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SR-120407-1E~~ City Council and ~~~Y of Redevelopment Agency Report Santa Monica Redevelopment Agency Meeting: December 4, 2007 Agenda Item: ~ -~ To: Mayor and City Council Chairperson and Redevelopment Agency From: Andy Agle, Director, Housing and Economic Development Department Subject: Annual Report for Fiscal Year 2006-2007 for the Redevelopment Agency of the City of Santa Monica Recommended Action Staff recommends that the: 1. City Council receive the Annual Report for Fiscal Year 2006-2007 for the Redevelopment Agency of the City of Santa Monica; and 2. Redevelopment Agency direct the Executive Director of the Redevelopment Agency to transmit the report to the Controller of the State of California for filing. Executive Summary The Annual Report of the Redevelopment Agency complies with California Health & Safety Code 33080.1 which requires the Redevelopment Agency to present an annual report to the City Council and file this report with the Controller of the State of California no later than December 31, 2007. The attached report includes the following components: 1) Annual Report Summary .which summarizes the Agency's programs and activities for Fiscal Year 2006-2007 (Attachment A); 2) An independent financial audit and report conducted in accordance with generally accepted auditing standards (Attachment B); 3) A fiscal statement that provides information on the outstanding indebtedness and the amount of tax increment revenue generated by the Agency in total and by each project area (Attachment C); and 1 4) A description of the Agency's activities including those affecting housing and displacement (Attachment D). Discussion The accounting firm of Mayer Hoffman and McCann P.C. completed an independent financial audit for the fiscal year from July 1, 2006 to June 30, 2007, in compliance with standards set out in Section 33080.1 of the California Health and Safety Code. Mayer Hoffman and McCann P.C. issued an unqualified audit report, which means the basic financial statements of fhe Agency present fairly, in all material aspects, the financial position of the Redevelopment Agency as of June 30, 2007. Additionally, Mayer Hoffman and McCann P.C. performed tests of the Agency's compliance with certain provisions of laws, regulations, contracts, and grants, the results of which disclosed no instances of noncompliance under government auditing standards. In addition to providing a copy of the independent financial audit from Mayer Hoffman and McCann P.C., the attached annual report for FY 2006-2007 includes a summary of Agency funded activities and projects, the Redevelopment Agency Financial Transactions Report to the State Controller's Office and the Housing Activity Report to the California Department of Housing and Community Development. Council is required to receive and review the annual report prior to its transmittal to the State Controller by December 31, 2007. Financial Impacts and Budget Actions There is no budget/fiscal impact resulting from the approval of the Redevelopment Agency's Annual Report of Fiscal Year 2006-2007. Prepared by: Tina Rodriguez, Redevelopment Administrator 2 Approved: Andy Agle, Director, Housing and Economic Development Department Forwarded to Council: ,~ , _O , % ~ ~/ f /~ ont Ewel( Ci anager Attachment A: Annual Report Summary Attachment B: Mayer Hoffman and McCann P.C. Independent Auditor's Report Attachment C: State Auditor Controller's Report of Financial Transactions Attachment D: State Housing and Community Development Department Annual Report of Housing Activity of Community Redevelopment Agencies 3 Attachment A ANNUAL REPORT SUMMARY FOR FISCAL YEAR 2006-2007 REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA I. INTRODUCTION As required by California Health & Safety Code Section 33080.1, the Redevelopment Agency must file an annual report with the California State Controller within six months of the end of the Agency's fiscal year. The annual report must contain: 1) An independently prepared financial audit report conducted in accordance with generally accepted auditing standards (Independent Auditor's Report); 2) A fiscal statement that provides information on the outstanding indebtedness of, and the tax increment revenue generated by, the agency and by each project area (State Controller's Report of Financial Transactions of Community Redevelopment Agencies and Statement of Indebtedness); 3) A specific description of the Agency's activities affecting housing and any displacements (Annual Report of Housing Activities of Community Redevelopment Agencies); and 4) Any other supplemental information that the Agency believes useful in explaining its programs and activities. This annual report for the Santa Monica Redevelopment Agency contains information required by state law and includes a review of the objectives and activities of the Redevelopment Agency in FY 2006-2007, and previews the Agency's objectives and work plan for FY 2007-2008. II. DESCRIPTION OF REDEVELOPMENT PROJECT AREAS On August 13, 1957, the City Council of the City of Santa Monica, established the Redevelopment Agency of the City of Santa Monica, pursuant to Redevelopment Law. -1- In May 1972, the City Council declared itself the Agency and assumed all the rights, powers, duties and privileges vested in a redevelopment agency. There are four redevelopment projects within the city: Ocean Park Redevelopment Project 1A Ocean Park Redevelopment Project 1 B • Downtown Redevelopment Project Earthquake Recovery Redevelopment Project Ocean Park Redevelopment Project 7A The City Council adopted the Redevelopment Plan for the Ocean Park Redevelopment Project 1A on June 30, 1960 and amended the Plan on November 14, 1967, primarily to change the permitted land uses in the project area. The project area is 25 acres bounded by Ocean Park Boulevard to the north, Neilson Way to the east, Ocean Park Project 1 B to the south and the State beach parking lots and the beach to the west. Phase one of Ocean Park Redevelopment Project (1a) was completed in 1980 and phase two was completed in 1987. The project contains two 17-story, 250 rental unit high-rise buildings known as Santa Monica Shores and is surrounded by the Sea Colony condominium project, which consists of 340 condominium units. Ocean View Park is a public park located in the center of the project area facing the ocean. Ocean Park Redevelopment Project 1 B The City Council adopted the Redevelopment Plan for the Ocean Park Redevelopment Project 1B on January 24, 1961, with subsequent amendments implemented on January 26, 1965, July 13, 1971, and again on September 12, 1972, principally to change the permitted land uses within the project area. The project area consists of 8 acres bounded by Ocean Redevelopment Project 1A to the north, Neilson Way to the east, the City limit to the south, and both the State beach parking lots and the beach itself to the west. The project was completed in 1983. Currently -the project contains two senior citizen residential apartment complexes, Neilson Villas and Barnard Park Villas, which contain 100 and 61 rental units -2- respectively. A former utility building within the project area was adapted into offices and art storage for the Eli Broad Trust Art Foundation. Downtown Redevelopment Project The City Council adopted the Redevelopment Plan for the Downtown Redevelopment Project on January 13, 1976. The Downtown Redevelopment Project encompasses 9.9 acres of property located in the downtown core of Santa Monica bounded by Broadway to the north, 4th Street to the east, Colorado Avenue to the south, and 2°d Street to the west. Completed in 1980, the project consists of Santa Monica Place; a retail center containing approximately 570,000 square feet of floor area, included two major department store anchors and 160 specialty retail shops/food uses, linked by a three level enclosed common area, which is owned and operated by the Macerich Company. The projecf includes two Agency-owned parking structures that provide a total of 1,968 parking spaces. Earthquake Recovery Redevelopment Project The City Council adopted the Redevelopment Plan for the Earthquake Recovery Project on June 21, 1994. The project is 2.89 square miles bounded to the east by Cloverfield Boulevard and 26th Street, to the west by Pacific Coast Highway/Beach Promenade, to the south- generally by Pico Boulevard, and to the north by Montana Avenue and includes the structures predominately damaged in the January 1994 Northridge earthquake. Approximately 90 percent of all red-tagged and 60 percent of all yellow- tagged buildings in the City were in the project area. To date the Earthquake Recovery Project has funded disaster prevention and mitigation, commercial revitalization, community revitalization and institutional projects. III. AGENCY ACTIVITIES FOR FISCAL YEAR 2006-2007 The Agency's activities for the last fiscal year, which implement the 2004 Implementation Plan objectives for Ocean Park 1A, Ocean Park 1B, Downtown and Earthquake Recovery Redevelopment Project Areas, are discussed below: -3- Non-Housing Activities: 415 Pacific Coast Highway. Phase two of the adaptive reuse of 415 PCH, was activated by City Council through approval of a design build contract with Charles Pankow Builders. The Agency committed $3,891,000 of redevelopment funds and adopted a resolution finding the use of redevelopment funds to be of benefit to the Earthquake Recovery Redevelopment Project Area and authorized the Executive Director to negotiate and execute an agreement between the City and the Agency to grant funds for the rehabilitation and adaptive reuse of 415 PCH. Disaster Prevention and Mitigation: Downtown Parking Program. On February 28, .2006, the City Council certified the Downtown Parking Program Environmental Impact Report (EIR) and approved a Statement of Overriding Considerations for seismic retrofitting of two nine-story parking structures; tearing-down and rebuilding three five-story parking structures; and adding up to two new parking structures in the Downtown area, with a total net increase of 1,712 parking spaces and approximately 59,000 square feet of ground- floor commercial space. The Council also approved the Downtown Parking Program and authorized staff to proceed with implementation of seismic retrofit of Structures #4 and #2; acquisition and design of new perimeter parking resources; and a design development process focused on the three structures to be demolished and rebuilt. o Parking Structure 4. The design work for seismic retrofit of Parking Structure 4, located at 1321 2"d St., was completed and includes design reconfigurations to enlarge the trash enclosure area to accommodate additional service vehicles, remodel of the restrooms to provide additional options for the public, and relocation of storage area to Parking Structure 2. West Valley Investment Group was selected to perform construction and work commenced on September 24, 2007, with anticipated completion in 2008. Agency assistance on this project is $5,486,208. -4- o Parking Structure 2. On June 26, 2007, City Council approved the award of the design contract for seismic retrofit design on Parking Structure 2 to KPFF Consulting Engineers. Structure 2 is located at 1235 Second Street, with 633 parking spaces, built in 1969, will be retrofitted following completion of Structure 4. The design work on Structure 2 is anticipated to commence in 2008. Agency provided funding totaling $489,500. o Fagade Improvements to Parking Structures 1-6.. On April 10, 2007, the City Council approved the design concepts prepared by Pugh + Scarpa to paint Downtown Parking Structure Nos. 1-6 and upgrade the facades of Parking Structure Nos. 2, 4 and 5 as well as authorized a contract amendment with Pugh +Scarpa to include artist C?iff Garten's preparation of technical specifications for his artwork for Parking Structure Nos. 2, 4 and 5. In addition, Council authorized additional design services to include modification to the existing 'real-time' parking availability monument signs to make them compatible with the proposed parking structure painting and fapade program, upgrade of exterior lighting, and enhancement of existing landscaped areas. The design program was reviewed and approved by the Architectural Review Board on January 10, 2007. o Fagade Improvements to Parking Structures 7 & 8. On June 26, 2007, drawing on the opportunity to coordinate work efforts and improvements with the other Downtown Parking structures and the proposed remodel of Santa Monica Place, Council authorized a second amendment with Pugh + Scarpa to provide design concepts for fagade, painting and public art improvements for Parking Structures 7 and 8, adjacent to Santa Monica Place. -5- o Land Acquisitions. The City has been pursuing the acquisition of property within the area bounded by 4th Street, 5th Court, Wilshire Boulevard and Olympic Boulevards for future public projects that may include light rail transit, public parking, affordable housing or other public supportive commercial uses. Acquisitions included: 430 Arizona, 1324 5th Street, 1320 5th Street, 1321 5th Street, and 1338-42 5th Street, which will be completed by FY 07-08. Palisades Bluff Stabilization. Efforts to retrofit and stabilize the Palisades Bluff commenced with slope erosion inspections and environmental review. The City prepared an Initial Study and Mitigated Negative Declaration (MND) for the project in early 2007 and commenced a 30-day review period on February 5, 2007, with Council consideration of the Initial Study and' MND occurring in FY 07-08. Commercial Revitalization: Santa Monica Place. In accordance with the objectives for this project, staff continued to work with the Macerich Company on the remodel of Santa Monica Place by assisting with the interdepartmental approval process and submission requirements of the Agency, Planning Commission, and Architectural Review Board. On March 6, 2007, following extensive input from City staff during the pre-submittal phase, Macerich submitted plans to the Redevelopment Agency and the City for-the adaptive re-use of Santa Monica Place. In conformance with requirements of the Downtown Redevelopment Plan, the Agency completed a review of the project for consistency with the Downtown Redevelopment Plan, including obtaining an appraisal for the fair market value on relinquishment of the easement on Parking Structure 7. The City also completed its review for the Administrative Permit application. On June 20, 2007, Macerich presented the project before the Planning Commission. The environmental review, Initial Study, for the project was prepared leading to Agency and City consideration of the project on September 11, 2007. -6- Institutional Revitalization: Santa Monica -Liberal Arts Building. In FY 2005/06, the Agency committed redevelopment funds to finance construction of a replacement building for the Liberal Arts program at Santa Monica College as an advance of pass through funds owed SMC. Construction of the replacement building was completed in June 2007, providing students and faculty athree-level, 59,887 square foot educational facility, with two subterranean levels of parking, one of which will contain 35 spaces for faculty. The new facility replaces the original Liberal Arts Building which was damaged beyond repair during the 1994 Northridge Earthquake. Five Year Implementation Plan -Mid-Term Report. On April 24, 2007, the Agency fulfilled California Redevelopment Law Section 33490 requirements by holding a public hearing and review on the mid-term report for its FY 2004-05 through FY 2006-07 Five Year Implementation Plan. In addition to reviewing and highlighting the Agency's programs, activities, accomplishments, expenditures and commitments for each Project Area, the mid-term report provided an opportunity to consider longer-term planning and prioritization of the Agency's resources for the remainder of the implementation period, FY 2007-08 and FY 2008-09, and future years. Recommendations on funding priorities for the remainder of the Implementation Plan period were addressed in order to plan for long-term capital needs. Affordable Housing Activities: The Agency continued efforts to increase, preserve, and improve the supply of affordable housing in Santa Monica, as set forth in the adopted housing programs of the 2004 Five-Year Implementation Plan, by carrying out the following activities: The Civic Center Village. On November 1, 2006, an Exclusive Negotiation Agreement ("ENA") between the Agency and the Related Companies of California (Related) regarding the Civic Center Village was executed. The Civic Center Village will include up to 325 units of housing (of which 160 units will be affordable), public open space and retail space. During FY 2006-07, work efforts focused on the -7- community input process for the conceptual design of the Civic Center Village. The conceptual design was presented to the Housing Commission, Recreation and Parks Commission, and Planning Commission for input. • 1458 14th St. In January 2007, the Agency provided funding to acquire this property and the developer was awarded federal low income tax credits in June 2007. The project is new construction consisting of twenty 1-bedroom apartment units affordable to seniors at low income and very low income. The. Agency anticipates providing some additional funding to the project at the point it begins construction, which is anticipated for November 2007. 1424 Broadway (1512 15th St). Completed in early 2007, this project is a new construction housing development providing twenty-five two bedroom and sixteen three-bedroom units for households at very-low and low-income. The Agency assisted this project by providing $2,900,000 in redevelopment funds in FY 02-03 for acquisition of property. 2411-23 Centinela Ave. In July 2006, loan and conditional grant documents were executed for the construction and permanent financing of thirty-six rental units affordable to very-low and low income households. Construction efforts commenced in September 2006 beginning with demolition of existing structures, excavation for subterranean parking, installation of soldier piles (concrete beams) and shoring. The project is 56% complete with an anticipated completion in Spring 2008. The development will consist of six buildings constructed on 35,830 square feet of land located on Centinela Avenue just south of Pico Boulevard. Redevelopment funds were leveraged with the State of California's Multifamily Housing Program (MHP) and 4% credit/tax exempt bond funding. 1751 Cloverfield Boulevard. Ocean Park Community Center ("OPCC") opened its new CloverField Services Center in November 2006, providing housing to 55 homeless men and women. The Agency assisted this adaptive re-use project by providing funding to OPCC to acquire the property in FY 2003-04; OPCC conveyed -8- title to the property to the Agency and upon conveyance, the Agency leased the property to OPCC for a term of 55 years. In exchange for providing a 55-year lease, OPCC has executed a covenant to use the property solely for affordable housing. • 2601 Santa Monica Blvd. (1349 26th St). This new construction project consisting of 44-units of rental family housing over 1 YZ levels of subterranean parking was completed in June 2007 and fully leased in August 2007, providing fifteen three- bedroom units and twenty-nine two-bedroom units, affordable to households of very- low and low-income. Agency assistance included funding acquisition in FY 02-03 and providing permanent construction loan. • Acquisition and Rehabilitation 0 1944 20th Street. Rehabilitation efforts commenced in early 2007 consisting of exterior and interior improvements, such as a new roof, light fixtures, railings, windows, heaters, flooring, showers, painting and landscape improvements. This project is an existing apartment containing eight three- bedroom units suitable for large family households affordable to very-low and low-income households. Funding for the acquisition and rehabilitation of this project was authorized by Agency in FY 05-06. • Senior Homeless Prevention and Rental Assistance Program. During the reporting period, 11 senior households participated in this program, receiving RDA senior rental assistance each month. In addition, 20 homeless seniors received housing vouchers. Low/Moderate Income Housing Redevelopment Funds totaling $1.34 million was budgeted to fund this program which° is a component of the City's homeless continuum of care. Additionally, several affordable housing projects assisted with Agency funds, in previous fiscal years, are currently under construction or in pre-development. The status of these projects as well as the anticipated completion dates are summarized in the FY 2007- 2008 Affordable Housing Objectives and Activities. -9- The Agency will continue to secure as many low and moderate housing opportunities within the city as feasible with funding assistance for land acquisition, new construction, and acquisition and rehabilitation of existing properties. IV. AGENCY OBJECTIVES AND ACTIVITIES FOR FISCAL YEAR 2007-2008 Non-Housing Objectives and Activities: Disaster Prevention and Mitigation: Downtown Task Force Parking Program. Continue to implement the Downtown Parking Task Force Strategic Plan by completing seismic retrofit work on Parking Structure 4 and design work on the seismic retrofit work on Parking Structure 2; initiate the planning design process for the first tear down and rebuild of parking structures 1, 3, or 6. • Downtown Parking Program Financing Project. Issue a request for proposal (RFP) to update the work and financing plan associated with the Downtown Public Parking Program created by the Downtown Parking Task Force. Palisades Bluff Stabilization. Prepare Mitigated Negative Declaration (MND) for Council review and approval in August 2007 and obtain authorization for the development of bidding documents to implement project as recommended in the geotechnical study; implement efforts to obtain all applicable permits including Coastal Commission permit, National Pollutant Discharge Elimination permit, and Caltrans encroachment permit; develop bidding documents, advertise, and award contract to design and construct improvements; and commence design phase. Commercial Revitalization: -10- 2"a and 4th Streets Pedestrian and Streetscape Improvement Project. Execute a cooperation agreement between the Agency and City to provide gap funding to help implement project improvements, identified as the third phase in the Downtown Urban Design Plan, including the installation of Ginkgo trees, removal of Ficus trees, installation of new pedestrian/street light fixtures, upgrading the electrical service, irrigation and structured soil, enlargement of the Ficus tree-wells, addition of decorative uplighting, and enhancement of the existing six mid-block crosswalks by installing curb extensions and installation of new accessible curb cuts 20th Street and Cloverfield Streetscape Improvement Program. Finalize scope and conceptual designs for this project, which includes improvements to streets, crosswalk, and traffic management to achieve arterial traffic calming and enhance safety for residents and businesses. Prepare project for Council for consideration in 2008. Fagade Improvements to Parking Structures 1-6. Initiate the pilot painting for Parking Structure 6 and commence monitoring efforts to evaluate maintenance issues: Complete final plans for parking structures 1 through 6 by June 2008. Santa Monica Place Remodel. Continue to work with Macerich Company on the remodel of Santa Monica Place by coordinating and phasing construction efforts of Parking Structure 7 & 8 Facade Improvement and Parking Attendant Program projects; assist Macerich with its remaining presentation before Architectural Review Board (ARB) Arts Commission and State Coastal Commission; complete all modifications to existing agreements between the Agency, City and Macerich. Parking Structure 7 & 8 Facade Improvement and Attendant Parking Program. Obtain Agency approval of conceptual designs to upgrade the fagades of the two Agency-owned structures and coordinate efforts to convert the parking facilities to attendant parking; submit the conceptual designs for Bayside Board review; and -11- prepare project for review by Council and Architectural Review Board in January 2008. Affordable Housing Objectives and Activities: • The Civic Center Village. In August 2007, obtain Agency and the City Council approval for the conceptual design of the Civic Center Village and authorization for staff to begin negotiating a Development Agreement with Related. Staff will continue working with Related during the pre-submittal process; formal Development Agreement application with schematic designs is anticipated for mid-year; and consideration of the Development Agreement by the Planning Commission and the City Council is anticipated for early 2008, with consideration of the Disposition and Development Agreement by the Agency to follow. • 1548 5th Street. Complete permanent loan closing in 2008 and finalize predevelopment phase. The Agency provided assistance in FY 2004-05 for acquisition and predevelopment costs, this new construction project will provide approximately 46 affordable single room occupancy (SRO) for mentally disabled and homeless persons upon completion of construction. Anticipated completion: tinter 2009 • 2018 19th Street. Finalize predevelopment work including loan documentation, department of Real Estate documentation (CC&R's and HOA budget), and income qualification of potential program participants; and commence construction in 2008 to build four three bedroom and one two bedroom townhome condominium units for low-income households under a community land trust form of ownership. Anticipated completion: Summer 2009 • 1342 Berkeley. Assist developer with completing predevelopment phase, obtaining all entitlements and permanent loan. This development is in the preliminary design phase therefore, the actual design and/or massing have not been determined yet. However, the development will consist of approximately 7-14 units. Currently, -12- development is not projected for construction start until 3021-3031 Santa Monica Boulevard is completed. 1342 Berkeley is an adjacent smaller lot. • 2411 - 2423 Centinela Avenue (The Tahiti). Continue to monitor construction work to ensure completion by Spring 2008. This project will provide thirty-six rental units, affordable to very-low and low income households, in six buildings constructed on 35,830 square feet of land located on Centinela Avenue just south of Pico Boulevard. Anticipated completion: Spring 2008 • 1942-54 High Place (High Place West). Assist developer with predevelopment phase, complete preliminary design work and coordination of an EIR with the companion ownership project, High Place East, and obtain permanent funding, with construction commencing in late 2008. Upon completion of this project, approximately fifty affordable rental units will be available to low income households. Anticipated completion: Winter 2009 • 1943, 1945, 1955 and 1959 High Place (High Place East): Assist developer with predevelopment phase, complete preliminary design work and coordination of an EIR with the companion rental project, High Place West, and obtain permanent funding, with construction commencing in late 2008. Upon completion of this development, approximately forty-five two and three bedroom affordable ownership units will be targeted to moderate income households. Anticipated completion: Winter 2009 • 1930 Stewart (Mountain View Mobilehome Park). Complete construction bids and selection of contractor by early 2008 and commence construction by late 2008 to implement partial reconfiguration of the existing 105 unit mobile home park, establish lot lines for individual spaces as part of a repair/replacement plan for on- site utilities, and install eight mobile home units. Anticipated completion: Winter 2008 -13- Acquisition and Rehabilitation: 0 2211 4th St. Commence exterior and interior rehabilitation work and complete project by Spring 2008. This project contains twenty-two (2 two-bedroom and 20 one-bedroom) units restricted to low-income households. Anticipated completion: Spring 2008 0 2900 4th St. Commence exterior and interior rehabilitation work and complete project by Spring 2008. This project contains nineteen (2 three-bedroom, 9 two-bedroom, and 8 one-bedroom) units affordable to low-income households. Anticipated completion: Spring 2008 0 1944 20th St. Complete exterior rehabilitation work and commence interior work including asbestos removal, new gas and electric heaters, flooring, plumbing and light fixtures, new bathroom showers, and painting. Following completion of rehabilitation, this project will provide eight three-bedroom units suitable for large family households at very-low and low-income levels. Anticipated completion: Winter 2007 0 2624 Santa Monica Blvd. Obtain approval to fund the acquisition and rehabilitation of this existing eight-unit motel for use as single-room occupancy housing for very low income young adults with mental illness. Commence rehabilitation work in early 2008. Anticipated completion: Winter 2008 • 175 Ocean Park Boulevard. Fulfill lease payment obligations to maintain twenty- two housing units for very low-income senior and family households. The lease payment made by the Agency is on behalf of the 175 Ocean Park Boulevard public housing development operated by the County of Los Angeles. This has been an ongoing activity of the Redevelopment Agency for many years. Displacements. The Agency does not anticipate participating in activities which will result in the relocation and/or displacement of households in FY 2007-2008. -14- V. PROJECT AREA HOUSING FUND REVENUES AND OTHER SOURCES During the reporting period the Agency contributed $11,629,988 into its Low & Moderate Housing Fund, reflecting 20 percent of the tax increment revenues received In FY 2006- 2007. These funds will be used in support of low and moderate income housing in future years. The following represents the breakdown of these contributions: Ocean Park Redevelopment Projects 1A & 16 In FY 2006-2007 the Ocean Park 1A and 1B Redevelopment Projects received a $3,641,921 in tax increment revenue of which $728,385 is housing set-aside revenues. These funds were expended on debt service, associated administrative costs and deposited in the affordable housing fund. Downtown Redevelopment Project In FY 2006-2007, the Downtown Redevelopment Project received $512,572 in tax increment revenue of which $102,514 is housing set-aside revenues. These funds were expended on debt service, associated administrative costs and deposited into the affordable housing fund. AB1290 payments of $7,124 will be distributed to other taxing entities including the City of Santa Monica from tax increment revenues. Earthquake Recovery Redevelopment Project In FY 2006-2007, the Earthquake Recovery Redevelopment Project received $53,995,445 in tax increment revenue of which $10,799,089 ig housing set-aside revenues. AB1290 payments of $11,950,152 will be distributed to other taxing entities including the City of Santa Monica from tax increment revenues. -15- Attachment B Mayer Hoffman and McCann P.C. Independent Auditor's Report Fiscal Year 2006-2007 THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA, CALIFORNIA (A Component Unit of the City of Santa Monica, California) Basic Financial Statements Year Ended June 30, 2007 (With Independent Auditors' Reports Thereon) THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA, CALIFORNIA BASIC FINANCIAL STATEMENTS YEAR ENDED JUNE 30, 2007 TABLE OF CONTENTS FINANCIAL SECTION Independent Auditors' Report ............................................................................................................ 1 Management's Discussion and Analysis (Required Supplementary Information) ............................ 2 Basic Financial Statements: Agency-wide Financial Statements: Statement of Net Assets ...................................................................................................... . 9 Statement of Activities ......................................................................................................... . 10 Fund Financial Statements: Balance Sheet- Governmental Funds ................................................................................. . 11 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Assets ...........................................................................:................................................. . 12 Statement of Revenues, Expenditures, and Changes in Fund Balances -Governmental Funds ........:.................................................................................................................... . 13 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances to the Statement of Activities ............................................................ . 14 Notes to Basic Financial Statements: Note 1 -Summary of Significant Accounting Policies ........................................... . 15 Note 2 -Cash and Investments ....................................................................... . 21 Note 3 -Notes Receivable ...........:..................................................:.............. . 24 Note 4 -Capitalized Lease ............................................................................ . 25 Note 5 -Capital Assets ........................................................................................ . 26 Note 6 -Other Liabilities ............................................................................ . 26 Note 7 -Long-Term Debt .......................................................................................... . 27 Note 8 - Interfixnd Transactions .......................................................................................... . 30 COMPLIANCE SECTION Independent Auditors' Report on Compliance and Other Matters and on Internal Control over Financial Reporting Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards ................................................................................................. 31 Mayer Floffman McCann P.C. An Independent CPA Firm Conrad Government Services Aivision 2301 Dupont Drive, Suite 200 Irvine, California 92612 949-4742020 ph 949-263-5520 fx www.mhm-pc.com Board of Directors Redevelopment Agency of the CiTy of Santa Monica, California Independent Auditors' Report We have audited the accompanying basic financial statements of the governmental activities and each major fund of the Redevelopment Agency of the City of Santa Monica, California ("Agency"), a component unit of the City of Santa Monica, Califomia, as of and for the year ended June 30, 2007, which collectively comprise the Agency's basic financial statements, as listed in the table of contents. These fmancial statements are the responsibility of the Agency's management. Our responsibility is to express opinions on these basic financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinions. In our opinion, the basic fmancial statements referred to above present fairly, in all material respects, the respective fmancial position of the governmental activities and each major fund of the Redevelopment Agency of the City of Santa Monica, Califomia as of June 30, 2007 and the respective changes in financial position for the year then ended in conformity with accounting principles generally accepted in the United States of America. The information identified in the accompanying table of contents as Management's Discussion and Analysis is not a required part of the basic financial statements, but is supplementary information required by the Governmental Accounting Standards Boazd. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentation of the required supplementary information. However, we did not audit the information and express no opinion on it. In accordance with Government Auditing Standards, we have also issued our report dated November 16, 2007 on our consideration of the Agency's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts and grants. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be read in conjunction with this report in considering the results of our audit. y / /+rct¢n~ f{ ~~~m a~ /1? e C / ~ ~ Leine, California November 16, 2007 REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Management's Discussion and Analysis Year Ended June 30, 2007 As management of the Redevelopment Agency of the City of Santa Monica, (the "Agency"), we offer readers of the Agency's report this narrative overview and analysis of the fmancial activities of the Agency for the fiscal year ended June 30, 2007. We encourage readers to consider the information presented here in conjunction with additional information that we have furnished in the Agency's basic financial statements, which immediately follow this section. Financial Highlights The total assets of the Agency exceeded its liabilities as of June 30, 2007 ("current fiscal year") by $125.7 million. Of this amount, $24.3 million are capital assets, net of related debt, $29.9 million is restricted for use as specified by entities outside the agency, and $71.5 million is unrestricted for use in accordance with fmance-related requirements reflected in the Agency's fund structure. The Agency's net assets increased by $28.0 million during the fiscal year. At the end of the fiscal yeaz, the Agency's governmental funds reported combined ending fund balances of $120.0 million, an increase of $25.0 million from the prior year. The Agency's investment in capital assets increased by $1.9 million. Please see further detail of capital assets on page 7. The Agency's total debt decreased by $3.4 million during the current fiscal year. Please see further detail of long-term debt on page 7. Overview of the Basic Financial Statements This discussion and analysis is intended to serve as an introduction to the Agency's basic fmancial statements. The Agency's basic fmancial statements consist of three components: 1) Agency-wide financial statements 2) Fund fmancial statements 3) Notes to basic fmancial statements. Agency-Wide Financial Statements The agency-wide financial statements are designed to provide readers with a broad overview of the Agency's finances in a manner similar to the accounting used by most private-sector business. The statement of net assets presents all of the Agency's assets and liabilities, with the difference reported as net assets. Over time, increases or decreases in net assets may serve as a useful indicator to determine whether the financial position of the Agency is improving or deteriorating. The statement of activities presents information showing how the Agency's net assets changed during the most recent fiscal year. Functional activities are highlighted in this statement, whereby direct and indirect functional costs are shown net of related program revenue. This statement shows the extent to which the various functions depend on general taxes and non-program revenues for support. REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Management's Discussion and Analysis, (continued) Both of the agency-wide financial statements highlight funcfions of the Agency that are principally supported by property tax increment and bond proceeds. The governmental activifies of the Agency include redevelopment activities and interest on long-term debt. Redevelopment activities, in general,. include providing needed public improvements, assisting with development and rehabilitation of existing properties, and providing low and moderate-income housing to eliminate or alleviate blighting conditions. The agency-wide fmancial statements can be found on pages 9 and 10 of this report. Fund Financial Statements Fund financial statements are designed to report information about related accounts, which are groupings (funds), used to maintain control over resources that have been segregated for specific activifies or objectives. The Agency, like state and local governments, uses fund accounting to ensure and demonstrate compliance with finance related-legal requirements. All funds of the Agency are categorized as governmental funds. Government funds are used to account for essentially the same functions reported as governmental activities in the agency-wide fmancial statements. However, unlike the agency-wide financial statements, governmental fund fmancial statements focus on near-term inflows and outflows of spendable resources as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in determining what financial resources are available to finance the Agency's redevelopment programs. Because the focus of governmental funds is narrower than that of the agency-wide fmancial statements, it is useful to compare the information presented for governmental funds with similar informafion presented for governmental activities in the agency-wide financial statements. By doing so, readers may better understand the long-term impact of the agency's near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide reconciliation to the agency-wide financial statements on pages 12 and 14 to facilitate this comparison between governmental funds and governmental activities. The Agency maintains seven individual governmental funds. Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and changes in fund balances, for each of these funds. The governmental funds fmancial statements can be found on pages 11 and 13 of this report Notes to Basic Financial Statements The notes provide additional information that is essential to a full understanding of the data provided in the agency-wide and fund fmancial statements. The notes to the basic fmancial statements can be found on pages 15 - 30 of this report. REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Management's Discussion and Analysis, (continued) Agency-Wide Financial Analysis Our agency-wide analysis focuses on the net assets and changes in net assets for the Agency's governmental acfivities. A summary of the Agency's net assets are as follows: Agency Net Assets -Governmental Activities (in millions) Current and other assets Capital assets, net Total assets Current and other liabilities Long-term liabilities Total liabilities Net assets Invested in capital assets, net of related debt Restricted Unrestricted Total net assets 2007 2006 Change $ 131.0 106.1 24.9 108.3 106.4 1.9 239.3 212.5 26.8 40.8 38.6 2.2 72.8 76.2 (3.4) 113.6 114.8 (1.2) 24.3 17.3 7.0 29.9 16.3 13.6 71.5 64.1 7.4 $ 125.7 97.7 28.0 As noted earlier, net assets may serve over time as a useful indicator of the Agency's fmancial position. Tn the case of the Agency, assets exceeded liabilities by $125.7 million at the close of the most recent fiscal yeaz. By far the lazgest portion of the Agency's liabilities reflects its bonded indebtedness, totaling $76.4 million. The Agency, operating under California Redevelopment Law, must maintain debt in excess of its available assets to legally receive property tax increment revenue. Capital assets increased by $1.9 million primarily due to the continued seismic retrofitting acfivifies of parking structures number four and five and purchase deposits of $1.2 rnillion on land located at 1338 and 1632 5`s Street. The decrease in current and long-term liabilities was due to debt service payments. 4 REDEVELOPMENT AGENCY OF THE CPI'Y OF SANTA MONICA Management's Discussion and Analysis, (continued) Governmental Activities Governmental activities increased the Agency's net assets by $28.0 million. Key elements of this increase are as follows: Agency Changes in Net Assets -Governmental Activities (in millions) 2007 2006 Change Revenues Program revenues Charges for services $ 0.3 0.3 0.0 General revenues Property tax increment 46.2 42.7 3.5 Investment income 4.6 1.7 2.9 Miscellaneous 0.3 0.1 0.2 Total revenues 51.4 44.8 6.6 Expenses Housing and community development 18.6 10.2 8.4 Interest on long-term debt 4.8 4.2 0.6 Total expenses 23.4 14.4 9.0 Increase in net assets 28.0 30.4 (2.4) Net assets -beginning of year -97.7 67.3 30.4 Net assets -end of year $ 125.7 97.7 28.0 Property tax increment revenues net of passthroughs of $46.2 million are the Agency's major source of revenue. This revenue increased by $3.6 million or 8.4% from the prior year due to property tax increment revenues from an increase in assessed values. This increase was partially offset by the effect of the reduced assessment of Santa Monica Place. Investment earnings of $4.6 million were received from investments of available funds, which is greater than last yeaz due to improved returns on investments and greater funds available to invest. Redevelopment activities expenses of $18.6 million shown on the statement of activities consists of: Redevelopment and public improvement project operating costs $ 3.7 Redevelopment and public improvement project costs 4.9 Low and moderate housing projects 8.9 Depreciation 1.1 Total redevelopment activities expenses $ 18.6 5 REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Management's Discussion and Analysis, (continued) Redevelopment and public improvement project operating costs of $3.7 million are comprised of operating expenses such as administrative fees charged by the County for collection and disbursement of property tax increment, operafing transfers to the General Fund, payment to the General Fund in accordance with a reimbursement agreement in conjunction with the Downtown Redevelopment Project, lease payment for the Ocean Park Boulevard Housing Project and administrative indirect costs. Redevelopment and public improvement costs of $4.9 million primarily represents payments of $3.7 million to the Parking Authority of the City of Santa Monica under asale/purchase agreement for six parking structures. See note 6. Low and moderate housing project expenditures of $8.9 million include development costs, monitoring of construction activities, and administrative costs. Financial Analysis of the Agency's Funds As noted earlier, the Agency uses fund accounting to ensure and demonstrate compliance with finance- relatedlegal requirements. Governmental Funds The focus of the Agency's governmental funds is to provide information on neaz-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the Agency's fmancing requirements. In particular, unreserved fund balance may serve as a useful measure of a government's net resources available for spending at the end of the fiscal year. As of June 30, 2007, the Agency's governmental funds reported total ending fund balances of $119.9 million, which is an increase of $24.9 million from the prior yeaz. The fund balance of $87.3 million is reserved to indicate that it is not available for new spending. It is comprised of $56.8 million for continuing capital projects, $7.2 million for debt service and $19.5 million for notes receivable. The remainder of the fund balance, $36.5 million, is unreserved, undesignated. The key element of the $24.9 million increase in fund balance from the prior year was primarily due to the $5.2 million increase in the Earthquake Recovery Project Funds due to. increased property tax increment revenues. Major Funds The Downtown Project Low/Mod Housing fund balance increased by $0.1 million primarily due to decreased housing and community development expenditures. The Downtown Project fund balance decreased $0.7 million primarily due to decreased property tax increment revenues due to the reduced assessment of Santa Monica Place and increased housing and community expenditures. The Earthquake Recovery Project Low/Mod Housing fund balance increased $1.9 million primarily due to increased property tax increment and increased investment income offset partially by increased project expenditures. The Earthquake Recovery Project fund balance increased $21.9 million due to an increase in property tax increment of $5.2 million, increased investment income partially offset by increased project expenses. REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Management's Discussion and Analysis, (continued) The Ocean Pazk Project Low/Mod Housing fund balance increased $0.1 million due to higher property tax increment revenues and investment income partially offset by higher project expenditures. The Ocean Pazk Project fund balance increased $1.4 million due to increased tax increment revenue and investment income. The Debt Service fund balance increased by $0.2 million primarily due to interest income and transfers from other funds. Capital Asset and Debt Administrafion Capital Assets The Agency's investment in capital assets for its governmental activities as of June 30, 2007 amounts to $108.3 million (net of accumulated depreciation). This investment in capital assets includes parking structures, buildings, land, and equipment. This investment is detailed below: Agency Capital Assets -Governmental Activities (in millions) 2007 2006 Land $ 69.5 69.5 Buildings, parking structures, and improvements 40.5 38.9 Improvements other than buildings 10.8 10.8 Machinery and equipment 0.1 0.1 Construction in progress 3.7 2.3 Subtotal 124.6 121.6 Less accumulated depreciation (16.3) (15.2) Total $ 108.3 106.4 Significant capital projects included the continued expenditures for seismic retrofit design of parking structure four and seismic retrofitting of parking structure five, expenditures at the 415 Pacific Coast Highway Project and purchase deposits on properties located at 1338 and 1632 5`s Street. Long-Term Debt At the end of the current fiscal year, the Agency had total bonded debt of $76.4 million. The bonds are secured solely by specified revenue sources. The Agency's total debt decreased by $3.1 million or 2.9% during the current fiscal yeaz. The decrease was primarily due to scheduled debt service payments on the Downtown Redevelopment Project, Earthquake Recovery Project and Ocean Park Redevelopment Project outstanding obligations. REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Management's Discussion and Analysis, (continued) Time limitations on incurring debt are as follows: Project area Time limitation to incur debt Ocean Park lA January 1, 2004 Ocean Park 1B January 1, 2004 Downtown None Earthquake Recovery June 21, 2014 The Agency does not have an overall credit rating; however, the Agency has received bond ratings on all of its outstanding bond issues as follows: Downtown Redevelopment Refunding Project Lease Revenue Bonds, "AAA" and "Aaa;" Ocean Park Redevelopment Project Tax Allocation Bonds, "BBB+," "Baal" and "A;" and Earthquake Recovery Redevelopment Refunding Project Tax Allocation Bonds, "AAA", "AAA" and "Aaa." Additional information on outstanding long-term liabilities may be found in note 7 of the notes to basic financial statements. Economic Factors and Next Year's Budget The assessed value of property is esfimated to rise in the Downtown Redevelopment Project Area as a result of standard minimum increases; in the Earthquake Redevelopment Project area due to sales of property and commercial development; and in the Ocean Park Project area as a result of standard minimum increases and sales of properties. Request for Information This financial report is designed to provide a general overview of the Agency's finances for all those with an interest in the Agency's finances. Questions concerning any of the information provided in this report. or request for additional financial information should be addressed to the Santa Monica Redevelopment Agency, 1717 4`b Street, Suite 250, Santa Monica, California 90401 or (310) 458-8281. Additional financial data may also be found on the City of Santa Monica's website (wwwsanta-monica.org). THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Statement of Net Assets June 30, 2007 Assets Cash and investments (note 2) $ 91,194,248 Cash and investments with fiscal agents (note 2) 7,832,229 Interest receivable 706,137 Due from Santa Monica College 4,039,753 Property tax increment receivable 3,891,131 Unamortized bond issuance costs, net 1,683,883 Notes receivable, net (note 3) 19,469,154 Capitalized lease receivable (note 4) 2,200,000 Capital assets, not being depreciated (note 5): Land 69,499,677 Construction in progress 3,792,883 Capital assets, being depreciated net of accumulated depreciation (note 5): Buildings 32,886,959 Improvements other than buildings 2,145,148 Machinery and equipment 100 Total assets 239,341,302 Liabilifies Accounts payable and other liabilities 1,430,604 Accrued interest payable on bonds 1,862,372 Due to other agencies 5,763,438 Noncurrent liabilities (note 7): Due within one yeaz 31,791,021 Due in more than one yeaz 72,758,321 Total liabilities 113,605,756 Net assets Invested in capital assets, net of related debt 24,253,905 Restricted: Low- and moderate-income housing 22,733,197 Debt Service 7,188,018 Unrestricted 71,560,426 Total net assets $ 125,735,546 See accompanying notes to basic financial statements. THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Statement of Activities Yeaz Ended June 30, 2007 Functions/programs: Governmental activities: Housing and community development Interest an long-term debt Total govermnental activities General revenues: Property tax increment Investment income Miscellaneous Total general revenues Change in net assets Net assets -beginning of year Net assets -end of year See accompanying notes to basic financial statements. Net (expense) revenue Program Revenues and changes Charges Operafing Grants Capital Grants in net assets Ezpenses for Services and Contributons and Contributions Total $ 18,565,389 271,965 (18,293,424) 4,822,713 (4,822,713) 23,388,102 271,965 (23,116,137) 46,213,543 4,637,399 251,961 51,102,903 27,986,766 97,748,780 $ 125,735,546 1~ F L E I ~ L ti C m Prr1^40 N 4m0 N m~Om O N ^ K N r•1 vl rl vl O NN^r^^O b O M O ~OVO o ^ O^r10 ~O ~O _y QN~"Q~~O~O N OC10 el' mSCr M N WEr PW~O ~QN m VrN CPl ~RnV O~ (~~1 r C[~1 OWN rNN T ro:N~c u N E i"` i G\ N ^ O m r N N ~ ~ a NOS Y W 6w bV i t ~t m ONt_ I _r I N I I r I.t;^v+ ~ J 'L O d m~ r r p O h r v^'o e ~t r m ~v^i r ... ^ V i m vm ~o ~ ~>~ S N n Nr•1~ L` r N ~1 a a r vo > boo r Y i~B ^ IVhMb I N 1~1~ S ~OrC (~ N w Si O. r^ O C ~ N ~D t~1 V a u O P Vi Ur N r " r0~0~ l: N W~aQI r RN N N b d0'~ r C G~ S ~O rl O N O W O < N b IN rNO b Oro I IPP ~ b ~ O O ~ ~ O O b~0 ~^ b S d N t ~) O O r O O S> L .-i N ^ N N ^ N ova A v a ~ rm~ m ° h ° ° e Y 's `Ew oo o vmm I ono I a r I I I I ~ o I ~om^ v r r + e° °N ~ oC ~ e ~ r nP~°o h r .; ~ ~ O ° 'a ~ ""^ $ ire < rn o lcml m of I o Iwvl m m O N n ~ J s> a d~'w p 6 ^ `o cr C ^.~ rN h C C re NM h p p v~~3o ~ o N rvo aa~wsx ^ N rz C m N r r m O 9 ^ I„ I MN 1 V I I I I I rv~ I a C O ddkk~ O rN O NO GG N ^ N N P P p L ; O m .~ O~ .i V i M Q a~ ~ a a v= .; 5 t o I l l l l o I I I I o l l l o Po da ~ ~_ " s v ~ r r r r C~ » » u~ a yo'. 5.0 ~ W ~ a v 6 y C ~ ~ O O ~ °.~ w 'O ~ a ~ a '" d~ w' 2 ~.m ~ ~ A h ~ vc h Q ~ Uu ~ ae w ~ vv m.°3 y i' Ecv~~ .°'.~ ~ mm~^m uoo~ m. EE~c.5mm E+ r7 o,v~ F dw°w°w°d F F ~~°'m Kea oa aaa~ ~w w E~`Ei:"' dust ~dvzy ~ N ~wy`vyoon ~6q0 ~f4 fL fL 'J UU$ga`2U „] w 5 c E v U y s 0 c c E 0 y 11 THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Reconciliation of the Balance Sheet of Govemmental Funds to the Statement of Net Assets June 3Q, 2007 Total fund balances-govemmental funds $ 119,938,610 Amounts reported for governmental actvities in the statement of ne[ assets aze different because: Capital assets used in governmental activities that aze not spendable current financial resources and, therefore, aze not reported in the balance sheet of govennnental funds. 124,637,538 Accumulated depreciation (16,312,771) Capitalized lease receivables aze not available to pay for current period expenditures and, therefore, are deferred on the modified accrual basis of accounting. .2,200,000 Bond issuance costs aze expended in governmental funds when paid and aze capitalized and amortized over the life of the corresponding bonds for purposes of the statement of net assets. Deferred chazges net of accumulated amortization 1,683,883 Long-term liabilities are not due and payable in the current period and, therefore; aze not reported in the balance sheet of govemmental funds: Tax allocation bonds, net $ (74,205,643) Revenue bonds, net (2,177,679) Advances from the City of Santa Monica (28,166,021) (104,549,342) Interest payable on long-term debt does not requue the use of current financial resources and, therefore, interest payable is not accmed as a liability in the balance sheet of govemmental funds. (1,862,372) Net assets of governmental activities $ 125,735,546 See accompanying notes to the basic financial statements. 12 THE REDEVELOPMENT AGENCY OF TIIE CFfY OF SANTA MONICA Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds Year Ended June 30, 2007 Revenues: Property tax increment Investment income Rental income Miscellaneous Total revenues Expenditures: Curtenb Housing and community development Passthrough payments Debt service: Principal Interest and others charges Total expenditums Excess (deficiency)ofrevenues (under)ezpendimres Other financing sources (uses): Proceeds of advances Transfers in (note 8) Transfers out (note 8) Total other financing sources (uses) Net change in fund balances Fund halance Beginning of year End of year See accompanying notes to basic financial statements. Capital projects Earthquake Downtown Recovery Ocean Park Redevelopment Redevelopment Redevelopment Earthquake Project Project Project Downtown Recovery Ocean Park Total Deht Service Low/Mod Low/Mod Low/Mod Redevelopment Redevelopment Redevelopment governmental Redevelopment IIousing Housing IIousing Project Protect Project toads $ - 102,514 10,799,089 742,142 410,057 43,196,356 2,913,537 58,163,695 110,706 31,802 641,172 38,102 126,660 3,433,412 255,545 4,637,399 - - - - 1,321,965 - - 1,321,965 - - 104,202 - 44,776 93,678 9,305 251,961 110,706 134,316 11,544,463 780,244 1,903,458 46,723,446 3,178,387 64,375,020 - 24,]35 8,791,805 325,635 ],315,249 9,312,562 443,998 20,213,384 - - - - - 11,950,152 - 11,950,152 4,255,000 - - - 134,925 - - 4,389,925 2,840,586 - - 824,723 275,791 3,941,102 7,095,588 24,135 8,791,805 325,635 2,274,897 21,262,714 719,789 40,494,563 (6,984,882) 110,181 2,752,658 454,609 (371,439) 25,460,732 2,458,598 23,880,457 - - - - 824,723 - 275,791 1,100,514 7,231,SG1 - - - - - - 7,23(,561 - - (886,028) (327,237) (1,154,611) (3,554,739) (1,308,946) (7,23],561) 7,231,561 - (886 028) (327,237) (329,888) (3,554,739) (1,033,155) 1,100,514 246,679 110,181 1,866,630 127,372 (701,327) 21,905,993 1,425,443 24,980,971 6,941 339 1,792,304 21,250,734 1,465,368 3,468,201 53,808,790 6,230,903 94,957,639 $ 7,]88,018 1,902,485 23,117,364 1,592,740 2,766,874 75,714,783 7,656,346 119,938,6!0 THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Reconciliation ofthe Statement of Revenues, Expenditures, and Changes in Fund Balance m the Statement oFAciivities Year Ended lone 30, 2007 Net change in Cund balance - govermental funds 3 24,980,971 Amounts reported foi govemmenta] actvides iv the statement ofactivities are different because: Governmental funds report capital outlays az expenditures. However, m the statement ' of activities the cost of these assets are allocated over thew estimated useful lives and reported az depreciatlon expense. The components ofcapital outlay rotated costs not reported in the statement of activities for the curzent period are as follows: Costs capiWized related to accumulated redevelopment project costs $ 3,137,376 Loss on disposal ofazse5 (74,319) Depreciation expense (1,124,825) 1,938,232 Bond issuance costs are expended in governmental funds whe¢ paid, however, aze capitalized and amortized over the life ofthe corresponding debt for the purposes ofthe statement of activities. Curzent year amortization (135,121) Repayment oflong-term debt principal is reported as an ezpendilure in govemmeatal funds and, thus, has the effect of reducing fund balance because current financial resources have been used. However, the principal payments reduce the liabiliies in the statement ofvet azsets and do not result in m expense in the statement of activities. The Agency's long-term debt was reduced because principat payments were made to bondholders: lax allocation bonds 3,205,000 Revenue bonds 1,050,000 4,255,000 Advances and repayment of advances aze reported as a revenues and expenditures in govemmevtal funds and, thus, has the effect ofreducivg fund halavice because curent financial resources have hern used. However, advances and repayment of advances increase/reducethe liabilities in the smtemev[ Dine[ assets and do m[ insult mincome/expense in the statement of activities. The Agrnc3/s advances were ivmeased/reduced because of the net advavices/paymevts made to the note holder: Advances from the City of Santa Monica (1,100,515) Repayment ofadvances from the City of Santa Monica 134,925 (9fi6,590) Accmed interest expense on long-term debt is zeported in the statement of activities but does not require the use ofcurrevtfmancial resources.Amortization of bond premiums, discounts and deferred amounts on refunding aze expensed az a componrnt of interest expense on the statement of activi&s. This amowt represents the net accrued intrrest expense and the amortization of bond premiums, discounts and deferzed amounts on refimding vo[ reported m governmental funds. Increase m accrued interest expense (884,156) Amortization ofbond premium discount 2,545 Amortization afdeferted amounts upon refunding (155,115) (1,036,726) Revenue related to a capitalized lease receivable is recorded as defered m the fiord financial statemrn[s because the amoum is not available to pay curzev[ liabilities but has bern recognized for Agency wide financial statement purposes. Revenue recorded m the current year m the fund financial statements (1 050,000) Change m vet assets of governmental activities $ -23,4$6'7bb- See accompanying notes to basic financial statements. 14 THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements Year Ended June 30, 2007 (1) Summary of Significant Accounting Policies The basic financial statements of the Redevelopment Agency of the City of Santa Monica. ("Agency") have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) as applicable to governmental units. The Governmental Accounting Standards Board (GASB) is the accepted standazd setting body for establishing governmental accounting and financial reporting principles. The more significant accounting principles of the Agency are described below: (a) General The Agency was established by the Santa Monica City Council in 1957 pursuant to the Community Redevelopment Law of California as codified in the State of California Health and Safety Code. The Agency has the broad authority to acquire, rehabilitate, develop, administer, and sell or lease property in a "Redevelopment Project Area": The Agency generally finances redevelopment projects through the issuance of tax allocation bonds. These bonds are payable from the incremental portion of property taxes collected within a project area relating to an increase in assessed valuation resulting from redevelopment. The County of Los Angeles ("the County") collects these incremental tax revenues on behalf of the Agency. The Agency has three project areas: the Downtown Redevelopment Project Area, the Earthquake Recovery Redevelopment Project Area and the Ocean Park Redevelopment Project Area. Downtown Redevelopment Project The City Council adopted the Redevelopment Plan for the Downtown Redevelopment Project on January 13, 1976. The Downtown Redevelopment Project encompasses 9.9 acres of property located in the downtown core of Santa Monica bounded by Broadway to the north, 4s` Street to the east, Colorado Avenue to the south, and 2na Street to the west. Complete in 1980, the project consists of Santa Monica Place; a retail center containing approximately 570,000 squaze feet of floor azea, including one major department store and approximately 65 specialty retail shops/food uses, linked by a three level enclosed common area, which is owned and operated by the Macerich Company. The project includes two agency-owned pazking structures that provide a total of 1,968 pazking spaces. The mall is scheduled to completely close for extensive remodeling in 2008 with an anticipated grand reopening iri 2009. 15 THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements (continued) Earthquake Recovery Redevelopment Project The City Council adopted the Redevelopment Plan Earthquake Recovery Project on June 21, 1994. The project is 2.9 square miles bounded to the east by Cloverfield Boulevard and 26~` Street, to the west by Pacific Coast Highway/Beach Promenade, to the south generally by Pico Boulevazd, and to the north by Montana Avenue and includes structures. predominately damaged in the January 1994 Northridge earthquake. Approximately 90% of all red tagged and 60% of all yellow tagged buildings in the City were in the project azea. To date the Earthquake Recovery Project has funded disaster prevention and mitigation, commercial revitalization, community revitalization and institufional projects: Ocean Park Redevelopment Project Area The Ocean Park Redevelopment Project azea includes two separate project areas which are known as Ocean Pazk Redevelopment Project lA and Ocean Park Redevelopment Project Area 1B. The City Council adopted the Redevelopment Plan for the Ocean Pazk Redevelopment Project lA on June 30, 1960. The Redevelopment Plan was amended on November 14, 1967, primarily to change the permitted land uses in the project azea. The project area is 25 acres bounded by Ocean Park Boulevazd to the north, Nielson Way to the east, Ocean Pazk Project 1B to the south and The State beach pazking lots and the beach itself to the west. Phase one of the project was completed in 1980 and phase two was completed in 1987. The project contains two 17-story, 250 rental unit high-rise buildings known as Santa Monica Shores and is surrounded by the Sea Colony condominium project, which contains 340 condominium units. Ocean View Pazk is also contained in the project area. The City Council adopted the Redevelopment plan for the Ocean Park 1B on January 24, 1961, with subsequent amendments on January 26, 1965, July 13, 1971, and again on September 12, 1972, which were implemented in order to change the permitted land uses within the project area. The project area consists of 8 acres bounded by Ocean Park Redevelopment project lA to the north, Nielson Way to the east, the City limit to the south and both the State beach pazking lots and the beach itself to the west. The project was completed in 1983. Currently the project has two senior citizen residential apartment complexes, Nielson Villas and Barnard Park Villas, which contain 100 and 61 rental units respectively. A former ufility building within the project was adapted to offices and art storage for the Eli Broad Trust Art Foundation. Project Area Time Limits For the Ocean Park Redevelopment project, agency indebtedness must have been incurred by January 1, 2004. Additionally, plan activities for the project area are to cease by January 1, 2012. The time limit for receiving property tax increment and paying off debt for the project azea is January 1, 2022. The time limit for incurring agency indebtedness for the Downtown 16 THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements (continued) Redevelopment project was eliminated by ordinance on January 13, 2004: Plan activities for the project azea are to cease by January 13, 2019 and the time limit for receiving property tax increment and paying off debt for the project azea is January 13, 2029. For the Earthquake Recovery Plan indebtedness must be incurred by June 21, 2014. The plan activities for the project area are to cease by June 21, 2027 and the time limit for receiving property tax increment and paying off debt is June 21, 2042. Local funds are provided principally from property tax increment and rentals for parking facilities. (b) Reporting Entity Under GASB No. 14, The Financial Reporting Entity, the Agency is considered a component unit of the City of Santa Monica since the Agency Board consists exclusively of the Mayor and the seven members of the City Council. Consequently, the Agency's fmancial statements are blended in the City's basic financial statements. (c) Basis of Accounting and Measurement Focus The basic fmancial statements of the Agency are composed of the following: • Agency-wide financial statements • Fund financial statements • Notes to basic financial statements Agency-Wide Financial Statements Agency-wide financial statements (i.e., the Statement of Net Assets and the Statement of Activities) display information about the Agency as a whole. All significant interfund activity has been eliminated in the Statement of Activities. The Agency provides only governmental activities which aze supported principally by property tax increment revenue. Agency-wide financial statements aze reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regazdless of the timing of related cash flows. Property tax increment revenue is recognized in the year for which it is levied. Amounts paid to acquire capital assets are capitalized as assets in the agency-wide financial statements, rather than reported as expenditures. Proceeds of long-term debt are recorded as a liability in the agency-wide financial statements, rather than as other financing sources. Amounts paid to reduce long-term indebtedness of the reporting government aze reported as a reduction of the related liability, rather than as expenditures.. hi the Agency-wide financial statements, net assets are classified in the following categories: Invested in Canital Assets, Net of Related Debt: This category groups all capital assets into one component of net assets. Accumulated depreciation and the outstanding balances of debt 17 THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements (continued) that aze attributable to the acquisition, construction or improvement of these assets reduce this category. Restricted Net Assets: This category presents external restrictions imposed by creditors, gantors, contributions or laws or regulations of other governments and restrictions imposed by law through consfitutional provisions or enabling legislation. Unrestricted Net Assets: Represents the net assets of the Agency, not restricted for any project or other purpose. Fund Financial Statements The accounting system of the Agency is organized and operated on the basis of separate funds. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures. Fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. The modified accrual basis of accounting is defined as the basis of accounfing under which expenditures, other than accrued interest on long-term debt, are recorded at the time liabilities are incurred. Revenues are recorded when received in cash, except for measurable and available revenues, which aze defined as available to finance current period expenditures and are accrued to properly reflect the revenues earned. Revenues which are susceprible to accrual include property tax increment, interest income, and rental income. All governmental funds aze accounted for on a spending or "fmancial flow" measurement focus. Generally, only current assets, and current liabilities are included on the balance sheets. However, non-current portions of long-term receivables related to governmental funds are also reported on their balance sheets and are offset by deferred revenue or fund balance reserve accounts. Statements of revenues, expenditures, and changes in fund balances for governmental funds generally present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. (d) Major Funds The Agency considers all of its funds as major governmental funds. They are: The Capital Projects Funds are as follows: Downtown Low/Mod Housing, Earthquake Recovery Low/Mod Housing, Ocean Pazk Low/Mod Housing, Downtown Redevelopment, Earthquake Recovery Redevelopment and Ocean Park Project Areas. The Capital Projects Funds are used to account for bond proceeds available for project improvements, interest income on invested funds, property tax increment revenues and certain other income. The Debt Service Fund is used primarily to account for repayment of principal and interest on long-term indebtedness of the Agency. 18 THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements (continued) (e) Investments Investments are stated at fair value and generally consist of federal government-backed securities. In order to maximize investment return, the Agency pools its available cash except for cash required to be held by outside fiscal agents under the provisions of bond indentures. All investment decisions are made by the City Director of Finance based on the Agency's investment policy or controlling bond indentures. Interest income, realized gains and losses and changes in fair value of investments arising from such pooled cash and investments are apportioned to each participating Agency fund based on the relationship of such fund's respective cash balances to aggregate pooled cash and investments. Interest income, realized gains and losses and changes in fair value of investments arising from cash and investments held by outside fiscal agents under the provisions of bond indentures is credited directly to the related fund. The Agency's investments aze stated at fair value. Fair value is determined based upon market closing prices or bid/asked prices for regulazly traded securities. The fair value of guaranteed investment contracts and other investments with no regulaz market are estimated based on similar traded investments. The fair value of mutual funds, government-sponsored investment pools and other similaz investments are stated at share value, or appropriate allocation of fair value of the pool, if separately reported.. Certain money market investments with initial maturities at the time of purchase of less than one year are recorded at cost. The calculation of realized gains and losses is independent of the calculafion of the net increase in the fair value of investments. Realized gains and losses on investments that had been held in more than one fiscal year and sold in the current fiscal year may have been recognized as an increase or decrease in fair value of investments reported in the prior year. (~ Long-Term Liabilities In the Agency-wide fmancial statements, long-term debt and other long-term liabilities are reported as liabilifies in the statement of net assets. In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well as bond issuance costs, during the period in which the bonds are issued. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuance aze reported as other financing sources while discounts on debt issuance are reported as other fmancing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures. (g) Property Tax Increment Revenues Property tax increment is considered as project revenue by the Agency when it becomes both measurable and available for financing the Agency's redevelopment activities during the 19 THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements (continued) yeaz. Property tax increment is considered available if received within 60 days following year-end in accordance with generally accepted accounting principles. Property tax increment revenues represent property taxes collected from the excess of taxes levied and collected each year on any redevelopment project over that amount which would, have been levied and collected on the base yeaz property tax assessment. A property tax base year is determined to be the year prior to the establishment of a redevelopment project area. (h) Deferred Revenue Funds received and not used in the current fiscal year are carried over to the next fiscal year and are included in deferred revenue as depicted in the accompanying fund fmancial statements. (i) Low- and Moderate-Income Housing Under requirements of the State of California Health and Safety Code, the Agency is required to set aside 20% of property tax increment revenues for use in housing projects benefiting low- and moderate-income households. At June 30, 2007, the net cumulative unspent low- and moderate-income housing set aside funds have been obligated by the Agency and are included in the respecfive project area Low and Moderate Income Capital Projects Fund for 20% set aside. (j) Use of Estimates The prepazafion of fmancial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of changes in net assets during the reporting period. Actual results could differ from those estimates. (k) Capital Assets Capital assets are recorded at cost where historical records aze available and at an estimated historical cost where no historical records exist. Contributed capital assets are valued at their estimated fair market value at the date of the contribution. Generally, capital asset purchases in excess of $15,000 or more and an estimated life in excess of two years. Buildings, parking structures and improvements other than buildings aze defined by the Agency as assets with an initial cost of $100,000 or more and an estimated useful life in excess of two years. Capital assets of the Agency are depreciated using the straight-line method over the following esfimated useful lives: Assets Years Building, parking structures and improvements 20 to 50 Improvements other than buildings 20 to 30 Machinery and equipment 5 20 THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements (continued) (2) Cash and Investments Cash and investments as of June 30, 2007 are classified in the accompanying financial statements as follows: Statement of Net Assets Cash and investments $ 91,194,248 Cash and investments with fiscal agent 7,832,229 Total cash and investments $ 99,026,477 Equity in the cash and investment pool of the City of Santa Monica The Agency has no separate bank accounts or investments other than investments held by bond trustee and the Agency's equity in the cash and investment pool managed by the City. The Agency is a voluntary participant in that pool. The pool is governed by and under the regulatory oversight of the Investment Policy adopted by the City's City Council. The Agency has not adopted an investment policy separate from that of the City. The fair value of the Agency's investment in this pool is reported in the accompanying fmancial statements at amounts based upon the Agency's pro- rata share of the fair value calculated by the City for the entire City portfolio. The balance available for withdrawal is based on accounting records maintained by the City, which are recorded on an original cost basis. Investments Authorized by Debt Agreements Investment of debt proceeds held by bond trustees are governed by provisions of the debt agreements, rather than the general provisions of the California Government Code or the Agency's investment policy. The table below identifies the .investment types that are authorized for investments held by the bond trustee. The table also identifies certain provisions of these debt agreements that address interest rate risk and concentration of credit risk. 21 THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements (continued) Maximum Maximum Authorized Maximum Percentage Investment Investment Type Maturity Allowed in One Issuer U.S Treasury Obligations None None None Federal Housing Administration Debentures None None None U.S. Agency Securities None None None Time Deposits None None None Unsecured Certificates of Deposit 180 days None None Banker's Acceptances 180 days None None State Obligations None None None Repurchase Agreements I yeaz None None Pre-refunded Municipal Obligations None None None Commercial Paper 270 days None None Money Market Mutual Funds None None None Investment Contracts 30 years None None Disclosures Relating to Interest Rate Risk Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment, the greater the sensifivity of its fair value to changes in market interest rates. One of the ways that the Agency manages its exposure to interest rate risk is by timing cash flows from maturities so that a portion of the portfolio is maturing or coming close to maturity evenly over fime as necessary to provide the cash flow and liquidity needed for operations. Information about the Agency's exposure to interest rate risk as a result of its equity in the cash and investment pool of the City provided by disclosures in the notes to the basic financial statements of the City that shows the distribution of the City's investments by maturity. Information about the sensitivity of the fair values of the Agency's investments held by bond trustee to market interest rate fluctuations is provided by the following table that shows the distrbufion of these investments by maturity. For purposes of this schedule, callable securities are assumed to be held to maturity: Remaining Maturity (in Months) 12 Months 13 to 24 25-60 More than Inveshnent Type or less Months Months 60 Months Held by bond trustee: Money maket funds $ 6,083,635 - - - U.S. agency securities 1,748,594 - - - Total $ 7,832,229 - - - 22 THE REDEVELOPMENT AGENCY OF THE. CITY OF SANTA MONICA Notes to Basic Financial Statements (continued) Disclosures Relating to Credit Risk Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statisfical rating organization. Presented below is the minimum rating required by (where applicable) the California Government Code, the Agency's investment policy, or debt agreements, and the actual rating as of year end for each investment type. Minimum Legal Investment Type Total Rating AAA Held by bond wstee: Money mazket funds $ 6,083,635 U.S. agency securities 1,748,594 Total $ 7,832,229 Concentraflon of Credit Risk AA 6,083,635 N/A 1,748,594 7,832,229 Investments in any one issuer (other than U.S. Treasury securities, mutual funds, and investment pools) that represent 5% or more of total investments by reporting unit (primary government; discretely presented component unit, governmental activities, major fund, nonmajor funds in the aggregate, etc.) are as follows: Issuer Custodial Credit Risk Investment Type U.S. Agency Securities Reported Amount 1,748,594 The Agency does not have significant separate certificates of deposit or demand accounts held by bond trustee that are subject to disclosable custodial credit risk (as defined by GASB Statement No. 40). For the investments held by bond trustee, the bond trustee selects the investment under the terms of the applicable trust agreement, acquires the investment, and holds the investment on behalf of the reporting government. 