HomeMy WebLinkAboutOversight Board - 2015-02 RESOLUTION NO. 2015-02
A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR
AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF
HUNTINGTON BEACH APPROVING THE RECOGNIZED OBLIGATION
PAYMENT SCHEDULE FOR THE PERIOD JULY 1, 2015 THROUGH
DECEMBER 31, 2015 ("ROPS 15-16A")
WHEREAS, pursuant to AB xl 26 (as amended by AB 1484, the "Dissolution Act"), the
separate legal entity known as Successor Agency to the Redevelopment Agency of the City of
Huntington Beach ("Successor Agency") must prepare "Recognized Obligation Payment
Schedules" ("ROPS") that enumerate the enforceable obligations and expenses of the Successor
Agency for each successive six-month fiscal period until the wind down and disposition of assets
of the former Redevelopment Agency of the City of Huntington Beach; and
The Successor Agency staff has prepared a ROPS for the six-month fiscal period
commencing on July 1, 2015 and continuing through December 31, 2015 ("ROPS 15-16A")
which is attached hereto as Exhibit A; and
Under the Dissolution Act, ROPS 15-16A must be approved by the Successor Agency's
oversight board("Oversight Board"); and
After reviewing ROPS 15-16A presented to and recommended for approval to the
Oversight Board by Successor Agency staff, and after reviewing any written and oral comments
from the public relating thereto, the Oversight Board desires to approve the ROPS 15-16A; and
All of the prerequisites with respect to the approval of this Resolution have been met.
NOW, THEREFORE, the Oversight Board of the Successor Agency to the
Redevelopment Agency of the City of Huntington Beach does hereby resolve as follows:
1. The Oversight Board hereby finds and determines that the foregoing recitals are
true and correct.
2. The Oversight Board hereby approves ROPS 15-16A in the form presented to the
Oversight Board and attached hereto as Exhibit A, and hereby determines that such agreements
and obligations constitute "enforceable obligations" and "recognized obligations" for all
purposes under the Dissolution Act.
3. The Oversight Board authorizes and directs the Successor Agency staff to: (i) take
all actions necessary under the Dissolution Act to post 15-16A on the Successor Agency website;
(ii) transmit ROPS 15-16A to the Auditor-Controller and the County Administrator of the
County of Orange and to the State Controller and the State Department of Finance ("DOF"); and
(iii) to do any and all things and to execute and deliver any and all documents which may be
necessary or advisable in order to effectuate the purposes of this Resolution. In addition, the
Oversight Board authorizes and directs the Successor Agency staff to make such non-substantive
15-4582/117001 1
Oversight Board Reso. 2015-02
revisions to ROPS 15-16A as may be necessary to submit ROPS 14-15B in any modified form
required by DOF, and ROPS 15-16A as so modified shall thereupon constitute ROPS 15-16A as
approved by the Oversight Board pursuant to this Resolution.
4. The Oversight Board does not intend, by adoption of this Resolution, to waive
any constitutional, legal and/or equitable rights of the Oversight Board, the Successor Agency or
the City of Huntington Beach under law and/or in equity by virtue of the adoption of this
Resolution and actions approved and taken pursuant to this Resolution and, therefore, reserves
all such rights of the Oversight Board, the Successor Agency and the City of Huntington Beach
under law and/or in equity.
PASSED AND ADOPTED by the Oversight Board of the Successor Agency to the
Redevelopment Agency of the City of Huntington Beach at a special meeting thereof held on the
18th day of February 2015.
rr
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ha' an
REVIEWED AND APPROVED:
Ex ti irector
APPROVED AS-TOTORM:
A ncy Counsel Ajkv.
