HomeMy WebLinkAboutDue Diligence Review of the Non-Housing Redevelopment Funds AGENDA REPORT
Oversight Board of the Huntington Beach Successor Agency
to the Redevelopment Agency
MEETING DATE: January 15, 2013
SUBJECT/ACTION: Approval of the Due Diligence Review of the Non-Housing
Redevelopment Funds
RECOMMENDED ACTION: Motion to:
Adopt "A Resolution of the Oversight Board to the Successor Agency to the
Redevelopment Agency of the City of Huntington Beach approving and authorizing the
transmittal of the Due Diligence review of Successor Agency Funds and Accounts other
than the low and moderate Income Housing Fund."
BACKGROUND:
Assembly Bill 1484 (AB 1484) calls for the Oversight Board to review, approve, and
transmit to the Department of Finance (Department) and the County Auditor-Controller
the determination of cash available for disbursement to taxing entities from the
dissolved Huntington Beach Redevelopment Agency's (Agency) non-housing funds,
which, in Huntington Beach's case, is zero. This determination is made based on a due
diligence review conducted by a licensed accountant. The Oversight Board held a
required public comment session on the due diligence review at a special meeting held
on January 8, 2013, and received no comments from the public.
The attached Independent Accountant's Report on Applying the Agreed-Upon
Procedures on the Successor Agency to the dissolved Huntington Beach
Redevelopment Agency (Report) presents the results of this review. The Report found
there were no unobligated fund balances in the Non-Housing Redevelopment Funds for
remittance to the County Auditor-Controller because all Non-Housing Redevelopment
Funds are either legally restricted or needed to satisfy current obligations. The Report
was provided to the Oversight Board on January 8, 2013.
ANALYSIS:
On June 27, 2012, the governor signed AB 1484 modifying provisions of the Dissolution
Act and imposing new requirements on successor agencies. Section 34177(d) of the
Health and Safety Code requires successor agencies to remit unobligated balances of
redevelopment agency funds, including the unobligated balance of the Housing Fund, to
the County Auditor-Controller for distribution to the taxing entities. Section 34179.5 to
the Health and Safety Code requires successor agencies to hire a licensed accountant,
Oversight Board Meeting
January 15, 2013
Page 2 of 3
approved by the County Auditor-Controller and with experience and expertise in local
government accounting to conduct two reviews a noted below to determine the
unobligated balances available for transfer to taxing entities. The accounting firm
Vavrinek, Trine, Day & Co., LLP (VTD) was retained by the City and approved by the
County of Orange to perform the required due diligence reviews.
Two reviews are required to be performed; one for the Housing Redevelopment Funds,
and one for Non-Housing Redevelopment Funds. This report is related to the Non-
Housing Redevelopment Funds review. The review has been completed and
submitted. The due diligence review on the Housing Redevelopment funds was
approved by the Oversight board at its meeting held on November 16, 2012 as required
by State law.
Section 34179.5 of the Health and Safety Code identifies the general requirements of
the due diligence reviews. After its review of the law, the Governmental Accounting and
Auditing Committee of the California Society of Certified Public Accountants developed
Agreed-Upon Procedures to satisfy these requirements with input from the State
Controller's Office and the Department. The procedures include identifying assets
transferred to the Successor Agency, the City, other public agencies or private parties;
identifying assets remaining; and calculating the remaining balance available. The firm
followed these procedures in determining there are no Non-Housing Redevelopment
Funds of the dissolved Agency to be distributed to the taxing entities.
As of September 30, 2012, the Successor Agency had Non-Housing funds totaling
$30,087,087. The Report found all of the funds are needed to satisfy obligations of the
Successor Agency as follows:
Total amount of assets held by the Successor Agency as of September $30,087,087
30, 2012
Less assets legally restricted for uses specified by debt (2,422,613)
Less assets that are not cash or cash equivalents (e.g., physical assets) (21,170,451)
Less balances that are legally restricted for the funding of an enforceable (6,494,023)
obligation (net of project annual revenues available to fund those
obligations)
Amount to be remitted to County for disbursement to taxing entities $0
As required by Section 34179.6 of the Health and Safety Code, on December 15, 2102,
staff submitted the due diligence review for the Non-Housing Redevelopment Funds to:
the Oversight Board, the State Controller, the Department, and the County Auditor-
Controller. By January 15, 2013, the Oversight Board is required to review, approve,
and transmit to the Department and the County Auditor-Controller the determination of
the amount of cash that is available for disbursement from the Non-Housing
Redevelopment Funds. As confirmed in Exhibit C-5 of the Report, there is no cash
available for disbursement.
Oversight Board Meeting
January 15, 2013
Page 3 of 3
The Oversight Board was required to convene a public comment session on the review
and did so no January 8, 2013 and received no comments from the public. Today's
Oversight Board meeting is for the purpose of requesting the Oversight Board's
approval of the review of the transmittal to the required parties. The Department shall
complete its review of the determination of cash available. The Successor Agency may
request to meet and confer with the Department to resolve any disputes regarding the
Department's review within five business days of the Department's decision.
ATTACHMENT:
1. Resolution
2. Independent Accountant's Report (Due Diligence Review of Non-Housing
Redevelopment Funds)
ATTACHMENT
# 1
RESOLUTION NO. 2013-05
A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY
TO THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
APPROVING AND AUTHORIZING THE TRANSMITTAL OF ' THE DUE
DILIGENCE REVIEW OF SUCCESSOR AGENCY FUNDS AND ACCOUNTS
OTHER THAN THE LOW AND MODERATE INCOME HOUSING FUND
WHEREAS, pursuant to Health and Safety Code Section 34175(b) and the
California Supreme Court's decision in California Redevelopment Association, et al. v.
Ana Matosantos, et al. (53 CalAth 231(2011)), on February 1, 2012, all assets, properties,
contracts, leases, books and records, buildings, and equipment of the former
Redevelopment Agency of the City of Huntington Beach transferred to the control of the
Successor Agency to the Redevelopment Agency of the City of Huntington Beach (the
"Successor Agency")by operation of law; and
Health and Safety Code Section 34179.5(a) requires the Successor Agency to
employ a licensed accountant, approved by the County Auditor-Controller and with
experience and expertise in local government accounting, to conduct separate due
diligence reviews for the Low and Moderate Income Housing Fund and for all other
funds and accounts combined, in order to determine the unobligated balances available
for transfer to taxing entities; and
The Successor Agency, with the approval of the Orange County Auditor-
Controller, contracted with Vavrinek, Trine, Day and Co., LLP to perform the due
diligence reviews; and
The due diligence review of the Low and Moderate Income Housing Fund was
approved by the Oversight Board on November 16, 2012 and the due diligence review for
the other funds and accounts of the Successor Agency ("Due Diligence Review") has
since been completed; and
Pursuant to Health and Safety Code Section 34179.6(b), upon receipt of the Due
Diligence Review, and at least five business days before the Oversight Board considers
the approval of the Due Diligence Review, the Oversight Board must hold a public
comment session (the "Public Comment Session") at which time the public has an
opportunity to hear and be heard on the results of the Due Diligence Review; and
The Oversight Board must consider the opinions, if any, offered by the County
Auditor-Controller on the results of the Due Diligence Review; and
On January 8, 2013, the Oversight Board held the Public Comment Session
pursuant to Health and Safety Code Section 34179.6(b) and has considered the opinions,
if any, offered by the County Auditor-Controller on the results of the Due Diligence
Review; and
12-3561.001/89565 1
Oversight Board Resolution No. 2013-05
Pursuant to Health and Safety Code Section 34179.6(c), the Oversight Board must
review, approve and transmit to the State Department of Finance and the County Auditor-
Controller, the determination of the amount of cash and cash equivalents in the funds and
accounts of the Successor Agency, other than the Low and Moderate Income Housing
Fund, available for disbursement to taxing entities as determined according to the method
provided in Section 34179.5. Health and Safety Code Section 34179.6(c) provides that
the Oversight Board may adjust any amount provided in the Due Diligence Review to
reflect additional information and analysis; and
The Oversight Board now desires to approve the Due Diligence Review that is
attached to this Resolution and authorize its transmittal; and
The Oversight Board may direct staff of the Successor Agency to perform work in
furtherance of the Oversight Board's duties and responsibilities; and
All other legal prerequisites to the adoption of this Resolution have occurred.
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 has received and heard all oral and written
objections to the Due Diligence Review and the determination of the amount of cash and
cash equivalents in the funds and accounts of the Successor Agency, other than the Low
and Moderate Income Housing Fund, available for disbursement to taxing entities and all
such oral and written objections are hereby overruled.
3. The Oversight Board hereby approves the Due Diligence Review.
4. Based upon the Due Diligence Review, the Oversight Board hereby
determines that the amount of the cash and cash equivalents in the funds and accounts of
the Successor Agency other than the Low and Moderate Income Housing Fund that is
available for distribution to the taxing agencies is zero.
5. The staff of the Successor Agency is hereby directed to transmit to the
State Department of Finance and the County Auditor-Controller on behalf of the
Oversight Board written notice and information regarding the actions taken by this
Resolution and specifically the determination of the amount of cash and cash equivalents
in the funds and accounts of the Successor Agency other than the Low and Moderate
Income Housing Fund that are available for distribution to taxing entities as determined
by the Due Diligence Review. Such notice to the State Department of Finance shall be
provided by electronic means and in a manner of the Department's choosing.
12-3561.001/89565 2
Oversight Board Resolution No. 2013-05
6. The staff of the Successor Agency is hereby authorized to execute and
record such documents and instruments and to do any and all other things which they
may deem necessary or advisable to effectuate this Resolution and any such actions
previously taken are hereby ratified.
7. 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.
8. This Resolution shall take effect upon the date of its adoption.
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 A-��4'�—day of , 2013.
Chairperson
REVIEWED AND APPROVED: 1NITIAT AND APPROVED:
Ilk
�e uti e Director Deputy Executive Director
APPROVED AS TO FORM:
Board CouLsel
12-3561.001/89565 3
Res. No. 2013-05
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF HUNTINGTON BEACH )
I
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 Redevelopment Agency at a meeting held on January 15, 2013 and that it was so adopted
by the following vote:
AYES: Board Members: Boardman, Bone, A. Dunn, L. Dunn, Carchio, Fritzal
NOES: Board Members: None
ABSENT: Board Members: Delgado
ABSTAIN: Board Members: None
�1
Secretary of the Huntington Beach Oversight
Board of the Successor Agency of the Former
City of Huntington Beach Redevelopment
Agency Huntington Beach, California
ATTACHMENT #2
City of Huntington Beach
Redevelopment Successor Agency
Independent Accountants' Report on Applying
Agreed-Upon Procedures pursuant to
AB 1484 (All Other Funds)
September 30,2012
IrWrll-
Vavrinek, Trine, Day& Co., LL =
Certified Public Accountants
INDEPENDENT ACCOUNTANTS' REPORT ON
APPLYING AGREED-UPON PROCEDURES
Oversight Board of the
City of Huntington Beach Redevelopment Successor Agency
Huntington Beach, California
We have performed the Agreed-Upon Procedures enumerated in Exhibit A, which were agreed to by the
California State Controller's Office,the California Department of Finance,the County Auditor-Controller,and the
City of Huntington Beach Redevelopment Successor Agency (Successor Agency) to determine the Successor
Agency's Redevelopment Funds, ("All Other Funds")unobligated balances that are available for transfer to taxing
entities, solely to assist you in ensuring that the Successor Agency is complying with its statutory requirements
with respect to Health and Safety Code Section 34179.5. Management of the Successor Agency is responsible for
the accounting records pertaining to statutory compliance pursuant to Health and Safety Code Section 34179.5.
This Agreed-Upon Procedures engagement was conducted in accordance with attestation standards established by
the American Institute of Certified Public Accountants. The sufficiency of these procedures is solely the
responsibility of those parties specified in the report. Consequently, we make no representation regarding the
sufficiency of the procedures described below either for the purpose for which this report has been requested or
for any other purpose.
Exhibit A,Exhibit B and Exhibits C through C-S identify the procedures and findings.
We were not engaged to and did not conduct an audit, the objective of which would be the expression of an
opinion as to the appropriateness of the results summarized in Exhibit A, Exhibit B, and Exhibits C through C-5.
Accordingly, we do not express such an opinion. Had we performed additional procedures, other matters might
have come to our attention that would have been reported to you.
This report is intended solely for the information and use of the Successor Agency Oversight Board, the
Successor Agency, the California State Controller's Office, the California Department of Finance, and the County
Auditor-Controller, and is not intended to be and should not be used by anyone other than these specified parties.
This restriction is note intended to limit distribution of this report, which is a matter of public record.
Laguna Hills,California,
January 14,2013
1
25231 Paseo De Alicia,Suite 100 Laguna Hills,CA 92653 Tel:949.768.0833 Fax:949.768.8408 www.vtdcpa.com
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EXHIBIT A
CITY OF HUNTINGTON BEACH REDEVELOPMENT SUCCESSOR AGENCY
AGREED UPON PROCEDURES
PURSUANT TO AB 1484-ALL OTHER FUNDS
Our findings and procedures are as follows:
A. All other funds of the Successor Agency
For the Successor Agency Funds (excluding the Low and Moderate Income Housing Fund),the following.
procedures were performed:
1. Obtain from the Successor Agency a listing of all assets that were transferred from the former
redevelopment agency to the Successor Agency on February 1,2012. Agree the amounts on this listing to
account balances established in the accounting records of the Successor Agency. Identify in the Agreed-
Upon Procedures (AUP) report the amount of the assets transferred to the Successor Agency as of that
date.
Findings — We obtained from the Successor Agency a listing of all assets that were transferred
from the former redevelopment agency (RDA) to the Successor Agency's Redevelopment Funds
on February 1,2012. We agreed the amounts on this listing to account balances established in the
accounting records of the Successor Agency noting the total balance of all assets that were
transferred to the Successor Agency on February 1, 2012, was $12,246,191.80 and consisted of
cash and cash equivalents,cash with fiscal agent, and loans receivables.
Additionally, we noted that capital assets in the form of real property were transferred on
September 30, 2012, in the amount of $6,988,462 consisting of land held for resale totaling
$5,978,103 and three parcels of land totaling$1,010,359 from the former Redevelopment Agency
to the Successor Agency Redevelopment Funds.
Lastly, we noted that land in the amount of$14,023,000 was transferred from the City to the
Successor Agency on September 30,2012.
Assets Transferred to the Successor Agency
Transferred February 1,2012
Cash $ 9,042,788.18
Cash with fiscal agent 3,039,272.81
Loans receivable 164,130.81
$ 12,246,191.80
Transferred September 30,2012
Land $ 15,033,359.00
Land held for resale 5,978,103.00
$ 21,011,462.00
Total assets transferred
to the Successor Agency $ 33,257,653.80
2
EXHIBIT A
CITY OF HUNTINGTON BEACH REDEVELOPMENT SUCCESSOR AGENCY
AGREED UPON PROCEDURES
PURSUANT TO AB 1484-ALL OTHER FUNDS
2. If the State Controller's Office has completed its review of transfers required under both Sections 34167.5
and 34178.8 and issued its report regarding such review, attach a copy of that report as an exhibit to the
AUP report. If this has not yet occurred,perform the following procedures.
A. Obtain a listing prepared by the Successor Agency of transfers (excluding payments for goods and
services) from the former redevelopment agency to the city, county, or city and county that formed
the redevelopment agency for the period from January 1, 2011 through January 31, 2012. For each
transfer, the Successor Agency should describe the purpose of the transfer and describe in what sense
the transfer was required by one of the Agency's enforceable obligations or other legal requirements.
Provide this listing as an attachment to the AUP report.
B. Obtain a listing prepared by the Successor Agency of transfers (excluding payments for goods and
services) from the Successor Agency to the city, county, or city and county that formed the
redevelopment agency for the period from February 1, 2012 through September 30, 2012. For each
transfer, the Successor Agency should describe the purpose of the transfer and describe in what sense
the transfer was required by one of the Agency's enforceable obligations or other legal requirements.
Provide this listing as an attachment to the AUP report.
C. For each transfer, obtain the legal document that formed the basis for the enforceable obligation that
required any transfer. Note in.the AUP report the absence of any such legal document or the absence
of language in the document that required the transfer.
Findings — The Successor Agency noted that the State Controller's Office has not completed a
review of transfers required under both Health and Safety Code (HSC) Sections 34167.5 and
34178.8. The Successor Agency also asserted that transfers were made from the former RDA to
the City in the amount of$18,840,952 during the period of January 1, 2011 to January 31, 2012.
$4,817,951 was for loan repayments to the General Fund, pursuant to Health and Safety Code
(HSC) Sections 33220, 33600, 33601 & 33610, and Cooperation Agreement #2011-07 and the
related Promissory Note. In addition, on March 30,2011,pursuant to Resolution#2011-17 (City)
and 388 (RDA), the RDA transferred$14,023,000 of capital assets to the City for the Waterfront.
A list of the transfers for the period of January 1, 2011 to January 31,2012 is included as Exhibit
C of the AUP Report.
The Successor Agency asserted between February 1, 2012 and September 30, 2012, the City
transferred assets totaling $14,023,000 for the Waterfront property back to the Successor Agency
from the City in accordance with Resolution #2012-98. This resolution required the City to
transfer assets of the former RDA, from the City of Huntington Beach to the Successor Agency
Redevelopment Fund. This resolution reversed the transfer previously made in accordance with
Resolution #2011-17, as noted previously. A listing of the transfer for the period
February 1,2012 through September 30,2012, is included as Exhibit C of the AUP Report.
3
EXHIBIT A
CITY OF HUNTINGTON BEACH REDEVELOPMENT SUCCESSOR AGENCY
AGREED UPON PROCEDURES
PURSUANT TO AB 1484-ALL OTHER FUNDS
3. If the State Controller's Office has completed its review of transfers required under both Sections 34167.5
and 34178.8 and issued its report regarding such review, attach a copy of that report as an exhibit to the
AUP report. If this has not yet occurred,perform the following procedures:
A. Obtain a listing prepared by the Successor Agency of transfers (excluding payments for goods and
services) from the former redevelopment agency to any other public agency or to private parties for
the period from January 1, 2011 through January 31, 2012. For each transfer, the Successor Agency
should describe the purpose of the transfer and describe in what sense the transfer was required by
one of the Agency's enforceable obligations or other legal requirements. Provide-this listing as an
attachment to the AUP report.
B. Obtain a listing prepared by the Successor Agency of transfers (excluding payments for goods and
services) [from.the Successor Agency to any other public agency or private parties for the period
from February 1,2012 through September 30,2012. For each transfer, the Successor Agency should
describe the purpose of the transfer and describe in what sense the transfer was required by one of
the Agency's enforceable obligations or other legal requirements. Provide this listing as an
attachment to the AUP report.
C. For each transfer, obtain the legal document that formed the basis for the enforceable obligation that
required any transfer. Note in the AUP report the absence of any such legal document or the absence
of language in the document that required the transfer.
Findings — The Successor Agency asserted the State Controller's Office has not completed a
review of transfers required under both Sections 34167.5 and 34178.8. The Successor Agency
also asserted no transfers were made from the former RDA or the Successor Agency to any other
public agency or to private parties for the period from January 1,2011 through January 31,2012,.
and the period from February 1,2012 through September 30,2012,respectively.
4. Perform the following procedures:
A. Obtain from the Successor Agency a summary of the financial transactions of the Redevelopment
Agency and the Successor Agency in the format set forth in the attached schedule for the fiscal
periods indicated in the schedule. For purposes of this summary, the financial transactions should be
presented using the modified accrual basis of accounting. End of year balances for capital assets (in
total) and long-term liabilities (in total) should be presented at the bottom of this summary schedule
for information purposes.
