HomeMy WebLinkAboutSuccessor Agency Resolution Nos. 2015-01 and 2015-02 approvi `Y
Dept.ID ED 15-05 Page 1 of
Meeting Date:,2/17/201.5_
CITY OF HUNTINGTON BEACH
REQUEST FOR. SUCCESSOR AGENCY ACTION
MEETING DATE: 2/17/2015
SUBMITTED TO: Agency Chair and Board Members
SUBMITTED BY: Fred A. Wilson, Executive Director
PREPARED BY: Ken Domer, Deputy Executive Director
Kellee Fritzal, Deputy Director, Business Development
SUBJECT: Adopt Successor.Agency Resolution Nos. 2015-01 and 2015-02 approving the
Recognized Obligation; Payment Schedule (RODS) and Administrative Budget
for the Huntington Beach Successor Agency for the period of July 1, 2015
through December 31, 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 July 1, 2015, through December 31, 2015. An
approved RODS must be submitted to the Department of Finance(DOF) by March 1, 2015.
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,fiction:
A) Adopt Resolution No. 2015-01, "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, 2015 through December 31, 2015 (`RODS 15-16A')"; and,
B) Adopt Resolution No. 2015-02, "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,"2015 through December 31, 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 BOPS 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 BOPS.
Item 9. - 1 14B - -
Dept.ID ED 15-05 Page 2 of 2
Meeting Date:2117/2015
Analysis:
In June 2011, the State of California enacted AB1X 26 which dissolved redevelopment agencies
and designated Successor Agencies to "wind-down" the activities of the former redevelopment
agencies. As a result of the Court's ruling on the Dissolution Act, all redevelopment agencies in
California were dissolved effective February 1, 2012. The City Council acts as the Successor
Agency to the former Redevelopment Agency of the City of Huntington Beach. 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. Enforceable obligations, for example, include any agreement originally
entered into by the former redevelopment agency and deemed to be a continual obligation of the
Successor Agency. The enforceable obligations are listed, to include payment amounts and
contract terms, through a Recognized Obligation Payment Schedule (ROPS) that is to be
prepared for each six month period of an annual fiscal year commencing July 1 and ending June
30. The Successor Agency is to develop and approve the ROPS (attached) and, after approval by
the Oversight Board, submit the ROPS to the State Department of Finance for approval.
The submitted Recognized Obligation Payment Schedule for July 1 through December 31,
2015, 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 (D O F) has the authority to review the ROPS and return it to
the Successor Agency for reconsideration and modification, unless approved outright.
Therefore, the ROPS shall not be effective until approved by the State Department of Finance.
If DOF disapproves the ROPS in whole or in part, the Successor Agency can request a meet
and confer to provide additional information or to challenge a denial.
Additionally, the Successor Agency is to prepare an Administrative Budget to be included as part of
the ROPS. The Administrative Budget for the period July 1 through December 31, 2015, reflects a
total of$250,000, which represents three percent (3%) of the projected property tax receipts during
this period and accounts for those costs which are determined to be administrative, such as
staffing, legal or other non-project or enforceable obligation related costs associated with
Successor Agency actions.
Environmental Status:
Not Applicable
Strategic Plan Goal:
Enhance economic development
Attachment(s):
Resolution No. 2015-01, "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, 2015 through December 31, 2015("ROPS 15-16A)"
Resolution No. 2015-02, "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, 2015 through December 31, 2015"
B -9 - Item 9. - 2
Successor Agency
RESOLUTION NO. 2015- 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, 2015 —DECEMBER 31, 2015 ("ROPS 15-16A")
WHEREAS, pursuant to AB x 126 (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, 2015 and continuing through December 31, 2015 ("ROPS 15-16A")
which is attached hereto as Exhibit A, and
After reviewing ROPS 15-16A, 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 15-16A; 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 15-16A 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 15-16A on the Successor
Agency website once approved by the Oversight Board to the Successor Agency; (ii) transmit
ROPS 15-16A 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 15-16A as may be necessary to submit ROPS 15-16A in any modified form required by
DOF, and ROPS 15-16A as so modified shall thereupon constitute ROPS 15-16A as approved by
the Successor Agency pursuant to this Resolution.
