HomeMy WebLinkAboutOversight Board of the Huntington Beach Successor Agency to AGENDA REPORT
Oversight Board of the Huntington Beach Successor Agency
to the Redevelopment Agency
MEETING DATE: September 22, 2014
SUBJECT/ACTION: Adopt Oversight Board Resolution Nos. 2014-04 and 2014-05
approving the Recognized Obligation Payment Schedule (ROPS)
and Administrative Budget for the Huntington Beach Successor
Agency for the period of January 1, 2015, through June 30, 2015,
in accordance with Health and Safety Code Section 34177 and
related actions
STATEMENT OF ISSUE:
The Oversight Board is requested to approve the Recognized Obligation Payment
Schedule (ROPS) and Administrative Budget for the period of January 1, 2015, through
June 30, 2015. An approved ROPS must be submitted to the Department of Finance
(DOF) by October 3, 2014.
RECOMMENDED ACTION: Motion to:
A) Adopt Resolution No. 2014-04, "A Resolution of the Oversight Board of the
Successor Agency to the Redevelopment Agency of the City of Huntington Beach
Approving the Recognized Obligation Payment Schedule for the Period January 1,
2015 Through June 30, 2015 ("ROPS 14-15B");" and,
B) Adopt Resolution No. 2014-05, "A Resolution of the Oversight Board of the
Successor Agency to the Redevelopment Agency of the City of Huntington Beach
Approving the Successor Agency Administrative Budget for the Period January 1,
2015 Through June 30, 2015."
BACKGROUND:
As a result of the California Supreme Court's ruling on the Dissolution Act, all
redevelopment agencies in California were dissolved effective February 1 , 2012. The
Dissolution Act and AB 1484 describe the procedures to wind down the affairs of the
former redevelopment agencies. These provisions include the continued payment of
recognized enforceable obligations as defined in the law. The Recognized Obligation
Payment Schedule for January 1 , 2015, through June 30, 2015, requests payment for
enforceable obligations associated with the former Redevelopment Agency's Tax
Allocation bonds, development agreements, legal services, and administrative and
other miscellaneous costs. This is the first ROPS that includes a potential re-payment
to the Housing Authority for the SERAF loans. Once the SERAF loans are repaid,
future ROPS may include the repayment of the General Fund loans entered into prior
to the dissolution of the Redevelopment Agency between the City and
Redevelopment Agency. The State Department of Finance (DOF) has the authority to
review the ROPS and return it to the Successor Agency for reconsideration and
modification. Therefore, the ROPS shall not be effective until approved by the State
DOF.
This period ROPS is the second year of the new form created by the State, that
provided for the obligations to be filled in by the state and sent to cities. The
obligations that have been deemed ineligible by the State, have been shaded and
"locked" by the State to allow for no City input.
The Successor Agency approved the ROPS on September 15, 2014.
The Administrative Budget for the January 1, 2015, through June 30, 2015, period
reflects a total of $250,000, which represents three percent (3%) of the projected
property tax receipts during this
ATTACHMENT(S):
1. Adopt Resolution No. 2014-04, "A Resolution of the Oversight Board of the
Successor Agency to the Redevelopment Agency of the City of Huntington Beach
Approving the Recognized Obligation Payment Schedule for the Period January 1,
2015 Through June 30, 2015 ("ROPS 14-15B");" and,
2. Adopt Resolution No. 2014-05, "A Resolution of the Oversight Board of the
Successor Agency to the Redevelopment Agency of the City of Huntington Beach
Approving the Successor Agency Administrative Budget for the Period January 1,
2015 Through June 30, 2015."
RESOLUTION NO. 2014- 04
A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR
AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF
HUNTINGTON BEACH APPROVING THE RECOGNIZED OBLIGATION
PAYMENT SCHEDULE FOR THE PERIOD JANUARY 1, 2015 THROUGH
JUNE 30, 2015 ("ROPS 14-1513")
WHEREAS, pursuant to AB xl 26 (as amended by AB 1484, the "Dissolution Act"), the
separate legal entity known as Successor Agency to the Redevelopment Agency of the City of
Huntington Beach ("Successor Agency") must prepare "Recognized Obligation Payment
Schedules" ("ROPS") that enumerate the enforceable obligations and expenses of the Successor
Agency for each successive six-month fiscal period until the wind down and disposition of assets
of the former Redevelopment Agency of the City of Huntington Beach; and
The Successor Agency staff,has prepared a ROPS for the six-month fiscal period
commencing on January 1, 2015 and continuing through June 30, 2015 ("ROPS 14-1513") which
is attached hereto as Exhibit A; and
Under the Dissolution Act, ROPS 14-15B must be approved by the Successor Agency's
oversight board ("Oversight Board"); and
After reviewing ROPS 14-15B presented to and recommended for approval to the
Oversight Board by Successor Agency staff, and after reviewing any written and oral comments
from the public relating thereto, the Oversight Board desires to approve the ROPS 14-1513; and
All of the prerequisites with respect to the approval of this Resolution have been met.
NOW, THEREFORE, the Oversight Board of the Successor Agency to the
Redevelopment Agency of the City of Huntington Beach does hereby resolve as follows:
1. The Oversight Board hereby finds and determines that the foregoing recitals are
true and correct.
2. The Oversight Board hereby approves ROPS 14-15B in the form presented to the
Oversight Board and attached hereto as Exhibit A, and hereby determines that such agreements
and obligations constitute "enforceable obligations" and "recognized obligations" for all
purposes under the Dissolution Act.
3. The Oversight Board authorizes and directs the Successor Agency staff to: (i) take
all actions necessary under the Dissolution Act to post 14-15B on the Successor Agency website;
(ii) transmit ROPS 14-15B to the Auditor-Controller and the County Administrator of the
County of Orange and to the State Controller and the State Department of Finance ("DOF"); and
(iii) to do any and all things and to execute and deliver any and all documents which may be
necessary or advisable in order to effectuate the purposes of this Resolution. In addition, the
Oversight Board authorizes and directs the Successor Agency staff to make such non-substantive
1
14-4370/112586
Oversight Board Reso. 2014-04
revisions to ROPS 14-15B as may be necessary to submit ROPS 14-15B in any modified form
required by DOF, and ROPS 14-15B as so modified shall thereupon constitute ROPS 14-15B as
approved by the Oversight Board pursuant to this Resolution.
4. The Oversight Board does not intend, by adoption of this Resolution, to waive
any constitutional, legal and/or equitable rights of the Oversight Board, the Successor Agency or
the City of Huntington Beach under law and/or in equity by virtue of the adoption of this
Resolution and actions approved and taken pursuant to this Resolution and, therefore, reserves
all such rights of the Oversight Board, the Successor Agency and the City of Huntington Beach
under law and/or in equity.