B. Ascertain that for each period presented, the total of revenues, expenditures, and transfers accounts
fully for the changes in equity from the previous fiscal period.
C. Compare amounts in the schedule relevant to the fiscal year ended September 30, 2010, to the State
Controller's Report filed for the Redevelopment Agency for that period.
4
EXHIBIT A
CITY OF HUNTINGTON BEACH REDEVELOPMENT SUCCESSOR AGENCY
AGREED UPON PROCEDURES
PURSUANT TO AB 1484-ALL OTHER FUNDS
D. Compare amounts in the schedule for the other fiscal periods presented to account balances in the
accounting records or other supporting schedules. Describe in the report the type of support provided
for each fiscal period.
Findings—We obtained from the Successor Agency a summary of the financial transactions. We
determined through recalculation that the total of revenues, expenditures and transfers fully
accounts for the changes in equity from the previous fiscal periods. The amounts in the schedule
for September 30, 2010 were agreed to the State Controller's Report filed by the Redevelopment
Agency. In addition, we agreed the amounts from fiscal year ending September 30, 2011 to the
audited Component Unit Financial Report, rounded to the thousands. We agreed the periods
ended January 31, 2012 and September 30, 2012, to the accounting records of the former
Redevelopment Agency and the Successor Agency, respectively. The summary of financial
transactions is included as Exhibit B of the AUP Report.
5. Obtain from the Successor Agency a listing of all assets of the Low and Moderate Income Housing Fund
as of September 30, 2012 for the report that is due October 1, 2012 and a listing of all assets of all other
funds of the Successor Agency as of September 30, 2012 (excluding the previously reported assets of the
Low and Moderate Income Housing Fund) for the report that is due December 15, 2012. When this
procedure is applied to the Low and Moderate Income Housing Fund, the schedule attached as an exhibit
will include only those assets of the Low and Moderate Income Housing Fund that were held by the
Successor Agency as of September 30, 2012 and will exclude all assets held by the entity that assumed
the housing function previously performed by the former redevelopment agency. Agree the assets so
listed to recorded balances reflected in the accounting records of the Successor Agency. The listings
should be attached as an exhibit to the appropriate AUP report.
Findings — For the Successor Agency Other Funds, we agreed the assets listed to the recorded
balances reflected in the Successor Agency's accounting records. We noted the asset balances of
the "All Other Funds" as of September 30, 2012, was $30,087,087 consisting of cash and cash
equivalents, cash with fiscal agent, loans receivables, land, and land held for resale. See Exhibit
C-1 for the listing of assets of the"All Other Funds"as of September 30,2012.
6. Obtain from the Successor Agency a listing of asset balances held on September 30, 2012, that are
restricted for the following purposes:
A. Unspent bond proceeds:
i. Obtain the Successor Agency's computation of the restricted balances (e.g., total proceeds less
eligible project expenditures, amounts set aside for debt service payments,etc.).
ii. Trace individual components of this computation to related account balances in the accounting
records, or to other supporting documentation (specify in the AUP report a description of such
documentation).
iii. Obtain from the Successor Agency a copy of the legal document that sets forth the restriction
pertaining to these balances. Note in the AUP report the absence of language restricting the use
of the balances that were identified by the Successor Agency as restricted.
5
EXHIBIT A
CITY OF HUNTINGTON BEACH REDEVELOPMENT SUCCESSOR AGENCY
AGREED UPON PROCEDURES
PURSUANT TO AB 1484-ALL OTHER FUNDS
B. Grant proceeds and program income that are restricted by third parties:
i. Obtain the Successor Agency's computation of the restricted balances (e.g., total proceeds less
eligible project expenditures).
ii. Trace individual components of this computation to related account balances in the accounting
records, or to other supporting documentation (specify in the AUP report a description of such
documentation).
iii. Obtain from the Successor Agency a copy of the grant agreement that sets forth the restriction
pertaining to these balances. Note in the AUP report the absence of language restricting the use
of the balances that were identified by the Successor Agency as restricted.
C. Other assets considered to be legally restricted:
i. The Successor Agency's computation of the restricted balances (e.g., total proceeds less eligible
project expenditures).
ii. Trace individual components of this computation to related account balances in the accounting
records, or to other supporting documentation (specify in the AUP report a description of such
documentation).
iii. Obtain from the Successor Agency a copy of the legal document that sets forth the restriction
pertaining to these balances. Note in the AUP report the absence of language restricting the use
of the balances that were identified by Successor the Agency as restricted.
D. Attach the above mentioned Successor Agency prepared schedule(s) as an exhibit to the AUP report.
For each restriction identified on these schedules, indicate in the report the period of time for which
the restrictions are in effect. If the restrictions are in effect until the related assets are expended for
their intended purpose,this should be indicated in the report.
Findings — The Successor Agency asserted that assets totaling $2,422,613 were restricted as the
assets represented debt service reserve requirements for the 1999 and 2002 Tax Allocation Bonds.
The funds are held with a third party trustee as required by the bond covenants. We were
provided copies of the official statements related to the bond reserves. We traced the recorded
balances to the accounting records of the Successor Agency, noting no exceptions. See Exhibit
C-2 of the AUP Report for a listing of assets that are legally restricted.
7. Perform the following procedures:
A. Obtain from the Successor Agency a listing of assets as of September 30, 2012, that are not liquid or
otherwise available for distribution(such as capital assets, land held for resale, long-term receivables,
etc.) and ascertain if the values are listed at either purchase cost(based on book value reflected in the
accounting records of the Successor Agency) or market value as recently estimated by the Successor
Agency.
B. If the assets listed at 7(A) are listed at purchase cost, trace the amounts to a previously audited
financial statement(or to the accounting records of the Successor Agency) and note any differences.
C. For any differences noted in 7(B), inspect evidence of disposal of the asset and ascertain that the
proceeds were deposited into the Successor Agency trust fund. If the differences are due to additions
(this generally is not expected to occur), inspect the supporting documentation and note the
circumstances.
6
EXHIBIT A
CITY OF HUNTINGTON BEACH REDEVELOPMENT SUCCESSOR AGENCY
AGREED UPON PROCEDURES
PURSUANT TO AB 1484-ALL OTHER FUNDS
D. If the assets listed at 7(A) are listed at recently estimated market value, inspect the evidence(if any)
supporting the value and note the methodology used. If no evidence is available to support the value
and/or methodology,note the lack of evidence.
Findings — The Successor Agency asserted that the Successor Agency Redevelopment Funds
have land parcels totaling $15,033,359, land- held for resale totaling $5,978,103, and notes
receivables totaling $158,988 that are considered non-liquid assets. The parcels have been
transferred to the Successor Agency at historical cost and notes receivables were transferred at
current receivable value. We traced the non-liquid assets to the accounting records of the
Successor Agency noting no exceptions. The total of non-liquid assets is $21,170,451. A listing
of the non-liquid assets is included at Exhibit C-3 of the AUP Report.
8. Perform the following procedures:
A. If the Successor Agency believes that asset balances need to be retained to satisfy enforceable
obligations, obtain from the Successor Agency an itemized schedule of asset balances (resources) as
of September 30, 2012 that are dedicated or restricted for the funding of enforceable obligations and
perform the following procedures. The schedule should identify the amount dedicated or restricted,
the nature of the dedication or restriction, the specific enforceable obligation to which the dedication
or restriction relates, and the language in the legal document that is associated with the enforceable
obligation that specifies the dedication of existing asset balances toward payment of that obligation.
i. Compare all information on the schedule to the legal documents that form the basis for the
dedication or restriction of the resource balance in question.
ii. Compare all current balances to the amounts reported in the accounting records of the Successor
Agency or to an alternative computation.
iii. Compare the specified enforceable obligations to those that were included in the final Recognized
Obligation Payment Schedule approved by the California Department of Finance.
iv. Attach as an exhibit to the report the listing obtained from the Successor Agency. Identify in the
report any listed balances for which the Successor Agency was unable to provide appropriate
restricting language in the legal document associated with the enforceable obligation.
B. If the Successor Agency believes that future revenues together with balances dedicated or restricted to
an enforceable obligation are insufficient to fund future obligation payments and thus retention of
current balances is required, obtain from the Successor Agency a schedule of approved enforceable
obligations that includes a projection of the annual spending requirements to satisfy each obligation
and a projection of the annual revenues available to fund those requirements and perform the
following procedures:
i. Compare the enforceable obligations to those that were approved by the California Department of
Finance. Procedures to accomplish this may include reviewing the letter from the California
Department of Finance approving the Recognized Enforceable Obligation Payment Schedules for
the six month period from January 1, 2012 through September 30, 2012, and for the six month
period July 1,2012 through December 31,2012.
7
EXHIBIT A
CITY OF HUNTINGTON BEACH REDEVELOPMENT SUCCESSOR AGENCY
AGREED UPON PROCEDURES
PURSUANT TO AB 1484-ALL OTHER FUNDS
ii. Compare the forecasted annual spending requirements to the legal document supporting each
enforceable obligation.
a. Obtain from the Successor Agency its assumptions relating to the forecasted annual spending
requirements and disclose in the report major assumptions associated with the projections.
iii. For the forecasted annual revenues:
a. Obtain from the Successor Agency its assumptions for the forecasted annual revenues and
disclose in the report major assumptions associated with the projections.
C. If the Successor Agency believes that projected property tax revenues and other general purpose
revenues to be received by the Successor Agency are insufficient to pay bond debt service payments
(considering both the timing and amount of the related cash flows), obtain from the Successor .
Agency a schedule demonstrating this insufficiency and apply the following procedures to the
information reflected in that schedule.
i. Compare the timing and amounts of bond debt service payments to the related bond debt service
schedules in the bond agreement.
ii. Obtain the assumptions for the forecasted property tax revenues and disclose major assumptions
associated with the projections.
iii. Obtain the assumptions for the forecasted other general purpose revenues and disclose major
assumptions associated with the projections.
D. If procedures A, B, or C were performed, calculate the amount of current unrestricted balances
necessary for retention in order to meet the enforceable obligations by performing the following
procedures.
i. Combine the amount of identified current dedicated or restricted balances and the amount of
forecasted annual revenues to arrive at the amount of total resources available to fund enforceable
obligations.
ii. Reduce the amount of total resources available by the amount forecasted for the annual spending
requirements. A negative result indicates the amount of current unrestricted balances that needs
to be retained.
iii. Include the calculation in the AUP report.
Findings — We obtained the schedule of asset balances that need to be retained to satisfy
enforceable obligations. Pursuant to a cash flow prepared by the Successor Agency illustrated on
Exhibit C-4, the Successor Agency identified that $6,494,023 needed to be retained to satisfy
enforceable obligations. The cash flow illustrates that the $6,494,023 needs to be retained to
satisfy enforceable obligations including two items that are the subject of meet and confer
procedures with the State Department of Finance.
These two items consist of the Emerald Cove 2010 Series A Lease Revenue Refunding Bonds
included in the cash flow as column 3 on page 20 and the statutory obligation for Pacific City
Very Low Income Units included in the cash flow as column 30 on page 24.
8
EXHIBIT A
CITY OF HUNTINGTON BEACH REDEVELOPMENT SUCCESSOR AGENCY
AGREED UPON PROCEDURES
PURSUANT TO AB 1484-ALL OTHER FUNDS
9. If the Successor Agency believes that cash balances as of September 30, 2012, need to be retained to
satisfy obligations on the Recognized Obligation Payment Schedule (ROPS) for the period of
July 1, 2012 through June 30, 2013, obtain a copy of the final ROPS for the period of July 1, 2012
through December 31, 2012, and a copy of the final ROPS for the period January 1, 2013 through
June 30, 2013. For each obligation listed on the ROPS, the Successor Agency should add columns
identifying (1) any dollar amounts of existing cash that are needed to satisfy that obligation, and (2) the
Successor Agency's explanation as to why the Successor Agency believes that such balances are needed
to satisfy the obligation. Include this schedule as an attachment to the AUP report.
Findings — We obtained the schedule of asset balances that need to be retained to satisfy
enforceable obligations. Pursuant to a cash flow prepared by the Successor Agency illustrated on
Exhibit C-4, the Successor Agency identified that $6,494,023 needed to be retained to satisfy
enforceable obligations. The cash flow illustrates that the $6,494,023 needs to be retained to
satisfy„enforceable obligations including two items that are the subject of meet and confer
procedures with the State Department of Finance.
These two items consist of the Emerald Cove 2010 Series A Lease Revenue Refunding Bonds
included in the cash flow as column 3 on page 20 and the statutory obligation for Pacific City
Very Low Income Units included in the cash flow as column 30 on page 24.
10. Include (or present) a schedule detailing the computation of the Balance Available for Allocation to
Affected Taxing Entities. Amounts included in the calculation should agree to the results of the procedures
performed in each section above. The schedule should also include a deduction to recognize amounts
already paid to the County Auditor-Controller on July 12, 2012, as directed by the California Department
of Finance. The amount of this deduction presented should be agreed to evidence of payment. The
attached example summary schedule may be considered for this purpose. Separate schedules should be
completed for the Low and Moderate Income Housing Fund and for all other funds combined (excluding
the Low and Moderate Income Housing Fund).
Findings — We have included a schedule detailing management's assertion of the computated
Balance Available for Allocation to Affected Taxing Entities. See Exhibit C-5.
11. Obtain a representation letter from Successor Agency management acknowledging their responsibility for
the data provided to the practitioner and the data presented in the report or in any attachments to the
report. Included in the representations should be an acknowledgment that management is not aware of
any transfers (as defined by Section 34179.5) from either the former redevelopment agency or the
Successor Agency to other parties for the period from January 1, 2011 through September 30, 2012 that
have not been properly identified in the AUP report and its related exhibits. Management's refusal to sign
the representation letter should be noted in the AUP report as required by attestation standards.
Findings — The Successor Agency provided a management representation letter. No exceptions
were noted.
9
City of Huntington Beach Redevelopment Successor Agency Exhibit B
Pursuant To AB 1484-All Other Funds
Summary of Financial Transactions
Unaudited Unaudited
Redevelopment Redevelopment Redevelopment Successor
Agency Agency Agency Agency
12 Months Ended 12 Months Ended 4 Months Ended 8 Months Ended
9/30/10 9/30/11 1/31/2012 9/30/12
Assets
Cash and Investments $ 11,175,988 $ 6,795,373 $ 14,001,933 $ 6,494,023
Cash with Fiscal Agent 2,402,319 2,450,681 3,039,273 2,422,613
Tax Increment Receivable 4,509,650 3,866,063 -
Accounts Receivable 753,399 78,826
Accrued Interest Receivable 37,060 19,239 - -
Loans Receivable 8,070,000 10,334,925 10,383,647 158,988
Due from Capital Projects Fund 1,823,575 1,836,536 1,362,614 -
Due from Debt Service Fund 4,507,706 5,514,257 3,927,706
Other Assets(Advances to Other Funds) 302,489 - - -
Land Held for Resale 6,158,399 - - 5,978,103
Total Assets $ 39,740,585 $ 30,895,900 $ 32,715,173 $ 15,053,727
Liabilities
Accounts Payable $ 217,065 $ 3,226,481 $ 923,638 $ 8,846
Deposits Payable - - 114,981 114,981
Other Liabilities 3,773,291 - - -
Deferred Revenue 10,353,740 10,219,516 10,219,516
Due to Capital Projects Fund 659,961 1,570,473 -
Due to Debt Service Fund 1,081,000 5,780,320 - -
Due to Low/Mod Income housing Fund 4,590,320 - 51290,320 5,290,320
Total Liabilities $ 20,675,377 $ 20,796,790 $ 16,548,455 $ 5,414,147
Equity 19,065,208 10,099,110 16,166,718 9,639,580
Total Liabilities+Equity $ 39,740,585 $ 30,895,900 $ 32,715,173 $ 15,053,727
Total Revenues: $ 22,823,373 $ 19,236,576 $ 7,313,828 $ 3,491,464
Total Expenditures/Expenses: $ 31,336,767 $ 28,202,674 $ 1,246,220 $ 5,691,012
Total Transfers: $ $ $ - $ -
Total Extraordinary Items: $ $ $ - $ 11,839,128
Net change in equity $ (8,513,394) $ (8,966,098) $ 6,067,608 $ 9,639,580
Beginning Equity: $ 27,578,602 $ 19,065,208 $ 10,099,110 $ -
Ending Equity: $ 19,065,208 $ 10,099,110 $ 16,166,718 $ 9,639,580
Other Information(show year end balances for all three years presented):
Capital assets as of end of year $ 48,777,000 (A) $ - $ - $ 15,033,359
Long-term debt as of end of year $ 139,237,000 $ 133,399,000 $ 129,490,040 $ 140,033,942
(A)In fiscal year 2009-10,the Agency transferred depreciable capital assets with a net book value of$31,624,000 for a public parking structure
and blufftop restrooms.Refer to Note 12 of the audited redevelopment agency financial statements for the year ending September 30,2011 for
further detail.
10
City of Huntington Beach Redevelopment Successor Agency Exhibit C
Pursuant To All 1484-All Other Funds
Schedule of Asset'fransfers to the City,County,or City and County,and Other Public Agencies or Private Parties
$VALUE OF $VALUE OF ASSETS SOURCE DOC
DATE OF TRANSFER DESCRIPTION OF ASSETS RECIPIENT ASSETS TRANSFERRED NOT SUPPORTED PURPOSE OF TRANSFER BASIS FOR TRANSFER
Period q/.lan 1,2011 through Jan 31,2012
1/1/201 1 Cash City of Huntington Beach $ 409,483 Repayment of loan oustanding Health and Safety Code Sections 33220,
General Fund to the City for the purchase of 33600,33601,33610 and cooperation
land agreement#201 1-07 and the related
promissory note
2/28/201 1 Cash City of Huntington Beach 409,483 Repayment of loan oustanding Heahh and S'alery Code Suctions 33220,
General Fund to the City fur the purchase of 33600,33601,33610 and cooperation
land agreement 9201 1-07 and the related
promissory note
3/7/2011 Cash City of Huntington Beach 2,456,900 Repayment of loan oustanding Heahh and hileiy Code Sections 33220,
General Fund to the City for the purchase of 33600,33601,33610 and cooperation
land agreement 42011-07 and the related
promissory note
3/31/201 1 Cash City of Huntington Beach 409,483 Repayment of loan oustanding Health and Safety Code Sections 33220,
- General Fund to the City for the purchase of 33600,33601,33610 and cooperation
land agreement 9201 1-07 and the related
promissory note
9/29/201 1 Cash City of Huntington Beach 1,132,602 Repayment of loan oustanding Health and Sgilwy(:ode Sections 33220,
General Fund to the City for the purchase of 33600,33601,33610 and cooperation
laud agreement 42011-07 and the related
promissory note
3/7/2011 Waterfront City of Huntington Beach 14,023,000 Resolution#2011-17 Disposition and development agreement by
See Footnote I and between the Redevelopment Agency of
the City of Huntington Beach and PCI1
Beach Resort,LLC dated April 4,2001,
City Council Resolutions 4 2011-17&
2011-18 and Redevelopment Agency
Resolution#'s 387&388.
$ 18,840,952
Period of Feb 1,2012 through September 30,2012
9/30/2012 Waterfront Successor Agency (14,023,000) Footnote 1 Reversal oftransfer for disposition and
development agreement.
TOTAL $ 4,817,952 $ -
Footnote 1 The$14,023,000 waterfront property is an asset Of the Successor Agency as of September 30,2012,
11
Exhibit C-1
City of Huntington Beach Redevelopment Successor Agency
All Other Funds-Listing of Assets
As of September 30,2012-Unaudited
Note: Excludes all assets held by the entity that assumed the housing function of the former RDA
Assets
Cash and investments
Cash with Treasurer $ 6,494,023
Total $ 6,494,023
Cash/investments w/Fiscal Agent
1999 TABS Cash with Fiscal Agent 753,775
202 TABS Cash with Fiscal Agent 1,668,838
Total 2,422,613
Other assets
Auto BID Loan Receivable 43,572
NF Loan Receivable 115,416
Land 15,033,359
Land Held for Resale 5,978,104
Total 21,170,451
TOTAL ASSETS AT 9/30/2012: $ 30,087,087
* Includes the$14,023,000 land as noted in Exhibit C.
