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HomeMy WebLinkAbout04. CDC Financial StatementsAPPROVED BY EXEC. DIRECTOR RECOMMENDATION Receive and file. AGENDA MEMO TO: Chairman and Members of the Community Development Commission FROM: Office of the Executive Director By: John Michicoff, Director of Finance ' DATE: January 12 SUBJECT: FINANCIAL STATEMENTS AND STATE CONTROLLER'S REPORT FOR FISCAL YEAR ENDED JUNE 30, 2009 DISCUSSION Attached are the Financial Statements, Redevelopment Agencies Financial Transactions Report (including the Statement of Indebtedness) and the HCD Annual Report of Housing Activities for the Downey Community Development Commission for the Fiscal Year 2009. Pursuant to the Health & Safety Code, the Cornmission must be presented this annual status report within six months of the end of the Commission's fiscal year. In order to meet that timeline, the Chairman and Members of the Commission were submitted the annual status report on December 31, 2009. The annual status report is now being placed upon the Commission's agenda to allow the public an opportunity to review this report. The Financial Statements were prepared by the City's Finance Department with the assistance of the City's independent auditors. The auditors conducted an audit of this information and their report is attached. Also included therein is an "unqualified" opinion from the auditors. This basically means that the operations, internal control environment and transactions reported by the City's Finance Department are correct. The auditors also completed a compliance opinion report in accordance with State laws and regulations issued by the State Controller's Office. This report is shown on pages 32 and 33 of the Financial Statements and also reflects that proper internal controls were employed by the Finance Department and yielded no deficiencies in those controls. The annual Financial Transactions Report is one of many the City must prepare and send to the State Controller. However, this is the only report requiring Commission action. FISCAL IMPACT There is no fiscal impact to receive and file this report. S:Wgenda Memos CC 2010 \01 -12 -10 \CDC Financial Stmts.doc CITY OF DOWNEY, CALIFORNIA Date: To: City of Downey Inter - office Memorandum December 31, 2009 Chairman and Members of the Downey Community Development Commission From: Office of the Executive Director By: John Michicoff, Director of Finance If you have any questions, feel free to contact me. H:\FINANCE\JMichicoff\RDA Report Transmittal Memo.doc Subject: Annual Redevelopment Agency Financial Status Report Pursuant to Section 33080.01, every redevelopment agency shall present an annual financial status report to its legislative body within six months of the end of the agency's fiscal year. Since the Agency's (or Commission) fiscal year ended June 30, 2009, the report must be presented on or before December 31, 2009. Because the report was not completed until after December 15 (the only Commission meeting held in December), the report is hereby presented for your consideration. I n order to give the public an opportunity to review the report, it will also be presented to the Commission on the January 12, 2010, agenda. The status report is comprised of three elements: An independent financial audit report; the financial transactions report; and the HCD annual report for housing activities. Each of these elements sets forth a different aspect of the Commission's annual activity. This report is one of many the City must prepare and send to the State Controller. Although the other reports follow their own specific filing deadlines, this report was submitted to the Controller before December 31, 2009. - 7 , COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY COMPONENT UNIT FINANCIAL STATEMENTS WITH REPORT ON AUDIT BY INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS JUNE 30, 2009 1 COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY TABLE OF CONTENTS June 30, 2009 Page Number Independent Auditors' Report 1 - 2 Management's Discussion and Analysis 3 - 8 Basic Financial Statements: Statement of Net Assets 9 Statement of Activities 10 Balance Sheet - Governmental Funds 11 - 12 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Assets 13 Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds 14 - 15 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities 16 Notes to Basic Financial Statements 17 - 30 Supplementary Information: Computation of Low and Moderate Income Housing Capital Projects Fund - Excess Surplus 31 Independent Auditors' Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditiing Standards 32 -33 1 A PARTNERSHIP INCLUDING ACCOUNTANCY CORPORATIONS 5 CORPORATE PARK, SUITE 100 IRVINE, CALIFORNIA 92606 -5165 (949) 399 -0600 • FAX (949) 399 -0610 www.diehlevans.com Commission Members Community Development Commission of the City of Downey Downey, California We have audited the accompanying financial statements of the governmental activities and each major fund of the Community Development Commission of the City of Downey (a component unit of the City of Downey, California), as of and for the year ended June 30, 2009, which collectively comprise the Commission's basic financial statements, as listed in the table of contents. These basic financial statements are the responsibility of the Commission's management. Our responsibility is to - express opinions on these basic financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the basic financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall basic financial statement presentation. We believe that our audit provides a reasonable basis for our opinions. In our opinion, the basic financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of the Community Development Commission of the City of Downey as of June 30, 2009; and the respective changes in financial position thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America. OTHER OFFICES AT: DIEHL, EVANS & COMPANY, LLP lb) CERTIFIED PUBLIC ACCOUNTANTS & CONSULTANTS December 4, 2009 INDEPENDENT AUDITORS' REPORT - 1 - 2965 ROOSEVELT STREET CARLSBAD, CALIFORNIA 92008 -2389 (760) 729 -2343 • FAX (760) 729 -2234 MICHAEL R. LUDIN, CPA CRAIG W. SPRAKER. CPA NITIN P. PATEL. CPA ROBERT J.CALLANAN.CPA *PHILIP H. HOLTKAMP, CPA `THOMAS M PERLOWSKL CPA *HARVEY I.SCHROEDER.CPA KENNETH R. AMES, CPA `WILLIAM C. PENTZ, CPA .A PROFESSIONAL CORPORATION 613 W. VALLEY PARKWAY, SUITE 330 ESCONDIDO, CALIFORNIA 92025 -2598 (760) 741 -3141 • FAX (760) 741 -9890 In accordance with Government Auditing Standards, we have also issued our report dated December 4, 2009 on our consideration of the Community Development Commission of the City of Downey's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements and other matters The purpose of that report is to describe the scope of our testing to 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 considered in assessing the results of our audit. The information identified in the accompanying table of contents as management's discussion and analysis is not a required part of the basic financial statements, but is supplementary information required by accounting principles generally accepted in the United States of America. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentation of the supplementary information. However, we did not audit the information and express no opinion on it. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Community Development Commission of the City of Downey's basic financial statements. The computation of the excess surplus of the Low and Moderate Income Housing Capital Projects Fund is presented for additional analysis and is not a required part of the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole. 09 ,_ '' 12 cs, 2 COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY MANAGEMENT'S DISCUSSION AND ANALYSIS FINANCIAL HIGHLIGHTS Government Wide As management of the Community Development Commission of the City of Downey, we offer readers of the Commission's basic financial statements this narrative overview and analysis of the financial activities of the Commission for the fiscal year ended June 30, 2009. It is encouraged that the readers consider the information presented here in conjunction with additional information that has been furnished in the accompanying basic financial statements. Fund Based June 30, 2009 The liabilities of the Commission exceeded its assets at the close the current fiscal year by $10.5 million. Of this amount $32.7 million represents non - current liabilities incurred for land acquisition, administration expenses and project costs of the redevelopment plan. • Net assets of the Commission decreased by $205,255. The net assets generated by the Low and Moderate Housing .activity created an increase in net assets of $453,587. However, the community development expenses and interest on long term debt exceeded the general revenue (tax revenue, investment income and other) by $658,842. Total revenue from all sources were $5,930,259, of which, $4,575,966 (77 %) was from Tax Increment. • For the current fiscal year, unreserved and undesignated fund balance for the Commission had a fund balance of $1,398,455. OVERVIEW OF THE BASIC FINANCIAL STATEMENTS This discussion and analysis are intended to serve as an introduction to the Commission's basic financial statements. The Commission's basic financial statements are comprised of three components: 1) government -wide financial statements, 2) fund financial statements, and 3) notes to basic financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves, See independent auditors' report. - 3 COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY MANAGEMENT'S DISCUSSION AND ANALYSIS — (CONTINLTED) June 30, 2009 OVERVIEW OF THE BASIC FINANCIAL STATEMENTS (CONTINUED) Government -wide financial statements. The government -wide financial statements are comprised of the Statement of Net Assets and Statement of Activities. These two statements are designed to provide the reader with a broad overview of the Commission's finances utilizing the full accrual method of accounting, in a manner similar to a private- sector business. Under the full accrual method of accounting, transactions are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, assets, liabilities, revenues and expenses are reported in these statements for some items that will only result in cash flows in future fiscal periods (i.e., uncollected revenues and accrued but unpaid interest expense). The Statement of Net Assets presents information, on all of the Commission's assets and liabilities, including capital assets and long -term liabilities, with the difference between the two reported as net assets. Over time, increases or decreases in net assets may serve as a useful indicator of whether the financial position of the Commission as a whole is improving or deteriorating. The Statement of Activities presents information showing how the Commission's net assets changed during the most recent fiscal year. Functional activities are highlighted in this statement, whereby direct and indirect functional costs are shown net of related program revenue. This statement shows the extent to which the various functions depend on general taxes and non- program revenues for support. The government -wide financial statements distinguish functions of the Commission that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that intended to recover all or a significant portion of their costs through user fees and charges (business - type activities). The governmental activities of the Commission included Low and Moderate Income Housing, . Community Development and Debt Service. The Commission does not have business -type activities. The City Council members serve as Executive Board of the Commission. The Downey Community Development Commission is a component unit of the City of Downey, and no City information has been included in the government -wide financial statements. Fund financial statements. The statements focus on current available resources and are organized and operated on the basis of funds. A fund is a self balancing group of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives in accordance with special regulations, restrictions or limitations. See independent auditors' report. 