HomeMy WebLinkAboutAdopt Oversight Board Resolution Nos. 2015-02 and 2015-03 ap AGENDA REPORT
Oversight Board ®f the Huntingt®n Beach Successor Agency
t® the Redevelopment Agency
MEETING DATE: February 18, 2015
SUBJECT/ACTION: Adopt Oversight Board Resolution Nos. 2015-02 and 2015-03
approving the Recognized Obligation Payment Schedule
(ROPS) and Administrative Budget for the Huntington Beach
Successor Agency for the period of July 1, 2015, through
December 31, 2015, in accordance with Health and Safety
Code Section 34177 and related actions
STATEMENT OF ISSUE:
The Oversight Board is requested to approve the Recognized Obligation Payment
Schedule (ROPS) and Administrative Budget for the period of July 1, 2015, through
December 31, 2015. An approved ROPS must be submitted to the Department of
Finance (DOF) by March 3, 2015.
BOARD RECOMMENDED ACTION: Motion to:
A) Adopt Resolution No. 2015-02, "A Resolution of the Oversight Board to 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 2015-16A"); and,
B) Adopt Resolution No. 2015-03, "A Resolution of the Oversight Board to the
Successor Agency to the Redevelopment Agency of the City of Huntington Beach
Approving the Successor Agency Administrative Budget for the Period July 1, 2015
Through December 31 , 2015."
BACKGROUND:
As a result of the California Supreme Court's ruling on the Dissolution Act, all
redevelopment agencies in California were dissolved effective February 1, 2012. The
Dissolution Act and AB 1484 describe the procedures to wind down the affairs of the
former redevelopment agencies. These provisions include the continued payment of
recognized enforceable obligations as defined in the law. The Recognized Obligation
Payment Schedule for January 1, 2015, through June 30, 2015, requests payment for
enforceable obligations associated with the former Redevelopment Agency's Tax
Allocation bonds, development agreements, legal services, and administrative and
other miscellaneous costs. This is the first ROPS that includes a potential re-payment
to the Housing Authority for the SERAF loans. Once the SERAF loans are repaid,
future ROPS may include the repayment of the General Fund loans entered into prior
to the dissolution of the Redevelopment Agency between the City and
Redevelopment Agency. The State Department of Finance (DOF) has the authority to
review the ROPS and return it to the Successor Agency for reconsideration and
modification. Therefore, the ROPS shall not be effective until approved by the State
DOF.
This period ROPS is the second year of the new form created by the State, that
provides for the obligations to be filled in by the state and sent to cities. The
obligations that have been deemed ineligible by the State have been shaded and
"locked" by the State to allow for no City input.
The Successor Agency approved the ROPS on February 17, 2015.
The Administrative Budget for the July 1, 2015, through December 31, 2015, period
reflects a total of $250,000, which represents three percent (3%) of the projected
property tax receipts during this
ATTACHMENT(S):
1. Adopt Resolution No. 2015-02, "A Resolution of the Oversight Board to 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");" and,
2. Adopt Resolution No. 2015-03, "A Resolution of the Oversight Board to the
Successor Agency to the Redevelopment Agency of the City of Huntington Beach
Approving the Successor Agency Administrative Budget for the Period July 1, 2015
Through December 31, 2015"
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 "recogiuzed 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 15716A 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 nights 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.
h ' an
REVIEWED AND APPROVED:
E44ti lirector
APPROVED AS- �FORM:
A ncy Counsel _%A v`•
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(RDPS 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) $ 4,443,333
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 Pdor.Pedod Adjustments Column AA),
N Adjusted.Current Period RPTTF:Requested Funding{L-M) 4,480,083
Certification of Oversight Board Chairman:
Pursuant to Section 34177(m)of the Health and Safety code,I
hereby cerlify 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(BOPS 15-16A)-ROPS Detail
July 1,2016 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
Cont—t/Agreement Contract/Agreement Total Outstanding
Item# Project Name I Debt Obligation Obligation Type Execution Date Termination Date —Payee Descri tlonlPro ect Scope Project Area Debt or Obligation Refired Bond Proceeds Reserve Balance Other Funds Non-Admin Admin Six-Month Total
$ 70 500 536 - - - $ 4 333 969 $ 375 000 $ 4 230 063 $ 250 000 S 9,189,032
4,iflx:3:•A Lsnd.Bela:Emarald COYe s,t.,>_. •:3 C /Conn 1oana 16200#,MtYF`i 10112030�kh'3^s.'?;�COHB�P.atk A'80�Fund P,*+ e e0;81nAln 10 erativei a tfi Mer ed:. :h,=Yctx:J i, a t"i`:tad3 ;1. � ,,r4n; :- - W,.. •', d�R":,:...'I?2aTr >, %'31r4 x' ln_W;
2 Hyatt Regency Huntington Beach OPAIDDAIConstructi 9/14/1998 9/302023 PCH Beach Resorts LLC Disposition and Development Merged N 367,251 Y $ 367,251
Project on Agreement approved on September
14,1998 for the Waterfront
Development
3 2002 Tax Alioc.thm Refunding Bonds Issued On or 6/192002 8112024 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 Payment.
