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CDC - Item 2C - 05-06 State Mandated Redevelopment Agency ReportsE 171 ROSEMEAD COMMUNITY DEVELOPMENT COMMISSION STAFF REPORT TO: THE HONORABLE CHAIRMAN AND COMMISSION MEMBERS / FROM: ANDREW C. LAZZARETTO, EXECUTIVE DIRECTORA4,t%J CgZik.~e~o ~ DATE: January 23, 2006 SUBJECT: 2005-06 STATE MANDATED REDEVELOPMENT AGENCY REPORTS SUMMARY The Community Redevelopment Law, as contained in the Health & Safety Code Section 33080.1, requires that five (5) annual reports be submitted to and accepted by the Community Development Commission and City Council within six months after the end of each fiscal year. Once accepted, the Community Development Commission and City Council may authorize. staff to transmit the final approved reports to the State. The five reports include the following: 1. State Controller's Report (Attachment A) 2. State Housing and Community Development Report (Attachment B) 3. The Blight Removal Progress, Property Report, and Loan Report contained in a single document (Attachment C) Staff Recommendation Staff recommends that the Community Development Commission approve the State Controllers, State Housing and Community Development, Blight Removal Progress, Property, and Loan Reports and authorize the City Manager or his designee to transmit these reports to the State. DISCUSSION As part of the Community Development Commission's annual reporting requirements, the City Council and Commission are required to approve and authorize the transmittal of various reports on activities performed by the Commission during the previous fiscal year (FY 2005-06) to the State of California by December 3151 of each year. (Staff has previously informed the State that our annual reporting will be late for FY 2005-06 due personnel transition issues.) The reports include a detailed overview of both the Commission's financial and affordable housing activities, in addition to other programs and projects either completed or in progress that will assist in the alleviation of blight in the project areas. Furthermore, the reports identify any loans made by the Commission that are $50,000 APPROVED FOR CITY COUNCIL AGENDA: Community Development Commission Meeting January 23, 2007 Paqe 2 of 2 or more and which are in default while also listing any property owned by the Commission. Attachments A and B are the actual forms that will be submitted electronically to the State that describe the Commission's financial and affordable housing activities during FY 2005-06. These reports were prepared by staff using audited information from the Commission's financial auditors McGladrey & Pullen. Attachment C combines the Blight. Removal, Loan Report and Property Report in one document. The Blight Removal section explains the various programs and projects administered by the City and Commission that have helped to alleviate blight in the project areas. The Commission does not currently have any loans of $50,000 or greater that are in default, and also, the Commission owns one property, a 6,970 square foot vacant parcel of land at 4016 Temple City Boulevard which was acquired in February 2003. PUBLIC NOTICE PROCESS This item has been noticed through the regular agenda notification process. LEGAL REVIEW This staff report and attachments have been reviewed and approved by the City Attorney. Submitted by: Jesse Duff Community Development Director Prepa.r d tz-1 y: Saeki Redevelopment Administrator/RCDC Deputy Executive Director Attachment A - State Controllers Report Attachment B - State Housing and Community Development Report Attachment C - Blight Removal Progress, Property and Loan Reports ATTACHMENT A REDEVELOPMENT AGENCIES FINANCIAL TRANSACTIONS REPORT COVERPAGE Entity Name: Rosemead Community Development Commission _ Fiscal Year 2006 ID Number: 13981974600 Submitted by: Signature Deputy Executive Director Title Brian Saeki Name (Please Print) 1/24/07 Date Per Health and Safety Code section 33080, this report is due within six months after the end of the fiscal year. The report is to induce two (2) copies of the agency's component unit audited financial statements, and the report on the Status and Use of the Low and Moderate Income Housing Fund (HCD report). To meet the filing requirements, all portions must be received by the California State Controller's Office. To file electronically: To file a paper report: 1. Complete all forms as necessary. 