Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
Successor Agency Resolution 2013-01 - Approving the Recogniz
e•� Dept.ID.ED 13-04 Page 1 of 3 ^f— Meeting Date:2/19/2013 CITY OF HUNTINGTON BEACH REQUEST FOR SUCCESSOR AGENCY ACTION MEETING DATE: 2/19/2013 SUBMITTED TO: Honorable Chair and Agency Members SUBMITTED BY: Fred A. Wilson, Executive Director/City Manager PREPARED BY: Bob Hall, Deputy Executive Director/Assistant City Manager Lori Ann Farrell, Finance Director SUBJECT: Adopt Successor Agency Resolution No. 2013-01 and 2013-02 approving the Recognized Obligation Payment Schedule (ROPS) and Administrative Budget for the Huntington Beach Successor Agency for the Period of July 1 through December 31, 2013 in accordance with Health and Safety Code Section 34177 and related actions Statement of Issue: The Successor Agency is requested to approve the ROPS and Administrative Budget for the period of July through December 2013. An approved ROPS must be submitted to the Department of Finance (DOF) by March 1, 2013. In addition, pursuant to AB 1484, the Housing Authority and Successor Agency conducted a Housing Due Diligence Review (DDR) in December 2012, in which the Agency had to transfer $1,210,901 to the County Auditor Controller. Also, authorization to increase the RPTTF Budget $528,754 to pay an Enforceable Obligation is requested. Financial Impact: The ROPS provides the County Auditor-Controller with an amount of the former Redevelopment Agency's enforceable obligations. Once approved by the DOF, the Successor Agency will be entitled to receive property tax revenue up to the amount of the DOF approved enforceable obligations included in the Payment Schedule. The Housing DDR transfer of $1,210,901 fund balance is required to be allocated in the Successor Agency Account 35080301.75200. In addition, the prior ROPS for the January 2013 to June 30, 2013 period, was approved with an IRS arbitrage rebate payment of$528,754 which has been approved by the Department of Finance. However, a budget appropriation is required. Item 4. - I HB -82- Dept. ID ED 13-04 Page 2 of 3 Meeting Date:2/19/2013 Recommended Action: Motion to: A) Adopt Resolution No. 2013-01, "A Resolution Of The Successor Agency To The Redevelopment Agency Of The City Of Huntington Beach Approving The Recognized Obligation Payment Schedule For The Period July 1 — December 31, 2013 ("ROPS IV");" and, B) Adopt Resolution No. 2013-02, "A Resolution Of The Successor Agency To The Redevelopment Agency Of The City Of Huntington Beach Approving The Successor Agency Administrative Budget For The Period July 1 — December 31, 2013"; and, C) Increase the Housing Authority's budget for Fiscal Year 2012/13 by $1,210,901 and the Successor Agency budget by $528,754 to pay for Housing DDR and the IRS Arbitrage Rebate. Alternative Action(s): Do not adopt the Resolution and direct staff accordingly. Per Health and Safety Code Section 34177(m)(2), the Successor Agency will be assessed a $10,000 per day penalty for failure to submit the ROPS on a timely basis. Additionally, failure to submit the ROPS within ten (10) days of the deadline may result in a 25% reduction of a Successor Agency's maximum administrative cost allowance for the period covered by the delinquent ROPS. Analysis: As a result of the 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 enforceable obligations, as defined in the law. The Recognized Obligation Payment Schedule for July 1 through December 31, 2013, requests payment for enforceable obligations associated with the former Redevelopment Agency's Tax Allocation Bonds, Development Agreements, legal services, administrative and other costs. The State Department of Finance has the authority to review the ROPS and return it to the Successor Agency for reconsideration and modification. Thereafter, the ROPS shall not be effective until approved by the State Department of Finance. The Administrative Budget for the July 1 through December 31, 2013 period reflects a total of $195,780, which represents three percent (3%) of the projected property tax receipts during this period. As part of the mandated AB 1484 Housing Due Diligence Review (DDR), the Department of Finance, directed the Successor Agency to return $4,860,535 to the County of Orange for distribution to other taxing entities. The Successor Agency is challenging the Department of Finance's denial of the Emerald Cove Lease Revenue Bond payments totally $3.6 million through 2021, and remitted only $1,210,901. The funds were contained in the Housing Authority's fund balance and budget appropriation is required for the payment of Successor Agency funds account. HB -83- Item 4. - 2 Dept.ID ED 13-04 Page 3 of 3 Meeting Date:2/19/2013 The current ROPS (III), for the period of January to June 2013, includes an approved obligation of $528,754 for an IRS Arbitrage refund payment. The Agency's 1999 and 2002 Tax Allocation Bonds were invested in a Bank of America investment instrument, which when the bank was downgraded, the Agency was advised to sell the investment to lock in the gain. Due to the sale, the Agency is required to pay the IRS the excess interest that was returned to the Agency. To make the payment consistent with IRS, the Successor Agency's budget needs to be increased. Environmental Status: Not Applicable Strategic Plan Goal: Improve long-term financial sustainability Attachment(s): 1. Resolution No. 2013-01, "A Resolution Of The Successor Agency To The Redevelopment Agency Of The City Of Huntington Beach Approving The Recognized Obligation Payment Schedule For The Period July 1 — December 31, 2013 ("ROPS IV")." 2. Resolution No. 2013-02, "A Resolution Of The Successor Agency To The Redevelopment Agency Of The City Of Huntington Beach Approving The Successor Agency Administrative Budget For The Period July 1 — December 31, 2013." Item 4. - 3 HB -84- ATTACHMENT # 1 Successor Agency Resolution 12013-01 R ESOLUTION NO. 2013- 01 A RESOLUTION OF THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD JULY 1 —DECEMBER 31, 2013 ("ROPS IV") WHEREAS, pursuant to AB xl 26 (as amended by AB 1484, the "Dissolution Act"), the separate legal entity known as Successor Agency to the Redevelopment Agency of the City of Huntington Beach ("Successor Agency") must prepare "Recognized Obligation Payment Schedules" ("ROPS") that enumerate the enforceable obligations and expenses of the Successor Agency for each successive six-month fiscal period until the wind down and disposition of assets of the former Redevelopment Agency of the City of Huntington Beach; and The Successor Agency staff has prepared a ROPS for the six-month fiscal period commencing on July 1, 2013 and continuing through December 31, 2013 ("ROPS IV") which is attached hereto as Exhibit A; and After reviewing ROPS IV presented to and recommended for approval by Successor Agency staff, and after reviewing any written and oral comments from the public relating thereto, the Successor Agency Board desires to approve the ROPS IV; and All of the prerequisites with respect to the approval of this Resolution have been met. NOW, THEREFORE,the Successor Agency to the Redevelopment Agency of the City of Huntington Beach does hereby resolve as follows: 1. The Successor Agency hereby finds and determines that the foregoing recitals are true and correct. 2. The Successor Agency hereby approves ROPS IV in the form presented to the Successor Agency 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 Successor Agency authorizes and directs the Successor Agency staff to: (i) take all actions necessary under the Dissolution Act to post ROPS IV on the Successor Agency website once approved by the Oversight Board to the Successor Agency; (ii) transmit ROPS IV 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 Successor Agency authorizes and directs the Successor Agency staff to make such non-substantive revisions to ROPS IV as may be necessary to submit ROPS IV in any modified form required by DOF, and ROPS IV as so modified shall thereupon constitute ROPS IV as approved by the Successor Agency pursuant to this Resolution. 