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Oversight Board - 2013-08
RESOLUTION NO. 2013-08 A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH APPROVING AND AUTHORIZING THE TRANSMITTAL OF THE DUE DILIGENCE REVIEW (AS AMENDED) OF SUCCESSOR AGENCY FUNDS AND ACCOUNTS OTHER THAN THE LOW AND MODERATE INCOME HOUSING FUND WHEREAS, pursuant to Health and Safety Code Section 34175(b) and the California Supreme Court's decision in California Redevelopment Association, et al. v. Ana Matosantos, et al. (53 CalAth 231(2011)), on February 1, 2012, all assets, properties, contracts, leases, books and records, buildings, and equipment of the former Redevelopment Agency of the City of Huntington Beach transferred to the control of the Successor Agency to the Redevelopment Agency of the City of Huntington Beach (the "Successor Agency") by operation of law; and Health and Safety Code Section 34179.5(a) requires the Successor Agency to employ a licensed accountant, approved by the County Auditor-Controller and with experience and expertise in local government accounting, to conduct separate due diligence reviews for the Low and Moderate Income Housing Fund and for all other funds and accounts combined, in order to determine the unobligated balances available for transfer to taxing entities; and The Successor Agency, with the approval of the Orange County Auditor- Controller, contracted with Vavrinek, Trine, Day and Co., LLP to perform the due diligence reviews; and The due diligence review of the Low and Moderate Income Housing Fund was approved by the Oversight Board on November 16, 2012 and the due diligence review for the other funds and accounts of the Successor Agency ("Due Diligence Review") was approved by the Oversight Board on January 15, 2013; and The Due Diligence Review approved on January 15, 2013 was prepared in accordance with the Procedures posted on the State Department of Finance's website; and Following the January 151h approval and subsequent submittal to the State Department of Finance of the Due Diligence Review, the State Department of Finance requested that the Due Diligence Review exhibits be amended to match a June 301h fiscal year end rather than the former Redevelopment Agency's September 301h fiscal year end; and The Due Diligence Review exhibits have been so amended; and Pursuant to Health and Safety Code Section 34179.6(b), upon receipt of the Due Diligence Review (as amended), and at least five business days before the Oversight 12-3561.001/89565 1 Resolution No. 2013-08 Board considers the approval of the Due Diligence Review (as amended), the Oversight Board must hold a public comment session (the "Public Comment Session") at which time the public has an opportunity to hear and be heard on the results of the Due Diligence Review (as amended); and The Oversight Board must consider the opinions, if any, offered by the County Auditor-Controller on the results of the Due Diligence Review(as amended); and On May 22, 2013, the Oversight Board held the Public Comment Session pursuant to Health and Safety Code Section 34179.6(b) and has considered the opinions, if any, offered by the County Auditor-Controller on the results of the Due Diligence Review (as amended); and Pursuant to Health and Safety Code Section 34179.6(c), the Oversight Board must review, approve and transmit to the State Department of Finance and the County Auditor- Controller, the determination of the amount of cash and cash equivalents in the funds and accounts of the Successor Agency, other than the Low and Moderate Income Housing Fund, available for disbursement to taxing entities as determined according to the method provided in Section 34179.5. Health and Safety Code Section 34179.6(c) provides that the Oversight Board may adjust any amount provided in the Due Diligence Review (as amended)to reflect additional information and analysis; and The Oversight Board now desires to approve the Due Diligence Review (as amended) that is attached to this Resolution and authorize its transmittal; and The Oversight Board may direct staff of the Successor Agency to perform work in furtherance of the Oversight Board's duties and responsibilities; and All other legal prerequisites to the adoption of this Resolution have occurred. 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 has received and heard all oral and written objections to the Due Diligence Review (as amended) and the determination of the amount of cash and cash equivalents in the funds and accounts of the Successor Agency, other than the Low and Moderate Income Housing Fund, available for disbursement to taxing entities and all such oral and written objections are hereby overruled. 3. The Oversight Board hereby approves the Due Diligence Review (as amended). 4. Based upon the Due Diligence Review (as amended), the Oversight Board hereby determines that the amount of the cash and cash equivalents in the funds and 12-3561.001/89565 2 Resolution No. 2013-08 accounts of the Successor Agency other than the Low and Moderate Income Housing Fund that is available for distribution to the taxing agencies is zero. 5. The staff of the Successor Agency is hereby directed to transmit to the State Department of Finance and the County Auditor-Controller on behalf of the Oversight Board written notice and information regarding the actions taken by this Resolution and specifically the determination of the amount of cash and cash equivalents in the funds and accounts of the Successor Agency other than the Low and Moderate Income Housing Fund that are available for distribution to taxing entities as determined by the Due Diligence Review (as amended). Such notice to the State Department of Finance shall be provided by electronic means and in a manner of the Department's choosing. 6. The staff of the Successor Agency is hereby authorized to execute and record such documents and instruments and to do any and all other things which they may deem necessary or advisable to effectuate this Resolution and any such actions previously taken are hereby ratified. 7. 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. 8. This Resolution shall take effect upon the date of its adoption. PASSED AND ADOPTED by the Oversight Board o the Successor gency to the Redevelopment Agency of the City of Huntington Bea c t a special eting thereof held on the 30th day of May , 20 C i REVIE E ND APPROVED: INITIAVED: L� e tive Director puty Executi e Director APPROVED AS TO FORM: V Exhibit A: Due Diligence Review Board Couns l 12-3561.001/89565 3 Exhibit A City of Huntington Beach Redevelopment Successor Agency Exhibit B Pursuant to AB 1484-All Other Funds Summary of Financial Transactions Original Submitted to Revised Exhibit DOF Redevelopment Redevelopment Redevelopment Successor Successor Agency Agency Agency Agency Agency 12 Months Ended 12 Months Ended 4 Months Ended 8 Months Ended 5 Months Ended 9/30/2010 9/30/2011 1/31/2012 9/30/2012 6/30/2012 Assets(modified accrual basis) Cash andlmprest Cash $ 11,175,988 $ 6,795,373 $ 14,001,933 $ 6,494,023 $ 12,210,577 Cash with Fiscal Agent 2,402,319 2,450,681 3,039,273 2,422,613 2,717,598 Tax Increments Receivable 4,509,650 3,866,063 - - - Accounts Receivable 753,399 78,826 Accrued Interest Receivable 37,060 19,239 - - - Loans Receivable 8,070,000 10,334,925 10,383,647 158,988 122,728 Due from Capital Projects Fund 1,823,575 1,836,536 1,362,614 - - Due from Debt Service Fund 4,507,706 5,514,257 3,927,706 Other Assets(Advances to Other Funds) 302,489 - - - Land Held for Resale 6,158,399 - 5,978,103 - (C) Total Assets $ 39,740,585 $ 30,895,900 $ 32,715,173 $ 15,053,727 $ 15,050,903 Liabilities(modified accrual basis) Accounts Payable $ 217,065 $ 3,226,481 $ 923,638 $ 8,846 $ - Deposits Payable - - 114,981 $ 114,981 114,981 Other Liabilities(Advances from Other Fund 3,773,291 - - - - Deferred Revenue 10,353,740 10,219,516 10,219,516 Due to Capital Projects Fund 659,961 1,570,473 - Due to Debt Service Fund 1,081,000 5,780,320 - - - Due to Low/Mod Income Housing Fund 4,590,320 - 5,290,320 5,290,320 5,290,320 Total Liabilities $ 20,675,377 $ 20,796,790 $ 16,548,455 $ 5,414,147 $ 5,405,301 Equity 19,065,208 10,099,110 16,166,718 9,639,580 9,645,602 Total Liabilities+Equity $ 39,740,585 $ 30,895,900 $ 32,715,173 $ 15,053,727 $ 15,050,903 Total Revenues: $ 22,823,373 $ 19,236,576 $ 7,313,828 $ 3,491,464 $ 4,676,256 Total Expenditures: $ 31,336,767 $ 28,202,674 $ 1,246,220 $ 5,691,012 $ 947,906 Total Transfers: $ - $ - $ $ - Total Extraordinary Items $ - $ - $ $ 11,839,128 $ 5,917,252 Net change in equity $ (8,513,394) $ (8,966,098) $ 6,067,608 $ 9,639,580 $ 9,645,602 Beginning Equity: $ 27,578,602 $ 19,065,208 $ 10,099,110 $ - $ - Ending Equity: $ 19,065,208 $ 10,099,110 $ 16,166,718 $ 9,639,580 $ 9,645,602 Other Information(show year end balances for all three years presented): Capital assets as of end of year $ 48,777,000 (A) $ - $ - $ 15,033,359 $ - Long-term debt as of end of year $ 139,237,000 $ 133,399,000 $ 129,490,040 $ 140,033,942 (B) $ 129,165,190 (A) In fiscal year 2009-10,the Agency transferred depreciable capital assets with a net book value of$31,624,000 for a public parking structure and blufftop restrooms. Refer to Note 12 of the audited redevelopment agency financial statements for the year ending September 30,2011 for futher detail. (B) Waterfront asset was incorrectly added to the long-term debt amount by the auditors,increasing long-term debt by$14,023,000. (c) Assets considered Land Held for Resale were transferred from the Redevelopment Agency to the City in 2011 and were transferred back to the Successor Agency after June 30,2012. City of Huntington Beach Redevelopment Successor Agency Pursuant to AB 1484-All Other Funds Exhibit C Schedule of Asset Transfers to the City,County,or City and County,and Other Public Agencies or Private Parties $VALUE OF $VALUE OF ASSETS SOURCE DOC PURPOSE OF TRANSFER BASIS FOR TRANSFER DATE OF TRANSFER DESCRIPTION OF ASSETS RECIPIENT ASSETS TRANSFERRED NOT SUPPORTED Period of tan 1,2011 through,lan 31,2012 Repayment of loan outstanding Health and Safety Code Sections 33220, City of Huntington Beach General to the City for the puchase of 33600,33601,336610 1/1/2011 Cash and Cash Equivalents Fund 409,483 land Repayment of loan outstanding Health and Safety Code Sections 33220, City of Huntington Beach General to the City for the puchase of 33600,33601,336610 2/28/2011 Cash and Cash Equivalents Fund 409,483 land Repayment of loan outstanding Health and Safely Cade Sections 33220, City of Huntington Beach General to the City for the puchase of 33600,33601,136610 3/7/2011 Cash and Cash Equivalents Fund 2,456,900 land Repayment of loan outstanding Health and Safety Cale Sections 33220, City of Huntington Beach General to the City for the puchase of 33600,33601,336610 3/31/2011 Cash and Cash Equivalents Fund 409,483 land Repayment of loan outstanding Health and Safety Cale Sections 33220, City of Huntington Beach General to the City for the puchase of 33600,33601,336610 9/29/2011 Cash and Cash Equivalents Fund 1,132,602 land Disposition and development agreement by and between the Redevelopment Agency of the City of Huntington Beach and PCH Beach Resort,LLC dated April 4,2011,City Council Resolutions#2011-17&2011-18 and City of Huntington Beach General Resolution 92011-17 Redevelopment Agency Resolution#s 387& 3/7/2011 Waterfront Fund 14,023,000 See Footnote 1 388 City of Huntington Beach General Returned to Agency on January Returned to Agency on January 31,2012 10/31/2011 Cash and Cash Equivalents Fund 409,500 31,2012 City of Huntington Beach General Returned to Agency on January Returned to Agency on January 31,2012 11/30/2011 Cash and Cash Equivalents Fund 409,500 31,2012 City of Huntington Beach General Returned to Agency on January Returned to Agency on January 31,2012 12/31/2011 Cash and Cash Equivalents Fund 409,500 31,2012 City of Huntington Beach General Returned to Agency on January Returned to Agency on January 31,2012 1/17/2012 Cash and Cash Equivalents Fund 3,276,000 31,2012 City of Huntington Beach General Returned to Agency on January Returned to Agency on January 31,2012 1/31/2012 Cash and Cash Equivalents Fund 1,541,902 31,2012 Reversal of transfers to City Reversal of transfers to City made from City of Huntington Beach General made from October 2011- October 2011-January 2012 1/31/2012 Cash and Cash Equivalents Fund (6,046,402) January 2012 Period of Feb 1,2012 through September 30,2012 Footnote feF disposition and Waterfront `ueeessn:Ageney TOTAL 18,840,952 Footnote 1 The$14,023,000 waterfront property was transferred back to the Successor Agency as of September 30,2012 With the reversal of the waterfront property,the total value of assets transferred is$4,817,952 as indicated below Total value of assets transferred per Exhibit C 18,840,952 Less Reversal of waterfront property (14,023,000) Total value of assets transferred,net $ 4,817,952 City of Huntington Beach Redevelopment Successor Agency Exhibit C-1 All Other Funds-Listing of Assets As of September 30,2012-Unaudited Note: Excludes all assets held by the entity that assumed the housing function of the former RDA OriginaD SubmAtted to IlDOIF Revised Exhibit Assets as off 9/30/20Il2 as off 6/30/20Il2 Cash