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OCII workshops recognized obligation payment schedule (ROPS) for Jan–Jun 2014; $87.7M RPTTF request discussed
Summary
Staff briefed the commission on ROPS 13-14b, explaining new DOF RAD app requirements, a draft RPTTF request of $87.7 million and a total ROPS draft of about $289.8 million; staff outlined timelines for oversight-board action and DOF review.
Commission staff presented an informational workshop on the Recognized Obligation Payment Schedule (ROPS) 13-14b, covering the Jan. 1–June 30, 2014 period and the statutory submission timeline.
Sally Orth, deputy director, explained state changes to the ROPS format and a new web-based RAD application that requires numerical data entry in select fields. Orth said the draft ROPS shows a requested Redevelopment Property Tax Trust Fund (RPTTF) total of about $87.7 million for the period, with $85.3 million for programmatic (non-admin) uses and $2.4 million for administrative allowance. The draft total ROPS across funding sources is approximately $289.8 million, including bond proceeds, reserves, developer payments and other grants.
Orth reviewed major program-area requests: $132 million in housing-related payments (including Mission Bay and Hunters Point projects), roughly $91 million in non-housing project payments, and various asset-management and administrative costs. She described a two-step debt-service timing issue across ROPS periods and staff's plan to create a debt-service reserve line to smooth payments. Orth outlined the local timeline (workshop, oversight board review on Sept. 23, DOF initial determination 45 days after submission) and statutory deadlines (submission by Oct. 1; DOF determination by Dec. 18 to permit Jan. 2 tax distributions).
Commissioners asked about restricted reserves and why certain outstanding loans (for example, loans related to Yoshi's and Fillmore-area properties) appear on the ROPS; Tracy Reynolds, real estate manager, explained the agency listed enforcement obligations and loans on ROPS even when no immediate cash payment is required and noted amendments would be brought forward as needed. The workshop was informational; no action was taken.