23 THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements (continued) (3) Notes Receivable Community Corporation of Santa Monica (a) Habitat for Humanity - Los Angeles (b) Community Corporation of Santa Monica (c) Step Up on Fifth L.P. (d) Low income senior housing (e) Community Corporation of Santa Monica (f) Santa Monica Housing Partners, Ltd. (g) Total notes receivable Balance at July 1,2006 Increases Decreases 2,900,000 - 523,685 - 4,458,033 1,561,778 46,250 61,952 2,949,318 1,108,274 3,126,233 - 2,733,631 $ 10,598,020 8,871,134 Balance at June 30, 2007 2,900,000 523,685 - 4,519,985 - 4,511,096 - 46,250 - 4,234,507 - 2,733,631 - 19,469,154 a. A promissory note dated January 28, 2003, in the amount of $1,382,619 was executed with Community Corporation of Santa Monica for an Affordable Housing Project located at 1512 Fifteenth Street. This loan was for the acquisition of land and predevelopment expenses for future low/moderate income housing. This was anon-interest bearing loan with the principal amount due and payable after atwo-year deferral period. On October 26, 2004 the note was superseded and replaced by a new promissory note secured by a deed of trust. The new note increased the amount of the note to $2,900,000, changed the due date of the note to 55 years from the later of the date the project is placed into service per Internal Revenue Service Form 8609 or the issuance of a certificate of occupancy, and changed the interest rate to 3%. At June 30, 2007, $2,900,000 had been disbursed to the borrower. b. A promissory note dated October 28, 2002, in the amount of $575,000 was executed with Habitat for Humanity -Los Angeles for an Affordable Housing Project located at 2018 Nineteenth Street. This loan is for the acquisition of a vacant parcel of land where Habitat will build up to six new ownership units that will be sold to very low income buyers. This is a non- interest bearing loan with the principal amount due and payable after atwo-year deferral period. At June 30, 2007, $523,685 had been disbursed to the borrower. c. A promissory note dated March 18, 2003, in the amount of $2,714,033 was executed with Community Corporation of Santa Monica for an Affordable Housing Project located at 2601 - 2615 Santa Monica Blvd which is more commonly lmovvn as 1349 26~ Street. This loan is for the acquisition of land and predevelopment expenses for a 40-unit income housing development. This was anon-interest bearing loan with the principal amount due and payable after atwo-year deferral period. On October 26, 2004. the note was superseded and replaced by a new promissory note secured by a deed of bust. The new note increased the amount of the note to $4,458,033, changed the due date of the note to 55 years from the later of the date the project is placed into service per Internal Revenue Service Form 8609 or the issuance of a 24 THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements (continued) certificate of occupancy, and changed the interest rate to 3%. At June 30, 2007, $4,458,033 had been disbursed to the borrower. A note dated June 12, 2007, was executed in the amount of $950,000 bearing interest at 3% due 55 years from the later of the date the project is placed into service per lntemal Revenue Service Form 8609 or the issuance of a certificate of occupancy. At June 30, 2007, $61,952 had been disbursed to the borrower. The Earthquake Recovery Redevelopment Project, the Downtown Redevelopment Project and the Ocean Park Redevelopment Project provided $605,935, $1,055,952 and $2,858,098 respectively. d. A promissory note dated December 17, 2004, in the amount of $1,985,000 was executed with Step Up on Fifth, L.P. for an Affordable Housing Project located at 1548 Fifth Street. This loan is for the acquisition and predevelopment expenses of a surface parking lot where Step Up will build up to 46 new rental units for very low income mentally disabled persons. This is a non-interest bearing loan with the principal amount due and payable after atwo-yeaz deferral period. On February 13, 2007, the note was superseded by a new promissory note secured by a deed of trust. The new note increased the amount to $5,870,000. At June 30, 2007, $4,511,096 had been disbursed to the borrower. e. The Redevelopment Housing Trust Fund, formerly known as "CHARP" provides funds to eligible borrowers in the form of deferred payment loans to make up the financial gap between available non-program resources, including the borrower's equity and private financing, and the limited equity cooperatives. At June 30, 2007, loans totaling $46,250 are outstanding. A promissory note dated January 30, 2006, in the amount of $1,497,714 was executed with Community Corporafion of Santa Monica for an Affordable Housing Project located at 2411- 2423 Centinela Avenue. This loan is for the acquisition and predevelopment expenses to construct 36 new rental units for very low income and low income persons. This is a non- interest bearing loan and is due and payable after atwo-yeaz deferral period. On July 24, 2006 the note was superseded and replaced by a new promissory note secured by a deed of trust. The new note increased the amount of the note to $4,234,507, changed the due date of the note to 55 years from the later of the date the project is placed into service per Internal Revenue Service Form 8609 or the issuance of a certificate of occupancy, and changed the interest rate to 3%. At June 30, 2007, $4,234,507 had been disbursed to the borrower. g. A promissory note dated February 13, 2007, in the amount of $3,120,000, was executed with Santa Monica Housing Partners for an Affordable Housing Project located at 1458 14`~ Street. This loan is for the acquisition and predevelopment expenses to construct 20 new rental units for very low income and low income seniors. This is a non- interest bearing loan and is due and payable after atwo-year deferral period. At June 3Q 2007, $2,733,631 had been disbursed to the borrower. (4) Capitalized Lease On May 1, 1978, the City of Santa Monica entered into a lease agreement with the Agency to provide parking for the shopping center in the Downtown Project. The lease requires the City to pay the Agency abase rental at an estimated rate of approximately $1,130,000 per year, and in addition, the lease requires the City to make additional payments each year sufficient to operate and 25 THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements (continued) maintain the Parking Facility. The lease extends for a period of 35 years or repayment of the bonds issued to finance construction of the Parking Facility, whichever occurs earlier. Upon temunafion of the lease, ownership of the Parking Facility will rest with the City. Such lease meets the criteria of a capitalizable financing lease. At June 30, 2007, the present value of the lease payments receivable from the City was $2,200,000. (5) Capital Assets A summary of changes in the Agency's capital assets for the fiscal year ended June 30, 2007, is as follows: Beginning Ending Balance Increases Decreases Balance Nondepreciable: Land $ 69,499,677 - - 69,499,677 Construction in progress 2,262,417 2,805,344 (1,274,879) 3,792,882 Depreciable: Building, parking stmctures, and improvements 38,964,637 1,532,592 - 40,497,229 Improvements other than buildings 10,841,446 - - 10,841,446 Machinery and equipment 6,303 - - 6,303 Total historical cost 121,574,480 4,337,936 (1,274,879) 124,637,537 Accumulated depreciation: Building, parking structures, and improvements (6,620,476) (989,794) - (7,610,270) Improvements other than buildings (8,561,267) (135,031) - (8,696,298) Machinery and equipment (6,203) - - (6,203) Total accumulated depreciation (15,187,946) (1,124,825) - (16,312,771) Total $ 106,386,534 3,213,111 (1,274,879) 108,324,766 Depreciation expense in the amount of $1,124,825 was charged to the Housing and Community Development function in the Statement of Activities. (6) Other Liabilities During the fiscal year ended June 30, 2003, the Redevelopment Agency and the Parking Authority entered into apurchase/sales agreement for the purchase/sale of six downtown pazking structures with related land for $60.0 million. The related promissory note, secured by a deed of trust, calls for annual principal payments of $2.0 million for 30 yeazs with interest. The promissory note was revised in December 2004 creating two fully amortized notes with a principal of $38,930,000 and $21,070,000. These parking structures with related land, built generally in the late 1960's, were carved on the books of the Pazking Authority at historical cost less related depreciation. At the time of sale, the book value of the six structures and land was $2,958,016. 26 THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements (continued) The sale/purchase transaction has been recorded as a transfer of the structures and land from the Parking Authority to the Redevelopment Agency and a corresponding receivable/liability for the book value of the assets transferred. The excess of the purchase price over the book value is not recorded as a gain on the transfer because the transaction is between two blended component units of the City of Santa. Monica. As related parties, no gain on the sale was recorded. Once the Redevelopment Agency's payments exceed the book value of the assets transferred, all future promissory note payments will be considered recorded as interfund transfers on the financial statements of the two component units. At June 30, 2007, $51.4 million plus interest remained due under the agreement. Also as part of the agreement, an additional $60.0 million has been committed by the Agency to make seismic repairs to the parking structures. (7) Long -Term Debt A summary of the changes in the long-term liabilities of the Agency for the year ended June 30, 2007 is as follows: Downtown Ocean Park Redevelop- ment Project Bonds Payable Bonds Beginning balance $ 3,250,000 Debt retired (1,050,000) Total bonds payable 2,200,000 Premium on band issue, net - Discount of bond issue, net - Deferred loss on refunding, net (22,321) Ending balance 2,177,679 Due within one year $ 1,080,000 Earthquake Recovery Project Bonds 64,720,000 (2,225,000) 62,495,000 46,594 (177,834) (3,636,086) 58,727,674 1,530,000 Redevelop- ment Project Bonds Total 16,600,000 84,570,000 (980,000) (4,255,000) 15,620,000 80,315,000 31,014 77,608 - (177,834) (173,046) (3,831,453) 15,477,968 76,383,321 1,015,000 3,625,000 On May 2, 2002, the Redevelopment Agency issued $5,640,000 of Downtown Project refunding bonds bearing interest at 4.6% to defease the outstanding 1992 Downtown Project Bonds. On May 2, 2002, the Redevelopment Agency issued $19,315,000 of Ocean Park refunding and new money bonds bearing interest at 5.03% to defease the outstanding 1992 Ocean Park Project Bonds. and to provide funds for new low/moderate income projects. On April 27, 2006, the City issued $64,720,000 of Earthquake Redevelopment Project refunding bonds bearing interest from 4.00% to 5.5% to advance refund the outstanding 1999 Earthquake Redevelopment Project. 27 THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements (continued) Debt service. requirements for the Agency's bonds at June 30, 2007 aze as follows: Downtown Redevelopment Project Bonds Principal Interest Total Fiscal year ending June 30: 2008 $ 1,080,000 58,680 1,138,680 2009 1,120,000 20,160 1,140,160 Total $ 2,200,000 78,840 2,278,840 Earthquake Recovery Project Bonds Principal Interest Total Fiscal year ending June 30: 2008 2009 2010 2011 2012 2013 - 2017 2018 - 2022 2023 - 2027 2028 - 2032 Total 1,530,000 1,615,000 1,705,000 1,795,000 1,900,000 11,080,000 13,705,000 16,995,000 12,170,000 62,495,000 2,875,469 2,788,981 2,697,681 2,601,431 2,499,819 10,918,789 8,249,248 4,864,400 884,166 38,379;984 4,405,469 4,403,981 4,402,681 4,396,431 4,399,819 21,998,789 21,954,248 21,859,400 13,054,166 100;874,984 Ocean Park Project Bonds Principal Interest Total Fiscal year ending June 30: 2008 $ 2009 2010 2011 2012 2013 - 2017 2018 - 2019 Total $ 1,015,000 1,055,000 1,095,000 1,145,000 1,195,000 6,870,000 3,245,000 15,620,000 711,129 670,998 626,629 578,170 525,495 1,692,520 164,125 4,969,066 1,726,124 1,725,998 1,721,629 1,723,170 1,720,495 8,562,520 3,409,125 20,589,066 28 THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements (continued) In addition, the Agency is indebted to the City of Santa Monica for the following loans, with interest at varying rates per annum accruing on principal only. These notes were for a period of one yeaz. At the end of that period, the notes were reissued, with accmed interest, for cone-year period: At June 21, 2005, the notes were amended to be due on demand when sufficient future unpledged property tax increment is available to redeem them. The notes consist of the following at June 30, 2007 Balance at Principal Principal Balance at Advance payable to June 3Q, 2006 addition reduction June 30, 2007 Downtovm Redevelopment Project Capital Project Fund: City of Santa Monica General Fund $ 1,368,937 65,229 - 1,434,166 City of5anta Monica General Fund 16,578,188 759,493 (134,925) 17,202,756 17,947,]25 824,722 (134,925) 18,636,922 Earthquake Rewvery Redevelopment Project Capital Project Fund: Ciry of Santa Monica Miscellaneous Grznts Ftmd Ciry of Santa Monica CDBG Special Revenue F~ard Ocean Pazk Redevelopmern Project Capital Project Fund: City of Santa Monica CDBG Special Revenue Fund City of SanlaMonira CDBG Special Revenue Fund Total advances payable to the Ciry of Santa Monica 3,ll 8,900 346,552 3,465,452 5,142,]55 245,024 3,118,900 346,552 3,465,452 5,387,179 645,700 30,768 676,468 5,787,855 275,792 6,063,647 $ 27,200,432 1,100,514 (134,925) 28,166,021 The notes payable in the Earthquake Recovery Redevelopment Project Capital Project Fund with outstanding balances of $3,118,900 and $346,552, respectively, as of June 30, 2007 are non-interest bearing. The above bonds, notes and advances are payable when future property tax increment revenues are received by the projects. Management does not anticipate that the remaining balance of these notes and advances will be repaid with currently available spendable resources. Management believes that the Agency is in compliance with all significant financial restrictions and requirements as set forth in its various bond covenants. 29 THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements (continued) (8) Interfund Transactions Transfers in (out) from other funds at June 30, 2007 are as follows: Transfers in for debt service payments Debt service fund Transfers out for debt service payments Earthquake Recovery Project Low/Mod Housing Fund Ocean Park Redevelopment Project Low/Mod Housing Fund Downtown Redevelopment Project Earthquake Recovery Redevelopment Project Ocean Park Redevelopment Project $ 7,321,561 (886,028) (327,237) (1,154,611) (3,554,739) (1,308,946) (7,231,561) 30 Mayer Fiof~rnan M~Cann P.C. An Independent CPA Firm Conrad Governmen# Services Division 2301 Dupont Drive, Suite 200 Irvine, California 92612 949-474-2020 ph 949-263-5520 fx www.mhm-pc.com Board ofDuectors Redevelopment Agency of the City of Santa Monica, California REPORT ON COMPLIANCE AND OTHER MATTERS AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENTAUDITING STANDARDS We have audited the financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of the Redevelopment Agency of the City of Santa Monica ("Agency") as of and for the year ended June 30, 2007, which collectively comprise the Agency's basic financial statements and have issued our report thereon dated November 16, 2007. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to fmancial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States: Compliance and Other Matters As part of obtaining reasonable assurance about whether the Agency's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. Such provisions included those provisions of laws and regulations identified in the Guidelines for Compliance Audits of California Redevelopment Agencies, issued by the State Controller and as interpreted in the Suggested Auditing Procedures for Accomplishing Compliance Audits of California Redevelopment Agencies, issued by the Governmental Accounting and Auditing Committee of the California Society of Certified Public Accountants. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. Internal Control Over Financial Reporting In planning and performing our audit, we considered the Agency's internal control over financial reporting as a basis for designing our auditing procedures for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Agency's internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Agency's internal control over financial reporting. A control deficiency exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A significant deficiency is a control deficiency, or combination of control deficiencies, that adversely affects the Agency's ability to initiate, authorize, record, process, or report financial data reliably in accordance with generally accepted accounting principles such that there is more than a remote likelihood that a misstatement of the Agency's financial statements that is more than inconsequential will not be prevented or detected by the Agency's internal control. 31 Board of Directors Redevelopment Agency of the City of Santa Monica, California Page Two A material weakness is a significant deficiency, or combination of significant deficiencies, that results in more than a remote likelihood that a material misstatement of the financial statements will not be prevented or detected by the Agency's internal control. Our consideration of the internal control over financial reporting was for the limited purpose described in the first paragraph of this section and would not necessazily disclose all deficiencies in internal control that might be significant deficiencies or material weaknesses. We did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses, as defined above. This report is intended solely for the information and use of the Boazd of Directors, and Agency's management and is not intended to be and should not be used by anyone other than these specified parties. Irvine, California November 16, 2007 32 Attachment C State Auditor Controller's Report of Financial Transactions Fiscal Year 2006-2007 REDEVELOPMENT AGENCIES FINANCIAL TRANSACTIONS REPORT COVER PAGE Redevelopment Agency Of The City Of Santa Monica Fiscal Year: 2007 ID Number: 13981984500 Submitted by: Signature -E~teeutive Birector Title P. Lamont Ewell Name (Please Print) Date Per Health and Safety Code section 33080, this report is due within six months after the end of the fiscal year. The report is to include iwo (2) copies of the agency's component unit audited financial statements, and the report on the Status and Use of the Low and Moderate Inwme Housing Fund (HCD report). To meet the filing requirements, all portions must be received by the California State Controller's Office. To file electronically: 1. Complete all forms as necessary. 2. Transmit the completed output file using a File Transfer Protocol (FTP) program or via diskette. 3. Sign this cover page and mail to either address helow with 2 audits and the HCD report. To file a paper report: 1. Complete all forms as necessary. 2. Sign this cover page, and mail complete report to ether address below with 2 audits and the HCD report. Report will not be considered filed until receipt of this signed cover page. Mailing Address: State Controller's Office Division of Accounting and Reporting Local Government Reporting Section P. O. Box 942850 Sacramento, CA 94250 Express Mailing Address: State Controller's Office Division of Accounting and Reporting Local Government Reporting Section 3301 C Street, Suite 700 Sacramento, CA 95816 x 00 t S r i. ~... ~ .,. i ,..a 51~:~, ~~pp r~3. ~ ~ ' ~ " Geae~~~ )hformatipn `'~~ _. 1 ~I, ~, , Fiscal Year ,2Q07;' Chei~persort''. Member . Member Bloom Shriver Genser O Connor Katz McKeown Holbrook 0 0 ,Meddle A~rst Namf< Initial ~: Richard Bobby Ken Pam Herb Kevin Robert 0 0 0 0 Mariiag A}Idress ,~~ Street 1 p,0. Box 2200 Street 2 Firm f;t2ltne ~irsk"..e..' M~drll~'~, Initial Str~~k: GitX~....~. State'. 7rp C;otle Phphe., Cast Name u Ewell Swindell Stewart Mayer Hoffman and McCann Dobrenen Steven 0 2301 Dupont Drive, Suite 200 Irvine CA 92614- (949) 474-2020 C~h' Santa Monica State CA Zip 90401-2200 Phone (310) 458-2232 Q Is Address Changed9 (310) 458-8253 Was the Report Prepared from Audited Financial Data, and Did You Submit a Copy of the Audit? Indicate Financial Audit Opinion If Financial Audit is not yet Completed, What is the Expected Completion Date? If the Audit Opinion was Other than Unqualified, State Briefly the Reason Given Was a Compliance Audit Pertormed in Accordance with Health and Safety Code Section 33080.1 and the State Controller's Guidelines for Compliance Audits, and Did You Submit a Copy of the Audit? Indicate Compliance Audit Opinion If Compliance Audit is not yet Completed, What is the Expected Completion Date? If compliance opinion includes exceptions, stale the areas of non-compliance, and describe the agency's efforts to correct. Yes Unqualified 0 Yes Unqualified 0 s B . AGdtklnformaflon Fiscal Year '" .;,. 2Qp7 Please Provide a Brief Description of the Activities for this Project Area During the Reporting Year. pr{~;: ;for existing lease revenue and providing funds for ing and preserving low and ate income housing Forwarded from Prior Year? Enter Code for Type of Project Area Report P =Standard Project Area Report L =Low and Moderate Income Housing Fund O =Other Miscellaneous Funds or Programs Does the Plan Include Tax Increment Provisions? Date Project Area was Established (MM-DD-YY) Most Recent Date Project Area was Amended Did this Amendment Add New Territory? Most Recent Date Project Area was Merged Will this Project Area be Carried Forward to Next Year? Established Time Limit Repayment of Indebtedness (Year Only) Effectiveness of Plan (Year Only) New Indebtedness (Year Only) Size of Project Area in Acres Percentage of Land Vacant at the Inception of the Project Area Health and Safety Code Section 33320.1 (xx.x%) Percentage of Land Developed at the inception of the Project Area Health and Safety Code Section 33320.1 (xx.x%) Objectives of the Project Area as Set Forth in the Project Area Plan (Enter the Appropriate Code(s) in Sequence as Shown) Yes 2029 2019 0 10 100.0 R=Residential I=Industrial C=Commercial P=Public O =Other During the reporting period, the Redevelopment Agency expended Earthquake Recovery funds on ongoing seismic retrofit of downtown public parking structures. Activities ' included: completing the design - work for the seismic retrofit of Parking Structure 4, located at 1321 '. 2nd St, and bidding out the project for construction; and, awarding of '. the design contract for seismic '. retrofit design on Parking Structure 2 ', to KPFF Consulting Engineers. rlisades Bluff Stabilization -Efforts retrofit and stabilize the Palisades uff commenced with slope erosion >pections and environmental view. The City prepared an Initial udy and Mitigated Negative ;claration ("MND") for the project early 2007 and commenced a 30- iy review period on February 5, i07, with Council consideration of :Initial Study and MND occuring FY 07-08. Civic Center Village - On ember 1, 2006, an Exclusive P =Standard Project Area Report L =Low and Moderate Income Housing Fund 0 =Other Miscellaneous Funds or Programs Does the Plan Include Tax Increment Provisions? Date Project Area was Established (MM-DD-YY) Most Recent Date Project Area was Amended Did this Amendment Add New Territory? Most Recent Date Project Area was Merged Will this Project Area be Carried Forward to Next Year? Established Time Limit A =Administrative Fund M =Mortgage Revenue Bond Program S =Proposed (Survey) Project Area Yes 6/21/1994 7/11/2006 No Repayment of Indebtedness (Year Only) Effectiveness of Plan (Year Only) New Indebtedness (Year Only) Size of Project Area in Acres Percentage of Land Vacant at the Inception of the Project Area Health and Safety Code Section 33320.1 (xx.x%) Percentage of Land Developed at the Inception of the Project Area Health and Safety Code Section 33320.1 (xx.x%) Objectives of the Project Area as Set Forth in the Project Area Plan (Enter the Appropriate Code(s) in Sequence as Shown) Yes 2042 2027 2014 1,851 10.0 90.0 RICPO R=Residential I=Industrial C=Commercial P=Public O =Other Please Provide a Brief Description of the Activities for this Project Area Forwarded from Prior Year ? During the Reporting Year. ,.,...... Enter Code for Type of Project Area Report Enter Code for Type of Project Area Report r 3'b~ ei~ ~i, ~~brt~,l~~ P =Standard Project Area Report A =Administrative Fund ax allocation bond debt was paid L =Low and Moderate Income Housing Fund M =Mortgage Revenue Bond Program ith funds from the Ocean Park O =Other Miscellaneous Funds or Programs S =Proposed (Survey) Project Area roject Areas. Funds were also used i preserve the supply of low and Does the Plan Include Tax Increment Provisions? Yes ioderate income housing. Date Project Area was Established (MM-DD-YY) 1/24/1961 Most Recent Date Project Area was Amended 7/11/2006 Did this Amendment Add New Territory? No Most Recent Date Project Area was Merged 0 Will this Project Area be Carried Forward to Next Year? Yes Established Time Limit ' Repayment of Indebtedness (Year Only) 2022 Effectiveness of Plan (Year Only) 2012 New Indebtedness (Year Only) 2004 Size of Project Area in Acres 33 Percentage of Land Vacant at the Inception of the Project Area 0 Health and Safety Code Section 33320.1 (xx.x%) Percentage of Land Developed at the Inception of the Project Area 100.0 Healfh and Safety Code Section 33320.1 (xx.x%) Objectives of the Project Area as Set Forth in the Project Area Plan (Enter the Appropriate Code(s) in Sequence as Shown) ~~ ~ ~ ~ ~ R =Residential I =Industrial C =Commercial P =Public O =Other Please Provide a Brief Description of the Activities for this Project Area Forwarded from Prior Year ? During the Reporting Year. Fiscal Year 2007 Project Area Name Frozen Base Assessed Valuation Increment Assessed Valuation Total Assessed Valuation Downtown Project Area 3,687,360 ' 173,239,487 '. 176,926,847 ,, ~'i .. Ass~ssed ~!al}Ia¢l~q~ C9ata~ ~ ~ .r„ . ' " ( ~ E Asse~~e41 Valuaflan Data ~ i ; ,, I Fiscal Year 2007 Project Area Name Frozen Base Assessed Valuation Increment Assessed Valuation Total Assessed Valuation Earthquake Recovery Project Area 3,867,274,539 4,862,006,267 ,.,.,....... ~. ~.____~__m_,...: 6,729,260,806 ~ a, t wld ~~ ~n ,G ~1SSessed ValtiaN4n Dafa ', ` ' a r;~~3? a. ~• Fiscal Year 2007 Project Area Name Frozen Base Assessed Valuation Increment Assessed Valuation Total Assessed Valuation Ocean Park Project Area 12,887,919 341,2 55,903 ..m......._.,,........~.......__.: 354,143,822 707 Project Area Name (Downtown Project Area Tax Increment Pass Through Detail Amounts Paid To Taxing Agencies Pursuant To: County Cities School Districts Community College District Special Districts Total Paid to Taxing Agencies Net Amount to Agency Gross Tax Increment Generated H& S Code H& S Code H 8: S Code Section 33401 Section 33676 Section 33607 Other Payments Total H & S Code H & S Code Section 33445 Section 33445.5 $0 $0 $0 $0 $0 ', _m.._....._ $Q $a $~ $~ $9 $4 ._,._m,. _,.,.__ .... _,...... ..,,.,.. ... . .... _ _..m ... ,.._. .. __. . ,m $512,571,,,.,,., 512,571 Page~1: ,11/20l200T RaSS Throug '! ~cf~ooi D~StriotAas~sfanc~ Fiscal Year 2007 Project Area Name Amounts Paid To Taxing Agencies Pursuant To: County Cities School Districts Community College District Special Districts Total Paid to Taxing Agencies Net Amount to Agency Gross Tax Increment Generated Earthquake Recovery Project Area Tax Increment Pass Through Detail Other Payments H& S Code H& S Code H 8 S Code Total H& S Code H& S Code Section 33401 Section 33676 Section 33607 Section 33445 Section 33445.5 $42,045,293 53,995,445 , Pad's "I~hrQt[gh~{~cho~l;'t#i'strlct l+ss+'stance, ~ ! , v., ~.. ~~.,.. ,..~~ ,~ ~.• ..~ ~.~~ Ea:• Fiscal Year 2007 Fiscal Year Project Area Name Amounts Paid To Taxing Agencies Pursuant To: County Cities School Districts Community College District Special Districts Total Paid to Taxing Agencies Net Amount to Agency Gross Tax Increment Generated 2007 Ocean Park Project Area Tax Increment Pass Through Detail Other.Payments H& S Code H& S Code H& S Code Total H& S Code H& S Code Section 33401 Section 33676 Section 33607 Section 33445 Section 33445.5 $0 $0 $0 .,..__,,,.,_ ~m___,___,....$Q__.. $0 $g.. $0 $0 $0 $0 $0 $3,655,679 tli2ot26o7 Fiscal Year Project Area Name Tax Allocation Bond Debt Revenue Bonds Other Long Term Debt City/County Debt Low and Moderate Income Housing Fund Other Total Available Revenues Net Tax Increment Requirements 2,278,840 0 23,619,419 268,976 $26,167,235 __.,_.. _. _....,_,._,.._..,.,,,....c 6,601,399 $19 565,836 ~ ~~ ~ ~~`~ ~ ~" sip ,~ ~~ ~ ~ _,`+ Srmm~ryol.theS~ehienf~ofln`debkedr~ess+~PruaeGtgrea >: 1: :9... ,.., a ,. tf u.4 .~..~e ~~ . . Fiscal Year ,.~, , .'; 2'pg7`' Project Area Name Tax Allocation Bond Debt 100,874,984 Revenue Bonds ~ 0 Other Long Term Debt 0 City/County Debt ~ 272,268,154 Low and Moderate Income Housing Fund 10,463,000 Other 11,724,000 Total $395,330,138 -~..-___~~~ .,.m_ . ,. Available Revenues . . . 81,850,253 Net Tax Increment Requirements $313 479,885 '. Fiscal Year Project Area Name Tax Allocation Bond Debt Revenue Bonds Other Long Term Debt City/County Debt Low and Moderate Income Housing Fund Other Total Available Revenues Net Tax Increment Requirements 16,471,252 ~~ 7,827,559 999,265 $25,298,076 9,963,813 . $15,314,263 , ':" 5ammaryof,~hg~~a~ame~Gs~xlnd~btedneas~~Prsajge~Area: ', ~ ,, ~ ~ i .._ ,~ , ,. , I i a e„ ~ , '~ ~l.h,; r atEl Agency Long-Term Debt Fiscal Year 2007 Project Area Name Downtown Pro ect Area Forward from Prior Year Bond Type Year of Authorization Principal Amount Authorized Principal Amount Issued Purpose of Issue Maturity Date Beginning Year Maturity Date Ending Year Principal Amount Unmatured Beginning of Fiscal Year Adjustment Made During Year Adjustment Explanation Interest Added to Principal Principal Amount Issued During Fiscal Year Principal Amount Matured During Fiscal Year Principal Amount Defeased During Fiscal Year Principal Amount Unmatured End of Fiscal Year Principal Amount In Default Interest In Default City/County Debt 2001 18,874,327 18,874,327 Project Funding 824,722 134,925 $18636,921 0 Bond Types Allowed: Tax Allocation Bonds; Revenue Bonds; Certificates of PaRicipation; Tax Allocation Notes; Financing Authority Bonds; City/County Debt; US;State; Loans; Lease Obligations; Notes; Deferred Pass-Throughs; Deferred Compensation; Other n a ...~ y qt Y .i~ v Fiscal Year Project Area Name Forward from Prior Year Bond Type Year of Authorization Principal Amount Authorized Principal Amount Issued Purpose of Issue Maturity Date Beginning Year Maturity Date Ending Year Agency Long-Tenn Debt 2007 Earth uake Recove Project Area Principal Amount Unmatured Beginning of Fiscal Year Adjustment Made During Year Adjustment Explanation Interest Added to Principal Principal Amount Issued During Fiscal Year Principal Amount Matured During Fiscal Year Principal Amount Defeased During Fiscal Year Principal Amount Unmatured End of Fiscal Year Principal Amount In Default Interest In Default City/County Debt 2001 13,827,877 13,827,877 Project Funding 2001 2040 $3 465,452.....,... 0 0 0 0 0 $3,465,452.,_, Bond Types Allowed: Tax Allocation Bonds; Revenue Bonds; Certificates of Participation; Tax Allocation Notes; Financing Authority Bonds; City/County Debt; US;State; Loans; Lease Obligations; Notes; Deferred Pass-Throughs; Deferred Compensation; Other Agency Long-Term Debt Fiscal Year Project Area Name Forward from Prior Year Bond Type Year of Authorization Principal Amount Authorized Principal Amount Issued Purpose of Issue Maturity Date Beginning Year Maturity Date Ending Year 2007 Ocean Park Project Area Principal Amount Unmatured Beginning of Fiscal Year Adjustment Made During Year Adjustment Explanation Interest Added to Principal Principal Amount Issued During FiscalYear Principal Amount Maturetl During Fiscal Year Principal Amount Defeased During Fiscal Year Principal Amount Unmatured End of Fiscal Year Principal Amount In Default Interest In Default City/County Debt 2001 7,499,324 7;499,324 Project Funding 2001 2020 $5 787,856 0 0 275,791 0 _., $6063,647 0 Bond Types Allowed: Tax Allocation Bonds; Revenue Bonds; Certificates of Participation; Tax Allocation Notes; Financing Authority Bonds; City/County Debt; US;State; Loans; Lease Obligations; Notes; Deferred Pass-Throughs; Deferred Compensation; Other p ~~ ~ ~ .~ Agency Long-Term Debt Fiscal Year Project Area Name Forward from Prior Year Bond Type Year of Authorization Principal Amount Authorized Principal Amount Issued Purpose of Issue Maturity Date Beginning Year Maturity Date Ending Year 2007 Downtown Project Area Principal Amount Unmatured Beginning of Fiscal Year Adjustment Made During Year Adjustment Explanation Interest Added to Principal Principal Amount Issued During Fiscal Year Principal Amount Matured During Fiscal Year Principal Amount Defeased During Fiscal Year Principal Amount Unmatured End of Fiscal Year Principal Amount In Default Interest In Default Revenue Bonds 2002 5,640,000 5,640,000 To Defease 1992 Bonds 2003 2006 $3,2~ 503 ,000 0 O 1,050,000 0 $2,200,000 Bond Types Allowed: Tax Allocation Bonds; Revenue Bonds; Certificates of Participation; Tax Allocation Notes; Financing Authority Bonds; City/County Debt; US;State; Loans; Lease Obligations; Notes; Deferred Pass-Throughs; Deferred Compensation; Other Agency Long•Term Debt Fiscal Year Project Area Name Forward from Prior Year Bond Type Year of Authorization Principal Amount Authorized Principal Amount Issued Purpose of Issue Maturity Date Beginning Year Maturity Date Ending Year 2007 Ocean Park Project Area Principal Amount Unmatured Beginning of Fiscal Year Adjustment Made During Year Adjustment Explanation Interest Added to Principal Principal Amount Issued During Fiscal Year Principal Amount Matured During Fiscal Year Principal Amount Defeased During Fiscal Year Principal Amount Unmatured End of Fiscal Year Principal Amount In Default Interest In Default Tax Allocation Bonds 2002 19,315,000 19,315,000 To Defease 1992 Bonds and Low/Moderate Income Housing 2003 2018 $16 600,000 0 980,000 0 ...».. $15620,000,.,,, Bond Types Allowed: Tax Allocation Bonds; Revenue Bonds; Certificates of Participation; Tax Allocation Notes; Financing Authority Bonds; City/County Debt; US;State; Loans; Lease Obligations; Notes; Deferred Pass-Throughs; Deferred Compensation; Other ., , ~ 11 ° . Fiscal Year Project Area Name Forward from Prior Year Bond Type Year of Authorization Principal Amount Authorized Principal Amount Issued Purpose of Issue Maturity Date Beginning Year Maturity Date Ending Year Agency Long-Term Debt 2007 Earth uake Recove Project Area Principal Amount Unmatured Beginning of Fiscal Year Adjustment Made During Year Adjustment Explanation Interest Added to Principal Principal Amount Issued During Fiscal Year Principal Amount Matured During Fiscal Year Principal Amount Defeased During Fiscal Year Principal Amount Unmatured End of Fiscal Year Principal Amount In Default Interest In Default Tax Allocation Bonds 2006 64,720,000 64,720,000 To Defease 1999 Bonds 2006 2029 $64,720,000 0 0 0 2,225,000 $62,495,000 - 0 0 Bond Types Allowed: Tax Allocation Bonds; Revenue Bonds; Certificates of Participation; Tax Allocation Notes; Financing Authority Bonds; City/County Debt; US;State; Loans; Lease Obligations; Notes; Deferred Pass-Throughs; Deferred Compensation; Other Low/Moderate Special Capital Project Debt Service Income Housing Revenue/Other Funds Funds Funds Funds Total Tax Increment Gross (Include All Apportionments) Special Supplemental Subvention Property Assessments Sales and Use Tax Transient Occupancy Tax Interest Income Rental Income Lease Income Sale of Real Estate Gain on Land Held for Resale Federal Grants Grants from Other Agencies Bond Administrative Fees Other Revenues Total Revenues 410,057 102,514 _ $512,.571,,.,. Fiscal Year :2007 Project Area Name Downtown Project Area ..._..$1903458... .... $2,429 .............. $134,316.,.. ...,....... $0,. ._..... $2040,203,.,.. Tax Increment Gross (Include All Apportionments) Special Supplemental Subvention Property Assessments Sales and Use Tax Transient Occupancy Tax Interest Income Rental Income Lease Income Sale of Real Estate Gain on Land Held for Resale Federal Grants Grants from Other Agencies Bond Administrative Fees Other Revenues Total Revenues Low/Moderate Special Capital Project Debt Service Income Housing RevenuelOther Funds Funds Funds Funds Total 43,196,356 10,799,089 $53,995,445 Fiscal Year X2007 Project Area Name Earthquake Recovery Project Area $46 723 446__.... _ ,,,,, $5 957. „$11.544 463 _„ $0 $56 273,866 Tax Increment Gross (Include All Apportionments) Special Supplemental Subvention Property Assessments Sales and Use Tax Transient Occupancy Tax Interest Income Rental Income Lease Income Sale of Real Estate Gain on Land Held for Resale Federal Grants Grants from Other Agencies Band Administrative Fees Other Revenues Total Revenues LowlModerate Special Capital Project Debt Service Income Housing Revenue/Other Funds Funds Funds Funds Total 2,913,537 742,142 $31655,679. Fiscal Year !2007 Project Area Name Ocean Park Project Area .,,,_,__,$3178387_._„, ,,,,$102,320_ ..„„_ $780 E44 _„ _ __ $0 $4060951 !. Capital Project Debt Service Low/Moderate Special Funds Funds Income Housing Revenue/Other Total Administration Costs 356,171 24,135 $380,306 .__.._......_. .__w..._w._~._._. Professional Services $0 Planning, Survey, and Design $0 !. Real Estate Purchases Acquisition Expense $p Operation of Acquired Property $p Relocation Costs _ $0 i Relocation Payments ~ $0 Site Clearance Costs $0 '- Project Improvement /Construction Costs 959,078 $959,078 ' Disposal Costs $0 '. Loss on Disposition of Land Held for $0 '. Resale ._.__...... __. _. _...__._,..__ Fiscal Year 2007 Project Area Name Downtown Project Area Capital Project Debt Service LowlModerate Special Funds Funds Income Housing RevenuelOther Total Decline in Value of Land Held for Resale $p Rehabilitation Costs $p , Rehabilitation Grants $p '. Interest Expense 824,723 93,841 $918,564 Fixed Asset Acquisitions $p Subsidies to Low and Moderate Income gp Housing Debt Issuance Costs $p Other Expenditures Including Pass- $p Through Payment(s) .___.,_____,_.....__,,.,.._.,....,_ Debt Principal Payments: Tax Allocation Bonds and Notes $p Revenue Bonds, Certificates of 1,050,000 $1,050,000 Participation, Financing Authority Bonds City/County Advances and Loans 134,925 - $134,925 All Other Long-Term Debt $p Total Expenditures $2,274,897 $1 143 841 $24,135 $0 $3,442 873 _.. Excess (Deficiency)Revenues over _ ($371,439) ($1141412) $110,181 $0_, ($1,402670)„ (under)Expenditures ~~~~~ ~ ~~~~ ~ ~ -- ~" "'~~ Statem~f pf IncokNs,rlmdF~sRend!)Urgs ~~+ ~R~f1~IfurBS ' "~ Fagp ~ , ~ ' ' [ : 1 !/~(1/20Q7:. .StaEement of IncomQand~xpendltures 1,Expenditures ;, ; ' Fiscal Year 2007 Project Area Name Downtown Project Area Capital Project Debt Service LowlModerate Special Funds Funds Income Housing Revenue/Other Total Administration Costs 2,646,033 24,135 $2_,670,168 ". Professional Services $p Planning, Survey, and Design $0 '.. Real Estate Purchases - $p Acquisition Expense $0 ;. _-_ __,,. m,.,.... ,., Operation of Acquired Property $p i Relocation Costs $p Relocation Payments $p Site Clearance Costs $p ~, Project Improvement/Constmction Costs 6,666,529 8,767,670 $15,434199 Disposal Costs $p Loss on Disposition of Land Held for $p i Resale ..,.m,.,.,._,.._.....,._.