and investments Cash with Treasurer $ 6,494,023 $ 12,210,577 Total $ 6,494,023 $ 12,210,577 Cash/investments w/Fiscal Agent 1999 TABS Cash with Fiscal Agent 753,775 754,499 2002 TABS Cash with Fiscal Agent 1,668,838 1,963,099 Total 2,422,613 2,717,598 Other(break-out/delineate as appropriate) Auto BID Loan Receivable 43,572 40,156 NF Loan Receivable 115,416 82,572 Land 15,033,359 (A),(B) - Land Held for Resale 5,978,104 (B) - Total 21,170,451 122,728 TOTAL ASSETS AT TOTAL ASSETS AT 9/30/2012: $ 30,087,087 6/30/12: $ 15,050,903 (A) Includes the$14,023,000 land as noted in Exhibit C (B) Properties included in the Land and Land Held for Resale balances were returned to the Successor Agency effective September 30, 2012. City of Huntington Beach Redevelopment Successor Agency Pursuant to AB 1484-All Other Funds Exhibit C-2 Legally Restricted Amounts Original Submitted to DOF Revised Exhibit 9/30/2012 6/30/2012 PERIOD OF PURPOSE/DOC SOURCE/LEGAL ITEM DESCRIPTION ACCOUNT AMOUNT AMOUNT DOCUMENT RESTRICTION A Unspent Bond Proceeds None ' B Grant proceeds and program income None - C Other assets/Debt service 1999 Tax Allocation Bonds Official Statement a 1999 TABS Bond Reserve held with Fiscal Agent $ 753,775 $ 754,499 dated January 12, 1999 debt reserve funds August 1,2024 2002 Tax Allocation Bonds Official Statement b 2002 TABS Bond Reserve held with Fiscal Agent $ 1,668,838 $ 1,963,099 dated June 19,2002 debt reserve funds August 1,2024 Total $ 2,422,613 $ 2,717,598 City of Huntington Beach Redevelopment Successor Agency Exhibit C-3 Pursuant to AB 1484-All Other Funds Non Liquid Assets-All Other Funds Original Submitted to DOF Revised Exhibit VALUE METHOD 9/30/2012 6/30/2012 (COST OR ITEM DESCRIPTION AMOUNT AMOUNT MARKET) A Capital Assets 1 10 foot remnant $ 259,000.00 $ - (B) Cost 2 Surf Museum,411 Olive Avenue 286,301.00 - (B) Cost 3 Gothard/Center(Westminster Parcel) 465,059.00 - (B) Cost 4 Waterfront 14,023,000.00 - (B) Cost B Land Held for Resale 1 Center Ave.near McFadden(A) 1,084,074.00 - (1B) Cost 2 South side of Edinger Avenue and East of Parkside 664,582.00 - (1B) Cost 3 Northwest corner of Aldrich and Parkside 753,180.00 - (1B) Cost 4 7872 Edinger Avenue 3,476,267.00 - (B) Cost C Long Term Receivables 1 Auto BID Loan Receivable 43,572.00 40,156.00 2 NF Huntington Loan Receivable 115,416.00 82,572.00 Total $ 21,170,451.00 $ 122,728.00 (A) Currently under construction as a public skate park (B) Properties included in the Land and Land Held for Resale balances were returned to the Successor Agency effective September 30,2012. Refer to Exhibit C-3 for a detailed listed of the properties. Summary- Exhibit C-4 Summary of 5 Year Cash Flow/RPTTF Funding Forecast Successor Agency to Huntin ton Beach Redevelopment Agency 1 2 3 5 6 7 8 9 10 11 12 Certificate of Compliance Less Debt Service, Bond Fees,Loan Less SERAF Less ROPS Less City Emerald Semi Annual Repayments,Other Less Admin Subtotal 2009/2010 Items 41-49 Less City GF Cove Land Subtotal Transfer From 80% Fiscal Year Payment Date Property Tax Costs&Unpaid Allowance Over/(Under) Repayment Repayment Loan Repayment Repayment Over/(Under) Funds Annual Distribution Pass Throughs 2011-12 Jan-12 8,260,099 7,457,973 250,000 552,126 552,126 552,126 2012-13 Jun-12 3,428,586 5,580,531 - (2,151,945) (2,151,945) (2,151,945) Jan-13 7,012,392 13,613,218 304,106 6,904,932) (6,904,932) 6,494,023 410,909) 2013-14 Jun-13 4,106,000 1,879,905 125,000 2,101,095 - 2,101,095 - 2,101,095 Jan-14 7,970,000 4,773,775 143,213 3,053,012 1,526,505 1,526,507 1,526,507 2014-15 Jun-14 4,106,000 4,074,301 125,000 (93,301) - (93,301) (93,301) Jan-15 7.970,000 3,274,560 125,000 4,570,440 2,285,218 2,285,222 2,285,222 2015-16 Jun-15 4,106,000 3,202,629 125,000 778,371 272,221 93,571 412,578 412,578 Jan-16 7,970,000 4,405,242 132,157 3,432,600 - 1,373,040 2,059,560 2,059,560 2016-17 Jun-16 4,106,000 3,240,114 125,000 740,886 296,354 444,532 444,532 Jan-17 7,970,000 4,443,626 133,309 3,393,066 1,357,226 2,035,840 2,035,840 2017-18 Jun-17 4,308,000 3,278,513 125,000 904,487 361,794 542,692 542,692 Jan-18 8,363,000 4,494,260 134,828 3,733,912 - 1,493,565 2,240,347 2,240,347 Prepared by Keyser Marston Associates,Inc. 15 Filename:HB_CF_2013-01-09_Scenario2.Summary 1/9/2013:GSH Page 1 of 1 Table 7 Exhibit C-4(Continued) Cash Flow/RPTTF Funding Forecast Successor Agency to Huntin ton Beach Redevelopment Agency 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Certificate of Completion Received Less C4 Loan Agency Less SERAF Less ROPS Repayment Semx Ann.d Other Loan Unpad Pass Expenditures Oct Subtotal Overl 20092010 Items41-49 Less City GF Emerald Cove Land Subtotal Over/ Transfer From RwA Year Payment Date Property Tax Bond Debt SeNoe Bond Fees Repayments Other Costs Throughs Admin AJowenoe 201 Wen 2012 Costs Subtotal (Under) Repayment Repayment Loan Repayment OPA (Under) 80%Funds Annual Distribution 2011-12 Jan-12 8,260,099 2,794,176 376,786 753,510 692,378 2,653,000 250,000 188,123 7,707,973 552,126 - - - - 552,126 552,126 2012-13 Jun-12 3,428,586 2,689,152 371,708 2,045,779 473,892 - - - 5,580,531 (2,151,945) - - - - (2,151,945) (2,151,945) Jan-13 7,012,392 3,216,671 1,577,060 1,998,487 6,821,000 304,106 13,917,324 (6,904,932) - (6,904,932) 6,494,023 (410,909) 2013-14 Jun-13 4,106,000 - 734,936 942,420 202,549 - 125,000 - 2,004,905 2,101,095 - - - - 2,101,095 - 2,101,095 Jan-14 7,970,000 3,237,642 5,160 1,496,008 34,965 - 143,213 - 4,916,988 3,053,012 1,526,505 - - - 1,526,507 - 1,526,507 2014-15 Jun-14 4,106,000 - 734,936 3,163,504 175,861 - 125,000 - 4,199,301 (93,301) - - - - (93,301) - (93,301) Jan-15 7,970,000 3,248,400 5,160 6,000 15,000 - 125,000 - 3,399,560 4,570,440 2,285,218 - - - 2,285,222 - 2,285 222 2015-16 Jun-15 4,106,000 - 734,936 2,310,534 157,159 - 125,000 - 3,327,629 778,371 272,221 93,571 - - 412,578 - 412,578 Jan-16 7,970,000 3,287,963 5,160 1,112,119 - - 132,157 - 4.537,400 3,432,600 - 1,373,040 - - 2,059,560 - 2,059560 2016-17 Jun-16 4,106,000 - 734,936 2,342,492 162,686 - 125,000 - 3,365,114 740,886 - 296,354 - - 444,532 - 444,532 Jan-17 7,970,000 3,302,033 5,160 1,136,433 - - 133,309 - 4,576,934 3,393,066 - 1,357,226 - - 2,035,840 - 2,035,840 2017-18 Jun-17 4,308,000 - 734,936 2,375,089 168,488 - 125,000 - 3,403,513 904,487 - 361,794 - - 542,692 - 542692 Jan-18 8,363,000 3,318,868 5,160 1,155,233 15,000 - 134,828 - 4,629,088 3,733,912 - 1,493,565 - - 2,240,347 - 2,240,347 2018-19 Jun-18 4,308,000 - - 2,402,337 174,581 - 125,000 - 2,701,918 1,606,082 - 642,433 - 963,649 - 963,649 Jan-19 8,363,000 3,345,647 5,160 1,180,528 - - 135,940 - 4,667,275 3,695,725 - 1,478,290 - - 2,217,435 - 2,217,435 2019-20 Jun-19 4,308,000 - 2,436,251 180,978 - 125,000 - 2,742,229 1,565,771 - 626,308 - - 939,463 - 939,463 Jan-20 8,363,000 1,878,666 5,160 1,206,330 - - 125,000 - 3,215,156 5,147,844 - 2,059,138 - - 3,088,706 - 3,088,706 2020-21 Jun-20 4,308,000 - - 2,470,843 187,696 - 125,000 - 2,783,539 1,524,461 - 609,784 - - 914,677 - 914,677 Jan-21 8,363,000 1,875,425 5,160 1,232,648 15,000 - 125,000 - 3,253,233 5,109,767 - 2,043,906 - - 3,065,861 - 3,065,861 2021-22 Jun-21 4,308,000 - - 2,506,127 194,749 - 125,000 - 2,825,876 1,482,124 - 592,850 - - 889,275 - 889,275 Jan-22 8,363,000 1,468,250 5,160 1,259,492 - - 125,000 - 2,857,902 5,505,098 - 2,202,038 - - 3,303,060 - 3,303,060 2022-23 Jun-22 4,308,000 - - 2,542,116 202,154 - 125,000 - 2,869,270 1,438,730 - 575,491 - - 863,238 - 863,238 Jan-23 8,363,000 1,469,250 5,160 1,28E 873 - - 125,000 - 2,886,283 5,476,717 - 2,190,686 - - 3,286,030 - 3,286,030 2023-24 Jun-23 4,308,000 - - 2,578,825 209,930 - 125,000 - 2,913,755 1,394,245 - 557,698 - - 836,547 - 836,547 Jan-24 8,363,000 1,197,000 5,160 1,314,802 15,000 - 125,000 - 2,656,962 5,706,038 - 2,282,415 - - 3,423,623 - 3,423,623 2024-25 Jun-24 4,308,000 - - 2,616,269 218,095 - 125,000 - 2,959,364 1,348,636 - 539,454 - - 809,182 - 809,182 Jan-25 8,360,000 1,168,500 5,160 1,343,269 - - 125,000 - 2,641,949 6,721,051 - 2,288,420 - - 3,432631 - 3,432,631 2025-26 Jun-25 4,308,000 - - 2,020,528 226,668 - 125,000 - 2,372,196 1,935,804 - 774,321 - - 1,161,483 - 1,161,483 Jan-26 8,363,000 - - 1,372,346 - - 125,000 - 1,497,346 6,865,654 - 2,746,262 - - 4,119,392 - 4,119,392 2026-27 Jun-26 4,308,000 - - 752,479 235,670 - 125,000 - 1,113,149 3,194,851 - 1,277,940 - - 1,916,911 - 1,916,911 16 Prepared by Keyser Marston Associates,Inc. Filename HB CF 2013-01-09 Scenario2:CashFlowAlt.1/9/2013 GSH:Page 1 of 4 Table 1 Exhibit C-4(Continued) Cash Flow/RPTTF Funding Forecast Successor Agency to Huntin ton Beach Redevelopment Agency 1 2 3 4 5 6 7 a 9 10 11 12 13 14 15 16 17 Certificate of Completion Received Less City Loan Agency Less SERAF Less ROPS Repayment Semi Annual Other Loan Unpaid Pass Expendrtun-Oct Subtotal Over/ 20092010 Items 41-49 Less City GF Emerald Cove Land Subtotal Over/ Transfer From Fiscal Year Payment Data Property Tax Bond Debt Service Bond Fees Repayments Other Costs Throughs Admm Abwance 2011-Jan 2012 Costs Subtotal (Under) Repayment Repayment Lam Repayment OPA (Under) 80%Funds Annual Distribution Jan-27 8,363.000 - - 1,401,984 15,000 - 125.000 - 1,541,984 6,821,016 - 2,728,406 - - 4,092,610 - 4,092.610 2027-28 Jun-27 4,308,000 - 752,479 245,122 - 125,000 - 1,122601 3,165,399 - 1,274,159 - - 1,911,240 - 1,911,240 Jan-28 8,363,000 - 1,432,215 - - 125,000 - 1,557,215 6,805,785 - 2,722,314 - - 4,083,471 - 4,083,471 2028-29 Jun-28 4308,000 - - 752,479 255.046 - 125,000 - 1,132,525 3,175,475 - 1.270.190 - - 1,905,285 - 1.905.285 Jan-29 8,363,000 - - 1,463,050 - - 125,000 - 1,588,050 6,774,950 - 2,709,979 - - 4,064,970 - 4,064,970 2029-30 Jun-29 4,308,000 - - 752,479 265,467 - 125,000 - 1,142,946 3,165,054 - 1,266,022 - - 1,899,033 - 1,899,033 Jan-30 8,363,000 - - 1,494,503 15,000 - 125,000 - 1,634,503 6,728,497 - 2,691398 - - 4,037,099 - 4,037,099 2030-31 Jun-30 4,308,000 - - 752,479 276,408 - 125,000 - 1,153,887 3.154.113 - 1,261,645 - - 1,892,468 - 1,892,468 Jan-31 8.363,000 - - 1,526,584 - - 125,000 - 1.651,584 6,711,416 - 2,684,566 - - 4,026,850 - 4,026,850 2031-32 Jun-31 4,308,000 - - 752,479 287,897 - 125,000 - 1,165,376 3,142,624 - 1,257049 - - 1,885,575 - 1,885,575 Jan-32 8,363,000 - - 1,559 307 - - 125,000 - 1,684,307 6,678,693 - 2,671,477 - - 4,007,216 - 4,007,216 2032-33 Jun-32 4,308,000 - - 752.479 299,960 - 125,000 - 1,177,439 3,130,561 - 1,252,224 - - 1,878,337 - 1.878,337 Jan-33 8,363,000 - - 1,592,684 15,000 125,000 1,732,684 6,630 316 - 2,652,126 - - 3,978,190 - 3,978,190 2033-34 Jun-33 4,308,000 - - 750,675 312,627 - 125,000 - 1,188,302 3,119,698 - 1,247,879 - - 1,871,819 - 1,871,819 Jan-34 8,363,000 - - 532.514 - - 125,000 - 657,514 7,705,486 - 3,082,194 - - 4.623,292 - 4,623,292 2034J5 Jun-34 4308,000 - - - 325,926 - 125,000 - 450.926 3,857,074 - 1,542.829 - - 2.314.245 - 2,314,245 Jan-35 8,363,000 - - - - - - - - 8,363,000 - 3,345,200 - - 5,017,800 - 5,017,800 2035-36 Jun-35 4,308,000 - - - 339.891 - 125,000 - 464,891 3,843,109 - 1,537,243 - - 2,305,866 - 2,305.866 Jan-36 8,363,000 - - - 15,000 - 125,000 - 140,000 8.223.000 - 3,289,200 - - 4,933,800 - 4,933,800 2036-37 Jun-36 2,227,000 - - - 354,554 - 125,000 - 479,554 1,747,446 - 698,978 - - 1,048,468 - 1,048,468 Jan-37 4,323,000 - - - - - - - - 4,323,000 - 1,729,200 - - 2,593,800 - 2,593,800 2037-38 Jun-37 - - - - 369,950 - 125,000 - 494,950 (494,950) - - - - (494,950) - (494,950) Jan-38 _ _ _ _ _ _ _ _ _ 0 _ _ _ _ 0 _ 0 Total Funds Needed 6,494,023 17 Prepared by Keyser Marston Associates,Inc. Filename:HB CF 2013-01-09 ScenadcZ CashFiowAlt 119/2013:GSH Page of 4 Table 2 Exhibit C-4(Continued) Cash Flow/RPTTF Funding Forecast-Funds On Hand Successor Agency to Huntington Beach Redevelopment Agency 18 19 20 21 22 23 Funds On Hand-80%Tax Increment Revenues(Excluding Bond Proceeds) Payment Beginning Annual hterest Transferred Use for ROPS Transfer to Fiscal Year Date Balanos Eamigs Pmweds Funding Taring Entities Ending Balance 0.525% as of 9/30/2012 6,494,D23 - - - 6494,023 2012-13 Jan-13 6,494,023 (6,494,023) D Jun-13 - - - 0 0 - 2013-14 Jan-14 - - - 0 D - Jun-14 - - 0 0 - 2014-15 Jan-15 - - - 0 0 Jun-15 - - - 0 0 2015-16 Jan-16 - - - 0 D - Jun•16 - - - 0 0 - 2016-17 Jan-17 - - - 0 0 - Jun-17 - - - 0 0 - 2017-18 Jan-18 - - - 0 0 - Jun-18 - - - 0 0 2018-19 Jan-19 - - - 0 0 - Jun-19 - - - 0 0 2019-20 Jan-20 - - - 0 0 Jun-20 - - - 0 0 - 2020-21 Jan-21 - - - 0 0 Jun-21 - - - 0 0 2021-22 Jan-22 - - 0 0 Jun-22 - - - 0 0 - 2022-23 Jan-23 - - - 0 0 - Jun-23 - - - 0 0 - 2023-24 Jan-24 - - - 0 0 Jun-24 - - - 0 0 2024-25 Jan-25 - - - 0 0 - Jun-25 - - - 0 0 - 2025-26 Jan-26 - - 0 0 - Jun-26 - - 0 0 - Prepared by Keyser Marston Associates,Inc. 18 Filename:HB CF 2013-01-09 Scenario2 CashRow Alt:11912013:GSH Page 3 of 4 Table z Exhibit C-4(Continued) Cash Flow/RPTTF Funding Forecast-Funds On Hand Successor Agency to Huntington Beach Redevelopment Agency 18 19 20 21 22 23 Funds On Hand-80%Tax Increment Revenues(Excluding Bond Proceeds) Payment Beginnng Annual Interest Transfened Use for POPS Transfer to Fucal Year Date Balance Earnings Proceeds Funding Tmg Enlites Ending Balance 0.525% 2026-27 Jan-27 - - - 0 0 - Jun-27 - - - 0 0 - 2027-28 Jan-28 - - 0 0 - Jun-28 - - - 0 0 2028-29 Jan-29 0 0 Jun-29 - - 0 0 - 202930 Jan-30 - - - 0 0 - Jun-30 - - - 0 0 - 203031 Jan-31 - - - 0 0 - Jun-31 - - - 0 0 - 