HomeMy WebLinkAboutRecognized Obligation Payment Schedule - ROPS - for the Rede . X, 2�
Council/Agency Meeting Held: .3
Deferred/Continued to J44W Xu�.A=4m
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.Ap ov d on itionally A p oved ❑ Denied City Cler Signaf re
Council Meeting Date: October 3, 2011 Department ID Number: ED 11-045
CITY OF HUNTINGTON BEACH
REQUEST FOR REDEVELOPMENT AGENCY ACTION
SUBMITTED TO: Honorable Chairman and Agency Members
SUBMITTED BY: Fred A. Wilson, Executive Director
PREPARED BY: Bob Hall, Deputy City Manager
Lori Ann Farrell, Director of Finance
SUBJECT: Approve and designate City official of the Recognized Obligation
Payment Schedule (ROPS) for the Redevelopment Agency as
required by the State
Statement of Issue: The Redevelopment Agency Board is being asked to approve the
Recognized Obligation Payment Schedule (BOPS) for the Redevelopment Agency as
required by the State.
Financial Impact: No fiscal impact
Recommended Action: Motion to:
A) Approve the Recognized Obligation Payment Schedule; and,
B) Designate the Director of Finance as the City's authorized official regarding the
Recognized Obligated Payment Schedule.
Alternative Action(s):
Do not approve the Recognized Obligation Payment Schedule
Item 9. - I xB -186-
REQUEST FOR COUNCIL ACTION
MEETING DATE: 10/3/2011 DEPARTMENT ID NUMBER: ED 11-45
Analysis:
On August 15, 2011, the Redevelopment Agency adopted the Enforceable Obligation
Payment Schedule (EOPS) and submitted it to the State Department of Finance. In
furtherance of AB 1X 26, with "enforceable obligations," redevelopment agencies are
required to prepare the preliminary draft of the initial Recognized Obligation Payment
Schedule (ROPS) pursuant to Section 34169(h).
The Supreme Court has issued a stay pending their decision on the litigation and the
constitutionality of AB 1 X 26. Therefore, redevelopment agencies continue to have authority
to make payments due, enforce existing covenants and obligations, and perform their
obligations in connection with "enforceable obligations." Additionally, they remain prohibited
from, among other things, incurring new or expanding existing monetary or legal obligations.
The State Department of Finance has the authority to review the preliminary draft ROPS and
return it to the Redevelopment Agency for reconsideration and modification. Thereafter, the
preliminary draft ROPS shall not be effective until approved by the State Department of
Finance. The Redevelopment Agency is obligated to designate an official to whom the
Department of Finance may submit its requests for review. The Agency would designate the
City's Director of Finance.
The Redevelopment Agency's adoption of the preliminary draft ROPS includes an express
reservation of the Agency's rights in light of the CRA Litigation and the unconstitutionality of
AB 1 X 26.
Environmental Status: Not applicable.
Strategic Plan Goal: Maintain financial viability and our reserves
Attachment(s):
o !Zescrio 166
IN
1. Recognized Obligation Payment Schedule
HB -187- Item 9. - 2
ATTACHMENT # 1
Item 9. - 3 HB -ivv-
Name of Redevelopment Agency: The Redevelopment Agency of the City of Huntington Beach Page 1 of 4 Pages
Project Area(s) Merged Project Area
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26-Section 34167 and 34169(')
Period Covered:January 1,2012 through June 30,2012
Total
Outstanding Total Due
Debt or During Fiscal Payments by month
Project Name!Debt Obligation Payee Description Obligation Year Jan Feb Mar Apr May June Total
Operative Agreement between the City of
Huntington Beach and the Redevelopment
1 Agency of Huntington Beach City of Huntington Beach Legally Binding Operative Agreement 708,032 1 203,460 $
Operative Agreement between the City of
Huntington Beach and the Redevelopment
2 Agency of Huntington Beach City of Huntington Beach Legally Binding Operative Agreement 381,323 109,578 1 $