1. Complete all forms as necessary. 2. Transmit the completed output file using a File 2. Sign this cover page, and mail complete repon to either address Transfer Protocol (FTP) program or via diskette. below with 2 audits and the HCD report. 3. Sign this cover page and mail to either address below with 2 audits and the HCD report. Report will not be considered filed until receipt of this sinned cover page. Mailing Address: State Controller's Office Division of Accounting and Reporting Local Government Reporting Section P. 0. Box 942850 Sacramento, CA 94250 Express Mailing Address: State Controller's Office Division of Accounting and Reporting Local Government Reporting Section 3301 C Street, Suite 700 Sacramento, CA 95816 O N N .r{ E U L G d F F1 O ri N v T C C E E O V ro c v N O x O F R Z T U C d c 0 C 0 d d • O N ~ N N N I I I rn o. o, a V1 u'1 ~ 6 N N N r 7 T N ~ Y+ V ^_J L ro d d E N T d V _ w ro i u m b ro C Sr LL G Z T ° m J ro a L L m m m E ° 1J 7 y z r a N N to L S U a C `o u J O = u d ~ 2 T O u ~ ~ m C d U d u u p1 N d N m Y N LL f'1 N J I u1 O J < N a d = c c d m ~ Z a o d r j d d V c E N ' d T J d ~ LL J LL ~ h V N N d r n m = Y d .ti ~ m U A ro s n z C N m O N ro a LL ~ N O ro ~ N m m ~ N N c m ' Z q { r N N 1~ N L~ al 7 , 1 ."i ` > c r a cJ O~ m m o J N J r-I V E L~ J Li Li Li I` I E V - I h t'' ~ W ~ v a7 O~ N O O 'O D 4 L D L m^ L ^ D L D C N O E .F E E E E c c E c m = ' y y p d m O a m U m 0 d d R d a E C N r1 . n D 3 m o' d ( m G N a m P N ry' O _ N m c m O N d N m ~ D o N Q N a o D a a o 0 0 m o x ~ i m P~: =n m m ~ ~ g Ja N N w O n~ O ~ C O O _ N_ u N ° _O m b _ a ? 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V a O D O C y 61 q U q a O d L Z ~ C ~ d o m co F n ~ ~ o a m m d N g c n d . - e ° ~ d t v o n ' a R N - ¢ a _ O 5 LL u - R c C N~ J J y N m a V T C . J . R C1 0 ❑ J vI N d O Q✓ a' C U . 10 'O C v G G L O a o ° d c m a w m= a> x m e R C O F- U R R O O J d 2 d N d N a d U `b O y d N J v N V 9 G O N .r{ E E 0 U d 7 d Q G 7 O r E N y O V A Z T V C N Q n R O ~ f s I m x LL 0 R N ~ N C a d U' s ca o y m m y F U d N _ a mOa y 'u u c v ~ U ncLL ul d a m L C O a rn c °i c !p R q N m N O d 02 ~ ~ d o n '3 E" R o 0 J u y d d t d N m y ~ u h c c o ry ~ LL 'A d ID ~ N u m D 9 d C R LL R U S N R N L % a d C R z R _ m, R d, C O ~ C QI m N ~ ~ N U' C G C ' c v v 0 v~ 'E ~ d C m R d R m W m J V d N d c N R G R~ G d R Z G v N ~ R v~ - 'S m y s c c o a o h- ow W E G L L~ L~ E N v m O d U `m O a c R U J N N u m 0 as W C ~ ° c v a m cao E > >.0 b 0 u 2 w a ~ C `w tO u a ~ G E ' U ~ ~ O W a m m = n c ° u w N b G ~ u o O ~ U'[ O D W a ° G O O M N LL m v [ a y > V c w a ii v ~ 2 o o O LL y. 'm w U. 'u m ~ d G W ~ G y b ~ Q m LL uj _ Q o ~ v v o ~ m o u ~ m o rn c= y K 0 w 2 y ~ m m ~ v Q o o h N N H Ip G ' T d ~ 4 p b 111 ~ d u m w > ~ Oi d Q O C o w y ~ m n o ~ m n 0 aQ~ 16 w a a y c u q [ [ ~ G N O a~ a m Qm Ll ATTACHMENT B • ~ O i C u O i v n r m ~ u a ~ c o ~ ~ e o ~ a o ~ c a` U 0 2 m 0 I 0 a IL Cdlifornia Redevelopment Agencies - Fiscal Yea*512006 Status of Low and Moderate Income Housing Funds Sch C Agency Financial and Program Detail ROSEMEAD RDA Beginning Balance $1,300,997 Adjustment to Beginning Balance $0 Adjusted Beginning Balance $1,300,997 Total Tax Increment From PA(s) $989,417 Total Receipts. from