HomeMy WebLinkAboutOversight Board - 2013-06 Resolution No. 2013- 06
RESOLUTION NO. 2013- 06
A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR
AGENCY TO THE FORMER REDEVELOPMENT AGENCY OF THE CITY
OF HUNTINGTON BEACH APPROVING THE RECOGNIZED OBLIGATION
PAYMENT SCHEDULE FOR THE PERIOD JULY 1 — DECEMBER 31, 2013
("ROPS IV")
WHEREAS, pursuant to AB x1 26 (as amended by AB 1484, the "Dissolution Act"), the
separate legal entity known as Successor Agency to the Redevelopment Agency of the City of
Huntington Beach ("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 Redevelopment Agency of the City of Huntington Beach; and
The Successor Agency staff has prepared a ROPS for the six-month fiscal period
commencing on July 1, 2013 and continuing through December 31, 2013 ("ROPS IV") which is
attached hereto as Exhibit A; and
Under the Dissolution Act, ROPS IV must be approved by the Successor Agency's
oversight board ("Oversight Board"); and
After reviewing ROPS IV 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 ROPS IV; and
All of the prerequisites with respect to the approval of this Resolution have been met.
NOW, THEREFORE, the Oversight Board of the Successor Agency to the
Redevelopment Agency of the City of Huntington Beach does hereby resolve as follows:
1. The Oversight Board hereby finds and determines that the foregoing recitals are
true and correct.
2. The Oversight Board hereby approves ROPS IV 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 ROPS IV on the Successor Agency
website; (ii) transmit ROPS IV to the Auditor-Controller and the County Administrator of the
County of Orange and to the State Controller and the State Department of Finance ("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 addition, the
Oversight Board authorizes and directs the Successor Agency staff to make such non-substantive
13-3645/91030 1
Resolution No. 2013- 06
revisions to ROPS IV as may be necessary to submit ROPS IV in any modified form required by
DOF, and ROPS IV as so modified shall thereupon constitute ROPS IV as approved by the
Oversight Board pursuant to this Resolution.
4. The Oversight Board does not intend, by adoption of this Resolution, to waive
any constitutional, legal and/or equitable rights of the Oversight Board, the Successor Agency or
the City of Huntington Beach under law and/or in equity by virtue of the adoption of this
Resolution and actions approved and taken pursuant to this Resolution and, therefore, reserves
all such rights of the Oversight Board, the Successor Agency and the City of Huntington Beach
under law and/or in equity.
PASSED AND ADOPTED by the Oversight Board of the Successor Agency to the
Redevelopment Agency of the City of Huntington Beach at a special meeting thereof held on the
twenty-first day of February, 2013.
Chairman
REVI EPPROVED: INIT AND APPROVED:
r �
Ex u ve irector Deputy Pxecutive Director
APPROVED 1A iS /TO FORM:
Agency Counsel
13-3645/91030 2
Resolution No. 2013- o6
EXHIBIT A
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
FOR THE PERIOD JULY 1, 2013 THROUGH DECEMBER 31, 2013
("ROPS IV")
[behind this page]
13-3645/91030 3
SUMMARY OF RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Filed for the July 1,2013 to December 31,2013 Period
Name of Successor Agency: HUNTINGTON BEACH(ORANGE)
Outstanding Debt or Obligation Total
Total Outstanding Debt or Obligation $110,987,863
Current Period Outstanding Debt or Obligation Six-Month Total
A Available Revenues Other Than Anticipated RPTTF Funding $404,931
B Enforceable Obligations Funded with RPTTF $6,525,998
C Administrative Allowance Funded with RPTTF $195,780
D Total RPTTF Funded(B+C=D) $6,721,778
E Total Current Period Outstanding Debt or Obligation(A+B+C=E)Should be same amount as ROPS form six-month total $7,126,709
F Enter Total Six-Month Anticipated RPTTF Funding $5,974,810
G Variance(F-D= G)Maximum RPTTFAIIowoble should not exceed Total Anticipated RPTTF Funding ($746,968)
Prior Period(July 1,2012 through December 31,2012) Estimated vs.Actual Payments(as required in HSC section 34186(a))
H Enter Estimated Obligations Funded by RPTTF(lesserof Finance's approved RPTTF amount Including odmin allowance or the actual amount distributed) $3,428,586
1 Enter Actual Obligations Paid with RPTTF $5,346,465
J Enter Actual Administrative Expenses Paid with RPTTF $167,416
K Adjustment to-Redevelopment Obligation Retirement Fund(H-(I+J)=K) $0
L Adjustment to RPTTF (D-K=L) $6,721,778
Certification of Oversight Board Chairman: Connie Boardman Chair
Pursuant to Section 34177(m)of the Health and Safety code, Name Title
1 hereby certify that the above is a true and accurate Recognized
Obligation Payment Schedule for the above named agency. /s/
Signature Date
Oversight Board Approval Date:
HUNTINGTON BEACH(ORANGE)
RECOGNIZED OBLIGATION PAYMENT SCHEDULE(ROPS 13-14A)
July 1,2013 through December 31,3D33
unding Source
Total Due During