2031-32 Jan32 - - - 0 0 Jun-32 - - 0 0 - 203233 Jan-33 - - - 0 0 - Jun-33 - - 0 0 2033-34 Jan-34 - - - 0 0 - Jun-34 - - - 0 0 - 203435 Jan-35 - - 0 0 - Jun-35 - - - 0 0 - 2035-36 Jan-36 - - - 0 0 Jun-36 - - - 0 0 - 2036-37 Jan-37 - - - 0 0 - Jun-37 - - - 0 0 - 2036-37 Jan-38 - - - 0 0 - Totals (6,494.023) 0 19 Prepared by Keyser Marston Associates,Inc. Filename:HB CF 2013-01.09 Scenario2 CashFlow Alt:1/9/2013:GSH Page 4 of 4 Table 3 Cash Flow/RPTTF Funding Exhibit C-4(Continued) Forecast-Enforceable Obligations Based on ROPS 3 Successor Agency to Huntington Beach Redevelopment Agency 1 2 3 4 5 6 7 6 9 10 11 12 13 14 15 ROPS3 Line Item 3.00 4.00 12.00 13.00 2.00 5.00 6.00 7.00 8.00 9.00 10.00 11.00 ROPS1 Enforceable Obligation Description Emerald Cove 2010 HUD Sec 108 ROPS7.2002 TAB Ser A Lease Rev Infrastructure Loan Hyatt Regency 2002 TAB Arbitrage 1999 TAB Arbitrage 2002 TAB IRS 2002 TAB 1999 TAB AMBAC Master Refunding Bonds Hyatt Hilton Bank of DDA Robert Mayer Compliance Rebate Compliance Rebate Arbitrage Rebate 2002 TAB Fiscal 1999 TAB Fiscal Continuing Continuing Repurchase 2002 TAB 1999 TAB (Scenario 2) NY Mellon Bond Debt Service Corp Calculation Calculation Payment Agent Fee Agent Fee Disclosure Disclosure Agreement Bond Fees Amount Outstanding per ROPS3 $ 16,329,113 $ 7,472,947 $ 3,649,634 $ 3,025,000 $ 30,476,694 $ 5,433,057 $ 500 $ 500 $ 528,754 $ 1,537 $ 848 $ 250 $ 1,525 - $ 5,966,971 Termination Date 8/112024 8/l/2024 9/1Y2021 8/l/2019 - 9/30/2023 11/17/2013 111172013 8/112016 8/112024 8/l/2024 7172012 7/7/2012 - - 2011-12 ROPSI Jar-121 1.635,738 1 748,088 1 410,350 2,794,176 368,626 500 500 1,537 84B 250 1,525 3,000 376,786 2012-13 ROPS2 Jun-12 1,315,369 599,044 404,564 370,175 2,689,152 367,896 500 - 1,537 - 250 1,525 - 371,708 ROPS3 Jan-13 1,640,938 743,289 404,932 427,512 3,216,671 1,043,146 500 500 528,754 1,537 848 250 1,525 - 1,577,060 2013-14 Jun-13 - - - - - 734,936 - - - - - - - 734,936 Jan-14 1,638,038 747,364 404,419 447,822 3,237,642 - 500 500 - 1,537 848 250 1,525 - 5,160 2014-15 Jun-14 - - - - - 734,936 - - - - - - - - 734,936 Jan-15 1,627,138 749,824 405,367 466,072 3,248,400 - 500 500 - 1,537 848 250 1,525 - 5,160 2015-16 Jun-15 - - - - - 734,936 - - - - - - - - 734,936 Jan-16 1,644,750 750,617 405,324 487,272 3,287,963 - 500 500 - 1,537 848 250 1,525 - 5,160 2016-17 Jun-16 - - - - - 734,936 - - - - - - - - 734,936 Jan-17 1,640,750 749,699 405,750 505,834 3,302,033 - 500 500 - 1,537 848 250 1,525 - 5,160 2017-18 Jun-17 - - - - - 734,936 - - - - - - - - 734,936 00 752,155 405, Jan-18 1,639,0285 522,448 3,318,868 - 500 500 - 1.537 848 250 1,525 - 5,180 2018-19 Jun-18 - - - - - - - - - - Jan-19 1,649,250 753,000 406,237 537,160 3,345,647 - 500 Soo - 1,537 848 250 1,525 - 5,160 2019-20 Jun-19 - - - - - - - - - - - Jan-20 1,010,750 461,750 406,166 - 1,878,666 - Soo 500 - 1,537 848 250 1,525 - 5,160 2020-21 Jun-20 - - - - - - - - - - - - Jan-21 1,010,750 458,500 406,175 - 1,875,425 - Soo Soo - 1,537 848 250 1,525 - 5,160 2021-22 Jun-21 - - - - - - - - - Jan-22 1,003,750 464,500 - - 1,468,250 - 500 500 - 1,537 84B 250 1,525 - 5,160 2022-23 Jun-22 - - - - - - - - - - - Jan-23 1,005,000 484,250 - - 1,469,250 - 500 Soo - 1,537 848 250 1,525 - 5,160 2023-24 Jun-23 - - - - - - - - - - - Jan-24 819,000 378,000 - - 1,197,000 - Soo Soo - 1,537 848 250 1,525 - 5,160 2024-25 Jun-24 - - - - - - - - - - - - Jan-25 799,500 369,000 - - 1,168,500 - 500 500 - 1,537 848 250 1,525 - 5,160 2025-26 Jun-25 - - - - - - - - - - - - Jan-26 2026-27 Jun-26 - - - - - - - - - Source:ROPS3,ROPS2 and ROPS1 20 Prepared by Keyser Marston Associates,Inc. Filename:HB_CF_2013-01-09_Scenado2:Expenses:1/9/2013.GSH:Page 1 of 16 Table 3 Cash Flowl RPTTF Funding Exhibit C-4(Continued) Forecast-Enforceable Obligations Based on ROPS 3 Successor Agency to Huntington Beach Redevelopment Agency 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 ROPS3 Line Item 3.00 4.00 12.00 13.00 2.00 5.00 8.00 7.00 8.00 9.00 10.00 11.00 ROPS1 Enforceable Obligation Description Emerald Cove 2070 HUD Sec 108 ROPS1:2002 TAB Ser A Lease Rev Infrastructure Loan Hyatt Regency 2002 TAB Arbitrage 1999 TAB Arbitrage 2002 TAB IRS 2002 TAB 1999 TAB AMBAC Master Refunding Bonds Hyatt Hilton Bank of DDA Robert Mayer Compliance Rebate Compliance Rebate Arbitrage Rebate 2002 TAB Fiscal 1999 TAB Fiscal Continuing Continuing Repurchase 2002 TAB 1999 TAB (Scenario 2) NY Mellon Bond Debt Service Corp Calculation Calculation Payment Agent Fee Agent Fee Disclosure Disclosure Agreement Bond Fees Amount Outstanding per ROPS3 $ 16,329,113 $ 7,472,947 $ 3,649,634 $ 3,025,000 $ 30,476,694 $ 5,433,057 $ 500 $ 500 $ 528,754 $ 1,537 $ 848 $ 250 $ 1,525 — $ 5,966,971 Termination Dale 8/112024 8/1/2024 9/112021 8/1/2019 — 9/30/2023 11/17/2013 11/17/2013 8/1/2016 8/12024 a112024 7/7/2012 717/2012 — — Jan-27 - - - - - - - - - - - - 2027-28 Jun-27 - - - - - - - - - - - Jan-28 2026-29 Jun-28 - - - - - - - - - - - - Jan-29 - - - - - - - - - - - - - 2029-30 Jun-29 - - - - - - - - - Jan-30 2030-31 Jun-30 - - - - - - - - - - - - Jan-37 - - - - - - - - - - - - 2031-32 Jun-31 - - - - - - - - - - - - Jan-32 2032-33 Jun-32 - - - - - - - - - - - Jan-33 - - - - - - - - 2033-34 Jun-33 - - - - - - - - - - Jan-34 - - - - - - - - - - - - - 2034-35 Jun-34 - - - - - - - - - - - Jan-35 - - - - - - - - - - - 2035-36 Jun-35 - - - - - - - - - - Jan-36 - - - - - - - - - 2036-37 Jun-36 - - - - - - - - - - - - Jan-37 - 2037-38 Jun-37 - - - - - - - - - - Jan-38 - - - - - - - - - - - TOTALS 20,079,720 9,189,079 4,054,198 4,174,645 37,497,642 5,454,348 7,500 7.000 528,754 23,055 11,872 3,750 22,875 3.000 6,062,154 Source:ROPS3,ROPS2 and ROPS1 21 Prepared by Keyser Marston Associates,Inc. Filename:HB_CF_2013-01-09_Scenario2:Expenses:119/2013:GSH:Page 2 of 16 Table 3 Cash Flow/RPTTF Funding Exhibit C-4(Continued) Forecast-Enforceable Obligations Based on ROPS 3 Successor Agency to Huntington Beach Redevelopment Agency 16 17 18 19 20 21 22 23 24 25 26 27 28 29 ROPS3 Line Item 1.00 14.00 15,00 16.00 21.00 29.00 30.00 32.00 ROPS1 19.00 20.00 ROPSS Land Sale Emerald Enforceable Obligation Description Cove OPA Loan Strand Hotel& Bella Terra Ph 11 Operative ROP81:City Certificate of Repayment Mixed Use Parking Pacific City OPA Abdelmud OPA Bella Terra Parking Affordable Hsg Agreement Operative Completion Disallowed Pending&Infrastructure CIM Strand Additional Maker Properties& Rent Differential Infrastructure PTax Agreement(BTDJM Huntington Beach Agreements Subtotal of Other SERAF Debt SERAF Debt City GF Loan Total Other Loan Cart of Completion Group&KBB Parking CIM Group KBB Agreement Sharing &KBB) RP(Disallowed) (Various) Loan Repayments Obligation 2009 Obligation 2010 Repayments Repayments Amount Outstanding per ROPS3 $ 5,676,433 $ 13,344,723 $ 1,039,285 $ 5,520,000 $ 6,000 $ 13,847,382 $ 27,438,830 $ 283,211 - $ 67,155,864 $ 3,331,300 $ 703,413 $ 17,512,346 $ 88,702,922 Termination Date 10/1/2030 9/30/2033 9/30/2033 FY 2030-31 12/31/2017 9/30/2025 7/1/2036 10/1/2030 - - FY 2014-15 FY 2015-16 - - 2011-12 ROPS1 Jan-12 677,903 1 49,576 4,812 - - 21,2191 753,510 - - - 753,510 2012-13 ROPS2 Jun-12 1 685,4031 49,5761 20,000 1 6,0001 1,277,600 7,200 - 2,045,779 - - - 2,045,779 ROPS3 Jan-13 1 702,9031 49,576 1 20,0001 6,0001 1,210,0081 10,0001 1,998,487 - - - 1,998,487 2013-14 Jun-13 - 702,903 49,576 - 6,000 183,941 - - - 942,420 942,420 Jan-14 - - - - 6,000 1,490,008 - - - 1,496,008 1,526,505 - - 3,022,513 2014-15 Jun-14 - 702,903 49,576 - 6,000 1,520,724 $84,301 - - 3,163,504 - - - 3,163,504 Jan-15 - - - - 6,000 - - - - 6,000 1,841,468 443,750 - 2,291,218 2015-16 Jun-15 - 702,903 49,576 - 6,000 1,552,055 - - - 2,310,534 - 272,221 - 2,582,755 Jan-16 - - - - 6,000 - 1,106,119 - - 1,112,119 - - - 1,112,119 2016-17 Jun-16 - 702,903 49,576 - 6,000 1,584,013 - - - 2,342,492 - - - 2,342,492 Jan-17 - - - - 6,000 - 1,130,433 - - 1,136,433 - - - 1,136,433 2017-18 Jun-17 - 702,903 49,576 - 6,000 1,616,610 - - - 2,375,089 - - - 2,375,089 Jan-18 - - - - - - 1,155,233 - - 1,155,233 - - - 1,155,233 2018-19 Jun-18 - 702,903 49,576 - - 1,649,858 - - - 2,402,337 - - - 2,402,337 Jam-19 - - - - - - 1,180,528 - - 1,180,528 - - - 1,180,528 2019-20 Jun-19 - 702,903 49,576 - - 1,683,772 - - - 2,436,251 - - - 2,436,251 Jam-20 - - - - - - 1,206,330 - - 1,206,330 - - - 1,206,330 2020-21 Jun-20 - 702,903 49,576 - - 1,718,364 - - - 2,470,843 - - - 2,470,843 Jan-21 - - - - - - 1,232,648 - - 1,232,648 - - - 1,232,648 2021-22 Jur1-21 - 702,903 49,576 - - 1,753,648 - - - 2,506,127 - - - 2,506,127 Jan-22 - - - - - - 1,259,492 - - 1,259,492 - - - 1,259,492 2022-23 Jun-22 - 702,903 49,576 - - 1,789,637 - - - 2,542,116 - - - 2,542,116 Jan-23 - - - - - - 1,286,873 - - 1,286,873 - - - 1,286,873 2023-24 Jun-23 - 702,903 49,576 - - 1,826,346 - - - 2,578,825 - - - 2,578,825 Jan-24 - - - - - - 1,314,802 - 1,314,802 - - - 1,314,802 2024-25 Jun-24 - 702,903 49,576 - - 1,863,790 - - - 2,616,269 - - - 2,616,269 Jan-25 - - - - - - 1,343,289 - - 1,343,289 - - - 1,343,289 2025-26 Jun-25 - 702,903 49,576 - - 1,268,049 - - - 2,020,528 - - - 2,020,528 Jan-26 - - - - - - 1,372,346 - - 1,372,346 - - - 1,372,346 2026-27 Jun-26 - 702,903 49,576 - - - - - - 752,479 - - - 752,479 Source:ROPS3,ROPS2 and ROPS1 22 Prepared by Keyser Marston Associates,Inc. Filename:HB_CF_2013-01-09_Scenario2:Expenses:1/9/2013:GSH:Page 3 of 16 Table 3 Cash Flow/RPTTF Funding Exhibit C-4(Continued) Forecast-Enforceable Obligations Based on ROPS 3 Successor Agency to Huntington Beach Redevelopment Agency 16 17 18 19 20 21 22 23 24 25 26 27 28 29 ROPS3 Lire Item 1.00 14.00 15.00 16.00 21.00 29.00 30.00 32.00 ROPS1 19.00 20.00 ROPS5 Land Sale Emerald Enforceable Obligation Desorption Cove OPA Loan Strand Hotel& Bella Terra Ph 11 Operative ROPS1 City Certificate of Repayment Mixed Use Parking Pacific City OPA Abdelmudi OPA Bella Terra Parking Affordable Hsg Agreement Operative Completion Disallowed Pending &Infrastructure CIM Strand Additional Makar Properties& Rent Differential Infrastructure PTax Agreement(BTDJM Huntington Beach Agreements Subtotal of Other SERAF Debt SERAF Debt City GF Loan Total Other Loan Carl of Completion Group&KBB Parking CIM Group KBB Agreement Sharing &KBB) RP(Disc lowed) (Various) Loan Repayments Obligation 2009 Obligation 2010 Repayments Repayments Amount Outstanding per ROPS3 $ 5,676,433 $ 13,344,723 $ 1,039,285 $ 5,520,000 $ 6,000 $ 13,847,382 $ 27,438,830 $ 283,211 - $ 67,155,864 $ 3,331,300 $ 703,413 $ 17,512,346 $ 88,702,922 Termination Date 10/l/2030 9/30/2033 9/30/2033 FY 2030,31 12/31/2017 9MI2025 7/l/2036 10/l/2030 - - FY 2014-15 FY 2015-16 - - Jan-27 - - - - - - 1,401,984 - - 1,401,984 - - - 1,401,984 2027-29 Jun-27 - 702,903 49,576 - - - - - - 752,479 - - - 752,479 Jan-28 - - - - - - 1,432,215 - - 1,432,215 - - - 1,432,215 2028-29 Jun-28 - 702,903 49,576 - - - - - - 752,479 - - - 752,479 Jan-29 - - - - - - 1,463,050 - - 1,463,050 - - - 1,463,050 2029-30 Jun-29 - 702,903 49,576 - - - - - - 752,479 - - - 752,479 Jan-30 - - - - - - 1,494,503 - - 1,494,503 - - - 1,494,503 2030-31 Jun-30 - 702,903 49,576 - - - - - - 752,479 - - - 752,479 Jan-31 - - - - - - 1,526,584 - - 1,526,584 - - - 1,526,584 2031-32 Jun-31 - 702,903 49,576 - - - - - - 752,479 - - 752,479 Jan-32 - - - - - - 1,559,307 - - 1,559,307 - - - 1,559,307 2032-33 Jun-32 - 702,903 49,576 - - - - - - 752,479 - - - 752,479 Jan-33 - - - - - - 1,592,684 - - 1,592,684 - - - 1,592,684 2033-34 Jun-33 - 702,903 47,772 - - - - - - 750,675 - - - 750,675 Jan-34 - - - - - - 532,514 - - 532,514 - - - 532,514 2034-35 Jun-34 - - - - - - - - - Jan-35 - - - - - - - 2035-36 Jun-35 - - - - - - - - - Jan-36 - 2036-37 Jun-36 - Jan-37 2037-38 Jun-37 - Jan-38 - - - - - - - - - TOTALS - 16,827,172 1,188,020 40,000 70,812 23,988,423 25,492,435 21,219 - 67,628,081 3,367,973 715,971 71,712,025 Source:ROPS3,ROPS2 and ROPS1 23 Prepared by Keyser Marston Associates,Inc. Filename:HB_CF_2013-01-09_Scenario2:Expenses:1/9/2013:GSH:Page 4 of 16 Table 3 Cash Flow/RPTTF Funding Exhibit C-4(Continued) Forecast-Enforceable Obligations Based on ROPS 3 Successor Agency to Huntington Beach Redevelopment Agency 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 ROPS3 Line Item 17.00 18.00 22.D0 23.00 24.D0 25.00 26.00 27.D0 28.D0 31.00 33.00 34.00 35.00 36.00 37.00 Convenant Affordable Hsg Enforcement Enforceable Obligation Description Pacific City Very Compliance Affordable Hsg Public Agency Obligation for Successor Agency Assessment AES Employee Employee Employee Employee Low Income Units Amennational Jessica Latham Unfunded CePERS Unfunded Suppl Retirement Systems Unfunded OPEB Unused Employee Compliance per PTax Valuation Van Termination/Layoff Termination/Layoff Termination/Layoff Termination/Layoff Disallowed Disallowed Disallowed Pension(increased Retirement (PARS)Notes Liabilities CalPERS General Leave HSC 33433 Tierra Pierside Pavilion Horn Consulting Costs-Dissolution Costs-Dissolution Costs-Dissolution Costs Dissolution (Scenario 1) (Scenario 3) (Scenario 3) 5%per FY) Liabilities US Bank Payable &CERBT Earned&Vested West OPA Disallowed of RDA of RDA of RDA of RDA Amount Outstanding per ROPS3 $ 6,500,000 $ 75,000 $ 30,000 $ 2,674,172 $ 618,160 $ 60,035 $ 252,593 $ 124,391 $ 30.000 $ 4,000 $ 5,000 $ 16,393 $ 24,483 $ 75,328 $ 9,728 Termination Date FY 203D-31 712012013 212012013 NA