HomeMy WebLinkAbout2009-2010 State Controller's Report Received and Filed r
Council/Agency Meeting Held:_V / 20
Deferred/Continued to:
AAp oved ❑ Conditionally Approved ❑ Denied k &e FY CIA's E6fiature
Council Meeting Date: April 18, 2011 Department ID Number: ED 11-11
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: Stanley Smalewitz, Deputy Executive Director/Director of Economic
Development
Lori Ann Farrell, Finance Director
SUBJECT: Receive and File 2009-2010 State Controller's Report
Statement of Issue: Section 33080.1 of the State of California Health and Safety Code
requires that the Redevelopment Agency (Agency) prepare an Annual Report of the
Agency's activities sent to the State Controller's Office within 180 days following the end of
the public entity's fiscal year.
Financial Impact: Not applicable.
Redevelopment Agency Recommended Action: Motion to:
Receive and File the 2009-2010 State Controller's Report.
Alternative Action(s): Not Applicable.
H - 3- Item 4. - 1
Redevelopment Agency of the City of Huntington Beach
a Management's Discussion and Analysis
f
For the Year Ended September 30, 2010
expenditures of the current period. Revenues are recorded when received- in cash, except
that revenues subject to accrual (generally received within 60 days after year-end) are
recognized when due. The primary source of revenue, which has been treated as
susceptible to accrual by the Agency, is property tax. Expenditures are recorded in the
accounting period in which the related fund liability is incurred.
The differences between the Governmental Fund financial statements and the
Government-Wide financial statements are explained in the reconciliation following each
Governmental Fund financial statement.
GOVERNMENT-WIDE FINANCIAL ANALYSIS
The Agency's combined net assets for the year ended September 30, 2010 was
($59,421,000). Under state law, the Redevelopment Agencies' primary source of revenue
is tax increment derived from increases in public and private investments resulting from
improvements of properties that fall within the boundaries of a redevelopment project.
These tax increment revenues are not sufficient to finance the activities of the Agency;
therefore, the Agency usually issues bonds. These bonds are to be repaid over time solely
from tax increments revenues. Redevelopment Agencies can only collect property tax
increments to the extent it has debt on its books. The table below is a summary of key
items in the Government-Wide Financial Analysis (in thousands):
See Independent Auditor's Report and Notes to the Financial Statements
Item 4. - 10 H - 2- 4
l
'. Redevelopment Agency of the City of Huntington Beach
Management's Discussion and Analysis
For the Year Ended September 30, 2010
Percent
Increase Increase
2010 Amount 2009 Amount (Decrease) (Decrease)
Assets
Current and Other Assets $ 26,949 $ 46,429 $ (19,480) -42.0%
Land Held for Resale 6,158 $ 9,662 (3,504) -36.3%
Capital Assets 48,777 47,056 1,721 3.7%
Total Assets 81,884 103,147 (21,263) -20.6%
Liabilities
Current Liabilities 2,068 25,403 (23,335) -91.9%
Debt Payable to City of Huntington Beach 85,144 88,597 (3,453) -3.9%
Long-Term Liabilities Payable within one y, 2,454 1,610 844 52.4%
Long-Term Liabilities 51,639 54,271 (2,632) -4.8%
Total Liabilities 141,305 169,881 (28,576) -16.8%
Net Assets
Invested in Capital Assets -
Net of Related Debt 48,777 38,867 9,910 25.5%
Restricted 345 516 (171) -33.1%
Unrestricted (108,543) (106,117) (2,426) 2.3%
Total Net Assets (59,421) (66,734) 7,313 -11.0%
Expenses, net of program revenues
Economic Development 17,635 (11,214) 28,849 N/A
City Attorney 115 141 (26) -18.4%
Community Services 90 345 (255) -73.9%
Public Works 93 157 (64) -40.8%
Non-departmental and Transfers - 351 (351) N/A
Interest 6,378 11,524 (5,146) -44.7%
Total Expenses, net of program revenue 24,311 1,304 23,007 N/A
General Revenues
Property Taxes 26,988 18,371 8,617 46.9%
Use of Money and Property 1,861 2,192 (331) -15.1%
From Other Agencies 2,156 843 1,313 N/A
Other 619 3,650 (3,031) N/A
Total General Revenues 31,624 25,056 6,568 26.2%
Excess of Revenue over Expense 7,313 23,752 (16,439) N/A
Transfers (3,504) 3,504 N/A
Net Assets -Beginning of Year (66,734) (86,982) 20,248 -23.3%
Net Assets-End of Year(Deficit) $ (59,421) $ (66,734) $ 7,313 -11.0%
The Current and Other Assets and Current Liabilities decreased by $19,480,000 and
$23,335,000 respectively due to Net Other Receivables. As of September 30, 2010, the
total Other Receivables was $35,264,000, which includes the $8,070,000 notes receivable
established for the sale of the Emerald Cove Apartments to Jamboree Housing
See Independent Auditor's Report and Notes to the Financial Statements
H -63- Item 4. - 11
Redevelopment Agency of the City of Huntington Beach
Management's Discussion and Analysis
For the Year Ended September 30, 2010
Corporation. That amount was reduced by the $26,404,000 transfer from Low Income
Receivables to the Allowance for Uncollectible Developer Loans account. The Agency's
notes receivable is further illustrated in Note 10 of the Financial Statements.
The total Economic Development expenses for fiscal year 2008/09 were ($11,214,000). A
portion of the $29,903,000 Strand Parking Structure was donated by the developer to the
Agency, which offset the Economic Development expenses in the Statement of Activities.
FUND FINANCIAL ANALYSIS
Below is an analysis of the Agency's various fund financial activities (in thousands):
Percent
Increase Increase
2010 Amount 2009 Amount (Decrease) (Decrease)
Huntington Beach Project Area #1
Total Assets $ 9,757 $ 13,359 $ (3,602) -27.0%
Total Liabilities 1,487 1,832 (345) -18.8%
Fund Balance 8,270 11,527 (3,257) -28.3%
Revenues 1,789 1,420 369 26.0%
Expenditures 5,046 14,667 (9,621) -65.6%
Southeast Coastal Project Area
Total Assets - 1 (1) N/A
Total Liabilities 461 455 6 1.3%
Fund Balance (461) (454) (7) 1.5%
Revenues - 343 (343) N/A
Expenditures 7 536 (529) -98.7%
Low -Income Housing
Total Assets 21,855 36,286 (14,431) -39.8%
Total Liabilities 10,446 24,269 (13,823) -57.0%
Fund Balance 11,409 12,017 (608) -5.1%
Revenues 2,679 4,189 (1,510) -36.0%
Expenditures 6,924 4,047 2,877 71.1%
Debt Service Fund -Huntington Beach
Total Assets 7,045 7,521 (476) -6.3%
Total Liabilities 7,979 3,774 4,205 111.4%
Fund Balance (934) 3,747 (4,681) -124.9%
Revenues 18,294 18,964 (670) -3.5%
Expenditures 19,346 14,222 5,124 36.0%
Debt Service Fund -Southeast Coastal
Total Assets 1,084 1,044 40 3.8%
Total Liabilities 302 302 - N/A
Fund Balance 782 742 40 5.4%
Revenues 60 154 (94) -61.0%
Expenditures 12 385 (373) -96.9%
See Independent Auditor's Report and Notes to the Financial Statements
Item 4. - 12 HB - - 6
Redevelopment Agency of the City of Huntington Beach
Management's Discussion and Analysis
For the Year Ended September 30, 2010
The expenditures for the Huntington Beach Project Area #1 and Southeast Coastal Project
Area decreased by $9,621,000 and $529,000 respectively. In fiscal year 2009/10, there
was no tax increment received for the Southeast Coastal Project Area due to the decline in
property tax value.
DEBT ADMINISTRATION
A summary of the Agency's debt at year-end is (in thousands):
Percent
Increase Increase
2010 Amount 2009 Amount (Decrease) (Decrease)
Debt Payable to City of Huntington Beach $ 85,550 $ 88,597 $ (3,047) -3.4%
Bonds Payable 21,080 22,400 (1,320) -5.9%
Notes Payable 4,365 4,455 (90) -2.0%
Disposition and Development Agreement 28,113 28,919 (806) -2.8%
Other Debt 129 107 22 20.6%
Total Debt $ 139,237 $ 144,478 $ (5,241) -3.6%
Changes to the Agency's long-term debt are discussed in further detail in Note 7 of the
Financial Statements.
CAPITAL ASSETS
The Agency's capital assets for the year ended September 30, 2010 are $48,777,000,
which consists of land $17,153,000 and building structures $31,624,000. These amounts
are recorded as part of the net capital assets of the Agency in the Government-Wide
Financial Statements. The Agency's capital asset activity is further illustrated in Note 5 of
the Financial Statements.
OTHER INFORMATION
Below are descriptions of the some of the Agency's activities during the year.
Huntington Beach (Merged Project Area)
The Strand is a mixed-use project developed by CIM Group on a 3-acre site in the
downtown area. The Strand offers approximately 110,000 square feet of retail and office
space. The Shorebreak Hotel is a 157-room luxury boutique hotel operated by Joie de
Vivre Hospitality. Ample parking is available in a subterranean structure. Retail tenants
include Forever 21, G by Guess, Sketchers, CVS, Marilee's Swimwear, Rip Curl, and
See Independent Auditor's Report and Notes to the Financial Statements
HB -6 - Item 4. - 13
Redevelopment Agency of the City of Huntington Beach
Management's Discussion and Analysis
For the Year Ended September 30, 2010
Active Ride. Dining options include Johnny Rockets and RA Sushi. Portions of the retail
development and parking structure opened in November 2008 and the hotel opened in April
2009. The office space was occupied in June 2010.
Pacific City was developed by Makar Properties on a 31-acre site at Pacific Coast
Highway and First Street. The site has now been secured by Farrallon Capital and
Greenfield Development for future development. A Community Facilities District is
proposed to fund the majority of the public works improvements. The plan is for 516
upscale residential housing units built in four phases, ranging from 969 to 2,500 square
feet. The residential village, totaling 17.2 acres and consisting of four distinct styles, will act
as the cornerstone of Pacific City, allowing residents close access to shops, restaurants
with 48,900 square feet of restaurant space and 30,000 square feet of office space. This
community will encompass 191,000 square feet of the retail center featuring luxurious retail
brands, prime office space, dining, and entertainment. Pacific City is expected to open in
late 2015. Currently, the plan calls for the "W" as the hotel operator for the boutique hotel
that will feature 157 rooms. The hotel will be the first "W" in Orange County and also the
first oceanfront"W" hotel. The "W" hotel is expected to open by 2016.
Surf City Nights is a street fair/farmer's market that takes place between 5 p.m. - 9 p.m.
on Tuesday nights on the first three blocks of downtown Main Street between Pacific Coast
Highway and Orange Avenue. The Downtown Business Improvement District maintains
the Surf City Nights where residents and visitors regularly take an evening stroll and dine at
local restaurants. The street fair includes a farmer's market, live entertainment, children's
activities, retail sales, food, arts, and crafts.
Bella Terra I — Formerly known as Huntington Center has been transformed into an
entertainment/life style center. This was an outdated 56.5-acre retail property. With the
approval of the Second Implementation Agreement on September 17, 2007, the Agency
commenced payment of its obligation of $15 million to the developer. The balance of these
obligations is $14,076,000 as of September 30, 2010. The approximate 1,532 space public
parking garage, funded by the Community Facilities District 2003-1 (Huntington Center),
opened on October 1, 2005.
Bella Terra II — Bella Terra Associates, LLC purchased the former Montgomery Wards
13.5 acre portion of the site that has been left vacant for a number of years. DJM Capital
has amended the specific plan and environmental impact report and has been entitled to
develop The Crossings at Bella Terra, a mixed-use project that will consist of 156,000
square feet of retail and 503-700 residential units. Negotiations were finalized in October
2010, providing for assistance for the development of Affordable Housing commencing with
the development of the project within the next two years.
Specific and Economic Revitalization Plan for Beach Boulevard and Edinger Corridor
— The Agency/City commenced the preparation of an Economic Revitalization Strategic
Plan to enhance and maximize the potential of these major thoroughfares in 2009. The
See Independent Auditor's Report and Notes to the Financial Statements
Item 4. - 14 HB - - 8
f
Redevelopment Agency of the City of Huntington Beach
Management's Discussion and Analysis
For the Year Ended September 30, 2010
f .
analysis in supporting the proposed land-use changes were based upon economic trends
and community goals. . Community meetings, meetings with property owners, and
interested parties were conducted over the last two years. The Beach Edinger Specific
Plan and Environmental Impact Report was approved by the City Council on March 1,
2010.
Downtown Specific Plan (DTSP) and Downtown Parking Master Plan — The Agency
and land use/economic/traffic consultants updated the Downtown Specific Plan (DTSP) and
Downtown Parking Master Plan (DPMP). The update will assist in the redevelopment of
blighted and/or underutilized parcels. The DTSP developed land use provisions and urban
design guidelines that support and encourage a mixed-use development community. Five
town hall meetings consisting of community members, property owners, and interested
parties were held to discuss the future of downtown. The Environmental Impact Report
(EIR) was developed. The City Council approved the EIR in November 2009 and the
Downtown Specific Plan in January 2010.
Waterfront Project/Grand Coast Development —The Agency entered into an Amended
and Restated Disposition and Development Agreement in 1998 and has since been
amended several times. A Community Facilities District was formed for the development of
the Hyatt Regency Huntington Beach Resort and Spa and Its Conference Center. The
,Hyatt Regency Huntington Beach Resort & Spa and its Conference Center was opened in
January 2003 and the Hilton opened in July 1990.
The Developer's Advance Loan Balance is $6,153,000 as of September 30, 2010. An
Implementation Agreement to the Disposition and Development Agreement (DDA) was
approved between the Redevelopment Agency ("Agency") and Mayer Financial, L.P.
("Developer") in October 2008. The Third Implementation Agreement that relates to the
timeframe for development of Parcel C will result in a third hotel at this location. Parcel C is
located between the Waterfront Hilton and the Hyatt Resort and Spa. Each extension also
requires a payment of $250,000 from the Developer to the City to compensate for an
estimated loss in Transient Occupancy Tax (TOT) that the City would have received as a
result of the additional hotel. A Fourth Implementation Agreement has been negotiated
extending the time period by six (6) months for construction of Parcel C and is scheduled
for October 2010. The project also pays lease payments to the Agency on an annual basis.
The third hotel should be open by 2019.
Capital Improvements/Facilities — The one time revenue of $19 million from the
Redevelopment Agency's participation payments from the Waterfront Residential project is
funding various public improvements within the City's Merged Redevelopment Project Area.
The revenue received during 2004-2006 has been expended over several years through
the City's Capital Improvement Program (CIP). Approximately $18.5 million has been
allocated for capital projects that include the Civic Center seismic retrofit (matched with
FEMA funds), drainage improvements, concrete and asphalt replacement, streetlight
replacements, restrooms north of the pier, permanent buildings on the pier, a visitor's kiosk
See Independent Auditor's Report and Notes to the Financial Statements
HB - 7- Item 4. - 15
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Fiscal Year 12011 --�
Project Area Name Consolidated Low and Moderate Income Housing Funds --�
Capital Project Debt Service Low/Moderate Special
Funds Funds Income Housing Revenue/Other Total
Decline in Value of Land Held for Resale $0
Rehabilitation Costs
Rehabilitation Grants _ $0
Interest Expense $0
Fixed Asset Acquisitions __ so
Subsidies to Low and Moderate Income $0 1
Housing .._m,..._.,....__..._.......__.�..._....
Debt Issuance Costs
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Other Expenditures Including Pass- 0 $0
Through Payment(s)
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Debt Principal Payments:
Tax Allocation Bonds and Notes
Revenue Bonds,iCertificates of $0
Participation, Financing Authority
Bonds
City/County Advances and Loans 405,000 $405,000 i
All Other Long-Term Debt
Total Expenditures $0 _ _ $0 _ $6 � _$0 $8,92'Ss833.•,_l
Excess(Deficiency)Revenues $0 $0 $4 245,981 $0 $4,245,981
over(under)Expenditures
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Fiscal Year 12011
Project Area Name Huntin ton Beach Redevelopment Project Area No, 1
Capital Project Debt Service Low/Moderate Special
Funds Funds Income Housing Revenue/Other Total
Administration Costs 1,201,004 392,924
Professional Services 544,254 1,800 $5461054
Planning,Survey,and Design $0.
Real Estate Purchases $0
Acquisition Expense
Operation of Acquired Property $0
Relocation Costs $0—J
Relocation Payments l 7 $0�
00 Site Clearance Costs _.� $0
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Project Improvement/Construction Cost 3,084,301C-n $3,084,301
Disposal Costs _ $0
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Fiscal Year 12011
Project Area Name lHuntington Beach Redevelopment Project Area No. 1
Capital Project Debt Service Low/Moderate Special
Funds Funds Income Housing Revenue/Other Total
Decline in Value of Land Held for Resale $0 1
Rehabilitation Costs $p
Rehabilitation Grants $0
Interest Expense 3,317,663 $3 317,663
Fixed Asset Acquisitions $0 s
Subsidies to Low and Moderate Income $0 i
Housing
Debt Issuance CostsCID
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Other Expenditures Including Pass- 7,892,318 1 $7,892,318
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Debt Principal Payments:
Tax Allocation Bonds and Notes 1,320,000 _$1,320,000_j
Revenue Bonds,,Certificates of -7` $0
Participation, Financing Authority
Bonds
City/County Advances and Loans 216,0007 55,307,000� _ $5 523,000 ?
All Other Long-Term Debt 1,115,000 $1 115,000
Total Expenditures _ $5,045,559 $19,346,705 $0 _ $0 $24�392,264
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Fiscal Year 12011
Project Area Name Southeast Coastal Redevelopment Proiect
Capital Project Debt Service Low/Moderate Special
Funds Funds Income Housing Revenue/Other Total
Administration Costs 7,475 $7,475
Professional Services „__•._�,,, _„•_,$�_1
Planning,Survey,and Design $�
Real Estate Purchases $0_
Acquisition Expense _ $�
Operation of Acquired Property _.._ _ $o
Relocation Costs
Relocation Payments
Site Clearance Costs _.� $0 i
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Disposal Costs $d
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Fiscal Year 2611
Project Area Name Southeast Coastal Redevelopment Project
Capital Project Debt Service Low/Moderate Special
Funds Funds Income Housing Revenue/Other Total
Decline in Value of Land Held for Resale $0
Rehabilitation Costs $0 i
Rehabilitation Grants _�._...$0
Interest Expense $0
Fixed Asset Acquisitions $0 s
Subsidies to Low and Moderate Income $0
Housing
Debt Issuance Costs $0
Other Expenditures Including Pass- 11,195 $11,195
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Debt Principal Payments:
Tax Allocation Bonds and Notes � �_ _ _ „ T $o j
Revenue Bonds, Certificates of
Participation, Financing Authority
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All Other Long-Term Debt
Total Expenditures _ M $7�475 $11,195 __ _..." $0
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Fiscal Year 12011
Project Area Name Consolidated Low and Moderate Income Housina Funds
Capital Project Debt Service Low/Moderate Special
Funds Funds Income Housing Revenue/Other Total
Proceeds of Long-Term Debt
Proceeds of Refunding Bonds _ .....
Payment to Refunded Bond Escrow Agent ^ $0
Advances from City/County _ . $0
Sale of Fixed Assets
Miscellaneous Financing Sources(Uses) $0
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Tax Increment.Transfers In 3,637,000 $3,6379000
Operating Transfers Out $0
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Fiscal Year 12011____
Project Area Name Iconsolidated Low and Moderate Income Housing Funds
Capital Project Debt Service Low/Moderate Special
Funds Funds Income Housing Revenue/Other Total
Excess(Deficiency)of Revenues and _ $0 _ $0 ($608,981y _ $0
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Uses
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Fiscal Year 12011
Project Area Name 111untinaton Beach Redevelopment Project Area No. 1
Capital Project Debt Service Low/Moderate Special
Funds Funds Income Housing Revenue/Other Total
Excess(Deficiency)of Revenues and $3,256,250 $4,681,264 $0 $0 $7,937,514 '
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Fiscal Year 12011
Project Area Name ISoutheast Coastal Redevelopment Project
Capital Project Debt Service Low/Moderate Special
Funds Funds Income Housing Revenue/Other Total
Proceeds of Long-Term Debt $0
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Project Area Name Southeast Coastal Redevelopment Project
Capital Project Debt Service Low/Moderate Special
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Uses
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Fiscal Year 2011 Capital Projects Debt Service Income Housing Revenue/Other General Long- General Fixed
Funds Funds Funds Funds Term Debt Assets Total
Assets and Other Debits
Cash and Imprest Cash 2,626,648 01 8,549,340 1 JJJJJNffMJJWM$11,175,988
Cash with Fiscal Agent 2,402,319 7402,319
Tax Increments Receivable 4,509,650 $4,509,650
Accounts Receivable -940 135,929 618,410 $753,399
Accrued Interest Receivable 9,942 27,118 $37,060
Loans Receivable 8,070,000 1 M$8,070,000
Contracts Receivable $0
= Lease Payments Receivable, $003
Unearned Finance Charge �� $0
t) Due from Capital Projects Fund 460,961 1,362,614 $1,823,575
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Due from Low/Moderate �. ,$0 .
Income Housing Fund
Due from Special __._..„ _ $0
Revenue/Other Funds
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Fiscal Year 2011 Capital Projects Debt Service Income Housing Revenue/Other General Long- General Fixed
Funds Funds Funds Funds Term Debt Assets Total
Investments
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Other Assets 302,489 $302,489
Investments: Land Held for 6,158,399 $6,158,399
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Allowance for Decline In $0 _,
Value of Land Held for Resale
Fixed Assets:Land, 48,777,000 $48,777,000
Structures,and Improvements
Equipment
Amount Available In Debt $0
Service Fund
CID
Amount to be Provided for 139,237,000 $139,237,000 ;
Payment of Long-Term Debt
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Total Assets and Other $9,756,499 $8,128,898 M•• $21,855,188 _ $0 $139,237,000 $48�777,000 _ _"$227,754,585 s
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Fiscal Year 2011 Capital Projects Debt Service Income Housing Revenue/Other General Long- General Fixed
Funds Funds Funds Funds Term Debt Assets Total
Liabilities and Other Credits
Accounts Payable 123,909 --T� 93,156 $217,065
Interest Payable $
Tax Anticipation Notes Payable $0
Loans Payable $0
Other Liabilities 3,773,291 10,353,740 $14,127,031
Due to Capital Projects Fund 460,961 199,000 $659,961
Due to Debt Service Fund7 1,0817000 $1,0811000
Due to Low/Moderate 1,362,614 3,227,706
Income Housing Fund
Due to Special
Revenue/Other Funds
Tax Allocation Bonds Payable MENEM= 1 21,080,000 $21,0800000 g
Lease Revenue,Certificates $0
of Participation Payable, __..,._._._......._.._...._.n_.....,
Financing Authority Bonds
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All Other Long-Term Deb 118,157.000 $118,157,000
Total Liabilities and Other $1 947 484 $8,280,997 $10 446,896 $0 $139,237 000 $159,912,377 1
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Fiscal Year 2011 Capital Projects Debt Service Income Housing Revenue/Other General Long- General Fixed
Funds Funds Funds Funds Term Debt Assets Total
Equities
Investment In General 48,777,000 $48,777 000
Fixed Assets
Fund Balance Reserved 7,809,015 -152,099 11,408,292 $19,065,208
Fund Balance ��- $0
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Fund Balance [ $0
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Total Equities _$7,809,015 ($152,099) $11 408,292 .$0.__' _ e$48,777,000_ wM $67,842,208 ;
Total Liabilities,
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$9,756,499 $8,128,898 $21,855,188_ $0 $139,237,000 $48,777,000 $227,754,585
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Tax Increment Transfers Out $3,637•,000
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Redevelopment Agencies Financial Transactions Report
Statement of Income and Expenditures
Revenues-Consolidated
Fiscal Year 2011
Low/Moderate Special
Captiai Project Debt Service Income Housing Revenue/Other
Funds Funds Funds Funds Total
Tax Increment Gross $0 $18,186,295 $0 $0 $18,186,295
Special Supplemental Subvention $0 $0 _ $0_ M $0 $0 !
Property Assessments
Sales and Use Tax $0 $0 $0 $0 $0
Transient Occupancy Tax $0 $0 $0 $0 $0
Interest Income $48 305 _ $167,917 $156,647 $0 $372,869
Rental Income $0 $0 $0 $0 $0
Lease Income $677,598 _$0 $810,818 $0 $1,488,416
Sale of Real Estate
Gain on Land Held for Resale µ$0 $0 $0 $0 $0 i
Federal Grants $0 $0 $1,221 741 $0 $1,221,741
Grants from Other Agencies $0 $0 $0 $0
Bond Administrative Fees .$0 m M _ $0 $0 $0 $0
Other Revenues $1,063,406 $0 $490,646 $0 $1,554,052
Total Revenues I __ $1,789,309 $18,354,212 ___$2,679,852 $0 $22,823,373 j
Revenues-Consolidated Page 1 3/22/2011
Redevelopment Agency Of The City Of Huntington Beach
Redevelopment Agencies Financial 'Transactions Report
Statement of Income and Expenditures
Expenditures• Consolidated
Fiscal Year 2011
Low/Moderate Special
Capital Projects Debt Service Income Housing Revenue/Other
Funds Funds Funds Funds Total
Administration Costs $1,208,479 $392,924 $706,640
Professional Services $544,254 $1,800 $144,339 $0
Planning,Survey,and Design $0 $0 $0 $0 _ $0
Real Estate Purchases $0 $0 $4,166,063
Acquisition Expense $0 $0. __.___._..___.____,,..,....$0.._
Operation of Acquired Property $�..._ ............. ......................„$Q...... .... ........ ... ..... ......_ .........._.._......_........_$t1..........,....._.................-......................
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Relocation Costs $0 $0 $0 $0 $0
Relocation Payments _„, $0_ $0 $0 $0 _ _ $0„
Site Clearance Costs _.._....__..._._$�_..._._.._._.__._._._.__.$0.... $0.._ .....,..._ $0 $0
= Project Improvement I Construction $3,084,301 $0 $1,503,791 $0 $4,588,092 ?
Costs
0-) Disposal Costs _.$� ._._ _ $0 .__$0 . _$0 $0
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-� Redevelopment Agencies Financial Transactions Report
00 Statement of Income and Expenditures
Expenditures-Consolidated
Fiscal Year 2011
Capital Projects Debt Service Low/Moderate Special Total
Funds Funds Income Housing Revenue/Other
Funds Funds
A B C D E
Decline in Value of Land Held for $0 $0 $0 $0 $0 1
Resale _......._,,. . ...
Rehabilitation Costs $0..... .._.., _$�,...._.....,...,.._..,.., $0 ..'7_.._...._$0_J
Rehabilitation Grants $0 .... .. $0 $0 w $0 $0 f
Interest Expense 317,663 $0 $3.3173,66 f
.. .._...._._......_ ....__.$�._....._....._...... .........� . ... _ _._..
Fixed Asset Acquisitions „ $0 $0 mm _ $0 _ $0 _ $0 1
Subsidies to Low and Moderate
Income Housing Fund
Debt Issuance Costs $0 $0 $0 $0 $0
Other Expenditures Including Pass $0 $7,903,513 $0 $0 $7 903 513
Through Payment(s)
0
Debt Principal Payments:
Tax Allocation Bonds and Notes $0 $1,320,000 $0 $0 $1.320,000 I
Revenue Bonds and $0 $0 $0 $0 $0
Certificates of Participation
CitylCounty Advances and Loans _1 e$?16,000 _ $5,307,000 $405,000 � $0 _ $5,928 000
U.S.,State and Other Long-Term Debt $0 $1,115,000 $0 ___ 7_,. $0_ _ $1,115000
Total Expenditures $5053,034 �$19357�900_ $6,925l833 $0 $31,336,767_]
Excess(Deficiency)Revenues ($4,245,981.)....__.__..... .._.............$0._,..
Over(Under)Expenditures
Expenditures-Consolidated Page 2 3122/2011
Redevelopment Agency Of The City Of Huntington Beach
Redevelopment Agencies Financial Transactions Report
Statement of Income and Expenditures
Other Financing Sources (Uses)-Consolidated
Fiscal Year 2011
Low/Moderate Special
Capital Projects Debt Service Income Housing Revenue/Other
Funds Funds Funds Funds Total
Proceeds of Long-Term Debt
Proceeds of Refunding Bonds $0 $0 $0 $0 $0
Payment to Refunded Bond Escrow
Agent
Advances from City/County _....._......._. _._._..$�_. _._......_. __._._._.$Q. _ _ .._�$� $� $0 _.
Sale of Fixed Assets $Q..__ ..____. _.._....___$0 _ _._._....__. $� _.,.._.._._ ._. $0 _.�_. . $0 .
777 Miscellaneous Financing Sources(Uses) __ $0 $0 $0 $0 $0
Operating Transfers in _$0 _ $0 __ $0 _�$0 $0 .l
,. _
Tax Increment Transfers In $3,637000 $3,637,000 I
—' Operating Transfers Out 30 $0 $0
Tax Increment Transfers Out $0 $3,637;000 $3,637,000
(To the Low and Moderate Income
Housing Fund)
Total Other Financing Sources (Uses) $0 ($3,637,000)_ _ $3,637,000 x r$0 ARM $0
(D Other Financing Sources(Uses)-Consolidated Page 1 3/22/2011
3
i
CO
CD
3
' Redevelopment Agency Of The City Of Huntington Beach
oRedevelopment Agencies Financial Transactions Report
Statement of income and Expenditures
Other Financing Sources(Uses)-Consolidated
Capital projects Debt Service Low/Moderate Special Total
Funds Funds Income Housing Revenue/Other
Funds Funds
A B C D E
Excess(Deficiency)of Revenues and ($3,263,725) ($4,640,688) „ ($608,981� 94LI
Other Financing Sources over
Expenditures and Other Financing Uses
Equity Beginning of Period $11,072,740 W $4,488,589- A $12,017,273 n_-. .�_ $0 $27_578.602
Prior Year Adjustments $0 $0 $0 $0 $0 E
Residual Equity Transfers $0 _.. $9
Other(Explain) $0 $0 $0 $0 $0 j
Equity,End of Period F 7,809,015 j$152,p99) 9,065,208
N)
4
Other Financing Sources(Uses)-Consolidated Page 2 3/22/2011
Redevelopment Agency Of The City Of Huntington Beach
=:z'' >;�:�. - �... .�� >\J1„���e. Pam;• y:��EG �-�1• S` _ � :..._.. � �
Detailed Summary of Footnotes For Fiscal Year 2010-11
Forms Column Additional Details Footnotes
ificliie�reanetif n, a i {at na t ec1)O
ii[ e% zir- ,nTfm A 400 jobs were created for
�„ The Strand project_:.C'.xwr.uF.W ..
"3 a x4,' A PROJECT NAME= City Council rescinded the
—
Fh. ,ez� 'Huntington Beach time limit to incur debt on
Redevelopment Project July 15,2002 by Ordinance
Area No, 1' No.3566.
Y o ' r'ISctiQ� isrict
,��-
fo1Ef?ait$ta '''-'ggricies C PROJECT AREA NAME= Total Paid to Taxing
'Southeast Coastal Agencies is based on the
Redevelopment Project' County of Orange FY of July
1 st through June 30th but
the Gross Tax Increment
generated is based on the
HB FY of Oct 1st through
Sept 30th.
Cjtounj=Ajvances> ndoa%is:.�i� A PROJECT_AREA NAME= $216,000 is part of the debt
'Huntington Beach owed to the City for
Redevelopment Project Advances made to RDA_As
Area No. 1' of FYE 9/30/10,the total
principal amount remaining
for the City Advances is
$85,550,000 which includes:
HB Proj Area 1=$216,000,
HB Proj Area Debt Svc=
$5,307,000,Low Income
Housing=$405,000.
Gi,Ey otin +AdvancQssa[dl cans >t; s '.=' B PROJECT AREA_NAME_ $5,307,000 is part of the
- R 'Huntington Beach debt owed to the City for
Redevelopment Project Advances made to RDA_As
Area No.1' of FYE 9130/10,the total
principal amount remaining
for the City Advances is
$85,550,000 which includes:
HB Proj Area 1=$216,000,
HB Proj Area Debt Svc=
$5,307,000,Low Income
Housing=$405,000.
ootnotes Page 1 3/22/2011
H -17 - Item 4. - 121
Redevelopment Agency Of The City Of Huntington Beach
Detailed Summary of Footnotes For Fiscal Year 2010-11
Forms Column Additional Details Footnotes
C PROJECT AREA_NAME_ $905,000 is principal
'Consolidated Low and payment for the Emerald
Moderate Income Housing Cove loan that was
Funds' established and reported in
FY 2009/10_This payment is
part of the to debt owed to
the City for advances
provided to the
Redevelopment Agency.
Footnotes Page 2 3/22/2011
Item 4. - 122 HB -1 4-
The Redevelopment Agency of the City of Huntington Beach
Activities 2009-2010
AGENCY OVERVIEW
The Redevelopment Agency of the City of Huntington Beach continued to implement the projects
that were described in the Implementation Plans and the Ten Year Housing Compliance Plan,
namely:
HUNTINGTON BEACH PROJECT(MERGED AREA)
• The Strand
• Pacific City
• Downtown Specific Plan(DTSP)I Downtown Parking master Plan(DTMP)
• Hyatt Huntington Beach Resort and Spa
• Waterfront Hilton-Resort Expansion
• Bella Terra I
• Bella Terra II
• Specific and Economic Revitalization Plan for Beach Boulevard and Edinger Corridor
• Economic Development Strategy
• Merged Project Area Redevelopment Plan Amendment
• Capital Improvements and Facilities
• Surf City Nights
• Huntington Beach Marketing and Visitors Bureau(HBMVB)
• Huntington Beach Automobile Dealers Association, Inc. (Auto Dealers)
SOUTHEAST COASTAL PROJECT
• Posiedon Seawater Desalination Facility
• Newland Street Widening
HOUSING
• Jamboree Housing IV
• Pacific Court Apartments
• 7911 Slater Ave
• First Time Homebuyers Downpayment Assistance Program (DPAP)
• Emerald Cove Senior Apartments
ADDITIONAL REDEVELOPMENT ACTIONS TAKEN DURING FISCAL YEAR 2009-2010
® State of California SERAF
Page 1 of 7
G:`.A.IminlRcp,3rts�Statc Controllcr HCB Annual',— �� �cti�itic�2009 20!0 Fifiakloc Item `t. - 1 23
PROJECTS & ACTIVITIES
Huntington Beach(Merged Project Area)
1. The Strand is a mixed-use project developed by CIM Group on an underutilized 3-acre site in
the downtown area that officially opened in May 2009. The California Redevelopment
Association has recently awarded the Redevelopment Agency of the City of Huntington Beach
the 2010 Award of Excellence for a mixed-use project. Development of The Strand was
assisted in 2009 with a Sixth Implementation Agreement. Through this Agreement the Agency
upgraded the hotel from a "limited-service hotel" to the boutique hotel, to adjust for recent
changes in the economy and attracting a larger base of visitors, creating additional jobs, and
ensuring long-lasting, high quality standards for the hotel component of the project. The hotel
upgrade was provided a one-time $2.4 million payment that modified the financial terms offered
by the Agency to enhance the sustainability of the project area as a whole. Also in 2009, the
City and Agency allowed a transfer of its interest in The Strand/CIM DDA to a collateralized
property portfolio loan containing six properties, aggregately valued at $145 million. This
action allowed CIM access to the funding it needed to effectively lease The Strand project site
The Strand offers approximately 110,000 square feet of retail, restaurant, and office space
within four distinct buildings, laced with open-air pedestrian walkways and public art. The
Shorebreak Hotel, located within The Strand, offers 157 luxury rooms and Zimzala, an
authentic coastal Mediterranean restaurant. The Strand also provides ample public parking
which is available for customers, employees, Shorebreak Hotel guests and the general public.
