SR-12-09-1986-CC/RA - 3: • ~
C/'ED: EDD: CSR:
Council Meeting: 12/9/86
y,~_~a ~
L ~~ -3
aEC ~9 ~l96
Santa Monica, California
T0: Chairperson and Redavelopment Agency Board
FROM: Redevelopment Agency Staf~
SUBJECT: Transmittal of 1985-86 Annual Report for the
Redevelopment Agency of the City of Santa Manica
INTRODUCTION
The California Health & Safety Code requires that every
redevelopment agency file an annual report with the California
Hausing and Community Development Department within six months of
the end o~ the agency's fiscal year, This staff report transmits
the Santa Monica Redevelopm2nt Agency's Annual Report for Fiscal
Year 1985-86, whzch includes an independent financial audit,
pursuant ta Health and Safety Code Section 33080.
ANNUAL REPORT CONTENTS
As required by law, the Agency's Annual Report includes:
1) A specific description of thE agency's ac~ivities affecting
housing and displacement.
2) An independently prepared financial auda.t repo~t conducted in
accordance with generally accepted auditing standards.
3) A fiscal statement that provides information on the
outstanding ir~debtness af and the amount of tax increment
revenue generated by the agency and by each project.
4) Any other informatior~ which the agency believes use~ul to
explain its programs and activities.
Far the audit portion of the Annual Report, the Agency contracted
with the accounting firm of Peat, Marwick~ Mitchell & Co. far an
~ /7 +~
~ ~ - ~e ~` ~
S 1 T
independent financia~ audit of the fiscal year July l, 1985
through June 30, 1986. The audit was performed to comply with
standards set out in Section 33080.1 af the Hea~th and Safety
Code, Peat, Marwick, Mitchell & Co. found that the Agency's
records fairZy present the fihancial position of tha various
funds and account groups of the Redevelopment Agency as af June
30, 1986 and found no negative ~udit findings.
The Annual Report also reviews the objectives and activities of
the Agency in FY 1985-86, previews the Agency's objectives and
work plan for FY 1986-87, and provides recommendations for naeded
lagislation to carry on a program of housing and comrnunity
development.
RECOMMENDATIONS
It is recommended that the Redevelapment Agency approve the
Annual Repart and direct the Executive Director to transmit the
repart to the California Departm~nt of Housing and Community
Developmen~.
Prepared by: Christopher S. Rudd, Acting Manager
Economic Development Division
Community and Econo~ic Deve~opment Department
Attachment: Santa Monica RedeveJ.opment Agency Annual Report
for Fiscal Year 1985-86
ratocc
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~ • l
SANTA MONICA RED~VELOPMENT AGENCY
ANNUAL REPORT FOR FISCAL YEAR 1985-86
~ • f w
TABLE OF CONTENTS
Page
zntroduction 1
Descripti.on of Redevelopment Projects 1
Agency Objactives and Activities for Fiscal Year ~985-86 2
Agency Objectives and Wark Plan for Fiscal Year Z986-87 3
Agency Activities Affecting Housing and Displacement 4
Recommendations Concerning Needed Legislation 5
Combined Financial Statement Appendix A
Fiscal Statement Appendix B
raarl
ANNUAL REPORT FOR FISCAL YEAR 1985-1985
SANTA MONICA REDEVELOPMENT AGENCY
INTRODUCTIQN
As raquired by California Hea~th & Safety Code Section 33080,
each redevelopment agency must file an annual report with the
Califarnia Housing and Community Development Department within
six months of the end of the agancy's fiscal year. The annual
report must contain for the agency and each praject:
1) A specific description af the agency's activities affecting
housing and displacement.
2} An independently prepared financial audit report conducted in
accardance wi~h genera~ly aGCepted auditing standards.
3) A fiscal statement that provides infor~ation on the
outstanding indebtedness of and the amount of tax increment
revenue generated by the agEncy and by each project.
4} Any other information which the agency be~iaves useful to
explain its programs and activities.
This annual report for the Santa Manica Redavelopment Agency
contains the informatzon required by State law and alsa includes
a review of the objectives and activities of the Redevelopment
Agency in FY 1985-8&, previews the Agency's abjectives and work
plan for FY 1986-87, and pravides recommendatians for needed
legislation to caxry on a program of housing and community
development.
DESCRIPTION OF REDEVELOPMENT PROJECTS
The Santa Monica Redevelopment Agency has twa active
redevelopment project areas:
1) the ocean Park Redevelopment Project, and
2) the DQwntown Redeuelopment Project.
The final phasa of the dcean Park Redevelopment Project consists
of the construction of:
].) i53 units of market rate cQndaminiums;
~) 55 units of affordabZe replacement housing;
3) a 5.9 acre park within the project area boundaries
(ocean View park);
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4) beach improvements outside the project area baundaries
extending from Bickne~~ to tha southern City limit; and
5) the rehabilitation of 80 units of existing rental
housing.
The Downtown Redevelopment Project consists of a 570,OOd square
foot regianal shopping center, Santa Monica Place, and two
publicly-owned parking structures which provide approximately
2,200 spaces.
AGENCY OBJECTIVES AND ACTIVITTES FDR FISCAL YEAR 19$5-86
In FiscaZ Year 1985-86, the Santa Monica Redevelopment Agency
accomplishad its objectives for the fiscal year and canducted the
following activities:
Ocean Park Praject
Objective: Coordinate the implementatian af the Ocean Park
Redeve~opment Praject on- and off~site
improvements.
On and aff-site impravements included nat anly the the on-site
park and off-s3te beach impravements, but alsa the rehabilitation
of the apartments at 175 ~cean Park Boulevard, the canstruction
of 55 new units in the Ocean Park neighborhood, and the
rehabiZitation and canstructian of units using the Agency's
housing trust fund, all of which are o~tside th~ boundaries of
the Qcean Park Redevelopment Praject.
Ta accomplish this objective, the Agency began construction af
both tha on-site park (Ocean View Parky and the o~f-site beach
improvements early in the fisc~I year. Construction progressed
on schedule and by June 30, 1986, the on-site park was about 75~
complete and the off-site beach improvements were approximately
50~ complete.
During the fiscal year, the Agency substantiaZly completed the
rehabiZitation of apartment units at 175 Ocean Park Boulevard and
worked with the Los Angeles County Housing Authority to establish
tenant selection criteria. By June 30, 1986, applications were
being accepted for the units.
The Agency p~epared and established criteria for the de~elopment
of 55 units of replacement housi~g. Sites had been acquired the
previous fiseal year. The Agency selected a non-profit,
commun~ty-bas~d, housing development cQrporation to develop the
units and approved an agreem~nt with the corporation for planning
and design services. Community workshops were held to solicit
neighborhood input on the housing projects to be constructed. By
June 30, 1986, all City Planning Department, Architectural Review
Board, and Coastal Commission approvals were granted and
constructiQn was ready to begin.
- 2 -
Finally, funds from the Ocean Park Redevelapment Project Low and
Moderate Income Housing Trust Fund, combined with the Downtown
Project Trust Fund, were us~d to assist in acquiring and
rehabilitating 33 units in the City for persons and familzes of
~ow and mod~rate income.
Downtown Project
Objective: Monitor the aperation af the Downtown Project.
During Fiscal Year 198~-86, the Agency adruinistered thE Downtown
Low and Moderate Income Housing Trust Fund. Funds fr~m this
trust fund, combined with those from the ocean Park Redevelopment
Project Low and Modarata Income Housing Trust Fund, were used to
assist in acquiring and rehabilitating 33 units in the City for
persons and families of low and moderat~ income. The Agency also
used its Vitale Gilpin housing funds to assist in constructing
projec~ impravements for the llth Street public housing project,
~o assist in a senior shared housing praject, and to assist in
the operatian of a pragram to provide shelter to the homeless.
The Vitale Gilpin Fund is a lEgal settlement requir~ng the Agency
to set aside a portion of Agency funds from the Downtown
Redevelopment Project to fund programs that provide housing for
low and very Iow income persons and families.
During the fisca~ yea~, the City substantially completed a
sp~cific plan for the revitalization of the Th3rd Street Mall
area adjacent to the Downtown Redevelopment Praject. In Deeember
1985, the Redevelopment Agency and the City faund that the
improvement plans for the Third Street Mall area were "of
benefit" to the Downtown Redevelapment Praject and authorized the
execution af a cooperation and raimbursement agreement between
the twa entities.
AGENCY OBJECT3VES AND ~ORK PLAN FOR FISCAL YEAR 1986-87
The Agency has the fo~lowing objectives and workplan far the
upcoming fiscal year 1986-87:
Ocean Park Redevelopment Project
Objecti~e: Complete construction of the Ocean Park
Redevelopment Project beach plan and monitor
imp~ementation of off-site housing improvements.
Workplan: 1) Monitor construction of the Beach Plan and
related on-site improvements.
2) Monitor private developer implementation af
Citywide Housing Assistance and Rehabilitatian
Program ( CHARP ) .
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3} Coordinate implementation of Ocean Park off-site
Affordable Housing Progra~ (55 units) with the
Housing Division:
a) Moni~or financing plan and site disposition.
b} Monitor construction by non-prafit developer.
Downtown Redevelopment Project
Qbjective: Monitor the housing activities resulting from the
Dawntown Project and the preparation for
construction o~ the Third Street Mall area
impravements which are "of benefit" ta the Downtown
Proj ect .
Wo~kplan: 1) Monitar private develapar implementation af
Citywide Hausing Assistance and Rehabilitatian
Program (CHARP}.
2) Monitor private developer ianplementation af
Vitale G~].pin assisted housing for low and vEry
low income persans and tamilies.
3J Coordinate with the City in preparing for
construction of the Third Street Mall area
improveanents .
AGENCY ACTIVITIES AFFECTING HOUBING AND DISPLACEMENT
Gavernment Code Section 33080.4 requires that the Annual Report
include the following information regard3.ess of the funding
source far the activities. This information includes only those
residential projects which actually received a Certificate of
Occupancy fram the City in Fiscal Year 1985-86.
FY 1985-86
Na, of units Activity
Project areas
Agency Downtown Ocean Park
0 0 0 The total number of households,
including households for persons and
families of low or moderate income,
that were disp].aced or moved from
thair dwelling units as part of a
redevelopment project of the Agency
during the previous fiscal year.
D 0 b The total number of households that
the Agency estimates will be
displaced or will move fram their
- 4 -
dwellings as part of a redevelopment
praject of the Agency during the
present fiscal year.
0 0 0 The total number of dwelling units
housing persons and families of low
and moderate incame which were
dastroyed or removed from the ~ow
and moderat~ incame housing market
during the previous fiscal year as
part of a redevelopment pro~~ct of
the Agency.
33 0 0 The total number of Agency-assisted
units constructed~ rehabilitated,
acc~zired, or subsidized for
occupancy at an affordable cast to
persons and families of low and
maderate income.
RECOMMENDATIONS CONCERNING NEEDED LEGISLATION
Pursuant to Health and Safety Code Section 33080, this report
should transmit any recommendatians concerning needed legislation
far redevelQpment agencies. At this time, there are na bills
before the State legislature which could ha~e an impact an the
Agency's ability to carry on a program of r~deve~opment given the
status Qf both project areas. Therefore, no recommendations
regarding needed legislation are provided. The Agency will
continue to monitor legislative information an items concerning
redevelopment.
Prepared by: Christopher S. Rudd, Acting Manager
Economic Development Division
Gommunity and Economic Development Department
Mike Dennis, Directar of Finance
raannrpt
- 5 -
~ PEAT
MARW~CK
,
i
~AT"~"~c.~-i r~ ~ T'-
,ro C.c.t ~4 -~
DE~ 9 1986
T_~~' ~~EVyr QPi~~TT AGE~TCY OF THE
CI~'Y OF S.'-~1~1TA :~!ONICPi, Cr'1LIFORNZA
Cambined r^ina~.cial Statements
June 3Q, i9s~
(w~th ~ccountants' Re~or~ T~~?"@Oit~
PEAT
NtAR1ti'f~K
T~e l~embe~s of t:~e Renevelopment ~gency ar
the City of Santa 'Koni~a, Cali~orn~a:
Yeat.'~larwlcL. tilit~nel~ FL Co
C°r'.diec R:b~.:. ~.::.: u ::ir_~
-~, s. L_r F~~-s~r~~ s-~~z,
~; an~t~~z: ~cd:,;. _ G ~:~+~~
~ve have examine~ the cflmhine~ ba~ance sheet of t'~~ 'edeveiogme~t y~QIlC`' or t~e
City of 5anta '~on~ca, Cal~forna.a as of June 3~, ?98b ~nd t~e ~e~ated co~~i-~ed
statement of reve*~ues, expenditures and C:~anges An ~und b~Iances =eY ~'7e Z281"
t:~en ended. Cur exam~nat~on was nade :n accoriance wit~ ~~neral~v accepteri
audzting standards and, accordir.giy, include~ sucn tests ei tre accoun~ing
;eco~ds and such other auditing procedures as we cons~dere~ zecessart* ~n the
cir~umstane~s.
In our opinion, ttte aforeme~tione~ eombined ~i.-~anc~~~ statPmer_~s t~rese~t ~a-r=y
t;~e financial position of the ~edevelopme .t ~gency of t?~e C~tv of Santa ~ionica,
Cali~ornia at June 30, I986 and the resu~.ts of its operat~ans~f~Y tne Le4r t~en
en~ed, in conformity with generall~ acce~ted aecouat,~g pr~~ac-p-es app=~ed or. ?
basis consistent with that of the precedirg vear.
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~o~Cirec ~alance Sheet
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13,4!~3.286 s~,OSS - 3~.30',~30 4e,776,601
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1:~_°~e~ta~ ;.-one_t~ La~es ~ :E?.3C?: -9S.C~~:. - =,~c~.se~
In*_ezest 3Ev.~v~ ~E~=, _~ - 544.'fi~+
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_.,~al p_c?ec° =etiEnues ?~G.~'6 =.v5~, :F - _3,~=~.854
~ess prc~ect EF_~]£.::_~~~es
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^o~s~ng =2E,9u7
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72,5G0 - 54-,~•~7'r
3,85~,_~~ 1,742,;~D; b,92~,67b
t2,4°~,8ili (i,`r42,UG~; (v.Zbv,822)
2.~39,32~ - 2,~3°,320
L9E,Gc~3 - 1,1~3,E3~
- 1,385,J1~ 1,~E~,C?1
C247,620: - (1,888,:431
2,39C~,17: _,38~,0=5 2,789.~22
_~na~~>>d uses 44,C•8G ('~%.~541 i~~5,9&6; (G'S,ot~C;
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~'F~:E Ri~Ft'ELOn'_~IF~~ AG£NC~ GF m:iL
CITY OF SA:`dT~ '~0?tICA, ~~..T,~OBl'~=~
l~~otes to CombYne~ ~inanc~~l S~atements
June 30, l~$6
~li Su~ary o~ SiQn_i~cant ~,ccount~n~ Pol~cies
uenerz~
~e ::eLel-elop~er~t tigenc~ o~ t:~~ ~ity of Santa '~:o~ica ~~genc~ i was
~sta~lisre~ br t~e Santa Monica Gitv Cour.c~~ in -?~7 pursliant to t:~e
Gommun~tv ?teCevelopment iaw oi California ~s co~~fied ~n *_~e 5tate of
C~li~arnia Hea~th ana Safet~* Gode. -:~e uur~ose o~ t7e Mgenc; ~s tc
e~ 11Il1113tQ ~~1~t?t aI1C~i t0 ~7i0IDCi~E CCDIIOL.T'1C I'EVitai~z~t~on W~ t_1=.~t 'L1~S :~I:Z~e~~
_ project 2reas o; the City o~ Santa '~4ar_~cG.
s
Tl~e 4geney is ct~r~ent'v -`unde~ througn ~ocal revenue sources. r~~-
F viously, xede~a~. ~unding aad been ~rov=de~ u~~er prog~a~s spanso~2~ ~V
° the i:.5. ~Jepart~ent of ~ia~:s~. :g ~r.C ~'rb~r. ~evei o~~ent (?3'~D; • =arosg~
~:Ds ti7e !~g2riC~ received illIl.~"'~S ~OT it5 CORV~I1~lOP.n1 i;~~~E: ~211e"wc.;. :TD~Y"2ID
(T_tle I} ana t~e Comm~nzt; Deve'o~,nent ~lae:c Gra~t program (C~BG,'•. 3'1
rederal p~og±a~s were p~eviously c~osed aut and ~~e '~genc~'s ~llacation
Fund wras c'osed out ~uring the ye~r.
:~oca1 fun~s are grovided princypally `ro~ ~ncrenenta~ propert} tares ~nd
renta~s for narking fac~lit~es.
Basis of ~ccount~:~~
The acco~pany~ng combined ~iaanc~a~ statemen~s oi the ~gerccv nave been
~repared on the modif~ed accru~l. basis of accour.t~~g. The nodifie^
accrual basis of account~ng is deFZned as t~e bas~s oz accountYng ~.~nder
which revenues are recognized when t'~ey ~eeome bat~ neasurable and
ava~lable to finance operations of tne current per~od. ~'xnendztures are
~e~ognized when the related liabi~ity ~s incurrea, except ~ar priacipal
ar.d intexest on general lang-te~ ^ebt, whicn ~s rec~gnize~ w'--ien due.
Investments
?nvestments ~re stated at eost and genera~~y consyst of Federal
Government-~acked secur~ties.
Long-TeYr~ Liabzlities
Long-term liabi~ities are accounted for in the Ge:~e~al Long-T_e~m Debt
Account Group.
