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HomeMy WebLinkAbout2007/01/11 CVRC Agenda Packet . .. CORPORATION CHULA VISTA REGULAR MEETING OF THE CHUlA VISTA REDEVElOPMENT CORPORATION (CVRC), AND REDEVElOPMENT AGENCY Thursday, January 11, 2007, 6:00 p.m. COUNCil CHAMBERS 276 FOURTH AVENUE CHULA VISTA, CA 91910 CAll TO ORDER CVRC ROll CAll Directors Castaneda, Desrochers, Lewis, McCann, Paul, Ramirez, Rindone, Rooney and Chair Cox REDEVElOPMENT AGENCY ROll CAll Agency Members Castaneda, McCann, Ramirez, Rindone, and Chair Cox PLEDGE OF AllEGIANCE, MOMENT OF SilENCE 1. APPROVAL OF MINUTES Staff Recommendation: a. That the Redevelopment Agency approve the minutes of November 16, 2006. b. That the CVRC and Redevelopment Agency approve the minutes of Oecember 14, 2006. 2. WRITTEN COMMUNICATIONS Memorandum from Rudy Ramirez requesting an excused absence from the CVRC and Redevelopment Agency meeting of January 11,2007. Staff recommendation: That the CVRC and Redevelopment Agency excuse the absence. PUBLIC HEARINGS The following item(s) have been advertised as public hearings as required by law. If you wish to speak on any item, please fill out a "Request to Speak" form (available in the lobby) and submit it to the Clerk prior to the meeting. 3. CONSIDERATION OF ADOPTION OF A RESOLUTION AUTHORIZING THE COMMUNITY DEVELOPMENT DIRECTOR TO EXECUTE A PURCHASE CONTRACT AND RELATED DOCUMENTS FOR SPACE 2 AT ORANGE TREE MOBllEHOME PARK The Redevelopment Agency assisted residents with the purchase of the Orange Tree Mobilehome Park in 1987. Currently, six spaces remain in Agency ownership. It was the Agency's intent to sell the spaces to current or incoming tenants when in a position to purchase. The Agency has received an offer for $47,000 to purchase Space 2. (Continued from the meeting of December 14, 2006) Staff Recommendation: a. That the CVRC adopt the following resolution: RESOLUTION OF THE CHULA VISTA REDEVELOPMENT CORPORATION OF THE CITY OF CHULA VISTA RECOMMENDING THAT THE REDEVELOPMENT AGENCY AUTHORIZE THE COMMUNITY DEVELOPMENT DIRECTOR TO EXECUTE A PURCHASE CONTRACT AND RELATED DOCUMENTS FOR SPACE 2 AT ORANGE TREE MOBllEHOME PARK b. That the Redevelopment Agency adopt the following resolution: RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA AUTHORIZING THE COMMUNITY DEVELOPMENT DIRECTOR TO EXECUTE A PURCHASE CONTRACT AND RELATED DOCUMENTS FOR SPACE 2 AT ORANGE TREE MOBllEHOME PARK PUBLIC COMMENTS Persons speaking during Public Comments may address the CVRC and/or RDA on any subiect matter within the CVRC and/or RDA's jurisdiction that is not listed as an item on the agenda. State law generally prohibits the CVRC and/or RDA from taking action on any issue not included on the agenda, but, if appropriate, the CVRC and/or RDA may schedule the topic for future discussion or refer the matter to staff. Comments are limited to three minutes. ACTION ITEMS 4. CONSIDERATION OF REDEVELOPMENT YEAR-END REPORTS FOR FY 2005- 2006 Page 2 of 3 CVRC/RDA - Agenda - 01/11/07 The Chula Vista Redevelopment Agency is required to prepare an Annual Report for consideration by its board. California State Health and Safety Code Section 33080.1 requires the report to include the following elements: (1) an independent financial audit report and opinion regarding the Agency's compliance with applicable regulations; (2) the Report of Financial Transactions of Community Redevelopment Agencies (State Controller's Report); and (3) the State Department of Housing and Community Development Schedules A-E. These reports provide detailed information regarding the activities of the Redevelopment Agency. Staff Recommendation: That the CVRC and Redevelopment Agency accept the Redevelopment Year-End Reports for FY 2005-2006. 5. CHIEF EXECUTIVE OFFICER'S REPORTS a. CVRC Web Site Update - Interactive Map b. Downtown Parking Management Study Update c. California Redevelopment Association 2007 Annual Conference & EXPO 6. CHAIRMAN'S REPORTS 7. DIRECTORS' COMMENTS ADJOURNMENT The Redevelopment Agency will adjourn to an adjourned regular meeting on January 16, 2007, immediately following the 6:00 p.m. Regular Meeting of the Chula Vista City Council. The Chula Vista Redevelopment Corporation will adjourn to their regularly scheduled meeting on January 25, 2007, at 6:00 p.m. In compliance with the AMERICANS WITH DISABILITIES ACT The Chula Vista Redevelopment Corporation requests individuals who require special accommodations to access, attend, and/or participate in a eVRe meeting, activity, or service request such accommodation at least forty-eight hours in advance for meetings and five days for scheduled services and activities. Please contact the Community Development Department for specific information at (619) 691-5047, or Telecommunications Devices for the Deaf (TOO) at (619) 585- 5655. California Relay Service is also available for the hearing impaired. Page 3 of 3 CVRC - Agenda - 01/11107 DRAFT MINUTES OF ADJOURNED REGULAR MEETINGS OF THE CHULA VISTA REDEVELOPMENT CORPORATION (CYRC), REDEVELOPMENT AGENCY AND CITY COUNCIL OF THE CITY OF CHULA VISTA November 16,2006 6:00 P.M. Adjourned Regular Meetings of the Chula Vista Redevelopment Corporation, Redevelopment Agency and City Council of the City of Chula Vista were called to order at 6:08 p.m. in the Council Chambers, located in City Hall, 276 Fourth Avenue, Chula Vista, California. CYRC ROLL CALL PRESENT: Directors: Castaneda, Desrochers, Lewis, Paul, Rindone (arrived at 6:12 p.m.), Rooney, and Vice Chairman McCann ABSENT: Directors: Chavez (excused), Paul (excused), Chairman Padilla (excused) REDEVELOPMENT AGENCY ROLL CALL PRESENT: Agency Members: Castaneda, Rindone (arrived at 6:12 p.m.), and Vice Chairman McCann ABSENT: Agency Members: Chavez (excused), Chairman Padilla (excused) CITY COUNCIL ROLL CALL: PRESENT: Council Members: Castaneda, Rindone (arrived at 6:12 p.m.), and Deputy Mayor McCann ABSENT: Council Members: Chavez (excUsed), Mayor Padilla (excused) ALSO PRESENT: Interim Executive Director/City Manager Thomson, Deputy General CounseV Deputy City Attorney Shirey, Chief Financial OfficerlFinance Director Kachadoorian, Acting Community Development Director Hix, Redevelopment Project Manager Crockett, Planning Manager Ladiana, Senior Community Development Specialist Tapia, Community Development Specialist Alvarez, Senior Deputy City Clerk Peoples, Community Development Administrative Assistant Donnelly PLEDGE OF ALLEGIANCE, MOMENT OF SILENCE Due to the lack of a quorum for the Redevelopment Agency and City Council, Vice Chairman McCann requested Items 1 and 2 be trailed, and Item 3 be heard at this time. 1a -1 DRAFT Items 1 and 2 were heard after Item 3. 1. AFPROV AL OF MINUTES Staff Recommendation: 1.a. That the CVRC and Redevelopment Agency approve the minutes of October 26, 2006. ACTION: Vice Chairman McCann moved approval of the CVRC/Redevelopment Agency minutes of October 26, 2006. Director/Agency member Castaneda seconded the motion and it carried 6-0, with Director Paul, Director/Agency member Chavez and Chairman Padilla absent. 1.b. That the Redevelopment Agency approve the minutes of October 24, 2006, and November 7, 2006. ACTION: Vice Chairman McCann moved approval of the Redevelopment Agency minutes of October 26, 2006, and November 7, 2006. Agency member Castaneda seconded the motion and it carried 3-0, with Agency member Chavez and Chairman Padilla absent. 2. WRITTEN COMMUNICATIONS 2.a. Memorandum from Stephen C. Padilla requesting an excused absence from the Joint CVRC/Redevelopment Agency/City Council meeting of November 16, 2006. 2.b. Memorandum from Patricia E. Chavez requesting an excused absence from the Joint CVRC/Redevelopment Agency/City Council meeting of November 16, 2006. Staff recommendation: That the CVRC/Redevelopment Agency/City Council excuse the absences. ACTION: Director/ Agency/Councilmember Rindone moved approval of the requests for excused absences. Director/ Agency/Councilmember Castaneda seconded the motion and it carried 6-0, with Director Paul, Director/Agency/Councilmember Chavez and ChairmanlMayor Padilla absent. Page 2 - CVRC/RDAlCC Minutes htto:!/www.chulavistaca.gov 1a - 2 November 16,2006 DRAFT Item 3 was heard prior to Items I and 2. PUBLIC HEARINGS 3. CONSIDERATION OF A MIXED USE PROJECT WITH 167 MULTI-FAMILY RESIDENTIAL UNITS AND 3,793 SQUARE FEET OF COMMERCIAL SPACE ON THE SITE AT 914-944 THIRD AVENUE WITHIN THE :MERGED CHULA VISTA REDEVELOP:MENT PROJECT (ADDED AREA) Development of this site will provide high-density mixed-use housing located close to existing transit, and within a block of neighborhood-serving retail and office uses.. The proposal requires the re-zoning of a 3.6-acre portion of the site and the establishment of a Precise Plan Modifying Standard for a front setback reduction from 25 feet to 20 feet. In addition, the proposal requires the issuance of a Conditional Use Permit for the mixed use, Design Review and Tentative Map Conditions for the consolidation of four lots into one lot. Notice of the hearing was given in accordance with legal requirements, and the hearing was held on the date and at the time specified in the notice. Project Manager Crockett provided an introduction of the proposed Creekside Vistas project, including the effort behind the proposed project development and the public benefits of a great housing project, including new revenues to schools and the City, and increased affordable housing units in western Chula Vista. Planning Manager Ladiana provided an overview of the project details, noting that it would be the first suburban infill redevelopment project since adoption of the General Plan in December of 2005. Senior Community Development Specialist Tapia provided an overview of the project site and surrounding uses, topography, land use designations, other discretionary actions and conditions of the project, and highlights of the residential units, commercial space, parking and open space. Terry Plowden, representative of project applicant, Douglas Wilson Companies, spoke in support of the project and outlined some of the highlights, including the project being an opportunity for infill redevelopment; its location adjacent to a transit stop and proximity to neighborhood serving retail and office uses. He then detailed the process his firm had taken to this point to gain support from the community which included extensive community meetings held with the hospital, country club, church and auto parts store as well as with the Northwestern Civic Group, Crossroads II, HEAC and the Chamber of Commerce Economic Development and Building Committees. Mr. Plowden stated he felt the project was well received as they were proposing to improve a property that was underutilized and in some ways blighted; developing it in a manner consistent with the General Plan; providing 10% affordable housing consisting of 2 and 3 bedroom units, and would also be preserving the Telegraph Canyon Creek. Page 3 - CVRC/RDAlCC Minutes htto://www.chulavistaca.gov la - 3 November 16,2006 DRAFT Bryan Sevy, Project Architect, provided an overview of the design solutions for the project goals which were to create building architecture for the site layout, preservation of the riparian and sensitive habitat, and the creation of a more vibrant mixed-use street scene with an urban feel along 3rd Avenue to allow for walkability. To accomplish these goals, they designed the buildings with a strong fayade with homes facing onto 3rd A venue to provide a safety feature, the retail spaces are located along 3rd Avenue at the northeast comer adjacent to the other commercial uses where it can be used by the residents and others of the community. The parking is provided almost entirely in a subterrarean garage under the main building which allows more space for homes and open-space. The garage has controlled access with separate areas for residential and commercial. The project is made up of a blended density of 30 units per acre with a variety of housing types, including lower density townhomes in the southwest edge, and a larger building with underground parking to efficiently utilize the site. The larger building has single-level and multi-level homes with 2-,3- and 4-bedroom townhomes with 14 different floor plans. All homes have a private balcony or patio. There are two main courtyard spaces above the parking and a common amenity area with a tot lot and pool and the open space, riparian area with a trail system along the banlc The architecture is a mix of modem and Spanish architecture, with arches in classic Irving Gill style. Director/Councilmember Castaneda inquired about the width of the sidewalks with the street trees, expressing concerns of impeding the free flow of pedestrians. Mr. Plowden responded that the sidewalks were 10 feet wide with a wall between the sidewalk and building entryways to separate the pedestrians from the residential traffic, adding that the developer will be maintaining the street trees. Director Rooney stated that be was encouraged by the quality of the project, would like to see more retail if possible, and encouraged the use of vines to cover the front walls to break up the fayade. He further noted that the choice of plant materials for this project was very important, as was the relief in the fayade provided by the arches, balconies, and planters. Director/Councilmember Rindone inquired and Mr. Plowden responded that the allocated commercial space was approximately 4,000 square feet which could equate to four tenants at 1,000 feet each, with uses authorized by the zoning code of perhaps a coffee shop and deli. Further, that the trees being considered for use in the project are from the City approved list and will include Oaks, Alders and Sycamores back by the creek, and ornamentals such as Jacarandas or a Brisbane Box in the courtyards. Director Rindone then inquired of staff, as to whether anything was being done regarding the landscaping across the street, and how staff was going to address it, although it is nota condition of this project. Ms. Ladiana responded that staff could be directed to continue pursuing action with the applicant. Director Lewis expressed concerns with the need for protection of the site between the parking and hospital site. Mr. Plowden responded that, in addition to the trees, there would be a wall or fence along the boundary. Director Lewis then inquired about the traffic control from 3rd Avenue into the commercial entry in terms of a left turn lane, and requested staff review the left turn into the proj ect. Page 4 - CVRCIRDA/CC Minutes htto://www.chulavistaca.gov la - 4 November 16, 2006 DRAFT Director Desrochers inquired regarding the width of the sidewalk in front of the commercial space and Mr. Sevy responded that there was 20 feet from the storefront to the sidewalk. In addition, he responded to questions pertaining to the access to the recreation area for residents living on the north end of the project in the Podium building, stating it would be via elevator and a short walk from the building. Mr. Plowden responded to questions regarding landscaping noting that native plant material would be planted up to the creek and the natural habitat area would be protected possibly fencing, but that children could play along the area between the building and the property lines, in the children's play area, and in the courtyards. Director Rooney inquired as to whether the proposed pathway could go through to "L" Street. Mr. Plowden responded that due to the steepness of the area and the culvert, for safety reasons, the area would probably be secured and the pathway would not go through. Director Rooney stated he hoped on future projects that pathways would be designed to go somewhere, and then confirmed that the affordable housing units would be 2- and 3-bedroom units, identical to the market rate units, and would be located throughout the Podium building. Vice ChairmanJDeputy Mayor McCann opened the public hearing. Patricia Aguilar, representing Crossroads II, spoke in support of the project, stating that the applicant had met with them and had either met or exceeded their requests. She then spoke regarding a Planning Commission request on the project, that something be done about the condition of the property across the street from the project, provided and displayed photographs of the area, and encouraged the Council to direct staff to work with the applicant to give something back to the community by improving this area. Vice ChairmanJDeputy Mayor McCann explained for the record, that although the property Ms. Aguilar had spoken about was not directly connected with this project, the applicant, Douglas Wilson Companies, had looked at the best interests for the community and contacted the Country . Club and proposed that the Douglas Wilson companies would come up with a landscaping plan and along with the Country Club and the City, each pay 1/3 of the costs involved in cleaning up and landscaping of the property. Mr. Plowden verbally confirmed their commitment and stated that a confirmation letter had previously been submitted to City staff. Vice ChairmanJDeputy Mayor McCann asked staff to take this as a direction, and inquired and Redevelopment Project Manager Crockett responded, that although this project was not in the redevelopment proj ect area, fIndings could be made that would allow for tax increment funds to be used. Planning Manager Ladiana noted that the area being discussed was predominantly in private ownership with a very small sliver in City right-of-way. Director/Councilmember Rindone stated he did not feel welded to the 1/3, 1/3, 1/3, but would like to get it done and would prefer to see the Country Club pay at least 50% of the costs. Vice ChairmanJDeputy Mayor McCann requested staff continue to work with the Douglas Wilson Companies and set up a meeting with the Country Club to discuss this issue. Page 5 - CVRC/RDAlCC Minutes htto:llwww.chulavistaca.gov 1a - 5 November 16, 2006 DRAFT Kevin O'Neill stated he was pleased to see this project come forward and spoke in favor of it. He then inquired and staff responded that no redevelopment fund participation had been used, and the project was 100% developer financed. Mr. O'Neill then spoke regarding a project he had proposed two years ago and his perception that he did not get the cooperation, help or interest he had needed to proceed with his proposed project. Lisa Cohen, representing the Chula Vista Chamber of Co=erce, stated that their Economic Development Committee, as well as Board of Directors, had expressed full support of the proj ect. Ned Ardagna, inquired and staff confirmed, that the proposed walkway on the property along the creek had public access. Mr. Ardagna then stated that he objected to the noticing procedure as only those within 500 feet of the proposed proj ect were notified, yet those most affected, the current property owners and neighborhood residents, live outside of the 500 square feet area and were not notified. Additionally, this project is being called a walkable neighborhood, but there are no sidewalks, and cited Moss and Naples Streets as examples having piecemeal sidewalks. Vice ChairmanJDeputy Mayor McCann responded to Mr. Ardagna's co=ents regarding the need for sidewalks, advising him that the City has started the Castle Park sidewalk program, and has received approval of a HUD 108 loan, which will provide additional funding for additional sidewalks. With no further members of the public wishing to speak, Vice ChairmanJDeputy Mayor McCann closed the public hearing. Director/Councilmember Rindone expressed his pleasure with the quality of the proposal and the participation of the independent directors. ACTION: Director Rindone moved approval of staffs reco=endation on Item 3.a., read the heading, waive the text. Director Castaneda seconded the motion for discussion: Director Castaneda then expressed agreement with those speaking in support of the project. He then expressed concerns with the ushering in of a new project in southwest Chula Vista with no Specific Plan in place. Vice ChairmanJDeputy Mayor McCann stated he really liked the project and the fact that it had no public subsidy and an affordable housing component. Further, in speaking about sidewalks and amenities, the tax increment over the life of this proj ect will be $21 million that can be used for those purposes. He then thanked the Douglas Wilson Companies :ror taking the initiative on the property across the street, and that he was not sold on the idea that a specific plan would bring things forward to enhance the co=unity and create revitalization and investment. Vice ChairmanJDeputy Mayor McCann then publicly thanked and expressed accolades for staff and the efforts they put into this proj ect. Vice ChairmanJDeputy Mayor McCann then requested that Item 3 .a. be voted on first: Page 6 - CVRC/RDAlCC Minutes http://www.chulavistaca.!Zov la - 6 November 16,2006 DRAFT 3.a. That the CVRC adopt the following resolution: CYRC RESOLUTION NO. 2006-039, RESOLUTION OF THE CHULA VISTA REDEVELOPMENT CORPORATION RECOMMENDING THAT THE CITY COUNCIL (1) ADOPT MITIGATED NEGATIVE DECLARATION (IS-06-008); (2) INTRODUCE AN ORDINANCE ADOPTING REZONE PCZ- 06-04 FOR A 3.6-ACRE PORTION OF THE SITE FROM S90 COUNTYZONE TO CCP (CENTRAL COMMERCIAL PRECISE PLAN) ZONE ALONG WITH THE ESTABLISIDvfENT OF A PRECISE PLAN MODIFYING DISTRICT AND STANDARD; (3) APPROVE CONDITIONAL USE PERMIT (pCC-06-026); (4) APPROVE DESIGN REVIEW PERMIT (DRC-06-35); AND (5) APPROVE TENTATIVE MAP (pCS-06-06) TO ALLOW TIm CONSTRUCTION OF 167 MULTI-FAMIL Y UNITS AND 3,793 SQUARE FEET OF COMMERCIAL SPACE ON TIm SITE LOCATED AT 914-944 TIllRD AVENUE The motion carried 6-0, with Directors Chavez, Paul, and Chairman Padilla absent. ACTION: Councilmember Rindone moved approval of staffs recommendations on Items 3.b. and 3.c., read the headings, waive the texts, and place the ordinance on first reading: 3.b. That the City Council adopt the following resolution: RESOLUTION NO. 2006-337, RESOLUTION OF THE CITY COUNCIL OF TIm CITY OF CHULA VISTA (1) ADOPTING MITIGATED NEGATIVE DECLARATION (IS-06-008); (2) APPROVING A CONDITIONAL USE PERMIT (pCC-06-26); (3) APPROVING DESIGN REVIEW PERMIT (DRC-06-35); AND (4) APPROVING TENTATIVE MAP (pCS-06-06) TO ALLOW THE CONSTRUCTION OF 167 MULTI-FAMILY UNITS AND 3,793 SQUARE FEET OF CO:Mlv1ERCIAL SPACE ON THE SITE AT 914-944 TIllRD AVENUE 3.c. That the City Council place on fIrst reading the following ordinance: ORDINANCE OF THE CITY OF CHULA VISTA APPROVING A REZONE (pCZ-06-04) FROM S90 ZONE TO CENTRAL COMMERCIAL PRECISE PLAN (CC-P) ZONE AND ESTABLISHING A PRECISE PLAN MODIFYING STANDARD FOR A 3.6-ACRE PORTION OF A 5.S-ACRE SITE LOCATED AT 912-944 TIllRD AVENUE Page 7 - CVRC/RDAlCC Minutes htto://www.chulavistaca.gov 1a - 7 November 16,2006 DRAFT Councilmember Castaneda seconded the motion and it carried 3-0, with Councilmember Chavez and Mayor Padilla absent. Items 1 and 2 were heard at this time. Vice Chairman/Deputy Mayor McCann requested Item 4, Chief Executive Officer's Reports be heard at this time. PUBLIC COMMENTS Kevin O'Neill, spoke regarding two projects he has that cannot move forward because they are in the Urban Core area and detailed the steps he had taken with staff to advance them, and his request for the establishment of a pipeline policy. Mr. O'Neill then spoke regarding areas of the Urban Core Specific Plan that he felt were flawed and requested that he be given what he has by right under the existing zoning, and protect him with a pipeline policy, otherwise, the City has created a temporary taking. Acting Co=unity Development Director Hix, stated that a pipeline policy was being worked on to be brought forward as part of the Urban Core Specific Plan, and that the City Attorney's Office had also advised staff of their preference to ABCO, but that they were also aware that they could make other policy reco=endations and were working on potential language. Ms. Hix then noted" that a pipeline policy needed to be consistent citywide, not just within the Urban Core plan. She then asked Mr. O'Neill if he had submitted his project or was in process as typically a pipeline will address people who are somewhere along in the process. Mr. O'Neill stated he had not as it would not be prudent to move ahead at this point. Vice Chairman!Deputy Mayor McCann requested Attorney Shirey and Ms. Hix get together collectively with Mr. O'Neill and then update the CVRC on the pipeline policy and this particular issue, as the goal is to provide certainty to those who want to invest in Chula Vista Director Rindone made a referral to staff to have a report on pipeline options for the CVRC and City on the next agenda. Item 4 was heard prior to Public Co=ents 4. CHIEF EXECUTIVE OFFICER'S REPORTS Interim Chief Executive Director Thomson stated that although the CYRC usually meets on the fourth Thursday of the month, this one falls on Thanksgiving Day and therefore, rather than requesting a meeting, he wished all a Happy Thanksgiving. 5. CHAIRMAN'S REPORTS Vice Chairman McCann again thanked staff for their work on the previous project. He then requested staff continue to keep the meetings as scheduled on the second and fourth Thursdays of each month at 6:00 p.m. Page 8 - CYRC/RDA/CC Minutes htto:/lwww.chulavistaca.gov la - 8 November 16, 2006 DRAFT 6. DIRECTORS' CO~NTS Director Rindone stated that there will be times when business needs to be accelerated and a meeting will need to be moved, and staff needs flexibility. Vice Chainnan McCann stated he agreed with the need to have flexibility, but wants to stay on task. Director Rindone clarified it was not his intention to hurt any civic meeting, but that the business of the CVRC needs to be moving at a most judicial rate. He then stated he would be requesting a re-opening of the applicant-filing period for the position of City Manager and that it be extended to December 5, 2006. Director Desrochers noted for the record that Director Paul was not present, as he could not vote on the Creekside Vistas item, as his firm was involved in the project planning. He then expressed frustration and requested consistency with the meeting scheduling. Director Lewis stated that one of the reasons for the creation of the CVRC was due to the lack of a focused plan and concurred with Director Castaneda's on the need to get a specific plan and take control to become a fully active body. Director Castaneda stated that a specific plan looks at all kinds of things and tells people what the long-term, long-reaching vision of the City is. He then expressed concerns with why some people seem to get proj ects through and others cannot. ADJOURNMENT At 7:54 p.m., Deputy MayorNice Chainnan McCann adjourned the City Council to its regularly scheduled meeting on November 21, 2006, at 6:00 p.m., and the Chula Vista Redevelopment Corporation and Redevelopment Agency to their regularly scheduled meetings on December 14, 2006, at 6:00 p.m. Dana M. Smith, Secretary Page 9 - CVRC/RDNCC Minutes htto://www.chulavistaca.gov 1a - 9 November 16,2006 MINUTES OF A REGULAR MEETING OF THE CHULA VISTA REDEVELOPMENT CORPORATION (CVRe) AND REDEVELOPMENT AGENCY, AND AN ADJOURNED REGULAR MEETING OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA December 14,2006 6:00 P.M. A Regular Meeting of the Chula Vista Redevelopment Corporation, Redevelopment Agency and an Adjourned Regular Meeting of the City Council of the City of Chula Vista was called to order at 6:00 p.m. in the Council Chambers, located in City Hall, 276 Fourth Avenue, Chula Vista, California. CVRC ROLL CALL PRESENT: Directors: Castaneda (arrived at 6:03 p.m.), Desrochers, Lewis, McCann, Paul, Ramirez, Rindone (arrived at 6:44 p.m.), Rooney, and Chair Cox REDEVELOPMENT AGENCY ROLL CALL PRESENT: Agency Members: Castaneda (arrived at 6:03 p.m.), McCann, Ramirez, Rindone (arrived at 6:44 p.m.), and Chair Cox CITY COUNCIL ROLL CALL PRESENT: Councilmembers: Castaneda (arrived at 6:03 p.m.), McCann, Ramirez, Rindone (arrived at 6:44 p.m.), and Mayor Cox ALSO PRESENT: Interim Executive Director/City Manager Thomson, General Counsel/City Attorney Moore, Assistant Chief Financial Officer/Finance Director Davis, Secretary Smith, Acting Community Development Director Hix, Planning Manager Ladiana, Principal Community Development Specialist Lee, Senior Deputy City Clerk Peoples PLEDGE OF ALLEGIANCE, MOMENT OF SILENCE 1. APPROVAL OF MINUTES - November 16, 2006 Staff Recommendation: That the CVRC and Redevelopment Agency approve the minutes of November 16,2006. Chair Cox stated that due to the temporary absence of Vice Chair Rindone, and the need for her and Agency member Ramirez' abstentions, the approval of the November 16, 2006 Redevelopment Agency minutes would be tabled until the arrival of Vice Chair Rindone. 1b -1 APPROVAL OF MINUTES (continued) ACTION: Director McCann moved approval of the CVRC minutes of November 16,2006. Director Lewis seconded the motion and it carried 5-0, with Directors, Paul, Ramirez and Chair Cox abstaining, and Vice Chair Rindone absent. 2. WRlTTEN COMMUNICATIONS Memorandum from Director Doug Paul requesting an excused absence from the CVRC/Redevelopment Agency/City Council meeting of November 16, 2006. Staff Recommendation: That the CVRC/Redevelopment Agency/City Council excuse the absence. ACTION: Director/Agency member/Councilmember Castaneda moved to excuse the absence. Director/Agency member/Councilmember McCann seconded the motion and it carried 7-0, with Director Paul abstaining and Vice Chair/Deputy Mayor Rindone absent. RECESS At 6:06 p.m. Mayor/Chair Cox recessed the City Council and Redevelopment Agency, DEVELOPMENT PROJECT UPDATES Staff will present updates to the CVRC on any new development applications or proposals that have been received, are located within the City's Redevelopment Project Areas, and have been through the fIrst RAC review. These items are for information only and do not require any formal action by the Board of Directors. Acting Community Development Director Hix introduced the staff report stating that a proj ect update section had been added to this and all future agendas. She then introduced Planning Manager Ladiana who provided an update of the projects currently in the review process, and explained the application process for the projects. 