HomeMy WebLinkAboutOversight Board - 2012-02 RESOLUTION NO. 2012-02
A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR
AGENCY OF THE HUNTINGTON BEACH REDEVELOPMENT AGENCY
APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE
FOR THE JANUARY 1 —JUNE 30, 2013 SIX-MONTH FISCAL PERIOD
("THIRD ROPS")
WHEREAS, pursuant to AB xl 26 (as amended by AB 1484, the "Dissolution Act"), the
separate legal entity known as the Successor Agency of the Huntington Beach Redevelopment
Agency (the "Successor Agency") must prepare "Recognized Obligation Payment Schedules"
("ROPS") that enumerate the enforceable obligations and expenses of the Successor Agency for
each successive six-month fiscal period until the wind down and disposition of assets of the
former Huntington Beach Redevelopment Agency; and
The Successor Agency staff has prepared a ROPS for the six-month fiscal period
commencing on January 1, 2013 and continuing through June 30, 2013 (the "Third ROPS")
which is attached hereto as Exhibit A, and
Under the Dissolution Act,the Third ROPS must be approved by the Successor Agency's
oversight board (the"Oversight Board"); and
Pursuant to the Dissolution Act, the duly constituted Oversight Board met at a duly
noticed public meeting to consider approval of the Third ROPS; and
After reviewing the Third ROPS presented to and recommended for approval to the
Oversight Board by Successor Agency staff, and after reviewing any written and oral comments
from the public relating thereto,the Oversight Board desires to approve the Third ROPS.
NOW, THEREFORE, the Oversight Board of the Successor Agency does hereby
resolves as follows:
1. The foregoing recitals are true and correct.
2. The Oversight Board hereby approves the Third ROPS in the form presented to
the Oversight Board and attached hereto as Exhibit A, and hereby determines that such
agreements and obligations constitute "enforceable obligations" and "recognized obligations" for
all purposes under the Dissolution Act.
3. The Oversight Board authorizes and directs the Successor Agency staff to: (i) take
all actions necessary under the Dissolution Act to post the Third ROPS on the Successor Agency
website; (ii) transmit the Third ROPS to the Auditor-Controller and the County Administrator of
the County of Orange and to the State Controller and the State Department of Finance (the
"DOF"); and (iii) to do any and all things and to execute and deliver any and all documents
which may be necessary or advisable in order to effectuate the purposes of this Resolution. In
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12-3456/83594
Oversight Board Resolution No. 2012-02
addition, the Oversight Board authorizes and directs the Successor Agency staff to make such
non-substantive revisions to the Third ROPS as may be necessary to submit the Third ROPS in
any modified form required by DOF, and the Third ROPS as so modified shall thereupon
constitute the Third ROPS as approved by the Oversight Board pursuant to this Resolution.
4. This Resolution shall take effect at the time and in the manner prescribed in
Health and Safety Code section 34179(h).
PASSED AND ADOPTED by the Oversight Board of the City of Huntington Beach at a
special meeting thereof held on the 2 3 r d day of August 720 12 .
Chairperson
RtX APPROVED: INITI PROVED:
E tiv Director Deputy Executive Director
APPROVED AS TO FORM:
Board Counsel
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12-3456/83594
Oversight Board Resolution No. 2012-02
EXHIBIT A
SUCCESSOR AGENCY OF THE HUNTINGTON BEACH REDEVELOPMENT AGENCY
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
January 1, 2013 through June 30, 2013
("Third ROPS")
[Behind this page.]
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12-3456/83594
Successor Agency Contact Information
Name of Successor Agency: Huntington Beach Redevelopment Agency Successor Agency
County: Orange
Primary Contact Name: Lori Ann Farrell
Primary Contact Title: Director of Finance
Address 2000 Main Street,Huntington Beach,CA 92648
Contact Phone Number: (71.4)536-5225
Contact E-Mail Address: loriann.farrell@surfcity-hb.org
Secondary Contact Name: Kellee Fritzal
Secondary Contact Title: Deputy Director of Economic Development..
Secondary Contact Phone Number: (714)374-1519
Secondary Contact E-Mail Address: kfritzal@surfcity-hb.org
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SUMMARY OF RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Filed for the January 1,2013 to June 30,2013 Period
Name of Successor Agency: Huntington Beach Redevelopment Agency Successor Agency
Total Outstanding
Debt or Obligation
Outstanding Debt or Obligation $ 1zo,22s,e5i.
Current Period Outstanding Debt or Obligation Six-Month Total
A Available Revenues Other Than Anticipated RPTTF Funding 6,50o,0oo O
B Anticipated Enforceable Obligations Funded with RPTTF 11,916,468 <
C Anticipated Administrative Allowance Funded with RPTTF 357,464 tD
D Total RPTTF Requested B+C=D 12 2T2,932 to
Total Current Period Outstanding Debt or Obligation(A+B+C=E)Should be the same amount as BOPS form six-month total $--.` - 18,T72,632 UZI'
E Enter Total Six-Month Anticipated RPTTF Funding(Obtain from county auditor-controller) ",7,921;517 C_+
F Variance E-D= F Maximum RPTTF Allowable should not exceed Total Anticipated RPTTF Funding $ (4,351,416) 00
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Prior Period(January 1,2012 through June 30,2012) Estimated vs.Actual Payments(as required in HSC section 34186(a)) Q'
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G Enter Estimated Obligations Funded by RPTTF(Should be the lesser ofFinance's approved RPTTF amount including admin allowance or the actual amount distributed) 7,519,850
H Enter Actual Obligations Paid with RPTTF 6,215,092 rD
Enter Actual Administrative Expenses Paid with RPTTF 250,000 N
