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sr-121311-3oCity Council and Redevelopment City of Agency Report Santa Monica City Council Meeting: December 13, 2011 Agenda Item:U To: Mayor and City Council Chairperson and Redevelopment Agency From: Andy Agle, Director of Housing and Economic Development Subject: Redevelopment Agency Annual Report and Determination Recommended Action Staff recommends that the City Council receive the Redevelopment Agency's Annual Report for Fiscal Year 2010 -2011. Staff recommends that the Redevelopment Agency: 1. Direct the Agency Executive Director to transmit the report, in substantial conformance with the attached draft, to the State Controller for filing; and 2. Adopt the attached Resolution determining that the planning and administration expenses paid from the Low - and Moderate - Income Housing Fund in FY 2010 -2011 are necessary and not disproportionate to the amount spent for the production, improvement, or preservation of low- and moderate - income housing. Executive Summary State law requires each redevelopment agency to present an annual report to its city council and file the report with the State Controller no later than December 31st. The attached report includes a summary of the Agency's programs and activities, a financial audit, and a fiscal statement. The report also includes a description of the Agency's housing activities, which is submitted to the California Department of Housing and Community Development. The Agency is also required to prepare an annual written determination stating that planning and administrative expenses are necessary for the production, improvement, or preservation of low- and moderate - income housing. Discussion The Finance Department prepares annual statements that disclose the Agency's financial operations for the fiscal year. Macias Gini and O'Connell, independent auditors, are in the process of completing their audit of these financial statements for the period of July 1, 2010 through June 30, 2011, in accordance with Section 33080.1 of the California Health and Safety Code. Attached is a draft of the financial statements, which are not anticipated to change materially. 1 In addition to providing a copy of the independent financial audit from Macias Gini and O'Connell, the attached annual report for FY 2010 -2011 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 (HCD). The annual report is required to be received by the Council and transmitted to the State Controller and HCD by December 31, 2011. Additionally, Macias Gini and O'Connell performed tests of the Agency's compliance with certain provisions of laws, regulations, contracts, and grants. The auditors are prepared to report no instances of noncompliance in accordance with government auditing standards upon the Agency's adoption of the attached resolution determining that the expenditure of low- and moderate - income housing funds for planning and administrative expenses are necessary for the production, improvement, or preservation of low- and moderate - income housing. California Health and Safety Code Section 33334.3 (d) provides that the amount of low- and moderate - income housing funds spent for planning and general administrative activities associated with affordable housing activities should not be disproportionate to the amount actually spent for the production, improvement, or preservation of low- and moderate - income housing. Adoption of the attached resolution satisfies the requirement for determining that planning and administrative expenses paid from low- and moderate - income housing funds were necessary for these purposes in FY 2010 -2011. Administrative expenditures used to carry out low- and moderate - income housing activities in FY 2010 -2011 were approved by the Agency as part of the FY 2010 -11 Budget. The administrative expenditures include $140,000 of staff costs associated with the Senior Homeless Prevention and Rental Assistance Program, and $1,000 of bank service fees. The total planning and administrative expenses of $141,000 represent less than one percent of the Agency's total low- and moderate- income housing fund expenditures of nearly $25 million. The expenditure of funds is far below the industry average for housing fund administration and is clearly not disproportionate to the total funds spent on affordable housing. 2 Financial Impacts & Budget Actions No financial impact will result from these actions. Prepared by: Elsa Trujillo, Senior Development Analyst Approved: Forwarded to Council: Andy Agle, Director Rod Gould Housing and Economic Development City Manager Attachments: Attachment A: Annual Report Summary Attachment B: Macias Gini and O'Connell Independent Auditor's Report (Draft Financial Statements) 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 Attachment E: Resolution Determining the Necessity of Expending Low and Moderate Income Housing Funds for Planning and Administration Costs Attachment A SANTA MONICA REDEVELOPMENT AGENCY .III r The Annual Report Summary for the Santa Monica Redevelopment Agency contains a review of the objectives and activities of the Agency in Fiscal Year 2010 -2011, and a preview of the Agency's work plan for Fiscal Year 2011 -2012. This annual report summary for the Santa Monica Redevelopment Agency contains a review of the objectives and activities of the Redevelopment Agency in FY 2010 -2011, and a preview of the Agency's objectives and work plan for FY 2011 -2012. This summary document explains in narrative form what the Agency worked on during the reporting fiscal year. When submitted to the Agency, the summary report is accompanied by supporting documentation that the Agency is required by state law to report each Fiscal Year. 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 (IndependentAuditor'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 is useful in explaining its programs and activities. II. DESCRIPTION OF REDEVELOPMENT PROJECT AREAS On August 13, 1957, the City Council of Santa Monica established the Santa Monica Redevelopment Agency pursuant to Redevelopment1aw. 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 project areas within the city: • Ocean Park Redevelopment Project Area 1A • Ocean Park Redevelopment Project Area 1B • Downtown Redevelopment Project Area • Earthquake Recovery Redevelopment Project Area Ocean Park Redevelopment Project Area 1A 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. The project area is 25 acres bounded by Ocean Park Blvd. to the north, Neilson Way to the east, Ocean Park Project 1B to the south and the state beach parking lots and beach to the west. The project area 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 Santa Monica RedevelopmentAgency Annual Report Summary, Fiscal Year2010 -2011 condominium units. Ocean View Park is a public park located in the center of the project area facing the ocean. The project was completed in 1987. Ocean Park Redevelopment Project Area 1B 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 September 12, 1972, principally to change the permitted land uses. The project area consists of 8 acres bounded by Ocean Park Redevelopment Project Area 1A to the north, Neilson Way to the east, the City limit to the south, and state beach parking lots and the beach to the west. The project area contains two senior citizen residential apartment complexes, Neilson Villas and Barnard Park Villas, which contain 100 and 61 rental units, respectively. A former utility building within the project area was adapted into offices and art storage for the Eli Broad Trust Art Foundation. The project was completed in 1983. Downtown Redevelopment ProjectArea 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 2nd Street to the west. The project consists of Santa Monica Place, a large retail center that is owned and operated by the Macerich Company. The project also includes two City -owned parking structures that provide 1,843 parking spaces. Santa Monica Place underwent a substantial remodel that began in 2008, and the center re- opened in August 2010, The Agency made significant improvements to Parking Structures 7 & 8, which re- opened in conjunction with the mall in the summer of 2010. Improvements included renovating the fagades, converting the structures to full -day attendant parking, installing parking controls, and other related capital improvements. Earthquake Recovery Redevelopment Project The City Council adopted the Redevelopment Plan for the Earthquake Recovery Project on June 21, 1994. The project area is 2.89 square miles— bounded by Cloverfield Boulevard and 26th Street to the east, Pacific Coast Highway /Beach Promenade to the west, Pico Boulevard to the south, and Montana Avenue to the north —and includes the structures predominantly 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 substantial disaster prevention and mitigation, commercial revitalization, community revitalization and institutional projects. In 2009, the City Council approved Redevelopment Funding Priorities for capital improvement projects over the next five years, as discussed below. F) Santa Monica Redevelopmen t Agency Annual Report Summary, Fiscal Year 2010-2011 II. FIVE -YEAR REDEVELOPMENT FUNDING PRIORITIES To capitalize on the Earthquake Recovery Redevelopment Project Area's ability to collect tax increment through 2042, the Redevelopment Agency must issue or commit all debt obligations by 2014. Thus, in June 2009, the Agency adopted funding priorities for spending a projected $283 million in tax increment revenues over the next five years (not including the 20 percent of gross tax increment dedicated and expended on affordable housing). These funding priorities are indicated throughout this report as priority projects. The Agency emphasized affordable housing, planning to spend $43 million beyond the required 20 percent of tax increment funds. This means that over the next five years, 15 percent of the Agency's prioritized spending is committed to affordable housing development, in addition to existing affordable housing requirements. Priority spending also emphasizes public improvements to the Civic Center area and in other parts of the City as described in section V below and in the Agency's FY 2009 -2010 through FY 2013 -2014 Five -Year Implementation Plan, which the Agency adopted on November 17, 2009. To ensure the timely implementation and completion of the priority projects, the Agency carried out the following actions during the report year: • On August 10, 2010, the Agency entered into Cooperation Agreement No. 9267 (CCS /RAS) to delineate the Agency's and the City s obligations associated with the implementation of the priority projects. e On January 17, 2011, the Agency and the Council authorized execution of an Implementing Agreement No. 9318 (CCS /RAS), to set forth the schedule of payments to reimburse the City for costs associated with implementation of the projects in the Cooperation Agreement No. 9267 (CCS /RAS). • On February 22, 2011, the Agency and the Council authorized execution of an Second Implementation Agreement No. 9340 , clarifying the City's ability to exercise its option to secure the Agency s obligations under the Cooperation Agreement No. 9267 (CCS /RAS). • On March 8, 2011, the Agency and Council approved the use of a term loan of $60 million from Wells Fargo Bank to finance the priority projects. • On May 24, 2011, the Agency and Council authorized the funding agreements for the Civic Center Joint Use Project and Exposition Light Rail Stations priority projects; and, the Agency, City and Public Finance Authority authorized the purchase and sale of the Earthquake Recovery Project Area Series 2011 Bonds Tax Allocation Bonds to finance the priority projects. In January 2011, California Governor Jerry Brown announced his intention to eliminate all redevelopment agencies in California as part of his proposed FY 2011 -2012 budget cuts to balance the state deficit. In the months that followed the California Legislature deliberated on the proposed budget and on June 29, 2011 the Governor signed ABX1 26 (AB 26) and ABX1 27 (AB 27) into law. q Santa Monica Redevelopment Agency Annual ReportSunnnar} Fiscal Year2010 -2011 AB 26 suspends all activities (except enforceable obligations) of the Agency as of June 29, 2011, dissolves the Agency as of October 1, 2011, and liquidates the assets of the Agency subsequent to dissolution, unless the City adopts an Ordinance, authorized under AB 27. AB 27 allows Redevelopment Agencies to participate in the "Voluntary Alternative Redevelopment Program" and avoid being dissolved. The City by adopting this ordinance agreed to pay $26.8 million for FY 2011- 12, to the State of California for FY 2011 -12, due in two payments on January 15, 2012 and May 15, 2012, and in FY 2012 -13 an estimated payment of $ 6.4 million. In response to the adoption of AB 26 and AB 27 on July 18, 2011 CRA and the League of California Cities filed a lawsuit in the California Supreme Court to overturn AB 26 and AB 27 on the basis that it violates the State Constitution. On November 10, 2011, the California Supreme Court heard oral arguments on CRA v. Matosantos lawsuit. The California Supreme Court ruling is expected to be issued by January 15, 2011. Nevertheless, during the reporting year the City and the Agency tools several administrative actions related to AB 26 and AB 27 legislation. On August 9, 2011, the City enacted the Ordinance per AB27 to continue in existence, subject to full reservation of our rights challenging the validity of AB 26 and AB 27. The remittance payments to the State significantly reduced the amount of redevelopment funds available to carry out the Agency's redevelopment programs. Council considered this as they approved the Updated Redevelopment Priorities on May 24, 2011. The remainder of this report is organized by projects as follows: 1) it highlights the affordable housing projects and programs in all areas of the City; and 2) it discusses capital projects according to the area of the City in which they are located. Many of the projects are interrelated due to their proximity to each other, and are therefore grouped accordingly. The report first outlines all of the projects located in the Civic Center area, moves on to projects in the Downtown area, and then discusses projects in other areas of the City. III. ACTIVITIES FOR FISCAL YEAR 2009 -2010 AND 2010 -2011 The Agency's activities for the last fiscal year, and its objectives and activities for the current 2010- 2011 fiscal year are set forth below. These activities implement the Agency's FY 2009 -2010 through FY 2013 -2014 Five Year Implementation Plan for all Redevelopment Project Areas. Exhibit 1 provides a list of projects organized according to which FY 2009 -2010 through 2013 -2014 Implementation Plan objectives they fulfill. The Implementation Plan objectives are as follows: A. Disaster Prevention and Mitigation B. Commercial Revitalization C. Community Revitalization D. institutional Revitalization E. Affordable Housing W Santa Monica RedevelopmentAgency Annual Report Surnmary, Fiscal Year 2010 -2011 A. Affordable Housing Developments [Agency Immediate Funding Priority] The Agency continued its efforts to increase, preserve, and improve the supply of affordable housing in Santa Monica, as set forth in the adopted housing programs of the Redevelopment Agency's 2004 and 2009 Five -Year Implementation Plans. In 2009, the Agency reemphasized the high priority it places on affordable housing by committing an additional allocation of $43 million dedicated to affordable housing development over the next five years, in addition to the 20 percent of gross tax increment that is expended on affordable housing. Staff successfully leverages Agency funds to attract other funding sources, including federal and state tax credits, funding for special needs populations, and traditional bank loans. During the reporting year, staff identified $21.2 million in acquisition, design, and construction projects ready to be funded from the $43 million allocation. Staff also began working on due diligence for the projects that will utilize the remaining $22.4 million allocation and will commit funds as each project becomes ready. Combined, the $43.6 million funding allocation will produce approximately 126 residences. The Agency allocated the following funds to the Low and Moderate Income Housing Fund, and completed the projects and programs described below. Project Area Housing Fund Revenues During the reporting period, the Agency contributed $14,747,191 to its Low & Moderate Income Housing Fund, reflecting 20 percent of the tax increment revenues received in FY 2010 -2011. These funds are used to support low and moderate - income housing. The following represents the breakdown of these contributions: Ocean Park Redevelopment Projects 1A & 1B In FY 2010 -2011 the Ocean Park 1A and 113 Redevelopment Projects received $3,823,519in tax increment revenue, of which $764,703 was set aside for housing activities. These funds were expended on debt service, associated administrative costs and projects through the Affordable Housing Trust Fund. Downtown Redevelopment Project In FY 2010 -2011, the Downtown Redevelopment Project received $2,802,293 in tax increment revenue, of which $560,459 was set aside for housing activities. These funds were expended on debt service, associated administrative costs and developments through the Affordable Housing Trust Fund. Earthquake Recovery Redevelopment Project In FY 2010 -2011, the Earthquake Recovery Redevelopment Project received $67,110,142 in tax increment revenue, of which $13,422,028 was committed to housing activities. Line of Credit -Leveraging Housing Set -Aside Funds. FY2010 -2011: In May 2008, the Agency entered into a Credit Agreement with Bank of America for a line of credit (LOC) of $50,000,000, with the option to increase the line of credit by an kN Santa Monica RedevelopmentAgency Annual Report Summary, Fiscal Year 2010 -2011 additional $25,000,000 to rehabilitate existing developments or to create new affordable housing developments as opportunities arise. During FY 2010 -2011, after committing $48,283,278 of the initial LOC disbursement to affordable housing developments in previous years, the remaining balance of $1,716,722 was committed to additional affordable housing development, resulting in 364 affordable units; 295 of which will be new construction and 69 of which are a new acquisition or rehabilitation unit FY2011 -2012: The Agency will evaluate the feasibility of exercising its option to increase the LOC to fund additional affordable housing developments. . Senior Homeless Prevention and Rental Assistance Program. FY 2010 -2011: The Housing Authority funds two programs with Redevelopment funds —the Senior Homeless Prevention Program (SHP) and the Rental Assistance Program. The SHP program provides assistance to senior households at risk of eviction. The Rental Assistance program provided rental subsidies to 82 senior households. FY2011 -2012: The Agency will continue to provide funding for the SHP and Rental Assistance programs. Agency funds available to these programs for this next fiscal year are $ 1,312,000. 175 Ocean Park Boulevard. FY2010 -2011: The Agency fulfilled 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. FY2011 -2012: This is an ongoing obligation of the Agency. New Construction and Rehabilitation of Affordable Housing Units. In summary, 65 affordable housing units have been rehabilitated and are occupied. An additional 33 units are in the construction phase with the potential for Agency funding on up to 20 new mobile home units at the mobile home park (MHP) located at 1930 Stewart Street in FY 2011 -2012 and 420 units in the acquisition /predevelopment /design phase. The following tables provide a snapshot of housing development activity during FY 2010 -2011 and anticipated activity during FY 2011 -2012. 0 Santa Monica RedevelopmentA,0ency Annual Report Summary, Fiscal Year 2010 -2011 Completed FY 2010-2011 In Construction FY 2010-2011 Development Type Units Bedrooms Affordability Activity FY 2010-2011 Activity and Goals FY 2011-2012 Estimated 2602 New Construction 33 IN-. Very low and 25 — 1BR Very-Low construction Began Rehabilitation WI, —" —tm eM"'N " B-WkodMM Rehabilitation 36 low income and Low Completed cMWe 11-231 m 1930 Stewart 914 4 }}t Std 16 12 -16R Up to 3-11311 Extremely Estimated View Mobile New Rehabilitation Low, Very 4 —26R Low income Rehabilitation construction Units 15 28R low, low Began June 2012 (MHP) 2 —3BR income, and Completed moderate I I 8-11311 X217 LS Rehabilitation Rehabilitation 13 4- 26R Low Income Completed, 1-31311 .............................. . . . . . . . . . To WIN 65 Rs. In Construction FY 2010-2011 Development Type Units Bedrooms Affordability Activity FY 2010-2011 Activity and Goals FY 2011-2012 Estimated 2602 New Construction 33 23-21311 Very low and completion in Broadway construction Began low income late 2012 10 — 3BR Up to 1930 Stewart Mountain Up to 3-11311 Extremely Estimated View Mobile New Low, Very Construction completion in Home Park construction Units 15 28R low, low Began June 2012 (MHP) 2 —3BR income, and moderate I I ig Santa Monica RedevelopmentAgency Annual Report Summary, Fiscal Year 2010 -2011 A Santa Monica Redevelopment Agency Annual Report Summary, Fiscal Year2010 -2011 2 Acquisition /Predevelopment /Design Phase — FY 2010 -2011 Santa Monica RedevelopmentAgency Annual Report Summary Fiscal Year 2010 -2011 The Agency will continue to pursue as many very -low, low, and moderate income housing opportunities within the City as feasible with funding assistance for land acquisition, new construction, and acquisition and rehabilitation of existing properties. B. Civic Center Projects The Civic Center area of Santa Monica is as large as the City's Downtown core but feels very spread out with wide streets and large areas of surface parking. Geographically, the Civic Center area connects several major activity centers — Downtown, the Beach and Pier, Palisades Park, Santa Monica High School, Ocean Park, and the Main Street commercial area. However, it is not pedestrian- oriented and may act more as a barrier than as a connector. The Agency is placing strong priority on redeveloping the Civic Center area so that it can reconnect the city's fabric and Kuo Santa Monica Redevelopment Agency Annual Report Summary, Fiscal Year 2010 -2011 strengthen linkages between key districts. The projects in this section fulfill Implementation Plan goals of community revitalization and institutional revitalization. • Civic Center Specific Plan Projects - The 2005 update to the Civic Center Specific Plan (CCSP) resulted in plans, concept designs, and studies for various project components of the Civic Center, especially public open spaces, cultural facilities and renovation and upgrades to the Civic Center. There has been significant progress on the projects listed below, with the Redevelopment Agency playing a critical role in funding these projects. Palisades Garden Walk. [Agency Immediate Funding Priority] FY2010 -2011: The Palisades Garden Walk (PGW) and Town Square will create seven acres of park space bounded by Interstate 10 and Olympic Drive, City Hall and Ocean Avenue. Envisioned as a central component of the Civic Center Specific Plan (CCSP), these new parks will provide a critical link between the Civic Center, Palisades Park, the Pier and downtown. In FY 2009 -2010, the Agency prioritized a partial allocation of $25 million for design and construction of the new parks. Following a competitive process, the City Council selected James Corner Field Operations to design the parks. During the reporting year, staff and James Corner Field Services conducted a series of extensive community workshops to engage the community and solicit feedback on the design of the parks. On May 24, 2011, Council allocated $46.1 million in immediate funding to facilitate implementation of this project. In June 2011, Council provided feedback on the design development plans for the PGW and Town Square, approved the contract with W.E O'Neil Construction Company to perform the pre- construction and construction services and a contract with American Landscape Inc. to perform site demolition services and tree relocation and removal services. FY 2011 -2012: Preliminary site preparations of the PGW site began in July 2011 and will continue through October 2011, including site demolition of the existing parking lot, preparation and relocation of existing trees on the site, and relocation of an existing recycled water main. Construction is anticipated to start in the spring of 2012 and a park opening is anticipated in the winter of 2013. • Early Childhood Education Center (ECEC). FY2010 -2011: The Civic Center Specific Plan (CCSP) calls for the creation of an early childhood education center (ECEC) to provide a learning environment for Santa Monica College (SMC) Santa Monica Redevelopment Agency Annual Report Summary, Fiscal Year 2010-2011 students and a childcare facility for the civic center. In 2009, the Redevelopment Agency prioritized $4.4 million in funding to supplement a budget appropriation of $1.163 million in RDA funds previously allocated to this project in FY06 /07 and $7 million in SMC Bond funds for design and construction costs. During the reporting year, staff resumed negotiations on a Memorandum of Understanding with Santa Monica Collage, after previous delays due to uncertainty of sitting plans for a museum /cultural facility, which is to be located in an adjacent location to the ECEC. On June 14, 2011, the CCSP was amended to include modified provisions to eliminate proposed surface parking and increase the maximum allowable floor area for the ECEC. On May 24, 2011, as part of the Council's approval of the Agency's updated available RDA funding and commitments this project will no longer be funded with redevelopment funds. General funds were identified to cover the $5.63 million funding need. Following this action, Council approved that the $5.63 million in RDA funds, which were previously allocated for the construction of the ECEC, be used to fund the seismic and infrastructure improvements necessary to retrofit and repair the pier as described in section D of this report under "Pier Improvements." Freeway Capping. [Agency Immediate Funding Priority] FY2010 -2011: A key recommendation of the Civic Center Specific Plan was to explore options for capping a number of different segments of Interstate 10. Capped areas would create new land for open space, parks, and pedestrian connections between Downtown and the Civic Center. As part of its funding priorities in 2009, the Agency allocated $2 million toward freeway capping construction. In January 2010, the Council authorized a contract with AECOM to complete a feasibility study of freeway capping and phasing options from Ocean Avenue to 41h Street, including preliminary cost estimates. The first phase of the feasibility study and cost analysis recommended a priority project to provide better access to the new Palisades Garden Walls by widening of the sidewalk at Ocean Avenue over the freeway. During the reporting year, on May 24, 2011, as part of the Agency's approved updated available RDA funding and commitments, the Council increased funding for this project by $250,000 for a total of $2,250,000 to be added to overall budget for the PGW, as a result of the first phase of the feasibility study and cost estimates. The PGW construction team will construct and oversee the sidewalk widening project. 12 1 Santa Monica Redevelopment Agency Annual ReportSwnmauy Fiscal Year 2010 -2011 FY 2011 -2012: Awarding of a design -build contract to widen the sidewalk at Ocean Avenue over the freeway is anticipated to occur in 2012, with final design approval anticipated by late 2012. The anticipated construction start date is 2013 with an anticipated completion date in 2014. Civic Auditorium District Campus. (Agency Funding Priority] FY 2009 -2010: These open space and cultural facility projects will occupy the block bounded by 4u,, Main, Pico, and Civic Center Drive. The projects include open space and a potential cultural facility with streetscapes and pedestrian linkages designed to complement the Civic Auditorium's program (see below) and the ECEC (described above as a separate capital project within the district). In 2009, the Redevelopment Agency prioritized $21 million in Agency funds for this project. Design and construction of open space improvements on the Civic Auditorium Campus (Campus) are sequenced to occur when use of the Campus is no longer required for interim parking during construction of. downtown projects and for use as a construction staging area for the Civic Auditorium Renovation and construction of the ECEC. FY 2010 -2011: This project will resume when use of the Campus is no longer required for interim parking use during construction of downtown projects and for use as a construction staging area for the Civic Auditorium Renovation and construction of the ECEC. Civic Auditorium Renovation. (Agency Immediate Funding Priority] FY 2010 -2011: In 2009, the Agency prioritized $25 million in RDA funds to renovate the Civic Auditorium which will include seismic and accessibility upgrades to the landmark building as well as some upgrades to equipment (lighting, sound, stage) and building systems (i.e., HVAC, acoustical, electrical). In September 2009, after the issuance of a Request for Qualifications to solicit qualifications from non - profit and /or for-profit entities interested in participating in a public /private partnership for the use and programming. of the Civic Auditorium, Council authorized the City Manager to negotiate an agreement with the Nederlander Organization. During the reporting year on March 2011, Council approved the terms of the Nederlander agreement and on May 26, 2011, as part of the Agency's updated available RDA funding and commitments, the Council determined this project to be an immediate funding priority and allocated $46.8 million to this project for the full development cost. On June 28, 2011, Council authorized the City Manager to negotiate and execute a contract with Morley Builders for !E Santa Monica Redevelopment Agency Annual Report Summary, Fiscal Year 2010 -2011 peeconstruction and construction services of the Civic Auditorium Remodel & Seismic Upgrade. FY 2011 -2012: Analysis of existing conditions and prioritization of improvements will be complete in November of 2011 at which time the project design shall begin. Construction is anticipated to commence in early 2013 and completed in the summer of 2014. Expo Light Rail Enhancements. [Agency Immediate Funding Priority] FY2010 -2011: The Expo LRT will connect Downtown Los Angeles to Downtown Santa Monica with stations in Santa Monica at Bergamot Arts Center (Olympic /26th Street), Memorial Park /Mid -City (Colorado /17th Street) and Downtown (Colorado /4th Street). As part of its 2009 -2013 funding priorities, the Agency allocated $10 million for station enhancements. On May 24, 2011, as part of the Agency's updated available RDA funding and commitments approved by the Council and the Agency, Council authorized the City Manager to negotiate and execute a funding agreement between the City, Agency, and Expo and /or the Los Angeles County Metropolitan Transportation Authority (Metro) to provide funding of $16.5 million for basic construction of the light rail stations in Santa Monica. On June 28, 2011, Council further authorized the City Manager to negotiate and execute an agreement with the Expo Construction Authority for preliminary engineering services at the Bergamot and Memorial Park Stations. FY2011 -2012: The Exposition Construction Authority will continue accelerated design -build of the LRT line to Santa Monica and City staff will continue to review design and coordinate efforts with the Exposition Construction Authority. Completion of final design is anticipated in late 2011, and construction is anticipated to occur during 2012 -2015. Expo Green Street and Pathways [Agency Funding Priority] FY2010 -2011: This project will provide improved access to the new Santa Monica LRT stations described above and optimal integration of the LRT into the City. As part of its 2009 -2013 funding priorities, the Agency allocated $20.9 million to this project. In February 2010, Council awarded a contract to Cityworks Design to develop criteria for integrating the Expo LRT into Downtown while meeting all city standards. During the reporting year on April 12, 2011, Council reviewed and discussed planning concepts associated with the Colorado Esplanade and Station Plaza, Colorado Avenue Integration, Bike Network Improvements, and Downtown Expo Kv Santa Monica Redevelopmen t Agency Annual Report Summary, Fiscal Year2010 -2011 Circulation Enhancements. On May 24, 2011, as part of the Agency's updated available RDA funding and priority funding commitments, the Council allocated $12.4 million in redevelopment funds to carry out the Colorado Esplanade and Station Plaza component of this project. However, the design of the Colorado Esplanade and Station Plaza has been deferred to a separate contract to be initiated when the downtown stations terminus location and train alignment is finalized. This component is described in the Colorado Esplanade and Station Plaza section below. FY2011 -2012: Design of the Station Plaza and Colorado Esplanade has commenced as further described below. The Colorado Avenue Integration, Bike Network Improvements and Downtown Expo Circulation Enhancements related to this project will occur when additional funding becomes available. Colorado Esplanade and Station Plaza. (Agency Immediate Funding Priority] FY 2010 -2011: This project is a component of the Expo Green Streets and Pathways project described above. It is anticipated that this project will integrate the Expo LRT into the City by incorporating various improvements into the project scope that will improve pedestrian, vehicular, and bicycle travel between the Civic Center, Downtown, the Pier, and the new Palisades Garden Walk. The Expo LRT will traverse down Colorado Avenue at grade level to integrate with the urban fabric and the future vision for the downtown. Infrastructure improvements will be required to ensure that the grade -level transit line and station will effectively integrate into a key Downtown corridor. Initial design concepts for the Station envision a plaza at 4tb St. and Colorado Ave. During the reporting year, on May 24, 2011, as part of the Agency's updated available RDA funding and priority funding commitments, the Council allocated $12.4 million in redevelopment funds to carry out the Colorado Esplanade Project, including the required $3.3 million match for the awarded Metro Call for Projects Grant. On June 28, 2011, Council authorized the City Manager to negotiate and execute a not to exceed contract totaling $2,200,000 with Peter Walker and Partners Landscape Architecture for design, construction document preparation and construction administration services, and, a not to exceed contract totaling $235,235 with Atkins Company for environmental consulting services associated with the Colorado Esplanade Project. FY 2011 -2012: The City commenced Community outreach commenced in fall 2011, including discussions with adjacent property owners, the Planning Commission and a community 15 1 Santa Monica Redevelopment Agency Annual Report Summary, Fiscal Year 2010 -2011 workshop. Design is underway, and concept approval is anticipated for early 2012 with final approval later in the fiscal year. Civic Center Joint Use Project (CCJUP). [Agency Immediate Funding Priority] FY 2010 -2011: The CCJUP seeks to connect the School District's long -range plan to expand the Santa Monica High School campus with revitalization efforts underway in the civic center. Specifically, the CCJUP includes plans for new or redeveloped recreational and cultural facilities that the public could access when not needed by the high school, the creation of a Michigan Avenue pedestrian /bicycle promenade to facilitate public access through the campus, and subterranean parking. During the reporting period, in January 2011, the City and School District entered into an MOU for planning, design, project definition work, and initiation of environmental review for $1,084,000. On April 6, 2011, the School District Board approved an updated project description for the CCJUP. This includes the demolition and replacement of an existing gym facility (the "South Gym ") with a new permanent gym facility ranging in size from 33,000 square feet to 54,000 square feet. Additional improvements will include resurfacing the existing football field with synthetic turf and new support facilities to increase and expand the opportunities for more cultural activities at the existing 3,000 -seat Greek Theatre. On May 24, 2011, Council authorized staff to negotiate and execute an MOO with the School District based on the updated project that provides the terms and conditions for additional planning, completion of environmental review, design, entitlements, project development and management work, and provides that upon compliance with CEQA, construction of the CCJUP may proceed. On June 28, 2011, the City, the Agency and the School District executed the MOU to provide a stream of tax increment payments to the School District for implementation of the CCJUP. FY2011 -2012: The synthetic turf improvements on the existing football field were completed and a Grand Opening occurred on October 27, 2011. In the coming year, work will continue in space programming for the gym facility and Greek Theatre improvements concurrently with the preparation of environmental documents. Shared Parking. (Agency Funding Priority] IR Santa Monica Redevelopment Agency Annual Report Summary Fiscal Year 2010 -2011 FY2010 -2011: During the reporting year, the Shared Parking Assessment and Traffic Circulation study based on the Civic Center build out and phasing plan was completed. The study determined that shared parking within the Civic Center will require the full use of the current Civic Center surface parking area until 2016 and that no additional parking would be necessary during this period. Shared parking within the Civic Center will be put on hold until 2016 when use of the Civic Center surface parking area is no longer required for the interim parking plan. In the future, when Expo and the renovated auditorium are fully operating, further study of downtown