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HomeMy WebLinkAboutSuccessor Agency Resolution 2014-01 and Resolution 2014-02 a Dept.1D ED 14-07 Page 1 of 2 Meeting Date:2/18/2014 7-0 CITY OF HUNTINGTON BEACH g' REQUEST FOR, SUCCESSOR AGENCY ACTION MEETING DATE: 2/18/2014 SUBMITTED TO: Honorable Chair and Agency Members SUBMITTED BY: Fred A. Wilson, Executive Director PREPARED BY: Lori Ann Farrell, Director of Finance Ken Domer, Assistant City Manager SUBJECT: Adopt Successor Agency Resolution Nos. 2014-01 and 2014-02 approving the Recognized Obligation Payment Schedule (BOPS) and Administrative Budget for the Huntington Beach Successor Agency for the period of July 1, 2014, through December 31, 2014, in accordance with Health and Safety Code Section 34177 and related actions Statement of Issue: The Successor Agency is requested to approve the Recognized. Obligation Payment Schedule (ROPE) and Administrative Budget for the period of July 1, 2014, through December 31, 2014. An approved ROPS must be submitted to the Department of Finance (DOF) by March 3, 2014. Financial Impact: The ROPS provides the County Auditor-Controller with the amount of the former Redevelopment Agency's enforceable obligations for which the Successor Agency anticipates incurring expenditures. 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. Successor Agency Recommended Action: A) Adopt Resolution No. 2014-01, "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 1,2014 through December 31, 2014 ("ROPS 14-15A");" and, B) Adopt Resolution No. 2014-02 "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 of July 1, 2014 through December 31, 2014." Alternative Action(s): Do not adopt the Resolutions 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 the Successor Agency's maximum administrative cost allowance for the period covered by the delinquent ROPS. Item 7. - 1 - - Dept.ID ED 14-07 Page 2 of 2 Meeting Date:2/18/2014 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 recognized enforceable obligations, as defined in the law. The Recognized Obligation Payment Schedule for July 1, 2014, through December 31, 2014, 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 (DOF) 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 DOF. The Administrative Budget for the July 1 through December 31, 2014, period reflects a total of $250,000, which represents three percent (3%) of the projected property tax receipts during this period. Environmental Status: Not Applicable Strategic Plan Goal: Improve Long-Term financial sustainability Enhance Economic Development Attachment(s): 1. Resolution No. 2014-01, "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, 2014 through December 31, 2014 ("ROPS 14-15A")" 2. Resolution No. 2014-02, "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 of July 1, 2014 through December 31, 2014." B - - Item 7. - 2 1L-..ATTACHMENT # 1 SUCCESSOR AGENCY RESOLUTION RESOLUTION NO. 2014- 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, 2014 - DECEMBER 31, 2014 ("ROPS 14-15A") WHEREAS, pursuant to AB xl 26 (as amended by AB 1484, the "Dissolution Act"), the I 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, 2014 and continuing through December 31, 2014 ("ROPS 14-15A") which is attached hereto as Exhibit A; and After reviewing ROPS 14-15A, 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 14-15A; 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 14-15A 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 14-15A on the Successor Agency website once approved by the Oversight Board to the Successor Agency; (ii) transmit ROPS 14-15A 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 14-15A as may be necessary to submit ROPS 14-15A in any modified form required by DOF, and ROPS 14-15A as so modified shall thereupon constitute ROPS 14-15A as approved by the Successor Agency pursuant to this Resolution. 