4 Fund fmancial statements (Continued). COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY MANAGEMENT'S DISCUSSION AND ANALYSIS (CONTINUED) June 30, 2009 OVERVIEW OF THE BASIC FINANCIAL STATEMENTS (CONTINUED) Governmental funds. Governmental funds are used to account for essentially the same functions reported as governmental activities in the government -wide financial statements. However, unlike government -wide financial statements, governmental fund financial statements focus on near -term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government's near -term financing requirements. Because the focus of the government funds is narrower than that of the government -wide financial statements, it is useful to compare the information presented for the governmental funds with similar information presented for governmental activities in the government -wide financial statements. By doing so, readers may better understand the long -term impact of the Commission's near -term financing decisions. A reconciliation to facilitate this comparison between governmental funds and governmental activities is provided for the Governmental Funds Balance Sheet and the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances. The Community Development Commission maintains five individual governmental funds. Information is presented separately in the Governmental Funds Balance Sheet and in the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances for the Downey Redevelopment Agency Area Debt Service Fund, the Woodruff Industrial Project Area Debt Service Fund, the Downey Redevelopment Agency Area Capital Projects Fund, the Woodruff Industrial Project Area Capital Projects Fund and the Low and Moderate Income Housing Capital Projects Fund all of which are considered to be major funds. The Commission adopts an annual appropriated budget for all funds as a management control technique to assist in controlling expenditures and enforcing revenue provisions. Budgetary comparisons are not considered meaningful and, accordingly, are not included herein. Notes to basic financial statements. The notes provide additional information that is essential to a full understanding of the data provided in the government -wide and fund financial statements. Other supplementary information. In addition to the basic financial statements and accompanying notes, this report also presents the computation of the Low and Moderate Income Housing Capital Projects Fund's excess /surplus balance. See independent auditors' report. 5 COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY MANAGEMENT'S DISCUSSION AND ANALYSIS (CONTINUED) June 30, 2009 GOVERNMENT -WIDE FINANCIAL ANALYSIS As noted earlier, net assets (deficit) may serve over time as a useful indicator of a government's financial position. In the case of the Commission, liabilities exceeded assets by $10,488,640 at the close the current fiscal year. Since the Commission's primary source of revenue is from Property Taxes, debt (also referred to as Tax Increment Financing) is incurred to achieve the objectives of the redevelopment plans. The following summaries of net assets and change in net assets are presented for the current year as well as for the prior year for comparative purposes. By far, the largest portion of the Commission's net assets (deficit) is the non - current portion of long -term liabilities. As noted above, the Commission uses the proceeds from this debt to meet various objectives including, but not limited to, administration expenses, land acquisition and project costs. See independent auditors' report. GOVERNMENTAL ACTIVITIES NET ASSETS 2009 2008 Current assets $ 8,512,395 $ 6,328,506 Other assets 6,750,135 5,824,566 Land assets 6,456,627 6,546,627 Restricted assets 732.912 712.892 Total Assets 22,452.069 19.412.591 Current liabilities 523,792 290,848 Non - current liabilities 32,416.917 29.405.128 Total liabilities 32.940.709 29.695,976 Net assets (deficit) $ : (10A88.640) $ (10.283.385) Additional information on the Commission's current and non - current long -term activities is located in the notes to the financial statements. 6 COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY See independent auditors' report. MANAGEMENT'S DISCUSSION AND ANALYSIS _ (CONTINUED) GOVERNMENT -WIDE FINANCIAL ANALYSIS (CONTINUED) Expenses Primary government activities: Low/Moderate Housing Community development Interest on long term debt Total expenses Increase (decrease) in net assets June 30, 2009 GOVERNMENTAL ACTIVITIES CHANGE IN NET ASSETS Revenues Program revenues: Operating grants and contributions General revenues: Tax increment Investment income Other revenues Total revenues 7 2009 $ 864,768 FINANCIAL ANALYSIS OF THE GOVERNMENT'S FUNDS 4,575,966 469,676 19.849 5,930,259 411,181 3,229,409 2,494,924 6,135,514 2008 $ 741,385 3,830,615 394,024 51,009 5,017,033 582,163 2,237,508 2,328,626 5,148.297 $ (205.255) $ (131.264) Governmental funds. The focus of the Commission's governmental funds is to provide information on near -term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the Commission's financing requirements. In particular, unreserved - undesignated fund balance may serve as a useful measure of a government's net resources available for spending at the _end of the fiscal year. As of the end of the current fiscal year, the Commission's governmental funds reported total ending fund balances of $16,345,878. Of this total, $1, 398;455 constitutes unreserved - undesignated fund balances which are considered available for appropriation. The remainder of fund balance is reserved to indicate that it is not available for new spending because it has already been committed: 1) to liquidate contracts and purchase orders of the prior period ($91,953), 2) to pay low and moderate housing activities ($3,989,041), 3) to pay debt service ($4,319,802), and 4) to offset non - current financial resources (land held for resale) that are not anticipated to liquidated in the near term ($6,456,627). COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY MANAGEMENT'S DISCUSSION AND ANALYSIS (CONTINUED) June 30, 2009 CAPITAL ASSETS AND DEBT ADMINISTRATION Capital Assets. The Commission does not own any capital assets. ECONOMIC FACTORS AND NEXT YEAR'S BUDGETS AND RATES Long -Term Debt. At year -end, the Commission had $32,416,917 in long -term debt, up from $29,405,128 in fiscal year 2008, for an increase of $3,011,789. The increase is primarily the net effect of additional deferrals and accrued interest from the County of Los Angeles ($1,821,789), the payment of principal on the Refunding Tax Allocation Bonds ($225,000), and the additional advances from the City ($1,650,000). More detailed information about the Commission's long -term debt is presented in the Note 6 of Notes to Basic Financial Statements. The Commission's fiscal year 2010 budget is $10,206,517, an increase of $160,744 (1.6 %) from fiscal year 2009 budget. The increase is primarily attributed to the Housing project funded by Federal Economic Stimulus Packet from American Recovery and Reinvestment Act (ARRA). The Commission's fiscal year 2010 budget includes appropriations for on -going economic development and housing programs, capital projects, and a potential property acquisition program. REQUESTS FOR INFORMATION This financial report is designated to provide a general overview of the Community Development Commission of the City of Downey's finances for all those with an interest in the Commission's finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to the Director of Finance, Community Development Commission of the City of Downey, 11111 Brookshire Avenue, Downey, California 90241 -0607. See independent auditors' report. 8 BASIC FINANCIAL STATEMENTS COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY STATEMENT OF NET ASSETS June 30, 2009 Governmental Activities ASSETS: Cash and investments (Note 2) $ 6,954,736 Receivables: Accounts 138,388 Taxes 930,390 Interest 240,251 Due from other entities 248,630 Loans receivable (Note 3) 5,702,395 Notes receivable (Note 4) 1,047,740 Land held for resale (Note 5) 6,456,627 Restricted assets (Note 2): Cash and investments 69,480 Cash and investments with fiscal agent 663,432 TOTAL ASSETS 22,452,069 LIABIL!'1'1ES: Accounts payable and accrued liabilities 115,611 Interest payable 168,031 Deposits 5,150 Noncurrent liabilities (Note 6): Due within one year 235,000 Due in more than one year 32,416,917 TOTAL LIABILITIES 32,940,709 NET ASSETS: Unrestricted net assets (deficit) $ (10,488,640) See independent auditors' report and notes to basic financial statements. - 9 - COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY STATEMENT OF ACTIVITIES For the year ended June 30, 2009 Net (Expense) Revenue and Changes in Program Revenues Net Assets Operating Capital Charges for Grants and Grants and Governmental Functions/Programs Expenses Services Contributions Contributions Activities PRIMARY GOVERNMENT: Governmental activities: Low/Moderate housing $ 411,181 $ - $ 864,768 $ $ 453,587 Community development 3,229,409 - - - (3,229,409) Interest on long-term debt 2,494,924 - - (2,494,924) Total governmental activities $ 6,135,514 $ $ 864,768 $ - (5,270,746) GENERAL REVENUES: Taxes: Tax increment 4,575,966 Investment income 469,676 Other 19,849 Total general revenues 5,065,491 CHANGE IN NET ASSETS (205,255) NET ASSETS (DEFICIT) AT BEGINNING OF YEAR (10,283,385) NET ASSETS (DEFICIT) AT END OF YEAR $ (10,488,640) See independent auditors' report and notes to basic financial statements. - 10 - Cash and investments Receivables: Accounts Taxes Interest Due from other entities Loans receivable Notes receivable Land held for resale Restricted assets: Cash and investments Cash with fiscal agents TOTAL ASSETS LIABILITIES: Accounts payable and accrued liabilities Deposits Deferred revenue TOTAL LIABILITIES FUND BALANCES: Reserved for: Encumbrances Low /moderate housing Debt service Land held for resale Unreserved - undesignated TOTAL FUND BALANCES ASSETS LIABILITIES AND FUND BALANCES TOTAL LIABJLmES AND FUND BALANCES COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY BALANCE SHEET - GOVERNMENTAL FUNDS June 30, 2009 See independent auditors' report and notes to basic financial statements. - 11 - Debt Service Funds Downey Woodruff Redevelopment Industrial Project Area Project Area $ 2,273,754 $ 474,901 755,980 132,954 15,525 3,256 663,432 $ 3,708,691 $ 611,111 3,708,691 611,111 3,708,691 611,111 $ 3,708,691 $ 611,111 Downey Redevelopment Project Area $ 1,294,486 $ 138,534 138,388 7,254 2,858,295 $ 89,045 $ 2,500 91,545 91,203 2,858,295 1,257,380 -4,206,878 $ 4,298,423 Capital Projects Funds Woodruff Industrial Project Area 2,541 141,075 141,075 141,075 Low and Moderate Income Housing $ 2,773,061 41,456 18,640 248,630 5,702,395 1,047,740 3,598,332 69,480 $ 26,566 2,650 5,792,395 5,821,611 750 3,989,041 3,688,332 Total Governmental Funds $ 6,954,736 138,388 930,390 47,216 248,630 5,702,395 1,047,740 6,456,627 69,480 663,432 $ 4,298,423 $ 141,075 $ 13,499,734 $ 22,259,034 $ 115,611 5,150 5,792,395 5,913,156 91,953 3,989,041 4,319,802 6,546,627 1,398,455 7,678,123 16,345,878 $ 13,499,734 $ 22,259,034 ■ COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO THE STATEMENT OF NET ASSETS June 30, 2009 Amounts reported for governmental activities in the Statement of Net Assets are different because: See independent auditors' report and notes to basic financial statements. - 13 - Fund balances for governmental funds $ 16,345,878 Long -term receivables are not available to pay for current -period expenditures and accordingly are deferred in the governmental funds. 