15-4582/116985 1
Successor Agency Resolution No. 2015-01
4. The Successor Agency authorizes the Executive Director, or designee, to make
such non-substantive changes and amendments to ROPS 15-16A as may be approved by the
Executive Director of the Successor Agency and its legal counsel, and ROPS 15-16A as so
modified shall thereupon constitute ROPS 15-16A 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 17th day of
February , 2015.
Chairm
REVIEWED AND APPROVED:
E 't v Director
APPROVED A ORM:
A 6ncy Counsel
2
13-3914/101076
Successor Agency Resolution No. 2015-01
EXHIBIT A
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
FOR THE PERIOD JUNE 1, 2015 THROUGH DECEMBER 31, 2015
("ROPS 15-16A")
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miea Tor me July i, zuio mrougn uecemDer si, zuio 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): $ 4i7O8,969"'
B Bond Proceeds Funding (ROPS Detail)
C Reserve Balance Funding (ROPS Detail) 41333,969
D Other Funding (ROPS Detail) 375,000
E Enforceable Obligations Funded with RPTTF Funding (F+G): $ 4,480,063
F Non-Administrative Costs(ROPS Detail) 4'230,063
G Administrative Costs (ROPS Detail) 250,000
H Current Period Enforceable Obligations(A+E): $ 901.899032
Successor Agency Self-Reported Prior Period Adjustment to Current Period RPTTF Requested Funding
I Enforceable Obligations funded with RPTTF(E): 4,480,063
J Less Prior Period Adjustment(Report of Prior Period Adjustments Column S) (36,180)
K Adjusted Current Period RPTTF Requested Funding (I-J) $ 4,443,883
County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding fez
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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 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 Sourc
Non-Redevelopment Property Tax Trust Fund
Non-RPTTF
Contract/Agreement Contract/Agreement Total Outstanding
a Execution Date Termination Date Pape Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds
$ 70,500,536 $ $ 4;333,989 $ ' . - 375,0
jcti 9/14/1998 9/30/2023 PCH Beach Resorts LLC Disposition and Development Merged N
Agreement approved on September
14,1998 for the Waterfront
Development
or &19/2002 6/1/2024 Bank of New York Trust Co. Tax Allocation Bonds Debt Service Merged 13,050,138 N 1,371,069
Payments
or 1/12/1999 8/1/2024 Bank of New York Trust Co. Tax Allocation Bonds Debt Service Merged 5,982,295 N 632,412
Payments
11/17/2010 11/17/2016 Arbitrage Compliance Tax Allocation Bonds arbitrage rebate Merged 500 N
S eciallst calculation-Federal IRS Compliance
11/17/2010 11/17/2016 Arbitrage Compliance Tax Allocation Bonds arbitrage rebate Merged 500 N
S ecialist calculation-Federal IRS Compliance
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 Aqent
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
Advisors,LLC Disclosure Annual Reports and
Material Event Notices
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or 7/21/2010 8/1/2019 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
Jcti 6/1/1999 9/30/2033 CIM Group,LLC and Kane Property Tax Sharing Agreement Merged 6,748,571 N 702,904
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.
ictl 1/20/2009 9/30/2033 CIM Group,LLC Property Tax Sharing Agreement Merged 414,402 N 49,576
under the Disposition and
Development Agreement(DDA) and
Sixth Implementatlon Agreement for
the Strand projects parking structure
authorized on January 20,2009.