PASSED AND ADOPTED by the Oversight Board of the Successor Agency to the
Redevelopment Agency of the City of Huntington Beach at a special meeting thereof held on the
22nd day of September, 2014
�9'
Chairman
REVIEWED AND APPROVED:
Exec e Director
APPROVED AS TO FORM:
`,AgencyR Counsel
2
13-3914/101076
Oversight Board Reso. 2014-04
EXHIBIT A
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
FOR THE PERIOD JANUARY 1, 2015 THROUGH JUNE 30, 2015
("ROPS 14-15B")
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m
Recognized Obligation Payment Schedule(ROPS 14-15B)-Summary
Filed for the January 1,2015 through June 30,2015 Period
Name of Successor Agency: Huntington Beach
Name of County: Orange
Current Period Requested Funding for Outstanding Debt or Obligation Six-Month Total
Enforceable Obligations Funded with Non-Redevelopment Property Tax Trust Fund(RPTTF)Funding
A Sources(B+C+D): $. 1,643,241
B Bond Proceeds Funding(ROPS Detail) -
C Reserve Balance Funding(ROPS Detail)
D Other Funding(ROPS Detail) 1,643,241
E Enforceable Obligations Funded with RPTTF Funding(F+G): $ 7,858,358
F Non-Administrative Costs(ROPS Detail) 7,608,358
G Administrative Costs(ROPS Detail) 250,000
H Current Period Enforceable Obligations(A+E): $ 9,501,599
Successor Agency Self-Reported Prior Period Adjustment to Current Period RPTTF Requested Funding
I Enforceable Obligations funded with RPTTF(E): 7,858,358
J Less Prior Period Adjustment(Report of Prior Period Adjustments Column S) (98,652)
K Adjusted Current Period RPTTF Requested Funding(I-J) $ 7,759,706
County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding
L ,:Enforceable Obligations funded with RPTTE(E) 7,858,358
M :.-Less Prior.Period Adjustment(Report of Prior Period Adjustments Column AA)
N -`Adjusted,Current Period RPTTF Requested Funding(L-M)- 7,858,358
Certification of Oversight Board Chairman: Matthew M. Harper, Chair
Pursuant to Section 34177(m)of the Health and Safety code,
hereby certify that the above is a true and accurate Recognized Name Title
Obligation Payment Schedule for the above named agency. Is/ Dc
Signature Date
Recognized Obligation Payment Schedule(ROPS 14-15B)-ROPS Detail
January 1,2015 through June 30,2016
(Report Amounts in Whole Dollars)
A B C D E F G H I J K L M N O P
Funding Source
Non-Redevelopment Property Tax Trust Fund
(Non-RPTTF) RPTTF
Cont—VAgreement Con1—VAgreement Total Outstanding Reserve
Item p Project Name/Debt Obligation Obligation Type Execution Date Termination Date Payee Descri tion/Pro ect Scope Project Area Debt or Obligation Retired Bond Proceeds Balance Other Funds Non-Admin Admin Six-Month Total
-. $ 85,394,463 $ - - $ - $. 1,643,241 $ 7,608,358. $ 250000 $ .:9,501 599
d Land i8ele.EmeraldiClive CIW/County Loariark 51182009! A 10l 2030i1%0*i COHB Park'A1&ID+und4Fh1 Le all!Bindin O era50eA feementA Mar-edLVWfi. , R.. NS v " h?,T `N?d341ARffitEd.'FE -
2 Hyatt Regency Huntington Beach OPA/DDA/Constructi 9/14/1998 9/30/2023 PCH Beach Resorts LLC Disposition and Development Merged 4,914,489 N 975,806 337,596 1,313,402
Project on Agreement approved on September
14,1998 for the Waterfront
Development
3 2002 Tax Allocation Refunding Bonds Issued On or 6/19/2002 8/1/2024 Bank of New York Trust Co.Tax Allocation Bonds Debt Service Merged 13,050,138 N 1,627,138 1,627,138
Bonds Before 12/31/10 Pa manta
4 1999 Tax Allocation Refunding Bonds Issued On or 1/12/1999 8/12024 Bank of New York Trust Co.Tax Allocation Bonds Debt Service Merged 5,982,295 N 749,824 749,824
Bonds Before 12/31/10 Payments
5 2002 Tax Allocation Refunding Fees 11/t72010 11/17/2016 Arbitrage Compliance Tax Allocation Bonds arbitrage rebate Merged 500 N '500 500
Bonds Specialist calculation-Federal IRS Compliance
6 1999 Tax Allocation Refunding Fees 11/17/2010 11/17/2016 Arbitrage Compliance Tax Allocation Bonds arbitrage rebate Merged 500 N 500 500
Bonds Specialist calculation-Federal IRS Compliance
7 2002 Tax Allocation Refunding Bonds Issued On or 6/192002 8/1/2016 Internal Revenue Service IRS Arbitrage Rebate Payment Merged - Y -
Bands Before 12/31/10
8 2002 Tax Allocation Refunding Bonds Issued On or 6/19/2002 8/1/2024 Bank of New York Mellon Tax Allocation Bonds-Payment to Merged 1,600 N 1,600 1,600
Bonds Before 12/31/10 Fiscal Agent
9 1999 Tax Allocation Refunding Bonds Issued On or 1/12/1999 8/1/2024 Bank of New York Mellon Tax Allocation Bonds-Payment to Merged 1,600 N 1,600 1,600
Bonds Before 12/31/10 Fiscal Agent
10 2002 Tax Allocation Refunding Fees 1/3/2001 8/1/2016 Harrell&Company Preparation and filing of Continuing Merged 700 N 700 700
Bonds Advisors,LLC Disclosure Annual Reports and
Material Event Notices
11 1999 Tax Allocation Refunding Fees 1132001 8/1/2016 Harrell&Company Preparation and filing of Continuing Merged 2,025 N 2,025 2,025
Bonds Advisors,LLC Disclosure Annual Reports and
I Material Event Notices
2 Rm rft avdj 2 10 Sarled A`Leasea Be(or'�e'1 31d CtPor:,5/132010' "" 9/t12021 SUS Benky!.,):_""' R vdnuerRetu'nrl'ng B tla'Ds aaec'j Merged72,518,786
4
eve fin.
