HomeMy WebLinkAboutSuccessor Agency - 2012-01 SUCCESSOR AGENCY
RESOLUTION NO. 2012-01
A RESOLUTION OF THE HUNTINGTON BEACH REDEVELOPMENT AGENCY
SUCCESSOR AGENCY ADOPTING THE RECOGNIZED OBLIGATION PAYMENT
SCHEDULE FOR THE PERIOD OF JANUARY 1, 2013 THROUGH DUNE 30, 2013
WHEREAS, the Huntington Beach Redevelopment Agency ("Redevelopment Agency")
was a redevelopment agency in the City of Huntington Beach ("City"), duly created pursuant to
the California Community Redevelopment Law (Part 1 (commencing with Section 33000) of
Division 24 of the CaliforniaHealth and Safety Code) ("Redevelopment Law");-and.
The City Council has adopted redevelopment plans for the City's redevelopment project
areas, and from time to time, the City Council has amended such redevelopment plans; and
The Redevelopment Agency was responsible for the administration of redevelopment
activities within the City; and
AB xl'26 ("AB 26") and AB x127 ("AB 27")were signed by the Governor of California
on June 28, 2011, making certain changes to the Redevelopment Law, including adding Part 1.8
(commencing with Section 34161) and Part 1.85 (commencing with Section 34170) ("Part 1.85")
to Division 24 of the California Health and Safety Code ("Health and Safety Code"); and
The California Redevelopment Association and League of California Cities filed a
lawsuit in the Supreme Court of California (California Redevelopment Association, et al. v.
Matosantos, et al., Case No. S 194861) alleging that AB 26 and AB 27 were unconstitutional;
and
On December 29, 2011, the Supreme Court issued its opinion in the Matosantos case
largely upholding as constitutional AB 26, invalidating as unconstitutional AB 27, and holding
that AB 26 may be severed from AB 27 and enforced independently; and
The Supreme Court generally reformed and revised the effective dates and deadlines for
performance of obligations under Health and Safety Code Part 1.85 of AB 26 arising before May
1, 2012 to take effect four months later, while leaving the effective dates or deadlines for
performance of obligations under Health and Safety Code Part 1.8 of AB 26 unchanged; and
As a result of the Supreme Court's decision, and on February 1, 2012, all California
redevelopment agencies were dissolved, successor agencies were established as successor
agencies to the former redevelopment agencies pursuant to Health and Safety Code Section
34173, and successor agencies are tasked with paying, performing and enforcing the enforceable
obligations of the former redevelopment agencies and winding down the affairs of the former
redevelopment agencies; and
The City Council adopted Resolution No. 2012-01 on January 9, 2012, pursuant to Part
1.85, electing for the City to serve as the successor agency to the Redevelopment Agency upon
the dissolution of the Redevelopment Agency under AB 26 ("Successor Agency"); and
SUCCESSOR AGENCY Resolution No. 2012-01
As part of the FY 2012-2013 State budget package, on June 27, 2012, the Legislature
passed and the Governor signed Assembly Bill No. 1484 ["AB 1484," Chapter 26, Statutes
2012]. Although the primary purpose of AB 1484 is to make technical and substantive
amendments to AB 26 based on issues that have arisen in the implementation of AB 26, AB
1484 imposes additional statutory provisions relating to the activities and obligations of
successor agencies and to the wind down process of former redevelopment agencies; and
Health and Safety Code Section 34179 of AB 26 as amended by AB 1484 establishes a
seven (7) member local entity with respect to each successor agency and such entity is titled the
"oversight board." The oversight board has been established for the Successor Agency
(hereinafter referred to as the "Oversight Board") and all seven (7) members have been
appointed to the Oversight Board pursuant to Section 34179. The duties and responsibilities of
the Oversight Board are set forth in Health and Safety Code Sections 34179 through 34181 of
AB 26 as amended by AB 1484; and
Pursuant to Health and Safety Code Section 34177 of AB 26, the Successor Agency (i)
prepared its draft Recognized Obligation Payment Schedule ("ROPS") by March 1, 2012, (ii)
adopted the draft ROPS on February 15, 2012 for the period ending June 30, 2012, as modified
administratively by the Executive Director, (iii) submitted the draft ROPS to the State of
California Controller's Office and the State of California Department of Finance by April 15,
2012 for the period of January 1, 2012 through June 30, 2012, (iv) amended the draft ROPS as
the first ROPS for submission to the State Controller's Office and the Department of Finance by
April 15, 2012 and revised the ROPS to reflect the time period of January 1, 2012 through June
30, 2012, and (v) adopted the second ROPS covering the period from July 1, 2012 through
December 31, 2012, and
Pursuant to Health and Safety Code Section 34177(m) of AB 26 as amended by AB
1484, the Successor Agency is required to submit the third ROPS for the period of January 1,
2013 through June 30, 2013, after its approval by the Oversight Board, to the Department of
Finance and the County Auditor-Controller no later than September 1, 2012; and
The third ROPS covering the period from January 1, 2013 through June 30, 2013 is
attached to this.Resolution as Exhibit "A;" and
If adopted by the Successor Agency, the third ROPS shall thereafter be submitted to the
Oversight Board for review and approval. In this regard, Health and Safety Code Section
34177(1)(2)(B) of AB 26 as amended by AB 1484 requires the Successor Agency to submit a
copy of the third ROPS to the County Administrative Officer, the County Auditor-Controller,
and the Department of Finance at the same time that the Successor Agency submits the third
ROPS to the Oversight Board for approval; and
Pursuant to Health and Safety Code Section 34177(1)(2)(C) of AB 26, a copy of the
approved third ROPS shall be submitted to the County Auditor-Controller and both the State
Controller's Office and the Department of Finance and shall be posted on the Successor
Agency's internet website; and
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12-3431/92431
SUCCESSOR AGENCY Resolution No. 2012-01
Pursuant to Health and Safety Code Section 34177(m)(1) of AB 26 as amended by AB
1484, the Successor Agency shall submit a copy of the third ROPS to the Department of Finance
electronically and the Successor Agency shall complete the third ROPS in the manner provided