3. PROJECTS/ APPLICA TIONS/PROPOSALS a. Vasquez Multi-Tenant Building, 144 - 27th Street b. Public, 354 Church Street c. Exterior Remodel, 357-369 Third Avenue d. Savon Storage, 3712 Main Street e. Douglas Wilson ENA Project, Davidson and Church West f. Social Security, 626 L Street (Social Security building) Page 2 - CVRC/RDA/CC Minutes lb - 2 .ca.gov December 14, 2006 PROJECTS/ APPLICA TIONSIPROPOSALS (continued) Chair Cox confirmed that the projects would go to the RAC for public review and interaction and once they come back with their redesigns will be forwarded on to the CVRC. She then inquired as to when the issue of removing parking for buildings would come back to the CYRC. Principal Community Development Specialist Lee responded that the parking study was an approximately four-month process and should be completed in late-March, early-April of 2007. Additionally, he stated that the purpose of the study was to look at both long-term management strategies as well as short-term management strategies such as the immediate parking needs if some of the lots were to be redeveloped. Director Desrochers expressed concerns with the sequence of how things were being processed and what the developers were being told. Principal Community Development Specialist Lee explained that all of the Exclusive Negotiating Agreement (ENA) developers were aware that the progress of their projects was dependant upon the passage of the Urban Core Specific Plan, were making a conscientious effort to make their own decisions about what they were willing to invest at this time, and were aware of the parking management studies. Mr. Lee also stated that each of the developers who have ENAs for parking lots understand the timing of the management study and how that will fit into overall negotiations. Additionally, he stated that the ENA's originally entered into were amended to be predicated upon the adoption of the Urban Core Specific Plan to allow for flexibility, and most are set to expire around March of2007. RECONVENE At 6:21 p.m., Mayor/Chair Cox reconvened the City Council and Redevelopment Agency with the Chula Vista Redevelopment Corporation. All members were present except for Vice ChairlDeputy Mayor Rindone. PUBLIC HEARINGS 4. CONSIDERATION OF THE 2006 AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE TOWN CENTRE I PROJECT AREA Director/Agency member Castaneda recused himself from participation on this item stating he had interest in a piece of property within the project area. Notice of the hearing was given in accordance with legal requirements, and the hearing was held on the date and at the time specified in the notice. Mayor Cox opened the public hearing. Principal Community Development Specialist Lee stated that staff is recommending a continuance of the public hearing because it involves items that are companion actions to the proposed Urban Core Specific Plan which are contingent upon the Urban Core's Environmental Impact Report, and need to move forward concurrent with or after the Urban Core Specific Plan. 1b- 3 Page 3 - CVRCIRDA Minutes http://www.chulavistaca.gov December 14, 2006 PUBLIC HEARINGS (continued) There being no members of the public who wished to speak, Mayor Cox closed the public hearing. ACTION: Director/Agency member McCann moved to continue the public hearing to a future date to be determined and directed staff to re-notice the hearing. Director Desrochers seconded the motion and it carried 7-0 with Director/Agency member Castaneda abstaining and DirectorNice Chair Rindone absent. 5. CONSIDERATION OF ADOPTION OF A RESOLUTION AUTHORIZING THE COMMUNITY DEVELOPMENT DIRECTOR TO EXECUTE A PURCHASE CONTRACT AND RELATED DOCUMENTS FOR SPACE 2 AT ORANGE TREE MOBILEHOME PARK Notice of the hearing was given in accordance with legal requirements, and the hearing was held on the date and at the time specified in the notice. Mayor Cox opened the public hearing. Acting Community Development Director Hix recommended the item be continued to January 11, 2007, as minor changes to the contract are required. There being no members of the public who wished to speak, Mayor Cox closed the public hearing. ACTION: Agency member McCann moved to continue the public hearing to January II, 2007. Agency member Ramirez seconded the motion and it carried 4-0, with Vice Chair Rindone absent. PUBLIC COMMENTS There were none. ACTION ITEMS 6. YEAR-END LEGISLATIVE REPORT ON 2006 REDEVELOPMENT BILLS Staff will provide a year-end report on 2006 legislation affecting the Redevelopment Agency. Tbis report is for informational purposes only and does not require formal action. Acting Community Development Director Hix introduced Principal Community Development Specialist Lee, who provided the report. Mr. Lee's report included a background of the United States Supreme Court case of Kelo v. City of New London, which resulted in the California statewide ballot measure pertaining to eminent domain known as Proposition 90. Although Proposition 90 failed in the November election, the Legislature passed eight separate bills that directly impacted the powers and procedural requirements of California's 386+ redevelopment agencies. Seven of the bills were signed and will become effective on January I, 2007. lb-4 Page 4 - CVRC/RDAlCC Minutes http://www.chulavistaca.gov December 14, 2006 ACTION ITEMS (continued) Mr. Lee highlighted Senate Bill 1206 (Kehoe) which drew the greatest amount of attention in Sacramento of the seven bills and carried the broadest number of sweeping changes to state redevelopment law, including multiple provisions tightening the definition of "blight." Redevelopment agencies must make fmdings of "blight" to include territory in a redevelopment project area where their redevelopment powers may be exercised. The expansion of redevelopment project areas is already arduous, timely, and costly today. SB 1206 would make it all the more arduous, timely, and costly, which has important ramifications for Chula Vista since the Agency's 2005-2009 Five Year Implementation Plan prioritizes the expansion of the City's project areas as a key redevelopment and housing objective during the next few years. Mr. Lee also emphasized the uncertainties of new laws in their implementation and that, as with any state law, would take time and new case law to determine how certain provisions and definitions should be applied and carried out in the future. Director Desrochers inquired as to how the local Chula Vista ordinance regarding eminent domain dovetails into the legislation that is taking effect. General Counsel Moore responded that the new Charter amendment created by Proposition C prohibits for the most part, condemnation for economic development purposes period. This is stricter than the State Constitution, and thus, any of the new legislation. General Counsel Moore stated that the legality of Proposition C's ability to supersede the State Constitution has not been analyzed and is not proposed to be analyzed since there has been no challenge to Proposition C. Staff Recommendation: That the CVRC/Redevelopment Agency receive and file the Legislative report. ACTION: Chair Cox noted no objection to staff's recommendation to receive and file the report. Vice Chair Rindone was absent. 7. CHIEF EXECUTIVE OFFICER'S REPORTS Interim Chief Executive Officer Thomson requested Acting Community Development Director Hix and her staff present the reports. Mr. Thomson requested Acting Community Development Director Hix report on both items 7.a. and 7.b. a. Report on Pipeline Process Acting Community Development Director Hix responded that this was a follow-up to a request from the last meeting for information. Ms. Hix stated that pipeline typically refers to how to regulate projects that are already in the process when the land use regulations are adopted. Both Community Development staff and the City Attorney's Office had provided memorandums, which drew the same conclusion, that there is already an existing section of the Chula Vista Municipal Code, Section 19.07.030 which related to specific plans and adequately addressed the pipeline issue for the Urban Core Specific Plan or others, although each would be taken on its own merits. The City Attorney's memorandum also addresses the A VCO rule, which essentially 1b - 5 Page 5 - CVRC/RDA Minutes http://www.chulavistaca.gov December 14, 2006 CHIEF EXECUTIVE OFFICER'S REPORTS (continued) requires projects to have all required permits and be substantially under construction to be considered in the pipeline. Further, Ms. Hix noted that Attachment 2 to the memorandum was a draft policy, which was shared with Mr. O'Neill, who felt it adequately addressed his concerns, and several other developers who seemed pleased, and would be brought back as part of the plan. Director Ramirez expressed concerns that the latitude given would increase the risk for the developer and give them false hope in entering into a project. b. EP A Brownfields Grant Principal Community Development Specialist Lee provided the report noting that this was a positive informational item that could present tremendous opportunities in the Southwest Redevelopment Project Area by looking at how contaminated properties, considered Brownfield sites, could be redeveloped. Mr. Lee explained that staff had submitted an application to the Environmental Protection Agency (EPA) for a $200,000 grant for a community-wide assessment of Brownfield sites in the Main Street industrial corridor. If approved, the grant would provide the City and Redevelopment Agency an opportunity to assess and eventually work with individual property owners and developers to identify and clean-up their sites. There are currently over 300 facilities that use or generate hazardous substances or petroleum products in the Main Street area, 39 of which have leaking underground storage tanks, and there have been several emergency responses for hazardous substance spills. There are existing, incompatible land uses where residential properties are located adjacent to industrial areas with brownfield contamination. The inventory and eventual clean-up program would seek to address these issues. The Main Street industrial corridor also is located in the middle of a regional watershed, which dumps water into the bay and thus poses environmental risks to sensitive habitat areas and the regional watershed as well. The inventory would be the first step in assessing the risk and challenges ahead, would provide an educational tool for the community about the risks, and a notification to property owners who may have contamination on their sites. They then could approach the City and Agency to partner to address the issues and assess at a more detailed level what the contamination levels are and move forward toward clean up. The EPA grant process involves the announcement of the grant, application submittal, selection and award (May 2007), submission of a detailed work plan, entering into a cooperative agreement between the City and the Federal government, and then beginning the inventory. Director Castaneda inquired as to how staff would work with property owners to obtain permission to enter properties to do the inventory. Mr. Lee responded that there would be a historical research of the sites to create the inventory first. The next step would be site specific clean up opportunities that would allow property owners to approach the City for redevelopment of their properties. The intent is not for staff to go after the property owners. Director Paul inquired as to whether City staff would be used to do the inventory. Mr. Lee responded that most of the funds would be used to obtain outside consultants and an RFP would be brought back to the CVRC should the grant be received. The Agency will provide in-kind 1b - 6 Page 6 - CVRC/RDAlCC Minutes http://www.chulavistaca.gov December 14, 2006 staffmg to support the program. Mr. Lee also clarified that the inventory will not require property access. 8. CHAIR'S REPORT There was none. 9. DIRECTOR'S REPORT Director Rindone arrived at 6:44 p.m. and announced his delay was due to his attendance at the Chula Vista Chamber's sharing of the International Partnership between Hilltop High School, the City of Chula Vista, the Sweetwater School District and now, for the first time, the Chula Vista Chamber of Commerce. They had a real-time, live, international teleconference with Mainland China and our Sister School in China. He then requested his colleagues calendar February 6th for a City Banquet to honor the Chinese Delegates. Chair Cox stated she was prepared to offer approval of the trailed November 16, 2006 Redevelopment Agency Minutes, however now Vice Chair Rindone was present but Agency member McCann had left the dais. Chair Cox requested the minutes be deferred to the next meeting. ADJOURNMENT At 6:53 p.m., Mayor Cox adjourned the City Council to its regularly scheduled meeting on December 19, 2006, at 6:00 p.m., and the The Chula Vista Redevelopment Corporation and Redevelopment Agency will adjourn to their regularly scheduled meetings on January 11,2007, at 6:00 p.m. Dana M. Smith, Secretary 1b -7 Page 7 - CVRC/RDA Minutes http://www.chulavistaca.gov December 14,2006 DATE: December 18, 2006 TO: Members of the Chula Vista Redevelopment Corporation FROM: Rudy Ramirez, Councilman SUBJECT: CVRC Meeting 1/11/07 The purpose of this memo is to inform you that I will be attending a League of California Cities meeting in Sacramento from January 10 thru January 12, 2007. Therefore, I request an excused absence from the January 11 CVRC meeting. RRmab JiA 2 . .. CORPORATION (HULA VISTi\ CVRC Board Staff Report - Page 1 Item No. 3 DATE: January 11, 2007 FROM: CVRC Board Directors Chair and Redevelopment Agency Members / Jim Thomson, Interim Chief Executive Officer II Ann Hix, Acting Director of Community Development ~ Mandy Mills, Housing Manager ~ CONSIDERATION OF THE SALE OF SPACE 2 AT ORANGETREE MOBILEHOME PARK TO: VIA: SUBJECT: BACKGROUND: In November 1987, Orange Tree Mobilehome Park converted to resident ownership. The Agency assisted residents in purchasing their park with a $600,000 acquisition loan, which was converted to loans for lower income residents to help them purchase spaces they had been renting. At that time, 29 residents either did not wish to or could not afford to purchase their mobilehome spaces. The Redevelopment Agency agreed to purchase the remaining spaces after the newly-formed homeowner's association was unable to secure the financing to purchase them. The Redevelopment Low and Moderate Income Housing Set-aside Fund was used to purchase the remaining spaces. Residents who did not purchase their space remained as renters in the Park. It was also the Agency's intent to sell these remaining spaces as new mobilehome buyers moved into the park, or to sell the spaces to the current residents when they were in the position to buy. Over the last 19 years, 23 spaces have been sold. Proceeds from the sales have been deposited in the Redevelopment Low and Moderate Income Housing Set- aside Fund. Only six spaces remain in Agency ownership. The current resident renting Space 2 has submitted an offer to purchase. The property is located in Orange Tree Mobilehome Park at 521 Orange Avenue. ENVIRONMENTAL DETERMINATION The Environmental Review Coordinator has reviewed the proposed activity for compliance with the California Environmental Quality Act (CEQA) and has determined that there is no possibility that the activity may have significant effect on the environment; therefore, pursuant to Section 15061 (b)(3) of the State CEQA Guidelines the activity is not subjected to CEQA. Thus, no environmental review is necessary. 3-1 Staff Report - Item No.3 Page 2 RECOMMENDATION: 1. That the Redevelopment Agency conduct a public hearing and consider testimony; 2. That the CVRC adopt a resolution recommending that the Redevelopment Agency authorize the Community Development Director to execute a purchase contract and related documents for Space 2 at Orange Tree Mobilehome Park; and 3. That the Redevelopment Agency adopt a resolution approving the real estate purchase contract and authorizing the Community Development Director to execute said contract and related documents for Space 2 at Orange Tree Mobilehome Park. DECISION MAKER CONFLICT Staff has reviewed the property holdings of the CVRC Board and Redevelopment Agency members and has found no property holdings within 500-feet of the boundaries of the property which is the subject of this action. DISCUSSION: On November 29, 2006, Clifford H. Baas submitted an offer to the Community Development Department to purchase Space 2 for $47,000. The land value of the property has been appraised at $50,500. Staff recommends that the Agency accept the offer of $47,000, $3,500 less than the appraised value because of the Agency's desire to sell the spaces. Although the purchase price is less than the appraised value, this sale will meet the Agency's goals of fostering permanent housing opportunities for low and moderate income residents. This is a request to authorize the Community Development Director to execute a purchase contract (attached) and related documents as approved by the City Attorney's office for the sale of Space 2 at Orange Tree Mobilehome Park. California Health and Safety Code, Article 11, Section 33431 requires a public hearing to consider a sale of agency-owned property without public bids. Staff believes that the proposed sale is appropriate because the sales price is consistent with the fair market value of the property. FISCAL IMPACT: Proceeds of the sale, less the estimated closing costs of approximately $800, will be deposited into the Agency's Low and Moderate Income Housing Set-aside Fund for further use in providing affordable housing programs within the City. PREPARED BY: Stacey Kurz, Senior Community Development Specialist 3-2 01 .n.." 0;:1'-' w ~ r-' , ' } , , ) (~...,,/' 67 69 70 ".ACE I TO 99 100 TO 154 IDeA P...uICR NUl.IBER T7G-:DO-IO-OI TO IlQ 7J6-2>>-II-ClO To S-4 Ttll-DO-II-":li 7Z ,'" 73 ,..~... 1 74 W 76 I W 7 W ~ 13 78 ;;>; <( 79 ~I <r 0 IlO 8' ~ ffi @ .~~ lAIl KcaccutTY IoSSUllDll111.\1' lOOII!i~.tAli[_o.L. :stfT.z llIAI'1'I;a fO. 's.sw.oomr"".I'Osu lJ'I~' 623-01 SHT. 2 ..--" Z HQ SCALE E9 ~ /2-4 -92 r' '" Il ,s BL OLO HEW CUT ~ ~ tr 1<7 Kf- ,. f " 10 rLL '" I. ., , I. "7 ILL ~+ 10 "" 3. ... .. . KILL " rt.)C. "'.... ..... '" .. II .lnl ~ ... " ~ Z <( ORANGE TREE MOBILE HOME PARK MAPPED FOR MOBILE HOME' ASSESSMENT ONLY > -l -l > () :J: ~ m Z -l ..... CVRC RESOLUTION NO. 2007- RESOLUTION OF THE CHULA VISTA REDEVELOPMENT CORPORATION OF THE CITY OF CHULA VISTA RECOMMENDING THAT THE REDEVELOPMENT AGENCY AUTHORIZE THE COMMUNITY DEVELOPMENT DIRECTOR TO EXECUTE A PURCHASE CONTRACT AND RELATED DOCUMENTS FOR SPACE 2 AT ORANGE TREE MOBILEHOME PARK WHEREAS, the Redevelopment Agency currently owns mobilehome spaces at Orange Tree Mobilehome Park located at 521 Orange Avenue, Chula Vista; and WHEREAS, an offer to purchase space 2 at Orange Tree Mobilehome Park has been received by the Community Development Department for $47,000; and WHEREAS, the land value has been appraised at $50,500; and WHEREAS, this sale will meet the Agency's goals of fostering permanent housing opportunities for low and moderate income residents; and WHEREAS, Article II, Section 33431 of the Health and Safety Code requires a public hearing be held for any sale or lease of Agency-owned property without public bids; and WHEREAS, said public hearing has been conducted pursuant to Section 33431 for the sale of space 2 at Orange Tree Mobilehome Park; and WHEREAS, the Redevelopment Agency has found and determined that the sale of space 2 at Orange Tree Mobilehome Park to the buyer, on the terms proposed is for fair value under the circumstances, is in the best interest of the Redevelopment Agency, and is consistent with its housing goals; and WHEREAS, the Environmental Review Coordinator has reviewed the proposed activity for compliance with the California Environmental Quality Action (CEQA) and has determined that there is no possibility that the activity may have a significant effect on the environmental; therefore, pursuant to Section 15061(b)(3) of the State CEQA Guidelines the activity is not subject to CEQA. Thus, no environmental review is necessary. NOW, THEREFORE, BE IT RESOLVED the Chula Vista Redevelopment Corporation of the City of Chula Vista recommends that the Redevelopment Agency authorize the Community Development Director to execute a purchase contract and related documents for Space 2 at Orange Tree Mobilehome Park. PRESENTED BY APPROVED AS TO FORM BY Ann Moore Agency Counsel Ann Hix Acting Community Development Director J :\COMMDEV\CVRC\CVRC Meetings\StaffRepor1 Orange Tree Lot 2 - eVRe Reso.doc 3-4 RDA RESOLUTION NO. 2007- RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA APPROVING THE REAL ESTATE PURCHASE CONTRACT AND AUTHORIZING THE COMMUNITY DEVELOPMENT DIRECTOR TO EXECUTE SAID CONTRACT AND RELATED DOCUMENTS FOR SPACE 2 AT ORANGE TREE MOBILEHOME PARK WHEREAS, the Redevelopment Agency currently owns mobilehome spaces at Orange Tree Mobilehome Park located at 521 Orange Avenue, Chula Vista; and WHEREAS, an offer to purchase space 2 at Orange Tree Mobilehome Park has been received by the Community Development Department for $47,000; and WHEREAS, the land value has been appraised at $50,500; and WHEREAS, this sale will meet the Agency's goals of fostering permanent housing opportunities for low and moderate income residents; and WHEREAS, Article 11, Section 33431 of the Health and Safety Code requires a public hearing be held for any sale or lease of Agency-owned property without public bids; and WHEREAS, said public hearing has been conducted pursuant to Section 33431 for the sale of space 2 at Orange Tree Mobilehome Park; and WHEREAS, the Redevelopment Agency has found and determined that the sale of space 2 at Orange Tree Mobilehome Park to the buyer, on the terms proposed is for fair value under the circumstances, is in the best interest of the Redevelopment Agency, and is consistent with its housing goals; and WHEREAS, the Environmental Review Coordinator has reviewed the proposed activity for compliance with the California Environmental Quality Action (CEQA) and has determined that there is no possibility that the activity may have a significant effect on the environmental; therefore, pursuant to Section 15061(b)(3) of the State CEQA Guidelines the activity is not subject to CEQA. Thus, no environmental review is necessary. NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency of the City of Chula Vista as follows: I. That based on the facts and findings set forth above, the Redevelopment Agency of the City of Chula Vista does hereby approve the sale of space 2 at Orange Tree Mobilehome Park to Clifford H. Baas for the purchase of $47,000; and 2. That the Redevelopment Agency of the City of Chula Vista does hereby authorize the Community Development Director to execute a purchase contract on the terms presented, in 3-5 RDA Resolution No. 2007- Page 2 substantially the same form on file in the City Clerk's office, and escrow instructions, each in a final form approved by the Agency Attorney, and with such additional provisions as may be deemed necessary or appropriate thereby; and 3. That the Redevelopment Agency of the City of Chula Vista does hereby authorize the Community Development Director to take such other action as deemed necessary to consummate said sale of space 2 at Orange Tree Mobilehome Park. PRESENTED BY APPROVED AS TO FORM BY Ann Hix Acting Community Development Director Ann Moore Agency Counsel J:\COMMDEV\CVRC\CVRC Meetings\StaffReports\2007\OI-11-07\Orange Tree Lot 2 - RDA Reso.doc 3-6 ~lf? --.- '--- --- - - -~ ellY OF CHULA VISTA REAL ESTATE PURCHASE CONTRACT AND RECEIPT FOR DEPOSIT This is more than a receipt for money. It is a legally binding contract. Read it carefully. REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA CO~DEVELOPMENTDEPARTMENT '-'Standard Form'" Chula Vista, California ,2007 Clifford H. Baas. ("Buyer"), desires to purchase Space 2 at Orange Tree Mobilehome Park, 521 Orange Avenue, Chula Vista. The Redevelopment Agency of Chula Vista ("Agency") has received from Buyer, the sum of three hundred fifty dollars ($350.00) evidenced by: [mark one) [ ] Cash [ ] Cashier's Check [ X ] Personal Check [ ] Other payable to the Redevelopment Agency of the City of Chula Vista as a non-refundable deposit on account of purchase of property. Upon acceptance of this offer, Clifford H. Baas will deposit into escrow the remaining balance $46.650 of the purchase price of $47.000. for the purchase of property situated in Chula Vista, County of San Diego, California, described as follows: SEE ATTACHED LEGAL DESCRIPTION (More commonly known as Space ~ at Orange Tree Mobilehome Park, 521 Orange Avenue, Chula Vista) (the "Property") 1. Buyer will deposit in escrow with Heritage Escrow the balance of $46.650 towards the purchase price of $47.000. 2. Redevelopment Agency of the City of Chula Vista will credit the $350 received as a non- refundable deposit towards the purchase price of $47.000. 3. Buyer intends to occupy the Property as his residence. 4. Buyer and Agency (collectively, the "Parties"), shall deliver signed instructions to the escrow holder within seven (7) days from Agency acceptance, which shall provide for closing within 30 days from Agency's acceptance. Escrow and other fees to be paid as follows: Bv Agencv: 1. 2. 3. 4. 5. 6. 7. Owner's Title Insurance Policy One-half of Escrow Fee Document Transfer Tax Document Preparation Fee IRS Tax Report One-half of Transfer Fee of Homeowners Association Proration of Property Taxes and Homeowners Association Fee \ 3-7 Real Estate Purchase Contract Page 2 of3 Bv Buver: I. One-half of Escrow and Homeowners Association Fee. 2. If the sale is not completed due to fault of the Buyer, Buyer shall be responsible for any escrow and related fees. 5. Approval of this sale shall be contingent upon final approval of the Redevelopment Agency of the City of Chula Vista. 6. Buyer acknowledges having received copy of the Declarations, Covenants, Conditions and Restrictions and all amendments hereto, if any, governing the described property, together with a copy of the By-laws of the Orange Tree Homeowners Association. 7. Buyer and Agency each acknowledge receipt of a copy of this "Real Estate Purchase Contract And Receipt For Deposit" (the "Agreement") , which is comprised of three pages. 8. This Agreement constitutes the entire Agreement between the Parties. Any amendments to this Agreement shall be in writing and shall be signed by both Parties. 9. If a lawsuit is filed in connection with this Agreement, the prevailing party shall be entitled to be compensated for legal expenses including reasonable attorneys' fee. 10. Buyer agrees and acknowledges that he may have made an independent investigation to the extent Buyer deems appropriate, concerning the physical condition (including the existence of hazardous materials), value, development, use, marketability, feasibility and suitability of the subject Property, including, but not limited to, land use, zoning and other governmental restrictions and requirements. Buyer is acquiring the subject Property "as is", in its present state and condition solely in reliance upon Buyer's own investigation, and no representations or warranties of any kind, express or implied, have been made by the Agency or its representatives, except as expressly set forth in this Agreement. Buyer unconditionally releases Agency from and against any and all liability, both known and unknown, present and future, for any and all damages, losses, claims and costs (including without limitation, the existence of hazardous materials), or the subject Property's non-suitability for intended use. With respect to this Section, Buyer waives the provisions of California Civil Code Section 1542 which provides: "A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor." II. Buyer will accept the subject Property, and the matters relating to the subject property listed below, in the present "as is" condition. The matters are: a. Soils. Topographv. Etc. Soils and geological condition; topography, area and configuration; archeological, prehistoric and historic artifacts, remains and relics; endangered species. b. Utilities. Schools. Etc. Availability of utilities, schools, public access, and fire and police protection. c. Assessment Districts. assessment districts. The status and assessments of any and all d. Planning and Zoning. Applicable planning, zoning, and subdivision statutes, ordinances, and regulations. 3-8 Real Estate Purchase Contract Page 3 of3 e. Easements and Encroachments. Any easement, license, or encroachment which is not a matter of public record, whether or not visible upon inspection of the subject property; Agency warrants to Buyer that Agency knows of no such easement license or encroachment. f. Other Matters. Any other matter relating to the subject property or to the development of the subject property, including, but not limited to, value, feasibility, cost, governmental permissions, marketing and investment return, except as otherwise expressly provided in this Agreement. 12. Real Estate Commissions. Each party warrants to the other that no brokers or finders have been employed or are entitled to a commission or compensation in connection with this transaction. Each party agrees to indemnifY, protect, hold harmless and defend the other party from and against any obligation or liability to pay any such commission or compensation arising from the act or agreement of the indemnifYing party. 13. Buyer covenants by and for himself, his heirs, executors, administrators, and assigns, and all persons claiming under or through him, that there shall be no discrimination against or segregation of, any person or group of persons on account of race, color, creed, religion, sex, marital status, national origin, or ancestry in the sale, lease, sublease, transfer, use, occupancy, tenure, or enjoyment of the Property, nor shall Buyer or any person claiming under or through him, establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use or occupancy of tenants, lessees, subtenants, sub lessees, or vendees in the Property. The foregoing covenants shall run with the land. Dated: Dated: BUYER REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA t~j7 #fJ4~.LJ Clirt: . Baas Ann Hix Acting Community Development Director 3-9 . .. CORPORATION (HULA VIST\ CVRC Board Staff Report - Page 1 Item No. 4 DATE: January 11, 2007 TO: Redevelopment Agency Board of Directors CVRC Board of Directors f VIA: Jim Thomson, Interim Executive Director/CEO FROM: Maria Kachadoorian, Finance Director,\\\A' .n.V Ann Hix, Acting Director of CommunitY.'tkvelopmentfP~ SUBJECT: Redevelopment Year-End Reports for FY 2005-2006 BACKGROUND: The Chula Vista Redevelopment Agency is required to prepare an Annual Report for consideration by its board. California State Health and Safety Code Section 33080.1 requires the report to include the following elements: (1) an independent financial audit report and opinion regarding the Agency's compliance with applicable regulations; (2) the Report of Financial Transactions of Community Redevelopment Agencies (State Controller's Report); and (3) the State Department of Housing and Community Development Schedules A-E. These reports provide detailed information regarding the activities of the Redevelopment Agency. RECOMMENDATION: Staff recommends that the Chula Vista Redevelopment Corporation and Redevelopment Agency accept the Redevelopment Year-End Reports for FY 2005-2006. DISCUSSION: Independent Financial Audit Report Pursuant to the City Charter and California State Health and Safety Code, an annual audit is performed of the Agency's financial records by an independent accounting firm. The report is included as Attachment 1. The firm of Moreland and Associates has examined the general purpose financial statements of the Redevelopment Agency of the City of Chula Vista, and issued their opinion that those statements "present fairly, in all material respects, the financial position of the Agency as of June 30, 2006, and the results of its operations and cash flows for the year then ended in conformity with generally accepted 4-1 Staff Report - Item No.4 January 11, 2007, Page 2 accounting principles." The audit did not result in any material adjustments to previously reported year-end figures. In order to form a basis for their opinion, Moreland and Associates, Inc. evaluated the internal control procedures of the Agency and found no material weaknesses. This was Moreland and Associates first year serving as the City's auditors. The audit firm was very professional and efficient in their work, and provided fresh insight and ideas that were incorporated into Agency's Consolidated Annual Financial Report (CAFR). Report of Financial Transactions of Community Redevelopment Agencies The Report of Financial Transactions of Community Redevelopment Agencies (State Controller's Report), included as Attachment 2, provides a summary of the financial transactions of the Redevelopment Agency during FY 2005/06. Additionally, the Agency must provide a description of the properties that it owns, a summary of Agency expenditures in the previous fiscal year that have contributed to alleviating blight, and a list and status of all loans made by the Agency that are in default or out of compliance. State Department of Housing and Community Development Schedules A-E Provided as Attachment 3 are the HCD schedules which report on the status and use of the Low and Moderate Income Housing Funds and housing activities for FY 2005/06. DECISION MAKER CONFLICTS: Staff has reviewed the decision contemplated by this action and has determined that it is not site specific and consequently the 500 foot rule found in California Code of Regulations section 18704.2(a)(1) is not applicable to this decision. FISCAL IMPACT: None ATTACHMENTS: 1) Independent Financial Audit Report; 2) Report of Financial Transactions of Community Redevelopment Agencies (State Controller's Report); 3) State Department of Housing and Community Development Schedules A-E PREPARED BY, Amanda Mills, Housing Manager, Community Development Dept. 4-2 REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA Financial Statements . Independent Auditors' Report For the Year Ended June 30, 2006 ATTACHMENT 1 REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA Basic Financial Statements For the Year Ended June 30, 2006 TABLE OF CONTENTS Letter of TransrrrirtEU Independent Auditors' Report Basic Financial Statements Management's Discussion and Analysis (Unaudited) Statement of Net Assets Statement of Activities Balance Sheet - Gove=ental Funds Reccnciliation of the Balance Sheet of Gove=ental Funds to the Statement of Net Assets Statement of Revenues, Expenditures and Changes inFund Balances - Gove=ental Funds Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Gove=ental Funds to the Statement of Activities Notes to Financial Statements Required Supplementary Information (Unaudited): Low and Moderate Income Housing Special Revenue Fund - Budgetary Comparison Schedule Redevelopment Agency Housing Program Special Revenue Fund - . Budgetary Comparison Schedule Chula Vista Housing Authority Special Revenue Fund - Budgetary Comparison Schedule Notes to Required Supplementary Information . Page 1 I 3 8 9 10 13 14 17 19 36 37 38 39 REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA Basic Financial Statements For the Year Ended June 30, 2006 TABLE OF CONTENTS (Continued) Supplementary Information: Bayfront/Town Centre I Debt Service Fund - Budgetary Comparison Schedule Town Centre II Otay Valley Southwest Merged Projects Debt Service Fund - Budgetary Comparison Schedule Independent Auditors' RepOlt on Internal Control Over Financial Reporting and on Compliance (Including the Provisions Contained in the Guidelines for Compliance Audits of Redevelopment Agencies) and Other Matters Based on an Audit of Financial Statements Perfonned in Accordance with Gove=ent Auditing Standards ~ 42 43. 