Contract/Agreement ClIsmect/Agreement Total Outstanding Fiscal Year
Item N Project Name/Debt Obll ahon Execution Date Terminahon Date P.'ae Descri tion)Pro ect Scope Project Area Debt or Obli anon 2013-14 Bond Proceeds Reserve Balance Adm in Allowance RPJ1F Other Six-Month Total
$110,967,863 $7,813,26S $0 $404,931 $195,780 $6,525,996 $0 $7,126,709
` 1--land Sale Emerald Can , 5)18/2009- - 10/1)2030 .0,:COHB Park A'&D-Fund ,,,_Leg lly B d ng Oper t Agreement P ipal Amount Merge['- 1. "-:0 0 0
` E - -- -- - - -"0- - -- $1,740834,mberejtR tes381%,Debt l 4 rred on_M y18 -
2 Hyatt Regency Hunts gton Beach Protect 9/14/1998 9/30/2D23 Robert Mayer Corporation Disposition and Development Agreement approved on Merged 5,322,415 734,936 0 0 0 367,049 0 367,049
September 14,1998 for the Waterfront Development
3 2002 Tax All ocatlon Refunding Bonds 6/19/2002 8/1/2024 Bank of New York Trust Co. Tax Allocation Bonds Debt Service Payments Merged 16,028,644 1,619,488 0 0 0 1,340,469 0 1,340,469 -
4 1999 Tax Allocatlon Refunding Bonds 1/12/1999 8)1)2024 Bank of New York Truss Co. Tax Allocation Bonds Debt Service Payments Merged 7,033,802 '732,826 0 0 0 604,144 0 604,144
S 2002 Tax Allocation Refunding Bonds 11)17)2010 11)17)2013 Arbitrage Compliance Specialist Tax Allocation Bonds arh,Uage rebate calculation-Federal Merged 500 Soo 0 0 0 Soo 0 Soo
IRS Compliance
6 1999 Tax Allocation Refunding Bonds 1111712010 11/17/2013 Arbitrage Cornish once Specialist Tax Allocation Bonds arbitrage rebate calcination-Federal Merged 500 Soo 0 0 0 500 0 -500
IRS Compliance
] 2002 Tax Allocation Refunding Bonds 6/19/2002 8)1/2016 Internal Revenue Service. IRS Arbitrage Rebate Payment Merged 0 0 0 0 0 0 0 0
8 2002 Tax Allocation Refunding Bands 6/19/2002 8)I)2024 Bank of New York Mellon Tax Allocation Bands-Payment to Fiscal Agent Merged 1,S37 1,537 0 0 0 1,537 0 1:537
9 1999 Tax Allocation RefundingBonds 1/121,999 8)1)2024 Bank of New York Mellon Tax Allocation Sonds-Payment to Fiscal Agent Merged 848 848 0 0 0 848 0 648
10 2002 Tax Allocation Refunding Bonds ])])2009 ])])2014 Harrell&Company Advisors,LLC Preparation and filing of Continuing Disclosure Annual Merged 250 250 0 0 0 250 0 2S0
Reports and Material Event Notices
Harrell&Company Advisors,LLC Preparation and filing of Continuing Disclosure Annual Merged 1,525 1,525 0 0 0 1,52S 0 1,525
it 1999 Tax Allocation Refunding Bonds ])])2009 ]/])20]4
Reports and Material Event Notices
-12 Emerald Cove Min SeifiesA Lease Revenue 5/13/2010 r':9/S)2021 USBd k -Emerald Cove20105 esA Lease Re pue RefurrdingB ds Merged' `.0
.. _ -
- 'Refund nB Sonds -". "'.�. -"'-: " - '�� -_ - "-=. ��D ce Payments: - --ebt Servl
Sank of New York Mellon Legally binding and e.forceable loan agreement with the U S.Merged 3,025,000 -425,167 v 0 0 0 388,756 0- 3981]S6
13 14UD Section 106 In(..trcctme Lea,for 7/21/2010 i/112019
Hyatt/Hilton Properties Department of Housing and Urban Development for capital
Improvements
14 Strand Hotel and Mixed-Use Prolect, June 1999 to November 9/30/2033 - CIM Group,LLC and Kane Ballmer #NN###########NNN#########ONN###########Ogg########Merged 13,319,723 6]],903 0 0 0 6]],903 0 6]],903
Parking&Infrastructure 2008 and Berkman
15 Strand P,jeCt Additional Parking 1/20/2009 9/30/2033 CIM Gm,p,LLC Property Tax Sharing Agreement under the Disposition and Merged 1,039,285 49,576 0 0 0 49,876 0 49,576
Development Agreement(DDA)and Sixth Implementation
Agreement for she Strand projects parking structure
authorized on January 20,2009.
16 Pacific City 10/1 612 0 0 6 Makar Properties&Kane Ballmer Owner Participation Agreement approved on October 16, Merged 5,520,000 20,000 0 0 0 20,000 0 20,000
and Berkman 2006 for future devek pment of a 31-acre site located at
Pacific Coast Highway and First Street and financed by
property tax allocations.
PiclflcC -Ve�Ldw Income Unit's--` --10)16)2006 - - .'Makar PropertiesMerge- ;.:, "-'0 ;r�` .-0 - 0 .. 0 d 0--- �0 - -
18 Affo d ble Hoosidg Co pliance " „_. - 7/20)2013 Ameon.thenIllfppN#Xp####pNppgp#pgpNgpltNN#Npp#ppg##gNNNpNppNg#p#9 M r8_.d .�:0 0 0
Coin ty Redevelop t Law,Health
and Safety Code Sect 33000 et_.eq - y-r-
covenant monitoring P f AS 987., .. ,±_ ;. -- - -
19 Repayment of SERAF Debt Obligation 2009 5)10)2010 Housing Authority legally enforceable obligation for SERAF loan repayment Merged 3,331,300 ]50,000 0 0 0 750,000 0 ]50,000
20 Repayment of SERAF Debt Obligation 2D10 5/10/2011 Housing Authority legally enforceable obligation for SERAF Loan repayment Merged 706,842 0 0 0 0 0 0 0
21 Abdelmudi Owner Participation 5)28/1991 12/31/2017 Abdelmudi Development Owner participation A13memens)Rent Differential Agreement Merged 6,000 6,000 0 0 0 6,000 0 6,000
Agreement/Rent Differential Agreement Company approved on May 28,1991 for the development fthe three
story building at the Oceanview Promenade.The Third
Implementation Amendment took effect on November 21,
1994.
