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HomeMy WebLinkAboutSuccessor Agency Resolution 2014-04 and 2014-05 approving th Dept. ID ED 14-35 Page 1 of 2 Meeting Date:9/15/2014 z, CITY OF HUNTINGTON BEACH . . q s= REQUEST FOR. SUCCESSOR AGENCY ACTION MEETING DATE: 9/15/2014 SUBMITTED TO: Honorable Chair and Agency Members SUBMITTED BY: Fred A. Wilson, City Manager PREPARED BY: Lori Ann Farrell, Finance Director Kellee Fritzal, Deputy Director, Office of Business Development SUBJECT: Adopt Successor Agency Resolution Nos. 2014-04 and 2014-05 approving the Recognized Obligation Payment Schedule (ROPS) and Administrative Budget for the Huntington Beach Successor Agency for the period of January 1, 2015, through June 30, 2015, in accordance with Health and Safety Code Section 34177 and related actions Statement of Issue: The Successor Agency is requested to approve the Recognized Obligation Payment Schedule (ROPS) and Administrative Budget for the period of January 1, 2015, through June 30, 2015. An approved ROPS must be submitted to the Department of Finance (DOF) by October 3, 2014. 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 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. 2014-04, "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 January 1, 2015 - June 30, 2015 ("ROPS 14-15B"); and B) Adopt Resolution No. 2014 - 05, "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 January 1, 2015 through June 30, 2015." 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. HB -347- Item 12. - I Dept. ID ED 14-35 Page 2 of 2 - Meeting Date:9/15/2014 Analysis: As a result of the California Supreme Court's ruling on the Dissolution Act, all redevelopment agencies in California were dissolved effective February 1, 2012. The Dissolution Act and AB 1484 describe the procedures to wind down the affairs of the former redevelopment agencies. These provisions include the continued payment of recognized enforceable obligations as defined in the law. The Recognized Obligation Payment Schedule for January 1, 2015, through June 30, 2015, requests payment for enforceable obligations associated with the former Redevelopment Agency's Tax Allocation bonds, development agreements, legal services, and administrative and other miscellaneous costs. This is the first ROPS that includes a potential re-payment to the Housing Authority for the SERAF loans. Once the SERAF loans are repaid, future ROPS may include the repayment of the General Fund loans entered into prior to the dissolution of the Redevelopment Agency between the City and Redevelopment Agency. The State Department of Finance (DOF) has the authority to review the ROPS and return it to the Successor Agency for reconsideration and modification. Therefore, the ROPS shall not be effective until approved by the State DOF. The Administrative Budget for the January 1, 2015, through June 30, 2015, period reflects a total of $250,000, which represents three percent (3%) of the projected property tax receipts during this period. Environmental Status: Not Applicable Strategic Plan Goal: Improve long-term financial sustainability Enhance Economic Development Attachment(s): 1. Adopt Resolution No. 2014-04, "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 January 1, 2015 - June 30, 2015 ("ROPS 14- 15 B") 2. Adopt Resolution No. 2014 - 05, "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 January 1, 2015 through June 30, 2015." Item 12. - 2 11B -348- ATTACHMENT 1 RESOLUTION NO. 2014- 04 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 JANUARY 1, 2015 —JUNE 30, 2015 ("ROPS 14-1513") WHEREAS, pursuant to AB xl 26 (as amended by AB 1484, the "Dissolution Act"), the separate legal entity known as Successor Agency to the Redevelopment Agency of the City of Huntington Beach ("Successor Agency") must prepare "Recognized Obligation Payment Schedules" ("ROPS") that enumerate the enforceable obligations and expenses of the Successor Agency for each successive six-month fiscal period until the wind down and disposition of assets of the former Redevelopment Agency of the City of Huntington Beach; and The Successor Agency staff has prepared a ROPS for the six-month fiscal period commencing on January 1, 2015 and continuing through June 30, 2015 ("ROPS 14-1513") which is attached hereto as Exhibit A; and After reviewing ROPS 14-15B, 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 14-1513; 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 14-15B 