4 1999 Tex Allocation Refunding Bonds Issued On or f/12/1999 8112024 Bank of New York Trust Co.Tax Allocation Bands Debt Service Merged 5,962.295 N 632.412 $ 632,412
Bonds Before 12/31/10 Payments
5 2002 Tex Allocation Refunding Fee. 11/17/2010 11/17/2016 Arbitrage Compliance Tax Allocation Bonds arbitrage rebate Merged 500 N 500 $ Soo
Bonds 5 eclelist calculation-Federal IRS Com Iiance
6 1999 Tax Allocation Refunding Fees 11/17/2010 11/17/2016 Arbitrage Compliance Tax Allocation Bonds arbitrage rebate Merged Sao N 500 $ 500
Bonds Specialist calculation-Federal IRS Compliance
8 2002 Tax Allocation Refunding Bonds Issued On or 6/192002 8112024 Bank of New York Mellon Tax Allocation Bonds-Payment to Merged 1,600 N 1,600 $ 1,605
Bonds Before 12131/10 Fiscal Agent
e 1999 Tax Allocation Refunding Bond.I..ued On or 111211999 81112024 Bank of New York Mellon Tax Allocation Bonds-Payment to Merged 1,600 N 1,600 S 1,600
Bonds Before 12/31/10 Fiscal Agent
10 2002 Tax Allocation Refunding Fees 1/32001 8/12016 Harrell&Company Preparation and filing of Continuing Merged 700 N 700 $ 700
Bonds Advisor.,LLC Disclosure Annual Reports and
Material Event Notices
11 1999 Tax Allocation Refunding Fees 1/3/2001 8112016 Harrell&Company Preparation and filing of Continuing Merged 2,025 N 2,025 $ 2.025
Bonds Advisors,LLC Disclosure Annual Reports and
Materiel Event Notices
3x-< 2Em C - _ _ _
F 1 _.„sta__y gvs,7t1 D�Bglerkteq�e)eonpn ewedA:or 010 ;�`?"-'6112021.T "g;.USBsnk�,Va,;<N, d-Co9e20�08er1esA..Laesd"t[i7 rga s` ,.'S =rr,7s'=`• my y ' "+: ,. ,- '",'k"e; irn'F. "•s`- ."�3:nec* 5
•Betefe'�12ld(l Oi', ,,., F .; 'y w' t� y„s e. 7 ,1, -^,t •Y .1 'r.,: _ € d.+ t;a
;� r.r, k C': '' t�+'Y ReYepya d' ebtr - :i„' ' �� -�{
'f :,•tFt'.` ,; �`:'m,.f.�! .R Nn nr -� r —`. �
iA ,�
.. ...,,.... '. -x
+.. Serirlee:Pa enb r � •. 4�
13 HUD Section 108 Infrastructure Bonds Issued On ar 7/212010 8/12019 Bank of New York Mellon Legally binding and enforceable loan Merged 2,518,786 N 433,036 $ 433,o36
Loan for HyatOHilton 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/Constructl 6/1/1999 9/30/2033 CIM Group,LLC and Kane Property Tax Sharing Agreement Merged 6,748,571 N 702,904 $ 702,904
Parking&Infrastructure on Bailmar and Berkman under the Disposition and
Development Agreement(ODA)for
development of hotel,retail,restaurant,
and public parking structure.The
Implementation of the D12A and the
Sixth Implementation Agreement were
entered Into from June 1999 to
November 2008.