14-4117/105167 1 Successor Agency Resolution No. 2014- Ol 4. The Successor Agency authorizes the Executive Director, or designee, to make such non-substantive changes and amendments to ROPS 14-15A as may be approved by the Executive Director of the Successor Agency and its legal counsel, and ROPS 14-15A as so modified shall thereupon constitute ROPS 14-15A 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 2014. Chair an REVIE D D APPROVED: Ex"'ti GPirector AP ED AS TO FORM: M'�� gency ounsel I\N 2 13-3 914/101076 Successor Agency Resolution No, 2014- 01 EXHIBIT A RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD JULY 1, 2014 THROUGH DECEMBER 31, 2014 ("ROPS 14-15A") [behind this page] rllea Tor me JUIy i, zui4 Tnrougn uecemDer 31, zui4 venoa 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): $ �: 1,095,840 B Bond Proceeds Funding (ROPS Detail) C Reserve Balance Funding CROPS Detail) P, 780,o 510 D Other Funding (ROPS Detail) 3,15,330 E Enforceable Obligations Funded with RPTTF Funding (F+G): $x., 2,4730794: F Non-Administrative Costs (ROPS Detail) %1 2-223,794. G Administrative Costs (ROPS Detail) .. 250,000', H Current Period Enforceable Obligations (A+E): $�' �. 3,589,834 Successor Agency Self-Reported Prior Period Adjustment to Current Period RPTTF Requested Funding 1 Enforceable Obligations funded with RPTTF(E): 2,473,794' J Less Prior Period Adjustment(Report of Prior Period Adjustments Column S) K Adjusted Current Period RPTTF Requested Funding (W) $' 1;841,252 County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding i `io funded,with Rt l TF-". 2 473 794 M- -. Enforceable bl gams,... , - ti > �c- 1�lI ass Prior Period Adjustment(Report of Prior Period Adjustments ColumnAA) , " r: �' N Ad us#�d CurrentPenod''I�PTTF§Re ueatsd Fundin LmAA ,• ' Z 473 794 J � ` Certification of Oversight Board Chairman: Pursuant to Section 34177(m)of the Health and Safety code, I hereby certify that the above is a true and accurate Recognized Obligation Name Title Payment Schedule for the above named agency. /s/ Signature Date + (Report Amounts in Whole Dollars) D E F G H I J K L M Funding Sourc Non-Redevelopment Property Tax Trust Fund Non-RPTTF Contract/Agreement Contract/Agreement Total Outstanding e Execution Date Termination Date Pa ee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds $ 100,244,763 780,570 $. 315,3 1, 1`" .i0." t= In tY; 'f M �. 7 MET tructi 9/14/1998 9/30/2023 PCH Beach Resorts LLC Disposition and Development Merged 5,043,296 N 367,251 Agreement approved on September 14,1998 for the Waterfront Development -n or 6/19/2002 8/1/2024 Bank of New York Trust Co. Tax Allocation Bonds Debt Service Merged 14,409,156 N Payments n or 1/1211999 8/1/2024 Bank of New York Trust Co. Tax Allocation Bonds Debt Service Merged 6,600,976 N Payments 11/17/2010 11/17/2013 Arbitrage Compliance Tax Allocation Bonds arbitrage rebate Merged 500 N 500 Specialist calculation-Federal IRS Compliance 11/17/2010 