January 10, 2013

Transcription

January 10, 2013

CITY OF SIGNAL HILL
OVERSIGHT BOARD
2175 Cherry Avenue Signal Hill, California 90755-3799
THE CITY OF SIGNAL HILL
WELCOMES YOU TO A REGULAR MEETING OF THE
OVERSIGHT BOARD
January 10, 2013
6:00 p.m.
The City of Signal Hill appreciates your attendance. Citizen interest provides the
Oversight Board with valuable information regarding issues of the community. In
addition, meetings are streamed live on our website at www.cityofsignalhill.org, and are
televised at 7:00 a.m., 2:00 p.m., and 7:00 p.m. every day following the City Council
meeting on Charter Communications Channel 3, and Verizon FiOS Channel 38.
Meetings commence at 6:00 p.m. There is a public comment period at the beginning
of the regular meeting, as well as the opportunity to comment on each agenda item as
it arises. Any meeting may be adjourned to a time and place stated in the order of
adjournment.
The agenda is posted 72 hours prior to each meeting on the City’s website and outside
of City Hall and available at each meeting. The agenda and related reports are also
available for review online and at the City Clerk's office and Library prior to the
meeting.
Agenda and staff reports are also available at our website at
www.cityofsignalhill.org.
Pursuant to Government Code Section 54954.3, each agenda for a regular meeting
shall provide an item entitled “Public Comment” after Roll Call and the Pledge of
Allegiance and before any business is transacted. The purpose of such item shall be
to provide an opportunity for members of the public to directly address the Oversight
Board on agenda matters as well as on items of general interest to the public that are
within the subject matter jurisdiction of the Oversight Board. Speakers shall be limited
to three (3) minutes. You are encouraged (but not required) to complete a speaker
card prior to the item being considered, and give the card to a Successor Agency staff
member. The purpose of this card is to ensure speakers are correctly identified in the
minutes. However, completion of a speaker card is voluntary, and is not a requirement
to address the Oversight Board. The cards are provided at the rear of the Council
Chamber. Please direct your comments or questions to the Oversight Board.
(1) CALL TO ORDER – 6:00 P.M.
(2) ROLL CALL
CHAIR HAUBERT
VICE CHAIR NOLL
MEMBER CHERNISS
MEMBER GABEL
MEMBER WAROT
MEMBER WILLIAMSON
MEMBER YU
(3) PLEDGE OF ALLEGIANCE
(4) PUBLIC COMMENT ON ITEMS ON OR OFF THE AGENDA
(5) CHIEF ADMINISTRATIVE OFFICER REPORTS
a. Non-Housing Asset Due Diligence Review (DDR)
Summary: Pursuant to provisions in AB 1484, approved by the Governor as
part of the 12-13 budget package the Successor Agency is required to provide
a non-housing asset DDR to the Oversight Board. Health and Safety Code
Section 34179.6 (b) requires that the Oversight Board hold a public comment
session to take place prior to the approval vote discussed below.
Recommendation: Receive and file comments from the public.
b. Signal Hill Police Station and Emergency Operations Center Project Takeover
Agreement
Summary: The original contractor for the Signal Hill Police Station and
Emergency Operations Center Project has defaulted and their contract has
been terminated. The City Council as Successor Agency has approved a
Takeover Agreement between the Successor Agency and Arch Insurance
Company. Arch Insurance Company is the Surety and is now responsible to
complete the construction of the new police facility.
Recommendation: Approve the Takeover Agreement between the City Council
as Successor Agency and Arch Insurance Company.
(6) CONSENT CALENDAR
a. Minutes of the Following Meeting(s)
Regular Meeting of the Oversight Board, November 8, 2012.
Recommendation: Approve.
(7) OVERSIGHT AGENDA – NEW BUSINESS
MEMBER YU
MEMBER WILLIAMSON
MEMBER WAROT
MEMBER GABEL
MEMBER CHERNISS
VICE CHAIR NOLL
CHAIR HAUBERT
(8) ADJOURNMENT
This meeting will be adjourned to a special meeting of the Signal Hill Oversight Board
on Thursday, January 17, 2013 at 6:00 p.m., to be held in the Council Chamber of City
Hall, 2175 Cherry Avenue, Signal Hill, CA, 90755. The next regular meeting is
scheduled for Thursday, February 14, 2013 at 6:00 p.m. in the Council Chamber of City
Hall, 2175 Cherry Avenue, Signal Hill, CA, 90755.
CITIZEN PARTICIPATION
Routine matters are handled most quickly and efficiently if contact is made with the
Successor Agency staff. However, if you would like to request that a matter be
presented for Oversight Board consideration, you may do so by writing to the
Successor Agency, Oversight Board or Chief Administrative Officer. The deadline for
agenda items is 12 noon one week before the scheduled meeting. The complete
agenda, including back up materials is available on the City website.
If you need special assistance beyond what is normally provided to participate in
Oversight Board meetings, the Successor Agency staff will attempt to accommodate
you in every reasonable manner. Please call the City Clerk's office at (562) 989-7305
at least 48 hours prior to the meeting to inform us of your particular needs and to
determine if accommodation is feasible.
CITY OF SIGNAL HILL
OVERSIGHT BOARD
2175 Cherry Avenue ● Signal Hill, California 90755-3799
January 10, 2013
AGENDA ITEM
TO:
HONORABLE CHAIR
AND MEMBERS OF THE OVERSIGHT BOARD
FROM:
KENNETH C. FARFSING
CHIEF ADMINISTRATIVE OFFICER
SUBJECT:
NON - HOUSING ASSET DUE DILIGENCE REVIEW (DDR)
Summary:
Pursuant to provisions in AB 1484, approved by the Governor as part of the 12-13 budget
package, the Successor Agency is required to provide a non-housing asset DDR to the
Oversight Board (OB). Health and Safety Code Section 34179.6 (b) requires that the OB
hold a public comment session to take place prior to the approval vote discussed below.
Recommendation:
Receive and file comments from the public.
Fiscal Impact:
Pursuant to the non-housing asset DDR, $8,704 is due to the County for disbursement to
affected taxing entities.
Background and Analysis:
AB 1484 provided clean up language to the dissolution bill, ABx1 26 and added new
requirements to unwind redevelopment agencies. A major requirement is that a housing
fund DDR be completed as well as a non-housing DDR. The housing fund DDR was
completed and transmitted to the County Auditor-Controller (CAC), the Controller, and the
Department of Finance (DOF) by October 15, 2012.
Staff of the Successor Agency (SA) is required to provide the non-housing DDR to the OB,
Housing Asset DDR
January 10, 2013
Page 2
the CAC, the Controller and the DOF by December 15, 2012. Specific items to include are
the amount of cash and cash equivalents determined to be available for allocation to the
taxing entities.
Upon the receipt of the DDR, the OB is required to hold a Public Comments Session at
least five days prior to the approval vote. The purpose of this meeting is to listen to a
summary of the DDR and to take public comments. The recommended action of the OB at
the January 17, 2013 regular meeting will be to approve the non-housing DDR. The nonhousing DDR and any other accounts is due by January 15, 2013.
The OB may adjust any amount provided in the review to reflect any additional information
and analysis. The OB may also request from the SA any materials it deems necessary to
assist in its review and approval of the determination. The DOF and the CAC can offset
City sales and property tax distributions to recover any outstanding funds if deadlines are
not met.
The DDRs are required under the provisions of AB 1484. After the DDRs are completed,
the SA is required to remit unobligated funds. Once the funds have been paid, as well as
all pass-through payments, DOF will issue a Finding of Completion. The Finding of
Completion entitles the SA to certain benefits, including:
1)
SA may retain certain real property, after approval of a Long Range Property
Management Plan. The Property Management Plan is due within 6 months
of receiving a Finding of Completion. The Plan must be approved by the OB
and DOF.
2)
City loans may be repaid beginning in FY 13-14 for loans made to the RDA.