The Strand retail tenants include Croes, Forever 21, G by Guess, Skechers, CVS, Active Ride,
Rip Curl, Marilee's Swimwear, and Angl. Dining options include Johnny Rockets, RA Sushi,
Zimzala, Sertino's Coffee, and Lil Red's Cupcakeries. Innocean Worldwide, an international
marketing firm with over 125 employees and currently occupy all the office space. Most
importantly, The Strand development has generated more than 400 job positions in the retail,
hotel, office and restaurant industries.
2. Pacific City is on a 31 acre site at Pacific Coast Highway and First Street. A Community
Facilities District (CFD) is proposed to fund the majority of the offsite public improvements
such as street enhancements. The residential village, totaling 17.2 acres, will act as the
cornerstone of Pacific City. There will be 516 residential housing units built in four phases,
ranging in sizes from 969 square feet to 2,500 square feet. This residential community will
encompass a 191,000 square feet retail center featuring luxurious retail brands, prime office
space, dining and entertainment complete with 1,406 parking spaces for patrons. The Agency
has continued to work with the developer and the developer's capital partners to both maintain
and improve the existing site and to construct the project. New pedestrian pathways/sidewalks
medians and landscaping were installed surrounding the site. Pacific City is scheduled to open
in late 2015. A 250 room boutique hotel is expected to open in 2016.
3. The Downtown Specific Plan (DTSP) and Downtown Parking Master Plan (DPMP) were
approved by the City Council in January 2010 and are awaiting California Coastal Commission
review and approval. The plan will assist in the redevelopment of blighted, vacant and/or
underutilized parcels in the downtown area. The DTSP will assist in the creation of a unique
Page 2 of 7
Item 4. - 1 24,in,.Reports`,Statc Controller_HCD AnnuaP,.200 HB -176-Activities 2009_2010 Final.doc
and identifiable downtown area that capitalizes on the unique location and features of the City's
beachside downtown. The goal is to create an economically vibrant, pedestrian-oriented
destination for residents and visitors alike. The DTSP is an update is part of a City-wide effort
to ensure that planning regulations and guidelines provide direction with flexibility to
accommodate both current and future development opportunities in the downtown area.
4. The Hyatt Huntington Beach Resort and Spa, a 517-room resort, offers ocean-front spa and
conference facilities. The Hyatt opened for business on January 19, 2003. The Developer's
Advance Loan Balance is estimated at $6,251,240 as of December 2010. The project also pays
lease payments to the Agency on an annual basis.
5. The Waterfront Hilton has submitted plans as of December 2009 to construct an expansion of
the Waterfront Hilton on Parcel C, which is located between the Waterfront Hilton and Hyatt
Hotel sites. Like the Hyatt project,the Waterfront Hilton project also pays lease payments to the
Agency on an annual basis. The hotel paid its second Participation Payment to the Agency in
2008. A Third Implementation Agreement to the Disposition and Development Agreement
(DDA) was negotiated between the Redevelopment Agency and Mayer Financial, L.P. in
October 2008. The Third Implementation Agreement relates to the time frame for development
of the northerly adjacent "Parcel C", where the expansion of the Waterfront Hilton with
additional conference facilities is being proposed. Each extension of the Agreement by the
Hyatt triggers a payment of$250,000 from Mayer Financial to the City to compensate for an
estimated loss of Transient Occupancy Tax (TOT) that the City would have received with a
timely development of the newly proposed hotel rooms on Parcel C. In addition on October 18
2010,the Redevelopment Agency approved a Fourth Implementation Agreement.
6. Bella Terra I, formerly an vacant outdated 56.5-acre retail property known as Huntington
Center, was transformed into an entertainment/life style center. With the approval of the
Second Implementation Agreement on September 17, 2007, the Agency commenced payment
of its obligation of $15 million to the developer. The balance of these obligations is
$14,076,368 as of September 30, 2010. The approximate 1,532 space public parking garage,
funded by the Community Facilities District 2003-1 (Huntington Center), opened on October 1,
2005. In 2010, Whole Foods Market opened a new store at Bella Terra I.
7. Bella Terra II was initiated when DJM Capital Associates, LLC (DJM) purchased the former
Montgomery Wards 13.5 acre portion of the Bella Terra site, a parcel left vacant for over ten
years. DJM has amended the Bella Terra specific plan and the environmental impact report to
allow for construction of a mixed use project. The mixed-use development will include 467
residential units; approximately 13,500 square feet of residential amenities, including a
clubhouse, fitness center, leasing area, and lobby areas; approximately 700-space residential
parking garage; and 155,000 square feet of retail. An Affordable Housing Agreement between
the developer and the Agency was approved in 2010 to guarantee that Affordable Housing was
provided in the project, including 28 very-low income units., mandating fifteen percent of the
dwelling units be designated as affordable. DJM will break ground on the project in December
2010.
8. The Beach and Edinger Corridors Specific Plan was approved by the City Council on March 1,
2010 and adopted by the City on April 16, 2010. The Beach and Edinger Corridors Specific
Page 3 of 7
(r:`.A<lminlRcportsvSt�ttc Controller- I CD Annua11200 HB -177-
Activities 20092010 Final.doc Item 4.
- 125
Plan is established to orchestrate private and public investment activities along the Beach
Boulevard and Edinger Avenue corridors, and to support and promote investment that will
enhance the property value, create jobs and housing opportunities of these, the City's primary
commercial corridors. This Specific Plan presents the community's vision for the evolution and
continued growth of the two corridors, and it establishes the primary means of regulating land
use and development within the Specific Plan Area . Finally, the Plan contains a program of
planned actions and investments that the community intends to implement to stimulate and
complement private investment along the corridors. Since adopting the Specific Plan, the City
has witnessed much development interest along the Beach and Edinger Corridors.
9. Economic Development Strategy- Linda S. Congleton & Associates has been retained to
prepare an Economic Development Strategic Plan for the City of Huntington Beach. The
primary goal is to provide practical strategies that can be implemented by the City's
Management Team, while also updating the City's Economic Development Element of the
General Plan, which has not been updated since 1996. The Strategic Plan will be completed by
late 2010.
10. The Agency contracted with Rosenow Spevacek Group (RSG) in November 2009 to perform all
duties in conjunction with preparing an amendment to the existing redevelopment plan for the
Merged Project Area. The amendment was to include commercial and selected industrial sites
only. An initial blight analysis had been completed in early 2009 by GRC, Inc. and this
constituted the second phase. During the fiscal year 2009-2010, RSG prepared their analysis of
all commercial sites in the City and gathered all data necessary from the City,Agency and other
sources to verify the existence of both physical and economic blight in the proposed added area.
A resolution was prepared to designate the study area, which was approved by the Council and
Redevelopment Agency in the following fiscal year. However, the project is on hold at this
time pending the outcome of any legislation or vote pertaining to the use of redevelopment
agency funds and expansion of project areas.
11. Capital Improvements/Facilities - The following projects were listed in the 09/10 Approved CIP
budget and have been completed: Civic Center seismic retrofit (matched with FEMA funds)
($7,000,000), downtown bollard/pedestrian safety project ($170,000), downtown energy
efficient street lighting replacement ($1,000,000), beach blufftop restrooms, replacing
temporary port-apotties ($2,400,000), and permanent buildings on the pier (replacing cargo
bins) ($490,000). Additionally, improvements were made to four city fire stations which
included Fire Station 5-Lake, Fire Station 2-Murdy, Fire Station 1-Gothard, and Fire Station 4-
Magnolia. Most of the fire station improvements included structural stabilizations, renovations
for ADA and gender accommodations, and various other improvements ($278,000).
12. Surf City Nights is a weekly street fair/farmer's market takes place from 5-9 p.m. on Tuesday
nights on the first three blocks of downtown Main Street between Pacific Coast Highway and
Orange Avenue. Surf City Nights began as a three month trial street closure of Main Street and
developed into a weekly, year-round event, now in its fourth year of operation. In 2010, Surf
City Nights became a certified farmer's market. The event is maintained by the Huntington
Beach Downtown Business Improvement District. Due to the success of the event, residents
and visitors now regularly take an evening stroll and dine at local restaurants on Tuesday
Page 4 of 7
Item 4. — 126.niniRcpoi-ts,Statc Conu-olicr_HC°D AnnuaC�20CYHB 1 Activities 2009.2010 Final.doc
nights. The street fair/farmer's market includes live entertainment, children's activities, retail
sales, food, arts and crafts. In 2009, the Agency approved the design and procurement of
portable bollards for the closure of the downtown area to provide more efficient, economical,
and aesthetic pedestrian safety and emergency access to the downtown area during Surf City
Nights. In 2010, a contract for construction of the bollards was awarded and completed.
13. Huntington Beach Marketing and Visitors Bureau (HBMVB) promotes the City as a destination
to attract and retain jobs. The HBMVB requested that the Agency provide a loan in the amount
of$50,000 to help fund a strategic marketing plan aimed at promoting the City of Huntington
Beach, including more up to date printed, electronic, and social marketing tools to draw
additional vacationers and meeting and convention groups to the City. The interest bearing loan
will be repaid to the City over the next five years. The HBMVB started repayment of the loan in
2010.
14. Huntington Beach Automobile Dealers Association, Inc. (Auto Dealers) — In 2009, the
economically pressed Auto Dealers (comprised of ten dealerships) requested loan assistance
from the Agency to pay for continued operation of an electronic reader board strategically
located at the entrance to the Beach and Edinger Corridor. When approving the five-year loan
in the amount of$226,893, the Agency also provided a grant to the Auto Dealers in the amount
of $30,304 to provide needed capital repairs to the reader board. The reader board has
functioned as a vital tool in directing customers to the dealerships located along Beach
Boulevard and provides a venue for advertising community services and special events. The
Auto Dealers began repayment of the five year loan in April 2010 and repairs to the reader
board were completed in May 2010.
Southeast Coastal Project Area
15. Seawater Desalination Facility -- The Redevelopment Agency originally approved an Owner
Participation Agreement (OPA) in February 27, 2006, with Poseidon Resources Corporation to
provide for the development of a seawater desalination plant on property leased from the AES
Corporation. On September 20, 2010 the Agency entered into an Amended and Restated Owner
Participation Agreement that among other things sets the minimum assessed value at
$200,000,000. The City and Poseidon Resources also signed an Exchange Agreement/Lease
Agreement for separate properties that AES and the City own adjacent to the site proposed for the
seawater desalination project. The proposed changes to the project are currently under review by
the Coastal Commission.
16.The Newland Street Widening Project -- The Project include the widening of Newland Street
from Pacific Coast Highway to Hamilton Avenue, widening of the reinforced concrete bridge at
the Huntington Channel, installation of storm drain improvements in Newland Street, and
raising the profile of Newland Street to improve traffic visibility. The Project was included in
the Capital Improvement Program (CIP) budget and was completed in November 2009. The
completion of the project improved traffic safety and circulation adjacent within the project
area.
Housing Activities
Page 5 of 7
U:"'Actmin\P.cp0rts`,State Conuo(lcr HCD Aimua1120C �' Activities 2009 2010 Final_doc Item 4.
—
127
17. Jamboree Housing IV-- The Agency and City of Huntington Beach assisted Jamboree Housing
Corporation, an Orange County based non-profit housing developer and designated CHDO
(Community Housing Development Organization), to acquire and rehabilitate four apartment
buildings in the Oakview sub-area (Jamboree Housing I, II, III & IV). Completion of the
projects resulted in the preservation and upgrading of 19 affordable rental units which will
continue to be made available to low and very-low income families for 60 years. The funding
for these projects has been HUD HOME Partnership funds and Redevelopment Housing Set-
Aside funds; the Housing Set-Aside funds also serve as required HOME "match funds". In an
effort to use available housing funds efficiently, in 2009, the City substituted a portion of
Housing Set Aside funds with newly awarded HOME funds on the Jamboree IV project. The
project was completed in the spring of 2010. Jamboree will provide on-site management and
tenant services for the tenants they serve.
18. Pacific Court Apartments — In 2008 the Agency expended $7 million in Housing Set-Aside
funds and $500,000 in HOME funds to assist developers, Orange Housing Development
Corporation and C and C Development, to acquire and rehabilitate the 48 apartment units
located at 2200 Delaware Avenue. The project, now known as Pacific Court, provides
affordable housing for 48 very-low and low income households and was completed in April
2010. The interior courtyard and greenbelt areas within the complex will provide an area for
barbeques or other family activities, and a playground where children can play together. Pacific
Court is conveniently located directly across from the Boys and Girls Club which offers youth
services and programs to children who live in Huntington Beach. This complex had formerly
been deemed uninhabitable by Code Enforcement, City Attorney's Office,and the courts.
19. 7911 Slater- As of April 2010, the City has partnered with Colette's Children Home, using
$390,568 in NSP funds and $284,432 in HOME funds, for the purposes of acquiring a vacant
lot located at 7911 Slater Avenue in the Oakview redevelopment sub-area. Colette's will
construct a six-unit affordable housing development on the site. This lot is adjacent to 17432-
17442 Keelson Lane which the City assisted Colette's with the funding of the acquisition and
rehabilitation of a ten-unit affordable housing complex. Managing these two sites will enable
Colette's to realize management and cost efficiencies
20. City of Huntington Beach First-Time Homebuyers Down Payment Assistance Program
(DPAP)- In May of 2009, the Agency approved the appropriation of$1,050,000 Housing Set-
Aside funds to set up, utilize, and maintain a DPAP revolving loan fund to provide down
payment assistance loans. In 2010, an additional $500,000 was appropriated to assist applicants
to be eligible for up to $100,000 down payment assistance to moderate-income households
purchasing their first affordable home in the City. Under the DPAP guidelines, families
working and living in the City will be shown priority as to loan consideration. The Agency is
working with Affordable Clearinghouse to administer the DPAP Program. In fiscal year 2009-
2410, a total of$689,010 in down payment assistance funds have been approved allowing nine
(9) moderate-income families to purchase an affordable home. Eight (8) more buyers are
expected to be approved during 2011.
21. Emerald Cove — Emerald Cove is located at 18191 Parktree Circle and consists of 164 senior
apartment units (studios and one bedrooms). Bids from affordable housing non-profits were
Page 6 of 7
Item 4. — 1 28`i"1`0`0
rs`Statr C'na�trolla_HC D Ai�nual':200 HB 1 Activitics 2009_2010 Final.doc
received and reviewed to acquire and completely rehabilitate the units in conformity with local,
state and federal laws, rules and regulations. Subsequently, rental of the units (with the
exception of two managers' units) will be to very low income and low income senior citizen
households at affordable rents for a period of not less than 60 years. Jamboree Housing was
awarded the project and Affordable Housing Agreement and the Regulatory Agreement were
approved by City Council in September 21, 2009. Rehabilitation of the units began July 2010
with a completion scheduled for December 2010. The Community Room will be completed in
spring of 2011.
Additional Redevelopment Actions Taken During Fiscal Year 2009/2010
22. State of California SERAF- The FY 2009/10 State budget included plans to take revenue from
redevelopment agencies in FY 2009/10 and FY 2011. A total of$4.4 million was budgeted in
the Merged Project Area Debt Service Fund $1,760,000, and Housing Set Aside Fund
$2,640,000 to fund this revenue take.
Page 7 of 7
G:`./ldmi»',.Rcp ii-tstState Controllcr_HCD Annual\20('^ ,, " ' Activities 2w9_2010)-inawoc
W -�181 - 129
'_+
(D
3 Additional Reports for State Controller
City of Huntington Beach RDA
' Fiscal Year Ended September 30,2010
1) Blight progress report (specifies actions and expenditures made in the previous fiscal year to alleviate blight), Health & Safe, Code
§33080.1(d).
While construction of the project was completed in Fiscal Year 08-09, "The Strand", a mixed-use, downtown development comprised of
110,000 SF of office,retail,restaurant, and hotel space, and a 410-space parking structure, continued to add new jobs to this once-blighted
area. Since its soft opening in 2008,this project has created over 400 new employee positions and is nearing 100%occupancy. Through
attractive, spacious pedestrian corridors, The Strand provides visitors with a comfortable, safe route between The Strand and Main Street,
and compliments the bustling downtown area. The Strand underground parking structure also provides convenient underground parking for
residents, shoppers,and tourists visiting the downtown.
As of September 2010, demolition plans have been submitted and approved for the removal of the dilapidated Montgomery Ward's building
and auto center at the old Huntington Center. This will be the home of Bella Terra II which will include 467 residential units; approximately
13,500 square feet of residential amenities, including a clubhouse, fitness center, leasing area, and lobby areas; approximately 700-space
residential parking garage; and 155,000 square feet of retail. The retail area will include a Costco.
Construction of the commercial components making up the Makar Properties project,"Pacific City", continues to experience unexpected
delays, due to the state of the economy. However, during 2010 public improvements were made for safety and aesthetics,which included.
pedestrian pathways/sidewalks around the entire site and landscaping, in addition to this new medians with landscaping have been
completed which allows for better pedestrian and traffic flow.
00 The Agency is also in the process of updating the existing Downtown Specific Plan and Downtown Parking Master Plan which covers the
Main-Pier Subarea. This update of both plans is being undertaken to address ongoing vacant and underutilization of properties, deteriorated
buildings, incompatible land uses producing economic blight, spur the removal of obsolete structures producing low lease rates and
economic returns for property owners,while providing for a variety of housing opportunities. These plans were approved during 2010 and
currently are being reviewed by the California Coastal Commission.
In an effort to continue to enhance and maximize the potential of the major thoroughfares known as Beach Boulevard and Edinger Avenue,
a new Specific Plan has been completed and approved as of 2010. The Beach and Edinger Corridors Specific Plan will enhance private and
public investment activities along the Beach Boulevard and Edinger Avenue Corridors,thus revitalizing many blighted properties along
these main thoroughfares.The Specific Plan calls for Affordable Housing to be included on site of any new development within the area and
allows for mixed-use and residential only projects. Since the approval of the Specific Plan,the City has witnessed much renewed
development interest for blighted areas along the Beach and Edinger Corridors.
Other efforts by the Agency to remove blight have been the construction of three pier concession-buildings which replaced mobile trailer
buildings. All three are completed and have been occupied by retailers. In addition,temporary bathrooms along the north side of the pier
Page 1
have been replaced with new permanent bathroom structures. Finally, new energy efficient lighting and newly re-built tree planters have
been added to Main Street to allow for a safer experience for pedestrians.
In the Southeast Redevelopment Project Area the proposed development of a seawater desalination plant, "The Poseidon Project",
amendment was approved by City Council in 2010. The interim action plan for the clean-up of the ASCON landfill has commenced. This
interim plan will assist with the final plan being developed and approved by the Department of Toxic Substances for final clean up of this
hazardous site.
2) Loan report(identifies loans (receivable) which equal or exceed$50,000 and that were found by the agency during the previous fiscal
year to have either defaulted or not complied with the terms of the agreements approved by the agency), Health& Safely Code §33080,l(e).
a) None
3) Property report (describes properties owned by the agency and those acquired in the previous fiscal year), Health and Safe Code
U3080.1(f).
a) The City of Huntington]Beach acquired no property in the fiscal year ending September 30,2010:
b) Agency Owned Land as of September 30,2010:
Assessor's
Description Parcel Number Acres Cost Acquired Funding Source Category
Bowen Court Senior Housing
Project-Sixty-year lease with
Merit Housing, commencing
- Possessory 6/11/2001. $1.00/year lease AP 023-042-18,-
Interest a ment. 19,-20,-21,-22 0.751 $885,000.00 9/30/1994 HousingSet-Aside Asset
00
Surf Museum SEC 5th/Olive AP 024-147-01 0.116 $286,300.00 7/1/1991 Tax Increment Asset
Block 104 (10' Remnant
Abdelmuti parcel exchanged
as 10' portion of AP 024-153-
12 Gosney) Acquisition cost
was proportionately reduced AP 024-153-21 0.017 $259,000.00 10/1/1989 Tax Increment Asset
Vacant Land, Formerly AP
165-364-05 [7921 Cypress
Walker and part of-07 AP 165-364-24 0.262 $180,295.00 10/1/1989 Tax Increment Resale
Possessory Waterfront Leasehold for 99 AP 024-251-01 &
Interest years. 024-252-01, -02 22.079 $14,023,000.00 7/1/1989 Tax Increment Asset
Vacant Land (NEC
CAD Parkside/Aldrich AP 142-081-06 0.413 $664,582.00 9/1/1988 Tax Increment Resale
3 Vacant Land (NEC AP 142-081-09,-
41. Parkside/Aldrich) 10,-11;-12 1.023 $753,180.00 9/1/1988 Tax Increment Resale
Gothard/ Hoover(Housing) AP 142-073-03 2.718 $1,084,074.00 9/1/1987 Tax Increment Resale
Page 2
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3 Gothard/ Hoover(Westminster
-P Parcel) AP 142-311-34 1.166 $465,059.00 9/1/1987 Tax Increment Asset
18451 Patterson Lane 157-341-22 0.17 $522,500.00 11/5/2007 Housing Set-Aside Resale
W
N 7872 Edinger Avenue (Big 0 AP142-081-28 0.52 $3,500,000.00 01/28/2009 Tax Increment Resale
6.11 $6,704,631 Total for Land Held for Resale
00
3
Page 3
CALIFORNIA DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
REDEVELOPMENT AGENCY ANNUAL HOUSING ACTIVITY REPORT
FY ENDING: SqDbqdMr / 30 / 2010
Agency Name and Address: County of Jurisdiction:
of HaatiMtM Beach
20 Main , 5th Fleor Did the Agency pay SERAF from LMIHF?
1 I tir eta I , CA 92648 In Yes ElNo
Health&Safety Code Section 33080.1 requires agencies(RDAs)to annually report on their Low&Moderate Income Housing Fund and
housing activities for the Department of Housing and Community Development(HCD)to report on RDAs'activities in accordance with
Section 33080.6.
Please answer each question below. Your answers determine how to complete the HCD report.
1. Check one of the items below to identify the Agency's status at the end of the reporting period:
❑ New(Agency formation occurred during reporting year. No financial transactions were completed).
® Active(Financial and/or housing transactions occurred during the reporting year)
❑ Inactive(No financial and/or housing transactions occurred during the reporting year)• ONLY COMPLETE ITEM 7
❑ Dismantled(Agency adopted an ordinance and dissolved itself before start of reporting year). ONLY COMPLETE ITEM 7
2. During reporting year,how many adopted project areas existed? 2 Of these,how many were mewed during year? 0
If the agency has one or more adopted project areas,complete SCHEDULE HCD-A for each project area.
If the agency has no adopted project areas,DO NOT complete SCHEDULE HCD-A(refer to next question).
3. Within an area outside of any adopted project area(s): (a)did the agency destroy or remove any dwelling units or displace any
households over the reporting period,(b)does the agency intend to displace any households over the next reporting period,(c)did
the agency permit the sale of any owner-occupied unit prior to the expiration of land use controls over the reporting period,and/or
(d)did the agency execute a contract or agreement for the construction of any affordable units over the next two years?
❑ Yes(any question). Complete SCHEDULE HCD-B.
® No(all questions). DO NOT complete SCHEDULE HCD-B(refer to next question).
4. Did the agency's Low&Moderate Income Housing Fund have any assets during the reporting period?
W Yes. Complete SCHEDULE HCD-C.
❑ No. DO NOT complete SCHEDULE HCD-C.
5. During the reporting period,were housing units completed within a project area and/or assisted by the agency outside a project area?
® Yes_ Complete all applicable HCD SCHEDULES DI-D7 for each housin?project completed and HCD SCHEDULE E.
❑ No. DO NOT complete HCD SCHEDULES DI-D7 or HCD SCHEDULE E.
6. Specify whether method A and/or B was used to report financial and housing activity information to HCD:
❑ A. Forms. All required HCD SCHEDULES A,B,C,D1-D7,and E are attached.
[� B. On-line(http://invw.hcd ca_gov/rda1)"Lock Report"date: Mares29, 2011 HCD SCHEDULES not required.
(lock date is shown under 'Admin"Area and "Report Change History')
7. To the best of my knowledge: (a)the representations made abov an (b)agency information reported are correct.
Date Signature of Ai6o_r_izN Agency Representative
Starr 3rale itz, Dqazty EKeaatdw Director
Title
(714) 536=5582
Telephone Number
• IFNOTREQUIRED TO REPORT,SUBMIT ONLYA PAPER COPY OFTHISPAGE.
• IF REQUIRED TO REPORT,AND REPORTING BY USING PAPER FORMS(IN PLACE OF REPORTING ON-LINE),SUBMIT
THIS PAGE AND ALL APPLICABLE HCD FORMS(SCHEDULESA-E)WITH COPY OFAGENCY'SA UDIT.
• IFREPORTINGON-LINE,PRINTANDSUBMIT"CONFIRMATIONLETTER"UPONLOCfINGREPORT
• MAIL A COPY OF(a)CONFIRMATIONLETTER(IFHCD REPORT WAS ELECTRONICALLY FILED)OR(h)COMPLETED
FORMS AND(e)A UDIT REPORT TO BOTH HCDAND THE SCO.
Department of Housing& Community Development The State Controller
Division of Housing Policy Division ofAecounting and Reporting
Redevelopment Section Local Government Reporting Section
1800 3rd Street,Suite 430 3301 C Street.Suite 500
Sacramento,CA 95814 Sacramento,CA 95816
Redevelopment Agency Annual Report-Fiscal Year2009-2010
(Revised: 10-13-10) H -1 _ Item 4. - 133
RDA Reporting System- Confirmation Page 1 of 1
Confirmation of Redevelopment Agency On-Line Filing of Annual HCD Report
FY: Fiscal Year: 2010/2011
FM: Redevelopment Agency: HUNTINGTON BEACH
Agency Administrator: Denise Bazant
Date: 03/29/2011
Time: 09:36 am
TO: State Controller
Division of Accounting and Reporting
Local Government Reporting Section
P.O.Box. 942850
Sacramento, CA 94250
This notice is automatically generated by HCD's On-Line Reporting System The purpose is to file with
the State Controller's Office verification the redevelopment agency has complied with Health and Safety
Code(H&SC) Section 33080(a) and submitted the annual HCD report required by H&SC Section 33080.1.
HCD Notification: For the Fiscal Year 2009-2010 Supplemental Education Revenue Augmentation Fund
(SERAF) payment, the agency:
❑Did use revenue/funds that reduced the amount available to the Housing Fund
[M Did not use revenue/funds that reduced the amount available to the Housing Fund
To the best of my knowledge the representations made above and the agency information reported are
correct.
3/29/2011
Date Signature of Authorized Agency Repres ative
Stanley 9rale tz
714-536-5582 D2qtV Exeaitiw gixegbar
Telephone Number Title
Item 4. - 134 HB -1 6--
--) 1...A - ---/DY)A /,1., -T .,..LT Q/1)A11
California Redevelopment Agenc, !seal Year 2010/2011
Project Area Contributions to Low and Moderate Income Housing Funds
Sch A Project Area Summary Report
HUNTINGTON BEACH
Amount Tax Incr. Percent Total
Project Area 100%of Tax 20%Set Aside Tax Increment Amount Suspended Deposited to of Tax Repayment Other Deposited to
Increment Requirement Allocated Exempted and/or Deferred Hsng Fund Incr Dep Deferrals Income Housing
HUNTINGTON BCH REDEV $18,141,601 $3,628,320 $3,628,320 $0 $0 $3,628,320 20.00% $0 $0 $3,628,320
PRJCT(MRGED)
SO-EAST COASTAL $44,694 $8,939 $8,939 $0 $0 $8,939 20.00% $0 $0 $8,939
REDEVELOP PRJCT
Agency Totals: $18,186,295 $3,637,259 $3,637,259 $0 $0 $3,637,259 20% $0 $0 $3,637,259
Note: Print this report in Landscape Orientation(Use the Print Icon just above,then Properties then Landscape)
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California Redevelopment Agencies-Fiscal Year 2010/2011
Project Area Contributions to Low and Moderate Income Housing Fund
Sch A Project Area Financial Information
Agency HUNTINGTON BEACH
Address 2000 Main St.5th Floor
Huntington Beach CA 92648-2702
Project Area HUNTINGTON BCH REDEV PRJCT(MRGED)
Type: Inside Project Area Status: Active
Plan Adoption: 1996 Plan Expiration Year: 2026
Amount
Gross Tax Calculated Amount Amount Suspended Total % Cumulative
Increment Deposit Allocated Exempted and/or Deferred Deposited Def.
$18,141,601 $3,628,320 $3,628,320 $0 $0 $3,628,320 20.00% $0
Repayment $0
Category
Total Additional Revenue $0
Total Housing Fund Deposits for Project Area $3,628,320
Project Area SO-EAST COASTAL REDEVELOP PRJCT
Type: Inside Project Area Status: Active
Plan Adoption: 2002 Plan Expiration Year: 2032
Amount
Gross Tax Calculated Amount Amount Suspended Total % Cumulative
Increment Deposit Allocated Exempted and/or Deferred Deposited Def.
$44,694 $8,939 $8,939 $0 $0 $8,939 20.00% $0
Repayment $0
Category
Total Additional Revenue $0
Total Housing Fund Deposits for Project Area $8,939
Agency Totals For All Project Areas:
Amount
Gross Tax Calculated Amount Amount Suspended Total % Cumulative
Increment Deposit Allocated Exempted and/or Deferred Def.
Deposited
$18,186,295 $3,637,259 $3,637,259 $0 $0 $3,637,259 20% $0
Total Additional Revenue from Project Areas: $0
Total Deferral Repayments: $0
Page 1 of 2 03/24/11
Item 4. - 136 H -1 -
California Redevelopment Agencies-Fiscal Year 2010/2011
Project Area Contributions to Low and Moderate Income Housing Fund
Sch A Project Area Financial Information
Total Deposit to Housing Fund from Project Areas: $3,637,259
Page 2 of 2 03/24/11
H -1 - Item 4. - 137
California Redevelopment Agencies-Fiscal Year 2010/2011
Sch A/B Project Area Program Information
HUNTINGTON BEACH
Project Area: HUNTINGTON BCH REDEV PRJCT (MRGED)
FUTURE UNIT CONSTRUCTION
Estimated
Execution Completion
Contract Name Date Date Very Low Low Moderate Total
Amstar Red Oak 01/01/13 01/01/15 0 0 0 0
Bella Terra II 01/01/13 01/01/15 28 0 43 71
Boardwalk 01/01/13 01/01/15 10 0 47 57
Page 1 of 1 03/24/11
Item 4. - 138 H -1 0-
California Redevelopn, ,agencies-Fiscal Year 2010/2011
Status of Low and Moderate Income Housing Funds
Sch C Agency Financial Summary
HUNTINGTON BEACH
Adjusted Project Agency Net Other Total *Unen- Unen- Unen-
Beginning Area Other Total Resources Housing Housing Encum- cumbered cumbered cumbered
Balance Receipts Revenue Expenses Available Fund Assets Fund Assets brances Balance Designated Not Dsgntd
$10,654,745 $3,637,259 $2,679,582 $6,925,833 $10,045,753 $1,362,614 $11,408,367 $0 $10,045,753 $0 $10,045,753
Expenses Debt Service Planning and Property Total
Administration Acquisition
Costs
2010/2011 $405,000 $850,979 $5,669,854 $6,925,833
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(.0
E
*The Unencumbered Balance is equal to Net Resources Available minus Encumbrances
Note; Print this report in Landscape Orientation (Use the Print Icon just above,then Properties then Landscape)
CD Page 1 of 1 03/24/11
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CSC
California Redevelopment Agencies- Fiscal Year 2010/2011
Status of Low and Moderate Income Housing Funds
Sch C Agency Financial and Program Detail
HUNTINGTON BEACH
Beginning Balance $10,654,745
Adjustment to Beginning Balance $0
Adjusted Beginning Balance $10,654,745
Total Tax Increment From PA(s) $3,637,259 Total Receipts from PA(s) $3,637,259
Other Revenues not reported on Schedule A $2,679,582
Sum of Beginning Balance and Revenues $16,971,586
Expenditure
Item Subitem Amount Remark
Debt Service
Debt Principal Payments City/County Advances&Loans $405,000
Subtotal of Debt Service $405,000
Planning and Administration Costs
Administration Costs $706,640
Professional Services $144,339
Subtotal of Planning and Administration Costs $850,979
Property Acquisition
Acquisition Expense $4,166,063
Other $1,503,791 $559,558-
participated in NSP in
City of Buena Park;
$944,233 loans to
nonprofit developers
for purchase
/rehab/relocation fees
of afford rent hsg
(Colette)
Subtotal of Property Acquisition $5,669,854
Total Expenditures $6,925,833
Net Resources Available $10,045,753
Indebtedness For Setasides Deferred $0
Page 1 of 3 03/24/11
Item 4. - 140 H -1 2--
California Redevelopment Agencies- Fiscal Year 2010/2011
Status of Low and Moderate Income Housing Funds
Sch C Agency Financial and Program Detail
HUNTINGTON BEACH
Other Housing Fund Assets
Category Amount Remark
ERAF Total Receivable $0
Loan Receivable for Housing Activities $1,362,614
Total Other Housing Fund Assets $1,362,614
Total Fund Equity $11,408,367
2006/2007 $2779435
2007/2008 $3061826 sum of 4 Previous Years' Prior Year Ending Excess Surplus for
2008/2009 $3405601 Tax Increment for 2010/2011 Unencumbered Balance 2010/2011
2009/2010 $3677087 $12923949 $10,654,745 $0
Sum of Current and 3 Previous Years'Tax Increments $13,781,773
Adjusted Balance $10,045,753
Excess Surplus for next year $0
Net Resources Available $10,045,753
Unencumbered Designated $0
Unencumbered Undesignated $10,045,753
Total Encumbrances $0
Unencumbered Balance $10,045,753
Unencumbered Balance Adjusted for Debt Proceeds $0
Unencumbered Balance Adjusted for Land Sales $0
Excess Surplus Expenditure Plan Yes
Excess Surplus Plan Adoption Date
Site Improvement Activities Benefiting Households
Income Level Low V Moderate Total
ery Low
Land Held for Future Development
Site Name Num Of Zoning Purchase Estimated
Acres Date Start Date Remark
18451 Patterson .17 11/05/2007 04/01/2011
Page 2 of 3 03/24/11
H -1 - Item 4. - 141
California Redevelopment Agencies- Fiscal Year 2010/2011
Status of Low and Moderate Income Housing Funds
Sch C Agency Financial and Program Detail
HUNTINGTON BEACH
Use of the Housing Fund to Assist Mortgagors Requirements Completed
Income Adjustment Factors Hope Is
Home Is
Non Housing Redevelopment
Funds Usage
Resource Needs
LMIHF Deposits/Withdrawls
Document Document Custodian Custodian Copy
Name Date Name Phone Source
ED 09-33 06-JUL-09 City of Huntington (714)536-5404 City of Huntington
Beach Beach City Clerk
Achievements
Description
Page 3 of 3 03/24/11
Item 4. - 142 H - 4--
California Redevelopment Agencies-Fiscal Year 2010/2011
Sch D General Project Information
HUNTINGTON BEACH
Project Area Name: HUNTINGTON BCH REDEV PRJCT(MRGED)
Project Name: Emerald Cove Senior Housing
Address: 18191 Parktree Circle Huntington Beach 92646
Owner Name: Jamboree Housing
PECIALNEEDSUNITS
- - - - - - - --- - - - - --- - - - - - - - - - --- - - - - - - - - - - - - - - - --
Category Sub Category Count
Special Need Unit Special Needs 164
Special Need Unit Elderly 164
NIT INVENTORY -- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Very Low Low Moderate Above Mod Became Total
Ineligible
Replacement
Bedroom
Substantial Rehabilitation Post 1993
gency Rental 1 Bedroom 164 0 0 0 0 164
Bedroom Total 164 0 0 0 0 164
Replacement
Unit
Substantial Rehabilitation Post 1993
%gency Rental Elderly 164 0 0 0 0 164
Unit Total 164 0 0 0 0 164
PROJECT FUNDING SOURCE
Funding Source Amount
Redevelopment Funds $8,000,000
Owner Equity $4,052,343
TCAC/Federal Award $3,234,000
Project Name: Various Non-Restricted Owner Development
Address: Various Addresses, Huntington Beach
Owner Name: Various Owners
NONASSISTEDPROJECTUNITS
- - - - - - - - - - - - - - - - - - - -- - - - - - - - - - - --- - -
Category vlow low mod amod Building Permit Number Building Permit Date
New Constructions 0 0 0 1 B2006-008242 07-APR-10
Page 1 of 3 03/24/11
H -1 5- Item 4. - 143
California Redevelopment Agencies-Fiscal Year 2010/2011
Sch D General Project Information
HUNTINGTON BEACH
Project Area Name: OUTSIDE PROJECT AREA
Project Name: 2200-2222 Delaware Street, Pacific Court Apts
Address: 2200-2222 Delaware Street Huntington Beach 92648
Owner Name: Pacific Court Apartments,LC
UNIT INVENTORY - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Very Low Low Moderate Above Mod Became Total
Ineligible
Replacement
Bedroom
Substantial Rehabilitation Post 1993
%gency Rental 2 Bedroom 24 24 0 0 0 48
Bedroom Total 24 24 0 0 0 48
Replacement
Unit
Substantial Rehabilitation Post 1993
Agency Rental Non-Elderly 24 24 0 0 0 48
Unit Total 24 24 0 0 0 48
Project Name: Habitat-Patterson
Address: 18451 Patterson Huntington Beach 92646
Owner Name: Habitat for Humanity
PROJECT FUNDING SOURCE - - - - - - - - - - - - - -- - - - - - - - - - - - - - - - - - - - - - -
Funding Source Amount
Federal Funds $250,000
Project Name: Pacific Shores
Address: Tract 16733 Huntington Beach 92648
Owner Name: RP/PLC Blue Canvase,L.L.C.