12
City of Huntington Beach Redevelopment Successor Agency Exhibit C-2
Pursuant To AB 1484-All Other funds
Legally Restricted Amounts
PERIOD OF
ITEM DESCRIPTION ACCOUNT AMOUNT PURPOSE/DOC SOURCE/LEGAL DOCUMENT RESTRICTION
A Unspent Bond Proceeds
None
B Grant proceeds and program income restrict by third parties
None
C Other assets/Debt Service
a 1999 TABS Bond Reserve 35010835 $ 753,775 1999 Tax Allocation Bonds Official Statement dated January August 1,2024
held with Fiscal Agent 12, 1999 debt reserve finds
b 2002 TABS Bond Reserve 35010845 1,668,838 2002 Tax Allocation Bonds Official Statement dated June 19, August 1, 2024
held with Fiscal Agent 2002 debt reserve funds
Total $ 2,422,613
13
City of Huntington Beach Redevelopment Successor Agency Exhibit C-3
Pursuant To AB 1484-All Other Funds
Non Liquid Assets-All Other Funds
ITEM DESCRIPTION GL ACCT NO AMOUNT VALUE METHOD(COST OR MARKET)
A Capital Assets
1 10 foot remnant of land 661.19100 $ 259,000 Cost
2 Surf Museum,411 Olive Avenue 661.18100 286,301 Cost
3 Gothard/Center(Westminster Parcel) 661.18100 465,059 Cost
4 Waterfront 661.18100 14,023,000 Cost
B Land Held for Resale
1 Center Ave. near McFadden* 350.18160 1,084,074 Cost
2 South side of Edinger Avenue and East of Parkside 350.18160 664,582 Cost
3 Northwest corner of Aldrich and Parkside 350.18160 753,180 Cost
4 7872 Edinger Avenue 350.18160 3,476,267 Cost
C Long Term Receivables
1 Auto BID Loan Receivable 350.14100, 350.14102 43,572 Current balance as of September 30, 2012
2 NF Huntington Loan Receivable 350.14100, 350.13299 115,416 Current balance as of September 30,2012
Total $ 21,170,451
* Current under construction as a public skate park
14
Summary- Exhibit C-4
Summary of 5 Year Cash Flow/RPTTF Funding Forecast
Successor Agency to Huntin ton Beach Redevelopment Agency
1 2 3 5 6 7 8 9 10 11 12
Certificate of Compliance
Less Debt Service,
Bond Fees,Loan Less SERAF Less ROPS Less City Emerald
Semi Annual Repayments,Other Less Admin Subtotal 200912010 Items 41-49 Less City GF Cove Land Subtotal Transfer From 80%
Fiscal Year Payment Date Property Tax Costs&Unpaid Allowance Overt(Under) Repayment Repayment Loan Repayment Repayment Overt(Under) Funds Annual Distribution
Pass Throughs
2011-12 Jan-12 8,260,099 7,457,973 250,000 552,126 552,126 552,126
2012-13 Jun-12 3,428,586 5,580,531 - (2,151,945) (2,151,94-5) (2,151,945)
Jan-13 7,012,392 13,613,218 304,106 (6,904,932) (6,904,932) 6,494,023 (410,909)
2013-14 Jun-13 4,106,000 1,879,905 125,000 2.101,095 - 2,101,095 - 2,101,095
Jan-14 7,970,000 4,773,775 143,213 3,053,012 1,526,505 1.526,507 1,526,507
2014-15 Jun-14 4,106,000 4,074,301 125,000 (93,301)
(93,301) (93,301)
Jan-15 7,970,000 3,274,560 125,000 4,570,440 2,285,218 2,285,222 2,285,222
2015-16 Jun-15 4,106,000 3,202,629 125,000 778,371 272,221 93,571 412,578 412,578
Jan-16 7,970,000 4,405,242 132,157 3,432,600 - 1,373,040 2,059,560 2,059,560
2016-17 Jun-16 4,106,000 3,240,114 125,000 740,886 296,354 444,532 444,532
Jan-17 7,970,000 4,443,626 133,309 3,393,066 1,357,226 2,035,840 2,035,840
2017-18 Jun-17 4,308,000 3,278,513 125,000 904,487 361,794 542,692 542,692
Jan-18 8,363,000 4,494,260 134,828 3,733,912 1,493,565 2,240,347 2,240,347
Prepared by Keyser Marston Associates,Inc. 15
Filename:HB_CF_2013-01-09_Scenario2.Summary:1/9/2013:GSH:Page 1 of 1
Table t Exhibit C-4(Continued)
Cash Flow/RPTTF Funding Forecast
Successor Agency to Huntington Beach Redevelopment Agency
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
Certificate o/Completion Received
Less City Loan
Agency Less SERAF Less ROPS Repayment
Semi Annual Other Loan Unpaid Pass Expenditures Oct Subtotal Over/ 20092010 Items 41-49 Less City GF Emerald Cove Land Subtotal Over/ Transfer From
Fiscal Year Payment Data Property Tax Bond Debt Service Bond Fees Repayments Other Costs Throughs AdminAlowance 201 Wan 2012 Costs Subtotal (Under) Repayment Repayment Loan Repayment GPA (Under) 80%Funds Annual Distribution
2011-12 Jan-12 8,260,099 2,794,176 376,7B6 753,510 692,378 2,653000 250,000 188,123 7,707,973 552,126 - - - - 552,126 552,126
2012-13 Jun-12 3,428,586 2,689,152 371,708 2,045,779 473,892 - - - 5,580 531 (2,151,945) - - - - (2,151,945) (2,151,945)
Jan-13 7,012,392 3,216671 1,577060 1,998,487 6,821,000 304,106 - 13,917324 (6,904,932) - - (6,904,932) 6,494,023 (410,909)
2013-14 Jun-13 4,106,000 - 734,936 942,420 202,549 - 125,000 - 2,004,905 2,101,095 - - - - 2,101,095 - 2,101,095
Jan-14 7,970,000 3,237,642 5,160 1,496 008 34,965 - 143,213 - 4,916,988 3,053,012 1,526,505 - - - 1,526,507 - 1,526,507
2014-15 Jun-14 4,106 000 - 734,936 3,163,504 175,861 - 125,000 - 4,199,301 (93,301) - - - (93,301) - (93,301)
Jan-15 7,970,000 3,248,400 5,160 6,000 15,000 - 125,000 - 3,399,560 4,570,440 2,285,218 - - - 2,285,222 - 2,285,222
2015-16 Jun-15 4,106,000 - 734,936 2,310,534 157,159 - 125,000 - 3,327,629 778,371 272,221 93,571 - - 412,578 - 412,578
Jan-16 7,970 000 3,287,963 5,160 1,112,119 - - 132,157 - 4,537,400 3,432,600 - 1,373,040 - - 2,059,560 - 2,059,560
2016-17 Jun-16 4,106,000 - 734,936 2,342,492 162,686 - 125,000 - 3,365,114 740,886 - 296,354 - - 444,532 - 444,532
Jan-17 7,970 000 3,302,033 5,160 1,136,433 - - 133,309 - 4,576,934 3,393,066 - 1,357,226 - - 2,035,840 - 2,035,840
2017-18 Jun-17 4,308,000 - 734,936 2,375,089 168,488 - 125,000 - 3,403,513 904,487 - 361,794 - - 542,692 - 542,692
Jan-18 8,363,000 3,318,868 5,160 1,155,233 15,000 - 134,828 - 4,629,088 3,733,912 - 1,493,565 - - 2,240,347 - 2,240,347
2018-19 Jun-18 4,308,000 - - 2,402,337 174,581 - 125000 - 2,701,918 1,606,082 - 642433 - - 963649 - 963,649
Jan-19 8,363,000 3,345,647 5,160 1,180,528 - - 135,940 - 4,667,275 3,695,725 - 1,478,290 - - 2,217,435 - 2,217,435
2019-20 Jun-19 4,308,000 - - 2,436,251 180,978 - 125,000 - 2,742,229 1,565,771 - 626,308 - - 939,463 - 939,463
Jan-20 8363,000 1,878 666 5,160 1,206,330 - - 125,000 - 3,215,156 5,147,844 - 2,059,138 - - 3,088,706 - 3,088,706
2020-21 Jun-20 4,308,000 - - 2470,843 187696 - 125,000 - 2,783,539 1,524,461 - 609,784 - - 914,677 - 914677
Jan-21 8,363,000 1,875,425 5,160 1,232,648 15,000 - 125,000 - 3,253,233 5,109,767 - 2,043,906 - - 3,065,861 - 3,065,861
2021-22 Jun-21 4,308,000 - - 2,506,127 194,749 - 125,000 - 2,825,876 1,482,124 - 592,850 - - 889,275 - 889,275
Jan-22 8,363,000 1,468,250 5,160 1,259 492 - - 125,000 - 2,857,902 5,505,098 - 2,202,038 - - 3,303,060 - 3,303,060
2022-23 Jun-22 4,308,000 - - 2,542,116 202,154 - 125,000 - 2,869,270 1,438,730 - 575,491 - - 863,238 - 863,238
Jan-23 8,363,000 1,469,250 5,160 1,286,873 - - 125,000 - 2,886,283 5,476,717 - 2,190,686 - -- - 3,286,030 - 3,286,030
2023-24 Jun-23 4,308,000 - - 2,578,825 209,930 - 125,000 - 2,913,755 1,394,245 - 557,698 - - 836,547 - 836,547
Jan-24 8,363,000 1,197,000 5,180 1,314,802 15,000 - 125,000 - 2,656,962 5,706,038 - 2,282,415 - - 3,423,623 - 3,423,623
2024-25 Jun-24 4,308,000 - - 2,616,269 218,095 - 125,000 - 2,959,364 1,348,636 - 539,454 - - 809,182 - 809,182
Jan-25 8,363 000 1,168,500 5,160 1,343,289 - - 125,000 - 2,641,949 5,721,051 - 2,288,420 - - 3,432,631 - 3,432,631
2025-26 Jun-25 4,308,000 - - 2,020,528 226,668 - 125,000 - 2,372,196 1,935,804 - 774,321 - - 1,161,483 - 1,161,483
Jan-26 8,363,000 - - 1,372,346 - - 125,000 - 1,497,346 6,865,654 - 2,746,262 - - 4,119,392 - 4,119,392
2026-27 Jun-26 4,308,000 - - 752,479 235,670 - 125,000 - 1,113,149 3,194,851 - 1,277,940 - - 1,916,911 - 1,916,911
16
Prepared by Keyser Marston Associates,Inc.
Filename:HB CF 2013-01-09 Scenario2:CashFIDW Alt:1/9/2013:GSH:Page 1 of 4
Table 1 Exhibit C-4(Continued)
Cash Flow/RPTTF Funding Forecast
Successor Agency to Huntin ton Beach Redevelopment Agency
1 2 3 4 5 6 7 9 9 10 11 12 13 14 15 16 17
Certificate of Completion Received
Less City Loan
Agency Less SERAF Less ROPS Repayment
SemiAnnuai Other Loan Unpaid Pass ExpendNures Oct Subtotal Over/ 20OK010 Items 41-49 Less City GF Emerald!Cove Land Subtotal Over/ Transfer From
Fiscal Year Payment Dale Property Tax Bond Debt Service Bond Fees Repayments Other Costs Throughs Admin Alb... 2011-Jan 2012 Costs Subtotal (Under) Repayment Repayment Loan Repayment OPA (Under) 80%Funds Annual Distribution
Jan-27 8,363,000 - - 1,401,984 15,000 - 125,000 - 1,541,984 6,821,016 - 2,728,406 - - 4,092,610 - 4,092,610
2027-28 Jun-27 4,308000 - - 752.479 245,122 - 125,000 - 1,122,601 3,185,399 - 1,274,159 - - 1,911,240 - 1,911,240
Jan-28 8,363,000 - - 1,432,215 - - 125,000 - 1,557,215 6,805,785 - 2,722,314 - - 4,083,471 - 4,083,471
2D28-29 Jun-28 4,3D8,000 - - 752,479 255,046 - - 125,000 - 1,132,525 3,175,475 - 1,270,190 - - 1,905,286 - 1,905,285
Jan-29 8,363,000 - - 1,463,050 - - 125,000 - 1,688,060 6,774,960 - 2,709,979 - - 4,064,970 - 4,064,970
202"0 Jun-29 4,308,000 - - 752,479 265,467 - 125,000 - 1,142,946 3,165,054 - 1,266,022 - - 1,899,033 - 1,899,033
Jan-30 8,363,000 - - 1,494,503 15,000 - 125,000 - 1,634,503 6,728,497 - 2,691,398 - - 4,037,099 - 4,037,099
263D-31 Jun-30 4,308,000 - - 752,479 276,408 - 125,000 - 1,153,887 3,154,113 - 1,261,645 - - 1,892,468 - 1,892,468
Jan-31 8,363000 - - 1,626,584 - - 125,000 - 1,651,584 6,711,416 - 2,684,566 - - 4,026,850 - 4,026,850
2D3132 Jun-31 4,308,ODD - - 752,479 287,897 - 125000 - 1,165,376 3,142,624 - 1,267,049 - - 1,885,575 - 1,885,575
Jan-32 8,363,000 - - 1,569,307 - - 125000 - 1684,307 6,678,693 - 2,671,477 - - 4007,216 - 4,007,216
2D32-33 Jun-32 4,308,OOD - - 752,479 299,960 - 125.000 - 1,177,439 3,130,661 - 1,262,224 - - 1,878,337 - 1,878,337
Jan-33 8,363,000 - - 1.592684 15,000 - 125,000 - 1,732684 6,630,316 - 2,662,126 - - 3,978,190 - 3,978,190
203334 Jun-33 4,308,000 - - 750675 312,627 - 125000 - 1,188,302 3,119698 - 1,247,879 - - 1,871,819 - 1,871,819
Jan-34 8,363,000 - - 532,514 - - 125,000 - 657,514 7,705,486 - 3,082,194 - - 4,623,292 - 4,623,292
2D34-35 Jun-34 4,308,000 - - - 326,926 - 125,000 - 450,926 3,857,074 - 1,542,829 - - 2,314,245 - 2,314,245
Jan-35 8,363,000 - - - - - - - - 8,363,000 - 3,345,200 - - 5,017,800 - 5,017,800
203536 Jun-35 4,308,000 - - - 339,891 - 125,000 - 464,891 3,843,109 - 1,537,243 - - 2,305,866 - 2,305,866
Jan-36 8,363,000 - - - 15 000 - 125,000 - 140,000 8,223,000 - 3,289,200 - - 4,933,800 - 4,933,800
2D3637 Jun-36 2,227,000 - - - 354,554 - 125,000 - 479554 1,747,446 - 698,978 - - 1,048,468 - 1,048,468
Jan-37. 4,323,000 - - - _ _ _ - - 4,323,000 - 1,729,200 - - 2,693,800 - 2,593,800
203738 Jun-37 - - - - 369,950 - 125,000 - 494,960 - - - _ _
_ - _ _ _ (494,950) (494,950) (494,950)
Jan-38 - -
Total Funds Needed 6,494,023
Prepared by Keyser Marston Associates,Inc. 17
Filename:HB_CF_2013-01-09_Scenario2:Cash Flow Alt:1/9/2013:GSH:Page 2 of 4
Table 2 Exhibit C-4(Continued)
Cash Flow/RPTTF Funding Forecast-Funds On Hand
Successor Agency to Huntington Beach Redevelopment Agency
18 19 20 21 22 23
Funds On Hand-80%Tax Increment Revenues(Excluding Bond Proceeds)
Payment Beginning Annual Interest Transferred Use for ROPS Transfer to
Fiscal Year Date Balance Earnings Proceeds Hording Taxing Entities Fading Balance
0.525%
as of 9/30/2012 6,494,023 - - - - 6,494,023
2012-13 Jan-13 6,494,023 (6,494,023) 0
Jun-13 - - - 0 0 -
2013-14 Jan-14 - - - 0 0
Jun-14 - - - 0 0 -
2014-15 Jan-15 - - - 0 0 -
Jun-15 - - - 0 0 -
2D15-16 Jan-16 - - - 0 0 -
Jun-16 - - - 0 0 -
2016-17 Jan-17 - - - 0 0 -
Jun-17 - - - 0 0 -
2D17-18 Jan-18 - - - 0 0 -
Jun-18 - - - 0 0 -
2018-19 Jan-19 - - - 0 0 -
Jun-19 - - - 0 0 -
2D19-20 Jan-20 - - - 0 0 -
Jun-20 - - - 0 0 -
2020-21 Jan-21 - - - 0 0 -
Jun-21 - - - 0 0
2021-22 Jan-22 - - - 0 0 -
Jun-22 - - - 0 0 -
202223 Jan-23 - - - 0 ' 0 -
Jun-23 - - - 0 0
2023-24 Jan-24 - - - 0 0 -
Jun-24 - - - 0 0 -
2024-25 Jan-25 - - - 0 0 -
Jun-25 - - - 0 0 -
2025-26 Jan-26 - - - 0 0 -
Jun-26 - - - 0 0 -
Prepared by Keyser Marston Associates,Inc. 1 g
Filename:HB CF 2013-01-09 Scenario2:CashFlow Alt:1/9/2013:GSH:Page 3 of 4
Table 2 Exhibit C-4(Continued)
Cash Flow/RPTTF Funding Forecast-Funds On Hand
Successor Agency to Huntington Beach Redevelopment Agency
is 19 20 21 22 23
Funds On Hand-80%Tax Increment Revenues(Excluding Bond Proceeds)
Payment Beginning Annual Interest Transferred Use for ROPS Transfer to
Fiscal Year Date Balance Earnings Proceeds Funding Taring Entities Ending Balance
0.525%
2026-27 Jan-27 - - - 0 0 -
Jun-27 - - - 0 0 -
2027-28 Jan-28 - - - 0 0 -
Jun-28 - - - 0 0 -
2028-29 Jan-29 - - - 0 0 -
Jun-29 - - - 0 0 -
2029-30 Jan-30 - - - 0 0 -
Jun-30 - - - 0 0 -
2030-31 Jan-31 - - - 0 0 -
Jun-31 - - - 0 0 -
2031-32 Jan-32 - - - 0 0
Jun-32 - - - 0 0 -
2032-33 Jan-33 - - - 0 0 -
Jun-33 - - - 0 0 -
2033-34 Jan-34 - - - 0 0 -
Jun-34 - - - 0 0 -
2034-35 Jan-35 - - - 0 0 -
Jun-35 - - - 0 0 -
2035-36 Jan-36 - - - 0 0 -
Jun-36 - - - 0 0 -
2036-37 Jan-37 - - - 0 0 -
Jun-37 - - - 0 0 -
2036-37 Jan-38 - - - 0 0 -
Totals (6,494,023) 0
Prepared by Keyser Marston Associates,Inc. - 19
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Table 3
Cash Flow/RPTTF Funding Exhibit C-4(Continued)
Forecast-Enforceable
Obligations Based on ROPS 3 -
SuccessorAgencyto
Huntington Beach
Redevelopment Agency 1 2 3 4 5 6 7 a 9 10 11 12 13 14 15
ROPS3 Line Item 3.00 4.D0 12.00 13.00 2.00 5.D0 6.00 7.00 8.00 9.00 10.00 11.DO ROPS1
Enforceable Obligation Description Emerald Cove 2010 HUD Sec 108 - ROPS7:2002 TAB
Ser A Lease Rev Infrastructure Loan Hyatt Regency 2002 TAB Arbitrage 1999 TAB Arbitrage 2002 TAB IRS 2002 TAB 1999 TAB AMBAC Master
Refunding Bonds Hyatt Hilton Bank of DDA Robert Mayer Compliance Rebate Compliance Rebate Arbitrage Rebate 2002 TAB Fiscal 1999 TAB Fiscal Continuing Continuing Repurchase
2002 TAB 1999 TAB (Scenario 2) NY Mellon Bond Debt Service Corp Calculation Calculation Payment Agent Fee Agent Fee Disclosure Disclosure Agreement Bond Fees
Amount Outstanding per ROPS3 $ 16,329,113 $ 7,472,947 $ 3,649,634 $ 3,025,000 $ 30,476,694 $ 5,433,057 $ 500 $ 500 $ 528,754 $ 1,537 $ 848 $ 250 $ 1,525 - $ 5,966,971
Termination Date- 811/2024 B/112024 9/1/2021 8/1/2019 - 9/30/2023 11/17/2013 11/17/2013 8/1/2016 8/1/2024 8/1/2024 7/7/2012 7/7/2012 - -
2011-12 ROPS1 Jan-12 1,635,738 1 748,088 410,350 2,794,176 366,626 500 5DO - 1,537 848 250 1,525 3,OOD 376,786
2012-13 ROPSz Jun-12 1,315,369 599,044 404,564 370,175 2,689,152 367,896 1,537 - 250 1,525 - 371,708
