are being requested on this ROPS period. Audrey Seymour Ramberg Interim Finance Director, Successor Agency ATTACHMENTS 1. Resolution approving the Recognized Obligation Payment Schedule 15-16A (including the Recommended ROPS 15-16A) •Page 2