Housing loans must be repaid first. Loans may be repaid subject to a finding
by the OB that the loan was for legitimate redevelopment purposes. The
interest rate cannot exceed LAIF ratio.
3)
The SA may use unencumbered bond proceeds from bonds issued prior to
January 1, 2011 for their intended purposes.
Schedule 9 of the non-housing DDR is titled “Summary of Balance Available for Allocation
to Affected Taxing Agencies.” As of June 30, 2012, the total amount due to be remitted to
the County for distribution to affected taxing agencies is $8,704. This amount is calculated
by taking the total amount of assets held by the Successor Agency and taking deductions
for the following: assets legally restricted for uses specified by debt covenants, grant
restrictions, or restrictions imposed by other governments; assets that are not cash or cash
equivalents; balances that are legally restricted for the funding of an enforceable obligation;
balances needed to satisfy ROPS for the 2012-13 Fiscal Year, and amount of payments
made on July 12, 2012 to the County Auditor-Controller. Amounts of assets transferred to
the City are added back into the total, bringing the total owed to the County for
disbursement to $8,704.
Housing Asset DDR
January 10, 2013
Page 3
Reviewed by:
____________________
Terri J. Marsh
Administrative Services Officer/Finance Director
SUCCESSOR AGENCY TO THE SIGNAL HILL REDEVELOPMENT AGENCY
Independent Accountants’ Report on Applying Agreed-Upon Procedures
On the Signal Hill Redevelopment Agency’s
And
The Successor Agency to the Signal Hill Redevelopment Agency’s
All Other Funds
Pursuant to California Health and Safety Code Section 34179.5
AGREED-UPON PROCEDURES RELATED TO ALL OTHER FUNDS
Table of Contents
Page
Independent Accountants’ Report on Applying Agreed-Upon Procedures
Related to All Other Funds
1
Attachment A - Agreed-Upon Procedures and Findings Related to All Other Funds
2
SUPPORTING SCHEDULES AND EXHIBITS:
Schedule 1 - Listing of Assets Transferred to Successor Agency
as of February 1, 2012
Schedule 2 - Transfers to the City of Signal Hill and Other Public Agencies
Schedule 3 - Reconciliation of Financial Transactions for the Periods Ended
June 30, 2010, June 30, 2011, January 31, 2012 and June 30, 2012
Schedule 4 - Listing of Assets as of June 30, 2012
Schedule 5 - Unspent Bond Proceeds as of June 30, 2012
Schedule 6 - Listing of Non-Liquid Assets as of June 30, 2012
Schedule 7 - Listing of Cash Balances for Retention to Meet Enforceable
Obligations in Fiscal Year 2012-2013 (ROPS 1)
Schedule 8 - Listing of Cash Balances for Retention to Meet Enforceable
Obligations in Fiscal Year 2012-2013
Schedule 9 - Summary of Balance Available for Allocation to Affected
Taxing Agencies
Exhibit 1 - Resolution No. 2011-03-455 dated March 4, 2011 - Property Transfer
Exhibit 2 - Reimbursement Agreement dated January 17, 2011
Exhibit 3 - HELP Loan Agreement dated July 2, 2001
Exhibit 4 - Excerpts from Disposition and Development Agreement
dated November 14, 2006
Exhibit 5 - Attorney Letter dated December 14, 2012 Related to Instatement
of City/RDA Loans Upon Finding of Completion
Independent Accountants’ Report on Applying
Agreed-Upon Procedures Related to All Other Funds
Oversight Board of the Successor Agency
to the Signal Hill Redevelopment Agency
Signal Hill, California
We have performed the minimum required agreed-upon procedures (AUP) enumerated in
Attachment A, which were agreed to by the California Department of Finance, the California State
Controller’s Office, the Los Angeles County Auditor-Controller, and the Successor Agency to the
Signal Hill Redevelopment Agency (Successor Agency), (collectively, the Specified Parties), solely to
assist you in meeting the statutory requirements of Health and Safety Code Section 34179.5 related to
all other funds except for the Low and Moderate Income Housing Fund (All Other Funds) of the
former Signal Hill Redevelopment Agency and the Successor Agency. Management of the Successor
Agency is responsible for meeting the statutory requirements of Health and Safety Code
Section 34179.5 related to All Other Funds. This agreed-upon procedures engagement was conducted
in accordance with attestation standards established by the American Institute of Certified Public
Accountants. The sufficiency of these procedures is solely the responsibility of those parties specified
in the report. Consequently, we make no representation regarding the sufficiency of the procedures
described below, either for the purpose for which this report has been requested or for any other
purpose.
The scope of this engagement was limited to performing the agreed-upon procedures as set forth in
Attachment A. Attachment A also identifies the findings noted as a result of the procedures
performed.
We were not engaged to and did not conduct an audit, the objective of which would be the expression
of an opinion on whether the Successor Agency has met the statutory requirements of Health and
Safety Code Section 34179.5 related to All Other Funds. Accordingly, we do not express such an
opinion. Had we performed additional procedures, other matters might have come to our attention that
would have been reported to you.
This report is intended solely for the information and use of the Oversight Board and management of
the Successor Agency to the Signal Hill Redevelopment Agency, the California Department of
Finance, the California State Controller’s Office, and the Los Angeles County Auditor-Controller, and
is not intended to be, and should not be, used by anyone other than these specified parties.
Irvine, California
December 20, 2012
1
2875 Michelle Drive, Suite 300, Irvine, CA 92606 • Tel: 714.978.1300 • Fax: 714.978.7893
Offices located in Orange and San Diego Counties
ATTACHMENT A - AGREED-UPON PROCEDURES AND FINDINGS
RELATED TO ALL OTHER FUNDS
1.
Procedure:
Obtain from the Successor Agency a listing of all assets that were transferred from All Other
Funds of the former redevelopment agency to the Successor Agency on February 1, 2012. Agree
the amounts on this listing to account balances established in the accounting records of the
Successor Agency. Identify in the Agreed-Upon Procedures (AUP) report the amount of the
assets transferred to the Successor Agency as of that date.
Finding:
We agreed the amounts listed on Schedule 1 to the Successor Agency’s accounting records. The
former redevelopment agency transferred $41,031,213 in assets from All Other Funds to the
Successor Agency as detailed in Schedule 1.
2A. Procedure:
Obtain a listing prepared by the Successor Agency of transfers (excluding payments for goods
and services) from All Other Funds of the former redevelopment agency to the city that formed
the redevelopment agency for the period from January 1, 2011 through January 31, 2012. For
each transfer, the Successor Agency should describe the purpose of the transfer and describe in
what sense the transfer was required by one of the Agency’s enforceable obligations or other
legal requirements. Provide this listing as an attachment to the AUP report.
Finding:
The former redevelopment agency transferred assets totaling $13,239,678 from All Other Funds
to the City of Signal Hill as shown in Schedule 2. As of June 30, 2012, the City had transferred
the real properties totaling $11,739,678 back to the Successor Agency.
2B. Procedure:
and services) from All Other Funds of the Successor Agency to the city that formed the
redevelopment agency for the period from February 1, 2012 through June 30, 2012. For each
transfer, the Successor Agency should describe the purpose of the transfer and describe in what
sense the transfer was required by one of the Agency’s enforceable obligations or other legal
requirements. Provide this listing as an attachment to the AUP report.
Finding:
This procedure is not applicable as the Successor Agency did not make any transfers from All
Other Funds, other than payments for goods and services, to the City of Signal Hill during the
period from February 1, 2012 through June 30, 2012.
2
2C. Procedure:
For each transfer, obtain the legal document that formed the basis for the enforceable obligation
that required the transfer. Note in the AUP report the absence of any such legal document or the
absence of language in the document that required the transfer.
Finding:
See Exhibits 1 and 2 for copies of the legal documents that required the transfers to the City of
Signal Hill.