ROPS3 Jan-13 1640,938 743,289 404,932 427,512 3,216,671 1,043,146 500 500 528,754 1 1,537 848 25D 1,525 - 1,577,060
2013-14 Jun-13 - - - - - 734,936 - - - - - - - - - 734,936
Jan-14 1,638,038 747,364 404,419 447,822 3,237,642 - 500 5DD - 1,537 848 25D 1,525 - 5,160
2014-15 Jun-14 - - - - - 734,936 - - - - - - - - 734,936
Jan-15 1,627,138 749,824 405,367 466,072 3,248,400 - 500 - 50D - 1,537 848 250 1,525 - 5,160
2015-16 Jun-15 - - - - - 734,936 - - - - - - - - 734,936
Jan-16 1,644,750 75D,617 405,324 487,272 3,287,963 5D0 5DO - 1,537 848 25D 1,525 - 5,160
2016-17 Jun-16 - - - - - 734,936, - - - - - - - - 734,936
Jan-17 1,64D,75D 749,699 4D5,750 505,834 3,3D2,033 - 500 500 - 1,537 848 250 1,525 - 5,160
2017-18 Jun-17 - - - - - 734,936 - - - - - - - - 734,936
Jan-18 1,639,000 752,155 4D5,265 522,448 3,318,868 - 50D 5DD - 1,537 848 25D 1,525 - 5,160
2018-19 Jun-18 - - - - - - - - - - - - -
Jan-19 1,649,250 753,ODO 406,237 537,16D 3,345,647 - 5D0 50D - 1,537 848 250 1,525 - 5,160
2019-20 Jun-19 - - - - - - - - _
Jan-20 1,D10,750 461,75D 4D6,166 - 1,878,666 - 50D 5D0 - 1,537 848 25D 1,525 - 5,160
2020-21 Jun-20 - - - - - - - - - - -
Jan-21 1,010,750 458,5DD 4D6,175 - 1,875,425 - 5DD 500 - 1,537 848 - 25D 1,525 - 5,160
2021-22 Jun-21 - - - - - - - - - - - - - -
Jan-22 1003,750 464,500 - - 1,468,250 - 50D 5DO - 1,537 848 250 1,525 - 5,160
2022-23 Jun-22 - - - - - - - - - -
Jan-23 1,OD5,OD0 464,250 - - 1,469,25D - 500 50D - 1,537 848 250 1,525 - 5,160
2023-24 Jun-23 - - - - - - - - - - - -
Jan-24 819,DOD 378,ODO - - 1,197,000 - 5D0 500 - 1,537 646 250 1,525 - 5,16D
2024-25 Jun-24 - - - - - - - - - - - - -
Jan-25 799,5D0 369,DOD - - 1,166,50D - 500 50D - 1,537 848 250 1,525 - 5,160
2025-26 Jun-25 - - - - - - - - - -
Jan-26 - - - - - - - - - - - - - -
2026-27 Jun-26 - - - - - - - - - - -
Source:ROPS3,ROPS2 and ROPS1 20
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Table 3
Cash st-Enforce Funding ExhibltC-4(Continued)
Forecast-Enforceable
Obligations Based on ROBS 3
Successor Agency to
Huntington Beach
Redevelopment Agency 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
ROPS3 Line Item 3.00 4.00 12.00 13.00 2.00 5.00 5.00 7.00 8.00 9.00 10.00 11.00 ROPS1
Enforceable Obligation Oescription Emerald Cove 2010 HUD Sec 108 ROPS1:2002 TAB
Ser A Lease Rev Infrastructure Loan Hyatt Regency 2002 TAB Arbitrage 1999 TAB Arbitrage 2002 TAB IRS 2002 TAB 1999 TAB AMBAC Master
Refunding Bonds Hyatt Hilton Bank of DDA Robert Mayer Compliance Rebate Compliance Rebala Arbitrage Rebate 2002 TAB Fiscal 1999 TAB Fiscal Continuing Continuing Repurchase
2002 TAB 1999 TAB (Scenario 2) NY Mellon Bond Debt Service Corp Calculation Calculation Payment Agent Fee Agent Fee Disclosure Disclosure Agreement Bond Fees
Amount Outstanding per ROPS3 $ 16,329,113 $ 7,472,947 $ 3,649,634 $ 3,025,000 $ 30,476,694 $ 5,433,057 $ 500 $ 500 $ 528,754 $ 1,537 $ 84B $ 250 $ 1,525 — $ 5,966,971
Termination Data 8/1/2024 8/1/2024 9/1/2021 8/1/2019 — 9/30/2023 11/17/2013 11/17/2013 8/1/2016 8/1/2024 8/1/2024 7(7/2012 7(7/2012 —
Jan-27 - - - - - - - - - - - - - -
2027-28 Jun-27
Jan-28 - - - - - - - - - - - - -
2028-29 Jun-28
Jan-29 - - - - - - - - - - - - - -
2020-30 Jun-29 -
Jan-30
2030-31 Jun-30
Jan-31
2031-32 Jun-31
Jan-32
2032-33 Jun-32
Jan-33 - - - - - - - - - - - - - -
2033-34 Jrm-33
Jan-34
2034-35 Jun-34
Jan-35 - - - - - - - - - - - - - -
2035-36 Jun-35
Jan-36
2036-37 Jun-36
Jan-37
2037-38 Jun-37
Jan-38
TOTALS 20,1379,720 9,189,079 4,054,198 4,174,645 37,497,642 6,454,348 7,500 7,0013 528,764 23,066 11,B72 3,750 22,1375 3,000 6,062,154
Source:ROPS3,ROPS2 and ROPS1
Prepared by Keyser Marston Associates,Inc. 21
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Table 3
Cash Flowl RPTTF Funding Exhibit C-4(Continued)
Forecast-Enforceable
Obligations Based on ROPS 3
Successor Agency to
Huntington Beach
Redevelopment Agency 16 17 18 19 20 21 22 23 24 25 26 27 28 29
ROPS3 Line Item 1.00 14.00 15.00 16.00 21.00 29.00 30.00 32.00 ROPS1 19.00 20.00 ROPS5
Land Sale Emerald
Enforceable Obligation Description Cove OPA Loan Strand Hotel& Bella Terra Ph 11 Operative ROPS1:City Certificate of
Repayment Mixed Use Parking Pacific City OPA Abdelmudi OPA Bella Terra Parking Affordable Hsg Agreement Operative Completion
Disallowed Pending&Infrastructure CIM Strand Additional Makar Properties& Rent Differential Infrastructure PTw Agreement(BTDJM Huntington Beach Agreements Subtotal of Other SERAF Debt SERAF Debt City GF Loan Total Other Loan
Cart of Completion Group&KBB Parking CIM Group KBB Agreement Sharing &KBB) RP(Disallowed) (Various) Loan Repayments Obligation 2009 Obligation 2010 Repayments Repayments
Amount Outstanding per ROPS3 $ 5,676,433 $ 13,344,723 $ 1,039,285 $ 5,520000 $ 6,000 $ 13,847,382 $ 27,438,83D $ 283,211 - $ 67,155,864 $ 3,331,300 $ 703,413 $ 17,512,346 $ 88,702,922
Termination Date 10/l/2030 9130/2033 9/30/2033 FY 2030-31 12/312017 9/302025 7/1/2036 10/l/2030 - - FY 2014-15 FY 2015-16 - -
2D11-12 ROPS1 Jan-12 677,903 49,576 4,812 21,219 - 753,510 - - - 753,510
2012-13 ROPS2 Jun-12 685,403 49,576 1 20,000 6,000 1,277,600 1 7,2DO - - 2,045,779 - - - 2,045,779
ROPS3 Jan-13 7D2,903 49,576 2D,OOD 6,000 1,210,008 10,000 - 1,998,487 - - 1,998,487
2013-14 Jun-13 - 7D2,903 49,576 - 6,ODo 183,941 - - - 942,420 942,420
- - 6,000 1,490,008 - - - 1496,008 1,526,505 - - 3,022,513
2014-15 Jun-14 - 702,9D3 49,576 - 6,000 1,520,724 884,301 - - 3,163,504 - - - - 3,163,504
Jan-15 - - - - 5,00D - - - - 6,000 1,841,468 443,750 - 2,291,218
2015-16 Jurr 15 - 702,903 49,576 - 6,000 1,552,055 - - - 2,310,534 - 272,221 - 2,582,755
Jan-16 - - - - 6,OOD - 1,106,119 - - 1,112,119 - - - 1,112,119
2016-17 J on-16 - 702,903 49,576 - 6,000 1,584,013 - - - 2,342,492 - - - 2,342,492
Jan-17 - - - - 6,000 - 1,130,433 - - 1,136,433 - - - 1,136,433
2017-18 Jun-17 - 702,903 49,576 - 6,ODO 1,616,610 - - - 2,375,089 - - - 2,375,089
Jan-18 - - - - - - 1,155,233 - - 1,155,233 - - - 1,155,233
2D18-19 Jun-18 - 702,903 49,576 - - 1,649,858 - - - 2,402,337 - - - 2,4D2,337
Jan-19 - - - - - - 1,180,628 - - 1,180,528 - - - 1,180,528
2019-20 Jun-19 - 702,903 49,576 - - 1,683,772 - - - 2,436,251 - - - 2,436,251
Jan-20 - - - - - - 1,206,330 - - 1,206,330 - - - 1,2D6,330
2020-21 Jun-20 - 702,9D3 49,576 - - 1,718,364 - - - 2,47D,843 - - - 2,470,843
Jan-21 - - - - - - 1,232,648 - - 1,232,648 - - - 1,232,648
2D21-22 Jun-21 - 702,903 49,576 - - 1,753,648 - - - 2,506,127 - - - 2,506,127
Jan-22 - - - - - - 1,259,492 - - 1,259,492 - - - 1,259,492
2D22-23 Jun-22 - 702,9D3 49,576 - - 1,789,637 - - - 2,542,116 - - - 2,542,116
Jan-23 - - - - - - 1,286,873 - - 1,286,873 - - - 1,286,873
2023-24 Jun-23 - 702,903 49,576 - - 1,826,346 - - - 2,578,825 - - - 2,578,825
Jan-24 - - - - - - 1,314,802 - - 1,314,802 - - - 1,314,802
2D24-25 Jun-24 - 702,903 49,576 - - 1,863,790 - - - 2,616,269 - - - 2,616,269
Jan-25 - - - - - - 1,343,289 - - 1,343,289 - - - 1,343,289
2025-26 Jun-25 - 702,903 49,576 - - 1,268,049 - - - 2,020,528 - - - 2,020,528
Jan-26 - - - - - - 1,372,346 - - 1,372,346 - - - 1,372,346
2026-27 Jun-26 - 702,9D3 49,576 - - - - - - 752,479 - - - 762,479
Source:ROPS3,ROPS2 and ROPS1 22
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Table 3
Cash Flow/RPTTF Funding Exhibit C-4(Continued)
Forecast-Enforceable
Obligations Based on ROPS 3
Successor Agency to
Huntington Beach
Redevelopment Agency 16 17 18 19 20 21 22 23 24 25 26 27 28 29
ROPS3 Line Item 1.00 14.00 15.00 16.00 21.00 29.00 30.00 32.00 ROPS1 19.00 20.00 ROPSS
Land Sale Emerald
Enforceable Obligation Description Cove OPA Loan Strand Hotel& Bella Terra Ph II Operative ROPSh City Certificate of
Repayment Mixed Use Parking Pacific City OPA Abdelmudi OPA Bella Terra Parking Affordable Hsg Agreement Operative Completion
Disallowed Pending &Infrastructure CIM Strand Additional Maker Properties& Rent Differential Infrastructure Pl ax Agreement(BIUJM Huntington Beach Agreements Subtotal of Other SERAF Debt SERAF Debt City GF Loan Total Other Loan
Cert of Completion Group&KBB Parking DIM Group KBB Agreement Sharing &KBB) RP(Disallowed) (Various) Loan Repayments Obligation 2009 Obligation 2010 Repayments Repayments
Amount Outstanding per ROPS3 $ 5,676,433 $ 13,344,723 $ 1,039,285 $ 5,520,000 $ 6,000 $ 13,847,382 $ 27,438,B30 $ 283,211 - $ 67,155,864 $ 3,331,300 $ 703,413 $ 17,512,346 $ 88,702,922
Termination Date 10/l/2030 9/30/2033 9I30/2033 FY 2030-31 12/31/2017 9/30/2025 7/l/2036 10/l/2030 - - FY 2014-15 FY 2015-16 - -
Jan-27 - - - - - - 1,401,984 - - 1,401,984 - - - 1,401,984
2027-26 Jun-27 - 702,903 49,576 - - - - - - 752,479 - - - 752,479
Jan-28 - - - - - - 1,432,215 - - 1,432,215 - - - 1,432,215
2028-29 Jun-28 - 7D2,903 49,576 - - - - - - 752,479 - - - 752,479
Jan-29 - - - - - - 1,463,050 - - 1,463,050 - - - 1,463,050
2029-30 Jun-29 - 702,903 49,576 - - - - - - 752,479 - - - 752,479
Jan-30 - - - - - - 1,494,503 - - 1,494,503 - - - 1,494,503
2030-31 Jun-30 - 702,903 49,576 - - - - - - 752,479 - - - 752,479
Jan-31 - - - - - - 1,526,584 - - 1,526,584 - - - 1,526,584
2031-32 Jun-31 - 702,903 49,576 - - - - - - 752,479 - - - 752,479
Jan-32 - - - - - - 1,559,3D7 - - 1,559,307 - - - 1,559,307
2032-33 Jun-32 - 702,903 49,576 - - - - - - 752,479 - - - 752,479
Jan-33 - - - - - - 1,592,684 - - 1,592,684 - - - 1,592,684
2033-34 Jun-33 - 702,903 47,772 - - - - - - 750,675 - - - 75D,675
Jan-34 - - - - - - 532,514 - - 532,514 - - - 532,514
2034-35 Jun-34 - - - _ _ _ _ _ _ _
Jan-35
2035-36 Jun-35
Jan-36
2036-37 Jun-36
Jan-37
2037-38 Jun-37
Jan-38 - - - - _ _ _ _
TOTALS - 16,827,172 1,188,020 40,000 7D,812 23,988,423 25,492,435 21,219 - 67,628,081 3,367,973 715,971 1 71,712,0 51
Source:ROPS3,ROPS2 and ROPS1 23
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Table 3
Cash Flow/RPTTF Funding Exhibit C-4(Continued)
Forecast-Enforceable
Obligations Based on ROES 3
Successor Agency to
Huntington Beach
Redevelopment Agency 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44
RDPS3 Line Item 17.00 18.00 22.00 23.00 24.00 25.00 26.00 27.00 28.00 31.00 33.00 34.00 35.00 36.00 37.00
Convenant
Affordable Hsg Enforcement
Enforceable Obligation Description Pacific City Very Compliance Affordable Hsg Public Agency Obligation for Successor Agency Assessment AES Employee Employee Employee Employee
Low Income Units Amerinational Jessica Latham Unfunded CaIPERS Unfunded Suppl Retirement Systems Unfunded DPEB Unused Employee Compliance per PTax Valuation Van Termination/Layoff Termination(Layoff Termination(Layoff Termination/Layoff
Disallowed Disallowed Disallowed Pension(Increased Retirement (PARS)Notes Liabilities CaIPERS General Leave HSC 33433 Tierra Pierside Pavilion Horn Consulting Costs-Dissolution Costs-Dissolution Costs-Dissolution Costs-Dissolution
(Scenario 1) (Scenario 3) (Scenario 3) 5%per FY) Liabilities US Bank Payable &CERBT Earned&Vested West OPA Disallowed of RDA of RDA of RDA of RDA
Amount Outstanding per RDPS3 $ 6,500,000 $ 75,000 $ 30,000 $ 2,674,172 $ 618,160 $ 60,035 $ 252,593 $ 124,391 $ 30,000 $ 4,000 $ 5,000 $ 16,393 $ 24,483 $ 75,328 $ 9,728
Termination Date FY 2030-31 712012013 212012013 NA NA 10110/2014 NA NA 4/30/2010 NA 312112012 9130/2011 913012011 12123/2011 913012011
2011-12 ROPS1 Jan-12 - 75,000 0 0 0 - 1 0 10,DOD - 5,000 - - - -
2012-13 ROPS2 Jun-12 37,500 15,000 36,762 9,408 19,965 1 2,880 - 29,675 4,000 2,500 - - - -
ROPS3 Jan-13 6,500,000 95,476 28,952 19,965 6,222 11,460 15,000 4,000 - 16,393 1 24,483 75,328 9,728
2013-14 Jun-13 - - - 10D,250 28,952 19,965 6,222 11,460 - 4,000 - - - - -
Jan-14 - - - - - 19,965 - - - - - - - - -
2014-15 Jun-14 - - - - 105,262 28,952 19,965 6,222 11,460 - 4,000 - - - - -
Jan-15 - - - - - - - - 15,000 - - - - -
2015-16 Jun-15 - - - 110,525 28,952 - 6,222 11,460 - - - - - - -
Jan-16 - - - - - - - - - - - - -
2016-17 Jun-16 - - - 116,052 28,952 - 6,222 11,460 - - - - - - -
Jan-17 - - - - - - - - - - - - - -
2017-18 Jun-17 - - - 121,854 28.952 - 6,222 11,460 - - - - - - -
Jan-18 _ _ _ _ _ _ _ _ 15,000
2018-19 Jun-18 - - - 127,947 28,952 - 6,222 11,460 - - - - - - -
Jan-19 - - - - - - - - - - - - -
2019-20 Jun-19 - - - 134,344 28,952 - 6,222 11,460 - - - - - - -
Jan-20 - - - - - - - - - - - -- -
2020-21 Jun-20 - - - 141,062 28,952 - 6,222 11,460 - - - - - - -
Jan-21 - - - - - - - - 15,000 - - - - - - -
2021-22 Jun-21 - - - 148,115 28,952 - 6,222 11,460 - - - - - - -
Jan-22 - - - - - - - - - - - - - - -
2022-23 Jun-22 - - - 155,520 28,952 - 6,222 11,460 - - - - - - -
Jan-23 _ _ _ _ _ _ _ _
2023-24 Jun-23 - - - 163,296 28,952 - 6,222 11,460 - - - - - - -
Jan-24 - - - - - - - - 15,000 - - - - - -
2024-25 Jun-24 - - - 171,461 28,952 - 6,222 11,460 - - - - - - -
Jan-25 - - - - - - - - - - - - -
2025-26 Jun-25 - - - 180,034 28,952 - 6,222 - 11,460 - - - - - - -
Jan-26 - - - - - - - - - - - - - - -
2026-27 Jun-26 - - - 189,036 28,952 - 6,222 11,460 - - - - - - -
Source:RDPS3,ROPS2 and ROPS1 24
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Table 3
Cash Flow/RPTTF Funding Exhibit C-4(COItt1IlL10C1)
Forecast-Enforceable
Obligations Based on ROPS 3
Successor Agency to
Huntington Beach
Redevelopment Agency 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44
ROPS3 Line Item 17.00 18.00 22.00 23.00 24.00 25.00 26.00 27.00 28.00 31.00 33.00 34.00 35.00 36.00 37.00
Convenant
Affordable Hog Enforcement
Enforceable Obligation Description Pacific City Very Compliance Affordable Hsg Public Agency Obligation for Successor Agency Assessment AES Employee Employee Employee Employee
Low Income Units Amerinalional Jessica Latham Unfunded CaIPERS Unfunded Suppl Retirement Systems Unfunded OPEB Unused Employee Compliance per PTax Valualion Van Termination/Layoff Termination/Layoff Termination/Layoff Termination/Layoff
Disallowed Disallowed Disallowed Pension(increased Retirement (PARS)Notes Liabilities CaIPERS General Leave HSC 33433 Tierra Pierside Pavilion Horn Consulting Costs-Dissolution Costs-Dissolulion Costs-Dissolution Costs-Dissolution
(Scenario 1) (Scenario 3) (Scenario 3) 5%per FY) Liabilities US Bank Payable &CERBT Earned&Vested West OPA Disallowed of RDA of RDA of RDA of RDA
Amount Outstanding per ROPS3 $ 8,500,000 $ 75,000 $ 30,000 $ 2,674,172 $ 618,160 $ 60,035 $ 252,593 $ 124,391 $ 30,000 $ 4,000 $ 5,000 $ 16,393 $ 24,483 $ 75,328 $ 9,728