11/17/2013 Arbitrage Compliance Tax Allocation Bonds arbitrage rebate Merged 500 N 500 S cialist calculation-Federal IRS Compliance n or 6/19/2002 8/1/2016 Internal Revenue Service IRS Arbitrage Rebate Payment Merged N -n or 6/19/2002 8/1/2024 Bank of New York Mellon Tax Allocation Bonds-Payment to Merged 1,539 N Fiscal A ent n or 1/12/1999 8/1/2024 Bank of New York Mellon Tax Allocation Bonds-Payment to Merged 848 N 848 Fiscal Agent 1/3/2001 Harrell&Company Preparation and filing of Continuing Merged 700 N Advisors,LLC Disclosure Annual Reports and Material Event Notices 1/3/2001 Harrell&Company Preparation and filing of Continuing Merged 2,025 N Advisors,LLC Disclosure Annual Reports and Material Event Notices IRE IMF'gz �y y�y // i �... i .� �� ,•; - ,�••,' 0 n or 7/21/2010 8/1/2019 Bank of New York Mellon Legally binding and enforceable loan Merged 2,930,197 N 411,411 agreement with the U.S.Department of Housing and Urban Development for capital improvements tructi 6/1/1999 9/30/2033 CIM Group,LLC and Kane Property Tax Sharing Agreement Merged 12,666,819 N 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. tructi 1/20/2009 9/30/2033 CIM Group,LLC Property Tax Sharing Agreement Merged 989,709 N under the Disposition and Development Agreement(DDA) and Sixth Implementation Agreement for the Strand projects parking structure authorized on January 20,2009. tructi 10/1612006 10/16/2026 Maker Properties&Kane lowner Participation Agreement Merged 5,520,000 N Ballmer and Berkman approved on October 16,2006 for (Report Amounts in Whole Dollars) D E F G H I J K L M Funding Sourc Non-Redevelopment Property Tax Trust Fund (Non-RPTTF) Contract/Agreement Contract/Agreement Total Outstanding 'pe Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired I Bond Proceeds Reserve Balance Other Funds 0 104,11 1 "A 4,111"7 -V d Wit ""'Y' us, Ily 1111� CZ/111'EEL 1, Aw sin ini el K Ity F WE 2 7 kin ........... ELL =t"'Wn r"' 5/10/2011 11/26/2024 Housing Authority Legally enforceable obligation for Merged 713,733 N SERAF Loan repayment tructl 5/28/1991 12131/2017 Abdelmudi Development Owner Participation Agreement/Rent Merged 10,000 N Company Differential Agreement 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. 1 !ties 6/30/2011 11/26/2026 CeIPERS Unfunded CaIPERS pension obligation Merged 2,969,608 N as per CalPERS actuarial valuation as of June 30,2012 Ifies 9/30/2011 11/26/2026 US Bank Unfunded actuarial accrued liability as Merged 564,127 N of September 30,2013 as per actuarial valuation by Bartel Associates,LLC. ities 9/10/2010 10/1012014 Pacific Life Ins Legally enforceable retirement Merged - Y obligation for early retirement incentive program and annuity contract with Pacific Life Insurance Incorporated. !ties 6/30/2011 11/26/2024 CaIPERS/CERBT Unfunded actuarial accrued liability as Merged 247,354 N of June 30,2013 as per Bartel Associates,LLC. !ties 9/3012011 11126/2024 City employees directly Obligation for unused employee Merged 49,662 N involved in Housing and General Leave earned and vested as Redevelopment projects per MOUs and AB 1 X26 and administration 517/2007 4/30/2015 Tierra West Financial and Real estate consultant Merged N (Report Amounts in Whole Dollars) D E F G H I J K L M Funding Sourc Non-Redevelopment Property Tax Trust Fund Non-RPTTF Contract/Agreement Contract/Agreement Total Outstanding e Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Refired 