HomeMy WebLinkAboutAgenda Report - 02-26-2014 - Oversight Board of Huntington B AGENDA REPORT
Oversight Board of the Huntington Beach Successor Agency
to the Redevelopment Agency
MEETING DATE: February 26, 2014
SUBJECT/ACTION: Adopt Oversight Board Resolution Nos. 2014-01 and 2014-02
approving the Recognized Obligation Payment Schedule (ROPS) and Administrative
Budget for the Huntington Beach Successor Agency for the Period of July 1 through
December 31, 2014 in accordance with Health and Safety Code Section 34177
STATEMENT OF ISSUE:
The Oversight Board is requested to approve the ROPS and Administrative Budget for
the period of July through December 2014. An approved ROPS must be submitted to
the Department of Finance (DOF) by March 3 , 2014.
RECOMMENDED ACTION: Motion to:
A) Adopt Resolution No. 2014-01, "A Resolution of the Oversight Board 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 2014-15A");" and,
B) Adopt Resolution No. 2014-02, "A Resolution of the Oversight Board 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."
BACKGROUND:
As a result of the Court's ruling on the Dissolution Act, all redevelopment agencies in
California were dissolved effective February 1, 2012. The Dissolution Act and AB
1484 describe the procedures to wind down the affairs of the former redevelopment
agencies. These provisions include the continued payment of enforceable
obligations, as defined in the law.
The Recognized Obligation Payment Schedule for July 1 through December 31 ,
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 has the authority to review the ROPS and return it
to the Successor Agency for reconsideration and modification. Thereafter, the ROPS
shall not be effective until approved by the State Department of Finance.
Oversight Board
February 26, 2014
Page 2
This period ROPS is the second year of the new form created by the State, that
provided for the obligations to be filled in by the state and sent to cities. The
obligations that have been deemed ineligible by the State, have been shaded and
"locked" by the State to allow for no City input.
The Successor Agency approved the ROPS on February 18, 2014.
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.
ATTACHMENT(S):
1. Adopt Resolution No. 2014- 01, "A Resolution of the Oversight Board 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,
2. Adopt Resolution No. 2014-02, "A Resolution of the Oversight Board 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."
Oversight Board
RESOLUTION NO. 2014- 01
A RESOLUTION OF THE OVERSIGHT BOARD 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")
WHEREAS, pursuant to AB x 1 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 enlunerate 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
Under the Dissolution Act, ROPS 14-15A must be approved by the Successor Agency's
oversight board ("Oversight Board"); and
After reviewing ROPS 14-15A presented to and recommended for approval to the
Oversight Board by Successor Agency staff, and after reviewing any written and oral comments
from the public relating thereto, the Oversight 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 Oversight Board of the Successor Agency to the
Redevelopment Agency of the City of Huntington Beach does hereby resolve as follows:
1. The Oversight Board hereby finds and determines that the foregoing recitals are
true and correct.
2. The Oversight Board hereby approves ROPS 14-15A in the form presented to the
Oversight Board 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 Oversight Board authorizes and directs the Successor Agency staff to: (i) take
all actions necessary under the Dissolution Act to post 14-15A on the Successor Agency website;
(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
Oversight Board authorizes and directs the Successor Agency staff to make such non-substantive
1
14-4132/105489
Oversight Board Resolution No. 2014-01
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 Oversight Board pursuant to this Resolution.
4. The Oversight Board does not intend, by adoption of this Resolution, to waive
any constitutional, legal and/or equitable rights of the Oversight Board, 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 Oversight Board, the Successor Agency and the City of Huntington Beach
under law and/or in equity.
PASSED AND ADOPTED by the Oversight Board of the Successor Agency to the
Redevelopment Agency of the City of Huntington Beach at a special meeting thereof held on the
26th day of February 2014
Chairman e
REVIEVfED AND APPROVED:
Ex// t' e irector
APPROVED AS TO FORM:
l
Agency Cou sel
2
13-3914/101076
Oversight Board 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]
Recognized Obligation Payment Schedule(ROPS 14-15A)-Summary
Filed for the July 1,2014 through December 31,2014 Period
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(RODS Detail) 780.510
D Other Funding(ROPS Detail) 315,330
E Enforceable Obligations Funded with RPTTF Funding(F+G): $ ,2,623,794
F Non-Administrative Costs(RODS Detail) 2;223;794
G Administrative Costs(RODS Detail) 400,006.
H Current Period Enforceable Obligations(A+E): $ 3,719,634
Successor Agency Self-Reported Prior Period Adjustment to Current Period RPTTF Requested Funding
I Enforceable Obligations funded with RPTTF(E): 2,623.794
J Less Prior Period Adjustment(Report of Prior Period Adjustments Column S) (632.542).