13-3645/91032 1 Successor Agency Resolution No. 2013-01 4. The Successor Agency authorizes the Executive Director, or designee, to make such non-substantive changes and amendments to BOPS IV as may be approved by the Executive Director of the Successor Agency and its legal counsel, and ROPS IV as so modified shall thereupon constitute ROPS IV as approved by the Successor Agency pursuant to this Resolution. 5. The Successor Agency does not intend, by adoption of this Resolution, to waive any constitutional, legal and/or equitable rights of 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 Successor Agency and the City of Huntington Beach under law and/or in equity. PASSED AND ADOPTED by the Successor Agency to the Redevelopment Agency of the City of Huntington Beach at a regular meeting thereof held on the day of February, 2013. Chairman RE VIE APPROVED: MT ED AND APPROVED: r C��6� Exe #iti�e'/birector Deputy Executive Director APPROVED AS TO FORM: - ,Agency Counsel 13-3645/91032 2 Successor Agency Resolution No. 2013-01 EXHIBIT A RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD DULY 1, 2013 THROUGH DECEMBER 31, 2013 ("ROPS IV") [behind this page] 13-3645/91032 3 IU: 17a - County: Orange Successor Agency: Huntington Beach Primary Contact Honorific (Ms, Mr, Mrs) First Name Lori Ann Last Name Farrell Title Director of Finance Address 2000 Main Street City Huntington Beach State CA Zip 92648 Phone Number 714-536-5225 Email Address loriann.farrell@surfcity-hb.org Secondary Contact Honorific(Ms, Mr, Mrs) First Name Kellee Last Name Fritzal Title Deputy Director of Economic Development Phone Number 714-374-1519 Email Address kfritzal@surfcity-hb.org cessor Agency: HUNTINGTON BEACH (ORANGE) Debt or Obligation Total I Outstanding.Debt or Obligation $11( )d Outstanding Debt or Obligation Six-Month Tots lable Revenues Other Than Anticipated RPTTF Funding ,rceable Obligations Funded with RPTTF $E iinistrative Allowance Funded with RPTTF iI RPTTF Funded (B+C= D) $f Current Period Outstanding Debt or Obligation (A+ B+C= E)Should be same amount as ROPS form six-month total $E !r Total Six-Month Anticipated RPTTF Funding $� ance (F- D= G) Maximum RPTTFAllowable should not exceed Total Anticipated RPTTF Funding ($; (July 1, 2012 through December 31,2012) Estimated vs.Actual Payments (as required in HSC section 34186 (a)) !r Estimated Obligations Funded by RPTTF(lesser of Finance's approved RPTTF amount including admin allowance or the actual amount distributed) $ !r Actual Obligations Paid with RPTTF $! !r Actual Administrative Expenses Paid with RPTTF istment to Redevelopment Obligation Retirement Fund (H - (I +J)= K) istment to RPTTF (D- K= Q $, of Oversight Board Chairman: Connie Boardman Chair iection 34177(m) of the Health and Safety code, Name Title ify that the above is�a true and accurate Recognized iyment Schedule for the above named agency. /s/ Signature Date RECOGNIZED OBLIGATION PAYMENT SCHEDULE(BOPS 13-14A) July 1,2013 throue nber 31,2013 Funding Sou Total Due During rtract/Agreement Contract/Agreement Total Outstanding Fiscal Year Execution Date Termination Date Payee Description/Project Sco a Project Area Debt or obligation 2013-14 Bon Res Balance Allowance $130r98Z;86 13)266:mad Proc�eed$0°. .wA04;931 A n SSJG;780 1 e .998 9/30/2023 Robert Mayer Corporation Disposition and Development Agreement approved on Merged 5,322,415 7134 9936 D 0 0 September 14,1998 for the Waterfront Development t002 B/1/2024 Bank of New York Trust Co. Tax Allocation Bands Debt Service Payments Merged 16,028,644 1,619,488 0 0 0 .999 8/1/2024 Bank of New York Trust Co. Tax Allocation Bands Debt Service Payments Merged 7,033,802 732,826 0 0 0 r2010 11/17/2013 Arbitrage Compliance Specialist Tax Allocation Bonds arbitrage rebate calculation-Federal Merged 500 500 0 0 0 IRS Compliance f2010 11/17/2013 Arbitrage Compliance Specialist Tax Allocation Bonds arbitrage rebate calculation-Federal Merged 500 500 0 0 0 IRS Compliance !002 8/1/2016 Internal Revenue Service IRS Arbitrage Rebate Payment Merged 0 0 0 0 0 !002 8/1/2024 Bank of New York Mellon Tax Allocation Bonds-Payment to Fiscal Agent Merged 1,537 1,537 0 0 0 L999 8/1/2024 Bank of New York Mellon Tax Allocation Bonds-Payment to Fiscal Agent Merged 848 848 0 0 0 109 7/7/2014 Harrell&Company Advisors,LLC Preparation and filing of Continuing Disclosure Annual Merged 250 250 0 0 0 Reports and Material Event Notices 109 7/7/2014 Harrell&Company Advisors,LLC Preparation and filing of Continuing Disclosure Annual Merged 1,525 1,525 0 0 0 Reports and Material Event Notices Ems t010 8/1/2019 Bank of New York Mellon Legally binding and enforceable loan agreement with the U.S. Merged 3,025,000 425,167 0 0 0 Department of Housing and Urban Development for capital Improvements .999 to November 9/30/2033 CIM Group,LLC and Kane Ballmer gNgqqqqqqfJNpqqqNqNqqNqppqpqqqqqNqqqpNqNqqNNNJHHHNNN Merged 13,319,723 677,903 0 0 0 and Berkman 1009 9/30/2033 CIM Group,LLC Property Tax Sharing Agreement under the Disposition and Merged 1,039,285 49,576 0 0 0 Development Agreement(DDA) and Sixth Implementation Agreement for the Strand projects parking structure authorized on January 20,2009. /2006 Makar Properties&Kane Ballmer Owner Participation Agreement approved on October 16, Merged 5,520,000 20,000 0 0 0' and Berkman 2006 for future development of a 31-acre site located at Pacific Coast Highway and First Street and financed by. property tax allocations. r i 2010 Housing Authority Legally enforceable obligation for SERAF loan repayment Merged 3,331,300 750,000 0 0 0 2011 Housing Authority Legally enforceable obligation for SERAF Loan repayment Merged 706,842 0 0 0 0 1991 12/31/2017 Abdeimudl Development Owner Participation Agreement/Rent Differential Agreement Merged 6,000 6,000 0 0 0 Company approved on 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. '2010 IPPC Unfunded CaiPERS pension obligation as per CalPERS Merged 2,364,734 210,123 0 0 0 actuarial valuation as of June 30,2010 with estimated factor RECOGNIZED OBLIGATION PAYMENT SCHEDULE(BOPS 13-14A) July 1,2013 through December 31,2013.' Funding Sou Total Due During ntract/Agreement Contract/Agreement Total Outstanding Fiscal Year Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation 2013-14 Bond Proceeds Reserve Balance Admin Allowance 2010 10/10/2014 Pacific Life Ins Legally enforceable retirement obligation for early retirement Merged. 104,802 52,401 0 0 0 Incentive program and annuity contract with Pacific Life Insurance incorporated. 1011 CaIPERS/CERBT Unfunded actuarial accrued liability as of June 30,2012 as per Merged 246,371 12,444 0 0 0 Bartel Associates,LLC. 2011 City employees directly involved Obligation for unused employee General Leave earned and Merged 77,792 25,688 0 0 0 In Housing and Redevelopment vested as per MOUs and AB IX26 projects and administration 307 4/30/2014 Tierra West Financial and Real estate consultant Merged 7,500 7,500 0 0 0 9/30/2025 Bella Terra Associates LLC and J1ggJlggggtJNNgqggqHqgggqggggggqggqqqggggNRggq#NgggggN Merged 13,709,675 11840,000 0 0 0 Kane Ballmer and Berkman Z010 7/1/2036 BTDJM.Phase it Associates(DJM) Affordable Housing Agreement approved on October 4,2010 Merged 27,438,830. 25,000 0 0 0 and Kane Ballmer and Berkman for construction of a 467 mixed-use unit project.Project is currently under construction and financed by property tax allocations.Includes legal requirements to implement obligation. 