1
•~~
~
: ~'HE F.EDE ~ r~,G~ASE?~ T AGEi'~ CY OF "~
- CITY Cr 5~i1VTA M~Pd:~C.~, C.~,LIFOR..'~i..A
Notes to Co~bined F~nancial 5tatement~, Cont~nued
T~ =ac~'e~ent Revenues
T~cremental proaerty taxes a~e considered as ~r~;eet =evenues b~ t:~e
~~encr w~en they become botZ measura~3e and av~ilab?e for fi~a_*tc-n~ ~he
,ge*~c~' S T_'@~EV~~ O~IDeil~ activ~t~es dur~ng t?~e pea-. Prapertu taxes 3re
ccr.si~e~eu av~i~ahke ~.f received wztnin 60 days tollow~ng ve~r-end ~n
~c~or~ance with generGllv accepted aeco~nting pr~nciples.
~ncremental property tax reveanes re~resent propertp taxes collec±e~ `ron
4he eacess o~ ta~es leviec~ and co~-eeted ezc:~ year on anti reeeve~o~Gneat
nroiect ove~ that ama~nt wh3c~ would ?~ave been ~evied and co?lected a~
t:~~V~ase ~~ea: property tdx assessne~t. 9 p~oper~v ~ax hase yeaT ~s
aetermined to be t?~e year prior to the es~abl~sh.gen't of a~eeevelopnent
~roject area.
?e~ort_n~ E~t~t~
The Pedevelopmer.t Agency of the City o~ San~a ?~?anica is a compo~ent u:~it
of t~ze City of Santa '~fonl~a as defined by the National Coun~iZ on Govern-
~e~tal yc~ounting's Statement 'do. 7 as adopted by t'.:e Govern~ental
yccount~Ag Stan~ards Board. ~s sueh, the opEratzons of the ~gency are
a~so ~~c'uded in the CoQprehensive Ann~a1 Financial Report of the C~tv of
Santa '~orczca.
Tata? Colu~nn
'~'?:e coiumn ~n the accompanying com~ined financzal s~tateme~ts eapt~oned
"~otal (memorandum only)" is not necessary for a fair presen~ation in
accordan~e w3.th generally accepted aceount~ng gri~cipZes but is presented
as add~tianal analytic data.
!~ 3on~s ~nd ~Iotes Payable
On ?~ovember 2, 1978, the Agency authorized the o~fering oF $i4,!+TO,OOd in
Downtown Redevelopment Project parking Lease ~evenue Sonds. °roceeds
from the bonds have been used by the Agencv to finance the acquisition
a:~d construction of two garages (the Parking Faci~ity), whlch p~o~*ide
parking facilitiES for a major shopping center in the City of Santa
:~onica.
On October 1, I°84, the ~edevelopment ~~ency authorized the oxfering o~
$5,700,0~0 in Ocean Park Pro~ect Bonds in order to provide a~ditional
f~nds to aid in finaneing projects '~cnown as Ocean Park 1'ro~e~t nunbe~-s
1(a} a:~d 1(b).
~
~
2
TF?~ R~A~i =..G?':E:: ' r" G:IC`~ _ 0= Tr~
4rT'~ v= S~~;T__ ":~~1:Iw'-:. ~r'~I~C21~~
I~v~e~ ~c CocC_csd :_~anc_s= 5~a~e~~..~s, Co4t~n~r~ec
_' S~=IDcT~ C; S3I:.]°C~ ..~:35 .'J'_'nl°_ e._~3LLit2C =^r r~ ~r° ~.~~~1CF~~ oc~E~c~
~O'==^'"i2~TF~~ rJe~~ !iCCD:JI.~ u:0::4co~ ]~I'E J.:. _7CC 15 85 ~t__Ck5
_x.-aG~
~__~~ of I__eresz C^__s=~nc~ag. ~z:..__~F- *,a~;.~_~~
T]C..C =S~llE ; SSi]E ~5X° ::Il~ J~i~. 7bF: ~al:? ~2~_R~S "-
..=2°_= t'ci~" SYTG~eCY
~cr_cs i~ilGl'54 ~,-=-~G '~a w.:.,-::u.C:.'G :az_uLS a~cun~= iC`/G=r't- ~a
~-c~ 5u-,vuG li:l"u'_%u6
tc Sb2i;,UG;:~
:i~»-IItOtr= ~_CILCt bDLGS ~._.'L~_ ~C~ ~._~-,.~5rc ~3.4LJ~n~~~' 4c~wCLS cL]aL'.it~ ~~iQ_:'~O rG
~zO~ "~~_'~~,~U~ _..%O'_rOv
tc 5=,~=5,~~~C
Totow ::onds vuts~an~~~o ~ 1;,=~C~,U~C
~ I:: axcit~o~, tn=_ Fgeuct w~s ~~3e~±ed zo the C-_t~ of Saz~a NoFtca for the
{ Aow~o~x.^g gene~a; loaas, sa,t~ ~r_te_est pe_ aenu~ ~ccru~ag o~: ~riLCin~?
o-?}, ~s =ollows.
i
! Dat~ "./rig=.r.6~ :c`.31
! e= amc~n~ =n4e:es- ~ecruec ou~stacZ~ng
` Note pa~a~-e tc r.~te c= no~e ~e ante:est at J~ne 3C, ~9$b
!
CitY cf Santa Nn~~c2 ~ene-a- F~r•~ 1`Gi%&6 S 5~~,3~5 -:~ t - ~1~,38~
€ C_t~ o_` SantF Mo~•~ca GenEr~l Func 1`~~1~8~ 1,1E-_,3^_= ~_.0~ :&,;,~5e 1.~1~,3&6
~ Clty of Santa Mo~rc~ G7Bv Fun~ ;"C1~S~ _.C~5C~,53~ =_.OG 1:.~,:.:'o - wt~,~~u
' G,t~ of Santa Mon~ca Geaez~s= Fuae ~~"~- 'bC 1,.i~E,S:.~ ~~.QC 65.~~~ ~.35t,?3~
Cit~ of S~nta uc~~ca General =und 1-~J./86 1,04u.1_7 _~ fiG 5::,4G6 1,~5~,i23
; Cltr of Santa Moazca CABG =uad lr'`41/ab 363.~5:1 ~~ 0~` ~E,='3 381,523
~ C~ty of Santa A1an~~a Generai Fnne '_i i;~~fic '• .1C1, IL3 .'. i~ -; .~~7 r,435_220
. =ota1 ~ 1~.~~SE. - ~ - - ~.i =~,i61,~3G
~
,=ne abave hones a~d no~es c~e paya~le xrer. ~u~ure t~x ;rcrem~r.t re.~erues
~=e receivec br• the ~ra,7zcts. ~t _s ~a~ ant~c_~~tad t:a'_ ~~es=_ ~otes
' G'-_i '~E =E.aic ~i~h atizi'_a~=e sgerda~l=_ -esources.
~
~ ~
~ -_ ~
.. ---'- -_-__.c:.,__ ~° _ -- - _ , ~ _ . _ _ . - . ~ ` _ ~ ~~Y_ , ° - -
. -_-_> _..'.' ,a''Y- ;_ __ . -.,-- - _ _ - - , - - ~ ; - "_ _ ,:~;,~~-~~:~y ~~_-~ .<-
- -- ~ ~- ` z ~ ~; . _ - - ° - - ° - -
---'y+r~ - __..~..-~......~.~.....~..~. -
- ~ . _ . _ _ .~w~ -_ . . _. . ~ - - ~ _ _-- . ,_ _ "s
'"Ii~ R~~y~~LG`n~~N?' AGENC~ DF THE
CITY JF SA~'~A TMIO:~IC9, C_;Z:I~'OR:dIA
~ Notes to Ca~b~ne~ F_nancial State~er_ts, Continued
~
~; =ntestnents '~~inta~ned bv Fiscal ~gent
~
.. ~owntawn s~edevelagment Pra~ect
~~s part os t=,e covenants ~or the "~.gency' s~owr~tow~ Reaei elcp~e~t
?ro~ee~ Fark~ag Lease Revenue ~3onds, t':e f~sca~ agent is ~aau~ree to
~a~.:~tain ~rree separate c25h fundss as ~al'ows.
3onc~ Service Account
Monies are trans~erred into t~`_s account eac~ ~iay i5 ~n amau~ts
equal to interest due on the ne~t ensc~ing ~nterest pa~*me~t cates.
?n ad~_tio~, on each ~Tavember 'S, an auiount e~ual to t:~e pr~ne~~~l
amo~nt af bonds maturzng on t'~e next easuang ~ecember 1 is
transfer~ed ~nto ti~is aceount.
+ti~orkir_~ Cagital ~~count
The amounts provide~ in this aecovnt are to be ~sed to pa5= a~1• takes
aad assessments Ievied on the Agen~y's interest in the leased
premises, insurance preaiums, annual fiscal eosts of maintenance and
operat~on if the City defaults on the ~ease. The fund is to ~e
maiata?ned at $5,~00.
Reserve Fund Account
~n amount equal to at least the maximum annua~ debt sezvice ar~ount
over the Zife of t'~e bonds is ta be ~aintai:~ed in this accoun~.
?~fanies in the Reserve Fund nay he used by tne Agency, ~irst, for the
pa5=ment of losses susrained by reason of aeeident or dest*_-uction o~
the Parking Faciiity financed bv issuance of the bonds and ~ot
covered by CT~e req~ir~d insurance, so Iong as the balance remaining
in the Fund is equal to SOX o~ ~axinu~ annual ~e~t service, second,
to help redeem t~e bonds autstanding uader cireumstances wne±e t'::e
Parkxng Facility is aot ta be repaired or rebuilt, and t'~ird, for
the payment of i~terest on, and pr~ncipal oi, ~he honds in the event
that rto o~her funds are ava~la~l.e t?~exefore or For t~e final
xetirement of a11 bands then outstanding.
4
~?iE R°D~'C~LCp*~T.;T ~~~:r~~ c. ix~
CT'"Y OF 5~~'"'~ ~iOfiIC~, C_5.L-IF0~2~~Y
Votes to Combinea Firanc-al Stateraents, Cont~aued
~t June 30, 1°85, tne a~oreaentioned accounts ~ef?ected ~ae
~ollowing balances:
7oz~t own
Frc~ecr Boncs
~OE1Q SEy1T~C~ ~UII~ ~ 4]1~i~5
~,'or?ciug Cap~tai. iu~d ~, ~D~
~eserve Fund =,~8°,:CS
~ata~ ~ ~,64~,90~
~. Qcean ?aik ~ece~,=e~opnent D~oject
Ys aart of t:~e covenGnts for tr~e Age~cy's Qcean P~~~ P~o^ect 3on~:s,
t7e fiscai agent is requ~re^ to na~.ztai~ t~e fa~law~ng cash func'.
~an~ Service ~ccount
uanies are transferred ~nto ti:is aeccunt eac:~ P:ay ~ i~ amou*~ts
equal to interest due on t:~e a~~t ensui~g interest patnent ~ates.
In addit~on, oa each A~gust I5, Ga a~ount eauai to the ~rinc~.p21
amount af bor_as ~turz~g on t^e next e~suing ~ctab~r 1 ws
transferred ~ntQ this account.
~t ~uae 3a, 1986, 'tt~e a~orement~one~ aceount Nad a'~a~ance o~
$J02,723.
~) CaAZ~alized Lease
On ?~iay Z, ~978, the City o~ ~aAta Monica ent~red into a l~ase agz~ement
wlth the Agency Lo provide pa_icing for t~~e shogp~ng center iz the
~awntown Pro~ect. The lease ~equires t~ie C~ty to ~ay tre ~gency a base
rental. at an estimated rate of ap~roxi:nately $i,190,QOQ per year, and in
addwtion, the lease requires t:~e Citq to r~ake ada~t~.onal payments each
year sufficient to operate and maiata~n t::e Park~ng Fac~~ity. The lease
est~nds for a period of 35 years 4F repaynent o* t~e bonds ~ssued to
finance constru~tion of t~e Paiking Faci'it~~, w:!icheve?' oecurs eariier.
1~pon ter*nination of the Iease, owners~~g cf t~e Park~.ng Facility will
rest with the Caty. Such lease meets the criterwa of a cap~taliza~le
{ina:~cing lease; however, in aceordance ~,i~~ generally accepted account-
ing principles, this long-term receivable ~s recarded zn the Downtow-n
Pro~ect Fund with an offsetting equal amount of de=er~e~ ~evenue since it
does ~ot represent available spendablE resau~ces. ~t June 30, ~986, the
aresent value of the Iease payments recea.vable from th~ City was
~~3,440,000.
5
PEAT
MaRtti!~C~c
-:e 3car~? of D~rectors
=ne .ecezre~oFme~t ~,gen~y of the
~_~v ~~ Santa '~o~~ca, C~~.i.f~rn~a:
Peat. M19arx~cl., ~~l~tchclt ~ C~3
Certu~~L Pu~~~c y:.:,ourt3-'_s
"~:• j(1lltP FL_.l:iOc S[r~~I
i.U~ ~'lE2l~l Cd11iC,=ii3911~~~
;;e ~~ve e~ami~xed the combined f~nancia? statements of the Redevelaam~nt ~_geney
~~ t.,e Cit~* of Santa Monica, Ca~afornia (?gency) as o~ and for the ~e~r ended
.;uae 3C~, ?°86 an~ have ~ssued our re~ort t~ereon, dated Septe~ber 15, 1986.
Gu_ e~aminatioII was made ~n accazdance w~tr ge~erally a~eepted auditing
s~~ncards a~~, accordzngiv, inel~ded sueh tests of the account~ng reco~:~s snd
s~c: otner audit~ng procedures as we co~siciered necessary in the
c~-cu~stances.
~«e aer~o~ed tne nxoce~'ures contz~ned ~.n t~e ~ublzcat~on entitled Guide~ines
~or ~omp~.~ance _~uaits o~ Caliior~ia ~edevelopment ~gencies as promu~.gated btr
~"e Coatroi~er of the St~te oz Ca~ifornia in connectian with a review of tl~e
~.g~ncy's ~amplianee wit~ Iaws, ~eguZatiQns and administrative reauixements
goveYning 8Ct11'ities of tne Agency, as required by 5eetian 33080.i(a) vf the
~:ea~th arid Safety Code o~ the State af Ca~ifnrnia. The procedures we ~elforned
::ou=d not necessar~.'y disc?ose instancES of noncompliance because they were
tase~? on select?ve tests of acco+~nting records and rElated data.
Du~ing t'~e per~ormance of t?~e aforementioned procedures, nothang came to our
attent~on t~at would ~ead us to l~elieve that the Ageney did ~ot comp~y with
apnlwcahle Yaws, regulations and admir.is~rative requ~rements governi.ng its
activzties. This report is to be used soleJ.y for fil.ings with appropriate
-egL'atory agenciES and is not ~nt~nded for any other purpose.
-~~~;~a,~,w..,;~,`~~ ~~.r.
~e~tember 15, 1986
~ ~~
'
T_
~~WIJAL REP+'~T ~F FINf~i~ICiA~ TRAt~`~ACTTONS
~OR~ 001-R
~ C~r l~u'r~.~v,~ ~ r I'~.l~GV CL~T~IY i r~~x:~.r~ F~R STATE USE ONLY
n State Cantroller ~~' < <~
Di~isioR of ~ocal Gv~errrnent Fiscal Affairs
Cortmunity Rede~elaprnent Reporting Uni.~ ~198450U
p. d g~,~ ~~p ~ Redeve~apment Agency af the City
Sacrarnento, Ca 9425~-5~376 ofi Santa Monica
~' 1685 Main 5treet Raom 2~5
F~scal Vear Ended Junc :iU ~g ~F, Santa Monica, CA 90401
Due within six nanths af tt~e end af rthe apency's fisc~ year ~ i~p ~~
S~ATE USE 4HLY I_ _
~~~ """"`""'
~2:1:i ) ~.`i8-f3712
, T_~E..~oti
!;-•, Lacatian• StrEet Address (Tf d~ffwa+t fr~n above)
~ar~, _ ,~~.
' ~ O °,
f
'4'~`~ ;'~ _
~ _ ; Gity S~ta't.e 2ip Oode
O ~ -_ Jr
~ ~
~
~
N
~
~
^
~
p?~
F
~~
F~GE~I~Y ~1RGFWIZAT~ON ~au~~~,~n~~ ~on~ ~£r~e~~srr~~
~F
~F L AL ~ p~
~ Aedevelopnent +qQency (~~S Code 331QD} ~ W~~ ~~~~.~rS
~ Copnunity Dewe~ophent Ca+~issian 0 Gity Cax~cYl [~ O~ther
~su~e~ed ~e~ad _ -- ---- ~~~ code 3a~ya~
hET"BERS OF 11-E (3Cl!l1E77i+JIhl~ BOOY P~rt Prepered @y hone
E3i] ~ J.l a~s ~?.13 ~ 45t.i-fS766
ChaiipeiSOn netlbe]C Stz~et AOdress
~Ta-nE~.~ C;~liri IIc~rb Katz 16~35 T~lain 5trc~c~t
Her~ner rienher GitS+ Stat~e Zip Cade
Wi I.~ ~~tjn Jenn:~nq~~ n~nr~i:~ 7,anc Santa Montc~ CA 904U1
Me~b2x 11er7nex Si~ of xecutlve 0]xeCt~r ~ate
Chri,tinG P•.ecci
tle~ber rSer~Ger hla title
z~l~in Katz .7alin J~~li 11 } xecutavc llirecLor
Me~roer ~te~tDer Fx~+ ~a~e ZNDEPENDENT A1~~7~t
David L'Lnke]
~'
at
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M
i
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ll
C
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,
~
~rw.ic~
c,
i
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&
o.