45 ~ !~;:... . ~-'~.l U-.:_ ..,....~___: "'".......--~ ~---.-""'-..... em' Of CHULA V~STA . REDEVELOPMENT AGENCY October 26, 2006 Honorable Members of the Agency, The Basic Financial statements and Independent Auditor's Report on all projects of the City of Chula Vista Redevelopment Agency for the year ended June 3D, 2006 is presented in accordance with the Community Redevelopment Law, 9 33000 of the Health and Safety Code of the State of Caiifomia. The accuracy of the data presented and the compieteness and fairness of the presentabon, including all disciosures, are the responsibility of the City. The Report has been prepared in accordance with Generally Accepted Accounting principles (GAAP) as promulgated by the Governmental Accounbng Standards Board (GASB). It is believed that the data raported is accurata in all material respects, that it. is prasented in a manner designed to fairly represent the financial position and resuits of operations of the City as measured by the financial activity in its various Funds, and that all disciosures necessary to enable the reader to gain maximum understanding of the City's financial affairs have been included. Redevelo-pment Agency Background Redevelopment Law Redevelopment in California started in 1945 with the enactment of the California Redevelopment Act, which gave cities and counties the authority to establish redevelopment agencies. In 1951, the Community Redevelopment Act was codified and renamed the Community Redevelopment Law under Health and Safety Code Section 33000, et seq. Most importantiy, the authority for Tax Increment 'financing was added. In 1976, the state Legislature imposed a requirement that 20% of the tax increment generated from project areas must be used to improve the community's supply of affordable housing. In addition, school districts and community college districts and other taxing entties receive a portion of the redevelopment tax increment For redevelopment projects that were adopted before AB 1290, or January 1, 1994, the Agency negobated agreements ",;th these taxing entifies. However after the enactment of AB1290, the negofiated separate agreements with each taxing enfity were eliminated and implementation of statutory reimbursement to all taxing enfifies was implemented; Tax Increment Primer Tax Increment is the increase in property taxes within the redevelopment project area that result from increases in the project area assessed value that exceeds the base year assessed value. This funding source provides a \fr/a.Y to improve an area by enabling redevelopment agencies to issue tax increment bonds v~~thout using general fund monies or raising taxes. 1 276 FOURTH AVENUE. CHULA VISTA' CALIFORNIA 91910' (619) 691-5047 . FAX (619) 476-5310 @J'Icl-~ilo:y::loOPapi: Tax Increment is a powerful funding source for redeveiopment activities due to the increased percentage . of property tax the Agency is able to retain. In California, property tax is calculated at one-percent of a property's assessed value. Of this one-percent the City receives .approximateiy $0.15 per dollar CDlIected, The rest is passed through to other taxing entities (I.e. school districts, County and ERAF). However with property taxes collected in a redevelopment project area established in 1994 Dr later, the City and other taxing entities will still receive their share of base year taxes but the Agency will receive approximateiy 60 percent of the tax increment (taxes above base year values) generated in the project area (I.e. gross tax increment less 20% for low and moderate housing and 20% for AB1290 pass throughs). The CitYs Redevelooment Aaencv Redevelopment Project Areas -- -- ~ \ City of Chula Vista REDEVELOPMENT PROJECT AREAS C=:J BAYFRONT _OTAYVAllEY ROAD _ SOUTHWEST ~ TOWN CENTRE I IIIilIiI TOWN CENTRE II c::=::::J ADDED REDEVELOPMENT AREAS Aaencv Historv The City of Chula Vista's Redevelopment Agency (Agency) was fomned in 1972. The goals of the Agency are to reduce blight and to encourage new development, reconstnuction, and rehabilitation of residential, commercial, industrial and retail uses. The map above depicts the Agency's five project areas as well as areas recently added. The table below summarizes important dates for the project areas. ii Project Areas and Timelines Cumulative Final Date of Termination Tax Increment Date to Plan Date Project Area Revenue Limit Incur Debt Termination of Reven ue Bayfrent $ 210,000,000 No Limit 7/16/2017 7/16/2027 Bayfrent Amended 7/17/2018 7/7/2029 7/7/2044 Town Centre 1 $ 84,000,000 No Limit 7/6/2019 7/6/2029 Otay Valley $ 115,000,000 No Limit 12/29/2026 12/29/2036 Southwest $ 150,000,000 No Limit 11/27/2031 11/27/2041 Southwest Amended No Limit 7/912032 7/9/2042 Town Centre 2 $ 100,000,000 No Limit. 8/15/2021 8/15/2031 Town Centra 2 Amended No Limit 7/19/2029 711912039 2004 Amendment Area No Limit No Limit 5/112034 5/112049 During the 1970's and 1980's the Agency focused on the Town Centre I, Town Centre II and Bayfront Redevelopment Project Arees. The Agency issued $7.15 million In tax allocation bonds in 1979, $25.0 million in 1984, $38.6 million in 1986 and $11.0 million Certificate of Participation was issued in 1987. Most of the bond proceeds were used for planning studies or public Infrastructure projects that previded a public benefit. This strategic focus provided infrastructure in the downtown and bay frent ereas, but primarily due to a sluggish real estate market, the public investment did not have the intended effect of spurring major new development in either location. Projects during this period included: (1) streetscape improvements along Third Avenue; (2) development of a public parking structure in the Park Plaza development; and (3) removai of junkyards from the bay front. In the 1990s, the Agency again focused on foundational planning efforts, inciuding adoption of the Southwest Redevelopment Project Area to address the annexation of the Montgomery area. Added investment in pubiic improvement projects inciuded the South Bay Court House ($1.3 million), the Palomar Troiley Center ($776,000) and the Chula Vista Center parking structure ($3.5 million). The Agency's Merged Project Area was created in August 2000 pursuant to an amendment to the redevelopment pians of three of the Agency's Project Areas. (Le. Town Centre II, Otay Valley and Southwest). Subsequently in October 2000, the Agency issued its most recent Tax Allocation Bond In the amount of $17.0 million. Aiso in 2000, a development agreement for the Gateway Chula Vista Project, a 347,000 square fDot upscale office development at the nDrthwest CDrner of Third Avenue and "H" Street, was entered into by the Agency, committing $7.2 million of Agency funds, representing a shift of focus toward urban core infill opportunities affDrded by changes in the real estate market and renewed interest from developers. The first of 2 phases is complete and the result is an increase Df tax increment of approximateiy $400,000 annually. Over its 30 year life span, the Agency ushered in a few significant developments including the 1992 redevelopment of properties for the Scripps Hospital expansion on H Street, the constructiDn Df the Rohr Headquarters Building, upgrades to the Chula Vista Center, relocatiDn of the autD park to Otay Valley RDad and land swap fDr the development of the state Veterans HDme in 2001. The Agency also funded the new Chula Vista Police Station in the amount Df $5.8 million in the form of relDcation assistance and land acquisition. iii The chart below displays the growth of tax increment for the past ten years. It should be noted that in fiscal year 2002, tax increment decreased due to the devaluation of tha South Bay Power Plant by the State Board of Equalization. . Gross Tax Increment Revenue Ten-Year Chart For the years ended June 30 Mimons $12 $10 $8 $6 $4 $2 $0 ~ '-- <::; <= '" V 1 I - . V- I,-' l- I> - - -. :.:~ 1-1.' I. Je V- - .. I- - - " _I. - .- -- -- '.' - - - - -7 1997 1998 1999 2000 2001 20022003 20042005 2008 ACCOUNTING SYSTEMS AND BUDGETARY CONTROL The basic financial statements are presented on an "economic resources" measurement focus and the accrual basis of accounting. Accordingly, all of the Agency's assets and liabilities, including capital assets, as well as infrastructure assets, and long-term' liabilities, are included in the a=mpanying Statement of Net Assets. The Statement of Activities presents changes in net assets. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which the liability is incurred. All governmental funds are accounted for on a spending or .current financial resources" measurement focus and the modified accrual basis of accounting. Accordingly, only current assets and current liabilities are included on the balance sheet. The Statemeht of Revenues, Expenditures and Changes in Fund Balances present increases (revenue and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Under the modified acc,rual basis of accounting, revenues are recognized in the accounting period in which they become both measurable and available to finance expenditures of the current period. In administering the Agency's accounting systems, primary consideration is given to the adequacy of intemal accounting controls, which include an array of administrative procedures. These controls are designed to provide reasonable, but not absolute, assurance regarding the safeguarding of assets against loss from unauthorized use. or disposition, as well as the reliability of financial records for accurate and fair presentation of financial reports. The concept of reasonable assurance recognizes that the cost of specific controls should not exceed the benefits likely to be derived from exercising the controis, and that this evaluation necessarily involves estimates and judgments by management. It is believed that the City's internal accounting controls adequately safeguard City assets and provide reasonable assurance of , proper recording of financial transactions. The City Charter charges the Director of Finance with the responsibility to supervise and be responsible for the disbursement of all monies and have control over ail expenditures to ensure that budget appropriations are not exceeded. The level of budgetary control, that is, the level at which expenditures IV are not to exceed CDuncil apprDved appropriatlDns, is established by department at the category ievel. An encumbrance (commitment) accDunting system is utilized as a technique tD enhance budgetary control during the year. AppropriatiDns encumbered (cDmmitted) at year end autDmatically carry fDrward and ,are avallabie tD be used fDr thDse commitments during the subsequent year while unspent, unencumbered apprDpriatiDns lapse at year end and become generally avallabie for re-appropriatiDn the fDIIDwing year. INDEPENDENT AUDIT An independent audrt Df the Agency's records is required by CDmmunity Redevelopment Law, 9 33000 of the Health and Safety CDde Df the State Df CalifDmia and was performed fDr the year ended June 30, 2006 by the certified public accDunting fimn Df Moreiand and AssDciates, inc. The auditDrs repDrt Dn the basic financial statements and schedules is included in the Financial Section of the RepDrt. In general, t'1e euditors cDnciuded that the financial statements and scheduies refemad tD abDve present fairly, in all material respects, the financial pDsitiDn Df the Agency as Df June 3D, 2006, and the results of its operations and cash flows Df its proprietary fund types for the year then ended in confonmily with , generally accepted accDunting principies. The professionalism and knowledge exhibited by MDreland and Associates, Inc. during their audit wDrk is greatiy appreciated. ACKNOWLEDGMENTS PreparatiDn' of the Report and mDre impDrtantly, maintaining the Agency's accounting records in' a manner sufficient tD earn the afDrementiDned aU,dltDrs Dpinion Is only accDmplished with the continuDus cDncerted effort Df each and every staff member in the Finance Depertment As such, I express my sincere appreciatiDnfor their dedicated service. Respectfully, - KoJ~ Ma a KachadoDrian, CPA, MPA Dir ctor of FinancefTreasurer v Moreland & ~ JPnfY. CERTlFIED PUBLIC ACCOUNTAI-ITS 1201 DOVE STREIT, S~fTE 680 NEWPORT BEACH, CAUFORN1A 92560 (949) 221-0025 570 RAl>JCHEROS DRIVE, SUITE 260 SAN MARCOS, CA 92069 [760) 752-3390 October 26, 2006 TIle Board of Directors of the Chula Vista Redevelopmeut Agency Independent Auditors' Report We have audited the financial statements of the governmental activities and each major fund of the Redevelopment Agency of the City ofChula Vista (Agency), a component unit of the City of Chula Vista, California as of and for the year ended June 30, 2006, which collectively comprise the Agency's basic financial statements as listed in the table of contents, These financial statements are the responsibility of the Agency's management. Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to fmancial audits contained in Government Auditin" Standards issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as' well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinions. In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of the Agency as of June 30, 2006, and the respective changes in financial position thereof for the year then ended in conformity with accounting principles generally accepted in the United States of Amel~ca, In accordance with Government Auditing Standards. we have also issued our rep0l1 dated October 26, 2006 on our consideration of the Agency's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regnlations, contracts, grant agreements and other matters. The purpose of that rep0l1 is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the internal control over fmancial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Anditing Standards and should be considered in assessing the results of our audit. The management's discussion 81ld analysis and other required supplementary information identified in the accompanying table of contents are not a required part of the basic financial statements but are supplementary. information required by the Governmental Accounting Standards Board, We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentation of the required suppleulentary infOlmation. However, we did not audit the information and express no opinion on it. 4~.u( ~~<,;'~~-hC. I This page has been left blank intentionally. 2 CITY OF CHULA VISTA - REDEVELOPMENT AGENCY MANAGEMENT'S DISCUSSION AND ANALYSIS FOR THE FISCAL YEAR ENDED JUNE 30, 2006 The discussion arid analysis of the Redevelopment Agency's (Agency's) financial performance provides an overall review of the Agency's financial activities for the fiscal year ended June 30, 2006. The intent of this discussion and analysis is to look at the Agency's financial performance. as a whole. Readers should also review the basic financial statements, as well as the prior year's report ending June 30, 2005, to enhance their understanding of the Agency's financial performance. The financial section of this report has been prepared to show the results of the financial administration, financial condition, and operation of the Agency. The firm of Moreland and Associates, Inc., whose opinion is included in this report, has audited the combined financial statements in this report. BASIS OF ACCOUNTING AND FUND GROUPINGS The basic financial statements are presented on an "economic resources" measurement focus and the accrual basis of accounting. Accordingly, all of the Agency's assets and liabilities, inclUding capital assets and long-term liabilities, are included in the accompanying Statement of Net Assets. The Statement of Activities presents changes in net assets. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which the liability is incurred. All governmental funds are accounted for on a spending or "current financial resources" measurement focus and the modified accrual basis of accounting. Accordingly, only current assets and current liabilities are included on the Balance Sheet. The Statement of Revenues, Expenditures and Changes in Fund Balances present increases (revenue and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Under the modified accrual basis of accounting, revenues are recognized in the accounting period in which they become both measurable and available to finance expenditures of the current period. The Agency maintains funds in accordance with generally accepted accounting principles set forth by the GASB and other rule-making entities. FINANC!AL DISCUSSION Under the Governmental Fund statements, the Redevelopment Agency reported an excess of expenditures over revenues of $1.6 million, including transfers in and out. The total fund balance at June 30, 2006 was $31.2 million, of which $6.9 million is designated or committed. Designations represent management's intended use of resources and reflect actual plans approved by the City Council. Total tax increment revenue increased by 16.4% in flscal year 2006, to $10.4 million from $8.9 million in the previous fiscal year. The increase occurred because of increases in assessed values and the expansion of the redevelopment project area by 500 acres in FY 2004. The Southwest project area ($654,273) and the newly added area ($489,114) accounted for 78% of 3 the $1.46 million increase in tax increment. In FY 2005 there was no tax increment generated by the added area because it did not exceed its base year value. . Gross Tax Increment Revenue For the years ended June 30 lncreasellDecrease) Fiscal Year Tax Increment Amount Percentage 2000-2001 $7,540,242 2001-2002 $7,032,266' ($507,976) (6.7%) 2002-2003 $7,822,850 $790,584 11.2% 2003-2004 $8,317,575" $494,725 6.3% 2004c2005 $8,939,342 $621,767 7.5% 2005-2006 $10,404,881 $1,465,539 16.4% Tax Increment Comparison to Prior Year Millions 3.00 2.50 1,768,720.00 1,998,403.00 1,408,718.00 1,183,452.00 Southwest Added 2,157.676.00 2,811,949.00' 489,114.00 2.00 1.50 1.00 0.50 Baytront o FY05 2,326,399.00 IJIFY06 2,288,275.00 IOFY05 ClFY061 Total revenue reaiized by the Agency for fiscal year 2006 was $11.7 million, of which 89.1% was tax increment revenue, 9.7% were charges for use of money and property and 1.1% was other income. Total expenditures for fiscal year 2006 were $15,0 million. The expenditures 1 In fiscal year 2002, tax increment decreased due to the devaluation of the South Bay Power Plant by the State Board of Equalization. 'The fiscal year 2003-04 tax increment is adjusted downwards by $2.0 million for companson to other fiscal years. A correction to the Unitary Tax Roll was made by the County of San Diego to reallocate the 1 % State Unitary tax revenues that had affected prior years. 4 include $9.8 million for general government and capital outlay that include all redevelopment activjties. Repayment of long-term debt, interest, and fiscal charges totaled $5.2 million. REDEVELOPMENT AGENCY ACTIVITIES & HIGHLIGHTS The City. has' identified redevelopment of the Bayfront for many years as a top priority. In addition to removing blight and capitalizing on underutilized property, a reinvigorated Bayfront can provide stronger waterfront access and recreational amenities, improved visibility and recognition for the City, enhanced market potential and property values for the City's urban core and an improved contribution to the City's fiscal resources and public service levels. The City had these results in mind when the Bayfront was identified as a redevelopment project area. In June of 2005, the City and the Port of San .. Diego received an unsolicited letter of interest from Gaylord Entertainment regarding development of a major resort hotel and conference center on the City's Bayfront. Gaylord has proposed a project that would consist of a 1,500 to 2,000 room resort hotel, approximately 400,000 square feet of meeting rooms and exhibit halls/ballrooms and a retail/entertainment/restaurant component. The Gaylord proposal is unique in its ability to advance these City objectives in a relativeiy short period of time. Whereas a market ~ analysis conducted for the Bayfront master pian would likely occur over several decades in the absence of a "catalyst" project. The Gaylord proposal would redevelop a substantial portion of the of the Bayfront area over the next several years and is likely to attract further investment during the same time or shortly thereafter. This acceleration of development will have the effect of increasing the numerous revenues generated, which can be used to augment the City's infrastructure and public services. Negotiations are on-going with Gaylord, the City and the Port of San Diego. On May 25, 2006, the Chula Vista Redevelopment Corporation (CVRC) took formal action to transmit a recommendation to the Redevelopment Agency to adopt a new, comprehensive Five Year Implementation Plan (2005-2009) for the City's redevelopment project areas. The Agency took a new and unique approach to preparing the Plan from a structural and functional perspective. in previous five-year cycies, the Agency adopted Individual Five Year Implementation Plans for each of the City's six project areas. The 2005-2009 Plan consolidated the six plans into a single, cohesive document and created a coordinated work program for the Agency that identifies key tasks and activities by geographic regions al)d focus areas.- The purposes and objectives of the Plan are to: Provide important and educational information to decision-makers and the public about the role and functional purpose of redevelopment. 5 ~'~.r""'",r-<~."""""_~"'c<'-~.';<"'"~_""N"" FIVE YEAR lMPLEh1Et\'TATJO:-< PLA.N C.~UL~ ''l.~A I::O~'FiO~.\~~'" ..a:l<lO' . ~~=t~~ .-'~ ~ "'. '. =,.:N!' .~ "''''' iM -... JJ'~ .id I'h.!, '.~.._~ i ~ ~lJ~ ~'1 ~ ~= I..,,"._'~ "."...""_ ..,"'C_e ~",.<"""",,,,_.; Establish coherent and consistent policy direction for redevelopment activities and projects during the next five years through the establishment of a mission statement and guiding principles for the Agency, . Reduce confusion about the functional structure of redevelopment, including the various redevelopment project areas in the City of Chula Vista, Set forth strategic and programmatic objectives and work plans for the next five years that seek to: - Ensure the financial viability and effectiveness of the Agency - Faciiitate key catalyst projects and public improvements that are consistent with adopted land use plans and policies - Eliminate blight and create important affordable housing opportunities An important focus of the Five Year Implementation Plan was the creation of new dwelling units and Tax Increment revenues along the City's downtown Third Avenue business corridor, which is contained in the Town Centre I Redevelopment Project Area. To facilitate this objective, the CVRC entered into Exclusive Negotiating Agreements (ENAs) with five different developers for six separate development sites during the fiscal year ended June 30, 2006, The potential development of these sites will create needed densities in the City's urban core and important Tax Increment revenues that can be leveraged toward the creation of affordable housing and needed public improvements, In addition to these ENAs, some of the Redevelopment Agency highlights for fiscal year 2006 include the following:' , Completion of Phase II of the Gateway project, a six-story Ciass 'A" bUilding containing more than 1,32,000 square feet of commercial and professional office space . Compietion and opening of three new auto dealerships in the Otay Valley Redevelopment Project Area: Chula Vista Toyota Dealership Payless Car Sales Dealership Chrysler-Dodge-Jeep Dealership . Construction of South Bay Motor Sports Ongoing joint pianning efforts by the Redevelopment Agency, City of Chuia Vista, and Unified Port of San Diego on the Bayfront Master Plan REQUEST FOR INFORMATION This financial report is designed to provide our citizens, taxpayers, creditors and investors with a general overview of the Agency's finances, and to show the City's accountability for the money it receives, Questions concerning any of the information provided in this report or requests for additional information should be addressed to the City of Chuia Vista, Finance Department, 276 Fourth Avenue,Chuia Vista, CA 91910, 6 This page has been left blank intentionally. 7 REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA Statement of Net Assets June 30, 2006 Governmental Activities Assets Current assets: Cash and investments Receivables: Taxes Interest Loans Other Land held for resale Restricted cash and investments Held by City of Chula Vista Held by fiscal agents Capital Assets: Nondepreciable assets Depreciated capital assets, net of accumulated depreciation Total assets Liabilities Current liabilities: Accounts payable and accrued liabilities Interest payable Due to City ofChula Vista Unearned revenue Non-current liabilities: Due within one year Due in more than one year $ 6,836,395 243,563 40,965 13,514,238 507,253 2,260,925 4,467,812 8,062,439 7,617,884 1,770,313 45,321,787 895,059 837,165 973,478 80,413 Total liabilities 1,120,000 69,042,312 72,948,427 Net Assets Investments in capital assets Restricted for: Capital projects Community development Unrestricted 9,388,197 Total net assets (deficit) 6,909,674 20,056,877 (63,981,388) $ (27,626,640) See accompanying notes to fmancial statements. 8 REDEVELOPMENT AGENCY OF THE CITY OF CHULA V1STA Statement of Activities For the Year Ended June 30, 2006 $ 9,637,287 $ 111,427 4,240,997 FunctionsiProlITams Expenses Goverm:i1ental activities: General government Interest on long-term debt Total governmental activities Program Revenue Charges for Services $ 13,878,284 $ 11],427 General revenues: Property taxes Interest earnings Miscellaneous Transfer to City of Chula Vista Total generaL revenues and transfers Change in net assets Net assets (Deficit).- beginning of year, as restated Net assets (Deficit) - end of year See accompanying notes to fmancial statements. 9 Net (Expense) Revenue and Changes in Net Assets Govermnental Activities $ (9,525,860) (4,240,997) (13,766,857) ]0,404,88] 2,273,049 55,748 (1,300,186) ] ],433,492 (2,333,365) (25,293,275) $ (27,626,640) REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA Balance Sheet Governmental Funds June 30, 2006 Assets Cash and investments Taxes receivable Interest receivable Loans receivable Other receivables Due from other funds Advances to other funds Land held for resale Restricted cash and investments held by City of Chula Vista held by fiscal agent Total assets Liabilities and Fund Balances Liabilities: Accounts payable and accrued liabilities Due to other funds Due to the City of Chula Vista Advances from other funds Deferred revenue Total liabilities Fund balances: Reserved for: Encumbrances Loans receivables Low and moderate income housing Advances Housing program Land held for resale Debt service Total reserved Unreserved: Designated Undesignated Total unreserved Total fund balances (deficit) Total liabilities and fund balances See accompanying notes to financial statements. 10 Special Revenue Low and Moderate Chula Vista Income RDA Housing Housing Housing Program Authority $ 3,861,931 $ 58,113 47,289 17,578 $ 258 812 11,249,903 2,264,335 1,302 25 415,198 4,052,614 $ 15,593,201 T 6,317,232 $ 58,925 $ 57,999 $ 98,169 1,500,961 196,427 1,558,960 294,596 13,455 9,748,943 2,067,933 4 271,843 3,954,703 14,034,241 6,022,636 $ 58,925 58,925 14,034,241 6,022,636 58,925 $ 15,593,201 $ 6,317,232 $ 58,925 Debt Service Capital Projects Town Centre II Town Centre II Otay Valley Otay Valley BayfrontJ Southwest Bayfrontl Southwest Town Centre 1 Merged Projects Town Centre 1 Merged Projects Total $ 1,374,261 $ 825,463 $ 3,848 $ 712,779 $ 6,836,395 44,870 151,404 243,563 5,879 3,144 12 13,282 40,965 13,514,238 2,409 503,517 507,253 1,317,221 1,317,221 5,206,959 5,206,959 2,260,925 2,260,925 4,467,812 2,560,382 5,502,057 8,062,439 $ 3,940,522 $ 828,607 $ 7,519,023 $ 8,200,260 $ 42,457,770 $ 46,809 $ 790,251 $ 895,059 1,219,052 1,317,221 973,478 973,478 $ 5,206,959 5,206,959 632,116 500,335 2,829,839 5,206,959 2,871,455 1,290,586 11,222,556 156,683 108,576 278,714 11,816,876 4,271,843 4,574,843 4,574,843 3,954,703 2,260,925 2,260,925 $ 3,940,522 828,607 4,769,129 3,940,522 828,607 6,992,451 108,576 31,927,033 6,801,098 6,860,023 (5,206,959) (2,344,883) (7,551,842) (5,206,959) (2,344,883) 6,801,098 (691,819) 3,940,522 (4,378,352) 4,647,568 6,909,674 .31,235,214 $ 3,940,522 $ 828,607 $ 7,519,023 $ 8,200,260 $ 42,457,770 11 This page has been left blank intentionally. 12 REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA Reconciliation of Governmental Funds Balance Sheet to the Statement of Net Assets June 30, 2006 Fund balances for governmental funds Amounts reported for governmental activities in the Statement of Net Assets are differelit because: Capital assets used in governmental activities are not CUlTent resources. 