UNITINVENTORY - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Very Low Low Moderate Above Mod Became Total
Ineligible
Inclusionary
Unit
New Construction
Non-Agency Owner Non-Elderly 3 0 18 0 0 21
Unit Total 3 0 18 0 0 21
Page 2 of 3 03/24/11
Item 4. - 144 H -1 6-
California Redevelopment Agencies-Fiscal Year 2010/2011
Sch D General Project Information
HUNTINGTON BEACH
Project Area Name: OUTSIDE PROJECT AREA
Project Name: Pacific Sun Apartments
Address: 7911 Slater Avenue Huntington Beach 92647
Owner Name: Pacific Sun LLC
PECIALNEEDSUNITS
- - - - - --- - - - - - - - - - - -- - - - - - - - - - - - - - - - - - - - - - - - - -
Category Sub Category Count
Special Need Unit Special Needs 3
Special Need Unit Transitional Housing 3
ROJECTFUNDINGSOURCE
- - --- - - - - - - - - - - - - - - - - - --- - - - - - - - - - -
Funding Source Amount
Federal Funds $779,205
State Funds $401,483
TCAC/Federal Award $1,475,852
Page 3 of 3 03/24/11
H -17- Item 4. - 145
SCHEDULE HCD E
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only:Actual Obligation is based on Implementation Plan)
Report Year: 2010/2011
Agency: HUNTINGTON BEACH
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation units
from forms HCD-D7 which are developed in a project area by any entity (agency or non-agency).
PART
[H&SC Section 33413(b)(1)]
AGENCY DEVELOPED
1. New Units 0
2. Substantially Rehabilitated Units 164
3. Subtotal-Baseline of Units (add line 1 &2) 164
4. Subtotal of Inclusionary Obligation Accrued this Year for Units (line 3 x 30%) 49
5. Subtotal of Inclusionary Obligation Accrued this year for Very-Low Income Units(line 4 x 50%)
25
PART 11
[H&SC Section 33413(b)(2)]
NON-AGENCY DEVELOPED UNITS
6. New Units 1
7. Substantially Rehabilitated Units 0
8. Subtotal -Baseline of Units(add lines 6 &7) 1
9. Subtotal of Inclusionary Obligation Accrued this year for Units(line 8 x 15%)
0
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Units(line 9 x 40%)
0
PART III
TOTALS
11.Total Increase in Inclusionary Obligations During This Fiscal Year(add line 4&9) 49
12. Total Increase in Very Low Income Units Inclusionary Obligations During This Fiscal Year(add line 5& 10) 25
California Redevelopment Agencies-Fiscal Year 2010/2011 03/24/2011
Schedule E(I U01)
'Totals may be impacted by rounding
Page 1 of 1
Item 4. - 146 H -18-
SCHEDULE HCD E1
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only:Actual Obligation is based on Implementation Plan)
Report Year: 2010/2011
Agency: HUNTINGTON BEACH
Project Area: HUNTINGTON BCH REDEV PRJCT(MRGED)
Project: 17362 JACQUELYN JAMBOREE III
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation units
from forms HCD-D7 which are developed in a project area by any entity (agency or non-agency).
PART
[H&SC Section 33413(b)(1)]
AGENCY DEVELOPED
1. New Units i 0
2. Substantially Rehabilitated Units 0
3. Subtotal-Baseline of Units(add line 1 &2) 0
4. Subtotal of Inclusiona Obligation Accrued this Year for Units line 3 x 30% 0
5. Subtotal of Inclusionary Obligation Accrued this year for Very-Low Income Units(line 4 x 50%) 0
PART II
[H&SC Section 33413(b)(2)]
NON-AGENCY DEVELOPED UNITS
New Units 0
ubstantially Rehabilitated Units 0
8. Subtotal -Baseline of Units (add lines 6 &7) 0
9. Subtotal of Inclusionary Obligation Accrued this year for Units(line 8 x 15%) 0
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low income Units (line 9 x 40%) 0
PART III
TOTALS
11.Total Increase in Inclusionary Obligations During This Fiscal Year(add line 4&9) 0
12. Total Increase in Very Low Income Units Inclusionary Obligations During This Fiscal Year(add line 5& 10) 0
California Redevelopment Agencies-Fiscal Year 2010/2011 03/24/2011
Schedule E(11/01)
"Totals may be impacted by rounding
Page 1 of 18
HEM -1 - Item 4. - 147
SCHEDULE HCD E1
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only:Actual Obligation is based on Implementation Plan)
Report Year: 2010/2011
Agency: HUNTINGTON BEACH
Project Area: HUNTINGTON BCH REDEV PRJCT(MRGED)
Project: 17362 KOLEDO JAMBOREE II
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation units
from forms HCD-D7 which are developed in a project area by any entity (agency or non-agency).
PART
[H&SC Section 33413(b)(1)]
AGENCY DEVELOPED
1. New Units 0
2. Substantially Rehabilitated Units 0
3. Subtotal -Baseline of Units (add line 1 &2) 0
4. Subtotal of Inclusionary Obli ation Accrued this Year for Units tine 3 x 30% 0
5. Subtotal of Inclusionary Obligation Accrued this year for Very-Low Income Units (line 4 x 50%) 0
PART II
[H&SC Section 33413(b)(2)]
NON-AGENCY DEVELOPED UNITS
6. New Units 0
7. Substantially Rehabilitated Units 0
8. Subtotal-Baseline of Units (add lines 6&7) 0
9. Subtotal of Inclusionary Obligation Accrued this year for Units(line 8 x 15%) 0
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Units (line 9 x 40%) 0
PART III
TOTALS
11.Total Increase in Inclusionary Obligations During This Fiscal Year(add line 4& 9) 0
12.Total Increase in Very Low Income Units Inclusionary Obligations During This Fiscal Year(add line 5& 10) 0
California Redevelopment Agencies-Fiscal Year 2010/2011 03/24/2011
Schedule E(11/01)
'Totals may be impacted by rounding
Page 2 of 18
Item 4. - 148 H -200-
SCHEDULE HCD E1
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only:Actual Obligation is based on Implementation Plan)
Report Year: 2010/2011
Agency: HUNTINGTON BEACH
Project Area: HUNTINGTON BCH REDEV PRJCT(MRGED)
Project: 17372 KOLEDO JAMBOREE I
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation units
from forms HCD-D7 which are developed in a project area by any entity (agency or non-agency).
PART I
[H&SC Section 33413(b)(1)]
AGENCY DEVELOPED
1. New Units 0
2. Substantially Rehabilitated Units 0
3. Subtotal-Baseline of Units(add line 1 &2) 0
4. Subtotal of lnclusiona Obligation Accrued this Year for Units line 3 x 30% 0
5. Subtotal of Inclusionary Obligation Accrued this year for Very-Low Income Units (line 4 x 50%) 0
PART II
[H&SC Section 33413(b)(2)]
NON-AGENCY DEVELOPED UNITS
New Units 0
Substantially Rehabilitated Units 0
8. Subtotal-Baseline of Units(add lines 6&7) 0
9. Subtotal of Inclusionary Obligation Accrued this year for Units(line 8 x 15%) 0
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Units (line 9 x 40%) 0
PART III
TOTALS
11. Total Increase in Inclusionary Obligations During This Fiscal Year(add line 4 &9) 0
12.Total Increase in Very Low Income Units Inclusionary Obligations During This Fiscal Year(add line 5& 10) 0
California Redevelopment Agencies-Fiscal Year 2010/2011 03/24/2011
Schedule E(11/01)
'Totals may be impacted by rounding
Page 3 of 18
H - 01- Item 4. - 149
REQUEST FOR COUNCIL ACTION
MEETING DATE: 4/18/2011 DEPARTMENT ID NUMBER: ED 11-11
Analysis: The Redevelopment Agency (Agency) has a statutory requirement to annually
submit its State Controller's Report to the State Controller's Office (SCO). The report was
submitted to the State on March 29, 2011, is comprised of information regarding the
Agency's financial transactions, blight progress, as well as loan, property, and housing
activities for the Fiscal Year 2009/2010. A copy of the Agency's single audit is also sent to
the State Controller as part of the report. This information is used at the State level to
monitor the Agency's activities and report on the progress of redevelopment, affordable
housing projects, and financing throughout California.
For the Fiscal Year 2009/2010, a noted accomplishment includes submittal and approval of
plans for the demolition of dilapidated Montgomery Ward's and auto center. The site will be
The Crossings at Bella Terra which includes 467 residential units; approximately 13,500
square feet of residential amenities including a clubhouse, fitness center, and lobby areas;
approximately 700-space residential parking garage; and 155,000 square feet of retail. The
retail area will include a Costco.
Other steps taken by the Agency in an effort to revitalize the local economy include a loan to
the Huntington Beach Marketing and Visitors Bureau (HBMVB) to promote the City as a
destination to attract and retain jobs. Efforts by the Agency to remove blight included the
construction of three pier concession-buildings which replaced cargo trailer buildings. All
three are completed and have been occupied by retailers. In addition, temporary bathrooms
along the north side of the pier have been replaced with new bathroom structures. Also, new
energy efficient lighting and newly re-built tree planters have been added to Main Street to
allow for a safer experience for pedestrians.
In the Southeast Redevelopment Project Area, the proposed development of a seawater
desalination plant, Poseidon Project, amendment was approved by the Agency in 2010. The
interim action plan for the clean-up of the ASCON landfill commenced in Fiscal Year
2009/2010. This interim plan will assist with the final plan being developed and approved by
the Department of Toxic Substances for final clean up of this hazardous site.
During Fiscal Year 2009/2010, there. were five affordable housing projects developed within
the City of Huntington Beach using Redevelopment Agency Housing Set-Aside Funds:
® Jamboree Housing IV (5 units)
® Pacific Court Apartments (48 units)
• 7911 Slater Ave (6 new units)
® City of Huntington Beach First Time Homebuyers Down Payment Assistance _
Program (DPAP)
a Emerald Cove Sale and Rehabilitation
Environmental Status: Not applicable.
Strategic Plan Goal: Maintain financial viability and our reserves
Attachment(s):
71-77 2009-2010 State Controller's Report
Item 4. - 2 H - 4-
ATTACHMENT # 1
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CITY OF HUNTINGTON BEACH, CALIFORNIA
COMPONENT UNIT FINANCIAL REPORT
WITH REPORT OF
INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT'S
FOR THE YEAR ENDED SEPTEM ER 30, 201
Prepared by the Finance Department
HB - - Item 4. - 5
TABLE OF CONTENTS
Independent Auditors' Report ..................................................................................... 1-2
Management's Discussion and Analysis....................................................................... 3-11
Basic Financial Statements:
Government-Wide Financial Statements:
Statementof Net Assets....................................................................................... 12
Statement of Activities.......................................................................................... 13
Fund Financial Statements:
Balance Sheet- Governmental Funds..................................................................... 14-15
Reconciliation of the Balance Sheet of Governmental Funds to the
Statement of Net Assets....................................................................................... 17
Statement of Revenues, Expenditures, and Changes in Fund Balances -
Governmental Funds.......................................................................................... 18-19
Reconciliation of the Statement of Revenues, Expenditures, and Changes
in Fund Balances of Governmental Funds to the Statement of Activities......................... 20
Notes to Financial Statements..................................................................................... 21-47
Calculation of Low-Moderate Income Housing Funds - Excess Surplus............................ 49
Independent Auditors' Report on Internal Control over Financial Reporting
and on Compliance and Other Matters based on an Audit of the Financial
Statements Performed in Accordance with Government Auditing Standards..................... 51-52
Item 4. - 6 HB - -
Certified Pub e Accountants.
Sa 0 amewi,•wafar=,C,ereL•t.'.Vand•t s A,>,3eley s Centn City•N'd-;p.rt fib t.r. 5�r• _ 'mgocp .coo
The Board of Directors of the
Redevelopment Agency of the City of Huntington Beach
Independent Auditor's Report
We have audited the accompanying financial statements of the governmental activities and each major
fund of the Redevelopment Agency of the City of Huntington Beach (Agency), a component unit of the
City of Huntington Beach, California, as of and for the year ended September 30, 2010, which
collectively comprise the Agency's basic financial statements as listed in the table of contents. These
financial statements are the responsibility of the Agency's management. Our responsibility is to express
opinions on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government-Auditing Standards
issued by the Comptroller General of the United States. Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes consideration of internal control over financial reporting as a basis for
designing audit procedures that are appropriate in the circumstances,but not for the purpose of expressing
an opinion on the effectiveness of the Agency's internal control over financial reporting. Accordingly, we
express no such opinion. An audit also includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements, assessing the accounting principles used and the
significant estimates made by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for our opinions.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
respective financial position of the governmental activities and each major fund of the Agency as of
September 30, 2010, and the respective changes in financial position thereof for the year then ended in
conformity with accounting principles generally accepted in the United States of America.
In accordance with Government Auditing Standards, we have also issued our report dated March 28,
2011, on our consideration of the Agency's internal control over financial reporting and on our tests of its
compliance with certain provisions of laws, regulations, contracts, and grant agreements and other
matters. The purpose of that report is to describe the scope of our testing of internal control over financial
reporting and compliance and the results of that testing, and not to provide an opinion on internal control
over financial reporting or on compliance. That report is an integral part of an audit performed in
accordance with Government Auditing Standards and should be considered in assessing the results of our
audit.
The management's discussion and analysis identified in the accompanying table of contents, is not a
required part of the basic financial statements but is supplementary information required by accounting
principles generally accepted in the United States of America. We have applied certain limited
procedures, which consisted principally of inquiries of management regarding the methods of
measurement and presentation of the supplementary information. However, we did not audit the
information and express no opinion on it.
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Item 4. - 7
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the Agency's basic financial statements. The calculation of the excess surplus of the Low-
Moderate Income Housing Fund is presented for additional analysis and is not a required part of the basic
financial statements. This information has been subjected to the auditing procedures applied in the audit
of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to
the basic financial statements taken as a whole.
)ha,c�' � Ct;� � 0
Certified Public Accountants
Newport Beach, California
March 28, 2011
Item 4. - 8 HB - 0-
` Redevelopment Agency of the City of Huntington Beach
Management's Discussion and Analysis
¢. w For the Year Ended September 30, 2010
This discussion and analysis of the Redevelopment Agency of the City of Huntington
Beach's (the Agency) financial performance provides an overview of the Agency's financial
activities for the fiscal year ended September 30, 2010. Please read it in conjunction with
the accompanying basic financial statements and the notes to those financial statements.
THE FINANCIAL STATEMENTS
The financial statements presented include activities of the Agency using the integrated
approach as prescribed by the Governmental Accounting Standards Board (GASB)
Statement No. 34, Basic Financial Statements and Management's Discussion and Analysis
- for State and Local Governments.
The financial statements include the Statement of Net Assets and the Statement of
Activities. Notes to the financial statements and certain required supplementary
information covered in this section are designed to support both statements. All sections
must be considered together to obtain a complete understanding of the financial position of
the Agency.
Statement of Net Assets — The Statement of Net Assets includes all assets and liabilities of
the Agency with the difference between the two reported as net assets. Assets and
Liabilities are reported at their book value on an accrual basis as of the statement date. It
also identifies major categories of restrictions on the net assets of the Agency.
Statement of Activities — The Statement of Activities presents the revenues earned and
expenses incurred during the year on an accrual basis.
These two statements report the Agency's net assets and changes in them. Net assets are
the difference between assets and liabilities, which is one way to measure the financial
health, or financial position.
FUND FINANCIAL STATEMENTS
The Agency uses fund accounting. A fund is defined as an independent fiscal and
accounting entity with a self-balancing set of accounts recording cash and other financial
resources together with all related liabilities and residual equities or balances and changes
therein. Funds are established in order to comply with State law, bond covenants, other
special regulations, restrictions, limitations or legal responsibilities, or simply as a tool for
managing the Agency's resources.
The fund financial statements provide detailed information about the most significant funds
— not the Agency as a whole. These funds are reported using the modified accrual basis of
accounting rather than on the full accrual basis. In the modified accrual basis, revenues
are recognized in the period in which they are both measurable and available to finance
See Independent Auditor's Report and Notes to the Financial Statements
HB - - Item 4. - 9
Redevelopment Agency of the City of Huntington Beach
Management's Discussion and Analysis
v For the Year Ended September 30, 2010
at the Pier Plaza, internal building modifications for the Main Street Library, and fire station
renovations. The Surf City Nights pilot project was originally funded through this revenue
source.
Southeast Coastal Project Area
Utility Undergrounding - Southern California Edison is taking the lead in doing the design
work for under-grounding the Edison utilities along PCH and is working with City staff,
Caltrans, and the California State Beaches Department.
Seawater Desalination Facility - The Redevelopment Agency approved an Owner
Participation Agreement (OPA,) dated February 27, 2006, with Poseidon Resources
Corporation to provide for the development of a seawater desalination plant on property
leased from the AES Corporation. The Agreement containing the covenants affecting the
real property was recorded on June 8, 2006. In September 2010, the Redevelopment
Agency considered an Amended and Restated Owner Participation Agreement. The
Agreement sets forth guarantee tax increment. The Agency will approve the OPA in
October 2010. AES in the process of removing storage tanks on this property. California
Coastal Commission approval is required for the project to be approved.
Magnolia Street Sidewalk & Lighting - This project was completed, consisting of
sidewalk and installation of pedestrian lighting on both sides of Magnolia Street. The
Agency funding was included in the Capital Improvement Program (CIP) budget for
$593,000.
Housing Activities
Emerald Cove - In May 2009, the City entered into an agreement with the Redevelopment
Agency to convey ownership of the Emerald Cove Senior Apartments (recorded as an
enterprise fund) from the City to the Redevelopment Agency Low-Income Housing Fund.
Jamboree Housing I, II, III, and IV - The Agency and City of Huntington Beach assisted
Jamboree Housing Corporation, an Orange County based non-profit housing developer
and designated CHDO (Community Housing Development Organization,) to acquire and
rehabilitate four apartment buildings in the Oakview sub-area. Through the use of HOME
funds and Housing Set Aside funds for the 25% match of non-federal funds, four buildings
consisting of 19 two-bedroom housing units will remain affordable to very low and low-
income households for at least 60 years. Jamboree will provide on-site management and
tenant services for the tenants they serve.
Pacific Court - In 2008, the Agency expended $7 million dollars in Set-Aside funds and
$500,000 in HOME funds to help a non-profit housing developer and CHDO to acquire a
48-unit apartment complex located at 2200 Delaware Avenue. The units and grounds, now
known as Pacific Court, have been fully rehabilitated, providing affordable housing for 47
very low and low-income families while retaining a portion of existing tenants.
See Independent Auditor's Report and Notes to the Financial Statements
Item 4. - 16 H -68- 10
Redevelopment Agency of the City of Huntington Beach
Management's Discussion and Analysis
For the Year Ended September 30, 2010
F f
4 �
Garfield/Delaware, Heil Affordable Housing Project — The City of Huntington Beach
acquired property at the northeast corner of Delaware and Garfield Avenues as well as
several homes adjoining Heil Avenue as part of the street widening projects. The City will
be making these surplus land parcels available for sale during the 2010/2011 fiscal year
following the exercising of its due diligence in connection with the noticing of various public
agencies, as required. The Agency may purchase the properties from the City and
thereafter develop affordable housing on the parcels.
Colette's Children's Home, Keelson Lane Project — In fiscal year 2008/09, the City
assisted Colette's Children's Home, a non-profit housing developer, and CHDO with $2.1
million dollars in Housing Set-Aside funds to assist with the acquisition and rehabilitation of
a property in the Oakview sub-area comprised of two apartment buildings. The completed
project will preserve as affordable 10 housing units of varying sizes, including two five-
bedroom units to accommodate larger low-income families. The project was completed in
September 2010. During the coming fiscal year, the City will be working with Colette's to
acquire, rehabilitate, and possibly construct additional apartment buildings adjoining these
buildings with the objective of providing quality affordable housing within the Oakview sub-
area.
CONTACTING THE AGENCY'S FINANCIAL MANAGEMENT TEAM
This financial report is designed to provide our citizens, taxpayers, customers, and
investors and creditors with a general overview of the Agency's finances and to show the
Agency's accountability for the money it receives. If you have questions about this report
or need any additional financial information, please contact the Finance Department at
2000 Main Street, Huntington Beach, California, 92648-2702, by phone (714) 536-5674, or
via e-mail JLampman@surfcity-hb.org. You can also visit the City's website at
www.surfcity-hb.org for additional copies of this report.
See Independent Auditors Report and Notes to the Financial Statements
H - 9- Item 4. - 17
REDEVELOPMENT AGENCY OF THE
CITY OF HUNTINGTON BEACH
STATEMENT OF NET ASSETS
SEPTEMBER 30, 2010
(In Thousands)
Governmental
Activities
ASSETS
Current Assets:
Cash and Investments $ 11,176
Restricted Cash with Fiscal Agent 2,402
Taxes Receivable 4,510
Other Receivables 8,861
Total Current Assets $ 26,949
Non-Current Assets:
Land Held for Resale 6,158
Capital Assets 48,777
Total Non-Current Assets 54,935
TOTAL ASSETS $ 81,884
LIABILITIES
Current Liabilities:
Accounts Payable and Accrued Liabilities $ 172
Accrued Interest Payable 186
Accrued Payroll 45
Deposits 1,665
Long-Term Debt-Due Within One Year 2,454
Total Current Liabilities $ 4,522
Non-Current Liabilities:
Long-Term Debt to the City of Huntington Beach and Component Units 85,144
Other Long-Term Debt 51,639
TOTAL LONG-TERM LIABILITIES 136,783
TOTAL LIABILITIES $ 141,305
NET ASSETS
Invested in Capital Assets $ 48,777
Restricted for:
Capital Projects 322
Low-Income Housing 23
Unrestricted (108,543)
TOTAL NET ASSETS (DEFICIT) $ (59,421)
See Independent Auditor's Report and Notes to the Financial Statements
Item 4. - 18 H - - 12
REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2010
(In Thousands)
Net(Expense)
Revenue and
Changes in Net
Program Revenues Assets
Operating Capital Grants Total
Charges for Grants and and Governmental
Expenses Current Service Contributions Contributions Activities
Functions/Programs
Governmental Activities:
Economic Development $ 17,635 $ - $ - $ - $ (17,635)
City Attorney 115 - - - (115)
Community Services 90 - - - (90)
Public Works 93 - - - (93)
Interest on Long-Term Debt 6,378 - - - (6,378)
Total Governmental Activities $ 24,311 $ - $ - $ - $ (24,311)
General Revenues:
Property Taxes 26,988
Use of Money and Property 1,861
From Other Agencies 2,156
Other 619
Total General Revenues 31,624
Change in Net Assets 7,313
Net Deficit-October 1,2009 (66,734)
Net Deficit-September 30,2010 $ (59,421)
See Independent Auditor's Report and Notes to the Financial Statements
H -71- Item 4. - 19
REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
BALANCE SHEET- GOVERNMENTAL FUNDS
September 30,2010
(In Thousands)
Capital Projects Funds
Huntington Southeast Total Capital
Beach Project Coastal Low-Income Projects
Area#1 Project Area Housing Fund Funds
ASSETS:
Cash and investments $ 2,627 $ - $ 8,549 $ 11,176
Restricted cash with fiscal agent - - - -
Due from other funds 660 - - 660
Taxes receivable - - - -
Other receivables 10 - 8,715 8,725
Advances to other funds 302 - 4,591 4,893
Land held for resale 6,158 - - 6,158
TOTAL ASSETS $ 9,757 $ - $ 21,855 $ 31,612
LIABILITIES AND FUND BALANCE
LIABILITIES:
Accounts payable and accrued liabilities $ 93 $ - $ 79 $ 172
Accrued payroll 31 - 14 45
Due to other funds - 461 - 461
Deposits - - 1,665 1,665
Deferred revenue - - 8,688 8,688
Advances from other funds 1,363 - - 1,363
TOTAL LIABILITIES 1,487 461 10,446 12,3944
FUND BALANCE:
Nonspendable
Long-Term Receivables $ - $ - $ - $ -
Land Held for Resale 6,158 - - 6,158
Advances to other funds 302 - 4,591 4,893
Restricted
Debt Service - - - -
Other Purposes 322 - 23 345
Committed
Redevelopment Capital Projects 1,251 5 - 1,256
Assigned
Low Income Housing 6,795 6,795
Debt Service - - - -
Other Purposes 237 - - 237
Unassigned - (466) - (466)
TOTAL FUND BALANCE(DEFICIT) 8,270 (461) 11,409 19,218
TOTAL LIABILITIES AND FUND BALANCE $ 9,757 $ - $ 21,855 $ 31,612
See Independent Auditor's Report and Notes to the Financial Statements
Item 4. - 20 HB - -- 14
Debt Service Funds
Huntington Southeast
Beach Project Coastal Total Debt Total All
Area#1 Project Area Service Funds Funds
$ - $ - $ - $ 11,176
2,402 - 2,402 2,402
- 1,081 1,081 1,741
4,510 - 4,510 4,510
133 3 136 8,861
- - - 4,893
- - - 6,158
$ 7,045 $ 1,084 $ 8,129 $ 39,741
$ - $ - $ - $ 172
- - - 45
1,280 - 1,280 1,741
- - - 1,665
3,471 - 3,471 12,159
3,228 302 3,530 4,893
7,979 302 8,281 20,675
$ 116 $ - $ 116 $ 116
- - - 6,158
- - - 4,893
2,403 - 2,403 2,403
- - - 345
- - 1,256
- 6,795
782 782 782
- - 237
(3,453) - (3,453) (3,919)
(934) 782 (152) 19,066
$ 7,045 $ 1,084 $ 8,129 $ 39,741
See Independent Auditor's Report and Notes to the Financial Statements
MB -7 - Item 4. - 21
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Item 4. - 22 H -7 - 16
REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO THE
STATEMENT OF NET ASSETS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
(In Thousands)
Total Fund Balances Governmental Funds $ 19,066
Amounts reported for governmental activities in the statement of net assets are different because:
Net capital assets used in governmental activities are not current financial resources and,
therefore,are not reported in the funds
Capital Assets 50,059
Accumulated Depreciation (1,282)
Property tax revenues collected more than 60 days after fiscal year are not current financial
resources and,therefore are deferred in the funds 12,159
Accrued interest payable on Long-term Debt (186)
Long-term Liabilities,including bonds and certificates of participation payable are not due and
payable in the current period and therefore are not reported in the funds (139,237)
Net Assets(Deficit)of Governmental Activities $ (59,421)
See Independent Auditor's Report and Notes to the Financial Statements
HB -75- Item 4. - 23
REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
STATEMENT OF REVENUES,EXPENDITURES
AND CHANGES IN FUND BALANCES—GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30,2010
(In Thousands)
Capital Projects Funds
Huntington Southeast Low- Total
Beach Coastal Income Capital
Project Project Housing Projects
Area#1 Area Fund Funds
REVENUES:
Tax Increment $ - $ - $ - $ -
Use of Moneyand Property 726 - 967 1,693
Intergovernmental 882 - 1,274 2,156
Other Revenue 181 - 438 619
TOTAL REVENUES 1,789 - 2,679 4,468
EXPENDITURES:
Current:
Economic Development 1,388 7 2,353 3,748
City Attorney 115 - - 115
Community Services 90 - - 90
Public Works 93 - - 93
Capital outlay 3,144 - 4,166 7,310
Debt service:
Bond &Other Debt:
Principal 216 - 405 621
Interest - - - -
TOTAL EXPENDITURES 5,046 7 6,924 11,977
EXCESS OF REVENUES OVER(UNDER)
EXPENDITURES (3,257) (7) (4,245) (7,509)
Transfers in - - 3,637 3,637
Transfers out - - - -
TOTAL OTHER FINANCING SOURCES(USES) - - 3,637 3,637
NET CHANGES IN TOTAL FUND BALANCE (3,257) (7) (608) (3,872)
FUND BALANCES(DEFICIT) -BEGINNING OF YEAR 11,527 (454) 12,017 23,090
FUND BALANCES(DEFICIT) -END OF YEAR $ 8,270 $ (461) $ 11,409 $ 19,218
See Independent Auditor's Report and Notes to the Financial Statements
Item 4. - 24 H -7 6- 18
Debt Service Funds
Huntington Southeast
Beach Coastal Total Debt
Project Project Service Total All
Area#1 Area Funds Funds
$ 18,141 $ 45 $ 18,186 $ 18,186
153 15 168 1,861
- - - 2,156
- - - 619
18,294 60 18,354 22,822
8,286 12 8,298 12,046
- - - 115
- - 90
- - 93
- - - 7,310
7,742 - 7,742 8,363
3,318 - 3,318 3,318
19,346 12 19,358 31,335
(1,052) 48 (1,004) (8,513)
- - 3,637
(3,629) (8) (3,637) (3,637)
(3,629) (8) (3,637) -
(4,681) 40 (4,641) (8,513)
3,747 742 4,489 27,579
$ (934) $ 782 $ (152) $ 19,066
See Independent Auditor's Report and Notes to the Financial Statements
HB -77- Item 4. - 25
REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2010
(In Thousands)
Net Changes in Fund Balances -Total Governmental Funds $ (8,513)
Amounts reported for governmental activities in the Statement of Activities are
different because:
Accrual of Revenues - Certain revenues in the Statement of Activities do not meet
the "availability' criteria for revenue recognition in the governmental funds and are
not reported in the governmental funds as revenue
Current Year Property Tax Accrual 12,159
Prior Year Property Tax Accrual (3,357)
Capital Expenditures- Governmental funds report capital outlays as expenditures.
However, in the Statement of Activities, the cost of these assets is allocated over
their estimated useful lives and reported as depreciation expense.
Depreciable Assets Purchased 2,392
Capital Asset Depreciation (671)
Liabilities not Liquidated with Current Resources — Some expenses reported in
the statement of activities do not require the use of current financial resources
and,therefore,are not reported as expenditures in governmental funds.
Current Year Interest Accrual (186)
Prior Year Interest Accrual 248
Long-Term Debt Proceeds - Issuances and changes in long-term debt(bonds,
leases,certificates of participation,compensated absences,etc)provide current
financial resources to governmental funds,while repayments of this debt
consumes the current financial resources of governmental funds. Neither
transaction, however, has any effect on net assets. Also,governmental funds
report the effect of issuance costs, premiums,discounts,etc.when debt is first
issued. These amounts are deferred and amortized in the Statement of Activities. (3,122)
Payments of Long-Term Debt-Principal payments on long-term debt are
recorded as an expenditure in the governmental funds and a reduction of liability
in the government-wide statements. 8,363
Change in Net Assets of Governmental Activities $ 7,313
See Independent Auditor's Report and Notes to the Financial Statements
Item 4. - 26 H - - 20
Redevelopment Agency of the City of Huntington Beach
Notes to Financial Statements
For the Year Ended September 30, 2010
1. ORGANIZATION
The Redevelopment Agency of the City of Huntington Beach (the Agency) is a blended
component unit of the City of Huntington Beach (the City) governed by the Agency's
Board of Directors. The Agency was formed by ordinance in 1967 to encourage private
development of areas that are considered blighted. The Agency adopts project areas
by public votes, which qualify under the California Health and Safety Code.
The following project areas have been adopted:
Project Area Year Adopted Status
Main/Pier 1982 (amended in 1983) Merged into Huntington
Beach Project Area #1
Talbert/Beach 1982 Merged into Huntington
Beach Project Area #1
Oakview 1982.(amended in 1989) Merged into Huntington
Beach Project Area #1
Yorktown/Lake 1982 Merged into Huntington
Beach Project Area #1
Huntington Center 1984 Merged into Huntington
Beach Project Area #1
Huntington Beach 1997 Created from five existing
Project Area #1 project areas
Southeast Coastal 2002 Began operations in 2002
Project Area
The Agency's project areas require that 20% of tax increment revenue be used to
promote affordable housing citywide.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
a. Government — Wide Financial Statements
The Agency's Government-Wide Financial Statements include the Statement of Net
Assets and the Statement of Activities. These statements present summaries of
governmental activities for the Agency accompanied by a total column. These
statements are presented on an "economic resources" measurement focus and the
accrual basis of accounting. Accordingly, all of the Agency's assets and liabilities
including capital assets and long-term liabilities are included in the accompanying
Statement of Net Assets. The Statement of Activities presents changes in net
assets. Under the accrual basis of accounting, revenues are recognized in the
period in which they are earned while expenses are recognized in the period in
which the liability is incurred.