J Adjustment to Redevelopment Obligation Retirement Fund G- H+I =J 1,054,758 0
K Adjusted.RPTTF(The total RPTTF requested shall be adjusted if actual obligations paid with RPTTF are less than the estimated obligation amount.) $ 11;218,174' O
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Certification of Oversight Board Chairman:
Pursuant to Section 34177(m)of the Health and Safety code, Name Title N
I herebycertify that the above is a true and.accurate Recognized I
fY 9 Q O
Obligation Payment Schedule for the above named agency. O N
Signature Date
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Name of Successor Agency: Huntington B...h Redevelopment A enc Successors enc r
County: Orange Oversight Board Approval Data:
RECOGNIZED OBLIGATION PAYMENT SCHEDULE(BOPS III)
January 1,2013 through June 30,2013
Total Fundin Source
Outstanding Total Due During
Contract/Agreement Contract/Agreement - Debtor Fiscal Year Bond Reserve Admin
Item# Project Name/Debt Dbli ation Execution Date Termination Date Payee Descri Gon/Project Bco a Project Area Obfi anon 2012-13' LMIHF Proceeds Balance Allowance RPTTF Other Six-Month Total
Grand Total :..:.. -"' -- 3 179228 851 3 19,064,581 $- 6000,000 $' - S: - $ 357 464 S 11,815 488 $
Land Sale Emerald Gov. May 16,2009 October 1,2030 COHB Park A S D Fund Legally Binding Operative Agreement Principal Amount-
$1,740,034,Interest Rates 3.111,Debt Incurred on May '
1 18,2009 Merged 5.676.433 442,905 442.905 '`' 442,905
Hyatt Regency Huntington Beech September 14,1996, September 30,2023 Robert Mayer Corporation Disposition and Development Agreement approved on
Project amended February 5, September 14.1996 for the Waterfront Development -
2 2001 Merged 5,433.057 1.043,148 1,043148 ': 1,043148
3 2002 Tax Allocation RefundingBands June 19,2002 Au ustl 2024 Bank of New York Trust Co. Tax Allocation Bonds Debt Service Payments Merged 16,329,113 1,640,936 1,640,939 ".1,840,938
4 1999 Tax Allocation RefundingBonds January12 1999 August 1 2024 Bank of New York Trust Co. Tex Allocation Bonds Debt Service Pa ments Merged 7,472,947 743,269 743,289 743 2 99
2002 Tax Allocation Refunding Bonds November 17,2010 November 17,2013 Arbitrage Compliance Tax Allocation Bonds arbitrage rebate calculation-
5 Specialist Federal IRS Compliance Mer etl Soo 500 500 500
1999 Tax Allocation Refunding Bonds November 17,2010 November 17.2013 Arbitrage Compliance Tax Allocation Bonds arbitrage rebate calculation-
B Specialist Federal IRS Compliance Merged 500 500 500 -.�snn
7 2002 Tax Allocation Refunding Bonds June 19 2002 August 1 2016 Internal Revenue Service IRS Arbitrage Rebate Payment Me r etl 522,754 528,754 526,754 _528 754
B 2002 Tex Allocation RefundingBonds June 19 2002 Au usti 2024 Bank of New York Mellon Tex Allocation Bands-Pe mentlo fiscal Agent Merged 1,537 1,537 7,537 -.--1.537
B 1999 Tax Allocation RefundingBonds January12,1999 Au usl1,2024 Bank of New York Mellon Tax
Allocatlon Bonds-Pe ment te Fiscal Agent Merged 848 848 848 -'848
2002 Tax Allocation Refunding Bonds July 7,2009 July 7,2012 Harrell S Company Advisors, Preparation and filing of Continuing Disclosure Annual
10 LLC Reports and Material Event Notices Merged 250 250 250 250
1999 Tax Allocation Refunding Bonds July 7,2009 July 7,2012 Harrell 8 Company Advisors, Preparation and filing of Continuing Disclosure Annual
11 LLC Re arts and Material&ant Notices Merged 1,525 1,525 1,525 - 1,525
Emerald Cove 2010 Series A Lease May 13,2010 September 1,2021 US Bank Emerald Cave 2010 Series A Lease Revenue Refunding
12 Revenue Refuntlin Bonds Bonds Debt Service Payments Merged 3 649 834 404,932 404,932 "'.404 932
HUD Section 106 Infrastructure Loan July 21,2010 August 1,2019 Bank of New York Mellon Legally binding and enforceable loan agreement will the
for HyatdHilton Properties D.S.Department of Housing and Urban
Development for
13 a ital improvements
Merged 3025,000 427,512 427,512 427512
Strand Hotel and MIzed-Use Project, June 1999 to November September 30,2033 CIM Group,LLC and Kane Property Tax Sharing Agreement under the D sposi6on
Parking S Infrastructure 2006 Ballmer and Berkman and Development Agreement(DDA)for development of
hotel,retail restaurant and public parking structure.The CD
Implementation of the DDA and the Sixth Implementation G
Agreement were entered into from June 1996 to
14 November 2008. Merged 13344723 702,903 702903 702803 �$
Strand Project Additional Parking January 20.2089 September 31),2033 CIM Group,LLC Property Tex Sharing Agreement under the Deposition - (n
end Development Agreement(DDA)and Sixth
Implementation Agreement for the Stand projects perking
15 structure authorized on Janue 2B 2BB9. Merged 1,039 2B5 49,576 49,576 49 578
Pacific City October 16,2008 FY 2030-31 Maker Properties S Kane Owner Paullcipation Aereamenl approved on Dctober 16, C"+
Ballmer and Berkman 201313 for future development of a 31 acre site located at
Pacific Ceasl H ghway antl First Street and financed by - W
Is tax allacabons. Merged 5.520,000 20,000 20,000 20,OB0
Pacific City-Very Low Income Units October IS,2006 FY 2030-31 Maker Properties 15%affordable housing requirement pursuent to
Attachment 5 of the Owner Participation Agreement
approved on October 16,213136.Df the 15%required �$
housing obligation,5%very4,w income hausing is to be (1
developed by the Housing Authority.The Developer is _
17 required to provide the rams ping 10%on site. Merged 6.500.000 6,500,000 8 5013,000 6 SOB Egg
Affordable Housing Campl an- Dr glnal Agreement July 2B,2013 Amerinational Statutory obligation for housing compliance services N
pursuant to the r.,ulr.m enis of Secbon effective July 20,2018/ pursuant[o We requ rements of Section 334f 31b)14)and O
33413(b)(4)antl 33490(a)(2)and(3)of Amended on July 26,2011 33490(a)(2)end(3)of the California.