3A. Procedure:
and services) from All Other Funds of the former redevelopment agency to any other public
agency or to private parties for the period from January 1, 2011 through January 31, 2012. For
each transfer, the Successor Agency should describe the purpose of the transfer and describe in
what sense the transfer was required by one of the Agency’s enforceable obligations or other
legal requirements. Provide this listing as an attachment to the AUP report.
Finding:
The former redevelopment agency transferred cash totaling $1,277,737 from All Other Funds to
the California Housing Finance Agency as shown in Schedule 2.
3B. Procedure:
and services) from All Other Funds of the Successor Agency to any other public agency or to
private parties for the period from February 1, 2012 through June 30, 2012. For each transfer, the
Successor Agency should describe the purpose of the transfer and described in what sense the
transfer was required by one of the Agency’s enforceable obligations or other legal requirements.
Provide this listing as an attachment to the AUP report.
Finding:
This procedure is not applicable as the Successor Agency did not make any transfers from All
Other Funds, other than payments for goods and services, to other public agencies or private
parties during the period from February 1, 2012 through June 30, 2012.
3
3C. Procedure:
For each transfer, obtain the legal document that formed the basis for the enforceable obligation
that required the transfer. Note in the AUP report the absence of any such legal document or the
absence of language in the document that required the transfer.
Finding:
Schedule 2 shows the details for the enforceable obligation or other legal requirement supporting
the transfer.
4.
Procedure:
Obtain from the Successor Agency a summary of the financial transactions of the Redevelopment
Agency and the Successor Agency for the fiscal periods ended June 30, 2010, June 30, 2011,
January 31, 2012 and June 30, 2012. Ascertain that for each period presented, the total of
revenues, expenditures and transfers account fully for the changes in equity from the previous
fiscal period. Compare amounts for the fiscal period ended June 30, 2010 to the state controller’s
report filed for the Redevelopment Agency for that period. Compare the amounts for the other
fiscal periods presented to the account balances in the accounting records or other supporting
schedules.
Finding:
A reconciliation of the financial transactions of the Redevelopment Agency and the Successor
Agency for the fiscal periods ended June 30, 2010, June 30, 2011, January 31, 2012 and
June 30, 2012 is presented in Schedule 3.
5.
Procedure:
Obtain from the Successor Agency a listing of all assets from All Other Funds as of
June 30, 2012. Agree the assets on the listing to the accounting records of the Successor Agency.
Finding:
As of June 30, 2012, the Successor Agency’s total assets related to All Other Funds of the former
redevelopment agency amounted to $54,430,932 as shown in Schedule 4.
4
6.
Procedure:
Obtain from the Successor Agency a listing of asset balances held on June 30, 2012 that were
restricted for the following purposes:
 unspent bond proceeds,
 grant proceeds and program income restricted by third parties, and
 other assets with legal restrictions.
6A. Procedure - Unspent Bond Proceeds:
Obtain the Successor Agency’s computation of the restricted balances and trace individual
components of this computation to related account balances in the accounting records, or to other
supporting documentation. Obtain the legal document that sets forth the restriction pertaining to
these balances.
Finding:
As of June 30, 2012, the Successor Agency has $19,717,715 in unspent bond proceeds related to
two different bond issues as shown in Schedule 5. The bond documents restrict $16,743,571 for
use in completing the Bond Projects and $2,974,144 for funding of Bond Reserve Requirements.
$9,170,900 of the unspent bond proceeds are reported as restricted cash and investments in the
accounting records of the Successor Agency since they are being held directly. The remaining
unspent bond proceeds totaling $10,546,815 are reported as cash and investments with fiscal
agent since they are being held by the Bond Trustee.
6B. Procedure - Grant Proceeds and Program Income Restricted by Third Parties:
components of this computation to related account balances in the accounting records, or to other
supporting documentation. Obtain a copy of the grant agreement that sets forth the restriction
pertaining to these balances.
Finding:
This procedure is not applicable as the Successor Agency did not hold any grant proceeds or
program income as of June 30, 2012.
6C. Procedure - Other Assets Considered to be Legally Restricted:
components of this computation to related account balances in the accounting records or other
supporting documentation. We obtained the legal document that sets forth the restriction
pertaining to these balances.
5
6C. Finding:
The Successor Agency believes that the transfers as identified in Schedule 2 related to the partial
repayments on City advances, which have been added back to the balance available for allocation
to affected taxing agencies (see Schedule 9), are restricted. AB 1484 clarified that if the
Successor Agency completes all actions required pursuant to Health and Safety Code
Section 34179.7, the Department of Finance (DOF) must issue a Finding of Completion. Funds
in the amount of $1,500,000 are restricted pending the issuance of the Finding of Completion.
Upon issuance of the Finding of Completion by DOF, these funds would be disbursed to the City
in compliance with the promissory note and Health and Safety Code Section 34191.4. See
Exhibit 5 for Successor Agency’s legal opinion on this matter.
7.
Procedure:
Obtain from the Successor Agency a listing of assets of All Other Funds of the former
redevelopment agency as of June 30, 2012 that are not liquid or otherwise available for
distribution and ascertain if the values are listed at either purchase cost or market value as
recently estimated by the Successor Agency. For assets listed at purchased cost, trace the amount
to a previously audited financial statement or other accounting records of the Successor Agency
and note any differences. For any differences noted, inspect evidence of asset disposal
subsequent to January 31, 2012 and ascertain that the proceeds were deposited into the Successor
Agency’s trust fund. For assets listed at recently estimated market value, inspect evidence
supporting the value and note the methodology used.
Finding:
As of June 30, 2012, the Successor Agency held $26,464,766 in non-liquid assets of the former
redevelopment agency as detailed in Schedule 6.
8A. Procedure:
If the Successor Agency identified that existing asset balances were needed to be retained to
satisfy enforceable obligations, obtain an itemized schedule of asset balances (resources) as of
June 30, 2012 that were dedicated or restricted for the funding of enforceable obligations.
Compare the information on the schedule to the legal documents that formed the basis for the
dedication or restriction of the resource balance in question. Compare all current balances which
needed to be retained to satisfy enforceable obligations to the amounts reported in the accounting
records of the Successor Agency or to an alternative computation. Compare the specified
enforceable obligations to those that were included in the final Recognized Obligation Payment
Schedule (ROPS) approved by the California Department of Finance. If applicable, identify any
listed balances for which the Successor Agency was unable to provide appropriate restricting
language in the legal document associated with the enforceable obligation.
6
8A. Finding:
As of June 30, 2012, the Successor Agency’s asset balances to be retained in order to satisfy
enforceable obligations are $1,387,767 as detailed in Schedule 7. These enforceable obligations
were reported on ROPS 1.
8B. Procedure:
If the Successor Agency identified that future revenues together with balances dedicated or
restricted to an enforceable obligation are insufficient to fund future obligation payments and
thus retention of current balances is required, obtain from the Successor Agency a schedule of
approved enforceable obligations that include a projection of the annual spending requirements to
satisfy each obligation and a projection of the annual revenues available to fund those
requirements. Compare the enforceable obligations to those that were approved by the California
Department of Finance for the six month period from January 1, 2012 through June 30, 2012 and
for the six month period July 1, 2012 through December 31, 2012. Compare the forecasted
annual spending requirements to the legal document supporting the enforceable obligation and
obtain the Successor Agency’s assumptions relating to the forecasted annual spending
requirements. Obtain the Successor Agency’s assumptions for the forecasted annual revenues.
Disclose the major assumptions for the forecasted annual spending requirements and the
forecasted annual revenues in this AUP report.
Finding:
This procedure is not applicable as the Successor Agency did not identify any assets to be
retained under this procedure.
8C. Procedure:
If the Successor Agency identified that projected property tax revenues and other general purpose
revenues to be received by the Successor Agency are insufficient to pay bond debt service
payments (considering both the timing and amount of the related cash flows), obtain a schedule
demonstrating this insufficiency. Compare the timing and amounts of bond debt service
payments to the related bond debt service schedules in the bond agreement. Obtain the
assumptions for the forecasted property tax revenues and other general purpose revenues and
disclose them in this AUP report.