HB -7 - Item 4. - 27
' f Redevelopment Agency of the City of Huntington Beach
Notes to Financial Statements
~ For the Year Ended September 30, 2010
P.r.ysnf
The Statement of Activities demonstrates the degree with which the direct expenses
of a given function or segments are offset by program revenues. Direct expenses
are those that are clearly identifiable with a specific function or segment. indirect
expenses are allocated to the various functions based on a proportionate use of
services. The types of transactions reported as program revenues for the Agency
are reported in three categories: 1) charges for services, 2) operating grants and
other contributions, and 3) capital grants and other contributions. Taxes and other
items not properly included among program revenues are reported as general
revenues.
Government-Wide financial statements do not provide information by fund. They
simply distinguish between governmental and business activities. All of the
Agency's activities are governmental activities. The Agency's Statement of Net
Assets includes both current and non-current assets and liabilities.
Financial Statement Classification
In the Government-Wide financial statements, net assets are classified in the
following categories:
Invested In Capital Assets, Net of Related Debt — This category groups all capital
assets, including infrastructure, into one component of net assets. Accumulated
depreciation and outstanding debt balances attributable to the acquisition,
construction, or improvement of these assets reduce this category.
Restricted Net Assets — This category presents external restrictions imposed by
creditors, grantors, contributors or laws or regulations of other governments and
restrictions imposed by law through constitutional provisions or enabling legislation.
This category presents restrictions placed on the categories of Capital Projects, Debt
Service, and Specific Projects and Programs as established by the Agency's Board
of Directors.
Unrestricted Net Assets — Represent the net assets of the Agency not restricted for
any project or other purpose.
When both restricted and unrestricted resources are available for use, it is the
government's policy to use restricted resources first, then unrestricted resources as
needed.
Item 4. - 28 H -80- 22
Redevelopment Agency of the City of Huntington Beach
t _ !Votes to Financial Statements
y For the Year Ended September 30, 2010
b. Fund Financial Statements
Measurement Focus, Basis of Accounting, and Financial Statement
Presentation
All governmental funds are accounted for on a spending or "current financial
resources" measurement focus and the modified accrual basis of accounting. Only
current assets and current liabilities are included on the Balance Sheet. The
Statement of Revenues, Expenditures, and Changes in Fund Balances present
increases (revenues and other financing sources) and decreases (expenditures and
other financing uses) in net current assets. Under the modified accrual basis of
accounting, revenues are recognized in the accounting period in which they become
both measurable and available to finance expenditures of the current period.
Revenues are recorded when received in cash, except that revenues subject to
accrual (generally received within 60 days after year-end) are recognized when due.
The primary revenue sources, which have been treated as susceptible to accrual by
the Agency, are property taxes. Expenditures are recorded in the accounting period
in which the related fund liability is incurred.
All Agency funds are reported as major funds:
Capital Project Funds:
• Huntington Beach Project Area #1
• Southeast Coastal Project Area
• tow-Income Housing Fund
Debt Service Funds:
• Huntington Beach Project Area #1
• Southeast Coastal Project Area
Governmental Fund Financial Statements
Governmental Fund Financial Statements include a Balance Sheet and a Statement
of Revenues, Expenditures and Changes in Fund Balances. An accompanying
schedule is presented to reconcile and explain the differences in fund balances as
presented in these statements to the net assets presented in the Government-Wide
Financial Statements.
The Agency's Governmental Fund Balance is made up of the following components:
• Nonspendable fund balance typically includes inventories, land held for
resale, prepaid items, and other items that, by definition, are not in spendable
form.
HB - 1- Item 4. - 29
Redevelopment Agency of the City of Huntington Beach
Notes to Financial Statements
y For the Year Ended September 30, 2010
• The restricted fund balance category includes amounts that can be spent only
for the specific purposes stipulated by constitution, external resource
providers, or through enabling legislation.
• The committed fund balance classification includes amounts that can be used
only for specific purposes as determined by a formal action of the Agency's
Board of Directors. Through formal actions, the Board of Directors has
authority to establish, modify, or rescind a fund balance commitment.
• Amounts in the assigned fund balance classification are intended to be used
by the Agency for specific purposes but do not meet the criteria to be
classified as restricted or committed. The Agency Administrator or designee
has the authority to establish, modify, or rescind a fund balance assignment.
• Unassigned fund balance is the residual classification for the Agency's funds
and includes all spendable amounts not contained in the other classifications.
In circumstances when an expenditure is made for a purpose for which amounts are
available in multiple fund balance classifications, fund balance is generally depleted
in the order of restricted, committed, assigned, and unassigned.
c. Investments
Investments are stated at fair value, except for nonparticipating investments
(Guaranteed Investment Contracts) which are stated at cost. The City of Huntington
Beach allocates investment income earned through its investment pool to funds
based on month-end cash balances. Since the Agency pools its cash with the City
(see Note 3), the Agency receives monthly allocations of investment income.
d. Special Agency Accounting
The Agency follows the special accounting procedures required by the California
Health and Safety Code. These procedures comply with generally accepted
accounting principles for governmental agencies.
e. Self-Insurance
The Agency is self-insured through the City of Huntington Beach. All required
information is included in the City of Huntington Beach Comprehensive Annual
Financial Report for the year ended September 30, 2010.
f. Land Field for Resale
Land held for resale is carried at the lower of cost or estimated realizable value as
Item 4. - 30 H -82- 24
t
Redevelopment Agency of the City of Huntington Beach
Notes to Financial Statements
For the Year Ended September 30, 2010
determined only upon the execution of a disposition and development agreement.
g. Capital Assets
Capital assets, which include property, plant, equipment, and infrastructure, are
reported in the governmental activities column in the Government-Wide financial
statements. Capital assets have an acquisition cost of $50,000 or greater and a
useful life of two years or more.
The Agency records all purchased capital assets at historical cost (where historical
records are available) and at estimated historical cost where no historical records
exist. Capital assets acquired from gifts or contributions are recorded at fair value at
the time received, or in the case of infrastructure assets, at Agency Board of
Directors' acceptance date. The Agency's capital assets include land and a parking
structure.
In the Government-Wide financial statements, depreciation for building is recorded
on the straight-line method over the estimated useful life of the asset and charged to
the respective activity or fund. No depreciation is recorded in the governmental
funds of the fund financial statements.
h. Interfund Transactions
As a general rule, interfund transactions have been eliminated from the
Government-Wide financial statements. These interfund transactions would distort
the direct costs and program revenues for the various functions.
i. Long Term Obligations
In the Government-Wide financial statements, long-term obligations are recorded as
liabilities in the governmental activities. Bond premiums and discounts, as well as
issuance costs, are deferred and amortized over the life of the debt. In the
governmental fund financial statements, bond discounts and premiums are
recognized as another financing source or use. Issuance costs are recorded as
current year expenditure.
j. Employee Compensated Absences
The Agency records the cost of all accumulated and unused leave time (vacation,
sick, comp) as a liability when earned in the Government-Wide financial statements.
H -8 - Item 4. - 31
f
'{3 Redevelopment Agency of the City of Huntington Beach
I (Votes to Financial Statements
rvx For the Year Ended September 30, 2010
f
Liabilities for these amounts in the governmental funds are only recorded if they
have matured (employee resignations or retirements).
k. Property Tax Revenue
Property tax in California is levied according to Article 13-A of the California
Constitution. The basic levy is a countywide-levy of one percent of total assessed
valuation and is allocated to county governments, school districts, cities and special
districts. Additional levies require two-thirds approval by voters and are allocated
directly to the specific government.
In the Government-Wide financial statements, property tax revenue is recorded in
the year for which it is levied, regardless of when due or received. In the fund
financial statements, property tax revenue is recognized in the fiscal year levied
provided that revenue is collected in time to pay current year liabilities. Deferred
property tax revenue represents property taxes related to the current fiscal year that
are collected more than 60 days after the fiscal year end. Since the Agency's fiscal
year differs from the County's property tax year, there is a difference between the
property tax revenue recorded on the fund financial statements and the
Government-Wide financial statements which is noted as a reconciling item in both
the Reconciliation of the Statement of Revenues, Expenditures, and Changes in
Fund Balances of Governmental Funds to the Statement of Activities and the
Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net
Assets.
The County acts as a collection agent for property tax for all of the local
governmental units. Property taxes are normally collected twice per year. The
property tax calendar is as follows.
• Lien Date — January 1 — Prior Fiscal Year
• Levy Date — July 1 — Prior Fiscal Year
• Due Date — First Installment — November 10
• Due Date — Second Installment — February 10
• Delinquent Date — First Installment — December 10
• Delinquent Date — Second Installment—April 10
The taxes are paid to the local governments periodically during the year. Below are
the dates of the payments from the County:
• Payments of First Installment — November to December
• Balance of First Installment — February 1
Item 4. - 32 HB -84- 26
Redevelopment Agency of the City of Huntington Beach
Notes to Financial Statements
R For the Year Ended September 30, 2010
® Payments of Second Installment— March to April
® Balance of Second Installment— July 26
I. Estimates
The accompanying financial statements require management to make estimates and
assumptions that effect certain report amounts and disclosures. Actual results could
differ from those estimates.
3. CASH AND INVESTMENTS
The Agency holds a proportionate interest of the City's pooled cash and investments in
the amount of $11,176,000. The Restricted Cash with Fiscal Agent, totaling
$2,402,000, consists of the Guaranteed Investment Contract (GIC) and the Local
Agency Investment Fund (LAIF) accounts as illustrated below.
Investment Type Amount
Held by Fiscal Agent:
Guaranteed Investment Contract(GIC) 1,649,250
Local Agency Investment Fund (LAIF) 753,001
Total General Investments $ 2,402,251
The weighted average maturity of the investment in the City Pool is 555 days. The City
investment pool is not rated. In fiscal year 2009/10, the effective rate of return in
investments was 1.54%. The GIC provider is rated by Standard and Poor's and Moody's
at A+ and Aa3. The GIC itself is unrated. Standard and Poor's and Moody's have rated
the money market funds in the Agency's portfolio as AAA.
The Restricted Cash with Fiscal Agent that is in the Local Agency Investment Fund
(LAIF) or money market accounts is due upon demand while the amount with GIC has a
maturity of over five years. For further information, such as credit risk and
categorization of the cash and investments, see the City's Comprehensive Annual
Financial Report for the fiscal year ended September 30, 2010.
The Agency is a voluntary participant in the Local Agency Investment Fund (LAIF) that
is regulated by the California Government Code under the oversight of the Treasurer of
the State of California. The fair value of the Agency's investment in this pool is reported
in the accompanying financial statements at amounts based upon the Agency's pro rata
share of the fair value provided by LAIF for the entire LAIF portfolio (in relation to the
HB -8 - Item 4. - 33
Redevelopment Agency of the City of Huntington Beach
Notes to Financial Statements
For the Year Ended September 30, 2010
! Y
amortized cost of that portfolio). The balance available for withdrawal is based on the
accounting records maintained by LAIF, which are recorded on an amortized cost
basis. LAIF is not rated. The Agency's LAIF balance at September 30, 2010, was
$753,001.
The total amount invested by all public agencies in LAIF as of September 30, 2010, was
$21.8 billion. LAIF is part of the California Pooled Money Investment Account (PMIA),
which at September 30, 2010, had a balance of $67.6 billion, of that amount, 4.71% was
invested in medium-term and short-term structured notes and asset-backed securities.
The average maturity of PMIA investments was 185 days as of September 30, 2010.
4. TAX INCREMENT REVENUE AND FINANCING
The Agency's primary source of revenue is tax increment. Tax increment revenue is
computed as follows:
• When a project area is adopted, the County of Orange Auditor/Controller freezes
all of the existing property's assessed value. The County distributes taxes
received from this frozen valuation to the various governmental agencies as if the
project area did not exist.
• The Agency receives 100% of taxes (not including certain pass-through
agreements) received from increases in assessed valuation due to new
construction, resale of existing property and annual increases allowed under
Article 13-A of the California Constitution.
The increment is used to repay the debt of the Agency (see Note 7).
Item 4. - 34 H -86- 28
Redevelopment Agency of the City of Huntington Beach
Notes to Financial Statements
;..; For the Year Ended September 30, 2010
5. CAPITAL ASSETS
The capital asset activity for the year was (in thousands):
October 1, September
Governmental Activitites 2009 Additions Dispositions 30,2010
Capital Assets,Not Depreciated:
Land $ 17,153 - - $ 17,153
Total Capital Assets-Not Depreciated 17,153 - - 17,153
Capital Assets Being Depreciated:
Buildings 30,514 2,392 - 32,906
Total Capital Assets Being Depeciated 30,514 2,392 - 32,906
Less Accumulated Depreciation:
Buildings (611) (671) - (1,282)
Total Accumulated Depreciation (611) (671) - (1,282)
Total Depreciated-Net 29,903 1,721 - 31,624
Total Capital Assets 47,667 2,392 - 50,059
Total Accumulated Depreciation (611) (671) - (1,282)
Capital Assets of Governmental Activitites-Net $ 47,056 $ 1,721 $ - $ 48,777
6. INTERFUND TRANSACTIONS
a. Due To/From Other Funds
The amounts at Year-end were (in thousands):
Due from Other Due to Other
Funds Funds
Huntington Beach Project Area#1 Capital Projects $ 660 $ -
Southeast Coastal Project Area Debt Service 1,081
Southeast Coastal Project Area Capital Projects 461
Huntington Beach Project Area#1 Debt Service 1,280
Tota 1 $ 1,741 $ 1,741
These outstanding balances result mainly from short-term borrowings to cover
payments for goods and services.
1-113 -87- Item 4. - 35
Redevelopment Agency of the City of Huntington Beach
Notes to Financial Statements
A4# For the Year Ended September 30, 2010
f
b. Advances to/from Other Funds
The amounts at Year-end were (in thousands):
Advances to Advances from
Other Funds Other Funds
Huntington Beach Project Area#1 Capital Projects $ 302 $ -
Low-Income Housing Capital Projects 4,591
Huntington Beach Project Area#1 Capital Projects 1,363
Huntington Beach Project Area#1 Debt Service 3,228
Southeast Coastal Project Area Debt Service 302
Total $ 4,893 $ 4,893
There is a $1,363,000 advance from the Low-Income Housing Fund to the
Huntington Beach Project Area #1 Capital Projects Fund for the Main Pier property
acquisitions. There are no scheduled repayments for this advance.
There is a $302,000 advance from the Huntington Beach Project Area #1 Capital
Projects Fund to the Southeast Coastal Project Area Debt Service Fund for the
Southeast Coastal Project Area. There are no scheduled repayments for this
advance.
There is a $3,228,000 advance from the Low Income Housing Fund to the
Huntington Beach Project Area #1 — Debt Service Fund for Supplemental Education
Revenue Augmentation Fund (SERAF) contributions. See Note 13 for further details.
c. Transfers In/Out
The amounts at Year-end were (in thousands):
Transfers In Transfers Out
Low Income Housing Fund $ 3,637 $ -
Huntington Beach Project Area#1 Debt Service 3,629
Southeast Coastal Project Area Debt Service 8
Total $ 3,637 $ 3,637
Item 4. - 36 Hl -88- 30
F
Redevelopment Agency of the City of Huntington Beach
Notes to Financial Statements
For the Year Ended September 30, 2010
x
The following is a summary of the significant transfers:
e $3,629,000 was transferred from the Huntington Beach Project Area #1 Debt
Service Fund and $8,000 was transferred from the Southeast Coastal Project
Area Debt Service Fund to the Low-Income Housing Fund to comply with the
20% tax increment set-aside requirement.
HB -89- Item 4. - 37
,`. Redevelopment Agency of the City of Huntington Beach
Notes to Financial Statements
For the Year Ended September 30, 2010
7. LONG-TERM DEBT
The changes in Agency long-term debt during the year were (in thousands):
Balance Balance Amount Due
October 1, September within One
2009 Additions Retirements 30,2010 Year
DEBT TO CITY OF HUNTINGTON BEACH:
Advances from General Fund $ 10,903 $ 1,143 $ (3,051) $ 8,995 $ -
Advances from Sewer Fund 260 5 - 265 -
Advances from Drainage Fund 625 14 - 639 -
Advances from Water Fund 39871 92 - 3,963 -
Deferred Development Fees:
Park Acquisition and Development Fund 382 9 - 391 -
Sewer Fund 162 4 - 166 -
Drainage Fund 171 4 - 175 -
Deferred Payment on Land
Purchases from City:
General Fund 62,213 1,487 (29472) 61,228 -
Emerald Cove 4,866 (405) 4,461 406
Park Acquisition and Development Fund 5,144 123 5,267 -
Total Debt-City of Huntington
Beach 88,597 2,881 (5,928) 85,550 406
OTHER DEBT
Help Loan 500 - - 500 -
Mayer Disposition and Development
Agreement 6,503 (350) 6,153 -
1999 Refunding Tax Allocation Bonds 7,020 (410) 6,610 430
2002 Tax Allocation Refunding Bonds 15,380 (910) 14,470 945
Bella Terra Parking 14,227 (151) 14,076 -
CIM DDA(Parking&Infrastructure) 7,768 (324) 7,444 157
CIM DDA(Additional Parking) 421 19 440 6
Section 108 Loan 3,955 - (290) 3,665 310
Pollution Remediation 200 200 200
Employee Compensated Absences 107 37 (15) 129 -
Total Other Debt 55,881 256 (2,450) 53,687 2,048
Total Agency Debt $ 144,478 $ 3,137 $ (8,378) $ 139,237 $ 2,454
Item 4. - 38 HB -90- 32
Redevelopment Agency of the City of Huntington Beach
Notes to Financial Statements
For the Year Ended September 30, 2010
a. Advances from General Fund to Merged Project Area
Years debt incurred 1985 to 1996
Interest rate 3.81% *
Principal amount $8,879,612
Accrued interest $115,373
Balance at Fiscal Year End $8,994,985
Purpose of debt Operating,
administrative and
capital expenditures
Security for debt Operative Agreement
with City
Principal and Interest Payment Date October 1st
b. Advances from City's Sewer Fund
Years debt incurred 1989
Interest rate * 3.81%
Principal amount $130,560
Accrued interest $134,769
Balance at Fiscal Year End $265,329
Purpose of debt Sewer Construction
Security for debt Operative Agreement
with City
Principal and Interest Payment Date October 1st
c. Advances from City's Drainage Fund
Years debt incurred 1987
Interest rate * 3.81%
Principal amount $250,000
Accrued interest $389,443
Balance at Fiscal Year End $639,443
Purpose of debt Drainage
Construction
Security for debt Operative Agreement
with City
Principal and Interest Payment Date October 1 st
HB -91- Item 4. - 39
Redevelopment Agency of the City of Huntington Beach
Notes to Financial Statements
For the Year Ended September 30, 2010
d. Advances from City's Water Fund
Years debt incurred 1986 and 1987
Interest rate * 3.81% *
Principal amount $1,138,000
Accrued interest $2,825,276
Balance at Fiscal Year End $3,963,276
Purpose of debt Water Construction
Security for debt Operative Agreement
with City
Principal and Interest Payment Date October 1st
e. Deferred Development Fees
Years debt incurred 1984
Interest rate * 3.81%
Principal amount $339,202
Accrued interest $392,647
Balance at Fiscal Year End $731,849
Purpose of debt Developer Incentive
Security for debt Operative Agreement
with City
Principal and Interest Payment Date October 1st
f. Deferred Payment on Land Purchases from City's General Fund
Years debt incurred 1983 to 1992
Interest rate * 3.81% *
Principal amount $32,833,417
Accrued interest $29,394,921
Balance at Fiscal Year End $61,228,338
Purpose of debt Parcel consolidation
and development
Security for debt Operative Agreement
with City
Principal and Interest Payment Date October 1st
* The accrued interests for fiscal year 2009/10 were based on the City Treasurer's
Annual Rate of Return in Investments of 2.39%. In January 2011, the City
Council/Redevelopment Board approved a revised Cooperation Agreement, which
Item 4. - 40 HB -92- 34
r
Redevelopment Agency of the City of Huntington Beach
Motes to Financial Statements
~ For the Year Ended September 30, 2010
included a Promissory Note that memorialized indebtedness previously incurred by
the Agency and owed to the City from a series of loans made from the City to the
Agency from 1982 to present. Based on this Cooperation Agreement, future accrued
interests will be based on 3.81%.
g. Deferred Payment on Land Purchases from City
In May 2009, the City entered into an agreement with the Redevelopment Agency to
convey ownership of the Emerald Cove Senior Apartments (recorded as an
enterprise fund) from the City to the Redevelopment Agency Low-Income Housing
Fund. The balance of the note from the Low-Income Housing Fund to the City as of
September 30, 2010 is $4,461,000.
Debt service requirements to maturity are (in thousands):
Year Debt Incurred 2009
Original Principal Amount $5,171,000
Interest Rates 4.75% - 5.5%
Purpose of Debt Conveyance of Emerald
Cove Senior Apartments
Security I Agreement with City
Year Ending
September 30, principal Interest Total
2011 232 174 406
2012 241 163 404
2013 254 151 405
2014-2021 2,573 673 3,246
Total $ 3,300 $ 1,161 $ 4,461
HB -. 3- Item 4. - 41
Redevelopment Agency of the City of Huntington Beach
Notes to Financial Statements
For the Year Ended September 30, 2010
h. Deferred Payment on Land Purchases from City's Park Acquisition
and Development Fund
Years debt incurred 1984
Interest rate * 3.81%
Principal amount $1,740,834
Accrued interest $3,526,576
Balance at Fiscal Year End $5,267,410
Purpose of debt Emerald Cove Land
Security for debt Operative Agreement
with City
Principal and Interest Payment Date October 1st
i. Notes Payable — HELP Loan Funds
Years debt incurred 2003
Interest rate 3.00%
Principal amount $500,000
Purpose of debt Affordable housing
Security for debt Note with developer
Repayment terms Deferred for 10 years
j. Mayer Disposition and Development Agreement
In fiscal year 1996/97, the Agency entered into a Disposition and Development
Agreement with Robert Mayer Corporation (Corporation) concerning additional
development adjacent to the Waterfront Hotel. Under the agreement, the
Corporation would advance payments for the project costs with the Agency
reimbursing up to $16,750,000 of the costs. As of September 30, 2010, the Agency
obligation under the agreement amounted to $6,153,000. Project-generated
revenues as available will repay these amounts through September 30, 2023.
k. 1999 Tax Allocation Refunding Bonds
Years debt incurred 1999
Interest rate 3.00% to 5.05%
Original principal amount $10,835,000
Purpose of debt Prepay Agency's 1992 Loans to Public
Financina Authori4
Item 4. - 42 H - - 36
Jf r
Redevelopment Agency of the City of Huntington Beach
�'. Notes to Financial Statements
x For the Year Ended September 30, 2010
Security for debt Redevelopment Agency Tax Increment,
excluding Low- Income Housing
Amounts
Repayment terms Principal, August 1 S , Interest, February
1 St and August 1 St
Debt service requirements to maturity are as follows (in thousands):
Year Ending
September 30, Principal Interest Total
2011 430 317 747
2012 450 298 748
2013 465 278 743
2014 490 257 747
2015-2019 2,840 914 3,754
2020-2024 1,935 292 2,227
Total $ 6,610 $ 2,357 $ 8,967
I. 2002 Tax Allocation Refunding Bonds
Year of Issuance 2002
Type of Debt Tax Allocation Refunding
Bonds
Original Principal Amount $20,900,000
Security Tax Increment
Interest Rates 2.00% to 5.00%
Interest Payment Dates February 1S and Au ust 1S
Principal Payment Dates August 1 s
Purpose of Debt Prepay Agency's 1992
Loans to Public Financing
Authority and fully defease
1992 Public Financing
Authority bonds
HB -9 - Item 4. - 43
\� Y
w`. Redevelopment Agency of the City of Huntington Beach
Notes to Financial Statements
For the Year Ended September 30, 2010
Debt service requirements to maturity are (in thousands):
Year Ending
September 30, Principal Interest Total
2011 945 678 1,623
2012 995 641 1,636
2013 1,040 601 1,641
2014 1,080 558 1,638
2015-2019 6,195 2,004 8,199
2020-2024 4,215 634 4,849
Total $ 14,470 $ 5,116 $ 19,586
Pledged Revenues
The 1999 and 2002 Tax Allocation Refunding Bonds are secured by tax increment.
revenues excluding the 20% total tax increment dedicated to the Low Income
Housing fund. As of September 30, 2010, the total principal and interest remaining
for both bonds is $28,553,000. Pledged tax increment revenue recognized during
the fiscal year was $14,549,000 against the total debt service payment of
$2,366,000. Although the incremental property taxes were projected to produce
sufficient revenues to meet the debt service requirements over the life of the bonds,
certain conditions could have a material adverse impact on revenues allocated to the
Agency. These include future decreases in the assessed valuation of the project
areas, decreases in the applicable tax rates or collection rates, general decline in the
economic condition of the project areas, or a change in law reducing the tax
increment received by the Agency.
m. Bella Terra Parking Structure
In fiscal year 2005-06, the Agency entered into an Owner Participation Agreement
with Bella Terra Associates, LLC (formerly Huntington Center Associates, LLC).
Under the Agreement, the Corporation would construct various public improvements
including a parking structure, which would then be deeded to the City. The Agency
would reimburse $15,000,000 of the costs of the public improvements.
As of September 30, 2010, the Agency obligation under the agreement amounted to
$14,076,000. Project-generated revenues as available will repay these amounts
through September 30, 2025.
Item 4. - 44 H - - 38
�y
Redevelopment Agency of the City of Huntington Beach
Notes to Financial Statements
For the Year Ended September 30, 2010
n. CIM/Huntington Disposition and Development Agreement — Strand Parking
Structure and Infrastructure
Year of Issuance 2009
Type of Debt Loan from CIM Group, LLC
Original Principal Amount $7,900,000
Security Tax Increment
Interest Rates 7.0%
Interest Payment Dates September 30
th
Principal Payment Dates September 30
th
Purpose of Debt Strand Parking Structure and
Infrastructure
The Implementation of Disposition and Development Agreement (DDA) and the
Sixth Implementation Agreement (Agreements) between the CIM Group, LLC (CIM)
and the Redevelopment Agency (Agency) were entered into from June 1999 to
November 2008. The Agreements allow for the development of a hotel, retail and
restaurant, and a public parking structure.
The project costs for infrastructure are to be paid initially by the developer. The
Agency will reimburse the developer a maximum of $7.9 million within 25 years
through net tax increment revenues generated by the Merged Redevelopment
Project Area.
The Sixth Implementation Agreement includes an additional onetime payment of
$2.4 million from the Agency to CIM for the development of the hotel. The Agency
has paid the $2.4 million and the $500,000 in parking in lieu fees along with the first
payment towards the $7.9 million. As of September 30, 2010, the Agency obligation
under the agreement amounted to $7,444,000.
Debt service requirements to maturity are as follows (in thousands):
Year Ending
September 30, Principal Interest Total
2011 157 521 678
2012 168 510 678
2013 179 498 677
2014 192 486 678
2015-2024 2,839 3,940 6,779
2025-2033 3,909 1,276 5,185
$ 7,444 $ 7,231 $ 14,675
H - 7- Item 4. - 45
Redevelopment Agency of the City of Huntington Beach
Notes to Financial Statements
For the Year Ended September 30, 2010
o. CIM/Huntington Disposition and Development Agreement — Additional Strand
Parking
Year of Issuance 2009
Type of Debt Loan from CIM Group, LLC
Original Principal Amount $950,000
Security Tax Increment
Interest Rates 10.0%
Interest Payment Dates September 30
Principal Payment Dates September 30
Purpose of Debt Additional Strand Parking
Structure and Infrastructure
The City Parking In-Lieu Fund repaid $500,000 of the total debt in fiscal year
2008/09. The remaining loan repayment shall be made solely from net tax
increment generated by the Merged Redevelopment Project Area by 2033. As of
year-end, the Agency obligation under the agreement amounted to $440,000.
Debt service requirements to maturity are as follows (in thousands):
Year Ending
September 30, Principal Interest Total
2011 5 44 49
2012 6 43 49
2013 7 43 50
2014 7 42 49
2015-2024 130 366 496
2025-2033 285 160 445
$ 440 $ 698 $ 1,138
p. Section 108 Loan
Year of Issuance 2000
Type of Debt Loan from Federal
Government
Original Principal Amount $6,000,000
Security Loan Agreement with Federal
Government
Interest Rates 2.3% - 3.3%
Item 4. - 46 HB - - 40
,'. Redevelopment Agency of the City of Huntington Beach
Notes to Financial Statements
For the Year Ended September 30, 2010
r
Interest Payment Dates February 1 S and August 1 s
Principal Payment Dates Au ust 1 s
Purpose of Debt Capital Improvements
Debt service requirements to maturity are (in thousands):
Year Ending
September 30, Principal Interest Total
2011 310 84 394
2012 330 80 410
2013 350 78 428
2014 375 73 448
2015-2019 2,300 219 2,519
Tota 1 3,665 534 4,199
In fiscal year 2009/10, the Agency refinanced its Section 108 loan through the
Department of Housing and Urban Development. The refinancing of the Section 108
loan enabled the Agency to lower its current interest rate from 7.7% to an interest
rate of no greater than 3%. The refinancing will result in $1,000,000 savings
throughout the loan.
q. Pollution Remediation
The Agency purchased property on Edinger Avenue to consolidate land for
redevelopment on January 28, 2009. The Agency plans on remediating hazardous
materials on this site. The estimated cost of cleanup is $200,000 and it is reported
as a long-term liability. The cleanup costs will not exceed the estimated amount as
an environmental insurance policy taken by the Agency will indemnify itself against
further liability.
r. Employee Compensated Balances
There is no fixed repayment to pay the compensated absences liability totaling
$129,000 at year-end.
8. RETIREMENT PLAN INFORMATION
The Agency is a component unit of the City. For retirement purposes, all Agency
employees are considered to be employees of the City. No separate valuations are
- HB -99- Item 4. - 47
Redevelopment Agency of the City of Huntington Beach
Notes to Financial Statements
, ;, For the Year Ended September 30, 2010
made for the Agency. All retirement information for the City as a whole is included in the
City's Comprehensive Annual Financial Report.
9. AGENCY AGREEMENTS
a. Pass-Through Agreements
The Agency entered into various "pass-through"Agreements with local governmental
agencies where a portion of tax increment is paid to the individual agencies. There
was no amount payable at year-end.
b. Pacific City
On October 16, 2006, the Redevelopment Agency approved an Owner Participation
Agreement (OPA) with Makallon Atlanta Huntington Beach, LLC (also known as
Makar) to develop a 31-acre site in the Main-Pier sub-area of the Huntington Beach
Redevelopment Project (Pacific City). Makar will advance $5,500,000 to the
Redevelopment Agency to fund the Agency's obligation for the Regional Urban
Runoff Treatment System and the Pacific View Drive Extension. The advance will
be repaid over 20 years from tax increment generated from the site. As of
September 30, 2010, the project has not commenced yet.
c. Southeast Coastal Redevelopment Project
On September 2, 2003, the Redevelopment Agency approved a Cooperation
Agreement regarding Capital Improvements in the Southeast Coastal
Redevelopment Project with the City. This Agreement commits the Redevelopment
Agency to reimburse the City for a number of capital improvement projects to be
undertaken as part of the Five-Year Capital Improvement Program in the Southeast
Redevelopment Project Area beginning in Fiscal Year 2003/04. As of September
30, 2010, there was no change in debt for the Southeast Coastal Project other than
for interest accrual.
Years debt incurred 2003
Interest rate * 2.39%
Principal amount $7,076,657
Accrued interest $ 13,662
Balance at Fiscal Year End $7,090,319
Purpose of debt Operating,
administrative and
capital expenditures
Security for debt Operative Agreement
with City
Principal and Interest Payment Date October 1"
Item 4. - 48 HB -100- 42
l - Y
Gk
' Redevelopment Agency of the City of Huntington Beach
Notes to Financial Statements
For the Year Ended September 30, 2010
* The accrued interests for fiscal year 2009/10 were based on the City Treasurer's
Annual Rate of Return in Investments of 2.39%. In January 2011, the City
Council/Redevelopment Board approved a revised Cooperation Agreement, which
included a Promissory Note that memorialized indebtedness previously incurred by the ,
Agency and owed to the City from a series of loans made from the City to the Agency
from 1982 to present. Based on this Cooperation Agreement, future accrued interests
will be based on 3.81%.
10.NOTES RECEIVABLE
The Agency has made loans of $19,903,626 available to developers to construct or
rehabilitate certain facilities under deferred loan agreements. These loans are deferred
until a future event occurs, such as a sale of the property by the developer. Some notes
may be forgiven after a period of time. As of September 30, 2010, the net loans receivable
balance includes the $8,000,000 conveyance of the Emerald Cove Senior Apartments and
the Agency's financing of the developer's acquisition of the site to a non-profit affordable
housing developer.
A summary of Notes Receivable as of September 30, 2010 is as follows:
Description Amounts
Developer Loans Receivable $ 19,903,626
Emerald Cove Loan Receivable 8,070,000
Help Loan 500,000
First Time Homebuyers Receivable 618,410
Section 108 6,000,000
Other Receivables 172,049
Total Other Receivables 35,264,085
Allowance for Uncollectible Developer Loans (26,403,626)
Net Notes Receivables $ 8,860,459
11.PENDING LITIGATION
There are legal actions pending against the Agency resulting from normal operations. The
Agency's Counsel feels these actions will not have a significant impact on these financial
statements.
12.OTHER
The Agency's combined net assets for the year ended September 30, 2010 were a
negative ($59,421,000). This is mainly because of how Redevelopment Agencies are
H - 1- Item 4. - 49
r
Redevelopment Agency of the City of Huntington Beach
( _* Notes to Financial Statements
` Wx For the Year Ended September 30, 2010
required to operate under state law. Redevelopment Agencies incur debt in order to make
expenditures, which results in increased public and private investments in the
redevelopment area, which in turn generate property tax increment to repay the debt over
time. Redevelopment Agencies can only collect property tax increment to the extent they
have debt on the books.
13.SERAF CONTINGENCY
Pursuant to Assembly Bill 26 4x, a budget trailer bill, California redevelopment agencies
were required to make Supplemental Education Revenue Augmentation Fund (SERAF)
contributions totaling $1.7 billion for the fiscal year 2009-2010 and $350 million for the fiscal
year 2010-2011. Under this bill, the Agency's SERAF contribution for fiscal year 2009-10
was $5,380,000. The Agency's estimated contribution for fiscal year 2010-11 is $1,107,000.
On October 20, 2009, the California Redevelopment Association filed a class action lawsuit
on behalf of all California Redevelopment Agencies, challenging the SERAF transfer as
unconstitutional. The case is currently under appeal.