15-4582/117001 2
Oversight Board Beso. 2015-02
EXHIBIT A
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
FOR THE PERIOD JULY 1, 2015 THROUGH DECEMBER 31, 2015
("ROPS 15-16A")
[behind this page]
15-4582/117001 3
Oversight Board Reso. 2015-02
Recognized Obligation Payment Schedule(ROPS 15-16A)-Summary
Filed for the July 1,2015 through December 31,2015 Period
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): $ 4,708,969
B Bond Proceeds Funding(ROPS Detail) -
C Reserve Balance Funding(ROPS Detail) 4,333,969
D Other Funding(ROPS Detail) 375,000
E Enforceable Obligations Funded with RPTTF Funding(F+G): $ 4,480,063
F Non-Administrative Costs(ROPS Detail) 4,230,063
G Administrative Costs(ROPS Detail) 250,000
H Current Period Enforceable Obligations(A+E): $ 9,189,032
Successor Agency Self-Reported Prior Period Adjustment to Current Period RPTTF Requested Funding
I Enforceable Obligations funded with RPTTF(E) 4,480,063
J Less Prior Period Adjustment(Report of Prior Period Adjustments Column S) (36,180)
K Adjusted Current Period RPTTF Requested Funding(W) $ 4,443,883
County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding
L Enforceable Obligations funded with RPTTF(E): 4,480,063
M Less Prior Period Adjustment(Report of Prior Period Adjustments Column AA)
N Adjusted Current Period RPTTF Requested Funding(L-M) 4,480,063
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
Oversight Board Reso. 2015-02
Recognized Obligation Payment Schedule(ROPS 15-16A)-ROPS Detail
July 1,2015 through December 31,2015
(Report Amounts in Whole Dollars)
A B C D E F G H I J K L M N O P
Funding Source
Non-Redevelopment Property Tax Trust Fund
Non-RPTTF RPTTF
Contract/Agreement Contract/Agreement Total Outstanding
Item# Project Name/Debt Obligation Obli ahmn Type Execution Date Termination Date Payee Descri tnm1Prefect Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds Nan-Admin Admin Six-Month Total
$ 70,500,536 $ - $ 4,333,969 $ 375,000 $ 4,230,063 $ 250,000 $ 9,189,032
1 Land Sale Emerald Cove City/County Loan$--5M&200 10/ 30 :; , &D Fund Legally Bin.ding Operalive:Agreement. Merged N -
2 Hyatt Regency Huntington Beach OPA/DDA/Construcb 9/14/1998 9/3012023 PCH Beach Resorts LLC Disposition and Development Merged N 367,251 $ 367.251
Project on Agreement approved on September
14,1998 for the Waterfront
Development
3 2002 Tax Allocation Refunding Bonds Issued On or 6119/2002 8/1/2024 Bank of New York Trust Co.Tax Allocation Bonds Debt Service Merged 13,050,138 N 1,371 069 $ 1,371,069
Bonds Before 12/31/10 Payments
4 1999 Tax Allocation Refunding Bonds Issued On or 1/12/1999 8/1/2024 Bank of New York Trust Co.Tax Allocation Bonds Debt Service Merged 5,982,295 N 632,412 $ 632,412
Bonds Before 12/31/10 Payments
5 2002 Tax Allocafion Refunding Fees 11/17/2010 11/1712016 Arbitrage Compliance Tax Allocation Bonds arbitrage rebate Merged Soo N 500 $ Soo
Bonds Specialist calculation-Federal IRS Compliance
6 1999 Tax Allocation Refunding Fees 11/1712010 11/17/2016 Arbitrage Compliance Tax Allocation Bonds arbitrage rebate Merged 500 N 500 $ 500
Bonds Specialist calculation-Federal IRS Compliance
8 2002 Tax Allocation Refunding Bonds Issued On or 6/1 912 0 02 $1112024 Bank of New York Mellon Tax Allocation Bonds-Payment to Merged 1,600 N 1,600 $ 1.600
Bonds Before 12/31/10 Fiscal Agent
9 1999 Tax Allocation Refunding Bonds Issued On or 1112/1999 8/1/2024 Bank of New York Mellon Tax Allocafion Bonds-Payment to Merged 1,600 N 1 600 $ 1,600
Bonds Before 12/31/10 Fiscal Agent
10 2002 Tax Allocation Refunding Fees 1/3/2001 8/1/2016 Harrell&Company Preparation and filing of Continuing Merged 700 N 700 $ 700
Bonds Advisors,LLC Disclosure Annual Reports and
Material Event Notices
11 1999 Tax Allocation Refunding Fees 1/3/2001 8/1/2016 Harrell&Company Preparation and filing of Continuing Merged 2,025 N 2025, $ 2,025
Bonds Advisors,LLC Disclosure Annual Reports and
Material Event Notices
12 Emerald Cove 2010 Series A Lease Bonds Issued On dip 5/13/2010 9/1/2021 US Bank Emerald Cove 2010 Series A Lease Merged N $ -
Revenue Refunding Bonds Before 12/31/10 Revenue Refunding Bonds Debt
Service Payment
13 HUD Section 108 Infrastructure Bonds Issued On or 7/21/2010 8/1/2019 Bank of New York Mellon Legally binding and enforceable loan Merged 2,518,786 N 433,036 $ 433,036
Loan for Hyatt/Hihon Properties Before 12/31/10 agreement with the U.S.Department of
Housing and Urban Development for
capital improvements
14 Strand Hotel and Mixed-Use Project,OPA/DDA/Constructi 611/1999 9/30/2033 CIM Group,LLC and Kane Property Tax Sharing Agreement Merged 6,748,571 N 702.904 $ 702,904
Parking&Infrastructure on 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.