Operative Agreement between the City of
Huntington Beach and the Redevelopment
3 Agency of Huntington Beach City of Huntington Beach Legally Binding Operative Agreement 1,442,921 414,638 $
Operative Agreement between the City of
Huntington Beach and the Redevelopment
4 Agency of Huntington Beach City of Huntington Beach Legally Binding Operative Agreement 2,319,882 666,642 $
Operative Agreement between The City of
Huntington Beach and the Redevelopment
5 Agency of Huntington Beach City of Huntington Beach Legally Binding Operative Agreement 584,071 167,839 $
Operative Agreement between the City of
Huntington Beach and the Redevelopment
6 Agency of Huntington Beach City of Huntington Beach Legally Binding Operative Agreement 1,757,147 504,934 $
Operative Agreement between the City of
Huntington Beach and the Redevelopment
7 Agency of Huntington Beach City of Huntington Beach Legally Binding Operative Agreement 262,522 75,439 $
Operative Agreement between the City of
Huntington Beach and the Redevelopment
8 Agency of Huntington Beach City of Huntington Beach Legally Binding Operative Agreement 88,984 25,570 $ -
Operative Agreement between the City of
i-�I Huntington Beach and the Redevelopment
9 Agency of Huntington Beach City of Huntington Beach Legally Binding Operative Agreement 72,254 20,764 $
Operative Agreement between the City of
Huntington Beach and the Redevelopment
t 10 Agency of Huntington Beach City of Huntington Beach Legally Binding Operative Agreement 91,461 26,282 1 $
r-+
p0 Operative Agreement between the City of
`O Huntington Beach and the Redevelopment
t 11 Agency of Huntington Beach City of Huntington Beach Legally Binding Operative Agreement 683,501 196,411 1 1$
Operative Agreement between the City of
Huntington Beach and the Redevelopment
12 Agency of Huntington Beach City of Huntington Beach Legally Binding Operative Agreement 17,569 5,050 $
13 Land Sales City of Huntington Beach Legally Binding Operative Agreement 781,179 50,508 $
14 Land Sales City of Huntington Beach Legally Binding Operative Agreement 2,366,215 152,987 $
15 Land Sales City of Huntington Beach Legally Binding Operative Agreement 49,830.157 3,221,765 $
16 Land Sales City of Huntington Beach Legally Binding Operative Agreement 3,879,676 250,840 $
17 Land Sales City of Huntington Beach Legally Binding Operative Agreement 4,371,110 282,614 $
Operative Agreement between the City of
Huntington Beach and the Redevelopment
18)Agency of Huntington Beach COHB Water Utility Legally Binding Operative Agreement 535,6B6 12,504 $
Totals-This Page M10,743,124
$ 6,387,825 $ - $ - $ - $ - $ - $ $
Totals-Page 2 1 $12,888,016 $ 31,640 $ 498,145 $ 31,964 $ 29,185 $ 30,314 $ 29,494 $ 650,742
Totals-Page 3 $15,132,425 $6,949,884 $ 154,135 $154,135 $ 154,135 $ 154,135 $ 154,135 $7,720,559
Totals-Page 4 $ 316,212 $ 61 $ $ - $ $ - $ 61
Totals-Other Obligations $ - $ $ $ - $ $ $ $Grand total-Ali Pages $34,724,480 $6,981,585 $ 652,280 $186,099 $ 183,320 $ 184,449 $ 183,629 $8,371,362
r~-I- This Recognized Obligation Payment Schedule(ROPS)covers fiscal year July 1,2011 through June 30,2012 and months January through June of this fiscal year.
The City of Huntington Beach Debt Operative Agreement as of September 30,2011 is not available yet,so the total outstanding debt for the Legally Binding Operative Agreement
In this report was obtained from the City of Huntington Beach Debt Operative Agreement as of September 30,2010. The Debt Operative,Agreement total outstanding balances
do not include future interest
INC
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Name of Redevelopment Agency: The Redevelopment Agency of the City of Huntington Beach Page 2 of 4 Pages
Project Area(s) Merged Project Area
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
(� Per AB 26-Section 34167 and 34169(*)
Period Covered:January 1,2012 through June 30,2012