5,792,395 Long -term liabilities applicable to the Agency's governmental activities are not due and payable in the current period and accordingly are not reported as fund liabilities. All liabilities, both current and long -term, are reported in the Statement of Net Assets: Tax allocation bonds payable $ (7,910,000) Loans from County of Los Angeles (13,495,347) Advances from City of Downey (11,246,570) (32,651,917) Accrued liabilities in the Statement of Net Assets differ from the amounts reported in governmental funds due to accrued interest on the tax allocation bonds payable. (168,031) Interest receivable, not considered to be available to finance current expenditures, is not reported in the governmental funds. For the Statement of Net Assets, this amount is accrued. 193,035 Net assets (deficit) of governmental activities $ (10,488,640) TOTAL REVENUES EXPENDITURES: Current: Low/Moderate housing COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - GOVERNMENTAL FUND TYPES For the year ended June 30, 2009 See independent auditors' report and notes to basic financial statements. - 14 - Debt Service Funds Downey Woodruff Redevelopment Industrial Project Area Project Area REVENUES: Taxes $ 2,837,552 $ 796,568 Investment income 117,265 20,424 Intergovernmental revenue - - Other revenues 19,291 2,974,108 816,992 Community development - 513,694 Pass- throughs payments 978,471 Debt service: Principal retirement 225,000 Interest and fiscal charges 1,407,714 219,000 TOTAL EXPENDITURES 2,611,185 732,694 EXCESS OF REVENUES OVER (UNDER) EXPENDITURES 362,923 84,298 OTHER FINANCING SOURCES (USES): Proceeds from loans (Note 6) 2,282,204 317,062 Transfers in (Note 7) - Transfers out (Note 7) (1,500,000) (150,000) TOTAL OTHER FINANCING SOURCES (USES) 782,204 167,062 NET CHANGE IN FUND BALANCES 1,145,127 251,360 FUND BALANCES AT BEGINNING OF YEAR 2,563,564 359,751 FUND BALANCES AT END OF YEAR $ 3,708,691 $ 611,111 Downey Redevelopment Project Area $ $ 57,869 558 1,503,961 1,500,000 54,466 4,152,412 $ 4,206,878 Capital Projects Funds Woodruff Industrial Project Area 13,071 233,283 1,503,961 (1,445,534) 1,500,000 150,000 233,283 (220,212) 150,000 (70,212) 211,287 $ 141,075 Low and Moderate Income Housing $ 941,846 242,242 873,135 219,961 58,427 13,071 2,277,184 1,568,198 1,568,198 708,986 708,986 6,969,137 $ 7,678,123 Total Governmental Funds $ 4,575,966 450,871 873,135 239,810 6,139,782 1,568,198 2,250,938 978,471 225,000 1;626,714 6,649,321 (509,539) 2,599,266 1,650,000 (1,650,000) 2,599,266 2,089,727 14,256,151 $ 16,345,878 COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY 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, 2009 Net change in fund balances - total governmental funds $ 2,089,727 Amounts reported for governmental activities in the Statement of Activities are different because: Some revenues reported in the Statement of Activities are not considered to be available to finance current expenditures and therefore are not reported as revenues in the governmental funds: Accrued interest Repayments on long -term receivables provide current financial resources to governmental funds, while the loans provided consumes the current financial resources of governmental funds. These transactions, however, have no effect on net assets: Note issued $ 90,000 Loans issued 1,067,017 Loan payoffs (228,328) The issuance of long -term debt provides current financial resources to governmental funds, while the repayment of the principal of long -term debt consumes the current financial resources of governmental funds. Neither transaction, however, has any effect on net assets. Debt issued or incurred: Proceeds from loans from County of Los Angeles $ (949,266) Advances from City of Downey (1,650,000) Accrued interest expense added to loans from County of Los Angeles (872,523) Principal payments 225,000 Some expenses reported in the Statement of Activities do not require the use of current financial resources and therefore are not reported as expenditures in the governmental funds: Accrued interest See independent auditors' report and notes to basic financial statements. - 16 - 18,805 928,689 (3,246,789) 4,313 Change in net assets of governmental activities $ (205,255) NOTES TO BASIC FINANCIAL STATEMENTS - 7 NOTES TO BASIC FINANCIAL STATEMENTS June 30, 2009 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: History and Organization: COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY In 1975, the City of Downey formed the "Community Development Commission of the City of Downey", which is referred to in this report as the Commission. The original Downey Redevelopment Plan was adopted in 1978 and has been modified on five different occasions. In 1979, Amendment No. 1 to the Downey Redevelopment Plan was made to increase the specific uses permitted in the original plan. In 1980, Amendment No. 2 to the Redevelopment Plan was adopted to add a small area of land, approximately one square City block, to the Redevelopment Plan. In 1984, Amendment No. 3 was adopted to significantly increase the area of land within the Downey Redevelopment Plan. After the adoption of Amendment No. 3, a group of citizens (the plaintiffs) filed a lawsuit in Los Angeles Superior Court seeking to overturn the adoption of Amendment No. 3. The court ruled in favor of the plaintiffs and Amendment No. 3 was nullified. In 1987, Amendment No. 4 was adopted to also significantly increase the area of land within the Redevelopment Plan and to make contiguous all areas adopted with the original plan and Amendment No. 2. Also in 1987, the Commission adopted the Woodruff Industrial Project Plan, located in the eastern area of the City. In 1991, Amendments 5A and 5C were adopted to increase the land within the Redevelopment Plan. Amendment 5A added approximately 14 acres of land and Amendment 5C added approximately 15 acres of land. In 1994, Amendments were adopted to both the Downey Redevelopment Project Plan and the Woodruff Industrial Project Plan which imposed statutory time limits pursuant to Health and Safety Code Section 33333.6, which applies to existing plans adopted prior to January 1, 1994. The objectives of the redevelopment plans are the elimination and prevention of blight, the improvement and/or construction of public facilities, roads and other public improvements, and the attraction and facilitation of new developments within the project areas for purposes of increasing the City of Downey's residential, commercial and industrial resources. See independent auditors' report. -17- History and (Continued): Government -wide Financial Statements: See independent auditors' report. COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY NOTES TO BASIC FINANCIAL STATEMENTS (CONTINUED) 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED): • Government -wide financial statements • Fund financial statements • Notes to basic financial statements June 30, 2009 - 18 - The Community Development Commission of the City of Downey is a component unit of the reporting entity of the City of Downey, California. City Council members serve as the Executive Board of the Commission. The funds and account groups of the Commission have been included within the scope of the Comprehensive Annual Financial Report of the City of Downey. Measurement Focus, Basis of Accounting and Financial Statement Presentation: The basic financial statements of the Commission are composed of the following: Financial reporting for the government -wide financial statements is based upon all Governmental Accounting Standards Board (GASB) pronouncements, as well as the Financial Accounting Standards Board (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 pronouncements. The government -wide financial statements (i.e., the statement of net assets and the statement of activities) report information on all - of the activities of the Commission. For the most part, the effect of interfund activity has been removed from these statements. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business -type activities, which rely to a significant extent on fees and charges for support. The Community Development Commission of the City of Downey has no business -type activities. The statement of activities - demonstrates the degree to which the direct expenses of a given function are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function. Program revenues include 1) charges to customers who purchase, use, or directly benefit from goods, services, or privileges provided by a given function and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function. Taxes and other items not properly included among program revenues are reported instead as general revenues. COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY NOTES TO BASIC FINANCIAL STATEMENTS (CONTINUED) June 30, 2009 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED): Measurement Focus, Basis of Accounting and Financial Statement Presentation (Continued): Fund Financial Statements: The accounting system of the Commission is organized and operated on the basis of separate funds, each of which is considered to be a separate accounting entity. Each fund is accounted for by providing a separate set of self - balancing accounts that constitute its assets, liabilities, fund equity, revenues, and expenditures. Governmental resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. Fund financial statements for the Commission's governmental funds are presented after the government -wide financial statements. These statements display information about major funds individually and nonmajor funds in the aggregate for governmental funds. The Commission has no nonmajor funds. The funds of the Commission, all of which are major funds are described below: Governmental Fund Types The Downey Redevelopment Proiect Area Debt Service Fund accounts for tax increment revenues, bond proceeds required to be set aside for future debt service and interest income related to the Downey Redevelopment Project Area. The Woodruff Industrial Proiect Area Debt Service Fund accounts for tax increment revenues, bond proceeds required to be set aside for future debt service and interest income related to the Woodruff Industrial Project Area. The Downey Redevelop ment Proiect Area Capital Proiects Fund accounts for the financial resources to be used for the administration of the Commission's redevelopment activities and the improvement of blighted areas within the Downey Redevelopment Project Area, except those resources required to be accounted for in another fund. The Woodruff Industrial Proiect Area Capital Proiects Fund accounts for the financial resources to be used for the administration of the Commission's redevelopment activities and the improvement of blighted areas within the Woodruff Industrial Project Area, except those resources required to be accounted for in another fund. See independent auditors' report. - 19 - 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED): Measurement Focus, Basis of Accounting and Financial Statement Presentation (Continued): Fund Financial Statements (Continued): The Low and Moderate Income Housing Canital Proiects Fund accounts for restricted financial resources to be used to increase the supply of available low- and moderate - income housing. Measurement Focus: COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY NOTES TO BASIC FINANCIAL STATEMENTS (CONTINUED) June 30, 2009 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. On 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. 