K Adjusted Current Period RPTTF Requested Funding(I-J) $ 1,991,252
County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding
L, Enforceable Obligations funded with RPTTF.^,(E).. 2,623,794
M Less Prior Penod Adjustment'(Report of Prior.Period Adjustments'Colurrin AA)
N :Adjusted Current Period RPTTF Requested Funding(L-M) 2,623,794
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.
Is/
Signature Date
Recognized Obligation Payment Schedule(ROPS)14-15A-ROPS Detail
July 1,2014 through December 31,2014
(Report Amounts in Whole Dollars)
A B C D E F G H I J K L M N O P
Funding Source
Non-Redevelopment Property Tax Trust Fund
(Non-RPTTF RPTTF
Contract/Agreement ContractfAgreement Total Outstanding
Item# Project Name/Debt Obligation Obligation Type Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds Non-Admin Admin Six-Month Total
$ 100 244.763 $ - $ 780 510 $. 315 330 2 3 794 S 400.000 3 7 99 634
Land Sale Emerald C6901111i.+:; City/County CitylCounty Lbs SM&I2001619111111111111111t,10/12030t"'If. COHB Park A&D Fund - Legally Bindina Operative Agreement Mer ed U 1 T.ti' J6 S77 7
2 Hyatt Regency Huntington Beach OPA/DDA/Construch 9/14/1998 9/30/2023 PCH Beach Resorts LLC Disposition and Development Merged 5.043,296 N 367,251 $ 367,251
Project on Agreement approved on September
14,1998 for the Waterfront
Development
3 2002 Tax Allocation Refunding Bonds Issued On or 6/192002 8/1/2024 Bank of New York Trust Co.Tax A Iocafion Bonds Debt Service Merged 14,409.156 N 1,359,019 $ 1,359,019
Bonds Before 12/31/10 Payments
4 1999 Tax Allocation Refunding Bonds Issued On or 1/12/1999 8/1/2024 Bank of New York Trust Co.Tax Allocation Bonds Debt Service Merged 6.600.976 N 618,682 $ 618,682
Bonds Before 12/31/10 Pa ments
512002 Tax Allocation Refunding Fees 11I172010 11/17/2013 Arbitrage Compliance Tax Allocation Bonds arbitrage rebate Merged Soo N 500 $ 500
Bonds Specialist calculation-Federal IRS Compliance
6 1999 Tax Allocation Refunding Fees 11/172010 11/17/2013 Arbitrage Compliance Tax Allocation Bonds arbitrage rebate Merged 500 N 500 $ 500
Bonds Specialist calculation-Federal IRS Compliance
712002 Tax Allocation Refunding Bonds Issued On or 6/192002 8/1/2016 Internal Revenue Service IRS Arbitrage Rebate Payment Merged - N $ -
Bonds Before 12/31/10
8 2002 Tax Allocation Refunding Bonds Issued On or 6/192002 8/1/2024 Bank of New York Mellon Tax Allocafion Bonds-Payment to Merged 1,539 N 1,539 $ 1,539
Bonds Before 12/31/10 Fiscal Agent
9 1999 Tax Allocation Refunding Bonds Issued On or 1/12/1999 8/1/2024 Bank of New York Mellon Tax Allocation Bonds-Payment to Merged 848 N 848 9 848
Bonds Before 12/31/10 Fiscal Agent
10 2002 Tax Allocation Refunding Fees 1/32001 Harrell a Company Preparation and filing of Continuing Merged 700 N 700 $ 700
Bonds Advisors.LLC Disclosure Annual Reports and
Material Event Notices
11 1999 Tax Allocation Refunding Fees 1/32001 Harrell 8 Company Preparation and filing of Continuing Merged 2,025 N 2,025 $ 2,025
Bonds Advisors,LLC Disclosure Annual Reports and
Material Event Notices
Bonds Issued On or SIt 9/12021...w _ US Bank Emerald Cove 2010 Serles A Leese Merged N
Bet Revenue Refunding Bonds Debt —
Service Payment
13 HUD Section 108 Infrastructure Bonds Issued On or 7212010 8/12019 Bank of New York Mellon Legally binding and enforceable loan Merged 2.930,197 N 411,411 $ 411,411
Loan for Hyatt/Hilton Properties Before 12/31/10
agreement with the U.S.Department or
Housing and Urban Development for
capital improvements
14 Strand Hotel and Mixed-Use Project,OPA/DDA/Constructi 6/l/1999 9/30/2033 CIM Group,LLC and Kane Property Tax Sharing Agreement Merged 12,666,819 N $
Parking a.Infrastructure on 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,
15 Strand Project Additional Parking OPA/DDA/Constructi 1/202009 9/30/2033 CIM Group.LLC Property Tax Sharing Agreement Merged 959,709 N $ -
an under the Disposition and
Development Agreement(DOA)and
Sixth Implementation Agreement for
the Strand project parking structure
authorized on January 20,2009.
