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Home My WebLink About02 RECOGNIZED OBLIGATION PAYMENT SCHEDULE 14 -15AAgenda Item 2 AGENDA REPORT Oversight Board of the Successor Agency to the Tustin Community Redevelopment Agency MEETING DATE: FEBRUARY 25, 2014 SUBJECT/ACTION: ADOPT OVERSIGHT BOARD RESOLUTION NO. 14-05, APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE 14-15A FOR THE PERIOD OF JULY 2014 THROUGH DECEMBER 2014 RECOMMENDATION / PROPOSED ACTION It is recommended the Oversight Board of the Successor Agency to the Tustin Community Redevelopment Agency adopt Oversight Board Resolution No. 14-05, approving the Recognized Obligation Payment Schedule 14-15A ("ROPS 14-15A") for the period of July 1, 2014 through December 31, 2014, and authorize submission of the ROPS 14-15A to the Department of Finance ("DoF") by March 3, 2014, subject to the following conditions: a) The Oversight Board and the Successor Agency reserve all rights to seek payment for any obligations removed by the Department of Finance ("DoF") from ROPS 14- 15A; and b) Should any subsequent modifications be required to ROPS 14-15A, the Executive Director and/or Finance Director, or their authorized designee, shall be authorized to make any augmentation, modification, additions or revisions as may be necessary subject to certification by the Oversight Board Chair. (Note: Pursuant to AB 1484 -amended California Health and Safety Code (HSC) Section 34177(m), the above actions by the Oversight Board shall not become effective for forty-five (45) business days pending a review by the DoF. Within five business days of the DoF's determination, the Successor Agency can request additional review by the DoF and an opportunity to meet and confer on disputed items.) BACKGROUND Assembly Bill 1X 26, the "Dissolution Act", as modified by the California Supreme Court's decision in California Redevelopment Association, et al. v. Matosantos ("Matosantos"), requires the Successor Agency to prepare a Recognized Obligation Payment Schedule (ROPS) looking forward to the six month period covering July 1, 2014 through December 31, 2014, subject to Oversight Board approval. The DoF has given the ROPS a new naming convention of 14-15A and 14-15B for fiscal year 2014-15 with "A" representing the first half of the fiscal year. ROPS 14-15A lists all enforceable obligations that are legally binding and enforceable agreements or Agenda Report February 25, 2014 Page 2 contracts of the former Tustin Community Redevelopment Agency including those necessary for the continued administration of the Successor Agency to wind down the former Agency. Pursuant to the AB 1484 -amended Dissolution Act (HSC 34177(I)(2)(B)), the Successor Agency is now required to submit a copy of the ROPS to the County Administrative Officer, the County Auditor -Controller, and the DoF at the same time that the Successor Agency submits the ROPS to the Oversight Board for approval. ROPS 14-15A was approved by the Successor Agency at their regular meeting on February 18, 2014. On that same day, February 18, 2014, the Governor signed into legislation Assembly Bill 471 ("AB 471"). AB 471 amends Health and Safety Code ("HSC") Section 34171, adding (p) to the Section. It states from July 1, 2014 to July 1, 2018, a "housing entity administrative cost allowance" can be captured on behalf of the local housing authority assuming the housing functions of the former redevelopment agency. On January 17, 2012, the Tustin Housing Authority assumed the housing functions. The administrative cost allowance can be up to 1 percent of the property tax allocated to the Redevelopment Obligation Retirement Fund on behalf of the Successor Agency for each applicable fiscal year, but not less than one hundred fifty thousand dollars ($150,000) per fiscal year. As a result of AB 471 taking effect immediately, ROPS 14- 15A has been updated from the ROPS approved by the Successor Agency on February 18t", incorporating the housing entity administrative cost allowance. The Successor Agency approval gave the Executive Director and/or Finance Director the authority to make changes as may be necessary, subject to certification by the Oversight Board Chair. Upon approval by the Oversight Board, a copy will be submitted to the County Auditor -Controller, the State Controller's Office and the DoF and posted on the Successor Agency's website. ROPS 14-15A includes a form that reconciles estimated expenditures for the period of July 1, 2013 through December 31, 2013 with the actual expenditures. The Finance Department is currently closing out the ROPS expenditure period and there could be adjustments between the submission of the ROPS to the Oversight Board and the submission to the DoF by March 3, 2014. Authorization is requested to allow the Successor Agency's Executive Director and/or Finance Director to augment, modify, add or revise the document as may be needed prior to submitting to the DoF. In addition, authorization is requested, in response to the DoF or County Auditor -Controller comments, to allow the Successor Agency's Executive Director and/or Finance Director to augment, modify, add or revise the document as may be needed. Staff will be available to answer any questions the Oversight Board may have. Attachment: Oversight Board Resolution No. 14-05 OVERSIGHT BOARD RESOLUTION NO. 14-05 A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE 14-15A ("ROPS 14-15A") AND MAKING CERTAIN FINDINGS IN CONNECTION THEREWITH The Oversight Board of the Successor