-ID d Betvlce,P,a mer $I:
13 HUD Section 108 Infrastructure Bonds Issued On or 7/21/2010 8/i/2019 Bank of New York Mellon Legally binding and enforceable loan' Merged N 466,072 466,072
Loan for Hyatt/Hilton Properties Before 12/31/10 agreement with the U.S.Department of
Housing and Urban Development for
capital Improvements
14 Strand Hotel and Mixed-Use Project,OPA/DDA/Construcfi 6/1/1999 9/30/2033 CIM Group,LLC and Kane Property Tax Sharing Agreement Merged 8,571 N 702,904 702,904
Parking&Infrastructure on Ballmer and Berkman under the Disposition and
Development Agreement(DDA)for
development of hotel,retail,restaurant,
and public parking structure.The
Implementation of the DDA and the
Sixth Implementation Agreement were -
entered into from June 1999 to
November 2008.
15 Strand Project Additional Parking OPA/DDA/Constructi 1/20/2009 9/30/2033 CIM Group,LLC Property Tax Sharing Agreement Merged 414,402 N 49,576 49,576
on under the Disposition and
Development Agreement(DDA)and
Sixth Implementation Agreement for
the Strand projects parking structure
authorized on January 20,2009.
16 Pacific City OPA/DDA/Construce 10/16/2006 10/162026 Makar Properties&Kane Owner Participation Agreement Merged 5,520,000 N 20,000 20,000
on - Ballmer and Berkman approved on October 16,2006 for
future development of a Tgacre site
located at Pacific Coast Highway and
First Street and financed by property
tax allocations.
Recognized Obligation Payment Schedule(ROPS 14-15B)-ROPS Detail
January 1,2015 through June 30,2015
(Report Amounts in Whole Dollars)
A B C Dinti
F G H I J K L M N O P
FundingSource
Non-Redevelopment Property Tax Trust Fund
Non-RPTTF RPTTF
Contract/Agreemeement Total Outstanding Reserve
Item R Project Name I Debt Obli ation Obligation Type Execution Daten Date Payee Description/Project Scope Project Area Debtor Obligation Retired Bond Proceeds Balance Other Funds Non-Admin Admin- Six-Month Total
17 Pao(c`Il�'PVe �E'v/fiubfi Units OR, DAlCbnaQLcti 70Hlr200 'iy`d'.=T,i}l M&keFyPrdpe a -°" �15WAffordablehouaing requirementIT,Merged ;.�i:�( N".. c 1rN7 I,.�i" I 0 !�-' i.���� �rn i1� .. -BRepayment"e)3 Debt SE .IERAF 5/t0/201g 4 ^Houeing'Alithodly legelty1enforceableldbllgadon for MergedRI 0611 atloro2di8 - >� a _ Ys' '.� r SER'AF uen,re°eme}tt !a_`I
20 Repayment of SERAF Debt SERAF/ERAF 5/102011 11/26/2024 Housing Authority Legally enforceable obligation for Merged 720,693 N
Dbli ation 2010 SERAF Loan repayment
21 Abdelmudi Owner Participation OPA/DDA/Constructi 5/28/1991 12/31/2017 Abdelmudi Development Owner Participation Agreement/Rent Merged 10,000 N 10,000 10,000
Agreement/Rent Differential on Company Differential Agreement approved on
Agreement May 28,1991 for the development of
the three story building at the
Oceanview Promenade.The Third
Implementation Amendment took
effect on November 21,1994.
23 Unfunded CaFERS Pension Unfunded Liabilities 6/30/2011 11/26/2026 CaWERS Unfunded CaIPERS pension obligation Merged 2,969,608 N 116,063 116,063
Liabilities as per CaFERS actuarial valuation as
of June 30,2012
24 Unfunded Supplemental Retirement Unfunded Liabilities 9/30/2011 11/26/2026 US Bank Unfunded actuarial accrued liability as Merged 564,127 N 66,550 - 66,550
Liabilities of September 30.2013 as per actuarial
valuation by Bartel Associates,LLC.
26 Unfunded OPES Liabilities Unfunded Liabilities 6/30/2011 11/26/2024 Cs PERS/CERBT Unfunded actuarial accrued liability as Merged 247,354 N 31,817 31,817
of June 30,2013 as per Bartel
Associates,U.C.
21 Obligation for unused employee Unfunded Liabilities 9/30/2011 11/26/2024 City employees directly Obligation for unused employee Merged 49,662 N 13,541 13,541
General Leave earned and vested involved In Housing and General Leave earned and vested as
Redevelopment projects per MOUs and AB 1X26
and administration
28 Successor Agency Compliance per Professional 5f712007 4/30/2015 Tierra West Financial and Real estate consultant Merged Y -
H&S Code 33433 Services
29 Bella Terra Parking Infrastructure OPA/DDA/Constructi 102/2000 9/30/2025 Bella Terra Associates LLC Property Tax Sharing Agreement Merged 12,685,312 N 1,578,008 1,578,008
Property Tax Sharing Agreement on required under the terms of the Owner
Participation Agreement(dated
10/2/2000)and Second
Implementation Agreement(dated
9/1 7120 0 7)for the development of the
Huntington Center(Bella Terra).
Includes legal requirements to enforce
obligation.
30 Bella Terra Phase II Property Tax OPA/DDA/Constructi 10/42010 7/12036 Bella Tema Villas,LLC Agreement approved on October 4, Merged 24,651,414 N 600,000 600,000
Sharing Agreement on 2010 for construction of a 467 mixed-
use unit project.Construction Is
complete and financed by property tax
allocations.Includes legal
requirements to implement obligation.
32 Operative Agreement for the City/County Loans 61172002 10/1/2030 City of Huntington Beach Loan repayment for advance made on Southeast Coastal - N -
Huntington Beach Redevelopment On or Before 6/27/11 capital projects in FY 2004/05
Project
Recognized Obligation Payment Schedule(ROPS 14-15B)-ROPS Detail
January 1,2015 through June 30,2015
(Report Amounts in Whole Dollars)
FA B C D E F G H 1 J K L M N 0 P
Fundin Soume
Non-Redevelopment Property Tez Trust Fund
Non.RPTTF RPTTF
Contract/Agreement contract/Agreement Total Outstanding Reserve
Project Name I Debt Obli ation Obli ation T e Execution Date Termination Date Pa a Descrl tion/Pro-ect Sco a Project Area Debt or Obli ation Retired Bond Proceeds Balance Other Funds Non-Admin Admin Six-Month Total Legal expenses for Successor Legal 7/8/2012 7/8/2015 Kane Balimer&Berkman Legal expenses to ensure Successor Merged&Southeast 75,000 N 75,000 75,000
Agency compliance with AS I 26 Agency compliance with AS 1x 26 and Coastal
and AS 1484 pursuant to Health and AS 1484
Safety Code Section 34171(d)(1)(F)
40 Economic Analysis services related Professional 6/15/2010 6/15/2015 Keyser Marston Economic Analysis consulting services Merged&Southeast 100,000 N 100,000 -100,000
to Successor Agency compliance Services to ensure Successor Agency Coastal
with AS 1 x 26 and AS 1484 pursuant compliance with AS I 26 and AS
to Health and Safety Code Section 1484
34171(d)(1)(F)
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';. ,.49 5traiii!Prolagtut ,p §, i., CltylCouhly o_n ). 1 1 - 11 0 �'..' 1.,..P rtY.....q... " -r- ,..): 9 Se..,, ) ,. .,$: E< ,>,.. ;. ,. 1 ,a >..'