Termination Dale FY 2030-31 7/20/2013 2/20/2013 NA NA 10/10/2014 NA NA 4/30/2010 NA 3/21/2012 9/302011 9/30/2011 12/23/2011 9/30/2011
Jan-27 - - - - _ _
- - 15,1300 - - - _ _ -
2027-28 Jun-27 - - - 198,488 28,952 - 6,222 11,46D -
Jan-28 - - - - - - - - - - - - - - -
2028-29 Jun-28 - - - 208,412 28,952 - 6,222 11,460
Jan-29 _ _ _ - _
2029-30 Jun-29 - - - 218,833 28,952 - 6,222 11,460 -
Jan-30 - - - - - - - - 15,000
2030-31 Jun-313 - - - 229,774 28,952 - 6,222 11,460 -
Jan-31 _ _ _ _ _ _ _
2031-32 Jun-31 - - - 241,263 28,952 - 6,222 11,460
Jan-32 _ _ _ _ _
2032-33 Jun-32 - - - 253,326 28,952 - 6,222 11,46D
Jan-33
2033-34 Jun-33 - - - 265,993 28,952 - 6,222 11,460
Jan-34 _ _ _ _ _
2034-35 Jun-34 - - - 279,292 28,952 - 6,222 11,46D
Jan-35 - - - - -
2035-36 Jun-35 - - - 293,257 28,952 - 6,222 11,460
Jan-36 - - - _ - _ - - 15,000
2036-37 Jun-36 - - - 307,920 28,952 - 6,222 11,460 -
Jan-37 - - - - - - - - - - - - -
2037-38 Jun-37 - - - 323,316 28,952 - 6,222 11,460
Jan-38 _ _ _ _ _ _
TOTALS 6500,000 112,500 15,000 4,916,870 762,160 99,825 164,652 297,960 174,675 16,000 T500 16,393 24,483 75,328 9,728
Source:ROPS3,ROPS2 and ROPS1
Prepared by Keyser Marston Associates,Inc. 25
Filename:HB_CF_2013-01-09_Scenario2:Expenses:1/9/2013:GSH:Page 6 of 16
Table 3
Cash Flow/RPTTF Funding Exhibit C-4(Continued)
Forecast-Enforceable
Obligations Based on ROPS 3
Successor Agency to
Huntington Beach
Redevelopment Agency 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59
ROPS3 Line Item ROPS4 3B.00 39.00 40.00 ROPS1&2 ROPS1&2 ROPS1&2 ROPS2 ROPS2 ROPS1 ROPS1&2 ROPS1 ROPS1 ROPS1
Legal Expenses SA Econ Analysis
Compliance Services SA ROPS1&ROPS2: ROP31: ROP81:Affordable
Enforceable Obligation Description AB1X26 and Compliance Covenant ROPS2:Covenant Independent Hog Compliance
Unemplyment Litigation Expenses AB1484 Kane AB1X26 and Monitoring ROPS1&ROP32: ROPS1&ROP32: Enforcement for ROPS2:SA Financial Statement CRL 33413(b)(4) ROPS1:MOD
Costs-Dissolution City of Palmdale Balmer AB1484 KMA Obligations of Hsg Hsg Auth Covenant Affordable Hsg Affordable Hsg- Compliance Nagaski ROP31:SA ROPS1&ROPS2: &Audit Macias Gini and 3349(a)(2)&(3)Bargaining Unit Luis Subtotal of Other
of ROA etal v Matosantos Disallowed Disallowed Auth Monitoring KMA Compliance KBB Grace Jones Esq &Assoc Compliance KMA Wildlife Care Center &O'Connell KBB Gomez Costs
Amount Outstanding per ROPS3 - $ 13,993 $ 150,000 $ 200,000 - - - - -- - - - - - $ 10,863,276
Termination Date - 71812015 718/2015 611512013 - - - - - - - - - -
2011-12 ROPS1 Jan-12 - - - - 229,801 150,000 150,000 40,236 3,000 0 27,841 0 0 1,500 692,378
2012-13 ROPS2 Jun-12 - 153,202 75 00n 75,000 - 13,000 - - - - 473,892
ROPS3 Jan-13 13,993 - - - - - - - - 6,821,000
2013-14 Jun-13 11,700 - - - - - - - 20,000 - - - - - 202,549
Jan-14 - - - - - - - - 15,000 - - - - - 34,965
2014-15 Jun-14 - - - - - - - - - - - - - - 175,861
Jan-15 - - - - - - - - - - - - - - 15,000
2015-16 Jun-15 - - - - - - - - - - - - - - 157,159
Jan-16
2016-17 Jun-16 - - - - - - - - - - - - - - 162,686
Jan-17 - - - - - - - - - - - - - - -
2017-18 Jun-17 - - - - - - - - - - - - - - 168,488
Jan-18 - - - - - - - - - - - - - - 15,000
2018-19 Jun-18 - - - - - - - - - - - - - - 174,581
Jan-19 - - - - - - - - - - - - - -
2019-20 Jun-19 - - - - - - - - - - - - - - 160,976
Jan-20 - - - - - - - - - - - - - - -
2020-21 Jun-20 - - - - - - - - - - - - - - 187,696
Jan-21 - - - - - - - - - - - - - - 15,000
2021-22 Jun-21 - - - - - - - - - - - - - - 194,749
Jan-22 - - - - - - - - - - - - - -
2022-23 Jun-22 - - - - - - - - - - - - - - 202,154
Jan-23
2023-24 Jun-23 - - - - - - - - - - - - - - 209,930
Jan-24 - - - - - - - - - - - - - - 15,000
2024-25 Jun-24 - - - - - - - - - - - - - - 218,095
Jan-25 - - - - - - - - - - - - - - -
2025-26 Jun-25 - - - - - - - - - - - - - - 226,668
Jan-26
2026-27 Jun-26 - - - - - - - - - - - - - - 235,670
Source:ROPS3,ROPS2 and ROPS1 26
Prepared by Keyser Marston Associates,Inc.
Filename:HB_CF_2013-01-09_Scenario2:Expenses:1/9/2013:GSH:Page 7 of 16
Table 3
Cash Flow/RPTTFunding Exhibit C-4(Continued)
Forecast-Enforceforce able
Obligations Based on ROPS 3
Successor Agency to
Huntington Beach
Redevelopment Agency 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59
ROPS3 Line Item ROPS4 3B.00 39.00 40.00 ROPS1&2 ROPS1&2 ROPS1&2 ROPS2 ROPS2 ROPS1 ROPS1&2 ROPS1 ROPS1 ROPS1
Legal Expenses SA Econ Analysis
Compliance Services SA ROPS1&ROPS2, ROPS1: ROPS1,Affordable
Enforceable Obligation Description AB1X26 and Compliance Covenant ROPS2:Covenant Independent Hsg Compliance
Unemplyment Litigation Expenses AB1484 Kane AB1X26 and Monitoring ROPS1&ROPS2: ROPS1&ROPS2: Enforcement for ROPS2:SA Financial Statement CRL 33413(b)(4) ROPS1:MOD
Costs-Dissolution City of Palmdale Ballmer AB1484 KMA Obligations of Hsg Hsg Auth Covenant Affordable lisg Affordable Hsg- Compliance Nagaski ROPS1:SA ROPS1&ROPS2: &Audit Macias Gini and 3349(a)(2)&(3)Bargaining Unit Luis Subtotal of Other
of RDA elal v Malosanlos Disallowed Disallowed Auth Monitoring KMA Compliance KBB Grace Jones Esq &Assoc Compliance KMA Wildlife Care Center &O'Connell KBE Gomez Costs
Amount Outstanding per ROPS3 - $ 13,993 $ 150,000 $ 200,000 - - - _ _ _ -_
- - - $ 10,863,276
Termination Date - 7/8/2015 7/8/2015 6/15/2013
- - _ _ _ _ _ - - - - - 15,000
2027-28 Jun-27 - - _ _ _ _ _ _ _ _ _ _ _ - 245,122
2028-29 Jun-28 - - _ _ _
- - - - - - - - - 255,046
2029-30 Jun-29 - - - - _ _
- - - - - - - - 265,467
15,000
2030-31 Jun-30 - - - - _ _ _ _ _ _ _ _ - - 276,408
2031-32 Jun-31 - - - - _ _ _ _ _ - - - - - 287,897
2032-33 Jun-32 - - _ _ _
- - - - - - - - - 299,960
15,000
2033-34 Jun-33 - - - _ _ _ - _ - _ _ - - - 312,627
2034-35 Jun-34 - - _ _ - _
- - - - - - - - 325,926
-
2035-36 Jun-35 - - - - _ _
- - - - - - - 339,891
15,000
2036-37 Jun-36 - - - - _ _ _ _ _ _ _ _ _ - 354,554
2037-36 Jun-37 - - _ _ _ _
- - - - - - - - 369,950
TOTALS 11,700 13,993 - - 383,003 225,000 225,000 40,236 51,000 - 27,841 - - 1,500
Source:ROPS3,ROPS2 and ROPS1 2�
Prepared by Keyser Marston Associates,Inc.
Filename:HB_CF_2013-01-09_Scenario2:Expenses:1/9/2013:GSH:Page 8 of 16
Table 3
Cash Flow/RPTTF Funding Exhibit C-4(Continued)
Forecast-Enforceable
Obligations Based on ROPS 3
Successor Agency to
Huntington Beach
Redevelopment Agency 60 61 62 63 64 65 66 67 68 69 70 71 72
ROPS3 Line Item 41.00 42.00 43.00 44.00 45.00 46.00 47.00 48.00 49.00
Pierside Hotel
Huntington Center Development of Third Block Wesl Second 8lock Alley Retail&Parking
Enforceable Obligation Description Land Right of Way Main Pier RP Ph II Downtown Main Pier Relocation,Properly&Street Imp Project Strand Project Structure Relocation Waterfront Comml Strand Project
Acq Costs Land Acquisition Land Acq Acq&Project Costs Property Acq Relocation Costs Costs Disallowed Master Site Plan Property Acq Costs
Disallowed Pending Disallowed Pending Disallowed Pending Disallowed Pending Disallowed Pending Disallowed Pending Pending Carl of Disallwed Pending Disallowed Pending Unpaid Pass
Cart of Completion Cart of Completion Cerl of Completion Cart of Completion Cart of Completion. Cart of Completion Completion Cart of Completion Cart of Completion Other Costs Throughs Admin Allowance Costs Subtotal
Amount Outstanding per ROPS3 $ 4,416,384 $ 5,150,543 $ 3,555,243 $ 14,971,453 $ 345,208 $ 87,501 $ 407,212 $ 16,960,908 $ 14,475,988 $ 71,233,716 $ - $ 357,464 $ 195,737,767
Termination Date 10/l/2030 10/l/2030 10/l/2030 10/l/2030 10/l/2030 10/l/2030 10/l/2030 10/1I2030 10/l/2030 - - - -
2011-12 ROPS1 Jan-12 - - - - - - - - - 692,378 2,653,OOD 2500D0 7,519,850
2012-13 ROPS2 Jun-12 - 473,892 - - 5,580,531
ROPS3 Jan-13 - 6,821,000 - 304,106 13;917,324
2013-14 Jun-13 2D2,549 - 125,000 2,004,905
Jan-14 - - - - - - - - - 34,965 - 143,213 6,443,493
2014-15 Jun-14 175,861 125,000 4,199,301
Jan-15 - - - - - - - - - 15,000 - 125,000 5,684,778
2015-16 Jun-15 6,845 T983 5,510 23,205 535 136 631 26,289 22,437 250,730 - 125,000 3,693,422
Jan-16 100,444 117,142 80,859 340,504 7,851 1,990 9,261 385,752 329,236 1,373,040 - 132,157 5,910,440
2016-17 Jun-16 21,680 25,284 17,452 73,494 1,695 430 1,999 83,260 71,062 459,040 125,000 3,661,468
Jan-17 99,287 115,793 79,928 336,583 7,761 1,967 9,155 381,309 325,444 1,357,226 - 133,309 5,934,160
2e17-18 Jun-17 26,467 30,867 21,306 89,723 2,069 524 2,440 101,645 86,753 530,283 - 125,000 3,765,308
Jan-18 109,261 127.424 87,957 370,394 8,540 2,165 10,074 419,613 358,136 1,508,565 - 134,828 6,122,653
2018-19 Jun-18 46,997 54,810 37,833 159,319 3,674 931 4,333 180,490 154,046 817,014 - 125,000 3,344,351
Jan-19 108,144 126,121 87,057 366,606 8,453 2,143 9,971 415,321 354,473 1,478,290 - 135,940 6,145,565
2019-20 Jun-19 45,817 53,434 36,884 155,320 3,581 908 4,225 175,959 150,180 807,286 125,000 3,368,537
Jan-20 150,636 175,677 121,264 510,652 11,774 2,985 13,889 578,509 493,752 2,059,138 - 125,000 5,274,294
2020-21 Jun-20 44,609 52,024 35,910 151,222 3,487 884 4,113 171,317 146,218 797,480 - 125,000 3,393,323
Jan-21 149,521 174,377 120,367 506,875 11,687 - 2,962 13,787 574,230 490,100 2,058,906 - 125,000 5,297,139
2021-22 Jun-21 \43,370 50,579 34,913 147,023 3,390 859 3,999 166,559 142,157 787,598 - 125,000 3,418,725
Jan-22 161,D90 187,868 129,679 546,090 12,592 3,192 14,853 618,657 528,018 2,202,D38 - 125,000 5,059,940
2022-23 Jun-22 42,100 49,098 33,891 142,718 3,291 834 3,882 161,683 137,995 777,646 - 125,D00 3,444,762
Jan-23 160,259 186,900 129,011 543,275 12,527 3,175 14,777 615,467 525,296 2,190,686 - 125,000 5,076,970
2023-24 Jun-23 40,798 47,580 32,843 138,305 3,189 808 3,762 156,684 133,728 767,628 - 125,000 3,471,453
Jan-24 166,97D 194,726 134,412 566,023 13,051 3,308 15,395 641,238 547,291 2,297,415 - 125,O1D0 4,939,377
2024-25 Jun-24 39,464 46,024 31,769 133,781 3,085 T82 3,639 151,558 129,353 757,549 - 125,000 3,498,818
Jan-25 167,409 195,238 134,766 587,512 13,086 3,317 15,438 642,925 548,731 2,288,420 - 125,000 4,930,369
2025-26 Jun-25 56,645 86,062 45,600 192,026 4,428 1,122 5,223 217,543 185,671 1,000,989 - 125,000 3,146,517
Jan-26 200,902 234,299 181,729 6B1,054 15,704 3,980 18,524 771,555 658,515 2,746,262 - 125,000 4,243,608
2026-27 Jun-26 93,487 109,028 75,258 316,920 7,307 1,852 8,620 359,034 306,432 1,513,610 125,000 2,391,089
Source:ROPS3,ROPS2 and ROPS1
Prepared by Keyser Marston Associates,Inc. 28
Filename:HB_CF_2013-01-09_Scenario2:Expenses:1/9/2013:GSH:Page 9 of 16
Table 3
Cash Flow/RPTTF Funding EX}llblt C-4(COI1t111t1Cd)
Forecast-Enforceable
Obligations Based on ROPS 3
Successor Agency to
Huntington Beach
Redevelopment Agency 60 61 62 63 64 65 66 67 68 69 70 71 72
ROPS3 Line Vern 41.00 42.00 43.00 44.00 45.00 46.00 47.00 48.00 49.00
Pierside Hotel
Huntington Center Development of Third Block West Second Block Alley Retail&Parking
Enforceable Obligation Description Land Right of Way Main Pier RP Ph II Downtown Main Pier Relocation,Property&Street Imp Project Strand Project Structure Relocation Waterfront Comml Strand Project
Acq Costs Land Acquisition Land Acq Acq&Project Costs Property Acq Relocation Costs Costs Disallowed Master Site Plan Property Acq Costs
Disallowed Pending Disallowed Pending Disallowed Pending Disallowed Pending Disallowed Pending Disallowed Pending Pending Cart of Disallwed Pending Disallowed Pending Unpaid Pass
Cart of Completion Cart of Completion Cart of Completion Cart of Completion Cart of Completion Cart of Completion Completion Cart of Completion Cart of Completion Other Costs Throughs Accom Allowance Costs Subtotal
Amount Outstanding per ROPS3 $ 4,416,384 $ 5,150,543 $ 3,555,243 $ 14,971,453 $ 345,208 $ 87,501 $ 407,212 $ 16,960,908 $ 14,475,988 $ 71,233,716 $ - $ 357,464 $ 196,731,161
Termination Date 10/l/2030 - 10/l/2030 10/1030 10/112030 10/l/2030 10/1/2030 1011/2030 10/112030 1nPV2030 - - -
Jan-27 199,696 232,776 160,677 676,626 15,601 3,966 18,404 766,638 654,234 2,743,406 - 126,000 4,270,390
2027-28 Jun-27 93,211 108,706 75,036 315,983 7,286 1,847 8,594 357,971 305,526 1,619,281 - 126,000 2,396,760
Jan-28 199,150 232,266 160,318 676,115 15,567 3,946 18,363 764,826 652,773 2,722,314 - 125,000 4,279,529
2028-29 Jun-28 92,920 108,367 74,802 314,998 7,263 1,841 8,568 356,856 304,574 1,525,236 - 125,000 2,402,715
Jan-29 198,248 231,204 169,592 672,056 15,496 3,928 18,279 761,361 649,815 2,709,979 - 126,000 4,298,030
2029-30 Jun-29 92,615 108,011 74,557 313,965 7,239 1,835 8,540 355,685 303,574 1,531,488 - 126,000 2,408,967
Jan-30 196,889 229,618 168,498 667,448 15,390 3,901 18,154 766,141 645,360 2,706,398 - 125,000 4,325,901
2030-31 Jun-30 92,295 107,638 74,299 312,879 7,214 1,829 8,510 354,456 302,626 1,538,053 - 126,000 2,415,532
Jan-31 196,389 229,036 158,095 666,764 15,351 3,891 18,108 754,221 643,722 2,684,566 - 126,000 4,336,150
2031-32 Jun-31 91,959 107,246 74,028 311,739 7,188 1,822 8,479 363,164 301,423 1,544,946 - 125,000 2,422,425
Jan-32 195,431 227.919 157,325 662,508 15,276 3,872 18,020 750,544 640,583 2,671,477 - 125,000 4,355,784
2032-33 Jun-32 91,606 106,834 73,744 310,543 7,160 1,815 8,447 351,809 300,266 1,552,184 - 125,000 2,429,663
Jan-33 194,016 226,268 156,185 657,709 15,165 3,844 17,889 745,107 635,943 2,667,126 - 125,000 4,384,810
2033-34 Jun-33 91,288 106,464 73,488 309,465 7,136 1,809 8,417 350,688 299,224 1,560,506 - 125,000 2,436,181
Jan-34 225,477 262.959 181,512 764,363 17,624 4,467 20,790 865,934 739,067 3,082,194 - 125,000 3,739,708
2034-35 Jun-34 112,865 131,627 90,858 382,611 8,822 2,236 10,407 433,463 369,949 1,868,755 - 125,000 1,993,755
Jan-35 244,717 285,398 197,000 829,587 19,128 4,849 22,564 939,825 802,132 3,345,200 - - 3,345,200
2035-36 Jun-35 112,457 131,151 90,529 381,226 8,790 2,228 10,369 431,884 368,609 1,877,134 - 125,000 2,002,134
Jan-36 240,621 280,620 193,703 815,699 18,808 4,767 22,186 924,092 788,704 3,304,200 - 125,000 3,429,200
2036-37 Jun-36 51,134 59,634 41,163 173,342 3,997 1,013 4,715 196,376 167,605 1,053,532 - 125,000 1,178,532
Jan-37 126,499 147,628 101,833 428,830 9,888 2,506 11,664 485,814 414,638 1,729,200 - - 1,729,200
2037-38 Jun-37 - - - - - - - - - 369,950 - 125,000 494,956
Jan-38 - - - - - - - - - -
TOTALS 5,221,586 6,089,597 4,203,440 17,701,069 408,146 103,454 481,466 20,053,244 17,115,270 85,549,608 2,653,000 11 6,483,553 209,957,982
Source:ROPS3,ROPS2 and ROPS1 29
Prepared by Keyser Marston Associates,Inc.