16 Pacific City OPA/DDA/Consouch 10/16/2006 10116/2026 Maker Properties&Kane Owner Participation Agreement Merged 5,520.000 N 20,000 3 20,000
an Ballmer and Berkman approved on October 16,2006 for
future development of a 31-acre site
located at Pacific Coast Highway and
First Street and financed by property
tax allocations.
Recognized Obligation Payment Schedule(ROPS)14-ISA-ROPS Detail
July 1,2014 through December 31,2014
(Report Amounts In Whole Dollars)
T�teA
C D E F G H I J K L M N O P
Fundin Source
Non-Redevelopment Property Tax Trust Fund
Non-RPTTF RPTTF
Contract/Am_- Coi acifAg,e ant Total Outstanding
cement Nan.e/Debt obtl at-, Ob1i a Execution Date Termination Date Payee Descrl lion/Prdect Sco e Project Area Debt or Obli ation Retired $ProoeedsReserve Balance tither Funds Non-Admin Admin Si0Mn1hTW.,',y-Very Low Income Units OPA/DDA/Constructi 10/162006 11262024 Maker Properties 15%affordable housing requirement Merged
on pursuant to Attachment 5 of the Owner
Participation Agreement approved on -
October 16,2006.Of the 15%
required housing obligation,5%very.
low income housing Is to be developed J
by the Housing Authority.The
Developer is required to provide the -
remaining 10%on site.
18 Affordable Housing Compliance OPA/DDA/Consttuct 9/302010 7202013 Amefinetianal. Statutory obligation for housing Merged N
Community Redevelopment Law, on compliance services pursuant to the
Health and Safety Code Section requirements of Section 31413(b)(4)
33000,et.seq.Covenant monRoring and 33490(a)(2)and(3)of the '_4
per AS 987, California
Community Redevelopment Law,
Health and Safety Code Section
33000,et seq.and eligible under
Health and Safety Code Section
34171(d)(1)(F)
41B Reppyrp t,Of, _ {, SERAF/ERAF 5/102010 11262024 Housing Authority Legally enforceable obligation for Merged 3,374,607 N
SERAF Loan re ayment _ _ ____
20 Repayment of SERAF Debt SERAF/ERAF 5/10/2011 11/26/2024 Housing Authority Legally enforceable obligation for Merged 713,733 N $
Obligation 2010 SERAF Loan repayment
21 Abdelmudi Owner Participation OPA/DDA/Consbucti 528/1991 12/312017 Abdelmudi Development Owner Participation AgreemenURenl Merged 10,000 N 10,000 $ 10,000
Agreement/Rent Differential on Company Differential Agreement approved on
Agreement 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.
23 Unfunded CeIPERS Pension Unfunded Liabilities 6/30/2011 11/262026 CeIPERS Unfunded CeIPERS pension obligation Merged 2.969,608 N 116.063 $ 116,063
Liabilities as per CeIPERS actuarial valuation as
of June 30,2012
24 Unfunded Supplemental Retirement Unfunded Liabilities 9/302011 11262026 US Bank Unfunded actuarial accrued liability es Merged 564,127 N 28.952 S 28.952
Liabilities of September 30,2013 as per actuarial
valuation by Bartel Associates,U.C.
25 Public Agency Retirement Systems Unfunded Liabilities 9/102010 101102014 Pacific Life Ins Legally enforceable retirement Merged - Y 9 -
(PARS)Notes Payable obligation for early retirement incentive
program and annuity contract with
Pacific Life Insurance Incorporated.
26 Unfunded OPEB Liabilities Unfunded Liabilities 6/302011 11/262024 CaIPERS/CERBT Unfunded actuarial accrued liability as Merged 247,354 N 6,222 $ 6,222
of June 30.2013 as per Bartel
Associates,L-C.