15 Strand Project Additional Parking OPA/DDA/Construeb 1/20/2009 9/302033 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
authodzed on January 20,2009.
16 Pacific City OPA/DDA/Constructi 10/16/2006 10/162026 Maker Properties&Kane Owner Participation Agreement Merged 5,520,000 N $on Bellmer and Berkman approved on October 16,2006 for
future development cis 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 16-16A)-ROPS Detail
July 1,2015 through December 31,2015
(Report Amounts In Whole Dollars)
A 8 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 Contract/Agreement Total Outstanding
Item# Project Name I Debt Obligation Obligation Type Execution Date Termination Data Payee Descri tionlPro ect Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds Non-Admin Admin Slx-Month Total
0.. A�182g08 y374,! r 1, . ...�:4 CPrope a*_W�1,rr s 16%allbrd ,gtlawh max'rg requliement Me gad :
air vi ran cZ . n �t. 'pilfeuarytb Iticomer
Mill
m
,f rc- i .. IoYrin mo.hoi(uind fe to be,d 4 eld '} �'f is �' _
Repo, are SERAF. ,, -6A:020 0_. 11126ft024• -e. '-2 Houehi'AUYi "r' -Le-- bfiforoeabld-4b8 0..._. _•M ad'" _. .N '" tt= "C' -
,i, ,0{ip'egmo20 .:'�'N't BaOVi,._ a .0a9 ,p°W 1 WIN
j S
".. ,. BERAFLaen �?�, �-- -a
20 Repayment of SERAF Debt SERAF/ERAF 5/10/2011 11/26/2024 Housing Authority s Legally enforceable obligation for~ Merged N $
Obligation 2010 SERAF Loan repayment
21 Abdelmudl Owner Participation OPA/DDAIConstruc8 512811991 12131/2017 Abdelmudl Development Owner Participation AgreementfRent Merged 10,000 N 10,000 S 10,000
Agreement/Rent Differential on Company Differential Agreement approved on
Agreement May 28,1991 for the development of
the three story building at the
Oceanvlew Promenade.The Third
Implementation Amendment took
effect on November 21,1994,
23 Unfunded COPIERS Pension Unfunded Liabilities 6/30/2011 11/26/2026 CalPERS Unfunded CaIPERS pension obligation Merged 2,697,641 N 125,158 $ 125,158
Liabilities as per CsIPERS actuarial valuation as
of June 30,2012
24 Unfunded Supplemental Retirement Unfunded Liabilities 9/30/2011 11/26/'2026 US Bank Unfunded actuarial accrued liability as Merged 507,550 N 68,920 S 68,920
Liabilities of September 30,2013 as per actuarial
valuation by Bartel Associates,U.C.
26 Unfunded OPEB Liabilities Unfunded Liabilities 6130/2011 I li26/2024 CaiPER8/CERBT Unfunded actuarial accrued liability as Merged 75,629 N 31,817 $ 31,817
of June 30,2013 as per Bartel
Associates,U.C.
27 Obligation for unused employee Unfunded Liabilities 9/30/2011 I lt262024 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 AS 1X26
and adminleb.ton
29 Bella Tema Parking Infrastructure OPA/DDA/Consbucb 10/22000 9/30/2025 Bella Terra Associates LLC Property Tax Sharing Agreement Merged 12,910,919 N 1,578,008 $ 1,578,008
Property Tax Sharing Agreement on required under the terms of the Owner
Participation Agreement(dated
10/2/2000)and Second
Implementation Agreement(dated
9/172007)for the development of the
Huntington Center(Sell.Terra).
Includes legal requirements to enforce
obligation.
30 Bella Tema Phase II Property Tex OPA/DDA/Consbucb 10/4/2010 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.Includes legal
requirements to Implement obligation.