ictl 10/16/2006 10/16/2026 Maker Properties&Kane Owner Participation Agreement Merged 5,520,000 N
Balimer 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 Sourc
Non-Redevelopment Property Tax Trust Fund
Non-RPTTF
Contract/Agreement Contract/Agreement Total Outstanding
i Execution Date Termination Date Payee Description/Project Scope Project Area Debtor Obli ation Refired Bond Proceeds Reserve Balance Other Funds
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9;'�%a
5/10/2011 11/26/2024 Housing Authority Legally enforceable obligation for Merged - N
SERAF Loan repayment
icti 5/26/1991 12/31/2017 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.
s 6/30/2011 11/26/2026 CaIPERS Unfunded CalPERS pension obligation Merged 2,697,641 N
as per CalPERS actuarial valuation as
of June 30,2012
s 9/30/2011 11/26/2026 US Bank Unfunded actuarial accrued liability as Merged 607,550 N
of September 30,2013 as per actuarial
valuation by Bartel Associates,LLC.
s 6/30/2011 11/26/2024 CalPERS/CERBT Unfunded actuarial accrued liability as Merged 75,629 N
of June 30,2013 as per Bartel
Associates,LLC.
s 9/30/2011 11/26/2024 City employees directly Obligation for unused employee Merged 71,171 N
involved in Housing and General Leave earned and vested as
Redevelopment projects per MOUs and AB 1 X26
and administration
cti 10/2/2000 9/30/2025 Bella Terra Associates LLC Property Tax Sharing Agreement Merged 12,910,919 N 1,578,008
required under the terms of the Owner
Participation Agreement(dated
101212000)and Second
Implementation Agreement (dated
911 712 00 7)for the development of the
Huntington Center(Bella Terra).
Includes legal requirements to enforce
obligation,
icti 10/4/2010 7/1/2036 Bella Terra Villas,LLC Agreement approved on October 4, Merged 16,961,167 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.
6/17/2002 10/1/2030 1CIty of Huntington Beach Loan repayment for advance made on ISoutheast Coastal I I 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
Execution Data Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds
7l8/2012 7l8/2015 Kane Ballmer&Berkman Legal expenses to ensure Successor Merged&Southeast 75,000 N 75,(
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 100,(
to ensure Successor Agency Coastal
compliance with AB 1x 26 and AB
1484
,
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2l1/2012 11/26/2024 Successor Agency,Kane Successor Agency administrative Me � �rged&Southeast N 400,(
Ballmer,Keyser Marston, obligations relating to maintaining Coastal
and Macias Gin!& payments on enforceable obligations
O'Connell LLP at al and other activities as required by AB
1X26
ons 111112010 11/26/2024 S&S Fencing,Al Fence Fencing to secure Successor Agency Merged 3,500 N
Co.,American Fence Property
(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
r Execution Data Termination Data Payee Description/Project Scope Project Area Debt or Obli stion Retired Bond Proceeds Reserve Balance Other Funds
icti 10/16/2006 11/26/2024 Housing Authority Statutory housing obligation for Pacific Merged N
City Project
2/5/2013 2/5/2015 Kane Baiimer&Berkman Payment of litigation costs for property Merged Y
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 reviewlaudit to Merged&Southeast Y
LLP wind down the RDA,such as due Coastal
diligence reviews
t3I
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i77_
zu� f zi. _
Bank of New York Trust Co.
z
x 8/19/2002 8 12 �.9
/ / 024 B 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.