27 Obligation for unused employee Unfunded Uabllities 9/30/2011 1126I2024 City employees directly Obligation for unused employee Merged 49,fi62 N 11,541 S 13.541
General Leave earned and vested Jinvolved in Housing and General Leave earned and vested as
Redevelopment projects per MOUs and AS 1X26
and administration
28 Successor Agency Compliance per Professional 5/72007 4/302015 Tierra West Financial and Real estate consultant Merged N $ -
H 8 S Code 33433 Services
Recognized Obligation Payment Schedule(ROPS)14-16A-ROPS Detail
July 1,2014 through December 31,2014
(Report Amounts in Whole Dollars)
A B C D E F G H 1 J K L M N O P
Funding Source
Non-Redevelopment Property Tax Trust Fund
(Non-RPTTF) RPTTF
Contract/Agreement Contract/Agreement Total Outstanding
Item a Project Name/Debt Obligation CO tion T e Execution Date Termination Date Payee Description/Project Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds Non-Admin Admin Six-Month Total
29 Bella Tema Parking Infrastructure OPA/ODA/Construc0 10/2/2000 9/302025 Bella Terra Associates LLC Property Tax Sharing Agreement Merged 13,148,725 N $ -
Property Tax Sharing Agreement an required under the terms of the Owner
Participation Agreement(dated
1 0/212 0 0 0)and Second
Implementation Agreement(dated
9/172007)for the development of the
Huntington Center(Bella Terra).
Includes legal requirements to enforce
obligation.
30 Bella Tema Phase II Property Tax OPA/ODA/Construcb 10/42010 7/12036 Bella Terra Villas,LLC Agreement approved on October 4, Merged 24,651,414 N S -
Sharing Agreement on 2010 for construction of a 467 mixed-
se unit project.Construction is
complete and financed by property tax
allocations.Includes legal
requirements to implement obligation.
32 Operative Agreement for the City/County Loans 6/17/2002 10/1/2030 City of Huntington Beach Loan repayment for advance made on Southeast Coastal N $
Huntington Beach Redevelopment On or Before 627/11 capital projects in Fy 2004/05
Project
38 Litigation expenses for City of Litigation 7182012 7/8/2015 Kane Balmer&Berkman Payment of litigation costs incurred Merged&Southeast y S
Palmdale at al.v.Matosantos through June 30,2012 relating to Coastal
pursuant to Health and Safety Code application for a Temporary
Section 34171(d)(1)(F) 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
AS 1484
]Legal expenses for Successor Legal 7/8/2012 7/82015 Kane Balmer&Berkman Legal expenses to ensure Successor Merged&Southeast 75,000 N $
Agency compliance with AS ix 26 Agency compliance with AS ix 26 and Coastal
and AB 1484 pursuant to Health and AS 1484
Safety Code Section 34171(d)(1)(F)
40 Economic Analysis services related Professional 6/152010 6/152015 Keyser Marston Economic Analysis consulting services Merged&Southeast 100.000 N $to Successor Agency compliance Services to ensure Successor Agency Coastal
with AS 1 x 26 and AS 1484 compliance with AB 1 x 26 and AS
pursuant to Health and Safety Code 1484
Section 34171(d)(1)(F)
41 Huntington Center Redevelopment City/County Loans 619=05 10/1/2030 Successor Agency "11Land and Right-of-way acquisition Merged N ,y
Plan development On or Before 6/27l11 costs connected with the Gothard-
Hoover Extension project and
development of a public storage facility
42 Main-Pler Redevelopment Project City/County Loans 6/10/2005 10/12030 Successor Agency Costs incurred to acquire land within Merged N
Phase II On or Before 627/11 the Main-Pier project area for Phase II
development projects
I
43 Development of Downtown Main- City/County Loans 6/41199D 10/1/2030 Successor Agency Costs incurred to acquire land vdt in Merged N
Pier project area On or Before 627111 the Main-Pier project area to ,d
Implement the construction of parking "L
facilities within the Downtown Main-
Pier area
44 Third Block West City/County Loans 8/182005 1 D/1/2030 Successor Agency Relocation,property acquisition,and Merged N _
commercial/resldential project On or Before 6/27/11 other project costs associated with the
Third Block West
Candominium/Retait101fice project in
the Main-Pier Redevelopment project
Recognized Obligation Payment Schedule(ROPS)14-15A-ROPS Detail
July 1,2014 through December 31,2014
(Report Amounts in Whole Dollars)
A B C D E F G H I J K L M N O P
Funding Source
Non-Redevelopment Property Tex Trust Fund
(Non-RPTTF) RPTTF
Contract/Agreement Contract/Agreement Total Outstanding