~__..,___._; Staff@inent of Incamelalid FxRerldi~urgs ~ Fasper~dltuaes .' P.,ag~ ~ I 71/2Q/2Q07.: i Stet~ment of Jr%eeme acid i:xpendrt¢res n E;wpen~dtEtire's ' •. ~~ .. <. ~. Fiscal Year 2007 Project Area Name Earth uake Recove Project Area Capital Project Debt Service Low/Moderate Special Funds Funds Income Housing Revenue/Other Total Decline in Value of Land Held for Resale Rehabilitation Costs Rehabilitation Grants Interest Expense Fixed Asset Acquisitions Subsidies to Low and Moderate Income Housing Debt Issuance Costs Other Expenditures Including Pass- Through Payment(s) Debt Principal Payments: Tax Allocation Bonds and Notes Revenue Bonds, Certificates of Participation, Financing Authority Bonds $0 11,950,152 $11,950,152 City/County Advances and Loans gp , All Other Long-Term Debt $0 Total Expenditures $21,262,714 $4 223 212 $8 791 805 $0 $34,277,731 ,.... Excess (Deficiency) Revenues over $25,460,732 ($4 217,255)_ $2,752,658 $0 $23 996,135 (under)Expenditures ~~~~ ` " -" Statpltlsnt of Inys+meiapd Fx~,~ndikures `a ~1rPdrjditures ;'.., ; ; Rage y ~ :. _ .1112(1l290.7~ , : ,, , ,~.';. Statement of Imcomea 'tT"Ex en gfut?es ~ E' endtture Fiscal Year 2007 Project Area Name Earth uake Recove Project Area Capital Protect Debt Service Low/Moderate Special Funds Funds Income Housing Revenue/Other Total Administration Costs Professional Services Planning, Survey, and Design Real Estate Purchases Acquisition Expense Operation of Acquired Property Relocation Costs Relocation Payments Site Clearance Costs Project Improvement /Construction Costs Disposal Costs Loss on Disposition of Land Held for Resale 204,882 24,135 $229,017 - $0 i $0 __.._. $0 I $0 $0 $0 $~ .: $0 ; 239,116 301,500 $540,616 Statement Pf InC.ei~e and F,XQelldltUf£S ^~speridlRures ',., ,. j Fa~gd;~ "; ., :; ;, ,',. ~' _ ;14{2D/204Z' . •s $#atemen# of Jriaome and F~tpentlitures ~ Expenrlttures : , Fiscal Year ypp~ Project Area Name Ocean Park Project Area Capital Project Debt Service Low/Moderate Special Funds Funds Income Housing Revenue/Other Total Decline in Value of Land Held for Resale $0 Rehabilitation Costs $0 ,_~,.___.___~~~_~,..mm_,.._; Rehabilitation Grants $p Interest Expense 275,791 748,535 $1,024326 ~. ~~ Fixed Asset Acquisitions $p ._..,.w ..............___....,......~.... Subsidies to Low and Moderate Income $p ~. Housing ..___,~,.._._~,_____.__.,.... Debt Issuance Costs Other Expenditures Including Pass- Through Payment(s) Debt Principal Payments: Tax Allocation Bonds and Notes Revenue Bonds, CertiFlcates of Participation, Financing Authority Bonds CitylCounty Advances and Loans All Other Long-Term Debt Total Expenditures Excess (Deficiency) Revenues over (under) Expenditures 980,000 $980,000 $0 I $0 $0 $719789 ., , $1 728 535.,__ _ . $325,635 __ $0 $2,773 959 '. ... , . $2458,598 ,($1,626215) $454609 $0 $1286992 ! Sfiat~ment of lileomeiand ~1sPand~ures F„zsp~ridltpras ! „ .. o ~; Pa9e 6 1'120/2007 14 I ` .. ilia a t z '. ~ ~ ~ ~ ~ i ,~ ?~ Sta ment of Igcome antl E72pentll~u' Res ~,~cpe~Httu~ea ' ~ ~ H ~" __ a ,.., _ ~ ,,.:.,,... t ~., _ 0 _. ..: , Fiscal Year 2007 Project Area Name Ocean Park Project Area ,~ ri. ,.. Statement of Ir~ct4trl~ ~rif~ (~xPef~dlt~res • Othe1F Finata~fa~' ~puP~es ... _ ,.. Fiscal Year 2007 Project Area Name (Downtown Project Area Capital Project Debt Service Low/Moderate Funds Funds Income Housing I Special RevenuelOther Total Proceeds of Long-Term Debt $p Proceeds of Refunding Bonds $p ~, __, ~~~~~~~ ..__.. Payment to Refunded Bond Escrow Agent $0 Advances from City/County 824,723 $824,723 ; Sale of Fixed Assets $p Miscellaneous Financing Sources (Uses) $p '. Operating Transfers In 1,154,611 $1,154,611 '. Tax Increment Transfers In 0 $~.„..: Operating Transfers Out 1,154,611 $1,154,611 Tax Increment Transfers Out 1 $p (To the Low and Moderate Income Housing Fund) Total Other Financing Sources (Uses) ($329,888) $1,154,611 $0 $0 $824,723 ~'. Project Area Name Downtown Project Area Capital Project Debt Service Low/Moderate Special Funds Funds Income Housing Revenue/Other Total Excess (Deficiency) of Revenues and ,_,_____,_$701 327) $13,199 $110 181_ $0 ($577 947j Other Financing Sources over Expenditures and Other Financing Uses Equity, Beginning of Period .,,w$3,468 201 , , $1 056,148 _ , $1 792 304 _ $0 ._ $6 316 653 ,', Prior Period Adjustments ~ ,. _ $0 !. Residual Equity Transfers $p, Equity, End of Period „$2 766 874 $1,069m347 $1 902 485 $0 $5,738,706 Capital Project Debt Service Low/Moderate Special Funds Funds Income Housing Revenue/Other Total Proceeds of Long-Term Debt $p Proceeds of Refunding Bonds $p ,..,__,.,__m,.,.,_.,.;. ~ ~~ Payment to Refunded Bond Escrow Agent $p - Advances from City/County $p - Sale of Fixed Assets $p Miscellaneous Financing Sources (Uses) $p Operating Transfers In 4,440,767 $4,440,767 Tax Increment Transfers In 0 , $Q Operating Transfers Out 3,554,739 886,028 _ ..,._... $4,440,767 Tax Increment Transfers Out _ _,., $p, (To the Low and Moderate Income Housing Fund) Total Other Financing Sources (Uses) ($3,554 739) $4 440,767 ($886,028) ,,, $0 $0„ Project Area Name Earth uake Recove Project Area Capital Project Debt Service Low/Moderate Special Funds Funds Income Housing Revenue/Other Total Excess (Deficiency) of Revenues and $21 905 993 $223 512 $1 866 630 $0 $23 996 135 -. Other Financing Sources over ~ ~" """ ""~~'°'""~""' Expenditures and Other Financing Uses Equity, Beginning of Period „_,.., $53,808 790 ', ._ $2 839,964., ._ $21 250,734_,, . _,_.,m ,,,,, $.0. _.._$77 899 488 Prior Period Adjustments $0 Residual Equity Transfers $0 Equity, End of Period $75 714,783 $3 063 476 $23 117 364 $0 $101 895 623 Proceeds of Long-Term Debt ~ _--$p ~~~ ~ Proceeds of Refunding Bonds $p-~ -,, ~~ Payment to Refunded Bond Escrow Agent $p Advances from City/County 275,791 $275,791 Sale of Fixed Assets SO Miscellaneous Financing Sources (Uses) $0 Operating Transfers In 1,636,183 $1,636,183 Tax Increment Transfers In Operating Transfers Out 1,308,946 327,237 $1,636,183 !. Tax Increment Transfers Out ~`°~`"`-- $p `~' (To the Low and Moderate Income Housing Fund) Total Other Financing Sources (Uses) ($1,033 155), $1,636,,183 _.._($327,237) " $0 $275,791 s ~. , e~ I~ [ .tip ._ ~ _ 69 i ~ F ~7i't i, ~ ~,~ ~nt~etltoflrt4onle~44~~>xge ~it,.~es 4)ther:Ff~yanrsirj 'sources,:; ~ ~: i .., , , ~~... ~ ~ ~ `~~ ~~' ~~~ ... Fiscal Year 2007 Project Area Name Ocean Park Project Area Capital Project Debt Service Low/Moderate Special Funds Funds Income Housing RevenuelOther Total Excess (Deficiency) of Revenues and „$1,425,443 $9 968 $127 372 $0 $1 562 783 Other Financing Sources over Expenditures and Other Financing Uses Equity, Beginning of Period ,_ ,.,_$6 230 903 m $3 045,227 ,$1465 368 $0 $10 741 498 Prior Period Adjustments 0 -"°°-""°°"-"°$0..__ Residual Equity Transfers 0 ..._.. ... ,..$o__~ Equity, End of Period , .,_„ , ,$7,656 346,.. ,,,_ $3 055,195 _ .,.,..._$1 592 740,,,,, , ,, , ,,,, „ $0 _, ,.__.m $12 304 281 Low/Moderate Special Fiscal Year 2007 Capital Projects Debt Service Income Housing RevenuelOther General Long- General Fixed Funds Funds Funds Funds Term Debt Assets Total Assets and Other Debits Cash and Imprest Cash Cash with Fiscal Agent Tax Increments Receivable Accounts Receivable Accrued Interest Receivable Loans Receivable Contracts Receivable Lease Payments Receivable Unearned Finance Charge Due from Capital Projects Fund Due from Debt Service Fund Due from Low/Moderate Income Housing Fund Due from Special Revenue/Other Funds 3,113,404 777,727 $3,891,131 . $0 560,488 125,649 $706 137 .m_,...,._..,.. ~.,_..,,....,.__,.,,._; 8,887,101 14,621,806 -- , _,,.,$23,508,907.,,, SO '' 2,200,000 -- $2 200,000 $0 .......... .... $0..,... $0 " ` '; Balance ShQSt:~ A`ssefs and S7kher"Debis' : ,'_ „ I. a ~ ' , :`.` ° ... , . ~ `, . ~ tia(anee ~ileet ;gsSetS ~11d pth~r" belbfs LowlModerate Special Fiscal Year 2007 Capital Projects Debt Service Income Housing Revenue/Other General Long- General Fixed Funds Funds Funds Funds Term Debt Assets Total Investments ~ ~ $0 , Other Assets ~~~ $0 ...... _..... _._.. _.w ~._..._~._..,..~.... Investments: Land Held for $0 .. Resale ._ .,,,.,.,. . ~...,_.,.,. Allowance for Decline In $0 , Value of Land Held for Resale Fixed Assets: Land, 108,324,667 $108,324 667 ~ ' Structures, and Improvements '°'-"°""' "°' ~" ~~°~~°~~° Equipment 100 $100 '. Amount Available In Debt 7,188,018 $7188018,. Service Fund .._...... ..................._.,....,,....„,„„, Amount to be Provided for 101,293,002 $101,293,002 Payment of Long-Term Debt ..................................._..~.„,.... sets and Other $95 054 031 $7 186 018 $27 090 603 $0 $1082481 020 $108 324 767 $346 138 439 Debits . , (Must Equal Total Liabilities, Other Credits, and Equities) Low/Moderate Special Fiscal Year 2007 Capital Projects Debt Service Income Housing RevenuelOther General Long- General Fixed Funds Funds Funds Funds Term Debt Assets Total Liabilities and Other Credits Accounts Payable Interest Payable Tax Anticipation Notes Payable Loans Payable Other Liabilities Due to Capital Projects Fund Due to Debt Service Fund Due to Low/Moderate Income Housing Fund Due to Special Revenue/Other Funds Tax Allocation Bonds Payable 78,115,000 $78,115,000 '-. Lease Revenue, Certificates 2,200,000 ~~ $2200000_ of Participation Payable, ~ --- ~ ~~ - Financing Authority Bonds All Other Long-Term Debt Total Liabilities and Other Credits !11/20/2007 ' ~ ~tq ~ i. i . f i ,. r' a L3planbe~Sheet ~la~ijl#ieS anf~Oxhrr ~re}hta ~:'~ , ' ~ "z ....5~... a~ .. ~ ~ $0 , ~: ~ ~, a{, .. a ' Bfi~9r~ce 9h~et°,t Liabii~t~es ani~ Qth~M' t;te'tlit~ LowlModerate Special Fiscal Year 2007 Capital Projects Debt Service Income Housing Revenue/Other General Long- General Fixed Funds Funds Funds Funds Term Debt Assets Total Equities Investment In General Fixed , ~~gk;;`~ 108 324 767 ~ $108 324 767 : Assets Fund Balance Reserved 50,253,079 7,188,018 26,010,425 $83,451,522 _ ; ~ Fund Balance . $o Unreserved-Designated °°° - --°~ un aance 35,884,924 602,164 $36487,088 ; Unreserved-Undesignated -°~-~°~°~-° Total Equities $86,138,003 _ „ $7,188 018 $26,612 589 $0 $108,324,767 $228 263,377,,,; Total Liabilities, Other Credits, and Equities $95,054031 $7,168,018 $27,090,603 $0 $1,08,481,020 $108,324,767 $346,138,439 , 1 1/20/2007 , ~'. ~ i ~ E' ' `Y ; ~ S~"t`em~nkaf tncom~ and~p~r~dltures Summar~r ~amtirtud ~r~ns~f~r;?~rx~Qux",'; ,r Fiscal Year 2b07~i Operating Transfers In ~ $? 231,561 Tax Increment Transfers In _. ___.._ $ Operating Transfers Out $7 231 561 Tax Increment Transfers Out ..,~ $0 Supplement to the Annual Report of Community Redevelopment Agencies For the Fiscal Year Ended June 30, 2007 Redevelo went A enc ID Number: 13981984500 Name of Redevelo meat A enc Santa *Zonica Redevelopment Agency The U.S. Bureau of the Census requests the following information about the fiscal activities of your government for the 2006-2007 fiscal year (defined from July 1, 2006 through June 30, 2007). Governments furnishing this information will no longer receive Census Bureau Form F-32, Survey of Local Government Finances. If you have any questions please contact: U.S. Bureau of the Census Gina E. Broxterman 1-800-242-4523 A. Personnel Expenditures Report your government's total expenditures for salaries and wages during the year, including amounts paid on force account construction projects. Z00 S 0 B. Mortgage Revenue Bond Interest Payments Report your government's total amount of interest paid on mortgage revenue bonds during the year. U20 $ 0 U.S Bureau ofthe Census-Revised 05/2005 STATEMENT OF INDEBTEDNESS -CONSOLIDATED FILED FOR THE 2007-0$ TAX YEAR Name of Redevelopment Agency Redevelopment Agency of the City of Santa Monica Name of Project Area California R 37144 (Ocean Park) 1A Cover Page Currant Balances Carried Forward From: Total Principalllnterest Line Outstanding Debt Due During Tax Year Fiscal Period -Totals (From Form A, Page 1 Totals) (1) $ 21,488,362 $ 7,624,260 {Optionaq Post Fiscal Period -Totals From Form a Totals) (2) Orentl 13) 21,486,882 7,824,280 TaWls Avaiiabie Revenues (4) 9,234,062 From Oalculatlon of Available Revenues, Line 7 Nat (5) $ 12,254,320 Requirement Consolidate on this form all oP the tlata contained on Form A antl s (including supplemenlai pages). Form A is to include all indebtedness entered into as of June 30 of the Fiscal Year. Form s may be flied at the option of the agency, and is to inclutle Indebtedness entered into post June 30 of the Fiscal Year, pursuant to Health antl SafeTy Code 5ewion 33675(c)(2). This is optional for each agency and is not a requirement fw Blling the Statement of Indebtedness. The RetonGllatron Statement is to inclutle intlebietlness from Form A only. Certigcatlon of Chief Finandal Officer. Carol Swindell Director of Finance Pursuant to Secgon 33675 (b) of the Health antl Safety Code, Name: ~~~~~./((////~~ Title: I hereby tarty that the above is a true and accurate Statement of ~.~C~~n~~s-'f-///./~~~~ Indebtedness forthe above named agency, vnom7 CALCULATION OF AVAILABLE REVENUES AGENCY NAME PROJECT AREA TAX YEAR: 2006-2007 RECONCILIATION DATES: Redevelopment Agency of the City of Santa Monica California R 37144 (Ocean Park) 1A JULY 1.2006 TO JUNE 30. 2007 1. Beginning Balance, Available Revenues (See Mstructions} 2. Tax Increment Received -Gross All Tax Increment Revenues, to include any Tax Increment passed through to other local taxing agencies. 3. All other Available Revenues Received (See Insfrudions) 4. Revenuesfirom any other source, included in Column E of the Reconciliation Statement, but not included in {1-3) above 5. Sum of Lines 1 through 4 6. Total amounts paid against indebtedness in previous year. (D + E on Reconciliation Statement) 7. Available Revenues, End of Year (5 - 6} FORWARD TH#S AMOUNT TO STATEMENT OF INDEBTEDNESS COVER PAGE, LINE 4 NOTES $ 7,901,660 3,164,553 234,685 11,300,898 2,066,836 $ 9,234,062 Tax Increment Revenues: The only amount(s) to be excluded as Tax Increment Revenue are any amoun#s passed through to other local taxing agencies pursuant to Health and Safiety Code Section 33676. Tax Increment Revenue set-aside in the Low and Moderate Income Housing Fund will be washed in the above calculation, and #herefore omitted from Available Revenues at year end. Item 4, above: This represents any payments from any source other than Tax increment OR available revenues. For instance, an agency funds a project with a bond issue. The previous SOI include a Disposition Development Agreement (DDA) which was fully satisfied with these bond proceeds. The DDA would be shown on the Reconciliation Statement as fully repaid under the "other" column (Col. E), but with funds that were neither Tax Increment, nor "Available Revenues" as defined. The amounts used to satisfy this DDA would be included on Tine 4 above in order to accurately determine ending "Available Revenues". STATEMENT OF INDEBTEDNESS -FISCAL YEAR INDEBTEDNESS FILED FOR THE 2007-2008 TAX YEAR Name of Redevelopment Agency Redevelopment Agency of the City of Santa Monica Name of Project Area California R 37/44 (Ocean Park) 1A For Indebtedness Entered into as of June 30, 2006 Form A Page 1 of 2 Debt Identincatfon Date Principal Original eta Interest Total Term Rate Interest urrent Total Principal/Interest Outstanding Debt Due During Tax Year S /Above (A) Santa Monica Note #2 06/30/61 $ 855;368 Demand CSM Rate $ - $ 4,773,580 $ 4,773,580 (B 2007-0820°h Hausing Set ASlde ~ 06/12/07 626,725 Open None - 626,725 826,725 5%Above (C) Santa Monica Note fF5 09114!83 757,521 Demand cSM mate - 599,418 599,418 (p} Rehab Off-Site Housing 05/08/84 2,810,500 50 Years None 849,600 125,472 (E) OP Refunding Bonds-2002`" 05/02/02 13,250,090 16 ears 5.03% 6,014,979 74,124,098 1,160.,124 F) 1988-89 7.0°b Shodfall 12/12/89 180,383 Open None - 180,383 180,383 (G) 1990-91 20°h Shortfall 01/14/92 ~ 15,030 O an None , 2,500 2,500 (H) 1991-92 20% Shortfall 01/26/93 32,582 Open None 32,582 32,562 (1)1992-9320%Shotfall 12174!93 72,763 O en None 72,763 72,763 (J) 2007-08 Relmb. Agreement 06(12107 178,372 Open None - 178,372 178,372 Sub Total, ' , ~. ~ $ 21,440,021 $ 7,775,919 This Page a s orwar e 48,361 48,361 From All Other Pages Total $ 21,486,382 $ 7,824,280 This Page Purpose of Indedtedness: (A) Redevelopment and operation casts (B) 20°b Housing Set Aside (C) Federal project podion closeout costs (D) Lease of units at 175 Ocean Park Boulevard (E) Advance refunding of Ocean Park 1992 bonds (F) Low and moderate income housing fund (G) Low and moderate Income housing fund (H) Low and moderate income housing fund (I) Low and moderate income housing fund (J) Operating Expenditures "Interest is accrued annually if total amount owing is not paid. "Adjusted to reflect 80°k fnancing by Ocean Park Fund and 20°h financing Low/Mod Housing Fund STATEMENT OF INDEBTEDNESS -FISCAL YEAR INDEBTEDNESS FILED FOR THE 2007-2008 TAX YEAR Name of Redevelnpment Agency Redevelopment Agency of the Clty of Santa Monica Name of Project Area California R 37/44 (Ocean Park) 1A For Indebtedness Entered into as of June 3d, 2006 Form A Page 2 of 2 Current Original Data Interest Totai Total Principalllnterest Date Principal Term Rate Interest Outstanding pebt Oue During Tax Year Dab[ Identification 0 (A) 2006-07 20 h Housing Set Aside 06120/06 $ 894,476 Open Nons $ - $ ~ - $ - (8) 2006.07 Reimb. Agreement 06/20/06 176,511 O en None (C 2006-07 Admin Indirect 06!20/06 62,754 Open None - D) 2007-OB Admin Indirect 06/12/06 48,361 4pan None - 48,361 45,361 (E) (F) (G N) 0) (J (K) (L) y ' ° otal F , $ 48,361 $ 48.361 This Page Purpose of Indebtedness: (A) 20°(r Housing Set Aside (Per Sec 33334.2 of Ca Redev Law) (H) (8) Operating Expenses (C) Opemting Expenses (~ ) (D) Operating Expenses (~ ) (E) (~ (F) (L) RECONCILIATION STATEMENT -CHANGES IN INDEBTEDNESS Page 1 of 2 Name of Agency Redevelopment Agency of the Ciry of Santa Monica Name of Project Area California R 37144 (Ocean Park) 1A Tax Year; 2007-2008 Reconciliation Dates: From July t, 2006 to June 30, 2007 A B C D E F Debt Identiflcatlen: Outstanding Debt Adjustments - Amounts Paid Against Remaining d lin : OI Brief Ail Beginning Increases Decreases Intlebiedness, from: Balance , page an S e i n T I r ment Other Funds (A+B.C-D-E Prior Yr Current Yr Descdption Indebtedness (attach explanalicn) on at (attach ex la ax nc e 91 Line A 9t Line A Santa Monies Note #2` $ 4,556,464 $ 217,116 $ - $ - $ - $ 4,773,580 Pg NEW Pg 1 626 725 Line Linea 2007-0820%HOUSin Set Aside - 626,725 - - , Pg 1 P91 - 599 418 Line C Line C Santa Monica Note #5' 572,155 ~ 27,263 - , Pg i Line D Pg 1 Lina D Rehab Otf-Site Housing 975,072 - 125,472 - 849,600 P9 1 Pg 1 Line E Line E OP Refunding Bonds - 2002" 15,309,873 - 1,185,775 - 14,124,088 Pg 1 Pg 1 Line F Line F 1988-69 20°Jo Shortfall 180,383 - - 180,383 Pg 1 Pg 7 LIneG LineG t990~912D% Set Aside 2,500 - - _ 2,SD0 Pg 1 Pg 7 32 582 LineH LineH 1997-9220%Shortfall 32,582 - - - , 871 104 $ - 311 247 $ 1 $ - $ 21,188,886 OTAL-THIS PAGE $ 21,629,029 , $ , , TOTALS FORWARD 906,504 265,150 116,569 755,589 - 299,496 GRA A S NOTE: This form is to reconcile the previous Statement of Indebtodness to the current one being filed. However, since the reconciliation is limited by law to a July t -June 36 fiscal year period, only those items included on the SOI Form A is W be included on this document. To assist in following each item of indebtedness from one SOI to the next, use page and line number references from each SOI that the item of indebtedness is listed on. If the indebtedness is new to this fiscal year, enter "new" in the "Prior YY' page and line columns. Column F must equal the current 301, Form A Total Outstanding Debt column. • Adjustment reflects accrued inisrest for FY 2008-07. "Ocean Park Retunding Bonds adjustment reflects 80%financing by Ocean Park Fund and 20% financing by Low/Mod Housing Fund. RECONCILIATION STATEMENT -CHANGES IN INDEBTEDNESS Page 2 of 2 Name of Agency Redevelopment Agancgof the City of Santa Monica Name of Project Area California R 371A4 (Ocean Park) f A Tex Year: 2007-2008 Reconciliation Dates: From July 1, 2006 to June 30, 2007 A B C D E F Debt IdentiTcation: Outsgnding Debt Adjustments Amounts Paid Against Remaining e an SOI d line: All Beginning Increases Decreases Indebtedness, from: Balance , pag Prior Yr Cunent Yr gdat Descdption Indebtedness (etgch explanation) (attach explanation) Tax Increment Other Funds (A+B-C-D-E) Pg 1 Line I Pg 1 Line I 1992-93 20% Shortfall $ 72,763 $ - $ $ - $ - $ 72,763 Pg NEW Line P9 7 Line) 2007-OB Relmb. Agreement 778,372 - 1]8,372 Pg1 Line B Pg2 Line A 2006-07 20% Sel Aside" 594,476 38,417 - 832,893 Pg 7 Pg 2 Line J Line B 2006-07 Reimb. Agreement" 176,517 118,569 59.942 Pg 2 Pg 2 Line b line C 2008-07 Admin Indirect 62,754 - - 62,754 Pg NEW Line Pg 2 Lina D 2tl07-08 Admin Indirect 48,361 48,361 P9 P9 Line Line Pg Pg Line Line Pg Fg Line Line P9 Pg Line Line Pg Pg Line Lina TOTAL-THIS PAGE $ 906,504 $ 265,150 $ 116,569 $ 755,589 $ - $ 299,496 'Adjustment reflects increase/decrease in estimate usetl on the previous 501 STATEMENT OF INDEBTEDNESS -CONSOLIDATED FILED FOR THE 2007-0$ TAX YEAR Name of Redevelopment Agency Redevelopment Agency of the Ciry of Santa Monica Name of Project Area EaYlhquake Recovery Redevelopment Project Cover Page Balances CarNetl Forwaro From: Period ~ Totals Debt Consolidate on this form all of the data contalnad on Form A and B (Including supplemental pages). Form A Is to include all Intlebtetlness entered Into as of June 30 of the Fiscal Year. Form B may be filledat the option of the agency, and is to include Indebtetlness entered into post June 36 oP the Fiscal Year, pursuant to Health and Safety Code Section 33875(c)(2). This Is optional For each agency and is not a requirement for filing the Statemem of Indebtedness. The Reconciliation Statement is to include indebtedness from Form A only. CerStication of Chief Financial Officer: Caro15wintlell Director of Finance Pursuant io SecGOn 33675 (b) of the Health and Safety Coda, Neme:///111 /J // Title: I hereby certify that the above Is a true and accurate Statement of / / /[//'// ~~!/~i~~ Indebtedness for the above named agency. L ' ( }~[1~V (~{~ _ 929!07 CALCULATION flF AVAILABLE REVENUES AGENCY NAME Redevelopment Agency of the Ciry of Santa Monica PROJECT AREA Earthquake Recovery Redevelopment Project TAX YEAR: 2006-2007 RECONCILIATION DATES: JULY 1.2006 TO JUNE 30. 2007 1. Beginning Balance, Available Revenues $ 64,912,570 (See Instructions} 2. Tax Increment Received -Gross 53,995,445 All Tax increment Revenues, to include any Tax Increment passed through to other local taxing agencies. 3. All other Availab[e Revenues Received 3,527,092 (See Instructions) 4. Revenues from any other source, included in Column E of the Reconciliation Statement, but not included in (1-3) above 5. Sum of Lines 1 through 4 122,435,1D7 6. Total amounts paid against indebtedness 40,584,854 in previous year. (D + E on Reconciliation Statement) 7. Available Revenues, End of Year (5 - 6) $ 81,850,253 FORWARD TWS AMOUNT TO STATEMENT OF INDEBTEDNESS COVER PAGE, LINE 4 NOTES Tax Increment Revenues: The only amount(s) to be excluded as Tax increment Revenue are any amounts passed through to other local taxing agencies pursuant to Healkh and Safety Code Section 33676. Tax Increment Revenue set-aside in the Low and Moderate Income Housing Fund will be washed in the above calculation, and therefore omitted from Available Revenues at year end. Item 4, above: This represents any payments from any source other than Tax Increment OR available revenues. For instance, an agency #unds a project with a bond issue. The previous SOI include a Disposition Development Agreement (DDA) which was fully satisfied wfth these bond proceeds. The DDA would be shown on the Rewnciiiafion Statement as fully repaid under the "other" columh (Col. E), but with funds that were neither Tax Increment, nor "Available Revenues" as defined. The amounts used to satisfy this DDA would be included on line 4 above in order to accurately determine ending "Available Revenues". STATEMENT OF INDEBTEDNESS -FISCAL YEAR INDEBTEDNESS FILED FOR THE 2007-2008 TAX YEAR Name of Redevelopment Agency Redevelopment Agency of the City of Santa Monica Name of Project Area ,Earthquake Recovery Redevelopment Project For Indebtedness Entered into as of June 30, 2006 Form A Page 1 of 2 original Oata Current Debt Idehtification Date Principal Term Interest Rate Total Interest Total Outstanding Debt Principalllnterest Due During 7az Year (A) 2006 Earthquake Project Bonds 04/27/06 64,750,tltl0 30 years 4.Sq% 49,378,197 100,674,984 4,405,469 (B) 2002-03 Promissory Noto -Parking Structures 06/20/03 60,000,000 Open 7.00% 32,550,000 95,421,030 3,670,138 (C) 2007-0B Reimb. Agreement 06/12/07 2,074,958 Open None 2,074,958 2,074,958 (D) 2007-08 20% Housing Set Aside 06/12/07 10,463,000 Open None 10,483,000 10,463,000 (E) 2007-08 AB1290 Pass Through 06/12/07 11,724,000 Open None 11,724,000 11,724,OOp F) 1996-97 Reimb. Agreement (6606) 1/02197' 20,000,OOp Open None - 72,250,194 (G) 2006-07 Reimb. A raement 06/20/06 1,470,966 Open None - (H) 2006-07 20% Housing Set Aside 06/20/06 9,044,000 Open None - I) 2006-07 AB1290 Pass Through 06/20/06 9,044,000 Open Nane (J) 2005 Santa Monica College Coop Agrmnt (6216) 07I75/OS 10,206,823 2 Years None - 6,167,070 6,167,070 (I~ 20071336.425th St Coop Agrmnt (86$3 05/24/07 6,000,000 O en None - 5,600,000 5,800,000 L) 2007 430 Arizona Coop Agrmnt (8693 D3/30/07 27,900,OOD Open None 27,900,000 27,900,000 Sub Tokal, 'his Page ota s orlar e Prom All Other Pages Total This Page , . '.' ~ , ~ ,<,° $ 272,675,236 722,654,902 $ 395,330,138 $ 72,204,635 20,461,158 $ 92,665,793 Purpose of Indebtedness: (A) Refunding of 1999 bonds (G) Operating Expenditures (B) Acqulsltlon of parking structures (H) 20°h Mousing Set Aside (Per Sec 33334.2 of Ca Redev taw) (C) Operating Expendtures _ (I) Pass Throughs Per A81290 (Sec 33607.5 (b) of Ca Redev Law) (D) 20% Housing Set Aside (per Sec 33334.2 of Ca Redev Law) (J) Facility construction (E) Pass Throughs Per A81290 (Sao 33607.5 (b) of Ca Redev Law) (IC) Property acquiaitlon (F) Commercial Sleetscape Project (L) Property acqulsltion `See First. Amendment dated 1112/99 antl Second Amendmant dated 1 /26/99. STATEMENT OF INDEBTEDNESS -FISCAL YEAR INDEBTEDNESS FILED FOR THE 2007-2008 TAX YEAR Name of Redevelopment Agency RedevelopmentAgenoy of the City of Santa Monica Name of Project Area Earthquake Recovery Redevelopment Project For Indebtedness Entered into as of June 30, 2006 Forrn A Page 2 of 2 Ori final Data Current Debt Identincation Date Principal Term Interest Rate Total Interest Total Outstanding Debt Prlncipalllnterest DUe During Tax Year (A)2000.01 Relmb.Agreement-Palisades Bluff 7954 05/22/01 $ 1,500,000 Open Nane - $ 1,469,243 $ 1,469,243 B) Saismio Retrofit of Parkin Stmctures 7&8 8078)' 06/19/01 8,950,200 Open None - 172,621 172,621 (C 2002-03 Pkg Struature Pert'. Agreement 8181) 01/09103 60,000,000 Open None 60,000,000 3,400,000 (D 2002-03 Relmb. Agrmnt-Lbry Pplc Pr Proj 8185 01!31/03 12,959,719 Open None - 187,468 93,744 (E) 2002-03 Palisades Blutf/HSg Coo ,Agrmnt (8180 01/09/03 50,000,000 Open None 50,000,000 4,500,000 (F) 2007-tl8 Admin Indirect 08/12/07 151,999 Open None - 151,999 151,999 G 2006-07 Admin Indirect 06/20/06 146,36fi O an None - (H) 200405 Seismic Retrofit Parkn Structre 5 (8449) 02/22/05 1,319,650 Open Nana 496,174 496,114 (I) 200405 Backstructure Removal A reement (8443) 02/10/05 764,996 Open None 1,719 1.719 (J) 2005.06 Seismic Retrofit Structure 4 (8474) 07/18!05 731,500 O en None 422,728 422,728 (iq 2007 415 PCH Coopeation Agreement 8676) 05!10/07 3,891,000 Open None 3,127,990 3,127,990 (L) 2007 163236 5th St Coop Agrmnt 8648) 12/07/06 7,625,000 Open None 6,625,000 6,625,000 otal This Pa e ~ ° g. $ 122,654,902 $ 20,461,158 Purpose of Indebtedness: (A) 2000-01 Reimb. Agreement -Palisades Bluff Project (G) Operating expanses (B) Selsmlc retrofit of downtown parking structures" (H) Seismic retrofit of parking structure 5 (C) 2002-03 Seismic retrofiUrehabitRate downtown parking structures (I) Removal of back structure at 1697 Ocean Blvd. (D) 2002-03 Santa Monica Main Library supplemental publle parking project (J) Seismic retrofit of parking structure 4 (E) 2002-03 Palisades Bluff stabilization project and~af(ordable housing projects (~ Construction of public beach facility (F) Operating expenses (L) Property aaquisitlon "Debt amount was increased from $8,956,200 to $10,866,200 per cooperation agreement dated 4/16/02 RECONCILIATION STATEMENT -CHANGES IN INDEBTEDNESS Page 1 of 3 Name of Agency Redevelopment Agency of the City of Santa Monica Name of Project Area Earthquake Recovery Redovelopment Project lax Year: 2007-2008 Reconciliation Dates: From July 1, 2006 to June 30, 2007 A e C D E F Debt Idantifcation: Outstanding Debt Adjustments Amounts Paid Against Remaining page and line: 801 Brief All Beginning Increases Decreases Indebtedness, from: Balance , Prior Yr Current Yr Descri tion Indebtedness (attach explanation) (attach explanation) Tax Increment O[her Funds A+g.GD-E) Pg 7 Pg 1 Line J Line A 2006 Earth wake roject bonds $ 105,098,797 $ - $ - $ 4,223,213 $ - $ 100,874,984 Pg 1 P9 1 2002-03 Promissory Not¢- Line B Line B Parking structures 99,090,289 - - 3,669,259 - 95,421,030 Pg NEW Pg 1 Line Line C 2007-08 Reimb. Agreement 2,074,958 - - - 2,074,958 Pg.NEW Pgi Line Line p 2007-08 20% Housing Set Aside 10,463,000 - - 10,463,000 Pg NEW Pg 1 2007-OB Pass Thrcughs Per Line LIneE A61290 - 11,724,000 - - 11,724,000 Pgi Pgt Line F Lina F 1986-97 Reimb. Agreement 12,250,194 12,250,194 Pg 1 Pg Line D Lina H 2006-07 26% Housing Set Aside' 9,044,000 1,755,089 - 10,799,089 - Pg 1 P9 7 Lina E Line 1 2006-07 A61290 Pass Through` 9.044,000 2,906,152 11,950,152 TOTAL-THIS PAGE $ 234,526,680 $ 28.923,199 $ - $ 30,641,713 $ - $ 232,808,166 TOTALS FORWARD 167,374,277 5,090,836 - 9,943,141 - 162,521,972 GRAND TOTALS $ 401,900,957 $ 34,014,035 $ - $ 40,584,854 $ - $ 395,330,138 NOTE: This form is to reconcile the previous Statement of Indebtedness to the current one being Oled. However, since the reconciliation is limited by law to a July 1 -Jana 30 fiacal year period, only those items included on the SOI Form A is to be included on this document To assist In fallowing each item of indebtedness from one SOI to fhe next, use page and line number references from each SOI that the item of indebtedness is listed on. It the indebtedness fs new to this fiscal year, enter "new" ib the "Prior Yr" page and line columns, Column F must equal the current SOI, Form A Total Outstanding Debt column. Adjustment regects increase In estimate usetl on the premeus mot RECONCILIATION STATEMENT -CHANGES IN INDEBTEDNESS Page 2 of 3 Name of Agency Redevelopment Agency of the City of Santa Monica Name of Project Area Earthquake Recovery Redevelopment Project Tax Year: 2007-2008 Reconciliation Dates: From July 1, 2006 to June 30, 2007 q g G D E F Debt Identifiratiom Outstanding Debt Adjustments Amounts Paid Against Remaining page end line: SOI Brief All Beginning Increases Decreases Indebtedness, from: Balance , Prior Yr Current Vr Description Indebtedness (attach explanation) (attach explanation) Tax Increment Other Funds (A+g-C-D-E) Pg 1 Line C Pg 7 Line O 2006-07 Reimb. Agreement' $ 1,470,966 $ 140,337 $ - $ 1,611,303 $ $ P9 2 LineA Pg 2 LineA 2000-01 Reimb. Agreement- Palisades BlOHProject (7954)' 850,285 907,5tl0 - 288,522 1,469,243 P9 2 Line B P9 2 Line B Seismic Retrofit of Parking Structures 7&8 (8078) 1,973,892 7,801,271 172,621 Pg 2 Line C Pg 2 Llne C 2002-03 Parking Structure Perf. Agreement (8187) 60,000,000 - 60,tl00,000 Pg 2 Line D Pg 2 Line 0 2002.03 Reimb. Agreemenl- Library Pblc Prkng Prjct (8785) 280,404 92,916 187,488 P9 2 Line E P9 2 Lina E 2002-03 Palisades BIuR/HSq Gooperation Agreement (8180) 50,000,000 50,000,000 P9 NEW Line Pg2 Line F 2607-08 Admin Indirect 751,999 - - 151,999 Pg2 Pg2 Line F Line G 2006-07 Admin Indirect 746,368 146,368 - Pg NEW Line Pg 1 Luce J 2005 Santa Monica College Cooperation Agreement (8276) 70,266,823 - 4,039,753 6,167,070 Pg 2 Line J Pg 2 Line H 2004.05 Seismic Retrofit of bwntn Prkng Strctre 5 8449) 496,774 - - 496,114 Pg 2 line K Pg 2 Lino I 2004.05 Removal of structure a7 1657 Ocean Ave (8443) 1,719 1 719 Pg 2 Lina L Pg 2 Llne J 2005-06 Seismic retmft of arking sWClure 4 8474 $ 422,728 $ - $ - $ - $ $ 422,725 TOTAL-THIS PAGE $ 125,849,277 $ 1,199,836 $ - $ 7,980,131 $ - $ 119,066,982 ' Adjustment reflects increaseldecrease in estimate used on the previous SOI ° Adjustment reflects decrease due to low/mod Daring a portion of the debt RECONCILIATION STATEMENT -CHANGES IN INDEBTEaNESS Page 3 of 3 Name of Agency Redevelopment Agency of the City of Santa Monica Name of Project Area Earthquake Recovery Redevelopment Project Tax Year: 2007-2008 Reconciliation Oates: Prom July 1, 20D0 to June 30, 2007 Debt Identlflcalion: Outstanding Debt Adjust ments Amounts Paid Against Remaining d li S I All Beginning Increases Decreases Indebtedness, from: Balance , page an O ne: Brief B E C D Prior Yr Current Yr Descd lion Indebtedness (attach explanation (attache lanallon) Tax Increment Other Funds - A+ ) - • Pg NEW Pg 2 2007 475 Pacific Coast Highway - 127 990 3 Line IneK Ccop Agrmnt (8676) 3,891,000 763,Oi0 , , Pg NEW Pg 1 2007 1338.42 5th St CoopeBOOn 00 000 800 000 5 Line Line K Agrmt (8664) 6,000,000 , 2 , , Pg NEW Pg 7 2007 430 Arizona et al 000 27 900 Line Line Cooperetion Agrmnt (8893 27,900,000 , , Pg NEW P9 2 2007 1632-36 5th Bt Cooperation 0 000 0 000 6 625 Line Line L A rmnt 8648) 7,625,000 , 7, 0 , , Pg Pg Line Line Pg Pg Line Line pg Pg Line Line Pg Pg Line Line P9 P9 Line Line Pg Pg Line Line Pg Pg Line Llne Pg Pg Line Line TOTAL•THIS PAGE $ 47,625,000 $ 3,891,000 $ - $ 1,963,010 $ - $ 43,451.,990 STATEMENT OFINDEBTEDNESS -CONSOLIDATED FILED FOR 7HE 2007-08 TAX YEAR Name of Redevelopment Agency Name of Project Area Redevelopment Agency of the City of Santa Monica Downtown Redevelopment Project Cover Page Balances Carried Forward From: Form Perlcd -Totals Tax Consolidate on this form all of the data contained on Form A and B (including supplemental pages). Form A is to include all indebtedness entered Into as at June 30 of the Fiscal Year. Form a may be filled at the option of the agency, and is to include indebtedness entered into post June 30 of the Fiscal Year, pursuant to Healtb and Safety Code Section 33675(c)(2). This is optional fnr each agency and is not a requirement for filing the Statement of Indebtedness. The Reconciliation Statement is to Include indebtedness from Form AOnly. CeNFlCatlon of Chief Financial Officer: Carol Swindell Direcbr of Finance ParaUanl to Section 33675 (b) of the Health and Safety Cotle, Name: n Tltla: I hereby ceN(y thatthe above Is a au6 and eccu2te Statement of ~~~~Ca~/Qy(/~~/~`~~ Indebtedness for the above named agency. }~/(/ 9/29/07 CALCULATION OF AVAILABLE REVENUES AGENCY NAME Redevelopment Agency of the City of Santa Monica PROJECT AREA Downtown Redevelopment Project TAX YEAR: 2007-2008 RECONCILIATION DATES: JULY 1.2006 TO JUNE 30 2007 1. Beginning Balance, Available Revenues $ 6,897,756 (See Instructions) 2. Tax increment Received -Gross 512,572 All Tax Increment Revenues, to include any Tax Increment passed through to other local faxing agencies. 3. AJI other Available Revenues Received 1,428,183 (See Instruc#ions) 4. Revenues from any other source, included in Column E of the Reconciliation Statement, but not included in (1-3j above 5. Sum of Lines 1 through 4 8,838,511 6. TotaE amounts paid against indebtedness 2,237,112 in previous year. (D + E on Reconciliation-Statement) 7. Available Revenues, End of Year (5 - 6} $ 6,601,399 FORWARD TH[S AMOUNTTD STATEMENT OF INDEBTEDNESS COVER PAGE, LIME 4 NOTES Tax Increment Revenues: The only amount(s) to be excluded as Tax Increment Revenue are any amounts passed thrcugh to other local taxing agencies pursuant fo Health and Safety Code Section 33676. Tax Incremant Revenue set-aside in the Low and Moderate income Housing Fund will be washed in the above calculation, and Therefore omitted from Available Revenues at year end. Item 4, above: This represents any payments from any source other than Tax increment OR available revenues. For instance, an agency funds a project with a bond issue. The previous SOI include a Disposition Development Agreement (DDA) which was fully satisfied with these bond proceeds. The DDA would.be shown on the Reconciliation Statement as fully repaid under the "other" cclumn (COL E), but with funds that were neither Tax Increment, nor "Available Revenues" as defined. The amounts used to satisfy Phis DDA would be included on line 4 above in order fo accurately determine ending "Available Revenues". STATEMENT OF INDEBTEDNESS -FISCAL YEAR INDEBTEDNESS FILED FOR THE 2007-2008 TAX YEAR Name of Redevelopment Agency Redevelopment Agency of the City of Santa Monica Name of Project Area Downtown Redevelopment Project For Indebtedness Entered into as of June 30, 2006 Purpose of Indebtedness: (A) Finance portion of cost of pkg structure (Refunded Series 1992) (B) Land, construction, relocation and operation costs (C) For land transfer (D) Pkg. Structure Agreement (Est. based on formula calculation) (E) Third Street mall imp. (Reduced for sale of COP's during 1986.87) (F) Low and moderate income housing fund (G) Operating expenditures (HJ 20°,6 Housing Set Aside (Per Sec. 33334.2 of Ca Redev Law) (I) Operating expenditures Form A Page 1 of 2 'Notes are payable on demand with accrued Interest "Original agreement ($16,187,626) less 1988 Certificates of Participation ($12,714,613) equals outstanding debt. STATEMENT OF INDEBTEDNESS -FISCAL YEAR INDEBTEDNESS FILED FOR THE 2007-2008 TAX YEAR Name of Redevelopment Agency Redevelopment Agency of the City of Santa Monica Name of Project Area Downtown Redevelopment Prajec[ For Indebtedness Entered into as of June 30, "2006 Form A Page 2 of 2 Original Data Current Debt Identification Date Princi al Term Interest Rate Total Interest Total Outstanding Debt Principallinterest Due During Tax Year (A) 2006-07 20°k Hcusing Set Aside 06/20/06 $ 370,000 Open None $ - $ - $ - (8)2007-O6 Admin Indirect 06/12/07 60,266 Open None - 60,266 60,266 (C) 200&07 Admin Indirect 06/20!06 73,183 O en None - - (D (E) (FI (G) (H) (I) (~ (K) (L) Total This Page > $ 60,266 $ 60,266 Purpose of Indebtedness: (A) 20% Housing Set Asitle (G) (B) Operating Expenditures (H) (C) Operating Expenditures (I ) (D) W ) (E) (IQ (F) (L) RECONCILIATION STATEMENT -CHANGES IN INDEBTEDNESS Page 1 of 2 Name of Agency Redevelopment Agency of the City of Santa Monica Name of Project Area Downtown Redevelopment Project Tax Year: 2007-2008 Reconciliation Dates: From July 1, 2006 to June 30, 2007 q g C D E F Debt Identificagon: Outstanding Debt Adjustments Amounts Paitl Against Remaining 501, age and line: Brief All Beginning Ineroases Decreases Indebtedness, from: Balance Prior Yr Current Vr Description Indebtedness (attach explanaron) (attach explanation) Tax increment Other Funds A+e•GD•E) P9 1 Line A Pg 1 Line A Parking Lease Revonue Bonds $ 3,422,680 $ - $ - $ 1,143,840 $ - $ 2,278,840 Pg 1 Pg 1 Line B Line B Santa Mornce Nate #1' 1,368,936 85,230 - 1,434,168 Pg 1 Pg 1 Line C Line C Santa Monica Note #6" 16,578,188 759,493 134,925 - 17,202,756 Pg 1 Pg 1 Line D Line D Pkg. Structure Relmb. Agreemt. 1,549,418 530,100 - 1,019,318 Pg 1 Pg 1 Lina E Line E D!i Coop/Reimn, ggreement 3,473,013 - - 3,473,013 Pg NEW Pg1 Line LineH 2007.0820%Set Aside 258,666 256,666 P9 1 Pg 1 Line F Line F 1992.931.0% ShoMell 10,310 10,310 Pg Pg Lina Line 0 - TOTAL-THIS PAGE $ 26,402,545 $ 7,083,389 $ - $ 1,8178,865 $ - $ 25,677,069 TOTALS FORWARD 823,483 490,166 395,236 428,247 490,166 GRAND TOTALS $ 27,226,028 $ 1,573.888 $ 395,236 $ 2,237,112 $ - $ 26,187,235 NOTE: This form is to reconcile the previous Statement of Indebtedness to the current one being filed. However, since the reconciliation is limited by law to a July 1 • June 30 Tiscal year period, only those items included on the SOI Form A is to be included on this document. To assist in following each item of indebtedness from one SOI to the next, use page and line number references from each S01 that the (tam of indebtedness is listed on. If the indebtedness is new to this fiscal year, enter "new" in the "Prior Yr" page and line columns. Column F must equal the current SOI, Form A Total Outstanding Debt column. Adjustment redacts accrued interest for 2006-07 RECONCILIATI(7N STATEMENT -CHANGES IN INDEBTEDNESS Page z of 2 ,Name of Agoncy Redevelopment Agency of the City of Santa Monica Name of Project Area Downtown Redevelopment Project Tax Year: 2007-2008 Reconciliation Dates: From July 1, 2006 to June 30, 2007 A B G D E P Debt Identification: Outstanding Debt Adjustments Amounts Peid Against Remaining SOI page and line: Brief All Beginning Increases Decreases Indebtedn ess, from: Balance , . Prior Yr Curcent Yr Description Indebtedness (attach explanation) (attach explanation) Tax Increment Other Funds A+e-C-D-E) Pg 1 Pg 2 LineH LineA 200G•0720%Set-Aside' $ 370,000 $ - $ 267,486 $ 102,514 $ $ - Pg 1 Pg 1 Line G Line I 2006-97 Reimb. Agreement" 380,300 - 127,759 252,550 - - Pg NEW Pg 7 Line Llne G 2007-OB Relmb. Agreement 429,900 428,900 Pg NEW Pg 2 Line Line 6 2007-OB Admin Indirect 60,266 ~ 60,266 Pg2 P92 Line 8 Una C 2006-07 Admin Indirect 73,183 73,183 - - Pg Pg Line Line P9 P9 line Lina Pg Pg Line Line Pg Pg Line Lina Pg Pg line Llna Pg Pg Line Line T07'AL-THIS PAGE -$ 823,403 $ 490,168 $ 395,236 $ 428,247 $ - $ 490,166 `Adjustment reflects Increase/decrease in estimate used on the previous SOI. STATEMENT OF INDEBTEDNESS -CONSOLIDATED Cover Page FILED FOR THE 2007-08 TAX YEAR Name of Redevelopment Agency Redevelopment Agency of the City of Santa Monica Name of Project Area California R 37/44 (Ocean Park) 16 torten[ Balances Cartietl Forward From: Total Principal/Interest Line Outstanding Debt Due During Tez Yeer Fiscal Period • Totals From Form A, Page 1 Totals) (i) $ 3.809,694 $ 1,010,796 (Optinnaq Post Fiscal Period -Totals From Form B Totals) (Z) Grantl otals (3) 3,809,694 1,010,796 Available Revenues From Calculation ofAVailaDle Revenues, Line 7 (4) 749,751 Net Requirement (5) $ 3,059,943 Consolidate on this form all of the data contained an Form A antl B (Including supplemental pages). Form A Is to incWde all indebtetlness entered Into as of Juno 30 of the Fiscal Year. Form B may be filled at the opgon of the agency, and is to Include indebtetlness aMered into post June 30 of the Fiscal Year, pursuant to Nealth and Safety Gode Secdon 33675(c)(2). This Is optional for each agency and is not a requirement for filling the Statement of indebtedness. The Reconciliation Statement is to Include indebtedness from FortnAonly. CeNgcallon of Chief Financial Officer: Pursuant to Section 33675 (b) of the Haaltn and Safety Cotle, 1 hereby certify that the above Is a true and accurate Statement of Indebtetlnes3 for the above named agency. Carol Swindell Diractarof Finance CALCULATfON OP AVAILABLE REVENUES AGENCY NAME PROJECT AREA TAX YEAR: 2006.2D07 RECDNCILIATION DATES: Redevelopment Agency of the City of Santa Moniaa Ca@famia R 37144 (Ocean Park) 1 B JtlLY 1.2006 TO JUNE 30 2007 1. Beginning Balance, Available Revenues (See Instructions) 2. Tax Increment Received -Gross All Tax Increment Revenues, to include any Tax Increment passed through to other local taxing agencies. 