circulation /parking needs will be conducted to determine an accurate demand analysis. FY2011 -2012: This project will resume in 2016 when use of the Civic Center surface parking lot is no longer required for the interim parking plan. C. Downtown Projects Downtown is adjacent to the Civic Center area of Santa Monica, and many of the projects in this section are connected to projects in the previous section due to their proximity. Projects in the Downtown area fulfill Implementation Plan goals of commercial revitalization and disaster mitigation. • Improvements to Parking Structures 7 & 8. FY2010 -2011: City staff and the Macerich Company successfully completed facade and parking control improvements, by August 2010 to coincide with the grand reopening of Santa Monica Place. During the program year, City staff completed negotiations with the future operator of the bike parking facilities within Parking Structures 7 and 8. Construction of the bike parking facilities commenced on March 2011. FY2011 -2012: The bike parking facilities were opened to the public in November 2011. • Downtown Parking Program. (Agency Funding Priority] FY 2010 -2011: At its September 8, 2009 meeting, Council endorsed the Walker Parking Study, which was a follow -up to the Downtown Parking Program adopted on May 9, 2006. The Walker Parking Study analyzed parking demand and operations in the Downtown area and proposed options for enhancement. Other than the additional parking spaces planned in the reconstruction of Parking Structures 1 and 6, the Study found that Downtown Santa Monica does not need additional public parking at this time. During the reporting year, Staff developed WA Santa Monica Redevelopment Agency Annual Report Summary, Fiscal Year 2010-2011 an interim parking plan to support the reconstruction Parking Structure 6 and encouraged downtown employees to park in the Civic Center Parking Facilities. In addition, staff successfully renegotiated the use of the previously reserved private parking area on the top floor of Parking Structure 2 to reopen for public use. FY2011 -2012: On July 26, 2011, Council approved the revised parking rates resolution, which authorizes City Manager to change the parking rates. Another parking rate study will be launched during the second quarter of FY 11/12. Additionally, on August 29, 2011, the City commenced a "Downtown Ride" shuttle between the Civic Center and Downtown Santa Monica to promote downtown employee use of the Civic Center Parking Structure. In the future, Staff will implement remaining Walker Parking Study recommendations as Council provides authorization, which includes expanded transportation demand management, alternative payment mechanisms, a review of parking staffing and policies, a maintenance program, a review of in -lieu fees, a valet program, an ongoing parking review process, and new ways to disseminate parking information. Parking Structure 2. FY2011 -2012: This project entails a seismic retrofit of the existing, nine -story Parking Structure 2, located at 1235 2nd Street. Construction on Parking Structure 2 began on June 1, 2010 and a notice of completion was recorded in March 2011. This project is now complete. Parking Structure 6. FY2010 -2011: The Downtown Parking Program (described above) calls for Parking Structures 1 and 6 to be demolished and rebuilt in the same locations with additional parking spaces. In November 2009, the City Council reviewed concept massing, urban design, circulation, and cost information presented by Planning staff. Council directed staff to proceed with the design of Parking Structure 6. On January 11, 2011, Council approved the concept design for Parking Structure 6 which will consist of three subterranean levels, eight above grade levels, approximately 750 parking spaces (a net increase of approximately 400 parking spaces as compared to the existing parking structure), and approximately 7,000 sq. feet of retail space. The structure will be a maximum height of 84 feet and will designed to achieve a LEED silver rating with components including but not limited to 30 electric vehicle charging stations, solar panels on the roof, and bike racks on the ground level to accommodate approximately 90 bikes. On March 31, 2011, an RFQ was issued for artists to design the art component of parking 18 1 Santa Monica Redevelopment Agency Annual Report Summary, Fiscal Year 2010 -2011 structure 6, which would be incorporated onto the alley side of the structure (rear of the structure). Council approved schematic design of the structure on April 26, 2011. FY 2011 -12: During the reporting year, the project achieved several milestones: 1) ARB approval of the design on July 13, 2011; 2) Coastal Commission approval of the project on July 14, 2011; 3) Artist selection for the project art component; and 4) approval by Council of 50% design development plans and approval to move forward with construction document preparation. Additionally, on September 27, 2011, staff returned to Council and got approval for the award of the Guaranteed Maximum Price contract with Morley for the construction of Parking Structure 6. Construction of the parking structure is anticipated to commence in spring 2012 and was completed at the end of 2013. Land Acquisitions. [Agency Funding Priority] FY2010 -2011: In 2009, the Agency allocated $27 million for property acquisition to achieve the goals delineated in the Downtown Parking Strategic Plan. During the reporting year, in November 2010, the Agency used this allocation to purchase a Ivey property located at 1301- 1333 4th Street. This parcel, along with other properties acquired by the City in prior years, accomplishes the assembly of 127,500 square feet of land to facilitate future public projects including light rail transit, public parking, affordable housing, and other public supportive commercial uses. The City conducted two community workshops in March 2011, to obtain ideas about what kind of development the community wanted to see built on the three -acre City - owned property located at 4th and 5th Streets at Arizona Avenue. In May 2011, Staff presented these ideas to Council and began evaluating various development options for the site. FY 2011 -2012: Staff is continuing to evaluate the various development options for the 127,500 square foot site, this evaluation period will continue through December 2011. A follow -up community meeting is planned for January 2012 to discuss the City's vision and objectives for future development of the site. This meeting will be followed by a presentation to Council by staff in early 2012 with development recommendations about this property. City staff will be requesting authorization to seek a developer for the site through an RFQ process, and have that developer coordinate their design efforts with the planning department to ensure that the new W Santa Monica Redevelopment Agency Annual Report Summary, Fiscal Year 2010 -2011 design plan for the site does not conflict with the Downtown Specific Plan that is currently being prepared by the Planning Department for the area. a Fire Station 1. (Agency Immediate Funding Priority] FY 2010 -2011: This project will fund the development of plans and specifications for a newly constructed Fire Station 1 (FS1), currently located at 1444 7th Street. The existing Fire Station 1 is a 57- year -old facility that services a significant portion of the Agency's Earthquake Recovery Redevelopment Project Area. Based on a recent study of the seismic integrity of FS1, the facility needs to be replaced in order to comply with current ADA accessibility guidelines as well as seismic and building and safety standards, and to meet the current needs of the fire department. The replacement fire station will be approximately 25,000 square feet and will feature basic improvements such as apparatus bays, dormitories, a training room, locker room, kitchen and dining facilities, storage and mechanical areas, and parking. During the reporting year on May 24, 2011, as part of the Agency's updated available RDA funding and commitments, Council allocated $3 million towards design work on this project, which is consistent with the disaster prevention and mitigation goals of the Earthquake Recovery Redevelopment Project Area. FY 2011 -2012: Request for Proposals for the design of Fire Station 1 is anticipated to be issued in early 2012. D. Other Projects The Redevelopment Agency is active well beyond the Civic Center and Downtown areas of Santa Monica. The projects in this section are occurring in other areas of the City, in neighborhoods and along commercial corridors that contribute to the vitality and livability of the City as a whole. Projects in this section fulfill Implementation Plan goals of disaster prevention and mitigation, commercial revitalization, and community revitalization. Traffic Signal Master Plan. [Agency Funding Priority] FY 2010 -2011: A multi - phased upgrade of the City's traffic signal technology will allow for centralized management of the City s 160 signals in real time to handle incidents, special events, and unique timing needs. Phase 1 and 2 were completed in previous years. Phase 3 construction began in the reporting year and will finish in the second quarter of fiscal year 2011 -2012. Phases 4A and 413 design work were completed during the reporting year. m Santa Monica RedevelopmentAgency Annual Report Summary, Fiscal Year2010 -2011 FY2011 -2012: On July 26, 2011 City Council approved the awards of contracts for the Phase 4A and 4B components of the Advanced Traffic Management System. Agency funding allocated in fiscal year 2009 -2010 will be used to purchase additional traffic signal equipment including video detection systems and cameras to monitor intersection traffic conditions, construction of Phases 4A and 413, and for various additional traffic signal upgrades within the City's Earthquake Redevelopment Project Area. • Palisades Bluff Stabilization. FY 2010 -2011: After the January 17, 1994 Northridge earthquake, various sections of the Palisades Bluffs were impacted by landslides, flows of debris and mud, and fractures. The damage was exacerbated by sloughing from the disaster level storms of 1995 and 1998. In 1998, the Palisades Bluff Stabilization Project received federal funding to fund some of the required improvements necessary to prevent future damage to this area, funding for these improvements was also supplemented by Redevelopment funds. In April 2010, the City completed implementation of the Palisades Bluffs Improvement project as recommended in the Geotechnical Study of the Palisades Bluffs (written in October 2004). The improvements included the installation of 82 new horizontal drains, and a demonstration of slope stabilization and surface treatment measures to determine the aesthetic impacts prior to broader implementation and debris removal. This phase of the project is now complete. During the reporting year, environmental review began on a subsequent phase of this project, which involves the area of the Palisades Bluff adjacent to the California Incline. FY 2011 -2012: It is anticipated that the environmental review phase of this project will be completed in spring 2012. Final design is expected to begin in spring /summer 2012 after the environmental document is considered by City Council. The implementation of the soil nails is anticipated to begin in 2013 concurrently with the California Incline reconstruction project. • Memorial Park Master Plan and Expansion. [Agency Funding Priority] FY2010 -2011: In 2004, the City invested $18.5 million to purchase the 2.9 -acre Fisher Lumber site at 1601 14th Street. The site is adjacent to Memorial Park and was purchased to expand recreational opportunities, supporting community priorities related to youth, sustainability, infrastructure and recreation, and active living. Park expansion also supports the goals of the City's Open Space Element and Parks and Recreation Master Plan. Although in 2009, the Redevelopment Agency prioritized $2.3 million in funding to supplement a budget 91 Santa Monica Redevelopment Agency Annual Report Summary, Fiscal Year 2010 -2011 appropriation of $1.9 million in FY08 -09 to fund a full Memorial Park master plan. On May 24, 2011, the City and Agency deferred the availability of the funding allocation for this project until additional funds become available to the Agency. Work on this master plan has not begun because staff is working with the Expo Authority to evaluate impacts the Expo Line will have on the site. The site also has the potential to address water infrastructure needs. Consultants working for the Water Resources Division of Public Works completed initial environmental reports on a 1 million gallon water storage reservoir that maybe located underneath the park. FY2011 -2012: Staff will continue working with the Expo Authority to evaluate the impacts and opportunities associated with the Expo Line. The findings will inform and support the development of a master plan for Memorial Park in the future Pico Branch Library. (Agency Immediate Funding Priority] FY2010 -2011: An 8,690 square foot neighborhood library will be built in the Pico neighborhood at Virginia Avenue Park, on the corner Cloverfield and Pico Boulevards. The library will enhance existing park amenities, including the weekly Farmers Market, Community Center, Teen Center, and Park Center Building. During the reporting year, on February 22, 2011, Council approved the concept design for the library. On May 24, 2011, as part of the Agency's updated available RDA funding and commitments, Council allocated $10.4 million in immediate Agency funding to construct the Pico Library based on the most recent cost estimate which was updated to reflect the absence of subterranean parking. Council authorized staff to proceed with the schematic design for Pico Library on February 22, 2011, and schematic design was completed on June 27, 2011. FY2011 -2012: Council approved a Conditional Use Permit, a Development Review Permit, and a parking variance for the Pico Branch Library on October 11, 2011. On October 17, 2011, the Architectural Review Board approved the design /development plans. The construction documents and permitting is anticipated to be complete by May 2012. Construction is anticipated to take place in summer 2012 for a 2013 opening. 20th Street and Cloverfield Streetscape Improvement Project. FY2010 -2011: This project includes construction of various streetscape enhancements on 20th Street and Cloverfield Boulevard between the Santa Monica Freeway (1 -10) and Pico Boulevard. During FY 2009 -10, staff completed the transportation system and traffic impact analysis, an 22 1 Santa Monica Redevelopmen t Agency Annual Report Summary, Fiscal Year2010 -2011 independent urban design review, and a review of the selected tree species by the Urban Forest Task Force. Staff also broadened the scope of the project to incorporate new Land Use and Circulation Element (LUCE) principles relating to bicycle and pedestrian connectivity, open space and landscaping, sustainability, and the role of streets as places for social interaction and recreation. On April 27, 2010, the City Council approved refined streetscape concept designs for the project and authorized the City manager to negotiate and execute a modification to the contract with Ahbe Landscape Architects to include additional street light circuit upgrades and traffic signal modifications. This 1/2 mile long streetscape design includes new street trees, landscape medians, street lighting, bulb -outs, permeable paving and infiltration planters, decorative crosswalks, sharrows, and improved accessibility for the sidewalks with new hardscape and curb ramps. During the reporting year, the project design was near completion, pending the issuance of an encroachment permit from Caltrans by December 2011. FY2011 -2012: The project is scheduled to go out to bid for a construction contract in January 2012 and for construction to begin in February 2012. It will take approximately ten months to complete construction. • Pier Improvements Agency Immediate Funding Priority] FY2010 -2011: A series of phased pier infrastructure improvement projects were identified in the Pier Infrastructure Assessment Study prepared by Moffatt and Nichol in November 2008. The study was adopted by the Santa Monica Pier Restoration Corporation on March 4, 2009 and presented to Council in May 2009, as an Information Item. On May 24, 2011, as part of the Agency's updated available RDA funding commitments, the Council authorized the allocation of $5.63 million in RDA funds to fund pier improvements including Phase IV improvements, carousel floor and substructure repair, and Newcomb Deck infrastructure upgrades. The Phase IV Improvement project will replace wood pilings with concrete pilings in an area west of Pacific Park. This section of the pier currently has limited capacity to support the weight of emergency vehicles and the existing timber substructure has a limited life and higher maintenance costs than concrete piles. During the reporting year, the City contracted with URS to prepare design /build plans for this project. The $700,000 of RDA funding for Phase IV design /build plans supplements other City funds that have been dedicated to this project. FY2011 -2012: On August 23, 2011, Council adopted a resolution approving the Mitigated ive Declaration that covered the Phase IV structural upgrades, and authorized the 23 Santa Monica RedevelopmentAgency Annual Report Summary, Fiscal Year 2010-2011 Director of Public Works to proceed with the development of bidding documents. To date, URS has completed schematic design. Construction on Phase IV is anticipated to begin in 2012. 241 Santa Monica RedevelopmentAgency Annual Report Summary, Fiscal Year2010 -2011 EXHIBIT 1 Projects According to Implementation Plan Goals A. Disaster Prevention and Mitigation Downtown Parking Program [Agency Funding Priority] Parking Structure 2 Parking Structure 6 Facade Improvements to Parking Structures Land Acquisitions [Agency Funding Priority] Palisades Bluff Stabilization Fire Station 1 [Agency Immediate Funding Priority] Pier Improvements [Agency Immediate Funding Priority] B. Commercial Revitalization Improvements to Parking Structures 7 & 8 Exposition Light Rail Enhancements [Agency Immediate Funding Priority] Colorado Esplanade and Station Plaza [Agency Immediate Funding Priority] Traffic Signal Master Plan [Agency Funding Priority] C. Community Revitalization Palisades Garden Walk [Agency Immediate Funding Priority] Freeway Capping [Agency Immediate Funding Priority] Civic Auditorium District Projects [Agency Immediate Funding Priority] Civic Auditorium Renovation [Agency Immediate Funding Priority] Shared Parking [Agency Funding Priority] Memorial Park Master Plan and Expansion [Agency Funding Priority] Pico Branch Library [Agency Immediate Funding Priority] 2001 Street and Cloverfield Streetscape Improvement Project D. Institutional Revitalization Civic Center Joint Use Project (CCJUP) [Agency Immediate Funding Priority] E. Affordable Housing [Agency Immediate Funding Priority] W New Construction and Rehabilitation of Affordable Units Line of Credit - Leveraging Set -Aside Funds Senior Homeless Prevention and Rental Assistance Programs 175 Ocean Park Boulevard Santa Monica RedevelopmentAgency Annual Report Summary, Fiscal Year2010 -2011 Attachment B Macias, Gini & O'Connell Independent Auditor's Report (Draft Financial Statements) Fiscal Year 2010 -2011 THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA, CALIFORNIA BASIC FINANCIAL STATEMENTS YEAR ENDED JM 30, 2011 TABLE OF CONTENTS FINANCIAL SECTION IndependentAuditors' Report ............................................................................ ................ ................ 1 Management's Discussion and Analysis (Required Supplementary Information ) ............................ 2 Basic Financial Statements: Agency -wide Financial Statements: Statementof Net Assets ................ :................. ............... ...................................................... Statementof Activities .......................................................................... ............................... Fund Financial Statements: Balance Sheet — Governmental Funds ................................................... ............................... Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Assets..... .......... ............ ............... ......... : ................................................... ..................... Statement of Revenues, Expenditures, and Changes in Fund Balances — Govermmental Funds........... ......... __ .............................. ..................... ........ ....... ............................... ..... Reconciliation of the Statement of Revenues, Expenditures, and Changes in. Fund Balances to the Statement of Activities .............................. ............................... Notes to Basic Financial Statements: Note 1— Summary of Significant Accounting Policies ............. ............................... Note 2 — Cash and Investments ........................................ ............................... Note3 —Notes Receivable .............................................. ............................... Note4 — Capital Assets ..................................................:. ................I.............. Note 5 — Other Liabilities ...................................................... ............................... Note6 — Long Term Debt .............................................. ............................... Note 7 — luterfund Transactions .................................................... ............................... Note 8 — Master Cooperation Agreement .............................................. ............................... Note 9 -- Litigation and Contingencies .................................................. ............................... COMPLIANCE SECTION 10 11 12 13 14 15 16 22 25 28 29 30 33 34 34 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 GovernmentAuditing Standards .................................................................. ............................... 37 Independent Auditors' Report The Board Members of The Redevelopment Agency of the City of Santa Monica, California: To be provided by MGO December xx, 2011 REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Management's Discussion and Analysis, (continued) 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 financial activities of the Agency for the fiscal year ended June 30, 2011. We encourage readers to consider the information presented here in conjunction with additional information that we have famished in the Agency's basic financial statements, which immediately follow this section. Financial Highlights The total assets of the Agency were less than its liabilities as of June 30, 2011 ("fiscal year ") by $94.7 million. Of this amount $74.5 million is restricted for use as specified by entities outside the agency, $6.7 million is restricted for the payment of debt service and ($175.9) million is unrestricted for use in accordance with finance- related requirements reflected in the Agency's fund structure. The Agency's net assets decreased by $250.9 million during the fiscal year. At the end of the fiscal year, the Agency's governmental funds reported combined ending fund balances of $188.3 million, an increase of $59.6 million from the prior year. The Agency's investment in capital assets decreased by $150.7 million. Please see further detail of capital assets on page 7. The Agency's total debt increased by $159.7 million during the current fiscal year. Please see further detail of long -term debt on page 30. Overview of the Basic Financial Statements This discussion and analysis is intended to serve as an introduction to the Agency's basic financial statements. The Agency's basic financial statements consist of three components: 1) Agency -wide financial statements 2) Fund financial statements 3) Notes to basic financial 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 functions of the Agency that are principally supported by property tax increment and bond proceeds. The governmental activities 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 financial statements can be found on pages 10 and 11 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 activities 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 financial statements. However, unlike the agency -wide financial statements, governmental fund financial 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 financial statements, it is useful to compare the information presented for governmental funds with similar information 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 13 and 15 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 financial statements can be found on pages 12 and 14 of this report. Notes to Basic Financial Statements The notes provide additional hnformation that is essential to a full understanding of the data provided in the agency -wide and fund financial statements. The notes to the basic financial statements can be found on pages 16 — 36 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 activities. 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 (deficit) Invested in capital assets, net of related debt Restricted Unrestricted Total net assets (deficit) 2011 2010 Change $ 203.5 138.2 65.3 - 150.7 (150.7 203.5 288.9 (85.4) 21.5 45.4 (23.9) 276.9 87.3 189.6 298.4 132.7 165.7 - 81.3. (81.3) 81.2 28.5 52.7 (175.9) 46.4 (2223) $ (94.7) 156.2 As noted earlier, net assets may serve over time as a useful indicator of the Agency's financial position. In the case of the Agency, assets exceeded liabilities by $104.5 million at the close of the most recent fiscal year. By far the largest portion of the Agency's liabilities reflects its bonded and other indebtedness, totaling $282.7 million. The Agency, operating under California Redevelopment Law, must maintain indebtedness in excess of its available revenues to legally receive property tax increment revenue. Capital assets decreased by $150.7 million due to the acquisition by the City of Santa Monica of all Agency capital assets under a Master Cooperation Agreement. The increase in current and long -term liabilities was due to line of credit draws, issuance of loans and notes payable and issuance of tax increment bonds, partially offset by debt service payments. 11 REDEVELOPMENT AGENCY Or THE CITY OIL` SANTA MONICA Management's Discussion and Analysis, (continued) Governmental Activities Governmental activities decreased the Agency's net assets by $250.9 million. Key elements of this decrease are as follows: Agency Changes in Net Assets - Governmental Activities (in millions) Revenues Program revenues Charges for services General revenues Property tax increment Investment income Miscellaneous Total revenues Expenses Housing and community development General govormental Interest on long -term debt Total expenses Decrease in net assets Net assets - beginning of year Net assets - end of year 2011 2010 Change (0.1) 56.3 56.1 02 0.4 1.2 (0.8) 3.0 0.8 2.2 59.7 58.2 .1.5 299.2 40.0 259.2 4.3 20.9 (16.6) 7.1 6.2 0.9 310.6 67.1 243.5 (250.9), (87) (242.0) 156.2 165.1 (8.9 $ (94.7) 156.2 (250.9) Property tax increment revenues net of pass throughs of $56.3 million are the Agency's major source of revenue. This revenue increased by $0.2 million or 0.04% from the prior year due to property tax increment revenues increasing as a result of Santa Monica Place opening offset by a slight reduction in assessed values. General government expenses of $4.3 million represents a mandatory payment under AB 26x4 which requires redevelopment. agencies to remit to their county Special Education Revenue Augmentation Fund ( "SERAF ") a proportionate share of $1.7 billion for fiscal year 2009 -10 and $350 million for fiscal year 2010 -11. Investment earnings of $0.4 million were received from investments of available funds. 5 REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Management's Discussion and Analysis, (continued) Redevelopment activities expenses of $299.2 million shown on the statement of activities consists of: Agency Redevelopment Activities (in millions) Redevelopment and public improvement project operating costs $ 7.7 Redevelopment and public improvement project costs 266.0 Low and moderate housing projects 23.4 Depreciation and amortization 2.1 Total redevelopment activities expenses $ 299.2 Redevelopment and public improvement project, operating costs of $73 million are comprised of operating expenses such as administrative fees charged by the County for collection and disbursement of property tax increment ($1.3 million), operating transfers to the City of Santa Monica General Fund ($0.3 million), payment to the General Fund in accordance with a reimbursement agreement in conjunction with each project area ($3.4 million), the lease payment for the Ocean Park. Boulevard Housing Project ($0.2 million) and administrative indirect costs ($0.2 million). Redevelopment and public improvement costs of $266.0 million primarily represents the City of Santa Monica's acquisition of the Agency's capital assets under an option of a master cooperation agreement of $199.2 million, payments of $3.7 million to the Parking Authority of the City of Santa Monica under a sale /purchase agreement for six parking structures, See note 5. Additional expense consists primarily of $53.5 million in payments to the City of Santa Monica under a Master Cooperation Agreement. An additional $2.2 million was for seismic retrofit of parking structures. Finally the amount includes a payment due under a cooperation agreement with the Santa Monica Malibu Unified School district of $5.8 million. Low and moderate housing project expenditures of $23.4 million are primarily comprised of $16.3 million paid to the City of Santa Monica under a Master Cooperation Agreement. Financial Analysis of the Agency's Funds As noted earlier, the Agency uses fund accounting to ensue and demonstrate compliance with finance - related legal requirements. Governmental Funds The focus of the Agency's governmental funds is to provide information on near -term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the Agency's financing 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, 2011, the Agency's governmental funds reported total ending fund balances of $188.3 million, which is an increase of $59.6 million from the prior year. The fund balance of $190.6 million is non - spendable to indicate that it is not available. $7.4 million is restricted for debt service. The fund REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Management's Discussion and Analysis, (continued) balance of $0.8 million is assigned for continuing capital projects. The remainder of the fund balance, ($10.5) million, is unassigned. The key elements of the $65.4 million increase in fund balance from the prior year was proceeds from the loan and notes payable, the issuance of tax increment bonds offset by the payments under a master cooperation agreement with the City of Santa Monica. Major Funds The Low/Mod housing fund balance increased by $17.1 million primarily due to payments made to the City of Santa Monica under a master 'cooperation agreement of $16.3 million offset by line of credit draws of $26.5 million and property tax increment of $14.7 million. The Downtown Project fund balance decreased $0.5 million primarily due to payments to the City of Santa Monica under a master cooperation agreement of $0.4 million and repayment of advances of $1.8 million. The Earthquake Recovery Project fund balance increased $49.2 million primarily due to issuance of a loan and notes payable of $IO2.0 million, issuance of tax increment bonds of $41.1 million and payments to the City of Santa Monica under a master cooperation agreement of $53.5 million and pass through and SERAF payments to other agencies of $21.7 million over the prior year, plus by a decrease in property tax increment of $0.9 million. The Ocean Park Project fund balance decreased $0.8 million due to payments to the City of Santa Monica under a master cooperation agreement of $2.1 million. Capital Asset and Debt Administration CupitalAssets During the year ended June 30, 2011, the City of Santa Monica exercised an option in the Master Cooperation Agreement to acquire all of the Agency's capital assets for $319.9 million as a payment against the Master Cooperation Agreement. As such there are no Agency capital assets as of June 30, 2011. See Note 9. REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Management's Discussion and Analysis, (continued) This investment in capital assets included parking structures, buildings, land, and equipment. This investment is detailed below: Agency Capital Assets - Governmental Activities (in millions) 2011 2010 Land $ 104.0 Buildings, parking structures, and improvements 43.5 Improvements other than buildings 11.0 Construction in progress Subtotal Less accumulated depreciation Total Long -Term Debt 11.0 169.5 (18.8) 150.7 At the end of the current fiscal year, the Agency had total long term debt of $285.5 million. The debt is secured solely by tax increment. The. Agency's total debt increased by $159.7. million or 230.0% during the current fiscal year. The increase was primarily due to draws on the Low/Mod fund line of credit of $26.5 million, issuance of notes and loan payable of $102.0 million, issuance of tax allocation bonds of $41.1 million offset by scheduled debt service payments on the Earthquake Recovery Project, Ocean Park Redevelopment Project, notes payable and advances from the City of Santa Monica. Time limitations on incurring debt are as follows: Project area Time limitation to incur debt Ocean Park IA 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: Ocean Park Redevelopment Project Tax Allocation Bonds, "BBB +," "gaal" and "A;" , Earthquake Recovery Redevelopment Refunding Project Tax Allocation Bonds, "AAA", "AAA" and "AW' and the Earthquake Recovery Project Tax Allocation Bonds, "AA" and "AA- -" Additional information on outstanding long -term liabilities may be found in note 6 of the notes to basic financial statements. REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Management's Discussion and Analysis, (continued) Economic Factors and Next Year's Budget The assessed value of property is estimated to rise in the Downtown Redevelopment Project Area as a result of standard minimum increases especially since the reopening of Santa Monica Place in August of 2010 and subsequent leasing; increase in assessed value in the Earthquake Redevelopment Project area and in the Ocean Park Project area as a result of general recovery in the real estate market. . 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 4W 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 (www.smgov.net). THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Statement of Net Assets June 30, 2011 Assets: Cash and investments with fiscal agents (note 2) $ 7,445,892 Accounts receivable - 8,010 Interest receivable 115,445 Property tax increment receivable 3,592,967 Unamortized bond issuance costs, net 1,718,991 Notes receivable (note 3) 46,781,148 Prepaid expenses 143,790,906 Total assets 203,453,359 Liabilities: Accounts payable and other liabilities 1,060,393 Accrued interest payable on bonds 1,993,331 Contracts retainage payable 180,838 Due to other agencies 12,182,807 Noncurrent liabilities (note 6): Due within one year 6,365,389 Due in more than one year 276,325,036 Total liabilities 298,107,794 Net assets Restricted: Low- and moderate - income housing 74,455,970 Debt service 6,746,729 Unrestricted (175,857,134) Total net deficit $ (94,654,435) See accompanying notes to basic financial statements. 10 TAE REDEVELOPMENT AGENCY OE THE CITY OF SANTA MONICA Statement of Activities Year Ended June 30, 2011 klnctioulprograms: Governmental activities: Housing and community development General government Interest on long-term debt Total governmental activities General revenues: Property tax increment Investment income Miscellaneous Total general revenues Change in net assets Net assets — beginning ofyear Net deficit —end of year Net (expense) revenue Pro ram Revenues and changes Charges Uperflting rants apita Grans to net assets Expenses for Servlces and Contributions and Contributious Total $ 299,200,148 -- (299,200,149) 4,299,520 — — (4,299,520) 7,036,246 (7,036,246) 310,535,914 (310,535,915) See accompanying notes to basic financial statements. 56,324,712 427,933 2,951,401 59,704,046 (250,831,869) 156,(77,434 $ (94,654,435) N Assets Cash and investmentt with focal agents Accounts receivable Interestreceivable Property lax increment receivable Notes receivable Prepaid ecpenses Due 5om other find Total assns Liabilities and Fond Balsam Liabilities: Accounts payable andaeeneed liabilities Contracts retainagepayable Due to other agencies Due to other funds Total liabilities THE REDEVELOPMENTAGENCY OFTHE C1TY OF SANTA MONSCA Balance Sheet - Govemmemal Funds June 30, 2011 Earthquake Do"tawo Debt Service Low/Mod Redevelopment RedeveOpment Housing - P %ioct $ 6,746,729 114,014 - - 45,079 4,862 - 955,977 833,909 - 41,745,753 I,923,000 - 32,342931 801,303 716,669 56,152 49.032 $ 6,746729 75,259906 1.612,106 Earthquake Recovery Oceaa Park Total Redevelopment Redevelopment goveramentel Project Project funds 30,824 554,326 7,445,893 8,0I0 554,326 8,0I0 53,446 I2,058 115,445 1,727,774 75,307 3,592,967 716,669 2,395,726 46,781,148 106,458,149 4,188,523 143,790,906 Total find balances I2,304 117,488 108,994,872 7,238,244 201.851,857 S - 803 ,936 12,212 244,245 - - 180,838 31,727 12,I51,080 I17,488 803,936 43,939 I2.693,651 1,060,393 180,838 12,182,807 _ 117,488 13,54L526 Fund bahmees: Nonspendable 74,088,684 2,724,303 107,174,818 6,584,249 190,572,054 Restricted 6,746,729 114,014 30,824 554,326 7,445,893 Assigned for continuing capital projects - 253,272 472,428 - 99,669 825,369 Unassigned - 371,436 (10,904,421) - (10,532.985) Total find balances 6,746,729 74,455 ,970 3,568,167 96,301,221 7233244 188310,331 Twat liabilities and fund balances $ 6,746,729 75,259,906 3612,106 108,994,872 7,238.244 201,851,857 See accompanying notes to basic financial statements. THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Deficit June 30, 2011 Total fund balances - governmental funds $ 188,310,331 Amounts reported for governmental activities in the statement of net assets are different because: Bond issuance costs are expended in governmental funds when paid and are capitalized and amortized over the life of the corresponding bonds for purposes of the statement of net assets. Deferred charges net of accumulated amortization 1,718,99I Long -term liabilities are not due and payable in the current period arid, therefore, are not reported in the balance sheet of governmental funds: Tax allocation bonds, net $ (103,525,971) Loans payable (101,068,020) Advances from the City of Santa Monica (28,096,434) (232,690,425) Line of credit liabilities me not due and payable in the current period and, therefore, are not reported in the balance sheet of governmental funds. (50,000,000) Interest payable on long -term debt does not require the use of current financial resources and, therefore, interest payable is not accrued as a liability in the balance sheet of governmental funds. (1,993,331) Rounding Net deficit of governmental activities See accompanying notes to basic financial statements. 