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
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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]
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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
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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
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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.
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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
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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]
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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
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��
'
� 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
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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).