14.SUBSEQUENT EVENT
a. Bella Terra Phase II
On October 4, 2010, the Agency approved the Affordable Housing Agreement with
BTDJM Phase II Associates (DJM). The Agreement will facilitate the construction of a
467 mixed-use unit project including 43 moderate units and 28 very low units. This
Agreement will reimburse DJM for construction of the affordable units only up to
$17,000,000 plus 4% interest. The Agreement also includes payment to DJM of up to
$250,000 for the pedestrian access crossing between the Levitz site and the Village at
Bella Terra if construction is within 10 years of the Affordable Housing Agreement. The
reimbursement of the affordable units will be based upon the site-generated tax
increment for the mixed use project as well as the 20% housing fund from Bella Terra I.
b. Governor's Proposed 2011-12 Budget: Disestablishment of Redevelopment
Agencies
On January 10, 2011, the Governor released the proposed fiscal year 2011-12 State
budget, which proposes the elimination of redevelopment agencies. The proposed
budget calls for prohibiting redevelopment agencies from creating new contracts or
obligations or modifying existing contracts on or after the date urgency legislation is
adopted. The proposed budget also calls for disestablishing existing agencies by July
1, 2011, and establishing successor local agencies, which would be required to use the
property tax that the agencies would otherwise have received to retire pre-existing
Item 4. - 50 HB -1 02- 44
Redevelopment Agency of the City of Huntington Beach
(Votes to Financial Statements
sx<
For the Year Ended September 30, 2010
agency debts and contractual obligations in accordance with existing payment
schedules. In this regard, the Governor's Budget Summary for the proposed 2011-12
State budget states, "No existing obligations will be impaired." This is a reference to
provisions in the federal and state constitutions that, subject to certain exceptions,
generally prohibit states from passing a law that impairs the obligations of contracts.
Under the Governor's proposal, the amount remaining in fiscal year 2011-12 after the
payment of pre-existing agency obligations would be distributed on a one-time basis in
various ways, including to the affected local taxing entities (including cities) and to the
State General Fund to offset the costs for Medi-Cal and trial courts. Beginning in fiscal
year 2012-13, the amount remaining after the payment of pre-existing agency
obligations generally would be distributed to cities, counties, special districts, and K-14
schools in amounts proportionate to their share of the countywide property tax.
Amounts in Low and Moderate Income Housing Funds would be shifted to local housing
authorities for low and moderate income housing. However, under the Proposed
Legislation (defined and described below), the amounts in the Low and Moderate
Income Housing Fund, along with all the rights, powers, assets, liabilities, duties and
obligations associated with the housing activities of the redevelopment agency may
instead be shifted to the city or county that created the redevelopment agency. The
budget also proposes that the Constitution be amended to provide for 55 percent voter
approval for limited tax increases and bonding against local revenues for development
projects such as those projects currently undertaken by redevelopment agencies.
On February 18, 2011, the California Senate and Assembly budget committees voted in
favor of the proposed budget. The Assembly budget committee qualified its support by
stating that the State general fund savings could be accomplished by legislation that
would reform rather than eliminate redevelopment. On February 23, 2011, the
California Department of Finance released language of proposed legislation that would
implement the Governor's proposed budget with respect to the dissolution of
redevelopment agencies (the "Proposed Legislation"). The Proposed Legislation has
not been formally introduced as of March 28, 2011, but the Agency expects it will be
introduced and taken up by the budget conference committee in the near future. It
appears that the normal process of hearings in policy committees and the attendant
opportunity for amendment and refinement of the Proposed Legislation may not be
followed, although the budget conference committee would have wide latitude to amend
the Proposed Legislation. Accordingly, no assurance can be given regarding whether
or not the Proposed Legislation will be enacted in its present form, or at all.
The Proposed Legislation is styled as an urgency measure, which requires a two-thirds
vote of each house of the Legislature for passage, and which would become effective
immediately upon the signature of the Governor.
HB -103- Item 4. - 51
'. Redevelopment Agency of the City of Huntington Beach
Notes to Financial Statements
For the Year Ended September 30, 2010
Under the Proposed Legislation, the Agency would be prohibited from entering into any
new contracts with, or incurring obligations or making commitments to, any entity,
individual or groups of individuals upon the effectiveness of the Proposed Legislation.
The Agency would be dissolved and, unless the City elects otherwise, the City would
become the successor entity to the Agency (the "Successor Agency"), to settle the
affairs of the Agency. The Successor Agency would be subject to the direction of an
oversight board (the "Oversight Board"), to be composed of seven members, with only
one member selected by the City Council. The remaining members would be selected
by the County Board of Supervisors, the County Superintendent of Education and the
largest non-enterprise special district (by property tax share) with territory within the
territorial jurisdiction of the former Agency. All assets, properties, contracts, leases,
books and records, buildings and equipment of the former Agency would be transferred
to the control of the Successor Agency on July 1, 2011. The Successor Agency would
be charged with preparing "Recognized Obligation Payment Schedules," which
document the minimum payments and due dates of payments required by "enforceable
obligations" for each half-year fiscal period. The establishment of the Recognized
Obligation Payment Schedules would be subject to the Oversight Board's approval.
"Enforceable obligations" include, among other things, bonds issued pursuant to the
Redevelopment Law (including the required debt service, reserve set-asides and any
other payments required under the indenture or similar documents governing the
issuance of outstanding bonds of the former Agency).
For the 2011-12 fiscal year, the draft of the Recognized Obligation Payment Schedule
must be reviewed and certified, as to its accuracy, by an external auditor. The
Proposed Legislation provides that payments due before January 1, 2012 will be made
from revenues received in the spring of 2011 property tax distribution. Commencing
January 1, 2012, only those payments listed in the Recognized Obligation Payment
Schedule may be made by the Successor Agency from funds specified in the
Recognized Obligation Payment Schedule.
Under the Proposed Legislation, the Oversight Board will be required to direct the
Successor Agency to dispose of generally, all assets and properties of the former
Agency, except for assets and properties deemed part of approved development
projects, and cease performance in connection with and terminate all existing
agreements that do not qualify as enforceable obligations. An "approved development
project" is defined as a project (excluding an agreement for any of the following:
planning, financing services, site search, or other staff or consulting activities in
preparation for redevelopment work) where construction, site remediation, design, or
environmental assessment work or property acquisition is required by the former
Agency pursuant to an enforceable obligation between the former Agency and a party
other than the entity that created the Agency (i.e., the City) and either (1) substantial
Item 4. - 52 H -10 - 46
J
Redevelopment Agency of the City of Huntington Beach
Notes to Financial Statements
For the Year Ended September 30, 2010
performance under the applicable agreements had taken place prior to the effective
date of the Proposed Legislation in its final form, or (2) the Oversight Board determines
that it would be beneficial for the taxing entities or the communities to continue the
project even though there had not been substantial performance under the applicable
agreements. The potential impact of the Proposed Legislation, if adopted as proposed,
would be material to the Agency and the ability of the Agency or any Successor Agency
to conduct, or continue to completion, redevelopment activities currently being
undertaken or proposed to be undertaken by the Agency with respect to the Project
Area.
Although the Agency cannot predict what the final language of the Proposed Legislation
will be, the Proposed Legislation, in its current form, states that the intent of the
Legislature is to do the following:
"(1) Bar existing redevelopment agencies from incurring new obligations that would
divert any more money from core functions and dissolve all existing redevelopment. It is
the intent of the Legislature that the greatest amount of funding be realized from these
actions to fund core governmental services.
(2) Beginning with 2012-13 fiscal year, allocate these funds according to the existing
property tax allocation, except for enterprise special districts, to make the funds
available for cities, counties, special districts, school and community college districts to
provide core governmental services. As a result of these actions, it is estimated that, by
fiscal year 2012-13, these local entities will receive $1.9 billion per year in new
resources to use for their core priorities.
(3) Require a successor entity to settle the affairs of the redevelopment agencies.
(4) Require the protection of contractual rights by successor agencies, which will be
required to retire redevelopment agency debts in accord with existing payment
schedules. No existing contractual obligations will be impaired."
The Proposed Legislation implements the above-described intent of the Legislature
through a complex series of provisions, and appears to contain several inconsistencies
and drafting problems which will likely require revision. The Agency cannot predict what
the final language of the Proposed Legislation will be or whether the Proposed
Legislation in any form will be adopted.
HB -105- Item 4. - 53
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Item 4. - 54 H -106- 48
REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
CALCULATION OF LOW/MODERATE INCOME HOUSING FUNDS - EXCESS SURPLUS
October 1, 2009
(IN THOUSANDS)
ENDING FUND BALANCE-OCTOBER 1,2009 $ 12,017
Less Unavailable Amounts:
Encumbrances (7,024)
Advances to Other Funds (1,363)
AVAILABLE FUND BALANCE-OCTOBER 1,2009 $ 3,630
AVAILABLE LOW/MODERATE INCOME HOUSING FUNDS
LIMITATION(GREATER OF$1,000,000 OR FOUR YEARS SET-ASIDE):
Set-aside for fiscal years 2005-06 to 2008-09
2005-2006 2,780
2006-2007 3,062
2007-2008 3,405
2008-2009 3,677
TOTAL SET-ASIDE FOR LAST FOUR YEARS 12,924
COMPUTED EXCESS/SURPLUS-OCTOBER 1,2009 $
H - 07- Item 4. - 55
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a
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P
Item 4. - 56 H -108- 50
T'Re"_ CertffledPdbHc Ac
Sacramento•Walnut Creek•Oakland•Los Angeles+Century City•Newport Beach•San Diego Ift"Cpaxem
The Board of Directors of the
Redevelopment Agency of the City of Huntington Beach
Independent Auditor's Report on Internal Control over Financial Reporting
and on Compliance and Other Matters Based on an Audit of Financial Statements
Performed in Accordance with Government Auditing Standards
We have audited the financial statements of the governmental activities and each major fluid of the
Redevelopment Agency of the City of Huntington Beach (Agency), a component unit of the City of
Huntington Beach, California, as of and for the year ended September 30, 2010, which collectively
comprise the Agency's basic financial statements and have issued our report thereon dated March 28,
2011_ We conducted our audit in accordance with auditing standards generally accepted in the United
States of America and the standards applicable to financial audits contained in Government Auditing
Standards,issued by the Comptroller General of the United States.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered the Agency's internal control over financial
reporting as a basis for designing our auditing procedures for the purpose of expressing our opinions on
the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the
Agency's internal control over financial reporting. Accordingly, we do not express an opinion on the
effectiveness of the Agency's internal control over financial reporting.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent, or
detect and correct misstatements on a timely basis.A material weakness is a deficiency,or a combination
of deficiencies, in internal control such that there is a reasonable possibility that a material misstatement
of the entity's financial statements will not be prevented,or detected and corrected on a timely basis_
Our consideration of internal control over financial reporting was for the limited purpose described in the
first paragraph of this section and was not designed to identify all deficiencies in internal control over
financial reporting that might be deficiencies,significant deficiencies, or material weaknesses.We did not
identify any deficiencies in internal control over financial reporting that we consider to be material
weaknesses,as defined above.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Agency's basic financial statements are free
of material misstatement, we performed tests of its compliance with certain provisions of laws,
regulations,contracts, and grant agreements, noncompliance with which could have a direct and material
effect on the determination of financial statement amounts_ Such provisions include those provisions of
laws and regulations identified in the Guidelines for Compliance Audits of California Redevelopment
3000 5 Str:-mot 2121 N.California 81vd. 565 14th Saeet 515 S.Figueroa Street 2029 Century Para;East 1201 Dove Street 225 Hroad—y
sure:sW Smite 750 5t}Ff— S,ite 325 Suite 5W Suite 68;i Suite 175D
$pC-Omento "VA"ut UcA Oakland ios Angeles Fos Angeles Ne,+g rt Beads San Diego
CA 95P I6 CA 95^196 CA 94612 CA 90071 CA+9OU67 CA 92660 CA 921D1
H -1 0 - Item 4. - 57
Agencies issued by the California State Controller's Office, Division of Accounting and Reporting.
However,providing an opinion on compliance with those provisions was not an objective of our audit,
and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of
noncompliance or other matters that are required to be reported under Government Auditing Standards.
This report is intended solely for the information of the Board of Directors and management of the
Agency and the State Controller's Office,Division of Accounting and Reporting and is not intended to be
and should not be used by anyone other than these specified parties.
ra;� � 0
Certified Public Accountants
Newport Beach,California
March 28,2011
Item 4. - 58 HB -1 1 0- 52
• City of Huntington Beach
2000 MAIN STREET CALIFORNIA 92648
7141536-5582 www.hbbiz.cnm fax 714/536-5087
DEPARTMENT OF ECONOMIC DEVELOPMENT
Redevelopment-- Real Estate- Housing
March 29,2011
State Controller's Office
Division of Accounting and Reporting
Local Government Reporting Section
3301 C Street, Suite 700
Sacramento, CA 95816
Dear State Controller:
Enclosed are the following reports as requested by your office:
1. The California State Controller's Financial Report cover form for Community
Redevelopment Agencies and Additional Reports for State Controller-Blight
Progress, the Loan Report, and Property Report.
2. California's Housing Community Development's (HCD)signature form for Fiscal
Year Ended September 30, 2010(report filed electronically with HCD, March 29,
2011).
3. Bureau of Census survey form.
4. Annual Financial Report (Audited)-Redevelopment Agency of the City of
Huntington Beach for the Year Ending September 30, 2010 (2 copies)
5. Statement of Indebtedness for the 2010/2011 Tax Year (debt as of June 30, 2010).
If you have questions regarding the enclosed reports,please make contact via the phone
numbers listed in the reports.
Sincerely,
r � /
Stanley Smale ' z
Deputy Executive Director
HB -1 1 1- Item 4. - 59
CITY OF HUNTINGTON BEACH
a: . INTERDEPARTMENTAL COMMUNICATION
- ECONOMIC DEVELOPMENT DEPARTMENT
TO: Honorable Mayor and City Council/ Redevelopment Agency Members
VIA: Fred A. Wilson, City Manager
FROM: Stanley Smalewitz, Economic Development Director
DATE: March 29, 2011
SUBJECT: SUBMISSION OF 2011 STATE CONTROLLER REPORT FOR FY
2009110 REDEVELOPMENT ACTIVITIES
Attached is the Annual Report reflecting Agency activities for the Fiscal Year 2009/10,
as provided by Health and Safety Code Section 33080.1, which requires that the
Annual Report be submitted to its legislative body and the State Controller within six
months following the end of the Agency's fiscal year-end date (or, by March 31st in the
case of Huntington Beach).
The Annual Report will be presented at the April 18, 2011 City Council. The Annual
Report includes the 2009/10 Component Unit Financial Report (CUFR); State Controller
Report (SCO); Housing and Community Development (HCD) Report; Blight Progress
Report; Loan Report; and Property Report.
If you have any question regarding any information in the Annual Report please contact
me at extension 5909.
Item 4. - 60 HB -1 12-
REDEVELOPMENT AGENCIES
FINANCIAL TRANSACTIONS REPORT
COVER PAGE
Redevelopment Agency Of The City Of Huntington Beach
Fiscal Year: 2011 ID Number: 13983037600
Submitted b
DE -y Exea tip Director of the
Signature Tit e-- 7
Stanley araleAt2 Ngrch 29, 2011
Name(Please Print) Date
Per Health and Safety Code section 33080,this ieport is due within six:months after the end of the fiscal year.The report is to
include two(2)copies of the agencys component unit audited financial statements,and the report on the Status and Use of
the Low and Moderate Income Housing Fund(HCD report)_ To meet the filing requirements,all portions must be received by
the California State Controllers Office.
To file electronically: To file a paper report:
1.Complete all forms as necessary. 1.Complete all forms as necessary.
2.Transmit the completed output file using a File 2.Sign this cover page,and mail complete report to either
Transfer Protocol(FTP)program or via diskette. address below with 2 audits and the HCD report.
3.Sign this cover page and mail to either address
below with 2 audits and the HCD report.
Report will not be considered filed until receipt of this
signed cover page.
Mailing Address: Express Mailing Address:
State Controllers Office State Controller's Office
Division of Accounting and Reporting Division of Accounting and Reporting
Local Government Reporting Section Local Government Reporting Section
B. O. Box 942850 3301 C Street, Suite 700
Sacramento, CA 94250 Sacramento, CA 95816
N -1 1 3- Item 4. - 61
State Controller's Office
Division of Accounting and Reporting
Fax Number: (916)327-3162
2010-11 Redevelopment Reporting Information Order Form
Please check the items you want mailed to you.
—J Automated Financial Reporting Program CD(Instructions included on CD)
Redevelopment Paper Reporting Forms(including U.S.Bureau of Census form)
Redevelopment Paper Reporting Instructions
Statement of Indebtedness Reporting Forms
Statement of Indebtedness Instructions
Name of redevelopment agency and person requesting the information:
Redevelopment Agency ID Number: 13983037600
Redevelopment Agency: Redevelopment Agency of the City of Huntington Beach
Mailing Address: 2000 Main Street
City, State,Zip Code: Huntington Beach,CA 92648-2702
Telephone Number: ( 714 ) 536-5506
Contact Person: Janet Lockhart
E-mail Address: Lockhart@surfcity-hb.org
Mail or fax order form to: State Controller's Office
Division of Accounting and Reporting
Redevelopment/Special District Reporting Section-Redevelopment Unit
P.O.Box 942850
Sacramento,CA 94250
Fax: (916)327-3162
Please call(916)445-5153 if you have any questions regarding this form.
Item 4. - 62 H -114-
Supplement to the Annual Deport of Community Redevelopment Agencies
Redevelopment Agency ID Number: 13983037600
Name of Redevelopment Agency: Redevelopment Agency of the
City of Huntington Beach
Mark the appropriate box below to indicate the ending date of your agency's fiscal year.Report
data for that period only.
X September 2010 !— December 2410 r June 2011
Return this form to the California State Controller's Office. If you have any questions
regarding this form please contact:
U.S Bureau of the Census, Shannon Doyle, l-800-242-4523
A.Personnel Expenditures
Report your government's total expenditures for salaries and wages during the year,including
amounts paid on force account construction projects.
Z00 S 1,516.562
B.Mortgage Revenue Bond Interest Payments
Report your government's total amount of interest paid on mortgage revenue bonds during the
year.
iJ20 S
U.S Bureau of the Census—Revised 612010
H -115- Item 4. - 63
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92648-2702 92660-2825
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Fiscal Year011
Indicate Only Those Achievements Completed During the Fiscal Year of this Report as a Direct Result
of the Activities of the Redevelopment Agency.
Please provide a description of the agency's Square Footage Completed
activities/accomplishments during the past Enter the amount of square
year. footage completed this year by
(Please be specific, as this information will building type and segregated by Now Rehabilitated
be the basis for possible inclusion in the new or rehabilitated construction. Construction
publication.) L z
a , CommerciaiBuildings �— 143,471�
The Redevelopment Agency of the City of Huntington Beach continued to Industrial Buildings -- 0�
implement the projects that were described in the Implementation Plans and the i Public Buildings 2,276
Ten Year Housing Compliance Plan,namely;
Other Buildings 1,714
HUNTINGTON BEACH PROJECT(MERGED AREA)
• The Strand Total Square Footage 147,461 i 0
• Pacific City Enter the Number of Jobs Created 400
• Downtown Specific Plan(DTSP)/Downtown Parking master Plan(DTMP) from the Activities of the Agency
Hyatt Huntington Beach Resort and Spa
• Waterfront Hilton-Resort Expansion Types Completed JACDE
k
• Bella Terra I
• Bella Terra it A=Utilities B=Recreation C=Landscaping D=Sewer/Storm E=Streets/
• Specific and Economic Revitalization Plan for Beach Boulevard and Edinger Roads F=Bus/Transit
Corridor
• Economic Development Strategy
• Merged Project Area Redevelopment Plan Amendment
• Capital Improvements and Facilities
• Surf City Nights
• Huntington Beach Marketing and Visitors Bureau(HBMVB)
• Huntington Beach Automobile Dealers Association, Inc.(Auto Dealers)
SOUTHEAST COASTAL PROJECT
• Posiedon Seawater Desalination Facility
Newland Street Widening
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HOUSING
• Jamboree Housing IV
• Pacific Court Apartments
• 7911 Slater Ave
• First Time Homebuyers Downpayment Assistance Program (DPAP)
• Emerald Cove Senior Apartments
ADDITIONAL REDEVELOPMENT ACTIONS TAKEN DURING FISCAL YEAR
2009-2010
• State of California SERAF
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Fiscal Year -2U11 ----�--�----- —^ —^
Report Prepared from Audited Financial p p —Yes If compliance opinion includes exceptions,
Was the Re
Data,and Did You Submit a Copy of the Audit? state the areas non-compliance,and
describe the agency's efforts to correct.
Indicate Financial Audit Opinion _ Unqualified
if Financial Audit is not yet Completed,What is the
Expected Completion Date?
If the Audit Opinion was Other than Unqualified,State
Briefly the Reason Given
I
Was a Compliance Audit Performed in Accordance with
Health and Safety Code Section 33080.1 and the State
Controller's Guidelines for Compliance Audits,and Did
You Submit a Copy of the Audit?
Indicate Compliance Audit Opinion jUnquallfied
= If Compliance Audit is not yet Completed,What is the
op Expected Completion Date?
CL�
CD
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•� .Y'�9k� } ,fit/� �,�^' i `s3'z akn; ii F - i 3 'N rl n y _t»x rrSs.`5`;k�. ,.�L,. �o:ir a Y "xw.'- a+'''kr" I� ,.k�. - 3y3•rx'?r.'�cs 1 ,.•>,:i,00
e e, e�y� r k trra; ct Q�R�Cr��1� t#y it? F s rfs � r M} ,, iy t " fi b
7" `� ` .: k�[,t�,'•rq� as s 7 rj;,,tur"(6 r7;'.S `✓ �'fr�z' ,.? wj.
cei��Yea> 2011 ��� i P�ojee�t�►x a' ame F� �` ' Consolidated Low and Moderate Income
S°
a y yN $Fi0USl11n Funds
�_......,._._ s '\` 7J
Please Provide a Brief Description of
the Activities for this Project Area
During the Reporting Year, Forwarded from Prior Year?
Enter Code for Type of Project Area Report
pa.. r � .
? ' T.,
P=Standard Project Area Report A=Administrative Fund
1. Jamboree(Housing IV--The L=Low and Moderate Income Housing Fund M=Mortgage Revenue Bond Program
Agency and City of Huntington ! 0=Other Miscellaneous Funds or Programs S=Proposed(Survey)Project Area
Beach assisted Jamboree Housing Does the Plan Include Tax Increment Provisions?
Corporation,an Orange County
based non-profit housing developer i Date Project Area was Established (MM-DD-YY) ---�
and designated CHDO(Community
Housing Development Most Recent Date Project Area was Amended
Organizatlon),'Ao acquire and Did this Amendment Add New Territory?
rehabilitate four apartment buildings
in the Oakview sub-area(Jamboree Most Recent Date Project Area was Merged
Housing 1, II, III & IV). Completion Yes
of the projects.resulted in the Will this Project Area be Carried Forward to Next Year?
preservation and upgrading of 19 Established Time Limit
affordable rental units which will
Z continue to be,made available to Repayment of Indebtedness (Year Only)
low and very-low income families for
60 years. Tho.funding for these Effectiveness of Plan (Year Only) --�
projects has been HUD HOME New Indebtedness (Year Only)
CD Partnership funds and
Redevelopment Housing Set-Aside Size of Project Area in Acres �` -----I
funds;the Housing Set-Aside funds Percentage of Land Vacant at the Inception of the Project Area
also serve as required HOME
"match funds" In an effort to use ; Health and Safety Code Section 33320:1 (xx,x%)
available housing funds efficiently, Percentage of Land Developed at the Inception of the Project Area
in 2009,the City substituted a
portion of Housing Set Aside funds Health and Safety Code Section 33320,1 (xx,x%)
with newly awarded HOME funds on the Jamboree IV project. The Objectives of the Project Area as Set Forth in the Project Area Plan
' :
project was completed in the spring (Enter the Appropriate Code(s)in Sequence as Shown)
R=Residential I = Industrial C =Commercial P=Public 0=Other
� � 2".`�.�•hCejt'n0`",,W,,'tWS,�dSgrS�➢�,A�r6'�',dsrj�;.*e�'.S'.�n.c m:SS"s" � .e.4."'•�y 5 Pk9� vS'a s��^i e � j-di. .i�a�i'�'�. `t p s��t.:-n��'r �• ��"`,�e � '"g ^d '�'re�,€'°w�.„.: ` "ar .F x �'«,•� x Lit ..f`i,
t
'• .,..,..M.4:.,:,,..,,. w;....,,:..4; ,:r.,...:,l.o., .; ,�.., ,';.., r,a�,.'`;�.....`:i.,..t..«�r�a&..t3::..�'kaa.tf,?x"�,�:,,, ,,. ...�... s� ��;;.i.w6��««�,i',:C°����?i�.,��,t ..,...� .�"?a'«t���`� k •.,,.,a t»..a.C�,t°Ea...
Huntington Beach Redevelopment Project )
Area No 1
y
Please Provide a Brief Description of
the Activities for this Project Area ,•t;
During the Reporting Year,
Forwarded from Prior Year
�
Enter Code for Type of Project Area Report
...�..a.~11IM2MMIMM III
�>�:`� P=Standard Project Area Report A=Administrative Fund
L=Low and Moderate Income Housing Fund M=Mortgage Revenue Bond Program
1, The Strand is a mixed-use
project developed by CIM Group on 0=Other Miscellaneous Funds or Programs S=Proposed(Survey)Project Area
an underutilized 3-acre site in the ! Does the Plan Include Tax Increment Provisions? Yes
downtown area that officially opened
in May 2009,The California Date Project Area was Established (MM-DD.YY) 9/20/1982
Redevelopment Association has
recently awarded the ! Most Recent Date Project Area was Amended �i_�-7/1512002
Redevelopment Agency of the City Did this Amendment Add New Territory? No
of Huntington Beach the 2010 ? �
Award of Excellence for a mixed- i Most Recent Date Project Area was Merged
use project. Development of The
Strand was assisted in 2009 with a i Will this Project Area be Carried Forward to Next Year? Yes
Sixth Implementation Agreement. ! Established Time Limit
Through this Agreement the Agency
upgraded the hotel from a"limited- Repayment of Indebtedness (Year Only) 2035
service hotel"to the boutique hotel,
to adjust for recent changes in the i Effectiveness of Plan (Year Only) 2026
economy and;attracting a largeri New Indebtedness (Year Only) 2036
base of visitor's,creating additional
jobs,and ensuring long-lasting, high Size of Project Area in Acres �— 619
quality standards for the hotel E Percentage of Land Vacant at the Inception of the Project Area 5.0
component of!the project. The hotel upgrade was provided a one-time Health and Safety Code Section 33320.9 (xx.x%)
l
$2.4 million payment that modified ; Percentage of Land Developed at the Inception of the Project Area 95.0
the financial terms offered by the t Health and Safe Code Section 3 ,1 xx.x%
Agency to enhance the y 3320 ( )
sustainability of the project area as Objectives of the Project Area as Set Forth in the Project Area Plan RCPO
a whole.Also in 2009,the City and j
Agency allowed a transfer of its i (Enter the Appropriate Code(s)in Sequence as Shown)
.w F........E.t-.TM.e.:...C!M.�.n.el,/.f.L.4R.A..J.]S',\..Q...An,.........;
R=Residential I =Industrial C=Commercial P=Public 0=Other
(D
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CY)
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3
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�a , uaG��'� s .' v z ........ . . .:. .. �^
ptd�e�£�r �Mame �, �, Southeast Coastal Redevelopment Project
lie i� a r w i i MR ��x Ede
5 SEEMS
Mom. 4n, k _ _...
Please Provide a Brief Description of
the Activities for this Project Area
During the Reporting Year. Forwarded from Prior Year?
Enter Code for Type of Project Area Report P
P=Standard Project Area Report A=Administrative Fund
1, Seawater desalination Facility L=Low and Moderate Income Housing Fund M=Mortgage Revenue Bond Program
The Redevelopment Agency 0 =Other Miscellaneous Funds or Programs S =Proposed(Survey)Project Area
originally approved an Owner Participation Agreement(OPA)in goes the Plan Include Tax Increment Provisions? FYes
February 27,2006,with Poseidon Date Project Area was Established (MM-DD-YY) 6/17/2002
Resources Corporation to provide
for the development of a seawater Most Recent pate Project Area was Amended
desalination plant on property i Did this Amendment Add New Territory?
leased from the AES Corporation.
On September,20,2010 the Agency Most Recent Date Project Area was Merged
entered into an Amended and Yes
Restated Owner Participation Will this Project Area be Carried Forward to Next Year?
Agreement that among other things Established Time Limit
sets the minimum assessed value
_ at$200,000,000, The City and ' Repayment of Indebtedness (Year Only) 2047
Poseidon Resources also signed an
00
Exchange Agreement/Lease ! Effectiveness of Plan (Year Only) 2032
—f Agreement forl,separate properties New Indebtedness (Year Only) 2022
that AES and the City own adjacent
to the site proposed for the Size of Project Area in Acres 172
seawater desalination project. The Percentage of Land Vacant at the Inception of the Project Area
proposed proposed changes to the project are
currently under review by the Health and Safety Code Section 33320.1 (xx.x%)
Coastal Commission.2. The Newland Street Widening Percentage of Land Developed at the Inception of the Project Area 85,8
Project--The Project include the Health and Safety Code Section 33320,1 (xx.x%)
widening of Newland Street from I Objectives of the Project Area as Set Forth in the Project Area Plan �� RICPO
Pacific Coast Highway to Hamilton
Avenue,widening of the reinforced (Enter the Appropriate Code(s)in Sequence as Shown)
-.-.-.n..n�A..�.Inn}.J.�.w....�}..Mh.�...1._I......r.A:++...An.r...,.....w,�3
R=Residential I=Industrial C=Commercial P=Public 0=Other
r"t- ,;'7c'`ta ��a k y ? A P '„� ,��� , f p:�I,:i .t4,Y�'".1111,1111t,
r"°,�.��s .^ su, �. ;'z ya}`,,:Fr ks F`.. F "�,`"TS•'A" ' <:
P r9Qt3 r epQ d � x s "� T, w ey gryp,
*� �,k } 4 8 }..�j'Ys ,�: .;�-y" kr�i,' 5, d J!r'F '` 3Vh.H 'SS��,o- ?(11TO,'�.-�.x F� , »M`ii�S'`n
�" 2011 Consolidated Low and Moderate
z � %Income Housing Funds
Please Provide a Brief Description of the Activities for this Project Area During the Reporting Year.
1. Jamboree Housing IV—The Agency and City of Huntington Beach assisted Jamboree Housing Corporation,an
Orange County based non-profit housing developer and designated CHDO(Community Housing Development
Organization),to acquire and rehabilitate four apartment buildings in the Oakview sub-area(Jamboree Housing 1,11,111
&IV). Completion of the projects resulted in the preservation and upgrading of 19 affordable rental units which will ;
continue to be made available to low and very-low income families for 60 years. The funding for these projects has
been HUD HOME Partnership funds and Redevelopment Housing Set-Aside funds;the Housing Set-Aside funds also
serve as required HOME"match funds".In an effort to use available housing funds efficiently,in 2009,the City
substituted a portion of Housing Set Aside funds with newly awarded HOME funds on the Jamboree IV project. The
project was completed in the spring of 2010. Jamboree will provide on-site management and tenant services for the
tenants they serve.
2. Pacific Court Apartments—In 2008 the Agency expended$7 million in Housing Set-Aside funds and$500,000 in
HOME funds to assist developers,Orange Housing Development Corporation and C and C Development,to acquire
and rehabilitate the 48 apartment units located at 2200 Delaware Avenue. The project,now known as Pacific Court,
provides affordable housing for 48 very-low and low income households and was completed in April 2010. The interior
courtyard and greenbelt areas within the complex will provide an area for barbeques or other family activities,and a
playground where children can play together. Pacific Court is conveniently located directly across from the Boys and
Girls Club which offers youth services and programs to children who live in Huntington Beach.This complex had
ner1y been deemed uninhabitable by Code Enforcement,City Attorneys Office,and the courts.
7911 Slater-As of April 2010,the City has partnered with Colette's Children Home,using$390,568 in NSP funds
and$284,432 in HOME funds,for the purposes of acquiring a vacant lot located at 7911 Slater Avenue in the Oakview
redevelopment sub-area.Colette's will construct a six-unit affordable housing development on the site.This lot is
adjacent to 17432-17442 Keelson Lane which the City assisted Colette's with the funding of the acquisition and
rehabilitation of a ten-unit affordable housing complex.Managing these two sites will enable Colette's to realize
management and cost efficiencies
4. City of Huntington Beach First-Time Homebuyers Down Payment Assistance Program(DPAP)-In May of 2009,the
Agency approved the appropriation of$1,050,000 Housing Set-Aside funds to set up,utilize,and maintain a DPAP
revolving loan fund to provide down payment assistance loans. In 2010,an additional$500,000 was appropriated to
assist applicants to be eligible for up to$100,000 down payment assistance to moderate-income households
purchasing their first affordable home in the City. Under the DPAP guidelines,families working and living in the City
will be shown priority as to loan consideration. The Agency is working with Affordable Clearinghouse to administer the
DPAP Program. In fiscal year 2009-2010,a total of$689,010 in down payment assistance funds have been approved
allowing nine(9)moderate-income families to purchase an affordable home. Eight(8)more buyers are expected to be I
approved during 2011.
5. Emerald Cove—Emerald Cove is located at 18191 Parktree Circle and consists of 164 senior apartment units
(studios and one bedrooms). Bids from affordable housing non-profits were received and reviewed to acquire and
completely rehabilitate the units in conformity with local,state and federal laws,rules and regulations. Subsequently,
rental of the units(with the exception of two managers'units)will be to very low income and low income senior citizen
households at affordable rents for a period of not less than 60 years. Jamboree Housing was awarded the project and
Affordable Housing Agreement and the Regulatory Agreement were approved by City Council in September 21,2009.
Rehabilitation of the units began July 2010 with a completion scheduled for December 2010. The Community Room j
will be completed in spring of 2011.
Additional Redevelopment Actions Taken During Fiscal Year 2009/2010
State of California SERAF-The FY 2009/10 State budget included plans to take revenue from redevelopment agencies
in FY 2009/10 and FY 2011.A total of$4.4 million was budgeted in the Merged Project Area Debt Service Fund
$1,760,000,and Housing Set Aside Fund$2,640,000 to fund this revenue take.
HB -123- Item 4. - 71
- f
�Huntington�Beach Redevelopment h
it W
I, Project Area No. 1
.
Please Provide a Brief Description of the Activities for this Project Area During the Reporting Year.
1. The Strand is a mixed-use project developed by CIM Group on an underutilized 3-acre site in the downtown area
that officially opened in May 2009.The California Redevelopment Association has recently awarded the
Redevelopment Agency of the City of Huntington Beach the 2010 Award of Excellence for a mixed-use project.