309 Plerside Pavilion,LLC and Kane Owner Participation Agreement(OPA)approved on July 6, Merged 5,000 5,000 0 0 0 Ballmer and Berkman 2009 for the continued redevelopment of the site located at 300 Pacific Coast Highway In Downtown Huntington Beach. Legal services were incurred to amend the legally obligated OPA. . NUMBER 2011 3/21/2012 Van Horn Consulting Assessment for,AES Property Tax Valuation Southeast Coastal S,000 5,000 0 0 0 2011 9/30/2011 Employee 1 Payment of costs Incurred to fulfilled collective bargaining Merged&Southeast 11,700 11,700 0 0 0 agreements for layoffs/terminations of City employees Coastal relating to the dissolution of the Redevelopment Agency per Health&Safety Code Section 34171(d)(1(C) 2011 9/30/2011 Employee 2 Payment of costs incurred to fulfilled collective bargaining Merged&Southeast 9,666 9,666 0 0 0 agreements for layoffs/terminations of City employees Coastal relating to the dissolution of the Redevelopment Agency per Health&Safety Code Section 34171(d)(1(C) 2011 12/23/2011 Employee 3 Payment of costs incurred to fulfilled collective bargaining Merged&Southeast 0 0 0 0 0 agreements for layoffs/terminations of City employees Coastal relating to the dissolution of the Redevelopment Agency per Health&Safety Code Section 34171(d)(1(C) 2011 9/30/2011 Employee 4 Payment of costs incurred to fulfilled collective bargaining Merged&Southeast 0 0 0 0 0 agreements for layoffs/terminations of City employees Coastal relating to the dissolution of the Redevelopment Agency per Health&Safety Code Section 34171(d)(1(C) 012 7/8/2015 Kane Ballmer&Berkman Payment of litigation costs incurred through June 30,2012 Merged&Southeast 0 0 0 0 0 relating to application for a Temporary Restraining Order. Coastal pertaining to the June 1,2012 property tax payments eligible under Health and Safety Code Section 34171(d)('"E)as amended by AB 1484 012' i, _J15 Kane Ballmer&Berkman Legal expenses to ensure Successor Agency coi. ce with .Merged&Southeast 150,000 75,000 0 0 0 AB ix 26 and AB 1484 Coastal' TotalDue D Total Outstanding Fiscal Year Bond Proceeds ' Keyser Marston 'Economic Analysis consulting services to ensure Successor, Agency compliance with AB 1x 26 and AB 1484 ., -._:.._.,...., .. �.. - ..:. ,, -.. . .:: -,•-. ,,. ..r r! r f •.ru• 1lJ,t..�..ri ra rn:a,. - - - -d� - ,_. . ..,.,•. _r.,. ---�._:... ,--�1'.Fr.,.r,. ,'ei ^: , ,.LE tr•r,h•rEet.lr, m,lu _SIISir r - .�..:= - >-.- ..,., I,u n✓o u_,.. ira �.tll'1 -1r .§r...._ � C t , ---..-. '� :.7- 1.�,�.,., .,• y.:= .:<; ,'s' JJ .,:� ,:.,_. ._ ..I:. � .,,_.. .1, -.:..+,_.z- ..x .. ,,. d.i-J c.,__x,C�tl ,a .ir-E. .f,..il_t_..11(.q._i.tji l.t„Ea1t.Lf „..... a•.': �'-.'- a ��-' -- ::sr — — — - I r.•'�` �.4-. .I . � I 1 JU.,_ 11.II_r 1� E l.r :L:-: :!�'J' - no -:�:.: .,...:.:::-.. eYo.l::a n -T� :.;,e,. ., ,•._ r __:.., '.r.r-.,- Lt El�"i T e,�-ri'tli.._rl..l.Jl�i t .t. - w i r _ _. ,.., 1 _ 1 ;, t°d.�rt :.;,.e�l..rine _ J �%7I1 I_ lY. �1 !7{'1. �: � a• ;I'.: - `__ �I� �..r.; - _ -.. -,._ :- <..._=:y'. •,:_:�,r d -.. ?.1 •tll. trJ:,14.� -_,~*_ -. ��>-��L�. -_r._ .,��`- •.t - - - �-":: - <..•t-.-� ..,... _ .:.__:.__.._-,. a._ ._>.-.��..,_. .. .,...._.,«.. .___.:.:,-- •__- _ .. -� ._ - �0:9 - - - t to _. .. ..... ... .. 1 ..,.,:. ,- ....,v, tJ I � It... r;. -. >a t. , ,. _.r rl.TEa:.,ra. ..' �„lul-7 -11 •,•§ + ..#.x� 1.., , _ti..,�CA'.r:•-. � L T,itli,>rd ._,; _I f. _ e._. = at I .7. - ..., �- �, .. --.v, � F• : - _:: -i k ,�^.�u1Cde Il .dor$�`i'�; l..i.jSTl�JrCGl ri,r£t__ - - l - _ — - Al .,:..,. I.r,-s, .„::.�.- -! t r...,� .:,.._: .1x.f3,-x,tl, et� -,Y. � :-,..-�71�LY�Y3 I r �1•,f _ r.0 rx r -d.. E, .. ... :,..- _'�._ :.; ......'- 8 �.4,'.�': :,:.' ..�. .:x.- -�u:'„'� ::J:. _�=-. ',Y-i. .,Y _ ,.E•:'.. .+••..-.'J7 -s ,.:. - -,m,., N ',ssz'bt. ", *fir r:R.h 1. _;1 •'t }"'< •:.',;.r.'f.. �' .�.-:- c ., ,., r, .:..v. .rn Jtl,�f.,�,r t.l.il,ofiii r_..tl f��.nfa'{�IE..,f r..i� .r�, ti: - �4: ..1!1,. - 1 d ' �.,, ....,:.. ..`._'-•... ,..,.,,,<a•*_..:._. _ st b�. .e :.,.d, ...h_. .f. d=f ,.r rr r..v-„ r. } �..at� ntax� ��11 S° _ i,..:; -�.,'t• K ,.--,t..�{I �.»-- ..,:. <..:.. .-, '.x.x__ �.:S,y-Tz`- .._ _;__�.1.�,.�1_.i I��`�,E�.„ay�,:::: .'�`�`k�.:_. �.7K:� C-:L_. k'x _ -- ,"'J.f-�-n: tee.,,, -. r .± 37.._ eei:, .:.,, e <o . .y. 0 ui, _C1C1 -.AIL-iF-f�K ,. - .' I..... } .. Ifa/i .I( e .. .. ,. ,er`7.,v?`%ir..,a sl.. -„ _ _, -.- J;E �1 a _t_'lklld[ tY�"F .idTl�-�lCal-� ,t- t.._-.-. _ _ z..� y _,. .r .r >1. .' .t::. :asi'.� rT�,x:, �I .-?y :-:i --. .: x-`� :.=',-..<,,, •'..:5. r..- e�lr r an, '-fe:7.i-I .,,.,.. �,<l, 'y.. *Gca�" .: ` _• , __--••_.. �- _-":-ram- _. r:-m'-'=- �. ,..,-- r... ..,..'t_, _ f �._::. w. -:3"Y a"'' '-t ...,'!�'4 f4 e ,I. ..._ ,...:. i•�• I >. ,,.,3 ,...... �t o .tnr:al,. _ ....r- r. .lk ire - ;:..:,,:. . ..1, _r ,Jj97,�tlrt' 1� l- k- .. r/�Cf IiI�• � .:�-. ,4- =-a-' r r<, rw ,� :,, - ,....,.. :.,.,-. .. ..i. -. .. ...,,. -, _ _, l S.:•,�.. ell. -i I .•s._: `n , _-., 7,oj :r:{ i : a.x,:,�� �,.,,.i..11_xf{!.. �:1°I.t,... .. m a„ _C._ i d':L..def_ aE,L A{?s?.9 , ,� - _ ♦� :y,,:;:. . :,. o. �Ye •,yo1'.9(^:_ c .,�f-.�.e- $-Y, _ lfir tloellJx�l .�. _ .-�.. a- - . :...- t. 0.' t- � ���7e'hd 4i... _l. •'�'. �' =�. k=" i _ :.; '._..l.,.: 4�,X�:,_.,: rC_i3.,tl•<_�� �.#'i"T,,t •'- -�. ..r« "'?,>�.:,. �. ,,.........xrn' :: '_,.. -e_.m '. *r.::e' :h.-'3-. - __��•—....y= - _ _--__ _ Successor Agenc y,Kane Ballmer, Successor Agency administrative obligations relating to ■Keyser Marston,and Macias Gin[ affih w0c4f-Al &O'Connell LL�■activities Fencing Emerald Cove 2010 Series A Lease Revenue Refunding Blonds I,. As needed weed abatement for Agency proeprty Debt Service Payments Kane Ballmer&Berkman --- ,,, ■■ram r ��������� r•ursuanc .nranu ono--y wur anu,un uv.uu I.F PRIOR PERIOD ESTIMATED OBLIGATIONS vs.ACTUAL PAYMENTS RECOGNIZED OBLIGATION PAYMENT SCHEDULE(BOPS II) July 1,2012 through December 31,2012 , LMIHF Bond Proceeds Reserve Balance Admin Allowance R Payee Descriptlon/ProjectScope Pro)ectArea Estimate Actual Estimate Actual Estimate Actual 9 Estimate Actual .+C Estimate -„"'.";c'... "r�`"^^�•' 1' � �� 4167t 5 SB 3 c .rr..s x•�r:••. "`! r: rs $0; _ _'r_ $U:��•_ _.c -�OS $0, W. �M-$0. ..e5 7i416 _-:+e�.,.$167, .a•;r^.r $ 1 0•r5' D Fund Legally Binding Operative Agreement Principal Amount- Merged C FIW Legally Binding and Enforceable Agreement for Property Merged Acquisition for the Main-Pier Project Zorporation Disposition and Development Agreement approved on Merged 367,89E September 14,1998 for the Waterfront Development ark Trust Co. Tax Allocations Bonds Debt Service Payments Merged ' 1,315,365 ark Trust Co. Tax Allocations Bonds Debt Service Payments Merged 599,049 pllance Specialist Tax Allocations Bonds arbitrage rebate calculation-Federal Merged 50C IRS Compliance pllance Specialist Tax Allocations Bonds arbitrage rebate calculation-Federal Merged C IRS Compliance Lie Service 15th Year Arbitrage Rebate Pa mebt Merged. C ark Mellon Tax Allocation Bonds-Payment to Fiscal Agent Merged - 1,53� ark Mellon Tax Allocation Bonds-Payment to Fiscal Agent Merged C Bank of America Master Repurchase Agreement for Debt Merged C Service Reserve Zany Advisors,L-C! Preparation and Filing of Continuing Disclosure Annual Merged 251 Reports and Material Event Notices iany Advisors,LLC' Preparation and Filing of Continuing Disclosure Annual Merged 1,52! Reports and Material Event Notices ark Mellon Legally binding and enforceable loan agreement with the US Merged 370,17! Deaprtment of Housing and Urban Development for capital Improvements ng Finance Full payment of loan borrowed by Agency for Senior Rental Merged Complex from the State of California :and Kane Ballmer #################q#####q############qgq###qqq###q## Merged 685,40! Property Tax Sharing Agreement under the Disposition and Merged 49,57 Development Agreement(ODA)and Sixth Implementation Agreement for the Strand projects parking structure authorized an January 20,2009 [as and Kane Owner Participation Agreement'approved on October 16, Merged _ 20,00 Irkman 2006 for future development of a 31-acre site located at Pacific Coast Highway and First Street and financed by Property tax allocations. Legal services incurred to eliminate obligation. �rity Statutory Obligations for housing affordability,production, Merged 153,20 reporting and compliance as per Government Code n Statutory Obligations for Housing reporting,auditing,and Merged - 75,00 compliance - - Statutory obligation for housing compliance services pursuant Merged 37,50 to the requirements of