PA(s) $1,396,053 Other Revenues not reported on Schedule A $0 Sum of Beginning Balance and Revenues $2,697,050 Expenditure Item Subitem Amount Remark Debt Service Other - $981,751 Repayment for advance payment for 20% tax increment. Subtotal of Debt Service $981,751 Other $132,000 Misc. expenses, lease payments to general fund Subtotal of Other - $132,000 Planning and Administration Costs Administration Costs 5219,600 Other $260,706 Management Co. _ service, other opi expense Professional Services 515,090 Subtotal of Planning and Administration Costs $495,396 Total Expenditures $1,609,147 Net Resources Available $1,087,903 Indebtedness For Setasides Deferred $4,947,087 01/18/07 Page 1 of 3 C1i(ornia Redevelopment Agencies- Fiscal Year05/2006 Status of Low and Moderate Income Housing Funds Sch C Agency Financial and Program Detail ,ROSEMEAD RDA Other Housing Fund Assets Category Amount - Remark Total Other Housing Fund Assets Total Fund Equity $6,034,990 200112002 $299993 200212003 $290868 sum of 4 Previous Years' Tax Prior Year Ending Unencum 260312004 $0 Increment for 200512006 200412005 $917720 $1508581 $1,300,997 Excess Surplus for 2005/2006 $0 Sum of Current and 3 Previous Years' Tax Increments Adjusted Balance Excess Surplus for next year Net Resources Available Unencumbered Designated Unencumbered Undesignated Total Encumbrances Unencumbered Balance Unencumbered Balance Adjusted for Debt Proceeds Unencumbered Balance Adjusted for Land Sales Excess Surplus Expenditure Plan Excess Surplus Plan Adoption Date $2,198,005 $1,087,903 $0 $1,087,903 $0 $1,087,903 $0 $1,087,903 $0 $0 No Site Improvement Activities Benefiting Households ' Income Level Low Very Low Moderate Total I Land Held for Future Development Site Name Num Of Zoning Purchase Estimated Remark Acres Date Start Date Use of the Housing Fund to Assist Mortgagors Income Adjustment Factors Page 2 of 3 Requirements Completed. 01/18/07 Ofornia Redevelopment Agencies - Fiscal Year9S/2006 Status of Low and Moderate Income Housing Funds Sch C Agency Financial and Program Detail ROSEMEAD RDA Home $ Hope Non Housing Redevelopment Funds Usage Resource Needs Document Name Low and Moderate Fund Description Document Custodian Date Name 01-JUN-05 Larry Hurst Custodian Phone (626) 569-2121 Copy Source City of Rosemead Page 3 of 3 01/18/07 • 1"f O ~ y O L q O G] ip ° ~ b q ~ F°- O O q 0 ~ G b O u b b ~ c o e a ~ ~ O W c H o nd c"O a w m p y o `u p ~ n G ry O N N a G O a n R LL L a m u m ~ O1 c n q q O C ~ q ~ b ~ k h 0 F N= W O = 0 O N y ` E y o 0 m } C w w u y U C L LL m E ¢ v o E ~ u ~ O ~ v N ° Q y Gc' ' w ° . rn ~ m W ° E ~ a ¢ 3 w ¢ k W C O U h G J O b ~ ~ O N E G n d G ~ ° d l > o Q u o ~ m b q G a u k Q G c 0 E U d h h n a c ~ ~ m ¢ E m m V Q d q q a ~ v • ~ N ~ 0. ~ h y y t~ F c d ~ O O q o U O Q H G w ~ i? v a ~ U W U d ~ C a a ¢ • d n N a C J C L- y G 0 4 c z ai 0 a H .c O c a` v C T C 0 N n U a c J G Y O n a y .c `c CL` d O 2 0 m r 0 H O r q n • • California Redevelopment Agencies- Fiscal Year 200512006 Project Area Contributions to Low and Moderate Income Housing Fund Sch A Project Area Financial Information Agency ROSEMEAD RDA Address 8838 East Valley Blvd. Rosemead CA 91770 Project Area PROJECT AREA 1 - Type: Inside Project Area Status: Active Plan Adoption: 1972 Plan Expiration Year: 2013 Gross Tax Calculated Amount Amount Amount Increment Deposit Allocated Exempted Deterred $4,908,757 $981,751 $989,417. $0 $0 Repayment Category Interest Income Other Revenue Rental/Lease Income Total Additional Revenue Total Housing Fund Deposits for Project Area Total % Cumulative Deposited Def. $989,417 20.16% $4,947,087 $0 $136 $300 $406,200 $406,636 $1,396,053 Agency Totals For All Project Areas: Gross Tax Calculated Amount Amount Amount Total % Cumulative Increment Deposit Allocated Exempted Deferred Deposited Def. $4,908,757 $981,751.4 $989,417 $0 $0 $989,417 20% $4,947,087 Total Additional Revenue from Project Areas $406,636 Total Deferral Repayments. $0 Total Deposit to Housing Fund from Project Areas. $1,396,053 Page 1 of 1 01118107 • ATTACHMENT C • FY 2005-06 Rosemead Community Development commission HEALTH AND SAFETY CODE §33080.1 o ALLEVIATION OF BLIGHT o LOAN DEFAULT REPORT o PROPERTYLISTING I HEALTH AND SAFET)'CODE 13300. 