..µre eforer ,„, jr.S`1 , xk Ey,v , .�,!v -tlk.. rs .e" nr�i y �C--F r ,e13,' Y. " y tom` p f 'yeR= ` `.
�: On.or Betore.8Y17/ .4u:�t.%avt$ .i,d»� �` �ti'st':?:-.aY.,u.:af1$?:z 's with.the Strend,P,ro act s�,.:rts�' t..,.,s13.$ .+m..:_,;ai.i4L`) - rr.. :9 w..�',�atl ',1:a '"�4'�S=r`r,,, �L'TM:-' _">t�.+
50 Enforcement of Successor Agency Admin Costs 21112012 111262024 Successor Agency,Kane Successor Agency administrative Merged&Southeast 714,710 N 464,710 250,000 714,710
dissolution compliance and Balimer,Keyser Marston, obligations relating to maintaining Coastal
monitoring per AS 1X26 and and Macias Gini& payments on enforceable obligations
AB1484 O'Connell LLP slat and other activities as required by AS
1 X26
51 Successor Agency Property Property Dispositions 11/112010 1126/2024 S&S Fencing,Al Fence Fencing to secure Successor Agency Merged 3,500 N 3,500 3,500
Maintenance Fencing Co.,American Fence Property
Comp any
52 Successor Agency Property Property l l/l/2010 11/262024 TruGreen As needed weed abatement for Merged 4,0011 N 4,000 4,000
Maintenance-weed control Maintenance Agency ra ert' -°'53 Emweld Cove.2010'Seded A Laese Bonds Issued On ar';6I302010`"R'-"';911/2021'"'-T"+1 'US Beak ';� -%2;'Emerald Ceva 2010,Sedea A Leasej;'Mai- d x-"'• -
C ., „.,.,Cove , ,; _ .:i. d I ued O P 0 R' 911120 M r., „, .. I l,ee ;i.it�, x#•. ) 5'� , '�.
x' „Revenue:R6NndI0g,Bonde - Befote12l3t/10. �) j;t. f igr,)1p�,,, +,f ; ..r ., ,".RevequaRefundingSonde,DebtYy kj,'3' '
k ' �r��G :, u to ii. suer l�e,P etta ;_.. M•L "�u_�.31.� t IS tl f i l' `
54 Pacific City-Very Low Income Units OPA/DDA/Constructi 10/152006 11/262024 Housing Authority Statutory housing obligation for Pacific Merged N -
on - City Project
Recognized Obligation Payment Schedule(ROPS 14.15B)-ROPS Detail
January 1,2015 through June 30,2015
(Report Amounts in Whole Dollars)
A B C D E F G H I J K L M N O P
Funding Source
Non-Redevelopment Property Tax Tmst Fund
Non-RPTTF RPTTF
Contract/Agreement Contract/Agreement Total Outstanding Reserve
Item# Project Name I Debt Obligation Obligation Type Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Balance Other Funds Non-Admin Admin Six-Month Total
55 Litigafion expenses for City of Litigation 2/5/2013 2/5/2015 Kane Ballmer&Berkman Payment of litigation costs for property Merged N -
Huntington Beach v.Matosantos tax payments eligible under Health and
pursuant to Health and Safety Code Safety Code Section 34171(d)(1)(F)as
Section 34171(d)(1)(F) amended by AB 1484
56 RDA Dissolution Audit Dissolution Audits 10/82012 1018/2015 Vavrinek,Trine&Day Cc Statutorily required review/audit to Merged&Southeast N .
LLP vdnd down the RDA,such as due Coastal
diligence reviews
57 Bella Teria'P,rC ebFMano OmenEw"Project-. tine emenE 2I72012'; ,,1,126/2D24i'�'i l pry of Huntngten Beach : Protect nianegemO.gri lreot Coat fo;,Me lted r.' .?p�i�97,1117
�;i;;. ��(+{{�,,, Now
` "t
1 9 iv*w {< z t �(:: n to .9i" leu.r..r., JS. ri!?. `l13td'[i 'Sl�M �i�#��
'�►0� 1 f.49 FAA 4c_f:9 3'. 3.J�".! 4 3r.t... M#t, ove'raeeln Bel(e.Te ra I.. .: T
58 Belle,Teiia'll Projeiq.Menagetneitt Projeot'Menapement 2f12012r.j. - 11282024�"'rit CJly of Huntngtonf Beedi PtoJeG management dliacfcost for Merged i ow N y 3 -g gp$�
bf� Cosblt: �41„T, _ ,)< - .�kj:�. dt�r;*'t'''�Srf' 1k? eJerseelri"�BetleTema,2' .rrt. r ..-iP'418 ,.,�'_„IRi R Mw i,RR '17EI �,x 14W6i' .
.. 1 W-P '3F+'l�"a t., 1� R .la.+ F f-ae.uf. j
'S9 chyproje-Management r" Project Management 2/12012t}�'f"' "a 11YZ0820241g �.;,i Cfiily of Huntnglai Bear / Pie act menepement dl act cnetfir.i Merged -
., , iJ1..}'aIV.';F _, costs .., +i'iil! i 0'}•.,�'.�F�`'9d� k.rr2 .:,",1�.," ,.�,r,n, ++_d' :"7 '; � overae'elri'"CIMK'1,.r Jr.. .+�t, -„�fi'7`k :P .,
x80 BeIIe 7erreI FlnaBdel'Aoayals' Projeot�Mene"gement BI 51�2010 s "r'J 111262024 , Keyser Meieton�' }^Protect tnnhagement direct cost fore Melgedl: N i - -
J(tel'iw: ' .Coeja' ,. �� (EQ.�, #*ra }.TYt`.>r;'..,...i-t ;h r( :,a u,I�:.. �:j.F.Inendel'enef le..Bella Tevall.jt ...�k T''.S ., :�.: ':. iml
'�- Brdel'Ariahjals l PojeotMenegelriedt 8/75/2010 - -"(qj 11262024j r,q Keyser Menrton py 'Pro ed mane emmt diecYCdat fo"- Me ed;- N ( :e &s., '. , CotdeX'S:„.:�R v,l!2` ,- :" f(?�' srgs'7 .,j,fy,'L` �[.'¢?P Flnendel aria(=`Is='Belle=Tetie�llr �re.�`z:c i a at ./fa(;a rt, n4a(.� ':'(�r NEW".. .3Pi
CIM�FInanclel,Aoel-k�, Project.Management 81162010 v '=1, ti1282024,. Keyser Meryntoti ".�Pmjsot management direct Coat for'"- Mum"''� fi- w" ' N WON 1 1'� o
6f WIN"U.#ti , � � coaro 41 t 3 ..ti 1M11 r # tom fina�r;@ial16iI ta°=oln�1]NU _ ht9 3+� v `, ...,,. t�. .