Agency to the Tustin Community Redevelopment Agency finds, determines and declares as follows: A. The Tustin Community Redevelopment Agency ("Agency") was established as a community redevelopment agency that was previously organized and existing under the California Community Redevelopment Law, Health and Safety Code Sections 33000, et seq. ("CRL") and previously authorized to transact business and exercise the powers of a redevelopment agency pursuant to action of the City Council ("City Council") of the City of Tustin ("City"); and B. AB X1 26 ("AB26") added Parts 1.8 and 1.85 to Division 24 of the California Health and Safety Code, which laws cause the dissolution and wind down of all redevelopment agencies ("Dissolution Act"); and C. On December 29, 2011, in the petition California Redevelopment Association v. Matosantos, Case No. S194861, the California Supreme Court upheld the Dissolution Act and thereby all redevelopment agencies in California are subject to the Dissolution Act and were dissolved as of and on February 1, 2012; and D. The Agency is now a dissolved community redevelopment agency pursuant to the Dissolution Act; and E. By a resolution considered and approved by the City Council at an open public meeting on January 17, 2012, the City chose to become and serve as the "Successor Agency" to the dissolved Agency under the Dissolution Act; and F. As of and on and after February 1, 2012, the City serves as the "Successor Agency" and will perform its functions as the Successor Agency under the Dissolution Act to administer the enforceable obligations of the Successor Agency and otherwise unwind the Successor Agency's affairs, all subject to the review and approval by the seven - member Oversight Board formed thereunder; and G. Pursuant to Section 34179, the Successor Agency's Oversight Board has been formed and the initial meeting has occurred on March 13, 2012; and H. Section 34179(e), as amended by Assembly Bill 1484 ("AB 1484"), requires all actions taken by the Oversight Board to be adopted by resolution; and Oversight Board Resolution 14-05 Page 1 of 3 On February 18, 2014, the Successor Agency approved the Recognized Obligation Payment Schedule 14-15A ("ROPS 14-15A") for the period of July 1, 2014 through December 31, 2014; and The Oversight Board has duly considered all other related matters and has determined that the Board's approval of BOPS 14-15A and submission to the California Department of Finance is in the best interests of the City and Agency and in the health, safety, and welfare of its residents, and in accord with the public purposes and provisions of applicable state and local laws and requirements. NOW, THEREFORE, BE IT RESOLVED BY A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY: Section 1. The foregoing recitals are incorporated into this Resolution by this reference, and constitute a material part of this Resolution. Section 2. The Oversight Board approves BOPS 14-15A attached hereto as Attachment No. 1 and incorporated herein, and further authorizes the Successor Agency to transmit this Resolution to the County Auditor -Controller, the State Department of Finance ("DoF"), and the State Controller's Office. Section 3. The Executive Director of the Successor Agency or his authorized designee is directed to post this Resolution on the City/Successor Agency website. Section 4. This Resolution adopted by the Oversight Board shall not become effective no later than forty-five (45) business days after submission to the DoF, pending a review by the DoF. Within five business days of the DoF's determination, the Successor Agency can request additional review by the DoF and an opportunity to meet and confer on disputed items. Section 5. The Secretary of the Oversight Board shall certify to the adoption of this Resolution. APPROVED AND ADOPTED this 25th day of February, 2014. Doug Davert, Chairman Oversight Board of the Successor Agency to the Tustin Community Redevelopment Agency ATTEST: Charles E. "Chuck" Puckett, Secretary Oversight Board of the Successor Agency to the Tustin Community Redevelopment Agency Oversight Board Resolution 14-05 Page 2 of 3 STATE OF CALIFORNIA ) COUNTY OF ORANGE )SS CITY OF TUSTIN ) I, CHARLES E. "CHUCK" PUCKETT, Secretary of the Oversight Board of the Successor Agency to the Tustin Community Redevelopment Agency, do hereby certify that the whole number of the members of the Agency Board is seven; that the above and foregoing Resolution No. 14-05 was duly passed and adopted at a regular meeting of the Oversight Board, held on the 25th day of February, 2014, by the following vote: BOARD MEMBER AYES: BOARD MEMBER NOES: BOARD MEMBERS ABSTAINED: BOARD MEMBERS ABSENT: Charles E. "Chuck" Puckett, Secretary Oversight Board of the Successor Agency to the Tustin Community Redevelopment Agency Attachment No. 1 — Recognized Obligation Payment Schedule 14-15A (July — December 2014) Oversight Board Resolution 14-05 Page 3 of 3 ATTACHMENT NO. 1 RECOGNIZED OBLIGATION PAYMENT SCHEDULE 14-15A (July — December 2014) Recognized Obligation Payment Schedule (ROPS 14-15A) - Summary Filed for the July 1, 2014 through December 31, 2014 Period Name of Successor Agency: Tustin Name of County: Orange Current Period Requested Funding for Outstanding Debt or Obligation Six -Month Total Enforceable Obligations Funded with Non -Redevelopment Property Tax Trust Fund (RPTTF) Funding A Sources (B+C+D): $ 76,500 B Bond Proceeds Funding (ROPS Detail) 76,500 C Reserve Balance Funding (ROPS Detail) - D Other Funding (ROPS