13 (1) $ (94,654435 a THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Statement of Rnvmues, Expenditures, and Changes in Fund Balances Governmental Funds Year Ended7ime30, 2011 Revenues: Property tax increment Investment income Other Total revenues Expenditures: Cutrene Housing and community development Payments to the City ofSamaMonies Pasethroughpaymenis ER9F payment Debt service' Principal Interest expense Total expenditures Dcficimcy ofrevenues under expenditures Other financing sources (uses} Proceeds of advances Repaymontofadvance Transfers in (note 7) Transfers out (note 7) Proceeds from line oferedit draws Proceeds from debt issuance Premium on bonds issued Defeasence of bond Total other financing sources (uses) Nmchmge in fwd balwces Fund balance: Beginning of year End ofymr See accompanying notes ea basic financial statements. Capital Projects Earthquake Project Downtown Recovery Oman Park Total Debt Service LowXod Redevelopment Redevelopment Redevelopment governmental edeyopm�ent Homing Project - Project Project funds $ 14,747,191 2241,835 53,688,112 3,058,814 73,735952 97999 245,288 13,624 34,551 37,171 427,933 546,033. 16,564 2,311,890 76909 2,951,396 97,299 15 ,538 ,512 2,272,023 56,034,553 3,172,894 77,115,281 — 7,107,799 600 ,591 68,19I,388 $41,698 76,441,476 16,252,797 402,666 53,486,742 2,104,794 72,246,999 — — — 17,41I,237 — 17,411,237 — — — 4.299,520 — 4,299,$20 2,940,000 — — 1,431,980 — 4,371,980 3,179,601 419,442 1,423,447 841,813 808,235 6,672,538 ' 6.119,601 23,780,038 2,426,704 145.662,680 3,454,727 181,443,750 (6,022202) (824I,526) (154,681) (89,628,127) (281,833) (104,328,469) — — 1,423,447 808,235 2,231,682 — — (1,775,000) (5,125,506) — (6,900,506) 6,453,602 — — — — 6,453,602 — (794971) — (4,324,982) (1,333,649) (6,453,602) — 26,528,395 — — — 26,528,395 — — — 143,550,000 — 143,550,000 — — 409,674 — 409,674 (380000) (1,520,000) (1900,000) 6,45,602 25,353,424 (351553) 132,989,186 (525,414) 163,919,245 431,300 17,1I1,898 (506,234) 43,$61,059 (807247) 59,590,776 6315,429 57,344,072 4,074,401 52,940,162 8,045.491 128,719,555 $ 6,246729 74,455970 3,568,167 96301221 7,238.244 188,310,331 . THEREDEV3%OPhIWTAGENCY OFTHE CITY OFSA YFAMOMCA 11eeolic9bulion oftho StalamentofRom ues, Expenditures, and Changes in Fund Dal now to the Su nonfat ofActivities Year Ended lure 3 0. 2011 Net aherg *in fund balance— govern mental Ponds 5 59,590,796 Am. an, capered far gwemmental aetivi is, in Use moserrnt ofb"iAlies ue dlffcm.tleamma Gomm er mlel funds report mpimi omtays as expenditures. Hmvever, in thestotement of activities die east of these .,sees are allocated over their estimated useful Items and rap0nedas depr¢dation oxpenso. ThacompOnenU OfwplUl outmy related asm n r mpaned In the statement ofaaivides far the current pedod sm or follmea: Con, mpitdlaed In" to oaemated red o..boamenl projc01 costs $ 50,595,584 Depmdiums expense (2,105,483) Acquisitor ofCapmal Assets by no City offienst Water _099,170,597) (150,690,496) Bond is,usnce astame expended ingovemmenml funds some. paid, homes, are eopialieed and amenived over the life afthe corresponding debt for the purposes oftme smtemem ofunlvifrs. CLSentymrain*ndmtur. (90,026) Immune noston bonds Issued in PY2010q 1 940,308 Repaymeneoflong -tam( debt principal is mpOned asap im andilme in gavasnmaml fonds and,tims, has the effect ofredodng fond balance bemuse current flnamoial resources have be. used. However, Um pdndped paymenU man. the liabilities in 0o statement *fuel assets and do not msult in an expense in Wostatemmnt of beflAtim. The Agony's long -tens debt,vasfedi ad James. principal payments avem made to boadh lil,am Tex allocation bonds fietimis ).pens payable 1,431,980 Draws entire lino ofmaditarc m*ned as whersouraa in the gover metal funds. I1oneum died.,. I.. liabilities in thematemmt ofmassremand d* n0immit in roamom in thostBlamanlofadiviti0f (26,528,395) ISSVPnC00fIa%8110CPdOM1 bonds and Rmlad premium 1¢ Rmarld am oth.reonrcm I. thegovemmanml finds. Howeverthe l ndsia,mosm liabilities in thestalement ofmtaaegand do notrosnit im mmunoin nosmmmcnt ofed(vltio (41,459,674) msmmaofloins payable ismaNed u dlhar,mr. in Neigemorma nUl funds.Ho,vover the loans incr¢asalieb{litiu in thesutemantofinetasseU and do outrank inmmonin rhosmlenrantofaotivities (102,500.000) Advmccsmd rapaymentofad. aromponad as revenues and expadimms in - govemmu ml fuhdrand thus, hasthaeNcctofreducing Pond bamncebemuse natfsno.cmI rseufces have been used, "moe veq advances and fn'imardtof adeanus huma relmduco the liabilities in the summon ether, assets and do not remit in iname/oxpaeo in dininetement oPactivitier. Tha Aeeneyas advances foes. imemeardrredaoed humus. fdi. netadvanus/psymmus made to therm. holder. RepaSVmat fAd.. hem the City oeSmm Monica 61908506 Advances from the City efSmm Monies (2,231,681) Accred interest expense an long -rem debt ismponed I. the stalvarea.faativlfi05 but derma( bairn the a,. ofeum nt Immelal moomem. Amonimtion abroad premiums, dism r m and defaned summus on mauling noexFormal as d component oflnlemst oxpenso on the smarmiest orntivides. This amount remmenta the hetnoemed interest nvperm and die nmmtimti*. orw.d premiere, dimewansond damned mounmon mmndt, noto,mmil in ilmor mental finds. Increase in armed lnlonatexpenso (166,254) Amoniarli of ofb*nd pmmiom ilimeart 2 ,546 AmoniaeGOn ofdefened aammus upon refunding (181,459) (545,167) Change in rat--% ofgavemmeand rativities $00 inampanyln$ 901010 bards Fm aliAI stela suht,. 15 S 250,811,869) REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements Year Ended June 30, 2011 (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 standard 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 four project areas: the Downtown Redevelopment Project Area, the Earthquake Recovery Redevelopment Project Area and the Ocean Park Redevelopment Project Areas IA and 1B. 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 2 "a Street to the west. The project consists of Santa Monica Place, a large retail center that is owned and operated by the Macerich Company. The project also includes two parking structures owned by the City of Santa Monica that provide 1,843 parking spaces. Santa Monica Place underwent a substantial remodel that began in 2008, and the center re- opened in August 2010. The Agency made significant improvements to Parking Structures 7 & 8, which re- opened in conjunction with the mall in the summer of 2010. Improvements included renovating the fapades, converting the structures to full -day automated parking, installing parking controls, and other related capital improvements. 16 REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements Year Ended June 30, 2011 Earthquake Recovery Redevelopment Project The City Council adopted the Redevelopment Plan for the Earthquake Recovery Project on June 21, 1994. The project is 2.9 square miles bounded to the east by Cloverfield Boulevard and 26`s 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 structures predominantly 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 area. To date the Earthquake Recovery Project has funded disaster prevention and mitigation, commercial revitalization, community revitalization and institutional projects. Ocean Park Redevelopment Project Areas The Ocean Park Redevelopment Project areas are Ocean Park Redevelopment Project 1A and Ocean Park Redevelopment Project Area 1B. The City Council adopted the Redevelopment Plana for the Ocean Park Redevelopment Project IA on June 30, 1960. The Redevelopment Plan was amended 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, Nielson Way to the east, Ocean Park Project 113 to the south and the State beach parking 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 Park is also contained in the project area. The City Council adopted the Redevelopment plan for the Ocean Park Redevelopment Project ArealB 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 JA to the north, Nielson 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 has two senior citizen residential apartment complexes, Nielson Villas and Barnard Park Villas, which contain 100 and 61 rental units respectively. A former utility building within the project was adapted to offices and art storage for the Eli Broad Trust Art Foundation. 17 REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements Year Ended June 30, 2011 Project Area Time Limits For the Ocean Park Redevelopment project areas, 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 area is January 1, 2022. The time limit for incurring agency indebtedness for the Downtown Redevelopment project was eliminated by ordinance on January 13, 2004. Plan activities for the project area are to cease by January 13, 2019 and the time limit for receiving property tax increment and paying off debt for the project area is January 13, 2029. For the Earthquake Recovery Plan Project Area, 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 other six members of the City Council. Consequently, the Agency's financial statements are blended in the City's basic financial statements. (c) Basis ofAccounting and Measurement Focus The basic financial statements of the Agency are composed of the following: • Agency -wide financial statements • Fund financial statements • Notes to basic financial statements Aaenev -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 interiand activity has been eliminated in the Statement of Activities. The Agency provides only governmental activities which are supported principally by property tax increment revenue. Agency -wide financial statements are 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, regardless of the timing of related cash flows. Property tax increment revenue is recognized in the year for which it is levied. 18 REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements Year Ended .June 30, 2011 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 are reported as a reduction of the related liability, rather than as expenditures. In the Agency -wide financial statements, net assets are.classified ht the following categories: Invested in Capital 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 that are attributable to the acquisition, construction or improvement of these assets reduce this category. Restricted Net Assets: This category presents external restrictions imposed by creditors, grantors, contributions or laws or regulations of other governments and restrictions imposed by law through constitutional 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, food 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 accounting 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 are defined as available to finance current period expenditures and are accrued to properly reflect the revenues earned. Revenues which are susceptible to accrual include property tax increment, interest income, and rental income. All governmental funds are accounted for on a spending or "financial 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 finrd 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. As prescribed by GASB Statement No. 54, govermnental funds report fund balance in classifications based primarily on the extent to which the Agency is bound to honor 19 REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements Year Ended June 30,2011 constraints on the specific purposes for which amounts in the funds can be spent. As of the June 30, 2011, fund balance for government funds are comprised of the following:, Nonspendable Fund Balance: This category includes inventories, prepaid items and other items, that by definition cannot be appropriated. Restricted Fund Balance: This category includes amounts that can only be used for specific purposes stipulated by constitution, external resource providers, or through enabling legislation. Committed Fund Balance: This category includes amounts that can only be used for specific purposes determined by a formal action of the Agency Board. The Board has the authority to establish, modify or rescind a fund balance, commitment. Unassiered Fund Balance: This category includes the residual classification of the Agency's funds and includes all spendable amounts not contained in the other classifications. (d) Major Funds The Agency considers all of its funds as major governmental funds, They, are: The Capital Projects Funds are as follows: 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 Redevelopment Debt Service Fund is used primarily to account for repayment of principal and interest on long -term indebtedness of the Agency. (e) Investments Investments are stated at fair value and generally consist of federal govermnent- backed securities. In order to maximize investment returm, 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. hrterest 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. 20 REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements Year Ended June 30, 2011 The Agency's investments are stated at fair value. Fair value is determined based upon market closing prices or bid /asked prices for regularly traded securities. The fair value of mutual funds, government - sponsored investment pools and other 'similar 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 calculation 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. 09 Loug -Term Liabilities In the Agency -wide financial statements, long -term debt and other long -term liabilities are reported as liabilities in the statement of net assets. In the fiord 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 are reported as other financing sources while discounts on debt issuance are reported as other financing 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 year. 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 year property tax assessment. A property tax base year is determined to be the year prior to the establishment of a redevelopment project area. (b) Low and Moderate Income Housing Cinder 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, 2011, the net cumulative unspent low - and moderate - income housing set aside funds have been obligated by the Agency and are included in the Low and Moderate Income Capital Projects Fund for 20% set aside. 21 REDEVELOPMENT AGENCY OF THE CI'T'Y OF SANTA MONICA Notes to Basic Financial Statements Year Ended June 30, 2011 (i) Use of Estimates The preparation of financial statem ents in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the repotted 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. 0) Capital Assets Capital assets are recorded at cost where historical records are 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 assets are defined by the Agency as assets with an initial cost in excess of $50,000 and an estimated life in excess of five years and buildings, parking structures and improvements other than buildings with an initial cost in excess of $100,000 and an estimated useful life of twenty years or more. Capital assets of the Agency are depreciated using the straight -line method over the following estimated useful lives: Assets Years Building, parking structures and improvements 20 to 50 Improvements other than buildings 20 to 30 Machinery and equipment 5 (2) Cash and Investments Cash and investments as of June 30, 2011 are classified in the accompanying financial statements as follows: Statement of Net Assets: Cash and investment with fiscal agent $ 7,445,892 Total cash and investments $ 7,445,892 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 the 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 22 REDEVELOPMENT AGENCY OF THE CITY Or SANTA MONICA Notes to Basic Financial Statements Year Ended June 30, 2011 pool is reported in the accompanying financial 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. Detailed information concerning the City's pooled cash and investments, including interest rate risk, credit risk, and concentration of credit is addressed in the City's Comprehensive Annual Financial Reports for the year ended June, 30, 2011. At June 30, 2011 the Agency had no monies in the City of Santa Monica investment pool. 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. Maximum Maximum Authorized Maximum Percentage Investment Investment Type Maturity Allowed in One Issuer U.S Treasury Obligations Federal Housing Administration Debentures U.S. Agency Securities Time Deposits Unsecured Certificates of Deposit Banker's Acceptances State Obligations Repurchase Agreements Pre-refunded Municipal Obligations Commercial Paper Money Market Mutual Funds Investment Contracts Disclosures Relating to Interest Rate Risk None None None None None None None None None None None None 180 days None None 180 days None None None None None I year None None None None None 270 days None None None None None 30 years None None 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 sensitivity 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 time 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 23 REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements Year Ended June 30, 2011 distribution of these investments by maturity. For purposes of this sohedule, callable securities are assumed to be held to maturity: 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 statistical rating organization. Presented below is the minimum rating required by (where applicable) the California Government Code, the City's investment policy, or debt agreements, and the actual rating as of yearend for each investment type. Remaining Maturity (in Months) Minimum 12 Months 13 to 24 25 -60 More than Investment Type or less Months Months 60 Months Held by bond trustee: Money market funds $ 5,697,540 U.S. agency securities 1,748,352 - - Total $ 7,445,892 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 statistical rating organization. Presented below is the minimum rating required by (where applicable) the California Government Code, the City's investment policy, or debt agreements, and the actual rating as of yearend for each investment type. Concentration of Credit Risk No investments in any one issuer (other than U.S. Treasury secmities, mutual funds, and investment pools) represents 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.). 24 Minimum Legal Investment Type Total Rating AAA Held by bond trustee: Money market funds $ 5,697,540 AA 5,697,540 U.S. agency securities 1,748,352 N/A 1,748,352 Total $ 7,445,892 7,445,892 Concentration of Credit Risk No investments in any one issuer (other than U.S. Treasury secmities, mutual funds, and investment pools) represents 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.). 24 REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements Year Ended June 30, 2011. Custodial Credit Risk The Agency does not have significant separate certificates of deposit or demand accounts held by bond trustee that are subject to disclosabte 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. (3) Notes Receivable Redevelopment Activities Community Corporation of Santa Monica (a) $ Community Corporation of Santa Monica (b) Step Up on Fifth L.P. (c) Low income senior housing (d) Community Corporation of Santa Monica (e) Santa Monica Housing Partners, Ltd. (f) Community Corporation of Santa Monica (g) Community Corporation of Santa Monica (b) Community Corporation of Santa Monica (i) FAME Santa Senior Apts Q) Step up on Second St hie (k) Total notes receivable Balance at June 30, 2010 Increases 2,900,000 5,408,033 5,870,000 46,250 4,234,507 5,207,314 5,674,589 3,284,235 2,224,836 819,984 4,079,312 707,392 3,566,310 350,526 - 2,407,860 $ 39,211,15I 7,569,997 Balance at Decreases June 30, 2011 - 1 2,900,000 5,408,033 5,870,000 46,250 4,234,507 5,207,314 8,958,824 3,044,820 4,786,704 3,916,836 2,407,860 46,781,148 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 a non - interest bearing loan with the principal amount due and payable after a two -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, 2011, $2,900,000 had been disbursed to the borrower. 25 REDEVELOPMENT AGENCY Or THE CITY OF SANTA MONICA Notes to Basic Financial Statements Year Ended June 30, 2011 b. 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 brown as 1349 26'r' Street. This loan is for the acquisition of land and predevelopment expenses for a 40 -unit income housing development. This was a non - interest bearing loan with the principal amount due and payable after a two -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 $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 certificate of occupancy, and changed the interest rate to 3 %. At June 30, 2011, $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 Internal Revenue Service Form 8609 or the issuance of a certificate of occupancy. At June 30, 2011, $950,000 had been disbursed to the borrower. The Earthquake Recovery Redevelopment Project, the Downtown Redevelopment Project and the Ocean Park Redevelopment Project provided $1,621,500, $903,405 and $2,883,128 respectively. c. 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 surfsee parking lot where Step Up will build pp 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 a two -year 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, 2011, $5,870,000 had been disbursed to the borrower. d. The Redevelopment Housing Trust Fund, formerly known as "CHARD" 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, 2011, loans totaling $46,250 are outstanding. e. A promissory note dated January 30, 2006, in the amount of $1,497,714 was executed with Community Corporation 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 a two -year 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, 2011, $4,234,507 had been disbursed to the borrower. E. REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements Year Ended June 30, 2011 f. A promissory note dated February 13, 2007, in the amount of $3,120,000, was executed with Santa Monica Housing Partners for au Affordable Housing Project located at 1458 141h 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 a two -year deferral period. At June 30, 2011, $5,207,314 had been disbursed to the borrower. g. A promissory note dated December 23, 2008, in the amount of $6,582,323, was executed with Community Corporation of Santa Monica for an Affordable Housing Project located at 2602 Broadway. This loan is for the acquisition and predevelopment expenses to construct approximately 33 two- and three - bedroom units for very low- and low- income families with 56 subterranean parking spaces. This is a non- interest bearing loan and is due and payable after a two -year deferral period. At June 30, 2011, $8,958,824 had been disbursed to the borrower, h. A promissory note dated January 12, 2009, in the amount of $3,720,204, was executed with Community Corporation of Santa Monica for an Affordable Housing Project located at 430- 508 Pico. This loan is for the acquisition and predevelopment expenses to construct 32 - 2 and 3 bedrooms with very low to low income units. This is a non - interest bearing loan and is due and payable after a two -year deferral period. At June 30, 2011, $3,044,820 had been disbursed to the borrower. A promissory note dated February 2, 2009, in the amount of $5,595,897, was executed with Community Corporation of Santa Monica for an Affordable Housing Project located at 2802 Pico. This loan is for the acquisition and predevelopment expenses to construct approximately 30 two- and three- bedroom units for very low and low - income families. This is a non - interest bearing loan and is due and payable after a two -year deferral period. At June 30, 2011, $4,796,704 had been disbursed to the borrower. A promissory note dated June 16, 2009, in the amount of $4,424,711, was executed with FAME Santa Monica Senior Aparphents, LP for an affordable housing project located at 1754 19th Street. This loan is for the acquisition and predevelopment expenses to construct 49 units of very low income seniors housing units. This is a non- interest bearing loan and is due and payable after a two -year deferral period. At June 30, 2011, $3,916,836 had been disbursed to the borrower. k. A promissory note dated December 15, 2010, in the amount of $3,645,422 was executed with Step Up on Second Street, Inc. for an affordable housing project at 520 Colorado Avenue. The Joan is for the acquisition and predevelopment of the site. The interest rate is 0 %. Repayment is deferred during the two year term of the agreement with an option to extend the agreement for thirty months. As of June 30, 2011, the outstanding balance was $2,407,860. 27 REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements Year Ended June 30, 2011 (4) Capital Assets A summary of changes in the Agency's capital assets for the fiscal year ended Julie 30, 2011, is as follows: Depreciation expense in the amount of $2,105,483 was charged to the Housing and Community Development function in the Statement of Activities. During the year the City of Santa Monica exercised an option under the Master Cooperation Agreement to acquire all of the capital assets of the Agency. The agreement calls for the estimated fair market value of the assets of $319,857,900 million to be considered a payment against the agreement. Because the net book value of the capital assets at the time of purchase was $199,170,597 the option was recorded at that amount. The difference between the book value and estimated fair market value of the assets has been recorded as a reduction to the amount due under the agreement but has no impact on these financial statements, 28 Beginning Ending Balance Increases Decreases Balance Nondepreciable: Land $ 104,029,364 42,583,528 (146,612,892) Construction in progress 10,969,830 7,380,302 (18,350,132) - Depreciable: Building, parking structures, and improvements 43,482,630 128,165 (43,610,795) - improvements other than buildings 10,969,582 503,590 (11,473,172) - Machinery and equipment 6,303 - (6,303) - Total historical cost 169,457,709 50,595,585 (220,053,294) - Adeumulated depreciation: Building, parking structures, and improvements (9,664,632) (1,847,716) 11,512,348 Improvements other than buildings (9,106,279) (257,767) 9,364,046 Machinery and equipment (6,303) 6,303 - Totalaccumulateddepreciation (18,777,214) (2,105,483) 20,882,697 Total $ 150,680,495 48,490,102 (199,170,597) Depreciation expense in the amount of $2,105,483 was charged to the Housing and Community Development function in the Statement of Activities. During the year the City of Santa Monica exercised an option under the Master Cooperation Agreement to acquire all of the capital assets of the Agency. The agreement calls for the estimated fair market value of the assets of $319,857,900 million to be considered a payment against the agreement. Because the net book value of the capital assets at the time of purchase was $199,170,597 the option was recorded at that amount. The difference between the book value and estimated fair market value of the assets has been recorded as a reduction to the amount due under the agreement but has no impact on these financial statements, 28 REDEVELOPMENT AGENCY OF THE CITY OF' SANTA MONTCA Notes to Basic Financial Statements Year Ended .Tune 30, 2011 (5) Other Liabilities During the fiscal year ended June 30, 2003, the Redevelopment Agency and the Parking Authority entered into a purchase /sales agreement for the purchase /sale of six downtown parking 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 years 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 carried on the books of the Parking 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. 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 patties, 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, 2011, $46.9 million plus interest remained due under the agreement, Additionally, the note payment of $3.7 million was recorded was Housing and Community Development expense on the Statement of Activities. 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. On June 28, 2011 the Agency entered into a cooperation agreement with the Santa Monica Malibu Unified School District (SMMUSD). The agreement calls for a payment stream for 32 years totaling $130.1 million dollars. Because the California Health & Safety code requires that the annual pass through paid to the SMMUSD be reduced because of this payment stream, the agreement also calls for an additional payment in the amount of the reduction be made. Because the payment due for the FY 2010 -11 was not disbursed by the year end, $4.1 million has been accrued at year end and is included in due to other agencies on the statement of net assets. 29 REDEVELOPMENT AGENCY OF THE, CITY OF SANTA MONICA Notes to Basic Financial Statements Year Ended Stme 30, 2011 (6) Long Term Debt A summary of the changes in the Iong -term liabilities of the Agency excluding advances from the City of Santa Monica for the year ended June 30, 2011 is as follows: Earthquake Recovery Project Area Refunding 2006 Barlhquake Recovery Project Area 2011 Ocean Park Redevelopment Refunding Bonds 2002 Line of credit Notes Payable Loan Payable Less deferred amounts: Porissuance discounts Pot issuance premiums Defened loss on refunding Total bonds, line of credit, notes and loan payable Advances Payable City of Santa Monica: Downtown Redevelopment Project Area Earthquake Reeovory Redevelopment Project Area Ocean Park Redevelopment Project Areas Total Advances from the City of Samara Monica Total long terra debt Bonds . Balance at Balance at Due within July 1, 2010 Additions Redactions June 30, 2011 one year $ 57,645,000 — 3,695,000 53,950,000 -- - 41,050,000 — 41,050,000 — 12,455,000 — 1,145,000 11,310,000 1,195,000 23,471,605 26,528,395 — 50,000,000 - - 42,500,000 1,431,980 41,068,020 - - 60,000,000 — 60,000,000 4,285,714 (153,583) — (8,082) (145,501) — 45,722 409,674 10,628 444,768 (3,264,755) (181,459) (3,083,296) 90,198,989 170,488,069 6,093,067 254,593,991 5,480,714 20,334,950 1,423,446 1,775,000 19,983,396 315,162 5,695,019 -- 5,125,506 569,513 569,513 6,735,290 808,235 — 7,543,525 32,765,259 2,231,681 6,900,506 28,096,434 884,675 $ 122,964,248 172,719,750 12,993,573 282,690,425 6,365,389 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 property acquisition and development including affordable housing. On April 27, 2006, the Agency issued $64,720,000 of Earthquake Redevelopment Project refunding bonds bearing interest from 4.0% to 5.5% to advance refund the outstanding 1999 Earthquake Redevelopment Project for property acquisitions and improvements. 30 REDE VELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements Year Ended June 30, 2011 On June 7, 2011, The City issued $41,050,000 of Earthquake Redevelopment Project 2011 Tax Allocation Bonds bearing interest from 5.0% to 5.9% for a variety of public uses including affordable housing. Line of Credit On May 1, 2008, the Agency entered into a line of credit agreement with Bank of America for affordable housing development. The agreement calls for an initial line up to $50,000,000 available to be drawn which may be increased at the bank's option to $75,000,000 at the request of the Agency. The line is available through June 2013 and is subject to quarterly interest payments at LIBOR plus 1.25 %. The line of credit subordinates to the bonded indebtedness of the fund. As of June 30, 2011, $50,.000,000 had been drawn on the line which is due on June 1, 2013 and has been included in noncurrent liabilities due in more than one year. Interest on the line was $386,964 which has been reported as interest expense. Notes Payable On November 1, 2010 the Agency issued promissory notes in the amount of $42,500,000 for the purchase of property located at 1301 -1333 Fourth Street bearing interest at 6.8 %. Loan Payable On March 11, 2011 the Agency entered into a $60,000,000 loan agreement with Wells Fargo bank. The Ioan bears variable interest at 70% of Daily One Month LIBOR plus 1.5% for a variety of public uses, including affordable housing. Advances Payable In addition, the Agency is indebted to the City of Santa Monica for advances, with interest at varying rates per ammm accruing on principal only. These notes were for a period of one year. At the end of that period, the notes were reissued, with accrued interest, for a one -year period. On June 21, 2005, the notes were amended to be due on demand when sufficient future unpledged property tax increment is available to redeem them. On January 17, 2011, the notes were renegotiated with interest ranging from 7% to 12% and an amortizing payment schedule was implemented. 31 REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements Year Ended June 30, 2011 Debt service requirements for the Agency's Iong term liabilities at June 30, 2011 are as follows: Governmental activities Fiscal year ended Earthquake Bonds Ocean Park Bonds Prommisory Notes Notes, Loan and Line of Credit Total June 30, Principal Interest Principal Interest Principal Interest Principal Interest Principal Interest 2012 — 4,599,844 1,195,000 525,495 884,675 1,398,837 4,285,714 2,199,940 6,365,389 8,724,116 2013 2,005,000 4,654,844 1,250,000 468,635 412,224 1,376,776 58,571,428 4,197,321 62,238,652 10,697,576 2014 2,115,000 4,542,408 1,310,000 407,820 460,079 1,347,920 8,571,429 4,053,750 I2,456,508 I0,351,898 2015 2,225,000 4,440,607 1,370,000 342,815 440,285 2,486,715 8,832,276 3,649,332 12,867,561 10,919,469 2016 2,320,000 4,346,807 1,435,000 273,375 704,105 2,847,895 9,089,225 3,248,810 13,548,330 10,716,887 2017 -2021 13,145,000 20,137,779 4,750,000 364,000 12,557,414 12,689,075 24,597,765 13,869,195 55,050,179 47,060,049 2022 -2026 16,265,000 16,923,326 8,310,081 3,369,919 4,407,271 12,092,728 28,982,352 32,385,973 2027 -2031 20,495,000 12,628,424 — — 4,327,571 453,465 6,335,829 10,364,168 31,158,400 23,446,057 2032 -2036 13,875,000 8,307,200 — — — — 9,383,970 7,816,029 23,258,970 16,123,229 2037 -2041 18,275,000 3,789,319 — — — — 13,622,892 4,077,107 31,897,892 7,866,426 2642 4,280,000 117,456 — 3,370,221 229,779 7,650,221 347,235 s 95,000,000 84,488,014 11,310,000 2,382,140 28,096,434 25,970,602 151,068,020 65,798,159 285,474,454 $ 178,638,915 32 REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements Year Ended June 30, 2011 The above bonds, notes, line of credit 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 and line of credit covenants. The Agency has a number of debt issues that involve the pledging of revenues. The amounts and terms of the remainder of these commitments and the purposes for which the proceeds of the debt issuances are utilized are indicated in the summary of long -tern bonds outstanding at year end presented in this note. For the current year, debt service payments as a percentage of the pledged gross revenue (net of certain expenses where so specified in debt covenants) are indicated in the table below. These percentages also approximate the relationship of debt service to pledged revenue . for the remainder of the term of the commitment. (7) Interfund Transactions Transfers in (out) from other funds at June 30, 2011 are as follows: Transfers in for debt service payments Debt service fund $ 6,453,602 Transfers out for debt service payments Low /Moderate Income Housing Fund $ (794,971) Earthquake Recovery Redevelopment Project (4,324,982) Ocean Park Redevelopment Project (1,333,649) $ (6,453,602) 33 Debt Service Annual as a amount of Annual debt percentage of pledged service pledged Description of pledged revenueldebt revenue payments revenues TaxInerement Ocean Park Redevelopment 2002 3,823,519 1,723,170 45% Earthquake Recovery Project 2006 /2011 67,110,142 4,396,431 7% Loan and Notes Payable 53,688,112 2,374,548 4% Line of credit 13,422,028 386,964 3% (7) Interfund Transactions Transfers in (out) from other funds at June 30, 2011 are as follows: Transfers in for debt service payments Debt service fund $ 6,453,602 Transfers out for debt service payments Low /Moderate Income Housing Fund $ (794,971) Earthquake Recovery Redevelopment Project (4,324,982) Ocean Park Redevelopment Project (1,333,649) $ (6,453,602) 33 REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements' Year Ended June 30, 2011 (8) Master Cooperation Agreement On September 1, 2010 the Agency entered into a Master Cooperation Agreement (MCA) with the City of Santa Monica to commit $5.7 billion to the construction of various projects in support of the Agency's Five -Year Implementation Plan goals of affordable housing, disaster prevention and mitigation, community, commercial and institutional revitalization, all in accordance with Section 33445 of the California Redevelopment Community Law. During the year ended June 30, 2011 the Agency made payments to the City of $216,017,932 of which the required payment for FY 2010 -11 of $72,247,000 has been recognized as Housing and Community Development expense and the remaining balance of $143,770,932 has been recorded as a prepaid expense. On March 4, 2011 an option agreement was entered into that allowed the City the right to purchase anyone or more of the Agency's properties. The City notified the Agency that it intended to exercise the option and acquire all of the property of the Agency and on Match 8, 2011 an agreement was signed. The City and the Agency agreed on a value of $319,857,900 for the value of the properties, with a net book value of $199,170,597. Because the City and the Agency are related parties, no gain on the disposition of the properties was recorded. Instead, the net book value of the properties at the time of the sale, was used to record the transaction. Because the title had transferred during FY 2010 -I1 the acquisition amount has been reflected as a Housing and Community Development expense. (9) Litigation and Contingencies On June 29, 2011, the Governor of the State of California signed Assembly Bills Xl 26 and 27 as part of the State's budget package. Assembly Bill XI 26 requires each California redevelopment agency to suspend nearly all activities except to implement existing contracts, meet aheady- incurred obligations, preserve its assets and prepare for the impending dissolution of the agency. Assembly Bill XI 27 provides a means for redevelopment agencies to continue to exist and operate by means of a Voluntary Alternative Redevelopment Program. Under this program, each city would adopt an ordinance agreeing to make certain payments to the County Auditor Controller in fiscal year 2011 -12 and annual payments each fiscal year thereafter. Assembly Bill X1 26 indicates that the city "may use any available funds not otherwise obligated for other uses" to make this payment. The City of Santa Monica intends to use available monies of its redevelopment agency for this purpose and the City and Agency have approved a reimbursement agreement to accomplish that objective. The amounts to be paid after fiscal year 2012 -13 have yet to be determined by the state legislature. Assembly Bill XI 26 directs the State Controller of the State of California to review the propriety of any transfers of assets between redevelopment agencies and other public bodies that occurred after January 1, 2011. If the public body that received such transfers is not contractually committed to a third parry for the expenditure or encumbrance of those assets, the State Controller is required to order the available assets to be transferred to the public body designated as the successor agency by Assembly Bill XI 26. 