3. AI[ other Available Revenues Received (See Instructions} 4. Revenues from any other source, included in Column E of the Reconciliation Statement, but not included in (1-3) above 5. Sum of Lines 1 through 4 6. Total amounts paid against indebtedness in previous year. (D + E on Reconciliation Statement) 7. Available Revenues, End of Year (5 - 6) FORWARD THIS AMOUNT TO STATEMENT OF INDEBTEDNESS COVER PAGE, LINE 4 NOTES $ 569,022 477,368 30,167 1,076,557 326,806 $ 749,751 Tax Increment Revenues: The only amount(s) to be excluded as Tax Increment Revenue are any amounts passed fhrough to other Iacal taxing agencies pursuant to Health and Safety Code Section 33676. Tax Increment Revenue set-aside in the Low and Maderate Income Housing Fund will be washed in the above calculation, and therefore omitted from Available Revenues at year end. Item 4, above: This represents any payments from any source other than Taz Increment OR available revenues. For instance, an agency funds a project with a bond issue. The previous SOI include a Disposition Development Agreement (DDA) which was fully satisfied with these bond proceeds. The DDA would be shown on the Reconciliation Statement as fully repaid under the "other" column {Col. E}, but with funds that were neither Tax Increment, nor "Available Revenues" as defined. The amounts used to satisfy this DDA would be included on line 4 above in order to accurately determine ending "Availab[e Revenues". STATEMENT OF INDEBTEDNESS -FISCAL YEAR INDEBTEDNESS FILED FOR THE 2007-2008 TAX YEAR Name of Redevelopment Agency Redeveopment Agency of the City of Santa Monica Name of Project Area California R 37!44 (Ocean Park) 1 B For Indebtedness Entered into as of June 30, E006 Form A Page 1 of 1 Original Data Current Interest Total Total PrincipaUlnterest Debt Identification Date Principal Term Rata Interest Outstandin Debt Due During lax Year 5%Above (A) Sania Monlca Note #2 06/30/87 $ 387,896 Demand csM Rata $ - $ 613,600 $ 613,600 8)2007-0820°h Hausin Set Asitle 06/12!07 76,275 Open None 76,275 76,275 .5% Above (C) Santa Monica Nota #5 09/14/83 123,316 Demand CSM Rate 77,049 77,049 (D Rehab Off-Site Housing OS/08!84 1,093,500 50 Years None 664,651 16,128 (E) OP Refunding Bontls-2002` 05107J02 2,201,910 18 Years 5.0300 999,574 2,347,154 198,776 (F) 2007-08 Reimb. A reement 06/12!07 22,928 Open None - 22,928 22,928 G) 2007-08 Admin Indirect 06/12107 8,037 Open None 8,037 8,037 H)2006-0720%Housin Set A5lde 06/20!06 .67,524 O en None - (I) 2006.07 Reimb. Agreement 06120/06 22,689 Open Nona - (J) 2006A7 Admin Indirect 06/20/06 10,429 Open None - (~ Sub Total, Ls Paga v $ 3,809,694 $ 1,010,796 0 orwar ed from All Olher Pages otal ThisPage ~~~ '~ " - ,~r~ $ 3,809,694 $ 1,010,796 Purpose of Indebtedness: (A) Redevelopment and operation costs (F) Opemtion Expenditures (8) 20% Housing Set Aside (G) Operation Expenditures (C) Fetle21 project portion closeout costs (H) 20°k Housing Set Aside (Per Sec 33334.2 of Ca Rsdev Law) (0) Laase of units at 175 Oceen Park Boulevard Series 1992 (I) Operating Expenditures (J) Operating Expanditures RECONCILIATION STATEMENT -CHANGES IN INDEBTEDNESS Page 1 of 2 Name of Agency Redevelopment Agency of the City of Santa Monica Name of Project Area California R 37!44 (Ocean Park) 1 B Tax Year: 2007-2008 Reconciliation Datos: Prom July 1, 2006 to June 30, 2007 A B C p E F ___.. _. bebt Identification: Oulslanding Debt Atljusiments Amounts Paid Against Remaining e and line: SOI a p All Beginning Increases Decreases Indebtedness, from: Balance , p g Prier Yr Curcent Yr Bne Description Indebtedness (attach explanation) (attach explanation) lax Increment Other Funds A+B-C-D-E) Pg t Line A Pg t Lino A Santa Monica Note #2• $ 585,692 $ 27,908 $ - $ - $ - $ 613,600 P9 NEW Line Pg 1 LIneB 2007-0820%HOUSing Set Aside 78,275 - 76.275 Pg 1 Llne C Pg 1 Line C Santa Monica Note #5* 73,545 3,500. - 77,049 P9 1 Line D Pg 1 Line D Rehab Off-Site Housing 680,779 16,128 - 664,651 Pg 1 Line E Pg 1 Line E OP Refunding Bonde - 2002 2,544,207 197,053 - 2,347,154 Pg NEW Llne Pg 1 Line F 2007-OB Reimb. Agreement 22,928 - - - 22,928 Pg t Pg i LIneG LinaH 2pgeA720%Set Aalde*` 67,524 27,987 - 95,491 - Pg 1 Pg 1 Line F Line I 2006-07 Reimb. A reemanC" 22,689 - 14,984 7,705 - TOTAL-THIS PAGE $ 3,974,436 $ 158,582 $ 14,984 $ 316,377 $ - $ 3,801,657 OTALS FORWARD GRAND TOTALS 10,429 $ 3,984,865 8,037 $ 166,619 - $ 14,984 10,429 $ 326,806 $ - 8,037 $ 3,809,694 RECONCILIATION STATEMENT - CWANGES IN INDEBTEDNESS Page 2 of 2 Name of Agency Redevelopment Agency of the City of Santa Monica Name of Project Area California R 37/44 (Ocean Park) 1 B Tax Year: 2007-2008 Reconciliation pates: From July 1, 2006 to June 30, 2007 A e C D E F Debt Identifies&on: Outstanding Debt Adjust ments Amounts Paid Against Remaining SOI, page a nd line: Brief All Beginning Increases Decreases Indebtedn ess, from: Balance Prior Yr Current Yr Description Indebtedness (attach explanation) (attach explanation) Tax Increment Other Funds (A+B•C-O-E) Pg NEW Pg 1 Line Line G 2007.08 Admin IndirecC' $ - $ 8,037 $ - $ - $ - $ 8,037 P9 7 Pg 1 Line G Line J 2006.07 Admin Indirect"" 10,429 10,429 Pg Pg Line Line 0 Pg Pg Line Line Pg Pg Line line Pg Pg Line Line Pg Pg Line Line Pg Pg Line Une TOTAL-THIS PAGE $ 10,429 $ 8,037 $ - $ 10,429 $ - $ 8,037 NOTE: This form is to reconcile the previous Statement of Indebtedness to the current one being flied. However, since the reconciliation is limited 4y lawto a July 7 -June 30 fiscal year period, only those items included on the SOI Form A is to be included on this document. To assist in following each item of indebtedness from one SOI to the next, use page and line number references from each SOI that the item of indebtedness is listed on. If the indebtedness is new to this fiscal year, enter "new" In the "Prior Yr" page and line columns. Column F musf equal the current SOl, Fonn A Total Outstanding Debt column. ' Adjustment reflects accrued interest for FY 2008.07 "Adjustment reflects Increase/decrease in estimate used on the previous SOI. Attachment D California Department of Housing and Community Development Redevelopment Agency Annual Housing Activity Report Fiscal Year Ending 06/30/2007 CALIFORNIA DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT REDEVELOPMENT AGENCY ANNUAL HOUSING ACTIVITY REPORT FY ENDING: June / 30 / 2007 Agency Name and Address: County of Jurisdiction: Santa Monica Redevelopment Agency Los Angeles 1685 Main Street, Room 212 Santa Monica CA 90401 Health & Safety.Code Section 33080.1 requires agencies (RDAs) to annually report on their Low & Moderate Income Housing Fund and housing activities for the Department of Housing and Community Development (HCD) to report on RDAs' actvities in accordance with Section 33080.6. Please answer each question below. Your answers de[emilne how to complete the HCD report. 1. Check one of the items below to identify the Agency's status at the end of the reporting period: ^ New (Agency formation occurred during reporting veaz. No financial transactions were completed). ^ Active (Financial and/or housing transactions occurred during the reporting year) ® Inactive (No financial and/or housing transactions occurred during the reporting veazl. ONLY COMPLETE ITEM 7 ^ Dismantled (Agency adopted an ordinance and dissolved itself before start of reporting year). ONLY COMPLETE ITEM 7 2. During reporting veaz, how many adopted project aeeas existed? 4 Ofthese, how many were merged during veaz? 0 Ifthe agency has one or more adopted nroiect aeeas complete SCHEDULE HCD-A for each proiect area. If the agency has no adopted proiect areas DO NOT complete SCHEDULE HCD-A (refer to neM auestionl. 3. Within an azea outside of any adopted project azea(s): (a) did the agency destroy or remove any dwelling units or displace any households over the reporting period, (b) does the agency intend to displace any households over the next reporting period, (c) did the agency permit the sale of any owner-occupied unit prior to the expiration of land use controls over the reporting period, and/or (d) did the agency execute a contract or agreement for the constmction of any affordable units over the next two years? 0 Yes (any question). Complete SCHEDULE HCD-B. ^ No (all questions). DO NOT complete SCHEDULE HCD-B (refer to next question). 4. Did the agency's Low & Moderate Income Housing Fund have any assets during the reporting period? ^.~ Yes. Complete SCHEDULE HCD-C. ^ No. DO NOT complete SCHEDULE HCD-C. 5. During the reporting period, were housing units completed within a proiect area and/or assisted by the agencv outside a project azea? ^~ Yes. Complete all applicable HCD SCHEDULES D I-D7 for each housing proieM completed and HCD SCHEDULE E. ^ No. DO NOT complete HCD SCHEDULES Dl-D7 or HCD SCHEDULE E. 6. Specify whether method Aand/or B was used to report financial and housing activity information to HCD: Q A. Forms. All requved HCD SCHEDULES A, B, C Dl-D7, and E aze attached. ^ B. On-line (http.~//www.hcdca.gov/rdaQ "Lock Report" date: HCD SCHEDULES not required. Qock date is shown under "Admin"Area and "Report Change History 7. To the best of my knowledge: (a) the representations made above and (b) agency information reported aze correct. Date Signature of Authorized Agency Representative Redevelopment Administrator Title (3101458-2232 Telephone Number • IFNOT REQUIRED TO REPORT, SUBMIT ONLYA PAPER COPYOF TH/S PAGE. • IFREQUIRED TO REPORT, AND REPORTING BY USING PAPER FORMS (INPLACE OFREPORTINC ON-LINE), SUBMIT THISPAGEANDALL APPLICABLE HCD FORMS (SCHEDULESA-E) WTTHA COPYOFAGENCY'SAUDTT. • IFREPORTING ON-LINE, PRINTAND SUBMIT"CONFIRMATIONLETTER"UPONLOCRINC REPORT • MAILACOPYOF(a)CONFIRMATIONLETTER(IFHCD REPORT WAS ELECTRONICALLYFILED)OR (b)COMPLETED FORMSAND (c) AUDIT REPORT TO BOTHHCD AND THE SCO: Department of Hpusing & Community Development Division of Housing Palicy Redevelopment Sectian 1800 3"r Street, Suite 430 Sacramento, CA 95814 Redevelopment Agency Annual Report- Fiscal Year 200fi-2007 Cover (7/1//07) The State Controller Division of Accounting and Reporting Local Government ReportingSeclion 3301 CStreet. Suite 500 Sacramento, CA 95816 HCD-Cover Page I of 1 SCHEDULE HCD-A Inside Project Area Activity for Fiscal Yeaz that Ended 06 / 30 / 2007 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Downtown Prepazer's Name, Title: Martin Kennerly, Admin. Svcs. Offcr. Prepazer's E-Mail Address: martin.kennerly@smgov.net Preparer's Telephone No: (310) 455-5757 Prepazer's Facsimile No: (310) 391-9996 GENERAL INFORMATION Project Area Information a. 1. Year 1" plan for project azea was adopted: t 976 2. Year that plan was last amended (if applicable): 2006 I~ 3. Was plan amended to extend time limits? No~ Yes a v i 4. If plan was extended, identify Secfion of Health and Safety Code applicable to extension: 33333.6(e)(2)(D) 5. Project Area Time Limits: (a) Expiration date of Redevelopment Plan: 01 / 13 / 2019 mo day yr (b) Expiration date to incur debt: elin5inated mo day yr (c) Expiration date to receive property tax revenue: 01 / 13 / 2029 mo day yr (d) Expiration date to start Eminent Domain: N/A / / mo day yr b. If project area name has changed, give previous name(s) or number: N/A a Year(s) of any mergers of the project area: N~~~ Identify former project areas d. Yeaz(s) project area plan was amended involving real property that either: (1) Added property to plan: N~,~ (2) Removed property from plan: 2. Affordable Housing Replacement and/or Inclusionary or Production Requirements (Section 33413). Pre-1976 oroiect azeas not subseouently amended after 1975: Pursuant to Section 33413(d), only Section 33413(a) replacement requirements apply to dwelling units destroyed or removed after 1995. The Agency can choose to apply all or part of Section 33413 to a project azea plan adopted before 1976. If the agency has elected to apply all or part of Section 33413, provide the date of the resolution and the applicable Section 33413 requirements addressed in the scope of the resoluton. N/A Date: Resolution Scope (applicable Section 33413 requirements): mo day yr Post-1975 project areas and eeoeraohic areas added by amendment after 1975 to ore-1976 nroiect areas: Both replacement and inclusionary or production requirements of Section 33413 apply. NOTE: Amounts to report on HCD-Alines 3a(1), 3b-3f, and 3i. can be taken from what is reported to the State Controller's Office (SCO) on the Statement of Income and Expenditures as part of the Redevelopment Agency's Financial Transactions Report, except for the reclassifying of Transfers-In from Internal Funds and the reporting of Other Sources as discussed below: Transfers-In from other internal funds: Report the amount of transferred funds on applicable HCD-A, lines 3a-j. For example, report the amount transferred from the Debt Service Fund to the Housing Fund for the deposit of the required set-aside percentage/amount by reporting gross tax increment on HCD-A, Line 3a(1) and report the Housing Fund's share of expenditures for debt service on HCD-C, Line 4c. Do not report "net" funds transferred from the Debt Service Fund on HCD-A, Line 3a(3) when reportin¢ debt service expenditures on HCD-C, Line 4c. Other Sources: Non-GAAP (Generally Acceptable Accounting Principles) revenues such as from land sales for those agencies using the Land Held for Resale method to record land sales should be reported on HCD-A Line 3d. Housing fund receipts for the repayment of loan principal should be included on HCD-A Line 3h. California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-A SchA(vlio7) rage 1 of6 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Downtown Project Area Housine Fund Revenues and Other Sources 3. Report all revenues and other sources of funds from this project area which accrued to the Housing Fund over the reporting yeaz. Any income related to agency-assisted housing located outside the project azea(s) should be reported as "Other Revenue" on Line 3j. (of this Schedule A), if this project area is named as beneficiary in the anthorizine resolution. Any other revenue sources not reported on lines 3a: 3i., should also be reported on Line 3j. Enter on Line 3a(1) the full 100% of gross Tax Increment allocated prior to applicable pass through of funds and deductions for fees (refer to Sections 33401, 33446, & 33676). Compute the required minimum percentage (%) of gross Tax Increment and enter the amount on Line 3a(2)(A) or 3a(2)(B). Next, report the amount of Tax Increment set-aside before any exemption and/or deferral (if amount set-aside is less than required minimum (%). explain the difference). If any amount of Tax Increment was exempted or deferred, in addition to comnletine lines 3a(4) and/or 3a(5), complete Line 4 and/or Line 5. To determine the amount of Tax Increment deposited to the Housing Fund [Line 3a(6)], subtract allowable amounts exempted [Line 3a(4)] or deferred [Line 3a(5)] from the actual amount allocated to the Housing Fund [Line 3a(3)]. a. Tax Increment: (1) 100%ofGross Allocation: $ 512,572 {2) Calculate only 1 set-aside amount: either A or below: (A) 20% required by 33334.2 (Line 3a(1) x 20%): $ 102,514 (B) 30%required by 33333.10(g) (Line 3a(1) x 30%): $ 0 (Senate Bi11211, Chapter 741, Statutes of 2001) (3) Amount ofset-aside (Line 3a(2)) allocated to Housing Fund $ 102,514 * If, pursuant to Section 33334.3(1), less than the minimum %ofGross Tax Increment (see 3a(2) above) is being allocated from this project azea, identify the project azea(s) contributing the difference. Explain any other reason(s): (4) Amount Exempted [Healh & Safety Code Section 33334.2] (if there is an amount exempted, also complete question #4, next page): ($ ) (5) Amount Deferred [Health & Safety Code Section 33334.6] (if there is an amount deferred, also complete question #5, next page): ($ ) (6) Total deposit to the Housing Fund [result of Line 3a(3) through 3a(5)]: $ 102,514 b. Interest Income: $ 32,260 c. Rental/Lease Income (combine amounts separately reported to the SCO): $ d. Sale of Real Estate: $ e. Grants (combine amounts separately reported to the SCO): $ £ Bond Administrative Fees: $ g. Deferzal Repayments (also complete Line Sc(Z) on the next page): $ h. Loan Repayments: $ i. Debt Proceeds: $ j. Other Revenue(s) [Explain and identify amount(s)]: k. Tota] Project Area Receipts Deposited to Housing Fund (add lines 3a(6). through 3j.): California Redevelopment Agencies -Fiscal Year 2006-2007 Sch A (7/1/07) $ 0 $ 134,774 HCD-A Page 2 of 6 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Downtown Exemation(sl 4. a. If an exemption was claimed on Page 2, Line 3a(4) to deposit less than the required amount, complete the following information and submit a conv of the required annual "findine" to the Denarhnent: N/A Check only one of the Health and Safety Code Sections below providing a basis for the exemption: ^ Section 33334.2(a)(1): No need m community to increase/improve supply of lower or moderate income housing. ^ Section33334.2(a)(2): Less than the minimum set-aside % (20% or 30%) is sufficient to meet the need. ^ Section 33334.2(a)(3): Community is making substantial effort equivalent in value to minimum set-aside % (20% or 30%) and has specific contractual obligations incurred before May 1, 1991 requiring continued use of this funding. Note: The Section 33334.2(a)(3) exempfioa expired on June 30,1993 (per subparagraph (C) of the same section). However, certain contracts entered into prior to t~'Iay 1,1991 may not be subject to the exemption sunset. ^ Other: Specify code section and reason(s): b. For any exemption claimed on Page 2, Line 3a(4) and/or Line 4a above, identify: N/A Date that initial 1'- fmdin was adopted: / / Resolution # Date sent to HCD: / / mo day yr mo day yr Adoption date of reportingyear findin¢: / / Resoluton # Date sent to HCD: / / mo day yr mo day yr Deferral s 5. a. Specify the authority for deferring any set-aside on Line 3a(5). Check only one Health and Safety Code Section boxes: ^ Section 33334.6(d): Applicable to project areas approved before 1986 in which the required resolution was sent to HCD before September 1986 regazding needing tax increment to meet existing obligations. Existing obligations can include those incurred after 1985, if net proceeds were used to refinance pre-1986 listed obligations. Note: The deferral previously authorized by Section 33334.6(e) expired. It was only allowable in each fiscal year prior to July 1,1996 with certain restrictions. ^ Other: Specify code Section and reason: N/A b. For any deferral claimed on Page 2, Line 3a(5) and/or Line Sa above, identify: N/A of Date that initial Is` fmdin was adopted: / / Resolution # Date sent to HCD: / / mo day yr mo day yr Adoption date of reportin¢ year findin¢: / / Resolution # Date sent to HCD: / / mo day yr mo day yr A deferred set-aside pursuant to Section 33334.6(d) constitutes indebtedness to the Housing Fund. Summarize the amount(s) set-aside det8rred over the reporting yeaz and cumulatively as of the end of the reporting year "The cumulative amount ojdejerred set-aside should also be shown on HCD-C, Line 8a. If the prior FY cumulative deferral shown above differs from what was reported on the last HCD report (HCD-A and HCD-C), indicate the amount of difference and the reason: Difference: $ Reason(s): California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-A Sch A (7/1/07) Page 3 of 6 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Downtown Deferrals (continued) 5. d. Section 33334.6(8) requires any agency which defers set-asides to adopt a plan to eliminate the deficit in subsequent years. If this agency has deferred set-asides, has it adopted such a plan? Yes ^ No ^ N/A If yes, by what date is the deficit to beeliminated? / / mo day yr If yes, when was the orjelnal plan adopted for the claimed deferral? / / mo day yr Identify Resolution # Date Resolution sent to HCD / / mo day yr When was the last amended plan adopted for the claimed deferral? / / mo day yr Identify Resolution # Date Resolution sent to HCD / / mo day yr Actual Project Area Households Displaced and Units and Bedrooms Lost Over Renortin2 Year: 6. a. Redevelopment Project Activity. Pursuant to Sections 33080.4(a)(1) and (a)(3), report by income category the number of elderly and nonelderly households permanently displaced and the number of units and bedrooms removed or destroyed, over the reoortine veaz, (refer to Section 33413 for unit and bedroom replacement requirements). N/A Numher of Hnusehnlds/tlnits/Bedrnnms Project Activity VL L M AM Total Households Permanently Displaced -Elderly Households Permanently Displaced -Non Elderly Households Permanently Displaced -Total Units Lost (Removed or Destroyed) and Required to be Replaced Bedrooms Lost (Removed or Destroyed) and Required to be Replaced Above Moderate Units Lost That Agency is Not Required to Replace Above Moderate Bedrooms Lost That Agency is Not Required to Replace b. Other Activity. Pursuant to Sections 33080.4(a)(1) and (a)(3) based on activities other than the destruction or removal of dwelline units and bedrooms reported on Line 6a report by income category the number of elderly and nonelderly households permanently displaced over the reportin¢ vear: N/A Nnmher of Hnnaehnldc Other Activity VL L M AM Total Households Permanently Displaced -Elderly Households Permanently Displaced -Non Elderly Households Permanently Displaced -Total c. As required in Section 33413.5, identify, overthe reporting yeaz, each replacement housing plan required to be adopted before the permanent displacement, destruction, and/or removal of dwelling units and bedrooms impacting the households reported on lines 6a. and 6b. N/A Date / / Name of Agency Custodian mo day yr Date / / Name of Agency Custodian mo day yr Please attach a sepazate sheet of paper listing any additional housing plans adopted. California Redevelopment Agencies-Fiscal Year 2006-2007 Sch A (7/1/07) HCD-A Page 4 of 6 Agency Name: Santa Monica Redevelopment Agency Estimated Proiect Area Households to be Permanently Displaced Over Current Fiscal Year: 7. a. As required in Section 33080.4(a)(2) for a redevelopment project of the agency, estimate, over the current fiscal year, the number of elderly and nonelderly households, by income category, expected to be permanently displaced. (Note: actual displacements will be reported for the next reporting year on Line 6). N/A Number of Households Project Activity VL L M AM Total Households Permanently Displaced -Elderly 0 Households Permanently Displaced -Non Elderly Households Permanently Displaced -Total b. As required in Section 33413.5, for the current fiscal year, identify each replacement housing plan required to be adopted before the permanent displacement, destruction, and/or removal of dwelling units and bedrooms impacting the households reported in 7a. Date / / mo day yr Date / / mo day yr Name of Agency Custodian Name of Agency Custodian Please attach a sepazate sheet of paper listing any additional housing plans adopted. Units Developed Inside the Proiect Area to Fulfill Requirements of Other Proiect Area(sl N/A 8. Pursuant to Section 33413(b)(2)(A)(v), agencies may choose one or more project areas to fulfill another project azea's requirement to constmct new or substantally rehabilitate dwelling units, provided the agency conducts a public heazing and finds, based on substantial evidence, that the aggregation of dwelling units in one or more project aeeas will not cause or exacerbate racial, ethnic, or economic segregation. Were any dwelling units in this project area developed to partially or completely satisfy another project azea's requirement to construct new or substantially rehabilitate dwelling units? ~/ No. Yes. Date inirial fording was adopted? / / Resolution # Date sent to HCD: / / mo day yr ~ mo day yr Number of llwellin Units Name of Other Project Area(s) VL L M Total 0 0 0 0 0 0 0 0 0 0 0 0 Project AreaName: Downtown California Redevelopment Agencies-Fiscal Year 2006-2007 HCD-A schA(7/t/o7) Page 5 of 6 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Downtown Sales of Owaer-Occupied Units Inside the Proiect Area Prior to the Exuirafion of Land Use Controls 9. b. Were reporting year funds spent to make units equal in affordability to units sold over the last three reporting years? N/A F Total LMIHF Spent On Equal Units Over Re ortin Year Number of Units SALES VL L M Total Units Made Equal This Reporting Yr to Units Sold Over This Reporting Yr 0 Units Made Equal This Reporting Yrto Units Sold One Reporting YrAgo 0 Units Made Equal This Reporting Yr to Units Sold Two Reporting Yrs Ago 0 Units Made Equal This Reporting Yr to Units Sold Three Reporting Yrs Ago p Affordable Units to be Constructed Inside the Proiect Area Within Two Years 10. Pursuant to Section 33080.4(a)(10), report the number of very tow, low, and moderate income units to be financed by any federal, state, local, or private source in order for construction to be completed within two years from the date of the aa~eement or contract executed over the reportine veaz. Identify the project and/or contractor, date of the executed agreement or contract, and estimated completion date. Specify the amount reported as an encumbrance on HCD-C, Line 6a. and/or any applicable amount designated on HCD-C, Line 7a. such as for capital outlay or budgeted funds intended to be encumbered for project use within two years from the reporting yeaz's agreement or contract date. - . DO NOT REPORT ANY UNITS ON THIS SCHEDULE A THAT ARE REPORTED ON OTHER HCD-As, B, OR Ds. Col A CoI B Col C Col D Col E Name of Agreement Estimated Sch C Amount Sch C Amount Project and/or Execution Completion Date Encumbered Designated Contractor Date w/in 2 r; of Col B Line 6a Line 7a VL L M Total 8 S 0 S S 0 $ $ 0 Please attach a separate sheet of paper to list additional information. F Total Proceeds From Sales Over Reporting Year Number of Units SALES VL L M Total Units Sold Over Reporting Year 0 Section 33413(c)(2)(A) specifies that pursuant to an adopted program, which includes but is not limited to an equiTy shazing program, agencies may permit the sale ofowner-occupied units prior to the expiration of the period of the land use controls established by the agency. Agencies must deposit sale proceeds into the Low and Moderate Income Housing Fund and within three (3) yeazs from the date the unit was sold, expend funds to make another unit equal in affordability, at the same income level, to the unit sold. a. Sales. Did the agency permit the sale of any owner-occupied units during the reporting year? N/A ^No ^Yes Equal Units. ^No ^Yes California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-A sch A(7n/o7) - Page6of6 SCHEDULE HCD-A Inside Project Area Activity for Fiscal Yeaz that Ended 06 / 30 / 2007 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Earthquake Freparer's Name, Title: Martin Kennedy, Admin. Svcs. Offcr. Preparer's E-Mail Address: martin.kennedy@smgov.net Prepazer'sTelephoneNo;(310)458-8757 Frepazer'sFacsimileNo:(310)391-9996 GENERAL INFORMATION Project Area Information a. 1. Yeaz In plan for project area was adopted: 1 gg4 2. Year that plan was last amended (if applicable): 2006 3. Was plan amended to extend time limits? No~ Yes 4. Ifplan was extended, identify Section of Health and Safety Code applicable to extension: 5. Project Area Time Limits: (a) Expiration date of Redevelopment Plan: 06 / 21 / 2027 mo day yr (b) Expiration date to incur debt: 06 / 21 / 2014 mo day yr (c) Expiration date to receive property tax revenue: 06 / 21 / 2042 mo day yr (d) Expiration date to start Eminent Domain: N/A / / mo day yr b. If project azea name has changed, give previous name(s) or c. Year(s) of any mergers of the project area: Identify former project areas d. Yeaz(s) project azea plan was amended involving real property that either: (1) Added property to plan: (2) Removed property from plan: 33333.6(e)(2)(D) 2. Affordable Housing Replacement and/or Inclusionary or Production Requirements (Section 33413). Pre-1976 nroiect azeas not subsequently amended after 1975: Pursuant to Section 33413(d), only Section 33413(a) replacement requirements apply to dwelling units destroyed or removed after 1995. The Agency can choose to apply all or part of Section 33413 to a project azea plan adopted before 1976. If the agency has elected to apply all or part of Section 33413, provide the date of the resolution and the applicable Section 33413 requirements addressed in the scope of the resolution. N/A Date: / / mo day yr Resolution Scope (applicable Section 33413 requirements): Post-1975 nroiect azeas and eeoaranhic areas added by amendment after 1975 to pre-1976 nroiect areas: Both replacement and inclusionary or production requirements of Section 33413 apply. NOTE: Amounts to report on HCD-Alines 3a(1), 36-3f, and 3i. can betaken from what is reported to the State Controller's Office (SCO) on the Statement of Income and Expenditures as part of the Redevelopment Agency's Financial Transactions Report, except for the reclassifying ofTransfers-In from Internal Funds and the reporting of Other Sources as discussed below: Transfers-In from other internal funds: Report the amount of transferred funds-onapplicable HCD-A, lines 3a-j. For example, report the amount transferred from the Debt Service Fund to the Housing Fund for the deposit of the required set-aside percentage/amount by reporting gross tax increment on HCD-A, Line 3a(I) aad report the Housing Fund's share of expenditures for debt service on HCD-C, Line 4c. Do not report "net" funds transferred from the Debt Service Fund on HCD-A. Line 3a(31 when reuortinQ debt service expenditures on HCD-C. Line 4c. Other Source's: Non-GAAP (Generally Acceptable Accounting Principles) revenues such as from land sales for those agencies using the Land Held for Resale method to record land sales should be reported on HCD-A Line 3d. Housing fund receipts for the repayment of loan principal should be included on HCD-A Line 3h. Caii£omia Redevelopment Agencies-Fiscal Year 2006-2007 HCD-A SchA(7/1/07) Page 1 of6 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Earthquake Proiect Area Housing Fund Revenues and Other Sources 3. Report all revenues and other sources of funds from this project azea which accmed to the Housing Fund over the reporting year. Any income related to agency-assisted housing located outside the project azea(s) should be reported as "Other Revenue" on Line 3j. (of this Schedule A), if this project azea is named as beneficiary in the authorizing resolution. Any other revenue sources not reported on lines 3a: 3i., should also be reported on Line 3j. Enter on Line 3a(1) the full 100% of gross Tax Increment allocated prior to applicable pass through of funds and deductions for fees (refer to Sections 33401, 33446, & 33676). Compute the required minimum percentage (%) of gross Tax Increment and enter the amount on Line 3a(2)(A) or 3a(2)(B). Next, report the amount of Tax Increment set-aside before any exemption and/or deferral (if amount set-aside is less than required minimum (%), explain the difference). If any amount of Tax Increment was exempted or deferred, in addition to completing lines 3a(4) and/or 3a(5), complete Line 4 and/or Line 5. To determine the amount of Tax Increment deposited to the Housing Fund [Line 3a(6)], subtract allowable amounts exempted [Line 3a(4)] or deferred [Line 3a(5)] from the actual amount allocated to the Housing Fund [Line 3a(3)]. a. Tax Increment: (1) 100%ofGross Allocation: $ 53,995,445 (2) Calculate only 1 set-aside amount: either A or below: (A) 20%required by 33334.2 (Line 3a(1) x 20%): $ 10 799,089 (B) 30%required by 33333.10(g) (Line 3a(1) x 30%): $ 0 (Senate Bi11211, Chapter 741, Statutes of 2001) (3) Amount ofset-aside (Line 3a(2)) allocated to Housing Fund $ 10,799,089 * If, pursuant to Section 33334.3(1), less than the minimum %ofGross Tax Increment (see 3a(2) above) is being allocated from this project azea, identify 'the project area(s) contributing the difference. Explain any other reason(s): (4) Amount Exempted [Health & Safety Code Section 33334.2] (if there is an amount exempted, also complete question #4, next page): ($ ) (5) Amount Deferred [I-Iealth & Safety Code Section 33334.6] (ifthere is an amount deferred, also complete question #5, next page): ($ ) (6) Total deposit to the Housing Fund [result of Line 3a(3) through 3a(5)]: $ 10,799,089 b. Interest Income: $ 744,475 c. Rental/Lease Income (combine amounts separately reported to the SCO): $ d. Sale of Real Estate: ~ $ e. Grants (combine amounts separately reported to the SCO): $ f. Bond Administrative Fees: $ g. Deferral Repayments (also complete Line Sc(2) on the next page): $ h. Loan Repayments: $ i. Debt Proceeds: $ j. Other Revenue(s) [Explain and identify amount(s)]: $ $ 0 k. Total Project Area Receipts Deposited to Housing Fund (add lines 3a(6). tluough 3j.): $ 11,543,564 California Redevelopmen[Agencies-Fiscal Year 2006-2007 HCD-A sch A (7n/o71 Page 2 of 6 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Earthquake Exempfion(sl 4. a. If an exemption was claimed on Page Z, Line 3a(4) to deposit less than the required amount, complete the following information and submit a cove of the reauired annual "finding" to the Devartment: N/A Check only one of the Health and Safety Code Sections below providing a basis for the exemption: ^ Section 33334.2(a)(1): No need in community to increase/improve supply of lower or moderate income housing. ^ Section 33334.2(a)(2): Less than the minimum set-aside % (20% or 30%) is sufficient to meet the need. ^ Section 33334.2(a)(3): Community is making substantial effort equivalent in value to minimum set-aside % (20% or 30%) and has specific contractual obligations intoned before May 1, 1991 requiring continued use of this funding. Note: The Section 33334.2(a)(3) exemption expired on June 30,1993 (per subparagraph (C) of the same section). However, certain contracts entered into prior to May 1,1991 may not be subject to the exemption sunset. ^ O[her: Specify code section and reason(s): b. For any exemption claimed on Page 2, Line 3a(4) and/or Line 4a above, identify: N/A Date that initial 1 findin was adopted: / / Resolution # Date sent to HCD: / / mo day yr mo day yr Adoption date of reportin year finding: / / Resolution # Date sent to HCD: / / mo day yr mo day yr Deferral(s) 5. a. Specify the authority for deferring any set-aside on Line 3a(5). Check only one Health and Safety Code Section boxes: ^ Section 33334.6(d): Applicable to project azeas approved before 1986 in which the required resolution was sent to HCD before September 1986 regarding needing tax increment to meet existing obligations. Existing obligations can include those incurred after 1985, if net proceeds were used to refinance pre-1986 listed obligations. Note: The deferral previously authorized by Section 33334.6(e) expired. It was only allowable in each £>scal year prior to July 1,1996 with certain restrictions. ^ Other: Specify code Section and reason: N/A b. For any deferral.claimed on Page 2, Line 3a(5) and/or Line Sa above, identify: NIA Date that initial 1~` findin was adopted: / / Resolution # Date sent to HCD: / / mo day yr mo day yr Adoption date of reverting year finding: / / Resolution # Date sent to HCD: / / mo day yr mo day yr c. A deferred set-aside pursuant to Section 33334.6(d) constitutes indebtedness to the Housing Fund. Summazize the amount(s) of set-astae aeierrea over me reporting yeaz ana cummanvery as or me ena or me reponmg yeaz "The cumulative amount ofdeferredset--aside should also be shown on HCD-C, Line 8a. If the prior FY cumulative deferral shown above differs from what was reported on the last HCD report (HCD-A and HCD-C), indicate the amount of difference and the reason: Difference: $ Reason(s): California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-A Sch A(vuo7) Page 3 of 6 Agency Name: Santa Monica Redevelopment Agency Deferral(sl (continued) Project Area Name: Earthquake d. Section 33334.6(g) requires any agency which defers set-asides to adopt a plan to eliminate the deficit in subsequent years. If this agency has deferred set-asides, has it adopted such a plan? Yes ^ No ^ N/A If yes, by what date is the deficit to be eliminated? If yes, when was the orieina] plan adopted for the claimed deferral? Identfy Resolution # Date Resolution sent to HCD When was the last amended plan adopted for the claimed deferral? Identify Resolution # Date Resolution sent to HCD mo day yr / /_ mo day yr / / mo day yr / / mo day yr / / mo day yr Actual Project Area Households Displaced and Units and Bedrooms Lost Over Reporting Year: 6. a. Redevelopment Project Activity. Pursuant to Sectons 33080.4(a)(1) and (a)(3), report by income category the number of elderly and nonelderly households permanently displaced and the number of units and bedrooms removed or destroyed, over the reporting veaz, (refer to Secfion 33413 for unit and bedroom replacement requirements). N/A Number of Households/UnitsBedrooms Project Activity VL L M AM Total Households Permanently Displaced -Elderly Households Permanently Displaced -Non Elderly Households Permanently Displaced -Total Units Lost (Removed or Destroyed) and Required to be Replaced Bedrooms Lost (Removed or Destroyed) and Required to be Replaced Above Moderate Units Lost That Agency is Not Requiredto Replace Above Moderate Bedrooms Lost That Agency is Not Required to Replace b. Other Activity. Pursuant to Sections 33080.4(a)(1) and (a)(3) based on activities other than the destruction or removal of dwelling units and bedrooms reported on Line 6a, report by income category the number of elderly and nonelderly households permanently displaced over the reporting veaz: N/A Number of Households Other Activity VL L M AM Total Households Permanently Displaced -Elderly Households Permanently Displaced -Non Elderly Households Permanently Displaced -Total c. As required in Section 33413.5, identify, over the reporting veaz, each replacement housing plan required to be adopted before the permanent displacement, destmction, and/or removal of dwelling units and bedrooms impacting the households reported on lines 6a. and 6b. N/A Date / / mo day yr Date / / mo day yr Name of Agency Custodian Name of Agency Custodian Please attach a separate sheet of paper listing any additional housing plans adopted. California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-A sch A (7nro7) Page 4 of 6 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Earthquake Estimated Proiect Area Households to be Permanently Displaced Over Current Fiscal Year: 7. a. As required in Section 33080.4(a)(2) for a redevelopment project of the agency, estimate, over the current fiscal vear, the number of elderly and nonelderly households, by income category, expected to be permanently displaced. (Note: actual displacements will be reported for the next reporting year on Line 6). N/A Number of Households Project Activity VL L M AM Total Households Permanently Displaced -Elderly p Households Permanently Displaced -Non Elderly Households Permanently Displaced -Total b. As required in Section 33413.5, for the current fiscal year, identify each replacement housing plan required to be adopted before the permanent displacement, destruction, and/or removal of dwelling units and bedrooms impacting the households reported in 7a. Date mo Date mo day yr day yr Please attach a sepazate sheet of paper listing any additional housing plans adopted. Name of Agency Custodian Name of Agency Custodian Units Developed Inside the Proiect Area to Fulfill Requirements of Other Proiect Area(sl N/A 8. Pursuant to Section 33413(b)(2)(A)(v), agencies