RESOLUTION NO. 2023-03
A RESOLUTION OF THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY
OF THE CITY OF HUNTINGTON BEACH APPROVING AN AMENDED RECOGNIZED PAYMENT OBLIGATION SCHEDULE 23-24B FOR THE FY 2023-24 FISCAL PERIOD OF JANUARY 1, 2024 TO JUNE 30, 2024, SUBJECT TO SUBMITTAL TO, AND REVIEW BY
THE OVERSIGHT BOARD AND THE STATE DEPARTMENT OF FINANCE UNDER CALIFORNIA HEALTH AND SAFETY CODE, DIVISION 24, PART 1.85; AND,
AUTHORIZING THE POSTING AND TRANSMITTAL OF THE ROPS
WHEREAS, the former Huntington Beach Redevelopment Agency ("Former Agency") previously was a community redevelopment agency that was previously organized and existing under the California Community Redevelopment Law, Health and Safety Code Section 33000, et seq., and previously authorized to transact business and exercise powers of a redevelopment agency pursuant to action of the City Council of the City of Huntington Beach ("City"); and WHEREAS, Assembly Bill x1 26 added Parts 1.8 and 1.85 to Division 24 of the California Health and Safety Code, which caused the dissolution of all redevelopment agencies and wind down of the affairs of former agencies, including as such laws were amended by Assembly Bill 1484 and by other subsequent legislation ("Dissolution Law"); and WHEREAS, as of February 1, 2012 the Agency was dissolved pursuant to the Dissolution Law, and as a separate public entity, corporate and policy the Successor Agency to the Huntington Beach Redevelopment Agency ("Successor Agency") administers the enforcement obligations of the Former Agency and otherwise unwinds the Former Agency's affairs; all subject to the review and approval by an oversight board ("Oversight Board"); and WHEREAS, Section 34179 provides that the Oversight Board has fiduciary responsibilities to holders of enforceable obligations and the taxing entities that benefit from distributions of property tax and other revenues pursuant to Section 34188 of Part 1.85 of the Dissolution Law; and
WHEREAS, Section 34177(m), 34177(o) and 34179 provide that each ROPS is submitted to, review and approved by the Successor Agency and then reviewed and approved by the Oversight Board final review and approval by the State Department of Finance ("DOF"); and WHEREAS, Section 34177(o)(1)(E) of the Dissolution Law authorizes that "[o]nce per period, and no later than October 1, a successor agency may submit one amendment to the [ROPS] approved by the department pursuant to this subdivision, if the oversight board makes a finding that a revision is necessary for the payment of approved enforceable obligations during the second one-half of the [ROPS] period, which shall be defined as January 1 to June 30, inclusive. A successor agency may only amend the amount requested for payment of approved enforceable obligations. The revised [ROPS] shall be approved by the oversight board and submitted to the department by electronic means in a manner of the department's choosing. The department shall notify the successor agency and the county auditor-controller as to the outcome of the department's review at least 15 days before the date of the property tax distribution"; and RESOLUTION NO. 2023-03
WHEREAS, pursuant to Sections 34179.6 and 34177(I)(2)(B), the Successor Agency is required to submit the ROPS to the DOF with copies to the County Administrative Officer, the County Auditor-Controller, and the State Controller's Office at the same time that the Successor Agency submits the ROPS to the Oversight Board for review; and WHEREAS, the Successor Agency has reviewed the draft Amended ROPS 23-24 B and desires to approve the Amended ROPS 23-24 B and to authorize the Successor Agency staff to transmit the Amended ROPS to the Oversight Board; and
NOW, THEREFORE, the City Council of the City of Huntington Beach does hereby resolve as follows:
SECTION 1. The foregoing recitals are incorporated into this Resolution by this reference, and constitute a material part of this Resolution.
SECTION 2. Pursuant to the Dissolution Law, the Successor Agency approves the Amended ROPS 23-24 B, which schedule is incorporated herein by this reference; provided however, that the Amended ROPS 23-24 B is approved subject to transmittal of the Amended ROPS to the Oversight Board for review and approval with copies of the Amended ROPS to be sent concurrently to the DOF, the County Administrative Officer, the County Auditor-Controller, and the State Controller's Office. Further, the Community and Economic Development Director, or her designee, in consultation with legal counsel, is hereby authorized to make augmentations, modifications, additions or revisions as may be necessary or directed by DOF, and changes, if any, will be reported back to the Successor Agency and the Oversight Board SECTION 3. After approval by the Oversight Board, the Successor Agency authorizes transmittal of the approved Amended ROPS 23-24 B to the DOF, the County Administrative Officer, the County Auditor-Controller, and the State Controller's Office.
SECTION 4. The Chief Finance Officer, or her designee, is directed to post this Resolution, including the Amended ROPS 23-24 B, on the City/Successor Agency website pursuant to the Dissolution Law.
SECTION 5. The Secretary of the Successor Agency shall certify to the adoption of this Resolution.
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2 23-13370/317837
RESOLUTION NO. 2023-03
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 5th day of September 2024.