Finding:
This procedure is not applicable as the Successor Agency did not identify any assets to be
retained under this procedure.
7
8D. Procedure:
If Procedures 8A, 8B and 8C were performed, calculate the amount of unrestricted balances
necessary for retention in order to meet enforceable obligations. Combine the amount identified
as currently restricted balances and the forecasted annual revenues to arrive at the amount of total
resources available to fund enforceable obligations. Reduce the total resources available by the
amount of forecasted annual spending requirements. Include the calculation in this AUP report.
Finding:
The unrestricted balances necessary for retention to meet enforceable obligations are detailed in
Schedule 7. The Successor Agency does not expect any revenues to pay for these enforceable
obligations.
9.
Procedure:
If the Successor Agency identified that cash balances as of June 30, 2012 need to be retained to
satisfy obligations on the Recognized Obligation Payment Schedule (ROPS) for the period of
July 1, 2012 through June 30, 2013, obtain a copy of the final ROPS for the period of
July 1, 2012 through December 31, 2012 and a copy of the final ROPS for the period
January 1, 2013 through June 30, 2013. For each obligation listed on the ROPS, the Successor
Agency should identify (a) any dollar amount of existing cash that was needed to satisfy the
obligation, and (b) the Successor Agency’s explanation as to why the Successor Agency believes
that such balances were needed to satisfy the obligation. Include this schedule as an attachment
to this AUP report.
Finding:
The Successor Agency has identified $6,851,980 in cash balances be retained to satisfy
obligations on the Recognized Obligation Payment Schedule (ROPS) for the period of
July 1, 2012 to December 31, 2012 as shown in Schedule 8.
10.
Procedure:
Present a schedule detailing the computation of the Balance Available for Allocation to Affected
Taxing Agencies. Amounts included in the calculation should agree to the results of the
procedures performed above. Agree any deductions for amounts already paid to the County
Auditor-Controller on July 12, 2012 as directed by the California Department of Finance to
evidence of payment.
Finding:
The computation of the Balance Available for Allocation to Affected Taxing Agencies shows
that the Successor Agency has $8,704 available to be remitted to the County for disbursement to
affected taxing agencies as shown in Schedule 9.
8
11.
Procedure:
Obtain a representation letter from management of the Successor Agency acknowledging their
responsibility for the data provided and the data presented in the report or in any schedules or
exhibits to the report. Included in the representations is an acknowledgment that management is
not aware of any transfers (as defined by Section 34179.5) from either the former redevelopment
agency or the Successor Agency to other parties for the period from January 1, 2011 through
June 30, 2012 that have not been properly identified in this AUP report and its related schedules
or exhibits. Management’s refusal to sign the representation letter should be noted in the AUP
report as required by attestation standards.
Finding:
No exceptions were noted as a result of this Procedure.
9
SCHEDULE 1
LISTING OF ASSETS TRANSFERRED TO SUCCESSOR AGENCY
As of February 1, 2012
Total
as of
February 1, 2012
ASSETS
Cash and investments
Restricted cash and investments
Cash and investments with fiscal agent
Land held for resale
SUBTOTAL ASSETS (MODIFIED ACCRUAL)
$
5,710,238
9,773,828
10,546,133
12,970,522
39,000,721
Deferred charges on long-term debt
2,030,492
TOTAL ASSETS
$ 41,031,213
SCHEDULE 2
TRANSFERS TO THE CITY OF SIGNAL HILL
FOR THE PERIOD JANUARY 1, 2011 THROUGH JANUARY 31, 2012:
Date of
Transfer
Description of Transfer
Purpose of Transfer
Amount
Enforceable Obligation/Other
Legal Requirement Supporting Transfer
4/5/2011
Transfer of Real Properties
For the City to aid and cooperate in the
planning, undertaking, construction, and
operation of redevelopment projects
$ 11,739,678 (1) Assets transferred pursuant to Transfer
Agreement dated 3-4-11 (Exhibit 1) and
Health & Safety Code Section 33220
1/1/2011
Transfer of Cash
Partial repayment of City advance
750,000
(2) Loan Agreement dated 03-18-08 ( See Exhibit 2
Reimbursement Agreement dated 01-17-11,
Attachment A)
12/1/2011
Transfer of Cash
Partial repayment of City advance
750,000
(2) Reimbursement Agreement dated 01-17-11
(Exhibit 2)
$ 13,239,678
(1)
As of June 30, 2012, the City had transferred these real properties
back to the Successor Agency.
(2)
Amount added back on Summary of Balance Available for Allocation
to Affected Taxing Agencies (See Schedule 9)
TRANSFERS TO OTHER PUBLIC AGENCIES
FOR THE PERIOD JANUARY 1, 2011 THROUGH JANUARY 31, 2012:
Date of
Transfer
7/12/2011
Description of Transfer
Transfer of Cash to California
Housing Finance Agency
Purpose of Transfer
Repayment of principal and interest in full on
a loan related to the Las Brisas Neighborhood
Revitalization Plan redevelopment project.
Amount
$ 1,277,737
Enforceable Obligation/Other
Legal Requirement Supporting Transfer
Loan agreement dated July 2, 2001
City of Signal Hill was initial borrower since
the former redevelopment agency was
prohibited from securing a second HELP loan
within one year of the first one that the former
redevelopment agency had secured for the
same project. Pursuant to the loan agreement,
loan proceeds were to be used for the
acquisition and predevelopment of multifamily
rental properties for rehabilitation and project
sites for construction of multifamily rental
housing within a designated redevelopment
area. (Exhibit 3)
SCHEDULE 3
RECONCILIATION OF FINANCIAL TRANSACTIONS FOR THE PERIODS ENDED
JUNE 30, 2010, JUNE 30, 2011, JANUARY 31, 2012 AND JUNE 30, 2012
(a)
Redevelopment
Agency
12 Months Ended
6/30/2010
Assets (modified accrual basis)
Cash with fiscal agent
Accounts receivable
Taxes receivable
Interest receivable
Loans receivable
Deposits
Due from City of Signal Hill
Advance to other funds - SERAF
Total Assets
Liabilities (modified accrual basis)
Accounts payable
Accrued liabilities
Deposits payable
Advances from other funds - SERAF
Deferred revenue
(b)
Redevelopment
Agency
12 Months Ended
6/30/2011
(c)
Redevelopment
Agency
7 Months Ended
1/31/2012
(c)
Successor
Agency
5 Months Ended
6/30/2012
$
14,560,388
29,501,825
2,067,668
9,829
739,281
233,960
150,000
2,575,740
113,749
17,284,817
$
13,012,018
13,458,964
10,522,180
9,027
1,164,224
154,686
85,312
1,063,162
12,970,522
$
9,189,723
9,773,828
10,546,133
85,311
1,063,162
12,970,522
$
5,000,502
9,247,926
17,125,161
4,384
44,952
24,494,592
$
67,237,257
$
52,440,095
$
43,628,679
$
55,917,517
$
925,781
873,818
6,000,000
10,530
$
1,938,606
909,863
6,004,000
1,063,162
1,012
$
65,020
7,962
6,004,000
1,063,162
-
$
533,424
1,040,260
6,000,000
1,063,162
-
Total Liabilities
Equity
7,810,129
9,916,643
7,140,144
8,636,846
59,427,128
42,523,452
36,488,535
47,280,671
Total Liabilities and Equity
$
67,237,257
$
52,440,095
$
43,628,679
$
55,917,517
Total Revenues
Total Expenditures
Transfers From Other Funds
Transfers To Other Funds
Advances from City of Signal Hill
Proceeds-Debt Issuance, Net Discount
Transfer property (to)/from City
Transfer to Housing Authority
Net change in equity
Beginning Equity
Ending Equity
$
$
$
6,424,695
(13,140,760)
908,580
(908,580)
681,148
(6,034,917)
42,523,452
36,488,535
$
$
14,482,582
(26,289,643)
2,304,561
(2,304,561)
1,149,167
9,503,105
(11,739,678)
(4,009,209)
(16,903,676)
59,427,128
42,523,452
$
$
15,151,496
(19,586,890)
2,121,913
(2,121,913)
1,118,334
20,426,669
17,109,609
42,317,519
59,427,128
$
6,324,335
(6,141,821)
18,417
11,739,678
(1,148,473)
10,792,136
36,488,535
47,280,671
$
2,073,146
$
2,123,220
$
2,030,492
$
1,964,126
$
105,232,270
$
109,383,124
$
105,628,508
$
105,427,244
Other Information (show year end
balances for all three years presented):
Deferred charges as of end of year
Long-term debt as of end of year
(a) Agreed amounts to State Controller's Report and audited financial statements.