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 current assets. Accordingly, they are said to present a summary of sources and uses of available spendable resources during a period. Noncurrent portions of long -term receivables due to governmental funds are reported on their balance sheets in spite of their measurement focus. However, special reporting treatments are used to indicate that they should not be considered "available spendable resources ", since they do not represent net current assets. Recognition of governmental fund type revenue represented by noncurrent receivables is deferred until they become current receivables. Noncurrent portions of other long -term receivables are offset by fund balance reserve accounts. Revenues, expenses, gains, losses, assets, and liabilities resulting from nonexchange transaction are recognized in accordance with the requirements of GASB Statement No. 33. See independent auditors' report. - 20 - COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY NOTES TO BASIC FINANCIAL STATEMENTS (CONTINUED) June 30, 2009 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED): Measurement Focus, Basis of Accounting and Financial Statement Presentation (Continued): Measurement Focus (Continued): Because of their spending measurement focus, expenditure recognition for governmental fund types excludes amounts represented by noncurrent liabilities. Since they do not affect net current assets, such long -term amounts are not recognized as governmental fund type expenditures or fund liabilities. Amounts expended to acquire capital assets • are recorded as expenditures in the year that resources were expended, rather than as fund assets. The proceeds of long -term debt are recorded as other financing sources rather than as a fund liability. Amounts paid to reduce long -term indebtedness are reported as fund expenditures. When both restricted and unrestricted resources are combined in a fund, expenses are considered to be paid first from restricted resources, and then from unrestricted resources. 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 asset used, regardless of the 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. 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. For this purpose, the government considers revenue to be available if they are collected within 60 days of the end of the current fiscal period. See independent auditors' report. -21- Budgetary Practices: Cash and Investments: Land Held for Resale: COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY NOTES TO BASIC FINANCIAL STATEMENTS (CONTINUED) June 30, 2009 - 22 - 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED): Measurement Focus, Basis of Accounting and Financial Statement Presentation (Continued): Basis of Accounting (Continued): Revenue recognition is subject to the measurable and availability criteria for the governmental funds in the fund financial statements. Exchange transactions are recognized as revenues in the period in which they are earned (i.e., the related goods or services are provided). Locally imposed derived tax revenues are recognized as revenues in the period in which the underlying exchange transaction upon which they are based takes place. Imposed nonexchange transactions are recognized as revenues in the period for which they were imposed. If the period of use is not specified, they are recognized as revenues when an enforceable legal claim to the revenues arises or when they are received, whichever occurs first. Government - mandated and voluntary nonexchange transactions are recognized as revenues when all applicable eligibility requirements have been met. The Commission adopts an annual budget and utilizes an encumbrance system for all fund types as a management control technique to assist in controlling expenditures and enforcing revenue provisions. The Commission Executive Director may transfer budget appropriations between major categories within a fund in conformance with the policies set by the Commission. Any changes or amendments affecting total appropriations of a fund must be approved by the Commission. The budgets of the Commission are primarily "long- term" in nature, and emphasize major programs extending over a number of years. Budget comparisons are not considered meaningful and, accordingly, are not included herein. The Commission's cash and investments are pooled with the City of Downey's cash and investments for investment purposes. Investments are stated at fair value (quoted market price or the best available estimate thereof). Land held for resale is carried in the capital projects fund at the lower of acquisition cost or estimated net realizable value. The land values are re- appraised on a periodic basis and any adjustments on the properties are shown in the capital projects fund statement of revenues, expenditures and changes in fund balance. See independent auditors' report. Deferred Revenue: Self- Insurance Program: COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY NOTES TO BASIC FINANCIAL STATEMENTS (CONTINUED) June 30, 2009 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED): Deferred revenue consists primarily of offsets to loans receivable, which are not currently available for expenditure. The Commission participates in the self - insurance program of the City of Downey. Information relating to the self-insurance program can be found in the notes to the basic financial statements of the City of Downey. Property Taxes and Tax Increment Financing: Use of Estimates: - 23 - The Commission's primary source of revenue comes from property taxes, referred to in the accompanying financial statements as "tax increment revenue ". The assessed valuation of all property within each project area was determined on the date of adoption of the Project Area. Except for certain amounts provided by specific agreement (see Note 6), property taxes related to the incremental increase in assessed values after the adoption of the Project Area have been allocated to. the Commission, while all property taxes on the "frozen" assessed valuation as of the adoption date have been allocated to the City and other districts. The Commission is required to set aside 20% of gross tax increment revenues allocated to it for the purpose of increasing, improving or preserving the community's supply of low- and moderate - income housing. The Commission accounts for these monies in the Low and Moderate Income Housing Capital Projects Fund. The entire fund balance of this fund is reported as a reservation. Property taxes attach as an enforceable lien on property as of January 1. Taxes are levied on July 1 and are payable in two installments on November 1 and February 1 and become delinquent on December 10 and April 10. The County bills and collects the property taxes and allocates installments to various jurisdictions throughout the year. The preparation of basic financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the basic financial statements and the reported amounts of revenues and expenditures during the reporting period. Actual results could differ from those estimates. See independent auditors' report. 2. CASH AND INVESTMENTS: Cash and Investments: Unrestricted assets: Cash and investments Restricted assets: Cash and investments Cash and investments with fiscal agent Authorized Investment Type U.S. Treasury Bills, Bonds and Notes U.S. Government Sponsored Enterprise Securities California Local Agency Obligations Certificates of Deposits (or Time Deposits) Negotiable Certificates of Deposits Medium -Term Corporate Notes Bankers' Acceptances Commercial Paper Repurchase Agreements Local Agency Bonds See independent auditors' report. COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY NOTES TO BASIC FINANCIAL STATEMENTS (CONTINUED) June 30, 2009 Cash and investments at June 30, 2009 are classified in the accompanying financial statements as follows: Investments Authorized by the California Government Code and the Commission's Investment Policy: The table below identifies the investment types that are authorized for the Commission by the California Government Code (or the Commission's investment policy, where more restrictive). The table also identifies certain provisions of the California Government Code (or the Commission's investment policy, where more restrictive) that address interest rate risk, credit risk, and concentration of credit risk. This table does not address investments of debt proceeds held by bond trustee that are governed by the provisions of debt agreements of the Commission, rather than the general provisions of the California Government Code or the Commission's investment policy. - 24 - Maximum Maturity 5 years 5 years 5 years 5 years 5 years 5 years 180 days 270 days 30 days 5 years 6,954,736 69,480 663.432 $ 7.687.648 Maximum Percentage Allowed None None None None 30% 30% 20% 15% None None Maximum Investment in One Issuer None None None None None None 10% 10% None None 2. CASH AND INVESTMENTS (CONTINUED): Disclosures Relating to Interest Rate Risk: Disclosures Relating to Credit Risk: See independent auditors' report. COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY NOTES TO BASIC FINANCIAL STATEMENTS (CONTINUED) June 30, 2009 Investments Authorized by Debt Agreements: - 25 - Investment of debt proceeds held by bond trustee are govemed by provisions of the debt agreements, rather than the general provisions of the California Government Code or the Commission's investment policy. Investments authorized for funds held by bond trustee include, U.S. Treasury Obligations, U.S. Government Sponsored Enterprise Securities, Certificates of Deposits, Commercial Paper, Local Agency Bonds, Bankers' Acceptances, Money Market Mutual Funds, Investment Contracts and any other investments permitted by bond insurer. There were no limitations on the maximum amount that can be invested in one issuer, maximum percentage allowed or the maximum maturity of an investment, except for the maturity of Banker's Acceptance and Certificates of Deposits which are limited to one year and 270 days, respectively. Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates. One of the ways that the Commission manages its exposure to interest rate risk is by purchasing a combination of shorter term and longer term investments and by timing cash flows from maturities so that a portion of the portfolio is maturing or coming close to maturity evenly over time as necessary to provide the cash flow and liquidity needed for operations. Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. The Commission's investments held by bond trustee consist of money market mutual funds in the amount of $20,182, which is rated AAA by Standard and Poor's and an investment agreement of $643,250, which is unrated. Custodial Credit Risk: 3. LOANS RECEIVABLE: See independent auditors' report. COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY NOTES TO BASIC FINANCIAL STATEMENTS (CONTINUED) 2. CASH AND INVESTMENTS (CONTINUED): June 30, 2009 Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty (e.g., broker - dealer) to a transaction, a government will not be able to recover the value of its investment or .collateral securities that are in the possession of another party. The California Government Code and the Commission's investment policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for deposits or investments, other than the following provision for deposits: The California Government Code requires that a financial institution secure deposits made by state or local governmental units by pledging securities in an undivided collateral pool held by a depository regulated under state law (unless so waived by the governmental unit). The market value of the pledged securities in the collateral pool must equal at least 110% of the total amount deposited by the public agencies. California law also allows financial institutions to secure the Commission deposits by pledging first trust deed mortgage notes having a value of 150% of the secured public deposits. Disclosures Related to Interest Rate Risk, Credit Risk and Custodial Credit Risk: The Commission's cash and investments are pooled with the City of Downey's cash and investments. Additional disclosures regarding $6,954,736 pooled investments related to interest rate risk, credit risk and custodial credit risk are available in the City of Downey's Comprehensive Annual Financial Report. The Commission's Low and Moderate Income Housing Fund makes rehabilitation loans to eligible residents. These loans are recorded as project expenditures when made and repayments are recorded as revenue when received. These loans are funded by the Commission's Low and Moderate Income Housing Set -Aside Funds and monies received under the federal government's HOME program. The Commission's Low and Moderate Income Housing Fund also makes mortgage loans to eligible residents through the First Time Home Buyer program. These loans are also funded by monies from the federal government's HOME program. These loans are recorded as a receivable, with an offsetting deferred revenue amount. The outstanding balance of these loans at June 30, 2009 was $5,702,395. -26- 4. NOTES RECEIVABLE: COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY NOTES TO BASIC FINANCIAL STATEMENTS (CONTINUED) June 30, 2009 On July 13, 1999, the Commission sold land to the Los Angeles Community Design Center. The Commission received a promissory note for the full consideration of $400,000. The note accrues interest at 5% per annum with the principal and all accrued interest due in 40 years. The property is to be used for the construction of a senior citizens' housing center. The Commission loaned the Center an additional $925,412 for certain predevelopment costs. The Commission received a non - interest bearing note from the Center for this loan, and it is also payable in 40 years. Payments on the loans are made as funds are available. As of June 30, 2009, the combined outstanding balance of the loans was $957,740. On May 15, 2009, the Commission sold land to Habitat for Humanity. The Commission received a promissory note for the full consideration of $90,000. The note is secured by a deed of trust. The note is a zero interest note and matures on May 15, 2024. The note will be forgiven upon sale of the property to a qualified low- income household. The note receivable is offset by an equal deferred revenue amount. As of June 30, 2009, the outstanding balance of the loan was $90,000. 