F~l+1CY f ~ICIPLS - -._.._._. _._ __...---._._. _.. - -
~Xf.`C~7t1Ve Vr'~1C~7 I'THlfle 4VI]~OC;L fLIJ~7f1 r~iui~
Jo}~n Jalili ~?13 ) 458-83U1 ;tc~ve Kay ~213) <372-4QUQ
Fiscal ~fficer Phatie ~`treet Addre~
C.M. llc_ririis ~213 ~ 4~f3-~3'lfi.l 5.`~5 Sr~txLll 1~'loHf~~r Strc~c~t
. Secretary Phone ~~ty Stdte Zip Gotle
I1nii E;lyore: (Z.l:i ) 45f3-l3'l.ll Lr~;; I~ilc3c.~lc.~ CA -- ~OD7.1
LGfA @0 fREU 7186~
~
ANNl1AL REPpRT OF FINAh1CIAl ~RANSAC~IqNS FORM QQ2-R
- OF CDMMUNIIY RE(1E11~L0~MEfi~T AGENCIES 0 2
ACHIEV~MENT INFOR~IA~IDN
(t7NAllDITED}
F~SCd~ Year Ended 7un~ 30 ~4 86 Agency hlame Rccic~~rGl~.nnt~rit I~qc~ricy c~f t}ie City c~f S~nta Monlca
I~dicate only tho5e ac~ievements completed durir~g the fiscal year of this report
as a O~RECT RESUIT ofi the activlt9es of the redevelopment age~cy.
Describe the ger-er~l activities ~f the agency
durlnq the past year
B~g~xn cone~trurtian c~f on-sltc~ .F>ark r~nd off-e~ite
kx~~ach imL~rnveme:nts
Subs~~ntially c~nr~~~~1cLc~d rehaY~iliLation of apartmc: nt
ua~it.~ ~ad~accnt to Oce~~n ParJc ~~ro~rct
F,e~tablislzc_c3 criteria fc~r develo~~ment of r.eplac~ment
hausang anc.~ obtc~in all necessary governmental
a~~provals :Lor con:~tructioiz
Rekia~7ilitated 33 units for seniors and ~amilie~ of
iow 1T1CI moderate ~nc:o~tie
As.,i~te<i in the coiistructloii of a 1~3 urilL ,}~ublzc
}~ousinq ~~rn,~ ect
As.~is~.cd i~1 o~~er~at i c~r~ of t~c~meless sliel L er
Enter the amounl of square
footage completed th~s year
hy bui~ding type ahd Square footage Completed
A B
segregated t~y new or
rehabliitated constructian. Hew
Construction
Rehab~litated
Commercial 8uildin s 1 o cr
Industrial Buiidin 5 2 o cs
Pu~lic Buildin s 3 0 0
~~~i~~~u~`~~din s 4 n 3i,c~c~c~ te~;t. )
Total 5 uare Foata e 5 ~ 31,c~t~c~(~st.)
Enter khe number of ~obs
created from the activitie5 aahs
Created A
af the agency, either
Attual or Estimated. fi
~t~~} (~St•) ~1~
Enter the appropriate codes
to indicate ea~h type of
Public Fdcility camp~eted
this ear. Public
faciiities
Completed
A
T e5 Com leted 7
A: Utilities C=~and5caping ~ r Streets & Roads
8= Recreation 0= Sewer & Storm F= Bus/Transit
As,,;is,Lad in devc-~.lo~iment of a se.nior shared }]OL1S1I1C~ }ar~~ect. (1) Cori.~truc,tic~n ~ak~s ~or cm-.~~ite ~ark and c.~~f-sito
tGFA 80 ~~ia~?
. 4477F/8
lmg~rc~vemerits .
R
4
~
ANNUAL REPORT OF FINANCIAt TRANSACTIQMS
Q~ COMMUNIIY REdEVELOPMEN~' AGENC1f5
Allp T 1 II~F 4RN4A1 I ON
I Was the report prepared fram
audited fir~ancial data?
A. Xx Yes
B . ~] N a
II indicate Financial Audit Opinion
Check Qn
A. xx
8. ~
C. [~
U. ~
E ~
e:
Unqual~f~ed
Quallfied
Adver~e
Disclai~ner
No Audit Available
If the opintan was other than unqualified~
state i~r~efly the reaso~s given.
LGFA 80 (7/86) ~
4471F/4
III. Was a Complianc~ Audit ~erfarmed?
A. ~ Yes
8. ~ No
IV. Indicate Comp~iance Audtt DpinSon
Check Qn~:
A. ~ Unqualified
8. Q Positive/Negative-
No exceptions
C. ~ Po~itive/Negative-
With except~ons
F QRN4 ~p~-R
0 3
Far State
~ISP n~,~v f a 1
Audit 1
0 inion 7
Com 1iance 3
0 inion 4
U. [~ Qualified F. ~] QiSClaimer
E. Q Adverse G. [~ No Audit Available
V. If the opinion was other thar~ t~nqualified, list below the
Code Sectians with which the agency was not 1n compl~ar~ce.
Car~nliance Q~~dtt CifirlP SPrt.inn
A B C D E
I II III IV V
Nea~th & 5afety
Code
5
(~ee Guidelines 6
for Compliance
A~dits far code
7
sections.)
6
9
Governm~nt ~pd~ lU~
.' BALvANCE SHE~T A~er~cy Name: ~~aE,veloF~meiit Aqr.~~cy ~~f tne c~t_y ~~f
Flscal Year ~nd~ed ~zur'e 3~ 19 ~~'
R B C
F1.SS~~ & aThfF DEBITS GaFntal Pra~ects
Funds Debt
Service
F~,3nds l.aulmderat~e
Inc~ne ~ous~ng
Fuxls
CdSh $~ Ymprest Cash y 4, 594 , 93 ~3 ~, 57 2,~.18
E~Sh 4~1Lh ~1SC~1 d~Efl~, ~ 1, 348 , F3 4:3 2, 348 , 623
Tax increments receivable ~
Accaunts receiaable 4 ~5,000
Accrued interest recea.vable l~rf;~~
No~.es
~ rECGlYBblB
Fj
h50,UU0
Contracts receivable 7
L~ase payments receivable g
Unear-~ed ~'inance charge g
Du~ f ran Capital Prajects Fund ~
Due fran Debt Seruice Fund 1~
Due fran Low~'loderate Yr~come Housing Fur~d 1~
Due fr~xn Special Re~renue~ther Funds ~3
~nvestments 14
C'a~~atalize~i T~case Rece.tvak~le
Qth~l" dSSQtS pxo~ert~ Zax It~cremcryts Rece~vablc
~~ 13,~~0,(l00
70 236
L~nd $nd impravemen~s held far di~pa~~l 1~,
F~.xed asse~s: ~ar~d structures 8~ irn~ravern~nts
Equiprnent ~~
Amount avail,able ~n Debt Service Fund 19 ~
Amount ta be rovided for a mer~t of ~an Term Dent 20
7DTAL R5SETS 8~ OTHER D~BI7~ 1 zo i~o <~o~~ 2 348 ~~3 1 ~i72 4i~
I.~FR 80 {Re~ 7I86}
BALANCE ~H~ET i I~GI IL,~ IVPmG. ~ ~~~
Fi cr+~l Vaar Fnr{ar! ~n 1^ sir
. _„__ . ___ ._..___ ~^
~
~
~
LIR~ILITIES 8~ OTNER CREDITS C~aRitai Pro,~~ts
~'~S ~~at
S@T~1C~
Funds L,~ltbd~zatie
j~t~Il~ HOU51C-,~
Fun~s
Accounts a able 22 3~,:~~1
Tnterest a able
T~x ar~ti~i ati~n r~otes a abl~
Loans a ab~e 25
Other lia~ilities ,f, 26 c~
Due to Ca ~tal Pro ' ects F~arsd
Due to Debt Service ~'und 21~3
Due to Loujlh~oc~erate Incorr~ Flausin Fund 29
~ue to ecial R~~enue/0ther F~nds
Tax allocation ~nnds a able ~~
Lease revenue bnnds a able
Other lvn -term ~ebt
Tota1 Lia~llities ~ Other Credits 34 13 ~~3 s~~
EqUITIES
Investment ir~ ~neral f~.xed assets 35
Fund bala~ce - reserved 36 ~~~~,344 2,348~623
Fund balar-ce - unreserved desi nated
Fund balan~~ - unreserved - undesi nat~d ~,`~~fi,i~~.t i, ~72,418
TOtc33 2 U1.t1ES (dusi uel Fan~ 1~-~ P e 3~ire 51) ~g h,71!,,53'_~ l,_i4t3,623 1,572,418
Total Liabilities 8~ Other Credits ~ E U1t1~5 4q '1.0 ,1 ~(7, 9()F3 2,:i48 ,~23 1, 572 , 4] 8
LGFA 80 (~ ~~}
,~ ~lVC~.7N'1~ STATEMENT-COfVSOLfQATED
~1SC8~ Y2~T ~f1d~Li ~Tuncz 3U ~~ 8b
FORM 2flD-R
Agency Name' .~3Ei~3t~,v~:r,o~~M ~N~i~ A,~N ~v ~~ mri~: C'ITY ~r s~T~ Mc~N1cA P~e 1
D 5
A B G ~ E
R~EN~.1~~ ~pital Pra,yects
Furd D~trt Serviaz
Fund io~/llo~e7ate
IncAne Ibusisl Futd Spedal Reyenue!
Dther F~Rs ~'QTAI..
Tax ZnCTemBrYt 1 $~,C)25,731 ~ ~ 5~5,Fi34 $ $ Z,581,3E,5
Spe~ial suppl~mmental subventions ~
Rrc~perty assessr~ents ~
Sales & use tax 4
Tnterest incane 5 ~~~,~~~3 ls~,ol~ y4~,'~f3~
i~~n~.al zr~cane 6
~ease income ~ 1,18y,7o5 l,lsy,'~o~
Sal~ of re~I praperty S
Federal grar~t~ 9
Gr~r~ts frorn ather agencies 70
Band actninistrati~e fees 7 i
Qther revenue~ 1L
Tatal Revenues i3 $ 3 oo~,2c~~ S S ~li,F>4~~ 5 $:~,~i~,s~4
E~PEND I TUR ES
R1~11f~Z5~1"~t1bf5 C~5t5 14 ~ ~24,185 ~ ~ ~ ,~ 524,1~35
Prcrfessional services i5 33,a~i 5:3,a5,i
Planr~ing, survey S~ design 16
Real ~st~te urch~ses 1~
Exper~d~.tures Su~--Total (carrr ~a li~e ~s. ~e 2) (i8) S,~~,03~ S ~ $ S S ,~~F~ n-~~,
L~A 8~ 4Rav 7r86}
, I NC~7N~E STATEMENT -GONSc~L I~1,~TED
~ Fzscal Year En~ed ,~~n~: 30. __ L9~
~1~~~~~ F~~~; R~DEV~LOPP+I~NT 11G~NCY UT TH~ CITY OP' SnN'FI1 MON:IC71
n
n
n
FoRr~ zoa-R
Pape 2
D5
n n
EXPENDITURES - cont'd c~o~ua a~~ects
Funt oenc ser~tce
Furd ~~-nwa~~~
Inaone Nous~np Fur~d s~~ a~~~r
Other Furds TOTA~
SUE]-tot~l ~fron 1Lne 1B peQe 1~ `~ ~1 ~ 57E3 {)36 ~ ~ ~ ~ 578 {)36
Ac uisition e ense 20
pperatlon ~f acquired property 2~
Relocati~n costs 22
Relocation a rr~nts 2~ 4,oFs~ 4,0~~
Site c,le~ranc~ costs ~`~
PI'0~2Ct ZIi~J2'OVER12nt/COnStrUCt10f1 COStS ~~ 2 525 392 2 525 39z
Dis osal casts ~6
Reha~ilitation casts 27
Rehabilitatian grants 2B
Interest e ense ~~ ~
Fixed as$et ~cquisltior~~ 3~
SUbsidies to lou+ & mo~erate housing 31 ~~,,~fis~ ~3~,os~ ~~z,~~~h
Dther exper~ditures 32
Advances ~ debt principal payments
i ax a].locatz,on bands
33
Rewenue bcn~s 3~ o c
CityFca~,r~ty loar~s 35
Ott~er lan -terrn d~bt 36
Tota1 expenditures 37 4~~1 5t37 1 741 UU1 F~~i'/ UtiB E> yz0 h'lE,
~
LGFA 80 can, ~re6)
~ .
INCQ€~'1~ STAT~MENT-CONSOLiJATED
Fis~al Year Ended ~ru~le 30 19 ~;f~
FORM 20D-R
Pape 3
0 5
R~ency Name: 1tF:UL.VELOPMTNT AC',~NCY aF' TH~ CTTY nF SAN'1'11 A40NICA
A B C D E
EXPE NQ~ TURES - cr~r~ ~. ~ d ~pxtelu~ o~ects ~e~F ~~vice Inane ~o~ p Fund ~ptn~er Furr~s ~ TOTAI.
Excess {~ef~c~ency)
Reve~ues Over U~1d~1" E enditures l~,ne 13-llne3
~~
~`(1,f~37,38`).)
$ (3,742,~U1)
$ ~74,56]
~
~' (3,l()4,Ei22)
CIThEP, FINRI~CING SOtJRC~S tUS~S}:
Proceeds of lan -term debt
39
plt~Vdl1~]~'S ~'r4r~ cityl~ounty 4~ ] ~~ 53 ~£335 I~ 1~~3 ~ 83 ~~
Sale af fixed assets 4~ '1~139~32() 2,139,32[)
Operating transfers 1~ ~~ ~, 385,U.15 1, 385,{l15
4per~ting transfers OUC 4~ ~ l, ~iE38 , s~~$ J L 1 ~ ~ ~ ! 1 1 ~€38E3 ~'-~4Fj ~
Tot~l - ()ther Financin SOUrc~s (Uses} 4~ ~ 1,404,207 $ 1,385,015 $ --0- ~ $ 2,78~,222
Excess (Def iai~ncy} af Revenues & Other
~inancing SQUrc~s nver Expenditures ~
Other Financin ~S2& ~Z]r1i ~* 1L16 4d~
4~
~~ 233~175)
~( 356,~38fi)
~ 174,5Fi1
rCr
~( 4].a~FiOU)
E Ul~ , 62 lf}fll~l of Periad ~E} f~ 948 71U ~ 2 7()~ ~()~3 1 3y7 857 11 U5Z 176
Adj~stments~
,~
47
n f 48
~ther - ex lair 49
5D
~qu3,~.y~ ~~ld of Periad (lfust equll foCn tU0-R, line 39, pepe 2) ~'~ ~ $ F>,7i5,53a +~ 2,:i48,623 $ 1,572,418 $ $ lf),h,.:36,57F.~
r
,` LGFA BO t~eu ~~5)
4
~
!
~raT ~~PZ,zc~~r,~
ASSESSED VALUAT~OHS - ANO - TAX INCRfMENT REVENUES
COC~SOLIDAIED
F iscal Year Ended Jun~~ 30, 19 ~~ Agency Name; ~,DEV~LOPNL~DIT I,VENCY or~ Z~H~ cTl~Y oN' S~1NT11 MUNIC71
ASSESSED VALUATION
~~
A S ~~
5ecured Unsecured Total
Frazen Base A55~55Ed Vd~Ud~~Ofl 1 $ ~ ;
Valuatlon
Increment AsseSSed 2
_
_
~otal AsSessed Valuation 3 ~ $ $
TAx INCREMEN~ REVENUES
~
.
~7
SCHEDULE D-R
Pa e 1
3 1
~1
Ar~ount5 Paid to Taxing
A Ef1C~@5 Pursuant ta: H&S Code
33401 N&S Code
33fi7b
TUTAL
Count 4 ~ ;
Cities 5
Schoo~ Districts 6
CommUnit Colle e Qistrlct5 7
S ectial Districts 8
All Other Agencies 9
Tota~ Paid to
Tax~n A encies
10
~
$
~
Tax Incrementi avai~able
for redevelopment ~urpases
ll
g
Total 7ax Increment A~located 12 ~
LGf A 80 ( 7/86 ]
4477F/"T
ANNUAL REPpRT OF fINANCIAI 1RAN5ACT~ONS
OF COMM~NI1Y R~a~VE~QPM~Nl AGENCIES
faROJE~7 AREA REPORT
STA~E US~ ONLY
tate use Unly
Proiect ID #
fORM 001-RP
p 1
r
~
Please provide a brlef description of the
pro,}ect areas activities on the lines be~ow.
