HomeMy WebLinkAboutSuccessor Agency - 2014-04 RESOLUTION NO. 2014- 04
A RESOLUTION OF THE SUCCESSOR AGENCY TO THE
REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE
FOR THE PERIOD JANUARY 1, 2015 —JUNE 30, 2015 ("ROPS 14-1513")
WHEREAS, pursuant to AB x1 26 (as amended by AB 1484, the "Dissolution Act"), the
separate legal entity known as Successor Agency to the Redevelopment Agency of the City of
Huntington Beach ("Successor Agency") must prepare "Recognized Obligation Payment
Schedules" ("ROPS") that enumerate the enforceable obligations and expenses of the Successor
Agency for each successive six-month fiscal period until the wind down and disposition of assets
of the former Redevelopment Agency of the City of Huntington Beach; and
The Successor Agency staff has prepared a ROPS for the six-month fiscal period
commencing on January 1, 2015 and continuing through June 30, 2015 ("ROPS 14-1513") which
is attached hereto as Exhibit A; and
After reviewing ROPS 14-15B, presented to and recommended for approval by Successor
Agency staff, and after reviewing any written and oral comments from the public relating
thereto, the Successor Agency Board desires to approve the ROPS 14-1513; and
All of the prerequisites with respect to the approval of this Resolution have been met.
NOW, THEREFORE, the Successor Agency to the Redevelopment Agency of the City of
Huntington Beach does hereby resolve as follows:
1. The Successor Agency hereby finds and determines that the foregoing recitals are
true and correct.
2. The Successor Agency hereby approves ROPS 14-15B in the form presented to
the Successor Agency and attached hereto as Exhibit A, and hereby determines that such
agreements and obligations constitute "enforceable obligations" and "recognized obligations" for
all purposes under the Dissolution Act.
3. The Successor Agency authorizes and directs the Successor Agency staff to: (i)
take all actions necessary under the Dissolution Act to post ROPS 14-15B on the Successor
Agency website once approved by the Oversight Board to the Successor Agency; (ii) transmit
ROPS 14-15B to the Auditor-Controller and the County Administrator of the County of Orange
and to the State Controller and the State Department of Finance ("DOF"); and (iii) to do any and
all things and to execute and deliver any and all documents which may be necessary or advisable_
in order to effectuate the purposes of this Resolution. In addition, the Successor Agency
authorizes and directs the Successor Agency staff to make such non-substantive revisions to
ROPS 14-15B as may be necessary to submit ROPS 14-15B in any modified form required by
DOF, and ROPS 14-15B as so modified shall thereupon constitute ROPS 14-15B as approved by
the Successor Agency pursuant to this Resolution.
14-43 70/112481.doc 1
Successor Agcy Resolution No. 2014- 04
4. The Successor Agency authorizes the Executive Director, or designee, to make
such non-substantive changes and amendments to ROPS 14-15B as may be approved by the
Executive Director of the Successor Agency and its legal counsel, and ROPS 14-15B as so
modified shall thereupon constitute ROPS 14-15B as approved by the Successor Agency
pursuant to this Resolution.
5. The Successor Agency does not intend, by adoption of this Resolution, to waive
any constitutional, legal and/or equitable rights of 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 Successor Agency and the City of Huntington Beach under law and/or in equity.
PASSED AND ADOPTED by the Successor Agency to the Redevelopment Agency of
the City of Huntington Beach at a regular meeting thereof held on the 15th day of
September , 2014.
AA
hair an
REVIEWED AND APPROVED:
Exe tie irector
APPROVED AS TO FORM:
Agency Counsel
2
13-3914/101076
Successor Agcy
Resolution No. 2014- 04
EXHIBIT A
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
FOR THE PERIOD JANUARY 1, 2015 THROUGH JUNE 30, 2015
("ROPS 14-1513")
[behind this page]
rhea Tor the January -i, zu-i5 tnrougn June su, zu-i5 rerioa
Name of Successor Agency: Huntington Beach
Name of County: Orange
Current Period Requested Funding for Outstanding Debt or Obligation Six-Month Total
Enforceable Obligations Funded with Non-Redevelopment Property Tax Trust Fund (RPTTF) Funding
A Sources (B+C+D): $' 1,643,24;1
B Bond Proceeds"Funding (ROPS Detail) W
C Reserve Balance Funding (ROPS Detail)
D Other Funding (ROPS Detail) 1 643,241 `
E Enforceable Obligations Funded with RPTTF Funding (F+G): $ "7,858,358.1
F Non-Administrative Costs (ROPS Detail) 608,358 '
G Administrative Costs (ROPS Detail) '.'250,000
H Current Period Enforceable Obligations (A+E): $, , 9,501,59,9:
Successor Agency Self-Reported Prior Period Adjustment to Current Period RPTTF Requested Funding
I Enforceable Obligations funded with RPTTF (E): 7,858,358
J Less Prior Period Adjustment (Report of Prior Period Adjustments Column S) (98,652)
K Adjusted Current Period RPTTF Requested Funding (I-J) " 7,759,706 I
County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding
E able
't' f„rt wi ti P r i L nforce Obliga ions a ded t R TTF (E) fy 7,858,358'.