Coy @ t enforceme tf ARordable` '" 2)2f7 2012 %- 2/20)2013 -Jessi a L the E q Stat t ry bligahon 1 1 g mpll'an d p ratio 5 f M rg d- -0
do
u B P JIts ) -- gA tholRy^p it [h re9 ivrgi5e t
Ha
- - _ = 33y13(b)441 d33A90()l2) nd(3(oPth Cif r
-.Code Rt1'Rgd `gJ-pm tLW Haltq dSf tyCd -
t Sordid
o 33000,et"sCq -
23 Unfunded CaIPERS Pennon Liabilities 6/30/2010 CaIPERS Unfunded CeIPERSPoSon obligation as per CeIPERS� Merged 2,364,734 210,123 0 0 0 305,062 0 105,062
actuarial valuation as of June 30,2010 with estimated factor
se for Fy 12)13
24 Unfunded Supplemental Retirement 9/30/2011 US Bank Unfunded actuarial accrued liability as of September 30,2012 Merged 589,208 5],90] 0 0 0 213,952 0 28,952
Liabilities as per actuarial valuation by Bartel Associates,LLC-
Oversight Board Approval Date:
HUNTINGTON BEACH(ORANGE)
RECOGNIZED OBLIGATION PAYMENT SCHEDULE(ROPS 13-14A)
July 1,2013 through December 31,2013
Funding Source
Total Due Durmg
Contract/Agreement Contract/Agreement Total Outstanding Fiscal Year
Item N Project Name/Debt Obli anon Executlon Date Termination Date Pa be Descri tion/Project Scope Pro'ecf Area Debf or Obll anon 2013-14 Bond Proceeds Reserve Balance Admin Allowance RPTTF Other Six MonthTotal
25 Public Agency Retirement Systems(PARS) 9/10/2010 10/10/2014 Pacific Life Ins Legally enforceable retirement obligation for early retirement Merged 104,802 52,401 0 0 0 52,401 0 - 52,401
Notes Payable eve program and annuity contract with Pacific Life
Insurance Incorporated.
26 Unfunded OPES Liabilities 6/30/2011 CaIPERS/CERBT Unfunded actuarial accrued liability as of June 30,2012 as per Merged 246,371 12,444 0 0 0 6,222 0 6,222
Bartel Associates,LLC.
27 Obligation for unused employee General 9/30/2011 City employees directly involved Obligation forunused employee General Leave earned and Merged 77,792 25,688 0 0 0 25,688 0 25,698
leave earned and vested 1n Housing and Redevelopment vested as per MOD,and All IX26
projects and administration
28 Successor Agency Compliance per IT&5 5/]/200] 4/30/2014 Tierra West Financial and Real estate consultant Merged 7500 7,500 0 0 0 5,000 0 5,000
Code 33433
29 Bella Terra Parking Infrastructure Property 9/30/202S Bella Terra Associates LLC and NNNNNNNNNNNNNNpppNNNNNNNNNpgppNNNNNHHNNNNNNNNppNNNN Merged 13,709,675 1,840,000 0 0 0 1,040,000 0 1,840,000
Tax Sharing Agreement Kane Bailmer and Berkman
30 Bella Terra Phase ll 10/4/2010 7/I/2036 BTDJM Phase ll Associates(LUM) Affordable Housing Agreement approved on October 4,2010 Merged 27,438,830 25,000 0 0 0 25,000 0 25,000
and Kane Balimer and Berkman for construction of a 467 mixed-use unit project.Project is
enlly under constructlon and financed by property tax
allocations.Includes Iegai requirements to implement
obligation.
31 Pierside Pavilion Owner Participation 7/6/2009 Pierslde Pavilion,LLC and Kane_ Owner Participation Agreement(OPA)approved on July 6, Merged 5,000 5,000 0 0 0 2,500 0 2,500
Agreement Bailmer and Berkman 2009 for the continued redevelopment of the site located at