34 REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements Year Ended June 30, 2011 In the event that Assembly Bill Xl 26 is upheld, the interagency receivable recognized by funds of the City that had previously loaned or advanced funds to the redevelopment agency may become uncollectible resulting in a loss recognized by such funds. The City might additionally be impacted if reimbursements previously paid by the redevelopment agency to the City for shared administrative services are reduced or eliminated. The League of California Cities and the California Redevelopment Association (CRA) filed a lawsuit on July 18, 2011 on behalf of cities, counties and redevelopment agencies petitioning the California Supreme Court to overturn Assembly Bills X1 26 and 27 on the grounds that these bills violate the California Constitution. On August 11, 2011, the California Supreme Court issued a stay of all of Assembly Bill X1 27 and most of Assembly Bill Xl 26. The California Supreme Court stated in its order that "the briefing schedule is designed to facilitate oral argument as early as possible in 2011, and a decision before January 15, 2012." A second order issued by the California Supreme Court on August 17, 2011 indicated that certain provisions of Assembly Bills Xl 26 and 27 were still in effect and not affected by its previous stay, including requirements to file an appeal of the determination of the community remittance payment by August 15, the requirement to adopt an Enforceable Obligations Payment Schedule ("BOPS ") by August 29, 2011, and the requirement to prepare a preliminary draft of the initial Recognized Obligation Payment Schedule ( "ROPS ") by September 30, 2011. Because the stay provided by Assembly Bill XI 26 only affects enforcement, each agency must adopt an Enforceable Obligation Payment Schedule and draft Recognized Obligation Payment Schedule prior to September 30, as required by the statute. Enforceable obligations include bonds, loans and payments required by the federal or State government; legally enforceable payments required in connection with agency employees such as pension payments and unemployment payments, judgments or settlements; legally binding and enforceable agreements or contracts; and contracts or agreements necessary for the continued administration or operation of the agency that are permitted for purposes set forth in AB 1X 26. On August 9, 2011, City Ordinance No. 2368 was adopted, indicating that the City will comply with the Voluntary Alternative Redevelopment Program in order to permit the continued existence and operation of the agency, in the event Assembly Bills Xl 26 and /or 27 are upheld as constitutional. The initial payment by the City is estimated to be $26.8 million with one half due on January 15, 2012 and the other half due May 15, 2012. Thereafter, an estimated $6.3M will be due annually. The amounts to be paid after fiscal year 2012 -13 have yet to be determined by the State Legislature. The semi - annual payments will be due on January 15 and May 15 of each year and would increase or decrease with changes in tax increment. Additionally, an increased amount would be due to schools if any "new debt" is incurred. Assembly Bill X1 27 allows a one -year reprieve on the agency's obligation to contribute 20% of tax increment to the low- and - moderate- income housing fund so as to permit the Agency to assemble sufficient funds to make its initial payments. Failure to make these payments would require agencies to be terminated under the provisions of ABXI 26. Management believes that the Agency will have sufficient funds to pay its obligations as they become due during the fiscal year ending June 30, 2012. The nature and extent of the operation of redevelopment agencies in the State of California beyond that time frame are dependent upon the outcome of litigation. surrounding the actions of the state. 35 RFDEVFLOPMFNT AGENCY OF THE CITY OF SANTA MONICA Notes to Basic Financial Statements Year Ended .tune 30, 2011 In the event that Assembly Bills Xl 26 and/or 27 are specifically found by the courts to be unconstitutional, there is a possibility that future legislative acts may create new challenges to the ability of redevelopment agencies in the State of California to continue in view of the California State Legislature's stated intent to eliminate, California redevelopment agencies and to reduce their funding. 36 REDF VELOPMENT AGENCY OF THE' CITY OF SANTA MONICA Notes to Basic Financial Statements Year Ended June 30, 2011 Report on Compliance and on Internal Control Over Financial Reporting Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards The Agency Board Members The Redevelopment Agency of the City of Santa Monica, California: To be provided by MGO Kill Attachment C State Auditor Controller's Report Of Financial Transactions Fiscal Year 20102011 10; M;.° ° i y _ Entity Name: Redevelopment Agency of the City of Santa Monica Fiscal Year: 2011 Submitted by: Signature Rod Gould Name (Please Print) ID Number: 13981,984500 Executive Director Title Date Per Health and Safety Code section 33080, this report is due within six month after the end of the fiscal year. The report is to include two (2) copies of the agency's component unit audited financial statements, and the report on the Status and Use of the Low and Moderate Income Housing Fund (HCD report). To meet the filing requirements, all portions must be received by the California State Controller's Office. To file electronically: To file a paper report: 1. Complete all forms as, necessary. 1. Complete all forms as necessary. 2. Transmit the completed output file using a File 2. Sign this cover page, and mail complete report to either address Transfer Protocol (FTP) program or via diskette. - below with 2 audits and the HCD report. 3. Sign this cover page and mail to either 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 750 Sacramento, 95816 as a o tt 1 ..1�. .�. Fiscal Year lVlem(�ers of ¢he GovsCmng Body1 ," - 'Middle ,Meddle:: last NamB. ?..; Firsk Rame Phone' Rod � (310) 458 -8301 Gigi (310) 458.8281 Maria �� (310) 458 -8211 is "11l2'I' /2019,;_ Fiscal Year 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 Performed 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? Yes Unqualified) O Yes Positive /Megative No Exceptions O If compliance opinion includes exceptions, state the areas of non - compliance, and describe the agency's efforts to correct. 1 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 ® . it A'`cby�ji+R'epojt "" =� ompany sucessfully completed icade and parking control iprovements on Parking Structure and 8 to coincide with the August 010 grand reopening of the Santa lonica Place mall. Construction of is bike parking facilities in Parking tructure 7 and 6 commenced on larch 2011 and opened to the ublic in November 2011. Funds ,ere also used to preserve the upply of low and moderate income ousing outside the project area. 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- OD-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) Newindebtedness (Year Only) Size of Project Area in Acres A = Administrative Fund M = Mortgage Revenue Band Program S = Proposed (Survey) Project Area Yes 1/1311976 7/11/2006 No Percentage of Land Vacant at the Inception of the Project Area Health and Safety Code Section 33320.9 (xx.x %) . Percentage of Land Developed at the Inception of the Project Area Health and Safety Code Section 33320.9 (xx.x%) Objectives of the Project Area as Set Forth in the Project Area Plan (Enter the Appropriate Codes) in Sequence as Shown) Yes 2029 2019 �J 10 O 100.0 R = Residential I = Industrial C = Commercial P = Public 0 = Other Please Provide a Brief Description of the Activities for this Project Area During the Reporting Yea Forwarded from Prior Year? Enter Code for Type of Project Area Report U rigC VIM fief brE, j r' i May 24, 2011, as part of the ency's updated available RDA (ding components, the Agency tablished new immediate funding orities for several key projects in a Earthquake Recovery Project ea (funding amounts In renthesis indicate amounts ocated to each project.) These )jects and their current status is follows; Palisades Garden Walk 96.1 m), a pre-construction and nstruction contract for this project is awarded in June 2011 and aliminary site preparations began July 2011; Freeway Capping oject ($2.25 m), the budget was dated to reflect a revised scope of rk; Civic Auditorium Renovation 46.8 m), Council authorized the ty, Manager to negotiate and ecute a contract with Morley mstruction for design/build rvices on June 28, 2011; Colorado . ,planade and Station Plaza ($12.4 ), Council authorized the City anager to negotiate and execute a intract with Peter Walker and artners Landscape for design, 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: Repayment of Indebtedness (Year Only) Effectiveness of Plan (Year Only) New Indebtedness (year Only) A = Administrative Fund M = Mortgage Revenue Bond Program S = Proposed (Survey) Project Area Yes 6/21/1994 7/11/2006 F— Nol 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 %) Yes 2042 2027 2014 1,851 10. Percentage of Land Developed at the Inception of the Project Area I 90.0 Health and Safety Code Section 33320.1 (xx.x%) Objectives of the Project Area as Set Forth in the Project Area Plan RICPO (Enter the Appropriate Code(s) in Sequence as Shown) R= Residential 1= Industrial C= Commercial P =Public O =Other Please Provide a Brief Description of the Activities for this Project Area During the Reporting Year. staff and the Macerich Company sucessfuliy completed facade and parking control Improvements on Pantmg icture 7 and 8 to coincide with the August 2010 grand reopening of the Santa Marlon Place mall. Construction of bike parking facilities in Parking Structure 7 and 8 commenced on March 2011 and opened to the public in ember 2011. Funds were also used to preserve the supply of low and moderate income housing outside the project Please Provide a Brief Description of the Activities for this Project Area During the Reporting Year. n May 24, 2011, as part of the AgenWe updated available RDA funding components, the Agency establumad new imediate funding priorities for several key projects In the Earthquake Recovery Project Area (funding amounts In trenthesis Indicate amounts allocated to each project.) These projects and their current status is as follows: Palisades arden Walk ($46,1 m), a pre- construction and construction contract for this project was. awarded in June 2011 and elimmary site preparations began in July 2011; Freeway Capping Project ($2.26 m), the budget was updated to Cant a revised scope of work; Civic Auditorium Renovation ($48.8 m), Council authorized the City Manager to >gotiate and execute a contract with Morley Construction for design/build services on June 28, 2011; Colorado spianade and Station Plaza ($12.4 m), Council authorized the City Manager to negotiate and execute a contract with oter Walker and Partners Landscape for design, construction document preparation, and construction administration :rvices and a separate contract for environmental consulting services on June 28, 2011; Civic Center Joint Use roject ( CCJUP) ($56 m), On April 6, 2011 the School District Board approved an updated project description for the CJUP, followed by Council authorization for staff to negotiate and execute an MOU with the School District based on h updated project. The MOU which provides a stream of tax increment payments to the School District for iplementation of the CCJUP was executed on June 28, 2011, ew updated immediate funding commitments for Earthquake Recovery Projects outside the Civic Center area include: he Pico Branch Library ($10.4 m), funding was updated to reflect the absence of subterranean parking for the library, ial design of the project was approved by Council in September 2011; and Pier improvements ($3 m) during the :parting year the City contracted with URS to prepare deslgn /build plans for Phase IV of this project which will upgrade section of the pier that cannot currently support the weight of emergency vehicles; and funding for design of Fire tatlon One ($3 m). ngoing projects and their current status updates areas follows: completion of Seismic Retrofit work on Parking tructure 2 occured In March 2011; the concept design of the new Parking Structure 6 recevled Council approval on anuary 11, 2011 followed by final design approval by Council on September 27, 2011; the Agency completed its ssembiy of a 127,600 square foot multi- purpose site with the purchase of a key property located at 1301 -1333 4th treat in November 2010; Traffic Signal Master Plan, final design of Phase IV of the project was completed during the sporting year; environmental review and final design on a subsequent phase of the Palisades Bluff Stabilization roject is currently underway; and design of streetscape improvements on 20th St and Cloverfield was near completion uring the reporting year, pending Caltrans approval of encroachment permit. i addition, during the reporting year rehabilitation of two affordable housing developments (914 4th Street and 217 -226 icknell Ave.) with a total of 29 units were completed and occupied with the use of low and moderate income funds, oth developments are located outside the Earthquake Recovery Project Area. Please Provide a Brief Description of the Activities for this Project Area During the Reporting Year. Please Provide a Brief Description of the Activities for this Project Area During the Reporting Year. .1 Acnvlty R�ep4p'r:: x allocation bond debt service was id with funds from the Ocean Park oject Areas. Funds were also used preserve the supply of low and )derate income housing outside project area. Forwarded from Prior Year ? Enter Code for Type of Project Area Report 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 -Y1) 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) Newlndebtedness (Year Only) A = Administrative Fund M = Mortgage Revenue Bond Program S = Proposed (Survey) Project Area � Yes /24!1961 7!'1112006 No 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 %) Yes 2022 2012 2004 33 Percentage of Land Developed at the Inception of the Project Area 100.0 Health and Safety Code Section 33320.1 (xx.x%) Objectives of the Project Area as Set Forth in the Project Area Plan —�R, (Enter the Appropriate Codes) in Sequence as Shown) R = Residential I = Industdal C = Commercial P = Public O = Other 'FiscalYear 2011 Project Area Name Frozen Base Assessed Valuation Increment Assessed Valuation Total Assessed Valuation Assessed Yaivabon Dail iDowntown Project Area t 3,687,360 C731.8 231,853,43_7 !. 235,540.7x7 Fiscal Year 2011 Project Area Name Frozen Base Assessed Valuation Increment Assessed Valuation Total Assessed Valuation Earthquake Recovery Project Area F-738-6-1,4-4-9,-7-6 01 M75-9-7.59 10,469,047,876 p", -yl-q. 5. Fiscal Year 2011 Project Area Name Frozen Base Assessed Valuation Increment Assessed Valuation Total Assessed Valuation Ocean Padc Project Area 282,572, F---39-6,-45-9,9281 fiscM Year 12011 Project Area Nance Amounts Paid To Taxing Agencies Pursuant To: Downtown Project Area Tax Increment Pass Through Detail H & S Code H & S Code H &S Code ' Section 33401 Section 33676 Section 33607 Total ^� Other Payments H & S Code H &S Code Section 33445 Section 33445.5 County t� Cities School Districts Community College District 5,281 Special Districts 4,821 Total Paid to Taxing ___......_..:.�..___, $.__,..._:._ ._._.._._...,..- 50........... $ 124, 699 ,�, .... 699._. ._.._. :.,..._$0._ .. ........... . $0 Agencies Net Amount' o Agency IW,"' JMMWW ffMMJMMM=___ _2,677,594 Gross Tax Increment Generated ;111%21/2011:. Flacai Year 1209 -- Project Area Marne 1Earthquake Recovery Project Area Tax increment Pass Through Detail Other Payments Amounts Paid To Taxing H & S Code H & S Code H &S Code Total H &S Code H & S Code Agencies Pursuant To: Section 33401 Section 33676 Section 33607 Section 33445 Section 33445.5 County 09,099 MOM Cities 1,674,195 ....... $1,,674,195 _. �� I . School Districts 5 354 342 $5 354 342 Community College District 365 073 $365 073 Special Districts 582, 320- $S$2,320 _. L. -, •- ''1+. Total Paid to Taxing __T..-_..,_.,..:..'�'.� -.,i .$0,: Agencies Net Amount to Agency p t , $51,825,113 Gross Tax Increment �r � 67,110,142 Generated 11121/2019 r:i Fisca� Year Project Area !Jame 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 Ocean Park Project Area Tax Increment Pass Through Detait Other Payments H& S Code H& S Code H& S Code Total H& S Code H& S Code Section 33401 Section 33675 Section 33807 Section 33445 Section 33445.5 i ..;17!21/2011. i Fiscal Year Project Area Name Tax Allocation Bond Debt Revenue Bonds Other Long Term Debt City /County Debt 36,083,017 Low and Moderate Income Housing Fund F 20,640,851 Other 108,602,607 Total $165 ^326,475 Available Revenues Net Tax Increment Requirements _$165.326,475 Fiscal Year Project Area Name Tax Al(ocafjori Bond Debt Revenue Bonds Other Long Term Debt City/County Debt Low and Moderate Income Housing Fund F-675,698,9772 Other F-7,581,217.1275 Total Available Revenues Net Tax Increment Requirements Fiscal Year Project Area Name Tax Allocation Bond Debt Revenue Bonds Other Long Term Debt CitylCounty Debt Low and Moderate Income Housing Fund Other Total Available Revenues Net Tax Increment Requirements - $238,392,859.,,, q 1pa JgM � I I :'iE t o N Agency Long Term Debt Fiscal Year 2019 .a Project Area Narne IDowntown Project Area Forward from ProrYear 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 27;758,395 21,756,395 Project Funding 2001 77 ,$19_983,395 L� Bond Types Allowed; - Tax Allocation Bonds; Revenue Bonds; CerMates 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 2011 Project Area {Dame Earthquake Recovery Proiect Area Forward from Prior Year Bond Type Year of Authorization Principal Amount Authorized Principai 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 Intense 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 $589,593 i 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 20 i 9 Project Area Name jOcean Park Project Area Forward from PriorYear 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 7743,525 i O 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 1/21/214 a - Agency Long Term Debt Fiscal Year ®11 Project Area Name lEarthouake Recove Project 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 $50_000,000 i I Bond Types Allowed: Tax Allocation Bonds; ReVenoe 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 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 f Agency Long -Term Debt 2011 Ocean Park Proiect 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 Tar Allocation Bonds ,..__.511,310,006 Bond Types Allowed: I Tar Allocation Bonds; Revenue Bonds; Certificates of Participation; Tax Allocation Notes; Financing Authority Bonds; City1county Debt; US;State; Loans; Lease Obligations; Notes; Deferred Pass- Throughs: Deferred Compensation; Other Agency Long Term Debt Fiscal Year 2011 Project Area Nacre lEarthauake Recovery Project 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 $53,950,000. 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 PassThroughs; Deferred Compensation; Other Agency Long -Term Debt Fiscal Year 2087 Project Area Name Earth uake Recove Pro`ect Area Forward from Prior Year Bond Type Year of Authortzation Principai 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 $ i 50.000 j i Bond Types Allowed: Tax Allocation Bonds; Revenue Bonds; Certificates of Participation; Tax Allocation Notes; Financing Authority Bonds; City /County Debt; US;State; Loans; Lease Obfigations; Notes; Deferred Pass- Throughs; Deferred Compensation; Other h Agency Long-Terim Debt Fiscal Year 12011 ' Project Area Name earthquake Recovery Proiect Area Forward from Prior Year Bond Type Year of Authorization Principal Amount Authorized Principal Amount Issued Purpose of Issue Maturity Date Beginning Year Maturity Data 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 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 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 _. 0 000,000 i -� 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; Defamed Pass- Throughs; Deferred Compensation; Other Agency Long -Term Debt Fiscal Year 2011 Prcject Area Piarne Earthquake Recoveru Protect 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 16 Default ........... &,020 Bond Types Allowed: Tax Allocation Bonds; Revenue Bonds; Certificates of Participation; Tax Allocation Notes; Financing Authority Bonds; Ck/County Debt; US;State; ! Loans; Lease Obligations; Notes; Deferred Pass Throughs; Deferred Compensation; Other Fiscal Year 2011 Proie®t Area Name I®owntown Project Area 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 Revenue/Other Funds Funds Funds Funds Total F-- 2,241,665 1- ,241,665 56D,457 JJW Fiscal Year [2011 _ Project Area Name lr=arthquake Recovery Project Area 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 Revenue /Other Funds - Funds Funds Funds Total 53,688 112 13,422 629 .F _ $67110,141 Fiscai Year 12011 _ Pro'lect Area Name Ocean Park Project Area 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 RevenuetOther Funds Funds Funds Funds Total 3,058,814 764,705 s^ q i' ,.._._,,,,.$3,823,519,,,,' 'r ':�' a Itu Fiscal Year Project Area Name Downtown Project Area Capital Project Debt Service Lowffloderat6 Special Funds Funds Income Housing Revenue /Other Total Administration Costs 289,0351 Professional Services ------- - ..... . Planning, Survey, and Design .. . ........ ... $0 Real Estate Purchases . .. . ........... So Acquisition Expense Operation of Acquired Property .. .... Relocation Costs Relocation Payments ..- -- So. Site Clearance Costs ----- --- - -- Project ImprovemantJ Construction Costs F-57,4801 1 617,678 -$11.'175t158 Disposal Costs $0 Loss on Disposition of Land Held for Resaie State .. . .... . .. Fiscal Year 2091 Project Area Name Downtown Proiect Area Capital Project Debt service Low /Moderate Special Funds Funds Income Housing Revenue/Other Total Decline in Value of Land Held for Resale I I I I ._...,...,_._._. _._..Q Rehabilitation Costs Rehabilitation Grants Interest Expense Fired 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 City /County Advances and Loans All Other Long -Term Debt Total Expenditures Excess (Deficiency) Revenues over (under) Expenditures $0 156,742 1 1 $156,742 1,775,000 $o ,580) SYateme�f bf Income and:FxpendRures Expenditures Pzge 2 1.1 21/2014 a "an X'- tu - Mscaj Year 2011 Project Area Name lEarthquake Pecovery Project Area Administration Costs Professional Services Planning, Survey, and Design Real Estate Purchases Acquisition Expense I Operation of Acquired Property Relocation Costs Relocation Payments Site Clearance Costs Project Improvement I Construction Costs Disposal Costs Loss on Disposition of Land Held for Resale Capital Project Debt Service LowilModerate, Special Funds Funds Income Housing Revenue/Other Total Stafetnent.p. - Expenditures 'Page . #InSAOle and. 06 3 ... . ... . -01 MITI MIN � M' MMV � M.I., - '. " I . M It a "an X'- tu - Mscaj Year 2011 Project Area Name lEarthquake Pecovery Project Area Administration Costs Professional Services Planning, Survey, and Design Real Estate Purchases Acquisition Expense I Operation of Acquired Property Relocation Costs Relocation Payments Site Clearance Costs Project Improvement I Construction Costs Disposal Costs Loss on Disposition of Land Held for Resale Capital Project Debt Service LowilModerate, Special Funds Funds Income Housing Revenue/Other Total Stafetnent.p. - Expenditures 'Page . #InSAOle and. 06 3 ... . ... . [ ? Siateliti ®nf of lncoma And Expendrtures . EXpend�turQS _ Fiscal Year 12011 Project Area Name Earthauake Recovery Project Area Capital Project Debt Service LowlModerate 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: Tar Allocation Bonds and Notes Revenue Bonds, Certificates of Participation, Financing Authority Bonds City /County Advances and Loans Alf Other Long -Term Debt Total Expenditures Excess (Deficiency) Revenues over (under) Expenditures E:_ 841,813 2,601,431 419,442 _ --773,862,686.,.:. 546,308 $546,308 j 25 637 554 -µy$25,637z554 F- 1795,000 _$1,795t000,..i $0 ! statemengof3ncomeapdFxpenditures; Expepdttui @s age4 1/21/2019 .. .... .. ... ... 1,431,9801 $1,431,980 ...($8,1ZS, 275),.._.._. ......... ......._0 ($107,275,336) statemengof3ncomeapdFxpenditures; Expepdttui @s age4 1/21/2019 .. .... .. ... ... Fiscal Year 12011 r= Project Area Name [ocean Park Project Area Capita[ Project Debt Service Low/Moderate Special Funds Funds Income Housing Revenuet0ther Total Ad ministration Costs 407,3301 1 1 Professional Services ...... 7,77777" Planning, Survey, and Design 1 ....... . Real Estate Purchases I 1-1-J9 Acquisition Expense --------------------- — it- . ..... operation of Acquired Property ---- ------------- Relocation Costs $0 Relocation Payments Site Clearance Costs project Improvement / Construction Costs F-2—,23-91:6:2j— 842,7761 1=10.81,91za Disposal Costs I I 7........_.._._._._.._.Y_. Loss on Disposition of Land Held for - =0 Resale Sfatemenf of .. .. .... .. . .... .... . . ,a Mo. Mscal Year 12011. i Project Area Name locean 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 Rehabilitation Grants Interest Expense 808,2351 578,1701 ...... . Fixed Asset Acquisitions Subsidies to Low andi Moderate Income Housing Debt Issuance Costs Other Expenditures including Pass- _J ...... Through Payment(s) Debt Principal Payments: Tax Allocation Bonds and Notes 1 145 000 $1,j45,000 7 Revenue Bonds, Certificates of - -- ........... Participation, Financing Authority Bonds City/County Advances and Loans Ali Other Long-Term Debt -J'77 .. .... ..... Total Expenditures ....,_,_ _$3,454,727 ... ....... . Excess (Deficiency) Revenues over. ... . ..... . ......... (under) Expenditures MOP x , s ..,,! Siatemei}t of income and Exjinndlture5 :Other Flnaiicing Source$ Piscai Year 2011 Project Area Name Downtown Project Area —� Capital Project Debt Service Low[Moderate Special Funds Funds Income Housing Revenue /Other Total Proceeds of Long -Term Debt ------- - -. -p- Proceeds of Refunding Bonds $0 Payment to Refunded Bond Escrow Agent Advances from City/County 1' 423 4471 $1,423,447 Sale of Fixed Assets Miscellaneous Financing Sources (Uses) —� i Operating Transfers In $0 Tax Increment Transfers In .............._....... . ...... .��.0... Operating Transfers Out J.777771 0 Tax Increment Transfers Out $0 (To the Low and Moderate Income Housing Fund) Total Other Financing Sources (Uses) ........__51, 423,447_..----- .........._...._$� ... ...........:. ...... ...$�.... _.... ..........__ $�_.._._.....- $1,423,447 '121/2011 �. Stat ®rnentof Inco Pur Fisca9 Year 2011 Project Area Name Downtown Prolect Area Capital Project Debt Service Low/Moderate Special Funds Funds Income Housing Revenue/Other Total Excess (Deficiency) of Revenues and Other Financing Sources over Expenditures and Other Financing Uses Equity, Beginning of Period 7 Prior Period Adjustments 7--F777777 Residual Equity Transfers B 7, Equity, End of Period $3,568,1 $2,4 ".$0 --690.5 $5,988,147 3tatemenkof incomeatld�xpend�tures ¢therFanaa�cangScurce5{ Fiscal Year 20_ Project Area Name Earthquake Recovery Project Area Capital Project Debt Service Low /Moderate Special Funds Funds Income Housing Revenue /Other Total Proceeds of Long -Term Debt 14a,959,574 I [u,o�a oao__ Proceeds of Refunding Bonds F-- ....... -. ............ $0 Payment to Refunded Bond Escrow Agent 1,520,000 380,000 - -- $1:900,000 Advances from City /County Sale of Fixed Assets - - - - - - -- $0 Miscellaneous Financing Sources (Uses) -' - -- - $0 Operating Transfers In 4 802 917 -_- 54,802,917 ��1 �.- ?0. Tax Increment Transfers In --1 . ......:......._- -._... Operating Transfers Out 4,324.982 477935 54,802,917_ Tax Increment Transfers Out ____ _ - ,So (To the Low and Moderate Income Housing Fund) Total Other Financing Sources (Uses) _._ $138 ,114,692_- �,,......, 54,802,917 $ 25670,46D.. .... _...._... ... .... . $0,,, .- ,$168,588,069 0, 1 Z -a M1,11 ISBN; U Fiscal Year Project Area Name lEarthattake Recovery Project Area Capital Project Debt Service Low/Moderate Special Funds Funds Income Housing Revenue/Other Total Excess (Deliciency) of Revenues and M,747.1 ... .... $TaTTEF 7---M7761,309,733 Other Financing Sources over Expenditures and Other Financing Uses 2 ..... —$108,623,971- Equity, Beginning of Period ....... ........ Prior PeriodAdjustments E ------ Residual Equity TrMSfeTS i L.— li - I T— $o Equity, End of Period $7-003-0 , T- $3,601,5e4T MEAN- W 0 5 R < <�i ITS ,l ' '.t ry ,. �t;i lam, >z, ". _::_ Staterneniof jncome and Experidltures Q.therFinangipg Sauroesl Fiscaj Year 2041 _ Project Area Name 10cean Park Project Area Capital Project Debt Service Low /Moderate Special Funds Funds Income Housing Revenue /Other Total Proceeds of Long -Term Debt _ .......... . av Proceeds of Refunding Bonds - - - -- — $0- Payment to Refunded Bond Escrow Agent - -- -- $0 Advances from CitylCounty 808,235 Sale of Fixed Assets -$0 Miscellaneous Financing Sources (Uses) - $0 Operating Transfers In 1,650,685 $1,650,685 Tax Increment Transfers In _........_._...... .. .. $0 Operating Transfers Out 1 333 649 317,036 ........ $j,656�685 $0 Tax Increment Transfers Out (To the Low and Moderate Income Housing Fund) Total Other Financing Sources (Uses) Excess (Deficiency) of Revenues and Other Financing Sources over Expenditures and Other Financing Uses Equity, Beginning of Period T.77777777. F— Prior Period Adjustinbrits 77 7777-76 Residual Equity Transfers 117777- $o Equity, Eric[ of Period :: � i " Statement of`Incoene'and Expenditures bfherF�nancing Sources � � ' ,� Fiscai Year Project Area Name Ocean Park Project Area Capital Project Debt service Low/Moderate Special Funds Funds Income Housing Revenuet-Other Total Excess (Deficiency) of Revenues and Other Financing Sources over Expenditures and Other Financing Uses Equity, Beginning of Period T.77777777. F— Prior Period Adjustinbrits 77 7777-76 Residual Equity Transfers 117777- $o Equity, Eric[ of Period .�' � � � - �� - � 68lance Sheet Assets and Ether Debris �.. Fiscal Year 2011 Assets and Other Debits Cash and Imprest Cash Cash with Fiscal Agent Tax Increments Receivable Accounts Receivable Accrued Interest Receivable Loans Receivable Low /Moderate Special Capital Projects Debt Service Income Housing Revenue /Other General Long- General Fixed Funds Funds Funds . Funds Term Debt Assets ....._... ._ . Total Contracts Receivable 50 Lease Payments Receivable I?� , t rth,4tt`' so Unearned Finance Charge Due from Capital Projects Fund 61 336 56152 I rl $117,466 Due from Debt Service Fund ,t I 50 Due from Low/Moderate Income Housing Fund _ Due from Special s N I i x; $0 Revenue/Other Funds � "_ 11177W o ii i ti A I I ehi �� ' � 00,1111, e i Ni tti r L., .�' � � � - �� - � 68lance Sheet Assets and Ether Debris �.. Fiscal Year 2011 Assets and Other Debits Cash and Imprest Cash Cash with Fiscal Agent Tax Increments Receivable Accounts Receivable Accrued Interest Receivable Loans Receivable Low /Moderate Special Capital Projects Debt Service Income Housing Revenue /Other General Long- General Fixed Funds Funds Funds . Funds Term Debt Assets ....._... ._ . Total Contracts Receivable 50 Lease Payments Receivable I?� , t rth,4tt`' so Unearned Finance Charge Due from Capital Projects Fund 61 336 56152 I rl $117,466 Due from Debt Service Fund ,t I 50 Due from Low/Moderate Income Housing Fund _ Due from Special s N I i x; $0 Revenue/Other Funds � "_ 11177W o ii i ti A I m o nom, r tie e .�' � � � - �� - � 68lance Sheet Assets and Ether Debris �.. Fiscal Year 2011 Assets and Other Debits Cash and Imprest Cash Cash with Fiscal Agent Tax Increments Receivable Accounts Receivable Accrued Interest Receivable Loans Receivable Low /Moderate Special Capital Projects Debt Service Income Housing Revenue /Other General Long- General Fixed Funds Funds Funds . Funds Term Debt Assets ....._... ._ . Total Contracts Receivable 50 Lease Payments Receivable I?� , t rth,4tt`' so Unearned Finance Charge Due from Capital Projects Fund 61 336 56152 I rl $117,466 Due from Debt Service Fund ,t I 50 Due from Low/Moderate Income Housing Fund _ Due from Special s N I i x; $0 Revenue/Other Funds Low /Moderate Special Fiscal Year 2091 Capital Projects Debt Service Income Housing RevenuelOther General Long- General Fixed Funds Funds Funds Funds Term Debt Assets Investments Total OtherAssets ���Y. i1cPY. iF: Si!•-w( uG# �LG '.3"{fultl8.glr�'1Pv`iivuit?a HSY;r.!:P't.U3.11"'t rr -. -.. Investments: Land Held for $0 Resale Allowance for Decline In MOM NMI 1101 Value of Land Held for Resale Fixed Assets: Land, 0"Ifffill M $0 Structures, and Improvements • • Equipment nt Available In Debt Service Fund ig III Amount to be Payment of Long-Term Deb Total Assets and Other ,$,1,'1,9 ,845,272_..,__,_56,746,729.._.. ,$75,259,906 ,.,� $0..,$285,474,453. .. _., _, $0 1 $487,326,310 Debits (Must Equal Total Liabilities, Other Credits, and Equities) Noll ME 'ta " lit Low /Moderate Special Fiscal Year 2091 Capital Projects Debt Service Income Housing RevenuelOther General Long- General Fixed Funds Funds Funds Funds Term Debt Assets Investments Total OtherAssets ���Y. i1cPY. iF: Si!•-w( uG# �LG '.3"{fultl8.glr�'1Pv`iivuit?a HSY;r.!:P't.U3.11"'t rr -. -.. Investments: Land Held for $0 Resale Allowance for Decline In MOM NMI 1101 Value of Land Held for Resale Fixed Assets: Land, 0"Ifffill M $0 Structures, and Improvements • • Equipment nt Available In Debt Service Fund ig III Amount to be Payment of Long-Term Deb Total Assets and Other ,$,1,'1,9 ,845,272_..,__,_56,746,729.._.. ,$75,259,906 ,.,� $0..,$285,474,453. .. _., _, $0 1 $487,326,310 Debits (Must Equal Total Liabilities, Other Credits, and Equities) Low[Moderate Special Fiscal Year 2011 Capital Projects Debt Service Income Housing Revenue /Other General Long- General Fred 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 Lease Revenue, Certificates of Participation Payable, Financing Authority Bonds All Other Long -Term Debt Total Liabilities and Other Credits n`a4tlP,7 m�u. .l ft���1'� r'' %>1.4�.9Fed�.�'.`:fl .. P.d fl'.'rA° - •. 