M Less Prior eriod rAdJ ustmen 1 Re port of Pnor Penod".A' ustments COlumn'AA -
s N
N Ad'asted Current.,Peri&RPTTF Re nested<Fundin L=M
�.. .. �. ..::. ....1. ,:;� ,� .......:: . .:� � �.p�„ "�.N.. .. .�, :g (� );
Certification of Oversight Board Chairman:
Pursuant to Section 34177 (m) of the Health and Safety code, I
hereby certify that the above is a true and accurate Recognized Name Title
Obligation Payment Schedule for the above named agency.
/s/
Signature Date
(Report Amounts in Whole Dollars)
D E F G H I J K L M
Fundin Sour(
Non-Redevelopment Property Tax Trust Fund
Non-RPTTF
Contract/Agreement Contract/Agreement Total Outstanding Reserve
pe Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Balance Other Funds
$ 85,394,463 $ - $ - $ 1,643,2
t td c f I r tit'its 9 1 ( t�
,tructi 9/14/1998 9/30/2023 PCH Beach Resorts LLC Disposition and Development Merged 4,914,489 N 975,E
Agreement approved on September
14, 1998 for the Waterfront
Development
in or 6/19/2002 8/1/2024 Bank of New York Trust Co. Tax Allocation Bonds Debt Service Merged 13,050,138 N
i Payments
in or 1/12/1999 8/1/2024 Bank of New York Trust Co. Tax Allocation Bonds Debt Service Merged 5,982,295 N
Payments
11/17/2010 11/17/2016 Arbitrage Compliance Tax Allocation Bonds arbitrage rebate Merged 500 N
S ecialist calculation-Federal IRS Compliance
11/17/2010 11/17/2016 Arbitrage Compliance Tax Allocation Bonds arbitrage rebate Merged 500 N
Specialist calculation-Federal IRS Com liance
in or 6/19/2002 8/1/2016 Internal Revenue Service IRS Arbitrage Rebate Payment Merged - Y
i
in or 6/19/2002 8/1/2024 Bank of New York Mellon Tax Allocation Bonds-Payment to Merged 1,600 N
Fiscal Agent
in or 1/12/1999 8/1/2024 Bank of New York Mellon Tax Allocation Bonds-Payment to Merged 1,600 N
Fiscal Agent
1/3/2001 8/1/2016 Harrell&Company Preparation and filing of Continuing Merged 700 N
Advisors,LLC Disclosure Annual Reports and
Material Event Notices
1/3/2001 8/1/2016 Harrell&Company Preparation and filing of Continuing Merged 2,025 N 2,(
Advisors,LLC Disclosure Annual Reports and
Material Event Notices
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in or 7/21/2010 8/1/2019 Bank of New York Mellon Legally binding and enforceable loan Merged 2,518,786 N
agreement with the U.S.Department of
Housing and Urban Development for
capital improvements
,tructi 6/1/1999 9/30/2033 CIM Group,LLC and Kane Property Tax Sharing Agreement Merged 6,748,571 N
Ballmer and Berkman under the Disposition and
Development Agreement(DDA)for
development of hotel,retail,restaurant,
and public parking structure.The
Implementation of the DDA and the
Sixth Implementation Agreement were
entered into from June 1999 to
November 2008.
,tructi 1/20/2009 9/30/2033 CIM Group,LLC Property Tax Sharing Agreement Merged 414,402 N
under the Disposition and
Development Agreement(DDA) and
Sixth Implementation Agreement for
the Strand projects parking structure
authorized on January 20,2009.
