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HomeMy WebLinkAbout05 RDA ANNUAL REPORT 12-5-05QTY AGENDA REPOR 4W MEETING DATE: DECEMBER 5, 2005 TO: WILLIAM A. HUSTON, CITY MANAGER FROM: REDEVELOPMENT AGENCY SUBJECT: 2004-2005 ANNUAL REPORT SUMMARY Agenda Item 5 Reviewed: City Manager Finance Director N/A Redevelopment Law requires that the Redevelopment Agency submit to the legislative body an annual report of housing activity for the preceding fiscal year. RECOMMENDATION It is recommended the City Council take the following actions: Receive and File an annual report of housing activity for FY 2004-2005. 2. Direct that a copy of an annual report of housing activity for 2004-2005 and all reporting documents and forms be executed in final form and filed with the City of Tustin, the State Controller and State Department of Housing and Community Development. FISCAL IMPACT There is no fiscal impact associated with this action. BACKGROUND/DISCUSSION California Health and Safety Code Section 33080.1 requires the preparation and filing of an annual report of housing activity by a redevelopment agency with its legislative body. A copy of this report must also be filed with the State Controller and with the State Department of Housing and Community Development within six months after the end of the Agency's fiscal year. The annual report must contain the following information: City Council Report December 5, 2005 2004-2005 Annual Report Page 2 1. An independent financial audit of the previous fiscal year. The audit must include an opinion of the Agency's compliance with laws, regulations and administrative requirements governing activities of the Agency. 2. A fiscal statement containing the following information: a. The amount of outstanding indebtedness of the Agency. b. The amount of tax increment property tax revenue generated. C. The amount of tax increment revenues paid to taxing agencies pursuant to Section 33401. d. The required Annual Report of Financial Transactions to the State Controller's Office. 3. Any other fiscal information the Agency believes is useful. 4. A description of the Agency's activities affecting housing and displacement containing the following information: a. The total number of households displaced or moved from their dwelling units as part of a redevelopment project during 2004-2005. b. An estimate of the total number of households that will be displaced during 2005-2006. C. The total number of dwelling units assisted housing persons and families of low to moderate income as a part of a redevelopment project. d. The total number of Agency assisted dwelling units constructed, substantially rehabilitated, acquired or subsidized during 2004-2005 for occupancy at affordable cost by persons and families of low to moderate income. e. The status and use of the Low to Moderate Income Housing Fund, created pursuant to Section 33334.3. City Council Report December 5, 2005 2004-2005 Annual Report Page 3 Any other information the Agency believes useful to explain its housing program. Any excess surplus funds which have accumulated in the Low to Moderate Income Housing Funds. Excess surplus funds are defined as any unexpended or unencumbered amount in the Housing Fund that exceeds the greater of $1,000,000 or the aggregate amount deposited in the fund in the preceding four (4) fiscal years. Monies are deemed encumbered if committed by a legally enforceable contract or agreement. h. Any other information the Agency believes is useful to explain its housing program. ANALYSIS Since there is only one Agency meeting scheduled in December, 2005, it is necessary to provide the Agency's audit materials in draft form. While the materials are assumed to be substantially complete, the Finance Director and independent auditor may need to make non substantial adjustments to the final numbers prior to submitting to the State. The following responds to specific information required by the State. Independent Financial Audit and Compliance Audit: A copy of the draft independent financial audit and compliance audit for 2004- 2005 is included as Attachment I. 2. Fiscal statement: a. The amount of outstanding bonded indebtedness of the Redevelopment Agency, as of June 30, 2005, was reported to be $19,709,128. In addition, the Agency has outstanding loan obligations of $2,776,042 to the Town Center Housing Set -Aside Fund Deficit and $1,900,158 to the South Central City loan. b. The amount of gross tax increment property tax revenue received by the Redevelopment Agency in 2004-2005 was $9,839,172. C. The amount of tax increment paid to taxing agencies pursuant to Section 33401 was $2,000. City Council Report December 5, 2005 2004-2005 Annual Report Page 4 d. The required annual report of financial transactions to the State Controller will be submitted with all final reporting documentation, forms and the final audit report prior to December 31, 2005. 3. There is no other fiscal information, which the Agency believes to be useful at the present time. 4. Activities Affecting Housing and Displacement: a. The total number of households displaced or moved as part of the Town Center and South Central Redevelopment projects during 2004-2005 was 0. b. The total number of households estimated to be displaced as part of the Town Center or South Central project areas in 2004-2005 is 9. C. The total number of low to moderate -income dwelling units demolished or removed from the housing stock in 2004-2005 was 0. d. The total number of Agency assisted dwelling units which were constructed, rehabilitated, acquired or subsidized in 2004-2005 for occupancy at an affordable housing cost by persons and families of low to moderate income was 78. For 2004-2005 the City entered into Housing Agreements with Moffett Meadows Partners, LLC, regarding the construction of 1,542 housing units located in the MCAS Tustin Redevelopment Project area which will be managed and monitored by the Redevelopment Agency, including 308 affordable housing units with 73 units to be restricted for very low-income households, 125 units to be restricted for low-income households, and 110 units to be restricted for moderate -income households. These developments will be undertaken in furtherance of the MCAS Tustin Reuse/Specific Plan and the MCAS Tustin Redevelopment Plan and the City-wide Comprehensive Affordable Housing Strategy. In addition, the Agency will be continuing with ongoing programs to provide additional opportunities for affordable housing. These programs include participation in the countywide Mortgage Credit Certificate Program and rehabilitation of dwelling units through the Agency's Housing Rehabilitation Program. City Council Report December 5, 2005 2004-2005 Annual Report Page 5 e. As of June 30, 2005, the Agency's low to moderate -income housing set- aside fund balance for the South Central Project Area was $7,032,687, which after adjustment for assets (loans receivable and land held for resale) results in an available funds balance of $5,194,181. The available funds balance does not reflect other Agency approved encumbrances as reported on the attached HCD Report Schedule C. f. As of June 30, 2005, the Agency's low to moderate -income housing set- aside fund balance for the Town Center Project Area was $3,629,227, which after adjustment for assets (loans receivable and land held for resale) results in an available funds balance of $1,758,001. The available funds balance does not reflect other Agency approved encumbrances as reported on the attached HCD Report Schedule C. g. As of June 30, 2005, the Agency's low to moderate -income housing set- aside fund balance for the MCAS Tustin Project Area was $795,377. The available funds balance does not reflect other Agency approved encumbrances as reported on the attached HCD Report Schedule C. As of July 1, 2005, there is no excess surplus in the Housing Set -Aside Fund for the combined Project Areas. Agency staff will be available to respond to any questions at the City Council's meeting of December 5, 2005. As a result of the City Council's action, all final reporting documentation and forms will be filed with the State Controller and State Department of Housing and Community Development prior to December 31, 2005. �2;lrf Christine A. ShinglAh Jim Draughon Assistant City Manbder Redevelopment Program Manager Attachments: I. Draft June 30, 2005 Independent Financial Audit and Compliance Audit II. HCD Report of Redevelopment Agency Housing Activities for FY Ending June 30, 2005 ATTACHMENT I TUTSTIN COMMUNITY REDEVELOMENT AGENCY Annual Financial Report June 30, 2005 TABLE OF CONTENTS Independent Auditors' Report Management's Discussion and Analysis (Unaudited) Basic Financial Statements: Statement of Net Assets Statement of Activities Balance Sheet - Governmental Funds Reconciliation of the Balance Sheet VAQovemmt Statement of Net Assets Statement of Revenues, Expenditures an h Governmental Fun Reconciliation of temen Revenues, Fund Balances of Funds to and onC for Complia Based on an and Changes in of Activities n 1 Control over Financial Reporting h ovisions Contained in the Guidelines -velopment Agencies) and Other Matters Statements Performed in Accordance with Page I 8 9 10 13 14 17 19 9 September 21, 2005 The Board of Directors of the Tustin Community Redevelopment Agency We have audited the accompanyingfinancial stat major fund, and the aggregate re m3 n,ng mfom Redevelopment Agency (Agency), a compone f the for the year ended June 30, 2005, which collectiv n statements as listed in the table of contents. These finAM the Agency management. Our responsi is to express based on our audit gov tal activities, each L of the Community of Tustin, OIDIfifia as of and the Agenc3F basic financial ments are the responsibility of is on these financial statements We conducted our audit in accordance with di ' en accepted in the United States of America and th ds applica an audits contained in Government Auditing Standazds is y omptroller eneral o the United States. Those standards require that we plan orm audit to reasonable assurance about whether the financial statements are misstat t. An audit includes examining, on a test basis,evjdencejI&VIj&Lng th es in the financial statements. An audit also includes as co princip es used and significant estimates made by mane as well as ting financial statement presentation. We believe that our au es a reasonaMbasis Wur opinions. In our opinionALmcial silements referred to above present fairly, in all material respects, the respective finMW pos#bn of the governmental activities, each major fund and the aggregate remaining 7ftdalormation of the Agency as of June 30, 2005, and the respective changes in financial po ion thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America. In accordance with Government Auditing Sandards, we have also issued our report dated September 21, 2005, on our consideration of the Agency's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts, grant agreements and other matters. The purpose of that report 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 financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be read in conjunction with this report in considering the results of our audit. The management's discussion and analysis identified in the accompanying table of contents is not a required part of the basic financial statements, but is 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 supplementary information. However, we did not audit the information and express no opinion on it. 2 TUSTIN COMMUNITY REDEVELOPMENT AGENCY Statement of Net Assets June 30, 2005 ASSETS Cash and investments Taxes receivable Prepaid items and deposits Loans receivable Land held for resale Restricted assets: Investments with fiscal agent Capital assets, not depreciated Capital assets, net of accumulated depreciation LIABILITIES Accounts payable Interest payable Deferred revenue Due to the City of Tustin Noncurrent liabilities: Due within one ye Due in more than one Invested in cap Restricted for: Debt service Community Unrestricted Total Net Assets Governmental Activities $ 32,296,913 173,905 30,000 1,246,263 3,847,064 1,677,305 5,241,432 9,168,390 825,249 59,027 1,248,435 4,945,624 960,000 14,030,000 22,068,335 14,409,822 1,677,181 11,457,291 4,068,643 $ 31,612,937 See Accompanying Notes to Financial Statements. 9 TUSTIN COMMUNITY REDEVELOPMENT AGENCY Statement of Activities For the Year Ended June 30, 2005 Functions/programs: Governmental activities: Community development Interest on long term debt Total Governmental Activities General revenues: Taxes: Tax increment Expenses $ 1,71 See Accompanying Notes to Financial Statements. 01 ated Net (Expenditures) Revenue and Changes in Net Assets Governmental Activities $ (1,719,106) (839,428) 9,839,171 147,163 119,038 889,835 10,995,207 8,436,673 23,176,264 $ 31,612,937 TUSTIN COMMUNITY REDEVELOPMENT AGENCY Balance Sheet Governmental Funds June 30, 2005 Assets Cash and investments Investments with fiscal agents Taxes receivable Deposit Loans receivable Land held for resale Total Assets Liabilities Accounts payable and accrued liabilities Due to other funds Due to the City of Tusti Deferred revenue A Total Reserved fo 11 Debt service Land held for Low income I Unreserved - ur. Debt Service Funds South Central Tustin Center Marine Base Project Area Project Area Project Area $ 13,929,023 , 7,801 $ 3,086,556 1,677,305 69,1 42,788 1,349 $ IjWIjk1% 6,787,89 $ 3,087,905 $ 802,343 349,505 19,782 $ 7,348 19,782 7,348 1,151,848 13,978,406 6,780,546 1,936,057 Total Fund Balances (Deficits) 13,978,406 6,780,546 1,936,057 Total Liabilities and Fund Balances $ 13,998,188 $ 6,787,894 $ 3,087,905 See Accompanying Notes to Financial Statements. 10 Funds $ 1,275,886 $ 6,303,714 22,152 15,000 1,133,506 $ 38,595 1,345,000 705,000 $ 2,620,886 $ 8,179,372 TA $ 1,812,5AOP%4 26,383 R 774,162 797,064 29,655 $ 3,499 $ 3,875 $ 5,58 10452 $ 8;498 5 3,000,000 1,000,000 1,790142,8 76,517 3,005,J&&...AfflS 0 77,969 1,008,498 7P,000 1,797,064 7,687 1,832,163 (384,403) (563,295) (952,460) (384,403) 7,032,687 (563,295) 3,629,227 (952,460) $ 2,620,886 $ 8,179,372 $ 38,595 $ 3,707,196 $ 56,038 (Continued) 11 South Central Yown Center South Central Low Income Town Center Low Income Marine Base Project Area Housing Project Area Housing Project Area $ 1,275,886 $ 6,303,714 22,152 15,000 1,133,506 $ 38,595 1,345,000 705,000 $ 2,620,886 $ 8,179,372 TA $ 1,812,5AOP%4 26,383 R 774,162 797,064 29,655 $ 3,499 $ 3,875 $ 5,58 10452 $ 8;498 5 3,000,000 1,000,000 1,790142,8 76,517 3,005,J&&...AfflS 0 77,969 1,008,498 7P,000 1,797,064 7,687 1,832,163 (384,403) (563,295) (952,460) (384,403) 7,032,687 (563,295) 3,629,227 (952,460) $ 2,620,886 $ 8,179,372 $ 38,595 $ 3,707,196 $ 56,038 (Continued) 11 TUSTIN COMMUNITY REDEVELOPMENT AGENCY Balance Sheet Governmental Funds (Continued) June 30, 2005 Assets Cash and investments Investments with fiscal agents Taxes receivable Deposit Loans receivable Land held for resale Total Assets Accounts payable and accrued liabilities Due to other funds Due to the City of Tusti Deferred revenue A Total Reserved fo . Debt service Land held for Low income 1 Unreserved - ur Total Fund Balances (Deficits) Total Liabilities and Fund Balances See Accompanying Notes to Financial Statements. 