by the Department of Finance; and
Pursuant to Health and Safety Code Section 34183(a)(2) of AB 26 as amended by AB
1484, the County is required to make a payment of property tax revenues (i.e. former tax
increment funds) to the Successor Agency by January 2, 2013 for payments to be made toward
recognized obligations listed on the third ROPS for the period of January 1, 2013 through June
30, 2013; and
Pursuant to Health and Safety Code Section 34177(1)(3) of AB 26 as amended by AB
1484, the ROPS shall be forward.looking to the next six (6) months; and
According to Health and Safety Code Section 34177(l)(1) of AB 26 as amended by AB
1484, for each recognized obligation, the ROPS shall identify one or more of the following
sources of payment: (i) Low and Moderate Income Housing Funds, (ii) bond proceeds, (iii)
reserve balances, (iv) administrative cost allowance, (v) the Redevelopment Property Tax Trust
Fund but only to the extent no other funding source is available or when payment from property
tax revenues is required by an enforceable obligation or by the provisions of Part 1.85 of AB 26
as amended by AB 1484, and (vi) other revenue sources, including rents, concessions, asset sale
proceeds, interest earnings, and any other revenues derived from the former Redevelopment
Agency as approved by the Oversight Board in accordance with Part 1.85 of AB 26 as amended
by AB 1484; and
It is the intent of AB 26 as amended by AB 1484 that the ROPS serve as the designated
reporting mechanism for disclosing the Successor Agency's bi-annual payment obligations by
amount and source and that the County Auditor-Controller will be responsible for ensuring that
the Successor Agency receives revenues sufficient to meet the requirements of the ROPS during
each bi-annual period; and
Notwithstanding the provisions of Health and Safety Code Section 34177(a)(1) of AB 26
as amended by AB 1484, agreements between the City and the Redevelopment Agency have
been included in the ROPS because, among other things, they have been validated by operation
of law prior to the Governor's signature of AB 26 on June 28, 2011; and
The proposed third ROPS attached to this Resolution as Exhibit "A" is consistent with
the requirements of the Health and Safety Code and other applicable law; and
This Resolution has been reviewed with respect to applicability of the California
Environmental Quality Act ('CEQA'), the State CEQA Guidelines (California Code of
Regulations, Title 14, Sections 15000 et seq., hereafter the "Guidelines"), and the City's
environmental guidelines; and
This Resolution is not a "project" for purposes of CEQA, as that term is defined by
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12-3431/82431
SUCCESSOR AGENCY Resolution No. 2012-01
Guidelines section 15378, because this Resolution is an organizational or administrative activity
that will not result in a direct or indirect physical change in the environment, per section
15378(b)(5) of the Guidelines, and
All of the prerequisites with respect to the approval of this Resolution have been met.
NOW, THEREFORE, the Huntington Beach Redevelopment Agency Successor Agency
does hereby resolve as follows:
1. The foregoing recitals are true and correct and are a substantive part of this
Resolution.
2. The adoption of this Resolution is not intended to and shall not constitute a waiver
by the Successor Agency of any rights the Successor Agency may have to challenge the
effectiveness and/or legality of all or any portion of AB XI 26 or AB 1484 through
administrative or judicial proceedings.
3. The Successor Agency's third ROPS, which is attached hereto as Exhibit "A", is
approved and adopted.
4. The Executive Director, or designee, is hereby authorized and directed to: (i)
provide.the third ROPS to the Oversight Board for review and approval and concurrently submit
a copy of the third ROPS to the County Administrative Officer, the County Auditor-Controller,
and the Department of Finance; (ii) submit the third ROPS, as approved by the Oversight Board,
to the Department of Finance (electronically) and the County Auditor-Controller no later than
September 1, 2012; (iii) submit a copy of the third ROPS, as approved by the Oversight Board,
to the State Controller's Office and post the third BOPS on the Successor Agency's internet
website; (iv) revise the third ROPS, and make such changes and amendments as necessary,
before official submittal of the third ROPS to the Department of Finance, in order to complete
the third ROPS in the manner provided by the Department of Finance and to conform the third
ROPS to the form or format as prescribed by the Department of Finance; and (v) take such other
actions and execute such other documents as are necessary to effectuate the intent of this
Resolution on behalf of the Successor Agency.
5. The Successor Agency determines that this Resolution is not a "project" for
purposes of CEQA, as that term is defined by Guidelines section 15378, because this Resolution
is an organizational or administrative activity that will not result in a direct or indirect physical
change in the environment, per section 15378(b)(5) of the Guidelines..
6. This Resolution shall take effect upon the date of its adoption.
7. The Executive Director, or designee, is hereby authorized to make such non-
substantive changes and amendments to the third ROPS as may be approved by the Executive
Director of the Successor Agency and its legal counsel.
8. The Executive Director, or designee, is hereby authorized to revise the third
4
1 2-343 1/8243 1
SUCCESSOR AGENCY Resolution No. 2012-01
ROPS, and make such changes and amendments as necessary, before official submittal of the
third ROPS to the Department of Finance, in order to complete the third ROPS in the manner
provided by the Department of Finance and to conform the third ROPS to the form or format as
prescribed by the Department of Finance.
PASSED AND ADOPTED by the Huntington Beach Redevelopment Agency Successor
Agency at a regular meeting thereof held on the 20th day of Auqust 20
Chairman
REVIE APPROVED: INITIATED AND APPROVED:
Exec v rector Deputy Executive Director
APPROVED AS TO F RM:
t
nrn
Agency Counsel
s
1 2-3 43 1/8243 1
SUCCESSOR AGENCY Resolution No. 2012-01
EXHIBIT"A"
HUNTINGTON BEACH REDEVELOPMENT AGENCY SUCCESSOR AGENCY
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
January 1, 2013 through June 30, 2013
("Third ROPS").