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 14-15B on the Successor Agency website once approved by the Oversight Board to the Successor Agency; (ii) transmit ROPS 14-15B to the Auditor-Controller and the County Administrator of the County of Orange and to the State Controller and the State Department of Finance ("DOF"); and (iii) to do any and all things and to execute and deliver any and all documents which may be necessary or advisable. in order to effectuate the purposes of this Resolution. In addition, the Successor Agency authorizes and directs the Successor Agency staff to make such non-substantive revisions to ROPS 14-15B as may be necessary to submit ROPS 14-15B in any modified form required by DOF, and ROPS 14-15B as so modified shall thereupon constitute ROPS 14-15B as approved by the Successor Agency pursuant to this Resolution. 14-4370/112481.doc 1 Successor Agcy Resolution No. 2014- 04 4. The Successor Agency authorizes the Executive Director, or designee, to make such non-substantive changes and amendments to ROPS 14-15B as may be approved by the Executive Director of the Successor Agency and its legal counsel, and ROPS 14-15B as so modified shall thereupon constitute ROPS 14-15B 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 15th day of September , 2014. hair an REVIEWED AND APPROVED: Exe tie irector APPROVED AS TO FORM: Agency Counsel 2 13-3 914/101076 - Successor Agcy Resolution No. 2014- 04 EXHIBIT A RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD JANUARY 1, 2015 THROUGH JUNE 30, 2015 ("ROPS 14-1513") [behind this page] rneu iui one january i, /u io inrougn uune ju, zu-io renoa 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,W,'241.;' B Bond Proceeds Funding (BOPS Detail) _ C Reserve Balance Funding (BOPS Detail) _ D Other Funding (BOPS Detail) 1,643,241 E Enforceable Obligations Funded with RPTTF Funding (F+G): $ `;.'7,868'1358 F Non-Administrative Costs (BOPS Detail) 7,608,358 G Administrative Costs (BOPS Detail) 250,000 H Current Period Enforceable Obligations (A+E): :$� " 9,501,599 Successor Agency Self-Reported Prior Period Adjustment to Current Period RPTTF Requested Funding Enforceable Obligations funded with RPTTF (E): 7,858;358'' J Less Prior Period Adjustment (Report of Prior Period Adjustments Column S) K Adjusted Current Period RPTTF Requested Funding (W) $ 7,7.59,7061- County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding 1W �k Rhfordeable�7bllgations fun ed with RPTTF"{E ' 7,858i358 Z Less Pror PetIod Ad tmen (Report of Pnnr P no Adtustments Gcalumn AA) �<lk _ .; Adjust ed Cur rt^Peiod RPTt ,RqueStedundin 7,858,358 Certification of Oversight Board Chairman: Pursuant to Section 34177 (m) of the Health and Safety code, hereby certify that the above is a true and accurate Recognized Name Title Obligation Payment Schedule for the above named agency. /s/ Signature Date (Report Amounts in Whole Dollars) D E F G H I J K L M Funding Soun Non-Redevelopment Property Tax Trust Fund Non-RPTTF Contract/Agreement Contract/Agreement Total Outstanding Reserve !e Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Balance Other Funds .. `� 463 - "$:: ,„ $ ."1643,2 ucti 9/14/1998 9/30/2023 PCH Beach Resorts LLC Disposition and Development Mergedr 4,914,489 N 975,1 Agreement approved on September 14, 1998 for the Waterfront Development or 6/19/2002 8/1/2024 Bank of New York Trust Co. Tax Allocation Bonds Debt Service Merged 13,050,138 N Payments or 1/12/1999 8/1/2024 Bank of New York Trust Co. Tax Allocation Bonds Debt Service Merged 5,982,295 N Payments 11/17/2010 11/17/2016 Arbitrage Compliance Tax Allocation Bonds arbitrage rebate Merged 500 N Specialist calculation-Federal IRS Compliance 11/17/2010 11/17/2016 Arbitrage Compliance Tax Allocation Bonds arbitrage rebate Merged 500 N Specialist calculation-Federal IRS Compliance or 6/19/2002 8/1/2016 Internal Revenue Service IRS Arbitrage Rebate Payment Merged - Y or 6/19/2002 8/1/2024 Bank of New York Mellon Tax Allocation Bonds-Payment to Merged 1,600 N Fiscal Agent or 1/12/1999 8/1/2024 Bank of New York Mellon Tax Allocation Bonds-Payment to Merged 1,600 N Fiscal Agent 1/3/2001 8/1/2016 Harrell&Company Preparation and filing of Continuing Merged 700 N Advisors, LLC Disclosure Annual Reports and Material Event Notices 1/3/2001 8/1/2016 Harrell&Company Preparation and filing of Continuing Merged 2,025 N 2,( Advisors,LLC Disclosure Annual Reports and .Q Material Event Notices y!/,w^ �, N`� raj y t8 �.