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Home My WebLink AboutEconomic Developmnet Department Overview (Study Session) Economic De velopment Department a *""Wh at We Do " x -0 April 17 2006 7.1 Objective This Council Study Session on Economic Development is a direct result of the City's Strategic Plan. '.. x4 D ivisions . • Business Development • Redevelopment • Housing • Real Estate 11I ;Iv PI, I''iR Economic .� �- Class tt �� Development Of 200 6 ,x y r ,N E, • Business Development Business Assistance • Business Attraction • Business Retention • Business Expansion y F Jf i / y / ':fa�)d�rtrart la�p�d, Ana, f ; 4 r; 11I ftiminsfer I i Business Development • Ombudsmanship B I D's • Technical Assistance • Downtown • S BAC • Hotel/Motel • Permit Guide • Auto Dealers • Web Site • Chamber of • Ochoa Job Center Commerce • Sales Tax • Conference & Agreements • West Orange County Visitors Bureau Cities Partnership • industrial Visits • Site Location ' ' Business Development • Publications Special Projects • Marketing • Entry Nodes • Economic • Leakage Analysis Conference • Sales Tax Analysis • Trade Shows • Pennant Program • Arts / Crafts Fair • Retail Center List • Surf City VISA Redevelopment • Project Areas • Administration - Procedures • Tax Increment Financing • Housing Set-Aside 20% • Pass Through Payments • Education Revenue Augmentation Funds (ERAF) • Projects California Health and Safety Code 33000 - 34160 Redevelopment Project Areas • Huntington Beach, Merged Project Area • Main — Pier • Talbert Beach • Yorktown Lake • Oakview • Huntington Center • Southeast Coastal Project Area B SCAU ��. _... Huntington Beach Merged Project }[y �r ..� AM �•.. tM5Af19CA WEftAN7i$ / �P ` -� lAUl1If•1(A(q� .. 7Z 5 iE R�1AiMnOW he vote ._ Lai A Io m to Wedeve Southeast , Coastal Projecf .E Redevelopment Cycle • Identify Areas of Blight • Incompatible Land Uses • Infrastructure Deficiencies • Adverse Economical & Physical Conditions • Adoption of Redevelopment Plans • Implementation Plans • Projects. • Reporting • Termination , , Redevelopment Tool Box • Financial • Issue Bonds • Community Facilities Districts • Loans • Agreements • Public and Private Partnerships • Acquire and Sell Property • Public Improvements 1,400,000,000 1,200,000,000 7,000,000,000 � � • / 800,000,000 600,000,000 +100,000,000 200,000,000 0 1999- 2000 2000 - 2001 2001 - 2002 2002 - 2003 2003.2004 2004- 2005 2005 .2006 FY 2005/2006 Tax Increment $ 12,590,000 Set Aside $ 2 , 500 ,000 14,000,000 1 Z000000 10,000,000 s,0o0000 6,000,000 4,000000 2,000,000 0 2000 - 2001 2001 2002 2002 - 200 2003 -2004 2004 - 2005' 2005 - 2006 FY 2005/2006 Debt Repayment $ 37343,000 Capital Projects $ 2 100,000 Redevelopment Projects • The Strand • AES Plant • Bella Terra Valuation • Pacific City HB Wetlands • Waterfront Wildlife Care • Center Downtown Promenade ' Affordable Housing Department of Housing & Urban Development (HUD) Grants The City Receives Three Annual Entitlement Grants • Community Development Block Grant (CDBG) — $ 1 .6 Million in 05/06 • HOME Investment Partnership Program ( HOME) • American Dream Downpayment Initiative (ADDI ) 1 < la HUD Grants • Federal ly-mandated procedures , policies and reporting requirements • Projects include : • Social Services • Infrastructure and Public Facility Construction I • Affordable Housing Rental Units • Housing Rehabilitation Loans Community Development Block Grant Benefit low-moderate income residents or areas • Figures for a Family of Four (2006) • Median Income = $787300 • 50% of median = $397150 • 80% of median = $627640 1- Community Development Block Grant Funds Used For: • Administrative • Capital Costs Improvement • Fair Housing Projects Council • Code Enforcement • Public Services • Housing Rehabilitation n CDBG n aement c Areas i CDBG Enhancement Areas (source: Census 2000) City of Huntington Beach aa� _ � whm Capital projects � t �E e must lie within ............ "Enhancement IN Areas .......... ':GerfiNd Ji, ........... ........... yowt� ............. .................. RM Mgmawey I�ft ...... E E E E E E " li EEE E €E, C E fudems 11 P >€E -City Bame.EX / �r € COBG Enhancement Areas Adams NewAena JR ease Chi.-Wi Gent wew � MC -field M WashingtonMM M E Gaaermeat Yorktown .7 CDBG — Budget Process • Citizen Participation Advisory Board (CPAB) • Monthly community meetings • Conduct Site Visits to activities • Staff develops recommendations • CPAB develops recommendations. • CDBG funding recommendations presented to City Council for approval HOME Investment Partnership Progr am • Low-Moderate Income Housing • $823,000 in 05/06 • $773,895 in 06/07 • Minimum 15% of funds designated to Community Housing Development Organization (CHDO) • Economic Development Committee review HOME proposals 0 Presented to City Council for approval American Dream Downpayment Initiative (ADDI) • HUD's newest grant program • Exclusively for First Time Homebuyer downpayment assistance • $28 , 000 in 05/06 • $ 14 , 083 in 06/07 • Currently under review for incorporation � into Affordable Housing Program .kx AT La Affo rdable Housing Redevelopment Housing Programs - Housing Set-Aside & HOME Funds 9 Acquisition & Rehabilitation • New Construction • Second Trust Deeds • First-Time Homebuyer Loans . a4 Affordable Housing Zoning Ordinance Programs • Inclusionary Housing • Density Bonus • Single Room Occupancy Other City Housing Programs • Emerald Cove Senior Apts. • Ocean View Estates Mobile Home Park Existing Projects City/Agency Program Units Subsidy Acquisition & 376 $ 15, 038 , 813 Rehabilitation Housing Development 445 $97417 , 000 Inclusionary Housing 549 $79 ,079 1 Total 1 )3701 $24,5349 892 1 Ownership Projects • 10 Projects - • Developed Between 1993 — 2005 • Total of 343 Affordable Units • Average Household Income = $56 , 245 • Average Household Size = 2 .2 All Home Loans Second Trust Deed & First Time Homebuyer Loans • Remaining Loans = 17 • Average Loan Amount = $33,371 Rehabilitation Loans • Total Loans = 259 • Average Loan Amount = $ 16,891 • Average Household Income = $237126 (2005) • Total Loan Portfolio = $373197198 Rental Projects • 25 Rental Projects • Developed Between 1986 — 2005 • 16 Rehabilitated Properties • Total of 1 , 026 Affordable Rental Units 1 La Real Estate Services • Provide Centralized Real Estate Services • Negotiate & Administer Real Estate Transactions • Key Functions Include: I' • Technical Support for Acquisition of Land & Easements • Relocation • Property Disposition • Appraisals and Title Research • Leasing of Land & Facilities • Strategic Planning for City Property • City & Agency Property Inventory Real Estate Services Typical Leases & License Agreements • Beach & Park Concessions • City Facilities. • Land Leases • Telecommunications (Cellular Antennas & Equipment) Real Estate Services Illustrative Concession Operator Selection Process • City Issues Request for Qualifications • Proposals Reviewed • Proposals Ranked According to: Qualifications, Business Plan, Menu, References Lease Terms Negotiated With Highest Ranking Proposer • Recommended Operator & Lease Terms Submitted to EDC for Consideration • If Endorsed by EDC, Lease is Submitted for Council Approval Real Estate Services Typical Components of Property Acquisition • Property Valuation • Purchase Negotiations • Resident Relocation • Escrow & Title Coordination Real Estate Services Illustrative Acquisition Process - Fee Interest for Right-of-Way (ROW) Project • Needs Identified by Public Works • Property to be Acquired is Appraised • Project Obtains Environmental Review & Clearance • If Relocation Is Required Consultant is Hired to: • Prepare Relocation Plan • Move & Entitlement Process Real Estate Services Illustrative Acquisition Process _ (continued ) • City Makes Offer to Purchase to Property Owner • Upon Acceptance of Offer, Purchase Agreement is Submitted to Council for Approval • At Close of Escrow, Property is Transferred to City Thank for your support.