the California - Community Redevelopment Law Health and Safety Code
Community Redevelopment Law, Section 33000 at.seq and eligible under Health end z
Health and Safety Code Section 33000. Safety Code Secbon 34171(d)(1)(F) 0
at seq.Covariant monitoring per AS
iB 967. Mar ed 75,000 75,000 75,008 75000 N
Repayment of SERAF Debt Obligation May 1B,2010 FY 2014-15 Housing Authority Legally enforceable obligation for SERAF Loan repayment -
1B 2009 Merged 3331.300
Re payment of SERAF Debt Obligation May 1B,20t1 FY 2015-16 Housing Authority Legally enforceable obligation to(SERAF Loan repayment N
20 2018 Merged 706,842 - - -
OwnerParticpation May28,1991 and December 31,20t7 Abdelmudl Development Owner Participation Agreemenf/Rent Differentialfohilm.di
reement/Rent Differential Agreement November 2t,1994 Company Agreement approved on May 281991 for the
development of the three story building at the Oceanvi N
Promenade.The Third Implementation Amendment took
21 effect on November 21.1994. Merged 6 B00 6 OOB 6,000 8 000 1-11
Covenant enforcement for Affordable February 20,2012 February 20,2Bt3 Jessica Latham,Esq Statutory obligation for legal compliance and op.,eU...of X
housing projects for the purpose of Housing Authority pursuant to the requirements of Section -
Increasing Improving and preserving 33413(b)(4)and 33491)(11)(2)and(3)of the California the Cllye supply of low and moderate Community Redevelopment Law,Health and Safety Code -
Income housing pursuant to the Section 33000,at seq.
requirements of Section 33413(b)(4)
and 33490(a)(2)and(3)of the
California Community Redevelopment _
Law,Health and Solely Code Section
22 33000,e'as Merged 30,000 30,000 30,000 30,000 n
Total Funding Source
Dutst rn ing Total Due During
ContracttAgreement ContracttAgreement Debtor Fiscal Year Bond Reserve Admin
item N Project Name/Debt Dbli etion Execution Date Termination Data Payee Description/Project Scope Project Area Obli afion 2012-13 LMIHF Proceeds Balance Allowance RPTTF Dther Slx-Month Total
Unfunded CaIPERS Pension Liabilities As of6/30/10 N/A CaIPERS Unfunded CsIPERS pension obligation as per CaIPERS
actuarial valuation as of June 30,2010 with estimated
23 factor increase for FY 12J13 Merged 2,674,172 190.951 95.476 '85,478
Unfunded Supplemental Retirement As of 9/30/11 N/A US Bank Unfunded ec—mW accrued liability as at September 30,
Llabilitiec 2012 as per actuar al valuation by Badel Associates,LLC.
24 Merged 818,180 57,904 28,952 --28952
Public Agency Retirement Systems September 10,2010 October 10,2014 Pacific Life Ins Legally enforceable retirement obligation for early -
(PARS)Notes Payable retirement incentive program and annuity canlrect with
25 Pacific Life Insurance Incur prated. Merged 60.035 19,985 19.965 ""19.965
Unfunded OPEB Liabilities As of 6/30/11 N/A C.IPERS/CERBT Unfunded actuarial accrued liability as of June 30,2012 as
26 er Bartel Associates LLC. Merged 252593 12444 8222 82 22
Obligation for unused employee As of 9130111 audited NIA City employees directly Obligation for unusm employee General Leave earned I
General Leave earned and vested finenciel stetements inv,ivad In Housing and and vested as per MOUs end AS 1X26
Redevelopment projects end
27 administratlan Merged 124,391 11.460 11,460 11,460
Successor Agency Compliance per H& May 7,2007 April 30,2010 Tierra West Financial and Reel estate consultant
28 B Code 33433 Merged 30,000 15,000 15.000 15,000
Belle Terra Parking Infrastructure October 2,2000 and September 30,2025 Bella Terra Assoc ate,LLC Property Tax Sharing Agreement required under the te[ms
Property Tax Sharing Agreement September 17,20DT and Kane Ballmer end of the Owner Pertidp0on Agreement(dated 102/2000)
Berkman and Second Implementation Agreement(dated
9/17/20D7)(or the development of the Hunfington Center
(Bella Terra)Includes legal requirements to enforce
29 obli afion. Met ed 13,847.382 1,210,008 1,210.008 �'.'.1,21 O'D a
Bella Terra Phase II October 4,2010 July 1,2036 BTDJM Phase II Associates Affordehle Housing Agreement approved an October 4,
(DJM)end Kene Ballmer end 2D70 far construction at a 487 mlxedusa unit project.
Berkman Project is on currently un de r constructi and financed by
property tax efacaeans.Includes legal requirements to
30 implement obligation. Merged 27,438.830 10,000 ''':10,000
Pierside Pavilion Owner Participation July 8,2009 N/A Plerside Pavilion,LLC and Owner Pedicipetion Agreement(OPA)approved on July
Agreement Kan a Bellmer and Berkman 8,2009 for the confinued redevelopment oil site
located at 300 Pacific Coast Highway in Downtown
Huntington Beach.Legal services were incurred to amend
31 the ail obit ated OPA. Merged 4.000 4000 ''.�4,000
Dperative Agreement for the Huntington Fiscal Year 2004105 October 1.2030 City of H,ntingtcn Beach Loan repaym;nt for advance made on capital projects in
Beach Redevelopment Project FY 2004/05 0
32 - Southeast Coastal 283211 21319 21319 _ ":'.21319 C
Assessment for AES Property Tax March 21.2011 March 21,2012 Van Horn Consul ing Assessment for AES Property Tax Valuation (D
33 Valuation Southeast Coastal 5000 5,000 5,000 ":'5000
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Payment of cask Incurred to fulfilled collective bargaining
Employee terminalf-payoff costs agreements for IayaRsltarminations of City employees
related to dssolubon of Redevelopment relating to the tl.solution of the Retlavelopment Agency Merged&
34 Agency 9/30/2011 9/302011 Employee 1 per Health&Safety Cade Section 34171(d)(1 C Southeast Coastal 18.393 16.393 16,393 18,3B3
Payment at costs incurred to fulfilled collective bargaining
Employee termination/layoff—le agreements for layoffsRerm nations of City employees UZI
related to dissolution of Redevelopment relating to the dissolution at the Redevelopment Agency Merged& 0
35 A en 9/302011 9/30/2011 Employee 2 per Health&Safety Cade Section 341711d 1 C Southeast Coastal 24,483 24.483 24,483 24.483 LU
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Payment of costs incurred to fulfilled collective bargaining Q
Employee ta[ntinatlonllayoR costa agreements for layaffslterminations at City employees
relatatl to dissolution of Redevelopment relating 1,the d ssalution of the Redevelopment Agency Merged o&