Section 33413(b)(4)and 33490(a)(2) ' and(3)of the California Community Redevelopment Law, Health and Safety Code Section 33000 at seq. Covenant monitoring per AB 987 - ind Berkman Statutory obligation for legal,compliance and operations of Merged 75,OC Housing Authority pursuant to the requirements of Section 38413(b)(4)and 33490(a)(2)and(3)of the California Community Redevelopment Law,Health and Safety Code Section 33000 et seq. !rity Legs. ,,orceably obligation for SERAF Loan repayment Merged ,rlh, Ine�l!,,.nF..r�.cl�l.,nl.11,rn<tn„rn�cCe AC!ems„..,•„�,,,,,,,„n nna-„.,.1 -- PRIOR PERIOD ESTIMATED OP'"-'IONS vs.ACTUAL PAYMENTS RECOGNIZED OBLIGATIC DENT SCHEDULE(ROPS II) July 1,2012 through December 31,2012 LMIHF Bond Proceeds Reserve Balance Admin Allowance R ayee Description/Project Scope Project Area Estimate Actual Estimate Actual Estimate Actual Estimate Actual Estimate 71$.:' :55",58M 31 j $0 � 0: elopment Owne r ParUcl poll 0n Agreement/Rent DlffetontlaI Agree ment Merged 6,00( approved on May 28,1991 for the development of the three ' story building at the Oceanvlew,Promenade.The Third Implementation Amendment took effect on November 21, 1994. Statutory obligation for legal,compliance and operations of Merged Housing Authority pursuant to the requirements of Section - 33413(b)(4)and 33490(a)(2)and(3)of the California Community Redevelopment Law,Health and Safety Code - - - Section 33000 at seq. Esq. Statutory obligation for legal,compliance and operations of Merged 15,00( Housing Authority pursuant to the requirements of Section 33413(b)(4)and 33490(a)(2)and(3)of the California Community Redevelopment Law,Health and Safety Code Section 33000 at seq. Unfunded CaIPERS pension obligation as pat CaIPERS actuarial Merged 36,76: valuation as of June 30,2010 - Unfunded actuarial accrued liability as of September 30,2011 Merged 9,401 as per actuarial valuation by AON Consulting,Inc. Legally enforceable retirement obligation for early retirement Merged 19,96! Incentive program and annuity contract Unfunded actuarial accrued liability as of June 30,2011 as per Merged 2,88( AON Consulting,Inc. directly Involved in Obligation for unused employee General Leave earned and Merged .development vested as per MOUs and AB 1x26 'ministration ssoclates Appraisal and Real Estate Consultant Merged 13,001 Financial and Real Estate Consultant Merged - 29,67! Legally enforceable tuition reimbursement benefit as per Merged MOU and AB 1x26 Emerald Cove 2010 Series A Lease Revenue Refunding Vonds Merged 404,56 Oebt Service Payments )clates LLC and ##8##8#8###ggtlNNN#qqq###N#NN#######N#####NtlpffNNNNpp Merged 1,277,60� nd Berkman Associates(DJM) Affordable Housing Agreement approved on October4,2010 Merged 7,20' ,or and Berkman for construction of a 467 mixed use unit project Project is currently under construction and financed by property tax allocations.Includes legal requirements to Implement - obligation. in,LLC and Kane Owner Participation Agreement(OPA)approved on July 6, Merged 4,00 rkman 2009 for the continued redevelopment of the site located at 300 Pacific Coast Highway in Downtown Huntington Beach. Legal services were Incurred to amend the legally obligated OPA. ton Beach Advance from City on construction of Conservancy Grant Southeast Coastal - funded block wall ton Beach Loan repayment for advance made on capital projects in FY Southeast Coastal 2004/2005. ulting Assessment for AES Propety Tax Valuation Southeast Coastal 2,50 Icy,Kane Ballmer Successor Agency administrative obligations relating to Merged&Southeast 167,416 167,416 (eyser Marston, maintaining payments on enforceable obligations and other Coastal d&O'Connell LLP activities as required by AB 1x26 K Allocation Refunding Bonds KAllocation Refunding Bonds KAllocation Refunding Bonds K Allocation Refunding Bonds Cove 2010 Series A Lease Revenue ig Bonds .tion 108 Infrastructure Loan for Iton Properties _ tote]and Mixed-Use Project, L Infrastructure 'roject Additional Parking Ity aty-Very Low Income Units ale Housing Compliance city Redevelopment Law,Health ty Code Section 33000,et.seq. t monitoring per AB 987. ent of SERAF Debt Obligation 2009 Pursuant to AB 1484,repayment to the former Redeveopemtn Agency's housing successor entity for deposit into the LMIHF to make Suppiem Revenue Augmentation Fund(SERAF)payment,subject to the City obtaining the necessary finding of completion. ent of SERAF Debt Obligation 2010 udi Owner Participation !nt/Rent Differential Agreement it enforcement for Affordable projects !d CaIPERS Pension Liabilities Based upon the most recent acturial valuation dated October 2012 for Fiscal Year ending June 30,2011 !d Supplemental Retirement Based upon the most recent acturial valuation dated October 2012 for Fiscal Year ending June 30,2011 s gency Retirement Systems(PARS) ,gable �d OPEB Liabilities Based u on the most recent acturial valuation dated October 2012 for Fiscal Year ending June 30,2011 on for unused employee General rned and vested 3r Agency Compliance per H&S 133 _ rra Parking Infrastructure Property ing Agreement rra Phase 11 The Payee should actually be Bella Terra Villas,LLC Pavilion Owner Participation ent /e Agreement for the Huntington development Project lent for AES Property Tax Valuation �e termination/layoff costs related The total amount of this obligation was increased due to the former employee's filing of unemployment claims for the first and second quarte ution of Redevelopment Agency not file a claim for the third quarter. °e termination/layoff costs related Amount represents cost incurred for layoff of City Employee performing work directly related to the former Redevelopment Agency as per He, ution of Redevelopment Agency Section 34171(d)(1)© :e termination/layoff costs related ution of Redevelopment Agency >e termination/layoff costs related ution of Redevelopment Agency ,n expenses for City of Palmdale et tosantos pursuant to Health and ode Section 34171(d)(1)(F) ;penses for Successor Agency' ice with AB ix 26 and AB 1484 t to Health and Safety Code Section )(1)(F) iic Analysis services related to x Agency compliance with AB 1x 26 A84 pursuant to Health and Safety .tion 34171(d)(1)(F) ton Center Redevelopment Plan (Agency i Cove 2010 Series A Lease Revenue The LMIHF has been retained to pay the Bond debt,and the payment is from the retained LMIHF monies. No RPTTF fudning is requested at t:gi ig Bonds :tty-Very Low Income Units It is the Successor Agency's obligation to include statutory housing obligations on the ROPS and is currently the subject of judicial review and ti obligation is being included to reserve our right to use RPTTF if the Court determines that such obligations are enforceable. Successor Agency Res. No. 2013-01 STATE OF CALIFORNIA COUNTY OF ORANGE ) ss: CITY OF HUNTINGTON BEACH ) I, JOAN L. FLYNN the Clerk of the Successor Agency to the former City of Huntington Beach Redevelopment Agency, Huntington Beach, California, DO HEREBY CERTIFY that the foregoing resolution was duly adopted by The Successor Agency to the Redevelopment Agency of the City of Huntington Beach at a meeting held on February 19, 2013 and that is was so adopted by the following vote: AYES: Sullivan, Hardy, Harper, Boardman, Carchio, Shaw, Katapodis NOES: None ABSENT: None ABSTAIN: None 4 � Cle(LV,of The Successor Pj;ncy to the Redevelopment Agency of the City of Huntington Beach, California ATTAC H M E N T #2 Item a 17 Haya Successor Agency Resolution No. 2013- 02 RESOLUTION NO. 2013- 02 A RESOLUTION OF THE SUCCESSOR AGENCY TO THE ; REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH APPROVING THE SUCCESSOR .AGENCY ADMINISTRATIVE BUDGET FOR THE PERIOD JULY 1 —DECEMBER 31, 2013 WHEREAS, California Health and Safety Code section 341770) requires that the Successor Agency to the Redevelopment Agency of the City of Huntington Beach ("Successor Agency") prepare an administrative budget for each six month fiscal period; and A draft administrative budget for the fiscal period of July 1, 2013 through December 31, 2013 ("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 Successor Agency to the Redevelopment Agency of the City of Huntington Beach does hereby resolve as follows: 1. The Successor Agency hereby fmds 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 Successor Agency does not intend, by adoption of this Resolution, to waive any constitutional, legal and/or equitable rights of 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 Successor Agency and the City of Huntington Beach under law and/or in equity. 