(b) Agreed amounts to audited financial statements.
(c) Agreed amounts to accounting records.
SCHEDULE 4
LISTING OF ASSETS
As of June 30, 2012
Total
as of
June 30, 2012
ASSETS
Cash and investments with fiscal agent
Accounts receivable
Interest receivable
SUBTOTAL ASSETS (MODIFIED ACCRUAL)
Deferred charges on long-term debt
TOTAL ASSETS
$
1,626,817
9,170,900
17,125,161
4,384
44,952
24,494,592
52,466,806
1,964,126
$ 54,430,932
SCHEDULE 5
UNSPENT BOND PROCEEDS
JUNE 30, 2012
Par Amount of Bonds
Less: Original Issue Discount
Less: Underwriter's Discount
Add: Transfer from Refunded
Bonds Funds and Accounts
Bond Proceeds
Per Bond Transcripts
Less: Deposit to Cost of Issuance Fund
Less: Deposit to Reserve Fund
Less: Deposit to Refunding Bond Escrow
Net Bond Funds
Less: Project cost drawdowns, net int. inc.
Remaining Project Funds
Reserve Funds
Total Unspent Bond Proceeds
2009 Tax
Allocation Parity
Bonds
$
20,655,000
(228,331)
(123,930)
$
2011 Tax
Allocation Parity
Bonds
$
8,835,000
(181,895)
(66,262)
$
Totals
29,490,000
(410,226)
(190,192)
20,302,739
8,586,843
28,889,582
(237,239)
(2,065,500)
18,000,000
(8,829,100)
9,170,900
2,090,555
11,261,455
(145,000)
(883,500)
7,558,343
14,328
7,572,671
883,589
8,456,260
(382,239)
(2,949,000)
25,558,343
(8,814,772)
16,743,571
2,974,144
19,717,715
$
$
SCHEDULE 6
LISTING OF NONLIQUID ASSETS
As of June 30, 2012
Basis for
Determining
Value
ASSETS
Fair market value change in cash and investments
Deferred charges (issuance costs) related long-term debt
Fair Market Value
Cost
Net Book Value (A)
Balance at
June 30, 2012
$
6,048
24,494,592
1,964,126
$ 26,464,766
NOTE:
(A) Net Book Value equals actual costs less accumulated amortization.
SCHEDULE 7
LISTING OF CASH BALANCES FOR RETENTION TO MEET ENFORCEABLE OBLIGATIONS
IN FISCAL YEAR 2012-2013 (ROPS 1)
June 30, 2012
Vendor/Payee
Purpose of Transactions
Amount
$
328,035
Enforceable Obligation/Other Legal
Requirement Supporting Retention
Various
SB 211 Pass-through payments
Reported on ROPS 1, Page 1,
Lines 10-20
LBSH Parcel I LLC
Tax sharing subsidy
1,040,260
Mitchell Land and
Improvement
Financial assistance
3,042
Reported on ROPS 1, Page 2, Line 2
Signal Hill Auto Center
Sign lease and maintenance
9,305
MWH Americas, inc.
Recycled water facilities
7,125
$ 1,387,767
These enforceable obligations were reported on ROPS 1 and have been incurred but not paid as of June 30, 2012.
Payments of these obligations are scheduled after June 30, 2012. These enforceable obligations were not listed on the
approved ROPS for the periods July 1, 2012 to December 31, 2012 (ROPS 2) and January 1, 2013 to June 30, 2013
(ROPS 3). Therefore Successor Agency believes that $1,387,767 of existing asset balances needs to be retained to
satisfy these enforceable obligations.
SCHEDULE 8
LISTING OF CASH BALANCES FOR RETENTION TO MEET
ENFORCEABLE OBLIGATIONS IN FISCAL YEAR 2012-2013
Payee
Amount
$
366,232
Enforceable Obligation/
Other Legal Requirement
Supporting Retention
US Bank National Assn.
Scheduled Debt Service Payment
1,386,765
198,753
Bond Documents; 2003 TAPBs, Series C
Reported on ROPS 2, page 1, line 3
338,872
Bond Documents; 2006 TTAPBs, Series A
182,468
Bond Documents; 2007 TARPBs, Series A
746,675
Bond Documents; 2009 TAPBs
437,153
Bond Documents; 2011 TAPBs
Trustee Fees
15,000
Bond Documents
Harrelll & Company Advisory
EOPS ROPS Consulting/
Continuing Disclosure
2,300
HdL Companies
Property Tax Audit / Information
Bonds
3,500
Aleshire & Wynder
Legal Counsel Services - Successor Agcy
30,000
Diehl, Evans & Co/LSL
Audit Services
10,000
Alma Walker Trust
50,200
Promissory Note - Dated 12/16/10
Price Charitable Trust
300,000
Promissory Note - Dated 12/10/92
LBSH Parcel LLC
Tax Sharing
Delius Restaurant LLC
Financial Assistance
Signal Hill Auto Center Assn.
Auto Center Sign Lease and Maintenance
9,400
Letter Agreement Dated 5/27/09
Tunnel Productions
Documentary on RDA History
9,552
City of Signal Hill
Cash Shortfall - RPTTF Jan 13-June 1, 2013
1,500,000
49,998
$
297,965
Bond Documents; 2001 TABs
Bond Documents; 2003 TAPRBs, Series A
Owner Participation Agreement Dated 3/16/11
Owner Participation Agreement Dated 2/2/10
1 of 3
SCHEDULE 8
Payee
Amount
Mearns Consulting
Property Disposition Costs:
700 Spring St. / Anastasi Property
45,000
Albus and Keefe, Inc.