Development of The Strand was assisted in 2009 with a Sixth Implementation Agreement.Through this Agreement the
Agency upgraded the hotel from a"limited-service hotel"to the boutique hotel,to adjust for recent changes in the
economy and attracting a larger base of visitors,creating additional jobs,and ensuring long-lasting,high quality
standards for the hotel component of the project. The hotel upgrade was provided a one-time$2.4 million payment that
modified the financial terms offered by the Agency to enhance the sustainability of the project area as a whole.Also in
2009,the City and Agency allowed a transfer of its interest in The Strand/CIM DDA to a collateralized property portfolio
loan containing six properties,aggregately valued at$145 million. This action allowed CIM access to the funding it
needed to effectively lease The Strand project site The Strand offers approximately 110,000 square feet of retail,
restaurant,and office space within four distinct buildings,laced with open-air pedestrian walkways and public art. The
Shorebreak Hotel,located within The Strand,offers 157 luxury rooms and Zimzala,an authentic coastal Mediterranean
restaurant. The Strand also provides ample public parking which is available for customers,employees,Shorebreak
Hotel guests and the general public.The Strand retail tenants include Crocs,Forever 21,G by Guess,Skechers,CVS,
Active Ride,Rip Curl,Marilee's Swimwear,and Angl. Dining options include Johnny Rockets,RA Sushi,Zimzala,
Sertino's Coffee,and Lil Red's Cupcakeries. Innocean Worldwide,an intemational marketing firm with over 125
employees and currently occupy all the office space.Most importantly,The Strand development has generated more
than 400 job positions in the retail,hotel,office and restaurant industries-
2. Pacific City is on a 31 acre site at Pacific Coast Highway and First Street. A Community Facilities District(CFD)is
proposed to fund the majority of the offsite public improvements such as street enhancements. The residential village,
totaling 17.2 acres,will act as the cornerstone of Pacific City. There will be 516 residential housing units built in four
phases,ranging in sizes from 969 square feet to 2,500 square feet.This residential community will encompass a
191,000 square feet retail center featuring luxurious retail brands,prime office space,dining and entertainment
complete with 1,406 parking spaces for patrons. The Agency has continued to work with the developer and the
developers capital partners to both maintain and improve the existing site and to construct the project. New pedestrian
pathways/sidewalks medians and landscaping were installed surrounding the site.Pacific City is scheduled to open in
late 2015. A 250 room boutique hotel is expected to open in 2016.
3. The Downtown Specific Plan(DTSP)and Downtown Parking Master Plan(DPMP)were approved by the City
Council in January 2010 and are awaiting California Coastal Commission review and approval. The plan will assist in
the redevelopment of blighted,vacant and/or underutilized parcels in the downtown area.The DTSP will assist in the
creation of a unique and identifiable downtown area that capitalizes on the unique location and features of the City's
beachside downtown. The goal is to create an economically vibrant,pedestrian-oriented destination for residents and
visitors alike.The DTSP is an update is part of a City-wide effort to ensure that planning regulations and guidelines
provide direction with flexibility to accommodate both current and future development opportunities in the downtown
area.
4. The Hyatt Huntington Beach Resort and Spa,a 517-room resort,offers ocean-front spa and conference facilities.
The Hyatt opened for business on January 19,2003. The Developers Advance Loan Balance is estimated at
$6,251,240 as of December 2010. The project also pays lease payments to the Agency on an annual basis.
5. The Waterfront Hilton has submitted plans as of December 2009 to construct an expansion of the Waterfront Hilton
on Parcel C,which is located between the Waterfront Hilton and Hyatt Hotel sites.Like the Hyatt project,the Waterfront
Hilton project also pays lease payments to the Agency on an annual basis. The hotel paid its second Participation
Payment to the Agency in 2008. A Third Implementation Agreement to the Disposition and Development Agreement
(DDA)was negotiated between the Redevelopment Agency and Mayer Financial,L.P.in October 2008. The Third
Implementation Agreement relates to the time frame for development of the northerly adjacent"Parcel C",where the
expansion of the Waterfront Hilton with additional conference facilities is being proposed. Each extension of the
Agreement by the Hyatt triggers a payment of$250,000 from Mayer Financial to the City to compensate for an
estimated loss of Transient Occupancy Tax(TOT)that the City would have received with a timely development of the
newly proposed hotel rooms on Parcel C. In addition on October 18 2010,the Redevelopment Agency approved a
Fourth Implementation Agreement_
6. Bella Terra 1,formerly a vacant outdated 56.5-acre retail property known as Huntington Center,was transformed
into an entertainment/life style center. With the approval of the Second Implementation Agreement on September 17,
2007,the Agency commenced payment of its obligation of$15 million to the developer. The balance of these
Item 4. - 72 H -124-
Fs
2011 Huntington Beach Redevelopment
n
Project Area INo.1
obligations is$14,076,368 as of September 30,2010. The approximate 1,532 space public parking garage,funded by
the Community Facilities District 2003-1(Huntington Center),opened on October 1,2005. In 2010,Whole Foods
Market opened a new store at Bella Terra I.
7. Bella Terra II was initiated when DJM Capital Associates,LLC(DJM)purchased the former Montgomery Wards
13.5 acre portion of the Bella Terra site,a parcel left vacant for over ten years.DJM has amended the Bella Terra
specific plan and the environmental impact report to allow for construction of a mixed use project. The mixed-use
development will include 467 residential units;approximately 13,500 square feet of residential amenities,including a
clubhouse,fitness center,leasing area,and lobby areas;approximately 700-space residential parking garage;and I
155,000 square feet of retail.An Affordable Housing Agreement between the developer and the Agency was approved
in 2010 to guarantee that Affordable Housing was provided in the project,including 28 very-low income units.,
mandating fifteen percent of the dwelling units be designated as affordable. DJM will break ground on the project in
December 2010.
8. The Beach and Edinger Corridors Specific Plan was approved by the City Council on March 1,2010 and adopted by
the City on April 16,2010.The Beach and Edinger Corridors Specific Plan is established to orchestrate private and `>
public investment activities along the Beach Boulevard and Edinger Avenue corridors,and to support and promote i
investment that will enhance the property value,create jobs and housing opportunities of these,the City's primary {
commercial corridors.This Specific Plan presents the community's vision for the evolution and continued growth of the
two corridors,and it establishes the primary means of regulating land use and development within the Specific Plan
Area.Finally,the Plan contains a program of planned actions and investments that the community intends to
implement to stimulate and complement private investment along the corridors.Since adopting the Specific Plan,the
City has witnessed much development interest along the Beach and Edinger Corridors.
9. Economic Development Strategy-Linda S.Congleton&Associates has been retained to prepare an Economic
welopment Strategic Plan for the City of Huntington Beach.The primary goal is to provide practical strategies that j
in be implemented by the City's Management Team,while also updating the City's Economic Development Element 1
of the General Plan,which has not been updated since 1996.The Strategic Plan will be completed by late 2010.
10. The Agency contracted with Rosenow Spevacek Group(RSG)in November 2009 to perform all duties in
conjunction with preparing an amendment to the existing redevelopment plan for the Merged Project Area. The
amendment was to include commercial and selected industrial sites only. An initial blight analysis had been completed
in early 2009 by GRC,Inc.and this constituted the second phase. During the fiscal year 2009-2010,RSG prepared
their analysis of all commercial sites in the City and gathered all data necessary from the City,Agency and other
sources to verify the existence of both physical and economic blight in the proposed added area. A resolution was
prepared to designate the study area,which was approved by the Council and Redevelopment Agency in the following
fiscal year. However,the project is on hold at this time pending the outcome of any legislation or vote pertaining to the
use of redevelopment agency funds and expansion of project areas.
11_ Capital Improvements/Facilities-The following projects were listed in the 09/10 Approved CIP budget and have
been completed: Civic Center seismic retrofit(matched with FEMA funds)($7,000,000),downtown bollard/pedestrian
safety project($170,000),downtown energy efficient street lighting replacement($1,000,000),beach blufftop ;
restrooms,replacing temporary port-apotties($2,400,000),and permanent buildings on the pier(replacing cargo bins)
($490,000). Additionally,improvements were made to four city fire stations which included Fire Station 5-Lake,Fire
Station 2-Murdy,Fire Station 1-Gothard,and Fire Station 4-Magnolia: Most of the fire station improvements included
structural stabilization,renovations for ADA and gender accommodations,and various other improvements($278,000).
12. Surf City Nights is a weekly street fair/farmer's market takes place from 5-9 p.m.on Tuesday nights on the first
three blocks of downtown Main Street between Pacific Coast Highway and Orange Avenue.Surf City Nights began as
a three month trial street closure of Main Street and developed into a weekly,year-round event,now in its fourth year of
operation.In 2010,Surf City Nights became a certified farmer's market The event is maintained by the Huntington
Beach Downtown Business Improvement District. Due to the success of the event,residents and visitors now regularly
take an evening stroll and dine at local restaurants on Tuesday nights. The street fair/farmer's market includes live
entertainment,children's activities,retail sales,food,arts and crafts. In 2009,the Agency approved the design and
procurement of portable bollards for the closure of the downtown area to provide more efficient,economical,and
aesthetic pedestrian safety and emergency access to the downtown area during Surf City Nights. In 2010,a contract
for construction of the bollards was awarded and completed_
13. Huntington Beach Marketing and Visitors Bureau(HBMVB)promotes the City as a destination to attract and retain i
jobs. The HBMVB requested that the Agency provide a loan in the amount of$50,000 to help fund a strategic {
marketing plan aimed at promoting the City of Huntington Beach,including more up to date printed,electronic,and
social marketing tools to draw additional vacationers and meeting and convention groups to the City. The interest
aring loan will be repaid to the City over the next five years_The HBMVB started repayment of the loan in 2010.
Huntington Beach Automobile Dealers Association,Inc.(Auto Dealers)—In 2009,the economically pressed Auto
HB -12 - Item 4. - 73
3hi
3,
04
.2011 a M.. Huntington Beach Redevelopment
: s - Project Area No. 1
Dealers(comprised of ten dealerships)requested loan assistance from the Agency to pay for continued operation of an
electronic reader board strategically located at the entrance to the Beach and Edinger Corridor. When approving the
five-year loan in the amount of$226,893,the Agency also provided a grant to the Auto Dealers in the amount of i
$30,304 to provide needed capital repairs to the reader board. The reader board has functioned as a vital tool in
directing customers to the dealerships located along Beach Boulevard and provides a venue for advertising community
services and special events. The Auto Dealers began repayment of the five year loan in April 2010 and repairs to the
reader board were completed in May 2010. ,
Item 4. - 74 HB -126-
"Southeast Coastal Redevelopment
w° Project
to
Please Provide a Brief Description of the Activities for this Project Area During the Reporting Year.
1. Seawater Desalination Facility—The Redevelopment Agency originally approved an Owner Participation
Agreement(OPA)in February 27,2006,with Poseidon Resources Corporation to provide for the development of a i
seawater desalination plant on property leased from the AES Corporation. On September 20,2010 the Agency
entered into an Amended and Restated Owner Participation Agreement that among other things sets the minimum
assessed value at$200,000,000. The City and Poseidon Resources also signed an Exchange Agreement/Lease i
Agreement for separate properties that AES and the City own adjacent to the site proposed for the seawater '
desalination project. The proposed changes to the project are currently under review by the Coastal Commission.
2. The Newland Street Widening Project—The Project include the widening of Newland Street from Pacific Coast
Highway to Hamilton Avenue,widening of the reinforced concrete bridge at the Huntington Channel,installation of
storm drain improvements in Newland Street,and raising the profile of Newland Street to improve traffic visibility. The
Project was included in the Capital Improvement Program(CIP)budget and was completed in November 2009. The
completion of the project improved traffic safety and circulation adjacent within the project area.
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Fiscal Year 2011
Project Area Name Huntington Beach Redevelopment Project Area
No. 1
Frozen Base Assessed Valuation 157,252,877
Increment Assessed Valuation 1,1488 4,556
Total Assessed Valuation 1,905,807,433
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Fiscal Year 2011
Project Area Name Southeast Coastal Redevelopment Project 1
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Frozen Base Assessed Valuation 103,733,755
Increment Assessed Valuation 4,663,537
Total Assessed Valuation 108,397,279
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Fiscal Year 12011 ---j
Project Area Name Huntington Beach Redevelopment Project Area No. 1
Tax Increment Pass Through Detail Other Payments
Amounts Paid To H &S Code H &S Code H&S Code Total H&S Code H&S Code
Taxing Agencies Section 33401 Section 33676 Section 33607 Section 33445 Section 33445.5
County 445,192 $445,192
Cities 330,047 $330,047
School Districts 1,229,164 $1,229,164
Community College District 278,221 � $278,221
Special Districts 79,516 $79,516
= Total Paid to Taxing $0 $2,362,140 $0 $2,362,14 1 $017-7-77-77771
Agencies
Net Amount:to Agency ' $15,779,461 ;
' Gross Tax Increment MENEM= t ; 18,141,601
Generated
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Fiscal Year 12011
Project Area Name (Southeast Coastal Redevelopment Project
Tax Increment Pass Through Detail Other Payments
Amounts Paid To H&S Code H&S Code H&S Code Total H&S Code H&S Code
Taxing Agencies Section 33401 Section 33676 Section 33607 Section 33445 Section 33445.5
County
Cities 1,797 $1,797
School Districts 6,247 $6,247
Community College District 1,271 $1,271
Special Districts 429 $429
Total Paid to Taxing $0 $0 $10,725 $10 725 $0 $0
Agencies
C Net Amount to Agency I� �I�',�1' �� a � __ $33,969J
Gross Tax Increment i �— 44,694
Generated
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Project Area Name
Tax Allocation;Bond Debt
Revenue Bonds
Other Long Term Debt
City/County Debt ��
Low and Moderate Income Housing Fund
Other
Total 17 -7 $0
Available Revenues
Net Tax Increment Requirements _ $0
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Fiscal Year I, t
Project Area Name
Tax Allocation Bond Debt 30,397, 112 7
Revenue Bonds
Other Long Term Debt 6,504,5721
City/County Debt 114,608,997
Low and Moderate Income Housing Fund 41,000,1 66
Other �- 5,676,7 44
Total $196,188,331
Available Revehues 13,195,800
Net Tax Increment Requirements $184,992,531 l
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Fiscal Year :2011
Project Area Name
Tax Allocation Bond Debt
Revenue Bonds
Other Long Term Debt
City/County Debt 7,379,146
Low and Moderate Income Housing Fund 1,844,787
Other
Total $9,223,933
Available Revenues 1,416,245
Net Tax Increment Requirements 1�'`'$7,807,688 i
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Agency Long-Term Debt
Fiscal Year 12011 1
Project Area Name Huntington Beach Redevelopment Project Area No. 1
Forward from Prior Year �}jj���,�j�iME"t `,
Bond Type City/County Debt
Year of Authorization �� 1982
Principal Amount Authorized 104,501,018
Principal Amount Issued 104,501,018
Purpose of Issue Project Funding
Maturity Date Beginning Year 2034
Maturity.Date Ending Year 2034
Principal Amount Unmatured Beginning of Fiscal Year r $88,597,000
Adjustment Made During Year -4,866,000
Adjustment E>planation Reclassed$4,866,000 debt to Low Inch
Hsg
Interest Added to Principal 2,881,000
i
Principal Amount Issued During Fiscal Year
IT7 Principal Amount Matured During Fiscal Year 5,523,000
F
Principal Amount Defeased During Fiscal Year
Principal Amount Unmatured End of Fiscal Year $81,089,000
Principal Amount In Default
Interest In Default
1
Bond Types klowed:
Tax Allocation)Bonds; Revenue Bonds;Certificates of Participation;Tax Allocation Notes;Financing Authority Bonds;City/County Debt;
US;State;Loajt Lease Obligations; Notes; Deferred Pass-Throughs;Deferred Compensation;Other
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-p Fiscal Year 12011
Project Area Name lHuntington Beach Redevelopment Project Area No. 1
Forward from Prior Year
Bond Type Deferred Compensation
Year of Authorization 2003
Principal Amount Authorized 143,000
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Principal Amount Issued ��143,000
Purpose of Issue Compensated Absences
Maturity Date Beginning Year r�--2003
Maturity Date finding Year 20341
Principal Amount Unmatured Beginning of Fiscal Year $907,000
Adjustment Mode During Year C_
Adjustment Explanation �—
Interest Added,to Principal
Principal Amount Issued During Fiscal Year 22,000
= Principal Amount Matured During Fiscal Year
� Principal Amount Defeased During Fiscal Year
Principal Amount Unmatured End of Fiscal Year $129OOO ii
Principal Amount In Default
Interest In Defduit ---�
Bond Types Allowed:
Tax Allocation Bonds;Revenue Bonds;Certificates of Participation;Tax Allocation Notes; Financing Authority Bonds;City/County Debt;
US;State;Loans;Lease Obligations;Notes;Deferred Pass-Throughs;Deferred Compensation;Other
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Fiscal Year 2011
Project Area Name lHuntinaton Beach Redevelopment Proiect Area No. 1
Forward from Prior Year SEEMSM
Bond Type Loans
Year of Authorization 20079
Principal Amount Authorized �— 950,000]
Principal Amount Issued ��— 950,000
Purpose of Issue Additional Strand Parking Structure
Maturity Date Beginning Year 20 99
Maturity Date Ending Year 2034
Principal Amount Unmatured Beginning of Fiscal Year $421 000 '
Adjustment Made During Year
Adjustment E>Iplanation
Interest Added to Principal 19,000
Principal Amount Issued During Fiscal Year
Z Principal Amount Matured During Fiscal Year --��
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3 Principal Amount Defeased During Fiscal Year
Principal Amount Unmatured End of Fiscal Year $440,000
Principal Amount In Default F
Interest In Default �—
Bond Types Allowed:
Tax Allocation'Bonds:Revenue Bonds;Certificates of Participation;Tax Allocation Notes;Financing Authority Bonds;Clty/County Debt;
US;State; Loans;Lease Obligations; Notes; Deferred Pass-Throughs; Deferred Compensation;Other
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Cy) Fiscal Year; 12011
Project Area Flame Huntington Beach Redevelopment Proiect Area No. 1
Forward from Prior Year NUMMEW
Bond Type Loans
Year of Authorization �— 2009
Principal Amount Authorized 7,900,
000
Principal Amount Issued 7,900,000
Purpose of Issue Strand Parking Structure&Infrastructure
Maturity Date Beginning Year I._. 2009
Maturity Date Ending Year �— 2034
Principal Amount Unmatured Beginning of Fiscal Year $7,768,000 1
Adjustment Made During Year
Adjustment Explanation
Interest Added to Principal —�
Principal Amount Issued During Fiscal Year —�
Principal Amount Matured During Fiscal Year 324,000
Principal Amount Defeased During Fiscal Year —�
00 Principal Amount Unmatured End of Fiscal Year $7,444,000
Principal Amount In Default
interest In Defajult �
Bond Types Allowed,.
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Tax Allocation Bonds;Revenue Bonds;Certificates of Participation;Tax Allocation Notes;Financing Authority Bonds;City/County Debt;
US;State;Loans;Lease Obligations;Notes; Deferred Pass-Throughs;Deferred Compensation;Other
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Agency Long-Term Debt
Fiscal Year 2011
Project Area Name Huntington Beach Redevelopment Project Area No. 1 _
Forward from Prior Year
Bond Type Other
Year of Authorization 19872
Principal Amount Authorized 35,000,000
Principal Amount Issued �� 35,000,000
Purpose of Issue Other
Maturity Date Beginning Year �^ 2034
Maturity Date l5nding Year 2034
Principal Amount Unmatured Beginning of Fiscal Year $7,003,000
Adjustment Made During Year
Adjustment Explanation
Interest Added;,to Principal
Principal Amount Issued During Fiscal Year
S Principal Amount Matured During Fiscal Year -350,000
W
Principal Amount Defeased During Fiscal Year
Principal Amount Unmatured End of Fiscal Year $6,653,000 j
Principal Amount In Default
Interest In Default —^�
Bond Types Allowed:
Tax AllocationiBonds; Revenue Bonds;Certificates of Participation;Tax Allocation Notes; Financing Authority Bonds;City/County Debt;
US;State; Loans;Lease Obligations;Notes; Deferred Pass-Throughs;Deferred Compensation;Other
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00 Fiscal Year 2011
Project Area Name lHuntinaton Beach Redevelopment Project Area No. 1
Forward from Prior Year MENEM
Bond Type Other
Year of Authorization 2006
Principal Amount Authorized 16,03500
Principal Amount Issued 16,030,000
Purpose of Issue JBeIIa Terra Parking
Maturity Date Beginning Year 20079
Maturity Date Ending Year �— 20170
Principal Amount Unmatured Beginning of Fiscal Year $14,227,000
Adjustment Made During Year u'V7
Adjustment Explanation F
Interest Added to Principal
Principal Amount Issued During Fiscal Year —�
Principal Amount Matured During Fiscal Year 151,000
Principal Amount Defeased During Fiscal Year
Principal Amount Unmatured End of Fiscal Year $144076,00� 0
Principal Amount In Default
Interest In Default
Bond Types Allowed:
Tax Allocation Bonds; Revenue Bonds;Certificates of Participation;Tax Allocation Notes;Financing Authority Bonds;City/County Debt;
US;State; Loans; Lease Obligations; Notes; Deferred Pass-Throughs; Deferred Compensation;Other
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Agency Long-Term Debt
Fiscal Year 2011 —�
Project Area Name Huntington Beach Redevelopment Project Area No. 1
Forward from Prior Year
Bond Type JTax Allocation Bonds
Year of Authorization --- 1999
Principal Amount Authorized --10,835,000
Principal Amount Issued 10,835,000
Purpose of Issue Refinance 1992 Loan
Maturity Date Beginning Year 1999
Maturity Date F'nding Year ~� 2025
Principal Amount Unmatured Beginning of Fiscal Year _$7,020,000
Adjustment Made During Year
Adjustment Explanation
Interest Added;to Principal —�
Principal Amount Issued During Fiscal Year
= Principal Amount Matured During Fiscal Year 410,000
03
Principal Amount Defeased During Fiscal Year
Principal Amount Unmatured End of Fiscal Year $6,610,000
Principal Amount In Default ^—�
Interest In Default —��
Bond Types Allowed:
Tax Allocation'Bonds, Revenue Bonds; Certificates of Participation;Tax Allocation Notes;Financing Authority Bonds;City/County Debt;
US;State; LoaZ;lease Obligations; Notes;Deferred Pass-Throughs; Deferred Compensation;Other
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O Fiscal Year
Project Area Name lHuntinaton Beach Redevelopment Project Area No. 1
Forward from Prior Year '
Bond Type Tax Allocation Bonds
Year of Authorization 0072
Principal Amount Authorized 20,900,000
Principal Amount Issued 20,900,000
Purpose of Issue Refinance 1992 PFA Debt
Maturity Date Beginning Year 2002
Maturity Date Ending Year 2024
Principal Amount Unmatured Beginning of Fiscal Year $15,380,000
Adjustment Made During Year -
Adjustment Explanation
Interest Added to Principal
Principal Amount Issued During Fiscal Year — �
Principal Amount Matured During Fiscal Year910,000
Principal Amount Defeased During Fiscal Year
Principal Amount Unmatured End of Fiscal Year $14,470,000
Principal Amount In Default
Interest In Default —��
Bond Types Ai;lowed:
Tax Allocation Bonds; Revenue Bonds;Certificates of Participation;Tax Allocation Notes;Financing Authority Bonds;City/County Debt;
US;State; Loans; Lease Obligations;Notes; Deferred Pass-Throughs; Deferred Compensation;Other
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Fiscal Year 2011
Project Area Name Huntinsiton Beach Redevelopment Project Area No. 1 _
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Forward from Prior Year
Bond Type US
Year of Authorization 20070
Principal Amount Authorized 6,000,000
Principal Amount Issued 6,000,000
Purpose of Issl:e New Loan
Maturity Date Beginning Year 2000
Maturity Date Ending Year F-^ 2034
Principal Amount Unmatured Beginning of Fiscal Year $3,9555,000 1
Adjustment Made During Year - 7
Adjustment Explanation
Interest Added,,to Principal
Principal Amount Issued During Fiscal Year —�
Z Principal Amount Matured During Fiscal Year 290,000
W
Principal Amount Defeased During Fiscal Year
Principal Amount Unmatured End of Fiscal Year $3,665,000
Principal Amount in Default x
Interest In Default
Bond Types Allowed:
Tax Allocation(Bonds;Revenue Bonds;Certificates of Participation;Tax Allocation Notes;Financing Authority Bonds;City/County Debt;
US;State; Loans;Lease Obligations;Notes; Deferred Pass-Throughs;Deferred Compensation;Other
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N Fiscal Year 2011 C
Project Are la Name Huntington Beach Redevelopment Project Area No 1
Forward from Prior Year �li�'�1S F
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Bond Type Other
Year of Authorisation 2009
Principal Amount Authorized 200,000 7
Principal Amount Issued 200,000
Purpose of Issue lPollution Remediation
Maturity Date Beginning Year �— 2009
Maturity Date Ending Year 0170
Principal Amount Unmatured Beginning of Fiscal Year
U..............
Adjustment Made During Year
Adjustment Explanation
Interest Added to Principal
Principal Amount Issued During Fiscal Year C 200,000
= Principal Amount Matured During Fiscal Year
Principal Amount Defeased During Fiscal Year T�
Principal Amount Unmatured End of Fiscal Year $200,000 ;
Principal Amount In Default
Interest In Default
Bond Types Allowed:
Tax Allocation Ponds;Revenue Bonds;Certificates of Participation;Tax Allocation Notes; Financing Authority Bonds;City/County Debt;
US;State;Loans; Lease Obligations;Notes; Deferred Pass-Throughs;Deferred Compensation;Other
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Agency Long-Term Debt
Fiscal Year 12011
Project Area Name Consolidated Low and Moderate Income Housina Funds
Forward from Prior Year " 1'
Bond Type City/County Debt
Year of Authorization 2009
Principal Amount Authorized 5,171,000
Principal Amount Issued -5,171,000
Purpose of Issue 1project Funding
Maturity Date Beginning Year �i 20 99
Maturity Date finding Year �— 2021
Principal Amount Unmatured Beginning of Fiscal Year
Adjustment Made During Year F 4,866,200
Adjustment Explanation Beg Bal was originally reported under HB
Pro]Area in prior FY.Reclassed to Low
Inc Hsg this FY.
Interest Added to Principal
= Principal Amount Issued During Fiscal Year
W
Principal Amount Matured During Fiscal Year �— 405,000
Principal Amount Defeased During Fiscal Year
71
Principal Amount Unmatured End of Fiscal Year $4,461,000
Principal Amount In Default
Interest In Default
Bond Types Allowed:
Tax Allocation I Bonds;Revenue Bonds;Certificates of Participation;Tax Allocation Notes;Financing Authority Bonds;City/County Debt;
US;State;Loahs;Lease Obligations;Notes; Deferred Pass-Throughs;Deferred Compensation;Other
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Fiscal Year 2011
Project Area Name Huntington Beach Redevelopment Project Area No. 1
Forward from Prior Year
Bond Type IMortgage Revenue Bonds
Year of Authorization 19971 -
Principal Amount Authorized 9,500,000
Principal Amount Issued 9,500,0001
Purpose of Issue IFine Points senior Complex
Maturity Date Beginning Year 1 991
Maturity Date Ending Year �'- 2021
Principal Amount Unmatured Beginning of Fiscal Year 9,500,000
Adjustment Made During Year F -9,500,000
Adjustment Explanation Need to Correct Purpose of Issue
Description
p Principal Amount Issued During Fiscal Year
(3?
Principal Amount Matured During Fiscal Year ---�
Principal Amount Defeased During Fiscal Year —il
Principal Amount Unmatured End of Fiscal Year
Principal Amount in Default
Interest in Default
Bond Types Allowed:
Mortgage Revenue; Industrial Development; Commercial Revenue Bond;Certificate of Participation
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v. ,.�xi , n,r.s � ,. �,.,�SS"� _ ✓M.� i�a ��� :..��ar. �.,av s.LD.�r?�,..n �i "..t�.`r���V
Fiscal Year 12011
Project Area Name lHuntington Beach Redevelopment Project Area No. 1
Forward from Prior Year SMEEM
Bond Type Imortgage Revenue Bonds --�
Year of Authorization �— 1991
Principal Amount Authorized �— 9,500,000
Principal Amount Issued �— 9,500,000
Purpose of Issue Five Points Senior Complex
Maturity Date Beginning Year 19971
Maturity Date Ending Year 2021
Principal Amount Unmatured Beginning of Fiscal Year
Adjustment Made During Year 9,500,000
= Adjustment Explanation Re-entered with correct purpose of
W issue description
j Principal Amount Issued During Fiscal Year
Principal Amount Matured During Fiscal Year —�
Principal Amount Defeased During Fiscal Year
Principal Amount Unmatured End of Fiscal Year I $9,500000
Principal Amount In Default —��
Interest in Default --1
Bond Types Allowed:
Mortgage Revenue;Industrial Development;Commercial Revenue Bond;Certificate of Participation
(D 'FNOuLA�rA i��M jj��,3�a��� f.rs `a���s
QSq cY.:S°Pi`�v,�S'..� Z.. .�' 9 '''1"$ '�L�"� htl x
..ae x 7 , z3r.<:5,w r„. � e.. °rd.. .� .,3.9.a
Cn
(D
'' ' y
p3b1S "�
C!�
v�f•,
Fiscal Year Z011
Proiect Area Name Consolidated Low and Moderate Income Housing Funds
Low/Moderate Special
Capital Project Debt Service Income Housing Revenue/Other
Funds Funds Funds Funds Total
Tax Increment Gross -------( �_ _._._.__._.__...__.._.._so
(Include All Apportionments)
Special Supplemental Subvention
Property Assessments —�- _ M»� �$0
Sales and Use Tax
Transient Occupancy Tax
Interest Income 156,647 $156,647 µi
Rental Income _ _ $0
Lease Income 810,818 $810,
Sale of Real Estate $0
f' Gain on Land Held for Resale �$0
00
Federal Grants 1,221,741 $1,221,741_ f
Grants from Other Agencies $_0
Bond Administrative Fees $0 I
Other Revenues 490,646 _ $490646 I
Total Revenues $0_ _$2679�852 $0 $2679852
t'
i
IN
si, t r�3 t f
PI"��? ..rls3..: "v9 -s'e r.:sra:.. ".`..o: �'.'!?3:'",. ..v.s. _._ .." ', .. +.,n::�nw:n�,r!....i.,f;.! inti•ax.n.. . ,...mn vi('4i.a' M.a.,:.
s
Fiscal Year 2011
Project Area Name lHuntington Beach Redevelopment Project Area No. 1
Low/Moderate Special
Capital Project Debt Service Income Housing Revenue/Other
Funds Funds Funds Funds Total
Tax Increment Gross 18,141,601 $18,141,601
(Include All Apportionments)
Special Supplemental Subvention $0
Property Assessments $0 j
Sales and Use Tax _ $0_{
Transient Occupancy Tax $OWf
Interest Income 48,305 152,840 $201,145
Rental Income $�
Lease Income 677,598 $677,598
Sale of Real Estate $0
.41 Gain on Land Held for Resale $0_j
c�a
Federal Grants $0
Grants from Other Agencies $0
Bond Administrative Fees $_0 j
Other Revenues 1,063,406 $1,063,406
Total Revenues • $1,789,309 $18,294,441 $C $0 $20,083,750
CD
t i
a �
r�F a ti i
W
CD
3
co
CONO III
�-TA. wx .�G ��t3rl
�; .• .0 x�_,.::+ . ..,;.....T :..,.�'V"a „�P� ��...
Fiscal Year 2011
Project Area Name Southeast coastal Redevelopment Project —�
Low/Moderate Special
Capital Project Debt Service Income Housing Revenue/Other
Funds Funds Funds Funds Total
Tax Increment Gross 44,694 ^ F $44,694
(Include All Apportionments)
Special Supplemental Subvention $0 I
Property Assessments $0 i
Sales and Use Tax $0-
Transient Occupancy Tax $0.1
Interest Income 15,077 $1Tw 5 077
Rental Income $0 j
Lease Income $0
_ Sale of Real Estate $0
Gain on Land Held for Resale $0
C3
Federal Grants _ _ $0 f
Grants from Other Agencies _ y $0
Bond Administrative Fees $0_�
Other Revenues $0
Total Revenues _$0 __ $59,771 _. $0 _ w $0 $59,771
i ,'til Y a S far s— •8 ;a^,^'a- %f k�FG. S "'Fti "r1 �_ _ Ile i4ai�� k i d t r {� 1oe �� �,
j l49Y . zGi' �v.fi ar0}!,p �A ` PiTr' .n Y� 'trclil�. a +r .IM
� tl "may *�y+ '�,'N 1'�# dry' �µ. ! a r
EN $ I'L11 ��J�?'w�," f�.h ) tef3 �f'y7
as..._h.h,fr..�.1k4w4t`,
Fiscal Year 12011
Project Area Name Consolidated Low and Moderate Income Housing Funds
Capital Project Debt Service Low/Moderate Special
Funds Funds Income Housing Revenue/Other Total
Administration Costs 706,640 $706,640
Professional Services �— 144,339 _ $144,339„1„
Planning,Survey,and Design $0 _
Real Estate Purchases 4,166,063 1177 $4,166,06�3 j
Acquisition Expense
Operation of Acquired Property
Relocation Costs _ $.,0
Relocation Payments
Site Clearance Costs $0
Project Improvement/Construction Cost 1,503,791 $1,503,791
Disposal Costs $0
Loss on Disposition of Land Held for _ ,„__,.., $0
Resale
of:L aif.x,:�xx z tm '� � ;:ud x - .s r
NIPS' ttkfh tfn�ST�`b %+fie p,, � .,.Y !., kt,C rr?F� �I �•� h''k,i.
�'"'G �Msky, i tit' r`.Y rcxe RW U'a?k r.�,. ar., ', �
.'i�u''41 x i'S n '..vNi ,�se
0n01'1r��:�-,t'e..s�...:,��tl�,4���i..tls...,.,,....x^ .>. ���.,,a
.. �.r..n„ ..,,... .-
SCHEDULE HCD E1
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only:Actual Obligation is based on Implementation Plan)
Report Year: 2010/2011
Agency: HUNTINGTON BEACH
Project Area: HUNTINGTON BCH REDEV PRJCT(MRGED)
Project: 17442 KOLEDO LANE JAMBOREE IV
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation units
from forms HCD-D7 which are developed in a project area by any entity (agency or non-agency).
PART
[H&SC Section 33413(b)(1)]
AGENCY DEVELOPED
1. New Units 0
2. Substantially Rehabilitated Units 0
3. Subtotal-Baseline of Units (add line 1 & 2) 0
4. Subtotal of Inclusiona Obligation Accrued this Year for Units line 3 x 30% 0
5. Subtotal of Inclusionary Obligation Accrued this year for Very-Low Income Units(line 4 x 50%) 0
PART II
[H&SC Section 33413(b)(2)]
NON-AGENCY DEVELOPED UNITS
6. New Units 0
7. Substantially Rehabilitated Units 0
8. Subtotal-Baseline of Units(add lines 6 &7) 0
9. Subtotal of Inclusionary Obligation Accrued this year for Units(line 8 x 15%) 0
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Units (line 9 x 40%) 0
PART III
TOTALS
11.Total Increase in Inclusionary Obligations During This Fiscal Year(add line 4&9) I 0
12.Total Increase in Very Low Income Units Inclusionary Obligations During This Fiscal Year(add line 5& 10) 0
California Redevelopment Agencies-Fiscal Year 2010/2011 03/24/2011
Schedule E(11/01)
'Totals may be impacted by rounding
Page 4 of 18
Item 4. - 150 H -202-
SCHEDULE HCD E1
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only:Actual Obligation is based on Implementation Plan)
Report Year: 2010/2011
Agency: HUNTINGTON BEACH
Project Area: HUNTINGTON BCH REDEV PRJCT(MRGED)
Project: ASH STREET CONDOS
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation units
from forms HCD-D7 which are developed in a project area by any entity (agency or non-agency).