Item# Project Name/Debt Obll abon Obll ation T Execution Date Termination Date Pa e Des-lion/Project Sc., Project toes Debt or Obligation Refired Bond Proceeds Reserve Balance Other Funds Nan-Admin Admin Six-Month Total
45 Second Block Alley and Street Bonds l..ued On or 6/10/2005 10/1/2030 Successor Agency Property acqulsition cost associated Merged !,s
Improvement Project Before 12/31110 with the Second Block alley and street
improvement project _ -
46 Strand Project Clty/County Loans 6/1812005 10/1/2030 Successor Agency Relocation costs pald to Wind and Sea Merged N
On or Before 6127111 Surf Shop
47 Pieralde Hotel/RetaNParking City/County Loans 5/15/1992 10/12030 Successor Agency Relocation costs paid to Tertys Coffee Merged N
Structure Project On or Before 627/11 Shop and First Interstate Bank
48 Waterfront Commercial Master Site City/County Loans 3/1/1989 1011/2030 Successor Agency Costs related to the relocation,buyout,Merged N r
Plan On or Before 627111 and demolition of Driftwood and Pacific *r
Mobil Home e e H e Perks related to the
Waterfront Commercial Master Site -
Plan
49 Strand Prois GirylCounry Loans 10/19/1992 10/1/2030 Successor Agency Property acquisition costs associated Mergetl N I
r-A?�tirEt{ On or Before 6/27111 with the Strand Project +-
50 Enforcement of Successor Agency Admin Costs 2/1/2012 11/26/2024 Successor Agency,Kane Successor Agency administrative Merged a Southeast N 315.330 250,000 $ 565,330
dissolution compliance and Ballmer,Keyser Marston, obligations relating to maintaining Coastal
monitoring per AS 1 X26 and and Macias Gini A payments on enforceable obligations
AB1484 O'Connell LLP at al and other activities es required by AS
1 X26
51 Successor Agency Property Property Dispositions 11/1/2010 11/26/2024 S&S Fencing,Al Fence Fencing to secure Successor Agency Merged 3,500 N 3.500 $ 3,500
Maintenance Fencing Co.,American Fence Property
Company
52 Successor Agency Property Property 11/1/2010 11262024 T.Green As needed weed abatement for Merged 4,000 N 4.000 $ 4,000
Maintenance-weed control Maintenance A e property
3 ErMrald._ e,Bond Issued - FJnerald cove 2010 Was A Lease '= MergtM;
Revenue Refunding Bond.Debt
}R; 1lb1l1 '° p
i.`"''. Service Pa menu ..
n 54 Pacific City-Very Low Income Units OPA/DDA/Constructi 10/16/2006 11/2612024 Housing Authority r Statutory housing obligation for Pacific Merged N $ -
on CityProject
55 Litigation expenses for City of Litigation 2152013 2152015 Kane Ballmer&Berkman Payment of litigation costs for property Merged N $ -
Huntington Beach v.Metosantos tax payments eligible under Health and
pursuant to Health and Safety Code Safety Code Section 34171(d)(1)(F)as
Section 34171(d)(1)(F) amended by AS 1484
56 RDA Dissolution Audit Dissolution Audits 10/8/2012 10/82015 Vavdnek,Trine&Day Ca Statutorily required review/audit to Merged&Southeast - N $
LLP wind down the RDA,such as due Coastal
diligence reviews
57 Bella Terra I Project Management Project Management 2JI2012 11262024 Clty of Huntington Beach Project management direct met for Merged N -- - -
Costs .versa in Bella Tema I
58 Bella Terra II Project Management Project Management 2112012 1126=24 City of Huntington Beach Project management direct cost for Merged N
costs overseeingBella Tema 2
59 CIM Project Management Project Management 211/2012 11262024 City of Huntington Beach Project management direct cost for Merged N
Coats overseeingCIM
60 Bella Tema I Financial Analysis Project Management 6/15/2010 11262024 Keyser Marston Project management direct cost for Merged N
Cost. Financial analysis-Bella Tema I
61 Bella Tema II Financial Analysis Project Management 61152010 11/262024 Keyser Marston Project management direct cost for Merged N
Costs I Financial analysis-Bella Tema II
62 CIM Financial Analysis Project Management 611512010 11262024 Keyser Marston Project management direct met for Merged N
_ Costa .JC>�7k �L/; financial anal la-CIM _
63 2002 Tax Allocation Rebinding Bonds Issued On or 6/19/2002 811/2024 Bank of New York Trust Co.Amount needed t-fund shortfall m Merged N $ -
Bonds Before 12/31/10 bond reserve account
64 Successor Agency Financial Dissolution Audits 11/4/2013 11/412016 Vavdnek,Trine 3 Day Co Statutorily required annual financial Merged 10,000, N $
Statement Audit LLP statement audit of Successor Agency.
