HomeMy WebLinkAboutAmendments to the Recognized Obligations Payment Schedule - AGENDA REPORT
Oversight Board of the Successor Agency to the
Redevelopment Agency
MEETING DATE: May 14, 2012
SUBJECT/ACTION: Approve the Amendments to the Recognized
Obligation Payment Schedule (ROPS) for the Period of January 1, 2012 through
June 30, 2012; and approve the ROPS for the Period of July 1, 2012 through
December 31, 2012
RECOMMENDED ACTION
1) Approve amendments to the Recognized Obligation Payment Schedule
(ROPS) for the period covering January 1, 2012 to June 30, 2012.
2) Approve the Recognized Obligation Payment Schedule (ROPS) for the period
covering July 1, 2012 to December 31, 2012.
BACKGROUND AND DISCUSSION
On December 29, 2011, the California State Supreme Court announced its ruling
upholding ABx1 26 dissolving redevelopment agencies. Based upon the Court's
ruling, Successor Agencies were required to adopt an Enforceable Obligation
Payment Schedule (EOPS) and a Recognized Obligation Payment Schedule
(ROPS) that reflect the legally enforceable financial obligations of the former
redevelopment agencies. The EOPS and ROPS were last approved on April 2,
2012, for the January 2012 through June 2012 period. Oversight Board
authorization is requested to make amendments to the ROPS for the January 1,
2012 through June 30, 2012 period to reflect adjustments requested by the State
Department of Finance. Authorization is also requested to approve a new ROPS
for the next six-month period of July 1, 2012 through December 31, 2012, as
required pursuant to ABx1 26.
ABx1 26 defines the EOPS and ROPS as listings of all legally binding and
enforceable agreements or contracts of the former Redevelopment Agency,
including those necessary for the continued administration and operation of the
Successor Agency. First, the EOPS was adopted on August 15, 2011; it was
subsequently amended on January 31, 2012, and April 2, 2012; and submitted to
the County Auditor-Controller, State Department of Finance (DOF) and the State
Controller's Office, pursuant to ABx1 26. The ROPS, which is virtually identical to
the EOPS, was first approved administratively on January 31, 2012, and was
later amended and formally approved by the Oversight Board on April 5, 2012.
That ROPS covered the period January 1, 2012 through June 30, 2012.
Staff has created a new ROPS for the enforceable obligations that will need to be
paid over the next six-month period, or July 1, 2012 through December 31, 2012,
pursuant to ABx1 26. Staff has also made amendments to the previously
approved ROPS for the January 1, 2012 through June 30, 2012 period, to
remove payments that the State Department of Finance contends are not
enforceable obligations. Please note that staff is disputing the State's contention
that any items listed on the ROPS are not enforceable obligations and we will be
providing additional documentation to the State in support of our position with the
assistance of outside Counsel. However, in order to obtain approval for the
remaining items on the ROPS, the disputed items have been removed until
further notice.
The State Department of Finance notified the Huntington Beach Successor
Agency on April 30, 2012, that the loans and advances that were made by the
City to the Redevelopment Agency, that have a remaining outstanding balance of
$71.8 million, are not enforceable obligations under ABx1 26 Section 34171 (d).
In order for the Successor Agency to continue making payments for the other
undisputed items on the ROPS for the January 1, 2012 through June 30, 2012
period, it is advisable that the ROPS include amendments to remove the disputed
items until a final determination has been made. Hence, Attachment A removes
the loans between the City and the Redevelopment Agency that are currently
under dispute; however, please note that we are reserving our full right to legally
challenge the State's position. In addition, the State has also disputed $314,000
of legal, audit, consultant and staffing costs as they contend these costs are
administrative and exceed the cap for administrative expenses.
The ROPS must be prepared and submitted every six months. The attached
ROPS for the period of July 1, 2012 through December 31, 2012 is due by May
15, 2012, according to the Department of Finance. This tight deadline is required
in order for the DOF to review and approve the items on the ROPS prior to the
distribution of property taxes by the County Auditor Controllers on June 1, 2012.
Please also note that the ROPS is subject to review and certification by an
external auditor as to accuracy. The County Auditor-Controller will conduct an
audit of the ROPS by July 1, 2012, and submit its findings to the State
Controller's Office by July 15, 2012.
ALTERNATIVE ACTION
The Oversight Board may desire to approve alternative amendments to the
Recognized Obligation Payment Schedule (ROPS) for the Period of January 1,
2012 through June 30, 2012; and/or approve an alternative ROPS for the Period
of July 1, 2012 through December 31, 2012.
Attachments
ATTACHMENT
# 1
Name of Redevelopment Agency: The Redevelopmenl Agency el the City of Huntington Beach ATTACHMENT A 1 of 2
Project Area(.) Merged Project Also
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
DISPUTED ITEMS
Period Covered:January 1,2012 through June 30,2012
Contract/ Wet Payable from the Redevelopment Property Tex Trust Fbnd(RPTTF)
Agreement Outstanding Payment.by Me th
Debtor Total Due During '--Funding
Project Name l Debt Dbilgatlon--'- Execution Oats Payee Description" Project Area Dbll Ilan 1FIx*.IY-lI/j2 Source Jan 2012 Feb2012 Mar 2012 Apr 2(112 May 2012 June 21)12 2012 Total,
1)xakwva-�.k.R.a.wlapmentr Jun,-1- city at Hunnngwn-0-h 6.S. bmdingoparagva Agra•m.nta ra Merged wB oa2 zg gFs Rp-TTF 28Xq i zna7�
nng Merged
14,528 RPTTF 14s28 l sa e
3)W1nyl.f-R.doa.bpm:ati-0a. lass-v+daua- gngngta�ga><h M.rgad 1A42,921 34s75 RPrtF 64s75 3--s4,e7J
4)Redovabpmsnt;.ndHuMingbn COfwf-HuMlrgbn-S,1aq Margad 2;alarsB2 es,3gs RR:PrF 9611" 3-es'3B8
5)c.Mercomar.raalal.ukt Am.ndmanla csµoFHunOn6lon-6.ash YWMs%"1ak,Wbwt8aaoh1M-In- Merged c64,071 22,252rET-
;MjpWnafl, 22,257 5 a?252
Fr)Rad.vappm.MF14-j is gua�igpg ClyatlduMirgbn-Ssash RJ,r,.pakvlavry-pndTlungrgton-CaM.r Merged 6s-047 6ss47 3 ...47:
A �aW Camm.talal-0latdsl Msr9ad 40,002 10,002 i 10A0=
9) Mottled 3,300 3,3g0 i 1.=
W Csyat+lungngtatvg,aah µdaracl-Rafe-3,g1ii Merged 2W53 N63
40) �•••h Merged 3,403 2B g412sg414421 C*.tNunun6w"-0s°ah Me 17,56s gig ssg $ ...