12 Other Governmental Fund 337 Total Governmental Funds $ 32,296,913 1,677,305 173,906 30,000 1,246,263 3,847,064 39,271,451 $ 825,250 945,624 4,000,000 1;248,435 7,019,309 22,695,009 2,502,064 8,159,850 $ 795,377 (1,104,781) 795,377 32,252,142 $ 795,377 $ 39,271,451 TUSTIN COMMUNITY REDEVELOPMENT AGENCY Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Assets June 30, 2005 Amounts reported for governmental activities in the Statement of Net Assets are different because: Fund balances for governmental funds $ 32,252,142 When capital assets (land, buildings, equipment) that are to be used in governmental activities are purchased or constructed, the costs of those assets are reported as expenditures in governmental funds. However, ft Statement of Net Assets includes those capital a20 among the assets of the Agency as a whole. Beginning Balance, net of depreciation Current year additions Current year depreciation Ending Balance, net of depreciation Long-term li governmental current period liabilities. All 14,409,822 (14,990,000) (Piot accrued in recognized as an expenditure (59,027) $ 31,612,937 See Accompanying Notes to Financial Statements. 13 TUSTIN COMMUNITY REDEVELOPMENT AGENCY Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds For the Year Ended June 30, 2005 Revenues: Taxes Investment income Rental income Other revenue Total Revenues Expenditures: Current: General government. Community services Educational Revenue Augmentation Fund payment Capital outlay Debt service: Principal retirementAw Interest and fiscal AL Total in Debt Service Funds South Central Tustin Center Marine Base Project Area Project Area Project Area $ 2,625,855 $665,185 $ 2,419,829 357,546 7,277 2,419,829 0 28,578 11 3,W 265,702 14,729 80,029 7F 263,938 119,538 920,000 67,800 730,940 43,908 194 .2,209,158 178,175 2,491,207 683,304 2,241,654 Fund Balance ficits), Beg o^7ear 11,487,199 6,097,242 (305,597) Fund Balances (De .End ear $ 13,978,406 $ 6,780,546 $ 1,936,057 See Accompanying Notes to Financial Statements. 14 69,030 80,286 187,083 60,012 $ 95,318 (62,688) (5 ) 935,623 9,87 4 , 61 1,004,65 7 403,609 95,318 ,014) ,75 ,054,410) 389,827 (95,318) 5 6,0' 35 491,115 3,239,400 (857,142) $384,40 7,03 87 $ (563,295) $ 3,629,227 $ (952,460 (Continued) 15 South Central Town Center South Central Low Income Town Center Low Income Marine Base Project Area Housing Project Area Housing Project Area $ 656,464 296 $ 666&L3,436 $ 38,639 196,667 $ 2,759 15,000 77,668 39,788 73,551 53,639 1,004,350 42,547 69,030 80,286 187,083 60,012 $ 95,318 (62,688) (5 ) 935,623 9,87 4 , 61 1,004,65 7 403,609 95,318 ,014) ,75 ,054,410) 389,827 (95,318) 5 6,0' 35 491,115 3,239,400 (857,142) $384,40 7,03 87 $ (563,295) $ 3,629,227 $ (952,460 (Continued) 15 TUSTIN COMMUNITY REDEVELOPMENT AGENCY Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds (Continued) For the Year Ended June 30, 2005 Revenues: Taxes Investment income Rental income Other revenue Total Revenues Expenditures: Current: General government Community services Educational Revenue Augmentation Fund payment Capital outlay Debt service: Principal retirement Interest and fiscal Fund Fund Balances Other Total Governmental Governmental Funds Funds $ J25,543 $ 9,839,172 889,833 147,162 119,040 80 10,995,207 10,166 561,373 393,896 543,353 2,246,558 920,000 842,648 10,166 5,507,828 795,377 5,487,379 26,764,763 $ 795,377 $ 32,252,142 See Accompanying Notes to Financial Statements. 16 TUSTIN COMMUNITY REDEVELOPMENT AGENCY Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities For the Year Ended June 30, 2005 Amounts reported for governmental activities in the Statement of Activities are different because: Net change in fund balances - total governmental funds $ 5,487,379 When capital assets that are to be used in governmental activiti e purchased or constructed, the resources expended for those s are reported as expenditures in governmental funds. How the Statement of Activities the cost of those assets is alloc ove estimated useful lives and reported as depreciatio n This the amount by which capital expenditures $ 6,55 ) exceeded depreciation $(220,484) in the current period. Repayment of long-term debt is reported asnditures in governmental funds, and thus' has th ect of reducin d balance because current financial resources h used. For uqE&gVcy as a whole, however, the principal pa en a the lia es in the Statement of Net Assets and do no sul a in the Statement of Activities. 920,000 Some expenses r in the tement of 'ties do not require the use of current furan s d there a are not reported as expenditur ve Net a in accrue est fo ent period 3,220 Ch Net Asse f Governmental Activities $ 8,436,673 See Accompanying Notes to Financial Statements. 17 18 I. TUSTIN COMMUNITY REDEVELOPMENT AGENCY Notes to Financial Statements June 30, 2005 Summary Of Significant Accounting Policies A. Description of Reporting Entitv The Tustin Community Redevelopment Agency, a component unit of the City of Tustin, was established October 20, 1976, pursuant to the State of California Health and Safety Code, Section 33000, enKaredthlin "nity Redevelopment Law". Its purpose is to prepare and cs for improvement, rehabilitation, and redevelopment of blighted e territorial limits of the City of Tustin. The City provides managee to the Agency, and the members of the City Council also act as�edy of the Agency. In accordance with GASB Code the Agency's financial activities activities of the City of Tustin for Tax Increment Financing The Agency's primary source City, comes from property t computed in thkaftLing ma 2100, "Definingoildng Entity", �inclu (blended) the financial roans and advances from the allocated to the Agency are (a) Thed val 'on of all p within the project area is determined on the da d f the Re velopment Plan. ro esNd to the incremental increase in assessed values after the adoption e R in Plan are allocated to the Agency. All taxes on the "fro " asse d valuation of the property are allocated to the City 6d other dis ts. The Agybavailta'ble 'power to levy and collect taxes, and any legislative property tax reducorrespondingly reduce the amount of tax revenues that would otherwito pay the principal of, and interest on, long-term debt. Broadened property tax exemptions could have a similar effect. Conversely, any increase in the tax rate or assessed valuation, or any reduction or elimination of present exemptions would necessarily increase the amount of tax revenues that would be available to pay principal and interest on long-term debt. 19 C. TUSTIN COMMUNITY REDEVELOPMENT AGENCY Notes to Financial Statements (Continued) June 30, 2005 Financial reporting is based upon all GASB pronouncements, as well as the FASB Statements and Interpretations, APB Opinions, and Accounting Research Bulletins that were issued on or before November 30, 1989 that do not conflict with or contradict GASB pronouncement. FASB pronouncements issued after November 30, 1989 are not followed in the preparation of the accompanying financial statements. Government -Wide and Fund Financial Statements The government -wide financial statements statement of changes in net assets) report i Agency. For the most part, the effect of these statements. Governmental acti and intergovernmental revenues, activities, which rely to a significant ext Tustin Community Redevelopment Agenc; e en of net assets and the ion o of the activities of the activity een removed from normally ported by taxes end chargeslor support. The business -type activities. The statement of activities de s the degrich the direct expenses of a given function are offset by o enues. ect expenses are those that are clearly identifiable with a ci rogram revenues include 1) charges to cust ho p se, or tly benefit from goods, services, or privileges , ovid a given tion an 2) grants and contributions that are restricted eting a operatio capital requirements of a particular function. Tax d ems not operly included among program revenues are rmnaladinste en es. e Agency's governmental funds are presented after statements. These statements display information lly and nonmajor funds in the aggregate for 1. Measurement Focus Measurement focus is a term used to describe "which" transactions are recorded within the various financial statements. Basis of accounting refers to "when" transactions are recorded regardless of the measurement focus applied. In the government -wide Statement of Net Assets and the Statement of Activities, activities are presented using the economic resources measurement focus. Under the economic resources measurement focus, all (both current and long-term) economic resources and obligations of the government are reported. 20 TUSTIN COMMUNITY REDEVELOPMENT AGENCY Notes to Financial Statements (Continued) June 30, 2005 In the fund financial statements, all governmental funds are accounted for on a spending or "financial flow" measurement focus. This means that only current assets and current liabilities are generally included on their balance sheets. Their reported fund balances (net current assets) are considered a measure of "available spendable resources". Governmental fund operating statements present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net curwnt assets. Accordingly, they are said to present a summary of sources f available spendable resources during a period. Noncurrent portions of long-term receiv 1 e re on the governmental fund balance sheets in spite of their ment fo However, special reporting treatments are used to ' care that they shou t- be considered "available spendable resources" ey of represent urrent assets. Recognition of governmental fund represent by noncurrent receivables are deferred until they bec current receivables. Noncurrent portions of other long- receivables set by fund balance reserve accounts. Revenues, exp lo se , , and liabilities resulting from nonexchange transa 'o cogniz in accordance with the requirements of GASB Stat t Because the ding in urement focus, expenditure recognition for gov fund es excludes is represented by noncurrent liabilities. Since they of net c assets, such long-term amounts are not as a expenditures or fund liabilities. Amounts xpe ac q pital assets are recorded as expenditures in the year that resources p er than as a fund asset. The proceeds of long-term ebt are rec as er financing sources rather than as a fund liability. Mk&punts pai o reduce long-term indebtedness are reported as fund When IlWestricted and unrestricted resources are combined in a fund, expense a considered to be paid first from restricted resources, and then from unrestricted resources. 2. Basis of Accounting In the government -wide Statement of Net Assets and Statement of Activities, the governmental activities are presented using the accrual basis of accounting. Under the accrual basis of accounting, revenues are recognized when earned and expenses are recorded when the liability is incurred or economic assets used, regardless of timing of related cash flows. Revenues, expenses, gains, losses, assets, and liabilities resulting from exchange and exchange -like transactions are recognized when the exchange takes place. 21 TUSTIN COMMUNITY REDEVELOPMENT AGENCY Notes to Financial Statements (Continued) June 30, 2005 In the fund financial statements, governmental funds are presented using the modified -accrual basis of accounting. Their revenues are recognized when they become measurable and available as net current assets. Measurable means that the amounts can be estimated, or otherwise determined. Available means that the amounts were collected during the reporting period or soon enough thereafter to be available to finance the expenditures accrued for the reporting period. Revenue recognition is subject to the mea the governmental funds in the fund transactions are recognized as revenues (i.e., the related goods or services are revenues are recognized as reve in imposed. If the period of use u ecif: when and enforceable legal claim received, whichever occurs first. nonexchange transactioa recognize eligibility requirements ha et. Investments are a forced o and availability criteria for Nreco Exchange ey are earned ed derived tax h they were as revenues hen they are Lent -mandated and voluntary revenues when all applicable at fair A Ne (the value at which a financial instrument a current ction between willing parties other than ale), ex t for certain investments which have a 10 year when purchased, which are stated at assets recorded at cost where historical records are available and at an ted ginal cost where no historical records exist. Contributed capital are valued at their estimated fair market value at the date of contribu n. Generally, capital asset purchases in excess of $5,000 are capitalized if they have an expected useful life of 1 year or more. The Agency does not own any infrastructure assets. Capital assets used in operations are depreciated over their estimated useful lives using the straight-line method in the Government -Wide Financial Statements. Depreciation is charged as an expense against operations and accumulated depreciation is reported on the respective balance sheet. The range of lives used for depreciation purposes of each capital asset class are: 22 TUSTIN COMMUNITY REDEVELOPMENT AGENCY Notes to Financial Statements (Continued) June 30,2005 Building 50 years Furniture, fixtures, and equipment 10 years Land Held for Resale: Land held for resale is carried at the lower of cost or estimated realizable value. Fund balances are reserved in amounts eq to the carrying value of land held for resale because such assets are ilable to finance the Agency's current operations. 