.tructi 10/16/2006 10/16/2026 Makar Properties&Kane Owner Participation Agreement Merged 5,520,000 N
Ballmer and Berkman approved on October 16,2006 for
future development of a 31-acre site
located at Pacific Coast Highway and
(Report Amounts in Whole Dollars)
D E F G H I J K L M
Funding Sour(
Non-Redevelopment Property Tax Trust Fund
(Non-RPTTF)
Contract/Agreement Contract/Agreement Total Outstanding Reserve
1pe Execution Date ....,Termination Date Payee I Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Balance Other Funds
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5/10/2011 11/26/2024 Housing Authority Legally enforceable obligation for Merged 720,693 N
SERAF Loan reeayment
,tructi 5/28/1991 12/31/2017 Abdelmudi Development Owner Participation Agreement/Rent Merged 10,000 N 10'(
Company Differential Agreement approved on
May 28,1991 for the development of
the three story building at the
Oceanview Promenade.The Third
Implementation Amendment took
effect on November 21, 1994.
ities 6/30/2011 11/26/2026 CalPERS Unfunded CalPERS pension obligation Merged 2,969,608 N
as per CalPERS actuarial valuation as
of June 30,2012
ities 9/30/2011 11/26/2026 US Bank Unfunded actuarial accrued liability as Merged 564,127 N
of September 30,2013 as per actuarial
valuation by Bartel Associates, LLC.
ities 6/30/2011 11/26/2024 CaIPERS/CERBT Unfunded actuarial accrued liability as Merged 247,354 N
of June 30,2013 as per Bartel
Associates,LLC.
ities 9/30/2011 11/26/2024 City employees directly Obligation for unused employee Merged 49,662 N
involved in Housing and General Leave earned and vested as
Redevelopment projects per MOUs and AB 1 X26
and administration
5/7/2007 4/30/2015 Tierra West Financial and Real estate consultant Merged Y
-tructi 10/2/2000 9/30/2025 Bella Terra Associates LLC Property Tax Sharing Agreement Merged 12,685,312 N
required under the terms of the Owner
Participation Agreement(dated
10/2/2000)and Second
Implementation Agreement (dated
9/17/2007)for the development of the
Huntington Center(Bella Terra).
Includes legal requirements to enforce
obligation.
-------------------
,tructi 10/4/2010 7/1/2036 Bella Terra Villas,LLC Agreement approved on October 4, Merged 24,651,414 N
2010 for construction of a 467 mixed-
use unit project.Construction is
complete and financed by property tax
allocations.Includes legal
requirements to implement obligation.
ins 16/17/2002 10/1/2030 lCity of Huntington Beach Loan repayment for advance made on Southeast Coastal
(Report Amounts in Whole Dollars)
D E F G H I J K L M
Funding Sour(
Non-Redevelopment Property Tax Trust Fund
Non-RPTTF
Contract/Agreement Contract/Agreement Total Outstanding Reserve
pe Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Balance Other Funds
7/8/2012 7/8/2015 Kane Ballmer&Berkman Legal expenses to ensure Successor Merged&Southeast 75,000 N 75,(
Agency compliance with AB 1x 26 and Coastal
AB 1484
6/15/2010 6/15/2015 Keyser Marston Economic Analysis consulting services Merged&Southeast 100,000 N 100,(
to ensure Successor Agency Coastal
compliance with AB 1 x 26 and AB
1484
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2/1/2012 11/26/2024 Successor Agency,Kane Successor Agency administrative Merged&Southeast 714,710 N 464,'
Ballmer,Keyser Marston, obligations relating to maintaining Coastal
and Macias Gini& payments on enforceable obligations
O'Connell LLP et al and other activities as required by AB
1X26
itions 11/1/2010 11/26/2024 S&S Fencing,Al Fence Fencing to secure Successor Agency Merged 3,500 N
Co.,American Fence Property
Company
11/1/2010 11/2612024 Company jAs needed weed abatement for I Merged 4,0001 N
(Report Amounts in Whole Dollars)
D E F G H I J K L M
Funding Sour(
Non-Redevelopment Property Tax Trust Fund
Non-RPTTF
Contract/Agreement Contract/Agreement Total Outstanding Reserve
pe Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Balance Other Funds
2/5/2013 2/5/2015 Kane Ballmer&Berkman Payment of litigation costs for property Merged N
tax payments eligible under Health and
Safety Code Section 34171(d)(1)(F)as
amended by AB 1484
its 10/8/2012 10/8/2015 Vavrinek,Trine&Day Co Statutorily required review/audit to Merged&Southeast N
LLP wind down the RDA,such as due Coastal
diligence reviews
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bond reserve account
its 11/4/2013 11/4/2016 Vavrinek,Trine&Day Co Statutorily required annual financial Merged 10,000 N
LLP statement audit of Successor Agency.
