RESOLUTION NO. 2025-01
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, 2025 - JUNE 30, 2026 ("ROPS 25-26") 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, 2025 and continuing through June 30, 2026 ("ROPS 25-26") which is attached hereto as Exhibit A; and
After reviewing ROPS 25-26, 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 25-26; 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 25-26 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 25-26 on the Successor Agency website once approved by the Oversight Board to the Successor Agency; (ii) transmit ROPS 25-26 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 25-26 as may be necessary to submit ROPS 25-26 in any modified form required by DOF, and ROPS 25-26 as so modified shall thereupon constitute ROPS 25-26 as approved by the Successor Agency pursuant to this Resolution.
24-15770/364201 1
RESOLUTION NO. 2025-01
The Successor Agency authorizes the Executive Director, or designee, to make such non-substantive changes and amendments to ROPS 25-26 as may be approved by the Executive Director of the Successor Agency and its legal counsel, ROPS 25-26 as so modified shall thereupon constitute ROPS 25-26 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 _ _ day of January, 2025.
Chairperson
REVIEWED AND APPROVED:
Executive Directo
APPROVED ASTO FORM:
plie pul
24-15770/364201 2
EXHIBIT A
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
FOR THE PERIOD JULY 1, 2025 THROUGH JUNE 30, 2026
("ROPS 25-26")
[behind this page]
Recognized Obligation Payment Scehdule (ROPS 25-26) - Summary Filed for the July 1, 2025 through June 30, 2026 Period Successor Agency: Huntington Beach
County: Orange
25-26A Total 25-26B Total
Current Period Requested Funding for Enforceable Obligations (ROPS Detail) (July - December) (January - June) ROPS 25-26 Total Enforceable Obligations Funded as Follows (B+C+D): $ - $ Bond Proceeds $ $ - $
Reserve Balance $ $ $
D Other Funds $ - $ - $
Redevelopment Property Tax Trust Fund (RPTTF) (F+G): $ 4,862,480 $ 5,906,018 $ 10,768,498 RPTTF $ 4,737,480 $ 5,781,018 $ 10,518,498
G Administrative RPTTF 125,000 $ 125,000 $ 250,000
H Current Period Enforceable Obligations (A+E): 4,862,480 $ 5,906,018 $ 10,768,498 Certification of Oversight Board Chairman: Signature Title Pursuant to Section 34177 (0) of the Health and Safety Code, I hereby certify that the above is a true and accurate Recognized Obligation Payment Schedule for the above named successor agency. Signature Title
Huntington Beach Recognized Obligation Payment Schedule (ROPS 25-26) - ROPS Detal July 1, 2025 through June 30, 2026
(Report Amounts in Whole Dollars)
V
Total 25-26A (July - December) 25-26B (January -June)
Outstanding Fund Sources Fund Sources
ROPS 25-26 Bond Reserve 25-26A Bond Reserve 25-26B
Marcemend Marcemen
Iter & Project Name/Debt Obligator Obligation Type Sycauton Date Termination Date Payee Description/Project Scope Project Area Retired Tota Proceed: RPTTF Admin RPTTF Proceeds Malance Other Funds CRETTE admin ReTH Tota 42,959,944 5 10,768,493 31 4.862,480 51 1S 5.7810183 125,000 S 5.906.018 Merged
Bonds Issued On
2002 Tax Allocation Bank of New Tax Allocation Bonds Debt 12/31/10 |8/19/2002 8/1/2024 York Trust Co. Service Payments Merged
Bonds Issued On
1999 Tax Allocation or before Bank of New Tax Allocation Bonds Debt Refunding Bands 12/31/10 1/12/1999 18182024 York Trust Co. Service Payments Y Merged
Arbitrage Tax Allocation Bonds arbitrag