Detail) - E Enforceable Obligations Funded with RPTTF Funding (F+G): $ 14,883,181 F Non -Administrative Costs (ROPS Detail) 14,310,463 G Administrative Costs (ROPS Detail) 572,718 H Current Period Enforceable Obligations (A+E): $ 14,959,681 Successor -Agency Self -Reported Prior -Period Adjustment to Current Period RPTTF Requested Funding I Enforceable Obligations funded with RPTTF (E): 14,883,181 J Less Prior Period Adjustment (Report of Prior Period Adjustments Column S) (225,389) K Adjusted Current Period RPTTF Requested Funding (Ir) $ 14,657,792 County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding L Enforceable Obligations funded with RPTTF (E): 14,883,181 M Less Prior Period Adjustment (Report of Prior Period Adjustments Column AA) N Adjusted Current Period RPTTF Requested Funding (L -M) 14,883,181 Certification of Oversight Board Chairman: Pursuant to Section 34177(m) of the Health and Safety code, I hereby certify that the above is a true and accurate Recognized Obligation Name Title Payment Schedule for the above named agency. /s/ Signature Date Recogniwd Obligation Payment Schedule (ROPS) 14-15A - POPS Detail July 1, 2014 through December 31, 2014 (R,pod Amounts in Whole DOIIms) A B c D E F G H I J K L N N O P Funding Sou¢e N—Rede.dgn,nt Rap,dy Tax T,m Fund (Nan-RPLTF) RITF Conhad/Ageanmt Conhad/Ag—nrt Total Outsiandiig Item# Project Named Debt Obligation Oblgatim Type Execution Date Tnmination Date Payee D.,,nptimlRojetl Scope Rojetl Area Debt In ONgation Rebnd1 Bond Roceetls Reserve Balano, Other Funds NonAdnln Admin Su -Month Total $ 167465158 $ 76501 $ - $ - $ 14319463 $ 5]2]18 $ 14959681 1 Housin Tax Allomtion Bmds Bmds lsmed Ona 31112919 91112939 Bondhold,rsvia The Bank Pmc� from the ale of the Bonds All 37935547 N 1293703 $ 1293703 2 Fsral Agmt Fees -TA Bond 2010 Fees 111912919 91112939 The Bank of New York ad.,n,J.,.n of bond a dinnt-[paid All 3,390 N 3,300 $ 3,300 Mellonannually] 3Continuingdisclmumservi—& Fear 111912010 91112039 Applied Best P.d,—; continuing disd.u. cervi fi., All 4,359 N 1350 $ 1350 aNArage services WiIMan&A sumac 2010 Housing bonds and aNihage 7 Direct Rq,ct Related anis R.put Management 71112014 1213112014 Former employees fundal ANNUAL Payroll fa employees fm All N $ - (intluding5alaryand Bme(ts Costs by the Successor Pgenry dirxi pmje,i operation; this ammo[ funded by the Su—., Agenry) thatpnfmm Successor will fluduateannunly. The employees Agency d,,d-fa dno,1 are pefforming pmjxi related d,,t,. pmjetl suppnt ovolving the enfn—thl, obligations od on Rays #10416; Rows #22- #34, Rays #4S#47, & Rows #51af63. 8 PERS InflAdy(annully adjusted) Unfunded LiabId— 711IM14 513012015 Gty of TuJ,n EmpIW—fundedbythe Success or All 140,518 N $ - Ag,ncy that pnfoim Successes Agency ado d- The liability is awed annually and may increase In d --basad on a —,dy of and actuarial as m-phon 9 Bank Analysis Fees Fees 71112014 6/3012015 Bank of Amnion Fees Charged by bank for transactions Al N $ - 10 Payment in Lim of Taxes Project Management 101111999 6'3012015 Gty of Tustin Pgenry monAas to insure receipt of All N $ - A reemeIt-Flanders Pointe Costs nual mmt 11 Payment in Lim of Taxes Project Management 811311998 6'3012015 Gty of Tustin Pgenry monAas to insure receipt of All N $ - A reement-Oran Gardens Costs nual mmt eannut w/Cl 120Imn DDA/ANor Walk Roj,ct Management 31112004 03012015 Redevelopment Agenry Mond.,ngtomsumrthe pmj,ct All N $ - Cosls complies w,ththe ODA. T,th,,xtmt RPTTF funds are not available Io fund Ihisenforceable obligation, thin the obligation shall be mnsidned an mmb,ance of the LMI HF. 13 Arbor Walk Promissory Notes Project Management 31112004 613012015 Redevelopment Agenry Agency mo nd,,t,m,u,th,10 All N $ - Cosls affordable hmieownerahip units are in amply O, the Promissory Notes and I_, Affordable Housing Covenants. In adddh,n, the Agenry pmpares and executes affordable housing documents when affordable homeavnns m(nance m sdl their homes Totheextent RPTTFfun,b not available Io fund Ihis enforceable obligation, thin the shall be considned an I.obligation mmInance of the LMI HF. 14 Heritage Race DDA Project Management 4/1112002 613012015 Redevelopment AgenryAgenry monI—to msum 53 unds All N $ - Cosls omplian" ..,.b,'dy raluvements. To the extent RPTTF funds are not —hbl, Io fund this enf.,—U. obligation, thm the obligation shall be considned an mmbrance of the LMI HF. Recognized Obligation Payment Schedule (ROPS) 14-15A - POPS Detail July 1, 2014 through December 31, 2014 (Repod Amounts in Whole Win.) A B c D E F G H I J K L M N O P Fundng Source N.,Redo,o1W—nt Ropedy Tax Trmf Fu,d (Non-RMTF) RMTF CDnhad/Agement CDnhad/Ag,—mt Total Outstanding Item# Project Name/ Debt Obligation Oblgation Type Execution Date Tsmination Bate Payee D—nptim/RDjed Scope RDjed Area Debt or ONgation Retired Bond Rnoo d Reserve Balanm Other Funds Non-Adnin Admin Su-Month Total 15 Heritage Race Loan Agreement Projed Management 4112/21197 0302015 Redevelopment Agenry Financial assistanm was provided by All N $ - Cosls the Agenry fo the Devdoper for mrebudim d a multi -family projed and theAgenry monitors the terns d the loan agreement (expires 415- 2033),induding the—dual receipt payment. To the extent RPfTF funds not aaailabb t0 fund fhis enforceable obligation, then the obligation shall be considered an mmbrance of the LMI HF. 16 Sir& nd MuAFFamily Projed Management 6127/2911 61302015 Redevelopment Agenry Agenry moods 6 Single Family and All N $ - RehabildafionLoans Costs Mulu,Family Loans bot—n the Agenry and RDpedy Owns of rehabilifatel gopedies. 