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upon lease termination
5/10/2010 11/26/2024 Housing Authority Legally enforceable obligation for Merged 3,418,477 N
SERAF Loan re a ment
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safety Code section 34177 (1), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other fundii
perty tax revenues is required by an enforceable obligation. For tips on how to complete the Report of Cash Balances Form, see https:Zlrad.dof.ca.gov/rad
e in c Ti s Sheet. df.
B C D E F G H
Fund Sources
Bond Proceeds Reserve Balance Other RPTTF
Prior ROPS Prior ROPS
period balances RPTTF
Bonds Issued Bonds Issued and DDR RPTTF distributed as Rent, Non-Admin
on or before on or after balances reserve for Grants, and
ince Information by ROPS Period 12/31/10 01/01/11 retained future period(s) Interest, Etc. Admin Col
101/14-06/30/14)
Cash Balance (Actual 01/01/14)
Beginning available ca
consists of RPTTF bak
retained from the ROP
available cash balance
4,865,050 632,542 1,269,362 - to be used in the ROP;
tual 06/30/14)
Id tie to the ROPS 13-14B distribution from the
,Iler during January 2014
677,339 5,655,611
PS 13-14B Enforceable Obligations (Actual
ilus H4 should equal total reported actual
sport of PPA, Columns L and Q 452,840 5,633,380
e Cash Balance(Actual 06/30/14)
�d should only include the amounts distributed for
approved in ROPS 13-14B
Prior Period Adjustment
I tie to the self-reported ROPS 13-14B PPA in the
nS
98,652
We Cash Balance
H = (1 +2-3 -4 -5) _ - 4,865,050 632,542 1,493,861 (76,421)
7/01/14- 12/31114)
Cash Balance(Actual 07/01/14)
= H4+ F4+ F6, and H = 5+6)
- - 4,865,050 632,542 1,493,861 227231
timate 12/31/14)
Id tie to the ROPS 14-15A distribution from the
,Iler during June 2014 464,710
PS 14-15A Enforceable Obligations (Estimate
413,259 632,542 780,040
tments(PPA):Pursuant to HSC Section 34186(a),SAs are required to report the differences between their actual available funding and their actual expenditures for the ROPS 13-14B(January through June 2014)period. The amount of Redevelopment Property Tax Trust Fund(RPTTF)appro,
Ws self-reported ROPS 13-14B prior period adjustment.HSC Section 34186(a)also specifies that the prior period adjustments self-reported by SAs are subject to audit by the county auditor-controller(CAC)and the State Controller.
E F G H I J K L M N O P Q R S
Non-RPTTF Expenditures RPTTF Expenditures
Net SA No
and Adm
(Amount I
Offset ROP
Reserve Balance Other Funds Non-Admin Admin Requested
Available Available Difference
RPTTF RPTTF (If total actual
(ROPS 13-14B Difference (ROPS 13-14B exceeds total
distributed+all other Net Lesser of (If K is less than L, distributed+all other Net Lesser of authorized,the
available as of Authorized I the difference is available as of Authorized I total difference is Net Diff(
Authorized Actual Authorized Actual Authorized 0111114) Available Actual zero) Authorized 0111114) Available Actual zero) (M+I
$ $ $ 452,840 $ 452,840 $ 5,643,934 $ 5,643.934 $ 5,643,934 $ 5,545,282 $ 98,652 $ 88,098 $ 88,098 $ 88,098 $ 88,098 $ $
734,079 734,079 734,079 734,079
279,019 279,019 279,019 279,019
128,682 128,682 128,682 128,682
500 500 500 500
500 500 500 500
1,537 1,537 1,537 1,537
848 848 848 848
250 250 250 250
1,525 1,525 1,525 1,525
447,822 447,822 447,822 447,822
702,903 702903 702,903 702,903
49,756 49,756 49,756 49,756
7,500 7,500 7,500 7,500
105.062 105,062 105,062 105,062
28,952 28,952 28,952 28,952
104.802 104,802 104,802 -.....__.104,802