5. LAND HELD FOR RESALE: The Commission owns properties located in the Downey Redevelopment Plan project area, with a book value of $6,456,627, which the Commission expects to sell to developers. 6. LONG -TERM LIABILITIES: A summary of changes in long -term liabilities for the year ended June 30, 2009 is as follows: 1997 Tax Allocation Bonds $ 8,135,000 $ - $ (225,000) $ 7,910,000 $ 235,000 Loans from County of Los Angeles 11,673,558 1,821,789 13,495,347 Advances from the City of Downey 9,596.570 1.650.000 - 11.246,570 Totals $ 29.405.128 $ 3.471.789 $(225.000) $ 32.651.917 $ 235.000 See independent auditors' report. Balance at Balance at Due within July 1.2008 Additions Deletions June 30.2009 One Year -27- 6. LONG -TERM LIABILITIES (CONTINUED): Bonds Payable: On September 17, 1997, the Commission issued Refunding Tax Allocation Bonds in the amount of $9,925,000. The purpose of the bonds was to defease the 1990 Bonds, which had an outstanding balance of $4,470,000, and to repay $4,585,000 of principal and interest on loans made by the City to the Commission. The interest rate on the bonds, which mature serially beginning August 1, 1998, ranges from 4.2% to 5.125% and is payable semiannually on February 1 and August 1. These bonds are payable from, and are secured by the tax revenues of the Commission. As of June 30, 2009, the 1990 bonds have been fully paid. Changes in the balance of the bonds payable June 30, 2009 were as follows: Balance, July 1, 2008 $ 8,135,000 Payments (225.000) Balance, June 30,. 2009 $ 7.910.000 The future debt service requirements on these bonds are as follows: Year Ending June 30, 2010 2011 2012 2013 2014 2015 - 2019 2020 - 2024 2025 - 2029 Principal $ 235,000 250,000 260,000 275,000 290,000 1,680,000 2,155,000 2.765.000 Loans From County of Los Angeles: COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY NOTES TO BASIC FINANCIAL STATEMENTS (CONTINUED) June 30, 2009 Interest $ 397,694 385,987 373,363 359,988 345,681 1,484,200 995,403 368.360 $ 7.910.000 $ 4.710.676 The Commission and County of Los Angeles have entered into a tax increment pass - through deferral agreement. This agreement specifies that the Commission will defer the payment of all current tax increment pass - through due to the County, until some future date, when certain conditions are met. Until that time, the County will charge 7% interest on the outstanding deferral amount. During the year pass - through agreement amounts owed to the County totaling $949,266 were deferred. Interest of $872,523 was also accrued during the year on the outstanding deferral amount still owing. The amount owed the County, including accrued interest, at June 30, 2009 was $13,495,347. See independent auditors' report. - 28 - Total $ 632,694 635,987 633,363 634,988 635,681 3,164,200 3,150,403 3,133360 $ 12.620.676 6. LONG -TERM LIABILITIES (CONTINUED): Advances From the City of Downey: See independent auditors' report. COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY NOTES TO BASIC FINANCIAL STATEMENTS (CONTINUED) June 30, 2009 The City has advanced monies to the Commission since its inception for administrative and project expenditures as required. The funds advanced are to be repaid with 12% per annum interest from future tax increment revenues or bond proceeds received by the Debt Service Funds when such funds are- available. As of June 30, 2009, outstanding City advances to the Commission amounted to $11,246,570. Interest accruing during the year on the note, loans and advances, totaled $1,218,264 and has been paid by the Commission during the year ended June 30, 2009. 7. INTERFUND TRANSFERS: Interfund transfers at June 30, 2009 consisted of the following: Transfer From Transfer To Amount Downey Redevelopment Project Downey Redevelopment Project Area Debt Service Fund Area Capital Projects Fund $ 1,500,000 Woodruff Industrial Project Woodruff Industrial Project Area Debt Service Fund Area Capital Projects Fund 150,000 Transfers from Debt Service Funds were made to Capital Projects Fund to provide funding for various capital projects. - 29 - $ 1.650.000 8. COMMITMENTS AND CONTINGENCIES: ERAF and SERAF Contingency: COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY NOTES TO BASIC FINANCIAL STATEMENTS (CONTINUED) June 30, 2009 Pursuant to AB 26 4x, a budget trailer bill, California redevelopment agencies will be required to make Supplemental Education Revenue Augmentation Fund (SERAF) contributions totaling $1.7 billion for the fiscal year 2009 -2010 and $350 million for the fiscal year 2010 -2011. Under AB 26 4x, agencies may borrow a portion of the required contributions from their low and moderate income housing fund. Alternatively, sponsoring governmental agencies (the cities or counties) may elect to pay the SERAF contributions on behalf of their redevelopment agencies. On October 20, 2009, the California Redevelopment Association filed a class action lawsuit on behalf of all California redevelopment agencies, challenging the SERAF obligations as unconstitutional. The Commission's estimated SERAF contributions under AB 26 4x are $1,423,825 for the fiscal year 2009 -2010 and $292,862 for the fiscal year 2010 -2011. It is the position of Commission officials that the SERAF contributions required by AB 26 4x are unconstitutional, and that the Commission is not obligated to make these contributions. However, if the class action lawsuit is unsuccessful, and if the Commission were required to make these SERAF contributions, Commission officials have estimated that the Commission would have sufficient funds to make the required contributions. See independent auditors' report. -30- SUPPLEMENTARY INFORMATION TOTAL SET -ASIDE FOR LAST FOUR YEARS Base limitation GREATER AMOUNT COMPUTED EXCESS SURPLUS - JULY 1, 2008 See independent auditors' report. COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY COMPUTATION OF LOW AND MODERATE INCOME HOUSING CAPITAL PROJECTS FUND - EXCESS SURPLUS July 1, 2008 OPENING FUND BALANCE - JULY 1, 2008 $ 6,969,137 LESS UNAVAILABLE AMOUNTS: Long -term notes receivable (960,860) Land held for resale (3,688,332) AVAILABLE LOW/MODERATE INCOME HOUSING FUND 2,319,945 LIMITATION (GREATER OF $1,000,000 OR FOUR YEARS SET - ASIDE): Set -aside for Last four years: 2007 - 2008 $ 769,327 2006 - 2007 772,735 2005 - 2006 698,216 2004 - 2005 694,923 - 31 - $ 2,935,201 $ 1,000,000 All Project Areas 2,935,201 DIEHL, EVANS & COMPANY, LLP H i ] CERTIFIED PUBLIC ACCOUNTANTS & CONSULTANTS A PARTNERSHIP INCLUDING ACCOUNTANCY CORPORATIONS 5 CORPORATE PARK, SUITE 100 IRVINE, CALIFORNIA 92606 -5165 (949) 399 -0600 • FAX (949) 399 -0610 www.diehlevans.com INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED 1N ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS The Board of Directors Community Development Commission of the City of Downey Downey, California Internal Control Over Financial Revortinlr December 4, 2009 MICHAEL R LUDIN, CPA CRAIG W. SPRAKER. CPA NITIN P. PATEL, CPA ROBERT 3.CALLANAN,CPA *PHILIP IL HOLTKAMP, CPA 'THOMAS M. PERLOWSIU. CPA *HARVEY 3.SCHROEDER,CPA KENNETH R AMES. CPA *WILLIAM C. PENTZ, CPA •A PROFESSIONAL CORPORATION We have audited the accompanying financial statements of the governmental activities and each major fund of the Community Development Commission of the City of Downey, California (the Commission) as of and for the year ended June 30, 2009, which collectively comprise the Community Development Commission of the City of Downey's basic financial statements and have issued our report thereon dated December 4, 2009. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards. issued by the Comptroller General of the United States. In planning and performing our audit, we considered the Commission's internal control over financial reporting as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Commission's internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Commission's internal control over financial reporting. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control such that there is a reasonable possibility that a material misstatement of the Commission's financial statements will not be prevented, or detected and corrected on a timely basis. OTHER OFFICES AT: - 32 - 2965 ROOSEVELT STREET CARLSBAD, CALIFORNIA 92008 -2389 (760) 729 -2343 • FAX (760) 729 -2234 613 W. VALLEY PARKWAY, SUITE 330 ESCONDIDO, CALIFORNIA 92025 -2598 (760) 741 -3141 • FAX (760) 741 -9890 Internal Control Over Financial Reporting (Continued) Our consideration of the internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be deficiencies, significant deficiencies or material weaknesses. We did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses, as defined above. Compliance and Other Matters As part of obtaining reasonable assurance about whether the financial statements of the Community Development Commission of the City of Downey are free of material misstatements, 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 included those provisions of laws and regulations identified in the Guidelines For Compliance Audits of California Redevelopment Agencies, issued by the State Controller and as interpreted in the Suggested Auditing Procedures for Accomplishing Compliance Audits of California Redevelopment Agencies. issued by the Governmental Accounting and Auditing Committee of the California Society of Certified Public Accountants. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. This report is intended solely for the information and use of the Commission Members and management of the Community Development Commission of the City of Downey and the State Controller's Office, Division of Accounting and Reporting and is not intended to be and should not be used by anyone other than these specific parties. , arr (X)Dei° Fiscal Year: itted by: Signature REDEVELOPMENT AGENCIES FINANCIAL TRANSACTIONS REPORT Downey Community Development Commission MAGI MINA /-EE Name (Please Print) 2009 To file electronically: 1. Complete all forms as necessary. 2. Transmit the completed output file using a File Transfer Protocol (FTP) program or via diskette. 