NA 1 011 0/2 0 1 4 NA NA 4/30/2010 NA 3/21/2012 9/30/2011 9/30/2011 12/23/2011 9/30/2011 2011-12 ROPS1 Jan-12 - 1 75,000 1 0 1 0 1 0 1 - 1 0 - 10,000 i 5,000 - - - - 2012-13 ROPS2 Jun-12 37,500 15,0001 36,762 1 9,408 1 19,9651 2,880 1 - 29,675 1 4,500 1 2 5DO - - - ROPS3 Jan-13 6 500,000 1 95,476 1 28,952 1 19 965 1 6,222 1 111460 1 15,000 1 4,000 I - I 16,393 1 24,483 1 75,328 1 9,728 2013-14 Jun-13 - - - 100,250 28,952 19,965 6,222 11,460 - 4,ODO - - - - - Jan-14 - - - - 19,965 - - - - - - - 2014-15 Jun-14 - - - 105,262 28,952 19,965 6,222 11,460 - 4,ODO - - - - - Jan-15 - - - - - - - - 15,000 - - - - - - 2015-16 Jun-15 - - - 110,525 28,952 - 6,222 11,460 - - - - - - - Jan-16 - _ - - - - - - - - - 2016-17 Jun-16 - - - 116,052 28,952 - 6,222 11460 - - - - - - - 2017-18 Jun-17 - - - 121,854 28,952 - 6,222 11,460 - - - - - - - Jan-18 - - - - - - - - 15,000 - - - - - 2018-19 Jun-18 - - - 127,947 28,952 - 6,222 11,460 - - - - - - 2019-20 Jun-19 - - - 134,344 28,952 - 6,222 11,460 - - - - - - Jan-20 - - - - - _ - _ - 2020-21 Jun-20 - - - 141,062 28,952 - 6,222 11,460 - - - - - - - Jan-21 - - - - - - - - 15,000 - - - - - - 2021-22 Jun-21 - - - 148,115 28,952 - 6,222 11,460 - - - - - - - 2022-23 Jun-22 - - - 155,520 28,952 - 6,222 11,460 - - - - - - - 2023-24 Jun-23 - - - 163,296 28,952 - 6,222 11,460 - - - - - - Jan-24 - - - - - - - - 15,000 - - - - - - 2024-25 Jun-24 - - - 171,461 28,952 - 6,222 11,460 - - - - - - - 2025-26 Jun-25 - - - 180,034 28,952 - 6,222 11,460 - - - - - - - 2026-27 Jun-26 - - - 189,036 28,952 - 6,222 11,460 - - - - - - - Source:ROPS3,ROPS2 and ROPS1 24 Prepared by Keyser Marston Associates,Inc. Filename:HB_CF_2013-01-09_Scenario2:Expenses:1/9/2013:GSH:Page 5 of 16 Table 3 Cash Flow/RPTTF Funding Exhibit C-4(Continued) Forecast-Enforceable Obligations Based on ROPS 3 Successor Agency to Huntington Beach Redevelopment Agency 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 ROPS3 Line Item 17.00 18.00 22.00 23.00 24.00 25.00 26.00 27.00 28.00 31.00 33.00 34.00 35.00 36.00 37.00 Convenant Affordable Hsg Enforcement Enforceable Obligation Description Pacific City Very Compliance Affordable Hsg Public Agency Obligation for Successor Agency Assessment AES Employee Employee Employee Employee Low Income Units Amerinational Jessica Latham Unfunded CaIPERS Unfunded Suppl Retirement Systems Unfunded OPEB Unused Employee Compliance per PTax Valuation Van Termination(Layoff Termination/Layoff Termination/Layoff Termination/Layoff Disallowed Disallowed Disallowed Pension(Increased Retirement (PARS)Notes Liabilities CaIPERS General Leave HSC 33433 Tierra Pierside Pavilion Horn Consulting Costs-oissolution Costs-Dissolution Costs-oissolution Costs-Dissolution (Scenario 1) (Scenario 3) (Scenario 3) 5%per FY) Liabilities US Bank Payable &CERBT Earned&Vested West OPA Disallowed of RDA of RDA of RDA of RDA Amount Outstanding per ROPS3 $ 6,500,000 $ 75,000 $ 30,000 $ 2,674.172 $ 618,160 $ 60,035 $ 252,593 $ 124,391 $ 30,000 $ 4,000 $ 5,000 $ 16,393 $ 24,483 $ 75,328 $ 9,728 Termination Dale FY 2030-31 7/202013 21M2013 NA NA 10/102014 NA NA 4130/2010 NA 32112012 9/302011 9/30/2011 12/23/2011 9/30/2011 Jan-27 - - - - - - - - 15,000 - - - - - - 2027-28 Jun-27 - - - 198,488 28,952 - 6,222 11,460 - - - - - - - Jan-28 - - - - - - - - - - - - - 2028-29 Jun-28 - - - 208,412 28,952 - 6,222 11,460 - - - - - - - Jan-29 - - - - - - - - - 2029-30 Jun-29 - - - 218,833 28,952 - 6,222 11,460 - - - - - - - Jan-30 - - - - - - - - 15,000 - - - - - 2030-31 Jun-30 - - - 229,774 28,952 - 6,222 11,460 - - - - - - - Jan-31 - - - - - - - - - - - - - 2031-32 Jun-31 - - - 241,263 28,952 - 6,222 11,460 - - - - - - - Jan-32 - - - - - - - - - - - - - 2032-33 Jun-32 - - - 253,326 28,952 - 6,222 11,460 - - - - - - - Jan-33 - - - - - - - - 15,000 - - - - - - 2033-34 Jun-33 - - - 265,993 28.952 - 6,222 11,460 - - - - - - 2034-35 Jun-34 - - - 279,292 28,952 - 6,222 11,460 - - - - - - - Jan-35 - - - - - - - - - - - - - 2035-36 Jun-35 - - - 293,257 28,952 - 6,222 11,460 - - - - - - Jan-36 - - - - - 15,000 - - - - 2036-37 Jun-36 - - - 307,920 28,952 - 6,222 11,460 - - - - - - 2037-38 Jun-37 - - - 323,316 28,952 - 6,222 11,460 - - - - - - Jan-38 - - - - - - - - - - - - TOTALS 6.500,000 112,500 15,000 4,916,870 762,160 99,825 184,652 297,960 174,675 16,000 7,500 16,393 24,483 75,328 9,728 Source:ROPS3,ROPS2 and ROPS1 2$ Prepared by Keyser Marston Associates,Inc. Filename:HB_CF_2013-01-09_Scenario2:Expenses:1/9/2013:GSH:Page 6 of 16 Table 3 Cash Flow/RPTTF Funding Exhibit C-4(Continued) Forecast-Enforceable Obligations Based on ROPS 3 Successor Agency to Huntington Beach Redevelopment Agency 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 ROPS3 Line Item ROPS4 38.00 39.00 40.00 ROPS1&2 ROPS1&2 ROPS1&2 ROPS2 ROPS2 ROPS1 ROPS1&2 ROPS1 ROPS1 ROPS1 Legal Expenses SA Econ Analysis Compliance Services SA ROPSI&ROPS2. ROPSI ROPSI.Affordable Enforceable ONigatiion Description ABW6 and Compliance Covenant ROPS2.Covenant Independent Hog Compliance Unemplyment Litigation Expenses AB1484 Kane ABIX26 and Monitoring ROPS1&ROPS2 ROPS1&ROPS2 Enforcement for ROPS2:SA Financial Statement CRL 33413(b)(4) ROPSi:MOU Costs-Dissolution City of Palmdale Ballmer AB1484 KMA Obligations of Hsg Hsg Aulh Covenant Affordable Hsg Affordable Hsg- Compliance Nagaski ROPS1 SA ROPS1&ROPS2' &Audit Macias Gini and 3349(a)(2)&(3)Bargaining Unit Luis Subtotal of Other of RDA elal v Matosantos Disallowed Disallowed Auth Monitoring KMA Compliance KBB Grace Jones Esq &Assoc Compliance KMA Wildlife Care Center &O'Connell KBB Gomez Costs Amount Outstanding per ROPS3 - $ 13,993 $ 150,000 $ 20000 - - - - -- - - - - - $ 10,863,276 Termination Dale - 71812015 71812015 611512W3 - - - - -- -- - - - - - 2011-12 ROPS1 Jan-12 - - - - 229,801 150,000 150,000 40,236 3,000 0 27,841 0 0 1,500 692,378 2012-13 ROPS2 Jun-12 - 153,202 75,000 75,000 - 13,000 - - - - - 473,892 ROPS3 Jan-13 13,993 1 - - - - - - 6,821,000 2013-14 Jun-13 11,700 - - - - - - - 20,000 - - - - - 202,549 Jan-14 - - - - - - - - 15,000 - - - - - 34,965 2014-15 Jun-14 - - - - - - - - - - - - - - 175,861 Jan-15 - - - - - - - - - - - - - - 15,000 2015-16 Jun-15 - - - - - - - - - - - - - 157,159 2016-17 Jun-16 - - - - - - - - - - - - - - 162,686 Jan-17 - - - - - - - - - - - - - 2017-18 Jun-17 - - - - - - - - - - - - - - 168,488 Jan-18 - - - - - - - - - - - - - - 15,000 2018-1e Jun-18 - - - - - - - - - - - - 174,581 Jan-19 - - - - - - - - - - - - 2019-20 Jun-19 - - - - - - - - - - - - - 180,978 Jan-20 - - - - - - - - - - - - - 2020-21 Jun-20 - - - - - - - - - - - - - - 187,696 15,000 2021-22 Jun-21 - - - - - - - - - - - - - 194,749 Jan-22 - - - - - - - - - - - - - 2022-23 Jun-22 - - - - - - - - - - - - - 202,154 Jan-23 - - - - - - - - - - - - - - 2023-24 Jun-23 - - - - - - - - - - - - - 209,930 Jan-24 - - - - - - - - - - - - - 15,000 2024-25 Jun-24 - - - - - - - - - - - - - 218,095 Jan-25 - - - - - - - - - - - - - 2025-26 Jun-25 - - - - - - - - - - - - - 226,668 Jan-26 - - - - - - - - - - - - 2026-27 Jun-26 - - - - - - - - - - - - - 235,670 Source:ROPS3,ROPS2 and ROPS1 Zf> Prepared by Keyser Marston Associates,Inc. Filename:HB_CF_2013-01-09_Scenario2:Expenses:1/9/2013:GSH:Page 7 of 16 Table 3 Cash Flowl RPTTF Funding Exhibit C-4(Continued) Forecast-Enforceable Obligations Based on ROPS 3 Successor Agency to Huntington Beach Redevelopment Agency 45 46 47 46 49 50 51 52 53 54 55 56 57 58 59 ROPS3 Line Item ROPS4 38.00 39.00 40.00 ROPS1&2 ROPS1&2 ROPS1&2 ROPS2 ROPS2 ROPS1 ROPS1&2 ROPS1 ROPS1 ROPS1 Legal Expenses SA Eoon Analysis Compliance Services SA ROPS1&ROPS2. ROPS7: ROPS1.Affordable Enforceable Obligation Description AB 1X26 and Compliance Covenant ROPS2.Covenant Independent Hsg Compliance Unemplyment Litigation Expenses AB1484 Kane AB1X26 and Monitoring ROPS1&ROPS2 ROPS1&ROPS2', Enforcement for ROPS2'SA Financial Statement CRL 33413(b)(4) ROPS1:MOD Costs-Dissolution City of Palmdale Balmer AB1484 KMA Obligations of Hsg Hsg Auth Covenant Affordable Hsg Affordable Hsg- Compliance Nagaski ROPSt:SA ROPS1&ROPS2, &Audit Macias Girt and 3349(a)(2)&(3)Bargaining Unit Luis Subtotal of Other of RDA etal v Matosantos Disallowed Disallowed Auth Monitoring KMA Compliance KBB Grace Jones Esq &Assoc Compliance KMA Wildlife Care Center &O'Connell KBB Gomez Costs Amount Outstanding per ROPS3 — $ 13,993 $ 150,000 $ 200,000 — — — — — — — — — — $ 10,863,276 Termination Date — 7l8/2015 7/8/2015 6/1512013 — — — — — — — — — — — Jan-27 - - - - - - - - - - - - - - 15,000 2027-28 Jun-27 - - - - - - - - - - - - - - 245,122 - 2026-29 Jun-28 - - - - - - - - - - - - - - 255,046 - 2029-30 Jun-29 - - - - - - - - - - - - - - 265,467 Jan-30 - - - - - - - - - - - - - - 15,000 2030-31 Jun-30 - - - - - - - - - - - - - - 276,408 2031-32 Jun-31 - - - - - - - - - - - - - - 287,897 Jan-32 - - - - - - - - - - - - - - 2032-33 Jun-32 - - - - - - - - - - - - - - 299,960 Jan-33 - - - - - - - - - - - - - - 15,000 2033-34 Jun-33 - - - - - - - - - - - - - - 312,627 Jan-34 - - - - - - - - - - - - - - 2034-35 Jun-34 - - - - - - - - - - - - - - 325,926 2035-36 Jun-35 - - - - - - - - - - - - - - 339,891 15,000 2036-37 Jun-36 - - - - - - - - - - - - - - 354,554 Jan-37 - - - - - - - - - - - - - - - 2037-38 Jun-37 - - - - - - - - - - - - - - 369,950 TOTALS 11,700 13,993 - - 383,003 225,000 225,000 40,236 51,000 - 27,841 - - 1,500 Source:ROPS3,ROPS2 and ROPS1 27 Prepared by Keyser Marston Associates,Inc. Filename:HB_CF_2013-01-09_Scenario2:Expenses:1/9/2013:GSH Page 8 of 16 Table 3 Cash Flow/RPTTF Funding Exhibit C-4(Continued) Forecast-Enforceable Obligations Based on ROPS 3 Successor Agency to Huntington Beach Redevelopment Agency 60 61 62 63 64 65 66 67 68 69 70 71 72 ROPS3 Line Item 41.00 42.00 43.00 4400 45.00 46.00 47.00 48.00 49.00 Pierside Hotel Huntington Center Development of Third Block West Second Block Alley Retail&Parking Enforceable Obligation Description Land Right of Way Main Pier RP Ph II Downtown Main Pier Relocation,Property&Street Imp Project Strand Project Structure Relocation Waterfront Comml Strand Project Acq Costs Land Acquisition Land Aoq Acq&Project Costs Property Acq Relocation Costs Costs Disallowed Master Site Plan Property Aoq Costs Disallowed Pending Disallowed Pending Disallowed Pending Disallowed Pending Disallowed Pending Disallowed Pending Pending Geri of Disallwed Pending Disallowed Pending Unpaid Pass Geri of Completion Cart of Completion Geri of Completion Geri of Completion Cert of Completion Cen of Completion Completion Gen of Completion Gen of Completion Other Costs Throughs Admin Allowance Costs Subtotal Amount Outstanding per ROPS3 $ 4,416,384 $ 5,150,543 $ 3,555,243 $ 14,971,453 $ 345,208 $ 87,501 $ 407,212 $ 16,960,908 $ 14,475,988 $ 71,233,716 $ - $ 357,464 $ 196,737,767 Termination Dale 10/1/2030 10/112030 1011/2030 10/1/2030 il)IV2030 101112030 1011/2030 10/l/2030 10/l/2030 - - - - 2011-12 ROPS1 Jan-12 - - - - - - - - - 692,378 2,653,000 250,000 7,519,850 2012-13 ROPS2 Jun-12 - - - - 473,892 - - 5,580,531 ROPS3 Jan-13 - - - 6,821,000 - 304,106 13,917,324 2013-14 Jun-13 202,549 - 125,000 2,004,905 Jan-14 - - - - - - - - - 34,965 - 143,213 6,443,493 2014-15 Jun-14 - - - - - - - - - 175,861 - 125,000 4,199,301 Jan-15 - - - - - - - - - 15,000 - 125,000 5,684,778 2015-16 Jun-15 6,845 7,983 5,510 23,205 535 136 631 26,289 22,437 250,730 - 125,000 3,693,422 Jan-16 100,444 117,142 80,859 340,,504 7,851 1,990 9,261 385,752 329,236 1,373,040 - 132,157 5,910,440 2016-17 Jun-16 21,680 25,284 17,452 73,494 1,695 430 1,999 83,260 71,062 459,040 - 125,000 3,661,468 Jan-17 99,287 115,793 79,928 336,583 7,761 1,967 9,155 381,309 325,444 1,357,226 - 133,3D9 5,934,160 2017-18 Jun-17 26,467 30,867 21,306 89,723 2,069 524 2,440 101,645 86,753 530,283 - 125,000 3,765,308 Jan-18 109,261 127,424 87,957 370,394 8,540 2,165 10,074 419,613 358,136 1,508,565 - 134,828 6,122,653 2019-19 Juri 46,997 54,810 37,833 159,319 3,674 931 4,333 180,490 154,046 817,014 - 125,000 3,344,351 Jan-19 108,144 126,121 87,057 366,606 8,453 2,143 9,971 415,321 354,473 1,478,290 - 135,940 6,145,565 2019-20 Jun-19 45,817 53,434 36,884 155,320 3,581 908 4,225 175,959 150,180 807,286 - 125,000 3,368,537 Jan-20 150,636 175,677 121,264 510,652 11,774 2,985 13,889 578,509 493,752 2,059,138 - 125,000 5,274,294 2020-21 Jun-20 44,6D9 52,024 35,910 151,222 3,487 884 4,113 171,317 146,218 797,480 - 125,000 3,393,323 Jan-21 149,521 174,377 120,367 506,875 11,687 2,962 13,787 574,230 490,100 2,058,906 - 125,000 5,297,139 2021-22 Jun-21 43,370 50,579 34,913 147,023 3,390 859 3,999 166,559 142,157 787,598 - 125,000 3,418,725 Jan-22 161,090 187,868 129,679 546,090 12,592 3,192 14,853 618,657 528,018 2,202,038 - 125,000 5,059,940 2022-23 Jun-22 42,100 49,098 33,891 142,718 3,291 834 3,882 161,683 137,995 777,646 - 125,000 3,444,762 Jan-23 160,259 186,900 129,011 543,275 12,527 3,175 14,777 615,467 525,296 2,190,686 - 125,000 5,076,970 2023-24 Jun-23 40,798 47,580 32,843 138,305 3,189 808 3,762 156,684 133,728 767,628 - 125,000 3,471,453 Jan-24 166,970 194,726 134,412 566,023 13,051 3,308 15,395 641,238 547,291 2,297,415 - 125,000 4,939,377 2024-25 Jun-24 39,464 46,024 31,769 133,781 3,085 782 3,639 151,558 129,353 757,549 - 125,000 3,498,818 Jan-25 167,4D9 195,238 134,766 567,512 13,086 3,317 15,436 642,925 548,731 2,288,420 - 125,000 4,930,369 2025-26 Jun-25 