�a` C� F' �`r�'' "a�" � 11:: rS r- \,q• ✓��' o wa x� �.' »i n IS,� i �..9„ r�, l'4s,Fl �`a� z'�*r��. Yp or 7/21/2010 8/1/21019 Bank of New York Mellon Legally binding and enforceable loan Merged 2,518,786 N agreement with the U.S.Department of Housing and Urban Development for capital improvements ucti 6/1/1999 9/30/2033 CIM Group,LLC and Kane Property Tax Sharing Agreement Merged 6,748,571 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. ucti 1/20/2009 9/30/2033 CIM Group,LLC Property Tax Sharing Agreement Merged 414,402 N under the Disposition and Development Agreement(DDA) and Sixth Implementation Agreement for the Strand projects parking structure authorized on January 20,2009. ucti 10/16/2006 10/16/2026 Makar Properties&Kane Owner Participation Agreement Merged 5,520,000 N Ballmer and Berkman approved on October 16,2006 for future development of a 31-acre site located at Pacific Coast Highway and (Report Amounts in Whole Dollars) D E F G H I J K L M Funding Sour( Non-Redevelopment Property Tax Trust Fund Non-RPTTF Contract/Agreement Contract/Agreement Total Outstanding Reserve €e Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Balance Other Funds .s ,..e, F fi fi L. F PA I. f ,5, $•'"" Ei-, e'f, � .11i .'a <R.. � ,cif,': � w i,�., / k ti' �,.' ,kF, Vic. +'9+. .v_3,r•'> :'.';Yy„ OWN Y��f '€:; 1 ��t,� � •�d� Y , f f•C' u , 5/10/2011 11/26/2024 Housing Authority Legally enforceable obligation for Merged 720,693 N SERAF Loan repayment ucti 5/28/1991 12/31/2017 Abdelmudi Development Owner Participation Agreement/Rent Merged 10,000 N 10,( 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. .3s 6/30/2011 11/26/2026 CalPERS Unfunded CalPERS pension obligation Merged 2,969,608 N as per CalPERS actuarial valuation as of June 30,2012 as 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. as 6/30/2011 11/26/2024 CalPERS/CERBT Unfunded actuarial accrued liability as Merged 247,354 N of June 30,2013 as per Bartel Associates,LLC. as 9/30/2011 11/26/2024 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 1X26 and administration 5/7/2007 4/30/2015 Tierra West Financial and Real estate consultant Merged Y ucti 10/2/2000 9/30/2025 Bella Terra Associates LLC Property Tax Sharing Agreement Merged 12,685,312 N required under the terms of the Owner Participation Agreement(dated 1012/2000)and Second Implementation Agreement (dated 9/17/2007)for the development of the Huntington Center(Bella Terra). Includes legal requirements to enforce obligation. ucti 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. s 6/17/2002 10/1/2030 ICity of Huntington Beach ILoan repayment for advance made on ISOUtheast Coastal N (Report Amounts in Whole Dollars) D E F G H I J K L M Funding Sour( Non-Redevelopment Property Tax Trust Fund Non-RPTTF Contract/Agreement Contract/Agreement Total Outstanding Reserve e Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Balance Other Funds 7/8/2012 7/8/2015 Kane Ballmer&Berkman Legal expenses to ensure Successor Merged&Southeast 75,000 N 75,( Agency compliance with AB I 26 and Coastal AB 1454 6/15/2010 6/15/2015 Keyser Marston Economic Analysis consulting services Merged&Southeast 100,000 N 100,( to ensure Successor Agency Coastal compliance with AB 1 x 26 and AB (; 1454 s '� y�� wo, • ' v,>a s„ urr' g t ✓, , ..f..'" 3.,.,,.,.. ,. n., ,,: :�:;, .,,x.�. v-.n .(.4�?.» •;..i;=,. --- ':'-: t1F ;.. it `•.;@'>-. .f:','t?i /> y b TvT Y ?= C i"' ( v`'.: a 9' „- ir✓' )' 'k' .-,�M ..,tA:a /r F .�$Tk,>a f I�+,N.,. II } .aA r z n may,. " rizh s , of �t E, "'m wq I RN 31 �A N . ,;'v „ry ,;N ,,. 3 p � -:r 2/1/2012 11/26/2024 Successor Agency, Kane Successor Agency administrative Merged&Southeast 714,710 N 464,; Ballmer, Keyser Marston, obligations relating to maintaining Coastal and Macias Gini& payments on enforceable obligations O'Connell LLP et al and other activities as required by AB 1X26 ions 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 11/1/2010 11/26/2024 TruGreen As needed weed abatement for Imerged 4,000 N (Report Amounts in Whole Dollars) D E F G H I J K L M Funding Sours Non-Redevelopment Property Tax Trust Fund Non-RPTTF Contract/Agreement Contract/Agreement Total Outstanding Reserve e Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligati n Retired Bond Proceeds Balance Other Funds 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 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 r%. `� f k2 Cas �t�' ��v dt �±u�i'}S�fci`; uk`. .,�., <��� � rrx�.u' /`a--. -�.. G• F� "3u •„{„ qq T Q - "y .