63 2002 Tax Allocation Refunding Bonds Issued On or 6/19/2002 8/1/2024 Bank of New York Trust Co.Amount needed to fund shortfall In Merged V N -
Bonds Before 12/31/10 bond reserve account
64 Successor Agency Financial Dissolution Audits 11/42013 11/4/2016 Vavrinek,Trine&Day Co Statutorily required annual financial Merged 10,000 N 10,000 10,000
Statement Audit LLP statement audit of Successor Agency.
65 Edinger Hotel Project Project Management 126/2014 1/262017 AON Environmental Liability Policy for tN
- -
Costs Edinger Parcel Policy#PLS 15012298
WIN.J68 Housing'AfBno 'Adtnlnbballve Admlri Coab '^+:r 2/182014 :ei,�"!'1128202t$. w Housing'Authodty-.:,+�3T "Housing.EnOty,Adminiebative Cost , .,�. ,, .",: ,•;,(".-R9"e�'fis'T;. 'j°""?r'� ;. �";"^'="'r r"" '� - .3`l -
-:x - ' ^ 't W" 't,JI _,Y.T T*n --(7 t +-,- i€ n ,:s„ - .I. 4 i _ �. i, eta c' T(. .di n 1 r,w Elf. + 1 q
CCatAllovranoe "�tLt�.31r� �d3_a.�..d��F; �rl;�d: .d4u�+,.,WdtS��11€t.rtiri,e,�,_�sPa�, .�WT.v�.6.i i...lrt`I.r�'#.:t.,:'�Allowance'er AP 471. :,;i,.):a�.9 k.:..-a?"iE ..V,I� wt^'1`�x,�e��a!Sf� 'r'�E.._(JIt4.e/..:�..�?8' :$ .w_.�r,"�� ��'a 'a�
67 Big O Lease Termination Payment Property Dispositions 12/12009 6/30/2014 TBC Corporation Return of Security Deposit PaymentMerged 15,000 15,000 15.000
upon lease termination
66 Repayment of SERAF Debt SERAF/ERAF 5/t02010 11/26/2024 Housing Authority Legally enforceable obligation for Merged 3.418,477 1,227,569 1 227,569
Dbli anon 2009 SERAF Loan re a ment
69
70
71 N
72 N
P
N
N
N
N
N
N
N
N
N
N
631 N
P14 N
N
N
N
N
N
N
N
N
N
Recognized Obligation Payment Schedule(ROPS 14-1513)-Report of Cash Balances
(Report Amounts in Whole Dollars)
Pursuant to Health and Safety Code section 34177(1),Redevelopment Property Tax Trust Fund(RPTTF)may be listed as a source of payment on the ROPS,but only to the extent no other funding source is available or
when payment from property tax revenues is required by an enforceable obligation. For tips on how to complete the Report of Cash Balances Form,see httos://rad.dof.ca.gov/rad-
sa/adf/Cash Balance Agency Tips Sheet.odf.
A B C D E F G H I
Fund Sources
Bond Proceeds Reserve Balance Other RPTTF
Prior ROPS Prior ROPS
period balances RPTTF
Bonds Issued Bonds Issued and DDR RPTTF distributed as Rent, Non-Admin
on or before on or after balances reserve for Grants, and
Cash Balance Information by ROPS Period 12/31/10 01/01/11 retained future periods Interest,Etc. Admin Comments
ROPS 13-14B Actuate 01/01/14-06/30/14
1 Beginning Available Cash Balance(Actual 01/01/14)
Beginning available cash balance for Column E
consists of RPTTF balances authorized to be
retained from the ROPS III period. Beginning
available cash balance for Column F is authorized
4,865,050 632,542 1,269,362 - to be used in the ROPS 14-15A period.
2 Revenue/Income(Actual 06/30/14)
RPTTF amounts should tie to the ROPS 13-14B distribution from the
County Auditor-Controller during January 2014
677,339 5,655,611
3 Expenditures for ROPS 13-14B Enforceable Obligations(Actual
06/30/14)
RPTTF amounts,H3 plus H4 should equal total reported actual
expenditures in the Report of PPA,Columns L and Q 452,840 5,633,380
4 Retention of Available Cash Balance(Actual 06/30/14)
RPTTF amount retained should only include the amounts distributed for
debt service reserve(s)approved in ROPS 13-14B
5 ROPS 13-14B RPTTF Prior Period Adjustment
RPTTF amount should tie to the self-reported ROPS 13-14B PPA in the No entry.required
Report of PPA,Column S
98,652
6 Ending Actual Available Cash Balance,
C to G=(1+2.3.4),H=(1+2-3-4 5) 4,665,050 632,542 1,493,861 76,421
ROPS 14-15A Estimate 07101/14.12/31/14
Beginning Available Cash Balance(Actual 07/01/14)
(C,D,E,G=4+6;F=H4+04+F6,and H=5+6) 4,865,050 632,542 1,493,861 22,231
8 Revenue/Income(Estimate 12/31/14)
RPTTF amounts should tie to the ROPS 14-15A distribution from the
Count Auditor-Controller duringJune 2014 464,710
9 Expenditures for ROPS 14-15A Enforceable Obligations(Estimate
7 e
12/31/14) 413,259 632,542 780,040
10 Retention of Available Cash Balance(Estimate 12/31/14)
RPTTF amount retained should only include the amount distributed for
debt service reserve(s)approved in ROPS 14-15A
11 Ending Estimated Available Cash Balance(7+8•9-10) 4,451,191 1,178,531 22,231
Recognized Obligation Payment Schedule(ROPS 14-1513)-Report of Prior Period Adjustments
Reported for the ROPS 13-14B(January 1,2014 through June 30,2014)Period Pursuant to Health and Safety Code(HSC)section 34186(a)
(Report Amounts in Whole Dollars)
ROPS 13-149 Successor Agency(sq)Sell-repadetl Prier Periotl Atljuslmen[s(PPAI:Punuent to HSC Section 34186(el,Sqs era required la report IM1e tligarences between IM1elr actual avallabla/unding and IM1elr equal expantlituras tar the ROPS 13-148(January through Juna 2014)pesbd.Tire amount of Redevelopment Plopalty Tax Trust Fund(RPTTF)apOtavad tar
the ROPE 1415E(January through lone 2015)period will ba atfset by Ma$A's self-reported ROPS 13148 Onar period adjustment.HSC Sedbn 34186(a)also speclhas that the prior period atlfustmenls self-reported by 3As ate eubfect to audit by the county audl.r-antr.11er(CAC)and IM1e State Controller.