300 Pacific Coast Highway in Downtown Huntington Beach.
Legal services were Incurred to amend the legally obBgared
OPA,
32 Opts ve Agrttmentfor the Huntington ---:10/I/2030 -CITy of Hunrngtdd Beach loa p ymedt for d madeo ptai proleC[sl FV SoutheaitC astal ;�0 0 - 0 0 0 0- 0: 0
-=Beach Redevelopment P dlecf 2004/OS
33 Assessment for AES Property Tax Valuation 3/21/2011 3/21/2012 Van Horn Consulting Assessment for AES Property Tax Valuat ors Southeast Coastal Sp00 5,000 0 0 0 5,000 0 5,000
34 Employee termination/layoff costs related 9/30/2011 9/30/2011 Employee I Payment of costs Incurred to fulfilled collective bargaining Merged&Southeast 11,700 11,700 0 0 0 11,700 0 11,700
to dissolution of Redevelopment Agency agreements for layoffs/terminations of City employees Coastal
relating to the dlssolurlon of the Redevelopment Agency per
Health&Safety Code Section 341]1(d)11(C) -
35 Employee termination/layoff costs related 9/30/2011 9/30/201, Employee 2 Payment of costs incurred to fulfilled collective bargaining Merged&Southeast 9,666 9,666 0 0 0 9,666 0 9,666
to dissolution of Redevelopment Agency agreements for layoffs/terminations of City employees Coastal
relating to the dissolution of the Redevelopment Agency per
Health&Safety Code Section 34171(d)I1(C)
36 Employee terormalion/layoff costs related 9/30/2011 12/23/2011 Employee 3 Payment of costs incurred to fulfilled collective bargaining Merged&Southeast 0 0 0 0 0 0 0 0
to dissolution of Redevelopment Agency agreements for layoffs/terminations of City employees Coastal -
relatingtothe dissolution of the Redevelopment Agency per
Health&Safety Code Section 34171(d)(11C)
37 Employee termination/layoff costs related 9/30/2011 9/30/2011 Employee 4 Payment of costs incurred to fulfilled collective bargaining Merged&Southeast D 0 0 0 0 0 0
to dissolution of Redevelopment Agency agreements for layoffs/termmatiods of City employees Coastal
relating to the dissolution of the Redevelopment Agency per -
Health&Safety Code Section 34111(d)Il(C)
38 Litigation expenses for City of Palmdale et 7/8/2012 T/8/2015 and gallmer&Berkman Payment of litigation costs incurred through June 30,2012 Merged&Southeast 0 0 0 0 0 0 0 0
al.v.Matosantos pursuant to Health and relating to application for a Temporary Restraining Order Coastal
Safety Code Section 34171(01)(F) pertaining to the June 1,2012 property tax payments eligible
odder Health and Safely Code tarried 34171(d)(1)(F)as
mended by All 1484
39 Legal expenses for Successor Agency 7/0/2012 7/g/2015 Kane Balimer&Berkman regal expenses to ensure Successor Agency compliance with Merged&Southeast 150,000 11,110 0 0 0 71,111 0 71,100
ompliance with All Ix 26 and AB 1484 All 1.26 and AB 1484 Coastal
pursuant to Health and Safety Code Section
341]1(d)(1)(F)
Oversight BoaId Approval Date:
HUNTINGTON BEACH(ORANGE)
RECOGNIZED OBLIGATION PAYMENT SCHEDULE(ROPS 13-14A)
July 1,2013 through December 31,2013
Funding Source
Total Cue..ring
Contract/Agreement 'CmbI—I/.fowmmm1
Total O.t-miing Fiscal year
Item N Project N eam/Debt Obli anon Execution 0a[e Termination Oate payee on-1 tion/Project Scope Project Area Deb[or Obli a[lon 2013 14 Bond Pro ceetls Reserve Balance Ademn Allowance RPTTF Other _!I,Month Total
40 Economic Analysis services related to 6/15/2010 6/15/2014 Keyser Marston Economic Analysis consulting services to ensure Successor Merged&Southeast 500,000 200,000 0 0 0 70,000 0 70,000
Successor Agency compliance with AS 1.26 Agenry compliance with AS 1.26 and AS 1484 Coastal
antl AS 1484 pursuant to Health and Safety
Code Section 34171(d)(1)(F)
41 fluq I Bt C ter R d lupin of plan" 6/9/2t105 10(1(1630 S c Ag cy '- .Land d Right-of-way_ qbi Itl t t,d with th M g d _0 0 0 0 0 d 0 0
dev pment - Guth d Hoover E t ns n project antl tl elopment of
Public storage facility _
A2 Ma P r 0.edevelop [Project Pha II'6(10/2005 10/1/2030 -Soy or Agenry _ Costs d[ req tl th_th M P Pr J t M ged U 0 0 0 0 0 1 0` 0
"' -
r_ area for Phase Il development projects -
43 O v l p t f Downtown Main Pie - -- 10/1/2030 Suc Ag y Eo is i d t quire d within the M P _p-J ct M getl `0 0 0 0 0 _ 0 0 -0
PV m-- ofp 4.gfac
are t ent th t cnon- d4tie
within the downtown`Ma n"P e
qq,Thi d BI k W [ -m I/a�Qent i 6118/2005 10J1/2030'" 5 4 A8 cY:: -Rel t p petty q t dtl [h f p I t co t merged = =0 0 0 0 0 0 0' 0
prof t _ assdated Ith the Thl tl BI k We,, "
- - Co d /R-tU/Off project,i th M Pler
Retlevelopment prole[[area _
.45 Second BlockA eya'nd Streetlmprovement 6/10/2005 - ib/i/2030,` Suc[ rAgency 'Pfop.My acquisition tas'oelateal with th Se d,@I k Merged --�0 _ 0 _ 0 P 0 0s� 0 0
project E' -_ '.alley d t L Top tP lest _