may choose one or more project azeas to fulfill another project azea's requirement to constmct new or substantially rehabilitate dwelling units, provided the agency conducts a public heazing and finds, based on substantial evidence, that the aggregation of dwelling units in one or more project azeas will not cause or exacerbate racial, ethnic, or economic segegation. Were any dwelling units in this project area developed to partially or completely satisfy another project azea's requirement to construct new or substantially rehabilitate dwelling units? ^/ No. Yes. Date inirial finding was adopted? / / Resolution # Date sent to HCD: / / mo day yr mo day yr Number of Dwelling Units Name of Other Project Area(s) VL L M Total 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Catifomia Redevelopment Agencies -Fiscal Year 2006-2007 HCD-A sch A (~n/m) Page 5 of 6 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Earthquake Sales of Owner-Occupied Units Inside the Project Area Prior to the Exuiration of Land Use Controls 9. Section 33413(c)(2)(A) specifies that pursuant to an adopted program, which includes but is not limited to an equity sharing program, agencies may permit the sale ofowner-occupied units prior to the expiration of the period of the Ladd use controls established by the agency. Agencies must deposit sale proceeds into the Low and Moderate Income Housing Fund and within three (3) years from the date the unit was sold, expend funds to make another unit equal in affordability, at the same income level, to the unit sold. a. Sales. Did the agency permit the sale of any owner-occupied units during the reporting yeaz? N/A ^No ^Yes E- Total Proceeds From Sales Over Reporting Year Number of Units SALES VL L M Total Units Sold Over Reporting Year 0 b. Were reporting yeaz funds spent to make units equal in affordability to units sold over the last three reporting years? N/A <- Total LMIHF Spent On Equal Units Over Re ortin Year Number of Units SALES VL L M Total Units Made Equal This Reporting Yr to Units Sold Over This Reporting Yr 0 Units Made Equal This Reporting Yr to Units Sold One Reporting Yr Ago 0 Units Made Equal This Reporting Yr to Units Sold Two Reporting Yrs Ago 0 Units Made Equal This Reporting Yr to Units Sold Three Reporting Yrs Ago p Affordable Units to be Constructed Inside the Proiect Area Within Two Years 10. Pursuant to Section 33080.4(a)(10), report the number of very low, low, and moderate income units to be financed by any federal, state, local, or private source in order for construction to be completed within two veazs from the date of the aereement or contract executed over the reporting veaz. Identify the project and/or contractor, date of the executed agreement or contract, and estimated completion date. Specify the amount reported as an encumbrance on HCD-C, Line 6a. and/or any applicable amount designated on HCD-C, Line 7a. such as for capital outlay or budgeted funds intended to be encumbered for project use within two years from the reporting year's agreement or contract date. - DO NOT REPORT ANY UNITS ON THIS SCHEDULE A THAT ARE REPORTED ON OTHER HCD-As, B, OR Ds. Col A Col B Col C Col D Col E Name of Agreement Estimated Sch C Amount Sch C Amount Project and/or Execution Completion Date Encumbered Designated Contractor Date w/in 2 rs of Col B Line 6a Line 7a VL L M Total S S 0 S S 0 S S 0 Please attach a sepazate sheet of paper to list additional informafion. See Attached Eaual Units. ^No ^Yes Califortua Redevelopment Agencies -Fiscal Yeaz 2006-2007 HCD-A sch A (7n/o7) Page 6 of 6 Attachment to Schedule A - Earthquake Recove Affordable Units to be Constructed Inside the Project Area Within Two Years 10. Pursuant to Section 33080.4(a)(10), report the number of very low, low, and moderate income units to be financed by any federal, state, local, or private source in order for conshvction to be completed within two years from the date of the ageement or contract executed over the reportine veaz. Identify the project and/or contractor, date of the executed ageement or contract, and estimated completion date. Specify the amount reported as an encumbrance on HCD-C, Line 6a. and/or any applicable amount designated on HCD-C, Line 7a. such as for capital outlay or budgeted funds intended to be encumbered for project use within two yeazs from the reporting year's ageement or contract date. Cot A Col B Col C Col D Col E Name of Agreement Estimated Schedule C Schedule C Project and/or Execution Completion Amount Amount VL L M Total Contractor Date Date Encumbered ' besignated (wrn z yrs er cm s> (Line 6a) (Line 7a) New Construction (Agency Assisted) 1548 5"' Street 12/17/2004 2009 1,358,904 44 2 46 1458 14th Street 6/19/2006 2009 1,811,369 14 5 19 018 19l" Street 10/24/2002 2009 0 5 5 (Non-Agency Assisted) 1420 5'" Street 2009 4 4 1442 5'h Street 2009 4 4 1244 6'" Street 2009 5 5 954 15'" Street 2009 1 1 1751 Appian Way 2009 3 3 06 Broadway 2009 4 4 1906 Broadway 2009 3 3 07 Wilshire Blvd. 2009 4 4 Rehabilitation (Agency Assisted) 1944 20`" Street 6/15!2006 2008 1,025,789 4 4 8 TOTALS: 92 1a 5 106 California Redevelopment Agencies -Fiscal Yeaz 2006-07 HCD-A Sch A (7/1/06) Earthquake Recovery -Attachment SCHEDULE HCD-A Inside Project Area Activity for Fiscal Yeaz that Ended 06 / 30 / 2007 Agency Name: Santa Monica Redevelopment Agency project Area Name: Ocean Park 1A Prepazer's Name, Title: Martin Kennedy, Admin. Svcs. Offcr. Prepazer's E-Mail Address: martin.kennerly@smgov.net Preparer's Telephone No: (310) 458-8757 Prepazer's Facsimile No: (310) 391-9996 - GENERAL INFORMATION 1. Project Area Information a. 1. Yeaz In plan for project azea was adopted: 1960 2. Yeaz that plan was last amended (if applicable): 2006 1~ 3. Was plan amended to extend time limits? No~ Yes a r ~ 4. If plan was extended, identify Section of Health and Safety Code applicable to extension: 5. Project Area Time Limits: (a) Expiration date of Redevelopment Plan: 01 / 01 / 2012 mo day yr (b) Expiration date to incur debt: 01 / 01 / 2004 mo day yr (c) Expiration date to receive property tax revenue: 01 / 01 / 2022 mo day yr (d) Expiration date to start Eminent Domain: N!A / / mo day yr b. If project azea name has changed, give previous name(s) or number: N/A a Yeaz(s) of any mergers of the project azea: N_ (~~~ Identify former project areas that merged: d. Yeaz(s) project azea plan was amended involving real property that either: (1) Added property to plan: N~~ , (2) Removed property from plan: ~~~ 33333.6(e)(2)(D) 2. Affordable Housing Replacement and/or Inclusionary or Production Requirements (Section 33413). Pre-1976 nroiect azeas not subsequently amended after 1975: Pursuant to Section 33413(d), only Section 33413(a) replacement requirements apply to dwelling units destroyed or removed after 1995. The Agency can choose to apply all or part of Section 33413 to a project azea plan adopted before 1976. If the agency has elected to apply all or part of Section 33413, provide the date of the resolution and the applicable Section 33413 requirements addressed in the scope of the resolution. N/A Date: / / mo day yr Resolution Scope (applicable Sec[ion 33413 requirements): Post-1975 nroiect azeas and eeoeraphic azeas added by amendment after 1975 to pre-1976 project areas: Both replacement and inclusionary or production requirements of Section 33413 apply. NOTE: Amounts to report on HCD-A lines 3a(1), 3b-3f, and 3i, can be taken from what is reported to the State Controller's Office (SCO) on the Statement of Income and Expenditures as part of the Redevelopment Agency's Financial Transactions Report, except for the reclassifying of Transfers-Ia from Internal Funds and the reporting of Other Sources as discussed below: Transfers-In from other internal funds: Report the amount of transferred funds on applicable HCD-A, lines 3a-j. For example, report the amount transferred from the Debt Service Fund to the Housing Fund for the deposit of the required set-aside percentage/amount by reporting gross tax increment on HCD-A, Line 3a(1) and report the Housing Fund's share of expenditures for debt service on HCD-C, Line 4c. Do not report "net" funds transferred from the Debt Service Fund on HCD-A, Line 3a(31 when reportine debt service expenditures on HCD-C. Line 4c. Other Sources: Non-GAAP (Generally Acceptable Accounting Principles). revenues such as from land sales for those agencies using the Land Held for Resale method to record land sales should be reported on HCD-A Line 3d. Housing fund receipts for the repayment of loan principal should be included on HCD-A Line 3h. California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-A SchA (7/1/07) rage 1 of 6 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Ocean Park 1A Proiect Area Housing Fund Revenues and Other Sources 3. Report all revenues and other sources of funds from this project azea which accrued to the Housing Fund over the reporting year. Any income related to agency-assisted housing located outside the project azea(s) should be reported as "Other Revenue" on Line 3j. (of this Schedule A), if this proiect azea is named as beneficiary in the authorizing resolution. Any other revenue sources not reported on lines 3a.-3i, should also be reported on Line 3j. Enter on Line 3a(1) the full 100% of gross Tax Increment allocated prior to applicable Hass through of funds and deductions for fees (refer to Sections 33401, 33446, & 33676). Compute the required minimum percentage (%) of gross Tax Increment and enter the amount on Line 3a(2)(A) or 3a(2)(B). Next, report the amount of Tax Increment set-aside before any exemption and/or deferral (if amount set-aside is less than reauired minimum (%l, explain the difference). If any amount of Tax Increment was exempted or deferred, in addition to completing lines 3a(41 and/or 3a(5), complete Line 4 and/or Line 5. To determine the amount of Tax Increment deposited to the Housing Fund [Line 3a(6)], subtract allowable amounts exempted [Line 3a(4)] or deferred [Line 3a(5)] from the actual amount allocated to the Housing Fund [Line 3a(3)]. a. Tax Increment: (1) 100%ofGross Allocation: $ 3,164,553 (2) Calculate only 1 set-aside amount: either A or B below: (A) 20%requiredby 33334.2 (Line3a(1)x20%): $ 632,911 (B) 30%requiredby 33333.10(8) (Line 3a(1) x 30%): $ (Senate Bi11211, Chapter 741, Statutes of 2001) (3) Amount of set-aside (Line 3a(2)) allocated to Housing Fund $ 632,911 ~' * If, pursuant to Section 33334.3(1), less than the minimum %ofGross Tax Increment (see 3a(2) above) is being allocated from this project azea, identify the project azea(s) contributing the difference. Explain any other reason(s): (4) Amount Exempted [Health & Safety Code Section 33334.2] (if there is an amount exempted, also complete question #4, next page): ($ ) (5) Amount Deferred [Health & Safety Code Section 33334.6] (if there is an amount deferred, also complete question #5, next page): ($ - ) (6) Total deposit to the Housing Fund [result of Line 3a(3) through 3a(5)]: $ 632,911 b. Interest Income: $ 33,489 a Rental/L,ease Income (combine amounts separately reported to the SCO): $ d. Sale of Real Estate: $ e. Grants (combine amounts separately reported to the SCO): $ f. Bond Administrative Fees: $ g. Deferral Repayments (also complete Line Sc(2) on the next page): $ h. Loan Repayments: $ i. Debt Proceeds: $ j. Other Revenue(s) [Explain and identify amount(s)]: $ $ 0 k. Total Project Area Receipts Deposited to Housing Fund (add lines 3a(6). through 3j.): $ 666,400 California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-A SchA (7/1/07) <+ Housing set aside excludes $ 13,758 payment made in July 2007 for Page 2 of 6 payment made in July 2007 for 2005/06 not accrued on FY 2005/06 financial statement but was included on Schedule A of FY 2005/06 Report to HCD. Agency Name: Santa Monica Redevelopment Agency Project Area Name: Ocean Park lA Exemufion(sl 4. a. If an exemption was claimed on Page 2, Line 3a(4) to deposit less than the requved amount, complete the following information and submit a conv of the reauired annual "findine" to the Department: N/A Check only one of the Health and Safety Code Sections below providing a basis forthe exemption: ^ Sec[ion 33334.2(a)(1): No need in community to increase/improve supply of lower or moderate income housing. ^ Section 33334.2(a)(2): Less than the minimum set-aside % (20% or 30%) is sufficient to meet the need. ^ Section 33334.2(a)(3): Community is making substantial effort equivalent in value to minimum set-aside % (20% or 30%) and has specific contractual obligations incurred before May I, 1991 requiring continued use of this funding. Note: The Section 33334.2(a)(3) exemption expired on June 30,1993 (per subparagraph (C) of the same section). However, certain contracts entered into prior to May 1,1991 may not be subject to the exemption sunset. ^ Other: Specify code section and reason(s): b. For any exemption claimed on Page 2, Line 3a(4) and/or Line 4a above, identify: N/A Date that initial 1" findin was adopted: / / Resolution # Date sent to HCD: / / mo day yr mo day yr Adoption date of reporting year fmdine: / / Resolution # Date sent to HCD: / / mo day yr mo day yr Deferral s 5. a. Specify the authority for deferring any set-aside on Line 3a(5). Check only one Health and Safety Code Section boxes: ^ Section 33334.6(d): Applicable to project azeas approved before 1986 in which the required resolution was sent to HCD before September 1986 regarding needing tax increment to meet existing obligations. Existing obligations can include those incurred after 1985, if net proceeds were used to refinance pre-1986 listed obligations. Note: The deferral previously authorized by Section 33334.6(e) expired. It was only allowable in each fiscal year prior to July 1,1996 with certain restrictions. ^ Other: Specify code Section and reason: N/A b. For any deferral claimed on Page 2, Line 3a(5) and/or Line Sa above, identify: N/A Date that initial 1--`) fmding was adopted: / / Resolution # Date sent to HCD: / / mo day yr mo day yr Adoption date of reportin¢ vear finding: / / Resolution # Date sent to HCD: / / mo day yr mo day yr c. A deferred set-aside pursuant to Section 33334.6(d) constitutes indebtedness to the HousingFund. Summarize the amount(s) of set-aside deferred over the reporting yeaz and cumulafively as of the end of the reporting year: * The rumulnlive mm~unt nfdeferred set-aside should alm he Shawn an HCD-C. Line Ra. If the prior FY cumulative deferral shown above differs from what was reported on the last HCD report (HCD-A and HCD-C), indicate the amount of difference and the reason: Difference: $ Reason(s): California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-A Seh A (vtlo7> Page 3 of 6 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Ocean Park 1A Deferral(sl (continued) 5. d. Section 33334.6(g) requires any agency which defers set-asides to adopt a plan to eliminate the deficit in subsequent years. If this agency has defersed wt-asides, has it adopted such a plan? Yes ^ No^ N/A If yes, by what date is the deficit to be eliminated? If yes, when was the original plan adopted for the claimed deferral? Identify Resolution # Date Resolution sent to HCD When was the last amended plan adopted for the claimed deferral? Identify Resolution # Date Resolution sent to HCD mo day yr mo day yr / / mo day yr / / mo day yr / / mo day yr Actual Project Area Households Displaced and Units and Bedrooms Lost Over ReportinH Year: 6. a. Redevelopment Project Activity. Pursuant to Secflons 33080.4(a)(1) and (a)(3), report by income category the number of elderly and nonelderly households permanently displaced and the number of units and bedrooms removed or destroyed, over the reportine veaz, (refer to Section 33413 for unit and bedroom replacement requirements). N/A Number of Households/Units/Bedrooms Project Activity VL L M AM Total Households Permanently Displaced -Elderly Households Permanently Displaced -Non Elderly Households Permanently Displaced -Total Units Lost (Removed or Destroyed) and Required to be Replaced Bedrooms Lost (Removed or Destroyed) and Required to be Replaced Above Moderate Units Lost That Agency is Not Required to Replace Above Moderate Bedrooms Lost That Agency is Not Required to Replace b. Other Acfivity. Pursuant to Sections 33080.4(a)(1) and (a)(3) based on activities other than the destruction or removal of dwelline units and bedrooms reported on Line 6a, report by income category the number of elderly and nonelderly households permanently displaced over the reportine year: N/A Number of Households Other Activity VL L M AM Total Households Permanently Displaced -Elderly Households Penmanently Displaced -Non Elderly Households Permanently Displaced -Total c. As required in Section 33413.5, identify, over the reporting veaz, each replacement housing plan required to be adopted before the permanent displacement, destruction, and/or removal of dwelling units and bedrooms impacting the households reported on lines 6a. and 6b. NIA Date / / mo day yr Date / / mo day yr Name of Agency Custodian Name of Agency Custodian Please attach a sepazate sheet of paper listing any additional housing plans adopted. California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-A ScU A (v1io~> Page 4 of 6 Agency Name: Santa Monica Redevelopment Agency Project AreaName:Ocean Park 1A Estimated Proiect Area Households to be Permanently Displaced Over Current Fiscal Year: 7. a. As required in Section 33080.4(a)(2) for a redevelopment project of the agency, estimate, over the current fiscal year, the number of elderly and nonelderly households, by income category, expected to be permanently displaced. (Note: actual displacements will be reported for the next reporting yeaz on Line 6). N/A Number of Households Project Activity VL L M AM Total Households Permanently Displaced -Elderly 0 Households Permanently Displaced -Non Elderly Households Permanently Displaced -Total b. As required in Section 33413.5, for the current fiscal year, identify each replacement housing plan required to be adopted before the permanent displacement, destruction, and/or removal of dwelling units and bedrooms impacting the households reported in 7a. Date mo day yr Date / / ma day yr Name of Agency Custodian Name of Agency Custodian Please attach a separate sheet of paper listing any additional housing plans adopted. Units Developed Inside the Proiect Area to Ftilfill Requirements of Other Proiect Area(sl N/A 8. Pursuarrt to Section 33413(b)(2)(A)(v), agencies may choose one or more project areas to fulfill another project azea's requirement to construct new or substantially rehabilitate dwelling units, provided the agency conducts a public heazing and finds, based on substantial evidence, that the aggregation of dwelling units in one or more project areas will not cause or exacerbate racial, ethnic, or economic segregation. Were any dwelling units in this project azea developed to partially or completely satisfy another project azea's requirement to construct new or substantially rehabilitate dwelling units? ^/ No. Yes. Date initial finding was adopted? / / Resolution # Date sent to HCD:_/ / mo day yr mo day yr Name California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-A Sch A (7/i/o7) Page 5 of 6 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Ocean Park 1A Sales ofOwner-Occupied Units Inside the Project Area Prior to the Expiration of Land Use Controls 9. Section 33413(c)(2)(A) specifies that pursuant to an adopted program, which includes but is not limited to an equity sharing progam, agencies may permit the sale ofowner-occupied units prior to the expiration of the period of the land use controls established by the agency. Agencies must deposit sale proceeds into the Low and Moderate Income Housing Fund and within three (3) years from the date the unit was sold, expend funds to make another unit equal in affordability, at the same income level, to the unit sold. a. Sales. Did the agency permit the sale of any owner-occupied units during the reporting yeaz? N/A ^No ^Yes F- Total Proceeds From Sales Over Reporting Year Number of Units SALES VL L M Total Units Sold Over Reporting Year 0 b. Were reporting year funds spent to make units equal in affordability to units sold over the last three reporting years? N/A F Total LMIHF Spent On Equal Units Over Re ortin Year Number of Units SALES VL L M Total Units Made Equal This Reporting Yr to Units Sold Over This Reporting Yr 0 Units Made Equal This Reporting Yr to Units Sold One Reporting Yr Ago 0 Units Made Equal This Reporting Yr to Units Sold Two Reporting Yrs Ago 0 Units Made Equal This Reporting Yr to Units Sold Three Reporting Yrs Ago 0 Affordable Units to be Constructed Inside the Project Area Within Two Years 10. Pursuant to Section 33080.4(a)(10), report the number of very low, low, and moderate income units to be financed by any federal, state, local, or private source in order for construction to be completed within two veazs from the date of the agreement or contract executed over the reporting vear. Identify the project and/or contractor, date of the executed agreement or contract, and estimated completion date. Specify the amount reported as an encumbrance on HCD-C, Line 6a. and/or any applicable amount designated on HCD-C, Line 7a. such as for capital outlay or budgeted funds intended to be encumbered for project use within two years from the reporting yeaz's agreement or contract date. - DO NOT REPORT ANY UNITS ON THIS SCHEDULE A THAT ARE REPORTED ON OTHER HCD-As, B, OR Ds. Col A Col B Col C Col D -Col E Name of Agreement Estimated Sch C Amount Sch C Amount Project and/or Execution Completion Date Encumbered Designated Contractor Date w/in 2 rs of Col B Line 6a Line 7a VL L M Total $ $ 0 $ $ 0 S S 0 Please attach a sepazate sheet of paper to list additional information. Equal Units. ^No ^Yes California Redevelopment Agencies -Fiscal Year 200fi-2007 HCD-A sch A (7/t/o7) Page 6 of 6 SCHEDULE HCD-A Inside Project Area Activity for FiscalYeazthatEnded 06 / 30 / 2007 AgencyNamei Santa Monica Redevelopment Agency projectAreaName:Ocean Park 1B Prepazer's Name, Title: Martin Kennedy, Admin. Svcs. Offcr. Preparer's E-Mail Address: martin.kennerly@smgov_net Freparer'sTelephoneNo:(310)458-8757 Prepazer'sFacsimileNo:(310)391-9996 1. mo day yr (b) Expiration date to incur debt: 01 / 01 / 2004 mo day yr (c) Expiration date to receive property tax revenue: 01 / 01 / 2022 mo day yr (d) Expiration date to start Eminent Domain: N/A / / mo day yr b. Ifprojectazea name has changed, give previous name(s) or number: N/A c. Year(s) of any mergers of the project azea: NIA ,~~ Identify former project areas that d. Year(s) project area plan was amended involving real property that either: (I) Added property to plan: (2) Removed property from plan: N~~~ 33333.6(e)(2)(D) 2. Affordable Housing Replacement and/or Inclusionary or Production Requirements (Section 33413). Pre-1976 project aeeas not subsequently amended after 1975: Pursuant to Section 33413(d), only Section 33413(a) replacement requirements apply to dwelling units destroyed or removed after 1995. The Agency can choose to apply all or part of Section 33413 to a project azea plan adopted before 1976. If the agency has elected to apply all or part of Section 33413, provide the date of the resolution and the applicable Section 33413 requirements addressed in the scope of the resolution. N/A Date: mo day yr Resolution Scope (applicable Section 33413 requirements): Post-1975 project areas and eeoazaphic areas added by amendment after 1975 to pre-1976 project aeeas: Both replacement and inclusionary or production requirements of Section 33413 apply. NOTE: Amounts to report on HCD-A lines 3a(1), 36-3f, and 3i. can betaken from what is reported to the State Controller's Office (SCO) on the Statement of Income and Expenditures as part of the Redevelopment Agency's Financial Transactions Report, except for the reclassifying ofTransfers-In from Internal Funds and the reporting of Other Sources as discussed below: Transfers-In from other internal funds: Report the amount of transferred funds on applicable HCD-A, lines 3a-j. For example, report the amount transferred from the Debt Service Fund to the Housing Fund for the deposit of the required set-aside percentage/amount by reporting gross tax increment on HCD-A, Line 3a(1) and report the Housing Fund's share of expenditures for debt service on HCD-C, Line 4c. Do not report "net" funds transferred from the Debt Service Fund on HCD-A. Line 3a(31 when reportin¢ debt service expenditures on HCD-C, Line 4c. Other Sources: Non-GAAP (Generally Acceptable Accounting Principles) revenues such as from land sales for those agencies using the Land Held for Resale method to record land sales should be reported on HCD-A Line 3d. Housing fund receipts for the repayment of loan principal should be included on HCD-A Line 3h. California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-A Sch A (7/1/07) Page 1 Of 6 GENERAL INFORMATION Project Area Information a. 1. Year 1"plan for project azea was adopted: 1961 2. Year that plan was last amended (if applicable): 2006 3. Was plan amended to extend time ]units? No~ Yes 4. If plan was extended, idenfify Section of Health and Safety Code applicable to extension: 5. Project Area Time Limits: (a) Expiration date of Redevelopment Plan: 01 / 01 / 2012 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Ocean Park 1B Proiect Area Housine Fund Revenues and Other Sources 3. Report all revenues and other sources of funds from this project area which accrued to the Housing Fund over the reporting yeaz. Any income related to agency-assisted housing located outside the project area(s) should~be reported as "Other Revenue" on Line 3j. (of this Schedule A), if this~roject area is named as beneficiary in the authorizing resolution. Any other revenue sources not reported on lines 3a: 3i., should also be reported on Line 3j. Enter on Line 3a(1) the full 100% of gross Tax Increment allocated prior to aoolicable pass through of funds and deductions. for fees (refer to Sections 33401, 33446, & 33676). Compute the required minimum percentage (%) of gross Tax Increment and enter the amount on Line 3a(2)(A) or 3a(2)(B). Next, report the amount of Tax Increment set-aside before any exemption and/or deferral (if amount se[-aside is less than required minimum (%), explain the difference). If any amount of Tax Increment was exempted or deferred, in addition to completing lines 3a(4) and/or 3a(5), complete Line 4 and/or Line 5. To determine the amount of Tax Increment deposited to the Housing Fund [Line 3a(6)], subtract allowable amounts exempted [Line 3a(4)] or deferred [Line 3a(5)] from the actual amount allocated to the Housing Fund [Line 3a(3)]. a. Tax Increment: (1) 100%ofGross Allocation: $ 477,368 (2) Calculate only 1 set-aside amount: either A or B below: (A) 20% required by 33334.2 (Line 3a(1) x 20%): $ 95,474 (B) 30%required by 33333.10(8) (Line 3a(1) x 30%): $ 0 (Senate Bill 211, Chapter 741, Statutes of 2001) (3) Amount ofset-aside (Line 3a(2)) allocated to Housing Fund $ 95,474 ' If, pursuant to Section 33334.3(1), less than the minimum % of Gross Tax Increment (see 3a(2) above) is being allocated from this project area, identify the project azea(s) contributing the difference. Explain any other reason(s): (4) Amount Exempted [Health & Safety Code Section 33334.2] (if there is an amount exempted, also complete question #4, next page): ($ ) (5) Amount Deferred [Health & Safety Code Section 33334.6] _ (if there is an amount deferred, also complete question #5, next page): ($ ) (6) Total deposit to the Housing Fund [result of Line 3a(3) through 3a(5)]: $ 95,474 b. Interestlncome: $ 5,052 c. Rental/Lease Income (combine amounts separately reported io the SCO): $ d. Sale ofReal Estate: $ e. Grants (combine amounts separately reported to the SCO): $ £ Bond Administrative Fees: $ g. Defers] Repayments (also complete Line Sc(2) on the next page): $ h. Loan Repayments: $ i. Debt Proceeds: $ j. Other Revenue(s) [Explain and identify amount(s)]: k. Total Project Area Receipts Deposited to Housing Fund (add lines 3a(6). through 3j.): California Redevelopment Agencies -Fiscal Year 2006-2007 Sch A (7/1/07) $ 100,526 HCD-A Page 2 of 6 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Ocean Park 1 B Exemnfioa(s) 4. a. If an exemption was claimed on Page 2, Line 3a(4) to deposit less than the required amount, complete the following information and submit a cony of the required annual "finding" to the Denarhnent: N/A Check only one of the Health and Safety Code Sections below providing a basis for the exemption: ^ Section 33334.2(a)(I): No need in community to increase/improve supply of lower or moderate income housing. ^ Section 33334.2(a)(Z): Less than the minimum set-aside % (20% or 30%) is sufficient to meet the need. ^ Section 33334.2(a)(3): Community is malting substantial effort equivalent in value to minimum set-aside % (20% or 30%) and has specific contractual obligations incurred before May 1, 1991 requiring continued use of this funding. Note: The Section 33334.2(a)(3) exemption expired on June 30,1993 (per subparagraph (C) of the same section). However, certain contraMS entered into prior to May 1,1991 may not be subject to the exemption sunset. ^ Other: Specify code section and reason(s): b. For any exemption claimed on Page 2, Line 3a(4) and/or Line 4a above, identify: N/A Date that initial 1- fmdin was adopted: / / Resolution # Date sent to HCD: / / mo day yr mo day yr Adoption date of reporting veaz finding: / / Resolution # Date sent to HCD: / / mo day yr mo day yr Deferral(s) 5. a. Specify the authority for deferring any set-aside on Line 3a(5). Check only one Health and Safety Code Section boxes: ^ Section 33334.6(d): Applicable to project azeas approved before 1986 in which the required resolution was sent to HCD before September 1986 regazding needing tax increment to meet existing obligations. Existing obligations can include those incurred after 1985, if net proceeds were used to refinance pre-1986 listed obligations. Note: The deferral previously authorized by Section 33334.6(e) expired. It was only allowable in each fiscal year prior to July 1,1996 with certain restrictions. ^ Other: Specify code Section and reason: N/A b. For any deferzalclaimed on Page 2, Line 3a(5) and/or Line Sa above, identify: N/A Date that initial 1- findin was adopted: / / Resolution # Date sent to HCD: / / mo day yr mo day yr Adoption date of reporting year finding: / / Resolution # Date sent to HCD: / / mo day yr mo day yr c. A deferred set-aside pursuant to Section 33334.6(d) constitutes indebtedness to the Housing Fund. Summazize the amount(s) of set-aside deferred over the reporting yeaz and cumulatively as of the end of the reporting yeaz: Amount of Prior Cumulative Amount Amount Defersed Deferrals Repaid Deferred (Net of Any Fiscal Year This Reporting FY During Reporting FY Amount(s) Repaid) (1) Last Reporting FY $ (2) This Reporting FY $ $ $ * p * * Tha rumrdnlivo nmmmf nfdaferred cat-aside chnuld alto he .chnwn nn NCD-C Line Rn If the prior FY cumulative deferzal shown above differs from what was reported on the last HCD report (HCD-A and HCD-C), indicate the amount of difference and the reason: Difference: $ Reason(s): California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-A sch A (v11o7) Page 3 of 6 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Ocean Park 1B Deferrals (continued) 5. d. Section 33334.6(g) requires any agency which defers set-asides to adopt a plan to eliminate the deficit in subsequent years. If this agency has deferred set-asides, has it adopted such a plan? Yes ^ No^ N/A If yes, by what date is the deficit to be eliminated? If yes, when was the original plan adopted for the claimed deferral? Identify Resolution # Date Resolution sent to HCD When was the last amended plan adopted for the claimed deferral? Identfy Resolution # Date Resolution sent to HCD / / mo day yr / / mo day yr / / mo day yr / / mo day yr / / mo day yr Actual Project Area Households Displaced and Units and Bedrooms Lost Over Reporting Year: 6. a. Redevelopment Proiect Activity. Pursuant to Sections 33080.4(a)(1) and (a)(3), report by income category the number of elderly and nonelderly households permanently displaced and the number of units and bedrooms removed or destroyed, over the reporting vear, (refer to Section 33413 for unit and bedroom replacement requirements). N/A Number of Households/Units/Bedrooms Project Activity VL L M AM Total Households Permanently Displaced -Elderly Households Permanently Displaced -Non Elderly Households Permanently Displaced -Total Units Lost (Removed or Destroyed) and Required to be Replaced Bedrooms lost (Removed or Destroyed) and Required to be Replaced Above Moderate Units Lost That Agency is Not Required to Replace Above Moderate Bedrooms Lost That Agency is Not Required to Replace b. Other Activity. Pursuant to Sections 33080.4(a)(1) and (a)(3) based on activities other than the destruction or removal of dwelling units and bedrooms reported on Line 6a, report by income category the number of elderly and nonelderly households permanently displaced over the reporting veaz: N/A Number of Households Other Activity VL L M AM Total Households Permanently Displaced -Elderly Households Permanently Displaced -Non Elderly Households Permanently Displaced -Total c. As required in Section 33413.5, identify, over the reporting year, each replacement housing plan required to be adopted before the permanent displacement, destruction, and/or removal of dwelling units and bedrooms impacting the households reported on lines 6a. and 6b. N/A Date / / mo day yr Date / / mo day yr Please attach a sepazate sheet of paper listing any additional housing plans adopted. Name of Agency Custodian Name of Agency Custodian CaliFomia Redevelopment Agencies -Fiscal Year 2006-2007 HCD-A sch A (7/t/o7) Page 4 of 6 Agency Name: Santa Monica Redevelopment Agency Project AreaName:Ocean Park 1B Estimated Proiect Area Households to be Permanently Displaced Over Current Fiscal Year: 7. a. As required in Section 33080.4(a)(2) for a redevelopment project of the agency, estimate, over the curzent fiscal veaz, the number of elderly and nonelderly households, by income category, expected to be permanently displaced. (Note: actual displacements will be reported for the next reporting yeaz on Line 6). N/A Number of Households Project Activity VL L M AM Total Households Permanently Displaced -Elderly p Households Permanently Displaced -Non Elderly Households Permanently Displaced -Total b. As required in Section 33413.5, for the curzent fiscal year, identify each replacement housing plan required to be adopted before the permanent displacement, destruction, and/or removal of dwelling units and bedrooms impacting the households reported in 7a. Date / / mo day yr Date / / mo day yr Name of Agency Custodian Name of Agency Custodian Please attach a separate sheet of paper listing any additional housing plans adopted. Units Develoued Inside the Proiect Area to Fulfill Requirements of Other Proiect Area(s) N/A 8. Pursuant to Section 33413(b)(2)(A)(v), agencies may choose one or more project areas to fulfill another project area's requirement to construct new or substantially rehabi]itate dwelling units, provided the agency conducts a public hearing and finds, based on substantial evidence, that the aggregation of dwelling units in one or more project areas will not cause or exacerbate racial, edmio, or economic segregation. Were any dwelling units in this project area developed to partially or completely satisfy another project area's requirement to constmct new or substantially rehabilitate dwelling units? No. Yes. Date inirial finding was adopted? / / Resolution # Date sent to HCD: / / mo day yr mo day yr Name of Other California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-A Sch A (7nio7> Page 5 of 6 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Ocean Park 1B Sales of Owner-Occupied Units Inside the Proiect Area Prior to the Expiration of Land Use Controls 9. Section 33413(c)(2)(A) specifies that pursuant to an adopted program, which includes but is not limited to an equity sharing program, agencies may permit the sale ofowner-occupied units prior to the expiration of the period of the land use controls established by the agency. Agencies must deposit sale proceeds into the Low and Moderate Income Housing Fund and within three (3) years from the date the unit was sold, expend funds to make another unit equal in affordability, at the same income level, to the unit sold. a. Sales. Did the agency permit the sale of any owner-occupied units during the reporting yeaz? N/A ^No ^Yes F- Total Proceeds From Sales Over Reporting Year Number of Units SALES VL L M Total Units Sold Over Reporting Year 0 Eaual Units. ^No ^Yes b. Were reporting year funds spent to make units equal in affordabi]ity to units sold over the last three reporting years? N/A ~ Total LiVIIHF Spent On Equal Units Over Re ortin Year Number of Units SALES VL L M Total Units Made Equal This Reporting Yr to Units Soid Over This Reporting Yr 0 Units Made Equal This Reporting Yr to Units Sold One Reporting Yr Ago 0 Units Made Equal This Reporting Yr to Units Sold Two Reporting Yrs Ago 0 Units Made Equal This Reporting Yr to Units Sold Three Reporting Yrs Ago 0 Affordable Units to be Constructed Inside the Proiect Area Within Two Years 10. Pursuant to Section 33080.4(a)(10), report the number of very low, low, and moderate income units to be financed by any federal, state, local, or private source in order for construction to be completed within two veazs from the date of the aereement or contract executed over the reroortine veaz. Identify the project and/or contractor, date of the executed agreement or contract, and estimated complefion date. Specify the amount reported as an encumbrance on HCD-C, Line 6a. and/or any applicable amount designated on HCD-C, Line 7a. such as for capital outlay or budgeted funds intended to be encumbered for project use within two yeazs from the reporting yeaz's agreement or contract date. - DO NOT REPORT ANY UNTTS ON THIS SCHEDULE A THAT ARE REPORTED ON OTHER HCD-As, B, OR Ds. Col A Col B Col C Col D Col E Name of Agreement Estimated Sch C Amount Sch CAmount Project and/or Execution Completion Date Encumbered Designated Contractor Date w/in 2 rs of Col B Line 6a Line 7a VL L M Total $ $ 0 S S 0 $ $ 0 Please attach a separate sheet of paper to list additional information. California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-A scnA(7/t/o7> Page 6 of6 SCHEDULE HCD-B Outside Project Area Activity for Fiscal Year Ended 06 / 30 / 07 Agency Name: Santa Monica Redevelopment Agency Project Name: Los Angeles Prepazer'sName, Title: Nia Tanp Senior Admin. Analyst Prepazer's E-Mail Address: nia.tang@smgov.net Preparer's Telephone No: (310) 458-2232 Prepazer's Facsimile No: (310) 458-3380 Actual Households Displaced and Units and Bedrooms Lost Outside of Project Area(sl Over Renortina Year 1. a. Redevelopment Project Activity. Pursuant to Sections 33080.4(a)(1) and (a)(3), report by income category the number of elderly and nonelderly households permanently displaced and the number of units and bedrooms removed or destroyed, over the reoortine veaz, (refer to Section 33413 for unit and bedroom replacement requirements). Number of Households/UnitsBedrooms Activity VL L M AM Total Households Permanently Displaced - Elderly 0 Households Permanently Displaced -Non Elderly 0 Households Permanently Displaced -Total 0 Units Lost (Removed or Destroyed) and Required to be Replaced - - 0 Bedrooms Lost (Removed or Destroyed) and Required to be Replaced Above Moderate Units Lost That Agency is Not Required to Replace Above Moderate Bedrooms Lost That Agency is Not Required to Replace 0 0 b. Other Activity. Pursuant to Sections 33080.4(a)(1) and (a)(3) based on activities other than the destmction or removal of dwellin¢ units and bedrooms reported on Line la- report by income category the number of elderly and nonelderly households permanently displaced over the reoorting_yeaz. N/A Number of Households Activity VL L M AM Total Households Permanently Displaced -Elderly 0 Households Permanently Displaced -Non Elderly p Households Permanently Displaced -Total 0 c. As required in Section 33413.5, identify, over the reportine year, each replacement housing plan required to be adopted before the permanent displacement, destruction, and/or removal of dwelling units and/or bedrooms impacting the households reported on lines la. and lb. N/A Date / / mo day yr Date / / mo day yr Name of Agency Custodian Name of Agency Custodian Please attach a sepazate sheet of paper listing any additional housing plans adopted. California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-B sch s (vtio7) Page I of 2 Agency Name: Santa Monica Redevelopment Agency HCD B (Outside Project Area) Estimated Households Outside of Project Area(s) to be Permanently Displaced Over Current Fiscal Year: 2. a. As required in Section 33080.4(a)(2) for a