56,645 66,062 45,600 192,026 4,428 1,122 5,223 217,543 185,671 1,000,989 - 125,000 3,146,517 Jan-26 200,902 234,299 161,729 681,054 15,704 3,980 18,524 771,555 658,515 2,746,262 - 125,000 4,243,608 2026-27 Jun-26 93,487 109,028 75,258 316,920 7,307 1,852 8,620 359,034 306,432 1,513,610 - 125,000 2,391,089 Source:ROPS3,ROPS2 and ROPS1 28 Prepared by Keyser Marston Associates,Inc. Filename:HB_CF_2013-01-09_Scenario2:Expenses:1/9/2013:GSH:Page 9 of 16 Table 3 Cash Flow/RPTTF Funding Exhibit C-4(Continued) Forecast-Enforceable Obligations Based on ROPS 3 Successor Agency to Huntington Beach Redevelopment Agency 60 61 62 63 64 65 66 67 68 69 70 T1 T2 ROPS3 Line Item 41.00 42.00 43.00 44.00 45.00 46.00 47.00 48.00 49.00 Pierside Hotel Huntington Center Development of Third Block West Second Block Alley Retail&Parking Enforceable Obligation Description Lard Right of Way Main Pier RP Ph II Downtown Main Pier Relocation,Property&Street Imp Project Strand Project Structure Relocation Waterfront Comml Strand Project Acq Costs Land Acquisition Land Acq Acq&Project Costs Property Acq Relocation Costs Costs Disallowed Master Site Plan Property Acq Costs Disallowed Pending Disallowed Pending Disallowed Pending Disallowed Pending Disallowed Pending Disallowed Pending Pending Can of Disallwed Pending Disallowed Pending Unpaid Pass Can of Completion Can of Completion Cart of Completion Can of Completion Cert of Completion Can of Completion Completion Can of Completion Can of Completion Other Costs Throughs Admin Allowance Costs Subtotal Amount Outstanding per ROPS3 $ 4,416,384 $ 5,150,543 $ 3,555,243 $ 14,971,453 $ 345,208 $ 87,501 $ 407,212 $ 16,96g908 $ 14,475,988 $ 71,23V16 $ - $ 357,464 $ 196,737,767 Termination Date 101112030 101112030 101112030 10112030 10112030 1011/2030 1011/2030 10112030 1011/2030 - - - - Jan-27 199,596 232,776 160,677 676,626 15,601 3,955 18,404 766,538 654,234 2,743,406 - 125,000 4,270,390 2027-28 Jun-27 93,211 108,706 75,036 315,983 7,286 1,847 8,594 357,971 305,526 1,519,281 - 125,000 2,396,760 Jan-28 199,150 232,256 160,318 675,115 15,567 3,946 18,363 764,826 652,773 2,722,314 - 125,000 4,279,529 2028-29 Jun-28 92,920 108,367 74,802 314,998 7,263 1,841 8,568 356,856 304,574 1,525,236 - 125,000 2,402,T16 Jan-29 198,248 231,204 159,592 672,056 15,496 3,928 18,279 761,361 649,815 2,709,979 - 125,000 4,298,030 2029-30 Jun-29 92,615 108,011 74,557 313,965 7,239 1,835 8,540 355,685 303,574 1,531,488 - 125,000 2,408,967 Jan-30 196,889 229,618 158,498 667,448 15,390 3,901 18,154 756,141 645,360 2,705,398 - 125,000 4,325,901 2030-31 Jun-30 92,295 107,638 74,299 312,879 7,214 1,829 8,510 354,456 302,525 1,538,053 - 125,000 2,415,532 Jan-31 196,389 229,036 158,095 665,754 15,351 3,891 18,108 754,221 643,722 2,684,566 - 125,000 4,336,150 2031-32 Jun-31 91,959 107,246 74,028 311,739 7,188 1,822 8,479 353,164 301423 1,544,948 - 125,000 2,422,425 Jan-32 195,431 227,919 157,325 662,508 15,276 3,872 18,020 750,544 640,583 2,671,477 - 125,000 4,355,784 2032-33 Jun-32 91,606 106,834 73,744 310,543 7,160 1,815 8,447 351,809 300,266 1,552,184 - 125,000 2,429,663 Jan-33 194,016 226,268 156,185 657,709 15,165 3,844 17,889 745,107 635,943 2,667,126 - 125,000 4,384,810 2033-34 Jun-33 91,288 106,464 73,488 309,465 7,136 1,809 8,417 350,588 299,224 1,560,506 - 125,000 2,436,181 Jan-34 225,477 262,959 181,512 764,363 17,624 4,467 20,790 865,934 739,067 3,082,194 - 125,000 3,739,708 2034-35 Jun-34 112,865 131,627 90,858 382,611 8,822 2,236 10,407 433,453 369,949 1,868,755 - 125,000 1,993,755 Jan-35 244,717 285,398 197,000 829,587 19,128 4,849 22,564 939,825 802,132 3,345,200 - - 3,345,200 2035-36 Jun-35 112,457 131,151 90,529 381,226 8,790 2,228 10,369 431,884 368,609 1,877,134 - 125,000 2,002,134 Jan-36 240,621 280,620 193,703 815,699 18,808 4,767 22,186 924,092 788,704 3,304,200 - 125,000 3,429,200 2036-37 Jun-36 51,134 59,634 41,163 173,342 3,997 1,013 4,715 196,376 167,605 1,053,532 - 125,000 1,178,532 Jan-37 126,499 147,528 101,833 428,830 9,888 2,506 11,664 485,814 414638 1,729,200 - - 1,T29,200 2037-38 Jun-37 - - - - - - - - - 369,950 - 125,000 494,950 Jan-38 - - - - - - - - - - - TOTALS 5,221,586 6,089,597 4,203,440 17,701,069 408,146 103,454 481,455 20,053,244 17,115,270 1 85,549,608 2,653,000 1 6,483,553 209,957,982 Source:ROPS3,ROPS2 and ROPS1 29 Prepared by Keyser Marston Associates,Inc. Filename:HB_CF_2013-01-09_Scenario2:Expenses:1/9/2013:GSH:Page 10 of 16 Table 3 Cash Flow/RPTTF Funding Exhibit C-4(Continued) Forecast-Enforceable Obligations Based on ROPS 3 Successor Agency to Huntington Beach Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Redevelopment Agency 1 2 3 4 5 6 7 8 9 10 11 12 13 14 ROPS3 Line Item WATERFALL SUBTOTALI Enforceable Obligation Description Semi Annual SubT of Other SubT of Other Available Above WATERFALL Property Tax Loan Repayments Costs without FY 2012-13 Beg Balance End Balance SUBTOTAL 2 Starting Bond Debt without SERAF ROPS3 Line Item Taxing Entity SERAF Debt Less SERAF SERAF Debt Available After w ROPS 5 Service Bond Fees and City GF Loans Obligations 41-49 Admin Allowance Over/(Under) Distribution at Obligation 2009 Add Interest Subtotal 2009 Repayment Obligation 2009 2009 SERAF Amount Outstanding per ROPS3 50% 0.53% 100.00% Termination Date - of Available 2011-12 ROPS1 Jan-12 2012-13 ROPS2 Jun-12 ROPS3 Jan-13 2013-14 Jun-13 Jan-14 7,970,000 3,237,642 5,160 1,496,008 34,965 143,213 3,053,012 1,526,505 3,331,300 17,489 3,348,789 (1,526,505) 1,822,284 - 2014-15 Jun-14 4,106,000 - 734,936 3,163,504 175,861 125,000 (93,301) - 1,822,284 9,567 1,831,851 - 1,831,851 - Jan-15 7,970,000 3,248,400 5,160 6,000 15,000 125,000 4,570,440 2285,219 1,831,851 9,617 1,841,468 (1,841,468) - 443,750 2015-16 Jun-15 4,106,000 - 734,938 2,310,534 157,159 125,000 778,371 389,185 - - - - - 389,185 Jan-16 7,970,000 3.287,963 5,160 1,112,119 - 132,157 3,432,600 1,716,300 - - - - - 1,716,300 2016-17 Jun-16 4,106,000 - 734,936 2,342,492 162,686 125,000 740,686 370,443 - - - - - 370,443 Jan-17 7,970,000 3.302,033 5,160 1,136,433 - 133,309 3,393,066 1,696,532 - - - - - 1,696,532 2017-18 Jun-17 4,308,000 - 734,936 2.375,089 168,488 125.000 904,487 452,243 - - - - - 452,243 Jan-18 8,363,000 3,318,868 5,160 1.155,233 15,000 134.828 3,733,912 1,866,956 - - - - - 1,866,956 2018-19 Jun-18 4,308,000 - - 2,402,337 174,581 125,000 1,606,082 803,041 - - - - - 803,041 Jan-19 8,363,000 3,345,647 5,160 1,180,528 - 135,940 3,695.725 1,847,862 - - - - - 1,847,862 2019-20 Jun-19 4,308,000 - - 2,438,251 180,978 125,000 1,565,771 782,685 - - - - - 782,885 Jan-20 8,363,000 1,876,666 5,160 1,206,330 - 125,000 5,147,844 2,573,922 - - - - - 2,573,922 2020-21 Jun-20 4,308,000 - - 2,470,843 187,696 125,000 1,524,461 762,230 - - - - - 762,230 Jan-21 8.363,000 1,875,425 5,160 1,232,648 15,000 125,000 5,109,767 2,554,683 - - - - - 2,554,683 2021-22 Jun-21 4,308,000 - - 2,506,127 194,749 125,000 1,482,124 741,062 - - - - - 741,062 Jan-22 8,363,000 1,468,250 5,160 1,259,492 - 125,000 5,505,098 2,752,548 - - - - - 2,752,548 2022-23 Jun-22 4,308,000 - - 2,542,116 202,154 125,000 1,438,730 719,364 - - - - - 719,364 Jan-23 8,363,000 1,469,250 5,160 1.286,873 - 125,000 5,476,717 2,738,358 - - - - - 2,738,358 2023-24 Jun-23 4,308,000 - - 2,578,825 209,930 125,000 1,394,245 697,122 - - - - - 697,122 Jan-24 8,363,000 1,197,000 5,160 1,314,802 15,000 125,000 5,706,038 2,853,019 - - - - - 2,853,019 2024-25 Jun-24 4,308,000 - - 2,616,269 218,095 125,000 1,348,636 674,317 - - - - - 674,317 Jan-25 8,363,000 1,168,500 5,160 1,343,289 - 125,000 5,721,051 2,860,525 - - - - - 2,860,525 2025-26 Jun-25 4,308,000 - - 2,020,528 226,668 125,000 1,935,804 967,901 - - - - - 967,901 Jan-26 8,363,000 - - 1,372,346 - 125,000 6,865,654 3,432,827 - - - - - 3,432,827 2026-27 Jun-26 4,308,000 - - 752,479 235,670 125,000 3,194,851 1,597,425 - - - - - 1,597,425 Source:ROPS3,ROPS2 and ROPSi 30 Prepared by Keyser Marston Associates,Inc. Filename:HB_CF_201301-09_Scenado2:Expenses:1/9/2013:GSH:Page 11 of 16 Table 3 Cash Flow/RPTTF Funding Exhibit C-4(Continued) Forecast-Enforceable Obligations Based on ROPS 3 Successor Agency to Huntington Beach Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Redevelopment Agency 1 2 3 4 5 6 7 8 9 10 11 12 13 14 ROPS3 Line Item WATERFALL SUBTOTALI Enforceable Obligation Description Semi Annual SubT of Other SubT of Other Available Above WATERFALL Properly Tax Loan Repayments Costs without FY 2012-13 Beg Balance End Balance SUBTOTAL 2 Starting Bond Debt without SERAF ROPS3 Line Item Taxing Entity SERAF Debt Less SERAF SERAF Debt Available After w ROPS 5 Service Bond Fees and City OF Loans Obligations 41-49 Admin Allowance Over/(Under) Distribution at Obligation 2009 Add Interest Subtotal 2009 Repayment Obligation 2009 2009 SERAF Amount Outstanding per ROPS3 50% 0.531/6 100.00% Termination Date of Available Jan-27 8,363,000 - - 1,401,984 15,000 125,000 6,821,016 3.410,507 - - - - - 3,410,507 2027-28 Jun-27 4,30B4O00 - - 752,479 245,122 125,000 3,185,399 1,592,699 - - - - - 1,592,699 Jan-28 8,363,000 - - 1,432,215 - 125,000 6,805,785 3,402,892 - - - - 3,402,892 2028-29 Jurr28 4,308,000 - - 752,479 255,046 125,000 3,175,475 1,587,737 - - - - 1,587,737 Jan-29 8,363,000 - - 1,463,050 - 125,000 6,774,950 3,387,474 - - - - - 3,387,474 2029-30 Juo-29 4,308,000 - - 752,479 265,467 125,000 3,165,054 1,582,527 - - - - 1,582,527 Janr30 8,363,000 - - 1,494,503 15,000 125,000 6,728,497 3,364,248 - - - - 3,364,248 2030-31 Junr30 4,308,000 - - 752,479 276,408 125,000 3,154,113 1,577,056 - - - - - 1,577,056 Jan-31 8,363,000 - - 1,526,584 - 125,000 6,711,416 3,355,708 - - - - 3,355,708 2031-32 Jun 31 4,308,000 - - 752,479 287,897 125,000 3,142,624 1,571,311 - - - - - 1,571,311 Jan-32 8,363,000 - - 1,559,307 - 125,000 6,678,693 3,339,346 - - - - - 3,339,346 2032-33 Juo-32 4,308,000 - - 752,479 299,960 125,000 3,130,561 1,565,280 - - - - - 1,565,280 Janr33 8,363,000 - - 1,592,684 15,000 125,000 6,630,316 3,315,157 - - - - 3,315,157 2033-34 Jurt-33 4,308,000 - - 750,675 312,627 125,000 3,119,698 1,559,849 - - - - - 1,559,849 Jao-34 8,363,000 - - 532,514 - 125,000 7,705,486 3,852,743 - - - - - 3,852,743 2034-35 Juo-34 4,308,000 - - - 325,926 125,000 3,857,074 1,928,536 - - - - 1,928,536 Jan-35 8,363,000 - - - - - 8,363,000 4,181,500 - - - - - 4,181,500 2035-36 Jun-35 4,308,000 - - - 339,891 125,000 3,843,109 1,921,554 - - - - - 1,921,554 Janr36 8,363,000 - - - 15,000 125,000 8,223,000 4,111,500 - - - - - 4,111.500 2036-37 Junt-36 2,227,000 - - - 354,554 125,000 1,747,446 873,723 - - - - - 873,723 Jan-37 4,323,000 - - - - - 4,323,000 2,161,500 - - - - 2,161,500 2037-38 Juo-37 - - - - 369,950 125,000 (494,950) - - - - - - - Jan-38 - - - - - - 0 - - - - - - TOTALS Source:ROPS3,ROPS2 and ROPS1 31 Prepared by Keyser Marston Associates,Inc. Filename:HB_CF_2013-01-09_Scenado2:Expenses:11912013:GSH:Page 12 of 16 Table 3 Cash Flow/RPTTF Funding Exhibit C-4(Continued) Forecast-Enforceable Obligations Based on ROPS 3 Successor Agency to Huntington Beach Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Redevelopment Agency 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 ROPS3 Line Item 41.00 42.00 43.00 44.00 45.00 46.00 Enforceable Obligation Description WATERFALL Third Block West Second Block Beg Balance End Balance SUBTOTAL 3 Beg Balance Huntington Center Development of Relocation, Alley&Street Imp SERAF Debt Less SERAF SERAF Debt Available for Non Obligation Less Line Items Land Right of Way Main Pier RP Ph Downtown Main Property Acq& Project Property Strand Project Obligation 2010 Add Interest Subtotal 2010 Repayment Obligation 2010 at Items 41-49 Add Interest Subtotal 41-49 Repayment Acq Costs II Land Acquisition Pier Land Acq Project Costs Aoq Relocation Costs Amount Outstanding per ROPS3 0.539% 100.00% 80.00% 1.91% 100.00% 7.3% 8.5% 5.9% 24.8% 0.6% 0.1% Termination Date of Available of Available 296,498 345,786 238,684 1,005,122 23,176 5,874 2011-12 ROPS1 Jan-12 2012-13 ROPS2 Jun-12 ROPS3 Jan-13 2013-14 Jun-13 Jan-14 703,413 3,693 707,105 - 707,105 - 60,370,440 1,150,057 61,520,497 - - - - - - 2014-15 Jun-14 707,105 3,712 710,818 - 710,818 - 61,520,497 1,171,965 62,692,462 - - - - - - Jan-15 710,818 3,732 714,550 (443,750) 270,800 - 62,692,462 1,194,291 63,886,754 - - - - - - 2015-16 Jun-15 270,800 1,422 272,221 (272,221) - 93,571 63,886,754 1,217,043 65,103,796 (93,571) (6,845) (7,983) (5,510) (23,205) (535) (136) Jan-16 - - - - - 1,373,040 65,010,225 1,238,445 66,248,670 (1,373,040) (100,444) (117,142) (80,859) (340,504) (7,851) (1,990) 2016-17 Jun-16 - - - - - 296,354 64,875,630 1,235,881 66,111,511 (296,354) (21,680) (25,284) (17,452) (73,494) (1,695) (430) Jan-17 - - - - - 1,357,226 65,815,157 1,253,779 67,068,935 (1,357,226) (99,287) (115,793) (79,928) (336,583) (7,761) (1,967) 2017.18 Jun-17 - - - - - 361,794 65,711,710 1,251,808 66,963,518 (361,794) (26,467) (30,867) (21,306) (89,723) (2,069) (524) Jan-18 - - - - - 1,493.565 66,601,723 1,268,763 67,870,486 (1,493,565) (109,261) (127,424) (87,957) (370,394) (8.540) (2,165) 2018-19 Jun-18 - - - - - 642,433 66,376,921 1,264,480 67,641,402 (642,433) (46,997) (54,810) (37,833) (159,319) (3,674) (931) Jan-19 - - - - - 1,478,290 66,998,969 1,276,330 68,275,299 (1,478,290) (108,144) (126,121) (87,057) (366,606) (8,453) (2,143) 2019-20 Jun-19 - - - - - 