Total
Outstanding Total Due
Debtor During Fiscal Payments by month
Project Name!Debt Obligation Payee Description Obligation Year Jan Feb Mar Apr May June Total
Operative Agreement between the City of
Huntington Beach and the Redevelopment
1 Agency of Huntington Beach COHB Water Utility Legally Binding Operative Agreement 3,427.590 80,007 $
Operative Agreement between the City of
Huntington Beach and the Redevelopment
2 Agency of Huntington Beach COHB Drainage Utility Legally Binding Operative Agreement 639,443 14,926 $
Operative Agreement between the City of
Huntington Beach and the Redevelopment
3 Agency of Huntington Beach COHB Sewer Utility Legally Binding Operative Agreement 265,329 6,193 $
4 Land Sale Emerald Cove COHB Park A&D Fund Legally Binding Operative Agreement 5,267,410 122,953 $
5 Deferred Developer Fees Park&Acquisition Fee COHB Park A&0 Fund Legally Binding Operative Agreement 390,705 9,120 $
6 Deferred Developer Fees Sewer Fee COHB Sewer Utility Legally Binding Operative Agreement 165,244 3,857 $
7 Deferred Developer Fees Drainage Fee COHB Drainage Utility Legally Binding Operative Agreement 175,900 4,106 $
Legally Binding and Enforceable Agreement
8 Low Income Housing Loan Low Income Hsg Fund for Property Acquisition 1,362,500 $
Disposition and Development Agreement for
9 Hyatt Project Robert Mayer Co oration the Waterfront Development 5,708,675 1,108,685 31,640 28,732 31,964 29,185 30,314 29,494 $ 181,329
10 2002 Tax Nice RefundingBonds Bank of New York Trust Cc Tax Allocation Bonds 17,644,481 1,604 164 320,369 320,369
11 1999 Tax Nice Refunding Bonds Bank of New York Trust Cc Tax Allocation Bonds 8,071,991 737,334 149,044 $ 149,044
Legally binding and enforceable agreement
12 HUD Section 100 Bank of New York Mellon for capital improvements 3,764,295 391,218 $
California Housing Finance Loan Borrowed by Agency for Senior Rental
13 HELP Loan Bowen Court Agency Complex 500,000 $
Owner Participation Agreement for
construction of various public improvements
14 Bella Terra Parking Phase I Bella Terra Assoc LLC including parking 21,549,342 1,539,239 $
Disposition and Development Agreement for
development of hotel,retail and restaurant,
1-ry 15 Strand Parking&Infrastructure CIM DDA and public parking structure 13,997,626 677,903 $
W Disposition and Development Agreement for
I 16 Strand Additional Parking CIMODA additional Strand parking spaces 1,088,861 49,576 $
Legally Binding and Enforceable Agreement
for the Funding of Specified Public
I Infrastructure Improvements and Affordable
17 Merged Prof Area Capital Improvement Program City of Huntington Beach Housing Projects 185,829,940 $
Legally Binding and Enforceable Agreement
for conveyance of Emerald Cove Senior
16 Emerald Cove Senior Apartments City of Huntington Beach Apartments 4,054,198 406,116 $
19 2002 Tax Alloc Refunding Bonds Arbitrage Compliance Specialist Tax Allocation Bonds-Arbitrage 500 500 $
20 1999 Tax Alice Refunding Bonds Arbitrage Compliance Specialist Tax Allocation Bonds-Arbitrage 500 500 $
Tax Allocation Bonds-Payment to Fiscal
21 2002 Tax Alice Refunding Bonds Bank of New York Mellon Agent 1,537 1,537 $
Tax Allocation Bonds-Payment to Fiscal
22 1999 Tax Nice Refunding Bonds Bank of New York Mellon Agent 848 848 $
Orange County,Various School
23 Pass Through Agreements" Districts,and City of HB Legally Binding and Enforceable Agreement 2,284,631 2,284.631 $
Agreements necessary for continued
24 RDA Merged Prot Area Admin Costs City of Huntington Beach administration or operation of Agency 98,231 98,231 $
25)Low[Moderate Inc Set Aside'• Low Income Hsg Fund Legally Binding and Enforceable Agreement 3,746,374 1 3,746,374 $
Totals-This Page $260,036,151 1$ 12,886,018 1$ 31,640 $ 498.149 $ 31,964 $ 29,185 $ 30,314 9; 29,494 $ 650,742
"Does not include future interest.
The total outstanding debt is only for one fiscal year's payment.