111erefore, they were not reported in the Governmental FUl1ds Balance Nondepreciable capital assets Depreciable capital assets Total capital assets $ 7,617,884 1,770,313 Deferred revenues which are deferred because they are not available currently are taken into revenue in the Statement of Activities and, accordingly, increases the net assets on the Statement 'ofNet Assets. Interest payable on long-term debt does not require CUlTent fmancial resources. 111erefore, interest payable is not reported as a liability in Governmental Funds Balance Sheet. Long-term liabilities are not due and payable in the current period. 111erefore, they were not reported in the Governmental Funds Balance Sheet. The long-term liabilities were adjusted as follows: Long-tenn liabilities - due within one year $ (1,120,000) Long-tenn liabilities - due in more than one year (69,042,312) Net assets of governmental activities See accompanying notes to fmandal statements. 13 $ 31,235,214 9,388,197. 2,749,426 (837,165) (70,162,312) $ (27,626,640) REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds For the Year Ended June 30, 2006 Special Revenue Low and Moderate Chula Vista Income RDA Housing Housing Housing. Pro granl Authority Revenues: Taxes $ 1,968,228 Use of money and property 133,886 $ 49,719 $ 4,070. Other 6,965 826 44,276 Total Revenues 2,109,079 50,545 48,346 Expenditures: Current: General government 818,028 153,819 Capital outlay 7,821 96,712 Debt service: Principal Interest and fiscal charges Total Expenditures 825,849 250,531 Excess (Deficiency) of Revenues Over (Under) Expenditures 1,283,230 (199,986) 48,346 Other fmancing sources (uses): Issuance of debt Cash advances from the City of Chula Vista Transfers from the City of Chula Vista 3,039 999 Transfers to the City of Chula Vista (3,404) (147,000) Transfers in Transfers out . Total Other Financing Sources (uses) (365) 999 (147,000) Net Change in Fund Balances 1,282,865 (198,987) (98,654) Fund Balances (Deficit), Beginning of year, as restated 12,751,376 6,221,623 157,579 Fund Balances (Deficit), End of year $ 14,034,241 $ 6,022,636 $ 58,925 See accompanying notes to fmancial statements. 14 Debt Service Town Centre II Otay Valley Bayfront! Southwest Town Centre I Merged Projects Capital Projects Town Centre II Otay Valley Bayfront! Southwest Town Centre I Merged Projects Total $ 2,326,993 194,977 $ 1,257,866 14,894 $ 1,215,097 443,094 83,798 1,741,989 $ 3,636,696 288,081 2,521,970 1,272,760 3,924,777 $ 10,404,880 1,128,721 135,865 1I ,669,466 14,256 3,525 4;168,113 3,611,697 8,769,438 432,767 47i,753 1,009,053 597,830 402,170 1,000,000 2,146,601 2,072,401 18,699 10,935 4,248,636 2,758,687 2,478,096 4,619,579 4,094,385 15,027,127 (236,717) (1,205,336) (2,877,590) (169,608) (3,357,661) 586,769 343,231 930,000 201,805 1,954,643 2,156,448 2,737 9,118 15,893 (1,137,398) (18,065) (10,213) (1,316,080) 1,081,009 251,854 1,332,863 (251,854) (1,081,009) (1,332,863) (50,049) 1,898,254 823,295 (738,873) 1,786,261 (286,766) 692,918 (2,054,295) (908,481) (1,571,400) 4,227,288 (5,071,270) 6,701,863 7,818,155 32,806,614 $ 3,940,522 $ (4,378,352) $ 4,647,568 $ 6,909,674 $ 31,235,214 15 This page has been left blank intentionaJly. 16 REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA Reconciliation of the Statement of Revenues, Expenditures and Changes" in Fund Balances of Govemmental Funds to the Statement of Activities For the Year Ended june 30, 2006 Net change in fund balances - total governmental funds: Amounts reported for governmental activities in the Statement of Activities are different because: Deferred revenue does not provide for current financial resources and therefore are not repOlted as revenues in the govemmental funds. Governmental Funds report capital outlay as expenditures. However, ill the Statement of Activities the costs of these assets is allDcated Dver their estimated useful lives and reported as depreciation expense. 111is is the anlount the capital Dutlay exceed depreciation. Capital outlay Depreciation 193,367 (52,163) LDng-term debt proceeds provide current fll1811Cial resDurces tD Govemmental Funds, but issuing debt increases long-term liabilities in the Govemment- Wide Statement of Net Assets. Repayment of bond principal is an expenditure in GDvernmental Funds, but the repayment reduces long- term liabilities in the Government-Wide Statement of Net Assets. Proceeds from long-te1m debt Long-tenn debt repayments (3,086,448) 1,000,000 Interest expense Dn long-teml debt is reported in the Government-Wide Statement of Activities and Changes in Net Assets, but does not require the use of current fmancial resources. Therefore, interest expense is not reported as expenditures in gDve"mmental funds. 111e following 81nount representing the change in accrued interest from prior year. Change in net assets of governmental activities See accDmpanying nDtes tD financial statements. 17 $ (1,571,400) 1,175,639 141,204 (2,086,448) 7,640 $ (2,333,365) This page has been left blank intentionally. 18 REDEVELOPMENT AGENCY OF lliE CITY OF CHULA VISTA Notes to Financial Statements June 30, 2006 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following is a summary of the significant accounting policies of the Redevelopment Agency of the City of Chula Vista (Agency): A. Reporting Entity The Agency is a blended component unit of the City of Chula Vista. The City of Chula Vista City Council created the Agency in October 1972. The primary purpose of the Agency is to eliminate blighted areas by encouraging the development of residential, co=ercial, industrial, recreational and public facilities. The BayfronVTowne Centre I Project encompasses approximately 775 acres and its general objective is to redevelop the Bayfront area and central business . district. The Merged Redevelopment Project encompasses approximately 2,456 acres. Its general goal is to revitalize the area into a principal regional shopping center and to upgrade the co=ercial, industrial, residential properties and rights-of-way at' a more rapid pace than would occur without the redevelopment plan. The Agency is an integral part of the reporting entity of the City of Chula Vista The basic financial statements of the Agency have been included within the basic financial statements of the City because the City Council of the City of Chula Vista is the governing board over the operations of the Agency. B. Gove=ent-Wide Financial Statements The gove=ent-wide frnancial statements (i.e., the statement of net assets and the statement of activities) report infOlmation on all of the activities of the Agency. For the most part, the effect of the interfund activity has been removed from these statements. The statement of activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include charges for services and grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other ,items not properly included among pro gram revenues are reported instead as general revenues. Separate financial statements are provided for gove=ental funds. Major individual govemmental funds are reported as separate columns in the fund financial statements. 19 REDEVELOPMENT AGENCY OF THE CITY OFCHULA VTSTA Notes to Financial Statements (Continued) June 30, 2006 C. Measurement Focus, Basis of Accounting, and Financial Statement Presentation 1. Basis of Accounting The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. wherein revenues are recorded when they are both. earned and realized, regardless of the timing of the related cash flows. Govel=entalfund statements are reported using the modified accrual basis of accounting wherein revenues are recognized as soon as they are both measurable and available as a resource to finance operations of the current year. Expenditures are recorded when incurred except that interest on long-term debt is recorded as an expenditure on its due date. The financial statements have been prepared in accordance with generally accepted accounting principles and necessarily include amounts based on estimates and assumptions by management. Actual results could differ from those amounts. 2. Tax increment revenue The law provides a means for financing redevelopment projects based upon an allocation of taxes collected within a redevelopment project. The assessed valuation of a redevelopment project last equalized prior to adoption of a redevelopment plan or amendment to such redevelopment plan, or "base roll", is established and, except for any period during which the assessed valuation drops below the base year level, the taxing bodies thereafter receive the taxes produced by the levy of the current tax rate upon the base roll. Taxes collected upon any increase in assessed valuation over the base roll ("tax increment") are paid and may be pledged by a redevelopment agency to the repayment of any indebtedness incurred in financing or refinancing a redevelopment project. Redevelopment agencies themselves have no authority to levy propeliy taxes. 3. Description offunds The Agency reports the following major governmental funds: Low and Moderate Income Housing Special Revenue FUnd is used to account for the 20% portion of the Agency's tax increment revenue that is required to be set aside for low and moderate income housing and related expenditures. 20 REDEVELOPMENT AGENCY OF TIffi CITY OF CHULA VISTA Notes to Financial Statements (Continued) June 30, 2006 RDA Housing Program Special Revenue Fund is used to account for specific revenue that is required to be used for low and moderate income housing and related expenditures. Chula Vista Housing Authority Special Revenue Fund is used to account for specific revenue that is required to be used for low and moderate income housing and related expenditures. Bavfront/Town Centre I Debt Service Fund is used to account for the payment of interest and principal on long-term debt, and the accumulation of resources thereof associated with the Bayfront and Town Centre I Project Areas. Town Centre IlIOtay Valley/Southwest Merged Proiects Debt Service Fund is used to account for the payment of interest and. principal on long-term debt, and the accumulation of resources thereof associated with the Town Centre II, Otay Valley Road, and Southwest Merged Project Areas. Bavfront/T own Centre I Capital Proi ects Fund is used to account for the financial resources used in developing the Bayfront and Town Centre I Project Areas. Town Centre IlIOtay Vallev/Southwest Merged Proiects Capital Proiects Fund is used to account for the financial resources used in developing the Town Centre II, Otay Valley Road, and Southwest Merged project areas. II. STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY A. Budgetary Accounting An annuiu budget is adopted by the Board of Directors prior to the first day of the fiscal year. The budget process includes submittal of each department's budget request for the next fiscal year, a detailed review of each department's proposed budget by the Executive Director, and a final Executive Director reco=ended budget that is transmitted to the Board of Directors for its review before the required date of adoption. Once transmitted to the Board of Directors, the proposed budget is made available for public inspection. A public hearing is held to give the public the opportunity to co=ent upon the proposed budget. Notice of such public hearing is given in a newspaper of general circulation. The adoption of the budget is accoPlplished by the approval of a Budget Resolution. The level of budgetary control, that is, the level at which expenditures are not to exceed Council approved appropriations, is established by department at the category level. Any budget modification, which would result in an appropriation increase, requires Board of Directors' approval. The Executive Director and Finance Director are jointly authorized to transfer appropriations within adepartmental budget. Any appropriation 21 REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA Notes to Financial Statements (Continued) June 30, 2006 tranJifers between departments require Board of Directors' approval. All appropriations which are not obligated, encumbered or expended at the end of the fiscal year lapse become a part of the unreserved fund balance which may be appropriated for the next fiscal year. . An annual budget for the year ended June 30, 2006 was adopted and approved by the Board of Directors for the special revenue and debt service funds. These budgets are prepared on. the modified accrual basis of accounting except that encumbrances outstanding at year-end are considered as expenditures. The budgets of the capital projects funds are primarily long-term budgets, which emphasize major programs and capital outlay plans extending over a number of years. Due to the long-term nature of these projects, annual budget comparisons are not considered meaningful, and, accordingly, no budgetary information for capital projects funds is presented. . B. Deficit Fund Balance The Town Centre II10tay Valley/Southwest Merged Projects Debt Service Fund has a deficit fund balance of $4,378,352. This deficit is expected to be eliminated with future tax revenues. III. DETAILED NOTES ON ALL FUNDS A. Cash and Investments . Cash and investments at June 30, 2006 consisted of the following: Cash and investments pooled with the City Restricted cash and 'investments Cash and investments with fiscal agelits $ 6,836,395 4,467,812 8,062,439 Total cash and investments $ 19,366,646 The Agency has pooled its cash and investments with the City in order to achieve a higher return on investment. Certain restricted funds, which are held and invested by independent outside custodians through contractual agreements, are not pooled. These restricted funds include cash with fiscal agents. . The investments made by the Agency are limited to those allowable under State statutes and include the following types of investments: . U.S. Government SecUlities . Bankers' Acceptances 22 REDEVELOP:MENT AGENCY OF THE CITY OF CHULA VISTA Notes to Financial Statements (Continued) June 30, 2006 . Commercial Paper . Medium-Term Notes . Repurchase Agreements . . Deposits with Banks . State of California Local Agency Investment Fund See the City's Comprehensive Annual Financial Report for disclosures related to cash and investments and the related custodial risk categorization. B. Land Held for Resale Land held for resale is recorded in the Bayfront/Town Centre I Capital Projects Fund at the lower of cost or estimated net realizable value. The available fund balance is reserved in an amount equal to the carrying value of land and buildings held for resale because such assets are not available to finance the Agency's current operations. The amount recorded as assets held for resale and the corresponding fund balance reserved as ofJune 30, 2006 was $2,260,925. C. Loans Receivable At June 30, 2006, the Agency had the follovving loans receivable, including principal and accrued interest: South Bay Community Services South Bay Community Villas, L.P. Chula Vista Rehabilitation CHIP Loans Civic Center Barrio Housing Corporation Loan Rancho Vista Housing Mobile Home Assistance Programs Chelsea Investment Corporation/Sunbow Services Alpha ill Developmel1t Inc. (Main Plaza, L.P.) Total $ 1,058,782 5,001,709 2,264,335 242,844 1,042,658 55,952 2,280,479 1,567,479 $ 13,514,238 South Bav Community Services The Agency entered into a loan agreement with South Bay Community Services, a California non-profit public benefit corporation. The loan amount of $478,200 was made to enable South Bay Community Services to develop a 40-unit affordable multi- family housing rental project to provide housing to low income families. The note is secured by a deed of trust on certain property and assignments of rents. Interest accrues annually at 3% of the unpaid principal balance of the note. J:nterest of $87,951 has been deferred at June 30, 2006. The outstanding balance is $566, 15l. 23 REDEVELOP:M:ENT AGENCY OF THE CITY OF CHULA VISTA Notes to Financial Statements (Continued) June 30, 2006 The Agency entered into a loan agreement with South Bay Connunity Services for the acquisition of property located at 1536 Concord Way for a domestic violence shelter site, other transitional living programs or housing for very low income families. The loan is secured by a deed of trust and a promissory note for the properties on behalf of the Agency. Repayment of the loan is limited to annual payment based on residual receipts. Interest of $16,724 has been deferred at June 30, 2006. The outstanding balance is $53,519. . The Agency entered into a $300,000 loan agreement with South Bay Connunity Services for the acquisition of a real property at 746 Ada Street, and improving it with a multi-family residential project consisting of 11 units. These units, called the Trolley Trestle, will provide affordable housing for low income young adults who have completed the County of San Diego Foster Care program. The loan is secured by a Deed of Trust and Security Agreement and will accrue 3% interest. Payment of principal and interest will be made from 50% ofresidual receipts for 55 years. Interest of $66,112 has been deferred at June 30, 2006. The outstanding balance is $439,112. South Bav Connunitv Villas. L.P. The City entered into a loan agreement with South Bay Connunity Villas, L.P. for the development of the Heritage Town Center multi-family rental housing project. Agency assistance is in the form of residual receipt loan secured by a promissory note and deed of trust. The outstanding principal and interest on the loan will be repaid over fifty five years and shall accrue interest at 3% per annum. Payment of principal and interest on the Agency loan shall be made on an annual basis, out of a fund equal to fifty percent of the net cash flow of the project (residual receipts) after debt service on bonds, payment of deferred developers fee, and reasonable operating expense have been paid. Interest of $601,7D9 has been deferred at June 30, 2006. The. outstanding balance is $5,001,709. Chula Vista Rehabilitation CHIP Loans The Chula Vista Rehabilitation Connunity Housing Improvement Program (CHIP) is under the direct control of the Agency. CHIP offers deferred and low interest rate home improvement loans to qualified borrowers residing within a target area.. Loan repayments are re-deposited into the program cash ac.counts and are redistributed as future loans. The program was originally funded entirely vvith Connunity Development Block Grant Federal funds. In recent years, the Agency began. supplementing the program due to decreased availability of Federal grants. Interest of $196,402 was deferred as of June 30, 2006. The outstanding balances of the CHIP loans are $2,264,335. 24 REDEVELOPMENT AGENCY OF THE CITY OF CHOLA VISTA Notes to Financial Statements (Continued) June 30, 2006 Civic Center Barrio Housing Corporation Loan. In 1991, the Agency entered into a loan agreement with the Civic Center Barrio Housing Corporation, a California non-profit public benefit corporatiDll. The loan was made for the purchase of land and the development of a 28-unit low income housing project. During 1992, the loan was assigned to Park Village Apartments Ltd., a California limited partnership in which Civic Center Barrio Housing Corporation is the managing general partner. The loan is secured by a deed of trust on the property and assignment of rents: Principal and interest are payable monthly. Interest accrues annually at 5% of the unpaid principal balance of the note. The outstanding balance is $242,844. Rancho Vista Housing . The Agency has loaned $1,000,000 to CIC Eastlake, 1.P. for the development and operation of Rancho Vista Housing project, a multifamily affordable housing project. The loan is secured by promissory notes and deeds of trust. The outstanding principal and interest amount of the loan shall be repaid over fifty-five (55) years and shall accrue at the simple interest rate of three (3%) percent per annum. Payment of principal and interest, or portions thereof, on the loan shall be made on an annual basis, out of a fund equal to fifty (50%) percent of the net cash flow of the project. Interest of $42,658 has been deferred at June 30, 2006. The outstanding balance is $1,042,658. Mobile Home Assistance Programs The Agency entered into ~"Teements with eligible residents of the Orange Tree Mobile Home Park, whereby the Agency loaned $250,030 as permanent financing assistance to residents for the purpose of purchasing certain mobile home property. The loans are secured by deeds of trust on the property and mature in 2017 or when the property is sold. Contingent interest 'Will be charged based on calculations specified in the agreement. The outstanding balance is $55,952. Chelsea Investment CoroorationlSunbow Services Co.. LLC The Agency entered into a residual receipts loan agreement with Chelsea Investment CorporationlSunbow Services Company, LL(; for the development of the proposed 132 unit Villa Serena senior affordable housing project. The loan amount of $275,000 was funded by the Agency's Low & Moderate Income Housing Fund. Terms of the loan villI be for 52 years at 6% per annum. Principal and interest payments will be made on an annual basis out of a fund equal to 90% of the "Residual Receipts." Interest of $117,058 has been deferred at June 30, 2006. The outstanding balance is $392,058. The Agency entered into a loan agreement with Chelsea Investment Corporation for the acquisition and rehabilitation of the 119- unit Pear Tree Apartments at 1025 Broadway. All units will be affordable to low income households. The loan is secured by'a deed of 25 REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA Notes to Financial Statements (Continued) June 30,2006 trust and will accrue 6% interest for 52 years. Payment of principal and interest shall be made on an annual basis out of a fund equal to 90% of the residual receipts. Interest of $501,269 has been deferred at June 30, 2006. The outstanding balance is $1,888,421. . Aloha III Develooment Inc (Main Plaza. L.P.) The Agency entered into a loan agreement with Main Plaza; LP (Borrower) to assist the borrower in acquiring and improving certain real property for occupation by very low, lower and low and moderate income households. The total loan amount is $1,500,000. The loan bears an interest rate of 3 % per annum. The loan shall be due and payable on the date that is 55 years from the date of the Agency's issuance of the Certificate of Completion. Interest of $67,479 was deferred as of June 30, 2006. The outstanding balance is $1,567,479. D. Capital Assets Changes in capital assets during the year ended June 30, 2006 were as follows: Capital Assets Not Being Depreciated: Land $ 7,424,517 $ 193,367 Balance July 1, 2005 Additions Deletions Balance June 30, 2006 $ 7,617,884 Total Capital Assets Not Being Depreciated 7,424,517 193,367 7,617,884 . Capital Assets Being Depreciated: Buildings Machinery and equipment 2,608,126 308,873 2,608,126 308,873 Total Capital Assets Being Depreciated 2,916,999 2,916,999 Less: Accumulated Depreciation (1,094,523) (52,163) (1,146,686) Total Capital Assets Being Depreciated, Net 1,822,476 (52,163) 1,770,313 Total Capital Assets $ 9,246,993 141,204 $ $ 9,388,197 Depreciation expense of $52,163 was charged to general gove=ent. 26 REDEVELOFMENT AGENCY OF TIffi CITY OF CHULA VISTA Notes to Financial Statements (Continued) June 30, 2006 Long- Term Debt The following is a summary of changes in long-term liabilities for the year ended June 30,2006: Balance Balance Due Within 7/1/2005 · Additions Deletions June 30, 2006 One Year ERAF Loan - 2005 $ 765,000 $ 55,000 $ 710,000 $ 65,000 ERAF Loan - 2006 $ 930,000 930,000 60,000 Advances from the City of Chula Vista 26,070,864 2,156,448 28,227,312 Tax allocation bonds 41,240,000 945,000 40,295,000 995,000 Total $ 68,075,864 $ 3,086,448 $ 1,000,000 $ 70,162,312 $ 1,120,000 * As restated. See Note III F. ERAF Loan - 2005 In May 2005, the Agency participated in a $765,000 Loan Agreement with the California Statewide Co=unities Development Authority to finance their 2005 share ofERAF Payments to the County Auditor. The annual debt service is: Year Ending June 30, Principal Interest Total 2007 $ 65,000 $ 34,438 $ 99,438 2008 70,000 31,752 101,752 2009 70,000 28,704 98,704 2010 75,000 25,570 100,570 2011 80,000 22,118 102,118 2012-2015 350,000 49,116 399,116 Total $ 710,000 $ 191,698 $ 901,698 ERAF Loan - 2006 In May 2006, the Agency participated in a $930,000 Loan Agreement with the Califomia Statewide Cornniunities Development Authority to finance their 2006 share ofERAF Payments to the County Auditor. The annual debt service is: 27 REDEVELOPMENT AGENCY OF TIffi CITY OF CHULA VISTA Notes to Firumcial Statements (Continued) June 30, 2006 Year Ending June 30, Principal Interest Total 2007 $ 60,000 $ 64,938 $ 124,938 2008 80,000 49,256 129,256 2009 80,000 44,972 124,972 2010 85,000 40,632 125,632 2011 90,000 35,996 125,996 2012-2016 535,000 99,098 634,098 Total $ 930,000 .$ 334,892 $ 1,264,892 Advances from the City of Chula Vista As of June 30, 2006, the City has advanced the Agency $28,227,312 to help fund capital projects and debt service payments. There are no set repayment terms in relation to these advances. Interest is calculated based on the LAIF average animal yield at the time the a:dvance is made. Tax Allocation Bonds 1994 Senior Tax Allocation Refundine: Bonds. Series A In November 1994, the Agency issued $14,810,000 1994 Senior Ta.x Allocation Refunding Bonds, Series A, to refund the 1986 Tax Allocation Bonds. The bonds consist of $1,585,000 serial bonds which mature from 1998 to 2004 in amounts ranging from $185,000 to $275,000 and $12,885,000 term bonds which mature in 2024. Interest is payable semi-annually on March 1 and September 1, at interest rates ranging from 5.85% to 7.625%. Bonds maturing on or after September 1, 2006, are subject to optional redemption on any interest payment date on or after September I, 2006, at various redemption prices. The balance outstanding as of June 30, 2006 was $12,590,00'0. The annual debt service requirements for the 1994 Senior Tax Allocation Refunding Bonds, Series A outstanding at June 30, 2006 was as follows: 28 REDEVELOPMENT AGENCY OF TIffi CITY OF CHlJLA VISTA Notes to Financial Statements (Continued) June 3D, 2006 Year Ending June 3D, Principal Interest Total 2007 $ 315,000 $ 947,978 $ 1,262,978 2008 340,000 923,006 1,263,006 2009 365,000 896,128 1,261,128 2010 395,000 867,153 1,262,153 2011 425,DOO 835,891 1,26D-,891 2012-2016 2,655,000 3,622,065 6,277,065 2017-2021 3,835,000 2,397,872 6,232,872 2022-2025 4,260,000 679,387 4,939,387 Total $ 12,590,000 $ 11,169,480 $ 23,759,480 1994 Senior Ta.x Allocation Refunding; Bonds, Series D In February 1996, the Agency issued $5,680,000 1994 Senior Tax Allocation Refunding Bonds, Series D, to refund the Agency's Bayfront/Town Centre Redevelopment Project 1994 Senior Tax Allocation Refunding Bonds, Series B. The 1994 Bonds, Series B, were paid off with the bond proceeds. The bonds are term bonds, which mature in 2024, Interest is payable semi~annually on March 1 and September 1 at 8.625%, The bonds are subject to redemption prior to maturity on any interest payment date, on or after September 1, 2006, at various redemption prices, The bonds are subj ect to mandatory sinking fund redemption prior to maturity, in part, by lot on September 1, 1997, and 011 each September 1 thereafter, without premium, from 1988 to 2024 in amounts ranging from $60,000 to $495,000. The balance outstanding at June 3D, 2006 was $4,945,000, The annual debt service requirements outstanding at June 3D, 2006 were as follows: Year Ending June 3D, Principal Interest Total 2007 $ 11 0,000 $ 421,762 $ 531,762 2008 120,000 411,844 531,844 2009 BO,OOO 401,062 531,062 2010 145,000 389,203 534,203 2011 155,000 376,266 531,266 2012-2016 1,005,000 1,645,004 2,650,004 2017-2021 1,520,000 1,108,312 2,628,312 2021-2025 1,760,000 318,694 2,078,694 Total $ 4,945,000 $ 5,072,147 $ 10,017,147 29 REDEVELOPME1\'T AGENCY OFTHE CITY OF CHULA VISTA Notes to Financial Statements (Continued) June 30, 2006 1994 Subordinate Tax Allocation Refunding Bonds, Series C In November 1994, the Agency issued $8,195,000 1994 Subordinate Tax Allocation. Refunding Bonds, Series C, to refund the 1986 Tax Allocation Bonds. The bonds consist of $930,000 serial bonds which mature from 1998 to 2004 in amounts ranging from $100,000 to $145,000 and term bonds of $2,255,000 and $4,925,000 which mature in 2014 and 2024, respectively, Interest is payable semi-annually on May 1 and November 1 at interest rates ranging from 5.95% to 8.25%. The bonds are subject to optional redemption -on any interest payment date on or after May 1, 2006 at various redemption prices. The balance outstanding at June 30, 2006 was $6,855,000. The annual debt service requirements outstanding at June 30, 2006 were as follows: Year Ending June 30, Principal Interest Total 2007 $ 180,000 $ 560,712 $ 740,712 2008 195,000 546,313 741,313 2009 210,000 530,713 740,713 2010 230,000 513,913 743,913 2011 250,000 495,513 745,513 2012-2016 1,565,000 2,145,927 3,710,927 2017-2021 2,320,000 1,390,127 3,710,127 2022-2025 1,905,000 322,576 2,227,576 Total $ 6,855,000 $ 6,505,794 $ 13,360,794 2000 Tax Allocation Bonds In October 2000, the Agency issued $17,000,000 2000 Tax Allocation Bonds, to provide funds to fund a reserve account, to pay expenses of the Agency in connection with the issuance of the bonds and to finance or refinance certain redevelopment activities. The bonds consist of $9,535,000 serial bonds which mature from 2001 to 2030 in amounts ranging from $100,000 to $715,000 and term bonds of $1,440,000 and $6,025,000 which mature in 2022 and 2029, respectively, Interest is payable semi- annually on March 1 and September 1 at interest rates ranging from 4.30% to 5.375%. The bonds are subject to optional redemption on any interest payment date on or after September 1, 2004, at various redemption prices. The balance outstanding at June 30, 2006 was $15,905,000. 30 REDEVELOPMENT AGENCY OF THE CITY OF CHlJLA VISTA Notes to Financial Statements (Continued) June 30, 2006 The annual debt service requirements for the 2000 Tax Allocation Bonds outstanding at June 30, 2006 were as follows: Year Ending JWle 30, Principal Interest 2007 $ 390,000 $ 804,698 2008 405,000 787,605 2009 425,000 769,760 2010 440,000 750,943 2011 460,000 730,913 2012-2016 2,590,000 3,302,989 2017-2021 3,015,000 2,605,368 2022-2026 3,905,000 . 1,694,584 2027-2031 4,275,000 538,441 Total $ 15,905,000 $ 11,985,301 E. Commitments and Contingencies Total $ 1,194,698 1,192,605 1,194,760 1,190,943 1,190,913 5,892,989 5,620,368 5,599,584 4,813,441 $ 27,890,301 The General Fund of the City has loaned approximately $537,913 to the Agency for unreimbursed services rendered by City staff. It is anticipated that the Agency will repay this loan from tax increment revenues. Currently, tax increment revenues are used to pay for related debt service expenditw'es and possible future debt issuance. As a result, the Agency is uncertain if the amount ",ill be repaid to the City's General Fund. Accordingly, this contingent payable has Dot been reported in accompanying basic financial statements. The Agency will record the contingent payable when payment is assured. F. Restatement of Fund BalancelNet Assets An inventory of Land Held for Resale was performed by the Agency during the year ended June 30, 2006, which resulted in the following restatements of Fund Balance and Net Assets of $5,105,729. Fund. balance has been restated to remove advances of $26,070,864 from the City at June 30, 2005 which should not have been a fund liability. 