<4fi Strand Project• -_ 6/18/2005. �' IOj1/2030 - Suc or Agency Relocation costs paid to Wind and Se Surf Sho M getl ':'0 _ 0 0 0 ,n 0< `,0.-- 0' 0
4J Pie d H t/Retail/P k g Structur 10/1/2030 Suc Agency:-. Selocatio 6 cost paid to Terry Coffee Shp and First: Merged 0 0 0 0 0 Q P. 0
Pidl t "' 3 _ Int r t t t k - -
-- - .v.- -
A8 Wat - - t b u t dd Itro f M getl _0 0 0 0 0 0 = 0
iF t C M t S to p - 10/1/2030 Suc Agency y Ca[s t d t the y
er
Oriffiveod andPyaf M ble Home4P ks laced tart
-- - - ';Waterfront commercial Master site Plan -
49 Str d Project y _- 10/1/2030 - 5U[e Agency Prop rry p9 a tlo'n t c aced Y/th[h St and^PrPJ t Metged '0 — 0 0 0 0 0 4= 0
50 Enforcement of Successor Agency Sucre sor Agency,Kane eallmer, Successor Agency atlm nstrative obligatons relarng to Merged&Southeast 195,780 195,780 0 0 195,790 0 0 195,780
ompliance and monitoring per AS 3X26 KeyserMarston,and Macias Gini maintaining payments on enforceable obligations and other Coastal
&O'Connell LLP activitles as regn,ad by AS 3X26
51 Successor Agency Property Maintenance 5&S Fencing Fencing to secure Successor Agency Property Merged 1,500 1,500 750 750
ebc,nB
52 Successor Agency Prceprty Maintenance- T,.Green As needed weed abatement for Agency proeprty Merged 7,500 7,500 4,000 4,000
- weed control
53 Emerald Cove 2010 Series A Lease Revenue 5/30/2010 F2/5/2015
US Bank Emerald Cove 2010 Series A Lease Revenue Refunding Bonds Merged 3,649,634 0 0 404,931 404,931
Refunding Bonds Debt Service Payments
54 Pacifc CRY-Very to.Income Units 10/16/2006Housing Authorl[ Statort.1 housing obligation for Pacific CityProject Merged fi'500,000 0
55 Litigation expenses for City of I Iuntington 2/5/2013 Kane Balimer&Berkman Payment of litigation costs for property tax payments eligible Merged 75,000 50,000 50,000 50,000
Beach v.Matosantps pursuant to Health under Health and Safety Code Section 34171(d)(1)(F)as
and Safety Code Section 34171(d)(1)(F) amended by AS 14B4
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
HUNTINGTON BEACH(OLMNGE)
Pursuant I.1lealth and Safety Cade section 331B61.)
PRIOR PERIOD ESTIMATED OBLIGATIONS vs.ACTUAL PAYMENTS
RECOGNIZED OB LIGATION PAYMENT SCHEDULE(FOPS II)
luly 1,2012 Through December 31,2012
LMIHf and Proceeds Reserve Balance Admin Allowance RPTTF Other
hemp Project Name/Debt ObllgaUan Payee Description/Project Scope project Area Estimate Actual Estimate I. ual Estimate ALI..I
$0 $0 $0 $0 $D $0 $16T,416 $167,416 $5,500,531 $5,346,465 $0 $0
P1,line 18 land 5ale Emerald Cove COLD Park A&D Fund Legally Binding Dperalive Agreement Principal Amount Merged 0 0
P2,Line 1 NlaimPit,Purchase loan Repayment Housing Authority legally Binding and Enforceable Agreement for Property Merged 0 0
Acqulslllon forth¢Me In 1 Protect
P2,Line2 HVatl Regency HuntingWIl Beach Prajeci Robert Mayer Corporation oGposillon and Development Agreement approved on Merged 367,896 367,887
September 14,1998 for the Waterfront Development
P2,Line 3 2002 Tax Allocallon Refunding Bonds Bank of Newyork Trust Co. Tax Allocatlons Bonds 01bt Service Payments Merged 1,31$,369 1,315,369
P2,Llne 4 1999 Tax Allocatlon Refundin8 Bands Bank of New York Trust Co. Tax Allocations Bonds Debt Service Payments Merged 599,044 ISSO44
PZ,Llne 5 200Z Tax Allocation Refunding Bondi Arbitrage Compliance Spedlillsl Tax Allocatlons Bonds arbitrage rebate calculator federal Merged $00 0
IRS Cnmpilance
P2,Line6 1999 Tax Allocallon Refunding Bonds ArblUage Compliance Speclalhl Tax Allocatlon Bonds arbitrage rebate calculation-Federal Merged 0 0
1R5 Co 11.nce
PZ,Llne T 200Z Tax Allocation Refunding Bonds Internal Revenue Service 151h Year Arbitra a Rebate Paymebt Mer ed 0 0
PZ,LIne02002 lax Allocallon Relunding Bonds Bankaf New York Mellon Tax Allocallon Bonds"Pa marl to FiscalA ant Merged 1,53T 11812
12,Line 9 1999 Tax Allocation Refunding Bonds Bank of New York Mellon Tax Allocallon Bands Pam m Fiscal A e Mer ed 0 0
P2,Line 10 2002 Tax Allocation Refunding Bands AMBAC Bank of America Master Repurchase Agreement for 0e6t Merged 0 0
ce Reserve
P2,Line 11 2002 Tax Allocation Refunding Bands Harrell&Company Advisors,LLC Preparation and Filing of Continuing DHclosure Annual Merged Z50 250
Reports and Material Event Notices
12,Line 12 1999 Tax Allocatlon Refunding Bonds Harrell&Company Advisor,LLC Preparatlon and filing of Continuing Disclosure Annual Merged 1,525 1,500
Reports and Material Event Notices
12,Une 13 HU05-G_W.infraslruclure Loan for Bank of New York Mellon Legally binding and enforceable loan agreement with the US Merged 3]0,1]5 370,175
Hyall/HI� Properties Deaprtment of Housing and Urban Development for capital
P2,line 14 HELP Bowen Court California Housing finance Full payment of loan borrowed by Agency for Senior Rental Merged 0 0