3. Description of Funds The Agency reports the following Debt Service Funds are used to acc payments on the long -terra debt of the Capital Projects Funds are, project areas as well as the activities. and principal used in developing the i in sustaining Agency is used to account for the i Central Project Area. t Service Fund is used to account for tax of the Tustin Center Project Area. roject Area Debt Service Fund is used to account for tax and expenditures of the Marine Base Project Area. The SoWECentral Project Area Capital Projects F the fiscal activity of the South Central Project Area. is used to account for The South Central Low Income Housing Capital Projects Fund is used to account for the redevelopment requirement to set-aside 20% of available tax increment, and to use those funds only for the benefit of providing low and moderate income housing to residents of the South Central Project Area. The Town Center Project Area Capital Projects Fund is used to account for the fiscal activities of the Town Center Project Area. 23 TUSTIN COMMUNITY REDEVELOPMENT AGENCY Notes to Financial Statements (Continued) June 30, 2005 The Town Center Low Income Housing Capital Projects Fund is used to account for the redevelopment requirement to set-aside 20% of available tax increment, and to use those funds only for the benefit of providing low and moderate income housing to residents of the Town Center Project Area. The Marine Base Project Area Cavital Projects Fund is used to account for the fiscal activities of the Marine Base Project Area. H. Stewardship, Compliance and Accountability Budge atM Data The budgets of the Agency are primarily '1 -term budgets whi phasize capital outlay plans extending over one ye 'ecaus of the lop nature of redevelopment projects, "annual" budget co not coni red meaningful and, accordingly, no budgetary information is in the accompanying financial statements. III. Detailed Notes on All Funds 0 Cash and ' ents iWorted in theVc-pinpanying financial statements consisted of the followin $ 32,296,913 agent 1,677,305 $ 33,974,218 The Agencylands are pooled with the City of Tustin's cash and investments in order to generate optimum interest income. During the current fiscal year, the City implemented Statement No. 40, Deposits and Investment Risk Disclosures. This new pronouncement establishes and modifies disclosure requirements related to deposit and investment risks. The information required by GASB Statement No. 40 related to authorized investments, credit risk, etc. is available in the annual report of the City. 24 TUSTIN COMMUNITY REDEVELOPMENT AGENCY Notes to Financial Statements (Continued) June 30, 2005 B. Loans Receivable Commercial Loans: The Agency has commercial loans to small businesses for malting improvements. At June 30, 2005, the amount due to Agency under this program totaled $288,595. Home Improvement Loans: The Agency has provided a home improver income households. These loans are payable borrower sells their property, whichever ci balance as of June 30, 2005 was $300,266 Homebuyer Prouam Loans The Agency has provided down payment These loans are payable to th2 City in ten whichever comes first. The to dir C. Capital Assets The following is 2005: Id Capital in ToVfixht=,equlpnxnt nCapital asBuildingFurnitur, Total capital assets, being depreciated -,, :� --- - .,., Total capital assets, being depreciated, net to low and moderate r in ten years or when Che total outstanding salified first0Eime homebuyers. borrower sells their property, 'June 30, 2005 was $657,402. of th 1 as vity for the year ended June 30, BalanW Balance at IMM*Vr Additions Deletions June 30, 2005 1,300,000 $ 1,300,000 1,694,874 * $ 2,246,558 3,941,432 2,994,874 2,246,558 5,241,432 11,814,198 11,814,198 443,998 443,998 12,258,196 12,258,196 (2,869,322) (220,484) (3,089,806) 9,388,874 (220,484) 9,168,390 Govenurental Activities capital assets, net $ 12,383,748 $ 2,026,074 $ - $ 14,409,822 * Restated for inclusion of Construction in progress. See footnote G. 25 TUSTIN COMMUNITY REDEVELOPMENT AGENCY Notes to Financial Statements (Continued) June 30, 2005 D. Long -Term Liabilities The following is a summary of the long-term liability activity for the year ended June 30, 2005: Balance Balance Due Within July 1, 2004 Additions Deletions AJune30,2005 One Year Tax allocation bonds $ 13,910,000 $ - $ 92 $ 14,990,000 $ 960,000 Tax Allocation Bonds: On July 1; 1998, the Tustin Community, velop nt Agency issued $20,805,000 Tax Allocation Refun ' ds d the Agency's Town Center Area Redevelop m ro*ect Tax Allocation Refunding Bonds, S ' s 1987, in ag a principal amount of $5,145,000 and the 's Town Area Redevelopment Project Subordinate ation Bon a 'es 1991 in aggregate principalamour f 00. a net proceeds of $20,19 (after' p t o 2,424 in underwriting fees, and othe ssuance osts) plus an additional $805 of 1 Series s' g fund monies were used to purchase ve ent securitie Securi 'Nfro 91 were deposited in an irrev le trusa ent to provide for all future p when tio ds, Series 1987 and 1991, are called demre t, the 1987 Tax Allocation Bonds have bee oa long-termliabilities. As of June 30, 2005, the 1 nds have been fully redeemed. Serial bonds are yable in annual installments ranging from $775,000 commelfeing on December 1, 1998. Interest is payable semiannually on June I and December 1, with rates ranging from 3.5% to 5.0% per annum. The bonds maturing on or after December 1, 2009, are subject to redemption prior to maturity as a whole or in part, at the option of the Agency, on any date on or after December 1, 2008 at prices ranging from 100% to 101% of principal 14.990.000 26 TUSTIN COMMUNITY REDEVELOPMENT AGENCY Notes to Financial Statements (Continued) June 30, 2005 The annual requirements to amortize the tax allocation refunding bonds are as follows: E. F. Year Ending June 30, Principal Interest Total 2006 $ 960,000 $ 687,680 $ 1,647,680 2007 1,000,000 642,040 1,642,040 2008 1,055,000 ANIL 2009 1,105,000 ,652,365 2010 1,150,000 &594,1,649,358 ,647,180 2011-2015 6,600,000 ,198,736 2016-2017 3,120,000 271,769 Total $ 14,990 $ 4, ,128 $ 1 ,128 The California Health and aside 20 percent of their tax for low and m ' con 92, the Tus ' omm I from its 1 mode a -i Agency adopte uires r, evelopment agencies to set areas established before 1976 tw n fiscal years 1985-86 and 1991 - Agency deferred a total of $2,776,042 obligation. On February 1, 1993, the -it in subsequent years. \dfund 7bces cjec ea Capital Project Fund, the Town Center Project Fund, and Marine Base Project Area Capital Projects Fund of $384,403, $563,295, and $952,460, respectively, as of Agency's management intends to eliminate this deficit fund venues or by transferring funds from other Agency funds. 27 TUSTIN COMMUNITY REDEVELOPMENT AGENCY Notes to Financial Statements (Continued) June 30, 2005 G. Restatement of Beginning Net Assets The Agency added the Construction in progress holding at June 30, 2004 which were erroneously excluded from the capital asset footnote and government -wide financial statements. Beginning Net Assets, July 1, 2004 $ 21,481,390 Construction in Progress 1,694,874 Beginning Net Assets, July 1, 2004, as RestatF $ 23,176,264 Wi September 21, 2005 The Board of Directors of the Tustin Community Redevelopment Agency We have audited the financial statemen the aggregate remaining fund information a component unit of the City of Tustin, Cal r which collectively comps gency's b contents, and have is: our thereon audit in accordance audit standards America and the Standards, issuA ;mnmen es, each major fund, and gn Comin'FIly Redevelopment Agency, the year ended June 30, 2005, mcia tements, as listed in the table of September 21, 2005. We conducted our FAly accepted in the United States of udits contained in Government Auditing United States. In planningNopi audrt, we considered the Tustin Community Redevelopment Agency's ir financial reporting in order to determine our auditing procedures expressing our opinions on the basic financial statements and not to provithe internal control over financial reporting. Our consideration of the internfmancial reporting would not necessarily disclose all matters in the internal 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 29 Compliance and Other Matters As part of obtaining reasonable assurance about whether the basic financial statements of the Tustin Community Redevelopment 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 could 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 tlwse provisions was not an objective of our audit and, accordingly, we do not express sue inion. The results of our tests disclosed no instances of noncompliance or other ers that are required to be reported under Government Auditing Standards. This report is intended for the information of the B ))irectors agement of the Tustin Community Redevelopment Agency and State Controller' ce, Division of Accounting and Reporting and is not intende d sh ld not be use anyone other than these specified parties.Or 30 ATTACHMENT II CALIFORNIA DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT REDEVELOPMENT AGENCY ANNUAL HOUSING ACTIVITY REPORT FY ENDING: June ! 30 ! 2005 Agency Name and Address: Countv of Jurisdiction: Orange Health & Safety Code Section 33080.1 requires agencies to annually report on their Low & Moderate Income Housing Fund and housing activities for the Department of Housing and Community Development (HCD) to report on agencies' activities in accordance with Section 33080.6. Section 33080.3 specifies agencies must send this form, HCD Schedules, and an Audit report to the State Controller. Please answer each question below. Your answers determine which HCD SCHEDULES must be completed in order for the agency to fulfill the statutory requirement to report LMIHF housing activity and fund balances for the reporting period. I. Check one of the items below to identify the Agency's status at the end of the reporting period: ❑ New (Agency formation occurred during reporting year. No financial transactions were completed). ® Active (Financial and/or housing transactions occurred during the reporting year) ❑ Inactive (No financial and/or housing transactions occurred during the reporting year). ONLY COMPLETE ITEM 7 ❑ Dismantled (Agency adopted an ordinance to dissolve itself). ONLY COMPLETE ITEM 7 2. How many adopted project areas did the agency have during the reporting period? 3 How many project areas were merged during the reporting period? 0 If the agency has one or more adopted project areas. complete SCHEDULE HCD-A for each nroiect area. If the agency has no adopted project areas. DO NOT complete SCHEDULE HCD-A. 3. Within an area outside of any adopted redevelopment project area(s): (a) did the agency destroy or remove any dwelling units or displace any households over the reporting period, (b) does the agency intend to displace any households over the next reporting period, (c) did the agency permit the sale of any owner -occupied unit prior to the expiration of land use controls over the reporting period, and/or (d) did the agency execute a contract or agreement for the construction of any affordable units over the next two years? ❑ Yes (any question). Complete SCHEDULE HCD-B. 91 No (all questions). DO NOT complete SCHEDULE HCD-B. 4. Did the agency have any funds in the Low & Moderate Income Housing Fund during the reporting period? ® Yes. Complete SCHEDULE HCD-C. ❑ No. DO NOT complete SCHEDULE HCD-C. 5. During the reporting period, were housing units completed within a project area and/or assisted by the agency outside a nroiect area? ® Yes. Complete all applicable HCD SCHEDULES Dl -D7 for each housing project completed and HCD SCHEDULE E. ❑ No. DO NOT complete HCD SCHEDULES Dl -D7 or HCD SCHEDULE E. 6. Indicate whether HCD financial and housing activity information has been reported using method A and/or B checked below: ® A. Forms. All required HCD SCHEDULES A, B, C, Dl -D7, and E are attached. ❑ B. On-line (hup://www.hcd.ca.govlrdal) "Lock Report" date: . HCD SCHEDULES not required. (lock date is shown under "Admin"Area and "Report Change History') 7. To the best of my knowledge: (a) the representations made above and (b) agency information reported are correct. Date Signature of Authorized Agency Representative Redevelopment Program Manager Title (714) 573-3121 Telephone Number Signature of Authorized Agency Representative Finance Director Title (714) 573-3061 Telephone Number • IFNOTREQUIRED TO REPORT, SUBMIT ONLYA PAPER COPYOF THIS PAGE • IF REQUIRED TO REPORT, AND REPORTING BY USING PAPER COPYSCHEDULES. SUBMIT THISPAGE AND ALL APPLICABLE HCD FORMS (SCHEDULES A-E) • IFREPOR77NG ON-LINE, PROOF OFELECTRONIC REPORTING IS "CONFIRMATIONLETTER" UPON LOCKING REPORT • BOTH PAPER COPYREPORTINGAND ON-LINE REPORTING REQUIRE A COPYOF THE AUDIT REPORT BE SENT TO. THE STATE CONTROLLER Division of Accounting and Reporting Local Government Reporting Section 3301 C Street Suite 500 -Sacramento, CA 95816 Redevelopment Agency Annual Report - Fiscal Year 2004-2005 HCD-Cover Cover (7/1//05) Page I of I SCHEDULE HCD-A Inside Project Area Activity for Fiscal Year that Ended 6 / 30 / 2005 Tustin Community Agency Name: Redevelopment A¢ency Project Area Name: Town Center James Draughon Preparer'sName, Title: Program Manager Preparer's E -Mail Address: Jdraw hon g @tustinca.or B Preparer's Telephone No: (714) 573-3121 1. Project Area Information Preparer's Facsimile No: (714) 573-3113 GENERAL INFORMATION a. I. Year I" plan for project area was adopted: 1976 2. Year that plan was last amended (if applicable):_ 3. Was plan amended after 2001 to extend time limits per Senate Bill 211 (Chapter 741, Statutes of 2001)? Yes No 4. Current expiration of plan: 11 / 22 / 2018 mo day yr b. If project area name has changed, give previous name(s) or number: N/A c. Year(s) of any mergers of the project area: N Identify former project areas that d. Year(s) project area plan was amended involving real property that either: (1) Added property to plan: N/A (2) Removed property from plan: N/A 2. Affordable Housing Replacement and/or Inclusionary or Production Requirements (Section 33413). Pre -1976 oroiect areas not subsequently amended after 1975: Pursuant to Section 33413(d), only Section 33413(a) replacement requirements apply to dwelling units destroyed or removed after 1995. The Agency can choose to apply all or part of Section 33413 to a project area plan adopted before 1976. If the agency has elected to apply all or part of Section 33413, provide the date of the resolution and the applicable Section 33413 requirements addressed in the scope of the resolution. Date: _/_/_ Resolution Scope (applicable Section 33413 requirements): mo day yr Post -1975 oroiect areas and eeoeraphic areas added by amendment after 1975 to pre 1976 project areas: Both replacement and mclusionary or production requirements of Section 33413 apply. NOTE: Amounts to report on HCD-A lines 3a(lb 3b -3f, and 3i. can be taken from what is reported to the State Controller's Office (SCO) on the Statement of Income and Expenditures as part of the Redevelopment Agency's Financial Transactions Report, except for the reclassifying of Transfers -In from Internal Funds and the reporting of Other Sources as discussed below: Transfers -In from other internal funds: Report the amount of transferred funds on applicable HCD-A, lines 3a -j. For example, report the amount transferred from the Debt Service Fund to the Housing Fund for the deposit of the required set-aside percentage/amount by reporting gross tax increment on HCD-A, Line 3a(1) and report the Housing Fund's share of expenditures for debt service on HCD-C, Line 4c. Do not report "net" funds transferred from the Debt Service Fund on HCD-A Line 303) when reportine debt service expenditures on HCD-C. Line 4c. Other Sources: Non -GAAP (Generally Acceptable Accounting Principles) revenues such as from land sales for those agencies using the Land Held for Resale method to record land sales should be reported on HCD-A Line 3d. Housing fund receipts for the repayment of loan principal should be included on HCD-A Line 3h. California Redevelopment Agencies — Fiscal Year 20042005 HCD-A Sch A (7/1/05) rage 1 of 6 Tustin Agency Name: Community Redevelopment Agency Project Area Name: Town C Proiect Area Housing Fund Revenues and Other Sources 3. Report all revenues and other sources of funds from this project area which accrued to the Housing Fund over the reporting year. Any income related to agency -assisted housing located outside the project area(s) should be reported as "Other Revenue" on Line 3j. (of this Schedule A), if this project area is named as beneficiary in the authorizing resolution. Any other revenue sources not reported on lines 3a. -3i., should also be reported on Line 3j. Enter on Line 3a(1) the full 100% of gross Tax Increment allocated prior to applicable pass through of funds and deductions for fees (refer to Sections 33401, 33446, & 33676). Compute the required minimum percentage (%) of gross Tax Increment and enter the amount on Line 3a(2)(A) or 3a(2)(B). Next, report the amount of Tax Increment set-aside before any exemption and/or deferral (if amount set-aside is less than required minimum (a/o), explain the difference). If any amount of Tax Increment was exempted or deferred, in addition to completing lines 3a(41 and/or 3a(5). complete Line 4 and/or Line 5. To determine the amount of Tax Increment deposited to the Housing Fund [Line 3a(6)], subtract allowable amounts exempted [Line 3a(4)] or deferred [Line 3a(5)] from the actual amount allocated to the Housing Fund [Line 3a(3)]. a. Tax Increment: (1) 100% of Gross Allocation: $ 3,319,367 (2) Calculate only I set-aside amount: either A or below: (A) 20% required by 33334.2 (Line 3a(1)x20%): $ 663.873 (B) 30% required by 33333.10(g) (Line 3a(1) x 30%): $ (Senate Bill 211, Chapter 741, Statutes of2001) (3) Amount of set-aside (Line 3a(2)) allocated to Housing Fund $ 663,873 ' If, pursuant to Section 33334.3(1), less than the minimum % of Gross Tax Increment (see 3a(2) above) is being allocated from this project area, identify the project area(s) contributing the difference.. Explain any other reason(s): (4) Amount Exempted [Health & Safety Code Section 33334.2] (if there is an amount exempted, also complete question #4, next page): ($ ) (5) Amount Deferred [Health & Safety Code Section 33334.6] (if there is an amount deferred, also complete question #5, next page): ($ ) (6) Total deposit to the Housing Fund [result of Line 3a(3) through 3a(5)]: $ 663,873 b. Interest Income: $ 66,945 c. Rental/Lease Income (combine amounts separately reported to the SCO): $ 14,706 d. Sale of Real Estate: $ e. Grants (combine amounts separately reported to the SCO): $ f Bond Administrative Fees: $ g. Deferral Repayments (also complete Line 5c(2) on the next page): $ h. Loan Repayments: $ 45.489 i. Debt Proceeds: $ j. Other Revenue(s) [Explain and identify amount(s)]: Homeowner Prop. Tax Relief $ 2,423 ERAF Correction (02-03 03-04) $ 57,464 $ $ 59,887 k. Total Project Area Receipts Deposited to Housing Fund (add lines 3a(6). through 3j.): $ 850,900 California Redevelopment Agencies- Fiscal Year 2004-2005 HCD-A seh A (7/v05) Page 2 of 6., Tustin Agency Name: Community RedevelQpmpiar Agency Project Area Name: Town Center Exemotion(s) 4. a. If an exemption was claimed on Page 2, Line 3a(4) to deposit less than the required amount, complete the following information: Check only one of the health and Safety Code Sections below providing a basis for the exemption: ❑ Section 33334.2(a)(1): No need in community to increase/improve supply of lower or moderate income housing. ❑ Section 33334.2(a)(2): Less than the minimum set-aside % (20% or 30%) is sufficient to meet the need. ❑ Section 33334.2(a)(3): Community is making substantial effort equivalent in value to minimum set-aside % (20% or 30%) and has specific contractual obligations incurred before May 1, 1991 requiring continued use of this funding. Note: Pursuant to Section 33334.2(a)(3)(C), this exemption expired on June 30, 1993 but contracts entered into prior to May 1, 1991 may not be subject to the exemption sunset. ❑ Other: Specify code section and reason(s): b. For any exemption claimed on Page 2, Line 3a(4) and/or Line 4a above, identify: Date that initial -(I "llftntfing was adopted: _!_/_ Resolution # Date sent to HCD: mo day yr mo day yr Adoption date of revolting year finding: /_/_ Resolution # Date sent to HCD: / / mo day yr mo day yr Deferral(s) 5. a. Specify the authority for deferring any set-aside on Line ,3a(5). Check only one Health and Safety Code Section boxes: ❑ Section 33334.6(d): Applicable to project areas approved before 1986 in which the required resolution was sent to HCD before September 1986 regarding needing tax increment to meet existing obligations. Existing obligations can include those incurred after 1985, if net proceeds were used to refinance pre -1986 listed obligations. Note: The deferral previously authorized by Section 33334.6(e) expired. It was only allowable in each fiscal year prior to July 1, 1996 with certain restrictions. ❑ Other: Specify code Section and reason: b. For any deferral claimed on Page 2, Line 3a(5) and/or Line 5a above, identify: Date that initial la findin was adopted: _/_/_ Resolution # _ mo day yr Adoption date of reporting year finding: / / Resolution # mo day yr Date sent to HCD: mo day yr Date sent to HCD: mo day yr c. A deferred set-aside pursuant to Section 33334.6(d) constitutes indebtedness to the Housing Fund. Summarize the amount(s) of set-aside deferred over the reporting year and cumulatively as of the end of the reporting year: * The cumulative amount ofdeferred set-aside should also be shown on HCD-C. Line 8a. If the prior FY cumulative deferral shown above differs from what was reported on the last HCD report (HCD-A and HCD-C), indicate the amount of difference and the reason: Difference: $ 0 Reason(s): California Redevelopment Agencies — Fiscal Year 2004-2005 HCD-A Sch A (7/1/05) Page 3 of 6 Amount of Prior Cumulative Amount Amount Deferred Deferrals Raid Deferred (Net of Any Fiscal Year This Reporting FY During Reporting FY Amount(s) Repaid) (1) Last Reporting FY $ 2,776,042 (2) This Reporting FY $ 0 $ 0 $ * 2, 776,042 * The cumulative amount ofdeferred set-aside should also be shown on HCD-C. Line 8a. If the prior FY cumulative deferral shown above differs from what was reported on the last HCD report (HCD-A and HCD-C), indicate the amount of difference and the reason: Difference: $ 0 Reason(s): California Redevelopment Agencies — Fiscal Year 2004-2005 HCD-A Sch A (7/1/05) Page 3 of 6 Tustin Agency Name: Community Redevelopment Agency Project Area Name: _ Town Center Deferral(s) (continued) 5. d. Section 33334.6(g) requires any agency which defers set -asides to adopt a plan to eliminate the deficit in subsequent years. If this agency has deferred set -asides, has it adopted such a plan? Yes © No ❑ If yes, by what date is the deficit to be eliminated? If yes, when was the original plan adopted for the claimed deferral? Identify Resolution # Date Resolution sent to HCD When was the last amended plan adopted for the claimed deferral? Identify Resolution # RDA 00-4 Date Resolution sent to HCD 6 /'30/ 2023 mo day yr 2 /01 / 1993 mo day yr Households Permanently Displaced - Non Elderly 0 0 Too day yr 5 / 01 / 2000 mo day yr mo day yr Actual Project Area Households Displaced and Units and Bedrooms Lost Over Reoortine Year: 6. a. Redevelopment Proiect Activity. Pursuant to Sections 33080.4(a)(1) and (a)(3), report by income category the number of elderly and nonelderly households permanently displaced and the number of units and bedrooms removed or destroyed, over the reporting Year. (refer to Section 33413 for unit and bedroom replacement requirements). Number of Households/Unitc/Redrnoms Project Activity VL L M AM Total Households Permanently Displaced - Elderly 0 0 0 0 0 Households Permanently Displaced - Non Elderly 0 0 0 0 0 Households Permanently Displaced -Total 0 0 0 0 0 Units Lost (Removed or Destroyed) and Required to be Replaced 0 0 0 0 Bedrooms Lost (Removed or Destroyed) and Required to be Replaced 0 0 0 0 Above Moderate Units Lost That Agency is Not Required to Replace 0 0 Above Moderate Bedrooms Lost That Agency is Not Required to Replace 0 0 b. Other Activitv. Pursuant to Sections 33080.4(a)(1) and (a)(3) based on activities other than the destruction or removal of dwelling units and bedrooms reported on Line 6a, report by income category the number of elderly and nonelderly households permanently displaced over the reporting year: Number of Households Other Activity VL L M AM Total Households Permanently Displaced - Elderly 0 0 0 0 0 Households Permanently Displaced - Non Elderly 0 0 0 0 0 Households Permanently Displaced - Total 0 0 0 0 0 c. As required in Section 33413.5, identify, over the reporting year, each replacement housing plan required to be adopted before the permanent displacement, destruction, and/or removal of dwelling units and bedrooms impacting the households reported on lines 6a. and 6b. Date Too day yr Date _ mo day yr Name of Agency Custodian Name of Agency Custodian Please attach a separate sheet of paper listing any additional housing plans adopted. California Redevelopment Agencies— Fiscal Year 2004-2005 HCD-A Sch A (7A/05) Page 4 of 6 Tustin Agency Name: Community Redevelopment Agency Project Area Name: Town Center Estimated Project Area Households to be Permanently Displaced Over Current Fiscal Year: 7. a. As required in Section 33080.4(a)(2) for a redevelopment project of the agency, estimate, over the current fiscal vear, the number of elderly and nonelderly households, by income category, expected to be permanently displaced. (Note: actual displacements will be reported for the next reporting year on Line 6). Number of Households Project Activity VL L M AM Total Households Permanently Displaced - Elderly 0 0 0 0 0 Households Permanently Displaced - Non Elderly 2 2 5 0 9 Households Permanently Displaced - Total 2 2 5 0 9 b. As required in Section 33413.5, for the current fiscal year, identify each replacement housing plan required to be adopted before the permanent displacement, destruction, and/or removal of dwelling units and bedrooms impacting the households reported in 7a. Date 8 / 04/ 2003 mo day yr Date mo day yr Name of Agency Custodian Name of Agency Custodian James Draughon Please attach a separate sheet of paper listing any additional housing plans adopted. Units Developed Inside the Project Area to Fulfill Requirements of Other Proiect Area(s1 8. Pursuant to Section 33413(b)(2)(A)(v), agencies may choose one or more project areas to fulfill another project area's requirement to construct new or substantially rehabilitate dwelling units, provided the agency conducts a public hearing and finds, based on substantial evidence, that the aggregation of dwelling units in one or more project areas will not cause or exacerbate racial, ethnic, or economic segregation. Were any dwelling units in this project area developed to partially or completely satisfy another project area's requirement to construct new or substantially rehabilitate dwelling units? ® No. ❑ Yes. Date initial finding was adopted? _/_/_ Resolution # Date sent to HCD:_/_/_ mo day yr mo day yr Number of Dwe ling Units Name of Other Project Area(s) VL L M Total California Redevelopment Agencies — Fiscal Year 2004-2005 HCD-A Soh A (7l1/05) Page 5 of 6 Tustin Agency Name: Community Redevelopment Agency Project Area Name: Town Center Sales of Owner -Occupied Units Inside the Proiect Area Prior to the Exoirafion 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 sale of owner -occupied units prior to the expiration of the period of the land use controls established by the agency. Agencies must deposit sale proceeds into the Low and Moderate Income Housing Fund and within three (3) years from the date the unit was sold, expend funds to make another unit equal in affordability, at the same income level, to the unit sold. a. Sales. Did the agency permit the sale of any owner -occupied units during the reporting year? ®No ❑Yes 9 Equal Units. ®No ❑Yes Were reporting year funds spent to make units equal in affordability to units sold over the last three reporting years? <— Total Proceeds From Sales Over Reporting Year Number of Units SALES VL I L I M ITotal Units Sold Over Reporting Year Project and/or Execution Completion Date Equal Units. ®No ❑Yes Were reporting year funds spent to make units equal in affordability to units sold over the last three reporting years? Affordable Units to be Constructed Inside the Project Area Within Two Years 10. Pursuant to Section 33080.4(a)(10), report the number of very low, low, and moderate income units to be financed by any federal, state, local, or private source in order for construction to be completed within two Years from the date of the asreement or contract executed over the reporting year. Identify the project and/or contractor, date of the executed agreement or contract, and estimated completion date. Specify the amount reported as an encumbrance on HCD-C, Line 6a. and/or any applicable amount designated on HCD-C, Line 7a. such as for capital outlay or budgeted funds intended to be encumbered for project use within two years from the reporting year's agreement or contract date. - DO NOT REPORT ANY UNITS ON THIS SCHEDULE A THAT ARE REPORTED ON OTHER HCD-As. B. OR ns Col A f-- Total LMIHF Spent On Equal Units Over Number of Units Reporting Year SALES VL L M Total Units Made Equal This Reporting Yr to Units Sold Over This Reporting Yr Units Made Equal This Reporting Yr to Units Sold One Reporting Yr Ago Units Made Equal This Reporting Yr to Units Sold Two Reporting Yrs Ago Units Made Equal This Reporting Yr to Units Sold Three Reporting Yrs Ago Affordable Units to be Constructed Inside the Project Area Within Two Years 10. Pursuant to Section 33080.4(a)(10), report the number of very low, low, and moderate income units to be financed by any federal, state, local, or private source in order for construction to be completed within two Years from the date of the asreement or contract executed over the reporting year. Identify the project and/or contractor, date of the executed agreement or contract, and estimated completion date. Specify the amount reported as an encumbrance on HCD-C, Line 6a. and/or any applicable amount designated on HCD-C, Line 7a. such as for capital outlay or budgeted funds intended to be encumbered for project use within two years from the reporting year's agreement or contract date. - DO NOT REPORT ANY UNITS ON THIS SCHEDULE A THAT ARE REPORTED ON OTHER HCD-As. B. OR ns Col A Col B Col C Col D Col E Name of Agreement Estimated Sch C Amount Sch C Amount Project and/or Execution Completion Date Encumbered Designated Contractor Date_(w/Fin 2yrs; of Col B Line 6a Line 7a VL L M Total $ $ Please attach a separate sheet of paper to list additional information. California Redevelopment Agencies - Fiscal Year 2004-2005 HCD-A Sch A (7n/05) Page 6 of 6 SCHEDULE HCD-A Inside Project Area Activity for Fiscal Year that Ended 6 / 30/ 2005 Tustin Community Agency Name: Redevelopment Agency Project Area Name: South Central James Draughon Preparer's Name, Title: Program Manager Preparer'sE-Mail Address: jdraughon@tustinca.org Preparer's Telephone No: (714) 573-3121 1. Project Area Information Preparer'sFacsimile No: _(714) 573-3113 GENERAL INFORMATION a. 1. Year I" plan for project area was adopted: 1983 2. Year that plan was last amended (if applicable): 1999 3. Was plan amended after 2001 to extend time limits per Senate Bill 211 (Chapter 741, Statutes of 2001)? Yes X No 4. Current expiration of plan: __7_/_Q.5J 2017 mo day yr b. If project area name has changed, give previous name(s) or number: N/A c. Year(s) of any mergers of the project area: N/ Identify former project areas that merged: N/A d. Year(s) project area plan was amended involving real property that either: (1) Added property to plan: N (2) Removed property from plan: N 2. Affordable Housing Replacement and/or Inclusionary or Production Requirernents (Section 33413). Pre -1976 nroject areas not subsequently amended after 1975: Pursuant to Section 33413(d), only Section 33413(a) replacement requirements apply to dwelling units destroyed or removed after 1995. The Agency can choose to apply all or part of Section 33413 to a project area plan adopted before 1976. If the agency has elected to apply all or part of Section 33413, provide the date of the resolution and the applicable Section 33413 requirements addressed in the scope of the resolution. Date: / / Resolution Scope (applicable Section 33413 mo day yr Post -1975 project areas and geographic areas added by amendment after 1975 to pre -1976 oroiect areas: Both replacement and inclusionary or production requirements of Section 33413 apply. NOTE: Amounts to report on HCD-A lines 3a(1), 3b -3f, and 3i. can be taken from what is reported to the State Controller's Office (SCO) on the Statement of Income and Expenditures as part of the Redevelopment Agency's Financial Transactions Report, except