31 REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA. . Notes to Financial.Statements (Continued) June 30, 2006 Fund Balance Bayfront/Town Centre I Debt Service Fund Fund balance as of June 30, 2005 as previously reported Restatement - Advances $ . (21,806) 4.249.094 Fund balance as of June 30, 2005 as restated $ 4.227.288 Town Centre II10tay Valley/Southwest Merged Projects Debt Service Fund Fund balance as of June 30, 2005 as previously repolied Restatement - Advances $ (26,893,040) 21.821.770 Fund balance as of June 30, 2005 as restated. $ (5.071.270) BayfrontITown Centre I Capital Projects Fund Fund balance as of June 30, 2005 as previously reported Restatement - Land $ 11,807,592 (5.105.729) Fund balance as of June 30, 2005 as restated $ 6.701.863 Net Assets Net assets as of June 30, 2005 as previously reported Restatement - Land $ (20,187,546) (5.105.729) Net assets as of June 30, 2005 as restated $ (25293.275) 32 REDEVELOPMENT AGENCY OF THE CITY OF CHlJLA VISTA Notesto Financial Statements (Continued) June 30, 2006 TV. Subsequent Event On July I, 2006, senior tax allocation refunding bonds, series A in the amount of $13,435,000 were issued to refinance the Agency's outstanding 1994 Senior Tax Allocation Refunding Bonds, series A, to satisfy the reserve requirement and to provide for the costs of issuing the bonds. Interest on the bonds accrues at 4.50% to 4.60% and is payable semiannually on September I and March 1. Principal is payable each year on September 1. On July I, 2006; senior tax allocation refunding bonds, series B in the amount of . $12,325,000 were issued to refinance the Agency's outstanding 1994 Senior Tax Allocation Refunding Bonds, series C and D, to satisfy the reserve requirement and to provide for the costs of issuing the bonds. Interest on the bonds accrues at 5.125% to 6.0% and is payable semiannually on October I and April I. Principal is payable each year on October 1. The bondS are secured by a pledge of certain tax increment revenues. 33 This page has been left blank intentionally. 34 REQUIRED SUPPLEM:ENTARY INFORMATION 35 REDEVELOPMENT AGENCY OF mE CITY OF CHULA VISTA Low and Moderate Income Housing Special Revenue Fund BudgetaIy Comparison Schedule For the Year Ended June 30,2006 REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA RDA Housing Program Special Revenue Fund Budgetary Comparison Schedule For the Year Ended June 30, 2006 See Accompanying Note to Required Supplementary Information. 37 REDEVELOPMENT AGENCY OF TIrE CITYOF CHULA VISTA Chula Vista Housing Authority Special Revenue Fund Budgetary Comparison Schedule For the Year Ended June 30, 2006 See Accompanying Note to Required Supplementary Infonnation. 38 REDEVELOPMENT AGENCY OF TIffi CITY OF CHULA VISTA Required Supplementary Information For the Year Ended June 30, 2006 1. BUDGETS AND BUDGETARY ACCOUNTING An annual budget is adopted by the Board of Directors prior to the first day of the fiscal year. The budget process includes submittal of each department's budget request for the next fiscal year, a detailed review of each department's proposed budget by the Executive Director, and a final Executive Director reco=ended budget that is transmitted to the Board of Directors for its review before the required date of adoption. Once transmitted to the Board of Directors, the proposed budget is made available for public inspection. A public hearing is held to give the public the opportunity to co=ent upon the proposed budget. Notice of such public hearing is given in a newspaper of general circulation. The adoption of the budget is accomplished by the approval of a Budget Resolution. The level of budgetary control, that is, the level at which expenditures are not to exceed Council approved appropriations, is established by department at the category level. Any budget modification, which would result in an appropriation increase, requires Board of Directors approval. The Executive Director and Finance Director are jointly authorized to transfer appropriations within a departmental budget. Any appropriation transfers between departments require Board of Directors approval. Reported budget figures are as originally adopted or subsequently amended plus prior year continuing appropriations. All appropriations. which are not obligated, encumbered or expended at the end of the fiscal year lapse become a part of the unreserved fund balance which may be appropriated for the ne);:! fiscal year. An annual budget for the year ended June 30, 2006 was adopted and approved by the Board of Directors for the special revenue and debt service funds. These budgets are prepared on the modified accrual basis of accounting except that encumbrances outstanding at year-end are considered as expenditures. The budgets of the capital projects funds are primarily long-term budgets, which emphasize major programs and capital outlay plans extending over a number of years. Because of the long-term nature of these projects, annual budget comparisons are not considered meaningful, and, accordingly, no budgetary information for capital projects funds is presented. 39 This page has been left blank intentionally. 40 SlJPPLEMENT ARY INFORMATION 41 REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA BayfrontlTown Center I Debt Service Fund Budgetary Comparison Schedule For the Year Ended June 30, 2006 Variance . Final Positive Budget Actual (Negative) Revenues: Taxes $ 2,546,580 $ 2,326,993 $ (219,587) Use of money and property 157,000 194,977 37,977 Total Revenues 2,703,580 2,521,970 . (181,610) Expenditures: Current: General government 16,163 14,256 1,907 Debt service: Principal 570,000 597,830 (27,830) Interest and fiscal charges 2,280,910 2,146,601 134,3 09 Total Expenditures 2,867,073 2,758,687 108,386 Excess (Deficiency) of Revenues Over (Under) Expenditures (163,493) (236,717) (73,224) Other Financing Sources (Uses): Cash advances from the . City of ChuJa Vista 201,805 201,805 Transfers out (251,854) (251,854) Total Other Financing Sources (Uses) (251,854) (50,049) 201,805 Net Change in Fund Balance (415,347) (286,766) 128,581 Fund Balance, Beginning of year, as restated . 4,227,288 4,227,188 Fund Balance, End of year $ 3,811,941 $ 3,940,522 $ 128,581 42 REDEVELOPMENT AGENCY OF TIffi CITY OF CHULA VISTA Town Centre II Otay Valley Southwest Merged Projects Debt Service Fund Budgetary Comparison Schedule For the Year Ended June 30, 2006 43 This page has been left blank intentionally. 44 Moreland & ~ .!FlUX CERTIFIED PUBLIC ACCoUNTP.NTS 1201 DOVE STREET, SUITE 680 NE'WPORT BEACH, CAUFORN1A 92560 {S49) 221-0025 570 RANCHEFlOS DRIVE, SUiiE 260 SAI'Il MARCOS, CA 92069 (760) 752-3390 October 26, 2006 The Board of Directors cifthe Redevelopment Agency of the City ofChula Vista Independent Auditors' Report on Internal Control Over Financial Reporting and on Compliance (Including the Provisions Contained in the Guidelines for Compliance Audits of Redevelopment Agencies) and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards We have audited the financial statements of the governmental activities and each maj or fund of the Redevelopment Agency of the City ofChula Vista (Agency), a component unit of the City of Chula Vista, California as of and for the year ended June 30, 2006, which collectively comprise the Agency's basic financial statements, as listed in the table of contents, and have issued our report thereon dated October 26, 2006. We. conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards. issued by the Comptroller General of the United States. . Internal Control Over Financial Reporting In planning and pel forming our audit, we considered the Agency's internal control over financial reporting in order to determine our auditing procedures for the pUl-pose of expressing our opinions on the basic financial statements and not to provide an opinion on the internal control over financial reporting. Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the inteIIial control that might be material weaknesses. A material weakness is a reportable condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements caused by error. or fraud in. amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control over financial reporting and its . operation that we consider to be material weaknesses. However, we noted other matters involving internal control over financial reporting that we have reported to management of the City of Chula Vista in a separate letter dated October 26, 2006, relating to both the City and the Agency. 45 Compliance and Other Matters. As part of obtaining reasonable assurance about whether the basic financial statements of the Agency are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, noncompliance with which couId have a direct and material effect on the determination of financial statement amounts . . Such provisions include those provisions of laws and regulations identified in the Guidelines for Compliance Audits of California Redevelopment Agencies issued by the State Controller's Office, Division of Accounting and Reporting. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, ,,,e do not express such an opinion. The results of our tests disclosed one instance of noncompliance or other matters, as documented below, that is required to be reported. Five Year Implementation Plan As documented per the California Health and Safety Code, the Agency is required to update and adopt its Implementation Plan every five years. The Agency updated and adopted the Implementation Plan in November 1999; however, the Agency did not update or adopt a subsequent plan until July 2006. The required adoption date was no later than November 2004. This report is intended for the information of the Board of Directors and management of the RedevelopJ;l1ent Agency of the City of Chula Vista and the State Controller's Office, Division of Accounting and Reporting and is not intended to be and should not be used by anyone other than these specified parties. ~~~~--Arc. 46 A IT ACHMENT 2 REDEVELOPMENT AGENCIES FINANCIAL TRANSACTIONS REPORT COVER PAGE City Of Chula Vista Redevelopment Agency Fiscal Year: 2006 ID Number: 13983715600 SUb~:a~ Signature ASSistant Director of Finance Title Phillip A. Davis Name {Please Print) /:J- - L'l~ o~ Date Per Health and Safety Coce section 33080, this report is due within six months 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.,Lowand 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..Camplete all forms as necessary. 2. Transmit the completed output file using a File Transfer Protocol CFTP) program or via diskette. 3. Sign this caver page and mail to either address below with 2 audits and the HCD repo~. 1. Complete all forms as necessary. 2. Sign this cover page, and mail complete report to either address b!?low with 2 a~d'its 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 SectiDn P.O. Box 942850 . Sacramento, CA 94250 Express Mailing Address: State Controller's Office Division of ACGounting and Reporting Local Government Reporting Section. 3301 C Street, Suite 700 . . Sacramento, CA 95816 ..... ..c;;'L.pity 9f.ChlllllYista:~~:q.f!~~I~g~~ri1Age~c;Y _~:-__..,._.. .__~_,.-~_"~_ 'C'___'_:'__-:-~,:.,,_, ." .__.__._....:.~_ _...._~_.:_ ",_,"'__"'_'":_' _"~:_~_" __.- "',_,_'_' ,____ _~ _:_: ~.; .:';___._. .. ..., 'R~qe;.ieloprnentAgerlCies Financ.ial Tr.,!.nsactions RePlut . General Information , Fiscal Year 2006 :M'embers of ,the GovernlllQ Body - Middle Last Name First Name Initial Chairperson IPadilla I ISteve 10 Member IChavez; -.J lpatri~ia ID Member lCastan~da llsteve 10 Member I Rindone IIJerry I~ Mem ber IMcCann IIJohn ID Member L II 10 Member L_____~.J L JO lYIember" I Ii 10 Member r II :-.JO Mem ber I II 10 ;.Mailin~ Addre.ss Street 1 1276 Fourt~Avenue 5treet2 City !Chula Vista Phone ~619) 691-5051 State ~ Zip [91910' J I .-.J Agen~y Offl~lals Last Name Executive Directpr [Rowlands Fiscal Officer IKachadoorian Secretary lSmith Report Prepared By Firm Name Last [Roble First fROOie Middle tnltlal D Street 1276 Fourth Avenue --.J City IChula Vista I State ICA I Zip Code 191910- I Phone 1(619) 476-5376 I First Name Mlddte Phone Initial I IDavid IE] [(Bi9) 691-5031 J IMaria IE] 1(619) 691-5051 I IDana I~ ~) 691-5031 Independent Auditor IMoreland & Associates INelly !Lynne c:::J 11201 Dove Street, Suite 680 INewport Beach. ~ 192660- 1(949) 221-0025 l J I I @] Is Address Changed? General Information Page 1 12/27/2006 " co.. ,;."jCitYJ:!f;,Ch!!I.i>Vil!t<i,e.!i!:l~.v:eJi:ipiii.mtiAg~n~cy "'" '...... -;-:\~~o~~f~'-'~pg.;eni:'1g~ij,€~~~;~i.~'!!i:~~f;~if.~~~ptf9ns.~1l~6.rt ,'. Achievement Information (Unaudited) '''.,,! -',', .~. -, . Fiscal Year 2006 Indicate pnly Those Achievements Completed During the Fiscal Year of this, Report as a Direct Result . of the Activities of the Redevelopment Agency. Please provide a description of the agency's activilies/accomplishments during the past year. (Please be specific, 8S this information will be the basis for possible inclusion in the publication.} :'i/;.Ar;.ti",i.lY:Re.'po.rt During the fiscal year ended June 30, 2006, the Chula Vista Redevelopment. Corporation was formed. The five (5) year Implemenation Plan for all project areas was adopted. A redevelopment road show was presented for public a,utreach and education. A loan agreement was signed with the California St~tewide Communities Development Authority for the funding of the Educational Revenue Augmentation Fund (ERAF) payment to the County of San Diego. In the Bayfront project area, a joint Sa'n Diego Port Authority and the City Bayfront master planning effort ,is underway, In the Town Center I, the phase II of the Gate~ay officelrelail project was completed. The Town Centre I land use amendment is undelWay_ The downtown parking study Request for Proposal was issued_ -The Ager)cy entered into five, Exclusive Negotiating Agreements for properties in, the Downtown Urban Core, In the Otay Valley project area, a component of the Merged Project Areas, the construction of the Chula Vista Toyota auto dealership,' the Chrysler-Dodge-Jeep auto dealershIp and Payless Car Sales were completed and opened for business. The South Bay Motor sports Is under construction.. The Merged Project of the Redevelopment Agency entered into two Exclusive Negotiating Agreements on E Sfreet. Construction of the Panda Express and Sou plantation restaurants on Main Street, Q~y Y~!!~Y."PI_()lect !!~~! _~'?!E!_~of!1pJ~~~d.:-_. _ Achievemenllnformation (Unaudited) Square Footage Completed Enter the amount of square fOl;itage completed this year by building type and segregated by new or rehabilitated construction. New Construction I Commercial BUildings 1 12,9~ Industrial Buildings C 1,600 I Public Buildings 1 2,0521 Other Buildings 1 13,3021 Total Square Footage I 29.878J Enter the Number of Jobs Created 1 5001 from the Activities of the Agency Types Completed IACDE :::J Rehabilitated 70,9271 1 34,650 I 3,3~ . .._10B~!l.63j A=UtiliUes B=Recreation C=Landscaping D=Sewerl Storm E=Streetsl Roads F=Busrrransit Page 1 12/27/2006 f",- :.ECiiY;Q.f;QhQI..1vj~:t.IiB,Qd~~~iII~i!iiioiAg~!icY,;:.,,,, ,'. . ... r7~:':'!~e~~~!.8~m~~~1~~~f!~~~'iij~~~~}~~,~~~~.#:g~~R~~.:~~~~~'~"~.' ..,; -....,....-..,':. Achlevementlnformatlon (Unaudited) Achievement Infonnatlon (Unaudited) Page 2 12/27/2006 ~i~:?~;~h,l!,~{r,~~~lfi~'1i~Ii~~~~t~~~I1;~r\,;, . ". RedeV~lcipme!1tip;ge~Cil!~'Fin~!J~i~I,'~r~~~~~~\~115 Rep!>rf , Audit Information Hscal Ye~r 2006 Was the Report Prepared from Audited Financi~1 Data, and Did You Submit a Copy of the Audit? Indicate Financial Audit Opinion If Financial Audit is nol yet Completed, What is the Expected Completion Date? Y~sl If compliance opinion ,Includes exceptions, stale the areas of non-compliance, and describe the agency's efforts to correct. Unqualified I . If the Audit Opinion was Other than Unqualified, State Briefly the Reason Given Yesl Was a Compliance Audit Performed in Accordance with Health and Safely Code Section 33080.1 and the State Controller's Guidelines for Compliance Audits, and Did You Submit a Copy of the Audil? Indicate Compliance Audit Opinion lUnqualified :=J If Compliance Audit is not yet Completed, What is the . Expected Completion Date? . Audit InforrTJalion Page 1 12/27/2006 CitY>Qf.Cl:!ul"cV(~t"Bed~i!.elqpm!illltlJSg!3.n~y" > 'Rede~e(qHme!1tT~i~n~i~sj;i~~rcl~l~t~~.;~~~~~!~~-~S;~liport " . ,,< - .:. I ;, .~,,-;_., ,_ _ ". ".. _ .~., _ _. L:- ";. - ._~;- . Fisca,lYear '2096' Please provide'a Brief Description of the Activities for this Project Area During the Reporting Year. ~,:.: A~tiy,IIVLR;PQ_rt:-_:-1 During the fiscal year ended June 30, 2006, the Chula Vista Redevelopment Corporation was formed. The five (5) year implementation plan-for the project area was adopted. A redevelopment road show was presented for public outreach and education. A loan agreement was signed with the California Statewide Communities Development Authority for the funding of the Educational Revenue Augmentation Fund (ERAF) payment to the County of San Diego. In the Bayfront project area, a joint San Diego Port Authority and City Bayfron! master planning effort is underway; In the Town c~nter I , the phase II of the Gateway Office/Retail Project was completed.. Tthe- Town Centre I land use amendment is underway. The downtown parklngstudy Request for Proposal was issued. The Agency entered into five Exclusive Negotiating Agreements for properties in the Downtown ,Project Area Report . . . ... . . 'ProjeciArea Name Town Center I/Bayfront Project Area Forwarded from Prior Year ? Enter Code .for Type of Project Area Report P = Standard Projecl Area Report L i:::- Low and Moderate Income Housing Fund o = Other Miscellaneous Funds or Programs Does the Plan Include Tax Increment Provisions? I I ..'~ pI A = Administrative Fund M = Mortgage Revenue Bond Program S = Proposed (Survey) Project Area Yesl 0710111974] 06/23/19961 Date Project Area was Established (MM-OO-YY) I I I I N~ L 04/2~ [ Y.::J Most Recent Date Project Area was Amended Did this Amendment Add New Territory? Most Recent Date Project Area wa~ Merged Will this Project Area be Carried Forward to Next Year? Established Time Limit; Repayment of Indebtedness (Yea.r Only) Effectiveness of Plan (Year Only) New Indebtedness (Year Only) Size of Project Area In Acres Percentage of Land Vacant at the Inception of the Project Area fiealth and Safety Code Section 33320.1 (xx.x%) .Pen::en~age of Land Developed at !he Inception. of the Project Area Health and Safety Code Section 33320.1 (xx.x%) Objectives of the Project Area as Set Forth in the Project Area Plan (Enter lhe Appropriate Code(s) in Sequence as Shown) R = Residential I = Industrial C = Commercial P = Public 0 = Other I 20241 I 20141 I 20041 1 1,1741 C- 3.01 1 97.01 RICPol Project Area'Report Page 1 12/27/2006 '. . ..".,::, .~.. .:. ~GitY:OFC-IJ:~ia iii>~!R.E!{!~Y~)9Pii!Arit~~!i~n:~y~.. ~:~:::'-::.-' . , ;R~d;;ei;-m~ntfAC~m{ie~;lEiriariCilii'ii:}ilDS~'ai6nS'FRi!'ort~\,~- " ' '. - . - . ",.P - ".".~"~ :;.'i;)";~i':"::i:~':~;,r:~rr(C!t~~;,?y!p-'~.::'T"" lJ.--." '_'_~'-.' J':." " Fiscal Year 2006 Please Provide .8 Brief Description of the Activities for-this Project Area During the Reporting Year. -'--'0........ -----.. __I ::- .':.:,Ac~iYiJvJ{e~ort . - " During the fiscal year ended June 30, 2006, the Chula Vista Redevelopment Corporation was formed. The five (5) year implementation plan fOf the Merged Project area was adopted. A redevelopment road show was presented for public 'outreach and education. A loan agreement was slg!led with the California Statewide Communities Development Authority for the funding of the . Educational Revenue Augmentation Fund (ERAF) payment to the County . of San Diego. In the Olay Valley project area, the construction of the Chula Vista . Toyota auto dealership, the Chrysler- Dodge-Jeep .8l!to dealership and Payle;s's, Car Sales were completed and opened 'for business. The South Bay Motor Sports is under . construction.. . Construction of the Panda Express and Souplanlation restaurants on Main Street, Otay Valley project area, were completed. Project Area Report Project Area Name ,',""',,'. Town Center II, otay Valley, Southwest Merged Project Areas 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? I~- I "--~ pi A = Administrative Fund M = MorlgageBevenue Bond Program S- = Proposed (Survey) Project Area Page 2 Yesl 08/13/19781 05/04/20041 Yes I 12/01/20001 Yesl L I I 1 1 I 20491 20341 20241 2,456 I 72.01 --~ Date Project Area was Established (MM-DD-YY) RICPOI Project Area Report . 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 10 Next Year? Established Time Limit: Repayment of Indebtedness (Year Only) Effectiveness of Plan (Year Only) New Indebtedness (Year Only) Size of Project Area in Acres Percentage o"r land Vacant at the Inception of the Project Area Health and Safety Coda Section 33320.1 (xx.x%) Percentage of land Developed at the InCeption of the Project Area Health and Safety Code Saction 33320.1 (xx.x%) . Objeclives of the Project Area "as Set Forth In the Project Area Plan (Enter the Appropriate Coders) in Sequence as Shown) R = Residential I = Industrial C::: Commercial P = Public. 0 = Olher 12/2712006 \..~. .:, .,......, ,,,''', .';CitY,OL(:Jllla:llli;iil!;Ritij(lY~JliplUj[nlfAgep~y{;~,:'c. ~.." . "J,..{;}~e~;d~~18~~.~ij~'~~~p'g[~~;~~1~:~~~,~~~i~;~~~~;~~~~~~;~!1,\'. . Assessed Valuation Data . ,.-. I/~.. ,-. .,. Fiscal Year . 2006 Project Area Nam.e Town Center IIBayfront Project Area Increment Assessed Valuation I 252,711,208 I L . .26.8,915,662 I I 521,626,870 I Frozen Base Assessed Valuation Total A.ssessed Valuation Assessed Valuation Dala Page 1 12/2712006 - . ,- , . -,.~-: _.__n_. ,- -~.~_.--;;. :-,'-c:---."T - ,'..~.~___:-' _.-~:-.- --:~.~:- ..---~,.,____;_-q '-C:-"';'.:,;-.' _.: ,;, ___ .C.jty,~l Gb.I,I!a ;Vi~Ja,ai!!!Il'{,eIQPmllnti~gIlI)CY':<, :l" ". ",u.'fiedeir~iopm~~t_t:~~~~~~~!,;,rS~?~~~~~Fw~t,~~m~~~~~~i:~~rf Assessed Valuation Data Fiscal Year 2006 Project Area Name ". -'.....,. Town Center II, Otay Valley, Southwest Merged Project Areas . Frozen Base Assessed Valuation I 702.901~ I. 53.1.~ I 1,255.064.3631 Increment Assessed Valuation Total Assessed,VaJualion As~essed Valuation Data Page 2 12/2712006 Fiscal Year. Project Area Name Amounts Paid To Taxing Agencies Pursuant-To: ...~i~cifff}~i2f~~r~ik~,i~~,l~~~~~}~B~~t~i~i~!~CL~". . 'Redeir!llqpment>J);gencjes.'Fimin~jalh"Fr;iIli!:~"tio'ns:Repol:t. . '_ __.. "....... _..' ,J ,.._ ,_._,__ ..,.....-'-..c..... _""-"'_ _. ._,_." .,_ . _.,' "'-._',.__'.' . ", __ r"'"."",-_'. '~"'~..'~ ""~~ '^..~ _'." .....~,.. ,.,..: _' ....~.'__ Pass-Through J School District Assi~tance 12006 I ITown ,Center IlBayfront Project Area Tax Increment Pass Through Detail Other Payments H&SCode "Section 33401 H &'5 Code Section 33676 H&5Code Section 33607 Total H&SCode H&SCode Section 33445 Section 33445.5 CounJy Cities School Districts Community College District Special Districts Total Paid to Taxing Agencies Net Amount to Agency Gross Tax Increment Generated 1 0,0361$.19,03[; ..I';;:"~"i"",,:'f:/~~\'\'::':'I'" .L" '. ..... 6,9~ _ . $~,~ll!'.. L'2"i.fi;'''.YNY'::~:T": ",,'" "-, 18,108 t. $18,1081 I 1,917 L.-,~. ,:$1,91r..J I 1,021 L $1,021. kW;"':'(',,, >"'W7';',!,,;',J.;;,. '.;,.. . -I ,$~8,0"ll.L. ,$38,(j6.ll.J 10 1.-- ...$Il. J 1 l I I I 1 L----....$()-L 1 I r I 1 .. __ __$0, J.- I: .;...""w...H;,'(if'.c,;(,..;";;,:}""i,,.;),!igY,~""'iii:L,_1.4,2i.8,(lllll.J 1,;,.".:.,'i;'?k'\~,.~;I~' ..'. ;.'}"';A"'li;;',;';tiJ;'<)?{;rii!~;il 4,286,6771 Pass~T:hrough I Sc~ool.Djstrict Assistance Page 1 12/28/2006 .;- ~i~.pfCI)Jla.Yi~t~;~,#1~y~l~K~;~gii~~~I;~ ,...,. ~ -------~-'::":_~::-----:----c----,-----,---,--------r-7T'---~:~~,,---:::~,.,.,~-:,.,_:::-,.---.:'-.. ::.,-~-_-.-:-~' Redev!lJpptJ.1~rt A!!eflci':l~'f!!!iln~j;~i:"]r~ri1!~~!to~s.~~llprt Pass-Through / School District Assistance Fi~cal Year ~06 Project Area Name Town Ce.nter II, otay Valley, Southwest Merged Project Areas Tax Increment Pass Through Detail Other Payments "Amounts Paid To Taxing Ag'en~ies'Pursuant To: . H & S Code ,Section 33401 . H & S Code Section 33676 H&SCode Section 33607 Total H & S Code H & S Code Section 33445 Section 33445.5 County 1 Cities [ School Districts 1 Community College District 1 Special Districts I Total Paid'to Taxing L -Agencies Net Amount to Agency I , Gross Tax ~ncrement I:. .-; Generated . ,380,7551 1 I I I I I 25,0771 ~405,8J~. I":,'....c..... 18,0971. 'd. ~18.Q!l7. l;" "W" '. 47,182 L.___~5.s.8..s8~J 4,9581. ,_..~5B,~~,~..1 ~_ __J~Q.9~Q. I~t),,>, ., $.9.7,~2J .L~l,072,jl~~ 1 '.J ,'. 1 1 I ',:1 ~ol I I I I I jO J 511,400 I 54,5271 28,4711 , ,~9.L!!.,l~J,L J9, -, '" - 'L' " " ''','/,':1-' _ ..::.;,','-:,i,;-':;I---.J..5..2i~ :'/"NI}'O _ .'i.,'?':0i:~51"i~:,ptt;c~?'l'2J'q,I')i 6,118,2031 pass":'Throughl School District Assistance P~gB 2 12/28/2006 City OJPbulaYistaijec;ley~IQpmerit>AgEmi;y_ .. ..-._.-:-:-:----,. - ,-: ---.,:-.------' -,-.,.~-_..,. -~--~ --,--"",',-:-:-- -.-':----'"7:--.,."-.._.,.,..,,:r------;:-~-----;:-~-i--- - . Hec;levelopment Agencies Financial Tra~,sa(;tiQn~ 'RePort. ~,..- ,~.~ Fiscal Year. Summaryof the Statement of Indebtedness - Project Area. 2006 Net Tax Increment Requirements ~~~~fw~m~~~%1~~wJ~{~~~~-~~;a.:,i.~~~:;:':' 47,137.4161 I 1,254.4061 4,491,9021 12,981,8651 8,871,6871 1$74,737,~6_J I 627,0431 I ..E4,11(J,233J Project Area N~me T a"x Allocation Bond Debl Revenue Bonds Other Long Term Debl City/County Debt Low and Moderate rncome Housing Fund Other Total Available Revenues Summary of the Statement of Indebledn~5s - Project Area Page 1 12/27/2006 '. Fiscal Year "_ _(::jtyP!C~U!~'Ili~l~~I!~~VI!}?p-~~n~~:!l!ncy_c Redeveloprrient-AgEl"nciesFin~ncia'-Ti~Ol!~plioij~'Rllflort Summary of the Statement of In-debtedness - Project Area 2006 Project Area Name ~~t;~~f~~~~~ii~~{~~~!~~~,~~r~~~~i,~i~,~~H:' : 27,690,2941 Net Tax Increment Requirements 1 I I 1 I I I 1 1 1_$~~1 ,~29,8116_r Tax Allocation a'ond Debl 1 9,641,1411 35,694,041 I 20,331,2841 7,273,1261 $1 P1..,0~9,866 J Re.ven'ue Bonds Other Long Term Debt City/County Debt Low and Moderate Income Housing Fund Olher Total Available Revenues Summary of the Statell1ent-of Indebtedness -'Project Area Page 2 1212712006 - ,... -:~;~S1!Y;\2fr~b~f~Mlri~~~fl#~~x~!BmiiiDM~[[Q,RE2,;:;,..~,',;', .....7.7.,..R;~vjll'~piIf~iliAg~!igj!ii!j!5m;io'~f"H[r@~!:\~nQii~~R~pt;rf:!'..~'.",' AgencY' Long~Term Debt i~ Fiscal Year' Project Area Name 12006 ITown Center I/Bavfront Project Area Bond Type Year of Authorization Principal Amount Authorized Principal Amount Issued Purpose of Issue Maturity Date Beginning Year Maturity Date Ending Year Principal A~ount Unmatured Beginning of Fiscal Year A~ju5tment Made Du~lng Year Adjustment Explanation I". .,'" 1 '!.~~ '(-'\"''.h.,~c~~:1)i~~i;'-::: !CilylCounly Debt I 19741 I 4.888.9051 [ 4,888.9051 loperalions [ 19741 L 20241 I. .J~,2~9,~55 J I .40.8331 To eliminate advances betweell project areas. Forward from. Prior Year Interest Added to Principal . Principal Amount Issued During Fiscal Vear Principal Amount Matured During Fiscal Year Principal Amount Defeased During Fiscal Year 1 L 1 1 I L_$4~!P,Q~ J I I 1 I 201,0431 I I PrincIpal Amount Unmatured End of Fiscal Year . Principal Am punt 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 Agency Long-Term Debt Page 1 12/2712006 .c;itY,Qf9!1ul~,y,!~Pi"" J~,e,,'\f, ~y."el.9llm,JiiittJX!liiIJFY".;:: ".," ,.""~~,,,..,...,.~, .:,.-.....--. -, ',._C. 'i'-.- _ 'il;',~, _.- '~~~"h:,,..;._,i1_.,a.:t;,fu.~,,\,,,P..._~,,_.,.~-,,,,,,'klilk'.d, ',,__ .. "'<'; ._'.,._,' ~" -, ---_--:_. .,,-- T,_-.~-_;'_~'".--,......,..,. ','~~'~: -:~;:' -::,.,.-T----:-:.-;'-.,,'~,~~' '-"".;-"~.ij:,'''''"-.....",,.s:,~;,,C7'--~:~'"._:~_'''-::-'''-'..' .. "'ijedeyelpprrfent'Amm!;iesF.inan,c;i;llrrr<!.!111l!C;tilimf!Repprt ',' Agency long-Term Debt Fiscal Year Project Area Name 12006 I ITown Center II, Otav Vallev. Southwest MerCled Project Areas Forward from Prior Year IJe~::'!~'i"c/:,B ICily/County Debt I' 19781 t 61,489.934l 161,489,9341 loperations r-- 19781 I 2038] 1$27,7.53,.52.8 I I -5,166,1251 fro eliminate the advances between [project areas. L 1,17~ I 1,137,398 I I 1,081,010 I I I I $2~817',2~U 1 I I I Bond Type Year of Aulh-orization Principal Amount Authorized Principal Amount Issued Purpose of Issue Maturity Date Beginning Year M.aturity Date Ending Year Principal Amount Unmatured Beginning of Fiscal Year Adjustment Made During Year Adjustment Explanation Interest Add~d to Principal Principal Amount Issued During Fiscal Year Principal Af!lount Matured During Fiscal Year : Principal Amount Defeased During Fiscal Y.ear . Prindpal Amount Unmatl,Jred End .of Fisca,- Year Principal Amount'ln Default Interest In Default Bond Types Allowed: . , , Tax Allocation Bonds; Revenue Bonds; Certificates of ParticipalJon; Tax Allocation Notes;' Financing Authority Bonds; City/County Debt; US;Slate; Loans; Lease Obligations; Notes; Deferred Pass-Throughs; Deferred Compensation; Other Agenl;:-Y Long~Temi Debt Page 2 12/27/2006 ---- -- GitYOfGhulaNista'REl!1eveIQPinenN~gefll;Y . .. ',_. . _ _ _,' __ _.._ ':,,', _,_:.-_ -:. _, ,~,-.... _ _~;:;,-, ,~. i';.~: --.->.;:~',,,,;-_.;'J,,:t ,:";"j-'~-~',}'I"'~-~i<-F-"::-':) -~-_" ,:".' .--_ '~e.ci~~el~pmeniAgel"1~ie~'Fjrr~*jal'Trfili~~iiQ'ri~.Rep'Q'rf;< Agency Long-Term Debt 20051 387,1611 387,1611 Funds used to pay for the FY04-05 ERAF deposit to the County of San Diego. C I I I 1 1 1 1 I I t_._.-13~9,~U 1 I L ~ Fiscal Year . Project Area Name 12006 1 ITown Center I/Bavfront Project Area .. Forward from prior'Year Bond Type Year. of Authorization Principal Amount Authorized Principal Amount Issued Purpose of Issue IY.e~: :: ~oan5 I 1 I Maturity Date Beginning Year Maturity Date Ending Year Principal ~mount Unmatured Beginning of Fiscal Year Adjustment Made During Year Adjustment Explanation Inter~st Added to Principal Principal Amount'lssued During Fiscal Year Principal Amount Matured During Fiscal Year Principal Amount DefeasE!d During Fiscal Year --.J '~:A~i 1 200SJ 20151 $387,161 I -- -.--- I I I 27,830 I Principal Amount Unmatured End of Fiscai Year Principal. Amount In Default Interest In Default . Bond Types Allowed: Tax Alloca,lion 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_.oebt Page 3 12/2712006 r-' City Of Chiila Vista~~~eie!~pn..entAge~ncy.. '.' ~ -'-- ,', "- -';::;':"\',,-:-.-'.',,,--,; :;-,'".-;'-,.'.,',,,':,",',"-' ;;;,:.,.~..',,,,,; ':'-.;.-'..::.-::",:-:;,",,.. '-';- --" Fiscal Year Project Area Name =::J . . . Forward from Prior Year ......~ I Bon~ Type' " Y~ar of Authorization Principal Amoun( Authorized Principal Amount Issued Purpose of Issue ~'c';..' jLoans I . l [ 20051 377,839] 377 ,839 1 Funds used to pay for the FY04-05 ERAF deposit to the County of San Diego. Maturity Dale Beginning Year Maturity Dale Ending Vear Principal Amount Unmatured BegInning of Fiscal Year Adjustment Made During Year Adjustment Explanation Interest Added to Principal Principal AmOl~nt Issued During Fiscal Year . Principal Amo~nt_Malured ,During Fiscql Yeaf Prlncip~1 Amount Defeased During Fiscal Year PrIncipal Amount ~nmatured,~nd of Fiscal Year , Pdncipal.Amount'ln Def~ult, Interest In Default I 20051 I 20151 I $377,839 J I I I I I I I I 27,170] 1 [ I $350,6~69 J I ~ [ 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; Nqtes; Deferred Pass-Throughs; Deferred Compensation; Other " Agency Long-Term'Debt Page 4 12/27/2006 CityPfChll!!hV,i~~~~e9!1\!~lgpm!l.l#iAge.'f1cy ":., :,:...., ,',:. "._'_ _> .,-,_.,':_;,,-.- O"I.,S'.--, " ;;'. ',,~. .',l: ,.:,,:) .~'.,,~';.;._'~-"_~.": _, "G..c",_,.:.~_l~'~L':."'J; ::..o.:.':~ .,i}.;;,-,'~ ..:....n.~:> - "',' RedllYIiJcipmce-r1tAginj;~finitniiiilIT;:all~!!