626,308 66,797,010 1,272,483 68,069,493 (626,308) (45,817) (53,434) (36,884) (155,320) (3,581) (908) Jan-20 - - - - - 2,059,138 67,443,185 1,284,793 68,727,977 (2,059,138) (150,636) (175,677) (121,264) (510,652) (11,774) (2,985) 2020-21 Jun-20 - - - - - 609.784 66,668,840 1,270,041 67,938,a81 (609,784) (44,609) (52,024) (35,910) (151,222) (3.487) (884) Jan-21 - - - - - 2,043,906 67,329,097 1,282,619 68,611,716 (2,043,906) (149,521) (174,377) (120,367) (506,875) (11,687) (2,962) 2021-22 Jun-21 - - - - - 592,850 66,567.810 1,268,117 67,835,927 (592,850) (43,370) (50,579) (34,913) (147,023) (3,390) (859) Jan-22 - - - - - 2,202,038 67,243,077 1,280,981 68,524,058 (2,202,038) (161,090) (187,868) (129,679) (546,090) (12,592) (3,192) 2022-23 Jun-22 - - - - - 575,491 66,322,019 1,263,434 67,585,454 (575,491) (42,100) (49,098) (33,891) (142,718) (3,291) (834) Jan-23 - - - - - 2,190,686 67,009,963 1,276,540 68,286,503 (2,190,686) (160,259) (186,900) (129,011) (543,275) (12,527) (3,175) 2023-24 Jun-23 - - - - - 557,698 66,095,816 1,259,125 67,354,941 (557,698) (40,798) (47,580) (32,843) (138,305) (3,189) (808) Jan-24 - - - - 2,282,415 66,797,244 1,272,487 68,069,731 (2,282,415) (166,970) (194,726) (134,412) (566,023) (13,051) (3,308) 2024-25 Jun-24 - - - - - 539,454 65,787,316 1,253,248 67,040,565 (539,454) (39,464) (46,024) (31,769) (133,781) (3,085) (782) Jan-25 - - - - - 2,288,420 66,501,111 1,266,846 67,767,957 (2,288,420) (167,409) (195,238) (134,766) (567,512) (13,086) (3,317) 2025-26 Jun-25 - - - - - 774,321 65,479,537 1,247,385 66,726,922 (774,321) (56,645) (66,062) (45,600) (192,026) (4,428) (1,122) Jan-26 - - - - - 2,746,262 65,952,601 1,256,397 67,208,999 (2,746,262) (200,902) (234,299) (161,729) (681,054) (15,704) (3,980) 2026-27 Jun-26 - - - - - 1,277,940 64,462,737 1,228,015 65,690,752 (1,277,940) (93,487) (109,028) (75,258) (316,920) (7,307) (1,852) Source:ROPS3,ROPS2 and ROPS1 32 Prepared by Keyser Marston Associates,Inc. Filename:HB_CF_2013-01-09_Scenario2:Expenses:1/9/2013:GSH:Page 13 of 16 Table 3 Cash Flow/RPTTF Funding Exhibit C-4(Continued) Forecast-Enforceable Obligations Based on ROPS 3 Successor Agency to Huntington Beach Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Redevelopment Agency 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 ROPS3 Line Item 41.00 42.00 43.00 44.00 45.00 46.00 Enforceable Obligation Description WATERFALL Third Block West Second Block Beg Balance End Balance SUBTOTAL 3 Beg Balance Huntington Center Development of Relocation, Alley&Street Imp SERAF Debt Less SERAF SERAF Debt Available for Non Obligation Less Line Items Land Right of Way Mam Pier RP Ph Downtown Main Property Acq& Project Property Strand Project Obligation 2010 Add Interest Subtotal 2010 Repayment Obligation 2010 at Items 41-49 Add Interest Subtotal 41-49 Repayment Acq Costs II Land Acquisition Pier Land Acq Protect Costs Acq Relocation Costs Amount Outstanding per ROPS3 0.53% 100.00% 80.00% 1.91% 100.00% 7.3% 8.5% 5.9% 24.8% 0.6% 0.1% Termination Dale of Available of Available 296,498 345,786 238,684 1,005,122 23,176 5,874 Jan-27 - - - - - 2,728,406 64,412,812 1,227,064 65,639,876 (2,728,406) (199,596) (232,776) (160,677) (676,626) (15,601) (3,955) 2027-28 Jun-27 - - - - - 1,274,159 62,911,471 1,198,464 64,109,934 (1,274,159) (93,211) (108,706) (75.036) (315,983) (7,286) (1,847) Jan-28 - - - - - 2,722,314 62,835,775 1,197,022 64,032,796 (2,722,314) (199,150) (232,256) (160,318) (675,115) (15,567) (3,946) 2028-29 Jun-28 - - - - - 1,270,190 61,310,483 1,157,965 62,478,447 (1,270,190) (92,920) (108,367) (74,802) (314,998) (7,263) (1,841) Jan-29 - - - - - 2,709,979 61,208,258 1,166,017 62,374,275 (2,709,979) (198,248) (231,204) (159,592) (672056) (15,496) (3,928) 2029-30 Jun-29 - - - - - 1,266,022 59,664,296 1,136,605 60,800,901 (1,266,022) (92,615) (108,011) (74,557) (313,965) (7,239) (1,835) Jan-30 - - - - - 2,691,398 59,534,879 1,134,139 60,669,019 (2,691,398) (196,889) (229,618) (158,498) (667,448) (15,390) (3,901) 2030-31 Jun-30 - - - - - 1,261,645 57,977,620 1,104,474 59,082,094 (1,261,645) (92,295) (107,638) (74,299) (312,879) (7,214) (1,829) Jan-31 - - - - - 2,684,566 57,820,449 1,101,480 58,921,929 (2,684,566) (196,389) (229,036) (158,095) (665,754) (15,351) (3,891) 2031-32 Jun-31 - - - - - 1,257,049 56,237,362 1,071,322 57,308,684 (1,257,049) (91,959) (107,246) (74,028) (311,739) (7,188) (1,822) Jan-32 - - - - - 2,671,477 56,051,635 1.067,784 57,119,419 (2,571,477) (195,431) (227,919) (157,325) (662,508) (15,276) (3,872) 2032-33 Jun-32 - - - - - 1,252,224 54,447,942 1,037,233 55,485,175 (1,252,224) (91,606) (106,834) (73,744) (310,543) (7,160) (1,815) Jan-33 - - - - - 2.652,126 54,232,951 1,033,138 55,266,089 (2,652,126) (194,016) (226,268) (156,185) (657,709) (15,165) (3,844) 2033-34 Jun-33 - - - - - 1.247,879 52,613,963 1,002,296 53,616,259 (1,247,879) (91,288) (106,464) (73,488) (309,465) (7,136) (1,809) Jan-34 - - - - - 3,082,194 52,368,380 997,618 53,365,998 (3,082,194) (225,477) (262,959) (181,512) (764,363) (17,624) (4,467) 2034-35 Jun-34 - - - - - 1,542,829 50,283,804 957,906 51,241,710 (1,542,829) (112,865) (131,627) (90.858) (382,611) (8,822) (2,236) Jan-35 - - - - - 3,345,200 49,698,881 946,764 50,845,845 (3,345,200) (244,717) (285,398) (197,000) (829,587) (19,128) (4,849) 2035-36 Jun-35 - - - - - 1,537,243 47,300,445 901,073 48,201,518 (1,537,243) (112,457) (131,151) (90,529) (381,226) (8,790) (2,228) Jan-36 - - - - - 3,289,200 46,664,275 B88,954 47,553,230 :1,729,2GO) 3,289,200) (240,621) (280620) (193,703) (815,699) (18,808) (4,767) 2036-37 Jun-36 - - - - - 698,978 44,264,030 843,230 45,107,259 (698,978) (51,134) (59,634) (41,163) (173.342) (3,997) (1,013) Jan-37 - - - - - 1,729,200 44,408,281 845,978 45,254,259 (126,499) (147,528) (101,833) (428,830) (9,888) (2,506) 2037-38 Jun-37 - - - - - - 43,525,059 829,152 44,354,211 - - - - - - Jan-38 - - - - - - 44,354,211 844,948 45,199,159 - - - - - - - TOTALS Source:ROPS3,ROPS2 and ROPS1 33 Prepared by Keyser Marston Associates,Inc. Filename:HB_CF_2013-01-09 Scenario2:Expenses:1/9/2013:GSH:Page 14 of 16 Table 3 Cash Flow/RPTTF Funding Exhibit C-4(Continued) Forecast-Enforceable Obligations Based on ROPS 3 Successor Agency to Huntington Beach Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Redevelopment Agency 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 ROPS3 Line Item 47.00 48.00 49.00 WATERFALL Enforceable Obligation Description Pierside Hotel SUBTOTAL 4 WATERFALL Beg Balance Less End Balance WATERFALL Retail 8 Parking Strand Project End Balance Available to Beg Balance End Balance SUBTOTAL 5 Emerald Cove Emerald Cove Emerald Cove SUBTOTAL 6 Structure Waterfront Commi Property Acq Obligation Repay City GF City GF Loan Less City GF City GF Loan Remaining City Loan City Loan City Loan Remaining Relocation Costs Master Site Plan Costs Items 4149 Loans Repayment Add Interest Subtotal Repayment Repayment Available Repayment Add Interest Subtotal Repayment Repayment Available Amount outstanding per ROPS3 0.7% 28.1% 24.0% 0.53% 100.00% 0.53% 100.00% Termination Date 27,339 1,138,666 971,859 of Available of Available 2011-12 ROPS1 Jan-12 2012-13 ROPS2 Jun-12 'City staff to add accrued interest to ROPS5 Penod ROPS3 Jan-13 2013-14 Jun-13 Jan-14 - - - 61,520,497 - 177512,346 91,940 17,604,266 - 17,604,266 - 5,676,433 29,801 5,706,234 - 5,706,234 - 2014-15 Jun-14 - - - 62,692,462 - 17,604,286 92,423 17,696,708 - 17696,708 - 5,706,234 29,958 5,736,192 - 5,736,192 - Jan-15 - - - 63,885,754 - 17,696,708 92,908 17,789,616 - 17,789,616 - 5,736,192 30,115 5,766,307 - 5,766,307 - 2015-16 Jun-15 (631) (26,289) (22,437) 65,010,225 - 17,789,616 93,395 17,883,012 - 17,883,012 - 5,766,307 30,273 5,796,580 - 5,796,580 Jan-16 (9,261) (385,752) (329,236) 64,875,630 - 17,883,012 93,866 17,976,897 - 17,976,897 - 5,796,580 30,432 5,827,012 - 5,827,012 - 2016-17 Jun-16 (1,999) (83,260) (71,062) 65,815,157 - 17,976,897 94,379 18,071,276 - 18,071,276 - 5,827,012 30,592 5,857,604 - 5,857,604 - Jan-17 (9,155) (361,309) (325,444) 65,711,710 - 18,071,276 94,874 18,166,150 - 18,166,150 - 5,857,604 30,752 5,868,356 - 5,888,356 - 2017-18 Jun-17 (2,440) (101,645) (66,753) 66,601,723 - 18,166,150 95,372 18,261,523 - 18,261,523 5,888,356 30,914 5,919,270 - 5,919,270 - Jao-18 (10,074) (419,613) (358,136) 66,376,921 - 16,261,523 95,873 18,357,396 - 18,357,396 - 5,919,270 31,076 5,950,346 - 5,950,346 - 2016-19 Jun-18 (4,333) (180,490) (154,046) 66,998,969 - 18,357,396 96,376 18,453,772 - 18,453,772 - 5,950,346 31,239 5,981,566 - 5,981,586 - Jan-19 (%971) (415,321) (354,473) 66,797,010 - 18,453,772 96,882 18,550,654 - 16,550,654 - 5,981,566 31,403 6,012,989 - 6,012,989 - 2019-20 Jur09 (4,225) (175,959) (150,160) 67,443,185 - 18,550,654 97,391 18,648,045 - 16,648,045 - 6,012,989 31,568 6,044,557 - 6,044,557 - Jan-20 (13,889) (576,509) (493,752) 66,668,840 - 18,648,045 97,902 18,745,947 - 16,745,947 - 6,044,557 31,734 6,076,291 - 6,076,291 2020-21 Jun-20 (4,113) (171,317) (146,216) 67,329,097 - 16,745,947 98,416 18,844,364 - 18,844,364 - 6,076,291 31,901 6,108,192 - 6,108,192 - Jan-21 (13,787) (574,230) (490,100) 66,567,810 - 16,844,364 98,933 18,943,296 - 18,943,296 - 6,108,192 32,068 6,140,260 - 6,140,260 - 2021-22 Jun-21 (3,999) (166,559) (142,157) 67,243,077 - 18,943,296 99,452 19,042,749 - 19,042,749 - 6,140,260 32,236 6,172,496 - 6,172,496 - Jan-22 (14,853) (618,657) (528,018) 66,322,019 - 19,042,749 99,974 19,142,723 - 19,142,723 - 6,172.496 32,406 6,204,902 - 6,204,902 - 2022-23 Jur1-22 (3,882) (161,683) (137,995) 67,009,963 - 19,142,723 100,499 19,243,222 - 19,243,222 - 6,204,902 32,576 6,237,477 - 6,237,477 - Jan-23 (14,777) (615,467) (525,296) 66,095,816 - 19,243,222 101,027 19,344,249 - 19,344,249 - 6,237,477 32,747 6,270,224 - 6,270,224 - 2023-24 Jun-23 (3,762) (156,684) (133,728) 66,797,244 - 19,344,249 101,557 19,445.807 - 19,445,807 - 6,270,224 32,919 6,303,143 - 6,303,143 - Jan-24 (15,395) (641,238) (547,291) 65.787,316 - 19,445,807 102,090 19,547,897 - 19,547,897 - 6,303,143 33,092 6,336,234 - 6,336,234 - 2024-25 Jun-24 (3,639) (151,558) (129,353) 66,501,111 - 19,547,897 102,626 19,650,524 - 19,650,524 - 6,336,234 33,265 6,369,500 - 6,369,500 - Jan-25 (15,436) (642,925) (548.731) 65,479,537 - 19,650,524 103,165 19,753,689 - 19,753,689 - 6,369,500 33,440 6,402,939 - 6,402,939 - 2025-26 Jun-.25 (5,223) (217,543) (185,671) 65,952,601 - 19,753,669 103,707 19,657,396 - 19,857,396 - 6,402,939 33,615 6,436.555 - 6,436,555 - Jan-26 (18,524) (771,555) (658,515) 64,462,737 - 19,857,396 104,251 19,961,647 - 19,961,647 - 6,436,555 33,792 6,470,347 - 6,470,347 - 2026-27 Jun-26 (6,620) (359,034) (306,432) 64,412,812 - 19,961,647 104,799 20,066,446 - 20,066,446 - 6,470,347 33,969 6,504,316 - 6,504,316 - Source:ROPS3,ROPS2 and ROPS11 34 Prepared by Keyser Marston Associates,Inc. Filename:HB_CF_2013-01-09_Scenario2:Expenses:1/9/2013:GSH:Page 15 of 16 Table 3 Cash Flow/RPTTF Funding Exhibit C-4(Continued) Forecast-Enforceable Obligations Based on ROPS 3 Successor Agency to Huntington Beach Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Redevelopment Agency 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 ROPS3 Line Item 47.00 48.00 49.00 WATERFALL Enforceable Obligation Description Pierside Hotel SUBTOTAL 4 WATERFALL Beg Balance Less End Balance WATERFALL Retail&Parking Strand Project End Balance Available to Beg Balance End Balance SUBTOTALS Emerald Cove Emerald Cove Emerald Cove SUBTOTAL 6 Structure Waterfront Commit Property Acq Obligation Repay City OF City GF Loan Less City GF City GF Loan Remaining City Loan City Loan City Loan Remaining Relocation Costs Master Site Plan Costs Items 41-49 Loans Repayment Add Interest Subtotal Repayment Repayment Available Repayment Add Interest Subtotal Repayment Repayment Available Amount Outstanding per ROPS3 0.7% 28.1% 24.0% 0.53% 100.00% 0.53% 100.w% Termination Date 27,339 1,138,686 971,859 of Available of Available Jan-27 (18,404) (766,538) (654,234) 62,911,471 - 20,066,446 105,349 20,171,795 - 20,171,795 - 6,504,316 34,148 6,538,464 - 6,538,464 - 2027-28 Jun-27 (8,594) (357,971) (305,526) 62,835,775 - 20,171,795 105,902 20,277,697 - 20,277,697 - 6,538,464 34,327 6,572,791 - 6,572,791 - Jan-28 (18,363) (764,826) (652,773) 61,310,483 - 20,277,697 106,458 20,384,154 - 20,384,154 - 6,572,791 34,507 6,607,298 - 6,607,298 - 2028-29 Jun-28 (8,568) (356,856) (304,574) 61,208,258 - 20,384,154 107,017 20,491,171 - 20,491,171 - 6,607,298 34,688 6,641,996 - 6,641,986 - Jan-29 (18,279) (761,361) (649,815) 59,664,296 - 20,491,171 107,579 20,598,750 - 20,598,750 - 6,641,986 34,870 6,676,857 - 6,676,857 - 2029-30 Jun-29 (8,540) (355,685) (303,574) 59,534,879 - 20,598,750 108,143 20,706,893 - 20,706,893 - 6,676,857 35,053 6,711,910 - 6,711,910 - Jan-30 (18,154) (756,141) (645,360) 57,977,620 - 20,706,893 108,711 20,815,605 - 20,815,605 - 6,711,910 35,238 6,747,148 - 6,747,148 - 2030-31 Jun-30 (8,510) (354,456) (302,525) 57,820,449 - 20,815,605 109,282 20,924,886 - 20,924,896 - 6,747,148 35,423 6,782,570 - 6,782,570 - Jan-31 (18,108) (754,221) (643,722) 56,237,362 - 20,924,866 109,856 21,034,742 - 21,034,742 - 6,782,570 35,608 6,818,179 - 6,818,179 - 2031-32 Jun-31 (8,479) (353,164) (301,423) 56,051,635 - 21,034,742 110,432 21,145,174 - 21,145,174 - 6,818,179 35,795 6,653,974 - 