PART
[H&SC Section 33413(b)(1)]
AGENCY DEVELOPED
1. New Units 0
2. Substantially Rehabilitated Units 0
3. Subtotal-Baseline of Units(add line 1 &2) 0
4. Subtotal of Inclusiona Obligation Accrued this Year for Units line 3 x 30% 0
5. Subtotal of Inclusionary Obligation Accrued this year for Very-Low Income Units(line 4 x 50%) 0
PART II
[H&SC Section 33413(b)(2)]
NON AGENCY DEVELOPED UNITS
New Units 0
Substantially Rehabilitated Units 0
8. Subtotal-Baseline of Units(add lines 6&7) 0
9. Subtotal of Inclusionary Obligation Accrued this year for Units(line 8 x 15%) 0
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Units (line 9 x 40%) 0
PART III
TOTALS
11.Total Increase in Inclusionary Obligations During This Fiscal Year(add line 4&9) 0
12.Total Increase in Very Low Income Units Inclusionary Obligations During This Fiscal Year(add line 5& 10) 0
California Redevelopment Agencies-Fiscal Year 2010/2011 03/24/2011
Schedule E(11101)
'Totals may be impacted by rounding
Page 5 of 18
HB -20 - Item 4. - 151
SCHEDULE HCD E1
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only:Actual Obligation is based on Implementation Plan)
Report Year: 2010/2011
Agency: HUNTINGTON BEACH
Project Area: HUNTINGTON BCH REDEV PRJCT(MRGED)
Project: BOWEN COURT SENIOR APARTMENTS
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation units
from forms HCD-D7 which are developed in a project area by any entity (agency or non-agency).
PART I
[H&SC Section 33413(b)(1)]
AGENCY DEVELOPED
1. New Units 0
2. Substantially Rehabilitated Units 0
3. Subtotal-Baseline of Units(add line 1 &2) 0
4. Subtotal of Inclusionary Obligation Accrued this Year for Units line 3 x 30% 0
5. Subtotal of Inclusionary Obligation Accrued this year for Very-Low Income Units (line 4 x 50%) 0
PART II
[H&SC Section 33413(b)(2)]
NON-AGENCY DEVELOPED UNITS
6. New Units 0
7. Substantially Rehabilitated Units 0
8. Subtotal-Baseline of Units(add lines 6&7) 0
9. Subtotal of Inclusionary Obligation Accrued this year for Units (line 8 x 15%) 0
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Units (line 9 x 40%) 0
PART III
TOTALS
11.Total Increase in Inclusionary Obligations During This Fiscal Year(add line 4&9) I 0
12.Total Increase in Very Low Income Units Inclusionary Obligations During This Fiscal Year(add line 5& 10) 0
California Redevelopment Agencies-Fiscal Year 2010/2011 03/24/2011
Schedule E(11/01)
'Totals may be impacted by rounding
Page 6 of 18
Item 4. - 152 H -20 -
SCHEDULE HCD E1
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only:Actual Obligation is based on Implementation Plan)
Report Year: 2010/2011
Agency: HUNTINGTON BEACH
Project Area: HUNTINGTON BCH REDEV PRJCT (MRGED)
Project: COLETTE'S 17432-17442 KEELSON LANE
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation units
from forms HCD-D7 which are developed in a project area by any entity(agency or non-agency).
PART
[H&SC Section 33413(b)(1)]
AGENCY DEVELOPED
1. New Units 0
2. Substantially Rehabilitated Units 0
3. Subtotal-Baseline of Units (add line 1 &2) 0
4. Subtotal of Inclusionary Obligation Accrued this Year for Units Qine 3 x 30% 0
5. Subtotal of Inclusionary Obligation Accrued this year for Very-Low Income Units (line 4 x 50%) 0
PART Il
[H&SC Section 33413(b)(2)]
NON-AGENCY DEVELOPED UNITS .
New Units 0
Substantially Rehabilitated Units 0
8. Subtotal-Baseline of Units(add lines 6&7) 0
9. Subtotal of Inclusionary Obligation Accrued this year for Units(line 8 x 15%) 0
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Units(line 9 x 40%) 0
PART III
TOTALS
11.Total Increase in Inclusionary Obligations During This Fiscal Year(add line 4&9) f 0
12. Total Increase in Very Low Income Units Inclusionary Obligations During This Fiscal Year(add line 5& 10) 0
California Redevelopment Agencies-Fiscal Year 2010/2011 03/24/2011
Schedule E(11/01)
'Totals may be impacted by rounding
Page 7 of 18
HB -205- Item 4. - 153
SCHEDULE HCD E1
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only:Actual Obligation is based on Implementation Plan)
Report Year: 2010/2011
Agency: HUNTINGTON BEACH
Project Area: HUNTINGTON BCH REDEV PRJCT(MRGED)
Project: COLETTES CHILDRENS HOME 1
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation units
from forms HCD-D7 which are developed in a project area by any entity (agency or non-agency).
PART
[H&SC Section 33413(b)(1)]
AGENCY DEVELOPED
1. New Units 0
2. Substantially Rehabilitated Units 0
3. Subtotal -Baseline of Units(add line 1 &2) 0
4. Subtotal of Inclusionary Obligation Accrued this Year for Units line 3 x 30% 0
5. Subtotal of Inclusionary Obligation Accrued this year for Very-Low Income Units(line 4 x 50%) 0
PART II
[H&SC Section 33413(b)(2)]
NON AGENCY DEVELOPED UNITS
6. New Units 0
7. Substantially Rehabilitated Units 0
8. Subtotal-Baseline of Units(add lines 6 &7) 0
9. Subtotal of Inclusionary Obligation Accrued this year for Units (line 8 x 15%) 0
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Units (line 9 x 40%) 0
PART III
TOTALS
11. Total Increase in Inclusionary Obligations During This Fiscal Year(add line 4 &9) I 0
12. Total Increase in Very Low Income Units Inclusionary Obligations During This Fiscal Year(add line 5& 10) 0
California Redevelopment Agencies-Fiscal Year 2010/2011 03/24/2011
Schedule E(11/01)
'Totals may be impacted by rounding
Page 8 of 18
Item 4. - 154 H -206-
SCHEDULE HCD E1
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only:Actual Obligation is based on Implementation Plan)
Report Year: 2010/2011
Agency: HUNTINGTON BEACH
Project Area: HUNTINGTON BCH REDEV PRJCT(MRGED)
Project: COLETTES CHILDRENS HOME 2
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation units
from forms HCD-D7 which are developed in a project area by any entity (agency or non-agency).
PART
[H&SC Section 33413(b)(1)1
AGENCY DEVELOPED
1. New Units 0
2. Substantially Rehabilitated Units 0
3. Subtotal-Baseline of Units(add line 1 &2) 0
4. Subtotal of Inclusionary Obli ation Accrued this Year for Units line 3 x 30% 0
5. Subtotal of Inclusionary Obligation Accrued this year for Very-Low Income Units(line 4 x 50%) 0
PART 11
[H&SC Section 33413(b)(2)j
NON AGENCY DEVELOPED UNITS
New Units 0
Substantially Rehabilitated Units 0
8. Subtotal-Baseline of Units (add lines 6&7) 0
9. Subtotal of Inclusionary Obligation Accrued this year for Units(line 8 x 15%) 0
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Units (line 9 x 40%) 0
PART III
TOTALS
11.Total Increase in Inclusionary Obligations During This Fiscal Year(add line 4&9) 0
12.Total Increase in Very Low Income Units Inclusionary Obligations During This Fiscal Year(add line 5& 10) 0
California Redevelopment Agencies-Fiscal Year 2010/2011 03/24/2011
Schedule E(11101)
'Totals may be impacted by rounding
Page 9 of 18
€ B -207- Item 4. - 155
SCHEDULE HCD E1
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only:Actual Obligation is based on Implementation Plan)
Report Year: 2010/2011
Agency: HUNTINGTON BEACH
Project Area: HUNTINGTON BCH REDEV PRJCT(MRGED)
Project: EMERALD COVE SENIOR HOUSING
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation units
from forms HCD-D7 which are developed in a project area by any entity (agency or non-agency).
PART
[H&SC Section 33413(b)(1)]
AGENCY DEVELOPED
1. New Units 0
2. Substantially Rehabilitated Units 164
3. Subtotal -Baseline of Units(add line 1 &2) 164
4. Subtotal of Inclusionary Obligation Accrued this Year for Units line 3 x 30% 49
5. Subtotal of Inclusionary Obligation Accrued this year for Very-Low Income Units (line 4 x 50%) 25
PART 11
[H&SC Section 33413(b)(2)]
NON-AGENCY DEVELOPED UNITS
6. New Units 0
7. Substantially Rehabilitated Units 0
8. Subtotal-Baseline of Units(add lines 6&7) 0
9. Subtotal of Inclusionary Obligation Accrued this year for Units (line 8 x 15%) 0
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Units (line 9 x 40%) 0
PART III
TOTALS
11.Total Increase in Inclusionary Obligations During This Fiscal Year(add line 4 &9) ( 49
12. Total Increase in Very Low Income Units Inclusionary Obligations During This Fiscal Year(add line 5& 10) 25
California Redevelopment Agencies-Fiscal Year 2010/2011 Q3/24/2011
Schedule E(11/01)
'Totals may be impacted by rounding
Page 10 of 18
Item 4. - 156 H -208-
SCHEDULE HCD E1
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only:Actual Obligation is based on Implementation Plan)
Report Year: 2010/2011
Agency: HUNTINGTON BEACH
Project Area: HUNTINGTON BCH REDEV PRJCT(MRGED)
Project: INTERVAL HOUSE TRANSITIONAL HOUSING
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation units
from forms HCD-D7 which are developed in a project area by any entity (agency or non-agency).
PART I
[H&SC Section 33413(b)(1)]
AGENCY DEVELOPED
1. New Units 0
2. Substantially Rehabilitated Units 0
3. Subtotal-Baseline of Units(add line 1 &2) 0
4. Subtotal of Inclusiona Obligation Accrued this Year for Units line 3 x 30% 0
5. Subtotal of Inclusionary Obligation Accrued this year for Very-Low Income Units (line 4 x 50%) 0
PART 11
[H&SC Section 33413(b)(2)]
NON-AGENCY DEVELOPED UNITS
New Units 0
Substantially Rehabilitated Units 0
8. Subtotal -Baseline of Units(add lines 6&7) 0
9. Subtotal of Inclusionary Obligation Accrued this year for Units(line 8 x 15%) 0
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Units (line 9 x 40%) 0
PART III
TOTALS
11.Total Increase in Inclusionary Obligations During This Fiscal Year(add line 4&9) 0
12.Total Increase in Very Low Income Units Inclusionary Obligations During This Fiscal Year(add line 5& 10) 0
California Redevelopment Agencies-Fiscal Year 2010/2011 03/24/2011
Schedule E(11/01)
*Totals may be impacted by rounding
Pagel 1 of 18
H -209- Item 4. - 157
SCHEDULE HCD E1
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only:Actual Obligation is based on Implementation Plan)
Report Year: 2010/2011
Agency: HUNTINGTON BEACH
Project Area: HUNTINGTON BCH REDEV PRJCT(MRGED)
Project: OCCHC-KOLEDO 2
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation units
from forms HCD-D7 which are developed in a project area by any entity (agency or non-agency).
PART
[H&SC Section 33413(b)(1)]
AGENCY DEVELOPED
1. New Units 0
2. Substantially Rehabilitated Units 0
3. Subtotal -Baseline of Units (add line 1 &2) 0
4. Subtotal of Inclusiona Obli ation Accrued this Year for Units line 3 x 30% 0
5. Subtotal of Inclusionary Obligation Accrued this year for Very-Low Income Units(line 4 x 50%) 0
PART II
[H&SC Section 33413(b)(2)]
NON-AGENCY DEVELOPED UNITS
6. New Units 0
7. Substantially Rehabilitated Units 0
8. Subtotal -Baseline of Units (add lines 6&7) 0
9. Subtotal of Inclusionary Obligation Accrued this year for Units(line 8 x 15%) 0
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Units (line 9 x 40%) 0
PART III
TOTALS
11.Total Increase in Inclusionary Obligations During This Fiscal Year(add line 4&9) 0
12.Total Increase in Very Low Income Units Inclusionary Obligations During This Fiscal Year(add line 5& 10) 0
California Redevelopment Agencies-Fiscal Year 2010/2011 03/24/2011
Schedule E(11/01)
"Totals may be impacted by rounding
Page 12 of 18
Item 4. - 158 H -210-
SCHEDULE HCD E1
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only:Actual Obligation is based on Implementation Plan)
Report Year: 2010/2011
Agency: HUNTINGTON BEACH
Project Area: HUNTINGTON BCH REDEV PRJCT(MRGED)
Project: OCCHC-KOLEDO 3
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation units
from forms HCD-D7 which are developed in a project area by any entity (agency or non-agency).
PART
[H&SC Section 33413(b)(1)]
AGENCY DEVELOPED
1. New Units 0
2. Substantially Rehabilitated Units 0
3. Subtotal-Baseline of Units (add line 1 &2) 0
4. Subtotal of Inclusionary Obligation Accrued this Year for Units line 3 x 30% 0
5. Subtotal of Inclusionary Obligation Accrued this year for Very-Low Income Units(line 4 x 50%) 0
PART II
[H&SC Section 33413(b)(2)]
NON AGENCY DEVELOPED UNITS
New Units 0
Substantially Rehabilitated Units 0
8. Subtotal -Baseline of Units (add lines 6&7) 0
9. Subtotal of Inclusionary Obligation Accrued this year for Units(line 8 x 15%) 0
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Units (line 9 x 40%) 0
PART III
TOTALS
11.Total Increase in Inclusionary Obligations During This Fiscal Year(add line 4 &9) 0
12.Total Increase in Very Low Income Units Inclusionary Obligations During This Fiscal Year(add line 5& 10) 0
California Redevelopment Agencies-Fiscal Year 2010/2011 03/24/2011
Schedule E(11/01)
'Totals may be impacted by rounding
Page 13 of 18
H -211- Item 4. - 159
SCHEDULE HCD E1
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only:Actual Obligation is based on Implementation Plan)
Report Year: 2010/2011
Agency: HUNTINGTON BEACH
Project Area: HUNTINGTON BCH REDEV PRJCT(MRGED)
Project: OCCHC-KOLEDO 4
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation units
from forms HCD-D7 which are developed in a project area by any entity (agency or non-agency).
PART
[H&SC Section 33413(b)(1)]
AGENCY DEVELOPED
1. New Units 0
2. Substantially Rehabilitated Units 0
3. Subtotal-Baseline of Units (add line 1 &2) 0
4. Subtotal of Inclusiona Obligation Accrued this Year for Units line 3 x 30% 0
5. Subtotal of Inclusionary Obligation Accrued this year for Very-Low Income Units (line 4 x 50%) 0
PART II
[H&SC Section 33413(b)(2)]
NON-AGENCY DEVELOPED UNITS
6. New Units 0
7. Substantially Rehabilitated Units 0
8. Subtotal-Baseline of Units(add lines 6 &7) 0
9. Subtotal of Inclusionary Obligation Accrued this year for Units(line 8 x 15%) 0
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Units (line 9 x 40%) 0
PART III
TOTALS
11.Total Increase in Inclusionary Obligations During This Fiscal Year(add line 4 &9) 0
12. Total Increase in Very Low Income Units Inclusionary Obligations During This Fiscal Year(add line 5& 10) 0
California Redevelopment Agencies-Fiscal Year 2010/2011 03/24/2011
Schedule E(11/01)
'Totals may be impacted by rounding
Page 14of18
Item 4. - 160 HB -212-
SCHEDULE HCD E1
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only:Actual Obligation is based on Implementation Plan)
Report Year: 2010/2011
Agency: HUNTINGTON BEACH
Project Area: HUNTINGTON BCH REDEV PRJCT(MRGED)
Project: OCCHC-KOLEDO 5
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation units
from forms HCD-D7 which are developed in a project area by any entity (agency or non-agency).
PART
[H&SC Section 33413(b)(1)]
AGENCY DEVELOPED
1. New Units 0
2. Substantially Rehabilitated Units 0
3. Subtotal-Baseline of Units (add line 1 &2) 0
4. Subtotal of Inclusionary Obligation Accrued this Year for Units line 3 x 30% 0
5. Subtotal of Inclusionary Obligation Accrued this year for Very-Low Income Units(line 4 x 50%) 0
PART 11
[H&SC Section 33413(b)(2)]
NON-AGENCY DEVELOPED UNITS
- New Units 0
Substantially Rehabilitated Units 0
8. Subtotal-Baseline of Units (add lines 6&7) 0
9. Subtotal of Inclusionary Obligation Accrued this year for Units(line 8 x 15%) 0
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Units (line 9 x 40%) 0
PART III
TOTALS
11.Total Increase in Inclusionary Obligations During This Fiscal Year(add line 4&9) 0
12.Total Increase in Very Low Income Units Inclusionary Obligations During This Fiscal Year(add line 5& 10) 0
California Redevelopment Agencies-Fiscal Year 2010/2011 03/24/2011
Schedule E(11101)
'Totals may be impacted by rounding
Page 15 of 18
HB -213- Item 4. - 161
SCHEDULE HCD E1
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only:Actual Obligation is based on Implementation Plan)
Report Year: 2010/2011
Agency: HUNTINGTON BEACH
Project Area: HUNTINGTON BCH REDEV PRJCT(MRGED)
Project: PLAZA ALMERIA
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation units
from forms HCD-D7 which are developed in a project area by any entity (agency or non-agency).
PART
[H&SC Section 33413(b)(1)]
AGENCY DEVELOPED
1. New Units 0
2. Substantially Rehabilitated Units 0
3. Subtotal-Baseline of Units(add line 1 &2) 0
4. Subtotal of Inciusiona Obligation Accrued this Year for Units line 3 x 30% 0
5. Subtotal of Inclusionary Obligation Accrued this year for Very-Low Income Units (line 4 x 50%) 0
PART II
[H&SC Section 33413(b)(2)]
NON-AGENCY DEVELOPED UNITS
6. New Units 0
7. Substantially Rehabilitated Units 0
8. Subtotal - Baseline of Units(add lines 6&7) 0
9. Subtotal of Inclusionary Obligation Accrued this year for Units(line 8 x 15%) 0
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Units (line 9 x 40%) 0
PART III
TOTALS
11.Total Increase in Inclusionary Obligations During This Fiscal Year(add line 4&9) 0
12.Total Increase in Very Low Income Units Inclusionary Obligations During This Fiscal Year(add line 5& 10) 0
California Redevelopment Agencies-Fiscal Year 2010/2011 03/24/2011
Schedule E(11/01)
'Totals may be impacted by rounding
Page 16 of 18
Item 4. - 162 H -21 -
SCHEDULE HCD E1
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only:Actual Obligation is based on Implementation Plan)
Report Year: 2010/2011
Agency: HUNTINGTON BEACH
Project Area: HUNTINGTON BCH REDEV PRJCT(MRGED)
Project: SHELTER FOR THE HOMELESS-BARTON 2
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation units
from forms HCD-D7 which are developed in a project area by any entity (agency or non-agency).
PART
[H&SC Section 33413(b)(1)]
AGENCY DEVELOPED
1. New Units 0
2. Substantially Rehabilitated Units 0
3. Subtotal-Baseline of Units(add line 1 &2) 0
4. Subtotal of Inclusionary Obligation Accrued this Year for Units line 3 x 30% 0
5. Subtotal of Inclusionary Obligation Accrued this year for Very-Low Income Units (line 4 x 50%) 0
PART 11
[H&SC Section 33413(b)(2)]
NON-AGENCY DEVELOPED UNITS
New Units 0
Substantially Rehabilitated Units 0
8. Subtotal-Baseline of Units(add lines 6&7) 0
9. Subtotal of Inclusionary Obligation Accrued this year for Units(line 8 x 15%) 0
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Units (line 9 x 40%) 0
PART III
TOTALS
11.Total Increase in Inclusionary Obligations During This Fiscal Year(add line 4&9) 0
12.Total Increase in Very Low Income Units Inclusionary Obligations During This Fiscal Year(add line 5& 10) 0
California Redevelopment Agencies-Fiscal Year 2010/2011 03/24/2011
Schedule E(11/01)
"Totals may be impacted by rounding
Page 17 of 18
HB -215- Item 4. - 163
SCHEDULE HCD E1
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only:Actual Obligation is based on Implementation Plan)
Report Year: 2010/2011
Agency: HUNTINGTON BEACH
Project Area: HUNTINGTON BCH REDEV PRJCT(MRGED)
Project: VARIOUS NON-RESTRICTED OWNER DEVELOPMENT
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation units
from forms HCD-D7 which are developed in a project area by any entity (agency or non-agency).
PART
[H&SC Section 33413(b)(1)]
AGENCY DEVELOPED
1. New Units 0
2. Substantially Rehabilitated Units 0
3. Subtotal-Baseline of Units (add line 1 &2) 0
4. Subtotal of Inclusiona Obligation Accrued this Year for Units line 3 x 30% 0
5. Subtotal of Inclusionary Obligation Accrued this year for Very-Low Income Units (line 4 x 50%) 0
PART II
[H&SC Section 33413(b)(2)]
NON-AGENCY DEVELOPED UNITS
6. New Units 1
7. Substantially Rehabilitated Units 0
8. Subtotal-Baseline of Units (add lines 6&7) 1
9. Subtotal of Inclusionary Obligation Accrued this year for Units(line 8 x 15%) 0
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Units (line 9 x 40%) 0
PART III
TOTALS
11. Total Increase in Inclusionary Obligations During This Fiscal Year(add line 4&9) I 0
12.Total Increase in Very Low Income Units Inclusionary Obligations During This Fiscal Year(add line 5& 10) 0
California Redevelopment Agencies-Fiscal Year 2010/2011 03/24/2011
Schedule E(11101)
'Totals may be impacted by rounding
Page 18 of 18
Item 4. - 164 H -216-
s
CITY OF HUNTINGTON BEACII
Finance Department
Bob Wingenroth, Finance Director
August 5,2010
Property Tax Supervisor
County of Orange
Auditor Controller
P.O. Box 567
Santa Ana, CA 92702-0567
Statements of Indebtedness for Tax Year 2010-11
®ear Sir/Madam:
Enclosed are the indebtedness statements for the Redevelopment Agency of the City of
Huntington Beach as of June 30, 2010.
If you need additional information, please call me at (714)536-5506.
Sincerely,
Janet Lockhart
Senior Administrative Analyst
Enclosures
2000 Main Street, California 92648-2702* Phone 714-536-5630+ Fax 7I4-374-5365 o www-surfcity-hb.org
H -217- Item 4. - 165
(D
3
STATEMENT OF INDEBTEDNESS - CONSOLIDATED
FILED FOR THE 2010-11 TAX YEAR
d) REDEVELOPMENT AGENCY FOR THE CITY OF HUNTINGTON BEACH
MERGED PROJECT AREA
Current
Balance Carried Forward From: Total Principallinterest
Line Oustanding Debt Due During Tax Year
Fiscal Period•Totals From Form A Totals 1 198,188,330 8,122,794
(Optional)
r Post Fiscal Period.Totals From Form B Totals 2
Grand
Totals 3 198,188 330 8,122 794
Available Revenues
From Calculation of Available Revenues, Line 7 4 $13,195,800
Net
Requirement 5 184,992,530
Consolidate on this form all of the data contained on Form A and B(including supplemental pages).Form A Is to Include
all Indebtedness entered Into as of June 30 of the Fiscal Year, Form B maybe tiled at the optlon of the agency,and is to
Include Indebtedness entered Into post June 30 of the Fiscal Year,pursuant to Health and Safety Code Section 33675(c)(2).
s This Is optional for each agency and Is not a requirement for filing the Statement of Indebtedness.The Reconciliation
Statement Is to Include Indebtedness form Form A only.
00
Certification of Chief Financial Officer:
Pursuant to Section 33675(b)of the Health and Safety Code. Bob Wingenroth Finance Director
I hereby certify that the above is a true and accurate Statement Name Title
of indebtedness for the above named agency.
Signature Date
i
REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
MERGED PROJECT AREA
TAX YEAR 2010-11
RECONCILIATION DATES:JULY 1,2009 TO JUNE 30,2010
1.Beginning Balance,Available Revenues $9,967,669
(See Instructions)
2.Tax Increment Revenues-Gross 18,314,062
All Tax Increment Revenues,to include any Tax Increment
passed through to other local taxing agencies.
3.All other Available Revenues Received $102,038
(See Instructions)
4.Revenues from any other source,included $0
in Column E of the Reconciliation
Statement,but not included in(1-3)above
5.Sum of Lines 1 through 4 $28,383,769
6.Total amounts paid against indebtedness 15,187,969
in previous year.(D+E on Reconciliation Statement)
7.Available Revenues,End of Year(5-6) $13,195,800
FORWARD THIS AMOUNT TO STATEMENT OF INDEBTEDNESS,
COVER PAGE,LINE 4
NOTES
Tax Increment Revenues:
The only amount(s)to be excluded as Tax Increment Revenue are any amounts passed through to other local
taxing agencies pursuant to Health and Safety Code Section 33676.Tax Increment Revenue set-aside in the Love
and Moderate Income Housing Fund will be washed in the above calculation, and therefore omitted from Available
Revenues at year end_
Item 4.above:
This represents my payments form any source other than tax Increment OR available revenues.For instance,
an agency funds a project with a bond issue.The previous SOI included a Disposition Development Agreement
(DDA)which was fully satisfied with these bond proceeds.The DDA would be shown on the Reconciliation
Statement as fully repaid under the"other"column(Col E),but with funds that were neither tax Increment,nor
"Available Revenues"as defined.The amounts used to satisfy this DDA would be included on line 4 above in order
to accurately determine ending"Available Revenues."
HB -21 - Item 4. - 167
STATEMENT OF INDEBTEDNESS a FISCAL YEAR INDEBTEDNESS
3 FILED FOR THE 2010.2011 TAX YEAR Form A
.p Page 1 of 3
THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
MERGED PROJECT AREA
c3�
Do
For Indebtedness Entered Into as of June 30,2010
Original Data Current
Interest Total Total Principal/Interest
Debt Indentification Date Principal Term Rate Interest Outstanding Debt Due During Tax Year
A General Fund Advance 1985/86 2,015,086 5,60% 1,374,040 869,910
B General Fund Advance 1986/87 751,988 5.60% 689,341 468,507
C General Fund Advance 1987/88 4,093,298 5.60% 3,808,532 1,772,819
D General Fund Advance 1988/89 1 4,033,406 5,60% 4,842,639 2,850,282
E General Fund Advance 1989/90 1,759,835 5.60% 1,609,141 717,608
F General Fund Advance 1990/91 4,867,001 5.60% 5,534 534 2,158,887
G General Fund Advance 1991/92 698,250 5.60% 725,888 322,543
00
M General Fund Advance 1992/93 250,116 5.60% 192,030 109 328
I General Fund Advance 1993/94 113,656 5,60% 99,710 88,774
..,.,., .J General Fund Advance 1994/95 3,088,374 5.60% 3,128,914 112,371
K Water Fund Advance 1986/87 138,000 5.60% 389,242 523,182
(L) Water Fund Advance 11987188 1,000,000 5.60% 2,580,764 1 3,347,583
Total
This Page 13,341,794
Purpose of Indebtedness;
(A) General and Administrative (G) General and Administrative
(B) General and Administrative (H) General and Administrative
(C) General and Administrative (1) General and Administrative
(D) General and Administrative (J) General!and Administrative
(E) General and Administrative (K) Construction of Water Improvements
(F) General and Administrative (L) Construction of Water Improvements
STATEMENT OF INDEBTED" 'S - FISCAL YEAR INDEBTEDNESS
FILED FOR THE 2u10.2011 TAX YEAR Form A
Page 2 of 3
THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
MERGED PROJECT AREA
For Indebtedness Entered Into as of June 30,2010
Original Data Current
Interest Total Total Prinelpal/interest
Debt Indentification Date Principal Term Rate Interest Outstandina Debt Due During Tax Year
A
="`jr1 Draina a Fund Advance 1987/88 250,000 5,60% 627,705 624,517
1.
C General Fund Blufftop Advance 1987/88 50,000 5,60% 95,133 21,586
D Land Sales 1983/84 405,536 5.60% 450,985 793,745
E Land Sales 1987/88 1,228,381 5.60% 1,584,636 2,404,278
F Land Sales 1988/89 29,002,000 5,60% 28,486,592 50,631,726
G Land Sales 1989/90 2,267,000 5.60% 2,392,951 3,942,085
Z
H Land Sales 1991/92 3,064,730 1 5,60% 3,006,238 4,441,424
Sewer Fund Advance 1989/90 175,000 5.60% 344,144 259,136
Low Income Housing Loan
IC Pro a Acquisition 1994/95 j1,362,600 5.60% 1,362,500
(L) General Fund Advance 1995/96 59,414 1 5.60% 9421726 839,770
Total
This Page 65,320,767
Purpose of Indebtedness:
_ (A) Street Improvements (G) Land Sold by City to Agency
(D (B) Drainage Improvements H Land Sold b Cityto Agency
C Bluffta Park Purchase ( ) -- Y
� ( } p (►) Sewer Improvements
(D) Land Sold by City to Agency W)
(E) Land Sold by City to Agency (IC)_Property Aquisition
(F) Land Sold by City to Agency (L) General and Administrative
Q0
CD STATEMENT OF INDEBTEDNESS ® FISCAL YEAR INDEBTEDNESS
FILED FOR THE 2010.2011 TAX YEAR Form A
Page 3 of 3
THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
MERGED PROJECT AREA
CD
For Indebtedness Entered into as of June 30,2010
Original Data Current
Interest Total Total Principal/Interest
Debt Indentification Date Princl al Term Rate Interest Outstanding Debt Due During Tax Year
A Land Sale Emerald Cove 1988/89 1,740,834 5,60% 2,645,611 5,144,457
..,.r
S Deferred Developer's Fees 1989/90 358,882 5,60% 617,284 714,766
C Mayer Loan 1990/91 4,073,156 437,761 6,504,572 306,175
D Section 108 Loan 2000/01 6,000,000 7.70% 5,443,600 5,676,784 587,531
E 2002 Tax Allocation RefundingBonds 2002/03 20,900,000 11,592,171 20,853.300 1,596,943
F Low& Moderate Income Set-Aside 1992/93 N/A 0 en 39,637,666 3,678,279
G 1999 Tax Allocation RefundingBonds 1998/99 10,835,000 26 Yrs 3-5.05% 7,036.448 9,544,512 731,794
W
rya
H Bella Terra Parkin 2006/07 15,349,567 18 yrs 6.94% 29,410,471 14,227,460 304,573
rQ
PQ
! CIM DDA Parking &Infrastructure 2008/09 7,900,000 25 yrs 1 7.00%1 8,697,450 16,235,367 362,083
CIM DDA-Additional Parkin 2008/09 1 950,000 125 s 10,00% 592,303 986,886 555,417
Sub Total
This Page 119,525,769 8,122,794
Total Forward
From Ail Other Pages 78,662,561
Totals, Is III
Fiscal Year Indebtedness 198,188,330 8,122,794
Purpose of Indebtedness:
(A) Land Sale from the City to Emerald Cove (F) Low&Moderate Income Set-Aside
(5) Deferred Fees-Emerald Cove (G) Defeasence of a portion of the HBFFA Advance
(C) Relocate Mobile Home Park (H) Bella Terra Parking
(D) Federal Loan for CEO Improvements (1) CIM DDA Parking&Infrastructure
(E) Defeasance of a final portion of the HBFFA Advance (J) CIM DDA Additional Parking
RECONCILIATION STATEMENT NGES IN INDEBTEDNESS
Redevelopment Agency of the'"My of Huntington Beach Page 1 of 4
Merged Project Area
Reconciliation Dates: From July 1,2009 To June 30, 2010
Tax year 2010.11
A B C D E F
Debt Indentification: Oustanding Debt Adjustments Amounts Paid Against Remaining
801,page and line: Brief All Beginning Increases Decreases Indebtedness,from; Balance
Prior Yr lCurrent Yr Description Indebtedness Attached Explanation) ;Attached Explanation) Tax Increment Other Funds A+B-C-D-E)
Pg. 1 Pg. 1
Line A Line A General Fund Advance 869,910 33,144 33,144 869,910
Pg. 1 Pg, 1
Line B Line B General Fund Advance 468,507 17,850 17,850 468,507
Pg. 1 Pg, 1
Line C Line C General Fund Advance 1,772,819 67,544 67,544 1,772,819
r.:-' 1 Pg. 1
'L,.,.-,;a D Line D General Fund Advance 2,860,283 108,596 108,597 2,850,282
Pg. 1 Pg, 1
Line E Line E General Fund Advance 717,608 27,341 27,341 717,608
Pg, 1 Pg, 1
Line F Line F General Fund Advance 2,158,887 82,254 82,254 2,158,887
Pg, 1 Pg. 1
Line G Line G General Fund Advance 322,543 12,289 12,289 322,543
Pg. 1 Pg. 1
Line H Line H General Fund Advance 109,328 4,165 4,165 109,328
Pg, 1 Pg. 1
Line I Line I General Fund Advance 88,774 3,382 3,382 88,774
00 Pg. 1 Pg. 1
Line J Line J General Fund Advance 112,371 4,281 4,281 112,371
Pg. 1 Pg. 1
w Line K Line K lWater Fund Advance 503,980 19,202 523,182
,
Pg. 1 Pg. 1
!d L Line L Water Fund Advance 3,224,721 122,862 3,347,583
1 Pg. 1
Line M Line M Gas Tax Advance
TOTAL THIS PAGE 13,199 731 502 910 360 847 13,341,794
CD
3
i
CD
KEGUNCILIA I IUN S 1 A I WENT a CHANGES IN INDEBTEDNESS
3 Redevelopment Agency of the City of Huntington Beach Page 2 of 4
-p Merged Project Area
Reconclllation Dates; From July 1,2009 To June 30, 2010
Tax year 2010.11
--4 A B C D I E F
N Debt Indentlfication: oustanding Debt Adjustments Amounts Paid Against Remaining
$01,page and line: Brief All Beginning Increases Decreases Indebtedness,from: Balance
Prior Yr Current Yr Description Indebtedness Attached Explanation) (Attached Explanation) Tax Increment Other Funds A+B-C-D-E
Pg, 2 Pg. 2
Line A Line A Draina a Fund Advance 601,596 22,921 624,517
Pg. 2 Pg. 2
Line B Line 8 General Fund Slufftop Advance 21,585 823 822 21,586
Pg. 2 Pg. 2
Line C Line C Land Sales 814,361 31,027 51,633 793,745
i,:,,.... 2 Pg. 2
Line D Line D Land Sales 2,466.694 93,981 156,397 2,404,278
Pg. 2 Pg, 2
Line E lUne E Land Sales 51,946,142 1,979,148 3,293,564 50,631,726
Pg. 2 Pg, 2
Line F Line F hand Sales 4,044,423 154,093 256,430 3,942,085
Pg. 2 Pg. 2
Line G Line G Land Sales 4,556,725 173,611 288,912 4,441,424
Pg. 2 Pg. 2
Line H Line H Sewer Fund Advance 249,625 9,511 259,136
Pg, 2 Pg. 2
= Line I Line I Ca tial Fund Advance
Pg, 2 Pg, 2 Low Income Housing-Property
Line J Line ,i Acquisition 1,362,500 1,362,500
Pg. 2 Pg, 2
Line K Line K General Fund Advance 839,770 31,995 31,995 839,770
Pg. 2 Pg, 2
L Line L Land Sale Emerald Cove 4,955,647 188,810 5,144,457
Fa: 2 Pg. 2
Line M Line M Deferred Develo er's Fees 688,533 26,233 714,766
TOTAL THIS PAGE 72 547,590 2,712,153 4,079,753 71 179,990
RECONCILIATION STATEMENT o ' %GES IN INDEBTEDNESS
Redevelopment Agency of tht; _.,y of Huntington Beach ,age 3 of 4
Merged Project Area
Reconcillatlon Date: From July 1,2009 To June 30, 2010
Tax year 2010.11
A B C D 1 E
Debt Indentification, Oustanding Debt Adjustments Amounts Paid Against Remaining
$01,page and line: Brief All Beginning Increases Decreases Indebtedness,from: Balance
Prior Yr Current Yr Description Indebtedness (Attached Explanation) Attached Explanation) Tax Increment other Funds A+B-C-D-E
Pg, 3 Pg. 3
Line A Line A Section 108 Loan 6,264,315 587,531 5,676 784
Pg, 4 Pg. 3
Line A Line B Mayer Loan 6,810.747 - 306,175 6,504,572
Pg. 4 Pg. 3
Line B Line c 2002 Tax Allocation Refund Bond 22,450 242 1,494,905 102,038 20,853,300
4 Pg. 3
C Line D Low&Moderate Income Set-Aside 32,887,233 10,428,712 3,678,279 39,637,666
Pg. 4 Pg. 3
Line E Line E 1999 Tax Allocation Refund Bond 10,276,306 731,794 9,544,612
Pg. 3
NEW Line F Bella Terra Parking 14,532,033 304,573 14,227 460
Pg. 3
NEW Line G CIM DDA Parking&Infrastructure Fj 16,597,450 362,083 16,235,367
Pg.