2002 Tax Allocation Compliance coste calculaton record Ir Refunding Bonds Fees 11/17/2010 6/30/2024 Specialist Compliance Merged
Tax Allocation Bonds arbitrage
1000 Tay Allanation Compliance rebate calculaton- Federal IRS Refunding Bands Fees Specialist Compliance • Y
Merged
2002 Tax Allocation Bank of New Tax Allocation Bonds- Payment Refunding Bands Fees 6/19/2002 (B/1/2024 York Mellon to Fiscal Agent Y Merged
1999 Tax Allocation Bank of New Tax Allocation Bonds- Payment [Refunding Bonds Fees 1/12/1999 e/1/2024 York Mellon to Fiscal Agent Y 12 Merged
Emerald Cove 2010 Series Bonds Issued On Emerald Cove 2010 Series A A Lansa Revanu or before Lan kavana Kalindin
Refunding Bonds 12/31/10 5/13/2010 (S/1/2021 US Bank
141 Bonds Debt Service Payments Merged
Property Tax Sharing
Dierositionand Davalarmani
development of hotel, retail
estaurant, and public parking
of the DDA and the Sith
CIM Group, LLC Implementation Agreemen
and Kane! are entered into from Jum
Project, Parking & Progre Pakang Mixed-Us OPADDA Ballmer and 999 to November 2008 Infrastructure Construction 6/1/1999 9/30/2033 Berkkman 5184,886 N S 677,904 677,904 5 677.90400 Property Tax Shaning
Agreement under the
Dierosition and
Development Agreement
(DDA) and Sixth
Implementation Agreement for
the shrand proicets parking
Strand Project Additional OPADDA/ structure authorized on January Parking Construction 1/20/2009 CIM Graup, LLC 20, 2009 Merged 444,377 Ns 49,576 49,576 49,576.00 13% anoreable rousite
requirement pursuant to
arcipation Agreement
bligation, 5% very-low income
the Housing Authority. The
Developer is teoutred to rovide
Pacific City- Very Low OPADDA/ the remaining 10% on site. ncome Units Construction |10/16/2006 11/26/2024 Makar Properties Merged 21 Owner Participation Agreement
he develcoment of the three
story building at the Oceanview
anda mini owner
plementation Amendment
Participation Agreement OPADDA/ Development
lent Differential Agreement Construction S/28/1991 12/31/2017 Merged 29 Property Tax Sharing
Agreement required under the
ms of the Owner Participation
noise a curemen t
enforce obligation
Bella Terra Parking
rastructure Property Tax OPA/DOA/ [Bella Terra
Sharing Agreement Consalon 10/2/2000 9/30/2025: Merged
agreement approved on
ctober 4. 2010 for construction
anshumton is complete and
nanced by property tas
allocations eludes legal
Bella Terra Phase II Bella Terra Villas.
Property Tax Sharing OPADDA LC and Kane equirements to implement Construction 10/4/2010 1/1/2036 Ballmer Berkman abigation. norcement Merged 10494 364 S1,342,oz 1,342,620 S 1,342,620.00 50 Successor Successor Agency
gency, Kane ministrative obigations
almer, Keyse rolsung to maine nine
Enforcement of Successor
Marsion. and nayment on enforceab?
lApency dissoluton Ineraed and
Davis Farr Petal obligatons and other activiies Southeast 2/1/2012 |11/26/2040 as required by AB 1X26 Coastal 3.750.000 N≤ 250,000 125.000 ≤ 125,00000 125,000 s 125,000.00 Statusorily required annual
Successor Agency Financial inancial statement audit of
Statement Audit Dissolution Audits 11/4/2013 8/1/2025 Davis Farr LLP Successor Agency. Merged 10,000 N s 10.000 10,000 10.000 00 79 City/County Loan Legally Binding Operative
(Prior Agreement Principal Amount -
ly transacton 0 2814P per 61 8/2009 1G/1/2030 Beach Huntington 31.74 sued or May 8. 2309 Merged 119 Land Sale Emerald Cove
Cry County Lear
Natarfront Commero: 06/28/11)Propert Coyot Huntrgton Acquiation of Watertort Master Site Plar y transacton |9/19/1988 6/30/2040 Property Merged 23.076,317 NS 8439,398 4,000,000 4.00D.000 4,439.398 4438,398