�i- „�„!1 S... �IS� I`xt� 4 �', s. .c,r.;; x t. pro+ ' .. �n ; ZIA r or 6/19/2002 8/1/2024 Bank of New York Trust Co. Amount needed to fund shortfall in Merged N bond reserve account 11/4/2013 11/4/2016 Vavrinek,Trine&Day Co Statutorily required annual financial Merged 10,000 N LLP statement audit of Successor Agency. ent 1/26/2014 1/26/2017 AON Environmental Liability Policy for N Edin er Parcel Policy#PLS 15012298 „ „E �, ons 12/1/2009 6/30/2014 TBC Corporation Return of Security Deposit Payment Merged 15,000 N 15,( upon lease termination 5/10/2010 11/26/2024 Housing Authority Legally enforceable obligation for Merged 3,418,477 N SERAF Loan repayment N N N N N N N N N N N N N N N N N N N fety Code section 34177 (1), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other fundii 2rty tax revenues is required by an enforceable obligation. For tips on how to complete the Report of Cash Balances Form, see https://rad.dof.ca.gov rad- ncV Tips Sheet. df. B C D E F G H Fund Sources Bond Proceeds Reser ve'Balance Other. RPTTF Prior ROPS Prior ROPS period balances RPTTF Bonds Issued Bonds Issued and DDR RPTTF distributed as Rent, Non-Admin on or before on or after balances reserve for Grants, and ice Information by ROPS Period 12/31/10 01/01/11 retained future period(s) Interest, Etc. Admin Col 11/14=06/30/14) ash Balance (Actual 01/01/14) Beginning available ca consists of RPTTF bale retained from the ROP available cash balance 4,865,050 632,542 1,269,362 - to be used in the ROP! ial 06/30/14) tie to the ROPS 13-14B distribution from the ar during January 2014 677,339 5,655,611 S 13-14B Enforceable Obligations (Actual is H4 should equal total reported actual ort of PPA, Columns L and Q 452,840 5,633,380 Cash Balance (Actual 06/30/14) i should only include the amounts distributed for approved in ROPS 13-14B rior Period Adjustment :ie to the self-reported ROPS 13-14B PPA in the S No en#ry required Ae Cash,Balance H = (1 +.2.-3 -4-5) 4,865,050, n 632,542 1,493,861 (76,4 21 (01/14- 12/31114), ash Balance.(Actual 07/01/14) AM H4+ F4+ F6;and;H 5+ 6)'" kv 4,8659050' 632,542 1A93,869A `22;231 mate 12/31/14) tie to the ROPS 14-15A distribution from the er during June 2014 464,710 S 14-15A Enforceable Obligations (Estimate -- -- -- — —413,259 _ 632,512 7,90,040 - — -- -- ants(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 13-14B(January through June 2014)period. The amount of Redevelopment Property Tax Trust Fund(RPTTF)appro, s self-reported ROPS 13-14B prior period adjustment.HSC Section 34186(a)also specifies that the prior period adjustments self-reported by SAs are subject to audit by the county auditor-controller(CAC)and the State Controller. E I F G H I J K L M N 1 O P Q R S Non-RPTTF Expenditures RPTTF Expenditures Net SA No and Adm (Amount I Offset ROP Reserve Balance Other Funds Non-Admin Admin Requested Available Available Difference RPTTF RPTTF (If total actual (ROPS 13-14B Difference (ROPS 13-14B exceeds total distributed+all other Net Lesser of (If K is less than L, distributed+all other Net Lesser of authorized,the available as of Authorized/ the difference is available as of Authorized/ total difference is Net Difk Authorized Actual Authorized Actual I Authorized 0111114) Available Actual zero) Authorized 0111114) Available Actual zero) (M+I .5_• -- $ 452,840. :-5 - 452 840 $ "--'5 643,934 $' - 5,643,934 5,643 934 $ "'5,545,282' $ 98,652 $` •88,098. $ 88,098 $ - 88,098 $ 88,098 $' $ '' - - 734,079 734,079 734,079 734,079 - - 279,019 279,019 -' 279019 279019 - - 128,682 128,682 .128,682 128,682 ' 500 500 500 500 - - 500 500 500: 500 - 1,537 1,537 1,537 1,537 848 848 848 848 250 250 250, 250 - 1,525 1,525 1.525 1,525 447,622 447,822 447,822: 447,822 - d., 702,903 702,903 702903 702,903 - - 49,756 49,756 491756 49,756 - 7,500 7,500 - �7,500 105,062 105,062 ` `105,062 105,062 - 28,952 28,952 28,952 28952 - - - 104.802 104.802 -- 104,802 104,802 �'� '• ents(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 13-14B(January through June 2014)period. The amount of Redevelopment Property Tax Trust Fund(RPTTF)appro, 's self-reported ROPS 13-146 prior period adjustment.HSC Section 34186(a)also specifies that the prior period adjustments self-reported by SAs are subject to audit by the county auditor-controller(CAC)and the State Controller. E I F G H I J K L M I N 1 O P Q R S Non-RPTTF Expenditures RPTTF Expenditures Net SA No and Adm (Amount I Offset ROP Reserve Balance Other Funds Non-Admin Admin Requested Available Available Difference RPTTF RPTTF (If total actual (ROPS 13-146 Difference (ROPS 13-14B exceeds total distributed+all other Net Lesser of (If K is less than L, distributed+all other Net Lesser of authorized,the available as of Authorized I the difference is available as of Authorized I total difference is Net Diff( Authorized Actual Authorized Actual Authorized 0111114) Available Actual zero) Authorized 0111114) Available Actual zero) (M+I $ $ -,r -'452,840-"$ - 452840 $ .