17 Asset Transfer Oblgations Property 7/1/2014 61302015 Successor Agenry In acmrdanm with Caldornia Health All 206000 N $ - Dispnod— and SafelyCode Sedion 34117(e) the Successor A, is responsible for disposing of assets and RT,ties as dnodel by the Oversight Boal pursuant t0 mbvision a of Sedion 34181. The SucAgenwill cessor ry r a anis associated with the transfer of ssets induding but nd limited tD anfees, tdle costs, recording f— and any dhs as nund dosing anis. 18 Town Center HDusing Deficit SERAF/ERAF 51112000 6130/2015 Agenry's Tann Center Repayment fs Town Cents HDusing Tann Center 976,042 N 976,042 $ 976,042 Redudim Ran HDusingS Ff dlefu,d SnIAde funds d-del f0suppod D,housing Redevelopment adinties n Town Center drying the period d 1986-1992 19 Tax AIIDralion Refundng Bonds Bmds lsmed On 7/1/1998 12/1/2016 BDndhDlders via U S Bank Bond issue f0 fund non-horsing Tann Center 4,904,906 N 155]131 $ 1,557,131 1998 (Town Center) Bdore 12/31/10 projeds. TDtal outstanding debt indudes principal and interest. 20 Fsral M Fees -TA BDA 1998 Fees 1/19/2010 12/1/2016 US Bank administration Df bond ad, d— Town Center 3 N 3300 $ 3300 21 Continuing dsclnure&aNitrage Fens 1/19/2010 101/2016 Applied Best Pradn—e CLt,,nuing d-loure&arbitrage Tann Center 6,010 N 6,000 $ 6,000 Willdan&A nunfes enfor 1998 bmds 22 CDnhad forsgin ,,ng ssvnces Professional 619/2011 12/31/2014 Cnhal Shudures, Ince Slmdural engn-nng assessmentd Tann Center Moo N 8,100 $ 8,100 S—n— Stevens are Parlan Structure 23 Stevens Square Parking Garage PIDWdy 6117/1988 61302015 St—ns Sgaare Parking Thereare ongoing ninfenance msts Tann Center 35,010 N 25,000 $ 25,000 Dedardion Df Covenants, Maintenance Strudure Condominium as requirsl by the CCBRs. In addition, CDndd,—, Reshidims and A.DdaflDn there are me-time, deferred Reservations ain[enance repairs that will be determinsl by the shudural engssa-sme i—nngant. Thecosts aidxefed with ongoing maintenance ddenm nidenance repaim we estimates Recogniwd Obligation Payment Schedule (ROPS) 14-15A - POPS Detail July 1, 2014 through December 31, 2014 (Repod Amounts in Whole Dollars) A B c D E F G H I J K L M N O P Funding Sou¢e N—Redevelopment Ropedy Tax Trost Fund (Non-RMTF) RMTF Conhad/Agement Conhad/Ageement Total OuU.nd J Item# Projed Name/ Debt Obligation Oblgaben Type Execution Date Termination Bate Payee Descripber/Rojed Scope Rojed Area Debt or ONgation Retired Bond Roceeds Reserve Balance 011ier Funds Non-Mmn, Admin Su-Month Total 24 Ambrose Lane/Fnr Time Projed Management 5/1]/2080 UM2015 Redevelopment Agenry Agenry mond—to ensure the Tann Center N $ - Honiebuys Costs afm�bI, homeownership units arein omplianee wdh the Promissory Notes and recorded Affordable Housing Covenants. In addtion, the Agenry prepares a� acetates a0ortlable housing documents when affortlable homeavners refinance or sdl their homes Tothemtent RPfTFfueL not available Io fund Ihis enforeeade obligation, then the shall be comidered an I.nobligation cumbrance of the LMI HF. 25 Res Time H omebuy., Promissory Project Management 5/17/2000 613012015 Redevelopment Agenry Agenry mond.s to ensure the l 8rsl Tann Center N $ - We Costs time homebuyer unitcompliance with the Ra h—r, Note and an Affortlable Housing Covenant. In atldtion, the Agenry Rena—and ecutes aff.,d.ble housing tloorments when the a0ordade homeowner refinances or sills their I ome. To the extent RPfTF funds are not availaNe Io fund Ihis enforceable obligation, then the obligation shall be midned an encumbrance dthe MIHF 26 Makena DDA Project Management 10119/2004 UM2015 Ren—lopment Agenry Mondenng to insure develops sin Tann Center N $ Costs ompliance wdh mhundual obligations. 27 Old Town Raza Retail Rehab DDA Project Management 5/10/2001 UM2015 Redevelopment Agenry Mond.,ng to insure develops is in Tann Center N $ Costs omplianee wdh codradual obligations. 28 Raza Lafayette DDA Project Management 7/2/1905 UM2015 Redevelopment Agenry Mond.,ng to insure develops is in Tann Center N $ Costs omplianee wdh codradual obligations. 29 Ford Conmenunl Rehab DDA Project Management 9/15/1990 613012015 Redevelopment Agenry Mond.,ng to insure develops sin Tann Center N $ Costs omplianee wdh codradual obligations. 30 Micro Center DDA Project Management 11121/1904 613012015 Redevelopment Agenry MonAsing to insure develops sin Tann Center N $ Costs ompliance wAh mhundual obligations. 31 Thompson Building OPA Project Management 6/6/1994 613012015 Redevelopment Agenry Mond.,ng to insure develops sin Tann Center N $ Costs om plianee wdh codradual obligations. 32 ENA Deposit Project Management 6127/2011 613012015 General Motors Reimbn—nent of Good Faith Depood Town Centel N $ Cos s 33 PoOed Rants Agesnents (17) Project Management 612712041 613012015 Redevelopment Pgenry insure seventeen 17 Monurn Tann Center N $ Costs is ants are at compliance wAh todradnal oNgafiom. annum 34 Rooped Village DDA Project Management 6/21/2004 613012015 Redevelopment Agenry Mondnnng to insure develops sin Tann Center N $ Costs omplianee wdh codradual obligations. Recogniwd Obligation Payment Schedule (ROPS) 14-15A - POPS Detail July 1, 2014 through December 31, 2014 (Repoli Amounts in Whole DOIIms) A B C D E F G H I J K L M N O P Funding Source Nan -Redevelopment Rapedy Tax Trust Fund (Nan-RPrTF) RPrTF Contract/Agreement Conhect/Agreement Total 0" -ding Item# Project Neme/ Debt Obligation Obligation Type Execution D -Termination D -Payee Des.. pton/Rsje¢Scope Rsje¢A— Debt or Obligation Retired Band P—d, Reserve Belence Other Funds W,Ad—Admin Six4donth Total 35 Pudic Warks Ag-nnonfl$outh QlyoCnunty Loans 11610711993 W3012030 City of Tustin Original Lean a mount to the Agenry in South Cenfral 25,934,993 N 5,190,371 5,190,371 Central Retlevelopment Projed On or Before 6127111 1993 ,,=,,,yedinotod to be $33,500,"for the Newport Avenue Edension(Newport Untlmpass)to Ednger Avenue. Theinterest raters 5% above the Gdy's average yieM on ,.