Recognized Obligation Payment Schedule(ROPS)14-15A-ROPS Detail
July 1,2014 through December 31,2014
(Report Amounts in Whole Dollars)
A B c D E F G H 1 J K L M N O P
Funding Source
Non-Redevelopment Property Tax Trust Fund
Non-RPTTF RPTTF
Conhact/Agreement Contract/Agreement Total Outstanding
Item# Project Name/Debt Obligation Obligation Type Execution Date Termination Date Pa ee Descri lion/Pro ect Scope Project Area Debt or Obligation Retired Bond Proceeds Reserve Balance Other Funds Non-Admin Admin Six-Month Total
65 Edinger Hotel Project Project Management 1126/2014 1/2612017 AON Environmental Liability Policy for Merged 39,551 N 39,551 $ 39,551
Costs Edinger Parcel Policy#PLS 15012298
Housing Authority Administrative Admin Costs 2/18/2014 Housing Authority Housing Entity Administrative Cost Merged 150,000 $ 150,000
Cost Allowance r Allowance per AP 471
Recognized Obligation Payment Schedule(ROPS)14-15A-Report of Cash Balances
(Report Amounts in Whole Dollars)
Pursuant to Health and Safety 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 funding source is available or when payment from property
tax revenues is required by an enforceable obligation.
A B C D E F G H I
Fund Sources
Bond Proceeds Reserve Balance 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
Cash Balance Information by ROPS Period 12/31/10 01/01/11 1 balances retained bond payment Interest,Etc. Admin Comments
ROPS 13-14A Actuals 07/01/13-12/31/13
1 Beginning Available Cash Balance(Actual07/01/13)
Note that for the RPTTF,1+2 should tie to columns J and O in the Report
of Prior Period Adjustments PPAs 76,421
2 Revenue/Income(Actual 12/31/13)
Note that the RPTTF amounts should tie to the ROPS 13-14A distribution
from the County Auditor-Controller during June 2013 467,800 5,875,998
3 Expenditures for ROPS 13-14A Enforceable Obligations(Actual
12/31/13)
Note that for the RPTTF,3+4 should tie to columns L and Q in the Report
of PPAs 467,800 5,263,623
4 Retention of Available Cash Balance(Actual 12/31/13)
Note that the RPTTF amount should only include the retention of reserves
for debt service approved in ROPS 13-14A
5 ROPS 13-14A RPTTF Prior Period Adjustment
Note that the RPTTF amount should tie to column S in the Report of PPAs. Nb entry required
632,542
6 Ending Actual Available Cash Balance
CtoG=(1+2-3-4),H=(1+2-3-4-5) $ $ $ $ $. $ 56,254
ROPS 13-14B Estimate 01/01/14-06/30/14
7 Beginning Available Cash Balance(Actual 01101/14)
(C,D,E,G=4+6,F=H4+F4+F6,and H=5+6) $ $ $ $ $ $ 686,796
8 Revenue/Income(Estimate 06/30/14)
Note that the RPTTF amounts should tie to the ROPS 13-14B distribution
from the County Auditor-Controller during January 2014 315,330 5,655,611
9 Expenditures for 13-14B Enforceable Obligations(Estimate 06/30/14)
315,330 5,655,611
10 Retention of Available Cash Balance(Estimate 06/30114)
Note that the RPTTF amounts may include the retention of reserves for
debt service approved in ROPS 13-14B
11 Ending Estimated Available Cash Balance(7+8-9-10) $ $ $ $ $ $ 688,796
Recognized Obllg,fl-Payment Schedule(ROPS)14-16A-ft,-el Pd.,Paned Adjuabnenb
Repgded for Me ROPS 11l4A(July 1,2 l3 Mrodgh December 31,g818)Pmbd Pursuant b HedBh and Sdbty Cade(HSC)mctlon 34186(e)
WaPo't A,ne.nkn O.aan)
ROP41f-iM CAC PPA.Tebcbmpbbd by 2b,GCUPo sAtftle(Xn I40P31415A by Um 6AbFbarrt�aiid-`
ROPS 13A 4A Succeaaer Agency($A)Sell+cperted Pd.,Period Ad)uatmente(PPA):Pu.—to HSC S,—m S4186(.)SA.enr .i-to report Me tlelereneee blween thew.anal evalebk landing and lher ecNaIexpendltures for Me ROPS lY14A(J."—M h December2ei])perbtl.Tb M CAC.Nell Mat CACs MI medM Mar McXevih brmubsat An Am bm bwl purabarXMM mamar In a4ikh,
amopnt el Redevelopment Property Tax Tfual Funtl(RPTTF)approved br Me ROPS 1416A(Juty thlougM1 December 2g14)penod vnlb onset by Me SA s seH+epoRedROPS 1}14A goer penod adluabnenl.HSC SacM1on S4188(a)ahe specifies Matthe plbr perlotl atlluahnenfa sey+epede4 by SAS rte May I.d.M PPA.Abg mN Mat Ma dmh i.&k.de not deed fo be Aatad it-FMXfnbw(alid lnay be.
ectb eu&t by the coeMy audlbr<anbeMr CAC)andtM State CeMleller. anNrad akaluh
6P 5 T It Z M.