6,853,974 - Jan-32 (18,020) (750,544) (640,583) 54,447,942 - 21,145,174 111,012 21,256,187 - 21,256,187 - 6,853,974 35,983 6,889,957 - 6,889,957 - 2032-33 Jun-32 (8,447) (351,809) (300,266) 54,232,951 - 21,256,187 111,595 21,367,782 - 21,367,782 - 6,889,957 36,172 6,926,130 - 6,926,130 - Jan-33 (17,889) (745,107) (635,943) 52,613,963 - 21,367,782 112,181 21,479,962 - 21,479,962 - 6,926,130 36,362 6,962,492 - 6,962,492 - 2033-34 Jun-33 (8,417) (350,588) (299,224) 52,368,380 - 21,479,962 112,770 21,592,732 - 21,592,732 - 6,962,492 36,553 6,999,045 - 6,999,045 - Jan-34 (20,790) (865,934) (739,067) 50,283,804 - 21,592,732 113,362 21,706,094 - 21,706,094 - 6,999,045 36,745 7,035,790 - 7,035,790 - 2034-35 Jun-34 (10,407) (433,453) (369,949) 49,698,881 - 21,706,094 113,957 21,820,051 - 21,820,051 - 7,035,790 36,938 7,072,728 - 7,072,728 - Jan-35 (22,564) (939,825) (802,132) 47,300,445 - 21,820,051 114,555 21,934,606 - 21,934,606 - 7,072,728 37,132 7,109,860 - 7,109,960 - 2035-36 Jun-35 (10,369) (431,884) (368,609) 46,664,275 - 21,934,606 115,157 22,049,763 - 22,049,763 - 7,109,860 37,327 7,147,186 - 7,147,186 Jan-36 (22,186) (924,092) (788,704) 44,264,030 - 22,049,763 115,761 22,165,524 - 22,165,524 - 7,147,186 37,523 7,184,709 - 7,184,709 2036-37 Jun-36 (4,715) (196,376) (167,605) 44,408,281 - 22,165,524 116,369 22,281,893 - 22,281,893 - 7,184,709 37,720 7,222,429 - 7,222,429 - Jan-37 (11,664) (485,814) (414,638) 43,525,059 - 22,281,893 116,980 22,398,873 - 22,398,873 - 7,222,429 37,918 7,260,347 - 7,260,347 - 2037-38 Jun-37 - - - 44,354,211 - 22,398,873 117,594 22,516,467 - 22,516,467 - 7,260,347 38,117 7,298,464 - 7,298,464 - Jan-38 - - - 45,199,159 - 22,516,467 118,211 22,634,679 - 22,634,679 - 7,298,464 38,317 7,336,780 - 7,336,780 - TOTALS Source:ROPS3,ROPS2 and ROPS1 35 Prepared by Keyser Marston Associates,Inc. Filename:HB_CF_2013-01-09 Scenario2:Expenses:1/g/2013:GSH:Page 16 of 16 Table 4 Exhibit C-4(Continued) Tax Increment Revenue Projection Merged Redevelopment Project(Including Southeast Coastal) Huntington Beach Redevelopment Agency 000's Omitted 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Gross TI After TI After Semi Annual Ptax July-June Tax County Flood Ctl Co Educ Co Water County Co Flood Ocean View HB HS Co Educ Coast CC Vector Ctl Statutory Pass Less Up ThPass Expanded Fiscal Increment Share Share Share Share Share Share USD Share Dist Share Share Dist Share Share Pass Thru Through. True roughs 34% 66% Year 93% (HC) (HC HC (Various) O O O OV O O O SB211 000s Adjust 000s Jun Jan ROPS1 2011-12 9,630 (1,370) 8,260 NA 8,260,099 ROPS 2&3 2012-13 11,496 1,055 10,441 3,428,586 7,012,392 2013-14 13,988 (128) (41) (9) (8) (17) (9) (59) (49) (4) (35) (0) (1,204) 12,426 (350) 12,076 4,106,000 7,970,000 2014-15 13,988 (128) (41) (9) (8) (17) (9) (59) (49) (4) (35) (0) (1,204) 12,426 (350) 12,076 4,106,000 7,970,000 2015-16 13,988 (128) (41) (9) (8) (17) (9) (59) (49) (4) (35) (0) (1,204) 12,426 (350) 12,076 4,106,000 7,970,000 2016-17 13,988 (128) (41) (9) (8) (17) (9) (59) (49) (4) (35) (0) (1,204) 12,426 (350) 12,076 4,106,000 7,970,000 2017-18 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000 2018-19 15.087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000 2019-20 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000 2020-21 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000 2021-22 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363.000 2022-23 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308.000 8,363,000 2023-24 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000 2024-25 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000 2025-26 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000 2026-27 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000 2027-28 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000 2028-29 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4.308,000 8,363,000 2029-30 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000 2030-31 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363.000 2031-32 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000 2032-33 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000 2033-34 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000 2034-35 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000 2035-36 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350)1 12,672 4,308,000 8,363,000 2036-37 7,745 0 0 0 0 0 0 0 0 0 0 0 (845) 6,900 (350) 6,550 2,227,000 4,323,000 2037-38 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Prepared by Keyser Marston Associates,Inc. Filename:HB CF 2013-01-09 Scenado2:PTax Sum:1/9/2013:8:22 PM:GSH 36 Table 4.1 Exhibit C-4 (Continued) Tax Increment Yorktown-Lake Huntington Beach 000's Omitted 1 2 3 4 5 6 7 8 Total Total Annual Incremental Gross 50% Statutory Net Real Other Total Value Tax Co Water Pass Thru After Plan Fiscal Property Property Project Over Base Increment Share Triggered Tax Yr Year Value Value Value $1,801 93% -0.82% by SB211 Sharing Reported 29 2011-12 56,965 179 57,145 55,344 513 0 (20) 493 Reported 30 2012-13 57,666 37 57,703 55,902 288 0 36 323 31 2013-14 34,971 37 35,007 33,207 308 0 31 338 32 2014-15 34,971 37 35,007 33,207 308 0 31 338 33 2015-16 34,971 37 35,007 33,207 308 0 31 338 34 2016-17 34,971 37 35,007 33,207 308 0 31 338 35 2017-18 34,971 37 35,007 33,207 308 0 31 338 36 2018-19 34,971 37 35,007 33,207 308 0 31 338 37 2019-20 34,971 37 35,007 33,207 308 0 31 338 38 2020-21 34,971 37 35,007 33,207 308 0 31 338 39 2021-22 34,971 37 35,007 33,207 308 0 31 338 Plan Limit09-20-2022 40 2022-23 34,971 37 35,007 33,207 308 0 31 338 SB104509-20-2023 41 2023-24 34,971 37 35,007 33,207 308 0 31 338 SB1096 09-20-2024 42 2024-25 34,971 37 35,007 33,207 308 0 31 338 SB109609-20-2025 43 2025-26 34,971 37 35,007 33,207 308 0 31 338 44 2026-27 34,971 37 35,007 33,207 308 0 31 338 45 2027-28 34,971 37 35,007 33,207 308 0 31 338 46 2028-29 34,971 37 35,007 33,207 308 0 31 338 47 2029-30 34,971 37 35,007 33,207 308 0 31 338 48 2030-31 34,971 37 35,007 33,207 308 0 31 338 49 2031-32 34,971 37 35,007 33,207 308 0 31 338 TI Receipt 09-20-2032 50 2032-33 34,971 37 35,007 33,207 308 0 31 338 SB1045 09-20-2033 51 2033-34 34,971 37 35,007 33,207 308 0 31 338 SB1096 09-20-2034 52 2034-35 34,971 37 35,007 33,207 308 0 31 338 SB1096 09-20-2035 53 2035-36 34,971 37 1 35,007 1 33,207 308 0 31 1 338 Prepared by Keyser Marston Associates,Inc. Filename:HB CF 2013-01-09 Scenario2:YT: 1/9/2013:8:23 PM:GSH 37 Table 4.2 Exhibit C-4 (Continued) Tax Increment Talbert-Beach Huntington Beach 000's Omitted 1 2 3 4 5 6 7 8 Total Total Annual Incremental Gross 50% Statutory Net Real Other Total Value Tax Co Water Pass Thru After Plan Fiscal Property Property Project Over Base Increment Share Triggered Tax Yr Year Value Value Value $1,813 93% -0.75% by SB211 Sharing Reported 29 2011-12 71,867 427 72,294 70,481 653 0 (45) 608 Reported 30 2012-13 64,226 98 64,324 62,511 572 0 (25) 547 31 2013-14 63,438 98 63,537 61,724 573 0 (25) 548 32 2014-15 63,438 98 63,537 61,724 573 0 (25) 548 33 2015-16 63,438 98 63,537 61,724 573 0 (25) 548 34 2016-17 63,438 98 63,537 61,724 573 0 (25) 548 35 2017-18 63,438 98 63,537 61,724 573 0 (25) 548 36 2018-19 63,438 98 63,537 61,724 573 0 (25) 548 37 2019-20 63,438 98 63,537 61,724 573 0 (25) 548 38 2020-21 63,438 98 63,537 61,724 573 0 (25) 548 39 2021-22 63,438 98 63,537 61,724 573 0 (25) 548 Plan Limit09-20-2022 40 2022-23 63,438 98 63,537 61,724 573 0 (25) 548 SB104509-20-2023 41 2023-24 63,438 98 63,537 61,724 573 0 (25) 548 SB109609-20-2024 42 2024-25 63,438 98 63,537 61,724 573 0 (25) 548 SB109609-20-2025 43 2025-26 63,438 98 63,537 61,724 573 0 (25) 548 44 2026-27 63,438 98 63,537 61,724 573 0 (25) 548 45 2027-28 63,438 98 63,537 61,724 573 0 (25) 548 46 2028-29 63,438 98 63,537 61,724 573 0 (25) 548 47 2029-30 63,438 98 63,537 61,724 573 0 (25) 548 48 2030-31 63,438 98 63,537 61,724 573 0 (25) 548 49 2031-32 63,438 98 63,537 61,724 573 0 (25) 548 TI Receipt 09-20-2032 50 2032-33 63,438 98 63,537 61,724 573 0 (25) 548 S8 1045 09-20-2033 51 2033-34 63,438 98 63,537 61,724 573 0 (25) 548 SB109609-20-2034 52 2034-35 63,438 98 63,537 61,724 573 0 (25) 548 SB109609-20-2035 53 2035-36 63,438 98 1 63,537 1 61,724 573 0 (25) 548 Prepared by Keyser Marston Associates,Inc. Filename:HB CF 2013-01-09 Scenario2:TB: 1/9/2013:8:23 PM:GSH 38 Table 4.3 Exhibit C-4 (Continued) Tax Increment Main Pier Huntington Beach 000's Omitted 1 2 3 4 5 6 7 8 Total Total Annual Incremental Gross 50% Statutory Net Real Other Total Value Tax Water Pass Thru After Plan Fiscal Property Property Project Over Base Increment Share Triggered Tax Yr Year Value Value Value $6,158 93% -0.82% by SB211 Sharing Reported 29 2011-12 264,690 18,978 283,668 277,510 2,576 0 (402) 2,174 Reported 30 2012-13 270,401 22,258 292,659 286,501 2,449 0 (371) 2,079 31 2013-14 249,675 22,258 271,933 265,774 2,417 0 (363) 2,054 32 2014-15 249,675 22,258 271,933 265,774 2,417 0 (363) 2,054 33 2015-16 249,675 22,258 271,933 265,774 2,417 0 (363) 2,054 34 2016-17 249,675 22,258 271,933 265,774 2,417 0 (363) 2,054 35 2017-18 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082 36 2018-19 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082 37 2019-20 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082 38 2020-21 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082 39 2021-22 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082 Plan Limit09-20-2022 40 2022-23 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082 SB104509-20-2023 41 2023-24 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082 SB109609-20-2024 42 2024-25 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082 SB109609-20-2025 43 2025-26 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082 44 2026-27 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082 45 2027-28 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082 46 2028-29 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082 47 2029-30 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082 48 2030-31 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082 49 2031-32 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082 TI Receipt09-20-2032 50 2032-33 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082 S6104509-20-2033 51 2033-34 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082 SB109609-20-2034 52 2034-35 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082 SB109609-20-2035 53 2035-36 249,675 22,258 1 271,933 1 265,774 2,467 0 (385)1 2,082 Prepared by Keyser Marston Associates,Inc. Filename:HB_CF_2013-01-09_Scenario2:MO: 1/9/2013:8:23 PM:GSH 39 Table 4.4 Exhibit C-4(Continued) Exhibit C-4(Continued) Tax Increment Oakview Project Huntington Beach 000's Omitted 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Total Total Annual Incremental Gross 50% 100% 15% 15% 100% 50% 100% 50% Statutory Net Real Other Total Value Tax Co Entities Co Flood Ocean View HB HS Co Educ Coast CC Vector CO Co Water Pass Thru After Plan Fiscal Property Property Project Over Base Increment Share Share USD Share Dist Share Share Dist Share Share Share Triggered Tax Yr Year Value Value Value $23,335 93% -7.1% -1.8% -25.5% -21% -1.23% -8.90h -0.10% -0.75% by SB211 Sharing Reported 29 2011-12 134,281 4,087 138,368 115,085 1,068 (25) (13) (67) (55) (4) (45) (1) 0 (39) 819 Reported 30 2012-13 136,335 5,276 141,610 118,275 851 (18) (9) (60) (49) (4) (36) (1) 0 (21) 652 31 2013-14 112,113 5,276 117,389 94,054 822 (17) (9) (59) (49) (4) (35) (0) 0 (19) 631 32 2014-15 112,113 5,276 117,389 94,054 822 (17) (9) (59) (49) (4) (35) (0) 0 (19) 631 33 2015-16 112,113 5,276 117,389 94,054 822 (17) (9) (59) (49) (4) (35) (0) 0 (19) 631 34 2016-17 112,113 5,276 117,389 94,054 822 (17) (9) (59) (49) (4) (35) (0) 0 (19) 631 35 2017-18 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666 36 2018-19 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666 37 2019-20 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666 38 2020-21 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666 39 2021-22 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666 Plan Limit 11-01-2022 40 2022-23 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666 SB104511-01-2023 41 2023-24 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666 SB109611-01-2024 42 2024-25 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666 SB109611-01-202s 43 2025-26 112,113 5,276 117,389 94,054 872 18 (9) (61) 50) 4) 37 1 0 25 666 44 2026-27 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666 45 2027-28 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666 46 2028-29 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666 47 2029-30 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666 48 2030-31 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666 49 2031-32 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666 Tl Receipt 11-01-2032 50 2032-33 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666 SB104511-01-2033 51 2033-34 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666 SB109611-01-2034 52 2034-35 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666 SB109611-01-2035 53 2035-36 112,113 5,276 117,389 94,054 872 (18) (9) (61) 50) 4 (37) 1) 0 25) 666 Prepared by Keyser Marston