13-3645/91031 1 Successor Agency Resolution No. 2013-o2 PASSED AND ADOPTED by the Successor Agency to the Redevelopment Agency of the City of Huntington Beach at a regular meeting thereof held on the /�!7-K-' day of February, 2013. e Ch rman REV AND APPROVED: INI ED AND A ROVED: Ex e/ Director Deputy Executive Director APPROVED AS TO FORM: C�sAgency Counsel 13-3645/91031 2 Successor Agency Resolution No. 2013- 02 EXHIBIT A ADMINISTRATIVE BUDGET FOR THE PERIOD JULY 1, 2013 THROUGH DECEMBER 31, 2013 [behind this page] 13-3645/91031 3 Successor Agency Adopted Budget -FY MUM Department Budget Summary Other Funds by Object Account OTHER FUNDS Percent Change From y_• Prior Year RORF Administration(350) PERSONAL SERVICES Salaries-Permanent 1 5101,267 23B,B29. 100.00% Salaries-Temporary , 30 Benefits ,130 90,943 100.00% 7� 100.00% OPERATING EXPENSES Utilities Equipment and Supplies 31, 6, 00 100.00% Repairs and Maintenance 2,500 00 2,500 100.00% Conferences and Training 71,421 5,679 100.0000 Professional Services 71,421 146,700 100.00% Other Contract Services 146,700 100.00°� Payments to Other Governments .572,113 - Expense Allowances 1,006 Other Expenses 3,900 702i8ST 100.0011/0 NON-OPERATING EXPENSES Debt Service Expenses 5,360,403 5,405, 00 100.00% Transfers to Other Funds 405,000 100.00% '� 100.00% Total 0 0 0 0 6,256,516 6,741,9511 100.OD% Significant Changes Pursuant to Assembly Bill.x1 26,Ahe Successor Agency receives 3%, or$250,000, for administration and the"winding down"of the former Redevelopment Agency. In addition, the Successor Agency receives a distribution of property tax based on the Recognized Obligation Payment Schedule(ROPS)on a semi-annual basis. The Transfer to Other Funds includes the Debt Service payments for Emerald Cove,the 1999 and 2002 Tax Allocation Bonds, and property tax sharing agreements,among other legally enforceable obligations. 117 Item 4. - 21 HB -102- Successor Agency Adopted Budget -FY 2012t13 Department Budget Summary Other Funds by Object Account OTHER FUNDS RORF Administration(3,50) (continued) Change from o e e• Prior Year Deputy Director 0.00 0.39 0.39 0.00 Econ Development Project Manager To'—0 0.78 0.28 (0.50) Real Property Agent" 0.001 0.00 0.47 0.47 Administrative Aide 0.00 0. 9 6.29 0.00 Administrative Secretary 0.0 0.5 0.50 0.00 `A portion of a Deputy City Manageris funded by the RORF Administration Fund(350) "A portion(0.50)funded by the Public Works Department Total 0.00 0.00 0.00 0.00 1.96 1.93 20' g (0.03) " Chan a from 8 0 9 ` , a s a o rsR as {`j j Prior Year 00350 RORF Administration 6,741,951 6,741,951 Total 0 0 0 0 0 6,741,951 5,741,951 118 xB -103- Item 4. - 22 Successor Agency Res. No. 2013-02 STATE OF CALIFORNIA COUNTY OF ORANGE ) ss: CITY OF HUNTINGTON BEACH ) I, JOAN L. FLYNN the Clerk of the Successor Agency to the former City of Huntington Beach Redevelopment Agency, Huntington Beach, California, DO HEREBY CERTIFY that the foregoing resolution was duly adopted by The Successor Agency to the Redevelopment Agency of the City of Huntington Beach at a meeting held on February 19, 2013 and that is was so adopted by the following vote: AYES: Sullivan, Hardy, Harper, Boardman, Carchio, Shaw, Katapodis NOES: None ABSENT: None ABSTAIN: None Clerof The Successor Agency to the Redevelopment Agency of the City of Huntington Beach, California FeB CITY OF HUNTINGTON BEACH COMMUNITY SERVICES DEPARTMENT INTER DEPARTMENT COMMUNICATION HUNTINGTON BEACH To: Honorable Mayor and City Council Members From: Bob Hall, Assistant City Manager Date: February 15, 2013 Subject: Supplemental Communication for Item #4 —Adopt Successor Agency Resolutions No. 2013-01 and 2013-02 approving the Recognized Obligation Payment Schedule (ROPS) and Administrative Budget for the Huntington Beach Successor Agency for the Period of July 1 through December 31, 2013 in accordance with Health and Safety Code Section 34177 and related actions. The attachment to Item #4 ROPS has been amended and the revised copy is attached. The revision is located on page 2 — Summary. On February 14, 2013, the Orange County Auditor/Controller released the Six-Month Anticipated RPTTF Funding and the revised number has now been included on the document. There have been no changes to the outstanding obligations and the change in the anticipated funding does not impact the Successor Agency. Please contact me if you have any questions. Attachment SUPPLEMENTAL COMMUNICATION Meeting Date: Agenda item No. SUCCESSOR AGENCY CONTACT INFORMATION Successor Agency ID: 198 County: Orange Successor Agency: Huntington Beach Primary Contact Honorific(Ms,Mr,Mrs) First Name Lori Ann Last Name Farrell Title Director of Finance Address 2000 Main Street City Huntington Beach State CA Zip 92648 Phone Number 714-536-5225 Email Address loriann.farrell@surfcity-hb.org Secondary Contact Honorific(Ms,Mr,Mrs) First Name Kellee Last Name Fritzal Title Deputy Director of Economic Development Phone Number 714-374-1519 Email Address kfritzai@surfcity-hb.org SUMMARY OF RECOGNIZED OBLIGATION PAYMENT SCHEDULE Filed for the July 1,2013 to December 31,2013 Period Name of Successor Agency: HUNTINGTON BEACH(ORANGE) . Outstanding Debt or Obligation Total Total Outstanding Debt or Obligation $110,987,863 Current Period Outstanding Debt or Obligation Six-Month Total A Available Revenues Other Than Anticipated RPTTF Funding $404,931 B Enforceable Obligations Funded with RPTTF $6,525,998 C Administrative Allowance Funded with RPTTF $195,780 D Total RPTTF Funded(B+C=D) $6,721,778 E �Total Current Period Outstanding Debt or Obligation(A+B,+C=E)Should be some amount as BOPS form six-month total - $7,126,709 $5,974,810 F Enter Total Six-Month Anticipated RPTTF Funding G Variance(F-D= G)Maximum RPTTF Allowable should not exceed Total Anticipated RPTTF Funding ($746,968) Prior Period(July 1,2012 through December 31,2012) Estimated vs.Actual Payments(as required in HSC section 34186(a)) H Enter Estimated Obligations Funded by RPTTF(lesser of Finance's approved RPTTF amount including admin allowance or the actual amount distributed) $3,428,586 $5,346,465 1 Enter Actual Obligations Paid with RPTTF __ $167,416 J Enter Actual Administrative Expenses Paid with RPTTF K Adjustment to Redevelopment Obligation Retirement Fund(H-(I+J)=K) $0 L Adjustment to RPTTF (D-K=L) $6,721,778 Certification of Oversight Board Chairman: Connie Boardman Chair Pursuant to Section 34177(m)of the Health and Safety code, Name Title I hereby certify that the above is a true and accurate Recognized Obligation Payment Schedule for the above named agency. /s/ Signature Date Oversight Board Approval Date: - HUNTINGTON RUCH(ORANGE) RECOGNIZED OBLIGATION PAYMENT SCHEDULE(HOPS 134M) - July 1,2013 through Oecember 31,2013 Funding Source Total Due"""' Contract/Agreement Contract/Ag en[ To[10 tstantling FNcal Vear AM Project Name/Debt Ohli atlon 9...Um Date Termination Date Pa we Desal ion Proect Sc Project Area Debt Obl atim 2013-14 Bond Proceeds ReserveB I nce Admin Allowance gPITF Olher SI Month Total S'M0,90].863+ .:$]:813:265. ..r` -'�$0 /09.93L F+' S14g0 `-3L$6,515�998; ,aw"'x--"50., $],1T6:]O9_ ... - -. .. 