15 Strand Project Additional Parking OPA/DDA/Construct 1120/2009 9/30/2033 CIM Group,LLC Property Tax Sharing Agreement Merged 414,402 N 49,576 $ 49.576
on under the Disposition and
Development Agreement(DDA)and
Sixth Implementation Agreement for
the Strand projects parking structure
authorized on January 20,2009.
16 Pacific City OPA/DDA/Constructi 10/1612006 10/16/2026 Maker Properties&Kane Owner Participation Agreement Merged 5,520,000 N $on Bellmer and Berkman approved on October 16,2006 for
future development of a 31-acre site
located at Pacific Coast Highway and
First Street and financed by property
tax allocations.
Oversight Board Reso. 2015-02
Recognized Obligation Payment Schedule(ROPS 15-16A)-ROPS Detail
July 1,2015 through December 31,2015
(Report Amounts in Whale Dollars)
A B C D E F G H I J K L M N O P
Funding Source
Non-Redevelopment Property Tax Trust Fund
Non-RPTTF RPTTF
Contract/Agreement Contract/Agreement Total Outstanding
Item# Pro-act Name/Debt Obligation Obligation T e Execution e Date Termination Date Pa e Description/Project Scot, Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds Non-Admin Armin Six-Month Total
/DD
17 Pacific City-Very Low Income Units OPAA/ConsfrUCti 10/16/2006 112612024 Makar Properties 15%affordable housing requirement Merged N $on pursuant to Attachment 5 of the Owner
Participation Agreement approved on
October 16.2006.Of the 15%
required housing obligation,5%very-
low income housing is to be developed
by the Housing Authority.The
Developer is required to provide the
remaining 10%on site.
19 Repayment of SERAF Debt SERAF/ERAF ,,_ 5/10/2010 1126/2024 Housing Authority Legally enforceable obligation for Merged N $ -
Obli atio0 2009 SERAF Loan repayment
e a ment
20 Repayment of SERAF Debt SERAF/ERAF 5/10/2011 11/26/2024 Housing Authority Legally enforceable obligation for Merged - N $ -
Obfi atian 2010 SERAF Loan re a men[
21 Abdelmudi Owner Participation OPA/DDA/Constructi 528/1991 12/31/2017 Abdelmudi Development Omer Participation Agreement/Rent Merged 10,000 N 10,000 $ 10,000
Agmement/Rent Differential on Company Differential Agreement approved on
Agreement 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.
23 Unfunded CalPERS Pension Unfunded Liabilities 6/302011 11/26/2026 CaIPERS Unfunded CalPERS pension obligation Merged 2,697,641 N 125,158 $ 125,158
Liabilities as per CalPERS actuarial valuation as
of June 30,2012
24 Unfunded Supplemental Retirement Unfunded Liabilities 9/302011 11/26/2026 US Bank Unfunded actuarial seemed liability as Merged 607.550 N 68,920 $ 68,920
Liabilities of September 30,2013 as per actuarial
valuation by Bartel Associates,LLC.
26 Unfunded OPEB Liabilities Unfunded Liabilities 6/30/2011 11/26/2024 CalPERS/CERST Unfunded actuarial accrued liability as Merged 75,629 N 31,817 $ 31,817
of June 30,2013 as per Bartel
Associates,LLC.
27 Obligation for unused employee Unfunded Liabilities 9/30/2011 11/26/2024 City employees directly Obligation for unused employee Merged 71,171 N 19,405 $ 19,405
General Leave earned and vested involved in Housing and General Leave earned and vested as
Redevelopment projects per MOUs and AB 1X26
and administration
29 Bella Terra Parking Infrastructure OPA/DDA/Construct 10/2/2000 9/30/2025 Bella Terra Associates LLC Property Tax Sharing Agreement Merged 12,910 919 N 1,576 008 $ 1,578,008
Property Tax Sharing Agreement on required under the terms of the Owner
Participation Agreement(dated
102J2000)and Second
Implementation Agreement(dated
9/172007)for the development of the
Huntington Center(Bella Terra).