EQ Survey 700 Spring St. / Anastasi Property
103,329
Flavell, Tennenbaum & Edwards/
Laurain
Appraisal Costs 700 Spring St. / Anastasi Property
30,000
Lawyer's Title
Title Costs 700 Spring St. / Anastasi Property
8,650
Lopez General Engineering Contractor
Maintenance / Weed Abatement 700 Spring St. / Anastasi Property
15,000
City of Signal Hill
Staff Salaries and Benefits 700 Spring St. / Anastasi Property
3,300
Aleshire and Wynder, LLP
Legal Counsel 700 Spring St. / Anastasi Property
13,500
Laurain
Appraisal Costs - Sullivan Property
6,500
Lawyer's Title Company
Title Costs - Sullivan Property
325
Albus Keefe & Associates
EQ Survey - Follow Up - Sullivan Property
City of Signal Hill
29,414
Staff Salaries and Benefits Sullivan Property
1,650
Aleshire and Wynder LLP
Legal Counsel - Sullivan Property
6,750
Flavell, Tennenbaum & Edwards
Appraisal Costs - 3100 California
5,000
Title Costs - 3100 California
225
City of Signal Hill
Staff Salaries and Benefits 3100 California
825
Legal Counsel - 3100 California
3,375
Laurain
Appraisal Costs - Palmer, et al
14,500
Title Costs - Palmer, et al
675
Lopez General Engineering Contractors
Maintenance / Weed Abatement Palmer, et al
5,000
Palmer / Giant Grinder
Security Deposit - Palmer, et al
5,000
$
2 of 3
SCHEDULE 8
Payee
Amount
Lund
3,363
Walker
3,398
City of Signal Hill
Staff Salaries and Benefits Palmer, et al
1,650
Legal Counsel - Palmer, et al
6,750
Laurain
Appraisal Costs - 859 Patterson/Boatyard
4,000
Title Costs - 859 Patterson/Boatyard
225
City of Signal Hill
Staff Salaries and Benefits 859 Patterson/Boatyard
825
Legal Counsel - 859 Patterson/Boatyard
3,375
37,650
6,250
John Hunter and Associates, Flow
Catch basin insert cleaning/inspection
Science, Richard Montevideo & Assoc. Cherry Ave / W - LA River Trash TMDL
Richards Watson & Gershon
Legal Counsel - AB 939; NPDES Issues
MWH Americas
Recycled Water Facilities
60,000
Aleshire & Wynder
Legal Services - Project Related
72,000
Susan Mearns
Hazardous Materials Consultant
30,000
City of Signal Hill
Administrative Cost Allowance Staff Salaries and Benefits
180,000
City of Signal Hill
Administrative Cost Allowance Materials and Supplies
15,000
City of Signal Hill
Administrative Cost Allowance Compensated Absences
2,943
City of Signal Hill
Cash Shortfall - Admin Allowance
Jan 13 - June 1, 2013
191,700
Cash flow Deficit
$ 6,851,980
3 of 3
SCHEDULE 9
SUMMARY OF BALANCE AVAILABLE FOR ALLOCATION TO AFFECTED TAXING AGENCIES
As of June 30, 2012
Total amount of assets held by the Successor Agency as of June 30, 2012 - (Procedure 5)
$ 54,430,932
Less assets legally restricted for uses specified by debt covenants, grant restrictions,
or restrictions imposed by other governments - (Procedure 6)
(21,217,715)
Less assets that are not cash or cash equivalents (e.g., physical assets) - (Procedure 7)
(26,464,766)
Less balances that are legally restricted for the funding of an enforceable obligation
(net of projected annual revenues available to fund those obligations) - (Procedure 8)
(1,387,767)
Less balances needed to satisfy ROPS for the 2012-13 fiscal year - (Procedure 9)
(6,851,980)
Less the amount of payments made on July 12, 2012 to the County Auditor-Controller
as directed by the California Department of Finance
-
Add the amount of any assets transferred to the City for which an enforceable
obligation with a third party requiring such transfer and obligating the use of
the transferred assets did not exist - (Procedures 2 and 3)
Amount to be remitted to County for disbursement to affected taxing agencies
1,500,000
$
8,704
EXHIBIT 1
RESOLUTION NO. 2011-03-455
DATED MARCH 4, 2011 PROPERTY TRANSFER
RESOLUTION NO. 2011-03-455
A
RESOLUTION
OF
THE
SIGNAL
HILL
REDEVELOPMENT AGENCY APPROVING A TRANSFER
AGREEMENT FOR THE TRANSFER OF CERTAIN
PROPERTIES OWNED BY THE AGENCY TO THE CITY
OF SIGNAL HILL FOR USE FOR PUBLIC PURPOSES
AND FOR CITY TO CARRY OUT REDEVELOPMENT
ACTIVITIES,
PURSUANT TO
THE
CALIFORNIA
REDEVELOPMENT LAW
WHEREAS, the City Council of the City of Signal Hill {the "City Council")
adopted Redevelopment Project No. 1 (the
~~Project
Area") on July 16, 1974, pursuant to
Ordinance No. 74-7-729, which resulted in the allocation of taxes from the Project Area to
the Signal Hill Redevelopment Agency (the "Agency") for purposes of redevelopment; and
WHEREAS, the intent of the Redevelopment Plan is, in part, to provide for
the development and redevelopment of blighted areas in the community; to promote the
general welfare of the people within the community by improving physical and economic
conditions through employment of all appropriate means; to perform specific actions
necessary to promote the redevelopment and the economic revitalization of the Project
Area; to provide for the construction and installation of necessary public infrastructure and ,
facilities and facilitate the repair, restoration, and/or replacement of existing public facilities;
to increase, improve and preserve the community's supply of low and moderate income
housing, some of which may be located or implemented outside the Project Area; and to
take all other necessary actions to implement the Redevelopment Plan for the Project Area
and to expend tax increment to accomplish the goals and objectives of the Redevelopment
Plan; and
WHEREAS, the Agency has adopted its Five-Year Implementation Plan for
the Project Area (the "Implementation Plan") with established goals to support affordable
housing, economic development, community revitalization, commercial revitalization, and·
I:
I
I
•
institutional revitalization, and to implement the programs and activities associated with
these
goals~
the Agency has acquired real property within the Project Area to be
redeveloped; and
Resolution No. 2011-03-455
March 4, 2011
Page 1 of 5
WHEREAS, because the Project Area consists of 840 acres of active and
formerly active oil fields, which present difficult environmental issues including soil
contamination, improperly abandoned and leaking oil wells, abandoned pipelines, irregular
lot patterns, and which are a major contributing factor to the blighted areas in the
community, the Agency has during the course of its redevelopment activities acquired
properties listed in Exhibits ~~A/' "B," and "C" to remediate and redevelop for future
economic development projects and for the elimination of blight; and
VvHEREAS, Agency has acquired parceis or portions of parcels, inciuding a
former oiJfield site which has been undeveloped for over 70 yrs due to the division of the 4parcel, 4 acre site into some 7000 interests and the Agency's condemnation authority was
required to assemble the site, and properties acquired along Cherry avenue, the City•s
commercial center, all of which are necessary for street and road purposes; for pipelines,
easements and facilities for utilities and sewer and water works including reclaimed water;
for park, recreation and open space purposes; for public parking purposes; and for public
faciiities such as a police station; and said parcels have been acquired over time but have
not yet been transferred to the City, while some are still undergoing the acquisition
process; and
WHEREAS, because the existing 13,000 square foot Signal Hill Police
1
Station was constructed in the 1960 s for a department of 25 officers and support staff,
serving a City population of 4,600, and the appointment of a Citizens Blue Ribbon
Committee in 2004 studied the need for remodeling or constructing a new station and
found that, since the City's population had grown to 9,800 and the police department had
grown to 54 officers and support staff, the City took the recommendation of the Committee
to construct a new 21,500 square foot station and selected a 4 ...acre site located 2745
Walnut Avenue, which was previously divided into 7,000 oil development shares and had
taken the Agency's powers of condemnation to assemble over a two-year period, and
which the Agency authorized a $20 million bond issue to purchase the land, complete
construction plans, and the construct the facility; and
Resolution No. 2011-03455
March 4, 2011
Page 2 of 5
WHEREAS,
the Agency embarked on the redevelopment of the Spring
Street Corridor in 1989 with the adoption of the Auto Center Specific Plan and the
development of Long Beach BMW on eight acres at the southeast corner of Cherry
\
Avenue and Spring Street that same year, leading to the success in establishing the BMW
dealership soon led to the relocation of several Long Beach auto deaferships to Signal Hill,
including Glenn E. Thomas Dodge, Long Beach GMC/Pontiac/Buick (now Boulevard of
Cars [GMC/Pontiac/Buick]), Long Beach Nissan (now Schaier's Auto Center (Nissan),
Long Beach Honda and more recently (2002) Long Beach Mercedes Benz, and the
Agency is currently working on the construction of a Carmax dealership for an Agencyowned parcei (the 3-acre site) on Spring Street and has constructed the Auto Center's
landscaping and median improvements on Cherry Avenue and Spring Street, and now the
Agency needs to rehabilitate the Auto Center sign, and also develop auto storage parcels
to protect the long-term viability of the auto dealers in the recessions, two of whom had
business failures; and
WHEREAS, pursuant to Section 33220 of the California Community
Redevelopment Law, which is codified as Health and Safety Code Section 33000 et seq.