43)vRdpurchacod- rwmm.wial- aspl•mwrty-ounn6 Margad 7s;363 RP�[F74)�MOq*tl'a �"t+ 'm00 231,307� RP# 224245 10M4WD City-9 H rt n@--n---.h M.rS,d --99A5&11a 44MrM RRFfF 4i6g,- 272,31FCoy-1-14 nWgba6oaeh n� Merged 375203 RPTTF 362.22��"���+`-°f-Hnn"�enMerged -. ,l5 427;495 RPTTF 4g6T7811S)Land 8.1.Emerald Cove May 18,2009 COHB Perk A e 0 Furl Legally Blnding Dparallve Agreement
Principal Amount-$1,740,834,Interest
Rot-3.01%,Debt Incurred on May IS,
2089Merged 5.468,098 RPTTF S
1W COHe-vwt.,UWy ga"Imdingop-aw.4graomanaw Marrow RRUP114 Mottled -35se,.161 RRzr€
inrraahaauneVenstrucli lar- ass? CGHe-cralnae.-Wily lagauy-ginaMe�wtaua.,agraaaww-
IhsJA.inaq.r-Rrsjad Pdnapa --326g;ggg,-1nmw.tRa
3s1%,.D.bt4 ebun.wrd-Inaas7 Merged -s83;eue RPTTF s
2z1 s,W,mnaw cow".u"Ifily 1,tl.gy ak dkWGwwUvAara,,,n'
MaBaw Pry.. lass
3,e1x,�.btlnaur,.d ans.pt.mbarn-
aaa0 l Wo- RPTTF 3 -
23) 4084 CCHe-P.&A-a.O Fund LeggaayIfinal,g-eperanv,-Agroomenl-
AsquINllonF.a wheiturAmount-s3",I In'°t Merged RR3TF 3
COHas.%,r-wily '" Beb� rta°n 7ve4 RPTTF
Merrill" 3
25)oaren.d-o.valapw-F,.o-onamag,-Fee csWD trag"ally
Merged -_112,92 RPTTF i
T.I.I.-Thle Page 3 5,468,09B 3 - RPTTF $ - $ $ 3 - $ It - $ -
Total.-RDPS RPTTF Paget $ 38,422,408 3 3,170,9B2 RPTTF $ 517,588 3 3 $ 2.650,599 $ $ 1.775 $ 3,17D,962
Total.-RDPS RPTTF Page3 3 21,208.075 3 1.347,322 RPTTF $ 20.794 $ 2B,794 3 2B,7B5 3 754.274 $ 25,534 3 467,131 3 1,341,322
Total.-ROPE RPTTF Page 4 $ 8,560.550 3 284,54B RPTTF $ 6,706 $ 20,515 i 9,208 $ 7,706 3 7.706 3 232.706 3 284,548
Total.-BOPS RPTTF Page 5 - 3 915.109 3 54.060 RPTTF It $ 3 - 3 49,080 It $ 5,000 3 541000
Weis-ROPS Admin Cast Allow Page 6 3 25cloon S 250,000 AOMIN $ 41,607 $ 411667 3 41,887 3 41.687 3 41,867 3 41,605 3 250.000
Totals-BOPS Pass Through Page 7 3 2.653,000 S 2,1153,000 PASS THRU 3 - $ 350,000 3 $ - $ $ 2.303,000 3 2.653.000
Totals-ROPE Other Page 3 45,405,322 3 1,681,118 OTHER $ - $ - $ $ 1.681,118 3 - $ $ 11681.1 is
Grand total-All Pages $ 120,962,570 3 5,441,006 3 587,755 3 438,879 3 77,S6S 3 5,190,422 3 14,901 3 3,071,277 It 9,441,008
- Th.Preliminary 01.11 Recagnl2.d Obligation Payment Schedule)ROPE)Isla be completed by 31112012 by the successor agency,and subsequently be approved by the oversight board before the final RODS is submitted to the Slate Controller and Stele Department of Finance by April
15,2012.It Is not a requirement that the Agreed Upon Procedures Audit be completed before submitting the final Oversight Approved ROPS to the Slate Controller and State Department of Finance.
Notwithstanding AS 11126,these agreements are Included because among other reasons,they are validated by operation of law prior to AS 1%26.
^Funding saro ceS from the successor agency:)Far fiscal 2011-12 only,references to RPTTF could also mean tax increment allocated to the Agency prior to February 1,2012.)
RPTTF-Redevelopment Property Tax Trusl Fund Bonds-Bond proceeds Other-reserves,rents,interest earnings,etc.
LMIHF-Low and Mad-10 Income Housing Fund Admin-Successor Agency Adminislmllw Allowance
^"The outstanding debts lot line Items 147 and 19-25 ere stricken as they are under dispute with the Department of Finance;however,the Successor Agency reserves the right to pursue legal remedies,as necessery.and or provide addllionel documentation.