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 . signed cover page. Mailing Address: State Controller's Office Division of Accounting and Reporting Local Govemment Reporting Section P. O. Box 942850 Sacramento, CA 94250 COVER PAGE ID Number: 13981925800 Title F nt,.vxce. M�ezayer &era9 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 include 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- Housiirg Fund (HCD report). To meet the filing requirements, all portions must; be received by the Californla State Controller's Office. To file a paper report: 1. Complete all forms as necessary. 2. Sign this cover page, and mail complete report to either address below with 2 audits and the HCD report. Express Mailing Address: State Controller's Office Division of Accounting and Reporting Local Government Reporting Section 3301 C Street, Suite 700 Sacramento, CA 95816 Supplement to the Annual Report of Community Redevelopment Agencies Redevelopment Agency ID Number: 13981925800. Name of Redevelopment Agency: Downey Community Development Commission I Mark the appropriate box below to indicate the ending date of your agency's fiscal year. Report data for that period only. . • September 2008 Return this form to the California State Controller's Office. If you any questions regarding this form please contact: U.S. Bureau of the Census, Shannon Doyle, 1- 800 -242- 4523 A. Personnel Expenditures Report your government's total expenditures for salaries and wages during the year, including amounts paid on force account construction projects.. B. Mortgage Revenue Bond Interest Payments Report your govemment's total amount of interest paid on mortgage revenue bonds - during the year. • • • US Bureau ofthe Census- Revised 3/2009 December 2008 Kt June 2009 ZOO 1$ 1,139,295 1U20. I$ 0.00 . . , . 1 :' 0 cal ...t° :'....g - g - • g .-k.:E's. I.E. • E - E' - . = q -s 0 0 --- ..- CD: I • - CD.: -.. CD ? 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CO• • °� .0 :co co j < ▪ v W o o � W m r o c ▪ m n 3 o a n N O „ v o a o o si m X A y rt a s C) N • o • 3 O c 3 = o N N M O tD � O ■ CALIFORNIA DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT REDEVELOPMENT AGENCY ANNUAL HOUSING ACTIVITY REPORT FY ENDING: June 1'30 [ 2009 - Agency Name and Address: County of Jurisdiction: Downey Cat unity Development Commission Las Angeles 11111 Brookshire Avenue Downey. CA 90241 Health & Safety Code Section 33080.1 requires agencies (RDAs) 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 RDAs' activities in accordance with Section 33080.6. Please answer each question below. Your answers determine how to complete the HCD report. 1. Check one of the items below to identify the Agency's status at the end of the reporting period: ❑ New (Agency formation occurred durine renortine year. No financial transactions were completed). - -- —IN—Active (Financial and/or housing transactions occurred during the reporting year) ❑ Inactive (No financial and/or housine'transactions occurred durine the reporting year). ONLY COMPLETE ITEM 7 • Dismantled (Agency adopted an ordinance and dissolved itself before start of reporting year). ONLY COMPLETE ITEM 7 2. During renortine year, how many adopted project areas existed? 2 Of these, how many were mereed during 0 If the agency has one or more adopted nroiect areas. complete SCHEDULE HCD -A for each oroiect area. If the agency has no adopted project areas. DC) NOT complete SCHEDULE HCD -A (refer to next question). 3. Within an area outside of any adopted 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 land use controls over the reporting period, anchor (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. No (all questions). DO NOT complete SCHEDULE HCD -B (refer to next question). 4. Did the agency's Low & Moderate Income H_ ousing Fund have any assets during the reporting period? ® Yes. Complete SCHEDULE HCD-C. O 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 aeencv outside a project area? ® Yes. Complete all applicable HCD SCHEDULES Dl-D7 for each housing nroiect completed and HCD SCHEDULE B. ❑ No. DO NOT complete HCD SCHEDULES Dl -D7 or HCD SCHEDULE E. 6. Specify whether method A and/or B was used to report financial and housing activity information to HCD: ❑ A.' Forms. All required HCD SCHEDULES A, B. C. Dl -D7. and E are attached. ® B. On -line (http. //www.hcdcagovI da0 "Lock Report" date: 12 / 3 0 / 2 0 0 9 . 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 e and (b) agency information reported are correct. /2-341 Signature of Authorized Agency Representative . Executive Director Title - IcA9T Afld�77R4 Telephone Number • • IF NOT REQUIRED TO REPORT, SUBMIT ONLY A PAPER COPY OF MIS' PAGE. • IFREQUIRED TO REPORT, AND REPORTING BY UAW PAPER FORMS (IN PLACE OF 'REPORTING ON-LINE), SUBMIT THIS PAGE AND ALL APPLICABLE HCD FORMS (SCHEDULES A-E) WITHA COPY OF AGENCY'S AUDIT. • IF REPORTING ON -LINE, PRINTAND SUBMIT "CONFIRMATION LETTER" UPON LOCKING REPORT • MAILA COPYOF(a) CONFIRMATION LETTER (IFHCDREPORT WAS ELECTRONICALLY FIT TED) OR (b) COMPLETED ' FORMS AND (c) AUDIT REPORT TOBOTH.H ®AND THESCO: Date Department of Housing & Community Development Division of Housing Policy Redevelopment Section 1800 3' Street, Suite 430 Sacramento, CA 95814 Redevelopment Agency Annual Report - Fiscal Year 2008-2009 Cover (9/21/09) The State Controller - • Division of Accounting and Reporting Local Government Reporting. Section 3301 CStreet Suite 500 Sacramento, CA 95816 . HCD -Cover Page 1 of 1 - 4 SCHEDULE I•ICD A Inside Project Area Activity for Fiscal Year that Ended 6 /30 / 2009 Agency Name: Downey Co mumity Develogxtent Project Area Name: Downey Redevelopment Project Commission Housi?g Preparers Name, Title: Ed VelaSCo. Mariaaex Preparer's E-Mail Address: evelasoo@dt tieyca.org Preparer's Telephone No: 562 - 904 - 7167 c. Year(s) of any mergers of the project area: n/a, Identify former project areas that merged: n/a Preparer's Facsimile No: 562 -869 -2810 GENERAL INFORMATION 1. Project Area Information a. 1. Year 1 plan for project area was adopted: 8/8/1978 2. Year that plan was last amended (if applicable): 7/9/1991 3. Was plan amended after 2001 to extend time limits per Senate Bill 211 (Chapter 741, Statutes of 2001)? Yes No x 4. Current expiration of plan: 7 / 9 / 2031 mo day yr b. If project area name has changed, give previous name(s) or number: NIA' d. Year(s) project area plan was amended involving real property that either. (1) Added property to plan: . 19791980.1984. 1997, 1991 (2) Removed property from plan: n/a . 2. Affordable Housing Replacement and/or Inclusionary. or Production Requirements (Section 33413). . Pie-1976 nroiect areas not subseouently amended after 1975: Pursuant to Section 33413(d), only Section 33413(a) replacement requirements apply to 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): n/a mo day yr Post-1975 nroiect areas and ieoeraohic areas added by amendment after 1975 to nre -1976 nroiect 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-1n 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 Housmg Fund for the ..deposit of the required set -aside percentage/amount by reporting gross fax in�ment on H- A CD,.Line 3a(1) and the Housing.F.und's shareof espenditiures• for debt service - on HCD -C,• Line4c. Do not report °net" - • funds transferred from the Debt Service Fund.on RCD- A,_Line 3a(31.whe• reuorting-debtserviee exoenditares on ACD-C. Line 4c. other Sources: Non -GAAP. (Generally Acceptable- Accounting principles }.revenues such asfroni laud 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 — Fueal Year 2008-2004 - . HCD A schA (9121109) rage 1 of 6 Agency Name: Downey Comm. Development Commission Project Area Name: Downey Recgvelop nt Project Proiect Area Housing Fond 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 homing located.outside the project area(s) should be reported. as "Other.Revenue^ on -Line 3j. (of this Schedule A). if this nroieet area-is-named as "beneficiary in the aathorraae 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 imior to annlcable oars through of fimds.and deductions.for fees (refer to Sections 33401, 33446, & 33676). Compute the required minimum percentage (%) of gross Tax Increrneat.and enter the amount on Line 3a(2XA) 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 rail uirnd minimum ( %). explain the difference). If any amount of Tax Increment was exempted or deferred, in addition to comnletine lines 3a(41 and/or 3a(5). complete Line 4 and/orLine 5. To determine the amount of Tax Increment deposited to the Housing Fund [Liire.3a(6)1, subtract allowable amounts exempted [Line 3a(4)] or deferred [Line 3a(5)1 from the actual amount •allocated to the Housing Fund [Line 3a(3)]. a Tax Increment: . (1) 100% of Gross Allocation: $3;622,495 (2) Calculate only 1 amount either (A) or (13) below _ (A) 20% required by 33334.2 (Line 3a(1) x 20%): • $ 724 , 499. (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 $ 724, 499" • * K pursuant to Section 333343(1), less than the minimum % ofGross.Tax Increment (see 3a(2)-above) is being allocated from thisprojectarea; identify the projectarea(s) contributing the difference. Explain any other reason(s): (4) Amount Exempted [Hearth & Safety Code Section 333342] . (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 deferned, also complete question#5, next page) :, .(6) Total deposit tolhe Housing Fund [result of Line 3a(3) through 345)]: • I. :Interest Income: • • c. • Rental/Lease Income (combine amounts separately reported to - the WO): d: Sale of Real Estate: - - e. • Grants (combine amounts separately reported to the ,C - Bond.AdministrativeFees: Deferral- Repayments (also complete Line 542) on the next„page) Loan Repayments: - : Debt Proceeds: ..Qt ierRevenue(s) [Explain and identify r 'Note repavltnts" S .724,:499. S: • .•.106, 5 ... • $'•• : `6O 39 • 4= • • :. $1;040;0.8 N/A Agency Nameibwney - Comm. Development Commission Project Area Name: Downey Redevelopment Project Exemptions) 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 (Note: An AnnualFindinn is required to be submitted to HCD) ❑ Section 33334.2(aXI ): No need in community to increase/improve supply of lower or moderate income housing. ❑ Section 33334.2(aX2): 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(aX3XC), this exemption expired on June 30,1993 but contracts entered into prior to May 1,1991 may not be subject to the exemption sunset. 1 0. ❑ 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 ") finding was adopted: / / Resolution # Date sent to HCD: / / mo day yr mo day yr Adoption date afrenortine vear.fnding: / / Resolution # Date sent to HCD: / / mo day yr mo day yr Deferral(s1 5. a. Specify the authority for deferring any set-aside on Line 3a(5). Check onlv one Health and Safety Code Section boxes: ❑ .Section 33334.6(d): Applicable to project areas approved before I986 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. N / I allowable In each fiscal year prior to July 1,1996 with certain restrictions. Note: The deferral previously authorized by Section 33334.6(e) expired: It was only ._❑ Other. Specify code Section and reason: b. For any deferral claimed on Page 2, Line 3a(5) and/or Lille . 5a above, identify. Date that initial fi finding was adopted: . / / Resolution # Date sent to HCD: / . / mo day .yr. • • ono yr Adoption date of reporting year fmdine: • /- / Resolution # Date sent to HCD: / / mo day .yr mo. day yr 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 Amount of Prior Cumulative Amount Amdunt.Deferred " Deferrals:Renaid Deferred • Fiscal Year This Reporting FY During Renorti ieFY Amount(s) Repaid) (1) Last Reporting FY. • (2) This Reporting -FY $. $ - 1 $ * I -it The cumulative amount of deferred set =aside should also be shown ottHCD -C, Line 8a. I H. 