1 Bond Proceeds Reserve Balance Other Funds ,truth 10/2/2000 9/30/2025 Bella Terre Associates LLC Property Tax Sharing Agreement Merged 13,148,725 N required under the terms of the Owner Participation Agreement(dated 10/212000)and Second Implementation Agreement (dated 9/17/2007)for the development of the Huntington Center(Bella Terra). Includes legal requirements to enforce obligation. ,tructi 10/4/2010 7/1/2036 Bella Terra Villas,LLC Agreement approved on October 4, Merged 24,651,414 N - 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. ns 6/17/2002 10/1/2030 City of Huntington Beach Loan repayment for advance made on Southeast Coastal N 27/11 capital projects in FY 2004/05 7/8/2012 7/8/2015 Kane Ballmer&Berkman Payment of litigation costs incurred Merged&Southeast Y through June 30,2012 relating to Coastal application for a Temporary Restraining Order pertaining to the June 1,2012 property tax payments eligible under Health and Safety Code Section 34171(d)(1)(F)as amended by AB 1484 7/8/2012 7/8/2015 Kane Ballmer&Berkman Legal expenses to ensure Successor Merged&Southeast 75,000 N Agency compliance with AB 1 x 26 and Coastal AB 1484 6/15/2010 6/15/2015 Keyser Marston Economic Analysis consulting services Merged&Southeast 100,000 N to ensure Successor Agency Coastal compliance with AB 1x 26 and AB 1484 /yam• \ \. 6 '�� }, �k � \\�,•,.. .\ ;:,�, � / k. ., ..... f� ..� \:;, � � ,� � &� IR RI �,• i tNt of ,r /„ �•, t'�iF3t� ,�y � �/'� �: ski / , y��,:<., �i a/ "�sz_ , ,, /�,. .,�.,\\. �. - �.:, �.,`'I„/�% ,':� .•,� d\.,,, \ r, EN u. >,i': •1� 101�, ,�" � f� .<. ,,,,E ,:. . , %,,. __/?�... (Report Amounts in Whole Dollars) D E F G H I J K L M Funding Sourc Non-Redevelopment Property Tax Trust Fund Non-RPTTF Contract/Agreement Contract/Agreement Total Outstanding e Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds ttl2 1 tt)f120d . e!i v baf GQ to tlUind flEt tf8 d / /., \/, %/ s / \ / /. \ : /lam•.. .// / '� \ 51 i / ink tSU 8 \ /, i, / o / a ,.....:< n,�v :,..,. +, / \ ....ri �. .,i.. //,: ..1. r IS . . _...z .. . ✓ i , \ ., .; M I�;• � rk `d to the,•. �, ,• ,... i �.... T ,:,:.: \ -or s,. "., .,o .,, -.,,/ � -..,,. l ..� /. '. ,,,. '- .,. ,- ,, ,:.::: _. ;a-•.,•• \ ,,,rf ice: r /:. terfrbt►t CC�a Md tat'Slte ,«,/ , / /,,.,. \\. rr \, ' WN, « . ,:=. SsOfTt td Cb / h8 190 A / 7`�7'�' ' 777 2/1/2012 11/26/2024 Successor Agency,Kane Successor Agency administrative Merged&Southeast N 315,' Ballmer,Keyser Marston, obligations relating to maintaining Coastal and Macias Gini& payments on enforceable obligations O'Connell LLP at al and other activities as required by AB 1X26 itions 11/1/2010 11/26/2024 S&S Fencing,Al Fence Fencing to secure Successor Agency Merged 3,500 N Co.,American Fence Property Company l l/l/2010 11/26/2024 TruGreen As needed weed abatement for Merged 4,000 N Agency ro e / !' .✓ �; 11 / \ �. / .\, a \. � �\� � \ ,,/// �.; /�' �• \ \ � Q. �.:. tructi 10/16/2006 11/26/2024 Housing Authority Statutory housing obligation for Pacific Merged N City Project 2/5/2013 2/5/2015 Kane Ballmer&Berkman Payment of litigation costs for property Merged - N tax payments eligible under Health and Safety Code Section 34171(d)(1)(F)as amended by AB 1484 its 10/8/2012 10/8/2015 Vavrinek,Trine&Day Co Statutorily required review/audit to Merged&Southeast - N LLP wind down the RDA,such as due Coastal diligence reviews t 1.112. a ! r• t f , \ / / i, X. \r a/ EtBtl�t'`V"�3„ �' j�� �/ i t�f for., Nth: % .N! / ,✓ //' r�rtt ��l/26l „/ tt a tit cost. • \ ./i '\. ,� - ,� CIS� „�:. /�<.,%/ �� /�., \. �/: .