~~ti!1ns-'ReJlQit2 .. Agency Long-Term Debt Fiscal Year Project Area Name 12006 I ITown Center I/Bavfront Proiect Area Bond Type. . Year of Authorization Principal Amount Authorized Principal Amount Issued Purpose of Issue M.atu.rity Date Beginning Year Maturity Dale Ending Year Principal Amount Unmatured Beginning of Fiscal Year Adjustment Made During Year Adjustment Explanation Interest Added to Principal Principal Amounllssued During Fiscal Year Principal Amount Matured During Fiscal Year Principal Amount Defeased During Fiscal Year. Principal Amo~nt Unmatured End of Fiscal Year Principal A~ount In Defau!t Interest In Defaull ~~d ITax Aliocation Bonds 1 19941 1 14,810,0001 I 14,810,000 I rSeries A L-.- 1 1 1 1 I I I I I . _ ~12,590,~0.!l_ I 1 19981 20241 $12,885,OO~J 1 : Forward from PriorYear I I 295,000 I I r 1 1 Bond Types Allowed: Tax Allocation Bonds; Revenue Bonds; Certificates of Participation; Tax Allocation.Notes; Financing AuttJority Bonds; City/County Debl; US;State; Loans; Lease Obligations; Notes; Deferred Pass-Throughs; Deferred Compensation; Other . . Aj:lency Lorig~ Terin Debt Page 5 12/27/2006 1..._ '. ., SL~~~'8h~!f"{i~B,!!ii~i~~Ji?f.mi~i~9,iii~~:!kl' ';':"~:~;' ,',! ,,-H,,;' -R~~-;;V-;!9P_ri1~~tJi;g'",ncii9s'iFin~n~ia!~TIa.~~!;liQii~iR!!PQrt~-'~ :n:c.~,...., . Agency Long-Term Debt Fiscal Year Project Area Name 12006 I 'ITown Center I/Bavfront Proiect Area Bond Type Year of Aulhorlzalion 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 Princip~1 Amount Unmatured End of Fiscal Year principal Amount In Defj3.ult Interest In Default l'Ye~"'":~",,,<,,-'1 [Tax Allocation Bonds 1 19941 1 6,195,000 I 1 6,1~ lseries c L I I I ~ Forward from Prior Year 1996] 20241 $7,025,00.0...1 I -.J 1 1 170,0001 I $6,B5~,cJ~J 1 -.J Bond Types Allowed:. Tax AI!ocalion Bonds; Revenue Bonds; Certificates of Participation; Tax Allocation Notes; Financing Authority Bonds; City/County Debt; US;State; Loans; LeaseObligat!ons; Notes; Deferred Pass-Throughs; Deferred Compensation; Other . Agency LOl")g-Term Debt Page 6 12/27/2006 ~:,;., CityQf Chula Vista'RedevEllqprrlentiAiMlcy ,.__ ' .. _. __.' _.; ,_.~>_' '.' ". ,. ;....{_~__::>,.;.;.-,~;:...__,:,._,...._,:>.._..,._..__..o. .. .Re~eve'-QPmEl~iAgen~j!i~~fil1l1ncj~ITiii1~iiQii~n~iRepQij.. Agency Long-Tenn Debt Fiscal Year . Project ArEla Name. 12006 I !Towll Center I/Bavfront'Proiect Area Forw~rdfrom PriorYe,ar Bond Type Y':'lar of Authorization Principal Amount Authorized Principa! Amounlls5ued 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 Defessed During Fiscal Year Principal Amount Unmatured End of FIscal Year Principal_Amounlln Default Intereslln Default [!es':CC::\":.'" '. :1 ITax Allocation Bonds I 19941 I 5,680,0601 L 5,680,00oj lseries D I r I I I l I I I I I I 19981 20241 $5,050,000, J I ---.J 1 105,000 1 --.-J .$~!945,OOO J Bond Types Allowed: -. Tax Allocation Bonds: Revenue Bonds;-Certificales of Participation; Tax Allocation Noles; Financing Aulhority Bonds; CUy/County Debt; US;State; Loans; Lease'Obligations; Notes;'Deferred Pass-Throughs; Deferred Compensation; Other . ... Agency Long-Term Debt Page'? 12/2712006 _.GitY,Of;Ch_ulaVi~~ ;H~deyeIQPm~jj1;'iiog~~ric:Y..-.-' ;:. . ..--_," ;_,,:,. ".:.... ~> ....,~._~;.' :,;;'_:: .~'.'D,~,._k'r-_--'.c. ,-: - , "'".'L_...,_.~,.;i;)";>:._t';;-':";it'_"~~;~.;-;';~.:,_-"',~,,,, -. '", - - -----Redive-!!ipme~j;P;genci~ifin~nti~'mr~l1$.actlQn~;.RePQrt- Agency Long-Term Debt Fiscal Year Project Area Name 12006 J - ITown Center II. OtavVallev. Southwest Merged ProiectAreas Principal Amount Unmatured End of Fiscal Year '.Princ!pal Amountln Default .Interest In Default . IYes.-!",:_ ;-J ~1I0cation Bonds l - 20001 I 17,Ooo;OciOl 1 17,0~ IFinance Redev~lopmenl Activities I 20011 L 20301 I $16,280,000 J 1 I [ L 1 I L I 1 1 ...J- ForWard from Prior Year ". Bond Type Year of Authorization Principal' Amount Authorized Prindpal Amount Issued Purpose of Issue Maturi~y Date Beginning Year Maturity Dale 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 I I I 375,000l I $15,905~00J I I Bond Typ~s Allowed: -Tax -AII~c.aJion B~nds; Revenue Bonds; Certificates of Participation; Tax Allocation Notes; Financing Authority Bonds; City/County Debt; US;Slate; Loans;.l,~(!is~'Obligations; Notes; Deferred Pass-Throughs; Deferred Compensation; Other - . Aoancv Lona-Term Debt Page B - 12/27/2006 --.- --- - -- ._, - .-.,..- - ..---.- -....- -- -,---, .--.--,.-'-- - - .. CityOf Chulll '{i~~~ H~'<IeveI9pm,e'nr~~~11CY RedElve!qplllentAgenci!!'s!'inanci", Ttllnlill~ticil1~ H,ep!'irt Agency Long-Term Debt Fiscal Year Project Area Name 12006 1 ITown Center IIBavfront Proiect Area ~ Forward-from Prior Year . BOfJd Typ,e Year of A,uUlOrization , .. Principal Am ount Authorized Principal Arn'ounllssued Purpose of Issue ',0,;;,';.,] Maturity Date Beginning Year Maturity Date Ending Year Principal Amount Unmatured Beginning of Fiscal Year Adjustment Made'[~uring Year Adj~stment Explanation Interest Added to Principal Principal Amount Issued During Fiscal Year Principal Amount Matured During Fiscal Year Principal Amount Defeased During Fiscal Year ILoans I 20061 1 586,830 I . l 586,830 I To fund the FY 05.06 ERAF payment to the County of San Diego: 20061 .202"1 J I .-.J Principal Am~unt Unmatured End of Fiscal Year Principal Amount In Default Interest In Default I I I I I [ I I L_ I I I I 586,830 I I I .$?86,830. I I I Bond Types Allowed: Tax Allocation Bonds; Revenue Bonds; Certificates of Participation; Tax Allocation Notes; Financing Authority Bonds; City/County Debt; US;Slate; . LO,ans; Lease.Obligations; N~le5; Qeferred Pass-Throughs; Deferred Compensation; Other ' Agency Long-Term Debl. Page 9 12127/2006 City .oiCtliil~-Vj~t~-R~'d~velop.rr.centAg~ncy -..:.. ..-.. .,... --.' ",',.. -..: '-"';'- .,..; ". .:. ;, ....' ",'- ~'.....,~, <" .:-~""~ ';.;.". " .. ,: --',',,: ,,;", .~: ,-: .... :. ...,,' - .. .. ".-< ':_' . Reiie;'~!9Prrten~ A911l1ciel; ..Fil"larJci~ITflIri5~;;tjQ:r;s.RepQriu Agency Long-Term Debt Fil;cal Year Project Area Name 12006 1 ~n Center II. Otav Vallev. Southwest Merged Project Areas. l FOlWard from Prior Year L . I Bond Type' Year of AuthorIzation Principa.1 Amount Authorized Principal Amount Issued Purpose of Issue ILoans I 1 1 20061 343,170) 343.170] To fund FY 05-06 ERAF payment to the County of San Diego. .. L 20061 I 20161 1.1 1 ~ 1 I 1 I I I I I 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 D,efeased During Fiscal Year. Principal Amount Unmatured End of Fiscal Year Principal Amount In Default Interest In Default I 343,170 I l I $343, ~70_J I I Bond Types Allowed: . Ta?, Allocation Bonds; Revenue Bonds; Certificates of PartiCipation; Tax Allocation Notes; Financing Authority Bonds; City/County Debt; US;State; "Loans; L~a5e.Ol?llgations: Notes; Deferred Pass-Throughs; DeferredCompensaUon; Olher , Auenev Lonq-Term Debt Page 10 12/27/2006 ", ;Gill' 9f Gtuil;lVi5liiRl!ql!Ve,IOllmElrJt~9~n~~f .--',> ,. ' , .. - -'.. -.. ',c.,:,,_co ,--'>"> _...,...'_" ,.. ..,..c..'''..... q, _".__.. -, . Redeveloprrterit\Ag;;:'~i;S'Finan2iaITr~rilr.i~liQ'n~TRer;brt. . '. , . ,,' . ,. :_-"'_.'_'_'~",. "-._ _' ,...'.-_." ... __"'_-."",~'_i~i<~.~.;,l,.,.__.'..".,.,w..._~.,__,_". Non-Agency Long-Term Debt Fiscal Year Project Area Name 12006 .1 ITown Center I/Bayfront Project Area ForWard -from Prior Year I.v.......~ l!!~~~ !Mortgage Revenue Bonds '1 19971 I 16,300,000l L 16,300.000 I !Eucalyptus Bond Type y ea~ of Authorizati.on -Prindpa:l Amount'A.iJthorize~ . PrincjpaI.Amounl.lssued" Purpose of Issue 19971 20271 ..16,30_0,00CJ.J I Maturity Date Beginning Year Maturity Date EndingYear Principal Amount Unmatured Beginning of Fiscal Year Adjustment Made During Year Adjustment Explana~ion Principal Amount Issued During Fiscal Year Principal Amount Matured During Fiscal Year Principal Amounl Defeased During Fiscal Year Principal Amount Unmatured End of Fiscal Year Principal Amo~nl in Default Interest in Defaull l I I I I ~ I I I I I I I J $16,300.000 J B,?Od Types Allowed: Mortgage Revenue; Industrial Development; Commercial Revenue Bond; Certificate of Participation '. '. Non:-Agency Long':'.T erm. Debl Page 1 12/27/2006 ~:~gi~:}~fA~~~I~~!~~'~~~~~!~~~i,~i~~-*~~2~~~x.E~(:;':' ,::-,:-,,-}--:::~,7:--'---:-'~~-.~:~--:-~---'--~-_--'-:: ,--':-.--. -,--~~--:~-_-,--- ---,.,~c-::-~:,.,....."....:,-:-:_:--~,>~- :..--. "---- _.....- . ", ,i ;Ft'i~~v~loPrn~nt:1~:'~!}(;i,,:s.t!r~!Jf~~l't[~flJ!.~81'~!j.~A'{!!PPrt ' Non.AgencyLong-Term Debt j. ~. Principal Amount Unmatured Beginning of Fiscal Year 12006 1 !Town Center IIBayfront Project Area 1":~2.:2.l.:1oLJ IMortgage, Revenue Bonds I 199~ L 43,000,000 1 r 43,000,000 I ]Gateway. Town Center I 199BI 1 20321 I 4~,255,O.Q~J I ~ 1 L 1 I I L 1 I Fiscal Year Project Area Name - Forward from Prior Year Bond Type' -. .Year of Authorization Principal Amount Authoriz.ed Principal Amount [55,lied Purpose of Issue . Maturity D~te Beg1nni':l9 Year Maturity Date E;ndlng Year Adjustment Made During Year Adjustment Explanation J Principal Amount Issued During Fiscal Year 1 630,000 1 39,625,000 1 _~OJ ~ I Principal Amount Matured During Fiscal Year Principal Amount Defeased During Fiscal Year Principal Amount Unmatured End of Fiscal Year Principal Amount in Default Inlere~t in Default Bond Type," Allowed: . MortgaQe Revenue; Indu~trial Development; Commercial Revenue Bond; Certi~cate of Participation . .. . .. '. Non~A~e~cy Long- Te~ Debt Page 2 12/27/2006 20001 ~ __ 6.,~1_2,~0.ll1 I Maturity Date Ending Year Prif,lclpal Amount Unmatured Beginning of Fiscal Year Adjustment Made During Year . AdjustmE;lnl Explanation Principal Amount Issued During Fiscal Year . Principal Amount Matured During Fiscal Year I 90,000 I I I 1 1 Principal Amount Defeased During Fiscal Year Principal Amount Unmatured End of Fiscal Year Principal Amount in Default Inlerest in Default Bond Types Allowed:. fylC?rtgage Revenue; Industrial Dev~lopment; Commercial Revenue Bond; Certificate of Participation - :Non-Agency Long-Tenn Debt. Page 3 12/27/2006 : . ....:c~~~~]~[(;~ff~:Y~i~!~~i!~I~~~!~~yj.j~,r~,fi~~}t~}, .".. " ' ., -:. . R!id-~~elopii'ii~lA~~~~)el;:F.iq~1tEi~l~r~ii~rSli9h~)~~p,R.if,:,\:3:;~', ~ Non-Agency Long-Term Debt , r.,": Principal. Amount Unmatured Beginning of Fiscal Year 12006 1 ITown Center I/BlIyfront Project Area b'~~2;J IMortgage Revenue Bonds I 20001 1 5.779,000 1 I 5,779,000 1 lpear Tree Manor I 20001 [ 20311 L- _~,2!.~OJ 1 1 1 1 1 I I I 1 Fiscal Year Project Area Name Forward from Prior Year Bond Type Year of Authorization .Pri.nclpal Amount AuthOrized Principal- Arr'I?U1if Issued Purpose .of Issue Maturity-Date Beginning Year Maturity Date Ending Year . Adjustment Made During Year. Adjustment Explanation .-.J 70,000 I ~ mu~~'O~O .J I I P.rincipal Amount Issued During Fiscal Year Principal Amount Matured During Fiscal Year Principal Amount Defeased During Fiscal Year Principal Amount Unmatured End of Fiscal Year Principai Amo~nl in D.efault Interest In Default. . B.ond Type~ A:llowed: Mortgage Hevenue; Industrial Dev!3lopment; Commercial Revenue Bond; Certificate of Participation .. . . . . Non-Agency'Long~Te.nn Deb.!' Page 4 12/2712006 "'CiWiOfJ';hi!laVista\RedeveIQpmelJtihigency;.',<i'. '...... ~: _-:: '.,', , -'; :':';_~:: l:.'L '),-: .: -. ':'".,:~~_'.-. ~- _:' ~'- -'''__;;.'-:.~ ~;; ::,f~;~:~~~;\;~_~}:r~Jfdi1r[trjt\:t;'~1;T_L'.- :',::}:i ~'c_~;',_'~,. -C-:--~'7~-----:-:~-"~~~C'-- ~-:-- -~:':-'-~~-"---~--~--c~~-:-~-::--~':-"-----:'-7 -_.~ -~- - REldev!llopin!lI]t;AgElnC!e!;'finlln~1~ITra'n~~~ti9risil~IlPQrt.. . _,__' ", .. _" "_" __'._' .',.... "'_" ,_ ..- <,. _."..." . ,-._'. ',j :;,,_..,_~,._._....'_ --< .:', ,,",;',..,",..,:,-c' -"_'1-",:'''' -,,;'~,.""".- .. .;- Non-Agency Long-Term Debt Fiscal Year 12006 1 Project Area Name ITown Center I/Bayfront Project Area F,orward from Pri.QrYear l1~..J;;'-;":: '~:.diEJ BondType \Mortgage Revenue Bonds :Year of Authorization 20011 . . Principal Amount Authorized 15,384,000 I Principal AmouJlt Issued 15,384,000 I I Interest in Default Construction. of Heritage Town Center Apartments I 2005] 1 20341 '1 15,269,000J 1 I 1 1 I 1 190,000 I 1 I L$15,079,OOO I 1 I 1 j Pu.rpose of Issue Maturity Date Beginning Year Maturity Date Endln.g Year. Principal Amount Unmatured Beginning of Fiscal Year Adjustment ~ade During Ye_ar Adjustment Explanation Principal Amount Issued During Fiscal Year. Principal Amount Matured During Fiscal Year Principal Amount Defeased During Fisc.al Year Principal Amount Unmatured End of Fiscal Year Principal Amount in Default Bond' Types Allowed: Mor1gage Revenue; Industrial.D.evelopment; Commercial Revenue Bond; Certificate of Participation . . Non"Agericy LO~!;J-Term Debt P~ge 5 12/2712006 .,.j: ci~oiChuia Visfa-;Red~velppme'n~'Agei1Cy~";, _ _ ...:," ._~ . ',--" _ ,.,_,:". "; _:._.: eo'-".__' _.'. ',..::..",,:::.:;:.' } ,~X~i':._:,'.L':,~,;-"7,:.",:~:!",~,c:. .! ;~ .... .',~etl~yaidpm~ni,ft.;g'~ri~Ie~;fi.~c1I1,,!~I,i;r~'Q~actigns)ij~pPrt"'" '."'.' _. _'~~.""'. ,." .. .;. ...._,.,',., .....__.,<,..,.,-"..<,o...,..,~ ,: ,,,~"",' ,!\.":~,~".<. t..",., c_."~';"~_' ,._,.~.,~~,~d-'~,~,;"_"",;,;,~(".;~,.'-! .,---,,-.'- .'. - Non-Agency Long-Term Debt Fiscal Year 12006 I ~n Center I/Bayfront Project Area Project Area Name __ Principal Amount Defessed During Fiscal Year Prlf!.cipal Amount Unmatured End of Fiscal Year .Princip~1 Amount in Default Interest in Defa~lt IY!'EI~i:;2ZlJ !Mortgage Revenue Bo.nds 20041 11,6a6.OoOl 11,6B6,~ ~~struction of Rancho Vista Apartment51 I 20061 I 20361. I 11 ,666,~001 L I I I L. I I _$~1 ,485,000J I ~ I I , Forw;3.rd from Pri~rYear . 8.ondType 'Year of Authorization Princip'sl Amount Authorized ~rincipa.l Amount Issued Purpose of Issue Maturi~y Date Beginning Year Maturity Date Ending Ye~r' Principal Amount Unmatured Beginning of Fiscal Year Adjustment Made During Year Adjustment,Explanation Principal Amount-Issued-During Fiscal Year Principal Amount rv'!alured D~ring Fiscal Year I 201,000 I . Bond Types Allowed: Mortgage Revenue; Industrial Developme~t; Commercial Revenue Bond; Certificate of Participation ',' .Non~A.Q.eflcy: ~~ng-!_erml?ebt Page 6. '12/2712006 " ;y,:.., , ,'citY'Qf~!i~,~~vi~$~;~~~#~~~~~~~'~~~~~D;~~1'~r, 'RedevelripmenttAg~~2'fe5'fj!1<tH~j~fj.ran~"ct[~~siR~poit. ' '. '.,' '. _' ", _..' ',...'- ',d' ,'-C, ,_ ....~,. '" . '" " _, '..... ",~ ,,]c.,;' C" ...'.",_._ _. 'i'" '-,...]. _ _'_-~"" c_"~ :,"-~;,-"~,,, -: ' ,^.~--_....' -. Non-Agency Long-Term Debt Fiscal Year Project Area Name .Forward tram Prior. Year Bo_n~ Ty.pe - Year of Authorization 12006 1 ITown Center I/Bayfront ProjectArea [.,~i~tt.2J !Mortgage Revenue'Bonds ~ 37,940,~ 37,940,000 1 I I ", Principa/Amount Authorized Principal Amounllssued Purpose of Issue Maturity Dale Beginning Year Maturity.!?ate ,Ending Year Principal Amount Unmatured Beginning of Fiscal Year Adjustment "Made During Year Adjustment Explanation Principal Amount Issued D.uring Fiscal Year Prlncip?I"Amount.Matured During Fiscal Year Prin.cipai Amounl Defeased .Durin.g Fiscal Year Principal Amount Unmatured End of Fiscal Year Prln~ipal Amount in Default I.nlerest.in Defaull Teresina Apartment 2006 A (Refunding Gateway Town Cenler Series A) ~ 20181 I 20361 I m___.J 1 [ 1 [ I I I I ~ 37,940,000 I 1 I ~37'!l~0,000 J 1 1 Bond Types Allowed: Mortgage Revenue;. Industrial Development; Commercial Revenue Bond; Certificate of Participation . . ., .' . , . . Non-~gericy Lonffrerrn Debt . . Page 7 :12/2712006 ,;" :~8i~:~{~~~I~;'~i~t:'~~~~ii~~~~:fl!~I~~~'e~:iL,_', ~~cl~y!ljR~mi,~~1~i~li~i.~~jEi,~~,qgi~Jifr~li~~~tL9,~:~,!R~Rgnt;; '," " Non-Agency Long-Term' Debt Fiscal Year 12006 1 Project Area Name Irown Center I/Bayfront Project Area' f.orYofard from Prior Year t::::,~:,iS--:-"'~~;:::;'lf~:~"< I Bo~d Type fMortgage Revenue Bonds Year-of Authorization I 20051 Principal Amount Authorized I 1,715,000 I Princip?lIAmounl Issued I 1,715,000 I Purpose of Issu,e To fund Ranch Vista Apartments Construction Maturity Date Ending Year Principal Amount Unmatured Beginning of Fiscal Year Adjustment Made During Year Adjustment Explanation Principal Amount Issued During Fiscal Year Principal Amount. Matured During FiscalYear PrJ.ncipal Amourt Defeased During Fiscal Year. Principal Amount U~matured End of Fiscal Year Princ!p~1 Amount in Default Interest. in Default [ I L----- 1 I I I 1 I ~1,705,OOO I I 20051 20351 J 1 Maturity Date Beginning Year 1,715,000 I 10,000 I I J 1 1 . Elond Types AII~wed: M.ortgage Revenue; Induslr~al Development; Commercial Reven~e Bond; Certificate of Participation ,-... Page 8 12/27/2006 , Non-Agency Long-Term Debt ,.~" -. _ i ...''',_~:,; . ..... .." Si~Pf'Chula Y~~!~Redevelopmen.tAgency ; "'i">' ",J:';~~~~,~i!ioPTeni:A.'.9. E!H2ies'rin~r;aal Tra-n. ~act. i.p~~Ii~port ::-,;: ~,~!.~;;'::~'i:,~/: ";"_". . ,'r-;'. .. .. . Fiscal Year Proiect Area Name S.tatement of Income and Expei1ditures' ~ Revenues 12006 I' ~wn Center IIBayfrorit Project Area J Capital Project 'Funds . Debt Service Funds Low/Moderate Income Housing Funds Special Revenue/Other Funds Tob!! 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 Bon~ Administrative Fees OtherHevenues Total Revenues 1 I L J I I 1 1 1 I 1 L.-.- 1.959.6841 2.326.9931 I.'" $4.286.677 1 I I I 194,9771 I I I 1 443,0941 ......$9..1 ;9..1 .....~.J $0. I $794 452 : 156.381 , 1 I r-- 31,294 $31.294 , u , I I I ;0 , ! 1 I I ;0 : I I l .,.... n_._. $0 i r I I T $() ! L 1 1 1 $0, I I I I I $0 I r 83.798 I I 52,0671 $135.~65. J L J?48~~76.1.g521..9!oJ . $239,742L . ., ~0.1 ". $..5,248.?BU Statement of-Income and Expenditures - Revenues Page 1 12/27/2006 ;-".",.,. -'-'.. .-S,~(~f Chula Vilita RedevelopmeflJAgency ~~d~ve~opriient--Agel1c_i~~'Fi;:;a;:;2iaiT;:an~'a;;ii~lJr~eporic.- - ~ ; .,-.-..,-. . Statement of Income and Expenditures ~ Revenues Fiscal Year Proiect AreaName- [2006 [Town Center II, Otay Valley, Southwest Merged Project Areas Capital Project Funds Debt Service Funds . LowfModerate Income Housing Funds Special RevenuefOther Funds Total . Tax Increment Gross I 4,B60,3371 1,257,B66 I Ie I ___ J6,11.B,203 (Include All Apportionments) Special Supplemental Subvention I ~ I I L ~Q- ! Property Assessments I I ~ I I $0. I Sales and Use Tax I I I I I jQ I Transient Occupancy Tax I I -.J I I $0 I Interest Income I 2BB.OB1 I 14.B941 I l p02,97~ , ..I Rental Income ~ ~ -.J i I $0 I Lease Income 1 $0 ~ale. of Real Estate $0 Gain on "land Held for Resale $0 Federal Grants i i i I t ._JO Grants from Other Age.ncies i $0 Bond A.d-ministrative.Fees $0 J Other Revenues $0 ! Total Revenues L _ $5,11B~4_1.B__L_..~1,?!2,?~Q_J . _..$Q uL _._ _$0.1 . . $6.121,1.7B Statement of Income and Expenditures - Revenues _ Page 2- 12/27/2006 . . ,-_... .. ... .-". -..... .,. ...---- - -.-...- '..- ~,-_.-- .....-----_........,-.._--. City OfChLlla "isi:a~edevel()PnJ~,",(A~~!:I9Y ._ ,.. __'___,- _.~.__--:--- _:_~'__,_'_ .":",~-_:_'_'_:"'__~__~_:__-:-,'--": __ __ .~:_~.'~::_:::""'~~~:~:.._':"':"~::---e:: W,' "__-,..' Redevelopment Agencies Fin'!.ncial T[a!j~~c,tions.Report . -- -"- Fiscal Year ..ProjectArea Name Statement of Income and Expenditures - :E.~pendJ~ures 12006 I .!rown Centerl/Bavfroni Proiect Area Capital Project Funds Debt Service Funds Low/Moderate Special Income Housing Revenue/Other Administration Costs Total Professional Services Planning, Survey, mid Design Real Estate Purchases I I L I I I I I L- Acquisiti.on Expense Operation of Acquired Property Relocation Costs Relocation Payments Site Clearance Costs Projeot I~provement / Construction Costs I Disposal Costs Loss on DIsposition of Land Held for Resal.e . Statement of Income and Expenditures - Expenditures 2,020,558 I 311,829 I I I I I I 960,260 I I 432,767 I I I I 1~ I I I I I I I I I I Page 1 456,848 I 138,4911 I I I 7,821\ I I f I I I '- L I J L L =i I =1 I J $0 ' .- ....,- L . __.__..$0 _F-,-4.7U'.01l: __ ~4.61,~76_ $0___ $0_ .I $0 1 .. .H_,~~t J ___...__~o. .' $91l.0,260. J ___.lO.1 $432,71l.7 _ i 12/2712006 Redeve'9prn,ent AgenCies FirianCial Transactions Report Statement of Income and.Expenditures." Expenditures . ~006 I Itown Center I{Bavfront Project Area Fiscal Year Project Area .Name Decline in Value of Land Held fOf Resale Rehabilitation Costs Rehabilitalion Grants Interest Expense Fixed Asset Acquisitions . Subsidies to Low and Moderate Income .Housing Debt 1~5UanGeCosts Qther Expenditures Including Pass- ... . . ThroughPayment(s) D,ebt Princ.lpal Payments:- Tax Ailocatio.n Bonds ,and Notes. Revenue Bonds, Certificates' of Participatio~, Financing Authority Bonds . . Cily)Counly Advances and Loans All Other Long-Term Debl Total Expenditures Excess (Deficiency).Revenues over (under) Expenditures Citypf Chula Vista RedevelopmelllAgency -------,----_._~~ ..'-~-_-'._..._~ Capital Project Funds Low/Moderate Special Income Housing Revenue/Other Total Debt Service Funds L~570,00Q_j I~ol I I 570,000 I I I I I I I I 27,830 I J I _m ~4,6J 9,5!~ I $2,75B,687 u ~1,Q7~,3!l0 I I _J$2,133,0()3) I _\$236,717) . ($B36,638) J 1__ _ .$0-' 1 um.!l'?Q_, . _.1Q.J~__~8~~,6~6 J . ~(). J ._ ($3,206,3E.8) j .Statement of Income and Expenditures - Expenditures Page 2 1212712006 .... .... .. ._c::i~?~c::~~,I~Xi_s_taH~~~v=~R~!~:A.~~~c:Y _ __ ___ ::..'i~~9~velopmef1t'~!:l~ncies. fin~ncial Tral1s.act,ionsRepor't ::St.~.t~.m~nt .~f.1ncome and Ex;pen~itures' ~ Expendilures 12006 I .ITown Center II. Olav Vallev. Southwest Merued Proiect Areas Relocation Payments Sit~ Clearance Costs . Project 'Improvem~nt I C~n51ruciion Costs I . . Dlspo~al ~osts. Loss 01) Disposition of land Held for R~sale . . . -.>- ~:. < ....'0..... ''-';'"'' .:-'1.', Fiscal Year Pn;,ject Area Name Administration Costs Professional Services Planning, Survey, and Design Real Estat~ Purchases Acquisition Expense Operation of Acquired Property Relocation Costs Capital Project Funds Debt Service Funds Low/Moderate SpecIal Income Housing Revenue/Other 1,922,661 [ 156.7631 r--- I ] r I I I 471.753 [ I 3,5251 I ----..-J -I I I I I I I I 1 I ~ I I I I J I I I .-J ~tah~ment of.lncome and Expenditures - Expenditures , Page 3 J I I -.-J 1___ .._~i I I $0 ' . _ .._ ____ __J -I l- I. $471.;'53 J L--- _ __..l'1..-I _J _. _~_._!O_ j Total ~1,922.,1l61_.! .116(J.3_0~_': .. $D! __~QJ _ ~ _~_~!'L..; $Q: $0. 12/27/2005 City Of ChulaV!staR,edeveloPrnl!rt'/\9lincy . .. .R;d;v~'l)pmeniAgencie~Fi;;ancia,4';a~~iciicinsRepcJrt. - .', . ,:. -'.,;;,,:'.;'_.' .' " -.. ';-....'.. '. ," Fiscal Year Project Areil Name St.atement of Income and Expenditures - Expenditures 12006 r .. limn Genter II, Ot!!Y. Vallev. Southwest Mer<led Prolec! Areas Decline in Value of Land Held for Resale Rehabilitation Costs Rehabilitation Grants Interest Expense Fixed Asset Acq'ulsilions Subsidies to Low and Moderale Income Housing pebt Issuance Costs Other Expenditures Incl4ding Pass- Through Payment(s) '. Debt Pri~c~pal Pay:m~nts: Tax Allocation Bonds and Notes Revenue Bonds, Certificates of Participation, Financing Authority Bonds ~ity/County Advances and Loans All Other Long-Term Debl Total Expenditures Excess (Deficiency) Revenues over (under) Expenditures Capital Project Funds Spedal Revenue/Other Debt Service Funds Low/Moderate Income Housing I I 1 _I C=.-W~ I I I 1 1 I ~ -1 2,072,401 I I 1,532,2531 375,0001 I I I L_ __J3!i},lJOili I $0-' I $0_: I I I I L I I ____~ IUH _!O l L___---EL_1_I~J __~0_J_~~,5!~~U .._. -$g.J---.. _1~151,~0~U 27,170 I $4..0_9j,38!l__j ..._.l2,47.~,0()d... _$1,05~~:J3l. (~1,205,336) I Page 4 1212712006 Statement of Income and Expenditures - Expenditures . citY Of Chula Vista Redev~lopmen~;Agency .'..,,~,' 1 . Red~"elopmentA!!erlcies.Finan~IaITransactions Report Sta.teme':lt of Income and ,Expenditures ~ Other Financing Sources . , . . Fiscal Year Project Area Name. [2006 [Town Center I/Bavfront Project Area Capital Project Funds Debt Service Funds Low/Moderate Special Income Housing Revenue/Other Total L _ $586,76.9 I----.---~g I I 1...l2(j1,8()(;. : L I I I I L .. ..~F<l.1,1i8U $0. J Proceeds of Long-Term Debt Proceeds of Refunding Bonds Payment to Refunded Bond Escrow Agent Advances from City/County . Sale of Fixed Assets 586,769 I I I I 201,805 I -15.328 [ 251,8541 ~ -146,366\ $0 I .---.--.' {$161 ,99.4) Miscel!aneous Financing Sources (Uses) Operating Transfers In Tax increment Transfers In Operating Transfers Out 1 1,988,2281 I $1,968.228 .i __. . g51,~54. . ~2~1 ,854 .J 251,854 I 744.5871 Tax Increment Transfers Out (To the Low and Moderate Income Housing Fund) Total Qther Financing Sources (Uses) 1_ .~. .." ~?f3.,?9~ _ .1.- .($50,049) I ~1,B21,862 J $01. .... .J1,8pO,521 .! Statement of Income and Expendilures - Other Financing Sources. Page 1 12/2712006 Fiscal Year Project Area Name' Equity, Beginning of Period Prior Period Adjustments Residual Equity Transfers other(Speclfy) II Total . Other Taial Equity, End of Period Regeve,l(Jpment Agilnci~sFjnancialTransactionsReport . City OfChLila Vista RegeYi!I!ipment Agency " -..-'-' ,.., Slalemenl of Income and Expendilures - other Financing Sources 12006 IT own Center IIBavfront Project Area Capital Project Funds Debt Service . LowlModerate Special Funds Income HousIng Revenue/Other ~ Total $0 I ($1,355,837) !. :B;f.~;~h 'I I ..E)u~ess (Deficiency) ,of Revenues and L. -'~2,O_~_~!~~_~) J- Other Financing Sources oyer Expenditures and Other Financing' Uses ($286,766)1- .. $985,224 .14,2B2,?36 1-- -54:9481 l1J;,789,260 .. L I I L I I $11..8D7~~:J.._l_.. -5,105,730 I A B . C I I I : ~UM ...~... JIl..I__J32JlL9.,.IJ.!l!U I ($5,1.6.0,6.76."1 J $0 D E I II ..1 ,I 11- , ..I L_$1,~7,lJ6.8_J..13,9.40,5?2 .1...._:>'1..7,1'0,4841 . ",Statement o~ Income and Expenditures -Other Fi~anGing Sources Page 2 ! $01 $26,362,~74 ..1 1212712006 City Of Chula Vis~!IRedev~lopm~nt Agency Redevelopment;Agen~ies.FinanciaITransactions RePQrf.. . . . . ~... ..' ..' .' .,' ',> '".,' ' , . <. "~" . ,; . Fiscal Year. Project Area Name. . P~oceed5 of Long-Term Debt Proceeds of Refunding Bonds Payment to Refunded Bond Escrow AgenL Advances from City/County Sale of Fixed Assets Miscellaneous Financing Sources (Uses) Operating Transfers In" Tax Increma;nt Transfers In Operating Transfers Out Tax Increment Transfers Out (To the Low and Moderate Income Housing Fund) Total Other Financing Sources (Uses) Statement of Income and Expenditures - Other Financing Sources [2006 [Town Center II. Otav Vallev. Southwest Merged Proiect Areas C;:apltal Project Funds Debt Service Low/Moderate Special Funds Income ~ouslng Revenue/Other L-_ [ I 1 1 [ L 343,231 1 I -I 1 [ I I 1 I [ [ I .1,954,643 -1,137,398 -1,095 1,081,009 1,081,0091 1,223,641 1 Total L ____~343p1_ I $0 \ ---'----- ..- -.--, L I I I '-.~~,081,009 I $0 1__.l!,081,009 .1 1_.~J.2.23..611; $0 ~1 ,954,643.., $0 ($1,!3.8,1931 i ($1,962;511) J _$1,898,2541 $0 I. $~J . ___{$64,2_60)) Statement of Income and Expenditures - Olher FinancIng Sources Page 3 12/2712006 , \CityOfChula Vista -Redllvel()pment Agency ,.' -. .-"." .",- -.> RedevelopmentA'genciesFlnan~ial TrllrlsactionsRElPort .- '<-- --.-.. ".'" '.' : Fiscal Year Project Area Name Statement of Income and Expenditures - Other Financing Sources 12006 ITown Cepter II. Olav Vallev. Southwest MerQed Proiect Areas Capital Project Funds Low/Moderate Special Income Housing RevenuefOther Debt Service Funds Total $P J $01 $692,918 J Excess .(Deficiency) of Revenues and l', Other-Financing Sources-over Expenditu-~es and Other Financing Uses ($908,481) I '. 1$215,563) Equity, Beginning of Period $7,818,154,1 ' 11 I $805,3.Cl.1J__ $lJ.i1d1B_J_._u,._,.J~L .$.1.1l,fl.64,77.3..; -5,876,57.1J I ,1$5,876,5?0) , 1 $O,! Prior Period Adjustments Residual Equity Transfers other(Specify) " B C 0 I ~, I II II E II .~ I .JI Total l 'OtherTolal II . _.J Equity. End,,! Period $4,872,l!40.J ,F..3,41.,,31I!.J $0 1 $~,909,~74 , (~4,378,352) l :-R~fr~~-h -,~ . . ,,-, I Statement of Income and Expenditures' - Other Financing Sources Page 4 1212712006 . Ci!;y Of ChulaVista Redev~loprnentAgency . . -- -. -.- . . RedeveI9prnentAgenci~s.Fi~anciaITransacti~ns Report Balance Sheet - Assets and other Debits Fiscal Year 2006 Capital Projects . Debt Servic.e Funds Funds low/Moderate Income Housing Funds Special Revenue/Other Funds General Long- Term Debt General Fixed Assets Total Assets and Other Debits. Cash and Imprest Cash. Cash with Fiscal Agent Tax Increments Receivable Accounts Receivable Accr~edlntere5t Receivable Loans Receivable .I~ C.ontracts Receivable I Lease-Payments Receivable L Unearned Finance Charge L Due from Capital Projects F~nd I.. Due from Debt Service Fund Due from Low/Moderate Income Housing Fund Due from Special Revenue/other Funds 5,502,0571 195,2741 505,9261 13,2941 6,524,160 I 1 I r I I I 2,560,362 I 1 1 9,023 [ 1 ~- I 1 ~ I J ~ Balance Sheel- Assets and Other Debits 4,467,612-1 47,2691 1,3271 16,646 1 13,514,236 I l 1 I I 1 I Page 1 I - I"" I I Ie I L 1 I I__ I I I -I . ..1. " j I I I I I 1 '. L. L r I t L '.~.. -J J ':J 1 I. J -J ._~J I I -. 12/2712006 -_$Q.! .l12,l)~O,?!i!. J . $213,5631 $507,253, j $10,9~J $20,036,4 \6 .J ___'QI ._____JQ_.1 '0 ! __..JQ_I $0 J $Li $0 I .. " City 'OfpI1UliiVi;t~;Re.~e~~ioPIn'ent Agency Redevelopment Agehi:iesFinaricial Transactions Report . Balance Sheet- Assets and Other Debits Fiscal Year 2006 Capital Projects Funds Debt Service Funds Low/Moderate' Income Hquslng Funds Special RevenuefOther Funds General Long~ Term Debt General Fixed Assets Total Investments I 716,6271 Other As'sets ,. I I Investments: Land Held for I 2,260,925 I Hesale Allowance for Decline In I' Value of Land Held for Resale Fixed Assets: Land, I..... J> Structures, and Improvements 3,920,044 I If I'. I ~ I I I . 'J 'L .) "1 ,-- --_.._.~q, ~6,836,3.95. j $0 I ....-~----- 2,199,724 I I I .$2,260,925. J '. _.1 I I 10,226-:DiOJ. . $10,226,010 L~..'. 308,873.1 6,016,7151J 64,145,5971~ I . .~~OB,BlLi ~6,016,715 ' Equipment I Amount Available In Debl I' Service Fund Amount to be Provided far c= ~ -., Paym~nt of Long-Term Debt I J I 'I -I $64,145,597 Total Assets and Other Debits (Must Equal" Total Liabilities, Other9redi~s, and Equities) $15,71!1,283 . . ~4,769,12~ ~21,969,35B ~O FO,162,3.12 $10,534,883 $1~3,154:,B65 Balance Sheet - Assets and Other Debits Page 2 1212712006 .City OfCIJ~I~ VistaR!l~~y~l()p";'ert Agency -__._"_._,._.,~~,--:___.~:>:--.:-:_.,..", -~C'~-'---~'."""'-,'-'-':- "~-~, '-"--'-'~-'.- -Redevelopment AgenciesiFinancial Tramiac.tiorll~Report Balance Sheet - LIabilities and other Credits Capital Projects Funds Debt Service Funds Low/Moderate Incoine Housing Funds Special RevenuelOther Funds General Long- Term Debt General Fixed Assets Total Fiscal Year 2006 liabilities and Other Credits ., :ACCOUl;ts Payable 837,060' : : 57,999 :- lnterest'Payable Tax Anticipati~n :N~te5 payable" I ] I Loans Payable I I I Other LIabilities 3,324,9811 5,206,959 I 1,795,5571 Due to Capital Projects Fund I I I Due to 'Debt Service Fund' I I I Due to Low/Moderate ~ I I Income Housing Fund Due 'to Special I I I Revenue/Other Funds Tax Allocation Bonds Payable I I .t.' I Lease Revenue, Certificates I I '.,L I of Par1icipation Payable, Financing Authority Bonds i- F. I l I,,>.,'."',; I: 1___ L -"eL I 'I . ." .. -- -- , --, ,,- .. .~ ~~~~~I"'~' :"",:.1 : "...'..L I. I'" I' '"'J ::...J ".1 ' . =1 I ".:1 I L L I $895,059 ,$0 f. $2 ~O ~10,3P,197 .' u$O $.0 $0 m $O.J 40,295,000 I . I . J40,295,OQ,1L.1 ....u1.o.. i All Other Long-Term Debt Total liabilities and Other Credits I I 29,867,312 Lc',' J $29,867,312 I I $0 J - $!O,162,312 I' I $81,.384"868.J I ::_ ~,~ ".lel: ._.~~.,_:' :. Jf;~':.',.:' , 1.$4,162,241..1. __$5,~Og,959 1..$1,85},556 Balanae Sheet - Liabilities and Other Credits Page 1 12/2712006 Fiscal Year 2006 Equities Investment In Gel.leral Fix~d Ass,ets 'Fund Balance .Reserved Fund Balance . -Unreserved-Designated FundBalance . '-Unreserved-Undesignated Total E':Iultles Total Liabilities, Other Credits, and Equities . City O!q~ulilYJ~ta R~dey~IRPHf~!lti~genc::y , R~de;;eiQP0:e-ni:~Agencies"f,ina-nciaiiTran~actjon;Rep(lrt Balance Sheet - Liabilities and Other Credits Capital Projects Funds Debt Service Funds low/Moderate Income Housing Funds General Long- T enn Debt --.,-',. General Fixed Assets Total Special Revenue/Other Funds I" ....