Filename:HB_CF_2013-01-09_Scenario2:Expenses:1/9/2013:1 Page 10 of 16
Table 3
Cash Flow/RPTTF Funding Exhibit C-4(COntinued)
Forecast-Enforceable
Obligations Based on ROPS 3
Successor Agency to
Huntington Beach Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall
Redevelopment Agency 1 2 3 4 5 6 7 8 9 10 11 12 13 14
R0PS3 Line Item
WATERFALL
SUBTOTALI
Enforceable Obligation Description Semi Annual SubT of Other SubT of Other Available Above WATERFALL
Property Tax Loan Repayments Costs without FY 2012-13 Beg Balance End Balance SUBTOTAL 2
Starting Bond Debt without SERAF R0PS3 Line Item Taxing Entity SERAF Debt Less SERAF SERAF Debt Available After
w ROPS 5 Service Bond Fees and City GF Loans Obligations 41A9 Admin Allowance Over/(Under) Distribution at Obligation 2009 Add Interest Subtotal 2009 Repayment Obligation 2009 2009 SERAF
Amount Outstanding per R0PS3 50% 0.53% 100,00%
Termination Date - of Available
2011-12 ROPS1 Jan-12
2012-13 ROPS2 Jun-12
ROPS3 Jan-13
2013-14 Jun-13
Jan-14 7,970,000 3,237,642 5,160 1,496,008 34,965 143,213 3,053,012 1,526,505 3,331,300 17,489 3,3413,789 (1,526,505) 1,822,284 -
2014-15 Jun-14 4,106,000 - 734,936 3,163,504 175,861 125,000 (93,301) - 1,822,284 9,567 1,831,851 - 1,831,851 -
Jan-15 7,970,000 3,248,400 5,160 6,000 15,000 125,000 4,570,440 2,285,219 1,831,851 9,617 1,841,468 (1,841,468) - 443,750
2015-16 Jun-15 4,106,000 - 734,936 2,310,534 157,159 125,000 778,371 389,185 - - - - - 389,185
Jan-16 7,970,000 3,287,963 5,160 1,112,119 - 132,157 3,432,600 1,716,300 - - - - - 1,716,300
2016-17 Jun-16 4,106,000 - 734,936 2,342,492 162,686 125,000 740,886 370,443 - - - - - 370,443
Jan-17 7.970,000 3,302,033 5,160 1,136,433 - 133,309 3,393,066 1,898,532 - - - - - 1,696,532
2017-18 Jun-17 4,308000 - 734,936 2,375,089 168,488 125,000 904,487 452,243 - - - - - 452,243
Jan-18 8,363,000 3,318,868 5,160 1,155,233 15,000 134,828 3,733,912 1,B66,956 - - - - - 1,866,956
2018-19 Jun-18 4,308,000 - - 2,402,337 174,581 125,000 1,606,082 803,041 - - - - - B03,041
Jan-19 8,363,000 3,345,647 5,160 1,180,528 - 135,940 3,695,725 1,847,862 - - - - - 1,847,862
2019-20 Jun-19 4,308,000 - - 2,438,251 180,978 125,000 1,585,771 782,885 - - - - - 782,885
Jan-20 8,363,000 1,878,666 5,160 1,208,330 - 125,000 5,147,844 2,573,922 - - - - - 2,573,922
2020-21 Jun-20 4,308,000 - - 2,470,843 187,696 125,000 1,524,461 762,230 - - - - - 762,230
Jan-21 8,363000 1,875,425 5,160 1,232,648 15,000 125,000 5,109,767 2,554,883 - - - - - 2,554,883
2021-22 Jun-21 4,308,000 - - 2,506,127 194,749 125,000 1,482,124 741,062 - - - - - 741,062
Jan-22 8,363,000 1,468,250 5,160 1,259,492 - 125,000 5,505,09B 2,752,548 - - - - - 2,752,548
2022-23 Jun-22 4,308,000 - - 2,542,116 202,154 125,000 1,438,73D 719,364 - - - - - 716,364
Jan-23 8,363,000 1,469,250 5,160 1,286,873 - 125,000 5,478,717 2,738,358 - - - - - - 2,738,358
2023-24 Jun-23 4,308,000 - _ - 2,578,825 209,930 125,000 1,394,245 697,122 - - - - - 697,122
Jan-24 8,363,000 1,197,000 5,160 1,314,802 15,000 125,000 5,706,038 2,863,019 - - - - - 2,853,019
2024-25 Jun-24 4,308,000 - - 2,616,269 218,095 125,000 1,348,636 874,317 - - - - - 674,317
Jan-25 8,363,000 1,168,500 5,160 1,343,289 - 125,000 5,721,051 2,860,525 - - - - - 2,860,525
2025-26 Jun-25 4,308,000 - - 2,020,528 226,668 125,000 1,935,804 967,901 - - - - - 967,901
Jan-26 8,363,000 - - 1,372,346 - 125,000 6,865,654 3,432,827 - - - - - 3,432,827
2026-27 Jun-26 4,308,000 - - 752,479 235,670 125,000 3,194,861 1,597,425 - - - - - - 1,697,425
Source:ROPS3,ROPS2 and ROPS1
Prepared by Keyser Marston Associates,Inc, 30
Filename:HB_CF_2013-01-09_Scenario2:Expenses:1/9/2013:GSH:Page 11 of 16
Table 3
Cash Flow/RPTTF Funding
Forecast-Enforceable Exhibit C-4(Continued)
Obligations Based on ROPS 3
Successor Agency to
Huntington Beach Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall
Redevelopment Agency 1 2 3 4 5 6 7 B 9 10 11 12 13 14
ROPS3 Line Vern
WATERFALL
SUBTOTALI
Enforceable Obligation Description Semi Annual SubT of Other SAT of Other Available Above WATERFALL
Property Tax Loan Repayments Costs without FY 2012-13 Beg Balance End Balance SUBTOTAL 2
Starling Bond Debt without SERAF ROPS3 Line Item Taxing Entity SERAF Debt Less SERAF SERAF Debt Available After
w ROPS 5 Service Bond Fees and City GF Loans Obligations 4149 Admin Allowance Oved(Under) Distribution at Obligation 2009 Add Interest Subtotal 2009 Repayment Obligation 2009 2009 SERAF
Amount Outstanding per ROPS3 50% 0,53% 100,00
Termination Data
- of Available
Jan-27 8,363,000 - - 1,401,964 15,000 125,000 6,821,016 3,410,507 - - - - - 3,410,507
2027-28 Jun-27 4,308,000 - - 752,479 245,122 125,000 3,185,399 1,592,699 - - - - - 1,592,699
Jan-28 8,363,000 - - 1,432,215 - 125,000 6,805,785 3,402,892 - - - - - 3,402,892
2028-29 Jun-28 4,30B4O00 - - 752,479 255046 125,000 3,175,475 1,587,737 - - - - - 1,587,737
Jan-29 8,363,000 - - 1,463,050 - 125,000 6,774,950 3,387,474 - - - - - 3,387,474
2029-30 Jun-29 4,308,000 - - 752,479 265,467 125,000 3,165,054 1,582,527 - - - - - 1,582,527
Jan-30 8,363,000 - - 1,494,503 15,000 125,000 6,728,497 3,364,248 - - - - - 3,364,248
2030-31 Jun-30 4,308,000 - - 752,479 276,408 125,000 3,154,113 1,577,056 - - - - - 1,577,056
Jan-31 8,363,000 - - 1,526,584 - 125,000 6,711,416 3,355,708 - - - - - 3,355,708
2031-32 Jun-31 4,308,000 - - 752,479 287,897 125,000 3,142,624 1,571,311 - - - - - 1,571,311
Jan-32 8,363,000 - - 1,559,307 - 125,000 6,678,693 3,339,346 - - - - - 3,339,346
2032-33 Jun-32 4,308,000 - - 752,479 299,960 125,000 3,130,561 1,565,280 - - - - - 1,565,280
Jan-33 8,363,000 - - 1,592,684 15,000 125,000 6,630,316 3,315,157 - - - - - 3,315,157
2033-34 Jun-33 4,308,000 - - 750,675 312,627 125,000 3,119,698 1,559,649 - - - - - 1,559,849
Jan-34 8,363,000 - - 532,514 - 125,000 7,705,486 3,852,743 - - - - - 3,852,743
2034-35 Jun-34 4,308,000 - - - 325,926 125,000 3,857,074 1,928,536 - - - - - 1,928,536
Jan-35 8,363,000 - - - - - B,363,000 4,181,500 - - _ _ - 4,181,500
2035-36 Jun-35 4,308,000 - - - 339,891 125,000 3,843,109 1,921,554 - - - - - 1,921,554
Jan-36 8,363,000 - - - 15,000 125,000 8,223,000 4,111,500 - - - - - 4,111,500
2036-37 Jun-36 2,227,000 - - - 354.554 125,000 1,747,446 873,723 - - - - - 873,723
Jan-37 4,323,000 - - - - - 4,323,000 2,161,500 - - - - - 2,161,500
2037-38 Jun-37 - - - - 369,950 125,000 (494,950) - - - - - - -
Jan-38 - - - - - - 0
TOTALS
Source:ROPS3,ROPS2 and ROPS1
Prepared by Keyser Marston Associates,Inc. 31
Filename:HB_CF_2013-01-09_Scenario2:Expenses:1/9/2013:GSH:Page 12 of 16
Table 3
Cash Flow/RPTTF Funding Exhibit C-4(Continued)
Forecast-Enforceable
Obligations Based on ROPS 3
Successor Agency to
Huntington Beach Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall
Redevelopment Agency 15 16 17 1a 19 20 21 22 23 24 25 26 27 28 29 30
ROPS3 Line Item 41.00 42.00 43.00 44.00 45.00 46.00
Enforceable Obligation Description WATERFALL Third Block West Second Block
Beg Balance End Balance SUBTOTAL 3 Beg Balance Huntington Center Development of Relocation, Alley&Street Imp
SERAF Debt Less SERAF SERAF Debt Available for Non Obligation Less Line Items Land Right of Way Main Pier RP Ph Downtown Main Property Acq& Project Property Strand Project
Obligation 2010 Add Interest Subtotal 2010 Repayment Obligation 2010 at Items 41-49 Add Interest Subtotal 41-49 Repayment Acq Costs II Land Acquisition Pier Land Acq Project Costs Acq Relocation Costs
Amount Outstanding per ROPS3 0.53% 100.00% 80.00% 1.91% 100.00% 7.3% 8.5% 5.9% 24.8% 0.6% 0.1%
Termination Date of Available of Available 295,498 345,786 238,684 1,005,122 23,176 5,874
2011-12 ROPS1 Jan-12
2012-13 ROPS2 Jun-12
ROPS3 Jan-13
2013-14 Jun-13
Jan-14 F--7-03-,4-13-1 3,593 707,105 - 707,105 - 607370,440 1,150,057 61,520,497 - - - - - - -
2014-15 Jun-14 707,105 3,712 710,818 - 710,818 - 61,520,497 1,171,965 62,692,462 - - - - - - -
Jan-15 710,818 3,732 714,560 (443,750) 270,800 - 62,692,462 1,194,291 63,BB6,754 - - - - - - -
2015-16 Jun-15 270,800 1,422 272,221 (272,221) - 93,571 63,886,754 1,217,043 65,103,796 (93,571) (6,845) (7,983) (5,510) (23,205) (535) (135)
Jan-16 - - - - - 1,373,040 55,010,225 1,238,445 66,248,570 (1,373,040) - (100,444) (117,142) (80,859) (340,504) (7,851) (1,990)
2016-17 Jun-16 - - - - - 296,354 64,875,630 1,235,BB1 66,111,511 (296,354) (21,680) (25,284) (17,452) (73,494) (1,695) (430)
Jan-17 - - - - - 1,357,226 65,815,157 1,253,779 67,068,935 (1,357,226) (99,287) (115,793) (79,928) (336,583) (7,761) (1,967)
2017-18 Jun-17 - - - - - 361,794 65,711,710 1,261,808 66,963,518 (361,794) (26,467) (30,867) (21,306) (89,723) (2,069) (524)
Jan-18 - - - - - 1,493,565 66,601,723 1,268,763 67,870,485 (1,493,565) (109,251) (127,424) (87,957) (370,394) (8,540) (2,165)
2018-19 Jun-18 - - - - - 642,433 66,376,921 1,264,480 67,641,402 (642,433) (46,997) (54,810) (37,833) (159,319) (3,674) (931)
Jan-19 - - - - - 1,478,290 66,998,969 1,276,330 68,275,299 (1,478,290) (108,144) (126,121) (87,057) (366,606) (8,453) (2,143)
2019-20 Jun-19 - - - - - 626,308 66,797,010 1,272,483 68,069,493 (626,308) (45,817) (53,434) (36 884) (155,320) (3,581) (908)
Jan-20 - - - - - 2,059,138 57,443,185 1,284,793 58,727,977 (2,059,138) (150,535) (176,677) (121,264) (510,552) (11,774) (2,985)
2020-21 Jun-20 - - - - - 609,784 66,568,840 1,270,041 57,938,881 (609,784) (44,609) (52,024) (35,910) (151,222) (3,487) (884)
Jan-21 - - - - - 2,043,906 67,329,097 1,282,519 68,511,715 (2,043,905) (149,521) (174,377) (120,367) (506,875) (11,687) (2,952)
2021-22 Jun-21 - - - - - 592,860 66,567,810 1,268,117 67,835,927 (592,850) (43,370) (50,579) (34,913) (147,023) (3,390) (859)
Jan-22 - - - - - 2,202,038 67,243,077 1,280,981 68,524,068 (2,202,038) (161,090) (187,B68) (129,579) (545,090) (12,592) (3,192)
2022-23 Jun-22 - - - - - 575,491 66,322,019 1,253,434 67,585,464 (575,491) (42,100) (49,098) (33,891) (142,718) (3,291) (834)
Jan-23 - - - - - 2,190,686 67,009,953 1,276,540 68,286,503 (2,190,686) (150,259) (186,900) (129,011) (543,275) (12,527) (3,175)
2023-24 Jun-23 - - - - - 557,698 66,095,816 1,259,125 57,354,941 (557,698) (40,798) (47,580) (32,843) (138,305) (3,189) (808)
Jan-24 - - - - - 2,282,415 66,797,244 1,272,487 58,069,731 (2,282 416) (156,970) (194,726) (134,412) (566,023) (13,051) (3,308)
2024-25 Jun-24 - - - - - 539,454 55,787,316 1,253,248 57,040,565 (539,454) (39,464) (46,024) (31,759) (133,781) (3,085) (782)
Jan-25 - - - - - 2,288,420 56,501,111 1,265,846 67,757,957 (2,288,420) (167,409) (195,238) (134,765) (557,512) (13,086) (3,317)
2025-26 Jun-25 - - - - - 774,321 55,479,537 1,247,385 66,726,922 (774�321) - (5Qfi45) (66,062) (45,600) (192,026) (4,428) (1,122)
Jan-26 - - - - - 2,746,262 65,952,601 1,256,397 67,208,999 (2,746,262) (200,902) (234,299) (161,729) (681,054) (16,704) (3,980)
2026-27 Jun-26 - - - - - 1,277,940 64,462,737 1,228,015 65,590,752 (1,277,940) (93,487) (109,028) (75,258) (315,920) (7,307) (1,852)
Source:ROPS3,ROPS2 and ROPS1 32
Prepared by Keyser Marston Associates,Inc.