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): . - . Califomia ltedevelopcuent Agencies — Fiscal Year 20082009 Sch A (9/21/09) • s HCD -A Page3of6 Agency Name:Downey Comm. Development Commission project Area Name: Downey Redevvloprrent Project 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? / / mo day yr N/A If yes, when was the original plan adopted for the claimed deferral? / / mo day yr Identify Resolution # Date Resolution sent to HCD / / mo day yr When was the last amended plan adopted for the claimed deferral ? / / mo daY Yr Identify Resolution # D ate Resolution sent to HCD / / mo day yr Actual Proiect Area .Households. Displaced and. Units and Bedrooms Lost Over Reporting! Year: 6. a. Redevelonment Protect Activity. Pursuant to Sections 33080.4(ax1) and (aX3), 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 rep ortine year, (refer to Section 33413 for unit and bedroom replacement requirements). Deferral(s) (continued) Project Activity Households Permanently Displaced - Elderly Households Permanently Displaced - Non Elderly Households Permanently Displaced -Total Units Lost (Removed or Destroyed) and Required to be Replaced Bedrooms Lost (Removed or Destroyed) and Required to be Replaced Above Moderate Units Lost That Agency Is Not Required to Replace 'Above Moderate Bedrooms Lost That Agency Is Not Required to Replace Other Activity Households. Permanently Displaced - Elderly Households Permanently Displaced- Non Elderly • Households Permanently Displaced - Total California Redevelopment Agencies— Fiscal Yea 2008-2009 Sch A (921/09) Number of Households/Units/Bedrooms VL L M AM Total 0 . 0 0. 0 0 • 1. "TOtI er Activity. Pursuant to Sections 33080.4(aX1) and (aX3) based on activities other than the desttnction oriemoval ofstwellinw units and bedrooms reported on Line 6a report by income category the number of elderly and nonelderly households •permanently displaced over the renortine year: Number of Households - Vi L . `M: ' AM = Total 0 . .0 0 . C. As required in Section 33413.5, identify over the renortine year; each replacement housing plan required to be adopted before • • the permanent displacement, destruetion, removal of dwehling units -and bedrooms impacting the households reported on lines • - 6a. aid 6b. . - Date / / . Name of Agency Custodian mo day • yr . - Date / • / • Name of Agency custodian mo day yr .l Please attach.a separate sheet of-.paper listing any additional housing plans- adopted: • . HCD-A Page4 of Agency Name: Downey Comm. Developmetzt Commission Project Area Name: Rowney Redevelopment Project Estimated Proiect Area Households to bePermanentiv.Disnlaced Over Current Fiscal Year: 7. a. As required in Section 33080.4(aX2) 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 Total Households Permanently Displaced - Elderly 0 Households Permanently Displaced - Non Elderly 0 Households Permanently Displaced - Total 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 / / Name of Agency Custodian mo day yr _ Date / /. Name of Agency Custodian N/A mo day yr Please attach a separate sheet ofpaper listing any additional housing plans adopted. I Units Develoned Inside the Protect Area to Fulfill Reauirements of Other Proiect Area(sl. 8. Pursuant to Section 33413(b)(2XAXv), 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 project area's requitement to construct new or substantially rehabilitate dwelling units? Et No. . . Q ; Yes: Date initial finding was adopted? / / Resolution # Date sent to HCD: / / mo day yr mo day yr Number of Dwelling Units Name of Other Project Area(s) VL L M Total califomiaRedevelopment Agencies - Fiscal Year 200S -2009 Salk e 21/09) HCD -A Page 5 of 6 Agency NameDowney Comm. Development Commission Project Area Name: Downey Rt evelopment Project Sales of Owner -Occupied Units Inside the Project Area Prior to theExuiration of Land Use Controls 9. Section 33413(c)(2XA) 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? EINo QYes. SALES Units Sold Over Reporting Year b. Eaual Units. Were reporting year funds spent to make units equal in affordability to units sold over the last three reporting years? QNo ['Yes $ . 4-- Total LMLHF Spent On Equal Units Over Number of Units Reporting Year I 4-- Total Proceeds From Sales Over Reporting Year SALES 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 'Wain Two Years N/A • 10. Pursuant to Section 33080.4(aX10), 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 renortin E year. Identify the project and/or contactor, date of the executed agreement or contract, and estimated Completion date.. Specify-the amotmt 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. CoIA Name of Protect and/or Contractor Col B Agreement Execution Date ' . California Redevelopment Agencies — Fiscal Year 2008-2009 SchA (9/21/09) CoIC CoID CoIE . Estimated Sch C Amount Sch C Amount Completion Date - Designated. (w/in 2 yrs of Col B) lLIne 6al rune Tal S $ $. $ .p:Please attach a separate sheet of paper to list additional information. 1 Number of Units IL . 1M1 Total 1/L L . M Total L M Total HCD -A Page 6 of 6 Agency Name:Downey Cormainity Develor rent Omission Preparer's Name, Title: Velasco, Housing Myr . Preparer's Telephone No: 562 - 904 - 7167 c. Year(s) of any mergers of the project area: n /a. Identify former project areas that merged: 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 Califonua Redevelopment Agencies - Fiscal Year 2008-2009 SchlA(9/21/09) ...: GENERAL INFORMATION SCHEDULE HCD -A Ind Project Area Activity for Fiscal Year that Ended .6 / 30 /2009 Project Area Name: Woodruff Redevelopment Project Preparer's E-..Mail Address:evelasco @dcwneyca.org Preparer's Facsimile No: 562- 869 -2811 1. Project Area Information a. I. Year 1' plan for project area was adopted: 7/20/1987 2. Year that plan was last amended (if applicable): n/a 3. Was plan amended after 2001 to extend time limits per Senate Bill 211(C hapter 741, Statutes of 2001)? Yes Nox 4. Current expiration of plan: 7 / 20 / 2027 mo day yr b. If project area name has changed, give previous name(s) or number. n/a 2.. Affordable Housing Replacement and/or Inelusionary or Production Requirements (Section 33413). Pre -1976 oroiect areas not subseauently 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): N/A mo day yr . Post - 1975• nroiect areas and eeoeraehic areas .added by ame after 1975 to u re -1976 n roiect areas: Both replacement and inclusionary or production requirements of Section 33413 apply. NOTE: Amounts to report on H=A CD lines 3a(1), 3b-3f, and- 3i. can he Taken. from whatis reported to the State Controller's Office (SCO)- on the Statement of Income and Expenditures as part of the Redevelopment Agency's FnanclatTransactions Report, except for the reclassifying of Transfers-1n from Internal Funds and the reporting of Other Sources as discussed below: • Transfers -1n from other-internal funds: Report the amount of transferred funds on applicable HCD -A, fines 314 For example, report the-amount transferred from the Debt Service Fund the Housing Fund for the deposit of the required set: aside pereentage/amount.by reporting gross -tat increment on HCD -A, Line 3a(1) and report the Housing Fund's share of expenditures for debt service on HCD-C, Line 4e.- Do not report "net" • . funds transferred from the Debt Service Fund.on HCD -A. line Sap) when :renortn dept service exnenditaies ou:ACD -C: Line 4c. • Other Sources: Non -GAAP LGenerally Acceptable -Accounting)'ri . ciplbs) revemies such as from land sales for • L those agencies using the and Held for Resalemethod td 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 4 Line 3h • FTCD A Page 1 of 6 b: - : . . c . : RentaIlLease Inebme (combine amounts separately reported to the SCO): • d Salo of Real Estate: :er Grants ( coakime amounts separately reported to the S?CO L - Bond Administrative Fees:. • g. • Defeaat R ,..l .. (also complete Line Sc(2) on the next_page): h. LoanRepaym • • . • L DebtProceeds: j. ..Ogee Rcveaue(s) [ExpIaitr and identify aadatint(s)1 ' Agency Nare:Dawne z Corm. Deve1olgnent Commission 'Project Area Name: Woodruff Redevelopment Project Project Area Ilousine Fund Revenues and Other Sources 3.. Report aU revenues and other sources of funds from this project area which aoaued 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 nroiect area is named as beneficiary in the authorizineresolution. Any otherrevenue sources not reported on lines 3a. -3i., should also be reported on Line 3j. Enter on Line 3a(1) the full 100% ofpmss Tax Increment allocated prior to annlicable 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(2XA) or 3a(2)(B). Next, report the amount of Tax Increment set -aside before any exemption and/or defenai Of amotmt set - aside is less than rrauire d.minimum ( %). explain the difference). If any amount of Tax Increment was exempted or deferred, in addition to comnletine lines 3a(4) and/or 3x(5)- complete Line 4 and/or Line 5. To .determine the amount of Tax Increment deposited to the Housing Fund [Line 3.x(6)1, subtract allowable amounts exempted [Line 3a(4)] or deferred [Line 3x5)1 from the actual amount allocated to the Housing Fund [Line 3a(3)1. - a. Tax Increment: (1) 100% of Gross Allocation: $ 1,086,736 (2) Calculate only I set-aside amount: either(A) or B) below: (A) 20% required by 33334.2 (Line 3a(1) x�0%): $ 217 , 347 (13) 30%required by 33333.10(g) (Line 3a(I) x22%): $ (Senate 13111211, Chapter 741, Statutes of 2001) • (3) . Amount of set -aside (Line 3a(2)) allocated to Housing Fund $ 217 , 347 * I1; pursuant to Section 33334.3(i),.1ess than the minimum % of Gross Tax - Increment (see 3a(2) above) is being allocated from this project area, identify the project area(s) contnbutng the difference. Explain any other reason(s): (4) Amount Exempted [Health & Safety Code Section 3333421 (if there •is an amount exempted, also complete question i>ext page): .($ (5) AmOu t Defeo ed [Health& Safety Code Section 33334:61 (if there is as amount deferred, also complete question #5, next page): ($ : - (6) . Totaldeposit to the Housing Fund. [result ofLine 3a(3) through 3x(5)1: k Totalfr.ojecx - Area Receipts Deposited to.Housiag Fond (aiidliues3aC - 3 J ? . $. 217,347 $ 75,324 S • 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. 333.34.6(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. , Not 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 restrRtions. • - ❑ Other Specify code Section and reason: b. For any deferral claimed on Page 2, Line 3a(5) and/or Line Sa above, identify: Date that initial. (1 1 • / Resolution# Date sent toHCD: .1 / } • • mo day :yr: mo • • day yr . Adoption date ofrenortine year fmdine: • / / Resolution-# Date sent to HCD: .• / - / • ono day :yr: mo. day yr. • . Adeferred set-aside pursuant to Section 33334.6(1J cons'titutenind itedness to the Housing Fund. Sutnmarize the.amount(s) of se baside deferred over the reporting year and. cumulatively as of the end of the reporting year • . i6iei a kopmentAgenaies "" - FucalYear?Oi?8- ?009 . ). ... Agency Narire:Downett Comm. Development Commission Project Area Name: Woodruff Redevelopment Project Exemnfion(s) 4. a. Han 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. (Note: An 4nnualFindina is required to be submitted to HCD) ❑ Section 33334.2(aX1): 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. N/A ❑ Section 333342(aX3): 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. O 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 a, finding was adopted: / / Resolution # Date sent to HCD: / / nio day yr mo day yr Adoption date ofrenortine war fording: / • / Resolution # Date sent to HCD: / / mo day yr - mo day yr •i:: - . Amount.of Prior - : . Cumulative Athouat .Amount & • . / ned. • . ' - - :Deferrals llepaid . Deferred:(Net of Any • . • . Fiscal Year , . This Rep irtint; FY a Iteoa g f _ Aniotrnt(s) - ? f 1) Last R porting Fr: -(2) This Repotting FY '.. . : $ * - Ir T h e c u g u l a 0 e a i n o t t i t t ofilelerred sePas a shatrlcta sbeshai»rotr C; Lim 8a. If the priorFY cumulative:deferial-shown above = wets.