—nts. Repayment ofthob—s based on Cdy.ndod Phase 1 work (Capital Imprwement Rogram - UP ]0130) that has been completed on the Newpod Avenue Edens -ISR -55 Nodh BoundRamp Remorguou,on Project. The Phase 1 prgeci began in 1993 and was completed in March 2010. Phase 1 ((]P ]0130) contracts not listed on previous EOPS or RODS. There is no duphoafion of obligdions. Phase 2 W,k(CIP 70131) nsists M contracts listed below in Rows #42-#4] and these contracts have not been double counted in Phase 1. Pursuant to Sectiun 1 Public In,Ro,—nt Wark of the Public Works Agoement, the Successor Agenry she pay the City when projects are ompleted antl in s—annual d ndallments (per Section 2 Payment by the Agenry of the Agreement). This 4 installment will reflect initial .imbursement payments until mohnnabon of the Ovorsght Board of 1 the actual increased costs of the I I I I I w Memorandum M Understantling whh Miswllanems 3I20I1985 6/30/2015 Orange County Wafer Tar share ggreemen[ (pre -AB 1290) S.Cen[rel N $ - OrangeCountyWaterDisnd District mthfhe Agmq Applicadlityof (Section 33401 Payment; 3I20I1985) agreement is questionable bmause of prwisims wdh AB1X 26 37 Memorandum of Understanding,dh Mismllanems 911311965 6130/2015 Tustin Unified School Tax shmeag—roont R. 1290.0, South Central N $ - Tustin Undietl School District District Agenry. The agreement prwkles that (Section 33401 Payment; 9/1311985) calor, tax sh-W payments —M ur A. the Agenry has expended $10 million dollars for cunstruchnn of facilities within the South Central Amendment Neo and or retired bunds or otherinde todnessforsuch constructim as prwitletl in the Ageement. The Agmryhasnot reti od the indebfetlness assmiafetl with the 1993 Public Works Agreement andas, it, there have been no em sr—do to date. paymm� Recogniwd Obligation Payment Schedule (ROPS) 14-15A - POPS Detail July 1, 2014 through December 31, 2014 (Repod Amounts in Whole Win.) A B c D E F G H I J K L M N O P Funding Soun, N—Redevelopment Rkpedy Tax T.mf Fund (Non-RMTF) RMTF Contrad/Ageemmt (Dnrt—/Agreemmt Total Oufst.ndng Item# P.ojed Name/ Debt Obligation Oblgabnh Type Execution Date Termination Date Payee D—nptim/Rojed Scope Rojed Area Debt or ONgation Retired Bond Rnoo d Reserve Balanm Other Funds Non-Mm,n Admin Su-Month Total 36 Memo..nJum d Undemtanding wdh M—Ihnems 9/13/1985 6/30/2015 Saddleback Commundy Tax share agreement R.1290wdh South central N $ - .IcbackC nhnunity College college Dist.id Agenq The agreement p.ovkles that Dist.id (Section 33401 Payment; md.in lax sharing payments would 9/13/1985) o u. A. the Agenry has expended $10 million dollars for croslrudion of facilities within the South central A,cn1—nt Neo and or retired bmds o.ofhe.indebfed—fo.such mmtrudim as p—dI,d in the Ag--nt. The Agmryhasnot ..Brod the intlebfetlness assmiatetl with the 1993 Public Works Agreement and, as amts there have been no paymmfsrmad. to date. 39 Newpod Av/SR55 N B Ramp Professional 11/25/20118 613012015 Psomas Engineering M.pping.nd survcys.vices Sodh central N $ - Recon( ration Services 40 Newpod Av/SR55 NB Ramp Professional 112612010 613012015 MdersmPenna Rogram management services Sodh Central N $ - Recon(gur.fion Services 41 Newpod Av. Extension, NIO Eding. Professional 21212010 613012015 Dokkm Engineering Final design services Sodh Central N $ - Av. Services 42 Newpod Av. Extension, NIO Eding. Professional 101812010 fi131V2015 Nu— Landsrape design services Sodh Central N $ - Av. Services 43 Newpod Av. Extension, NIO Eding. Professional 1211612007 fi131V2015 Morrow Management Dry UfilAy de9gn and cmrdinafion Smfh Central N $ - Av. Services 44 Newpod Av. Extension, NIO Eding. Professional 112612010 UM2015MdersmPenna Rogram management services Sodh Central N $ - Av. Services 45 CBS Outdo. Billboard P.ojed Management 12/19/1991 UM2015 Redevelopment Agenoy Mondnnng to insure licensees in Smth Cenfral N $ - Cosls omplimm wdh contractual obligations. 46 Tustin Grove R.nn—ny Notes and P.ojed Management 1/1/1996 UM2015 Redevelopment Agenoy Agenq mond— to msure the sateen Smth Central N $ - AOo.dableHomingCovenanfs Costs 16 af.dablI, homeownership units... In omplian a with the Romissony Notes mtl .em.tletl AO.,leb1e Housing Co✓manfs. In aMifim, the Agency prepares and—utas a0.oable horsing dommenfs when a0.=. hmneowner, ..(nonce or sellfhenhomes. Tothemtent RPTTF funds are not a✓.,hble Io fund this enf.,—U. obligation, thin the obligation shall be comid.ed an mmb..nm of the LMI HF. 47Tustin Grove ARo.daN.F! snng P.ojed Management 12/2]/1995 613012015 Redevelopment Agenoy Mond.ing to msure the """d Smth Cental N $ - DDA Costs complieswithfhe DDA. Totheextmt RPTTF fug are not available Io fund this enf.'—U. obligation, thin the obligation shall be comid.ed an mmb..nce of the LMIHF. 48 Tax Allocation Bones-MCAS Bmdslsmed On. 11/1/2010 9'1/2040 Bmdholdem via The Ban of Bond—to fund non-housing MCASTudin ]5,289,813 N 1839,963 $ 1839,963 Tustin, Se.ies2010 Bd..12/31/10 New Yak Mellon pmjeds. Total outstanding debt indudes principal and interest. 