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ore Aftl— .—
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IRovs�itu IR vsRs.saA Noofrofarn.m
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O1,",,—n fnbeRnd Pctual Auteorind Nal sn31U nrolnce welnnn) kolaI nrolna NerlMrRl nc 'AmM1 kNe,
aema Oeat A A-A A—.- Ac Autharizaa g]It Anbble A-d APNodna An Arnal SA Commenu n a -
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Recognized Obligation Peymenl SCM1edule(RDPS)14-16A-Report of Prier Period Adjpatmenta
Repoded for Me RDPS 1—(July 1,2013 MmugM1 December S1,201))Peded PursueM b Hee%h end Selety Cetle(HSC)feclbn 34188(e)
Woven gm>umsin SSM1 ms1
ROPE 13-1UI CAC PPA To ba campht dby lh CAC OPo br%tel of tM ROP814-15A by tln SAb FYi nii Rnd
ROPS 1]-14A Succeasel AgllC(SA)6eff—peded Pdol Period Adjustment"(PPA):Pursuenf to HSC SeMmn 34186(e),SAe ere reguh"d to repod the ddbrenaa behveen their.—I eve leble Nnding and their.—I expendi—N,the ROPS 10.—(July IM1mugh December 201J)ported.TM tlw CAC.Noti Mt CACa MI naitl b aMar Mak ovld MmuYa Rt tln Bha%am MWI punwM la tl1a mamar ihvahkii
"mount ofR—.P (Pmp"dy Tex Tru3l Fmd(RPM)epp—d ter Me RDPS W M(July lheug,December 2C14)parlotl Sol be oI.t by the Ia"e%repelled ROPS 1}l4A pdnrPeriod adjustmentSC H SeMen-86(e)elao Sp i—MatMap-Period adN--fa ae%+"pedad by$AS ere My kbMl th PPA.Ako neli Mat tlla R6nF ambWNsdo of rmadbb%atotl attf3e%mb 1 I M'by b.
subjectM Imen eudt by the ceu eud lorcon%o9er(CAC)end Me Stela Centmllar. entered aa�luM -
f nRPTTF Exp<ndlNrea RPM ExP<ndiNrea .,,.RPTTFE ndlWres
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gbl9adon cruel en» tu>I "eglnee n-,N vv'nce Nel'M.Rlene 'A Ileblr r..�' chat CMmnw, Awllabla -t- gMmnu, NCMmnce-
erm Oeat pulnerh"4 Actual Aulner ve Amei pulnodzM A Aumedvtl O1 Awllv9" Ac qulM1orlv4 gil pwlable z Acual SA eemmenaa p
f - 3 - f i f -f ae1 W0 a 6,916v9f f ST...41e 3, Se IN f 6g13823 f e32Ae1 3 1..—f 150—3 - 150,00o f e3o.0oo f - 3 8 11,
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Recogniaetl Obligatlon Payment Schedule(ROPS)14-15A-Report of Prior Period Adju5lmenb
nepoded far the ROPS I114A(My 1,2013 Mrough December 31,2D13)Period PumuaM h Heath aM Safety Code MSC)Mnkn 34166(a)
gl.pan Amoumsin xrs)
ROPf 134M CAC PPA:Tobw phlatlMtln CAC upon YbNthiof tln ROP614.15A by1M SAb FIbMeaM-
=tl344ASupcesaorAgencylSA)Self*sported Prior Psrlod Adjl—nta(PPA):Pursuant to HSC S.ctbn 34186(a),SAs ere required to report the diner—.between Merectual avalWbbfundingend ihelr acNal axpendihresforth4 ROPS 13-1M(Jutythrough Oecember 2013)peripd.The Ate CAC.NW Mat CA A bleed to enter thab owMb Vhset An Am ha I.Q p....,A lha mamerInskh'
amount al R.deoelap.—Property Tex Twt FXnd(RPTTF)epp—d for the ROPE 14-15A(July lhrough Dezember2014)Perlad 143 be aRa.t by the SAs-N-reported ROPE f1l 4A prior period adjuetmanl.MC6eNan 3/1.61.)a ft.—irle ethal Na prbr period adI.—.n.aeS*eperxd by 6As are IMycakuhh On PPA Ahonabt t the admklamourb dp tnl.d t'r lhxd ilMe lne pam 1u1 aM my
ect to eudlt by the covMy aud'tor<ontroler(CAC)end tM Sxb Controller, engred u a Ium
E T
W—TTF EXpend1l.— RPTTF Es sndiNrea RPTTFE anditurn
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A-11— bat n31 rnlw 4>Id rnr9 unl ncX un lRaRl ne hXl.s, .zeal ,.. bbh, aRrY olX.nnu xn Mllmnu.