-,:. I L I , 7,1 01.627l 4,769,1291 11,630,331 1 I' 6,801,098 I I 8,285,471 1 _I .2,344,883 I .5,206,9591 L I ~11 ,55~.~42 1 ($437,830) $20,115,802 $0 L $15.]19,2831 . $4.769,129J Fl,969.3!j8.J . $0 t.. $70,162,3121 , I 10,534,8831 $10,534,883. ,~ J $23,700,487 I' ~.$1~,086,5fj9 ,I " "I ,($7,551,8,,2); ~ $10,534,883 I $41,77{JLO!j7 J $10,534,8831 $123,!~4,~6E..i Balance Sh'eet - Liabilities and Other Credits Page 2 c 12/27/2006 . - -.----- --.- City Of Chula Vista RedevlllopmElllt Age,ncy . Rlldevelt'llment AgenciEls 'F.il1aricial Trall~~c;~.!~l1sReJlort St~tement of Income and Expenditures ~ Summary, Combined Transfers In/Out Fiscal Year 2006 Operating Transfers In l. $1,33~,U63 L $1,9_68.,?2LI Ln . $1,332,B63J I .n J1,98.~,22B J Tax Increment Transfers In 'pperatlng Transfers Out Tax Increment Transfers Out 'State'm~ntof--Income and E~p_e~ditu;es - S~mrhary, Oombined Tran.sfer.s ,In/Out, . Page 1 12/27/2006 . .Flscal Year 2006 Tax Increment Gross .Special Supplemental ~ubvention " Prop~rty Asse9sme~ts Sales and Use Tax TransietJt Occupancy Ta~ " l"nteresUncome 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 " ReYElOues - Consolida!ed City Of Chula Vista Redevelopment Agency Redevelopment Agencies Financial Trans.actions Report Statement of Income and Expenditures Jo_l $0 J _$01 . _$0. J _EL$O_I _$0 I .. ___ lol L__u$oJ _ $0 I E0.9,871 _ L___$156,3~1 -1- __$oJ $9 L-- _ E1,;111.4J _ ~o j $31,291 $01. .____$0-1___ _ ___$_0_-1__ _ $0_1-_$_01 ____)0-1__ JO_! _ _m_$Q.I$oJ _ ..$o.I____-so.1 $01- sol .$oJ______J.Q.....I____~L----__.1.O"J L-- _ - _ ___$.9 -.1-- $O_J_____$O J _. $0.1 n_n ___ . $0 J L- _ _ _ ~3,?!ll!..L---- $9_1 .1.5?,Q.6L L __ _____$_Q.l__$135,865.1 LJ7,63_4,~94J__ $~7!l.4,7_30L . _E~!lX42 J._$ll...L!11,669,466--.1 I I L. L- L I Ln L-- L L- I. L- Revenues ~ Consolidated Captlal Project Funds Low/Moderate Income Housing Funds Special Revenue/Other Funds Debt Service Funds $6,820,021L .____E._L $.0._1.__ -- __$0.1_ --$0.1_ _Jl31,17~J . _$O_lm $9_L_____ _$0.1._ -----$o.J- .__sd --~-J L I- $0...1 _$OJn __$0_ _$3,[>84,859 _$0 Page 1 Total $10,404,680_.1 _ _ ._.JO._J $0 I $0 ' ---~ $0 I _ $\097,427 I $0 I $OJ $O[ 12/27/2006 City Of Chula Vista. Redevelopment Agency Redevelopment Agencies Financial Transactions Report Statement of Income and Expenditures Expenditures - Consolidated Fiscal Year 2006 Administration Costs Professional Services' .. PI~nnlng. Survey, an'd Design Real Estate P-urch.ases A.cq"ulsltlon. E:xp.ense Operation-of Acquired Property Relocation Costs Relocation Payments Site ~Iearance Costs ProJettlmprovement I Construction Costs Disposal Costs . Loss on Disposition of Land Held for-Resale . "Experidilure~ -Consolidated J4~6,~4BJ $OL.3i,iD!l,06~1 .... _$1J_M~1_1._.$.oJ._ _$.l@~B!l4J L----.1Q...J-------.. $.o...J _._____.$.0.-1 --------jlC.I-_____.~_1 .__$0_ J ___-'___ _. _$0 J--------~L . _ .$qL '_ ___3.9.....1______ JoJ________~--l- .~____~ _I. '1 __"__.$.ilJ_,_ - - ..$()_I___~E,B_~1.J _ _. __$Il_ L 1____ _____$.oJ_____ .JoJ_:.....____.lD_.l.. ____$O_J L__J.~f!<l,~L-------$OL ..._$_oJ. ___.$0.1 L_~.3Q._L-_-__-nWl---- .....$ilL___$_oj I $9o.4,52(j J . $0 J____-.li(j J _ $2 .I I $0 . i ....___ $01. ___ -__$ilL. i ____$!l L _ $0 L $01 Capital Projects Funds . Low/Moderate Income Housing Funds Special RevenuelOther Funds Debt Service Funds L_~,943,2..1~_L_______ loJ I uu_j46ll,6.12uJ u._EUIl!.J. L- L.. nu.3.o.J_ $01 Page 1 Total $.D...! ~O! ___.__'IT..Il~l_J ___._$0..1 $960....260 .J $0 I _$904,520 I _~o J $0 I 12127/2006 City Of Chula Vista Redevelopment Agency Redevelopment Agencies Financial Transactions Report Statement of Income and Expenditures Expenditures - Consolidated Fiscal Year 2006 Decline In Value of land Held for Resale Rehabilitation Costs Rehabilitation Grants . Interest Expense FIXed Asset Acquisitions Subsidies to Low and Moderate ."Income .Housing Fund' D~bt Issuance Costs O~her Expenditures Including Pass Through Paymentls) Cept Principal Payments: Capital Projects Funds Debt ServiGe Funds Low/Moderate Income Housing Funds Spoclal Revenue/Other Funds Total A B c o E I I ..~~J L___.___~o_l . L F9,~3~ J t ~(U-- 1.$qJ ..$0 I. .~OJ $0_ J L $0 I L_____~.!l."_,I1?J-_ 1_$01 1-- _$37_~5()8 J . $D l_~o ,___ _$0--1 .JQ:.J JO .1__ $()_J J_O I :'___$_~~.?_1.?.J $0 1$~,24B,63U ... _. ... _ __Jo_l__E76,~QLJ ..-$()J-. ~O --$() $~,219,0(J2 ~O ~OJ tn_______~oJ I . - E,4Qz.719 -.I J()_L__ _______$0 J $01_ $oJ _~O J $0_1 $_Oj $2,407,71.9 J L i Clty{Co~nty Advan~_es and ,Loans t~.- U.S., State and' Other Long-Term Debt L.-" Tax Allocation Bonds and Notes . Revenue- Bon.ds. and Certificates of Participat!on .Total Expenditures Excess (Defic;;lency) Revenues ~)yer (Under) Expelldltures ~xpen!:ljtures-'- 'Cons.olidated' _ ~o_J uf9~5,00() J .c..gJ_L.._______JgJ________ ~Ol ~oJ fO J .J>O_I. .. JIJ_L ...... _~_.~ll..i ---_---.J(),J. .. .__$E.~,ll01l.1 . ___~o_J_ __ _._f!l.45,OOO -$gL--___$() ..i _JU _$0_1. . $0 I . .----.--- -'---.-.- .. _$~5"000J ._ ______.$6,!131Jlt4_. '- . u (tl,07B,97D)J $5,2~6,763_ . . ($1,442,053) L n .. J_1,()Ii',_3~_0_ . J$036,6_3B)I : . JO ..~o 1 .._$1~,027,12.7._ . ($3'~0~6!U Page 2 1212712006 City Of Chula Vista Redevelopment Agency Redevelopment Agencies Financial Transactions Report Statement of Income and Expenditures Expenditures. Consolidated . Fiscal Year 2096 Capital Projects. Funds Debt Service Funds Low/Moderate Income Housing Funds Special Revenue/Other Funds Total Administration Costs L _~~,9~:J,2:J9 L ..... 10_1 Professional Services L l4.68,~1? .' L ~17.7B1 J Planning, Survey, and Design L . ___~O J __~O J Real Estate Purchase~ t.. _,__lQ I ~oJ_ Acquisition Expense t $0 L J!lL ..:. Operation "of Acquired Property I -- --__$QJ JoJ . . Relocation Costs I ~oJ $oJ_ Re~ocation Payments L ~960,260 I $0 L Site Clearance Costs L- ___u~OJ ._$0 J Project !mproveme~t I Construction I $~~,~O_L _~O J Costs Disposal G05~ I Jo_..L__ $01 Loss on Dispo~ition of Land Held I JoL $oJ .: -for Resale ~~L-- _$1:J~!l.:d.._ $0.1 . __Un n $0_.1 n ___$0_1- _JZ,B?1_L -~Q J -$d----- $Q I $OJ _ ___ _,$oJ .-$Q. -L .$.OJ . ...$2. I $0 J $QJ . $QJ--- __F,~2d .$01. IQ__L___$p.!!.OJ260 .i _$0 1$0 $O_L $4,400LoQL_. __.$!i?4,~4J J~_J _~~ J _..~. J~_'!. J $904,520 u$(j L .. .. $0 I $0 ~o 1 $0 I $0.1 Expenditures - Consolidated Page 1 12/27/2006 City Of Chula Vista Redevelopment Agency Redevelopment Agencies Financial Transactions Report Statement of Income and Expenditures Expenditures - Consolidated 1----- __~J----1.91~,QOOJ. ''tol . $oJ City/County Advances and Loans ~ U.S., State and Other Long-Term Debt ~m Fiscal Year 2006 Decline in Value of Land Held for Resale RehaQilitatio~ Costs Rehabilitation Grants l!1terest Expense Fixed Asset Acquisitions . Subsidies to Low and Moderate Income Housing Fun.d Debt Issuance Costs. Other ~xpenditureslncluding Pass Through Paymentls) . Debt Prlnoipal" p'ayments:. Tax Allocation Bonds and Notes . Revenue Bonds and Ce.rtifh;ates of Participation Total Expenditures Excess (Deficiency) Revenues . Over (Under) Expenditures . ~xpenditures - Consolidated .n . _~_O.J_ .. ~o .1<1.1.:..________$0 'Capital Projects Funds Debt Service Funds A B L I Id I L I LJo._L_ I.... g407~r.19_ J- . ~O I .....__..$_0. L ~o_ I .g9,~3<l. I- .. .$OJ_ JoJ $0 J ~ol. $0 J .$4,219,0021 $0_1 .. .. $0 I I L . $0_-'_ ....$0-1_ $B,713,9~ J . ($1,oJB,~IO) L .._ $9-1 _ _J55,00tJl ..L L . $.5,;!36, 7B~ ... m,44?o_531 Page 2 Low/Moderate Income Housing Funds Spechil Revenue/Other Funds. Total" c o E .$01 JOJ. $0 L .. $0-1 . $0 J .~o.J ~Q L. $tJl... ..$0.1 .$9_.1__ $2,19L71!U . $01 $0_1... . _.$~6,7~ J .. $0_1 $376,508 L .. .... $0.1 I L $[) $gfiJ_l~ _$4,248,636 1 . . ~37fi.~0_U $0.; _~__.._$9L~_n_ __.$.0.1 $oJ ~ol . _..,_...J.~:I~I09..-0..J , ._._~OJ ~OJ _$9_ L $1,07..6.,3!IO..l .t$B3.6,6~B).J_. . -_$9_1 $0 ! _ _ __ $0 J .. 1.55,90Q..! $0 J ._m,ll?7,127J . .JO. I.. (~:J,35I.fifi1) i 12/27/2006 I I I ,__ ___ _ J9-J. ~2,156,44B J 1----- JOJ ... . lo1 Miscellaneous Financing Sources (Use5)1_ . __ _ _(~16~?~LI_ __ _1~1,_,!_3ZJ~_~_6L.I. L___E5J,IJ!>LI__ _$1,lJ~1,009L Fiscal Year 2006 .~r.oc~eds of Long-Term Debt Proceed~ of Refunding Bonds PaYlJ1ent to ,Refunded Bond Escrow- . Agent Advances from City/County Sale of Fixed Assets Operating Transfers In 'Tax Increment Transfers In . Operating Transfers Out Tax Increment Transfers Out (To the Low and Moderate Income Housing Fund) T.ota,1 Other Financing Sources-{Uses) Other Financing Sources (Us(!s}-.Consolidaled City Of Chula Vista Redevelopment Agency Redevelopment Agencies Financial Transactions Report Statement of Income and Expenditures Other Financing Sources (Uses) - Consolidated Capital Projects Funds Low/Moderate Income Hau.slng Funds Special Revenue/Other Funds Debt Service Funds . --$(jJ-- l $0 I $0 I $0 - - ---::..-:' -:--- --:: J- ~~51,854 1 ..~.1,081.,~9._J... $1,968,228 J $01 $0 ','"'' L __($1,883,8()~LL $1,848,2051_$1,821,862 -' _.. $0. Page 1 Total .. . ~930,0()0., $0 \. $0 ..$1,968.,228.. J $1,78.6,261 12/27/2006 City Of Chula Vista Redevelopment Agency Redevelopment Agencies Financial Transactions Report Statement of Income and Expenditures other Financing Sources (Uses) - Consolidated Capital Projects Funds Debt Service Funds Low/Moderate Income Hou!;Iing Funds Special Revenue/Other Funds . Total A B E C D Excess (Deficiency) of Revenues and L .(~2\~6.2.,?X6L.1 Other Financing Sources over Expenditures and Other Fin,ancing Uses $0_ I _ ($1,571,400) , . .$406,152 $98:;,224 I J19"~2.~,:r1:r. I :(~5_,1 05,7;1.9) I _$0 L__1o. t __ .J11,~57,24_2 I i I 1-.. --- - L 15,087,537 J ___~1~,1~()'!i?_8__L ___JQ.J___J~,Il:l3,fl6.2__! (~5,931,51 g) I $0 I $0 I(~ 1,0.37,248) , $0 1____!q_LcJ_o./ ~q L-_n__ jO 1- .$.0 1 _J~437,830) '--_12.0,115,8.02_ L _10 J _$~1,~3_5,21_U ,Equity Beginning of Period Prior Year Adju!;itments Residual Equity Transfers _._.~9 ,I Other (Explain) . - . Equity, End .of period $0 I _...._....n._ ..__.1 Otlier Financing Sources (Us~s) - Consolidated Page 2 12/2712006 ~V?- ' :- -~ : ~~~~ .;:-~----- - - -- CllY OF CHULA VISTA FINANCE DEPARTMENT BLIGHT PROGRESS REPORT PURSUANT TO HEALTH AND SAFETY CODE SECTION 33080.1 Cd) PREPARED BY: Redevelopment Agency of the City of Chula Vista December 2006 Introduction Pursuant to Health and Safety Code Section 33080.1 [d). the Redevelopment Agency of the City of Chula Vista has completed a Blight Progress Report for fiscal year 2006 [July 2005 through June 2006). The Report describes activities conducted by the Agency in alleviating blight in the BayfrontjTown Centre I Merged Project Area, and the Merged , Chula Vista Redevelopment Project Area. The Report also describes activities associated with Low and Moderate Income Housing, which are covered separately and in greater detail in the annual Housing Activities Report. The following Provides a summary of the major actions and expenditures that have taken place during fiscal year 2006, but does not discuss the extensive day-to-day work activities of the Agency in alleviating blight. MajOr Actions: CHULA VISTA MERGED REDEVELOPMENT PROJECT AREA , Expenditures: Formation of the Chula Vista Redevelopment Corporation Five Year Implementation Plan adopted [2005-2009) Public outreach and education - Redevelopment Road show Educational Revenue Augmentation Fund [ERAF) loan agreement' ChulaVistaToyota Dealership completed and opened Payless Car Sales completed and opened South Bay Motor sports under construction Chrysler-Dodge-Jeep Dealership completed and opened Panda Express and Souplantation completed on Main St. Entered into two Exclusive Negotiating Agreements on ESt. Professional/Specialized Services .................................... $156,784 Administrative .....:............................................................ $2,481 ,644 Capital Outlay/CIP Expenditure ..........:........................... $471 ,752 Transfers out..."...................................,..:.....................,..... $1 091 ,222 TOTAL .:..........,.~.~...,.................. $4.201 ,402 .' '276 FOURTH AVENUE. CHULA VISTA. CALIFORNIA 91910. (619)691-6051' FAX (619) 5B5-56B5 . @ Post C~n5um~r RecYcled Paper . Major Actions: i Expenditures: I . Major Actions: Expenditures: Blight Progress Report...: December 2006 Page 2 MERGED BAY FRONT/TOWN CENTRE I PROJECT AREA Formation of the Chula Vista Redevelopment Corporation Five Year Implementation Plan adopted (2005-2009) Public outreach and education - Redevelopment Road show Educational Revenue Augmentation Fund [ERAF) loan agreement Joint SD Port/City Bayfront Master'Planning effort underway Phase II of the Gateway Office/Retail Project. completed Town Centre Iland use Amendment underway Downtown Parking Study RFP issued Entered into five Exclusive Negotiating Agreements for properties in the Downtown Urban Core . Professional/Specialized Services .................................... $311,828 Administrative .................. ....... ................ ............. ............ $3,874,980 Capital Outlay /CIP Expenditures ..................................... $432,7 67 Transfers Out .................................................... .................. .... $18,065 TOTAL ........................... $4,637,640 LOW AND MODERATE INCOME HOUSING Seniors on Broadway [MAAC) started construction - 41 units Main Plaza/Brisa del Mar completed - 106 units Exclusive Negotiating Agreement for affordable housing project at 1501 Broadwav Professional/Specialized Services .................................... $138,491 Ad ministrative ..................................................................... $303,029 Capital Outlay/CIP Expenditures ..................................... $384,329 Transfers Out............................................................................ $3,404 . TOTAL.............:................ $829,253 ~(ft- :--dt_= ----- ~~~~ ~- --~ CllY OF CHUlA VISTA FINANCE DEPARTMENT CITY OF CHULA VISTA REDEVELOPMENT AGENCY LOAN REPORT PER HEALTH & SAFETY CODE SECTION 33080.1(e) I une 30, 2006 At Iune 30, 2006, the Redevelopment Agency Low & Mod Housing had the following loans receivable: Cumulative Principal Interest Total South Bay COID.n1unity Services $ 887,995 $ 170,787 $ 1,058,782 Community Housing Improvement Program (CHJP) 2,067,933 196,402 2,264,335 Civic Center Barrio Housing Corp 242,844 242,B44 Orange Tree Mobile Home Park. 55,952 55,952 Chelsea Invesbllent CorpjSunbow 1,662,152 61B,327 2,2B0,~79 Alpha ill Dev, Inc. (Main Plaza, LP) 1,500,000 67,479 1,567,479 SOUtil Bay Co=unity Villas, L.P. ~,400,000 601,709 5,001,709 Rancho Vista Housing 1,000,000 42,65B 1,042,658 Total $ 11,816,876 $ 1,697;362 $ 13,514,238 The teffi1S of these loan receivables are governed by individual agreements between the developers and the Agency. None of the above loans are in default . . 276 FOURTH AVENUE' CHULA VISTA' CALIFORNIA 91!i10 ~(619) 691-5051~FAX (619) 585-5685 . 17>-_ .-...; ~~lt- ~....- -= ~ - ~- ~~-~~ - - ~~ CllY OF CHUlA VISTA FINANCE DEPARTMENT CITY OF CHUL~ VISTA REDEVELOPMENT AGENCY PROPERTY REPORT PER HEALTH AND SAFETY CODE SECTION 33080.1(f) June 30,2006 Land Inventory $ 7,617,884 Land Held for Resale 2,260,925 Building 2,608,126 Equipment 308,873 Total $ 12,795,808 . . . . . . .' . . . . . . . . . , . . . - . . '". - . . .. . - '. ,. 276 FOURTH AVENUE . CHULA VISTA' CALlFgRNIA91910 . (619) 691-5051' FAX (619)'585-5685 .ro. ,,~... ""~_.,,__""_.._I.....r ;,~_~" RDA Reporting System - Project Area General Info -.~::2 - ,- Page I of ] A IT ACHMENT 3 California Depart'TIent of Housing and Community Development Reo16velopment Agency Reporting System General Project Area Information Sch A, p1 '"au are Here:.Select Year> Schedule I\lienu > Proiect Area Selector> Proiect Area ActivitY Menu > ~roject Area General Info ,,- I ~j ~ << Previous Page . Admin Agency:CHULA VISTA RDA Fiscal Year :2DD5J2DD6 Prepared by: Ronie Roble . Select Ye.r For Project Area: fliiERGED PROJECT AREA . FAQ . User Info . Status 1.a Project Area Information . Print . Logout 1. Year plan for project area was adopted: ~2~ 12DO~__ ~~ ~~ 2. Year that plan was last amended (if applicable): -'. Was Plan amended after 200lto extend time limits per Senate Bill 21 I (Chapter 741, Statutes of2001)?: 4. Current expiration of redevelopment plan: !fthe redevelopment plan for the subject project area was adopted before 1/1/76, and the agency has elected to apply all or part of Section 33413, identify the resolution date and scope (elected provisions).: HelD? Date: (mmldd/yyyy)' L_ . Note: !f dd for the date is not available assume 01 Scope: I ~ ___..:J Save I Recleve!opme~t Agency Reporting System - General Project Area Information California DeparLffient of Housing and Community Develoj)ment https://ssw2.hcd.ca.govIRDAleditProjectAreaGeneralInfo.jsp 12/2R/2001i RDA Reporting System - Change Name Page 1 of ] Ca!ifomia Department of Housing and Commtlhtt:y Development ~. =~: 000 'i: Re(ievebpmerrt Agency Reporting System Project Area Name Change Sch A, p1 ou are Here: Select Year> Schedule Menu> Proiect Area Selector> Proiect Area Activity Menu> Change Name <<. Previolls Page . Admin Agency:CHULA VISTA RDA Fiscal Year :200512006 Prepared by: Ronie Roble . Select Vear For Projed Area:MERGED PROJECT AREA . FAa . User Info Project Area Name s llccessfuHy changed 1. Project Area Information . Status . Pr[nt . Logout b. USe this form to change the name of the current project area. Enter the new project area name: ~ER~~~R9JEC:r_AREA _________ Change I Redevelopment Agency Reporting System - Project Area Name Change California Department of Housinf:'! and Community Development https:l/ssw2.hed.ea.gov/RDAJpTo;eetAreaServlet.srv 17!?R/?OO RDA Reporting System - Housing Fund Revenues Page 1 of:; Calrfomie Department of Housing and Communrty Development Recle..e~Olpmel1t Agency Repornng System Housing Fund Revenues & Other Resources Sch A. p2 'ou are Here: Select Year> Schedule Menu> Proiect Area Selector> Proiect Area Activitv > Housing- Fund Revenues -'i: . Admin Agency:CHULA VISTA RDA Fiscal Year :2D05l2006 For Project Area:MERGED PROJECT AREA Pnepaned by: Ronie Roble .<< Previous Page . Select Year 3. Project Area Housing Fund Revenues and Other Sources Instructions NOTE: Expenditures for debt service(HCD-C (Page 2, Line 4c.)) should ba reported on Agency-wide Financial Informetion 4c. . FAQ . User Info . Status . Print a. Tax Increment . Logout (1) 100% of Gross: (2) Calculate Only 1 set-aside amount (either (A) or (B) below): (!, (Al Minimum Deposit required by 33334.2 (Gross x 20%): 1$6,118,204 1$\22~~~__ C (B) Minimum Deposit required by 33333.1 O(g) (Senate Bill 211, Chapter 741, Statutes of 2001 )(Gross x 30%): (3) Tax Increment Allocated to Housing Fund: 1$1,223,641 If less than 20% of the Gross Tax Increment (see (2) above) Is being set aside in this project area in accordance with Section 33334.3(1); identify the project area(s) contributing the difference in the box below: Or . Expiain below if less than 20% is being set aside for any other reason: L L ~ -=J Less: (4) Amount Exempted* : (5) Amount Deferred' : (1~9.____ ) (1$0 ) . If Amount Exempted or Amount Deferred is entered, after you SAVE, you need to go to Project Area Activity Menu and select Exemption(s) And/Or Deferral(s) to enter Sch A data. (6) Total Deposit to the Housing Fund [Calculated from above, (3) - (4) - (5)] .l!1,223,641 b. Interest Income: c. Rental/Lease Income: L____ I I I I 1$0 I I I d. Sale of Real Estate: e. Grants: f. Bond Administrative Fees: g. Repayment of Prior Year Deferrals: h. Loan Repayments: i. Debt Proceeds: j. Other Revenue: (S pecify) https://ssw2.hcd.ca.gov/RDAladdEditHousingFundRevenues. i so 12/28/200 RDA Reporting System - Housing Fund Revenues Page 2 of2 I____________._______~---------j k. Total Housing Fund Deposits for this Project Area (3a. through 3j.): l!!.,223,641 -.----- Save I Redevelopment Agency Report[ng System - Housing Fund Revenues 8, Other Resources California Department or Housing and Community Development https://ssw2.hcd.ca.gov/RDAladdEditHousingFundRevenues.jsp . 12/28/200 RDA Reporting System - Displacements and Losses Page 1 of: California Departrnent of HOllsing and Community Development . Rell1e\'e~opmel1t Agency Reporting System Displacements and Losses over reporting Year Soh A, p4; Soh S, p1 "DU are Here: Select Year> Schedule Menu> Proiect Area Selector:> ProiectArea Actlvftv Menu> Displacements & Losses << Previous Page Agency:CHULA VISTA RDA Fiscal Year :200512006 Prepared by: Ronie Roble . Admin For pnoject Area:MERGED PROJECT AREA .',= . Se[ect Year 6. Actual Project Area Households Displaced and Units and Bedrooms Lost over Reporting Year . FAQ a. Redevelopment Proiect Activitv. Pursuant to Sections 33080.4(a)(1) and (a)(3), report by income category the number of eiderly and nonelderly households permanently displaced and the number of units and bedrooms removed or destroyed that are subject to the replacement requirements of Section 33413. . User info . Status . Print . Logout I Income Level IHouseholds Removed - Elderly IHouseholds Removed - Non Elderly IHouseholds Removed - Total II VL II L II M II AM II Total Ii II L--IL-I~__-1 11--11 Il--~ ,--"-,---JIQ ,__ HI IL-Ib---I~Q.-___II~ .I~_,_I ~~~ Q ~~Q.D . ~Q ~Q Units Lost (Removed or Destroyed, and Required o be Replaced) Bedrooms Lost (Removed or Destroyed, and Required to be Replaced) Units Lost (Above Moderate: Not Required to be Replaced) Bedrooms Lost (Above Moderate: Not Required to be Replaced) b. Other Activitv. Pursuant to Sections 33080.4(a)(1) and (a)(3), report by income category the number of elderly and non elderly househoids pemnanently displaced as a result of activities other than the destruction or removal of dwellino units and bedrooms reported on above, Income Level II VL II L II M II AM II Total I Households Pemnanently Displaced - Elderly L---1L-IL-..:....11 IIQ---1 Households Permanentiy Displaced - Non Elderlv t .___._ '11- --,-1L-----IL--IL--1 Households Permanently Displaced - Total lo _1~Q..__I~~_llo IIQ- j c. Identify each replacement housing plan adopted that is related to pemnanent displacemen~ destruction or removal of dwelling units or bedrooms durino the reporting year and identified in paragraphs in a. and b. above: I Date' II i IL I II I ---II Name of Agency Custodian , Note - Date should be (mm/dd/yyyy) format. If dd for the date is not available assume 01 Note1 -Date and Custodian Name is mandatory for a record; if either is missing, new record will not be saved and existing record will be treated as a deletion Note2 - Additional rows will be made available for data entry on Save, for Date/Name of Agency Custodian https:/lssw2.hcd.ca.gov/RDNaddEditDisoIAndLosses.iso 17/n/700, RDA Reporting System - Displacements and Losses Page 2 of2 Save I Red~velopment Ag~ncy R~pol'ting System - Displacements amd Losses O\f~r ,epo.rting Year California Department of Hous!ng and Community Development https://ssw2.hcd.ca.gov/RDAladdEditDisnlAndLosses.isn 1 ?/? R/?OOI RDA Reporting System - Households Displaced Page I of: CaHfornia Department of Housing and Community Development ~_O'''_'' i.~- .~ :..p'~, . -. ~. . . J ". Rec1e\'e~opmeitt Agency Repol'tll1g System Estimate of Households Displaced over Current FY Sch A, p5; Sch S, p2 You are Here: Select Year> Schedule Menu> Proiect Area Selector> Proiect Area Activity Menu> Households Displaced << Prevfous Page . Admin Agency:CHULA. VISTA RDA Fiscal Year :2005/2008 Prepared by: Ronie Roble . Select Year For Project Area:MERGED PROJECT AREA . FAQ . User Info . Status 7. Project Area Households to be Permanently Displaced Over Current Fiscal Year . Print ~ Logout a. As required in Section 33080.4(a)(2), estimate the type and number of households, by income category, to be permanently displaced from this project area during the next reporting period:. Income Level Households Penmanently Dispiaced - Elderly. Households Permanently Displaced - Non Elderly Households Permanently Displaced - Total II VL II L II M II AM II Total I 1.--.'11 .lLn_~.IL._II~__1 I IL--IL. -ILJQ._:..1 101Ioll()__llo 110 I b. Identify each replacement housing pian adopted that is related to penmanent displacement, destruction or removal of dwelling units or bedrooms during the next reporting period and identified in paragraph a. above: Name of Agency Custodian I Date" II I IL- III ~ -II " Note - Date should be (mmldd/yyyy) format. If dd for the date is not available assume 01 Note1 - Date and Custodian Name is mandatory for a record; if either is missing, new record will not be saved and existing record will be treated as a deletion Note2 - Additional rows will be made available for data entry on Save, for Date/Name of Custodian Save I Redevelopment Agency Reporting System- EstImate of Households Displaced over Current FY California Department of Housing and Community Development https ://ssw2.hcd.ca.govIRDAJaddEditEstimatesHouseDisplaced.j sp 12/28/200 RDA Reporting System - Sales of Owner Occupied Units Page I of J California Department cf Housing and Community Development Redevelopment Agency Reporting System Sales of Owner-Occupied Units Prior to the Expiration of Land Use Controls Soh A, p6; Sch B, p2 You are Here: Select Year> Schedule Menu> Proiect Area Selector> Proiect Area Activitv Menu> Sales of Owner Occupied Un.its t: << Previous Page . Admin Agency:CHUIA VISTA RDA Fiscal Year :2005/2006 Prepared by: Ronie Rabie · Select Year Far Project Area:MERGED PROJECT AREA . FAQ . User Info . Status . Prfn.t . Logout 9. Sales of Owner Occupied Units Inside the PrDject Area PriDr to the ExpiratiDn of Land Use ContrDls 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 sales of owner-Dccupied units prior tD the expiration of the period Df the land use cDntrols 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 of unit sales, expend funds tD make affordable an equal number Df units at the same income level as the units sold. a. RepDrt any sales of owner-occupied units during the repDrting year. I Proceed $ I Number Df units sDld in 2005/200611$0 II VL II L II M II Total I It--IL-IL-'IIQ------ b. Report expended funds in the reporting year tD make affDrdable an equal number Df units sold over the last three years. I Expended $ II VL II L II M Equivalent tD Dffset unit 2005/2006 sales ~IL--II---Il Equivalent tD Dffset unit 2004/2005 sales l~- -----lL-Il--Ii Equivalent tD Dffset unit 2003/2004 sales l~- ---~---IL--JI----Il Equivalent tD Dffset unit 2002/2003 sales 1!2- -------IL-m--lt~___11 Save I II Total I 110__1 Il~-I IIQ----1 11~.-.1 Redevelopment Agency Reporting System - Sales o.f OWller-Occupled Urlits Prior tei the ExpiratiDn of Land Use Control ,California Department of , Housing and Community Development hrtps://ssw2.hcd.ca.govIRDAladdEditSalesOwnerOccupied.j sp 12/28/200 RDA Repo11ing System - Construction of Affordable Units Page 1 of 1 CaHfornia Dep.artm~nt of Hous1ng and Communrty Deve-fopment Redevelopment AgsnC}' Reporting System Affordable Units to be Constructed Inside the Project Area Within the Next Two Years Sch A, p6; Soh S, p2 JU are Here: Select Year:> Schedule Menu> Proiect Area Selector> Proiect Area Activitv Menu> Construction of Affordable Units <c:: Previous Page Agency:CHULA VISTA RDA Fiscal Year :2D05l2006 Prepared by: Ronie Roble . Admin For Project Area:MERGED PROJECT AREA . Select Year . FAQ 10. Affordable Housing Units Anticipated To Be Completed During the Next Two Years Pursuant to Section 33D80.4(a)(1 0), report the number of very low, low, and moderate income units to be financed by any federal, state, iocal, or private source and constructed inside the project area, within the next two years. Identify any executed contract or agreement and specify the estimated completion date of these future units and the amount of funds, if any, that make up Total Encumbrances reported on KCD Schedule C, Item 8. Also, for any unencumbered funds budgeted and designated on KCD Schedule C. Item 8 for intended project use, complete as much information as applicable. . User Info . Status . Pr[nt . Log out Name of ContractorlProiect** I Execution Est Date of Sch C Amt II Sch C Amt Date. ComDletion* Encumbered Desianated G~08 IE - -II----.II~--Ib-o---------IDDDD II-----II.----II~---Il~---IDDDD IL It-----I~--Il~--'IDDDD · Note - Date should be (mm/dd/yyyy) formal. If dd for the date is not available assume 01 .. - maodatDIY field; ifmissing, new record will not be saved aod aod existing record will be treated as a deletion Note - Additional rows will be made available for data entry on Save Save I Reclevelopment Agency Reporting System - Affordab~e Lln1ts to be Constructed Wrthln the Next Two Years California Oepartr.lent of Housing and Community Deve!opment httpS://S5W2.hcd.ca.govIRDAJaddEditConsAffordUnits.jsp 12/28/200 RDA Reporting System - General Project Information Page 1 of 1 ,'. - CaIifornia: Department of Housing and Community DeYe~opment -~-'<-:j~.:. Reds'tfebpmemt Agency Reporting System General Project Information Sch D1 You are Here: Select Year> Schedule Menu> Proiect Area Selector> Project Area Activit\! Menu> Proiect Selector >Proiect Activity Menu> General ~roject Information <c:: Previous Page . Admin Agency:CHULA VISTA RDA For Project Area:MERGEO PROJECT AREA Year :200512006 Prepared by: Ronie Roble For Project :Mein PI""a . Select Year . FAQ Name: ~~~~____._____.___~. Address: 11687-89 Broadway"_~_____ City: 1~l!.I~Y~~_____ Zip: 191911 Owner Name: ~~.!:'.I~s.Y"_____._____ Description: b.Q6-Un.!!..lTIUltifam~ rental project. ___ ~__ (!'. Yes Was this a federally assisted multi-family rental project identified in Government r No Code "65863.1O(a)(2)? Save I . User Info . Status . Prtnt . Logout Redevelopment Agency Reporting System - General Project Information 01 California Department of Housing and, Community Development " https://ssw2.hcd.ca.gov/RDAJeditProiectlnfo.jsp 12/28/200 RDA Reporting System - Special Need Units Page 1 of. C2lifomia Department of HOLlsing and Community Development Rede\leiopment Agency R.eport~l'lg System Special Needs Units Sch D1 ou are Here: Select Year> Schedule Wlerlu > Project Area Selector> Proiect Area Activity Menu> Proiect Selector >Proiect ActivitY Menu> Special Need .Jnrts -... . -'~. 1":_ . .... << Previous Page . Admin Agency:CHULA VISTA RDA nbsp; Fiscal Year :2005/2006 Prepared by: Ronie Roble . Select Year For Project Area:MERGED PROJECT AREA . FAQ . User Info . Status . Pr1nt . Logout For Project :Main Plaza IS8 __ Number of Units Restricted for Special Needs NOTE: Project units may serve more than one of the "Special Needs" listed below, therefore the sum of ail "Speciai Needs" can exceed the "Number of Units Restricted for Special Needs". L__.__. Disabled, Mental L_._ Disabled, Physical I~~.__ Farmworker, Migrant L___ Farmworker, Permanent L_ Female Head Of Househoid I~~_ Large Family, 4 or more Bedrooms L_ Transitional Housing 1__ Eiderly L Emergency Shelters(Aliowable use only with "Other Housing Units Provided - Without LMIHF" -- money.) Save I Redevelopment Ag,;ncy Reporting System - special Needs Units 01 California Department of Housing and Community Development https://ssw2.hcd.ca.govIRDAJaddEditSpecialNeedUnit.isp 12/2R/2001 RDA Reporting System - Use Restriction Dates Page lofl California Departmer:t of Housing and Community Development Redevelopment Agency Report~r1g System Use Restriction Dates Sch 01 You are Here: Select Year> Schedule Menu> Proiect Area Selector:> Proiect Area Activity Menu> Proiect Selector >Proiect Activity Menu> Use Restriction uates . << Prev~ous Page . A.dmin Agency:CHULA ViSTA RDA Fiscal Year :200512006 Prepared by: Ronie Roble . Select Year For Project Area:MERGED PROJECT AREA . FAQ For Project :Main Plaza . User Info . Status Enter appropriat~ dates:(mm/dd/yyyy) H & S C 33413 (c) Not less than 55 years for rental units and 45 years for homeownershipunits . Print . Logout Category Inception Termination Perpetuity Replacement Housing Restriction Dates: L._u._._____~.. L .