Thc D[rwntown ~'roiect was aunroved bv the S~.nLa Monzca
City Council on ~7anuar 13, 1~76. '1'he ]'ro_~ect con-
tains 10 acre5 and is hounded hv Second & 1~'ourth
Streets, liroaciway and Co~ orado Avc . '1 t contains a
re~;ional sliopping cen~rr, Santa rZonica 1'lace, of
570,U0(1 sq. tt~. with two ma~ar tenants ancl more
tl~an ]00 s;~e~lslty shops. Tl~ie A~ency solcl $3~+,~~+70,00(
of ~ownto~n~ 1~tedeve opmenL Prt}~ect P~rkin~ Leasc
Rev~ rnie Bonds in 1978 to Linanc~e constru~tton of two
gara~es pro~iding 2,030 parkin~; s~aces for tF~e pro7ecl
LGFA BO {7/86~
4477F/1
P~lease affix label a~d carrect ~abel if necessary _
AGENCY NAME
Replacement ELf,ency oL- tt~e City af Santa P~fonica
~NAME OF F~R03ECT AREA
~?owntown Project
Date p~oject area was
establj5hed MM-~~-YY 1 - -
Most recent date 2 Amended - -
pro~ect wa5 amended
or merged M~l-nD-YY 3 f~er ed - -
~~ ~~
Estimated completion 19~~a
date ear anl 4
Established lim~t far
bonded indebkedness
Lf applicable 5 g N/A
Established limit for
tax increment
revenue5 6 ~ ~/A
~ize af pro3ect
area - in acres 7 ~a
F~ercentage aF land
vacant S ~ °~
Percentage ofi land
developed _ 9 1~~ %
Ob~ectives of pro~~ct 10 _
~rea a5 set torth in
the pro~ect area R= Residcnttai
p~afi. Enter lt~e I= Industria}
dpprapriate code{s) C = Commercial
P = Public
U = Other
~ FQRM 2p0--RP
" ~NCO~~`lE STATEMENT r p~~ ~
Agen~y hddR12 P~~rl~vesl nnm~nt Agencx o E' the CLtX„ of. Santa P~onica
' Fiscal ~'~3r ~nded •Tune 30 ~~ 86 ~,~Q~~Gt ~,.~~ D~wnLown Prn,ject ~ '
.
n ~ n n n
REU'FNUES CaQital ~ro1~:u
Fu~d Debt Servic~
Fund lwJnaderat~
Incane Nousin F~nE Special Ae~e~~f
QtAe~ funQs TOTAL
Tax ir~crernent ~ ~ 727,b75 $ ~ 55,F~34 $ ~ 783,309
s~acial ~upplemer~tal su~ventic~ns 2
Property asses~-nents 3
S~les ~ use tax 4 I
Interest InGOrne r~ 3()C},7h0 82,802 383,.562
Rer~tal incc~rn~ 6
Le~se incarle 7 1,189,7i).5 1,189,705
Sa~e af real praperty 8
Fed~ral arant~ 9
firants from other a~encies 1 D
Bond ad~ir~istrativ~ fe~s 1 ~
~ther reve~ue~ 12
'~ota1 ~euenue~ ~~ $ 2,218,140 S $ 138,43fi $ ~ 2,35b,576
EXFENDI~'UR~S
4~mini•_tr~~tzon ~a~t~ ~4 $ 178,90b ~ C ~ $ ]78,946
Prof essiona3 servic~s 15 17~~~~~~ 17,870
Planr~1ryg, survey & desi~n 1~
Real ~sta*.e urchases 1~
Expendltu~es Sub-Tot~l (cerry to line ~~, paae 1} ~18~ $ I4b,776 $ $ $ $ 196,77b
~
.
~f~A $~ iA~u ?res?
~, .
. It V~
"' ''~'~~'iE ST.~TEMEhI?
~'isca~ ~'ea:~ E^~ed ~une 30
~~~~~~ N~~. Redevelopment A~;~nc.y of tlie Glty of Santa Mon:~.es~
i5 $~ r^roject Area UownLOwn Pro3ect
r~ r~ n n
FORM 2U~--RP
Paae 2
0 5
n
E`~CF~-NOITURES --- cant'0~ CaDztal Pr~~ects ~
iurd Deet Serviae
fund t~~/noderate
Ina~ne Nauring Fu~ Spectel Ae~anu~f
UtheC Funds TQTAl..,.
Sub~-t~tal ifton lsne 1e peg~e t) ~19~ $ 196,776 ~ fi ~ ~ 196,776
Acquisir ~or~ expe~se 2 ~
~peration of ~aquired pr~pert~ 2i
Relccatzar~ c~sts 22
Re~o~ati.on pa~~nts ~~ 4,(~67 4,oh7
I Site clearanc~ uo~~~ ~4
Pro,~ect i~prvvernentJcanstructio~ ~asts 2~
D~s ~sal costs ~S
Rehabi~~tation casts 2~
R~habii~.tati~n gr~nts 28
Intere~t e ense Z9 b55,351 911,496 ~,566,~47
F;.xt~ ~SS~#. ~CQU151~i0~1S ~~
Subsidies to Lo~u S~ rr~oderate i~ous~r~g 31 44,244 4Zb,088 470,332
Dt~er e>cper~ditures ~~
A~vances & debt pr3rrc~p~2 payments
i ax asiocatien bor~~s
33
235,Oi?0 ~
235,0()0 ~
Revenue b~nds 3~ '
; it~~county laans 35
C~xh~r 3.ar~ -t~rrn debt 3fi
Tr~tal expenditures ~~ 900,~+38 1,14b,44Fi 426,Q88 2,473,022
r
~..GFA 80 {Re~ ~.~s}
.
~~1~~'^~~'iE STAT~~•1F~tiT
F1~C~1 42~r ~ritied •hlne 30
R48nC~ Nafi;B R~ devel~p~nent Agency of the City of 5at~ta Monica
l~ 8b Project Area~now~~oWn rraa~Gt
FORM 200-RP
page 3
~ 5
A B C t1 ~
' ~ o~ecu
~ita1 oe~~ ~r,ice e ~
~ p ~
e~
~ TaTAl
d
EXPENDITUF~ES - cont I ~ Inca+
a
Fund 4t,her
nds .
Excess tiGeflclenCy~
Revenu~s O~er Under E enditure~ l~re ts - ~ine 37
38
S 1,3i7,702 (1,146,49b)
$
$ (287,652)
S
S (l1b,446)
OTFiER F INA~CING ~C~~R~~S ti USES; ,
Proceeds ~f ~ona-term a2ht 39
Advar~C~S fF~7m 4itylcounty ~Q b55,352 655,352
Sale ~f f~.x~d assets 4~
Operat~ng trar~sfers irs 42 1,146,496 1,146,496
Dp~r~~ing transfers aut ~3 ~ ~ , b41, 322 ~ ~ ~ ~ ~ ~ - - ---- -~ ~ 1 . 6~E 1, 32z_~~
Total - Dther ~inancin Sources (Uses} 44 ~ 98S 970 ~ 1~45,496 $ ~ $ 160,526
Excess ~Deficiency} of Revenues & Other
F~nanc~ng Sources aver Expendl~t~,,res & 45 S 33],732 ~ -U- $ (287,b52) ~ $ 44,o8f.~
~th~r Financina Uses (~u~e ae • ~~ne aa~ - _ _ __
E u~t , 8e ~.nnir~ of P~r~.ad 46 $ 2,28h,5b8 ~ 1,655,006 1,003,296 4,944,87(1
Adjustments
47
106)
(9
(9,106)
~ ,
~ ~ ~1 f ~~ ~
Crther - ex lain 49
~
5~
Equity~ End of Perlod {Must eq+~l farn ~Dn-A, ~ine ~9, pege 2)
~~ ~ i
$
2, 61 S, 300
$
J, 645 , 900
~
71 ~, 644
~
$
4, 9 79 , 844
~ LG~R 80 4~ 7~86~
.
' AGENCY DE81 SCN~~ULE A-RP
~ TAX ALLOCA-klON BONL15, RFVENUE BONDS ANf} CEH1IFICAIES OF FARTFCIpA1iqN Paye 1 of ~
Ag~ncy Name; R.~dcvelo mcnt A~ency oI' the City of San~a P4onica ~
FiSCa~ Yedr Ended June 3U __ 19 86 Pro~ect Area: Dow~town Pro'.Iect ~~
l3se a separate colum~ tor listing each bond authorizatton not €ul~y r~tlred, Use additlonal pages as necessary.
CaDING B~XES FOR CONTRQLLER'S USE DNLY
~ T~TAL
Indicate type af debt. ~ax Allacat~on
8ond, Revenue Bond or Cer k i f i ed te
of Partici at7on Revc~rn~e
13or1d
Year of authorization 1 0 1978
Fr~~cipal amount authorzzed ~.1 ~~4,700,000 g g ~ g]4,7UU,(lU0
Princt al amount Un~ssued 1~ -~- -~-
Princ~pal amou~t unmakured -
be innin ot tiscal ear
2.0
13,675,000
I3,h7.5,000
Ad~ustments made during year
(Explain~-----
3.0 ~
-0-
-0-
Prjnctpal amounf, issued
dur i ng f 7 sca~ year ~
4. ~
-~~-
-t}-
_
Prlncipal amaunt matured
__ durin9 f_j5ca1 year
5 0
235,000
135,000
Pr~ncipal amounE unrnatured -
er~d of fiscal_year
6.0
13,440,000
13,440,OU0
_~Princi~al amount iri defaulf. 6.1 -U- -0-
Interest in default 6.2 -0- -~0-
~^ ~
PUR~OSE OF DEBT SY Rl1~NORIZATFQN REVENUES PLEDGED AS ADDITIONAL SECURITY
S ec~f Nat~re of Reven~e} EXTEN~'
P~EpGEp
To financc the ~cqulsiLion anc3 constructiott of Lwo Parking le~7se revenue agreement with the ~
garages wtiict~ provlde parking faci] itics for a majar City ni' Sant:i Manic~i 100 ,~
stiopping center in Sailta Monica ~
P
~„ ' -__ .. 0/
__ !b
" I_GFA SO (REV. 7/Bb)
4~77f 12
» OTHtR LONG-IERM INUEBT~DNESS & FIxE~ ASSk1S SCHEDULE B-RP
Agency Name. Rede~elopmen~ A~ency_o£ t~-e City of~Santia_Monica
Fiscal 1'ear Ended _~June~Q.,_ _ 19 g~_ f~roject Area i~owntown ProLect,____ __ __~~
O1HER ~ONG-IEFtM 1NDEBTEU~IESS
1 6 1 7 1 8 1 9
A A k A Tf1TAl
_DfFiER LO~JG ~ERM INOESTEUN~SS
~ 1 0 LiTY/COk7NTY STATE U.S. ~SHER
Pr~ncipal amoun~ unmalured,
---- Begi~~n~_n9 of.fiscal~__ye_ar 2.0
~ S_,...8_~003,.,256 .._ $~ $ _ $ _ $ 8,Ob3,`L56
Ad~uslments made dur~ng
.___ r~ear ,(Explain} 3.0
Accumulated Interest
~~ 3.l 655,352 655,352
Principal amount re~eived
dur-nq fisca_l. ear
~ A.0 -0-
principal amount matured
_..._._ dur i ng f_i sca~ }~ear 5. Q 3 $ $ g $
~otal unmatured _.
end of fis[a3 yeat b.0 $ 8,h58,608 $ $ g g 8,658,608
REDEVELDPMENT PROJECT FIXEO ASSETS
(Do Hot Report Accumulated pro~ect Costs as Fixed ASSets)
3 0 3 Q 3 0
_ A B TOjAL C
fIXED ASSE~S Land, structure5
and im rnvements
E ui ment
~ Balance~b_ey_lnnin ot ear 7 $ $ ~
Addition5 (Inc~ude5
-- c a n s t r u c t i o n. 5 n p r o~r e s s L--.
_..8
~--.----
----- ~.
__. _~_.. ~_._._ ...~.._..
_ Less retarements 9 ~ )
Ad~ustments -
__ increase ~ecrease) ~
10
_
_ 8 a 1 a n~ e~ e n d o f y e~ r _ 11 ~_ _._ $.._ __.~___...._------ ~._.__...._...._~_..~...._._..~__
'r LGFA 80 (7/86)
4477F/6
NO'1' APPT,FCAI3L~
,' . ~
N~N~AGFNCY DFBI SCHEDUt4. C-Rp
MORli~11G1 RfVEiV~It BONl35, 1N1]~1S~lftlAl I)EVEltll'NlENl ~4NpS, CE4t11~iCAlkS UF PARiIGIF~AIlUN Page 1 of _~
Ayen~y Name Itedevelo~ment A~ency oL the ^City ot 5a~tta A~onica
F i Sc a l Y~ar Ended June 30 ~y 86 Pro~ect Area ; Dowritowri P~o,ject ~~ ~
lfse ~.~ s~parate columrs for ljsting each bond a~thnrization not fully retired. Use additional page5 as necessary
COqING ~0}(ES FOR CONTROLLEk'S l1SE ONLY TOTAL
Ind^icatr type of ~ebt Martg~ye
Revenue Bonds, lndu5trial Oevelopment
_Boncls.L_ Cer.tificate5__oi Part~ciQation
__ ___
____
______
_
Year of authorizat~on 1 U
Prlnc_i~al_amaunt_authorized l.l $ $ $ _ ~_
. g
____ f'rinci~al amount unissued _~_
l 2 _
____ .__~_~
Pr~tncipa~ amounk unmatured -
---.- begtnnari~of F~sca1_~r _
~
2.0
---
~~.
Ad1ustments made du~~ng year
_... __ _ Lx~ 1 a i n1-- -~-~--------
3 . 0
--
--.~.._...~...
_. .~.~-- ---
k~r~nc5pal amaunt ~ssued
-- during f~scal YPar
4 0
- --
-
..~.__._.
Rr~ncipal amaunt matured
dur i~-g fi5cal year
5.~ _ ._.
1
Pr~ncipal amount unmatured -
--- - e r3 c~ _ u f_t_ i.s c a l. .~l e a r- -- -
- .-..
6. 0
--~-
-~-- -- _ ~_ _ _
--
__._.f?ri,r-c_ipal _amount jn_deFa~1_t __._
_
6 1 -
--~
T
Interes~ ~n detault 6.2
--. .._ ._....... _. ---- . ----~----- - __......~~_..........__.....__~_.
REVENIfES PLE~GEII AS ADaIlIlIiVAL SECURI~Y EXfiENT
_~ , _ __ Pl1ftPOS~_OF..fIFBT BY.AUTHORIZATION__,.____.__~___ ~~_~_ (5~ec~fy hkdture af kevenue} ___ _PLEDGED ~
~
. - -,. ...__ -----_ _ . . .---~ -- -----
• LGfA BQ [REV. 7/86}
4411h/"3
~
~. '.
f iscal Yc~ar Ended Jtine 30
NO'! APPI~ICABL~
ASSf SSE U UALkJA~ l ONS - ANU - 1 AX INCkE ~IF N1 RE VE N~lf S SCHE ~U~f 0-RP
Pa e 1
3 l
Agency Name: Redcvc~.opmc:iit A~ency o~ ttte (',I~.y of S~.nta Mon;~.4a
19 _86 _ Pra~ect Ar~~~ __ Downtown_Pro~ect_.~.,~~____ ~
ASSfSSED VALUA~i~N
Frazen Ba~~ Assessed Valuation 1
_ Inc.rement Assessed Vdludtion 2
jo~.al AsSessed Valuation 3
Unsee~red I Total
5erured
TAX INCRE~lEN1 REVENUES
.' LGF A 80 ( ~]/8b a
4471F 110
--......------~--..-----~--------- -- ~` ~._.._.__ a _._-~
An~ounts Pa~d to laxZng
____~A~ncies__f~ursuant to. _ H&5 Code
33401 H&5 Cade
33675
TOTAL
Count 4 $ $
C~itles 5
s~nooi ~15tT'1Ct5 ~
_____.__„ Communit_y Co,lle~e Districts 7 . ., ___~, _
Spec~al Distrtcts B
---.--.AII 4ther Agencies___ 9 _. .__ ..--- __._......_ __.__.._._..~_.---
Total Paid to
- -- -~--..._ T a x ~ n~_ A c~e n c t e s .. . _....~.__.. ..._,_..
Tax ~ncremenl ava~lable
_._____. for_ redevelo~ment purposes
lotal Tax Increment Allocated
3 0
11
12
~ --- $ -
~ ~--~- -----~
$ __
$
~ ..
57l~TEP'4Ei~JT f]F INDEi~T~DN~~S
F ~~'?F T '~'Ey~ 19°a--27
~ y4 i _~~__._______~__~____ ___~__
.I ~t~i iT I F~~+~`C' I C~N D~TC
4 n~Par.~unc~ Lease4
L__~t~.~ ~s____-_------_~2g,Cl.~..
rg;Note PayaoZe to
--_~i.tz~. ~zf~..iL___~_-~-----__0~9~.L~.~.
r ~ ~ Note Payab~e 'to
--_~t~n~~..NL-------_____ 4.3,l9~L~.~
~ ~ ~ ~~ ir~s & F IQderate 7nc.
___T~-~r'~ 2`~,C+ ~,n„d.-----___~7.,l~2L`~.~.
CEr ~~ & T~~ate Inc.