\ 771 4�tt2f3l2' \ CI rttiri tie I� � etn�ttt I' t cost for e' j //r .:" \ \� . / 2 . � INK cr tnn Pro sc� �' t direct M d >. , \.. // // /. / i ��.,N//,rr.: „ ,� /.. •: ,,„ , ;,.;, Cr►SrICI�€(� ' / irec agsei�i, \it 1\ /r \ / =:r% ,,,,;;, i € ,., =,., `. .�iF1aI IS,. errs 11 8tJ E3CK18 t t ;r c / ' ,n or 6/19/2002 8/l/2024 lBank of New York Trust Co.lAmount needed to fund shortfall in Merged N (Report Amounts in Whole Dollars) D E F G H I J K L M Funding Souro Non-Redevelopment Property Tax Trust Fund Non-RPTTF Contract/Agreement Contract/Agreement Total Outstanding e Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obli ation Retired Bond Proceeds Reserve Balance Other Funds ment 1/26/2014 1/26/2017 AON Environmental Liability Policy for Merged 39,551 N Edinger Parcel Policy#PLS 15012298 section 34177(I), 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 availat -ceable obligation. ---F B C ® E F G H Fund Sources Bond Proceeds, , Reserve Balance P �,= Other, RPTTF Prior ROPS RPTTF Bonds Issued Bonds Issued Prior ROPS period distributed as Rent, on or before on or after balances and DDR reserve for next Grants, Non-Admin and nformation by ROPS Period 12/31/10 01/01/11 balances retained I bond payment Interest, Etc. Admin �' n z 12/31/13 gE, dance(Actual 07101/13) should tie to columns J and O in the Report PAs 76,421 11/13) should tie to the ROPS 13-14A distribution )Iler during June 2013 467,800 5,875,998 I•A Enforceable Obligations(Actual should tie to columns L and Q in the Report 67,800 5,26 , 23 Balance (Actual 12/31/13) hould only include the retention of reserves )PS 13-14A eriod Adjustment y .,. hould tie to column S in the Report of PPAs f , o entry required 02 a oti a Z 7 �h Balance ,. :, ,,. =y +2 '3 4 S) $ 56,2544 $' $. s 06/30/14 r ,` olance(Actual 01/01/14) U 6/30/14) should tie to the ROPS 13-14B distribution )Iler during January 2014 315,330 5,655,611 )rceable Obligations(Estimate 06/30/14) 315,330 5,655,611 Balance(Estimate 06/30/14) may include the retention of reserves for 3 13-14B (Report Amounts in Whole Dollars) Period Adjustments(PPA):Pursuant to HSC Section 34186(a),SAs are required to report the differences between their actual available funding and their actual expenditures for the ROPS 13-14A(July through December 201 or the ROPS 14-15A(July through December 2014)period will be offset by the SA's self-reported ROPS 13-14A prior period adjustment.HSC Section 34186(a)also specifies that the prior period adjustments self-reported by S, E F I G H I J K L M I H 1 O P Q F don-RPTTF Expenditures RPTTF Expenditures Reserve Balance Other Funds Hon-Admin Admin Available Available Differ RPTTF RPTTF (If total (ROPS 13-14A Difference (ROPS 13-14A exceed distributed+all other Not Lesser of (If K Is less than L, distributed+all other Not Lesser of authoriz available as of Authorized/ the difference Is available as of Authorized/ total diffs Authorized Actual Authorized Actual Authorized 0711113) Available Actual zero) Authorized 0711113) Available Actual zer $ ? $ - $ 467,800 $ 5,625,998 $ 5,702,419. $ 5,625,998 '$` 5,013,623 $ 632,542 $: 250,000 $ 250,000 $ 250,000 $ 250,000 $ V, 367,049 367,049 "$ 367,049' 367.251 '$ - �i 1,340,469 1,340,469 $ 1,340,469 1,340,469 $ 604,144 604,144 $ 604,144' 604,144 $' 500 500 $ _ 500 500 500 500 $' 500' - $ 500" 27,784 ;$ $ - 1,537 3,074 $ 11537' 1,537 $ 848 848 $ 848' - $` 848! 