Filename:HB_CF_2013-01-09_Scenario2:Expenses:11912013:GSH:Page 13 of 16
Table 3
Cash Flow/RPTTF Funding Exhibit C-4(C011tlllll0(�)
Forecast-Enforceable
Obligations Based on ROPS 3
Successor Agency to
Huntington Beach .Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall
Redevelopment Agency 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
ROPS3 Line Item 41.00 42.00 43.00 44.00 45.00 46.00
Enforceable Obligation Description WATERFALL Third Block West Second Block
Beg Balance End Balance SUBTOTAL 3 Beg Balance Huntington Center Development of Relocation, Alley&Street Imp
SERAF Debt Less SERAF SERAF Debt Available for Non Obligation Less Line Items Land Right of Way Main Pier RP Ph Downtown Main Property Acq& Project Property Strand Project
Obligation 2010 Add Interest Subtotal 2010 Repayment Obligation 2010 at Items 41-49 Add Interest Subtotal 41-49 Repayment Acq Costs II Land Acquisition Pier Land Acq Project Costs Acq Relocation Costs
Amount Outstanding per RDPS3 0.53% 100.00% 80.00% 1.91% 100.00% 7.3% 8.5% 5.9% 24.8% 0.6% 0.1%
Termination Dale of Available of Available 296,498 345,786 23B,684 1,005,122 23,176 5,B74
Jan-27 - - - - - 2,728,406 64,412,812 1,227.064 65,639,876 (2,728,4D6) (199,596) (232,776) (160,677) (676,626) (15,601) (3,955)
2027-28 Jun-27 - - - - - 1,274,159 62,911,471 1,198,464 64,109,934 (1,274,159) (93,211) (108,706) (75,036) (315,983) (7,286) (1,847)
Jan-28 - - _ - - 2,722,314 62,835,775 1,197,022 64,032,796 (2,722,314) (199,150) (232,256) (160,318) (675,115) (15,567) (3,946)
2028-29 Jun-28 - - - - - 1,270,190 61,31D,483 1,167,965 62,478,447 (1,27D,190) (92,920) (108,367) (74,802) (314,998) (7,263) (1,841)
Jan-29 - - - - - 2,709,979 61,208,258 1,166,017 62,374,275 (2,709,979) (198,248) (231,2D4) (159,592) (672,056) (15,496) (3,928)
2029-30 Jun-29 - - - - - 1,266,022 59,664,296 1,136,605 60,800,901 (1,266,022) (92.615) (108,011) (74,557) (313,965) (7,239) (1,835)
Jan-30 - - - - - 2,691,398 59,534,879 1,134,139 6D,669,019 (2,691,398) (196,889) (229,618) (158,498) (667,448) (15,390) (3,901)
2030-31 Jun-30 - - - - - 1,281,845 57,977,620 1,104,474 59,OB2,094 (1,261,845) (92,295) (1D7,638) (74,299) (312,879) (7,214) (1,829)
Jan-31 - - - - - 2,884,568 57,820,449 1,101,480 58,921,929 (2,684,566) (196,389) (229,036) (158,095) (685,754) (15,351) (3,891)
2031-32 Jun-31 - - - - - 1,257,049 58,237,362 1,071,322 57,308,884 (1,257,049) (91.959) (107,246) (74,028) (311,739) (7,188) (1,822)
Jan-32 - - - - - 2,871,477 56,051,635 1,067,784 57,119,419 (2,671,477) (195,431) (227,919) (157,325) (662,508) (15,276) (3,872)
2032-33 Jun-32 - - - - - 1,252,224 54,447,942 1,037,233 55,485,175 (1,252,224) (91,808) (106,834) (73,744) (310,543) (7,160) (1,815)
Jan-33 - - - - - 2,652,126 54,232,951 1,033,138 55,266,089 (2,652,126) (194,016) (226,268) (156,185) (657,709) (15,165) (3,844)
2033-34 Jun-33 - - - - - 1,247,879 52,613,963 1,002,296 53,618,259 (1,247,879) (91,288) (106,464) (73,488) (309,465) (7,136) (1,809)
Jan-34 - - _ _ - 3,082,194 52,368,380 997,818 53,385,998 (3,082,194) (225,477) (262,959) (181,512) (764,363) (17,824) (4,467)
2034-35 Jun-34 - - - - - 1,542,829 50,283,804 957,906 51,241,710 (1,542,829) (112,885) (131,627) (90,858) (382,611) (8,822) (2,236)
Jan-35 - - - - - 3,345,2DO 49,698,881 946,764 50,645,645 (3,345,20D) (244,717) (285,398) (197,000) (829,587) (19,128) (4,849)
2035-36 Jun-35 - - - - - 1,537,243 47,300,445 901,073 48,201,518 (1,537,243) (112,457) (131,151) (90,529) (381,226) (8,790) (2,228)
Jan-36 - - - - - 3,289,200 46,684,275 888,954 47,553,230 �1,729,200)
3,289,200) (240,621) (280,620) (193,703) (815,699) (18,808) (4,767)
2036-37 Jun-36 - - _ - - 898,978 .44,264,030 843,230 45,107,259 (698,978) (51,134) (59.834) (41,163) (173,342) (3,997) (1,013)
Jan-37 - - - - - 1,729,200 44,408,281 845,97E 45,254,259 (126,499) (147,528) (101,833) (428.830) (9,888) (2,506)
2037-38 Jun-37 - - - - - - 43,525,059 829,152 44,354,211 - - - - - -
Jan-38 - - - - - - 44,354,211 844,948 45,199,159
TOTALS
Source:ROPS3,ROPS2 and ROPS1 33
Prepared by Keyser Marston Associates,Inc.
Filename:HB_CF_2013-01-09_Scenario2:Expenses:1/9/2013:GSH:Page 14 of 16
Table 3
Cash Flow/RPTTF Funding Exhibit C-4(Continued)
Forecast-Enforceable
Obligations Based on ROPS 3
Successor Agency to
Huntington Beach Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall
Redevelopment Agency 31 32 33 34 35 36 37 38 39 40 41 42 43 44 '45 46 47
ROPS3 Line Item 47.00 45.00 49.00
WATERFALL
Enforceable Obligation Description Parside Hotel SUBTOTAL 4 WATERFALL Beg Balance Less End Balance WATERFALL
Retail&Parking Strand Project End Balance Available to Beg Balance End Balance SUBTOTAL 5 Emerald Cove Emerald Cove Emerald Cove SUBTOTAL 6
Structure Waterfront Comml Properly Acq Obligation Repay City GF City GF Loan Less City GF City GF Loan Remaining City Loan City Loan City Loan Remaining
Relocation Costs Master Site Plan Costs Items 41-49 Loans Repayment Add Interest Subtotal Repayment Repayment Available Repayment Add Interest Subtotal Repayment Repayment Available
Amount Outstanding per ROPS3 0.7% 25.1% 24.0% 0.53% 100.00% 0.53% 100.00%
Termination Date 27,339 1,135,556 971,859 of Available of Available
2011-12 ROPS1 Jan-12
2612-13 ROPS2 Jun-12 City staff to add accrued interest to ROPS5 period
ROPS3 Jan-13
2013-14 Jun-13
Jan-14 - - - 61,520,497 - 17,512,346 91,940 17,604,286 - 17,604,285 F77T6,433 29,801 5,705,234 - 5,705,234 -
2614-15 Jun-14 62,592,462 17,604,285 92,423 17,695,705 17,696,705 5,705,234 29,955 5,735,192 5,736,192
Jan-15 - - - 63,886,754 - 17,696,708 92,905 17,789616 - 17,789,616 - 5,735,192 30,115 5,765,307 - 5,766,307 -
2615-16 Jun-15 (631) (26,289) (22,437) 65010,225 17,769,816 93,395 17,883,012 17,883,012 5,765,307 30,273 5.796,550 5,795,550
Jan-15 (9,251) (385,752) (329,236) 54,575,630 - 17,663,D12 93,886 17,975,897 - 17,976,897 - 5,795,58D 3D,432 5,827,012 - 5,527,012
2016-17 Jun-16 (1,999) (53.260) (71,052) 65,515,157 - 17,976,897 94,379 18,071,275 - 18,071,275 - 5,827,012 30,592 5,857,504 - 5,557,504 -
Jan-17 (9,155) (381,309) (325,444) 55,711,710 - 18.071,276 94,874 15,166,150 - 15,168,150 - 5,857,604 30,752 5,858,358 - 5,888,356 -
2017-16 Jun-17 (2,440) (101,545) (86,753) 66,601,723 - 18,166,150 95,372 18,261,523 - 15,261,523 - 5,558,356 30,914 5,919,270 - 5,919,270 -
Jan-18 (10,074) (419,513) (358,135) 66,376,921 - 15,261,523 95,873 18,357,395 - 18,357,395 - 5,919,270 31,076 5,950,345 - 5,950,345 -
2016-19 Jun-18 (4,333) (180,490) (154,046) 65,995,969 - 18,357,395 95,376 18,453,772 - 18,453,772 - 5,950,346 31,239 5,981,585 - 5,981,586 -
Jan-19 (9,971) (415,321) (354,473) 65,797,010 - 15,453,772 96,882 15,550,554 - 18,550,654 - 5,981,555 31,403 6,012,989 - 5,012,959 -
2619-26 Jun-19 (4,225) (175,959) (150,16D) 67,443,185 - 15,550,554 97,391 18,648,045 - 18,648,045 - 0,012,909 31.568 6,044,557 - 6,044,557 -
Jan-20 (13,559) (578,5D9) (493,752) 66,668,840 - 18,548,045 97,902 18,745,947 - 15,745,947 - 6,044,557 31,734 6,076,291 - 6,075,291 -
2020-21 Jun-20 (4,113) (171,317) (146,215) 67,329,097 - 18,745,947 95,415 18,844,364 - 18,844,354 - 5,075,291 31,901 5,108,192 - 6,108,192 -
Jan-21 (13,787) (574,230) (490,100) 65,567,810 - 18,844,354 98,933 18,943,298 - 18,943,296 - 6,108,192 32,058 6,140,260 - 6,140,260 -
2021-22 Jun-21 (3,999) (166,559) (142,157) 67,243,077 - 15,943,296 99,452 19,042,749 - 19,042,749 - 5,140,260 32,236 6,172,495 - 8,172,495
Jan-22 (14,853) (615,657) (528,018) 65,322,019 - 19,D42,749 99,974 19,142,723 - 19,142,723 - 6,172,495 32,406 6,204,902 - 5,204,902 -
2022-23 Jun-22 (3,882) (151,683) (137,995) 67,009,953 - 19,142,723 1DO,499 19,243,222 - 19,243,222 - 5,204,902 32,576 5,237,477 - 6,237,477 -
Jan-23 (14,777) (615,467) (525,296) 66,095,816 - 19,243,222 101,027 19,344,249 - 19,344,249 - 6,237,477 32,747 6,270,224 - 6,270,224 -
2023-24 Jun-23 (3,762) (155,554) (133,725) 66,797,244 - 19,344,249 101,557 19,445,807 - 19,445,507 - 6,270,224 32,919 6,303,143 - 6,303,143
Jan-24 (15,395) (641,238) (547,291) 55,787,316 - 19,445,807 102,090 19,547,897 - 19,547,897 - 6,303,143 33,D92 6,335,234 - 6,335,234 -
2024-25 Jun-24 (3,639) (151,558) (129,353) :6,501,111 - 19,547,597 102,626 19,650,524 - 19,650,524 - 6,336,234 33,265 6,369,500 - 6,359,500 -
Jan-25 (15.436) (542,925) (546;731) 5,479,537 - 19,650,524 103,165 19,753,559 - 19,753,559 - 6,369,500 33,440 6,402,939 - 6,402,939 -
2025-26 Jun-25 (5,223) (217,543) (155,671) 65,952601 - 19,753,689 103,707 19,557,396 - 19,557,396 - 6,402,939 33,515 6,436,555 - 6,436,555 -
Jan-28 (18,524) (771,555) (658,515)1 64,462,737 - 19,557,395 104,251 19,981,647 - 19,961,647 - 6,436,555 33.792 6,470,347 - 6,470,347 -
2026-27 Jun-25 (5,520) (359,034) (306,432)1 64,412,812 - 19,961,647 104,799 20,D66,446 - 20,G66,446 - 6,470,347 33,959 5,504,316 - 6,504,316 -
Source:ROPS3,ROPS2 and ROPS1 34
Prepared by Keyser Marston Associates,Inc.
Filename:HB_CF_2013-01-09_Scer io2:Expenses:1/9/2013:GSH:Page 15 of 16
Table 3
Cash Flow/RPTTF Funding Exhibit C-4(Continued)
Forecast-Enforceable
Obligations Based on ROPS 3
Successor Agency to
Huntington Beach Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall Waterfall
Redevelopment Agency 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47
ROPS3 Line Item 47.00 48.00 49.00
WATERFALL
Enforceable Obligation Oescriplion Pierside Hotel SUBTOTAL 4 WATERFALL Beg Balance Less End Balance WATERFALL
Retail&Parking Strand Project End Balance Available to Beg Balance End Balance SUBTOTAL 5 Emerald Cove Emerald Cove Emerald Cove SUBTOTAL 6
Structure Waterfront Comml Property Acq Obligation Repay City GF City GF Loan Less City OF Oily OF Loan Remaining City Loan Oily Loan City Loan Remaining
Relocation Costs Master Site Plan Costs Items 41-49 Loans Repayment Add Interest Subtotal Repayment Repayment Available Repayment Add Interest Subtotal Repayment Repayment Available
Amount Outstanding per ROPS3 0.7% 28.1% 24.0% 0.53% 100.00% 0.53% 100.00%
Termination Date 27,339 1,138,686 971,859 of Available of Available
Jan-27 (113,404) (766,538) (654,234) 62,911,471 - 20,056,445 105,349 20,171,795 - 20,171,795 - 6,504,315 34,148 6,538,464 - 6,538,464 -
2027-28 Jun-27 (8,594) (357,971) (305,525) 52,835,775 - 20,171,795 105,902 20,277,597 - 20,277,597 - 5,538,464 34,327 6,572,791 - 5,572,791 -
Jan-28 (18,353) (764,1325) (552,773) 61,310,483 - 20,277,597 105,458 20,384,154 - 20,384,154 - 6,572,791 34,507 6,507,298 - 6,507,298 -
2028-29 Jun-28 (8,568) (356,1356) (304,574) 61,2013,2513 - 20,384,154 107,017 20,491,171 - 20,491,171 - 6,607,298 34,688 6,641,986 - 6,641,986 -
Jan-29 (18,279) (761,361) (549,815) 59,564,296 - 20,491,171 107,579 20,598,750 - 20,598,750 - 6,641,985 34,870 6,675,857 - 6,676,857 -
2029-30 Jun-29 (8,540) (355,585) (303,574) 59,534,879 - 20,598,750 108,143 20,706,1393 - 20,705,893 - 5,576,857 35,053 5,711,910 - 5,711,910
Jan-30 (18,154) (756,141) (645,360) 57,977,620 - 20,705,893 1O13,711 20,815,505 - 20,815,605 - - 6,711,910 35,238 5,747,148 - 6,747,148 -
2030-31 Jun-30 (13,510) (354,456) (302,525) 57,820,449 - 20,815,605 109,282 20,924,886 - 20,924,886 - 6,747,148 35,423 6,782,570 - 6,782,570 -
Jan-31 (18,108) (754,221) (643,722) 56,237,362 - 20,924,885 109,856 21,034,742 - 21,034,742 - 5,782,570 35,608 6,818,179 - 5,818,179 -
2031-32 Jun-31 (8,479) (353,164) (301,423) 56,051,635 - 21,034,742 110,432 21,145,174 - 21,145,174 - 6,818,179 35,795 5,853,974 - 5,853,974 -
Jan-32 (18,020) (750,544) (640,583) 54,447,942 - 21,145,174 111,012 21,256,187 - 21,256,187 - 6,853,974 35,983 6,889,957 - 6,889,957 -
2032-33 Jun-32 (8,447) (351,809) (300,265) 54,232,951 - 21,255,187 111,595 21,367,782 - 21,367,782 - 6,889,957 36,172 5,925,130 - 5,925,130 -
Jan-33 (17,889) (745,107) (635,943) 52,513,963 - 21,367,782 112,181 21,479,952 - 21,479,962 - 6,925,130 36,362 5,952,492 - 5,952,492 -
2033-34 Jun-33 (8,417) (350,588) (299,224) 52,358,380 - 21,479,962 112,770 21,592,732 - 21,592,732 - 6,962,492 36,553 6,999,045 - 5,999,045 -
Jan-34 (20,790) (855,934) (739,067) 50,283,804 - 21,592,732 113,352 21.706,094 - 21,706,094 - 6,999,045 35,745 7,035,790 - 7,035,790 -
2034-35 Jun-34 (10,407) (433,453) (369,949) 49,598,881 - 21,706,094 113,957 21,820,051 - 21,820,051 - 7,035,790 36,938 7,072,728 - 7,072,728 -
Jan-35 (22,564) (939,825) (802,132) 47,300,445 - 21,820,051 114,555 21,934,506 - 21,934,505 - 7,072,728 37,132 7,109,860 - 7,109,860 -
2035-36 ,1un-35 (10,359) (431,884) (368,609) 46,654,275 - 21,934,605 115,157 22,049,753 - 22,049,763 - 7,109,850 37,327 7,147,185 - 7,147,186 -
Jan-35 (22,186) (924,092) (788,704) 44,264,030 - 22,049,763 115,761 22,165,524 - 22,165,524 - 7,147,186 37,523 7,184,709 - 7,184,709 -
2036-37 Jun-36 (4,715) (196,376) (167,605) 44,408,281 - 22,165,524 115,359 22,281,893 - 22,281,893 - 7,184,709 37,720 7,222,429 - 7,222,429 -
Jan-37 (11,564) (485,814) (414,538) 43,525,059 - 22,281,893 115,980 22,398,873 - 22,398,873 - 7,222,429 37,918 7,260,347 - 7,260,347 -
2037-38 Jun-37 - - - 44,354,211 - 22,398,873 117,594 22,515,457 - 22,516,457 - 7,260,347 38,117 7,298,454 - 7,298,464 -
Jan-38 - - - 45,199,159 - 22,516,467 118,211 22,634,679 - 22,634,679 - 7,298,454 38,317 7,336,780 - 7,336,780 -
TOTALS
Source:ROPS3,ROPS2 and ROPS1 3S
Prepared by Keyser Marston Associates,Inc.
Filename:HB_CF_2013-01-09_Scenario2:Expenses:1/9/2013:GSH:Page 16 of 16
Table 4 Exhibit C-4(Continued)
Tax Increment Revenue Projection
Merged Redevelopment Project(Including Southeast Coastal)
Huntington Beach Redevelopment Agency
000's Omitted) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18
Gross TI After TI After Semi Annual Ptax
jury-Jane Tax County Flood Ctl Co Educ Co Water County Co Flood Ocean View HB HS Co Educ Coast CC Vector Ctl Statutory Pass Less Pass Expanded
Fiscal Increment Share Share Share Share Share Share USD Share Dist Share Share Dist Share Share Pass Thru Throughs True Up Throughs 34% 66%
Year 93% (HC) (HC) (HC) (Various) OV) (0 0 (OV) (OV) (OV) (0 SB211 OOOs) Adjust (OOOs) Jun Jan
ROM 2011-12 9,630 (1,370) 8,260 NA 8,260,099
ROPS2&3 2012-13 11,496 (1,055) 10,441 3,428,586 7,012,392
2013-14 13,988 (128) (41) (9) (8) (17) (9) (59) (49) (4) (35) (0) (1,204) 12,426 (350) 12,076 4,106,000 7,970,000
2014-15 13,988 (128) (41) (9) (8) (17) (9) (59) (49) (4) (35) (0) (1,204) 12,426 (350) 12,076 4,106,000 7,970,000
2015-16 13,988 (128) (41) (9) (8) (17) (9) (59) (49) (4) (35) (0) (1,204) 12,426 (350) 12,076 4,106,000 7,970,000
2016-17 13,988 (128) (41) (9) (8) (17) (9) (59) (49) (4) (35) (0) (1,204) 12,426 (350) 12,076 4,106,000 7,970,000
2017-18 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000
2018-19 15,087 (141). (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000
2019-20 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000
2020-21 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000
2021-22 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,30B4O00 B,363,000
2022-23 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000
2023-24 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000
2024-25 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 B,363,000
2025-26 15,087 (141) (45) (10) (9) (1B) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,30B4O00 8,363,000
2026-27 15,087 (141) (45) (10) (9) (1B) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000
2027-28 15,087 (141) (45) (10) (9) (1B) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 B,363,000
2028-29 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000
2029-30 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 B,363,000
2030-31 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000
2031-32 15,OB7 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000
2032-33 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,30B4O00 B,363,000
2033-34 15,087 (141) (45) (10) (9) (1B) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 8,363,000
2034-35 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (350) 12,672 4,308,000 B,363,000
2035-36 15,087 (141) (45) (10) (9) (18) (9) (61) (50) (4) (37) (1) (1,679) 13,022 (35b) 12,672 4,308,000 8,363,000
2036-37 7,745 0 0 0 0 0 0 0 0 0 0 0 (845) 6,900 (350) 6,550 2,227,000 4,323,000
2037-38 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Prepared by Keyser Marston Associates,Inc-
Filename:HB CF 2013-01-09 Scenario2:PTax Sum:1/9/2013:8:22 PM:GSH 36
Table 4.1 Exhibit C-4 (Continued)
Tax Increment
Yorktown-Lake
Huntington Beach
000's Omitted 1 2 3 4 5 6 7 8
Total Total Annual Incremental Gross 50% Statutory Net
Real Other Total Value Tax Co Water Pass Thru After
Plan Fiscal Property Property Project Over Base Increment Share Triggered Tax
Yr Year Value Value Value $1,801 93% -0.82% by SB211 Sharing
Reported 29 2011-12 56,965 179 57,145 55,344 513 0 (20) 493
Reported 30 2012-13 57,666 37 57,703 55,902 288 0 36 323
31 2013-14 34,971 37 35,007 33,207 308 0 31 338
32 2014-15 34,971 37 35,007 33,207 308 0 31 338
33 2015-16 34,971 37 35,007 33,207 308 0 31 338
34 2016-17 34,971 37 35,007 33,207 308 0 31 338
35 2017-18 34,971 37 35,007 33,207 308 0 31 338
36 2018-19 34,971 37 35,007 33,207 308 0 31 338
37 2019-20 34,971 37 35,007 33,207 308 0 31 338
38 2020-21 34,971 37 35,007 33,207 308 0 31 338
39 2021-22 34,971 37 35,007 33,207 308 0 31 338
Plan Limit 09-20-2022 40 2022-23 34,971 37 35,007 33,207 308 0 31 338
SB 1045 09-20-2023 41 2023-24 34,971 37 35,007 33,207 308 0 31 338
SB109609-20-2024 42 2024-25 34,971 37 35,007 33,207 308 0 31 338
SB109609-20-2025 43 2025-26 34,971 37 35,007 33,207 308 0 31 338
44 2026-27 34,971 37 35,007 33,207 308 0 31 338
45 2027-28 34,971 37 35,007 33,207 308 0 31 338
46 2028-29 34,971 37 35,007 33,207 308 0 31 338
47 2029-30 34,971 37 35,007 33,207 308 0 31 338
48 2030-31 34,971 37 35,007 33,207 308 0 31 338
49 2031-32 34,971 37 35,007 33,207 308 0 31 338
TI Receipt 09-20-2032 50 2032-33 34,971 37 35,007 33,207 308 0 31 338
SB104509-20-2033 51 2033-34 34,971 37 35,007 33,207 308 0 31 338
SB109609-20-2034 52 2034-35 34,971 37 35,007 33,207 308 0 31 338
SB 1096 09-20-2035 53 2035-36 34,971 37 35,007 33,207 308 0 31 338
Prepared by Keyser Marston Associates,Inc.