32 Operative Agreement for the City/County Loans 6)171'2002 10/1/2030 City of Huntington Beach Loan repayment for advance made on Southeast Coastal N S -
Huntington Beach Redevelopment On or Before 627/11 capital projects in FY 2004/05
Project
Oversight Board Reso. 2015-02
Recognized Obligation Payment Schedule CROPS 16-16A)-ROPS Detail
July 1,2015 through December 31,2015
(Report Amounts In Whole Dollars)
A B C D E F G H f.btl
J K L M N O P
FundingSource
Non-Redevelopment Property Tex Trust Fund
Nan-RPTTF RPTTF
Contract/Agreement Contract/Agreement T
Item If Project Name I Debt Obligation Obligation Type Execution Date Termination Date Payee DescrI tionlPro ect Scope Project Area D Retired Band Proceeds Reserve Balance Other Funds Non-Adman Admin Six-Month Total
39 Legal expenses for Successor Legal 71812012 71812015 Kane Belimer 6 Berkman Legal expenses to ensure Successor Merged&Southeast 75,000 N 75,000 $ 76,000
Agency compliance with AS 1x 26 Agency compliance with AB 1x 26 and Coastal
and AB 1484 pursuant to Health and AS 1484
Safety Code Section 34171(d)(1)(F)
40 Economic Analysis services related Professional 61162010 61152015 Keyser Marston Economic Analysis consulting services Merged 6 Southeast 100,000 N 100,000 $ 100,000
to Successor Agency compliance Services to ensure Successor Agency Coastal
with AB ix 26 and AB 1484 compliance with AS 1x 26 and AB
pursuant to Health and Safety Cade 1484
Section 34171(d)(1)(F)
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Jj---'1 8 8fraq.• Jeot',,"sS' � e,{�+ .. .pngloanr"10ll8/BBT.,i-.Y3;.i ,.:�'t011 030-�-•P"•�1 SuocesaM -elray`'n..">„'. a oneocaaasooleadu`"Merge . ti.i r'rr Pity ��`-'� =�'` "! --,'- � --'-:,„•*s �,""� � •` ,:'�- -il� $ -
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'�. .,.,. _��:T,i'�,�:,�Ys�'.. ;i..a;txas'?K7� ,,:.-. ,:Sf ,•� �,. ,..t,.,.:m�'3;.7x,gntF�, ,r,r�l,-wtsw r•?� i,T ?, �? �7?aagPc, (;5a`3�{_ rr k� �`- �`.f t
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50 Enforcement of Successor Agency Admin Costs VI2012 112612024 Successor Agency,Kane Successor Agency administrative Merged&Southeast N 200,000 250,000 $ 45Q000
dissolution compliance and Balimer,Keyser Marston, obligations relating to maintaining Coastal
monitoring per AB IX26 and and Macias Gin]& payments on enbrceatile obligations
AB1484 O'Connell LLP at ai and other activilles as required by AS
1 X26
51 Successor Agency Property Property Dispositions 11112010 112612024 S 6 S Fencing,At 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 11112010 11262024 TmGreen As needed weed abatement for Merged 4,000 N 4,000 $ 4,000
Maintenance-weed control Maintenance Agency roperty
4 s'"63 Enlera Cove pp'eada' Bod -u Cn orr,F:' *• -
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- .T-.;£6 :..'r�_ 5t'. S fny:.,-fir Yr_x..ru'wAPSa3 p,P':'akT;�':' 'Wtif'.-' it•.7C..t;:azx,:,. ?!' Bervlce.Peeilaf:r�u%zss"it>w..,e�•'`'�Ur� i4;a.btu' �ta31r$ en - ;' .:.=4* •'s,- :.,}seS-"caRtm'4„a.r ti. .4ig6*i3
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 O H 1 J K L M N O P
Fundin Source
Non-Redevelopment Property To Trust Fund
Nan-RPTTF RPTTF
Contract/Agreement ContractlAgreement Total Outstanding
Item a Project Name I Debt Obligation Obligation Type Execution Date Termination Date Payee Deacri tlon/Pro ed 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/DDAICon,tmcti 10/162006 11/26/2024 Housing Authority Statutory housing obligation for Pacific Merged N j
on CI Pro ed
55 Litigation expenses for City of Litigation 21512013 2/52015 Kane BaOmer 8 Berkman Payment of litigation costs for property Merged Y j _
Huntington Beach v.Matosamoo tax payment,eligible under Health and
pursuant to Health and Safety Code Safety Code Section 34171(d)(1)(F)a,
Section 34171(d)(1)(F) amended by AS 1484
56 RDA Dissolution Audit Dissolution Audits 10/812012 10/8/2015 Vavdnek.Trina 8 Day Cc Statutorily required review/audit to Merged 8 Southeast Y j _
LLP Wnd down the RDA,such as due Coastal
diligence reviews
^'�b7 B aL 'VPro ot,tertege„ - Fro eat,.anage-ant 71) g 2� ';;�• 1 f124he"'`:rc „untl n;Bea
r: ,. - :.,� �• _ N.� Pgto u;i Pro eetm a ementdlrod aet for -Mer d .:!'tea�` -r n iN `-3f; .: ..T"'+'?r
i .�h�. O .ni Y`s":.s T �,va,G� tl" 5 -3. ar,.ta�s.�ir.:�i c, �.+,a4.11 z fc.—�•.i. ., '�kr k�^c F`� a "�`��t.y ..,,s`��-C �,� � ,� k�' *`^�;' „2.�Coati..a5t4i �....