Approved on August 6, 2012
(See Attachment)
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12-3431/82431
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: (714)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
C3
d
1
SUMMARY OF RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Filed for the January 1,2013 to June 30,2013 Period
Name of Successor Agency: Huplirigloii Beach Red evelopmeiilAgancy Successor,Agency
Total Outstanding
Debtor Obligation
Outstanding Debt or Obligation $ 1TB,22B,651
Current Period Outstanding Debt or Obligation six-Month Total
A Available Revenues Other Than Anticipated RPTTF Funding 61500,000
B Anticipated Enforceable Obllgallons Funded with RPTTF 11,a16;as8
C Anticipated Adminlstrative Allowance Funded with RPTTF 38T,4s4
D Total RPTTF Requested B+C
Total Currant Period Outstanding Oebl or Obligation(A+B+C=E)should be the same amount as RoPS rorm six-month total
E Enter Total Slx-Month Anticipated RPTTF Funding(Obtain Trom counfyoudgor,confruuar) T,92i;81T
F Variance E-O= F Maximum RPTIF Allowable should no(exceed TofelAnflcl aced RPTTF Funding
Prior Period(January 1,2012 through June 30,2012) Estimated vs.Actual Pa ments(as required In HSC section 308e(a))
r3 Enter Estimated Obligations Funded by RPTTF(Should be the lass-ofnnanca's approved RPTTF amount Including admin allowance or the actual amount distributed) 7,519,950
H Enter Aclual Obligations Paid with RPTTF 9,215,Og2
i Enter Actual Administrative Expenses Paid with RPTTF 250,000
J Adjustment to Redevelopment Obligation Retirement Fund G- H+I =J 1 054 75@
K Adjusted.RPTTF(The total RPTTF requested shell be adjusted it actual obligations paid with RPTTF are less than the estimated obligation amount.) i 77,27e;1T4
Certification of Oversight Board Chairman:
Pursuant to Section 341T7(m)of the Health and Safety codeema T t e
i hereby certify that the above in a true and accurate Recognized
Obligation Payment Schedule for the above named agency.
N posture Date
i
Name of Successor Agency: Huntin ron Be h RedevelopmentA enc Successor A en
County: O ang ? Dversight Board Approval Date:
RECOGNIZED OBLIGATION PAYMENT SCHEDULE(ROPS III)
January 1,2013 through June 30,2013
Total FundingSource
Outstanding Total Due During
Contract/Agreement Contfact/Agreement Debtor Fiscal Year Bond Reserve -min
Item If Project Name/Debt Obligation Execution Date Termination Date Payee Descri ti--Project Scope Project Area obligation 2012-13 LMI HF Proceeds Balance Allowance RPTTF Other Six-Month Total
'r-Grahil Total 179,228,851' $-7"19,084;581' $-36,500,000 $ ... $__ $'`"r357464° $ :-1.1,915,468 .$"'_'. $"�16772,932
-
Land Sale Emerald Cove May 18,20 99 October 1,2030 COHB Park A&D Fund Legally Binding Operative Agreement Pr nc pal Amount-
$1.740,834,Interest Rates 3.81%,Debt Incurred on May
1 - 18,2009 Merged 5,676,433 442,905 442905 ?442905.
Hyatt Regency Huntington Beach September 14,1998, September 30,2023 Robert Mayer Corporation Disposition and Development Agreement approved on
Project amended February 5, September 14,1998 for the Waterfront Development
2 2001 Merged 5,433057 1,043,146 1043,146 1043146
3 2002 Tax Allocation Refundin Bonds June 19,2002 August 1 2024 Bank of New York Trust Co. Tax Allocation Bonds Debt Service Payments Merged 16,32%113 1,640,838 1,640,938 e:11640,938
4 1999 Tax Allocation Refundin Bonds Janua 12 1999 Au ust 1 2024 Bank of New York Trust Co. Tax Allocation Bonds Debt Service Pa menu Merged 7,472,947 743 289 743,289 743,289
2002 Tax Allocation Refunding Bonds November 17,2010 November 17,2013 Arbitrage Compliance Tax Allocation Bands arbitrage rebate calculation-
5 S ecialis[ Federal IRS Compliance Merged 500 500 500 .500
1899 Tax Allocation Refunding Bonds November 17,2010 November 17,2013 Arbitrage Compliance Tax Allocation Bonds arbitrage rebate calculation-
6 Specialist Federal IRS Com Hance Merged 500 500 500 Soo
7 2002 Tax Allocation Refundtho Bonds June 19 2002 Au ust 1 2016 Internal Revenue Service IRS Arbitra a Rebate Payment Merged 528 754 528,754 528,754 �:'528 754"
82002 Tax Allocation Refundin Bonds June 192002 Au ust12024 Bank of New York Mellon Tax Allocation Bonds-Payment to Fiscal Agent Merged 1,537 1,537 1.537 -`.::A537
9 1999 Tax Allocation Refundin Bonds Janua 12,1999 Au ust i 2024 Bank of New York Mellon Tax Allocation Bonds-Pa merit to Fiscal A ent Merged 848 848 848 ,:-:848'
2002 Tax Allocation Refunding Bonds July 7,2009 July 7,2012 Harrell&Company Advisors,sors Preparafon and fling of Continuing Disclosure Annual
10 LLC Re arts and Mater al Event No
Merged 250 250 250 250,
1999 Tax Allocation Refunding Bonds July 7,2009 July 7,2012 Harrell&Company Adv sors Preparation and filing of Continuing Disclosure Annual
11 LLC Re arts and Materal Event 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 Cove 2010 Series A Lease Revenue Refunding
12 Revenue Refurn n Bonds Bonds Debt Service Pa merits Merged 3,649634 404,932 404,932 404932
HUD Section 108 Infrastructure Loan July 21,2010 August i,2019 Bank of New York Mellon Legally binding and enforceable loan agreement with the
for HyatUHilton Properties U.S.Department of Housing and Urban Development for T.