redevelopment project of the agency, estimate, over the current fiscal vear, the number of elderly and nonelderly households, by income category, expected to be permanently displaced. (Note: actual displacements will be reported for the next reporting year on Line 1). Estimated Permanent Displacements Number of Households Activity VL L M AM Total Households Permanently Displaced -Elderly p Households Permanently Displaced -Non Elderly 0 Households Permanently Displaced -Total p b. As required in Section 33413.5, for the current fiscal veaz, identify each replacement housing plan required to be adopted before the permanent displacement, destmction, and/or removal of dwelling units and bedrooms impacting the households reported on 2a. Date / / Name of Agency Custodian mo day yr Date / / Name of Agency Custodian mo day yr Please attach a sepazate sheet of paper listing any additional housing plans adopted. Sales of Owner-Occupied Units Outside of Proiect Area(s) Prior to the Expiration of Land Use Controls 3. Section 33413(c)(2)(A) specifies that pursuant to an adopted program, which includes but is not limited to an equity sharing program, agencies may permit the sale ofowner-occupied units prior to the expiration of the period of the land use controls established by the agency. Agencies must deposit sale proceeds into the Low and Moderate Income Housing Fund and within three (3) years from the date the unit was sold, expend funds to make another unit equal in affordability, at the same income level, as the unit sold. N/A a. Sales. Did the agency permit the sale of any owner-occupied units during the reporting year? dJo ~'es b. Were reporting year funds spent to make units equal in affordability to units sold over the last three reporting years? $ F Total LMIHF spent on E ual Units Over Re orting Year Number of Units Income Level VL L M Total Units Made Equal This Reporting Yr to Units Sold Over This Reporting Yr p Units Made Equal This Reporting Yr to Units Sold One Reporting Yr Ago Units Made Equal This Reporting Yr to Units Sold Two Reporting Yrs Ago p Units Made Equal This Reporting Yr to Units Sold Three Reporting Yrs Ago D Affordable Units to be Constructed Outside of Proiect Area(s) Within Two Years From Date of Agreement or Contract 4. Pursuant to Section 33080.4(a)(10), report the number of very low, low, and moderate income units to be financed by any federal, state, local, or private source in order for construction to be completed within two veazs from the date of the agreement or contract executed over the reoorting vear. Identify the project and/or contractor, date of the executed agreement or contract, and estimated completion date. Specify the amount reported as an encumbrance on HCD-C, Line 6a. and/or any applicable amount designated on HCD-C, Line 7a. such as for capital outlay or budgeted funds intended to be encumbered for project use within two years from the reporting year's agreement or contract date. - DONOTREPORT ANY UNITS SHOWN ON SCHEDULES HCD As OR Ds. Col A- Col B Col C Col D Col E Name of Agreement Estimated Sch C Amount Sch C Amount Project and/or Execution Completion Date Encumbered Designated Contractor Date w/in 2 rs of Col B Line 6a Line 7a VL L M Total S $ 5 $ 8 $ release attach a separate sheet of paper to list additional information. See Attached $ ~ Total Proceeds From Sales Over Reporting Year Number of Units Income Level VL L M Total Units Sold Over Current Reporting Year p Eaual Units. Q~Io ^Yes California Redevelopment Agencies-Fiscal Year 2006-2007 _ HCD-B Sch s (vvo7) Page 2 of 2 Attachment to Schedule B -Outside Proiect Areas Affordable Units to be Constructed Outside the Proiect Area(s) Within Two Years From Date of A¢reement or Contract 4. Pursuant to Section 33080.4(a)(10), report the number of very low, low, and moderate income units to be financed by any federal, state, local, or private source in order for construction to be completed within two vears from the date of the agreement or contract executed over the reportine vear. Identify the project and/or contractor, date of the executed agreement or contract, and estimated completion date. Specify the amount reported as an encumbrance on HCD-C, Line 6a. and/or any applicable amount designated on HCD-C, Line 7a. such as for capital outlay or budgeted funds intended to be encumbered for project use within two years from the reporting year's agreement or contract date. Col C Col D Col E Col A Col B Estimated Schedule C Schedule C Name of Agreement Completion Amount Amount VL L M Total Project and/or Execution Date Date Encumbered Designated .Contractor lwr~zyrsotcol [Line 6a] [Linela] el _ New Construction Agency Assisted 2211 4'h Street 7/12/2006 2009 1,041,878 22 22 1349 26`h Street 10/12/2004 April 2007 700,000 36 8 44 2411-23 Centinela Ave. 01/30/2006 March 2008 0 18 18 36 1943 High Place (East) 06/23/2006 2009 1,317,881 7 7 14 (Non-Agency Assisted) 2012 Main Street 2009 1 1 2209 Main Street 01/02/2002 Oct. 2007 21 23 44 ,3021-3031 Santa Monica Blvd. 02/10/2004 Dec. 2007 39 8 47 3107 Santa Monica Blvd. 2009 1 1 Rehabilitation California Redevelopment Agencies -Fiscal Year 2005-06 HCD-B SchB (7/1/05) Attachment SCHEDULE HCD-C Agency-wide Activity for Fiscal Year Ended 06 / 30 / 07 Agency Name: Santa Monica Redevelopment Agency County: Los Angeles Freparer'sName, Title: Martin Kennedy, Admin Svc. Officer preparer's E-Mail Address: martin.kennedy@smgov.net Prepazer's Telephone No: (310) 458-8757 Preparer's Facsimile No: 310) 391-9996 Low & Moderate Income Housing Funds Report on the "status and use of the agency's Low and Moderate Income Housing Fund." Most information reported here should be based on information reported to the State Controller. I. Beginning Balance (Use "Net Resources Available" from last fiscal yeaz report to HCD) $ 18,141,551 a. If Beginnine Balance requires adiustment(s),describe and provide dollar amount (nositive/negative) making un total adiustment: Use < $ > for negative amounts or amounts to be subtracted. b. Adjusted Beginning Balance [Beginning Balance plus + or minus <_> Total Adjustment(s)] $ 18,141,551 2. Project Area(s) Receipts and Housing Fund Revenues a. Total Project Area(s) Receipts. Total Summed amount ofHCD-Schedule A(s) (from Line 3k) $ 12,445,264 b. Housing Fund Resources not reported on HCD Schedule -A(s) Describe and Provide Dollaz Amount(s) (Positive/Negarive) Making Up Total Housing Fund Resources $ c. Total Housing Fund Resources $ 0 3~ Total Resources(L,inelb.+Line2a+Line2c.) $ 30,586,815 NOTES: Many amounts to report as Expenditures and Other Uses (beginning on the next page) should be taken from amounts reported to the State Controller's Office (SCO). Review the SCO's Redevelopment Agencies Financial Transactions Report. Housing Fund "transfers-out" to other internal Agency funds: Report the specific use of all transferred funds on applicable lines 4a: kof Schedule C. For example, transfers from the Housing Fund to the Debt Service Fund for the repayment of principal and interest of debt proceeds deposited to the Housing Fund should be reported on the applicable item comprising HCD-C Line 40, providing tax increment (gross and deposit amounts) were reported on Sch-As. External transfers out of the Agency should be reported on HCD-C Line 4j (e.g.: transfer of excess surplus to the County Housing Authority). O[her Uses: Non-GAAP (Generally Accepted Accounfing Principles) recording of expenditures such as land purchases for agencies using the Land Held for.Resale method to record land purchases should be reported on HCD-C Line 4a(1). Funds spent resulting in loans to the Housing Fund should be included in HCD-C lines 4b., 4f., 4g, 4h, and 4i as appropriate. The statutory cite pertaining to Community Redevelopment Law (CRL) is provided for preparers to review to determine the appropriateness of Low and Moderate Income Housing Fund (LMIHp) expenditures and other uses. HCD does not represent that line items iden8fying any expenditures and other uses are allowable CRL is accessible on the Internet [website: httn://www.leginfo.ca.gov/(CaliforniaLaw)JbeginningwithSection33000oftheHealthandSafetyCode. California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-C sch c (7/tio7) Page 1 of 10 Agency Name: Santa Monica Redevelopment Agency 4. Expenditures, Loans, and Other Uses a. Acquisition ofPronertv & Buildine Sites (33334.2(e)(1)1 & Housing f33334.2(e)(6 (1) Land Purchases(Investment-Land Held forResale)* $ (2) Housing Assets (Fired Asset) * $ (3) Acquisition Expense $ (4) Operation of Acquired Property $ (5) Relocation Costs $ (6) Relocation Payments $ (7) Site Cleazance Costs - $ (8) Disposal Costs $ (9) Other [Explain and identify amount(s)] $ $ 0 * Reported to SCO as part of Assets and Other Debts (10) Subtotal PropertyBuilding Sites/FIousing Acquisition (Sum of Lines 1 - 9) $ b. Subsidies from Low and Moderate Income Housine Fund (LMIHF (1) 1"Time Homebuyer Down Payment Assistance $ (2) Rental Subsidies $ 181.688 (3) Purchase of Affordability Covenants [33413(b)2(B)] $ (4) Other [Explain and identfy amount(s)]: $ $ $ 0 (5) Subtotal Subsidies from LMIHF (Sum of Lines 1- 4) $ 181,688 c. Debt Service f33334.2(eX9)1. If paid from LMIHF, report LMIHF's shaze of debt service. If paid from Debt Service Fund, ensure "gross" tax increment is reported on HCD-A(s) Line 3a(1). (I) Debt Principal Payments (a) Tax Allocation, Bonds & Notes $ 509,000 (b) Revenue Bonds & Certificates of Participation $ (c) City/County Advances & Loans $ (d) U. S. State & Other Long-Term Debt $ (2) Interest Expense $ 704,265 (3) Debt Issuance Costs $ (4) Other [Explain and identify amount(s)]: $ $ 0 (5) Subtotal Debt Service (Sum of Lines 1- 4) $ 1,213,265 d. Plannine and Administration Costs f33334.3(e)(1 (1) Administration Costs $ 32,316 (2) Professional Services (non proiect specific) $ (3) Planning/Survey/Design (non proiect specific) $ (4) Indirect Nonprofit Costs [33334.3(e)(1)(B)] $ (5) Other [Explain and identify amount(s)]: $ $ 0 (6) Subtotal Planning and Administration (Sum of Lines 1 - 5) $ 32,316 California Redevelopmen[Agencies-Fiscal Year 2006-2007 HCD-C Sch c (v1to7l Page 2 of 10 AgencyName: Santa Monica Redevelopment Agency 4. Expenditures, Loans, and Other Uses (continued) e. On/Off--Site Improvements [33334.2(e)(2)] Complete item 13 $ £ Housing Construction [33334.2(e)(5)] $ 8,139,698 g. Housing Rehabilitation [33334.2(e)(7)] $ 8.927.570 h. Maintain Supply of Mobilehome Parks [33334.2(e)(10)] $ i. Preserva5on of At-Risk Units [33334.2(e)(11)] $ j. Transfers Out of Agency - (1) For Transit village Development Plan (33334.19) $ (2) Excess Surplus [33334.12(a)(1)(A)] $ (3) Other (specify code section authorizing transfer and amount) A. Section $ B. Section $ Other Transfers Subtotal $ 0 (4) Subtotal Transfers Out of Agency (Sum ofj(1) throughj(3)) $ 0 k. Other Expenditures, Loans, and Uses [Explain and identify amount(s)]: S S 3 Subtotal Other Expenditures, Loans, and Uses $ 0 1• Total Expenditures, Loans, and Other Uses (Sum of lines 4a: k.) $ 18,494,537 5. Net Resources Available [End of Reporting Fiscal Yeaz] [Page 1, Line 3, Total Resources minus Total Expenditures, Loans, and Other Uses on Line 4.1.] $ 12,092,278 6~ Encumbrances and Unencumbered Balance a. Encumbrances. Amount of Line 5 reserved for future payment of legal contract(s) or ageement(s). See Section 33334.12(g)(2) for definition. $ Refer to item 10 on Sch-A(s) and item 4 an Sch-B. 7,255,821 b. Unencumbered Balance (Line 5 minus Line 6a). Also enter on Page 4, Line I 1 a. $ 4.836.457 ~ Designated/Undesignated Amount of Available Funds a. Designated From Line 6b- Budgeted/planned to use neaz-term $ Refer to item 10 on Sch-A(s) and item 4 on Sch-B b. Undesignated From Line 6b-Portion not vet budgeted/planned to u se g 8. O ther Housing Fund Assets (non recurrent receivables) not included as part of Line 5 a. Indebtedness from Deferrals of Tax Increment (Sec. 33334.6) [refer to Sch-A(s), Line Sc (2)]. $ b. Value of Land Purchased with Housing Funds and Held for Development of Affordable Housing. Complete Sch-C item 14. $ 10.600,000 c. Loans Receivable for Housing Activities $ d. Residual Receipt Loans (periodic/fluctuating payments) $ e. ERAF Loans Receivable (all yeazs) (Sec. 33681) $ £ Other Assets [Explain and identify amount(s)]: S 8 g~ Total Other Housing Fund Assets (Sum of lines 8a: f.) $ 10,600,000 T(1TAT, Fi iTNll F.(1TTTTVfT.inP 5 /NPt Recnnrcec Availahlel+R~ /Total (Rhar Hnneino Fnnd AccPtcl$ Financial Transactions Report. [Explain differences and identify amount(s)]: ENTER LOW-MOD FUND TOTAL EOUTI'IES (BALANCE SI-IEET) California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-C sch e (~/tlo7> Page 3 of 10 Agency Name: Santa Monica Redevelopment Agency Excess Surulus Information Pursuant to Section 33080.7 and Section 33334.12(8)(1), report on Excess Surplus that is required to be determined on the first day of a fiscal yeaz. Excess Suuplus exists when the Adjusted Balance exceeds the greater o£ (1) $1,000,000 or (2) the aggregate amount of tax increment deposited to the Housing Fund during the prior four fiscal yeazs. Section 33334.12(g)(3)(A) and (B) provide that the Unencumbered Balance can be adjusted for: (1) any remaining revenue generated in the reporting yeaz from unspent debt proceeds and (2) if the land was disposed of during the reporting year to develop affordable housing, the difference between the fair mazket value of land and the value received. The Unencumbered Balance is calculated by subtracting encumbrances from Net Resources Available. "Encumbrances" aze funds reserved and committed pursuant to a legally enforceable contract or agreement for expenditure for authorized redevelopment housing activities [Section 33334.12(8)(2)]. For Excess Surplus calculation purposes, carry over the prior year's HCD Schedule C Adjusted Balance as the Adjusted Balance on the first day of the reporting fiscal yeaz. Determine which is lazger: (1) $1 million or (2) the total of tax increment deposited over the prior four years. Subtract the ]azgest amount from the Adjusted Balance and, if positive, report the amount as Excess Surplus. 10. Excess Surplus: Complete Columns 2, 3, 4, & 5 to calculate Excess Surplus for the reporting year. Columns 6 and 7 trackprior years' Excess Surplus Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Sum of Tax Current Current Amount 4 Prior and Current Reporting Years Total Tax -Increment Deposits to Housing Fund Increment Deposits Over Prior Four FYs Reporting Year ls` Day Adjusted Balance Reporting Year I"Day Excess Surplus Balances Expended/Encumbered Against FY Balance of Excess Surplus as of End of Reporting Year Remaining Excess - Surplus for Each Fiscal Year as of End of Reporting Year 4 Rst Yrs Ago FY 02-03 $7,749,474 $ $ $ 3 >?Jrt Yrs Ago FY 03-04 $ 7,511,209 g g g Z>?~ Yrs Ago FY 04-05 $ 8 656,025 $ $ g IR~rtYrAgo FY 05-06 $ 11,154,821 $ $ $ CURRENT Sum of Column 2 Last Yeaz's Sch C Co14 minus: lazeer Reporting Adiusted Balance of Col 3 or $lmm Year (remit positive $) F,1, $ 35,071,529 g 3,574,867 $ $ $ 11. Reportintz Year Ending Unencumbered Balance and Adjusted Balance: a. Unencumbered Balance (End of Year) [Page 3, Line 6b] $ 4,836,457 b. If eligible, adjust the Unencumbered Balance for: (1) Debt Proceeds [33334.12(g)(3)(B)]: Identify unspent debt proceeds and related income remaining at end of reporting yeaz $ (2) Land Conveyance Losses [(33334.12(g)(3)(A))]: Identify reporting year losses from sales/grants/leases of land acquired with low-mod funds, if 49% or more of new or rehabi]itated units will be affordable to lower-income households $ 12. E 1uJust¢p lfalanC¢ (Tor next year's detemtmahon ot>Jxcess Surplus) 1Lme 1 to mmus sum of t jolt) and t tnl~)1 '0 4.836.457 'Note: Do not enter Adjusted Balance in Co14. It is to be reported as next year's 1st day amount to determine Excess Surplus a. If there is remaining Excess Surplus from what was detemtined on the first day of the reporting yeaz, describe the agency's plan (as specified in Section 33334.10) for transferring, encumbering, or expending excess surplus: b. If the plan described in 12a. was adopted, enter the plan adoption date: California Redevelopment Agencies -Fiscal Year 2006-2007 Sch C (7/7/07) mo day yr HCD-C Page 4 of 10 Agency Name: Santa Monica Redevelopment Agency Miscellaneous Uses of Funds 13. If an amount is reported in 4e, pwsuant to Section 33080.4(a)(6), report the total number of very low-, low-, and moderate-income households that directly benefited from expenditures for onsite/offsite imorovements which resulted in either new constmction, rehabilitation, or the elimination of health and safety hazards. (Note: If Line 4e of this schedule does not show expenditwes for improvements, no units should be reported here.) Income Level Households Constructed Households Rehabilitated Households Benefiting from Eliminafion of Health and Safety Hazard Durafion of Deed Restricfion Very Low Low Moderate 14. If the agency is holding land for future housing development (refer to Line 8b), summarize the acreage (round to tenths, do not report squaze footage), zoning, date of pwchase, and the anticipated start date for the housing development. Site Name/Location* No. of Acres Zoning Purchase Date Estimated Date Available Comments Please attach a sepazate sheet of paper listing any additional sites not reported above. 15. Section 33334.13 requires agencies which have used the Housing Fund to assist mortgagors in a homeownership mortgage revenue bond program, or home financing program described in that Section, to provide the following informafion: N/A a. Has your agency used the authority related to definitions of income or family size adjustment factors provided in Section 33334.13(a)? Yes^ No ® Not Applicable ^ b. Has the agency complied with requirements in Section 33334.13(b) related to assistance for very low-income households equal to twice that provided for above moderate-income households? Yes ^ No ^ Not Applicable ^ California Redevelopment Agencies-Fiscal Year 2006-2007 - HCD-C Sch c (Dtio7) Page 5 of 10 Agency Name: Santa Monica Redevelopment Agency 16. Did the Agency use non-CHIRP funds as matching funds for the Federal HOME or HOPE program during the reporting period? YES ^ NO ^/ If yes, please indicate the amount ofnon-LM[HF funds that were used for either HOME' or HOPE program support. HOME $ HOPE $ 17. Pursuant to Section 33080.4(a)(11), the agency shall maintain adequate records to identify the date and amount of all LMIHF deposits and withdrawals during the reporting period. To satisfy this requirement, the Agency should keep and make available . upon request any and all deposit and withdrawal information. DO NOTSUBMITANYDOCUMENTS/RECORDS. Has your agency made any deposits to or withdrawals from the LMIHF? Yes ^/ No ^ If yes, identify the document(s) describing the agency's deposits and withdrawals by listing for each document, the following (attach additional pages of similar information below as necessary): Name of document (e.g. ledger,joumal, etc.): Cash Flow Statement Name of Agency Custodian (person): Martin Kennerly Custodian's telephone number: (310) 458-8757 Place where record can be accessed: 1685 Main Street, Room 212 Name of document (e.g. ledger, journal, etc.): Name of Agency Custodian (person): Custodian's telephone number: Place where record can be accessed: 18. Use of Other (non Low-Mod Fundsl Redeveloument Funds for Housine Please briefly describe the use of any non-CHIRP redevelopment funds (i.e., contributions from the other 80% of tax increment revenue or other non Low-Mod funds) to constmct, improve, assist, or preserve housing in the community. 19. Su¢eestions/Resource Needs Please provide suggestions to simplify andunprove future agency reporting and identify any training, informafion, and/or other resources, etc. that would help your agency to more quickly and effectively use its housing or other funds to increase, improve, and preserve affordable housing? 20. Annual Monitorinz Reports of Previously Comuleted Affordable Housing Proiects/Proarams (H&SC 33418) Were all Annual Monitoring Reports received for all prior yeazs' affordable housing projects/programs? Yes ^/ No ^ California Redevelopment Agencies - Fiscat Year 2006-2007 HCD-C scn c Ivvo7) Page 6 of 10 Agency Name: Santa Monica Redevelopment Agency 21. Excess Surulus Exuenditure Plan (H&SC 33334.10(a) N/A California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-C Sch c (v1ro7) Page 7 of 10 AgencyName:~ Santa Monica Redevelopment Agency 22. Footnote area to provide additional information. California Redevelopment Agencies-Fiscal Year 2006-2007 HCD-C sch c (7itio7) Page 8 of 10 Agency Name: Santa Monica Redevelopment 23. Proiect Achievement and HCD Director's Award for Housin¢ Excellence Project achievement information is optional but can serve important purposes: Agencies' achievements can inform others of successful redevelopment projects and provide instructive information for additional successful projects. Achievements may be included in HCD's Annual Report of Housing Activities of California Redevelopment Agencies to assist other local agencies in developing effective and efficient programs to address local housing needs. In addition, HCD may select various projects to receive the Director's Awazd for Housing Excellence. Projects may be selected based on criteria such as local affordable housing need(s) met, resources utilized, barriers overcome, and project innovation/complexity, etc. Project achievement information should only be submitted for one affordable residential project that was completed within the reporting yeaz as evidenced by a Certificate of Occupancy. The project must not have been previously reported as an achievement. To publish agencies' achievements in a standard format, please complete information for each underlined category below addressing suggesded topics in a narrative format that does not exceed two pages (see example, next page). In addition to submitting information with other HCD forms to the State Controller, please submit achievement information on a 3.5 inch diskette and identify the software type and version. For corrvenience, the diskette can be separately mailed to: HCD Policy Division, 1800 3id Siree; Sacramento, CA 95814 ar data can be emailed by attaching the file and sending it to: rlevv'a~hcdca.gov.~ AGENCY.INFORMATION • Project Type (Choose one of the categories below and one kind of assistance represenfihg the np .marv project type): New/Additional Units (Previously Unoccupied/Uninhabitable): Existine Units (Previously Occunied) - New Construction to own - Rehabilitation of Owner-Occupied - New Construction to rent - Rehabilitation ofTenant-Occupied - Rehabilitaton to own - Acquisition and Rehabilitation to Own - Rehabilitation to rent - Acquisition and Rehabilitation to Rent - Adaptive Re-use - Mobilehomes/Manufactured Homes - Mixed Use Infill - Payment Assistance for Owner or Renter - Mobilehomes/Manufactured Homes - Transitional Housing - Mortgage Assistance - Other (describe) - Transitional Housing - O[her (describe) • Agency Name: - • Agency Contact and Telephone Number for the Project: • Project Name • Clientele served [owner, renter, income group, special need (e.g. large family or disabled), e[c.] • Number and Type of units and location, density, and size of project relative to other projects, etc. • Degree of affordability/assistance rendered to families by project, etc. • Uniqueness (land use, design features, additional services/amenities provided, funding sources/collaboration, before/after project conversion such as re-use, mixed use, etc.) • Cost (acquisition, clean-up; infrastructure, conversion, development, etc.) HISTORY • Timeframe from planning to opening • Baniers/resistance (IegaUfinancial/communiTy, etc.) that were overcome • Problems and creative solutions found • Lessons learned and/or recommendations for undertaking a similaz project AGENCY ROLE AND ACHIEVEMENT • Degree of involvement with concept, design, approval, financing construction, operation, and cost, etc. • Specific agency and/or communiTy goals and objectives met, etc. California Redevelopment Agencies-Fiscal Year 2006-2007 ~ HCD-C sch c (7ttio7) Page 9 of 10 Agency Name: Santa Monica Redevelopment L Proiect Tyne: NEW CONSTRUCTION- OWNER OCCUPIED Redevelopment Agency Contact: Name (Area Code) Telephone # Project/Program Name: Project or Program Description During the reporting year, construction of 12 homes was completed. Enterprises, which specializes in community self-help projects, was the developer, assisting 12 families in the construction of their new homes. The homes took 10 months to build. The families' work on the homes was converted into "sweat equity" valued at $15,000. The first mortgage was from CHFA. Families were also given an affordable second mortgage. The second and third mortgage loans were funded by LNIIHF and HOME funds. History The (Gifu or County) of struggled for several years over what to do about the area. The tried to encourage development in the area by rezoning a large portion of the area for multi-family use, and twice attempted to create improvement districts. None of these efforts were successful and the area continued to deteriorate, sparking growing concern among city officials and residents. At the point that the Redevelopment Agency became involved, there was significant ill will between the residents of the and the (City or County). The introduced the project in with discussions of how the Agency could become involved in improving the blighted residential neighborhood centering on . This area is in the core area of town and was developed with disproportionately narrow, deep lots, based on asubdivision plat laid in 1950. Residents built their homes on the street frontages of and leaving large back-lot areas that were landlocked and unsuitable for development, having no access to either avenue. The Agency worked with 24 property owners to purchase portions of their properties. Over several years, the Agency purchased enough property to complete a tract map creating access and lots for building. Other non-profits have created an additional twelve affordable homes. Agency Role The Agency played the central role. The Project is a classic example of successful redevelopment. All elements ofblight were present: irregular, land-locked parcels without access; numerous property owners; development that lagged behind that of the surrounding municipal property; high development cost due to need for installation of street improvements, utilities, a storm drain system, and undergrounding of a flood control creek; and aloes-income neighborhood in which property sale prices would not support high development costs. The Agency determined that the best development for the area would be single-family owner-occupied homes. The Agency bonded its tax increment to fund the off-site improvements. A tract map was completed providing for the installation of the street improvements, utilities, storm drainage, and the undergrounding of Creek. These improvements cost the Agency approximately $1.5 million. In lieu of using the eminent domain process, the Agency negotiated with 22 property owners to purchase portions of their property, allowing for access to the landlocked parcels. This helped foster trust and good will during the course of the negotiations. The Project got underway once sufficient property was purchased. California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-C seh C (7n/o7) Page 10 of 10 Santa Monica Redevelopment Agency Fiscal Year 2006-07 HCD-D Schedules -Summary Project HCD Forms units - D1 D2 D3 D4 D5 D6 D7 Geneal Project IrHormation Replacement Housing Units Inclusionary Housing Units (Inside the Project Area) Inclusionary Housing Units (Outside the Project Area) Other Housing Units Providetl (wiN LMIHF) Other Housing Unds Provided (without LMIHF) Other Housing Units Provitletl (NO Agency Assistance) 1. 1448 5th St. J ,/ 52 2. 1411 7th St J J 59 3. 834 16th St. / J 10 4. 1520 16th St. / / 5 5. 2013 21st St. / / 5 6. 1424 Broadwa / / 41 vew Construction Units in EQ Project Area Subtotal 172 7. 1349 26th St. / J 44 8. 1751 Cloverfield / J 55 9. 2021 Main St. / / 1 New Construction units (w/Affordability Covenants) outside Project Area Subtotal 100 D1: General Project Information D2: Replacement Housing Units D3: Inclusionary Housing Units (Inside the Project Area) D4: Inclusionary Housing Units (Outside the Project Area) D5: Other Housing Units Provided (with LMIHF) D6: Other Housjng Units Provided (without LMIHF) D7: Other Housing Units Provided (No Agency Assistance) F:1HousingAndRedevelopment~RetlevelopmentWnnual Report- RetlevelapmenflFiscal Year 200fi-OTHCD FormsVSUmmary of HCD-D Schedules (200G07) SCHEDULE HCD-D1 GENERAL PROJECT/PROGRAM INFORMATION For each different Project/Program (area/name/agv or nonage dev/rental or owner), complete a D1 and applicable D2-D7 Examples: 1: 25 minor rehab (Nonagy Dev): Area 1: 15 Owner, Area 2: 6 Rental; & Outside: 4 Rental Complete 3 D-1s, & Ds3-4-5. 2: 20 sub rehab (nonrestricted): Area 3: 4 Agy Dev. Rentals; 16 Nonagy Dev. Rentals. Complete 2 D-1s & 2 D-5s. _3: 15 sub rehab (restricted): Area 4: 15 Nonagy Dev, Owner. Complete 1 D-1 & 1 D-3. 4: 10 new (Outside). 2 Agy Dev (restricted Rental), 8 Nonagy Dev (nonrestricted Owner) Complete 2 D-1s, 1 D-4, & 1 D-5. Name of Redevelopment Agency: Identify Project Area or specify "Outside": General Title of Housing Project/Program: Project/Program Address (optional): Street: 1448 5th St. Owner Name (optional): Santa Monica Redevelopment Agency Earthquake Recovery Proiect Area 1448 5th St. Cam: ZIP: Santa Monica 90401 Total ProjecUProgram Units: #52 Restricted Units: Unrestricted Units: # 52 Was this a federally assisted multi-family rental project [Gov't Code Section 65863.10(a)(3)]? ^ YES^ NO Number of units occupied by ineligible households (e.g. ineligible income/# of residents in unit) at FY end # Number of bedrooms occupied by ineligible persons (e.g. ineligible income/# of residents in unit) at FY # end Number of units restricted for special needs: (numbermust not exceed `Total Project Units') # Number of units restricted that are serving one or more Special Needs: # ^ Check, if data not available Irvine. n wm may ~ervernmu~ ~_ DISABLED (Mental) DISABLED (Physical) t FARMWORKER (Migrant) IVeeUS UeIUW. Jmn UI dll (ne Ue/UW UdO BXCeeU !Re NUmUer OT UN(S- aDOVBJ FARMWORKER (Permanent) FEMALE HEAD OF HOUSHOLD LARGE FAMILY (4 or more Bedrooms) TRANSITIONAL HOUSING ELDERLY EMERGENCY SHELTERS (allowable use only with `Other Housing Units Provided -Without LM/HF" Sch-Dt Affordabili and/or S ecial Need Use Restriction Term enter da /month/ ear usin di its, e. . 07/01!2002 Re lacement Housin Units Inclusions Housin Units Other Housin Units Provided With LMIHF Without LMIHF Restriction Start Date Restriction End Date PerpetuiTy Funding Sources: Redevelopment Funds: $ 0 Federal Funds $ _ State Funds: $ _ Other Local Funds: $ _ Private Funds: $ _ Owner's Equity: $ _ TCAC/Federal Award: $ _ TCAC/State Award: $ _ Total Development/Purchase Cost: $ 0 Check all appropriate form(s) below that will be used to identify all of this Project's/Program's Units: ^ Replacement Housing Units Inclusionary Units: Other Housing Units Provided: (Sch HCD-D2) ^ Inside Project Area (Sch HCD-D3) ^ Wth LMIHF (Sch HCD-D5) ^ Outside Project Area (Sch HCD-D4) ^ Without LMIHF (Sch HCD-D6) 0 No Agencv Assistance (Sch HCD-D7) California Redevelopment Agencies -Fiscal Year 200rr2007 HCD-D1 Sch Dl (7n/07) SCHEDULE HCD-D7 HOUSING UNITS PROVIDED (NO AGENCY ASSISTANCE) (units not claimed on Schedule D-2,3,4,5,6) Agency: Santa Monica Redevelopment Agency Redevelopment Project Area Name, or "Outside": Earthquake Recovery Project Area Housing Project Name: 1448 5th St. NOTE: On this form, only report UNITS NOT REPORTED on HCD-DZ through HCD-Dli for projecUprogram units that have not received ~ agency assistance. Agency assistance includes eitherfnancial assistance (LMIHF or other agency funds) or nonfinancial assistance (design, planning, etc.) provided by agency staff. In same cases, of the total units reported on HCD D1, a portion of units in the same project/program may be agenty assisted (reported on HCD-D2 through HCD-D6) whereas other units may be unassisted by the agency (reported on HCD-D7). The intent of this form is to: (I) reconcile any difference between fatal projecUprogram units reported an HCD-DI compared 'to the sum of all the project's/program's units reported on HCD-D2 through HCD-Dt;, and (2) accountfar other (nonassister~ housing units provided inside a oroiect area that increases the agency's inclusionary obligation. Reoortinp nonagencv assisted oroiects outside a oroiect area is notional, if units do not make-un anv Hart of total units reported on HCD-DI. HCD-D7ReoortineFxamoles Example 1 (reporting partial units): Anew 100 unit project was built (reported on HCD-Dl, Inside or Outside a project area). Fifty (50) units received agency assistance [30 affordable LMIHF units (reported on either HCD-D2, D3, D4, or DS) and 20 above moderate units were funded with other agency funds (reported an HCD-D6)J. The remaining SO (privately financed and developed market-rate units) must be reported on HCD-D7 to make up the difference between 100 reported on DI and 50 reported on D2-D6). le 2 (reporting al[ units): Inside a project area a condemned, historic property was substantially rehabilitated (multi- orsingle family), funded by tax credits and other privatefinancingwithout any agency assistance. Check whether Inside or Outside Project Area in completing applicable information below: ~ INSIDE Project Area Enter the number for each unit type for each applicable activity: ACTIVITY: UNIT TYPE: VLOW LOW MOD AMOD TOTAL New Construction Units: 0 Substantial Rehabilitation Units: 0 Total Units: 0 If agency did not assist anv part of oroiect C 11268 10/07/2003 identify Building Permit Number and Date: BUILDING PERMIT NUMBER BUILDING PERMIT DATE ^ OUTSIDE Project Area Enter the number for each unit type for each applicable activity: ACTIVITY: UNIT TYPE: VLOW LOW MOD AMOD TOTAL New Construction Units: 0 Substantial Rehabilitation Units: 0 Total Units: 0 If agency did not assist anv part of oroiect identify Building Permit Number and Date: BUILDING PERMIT NUMBER BUILDING PERMIT DATE Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported: ^ Replacement Housing Units Inclusionary Units: Other Housing Units Provided: (Sch HCD-D2) ^ Inside Project Area (Sch HCD-D3) ^Wth LMIHF (Sch HCD-D5) ^ Outside Project Area (Sch HCD-D4) ^ Without LMIHF (Sch HCD-D6) California Redevelopment Agencies -Fiscal Yeaz 2006-2007 HCD-D7 SCHEDULE HCD-D1 GENERAL PROJECT/PROGRAM INFORMATION For each different ProjecUProgram (area/name/agv or nonage dev/rental or owner), complete a D1 and applicable D2-D7 Examples: 1: 25 minorrehab (Nonagy Dev): Area 1: 15 Owner, Area 2: 6 Rental,' & Outside: 4 Rental. Complete 3 D-1s, & Ds3-4-5. 2: 20 sub rehab (nonrestricted): Area 3: 4 Agy Dev. Rentals; 16 Nonagy Dev. Rentals. Complete 2 D-1s & 2 D-5s. 3: 15 sub rehab (restricted): Area 4: 15 Nonagy Dev, Owner. Complete 1 D-1 & 1 D-3. 4: 10 new (Outside): 2 Agy Dev (restricted Renta(), 8 Nonagy Dev (nonrestricted Owner) Complete 2 D-1s, 1 D-4, & 1 D-5. Name of Redevelopment Agency: Identify Project Area or specify "Outside": General Title of Housing ProjecUProgram: ProjecUProgram Address (optional): Street: Owner Name (optional): Total ProjecUProgram Units: #59 Santa Monica Redevelopment Agency Earthquake Recovery Proiect Area CCU: ZIP: Santa Monica 90401 Restricted Units: # Unrestricted Units: # 59 Was this a federally assisted multi-family rental project [Gov't Code Section 65863.10(a)(3)]? ^ YES~j NO Number of units occupied by ineligible households (e.g. ineligible income/# of residents in unit) at FY end # Number of bedrooms occupied by ineligible persons (e.g. ineligible income/# of residents in unit) at FY # end Number of units restricted for special needs: (numbermust not exceed "Total Project Units') # Number of units restricted that are serving one or more Special Needs: # ^ Check, if data not available r wm way aervc wmuNre JtICIAd/ IVCGUJ UC/UVV. JUIII VI Ou lu0 /ONVV bqu On1i04U P/6 /VU///UG/ VI vww oAIVVG~ DISABLED (Mental) # FARMWORKER (Permanent) # TRANSITIONAL HOUSING DISABLED (Physical) # FEMALE HEAD OF HOUSHOLD # ELDERLY FARMWORKER (Migrant) # LARGE FAMILY # EMERGENCY SHELTERS (4 or more Bedrooms) (allowable use only with "Other Housing Affordability and/or Special Need Use Restriction Terrn (enter day/month/year using digits, e.g. 07/01/2002): Re lacement Housin Units Inclusiona Housin Units Other Housin Units Provided With LMIHF Without LMIHF Restriction Start Date Restriction End Date Perpetuity Funding Sources: Redevelopment Funds: $ 0 Federal Funds $ _ State Funds: $ _ Other Local Funds: $ _ Private Funds: $ _ Owner's Equity: $ _ TCAC/Federal Award: $ _ TCAC/State Award: $ _ Total Development/Purchase Cost: $ o Check all appropriate form(s) below that will be used to identify all of this Project's/Program's Units: ^ Replacement Housing Units Inclusionary Units: Other Housing Units Provided: (Sch HCD-D2) ^ Inside Project Area (Sch HCD-D3) ^ Wth LMIHF (Sch HCD-D5) ^ Outside Project Area (Sch HCD-D4) ^ Without LMIHF (Sch HCD-D6) ^/ No Agency Assistance (Sch HCD-D7) California Redevelopment Agencies-Fiscal Year 2006-2007 HCD-D1 Sch D] (7/1/07) SCHEDULE HCD-D7 HOUSING UNITS PROVIDED (NO AGENCY ASSISTANCE) (units not claimed on Schedule D-2,3,4,5,6) Agency: Santa Monica Redevelopment Agency Redevelopment Project Area Name, or "Outside": Earthquake Recovery Project Area Housing Project Name: 1411 7th St. NOTE: On thrs form, only report UNITS NOT REPORTED on HCD-D2 through HCD-D6Jor project/pragram units that have not received a~ agency assistance. Agency assistance includes either fenancial assistance (LMIHF or other agency funds) or nonfinancial assistance (design, planning, etc.) provided by agency staff. In some cases, of the total units reported on HCD DI, a porfron of units in the same projecUprogram may be agency assisted (reported on HCD-D2 through HCD-D6) whereas other units may be unassisted by the agency (reported on HCD-D7). The intent of this form is to: (1) reconcile any difference between total projecUprogram units reported on HCD-DI compared to the sum of al[ the project's/pragram's units reported on HCD-D2 through HCD-D6,_ and (2) accountfor other (nonassisted) housing units provided inside a nraiect area that increases the agency's inclusionary obligation. RenorKne nona2encv Example 1 (reporfingpartialuHits): Anew 100 unitproject was built (reported on HCD-Dl, Inside or Outside a project area). Fifty (50) units received agency assistance [30 affordable LMIHF units (reported on either HCD-D$ D3, D4, or DS) and 20 above moderate units were funded with other agency funds (reported on HCD-D6)J. The remaining 50 (privately financed and developed market-rate units) must be reported on HCD-D7 to make up the difference between 100 reported on DI and SO reported on DZ-D6). Example 2 (reporting all units): Inside a project area a condemned, historic property was substantially rehabilitated (multi- family or single family), funded by tar credits and other private financing without any agency assistance. Check whether Inside or Outside Project Area in completing applicable information below: ^ INSIDE Project Area Enter the number for each unit type for each applicable activity: ACTIVITY: UNIT TYPE: VLOW LOW MOD AMOD TOTAL New Construction Units: 0 Substantial Rehabilitation Units: 0 Total Units: b If agency did not assist anv Hart of nraiect C 11420 12/01 /2003 identify Building Permit Number and Date: BUILDING PERMIT NUMBER BUILDING PERMIT DATE ^ OUTSIDE Project Area Enter the number for each unit type for each applicable activity: ACTIVITY: UNIT TYPE: VLOW LOW MOD AMOD TOTAL New Construction Units: 0 Substantial Rehabilitation Units: 0 Total Units: 0 If agency did not assist anv Dart of nraiect identify Building Permit Number and Date: BUILDING PERMIT NUMBER BUILDING PERMIT DATE Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported: ^ Replacement Housing Units Inclusionary Units: Other Housing Units Provided: (Sch HCD-D2) ^ Inside Project Area (Sch HCD-D3) ^Wth LMIHF (Sch HCD-DS) ^ Outside Project Area (Sch HCD-D4) ^ Without LMIHF (Sch HCD-D6) California Redevelopment Agencies-Fiscal Year 2006-2007 HCD-D7 SCHEDULE HCD-D1 GENERAL PROJECT/PROGRAM INFORMATION For each different Project/Program (area/name/agy or nonage devlrental or owner), complete a D1 and applicable D2-D7 Examples: 1: 25 minor rehab (Nonagy Dev): Area 1: 15 Owner, Area 2: 6 Rental, & Outside: 4 Rental. Complete 3 D-ls, & Ds3-4-5. 2: 20 sub rehab (nonrestricted): Area 3: 4 Agy Dev. Rentals; 16 Nonagy Dev. Rentals. Complete 2 D-ls & 2 D-5s. 3: 15 sub rehab (restricted): Area 4: 15 Nonagy Dev, Owner. Complete 1 D-1 & 1 D-3. 4: 10 new (Outside). 