(the "CRL"), certain public bodies, including the City of Signal Hill ("City"), may aid and
cooperate in the planning, undertaking, construction, or operation of redevelopment
projects; and
WHEREAS, the Agency desires to transfer to the City, the Properties, along
with the responsibility of implementing the Redevelopment Plan and the Implementation
Plan to bring about the redevelopment of those Properties, as the City is familiar with the
environmental issues associated with the Properties and the goals of the CRL, the
Redevelopment Plan, and the Implementation Plan; the City has been intimately involved
with the development of the Signal Hill Auto Center and the Auto Center Specific Plan;
~he
City has land use authority within the City; the City administers the City Oil Field Code; and
the City desires to cooperate with the Agency and to carry out the redevelopment of the
Properties,
in
accordance with the objectives and
purposes of the
CRL, the
Redevelopment Plan, and the Implementation Plan; and
March 4, 2011
Page 3of5
mcc-------------------------------------~-------------'------
WHEREAS, the Agency and the City have prepared a Transfer Agreement
(the "Agreemenf') for the for the Agency to transfer to the City the Properties for the
following purposes: (i) the City shall retain each of the Properties listed in Exhibit "A" for
public use, in accordance with the City's authority as a duly organized municipal
corporation; (ii) the City shall convey each of the properties listed in Exhibit "8" within
ninety (90) days through disposition and development agreements for private development
by qualified developers experienced in development of environmentally constrained land;
(iii) the City shall have all the authority that the Agency has under the CRL to carry out the
redevelopment of these Properties; and (iv) the activities of the City hereunder shall be
undertaken, in accordance with the CRL, as the CRL is written as of the execution date of
the Agreement; and
WHEREAS, all other legal prerequisites to the adoption of this Resolution
have occurred.
NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF
SIGNAL
~ILL
DOES HEREBY RESOLVE, AS FOLLOWS:
Section 1.
The Agency hereby finds and determines that the foregoing
recitals are true and correct.
Section 2.
The Agency has received and heard all oral and written
objections to the proposed transfer of Properties from the Agency to the City as proposed
in the Agreement, and to other matters pertaining to this transaction, and all such oral and
written objections are hereby overruled.
Section 3.
The
Agency hereby approves the Transfer Agreement
transferring the Properties listed in Exhibits "A" and "8" of the Transfer Agreement, and
approves the transfer of such Properties pursuant to the terms thereof. The transfer is
subject to the following terms (see staff request).
Section 4.
The Executive Director may include the transfer of additional
parcels or portions of parcels thereof for street, utility, or other public purposes related to
the foregoing.
Section 5.
The Agency Executive Director, or designee, is hereby
authorized to execute the Agreement on behalf of the Agency, together with such nonsubstantive changes and amendments as may be approved by the Agency Executive
Director and Agency Counsel.
March 4; 2011
Page 4 of 5
Section 6.
The Agency Executive Director, or designee, is hereby
authorized. on behalf of the Agency, to sign all documents necessary and appropriate to
carry out and implement the Agreement, and to administer the Agency's obligations,
responsibilities and duties to be performed under the Agreement.
Section 7.
This Resolution shall take effect immediately upon its adoption.
PASSED, APPROVED and ADOPTED, this 4th day of March, 2011.
~~'~
TINA L. HANSEN
AGENCY CHAIR
CITY OF SIGNAL HILL
COUNTY OF LOS ANGELES
STATE OF CALIFORNIA
)
) ss.
)
I, REBECCA BURLESON, Agency Secretary of the Signal Hill
Redevelopment Agency, California, do hereby certify that the foregoing Resolution No.
2011-03-455 was duly adopted at a special meeting of the Signal Hill Redevelopment
Agency, California, on the 4th day of March 2011, by the following vote:
AYES:
CHAIR TINA L. HANSEN, VICE CHAIR MICHAEL NOLL,
MEMBERS LARRY FORESTER, ELLEN WARD
NOES:
NONE
ABSENT:
MEMBER WILSON
ABSTAIN:
NONE
~~
REBECCA BURLESON
AGENCY SECRETARY
March 4, 2011
Page 5 of 5
,.,...,.._,
(J,) POLICE STATION
Location
Lot Size
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;.
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lot Size
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From: GI-Generallndustrial
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SP-4 Auto Center Specific Plan
28TH
;o
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No. OPERATOR
WELL
DESIGNATION
0
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DATE LOCATION
STATUS ABON. SOURCE.
API NO.
1
2
Signal HiU PMtole um, Inc
C48
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C54
037·
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"Dy&' 4
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09921
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4
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oms
ldlt (P~mp Unit)
~
Hury S. Rothschild
"Ytmktt" 2
037·
09915
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07i0511i13
6
Yunker, Mo1ton & Dolley
"Assocl•tu•1
037·
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r
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1
037·
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8
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+
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NOTES:
1) The locations of welts illustrated on this map are approximate and based on historic
infOfmation supplied by the State Division of Oil & Gas. The actual locations for buried
wells would be detennined during excava~on and grading operations.
2j. The historic locations of oi! we!! sumps and above ground storage tanks are
approximate and based on historic aertal photograph$, lire insurance maps and city
reeords. Actual roeations would be detennined during Phase II environmental testing
and grading operations.
)>
Q
HUD
GPS
<
m
OILWEllS
z
c
Heads up digitized (from scanned. georeferenced mylar map)
Collected via Global Positioning System
m
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"ELLA" 1
1} The locations of wells illustrated on this map are approxim
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Site
Lot Size
Potential Use
NOTES:
1) The locations of wells Illustrated on this map are approximate and based ort historic
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wells would be determined during excava!lon and grading operations.
7.91 Acres
Auto Center
TaK Assessor Parcel#
72G7-006-027 to 046
7207-006-0551o 081
7207·007·001 to 046
POTEN.nAL AREA TO BE VACATED BY CITY
The historic locations of oil well sumps and above ground storagl! tanks arl!
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records. Actual locations would be determined during Phase II environmental testing
and grading ()peraUons.
II
AREA TO BE DEDICATED TO CITY
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Gilbflrt Louis
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1) The locations of wells illustrated on this map are approximate and based on historic
Information supplied by the State Division of Oil & Gas. The actual locations for buried
wells would be determined during e(cavation and grading operatlons.
859 PATTERSON STREE
2) The historic locations of oil well sumps and above ground storage tanks are
approximate and based on historic aerial photographs, fire Insurance maps and city
records. Actual locations would be determined during Phase il environmental testing
Location
8
Potential Use
APN
HUD
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up digitized (from scanned. georeferenced mylar map)
WELL
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Signal Syndicate No.4
DESIGNATION
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STATUS ABDN. SOURCE.
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PATTERSON
CONTRACTOR'S TRAILER
TELEPHONE POLES
EXHIBIT
ST.
EXHIBIT 2
REIMBURSEMENT AGREEMENT
DATED JANUARY 17, 2011
EXHIBIT 3
HELP LOAN AGREEMENT
DATED JULY 2, 2001
EXHIBIT 4
EXCERPTS FROM
DISPOSITION AND DEVELOPMENT AGREEMENT
DATED NOVEMBER 14, 2006
EXHIBIT 5
ATTORNEY LETTER
DATED DECEMBER 14, 2012
RELATED TO INSTATEMENT OF CITY/
RDA LOANS UPON FINDING OF COMPLETION
CITY OF SIGNAL HILL
OVERSIGHT BOARD
2175 Cherry Avenue Signal Hill, CA 90755-3799
January 10, 2013
AGENDA ITEM
TO:
HONORABLE CHAIR
AND MEMBERS OF THE OVERSIGHT BOARD
FROM:
CHARLIE HONEYCUTT
DEPUTY CITY MANAGER
SUBJECT:
SIGNAL HILL POLICE STATION AND EMERGENCY OPERATIONS CENTER
PROJECT TAKEOVER AGREEMENT
Summary:
The original contractor for the Signal Hill Police Station and Emergency Operations Center
Project has defaulted and their contract has been terminated. The City Council as Successor
Agency has approved a Takeover Agreement between the Successor Agency and Arch
Insurance Company. Arch Insurance Company is the Surety and is now responsible to
complete the construction of the new police facility.