> r :M..,.ovemeela Betle:i`ede b•.� +' ,._ .,+� j' '.�t '
t .."''SB BoOaTarrat i jaatMaaapemenl-PrglooLM aYemant?/1Rg1 alt, '•11J2B201A`� i±".R CMy olHrinungton iusadrg"?Jolaatmenagamsnt lfireat,aoeltor'^ ?t8pd: s-}#%r;.«.., ,.,_ 14.. .,. .J,_ ,!`.may' Wit: .,"�i' $ _
cR'r °n ''.zS ' 'i1uc3MG?,r cold" `; t.. .. .. ...>,... - vrti ov:iaeeG`"gene Teira�'9?'s r1 > M3 =. .fir-",� - r
s a r +-1 h•,< „� 'v' y s!;,?'s ,a ;? si _�
59 CI .FroJaotM, a erd .S-. P,roJad Management 7/1 12 -� -. 1:1l2BI2024 'rF'- GtyntHummliton Beaoll'�9 Rrolsat.monege erddlrootoostror :q Merged' .'. -i ',N <'" `*.
:. `<� CoohP1',y{r� ' �'� '' -..+•ru ?�??3,_r;�P: ,`tn'.,17 .`}!d*" ..: overoe6hi'•!cMir .- i'1',f. .t'xT�,*a' +�t _ i„ '' a. _ ');' '.�L f -- h *fir, +�`,°a�a.�;.:~ y� 4
110
... .l bw $
BC emaSTD"f P eotMeQlegement b(16f28�C�- _ '°.;" :/,t81Rg24 :w Ka r h raEoh"�`y `x"Pro eat.men_a ame direct doeEPor- .Marged,4 - x "'>N-
i: iak-`:&!.`:.ti T',ffM Col(is ,"•.•��'..ix+2 a t"1tt. u.-ff,l1•§ 1{a�`�,t ��r 9 ?'i't°�-'+9;�'- -e-_i ¢rr- ,p' '' ''7,, '`.yam'-.rG' — .,. c"c')1..- _
it"a,•<ty.8 Begs Terrell'lnerlhlet�alalyeb Pro eotMape ant BM _... ..,--.. ,n Financial uiielsis%etla""-Tin,1. .IN11 :•ri,"4:511 >.+, $-`f.1,...�. . ,'-o�..�. 41:'. * .r'a"'i o%''��_ .�kn'S'• j
' .;. ... - ..-:si Coatiti p.:._r31 5; 10 Tk1 ro24 ....P';KeyaerMeralo -.3 Pfolsotmaiagpmentdirectooet - eWe "". Tm N ..,)ra +�•.- j
�S`ir,• •. i"P ? Flnancid eri' la Begrifena II ,..� 'DTP' 3 . u '
Analy%in ,°ProJe anagerdent 8/5B0 C tiftef202.4 '� Keyeer.Meroton r�-• ProleotplenapemeM dire aet for. .Merge�, .�3§sr. p j
71."'.:,7i?:`.rx,: •fit .ah Cee6o'r?!:j` g0jr, :. �' •tiler .YI%vr ,t°n .'S °k _ '` _ Vi• 5 F r' •a ,qua-
.: .... p, Ii-=CiMx�+1�C �.,a.,.....,�.%i 11" $s �`, _..:,-.. .;:�x,. Jf �`$.'7�'�-•� �.�). ��n.�th�,s.s�;_
63 2002 Tax Allocation Refunding Bonds Issued On or 6/192002 8/12024 Bank of New York Trust Co.Amount needed to fund shortfall in Merged N j
Bends Before 12/31/10 bond reserve account
64 Successor Agency Financial Dissolution Audits 11/4/2013 11142016 Vavdnek,Trine 8 Day Co Statutorily required annual financial Merged 10,000 N j
Statement Audit LLP statement audit of Successor Agency.