13 - ca ital m rovements Merged 3,025,000 427512 427,512 427512
Strand Hotel and Mixed-Use Project, June 1999 to November September 30,2033 CIM Group,LLC and Kane Property Tax Sharing Agreement under the Disposition
Parking&Infrastructure 2008 Ballmer and Berkman and Development Agreement(DDA)for development of
- hotel,retail,restaurant,and public parking structure.The
Implementation of the DDA and the Sixth Implementation
Agreement were entered into from June 1999 to
14 November 0008. merged 13,344,723 702,903 702,903 702903-
Strand Project Additional Parking January 20.2009 September 30,2033 CIM Group,LLC Property Tax Sharing Agreement under the Disposition
and Development Agreement(DDA)and Sixth
Implementation Agreement for the Strand projects parking
15 sbucNre author zed on Janua 202009. Merged 1,039,285 49,576 49576 4947,6
Pacific City October 16,2006 FY 2030-31 Makar Properties&Kane Owner Participation Agreement approved on Dctober
Ballmer and Berkman 2006 for future development of a 31-acre site located at
Pacific Coast Highway and First Street and financed by '
1
6 propertytax allocations. Merged 5,520,000 20,000 20,000 20000.
Pacific City-Very Low Income Units October 16,2006 FY 2030-31 Maker Properties 15%affordable housing requirement pursuant to
- Attachment 5 of the Owner Participation Agreement
approved on October 16,2006.Of the 15%required
housing obligation,5%very low nsome housing is to be
developed by the Housing Authority.The Developer is
required to provide the remaining 10%on site.
07
97 1 Merged 6500,000 6500,000 6500000 `�8,500,000
Affordable Housing Compliance Original Agreement July 20,2013 Amerinational Statutory obligation for housing compliance services
pursuant to the requirements of Section effective July 20,2010/ pursuant to the requirements of Section 33413(b)(4)and
33413(b)(4)and 33490(a)(2)and(3)of Amended on July 26,2011 33490(a)(2)and(3)of the California
the California Community Redevelopment Law,Health and Safety Code
Community Redevelopment Law, Section 33000,et.seq.and eligible under Health and
Health and Safety Code Section 33000, Safety Code Section 34171(d)(1)(F)
et seq.Covenant monitoring per AB
18 987 Merged 75,000 75.000 75,000 7"000,
Repayment of SERAF Debt Obligation May 10,2010 FY 2014-15 Housing Authority Legally enforceable obligation for SERAF Loan repayment
19 2009 Merged 3,331 300 -
Repayment of SERAF Debt Obligation May 10,2011 FY 2015-16 Housing Authority Legally enforceable obligation for SERAF Loan repayment -
20 2010 Merged 706.842 -
Abdelmudi Owner Participation- May 28,1991 and December 31,2017 Abdelmudi Development Owner Participation Agreement/Rent Differential -
Agreement/Rent Differential Agreement November 21,1994 - Company Agreement approved on May 26,1991 for the
development of the three story building at the Dceanview
Promenade.The Third Implementation Amendment took
21 effect on November 21,1994. Merged 6,000 T-bo 6,000 a-:t6,000
Covenant enforcement for Affordable February 20,2012 February 20,2013 Jessica Latham,Esq Statutory obligation for legal compliance and operations of
housing projects for the purpose of Housing Authority pursuant to the requirements of Section
increasingr improving,and preserving 33413(b)(4)and 33490(a)(2)and(3)of the California
the Citys supply of low and moderate Community Redevelopment Law,Health and Safety Code
income housing pursuant to the - Section 33000,et.seq.
requirements of Section 33413(b)(4)
and 334901 and(3)of the
California Community Redevelopment
Law,Health and Safety Code Section
22 33000 et se. Mer etl 30,000 30,000 30,000 30000'
Total Funding Source
Outstanding Total Due During
Contract/Agreement Contra ctlAgreem ant Debtor Fiscal Year Bond Reserve Admin
Item# Project Name/Debt Obligation Execution Date Termination Date Payee Description/Project Scope Project Area Obligation 2012-13 LMIHF Proceeds Balance Allowance RPTTF Other Six-Month Total
Unfunded CaIPERS Pension Liabilities As of 6130110 N/A COWERS Unfunded CAPERS pension obligation as per Cel PERS
actuarial valuation as of June 30,2010 with estimated
23 factor increase for FY 12/13 Mer ad 2,674,172 190,951 95,476 `95,476
Unfunded Supplemental Retirement As of 9130111 N/A US Bank Unfunded actuarial accrued liability as of September 30. '
Liabilities 2012 as per actuarial valuation by Bartel Associates,LLC. `
24 Merged 618,160 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 cor,at,, ncentive program and annuity contract with
25 Pacific Life Insuranre In orated. Merged 60,035 19,965 19,965 19.965
Unfunded OPEB Liabilities As of 6130111 NIA CaIPERS/CERST Unfunded actuarial accrued liability as of June 30,2012 as
26 per Bartel Associates LLC. Merged 252.593 12,444 6222 -6222
Obligation for unused employee As of 9130111 audited NIA City employees directly Obligation for Unused employee General Leave earned ,
General Leave earned and vested financial statements involved in Housing and and vested as per MOUs and AB 1X26
Redevelopment projects and
27 administration Merged 124.391 11,460 11460 11460
Successor Agency Compliance per H& May 7,2007 April 30,2010 Tierra West Financial and Real estate consultant
28 S Cods 33433 Merged 30,000 15.000 15,000 �15,000
u
Bella Terra Parking Infrastructure October 2,2000 and September 30,2025 Bella Terra Associates LLC Property Tax Sharing Agreement required under the terms
Property Tax Sharing Agreement September 17,2007 and Kane Ballmer and of the Owner Participation Agreement(dated 101212000)
Berkman and Second Implementation Agreement(dated
911712007)for the development of the Huntington Center
(Bella Tema).Includes legal requirements to enforce " -
29 obligation. Merged 13,847,382 1,210,008 1,210,008 '1,210,008
Belle Terra Phase II October 4,2010 July 1,2036 BTDJM Phase II Associates Affordable Housing Agreement approved on October 4,
(DJ M)and Kane Ballmer antl 2010 for construction of a 467 mixed-use unit project.