ATTACHMENTA 202
Name of Redevelopment Agency: The Redevelopment Agency of the City of Huntington each
Project Area(s) Merged Project Area and Southeast Coastal Project Area
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
DISPUTED ITEMS
Period Covered:January 1,2012 through June 00,2012
Gonb.cl/ Total Payable from the Administrative Allowance Allocations"'•
Outstanding Total Due During Payments by month
Agreement Debtor Fiscal Year -Funding
Project Name/Debt Obligation""' Execution Dale Payea Descdplion•• Project Area Obligati- 11112 Source Jan 2012. Feb 2012 rM.,2012 Apr 2012 May 2012 June 2012 2012 Totals
44&-f—meat-etsuscesser,4ea.+w-somplianse January-tMeu®h Susses...-Agarwl' sussecseFA6ansy'adminietraave-ekli
an�6 Juna_2G32 r.lagng to ffi- tainin6-Payr—t-ea
as F-9-k-d hyAe-4aF26 Merged Adam ---3f,499 �f,4gg ;�1o;6g:
23 Januaq`th,°rah Su..a.. 4.n. Su
per-A�fX26 Jun�'"3^�
.rd.mea4la-.41ryte�tiea.-and-ethe.-asgvitias
.6F84 mdtyAS1)426
Southeast- g�a6 ;- 6,26:
6eastal Admla
3)Enforcement of Successor Agency compliance January through Successor Agency,Kane Bailmer, Successor Agency adminishalive obligations
end monitoring per AS 1X26•^'" June 2012 Keyser Marston,and Macias Gini relating to maintaining payments on
&O'Connell LLP enforceable obligations and other activities Merged&
as required by AB 1X26 Southeast
Coastal 250,000 250000 Admin 41,667 41,667 41,667 41,667 41,667 41,665 $ 250,000
$ 250,000 1$ 250000 Admin 1$ 41,667 $ 41,567 $ 41,667 $ 41,667 $ 41,667 1, 41,665 ; 250,000
The Preliminary Draft Recognized Obligation Payment Schedule(RDPS)Is to be completed by 7/1/2012 by the successor agency,end subsequently be approved by the oversight board before the final RDPS is submitted to the Stain Controller and State Department of Finance by Apr
l
16,2012.It is not a requirement that the Agreed Upon Procedures Audit be completed before submitting the final Oversight Approved RDPS to the State Controller and State Department of Finance.
"Notwithstanding AS 1 X26,these agreements are included because among other reasons,they are validated by operation of law prior to AS 1X26.
-Funding sources from the successor agency:(For fiscal 2011-12 only,references to RPTTF could also mean tax increment allocated to the Agency prior to February 1,2012.)
RPTTF-Redevelopment Property Tax Trust Fund Bonds-Bond Proceeds Other-reserves,rents,Interest earnings,etc
LMtHF-Low and Moderate Income Housing Fund Admin-Successor Agency Administrative Allowance
•'•'Administretive Cost Allowance ceps ere 5%of Form A 6-month totals in 21111-12 and 7%of Form A 6-month totals in 2012-10.The calculation should not factor in pass through payments paid for with RPTTF in Form D.
"""The outstanding debts for line items 1 and 2 are stricken as they ere under dispute with the Department of Finance;however,the Successor Agency reserves the right to pursue legal remedies,as necessary,and or provide additional documentation.
ATTACHMENT #2 , ,
RECOGNIZED OBLIGATION PAYMENT SCHEDULE-CONSOLIDATED
FILED FOR THE JULY 1,2012 to DECEMBER 31,2012 PERIOD
Name of Successor Agency The Redevelopment Agency of the City of Huntington Beach
Current
Total Outstanding Total Due
Debt or Obligation During Fiscal Year
Outstanding Debt or Obligation $ 117,669,749.00 $ 14,138,865.00
Total Due for q'ir Month
Period
6
Outstanding Debt or Obligation $ 5,747,947.00
Enforceable Obligations paid with RPTTF $ 6,580,631.00
Administrative-Cost paid with RPTTF $ 167,416.00
Administrative Allowance(greater of 3%of anticipated Funding from RPTTF or 250,000.Note:Calculation should not
include pass-through payments made with RPTTF. The RPTTF Administrative Cost figure above should not exceed this
include
Cost Allowance figure) $ 167,415.93
Certification of Oversight Board Chairman:
Pursuant to Section 34177(l)of the Health and Safety code,
I hereby certify that the above is a true and accurate Recognized Name Title
Enforceable Payment Schedule for the above named agency.
Signature Date
ROPS July 2012 thru Dec 2012—submitted on May 151h.xlsx
Name of Redevelopment Agency: The Redevelopment Agency of the City of Huntington Beach FORMA-Redevelopment Property Too Trust Fund(RPTTF) Page l of7
Project Area(,) Merged Project Area
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AS 28-Section 34177('I
Period Covered:July 1,2012 through December 31,2012
Contact/ Payable horn the Redevelopmenl Property Tox Trust Fund(RPTTF)
Agreement Total Due Peyments by Month
' Total Wot,ndhp During Fiscal ""Funding
Project Name Debt Obligation""' Execution Dole Payee De.a1p6on" Prolecl Area Debtor Obliallon Year11/12— Source July 2012 AUOZD12 S,p12012 Oct 2012 Nov 2012 Dec2012 2012Totals
Ywid CiN': -;j jj:9s+sh Leg+WbMGngOMr+Ovo-ASreem+Ma-for- Mari 7DIi 2Sl RRAF i
[4i
August-I-, aocicreb�nsel l0s' M-up 2f1.323 44TSU RATPF 4905-Y+rious- Cab MsrgeC i442;g24 "47i RRFIF. i
Opsrativa- �qp1 p Mari 2314832 B6;iei 1iP33F i
t:aMar-Ceaxtyrsbl.elpdp_ CWv Mahood f94A31- 22-%2 RRAF i
Wouph-1gg7 fili RpFF i
RadevekPrn+nl-Projada CNyaFMUMI Mahood
CNycFFWMinptoP$+xb Comm+ralel Dkirkt Mahout 434W WPM i
19 �o.S-ah �M—i<97Afi12 Mohoad 3780 RPiT1; i
W Gq-aµunllhMpsng+acp IPawc4Ral.aBia Mahood 2,7b2 RRAR
;g) CgyotlluMiapl°w8+a°h Maup '�".`.'. l4Yf RRAF i
Mahood —6a7NG`1• 26�44 RRTTF i
» Guy 66B RPTTF i
42)La.4-ehasadl0000mmersia4 6sinamber-7, mash Eeoally WndiOmeM4°r- Mahood 28332 1iP33F
44) iYBB-+ruL —o++sh Mahood 233r7R 1iP33F i
45) 4pp COyopdnemn-e++ch MohoW 4322:2oi RPFiF i
yg)and»eW�nuatdavalopra+rd GgoFNUMinglaa-Slash Mahood --Nr90;f2o 37i353 RRAF i
1, 4CWsFMuMMolo^'So+ch ��1g� Mohgod 422y1oi RPFF i
IS)Land Sale Emerald Cave May Ia,2009 COHB Paint A&O Fund Legally Binding Opa.W.Agreement
Principal Amount-$1.740,834,Interest
Rates 3.81%,Debt incurred on May 18.
moo Merged 5,468,098 RPTTF S
4g37 COHS w+tao-uuuq
4W Moread-0rojad M+ � Mahout RRAF i
COHSWriaWWW/ RPIIF i
�N .