---ueusuu7 T -------- Ds,L~~,L~.°=
«~ - --- • - -- --- --
~ ~ i G ~ ~~~g 5txuctst..re
~ ~_~~'-.~~~c~ent~l~c~ee
~TH~'~ti'r^Rrc^TOT~,LSy~
; :G~Rtdi3 TOTrLS
~ ~Vi=.IL;,~SL~ FIt•iAi~1GIriEG
z~~T ~E~!u1r~r~Er~s
~_~~~~~~~~~~~~~
~,
/ _..___.~__~~___-__-.-------_._.___._._--.~-- ~
/ ----------------^~----~ -----~______..._-----
- , -~
.~--------------...~ _----____ 4 ___.~_~ ~ f
~~ , f ~ ~
- -----------------------~---wy------------~
i'~~~.F'~,7G L}r lT`~~'~~~tJY~t~j '
t A} To f~aance ~oz~ion of the cost of parl~nc3 stz~uc 4ure C E i Law & t1oderate Inct~e Fious~ng Txust l~md
r~'~ ~Tz4~ CQnS ~^"[TC''..Zdll re~ [aC3ttOri 3f2[i Ot~e~3t1QI1 CDSy~.S ( F~ ;r.s:~_~ Tnrrsn~~F7r~~,i G i r,n ttr~ F~~-, mat- haceyi , ,
_ ~ _ ! - -- . - --~- ^~1 ~. °r- Oll tOIIYlLl].cl Cc~C'J,~~~QII~
1 r; Far Zar:d ~ans~e~- t~)_P~kin.q ~tz~.i~.~rQ AcTra~-,,a*~t 1F.s- ~afie b~e~ on fe~nula I
c z ; I.~w & ~.~dera~e Inc~ne Hausing 'X`rust ~nd - - - _ _ _ .. ~. _ _. _ _ _ _._ _ _ . - calculat=~n) ~
~ '
F'urautint ta 5e~tion .,~07~ of ti~e ~ieRlth and Safe±y Code, , ' I
I~erebvi certify tnafi the abave is a true a~d ~ccurate ; ;
Statement o-F Indehtedness ~ , • ' ~
• - - -- - ~
~ ~~~C~ ,,/~~~'b • ;
_ + ~; • . •
. _ _~ ~
. ~
' Revzsed ZI/3/~
~. - - ~ ~ '
AGci~CY NAt~IE: 5anta tion~.ca R~d~v~].vr~[~nt Ar7~~Y F~AGE 1 OF 2 ~
~F~JEC7 tD~~+~TTFSCA'tlQ~~l: Dc~mtAC,rtz R~eveloT~netit Pra?ec~ ~
?1F:Ir'_rd,~L.__ . -_-------~TIdTEr:~ST__{]UTST~n;DIT~G L~~i~T ~L'EyGL~r,iC~ai~ 1~5~-4" f
i~F IhlrIFAL T~F:M ~~Tc JUNE -~a, 195a F.IIy~IFr=rl.. ~ Ii~i i~;~~ST ~
~
__~.Ld~4~4~1.__3A~rs__~F._2~~ 2~~ ~.~~?.~,?1~------ S- 25b_OOQ ' 5892,703
__ 1`16~j322 _ r~~e.~r__ ~_~-0l00~__ _ __1~219_,388____ _~.ILl6? ,322 _~.__5$,066_ .
_~, ~1~1,~~03 _ _~,.~e?x_ _~__7.7Sg_~. _ __ 7~439~~~19 ___~ __~~L161,703 __ 277 , 516___ 'I
~I~25Q ~ t,~e.~ ___ _t?one - - ------- ~- -- -- ` ~ ~
---- Z3~ , 250
__- __~
____
,~ 1 . c~t1~,~QQ2, ~~„_,nei~-- - None __ _ ---- 715~ 644 __._._ ______ 7151644 -- -4- ----
~ 3~019,~729
_ {' ~a ~s_ _ r~4~ __ _ __.2~.~~.,,~~~_c~t .l~_...z~.o.~QQ~
,s~
_
I
,-
- ._~._
_--_-
~. ~
.--~,~~~~_,~ I 30 ~~. _ ~ _11.~~..$~Q C~S~ ,~~_ ~.~~3s~.;__~SL-___-~_
~ ~ .
STATE1rtEi]T E!F FNDEbTET1NES
~`_~ pF,T Y~~F 19°~-27 --,-- - -
.J~7 k
I~~317 iFICH i I~~a
----Do'wn~own Coonerati'an & ~
( `"~ Rezmburs~.~t A~re~n~nt
c~t
{~}
~
Rev~sed Z1/3/ .
r _ ~ _ * .
~ ~Gc3vCY f~AM~ San~a 1•Ior~.ca Redeve~ caom~n~ ARencv Ff~Gc ~ Ofi ~
__. __ ___ ._ Ffi~J~G~ tDETlTIF~CRTI~ld: Downtt~wn Redevelora~ezi~ Praject ~
•- ----------- ---------~ --____--_ _-------__~ --__--_____---_~---__ _-____~_.,~----------
~~F.I~I~d~L. ~Ir.ITE~~ST aI.JTST~ND~idG DE'i~T i i_ic ~~U~ft•w I~'6~.-07 ~
~i~T~ -F.TNrIFAL ~T~i;;1 ~~.~TE ,~UNE ;C~. 19Sa ~F~Ff+~CIF~~~ ~I~~t ~ ~h~~ i
12/17/85 $1b,18~,625__~'~___ ~-OrdO~-- $16,1.87,526 --------__y0~~ ~ -0-
-- ~ --- - --- - i- - -- ------------
~ LLti
CEr
(F~
~
f
F,
'~~)
7#-f~~._~ ~r_~TOTF,L~.~_'
~~r~D 7~~A~s
~ VA Z L~,~~~~fi I Nr=~F~1C I NG
~~1G~ REG~C:tIRcT'I~NT
~----~-------------_
•-~---------_ ___~_~__
..._~------ J l -~_ ___._«__.
w
•-~ --------__i .____--- -
I
FURF~s~SG Gr= iN~E=Tt~~d~S~
{~? Thzzc~ Stree~. ~i~.t3. Iz~zov~nessts -
(C~
~L~r _ _ ..___ _
Fe.trsuan~ ~o Section ~•~675 of the i~eaith and Safety Code,
I t~ereby czrtafy tha~ the ~b~ve is a true ar~d accurat~
S~atement-af I~~e~tedn~s~~ ~ ~
. ~ ~//~/~
' °~, ~~~
r ~
_....~ ~~~.~..,.~~~~~~.~~~~~~~~~..~..~~~.~,..~~.~.~~~..~^~~~~
-------- ---------__--._-----_, ______..~.,_~ __---~
•,~-----~ -----------,.....Y_----------_------------~
f _ $4~,79~_sz9 __--~___~~~.a,os4,549 ~1,2z~,z~5
~ ~65,983_555 •~~y__~ 10,d64,549 7~,228,285 .~.
---~t_'~50,1}~5 ~ ' 1,025,e8U 892,703 ~
- -___.., _____..._. ~ __.~__~ ~
61,833,550 9,038,669~ 335,582 i
__~~ ________~~_~_________.~~..r---------__.~
SE)
- f F ~ , _~:~ ,____- --~ ~~_~
l~)
4
A~N~At REPORT OF fINANCIAL TRANSACTFONS
OF C4MM~NITY REDEVEL~PMEN1' AGENCIES
PRO~EGT AREA REPORT
STATE t1SE ONLY
Revieue~ Cledred
FaRM 001-RP
~ }
State U5e Only. ,
l~ro ect Ib ~
Plea..s.e aff~x lab~l and ~orrect label ~f necessarv
AGENCY ~VAME
R~ DN;V~LOPMI~JN'I' Ac:,N;NCY OI' ~!'11L C:.i TY OF SnNTA M{~NICA
NAME Oh ~htU,IEC~ AREA
c~c~AN rniuc ~~RC~7r,rT in
~
Da~e pro~ect area was
established NEM-OD-YY 1 6 _3O _ h0
Most recent date 2 Amended 1~ _1~ _ h~
pro~ect Was amerzded
oe mer ed MMl-Da-YY 3 Mer ed - -
~stimated campletion
date ea~ onl 4 1~3~~
Established 3imit for
banded indebtedness
_{if appl~cable) 5 ~ N/~
Established limit for
t~x incrementr
I'2VCf1U25 6 g N/~
Size of pro~ect
area - in ~CPeS 7 2l•3
Percentage of land
uacant 8 0%
Percentage af land
devel^ ed 9 ] cao°~
Qb~ective5 af pro3ect 10 i n E ~ r i~~ i t
area as set forth in
the pro~ect area R- Resident~al
plan. Enter the I= Indust rial
~ppropriate code(s). C = Conttner cial
P = Publlc
0 = Other
PleaSe provide a brief descripti~n of the
prnject areas activities ar~ the lir~es below.
c)cean }~ark l~edeve~of~mer-t Pro- c~ct 3(a) is t}~e
norl.ti~rn r:~ortlon of tYlc~ l7.fi acre ~>r~,~ec,t iri thc
~.:~Ul]t~"1WG~;t~rn r_nrnc~r o~ t~he C'ity aci~~~cent to
Sat~ta Mcs~ilca bc~ach ~n contains tYie follow~nc~
l1SE':+ tn t}~c prc~~~ect area: 1) r3 l.win tower a~:?artmarit
c~mp c.~x c:~zitairiiric~ . ~ini L~~ cnmj~le Leci itl 1~~i6;
2) lti7 condominium and townhc~i,~~,e units compleCec#
iri 3); ~_ ccan om.~naum uriil~a tc~ hc~ com1,lcted .il~
c:s~rLy 1~)f.i7; ~-~nci 4) a 5.89 acrc ~~ark (Ucean Vir~w Parlc)
ocate iri t e~r~~r~ct o~xn aric.:>, T. c~ Oc~ax7 Fark
Prc~~cr_~t 1~~ oFf-siLe activit~e:5 inr,lucie: ttie reYial~-
i.. i a ion aric c~xF:~~in;;i on o ie Ocean Par I3ranc;h
Libr3ry comi~let.c:c3 in 1985, thc consLruc:~i~n of amF~rc~v-~
eme~ s ~ 7e ~c~ar. a 3 ar_ert :-c~ : u~ S~ra~ ec cxL~tld:t ttq
ric~rttl Lo ~s.ickiic:ll 1lvcnuE, tn }~e comj~leLed lri e<zrly
1~)F37, aricf tf~c canstructioii of 1:i5 unit. ~ of atrorda}~~~
hous~ nc~ i.n i,kie surr~undii~g co~rtmun ~Ly.
LGfA 80 (7/86}
_ 4477F/1
~ " INCC^~lE STATEMENY
. ~iscal ~'ear ~nr~ed , J~kn~~ ~0 19 fiF~
FORM 24~-RP
Ag2!i~:y Nafftie. _ RPT~1?Vl~:'f,Cll?MF'Nri' 11{';FN{'.Y ('lN' 'I'FiN' ('.TTY__f]P SANTI~ M()NIC'71 P~~ ~
Pro~ect Are~ oc~AN Pnxx ~z~c~,7rc,~r ln
n
~
n
~ 5
n n
~
REVFNUCC Capital Pr~ ~cts
FunQ G~trt ServEr~
Furd lou/ltad~rat¢
Incane Nousin Futd Spedaf ~e~enuel
Other {u~ds
TO~,~L
1'ax incr~rnent 1 $~l , $ S,~ S $;~;1 ~,~:~
S~~CZ2~1 Suppl~rter~t81 Suk~v~~t1.0~& ~
Propertv assessrnents 3
5ales & use tax 4
Y11te. e5t 1C~G01112
5
356 25Q
~3 44'L ,
40~3 f~9~
R~ntal ir~cane 6
~ease incorrEe ~'
Sale c~f real property 8
Federal grants S
Grants fran other agencies 10
Bond adrninistratYUe fees 11
Otner rewenues I
7ata1 Re~enue~
12
13
S~~:3,~3:3~
S
S 4if;,~4z
~
$~~~z,z~_3
E?CPEN011'URES
Q~1T71~t~ dt1~+C1 Gb~t.S ~4 ~ ~ ~i2 , U54 ~ ~ ~ ~252 , U~4
Professzonal SEIVIGES 15 26,26[~ 26,2FiFi
Plar~nir~g, survey ~ desi~n 15
F~eal ~state urchases 1i
~~7Sptf1dltLJI"E5 SUb-TOtc~J. (dcry W l~te i5, paAe ~} ~~~i ~ 278,3'I.() ~ ~ ~ s2"1fi 320
~L~A t3Q (Atn~ ~fE6?
~ ^~~~N1E S~,~TFMEN ;
F1SCJ~ Y°3:' ~^~8~ Junc 3b ?~ 8~i
~1~~f1C~ ~12~T1E~' 1~h;Ur;VEI~C)T'MI~:NT AG~NCY UF TII~ CITY UI~' SAN':1'71 r~Cl~3ICI1
~ro ject -~rea: oci.AN PARK Pk0.7I'sC`I' 1~1
FORM 20D-RP
Pa~e 2
Q 5
A e c a E
EXPrR1DiTUAES - ccr~t~d Cap:tai P~a ~erts
~~d Oebt Ser+nc~
FLnd tau/noderate
Inrane Aoarlnq Fund 5peaei Ae~e~uei
Oiher Funds TOTAL
Sub-tDtdl ifsonl~ne 18 ~ege t? ~1~~ ~ 2"lt3,3ZQ $ ~ ~ ~ 17F.i,:3'LO
Acquis~t~.an ~ ense ~~
Op~racior of ac~~ire~ p:operty Z~
~eiecat~on c~sts 22
Re~acafii~r~ na~~ments
2~ ,
Sit~ ~:I~aranc~ c~sts 24
i~ra~ect improvement~construction casts ~5 1,s4=i,~:3~ i,~3~3,~3r~
CAS OSB~ COStS ~~
Rehabi].ztation costs 27
Rehabilitation grants ~8
Interest @ ~~35Q ~~ 4~38,482 4:34,719 933,201
~
F,xe~ asset ~~;~ulsiz~~n~
~a
Su~s~dzes to ~a~u & rnoderate housa.ng 3'E 11t~,4~ic} ~31,300 191,730
~ther ex~aenditur~s 32
~~vanues & debt prlr~c~pa1 paym~nts
~ ax a~iocation bor~ds
33
~
~
Revenue bands ~4 I
~ity/county loans 35
Qther Iar~q-terrn debt
TOtal ~xq~nditui"~s 3fi
~7
S~_'7~3n_7FS3
$ n~~a.~i~a
~ s~~i _~~a[~n
$
$3,'1_4f~,787
~ ~GFA 80 iae~ ?~J6)
;N`.0~'iE ST~TE~~1~'L'T
F15C~~ ~'e~r Ended ~ui~e 3U 1~ S~
n n n n n
~,~PcNDIT~RES - cortt' d ~ ~a~r.~u~ o,~v a~~ tlr~~ce i~,e ~~o F~,~ ~a~u~r~~ ~ To~A~
£xcess LCeficaency~
Re~e~ues IIyer Under E endz.tures 11r~e 13 - lfne 37 38 S t~,156,~3:i7) $(434,719) ~337, 1~2 ~` $(2,25~,514)
0~11EF~ FINANCIN~ 5~l[JRCLS ~~S~S; ,
Rr~~eeds o~ Iar -term ~~bt 3J
AC~~df'C~"S from U],.t}~/~OU~It}~
~O
3E>3,f393 .
3f~:3,8~33
5a1@ Of f1X2d s~SSE~~ ~~ 1,5F~1,704 1, ~>F~] ,7(34
Operating transfers in 42 t~~,:~ i~~ 1 ~~ ,.s i~~
~peratir~g t:ansfers ~ut 4~ ( 1f.;o,~E,~ ) ( ) ~ } ( ~ ( if;u,~r~.,-~ ~
~ota~ - D~ther ~inar~cing Sources (US@5; `~4 ~ ~,744,F3:30 ~ 174,11~ ~ -[)- $ ---- ~ l,~)18,~49
~xcess (De-Ficiene~} of Reven~,~s ~ Qther
FirlanCing SOUrCes Over Expenditures &
' S
C~ther Fin~rncinq Use~ Cl~na ~e * iane aa)
I 45 ~( 411.,.1()7)
-___ (260,~;00}
~ i3'1,1~2
$: ( 335,5F~5)
~
~ ~lt , B2 ~~1t71C1 of Periad ~6 3,4U3,36~ ~ lF~(~,~4(.l ?8E3,1)28 4,4~E3,3;i3
Adjustments.
P n 47 ~, E,~s E~, E~4~
~ ~ ~ • , ,~ f 4S !
~?ther - ex lair~ ~9
~
5~ i
E~u1ty, End of Perioc~ (nusc equel Fam ioa-R, 11~e 39, pe4e 2) 5~ $1,~~~3~L,z`~t~ ~a ~lz,{~8f} $~2a,~7o $ $~I,]1~~,~1~
FOpM Z~f]-RP
~age 3
L~ 5
Rq~ncv Nc1fi''Q R]~;I}L:V]~;1,U1'M1~:NT 11C~~;r'~~yCY OP Trrr CITY OL' SANTFI MON:TCA
Project Area' (:>C:I~,11lV I'I~1LK ~'f2()7rC'T 17~
~ ~~F~ ea t~ 7~~
"AGENCY ~E81 SCHE~ULf A-RP
TAX AL~4CA1[QN Bp~pS, REVENUE BON~S ANq CERTIFICAlES OF ~A~~iCIPATION Page 1 0~ 1
Ag~ncy Name: ~rn~v~~o~Mr,~v~i5 Ac;rNCY C)P., THE, C:L~rY,t~r ,.~nN~'1~ MUIV:iC:A i
F~5e~1 Year Ended Jurie~_ ~9 8F~ Pro~ect Area: OC~I~N PAFtK PROJF'C:'1 lA ~~
Use d separdte column tor listing each bond author~zatlon not fully retlre~. Use ad~itianal pages as nec~ssary.