A 9 C0 E I F O H i J K L M N 0 P O R S T
Non-RPTTF Expenditures RPTTF Expenditures
Net SA Nan-Admin
and Admin PPA
(Amount Used to
O//set ROPS 14-168
Bontl Proceeds Reserve Balance Oth,r Fund, Nan-Admin Admin Requested RPTTF)
Available Available pit/erence
RPTTF RPTTF (II lalel aclual
(Rol 13-148 piflerence (ROPE 13-14B ceeda total
disldbutetl+all ether Net Lesser of (IfK is less than L. tlishibuled♦all ether Nat Lesaer al avlharoad,IM1e
Prajecl Name l Nix v.ftbla as a/ Auth.4-dI the dinanance is aM saf AUMarizetll fatal din-nos is Net pi//erenu
Items Obligation Auth.rued Actual Autharixed Actual AWbonxed -.1 Authadxed a 01 M"a) gvailabl8 Actual era) Auth-l-d .111114) Available Actual ero) (M4R) SA Comments
$ .. - $... - $ S. ... - i. 452,840 i'.- 452,840 $ -.5,843,934 i- 5.643934 S, _5.643.934 i - 5.545,282 $ 98,652 E 09,096 E 66098 $ '88098 $ 66096 i $ 90,652
1 land Bela Emerald Cave
2 H tl Ra an Huntin tan - 234029 234,079 ...]39,029 734.079 - Ilwludea RPTT1--ad tar debt service m the amount o1 b36G828
3 2002 Tex Alloa8an
Rd.ndin-Bonds -�,- - - 229019 279.019 279,018 279.019 - - -
4 1899 Tax All--
Rotundln Bonds- 126,682 126682 128.662 126.02
5 2002 Tex All.®lion Includes RFTTF(al sods anl¢ipaled l.4 paid In IM1e ROPS 1415A
Relundln Son. 500 500 -500 5. 11.d the am.um of 55pp
6 199g Tax Allealbn
Refundin Gonda 500 500 5. 5.
T 20M Tax ul,afa -
Refuudi. Bond.
8 2002 Tax A11-fia. _ mamcea RPrrF ray aaale annaipaled m ea pa.d m Ma ROPS 1415A
R.-din Bonds - - 153T 1,537 1.532 1,532 - P1,1-n the am.urt of Et,531
9 19.Tax Alloati.n-
Re/unon,Bonds 846 696 a. 848
10 2002 Tax Alf-, Insludea RP:TF.nl costs an.1p.-t.ee Paldinthe ROP61415A
Re/undln Bonds 250 250 - 250 250 _penotl In IM1e am.url a1525c
19aa Tax al.-.n tea to pad 11 the ROPS 1415A
11 Izluaes n. lr lei castsanl¢�pa tr
Refun.Id Bonds - - - 11525 1,525 1.525 1,525 - -.--period In the am.urr a161,525
12 L.-Cwa3010 Series
A Lease Revenue'.
RB/undin Bon Es
13 Hup Seaien lne Izwdee RPTTF reaawad mr...... �mne mn..1-411,411 1.
mhaatrumre Loan for - xpaid.-,R-1 t415A pedal
H e1VHilten Pre r6es 447,022 442,622 442,812 447,922
14 Strand Hotel and Mi.atl- Includes RPTTF reserved 1,d-service in lne amounl.16202,9pJ 1.
Use Pr.laa,Parking 8 - ape's In the RODS 1415A-,xi
tMrestruGuro 702,903 202,903 102.903 702,903
15 Strand Praiect Atldln.na1 Include.RPTTF Iesarvetl tar d"serviceln Ine amount al 549,2561a
'Peikiri 49,T56 49,256 49,256 49,156 Paid in lne BOPS t415A period
to PeckO - - - -
17 Padtic Coy -
ame Un.
to AOeMable Housing„
Campiiance _
Cammdniry Retlevel.pnren '
Law,H..Xh and S.f ty
Cade Section..0,at.
seq.Covenant-.Haring - - -
er AB 8.7.
19 Repayment of SERAF
Not Obli ln.n 2009
20 Repaymant a/SERAF
petit Obii atlan 2.1
21 Abdelmudl Owner -
Pedielp.n.n
Agr -nVRant
OieerentlalA roement 7,500 7,5.0 7,500 7,5. 7,5W
22 Cavanenl an/.rcement/ar
Agerdable h-1 Bete
23 Unnded C.MERSm
Pension Llebiilliea. 105,082 105062 105,062 105,062
24 Unfunded SuppN- I
Ronramenl U11,11ins. 28,952 28,952 28952 20.952
25 Public Agan,Retirement
Syslems(PARS)Notea _ -
Pe able 104,602 104,602 -104,802 1.4,802
26 Unlundad OPEBLIebllHies 6,222 6,222 6222 6.222
22 05tlgatl.n far on..ad
mpkyee Oenarel Leave
medaivast tdad- 13,269 1V69 13.269 1,306 - 11,993 11,983
2 fu
8 Successor A,..,
Compliance par H 4 S.
Coda 334M
Recognized Obligation Payment Schedule(BOPS 14-15B)-Report of Prior Period Adjustments
Reported for the ROPS 13-14B(January 1,2014 through June 30,2014)Period Pursuant to Health and Safety Code(HSC)section 34186(a)
(Report Amounts in Whole Dollars)
ROPS 1344Bsueeess.rA9eney(SAISe1f-repadsd Prior Period Adjustments(PPA):Pursuan it.HSCS-1.n34186(e),SAs ere required to report Ma diRerencea beKv.en their actual evalieble luntlin9 and heir actual expenditures loriM ROPSI3-14B(J—.,th..,h June 20114 ,md.The amount of Redewlepment Property Tax Trust Fund(RPTTF)epp—d ter
the ROPS14.158(Je..,,throu0h June 2015)periodwiil tee.Real by the SA'ss,If,.porbtl SOPS 13-14Bprior pedod a,11us —HSC Section N186(a)a1so apea6ea Mat the prior perl.d adjustments self-reported by SAs aro—I.el le suit bythe—My eudllormntrelier(CAC)end the Stara Controller.