Berkman Project is currently un derconstruc'tion and financed by ---
property tax all-bons. des legal requirements to
30 implement obli ation. Merged 27,438,830 - 10,000 10,000
Pierside Pavilion Owner Participation July 6,2009 N/A Pierside Pavilion,LLC and Owner Participation Agreement(OPA)approved on July
Agreement Kane Ballmer end Berkman 6,2009 for the continued redevelopment of the site -
located at 300 Pacific Coast Highway in Downtown _
Huntington Beach.Legal services were incumed lo amend
31 the le all obli ated OPA. Merged 4,000 - 4,000 "4,000
Operafive Agreement for the Huntington Fiscal Year 2004105 October 1,2030 City of Huntington Beach Loan repayment for advance made on capital projects in
Beach Redevelopment Project FY 2004105
32 Southeast Coastal 283,211 21319 21,319 �21319
Assessment for AES Property Tax March 21,2011 March 21,2012 Van Horn Consulting Assessment for AES Property Tax Valuation
33 Valuation Southeast Coastal 5,000 5,000 5,000 �5,000
Payment of costs incurred to fulfilled collective bargaining
Employee termination/layoff costs agreements for layoffstterminations of City employees
relatetl tu dissolution of Redevelopment relating to the dissolution of the Redevelopment Agency Merged& '
34 A enc 9/302011 9/30/2011 Employee 1 Ear He..&Saf Cade S anion 34177(d)1 C) Southeast Coastal 16,393 16,393 16.393 18,393
Payment of costs incurred to fulfilled collective bargaining
Employee termination/layoff costs agreements for layoffstterminations of City employees
related to dissolution of Redevelopment relating to the dissolution of the Redevelopment Agency- Merged&
35 A enc 9/302011 9/302011 Employee 2 per Health&Safe Code Section 34171(d)(1 C Southeast Coastal 24,483 24,483 24,483 24,483
Payment of costs incurred to fulfilled collective bargaining
Employee termination/layoff costs agreements for layoffstterminabons of City employees
related to dissolution of Redevelopment relating to the dissolution of the Redevelopment Agency Merged 8 -
36 A enc 9/302011 12232011 Emplo ee 3 per Health&Safety Code Section 34171(d)1 C Southeast Coastal 75,328 75,328 75,328 75,328
Payment of costs incurred to fulfilled collective bargaining
Employee termi nabon/layaff costs agreements for layoffsttermmabons of City employees
related to dissolution of Redevelopment relating to the dissalubon of the Redevelopment Agency Merged&
37 Agency 9/30/2011 9/302O11 Employee 4 per Health&Safety Code Section 34171(dill C Southeast Coastal 9.728 9,728 9,728 9,728.
Payment of litigation costs incurred through June 30,2012
relating to application for a Temporary Restraining Order
Litigation expenses for City of Palmdale pertaining to the June 1 2012 property tax payments
et el,v Mofosanfos pursuant to Health eligible untler Health and Safety Code Sect on Merged& --
38 and Safe Code Section 34171(d)(1)(F) 7/08/2012 7/8/2015 Kane Ballmer&Berkman 34171(d)1)F as mended by AB 1484 Southeast Coastal 13.993.00 13.993 13,993 13,993
Legal expenses for Successor Agency
oin liance w;th AS I 26 and AS 1484 4;
pursuant to Health and Safety Code Legal expenses to ensure Successor Agency compliance Merged& "
39 Section 34171(d)1 F) 7/0812012 71O2015 iKane Ballmer&Berkman with AB tx 26 and AB 1484 Southeast Coastal 150,000.00 150,000 75.000 75,000
Economic Analysis services related to
Successor Agency compliance vath AB Economic Analysis consulting services to ensure
tx 26 and All 1484 pursuant to Health Successor Agency compliance oath AS 1x 26 and AS Merged&
40 and Safe,
afe Code Section 34171(d)(1)(F) 6/152010 6/152013 Ke ar Marston 1484 Southeast Coastal 200,000.00 200.000 1 1 100,000 106,006
Land and Right-of-way acquisition costs connected vnth
Hunt ngton Center Redevelopment Plan the Gothard Hoover Extens on project and development of
41 develo ment 1987 10/12030 Successor Agency a public storage facilityMerged 4 416 384.00 296 498 296,498 296 498
Main-Pier Redevelopment Project Costs incurred to acquire land within the Main-Pier project '--
42 Phase It 1988 70/72030 Successor A enc ea for Phase II develo ment pro acts Merged 5,150,543.00 345,786 345,786 345,786
Costs incurred to acquire land within the Main-Pier project
Devalopment of Downtown Main-Pier area to implement the construction of parking facilities "'-
43 project area 1988,1990 10/12030 SuccessorA enc with in the Downtown Main-Pier area Mer ed 3,555243.00 238,685 238,685 238685
Total Funding Source
Outstanding Total Due During
Contract/Agreement Contract/Agreement Debt or Fiscal Year Bond Reserve Admin
Item M Project Name/Debt Obligation Execution Date Termination Date Payee Descri tion/Project Scope Project Area Obligation 2012-13 LMIHF Proceeds Balance Allowance RPTTF Other Six-Month Total
Relocation,property acquisition,and other project costs
associated with the Third Block West
Third Block West Condominium/Retail/office project in the Main-Pier -
44 commerciallresidential project 1996 10/1/2030 Successor Agency Redevelopment project area Mer ed 14,971453.00E23,176
1,005,122 1605122
Second Block Alley and Street Property acquisition cost associated vnth the Second
45 Improvement Project 1988 10/12030 Successor A enc Block allay and street improvement project Merged 345,208.00 23,176 :23176
46 Strand Pro ect 1996 10/12030 SuccessorA enc Relocation costs aid to Wind and Sea Surf Sho Mer ed 87,5014005,875 --""5,875
Pieraide HoteVRetaiOParking Structure Relocation costs paid to Terrys Coffee Shop and First47 Project1990,1992 10/i203O SuccessorA enc Interstate Bank Mer ed 407212.00 27,339 27339
Costs related to the relocation,buyout,and demoliton of
Waterfront Commercial Master Site Driftwood and PacificMobile Home Parks related to the
48 Plan 1989,2001 10/12030 SuccessorA enc Waterfront Commercial Master Site Plan Mer ed 16.960908.00 1,138686 1,138,686
Property acquisition costs associated with the Strand
49 Strand Project 1990,1991,1 994,1989 10/1/2030 SuccessorA Agency Pro ect Mer ed 14475,988.00 171,859 .71,859 971 859
50 Enforcement of Successor Agency Various Various Successor Agency.Kane Successor Agency administrative obligations relating to Southeast Coastal 357464 357,464 357,464 357464
Name of Successor Agency: HuntmgtonBeach`Redevelopm "��ent Agency'SuccessorRgency
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 o
the Emerald Cove Senior Housing Project.In 2000,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 5,2001,the Agency is electing to make
the annual enforceable obligation payment from the property tax 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 Safety 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 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.