for the reclassifying of Transfers -In from Internal Funds and the reporting of Other Sources as discussed below: Transfers -In from other internal funds: Report the amount of transferred funds on applicable HCD-A, lines 3a -j. For example, report the amount transferred from the Debt Service Fund to the Housing Fund for the deposit of the required set-aside percentage/amount by reporting gross tax increment on HCD-A, Line 3a(1) and report the Housing Fund's share of expenditures for debt service on HCD-C, Line 4c. Do not report "net" funds transferred from the Debt Service Fund on HCD A Line 3a(3) when reporting debt service expenditures on HCD-C. Line 4e. Other Sources: Non -GAAP (Generally Acceptable Accounting Principles) revenues such as from land sales for those agencies using the Land Held for Resale method to record land sales should be reported on HCD-A Line 3d. Housing fund receipts for the repayment of loan principal should be included on HCD-A Line 3h. California Redevelopment Agencies — Fiscal Year 2004-2005 HCD-A Sch A (7/1/05) Page 1 of 6 Agency Name: Tustin Community Redevelopment Agency Project Area Name: South Central Proiect Area Housine Fund Revenues and Other Sources 3. Report all revenues and other sources of funds from this project area which accrued to the Housing Fund over the reporting year. Any income related to agency -assisted housing located outside the project area(s) should be reported as "Other Revenue" on Line 3j. (of this Schedule A), if this project area is named as beneficiary in the authorizing resolution. Anv other revenue sources not reported on lines 3a. 3i., should also be reported on Line 3j. Enter on Line 3a(1) the full 100% of gross Tax Increment allocated prior to applicable pass through of funds and deductions for fees (refer to Sections 33401, 33446, & 33676). Compute the required minimum percentage (%) of gross Tax Increment and enter the amount on Line 3a(2)(A) or 3a(2)(B). Next, report the amount of Tax Increment set-aside before any exemption and/or deferral (if amount set-aside is less than required minimum M) explain the difference). If any amount of Tax Increment was exempted or deferred, in addition to completing lines 3a(4) and/or 3a(5) complete Line 4 and/or Line 5. To determine the amount of Tax Increment deposited to the Housing Fund [Line 3a(6)], subtract allowable amounts exempted [Line 3a(4)] or deferred [Line 3a(5)] from the actual amount allocated to the Housing Fund [Line 3a(3)]. a. Tax Increment: (1) 100% of Gross Allocation: $ 3,267,405 (2) Calculate only 1 set-aside amount: either A or B below: (A) 20% required by 33334.2 (Line 3a(1) x 20%): $ 653,48 (B) 30% required by 33333.10(g) (Line 3a(1) x 30%): $ (Senate Bill 211, Chapter 741, Statutes of 200 1) (3) Amount of set-aside (Line 3a(2)) allocated to Housing Fund $ 653,481 ' If, pursuant to Section 33334.3(1), less than the minimum % of Gross Tax Increment (see 3a(2) above) is being allocated from this project area, identify the project area(s) contributing the difference. Explain any other reason(s): (4) Amount Exempted [Health & Safety Code Section 33334.21 (if there is an amount exempted, also complete question #4, next page): ($ ) (5) Amount Deferred [Health & Safety Code Section 33334.6] (if there is an amount deferred, also complete question #5, next page): ($ ) (6) Total deposit to the Housing Fund [result of Line 3a(3) through 3a(5)1: $ 653,481 b. Interest Income: $ 196,667 c. Rental/Lease Income (combine amounts separately reported to the SCO): $ 77,668 d. Sale of Real Estate: $ e. Grants (combine amounts separately reported to the SCO): $ f. Bond Administrative Fees: $ g. Deferral Repayments (also complete Line 5c(2) on the next page): $ It. Loan Repayments: $ 73,551 i. Debt Proceeds: $ j. Other Revenue(s) [Explain and identify amount(s)]: Homeowner Prop. Tax Relief $ 2,983 ERAF Correction $ 62,688 $ $ 65,671 k. Total Project Area Receipts Deposited to Housing Fund (add lines 3a(6). through 3j.): $ 1,067,038 California Redevelopment Agencies — Fiscal Year 2004-2005 HCD-A sch A (7nt05) Page 2 of 6 Tustin Agency Name: Community Redevelopment Agency Project Area Name: South Central Exemntionts) 4. a. If an exemption was claimed on Page 2, Line 3a(4) to deposit less than the required amount, complete the following information: Check onlv one of the Health and Safety Code Sections below providing a basis for the exemption: ❑ Section 333342(a)(1): No need in community to increase/improve supply of lower or moderate income housing. ❑ Section 33334.2(a)(2): Less than the minimum set-aside % (20% or 30%) is sufficient to meet the need. ❑ Section 33334.2(a)(3): Community is making substantial effort equivalent in value to minimum set-aside % (20% or 30%) and has specific contractual obligations incurred before May 1, 1991 requiring continued use of this funding. Note: Pursuant to Section 33334.2(a)(3)(C), this exemption expired on June 30, 1993 but contracts entered into prior to May 1, 1991 may not be subject to the exemption sunset. ❑ Other: Specify code section and reason(s) b. For any exemption claimed on Page 2, Line 3a(4)and/or Line 4a above, identify: Date that initial la finding was adopted: _/_/ Resolution # Date sent to HCD: mo day yr mo day yr Adoption date of reporting Year findin: _/ /_ Resolution # Date sent to HCD: mo day yr mo day yr Deferral(s) 5. a. Specify the authority for deferring any set-aside on Line 3a(5). Check only one Health and Safety Code Section boxes: ❑ Section 33334.6(d): Applicable to project areas approved before 1986 in which the required resolution was sent to HCD before September 1986 regarding needing tax increment to meet existing obligations. Existing obligations can include those incurred after 1985, if net proceeds were used to refinance pre -1986 listed obligations. Note: The deferral previously authorized by Section 33334.6(e) expired. It was only allowable in each fiscal year prior to July 1, 1996 with certain restrictions. ❑ Other: Specify code Section and reason: b. For any deferral claimed on Page 2, Line 3a(5) and/or Line 5a above, identify: Date that initial In findin was adopted: _/ /_ Resolution # _ mo day yr Adoption date of renortine year findin: /_/ Resolution # mo day yr Date sent to HCD: /_/_ mo day yr Date sent to HCD: _/_/_ mo day yr c. A deferred set-aside pursuant to Section 33334.6(d) constitutes indebtedness to the Housing Fund. Summarize the amount(s) of set-aside deferred over the reporting year and cumulatively as of the end of the reporting year: * The cumulative amount ofdeferred set-aside should also be shown on HCD-C, Line 8a. If the prior FY cumulative deferral shown above differs from what was reported on the last HCD report (HCD-A and HCD-C), indicate the amount of difference and the reason: Difference: $ Reason(s): California Redevelopment Agencies — Fiscal Year 2004-2005 HCD-A sch A (7/l/05) - Page 3 of 6 Amount of Prior Cumulative Amount Amount Deferred Deferrals Repaid Deferred (Net of Any Fiscal Year This Reporting FY During Reporting FY Amount(s) Repaid) (1) Last Reporting FY EE! !0! $ 0 (2) This Reporting FY $ 0 $ * 0 ' * The cumulative amount ofdeferred set-aside should also be shown on HCD-C, Line 8a. If the prior FY cumulative deferral shown above differs from what was reported on the last HCD report (HCD-A and HCD-C), indicate the amount of difference and the reason: Difference: $ Reason(s): California Redevelopment Agencies — Fiscal Year 2004-2005 HCD-A sch A (7/l/05) - Page 3 of 6 Tustin Agency Name: Community Redevelopment Agency Project Area Name: South Central Deferrals (continued) 5. d. Section 33334.6(g) requires any agency which defers set -asides to adopt a pian to eliminate the deficit in subsequent years. If this agency has deferred set -asides, has it adopted such a pian'? Yes [:1 No If yes, by what date is the deficit to be eliminated? If yes, when was the original plan adopted for the claimed deferral? Identify Resolution # Date Resolution sent to HCD When was the last amended plan adopted for the claimed deferral? Identify Resolution # Date Resolution sent to HCD Actual Proiect Area Households Displaced and Units and Bedrooms Lost Over Reporting Year: 6. a. Redevelopment Proiect Activity. Pursuant to Sections 33080.4(a)(1) and (a)(3), report by income category the number of elderly and nonelderly households permanently displaced and the number of units and bedrooms removed or destroyed, over the reporting year, (refer to Section 33413 for unit and bedroom replacement requirements). Number of Hnucehnldc/rinifc/Rrdrnn..,c Project Activity VL L Too day yr Households Permanently Displaced - Elderly 0 0 mo day yr Households Permanently Displaced - Non Elderly 0 0 mo day yr Households Permanently Displaced -Total 0 0 mo day yr Units Lost (Removed or Destroyed) and Required to be Replaced - 0 0 mo day yr Actual Proiect Area Households Displaced and Units and Bedrooms Lost Over Reporting Year: 6. a. Redevelopment Proiect Activity. Pursuant to Sections 33080.4(a)(1) and (a)(3), report by income category the number of elderly and nonelderly households permanently displaced and the number of units and bedrooms removed or destroyed, over the reporting year, (refer to Section 33413 for unit and bedroom replacement requirements). Number of Hnucehnldc/rinifc/Rrdrnn..,c Project Activity VL L M AM Total Households Permanently Displaced - Elderly 0 0 0 0 0 Households Permanently Displaced - Non Elderly 0 0 0 0 0 Households Permanently Displaced -Total 0 0 0 0 0 Units Lost (Removed or Destroyed) and Required to be Replaced - 0 0 0 0 Bedrooms Lost (Removed or Destroyed) and Required to be Replaced 0 0 0 0 Above Moderate Units Lost That Agency is Not Required to Replace 0 0 Above Moderate Bedrooms Lost That Agency is Not Required to Replace 0 0 b. Other Activity. Pursuant to Sections 33080.4(a)(1) and (a)(3) based on activities other than the destruction or removal of dwelling units and bedrooms reported on Line 6a. report by income category the number of elderly and nonelderly households pemnanently displaced over the reporting year: Number of Hnncehnldc ___-_-______-_ Other Activity VL I L I M AM Total Households Permanently Displaced - Elderly 0 0 0 0 Households Permanently Displaced - Non Elderly 0 Households Permanently Displaced - Total 0 0 0 0 0 c. As required in Section 33413.5, identify, over the reporting year, each replacement housing plan required to be adopted before the permanent displacement, destruction, and/or removal of dwelling units and bedrooms impacting the households reported on lines 6a, and 6b. Date _/_/ Name of Agency Custodian mo day yr Date _/ Name of Agency Custodian mo day yr Please attach a separate sheet of paper listing any additional housing plans adopted. California Redevelopment Agencies - Fiscal Year 2004-2005 HCD-A sch A (7ni05) Page 4 of 6 Tustin Agency Name: Community Redevelopment Agency Project Area Name: South Central Estimated. Protect Area Households to be Permanently Displaced Over Current Fiscal Year: 7. a. As required in Section 33080.4(a)(2) for a redevelopment project of the agency, estimate. over the current fiscal year, the number of elderly and nonelderly households, by income category, expected to be permanently displaced. (Note: actual displacements will be reported for the next reporting year on Line 6). Number of Households Project Activity VL L M AM I Total Households Permanently Displaced - Elderly 0 0 0 0 0 Households Permanently Displaced - Non Elderly 0 0 0 0 Households Permanently Displaced - Total 0 0 0 00 b. As required in Section 33413.5, for the current fiscal year, identify each replacement housing plan required to be adopted before the permanent displacement, destruction, and/or removal of dwelling units and bedrooms impacting the households reported in 7a. Date _/_/_ mo day yr Date mo day yr Name of Agency Custodian Name of Agency Custodian Please attach a separate sheet of paper listing any additional housing plans adopted. Units Developed Inside the Project Area to Fulfill Reduirements of Other Project Area(s) 8. Pursuant to Section 33413(b)(2)(A)(v), agencies may choose one or more project areas to fulfill another project area's requirement to construct new or substantially rehabilitate dwelling units, provided the agency conducts a public hearing and finds, based on substantial evidence, that the aggregation of dwelling units in one or more project areas will not cause or exacerbate racial, ethnic, or economic segregation. Were any dwelling units in this project area developed to partially or completely satisfy another project area's requirement to construct new or substantially rehabilitate dwelling units? Q No. ❑ Yes. Date initial finding was adopted? _/_/_ Resolution # Date sent to HCD:_t / mo day yr _ mo day yr Number of Dwellin Califomia Redevelopment Agencies — Fiscal Year 2004-2005 HCD-A Sch A (7n/05) Page 5 of 6 Tustin Agency Name: Community Redevelopment Agency Project Area Name: South Central Sales of Owner -Occupied Units Inside the Proiect Area Prior to the Expiration of Land Use Controls 9. Section 33413(c)(2)(A) specifies that pursuant to an adopted program, which includes but is not limited to an equity sharing program, agencies may permit the sale of owner -occupied units prior to the expiration of the period of the land use controls established by the agency. Agencies must deposit sale proceeds into the Low and Moderate Income Housing Fund and within three (3) years from the date the unit was sold, expend funds to make another unit equal in affordability, at the same income level, to the unit sold. a. Sales. ®No ❑Ye: ri Did the agency permit the sale of any owner -occupied units during the reporting year? Equal Units. ®No ❑Yes Total Proceeds From Sales Over Reportinit Year I Number of Units Were reporting year funds spent to make units equal in affordability to units sold over the last three reporting years? $ F- Total LMIHF Spent On Equal Units Over Number of Units Reporting Year SALES VL L M Total Units Made Equal This Reporting Yr to Units Sold Over This Reporting Yr Units Made Equal This Reporting Yrto Units Sold One Reporting Yr Ago Units Made Equal This Reporting Yr to Units Sold Two Reporting Yrs Ago Units Made Equal This Reporting Yr to Units Sold Three Reporting Yrs Ago Affordable Units to be Constructed Inside the Proiect Area Within Two Years 10. Pursuant to Section 33080.4(a)(10), report the number of very low, low, and moderate income units to be financed by any federal, state, local, or private source in order for construction to be completed within two years from the date of the agreement or contract executed over the reporting Year. Identify the project and/or contractor, date of the executed agreement or contract, and estimated completion date. Specify the amount reported as an encumbrance on HCD-C, Line 6a. and/or any applicable amount designated on HCD-C, Line 7a. such as for capital outlay or budgeted funds intended to be encumbered for project use within two years from the reporting year's agreement or contract date. - DO NOT REPORT ANY UNITS ON THIS SCHEDULE A THAT ARE REPORTED ON OTHER HCD-As B OR Ds Col A Col B Col C Col D Col E Name of Agreement Estimated Sch C Amount Sch C Amount Project and/or Execution Completion Date Encumbered Designated Contractor Date(w/in 2 yrs of Col B Line 6a Line 7al VL L M Total S S S S S S Please attach a separate sheet of paper to list additional infomtation. California Redevelopment Agencies — Fiscal Year 2004-2005 HCD-A Sch A (7/l/05) Page 6 of 6 SCHEDULE HCD-A Inside