NEW Line CIM DDA Additional Parkin Fr.W 1,542,303 555,417 986,886
Pg. Pg,
Line Line
Pg. Pg.
E
Line Line
t) Pg, Pg,
tv
Cri Line Line
3
Pg. Pg,
L! q, Line
Pg.
Line Line
=TOTALIS PAGE 111,360 629 10,428,712 - 8,020,757 1 102,038 1 113,666,546
(D
3
W
Kt:QVN(:IL.IA I IVN b I A I I:Mt:N I " UHANUftb IN 1NUtb I!:L)ftbb PAGE 4 OF 4
3 Redevelopment Agency of the City of Huntington Beach
Merged Project Area
Reconciliation Dates, From July 1, 2009 To June 30, 2010
Tax year 2010.11
—4 A B C D E F
Debt Indentiffcation: Outstanding Debt Adjustments Amounts Paid Against Remaining
Sol,pai a and line: Brief All Beginning Increases Decreases Indebtedness,from: Balance
PriorYr. Current Yr. Description Indebtedness Attached gxplanatlon Attached Explanation Tax Increment Other Funds A+B-C-D-E
Pg, 3 Pg. 4
Line B Line A Pass Through Agreements 2,226,890 2,226,890
Pg. Pg. 4
Line Line B Arbitra a 2,959 2,959
Pg. New Pg, 4
Line New Line C Interest Expense -
New Pg.
Line New Line Admin Expenses 394,725 394,725
Pg. New Pg.
Line New Line
Pg. Pg.
Line Line
Pg. Pg,
Line Line
Pg. Pg.
Llna Line
TOTAL THIS PAGE 2,624 574 2,624,574
t
TOTALS FORWARD 197,107,950 13,643,775 - 12,461,357 102,038 198,188,330
rQ
GRAND TOTALS 197,107,950 16 268,349 15 085,931 102,038 198,188,330
'OTE; This form is to reconcile the previous Statement of Indebtedness to the current one being filed.However,since the reconciliation period Is limited by law to a
July t-June 30,fiscal year period,only those Items Included on the Sol Form A is to be Included on this document.To assist in following each Item of
Indebtedness from one Sol to the next,use page and line number references form each$01 that the Item of Indebtedness is listed on,if the Indebtedness is new
to this fiscal year,enter"new"in the"PrlorYr,"page and line columns,Column F must equal the current Sol,Form A Total Outstanding Debt column,
STATEMENT OF INDEBTEDNESS - CONSOLIDATED
FILED FOR THE 2010.11 TAX YEAR
REDEVELOPMENT AGENCY FOR THE CITY OF HUNTINGTON BEACH
SOUTHEAST COASTAL PROJECT AREA
Current
Balance Carried Forward From: Total Principallinterest
Line Oustanding Debt Due During Tax Year
Fiscal Period-Totals From Form A, Page 1 Totals 1 9,223 933 10,723
(Optional)
Post Fiscal Period-Totals From Form B Totals 2
Grand
Totals 3 9,223,933 10 723
Available Revenues
From Calculation of Available Revenues, line 7 4 1,418,245
Net
Requirement 5 7 807 687
JM
Consolidate on this form all of the data contained on Form A and B(including supplemental pages),Form A is to include
all Indebtedness entered Into as of June 30 of the Fiscal Year, Form B maybe flied at the option of the agency,and is to
Include indebtedness entered Into post June 30 of the Fiscal Year,pursuant to Health and Safety Code Section 33675(c)(2).
This Is optional for each agency and is not a requirement for flling the Statement of Indebtedness,The Reconciliation
Statement Is to Include Indebtedness form Form A only,
F
`.:,. Certification of Chief Financial Officer:
Pursuant to Section 33675(b)of the Health and Safety Code. Bob Wingenroth Finance Director
i hereby certify that the above Is a true and accurate Statement Name Title
of indebtedness for the above named agency.
Signature Date
CD
3
.p
1!
REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
Southeast Coastal Project Area
TAX YEAR 2010-11
RECONCILIATION DATES:JULY 1,2009 TO JUNE 30,2010
1.Beginning Balance,Available Revenues $1,355,350
(See Instructions)
2.Tax Increment Revenues-Gross 53,615
AIR Tax Increment Revenues,to include any Tax Increment
Passed through to other local taxing agencies.
3.All other Available Revenues Received $0
(See Instructions)
4.Revenues from any other source,included 18,003
in Column E of the Reconciliation
Statement,but not included in(1-3)above
5.Sum of Lines 1 through 4 $1,426,968
6.Total amounts Paid against indebtedness 10,723
in Previous year.(D+E on Reconciliation Statement)
7.Available Revenues,End of Year(5-6) $1,416,245
FORWARD THIS AMOUNT TO STATEMENT OF INDEBTEDNESS,
COVER PAGE,LINE 4
NOTES
Tax Increment Revenues:
The only amount(s)to be excluded as Tax Increment Revenue are any amounts passed through to other local taxing
agencies pursuant to Health and Safety Code Section 33676.Tax Increment Revenue set-aside in the Low and
Moderate Income Housing Fund will be washed in the above calculation, and,therefore,omitted from Available
Revenues at year end_
Item 4.above:
This represents revenues received from any source other than tax Increment OR available revenues.For instance,an
agency funds a project with a bond issue.The previous SOI included a Disposition Development Agreement(DDA)
which was fully satisfied with these bond proceeds.The DDA would be shown on the Reconciliation Statement as fully
repaid under the'other column(Col E),but with funds that were neither tax Increment nor"Available Revenues"as
defined.The amounts used to satisfy this DDA would be included on line 4 above in order to accurately determine
ending"Available Revenues."
Item 4. - 176 H -2 -
STATEMENT OF INDEBTEDV FISCAL YEAR INDEBTEDNESS
FILED FOR THE 20•io-2011 TAX YEAR Form A
THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
Southeast Coastal Project Area
For indebtedness Entered into as of June 30, 2010
Tax year 2010-11
Original Data Current
Interest Total Total Principal/Interest
Debt Indentification Date Principal Term Rate Interest Outstanding Debt Due During Tax Year
A Loan from Merged Project Area 2002/03 302,489 N/A 302,489
3 Capital Improvement Pro ram 2002/03 6,505,000 N/A 6,505,000
C Advance General Fund 2002/03 199,946 N/A 247,249
D Low Income Housing Set-Aside 2002/03 N/A Open N/A 1,844,787 10,723
E Capital Improvement Project 2004/05 270,000 N/A 324,408
F
= G
t�
ra H
r-)
L
y,
Sub Total
This Page 91223,933 10,723
Total Forward
From All Other Pages
Totals,
Fiscal Year Indebtedness 91223,933 10,723
Purpose of Indebtedness:
(A) Pre-Formation Costs (F)
CD (B) General Fund Loan for Improvement Capital Projects (G)
3 (C) Advances from General Fund-02eratingBudget (H)
� (D) Low Income Set-aside (1)
(E) Aotive projects funded out of General Fund loan W)
CD
3 RECONCILIATION STATEMENT-CHANCES IN INDEBTEDNESS
;IP Redevelopment Agency of the City of Huntington Beach
Southeast Coastal Project Area
Reconciliation Dates: From July 1, 2009 To June 30, 2010
O0 Tax year 2010.2011
A B C D E F
Debt Indentificatlon: Outstanding Debt Adjustments Amounts Paid Against Remaining
$01,pago and line: Brief All Beginning Increases Decreases Indebtedness,from: Balance
Prior Yr. Current Yr, Description Indebtedness (Attached Explanation) Attached Explanation Tax Increment Other Funds A*B-C-C-D-E
Pg, 1 Pg. 1
Line A Line A Loan from Merged Project Area 302,489 302,489
Pg, 1 Pg. 1
Line B Line 8 Capital Improvement Program 61505,000 6,505,000
Pga1 , 1 Pg, 1
Li C Line C Advance General Fund 238,175 9,074 247,249
Pg 1 Pg. 1
Line D Line D Ca ital Im rov, Projects active 312,502 11,906 324,408
Pg, Pg.
Line Line
Pg, Pg.
Line Line
Pg. Pg.
Line Line -
Pg, 1 Pg. 1
Line E ILIne E Low Income Housin Set-Aside 1,839.542 15,968 10,723 1,644,787
3
TOTAL THIS PAGE 9,197,706 36,948 10,723 9,223,933
iv
e�
TOTALS FORWARD
4
GRAND TOTALS 9,197,708 36,948 10,723 9,223,933
"�' This form is to reconcile the previous Statement of Indebtedness to the current one being flied.However,since the reconciliation period Is limited bylaw to a Jul
NOTE: 1-June 30,fiscal year p g P y y
period,only those Items included on the 801 Form A is to be Included on this document.To assist to following each Item of Indebtedness
from one$OI to the next,use page and tine number references form each$01 that the item of Indebtedness is listed on,If the Indebtedness Is new to this fiscal
year,enter"new"in the"Prior Yr."page and line columns.Column F must equal the current 801,Form A Total Outstanding Debt column.
CITY OF HUNTINGTON BEAD
Finance Department
Bob Wingenroth, Finance Direc for
August 5, 2010
Property Tax Supervisor
County of Orange
Auditor Controller
P.O. Box 567
Santa Ana, CA 92702-0567
Statements of Indebtedness for Tax Year 2010-11
Dear Sir/Madam.
Enclosed are the indebtedness statements for the Redevelopment Agency of the City of
Huntington Beach as of June 30, 2010_
If you need additional information, please call me at (714) 536-5506.
Sincerely,
Janet Lockhart
Senior Administrative Analyst
Enclosures
2000 Maim Street, California 92648-2702 m Phor H -231--5630• Fax 714-374-5365* www_ Item 4. - 179
(D
3 STATEMENT OF INDEBTEDNESS - CONSOLIDATED
FILED FOR THE 2010.11 TAX YEAR
REDEVELOPMENT AGENCY FOR THE CITY OF HUNTINGTON BEACH
00
O MERGED PROJECT AREA
Current
Balance Carried Forward From: Total Principal/Interest
Line Oustanding Debt Due During Tax Year
Fiscal Period -Totals From Form A Totals 1 198,188,330 8,122,794
(Optional)
Post Fiscal Period -Totals From Form B Totals 2
Grand
Totals 3 198,188,330 8,122,794
Available Revenues
From Calculation of Available Revenues, fine 7 4 $13,195,800
Net
Requirement 5 184,992,530
Consolidate on this form all of the data contained on Form A and 8(including supplemental pages). Form A is to include
all Indebtedness entered Into as of June 30 of the Fiscal Year. Form B maybe filed at the option of the agency, and is to
Include indebtedness entered Into post June 30 of the Fiscal Year, pursuant to Health and Safety Code Section 33675(c)(2).
This is optional for each agency and is not a requirement for filing the Statement of Indebtedness.The Reconciliation
Statement Is to Include indebtedness form Form A only.
8
Certification of Chief Financial Officer:
Pursuant to Section 33675(b)of the Health and Safety Code. Bob Wingenroth Finance Director
I hereby certify that the above is a true and accurate Statement Name Title
of indebtedness for the above named agency.
�/
Signature Date
REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
MERGED PROJECT AREA
TAX YEAR 2010-11
RECONCILIATION DATES: DULY 1, 2009 TO.JUNE 30, 2010
1. Beginning Balance,Available Revenues $9,967,669
(See Instructions)
2.Tax Increment Revenues-Gross 18,314,062
All Tax Increment Revenues,to include any Tax Increment
passed through to other local taxing agencies.
3.All other Available Revenues Received $102,038
(See Instructions)
4. Revenues from any other source, included $0
in Column E of the Reconciliation
Statement, but not included in ( 1-3) above
5. Sum of Lines 1 through 4 $28,383,769
6.Total amounts paid against indebtedness 15,187,969
in previous year.( D+E on Reconciliation Statement)
7.Available Revenues, End of Year(5-6) $13,195,800
FORWARD THIS AMOUNT TO STATEMENT OF INDEBTEDNESS,
COVER PAGE, LINE 4
NOTES
Tax Increment Revenues:
The only amount(s)to be excluded as Tax Increment Revenue are any amounts passed through to other local
taxing agencies pursuant to Health and Safety Code Section 33676. Tax Increment Revenue set-aside in the Low
and Moderate Income Housing Fund will be washed in the above calculation, and therefore omitted from Available
Revenues at year end.
item 4.above:
This represents my payments form any source other than tax Increment OR available revenues. For instance,
an agency funds a project with a bond issue.The previous SOI included a Disposition Development Agreement
(DDA)which was fully satisfied with these bond proceeds. The DDA would be shown on the Reconciliation
Statement as fully repaid under the"other"column(Col E), but with funds that were neither tax Increment, nor
"Available Revenues" as defined.The amounts used to satisfy this DDA would be included on line 4 above in order
to accurately determine ending "Available Revenues."
H -2 - Item 4. - 181
FILED FOR THE 2010.2011 TAX YEAR Form A
3 Page 1 of 3
-p THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
MERGED PROJECT AREA
Oo For Indebtedness Entered Into as of June 30,2010
IV
Original Data Current
Interest Total Total Principal/Interest
Debt Indentification Date lPrincipal Term Rate Interest Outstandin2 Debt Due Durin Tax Year
A General Fund Advance 1985/86 2,015,086 5,60% 1,374,040 869,910
13 General Fund Advance 1986/87 751,988 5.60% 689,341 468.507
C General Fund Advance 1987/88 4,093,298 5,60% 3,808,532 1,772,819
D General Fund Advance 1988/89 4,033,406 5.60% 4,842.639 2,850,282
E General Fund Advance 1989/90 1,759,835 5.60% 1,609,141 717,608
F General Fund Advance 1990/91 4,867,001 5.60% 5,534,534 2,158,887
G General Fund Advance 1991/92 698,250 5.60% 725,888 322,543
M General Fund Advance 1992/93 250,116 5.60% 192,030 109,328
I General Fund Advance 1993/94 113,656 5.60% 99,710 88,774
)I-General Fund Advance 1994/95 3,088,374 5.60% 3,128,914 112,371
K Water Fund Advance 1986/87 138,000 1 5.60% 389,242 523,182
(i_) Water Fund Advance 1987/88 1,000,000 5.60% 2,580,764 3,347,583
Total
This Pa a 13,341,794 -
Purpose of Indebtedness:
(A) General and Administrative (G) General and Administrative
(B) General and Administrative (M) General and Administrative
(G) General and Administrative (1) General and Administrative
(0) Gene4 and Administrative (J) General and Administrative
(E) General and Administrative (K) Construction of Water Improvements
(F) Ger--al and Administrative " 1 Construction of Water Improvements
FILED FOR THE 7 2011 TAX YEAR -m A
P,..e 2 of 3
THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
MERGED PROJECT AREA
For Indebtedness Entered into as of June 30, 2010
Original Data Current
Interest Total Total Principal/Interest
Debt Indentification Date Princi al Term Rate Interest Outstanding Debt Due Durin2 Tax Year
1A
113) Draina e Fund Advance 1987/88 250,000 5,60% 627,705 624,517
C General Fund Blufftop Advance 1987188 50,000 5,60% 95,133 21,586
D Land Sales 1983/84 405,536 5.60% 450,985 793,745
E Land Sales 1987/88 1,228,381 5,60% 1,584,636 2,404,278
F Land Sales 1988/89 29,002,000 5,60% 28,486,592 50,631,726
G Land Sales 1989/90 2,267,000 5.60% 2,392,951 3,942,085
T-
e
H Land Sales 1991/92 3,064,730 1 5,60% 3,005,238 4,441,424
ha
cn I Sewer Fund Advance 1989/90 175,000 5.60% 344,144 259,136
Low Income Housing Loan
K Property Acquisition 1994/95 1,362,600 5,60% 1,362,500
(L) General Fund Advance 1995196 3,059,414 5,60% 942,726 839,770
Total
This Page 65,320,767
Purpose of Indebtedness:
(A) Street_lmprovernents (G) Land Sold by City to Agency
(B) Drainage Improvements (H) Land Sold by City to Agency
(C) Blufftop Park Purchase (1) Sewer Improvements
p (D) Land Sold by City to Agency _ W)
(E) Land Sold by City to Agency (K)_Property Aquisition
-� (F) Land Sold by City to Agency (L) General and Administrative
W
W
s -- . +........ . ti.. •. ��� •ww••w!! • !a• �o • ®a fa a •••p®y•®®I V 40rr
(DD FILED FOR THE 2010-2011 TAX YEAR Form A
3 Page 3 of 3
.p THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
MERGED PROJECT AREA
00 For Indebtedness Entered into as of June 30, 2010
..p
Original Data Current
Interest Total Total Principal/Interest
Debt Indentification Date Principal Term Rate Interest Outstanding Debt Due During Tax Year
A Land Sale Emerald Cove 1988/89 1,740,834 5.60% 2,645,611 5,144,457
B Deferred Developer's Fees 1989/90 358,882 5.60% 617,284 714,766
C Mayer Loan 1990/91 4,073,156 437,761 6,504,572 306,175
D Section 108 Loan 2000/01 6,000,000 7.70% 5,443,600 5,676,784 587,531
E 2002 Tax Allocation Refunding Bonds 2002/03 20,900,000 11,592,171 20,853,300 1,596,943
F Low& Moderate Income Set-Aside 1992/93 N/A Open 39,637,666 3,678,279
G 1999 Tax Allocation Refunding Bonds 1998/99 10,835,000 26 Yrs 3-5.05% 7,036,448 9,544,512 731,794
H Bella Terra Parkin 2006/07 15,349,567 18 yrs 6.94% 29,410,471 14,227,460 304,573
1. 1 CIM DDA Parking & Infrastructure 2008/09 7,900,000 25 yrs 7.00% 8,697,450 16,235,367 362,083
° J CIM DDA-Additional Parkin 2008/09 950,000 25 rs 10,00% 592,303 986,886 555,417
Sub Total
This Page 119,625,769 8,122,794
Total Forward
From Ail Other Pages 78,662,561 -
Tatals,
Fiscal Year Indebtedness 198,188,330 $,122,794
Purpose of Indebtedness;
(A) Land Sale from the City to Emerald Cove (F) Low&Moderate Income Set-Aside
(B) Deferred Fees -Emerald Cove (G) Defeasance of a portion of the HBFFA Advance
(C) Relocate Mobile Home Park (H) Bel a Terra Parking
(D) Federal Loan for Captial Improvements (1) CIM DDA Parking & Infrastructure
(E) Defeasance of a final portion of the HBFFA Advance (J) CIM DDA Additional Parking
Redevelopment Agency of the r of Huntington Beach Page 1 of 4
MergL roject Area
Reconciliation Dates: From July 1, 2009 To June 30, 2010
Tax year 2010.11
A i B C D E F
Debt Indentiflcation, Oustanding Debt Adjustments Amounts Paid Against Remaining
SOI,page and line: Brief All Beginning Increases Decreases Indebtedness,from: Balance
Prior Yr Current Yr Description indebtedness (Attached Explanation) (Attached Explanation) Tax increment Other Funds A+B•C D-E)
Pg. 1 Pg, 1
Line A Line A General Fund Advance 869,910 33,144 33,144 869,910
Pg. 1 Pg, 1
Line B Line B General Fund Advance 468,507 17,850 17,850 468,607
Pg. 1 Pg, 1
Line c Line c General Fund Advance 1,772,819 67,544 67,544 1,772,819
1 Pg. 1
L...e 0 Line D General Fund Advance 2,850,283 108,596 108,597 2,850,282
Pg. 1 Pg. 1
Line E Line E General Fund Advance 717,608 27,341 27,341 717,608
Pg. 1 Pg, 1
Line F Line F General Fund Advance 2,158,887 82,254 82,254 2,158,887
Pg, 1 Pg. 1
Line G Line G General Fund Advance 322,543 12,289 12,289 322,543
Pg. 1 Pg, 1
Line H Line H General Fund Advance 109,328 4,165 4,165 109,328
Pg, 1 Pg, 1
Line I Line I General Fund Advance 88,774 3,382 3,382 88,774
Pg, 1 Pg. 1
Line J Line J General Fund Advance 112,371 4,281 4,281 112,371
Pg, 1 Pg. 1
Line K Line K Water Fund Advance 503,980 19,202 - 523,182
Pg, i Pg. 1
L Line L Water Fund Advance 3,224.721 122,862 - 3,347,583
i . 1 Pg. 1
Line M ILlne M Gas Tax Advance -
ITOTAL THIS PAGE 1 13,199,731 502,910 1 360,847 - 13,341,794
CD
3
00
Redevelopment Agency of the City of Huntington Beach Page 2 of 4
Merged Project Area
Reconcillatlon pates: From July 1, 2009 To June 30, 2010
.1 'ax year 2010-11
A B C p E P
00 Debt Indentificatlon: Oustanding Debt Adjustments Amounts Paid Against Remaining
01,pa a and line: Brief All Beginning Increases Decreases Indebtedness,from: Balance
Prior Yr Current Yr Description Indebtedness (Attached Explanation) (Attached Explanation) Tax Increment Other Funds (A+B-C-D-E)
Pg. 2 Pg. 2
Lfne A Line A Drainage Fund Advance 601,596 22,921 624,517
Pg, 2 Pg. 2
Line a Line 8 General Fund Blufftop Advance 21,585 823 822 21,586
Pg. 2 Pg, 2
Line C Line C Land Sales 814,351 31,027 51,633 793,745
r 2 Pg. 2
One D Line D Land Sales 2,466,694 93,981 156,397 2,404,278
Pg. 2 Pg. 2
Line E Line E Land Sales 51,946,142 1,979,148 3,293,564 50,631,726
Pg. 2 Pg. 2
Line F Line F Land Sales 4,044,423 154,093 256,430 3,942,085
Pg. 2 Pg. 2
Line G Line G Land Sales 4,556,725 173,611 288,912 4,441,424
Pg. 2 Pg. 2
Line H Line H Sewer Fund Advance 249,625 9,511 259,136
Pg. 2 Pg. 2
Une I Line I Ca tial Fund Advance - -
'g. 2 Pg, 2 Low Income Housing - Property
ine J Line J Acquisition 1,362,500 1,362,500
�g. 2 Pg. 2
C?O.Ine K Line K General Fund Advance 839,770 31,995 31,095 839,770
Pg. 2 Pg. 2
I` L Line L Land Sale Emerald Cove 4,955,647 188,810 5,144,457
Fa; 2 Pa. 2
Line M Line M Deferred Develo er's Fees 688,533 26,233 714,766
T0TAL THIS PAGE 72,547,590 2,712,153 1 4,079.753 - 71,179,990
Redevelopment Agency of the r of Huntington Beach Page 3 of 4
Merg. roject Area
Reconciliation Rates: From July 1, 2009 To June 30, 2010
Tax year 2010.11
A e c D E �
Debt Indentification: Oustanding Debt Adjustments Amounts Paid Against Remaining
S0l,page and line: Brief All Beginning Increases Decreases Indebtedness,from: Balance
Prior Yr Current Yr Description Indebtedness (Attached Explanation) Attached Explanation Tax Increment Other Funds (A+B-C-D-E
Pg. 3 Pg. 3
Line A Line A Section 108 Loan 6,264,315 587,531 5,676,784
Pg, 4 Pg. 3
Line A Line B Mayer Loan 6,810,747 - 306,175 6,504,572
Pg. 4 Pg. 3
Line B Line C 2002 Tax Allocation Refund Bond 22,450,242 1,494,905 102,038 20,863,300
P- 4 Pg. 3
C Line D Low&Moderate Income Set-Aside 32,887.233 10,428,712 3,678,279 39.637,666
Pg. 4 Pg. 3
Line E Line E 1999 Tax Allocation Refund Bond 10,276,306 731,794 9,544,512
Pg. 3
NEW Line F Bella Terra Parking 14,532,033 - 304,573 14.227,460
Pg. 3
NEW Line G CIM DDA Parking& Infrastructure Fj 16,597,450 362,083 16,235,367
Pg,
NEW Line CIM DDA Additional Parkin Fr. W 1,542,303 555,417 986,886
Pg, Pg,
Line Line -
Dg, Pg.
00 Line Line
w 'g. Pg,
C.0 -ine Line
E
Pg. Pg,
Ljra.. Line -
Pg
Line Llne -
TOTAL THIS PAGE 111,360,629 10,428,712 8,020,757 102,038 113,666,546
M
3
0000
Redevelopment Agency of the City of Huntington Beach
CD Merged Project Area
3 Reconciliation Dates: From July 1, 2009 To June 30, 2010
_P:. 'ax year 2010-1 fi
� A 8 C D E F
O0 Debt lndentification: Outstanding Debt Adjustments Amounts Paid Against Remaining
CO SOI,pa a and line: Brief All Beginning increases Decreases indebtedness,from: Balance
Prior Yr. Current Yr. Description Indebtedness (Attached Explanation) (Attached Explanation) Tax Increment Other Funds A+B-C-D-E)
Pg, 3 Pg. 4
Line B Line A Pass Throu h Agreements 2,226,890 2,226,890
Pg, Pg, 4
Line Line B Arbitrage 2,959 2,959
Pg, New Pg. 4
Line New Line C Interest Ex ense -New Pg.
brie New Line Admin Ex enses 394,725 394,725 -
Pg. New Pg,
Line New Line
Pg. Pg.
Line Line
Pg, Pg,
Line Line
Pg, Pg,
Line Llne
TOTAL. THIS PAGE - 2,624,574 - 2,624,574 - -
TOTALS FORWARD 197,107,950 13,643,775 - 12,461,357 102,038 198,188,330
GRAND TOTALS 197,107, 550 16,268,349 - 15,085,931 102,038 198,188,330
OTE: This form Is to reconcile the previous Statement of Indebtedness to the current one being filed.However,since the reconciliation period Is limited by law to a
July 1-June 30,fiscal year period,only those Items included on the SOI Form A is to be Included on this document.To assist In following each item of
Indebtedness from one SOI to the next,use page and line number references form each SOI that the Item of indebtedness Is listed on,If the Indebtedness Is new
to this fiscal year,enter"new"In the"Prior Yr."page and line columns.Column F must equal the current SOI,Form A Total Outstanding Debt column.
STATEMENT OF INDEB. ..:DNESS - CONSOLIDATED
FILED FOR THE 2010.11 TAX YEAR
REDEVELOPMENT AGENCY FOR THE CITY OF HUNTINGTON BEACH
SOUTHEAST COASTAL PROJECT AREA
Current
Balance Carried Forward From: Total Principaliinterest
Line Oustandin Debt Due Durin Tax Year
Fiscal Period -Totals From Form A, Page 1 Totals 1 9,223,933 10,723
(Optional)
Post Fiscal Period .Totals From Form B Totals 2 -
Grand
Totals 3 9,223,933 10,723
Available Revenues
From Calculation of Available Revenues, Line 7 4 1,416,245
Net
Requirement 5 7,807,687_jjjjjM
Consolidate on this form all of the data contained on Form A and B(including supplemental pages). Form A is to include
all indebtedness entered Into as of June 30 of the Fiscal Year. Form B maybe fled at the option of the agency, and is to
include indebtedness entered into post June 30 of the Fiscal Year, pursuant to Health and Safety Code Section 33675(c)(2).
This is optional for each agency and is not a requirement for filing the Statement of Indebtedness.The Reconciliation
Statement Is to include Indebtedness form Form A only,
e
Certification of Chief Financial Officer:
Pursuant to Section 33675(b)of the Health and Safety Code. Bob Wingenroth Finance Director
I hereby certify that the above is a true and accurate Statement Name Title
of Indebtedness for the above named agency.
Signature Date
r,-
(D
3
-P
Q0
REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
Southeast Coastal Project Area
TAX YEAR 2010-11
RECONCILIATION DATES: JULY 1, 2009 TO JUNE 30, 2010
1. Beginning Balance,Available Revenues $1,355,350
(See instructions)
2. Tax Increment Revenues-Gross 53,615
All Tax Increment Revenues,to include any Tax Increment
passed through to other local taxing agencies.
3.All otherAvailable Revenues Received $0
(See Instructions)
4. Revenues from any other source, included 18,003
in Column E of the Reconciliation
Statement, but not included in ( 1-3)above
S. Sum of Lines 1 through 4 $1,426,968
6. Total amounts paid against indebtedness 10,723
in previous year.(D+ E on Reconciliation Statement)
7. Available Revenues, End of Year(5-6) $1,416,245
FORWARD THIS AMOUNT TO STATEMENT OF INDEBTEDNESS,
COVER PAGE,LINE 4
NOTES
Tax Increment Revenues:
The only amount(s)to be excluded as Tax Increment Revenue are any amounts passed through to other local taxing
agencies pursuant to Health and Safety Code Section 33676. Tax Increment Revenue set-aside in the Low and
Moderate Income Housing Fund will be washed in the above calculation, and, therefore, omitted from Available
Revenues at year end.
Item 4. above:
This represents revenues received from any source other than tax Increment OR available revenues. For instance, an
agency funds a project with a bond issue.The previous SO] included a Disposition Development Agreement(DDA)
which was fully satisfied with these bond proceeds. The DDA would be shown on the Reconciliation Statement as fully
repaid under the"other'column(Col Q, but with funds that were neither tax Increment nor"Available Revenues"as
defined. The amounts used to satisfy this DDA would be included on line 4 above in order to accurately determine
ending"Available Revenues."
Item 4. - 190 H - 4 -
FILED FOR THE 20 1011 TAX YEAR A
THE REDEVELOPMENT AGENCY OF THE CITY of HUNTINGTON BEACH
Southeast Coastal Project Area
For Indebtedness Entered into as of June 30, 2010
Tax year 2010-11
Original Data Current
Interest Total Total Principal/Interest
Debt Indentification Date Principal Term Rate Interest Outstandin2 Debt Due During Tax Year
A Loan from Merged Project Area 2002/03 302,489 N/A 302,489
Capital Improvement Program 2002/03 6,505,000 N/A 6,505,000
C Advance General Fund 2002/03 199,946 N/A 247,249
D Low Income Housin Set-Aside 2002/03 N/A Open NIA 1,844,787 10,723
E Capital Improvement Project 2004/05 270,000 N/A 324,408
F
G
H
Sub Total
This Page 9,223,933 10,723
Total Forward
From All Other Pages -
1[Totals,
Fiscal Year Indebtedness 9,223,933 1 10,723
Purpose of indebtedness:
CD (A) Pre-Formation Costs (F)
3 (B) General Fund Loan for Improvement Capital Projects (G)
(C) Advances from General Fund-Operatin Budget (H)
(D) Low Income Set-aside (1)
(E) Active projects funded out of General Fund loan (J)
RECONCILIATION STATEMENT - CHANGES IN INDEBTEDNESS
CD
3 Redevelopment Agency of the City of Huntington Beach
.p Southeast Coastal Project Area
•I Reconciliation Dates: From July 1, 2009 To June 30, 2010
—x x year 2010.2011
N A B C D F F
Debt Indentification: Outstanding Debt Adjustments Amounts Paid Against Remaining
Sol,page and line: Brief All Beginning Increases Decreases Indebtedness,from: Balance
Prior Yr. I Current Yr, Description Indebtedness (Attached Explanation) (Attached Explanation) Tax Increment Other Funds (A+B-C-C-D-E
Pg, 1 Pg. 1
Line A Line A Loan from Merged Project Area 302,489 302,489
Pg, 1 Pg. 1
Line B Line B Capital Improvement Program 6,505,000 6,505,000
Pg. 1 Pg. 1
L;` C Line C Advance General Fund 238,175 9,074 247,249
Pg, 1 Pg, 1
Line D Line D Capital Im rov. Projects active 312,502 11,906 324,408
Pg, Pg.
Line Line
Pg. Pg.
Line Line -
Pg. Pg,
Line Line
Pg, 1 Pg. 1
Line E Line E Low Income Housing_Set-Aside 1,839,542 15,968 10,723 1,844,787
Z
CU)TAL THIS PAGE 9,197,708 36,948 - 10,723 - 9,223,933
lv
)TALS FORWARD - -
E
RAND TOTALS 77 36,948 1 0,723 9,223,933
NOTE: This form is to reconcile the previous Statement of Indebtedness to the current ono being flied.However,since the reconciliation period is limited bylaw to a July
1-June 30,fiscal year period,only those Items Included on the SOI Form A Is to be included on this document.To assist In following each Item of Indebtedness
from one$OI to the next,use page and line number references form each Sol that the Item of Indebtedness Is listed on,If the Indebtedness Is new to this fiscal
year,enter"new"In the"PriorYr."page and line columns.Column F must equal the current Sol,Form A Total Outstanding Debt column,