1 Aj 2 Hyatt Regenry H untington Beach Project 9/14/1999 9/30/2023 Robert Mayer Corporalon� Dspositan and Development Agreement approvedon Merged y5,322,415 734,936 0 D 0 36],049 '0 _6—10 7p49x` September 14,1998tor[he Waterfront Omelopment 3 2002 Tax Allocation RefundingBonds 6/t9/2002 8/1/2024 Bank of New York Trust Co. Tax ABocnin,Bonds Debt Service Pa menu Mer ed 16,028,644 1,732,826 0 0 0 1.340,469 0 41999 TavAllacation Refundin Bonds 1/12/1999 B/1/2024 Bankof New York Trust Co. Tax Akocalion Bonds Debt Service Payments Merged 7,033,802 732,826 D 0 0 604,144 0—. '604iT44� 5 2002 Tax Allocaton Refunding Bonds 11/17/2030 12/17/2013 Arbitrage Compliance Specialist Tav Allocaton Bonds arbitrage rebate calculation-Federal Merged 50D 500 0 0 0 500 -0 IRS Com Ilanca 6 1999 Tax Allocation Refunding Bonds 11/17/2030 11/17/2013 Arbitrag<Compliance Specialist Tax Ailoo[am Bonds arbtn..e rebate calculation Federal Merged Son BOG 0 0 0 S00 0 500 IRS Compliance 7 2002 Tax Allocatl0n Refundn Bonds 6/192002 9112016 Internal Revenue Service IRS ArbitrageRebateP ment Merged 0 0 0 0 0 0 D B 2002 Tax Ali—Unn Refundin Bonds 6/19/2002 Bit/ Bank of New York Mellon Tax Allocaton Bonds-Pament to Fiscal A arm Merged 1,537 1,53] D 0 0 1,948S37 0 -' 1i53T. 9 1999Tax Allocation Pefuntling Bonds 1/12/1999 9/1/2024 - Bankof Newyork Mellon Tax Allocation Bonds-Pa ment to FiscalA ent Merged 848 84B 0 0 0 848 0 10 2002 Tax Allocation Refunding Bonds 7/7/2009 7/7/2014 Harrell&Company Advisors,LLC Preparatmn antl ROng of Continuing Disclosure Annual Merged 250 250 0 0 0 250 0'- 4 =250 Reports and Material Event Notices ` 31 1999Tax Allocation Refunding Bonds ]/7/2009 7/7/2014 Harrell&Company Advisor,LLC Preparaticn and filing of Continuing Disclosure Annual Merged 1,525 1,525 0 0 0 1,525 0 i'.i'-� a515 'F,�. � •..'. Reports and Material Event Notice, 0 mom 13 HUG Section 109 I f t—tue Loan for 7/21/2010 8/1/2019 Bank of New York Mellon Legally hmdmgand enforceable an agreement with theU.S.Merged 3425,167 0 D 0 388,756 0HOU/Hliton Pmperbes Oepartment of Housing and Urban Oevelopment for capital 14 Strand Hotel and Mixed-Use Prolect, June 1.9 to November 9/30/2033 CIM Group,LLC and Kane Balmer gppgppyggNlJpppNNNNNNRYppBBKBgJINRWIggpgpgplMtlIMIMRR Merged t3,GZSOQG 3,319,723 67],903 D 0 0 677,903 0 6 Parking&Infrastructure 2008 and Berkman 15 Shand Project Additional Parking 1/20/2009 9/30/2033 CIM Group,LLC Property Tax Sharing Agreement under Me Oispositlon and Merged 3,039,285 49,576 U 0 0- a9,576 0 Oevelepmmt Agreement(DDA)and Sixth implementation Agreement for heStrand projects parking structure _ authorbed on January 20,2009. � 1 16 Pacific City 10/16/2OD6 Makar properties&Kane Baiimer Owner",timpabon Agreement approved on OcWbm 16, Merged S,S20,000 20,000 0 0 0 20,000 0,- 'F^"20 OOfl_E and Berkman ME for future development of a 3l-acre site located at Pacific Coast Highway and First Street and financed by property tax,focationsall fml� 19 Repayment of SERAF Debt Obligation 2009 S/10/2010 Housing Authority Legally enforceable obligation for SERAF Loan repayment Merged 3,331,300 750pp0 0 0 0 ]50p00 0 4.].50,000 r #• 20 Repaymmtof SERAF Debt Obligation 2010 5/10/2011 Housing Authority Largely enforceable obligation for SERAF Loan repayment Merged - ]D6,B42 0 0 0 0 0 0 .:' 11 Abdelmudl Ownes Participation 5/28/1991 ]2/31/2017 Abdelmudi Development Owner Pariopatcr,Agreement/Rent Dffefenlial Agreement Mergetl_ 6,000 6,000 D 0 0 6,000 0 6,Q Agreement/Rent O,fferential Agreement Comparri approved on May 29,1991 fo t the development of the three -s ,•,,,_ story m building at the Oces ,ew Promenade The Third Implementation Amendment took effect on November 21, _ 23 Unfunded WERS Pension Uahlilttes 6/30/20]0 CaIPERS Unfunded Call pension ligation as per liPERS Merged 2,369,734 230,123 0 0 0 1Pq'2 0 1Q5;D62= _ actuarial valuation as of June 30,2010 with estimated factor Increase for Fy 12/13 29 Unfunded Supplemental Retiremcnt 9/30/20]1 - US Bank Unfunded--al accrued liability as of September 30,2012 Merged SB9,20B 5],90] 0 0 0 '0 952' LlaNlkles as per actuarial valuation by Bartel Associates,LLC. -- - Oversight Board Approval Date: HUNTINGTON BEACH(ORANGE) RECOGNIZED DBLIGATION PAYMENT SCHEDULE(ROPS 13.14A) July 1,10]3 through December as.1p]3 Funding Source Total Due During Contract/Agreement Contract/Agreement Total Outstanding Fsnl Year Item# Ptoecl Name Debt Obligattbn Execution Date Termination Date Payee Descri tlon Pro ect Sop a Proect Area Debt or Obligation 2013-14 Bond Proceeds Reserve Balance Admits Allowance RPTTF Other Sic MonthTotal 2S Public Agency Retirement Systems(PARS) 9/10/2010 10110120U Pedfic Life Ins Legallyenforceabie-aament abilgatl,,for early retirement Merged 104,902 52,401 0 0 0 5Z,401 0 5,'yZ Ol Notes Payable endue program and annuity contta—kh Pacific LHe _ insurance Incorporated. 26 Unfunded OPEB Liabilities 613012011 CaIPERS/CERBT Unbnded actuarial waned Aability a of lure,30,2012 as per Merged 246.371 12,444 0 0 0 6,222 0 22' g-el Associates,U.C. - 27 Obligation for unused employee General 9/30/2011 City employees directly involved Obligation for unused employee General Leave earned and Merged 77,792 25,699 0 0 0 25,600 0 2S,6n Leaveearnedandvet,di, In Housing and Redevelopment vested as per MOU,and A01X26 projects and admbistralbn 28 Successor Agency Compliance per H&S 5/7/2007 _ 4/30/1014 Terra West F rdal and Real estate cpnsuitant Merged 7,500 7,500 0 0 0 5,000 0"' Code 33433 29 Bella Terra Parking Infrastructure Property 9/30/2025 Bella Tetra Associates LLC and #pWfptlpppppppp#p#ppptl#ppp#ptltlp##ppppp##Wf##pp#p#p#tl Merged 1%709,675 1,840,000 0 0 0 I'M,= 0 °j)4gOQ0y Tax Sharing Agreement Kane Sallmes and Berkman - - 30 Bella Terra Phase it 30/4/2010 7/1/2036 BTDIM Phase ll Associates(DJM) Affordable Housing Agreement approved an October 4,2010 Merged 27,439,1130 25,000 0 0 0 25,000 D'' 25,000.: and Kane Ballmer and Berkman liprconstructbn of a 467 mUW,S,unit project.Project is - emly under conslrucl'on and financed by property tax L ie allocations.Includesiegal requirement—Imphment obligation. 31 Plerside Pavilion Owner Participation 7/6/2009 plerside Pnd"k,n,LLC and Kane Owner Panidpalion Agreement(0PA)approved on July 6, Merged 5,1100 5,000 0 0 0 2,500 0 Agreement - Ballmer and Berkman 2009 for the continued redevelopment of the site located at - —_ 300 Pacific Coast Highway in Downtown Huntington Bexh. Legal sesvkes were Incurred to amend the["ally obligated OPA. �. ;:-E+.��-_�'.�_t.�_' 33 Assessment for AES Property Tax Valuatbn 3/21/2011 3/21/2012 Van Horn Consulting Assessmentfor AESPropedYTax Valuation Sootheast Coastal 5,00D 5,000 0 0 0 5,000 0 34 Employee termination/layoff vests related 9/30/2011 9/30/2011 Employee Payme—fcosts Imumed to fulfilled collective bargaining Merged&5outheast 11,70D 31,700 0 0 0 13,700 0 Y - 11700n' tod'usolution of Redevelopment Agency - - agreemenlsfor layoffs/terminations of City employees Coastal relating to the dissolution of the Redevelopment Agency per Health&Safety Code Section 34171(d)11(C) - - 3S Employeetermination/iayoffcostsrelated 9/30/2011 9/30/2011 Employee Payment cfcmts incurred to fulfilled collective basgaining merged&Southeast 9,666 9,666 0 0 0 9,666 0 to dissolution of Redevelopment Agency agreements for layoffs/terminations ofCity employees , Coastal _ relating to Me dissolution of the Redeyelopment Agency per Heahh&5afery Code Section341711d1(1(C) 36 Employee[e rmination/farffousts related 9/30/2011 12/23/2011 Employee Payment ofcosts incurred to fulfilled collective bargaining Merged&Southeast 0 0 0 0 0 0 0 :". 01-477 y� son to dssolution of Redevelopment Agency agreements for layoffsAerminalions of City employees Coastal relating to the dissolution nfthe Redevelopment Agency Per - - -Health&Safety Code 5ectbn 34171(d)lilC I a^--s�.