The URL can be used to link to this page

Home My WebLink AboutSuccessor Agency - 2025-04 RESOLUTION NO. 2025-04 A RESOLUTION OF THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD JULY 1, 2026—JUNE 30, 2027 ("ROPS 26-27") WHEREAS, pursuant to AB xl 26 (as amended by AB 1484, the "Dissolution Act"), the separate legal entity known as Successor Agency to the Redevelopment Agency of the City of Huntington Beach ("Successor Agency") must prepare "Recognized Obligation Payment Schedules" ("ROPS") that enumerate the enforceable obligations and expenses of the Successor Agency for each successive annual fiscal period until the wind down and disposition of assets of the former Redevelopment Agency of the City of Huntington Beach; and The Successor Agency staff has prepared a ROPS for the annual fiscal period commencing on July 1, 2026 and continuing through June 30, 2027 ("ROPS 26-27") which is attached hereto as Exhibit A; and After reviewing ROPS 26-27,presented to and recommended for approval by Successor Agency staff, and after reviewing any written and oral comments from the public relating thereto, the Successor Agency Board desires to approve the ROPS 26-27; and All of the prerequisites with respect to the approval of this Resolution have been met. NOW, THEREFORE,the Successor Agency to the Redevelopment Agency of the City of Huntington Beach does hereby resolve as follows: 1. The Successor Agency hereby finds and determines that the foregoing recitals are true and correct. 2. The Successor Agency hereby approves ROPS 26-27 in the form presented to the Successor Agency and attached hereto as Exhibit A, and hereby determines that such agreements and obligations constitute "enforceable obligations" and"recognized obligations" for all purposes under the Dissolution Act. 3. The Successor Agency authorizes and directs the Successor Agency staff to: (i) take all actions necessary under the Dissolution Act to post ROPS 26-27 on the Successor Agency website once approved by the Oversight Board to the Successor Agency; (ii) transmit ROPS 26-27 to the Auditor-Controller and the County Administrator of the County of Orange and to the State Controller and the State Department of Finance ("DOF"); and (iii) to do any and all things and to execute and deliver any and all documents which may be necessary or advisable in order to effectuate the purposes of this Resolution. In addition, the Successor Agency authorizes and directs the Successor Agency staff to make such non-substantive revisions to ROPS 26-27 as may be necessary to submit ROPS 26-27 in any modified form required by DOF, and ROPS 26-27 as so modified shall thereupon constitute ROPS 26-27 as approved by the Successor Agency pursuant to this Resolution. 25-17465/398544 1 RESOLUTION NO. 2025-04 4. The Successor Agency authorizes the Executive Director, or designee, to make such non-substantive changes and amendments to ROPS 26-27 be approved by the Executive Director of the Successor Agency and its legal counsel, ROPS 26-27 as so modified shall thereupon constitute ROPS 26-27 as approved by the Successor Agency pursuant to this Resolution. 5. The Successor Agency does not intend, by adoption of this Resolution,to waive any constitutional, legal and/or equitable rights of the Successor Agency or the City of Huntington Beach under law and/or in equity by virtue of the adoption of this Resolution and actions approved and taken pursuant to this Resolution and, therefore, reserves all such rights of the Successor Agency and the City of Huntington Beach under law and/or in equity. PASSED AND ADOPTED by the Successor Agency to the Redevelopment Agency of the City of Huntington Beach at a regular meeting thereof held on the /b day of December, 2025. /Y? Chairperson REVIEWED AND APPROVED: Executive Director APPROVED AS TO FORM: General Legal Counsel 25-17465/398544 2 EXHIBIT A RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD JULY 1, 2026 THROUGH JUNE 30, 2027 ("ROPS 26-27") [behind this page] 12/8/25,12:39 PM RAD Reso No. 2025-04 Exhibit "A" Huntington Beach ROPS 2026-27 Annual Summary_ D r nl Cash Balances Suhmission Requested Funding for Obligations 26-27A Total 26-27B Total ROPS Total A Obligations Funded as Follows(B+C+D) 0 0 0 B Bond Proceeds 0 0 0 C Reserve Balance 0 0 0 D Other Funds 0 0 0 E Redevelopment Property Tax Trust Fund 6,188,664 6,898,050 13,086,714 (RPTTF)(F+G) F RPTTF 6,113,664 6,823,050 12,936,714 G Administrative RPTTF 75,000 75,000 150,000 H Current Period Obligations(A+E) 6,188,664 6,898,050 13,086,714 https://rad.dot.ca.gov/rops/annual/summary 1/1 12/8/25,12:41 PM RAD Huntington Beach ROPS 2026-27 Annual Summary- Detail Cash Balances Submission Filter Export to Excel Agreement Agreement Total Total Obligation Execution Termination Outstanding Requested Item# Name Obligation Type Date Date Payee Description Obligation Funding Notes / 14 Strand Hotel OPA/DDA/Construction 06/01/1999 09/30/2033 CIM Group, Property Tax 4,506,982 677,904 and Mixed- LLC and Sharing Use Project, Kane Agreement Parking& Ballmer under the Infrastructure and Disposition and Berkman Development Agreement (DDA)for development of hotel,retail, restaurant,and public parking structure.The Implementation of the DDA and the Sixth Implementation Agreement were entered into from June 1999 to November 2008. / 15 Strand OPA/DDA/Construction 01/20/2009 09/30/2033 CIM Group, Property Tax 394,802 49,576 Project LLC Sharing Additional Agreement Parking under the Disposition and Development Agreement (DDA)and Sixth Implementation Agreement for the Strand projects parking structure authorized on January 20, 2009. hops://rad.dof.ca.gov/ropa/annual/detail 1/2 1218/25,12:41 PM RAD • Agreement Agreement Total Total Obligation Execution ' Termination • Outstanding Requested ' Item# I Name Obligation Type Date Date Payee Description Obligation Funding Notes 9 . 30 Bella Terra OPA/DDA/Construction 10/04/2010 07/01/2036 Bella Terra Agreement 9,591,735 1,376,184 Phase II Villas,LLC approved on Property Tax : ' and Kane October 4,2010 . Sharing Ballmer ' for construction , Agreement Berkman of a 467 mixed- use unit project. Construction is complete and 1 ' financed by property tax allocations. . • Includes legal . requirements to , implement obligation. 9 50 • Enforcement Admin Costs ' 02/01/2012 11/26/2040 Successor Successor 3,600,000 150,000 of Successor ' Agency, • Agency Agency Kane • administrative dissolution Balimer, : obligations ' ' compliance Keyser : relating to and Marston, : maintaining monitoring ; and Davis payments on per AB 1 X26 , ' Farr Petal • enforceable and AB1484 obligations and other activities • as required by . ' AB 1 X26 diP 64 Successor Dissolution Audits : 11/04/2013 : 08/01/2024 Davis Farr ; Statutorily 10,000 10,000 , Agency , LLP required annual Financial 'financial ' . Statement ! ' statement audit Audit of Successor • Agency. . , 119 Waterfront ' City/County Loan(Prior ' 09/19/1988 ; 06/30/2040 City of ; Acquisition of 14,928,759 10,823,050 ' Commercial ; 06/28/11),Property ! Huntington the Waterfront , Master Site • transaction Beach property related Plan to the ' Waterfront , Commercial , i , •• , Master Site , Plan i • https//rad.dof.ca.gov/rops/annuaUdetail 2/2 12/8/25,12:44 PM RAD Huntington Beach ROPS 2026-27 Annual Summary Detail Cash Balances- Suhmissio4 Pursuant to Health and Safety Code section 34177(I),Redevelopment Property Tax Trust Fund(RPTTF)may be listed as a source of payment on the ROPS,but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obligation.For tips on how to complete the Report of Cash Balances Form,see Cash Balance T821. Export to Excel Note:Cash Balances data is auto-saved. July 1,2023 through June 30,2024 (Report Amounts in Whole Dollars) A B C 3 E F G H Fund Sources Bond Proceeds Reserve Balance Other Funds RPTTF ROPS 23-24 Cash Balances Prior ROPS RPTTF end Reserve Rent, Non-Admin (07/01/23- Bonds issued on or before Bonds issued on or after Balances retained for future Grants, and 06/30/24) 12/31/10 01/01/11 period(s) Interest,etc. Admin Comments 1 Beginning Available Cash E:$132,058 Balance(Actual requested from 07/01/23) RPTTF amount should exclude 'A'period 1,662,924 76,969 325,947 distribution amount 2 Revenue/Income (Actual 06/30/24) RPTTF amount should he to the BOPS 23-24 total distribution from the County 276,881 12,164,145 Auditor- Controller 3 Expenditures for ROPS 23-24 E.$89,445 Enforceable reclassified for 25- Obligations 132,058 12,352,539 (Actual ----------------------------- 06/30/24)4 Retention of Available Cash Balance(Actual 06/30/24) RPTTF amount retained should only include the amounts distributed as 1,530,866 76,969 reserve for future period(s) 5 SOPS 23-24 No entry required RPTTF Prior Period Adjustment RPTTF amount should tie to the Agency's BOPS 23-24 PPA form 137,553 submitted to the _ CAC 6 Ending Actual $ 0 $ 0 $ 0 $ 276,881 $ 0 Available Cash Balance (06/30/24) Cto F=(1+2-3 -4),G=(1+2-3 -4-5) hops://rad.dotca.gov/rops/annual/cash-balance 1/1 Successor Agency Res. No. 2025-04 STATE OF CALIFORNIA COUNTY OF ORANGE ) ss: CITY OF HUNTINGTON BEACH ) I, LISA LANE BARNES the Clerk of the Successor Agency to the former City of Huntington Beach Redevelopment Agency, Huntington Beach, California, DO HEREBY CERTIFY that the foregoing resolution was duly adopted by The Successor Agency to the Redevelopment Agency of the City of Huntington Beach at a regular meeting held on December 16, 2025 and that is was so adopted by the following vote: AYES: Board Members: Gruel, Kennedy, McKeon, Burns, Van Der Mark, Williams NOES: Board Members: None ABSENT: Board Members: Twining ABSTAIN: Board Members: None Clerk of The Successor Agency to the Redevelopment Agency of the City of Huntington Beach, California