1111... .1 ,590... �.. ._.._. ' �11121l2011,:;, Low /Moderate Special ' Fiscal Year 2011 Capital Projects Debt Service Income Housing Revenue /Other General Lang- General Fixed Funds Funds 'Funds Funds Term Debt Assets Total Equities Investment In General Fixed Assets Fund Balance Reserved Fund Balance Unreserved - Designated Fund Balance Unreserved- Undesig nated Total Equities Total Liabilities, Other Credits, and Equities + „r - 67,321,228 - 30,463,755 11 " ($117,784,983) a $ 119, 845 ,222._. ... $285,474,453.,, , ....... ...... $0 I $487,326,31Q — — -------------- - - Fiscal Year Operating Transfers In r--76�. j,53 Tax Increment Transfers In r�$o Operating Transfers Out Tax Increment Transfers Out r77= STATEMENT OF INDEBTEDNESS - CONSOLIDATED cover Page FILED FOR THE 2011 -12 TAX YEAR Name of Redevelopment Agency ,Redevelopment Agency cf the City cf Santa Monica Name of Project Area California R 37144 (Ocean Park) 1 B Consolidate on this form all of the data contained on Form A and B Qrciuding supplemental pages). Form A is to include all indebtedness entered into as of June 30 of the Fiscal Year, Pon B 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 Health and Safety Code Section 33675(c)(2). This is optional for each agency and is not a requirement for filing the Statement of Indebtedness. The Reconciliation Statement is to include Indebtedness from Form A only. Certification of Chief Financial Officer, Pursuant to Section 33675 (b) of the Health and Safety Code, I hereby cerlify that the above Is a true and accurate Statement of Indebtedness for the above named agency. Current Total outstanding Debt Prinelpetfinterest Due During Tax Year safeness carried Forward From: Line ErIscal - Totals From Form A. Page 1 Totals) (1) 5 29,096,817 $ 424,104 (2) riod - Totals (From Form B T otals) Grand 3) 29,096,611' 424,104 Totals Available Revenues (4) 492,328 From Calculation of Available Revenues, Line 7 Net 28,604,483 Requirement Consolidate on this form all of the data contained on Form A and B Qrciuding supplemental pages). Form A is to include all indebtedness entered into as of June 30 of the Fiscal Year, Pon B 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 Health and Safety Code Section 33675(c)(2). This is optional for each agency and is not a requirement for filing the Statement of Indebtedness. The Reconciliation Statement is to include Indebtedness from Form A only. Certification of Chief Financial Officer, Pursuant to Section 33675 (b) of the Health and Safety Code, I hereby cerlify that the above Is a true and accurate Statement of Indebtedness for the above named agency. STATEMENT OF INDEBTEDNESS - CONSOLIDATED Cover Page FILED FOR THE 2011 -12 TAX YEAR Name of Redevelopment Agency Redevelopment Agency of the C(ty of Santa Monica Name of Project Area Earthquake Recovery Redevelopment Project Canselidate on this form all of the data contained on Form A and B Qncluding supplemental pages). Form A Is to include all indebtednesa entered Into as of June 30 of the Fiscal Year. Form 5 may be filled at the epflon of the agency, and is to include indebtedness entered into post June 30 of the Fiscal Year, pursuant to Hea1Sh and Safety Code Section 33675(c)(2). This is optional for each agency and is not a requirement for filing the Statement of indebtedness. The Reconciliation Statement is to induce indebtedness from Form Only. Certiflcallon of Chief Financial Officer. Pursuant to Sectfon $3675 (b) of the Health and Safety Code, f hereby certify that the above is a true and accurate Statement of Indebtedness for the above named agency. Current Balances Carried Forvrard From: Total Principaltlnterest Line outstanding Debt Due During Tax Year Fiscal Period - Totals (From Form A, Page 1 Totals) (1) $ 8,266,916,097 $ 122,023,886 (Optional) 2) 525,933,459 26,830,703 Post Fiscal Period - Totals (From Form B Totals) Grand (3) 8,782,849,55& 145,854,589 Totals From Catwlatlon of Available Revenues, Llne 7 From bie RaYenLof (4) 89502J21 8,693,346, Requirement Canselidate on this form all of the data contained on Form A and B Qncluding supplemental pages). Form A Is to include all indebtednesa entered Into as of June 30 of the Fiscal Year. Form 5 may be filled at the epflon of the agency, and is to include indebtedness entered into post June 30 of the Fiscal Year, pursuant to Hea1Sh and Safety Code Section 33675(c)(2). This is optional for each agency and is not a requirement for filing the Statement of indebtedness. The Reconciliation Statement is to induce indebtedness from Form Only. Certiflcallon of Chief Financial Officer. Pursuant to Sectfon $3675 (b) of the Health and Safety Code, f hereby certify that the above is a true and accurate Statement of Indebtedness for the above named agency. STATEMENT OF INDEBTEDNESS - CONSOLIDATED Cover Page FILED FOR THE 2011 -12 TAX YEAR Name of Redevelopment Agency - Redevelopment Agency of the City of Santa Monica Name of Project Area Downtown Redevelopment Project 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 of June 30 of the Fiscal Year. Form B 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 Health and Safety Code Section 33675(c)(2). This Is optional for each agency and is not a requirement for filing the Statement of indebtedness. The Reconciliation Statement is to Include indebtedness from Form A only, Certification cf Chief Financial Officer. Pursuant to Section 33575 (b) of the Health and Safety Code, 1 hereby certify that the above is atrue and accurate Statement of Indebtedness for the above named agency. Current Balances Carried Foneard From: Total Principalllnterest Line Outstandin9Debt Due During Tax Year Fiscal Period - Totals (From Form A, Page t Totals) (t) 6 ' 165,326,475 $ 7,597,870 (Optional) post Fiscal Period - Totals (From Farm B Totals) (2) $ - 6 _ Orand - (3) 165,326,475 7,597,670 Totals Avattable Revenues - (4) 5,381,732 From Calculation of Available Revenues, line 7 6158,944,743 i Net (5) Requirement 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 of June 30 of the Fiscal Year. Form B 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 Health and Safety Code Section 33675(c)(2). This Is optional for each agency and is not a requirement for filing the Statement of indebtedness. The Reconciliation Statement is to Include indebtedness from Form A only, Certification cf Chief Financial Officer. Pursuant to Section 33575 (b) of the Health and Safety Code, 1 hereby certify that the above is atrue and accurate Statement of Indebtedness for the above named agency. STATEMENT OF INDEBTEDNESS - CONSOLIDATED FILED FOP THE 2011-12 TAX YEAR Name of Redevelopmerst Agency Redevelopment, 2ency of the City of Santa Monica Name of Project Area California R 37144 (Ocean Park) 9A Cover Page Consolidate on this farm all of the data contained on Form A and B (including supplemental pages). Form A Is to include all Indebtedness entered Into as of June 30 of the Fiscal Year. Form B 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 Health and Safety Code Section 33575(c)(2). This is optional for each agency and is not a requirement for filing the Statement of Indebtedness. The Reconciliation Statement is to include Indebtedness from Form only. Certillution of Chief Financial officer. Pursuant to Section 33675 (b) of the Health and Safety Code, E hereby certify that the above is a true and accurate Statement of Indebtedness for the above named agency. Current Total outstanding Debt PrincipaUlnterest Due During Tax Year Balances Carried Forward From: . Line Fiscal Period - Totals (From Fenn A, Page 1 Totals (1} $ 299,296,840 $ 3,844,986 (Optional) Past Fiscal Period - Totals From Form B Totals) (2) - _ Grand Totals {3) 299,295,848 3,044,986 Available Revenues From Calculation ofAvallabla Revenues, Line 7 (4) 9,990,612 Net Requirement (5) $ 200,205,336 Consolidate on this farm all of the data contained on Form A and B (including supplemental pages). Form A Is to include all Indebtedness entered Into as of June 30 of the Fiscal Year. Form B 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 Health and Safety Code Section 33575(c)(2). This is optional for each agency and is not a requirement for filing the Statement of Indebtedness. The Reconciliation Statement is to include Indebtedness from Form only. Certillution of Chief Financial officer. Pursuant to Section 33675 (b) of the Health and Safety Code, E hereby certify that the above is a true and accurate Statement of Indebtedness for the above named agency. AGENCY NAME PROJECTAREA TAX YEAR: 2011 -2012 RECONCILIATION DATES: CALCULATION OF AVAILABLE REVENUES Redevelopment Agency of the City of Santa Monica Downtown Redevelopment Project JULY 1, 2010 TO JUNE 30, 2011 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. All 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 $ 7,534,456 2,802,293 30,188 10,366,937 3,985,205 $ 6,381,732 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 Health 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 funds a project with a bond issue. The previous SO] 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 "Available Revenues ". AGENCY NAME PROJECTAREA TAX YEAR: 2011 -2012 RECONCILIATION DATES: CALCULATION OF AVAILABLE REVENUES Redevelopment Agency of the City of Santa Monica Earthquake Recovery Redevelopment Project JULY 1, 2010 TO JUNE 30, 2011 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. All 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 $ 86,911,422 67,110,142 158,595 154,180,159 64,677,438 $ 89,502,721 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 Health 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 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 "Available Revenues ". AGENCY NAME PROJECT AREA TAX YEAR: 2011 -2012 RECONCILIATION DATES: CALCULATION OF AVAILABLE REVENUES Redevelopment Agency of the City of Santa Monica California R 37/44 (Ocean Park) 1A JULY 1, 2010 TO JUNE 30. 2011 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. All 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 $ 13,453,556 3,436,342 100,962 7,900,348 $ 9,090,512 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 Health 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 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 DDAwould be included on line 4 above in order to accurately determine ending "Available Revenues ". AGENCY NAME PROJECT AREA TAX YEAR: 2011 -2012 RECONCILIATION DATES: CALCULATION OF AVAILABLE REVENUES Redevelopment Agency of the City of Santa Monica California R 37/44 (Ocean Park) 1 B JULY 1, 2010 TO JUNE 30, 2011 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. All 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 $ 1,192,515 387,177 12,978 1,592,670 1,100,342 $ 492,328 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 Health 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 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 "Available Revenues ". RECONCILIATION STATEMENT - CHANGES IN INDEBTEDNESS Page 1 of 2 Blame off Agency Redevelopment Agency of the City of Santa Monica Name of Project Area Downtown Redevelopment Project Tax fear: 2010 -2011 Reconciliation Dates: From July 1, 2010 to June 30, 2011 -Adjustment reflects increase due to renegotiation of notes and decrease due to debt service payments Adjustment reflects increase in estimate used on the previous SOI. A B I C D 1 E F Debt Identification: Outstanding Debt All Beginning Indebtedness Adjustments Amounts Paid Against Indebtedness, from: Remaining Balance (A +B- C -D -E) 801, page and line: Brief Description Increases (attach explanation) Decreases (attach explanation) Prior Yr Current Yr Tax Increment Other Funds Pg 1 Line Pg 1 Line Santa Monica Note #1* $ 1,593,022 $ 1,383,213 $ - $ 138,450 $ - $ 2,837,785 Pg 1 Line B Pg 1 Line B Santa Monica Note 96* 18,741,928 16,139,874 - 1,636,550 - 33,245,252 Pg 1 Line C Pg 1 Line C Pkg. Structure Reimb. Agreemt 123,973 123,973 Pg 1 Line D Pg 1 Line D 1DIT Coop / Reimb. Agreement 3,473,013 - - 3,473,013 Pg 1 Line Pg 1 Line 2010-28 20% Set Aside ** 6,406,000 14,785,000 560,459 - 20,630,541 Pg 1 Line E Pg 1 Line E 1992 -93 20% Shortfall 10,310 10,310 Pg NEW Line Pg 1 Line 2011 -29 Admin Indirect (7117) 1,182,404 - - - 1,182,404 Pg NEW Line Pg1 Line I 2010 Master Coop Agreement g267 82,837,833 1,203,969 - 81,633,864 TOTAL -THIS PAGE $ 30,348,246 $ 116,328,324 $ - $ 3,539,428 $ - $ 143,137,142 TOTALS FORWARD 1,089,006 21,773,263 227,159 445,777 - 22,189,333 GRAND TOTALS $ 31,437,252 $ 138,101,587 $ 227,159 $ 3,985,205 $ - $ 165,326,475 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 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 must equal the current SOI, Form A Total Outstanding Debt column. -Adjustment reflects increase due to renegotiation of notes and decrease due to debt service payments Adjustment reflects increase in estimate used on the previous SOI. Name of Agency Redevelopment Agency of the City of Santa Monica Name of Project Area Downtown Redevelopment Project Tax Year: 2010 -2011 Reconciliation Dates: From July 1, 2010 to June 30, 2011 "Adjustment reflects increaseldecrease in estimate used on the previous SOL A B I C D I E . F Debt Identification: Outstanding Debt All Beginning Indebtedness Adjustments Amounts Paid Against Indebtedness, from: Remaining Balance (A +B- C -D -E) SOI, page and line: Brief Description Increases (attach explanation) Decreases (attach explanation) Prior Yr Current Yr Tax Increment Other Funds Pg NEW Pg 1 2011 -29 Reimbursement Line Line G Agreement (7117) $ - $ 5,455,263 $. - $ - $ - $ 5,455,263 Pg 1 Pg 2 2010 -11 Rent. Line Line Agreement'(7117) 434,200 227,159 207,041 - - Pg 1 Pg 2 Line G Line B 2010 -11 Admin Indirect' 40,806 40,806 - Pg 2 Pg 2 Line C Line C 2010 -28 AB 2557 614,000. 1,300,000 41,188 - 1,872,812 Pg NEW Pg 2 2010 -29 Peas through per Line Line D AB1290 15,018,000 156,742 14,861,258 Pg Pg Line Line - - Pg IPg Line Line Pg Pg Line Line Pg Pg Line Line Pg Pg Line Line TOTAL - THIS PAGE $ 1,089,006 $ 21,773,263 $ 227,159 $ 445,777 $ - $ 22,189,333 "Adjustment reflects increaseldecrease in estimate used on the previous SOL RECONCILIATION STr TEMENT - CHANGES IN INDEBTEDN Name of Agency Redevelopment Agency of the City of Santa Monica Name of Project Area Earthquake Recovery Redevelopment Project Tax Year: 2010 -2011 Reconciliation Dates: From July 1, 2010 to June 30, 2011 Adjustment reflects increase /decrease in estimate used on the previous 801 A B 1 C D I E F Debt Identification: Outstanding Debt All Beginning Indebtedness Adjustments Amounts Paid Against Indebtedness, from: Remaining Balance (A +S- C -0 -E) SOI, page and line: Brief Description Increases (attach explanation) Decreases (attach explanation) Prior Yr Current Yr Tax Increment Other Funds Pg 1 Pg 1 Line Line 2006 Earthquake project bonds $ 70,130,282 5 - $ - $ 5,167,055 $ - $ 64,963,227 Pg 1 Pg 1 2002 -03 Promissory Note - Line B Line B Parking structures 84,411,446 3,669,698 80,741,748 Pg 1 Pg 1 2010 -11 Reimb. Agreement* Line H Line C (7117) 4,760,868 1,557,405 3,203,463 Pg NEW Pg 3 4th and Arizona property Line Line C acquisition 105,010,658 1,913,218 103,097,440 Pg NEW Pg 1 Line Line 2011 Earthquake project bonds 99,566,009 99,566,009 Pg 1 Pg 1 Line F Line F 1996 -97 Reimb. Agreement 12,250,194 12,250,194 NEW Pg 1 2011 -42 Reimb. Agreement Line Line H (7117) 365,808,659 365,808,659 Pg 1 Pg 1 Line Line 20104220 %Set Aside* 481,595,000 207,526,000 13,422,028 675,698,972 TOTAL -THIS PAGE $ 653,147,790 $ 777,911,326 $ 1,557,405 $ 27,375,462 $ - $ 1,402,126,249 TOTALS FORWARD 884,655,808 6,108,366,816 2,204,670 37,301,976 98,726,130 6,854,789,848 GRAND TOTALS $ 1,537,803 :598 S 6,886,278,142 -$ 3,762,075 $ 64,677,438 $ 98,726,130 $ 8,256,916,097 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 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 S01 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 must equal the current SOI, Form A Total Outstanding Debt column. Adjustment reflects increase /decrease in estimate used on the previous 801 Name of Agency Redevelopment Agency of the City of Santa Monica Name of Project Area Earthquake Recovery Redevelopment Project Tax Year: 2010 -2011 Reconciliation Dates: From July 1, 2010 to June 30, 2011 adjust amounts to actual A B I C D E F Debt Identification: Outstanding Debt All Beginning Indebtedness Adjustments Amounts Paid Against Indebtedness, from: Remaining Balance (A+B- C -D -E) Sol, page and line: Brief Description Increases (attach explanation) Decreases (attach explanation) Prior Yr Current Yr Taxlncrement Other Funds Pg 1 Pg 1 2008 Seismic Retrofit of Pkg Line G Line G Structure 4 (8809). $ 662,242 $ - 5 400,548 $ - $ - $ 261,694 Pg 2 Pg 2 2000 -01 Reimb. Agreement - LineA Line Palisades Bluff Project (7954) 71,951 690,653 83,822 678,782 Pg NEW Pg 2 Line Line H Wells Fargo Term Loan 67,430,666 - 230,666 - 67,200,000 Pg 2 Pg 2 2002 -03 Parking Structure Pert. Line C Line C Agreement (8181) 60,000,000 540,692 6,405 - - 59,452,903 Pg 2 P9 2 2002 -03 Palisades Bluff /Hsg Line E Line E Cooperation Agreement (8180)' 46,279,415 1,442,718 - 548,105 - 47,174,028 Pg NEW Pg 2 Line Line F 2011 -42 Admin Indirect 5,793,469 - 5,793,469 Pg NEW Pg 2 2010 -42 Pass Throughs Per Line Line G AB1290 721,674,000 365,782,000 19,925,140 - 1,067,530,860 Pg NEW Pg 1 2011 -42 Property Based Line Line Assessment Dist 4,370,683 4,370,683 Pg 3 Pg 3 2010 -11 Property Based Line F Line B Assessment Dist 257,099 257,099 - Pg 2 Pg 2 2005 -06 Seismic retrofit of Line J Line J parking structure 4 (8474)' 71,940 $ 71,940 - - Pg NEW Pg 1 Line Line D 2010 -42 AS 2557 46,111,000 19,873,000 1,147,715 - 64,836,285 Pg 3 Pg 3 Line D Line D 2010 -11 ERAF 41295,350 4,170 - 4,299,520 - - TOTAL -TH IS PAGE $ 879,422,997 $ 465,387,359 $ 1,013,180 $ 26,498,472 $ - $ 1,317,298,704 adjust amounts to actual Name off Agency Redevelopment Agency of the City of Santa Monica Name of Project Area Earthquake Recovery Redevelopment Project Tax Year: 2010 -2011 Reconciliation Dates: From July 1, 2010 to June 30, 2011 `Adjustment reflects increaWdecrease in estimate used on the previous SOI A B 1 C D I E F Debt Identification: - Outstanding Debt All Beginning Indebtedness Adjustments Amounts Paid Against Indebtedness, from: Remaining Balance (A +B- C -D -E). SCI, page and line: Brief Description Increases (attach explanation) Decreases (attach explanation) Prior Yr Current Yr Tax Increment Other Funds Pg 2 Pg 2 2007 Seismic Retrofit of Parking Line D Line D Structure 2(8734)• 196,865 - 60,760 80,468 55,637 Pg 3 Pg 3 Line A Line A 2010 -11 Admin Indirect 79,489 79,489 Pg 3 Pg 2 2008 2nd & 4th St Ped. & Line B Line I Streetscape Imp (8816)' 1,113,602 145,025 257,527 - 711,050 Pg NEW Pg 1 2010 Master Coop Agreement Line Line K (9267) 5,393,191,968 1,329,788 98,726,130 5,293,136,050 Pg 2 Pg 2 2009 Parking Structure 7 -8 Line K Line K Facade improvements (8949)' 3,842,855 2,127,049 442,947 4,211,382 1,315,575 Pg New Pg1 SMMUSD Civic Center Jcint Use Line Line L Project (9374) 234,313,000 234,313,000 Pg NEW Pg2 Line Line P82 Seismic Retrofit (9190)* 2,381,634 57,461 2,102,202 222,171 Pg NEW Pg 3 Freeway capping and bridging Line Line E (9233) 3,156,508 391,657 - 2,764,851 Pg NEW Pg 3 Line Line F Palisades Garden Walk (9234) 3,200,000 1,593,403 1,606,597 Pg NEW Pg 3 Line Line G EXPO green streets (9235) 3,156,508 54,570 220,856 2,881,082 Pg NEW Pg 3 EXPO light rail, Pico Library, Line Line H Civic Auditorium (9236) 1,452,590 430,727 536,732 485,131 Pg Pg 3 Line Line TOTAL - TH IS PAGE $ 5,232,811 $ 5,642,979,4571 1,191,490 1 $ 10,803,504 $ 98,726,130 $ 5,537,491,144 `Adjustment reflects increaWdecrease in estimate used on the previous SOI RECONCILIATION D' • I used Name of Agency Redevelopment Agency of the City of Santa Monica Name of Project Area Earthquake Recovery Redevelopment Project Tax Year: 2010 -2011 Reconciliation Dates: From July 1, 2010 to June 30, 2011 A 1 B 1 D I E F Debt Identification: Outstanding Debt All Beginning Indebtedness Adjustments Amounts Paid Against Indebtedness, from: Remaining Balance (A +B -GO -E) 501, page and line: grief Description Increases (attach explanatioN Decreases (attach explanation) Prior Yr Current Yr Tax Increment Other Funds Pg Pg Line Line - Pg Pg Line Line Pg Pg Line Line - ' Pg Pg Line Line - Pg Pg Line Line - - - Pg Pg Line Line - - - Pg Pg Line Line Pg Pg Line Line - - Pg Pg Line Line Pg Pg Line Line P. Pg Line Line - Pg Pg Line Line - $ $ - $ 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) 1A Tax Year: 2010 -2011 Reconciliation Dates: From July 1, 2010 to June 30, 2011 * Adjustment reflects accrued interest for FY 2010 -11, during the year the interest on the note was changed to 12 %. "* Ocean Park Refunding Bonds adjustment reflects 80% financing by Ocean Park Fund and 20% financing by Low /Mod Housing Fund. — Adjustment reflects increase /decrease in estimate used on the previous SOL A B I C D E F Debt Identification: 'Outstanding Debt All Beginning Indebtedness Adjustments Amounts Paid Against Indebtedness, from: Remaining Balance (A +B- C -D -E) SOI, page and line: Brief Description Increases (attach explanation) Decreases (attach explana5en) Prior Yr Current Yr Tax Increment Other Funds Pg 1 Pg 1 Line Line Santa Monica Note #2* $ 5,302,328 $ 8,469,841 $ - $ - $ - $ 13,772,169 Pg 2 Pg 1 Line ID Linea 2010- 2820% Housing Set Aside 12,675,000 1,584,000 642,045 10,448,955 Pg 1 Pg 1 Line C Line C Santa Monica Note #5' 665,813 1,060,913 - 1,726,726 Pg 1 Pg 1 Line D Line 1) Rehab Off-Site Housing 453,514 138,940 1 - 314,574 Pg 1 Pg 1 Line E Line E OP Refunding Bonds - 2002 ** 10,574,903 - 1,182,095 - 9,392,808 Pg 1 Pg 1 Line F - Line F 1988 -89 20% Shortfall 180,383 - 180,383 Pg 1 Pg 1 Line G Line G 1990 -91 20% Shortfall 2,500 - 2,500 Pg 1 Pg 1 Line H Line H 1991 -92 20% Shortfall 32,582 - - - 32,582 OTAL -THIS PAGE $ 29,887,023 $ 9,530,754 1 $ 1,584,000 $ 1,963,080 $ - a 35,870,697 TOTALS FORWARD 1,563,478 177,961,941 1 163,000 5,937,268 173,425,151 GRAND TOTALS I $ 31,450,501 I b 187,492,695 1 $ 1,747,000 $ 7,900,348 $ - 7 209,295,848 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 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 Ye' page and line columns. Column F must equal the current SOI, Form A Total Outstanding Debt column. * Adjustment reflects accrued interest for FY 2010 -11, during the year the interest on the note was changed to 12 %. "* Ocean Park Refunding Bonds adjustment reflects 80% financing by Ocean Park Fund and 20% financing by Low /Mod Housing Fund. — Adjustment reflects increase /decrease in estimate used on the previous SOL Name of Agency Redevelopment Agency of the City of Santa Monica Name of Project Area California R 37144 (Ocean Park) 1A Tax Year: 2010 -2011 Reconciliation Dates: From July 1, 2010 to June 30, 2011 — Adjustment reflects increase/decrease in estimate used on the previous SOL A I B I C D I E F Debt Identification: Outstanding Debt All Beginning Indebtedness Attu ants Amounts Paid Against Indebtedness, from: Remaining Balance (A+g- C -D -E) SOI, page and line: Brief Description Increases (attach explanation) Decreases (attach explanation) Prior Yr Current Yr Tax Increment Other Funds Pg 1 Pg 1 Line I Line 1 1992 -93 20% Shortfall S 72,763 $ - $ - $ - $ - $ 72,763 Pg 2 Pg 1 2010 -11 Reimb. Agreement° LineC Line (7117) 184,035 24,153 - 208,188 - - Pg2 Pg2 Line S Line A 2010 -11 Admin Indirect 92,680 3,091 - 95,771 - - Pg NEW Pg2 Line Line B 2011 -22 Admin Indirect 1,401,414 - 1,401.414 Pg NEW Line Pg 2 Line C 2011 -22 Reimbursement Agreement (7117) 3,309,713 - 3,309,713 Pg NEW Line Pg 2 Line G 2010 Master Coop Agreement (9267) 173,223,570 - 5,576,508 - 167,647,062 Pg 2 Line E Pg 2 Line D 2010 -22 AS 2557 1,214,000 - 163,000 56,801 - 994,199 Pg Pg Line Line - Pg Pg Line Line - Pg Pg Line Line Pg Pg :Line ne TOTAL -THIS PAGE $ 1,563,478 $ 177,961,941 $ 163,000 $ 5,937,268 $ $$ 173,425,151 — Adjustment reflects increase/decrease in estimate used on the previous SOL Name of Agency . Redevelopment Agency of the City of Santa Monica Nance of Project Area California R 37/44 (Ocean Park) 1 B Tax Year: 2010 -2011 Reconciliation Dates: Frorn July 1, 2010 to June 30, 2011 A B C 1) 1 E F Debt Identification: Outstanding Debt All Beginning Indebtedness Adjustments Amounts Paid Against Inde btedness, from: Remaining Balance (A +B- C -D -E) page antl line: Brief Descripion Increases (attach explanation) Decreases (attach explanation) ior Yr Current Yr Tax Increment Other Funds A Pg 1 LineA Santa Monica Note #2' $ 681,565 $ 1,020,613 $ - $ - $ - $ 1,702,178 EW Pg 1 Line L 2010 Master Coop Agreement (9267) 23,646,628 - 716,809 - 22,929,819 C [PIP'g Pg 1 Line C Santa Monica Note #5` 85,584 127,831 - - 213,415 D Pg 1 . Line D Rehab OffSite Housing 613,737 - 17,860 595,877 1 E Pg 1 Line E OP Refunding Bonds -2002 1,757,346 - 196,441 - 1,560,905 I P9 1 Line F 2010 -11 Reimb. Agreement - (7117) 23,679 3,279 26,958 1 H Pg 1 Line G 2010 -11 Admin Indirect 15,401 3,090 12,311 - - Pg NEW Line Pg 1 Line 2011 -22 Admin Indirect - 180,142 180,142 TOTAL - THIS PAGE $ 3,177,312 $ 24,978,493 $ 3,090 $ 970,379 $ - $ 27,182,336 TOTALS FORWARD 2,300,000 425,438 681,000 129,963 - 1,914,475 GRAND TOTALS $ 5,477,312 $ 25,403,931 $ 884,090 $ 1,100,342 $ - I $ 29,096,811 RECONCILIATION STATEMENT'- CHANGES IN INDEBTEDNESS Page 2 of 2 Name of Agency Redevelopment Agency of the City of Santa Monica Name of Project Area California R 37144 (Ocean Park) 1B Tax Year: 2010 -2011 Reconciliation Dates: From July 1, 2010 to June 30, 2011 "Adjustment reflects accrued interestfor FY 2010 -11 during the yearthe interest on the note was changed to 12% "* Adjustment reflects increase /decrease in estimate used on the previous SOL A B 1 C D I E F Debt Identification: Outstanding Debt All Beginning Indebtedness Adjustments Amounts Paid Against Indebtedness, from: Remaining Balance (A +B- C -D -E) 501, page and line: Brief Description Increases (attach explanation) Decreases - (attach explanation) Prior Yr Current Yr Tax Increment Other Funds Pg NEW Pg 1 2011 -22 Reimbursement Line Line I Agreement (7117) $ - $ 425,438 $ $ - $ 425,438 Pg 1 Pg 1 LineJ Line 2010- 2220% Housing Set Aside 2,100,000 624,000 122,662 - 1,353,338 Pg 1 Pg 1 Line K Line K 2010 -22 AS 2557 200,000 57,000 7,301 135,699 Pg Pg Line Line Pg Pg Line Line Pg Pg Line Line Pg Pg Line Line Pg Pg Line Line TOTAL - THIS PAGE $ 2,300,000 $ 425,438 1 $ 681,000 1 $ 129,963 $ - $ 1,914,475 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 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 must equal the current SOI, Form A Total Outstanding Debt column. "Adjustment reflects accrued interestfor FY 2010 -11 during the yearthe interest on the note was changed to 12% "* Adjustment reflects increase /decrease in estimate used on the previous SOL STATEMENT OF INDEBTEDNESS - FISCAL YEAR INDEBTEDNESS Form A FILED FOR THE 2010 -2011 TAX YEAR Page 1 of 2 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, 2011 Debt Identification Original Data Current Date Principal Term Interest Rate Total Interest Total Outstanding Debt Principalflnterest Due During Tax Year (A) Santa Monica Note #1' 06/30/81 871,840 Demand .S% Above CSM Rate 2,837,785 133,692 (B) Santa Monica #6 10/24/78 4,400,000 Demand .5% Above CSM Rate 33,245,252 1,580,308 (C) Pkg Structure Reimb. Agreement 11/29/78 10,717,707 30 Years None - 123,973 123,973 (D) D/T Coop /Reimb. Agreement*` 12/17185 16,187,626 Open None I - 3,473,013 - (E) 1992-93 20% Shortfall 12/14/93 15,365 Open None - 10,310 10,310 (F)'2011 -29 Admin Indirect (7117) 06/21111 1,182,404 Open None 1,182,404 42,030 (G) 2011 -29 Reimbursement Agreement 06/21/11 5,455,263 Open None - 5,455,263 193,914 (H) 2010-28 20% Set Aside 06/15/10 20,630,541 Open None 20,630,541 749,000 (1) Master Cooperation Agreement (9267) 09/01/10 82,837,833 lOpen None - 81,633,864 4,287,443 Sub Total, This Page'. Y _a vra :, '._as ...... . -.. -. ,. + $ 148,592,405 $ _ 7,120,670 Totals Forwarded From All Other Pages Total his Page 16,734,070 477,000 $ 165,326,475 $ 7,597,670 Purpose of Indebtedness: (A) Land, construction, relocation and operation costs (F) Operating expenditures (B) For land transfer (G) Operating expenditures (C) Pkg. Structure Agreement (Est. based on formula calculation) (H) 20% Housing Set Aside (Per Sec. 33334.2 of Ca Redev Law) (D) Third Street mall imp. (Reduced for sale of COP'S during 1986 -87) (I) various public improvements and affordable housing (E) Low and moderate income housing fund "Notes are payable on demand with accrued interest Interest rate was changed to 7% in 2010 -11 STATEMENT OF INDEBTEDNESS - FISCAL YEAR INDEBTEDNESS Form A FILED FOR THE 2010 -2011 TAX YEAR Page 2 of 2 Nance 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, 2011 Original Data I current Interest Total Total Principal /Interest Debt Identification Date Principal Term Rate Interest Outstanding Debt Due During Taz Year (A) 2010 -11 Reimbursement Agreement (7117) 06115/10 $ 434,200 Open None $ - $ $ (B) 2010 -11 Admin Indirect 06/15/10 40,806 Open None - - - (M 2010 -28 AB 2557 06115/10 614,000 Open None - 1,872,812 68,000 (D) 2010 -29 Pass Through per A61290 06/15110 15,018,000 Open None - 14,861,258 409,000 E) F) (G) (H) I) (J) (K) - iota] This Page Purpose of Indebtedness: (A) Operating Expenditures (G) (B) Operating Expenditures (H) (0) AB 2557 fees (1) (D) AB 1290 fees (J ) (E) (K) (F) (L) STATEMENT OF INDEBTEDNESS - FISCAL YEAR INDEBTEDNESS Form A FILED FOR THE 2010 -2011 TAX YEAR Page 1 of 3 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, 2011 Debt Identification Original Data Current Date Principal Term Interest Rate Total Interest Total Outstanding Debt Principal /Interest Due During Tar. Year (A) 2006 Earthquake Project Bonds 04/27/06 64,750,000 30 years 4.50% 32,302,558 64,963,227 3,519,855 (B) 2002 -03 Promissory Note- Parking Structures 06/20/03 60,000,000 Open 7.00% 32,550,000 60,741,748 3,669,698 (C) 2010 -11 Reimb. Agreement (7117) - 06/15/10 4,760,868 Open None - - (D) 201042 AS 2557 06/15110 46,111,000 Open None 64,836,285 1,321,000 (E) 2011 -42 Property based assessment district 07127/08 257,099 Open None 4,370,683 4,370,683 (F) 1996 -97 Reimb. Agreement (6606) 1102/97" 20,000,000 Open None - 12,250,194 - (G) 2008 Seismic Retrofit Pkg Structure #4 (8809) 09/10/07 5,468,200 Open None - 261,694 261,694 (H) 2011 -42 Reimb. Agreement (7117) 06/21/11 5,169,652 Open None - 365,808,659 5,169,652 (1)20104220% Housing Set Aside 06/15/10 13,274,000 Open None - 675,698,972 13,797,000 (J) 2011 Earthquake Bonds 06/07/11 41,050,000 30 years 5.00% 58,516,009 99,566,009 2,000,000 (K) Master Cooperation Agreement (9267) 09/01/10 5,393,191,968 Open None 5,293,136,050 31,454,049 (L) SMMUSD Civic Center Joint Use (9374) 06/28111 234,313,000 32 years None 234,313,000 11,712,000 Sub Total, This Page s v�., l .. �s , .,. + $ 6,895,946,521 $ 77,275,631 Totals Forwarded From All Other Pages 1,360,969,576 44,748,255 Total This Page $ 8,256,916,097 $ 122,023,866 Purpose of Indebtedness: (A) Refunding of 1999 bonds, reduced by 20% paid by low /mod fund (G) Seismic Retrofit Pkg Structure 4 (B) Acquisition of parking structures (H) Operating Expenditures (C) Operating Expenditures (1) 20% Housing Set Aside (Per Sec 3334.2 of Ca Redev. Law) (D) AS 2557 payments (J) Property acquisition and development (E) assessment on property (K) various public Improvements and affordable housing (F) Commercial Steetscape Project (L) Joint use development projectwith Santa Monica Malibu Unified School District Name o: 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, 2011 Page 2 of 3 Debt Identification Original Data current Date Principal Terre Interest Rate Total Interest Total Outstanding Debt Principal /Interest Due During Tax Year (A) 2000 -01 Reimb. Agreement - Palisades Bluff (7954) 05/22/01 $ 1,500,000 Open None - $ 678,782 S 678,782 (B) PS 2 Seismic Retrofit (9190) 07101110 2,091,834 Open None 222,171 222,171 (C) 2002 -03 Pkg Structure Perf. Agreement (8181) 01/09/03 - 60,000,000 Open None - 59,452,903 3,400,000 (D) 2007 Seismic retrofit Structure 2 (8734) 06/03/07 489,500 Open None - 55,637 55,637 (E) 2002 -03 Palisades Bluff /Hsg Coop. Agrmnt(8180) 01/09/03 - 50,000,000 Open None 47,174,028 2,000,000 (F) 2011 -12 Admin Indirect 06/21111 79,489 Open None - 5,793,469 5,793,469 (G) 2010 -42 Pass Throughs Per AB1290 06115/10 721,674,000 Open None - 1,067,530,860 18,389,000 (H) Wells Fargo Term Loan 03/11/11 60.000,000 6 years variable - 67,200,000 5,000,000 (1) 2008 2nd & 4th St Ped. & Smeetscape Imp (8816) 10124/07 2,531,000 Open None - 711,050 711,050 (J) 2005 -06 Seismic Retrofit Structure 4 (8474) 07/18/05 731,500 Open None - - I - (K) 2009 Parking Structures 7 -8 Facade Imp (8949) 05/28109 9,000,000 Open INone - 1,315,575 1,315,575 (L) - otal his Page a n h -., -, l 3 -% ,- _ �., - ,. „ ,. -'. $ 1,250,134,475 $ 37,565,684 Purpose of indebtedness: (A) 2000 -01 Reimb. Agreement- Palisades Bluff Project (B) Seismic retrofit (C) 2002 -03 Seismic retrofit/rehabilitate downtown parking structures (D) 2007 Seismic retrofit structure 2 (E) 2002 -03 Palisades Bluff stabilization project and affordable housing projects (F) Operating expenses (G) Pass Throughs Per AB1290 (Sec 33607.5 (b) of Ca Redev Law) (H) acquisition and development of property (1) street improvements (J) Seismic retrofit of parking structure 4 (K) Facility improvement (L) "Debt amount was increased from $8,950,200 to $10,866,200 per cooperation agreement dated 4116/02. MAY601 BUIP •' y 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 .Dune 30, 2011 Form A Page 3 of 3 Debt Identification Original Data Current Date Principal Term - Interest Rate Total Interest Total Outstanding Debt Principalllnterest Due During Tax Year (A) 2010 -11 Admin Indirect 06/15110 $ 79,489 Open None - $ - $ - (8) 2010 -11 Property based assessment district 07/27108 257,099 Open None - - (C) 4th and Arizona Property Acquisition 11110/10 105,010,658 Open None - 103,097,440 1,697,440 (D)2010 -11 ERAF 06/15/10 4,295,350 Open None - (E) Freeway bridging and capping (9233) 07/0/10 3,156,506 Open None - - 2,764,851 1,800,000 (F) Palisades Garden Walk (9234) 07/01/10 3,200,000 Open None - 1,606,597 1,200,000 (G) EXPO Green Streets (9235) 07/01/10 3,156,508 Open None 2,881,082 2,000,000 (H) EXPO light rail, Pico Lib, Civic Aud (9236) 07101110 1,452,590 Open None - 485,131 485,131 (K) (L) his Page -.,. ., ,...._ ' .. - , . $ 110,835,101 $ 7,182,571 Purpose of Indebtedness: (A) Operating Expenditures (E) development of additional park space (E) property assessment (F)' park development (C) property acquisition (G) street enhancement project (D) ERAF payment (H) civic center projects STATEMENT OF INDEBTEDNESS - FISCAL YEAR INDEBTEDNESS Form A FILED FOR THE 2010 -2011 TAX YEAR Page 9 of 2 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, 2091 Purpose of Indebtedness: Original Data - Current (F) Low and moderate income housing fund Interest Total Total Principal /Interest (H) Low and moderate income housing fund Debt Identification Date Principal Term Rate Interest Outstanding Debt Due During Tax Year — Adjusted to reflect 80% financing by Ocean Park Fund and 20% financing Low /Mod Housing Fund .5% Above (A) Santa Monica Note #2 06/30181 $ 855,368 Demand CSM Rate $ - $ 13,772,169 $ (6)2010 - 2820% Housing Set Aside 06115/10 12,675,000 Open None 10,448,955 704,000 .5% Above (C) Santa Monica Note #5' 09/14/83 157,521 Demand CSM Rate 1,726,726 (D) Rehab Off -Site Housing 05/08/84 2,810,500 50 Years None 314,574 132,206 (E) OF Refunding Bonds - 2002 "' 05/02/02 13,250,090 16 years 5.03% 6,014,979 9,392,808 1,181,037 (F)1988- 8920 %Shortfall 12/12/89 180,383 Open None 180,383 180,383 (G) 1990 -91 20% Shortfall 01/14/92 15,030 Open None - 2,500 2,500 (H) 1991-92 20% Shortfall 01/26/93 32,582 Open None 32,582 32,582 (p 1992-93 20% Shortfall 12/14/93 72,763 Open None 72,763 72,763 (J)2010 -11 Reimb. Agreement (7117) 1 08/15/10 1 189,900 Open None Sub Total, his Page C ; $ 35,943,460 $ 2,305,471 Totals Forwarded From All Other Pages 173,352,388 1,539,515 otel i his Page $ 209,295,848 $ 3,844,986 Purpose of Indebtedness: (A) Redevelopment and operation costs (F) Low and moderate income housing fund (B) 20% Housing Set Aside (G) Low and moderate income housing fund (C) Federal project portion closeout costs (H) Low and moderate income housing fund (D) Lease of units at 175 Ocean Park Boulevard ( I) Low and moderate income housing fund (E) Advance refunding of Ocean Park 1992 bonds (J) Operating Expenditures Interest is accrued annually if total amount owing is not paid. — Adjusted to reflect 80% financing by Ocean Park Fund and 20% financing Low /Mod Housing Fund Nacre 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, 2011 Form A Page 2 of 2 Debt Identification - Original Data current Date Principal Term Interest Rate Total Interest Total Outstanding Debt PrincipalMterest Due During Tax Year (A) 2010 -11 Admin Indirect 06/15/10 S 92,680 Open None $ - $ - $ - (6) 2011 -22 Admin Indirect 06/21111 1,401,414 Open None 1,401,414 98,644 (C) 2011 -22 Reimbursement Agreement 06/21/11 3,309,713 Open None 3,309,713 232,967 (D) (E) 2010 -28 AS 2557 06/15/10 1,214,000 Open None 994,199 50,508 F) - - - (G) Master Cooperation Agreement (9267) 9/1/2010 173,223,570 Open None 167,647,062 1,157,396 (H) (p (J) (K) (L) Total his Page } ,�es.. r* �,... _ ,,.. „, .. .: .. U mrW $ 173,352,388 $ 1,539,515 Purpose of Indebtedness: (A) Operating Expenditures (B) Operating Expenses (C) Operating Expenses (D) (E) AB 2557 fees (F) (G) various public improvements and affordable housing (H) (j) (K) (L) STATEMENT OF INDEBTEDNESS - FISCAL YEAR INDEBTEDNESS Form A FILED FOR THE 2010 -2011 TAX YEAR Page 1 of 1 Nance 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, 2011 Purpose of Indebtedness: (A) Redevelopment and operation costs - (B) various public improvements and affordable housing (C) Federal project portion closeout costs (D) Lease of units at 175 Ocean Park Boulevard Series 1992 (E) Advance Refunding of Ocean Park 1992 Bonds (F) Operation Expenditures (G) Operation Expenditures (H) Operation Expenditures (1) Operation Expenditures (J) 20% Housing Set Aside (Per Sec 33334.2 of Ca Redev Law) (K) AS 2557 fees (L) Original Data Current - Interest Total Total Principallinterest Debt Identification Date Principal Term Rate Interest Outstanding Debt Due During Tax Year .5% Above (A) Santa Monica Note #2 06/30/81 $ 387,899 Demand CSM Rate $ - $ 1,702,178 $ (B) 2010 Master Cooperation Agreement (9267) 09/01/10 23,646,620 Open None 22,929,819 41,908 .5% Above (C) Santa Monica Nate #5 09/14/83 123,315 Demand CSM Rate 213,415 (D) Rehab Off -Site Housing 05108184 1,093,500 50 Years None 595,877 16,994 (E) OP Refunding Bonds -2002* 05/02/02 1 2,201,910 16 Years 5.03% 999,574 1,560,905 196,265 (F) 2010 -11 Reimb. Agreement (7117) 06115/10 23,679 Open None (G) 2010 -11 Admin Indirect 06/15/10 15,401 Open None (H) 2011 -12 Admin Indirect 06/21111 180,142 Open None 180,142 12,680 (1) 2011 -12 Reimbursement Agreement (7117) 06/21/11 425,438 Open None 425,438 29,946 (J)2010- 2820% Housing Set Aside 06115/10 L 1,353,338 Open None 1,353,336 119,619 (K) 2010 -28 AS 2557 06115/10 135,699 Open None 135,699 6,492 (L) { This Page +- -'. $ 29,096,811 $ _ 424,104 Totals Forwarded From All Other Pages - otal i his Page 424,104 Purpose of Indebtedness: (A) Redevelopment and operation costs - (B) various public improvements and affordable housing (C) Federal project portion closeout costs (D) Lease of units at 175 Ocean Park Boulevard Series 1992 (E) Advance Refunding of Ocean Park 1992 Bonds (F) Operation Expenditures (G) Operation Expenditures (H) Operation Expenditures (1) Operation Expenditures (J) 20% Housing Set Aside (Per Sec 33334.2 of Ca Redev Law) (K) AS 2557 fees (L) STATEMENT O POST FISCAL YEAR INDEBTEDNESS FILED FOR THE 2010-2011 • • •r'.• Name of Redevelopment Agency Redevelopment Agency of the City of Santa Monica Name of Project Area Earthquake Recovery Redevelopment Project For indebtedness Entered into post June 30, 2011 as of October 1, 2011 - Original Data Current Interest Total Total Principal /Interest Debt Identification Date Principal - Term Rate Interest Outstanding Debt Due During Tax Year I(A) Continuation Payment 11 -42 08/09/11 525,933,459 Open - 525,933,459 26,830,703 (a) (D) (E) (F) (G) (H) (IJ _ (J) (K) (L) Sub Total, €_ _, .. ...,... v. his Page $ 525,933,459 $ 26,830,703 Totals Forwarded nuns nn vumci rage. Total 525,933,459 $ 26,830,703 Purpose of Indebtedness: (A) remittance payment Neither the identification of Continuation Payment 1142 in this statement Of Indebtedness, nor the City's payment of any remittances contemplated by ABX127 shall be deemed to be, nor are they intended as, an acknowledgment of the validity of ABX126 and ABX3 27, and the City reserves all rights in its sale discretion to challenge the validity of any or all provisions of ABX126 and ABX127 in any administrative orjudicial proceeding without prejudice to the City's right to recover any amounts remitted under Part 1.9 (commending with Section 34192) added to Division 24 of the Health and Safety code by ABX127. Attachment D California Department of Housing and Community Development Redevelopment Agency Annual Housing Activity Report Fiscal Year 2010 -2011 CALIFORNIA DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT REDEVELOPMENT AGENCY ANNUAL HOUSING ACTIVITY REPORT FY ENDING: June /30 12011 Agency Name and Address: County of Jurisdiction: City of Santa Monica Redevelopment Agency Los Angeles 1901 Main Street, Suite D Did the Agency pay SERAF from LMIHF? Santa Monica, CA 90405 ❑ Yes 0 No 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' activities in accordance with Section 33080.6. Please answer each ueq stion below. Your answers determine 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 year. No financial transactions were completed). Q Active (Financial and /or housing transactions occurred during the reporting year) ❑ Inactive (No financial and /or housing transactions occurred during the reporting year). ONLY COMPLETE ITEM 7 ❑ Dismantled (Agency adopted an ordinance and dissolved itself before start of reporting year). ONLY COMPLETE ITEM 7 2. During reporting year, how many adopted project areas existed? 