A 9 C D E I F O H I J K L M I N 1 O P Q R S T
Non-RPTTF Expendltures RPTTF Expenditure$
Net U—Ad—
and Admin PPA
(Ameunt Used to
Off-ROPS 14.158
Band Proceeds Reserve Balance Other Funds —Id— Admin Requested RPTTp)
Available Available Differenee
RPT RPTTp (if u"..aeluai
(Ro"-14B Diilerence (ROPS 13 Is. e..ed.totet
distributetl+all other Net Lesser of (if K le less than L, distributed♦ell other Net Lesser./ authorized,the
Protect Name l Debt vallable ea of AuthorizedI the Mere—is evelbble as of AuthorizedI !oral difference is Net Dlllerenee
Itemk Obllgetion Authorized Actual Authorized Actual Authorized A.W.1 Authorized . ovin4) Available Actual aro) Aulharized 0111114) Available Actual era) (M-R) SA Comments
3 - $ $ - S - $ 452,840 $ 452,840 $..5,643,934 $ 5,643,934 $. 5,843,934 $.. 5545.262 $ .. 98.652 S Si $ W.." S .. '68,698 $ 88,098 S - S 98.652
2B Bails Tam Porkin9 _ mlWes RPTfF reserves lw aebl aemuin the emeunl ol55]5.463
iMrastmcleia Preparty Tav - or Me nen sea aervlee parmenl
Shadn A,,..—. 1 692,T9T 1,692,T9T 17692,797 1,692,797 -
30 Belle Tam Phas.B Inclutlea RaRFreaorvea tar aed serviee!nine emeunt al S130,096
Propedy Tat Sbarin0 the nen sea seMae p'y=l
lei
reament - - 1.2W.W. 1.2W,808 1,2W.OW 1,2W.OW
31 Plasid.Pavlibn Omar
Padid auen —
32 Opentlw Apreament for
the Hunting-Ba.eh -
Redevele ment Proect'
-33 Assessment ter AES - -
Pre Tax Valuation
34 -
rminatloNleyaflwsti
related to diseolullan of
R.d—le—A en
35 Empbyee .
te,mn.Ue..Yoff boats
related to dissolution of
Redeuale—.A en
36 Employee
' IerminalleMayeR wsis. -
re-d te diswl—of
Retleveio men♦
rmin.SaNbyes boats
related to disselutien of
Redevele ntA an
3a LMg.6an expem.s for
City el Palmdale at 6L v.
M.......pursuant.
Health antl Safety Code
Se tlen 41 71 tl i F
39 LeOal expenses for
Sueeeaaor A9enry _ -
.Toff nw with AS to 29
end AS 1184 pun—
Health and S-ty Code
9ectlen 341ltd 1 57,509 57,509
40 Ewnom Analy.is - - - -
ervices rei.tad to
S—Isornp.�y
mmpilende wah AB is 26
and AS 1484 Pwiusnl to
Health.nd 9elely Cede
.ells 341T1 d i F 49533 48,533
H-Iftten Center - - - -
1 R.dewbpment Plan -
tl.wb men!
42 Main PIA R.d.wlopment
Pre act Phase II
43 Develepmantaf Downtown
Maln-Pier reed arse
44 TMrd it,V West
mmxercbrealdential
eeel
45 Second Bieck Niay,,d
Sireel lm Pro ct
S—dro actset
46 -.1d P
—nt
a vl.rem.
Sbu-r.-1 dnp
Structure Pm eel
48 Watedrent Commerel.l
Master SR.Plan
46 Su.nd Pro..
Recognized Obligation Payment Schedule(ROPS 14-15B)-Report of Prior Period Adjustments
Reported for the ROPS 13-14B(January 1,2014 through June 30,2014)Period Pursuant to Health and Safety Code(HSC)section 34186(a)
(Report Amounts in Whole Dollars)
RIPS 13-14B successor Ageney(SA)Self-reported Prior Petted Adj-er.nls(PPA):Pur,uant to HSC Sectian 34186(a).SAs are required be raped the differences between their actual available funding end their actual e.p,nditu,e,farthe ROPS 13-148(January through June 2014)period.The a mount of Radevelepmant Progeny Ter Trust Fund(RPTTF)epproved for
the POPS 14-158(J-1,y though June 2015)p 1.dwlll be off-by the SA's self-repoded BOPS 13-14Bprie1p.dbdedjusbnenl,HSC Section 34186(a)also spedges lhatlhe Prier period edj,Mneeds self-,"ned by SAs. subject to audit bythe county auditor-mntraller(CAC)and the Shia Controller.
A B C I D E F 0 H I J H L M I N 1 O P U R S
Non-RPTTF Expenditures RPTTF Expenditures
Net SA No—dmin
end Admin PPA
(Amount Used to
offset RIPS 14-1OB
Send Proceed, Reserve Balance other Fund, Non-Admin Admin Requested RP1rF)
Available Available Difrerence
RPTTF RPTTF (If total actual
(ROPS 1114E Difference (ROPS 13-148 —total
distribute, a e 11 ether Net L......f (If H is less than L, dieldbuted+ell other Net Le,ser of aulhorleed,the
Project Name/Debt available as of Authorized the difference la avalieble as of Authorized) torsi din erence I. Net Difference
Items Obilgallon A.Ihorized Actual Authorized Actual Authorized Actual Authorized .111114) Available Actualzero) Authorized 0111114) Avellabie Actual ero) t..R) SA Comments
] - s. ]-...--.. ] - S 452,810 S .. 452,a40 S 5.813,934 S .. 5843.931 f 5.641,934 ] 5,545,282 S 93,652 S sextets ] al S.- .:.'ful S aa,09a S-.:.. - S ...- 96,852
SO Enf.--.tof Suoceasor
Ag.nrydlvolWkn
ampll—and monitoring
er AS lx26 nd AB14a4 - - ]46,]99 346,798 89,098 BB,098 -
51 Suco,eeor N.,ey,
Prepedy M.Imer—
Fated 2..0 2,500 2,500 1.811 999 8.9
52 8uccessor Aganry
P.""M.Irtan.r.
weed cerdnl 3,500 ].SOO 3.500 3,501) 9,500
.53 E—MCova20105edes
At....Revenue
P.furdite'Bonds
54 P,clac Chy-Very Low
Income Untls
55 Lalg.aen e.,....fer
City of Huntington Saeeh v.