Project Area Activity for Fiscal Year that Ended 6 /30 / 2005 Tustin Agency Name: Communit Redevelo ment A enc,grojectAreaName: MCAS Tustin aures rang on Preparer's Name, Title: Program Manager PreparersE-Mail Address: jdraughon@tustinca.org Preparer's Telephone No: (714) 573-3121 Preparer's Facsimile No: (714) 573-3113 GENERAL INFORMATION 1. Project Area Information a. 1. Year I' plan for project area was adopted: 2003 2. Year that plan was last amended (if applicable):_ 3. Was plan amended after 2001 to extend time limits per Senate Bill 211 (Chapter 741, Statutes of 2001)? Yes_ No 4. Current expiration of plan: 7—/ 02 / 2033 mo day yr b. If project area name has changed, give previous name(s) or number: N/A a Year(s) of any mergers of the project area: N/Q Identify former project areas that merged: N/A d. Year(s) project area plan was amended involving real property that either: (1) Added property to plan: N/A (2) Removed property from plan: 2. Affordable Housing Replacement and/or Inclusionary or Production Requirements (Section 33413). Pre -1976 nroiect areas not subseouently amended after 1975: Pursuant to Section 33413(d), only Section 33413(a) replacement requirements apply to dwelling units destroyed or removed after 1995. The Agency can choose to apply all or part of Section 33413 to a project area plan adopted before 1976. If the agency has elected to apply all or part of Section 33413, provide the date of the resolution and the applicable Section 33413 requirements addressed in the scope of the resolution. Date: _/_/ Resolution Scope (applicable Section 33413 requirements): mo day yr Post -1975 project areas and geographic areas added by amendment after 1975 to ore1976 project areas: Both replacement and inclusionary or production requirements of Section 33413 apply. NOTE: Amounts to report on HCD-A lines 3a(1), 3b -3f, and 3i. can be taken from what is reported to the State Controller's Office (SCO) on the Statement of Income and Expenditures as part of the Redevelopment Agency's Financial Transactions Report, except for the reclassifying of Transfers -In from Internal Funds and the reporting of Other Sources as discussed below: Transfers -In from other internal funds: Report the amount of transferred funds on applicable HCD-A, lines 3a -j. For example, report the amount transferred from the Debt Service Fund to the Housing Fund for the deposit of the required set-aside percentage/amount by reporting gross tax increment on HCD-A, Line 3a(1) and report the Housing Fund's share of expenditures for debt service on HCD-C, Line 4c. Do not t report "net" funds transferred from the Debt Service Fund on HCD-A Line 3a(3) when revortin2 debt service expenditures on HCD-C. Line 4e. Other Sources: Non -GAAP (Generally Acceptable Accounting Principles) revenues such as from land sales for those agencies using the Land Held for Resale method to record land sales should be reported on HCD-A Line 3d. Housing fund receipts for the repayment of loan principal should be included on HCD-A Line 3h. California Redevelopment Agencies — Fiscal Year 2004-2005 HCD-A Sch A (7/l/05) Page 1 of 6 Agency Name: Tustin Community Redevelopment Agency Project Area Name: MCAS Tustin Proiect Area Housing Fund Revenues and Other Sources 3. Report all revenues and other sources of funds from this project area which accrued to the Housing Fund over the reporting year. Any income related to agency -assisted housing located outside the project area(s) should be reported as "Other Revenue" on Line 3j. (of this Schedule A), if this project area is named as beneficiary in the authorizing resolution. Any other revenue sources not reported on lines 3a. -3i, should also be reported on Line 3j. Enter on Line 3a(1) the full 100% of gross Tax Increment allocated prior to applicable pass through of funds and deductions for fees (refer to Sections 33401, 33446, & 33676). Compute the required minimum percentage (%) of gross Tax Increment and enter the amount on Line 3a(2)(A) or 3a(2)(B). Next, report the amount of Tax Increment set-aside before any exemption and/or deferral (if amount set-aside is less than required minimum (%, explain the difference). If any amount of Tax Increment was exempted or deferred, in addition to completing lines 3a(4) and/or 3a(5)complete Line 4 and/or Line 5. To determine the amount of Tax Increment deposited to the Housing Fund [Line 3a(6)], subtract allowable amounts exempted [Line 3a(4)] or deferred [Line 3a(5)] from the actual amount allocated to the Housing Fund [Line 3a(3)]. a. Tax Increment: (1) 100% of Gross Allocation: $_4,027,714 (2) Calculate only 1 set-aside amount: either A or B below: (A) 20% required by 33334.2 (Line 3a(1) x 20%): $ 805,543 (B) 30% required by 33333.10(g) (Line 3a(1) x 30%): $ (Senate Bill 211, Chapter 741, Statutes of 200 1) (3) Amount of set-aside (Line 3a(2)) allocated to Housing Fund $ 805,543 * If, pursuant to Section 33334.3(1), less than the minimum % of Gross Tax Increment (see 3a(2) above) is being allocated from this project area, identify the project area(s) contributing the difference. Explain any other reason(s): (4) Amount Exempted [Health & Safety Code Section 33334.21 (if there is an amount exempted, also complete question #4, next page): (5) Amount Deferred [Health & Safety Code Section 33334.6] (if there is an amount deferred, also complete question #5, next page): (6) Total deposit to the Housing Fund [result of Line 3a(3) through 3a(5)]: b. Interest Income: c. Rental/Lease Income (combine amounts separately reported to the SCO): d. Sale of Real Estate: e. Grants (combine amounts separately reported to the SCO): f Bond Administrative Fees: g. Deferral Repayments (also complete Line 5c(2) on the next page): It. Loan Repayments: i. Debt Proceeds: j. Other Revenue(s) [Explain and identify amount(s)]: ($ 1 ($ 1 $ 805,543 k. Total Project Area Receipts Deposited to Housing Fund (add fines 3a(6). through 3j.): $ 805,543 California Redevelopment Agencies — Fiscal Year 2004-2005 HCD-A son A (7/1105) Page 2 of 6 Tustin Agency Name: Community Redevelopment Agency Project Area Name: MCAS Tustin Exemption(s) 4. a. If an exemption was claimed on Page 2, Line 3a(4) to deposit less than the required amount, complete the following information: Check onlv one of the Health and Safety Code Sections below providing a basis for the exemption: ❑ Section 33334.2(a)(1): No need in community to increase/improve supply of lower or moderate income housing. ❑ Section 33334.2(a)(2): Less than the minimum set-aside % (20% or 30%) is sufficient to meet the need. ❑ Section 33334.2(a)(3): Community is making substantial effort equivalent in value to minimum set-aside % (20% or 30%) and has specific contractual obligations incurred before May 1, 1991 requiring continued use of this funding, Note: Pursuant to Section 33334.2(a)(3)(C), this exemption expired on June 30, 1993 but contracts entered into prior to May 1, 1991 may not be subject to the exemption sunset. ❑ Other: Specify code section and reason(s) b. For any exemption claimed on Page 2, Line 3a(4) and/or Line 4a above, identify: Date that initial 1 findin was adopted: _/_/ Resolution # Date sent to HCD: mo day yr mo day yr Adoption date of reporting year finding: /_/_ Resolution # Date sent to HCD: me day yr mo day yr Deferral(s) 5. a. Specify the authority for deferring any set-aside on Line 3a(5). Check only one Health and Safety Code Section boxes: ❑ Section 33334.6(d): Applicable to project areas approved before 1986 in which the required resolution was sent to HCD before September 1986 regarding needing tax increment to meet existing obligations. Existing obligations can include those incurred after 1985, if net proceeds were used to refinance pre -1986 listed obligations. Note: The deferral previously authorized by Section 33334.6(e) expired. It was only allowable in each fiscal year prior to July 1, 1996 with certain restrictions. ❑ Other: Specify code Section and reason: b. For any deferral claimed on Page 2, Line 3a(5) and/or Line 5a above, identify: Date that initial la finding was adopted: _/_/ Resolution # _ mo day yr Adoption date of reporting year finding: Resolution # mo day yr Date sent to HCD: mo day yr Date sent to HCD: mo day yr c. A deferred set-aside pursuant to Section 33334.6(d) constitutes indebtedness to the Housing Fund. Summarize the amount(s) of set-aside deferred over the reporting year and cumulatively as of the end of the reporting year: * The cumulative amount of deferred set-aside should also be shown on HCD-C, Line 8a. If the prior FY cumulative deferral shown above differs from what was reported on the last HCD report (HCD-A and HCD-C), indicate the amount of difference and the reason: Difference: $ Reason(s): California Redevelopment Agencies — Fiscal Year 2004-2005 HCD-A Soh A (7/v05) Page 3 of 6 Amount of Prior Cumulative Amount Amount Deferred Deferrals Raid Deferred (Net of Any Fiscal Year This Renorting FY During Reporting FY Amount(s) Repaid) (1) Last Reporting FY $ 0 $ * 0 (2) This Reporting FY $ 0 $ 0 * The cumulative amount of deferred set-aside should also be shown on HCD-C, Line 8a. If the prior FY cumulative deferral shown above differs from what was reported on the last HCD report (HCD-A and HCD-C), indicate the amount of difference and the reason: Difference: $ Reason(s): California Redevelopment Agencies — Fiscal Year 2004-2005 HCD-A Soh A (7/v05) Page 3 of 6 Tustin Agency Name: Community Redevelopment Agency Project Area Name: MCAS Tustin Deferrals (continued) S. d. Section 33334.6(g) requires any agency which defers set -asides to adopt a plan to eliminate the deficit in subsequent years. If this agency has deferred set -asides, has it adopted such a plan? Yes ❑ No ❑ If yes, by what date is the deficit to be eliminated? If yes, when was the original plan adopted for the claimed deferral? Identify Resolution # Date Resolution sent to HCD When was the last amended plan adopted for the claimed deferral? Identify Resolution # Date Resolution sent to HCD mo day yr mo day yr mo day yr mo day yr mo day yr Actual Proiect Area Households Displaced and Units and Bedrooms Lost Over Reporting Year• 6. a. Redevelopment Proiect Activity, Pursuant to Sections 33080.4(a)(1) and (a)(3), report by income category the number of elderly and nonelderly households permanently displaced and the number of units and bedrooms removed or destroyed, over the reporting year, (refer to Section 33413 for unit and bedroom replacement requirements). Project Activity VL L M - v AM _ Total J Households Permanently Displaced - Elderly 0 0 0 0 0 Households Permanently Displaced - Non Elderly 0 0 0 0 0 Households Permanently Displaced -Total 0 0 0 0 0 Units Lost (Removed or Destroyed) and Required to be Replaced 0 0 0 0 Bedrooms Lost (Removed or Destroyed) and Required to be Replaced 0 0 0 0 Above Moderate Units Lost That Agency is Not Required to Replace 0 0 Above Moderate Bedrooms Lost That Agency is Not Required to Replace 0 0 b. Other Activity, Pursuant to Sections 33080.4(a)(1) and (a)(3) based on activities other than the destruction or removal of dwelling units and bedrooms renorted on Line 6a. report by income category the number of elderly and nonelderly households permanently displaced over the reporting year: Other Activity VL L M AM Total Households Permanently Displaced - Elderly 0 0 0 0 0 Households Permanently Displaced - Non Elderly 0 0 0 0 Households Permanently Displaced - Total 0 0 0 0 0 c. As required in Section 33413.5, identify, over the reporting Year, each replacement housing plan required to be adopted before the permanent displacement, destruction, and/or removal of dwelling units and bedrooms impacting the households reported on lines 6a. and 6b. Date _/_/_ Name of Agency Custodian mo day yr Date Name of Agency Custodian mo day yr Please attach a separate sheet of paper listing any additional housing plans adopted California Redevelopment Agencies — Fiscal Year 2004-2005 HCD-A Soh A (7/1/05) Page 4 of 6 Tustin Agency Name: Community Redevelopment Agency Project Area Name: MCAS Tustin Estimated Proiect Area Households to be Permanently Displaced Over Current Fiscal Year: 7. a. As required in Section 33080.4(a)(2) for a redevelopment project of the agency, estimate. over the current fiscal vear, the number of elderly and nonelderly households, by income category, expected to be permanently displaced. (Note: actual displacements will be reported for the next reporting year on Line 6). Number of Househneds Project Activity VL L I M I AM Total Households Permanently Displaced - Elderly 0 0 0 0 0 Households Permanently Displaced - Non Elderly 0 0 0 0 0 Households Permanently Displaced - Total 0 0 0 0 0 b. As required in Section 33413.5, for the current fiscal year, identify each replacement housing plan required to be adopted before the permanent displacement, destruction, and/or removal of dwelling units and bedrooms impacting the households reported in 7a. Date mo day yr Date mo day yr Name of Agency Custodian Name of Agency Custodian Please attach a separate sheet of paper listing any additional housing plans adopted. Units Developed Inside the Project Area to Fulfill Requirements of Other Proiect Area(s) 8. Pursuant to Section 33413(b)(2)(A)(v), agencies may choose one or more project areas to fulfill another project area's requirement to construct new or substantially rehabilitate dwelling units, provided the agency conducts a public hearing and finds, based on substantial evidence, that the aggregation of dwelling units in one or more project areas will not cause or exacerbate racial, ethnic, or economic segregation. - Were any dwelling units in this project area developed to partially or completely satisfy another project area's requirement to construct new or substantially rehabilitate dwelling units? ® No. ❑ Yes. Date initial finding was adopted? / /_ Resolution # Date sent to HCD: mo day yr mo day yr California Redevelopment Agencies — Fiscal Year 2004-2005 HCD-A Sch A (7/1105) Page 5 of 6 Tustin Agency Name: Community Redevelopment Agency Project Area Name: MCAS Tustin Sales of Owner -Occupied Units Inside the Project Area Prior to the Expiration of Land Use Controls '2 Section 33413(c)(2)(A) specifies that pursuant to an adopted program, which includes but is not limited to an equity sharing program, agencies may permit the sale of owner -occupied units prior to the expiration of the period of the land use controls established by the agency. Agencies must deposit sale proceeds into the Low and Moderate Income Housing Fund and within three (3) years from the date the unit was sold, expend funds to make another unit equal in affordability, at the same income level, to the unit sold. a. Sales. Did the agency permit the sale of any owner -occupied units during the reporting year? ®No ❑Yes +— In Equal Units. ❑R No ❑Yes Were reporting year funds spent to make units equal in affordability to units sold over the last three reporting years? $ Total Proceeds From Sales Over Reporting Year Number of Units SALES VL L M Total Units Sold Over Reporting Year Equal Units. ❑R No ❑Yes Were reporting year funds spent to make units equal in affordability to units sold over the last three reporting years? $ Total LMIHF Spent On Equal Units Over Number of Units Reporting Year SALES VL L M Total Units Made Equal This Reporting Yr to Units Sold Over This Reporting Yr Units Made Equal This Reporting Yr to Units Sold One Reporting Yr Ago Units Made Equal This Reporting Yr to Units Sold Two Reporting Yrs Ago Units Made Equal This Reporting Yr to Units Sold Three Reporting Yrs Ago Affordable Units to be Constructed Inside the Project Area Within Two Years 10. Pursuant to Section 33080.4(a)(10), report the number of very low, low, and moderate income units to be financed by any federal, state, local, or private source in order for construction to be completed within two years from the date of the agreement or contract executed over the reporting vear. Identify the project and/or contractor, date of the executed agreement or contract, and estimated completion date. Specify the amount reported as an encumbrance on HCD-C, Line 6a. and/or any applicable amount designated on HCD-C, Line 7a. such as for capital outlay or budgeted funds intended to be encumbered for project use within two years from the reporting year's agreement or contract date. - DO NOT REPORT ANY UNITS ON THIS SCHEDULE A THAT ARE REPORTED ON OTHER HCD-As, B, OR Ds. Col A Col B Col C Col D Col E Name of Agreement Estimated Sch C Amount Sch C Amount Project and/or Execution Completion Date Encumbered Designated Contractor Date w/in 2yrs; of Col B Line 6a Line 7a VL L M Total Columbus Square 6/20/05 6 20 0 $ 0 $ 0 61 125 80 266 Columbus Grove 6/20/05 6/20/07 $ 0 $ 0 12 0 30 42 $ S Please attach a separate sheet of paper to list additional information. California Redevelopment Agencies — Fiscal Year 2004-2005 HCD-A Sch A (71v05) Page 6 of 6 SCHEDULE HCD-C Agency -wide Activity Tustin Community for Fiscal Year Ended 06 / 30 / 2005 Agency Name: Redevelopment Agency County: Orange James Draug on Preparer's Name, Title: Program Manager Preparer'sE-Mail Address: jdraughon@tustinca.org Preparer's Telephone No: (714) 573-3121 Preparer's Facsimile No: (714) 573-3113 Low & Moderate Income Housing Funds Report on the "status and use of the agency's Low and Moderate Income Housing Fund." Most information reported here should be based on information reported to the State Controller. 