COOING 80XES FOR CONTRO~LER'S USE ONLY TOTA~
Indzcate type o~ debt: Tax Allocatiam
Bond~ Revenue Bond ar Certificate
af Particl d~jOfl m~x
At.~~~OCATTON
I3C7i~Tll
Year of aut4~ortza~7on 1.O 1`]f34
Princ~ a3 amount authorized 1.1 34,1G],oc~o $ g $ g~,iE>t,UC)o
Princi al amnunt unissued 1 2 -o- -~~"
Princ~ip~l dmaunt unmatured -
be innin af tiscal ear
2.0
4,zE~.~,c~ao
~,~~1,~3C~~~
A~~ustm~nts made during year
Ex lai~
3,0
-~~-
r~_
Princtpa~ amounE issued
durin fiscal ear
4.0
-~~-
-Q"
Prlnc~pal am~unt matured
dur i n f i 5ca1 ea~'
5.0
-~~-
-~-
Principai amount unmat~~ed -
end af fi5cal ear
6.0
~,l~~l,ooc~
4rl~l,oao
Princi al amount in default ~
6.~
-a- r
-s~-
Interest in defa~lt 6.2 -~- "~~-
: PI~RPOSE OF ~EBT BY AUTFiQRIZATION REVENUES P~EOGED A5 ADDITIONAL S~Ct1RITY
5 ecif I~ature of Revenue EX1'ENY
~I.EDG~D
To ~a,ic~ irs finaric~z~g O~~aii ~'~3rk Pro~ec.t #.lA 'Pax lncremerit Z~~,~
o~
~~s
x
- LGFA 80 ~~~v. ~~a~7
` 4417F /2
OTHER LqNG-~ER~ INDEBT~ONES5 & FIxED ASSET; SCHE~~LE ~-R~
Agency Name. 13k;v~y~1~0~'M~NT ~,yr~,NC:Y f~r ~l~ii~_czTY or SANTA MQN1C1\
~iscal Year Ended __~,~r,~, _3~ _ 19 8~ P~aject Area or ~;A r~ ~
OTHER LONG-TERN, II~dEBTE~NESS
1 5 ~ 7 1 8 1 9
A A ~ e rnTaE
OTHER LONG TERM II~~EBTEpNESS
~ 1.0 CITY/COUNTY 51'A1'E U.S, 41'HER
Principal amo~nt unmatured,
~ BecalTl~lfl af fiscal 8dP 2 n $3 f~53 (.}2~ $ $ $ $_3 653 (.311
Ad~uStments made dur~ng
ear Ex lain 3.0
Accrued In~.c~resL 3.1 3f~3 8t33 :i(~3 F393
Prir~cipal amount received
durin fiscal ear 4.0 -c~- _fl~
Princ~pal amount matu~ed
durln fiscal ear 5.0 $ -c)- $ $ ~ $ _~}_
Total unmatured
end of f i scal ear 5 Q ~ 4 01~ ~~4 $ g 3 ~~ c~1E, {314
REDEVE~OPMENT PROJECT FIxED ASSfSS
(Do Not Report Accumuiated Project Costs as fixed AssetS)
I
3 0 3 0 3 0
A a ~nTai r
fiXE4 ASSETS Land, structure5
and im ~over~ents
~ ui ment
_ Balance be innin of ear 7 $ g g
Addit~ons (~ncludes
canstruCtion 1n ro res5
8
L855 ret~remenks 9
Ad~ustrnents -
Increase Decrease
10
Balance end of ear 11 $ ~ 3
• LG~A 80 (7/B6~
4477F/6
~. .
NUT 71PYI,zcn~sr,r
NON~AGEiVCY ~EH~ SCHEDULE C-RP
MORI~AG~ kEVENUE 80N1)S, IN~USIRIAL l]EVELOf'N4EN1 BONnS, CERI [~ ECAIES OF PARTICIPAjION Page i of i
Agency Name r~nrv~.r,or~MrNT Ac.;.F~,NCY n~~ Z~x~ clly c>r~* Sl1NTI1 MONTCA
Fiscal Year Ended ~~~ ~9 ~;F,_,_„ Pro~eck Arett, ocr~;1~N PAIZK ~'ROt7~c~r 1~ _
lJse a sep~rate col~mn for listing each bond authurtizatian not fully retired Use additi~nal pages as necessary
CODING BQXES FOR CONiRO~L.ER'S 115E QNLY ~'OTAL
Indreate type ofi debt Mortyage
Revenue Bonds, Industr~al pevelopment
Bond~_Cert~ftcai.es ofr Par~.ltt a~ tion_
~
_
Year oP aut~arizatian 1 0
Prir~cipal _amo_ynt authorized 1 ~ ~ ~ ~ $ g
Princtipa~ amaunt unissued 1.2
Rrintipal a~ount unmatured -
begZnnin of F~scal ear
~
2.0
Ad~ustments made during year
(Expl.ain
3.Q
Rr~ncipal amount ~ssued
durtin9 f7~~a1 year
4.~
Pr~nctpal arnount matured
dur~n fi5cal ear
5.0
~rincipal amount unmatured -
_.~__e n d__a f~_i s c a 1 ~e a r___~ _
~ r
6. ~
I
Prtnci al amour~t ~n default
6.1
Interest ~n defau~t 6 2
~~~ ~
" PURPOSE OF__OEBT BY Al1THORIZATIQN ~EVElVUES PLEDGEa AS A~~ITIONAL SECUHITY
_~~ecif l~ature of Revenue EXTENI'
PLEDGED
. . . .-- - ...--- -- ---- --~~---- -- _~....--...-....-~- - -....-- ----- %
_.
a
°/
P~
Y+
- - - ---. .. _... . -
,' LG~R 80 (~tEV. 7/86p
4471F/3
iVC7T n~~r,zcn~.r,r
, A5SES5E[] VALUA~IONS - A~kD - TA}( II~CREMEi~T REVE~UES $CNE~LILE D-RP
P a e 1
3 l
Agency Ndme: ftEl)TsVELO~'M~~,NT AC;3;NC'Y [~L' T3I1: CI~!'Y C1I' SANTA MnNIC'A
F~scal Year Ended 7unc~ 3c~ 19 ~~~ Pro~ect Are~ ~c~,nN F~n~wc PROJFC:~r 1~
ASSE SSE f3 VALI~AT I ON
~1 r~ 1 ~ ~
5ecu~ed Unsecured Tota~
Frozen Ba~e As~essed Valuattion 1 ~ $ $
Increment A55e55ed Valuation
2 ,
Total AssesSed Valuation 3 S ~ ~
TAX INCR~MEN~ R~VENUES
~~ rB 1 ~1
Amounts Paid to Taxing
A encies Pursuant to• H&S Code
334d1 H&S Code
33675
TOTAL
County 4 ~ 3
C~rties 5
I
Schaol Distr~cts
6 ~
Cammunit Colle e DiStr~cts 7
Spetial Districts 8
A1~ Otner A enc~es 9 _
Total Paid to
Taxir~g Aqencia5
10
$ ~_
~ _
$
Tax incremenf. available
far redevelopment ur oses
11
$
Total Tax Increment A1located 12 $
,` LGFA 80 (7/86}
4417F/10
.~ ~ ' '
~ RevYSed 11,/3/8
5TATEi3~i1T i]F INLEbT~~iNESS
F~rQC~~ YEtiF 19°S-~7 _ .
'L~~,17IFIr'~+TIF?N r` ~
(~, No~e PayabZe to_ _~
_~__ Cztv of Santa ~~an?ca
<8i ~ote Payable t.o
____ Citv nf_Santa rl~nica
r~y Note Payable to
- ~~, Pdvanc~ £xcsn Ci~y af
_.S~'~c3.~~I1lGs'~ ___.___...._...
( ~ : PL~V,3I1C~ ~SCYR C3.~ O~
' i F i Ocean p~'k~Tax 4~_...__._
L ___.B.J.1ac~n~s~~__.~---
~CG) ~
__.__ Hrn~Gi n~_'~'~~~1~,~..~~_-
,
~~TH_F~ FA+~c TOT~,LS
Lrir^-~P1C'i TOTr^tiLS.^.r___~_-----
ir^ VA Z~.r~£~L~.~F I tvRF~~. EN~~~~_
~~:.~_hE~~ ~ rti~r'~~1~3
. ~ - -• . -
f.~G~T~ECY Ni-1M~; ~,fiant-~ !~Tn*~~ r.a RP!jp~7i~7 .f'+C=7T1~,Prifi,~g r{~,g,~,~-r~ „ F'AGE 1 Or ~_
FF,~JE~T tDE~`l32FICATI~~+f: ~~~.fozn.i-a R 37/44 (Dcean park) lA - 73~
________-__________ __________._______ _--_..._________------------------------!
~F IGIi~I~L IC3TEF.~ST OUTS i~P3~II~G DF~T ~i~~ ~~LE~'IE•#~ 1'~S~-~o7 }
~iH~~ -'F:ICdCIFA~ TEnt'€ F.A~E ,]l.#NE ~{~, 1?66 ,=F~INCIF'~~ ~I~~TEr.E5T
0~01~$6~_1S_1y504~J.89 ~1~e~t ___ 1.0_00~
o fo~18~__ _-- 96g~a~o ~ ~~ __ ~ ~.o~oo~
O~b1~86-- ---- 730~~$S _ ~~e~r -- - 1Q~00~
aloi1s~_- __ z~~~3xs _ _~~e~x __ _?a;oo~
~4L2~1~~-- ---37~~fla1 ~
~? ____ __None.
i~0z184--
_ ~
~_4t36~.1000 f 2~ vzs __
, ,
- - lfl`89~
-- ---
~
j
07 2185_Tf _~, 95~813 1 Os~en ~,, ~~ne -
~/ ~~'!%/%/i~//,/~~'
~ ~
~/ ~
/ ~
/ /
f ~ ,~
.GL~.=_..._---------- /+'----i--~~----LLL=
rEJ~r~S= ~r= ihrrE~T~i~~d~~8
• { ~-~i ) A~e~s~~ r~r~fn~~ ~ ,~ ~"3~.OI'L COS~S
4 E~ ~ - r,,., ,- ., •
~ C/ F'crvPr~ ~*sm~P!'_`.'' _,~???`"' Q23 C~-D52:7L~t CDSt$
- (~ ~ ~'~7a,-a nrn~p.-} mr-L~nn c~nsr~tz~C^~t~~
S_1L579~398 ___- ----1~504L189 _ _ 751214 __~
__~LOla~300 ----- ~,
------- 969~81U _ _
_ 4$~49Z __
___ 766~,59I0~_--- ------ 73f1~0~i5 _ _ 36~504 _~_
___ 27ss5E5 _--- ---- -- zr5,~3~~ _ _ Z3~z5s ---
___ 3~4~04~ __--- ---~----=-°-=__ __=°-=~.____
_~Oi 431469 ___-
----_-----= a ~_, .
~ 434i719 ---
-- -95,~ 8 ~3 ~~,-=a =-~------
----...__-___----_......~ _.~---------------~ -
_~~_~_~~_~_~.r__ __..r~w_..~_~~~~_.~..._~_ *~
~~ _,..
E E} Acvanc~ far Oc:ean P~r?~ T ib~asy_~T .z~rov~mersts
t~; To fa_nar!ce ~inal c~hase af C~ean Par~C D~eZc~~:~t Fro~ect
i G? Lt~~ an~ I Sod~ a~e ~nc~ne I ious u~,cr 'T~~s ~ E~d _
, F~rsu~nt tc SectiQn ~~~b7a nf the Henith and S~fery Cade, ~
, I~~reby certify tnat ttie above is ~ true and ac~urate
5tat~ment o~f I~deb~edness. +~ , ' - - _ - _-
~ ~` /~2G~-~ l~ l3 !~
S~~~nature - _ ~iate .
~ .
S~F~~EhiF€~!T i7F I t~EDE~~'EDNESS
F~r' IF:T r E~-iF' 14~,~-~7
-----------------____--------___ ~I
~~.~ T
IL~r_~•~1"IFIC~~It~.t~1
~~~ 0/P Coaperation &
----.P.~imblis'.samen~_ &gr~~~t---
r ~; ~
____ 01P Off_Szte Kausing_____.
;~~ Rehabilitation of Off Site
____ Housing Unzts ___________.
' ~F~} Housing Trust Fund
S~f iiousing Trust rund
i~'~
~~}______________.______~__
~]THE~; r`Ar~ TOl F~~S
~~~;Ai~J~i TOTALS
t---_--__--_------------------
'h4tfi~~ryL~LE FINAi~CThi~
-----------~_~_ ~._..~_._
~v~r ~,~cu ~ r-,~r~~ra'r
~---_--_--_--__----------~____-
~
A~EtaCY ra~s~7~: Santa Monica Redeve~o ment Aaencv
~
Revised 11/3/86
F'AGE 2 C~F ~,~
F~F~CIJECT II7F~JTiF~CATIC~N: Californza R 37/44 (Qcean Park~. lA 73~
^-------W~~~; T C=~ ] IyE~L J_ ________-11~#TEF;ES~ ` 0I~7S~ ~11~3D 1 tdG U~~l" i~~iE ~rUn I idu 15 8~--~~7' E
- _ - , ~.ATE ~uN~ ?iy, 198ia ^~~~I~~iC1F'RL ilaTtF;E57
D~ SC ~~F:3 t•sr I~~AL TEF.C~4
9[10,185_-- --3L760„jQ30 - -- Qp.~31-----I11~~__..._ _~__1a-.f~.~`~2.___.......~ _1~~z5~~~..2..- -=~_---...,
.9L~~,_[$5__~ ,.___ 383,~608 - -- (~~n------~~-'_..._.__---____~82~.~.~1_.._...._...__- ___2.~j$$.~--=Q~------
5~,8184
__ ~._... 2L8101&UO
__ __ 50 yr,s~___I~Qx.~......_---...___2a.t~lu.~.~Q----- M___~5,~~12 __-Q~_..,.___
I~~9/4/84
_.__......_-- 285 510
-------- r.r...-- Dpen None __226~772r`~~_-
-__~.__----~----__---__ __.__ --`r226,772 --0-
------_...__
7/1/85 . 365,OUQ Open Noaie 398,398 __39a,398 ___0~
___-.__-- -~ -----------~--~--~--_----.__~_.,.--
-~------_._w.~~.~~ ..~ ------------_..___----------~----
_r. v-,.-/- .~-rr.- -~'^~-~'~ _--_-------
,=~u~;F~~S~ o~= i ra~i~~T~DCa~55
~ ~~ ) ._..9,~.~'_..~e.r3,~rh Tmnrovements & On ~.~G.~~~S...
~; FY ~ ___Q~f....S.71.~~~_, Housin~- __._.....__..__~.__.._
t C~, r,r~~~~f Un~,~,s a.~,~7~ Q~~.s3lL~ark Boul.~vard
(L~ ~ 7,nw.,~,~q ~r~t~ 7nc-ome, Housirig Trust_,~',und
$19,692,886, $5,$93,429 $60$,190
$ 1,45b,381 476,62b $434,719
_...__.....^~_~~~----- --~.r..,.._.r_-~_~~.._~_..._~.,
$18,242,505 $5,416,803 $173,471 ~
( E)__~Q,y,r. & Mo~~,ate TTi _r+mn FdnriG7 n~ m___~___..,,~~~nd
(FY_ _
EG)
~'~,r~~~_int L~~ SFction ~ti~f:~7~ af the k-I~~t] t~ ~nci 5a~etv Cflcie,
' 1 he~-~bv c~rti~}~ tnat ti~e abov~ x~ a true and accurate
' `t~xtem~nt Q~ Indebt~dness.
~ ~~ ~ ~~
~+ ] O 1~ ~ ~_..t' `_ ~ _. ~ ~1 e~ j= E' _...._. ~....T_,_~~
$14,610,383 $3,565,2I6 $608,190
ANNUAL REPORT OF F~NANCIAL jRANSACT~ONS
flf COMMUNITY RE~EVE~OPMENI~ AGENCjES
PRO~E~~ AREA REPORT
STAT~ USE d~~Y
Reviewed Cleared
PleaSe provide a brief description of the
pro~ect areas actlvztie5 on the lines below.
Ocean i~~~rk kedevc~Jc~pme.~1L Pr~~~ec.t 1(h) as ~outlierii
portion of tY~e L7.8 acre prn.~ecl- in the aoutYiwe~tezri
corri~r c~fi the Cii,y ad_~acc:nt to S~~nt~~ Mc~nic.~ h~ac:h.
This ~rc~:~cet area cc.~nt~ains 1(.)0 uri~ t, of" fer.iexally-
sub:7idi~~~d Si~c:tioii "1.36 senior ~i t.t~en ~ic~u.~ing w111c1i
are .["iz I ly aecu}~ied. I~flt~:,~: 1 of tkic~ hous.~.ny was com-
plete~i in 1~)77 and ,F~has~ 2 zn 7~3~33. 'I'he C)ccari F°ark
~'ro.~ect lb ~ff-slte ac:t.~vttzes ~ric.ludc cc>ntributlriq
iLs F~rc~~ortic~t7~tte sliarG c.~l t hc: ioSL to c.on.,truCl. a
~3.H~~ ac.re ~~.>t~rk ~n 3~~x~}ect I~xea la, Ln reYiab~litatc~
ar~d ~xpartd th~ Uc;~an P~rk Iir<~nrh L~brary c.om~~lc~Ced zn
198.5, Lv [,t~n.;truc,t 1Tnf-~rUV~mc~nts to l.lle k~e~lch ad~acc:nt.
tn Lt•ac ~~r~.,7ecL extc~ndlnc~ nc~rtlt Lo Bicknes:ll Av~~nue L-o
be _c.oinE~lc•tcd ii~ ~arly 1~387, and tn ~otistruc.t 1:3a urii t
of afF~Yd~blc. hou,~inq iii Llle surrc~undinq com[nunity.
LGFA 80 (7/85}
4477F/1
State Use On
proieet ID
FORM 00~-RP
0 i
Pledse af~ix label an~ correct label ~f neces5arv
~
- -
A6ENCY NAME
.~__ ~ ....
_
REI)}~,VN~l~C)PM~NT A(;]~,NCY OP' 'I'FIr CITY OF' SAN'i'A MONiCA
NAME OF PROJEC~ ARfA
c,cLArr ~~n zzx ~ ~
.