Iments(PPA):Pursuant to HSC Section 34186(a),SAs are required to report the differences between their actual available funding and their actual expenditures for the ROPS 13-14B(January through June 2014)period. The amount of Redevelopment Property Tax Trust Fund(RPTTF)appro,
Ws self-reported ROPS 13-14B prior period adjustment.HSC Section 34186(a)also specifies that the prior period adjustments self-reported by SAs are subject to audit by the county auditor-controller(CAC)and the State Controller
E I F G H I J K L M I N 1 O P Q R S
Non-RPTTF Expenditures RPTTF Expenditures
Net SA No
and Adm
(Amount I
Offset ROP
Reserve Balance Other Funds Non-Admin Admin Requested
Available Available Difference
RPTTF RPTTF (If total actual
(ROPS 13-14B Difference (ROPS 13-14B exceeds total
distributed+all other Net Lesser of (If K is less than L, distributed+all other Net Lesser of authorized,the
available as of Authorized! the difference is available as of Authorized/ total difference is Net Diff i
Authorized Actual Authorized Actual Authorized 0111/14) Available Actual zero) Authorized 01/1/14) Available Actual zero) (M+I
$ $ $ 452.840 $ 452,840 $ 5,643.934 $ 5,643,934 $ 5.643.934 $ 5.545,282 $ 98,652 $ 88.098 $ 88,098 $ 88,098 $ 88,098 $ $
- 1,692,797 1.692,797 1.692,797 1,692,797 -
1,200.000 1.200,000 1,200.000 1.200,000 -
57.509 57,509
48,533 48,533
tments(PPA):Pursuant to HSC Section 34186(a),SAs are required to report the differences between their actual available funding and their actual expenditures for the ROPS 13-14B(January through June 2014)period. The amount of Redevelopment Property Tax Trust Fund(RPTTF)approl
Ws self-reported ROPS 13-14B prior period adjustment HSC Section 34186(a)also specifies that the prior period adjustments self-reported by SAs are subject to audit by the county auditor-controller(CAC)and the State Controller.
E I F G H I J K L M I N 1 O P Q R S
Non-RPTTF Expenditures RPTTF Expenditures
Net SA No
and Adm
(Amount I
Offset ROP
Reserve Balance Other Funds Non-Admin Admin Requested
Available Available Difference
RPTTF RPTTF (If total actual
(ROPS 13-14B Difference (ROPS 13-14B exceeds total
distributed+all other Net Lesser of (If K is less than L, distributed+all other Net Lesser of authorized,the
available as of Authorized/ the difference is available as of Authorized/ total difference is Net Diff(
Authorized Actual Authorized Actual Authorized 01/1/14) Available Actual zero) Authorized 01/1/14) Available Actual zero) (M+I
$ $ $ 452.840 $ 452,840 $ 5,6437934 $ 5,643;934 $ 5,643,934 $ 51545,282 $ 98,652 $ 88,098 $ 88,098 $ 88,098 i $ 88,098 $ $
346,798 346,798 - - - - 88,098 88,098
- 2,500 2,500 2,500 1,811 689
3,500 3;500 3,500 3,500
75,000 75,000 75,000 75,000
17,395 17,395 17,395 17,395 -
- 29,514 29,514 29,514 29,514
- 10,000 10,000 10,000 10,000
January -i, zu-io tnrougn June su, zwo
Item# Notes/Comments
_............._. _.................................--.........
i
- - - - - ......- ................. .............._ ......... ......... ........
- .. ........... _.............. ... ....... .........
.. ............. ........_... ......... -....... -
........ - -. ... ...... ................... ......... .......... .. ....................................
........ . _....... .. ........ .......... .._........... . ......... .... ...... .......... .........
_ ......... _ ...
........ .......... ...... ... ..... _.._.. .............
_. .._.. - - - -- ......... ........... ...... _....................... ....... ..._.......... ............... _ ..............
... ......._ ............. ......... .. ...._. ........ .... ..... ....... .........
-- _.....
_ .....
..............
i
...... _. ..... ......... ...... ... ....... .. ............ ..... .... .