6 Amount requested includes reserve to meet arbitrage calculation 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.
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.
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.
10 Per Section 3 of the Continuing Disclosure Certificate for the 2002 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&
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.
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&
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.
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.
13 Section 108 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
includes reserve to meet debt service due as permitted by Health and Safety Code Section 34171(A)as amended by AB 1484.
14 To ensure compliance with the property tax 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
on January 20,2009,the annual payment due will be made from the first property tax distribution received in January 2013.
15 To ensure compliance with the property tax 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
on January 20,2009,the annual payment due will be made from the first property tax distribution received in January 2013.
22 The Agency is in the process of extending its current contract with Jessica Lantham,Esq.
23 Contract/Agreement execution date of June 30,2010 is the date of the most recent actuarial valuation report provided by CalPERS. Valuation report was issued October 2011.
24 Contract/Agreement execution date of September 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.
26 Contract/Agreement execution date 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.
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 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 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 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.
38 Amount represents payment of litigation costs incurred through June 30,2012 forCity of Palmdale et al.v.Matosantos relating to application for a Temporary Restraining Order pertaining to the June 1,2012 property tax payments eligible under Health and Safety
Code Section 34171(d)(1)(F)as amended by AB 1484.
39 Legal expenses for Successor Agency compliance with AB 1 x 26 and AB 1484 pursuant to Health and Safety Code Section 34171(d)(1)(F)as amended by AB 1484,which states:"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...".
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 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 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 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."
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 ofmoneys 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."
44 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 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."
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 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."
46 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 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."
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 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."
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
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."
49 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 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."
50 See breakdown of administrative expenses in the Administrative Budget for the period covering January 1,2013-June 30,2013.
RPTTF To the extent RPTTF is not available to pay an enforceable obligation,then the Successor Agency is authorized to make payments on an enforceable obligation from any other funds it may have available,if any,at the time a payment is to be made.
Column
Name of Successor Agency: Huntington Beach RAdavalopment Agency Succaswi�Agency -
County: orange
Pursuant to Health and Safety Code section 34186(a)
PRIOR PERIOD ESTIMATED OBLIGATIONS vs.ACTUAL PAYMENTS
RECOGNIZED OBLIGATION PAYMENT SCHEDULE(ROPS 1)
January 1,2012 through June 30,2012
LMIHF Bond Proceeds Reserve Balance Admin Allowance RPTTF Other
Pa e/Form Line Project Name/Debt Obli anon Payee Descri tion/Project Scope Project Area Estimate Actual Estimate Actual Estimate Actual Estimate Actual Estimate Actual Estimate Actual
Grand Total -` -.-' $-' 1 679 564. $ - a8 610 S _ y _. s $ - 9 -250 000 3 o 000 E 2269 850 S 6 215 092 .3 - - & 172.861
Land Sale Emerald Cove COHB Park A&D Fund Legally Binding Operative Agreement
Principal Amount-&1,740,834,Interest
Rates 3.81%,Debt Incurred on May 18,
1/FormA 1B 2009 Me r ed
Main-Pier Purchase Loan Repayment Housing Authority Legally Binding and Enforceable Agreement
for Property Acquisition for the Main-Pier
ZFormA 1 Proect Merged
Hyatt Regency Huntington Beach Robert Mayer Corporation Disposition end Development Agreement
Project approved on September 14,1998 for the
ZFo-A 2 Waterfront Develo ment Merged 36B,626 368,626
2002 Tax Allocation Refunding Bonds Bank of New York Trust Taz Allocation Bonds Debt Service
ZFormA 3 Co. Pa manta Mar ad 1,635,738 1635,738 IA
1999 Taz Allocation Refunding Bonds Bank of New York Trust Taz Allocation Bonds Deb[Service
ZFonnA 4 Co. Payments Merged 748,088 745743 (A 2345(8)
2002 Tax Allocation Refunding Bonds Arbitrage Compliance Tax Allocation Bonds arbitrage rebate
r2JF.rm 5 S dalist calculation-FaderoIlRS Com liance Mer ed500 500 U19N Taz Allocation Refunding Bonds Arbitrage Compliance Taz Allocation Bonds arbitrage rebate 6S cialis[ calculation-Federal IRS Com liance Mer ed500 52002 Taz Allocation Refunding Bonds Internal Revenue Service 15th Year Arbitrage Rebate Payment 7 Mer ad2002TazAlbeit-Refunding Bonds Bank of New York Mellon Tax Allocation Bonds-Payment to Fiscal 8 ntMe ed 1.537 1,537 (A)
1999 Tax Allocation Refunding Bonds Bank of New York Mellon TazAllocation Bonds-Payment to Fiscal 9 Agent Merged
848 848
2002 Taz Allocation Refunding Bonds AMBAC Bank of America Master Repurchase
ZFonnA 10 merit for Debt Servica Reserve Merged
3.000 3,000
2002 Tax Allocation Refunding Bonds Harrell 8 Company Preparodon and filing of Continuing
Advisors,LLC Disdosure Annual Reports and Material
[2JF.rm 11 Event Notices Mer ed 250 275 (A1999 Tax Allocation Refunding Bonds Hanell&Company Preparation and filing of Continuing
Advisors,LLC Disdosure Annual Reports and Material
12 Event Notices Mer ed 1,525 1,500 IA)
HUD Section 108 Infrastructure Loan Bank of New York Mellon Legally binding and enforceable loan
for Hy itNHihon Properties agreement wiM Me US.Departmentof
Housing and Urban Development for capital 13 merits Mer ad
470,350 410,350 cal
HELP Bowen Court California Housing Financa Fullrpay ant of loan borrowed by Agency
Authority far Senior Rental Complex from Me State of
ZFonnA 14 California Merged -
Strand Hotel and Mized-Use Project CIM Group.LLC Property Tax Sharing Agreement under the
Parking&Infrastructure Disposition and Development Agreement
(DDA)for development of hotel,retail,
restaurant,and pudic parking structure.The
Implementation of the DDA and the SizN
Implementation Agreement were entered
into from June 1999 to November 2008.