49 Rsoal Agent Fees-TA BonJ 2m0 Fees 9/7/2010 9/1/2040 The Bank of New York admihJnu-of bond adnnt- MCASTushn 135,omi N 3,300 $ 3,300 Me11on Recogniwd Obligation Payment Schedule (ROPS) 14-15A - POPS Detail July 1, 2014 through December 31, 2014 (Repod Amounts in Whole Do1h.) A B c D E F G H I J K L M N O P 'u,ning Snun, NorvRedevelopment Ropedy Tax Trust Fund (Non-RMTF) RMTF ContradlAgeement C ntradlAgeement Total OuU.nd,ig Item# P„ Namel Debt Obligation jed Oblgnbon Type Execution Date Termination Bate Payee D.,,nptimlRojed Scope Rojed Area Debt or ONgation Retired Bond Roceeds Reserve Eld,nn, Othe, Funds Non-Mmn, Admin Su-Month Total 56 Cont-l "I g disclosure services& Fear 9!112610 91112646 Applied Best Radices; Continuing d-Inou,servicesfo, MCASTu9in 121,500 N 1356 $ 1350 erbArege services Wilunn&Associates 2010 MCAS bond'&aNArage 51 Leasebdweenthe USA andthe P,opedy 511312002 9'112040 Redevelopment Agenoy Ropedy Management, Maintenance, MCASTu,in N $ - OtydTushnforPodionsofthe Maintenance Ew,,onmedal Rnn—1 im, and Real Fame, Marine Corps Air Station E9ate obligations of Oty required by Tustin Navy on Lease A. un1i1 conveyance of prnpedies. This includes asset anagement antl tlisposel, p,opedy anagement antl,emetliation. Died pr'jed ndhtetl 9a0ng costs only xiatetl with asset management end dispoel under the DFOC ere Iistedln Row#7. Contradual re'p'ose costs for all other ,esp'nsibild- and , the DFOC Agreement will he as they are incurred antl as requester! M the Depadment of Nav 52 Leese betweenthe USA andthe P,opedy 611612004 9112040 Redevelopment Agenoy Ropedy Management, Maintenance, MCASTu,in N $ - OtydTustinforPanoc, 2—Maintenance Ew,,onmedal Remedatim, and Real Fame, Marine Corps Air Station E9ate obligations of Oty required by Tustin Navy on Lease A. until conveyance of pr'pedies. This includes asset anagement antl tlisposel, p,opedy anagement antl,emetliation. Died pr'jed ndhtetl staling costs only xetetl with asset management end dispoel under the LIFOC ere Iistedln Row#7. Contradual re'p'ose costs for all other ,esp'nsibild- and , the DFOC Agreement will he as they are incurred antl as requester! M the Depadment of Nav 53 Economic D d.pnwnt P,opedy 5h32002 9112040 Redevelopment Agenoy Obligations of Oty required by Navy in MCAS Tu, in N $ - Conveyance(EDC)Applicationfor Maintenance the conveyance of the p,0pedy under Maine Coq,' Air Station (MCAS) the Reuse Plan atloptetl in 2012 This Tustin as Amender! includes asset management and disposal, p,opedy management aM emetliation. Dn dp,ged,datetl sta0ng costs associatetl with asset management antl tlisposal u.., the EDC. Iistetl in Row #1. Contractual response ants In, all othe„esponsibiIn— under the EDC Agreement will be as they are incurred end a"eque ed by the Depadment of Navy. 55 Cod,ad In, Engnening&Planning Rdessional 0810812010 0613012014 RBF Consoling Ran To,k andtmd map services MCASTustin N Services 50 C--f" Plenning Services Pr'fessi'n el9(!/2010 E/3N2015 SMS Architects mplementeti'n Plen end Sba[egy MCAS TI'bn N $ rvices 51 Conbad for Engineering Services Rdessional 0910]12010 G6I30I2014 Hunsake,&Associates Bisposim Sbategy&mapping MCASTustin N Services Recognized Obligation Payment Schedule (ROPS) 14-15A - POPS Detail July 1, 2014 through December 31, 2014 (Ropod Amounts in Whole Do1h.) A B c D E F G H I J K L M N O P Fundng Some NorvRed ,o1W ant Ropedy Tax Tnuaf Fund (Non-RMTF) RMTF Contad/Agesnmt Contad/Agesnmt Total Outslantling Item# Pnojed Name/ Debt Obligation Oblgatim Type Exe[ution Date T.mination Bate Payee D—nptim/Rojed Smut Rojed Area Debt or Obligation Retired Bond Rnoo d Reserve Balanm Others Funds Non-Adnin Admin Su -Month Total 58 GOntad for Rnanud Analysis Professional 1/4/2911 UM2015 Bavitl Taussig&Associates Vnan[ialaMisory servi[es assmiafed MCASTuJ,n 12,750 N 8,990 $ 8,990 Smiles with dbterminiig dstibNion of menu —rated with baft—nd intastrudum oocs 59 NewpoNSR-55 Gateway Master Professional 9/9/2010 613012015 RBF Consulting Reparation of Gateway Masts plan MCAS Tu, in N $ - plan & IanJbraW improvements Smiles and design of IanJboapo impo'rements W Website H oc,ng Agresnent Mis[ellaneom 12/&2m0 6/30/2015 Commgo, LLC WebsAe hmiing f. the MCASTuslin MCASTu9in 1,800 N 1800 $ 1800 websAe Annual 63 Coventry Court Regulatory Pnojed Management 9/30/2010 613012015 Redevelopment Agenry Agenry mond—m[eipt of payment in MCASTu, in N $ - Agreement&Beclamfion of Costs lieu of taxes as well as developers Res[ridrtle Cwenanfs end Omphnro. wdh contractual smi. Supplemental Regulat.y aR.tlable housing oblgations related Agreement fo 153 afoMN. unds within the Pnojed. Tothesdent RMTFfunJb nota✓ kinin, to fund this enfon[eade obligation, then the obligation shall be mmidxed an oinn n— of the LMI HF. fi4 Contact fon Eminonmental S nn— Professional 11116/2010 613012015 Pa[di[ States Constudion of Tustin Ranh Road MCAS Tustin N $ - Smi[es Phase 1 Grading & Stsm Drain ([ontad may be amender to [Droplet. future bmd n,d,tetl pmjeds) 65 Contact for G -T-1, Smiles Professional 99/2010 UM2015 NMG Constudion of Tustin Ranch Road MCAS Tu, in N $ - Smi[es Phase 1'yh, & Su nm Brain may be amentletl to [Droplet. future bmtl-rdnfetl projects) 66 Contact fm Constudion ImprHemenVlntast 5/3/2011 UM2015 Pn.—Tmnspodatlon C Z,udian man agement fon Tustin MCASTuJ,n N $ - Management udme Gnmp Ranch Rmd (Phase 1 entl 2) 67 Contract for Environmental S nn— Professional 11/2/2010 61342015 Vandxmo9 G—Mng Regulatory Agmq consulting MCASTushn N $ - Smi[e 686th Amended Agntfon Adnin Cmis 8/28/2012 6/30/2015 Employees fun1ed by the Adninistn— Bu f. employees, All 481,062 N 429,314 $ 429,314 Reimbursement of Costs and Suc[essm Agmryfhaf .