rnt 1/26/2014 1/26/2017 AON Environmental Liability Policy for Merged N
Edinger Parcel Poll #PLS 15012296
.r Ear %I 4
,i
ms 12/1/2009 6/30/2014 TBC Corporation Return of Security Deposit Payment Merged Y
upon lease termination
5/10/2010 11/26/2024 Housing Authority Legally enforceable obligation for Merged 2,732,842 N
SERAF Loan repayment
N
N
N
N
N
N
N
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/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 fu
!rty 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-
Tips Sheet.pdf. ---]-
B C D E IF H
Fund Sources
Bond'Proceeds Reserve Balance- Other = RPTTF
Prior ROPS Prior ROPS
period balances RPTTF
Bonds Issued on and DDR RPTTF distributed as Rent, Non-Admin
or before Bonds Issued on balances reserve for future Grants, and
:e Information by ROPS Period 12/31/10 or after 01/01/11 retained period(s) Interest, Etc. Admin
4- 1 2131/14
i Balance(Actual 07/01/14)
7,065,318 632,542 3,716,795
12131/14)
to the ROPS 14-15A distribution from the
wring June 2014 397,150 1,525,922
t-15A Enforceable Obligations (Actual
14 should equal total reported actual
:)f PPA, Columns L and Q 346,362 315,330 1,525,922
sh Balance (Actual 12131/14)
Duld only include the amounts distributed as
7,065,318
r Period Adjustment �w •r �s i �
3 the self-reported ROPS 14-15A PPA in the �� �'
P � �
IUd entr-,req 'hired
36,1$0.
Cash Balance
(1 +2-3- -5) $ 286,180' S .3,798,615 $ 'q 36,180
4
15.-06/30/15
i Balance.(Actual 01/01/15)
+F4+ F6, and H'='5+..
6)
70065,318� $ 286,180 $ 3,798,615
,e 06/30/15)
to the ROPS 14-15B distribution from the
uring January 2015 30,000 2,624,879
Estimates were obt
-158 Enforceable Obligations(Estimate
Confer Determinab
4,451,791 2,619,047 2,624,879 2014.
Pursuant to HSC Section 341e8 a SAs are FiOP81 d-191A CAC PPA To 6e oampletf by the hAC Upon suDmInel of a
(), required to report the differences between their actual available funding and their actual expenditures for the ROPS 14-15A(July through December 2014)period.The amount fhe CAt; NCW fha!bACa wll�Head M erljer their dwn foRnulo9 aE the llne l
y through December 2015)period will be offset by the SA'a self-reported ROPS 14-15A prior period adjustment.HSC Section 34186(a)also specifies that the prior period adjustments self-reported by SAs are subject to a dray rlato�date PP E.Aisd i3d(e th'.1fid Adtnm of duMa do need.to I
erit(sreiJaetaWm aum �.. �?„ ,P.,
O H I J K L M N O P O R 8 T X
RPTTF Expenditures
Not BA Non-Admin
and Admin PPA
(Amount Used to
Otfat ROPD 1s-16A
Other Funds NorrAdmin Admin R aqualad RPIT� <. „NomAdmin CAC
Available Avallable Difference
RPTrF ItPfTF 0t total ecdwl Vi
s v '�
(ROPE 14-15A OI1Merroe (RODS 1445A sa ods to%[ _� ,.,c� c
dlaldbuted•all other Nat' rat (If K Is Isa than L, dlstdbuted*all other Net taasw of auemrlad,tFr NM laauuf - FM Lei aiu/ 'K`'-
available a of Aulhorlmd/ tho differs."to avallable a of Aulhodeod I total dlffarenoe Is Not Dlfforsnee t iiihfloti�dlY 1 : AusaMail
Aulhorhed Aotuai Aulhodeed 07/1/14) Avallebh Actual mm) Aotlgdad 0711/14) Available Aotual arc) (MM) BA CommerceAvalleLiY r;A1�ul �,.,BNferilroe •�"t', Avdhbla i,,,,,
318.370 f .315,330 f:-::1,908,4e4. i, 1,900.484 f 1,800.484 f 1,972,284 i'� 3e,1B0 f 250,000 i-"--"` 250,000 i .; 250,00D f f 250.060 f - i ...`.36.100
i
s f ;
s $
375,330 315,330 1,043,689 1.043089 s '1.043.689 1.043,689 f
- e1B,8Bz ete,e82 f e10.e82 e18,862 f�" rr -�
r ,
i
i f .?•= i - Ird dw RPrrFbrawb artblpbdbM
'-vald In the ROPE 14-15B Pwlad In the
amowtortsw ,yA,"•
- 1,538 1,538 s'"*. 1,STD 1,537 f :.2 f 2 r 1.:: ? �� •�+ ;s
Indudaa RPRF br *a ntI aabd Ia beROM
w "�.- .-untdrsa/a 14ABB pnlodheM
1,
700 700 f 700 200 f. 'S00 f ;-50p . =M
2,025 2,025 f -2.025 1,550 f ,,,475 r
f 47S ..