Authority Complex from the Stale of CaOfornia
P3,line 1 Strand Hale:and Mixed Use Project,Parking CIM Group,LLCand Kane Balmer NNNNNNpgILL...pgNNNNpppppp8ppgpNNNNNNNNNNNNNNNpgppN Merged 685,4D3 677,903
&Infrastructure Implementing Agreement t.d Berkman
P3,LIne2 5lrand Project Addlflonal Parking I CIM Gf P,LLC party Tax Sharing Agreement under the Oisposilion and Merged 49,S16 49,S76
1opment Agreement(ODA)and 5Gx h Implementation
Agreement for the Strand projects parking structure
authorhed pn tan_20,2009
P3,LIne3 Paclllc City Maker Properties and Kane Owner Participation Agreement approved on October 16, Merged 20,000 20,000
Ballmer and Berkman 2D06 for future development of a 31"acre site located At
Paclfle Coast Highway and First street and Rnanced 6y -
praperty tax allocalions.Legal services Incurred to eliminate
obligallon,
13,Line 4 Covenant Monitoring Obi:gatlons of Housing AUlhodty Slalutp Ob1lgallons for housing affordability,production, Merged 153,202 153,202
Ilous:ng Authoriry reporting and complianu as per Government Code
P3,LIne5 Housing Authar:ty Covenant Monitoring per Keyser Mars ton Statutory Obligations for Housing reporting,auditing,and Merged - )S,DGD 2
AB 987 compliance
P4,Line 1 Affordable Housing Compilance pursuant to Amerinaliona: Statutory obligallon for housing compliance services pursuant Merged 37,S00 0
therequirements Of 5etll 33413(b)(4) othe req.i,eme of SeU 334t3(b)(4)and 33490(a)(2)
and 3349D(a)(2)and(3)of the California and 13)of the C9ilfornla Community Redevelopment Law,
Community Redevelopment Law,Health Health and Safety Cade Section 330DD 0seq.Covenant
and Safety Code Section 33DDD eI seq. nlloring per AB 907
Covenant monitoring Per AB 987
P4,LIne2 Affordable Housing Compilance pursuant to Kane Ballmer and Berkman Statutory o611galIo.for legal,w mpllance and operations of Merged 75,000 19,022
the requirements Of Section 33413(6)(4) Housing AUlhoriry pursuant 10 the requirements of Section
and 33490(a)(2)and(3)Of the Cal:forma 33413(b)j41 and 33490(a)(2)and(3)of the California
Community Redevelopment law,Health Community Redevelopment Law,Health and 5afety Code
and Safety Code 5eclion 33000 It seq. Section 33NO et seq.
Covenant monitoring Per Ali 987
P4,Llne3 Repaymentof SERAFOebt Obligation2009 Housing Authoriry LegallyenfOrceablyobllgatlon for SERAf loan repayment Merged 0 0
P4,LIne4 Repayment of SERAf Oebt Obllgatlon 2010 Housing Authority Legally enfarceablyobllgatlon for SERAf Loan repayment Merged 0 0
HUNTINGTON BEACH(CHANGE)
Pursuant to Health end 5,H.W Codes 1R 34106(aI
PRIOR PERIOD ESTIMATED OBUGATIDNS vs.ACTUAL PAYMENTS
RECOGNIZED OBLIGATION PAYMENT SCHEDULE(BOPS III
luly 1,2012 through December 31,2022
I MiHP Bond Proceeds Reserve Balance Admin Allowance RPIiF Other
he.. Protect Name/Debt Obiigatlon Payee Desulptlon/Prolect scope Protect Area Estimate Actual Estimate Actual Estimate Actual Estimate uai Estimate uai Estimate Ai
$0 $0 $0 $0 $0 $0 $167,416 .All $S,Sg0,532 $5,34fi,965 $0 $0
P9,Line 5 Abdelmudl Owner Particlpatlon Abdelmudl Development Dwner Particlpatlon Agreement/Pent Dlffarentlai Agreement Merged- 6,000 1,—
Ag'ee Differential Agreement Company approved on May 28,1992 for the development of the three
story building al the Oceanvlew Promenade.The Third
Implemen[aslon Amendment took effect on November 2l,
199'L
P4,LineJ ppggqpppppppppppqppppp.gpppppppppppp Grace lo,Esq. Statutory obligetlon for legal,compliance and operations W Merged 0 0
Housing Authority Pursuant to the requirements of Secuon
3341,(il and 33490(a)(2)and(3)of the California
<Ommunity Redevelopment Law,Health and Safety Cade
action 33000 et seq.
P4,Line B pppppppgpppppppgppppppppppqqppqp.q.p Jessica Latham,Esq. 5tatutory obligation for legal,compliance and operations of Merged 15,000 0
Housing A,AI o EV pursuant to the req uiraments of section
33413(b)(4)and 33490(a)(2)and(3)of the California
Community Redeuelopment Law,Health and Safety Code
n 330M et seq.
P4,Llne 9 Unfunded CaIPERS Pension LeWhies GIPERS Ur,o.ded CaIPERS pension obligetlon as per GIPERS actuarial Merged 36,J 36,T62
valuation as of lone 30,2010
P4,line 10 Unfunded Supplemental Retirement US Bank Unfunded actuarial accrued Ilabllity az of September 30,2011 Merged 9,409 S'4
liabilltles as per actuarial valuation by NON Consulting,lc
14,Ul 11 Public Agency Retirement Systems(PARS) Pacific Ilk Ins legally enforceable retirement obligetlon for early retirement Merged 19,965 19,965
Notes Payable endue program and annuity contract
P4,Line 12 Unfunded OPEB Liabilities GIPERS/CERBT Unfunded actuarial accrued liability as of tune 30,2011 es Per Merged ZE00 2,880
AON Consulting,Inc.