�'�37 Employeetermination/layoff costs related 9/30/2011 9/30/2011 Empbyee4 - Payment of costs i—mred to fulfilled collective bargainine Merged&Southeast 0 0 0 0 0 0 L 0' to dissolution of Redevelopment Agency agreements for layoHs/terminations of CRY employees Coastal relating[p the dissolution of the Redeveop menl Agency per Health&Safety Code Section 341711d11IC I 38 Litigation expenses for City of Palmdale at 7/8/2012 7/8/2015 Kane Ballmer&Berkman Payment of litigation costs incurred through tune 30,2012 Merged&Southeast 0 0 0 0 0 0 0 0� al.y.Matos,nt,s pursuant to Health and relating W application for a Temporary Restraining Orde r cwItki Safely Code Section 34173(d)(1)(F) per min,to the June 1,2012 property tax payments eligible under Health and 5afery Cade 5ectlon 34171(d)(1)(F)as mended by All 14U - 39 Legal expenses br5ucr:essor Agency 7/B/2012 7/81201S Kane Ballmer&Berkman Legal ex penses to Into re Successor Agency compliance with Merged&Southeast 150,000 75,000 0 0 0 75,Oo0 0 76�000. compKan<e w;th AB Ix 26 and AB 1484 All 1.26 and All 14114 Coastal -- ' pursuant to Health and 5afery Code Section 34171(d)(I)lfl - - r _ �••'"!'1ft Fl�(LY{S� .!���3"L )� � � `�I'�. yyj.� ��( �,�U-LS i � i. I Y� }� �I 4�� .� .��' •r�.X�1i±i�0.P�3^ `' . , ;i -�. In Y T,jt .:.; v, �4,fv'Ep �P �,lit tl Kt i:l r 7L� rlllr _ -�� •' 'r `ac`- k i �lC: 3 lii C 4a�LL'LEiI fA"[i:l Y 1 'j- - 9�. Ad tl •JI _ r -t�l WNW L =7 3oa G �r fil�u� c c�tla ]Sumr 1 'L — I ry — i TrV,J#' rl'4't xuxnnGron eEwcx(GRANGE) Pars to Health and Safety Code NO.,UNS(a) PRIOR PERIDD ESTIMATED OBLIGATN)NS vs.ACTUAL PAYMENTS NECDGNRED DBOGAMN PAYMENT SCXEDULE(ROM ill My 1,2012—gh December 31,2912 LMIXF Bond Proceeds Reserve Balance Admire Allowance RPTTF O[har hemN Pr k N yD bt OhllpHon Pry e D ptb,SyPrajett Yope Proe A ima[e A Lual E ten to sl E[Imat al E Alt..1 E imete Actual Estimate Act 1 �_� ..sue"=n�._ .. :.��'s-j' '"' _:. .,�•�r:. 50,. 2'.,. 50 :'So, - '=$0 $O.Is,. c�-.cif$0 x16]O36 r.$36]Al6 �$iS8D.531 i. '-$5,346A65 sr-- ..$ � -^$0': P3,Line 19 Land Sate Em..W Cove CDHB Park A land Lega0y Binding OpentWe Agreement PdncipelAmounI Merged 0 0 P2.Una1 Metre-Pier Punhase loan Repayment Housing Aulhenry Le{epy 8lMin{and Enforceebk Agrttmentfa Rapetly Merged Acquisition for the Main-Plcr Pmlect P2,LIne2 Hyatt Regenry Huntl,,,o Beach Pmkct Robert Meyer Urpora0on Dlspeslto-and Development A{reement app don Merged 36],B% September 34,1998 for the Wetartmnt Oavebpment P2,Line3 200E Tax Apoatbn Refundin Bells Bank of New York Trurt Ce. Tax Allom6ona Bonds Debl SeMm Pe Merged 1,315,369 1,335,369 P2,LIne41999 Tax A9oatlon Refunding BOMB Bank of New York Trmt Co. Tax Allo fi-,Bonds Debt 6erv1ca Payments Mer atl S%'1. 99pa P2,LIne5 200E Tax AS—Refundng Bells NWtrage Umplknce Specia9st Tax AlloNtlons Ronde arbitrage abate alcul.Hon Federal Me W 5 0 0 IRS Umpiknm 0 P2,Une6]%9Tax ABoatlon Refunding BOMB Arbitrage(OmplWrice Speck0sl Tax Allaauons Bonds arblNege abate caiculetlon-Paderel Merged IRS UmPiknm P2,Line]200E Tex AII.I.on Refundb Bands Inl 0Reverme Service 15lh Year Arbihage Rebat.P mebt MCr M 0 P 2,UM8 200ETax Allocaxon RefuMW Bands 8ankof New Yerk Melba Tax Allacaxon BeMs-Pit meat to—.1A n Meretl ],53] 1,83E 0 P2;Une91%9TU AIII-ion Nelunding Bends Bank of New Yolk Melba Tax All...Hon Bonds-Pa meat to".1 Aenl Merged 0 0 P2,Line 10 200E Taa Allomlion Refunding Bonds wit. Bank W America Master Repurchase Agreement for Oebl Merged .N.IC Reserve K,Lae L1 2002 Taa MIN—NeNMing RoMs Hemell&Comps Advieo MC Preparation end FIRM of Comte Dbcbsure Mnual Merged 250 250 Reports and Material Event Notices p2,Une 12 1999 Tn MI-1—Retelling BorWs Hamell&UmpanyAtivisors,LLC Prepan[lon end i1111q Wfontbuing oisrlesure Mnual Merged 1,500 Reports and Materiel Event Notices P2,11na 13 HUD Secbn 30g lnhartrutture loan for le-1New York M.Ilon Legally 1,1 d 9eM enfomeabk loenagnemem wNh the US Merged 3JD,1]S 3J0,]]5 Hyatt/H9bn properties 0 No-- of Housing end Urban Development for c.pilel improavnems oan 0 P2,Line 14 HEIowa P Bowan—A Ulf"". Housing pa ilnana Pull yment of l bonowetl by Agency for Senior Renkl Merged Autheriy COm kx hem Hce 4a[e of Ca111ernle P3,Line1 Sl MHotel and Mix.tl Ux Pmlect,Pvking CIM Group,LI.C.nd Nana Ballmer NPNNNNtltlNNNN#BNtltltlppAANNNN0—INUNNNNNNNNNINNNN.Merged 685.403 6]>,903 &iMraelntture lmplementiry Agreement all Berkman P3,Ltne2 N.Prated Add11—Perking CIM Group,LLC Property T.Shade Agreement under the Dlsp W-.and Merged 49,SJ6 49,5]6 Oevebpment Agreement(DDA)and Sixth Impkmentatbn Agmem.nt for the Strend projects parking structure aulharieetl on sanuery 20,i009 P3,Lime pacific ty Maker Properties and Kane Owner Partkipatlon Agmement approved on October 36, Merged 20,000 20,000 Bell-...d Berkman 2006 for future develop-0133-acre ske baled of Paci0c Coast Highway and Fill Street entl Onenced by properly[aa elbcaxons.Legei servinsiricurred to eliminate obng.tl P3,line4 Covemnl Monitoring pbliea[bns o2 Xeuzln{Authority Statutory Dbligetlons for ho ng a(fwdebility,p,WoOo, Mergetl - 193,20E 153,20E Housing Authority rep.W..andc ,dance es Per Government Co de 13,Lm.i Ho...Auth.elly versant Menitadn{per Keyser Maroon Statutory awiptbns for Heuslnereporti_audltin4 aM Merged ]5,000 2 AB 98] complla,sce P4,LInel AHordebk Heusing f Wllenm pursuant to Amerinetbnel Slatwmy od'ga[ton for housing oempIl,,co services pursuant Merged 3],500 D the requlnments of S ,l 33413(h)(4) _ to tM mgWrements of Section 93413(b)(4)aM33490(.1(2) aM 33490(a)(2)and(3)of the Ullfarnk ell(3)of Use Ulifornia Community PedevebpmeM law, Community Pedevelepment Law,Health Health and 9efery CMe Secton MOO M seq.Covenant all Safely Code Seclbn 33000 e1 se9. IMr,koring perAB%] Covenant monitoring Per A8 9B7 - P4,Lme2 Aff.M.ble Xousing Compliance pursuant to Nane Bellmer and Berkman .W,,oblig.tbn for legal,compliance all operations of Merged - 75p00 39,02E 1, ill requlnmentz of Settion 33413(h)(4) If e,s A,Ahoriryp.m.aWtherequirementsof Senlon and 33490(a1(2)and(3)of the Ulifornia 33413(6)(4)and 33490(a)(2)and(3)of the C.Ilbrnk amunily R.d"opment Uw,X e Ith Community Redevelopmentaw,t ,Health aM Safely Code _ nd Sefery Code Section 330.It seq. Seclbn 33000 et seq. Covenant monitoring Per Art 997 0 P4,Line3 Reprvmenl of SEMf Oeb[pblige[1on 2009 H using AuNeriry. LeBalN enbraably ebiga[lon for SERAf Loan repayment Mergetl 0 0 P4,Lino4 Pepaymen[oI SERAF Oebl Dbllgatlon 2010 Hewing Authority Legally enbrceeblyebllga0en for SERAF Loan repayment Merged HUNTINGTON BEACH(ORANGE) - PursuanttoH M alrtl 5afetV Cade sectbn 34186(3) -DR PER—FSTIMATED DRUGAi1DNS vs.AMAL PAYMENTS RECOGNQED OBUGATION PAYMENT SCHM.JRDP511) July 1,—2 though Dttlmbee 31,2812, IMIHF Bond Proceeds Reserve Balance Admin Albwence RPTTF Dther Ramp Pm1—Name/Debt Dblg P O ptlon/Prol sty a Pro ectA E 1 A t el E ua E 4wt Ertl t Acual E to AC[ual EU t Actual ..`�=?...5 �_': .:.". -_ _."\�<i1� .. .: :_y. .' .a3.......:' x•sJO: '-. ;,ice.: $� � �v$0 ::I K-5 Abdalmudl Dwner Partidpatbn Abdelmudi Development Owner Participa[bn AgreementJ0.en[DlHereMlal Agreement Merged 6,000 1 6B Agreement/bent Oiffarentlel agreement CamMnY apDrowd on Mey]8,1991 brthe development of the[hrta rtory building at the 0ttanvlew Promenade.the TWrd - Imylementadon Amendment Soak eff—on Nevembar Zl. 1994. P4,Line] pWbbpppbYpbppppppppppppptlppppptlpppA Grace Jo,Esq. Stet—o oblKatlon far kQd,WmIlance and op—dons of Merged Housing Authority pursuant to the requlromanh of Section 334131bI14)end 334901e1(2L and(3)of She Cepbrnla Unity 0.edevebpment Law,Health and Safety Code S.—330 W et seq. 14,U.. pppppppNYppYNppppRllpNYppptlppppppptlpp Jessica Lethem,Esq. tatutory edKetbn for legal,—pP—and operations of Merged i5,00g 0 Housing A...,punwnt to the-U.—..Of SeNon 33413(bl(4)and 33—(0)(2)end(3)of the Californio Community Redewbpment law,Health and Safety Code Section 33000 et zeq. - P4,tine9 Unf .d CeIPERS Pembn Liablls-1 VIPERS Unfunded CeIPERS pensbn-g.tlon as per CeIPERS actuarkl Merged 36,]62 36,]61 valwtbn a Of'—30,ZOm 9.4BB P4,Line 10 Unf—d Supplemental Retirement US Bank Unfunded act—W attsued ikLUty ea of September 30,Nil Merged 9,/OB llabltltlas per actuarial valuation by qON Consul[InQ,Inc 19,9G5 19,965 P4,Line 11 Public Agency Regrtmem Syltem5(PM) PaciRc We lnx Lega0y enbrttable re[i�emen[obligatlon br early rtirement Merged Notes Payable In—Nve Ore6nm aM annURy comrest 2,BBB 2,880 P4,Llne 12 Unfunded DPES LIabilitles CeIPERS/CERBT UnN—d actuarklamued U.Wflty es.--30,2811 es per Merged- ADN Con-.