Associates,Inc. Filename:HB_CF_2013-01-09_Scenario2:OV:1/9/2013:8:23 PM:GSH 40 Table 4.5 Exhibit C-4 (Continued) Tax Increment Main-Pier Added Huntington Beach 000's Omitted 1 2 3 4 5 6 7 Total Total Annual Incremental Gross Statutory Net Real Other Total Value Tax Pass Thru After Plan Fiscal Property Property Project Over Base Increment Triggered Tax Yr Year Value Value Value $49,499 93% by SB211 Sharing Reported 28 2011-12 829,530 29,464 858,994 809,495 7,515 (641) 6,875 Reported 29 2012-13 893,791 28,154 921,945 872,446 7,711 (690) 7,021 30 2013-14 855,588 28,154 883,742 834,243 7,046 (523) 6,523 31 2014-15 855,588 28,154 883,742 834,243 7,046 (523) 6,523 32 2015-16 855,588 28,154 883,742 834,243 7,046 (523) 6,523 33 2016-17 855,588 28,154 883,742 834,243 7,046 (523) 6,523 34 2017-18 855,588 28,154 883,742 834,243 7,745 (845) 6,900 35 2018-19 855,588 28,154 883,742 834,243 7,745 (845) 6,900 36 2019-20 855,588 28,154 883,742 834,243 7,745 (845) 6,900 37 2020-21 855,588 28,154 883,742 834,243 7,745 (845) 6,900 38 2021-22 855,588 28,154 883,742 834,243 7,745 (845) 6,900 39 2022-23 855,588 28,154 883,742 834,243 7,745 (845) 6,900 Plan Limit09-06-2023 40 2023-24 855,588 28,154 883,742 834,243 7,745 (845) 6,900 SB104509-064024 41 2024-25 855,588 28,154 883,742 834,243 7,745 (845) 6,900 SB1096o9-os-2025 42 2025-26 855,588 28,154 883,742 834,243 7,745 (845) 6,900 SB1096o9-os-2026 43 2026-27 855,588 28,154 883,742 834,243 7,745 (845) 6,900 44 2027-28 855,588 28,154 883,742 834,243 7,745 (845) 6,900 45 2028-29 855,588 28,154 883,742 834,243 7,745 (845) 6,900 46 2029-30 855,588 28,154 883,742 834,243 7,745 (845) 6,900 47 2030-31 855,588 28,154 883,742 834,243 7,745 (845) 6,900 48 2031-32 855,588 28,154 883,742 834,243 7,745 (845) 6,900 49 2032-33 855,588 28,154 883,742 834,243 7,745 (845) 6,900 Tl Receipt 09-06-2033 50 2033-34 855,588 28,154 883,742 834,243 7,745 (845) 6,900 SB104509-064034 51 2034-35 855,588 28,154 883,742 834,243 7,745 (845) 6,900 SB109609-06-2035 52 2035-36 855,588 28,154 883,742 834,243 7,745 (845) 6,900 SB1096o9-os-2036 53 2036-37 855,588 28,1541 883,742 1 834,243 7,745 (845) 6,900 Prepared by Keyser Marston Associates,Inc. Filename:HB_CF_2013-01-09_Scenario2:MA: 1/9/2013:8:24 PM:GSH 41 Table 4.6 Exhibit C-4 (Continued) Tax Increment Huntington Center Huntington Beach 000's Omitted 1 2 3 4 5 6 7 8 9 10 11 Total Total Annual Incremental Gross 80% 80% 34% Statutory Net Real Other Total Value Tax County Flood Ctl Co Educ Co Water Pass Thru After Plan Fiscal Property Property Project Over Base Increment Share Share Share Share Triggered Tax Yr Year Value Value Value $74,693 93% -5.7% -1.8% -0.3074% -0.75% by SB211 Sharing Reported 27 2011-12 399,726 62,304 462,030 387,338 3,596 (163) (52) (11) (10) (480) 2,880 Reported 28 2012-13 392,415 58,637 451,052 376,360 3,086 (140) (45) (9) (9) (365) 2,519 29 2013-14 352,292 58,637 410,929 336,237 2,822 (128) (41) (9) (8) (305) 2,332 30 2014-15 352,292 58,637 410,929 336,237 2,822 (128) (41) (9) (8) (305) 2,332 31 2015-16 352,292 58,637 410,929 336,237 2,822 (128) (41) (9) (8) (305) 2,332 32 2016-17 352,292 58,637 410,929 336,237 2,822 (128) (41) (9) (8) (305) 2,332 33 2017-18 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488 34 2018-19 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488 35 2019-20 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488 36 2020-21 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488 37 2021-22 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488 38 2022-23 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488 39 2023-24 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488 Plan Limit11-2r-2024 40 2024-25 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488 SB104511-26-2025 41 2025-26 352,292 58,637 410,929 336,237 3,122 141 45 10 9 429 2,488 42 2026-27 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488 43 2027-28 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488 44 2028-29 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488 45 2029-30 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488 46 2030-31 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488 47 2031-32 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488 48 2032-33 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488 49 2033-34 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488 Ti Receipt 11-26-2034 50 2034-35 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488 SB104511-26-2034 51 2035-36 352,292 58,637 410,929 336,237 3,122 141) 45) 10) 9 429) 2,488 Prepared by Keyser Marston Associates,Inc. 42 Filename:HB_CF_2013-01-09_Scenario2:HC: 1/9/2013:8:24 PM:GSH Table 4.7 Tax Increment Exhibit C-4 (Continued) Southeast Coastal Huntington Beach 000's Omitted 1 2 3 4 5 6 7 Total Total Annual Incremental Gross Statutory Net Real Other Total Value Tax Pass Thru After Plan Fiscal Property Property Project Over Base Increment Triggered Tax Yr Year Value Value Value $103,734 93% by SB211 Sharing Reported 10 2011-12 17,770 81,008 98,778 0 0 0 0 Reported 11 2012-13 18,460 68,950 87,410 0 0 0 0 12 2013-14 17,155 68,950 86,105 0 0 0 0 13 2014-15 17,155 68,950 86,105 0 0 0 0 14 2015-16 17,155 68,950 86,105 0 0 0 0 15 2016-17 17,155 68,950 86,105 0 0 0 0 16 2017-18 17,155 68,950 86,105 0 0 0 0 17 2018-19 17,155 68,950 86,105 0 0 0 0 18 2019-20 17,155 68,950 86,105 0 0 0 0 19 2020-21 17,155 68,950 86,105 0 0 0 0 20 2021-22 17,155 68,950 86,105 0 0 0 0 21 2022-23 17,155 68,950 86,105 0 0 0 0 22 2023-24 17,155 68,950 86,105 _ 0 0 0 0 23 2024-25 17,155 68,950 86,105 0 0 0 0 24 2025-26 17,155 68,950 86,105 0 0 0 0 25 2026-27 17,155 68,950 86,105 0 0 0 0 26 2027-28 17,155 68,950 86,105 0 0 0 0 27 2028-29 17,155 68,950 86,105 0 0 0 0 28 2029-30 17,155 68,950 86,105 0 0 0 0 29 2030-31 17,155 68,950 86,105 0 0 0 0 Plan Limit06-17-2032 30 2031-32 17,155 68,950 86,105 0 0 0 0 SB1045106-17-2033 31 2032-33 17,155 68,950 86,105 0 0 0 0 32 2033-34 17,155 68,950 86,105 0 0 0 0 33 2034-35 17,155 68,950 86,105 0 0 0 0 34 2035-36 17,155 68,950 86,105 0 0 0 0 35 2036-37 17,155 68,950 86,105 0 0 0 0 36 2037-38 17,155 68,950 86,105 0 0 0 0 37 2038-39 17,155 68,950 86,105 0 0 0 0 38 2039-40 17,155 68,950 86,105 0 0 0 0 39 2040-41 17,155 68,950 86,105 0 0 0 0 40 2041-42 17,155 68,950 86,105 0 0 0 0 41 2042-43 17,155 68,950 86,105 0 0 0 0 42 2043-44 17,155 68,950 86,105 0 0 0 0 43 2044-45 17,155 68,950 86,105 0 0 0 0 44 2045-46 17,155 68,950 86,105 0 0 0 0 TI Receipt 06-17-2047 45 2046-47 17,155 68,950 86,105 0 0 0 0 SB1045 06-17-2048 46 2047-48 17,155 68,950 1 86,105 1 0 0 01 0 Prepared by Keyser Marston Associates,Inc. Filename:HB CF 2013-01-09 Scenario2:SE:11912013:8:24 PM:GSH 43 City of Huntington Beach Redevelopment Successor Agency Exhibit C-5 Pursuant to AB 1484-All Other Funds Summary of Balances Available for Allocation to Affected Taxing Entities Original Submitted to 1(DOF Revised Exhibit 9/30/2012 6/30/2012 Reference: Total amount of assets held by the successor agency(procedure 5) $ 30,087,087 $ 15,050,903 (A) Exhibit C-I Add the amount of any assets transferred to the city or other parties for which an enforceable obligation with a third party requiring such transfer and obligating the use of the transferred assets did not exist(procedures 2 and 3) - - Less assets legally restricted for uses specified by debt covenants,grant restrictions,or restrictions imposed by other governments(procedure 6) (2,422,613) (2,717,598) Exhibit C-2 Less assets that are not cash or cash equivalents (e.g.,physical assets)-(procedure 7) (21,170,451) (122,728) (A) Exhibit C-3 Less balances that are legally restricted for the funding of an enforceable obligation(net of projected annual revenues available to fund those obligations)-(procedure 8) (6,494,023) (6,494,023) Exhibit C-4 Less balances needed to satisfy ROPS for the 2012-13 fiscal year(procedure 9) - (5,747,947) Exhibit C-6 Less the amount of payments made on July 12,2012 to the County Auditor-Controller a directed by the California Department of Finance (629,466) Amount to be remitted to county for disbursement to taxing entities $ $ (660,859) (A) These balances do not reflect Land and Land Held for Resale transferred to the City in 2011 and returned to the Successor Agency after June 30,2012 City of Huntington Beach Redevelopment Successor Agency Exhibit C-6 Pursuant to AB 1484-All Other Funds Schedule of Balances for Funding Enforceable Obligations PROJECTION OF AMOUNT NEEDED TO OBLIGATION ANNUAL REV PROJECTION OF BE RETAINED FROM AMOUNT AS AVAIL TO FUND REVENUE ANNUAL JUNE 30,2012 ITEM PROJECT NAME/DEBT OBLIGATION ROPS LINE NO. APPROVED BV DOF REQ SOURCE SPENDING REQ BALANCE Note:Schedule should list only those obligations where future revenues together with balances dedicated/restricted are insufficient to fund future obligation payments 1 Hyatt Regency Huntington Beach Project Page 2,Line 2 367,896 - RPTTF 367,896 2 2002 Tax Allocation Refunding Bonds Page 2,Line 3 1,315,369 - RPTTF 1,315,369 3 1999 Tax Allocation Refunding Bonds Page 2,Line 4 599,044 - RPTTF 599,044 4 2002 Tax Allocation Refunding Bonds Page 2,Line 5 500 - RPTTF 500 5 2002 Tax Allocation Refunding Bonds Page 2,Line 8 1,537 - RPTTF 1,537 6 2002 Tax Allocation Refunding Bonds Page 2,Line 11 250 - RPTTF 250 7 1999 Tax Allocation Refunding Bonds Page 2,Line 12 1,525 - RPTTF 1,525 8 HUD Section 108 Infrastructure Loan for Page 2,Line 13 370,175 - RPTTF 370,175 Hyatt/Hilton Properties 9 Strand Hotel and Mixed-Use Project,Parking Page 3,Line 1 685A03 - RPTTF 685,403 &Infrastructure Implementing Agreement 10 Strand Project Additional Parking Page 3,Line 2 49,576 RPTTF 49,576 11 Pacific City Page 3,Line 3 20,000 RPTTF 20,000 12 Covenant Monitoring Obligations of Housing Page 3,Line 4 153,202 RPTTF 153,202 Authority 13 Housing Authority Covenant monitoring per Page 3,Line 5 75,000 RPTTF 75,000 AB 987 14 Affordable Housing Compliance pursuant to Page 4,Line 1 37,500 RPTTF 37,500 the requirements of Section 33413(b)(4)and 33490(a)(2)and(3)of the California Community Redevelopment Law,Health and Safety Code Section 33000,et.seq.Covenant monitoring per AB 987. City of Huntington Beach Redevelopment Successor Agency Exhibit C-6 Pursuant to AB 1484-All Other Funds Schedule of Balances for Funding Enforceable Obligations PROJECTION OF AMOUNT NEEDED TO OBLIGATION ANNUAL REV PROJECTION OF BE RETAINED FROM AMOUNT AS AVAIL TO FUND REVENUE ANNUAL JUNE 30,2012 ITEM PROJECT NAME/DEBT OBLIGATION ROPS LINE NO. APPROVED BY DOF REQ SOURCE SPENDING REQ BALANCE 15 Affordable Housing Compliance pursuant to Page 4,Line 2 75,000 RPTTF 75,000 the requirements of Section 33413(b)(4)and 33490(a)(2)and(3)ofthe California Community Redevelopment Law,Health and Safety Code Section 33000,ct.seq.Covenant monitoring per AB 987. 16 Abdelmudi Owner Participation Page 4,Line 5 6,000 RPTTF 6,000 Agreement/Rent Differential Agreement 17 Covenant enforcement for Affordable Page 4,Line 8 15,000 RPTTF 15,000 housing projects for the purpose of increasing,improving,and preserving the City's supply of low and moderate income housing pursuant to the requirements of Section 33413(b)(4)and 33490(a)(2)and(3) of the California Community Redevelopment Law,Health and Safety Code Section 33000, et.seq. 18 Unfunded CalPERS Pension Liabilities Page 4,Line 9 36,762 RPTTF 36,762 19 Unfunded Supplemental Retirement Page 4,Line 10 9,408 RPTTF 9,408 Liabilities 20 Public Agency Retirement Systems(PARS) Page 4,Line 11 19,965 RPTTF 19,965 Notes Payable 21 Unfunded OPEB Liabilities Page 4,Line 12 2,880 RPTTF 2,880 22 Successor Agency Compliance Page 4,Line 14 13,000 RPTTF 13,000 23 Successor Agency Compliance per H&S Page 4,Line 15 29,675 RPTTF 29,675 Code 33433 24 Emerald Cove 2010 Series A Lease Revenue Page 5,Line 1 404,564 RPTTF 404,564 Refunding Bonds 25 Bella Terra Parking Infrastructure Property Page 5,Line 2 1,277,600 RPTTF 1,277,600 Tax Sharing Agreement 26 Bella Terra Phase II Page 5,Line 3 7,200 RPTTF 7,200 27 Pierside Pavillion Owner Participation Page 5,Line 4 4,000 RPTTF 4,000 Agreement City of Huntington Beach Redevelopment Successor Agency Exhibit C-6 Pursuant to AB 1484-All Other Funds Schedule of Balances for Funding Enforceable Obligations PROJECTION OF AMOUNT NEEDED TO OBLIGATION ANNUAL REV PROJECTION OF BE RETAINED FROM AMOUNT AS AVAIL TO FUND REVENUE ANNUAL JUNE 30,2012 ITEM PROJECT NAME/DEBT OBLIGATION ROPS LINE NO. APPROVED BV DOF REQ SOURCE SPENDING REQ BALANCE 28 Assessment for AES Property Tax Valuation Page 6,Line 1 2,500 RPTTF 2,500 29 Enforcement of Successor Agency Page 7,Line 3 167,416 RPTTF 167,416 compliance and monitoring per AB 1X26 5,747,947 $ - 5,747,947 Balances necessary for retention: 5,747,947 (A) (A) The total amount approved for the BOPS 11 July 1-December 31,2012 period was$5,747,947,however,the Successor Agency only received $3,428,586 in RPTTF funding for the period. Res. No. 2013-08 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 May 30,2013 and that it was so adopted by the following vote: AYES: Board Members: Bone, Carchio, Delgado, Fritzal NOES: Board Members: None ABSENT: Board Members: Boardman, L. Dunn ABSTAIN: Board Members: A. Dunn jjv��— Secreta fthe Huntington ch Oversight BoardVohe Successor Agency of the Former City of Huntington Beach Redevelopment Agency Huntington Beach, California