Chairperson
REVIEWED AND APPROVED:
Executive Director
APPROVED AS TO FORM:
cal
Jeneral Legal Counsel
23-13370/317837
RESOLUTION NO. 2023-03
EXHIBIT A
RECOGNIZED OBLIGATION PAYMENT SCHEDULE 23-24 B
FOR THE SIX-MONTH FISCAL PERIOD JANURY 1, 2024 TO JUNE 30, 2024 (attached)
23-13370/317837
Huntington Beach
ROPS 2023-24 Amended
Summary. Detail Submission
Authorized Requested
Requested Funding for Obligations Amounts Adjustments Amended Total A Obligations Funded as Follows (B+C+D) 0
B Bond Proceeds 0
Reserve Balance
D Other Funds
Redevelopment Property Tax Trust Fund 3,520,500 10,000,000 E 13,520,500
(RPTTF) (F+G)
RPTTF 3,395,500 10,000,000 13,395,500
G Administrative RPTTF 125,000 125,000
H Current Period Obligations (A+E) 3,520,500 10,000,000 13,520,500 Huntington Beach
ROPS 2023-24 Amended
Summary. Detail Submission
Filter Export to Excel
AUTHORIZED AMOUNTS REQUESTED ADJUSTMENTS
Total
Outstanding Bond Reserve Other Total Hond Reserve Other Admin Total Item Obligation Name Obligation Type Balance Proceeds Balance Funds RPTTF RPTTF Authorized Proceeds Balance Funds RPTTF, RPTTF Adjusted Notes TOTAL 31,792,044 • 3,395,500 125,000 3,520,500 - 10,000,000 - 10,000,000 :
8 2 Hyatt Regency OPA/DDA/Construction
Huntington Beach
Project
0 3 2002 Tax Allocation Bonds Issued On or 19,500 19,500 Refunding Bonds Before 12/31/10
1999 Tax Allocation Bonds Issued On or 9,000 9,000
Refunding Bonds Before 12/31/10
0 5 2002 Tax Allocation Fees
Refunding Bonds
8 6 1999 Tax Allocation Fees
Refunding Bonds
0 8 2002 Tax Allocation Fees
Refunding Bonds
1999 Tax Allocation Fees
Refunding Bonds
฿ 12 Emerald Cove 2010 Bonds Issued On or
Series A Lease Before 12/31/10
Revenue Refunding
Bonds
@ 14 Strand Hotel and OPA/DDA/Construction 4,970,141
Mixed-Use Project,
Parking &
Infrastructure
0 15 Strand Project OPA/DDA/Construction 337,219
Additional Parking
6 17 Pacific City - Very Low OPA/DDA/Construction
Income Units
0 21 Abdelmudi Owner OPA/DDA/Construction
Participation
Agreement/Rent
Differential Agreement
6 29 Bella Terra Parking OPA/DDA/Construction 3,487,056 1.939,365 1.939.365 Infrastructure Property
Tax Sharing
Agreement
6 30 Bella Terra Phase I| OPA/DDA/Construction 12,130,583 1,417,635 • 1,417,635 Property Tax Sharing
Agreement
0 50 Enforcement of Admin Costs 250,000
Successor Agency
dissolution
compliance and
monitoring per AB
1X26 and AB1484
8 64 Successor Agency Dissolution Audits 10,000 10,000 10,000 Financial Statement
Audit
0 76 Waterfront Hyatt Project Management
Regency Hotel (Parcel Costs
5), Waterfront Hilton
Hotel/Parcel C (Parcel
6 and 7)
077 Waterfront Hyatt Project Management -
Regency Hotel (Parcel Costs
5), Waterfront Hilton
Hotel/Parcel C (Parcel
6 and 7)
0 78 Waterfront Hyatt Project Management
Regency Hotel (Parcel Costs
5), Waterfront Hilton
Hotel/Parcel C (Parcel
6 and 7)
0 79 Land Sale Emerald City/County Loan (Prior
Cove 06/28/11, Property
transaction
0 90 Unfunded CalPERS Unfunded Liabilities
Pension Liabilities
AUTHORIZED AMOUNTS REQUESTED ADJUSTMENTS
Total
Outstanding Bond Reserve Other Admin Bond Reserve Winer Admin Total Item a Obligation Name Balance Proceeds Balance RPTTF Authorized Proceeds Balance Funds APTTF RPTTF Adjusted Notes & 91 Unfunded
Supplemental
Retirement Liabilities
6 92 Unfunded OPE
Liabilities
8 93 Land Sale Emerald
Cove
4 95 Huntington Center
Redevelopment Plan
development
8 96 Main-Pier
Redevelopment
Project Phase Il
9 97 Development of
Downtown Main-Pier
project area
• 98 Third Block West
col esidential
project
= 99 -Alley
im Project
@ 100
8 101
Ho arking
ect
• 102 Wa - 10,000,000 - 10,000,000 Approved as
Co Master an
Sit enforceable
obligation
by DOF in
letter dated
05/19/2023.
• 103 Strand Project
/ 104 Operative Agreement
for the Huntington
Beach Redevelopment
Project