___ C inclusionaryHousingRestrictionDates: 1121_Q..~_ ~_"!I~~9- r::- Other Housing Restriction Dates (with LMIHF): L...___ __. _ L_____ Other Housing Restriction Dates (without LMIHF): L.__ __ L_____. Save I Redevelopment Agency Reporting System - Use Restriction Dates Sch D1 . California Department of Housing and Community Deve[opment https:!/ssw2.hcd.ca.gov/RDAladdEditUseRestrictionDates.isp 12/28/2001 RDAReporting System - Project Area General Info California Department of Housing and Community Development Redevelopment Agency Report!l"!g System General Project Area I nformation Soh A, p 1 'eu are Here: Selecl Year> Schedule Menu> Proiect Area Selector> Proiect Area Activity Menu> Project Area Generaflnfo <<Previous Page . Admin Agency:CHUI.A VISTA RDA Fiscal Year :200512006 Prepared by: Ronie Roble . Select Year For Project Area:BAYFROIIIT TOWN CENTER I . FAQ . User.lnfo . Status . Print . Logout If the redevelopment plan for the subject project area was adopted before I/I/76, and the agency has elected to apply all or part of Section 33413, identify the resolution date and scope (elected provisions).: HelD? Date: (mmlddlyyyy)* L___' * Note: If dd for the date is not available assume 01 Scope: [ 1.a Project Area Information I. Year plan for project area was adopted: 2. Year that plan was last ameoded (if applicable): 3. Was Plan amended after 2001 to extend time limits per Senate Bill211 (Chapter 741, Statutes of2001)?: 4. Current expiration ofredevelopmeot plan: .:l ______..:J Save I Redevelopment Agency Reporting System - General Project Area Information California Department of Housing and Community Development https://ssw2.hcd.ca.gov/RDNeditProjectAreaGeneralInfo.jsp Page I of I 12.9?~ l?OO~ I~..:I 1.2029 -~ 12/28/2001 RDA Reporting System - Change Name Ca~[forn1a Department or Housin,g and Community Development Redevelopment Agency Reporting System Project Area Name Change Sch A, p1 JU are Here:"Select Year> Schedule Menu> Proiect Area Selector> Proiect Area Activity Menu> Change Name << Previous Page . Admin Agency:CHUUI VISTA RDA Fiscal Year :200512006 Prepared by: Ronie Roble . SeleelYear For Project Area:BAYFRONT TOWN CENTER I . FAQ . User Info . Status . Print . Logout 1. Project Area Information b. Use this form to change'the name of the current project area. ' Enter the new project area name: IBAYF!3.9.~'!:JOWN CENTER I Change I Redeve~opment Agency Reporting System - Project Area Name Change California Department of Housing and CommunrtY Development httm: Ilssw2. hcd.ca. gnv/R D A/editProi ectAreaN ame. i SP Page 1 of 1 12/28/200 Agency:CHULA VISTA RDA Fiscal Year :2005/2006 Prepared by: Ronle Roble For Project Area:BAYFRONT TOWN CENTER I Housing Fund Revenue successfully saved 3. Project Area Housing Fund Revenues and Other Sources Instructions NOTE: Expenditures for debt senrice(HCD-C (Page 2, Line 4c.)) should be reported on Agency-wide Financiai Information 4c. RDA Reporting System - Housing Fund Revenues California Department of Housing and Community Development Rec!eve~opmen;t Agency R.eporting System Housing Fund Revenues & Other Resources Sch A, p2 ou are Here: Select Year:> Schedule Menu> Proiect Area Selector> ProiectArea Activity:> Housing Fund Revenues '. <<. Previous Page . Admin . Select Year . FAQ . User Info . Status . Prin~ . Logout a. Tax Increment (1) 100% of Gross: (2) Calculate Only 1 set-aside amount (either (A) or (B) beiow): <! (A) Minimum Deposit required by 33334.2 (Gross x 20%): Page 1 of" ~~~~2~g__ _ ~57,336 C (B) Minimum Deposit required by 33333.1 O(g) I (Senate Bi11211, Chapter 741, Statutes of2001)(Gross x 30%): _____h__.. (3) Tax increment Ailocated to Housing Fund: 1$744,5~~___ If less than 20% of the Gross Tax Increment (see (2) above) is being set aside in this project area in accordance with Section 33334.3(i); identify the project area(s) contributing the difference in the box below: Or Explain beiow if less than 20% is being set aside for any other reason: Previous debt service Tax Allocation Bonds. obligation associated with the 1979 Pursuant to Section 33481 of CRL. ___________.____..:J Less: (~) Amount Exempted' : (5) Amount Deferred' : (~9...._____) (I~g__n____ _ J . If Amount Exempted or Amount Deferred is entered, after you SAVE, you need to go to Project Area Activity Menu and select Exemption(s) And/Or Deferrai(s) to enter Sch A data. (6) Total Deposit to the Housing Fund [Caiculated from above, (3) - (4) - (5)] b. Interest Income: c. RentaVLease income: d. Saie of Real Estate: e. Grants: f. Bond Administrative Fees: g. Repayment of Prior Year Deferrals: h. Loan Repayments: i. Debt Proceeds: j. Other Revenue: https://ssw2.hcd.ca.gov/RDAltaxSen'let.srv 1$744,587 1$156,381 ~31 ,294 L_~____ L________ 1$42,047 1$0 I L___ 1$14,058 l2/28/20C RDA Reporting System - Housing Fund Revenues (S pecify) Reconveyance Fees, Orig fee, ~ransfers . from CHIP k. Total Housing Fund Deposits for this Project Area (3a. through 3j.): 1~~88,362-__ Save I Relieveropment Agency Repor!lElg System - Housing Fund Revenues & Other Resources Caltfornia Department of Housing and Comm unity Development https://ssw2.hcd.ca.govIRDAltaxServlet.srv Page 2 of" 1? /?R/?OO, RDA Reporting System ~ Displacements and Losses Page 1 of: California Deparunent of Housing and Community Development Rede...e~opmel1t Agency Report~l'lg System Displacements and Losses over reporting Year Sch A, p4; Sch S, p1 (ou are Here: Select Year> Schedule Menu> Proiect Area Selector> Proiect Area Activity Menu> Displacements & Losses << Previous Page Agency:CHULA VISTA RDA Fiscal Year :200512006 ....dmin For Pnojec::l Area:BAYFRONT TOWN CENTER I . Prepared by: Rcmie Roble . Select Year 6. Actual Project Area Households Displaced and Units and Bedrooms Lost over Reporting Year . FAQ a. Redevelooment Proiect Activitv. Pursuant to Sections 330B0.4(a)(1) and (a)(3), report by income category the number of elderiy and non elderly households permanently displaced and the number of units and bedrooms removed or destroyed that are subject to the replacement requirements of Section 33413. . .User Info . Status . Print . Logout I Income Level IHouseholds Removed - Elderly IHouseholds Removed - Non Elderly .IHouseholds Removed - Total Units Lost (Removed or Destroyed, and Required o be Replaced) Bedrooms Lost (Removed or Destroyed, and Required to be Replaced) Units Lost (Above Moderate: Not Required to be Replaced) Bedrooms Lost (Above Moderate: Not Required to be Replaced) II VL II L II M II AM II Total I IL-IL---J___ IL-Ih--l IL---JL-IL-.-ull__._llQ _ n_ 1 1I~__jlS!___1I0__ ---k---IIS!...__1 QQD Q QQO Q QD QQ b. Other Activitv. Pursuant to Sections 330B0.4(a)(1) and (a)(3), report by income category the number of elderly and nonelderiy households permanently displaced as a result of activities other than the destruction or removal of dwelllna units and bedrooms reoorted on above. Income Level Households Permanently Displaced - Elderly Households Permanently Displaced -- Non Elderly Households Permanently Displaced - Total II VL II L II M I-.-IL--J L-----IL-J 11-__110 1 ~Q--.-IIQ--.k--- - --1I9-----11Q.- -.1 II AM II Total I 11---119----1 c. Identify each replacement housing plan adopted that is related to permanent displacement, destruction or removal of dwelling units or bedrooms durina the reporting year and identified in paragraphs in a. and b. above: I I 1------11 I 1------11------ ------- -- -- ------- ------ ______1 I Date' II '------11 Name of Agency Custodian . Note - Date should be (mm/dd/yyyy) format If dd for the date is not available assume 01 Note1 - Date and Custodian Name is mandatory for a record; if either is missing, new record will not be saved and existing record will be treated as a deletion Note2 - Additional rows will be made available for data entry on Save, for Date/Name of Agency Custodian https://ssw2.hcd.ca.gov/RDNaddEditDisplAndLosses.isp 1'J/?Rnnn, RDA Reporting System - Displacements and Losses Page 2 of. Save I Redeve~opmef1t Agency Reporting System - Displacements and Losses over reporting Year C2:lifornia Department of Housing and Community Deve~opment https://ssw2.hcd.ca,govIRDAladdEditDisnlAndT .OS ses. i sn ''l/'lQI'Innl RDA Reporting System - Households Displaced Page 1 of 1 Californ!a. Department or Housing and Communrty Development Reoieweuopment Agency Reporting System Estimate of Households Displaced over Current FY Sch A, p5; Sch S, p2 DU are Here: Select Year> Schedule Menu> Proiect Area Selector> Proiect Area Activitv Menu> Households Displaced 'I: <or::::: Previous Page . Admin Agenc:y:CHULA VISTA RDA Fiscal Year :2D0512D06 Prepared by: Ronie Roble . Select Year For Project Area:BAYFRONT TOWN CENTER I . FAQ . User Info . Status 7. Project Area Households to be Permanently Displaced Over Current Fiscal Year . Print . Logout a. As required in Section 33080.4(a)(2), estimate the type and number of households, by income category, to be permanently displaced from this project area during the next reporting period: Households Permanently Displaced - Elderly I I Households Permanently Displaced - Non Elderiy L.- I Households Permanently Displaced - Total 10__ I Income Level II VL II L II M II AM II Total I 1--.-11. . ......IL._Jo.1 I.--II--.J IL.J l~-II~--Il~-IL-I b. Identify each replacement housing plan adopted that is related to permanent displacement, destruction or removal of dwelling units or bedrooms during .the next reporting period and identified in paragraph a. above: I Date' II l----Il 1.-------11- L--II. Name of Agency Custodian I .I I - I . Note - Date should be (mmldd/yyyy) format If dd for the date is not available assume 01 Note1 - Date and Custodian Name is mandatory for.a record; if either is missing, new record will not be saved and existing record will be treated as a deletion Note2 - Additional rows will be made available for data entry on Save, for Date/Name of Custodian Save I Redevelopment Agency Reporting System - Estimate of Househofds Dtsplaced over Current FY California Department of Hous~ng and Community Ds-velopment 'httnC'./I("t'-nr'J 1,...rl r'!:I rrn'HfRn!! /~rlrlPrl.jtPd;11"H~tp._t:l-.:r(\lll::f'.f)i<:;:nlRr,p-rl ;.:::n 1 ?/7R/700 RDA Reporting System - Rehabilitated Dwelling Page 1 of' Califomia Dep;;rtment of Housing and Community Development Rede...e~Olpmerrt Agency Reporting System New or Substantially Rehabilitated Dwelling Units Developed Within This Project Area From Activities of Other Project Area(s) Sch A, p5 rou are Here: Select Year:> Schedule Menu >.Proiect Area Selector> Proiect Area Activitv Menu> Rehabilitated Dwelling <.< Previous Page . Admin Agency:CHULA VISTA RDA Fiscal Year :200512006 Prepared by: Ronie Roble . Select Year For Project Area:BA YFRONT TOWN CENTER I . FAQ . User Info . Status . Print . Lc-gout 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. If 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, please provide the following: When was the initial finding adopted? (mm/dd/yyyyt '-___~ Identify Resolution # 1____ _ __ . Date Resolution and facts sent to HCD (mm/dd/yyyyt: L ______ IName of Other Project Area(s)"11 VL II L II M II AM II Total I I Select a Project Area _~ 11--11.-- --IL---IL--JI9-___1 ~~ctaprojectArea _ ~ ILJL---Il--IL--Ilp----I LSelect a Project Area _~ 11---11-. __IL___'IL___I~ol * Note - if dd for the date is not available assume 01 .. - mandatory field; if missing, new record wiil not be saved and existing record will be treated as a deletion Note - Additional rows will be made available for data entry on Save Save I Redeve~opment Agency Reportlng System - New Dr Substantially RehabHrtated Dwem!ig Unlts Developed California Department of Housfng and Community Deveropment nttn~'//~c;;:W? hr.n r.~ ar\V/RnA/~:1I1rlPrl;tNp.,V~11'hRp_n~hnVJPllil1o_ ;c:;:n 1 ')/'?Qr>nn RDA Reporting System - Sales of Owner Occupied Units Page I of California Depar""ent of Housing and Community Development RedeveuopmSrlt Agency Reporting System Sales of Owner-Occupied Units Prior to the Expiration of Land Use Controls Sch A, p6; Sch B, p2 (ou are Here: Select Year> Schedule Menu> Proiect Area Selector> Proiect Area Activitv Menu> Sales of Owner Occupied Units " '<' << Previous Page . Admin Agency:CHULA VISTA RDA Fiscal Year :200512006 Prepared by: Ronie Robie . Select Year For Project Area:BA YFRONT TOWN CENTER) . FAQ . User Info . Status 9. Sales of Owner Occupied Units Inside the Project Area Prior to the Expiration of Land Use Controls 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 sales 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 of unit sales, expend funds to make affordable an equal number of units at the same income level as the units sold. a. Report any sales of owner-occupied units during the reporting year. . Print . Logout I Proceed $ 1 Number of units sold in 2005/20061~ II VL II L II M II Total I 1L-IL-IL--119---- b. Report expended funds in the reporting year to make affordable an equal number of units sold over the last three years. I Expended $ II VL II L II M II Total Equivalent to offset unit 2005/2006 sales ls~__.____ll._.-Jl--IL-llo I Equivalent to offset unit 2004/2005 sales I!Q...-- _ -II..------It ___ _II 112 ___ ..1 Equivalent to offset unit 2003/2004 sales 1!9.____.__._ JL--JL--H.-II__IIQ...~__..I Equivalent to offset unit 2002/2003 sales ISO II Il---IL- .JI!l.-_._-1 Save I Redevelopment Agency Reporting System - Sares of Owner-Occupied Units Prior to the Expiration of Land Use Control CaHfornia Department of Housrng and Community Development https://ssw2.hcd.ca.govIRDAJaddEditSalesOwnerOccupied.isp 1 2/2 R/2 00 RDA Reporting System - Funding Source .~'. .~;" :~. ~ ~-,,:'- -1::' California Department of Housing and Community Development Redevelopment Agjency Reportil1g System Project Funding Source Sch D1 Page 1 of] ~,....> ir - :JfR'".... 'fUJ' : "'. .'~ .,. 'ou are Here: Select Year> Schedule Menu> Project Area Selector >"Proiect Area Activitv Menu> Proiect Selector >Proiect Activitv '0enu > Funding Source -=< Previous Page . Admin Agency:CHULA VISTA ROA Fiscal Year :200512006 Prepared by: Ronie Roble . Select Year For Projecl Area:MERGED PROJECT AREA . FAQ . User Info . Status . Print . Logout For Projecl :Main Plaza Redevelopment Funds: ' 1!:1.,~-,-0~__ Federal Funds: ~.?~cCl~___ State Funds: [g,,~O..Q,QOO Other Local Funds: ~400, 000 Private Funds: I Owner's Funds: L______' TCAClFederal A ward: I TCAC/State Award: ~~~_ Total DevelopmentlPurchase Cost: /!.19,339,930 _ "Save I Rede\!etopment Agency Repo,rtiflg System - Project Funding Source California Department of Houstng and Community Development https://ssw2.hcd,ca,govIRDAladdEditFundingSources, i SP '1?nRnnnr: RDA Reporting System - Inclusionary Housing Units Page 1 of: California Department of Housing and Community Development Rede"e~opmel'lt Agency Reporting System Inclusionary Housing Units Sch D3 You are Here: Select Year> Schedule Menu> Proiect Area Selector> Proiect Area Activitv Menu> Proiect Selector >Proiect Activity Menu> Ihclusionarv .:>Non-Agency Developed and Rental -~' -~', ',' '.~ -. . '_L......_', . Admin Agenc:y:CHULA VISTA RDA Fiscal Year :2DD5J2DDS Prepared by: Ronie Roble For Project Area:MERGED PROJECT AREA For Project :Main Plaza << Previous Page The units counted below are Non-Agency Developed and Rental . Select Year . FAa New Construction Units . User Info . StE:tus Type of Unit Elderly Units: Non Elderly Units: Total Elderly & Non Elderly Units: . Print . Logout VLOW LOW MOD TOTAL INELG 1- L_ L____ L__ L_ L1Q.._IiJ__19~ 129~__ L__ 1:t.Q..____I~ 19~__l2Q.S___ L_ ___ Substantial Rehabilitation (Post-AB1290 Definition of Value >25%: Credit for Obligations Post 1993) Type of Unit VLOW LOW MOD TOTAL INELG Elderly Units: L__ L__I_ L____ I.__ Non Elderly Units: L-__I__l_1 L_ Total Elderly & Non Elderly Units: '-____ L___ '-_____ L _ __ _ L___ Rehabilitation (Pre-AB 1290 Definition: Credit for Obligations Pre 1994) Type of Unit VLOW LOW MOD TOTAL INELG Elderly Units: L_ '-_'1__ L___ L_ L_L_I__I__'-_ I I '-__I I Non Elderly Units: Total Elderly & Non Elderly Units: Acquisition of Covenants (Post AB-1290 Reform: Only Multi-Family and Some Other Restrictions) Type of Unit Elderly Units: Non Elderly Units: Total Elderly & Non Elderly Units: VLOW LOW MOD TOTAL INELG '---_I___l__1 1__ L____l__ L_l_ L___u_ L__I '-_ L___L_ Inclusionary Units which also have been counted as Replacement Units Type of Unit Elderly Units: Non Elderly Units: VLOW LOW MOD TOTAL 1___- I II '-__I I I https://ssw2_hcd_ca_gov/RDAJaddEditIncIuHousing.isD?ID=3 &credit=N nn" 1')/')Qnnnf.. RDA Reporting System - IncIusionary Housing Units Page 2 of~ Total Elderly & Non Elderly Units: L__ L____ L___ ..l__n_ Save I Recleve~opment Agency Rap,orting System - ~nc~lls[onary Housing Un~ts California Department of HOl1~ing and Communrty Development https:l/ssw2.hcd.ca.gov/RDAladdEditIncIuHousing.j sp?ID=3 &credit=None 12/28/2001 RDA Reporting System - Project Level Inclusionary Obligations Page I of .=,.(, CaHfornia Department of Housing and Community Development Rec!e\le~opmel1t ~ency Reporting System Project Inclusionary Obligations Sch E 'ou are Here: Select Year> Schedule Menu> Proiect Area Selector> Proiect Area AcUvitv Menu> Proiect Selector >Proiect ActivitY Menu> Project lnclusionary Obligations << Previous Page . Admin Agency:CHULA VISTA RDA Fiscal Year :200512006 Prepared by: Ronie Roble · Select Year For Project Area:MERGED PROJECT AREA . FAQ For Project :Main Plaza . User Info . Status . Print Project Calculation of Increase In Agency's Inclusionary Obligations For Activities During The Reporting Year 2005/2006 Sch E1 . Logout This form is Informational ONL Y: Actual obligation is based on Implementetion Plan Part I [H&SC Section 33413(b)(1)] AGENCY DEVELOPED 11. New Units Developed by the Agency [] 12. Substantially Rehabilitated Units Developed by the Agency IOJ 13. Subtotal- Baseline of Units Developed by the Agency (add lines 1&2) IOJ 4. Subtotal ofInclnsionary Obligation Accrued tbis Year for Units Developed by Q the Agency (Line 3 x 30%) 5. Subtotal of Inclusionary Obligation Accrued This Year for Very-Low Income Q Units Developed by the Agency (Line 4 x 50%) .Part II [H&SC Section 33413(b)(2)] NONAGENCY DEVELOPED 6. New Units Developed by Any Person or Entity Other Than the Agency 11061 7. Substantially Rehabilitated Units Developed by Any Person or Entity Other Q Than the Agency . 8. Subtotal- Baseline of Units Developed by Any Person or Entity Other Than the 11061 Agency (add lines 6 & 7) 9. Subtotal ofInclusionary Obligation Accrued tbis Year for Units Developed by Cd Any Person or Entity Other Than the Agency (Line 8 x 15%) 10. Subtotal of Inclusionary Obligation Accrued This Year for V ery- Low Income Q Units by Any Person or Entity Other Than the Agency (Line 9 x 40%) I Part ill - Totals I 11. Total Increase in Inclusionary Obligations During This Fiscal Year (add lines 4 Q and 9) 12. Total Increase in Very-Low Income Units InclusionillY Obligation During This Q Fiscal Year (add lines 5 and 10) NOTE: LINE 12 ISA SUBSET OF LINE 11 Redevelopment Agency Reporting System - Project !ncltlsiol1ary Obfigatlons California Department of Housrng and Community Development httns:l!.C\sw?.nr.n r.:::! (T/lviRnA h:hr\\:uPl'n~p.rtTn("' In()hl.j n-<:lt;nTlC'.; C'-n. RDA Reporting System - Agency.Wide Financials Page 1 of2 California Department of HousIng and Communrty Development I: RedeveDopmel1t Agency Reporting System Agency-wide Financial Information- Sch C, p1-4 'ou are Here: Select Year> Schedule Menu> Agency Wide Financials <<Previous Page Agency:CHULA VISTA RDA Fiscal Year :200512006 . Admin Financial information successfully savee! Prepared by: Ronie Roble . Se~ect Year Low & Moderate Income Housing Funds Report on the "status and use of the agency's Low and Modecate Income Housing Fund." Most information reported here should be based on that reported to the State Controlier. . FAa . User .Info . Sta.tus . Print . Logout 1. Beginning Balance: a. Describe and Provide Dollar Amount (Positive I Negative) Making Up Total Adjustments: [ d - ~~ ~__~____ ______________ _ CJ Illil~~__ [!o ___ ___ __ b. Adjusted Beginning Balance: 1.$2,063,268 __ 2. Project Area Receipts and Housing Fund Resources a. Project Area(s) Receipts (Total of all Schedule As): b. Housing Fund Resources not reported on Schedule A(s) Describe and Provide Doliar Amounts (Positive I Negative) Making Up Totai Housing Fund Resources: $2,212,008 ~---- d .___________..:J 3. Total Resources: [Line 1 b + 2a + 2b] l$4,275,276 .4. Expenditures Subtotal: Sch C, p1-3 #4 $1,226,784 5. Net Resources Available: 1!3,048,492 __ . 6. Encumbrances and Unencumbered Balance a. Encumbrances (End of Year): Help? b. Unencumbered Balance (End of Year): 1$0 1$3,048,492 7. DesignatedlUndesignated Amount of Available Funds: a. Unencumbered Designated: b. Unencumbered Undesignated: ~O 1$3,0~8,4~ h ttp s:/ / ssw2 .hcd. ca. gOy!RD AlfinancialA cti yi tvS erylet. srY l~nqnnnl a. Unencumbered Balance (End of Year):[Page 3, Line 6,b] 113,048,492__ __., b. If you are eligible to adjust the Unencumbered Balance (End of Year), identify the type and amount of the adjustment (1) Debt Proceeds: RDA Reporting System - AgencyWide Finai:1cials 8. Other Housinq Fund Assets: Sch C, p3 #6 9. Total fund equity: 10. Reporting Year End Unencumbered and Adjusted Balance Instructions (2) Land Sales: c. Adjusted Unencumbered Balance: 11. Excess Surplus Tax Increment Deposit Calculation: 200212003 - Tax Increment: 2003/2004 - Tax Increment: 2004/2005 - Tax Increment: FY 05-06 Reporting Year Tax Increment: Sum of 3 Prior Years' and Reporting Year Tax Increment: '12. Excess surplus to track during fiscal year 2006-2007 is: Your current excess surplus, calculated last fiscal year, is Save I Redeve!opmemt Agel1cy Reporting System - Agel1cy-wide Fimmcial [l1formation California Department of Housing and Community Deve[opment https://ssw2.hcd.ca.goY/RDAlfmancialActiYitySerY1et.srv Page 2 of $17,702,154 1$20,750,646 I~~____--- ~9-__ ~3,048,~~_ $1,451,691 $1,950,856 $1,675,380 $1,968,228 $7,046,155 1$0 ______ $0 l?nqnnnh RDA Reporting System - Agency_wide Expenditures You are Here: Select Year> Schedule Menu> Aaencv Wide Financials > Agency Wide Expenditure << Previous Page Agency:CHULA VISTA RDA Fiscal Year :200512006 Prepared by: Ronie Roble . Admin Expenditure successfully sailed The line items below oller specific line items from the State Controller's Annual Report of Financial . Select Year Transactions of Community Redevelopment Agencies to facilitate preparation of the report. Dollar amounts for most items below from what reported on the State Controllers Annual Report of Financial Transactions of Community Redevelopment Agencies, Consolidated Income Statement, except for reclassifying of Transfers-Out to Internal Funds and the reporting of Other Uses as discussed below. I: . FAQ . User Info . Status . Print . Logout Page lof .'. California Department of HOllsing and Comm unity Development Rede\fe~opmerlt Agency Report~ng System Agency-wide Expenditures Sch C 4. Expenditures and Other Uses a. Propenty Acquisition (1) Land Assets (portion of Inc Stmt): (2) Housing Assets (portion of Jnc Stmt): (3) Acquisition Expense: (4) Operation of Acquired Propenty: (5) Relocation Costs: (6) Relocation Payments: (7) Site Clearance Costs: (8) Disposal Costs: (9) Other: Specify other: I t!~~__ L 1_____ l!?~~_____ L__ L_____ 1____- ~-- I ~J ..:J ------.- ~4,3~__ (10) Propenty Acquisition Subtotai: b. Subsidies from the LMIHF (1) 1 st Time Homebuyer Down Payment Assistance: (2) Rental Subsidies: (3) Purchase of Affordability Cov. (33413(b)2(B): (4) Other. Specify other: I I 1___--_- L I ~. ..:J ~ (5) Subsidies from the LMIHF Subtotal: https://ssw2.hcd.ca.goY/RDNfinancialActiYitySerYlet.srv 1')!')Q/'1nnt. .d _____..:.1 ~____._.h ~. ________.:.1 1$595,339 L___ L g. Housing Rehabilitation (33334.2(e)(7)): 1$96,712 h. Maintenance of Mobilehome Parks (33334.2(e)(10)): I i. Preservabon of At-Risk Units (33334.2(e)(11)): L RDA Reporting System- Agency-wide Expenditures c. Debt Service (33334.2(e)(9)) (1) Debt Principal Payments: (a) Tax Aliocation, Bonds & Notes: (b) Revenue 80nds & Certificates of Participation: (c) City/County Advances & Loans: (d) U. S. State & Other Long -Term Debt: (2) Interest Expense: (3) Debt Issuance Costs: (4) Other: Specify other: L______._____ (5) Debt Service Subtotai: d. Pianning and Administration Costs (33334.3(e)(1)) (1) Administration Costs: (2) Professional Services (not project based): (3) Planning, Survey/Design (not project based): (4) Indirect Nonprofit Costs (33334.3(e)(1)(8)): (5) Other: Specify other: L (6) Planning and Administration Costs Subtotal: e. On/Off-Site Improvements (33334.2(e)(2)): f. Housing Constnuction (33334.2(e)(5)): j. Transfers Out of Agency (1) For Use Outside Community: https://ssw2.hcd.ca.gov/RDAlfinancialActivityServlet.srv Page 2 of: L________ L________ L________ L_________ L___ ____. L__.___ L.____. 1$456,84~____ I~~,~- I L_.__ L___.____.____ l')/'1Q/'"Jnnr:.. RDA Reporting System - Agency-wide Expenditures Page 3 of: (2) For Transit Village Development Plan (33334.19): (3) Excess Surplus (33334.12(a)(1 )(A)): L___~ L_________ 1_____ 1$3,404 (4) Other. Specify other: rction 33481 .d - L.___um__________ -----__________._______..:l (5) Transfers Out of Agency Subtotal: l$3,4Q!_____ k. Other lt2~J-,-~__ Specify other: Housing Authority admin fee revenue . ------------__ ___________..:l Total Expenditure: 1.~226.J_8~__ Save 1 Redevefopment Agency Reporting System - Agency WDde Expenditures California Department of Housing arid Community Development https://ssw2.hcd.ca.gov/RDAlfmancialActivityServlet.srv 1?/?R/?OO'; RDA Reporting' System - Other Housing FUnd Assets Page 1 of: California Department of Housing and Community Development Redevelopment Agency Repornng System Other Housing Fund Assets. - Sch C, p3 #6 You are Here: Select Year> Schedule Menu> Aoenev Wide Financiars > Other Housing Fund Assets << Previous Page . Admin . Select Year . FAQ . User Info . Status . Print . Logout Agency:CHULA VISTA RDA Fiscal Year :2D05l20D6 Prepared by: Ronie Roble 8. Other Housing Fund Assets (non recurrent receivables) not included as part of line 5 (a) Indebtedness for Set-asides Deferred (Sec.33334.6): HelD? [Sch A(s) Line 5d(2)] (b) Value of Land Purchased with Housing Funds and Held for Deveiopment of Affordable Housing: . (c) Loans Receivable for Housing Activities: (d) Residual Receipt Loans (e) ERAF Loans Receivable (all years) (Sec. 33681): (I) Other Assets: Specify other. $634,844 L__ 1!2..!~~~~~_ ~l_~.2,.~~_ L____ 1$3,553,072 Cash w/Trustee; Cash&Invst; Ptax/lnt/Other Recble .;. y (g) Other housing fund assets Subtotal: 1$17,702,154 Save I https:!/ssw2.hcd.ca.govIRDAladdEditOtherHousingFund.jsp 1 ?/?9/?OOF RDA Reporting System - Other HousingFUndAssets Page 2 of: Redevelopment Agency Reporting System - Other Hot/sing Fund Assets Cafifornia Department of Housing and Community Devefopment https://ssw2.hcd.ca.gov/RDNaddEditOtherHousingFund.isp 1?/?q/?nn California Redevelopment Association Annual Conference & EXPO Redevelopment. Building Better Communities. 2007 CONFERENCE PROGRAM WEDNESDAY. FEBRUARY 28 THURSDAY, MARCH 1 8:30 a.m. 8:00 a.m. Registration Registration 10:30 - 10:45 a.m. 8:00 - 9:00 a.m. Welcome and Overview General session 10:45 -11:45 a.m. 9:15-10:30 a.m. Opening Address Concurrent Sessions 12:00 noon -1:45 p.m. Redevelopment Project Area Awards Luncheon Bus Tour - Historic 2:00 - 3: 15 p.m. Bus Tour - Neighborhood Concurrent Sessions 10:45 a.m. -12:00 noon Downtown Walking Tour Concurrent Sessions 3:30 - 5:00 p.m. Redevelopment Project Area Concurrent Sessions 12:15 - 2:00 p.m. Downtown Walking Tour Lunch and Luncheon Speaker 5:00 - 7:00 p.m. 2:00 - 5:30 p.m. Welcome Reception EXPO Trade Show FRIDAY, MARCH 2 8:00 a.m. 11 :00 a.m. - 12:30 p.m. Registration General Session on Legislatlon 8:30 - 9:45 a.m. 12:30 p.m. Concurrent Sessions Closing Remarks & Adjournment 10:00-10:45 a.m General Session 5c -1 Wednesday Opening Speaker and Awards Luncheon emcee Jack Gallagher Comedian, Actor, and Writer Adapting to Change and Loving itf Thursday Luncheon Speaker Huell Howser Producer/Host of "Califomia's Gold' on PBS Telling the Redevelopment Story Huell will have a special announcement you won't want to miss. Friday General Session Speaker Greg LeRoy Executive Director of Good Jobs Fi~ and author "The Great American Jobs Scam" A voiding the Great American Jobs Scam visit www.calredevelop.org for updated information and registration Registration Form Name: Mr.lMrs.lMs Title: Informal name (to appear on badge): Organization: Address: City, State, Zip: Phone/Fax: Email: Payment Information please check one only o Check enclosed 0 Visa/MasterCard/AMEX Name on card: Card number: Expiration date: CSC#: Signature: Conference Fees Member I Non- *EARLY RATE ! Member Registration o $465 0$615 *'wfAffordable o $500 o $655 Housing Handbook Member Non- Regular Member Registration o $495 0$645 *'wfAffordable o $530 o $685 Housing Handbook Member Non- On-Site Member Registration o $545 o $695 Tour Sign-Up Wednesday Thursday o Downtown 0$15 0$15 Walking Tour Historic Neighborhood Bus Tour Bus Tour *payment and registration must be received by 212107 ~Book delivered at registration. Take advantage of this special offer by purchasing the Affordable Housing Handbook at a BIG savingsl Special needs: Payment & registration must be submitted together. Total payment due: $ Please make checks payable to: California Redevelopment Association 1400 K Street, Suite 204, Sacramento CA, 95814 Phone (916) 448-8760, Fax (916) 448-9397 CRAAnnual Conference & EXPO - Hyatt Regency & Long Beach Convention Center - February 28 - March 2, 2007 Registration Information To register, complete the registration form and fax it to (916) 448-9397; maii it directly to eRA; register online at www. calredevelop.org; or register on-site. Registration includes two lunches, course materials, and refreshment breaks. Student and intern discounts are available on a space available basis subject to verification and approval. Call Judy Jennemann at (916) 448-8760 for details. Cancellation Policy -} Cancellations must be submitted in writing (faxed or emailed documents are acceptable). -} Cancellations postmarked, faxed or emailed by 2121/07 will be charged an $85 cancellation fee. <} No refund for cancellations postmarked 2/22/07 or later, and/or for registrants who do not cancel or attend. ~ For registrants who cancel less than seven days before the day of the event you may (1) send a qualified substitute from your organization, or (2) transfer your PREPAID registration (less a 15% administration fee) to a eRA event of your choice (to be used within a 12- month periOd). Hotel I nformation Hvatt Reaencv LonCl Beach 200 South Pine Ave Long Beach, CA 90802 (562) 491-1234 Rate: $159 (Single/Double) Tax: 12% Parking: $12 for guests (in/out), $6 for non-guests Check-In: 3:00 PM, Check-Out: 12:00 PM Hilton LonCl Beach 701 West Ocean Blvd Long Beach, CA 90831 (562) 983-3400 Guest Rate: $152 (Single/Double) Tax: 12% Parking: $10 daily Check-In: 3:00 PM, Check-Out: 12:00 PM Sponsors Presidential The Festival Companies Goldfarb & Lipman LLP Jones Hall, A Professional Law Corporation Keyser Marston Associates, Inc. McLarand Vasquez Emsiek & Partners Simpson Housing Solutions California Kinsell, Newcomb & De Dios, Inc. K N & 0 / Alta Vista Financial Kane, Ballmer & Berkman, A Law Corporation ~,~~ To learn more about sponsorship opportunities, contact Rich Heitke at (916) 448-8760 or rheitke@calredevelop.org. CALIFORNIA REDEVELOPMENT ASSOCIATION 1400 K Street, Suite 204 Sacramento, CA 95814-3916 .... Sc - 2 PRESORTED FIRST CLASS U,S. POSTAGE PAID SACRAMENTO, CA PERMIT NO. 2086 =