3/FormA i Merged 677,903 677,903 (D)
Strand Project Additional Parking CIM Group,LLC Property Tax Sharing Agreement under the
Disposition and Development Agreement
(DDA)and Sixth Implementation
Agreement for the Strand prapc parking
structure autitonzed on January 20,2009.
3/FormA 2 Merged 1 49,576 49576 ID)
Pacific City Maker Properties Owner Participation Agreement approved
on October 16,2DW for future development
of a 31acre she located at Pacific Coast
Highway end Firs[Street and financed by
31FormA 3 property tax allocations. Merged - -
Covenant Monitoring Obligations of Housing Authority Statutory obligations far housing
Housing Authority affordability,production,reporting and
3/FortnA 4 m lianceas rGovemnnr gCode. Merged 229,801 195,333
Housing Authority Covenant Keyser Marston Statutery obligation Par Housing reporting,
3/Form A 5 monifonn r AB 987 auditin and co liance Merged 150.000 55,196
Suceessor Agencycomplianceand Kane Bellmer and Legal costs tome Successor Agency
3/FonnA 6monitor rAB 1X26 Berkman cornliance with AS i X26 Merged 68651 68,651 13,993 IC
Independeritfinim alstatementand Macias Gini&O'Connell Independent financial statement and
compliance audit LLP compliance of the agency in accordance
with Government Auditing Standards
Statement on Auditing Standards(SAS)No.
3 Fomn A 7 1 t7,"Com iance Audi C' Merged - - 5,042
Successor Agency compliance per AB Keyser Marston Legally binding and enforceable agreement
1 X28 far cantinued admin-cation and operation
3/FormA 8 of Successor Agency I
Merged 35,589 35,589
LMIHF Bond Proceeds Reserve Balance Admin Allowance RPTTF Other
Pa /Farm Line Project Name/Debt Obligation Payee Descri tion/Pro act Sco a Pro ect Area Estimate Actual Estimate Actual Estimate Actual Estimate Actual Estimate Actual Estimate Actual
Affordable Housing Compliance Amednational Statutory obligat'on far
housing compliance
pursuant to the requirements of ces pursuant to the requirements of
Section 3M13(b)(4)and 33490(a)(2) Section 33413(b)(4)and 33490(a)(2)and
and(3)of the California (3)of the California
Community Redevelopment Law, Community Redevelopment Law,Health
Health and Safety Cotle Section and Safety Code Section 33000,at seq.
33000,et seq.Covenant monitoring
4/FormA 1 rAH987. Merged 75,000 27500
Affordable Housing Compliance Kane Ballmer and Statutory obligation for legal,compliance
pursuant tc the requirements of Berkman and operations of Housing Authority _
Section 33413(b)(4)and 33490(e)(2) pursuant to the requirements of Section
and(3)of the California 33413(b)(4)and 33490(a)(2)and(3)of the
Community Redevelopment Law, Celifomia Community Redevelopment Law,
Health antl Safety Code Section HeaIM and Safety Cotle Section 33000,at.
33000,et seq.Covenant monitoring ceq' Merged 150,000 13,309
4/FormA 2 rAB 987.
Repeymentof SERAFDeMObligation Housing Authority Legally enorceabla obligation for SERAF
4/Form A 3 2009 Loan re ment Merged -
Repayment of SERAF Debt Obligation Housing Authority Legally enforceable obligation for SERAF
4/FormA 42010 Loan re ment Merged AbtlalmudiOvmerParEdpation Abtlelmutli Development Ovmer Prticipation AgraementfRent
Agraement(Rent Differential Company Differential Agreement approved on May 28,
Agreement 1991for Me development of Ma three story
building at the Oceanview Promenade.The
Third Implementation Amendment took
select on November 21,1994.4/FormA 5Mer ad 4,812[:1
Covenant enforcement for A9ordable Grata Jo,Esq Statutory obligation for legal compliance and
housing projects for the purpose of operations of Housing Authority pursuant b
nione"ing,improving,and preserving the requirements of Section 33413(b)(4)and
Me City"supply of low and mad hate - 33490(a)(2)and(3)off x,California
noome housing pursuant to Me Community Redevelopment Law,Healthrequirements of Section 33413(1,)(4) and Safety Cotle Section 33000,at.seq.
and 33490(a)(2)end(3)oftha
California Community Redavelopment
Law,Health and Safety Code Section
33000,at.seq.
4/FormA 7 Merged 40,236 20524
Unfunded!CaIPERS Pension Liabilities CeIPERS Unfunded Cal PERS pension obligation as
per CWPE RS actuarial valuation as of June 4/FormA a 30 2010. Merged - 121,906 IN)
Unfunded Supplemental Refinement US Bank Untundetl actuarial accruetl liability as o}
Liabilities September 30,2011 as per actuarial
4/Form A 9 valuation b AON Consultin Inc. Merged - 38603 H
Public Agency Retirement Systems Padfic Life Ire Legally enforceable retirement obligation for
(PARS)Notes Payable early retirement incentive program and
annuity contact with Padfic Life Insurance
4/FormA 10 Into rated. Merged
Unfunded OPEB Liabilities CSIPERS/CERBT Unfunded actuarial accrued liability asof
June 30,2011 as per AON Consulting,Inc.