14,Line 13 Obilgati0n for unused employee General City employees directly Involved In Obilgatlon for unused employee General Leave earned and Merged 0
leave earned and vested Housing and Redevelopment sled as per MOU,and AB 1x21 _
Protects and Administ211on
P4,Line 14 Successor Agenc Compliance Nagasaki and Associates Appraisal and Reel Estate Consultant Mer ed 13,000 2,500
4,Llne 15 Successor Agency Compliance per H&5 Tierra West Flnancial and Real Estate Consultant Merged 29,E5 4,328
Cade 33433
P4,Llne 26 Legally enforceable oh1Ig,,0 as per Iuis Gomez Legeiiy enf.r Ibie tuition reim bursement benefit as par Merged 0 0
Memorandum of Understanding with MDU and AB WE
bargaining unit
-P5,line 1 Emerald Cove 2010 Series A Lease Revenue US Bank Emerald Cove 2010 Series A lease Revenue Refunding Vonds Merged 404,564 404,s64
Bonds Debt Se"Ie Payments
Ps,It,,2 Bella Terra Parklug Infrastructure Property Bella Terra Assoc lases LLCand pp.ggqp.pggppppqpp.ppp.NN.pgppp.pgppppppppqppqqqqpq Merged 1,277,600 1,1)),600
Tax Sharing Agreement gene Ballmer and Berkman
P5,Llne 3 Bella Terra Phase II BTD1M Phase II Associates(DIM) Afkrdabie Housing Agreement approved on October.,2010 Merged 7,100 7,200
and Kane Ballmer and Berkman for construction of a 467 mixed use unit protect.protect Is
ently under construction end hil_ed by property tax
I—Inclutlez legal requrements to implement
obligeton. .
11,I1ne4 Plerslde Pavillion Owner Participasion Plerslde Pavliiion,LLC and Kane Owner Participation Agreemens(.PA)approved on luiy 6, Merged 4,000 4,000
Agreement Ballmer and Bekman 1009 for the continued redeveiopment of the site tocated at
'00acih,Worst Highway hl Dawnmwn Huntington Beech.
Legal services were Incurred to amend the legally obhgekd
.PA.
PE,Linel Wildlife Care Center CltYof Huntington Beach Advance from CRY on construction of Conservancy Grant Southeast Coastal 0 0
funded block wail
p6,U.,2 Operative Agreement for the Huntington Clly Of Huntington Beach Laan repayment for advance made on capital projects In Fy Southeast Coazlai 0 0
BeacM1 Redevelopment Protect 2004/2005
P6,Ike A essment for AES Property Tax Valuation Van Horn Consulting Assezzm 111 AES Propety Tax Valuation Southeast Coastal 1,500 0
17,Line 3 Enforcement of Successor Agency Successor Agency,Kane Ballmer Successor Agency administrative Obligations relating t0 Metged&Southeast 167,416 167,416
omplNnce end monlbring per Ag 1x26 and Berkman,Keyser Marston, maintaining payments on enforceable obligations and other Co W
antl Macias Glni&O'Connell LLP tivllies az required by AB 1126
HUNTINGTON BEACH(ORANGE) -
RECOGNIZED OBLIGATION PAYMENT SCHEDULE(ROPS 13-14A)—Notes(Optional) N
July 1,2013 through December 31,2013 - - -
Item p Project Name/Debt Obligation Notes/Comments
1-_land Sale Emerald Cove
__ - 2 Hyatt Regency Huntington Beach Project Actual payee is_PCH Beach Reports LLC__
3 2002Tax Allocation Refunding Bonds
_____4 1999 Tax Allocation Refunding Bonds -
_ 5 2002 Taz Allocation Refunding Bonds__
6 1999 Taz Allocation Refunding Bonds
7 2002 Tax Allocation Refunding Bonds The Tax Allocation Bond arbitrage rebate payment for Federal IRS Compliance was paid in the January to June 2013 ROPS period.
8 2002 Tax Allocation Refunding Bonds
_ _9_ 19_99 Tax Allocation Refunding Bonds_____ _ ____
_ 10 2002 Tax Allocation Refunding Bonds__
11 1999 Tax Allocation Refunding Bonds
12 Emerald Cave 2010 Series A Lease Revenue
Refunding Bonds _ _ -
13 HUD Section 108 Infrastructure an for
_ Hyatt/Hilton Properties
14 Strand Hotel and Mixed-Use Project, _
Parking&Infrastructure
15 Strand Project Additional Parking _ -
_ 16 Pacific City _
17 Pacific City-Very Low Income Untts
18 Affordable Housing Compliance
Community Redevelopment Law,Health
and Safety Code Section 33000,et.seq.
Covenant monitoring per AB 997.
19 Repayment of SERAF Debt Obligation 2009 Pursuant to AB1484,repayment to the former Redeveopemtn Agency's housing successor entity for deposit into the LMIHF to make Supplemental Educational
_- Revenue Augmentation Fund(SERAF)payment,subject to the City obtaining the necessary finding of completion.