1. Beginning Balance (Use "Net Resources Available" from last fiscal year report to HCD) $ 7,138,209 a. If Beginning Balance recuires adjustment(s)describe and provide dollar amount (positive/negative) making up total adjustment: Use < $ > for negative amounts or amounts to be subtracted. b. Adjusted Beginning Balance [Beginning Balance plus+ or minus <-> Total Adjustment(s)) $ 7,138,209 2. Project Area(s) Receipts and Housing Fund Revenues a. Total Project Area(s) Receipts. Total Summed amount of HCD-Schedule A(s) (from Line 3k) $ 2,723,481 b. Housing Fund Resources not reported on HCD Schedule -A(s) Describe and Provide Dollar Amount(s) (Positive/Negative) Making Up Total Housing Fund Resources $ c. Total Housing Fund Resources I Total Resources (Line lb. + Line 2a+ Line 2c.) 9,861,690 NOTES: Many amounts to report as Expenditures and Other Uses (beginning on the next page) should be taken from amounts reported to the State Controller's Office (SCO). Review the SCO's Redevelopment Agencies Financial Transactions Report. Housing Fund "transfers -out" to other internal Agency funds: Report the specific use of all transferred funds on applicable lines 4a: k of Schedule C. For example, transfers from the Housing Fund to the Debt Service Fund for the repayment of principal and interest of debt proceeds deposited to the Housing Fund should be reported on the applicable item comprising HCD-C Line 4c, providing tax increment (gross and deposit amounts) were reported on Sch-As. External transfers out of the Agency should be reported on HCD-C Line 4j (e.g.: transfer of excess surplus to the County Housing Authority). Other Uses: Non -GAAP (Generally Accepted Accounting Principles) recording of expenditures such as land purchases for agencies using the Land Held for Resale method to record land purchases should be reported on HCD-C Line 4a(1). Funds spent resulting in loans to the Housing Fund should be included in HCD-C lines 4b., 4f, 4g, 4h., and 4i as appropriate. The statutory cite pertaining to Community Redevelopment Law (CRL) is provided for preparers to review to determine the appropriateness of Low and Moderate Income Housing Fund (LMIHF) expenditures and other uses. HCD does not represent that line items identifying any expenditures and other uses are allowable. CRL is accessible on the Internet [website: http://www.leginfo.ca.gov/ (California Law)] beginning with Section 33000 of the Health and Safery Code. California Redevelopment Agencies — Fiscal Year 2004-2005 HCD-C Sch C (7A/05) Pagel of 8 Agency Name: Tustin Community Redevelopment Agency 4. Expenditures, Loans, and Other Uses a. Acquisition of Property & Building Sites [33334.2(e)(1)l & Housing 133334.2(e)(6 (1) Land Purchases(Investment— Land Held -(or Resale)* $1,797,064 (2) Housing Assets (Fired Asset) * $ (c) City/County Advances & Loans (3) Acquisition Expense $ $ (4) Operation of Acquired Property $ (3) (5) Relocation Costs $ 11,900 (6) Relocation Payments $ 150,000 (7) Site Clearance Costs $ 0 (8) Disposal Costs $ 0 (9) Other [Explain and identify amount(s)] * Reported to SCO as part of Assets and Other Debts (10) Subtotal Property/Building Sites/Housing Acquisition (Sum of Lines 1 — 9) $ 1 , 958 , 9 64 b. Subsidies from Low and Moderate Income Housing Fund (LMIHF (1) 1" Time Homebuyer Down Payment Assistance $ (2) Rental Subsidies $ (3) Purchase of Affordability Covenants [33413(b)2(B)] $ (4) Other [Explain and identify amount(s)]: (5) Subtotal Subsidies from LMIHF (Sum of Lines 1 — 4) $ Debt Service [33334.2(e)(9)1. If paid from LMIHF, report LMIHF's share of debt service. If paid from Debt Service Fund, ensure "gross" tax increment is reported on HCD-A(s) Line 3a(1). (1) Debt Principal Payments d. Planning and Administration Costs f333343(e)(1 (1) Administration Costs $ 72,318 (2) Professional Services (non proiect specific) $ 78,146 (3) Planning/Survey/Design (non project specific) $ (4) Indirect Nonprofit Costs[33334.3(e)(1)(B)] $ (5) Other [Explain and identify amount(s)]: (6) Subtotal Planning and Administration (Sum of Lines 1 — 5) $ 150,464 California Redevelopment Agencies — Fiscal Year 20042005 HCD-C sch C (7/v05) Page 2 of 10 (a) Tax Allocation, Bonds & Notes $ (b) Revenue Bonds & 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 [Explain and identify amount(s)]: (5) Subtotal Debt Service (Sum of Lines 1— 4) $ 0 d. Planning and Administration Costs f333343(e)(1 (1) Administration Costs $ 72,318 (2) Professional Services (non proiect specific) $ 78,146 (3) Planning/Survey/Design (non project specific) $ (4) Indirect Nonprofit Costs[33334.3(e)(1)(B)] $ (5) Other [Explain and identify amount(s)]: (6) Subtotal Planning and Administration (Sum of Lines 1 — 5) $ 150,464 California Redevelopment Agencies — Fiscal Year 20042005 HCD-C sch C (7/v05) Page 2 of 10 Agency Name: Tustin Community Redevelpment Agency 4. Expenditures, Loans, and Other Uses (continued) e. On/Off-Site Improvements [33334.2(e)(2)] Complete item 13 $ f Housing Construction [33334.2(e)(5)] $ g. Housing Rehabilitation [33334.2(e)(7)] $ ii. Maintenance of Mobilehome Parks [33334.2(e)(10)] $ i. Preservation of At -Risk Units [33334.2(e)(11)] $ j. Transfers Out of Agency (1) For Transit village Development Plan (33334.19) $ (2) Excess Surplus [33334.12(a)(1)(A)] $ (3) Other (specify code section authorizing transfer and amount) A. Section $ B. Section $ Other Transfers Subtotal $ (4) Subtotal Transfers Out of Agency (Sum of j(1) through j(3)) $ k. Other Expenditures, Loans, and Uses [Explain and identify amount(s)]: S S S Subtotal Other Expenditures, Loans, and Uses $ 0 1. Total Expenditures, Loans, and Other Uses (Sum of lines 4a. -k.) $2,109,428 5. Net Resources Available [End of Reporting Fiscal Year] [Page 1, Line 3, Total Resources minus Total Expenditures, Loans, and Other Uses on Line 4.1.] $7,752,262_ 6. Encumbrances and Unencumbered Balance a. Encumbrances. Amount of Line 5 reserved for future payment of legal contract(s) or agreement(s). See Section 33334.12(8)(2) for definition. $ 4,103,502 Refer to item 10 on Sch-A(s) and item 4 on Sch-B. b. Unencumbered Balance (Line 5 minus Line 6a). Also enter on Page 4, Line I 1 a. S 3,648,760 7• Designated/Undesignated Amount of Available Funds a. Designated From Line 6b- Budgeted/planned to use near-term $ Refer to item 10 on Sch-A(s) and item 4 on Sch-B — b. Undesignated From Line 6b- Portion not vet budgeted/planned to use $ 8. Other Housing Fund Assets (non recurrent receivables) not included as part of Line 5 a. Indebtedness from Deferrals of Tax Increment (Sec. 33334.6) [refer to Sch-A(s), Line 5c (2)]. $ 2,776,042 b. Value of Land Purchased with Housing Funds and Held for Development of Affordable Housing. Complete Sch-C item 14. $ 3,820,000 c. Loans Receivable for Housing Activities $ 1,207,668 d. Residual Receipt Loans (periodic/fluctuating payments) T 0 e. ERAF Loans Receivable (all years) (Sec. 3368 1) $ 0 f Other Assets [Explain and identify amount(s)]: 0 S s g• Total Other Housing Fund Assets (Sum of lines 8a. -f) $ 7,803,710 9. TOTAL FUND EQUITY[Line 5 (Net Resources Available) +8g (Total Other Housing Fund Assets]$ 15,555, 9 72 Compare Line 9 to the below amount reported to the SCO (Balance Sheet of Redevelopment Agencies Financial Transactions Report. [Explain differences and identify amount(s)]: Encumbrances $ 4,103,502 ENTER LOW -MOD FUND TOTAL EQUITIES (BALANCE SHEET) REPORTED TO SCO $11,451,291 California Redevelopment Agencies — Fiscal Year 2004-2005 HCD-C Sch C (7/1/05) Page 3 of 10 Agency Name: Tustin Community Redevelopment Agency Excess Surplus Information Pursuant to Section 33080.7 and Section 33334.12(g)(1), report on Excess Surplus that is required to be determined on the first day of a fiscal year. Excess Surplus exists when the Adjusted Balance exceeds the greater of (1) $1,000,000 or (2) the aggregate amount of tax increment deposited to the Housing Fund during the prior four fiscal years. Section 33334.12(g)(3)(A) and (B) provide that the Unencumbered Balance can be adjusted for: (I) my remaining revenue generated in the reporting year from unspent debt proceeds and (2) if the land was disposed of during the reporting year to develop affordable housing, the difference between the fair market value of land and the value received. The Unencumbered Balance is calculated by subtracting encumbrances from Net Resources Available. "Encumbrances" are funds reserved and committed pursuant to a legally enforceable contract or agreement for expenditure for authorized redevelopment housing activities [Section 33334.12(g)(2)]. For Excess Surplus calculation purposes, carry over the prior year's HCD Schedule C Adjusted Balance as the Adjusted Balance on the first day of the reporting fiscal year. Deterrnirre which is larger: (1) $1 million or (2) the total of tax increment deposited over the prior four years. Subtract the largest amount from the Adjusted Balance and, if positive, report the amount as Excess Surplus. 10. Excess Surplus: Complete Columns 2, 3, 4, & 5 to calculate Excess Surplus for the reporting year. Columns 6 and 7 track prior years' Excess Surplus. Column 1 Column 2 Column 3 Sum of Tax Column 4 Current Column 5 Current Column 6 Amount Column 7 4 Prior and Total Tax Increment Reporting Year Reporting Year Expended/Encumbered Remaining Excess Current Increment Deposits Over I't Day I` Day Against FY Balance of Surplus for Each Reporting Deposits to Prior Four Adjusted Excess Surplus Excess Surplus as of Fiscal Year as of Years Housing Fund FYs Balance Balances End of Reporting Year End of Reporting Year 4 Rett Yrs Ago Fy 00-01 $1599657 $ 0 $ 1,393,345 S 0 3 Rst Yrs Ago FY 01-02 $1812720 $ 0 $ 727,662 $ 0 2 M Yrs Ago FY 02-03 $1518840 $ 304,884 $ 6,915,947 $ 0 1 Rpt Yr Ago FY 03-04 $1553315 $ 0 $ 5,484,214 $ 0 CURRENT Sum of Column 2 Inst Year's Sch C Cot 4 minus: larger Reporting Adiusted Balance of Col 3 or $Imm Year (report positive $) Fy 04-05 $6484532 $3397271 $ 0 $ 6,212,930 $ 0 11. Renortina Year Ending Unencumbered Balance and Adjusted Balance: a. Unencumbered Balance (End of Year) [Page 3, Line 6b] $ 3,648,760 b. If eligible, adjust the Unencumbered Balance for: (1) Debt Proceeds [33334.12(g)(3)(B)]: Identify unspent debt proceeds and related income remaining at end of reporting year $ 0 (2) Land Conveyance Losses [(33334.12(g)(3)(A))]: Identify reporting year losses from sales/grants/leases of land acquired with low -mod funds, if 49% or more of new or rehabilitated units will be affordable to lower-income households $ 0 12. Adjusted Balance (for next year's determination of Excess Surplus) [Line Ila minus sum of l lb(1) and l lb(2)] $ Do not enter Adjusted Balance in Col 4. It is to be reported as next year's 1st day amount to determine Excess a. If there is remaining Excess Surplus from what was determined on the first day of the reporting year, describe the agency's plan (as specified in Section 33334.10) for transferring, encumbering, or expending excess surplus: b. If the plan described in 12a. was adopted, enter the plan adoption date: California Redevelopment Agencies — Fiscal Year 2004-2005 Sch C (7/1/05) mo day yr HCD-C Page 4 of 10 760 Agency Name: Tustin Community Redevelopment Aegncy Miscellaneous Uses of Funds 13. If an amount is reported in 4e, pursuant to Section 33080.4(a)(6), report the total number of very low-, low-, and moderate -income households that directly benefited from expenditures for onsite/offsite imnrovements which resulted in either new construction, rehabilitation, or the elimination of health and safety hazards. (Note: If Line 4e of this schedule does not show expenditures for improvements, no units should be reported here.) Income Level Households Constructed Households Rehabilitated Households Benefiting from Elimination of Health and Safety Hazard Duration of Deed Restriction Very Low Newport Avenue 0.4 R-3 1/9/2000 Low Extg. 8 units for Rehab W. Preble Drive 0.5 R-3 Moderate 6/30/2006 Extg. 9 units for Rehab E. Preble Drive 0.5 14. If the agency is holding land for future housing development (refer to Line 8b), summarize the acreage (round to tenths, do not report square footage), zoning, date of purchase, and the anticipated start date for the housing development. Site Name/Location* No. of Acres Zoning Purchase Date Estimated Date Available Comments Newport Avenue 0.4 R-3 1/9/2000 6/30/2006 Extg. 8 units for Rehab W. Preble Drive 0.5 R-3 1/13/2004 6/30/2006 Extg. 9 units for Rehab E. Preble Drive 0.5 R-3 11/1/2004 6/30/2006 Extg. 9 units for Rehab Please attach a separate sheet of paper listing any additional sites not reported above. 