38 A ens 9/30/2011 1223/2011 Employee 3 er Health$Safety Cade SecBon 34171 d 1 C Southeast Coastal 75,328 75.328 i 75,328 75 328
Payment of costs ncurred to fulfilled collective bargaining N
Employee term nalioNleyoff casts agreements for la,offs/term nations of City employees O
related to dissolution of Redevelopment relating to the dissolution of the Redevelopment Agency Merged$
37 Agency
9/30/2011 9/30/2011 Emloee4 per Health$Safery Cade Section 34171(d)1(C Southeast Coastal 9,728 9,728 8728 '','9,728 Z
0
Payment cf Iitlgalmn costs incurred through June 30,2012 _
relating to application for a Temporary Restraining Order N
Utlge9on expenses for Cify of Pelmdafe pertaining to the June 1,2012 property tax payments 0
at al v.Matosenfoe pursuant to Health - eligible under Health end Safety Cade Section Merged&
38 and Safe Coda BacBon 34}71 d 5 F 71D812012 71BI2015 Kane Ballmer&Berkman 34171 d 1 Fes mended by AS 1484 Southeast Coastal 13,993.00 13,993 13,993 13.993 N
Legal expenses for Successor Agency
ompllance with AS lx 26 and AB 1484
Pursuant to Health and Safety Code Legal expenses to ensure Successor Agency compliance Merged$ 0
39 Section 34171 d 1(F) 7/082012 1 7/82015 Kane Ballmer$Berkman with AS lx 26 and AS 1484 Southeast Coastal 150,000.00 150,000 1 75,000 -:,'.75,000 N
Economic Analysis services related to (T7
Successor Agency compliance with AS Economic Analysis cansuifing services to ensure X
tx 26 and All 1414 pursuant to Health Successor Agency compliance with AS 1x 26 and AB Merged& �-
40 and Sete Code Secbon 34171 d 1 F 6/15/2010 6/15/2013 Keyser Marston 1404 Southeast Coestal 200 000.00 200,000 100.000 :-100.000
Land end Right-of-way acquisition costs connected with �-
Huntington Canter Redevelopment Plan the Gotherd Heaver Extension project and development at
41 development
1987 10/1/2030 Successor Agency a public storage facility Merged 4 41B,3B4,00 296,498 296,495 288,4915
Mal,-Pier Redevelopment Project Costs incurred to acquire land within the Main-Pier project -
42 Phase If 1900 10/12030 SuccessorA ens area to,Phase ll develo menlProjects Merged 5 150,543.00 345,788 345,788 :,345.71E
Casts incurred to acquire land within the Main-Pier project _
Development of Dawntown Main-Pier area to Implement the ccnstruefion of parking facilities n
43 ro act area 1988,1990 10/12030 SuccessorA en within the Downtown Main-Pier area Met ed 3,555,243.00 238,685 238 BB5 238 885
Total Fundino Source
Outstanding Total Due During
ContractlAgreemenl ContractlAgreement Debtor Fiscal Year Bond Reserve Admin
Item# Project Name/Debt Obll stion Execution Date Termination Date Payee Description/Project Scope Project Area Obligation 2012-13 LMIHF Proceeds Balance Allowance RPTTF Other Six-Month Total
Relocation,property acquisition,and other project costs
ciated with the Third Block West
Third Block West CondominlundRetail/Ofice project in the Meln,Pier
44 co erciagreaidan6el p,,lot 1996 10/12030 SuccessorA enc y Red...lo ment ro'ecl area Merged 14,971453.00 1 1005122 1005122 :-;:1003122
Second Block Alley end Street Property acquisition cost associated with the Second -
45 im rovemanl Pro'eci 1966 10/1/2030 SucceasorA enc Block ells and street lm rovement roe. Merged 345208.00 23,176 23176 '23176
46 Strand Project 1996 10/1/2030 Successor Agency Relocation casts paid to Wind and Sea Surf Shop Merged 67,501.00 5.675 5,675 5,875
Piers id.H.t.VRetalVParking Structure Relocation costs paid to Terry's Caflea Shop and Flrsl .
47 Pro'e.t - 1990,1992 10/1/2030 SucceasorA en Interstate Benk Merged 407,212.00 27339 27339 %27339
Costs related to the relocation,buyout,and demolition of
Waterfront Commercial Master Site Drfllwood and Pacific Mobile Home Park.related to the
48 Plan 1989,2001 10/12030 Successor Agency Waterfront Commercial Master Site Plan Merged 16,960,906600 1,136,886 1,136,666 �;�1138686
Property acquisition costs associate tl with the Strand
49 Strand Project 1990.1991,1994,1969 10/12030 SuccessorA en Project Mer coastal
14,475,966.00 971,859 971.859 '�871 659
50 Enforcement of Successor Agency Various Various Successor Agency,Kane Successor Agency administrative obligations rele6ngto Southeast Coastal 357464 357.494 357464 357464
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Name of Successor Agency: Huntington Beach Redevelopment Agency Successor Agency
County: Orange
RECOGNIZED OBLIGATION PAYMENT SCHEDULE(ROPS III)—Notes(Optional)
January 1,2013 through June 30,2013
Item# Notes/Comments
1 In 1984,the City of Huntington Beach's Park&Acquisition Fund advanced$1,740,834 to the Redevelopment Agency to purchase the Emerald Cove Land.That same year,the Agency sold$4.6M of Certificates of Participation(COPS)to finance the construction of
the Emerald Cove Senior Housing Project.In 2DDD,the HB Public Finance Authority issued$18M of COPS,which was partly used to defease the RDA Emerald Cove COPS,thereby,resulting in the City completely owning the Emerald Cove Project.In May 2009,
the Agency purchased the Emerald Cove Senior Apartments for the sum of$8,483,931,including the bond debt of$5,170,931.Later that year,the Emerald Cove Senior Apartments were sold to Jamboree Housing Corporation(JHC);however,as part of the
agreement,the Agency maintained the remaining debt obligation.
2 In order to reduce the interest expense owed on the loan and to comply with the property tax sharing requirements contained in the Second Implementation Agreement to the Amended and Restated DDA,approved February 5,2DD1,the Agency is electing to make
the annual enforceable obligation payment from the property lax distribution to be received from the County in January 2013.
3 Amount requested includes reserve to meet debt service due as permitted by Health and Safely Code Section 34171(A)as amended by AB 1484.
4 Amount requested includes reserve to meet debt service due as permitted by Health and Safety Code Section 34171(A)as amended by AB 1484.
5 Amount requested includes reserve to meet arbitrage calculation expenses related to the 2DD2 Tax Allocation Refunding Bonds for the calendar year 2D13 as permitted by Health and Safely Code Section 34171(A)as amended by AB 1484.