Includes legal requirements to enforce
obligation.
30 Bella Terra Phase II Property Tax OPA/DDA/Constructi 10/42010 7/1/2036 Bella Terra Villas,LLC Agreement approved on October 4, Merged 16,961,167 N 427,209 $ 427,209
Sharing Agreement on 2010 for construction of a 467 mixed-
use unit project.Construction is
complete and financed by property tax
allocations.Induces legal
Induct
to implement obligation.
32 Operative Agreement for the City/County Loans 61172002 10/1/2030 City of Huntington Beach Loan repayment for advance made on Southeast Coastal N $
Huntington Beach Redevelopment On or Before 627/11 capital projects in FY 2004/05
Pro ect
Oversight Board Reso. 2015-02
Recognized Obligation Payment Schedule(ROPS 15-16A)-ROPS Detail
July 1,2015 through December 31,2015
(Report Amounts in Whole Dollars)
A B C D E F G H I J K L M N O P
Funding Source
Non-Redevelopment Property Tax Trust Fund
Non-RPTTF RPTTF
Contract/Ag—traint Contlact/Agreement Total Outstanding
Item# Project Name/Debt Obligation Obligation Type Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Batance Other Funds Non-Admin Admin SixWonth Total
39 Legal expenses for Successor Legal 718/2012 7/8/2015 Kane Ballmer&Berkman Legal expenses to ensure Successor Merged&Southeast 75,000 N 75,000 $ 75,000
Agency compliance with AB ix 26 Agency compliance with AB I 26 and Coastal
and AB 1484 pursuant to Health and AB 1484
Safety Code Section 34171(d)(1)(F)
40 Economic Analysis services related Professional 6/152010 6/15/2015 Keyser Marston Economic Analysis consulting services Merged&Southeast 100 000 N 100,000 $ 100.000
to Successor Agency compliance Services to ensure Successor Agency Coastal
with AB 1x 26 and AB 1484 compliance with AB I 26 and AB
pursuant to Health and Safety Code 1484
Section 34171(d)(1)(F)
41 7 Center Redevelopment City/County Loans 619/2005 10/1/2030 Successor Agency Land and Right-of-way acquisition Merged N $ -
Plan'``el.pment On or Before 627/11 costs connected with the Gothard-
Hoover Extension project and
development of a public storage facility
42 Main-Pier Redevetopment Project CnyiCounty Loans 6110)2005 10/l/2030 Successor Agency Costs incurred to acquire land within Merged N $
Phase II On or Before 6/27/11 the Main-Pier project area for Phase II
development projeis
43 Development of Downtown Main- City/County Loans 6/4/1990 10/1I2030 Successor Agency Costs incurred to acquire land within Merged N $ -
Pier project area On or Before 627111 the Main-Pier project area to
implement the construction of parking
facilities within the Downtown Main-
Pier area
44 Thud Block West City/County Loans 6/182005 10/12030 Successor Agency Relocation,property acquisition,and Merged N $ -
commercial/residential project On or Before 627/11 other project costs associated with the
Third Block West
Condominium/RataiYOffice project in
the Main-Pier Redevelopment project
area
45 Second Block Alley and Street Bonds Issued On or 6/10/2005 10/112030 Successor Agency Property acquisition cost associated Merged N $ -
Improvement Project Before 12/31/10 with the Second Block alley and street
improvement project
46 Strand Project City/County Loans 6/18/2005 101t12030 Successor Agency Relocation costs paid to Wind and Sea Merged N $On or Before 6127/11 Surf Shop
47 Pierside Hotel(Retail/Parking City/County Loans 5/15/1192 10/l/2030 Successor Agency Relocation costs paid to Terry's Coffee Merged N $
Structure Project On or Before 6/27/11 Shop and First Interstate Bank
48 Waterfront Commercial Master Site City/County Loans 3/111989 10/1/2030 Successor Agency Costs related to the relocation,buyout, Merged N $ -
Plan On or Before 627111 and demolition of Driftwood and Pacific
Mobile Home Parks related to the
Waterfront Commercial Master Site
Plan