20 Repayment of SERAF Debt Obligation 2010
21 Abdeimudi Owner Participation
Agreement/Rent Differential Agreement -
22 Covenant enforcement for Affordable - -
housingprojects
23 _Unfunded CaIPERS Pension Liabilities _ Based upon the mast recent acturial valuation dated Octaber 2012 for Fiscal Year ending June 30,2011
24 Unfunded Supplemental Retirement Based upon the most recent acturial valuation dated October 2012 for Fiscal Year ending June SO,2011
Liabilities - -
25 Public Agency Retirement Systems(PARS)
Notes Payable
Unfunded OPEB Liabilities __ Based upon the most_recent_acturial valuati_o_n_dated_October 2012 for Fiscal Year ending June 30,2011
27 Obligation for unused employee General
Leave earned and vested
28 Successor Agency Compliance per H&S
Code 33433 ______ _
29 Bella Terra Parking Infrastructure Property
Tax Sharing Agreement
30 Bella Tera Phase II The Payee should actually be Bella Terra_Villas,LLC
31 Pierside Pavilion Owner Participation -
__ Agreement
32 Operative Agreement for the Huntington
Beach Redevelopment Project
33 Assessment for AES Property Tax Valuation
34 Employee termination/layoff costs related The total amount of this obligation was increased due to the former employee's filing of unemployment claims forthe first and second quarter,the employee did
to dissolution of Redevelopment Agency not file a claim for the third quarter. - -
35 Employee termination/layoff costs related Amount represents cost incurred for layoff of City Employee performing work directly related to the former Redevelopment Agency as per Health and Safety Code
to dissolution of Redevelopment Agency Section 34171(d)(1)(D
36 Employee termination/layoff costs related
to dissolution of Redevelopment Agency
_ 37 Employee termination/layoff costs related
to dissolution of Redevelopment Agency
38 Litigation expenses for City of Palmdale et - -
al.v.Matosantos pursuant to Health and - -
_ Safety Code Section 34171(d)(1)(F)
39 Legal expenses for Successor Agency
compliance with AB 1x 26 and AR 1494
pursuant to Health and Safety Cade Section
34171(d)(1)(F) _
40 Economic Analysis services related to
Successor Agency compliance with AB 1x 26
and All 1484 pursuant to Health and Safety
Code Section 34171(d)(1)(F)
41 Huntington Center Redevelopment Plan
development
42 Main-Pier Redevelopment Project Phase II
43 Development of Downtown Main-Pier
project area -
44 Third Block West commercial/residential
project
45 Second Block Alley and Street - - -_____Improvement Project_
46 Strand Project
47 Pierside Hotel/Retail/Parking Structure
___Proje_ct _ ____ _
48 Waterfront Commercial Master Site Plan
HUNTINGfON REACH(ORANGE)
RECOGNIZED OBLIGATION PAYMENT SCHEDULE(ROPS 13-14A)—Notes(Optional)
July 1,2013 through December 31,2013
Item# Project Name/Debt Obligation Notes/Comments
49 Strand Project
50 Enforcement of Successor Agency The Successor Agency to the Huntington Beach Redevelopment Agency does not intend to waive any constitutional,legal or equitable rights of the Successor
compliance and monitoring per AB 1X26 Agency,its.Oversight Board or the City of Huntington Beach and expressely reserves any all rights,privileges,and defenses available to the Successor Agency,its
_ Oversight Baard or the City of Huntington Beach under law and equity.
S - -
-51 &S Fencing/Fendng to secure real Purusant to Health and Safety Code section 34171(d)(F),fencing is requried to secure the property that has been transferred back to the Successor Agency
_ property__
52 TruGreen/Weed Abatement for real Purusant to Health and Safety Code section 34171(d)(F),weed abatement is requried to secure the property that has been transferred back to the Successor
ro e
P p rtY Agency__—___ --_—_
53 Emerald Cove 2010 Series A Lease Revenue The LMIHF has been retained to pay the Bond debt,and the payment is from the retained LMIHF monies.No RPTTF fudning is requested at this time
Refunding Bonds
54 Pacific City-very Low Income Units it is the Successor Agency's obligation to include statutory housing obligations on the ROPS and is currently the subject ofjudiciai review and the Pacific City
.,____ ______ _ obligation is being included to reserve our right to use RPTTF if the Court determines that such obligations are enforceable.
SUCCESSOR AGENCY CONTACT INFORMATION
Successor Agency
ID: 198
County: Orange
Successor Agency: Huntington Beach
Primary Contact
Honorific(Ms,Mr,Mrs)
First Name (Lori Ann
Last Name Farrell
Title Director of Finance
Address 2000 Main Street
City Huntington Beach
State CA
Zip 92648
Phone Number i714-536-5225
Email Address Iloriann.farrell@surfcity-hb.org
Secondary Contact
Honorific(Ms,Mr,Mrs)
First Name Kellee
Last Name Fritzal
Title Deputy Director of Economic Development
Phone Number 714-374-1519
Email Address kfritzal@surfcity-hb.org
Res. No. 2013-06
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
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 Redevelopment Agency at a meeting held on February 21,2013 and that it was so
adopted by the following vote:
AYES: Board Members: Boardman, Bone, Carchio, Delgado, Fritzal
NOES: Board Members: None
ABSENT: Board Members: A. Dunn, L. Dunn
ABSTAIN: Board Members: None
t
Secr ry of th ntingtod
each Oversight
Bo of the Successor Agy of the Former
City of Huntington Beach Redevelopment
Agency Huntington Beach, California
"Board Member Bone recused himself on line item 2 & 13 of the RODS