6 Amount requested includes reserve to meet arbitrage calculation expenses related to the 1999 Tex Allocation Refunding Bonds for the calendar year 2013 as permitted by Health and Safety Code Section 34171(A)as amended by AB 1484.
7 Arbitrage payment due per the requirements of the Tax Certificate for the 2002 Tax Allocation Bonds.
8 Amount requested includes reserve to meet fiscal agent expenses related to the 1999 Tax Allocation Refunding Bonds for the calendar year 2013 as permitted by Health and Safety Code Section 34171(A)as amended by AB 1484. 0
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9 Amount requested includes reserve to meet fiscal agent expenses related to the 2002 Tax Allocation Refunding Bonds for the calendar year 2013 as permitted by Health and Safety Code Section 34171(A)as amended by AB 1484. -1
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10 Per Section 3 of the ContinuingDisclosure Certificate for the 2DD2 Tax Allocation Bonds,the Agency is required to prepare and provide a Continuing Disclosure Report on each April 30th.The Agency Is in the process of extending its current contract with Harrell& �•
9 Y� q P P P 9 P P 9 Y P 9� �
Company Advisors. Amount requested includes reserve to meet bond-related obligation due as permitted by Health and Safety Code Section 34171(A)as amended by AB 1484. C_}
11 Per Section 3 of the Continuing Disclosure Certificate for the 1999 Tax Allocation Bonds,the Agency is required to prepare and provide a Continuing Disclosure Report on each April 30th.The Agency is in the process of extending its current contract with Harrell& W
Company Advisors. Amount requested includes reserve to meet bond-related obligation due as permitted by Health and Safely Code Section 34171(A)as amended by AB 1484. 0
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12 Amount requested includes reserve to meet debt service due as permitted by Health and Safety Code Section 34171(A)as amended by AB 1484. IZ
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13 Section 1D8 loans are offered by the U.S.Department of Housing and Urban Development's(HUD)Community Development Block Grant(CDBG)program. The Agency's Section 108 loan is connected with the 2000 public offering by HUD. Amount requested (D
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includes reserve to meet debt service due as permitted by Health and Safely Code Section 34171(A)as amended by AB 1484. p
14 To ensure compliance with the property tax sharing requirements contained in the Properly Tax Sharing Agreement under the Disposition and Development Agreement(DDA)and Sixth Implementation Agreement for the Strand project's parking structure authorize z
on January 20,2009,the annual payment due will be made from the first property tax distribution received in January 2013. O
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15 To ensure compliance with the property lax sharing requirements contained in the Property Tax Sharing Agreement under the Disposition and Development Agreement(DDA)and Sixth Implementation Agreement for the Strand project's parking structure authorize O
on January 20,2009,the annual payment due will be made from the first property tax distribution received in January 2013. 1-
22 The Agency is in the process of extending its current contract with Jessica Lanlham,Esq. N
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23 Contract/Agreement execution date of June 30,2010 is the date of the most recent actuarial valuation report provided by CaIPERS. Valuation report was issued October 2011.
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24 Contract/Agreement execution date of September 3D,2011 is the dale of the most recent actuarial valuation report prepared by Bartel Associates,LLC. Valuation report was issued on August 2,2012. �.
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26 Contract/Agreement execution dale of June 30,2011 is the date of the most recent actuarial valuation report prepared by Bartel Associates,LLC. Valuation report was issued on August 2,2012. - c+
28 The Agency is in the process of extending its current contract with Tierra West.
34 Amounts represents cost incurred for layoff of City employee performing work directly related to the former Redevelopment Agency as per Health and Safety Code Section 34171(d)(1)(C)as amended by AB 1484. Due to employee confidentiality requirements,
specific employee information has not been included,but will be provided under separate cover upon request.
35 Amounts represents cost incurred for layoff of City employee performing work directly related to the former Redevelopment Agency as per Health and Safely Code Section 34171(d)(1)(C)as amended by AB 1484. Due to employee confidentiality requirements,
specific employee information has not been included,but will be provided under separate cover upon request.
36 Amounts represents cost incurred for layoff of City employee performing work directly related to the former Redevelopment Agency as per Health and Safety Code Section 34171(d)(1)(C)as amended by AB 1484. Due to employee confidentiality requirements,
specific employee information has not been included,but will be provided under separate cover upon request.
36 Amounts represents cost incurred for layoff of City employee performing work directly related to the former Redevelopment Agency as per Health and Safely Code Section 34171(d)(1)(C)as amended by AB 1484. Due to employee confidentiality requirements,
specific employee information has not been included,but will be provided under separate cover upon request.
38 Amount represents payment of litigation costs incurred through June 30,2012 forCity of Palmdale et a/.v.Matosantos relating to application for a Temporary Restraining Order pertaining to the June 1,2012 properly tax payments eligible under Health and Safely
Code Section 34171(d)(1)(F)as amended by AB 1484.
39 Legal expenses for Successor Agency compliance with AB 1x 26 and AB 1484 pursuant to Health and Safety Code Section 34171(d)(1)(F)as amended by AB 1484,which stales:"Contracts oragreements necessary for the administration or operation of the
successor agency,in accordance with this part,including,but not limited to,agreements concerning litigation expenses related to assets or obligations,settlements and judgments...".
40 Consulting services for Successor Agency compliance with AB 1x 26 and AB 1484 eligible for reimbursement pursuant to Health and Safety Code Section 34171(d)(1)(F)as amended by AB 1484,which states"[Enforceable obligations include]Contracts or
agreements necessary for the administration or operation of the successor agency,in accordance with this part,including,but not limited to,agreements concerning litigation expenses related to assets or obligations,settlements and judgments..."
41 As per Department of Finance instruction,amounts listed represent relocation and properly acquisition costs as per Health and Safety Code Section 34171(d)(1)(B),which states"[Enforceable obligations include]Loans of moneys borrowed by the redevelopment
agency for a lawful purpose,to the extent they are legally required to be repaid pursuant to a required repayment schedule or other mandatory loan terms."
42 As per Department of Finance instruction,amounts listed represent relocation and property acquisition costs as per Health and Safely Code Section 34171(d)(1)(B),which states."[Enforceable obligations include]Loans of moneys borrowed by the redevelopment
agency for a lawful purpose,to the extent they are legally required to be repaid pursuant to a required repayment schedule or other mandatory loan terms."