Filename:HB_CF_2013-01-09_Scenario2:YT: 1/9/2013:8:23 PM:GSH 37
Table 4.2 Exhibit C-4 (Continued)
Tax Increment
Talbert-Beach
Huntington Beach
000's Omitted 1 2 3 4 5 6 7 8
Total Total Annual Incremental Gross 50% Statutory Net
Real Other Total Value Tax Co Water Pass Thru After
Plan Fiscal Property Property Project Over Base Increment Share Triggered Tax
Yr Year Value Value Value $1,813 93% -0.75% by SB211 Sharing
Reported 29 2011-12 71,867 427 72,294 70,481 653 0 (45) 608
Reported 30 2012-13 64,226 98 64,324 62,511 572 0 (25) 547
31 2013-14 63,438 98 63,537 61,724 573 0 (25) 548
32 2014-15 63,438 98 . 63,537 61,724 573 0 (25) 548
33 2015-16 63,438 98 63,537 61,724 573 0 (25) 548
34 2016-17 63,438 98 63,537 61,724 573 0 (25) 548
35 2017-18 63,438 98 63,537 61,724 573 0 (25) 548
36 2018-19 63,438 98 63,537 61,724 573 0 (25) 548
37 2019-20 63,438 98 63,537 61,724 573 0 (25) 548
38 2020-21 63,438 98 63,537 61,724 573 0 (25) 548
39 2021-22 63,438 98 63,537 61,724 573 0 (25) 548
Plan Limit09-20-2022 40 2022-23 63,438 98 63,537 61,724 573 0 (25) 548
S8 1045 09-20-2023 41 2023-24 63,438 98 63,537 61,724 573 0 (25) 548
S8109609-20-2024 42 2024-25 63,438 98 63,537 61,724 573 0 (25) 548
S8 1096 09-20-2025 43 2025-26 63,438 98 63,537 61,724 573 0 (25) 548
44 2026-27 63,438 98 63,537 61,724 573 0 (25) 548
45 2027-28 63,438 98 63,537 61,724 573 0 (25) 548
46 2028-29 63,438 98 63,537 61,724 573 0 (25) 548
47 2029-30 63,438 98 63,537 61,724 573 0 (25) 548
48 2030-31 63,438 98 63,537' 61,724 573 0 (25) 548
49 2031-32 63,438 98 63,537 61,724 573 0 (25) 548
TI Receipt 09-20-2032 50 2032-33 63,438 98 63,537 61,724 573 0 (25) 548
S8104509-20-2033 51 2033-34 63,438 98 63,537 61,724 573 0 (25) 548
S8109609-20-2034 52 2034-35 63,438 98 63,537 61,724 573 0 (25) 548
S8109609-20-2035 53 2035-36 63,438 98 1 63,537 1 61,724 573 0 (25) 548
Prepared by Keyser Marston Associates,Inc.
Filename:HB CF 2013-01-09 Scenario2:TB: 1/9/2013:8:23 PM:GSH 38
Table 4.3 Exhibit C-4(Continued)
Tax Increment
Main Pier
Huntington Beach
000's Omitted 1 2 3. 4 5 6 7 8
Total Total Annual Incremental Gross 50% Statutory Net
Real Other Total Value Tax Water Pass Thru After
Plan Fiscal Property Property Project Over Base Increment Share Triggered Tax
Yr Year Value Value Value $6,158 93% -0.82% by SB211 Sharing
Reported 29 2011-12 264,690 18,978 283,668 277,510 2,576 0 (402) 2,174
Reported 30 2012-13 270,401 22,258 292,659 286,501 2,449 0 (371) 2,079
31 2013-14 249,675 22,258 271,933 265,774 2,417 0 (363) 2,054
32 2014-15 249,675 22,258 271,933 265,774 2,417 0 (363) 2,054
33 2015-16 249,675 22,258 271,933 265,774 2,417 0 (363) 2,054
34 2016-17 249,675 22,258 271,933 265,774 2,417 0 (363) 2,054
35 2017-18 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082
36 2018-19 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082
37 2019-20 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082
38 2020-21 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082
39 2021-22 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082
Plan Limit 09-20-2022 40 2022-23 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082
SB104509-20-2023 41 2023-24 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082
SB109609-20-2024 42 2024-25 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082
SB109609-20-2025 43 2025-26 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082
44 2026-27 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082
45 2027-28 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082
46 2028-29 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082
47 2029-30 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082
48 2030-31 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082
49 2031-32 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082
TI Receipt 09-20-2032 50 2032-33 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082
SB104509-20-2033 51 2033-34 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082
SB109609-20-2034 52 2034-35 249,675 22,258 271,933 265,774 2,467 0 (385) 2,082
SB 1096 09-20-2035 53 2035-36 249,675 22,258 1 271,933 1 265,774 2,467 0 (385)1 2,082
Prepared by Keyser Marston Associates,Inc.
Filename: HB_CF_2013-01-09_Scenario2:MO: 1/9/2013:8:23 PM:GSH 39
Table 4.4 Exhibit C-4(Continued) Exhibit C-4(Continued)
Tax Increment
Oakview Project
Huntington Beach
000's Omitted 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
Total Total Annual Incremental Gross 50% 100% 15% 15% 100% 50% 100% 50% Statutory Net
Real Other Total Value Tax Co Entities Co Flood Ocean View HB HS Co Educ Coast CC Vector Ctl Co Water Pass Thru After
Plan Fiscal Property Property Project Over Base Increment Share Share USD Share Dist Share Share Dist Share Share Share Triggered Tax
Yr Year Value Value Value $23,335 93% -7.1% -1.8% -25.5% -21% -1.23% -8.9% -0.10% -0.75% by SB211 Sharing
Reported 29 2011-12 134,281 4,087 138,368 115,085 1,068 (25) (13) (67) (55) (4) (45) (1) 0 (39) 819
Reported 30 2012-13 136,335 5,276 141,610 118,275 851 (18) (9) (60) (49) (4) (36) (1) 0 (21) 652
31 2013-14 112,113 5,276 117,389 94,054 822 (17) (9) (59) (49) (4) (35) (0) 0 (19) 631
32 2014-15 112,113 5,276 117,389 94,054 822 (17) (9) (59) (49) (4) (35) (0) 0 (19) 631
33 2015-16 112,113 5,276 117,389 94,054 822 (17) (9) (59) (49) (4) (35) (0) 0 (19) 631
34 2016-17 112,113 5,276 117,389 94,054 822 (17) (9) (59) (49) (4) (35) (0) 0 (19) 631
35 2017-18 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666
36 2018-19 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666
37 2019-20 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666
38 2020-21 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666
39 2021-22 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666
Plan Limit 11-01-2022 40 2022-23 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666
SB104511-01-2023 41 2023-24 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666
SBt09611-01-2024 42 2024-25 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666
SB109511-of-2o25 43 2025-26 112,113 5,276 117,389 94,054 872 (18) (9) 61) (50) (4) (37) (1) 0 (25) 666
44 2026-27 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666
45 2027-28 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666
46 2028-29 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666
47 2029-30 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666
48 2030-31 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666
49 2031-32 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666
Tl Receipt 11-01-2032 50 2032-33 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666
SB104511-01-2033 51 2033-34 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666
SB109611-01-2034 52 2034-35 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666
SB109611-01-2035 53 2035-36 112,113 5,276 117,389 94,054 872 (18) (9) (61) (50) (4) (37) (1) 0 (25) 666
Prepared by Keyser Marston Associates,Inc.
Filename:HB_CF_2013-01-09_Scenario2:OV:1/9/2013:8:23 PM:GSH 40
Table 4.5 Exhibit C-4 (Continued)
Tax Increment
Main-Pier Added
Huntington Beach
000's Omitted 1 2 3 4 5 6 7
Total Total Annual Incremental Gross Statutory Net
Real Other Total Value Tax Pass Thru After
Plan Fiscal Property Property Project Over Base Increment Triggered Tax
Yr Year Value Value Value $49,499 93% by SB211 Sharing
Reported 28 2011-12 829,530 29,464 858,994 809,495 7,515 (641) 6,875
Reported 29 2012-13 893,791 28,154 921,945 872,446 7,711 (690) 7,021
30 2013-14 855,588 28,154 883,742 834,243 7,046 (523) 6,523
31 2014-15 855,588 28,154 883,742 834,243 7,046 (523) 6,523
32 2015-16 855,588 28,154 883,742 834,243 7,046 (523) 6,523
33 2016-17 855,588 28,154 883,742 834,243 7,046 (523) 6,523
34 2017-18 855,588 28,154 883,742 834,243 7,745 (845) 6,900
35 2018-19 855,588 28,154 883,742 834,243 7,745 (845) 6,900
36 2019-20 855,588 28,154 883,742 834,243 7,745 (845) 6,900
37 2020-21 855,588 28,154 883,742 834,243 7,745 (845) 6,900
38 2021-22 855,588 28,154 883,742 834,243 7,745 (845) 6,900
39 2022-23 855,588 28,154 883,742 834,243 7,745 (845) 6,900
Plan Limit 09-06-2023 40 2023-24 855,588 28,154 883,742 834,243 7,745 (845) 6,900
SB104509-06-2024 41 2024-25 855,588 28,154 883,742 834,243 7,745 (845) 6,900
SB109609-06-2025 42 2025-26 855,588 28,154 883,742 834,243 7,745 (845) 6,900
SB109609-06-2026 43 2026-27 855,588 28,154 883,742 834,243 7,745 (845) 6,900
44 2027-28 855,588 28,154 883,742 834,243 7,745 (845) 6,900
45 2028-29 855,588 28,154 883,742 834,243 7,745 (845) 6,900
46 2029-30 855,588 28,154 883,742 834,243 7,745 (845) 6,900
47 2030-31 855,588 28,154 883,742 834,243 7,745 (845) 6,900
48 2031-32 855,588 28,154 883,742 834,243 7,745 (845) 6,900
49 2032-33 855,588 28,154 883,742 834,243 7,745 (845) 6,900
TI Receipt 09-06-2033 50 2033-34 855,588 28,154 883,742 834,243 7,745 (845) 6,900
SB104509-06-2034 51 2034-35 855,588 28,154 883,742 834,243 7,745 (845) 6,900
SB109609-06-2035 52 2035-36 855,588 28,154 883,742 834,243 7,745 (845) 6,900
SB109609-06-2036 53 2036-37 855,588 28,154 1 883,742 834,243 7,745 (845)1 6,900
Prepared by Keyser Marston Assoclates,Inc.
Filename: HB CF 2013-01-09 Scenario2:MA: 1/9/2013:8:24 PM:GSH 41
Table 4.6 Exhibit C-4.(Continued)
Tax Increment
Huntington Center
Huntington Beach
000's Omitted 1 2 3 4 5 6 7 8 .9 10 11
Total Total Annual Incremental Gross 80% 80% 34% Statutory Net
Real Other Total Value Tax County Flood Ctl Co Educ Co Water Pass Thru After
Plan Fiscal Property Property Project Over Base Increment Share Share Share Share Triggered Tax
Yr Year Value Value Value $74,693 93% -5.7% -1.8% -0.3074% -0.75% by SB211 Sharing
Reported 27 2011-12 399,726 62,304 462,030 387,338 3,596 (163) (52) (11) (10) (480) 2,880
Reported 28 2012-13 392,415 58,637 451,052 376,360 3,086 (140) (45) (9) (9) (365) 2,519
29 2013-14 352,292 58,637 410,929 336,237 2,822 (128) (41) (9) (8) (305) 2,332
30 2014-15 352,292 58,637 410,929 336,237 2,822 (128) (41) (9) (8) (305) 2,332
31 2015-16 352,292 58,637 410,929 336,237 2,822 (128) (41) (9) (8) (305) 2,332
32 2016-17 352,292 58,637 410,929 336,237 2,822 (128) (41) (9) (8) (305) 2,332
33 2017-18 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488
34 2018-19 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488
35 2019-20 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488
36 2020-21 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488
37 2021-22 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488
38 2022-23 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488
39 2023-24 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488
Plan Limit11-26-2024 40 2024-25 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488
SB104511-26-2025 41 2025-26 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488
42 2026-27 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488
43 2027-28 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488
44 2028-29 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488
45 2029-30 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488
46 2030-31 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488
47 2031-32 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488
48 2032-33 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488
49 2033-34 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) (429) 2,488
TI Receipt 11-26-2034 50 2034-35 352,292 58,637 410,929 336,237 3,122 (141) (45) (10) (9) - (429) 2,488
SB104511-26-2034 51 2035-36 352,292 58,637 410,929 1 336,237 3,122 (141) (45) 10) (9) (429) 2,488
Prepared by Keyser Marston Associates,Inc. 42
Filename:HB CF 2013-01-09 Scenario2:HC:1/9/2013:8:24 PM:GSH
Table 4.7
Tax Increment Exhibit C-4 (Continued)
Southeast Coastal
Huntington Beach
000's Omitted 1 2 3 4 5 6 7
Total Total Annual Incremental Gross Statutory Net
Real Other Total Value Tax Pass Thru After
Plan Fiscal Property Property Project Over Base Increment Triggered Tax
Yr Year Value Value Value $103,734 93% by SB211 Sharing
Reported 10 2011-12 17,770 81,008 98,778 0 0 0 0
Reported 11 2012-13 18,460 68,950 87,410 0 0 0 0
12 2013-14 17,155 68,950 86,105 0 0 0 0
13 2014-15 17,155 68,950 86,105 0 0 0 0
14 2015-16 17,155 68,950 86,105 0 0 0 0
15 2016-17 17,155 68,950 86,105 0 0 0 0
16 2017-18 17,155 68,950 86,105 0 0 0 0
17 2018-19 17,155 68,950 86,105 0 0 0 0
18 2019-20 17,155 68,950 86,105 0 0 0 0
19 2020-21 17,155 68,950 86,105 0 0 0 0
20 2021-22 17,155 68,950 86,105 0 0 0 0
21 2022-23 17,155 68,950 86,105 0 0 0 0
22 2023-24 17,155 68,950 86,105 0 0 0 0
23 2024-25 17,155 68,950 86,105 0 0 0 0
24 2025-26 17,155 68,950 86,105 0 0 0 0
25 2026-27 17,155 68,950 86,105 0 0 0 0
26 2027-28 17,155 68,950 86,105 0 0 0 0
27 2028-29 17,155 68,950 86,105 0 0 0 0
28 2029-30 17,155 68,950 86,105 0 0 0 0
29 2030-31 17,155 68,950 86,105 0 0 0 0
Plan Limit 06-17-2032 30 2031-32 17,155 68,950 86,105 0 0 0 0
S61045 106-17-2033 31 2032-33 17,155 68,950 86,105 0 0 0 0
32 2033-34 17,155 68,950 86,105 0 0 0 0
33 2034-35 17,155 68,950 86,105 0 0 0 0
34 2035-36 17,155 68,950 86,105 0 0 0 0
35 2036-37 17,155 68,950 86,105 0 0 0 0
36 2037-38 17,155 68,950 86,105 0 0 0 0
37 2038-39 17,155 68,950 86,105 0 0 0 0
38 2039-40 17,155 68,950 86,105 0 0 0 0
39 2040-41 17,155 68,950 86,105 0 0 0 0
40 2041-42 17,155 68,950 86,105 0 0 0 0
41 2042-43 17,155 68,950 86,105 0 0 0 0
42 2043-44 17,155 68,950 86,105 0 0 0 0
43 2044-45 17,155 68,950 86,105 0 0 0 0
44 2045-46 17,155 68,950 86,105 0 0 0 0
TI Receipt 06-17-2047 45 2046-47 17,155 68,950 86,105 0 0 0 0
S61045 06-17-2048 46 2047-48 17,155 68,950 86,105 1 0 0 0 0
Prepared by Keyser Marston Associates,Inc.
Filename:HB_CF_2013-01-09_Scenario2:SE:1/9/2013:8:24 PM:GSH 43
City of Huntington Beach Redevelopment Successor Agency Exhibit C-5
Pursuant To AB 1484-All Other Funds
Summary of Balances Available for Allocation to Affected Taxing Entities
Reference:
Total amount of assets held by the successor agency as of September 30,2012(procedure 5) $ 30,087,087 Exhibit C-1
Add the amount of any assets transferred to the city or other parties for which an enforceable
obligation with a third party requiring such transfer and obligating the use
of the transferred assets did not exist(procedures 2 and 3) -
Less assets legally restricted for uses specified by debt
covenants,grant restrictions,or restrictions imposed by other
governments(procedure 6) (2,422,613) Exhibit C-2
Less assets that are not cash or cash equivalents (e.g.,physical assets)-(procedure 7) (21,170,451) Exhibit C-3
Less balances that are legally restricted for the funding of an enforceable
obligation(net of projected annual revenues available to fund those obligations)-(procedure 8) (6,494,023) Exhibit C-4
Less balances needed to satisfy ROPS for the 2012-13 fiscal year(procedure 9) -
Less the amount of payments made on July 12,2012 to the County Auditor-Controller as
directed by the California Department of Finance
Amount to be remitted to county for disbursement to taxing entities $ (0)
44