Recommendation:
Approve the Takeover Agreement between the City Council as Successor Agency and Arch
Insurance Company.
Fiscal Impact:
Arch Insurance Company is now responsible to complete the Signal Hill Police Station and
Emergency Operations Center Project under the terms of the original contract. The balance
of the contract is estimated at $4.15 million. The project is funded through an $18 million Tax
Allocation Bond issued by the former Redevelopment Agency. To date the contract price is
$8.96 million. $6.72 million of the contract has been completed. $4.32 million has been paid
and $493,621 is being held in retention.
Takeover Agreement
January 10, 2013
Page 2
Background:
On September 21, 2010, the City awarded a contract to FTR International, Inc. to construct
the Signal Hill Police Station and Emergency Operations Center Project, No. 847. On
February 15, 2012, FTR International abandoned the construction site without explanation
and did not return. The City terminated the contract on March 19, 2012 due to failure to
perform the obligations of the contract. As required by the contract, FTR International was
required to provide Payment and Performance Bonds by a highly rated surety company to
protect the Agency against a situation such as contractor default. The bonds require that the
Surety complete the remaining work and obligations of the contract.
Analysis:
Arch Insurance Company is the Surety that issued the Payment and Performance Bonds and
is now serving as the general contractor responsible for the completion of the Police Station
project. Arch Insurance has hired Kemp Bros. Construction to complete the construction of
the Police Station and Emergency Operations Center. A Takeover Agreement has been
prepared that establishes the terms and conditions for the Surety to assume the responsibility
of the project. The Takeover Agreement includes the following:
•
Establishes the amount of the contract that has been paid, the unpaid balance of the
contract, and the amount of retention being held.
•
Establishes the amount of claims that have been filed against the former contractor,
FTR International, which the Surety will be responsible to resolve.
•
Requires the Surety to perform and complete the remaining work and obligations on
the project as identified in the contract documents.
•
Establishes April 1, 2012 as the date that liquidated damages began being assessed.
•
Establishes that payment for work performed shall be paid to Arch Insurance
Company.
The Successor Agency approved entering into the Agreement on November 6, 2012. If
approved by the Oversight Board, the Agreement must be sent to DOF, which will determine
within the five-day period thereafter whether or not it wishes to review the transfer. Assuming
no request for review is made within that period by DOF, the action becomes final. If DOF
requests review of the action, it has up to 40 days from the date of its request to approve the
oversight board action or return it to the oversight board for reconsideration. Thereafter, the
action may be relied upon by all persons as conclusive. Construction has been progressing
well. Under the current schedule, the new police station is scheduled to be operational in
January 2013.
Takeover Agreement
January 10, 2013
Page 3
Approved:
_________________________
Kenneth C. Farfsing
MINUTES OF A REGULAR MEETING
SIGNAL HILL OVERSIGHT BOARD
November 8, 2012
A Regular Meeting of the Signal Hill Oversight Board was held in the Council Chamber
of City Hall on November 8, 2012.
CALL TO ORDER – 6:04 p.m.
ROLL CALL
PRESENT:
CHAIR HAUBERT
VICE CHAIR NOLL
MEMBER GABEL
MEMBER WAROT
MEMBER WILLIAMSON
MEMBER YU
ABSENT:
MEMBER CHERNISS
PLEDGE OF ALLEGIANCE
Chair Haubert led the audience in the Pledge of Allegiance.
PUBLIC BUSINESS FROM THE FLOOR ON ITEMS NOT LISTED ON THE AGENDA
There was no public business from the floor.
CHIEF ADMINISTRATIVE OFFICER REPORTS
a. Housing Asset Transfer to Signal Hill Housing Authority
Chief Administrative Officer introduced the Redevelopment/Economic
Development Manager who presented the staff report.
The
Oversight
Board,
Chief
Administrative
Officer
and
Redevelopment/Economic Development Manager discussed changes to the
resolution.
November 8, 2012 Minutes of the Oversight Board
Page 1 of 5
It was moved by VICE CHAIR NOLL and seconded by MEMBER WAROT to
waive further reading and adopt Resolution No. 2012-11-03 directing the
Successor Agency to transfer housing assets pursuant to Health and Safety
Code Section 34176 to the Signal Hill Housing Authority as amended.
Chair Haubert read the title of Resolution No. 2012-11-03:
A Resolution of the Oversight Board of the City of Signal Hill, California,
directing the Successor Agency to transfer housing assets pursuant to Health
and Safety Code Section 34176 to the Signal Hill Housing Authority.
The following vote resulted:
AYES:
CHAIR HAUBERT
VICE CHAIR NOLL
MEMBER GABEL
MEMBER WAROT
MEMBER WILLIAMSON
MEMBER YU
NOES:
NONE
ABSENT:
MEMBER CHERNISS
ABSTAIN:
NONE
b. P & M Diesel Settlement
Chief Administrative Officer introduced the Redevelopment/Economic
Development Manager who presented the staff report.
Member Gabel asked about a line item on the third ROPS schedule.
Redevelopment/Economic Development Manager addressed the question.
It was moved by MEMBER GABEL and seconded by VICE CHAIR NOLL to
approve the Stipulation to Entry of Judgment in Signal Hill Redevelopment
Agency v. Walters, Los Angeles Superior Court Case No. BC 49662.
Page 2 of 5
AYES:
CHAIR HAUBERT
VICE CHAIR NOLL
MEMBER GABEL
MEMBER WAROT
MEMBER WILLIAMSON
MEMBER YU
NOES:
NONE
ABSENT:
MEMBER CHERNISS
ABSTAIN:
NONE
CONSENT CALENDAR
a. Minutes of the Following Meeting(s)
Special Meeting of the Oversight Board, October 4, 2012.
Regular Meeting of the Oversight Board, October 11, 2012.
Member Gabel asked for an amendment to the minutes of October 4, 2012.
It was moved by MEMBER GABEL and seconded by VICE CHAIR NOLL to
approve the minutes of October 4, 2012 as amended.
AYES:
CHAIR HAUBERT
VICE CHAIR NOLL
MEMBER GABEL
MEMBER WAROT
MEMBER WILLIAMSON
MEMBER YU
NOES:
NONE
ABSENT:
MEMBER CHERNISS
ABSTAIN:
NONE
It was moved by VICE CHAIR NOLL and seconded by MEMBER GABEL to
approve the minutes of October 11, 2012.
Page 3 of 5
AYES:
VICE CHAIR NOLL
MEMBER GABEL
MEMBER WILLIAMSON
MEMBER YU
NOES:
NONE
ABSENT:
MEMBER CHERNISS
ABSTAIN:
CHAIR HAUBERT
MEMBER WAROT
OVERSIGHT BOARD – NEW BUSINESS
There was no Board new business.
ADJOURNMENT
It was moved by VICE CHAIR NOLL and seconded by MEMBER WAROT
to adjourn tonight’s meeting to the next regular meeting to be held on Thursday,
December 13, 2012 at 6:00 p.m. in the Council Chamber of City Hall, 2175
Cherry Avenue, Signal Hill, CA 90755.
AYES:
CHAIR HAUBERT
VICE CHAIR NOLL
MEMBER CHERNISS
MEMBER GABEL
MEMBER WAROT
MEMBER WILLIAMSON
MEMBER YU
NOES:
NONE
ABSENT:
MEMBER CHERNISS
ABSTAIN:
NONE
CHAIR HAUBERT adjourned the meeting at 6:22 p.m.
Page 4 of 5
DOUGLAS P. HAUBERT
Chair
Attest:
___________________________
Kenneth C. Farfsing
Chief Administrative Officer,
Board Secretary
Page 5 of 5

January 10, 2013

Transcription

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