&Inc. 14.tme 13 ObIKsUon br unused empbyea Gecenl Gry employees dirtttlyimdved in DMigation for Unused empbvee General Lem earned and Merged Leave earned and vas\ed Housing and Redevelopment vested as per MDU s and AS 1.26 Protects and AdmMis[ratbn 2,3W 14,the l4 Successorq enc C Na asaU aM Assaletes gDWelsal and Real ESH[e Consultant -,pd P4,U.,15 Su so,A,-cy CornDllance per HgS le,.West Financbl aM Re al E-t.Co .101 Merged 29,6]5 4,3]B ade33433 0 0 P4,Line 16 cagily enlorttable obiKatbnas per Wis Gomez Legapyenlorttable tWtlon rNmbursement benefit as per Merged M<mwandum of Understanding with .DU end AB 1.26 bargaMing uMt PS,Linel Emerald Cove 20105arks Alaan 0.ewnue US Bank Emerald Cove 20105erksglaaze Revenue Refunding Vondr Merged 404,564 404,56N Bonds Oebt. Payments PS,Ltne 28elb Tern PsAinHin/rssiructura Prepedy Bella Tarr,Assodatea LLC and "NpppNYNpppppppbAbPNNYNppRNpPMpppppNYYNpMNNNppppp Merged 1,2]],60D 1,2]],600 _Sharing Agneman[ K,na Belimer end Berkman 7200 7200 PS,LIne3 Bella Terra Phase ll BTOIM Phase ll Associates(OJM) Affordable Housing Agreemem approved on Oc[obr 4,2G30 Merged and Kane B,Ilmar and Berkman br cons\ruction ola 46]miped use unit prolttL Project is - ntW uMer andf a ced by property tee - allocetlons.Ncludestkgal requiroments to implement obIlQNion, 4.— 4,000 PS,LMe4 Pierside PavllNon Owner"Aldpatbn Plersida PavNlio.,LLC and Kane nor Partiripatlon Agreement(DPA)approved on July 6, Merged - A9reament eafl—,antl Berkman 2.9 far She contksued redevelopment of the she braced at S.PaciRe Coast Highway in Downtown HUmingtw Beach. Legal services were Incurred to amend the legally obligated DOA' O 0 16,U-I WIIdIib Care 4n[ar City of H Untineton Beach Advance horn Clry on comtructlon of Conservancy Gnnt SoutMas[Coaskl funded block..If 0 0 P6,LNe2 Opers4w Agreement forth HunlN¢on Ciry ofHunUngton Beach lwn repayrwn[beadwntt made on capital projects In FY SOWheast ComtN each Radevoio pment Prajttt 2004/2005 PG,U.4 Assessment for AES Property Tea Valua0en Van Horn ComulNng Assessment for AES Pmpety Tea Val.— Southeast Coastal 2,500 0 P],LIne3 Enforcement o/Successor Agency 5uccessor Agency,Kane Balimer successor Agency adminls[ntive obligations raletlnH[o' Merged BSouthus[ 16],416 16],416 ompiwr8o and moni[odng per A81K26 antl Berkman,K<yser Manton, ainirig payments en enferceaMa obllptbnz end other Coaa\al arW Madas Ginl&D'ConneB LLP activgleses re—d by AR 1.26 HUNTINGTON BEACH(ORANGE) RECOGNIZED OBLIGATION PAYMENT SCHEDULE(ROPS 13-14A)—Notes(Optional) July 1,2013 through December 31,2013 Item# Project Name/Debt Obligation Notes/Comments 1 Land Sale Emerald Cove 2 Hyatt Re�en_ Huntington Beach Project Actual 2ayee is PCH Beach Reports LLC 3 2002 Tax Allocation Refunding Bonds 4 1999 Tax Allocation Refunding Bonds ._ 5 2002Taz Allocation Refunding Bonds 6 1999 Tax Allocation Refunding Bonds _ 7 2002 Tax Allocation Refunding Bonds The Tax Allocation Bond arbitrage rebate payment for Federal l RS Compliance was paid in the January to June 2013ROPS period 8 2002 Tax Allocation Refunding Bonds 9 1999 Tax Allocation Refunding Bonds 10 2002 Tax Allocation Refunding Bonds _ 11 1999 Tax Allocation Refunding Bonds _ - 12 Emerald Cove 2010 Series A Lease Revenue Refunding Bonds _ 13 HUD Section 108 Infrastructure Loan for - Hyatt/Hilton Properties 14 Strand Hotel and Mixed-Use Project, - Parking&Infrastructure 15 Strand Project Additional Parkin -__ 16 Pacific City Y ._.. 17 Pacific CI -Very Low Income Units - _- 18 Affordable Housing Compliance Community Redevelopment Law,Health and Safety Code Section 33000 et.seq. Covenant monitoring per AB 987. 19 Repayment of SERAF Debt Obligation 2009 Pursuant to AB 1484,repayment to the former Redeveopemtn Agency's housing successor entity for deposit into the LMIHF to make Supplemental Educational Revenue Augmentation Fund(SERAF)payment,subject to the City_obtaining the necessary finding of completion. 20 Repayment of SERAF Debt Obligation 2 010 21 Abdelmudi Owner Participation Agreement/Rent Differential Agreement 22 Covenantenfomement for Affordable housing projects 23 Unfunded CalPERS Pension Liabilities _Based upon the most recent acturial valuation dated October 2012 for Fiscal Year ending June 30,2011 24 Unfunded Supplemental Retirement Based upon the most recent acturial valuation dated October 2012 for Fiscal Year ending June 30,2011 _ Liabilities _ .I 2S Public Agency Retirement Systems(PARS)Notes Payable — 26 Unfunded OPEB Liabilities Based upon the most recent acturial valuation dated October 2012 for Fiscal Year ending June 30,2011 = 27 Obligation for unused employee General Leave earned and vested 28 Successor Agency Compliance per H&S Code 33433 _ — 29 Bella Terra Parking Infrastructure Property Tax Sharing Agreement 30 Bella Terra Phase II The Payee should actually be Bella Terra Villas,U-C 31 Pierside Pavilion Owner Participation Agreement ---. 32 Operative Agreement for the Huntington Beach Redevelopment Project 33 Assessmentfor AESProperty Tax Valuation 34 Employeetermination/layoffcosts related The total amount of this obligation was increased due tot he former employee's filing of unemployment claims for the first and second quarter;the employee did to dissolution of Redevelopment Agency not file a claim for the third quarter. - 35;Employee termination/layoff costs related Amount represents cost incurred for layoff of City Employee performing work directly related to the former Redevelopment Agency as per Health and Safety Code Ito dissolution of Redevelopment Agency Section 34171(d)(1)m 36 Employeetermination/layoff costs related to dissolution of Redevelopment Agency 31 Employee termi n ation/layoff costs related to dissolution of Redevelopment Agency 38 Litigation expensesfor Cityof Palmdale et al.v.Matosantos pursuant to Health and Safety Code Section 34171(d)(1)(F) -39 Legal expenses for Successor Agency - compliance with AB iz 26 and AB 1484 (pursuant to Health and Safety Code Section 34171(d)(1)(F) _ 40 Economic Analysis services related to Successor Agency compliance with AB lx 26 and AB 1484 pursuant to Health and Safety . Co de Section 34171(d)(1)(F) L .. - 41 Huntington Center Redevelopment Plan development - - 42 Main-Pier Redevelopment Project Phase li 43 1 Development of Downtown Main-Pier project area _ _ — - 44 1 Third Block West commercial/residential - project -- -- 45 Second Block Alley and Street Improvement Project 46 Strand Project �— - 47 Pierside Hotel/Retail/Parking Structure Project _ — - 48 Waterfront Cmmerdal Master Site Plan HUNTINGTON BEACH(ORANGE) RECOGNIZED OBLIGATION PAYMENT SCHEDULE(ROP513-14A)—Notes(Optional) July 1,2013 through December 31,2013 Item Project Name/Debt Obligation - Notes/Comments 49 Strand Project 50 Enforcement of Successor Agency The Successor Agency to the Huntington Beach Redevelopment Agency does not intend to waive any constitutional,legal or equitable rights of the Successor compliance and monitoring per AB vt26 Agency,its Oversight Board or the City of Huntington Beach and ezpressely reserves any all rights,privileges,and defenses available to the Successor Agency,its •• Oversight Baord or the city of Huntington Beach under law and equity. _ 51 S&S Fencing/Fencing to secure real Purusant to Health and Safety Code section 34171(d)(F),fencing is requried to secure the property that has been transferred back to the Successor Agency property 52 TruGreen/Weed Abatement for real Purusant to Health and Safety Code section 34171(d)(F),weed abatement is requried to secure the property that has been transferred back to the Successor property Agency 53 Emerald Cove 2010 Series A Lease Revenue The LMIHF has been retained to pay the Bond debt,and the payment is from the retained LMIHF monies.No RPTTF fudning is requested at this time Refunding Bonds 54 1 Pacific City-Very Low Income Units It is the Successor Agency's obligation to include statutory housing obligations on the ROPS and is currently the subject ofjudicial review and the Pacific City obligation is being included to reserve our right to use RPTTF if the Court determines that such'obligations are enforceable.