-`•5,643,934 $ - --5643,934 $ - 5643;934 $ 5,545282 $'= ; ' 98,652 $ ._ 88,09t31'. $ 88,098 $ 88098 $ 88098 $. $ 1,692,797 1,692.797 `'�1,692,797: 1,692797 1,200,000 1,200,000 1,200,000 1,200,000 - f x' - 57,509 57,509 - - - 48,533 48,533 t rents(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 13-14B(January through June 2014)period. The amount of Redevelopment Property Tax Trust Fund(RPTTF)appro, 's self-reported ROPS 13-148 prior period adjustment.HSC Section 34186(a)also specifies that the prior period adjustments self-reported by SAs are subject to audit by the county auditor-controller(CAC)and the State Controller. E I F G H I J K L M I N 1 O P Q R S Non-RPTTF Expenditures RPTTF Expenditures Net SA No and Adm (Amount I Offset ROP Reserve Balance Other Funds Non-Admin Admin Requested Available Available Difference RPTTF RPTTF (If total actual (ROPS 13-148 Difference (ROPS 13-148 exceeds total distributed+all other Net Lesser of (If K is less than L, distributed+all other Net Lesser of authorized,the available as of Authorized/ the difference is available as of Authorized/ total difference is Net Diffi Authorized Actual Authorized Actual Authorized 0111/14) Available Actual zero) Authorized 0111114) Available Actual zero) (M+I $ 452,840 '$ ' �h452 840 $' 5 643,934 $ - 5,643 934 $ 5 643,934 $" -5,545,282 $ ^98,652 $"' 88,096 $ 88,098 $ 88,098 $ 88,098 - 346,798 346,798 - - - - 88,098 88,098 =u 2,500 2,500 '2500-- 1811 --_689 - 3,500 3,500 - 3 500 3,500 "3 - - 75,000 75,000 75,000 75,000 17,395 17,395 17,395 17,395 - 29,514 29,514 29,514 29,514 - 10,000 10,000 10,000 10,000 jaiwai y i, zu i D tnrougn June iu, zu-i o Item # Notes/Comments . .......................... ............. .......... .............................. ............ .......... .............................. ............. ................. ................................ ................................ ............... .....................— .. ............ ............. ............. ............. ..................................... .......................... .......... .......... .......... ...................... .......... .......... ..................... ........... .......... .......... ................. .......................- .............- ............... .......... .............. ................. .............-.......... ...............- .......... ................ .......... .......... ........... ............ .......... ........... .......... ............ ............ .....................-.......... ..... .... . ..............- ........... ........... ............................... ..........- .................. ........... .............. ............ .............. ............ ..............-.......... ........... ............ ........... ......... .......... ............. ........ ............ ............ ............. .......... ................. .......... ........... .................. .............. ............ .............. ........... ................ .............................................. ....... ............. ........................ ............ ..........- ............... ................ ........... ........... ....................- ........... ................................................ ............. ..........- ........... ................ ....... ............. ............. ........... ............. ................... ..................- .................. ........... .................. .......... ............. .......... ....... ............ ............ ............. ................. ...........- .......... .............. ...........-.......... ................... ........................ ................ ................ ......................................... ....................... .............. .......... ..................... ................. ............. ........... ............ .......... ................... .......... ........... .......... ............ ................. ......... -.......... ............. .......... ............ .......... ................. ............... ........... .................................-.............. .................................. .......... ...........- ....... .......... ........... ............... .........................- .............. ................................. .......... .................. .......... ............... ............ .............. ...........- .......... ............. ................................. ...... .......... ................- ............... ..........................- ............. ............. ............... .......... ........... ..........-.......... .................... ...................... .......... ............... ............ ............. ................. ............ ........... ........... ................. ........................... ....................... ..................................... ........................................ .............................................. ............................................................................................................................. ................ ........ .............. .......... .......................... ..................... .............- ..........- - - ............ ... .... Successor Agency Res. No. 2014-04 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 September 15, 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 Clerkq The Successor Agency to the Redevelopment Agency of the City of Huntington Beach, California ATT ACHMENT 2 RESOLUTION NO. 2014- 05 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 JANUARY 1, 2015 THROUGH JUNE 30, 2015 WHEREAS, California Health and Safety Code section 341770) requires that the Successor Agency to the Redevelopment Agency of the City of Huntington Beach ("Successor Agency") prepare an administrative budget for each six month fiscal period; and A draft administrative budget for the fiscal period of January 1, 2015 through June 30, 2015 ("Administrative Budget") is attached hereto as Exhibit A; and California Health and Safety Code section 34177(k) requires the Successor Agency to provide to the County Auditor-Controller administrative cost estimates for expenses from the administrative budget that are to be paid from property tax revenues deposited in the Redevelopment Property Tax Trust Fund for each six month fiscal period; and All of the prerequisites with respect to the approval of this Resolution have been met. NOW, THEREFORE, the 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. 14-4370/112482.doc 1 S.A. Resolution No. 2014-05 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 15th day of September , 2014. ChainAn REVIEW D AND APPROVED: Ex ut ve/11irector APPROVED AS TO FORM: r �- Agency Counsel) 14-4370/112482.doc 2 S. A. Resolution No. 2014-05 EXHIBIT A ADMINISTRATIVE BUDGET FOR THE PERIOD JANUARY 1, 2015 THROUGH JUNE 30, 2015 [behind this page] 14-4370/112482.doc 3 Ex. A - Successor Agcy Reso. 2014-05 h ' " SUCCesSdr Agency aq itll IS t1YB BW ge Q8pS1 Iflellt Ijudge� unimaty 'Other Funds by©biec#Account �a 6 a y Expt�d tttt ut ?S 14: B e RQ.RF Admin"I atlon t3 o� * g "PERSONAL.SERVICES '' .. . . ' Salaries/Benefits-Permanent 184,710 PUS NA 8 I rrtcES, ,OPERATING EXPENSES Legal Services 75,000 Other Professional Services 100,000 Other Operating y� 355,000 'tQ,F-RAT[NG EsXPENSES' Total n -714 710 Revenue Summary. y R P. 1 $Bt7[4et Administrative Allowance 250,000 Other Funds 464,710 'v V 774 71©: Significant Changes Pursuant to AB x126 and AB 1484,the Successor Agency receives RPTTF funding from the County Auditor- Controller to pay Enforceable Obligations. The Successor Agency also receives a 3% or minimum o $250,000 for administration of the winding down of the former Redevelopment Agency per fiscal year. Administrative costs associated with the"wind down" and dissolution of the Redevelopment Agency that exceed the administrative cost allowance will be funded by Other Funds, pursuant to State rules. Administrative expenses include: personnel costs, legal, and other professional services expenses associated with the dissolution and administration of the Successor Agency. HB -;6;- Item 12. - 19 Successor Agency Res. No. 2014-05 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 September 15, 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 Clerkv The Successor Affency to the Redevelopment Agency of the City of Huntington Beach, California