✓.head&legal services nmdxl fm Gty/Atlmin Agmq OWnu Dho Loan pedonm Success. AWnry dino,1 dmi,hJ.`- Opsation. The between [he S Qty Wnmant ft) adn d -as neetletl fon Ovssight Brent dthe SU -1 Cnlff n -HSC Section MM h)tlnntadminis�ra=ive Agenry to the Tu,in COmmundy .1.1—as well as RedevtlDprnent Agency app—ed the n✓shead and legal adm,hJ,,tn,e butlget m Mamh 13, i[es. 2012 and the Successor Agenry adopts) Sumessor Agency Resolution No. 12-04 on March 20, 2012 apgwing the Admini9mtive Budget and app—o,i the "Ageement for Reimbunssnmt of Costs entl City/Su[[e4on Agenry Operations Loan". Thisamountwill fluctuate annually . The AAmin9native Budget ua1[ulafed in a.mdan[e with Cald.nia H-111, and Safety Code Sstion M171(b), 3% of the pnoWdy taxallocated to the Su[[esson Agenry fm FV 2011-2012. Recogniwd Obligation Payment Schedule (ROPS) 14-15A - POPS Detail July 1, 2014 through December 31, 2014 (Report Amounts in Whole D.1h.) A B C D E F G H I J K L M N O P running Source Nan -Redevelopment Rapedy Tax Trust Fund (Nan-RPrTF) RPrTF Contract/Agreement Contract/Agreement Tate) Outstanding Item# P,q-Name/ Debt Obligation Obligation Type Execution Date Termination Date Payee De Iptian/Rga'sc Prajed Area Debtor Obligation Retired Band Prxeeds Reserve Balance Other Funds W,Ad—Admin Sixbvlanth Total 693,d Amenund Agmt for OPNDDAoCon9ructi 0812812012 W3012014 City of Tustin Phase 2 Tustin Ranch Road All N Reimbur_not of Costs and o proveme Imnts Rqnt CitylAdmin Agenq Operations Loan between the S Qty or nt to Caldani. HSC Section 34180 (e). 990 70 Direc[Prajec[+elated casts Project Management 1/1/2014 0/3N2015 Employees that pefform Annual Payroll for employees MCAS Tustin 153,000 N 76,500 $ 76,500 acioted with MCAS Tustin T. Costs direst project-ohted supporting Bond ..nted projects eres2010 Allocation Bonds, Z'201 0 adinnt,es for the MCAS bnduding Salary and Benefits of Tustin Tax Allocation bond employees) fundal pn.pdt 71 Affardabl a Housing Reimbursement Qty/County Loans 6151200] 6'3012030 Oty of Tustin Initial Agresnont between the Cdy antl All 16,393,177 N 3,304,253 $ 3,304,253 Agreement and Frst Amendment On or Before 6127/11 Agenoy fa the propose of reimbursing Between City no Agoncy the Cdy fo, —bng the Agencyin oano,,W ont its affordable housing oblic)3hi at Tustin Field I & 11. 72 South Central Rgect Area Loan Cdy/County Loans 9/2/21108 613012030 Oty of Tustin Roject purposes loan. Amount s Sonth Central 4,050,000 N $ - OnorBefore6127/11 &,M from ApWndu D of the fourth Frve-Yon, Implementation Plan of the Sonth Cenhallfown Cents Project Areas no adopted on Octobs 5, 2010. Continuation of Loan to Agenoy on ABninist.b. Agreement adopted by Council on September 7,2010. The mount was arg-Ily toaoed to the Agenq.n SWtember2,2008. Rnn loans to the Agency wse for differing mounts as needed by projed area. 73 Housing Tax Allocation Bonds, Logel 7/1/2014 6130/2015 Oty Afforn" Woodruff, project-sWcific l".1 --for bond All 10,000 N 5,000 $ 5,000 Ssies 2010 -Legal So— SRodhn&Smad bnduding related adiob. identifiedin Rau#1 Shad ing Yocra Carlson & Routh, Remy, Thames, Moose & Manley; W.tss & Company; Jeanette Justus; Arbruster G.Id—M, & una LIP; CopWllo & Noel LIP; and Kutak Rock) 74 Ol.n DDA/ANor Walk - Legal Logel 7/112014 6130/2015 City Aft --'-Woodruff, project-sWcific legal services for All 10,000 N Vol) $ 5,000 Ssvices SWIM&Smad, et al enforceable obligation activd- identifisl in Rows#12-13 75 Heritage RaceDDA/Loan Logel 7/112014 6130/2015 City Afforney-Woodruff, project -specific legal services for All 5,000 N 2,5110 $ 2,500 Agreement -Legal Services SRodhn&Smart, et al. enforceable obligation aclivdies identifisl in Rows#14-15 76 Single and MudFF.mily Legal 7/112014 6130/2015 City Afforney-Woodruff, Pd' P,.legal services for All 5,000 N 2,5110 $ 2,500 Reh.IAdation Loans - Legal SWIM&Smad, et al enforceable obligation activdies Ssvices i&nt,fiW in Row#16 11 Town Center Housing Deficit Legal 7/112014 6130/2015 City Aft --'-Woodruff, Pd' P,.legal services for Tann Center 5,000 N 2,5110 $ 2,500 Reduction L." Services SWIM&Smad, et al enforceable obligation activdies identifisl in Row#18 78 Tax Alloration Refundng Bonds LeePl 1/112014 613012015 City Afforncy-Woodruff, project-sWcific legalssvices for bond Tann Center 5,000 N 2,5110 $ 2,500 1998 own Center - I S odhn & Smad et a1. related adiob. identified in Rau #19 Recogniwd Obligation Payment Schedule (ROPS) 14-15A - POPS Detail July 1, 2014 through December 31, 2014 (Ropod Amounts in Whole Do11ms) A B C D E F G H I J K L M N O P Funding Source Nan-Redevelepment Rapedy Tax Trust Ful (Nan-RFTTFF) RITF GaEaect/Agreement Centrad/Agreement Tafel Item# Prajec[Neme/Debt Obligation ObligaOon Tvpe Execution Date Termination Date Payee DesrnpOan/Praje¢Scape Praje¢Aree ,Obli Obligate, Debt err Obligation Retired Band Prxeeds Reserve Belence Other Funds Ne,Ad—Admin Sixbvlanth Tafel 79 Stevens Square Parking Garage Legal 01/01/2814 Il M2014 City Affmne7-Wootlmff, project- specific legal services for Tann Center N Declaration of CD✓enants, SpIadlin & Sr.,, et a1 enfmceade obligation aab,dca Reatridims and itlentifih in Rows#22-23 CCDndrions, Reservations - Legal Services Wrta Time Legal 01/01/2014 86130'2014 City Aff.