43 As per Department of Finance instruction,amounts listed represent relocation and property acquisition costs as per Health and Safety Code Section 34171(d)(1)(B),which states"[Enforceable obligations include]Loans of moneys borrowed by the redevelopment O
agency for a lawful purpose,to the extent they are legally required to be repaid pursuant to a required repayment schedule or other mandatory loan terms." <
fD
44 As per Department of Finance instruction,amounts listed represent relocation and properly acquisition costs as per Health and Safety Code Section 34171(d)(1)(B),which states'[Enforceable obligations include]Loans of moneys borrowed by the redevelopment
agency for a lawful purpose,to the extent they are legally required fo be repaid pursuant to a required repayment schedule or other mandatory loan terms."
45 As per Department of Finance instruction;amounts listed represent relocation and property acquisition costs as per Health and Safety Code Section 34171(d)(1)(B),which states'[Enforceable obligations include]Loans of moneys borrowed by the redevelopment
agency fora lawful purpose,to the extent they are legally required to be repaid pursuant to a required repayment schedule or other mandatory loan terms." c+
CW
46 As per Department of Finance instruction,amounts listed represent relocation and property acquisition costs as per Health and Safety Coda Section 34171(d)(1)(B),which steles"[Enforceable obligations include]Loans of moneys borrowed by the redevelopment O
agency for a lawful purpose,to the extent they are legally required to be repaid pursuant to a required repayment schedule or other mandatory loan terms." Sv
Z
47 As per Department of Finance instruction,amounts listed represent relocation and property acquisition costs as per Health and Safety Code Section 34171(d)(1)(B),which stales"[Enforceable obligations include]Loans of moneys borrowed by the redevelopment O
agency for a lawful purpose,to the extent they are legally required to be repaid pursuant to a required repayment schedule or other mandafory loan terms."
fD
48 As per Department of Finance instruction,amounts listed represent relocation and property acquisition costs as per Health and Safety Code Section 34171(d)(1)(B),which states"[Enforceable obligations include]Loans of moneys borrowed by the redevelopment to
agency for a lawful purpose,to the extent they are legally required to be repaid pursuant to a required repayment schedule or other mandatory loan terms." O
Z
49 As per Department of Finance instruction,amounts listed represent relocation and property acquisition casts as per Health and Safety Cade Section 34171(d)(1)(B),which states"[Enforceable obligations include]Loans of moneys borrowed by the redevelopment O
agency for a lawful purpose,to the extent they are legally required to be repaid pursuant to a required repayment schedule or other mandatory loan terms."
N
50 See breakdown of administrative expenses in the Administrative Budget for the period covering January 1,2013-June 30,2013. CD
1--r
RPTTF To the extent RPTTF is not available to a an enforceable obligation,then the Successor Agency is authorized to make payments on an enforceable obligation from an other funds it me have available,if any,at the time a payment is to be made, N
PY 9 9 Y PY Y Y Y PY I
Column O
N
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X
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Name of Successor Agency: Huntington Beach Red—Wum,nt Agency Success.,Agency-
County: Orange
Pursuant to Health and Safety Code section 34186(a)
PRIOR PERIOD ESTIMATED OBLIGATIONS vs,ACTUAL PAYMENTS
RECOGNIZED OBLIGATION PAYMENT SCHEDULE(ROPE 1)
January 1,2012 through June 30,2012
LMIHF Bond Proceeds Reserve Balance Admin Allowance RPTTF Other
Pa,/Ferm Line Project Name Debt Obligation Payee Descri tien/Proect Scope Proect Area Estimate I Actual Estimate Actual Estimate Actual Estimate Actual Estimate Actual Estimate Actual
Grand Total :`'::.. - 7. -1.679,564 5 98,810 5 _ $ _ : _ j. _ : .250000 5 250000 5 7269.650 5 --6,215092 5 5:'." 172.661
Land Sale Emerald Cove COHB Park A&D Fund Legally Binding Operative Agreement
Principal Amount-$1,740 834,Interest
RaWe 3,61%,Debt Incurred an May 18.
Warm A 18 20.9 Merged
Main-Pier Purchase Loan Repayment Hewing Aultwrily Legally Binding anti Enforceable Agreement
ter Properly AN I,Itlen ter Ih,Mala-Pier
2JFermA 1 Pre,ct Mer ad
Hyatt Regency Huntington Beach Robert Mayer Corporation Di.pealth-and Development Agreement
Project approved on September 14,1998 for the
2JF.-A 2 YYalertronl D-ala mant Mer nd 38B,628 368,628
2DD2 Tax Allocetien Refunding Bond* Bank of New York Truett Tax Allocation Bond,Debt Service
2JFormA 3 Co. Pa mente Merged 1835.738 1835.738 A
1999 Tex Allocation R*funtling Bonds Bank of New York Trust Tax AJI—b—Bends Debt Service
2JFermA 4 Co. Pa manta Misread 748,08e 745743 A 2,345 18)
2002 Tax Allocation Refunding Bonds Arbitrage Compliance Tax Allocation Banda arbitrage rebate
2JFormA 5 Specialist colculatlen-Fori—I IRS Com Ilanca Merge 500 500 A
1999 Tax Allocation Refunding Bend, Arbitrage Compliance Tax Allocation Bends arbitrage rebate
XF.-A 8 S eciallet calculation-Federal IRS Cem Ilanca Merged 500 500
2D02 Tax Albcetien R*funtling Bond* Internal Revenue Service 15th Year Arbitrage Rebate Payment
2JFormA 7 Merged 2002 Tax Allocation Refunding Bonds Bank of New York Mellon Tax Allocation Bonds-Paymanlle Fiscal
2/FarmA 6 ant Merged 1,537 1537 A
1999 Tax Allocation Refunding Bond. Bank of New York Mellon Tax Alteration Bend*-Payment le Fiscal
2JFormA 9 Apart Merged 648 B48
2DD2 Tax Allocation ROunding Benda AMBAC Bank of A—I..Mealer Rapurch..e
2JFormA 1a A ravmvnt ter Debt Service Resarv. Merged 3,000 3000
2002 Tax Allocation Refunding Banda Harrill&Company Preparation and filing of Continuing
AdA....LLC made—Annual R,Pens and Material
2/FormA - 11 Event Nefices Merged 250 275 A
1999 Tax AIIocalien Refunding Bend, Hornell&Company Preparation and filing of Continuing C
Advisere,LLC Disclosure Annual Reports and Material
2JF.HnA 12 Event Not— Maniac! 1,525 1500 A "5
HUD Section 106 Infresb-h re Leon Bank of New York Mellon Legally binding and anforcaable Ivan In
ter Hy.lf/Hilbn Properties agreement with the U.S.0e panmantot
Housing anti Urban Development ter capital
2JFormA 13 m..te Merged 410.350 410350 A
HELP Bowen Court California Housing Finares Full payment of lean borrowed by Agency
Authority ter Senior Rental Complex from the State of C'f'
XFormA 14 California Merged
Strand Hotel and Mi.*d-Use Project, DIM Group,LLC property Tax Storing Agreement under the W
Parking&Intreebuclure DlsPeolb-and Davalepment Agreement p
(DDA)for development of hotel,retail,
restaurant,and public parking etruch re.The
Implementation of tiro DDA entl the Sixth
Impt—nletton Agreement vsn enlerod Q'
I.frcm June 1999 W November 2008.