2 Agy Dev (restricted Rental), 8 Nonagy Dev (nonrestricted Owner) Complete 2 D-1s, 1 D-4, & 1 D-5. Name of Redevelopment Agency: Identify Project Area ar specify "Outside": General Title of Housing Project/Program: Project/Program Address (optional): Street: 834 16th St. Owner Name (optional): Total Project/Program Units: # 10 Restricted Units: # Unrestricted Units: # 10 Was this a federally assisted multi-family rental project [Gov't Code Section 65863.10(a)(3)]? ^ YESIJ NO Number of units occupied by ineligible households (e.g. ineligible income/# of residents in unit) at FY end # Number of bedrooms occupied by ineligible persons (e.g. ineligible income/# of residents in unit) at FY # end Number of units restricted for special needs: (number must not exceed "Total Project Unds') # Number of units restricted that are serving one or more Special Needs: # ^ Check, if data not available l,vvic. n u,m ,uay oci vc u~wupnc .a/.ico~m ,acaw vc,vvv. .'uur ~, an u,c uc,vvv von cnwc~ um ,vuu,uc, v~ vunu auvvc~ # DISABLED (Mental) # FARMWORKER (Permanent) # TRANSITIONAL HOUSING DISABLED (Physical) # FEMALE HEAD OF HOUSHOLD # ELDERLY # FARMWORKER (Migrant) # LARGE FAMILY # EMERGENCY SHELTERS (4 or more Bedrooms) (allowable use o~ with "Other Housing _ Units Provided -Without LMIHF' Sch-D6) Affordability and/or Special Need Use Restriction Term (enter day/monthryear using digits, e.g. 07/01/2002): Re lacement Housin Units Inclusiona Housin Units Other Housin Units Provided With LMIHF Without LMIHF Restriction Start Date Restriction End Date Perpetuity Funding Sources: Redevelopment Funds: $ 0 Federal Funds $ State Funds: $ Other Local Funds: $ _ Private Funds: $ _ Owner's Equity: $ TCAC/Federal Award: $ _ TCAC/State Award: $ _ Total Development/Purchase Cost: $ 0 Check all appropriate form(s) below that will be used to identify all of this Project's/Program's Units: ^ Replacement Housing Units Inclusionary Units: Other Housing Units Provided: (Sch HCD-D2) ^ Inside Project Area (Sch HCD-D3) ^ Wth LMIHF (Sch HCD-DS) ^ Outside Project Area (Sch HCD-D4) ^ Without LMIHF (Sch HCD-D6) No Agency Assistance (Sch HCD-D7) California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-D1 Sch Dl (7/1/07) Santa Monica Redevelopment Agency Earthquake Recovery Project Area 834 16th St. Cam: ZIP: Santa Monica 90403 SCHEDULE HCD-D7 HOUSING UNITS PROVIDED (NO AGENCY ASSISTANCE) (units not claimed on Schedule D-2,3,4,5,6) Agency: Santa Monica Redevelopment Agencv Redevelopment Project Area Name, or "Outside": Earthquake Recovery Project Area Housing Project Name: 834 16th St. NOTE: On this form, only report UNITS NOT REPORTED on HCD-D2 through HCD-D6 jor projecUprogram units that have not received a~ agency assistance. Agency assistance includes eitherfnancial assistance (LMIHF or other agency funds) or nonfenancia[ assistance (design, planning, etc.) provided by agency staff. In some cases, of the total units reported on HCD DI, a portion of units in the same project/program may be agency assisted (reported on HCD-D2 through HCD-D6) whereas other units may be unassisted by the agency (reported on HCD-D7). The intent of this form is to: (I) reconcile any difference between total project/programunjts reported on HCD-DI compared to the sum of all the projecPs/program's units reported on HCD-D2 through HCD-D6, and (2) account for other (nonassisted) housing units provided inside a nroiect area that increases the agency's inclusionary obligation. Reporting nonaeencv mple 1 (reporting partial units): Anew 100 unit project was built (reported on HCD-Dl, Inside or Outside aproject area). v (50) units received agency assistance [30 affordable LMIHF units (reported on either HCD-D2, D3, D4, or DS) and 20 ~e moderate units were funded with other agency funds (reported on HCD-D6)J. The remaining 50 (privately financed developed market-rate units) must be reported on HCD-D7 to make up the difference between 100 reported on DI and 50 ~rted on D2-D6). de 2 (reporting alt units): Inside a project area a condemned, historic property was substantially rehabilitated (muld- or single family), funded by tax credits and other private financing without any agency assistance. Check whether Inside or Outside Project Area in completing applicable information below: ^Q INSIDE Project Area Enter the number for each unit type for each applicable activity: ACTIVITY: UNIT TYPE: VLOW LOW MOD AMOD TOTAL New Construction Units: 0 Substantial Rehabilitation Units: 0 Total Units: 0 if agency did not assist anv part of project C 11639 02/27(2004 identify Building Permd Number and Date: BUILDING PERMIT NUMBER BUILDING PERMIT DATE ^ OUTSIDE Project Area Enter the number for each unit type for each applicable activity: ACTIVITY: UNIT TYPE: VLOW LOW MOD AMOD TOTAL New Construction Units: 0 Substantial Rehabilitation Units: 0 Total Units: 0 if agency did not assist anv Dart of project identify Building Permit Number and Date: BUILDING PERMIT NUMBER BUILDING PERMIT DATE Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported: ^ Replacement Housing Units Inclusionary Units: Other Housing Units Provided: (Sch HCD-D2) ^ Inside Project Area (Sch HCD-D3) ^ Wth LMIHF (Sch HCD-DS) ^ Outside Project Area (Sch HCD-D4) ^ Without LMIHF (Sch HCD-D6) California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-D7 SCHEDULE HCD-D1 GENERAL PROJECT/PROGRAM INFORMATION For each different Project/Program (arealname/agv or nonage dev/rental or owner), complete a D1 and applicable D2-D7 Examples: 1: 25 minor rehab. (Nonagy Dev): Area 1: 15 Owner, Area 2: 6 Rental,' & Outside: 4 Rental. Complete 3 D-1s; & Ds3-4-5. 2: 20 sub rehab (nonrestricted): Area 3: 4 Agy Dev. Rentals; 16 Nonagy Dev. Rentals. Complete 2 D-1s & 2 D-5s. 3: 15 sub rehab (restricted): Area 4: 15 Nonagy Dev, Owner. Complete 1 D-1 & 1 D-3. 4: 10 new (Outside). 2 Agy Dev (restricted RentalJ, 8 Nonagy Dev (nonrestricted Owner) Complete 2 D-1s, 1 D-4, & 1 D-5. Name of Redevelopment Agency: Identify Project Area or specify "Outside": General Title of Housing Project/Program: Project/Program Address (optional): Street: Santa Monica Redevelopment Agency Earthquake Recovery Proiect Area 1520 16th St. Cam: ZIP: 152016th St. Santa Monica 90404 Owner Name (optional): Total ProjecUProgram Units: #5 Restricted Units: # Unrestricted Units: # 5 Was this a federally assisted multi-family rental project [Gov't Code Section 65863.10(a)(3)]? ^ YES^ NO Number of units occupied by ineligible households (e.g. ineligible income/# of residents in unit) at FY end # Number of bedrooms occupied by ineligible persons (e.g. ineligible incomel# of residents in unit) at FY # end Number of units restricted for special needs: (numbermust not exceed "Total Project Units') # Number of units restricted that are serving one or more Special Needs: # ^ Check, if data not available (IVVLG. h WOl I/lay JCI VC II/Ullll//C JLICUICI IVGCUJ UCIUVV. JUlll VI all !I/C UC/VVV UCII CRUCCU !IlC IVUI/IUC/ UI VIIIIJ DISABLED (Mental) DISABLED (Physical) FARMWORKER (Migrant) FARMWORKER (Permanent) ~ FEMALE HEAD OF HOUSHOLD # LARGE FAMILY # (4 or mare Bedrooms) TRANSITIONAL HOUSING ELDERLY EMERGENCY SHELTERS (allowable use only with °OtherHousing Affordability and/or Soecial Need Use Restriction Term (enter day/month/year using digits. e.a. 07/01/20021: Re lacement Housin Units Inclusions Housin Units Other Housin Units Provided With LMIHF Without LMIHF Restriction Start Date Restriction End Date Perpetuity Funding Sources: Redevelopment Funds: $ 0 Federal Funds $ _ State Funds: $ _ Other Local Funds: $ _ Private Funds: $ _ Owner's Equity: $ TCAC/Federal Award: $ _ TCAC/State Award: $ _ Total Development/Purchase Cost: $ o Check all appropriate form(s) below that will be used to identify all of this Project's/Program's Units: ^ Replacement Housing Units Inclusionary Units: Other Housing Units Provided: (Sch HCD-D2) ^ Inside Project Area (Sch HCD-D3) ^ Wth LMIHF (Sch HCD-DS) ^ Outside Project Area (Sch HCD-D4) ^ Without LMIHF (Sch HCD-D6) ^/ No Agency Assistance (Sch HCD-D7) California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-D1 Sch D](7/1/07) SCHEDULE HCD-D7 HOUSING UNITS PROVIDED (NO AGENCY ASSISTANCE) (units not claimed on Schedule D-2,3,4,5,6) Agency: Santa Monica Redevelopment Agencv Redevelopment Project Area Name, or "Outside": Earthquake Recovery Project Area Housing Project Name: 1520 16th St. NOTE: On this jorm, only report UNITS NOT REPORTED on HCD-D2 through HCD-D6 for projecUprogram units that have not received a~ agency assistance. Agency assistance includes either financial assistance (LMIHF or other agency funds) or nonfinancial assistance (design, planning, etc.) provided by agency staff. In same cases, of the total units reported on HCD D1, a portion of units in the same projecUprogram may be agency assisted (reported on HCD-DZ through HCD-D[;) whereas other units may be unassisted by the agency (reported on HCD-D7). The intent of this form is to: (1) reconcile any difference between total projecUprogram units reported on HCD-DI compared to the sum of al[ the project's/program's units reported on HCD-D2 through HCD-D6, and (2) account for other (nonassrsted) housing units provided inside a project area that increases the agency's inc[usionary obligation. Renordnn nonaeencv Example 1 (reporting partial units): Anew 100 unit project was built (repoded on HCD-DI, Inside or Outside a project area). Fifty (SO) units received agency assistance [30 affordable LMIHF units (reported on either HCD-D2, D3, D4, or DS) and 20 above moderate units were funded with other agency funds (reported on HCD-D6)J. The remaining 50 (privately financed and developed market-rate units) must be reported on HCD-D~ to make up the difference between 100 reported on DI and 50 reported on D2-D6). F.:cample 2 (reporting all units): Inside a project area a condemned, historic property was substantially rehabilitated (multi- family or single family), funded by lax credits and other private financing without any agency assistance. Check whether Inside or Outside Project Area in completing applicable information below: ~ INSIDE Project Area Enter the number for each unit type for each applicable activity: ACTIVITY: UNIT TYPE: VLOW LOW MOD AMOD TOTAL New Construction Units: 0 Substantial Rehabilitation Units: 0 Total Units: 0 If agency did not assist anv part of nroiect C 11683 .03/16/2004 identify Building Permit Number and Date: BUILDING PERMIT NUMBER BUILDING PERMIT DATE ^ OUTSIDE Project Area Enter the number for each unit type for each applicable activity: ACTIVITY: UNIT TYPE: VLOW LOW MOD AMOD TOTAL New Construction Units: 0 Substantial Rehabilitation Units: 0 Total Units: 0 If agency did not assist anv part of project identify Building Permit Number and Date: BUILDING PERMIT NUMBER BUILDING PERMIT DATE Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported: ^ Replacement Housing Units Inclusionary Units: Other Housing Units Provided: (Sch HCD-D2) ^ Inside Project Area (Sch HCD-D3) ^ Wth LMIHF (Sch HCD-D5) ^ Outside Project Area (Sch HCD-D4) ^ Without LMIHF (Sch HCD-D6) Catiromia Redevelopment Agencies -Fiscal Year 2006-2007 HCD-D7 SCHEDULE HCD-D1 GENERAL PROJECT/PROGRAM INFORMATION For each different Project/Program (area/namelogy or nonage dev/rental or owner), complete a D1 and applicable D2-D7 Examples: 1: 25 minor rehab (Nonagy Dev): Area 1: 15 Owner, Area 2: 6 Rental, & Outside: 4 Rental. Complete 3 D-1s, & Ds3-4-5. 2: 20 sub rehab (nonrestricted): Area 3: 4 Agy Dev. Rentals; 16 Nonagy Dev. Rentals. Complete 2 D-1s & 2 D-Ss. 3: 15 sub rehab (restricted): Area 4: 15 Nonagy Dev, Owner. Complete 1 D-1 & 1 D-3. 4: 10 new (Outside). 2 Agy Dev (restricted Rental); 8 Nonagy Dev (nonrestricted Owner) Complete 2 D-1 s, 1 D-4, & 1 D-5. Name of Redevelopment Agency: Santa Monica Redevelopment Agency Identify Project Area or specify "Outside": Earthquake Recovery Proiect Area General Title of Housing Project/Program: 2013 21st St. Project/Program Address (optional): Street: C;~: ZIP: 2013 21st St. Santa Monica 90404 Owner Name (optional): Total ProjecNProgram Units: #5 Restricted Units: # Unrestricted Units: # 5 'or oroiects/oroorams with no RDA assistance. do not complete anv of below or anv of HCD D2-D6. Only complete HCD-D7. Was this a federally assisted multi-family rental project [Gov't Code Section 65863.10(a)(3)]? ^ YES^ NO Number of units occupied by ineligible households (e.g. ineligible income/# of residents in unit) at FY end # Number of bedrooms occupied by ineligible persons (e.g. ineligible income/# of residents in unit) at FY # end Number of units restricted for special needs: (numbermust not exceed °Total Project Units') # Number of units restricted that are serving one or more Special Needs: # ^ Check, if data not available (Note: A unit may serve multiple `Special Needs" below. Sum of all the below can exceed the `Number of Units" above) #_ DISABLED (Mental) # FARMWORKER (Permanent) # TRANSITIONAL HOUSING #_ DISABLED (Physical) # FEMALE HEAD OF HOUSHOLD # ELDERLY # FARMWORKER (Migrant) # LARGE FAMILY # EMERGENCY SHELTERS (4 or more Bedrooms) (allowable use only with "Other Housing Units Provided -Without LMIHF" Sch-D6 Affordability and/or Special Need Use Restriction Term (enter daVlmonth/year using digits, e.g. 07/01/2002): Re Iacement Housin Units Inclusions Housin Units Other Housin Units Provided With LMIHF Without LMIHF Restriction Start Date Restriction End Date Perpetuity Funding Sources: Redevelopment Funds: $ 0 Federal Funds $ _ State Funds: $ _ Other Local Funds: $ _ Private Funds: $ _ Owner's Equity: $ TCAC/Federal Award: $ _ TCAC/State Award: $ _ Total Development/Purchase Cost: $ 0 Check all appropriate form(s) below that will be used to identify all of this Project's/Program's Units: ^ Replacement Housing Units Inclusionary Units: Other Housing Units Provided: (Sch HCD-D2) ^ Inside Project Area (Sch HCD-D3) ^ Wth LMIHF (Sch HCD-D5) ^ Outside Project Area (Sch HCD-D4) ^ Without LMIHF (Sch HCD-D6) ^/ No Agency Assistance (Sch HCD-D7) California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-D 1 Sch Dl (7/1/07) SCHEDULE HCD-D7 HOUSING UNITS PROVIDED (NO AGENCY ASSISTANCE) (units not claimed on Schedule D-2,3,4,5,6) Agency: Santa Monica Redevelopment Agency Redevelopment Project Area Name, or "Outside": Earthquake Recovery Project Area Housing Project Name: 2013 21st St. NOTE: On this form, only report UNITS NOT REPORTED on HCD-D2 through HCD-D6 for projecUprogram units that have not received a~ agency assistance. Agency ossistance includes either financial assistance (LMIHF or other agency funds) or nonfinancial assistance (design, planning, etc.) provided by agency staff. In some cases, of the total units reported on HCD DI, a portion of units in the same project/program may be agency assisted (reported on HCD-D2 through HCD-Dti) whereas other units may be unassisted by the agency (reported on HCD-D7). The intent of this form is to: (1) reconcile any difference between total projecUprogram units reported on HCD-DI compared to the sum of all the project's/program's units reported on HCD-D2 through HCD-D6, and (2) accountfor other (nonassisted) housing units provided inside a nroiect area that increases the agency's inclusionary obligation. Renortine nonaeencv 7-D7RenortineEkamnles - mple 1 (reportingpartialunjts): Anew 100 unitproject was built (reposted on HCD-DI, Inside or Outside aproject area). v (50) units received agency assistance [30 affordable LMIHF units (reported on either HCD-D2, D3, D4, or DS) and 20 ~e moderate units were funded with other agency funds (reported an HCD-D6)J. The remaining SO (privately financed developed market-rate units) must be reported on HCD-D7 to make up the difference between 100 reported on DI and 50 ~rted on D2-D6). mple 2 (reporting all units): Inside a project area a condemned, historic property was substan8ally rehabilitated (multi- %ly or single family), funded by tax credits and other private financing without any agency assistance. Check whether Inside or Outside Project Area in completing applicable information below: ^+ INSIDE Project Area Enter the number for each unit type for each applicable activity: ACTIVITY: UNIT TYPE: VLOW LOW MOD AMOD TOTAL New Construction Units: 0 Substantial Rehabilitation Units: 0 Total Units: 0 If agency did not assist anv part of project C12157 08/18/2004 identify Building Permit Number and Date: BUILDING PERMIT NUMBER BUILDING PERMIT DATE ^ OUTSIDE Project Area Enter the number for each unit type for each applicable activity: ACTIVITY: UNIT TYPE: VLOW LOW MOD AMOD TOTAL New Construction Units: 0 Substantial Rehabilitation Units: 0 Total Units: 0 If agency did not assist anv part of nroiect identify Building Permit Number and Date: BUILDING PERMIT NUMBER BUILDING PERMIT DATE Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported: ^ Replacement Housing Units Inclusionary Units: Other Housing Units Provided: (Sch HCD-D2) ^ Inside Project Area (Sch HCD-D3) ^ Wth LMIHF (Sch HCD-DS) ^ Outside Project Area (Sch HCD-D4) ^ Without LMIHF (Sch HCD-D6) California Redevelopment Agencies-Fiscal Year 2006-2007 HCD-D7 SCHEDULE HCD-D1 GENERAL PROJECT/PROGRAM INFORMATION For each different Project/Program (area/name/agv or nonage dev/rental or owner), complete a D1 and applicable D2-D7 Examples: 1: 25 minor rehab (Nonagy Dev): Area 1: 15 Owner, Area 2: 6 Rental, & Outside: 4 Rental. Complete 3 D-1s, & Ds3-4-5. 2: 20 sub rehab (nonrestricted): Area 3: 4 Agy Dev. Rentals; 16 Nonagy Dev. Rentals. Complete 2 D-1s & 2 D-5s. 3: 15 sub rehab (restricted): Area 4: 15 Nonagy Dev, Owner: Complete 1 D-1 & 1 D-3. 4: 10 new (Outside). 2 Agy Dev (restricted Rental), 8 Nonagy Dev (nonrestricted Owner) Complete 2 D-1s, 1 D-4, & 1 D-5. Name of Redevelopment Agency: Santa Monica Redevelopment Agency Identify Project Area or specify "Outside": Earthquake Recovery Project Area General Title of Housing Project/Program: 1424 Broadway Project/Program Address (optional): Street: Cam: ZIP: 1424 Broadway Santa Monica 90404 Owner Name (optional): Total Project/Program Units: #41 Restricted Units: #~_ Unrestricted Units: # Was this a federally assisted multi-family rental project [Gov't Code Section 66863.10(a)(3)]? ^ YESu NO Number of units occupied by ineligible households (e.g. ineligible income/# of residents in unit) at FY end # 0 Number of bedrooms occupied by ineligible persons (e.g. ineligible income/# of residents in unit) at FY # end 0 Number of units restricted for special needs: (number must not exceed "Total Project Units') # 0 Number of units restricted that are serving one or more Special Needs: # ^ Check, if data not available (Note: A unit may serve multiple "Special Needs" below. Sum of all the below can exceed the "Number of Units" above) # DISABLED (Mental) # FARMWORKER (Permanent) # TRANSITIONAL HOUSING DISABLED (Physical) # FEMALE HEAD OF HOUSHOLD # ELDERLY # FARMWORKER (Migrant) # LARGE FAMILY # EMERGENCY SHELTERS (4 or more Bedrooms) (allowable use only wifh "Other Housing Units Provided -Without LMIHF" Sch-D6 Affordability and/or Special Need Use Restriction Term (enter davlmonth/year using digits, e.q. 07/01/2002): Re lacement Housin Units Inclusiona Housin Units Other Housin Units Provided With LMIHF Without LMIHF Restriction Start Date 03/13/2007 Restriction End Date 03/13/2062 Perpetuity Funding Sources: Redevelopment Funds: $ 2,900,000 Federal Funds $ _ State Funds: $ _ Other Local Funds: $ 3.350.000 Private Funds: $ _ Owner's Equity: $ _ TCAC/Federal Award: $ _ TCAC/State Award: $ _ Total Development/Purchase Cost: $ 6.250.000 Check all appropriate form(s) below that will be used to identify all of this Project's/Program's Units: Replacement Housing Units Inclusionary Units: Other Housing Units Provided: (Sch HCD-D2) ^v Inside Project Area (Sch HCD-D3) ^ Wth LMIHF (Sch HCD-D5) Outside Project Area (Sch HCD-D4) ^ Without LMIHF (Sch HCD-D6) ^ No Agency Assistance (Sch HCD-D7) California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-D1 Sch Dl (7/1/07) SCHEDULE HCD-D3 INCLUSIONARY HOUSING UNITS (INSIDE PROJECT AREA) (units not claimed on Schedule D-4,5,6,7) (units with required affordability restrictions that agency or community controls) Agency: Santa Monica Redevelopment Agency Redevelopment Project Area Name: Earthquake Recovery Project Area Affordable Housing Project Name: 1424 Broadway Check only one. If both apply, complete a separate form for each (with another Sch-D1): ^ Aoencv Developed ^/ Non-Agency Developed Check only one. If both apply, complete a separate form for each (with another Sch-D1): ^~ Rental ^Ownes-Occupied Enter the number of units for each applicable activity below: Note: "INELG° refers to a household that is no longer eligible but still a temporary resident and part of the total A. New Construction Units: Eldedy Units Non Elderly Units TOTAL Elderly & Non Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. 34 7 41 ~ 34 7 0 q1 Of Total, identify the number aggregated from other project areas (see HCD-A(s), Item 8): B. Substantial Rehabilitation /Post-93/AB 1290 Definition of Value >25%: Credit for Obligations Since 1994): Eldedy units Non Eldedy Units TOTAL Elderly 8 Non Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. ~0 ~ ~p ~ 0 0 0 0~~0 Of Total, identify the number aggregated from other project areas (see HCD-A(s), Item 8): C. Acquisition of Covenants (Post-93/AB 1290 Reform: Only Multi-Family Vlow & Low & Other Restrictions Eldedy Units Non Elderly Units TOTAL Elderly & Non Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. ~~ ~~ 0 0 ~~ TOTAL UNITS (Add only TOTAL of all "TOTAL Elderly /Non Elderly Units"): 41 IjTOTAL UNITS is less than "Total Project Units" on HCD Schedule Dl, report the remaining units ar instructed below. Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported: ^ Replacement Housing Units ^Inclusionary Units Outside Project Area) Other Housing Units Provided: (Sch HCD-D2) (Sch HCD-D4) ^ Wth LMIHF (Sch HCD-D5) ^ Without LMIHF (Sch HCD-DB) ^No Assistance (Sch HCD-D7) Identify the number of Inclusionary Units which also have been counted as Replacement Units: Elderly Units Non Elderly Units TOTAL Elderty & Non Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. 0 0 ~ 0 0 ~ 0 0 0 0 ~0 California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-D3 Sch D3 (7/1/07) SCHEDULE HCD-D1 GENERAL PROJECT/PROGRAM INFORMATION For each different Project/Program (area/name/agv or nonagv dev/rental or owner), complete a D1 and applicable D2-D7 Examples: 1: 25 minorrehab (Nonagy Dev): Area 1: 15 Owner, Area 2: 6 Rental,' & Outside: 4 Rental. Complete 3 D-1s, & Ds3-4-5. 2: 20 sub rehab (nonrestricted): Area 3: 4 Agy Dev. Rentals; 16 Nonagy Dev. Rentals. Complete 2 D-1s & 2 D-5s. 3: 15 sub rehab (restricted): Area 4: 15 Nonagy Dev, Owner. Complete 1 D-1 & 1 D-3. 4: 10 new (Outside). 2 Agy Dev (restricted Rental), 8 Nonagy Dev (nonrestricted Owner) Complete 2 D-1 s, 1 D-4, & 1 D-5. Name of Redevelopment Agency Identify Project Area or specify "Outside": General Title of Housing ProjecUProgram: Project/Program Address (optional): Street: 1349 26th St. Owner Name (optional): Total ProjecUProgram Units: #44 Restricted Units: #~~ Unrestricted Units: # For oroiects/oroorams with no RDA assistance. do not complete anv of below or anv of HCD D2-D6. Onlv complete HCD-D7. Was this a federally assisted multi-family rental project [Gov't Code Section 65863.10(a)(3)]? ^ YES^/ NO Number of units occupied by ineligible households (e.g. ineligible income/# of residents in unit) at FY end # 0 Number of bedrooms occupied by ineligible persons (e.g. ineligible income/# of residents in unit) at FY # end 0 Number of units restricted for special needs: (number must not exceed "Total Project Units') # 0 Number of units restricted that are serving one or more Special Needs: # ^ Check, if data not available lrvute. n uun may serve DISABLED (Mental) DISABLED (Physical) FARMWORKER (Migrant) apeaa~ iveeus ue~ow. aum v~ au ure ueiow can exceeo me wumuer or unRS- aoove/ FARMWORKER (Permanent) FEMALE HEAD OF HOUSHOLD LARGE FAMILY (4 ar more Bedrooms) TRANSITIONAL HOUSING ELDERLY EMERGENCY SHELTERS (allowable use only with `Other Housing Affordability and/or Special Need Use Restriction Term (enter day/month/year using digits, e.q. 07/01/2002): Re lacement Housin Units Inclusions Housin Units Other Housin Units Provided With LMIHF Without LMIHF Restriction Start Date 04/19/2007 Restriction End Date 04/19/2062 Perpetuity Funding Sources: Redevelopment Funds: $ 5,408,033 Federal Funds $ 1,691,967 State Funds: $ 0 Other Local Funds: $ _ Private Funds: $ _ Owner's Equity: $ _ TCAC/Federal Award: $ _ TCAC/State Award: $ _ Total Development/Purchase Cost: $ 7.100.000 Check all appropriate form(s) below that will be used to identify all of this Project's/Program's Units: Replacement Housing Units Inclusionary Units: Other Housing Units Provided: (Sch HCD-D2) ^ Inside Project Area (Sch HCD-D3) ^ Wth LMIHF (Sch HCD-DS) ^/ Outside Project Area (Sch HCD-D4) ^ Without LMIHF (Sch HCD-D6) ^ No Agencv Assistance (Sch HCD-D7) Santa Monica Redevelopment Agency Outside 1349 26th St. Cam: ZIP: Santa Monica 90404 California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-D1 Sch Dl (7/1/07) SCHEDULE HCD-D4 INCLUSIONARY HOUSING UNITS (OUTSIDE ALL PROJECT AREAS) (units not claimed on Schedule D-3,5,6,7) (units with required affordability restrictions that agency or community controls) Agency: Santa Monica Redevelopment Agencv Project Area: OUTSIDE Affordable Housing Project Name: tsar 2Rth Street Check only one. If both apply, complete a se grate form for each {with another Sch-D1): ^Agencv Developed ~/ Non-Agencv Developed Check only one. If both apply, complete a se grate form for each (with another Sch-D1): Q Rental ~ Owner-Occupied Check only one. If both apply, complete a se grate form for each (with another Sch-D1): ^ One-to-One Credit ~]/ Two-to-One Credit (units do not fulfill any (2 units required to fulfill project area obligation) 1 obligation of any project area) Note: "INELC>"refers to a household that is no longer eligible but still a temporary resident and part of the total Enter the number of units for each applicable activity below A. New Construction: Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. 36 8 44 ~ 36 8 0 44 Of Total, identify the number aggregated from other project areas (see HC D-A(s), Item 8): B. Substantial Rehabilitatio n: (Post-93/AB 1290 Definition of Value >25%: Credit for Obligations Since 1994): Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. ~ ~ 0 ~ 0 0 0 ~~ Of Totai, identify the number aggregated from other project areas (see HCD-A(s), Item 8): C. Acquisition of Covenants (Post-93/AB 1290 Reform: Onlv Multi-Family Vlow 8 Low & Other Restrictionsl: Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. ~0 ~ ~0 ~ 0 0 ~p 0~ TOTAL UNITS (Add only TOTAL of a0 "TOTAL Elderly /Non Elderly Units"): 44 ~ Ij TOTAL UNITS is lessthan "Total ProiecUProgram Units"an HCD Schedule Dl, report the remaining units as instructed below. I Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported: ^ Replacement Housing Units ^Inclusionary Units (Inside Project Area) Other Housing Units Provided: (Sch HCD-D2) (Sch HCD-D3) ^ Wth LMIHF (Sch HCD-D6) Without LMIHF (Sch HCD-D6) ^ No Assistance (Sch HCD-D7) Identify the number of Inclusionary Units which also have been counted as Replacement Units: Elderly Units Non Elderly Units TOTAL Elderly 8 Non Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. 0~~ 0~~ 0 0 0 0~ California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-D4 Sch D4 (7/1/07) SCHEDULE HCD-D1 GENERAL PROJECT/PROGRAM INFORMATION For each different Project/Program (arealname/aov or nonage devlrental or owner), complete a D1 and applicable D2-D7 Examples: 1: 25 minor rehab (Nonagy Dev): Area 1: 15 Owner, Area 2: 6 Rental,- & Outside: 4 Rental. Complete 3 D-1s, & Ds3-4-5. _2: 20 sub rehab (nonrestricted): Area 3: 4 Agy Dev. Rentals; 16 Nonagy Dev. Rentals. Complete 2 D-1 s & 2 D-5s. 3: 15 sub rehab (restricted): Area 4: 15 Nonagy Dev, Owner. Complete 1 D-1 & 1 D-3. 4: 10 new (Outside). 2 Agy Dev (restricted Rental), 8 Nonagy Dev (nonrestricted Owner) Complete 2 D-1s, 1 D-4, & 1 D-5. Name of Redevelopment Agency: Identify Project Area or specify "Outside": General Title of Housing Project/Program: Project/Program Address (optional): Street: 1751 Cloverfield Owner Name (optional): Total Project/Program Units: #55 Restricted Units: #~_ Unrestricted Units: # 'or oroiects/orograms with no RDA assistance, do not complete anv of below or anv of HCD D2-D6. Only complete HCD-D7. Was this a federally assisted multi-family rental project [Gov't Code Section 65863.10(a)(3)]? ^/ YES^ NO Number of units occupied by ineligible households (e.g. ineligible income/# of residents in unit) at FY end # Number of bedrooms occupied by ineligible persons (e.g. ineligible income/# of residents in unit) at FY # end Number of units restricted for special needs: (numbermust not exceed °Total Project Units') Number of units restricted that are serving one or more Special Needs: # ^ Check, if data not available (Note: A unit may serve multiple "Special Needs" below. Sum of all the below can exceed the `Number of Units" above) # DISABLED (Mental) # FARMWORKER (Permanent) # 55 TRANSITIONAL HOUSING # DISABLED (Physical) # FEMALE HEAD OF HOUSHOLD # ELDERLY # FARMWORKER (Migrant) # LARGE FAMILY # EMERGENCY SHELTERS (4 or more Bedrooms) (allowable use only with °Other Housing Units Provided-WithoutLMIHF'Sch-D6 Affordabili and7or S ecial Need Use Restriction Term enter da /month/ ear usin di its, e. .07/0112002 Re Iacement Housin Units Inclusions Housin Units Other Housin Units Provided With LMIHF Without LMIHF Restriction Start Date Restriction End Date Perpetuity Funding Sources: Redevelopment Funds: $ 6,197,112 Federal Funds $ 800,000 State Funds: $ Other Local Funds: $ 400.000 Private Funds: $ _ Owner's Equity: $ _ TCAC/Federal Award: $ _ TCAC/State Award: $ _ Total Development/Purchase Cost: $ 7.397.112 Check all appropriate form(s) below that will be used to identify all of this Project's/Program's Units: ^ Replacement Housing Units Inclusionary Units: Other Housing Units Provided: (Sch HCD-D2) ^ Inside Project Area (Sch HCD-D3) ^ Wth LMIHF (Sch HCD-D5) ~ Outside Project Area (Sch HCD-D4) ^ Without LMIHF (Sch HCD-D6) ^ No Agency Assistance (Sch HCD-D7) Santa Monica Redevelopment Agency 1751 Cloverfield Cam; ZIP: Santa Monica 90404 California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-D1 Sch Dl (7/1/07) SCHEDULE HCD-D4 INCLUSIONARY HOUSING UNITS OUI TSIDE ALL PROJECT AREAS) (units not claimed on Schedule D-3,5,6,7) (units with required affordability restrictions that agency or community controls) Agency: Santa Monica Redevelopment Agencv Project Area: OUTSIDE Affordable Housing Project Name: 1751 CloverFiPld Check only one. If both apply, complete a se orate form for each (with another Sch-D1): ^Agencv Developed /~] Non-Aoencv Developed Check only one. If both apply, complete a separate form for each (with another Sch-D1): ^ Rental ^Owtrer-Occupied Check only one. If both apply, complete a se orate form for each (with another Sch-D1): ^ One-to-One Credit ~ Two-ta-One Credit (units do not fulfill any (2 units required to fulfill project area obligation) 1 obligation of any project area) Note: "INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total Enter the number of units for each applicable activity below: A. New Construction: Elderly Units Non Elderly Units TOTAL Elderty 8 Non Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. 55 55 ~ 55 0 0 55 Of Total, identify the number aggregated from other project areas (see HCD-A(s), Item 8): B. Substantial Rehabilitation: (Post-93/AB 1290 Definition of Value >25%: Credit for Obligations Since 19941: Elderly Units Non Elderly Units TOTAL Elderly 8 Non Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. ~° ~ n~ 0 0 0 0 0 °~ Of Total, identify the number aggregated from other project areas (see HCD-A(s), Item 8): C. Acquisition of Covenants (Post-93/AB 1290 Reform: Only Multi-Family Vlow 8 Low 8 Other Restrictionsl: Elderly Units Non Elderly Units TOTAL Elderly 8rNon Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. ~ ~ DD 0 0 ~~ TOTAL iJNITS (Add only TOTAL of all "TOTAL Elderly /Non Elderly Units"): 55 ~ IjTOTAL UNITS is less than "TotalProjecUPragram Units"an HCD Schedule DI, report the remaining units as instructed below. ~ Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported: ^ Replacement Housing Units ^Inclusionary Units Inside Project Area) Other Housing Units Provided: (Sch HCD-D2) (Sch HCD-D3) ^ Wth LMIHF (Sch HCD-D5) ^ Without LMIHF (Sch HCD-D6) ^ No Assistance (Sch HCD-D7) Identify the number of Inclusionary Units which also have been counted as Replacement Units: Elderly Units Non Elderly Units TOTAL Elderly 8 Non Elderty Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. 0~ ~ 0~ ~ 0 0 0 0~ 0~ California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-D4 Sch D4 (7/1/07) SCHEDULE HCD-D1 GENERAL PROJECT/PROGRAM INFORMATION For each different Project/Program (area/name/agv or nonage dev/rental or owner), complete a D1 and applicable D2-D7 Examples: 1: 25 minor rehab (Nonagy Dev): Area 1: 15 Owner, Area 2: 6 Rental, & Outside: 4 Rental. Complete 3 D-1s, & Ds3-4-5. 2: 20 sub rehab (nonrestricted): Area 3: 4 Agy Dev. Rentals; 1 S Nonagy Dev. Rentals. Comp/ete 2 D-1 s & 2 D-5s. 3: 15 sub rehab (restricted): Area 4: 15 Nonagy Dev, Owner. Complete 1 D-1 & 1 D-3. 4: 10 new (Outside). 2 Agy Dev (restricted Rental), S Nonagy Dev (nonrestricted Owner) Complete 2 D-1s, 1 D-4, & 1 D-5. Name of Redevelopment Agency: Identify Project Area or specify "Outside": General Title of Housing Project/Program: Project/Program Address (optional): Street: 2021 Main St. Owner Name (optional): Santa Monica Redevelopment Agency Outside 2021 Main St. Cam: ZIP: Santa Monica 90405 Total ProjecUProgram Units: #26 Restricted Units: #~_ Unrestricted Units: # 25 Was this a federally assisted multi-family rental project [Gov't Code Section 66863.10(a)(3)]? ^ YES^ NO Number of units occupied by ineligible households (e.g. ineligible income/# of residents in unit) at FY end # Number of bedrooms occupied by ineligible persons (e.g. ineligible income/# of residents in unit) at FY # end Number of units restricted for special needs: (numbermust not exceed "Total Project Units') # Number of units restricted that are serving one or more Special Needs: # ^ Check, if data not available (IYV(G. F111/ll( Illtly JCI VC IOI/Ip~ t DISABLED (Mental) t DISABLED (Physical) t FARMWORKER (Migrant) rveeVS De/Uw. Jurn Ut al! ule DeIDw Can eXCeef7 me 7VUI17Der Or Un1IS"" aDOVBJ FARMWORKER (Permanent) FEMALE HEAD OF HOUSHOLD LARGE FAMILY (4 or more Bedrooms) TRANSITIONAL HOUSING ELDERLY EMERGENCY SHELTERS (allowable use only with °Other Housing Affordability and/or Special Need Use Restriction Term tenter day/month/year using digits- e_n_ tnmv2nn2f~ Re lacement Housin Units Inclusions Housin Units Other Housin Units Provided With LMIHF Without LMIHF Restriction Start Date Restriction End Date Perpetuity Funding Sources: Redevelopment Funds: $ 0 Federal Funds $ _ State Funds: $ _ Other Local Funds: $ _ Private Funds: $ Owner's Equity: $ TCAC/Federal Award: $ _ TCAC/State Award:. $ _ Total Development/Purchase Cost: $ 0 Check all appropriate form(s) below that will be used to identify all of this Project's/Program's Units: ^ Replacement Housing Units Inclusionary Units: .Other Housing Units Provided: (Sch HCD-D2) ^ Inside Project Area (Sch HCD-D3) ^ Wth LMIHF (Sch HCD-D5) ~ Outside Project Area (Sch HCD-D4) ^ Without LMIHF (Sch HCD-D6) ^ No Agency Assistance (Sch HCD-D7) California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-D1 Sch DI (7/1/07) SCHEDULE HCD-D4 INCLUSIONARY HOUSING UNITS OUTSIDE ALL PROJECT AREAS) (units not claimed on Schedule D-3,5,6,7) (units with required affordability restrictions that agency or community controls) Agency: Santa Monica Redevelopment Agencv Project Area: OUTSIDE Affordable Housing Project Name: 202t Main St. Check only one. If both apply, complete a se orate form for each (with another Sch-D1): ^A enc Developed ~] Non-Agencv Developed Check only one. If both apply, complete a separate form for each (with another Sch-D1): ^/ Rental ^Owner-Occupied Check only one. If both apply, complete a se crate form for each (with another Sch-D1): ^ One-to-One Credit ~]/ Two-to-One Credit (units do not fulfill any (2 units required to fulfill project area obligation) 1 obligation of any project area) Note: "INELG" refers to a household that is no longer eligible buf still a temporary resident and part of the total Enter the number of units for each applicable activity below: A. New Construction: Elderly Units Non Elderly units TOTAL Elderly 8 Non Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. Of Total, identify the number aggregated from other project areas (see HCD-A(s), Item 8): B. Substantial Rehabilitation: (Post-93/A61290 Definition of Value >25°/ • Credit for Obligations Since 19941: Elderly Units Non Elderly units TOTAL Elderry & Non Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. ~~ 0 ~ 0 0 0 ~0 0~ Of Total, identify the number aggregated from other project areas (see HCD-A(s), Item 8): C. Acquisition of Covenants (Post-93/AB 1290 Reform: Only Multi-Family Vlow & Low & Other Restrictionsl: Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. ~ ~ TOTAL UNITS (Add only TOTAL of au °°TOTAL Elderly /Non Elderly Units"): ~, ~ Ij TOTAL (WITS is less than "Total Praject/Program f7nits"on HCD Schedule Dl, report the remaining units ar instructed below. Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported: ^ Replacement Housing Units ^Inclusionary Units (Inside Project Area) Other Housing Units Provided: (Sch HCD-D2) (Sch HCD-D3) ^ Wth LMIHF (Sch HCD-DS) ^ Without LMIHF (Sch HCD-D6) ^ No Assistance (Sch HCD-D7) Identify the number of Inclusionary Units which also have been counted as Replacement Units: Elderry Units Non Elderly Units TOTAL Efderly & Non Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-D4 Sch D4 (7/1/07) SCHEDULE HCD-E CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION BASED ON SPECIFIED HOUSING ACTIVITY DURING THE REPORTING YEAR Agency: Santa Monica Redevelopment Agency Name of Project or Area (if applicable, list "Outside" or "Summary": Earthquake Recovery Complete this form to report activity separately by project or area or to summarize activity for the year.'. Report all new construction and/or substantial rehabilitation units from Forms D2 through D7 that were: (a) developed by the agency and/or (b) developed only in a project area by a nonagency person or entity. PART I [H&SC Secfion 33413(6)(1)] AGENCY DEVELOPED UNITS DURING THE REPORTING YEAR BOTH INSIDE AND OUTSIDE OF A PROJECT AREA 1. New Units Developed by the Aeencv 2. Substantially Rehabilitated Units Developed by the A 3. Subtotal -Baseline of A.A eg ncv Developed Units (add lines 1 & 2) p 4. Subtotal of Increased Inclusionary Obligation (Line 3 x 30%) (see Notes 1 and 2 below) 0 5. Verv-Low Inclusionary Obligation Increase Units (Line 4 x 50%) 0 PART II [I3&SC Section 33413(6)(2)] NONAGENCY DEVELOPED UNITS DURING THE REPORTING YEAR ONLY INSIDE A PROJECT AREA 6. New Units Developed by Any Nona>?encv Person or Entity 172 7. Substantially Rehabilitated Units Developed by Any Nonaeency Person or Entity 0 8. Subtotal -Baseline ofNonaeency Developed Units (add lines 6 & 7) 172 9. Subtotal of Increased Inclusionary Obligation (Line 8 x 15%) (see Notes I and 2 below) 26 10. Very-Low Inclusionary Obligation Increase (Line 9 x 40%) 10 PART III REPORTING YEAR TOTALS 11. Total Increase in Inclusionary Obligation (add lines 4 and 9) 26 12. Verv-Low Inclusionary Obligation Increase (add lines 5 and 10) (Line I2 is a subset of Line II 10 ##################}############3##}#}######}#}#}###}###}#####k#########t#######}#}##}####################}####}######}######## 1. Section 33413(6)(1), (2), and (4) require agencies to ensure that applicable percentages (30% or IS%) of all (market-rate and affordable) "new and substantially rehabilitated dwelling units" are made available at affordable housing cost within IO year planning periods. Market-rate units: units not assisted with low-mod funds and jurisdiction does not control affordability restrictions. Affordable units: units generally restricted for the longest feasible time beyond the redevelopment plan's land use controls and jurisdiction controls affordability restrictions. Aeencv developed units: market-rate units can not exceed 70 percent and affordable units must be at least 30 percent; however, all units assisted with low-mod funds must be affordable. Nonapency developed (project area) units: market-rate units can not exceed 85 percent and affordable units must be at least IS percent. 2. Production requirements may be met on a project-by project basis or in aggregate within each 10 year planning period. The percentage of affordable units relative to total units required within each 10 year planning period may be calculated as follows: AFFORDABLE units =Market-rate x I.30 or .1 S) TOTAL units = Market-rate or A ordable (.70or.85) (.70or.85) (.30or.15) California Redevelopment Agencies -Fiscal Year 2006-2007 HCD-E Sch &1 (7/01/07)