65 Edinger Hotel Project Project Management 1262014 1/262017 AON Environmental Liability Policy for Merged N j
Costs Edin er Parcel Policy NPLS 15012298
- rb6 Housing Aydrur ly.. inlet, e1g.%,Adntln:;Cm x, 2/18201 ""' 'cP'"'. 1f26/t t;4"'x.Houoinp/Wtl10 'ny- ',Houaln'Fstl Adminietretiva Cootef. +• .i-'n c i •^.4, .. <, fir, r.•. �,. x�.s - ;'rer - i... v ;;tom*,r. ..n rm ,. :" ,as ,�.,.�i� ,.Y9 :r. .. !„br:,z o..,.,.ty.- a :{ '".L :ga'I.a... .i"' N `•,r,ir. ,:;{ g^t $
9 CeafAllowanW 33 Ckd dr ,.. .) fit 1 ;x5r9 ' +" - "".0° " rY'00;Mr 1. 9 Allowanee erAP471'TPFS F 4zK? i ,C ut +_ �t s ., a.f.< sr: r a wtC� r s a b S A:,:, rL
67 Big O Lease Termination Payment Property Dispositions 12/12009 6/30/2014 TBC Corporation Return of Security Deposit Payment Merged Y j _
u on lease termination
68 Repayment of SERAF Debt SERAFIERAF SI102010 11I262024 Housing Authority Legally enlomeable obiigatlan for Merged 2,732,842 N 2,732,842 j 2,732,842
Ohil ation 2009 SERAF Loan repayment
69 N
701 $
N
71
72 N j
73 N $
E
N 3
N j
NS
N $
NS
N $
N3
N N j
83 N
84 N $
N $
85 86 N $
87 N S
sit $
9
89 N j
N j
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 https://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
12/31/14)
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 12131114)
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
CtoG=(1+2-3-4),H=(1+2-3.4-5) $ $ 1 $ $ 286,180 $ 3.798.615 $ (36,180)
ROPS 1446B Estimate 01/01/15-06/30/15
7 Beginning Available Cash Balance(Actual 01/01/16)
(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 06/30/15)
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
06/30/15) Confer Determination Letter dated December 17,
4,451,791 1 1 2,619,0471 2,624,879 12014.
10 Retention of Available Cash Balance(Estimate 06/30/16)
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) $ $ $ 2,613,527 $ 286,180 $ 1.209.568 $
- -
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
e
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
RESOLUTION NO. 2015- 03
A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR
AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF
HUNTINGTON BEACH APPROVING THE SUCCESSOR AGENCY
ADMINISTRATIVE BUDGET FOR THE PERIOD JULY 1, 2015 THOUGH
DECEMBER 31, 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 July 1, 2015 through December 31,
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 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 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 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.
15-4582/117000 1
Oversight Board Reso. 2015-03
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.
h ' an
REVIEWEP AND APPROVED:
Exec e ctor
APPROVED AS T ORM:
A ncy Counsel
15-4582/117000 2
Oversight Board Reso. 2015-03
EXHIBIT A
ADMINISTRATIVE BUDGET FOR THE PERIOD
JULY 1, 2015 THROUGH DECEMBER 31, 2015
[behind this page]
15-4582/117000 3
Oversight Board Reso. 2015-03
Successor Agency.
Administrative Budget
Department Budget Summary
Other funds by Object Account
OTHER FUNDS
$� ���xaEi E _r-'-g�i-�y,m�.��, ,�z-�b r r_ s i•` h'�-T' - -
ndrt�re
RORF Administration(sso)
PERSONAL SERVICES
Salaries/Benefits-Permanent 210,000
jPER$0PjAL SE1 1lICES.: ` , a s w - °r. <_ 210 000`:
OPERATING EXPENSES
Legal Services 75,000
Other Professional Services 100,000
Other Operating 240,000
_tiOPERi-T,114 sEXPENSES
Total 625,000
3 ,
Administrative Allowance 250,000
Other Funds 375,000
Total 625,000
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.
Oversight Board
Res. No. 2015-03
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
del
Se etary of the Huntington Beach
Oversight Board of the Successor
Agency of the Former City of
Huntington Beach Redevelopment
Agency Huntington Beach, California