3/FormA 1 Mar etl 877,903 677.903 D �J
Strentl Project Atltlglsnal Parking CIM Group,LLC Pre party Tax Sharing Agreement untler the (D
Disposition entl Development Agreement (A)
(DDA)and Sixth Implagonletien O
Agreement for the Strand pmjacta parking
structure aulu.n.al on January 20,2009,
3/FormA 2 Merged � 49578 49578 D Z
Pacific City - Maker Properties Owner Parbdpafion Agmamentapprovad -
en Ocleb*r 16.200B for fubsa cl—lepmant a
eta 3lacre its I...bid at Pacific C...I
Highway and First Streetand financed by (V
FFo1m 3 tox aU..1i ro. Merged _ - 0
C—rant Monitoring Obligations,of Housing Authority Stotulery obrgatians for hou,ing
Heusina Authority aaerd1bility.preductisn,reporting and ~
4 m Ilanceaa arGovarnmeulCede. Mar etl 229,9ol 195333Heu.ing Authergy Coven.nt Kayser Merabn Sletuleryebrg ivi ter Housing reporting,5 monilerin er AB 9B7 auditi and ce Ilanca Mar vd 150,OOo 55198 0
Succa—,Agency compliance and Kane Balimer entl Legal cesleleensure Successor Agency rV
3/FormA Bmonlledn srA81X26 Berkman mllance WiMAB i%26 Merged 88651 68,651 13993 C
hid, Wide,aletementand Wide,Glnl&O'Connell Indepandantfinanclalstotement entl
cemplience audit LLP compliance of the agency in accordance m
with Government Auditing Standard, k
Statement an Auditing Stan side(SAS)No.
3/Ferm A 7 117."Com lianca ME
Merged - 5,042
Successor
Agency compliance per AS Key— Legally binding entl anbrc.abie agreement
1%26 for-nbn..d stlminletratien and operetien -
3JFormA B of
Suc...serA enc Merged 35,5B9 35,589
lam'
LMIHF Bond Proceeds Reserve Balance Admin Alloyvance RPTTF Other -
Is
a/Form Line Project Name/Debt Obli elion Payee Description/Project Scope Pro act Area Estimate Actual Estimate Actual Estimate Actual Estimate Actual Estimate Actual Estimate Actual
Affordable Housing Compliance Amerin.b.nal Statutory obligation for housing oempliance
pursuant fo the requirements of es pureuentto the requirements of
Seotlon 33413(b)(4)and 33490(a)(2) Section 33413(b)(4)and 33490(e)(2)and
and(3)of Ma California (3)el the California
Community Redevelopment Law, Community Rod...I,pmant Law,Health
Health and Safety Code Section and Safety Code Section 33000,at seq.
33000,at.eaq.Covenant monitoring -
4/Form A 1 o.,AS BB7. Merged 75.000 27.500
Affordable Housing Compliance Kane Balmer and Statutory obligation for legal.compliance
pursuant fo the requirements of Berkman and operations of H...irg Authority
Section 33413(b)(4)and 33490(a)(2) punuard to the b req.kam.nof Secton
and(3)of the California 33413(b)(4)and 33490(a)(2)and(3)of the
Community Redevelopment law, Califs mia Community Redevelopment Law,
Health end Safety Cede Section Health and Safety Code Section 33000,at
33000,at am.Covenant monitoring seq. .
4/FormA 2 to.,AS 987. - Merged I 150,D00 13.309
Repeymentof SERAF Debt Obligation Housing Authority Legally enforceable obligation for SERAF
4/FormA 3 2009 Loan repayment Mer etl
Repaymanlof SERAF Dabt Obligation Housing Authority Legally enforceable obligation for SERA F
41FormA 4 2010 Loan repayment Met etl
Abdalmudl Owner Participation Abdalmudi Development Dwner Participation Agr.ement/Renl
Agreement/Rent DiBerenlial Company Differential Agreement approved an May 28.
Agraamwnt 1991 for Ma development of the three slaty
building at Me Dce,nview Prom...do.The
Third Implementation Amendment fook
effect on November 21.1994.
4/FormA 5 Mar ad 4,312 1468
Covenant enforoemanl for Afford,bla Greo.Jo,Esq Staedory obligation for legal compliance and
_ housing projects for the purpose of eP.raliono of Housing Authority pursuant to
seeing.Improving,and preserving Me requirements of Section 33413(b)(4)and
the
rCity*.supply
.1 1..and moderate 33490(a)(2)and(3)of Me California
incom,housing pursuant to the Community Radovelopment Law,Health
requirements of Section 33413(b)(4)- antl Safety Coda Section 33000.at seq.
and 33490(a)(2)and(3)of the
California Community Redevelopment
L...Health and Safety Code Section
33000.at seq.
4/For.A 1 7 1 Merged - 40,236 20.524 Q
Unfunded C WERS Pension Liabilities CeIPERS Unfunded CeIPERS penalon obligation as -
par CeIPERS eoWarial valuation ae of June
4/FormA 8 30 20to. rd - 121908 llUnfundedSupplemental Retirement US Bank Unfunded actuarial accmad liability ae of
Uabilitiee September 30.2011 as par actuarial4/Form A 9 v.Iuab.n b ADN Cansultin,Inc. - 38,603 HPublic Agency Retlremant Systems Pacific Lib ins locally enino-bis retiramsntobligomn for(PARS)Notae Payable eady ratlromanl incentive pmprem andq/FormA 10 Incor crated. -
UnfundedDPEBLIebilitiav C.IPERS/CERBT Unfunded acWerlaiemmad liability es of W
Jura W.2011 as par ADN Consulting.inc.