250 500 $ 260 200 $ 60 1,525 3,050 $ 1,525; 1,525 388,756 388,756 $ 388,756 388,756 $ 677,903 677,903 $" 077,903' 677,903 $ 49,676 49,576 $1 u, 49,576 49,576 20.000 20,519 $ 20,000 694 $ 19,306 �� M �'4 (Report Amounts in Whole Dollars) Period Adjustments(PPA):Pursuant to HSC Section 34186(a),SAs are required to report the differences between their actual available funding and their actual expenditures forthe ROPS 13-14A(July through December 201 or the ROPS 14-15A(July through December 2014)period will be offset by the SKs self-reported ROPS 13-14A prior period adjustment.HSC Section 34186(a)also specifies that the prior period adjustments self-reported by S. E I F G H I J K L M I N O P Q F Von-RP7TF Expenditures RPTTF Expenditures Reserve Balance Other Funds Non-Admin Admin Available Available Differ RPTTF RPTTF (If total (ROPS 13-14A Difference (ROPS 13-14A exceed distributed+all other Net Lesser of (If K Is less than L, distributed+all other Net Lesser of authorb: available as of Authorized I the difference Is available as of Authorized I total diffe Authorized Actual Authorized Actual Authorized 07/1/13) Available Actual zero) Authorized 07/1/13) Available Actual zer ,,�".. ., ads , _ $ $�, $ 467,800 $. 5,625,996 „$ 5;702,419 $ 5,625,998 -$ 5,013,623 „$ 832,542 $,, 250,000 $ 250,000 $. 250,000 $ 250,000 $' $ $. 8,000 12,000 I' ",,w 8;000 $" ` 6,000' " P u. 105,082 105,062 qw,105,062; 105,062 '$ 28,952 28,952 `$ "28,952' 28,952 52,401 52,401 $ 62,401 72,388 $ A . k 6,222 6,222 1 6,222 6,222 25,688 28,259 $ p,25,688; 7,622 $ °,' 18066= <;9 ' 5,000 13,242 $ 5 0 $ 1,840,000 1,840,000 $ 1,840,000' 1,339,050 $ 500,950; ya 0,1 : • 25,000 35,000 ;$ ' '25,000 $ 25,000 2,500 6,500 $ 2,500 $ 2,500` (Report Amounts in Whole Dollars) Period Adjustments(PPA):Pursuant to HSC Section 34186(a),SAs are required to report the differences between their actual available funding and their actual expenditures for the ROPS 13-14A(July through December 201 or the ROPS 14-15A(July through December 2014)period will be offset by the SA's self-reported ROPS 13-14A prior period adjustment.HSC Section 34186(a)also species that the prior period adjustments self-reported by S. E I F I G H I J K L AA N O P q F don-RPTTF Expenditures RPTTF Expenditures Reserve Balance Other Funds Non-Admin Admin Available Available Differ RPTTF RPTTF (If total (ROPS 13-14A Difference (ROPS 13-14A exceed. distributed+all other Net Lesser of (If K Is less than L, distributed+all other Net Lesser of authorh available as of Authorized! the difference Is available as of Authorized! total dills Authorized Actual Authorized Actual Authorized 0711113) Available Actual zero) Authorized 07/1/13) Available Actual zer - $ ..= -$ $ 467,800 $ 5;625,998 $ 5;702,419t=$ � 5;625,998-':$ - 5,013,623 $, 632,542 $` 250000` $ 250,000 $ - 250;000 $ 250,000 $ j $ s 11,700 11,700 -;$ =1.1,700 11,700 9,666 9,666 $ 9666� 9,666 $, = $ $ x $ fre try 13,993 ;$ n $ $ $ a $ - $ •: - 5,298 (Report Amounts in Whole Dollars) Period Adjustments(PPA):Pursuant to HSC Section 34186(a),SAs are required to report the differences between their actual available funding and their actual expenditures for the ROPS 13-14A(July through December 201 or the ROPS 14-15A(July through December 2014)period will be offset by the SA•s self-reported ROPS 13-14A prior period adjustment.HSC