24{OraMwgNnfwclnxtwsConNrvsllonfar- 4g87 C6H&BMna0e-Ulilgy 6a9aAY8NWNg GPahatWa-ABroennanF
Wa-Ma1nRMrJ+rsk> 3ALK-D+btlncurtsd.InaOBF M-up F i
22) SB;7. 4r cGHB-3o�alJugq
M+I-PIo;Phq-t 44W 1.1
48g0 Mauged 1iP33F i
234405-01
4084 COHB-ParkAL DFund
Aaqui.uwAP» assx-s.amwrwx�la9a M"°ad i
24)Ooansd-BavaleP+cFossSavwfF+o C + -WiIiM' Mahood 171.540 RPTTF i
251 CBFISOwm+peOWay
Moro" RPTTF i
Totals-ROPS RPTTF This Page $ 5,46a,09a i--o;3Oi,284 RPTTF $ - $ - S - S S S $
Totals-ROPS RPTTF Page 2 S 38,422,406 $ 4,182,585 RPTTF $ 972.531 $ 1,315,389 f 368.396 f f $ $ 2.856,298
Totals-ROPS RPTTF Page $ 21,070,390 $ 1.211,384 RPTTF $ 25,534 $ 25S34 S 655,513 $ 25,534 $ 25,534 $ 25,532 $ 983.181
Totals-ROPS RPTTF Page S 8,509.697 i52,72 RPTTF 9m 24,,08-10 53 SSf 160,,,5-a 0 $
f 21,2-8 5 Sf 1.3-2 0f -5 SS 2441'31960
364S1,693,M i f ,693 $
18
Tolels-ROPS RPTTF Pages S 45,419,122 RPTTF .364S 93,
Total.-ROPS RPTTF Page $ 612,620 $ 54, RPTTF S - 25Mf f S 2,5040
Total.-ROPS Admin Cost Allw Page 7 S 167,416 $ 167, ADMIN $ 03 27 27903S 27,903 S 27,93 27,9 $ 167.416
$
$
Toes-ROPS Pas Through Page B S - f - PASSTHRU -
Grand toal-All Page. $ 117,669.749 $ 14,136,86 7,947
The Preliminary Droll Recognleetl Obligation Payment Schedule(ROPE)1.to be canpleted by 3/112012 by the successor age my,and subsequ-fly be app,swd by the oversight board before the final BOPS is ndaniged to the State Controller and State DeparbmM of Finance by April
15 2012.It a not a roqulre...I that the Agreed Upon ProcetlureI Audit be canpleled bafae submining the final Oversight Approved ROBS to the Sate Controller and State Department of Finenee.
"Notwithstanding AS 1112s,these agreerrents are Included because among ogler reasons,they are wlidd d by operation of law prior to AS Wit.
CRy s fiseal year runs October i through September 30.
—Funding sources tra,grog-ccevsoragency:(Forfisc.i 2011-12 only,references to RPTTF could+Ise mean texinerement allocated to the Agency prior to Febmary 1,2012.)
RPTTF-RedevebpmeM Property Tax Trust Fund Bonds-Bentl proceeds Other-reserves,rend,Interest earnings,all
LMIHF-Low and Medaraa Income Housing Fund Admin-Successor Agency Adminlshative Allowance
"'The outstanding dew for Ilse Rems 1-17 and 1945 are stricken per the Deparhnent of Finance;however,the successor agency disputes this position and reserves the right to pursue legal remedies,as necessary.
Name of Redevelopment Agency: The Redevelopment Agency of the City of Huntington Beach FORM A-Redevelopment Property Tax Trust Fund(RPTTF) Page 2 of 7
Project Area(s) Merged Project Area
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AS 26-Section 34177(')
Period Covered:July 1,2012 through December 31,2012
Contract I Payable from the Redevelopment Property Tax Trust Fund(RPTTF)
Agreement Total Total Due Payments by Month
Outstanding Deb During Fiscal "'Funding
Project Name I Debt Obligation Execution Date Payee Description" Project Area or Obli ation Year 11/12"' •Source July 2012 Aug 2012 Sept 2012 Oct 2012 Nov 2012 Dec 2012 2012 Totals
1)Main-Pier Purchase Loan Repayment August 1,1994 Housing Authority Legally Binding and Enforceable Agreement
for Property Acquisition for the Main-Pier
Project Merged 1,362,500 RPTTF S
2)Hyaft Regency Huntington Beach Project September 14, Robert Mayer Corporation Disposition and Development Agreement
1998 -approved on September 14,1998 for the
Waterfront Development
Merged 5,803,061 736,522 RPTTF 367,896 $ 367,896
3)2002 Tax Allocation Refunding Bonds June 19,2002 Bank of New York Trust Co. Tax Allocation Bonds Debt Service
Payments Merged 17,964,850 1,635,738 RPTTF 1,315.369 $ 1,315,369
4)1999 Tax Allocation Refunding Bonds January 12, Bank of New York Trust Co. Tax Allocation Bonds Debt Service
1999 Payments Merged 8,221,038 748.088 RPTTF 599,044 $ 599,044
-5)2002 Tax Allocation Refunding Bonds June 19,2002 Arbitrage Compliance Specialist Tax Allocation Bonds arbitrage rebate
calculation-Federal IRS Compliance Merged 500 500 RPTTF 500 $ 500
6)1999 Tax Allocation Refunding Bonds January 12, Arbitrage Compliance Specialist Tax Allocation Bonds arbitrage rebate
1999 calculation-Federal IRS Compliance Merged 500 500 RPTTF $
7)2002 Tax Allocation Refunding Bonds June 19,2002 Internal Revenue Service 15th Year Arbitrage Rebate Payment
Merged 614,600 RPTTF $
8)2002 Tax Allocation Refunding Bonds June 19,2002 Bank of New York Mellon Tax Allocation Bonds-Payment to Fiscal
Agent Merged 1,537 1,537 RPTTF 1,537 $ 1,537
9)1999 Tax Allocation Refunding Bonds January 12, Bank of New York Mellon Tax Allocation Bonds-Payment to Fiscal
1999 Agent Merged- 848 848 RPTTF $ -
10)2002 Tax Allocation Refunding Bonds June 19,2002 AMBAC Bank of America Meeter Repurchase
Agreement for Debt Service Reserve Merged 3,000 3,000 RPTTF $
11)2002 Tax Allocation Refunding Bonds July 7,2001 Harrell S Company Advisors,LLC Preparation and filing of Continuing
Disclosure Annual Reports and Material
Event Notices Merged 250 250 RPTTF 250 $ 250
12)1999 Tax Allocation Refunding Bonds 'July 7,2009 Hanell S Company Advisors.LLC Preparation and fling of Continuing
Disclosure Annual Reports and Material