4/FarmA 11 Merged 8,296 H 0
Dbligation for unused employee City employees directly Obligation for unused employee General Q1
General Les,,eamad and vaebd Involved In Housing and Leave earned and vested a,per MOU,and
Redevelopment pr.jecta AS TK26 Q
4/FormA 12 and edmini,heli.n M.M.d - 7,162
Succomor Agency Compliance Nagasaki and Aa...let.. Approlml and reel estate consultant
rFA
13 Mar ad 3,000Succ,aeorAg. yCompliancepar H Tams West Financial and Real,etato oensuhant
14 6S Cede 33433 Mer ed 10000 25824Legally enforceable obligation ee Par We Go— Legally enfo...We Wibon reimbursement O
Memorandum of Understanding with ban.fil ae per MO U and AS IX26
15 bar.Inl unit Mer ed 1500 1500VNldlife Cora Canter City of Huntington Beach Advance from City on oenatructien of O
Conaa,,ncy Grant funded block wall antl Southeast
1 emociated landua in Coastal 27841 N
Openativa Agreement for Me City of Huntington Beach Loan repayment for advance made an
Huntington Beach Redevelopment capital projacta in FY 2004/05 Southeast - C)
5/FormA 2 Pro'cl Coastal 21,219 I--s
Assssment for AE9 Property Tax Von Horn Consulting Assessment for AIRS Property Tax Vvluation Southeast N
5/FarmA 3 Valuation C...let 5,000 - )
Emerald C.-2010 Son-A Lease US Bank Emerald Cove 2010 San,,A Lease C:)Revenue Refunding Bonds Revenue Refunding Bond,Debt Service N
8/F.rm a Payments Mer.d 404.504 913,810 305,954 E
Bella Tana Perking Inirmtmcture Belle Tema Associate,LLC Property Tax Sharing Agreement required
Property Tex Sharing Agreement under Me farms of the Owner Participation I�l
Agreement(dated 1DOMDO)and Second )(
Implementation Agreement(dated
911712007)for the development of the
Huntington Center(Bela Term)
8/FermB Mer etl 1,275000 G 1,275,000 G _
Bela Terra Phase ll STDJM Phase ll Affordable Housing Agreement approved an s
Associate.(DJ M) October 4,2010 for conabucti.n of a 467
mixed,..unit project Project is cumonby
under construction and financed!by property
8/Form8 la..1loczSon.. Merged n
LMIHF Bond Proceeds Reserve Balance Admin Allowance RPTTF Other
pfform
Line Pro'ect Name l Debt Obligation Pay,, Descri tioNPraect Scope Project Area Estimate Actual Estimate Actual Estimate Actual Estimate Actual Estimate Actual Estimate Actual -
EnfomamentolSuccesaorAgency Su-aae,r Agenw Su-aeaor Agency agr i.Whativ.
mmpil: end monlwringper AB obligations relating lu maintaining p,ymants
1X28 enforceable oblig,d,n,and other _
1 activities as required b AB 1X2B Merged 145.760 145.760 165.474 IF)
Enforoemantof Successor Agency Su-e.sor Agency Su-eseor Agency administrative
-mpl`*nu end—niGnng per AB obligations relating to maintaining paymenta
1X26 on enforceable obligation.and other Southeast
Worm C 2 ectivitl... re uired by AB 1X25 Coastal
Pau Through Agnemenb Orange County,Variant Pre and Poet AB129D ttatufory payments
(E,tima`*d)"' School Diebicts,and City or mandated by Hsallh end Safety Coda
7/Farm D 1 Huntington Beach HSC Secban 33607 Merged 2.640000 207.428
Pass Through Agre,menb Dr,nge County,Vado- Poat AB1290 ataWfory payment mandated
(E.b—Wd)"' Schaal Debtors.rand City or by Health end Safety Code(HSC)Section Southeast
7/Form D 2 HB 33607 Coastal 13.DOD
Notes:
A Actual Inciudas ail debt eeMca and enforceable obligations paynnenle made from the December 2011 property taz a menL
B "Othef'funtlin t onsleb of lntsmst-rned an cash held with tens". -
C Amount re rexntsua moot of fiti etion cosh incurred dvo hJune 30,2012 for Cityof Palmdale et al.v.McGaenfosreletin Ge lirstion lore Tam ra Restralnln Order er`*ini
fo the Jun,1,2012 ro tax a men`*eli ible uudar Htaith and Sale Code Section 34171 d/ F ae amended b AB/4B4.
ID Due ta the 32.3 mltllan ehorte a In the Juna 1st ro taz a mtnt ell or a ortlon o1 this enbrraebit o; ahon a man[was made from the December 2011 r tax distribution.
Due fo the elimination o!the 20%houain setasitle a ui menL debt earvlu a mane ou`*Gndin (or tht Jul-0ecember an d are antic aGd ta the funded withFActual edminiatrativee emaa for me eriotlfotala 54154741ncludin amounb Nat hatlta be char adtaother funds.
Dn Me ROP$a Quad for the Janus June 2012 enotl this obli anon was artoneouel Rated es!undd with Other Revenue Low and Moderete Income Housin Funds.
Par the terms of the Second Ira Iernantation A re ment ta the Bella Terra Dwnar Pabol etion A re ment a roved on Se tember 17 2rX17 all n al and Interest a menbre ta be made sole)ham Available SiGleanerabd Pro a Tax Increment Thb,oversi ht waa-netted on aubm u,nt ROPS eubmitGd G the Cvarti ht Board and Da ertrn-t of Fin,nce.
The A e Included pension a men`*end other tli ibG retirement b.neti`*e0owable under Health and sole Coda S,c6on 34173 tl 1 C e enforceable obit ations on its
Janus June 2012 ROPS.The c has Included actual emo un`* old for these obli ations,
C)
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Oversight Board
Res. No. 2012-02
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF HUNTINGTON BEACH )
I, JOAN FLYNN, Secretary of the Huntington Beach Oversight Board of
the Successor Agency of the Former City of Huntington Beach Redevelopment Agency,
Huntington Beach, California DO HEREBY CERTIFY that the foregoing resolution was
duly adopted by the Huntington Beach Oversight Board of the Successor Agency of the
Former City of Huntington Beach Huntington Beach Redevelopment Agency at a
meeting held on August 23, 2012 and that it was so adopted by the following vote:
AYES: Board Members: Hansen, Carchio, A. Dunn, Fritzal
NOES: Board Members: None
ABSENT: Board Members: L. Dunn, Delgado
RECUSE: Board Members: Bone
S etary of the Huntingt Beach
Oversight Board of the Successor
Agency of the Former City of
Huntington Beach Redevelopment
Agency Huntington Beach, California