4/FormA 71 Merged - 8,296 (N
Obligation for unused employee Cry employees directly Obligation for unused employee General
General Leave earned and vested involved in Housing and Leave earned and vested as Per MOUs and
Redevelopment projects AB 1X26
4/FormA 12 and administration Mer etl - 7.162
Successor Agency Compliance Nagasaki and Associates Appraisal and reel estate consultant -
4/FormA 13 Merged 3,O00 -
Successor Agency Compliance per H Tierce West Financial and Real estate consultant
4/Form A 14&S Cade 33433 Merged 10,000 25,824
Legally enforceable obligation as Par Luis Gomez Legally enforceable tuition reimbursement
Memorandum of Understanding with benefit as per MOU and AS 1X26
4/FormA 15 bar ainin unit Merged 1,500 1,500
W1ldlife Care Cantar City of Huntington Beach Advance from City on construction of
Conservancy Grant funded blockwall and Southeast
$/FormA 1 ciated landsw in Coastal 27,841 -
OparotivaAgeemaniforMe City of Huntington Beach Loa rel>eymaM for ativanca matle on
Huntington Beach Redevelopment capital projects in FV 2004/05 Southeast
$/FormA 1 2 lPropot Coastal 1 21,219 -
Assasamentfor AES Property Tax Van Hom Consulting Assessment for AES Property Tax Valuation Southeast
5/FormA 3 Valuation Coastal 5,000
Emerald Cova 2010 Series A Lease US Bank Emaraltl Cova 2010 SeriesA Lease
Revenue Refunding Bonds Revenue Refunding Bonds Debt Service
8/FormB Payments Merged 404,564 9861C 305954 (B
Bella Terra Parking Infrastructure Bella Tena Associates LLC Property Tax Sharing Agreement required
Property Tax Sharing Agreement under Ma terms of the Owner Participation
Agreement(dated 1022000)and Second
Implementation Agreement(dated
91172007)for Me tlevelopmant of the
Huntington Center(Bella Terra) 1.275,000 (G
8/Form B Merged 1,275,000 (G)
�BeHa Terra Phase II BTDJM Phase II �Affrdalii Housing Agreement approved on
Associates(DJM) October 4,2010 for construction ofa 467
ixedalse one project Projectis wmintly
under construction and financed by property
8/Farm B tax allocate— Mar ed - -
Lli Bond Proceeds Reserve Balance Admin Allowance RPTTF Other
Pa a/Form Line Project Name/Debt Obligation Pa ee Description/Project Srope Project Area Estimate Actual Estimate Actual Estimate Actual Estimate Actual Estimate Actual Estimate Actual
Enforcement of Successor Agency Successor Agency Successor Agency sdministat"
compliance and monitoring per AB obligations relating to maintaining payments
1 X26 n enforceable obligations and other
61FormC 1 activities asre uiredb ABiX26 Merged 145.760 145760 165,474 (P)
Enforcement of Successor Agency Successor Agency Su.as-,Agency administahva
compliance and monitoring per AS obligations relating to maintaining payments
1 X26 on enforceable obligations and other Southeast
WiFormC 2 a Mca asre uiredb AB 1X26 Coastal -
Pass Through Agreements Orange County,Various Pre and Post AB1290 statutory payments
(Estimated) Sdrool Distrids.and City of mandated by Health and Safety Coda
7/Form D 1 Huntington Beach (HSC)Section 33607 Merged 2,640.000 207,428
Pass Through,ggreemsnts Orange County,Various Post AB1290 statutory payments mandated
(Estimated)"' Sdwol Districts,and City of by Health and Safety Code(HSC)Section Southeast
7/Form D 1 21 HB 33607 Coastal 13,000 -
Notes:
W Actual includes all debt service and enforceable obligations payments made from the December 2011 p,p,rty tax paynnerit.
(B) "Offei"funding so consists of interest earned on cash held with trustee.
C Amount re resarRsura merit of liti ation costs incured throu h June 30,2012 for Cityof Palmdale et W.v.Matosantos relatin to a licatT bra Tem Restreini Order rtainin
to the June 1,2012 ro tax a merits eli ibis under Health and Safe Code Sedion 34171 d 1 F as amended b AB 1484.
D Due to the E2.3 million shorts a in the June 1st propertytax payment all or a ortion of this enforceable obligation a ment was made from the December 2011 r tax distribution.
E Due to the elimination of the 20%housin setasitle re ui merit,debt service a merits ou6landin For the Jul-December dod are antid tad to the funtletl with RPTTF
A""!administiativeexpenses for the period totaled E415474 indudin amounts that had to ba char ed !Iarfunds.
G On the ROPS a roved fortha Janua June 2012 riod,this obli ation was eroneousl listed as funded with Other Revenue Low and Moderate Income HousingFunds.
Per the terms of the Saco rid Im ementation A re ment to the Bella Tema Owner Partici ation A re mente roved on Sa Camber 17,2007,all n al and Interest a menu
re ro be made solel from Available Srte-Genareted Pro Tax Increment.This oversight was corrected on subsequent ROPS submitted to the Oversight Board and De artment of Fin.
(H The induded men Is and other eligible retirement benefits allowable under Health am Safe Code Section 34173d 1 C as enforceable obligations on iW
Jan ua en na 2012 ROPS.ioThe o has induded actual amounts ici forthese obli ations.
Successor Agency
Res. No. 2012-01
STATE OF CALIFORNIA
COUNTY OF ORANGE ) ss:
CITY OF HUNTINGTON BEACH )
I, JOAN L. FLYNN the Clerk of the Successor Agency to the Former
City of Huntington Beach Redevelopment Agency, Huntington Beach, California,
DO HEREBY CERTIFY that the foregoing resolution was duly adopted by the
Successor Agency to the Former City of Huntington Beach Redevelopment
Agency at a meeting held on August 20, 2012 and that is was so adopted by the
following vote:
AYES: Shaw, Harper, Dwyer, Hansen, Carchio, Bohr, Boardman
NOES: None
ABSENT: None
ABSTAIN: None
CI of the Successor Agency to
the Former City of Huntington
Beach Redevelopment Agency,
Huntington Beach, California