Event Notices Merged 1,525 1,525 RPTTF 1.525 $ 1,525
13)HUD Section 108 Infrastructure Loan for July 21,2010 Bank of New York Mellon Legally binding and enforceable loan
Hyatt/Hilton Properties agreement with the U.S.Department of
Housing and Urban Development for capital
improvements
Merged 3,804,470 410,3501 RPTTF 370,1751 $ 370,175
14)HELP Bowen Court April 3,2002 California Housing Finance Full payment of loan borrowed by Agency fo
Authority Senior Rental Complex from the State of
California
Merged 643,727 643,727 RPTTF $
$ 38,422,406 ; 4,162,585 RPTTF $ 972,531 $ 1,315,369 $ 366,396 $ $ $ - $ 2.656,296
The Preliminary Draft Recognized Obligation Payment Schedule(RODS)is to be completed by 311/2012 by the successor agency,and subsequently be approved by the oversight board before the final ROPS is submitted to the State Controller and State Department of Finance by
April 15,2012.It is not a requirement that the Agreed Upon Procedures Audit be completed before submitting the final Oversight Approved ROPE to the State Controller end State Department of Finanee.
"Notwithstanding AS ix26,these agreements are included because among other reasons,they are validated by operation of law prior to AS 1X26. -
"'The City's fiscal year runs October 1 through September 30.
""Funding sources from the successor agency:(For fiscal 2011-12 only,references to RPTTF could also mean tax increment allocated to the Agency prior to February 1,2012.)
RPTTF-Redevelopment Property Tax Trust Fund Bonds-Bond proceeds Other-reserves,rents,interest earnings,etc
LMIHF-Low and Moderate Income Housing Fund Admin-Successor Agency Administrative Allowance
Name of Redevelopment Agency: The Redevelopment Agency of the City of Huntington Beach FORM A-Redevelopment Property Tax Trust Fund(RPTTF) Page 3 of 7
Project Area(.) Merged Project Area
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AS 26-Section 341771•)
Period Covered:July 1,2012 through December 31,2012
Contract! Total Payable from the Redevelopment Property Tax Trust Fund(RPTTF)
Agreement Outstanding Total Due Paymen ts b Month
Debtor During Fiscal ""Funding y
Project Name I Debt Dbligation Execution Date Payee Description" Project Area Obii ation Year 11112— Source July 2012 Aug 2012 Sept 2012 Oct 2012 Nov 2012 Dec2012 2012Totals
1)Strand Hotel and Mixed-Use Project, June 1999 to CIM Group,LLC and Kane Property Tax Sharing Agreement under the
Parking a Infrastructure Implementing November 2008 Balimer and Berkman Disposition and Development Agreement
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.Legal
costs to protect DDA obligations,
Merged 14.005.126 665,403 RPTTF 685,403 $ 685.403
2)Strand Project Additional Parking January 20, CIM Group,LLC Property Tex Sharing Agreement under the
2009 Disposition and Development Agreement
(DDA)end Sixth Implementation Agreement
for the Strand projects parking shucture
authorized on January 20.2009.
Merged 1,088,861 49,576 RPTTF 49,578 3 49.578
3)Pacific City October 16, Maker Properties and Kane Owner Participation Agreement approved on
2006 Balimer and Berkman October 16,2006 for future development of a
31-acre site localed at Pacific Coast Highway
and First Street and financed by property lax
allocations.Legal services Incurred io
eliminate obligation.
Merged 5,520,000 20,000 RPTTF 20,000 S 20,000
4)Covenant Monitoring Obligations of January,1 2012 Housing Authority Statutory obligations for housing affordability,
Housing Authority production,reporting and compliance as per
Government Code.
Merged 306,403 308.405 1 RPTTF 25,534 25,534 25.534 - 25,534 25,534 25,532 S 153,202
5)Housing Authority Covenant monitoring July 19,2010 Keyser Marston Statutory obligation for Housing reporting,
per AB 987 auditing and compliance
Merged 150.000 150.000 RPTTF 75,000 $ 75,000
B) Bri®Ina4 KaasbaNmsFend'Bergaan
�X26 Agreement- wNaneaw0p-ABix26
eflec9ve-July
2gggJ-Amended
4g;2g1i
M-111" --13g-00g —16g;gn RPTTF —80-;09g t----Bg:ggg
7) Dewmber-20. indep
somppenseaudil. 2040
Auditin9-Standards-fSA9)-No.1177-
"GempliansaJludiC
Mwgad19.125 Q RPTTF i
6)Sd JWy49;2O7g K@yG6F Marston 6.0-y-1in,1
7,K2S
SutussanAgenq'
Merged RRFFF i--a7�gg
S 21,070,390 $ 1,211,384 RPTTF 3 25,534 S 25,5J4 $855,513 $ 25,534 $ 25,534 $ 25,532 $ 983,181
The Preliminary Draft Recognized Obligation Payment Schedule(ROPE)Is to be completed by 3/1/2012 by the successor agency,and subsequently be approved by the oversight board before the final ROPS IS submitted to the State Controller and State Departmentof
Finance by April 15,2012.It Is not a requirement that the Agreed Upon Procedures Audit be completed before submitting the Mal Oversight Approved ROPS to the State Controller and State Departmentof Finance.
"Notwithstanding AS 1%26,these agreements are Included because among other reasons,they are validated by operation of law prior to AS 1%26.
—The City's fiscal year runs October 1 through September 30.
'Funding sources from the successor agenty:(For fiscal 2011-12 only,references to RPTTF could also mean tax Increment allocated to the Agency prior to February 1,2012.)