4 Of these, how many were merged during vear? 0 If the agency has one or more adopted project areas complete SCHEDULE HCD -A for each proiect area. If the agency has no adopted project areas DO NOT complete SCHEDULE HCD -A (refer to next question). 3. Within an area outside of any adopted project area(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 construction of any affordable units over the next two years? X Yes (any question). Complete SCHEDULE HCD -B. ❑ No (all questions). DO NOT complete SCHEDULE HCD-13 (refer to next question). 4. Did the agency's Low & Moderate Income Housing Fund have any assets during the reporting period? 0 Yes. Complete SCHEDULE HCD -C. ❑ No. DO NOT complete SCHEDULE HCD -C. 5. During the reporting period, were housing units completed within a project area and /or assisted by the agency outside a project are Yes. Complete all applicable HCD SCHEDULES DI -D7 for each housing proiect completed and HCD SCHEDULE E. ❑ No. DO NOT complete HCD SCHEDULES DI-D7 or HCD SCHEDULE E.- 6. Specify whether method A and /or B was used to report financial and housing activity information to HCD: ❑ A. Forms. All required HCD SCHEDULES A, B, C, DI -D7, and E are attached. 0 B. On -line (http://wlvw.hcdca.govb-dal) "Lock Report" date: . HCD SCHEDULES not required. (lock 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 are correct. Date Signature of Authorized Agency Representative Telephone Number • IFNOT REQUIRED TO REPORT, SUBMIT ONLYA PAPER COPY OF THIS PAGE. • IF REQUIRED TO REPORT, AND REPORTING BY USING PAPER FORMS (INPLACE OFREPORTING ON- LINE), SUBMIT THISPAGE AND ALL APPLICABLE HCD FORMS (SCHEDULESA -E) WITIT A COPY OFAGENCY'S AUDIT. • IT REPORTING ON -LINE, PRINT AND SUBMIT "CONFIRMATIONLETTER" UPONLOCICING REPORT • MAILA COPYOF(a) CONFIRMATIONLETTER( IFHCD REPORT WAS ELECTRONICALLYFILED )OR(h) COMPLETED FORMSAND (c) AUDIT REPORTTO BOTHHCD AND THE SCO: Department of Housing & Community Development Division ofXousingPolicy Redevelopment Section 1800 3"r Street, Suite 430 Sacramento, CA 95814 Redevelopment Agency Annual Report - Fiscal Year 2010 -2011 (Revised: 7- 22 -11) The State Controller Division ofAceounting and Reporting Local Government Reporting Section 3301 CStreet. Suite 500 Sacramento, CA 95816 HCD -Cover Page 1 of I SCHEDULE HCD -A Inside Project Area Activity for Fiscal Year that Ended 06 130 12011 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Downtown Preparees Name, Title: Fin Tang, Acting Administrative Services Officer preparers E -Mail Address: nia.tang @smgov.net Preparer's Telephone No: 310 - 458 -2232 1. Project Area Information Preparer's Facsimile No: 310 -396 -6036 GENERAL INFORMATION a. 1. Year 1st plan for project area was adopted: 1976 2. Year that plan was last amended (if applicable): 2006 3. Was plan amended after 2001 to extend time limits per Senate Bill 211 (Chapter 741, Statutes of 2001)? YesnNoR 4. Current expiration of plan: 01 /13 /2019 me day yr b. If project area name has changed, give previous name(s) or number: N/A c. Year(s) of any mergers of the project area: N/A Identify former project areas that d. Year(s) project area plan was amended involving real property that either: (1) Added property to plan: N/A (2) Removed property from plan: N/A 2. Affordable Housing Replacement and /or Inclusionary or Production Requirements (Section 33413). Pre -1976 project areas 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 area 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. Date: N/A / me day yr Resolution Scope (applicable Section 33413 requirements): N/A Post -1975 project areas and geographic areas 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 -In from Internal Fords 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(7) when reporting 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(I) or on Line 3h(2) if the repayment of loan principal is a result of the FY2009 -10 and /or FY2010 -11 SERAF. California Redevelopment Agencies —Fiscal Year 2010-2011 _ HCD -A Sch A (Revised: 7 -22 -2011) Page 1 of 7 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Downtown Project Area Housing 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 year. 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 project area is named as beneficiary in the authorizing resolution. Any other revenue sources not repotted on lines 3a.-3i., should 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). Report SERAF on Line 3a(3). Next, on Line 3a(4), report the amount of Tax Increment set -aside allotted before any exemption and /or deferral. To determine the amount of Tax Increment deposited to the Housing Fund [Line 3a(7)], subtract allowable amounts exempted [Line 3a(5)] and/or deferred [Line 3a(6)] from the net amount allocated to the Housing Fund [Line 3a(4)]. a. Tax Increment: 100% Allocation: $ 2,802,293 (1) of Gross (2) Calculate only 1 set -aside amount: either A or B below: _ (A) 20% required by 33334.2 (Line 3a(1) x 20%): $ 560,459 (B) 30% required by 33333.10(8) (Line 3a(1) x 30 %): $ (Senate Bill 211, Chapter 741, Statutes of 2001) (3) Tax Increment Allocated to Housing Fund: $ 560,459 (A) SUSPENSION for SERAF Payment: Only allowed in FY2009 -10 per H &SC Section 33334.2(k) (B) If amount allocated to Housing Fund on Line (3) above differs from the 20% or 30% amount on above line (2) (A) or (B), identify Project Area(s) accounting for difference: Project Area Difference (4) Amount Exempted (H &SC Section 33334.2) ($ ) [if there is an amount exempted, also complete page 3, #5a(l) - (2)]: (5) Amount Deferred (H &SC Section 33334.6) - ($ ) [if there is an amount deferred, also complete pages 4 -5, #5b(l) - (4)]: (6) Total deposit to the Housing Fund [Net result of Line 3 through 3a(5)1: $ 560,459 b. Interest Income: $ 9,322 c. Rental /Lease Income (combine amounts reported to the SCO): $ d. Sale of Real Estate: $ e. Grants (combine amounts reported to the SCO): $ f. Bond Administrative Fees: $ g. Deferral Repayments tether than SERAF - [also complete, Line 5b(3), pg 4]: $ h. Loan Repayments - other than SERAF: $ i. Debt Proceeds: - $ j. Other Revenue(s) [Explain and identify amount(s)]: $ 0 k. SERAF LOAN Repayments (also complete Sch -C, pg 3, 118(e) & 923, pg 9) $- 0 1. SERAF SUSPENSION Repayments (also complete Sch -A, pg 3, #4 & Sch -C, 423 pg 9) $ m. Total Project Area Receipts Deposited to Housing Fund (add lines 3a(6) and 3b — 3k.): $ 569,781 California Redevelopment Agencies— Fiscal Year 2010 -2011 - HCD -A Sch A (Revised: 7- 22 -11) Page 2 of 7 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Downtown •Supplemental Educational Revenue Augmentation Fund (SERAF) Suspension of property Tax Revenue Deposit 4. Refer to FY 2009 -10 Sch A, page 2, Line 3a(3)(A). Check box below and provide information only if the agency for just FY 2009 -10 exercised suspension option to not make full minimum allocation and deposit of tax increment to the Housing Fund for the purpose of using suspension funds to meet the FY 2009 -10 SERAF obligation. Note, pursuant to Health and Safety Section 33334.2(k), repayment is required before June 30, 2015. N/A ❑ SERAF [H &SC Section 33334.2(k)]. In FY 2009 -10 the agency exercised option to suspend allocating and depositing a portion of the minimum 20% of gross property tax increment. Instructions: Please include amounts for all fiscal years between FY 2009 -10 and FY 2014 -15 to record agency compliance with repayment requirements as referenced in H &SC Section 33334.2(k)(1)(2)(3). Report cumulative total of all project area suspensions and repayments in Schedule `C, page 9, box 23. Exemption(s) and Deferral(s) 5. a.(I) If an exemption was claimed on Page 2, Line 3a(5) to deposit less than the required amount, complete the following information: Check only one of the Health and Safety Code Sections below (Note: An Annual Finding is regzrired to be submitted to HCD) N/A ❑ 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 incurred before May I, 1991 requiring continued use of this funding. Note: Pursuant to Section 33334.2(a)(3)(C), this exemption expired on June 30, 1993 but contracts entered into prior to May 1, 1991 may not be subject to the exemption sunset. ❑ Other: Specify code section and reason(s): (2) For any exemption claimed on Page 2, Line 3a(5) acrd Line 5a(1) above, identify: Date that initial (1') finding was adopted: / / Resolution # _ me day yr Adoption date of reporting Year finding: / / Resolution # _ mo day yr Cal ifomia Redevelopment Agencies —Fiscal Year 2010-2011 Sch A (Revised: 7- 22 -11) Date sent to HCD: me day yr Date sent to HCD: / / me day yr HCD -A Page 3 of 7 Coll Col Col 13 Balance Identify any (Prior year Col 3 Fiscal Years Applicable to SUSPENSION Identify any Balance minus SERAF Suspension and Amount for SUSPENSION Current year Col 2 Repayment Deposit FY 2009 -2010 Renavmen Repayment) 2009-2010 $ $ $ 2010-2011 $ $ 11 - 2012. $ $ 2012-2013 $ $ 2013-2014 . $ $ - 2015 - e t t $ $ Exemption(s) and Deferral(s) 5. a.(I) If an exemption was claimed on Page 2, Line 3a(5) to deposit less than the required amount, complete the following information: Check only one of the Health and Safety Code Sections below (Note: An Annual Finding is regzrired to be submitted to HCD) N/A ❑ 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 incurred before May I, 1991 requiring continued use of this funding. Note: Pursuant to Section 33334.2(a)(3)(C), this exemption expired on June 30, 1993 but contracts entered into prior to May 1, 1991 may not be subject to the exemption sunset. ❑ Other: Specify code section and reason(s): (2) For any exemption claimed on Page 2, Line 3a(5) acrd Line 5a(1) above, identify: Date that initial (1') finding was adopted: / / Resolution # _ me day yr Adoption date of reporting Year finding: / / Resolution # _ mo day yr Cal ifomia Redevelopment Agencies —Fiscal Year 2010-2011 Sch A (Revised: 7- 22 -11) Date sent to HCD: me day yr Date sent to HCD: / / me day yr HCD -A Page 3 of 7 Agency Name: Santa Monica Redevelopment Agency Exemptions and Deferrals continued Project Area Name: Downtown Deferral(s) NIA 5. b.(1) If a Deferral was claimed on Page 2, Line 3a(6) to deposit less than the required amount, complete the following information: Check only one of the Health and Safety Code Sections below - ❑ Section 33334.6(d): Applicable to project areas 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 Health & Safety Code Section here: (2) For any deferral claimed on page 2, Line 3a(6) and Line 5b(1) above, identify: Date initial (1") finding 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 me day yr (3) A deferred set -aside per Section 33334.6(d) constitutes indebtedness to the Housing Fund. Summarize the amount(s) of set -aside deferred and repayments made during the reporting year and the cumulative amount deferred as of end of FY: 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 (use box above if needed): Difference: $ Reason(s): (4) 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 ❑ 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 Amount Deferred Amount Repaid Deferral Balance Fiscal Year This Repotting FY this Reporting FY Minus cumulative yr Repayments''') (1) Last Reporting FY day yr $ (2) This Reporting FY $ - $ $ Deferral balance for this repo•tingfiscal year. Should also be shown on HCD -C, page 3, 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 (use box above if needed): Difference: $ Reason(s): (4) 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 ❑ 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 / l- ino day yr mo day yr mo day yr mo day yr California Redevelopment Agencies -Fiscal Year 2010-2011 HCD -A - Sch A (Revised: 7- 22 -11) Page 4 of 7 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Downtown Actual Project Area Households Displaced and Units and Bedrooms Lost Over Reporting Year: 6. a. Redevelopment Project Activity. Pursuautto 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 year, (refer to Section 33413 for unit and bedroom replacement requirements). Number of Households/Units /Bedrooms Project Activity VL VL L M AM Total Households Permanently Displaced — Elderly o Households Permanently Displaced - Non Elderly o Households Permanently Displaced - Non Elderly o Households Permanently Displaced — Total 0 o Households Permanently Displaced —Total 0 0 0 0 0 0 Units Lost (Removed or Destroyed) and Required to be Replaced o Bedrooms Lost (Removed or Destroyed) and Required to be Replaced o Above Moderate Units Lost That Agency is Not Required to Replace o Above Moderate Bedrooms Lost That Agency is Not Required to Replace o 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 repotting_ year: Number of Households Other Activity VL L M AM Total Households Permanently Displaced — Elderly o Households Permanently Displaced - Non Elderly o Households Permanently Displaced — Total 0 1 0 0 0 0 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. Date N/A / /. Name of Agency Custodian N/A mo day yr Date Name of Agency Custodian me day yr Please attach a separate sheet of paper listing any additional housing plans adopted. Estimated Project 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). Number of Households Project Activity VL L M AM Total Households Permanently Displaced - Elderly o Households Permanently Displaced - Non Elderly o Households Permanently Displaced - Total 0 0 0 0 0 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 Date Name of Agency Custodian mo day yr ! / Name of Agency Custodian mo day yr Please attach a separate sheet of paper listing any additional housing plans adopted. California Redevelopment Ageneies— Fiscal Year 2010 -2011 HCD -A Sch A (Revised: 7- 22 -11) Page 5 of 7 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Downtown Units Developed Inside the Project Area to Fulfill Requirements of Other Project Area(s) 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 rehabilitate 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, ethnic, or economic segregation. Were any dwelling units in this project area developed to partially or completely satisfy another project area's requirement to construct new or substantially rehabilitate dwelling units? ❑ No. ❑ Yes. Date initial finding was adopted? / / Resolution 4 Date sent to HCD: me day yr me day yr Number of Dwelling Units Name of Other Project Area(s) VL L M Total L M Total, Units Sold Over Reporting Year 0 I I o Units Made Equal This Reporting Yr to Units Sold One Reporting Yr Ago 0 in 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 0 0 0 0 0 0 0 0 0 0 Sales of Owner- Occupied Units Inside the Project Area Prior to the Expiration of Land Use Controls a 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 of owner- 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 repotting year? ❑®No []Yes SLR Equal Units. KNo ❑Yes Were reporting year funds spent to make units equal in affordability to units sold over the last three reporting years? F— Total Proceeds From Sales Over Reporting Year Number of Units SALES VL L M Total, Units Sold Over Reporting Year I I o Equal Units. KNo ❑Yes Were reporting year funds spent to make units equal in affordability to units sold over the last three reporting years? California Redevelopment Agencies— Fiscal Year 2010 -2011 HCD -A Sch A (Revised: 7- 22 -11) Page 6 of 7 <— Total LMIHF Spent On Equal Units Over Reporting Year Number of Units SALES VL L M Units Made Equal This Reporting Yr to Units Sold Over This Reporting Yr Units Made Equal This Reporting Yr to Units Sold One Reporting Yr Ago in Units Made Equal This Reporting Yr to Units Sold Two Reporting Yrs Ago Units Made Equal This Reporting Yr to Units Sold Three Reporting Yrs Ago California Redevelopment Agencies— Fiscal Year 2010 -2011 HCD -A Sch A (Revised: 7- 22 -11) Page 6 of 7 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Downtown 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 years from the date of the agreement or contract executed over the reporting year. 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. NONE DO NOT REPORT ANY UNITS ON THIS SCHEDULE A THAT ARE REPORTED ON OTHER HCD -As, B, OR Ds. Col A (dame of Project andlor Contractor Col B Agreement 'Execution Date Col C Estimated Completion Date (w/in 2 yrs of Col B Col D Sch C Amount Encumbered [Line 6a] Col E Sch C Amount Designated [Line 7a] VL L M Total $ $ Please attach a separate sheet of paper to list additional infomration. California Redevelopment Agencies— Fiscal Year 2010 -2011 HCD-A Sch A (Revised: 7- 22 -11) Page 7 of 7 SCHEDULE HCD -A Inside Project Area Activity for Fiscal Year that Ended 06 /30 /2011 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Earthquake Preparer's Name, Title: Nia Tang, Acting Administrative services 0111, Preparer'sE -Mail Address: nia.tang @smgov.net Preparer's Telephone No: 310 -458 -2232 1. Project Area Information Preparer's Facsimile No: 310- 396 -6036 GENERAL INFORMATION a. 1. Year Is` plan for project area was adopted: 1994 2. Year that plan was last amended (if applicable): 2006 3. Was plan amended after 2001 to extend time limits per Senate Bill 211 (Chapter 741, Statutes of 2001)? YesE- 4. Current expiration of plan: 06 /21 /2027 mo day yr b. If project area name has changed, give previous name(s) or number: N/A c. Year(s) of any mergers of the project area: N/A Identify former project areas that d. Year(s) project area plan was amended involving real property that either: (1) Added property to plan: N/A (2) Removed property from plan: N/A 2. Affordable Housing Replacement and /or Inclusionary or Production Requirements (Section 33413). Pre -1976 project areas 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 area 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. Date: N /A / /_ Too day yr Resolution Scope (applicable Section 33413 requirements): N/A Post -1975 proiect areas and geographic areas 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 -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(7) when reporting 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(1) or on Line 3h(2) if the repayment of loan principal is a result of the FY2009 -10 and /or FY2010 -11 SERAF. Califomia Redevelopment Agencies — Fiscal Year 2010 -2011 HCD -A Sch A (Revised: 7 -22 -2011) Fage 1 of 7 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Earthquake Project Area Housing Fund Revenues and Other Sources Report all revenues and other sources of funds from this project area which accrued to the Housing Fund over the reporting year. 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 project area is named as beneficiary in the authorizing resolution. Any other revenue sources not reported on lines 3a.-3i., should 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). Report SERAF on Line 3a(3). Next, on Line 3a(4), report the amount of Tax Increment set -aside allotted before any exemption and /or deferral. To determine the amount of Tax Increment deposited to the Housing Fund [Line 3a(7)], subtract allowable amounts exempted [Line 3a(5)] and/or deferred [Line 3a(6)] from the net amount allocated to the Housing Fund [Line 3a(4)]. a. Tax Increment: 67,110,142 (1) 100% of Gross Allocation: $ (2) Calculate only I set -aside amount: either A or B below (A) 20% required by 33334.2 (Line 3a(1) x 20 %): $ 13,422,028 (B) 30% required by 33333.10(8) (Line 3a(1) x 30 %): $ (Senate Bill 211, Chapter 741, Statutes of 2001) $ (3) Tax Increment Allocated to Housing Fund: $ 13,422,028 (A) SUSPENSION for SERAF Payment: e. Only allowed in FY2009 -10 per H &SC Section 33334.2(k) $ (B) If amount allocated to Housing Fund on Line (3) above differs Bond Administrative Fees: from the 20% or 30% amount on above line (2) (A) or (B), identify g. Project Area(s) accounting for difference: $ Project Area Difference Loan Repayments - other than SERAF: (4) Amount Exempted (H &SC Section 33334.2) ($ ) [if there is an amount exempted, also complete page 3, #5a(1) - (2)1: $ (5) Amount Deferred (H &SC Section 33334.6) ($ ) [if there is an amount deferred, also complete pages 4 -5, #5b(1) - (4)]: (6) Total deposit to the Housing Fund [Net result of Line 3 through 3a(5)1: . b. Interest Income: c. Rental/Lease Income (combine amounts reported to the SCO): $ d. Sale of Real Estate: $ e. Grants (combine amounts reported to the SCO): $ I. Bond Administrative Fees: $ g. Deferral Repayments �otber than SERAF - [also complete, Line 5b(3), pg 4]: $ h. Loan Repayments - other than SERAF: $ i. Debt Proceeds: $ j.. Other Revenue(s) [Explain and identify amount(s)]: Residual Cash Receipts $ 546,033.41 k. SERAF LOAN Repayments (also complete Sch -C, pg 3, #8(e) & #23, pg 9) $- 1. SERAF SUSPENSION Repayments (also complete Sch -A, pg 3, #4 & Sch -C, #23 pg 9) $ m. Total Project Area Receipts Deposited to Housing Fund (add lines 3a(6) and 3b -31c): $ California Redevelopment Agencies— Fiscal Year 2010 -2011 Sch A (Revised: 7- 22 -11) 13,422,028 223,247 26,528,395 40,71 9,703 HCD -A Page 2 of 7 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Earthquake Supplemental Educational Revenue Augmentation Fund ( SERAF) Suspension of Property Tax Revenue Deposit 4. Refer to FY 2009 -10 Sch A, page 2, Line 3a(3)(A). Check box below and provide information only if the agency for just FY 2009 -10 exercised suspension option to not make full minimum allocation and deposit of tax increment to the Housing Fund for the purpose of using suspension funds to meet the FY 2009 -10 SERAF obligation. Note, pursuant to Health and Safety Section 33334.2(k), repayment is required before June 30, 2015. N/A ❑ SERAF [H &SC Section 33334.2(k)]. In FY 2009 -10 the agency exercised option to suspend allocating and depositing a portion of the minimum 20% of gross property tax increment. Instructions: Please include amounts for all fiscal years between FY 2009 -10 and FY 2014 -15 to record agency compliance with repayment requirements as referenced in H &SC Section 33334.2(k)(1)(2)(3). Report cumulative total of all project area suspensions and repayments in Schedule `C', page 9, boa- 23. Exemption(s) and Deferrals) 5. a.(I) If an exemption was claimed on Page 2, Line 3a(5) to deposit less than the required amount, complete the following information: N/A Check only one of the Health and Safety Code Sections below (Note: An Annual Finding is required to be submitted to HCD) ❑ 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 300/0) and has specific contractual obligations incurred before May 1, 1991 requiring continued use of this funding. Note: Pursuant to Section 33334.2(a)(3)(C), this exemption expired on June 30, 1993 but contracts entered into prior to May 1, 1991 may not be subject to the exemption sunset. ❑ Other: Specify code section and reason(s) (2) For any exemption claimed on Page 2, Line 3a(5) and Line 5a(1) above, identify: Date that initial H") finding was adopted: / / Resolution # Date sent to HCD: 1110 day yr me day yr Adoption date of reporting year finding: / / . Resolution # Date sent to HCD: me day yr me day yr Califomia Redevelopment Agencies -Fiscal Year 2010 -2011 HCD -A Sch A (Revised: 7- 22 -11) Page 3 of 7 Coll Cod Col Balance Identify any (Prior year Col 3 Fiscal Years Applicable to SUSPENSION Identify any Balance minus SERAF Suspension and Amount for SUSPENSION Current year Col 2 Repayment Deposit FY 2009 -2010 Repayment Repayment) 2009-2010 $ $ $ 2010 - 2011 $ $ 2011-20, 12 $ $ 2012-20, 13 $ $ 2013 -2014 . . $ $ 2014 -2015 t t $ $ Exemption(s) and Deferrals) 5. a.(I) If an exemption was claimed on Page 2, Line 3a(5) to deposit less than the required amount, complete the following information: N/A Check only one of the Health and Safety Code Sections below (Note: An Annual Finding is required to be submitted to HCD) ❑ 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 300/0) and has specific contractual obligations incurred before May 1, 1991 requiring continued use of this funding. Note: Pursuant to Section 33334.2(a)(3)(C), this exemption expired on June 30, 1993 but contracts entered into prior to May 1, 1991 may not be subject to the exemption sunset. ❑ Other: Specify code section and reason(s) (2) For any exemption claimed on Page 2, Line 3a(5) and Line 5a(1) above, identify: Date that initial H") finding was adopted: / / Resolution # Date sent to HCD: 1110 day yr me day yr Adoption date of reporting year finding: / / . Resolution # Date sent to HCD: me day yr me day yr Califomia Redevelopment Agencies -Fiscal Year 2010 -2011 HCD -A Sch A (Revised: 7- 22 -11) Page 3 of 7 Agency Name: Santa Monica Redevelopment Agency Exemptions and Deferrals continued Project Area Name: Earthquake Deferral(s) N/A 5. b.(1) If a Deferral was claimed on Page 2, Line 3a(6) to deposit less than the required amount, complete the following information: Check only one of the Health and Safety Code Sections below ❑ Section 33334.6(d): Applicable to project areas 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 Health & Safety Code Section here: (2) For any deferral claimed on page 2, Line 3a(6) and Line 5b(l) above, identify: Date initial H") finding was adopted: V / 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 me day yr (3) A deferred set- aside.per Section 33334.6(d) constitutes indebtedness to the Housing Fund. Summarize the amount(s) of set -aside deferred and repayments made during the reporting year and the cumulative amount deferred as of end of FY: 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 (use box above if needed): Difference: $ Reason(s): (4) 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 ❑ 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 me day yr California Redevelopment Agencies — Fiscal Year 2010-2011 HCD -A Sch A (Revised: 7- 22 -11) Page 4 of 7 mo day yr 1110 day yr mo day yr mo day yr me day yr California Redevelopment Agencies — Fiscal Year 2010-2011 HCD -A Sch A (Revised: 7- 22 -11) Page 4 of 7 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Earthquake Actual Project Area Households Displaced and Units and Bedrooms Lost Over'Reporting 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 repotting year, (refer to Section 33413 for unit and bedroom replacement requirements). 3 Number of Iouseholds /Units /Bedrooms 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_ year: Number of Households Other Activity VL L M AM Total Households Permanently Displaced — Elderly 1 0 Households Permanently Displaced - Non Elderly o Households Permanently Displaced — Total 0 1 0 1 0 0 0 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 repotted on lines 6a. and 6b. Date 11 /9 /2010 mo day yr Date / me day yr Name of Agency Custodian Name of Agency Custodian Step Up on Second Please attach a separate sheet of paper listing any additional housing plans adopted. Estimated Project Area Households to be Permanently Displaced Over Current Fiscal Year: * Note: 520 Colorado Relocation Plan will replace all 16 units that were part of the original building purchased. But only 10 of the original 16 units required replacement. 4 units vacant & 2 households above AMI. 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). Number of Households Project Activity VL L M AM Total Households Permanently Displaced - Elderly 1 1 Households Permanently Displaced - Non Elderly 1 Households Permanently Displaced - Total 0 1 0 1 2 ** 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. ** 1924 & 1930 Euclid Date 4 /28 /200`? Name of Agency Custodian James Kemper Street, 1753 18th Street mo day yr and 1754 19th Street. Date / / Name of Agency Custodian _ mo day yr Please attach a separate sheet of paper listing any additional housing plans adopted. California Redevelopment Agencies— Fiscal Year 2010 -2011 "CD-A SchA (Revised: 7- 22 -11) Page 5 of 7 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Earthquake Units Developed Inside the Project Area to Fulfill Requirements of Other Project Area(s) 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 rehabilitate 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, ethnic, or economic segregation. Were any dwelling units in this project area developed to partially or completely satisfy another project area's requirement to construct new or substantially rehabilitate dwelling units? No. ❑ Yes. Date initial finding was adopted? / / Resolution # Date sent to HCD: / t mo day yr mo day yr Number of Dwelling Units Name of Other Project Area(s) VL L M Total L M Total Units Sold Over Reporting Year 0 0 Units Made Equal This Reporting Yr to Units Sold One Reporting Yr Ago 0 o Units Made Equal This Reporting Yr to Units Sold Two Reporting Yrs Ago 0 0 Units Made Equal This Reporting Yr to Units Sold Three Reporting Yrs Ago 0 0 0 0 0 0 0 0 0 0 0 0 Sales of Owner- 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 program, agencies may permit the sale of owner - 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 dining the reporting year? RNo []Yes Q Equal Units. Wo ❑Yes Were reporting year funds spent to make units equal in affordability to units sold over the last three repotting years? <-- Total Proceeds From Sales Over Reporting Year Number of Units SALES VL L M Total Units Sold Over Reporting Year 0 Equal Units. Wo ❑Yes Were reporting year funds spent to make units equal in affordability to units sold over the last three repotting years? Cal ifornia Redevelopment Agencies — Fiscal Year 2010-2011 HCD -A Sch A (Revised: 7- 22 -11) Page 6 of 7 t— Total LMII3F Spent On Equal Units Over Reporting Year Number of Units SALES VL L M Total Units Made Equal This Reporting Yr to Units Sold Over This Reporting Yr o Units Made Equal This Reporting Yr to Units Sold One Reporting Yr Ago o 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 Cal ifornia Redevelopment Agencies — Fiscal Year 2010-2011 HCD -A Sch A (Revised: 7- 22 -11) Page 6 of 7 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Earthquake 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 years from the date of the agreement or contract executed over the reporting year. 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. None DO NOT REPORT ANY UNITS ON THIS SCHEDULE A THAT ARE REPORTED ON OTHER HCD -As, B, OR Ds. Col A Name of Project and /or Contractor Col B Agreement Execution Date Col C Estimated Completion Date (Win 2 yrs of Col B) Col D Sch C Amount Encumbered [Line 6a] Col E Sch C Amount Designated [Line 7a] VL L M Total $ $ $ $ $ $ $ $ $ $ Please attach a separate sheet of paper to list additional information. California Redevelopment Agencies —Fiscal Year 2010-2011 HCD-A Sch A (Revised: 7- 22 -11) Page 7 of 7 SCHEDULE HCD -A Inside Project Area Activity for Fiscal Year that Ended 06 / 30 / 2011 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Ocean Park 1A Preparer's Name, Title: Nia Tang, Acting Administrative Services Officer Preparer'sE -Mail Address: nia.tang @smgov.net Preparer's Telephone No: 310 -458 -2232 1. Project Area Information Preparer's Facsimile No: 310 - 396 -6036 GENERAL INFORMATION a. 1. Year 1" plan for project area was adopted: 1960 2. Year that plan was last amended (if applicable): 2006 3. Was plan amended after 2001 to extend time limits. per Senate Bill 211 (Chapter 741, Statutes of 2001)? YesE]No@ 4. Current expiration of plan: 01 /01 /2012 me day yr b. If project area name has changed, give previous name(s) or number: N/A c. Year(s) of any mergers of the project area: N/A Identify former project areas that d. Year(s) project area plan was amended involving real property that either: (1) Added property to plan: N/A (2) Removed property from plan: N/A 2. Affordable Housing Replacement and /or Inclusionary or Production Requirements (Section 33413). Pre -1976 project areas 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 area 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. Date: N/A / me day yr Resolution Scope (applicable Section 33413 requirements): Post -1975 project areas and geographic areas 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(I), 3b -3f, and 3i. can be talcen 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 reputing of Other Sources as discussed below: Transfers -In from other internal funds: Repot 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 repot 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(7) when reporting 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(1) or on Line 3h(2) if the repayment of loan principal is a result of the FY2009 -10 and /or FY2010 -11 SERAF. California Redevelopment Agencies —Fiscal Year 2010 -2011 HCD -A Sch A (Revised: 7 -22 -2011) Page I of 7 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Ocean Park 1A Project Area Housing 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 year. 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 project area is named as beneficiary in the authorizing resolution. Any other revenue sources not reported on lines 3a.-3i., should be reported on Line 3j. Enter on Line 3a(1) the full 100% of gross Tax Increment allocated for 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). Report SERAF on Line 3a(3). Next, on Line 3a(4), report the amount of Tax Increment set -aside allotted before any exemption and /or deferral. To determine the amount of Tax Increment deposited to the Housing Fund [Line 3a(7)], subtract allowable amounts exempted [Line 3a(5)] and /or deferred [Line 3a(6)] from the net amount allocated to the Housing Fund [Line 3a(4)]. a. Tax Increment: (1) 100% of Gross Allocation: $ 3,436,342 (2) Calculate only 1 set -aside amount: either A or B below: (A) 20% required by 33334.2 (Line 3a(1) x 20 %): $ 687,268 (B) 30% required by 33333.10(8) (Line 3a(I) x 30 %): $ (Senate Bill 211, Chapter 741, Statutes of 20(T) (3) Tax Increment Allocated to Housing Fund: $ 687,268 (A) SUSPENSION for SERAF Payment: Only allowed in FY2009 -10 per H &SC Section 33334.2(k) (B) If amount allocated to Housing Fund on Line (3) above differs from the 20% or 30% amount on above line (2) (A) or (B), identify Project Area(s) accounting for difference: Project Area Difference (4) Amount Exempted (H &SC Section 33334.2) ($ ) [if there is an amount exempted, also complete page 3, #5a(1) - (2)]: (5) Amount Deferred (H &SC Section 33334.6) ($ ) [if there is an amount deferred, also complete pages 4 -5, #5b(1) - (4)]: (6) Total deposit to the Housing Fund [Net result of Line 3 through 3a(5)1: $ 687,268 b. Interest Income: $ 11,431 c. Rental /Lease Income (combine amounts reported to the SCO): $ d. Sate of Real Estate: $ e. Grants (combine amounts reported to the SCO): $ f Bond Administrative Fees: $ g. Deferral Repayments —other than SERAF - [also complete, Line 5b(3), pg 41: $ h. Loan Repayments - other than SERAF: $ i. Debt Proceeds: $ j. Other Revenue(s) [Explain and identify amount(s)]: $ 0 k. SERAF LOAN Renayments (also complete Sch -C, pg 3, #8(e) & #23, pg 9) $- 1. SERAF SUSPENSION Repayments (also complete Sch -A, pg 3, #4 & Sch -C, #23 pg 9) $ m. Total Project Area Receipts Deposited to Housing Fund (add lines 3a(6) and 3b — 3k.): $ 698,700 California Redevelopment Agencies —Fiscal Year 2010-2011 HCD -A Sch A (Revised: 7- 22 -11) Page 2 of 7 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Ocean Park 1A Supplemental Educational Revenue Augmentation Fund (SERAF) Suspension of Property Tax Revenue Deposit 4. Refer to FY 2009 -10 Sch A, page 2, Line 3a(3)(A). Check box below and provide information only if the agency for just FY 2009 -10 exercised suspension option to not make full minimum allocation and deposit of tax increment to the Housing Fund for the purpose of using suspension funds to meet the FY 2009 -10 SERAF obligation. Note, pursuant to Health and Safety Section 33334.2(k), repayment is required before June 30, 2015. N/A ❑ SERAF [H &SC Section 33334.2(k)]. In FY 2009 -10 the agency exercised option to suspend allocating and depositing a portion of the minimum 20% of gross property tax increment. Instructions: Please include amounts for all fiscal years between FY 2009 -10 and FY 2014 -15 to record agency compliance with repayment requirements as referenced in H &SC Section 33334.2(k)(1)(2)(3). Report cumulative total of all project area suspensions and repayments in Schedule `C', page 9, box 23. Exeml2timr(s) and Deferral's) 5. a.(1) If an exemption was claimed on Page 2, Line 3a(5) to deposit less than the required amount, complete the following information: NSA Check only one of the Health and Safety Code Sections below (Note: An Annual Finding is required to be submitted to HCD) ❑ 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 0/0) and has specific contractual obligations incurred before May 1, 1991 requiring continued use of this funding. Note: Pursuant to Section 33334.2(a)(3)(C), this exemption expired on June 30, 1993 but contracts entered into prior to May 1, 1991 may not be subject to the exemption sunset. ❑ Other: Specify code section and reason(s): (2) For any exemption claimed on Page 2, Line 3a(5) and Line 5a(1) above, identify: Date that initial H ") finding was adopted: / / - Resolution # me day yr Adoption date of reporting year finding: / ! Resolution # me day yr California Redevelopment Agencies —Fiscal Year 2010 -2011 Sch A (Revised: 7- 22 -11) Date sent to HCD: mo day yr Date sent to HCD: mo day yr HCD -A Page 3 of 7 Coll Col Coll 3 Balance Identify any (Prior year Col 3 Fiscal Years Applicable to SUSPENSION Identify any Balance minus SERAF Suspension and Amount for SUSPENSION Current year Cal 2 Repayment Deposit FY 2009 -2010 Repayment Repayment) 2009-2010 $ $ $ 2010-2011 $ $ 2011-2012 $ $ 2012-2013 $ $ 2013-2014 . . $ $ 2014 -2015 �� t $ $ Exeml2timr(s) and Deferral's) 5. a.