49 Strand Project City/County Loans 10/19/1992 10/112030 Successor Agency Property acquisition costs associated Merged N $ -
On or Before 627111 with the Strand Project
50 Enforcement of Successor Agency Admin Costs 2/1/2012 11/26/2024 Successor Agency,Kane Successor Agency administrative Merged&se"thenst N 200.000 250,000 $ 450,000
dissolution compliance and Ballmer,Keyser Marston, obligations relating to maintaining Coastal
monitoring per AB 1X26 and and Macias Gini& payments on enforceable obligations
AB1484 O'Connell LLP at at and other activities as required by AB
1)(26
51 Successor Agency Property Property Dispositions 11112010 11/26/2024 S&S Fencing,Al Fence Fencing to secure Successor Agency Merged 3,500 N 3,500 $ 3,500
Maintenance Fencing Co.,American Fence Property
Company
52 Successor Agency Property Property 11/12010 1112612124 T.Green As needed weed abatement for Merged 4,000 N 4.000 $ 4,000
Maintenance-weed control Maintenance Agency property
53 Emerald Cove 2010 Series A Lease Bonds Issued On or 5/302010 9/12021 US Bank Emerald Cove 2010 Series A Lease Merged N $ -
Revenue Refunding Bonds Before 12/31/10 Revenue Refunding Bonds Debt
Service Payments
Oversight Board Reso. 2015-02
Recognized Obligation Payment Schedule(ROPS 15-16A)-ROPS Detail
July 1,2015 through December 31,2015
(Report Amounts in Whole Dollars)
A B C D E F G H 1 J K L M N O P
Funding Source
Non-Redevelopment Property Tax Trust Fund
Non-RPTTF RPTTF
Contract/Agreement ContractrAgreement Total Outstanding
Item# Project Name/Debt Obligation Obligation Type Execution Date Termination Date Payee Descri lion/Pro ect Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds Non-Admin Admin Six-Month Total
54 Pacific City-Very Low Income Units OPA/DDA/Constructi 10/162006 11262024 Housing Authority Statutory housing obligation for Pacific Merged N $ -
on City Project
55 Litigation expenses for City of Litigation 2152013 2/52015 Kane Balmer&Berkman Payment of litigation costs for property Merged Y $ -
Huntington Beach v.Matosantes tax payments eligible under Health and
pursuant to Health and Safety Code Safety Code Section 34171(d)(1)(F)as
Section 34171(d)(1)(F) amended by AS 1484
56 RDA Dissolution Audit Dissolution Audits 10/82012 10/82015 Vavrinek,Trine&Day Co Statutorily required review/audit to Merged&Southeast Y $ -
LLP wind down the RDA,such as due Coastal
diligence reviews
57 Bella Terra I Project Management Project Management 2/1/2012 11/26/2024 City of Huntington Beach Project management direct cost for Merged N $ -
costs overseeing Bella Terra 1
58 Bella Terra 11 Project Management Project Management 2112012 11/262024 City of Huntington Beach Project management direct cost for Merged N $ -
Costs overseeing Bella Terra 2
59 CIM Project Management Project Management 2112012 11/262024 City of Huntington Beach Project management direct cost for Merged N $ -
Costs overseeing CIM
60 Bella Terra I Financial Analysis Project Management 6/15/2010 11126/2024 Keyser Marston Project management direct cost for Merged N $ -
Costs Financial analysis-Bella Terra 1
61 Bella Terra II Financial Analysis Project Management 6/15/2010 11/2612024 Keyser Marston Project management direct cost for Merged N $ -
Costs Financial analysis-Bella Terra 11
62 CIM Financial Analysis Project Management 6/15/2010 11/262024 Keyser Marston Project management direct cost for Merged N $ -
Costs financial anal is-CM
63 2002 Tax Allocation Refunding Bonds Issued On or 6/19/2002 8/1/2024 Bank of New York Trust Co.Amount needed to fund shortfall in Merged N $ -
Bonds Before 12/31/10 bond reserve account
64 Successor Agency Financial Dissolution Audits 11/4/2013 11/4/2016 Vavrinek,Trine&Day Co Statutorily required annual financial Merged 10,000 N $
Statement Audit LLP statement audit of Successor Agency.