` y
i f _ = Peld and opPmved hoar mserva \
Whorlaed during the BOPS 13-148 � � ' .' �f✓6
period and noted In 0a ROPS 13-14B r
PPAabmlltod with the ROP814-158 ` �'� x
e f = Paid and approved ham mserva - ir=1adzed
� during the RODS 13148 �> '"% "> �'�`� -
period and rorod In Iha ROPE 13-148 -
` - PPAsubmltted with ihs ROP814-i5B
z0aoo 20 coo S .:: 20aoo i 20 coo f 211000 '`��, .w.'^ ,. ;. ,..r,.,.,. nw,•,
$ s ,n
s
r
f 'p
10,000 10.000 f 10,000 4.092 s LMAL
5,308 i 6,308
k �
119,063 11e083 11e,053 110,083 s, -
f
- 28,952 28952 s 20.852 28,952
iw
i s
8,222 e,222 S,, ,. 8,722 e,222 f
- 73,541 13,541 S 13,511- 9=1 f 4,338
r
N> d
Pursuant to HSC Section 34188 a SAe are I Ot18141 Si4 CAC PIP! fl'o be Wrnpieter by the CAC upon sutihll(tel of
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Successor Agency
Res. No. 2015-01
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 17, 2015 and that is was so adopted by
the following vote:
AYES: Posey, O'Connell, Katapodis, Hardy, Sullivan, Delgleize, Peterson
NOES: None
ABSENT: None
ABSTAIN: None
Clerk The Successor 4ency to
the Redevelopment Agency of the
City of Huntington Beach, California
Successor Agency
RESOLUTION NO. 2015- 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, 2015 THROUGH DECEMBER 31,2015
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 July 1, 2015 through December 31,
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.
15-4582/116992 1
Successor Agency Resolution No. 2015-02
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 17th day of
February , 2015.
Chairm
REVIEWED AND APPROVED:
Ex e'a e irector
APPROVED"FORM:
ency Counsel ti'AV-q
4
15-4582/116992 2
Successor Agency Resolution No. 2015-02
EXHIBIT A
ADMINISTRATIVE BUDGET FOR THE PERIOD
JULY 1, 2015 THROUGH DECEMBER 31, 2015
[behind this page]
15-4582/116992 3
` .erg a a „�,g _
s Adimit'UtSiiiiiV@ BiAdgeg� :
Departeaje7l#Budlget Stnmraaaet �
Offer Fends'by Object Account
a z
b*ER 0 NDS d a
u.
PERSON AL'-SERVtCES
Salaries/Benefits-Permanent 210,000
� RsCAlA.L SERJ �, UK , .:s � 2'IIl1 Ong
'OPERAMINIG EXPE NSES „:, A
Legal Services 75,000
Other Professional Services 100,000
Other Operating 240,000
`` 7PERAi°T! GtdSES_, E., x� 7W
Teal �.x , :_ f. ' F 525000
Administrative Allowance 250,000
Other Funds 375,000
7ota1 . : 625,000
SlIgniflicant 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 tha
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 expense
associated with the dissolution and administration of the Successor Agency.
HB —111— Item 9. - 18
Successor Agency
Res. No. 2015-02
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 17, 2015 and that is was so adopted by
the following vote:
AYES: Posey, O'Connell, Katapodis, Hardy, Sullivan, Delgleize, Peterson
NOES: None
ABSENT: None
ABSTAIN: None
OA Ape Jim,0 4
Clerk #The Successor Agency to
the Redevelopment Agency of the
City of Huntington Beach, California