M.Mea......et le
Health and S.f rty Code
Bolen 341171 1,11111PI, 75.000 75.000 1 75.000 :.75,000 ]5.000
56 RDA Oissaiulion Audit - - - 11,395 171395 17,395 11,395
Prejee
]tianla cement
59 %it,Tarn It Project
Mane emend
se CIM Pro ecl Men..maM
90 Bail.Tam I Finandal - - - - -
Anai s.
81 Bell.Tan.It Mr.rel.1-
Ate.l sla
82 CIM Feenchi An.sis
63 2002 T..Mlocle.n
R.lundln-Bantle 29,514 29,514 .28.514 29,510
64 Suc—tetr Aganry
Fir—I iSbleman1A 11 III= 10,000 -10.000 10,0011
Recognized Obligation Payment Schedule CROPS 14-15B)-Notes
January 1,2015 through June 30,2015
Item# Notes/Comments
Res. No. 2014-04
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF HUNTINGTON REACH )
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 September 22, 2014 and that it was so
adopted by the following vote:
AYES: Board Members: Bone, Carchio, L. Dunn, Fritzal, Harper
NOES: Board Members: None
ABSENT: Board Members: A. Dunn, Delgado
ABSTAIN: Board Members: None
J.'s Q MAP 9.0 1 N.W jr—
Secret of theIluntingt each Oversight
Board of the Successor Agency of the Former
City of Huntington Beach Redevelopment
Agency Huntington Beach, California
**Board Member Bone recused himself on lime.2 & 13 of the ROPS
RESOLUTION NO. 2014- 05
A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR
AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF
HUNTINGTON BEACH APPROVING THE SUCCESSOR AGENCY
ADMINISTRATIVE BUDGET FOR THE PERIOD JANUARY 1, 2015
THOUGH JUNE 30, 2015
WHEREAS, California Health and Safety Code section 341770) requires that the
Successor Agency to the Redevelopment Agency of the City of Huntington Beach ("Successor
Agency") prepare an administrative budget for each six month fiscal period; and
A draft administrative budget for the fiscal period of January 1, 2015 through June 30,
2015 ("Administrative Budget") is attached hereto as Exhibit A; and
California Health and Safety Code section 34177(k) requires the Successor Agency to
provide to the County Auditor-Controller administrative cost estimates for expenses from the
administrative budget that are to be paid from property tax revenues deposited in the
Redevelopment Property Tax Trust Fund for each six month fiscal period; and
All of the prerequisites with respect to the approval of this Resolution have been met.
NOW, THEREFORE, the Oversight Board of the Successor Agency to the
Redevelopment Agency of the City of Huntington Beach does hereby resolve as follows:
I. The Oversight Board hereby finds and determines that the foregoing recitals are
true and correct.
2. The Administrative Budget attached hereto as Exhibit A is hereby approved.
3. The Successor Agency staff is directed to: (i) provide the required cost estimates
for expenses to the County Auditor-Controller; and (ii) to do any and all things and to execute
and deliver any and all documents which may be necessary or advisable in order to effectuate the
purposes of this Resolution.
4. The Oversight Board does not intend, by adoption of this Resolution, to waive
any constitutional, legal and/or equitable rights of the Oversight Board, the Successor Agency or
the City of Huntington Beach under law and/or in equity by virtue of the adoption of this
Resolution and actions approved and taken pursuant to this Resolution and, therefore, reserves
all such rights of the Oversight Board, the Successor Agency and the City of Huntington Beach
under law and/or in equity.
14-4370/112585 1
Oversight Boards Reso. 2014-05
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
22nd day of September, 2014
Chairman
REVIE ED AND APPROVED:
Ex4utk6 irector
APPROVED AS TO FORM:
r
A ency Co nsel
14-4370/112585 2
Oversight Boards Reso. 2014-05
EXHIBIT A
ADMINISTRATIVE BUDGET FOR THE PERIOD
JANUARY 1, 2015 THROUGH JUNE 30, 2015
[behind this page]
14-4370/112585 3
Successor Agency
Administrative Budget
Department Budget Summary
Other Funds by Object Account
OTHER FUNDS
IN
Ex endrture�Ob Account ,,,,=r .. _O S14r15B,Biid"eu
RORF Administration IssOI
PERSONAL SERVICES
Salaries/Benefits-Permanent 184,710
RERSOIISERVI,CES' � � " �}&. _ � z �8.4_77A
OPERATING EXPENSES
Legal Services 75,000
Other Professional Services 100,000
Other Operating 355,000
0PERAINGxEXPENSESy .n
Total 714,710
' ;."' "' +` "5'. a "b + xr a-. 2 :-�-
-,€ cN-'�'-� s<''r �i..,�taI .�.t' s
`?q a'd�k � - ` vs � ,�€:.+'�'� ay.4,t rw '�'r"��i'+,ter .#` obi.�""� i �•C4 3 8ss ....� �i�. 'uR§(��`,�`'`Nr x �. z
Administrative Allowance 250,000
Other Funds 464,710
Total 714,710
Significant Changes
Pursuant to AB x126 and AB 1484,the Successor Agency receives RPTTF funding from the County Auditor-
Controller to pay Enforceable Obligations. The Successor Agency also receives a 3% or minimum o
$250,000 for administration of the winding down of the former Redevelopment Agency per fiscal year.
Administrative costs associated with the "wind down" and dissolution of the Redevelopment Agency that
exceed the administrative cost allowance will be funded by Other Funds, pursuant to State rules.
Administrative expenses include: personnel costs, legal, and other professional services expenses
associated with the dissolution and administration of the Successor Agency.
Res. No. 2014-05
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF HUNTINGTON BEACH )
I, JOAN FLYNN, Secretary of the Huntington Beach Oversight Board of the
Successor Agency of the Former City of Huntington Beach Redevelopment Agency, Huntington
Beach, California DO HEREBY CERTIFY that the foregoing resolution was duly adopted by the
Huntington Beach Oversight Board of the Successor Agency of the Former City of Huntington
Beach Redevelopment Agency at a meeting held on September 22, 2014 and that it was so
adopted by the following vote:
AYES: Board Members: Bone, Carchio, L. Dunn, Fritzal, Harper
NOES: Board Members: None
ABSENT: Board Members: A. Dunn, Delgado
ABSTAIN: Board Members: None
Secret of the Huntingto each Oversight
Board o the Successor Agency of the Former
City of Huntington Beach Redevelopment
Agency Huntington Beach, California