~ate pro~ect area uas
established I~M-D~-YY 1 1-2~ -h.l
Mast recent date 2 ~mended o~-.]2 -~~
pro~ect was amended
or mer ed MM-DU-YY 3 Mer ed - -
Estimated com~letfon
da te ear on 1 4 1<~f;~
Established ~imit for
~onded indebtedness
.{if applicablel 5 $ N/~
Established 1}m1t for
tax increment
revenues 6 g N~~
S1ze of pra~ect
area - in acres 7 6,
P~rcentage of land
YaC~n L ~ ~)°~a
Percentac~e of lan~
develo ed 9 lc~o°ti
Objectiues of pro1ect ~0 i~z ~ i f T~
area as se~, forth in
the pro~ect area R= Residential
pla~. Enter the I~ Industrial
appropriate code(s). C = Cort~nercial
P = Public
0 = Other
~ fNGC~IE STATEMENT
, Fiscal wear ~nded Ju«e 30
FORM 2DQ-RP
Agency -Vame RPDL'VP:,LOT'M];N7' AV]~,NC:Y DF THE C T'1'Y S}~;' SZ1N"I'71 M0111TC;A P~~ i
19~;~? Pro~ect Rrea oc~nN ~~nxx :~~ n 5
A ~B C D E
REV'FNUCS CaRzta~ grn~:ts
furxt OetK. Seruia
Fund ~ou/1ladesate
Incnne 1lousin ~uIG Sqectai Reve~~sef
Otrier F~nCs l'(7~~4L
Tax lncrement 1 $ ~~0,475 ~ ~ 1_3~,f)00 $ $ ?15,475
S~e~ial suppZernental su~~~ntic~rrs 2
Pro~ertv assessr~ents 3
5ales ;~ use tax
4 ~
f
Interest incane
5
131,~,y
i~ ~~1 k
z~i,~3o
Rp~tal incc~me 6
~ease ir~cane 7
5~1~ of real praperty g
Federal ara~nts 9
Grants fram other age~cies 1~
Bond aci~inistr~tive f~~s 1 i
!
?Lher revenues
12
Total Re4enues ~3 S21z,234 $ $ 1~3~,~~1 $ $ :3~°~,005
E~lFENOITUP~S
pdmini5t~3t10f~ Cc~~tS 14 $ ~)3 2:>_5 ~ ~ $ ~ ~33,`.1.25
Professzonal ser~ices 15 ~ ~1~~ ~,~1,
Pl~nni~g, survey & desi~n 15
Real ~st~te urcha~es 17
Expenditures Sub-~otal {car~y m~~ne ~5, va~e i) (~8i Sinz,~~~ca S $ $ $ 1c~2.~~0
~
~GF,4 8C~ (~~ 7~es)
~ ~'~;~ ~ME ~T.~TEMEN~
~15C3? Y°d: ~r'~~~ .TUIIe 30 ~c',~' Fi6
Agen~y N~~ kEU~V~LO~'MT'NT, AC~l:[yLY_ ,~ LE CITY {~i? _~Ai~~I~A Mc~NIC7,
r^ra ject Area oc~niv ~~nxx z~
FORM 2~0-RP
P3ge 2
a~
A B C 0 E
E;~F~NOITUR~S -- ccnt'd Capstal Pra ~ects
;~;d ~ I~DL Seruice
F~~ taWlltoderate
~,c~~ Ho~rz~ ~um Spenai R~euuel
t~c~er w~as
TOTFiL
5ub-tOt~l ~firon 1lne 19 pa.ge 1} ~1 ~~ $ I Oz , 940 ~ $ ~j $ IU2 , 940
ACqulslr10~1 ex;]~t~S~ ~fl
C~~B1'3tl'JI' af a~:quired pr~~~rty 2~
Reiacat~on costs 2~
Relacatior- ~avrner~ts
23 ~
Slte ~:Izara~c~ c~s~s 24
~'ro~ect i~provementfcanstruction costs 2~ ~si H~>e, hF31 f35~
~is osal costs ~~
Rehabilatatian casts ~7
Rehabi~.:~tation grants 28
~ntere$t e ense 29 1f34,.3~i iE~o,~t3E3 j~,,i,~
~
~:,X~c~ ~SaC~ 3CQl:~~l~it7fl5
30
Su~szdies to ~aw & moderatQ hou~~ng 31 41,2i~ z~} ~oo ~~n ~ai4
Qther e~erditures 32
~dva~~s 8~ d~bt prY~ci~a~. pa~ments
Tax a1?ac~~ion bords
~~
I
Revenue bonds ~4 '
~ity}co~nty loans 35
Ot~er lnnq-terrn debt 3fi
Tota~ expenditures 37 $l,c)lc),3F31 $160.786 ~z~.~LOD- - --- - I . ~ ------.--.---- ~ , ,,,,,, °~„-~
~.GF~ 80 f~e~ ~~6)
FORM 2Q0-RP
Page 3
1~1GCME STATE~.I~RT ~ 5
age~~v N~~: ~orvrr~OPMPNT AC~1~,NCY UP' 1'HL Cl'I'Y ()F SnNTA MQNTC;A
Fiscal Y~ar ~nd~d ,~w"' 3Cr 19 f~;~' Praject Area: ~c~~rr ~>nrzx .l~
A B ~ D ~
~XPENDIT~IRES - cor~t' d ~ ~~~.~m 9~~ ~m~ e~~~ Intane Na~utp fund ~~ ~~ e~ TO~R~
Excess EDef~ciencyl
REVef~ues OvE~' ~lfid~l' ~ ~ndi~ll~ES 11~ 13- Fine 3
~S
~( 7~38 1~7)
~ (16U,7YFi)
~ 11a,U71
$
~( ~i:i:3,s62)
~T~1ER F~NANCI~ SOEJRy~S tI~S~S;.
~r~~ceeds et ~a~ -te: r~ deb~ ,
39
~dvanc~s fram wity/county
~U
.~ 'i~4 r ~9(:I ,
a 3~ , ~~~o
S~1~ of flxed C~SS~t~ ~~ J7~~Eil~J r)77~~51FJ
Clperating transfers in 42 E,~,4oc~ F~~,~c~c~
Op~r~tin~ Lransfers ~ut 4~ ~ ~F~,s~~~ ~ ~ ~ ~ ~ ~ } ~ c~c~,t;5~a .~
Total - Dther Financin Sources (Uses} ~~ ~ ~,~, :i4~ ~ t~~ 400 $ -ca- ~ $ ~0~3,~4~
~xcess (Defici~ncy) of Reven~,es & Other
F3nancing Sources Q~rer ~xpendi~tures &
Oth~i~ ~],nBRCZI~ ~~c~c (l~a 38 * ls~e 44~
45
~( 1~z,800)
$ ( 9E~,3F~E>)
$ .1;~~,U71
$
~( 124,11~)
I
E ul~ , E~~ :~~~71C3 o~F Period
4~'j
~ 1,258,'777 ~
$ 2ti:3,F~63
10~~,~i33
l,~i~iti,973
Ad justmerrtS.
i a n ~
47
l,a`,~
z,~5f.3
~ ~ ~• ~ f 4$
L7ther - ex 1~ir~ `~9
5~
~~Equity, End of Period tnusc equnl Forn tipo-~. ~ine 39, peqe 1) 5~ ~ $ l.lo~.~~~ ~ $ if~~3,~:35 $ z31,r~>a4 $ $ t, ~,2~ r3.1 h
LGFA 80 {ttev ~196?
~A6ENCY aEB~
~Ax AL~QCAliON SDNtiS,
SCHEDULE R-RP
REVENUE BONDS ANti CERTf~ICA~~S OF PARTICIPATI~N Page ~ of ~
Agenty N~me; FtL:DE'VFI~OPMTIVT 11C,LNC:Y UT~' THE CITY OF' SAN']'A MDNTC'A
Fiscal Year Ended _ ~ l9 ~U grofect At'ed, OCF.7~N PIIRIC 1~
tfse a s~parate column ~ar listing each bond authortization nnt fu11y r~tlred, Use ddditional pages as necessary.
CODING BOXE5 FOR CONTRO~LER'S U$E ONLY TDTAL
Sndicdte type ot debt: lax A~~ocat~on
Bond, Revenue Bo~-d or Certificate
of Parti~iAat~on ~~nx
~r,z~~CAT~ON
}3C1Nll
Year of duthorizat~on 1 0 ~yH4
Princ~ al amount authorized l.l ~ 1,~-3`-a~t~~~~~ $ $ g ' g~,53~3,aoc~
Princi al amount unissued 1.2 -~~- -{~-
Princ~pal ~mount u~matured -
be innin of f~scal e~r
2.0
~-,~-3`~,[~~71}
1,5:i~J,00U
Ad~ustmer~t~ made during year
E x 1 a i n
3. 0
-~~-
-~~~-
Principai amount issued
durin fi5cal ear
4,0
T~~
-~~-
Prlncipal amount matured
durin f~scal edr
5.0
-~-
-o-
Pri~c~pal amount unmatured -
EfIC) Of f~scal ~df
(j,4
1r539~0(70
1~~i3~~000
P~~nciqal amount in default~
6.~
-~}- (
-~~-
Interes~. in defaujt 6.2 -~` ~«~
P~RPQSE QF DEBT 8Y AlJTH~RIZATIDN REVENUE5 PLEDGED A5 AO~ITIONAL SECURITY
S ec~f Nature of Revenue ExTENT
P~EDGED
'1'o aid ~ri fznanctni{ Oc~r~~~n l~~zrk F~.ro~cr.t Ntunher lIi Tax inc;remc~nL lU(~lf,
o~
•
r
~
x
LGFA 80 (REII. 7/86)
4477F/2
'OTHER tO~G-~ERM INqEBTEdNE5S & FIXED ASSETS SCHEDULE B-~P
Agency Name. RFnL;V]?LOPMLNT AC1~:NCY UF '.1'HE C'1'1'Y UI~' ~L11~'1'A MC)N~CI~
F~scal Year ~nded .Tunr.~_3(?, 19 f3h Pro~eet Area oc~~N YI1RK 1B
OTHER LONG-TER~? INDEBT~DNESS
1 6 1 7 1 8 1 9
A A fl a rnrni
OjHER LONG TERM INdE9TEpNESS 1.0 CIF~!lCOI~NjY STATE U.S. 0~lifR
Prtncipal amount unmatured,
Bec~inntin of fiscal ear 2 0 g 1,3~~.i,11t3 ~ ~ g ~ 1,35i,118
Adjustments made during
year ~x lain 3.0
nc~ru~~a ~r~tE~YC.;t 3.1 ~" rc ~ : 4 ~-~ c
Principal amount received
durin fiscal ear 4.0
Princ~pal amaunt matured
d~rin fistal ear 5.0 ~ $ $ y $
~otal unmatured
end of fiscal ear 5 0 ~ ~ $ ~ ~ $ ~
REDEVELOPMENT PR03~CT' FIXE~ ASSETS
(Do Hot Repork Aceumulated Pro~ect Costs a5 Fixe~ Assets)
I
3 0 3 0 3 0
A R Tf1TA1 c
FIxEQ ASSETS Land, St~UCtU~~'S
and im rovements
E ui ment
: Balance be innin of ear 7 $ 3 $
Add~t~ons (includes
construction in_progress
$
Less ret4reme~ts 9
Ad1ustments -
Increase 4ec~e~~e
14
Balance_, end ofi year 1~ $ $ 3
-~ ~GFA 80 (7/8b)
4477F/6
~, .
• N(7T n~r.r,zcAri~,~~,
N4N-AGENCY Df~~ " SCHEO~LE C-RP
MORIGAGF REVENLi~ BONUS, INllUS1ftIAt fIEUELOPMENl BQNpS, CERIIFICAIES aF PARTICIPATION Page 1 of 1
Aqency Name' r,'Lp~VI~:,I,O1~M:li,IV'.1~11G~NCY OI' TIIF; CITY Ul~ SAN`.f'I1 MONiC:I~ ~
Fiscal Year Er~~ed .1une :i0, }g ~~ Pro~ect Area: oc~aN P~~x ~~
Use a separate calumn for ~isting each bond duthor~zatlon not fully re~.ired llse addit~onal pages as neces5ary.
r
COUING BOXES F4R CQ~I~ROLLER'S USE ONLY TpTAI
ir~d~cate Lype of debt S~ortgage
Revenue Bonds, Industrial Development
8and5~_Cert~ficat~5__of_Partic~pak~on
_
Year of authorization 1.0
Princtipal amount author~zed 1.1 , ~ ~ ~ $
Prinri ~l amoun~. unissued ~.2
Pr~ncipal amount unmatured -
beginning af fiscal ear
~
2.Q
Ad~ustments made dur~ng year
(Explain)
3.0
Prlncipal amounk ~ssued
dur~n~ fi5ca~ Year
4,0
Pr~ncipal amounE matured
during fi5cdl yedr__
5.0
Princ~pal amount unmat~red -
end ~f Fiscal year
^
b.0
I
Pr~nciQal ar~ount in deE~ult
6.1
_~
Intere5t ~n default 5 2
~ PURPOSE OF DEBT BY AEJ1'HORIZATION REVENUES PLE~GED AS AOpITIaNAL SECIlRITY
S ecif Nature af Revenue EXTEI~T
PLE~GE~
%
s/
~
X
_- tGFA 8~ (REV. 7/86}
4477F/3
` NC)T nrrr,zcnr~r r
. 115SE55E0 VALIiATlON5 - AN[] - fA?( INC~EMENf kEVE~IUES SCk4E0ULE p-RP
P a e ~
3 1
Agency Name: x1:ni~~V}?LUPMEN'1' AC,~NC'Y OF Tfir, CTTY OF SANTA MON'.[CA
F~SCal Year fnded _ ,~u~za 30 19 E36 Froject Are~ _c~c~~ P~r~x 1B
ASSESSE~ VALIlATiON
f" a i f R~ i~r 1
5ecured Unsecured ~otal
Frozen aase Assessed Valuation 1 $ g $
Increment A55@55~d Vd~Ud~lOf1
2 .
Total Assessed Va~uat~on 3 3 $ $
TAx INCREMENT REVENUES
(a1 fR~ ~r-1
A~~nunts Pald ko laxing
Agencies Pursuant to: H&S Cade
33401 H&S Code
33576
TOtAL
Count 4 ~ $
Cities 5
~
Schaql ai5tricts
5
.
Commun~t Calle e Distriets 7
S ecial DiStricts $
All Othe~ Agenc~es 9 _
Totdl Paid to
Taxing Agenc~es
1Q
~
$
$
Tax Increment availab~e
for r_edevelapment ur o5es
11
~
Total Tax Increment Allocated i2 $
.LGFA 80 (7/86)
` 4471~ /~ 0
~ ~evised iI 3 36!
~ // ~
'4TEF-1~s•tT OF Id~lGE~TED~l~3~
~~~"?FT 'YF4,F 19°a-d7 ---
. ~~ ~
:=wiiTirlC~iI3~i+J
Note Payable to-:r_ ~
`~ City of Santa Monica ~__ ~
___-
_~---
- OI/QI/$6 ' 556 344
~---_-----_
-- - ' __
- Z~~
P~o te Payable ta
t
~ ~ ~
~
.
,_
' City o~
Santa~Moni.ca_ ~
~ O1/OIJ86 _
~W ~ ,~ 358~697___ i ~-_~~~ _
_
___-Note Payab,Le to
j
5 ~
Citv of Santa rianica__,~_
_`
-~_~ _ 41101~8b
_ _ _ 270~032___
l~eax
__ _
_
- - -
~ ~ ~ Advance~from C~.ty
` ~
~
of Santa Monzca
- - --------- OI 0$~ 8
- L~-I_~-~--~-~-~---
1_~ea.rr _
r_ ~ Advance from C~.ty
~ I-
_~__ of San~a ~4on~~a --------- - ~~l?~~~*
T 1, ~1~$~~~! _ r.~~t~__.
Ocean Park Tax
, I ~
~ ~
,
...____Alloca~~,on Bonds --------~ - 1QL01184 f I~~~~Q94--- __?Z~xS...
~Gi
____Housing Trust Fund
~7i-iEr=: -~`,~G~ TL'~'F~L~
~~~ ~~lD TOTn~.5
~'~JHILAF~~ FINAhJCING
~•t[ i ~E[~tlIFicF'l~~1~ ~~
~
`/.
Il.il-~r~~a i
'RATC
ii
~ r '~.
--____--...__~...r.~---__..u__ ----------.. ~.
--_________----~------_.-_.,.----- ~ ---------_,
r'JS'•.l=(]j~ ~1= 1~`~L'~~~LUT'1C.:+,~
~ ;~ Redeve~onc~enC ~.nd o~era*_:.on costs - (~i „Ari~v ,~~c,p, fnr C}r_e,an ~a~,i~.I'~'1S3r,~~„mnr~-~-.~~fom~ant$
'~ [}LJer3CIQiZ COSLS _„ "F~ ~'(~ ~^'n~!?irs~ ~TnaT nh~~o n~ fSrn~n?aYk Tla
` , ve~opment Praject
~.+~~ Federa~ ~rg~ect gortlon_~,~o,~eout costs iG) I.ota ~n~~,'*Qd~rare Tnr2*~e uaus~s T,-,f~r xund
~~~~ ",~ed~,;,3,]„~ro~e ,~ vort~on, closeout r_as~s
, , . '•
e~+ar~uant tn Section ~~b7~ ~t the I~~aith and 5afery Cade,
'1 i~er_~y Cer,afy tha.~ ~he a~ove a~ ~ true a~d ac~+~rat~
St~t~m~nt ot Indeb'tpdne~5, ~ - ' - - •
~~ /f'~~~- Ii/~(~~ • •
- .., ,_
.;
A~Erd~Y TJAf'!~: Sanra Monica Ftedevelopmant Agenc}*
PAG~ i ^F 2
.._ _ __ Ff=:03~.~T I~rE~i; TFI~'~TI+?t~1: Calzfarnia R 37/44 (Ocean Park) IB-27~ ~
---- ----------i ~---------____----__
I1r y ~ I ~•~'~L
~,HTE ~I~~IrarIFHL ~E~-.M
~]~J~'~`~'.1 I ri4'ILtl~~7 ~'GL~~~^L~i I~ ~'l~C 1S ~~jY], -~O`7 ~
,IUh~lE ~~~, 19~~ C.EI~~CIF'f;L 1Li~1TEnEST
------_-~-____---- ----~_._.,_~_--
~~~~~_--__^~~~ $584,I61 27,$17
~__--_------i~--- -• -
__3~6~,b.a~--__,~___ I 37b,b32`_ i ~7,935
~ _--~--, _
I
__283,.i~----------283,533__ j I3,502
---ti-r-..y
~
--1~,3-+~-~$--------- 103 r 038 j 4 ~907
T ~s~ ~~t~ I ~ -fl- _ _.~ ry
4 { *y.