RPTTF-Redevelopment Property Tax Trust Fund Bonds-Bond proceeds Other-reserves,rents,Interest earnings,ate
LMIHF-Low and Moderate Income Housing Fund Admin-Successor Agency Administrative Allowance
""'The outstanding debts for line Items 6,7,and It are stricken as they are under dispute with the Department of Finance;however,the Successor Agency reserves the right to pursue legal remedies,as necessary,and or provide additional documentation.
Name d.-.—Pt Agenry TM Ra IBBmenl Agenry al ba CW of Hudingbn Beacb FORMA-Rd4B IBpm B Prap.ny Tan Tm+t Fund(RPTTF) Pageaal)
pnjeM gr<a(a) Merged Pnjecl Area
RECOONREO OELIOATION PAYMENT 6CNEOUIE
Par AR b-6aNbn Ytn(•1
repgI,o.e.mb.r a,b1.
re Tvlel Oue Ounrq PAIMbId Rem Ih.A.dN IBpmanl Prap.My Tan Trual Fund(RPTTF)
BIBB.. M OWalandr F Pa
11112 '^'FlnMirg YmeMa W.BM,
Ra)eG N.me/Oabl Odlgallan EvecNhn Oele Payee Oeacrlpllon'• PlvjeGArea Oed TOM B1Odi lien Source 10,2012 Aug 2012 Sep13012 Ckt2012 Nov 2012 Oec2012 2012 Table
I
Ayamade Ha—W Cempimrce pusrnM d lM Orlpinei nruliervl Mary adlga8an ter"'N eampNerce
rerMlremeMa nl Seelian 33a13(b)(1)eM Agne ea Wnuam to the requremen sal Secllon
aN(.)R1 end(3).1 Its CeBldme roe JWy2C 33a13(b)1a1.M33aev(e1Rl and P)NIM
=Rdy Redevebpmeld Lew,Heats aM SNeN]10/AmeMed Celgarrve
Cade Section 3300g et seq.Covenenl menualIN an JuN 26,2011 Cammunlly Rehvelopnem I*"I HeaII and
per AS W. SIR,Code Sedun 33000,et avq.
M<rge0 ]5.000 ]5.000 RPTTF 3],500 5 3).500
gpamada HeuMnp Camp'larce punwnl la lM p191nN ro13.11—rsne f3erNmen .h R,ad91"Mr bgal,compliance antl
requbemen yr 9eG 3e13(b)(01aM Agreement epenllam dHeuseq AMMary punueN le lM
334B0(e)(211M(3)d Its CelileMs efleclive July 6, requrtemenled Section 33e13(b1(eIBM
Cammunity Re 11k, enl Law,H 111,aM Salety 2009IA MId 33490(BM IM(3)oI Its C.Ill.,...Cammunity
Cade SeN 3—,el.Bed.Co .rtgnlI an Sepiember RMev'.—M Lew,H.01 M S.kty Cade
per AS 111, 19,2011 ecllen 3300v,el eeq.
1111 150,B09 150,000 RPTTF mom d 754000
3)Repeymenl NSERAF Oebl OdlBellan 2009 M.ylll 2010 H..1,AW ty LepalN enleleeade ad90 forSERAFLB-
rtpaynRM Merged 3.22]]06 RMF 3 -
41RepaymeM el SERAF Dad Odpallan 2010 May V..11 aualrq AMMdty LegelN enbmeeda adpalivn tar A—teen
repsymenl M g14 790,000 RPTTF S
51 Ab11--1 Pedklpalbn Agraerrc ld "Y"4 I'll
A-1-1 DevNepmem CempaW Owner Padklp`i A9
7—M rtleM OTerankal
O.IIIllal A9reemeM II
November Ag1.e appnvn0 an May 2B.19911.,Its
21,IV94 evelapmeN M its INee lldry b1i"N a11M
ImdemeRNla
eM leake t-Na a 21,1B9d
Merged 15,213 15,213 RPTTF 1,000 1,000 1,Oo0 1,000 1000 1,000 5 6,000
6) l a ..n uwnA'
.Ad6.hlyC.tl.BaslhnggaB) Merged EB,ei);E66 gRTTF
])Cw .en.--.mr ARB-Ne MNhg Orlgirni ca Je,Eaq Mheary adlpelen tar kgal rompierce eM
prdem.IariM purpose el ncreealnp.ImpmvinB. Agream apereuarn al A.—M AW ty III—le lha
antl Re.emirg M CI1ys suppN of bw ens meder.l nb d S.c 33d l3(b1()eM
uslrp praswM b lee regal,m el November I., 33g90"I")."(3)eI Its Ceilfamis Comrundy
Sedvin33dt3(b)()antl 334%(,1)()IM(3)of the CIAmcMId Rede 8pment Lew,Helh eM SNety Ceae
CNllamlaC fty Re ebpmenl Lew,HedN en September Iwo 33W0.et Beq.
M Sel<ry Cade SMbn 33000,eL seq. 19,2011 ,
M,Bd 5,736 8,]36 RPTfF 6 -
B)Covernnl<nlamemeM hr MaNahia Mualnp r.1,26,2012 J Bka Lalhem,Eaq SIalWory adlBatian hr kBal ca oB..ant
p,aMjecls IerIts purposedIncreasirp,Impmvlrq, __dens e1 H'uaing A .ty pu MN la Its
pe."me CirY..uppN N ivwandmMeM requlnmem a 5e 33a13(b)(d)ar
ausi Ru t d ItsregWremeM.of 33490(,)12)end(3)v11M CNlhmle Community
Seclbn 33e13(b)(4)BM 33dN(a)(2)antl(31 al thl RMevelapmenl Lew,Heallh.M 10yCede
Cakbmla Commlney RedI v Id met Lew.Heats lien J3000,et eeq.
sNaty CMe Sac 33000,It.eeq.
Merged 30.000 30,000 RPTTF S,0o0 S.OBO 5,000 9 15.000
91 UMundedC PERS Pe 1N LIBI:R1e. As a19f30111 .FERS UNUMea CMPERS pension oblBWR.as pet
CNPERS e1,s0.1 vehedon vs el June 30,2.10,
M BMI 3,151 73,524 RPTTF B,1Z) 6,12) N,508 d
1u)Unf,,Mld Swdemerdal RBblemenl Ue tm. .al 9l 11 Berk UNUMetl.cNarlel eccmea lieMdy eats
September 30,2011 as per agNariel utluatlon W
AON CansWling,Irc.
it,.d! 400.000 16.816 RPTfF 1.5% 1,588 6.272 5 9.1.