`W-Wootlruff, project- specific legal services for Tovn Center N u.Lane/Fmt Homebuyer- Legal Services Spratllin & Small, et a1. enforceade obligation adivM.a itlentifih in Rows #24-25 81 Tustin G— - Legal Services Legal 01101/2014 WIWI2(114 Cry Al—cy- WooduB, project -specific legal services for South Central N SpradIM & Small, et a1. enforceade obligation adivM.a itlentifierf in Rowa# 7 82 Tax Allac,,te, Bands -MCAS Legal 7/1/2014 6/30/2015 Cry Attamev-WeetI, praje''pec"fclegal service.fa. band -MCAS Tustin 50,000 N 25000 $ 25000 Tustin Series 2010 -Leal Services S.adl",&Smartet al related a-ities Identified", Raw#48 83 Lease bdween the USA and the Legal 01/01/2014 8613012014 City Affmncy- Woodruff, project -specific legal services for MCASTudin N City d Tustin for Pau—of the Sgarllin&Smad, et al. -1 obligation adivries Former Marine Corps Air Station idantifih in Row #51 Tustin - Legal Services 84 Lease bdween the USA and the Legal 0118112814 8fi13012814 City Affmncy-Woodruff, project -specific legal services for MCAS Tudin N City d Tustin for Parcel 22 d the Sgadlin & Smad, et a1. enforceade obligation aah,M s Former Marine Cor Air Station idantified in Row#52 SSE... emit D ... lapm.,[Legal 7/1/2014 6/30/2015 a, Atterney-Waedruff, prejectspecific legal.... Ices far MCAS Tustin 80,000 N 40000 $ 40000 Conveyanm(EDC) Application for Spmdlin&Small, et al enforceable obligation adW'e, Marine Corps Air Statim (MCAS) identifier" in Row#53 Tustin as Amended - Legal Services 86 Coventry Court Regulatory Legal 7/1/2014 613012015 Gty Affornq-Woodruff, project -specific legal ..vices for MCAS Tustin 5,000 N 2.500 $ 2500 Agreement & Decla.at"on of Sgadlin & Small, et a1 enfomeade obligation ad,vd- Rest.id-C..,a,t, antl itlentifietl in Row#63 Supplemental Regulatory Agreement -Legal Services S7Affadeble Housing Rdmbursement L /0112014 Y-WDotlmff, project -specific legal services for N AgePment antl Aff.nable Housing Small, et al. enfomeade obligation adivries DDA. -Legal Services identifier" in Row #71 SS Canhec[far Maintenance&Erasion Papery 12"]12010 UM2015 Se Cal Sandbags In acca.da,ce wrhthe.E.,Z'"c MCASTust", y $ - Con[rol Maintenance Developmen[Conveyance Agreement, maintenance of undeveloped podions Df the former Marine Corps Air Statim, including erosion contrDI 89 Off— Lease Agreement Admin Costs 311/2007 6/3012016 PK L.—Square SC LP Once Lease for SDC—Dr Agenay All N $ - Operations 90 HDusing Endy Adnini.bative Cost Admin Cmis 7/1/2014 6/30/2018 Tustin Hmsi J Mthority Pursuant t0 AB 471, filed Feb 11I All 800,000 143,404 $ 143,404 Allavance 2014, housing administrative cent allowance for the Tustin Housing Adhudy whi h assumed the housing duties d the former Tustin Community Redevdopmed Aganay $ $ $ $ Recognized Obligation Payment Schedule (ROPS) 14-15A - Report of Cash Balances (Report Amounts in Whole Dollars) Pursuant to Health and Safety Code section 34177(1), Redevelopment Property Tax Trust Fund (RPTTF) maybe listed as a source of payment on the ROPS, but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obligation. A B C D E F G H I Fund Sources Bond Proceeds Reserve Balance Other RPTTF Prior ROPS RPTTF Bonds Issued Bonds Issued Prior ROPS period distributed as Rent, on or before on or after balances and DDR reserve for next Grants, Non -Admin and Cash Balance Information by ROPS Period 12/31/10 01/01/11 balances retained bond payment Interest, Etc. Admin I Comments ROPS 13-14A Actuals (07/01/13 -12/31/13) 1 Beginning Available Cash Balance (Actual 07/01/13) Note that for the RPTTF, 1 + 2 should tie to columns J and O in the Report of Prior Period Adjustments (PPAs) 32,202,385 1,476,061 2 Revenue/Income (Actual 12/31/13) Note that the RPTTF amounts should tie to the ROPS 13-14A distribution from the Coun Auditor-Controllerdunn June 2013 77,905 110,679 5,144,447 3 Expenditures for ROPS 13-14A Enforceable Obligations (Actual 12/31/13) Note that for the RPTTF, 3 + 4 should tie to columns L and Q in the Report 134,091 4,794,058 4 Retention of Available Cash Balance (Actual 12/31/13) Note that the RPTTF amount should only include the retention of reserves for debt service approved in ROPS 13-14A 288,497 5 ROPS 13-14A RPTrF Prior Period Adjustment Note that the RPTTF amount should tie to column S in the Report of PPAs. No entry required 225,389 6 Ending Actual Available Cash Balance C to G=(1+2 -3-4),H=(1+2-3-4-5) $ 31,807,702 $ - $ - $ - $ 110,679 $ 1,601,061 ROPS 13-14B Estimate (01/01/14 - 06/30/14) 7 Beginning Available Cash Balance (Actual 01/01/14) (C, D, E, G = 4 + 6, F = H4 + F4 + F6, and H = 5 + 6) $ 32,096,199 $ - $ - $ - $ 110,679 $ 1,826,450 8 Revenue/Income (Estimate 06/30/14) Note that the RPTTF amounCs should tie to the ROPS 1114B distribution from the Coun Auditor-Contrdler Burin Janua 2014 9 Expenditures for 13-14B Enforceable Obligations (Estimate 06/30/14) 10 Retention of Available Cash Balance (Estimate 06/30/14) Note that the RPTTF amounts may include the retention of reserves for debt service approved in ROPS 13-148 11 Ending Estimated Available Cash Balance (7 + 8 - 9 -10) $ 32,096,199 $ - $ - $ - $ 110,679 $ 1,826,450 Recognized Obligation Payment Schedule 14-15A - Notes July 1, 2014 through December 31, 2014 Item # Notes/Comments 35 On January 28, 2014, the Oversight Board to the Successor Agency amended and reinstated the Public Works Agreement and the amount owed is $25,934,993 71 On January 28, 2014, the Oversight Board to the Successor Agency amended and reinstated the Affordable Housing Reimbursement Agreement and the amount owed is $16,393,177 72 The South Central Project Area Loan is pending the Oversight Board amending and reinstating the Loan and the amount owed is $4,650,000 70 Direct project -related costs associated with the use of MCAS Tustin Tax Allocation Bonds are pending.