65 Edinger Hotel Project Project Management 126/2014 1/26/2017 AON Environmental Liability Policy for Merged N $ -
Costs Edin er Parcel Polic #PLS 15012298
14 11/262024 Housing Authority Housing Entity Administrative Cost N $ -
Allowance per AP 471
67 Big O Lease Termination Payment Property Dispositions 12/1/2009 6/30/2014 TBC Corporation Return of Security Deposit Payment Merged Y $ -
on lease termination
68 Repayment of SERAF Debt SERAF/ERAF 5/10/2010 11/26/2024 Housing Authority Legally enforceable obligation for Merged 2,732,842 N 2.732,842 $ 2,732,842
Obli ation 2009 SERAF Loan repayment
69 N $ -
70 N $
71 N $
72 N $
73 N $
74 N $
75 N $
76 N $
77 N $
78 N $
79 N $
80 N $
81 N $
82 N $
83 N N
84 N
85 N
86 N
87 N
88 N 89 N
Oversight Board Reso. 2015-02
Recognized Obligation Payment Schedule(ROPS 15-16A)-Report of Cash Balances
(Report Amounts in Whole Dollars)
Pursuant to Health and 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 funding source is available
or when payment from property tax revenues is required by an enforceable obligation. For tips on how to complete the Report of Cash Balances Form,see httl)s://rad.dof.ca.gov/rad-
sa/pdf/Cash Balance Agency Tips Sheet.pdf
A B C D E F G H I
Fund Sources
Bond Proceeds Reserve Balance Other RPTTF
Prior ROPS Prior ROPS
period balances RPTTF
Bonds Issued on and DDR RPTTF distributed as Rent, Non-Admin
or before Bonds Issued on balances reserve for future Grants, and
Cash Balance Information by ROPS Period 12/31/10 or after 01/01/11 retained period(s) Interest,Etc. Admin Comments
ROPS 14-15A Actuals(07/01/14-12/31/14)
1 Beginning Available Cash Balance(Actual 07/01/14)
7,065,318 632,542 3,716,795
2 Revenue/Income(Actual 12/31/14)
RPTTF amounts should tie to the ROPS 14-15A distribution from the
County Auditor-Controller during June 2014
397,150 1,525,922
3 Expenditures for ROPS 14-15A Enforceable Obligations(Actual
12131/14)
RPTTF amounts,H3 plus H4 should equal total reported actual
expenditures in the Report of PPA,Columns L and O 346,362 1 315,330 1,525,922
4 Retention of Available Cash Balance(Actual 12/31/14)
RPTTF amount retained should only include the amounts distributed as
reserve for future period(s) 7,065,318
5 ROPS 14-15A RPTTF Prior Period Adjustment
RPTTF amount should tie to the self-reported ROPS 14-15A PPA in the No entry required
Report of PPA,Column S
36,180
6 1 Ending Actual Available Cash Balance
C to G=(1+2-3-4),H=(1+2-3-4-5) $ $ $ _ $ 286,180 $ 3,798,615 1 $ (36,180)
ROPS 14.15E Estimate 01/01/15-06/30/15)
7 Beginning Available Cash Balance(Actual 01101115)
(C,D,E,G=4+6,F=H4+F4+F6,and H=5+6) $ $ $ 7,065,318 $ 286,180 $ 3,798,615 $
8 Revenue/Income(Estimate 06130/15)
RPTTF amounts should tie to the ROPS 14-15B distribution from the
County Auditor-Controller during January 2015 30,000 2,624,879
9 Expenditures for ROPS 14-15B Enforceable Obligations(Estimate Estimates were obtained per DOF's Meet and
06130/15) Confer Determination Letter dated December 17,
2,C24,879 2014.
10 Retention of Available Cash Balance(Estimate 06130115)
RPTTF amount retained should only include the amounts distributed as
reserve for future period(s)
11 Ending Estimated Available Cash Balance(7+8-9-10) $ _ $ _ $ 2,613,627 $ 286,180 $ 1,209,668 $
Oversight Board REso. 2015-02
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Oversight Board
Res. No. 2015-02
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF HUNTINGTON BEACH )
I, JOAN FLYNN, Secretary of the Huntington Beach Oversight Board of
the Successor Agency of the Former City of Huntington Beach Redevelopment Agency,
Huntington Beach, California DO HEREBY CERTIFY that the foregoing resolution was
duly adopted by the Huntington Beach Oversight Board of the Successor Agency of the
Former City of Huntington Beach Huntington Beach Redevelopment Agency at a
meeting held on February 18, 2015 and that it was so adopted by the following vote:
AYES: Board Members: Hardy, Katapodis, L. Dunn, Fritzal
NOES: Board Members: None
ABSENT: Board Members: Bone, Delgado, A. Dunn
ABSTAIN: Board Members: None
S retary of the Huntin on Beach
Oversight Board of the Successor
Agency of the Former City of
Huntington Beach Redevelopment
Agency Huntington Beach, California