11)R Agenry Regremenl By...$(PARS)Nle. Aa d 91 11 dic LOe hM Legally emameade rellremeM adigakan tar eBIN
Payable relir<meN lncemWe program ant ennully Pa luelged do,- 19965 RPTTF 19.965 S 19.9B5
121L1nBnaedOPERLndlHieePAG I5RS ERBT UrvuMea aG 1B1.cc MlI.Il ae el Juna 3O
2011 ae per AON CanaWtirq,lrc. Me d! 160.000 3... R—F 3. 320 1,260 320 3" 320 d 2.880
11)Obligelion tar unuaea employee General Leave .1,mplvyee.lrecgyI——In Heu.in I. I.Redevelopment prajecb ant med. vesletl ea per III—antl AS 1X2B Me d 12g391 a1,1)8 RPTTF1919uc 1-1 Agenry.8-1 ee Ne ..andA i,IeleB +el enamel eN cenrv6anl MerBe0 15.000 15,000 RPTfF 5.000 5.000 3,000 9 1J,000swr Agenry COm B.a px HES Code T rm WeN nnelaM Raal eslala carnMan33y33Marg.tl 30.000 J0.00I RP 5,OM 5000 5.000 1q,6T5 S 29 LWa OameY Legally enlarceade Nillvn relmbvnemenl MnePo
d J"IM.Ml, th W1,;Wgantl a+per MOV ant PBt%26
16) Merged 1,500 I,tim R_-lda Pnlimin.ry On0.Recegnlied O811ga0en Payment BeM1edul.(ROPSl is tv ba camplNad by L11M126y Ma euttaesar.pancy,and.ubwquanny ba approved by Ma 5a uanipeh,t5 b0B.,.6r9tl]balSe r.Ma R5n2tl2]0.)O2P e la.RuPeTmTiFb ad la 5l M1.ebb C19..11
l brd a nd Ebb 14.015
r im9a nt of 1F6lna,nc0.by9 Aprl116,M121t la net.rquln menl th1at
b. ,1-
90
All—UponM1 duns AWN id eemplNM bN f .Rting Ma0na1 Ovareighl Approved RO P81v Iba 8M.C9nbeyx and-1.O.p.—..t 9f Ft...
N atwib+bndlngAB1%2..........Bd.t.M.I—dad baeu...mang NM1.r rosan.,th.y.1.v.BdBa by epab N Id.pder19 AE 1Mb.
.Cl1ya d.eiyearrun.o"t I b Id.gh eepbm all.
—Funding aBu..A lrvm Ma eucca+aar Bganey:(For Mctl b11-12 only,rxamnen le RP]TF rould Wv rmm bA incrarmnt tlbeNW b M.Agme pder b F.brvary 1,b121
RPTTF-R.d.utlapm.nt Prap.M T.Trust Funtl Bands-yond prac.eae OIM!-nearv.a,r.nh,Inbr..t e.mings,Nc
slop Pu —AdminblM Abavnne.
assumaa na llWllity.
^Tula aubbnding debt 1.aBl..npxmeO.p.Nn.nlol Fin.nce lnatruNan:bowavx,Maauu.aaor ap.n Y
Name of Redevelopment Agency: The Redevelopment Agency of the City of Huntington Beach FORM A-Redevelopment Property Tax Trust Fund(RPTTF) Page 5 of 7
Project Areas) Merged Project Area
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26-Section 34177(')
Period Covered:July t,2012 through December 31,2012
Contract/ Total Payable from the Redevelopment Property Tax Trust Fund(RPTTF)
Agreement Outstanding Total Due During Payments by month
Debtor Fiscal Year "'Funding
Project Name/Debt Obligation Execution Data Payee Description" Project Area Obligation 11/12'•' Source July 2012 Fug 2012 Sept 2012 Oct 2012 Nov 2012 Dec 2012 2012 Totals
1)Emerald Cove 2010 Series A Lease Revenue May 13,2010 US Bank Emerald Cove 2010 Series A Lease
Refunding Bonds Revenue Refunding Bonds Debt Service
Payments
Merged 4,054,198 404,564 RPTTF 404,564 S 404,564
2)Bella Terra Parking Infrastructure Property Tax October 2,2000 Bella Terra Associates LLC and Property Tax Sharing Agreement required
Sharing Agreement and September Kane Balimer and Berkman under the terms of the Omer Participation
17,2007 Agreement(dated I0/2/2000)and Second
Implementation Agreement(dated
9/17/2007)for the development of the
Huntington Center(Bella Terra).Includes
legal requirements to enforce obligation.
Merged 13,924,894 1,277,600 RPTTF 1,277,600 S 1,277,600
3)Bella Terra Phase 11 October 4,2010 BTDJM Phase it Associates(DJM)Affordable Housing Agreement approved on
and Kane Balimer and Berkman October 4,2010 for construction of a 467
mixed-use unit project.Project is currently
under construction and financed by property
tax allocations.includes legal requirements
to implement obligation.
Merged 27,436,030 7,200 RPTTF 7,200 t 7,200
Omer Participation Agreement(OPA)
approved on July 6,2009 for the continued
redevelopment of the site located at 300
Pacific Coast Highway in Downtown
Huntington Beach.Legal services were
Pierside Pavillion,LLC and Kane incurred to amend the legally obligated
4j Pierside Pavillion Owner Participation Agreemen July 6,2009 Balimer and Berkman OPA. Merged 4,000 4,000 RPTTF 4,000 t 4,000
$45,419,112 $ 1,693,364 RPTTF $ a $ 1,693,364 $ $ $ $ 1,693,364
The Preliminary Draft Recognized Obligation Payment Schedule(ROPS)is to be completed by 3/1/2012 by the successor agency,and subsequently be approved by the oversight board before the final RDPS is submitted to the State Controller and State Department of Finance by April
i6,2012.It is not a requirement that the Agreed Upon Procedures Audi be completed before submitting the final Oversight Approved RDPS to the State Controilerand State Deparmhent of Finance.