Saul - S -$ Ac 467.0 5 rSJV 419 3 A AS013.823 3 a32.542 3 Au 000 3 000 3 An1 ,000 3I 3 0.542
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d2t1alI+IIFl - -
Recognized ObIlgation Payment Schedule 14-1 SA-Notes
July 1,2014 through December 31,2014
Item# Notes/CoTments-
Ices. No. 2014-01
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF HUNTINGTON BEACH )
I, JOAN FLYNN, Secretary of the Huntington Beach Oversight Board of the
Successor Agency of the Former City of Huntington Beach Redevelopment Agency, Huntington
Beach, California DO HEREBY CERTIFY that the foregoing resolution was duly adopted by the
Huntington Beach Oversight Board of the Successor Agency of the Former City of Huntington
Beach Redevelopment Agency at a meeting held on February 26,2014 and that it was so
adopted by the following vote:
AYES: Board Members: Bone, Carchio, Delgado, A. Dunn, Fritzal,Harper
NOES: Board Members: None
ABSENT: Board Members: L. Dunn
ABSTAIN: Board Members: None
Secreta of the Huntington ach Oversight
Board f the Successor Age cy of the Former
City o untington Beach Redevelopment
Agency Huntington Beach, California
"Board Member Bonne recused himself on line 2 & 13 of the RODS
Oversight Board
RESOLUTION NO. 2014- 02
A RESOLUTION OF THE OVERSIGHT BOARD 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 THOUGH
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 Oversight Board of the Successor Agency to the
Redevelopment Agency of the City of Huntington Beach does hereby resolve as follows:
1. The Oversight Board 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 Oversight Board does not intend, by adoption of this Resolution, to waive
any constitutional, legal and/or equitable rights of the Oversight Board, 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 Oversight Board, the Successor Agency and the City of Huntington Beach
under law and/or in equity.
14-4132/105488 1
Oversight Board Resolution No. 2014-02
PASSED AND ADOPTED by the Oversight Board of the Successor Agency to the
Redevelopment Agency of the City of Huntington Beach at a regular meeting thereof held on the
26th day of February,, 2014
Chairman
REVIEWED AND APPROVED:
Ex Iti e Pirector
APPROVED AS TO FORM:
S-n Agency Couksel
14-4132/105488 2
Oversight Board Resolution No. 2014-02
EXHIBIT A
ADMINISTRATIVE BUDGET FOR THE PERIOD
JULY 1, 2014 THROUGH DECEMBER 31, 2014
[behind this page]
l 4-4132/l 05488 3
Successor Agency
Administrative Budget
Department Budget Summary
Other Funds by Object Account
OTHER FUNDS
.. 5
WN
RORF Administration(35o)
PERSONAL SERVICES
Salaries/Benefits-Permanent 198,716 140,330 140,330
PERSONAL SERVICES? Y.,,; " _ 198 Z16 14Q,33Q_;< __ .;,�1'40 330Q
� �_
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
OPERATING=EXPENSE_S . : , .. ,.s:, _ _z :: 425 000 ,. _,_' . ;4263,Q98 v . , .: `425 000
Total 623,716 403,428 565,330
o
4
Mw,r
i..ya•,f' �,��x.i��'�� � a'�S,x3,c `:._ �,?.s`'3- nu���. s� �r� �-fez ��� �+s' �� ��f s sfi> �.s$�'}�.a �`.:
Q���� ROBud et 4Ati���ROBud et�����_�ROButJ et
Administrative Allowance 250,000 88,098 250,000
Other Funds 373,716 315,330 315,330
Total 623,716 403,428 565,330
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.
Iles. No. 2014-02
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF HUNTINGTON BEACH )
I, JOAN FLYNN, Secretary of the Huntington Beach Oversight Board of the
Successor Agency of the Former City of Huntington Beach Redevelopment Agency, Huntington
Beach, California DO HEREBY CERTIFY that the foregoing resolution was duly adopted by the
Huntington Beach Oversight Board of the Successor Agency of the Former City of Huntington
Beach Redevelopment Agency at a meeting held on February 26, 2014 and that it was so
adopted by the following vote:
AYES: Board Members: Bone, Carchio, Delgado, A. Dunn, Fritzal, Harper
NOES: Board Members: None
ABSENT: Board Members: L. Dunn
ABSTAIN: Board Members: None
Secret of the Huntington e ch Oversight
Board the Successor AgenIV of the Former
City o Huntington Beach Redevelopment
Agency Huntington Beach, California