_~
3,918,133______________-~.=_.~- ~--15~],~5~__
~~~.,_j. __~~..~......______---~~------~------
/ .E ^
~
4
, S
~ Revised 11/~
S7A'~~f~i~f~7 UF Ii*1~EbTE~t•dES~
F'~s `~F;T `s ~~--F' 1986--~7
~~~5
I~~~_i~T I~ I G~~ ~~t~f D~"f E
----~'JP""~oopexation` &___------ -------
~'~'. Re~mbursement Agreement`: 09/10/B5
{~~ 0/P_Ofif Szte Housing T--T 09JZ0/8S
~~~ Rehabilit~tio3~ of off
--- Szte_Housing Un~ts____,~_ _a~l_81~~_
~ l r~ f Hotasxng Trust ~und 09/4/84
~Ef Housing Trust Fund 07/1/85
~F'~
(G)
~.~._~._._...~._ ; Ti
~JTI-IER_F'~+~~_TOl ALS~--_W~.___ ~
"rzR?~l~r 7l37~LS /
____.~________.~__________..._
'~r-;~ar=,1L~~~~ FINr~CdC;~rJG
; ---___._.~_~_ '
~r~ECI' R~G~U 1 ~iE~~~`dT
~-------___--_--__-----__--_~--y ------
~+i'aE1~ICY ~JAr•1E: Santa Mon~ca Rec~evelopment Actencv F'AGE 1 ~F 2_
F'~;0~7ECT lI)E~JTI~ICATIO~d: Calafornza R 37/44 (Ocean Park) 1B - 27~
F~ T C~ td~~. ~ i~~TE~;~ST ~UTST ~hlD 1 E~IC~ LtE{'T
F' 1 t~1C I F~AL '1'EF;t'~ F;~7E ~I UI~kE ~:c:~ y 19BEs
-----_r~.~.~ ____--------,
I~~iE I~~1~;Tru4 1,~~-~~; `
r'RIIdCI~'r'~L Ii~l7E~;~S~ ~~
-__________________~ ;
1,39U,696 Open None 505,215 5U5,215
--- ----- -0- ~
--
__^.
14~,883
Open None
103,887
.
~ 1~3,887
,
-Q-
I
~~931.,1~~~__~Q_yx.s..____sio~~.~___ _.~1~4?~~~lQ--
1C34,4~fl ~ 4pen None 84,251
135,000 Open None 147,353
__----~_; ~_-----_ ___R_~___ __.._~~.___~___
~=~~~~~r~~7SE Or Sr~1~iE~7~~ira~SS
{ ro ~ -4~p~.ach_.sm}ax.~z~meD.t$..._.&....QrL~1t~~~
t E f nf f c, ta Hn, c~~¢. _.__._.._.~---------
t ~' f ...Leas~_.,~zf.~Iuz.ts _...at _.~_7.~_.4~~u_.~.ar.1L,~.1.vsi.~_
+' I'` ~ ,I.C21nL.S~'LL11d~Y3tL.._ZIlG~mP _Flrn~c~ n~.Tr1Li~_,~.L1Iti~
~ ~$5,463,841
f ' $7,338,047
------- ---- 2 D ~7 9 ~-----_ ~ ~ _ ~. ~
~4~251 -0-
147,353 -Q-
_________--------
w~------$1' 3a2 , 8~1!$~24 , 947 ___
,y------$2' 244, 297_$224, 947 T_~
$ 536,442 $ 176,287 $160,7Bf ''
____..._--------------------.,._~_________~ i
$5,801,505 $2,068,~10 $ 54,1~a1 ~
__.~_____~_---_____-________ _________~
i
~~y ,_.._,~C?w & Mod~,r~,te T•nrnmP jan~,~,n~ Trl7St Fund ~
(F; -
c c a -_.____.
t-'L~r~t~~,r~t tv ~+~Ct.l G~i ~~f~75 o~f th~ f•ie~1] th ~~r~d S«f e±~v Ct~de,
I t-~=r-~by cer-tlfv tnat ti~e above i~ ~ ti~u~ ar~d accur~.te
St~t~n~~nt of Inde~ted~r~~s.
---~-- __..~.._._._.~__ ..~._..___ ~ ~3~~-~---__.___.--____
,.~~7.aI-1~1-t~~ E' 1lc~i.=E'
~
r
, ~C~E~ULE HC~'
{Consis~ing of 6 pages, inclu~tng ~nstr~ctions fo~ eompleti~g the questionna~re~
The infar4nati~n pr~vided a~ t~is form wil~ be made avaiiable to the ~epartment of Mousing a~d Community Deve~apment.
Questians ~~elat~d tv thes~ fcrms should ~~ directe~ to that Departme~t (telephone: (916) 323-318~). Before prvviding the
pro~~cr area ~nformation requestied~ ~iease be sure ta complete the following informa~fon:
AGENCY NA~~ ;,nrrT~ Mc~NZCn RrnrvrLC~rMr,~T Ac;r,NCY PERSON PR~PARING SCI~EDEILE HCQ r~T~,7, ,~IAs
CDUN~Y IN WNICN ~OCAT~D Los ~N~~~L~s TELEPHON~ N~1M4ER FOR PREPARER ~~1:; !}~}ti-F32G6
RFPORtING PERIO~ (F1SCAl. YEAR} ENDED JuNF, ,ic~ , 19a6.
~hank yotx. 7he inforrnation requested is req~a~red for ~ach pro~ect area, as well as the total agency where indicated,
regard~ess af wheth~r each activity is funde~ exc~usively by the state ar federal governmEnt.
5pace is provided below so that you can name ~dch pro~ect area and assign ~o it a letter d~signation which will th~n
be used to identify that pro~ect area throughout th~is report7ng farm. (See the letter designat~ons at the head af
each ~olumr~.} If you operate more than f3ve project areas, please malce sufficient copies of these farms to allow
for th~ requjred report and change the letter designations on those copies to G, F!, I, J, K~ etc.
E
F
a DC~WN7'OWN R~;T)]'Vl~:l,()1?~11~;NT PhC3J~C;7'
~Jame of Project Area
g OCI~'11N ~'ARK R1;U1~,V1~;J ~(_)I'M1~,NT F~~rzo~r,'CT ( lA)
~la~ne ofi Pro~ect Area
~ UC1~;AN Pl1f2K }tEDEVELDPM~NT P]:Ot71~;C'1' (.113)
l~ame af Froject Area
D
l~ame o~ Aro~ect ArPa
Name of Pro~ect Area
Name of Pro~ect Area
Pl~ase be sure to enter project area ~nformation in the properly idEntifted colunm on the fal]awing four pages.
~
.,
St;FiEDUl.E F~iC~ (Page 2 af 5)
TAx INCREMEt~T SE7-ASTDE POLICI~S
AGE~lGY SANTA MONIC71 RFnT'VT'T~f?i~MT'NT A(;t~,NCY
1LGE NCY
~., Naine o~ Project Area (A) (B} (C) (D) (E} (F) 1'OTALS
2. Is ZO;~ of the tax ~ncr~ments
for the project area being
set-asic~e in a Low and N~~ Yr ~ Yi'~s
~laderate Income ~9ousi ng Fund? ,
(Answer yes or no)
3. If less ~.han 20~ is being set-
aslde, ~Zease Zna~ca~e the ~~.15~~7 ~/A N/~
proper percentage
4~ If you answered "no" to question kIAVI,
2, when wer~ the necessary ~~2, Y~,i,
fzndin~s advpted? (Answer ~~~~ M~~~ N/n N/A
montn/daylyear)
5. Are tax increment set-asid~s
being deferred pursuant to N~ ~v/~ N/~
Sectio+~ 33487(d)(Answer yes
or na)
6. It you answered yes to question
5 please indicate the deficit
amount credi~.ed to the F{ousing N~~ ~~~ N/n
Furtd as a res~elt of the deferral
On the followirg page {page 3), please enter the inforr~ation u~der '~he a~propr~ate columr~ designa~ed for the proJect area
which geneTated ~he Low and Moderate lncome Housing Fundo Question lb relates to the use af 'that ~und w~~hout rega~d to
rhe location of ~he ur~its assisted.
Questians c~n page 4 relate ta housZng activit~~s and care should he taken to enter ~he in~or~naCion under a pro~ect area
~esignation onl if the activit took lace within that roje~t area. Where the activity toak place au~side a project
area, it should be included under A~ENCY TOTALS. Fnr instance~ if the agency assisted the construction of 10 units in
Fro,~ect A, 20 units in praject a, and 50 units outside the redevelopment area, t~e AGENCY TOTALS calumn would show 8Q
~~rts consCructed with agency assistance~ and indicate the location of 30 of those units within pro~ect areas A and B.
. ( 1} !]ii adattionri.l Ei, 3ti of Lax ln~rer•tersL wa.~ u~,ce3 fr~r l~oustnq x~rncir~~ms that k~eric~fittr:~d 1c.>w <~n~! very low 1 ncome
~ I~er.-,on:, and f amil.~es wliach i~~ c:LaSSlfic~d a„ an exi sLznc~ c~h] iq<~tin~~ oL Lliz.~ aqcrycy.
SC~E[)ULE ~CD tpage 3 ofi 5)
AG~NCYs~~i~rl+ Mnrvirn F~F~~i~~,~~n,~i.nr~tvrr~~nlm nr.rn~r~y
FNFORl~IATIOh R~~.ATEp TO THE LOW AND MODERAl'~ I~lCOME HOllSING FtIND REQUIRED ~'OR EACH PROJECT AR£A
NAME OF PRDJ~CT AREA (A) {~) (C) (D) (E) ~F) AGEHCY TOTALS
7. Beginn2ng balarrce i,oo3,2~~, 2t~~,oz~.; :i~h,533 ~ 3~~~ f3~~7
,~ ,
8. Tax incre~ents added
during fiY 85~$6 55,h34 :;c,~,c.~c~c~ i35,oo0 ~,~,~~,,E>_3a
9. Interest ad~ed during
FY ~5-E36 r;2,sr~2 53,~~z 1y,7~1 lri6~(}1ri
10. Other r~v~nues added (Pl~ase
speci fy source, i.e. , aud3 t) _~~_ _~~_ ~~_ _~~,
I1. Totai ~'F~-V~~1U8S ddd~d ~~+9•~IO~ ~,3~~~3f~ 418,~47 1~~,771 7~1,649
12. Total expendYtures (including
di sburseE~ients for laans
duri ng ~'Y 85-$6) ~1~~~~g ti;i .~~?~~
' zy ~~,?{,~
' ~
'3~, 0~'t:i
13. Ba~ ar~ce a~ er~d oF re ort 1 rt
~ ~
period ,
77.~,E~44 ~
f~2~,17U ,
~31,604
I, ~7Z,418
14. Amount vf loans inc]~ded in
I~em 12 41~<<]t3f3 ~1 3ao
~ z~~ 7i~u
~ r-~
~37,o~3H
15. Amount of balance s~own in
13, above, which represents 2~~~~2~ _t~_ T~J, ~~l~o~~
commitments not yet disbursed
16. Number of hous~ng units (*)
assisted b the Fiausin Fund
a r~ :
Ver 1 ow i ncome househo ds -c~- --r~- -o~ _{~_
Low ~ncome househ~lds -o- -u- -o- _{~_
Moderate ~ncome hou5eho s -o- -c~- -o- ~ -o-
Ot er ~ ncome househol ds -c:~- -t~- -c7- _~~_
*S~E "fIEFIlVI~IONS", SCN£DUL~ IiC~ PAG~ 4, FOR II~COME ~.EVEL DES~RIPTIQlVS, AND ATTACH INFORMATiON REQIJIR~D TO COMPLY 4~ITH
~IE:ALTH AN[) SAFETY GODE SF_CTION 33334.2(J)
.
(*? - Aycncy J~~,z::, r~s~.,i:~tcd 33 unit.;, (4 vory low lric.c.~mc~; tf~ low ~r~come; and 3 modEratcs ixic,c~mc:)
y ~ i.}~al are lri ~,rocare.>:,.
S~NEDULE ~~Cf~ (Page 4 of 5)
AGENCY4~vTA r~c~NZC.~n Rrnrvr~,r,~~~M.i~,rv~r 1~(~ELVCY
fFF~CtS Gr R~D~V~l.OPP~EN'~ t1P0~1 HOU5TNG (Pursuant to Health ana Safety Code 33Da0.1, 33080.4, and 330~0.6)
NAME OF PROJ~CT AR~A ~A) (B) (C} (p) (E) (F) 1~GEI~CY TOTALS
17, humber of 1~ouseha~ds displaced
durtn fisCat ear ~ust ENDED:
Ver ~ow Incame ouse o s _o_ _~~_ _~~_
tow Incar~e Hause~ojds -U-- -U- -c~- -c)-
Moderat~ lncome F4ouseho s -o- -o- -o- -o-
Other Househol ds --u- -c~- -c~- -c~-
18. Nurnber oi Un~ts destr~oye
re,noveci hy the agency du~i ng
f~scal year ~usted ENDED for:
~
Ver Low Incame fiousehol ds -o-- -o- -p- -c,~~
tiow Income ~IOk~S@hOldS -p- _(}_ -O- -p-
~~erate Yncome liousehol ds
'~ -c~- -o- ~ -o- ~ _r~_
Other Househol ds --ci- -c:~-
~ -o- _c -
I9. N~mker r,f un,~~s cflnstructed
with agtney a$szstance
during ~fiscal year just ENDED
affordable ~or:
Ve~ tow lncokne Households -o- -o- -c~- -p-
Low Income Househo ds -c.r- -c.~- --o-~ _~~_
Maderate income FioUSeholds -o- -r~- --c~- -o-
Other Households -o- -c~- -o- -o-
20. Num~~r af units rehabiZitated
with age~acy assjstance during
~iseal year just ENDED
affordable for•
er Law Income Househo ds -c~- -c~- --c -
~.ow ~ncome House o s --U-- -n-~ -c~- _~}-
Moderate Income Househol~s -o- -o- -o- ~ -o-
Ot ier No~se o s -o- -o- -c7- -o-
. urn er o un~ts acqui red by
the agency dur~~ng fiscal year
~ust END£D affordable fior:
Very l.ow Income I{DU5@ o ds -o- -o- -o- -c:~-
Low ir~come l~ouse o ds -o- -o- -o- -o-
~~oderate Income House o s -n- -o- -r.~- -c.~-
ther ~louseho s -o- -c~- --a-- -~~-
~ . . . .
~~E "U~FINITIONS"~ SCNEDULE HCD PAGE 4, FD~t II~CQM~ I.~VEL DESCRIP~IONS,
~
.
.
.
SCi~~UULE ltCD (~ac~e 5 of 5}
~~FECTS OF R~DE~°E~OPMEN7 UPQN HOkJSIt~G (Contznued}
AGENCY ~~N'T'71 _MONZCA RTDF~V~LOF'ME1VT 11C,LNC'Y
NAM~ Of' PROJECT AREA (A) (B) (Cy (~) (E} (F) AGEiVCY TOTA~5
22. Numbe~° a~ a~cney assisted
units receiving subsidies
d~r~ng 1'iscal year just END~~
to make ~.hem affordable far;
Ver Low Income Flouse ol s -~- -o- -~~- ~ -t~-
Low Incame Households -~~- --~- -~?- -~-
Moderat~ Income FiouSe o ds -c.~- -t~- -o- -~'
Other Households -o- _o_ _t~_ -o-
23. Esti~ated numbet~ of ho~seho s
to he d~splaced c~uring
FY l36-E37
~ Ver ~ow Yncome Ilouseholds -~-- -o- -~~- ~~~'
~ Low Income Flousefi~olc#s -o- -o- -o- -~>-
Moderd~e Income F{auseholds -cl- -0- -0- -D-
Other No~seholds -o- -U= -o- -~~-
NCOh1E LtiV~L ~]ESCRIPTIOh~S FOR THE ~'URPOSES OF THIS REPORT
VERY LOW IHCON9E F3~USENQ~fl--sama as very law incom~
families and very low income persons. Qualify~ng
lirnit is equivalent to 50~ of the area med~a~
~ncome, ~~~uste~i far family size. (California
Administrative ~ode Section 692G)
NOT~: Please use the s~ace below or attach
tither do~umen~s to prav~tle any ather
in~ormation related ta the ayency's
housing }~rograms which you feel is
relevant, or necessary ~o comply with
1~ealth and Safety Code Section
33334.2(J). tSee copy attached).
~ LOW 1iVCOhSE ~lOU5Et~0~D--same as persons af 3ow
income, and law income far~ilies. Qua~ifying limit
is be~ween 50% and 80% of the area r~edian income
acijusted for family size.
• N~ODCR~ITE I NCOr~E FiOUSEHOLUS-Wpersans and f ami l i~s
with incames above that i'or low incorne households
but not exc~eding 12fl~ oF area med~an income,
aci,~usted for fami jy si ze.
- OTHER I NCOM~ 110USEIIO~i]S--persons and fami i i es wi t~
tncc~mes that exceed the qualify~nc~ limit for
~r}z;~~lc~rate i ncome hoiisehol ds.
I C ~/~~. ~'