15. Section 33334.13 requires agencies which have used the Housing Fund to assist mortgagors in a homeownership mortgage revenue bond program, or home financing program described in that Section, to provide the following information: a. Has your agency used the authority related to definitions of income or family size adjustment factors provided in Section 33334.13(a)? Yes ❑ No ❑ Not Applicable 91 b. Has the agency complied with requirements in Section 33334.13(b) related to assistance for very low-income households equal to twice that provided for above moderate -income households? Yes ❑ No ❑ Not Applicable California Redevelopment Agencies — Fiscal Year 2004-2005 HCD-C sch C (7ni05) Page 5 of 10 Agency Name: Tustin Community Redevelopment Agency 16. Did the Agency use non-LMIHF funds as matching funds for the Federal HOME or HOPE program during the reporting period? YES ❑ NO MX If ves, please indicate the amount of non-LMIHF funds that were used for either HOME or HOPE program support. HOME $ HOPE $ 17. Pursuant to Section 33080.4(a)(11), the agency shall maintain adequate records to identify the date and amount of all LMIHF deposits and withdrawals during the reporting period. To satisfy this requirement, the Agency should keep and make available upon request any and all deposit and withdrawal information. DO NOT SUBMIT ANYDOCUMENTS/RECORDS. Has your agency made any deposits to or withdrawals from the LMIHF? Yes ® No ❑ If yes, identify the document(s) describing the agency's deposits and withdrawals by listing for each document, the following (attach additional pages of similar information below as necessary): Name of document (e.g. ledger, journal, etc.): Name of Agency Custodian (person): Custodian's telephone number: Place where record can be accessed: Name of document (e.g. ledger, journal, etc.): Name of Agency Custodian (person): Custodian's telephone number: Place where record can be accessed: Ron Nault, Finance Director (714) 573-3061 City of Tustin 18. Use of Other (non Low -Mod Funds) Redevelopment Funds for Housing Please briefly describe the use of any non-LMIHF redevelopment funds (i.e., contributions from the other 80% of tax increment revenue or other non Low -Mod funds) to construct, improve, assist, or preserve housing in the community. 19. Suggestions/Resource Needs Please provide suggestions to simplify and improve future agency reporting and identify any training, information, and/or other resources, etc. that would help your agency to more quickly and effectively use its housing or other funds to increase, improve, and preserve affordable housing? 20. Annual Monitoring Reports of Previously Completed Affordable Housing Proiects/Programs (H&SC 33418) Were all Annual Monitoring Reports received for all prior years' affordable housing projects/programs? Yes ® No ❑ Califomia Redevelopment Agencies — Fiscal Year 2004-2005 HCD-C soh C (711/05) Page 6 of 10 Agency Name: Tustin Community Redevelopment Agency 21. Excess Surplus Expenditure Plan (H&SC 33334.10(a) Califomia Redevelopment Agmcics — Fiscal Year 2004-2005 HCD-C Sch C (7/1/05) Page 7 of 10 Agency Name: Tustin Community Redevelopment Agency 22. Foot note area to incorporate any additional information. California Redevelopment Agencies — Fiscal Year 2004-2005 HCD-C §eh C (7ni05) Page 8 of 10 Agency Name: Tustin Community Redevelopment Agency 23. Proicer Achievement and HCD Director's Award for Housing Excellence Project achievement information is optional but can serve important purposes: Agencies' achievements can inform others of successful redevelopment projects and provide instructive information for additional successful projects. Achievements may be included in HCD's Annual Report of Housing Activities of California Redevelopment Agencies to assist other local agencies in developing effective and efficient programs to address local housing needs. In addition, HCD may select various projects to receive the Director's Award for Housing Excellence. Projects may be selected based on criteria such as local affordable housing need(s) met, resources utilized, barriers overcome, and project innovation/complexity, etc. Project achievement information should only be submitted for one affordable residential project that was completed within the reporting year as evidenced by a Certificate of Occupancy. The project must not have been previously reported as an achievement. To publish agencies' achievements in a standard format, please complete information for each underlined category below addressing suggested topics in a narrative format that does not exceed two pages (see erample, next page). In addition to submitting information with other HCD forms to the State Controller, please submit achievement information on a 3.5 inch diskette and idents the software type and version. For convenience, the diskette can be separately mailed to: HCD Policy Division, 1800 Yd Street, Sacramento, CA 95814 or data can be emailed by attaching the ftie and sending it to: dmckell(a),hcdca.gov or rle ed ca.gov. AGENCY INFORMATION • Project Type (Choose one of the categories below and one kind of assistance representing thenv imary project type): New/Additional Units (Previously Unoccupied/Uninhabitable)7 Existing Units (Previously Occupied) - New Construction to own - Rehabilitation of Owner -Occupied - New Construction to rent - Rehabilitation of Tenant -Occupied - Rehabilitation to own - Acquisition and Rehabilitation to Own - Rehabilitation to rent - Acquisition and Rehabilitation to Rent - Adaptive Re -use - Mobilehomes/Manufactured Homes - Mixed Use Infill - Payment Assistance for Owner or Renter - Mobilehomes/Manufactured Homes - Transitional Housing - Mortgage Assistance - Other (describe) - Transitional Housing - Other (describe) • Agency Name: • Agency Contact and Telephone Number for the Project: DESCRIPTION • Project Name • Clientele served [owner, renter, income group, special need (e.g. large family or disabled), etc.] • Number and type of units and location, density, and size of project relative to other projects, etc. • Degree of affordability/assistance rendered to famihes by project, etc. • Uniqueness (land use, design features, additional services/amenities provided, funding sources/collaboration, before/after project conversion such as re -use, mixed use, etc.) • Cost (acquisition, clean-up, infrastructure, conversion, development, etc.) HISTORY • Timefi-ame from planning to opening • Barriers/resistance (legal/financial/community, etc.) that were overcome • Problems and creative solutions found • Lessons learned and/or recommendations for undertaking a similar project AGENCY ROLE AND ACHIEVEMENT • Degree of involvement with concept, design, approval, financing, construction, operation, and cost, etc. • Specific agency and/or community goals and objectives met, etc. California Redevelopment Agencies — Fiscal Year 20042005 HCD-C Sch C (nt05) Page 9 of 10 SCHEDULE HCD-D1 GENERAL PROJECT/PROGRAM INFORMATION For each different Project/Program (area/name/age or nonage dev/rental or owner), complete a D1 and applicable D2 -D7 Examples: 1: 25 minor rehab (Nonagy Dev): Area 1: 15 Owner; Area 2: 6 Rental; & Outside: 4 Rental. Complete 3 D-1 s, & Ds3-4-5. 2: 20 sub rehab (nonrestricted): Area 3: 4 Agy Dev. Rentals; 16 Nonagy Dev. Rentals. Complete 2 D-1 s & 2 D -5s. 3: 15 sub rehab (restricted): Area 4: 15 Nonagy Dev, Owner. Complete 1 D-1 & 1 D-3. 4: 10 new (Outside). 2 Agy Dev (restricted Rental), 8 Nonagy Dev (nonrestricted Owner) Complete 2 D-1 s, 1 D-4, & 1 D-5. Name of Redevelopment Agency: Identify Project Area or specify "Outside": General Title of Housing Project/Program: Project/Program Address (optional): Street: Tustin Community Redevelopment Agency MCAS Tustin Tustin Fields I 2[ty: ZIP: Owner Name (optional): Total Project/Program Units: #_3 Z6 Restricted Units: #-13_ Unrestricted Units: #298 For projects/programs with no RDA assistance, do not complete any of below or any of HCD D2-136. Only complete HCD-D7. Was this a federally assisted multi -family rental project [Gov't Code Section 65863.10(a)(3)]? ❑ YES ® NO Number of units occupied by ineligible households (e.g. ineligible income/# of residents in unit) at FY end # 0 Number of bedrooms occupied by ineligible persons (e.g. ineligible income/# of residents in unit) at FY # end 0 Number of units restricted for special needs: (numbermust not exceed "Total Project Units) # 0 Number of units restricted that are serving one or more Special Needs: # ❑ Check, if data not available (rvore: A unit may serve mwaple-opeclar /veeas- oelow. gum or au the oeiow can exceed me ivurnoer or omrs aoove) # DISABLED (Mental) # FARMWORKER (Permanent) # - TRANSITIONAL HOUSING # DISABLED (Physical) # FEMALE HEAD OF HOUSHOLD # ELDERLY # FARMWORKER (Migrant) # LARGE FAMILY # EMERGENCY SHELTERS (4 or more Bedrooms) (allowable use onlv with "Other Housing Units Provided - Without LMIHF" Sch-D6) Affordability and/or S ecial Need Use Restriction Term enter da /month/ ear using digits, e.g. 07/01/2002): Re lacement Housing Units Incluslonary Housing Units Other Housing Units Provided With LMIHF Without LMIHF Restriction Start Date Close of Escrow Restriction End Date 45 Years (2051) Perpetuity $ 19.045.000 Funding Sources: Redevelopment Funds: $ Federal Funds $ State Funds: $ Other Local Funds: $ 19.045.000 Private Funds: $ 132.094.365 Owner's Equity: $ TCAC/Federal Award: $ TCAC/State Award: $ Total Development/Purchase Cost: $ 151,144,365 Check all appropriate form(s) below that will be used to identify all of this Project's/Program's Units: ❑ Replacement Housing Units Inclusionary Units: Other Housing Units Provided: (Sch HCD-D2) Q Inside Project Area (Sch HCD-03) ❑ With LMIHF (Sch HCD-05) ❑ Outside Project Area (Sch HCD-D4) ❑ Without LMIHF (Sch HCD-D6) ❑ No Agency Assistance (Sch HCD-D7) California Redevelopment Agencies - Fiscal Year 2004-2005 HCD-D1 Sch DI (7/1/05) SCHEDULE HCD-D3 INCLUSIONARY HOUSING UNITS INSIDE PROJECT AREA) (units not claimed on Schedule D-4,5,6,7) (units with required affordability restrictions that agency or community controls) Agency: Tustin Community Redevelopment Agency Redevelopment Project Area Name: MCAS Tustin Affordable Housing Project Name: Tustin Fields I Check only one. If both apply, complete a separate form for each (with another Sch-D1): ❑ Aaencv Developed ® Non-Aaencv Developed Check only one. if both apply, complete a separate form for each (with another Sch-D1): ❑ Rental ❑X Owner -Occupied Enter the number of units for each applicable activity below: Note: `INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total A. New Construction Units: Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. 22 1 12 44 78 0� 22 1 12 44 78 0� Of Total, identify the number aggregated from other project areas (see HCD-A(s), Item 8): 0 B. Substantial Rehabilitation (Post-93/AB 1290 Definition of Value >25%: Credit for Oblioations Since 1994): Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. Of Total, identify the number aggregated from other project areas (see HCD-A(s), Item 8): C. Other/Substantial Rehabilitation (Pre-94/AB 1290 Definition: Credit for Obligations Between 1976 and 1994): Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. D. Acquisition of Covenants (Post-93/AB 1290 Reform: Only Multi -Family Vlow & Low & Other Restrictions): Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. TOTAL UNITS (Add only TOTAL of all "TOTAL Elderly / Non Elderly Units"): M If TOTAL UNITS is less than "Total Project Units "on HCD Schedule Dl, report the remaining units as instructed below. Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported: ❑ Replacement Housing Units ❑ Inclusionary Units Outside Project Area) Other Housing Units Provided: (Sch HCD-D2) (Sch HCD-D4) ❑ With LMIHF (Sch HCD-D5) ❑ Without LMIHF (Sch HCD-D6) ❑ No Assistance (Sch HCD-D7) Identify the number of Inclusionary Units which also have been counted as Replacement Units: Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. I� VLOW LOW MOD TOTAL INELG. I I = California Redevelopment Agencies - Fiscal Year 2004-2005 HCD-D3 Sch D3 (7/1/05) SCHEDULE HCD-E CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION BASED ON SPECIFIED HOUSING ACTIVITY DURING THE REPORTING YEAR AgenCy: Tustin Community Redevelopment Agency Name of Project or Area (if applicable, list "Outside" or "Summary": MCAs Tustin Fields I Complete this form to report activity separately by project or area or to summarize activity for the year. Report all new construction and/or substantial rehabilitation units from Forms D2 through D7 that were: (a) developed by the agency andlor (b) developed only in a project area by a nonagency person or entity. 1. Section 33413(b)(1), (2), and (4) require agencies to ensure that applicable percentages (30% or 15010) of all (market -rate and affordable) "new and substantially rehabilitated dwelling units" are made available at affordable housing cost within 10 year planning periods. Market -rate units: units not assisted with low -mod funds and jurisdiction does not control affordability restrictions. Affordable units: units generally restricted for the longest feasible time beyond the redevelopment plan's land use controls and jurisdiction controls affordability restrictions. Agency developed units: market -rate units can not exceed 70 percent and affordable units must be at least 30 percent; however, all units assisted with low -mod funds must be affordable. Nona2encv developed (Proiect area) units: market -rate units can not exceed 85 percent and affordable units must be at least l5 percent 2. Production requirements may be met on a project -by -project basis or in aggregate within each 10 year planning period. The percentage of affordable, units relative to total units required within each 10 year planning period may be calculated as follows: AFFORDABLE units= Market -rate x (.30 or .15) TOTAL units = Market -rate or Affordable (.70or. 85) (.70or. 85) (.30or. 15) California Redevelopment Agencies - Fiscal Year 2004-2005 HCD-E Soh E-1 (7/01/05) PART I [H&SC Section 33413(b)(1)] AGENCY DEVELOPED UNITS DURING THE REPORTING YEAR BOTH INSIDE AND OUTSIDE OF A PROJECT AREA 1. New Units Developed by the Agency 0 2. Substantially Rehabilitated Units Developed by the Agency 0 3. Subtotal - Baseline of Agencv Developed Units (add lines 1 & 2) 0 4. Subtotal of Increased Inclusionary Obligation (Line 3 x 30%) (see Notes I and 2 below) 0 5. Very -Low Inclusionary Obligation Increase Units (Line 4 x 50%) PART II [H&SC Section 33413(b)(2)] NONAGENCY DEVELOPED UNITS DURING THE REPORTING YEAR ONLY INSIDE A PROJECT AREA 6. New Units Developed by Any Nona eq ncy Person or Entity 376 7. Substantially Rehabilitated Units Developed by Any Nonagency Person or Entity 0 8. Subtotal - Baseline of Nonaeency Developed Units (add lines 6 & 7) 376 9. Subtotal of Increased Inclusionary Obligation (Line 8 x 15%) (see Notes 1 and 2 below) 57 10. Very -Low Inclusionary Obligation Increase (Line 9 x 40%) 23 PART III REPORTING YEAR TOTALS 11. Total Increase in Inclusionary Obligation (add lines 4 and 9) 0 12. Very -Low Inclusionary Obligation Increase (add lines 5 and 10) (Line 12 is a subset of Line 11) 0 1. Section 33413(b)(1), (2), and (4) require agencies to ensure that applicable percentages (30% or 15010) of all (market -rate and affordable) "new and substantially rehabilitated dwelling units" are made available at affordable housing cost within 10 year planning periods. Market -rate units: units not assisted with low -mod funds and jurisdiction does not control affordability restrictions. Affordable units: units generally restricted for the longest feasible time beyond the redevelopment plan's land use controls and jurisdiction controls affordability restrictions. Agency developed units: market -rate units can not exceed 70 percent and affordable units must be at least 30 percent; however, all units assisted with low -mod funds must be affordable. Nona2encv developed (Proiect area) units: market -rate units can not exceed 85 percent and affordable units must be at least l5 percent 2. Production requirements may be met on a project -by -project basis or in aggregate within each 10 year planning period. The percentage of affordable, units relative to total units required within each 10 year planning period may be calculated as follows: AFFORDABLE units= Market -rate x (.30 or .15) TOTAL units = Market -rate or Affordable (.70or. 85) (.70or. 85) (.30or. 15) California Redevelopment Agencies - Fiscal Year 2004-2005 HCD-E Soh E-1 (7/01/05)