(1) If an exemption was claimed on Page 2, Line 3a(5) to deposit less than the required amount, complete the following information: NSA Check only one of the Health and Safety Code Sections below (Note: An Annual Finding is required to be submitted to HCD) ❑ 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 0/0) and has specific contractual obligations incurred before May 1, 1991 requiring continued use of this funding. Note: Pursuant to Section 33334.2(a)(3)(C), this exemption expired on June 30, 1993 but contracts entered into prior to May 1, 1991 may not be subject to the exemption sunset. ❑ Other: Specify code section and reason(s): (2) For any exemption claimed on Page 2, Line 3a(5) and Line 5a(1) above, identify: Date that initial H ") finding was adopted: / / - Resolution # me day yr Adoption date of reporting year finding: / ! Resolution # me day yr California Redevelopment Agencies —Fiscal Year 2010 -2011 Sch A (Revised: 7- 22 -11) Date sent to HCD: mo day yr Date sent to HCD: mo day yr HCD -A Page 3 of 7 Agency Name: Santa Monica Redevelopment Agency Exemptions and Deferrals continued Project Area Name: Ocean Park 1A Deferral(s) N/A 5. b.(1) If a Deferral was claimed on Page 2, Line 3a(6) to deposit less than the required amount, complete the following information: Check only one of the Health and Safety Code Sections below ❑ Section 33334.6(d): Applicable to project areas 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 Health & Safety Code Section here: (2) For any deferral claimed on page 2, Line 3a(6) and Line 5b(1) above, identify: Date initial (ln) finding was adopted: , / / Resolution # Date sent to HCD: me day yr me day - yr Adoption date of reporting year finding: _/ I Resolution # Date sent to HCD: me day yr me day yr (3) A deferred set -aside per Section 33334.6(d) constitutes indebtedness to the Housing Fund. Summarize the amount(s) of set -aside deferred and repayments made during the reporting year and the cumulative amount deferred as of end of FY: Fiscal Year Amount Deferred This Reporting FY Amount Repaid this Reporting FY Deferral Balance Minus cumulative Repayments ") me (1) Last Reporting FY $ $ $ (2) This Reporting FY $ yr Deferral balance for this reportingfiscal year. Should also be shown on HCD-C, page 3, Line 8a. If the prior FY cumulative deferral shown above differs from what was repotted on the last HCD report (HCD -A and HCD -C), indicate the amount of difference and the reason (use box above if needed): Difference: $ Reason(s): - (4) 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 ❑ 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 me day yr me day yr me day yr me day yr me day yr California Redevelopment Agencies — Fiscal Year 2010 -2011 HCD -A sch A (Revised: 7-22-11) Page 4 of 7 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Ocean Park IA Actual Project Area Households Displaced and Units and Bedrooms Lost Over Reporting 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 reporting year, (refer to Section 33413 for unit and bedroom replacement requirements). of Households /Units /Bedrooms �ProjectActivity VL L 1 M 1 AM Total Households Permanently Disolaced = Elderly o . jUnits Lost (Removed or Destroyed) and Required to be Replaced I I I RIM 0 [ms Lost (Removed or Destroyed) Moderate Units Lost That Agency b. Othe• 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 repotted on Line 6a, report by income category the number of elderly and nonelderly households permanently displaced over the reporting year: Number of Households Other Activity VL L I M I AM Total Households Permanently Displaced — Elderly 0 Households Permanently Displaced - Non Elderly 0 Households Permanently Displaced — Total 0 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. Date N/A / mo day yr Date / /_ me day yr Name of Agency Custodian Name of Agency Custodian Please attach a separate sheet of paper listing any additional housing plans adopted. Estimated Project 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). Number of Households Project Activity VL L M AM Total Households Permanently. Displaced - Elderly 0 Households Permanently Displaced - Non Elderly 0 Households Permanently Displaced - Total 0 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 N/A / me day yr Date / / me 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 2010 -2011. HCD-A Seh A (Revised: 7-22-11) Page 5 of 7 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Ocean Park IA Units Developed Inside the Project Area to Fulfill Requirements of Other Project Area(s) 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 rehabilitate 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, ethnic, or economic segregation. Were any dwelling units in this project area developed to partially or completely satisfy another project area'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 me day yr Number of Dwellin Units - Name of Other Project Area(s) VL L M Total I L I M I Total Units Sold Over Reporting Year 0 I I I 0 Units Made Equal This Reporting Yr to Units Sold One Reporting Yr Ago 0 0 Units Made Equal This Reporting Yr to Units Sold Two Reporting Yrs Ago 0 0 Units Made Equal This Reporting Yr to Units Sold Three Reporting Yrs Ago 0 0 0 0 0 0 0 0 0 0 0 0 Sales of Owner - Occupied Units Inside the Project Area Prior to the Expiration of Land Use Controls 0 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 of owner- 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 year? 0No []Yes a .tr Total Proceeds From Sales Over Reporting Year Number of Units SALES I VL I L I M I Total Units Sold Over Reporting Year I I I I 0 Equal Units. ONo ❑Yes Were repotting year funds spent to matte units equal in affordability to units sold over the last three reporting years? California Redevelopment Agencies —Fiscal Year 2010-2011 HCD -A Sch A (Revised: 7- 22 -11) Page 6 of 7 <-- Total LMIHF Spent On Equal Units Over Reporting 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 California Redevelopment Agencies —Fiscal Year 2010-2011 HCD -A Sch A (Revised: 7- 22 -11) Page 6 of 7 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Ocean Park 1A 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 years from the date of the agreement or contract executed over the reporting year. 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. NONE DO NOT REPORT ANY UNITS ON THIS SCHEDULE A THAT ARE REPORTED ON OTHER HCD -As, B, OR Ds. Col A Name of Project and /or Contractor C01 B Agreement Execution Data Col C Estimated Completion Date (w /in 2 yrs of Col B) Col D Sch C Amount Encumbered Line 6a] Col E Sch C Amount Designated [Line 7a] VL L M Total $ $ $ $ $ $ $ $ is $ Please attach a separate sheet of paper to list additional information. California Redevelopment Agencies— Fiscal Year 2010 -2011 - HCD -A Sch A (Revised: 7- 22 -11) Pagel of 7 SCHEDULE HCD -A Inside Project Area Activity for Fiscal Year that Ended 06 / 30 12011 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Ocean Park 1B Preparers Name, Title: Nia Tang, Acting Administrative Services Officer Preparer's E -Mail Address: nia.tang @3mgov.net Preparer's Telephone No: 310- 458 -2232 1. Project Area Information Preparer's Facsimile No: 310 - 396 -6036 GENERAL INFORMATION a. 1. Year I" plan for project area was adopted: 1961 2. Year that plan was last amended (if applicable): 2006 3. Was plan amended after 2001 to extend time limits per Senate Bill 211 (Chapter 741, Statutes of 2001)7 YesnNO 4. Current expiration of plan: 01 /01 /2012 me day yr b. If project area name has changed, give previous name(s) or number: N/A c. Year(s) of any mergers of the project area: N/A Identify former project areas that d. I Year(s) project area plan was amended involving real property that either: (1) Added property to plan: N/A (2) Removed property from plan: N/A 2. Affordable Housing Replacement and /or Inclusionary or Production Requirements (Section 33413). Pre -1976 Project areas 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 area 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. Date: N/A / / Resolution Scope (applicable Section 33413 mo day yr Post 1975 project areas and geographic areas 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 -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 repot "net" funds transferred from the Debt Service Fund on HCD -A, Line 3a(7) when reporting 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(1) or on Line 3h(2) if the repayment of loan principal is a result of the FY2009 -10 and /or FY2010 -11 SBRAF. California Redevelopment Agencies — Fiscal Year 2010 -2011 HCD -A Sch A (Revised: 7 -22 -2011) Page 1 of 7 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Ocean Park 1B Project Area Housing 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 repotting year. Any income related to agency- assisted housing located outside the project area(s) should be repotted as "Other Revenue" on Line 3j. (of this Schedule A), if this project area is named as beneficiary in the authorizing resolution. Any other revenue sources not reported on lines 3a.-3i., should be reported on Line 3j. Enter on Line 3a(I) 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). Report SERAF on Line 3a(3). Next, on Line 3a(4), report the amount of Tax Increment set -aside allotted before any exemption and /or deferral. To determine the amount of Tax Increment deposited to the Housing Fund [Line 3a(7)], subtract allowable amounts exempted [Line 3a(5)] and/or deferred [Line 3a(6)] from the net amount allocated to the Housing Fund [Line 3a(4)], a. Tax Increment: (1) 100% of Gross Allocation: $ 387,177 (2) Calculate only 1 set -aside amount: either A or B below: (A) 20% required by 33334.2 (Line 3a(1) x 20 %): $ 77,435 (B) 30% required by 33333.10(g) (Line 3a(1) x 30 %): $ (Senate Bill 211, Chapter 741, Statutes of 2001) (3) Tax Increment Allocated to Housing Fund: $. 77,435 (A) SUSPENSION for SERAF Payment: Only allowed in FY2009 -10 per H &SC Section 33334.2(1) (B) If amount allocated to Housing Fund on Line (3) above differs from the 20% or 30% amount on above line (2) (A) or (B), identify Project Area(s) accounting for difference: Project Area Difference (4) Amount Exempted (H &SC Section 33334.2) ($ ) [if there is an amount exempted, also complete page 3, #5a(1) - (2)]: (5) Amount Deferred (H &SC Section 33334.6) ($ ) [if there is an amount deferred, also complete pages 4 -5, #5b(1) - (4)]: (6) Total deposit to the Housing Fund [Vet result of Line 3 through 3a(5)l: $ 77,435 b. Interest Income: $ 1,288 c. Rental /Lease Income (combine amounts reported to the SCO): $ d. Sale of Real Estate: - - $ e. Grants (combine amounts reported to the SCO): $ f. Bond Administrative Fees: $ g. Deferral Repayments tether than SERAF - [also complete, Line Sb(3), pg 4]: $ h. Loan Repayments - other than SERAF: $ i. Debt Proceeds: $ j. Other Revenue(s) [Explain and identify anrount(s)]: $ 0 k. SERAF LOAN Repayments ('also complete Sch-C, pg 3, 118(e) & #23, pg 9) $- 1. SERAF SUSPENSION Repayments (also complete Sch -A, pg 3,#4 & Sch -C, 923 pg 9) $ m. Total Project Area Receipts Deposited to Housing Fund (add lines 3a(6) and 3b— 3k.): $ 78,723 Cali4omia Redevelopment Agencies -Fiscal Year 2010 -2011 HCD -A Sch A (Revised: 7- 22 -11) Page 2 of 7 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Ocean Park 1B Supplemental Educational Revenue Augmentation Fund ( SERAF) Suspension of Property Tax Revenue Deposit 4. Refer to FY 2009 -10 Sch A, page 2, Line 3a(3)(A). Check box below and provide information only if the agency for just FY 2009 -10 exercised suspension option to not make full minimum allocation and deposit of tax increment to the Housing Fund for the purpose of using suspension funds to meet the FY 2009 -10 SERAF obligation. Note, pursuant to Health and Safety Section 33334.2(k), repayment is required before June 30, 2015. N/A ❑ SERAF [H &SC Section 33334.2(k)]. In FY 2009 -10 the agency exercised option to suspend allocating and depositing a portion of the minimum 20% of gross property tax increment. Instructions: Please include amounts for all fiscal years between FY 2009 -10 and FY 2014 -15 to record agency compliance with repayment requirements as referenced in H &SC Section 33334.2(k)(1)(2)(3). Report cumulative total of all project area suspensions and repayments in Schedule `C', page 9, box 23. Exemption(s) and Deferral(s) 5. a.(1) If an exemption was claimed on Page 2, Line 3a(5) to deposit less than the required amount, complete the following information: N/A Check only one of the Health and Safety Code Sections below (Note: An Annual Finding is required to be submitted to HCD) ❑ 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 incurred before May 1, 1991 requiring continued use of this funding. Note: Pursuant to Section 33334.2(a)(3)(C), this exemption expired on June 30, 1993 but contracts entered into prior to May 1, 1991 may not be subject to the exemption sunset. ❑ Other: Specify code section and reason(s): (2) For any exemption claimed on Page 2, Line 3a(5) and Line 5a(1) above, identify: Date that initial (1 ") finding was adopted: / / Resolution # me day yr Adoption date of reporting year finding: / / Resolution # mo day yr California Redevelopment Agencies —Fiscal Year 2010 -201 I Sch A (Revised: 7- 22 -11) Date sent to HCD: mo day yr Date sent to HCD: mo day yr HCD -A Page 3 of 7 Coll Colt Cot Balance Identify any _ (Prior year Col 3 Fiscal Years Applicable to SUSPENSION Identify any Balance minus SERAF Suspension and Amount for SUSPENSION Current year Col 2 Repayment Deposit FY 2009 -2010 Repayment Repayment) 2009-2010 - $ $ $ 2010-2011 $ $ 2011 -2012 $ $ 2012-2013 $ $ 2013-2014 . . $ $ 2014 - 2015 $ Exemption(s) and Deferral(s) 5. a.(1) If an exemption was claimed on Page 2, Line 3a(5) to deposit less than the required amount, complete the following information: N/A Check only one of the Health and Safety Code Sections below (Note: An Annual Finding is required to be submitted to HCD) ❑ 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 incurred before May 1, 1991 requiring continued use of this funding. Note: Pursuant to Section 33334.2(a)(3)(C), this exemption expired on June 30, 1993 but contracts entered into prior to May 1, 1991 may not be subject to the exemption sunset. ❑ Other: Specify code section and reason(s): (2) For any exemption claimed on Page 2, Line 3a(5) and Line 5a(1) above, identify: Date that initial (1 ") finding was adopted: / / Resolution # me day yr Adoption date of reporting year finding: / / Resolution # mo day yr California Redevelopment Agencies —Fiscal Year 2010 -201 I Sch A (Revised: 7- 22 -11) Date sent to HCD: mo day yr Date sent to HCD: mo day yr HCD -A Page 3 of 7 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Ocean Park 1B Exemptions and Deferrals continued Deferral(s) 5. b.(1) If a Deferral was claimed on Page 2, Line 3a(6) to deposit less than the required amount, complete the following information: N/A Check only one of the Health and Safety Code Sections below ❑ Section 33334.6(d): Applicable to project areas 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 prim- to July 1, 1996 with certain restrictions. ❑ Other Health & Safety Code Section here: (2) For any deferral claimed on page 2, Line 3a(6) and Line 56(1) above, identify: Date initial (h) finding was adopted: / ! Resolution # Date sent to HCD: me day yr me day yr Adoption date of reporting year finding: _/ / Resolution It Date sent to HCD: me day yr me day yr (3) A deferred set -aside per Section 33334.6(d) constitutes indebtedness to the Housing Fund. Summarize the amount(s) of set -aside deferred and repayments made during the reporting year and the cumulative amount deferred as of end of FY: Fiscal Year Amount Deferred This Reporting FY Amount Repaid this Reporting FY Deferral Balance Minus cumulative Repayments *) day (1) Last Reporting FY $ $ $ (2) This Reporting FY $ yr Deferral balance far this reportingfiscal year. Should also be shown on HCD -C, page 3, 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 (use box above if needed): Difference: $ Reason(s): (4) 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 ❑ 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 Califomia Redevelopment Agencies — Fiscal Year 2010 -2011 HCD-A Sch A (Revised: 7- 22 -11) Page 4 of 7 mo day yr me day yr me day yr mo day yr me day yr Califomia Redevelopment Agencies — Fiscal Year 2010 -2011 HCD-A Sch A (Revised: 7- 22 -11) Page 4 of 7 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Ocean Park 7B Actual Project Area Households Displaced and Units and Bedrooms Lost Over Reporting 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 reporting year, (refer to Section 33413 for unit and bedroom replacement requirements). Number of Households /Units /Bedrooms 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 year: . Number of Households Other Activity VL L M AM Total Households Permanently Displaced — Elderly o Households Permanently Displaced - Non Elderly o Households Permanently Displaced — Total o 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. Date N/A / / 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. Estimated Project 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). Number of Households Project Activity VL L M AM Total Households Permanently Displaced - Elderly o Households Permanently Displaced - Non Elderly o Households Permanently Displaced - Total o 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 N/A / / - 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 2010 -2011 HCD -A Sch A (Revised: 7-22-11) Page 5 of 7 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Ocean Park 16 Units Developed Inside the Project Area to Fulfill Requirements of Other Project Areas) 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 rehabilitate 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, ethnic, or economic segregation. Were any dwelling units in this project area developed to partially or completely satisfy another project area's requirement to construct new or substantially rehabilitate dwelling units? - tM No. ❑ Yes. Date initial finding was adopted? _/_/_ Resolution # Date sent to HCD: me day yr mo day yr Number of Dwelling Units Name of Other Project Area(s) VL L M Total L M Total Units Sold Over Reporting Year 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 0 0 0 0 0 0 0 0 0 a Sales of Owner - 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 program, agencies may permit the sale of owner - 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 year? ONo ❑Yes <-- Equal Units. ❑®No ❑Yes Were reporting year funds spent to make units equal in affordability to units sold over the last three reporting years? Total Proceeds From Sales Over Reporting Year Number of Units SALES VL L M Total Units Sold Over Reporting Year Equal Units. ❑®No ❑Yes Were reporting year funds spent to make units equal in affordability to units sold over the last three reporting years? California Redevelopment Agencies — Fiscal Year 2010 -2011 HCD —A Sch A (Revised: 7- 22 -11) Page 6 of 7 <-- Total LMIHF Spent On Equal Units Over Reporting Year Number of Units SALES VL L M Total Units Made Equal This Reporting Yr to Units Sold Over This Reporting Yr 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 Units Made Equal This Reporting Yr to Units Sold Three Reporting Yrs Ago California Redevelopment Agencies — Fiscal Year 2010 -2011 HCD —A Sch A (Revised: 7- 22 -11) Page 6 of 7 Agency Name: Santa Monica Redevelopment Agency Project Area Name: Ocean Park 1B 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 years fiom the date of the agreement or contract executed over the repotting yeae. Identify the project and/or contractor, date of the executed agreement or contract, and estimated completion date. Specify the amount repotted 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 repotting year's agreement or contract date. None DO NOT REPORT ANY UNITS ON THIS SCHEDULE A THAT ARE REPORTED ON OTHER HCD -As, B, OR Ds. Col A Name of Project and /or Contractor Col B Agreement Execution Date Col C Estimated Completion Date (w /in 2 yrs of Col B) Col D Sch C Amount Encumbered [Line 6a] Col E Sch C Amount Designated [Line 7a] VL L M Total $ $ $ $ Please attach a separate sheet of paper to list additional information. California Redevelopment Agencies— Fiscal Year 2010 -2011 HCD -A Sch A (Revised: 7- 22 -11) Page 7 of 7 SCHEDULE HCD -B Outside Project Area Activity for Fiscal Year Ended 06 /30 /2013 Agency Name: Santa Monica Redevelopment Agency Project Name: Outside Project Areas Preparer's Name, Title: Elsa Trujillo, Senior Development Analyst Preparer's E -Mail Address: elsa.trujillo @smgov.net Preparer's Telephone No: (310) 458 -2232 Preparer's Facsimile No: (310) 396 -6036 Actual Households Displaced and Units and Bedrooms Lost Outside of Project Areas) Over Reporting 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 reporting year (refer to Section 33413 for unit and bedroom replacement requirements). 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 la, report by income category the number of elderly and nonelderly households permanently displaced over the reportingyear. Number of Households Activity VL L I M AM Total Households Permanently Displaced - Elderly 0 Households Permanently Displaced - Non Elderly 0 Households Permanently Displaced — Total 0 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 /or bedrooms impacting the households reported on lines la. and lb. Date N/A / / Name of Agency Custodian mo day yr Date / / Name of Agency Custodian mo day yr Please attach a separate sheet of paper listing any additional housing plans adopted. California Redevelopment Agencies -Fiscal Year 2010 -2011 HCD -B sch B (Revised: 7 -22 -2011) Page 1 of 2 Agency Name: Santa Monica Redevelopment Agency HCD B (Outside Project Area) 2. 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 nouelderly 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 Disolacements Number of Households Activity VL L M AM Total Households Permanently Displaced - Elderly Total Units Sold Over Current Reporting Year Name of Agreement 0 Households Permanently Displaced - Non Elderly Units Made Equal This Reporting Yr to Units Sold One Reporting Yr Ago 0 Households Permanently Displaced - Total Execution Completion Date Encumbered Designated 0 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 on 2a. Date / / Name of Agency Custodian mo day yr Date / / Name of Agency Custodian me day yr Please attach a separate sheet of paper listing any additional housing plans adopted. Sales of Owner - Occupied Units Outside of Project Areas) 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 of owner - 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 frorn the date the unit was sold, expend funds to make another unit equal in affordability, at the same income level, as the unit sold, a. Sales. Did the agency permit the sale of any owner- occupied units during the reporting year? ❑®No ❑Yes b. Equal Units. Were reporting year funds spent to make units equal in affordability to units sold over the last three reporting ❑No years? Yes F Total Proceeds From Sales Over Re ortin Year Number of Units Income Level VL L M Total Units Sold Over Current Reporting Year Name of Agreement Estimated Sch C Amount b. Equal Units. Were reporting year funds spent to make units equal in affordability to units sold over the last three reporting ❑No years? Yes Affordable Units to be Constructed Outside of Project Area(s) Within Two Years From Date of Agreement or Contract 4. Pursuant to Section 33080.4(a)(t0), 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 years 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 year's agreement or contract date. DO NOT REPORT ANY UNITS SHOWN ON SCHEDULES HCD As OR Ds. Col A � Total LMIHF spent on Equal Units Over Reporting Year Number of Units Income Level VL L I M Total Units Made Equal This Reporting Yr to Units Sold Over This Reporting Yr Name of Agreement Estimated Sch C Amount 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 Execution Completion Date Encumbered Designated Units Made Equal This Reporting Yr to Units Sold Three Reporting Yrs Ago Contractor Affordable Units to be Constructed Outside of Project Area(s) Within Two Years From Date of Agreement or Contract 4. Pursuant to Section 33080.4(a)(t0), 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 years 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 year's agreement or contract date. DO NOT REPORT 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 yrs of Col B) [Line 6a] [Line 7a] VL L M Total 2602 Broadway 212/11 August 2012 $ 9,407,103 $ 33 33 2309 Oak Street 5/9/11 December 2012 $ 3,658,206 $ 12 12 $ $ Please attach a separate sheet of paper to list additional information. California Redevelopment Agencies —Fiscal Year 2010 -2011 HCD -B Sch B (Revised: 7- 22 -11) Page 2 of 2 SCHEDULE HCD -C Agency -wide Activity for Fiscal Year Ended 06 /30 /2011 Agency Name: Santa Monica Redevelopment Agency County: Los Angeles Preparer's Name, Title: Nla Tang, Acting Armin Svcs officer Preparer's Telephone No: (310) 458 -8757 Low & Moderate Income Housing Funds Preparer's E -Mail Address: nia.tang @smgov.net Preparer's Facsimile No: (310) 391 -9996 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 repotted to the State Controller. I. Beginning Balance (Use "Net Resources Available" from last fiscal year report to HCD) $ 23,168,317 a. If Beginning Balance requires adiustment(s),describegnd provide dollar amount (positive /ne ag five making_up total adjustment: Use <$> for negative amounts or amounts to be subtracted. b. Adjusted Beginning Balance [Beginning Balance plus +or minus < -> Total Adjustment(s)] $ 23,168,317 2. Project Area(s) Receipts and Housing Fund Revenues a. Total Project Area(s) Receipts. Total Summed amount of HCD - Schedule A(s) (from Line 31c) $ 42,066,907 b. Housing Fund Resources not reported on HCD Schedule -A(s) Describe and Provide Dollar Amount(s) (Positive/Negative) Malting Up Total Housing Fund Resources $ r c. Total Housing Fund Resources _ $ 0 3• Total Resources (Line lb. +Line 2a +Line 2c.) $ 65,235,224 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: k of 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). Other Uses: Non -GAAP (Generally Accepted Accounting 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 Low (CRL)1s provided for• preparers to review to determine tire appropriateness ofLmv and Moderate Income Housing Fund (LMIHF) expenditures and other uses. HCD does not represent that line items ident�rying any expenditures and other uses are allowable. CRL is accessible on the Internet (website: http://www.leginfo.ca.gov/ (California Laii)) beginningrvitli Section 33000 oflheHealt7r and Safety Cade. California Redevelopment Agencies— Fiscal Year 2010 -2011 HCD -C Sch C(Revised: 7- 22 -11) Page 1 of 11 Agency Name: Santa Monica Redevelopment Agency 4. Expenditures, Loans, and Other Uses Acauisition of Property & Buildina Sites. [33334 2(e)(1)] & Housine 133334.2(e)(6 (1) Land Purchases ( Investment —Land Heldfor Resale) ''^" $ (2) Housing Assets (FixedAsset) $ (3) Acquisition Expense $ (4) Operation of Acquired Property $ (5) Relocation Costs $ (6) Relocation Payments $ (7) Site Clearance Costs $ (8) Disposal Costs $ (9) Other [Explain and identify amount(s)] $ Reported to SCO as part of Assets and Other Debts (10) Subtotal Property/Building Sites/Housing Acquisition (Sum of Lines 1— 9) $ b. Subsidies fi-om Low and Moderate Income Housing Fund (LMII -IF): (1) 1" Time Homebuyer Down Payment Assistance $ (2) Rental Subsidies $ 1,146,547 (3) Purchase of Affordability Covenants [33413(b)2(B)] $ (4) Other [Explain and identify amount(s)]: (5) Subtotal Subsidies from LMIHF (Sum of Lines 1 -4) $ 1,146,547 c. Debt Service [33334.2(e)(9)]. If paid from LMIHF, report LMII-IF's share of debt service. If paid from Debt Service Fund, ensure "glpss" tax increment is reported on HCD -A(s) Line 3a(1). (1) Debt Principal Payments (a) Tax Allocation, Bonds &Notes $ 619,000 (b) Revenue Bonds & Certificates of Participation $ (c) City /County Advances & Loans $ (d) U. S. State & Other Long —Term Debt $ (2) Interest Expense $ 975,413 (3) Debt Issuance Costs $ (4) Other [Explain and identify amount(s)]: (5) Subtotal Debt Service (Sum of Lines 1 -4) d. Plalmine and Administration Costs 133334.3(e)(I)L: (1) Administration Costs (2) Professional Services (non Lnroject specific) (3) Planning/Survey/Design (non uroject specific) (4) Indirect Nonprofit Costs [33334.3(e)(1)(B)] (5) Other [Explain and identify amount(s)]: $ 141,000 $ 1,594,413 $ (6) Subtotal Planning and Administration (Sum of Lines 1 —5) $ 141,000 California Redevelopment Agencies —Fiscal Year 2010-2011 HCD -C Sch C (Revised: 7- 22 -I1) Page 2 of l l Agency Name: Santa Monica Redevelopment Agency 4. Expenditures, Loans, and Other Uses (continued) e. On/Off -Site Improvements [33334.2(e)(2)] Complete item 13 E Housing Construction [33334.2(e)(5)] g. Housing Rehabilitation [33334.2(e)(7)] h. Maintain Supply of Mobilehome Parks [33334.2(e)(10)] L Preservation 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 $ Loan Other Transfers Subtotal $16,252,797 (4) Subtotal Transfers Odt of Agency (Sum ofj(1) through j(3)) $ 29,643,048 k. SERAF loan [Sec 33690] Also complete Line 8e (below) and Box 23, pg 9. $ 1. Other Expenditures, Loans, and Uses [Explain and identify anmunt(s)]: $ 8,632,789 $ 4,406,935 $ 0 Subtotal Other Expenditures, Loans, and Uses $ 0 m• Total Expenditures, Loans, and Other Uses (Sum of lines 4a.-L) $ 32,525,008 5. Net Resources Available [End of Reporting Fiscal Year] [Page 1, Line 3, Total Resources minus above Line 4m, Total Expenditures, Loans, and Other Uses.] $ 32,710,216 6• Encumbrances and Unencumbered Balance a. Encumbrances. Amount of Line 5 reserved for future payment of legal contract(s) or agreement(s). See H &SC Section 33334.12(g)(2) for definition. $ 26,727,204 Also refer to Sch A, dent 10 (Col D) and Sch B, item 4 (Col D). , b. Unencumbered Balance (Line 5 minus Line 6a). Also enter on Page 4, Line l la. $ 9,215,500 7. Designated/Undesignated Amount of Available Funds a. Designated From Line 6b- Budgeted/planned to use near -term Also refer to Sch A, item 10 (Col E) and Sch $ item 4 (Col E). $ 9,215,500 b. Undesignated From Line 6b- Portion not vet budgeted /planned to use $ 8. Other Housing Fund Assets (non recurrent receivables not included as part of Line 5) a. Indebtedness from Deferrals of Tax Increment (33334.6) [refer to Sch -A(s), Lines 4 and 5b(3)]. $ b. Value of Land Purchased with Housing Funds and Held for Development of Affordable Housing. Complete Sch -C item 14. $ c. Loans Receivable for Housing Activities $ d. Residual Receipt Loans (periodic /fluctuating payments) $ 42,222,895 e. SERAF Total Receivable [Suspensions & Loans] (Also report in Sch C, Item 23, pg 9.) $ f ERAF Loans Receivable (all years) (33681) $ g. Other Assets [Explain and identify amount(s)]: It Total Other Housing Fund Assets (Sum of lines 8a.-g.) $ 42,222,895 9. TOTAL FUND EQUITY [Line 5 (Net Resources Available) +8g (Total Other Housing Fund Assets)] 74,933,111 Compare Line 9 to the below amount reported to the SCO (Balance Sheet of Redevelopment Agencies Financial Transactions Report. [Explain differences and identify amount(s)]: ENTER LOW -MOD FUND TOTAL EQUITIES (BALANCE SHEET) REPORTED TO SCO $ 74,933,111 Califomia Redevelopment Agencies — Fiscal Year 2010-2011 HCD -C Sch C (Revised: 7- 22 -11) Page 3 of 11 Agency Name: Santa Monica Redevelopment Agency Excess Surplus Information Pursuant to Section 33080.7 and Section 33334.12(g)(1), report on Excess Surplus that is required to be determined on the fist day of a fiscal year. Excess Surplus exists when the Adjusted Balance exceeds the greater of: (1) $1,000,000 or (2) the aggregate amount of tax increment deposited to the Housing Fund during the prior four fiscal years. 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 year 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 market value of land and the value received. The Unencumbered Balance is calculated by subtracting encumbrances from Net Resources Available. "Encumbrances" are funds reserved and committed pursuant to a legally enforceable contract or agreement for expenditure for authorized redevelopment housing activities [Section 33334.12(g)(2)]. For Excess Surplus calculation purposes, carry over the prior year's HUD Schedule C Adjusted Balance as the Adjusted Balance on the first day of the reporting fiscal year. Determine which is larger: (1) $1 million or (2) the total of tax increment deposited over the prior four years. Subtract the largest 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 track prior years' Excess Surplus Column Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Sum of Tax Current Current Amount 4 Prior and Total Tax Increment Reporting Year Reporting Year Expended/Encumbered Remaining Excess Current Increment Deposits Over I't Day 1St Day Against FY Balance of Surplus for Each Reporting Deposits to Prior Four Adjusted - Excess Surplus Excess Surplus as of Fiscal Year as of Years Housing Fund FYs Balance Balances End of Reporting Year End of Reporting Year 4>4 Yrs Ago FY 06/07 $11,629,988 $ $ $ 3 Rat Yrs Ago FY 07/08 $ 13,110,428 $ $ $ 2 S Yrs Ago FY 08!09 $14,257,950 $ $ $ IRgtYrAgo FY 09!10 $ 14,705,348 $ $ $ CURRENT Sum of Colunm 2 Last Year's Sch C Cot 4 minus:laL= Renm'tine Adjusted Balance � of Cot 3 or$]mrn Year (report volitive $) $ $ FY 10/11 $ 53,703,714 $ 12,789,027 $ not belmr item 12 11. Reporting Year Ending Unencumbered Balance and Adjusted Balance: a. Unencumbered Balance (End of Year) [Page 3, Line 6b] $ 91215,500 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 year $ (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 rehabilitated units will be affordable to lower- income households $ 12. Adjusted Balance (next ,, year' determination of Excess Surplus) [Line Ila minus sum of l lb(l) &11 b(2)] $ 9,215,500 Note: Adjusted Balance is not determined the same way for item 10 (Column 4, bottom) and item 12 . a. If there is remaining Excess Surplus from what was determined on the fast day of the repotting year, 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: mo day yr California Redevelopment Agencies —Fiscal Year 2010 -2011 Sch C(Revised: 7- 22 -I1) HCD -C Page 4 of 11 Agency Name: Santa Monica Redevelopment Agency Miscellaneous Uses of Funds 13. If an amount is reported in 4e., pursuant to Section 33080.4(a)(6), report the total number ofvery low -, low -, and moderate- income households that directly benefited from expenditures for onsite /offsite improvements which resulted in either new construction, rehabilitation, or the elimination of health and safely hazards. (Note: If Line 4e of this schedule does not show expenditures for improvements, no units should be reported here.) 14. If the agency is holding land for future housing development (refer to Line 8b), summarize the acreage (round to tenths, do not report square footage), zoning, date of purchase, and the anticipated start date for the housing development. Site Name/Location* No. of Acres Zoning Households Benefiting from Estimated Date Available Income Households Households Elimination of Health and Level Constructed Rehabilitated Safety Hazard Duration of Deed Restriction 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 square footage), zoning, date of purchase, 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 separate sheet of paper listing any additional sites not reported above. 15. Section 33334.13 requires agencies which have used the Housing Fund to assist mortgages in a homeownership mortgage revenue bond program, or ]ionic financing program described in that Section, to provide the following information: a. Has Agency used authority related to definitions of income or family size adjustment factors per Section 33334.13(a)? Yes ❑ No ❑ Not Applicable ❑® b. Has 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 Califomia Redevelopment Agencies — Fiscal Year 2010 -2011 HCD -C Sch C (Revised: 7- 22 -11) Page 5 of I I Agency Name: Santa Monica Redevelopment Agency 16. For this reporting period, did Agency use non -LMIHF funds as matching funds for Federal HOME and/or HOPE program? YES ❑ NO ❑■ If yes, identify amount of non -LMIHF funds used for HOME and /or HOPE program support. HOME$ HOPE$ 17. Pursuant to Section 33080.4(a)(I1), 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. DONOTSUBNIITANYDOCUO/ENTS /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, journal, etc.): Name of Agency Custodian (person): Custodian's telephone number: Place where record can be accessed: Name of document (e.g. ledger, journal, etc.): Name of Agency Custodian (person): Custodian's telephone number: Place where record can be accessed: Cash Flow Statement Nia Tang (310) 458 -8757 1901 Main St., Ste D, Santa Monica, CA 90405 18. Use of Other (non Low -Mod Funds) Redevelopment Funds for Housing Please briefly describe the use of any non -LMIHF redevelopment funds (i.e., contributions from the other 80% of tax increment revenue or other non Low -Mod funds) to construct, improve, assist, or preserve housing in the community. The Agency contributed $4.5 million of non -LMIHF toward affordable housing. 