1(d) ALLEVIATION OF BLIGHT For FY 2005-06, the Rosemead Community Development Commission demonstrated its desire to alleviate blight within Project Area 1 and Project Area 2 by the following actions: 1. The approved Rosemead Community Development Commission's Five Year Implementation Plan (2005-2009) indicates that there are blighted conditions within the Project Areas and provides the Commission's goals and objectives to address these areas. 2. The Commission focused on funding capital improvement projects for both Project Areas. The following is a list of Community Development Commission funded capital improvement projects that were either completed or in progress during FY 2005-06. Project FY 05-06 Cost Reconstruction of Helltnan $240,000 Avenue Bridge over the Alhambra - Wash Street Improvements on San $130,000 Gabriel Boulevard (Hellman/Graves) Traffic Signal Installation at $255,000 Hellman Avenue/Westbound I-10 Walnut Grove Off-Ramp Traffic Signal Controller $170,000 Upgrades Citywide. Virginia Street Improvements $3,000 Traffic Signal Installation at Del $18,000 Mar/Highcliff Traffic Signal Installation at $18,000 Graves/Jackson Traffic Signal Modification at $8;500 Graves/Jackson Total $842,500 In addition, the Commission also sold approximately $14 million in tax exempt bonds in March 2006 to fund these and future capital improvement projects. • • 3. The Commission operates a commercial rehabilitation program that is funded both with Community Development Block Grant funds and tax increment funds. This program is implemented on a citywide basis not just in the Project Areas. Since the inception of this program, the Commission has provided rehabilitation assistance totaling over $450,000 to businesses within the City. 4. The Commission continues to pursue a variety of business attraction activities. The Commission has sent representatives to the International Convention of Shopping Centers (ICSC) to promote business sites within the City and Project Areas. The Commission has also assisted businesses and retailers in processing plans within the City and analyzing market needs. 5. A First-Time Homeowner Purchase Program is operated by the Rosemead Housing Development Corporation (the "RHDC") using Housing Set-Aside funds. Financial assistance is made available in the form of deferred payment and low-interest loans for the purchase of single-family homes or condominium units. The loan funds are used to cover the difference between the purchase price of a home and the sales price that would be affordable to the purchaser. The loans are used to provide down payment assistance for household qualifying under guidelines that have been established by the RHDC. While no loans were issued during FY 2005-06, the Commission has and continues to receive significant interest in the program from prospective Rosemead residents. • • 11 HEAL THAND SAFETY CODE ~33050.1(e) REPORT ONALL LOANS IN DEFAULT The Rosemead Community Development Commission has no loans in excess of $50;000 that are in default from the previous fiscal year or that are not in compliance with the terms of any loan approved by the Commission. i Ill HFALTHANDSAFETYCODE~33080.1O PROPERTY LISTING The Rosemead Community Development Commission owns one parcel of land in Project Area 2. The Commission did not acquire any new property during FY 2005-06. Pro e_ „ rty List: APN Address City, State Current Use T 8577-009-902 4016 Temple City Boulevard Rosemead, CA Vacant lot