Successor Agency
Res. No. 2014-04
STATE OF CALIFORNIA
COUNTY OF ORANGE ) ss:
CITY OF HUNTINGTON BEACH )
I, JOAN L. FLYNN the Clerk of the Successor Agency to the former
City of Huntington Beach Redevelopment Agency, Huntington Beach, California,
DO HEREBY CERTIFY that the foregoing resolution was duly adopted by The
Successor Agency to the Redevelopment Agency of the City of Huntington Beach
at a special meeting held on September 15, 2014 and that is was so adopted by
the following vote:
AYES: Katapodis, Hardy, Shaw, Harper, Boardman, Sullivan, Carchio
NOES: None
ABSENT: None
ABSTAIN: None
e
Clerk The Successor Agency to
the Redevelopment Agency of the
City of Huntington Beach, California
RESOLUTION NO. 2014- 05
A RESOLUTION OF THE SUCCESSOR AGENCY TO THE
REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
APPROVING THE SUCCESSOR AGENCY ADMINISTRATIVE BUDGET
FOR THE PERIOD JANUARY 1, 2015 THROUGH JUNE 30, 2015
WHEREAS, California Health and Safety Code section 341770) requires that the
Successor Agency to the Redevelopment Agency of the City of Huntington Beach ("Successor
Agency") prepare an administrative budget for each six month fiscal period; and
A draft administrative budget for the fiscal period of January 1, 2015 through June 30,
2015 ("Administrative Budget") is attached hereto as Exhibit A; and
California Health and Safety Code section 34177(k) requires the Successor Agency to
provide to the County Auditor-Controller administrative cost estimates for expenses from the
administrative budget that are to be paid from property tax revenues deposited in the
Redevelopment Property Tax Trust Fund for each six month fiscal period; and
All of the prerequisites with respect to the approval of this Resolution have been met.
NOW, THEREFORE, the Successor Agency to the Redevelopment Agency of the City of
Huntington Beach does hereby resolve as follows:
1. The Successor Agency hereby finds and determines that the foregoing recitals are
true and correct.
2. The Administrative Budget attached hereto as Exhibit A is hereby approved.
3. The Successor Agency staff is directed to: (i) provide the required cost estimates
for expenses to the County Auditor-Controller; and (ii) to do any and all things and to execute
and deliver any and all documents which may be necessary or advisable in order to effectuate the
purposes of this Resolution.
4. The Successor Agency does not intend, by adoption of this Resolution, to waive
any constitutional, legal and/or equitable rights of 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 Successor Agency and the City of Huntington Beach under law and/or in equity.
14-4370/112482.doc 1
S.A. Resolution No. 2014-05
PASSED AND ADOPTED by the Successor Agency to the Redevelopment Agency of
the City of Huntington Beach at a regular meeting thereof held on the 15th day of
September , 2014.
Cbairnln
REVIEW D AND APPROVED:
FV
Ex ut ve irector
APPROVED AS TO FORM:
Agency Counse
14-43 70/112482.doc 2
S. A. Resolution No. 2014-05
EXHIBIT A
ADMINISTRATIVE BUDGET FOR THE PERIOD
JANUARY 1, 2015 THROUGH JUNE 30, 2015
[behind this page]
14-4370/112482.doc 3
Ex. A - Successor Agcy Reso. 2014-05
Successor Agency
Administrative Budget
Department Budget Summary
Other Funds by Object Account
OTHER FUNDS
Expentlif t Ac BOPS 14-15B Budget
1rOTtF Administration(35o)
PERSONAL SERVICES
Salaries/Benefits-Permanent 184,710
PEtaiSbNAL SERVtES "11i
OPERATING EXPENSES
Legal Services 75,000
Other Professional Services 100,000
Other Operating 355,000
OPERATING EXPENSE'S a34,t�tlG
Tots I - 714 7'1�#
Revenue Summary RODS 14-158 Budget
Administrative Allowance 250,000
Other Funds 464,710
Total 714,710
Significant Changes
Pursuant to AB x126 and AB 1484,the Successor Agency receives RPTTF funding from the County Auditor-
Controller to pay Enforceable Obligations. The Successor Agency also receives a 3% or minimum o
$250,000 for administration of the winding down of the former Redevelopment Agency per fiscal year.
Administrative costs associated with the "wind down" and dissolution of the Redevelopment Agency that
exceed the administrative cost allowance will be funded by Other Funds, pursuant to State rules.
Administrative expenses include: personnel costs, legal, and other professional services expenses
associated with the dissolution and administration of the Successor Agency.
T; _: =_ Item 12. - 19
Successor Agency
Res. No. 2014-05
STATE OF CALIFORNIA
COUNTY OF ORANGE ) ss:
CITY OF HUNTINGTON BEACH )
I, JOAN L. FLYNN the Clerk of the Successor Agency to the former
City of Huntington Beach Redevelopment Agency, Huntington Beach, California,
DO HEREBY CERTIFY that the foregoing resolution was duly adopted by The
Successor Agency to the Redevelopment Agency of the City of Huntington Beach
at a special meeting held on September 15, 2014 and that is was so adopted by
the following vote:
AYES: Katapodis, Hardy, Shaw, Harper, Boardman, Sullivan, Carchio
NOES: None
ABSENT: None
ABSTAIN: None
off
Clerkol The Successor Affency to
the Redevelopment Agency of the
City of Huntington Beach, California