Nz :edevelopment Agency: The Redevelopment Agency of the City of Huntington Beach Page 3 of 4 Pages
Proje,,Area(s) Merged Project Area
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26-Section 34167 and 34169(')
Period Covered:January 1,2012 through June 30,2012
Total
Outstanding Total Due
Debt or During Fiscal Pa ments by month
Project Name/Debt Obligation Payee Description Obligation Year Jan Feb Mar Apr May June Total
Legally binding and enforceable agreement
BTDJM Phase II Associates for construction of a 467 mixed-use unit
1 Bella Terra Phase It (DJM) project, 27,205,084 $
Legally binding and enforceable agreement
for future development of a new
community located at Pacific Coast
2 Pacific City Maker Properties Highway and First Street 5,500,000 $
Legally binding and enforceable agreement
Merged Proj Area Capital Improvement for continued administration and operation
3 Program Keyser Marston of agency 75,000 75,000 6,250 6,250 6,250 6,250 6,250 6,250 $ 37,500
Legally binding and enforceable agreement
for continued administration and operation
4 Low Income Housing Keyser Marston of agency 150.000 150,000 12,500 12,500 12,500 12,600 12,500 12,500 $ 75,000
Merged Proj Area Capital Improvement Legally binding and enforceable agreement
5 Program Kane Ballmer and Berkman for continued legal operations 75,000 75,000 6,250 6,250 6,250 6,250 6,250 6,250 $ 37,500
Legally binding and enforceable agreement
6 Low Income Housing Kane Ballmer and Berkman for continued legal operations 150,000 150,000 12,500 12,500 12,500 12,500 12,500 12,500 $ 75,000
Legally binding and enforceable contract
7 Low Income Housing Amerinational for housing compliance services 75,000 75,000 6,250 6,250 6,250 6,250 6,250 6,250 $ 37,500
Legally binding and enforceable agreement
Merged Proj Area Capital Improvement for continued administration and operation
8 Program Payroll for employees of agency 931,964 1 931,964 77,664 77,664 77,664 77,664 77,664 77,664 $ 465,984
Legally binding and enforceable agreement
for continued administration and operation
.x 9 Low Income Housing Payroll for employees of agency 392,656 392,656 32,721 32,721 32,721 32,721 32,721 32,721 $ 196,326
10 SERAF recognized as obligation 2009 Auditor Controller Other obligations required by the CRL 5,379,510 6,379,510 $ -
i 11 SERAF recognized as obligation 2010 Auditor Controller Other obligations required by the CRL 1,107,546 1,107,546 $ -
Legally binding and enforceable agreement
i--� Conditional Reimbursement Agreement for Opi for continued administration and operation
12 In Payments Pursuant to ABX 127 City of Huntington Beach of agency 6,795,749 1 6,795,749 6,795,749 $ 6,795,749
13 $
14 $
15 $
16 $ -
17 $
18 $
19 $
20 $
21 $
22 $
23 $
24 $
25) $
Totals-This Page $47,837.509 $ 15,132,425 $ 6,949.884 $154,135 $154,135 $154,135 $ 154,135 $ 154,135 $ 7,720,559
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Name of Redevelopment Agency: The Redevelopment Agency of the City of Huntington Beach Page 4 of 4 Pages
`O Project Area(s) Southeast Coastal Project Area
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Per AB 26-Section 34167 and 34169(")
Period Covered:January 1,2012 through June 30,2012
Total
Outstanding Total Due
Debt or During Fiscal Payments by month
Project Name/Debt Obligation Payee Description Obligation Year Jan Feb Mar Apr May June Total
Operative Agreement for the Huntington Beact Merged Huntington Beach
1 Redevelopment Project Project Area Legally Binding Operative Agreement 302,489 302,489 $
Operative Agreement for the Huntington Beac
Z Redevelopment Project City of Huntington Beach Legally Binding Operative Agreement 6,505,000 - $
Operative Agreement for the Huntington Bea
3 Redevelopment Project City of Huntington Beach Legally Binding Operative Agreement 253,158 5,909 $
Operative Agreement for the Huntington Beach
4 Redevelopment Project City of Huntington Beach Legally Binding Operative Agreement 332.161 7,753 $
Legally Binding and Enforceable
5 Low Income Housing Set Aside Low Income Hsg Fund Agreement 1,848,202 61 61 $ 61
Legally Binding and Enforceable
Agreement for the Funding of Specified
Public Infrastructure Improvements and
6 Capital Improvement Debt City of Huntington Beach Affordable Housing Projects 1,502,114 $
7 $
8 $
9 $
10 $
11 $
12 $
13 $
14 $
x 15 $
16 $
17 $
18 $
tV 19 $ -
20 $
21 $
22 $
23 $
24 $ _
25 $
26 $
27 $
28) $
Totals-This Page $ 10,743,124 $ 316,212 $ 61 $ $ $ $ $ Is 61
This Recognized Obligation Payment Schedule(RODS)covers fiscal year July 1,2011 through June 30,2012 and months January through June of this fiscal year,
The City of Huntington Beach Debt Operative Agreement as of September 30,2011 is not available yet,so the total outstanding debt for the Legally Binding Operative Agreement
in this report was obtained from the City of Huntington Beach Debt Operative Agreement as of September 30,2010. The Debt Operative Outstanding Debt balances
do not include future interest.