Section 34186(a)also specifies that the prior period adjustments self-reported by S, IS I F I G H 1 J K L M N O P Q F Von-RPTTF Expenditures RPTTF Expenditures Reserve Balance Other Funds Non-Admin Admin Available Available Differ RPTTF RPTTF Of total (ROPS 13-14A Difference (ROPS 13-14A exceed distributed+all other Net Lesser of Of K Is less than L, distributed+all other Net Lesser of authoriz available as of Authorized/ the difference Is available as of Authorized/ total dlffe Authorized Actual Authorized Actual Authorized 07/1/13) Available Actual zero) Authorized 07/1/13) Available Actual zer $ $ - $ 487,800 $ 5,825,998 $ 5;702,419 $ k5;625998 $ .5,013,823 $, 832,542„$ 250,000 $ 250,000 '$ 250,000 $ 250,000 $ $ $ a $ �.•. NO $ $' _"•' $ $ 466,164 - $ - 244,702 r s Y p 1,636 750 750 $ 7501 750 4,000 4,000 $ ?,ra 4 000 176 $; 3,822 $ X $ $ '- $ 50.000 50,000 $ 50000 - ;$` juiy 1, Lul4 inrougn uecemoer jl, Lul4 Item# Notes/Comments Successor Agency Res. No. 2014-01 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 special meeting held on February 18, 2014 and that is was so adopted by the following vote: AYES: Katapodis, Hardy, Shaw, Harper, Boardman, Sullivan, Carchio NOES: None ABSENT: None ABSTAIN: None Clerk of The Successor Agency to the Redevelopment Agency of the City of Huntington Beach, California TACHMENT #2 SUCCESSOR AGENCY RESOLUTION RESOLUTION NO. 2014- 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, 2014 THROUGH DECEMBER 31, 2014 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, 2014 through December 31, 2014 ("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 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 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. 14-4117/105168 1 SUCCESSOR AGENCY RESOLUTION NO. 2014-02 PASSED AND ADOPTED by the Successor Agency to the Redevelopment Agency of the City of Huntington Beach at a special meeting thereof held on the / day of 2014. Chair an REVIE E AND APPROVED: Exe ut'' irector APPROVED AS TO FORM: fln n LPgen�cyounsel 14-4117/105168 2 successor agency Reso. 2014-02 EXHIBIT A ADMINISTRATIVE BUDGET FOR THE PERIOD JULY 1, 2014 THROUGH DECEMBER 31, 2014 [behind this page] 14-4117/105168 3 Success®ro gen'q y Ad min StI*#Ive Budget Department Budget Summary Other Funds by Objeet Accourrt 14 �: :: . ,�O,TR r;,V 17©a7 � Y Y� MOPS'i14A '�3= tut RO 3-1 Expen Udi RQRFAdministrat[on,psn} ,..., �. �... .. '. RERSONA!_tSERVlCES, Salaries/Benefits Permanent 198,716 140,330 140,330 PERSONS ERVf` "iMtj4s 14Q,33Q i 330 OPERATING EXPENSES :° Legal Services 75,000 75,000 75,000 Other Professional Services 100,000 100,000 100,000 Administrative Allowance 250,000 88,098 250,000 PEP it+tG,EXPEPitSES' 4?,'�#iQQ �1k33�0g8 42 f iQQ Totals „ 123 71ti 403,428 j%EW6,33W BAP Administrative Allowance 250,000 88,098 250,000 Other Funds 373,716 315,330 315,330 Total . . ...;823 716 ..., 403.428r,. 56533Q. 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 of$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. Item 7. - 21 HB - 1 - r Successor Agency Res. No. 2014-02 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 special meeting held on February 18, 2014 and that is was so adopted by the following vote: AYES: Katapodis, Hardy, Shaw, Harper, Boardman, Sullivan, Carchio NOES: None ABSENT: None ABSTAIN: None CIS of The Successor Agency to the Redevelopment Agency of the City of Huntington Beach, California