19. Suggestions/Resource Needs Please provide suggestions to simplify and improve future agency reporting and identify any training, information, 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 Monitoring Reports of Previously Completed Affordable Housing Prolects /Programs (H &SC 33418) Were all Annual Monitoring Repots received for all prior years' affordable housing projects /programs? Yes 0 No ❑ - California Redevelopment Agencies — Fiscal Year 2010 -2011 HCD -C Sch C (Revised: 7- 22 -11) Page 6 of 11 Agency Name: Santa Monica Redevelopment Agency 21. Excess Surplus Expenditure Plan (H &SC 33334.10(x) California Redevelopment Agencies — Fiscal Year 2010 -2011 HCD -C Sch C (Revised: 7- 22 -11) Page 7 of 11 Agency Name: Santa Monica Redevelopment Agency 22. Footnote area to provide additional information. California Redevelopment Agencies — Fiscal Year 2010 -2011 HCD -C Sch C (Revised: 7- 22 -11) Page 8 of 11 Agency Name: Santa Monica Redevelopment Agency 23. Agency -wide Accounting for SERAF SUSPENSION / LOAN / REPAYMENT / BALANCE Instructions: Supplemental Education Revenue Augmentation Fund (SERAF). Renayment to housiue fwld required in 5 years. Step 1: Identify FY 2009 -10 amount suspended and/or loaned and/or any repayment. Compute Balance (Col 4) Step 2: Identify FY 2010 -11 amount loaned and/or any repayment. Compute Balance (Cot 4) Step 3: Complete information requested in Cot 3 and Cot 4 for applicable years. Step 4: Repay all FY 2009 -10 suspension and loan amounts within required 5 years (before FY 2014 -15 end). Step 5: Repay all FY 2010 -11 loan amount within required 5 years (before FY 2015 -16 end). Suspension of Funds to pay SERAF in FY 2009 -10• H &SC Section 33334.2(k)(1)(2)(3) I H &SC Section 33334.2(k)(1)(2)(3), applicable only for FY 2009 -10, granted agencies the option to make SERAF payment by suspending tax increment revenue from deposit into the Low Mod Fund. Repayment is required within 5 years, by June 30, 2015. Bm•rowing of Funds to pay SERAF in FY 2009 -10 and FY 2010 -11: H &SC Section 33690(c)(1)(2) H &SC Section 33690(c)(1)(2), applicable for Fiscal Years 2009 -10 and 2010 -11, granted agencies option to make SERAF by borrowing fiends from the Low Mod Housing Fund. Full repayment is required within 5 years as follows: FY 2009 -10 amount borrowed must be fully repaid by June 30, 2015. FY 2010 -11 amount borrowed must be fully repaid by June 30,201 Penalties for Non-repayment in 5 Years: H &SC Sections 33020.5, 33331.5, 33334.2, 33688, 33690, 33690.5, 33691 and 33692. California Redevelopment Agencies —Fiscal Year 2010 -2011 HCD -C Sch C (Revised: 7-22-11) Page 9 of 11 Agency Name: Santa Monica Redevelopment Agency 24. Project Achievement and HCD Director's Award for Housing 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 Award 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 repotting year 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 f6r each underlined category below, addressing suggested topics in a narrative format that does not exceed hvo pages (see example, next page). In addition to submitting information nvith other HCD funs to the State Controller, please submit achievement information on a 3.5 inch diskette and identify the so tivare type and version. For convenience, the diskette can he separately mailed to: HCD Policy Division, 1800 3' Sheet, Sacramento, CA 95811 or data can be attached to an email and sent to appropriate staff by inquiring of appropriate staffs name and email address by calling 916445- 4728. AGENCY INFORMATION a Project Type (Choose one of the categories below and one kind of assistance representing the rip mary project type): New /Additional Units (Previously Unoccupied/Uninhabitable): Existine Units (Previously Occupied) - New Construction to own - - Rehabilitation of Owner- Occupied - New Construction to rent - Rehabilitation of Tenant - Occupied - Rehabilitation to own - Acquisition and Rehabilitation to Own - Rehabilitation to rent - Acquisition and Rehabilitation to Rent - Adaptive Re -use - Mobilehomes /Manufactured Homes - Mixed Use Infll - - Payment Assistance for Owner or Renter - Mobilehomes/Manufactured Hones - Transitional Housing - Mortgage Assistance - Other (describe) - Transitional Housing - Other (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), etc.] • 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/annenities 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 • Barriers/resistance (legal/financial/conmunity, etc.) that were overcome • Problems and creative solutions found • Lessons learned and/or recommendations for undertaking a similar 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. Califomia Redevelopment Agencies— Fiscal Year 2010 -2011 HCD -t' Sch C (Revised: 7- 22 -11) Page 10 of I I Agency Name: Santa Monica Redevelopment Agency Project 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 LMIHF and HOME funds. History The (City 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 a subdivision 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 of blight 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 creels, and a low- 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 tact 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. CalifornialZedevelopmeutAgencies— Fiscal Year 2010 -2011 HCD -C Sch C(Revised: 7- 22 -11) Page 11 of It Santa Monica Redevelopment Agency Fiscal Year 2010 -11 HCD -D Schedules - Summary New Units Inside Project Area Total Rehabilitation Inside Project Area Total Total Increase in Indusionary Obligation Di: General Projectlnformation D2: Replacement Housing Units D3: inclusionary Housing Units (Inside the Project Area) D4: Inclusionary Housing Units (Outside the Project Area) 4 EQ -New Cont.- Assisted D5: Other Housing Provided (with LMIHF) EQ -New Const. - Non - Assisted D6: Other Hosuing Units Provided (without LMIHF) Outside EO -New Corral. - Non - Assisted D7: Other Hosuing Units Provided (No Agency Assistance) ` EQ- Rehab - Assisted Outside- Rehab - Assited SCHEDULE HCD -D1 GENERAL PROJECT /PROGRAM INFORMATION For each different Project/Program (area /name /agy 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 -1 s, & Ds3 -4 -5. 2: 20 sub rehab (nonrestricted): Area 3: 4 Agy Dev. Rentals; 16 Nonagy Dev. Rentals. Complete 2 D -1 Is & 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: 852 10th Street Owner Name (optional): - Total Project/Program Units: Santa Monica Redevelopment Agency Earthquake Recovery Redevelopment Project Area 852 10th Street City: ZIP: Santa Monica Restricted Units: Unrestricted Units: #4 #0 #4 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 incomel# 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: (number must not exceed "Total Project Units') # Number of units restricted that are serving one or more Special Needs: # ❑ Check, if data not available (AIntp- A unit may .eerve multinlp "SDecial Needs" below. Sum of all the below can exceed the "Number of Units" above) # DISABLED (Mental) It 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) _-Al— c --- ; -I NI—A i Icy Tcrm I.Mar rlavimnnthhrear ucina digits. e.a. U1lU1lZUU'LI: Funding Sources: Redevelopment Funds: Replacement Housing Units Inclusionary Housin Units Other Housing Units Provided $ State Funds: With LMIHF Without LMIHF Restriction Start Date $ Private Funds: $ Restriction End Date Owner's Equity: $ TCAC /Federal Award: Perpetuity TCAC /State Award: $ Funding Sources: Redevelopment Funds: $ Federal Funds $ State Funds: $ Other Local Funds: $ Private Funds: $ Owner's Equity: $ TCAC /Federal Award: $ TCAC /State Award: $ Total Development/Purchase Cost: $ 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) ❑ With LMIHF (Sch HCD -D5) ❑ Outside Project Area (Sch HCD -D4) ❑ Without LMIFIF (Sch HCD -D6) ❑® No Agency Assistance (Sch HCD -D7) California Redevelopment Agencies - Fiscal Year 2010 -2011 HCD -D1 Sch D1 (Revised: 7- 22 -11) 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 Housing Project Name: 652 10th Street NOTE. On thisform, only report UNITS NOTREPORTED on HCD -D2 through HCD- D6fsrproject /program units that have not received gnE agency assistance. Agency assistance includes either financial assistance (LMIHF or other agency funds) or nonfinancial assistance (design, planning, etc.) provided by agency staff. In some cases, of £he 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 -D 6) 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 totalprojecUprogram 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) account for other (nonassisted) housing units provided inside a project area that increases the agency's inclusionay obligation. Reporting nonagency assisted projects outside a project area is optional if units do not make -up any part of total units reported on LICD -Dl. HCD -D7 Reporting Examples Example I (reporting partial units): A new 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 D5) and 20 above moderate units were funded with other agency funds (reported on HCD -D6)/. 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 50 reported on D2 -D6). Example 2 (reporting all units): Inside a project area a condemned, historic property was substantially rehabilitated (multi- family 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: ❑x 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: 4 4 Substantial Rehabilitation Units: Total Units: 4 4 If agency did not assist any part of protect 07C BP1147 12/17/10 identify Building Permit Numberand Date: BUILDING PERMIT NUMBER I 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: Substantial Rehabilitation Units: Total Units: If agency did not assist any 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) ❑ With LMIHF (Sch HCD -D5) ❑ Outside Project Area (Sch HCD -D4) ❑ Without LMIHF (Sch HCD -D6) California Redevelopment Agencies - Fiscal Year 2010 -2011 HCD -D7 Sch W Revised: 7 -22 -11 SCHEDULE HCD -D1 GENERAL PROJECT /PROGRAM INFORMATION For each different Project/Program (area /name /aqy or nonagy 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 -1 s, & 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 Project/Program: Project/Program Address (optional): Street: 1241 5th Street Owner Name (optional) Santa Monica Redevelopment Agency Earthquake Recovery Redevelopment Project Area 1241 5th Street Cam: Santa Monica 92 Total ProjectlProgram Units: Restricted Units: Unrestricted Units: # 49 # c # 49 'or protectsharoctrams with no RDA assistance do not complete any of below or any of HCD D2 -136. 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: (number must not exceed "Total Project Units') # Number of units restricted that are serving one or more Special Needs: # ❑ Check, if data not available t.vv.c, n unrz � ay u vo n�pa.. ..r..,..,..,., ......... .......... ......., .........._ __._., DISABLED (Mental) # FARMWORKER (Permanent) # DISABLED (Physical) # FEMALE HEAD OF HOUSHOLD # FARMWORKER (Migrant) LARGE FAMILY (4 or more Bedrooms) TRANSITIONAL HOUSING ELDERLY EMERGENCY SHELTERS (allowable use only with "Other Housing Units Provided - Without LMIHF" Sch -DI Af - v.ior.inr., anAfnr Sn.rial fUeerl I Ice Rocfrirtinn Term /enter day /monthlvear usina dialts. e.a. 07101/2002): Replacement Housing Units Inclusionary Funding Sources: Redevelopment Funds: $ Housing Units Other Housing Units Provided State Funds: $ Other Local Funds: With LMIHF Without LMIHF Restriction Start Date Owner's Equity: $ TCAC /Federal Award: $ Restriction End Date $ Total Development/Purchase Cost: $ Perpetuity Funding Sources: Redevelopment Funds: $ Federal Funds $ State Funds: $ Other Local Funds: $ Private Funds: $ Owner's Equity: $ TCAC /Federal Award: $ TCAC /State Award: $ Total Development/Purchase Cost: $ Check all appropriate form(s) below that will be used to identify all of this Project's /Program's Units: ❑ Replacement Housing Units (Sch HCD -D2) Inclusionary Units: ❑ Inside Project Area (Sch HCD -D3) ❑ Outside Project Area (Sch HCD -D4) Other Housing Units Provided: ❑ With LMIHF (Sch HCD -D5) ❑ Without LMIHF (Sch HCD -D6) ®❑ No Agency Assistance (Sch HCD -D7) California Redevelopment Agencies- Fiscal Year 2010 -2011 HCD -D1 Sch Dl (Revised 7- 22 -11) 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 Housing Project Name: 1241 5th Street NOTE: On this form, only report UNITS NOT REPORTED on HCD -D2 through HCD -D6fm• project /program units that have not received agency assistance. Agency assistance 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 D1, 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 -D 7). The intent of this form is to: (])reconcile any difference between total project/program 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 project area that increases the agency's inclusionary obligation. Reporting nonygency assisted projects outside a project area is optional if units do not make -up any part oftotal units reported on HCD -D 1. HCD -D7 Reporting Examples - Example 1 (reporting partial units): A new 100 unit project was built (reported on 11CD -D1, Inside or Outside a project area). Fifty (50) units received agency assistance 130 affordable LMIHF units (reported on either HCD -D21 D3, D4, or D5) and 20 above moderate units were funded with other agency funds (reported on ZICD -D6)]. The remaining 50 (privately financed and developed market -rate units) must be reported on HCD -D7 to make tip the difference between 100 reported on D1 and 50 reported on D2 -D6). . Example 2 (reporting all units): Inside a project area a condemned, historic property was substantially rehabilitated (multi - family 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: 49 49 Substantial Rehabilitation Units: Total Units: 49 49 If agency did not assist any part of project 07CBP0388 9/22/10 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: Substantial Rehabilitation Units: Total Units: If agency did not assist any 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) El Inside Project Area (Sch HCD -D3) ❑ With LMIHF (Sch HCD -D5) ❑ Outside Project Area (Sch HCD -D4) ❑ Without LMIHF (Sch HCD -D6) California Redevelopment Agencies - Fiscal Year 2010 -2011 H CD-D7 Sch D7 Revised: 7 -22 -I1 SCHEDULE HCD -D1 GENERAL PROJECT /PROGRAM INFORMATION For each different Project/Program (area /name /aqy or nonage dev /rental or owner), complete a D1 and applicable D2 -D7 Examples: 1: 25 minor rehab ( Nonagy Dev): Areal: 15 Owner,' Area 2: 6 Rental,' & Outside: 4 Rental. Complete 3D-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 Project/Program: ProjectlProgram Address (optional): Street: 1548 6th Street Owner Name (optional): Santa Monica Redevelopment Agency Earthquake Recovery Redevelopment Project Area 1548 6th Street City: Santa Monica, 99 Total Project/Program Units: Restricted Units: Unrestricted Units: # 50 # o # 50 For proiects /programs with no RDA assistance do not complete any of below or any of HCD 132 -136 Only complete HCD -D7. Was this a federally assisted multi - family rental project [Gov't Code Section 65865.10(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: (number must 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 $ Total Development/Purchase Cost: (4 or more Bedrooms) (allowable use oniy with "Other Housing Units Provided - Without LMIHF" Sch -D6) Affordabilitv and /or Special Need Use Restriction Term tenter day /month /near using digits, e.g. 07/01/2002): Funding Sources: Redevelopment Funds: Replacement Housing Units Inclusionary Housing Units Other Housing Units Provided State Funds: $ Other Local Funds: With LMIHF Without LMIHF Restriction Start Date Owner's Equity: $ TCAC /Federal Award: $ Restriction End Date $ Total Development/Purchase Cost: $ Perpetuity Funding Sources: Redevelopment Funds: $ Federal Funds $ State Funds: $ Other Local Funds: $ Private Funds: $ Owner's Equity: $ TCAC /Federal Award: $ TCAC /State Award: $ Total Development/Purchase Cost: $ Check all appropriate form(s) below that will be used to identify all of this Project's /Program's Units: ❑ Replacement Housing Units (Sch HCD -D2) Inclusionary Units: ❑ Inside Project Area (Sch HCD -D3) ❑ Outside Project Area (Sch HCD -D4) Other Housing Units Provided: ❑ With LMIHF (Sch HOD-D5) ❑ Without LMIFIF (Sch HCD -D6) ❑ No Agency Assistance (Sch HCD -D7) California Redevelopment Agencies - Fiscal Year 2010 -2011 HCD -D1 Sch Dl (Revised: 7- 22 -11) 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 Housing Project Name: 1548 6th Street NOTE: On this form, only report UNITS NOT REPORTED on HCD -D2 through HCD -1)6 for project /program units that have not received gnX agency assistance. Agency assistance includes eitherfinancial assistance (LMIIIF 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 projeet/program may be agency assisted (reported on HCD -D2 through 1ICD -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 betiveen total project /program 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) account for other (nonassisted) housing units provided inside a project area that increases the agency's inclusionary obligation. Reporting nonageney assisted projects outside a proiect area is optional if units do not make -up any part oftotal units reported on HCD -Dl. HCD -D7 Reporting Examples ' Example 1 (reporting partial units): A new 100 unit project was built (reported on HCD -DI, Inside or Outside a project area). Fifty (50) units received agency assistance [30 affordable LIIIIHFunits (reported on either HCD -D2, D3, D4, or D5) and 20 above moderate units werefunded 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 behveen 100 reported on DI and 50 reported on D2 -D6). - Example 2 (reporting all units): Inside a project area a condemned, historic property was substantially rehabilitated (multi- family or single-family), funded by tax credits and other privatefinancingwithout any agency assistance. Check whether Inside or Outside Project Area in completing applicable information below: x 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: 50 50 Substantial Rehabilitation Units: Total Units: 50 50 If agency did not assist any part of proiect 107CBPO366 8/2612010 identify Building Permit Number and Date: 1 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: Substantial Rehabilitation Units: Total Units: If agency did not assist any part Of proiect identify Building Permit Number and Date: BUILDING PERMIT NUMBER I 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) ❑ With LMIHF (Sch HCD -D5) ❑ Outside Project Area (Sch HCD -D4) ❑ Without LMIHF (Sch HCD -D6) California Redevelopment Agencies -Fiscal Year 2010 -2011 HCD -D7 Sch D7 Revised: 7 -22 -11 SCHEDULE HCD -D1 GENERAL PROJECT /PROGRAM INFORMATION For each different Project/Program (area /name /ag or nona. y dev /rental or owner), complete a D1 and applicable D2 -D7 Examples: 1: 25 minor rehab (Nonagy Dev): Areal: 15 Owner,' Area 2: 6 Rental, & Outside: 4 Rental. Complete 3D- I s, & Ds3 -4 -5. 2: 20 sub rehab (nonrestricted): Area 3: 4 Agy Dev: Rentals, 16 Nonagy Dev. Rentals. Complete 2D- Is & 2D-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 Appian Way Owner Name (optional): Total Project/Program Units: Restricted Units: Unrestricted Units: # 13 # 3 # 10 'or proiectslproarams with no RDA assistance do not complete any of below or any 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 Santa Monica Redevelopment Agency Earthquake Recovery Redevelopment Project Area 1751 Appian Way Cam: Santa Monica 02 Number of units occupied by ineligible households (e.g. ineligible incomel# 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 mu/tij t DISABLED (Mental) t DISABLED (Physical) t FARMWORKER (Migrant) Needs" below. Sum of an the below can exceea me rvumoer of vrurs FARMWORKER (Permanent) FEMALE HEAD OF HOUSHOLD LARGE FAMILY (4 or more Bedrooms) TRANSITIONAL HOUSING ELDERLY EMERGENCY SHELTERS (allowable use onlv with "Other Housing Units Provided - Without LMIHF" Sch -Di 11rcc19 ; icc Racfricfinn Tcrm /entar dardmonthivear using diaits. e.a. 07/01120021: Funding Sources: Redevelopment Funds: Replacement Housing Units Inclusionary Housing Units Other Housing Units Provided State Funds: $ Other Local Funds: With LMIHF Without LMIHF Restriction Start Date Owner's Equity: May 6, 2005 TCAC /Federal Award: $ Restriction End Date $ May 6, 2060 $ Check all appropriate forms) below that will be used to identify Perpetuity ❑ Replacement Housing Units Inclusionary Units: Other Housing Units Provided: (Sch HCD -D2) ❑ Inside Project Area (Sch HCD -D3) ❑ With LMIHF (Sch HCD -D5) Funding Sources: Redevelopment Funds: $ Federal Funds $ State Funds: $ Other Local Funds: $ Private Funds: $ Owner's Equity: $ TCAC /Federal Award: $ TCAC /State Award: $ Total Development/Purchase Cost: $ Check all appropriate forms) 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) ❑ With LMIHF (Sch HCD -D5) ❑ Outside Project Area (Sch HCD -D4) California Redevelopment Agencies - Fiscal Year 2010 -2011 Sch D I (Revised: 7- 22 -11) ❑ Without LMIHF (Sch HCD -D6) No Agency Assistance (Sch HCD -D7) HCD -D1 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 Housing Project Name: 1751 Appian Way NOTE: On this form, only report UNITS NOT REPORTED on HCD -D2 through HCD -D6 for project /program units that have not received arnv agency assistance. Agency assistance 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 -D6) whereas other units may be unassisted by the agency (reported on HCD -D 7). The intent of this form is to: (1) reconcile any difference between totalproject /program units reported on HCD -Dl compared to the sum of all the project's /program's units reported on HCD -D2 through HCD -D6, and (2) account for other (nonassisted) housing units provided inside a prolect area that increases the agency's inclusio ary obligation. Reporting nonauenev assisted projects outside a Protect area is optional if units do not make -up any part oftotal units reported on HCD -Dl. HCD -D7 Reporting Examples Example I (reporting partial units): A new 100 unit project was built (reported on HCD -Dl, Inside or Outside a project urea). Fifty (50) units received agency assistance [30 affordable LMIHE units (reported on either IICD -D2, D3, D4, or D5) and 20 above moderate units werefunded with other agency funds (reported on HCD -D6)]. 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 50 reported on D2 -D6). Example 2 (reporting all units): Inside a project area a condemned, historic property was substantially rehabilitated (multi- family 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 numberfor each unit type for each applicable activity: ACTIVITY: UNIT TYPE: VLOW LOW MOD AMOD TOTAL New Construction Units: 3 10 13 Substantial Rehabilitation Units: Total Units: 3 10 13 If agency did not assist any part of proiect C13324 3/15/2011 identify Building Permit Number and Date: BUILDING PERMIT NUMBER I 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: Substantial Rehabilitation Units: Total Units: If agency did not assist any part of proiect identify Building Permit Number and Date: BUILDING PERMIT NUMBER Ji 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) ❑ With LMIhIF (Sch HCD -D5) ❑ Outside Project Area (Sch HCD -D4) ❑ Without LMII-IF (Sch HCD -D6) Califomia Redevelopment Agencies - Fiscal Year 2010 -2011 - HCD -D7 Sch D7 Rcviscd: 7 -22 -11 SCHEDULE HCD -D1 GENERAL PROJECT /PROGRAM INFORMATION For each different Project/Program (area /name /aav or nonaay 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. 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 ": Outside General Title of Housing Project/Program: 3107 Santa Monica Blvd Project/Program Address (optional): Street: City: ZIP: 3107 Santa Monica Blvd. Santa Monica Owner Name (optional): Total ProjectlProgram Units: Restricted Units: Unrestricted Units: #g #1 #8 :or projects /programs with no RDA assistance do not complete any of below or any of HCD 132 -06. Only complete HCD -177. 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: (number must not exceed "Total Project Units') # Number of units restricted that are serving one or more Special Needs: # ❑ Check, if data not available (IV UIC. H wltl nrdy JC /vc 111uI Plu ✓wvvv. vu... ............ ..... . . _,,.__. _. _.. # DISABLED (Mental) If 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) Affordabilit and /or S ecial Need Use Restriction Term enter da /monthl ear using digits, e.. 07101/2002): Funding Sources: Redevelopment Funds: Replacement Housing Units Inclusionary Housing Units Other Housin Units Provided State Funds: $ Other Local Funds: With LMIHF Without LMIHF Restriction Start Date Owner's Equity: May 10, 2010 TCAC /Federal Award: $ Restriction End Date $ May 10, 2065 $ Perpetuity Funding Sources: Redevelopment Funds: $ Federal Funds $ State Funds: $ Other Local Funds: $ Private Funds: $ Owner's Equity: $ TCAC /Federal Award: $ TCAC /State Award: $ Total Development/Purchase Cost: $ 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) ❑ With LMIFIF (Sch HCD -D5) OM Outside Project Area (Sch HCD -D4) ❑ Without LMIHF (Sch HCD -D6) ❑® No Agency Assistance (Sch HCD -D7) California Redevelopment Agencies - Fiscal Year 2010 -2011 HCD -D1 Sch DI (Revised: 7- 22 -11) 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 Agency Project Area: OUTSIDE Affordable Housing Project Name: 3107 Santa Monica Blvd. Check only one. If both apply, complete a separate form for each (with another Sch -D1): ❑ Aaencv Developed Q Non - Agency Developed Check only one. If both apply, complete a separate form for each (with another Sch -D1): 0 Rental ❑ Owner- Occupied Check only one. If both apply, complete a separate 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 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. 11 11 =111 E:T=_1E__1111 1 0� Of Total, identify the number aggregated from other project areas (see HCD -A(s), Item 8): B. Substantial Rehabilitation., (Post- `931AH 1290 Definition of Value >25 %: Credit for Obligations Since 19941: 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. Of Total, identify the number aggregated from other project areas (see HCD -A(s), Item 8): C. Acquisition of Covenants (Post `931At3 1290 Reform: Only Multie Family Vlow &Low & Other Restrictions): 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. P TOTAL UNITS (Add only TOTAL of all "TOTAL Elderly / Non Elderly Units "): I If TOTAL UNITS is less than "Total Proiect/Proernnn Units" on HCD Schedule DI, report the remaining units as instructed helorv. 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) E] With LMIHF (Sch HCD -D5) ❑ Without LMIHF (Sch HCD -D6) Q 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 & Non Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. California Redevelopment Agencies -Fiscal Year 2010 -2011 - HCD -D4 Sch D4 (Revised: 7- 22 -11) SCHEDULE HCD -D7 HOUSING UNITS PROVIDED (NO AGENCY ASSISTANCE) (units not claimed on Schedule ®2,3,4,5,6) Agency: Santa Monica Redevelopment Agency Redevelopment Project Area Name, or "Outside ": Outside Housing Project Name: 3107 Santa Monica Blvd NOTE: On this form, only report UNITS NOT REPORTED on HCD -D2 through 11CD -D6 for project /program units that have not received gM agency assistance. Agency assistance includes either financial assistance (LMIHF or other agency funds) at- nonfinancial assistance (design, planning, etc.) provided by agency staff. In some cases, of the total units reported on HCD Dl, a portion of units in the sane projecilprogram may be agency assisted (reported on HCD -D2 through HCD -D6) whereas other units may be unassisted by the agency (reported on HCDD7). The intent of this form is to: (1) reconcile any difference between total projectprogrann units reported on HCD -E-ompared to the sum of all the project's /program's units reported on HCD -D2 through HCD -D6, and (2) account for other (nssisted) housing units provided inside a proiect area that increases the agency's inclusionay obligation. Reporting nonay assisted prolects outside a protect area is optional ifunits do not malce -up any part of total units reported on HCD -Dl. HCD -D7 Reporting Examples Example I (reporting partial units): A new 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 werefunded with other agency funds (reported on HCD D6)j. The remaining SO (privately financed an(I , developed market -rate units) must be reported on HCD -D7to make up the difference between 100 reported on DI and 50 reported on D2 -D6). Example 2 (reporting all units): Inside aproject area a condemned, historicproperty was substantially rehabilitated (multi- family 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: Substantial Rehabilitation Units: Total Units: If agency did not assist any part of proiect identify Building Permit Number and Date: BUILDING PERMIT NUMBER I BUILDING PERMIT DATE FxJ 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: 1 8 9 Substantial Rehabilitation Units: Total Units: 1 8 9 If agency did not assist any part of proiect 06CBPO412 7/22/2010 identify Building Permit Number and Date: BUILDING PERMIT NUMBER I 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) ❑ With LMIHF (Sch HCD -D5) rMl Outside Project Area (Sch HCD -D4) ❑ Without LMIHF (Sch HCD -D6) California Redevelopment Agencies - Fiscal Year 2010 -2011 HCD -D7 Sch D7 Revised: 7 -22 -11 SCHEDULE HCD -D1 GENERAL PROJECT /PROGRAM INFORMATION For each different Project/Program (area /name /aay or nonaav 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 -1 s, & Ds3 -4 -5. 2: 20 sub rehab (nonrestricted): Area 3: 4 Agy Dev. Rentals; 16 Nonagy Dev. Rentals. Complete 2 D- Is & 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- Is, 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: 914 4th Street Owner Name (optional): Santa Monica Redevelopment Agency Earthquake Recovery Redevelopment Area City: ZIP: Santa Monica Total Project/Program Units: Restricted Units: Unrestricted Units: # 16 # 16 # 0 ?or projects /programs with no RDA assistance, do not complete any of below or any of HCD 132 -136. Only complete HCD -D7. Was this a federally assisted multi - family rental project [Gov't Code Section 65863.10(a)(3)]? ❑ YES Q NO Number of units occupied by ineligible households (e.g. ineligible income /# of residents in unit) at FY end # 10 Number of bedrooms occupied by ineligible persons (e.g. ineligible income /ft of residents in unit) at FY end # 13 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: # 0 ❑ Check, if data not available (mote: H unit may serve DISABLED (Mental) DISABLED (Physical) FARMWORKER (Migrant) Iveeas" below. sum of all the below can exceed the "Number or Units" above) FARMWORKER (Permanent) FEMALE HEAD OF HOUSHOLD LARGE FAMILY (4 or more Bedrooms) TRANSITIONAL HOUSING ELDERLY EMERGENCY SHELTERS (allowable use onlvwith "Other Housing Affordability and /or Special Need Use Restriction Term (enter day /month /vear usina diaits, e.a. 0710112002): Replacement Funding Sources: Redevelopment Funds: $ 6,478,726 Federal Funds $ State Funds:. $ Other Local Funds: $ Private Funds: $ Owner's Equity: $ TCAC /Federal Award: $ TCAC /State Award: $ Total Development/Purchase Cost: $ 6,478,726 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) ❑ With LMIHF (Sch HCD -D5) ❑ Outside Project Area (Sch HCD -D4) ❑ Without LMIFIF (Sch HCD -D6) ❑ No Agency Assistance (Sch HCD -D7) California Redevelopment Agencies -Fiscal Year 2010 -2011 HCD -D1 Scli DI (Revised: 7- 22 -11)' Housing Units Inclusionary Housing Units Other Housing Units Provided With LMIHF Without LMIHF Restriction Start Date 10/2912008 Restriction End Date 10/29/2063 Perpetuity Funding Sources: Redevelopment Funds: $ 6,478,726 Federal Funds $ State Funds:. $ Other Local Funds: $ Private Funds: $ Owner's Equity: $ TCAC /Federal Award: $ TCAC /State Award: $ Total Development/Purchase Cost: $ 6,478,726 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) ❑ With LMIHF (Sch HCD -D5) ❑ Outside Project Area (Sch HCD -D4) ❑ Without LMIFIF (Sch HCD -D6) ❑ No Agency Assistance (Sch HCD -D7) California Redevelopment Agencies -Fiscal Year 2010 -2011 HCD -D1 Scli DI (Revised: 7- 22 -11)' 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 Redevelopment Area Affordable Housing Project Name: 914 4th Street Check only one. If both apply, complete a separate form for each (with another Sch -D1): ❑ A enc Developed 0 Non - Agency Developed Check only one. If both apply, complete a separate form for each (with another Sch -D1): ❑ Rental ❑ Owner- 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 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. Of Total, identify the number aggregated from other project areas (see HCD -A(s), Item 8): B. Substantial Rehabilitation (Post- '93 1AH 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. �16 16 10 16 1 16 10 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): 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. �E--1 TOTAL UNITS (Add only TOTAL of all "TOTAL Elderly / Non Elderly Units "): 16 If TOTAL UNITS is less than "Total Project Units" on HCD Schedule D1, 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 (Outside Project Area) Other Housing Units Provided: (Sch HCD -D2) (Sch HCD -D4) ❑ With 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 & Non Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. 0 o a o mno California Redevelopment Agencies - Fiscal Year 2010 -2011 HCD -D3 Sch D3 (Revised: 7- 22 -11) SCHEDULE HCD -D1 GENERAL PROJECT /PROGRAM INFORMATION For each different Project/Program (area /name /aqy or nonaoy 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 -1 s, & Ds3 -4 -5. 2: 20 sub rehab (nonrestricted): Area 3: 4 Agy Dev. Rentals; 16 Nonagy Dev. Rentals. Complete 2 D- Is & 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: 217 - 225 Bicknell Ave Owner Name (optional): Santa Monica Redevelopment Agency Outside 217 -225 Bicknell Ave. City: Santa Monica ZIP: Total Project/Program Units: Restricted Units: _ Unrestricted Units: # 13 # 13 #0 For projects /oroarams with no RDA assistance, do not complete any of below or any 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 JN 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: (numbermust not exceed "Total Project Units) # 0 Number of units restricted that are serving one or more Special Needs: # Q Check, if data not available (Ivutu. H WIII II1dy 5CI vG 111Ul 1P1V 0PUG,d11VGGU0 UOIUVV. JU... V, an um ulc,U VV ,.au c u - vuuu # 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) Affordahilitv and /or Snecial Need Use Restriction Term (enter day /monthlvear using digits, e.g. 07101/2002): Funding Sources: Redevelopment Funds: $ 4,503,698 Federal Funds $ State Funds: $ Other Local Funds: $ Private Funds: $ Owner's Equity: $ TCAC /Federal Award: $ TCAC /State Award: $ Total Development/Purchase Cost: $ 4,503,698 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 I- ICD -D3) ❑ With 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 2010 -2011 HCD -D1 Sch D I (Revised: 7- 22 -11) - Replacement Housing Units Inclusionary Housing Units Other Housing Units Provided With LMIHF Without LMIHF Restriction Start Date 12/14/2009 Restriction End Date 12/14/2064 Perpetuity Funding Sources: Redevelopment Funds: $ 4,503,698 Federal Funds $ State Funds: $ Other Local Funds: $ Private Funds: $ Owner's Equity: $ TCAC /Federal Award: $ TCAC /State Award: $ Total Development/Purchase Cost: $ 4,503,698 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 I- ICD -D3) ❑ With 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 2010 -2011 HCD -D1 Sch D I (Revised: 7- 22 -11) - [301111 ►DJ11114' 10121921, 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 Agency Project Area: OUTSIDE Affordable Housing Project Name: 217 -225 Bicknell Ave Check only one. If both apply, complete a separate form for each (with another Sch -131): ❑ Aaencv Developed ❑® Non - Agency 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 separate 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 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. 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,, 15%: 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. 2 1 1 F7] 13 13 Of Total, identify the number aggregated from other project areas (seeHCD -A(s), Item 8): C. Acquisition of Covenants (Post-'93/AB 1290 Reform: Only Multi - Family Vlow & Low & Other Restrictions l: 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. L—] El M TOTAL UNITS (Add only TOTAL of all "TOTAL Elderly/ Non Elderly Units "): IL 13 If TOTAL UNITS is less than "Total ProjecUProgram Units" on 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) ❑ With 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 & Non Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. - VLOW LOW MOD TOTAL INELG. I -moo moo F-T-7T i= California Redevelopment Agencies - Fiscal Year 2010 -2011 HCD -D4 Sch D4 (Revised: 7- 22 -11) SCHEDULE HCD -E Agency: Santa Monica Redevelopment Agency Name of Project or Area (if applicable, list "Outside" or "Summary ": summary 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 nnagency person or entity. # b#########$#$#######$###$#§#####§######§###$#### b#################$##$##$##### aY#### 0####§### k# # #k # # # # # # ##3Rk #RR § # #§ # § # # #t# # #§ NOTES: 1. Section 33413(b)(1), (2), and (4) require agencies to ensure that applicable percentages (30% or 15 %) of' all (market -rate and affordable) "new and substantially rehabilitated dwelling units" are made available at affordable housing cost within 10 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. Agency 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. Nonagency developed (project area units: market -rate units can not exceed 85 percent and affordable units must be at least 15 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 (.30 or.15) TOTAL units = Market -rate or Affordable (.70 or. 85) ( 70 or. 85) (30 or.15) California Redevelopment Agencies - Fiscal Year 2010 -2011 I -ICD -E Sch E -I (Revised: 7- 22 -11) PART I [H &SC Section 33413(b)(1)] AGENCY DEVELOPED UNITS DURING THE REPORTING YEAR BOTH INSIDE AND OUTSIDE OF A PROJECT AREA 1. New Units Developed by the Agency 0 2. Substantially Rehabilitated Units Developed by the Agency 0 1 Subtotal - Baseline of AAA Developed Units (add lines 1 & 2) 0 4. Subtotal of Increased Inclusionary Obligation (Line 3 x 30 %) (see Notes 1 and 2 below) 0 5. Very-Low Inclusionary Obligation Increase Units (Line 4 x 50 %) 0 PART 1I [H &SC Section 33413(b)(2)] . NONAGENCY DEVELOPED UNITS DURING THE REPORTING YEAR ONLY INSIDE A PROJECT AREA 6. New Units Developed by Any Nonagency Person or Entity 116 7. Substantially Rehabilitated Units Developed by Any Nona, gency Person or Entity 16 8. Subtotal - Baseline of Nonagency Developed Units (add lines 6 & 7) 132 9. Subtotal of Increased Inclusionary Obligation (Line 8 x 15 %) (see Notes 1 and 2 below) 20 10. Ver, Inclusionary Obligation Increase (Line 9 x 400/,0' ) 8 PART III REPORTING YEAR TOTALS 11. Total Increase in Inclusionary Obligation (add lines 4 and 9) 20 12. Very -Low Inclusionary Obligation Increase (add line 5 and 10) (Line 12 is a subset of Line 11) 8 # b#########$#$#######$###$#§#####§######§###$#### b#################$##$##$##### aY#### 0####§### k# # #k # # # # # # ##3Rk #RR § # #§ # § # # #t# # #§ NOTES: 1. Section 33413(b)(1), (2), and (4) require agencies to ensure that applicable percentages (30% or 15 %) of' all (market -rate and affordable) "new and substantially rehabilitated dwelling units" are made available at affordable housing cost within 10 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. Agency 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. Nonagency developed (project area units: market -rate units can not exceed 85 percent and affordable units must be at least 15 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 (.30 or.15) TOTAL units = Market -rate or Affordable (.70 or. 85) ( 70 or. 85) (30 or.15) California Redevelopment Agencies - Fiscal Year 2010 -2011 I -ICD -E Sch E -I (Revised: 7- 22 -11) Reference Resolution No. 534 (RAS).