'•Notwithstanding AS t X26,these agreements are included because among other reasons,they are validated by operation of law prior to AB IX26.
'•'The City's fiscal year runs October t through September 30.
*Funding sources from the successor agency:(For fiscal 2011.12 only,references to RPTTF could also mean tax increment allocated to the Agency prior to February t,2012.)
RPTTF-Redevelopment Property Tax Trust Fund Bonds-Bond proceeds Other-reserves,rents,interest earnings,etc
LMIHF-Low and Moderate Income Housing Fund Admin-Successor Agency Administrative Allowance
Name of Redevelopment Agency: The Redevelopment Agency of the City of Huntington Beach FORMA-Redevelopment Property Tax Trust Fund(RPTTF) Page 6 of 7
Project Area(s) Southeast Coastal Project Area
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26-Section W77(•)
Period Covered:July 1,2012 through December 3t,2012'
Contract/ Payable from the Redevelopment Property Tax Trust Fund(RPTTF)
Total Due
Agreement Payments by Month
Total Outstanding During Fiscal —Funding
Project Name/Debt Obligation Execution Date Payee Description" Project Area Debt or Obligation Year 11112— Source July 2012 Aug 2012 Sept 2012 Oct 2012 Nev 2012 Dec 2012 2012 Totals
1)Widifa Care Center November 15, City of Huntington Beach Advance from City on onshuction of Southeast
2004 Conservancy Grant funded block wall and Coastal 344,816 27,641 RPTTF j
2)Operative Agreement for the Huntington Beach Redevelopment Fiscal Year City of Huntington Beech Loan repayment for advance made on Southeast
Project 2004/05 capital projects in FY 2004105 Coastel 262.804 21,219 RPTTF y
3) HWsla®.AyWorjly
�A�4g7= 149afth and Safety Go As Gooliax.4141487 Southeast
Coastal RRF7F S
]Assesorm-It for AES Property Tax Valuation March 21,2011 Van Hom Consulting Assessment for AES Property Taz
Valuation
Southeast
Coastal 5,000 5,000 RPTTF 2,500 $ 2,500
S 812,620 i 54,060 RPTTF 6 S i 2,500 $ S i i 2,500
The Preliminary Draft Recognized Obligation Payment Schedule(ROPS)Is to be completed by 3/f/2012 by the successor agency,and subsequently be approved by the oversight board before the final BOPS Is submitted to the State controller and State Departmentof Finance by Aprll 15,2012.It Is
not a requirement that the Agreed Upon Procedures Audit be completed before submitting the final Oversight Approved ROPS to the State Controller and State Department of Finance.
—Notwithstanding AB 1X26,these agreements are included because among other reasons,they are validated by operation of law prior to AB iX26.
—The City',fiscal year runs October 1 through September 30.
--Funding sources from the successor agency:(For fiscal 2011-12 only,references to RPTTF could also mean tax Increment allocated to the Agency prior to February 1,2012.)
RPTTF-Redevelopment Property Tax Trust Fund Bonds-Bond proceeds Other-reserves,rents,Interest earnings,etc
LMIHF-Low end Moderate Income Housing Fund Admin-Successor Agency Adminlstrative Allowance
•""Thls outstanding debt Is stricken per the Department of Finance Instruction:however,the successor agency assumes no liability.
Name of Redevelopment Agency: The Redevelopment Agency of the City of Huntington Beach FORM C-Administrative Cost Allowance Paid With
Redevelopment Property Tax Trust Fund(RPTTF) Page 7 of 7
Project Area(.) Merged Project Area and Southeast Coastal Project Area
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Par AB 26-Section 34177(')
Period Covered:July 1,2012 through December 31,2012
Contract/ Total Payable from the Administrative Allowance Allocations"•••
Agreement Outstanding Total Due During Payments by month
Debt or Fiscal Year ""Funding
Project Name/Debt Obligation"" Execution Date Payee Description" Project Area Obligation 11112•" Source July 2012 Aug 2012 Sept 2012 Oct 2012 Nov 2012 1 Dec 2012 2012 Totals
July-lhwu®M £uatassar,o„ganeyagrni
9esemee12012 .
Agawanse _ able and other a
. asiegairedby-AB-1X26
Merged --::o� =1g,40 Admin �°8' �°P' 2:224 -:�25 4:.'.26 =,3.325per AB 1 X26 f 2i4,6N
lanuaq�rreagh SussessecAgerwy
June2Q12miall"If to
assequkedbyAli 1 X26
SoutheasE-
6eastal Admin 7..1
2,602
3)Enforcement of Successor Agency compliance January through Successor Agency,Kane Ballmer, Successor Agency administrative obligationand monitoring per AB 1X26'•"'• June 2012 KeyserMarston,and Macias Girl retail if to maintaining payments on
&O'Connell LLP enforceable obligations and other activities
as required by AB 1X26 Merged&
Southeast
Coastal 1671416 167,416 Admin 27,903 27,903 27,903 27,903 27,90367,416,
$ 167,416 $ 167,416 Admin $ 27.903 $ 27,903 $ 27,903 f 27,903 $ 27.903 f 27,901 $ 167,418
The Preliminary Draft Recognized Obligation Payment Schedule(ROPS)is to be completed by 3/112012 by the successor agency,and subsequently be approved by the oversight board before the final ROPS is submitted to the State Controller and State Department of Finance by Apri6,2012.It is not a requirement that the Agreed Upon Procedures Audit be completed before submitting the final Oversight Approved ROPS to the State Controller and State Department of Finance.
Notwithstanding AB 1X26,these agreements are Included because among other reasons,they are validated by operation of law prior to AB 1X26.
The City s fiscal year runs October 1 through September 30.
*Funding sources from the successor agency:(For fiscal 2011-12 only,references to RPTTF could also mean tax increment allocated to the Agency prior to February 1,2012.)
RPTTF-Redevelopment Property Tax Trust Fund Bonds-Bond proceeds Other-reserves,rents,interest earnings,etc
LMIHF-Low and Moderate Income Housing Fund Admin-Successor Agency Administrative Allowance
••••.Administrative Cost Allowance caps are bye of Form A 6-month totals in 2011-12 and 3%of Form A 6-month totals in 2012-13.The calculation should not factor In pass through payments paid for with RPTTF in Form D.