•f who whsreported oii.tlte Last Ha) report (Hf i?A and - -C), indicate the attionnt difference and the reason: . Difference: S R,eason(s); - • • • 1 -N / AgencyNameDownev Comm.' Development Commission Project Arca Name: Woodruff Project Deferral(sl (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 ❑ Ifyes, by what date is the deficit to be eliminated? / / mo day Yr If yes, when was the original plan adopted for the claimed deferral? / / mo day " Yr Identify Resolution # Date Resolution sent to HCD / • / mo day Yr When was the last amended plan adopted for the claimed deferral? / / mo day Yr Identify Resolution # D ate Resolution sent to HCD / / mo day Yr Actual•Proiect Area Households.Disnlaced and Units and .Etedroems.Lost Over.Renorthte Year: 6. a. Redevelopment Proiect Activity. Pursuant to Sections 33080.4(aX1) and (aX3), 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 renortine (refer to-Section 33413 for unit and bedroom replacement requirements): • • Number ofHouseholds/Units/BedrOOoms • Project Activity. • Vt. L M . AM Total" Households Permanently Displaced - Elderly 0 Households Permanently Displaced- Mon E derly . . 0 -Households PerrnanentlyDisplaeed Total - - 0 'Units Lost (Removed or DestroYed) and Req uired to be Replaced Bedrooms Lost (Removedov Destroyed) and .Required td be Replaced - Above Moderate Units Lost That Agency Is Not Required to Replace . Above Moderate Bedrooms.Lost That Agency is Not Reguired'to Replace b . ; ..Other A c t i v i t y . P u r s u a n t to S e c t i o n s 3 3 0 8 0 . 4 4) ( 1 ) and (a )(31 basedon activities ,other than'the destruction er roval cifdwelling units and bedrooms reoorted on Lineba. 'report by income category the number of elderly and nonelderiyhouseho1dS.pennaoendy • . displaced over the reoortine year. _('aTr£6in Bsdevetopineat FueatY*2OD &2009. 'SchA (9/.21L09) - :. Other Activity Households. Peimatiently, Displaced Elderly Households Permanently. Displaced - Non Elderly Households Permanently - Totat • e As-required in Section 33413.5;identiffy., over the r nortingyear eachrreplaccmeatlmusing plan.se41 be adopted before *permanent displacement,. on and/orremovalofdwe rrnguaitsandliedioomsinnpaetingtliehousetioldsrtedonlities - • :6a. and 6b. Date . • / / ..N_ anmeofAgeneycustodian ..: mo day yr / i - Name of AgencY Ctodian •ma d?y n • :Please attachtiseparate sheet ofpaperlisting any additional " N / A ._ Number of Flouseholft VL 1. • " At • mil' ..Torah - 0 0 - :0 • Agency Name: Downey Cornn. Development Carmission Project Area Name: ff RpriPvP1opnt Project Estimated Project Area Households to be Permanentiv Displaced Over CurrentIlscal Year: 7. a.. As required in Section 33080.4(aX2) for a redevelopment.project of the agency, estimate. over the curreat.fiscal Year. the number of elderly and noneIdedy 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 HHouseholds Permanently Displaced - Elderly n Households Permanently Displaced - Non Elderly 0 Households Permanently Displaced - Total 0 b. As required is Section 33413.5, for the current fiscal near. identify each replacement housing play required to be adopted before the.permanent displacement, destruction, and/or removal of dwelling units and bedrooms impacting the households reported in 7a. Date / / • Name ofAgency Custodian mo day •yr Date / /. Name ofAgencyCustodian mo day yr Please attach a separate sheet of paper listing any additional housing plans adopted. Units. Developed-Inside the Protect Area to Fulfill Requfireme i is of Other.Proieet Areats). 8. Pursuant to Section 33413(b)(2XAXv), agencies may choose one ormote °project areas to fulfill another project area's requirement to construct new-or substantially rehabilitate dwelling units, provided the agency conducts a publichearinig and finds, based on substantial . • evidence, that the aggregation of dwel ingunits in one or more project areas will not cause or exacerbate racial, ethnic, or economic regation- 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 dwieiling units? • 'Et No. O' Yes. Date jnitial funding was:adopted? / / Resolution #i Date Seat to1iCD: / / mo " : day . yr - . • Name of Other Protect Areas) ■ •"N /A. mo • day . yr Number ofDwel inc Units _ VL . L . M . Total . Calddinar ceaaPiri AB Gies- Thca1Year2O08 -2009 _ sal-TAO/2:09) :... _ P,aie5Of {: -. :.: Agency Name:pownev Ccatan_ Development Commission Project Area Name: Woodruff Zedevelopment Project Sales of Owner -Occupied Units Inside the Protect Area Prior to theExniration ofLand Use Controls 9. Section 334I3(cX2XA) 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 $ 1+— Total Proceeds From Sales Over Reporting Year Number of Units VL I L IMI Total I SALES Units Sold Over Reporting Year b. Equal Units. Were reporting year funds spent to make units equal in affordability to units sold over the last three reporting years? ]No OYes SALES (F— Total LMIHF Spent Oa Equal Units Over i Reporting Year 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 attach a separate sheet o €paper to list additional information. Number of Units VL L M Total Affordable be Constructed Inside the Protect Area Within Two Years 10.- lit want to Section 33080. l(aX10), report the number of very low, low, and moderate incoine units to be financed by any federal, state, local, or private source in order for construction to be completed within two• veers from the date of the agreement or contract executed 'over reportine near. Identify the project andfor contractor, date ofthe-executed agreement or contract, and estimated Completion date: Specify the amount reported as an encumbrance onfCD -Cj ine 6a. and/or any applicable amount designated on HCD-C, Line • ?a. such as for capital outlay orbudgeted finds intended to be encumbered for project use within two years front the reporting year's agreement or contract date. I DO: NUT REPORT . ANY UNITS ON THIS SCHEDULE A THATARE REPORTED ON OTHER IRCD As, B, OR Ds. . COL Ce1-8 Col C CoiJJ COI E lame of Agreement . Estimated Sch C Amount . Sch D Amount Project andtor- .Execution Completion Date Encumbered Designated Ceritractor. Date (win 2'yrs of-Col. B) .• It lie 6a1: (line 7a1 . $.; $ $-. NE Total 0 . 0 . 0 1; SCHEDULE HCD -B Outside Project Area Activity for Fiscal Year Ended 6 / 30 2009 Agency NameThwnev Community Development Project Name: Downey Redevelopment Project ColrQnission Preparers Name, Title: Ed Velasco, Hqusina Mar. Preparers E-Mail Address: evel ascrgadowneyca.org Preparer's Telephone No: 562 -904 -7167 Preparer's Facsimile No: 562 - 869 -2810 Actual Households Displaced and Units and Bedrooms Lost Outside ofProiect Area(sl Over Reporting Year 1. a. Redevelopment Proiect Activity. Pursuant to Sections 33080.4(a)(1) (aX3), 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/Units /Bedrooms Activity VL L . M AM Total Households Permanently Displaced— Elderly Households Permanently Displaced - Non Elderly Households Permanently Displaced — Total 0 Units Lost (Removed or Destroyedyand Required t6 be Replaced l) Bedrooms Lost (Removed or Destroyed) and Required to be Replaced Above Moderate Units Lost That Agency is Not Required to Replace: Above Moderate Bedrooms That Agency is Not Required to Replace Activity Households Permanently Displaced - Elderly Households Permanently Displaced - Non Elderly Households. Permanently Displaced — Total PIease attach a separate sheet ofpaper listing any additional housing plans adopted. 0 0 b. Other Activity. Pursuant to Sections 33080.4(aX l) and (aX3) based on activities other than the destruction or removal of dwelline units and bedrooms reported on Line la. report by income category the number of elderly and nonelderly households • "permanently displaced over the reportine -vear. Number of Households VL L. M AM Total 0 -0 30 c. BAs required in Section 334115, identify over the renortine year, each replacement housing plan required to be adopted before the • permanent displacement, destruction; and/or removal of dwelling units and/or bedrooms impacting the households reported on lines la. and.lb. N/A Date / / Name of Agency Custodian mo day yr Date / / Name of Agency Ciistodian mo day yr dzlifor iia Redevelopment Agencies =Fiscal Year 20082009 HCD B •SdrB (9/21/09) - Page_ l.of 2 - Agency Name: Downey ConBmnlity Deyelotent Cone[tissiOn HCD B (Outside Project Area) Estimated Households Outside of Proiect Area(sl to be Permanently Displaced Over Current Fiscal Year: 2. a. As required in Section 33080A(aX2) for a redevelopmentproject of the agency, estimate. over the current fiscal year, the number of elderly and nonelderly households, byincome category, expected to be permanently displaced. (Note: actual displacements will be reported for the next reporting year on Line 1). Estimated Permanent Displacements Number of Households Activity VL L M AM Total Households Permanently Displaced - Elderly 0 Households Permanently Displaced - Non Elderly 0 Households Permanently Displaced - Total 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 on 2a. Date / / Name of Agency Custodian mo day yr Date / / Name of Agency Custodian mo day . yr I Please attach a separate sheet of paper listing any additional housing plans adopted. Sales of Owner -Oecunied.Units Outside of Proiect Areas) Prior to the Expiration of.Land Use Controls 3. Section 33413(cX2XA) 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) year from the date the unit was sold, expend funds to make another unit equal in affordability, at the same income level, as the unit sold. a. Sales. Did the agency permit the sale of any owner - occupied units during the reporting year? ENo • des $ 14— Total Proceeds From Sales Over Reporting Year Number of Units Income Level I VL I L I M I ` Total Units Sold Over Current Reporting Year I 'b. Banal Units. Were reporting year funds spent to make units equal in affordability to units sold over the last three reporting ®No . years? Oyes $ 1 Total LMIHF spent on Equal Units Over. Reporting Year Number of Units Income Level VL L M. Total • Units Made Equal This Reporting Yr to. Units Sold Over This Reporting Yr Unita•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 Outside of Protect Areas) Within Two Years 'From Date of Agreeinent or Contract • '4. •Putsuantto Section 33080.4(ax10), report the number of very Iow, low; andmoderate income units to be financed by any federal, state, locator private source in order for construction to be completed within two vears.from the date of the aereement or contract executed .over the reportine near. Identify the project and/or contractor, date ofthe 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 encrimbered for project use within two years from the reporting . year's agreement or contract date. N/A I DO NOT REPORT ANY UNITS SHOWNON SCHEDULES HCD As OR Ds. CoI. A Col B Col C . Col D • Col E Name of .Agreement Estimated • Sch C Amount Sch C Amount 'Project and/or Execution Corupletion Date Encumbered Designated Contractor:. Date (win 2 yrs of Col B) . 1LIne.Gal- . • ft.ine 7a]. . VL L M Total $ $ . $ $ I Please attach a separate sheet of paper to list additional information. CaliforaiaRedevelopment Agencies – Fiscal Year 2008 -2009 Soh B (981/09) HCD-B Page 2 of 2 SCHEDULE HCD -C Agency wide Activity for Fiscal Year Ended 6 / 30.12009. Agency Name: v atniunity Develoranent County. Los Angeles Compassion Preparefs Name, Title: wl VPl asrx), Hot ng Mgr Preparefs E-Mail Address: evelasco@downevea..ozy Preparer's Telephone No: 562 - 904 -7167 Preparer's Facsimile No: 562- 869 -2810 Low & Moderate Income Housing Funds Report on "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) $ 2,287,935 a. if Beginning Balance requires adiustment(s).descriibe and provide dollar amount (oositive/neeative) making up total adjustment: Use <$ > for negative amounts or amounts to be subtracted. Grant $ 32 $ $ b. Adjusted Beginning Balance [Beginning Balance plus + or minus < Total Adjustment(s)] 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) $ 2.280.304 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 $ 0 3 . . Total Resources (Line lb. + Line 2a+ Line 2c) $ 4..600.250 NOTES: Many amounts to report as Expenditures and Other Uses (beginningon 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: Repor•the specific use of all transfer edfunds on applicable - 4a. - of Schedule C: For example; transfers from the Housing - Fund to.the Debt Service Fund forthe repayment of principal and -interest of debt proceedsdeposited to the Housing Fund shomild-be reported on the applicable item comprising HCD C Line 4c, • providing tax increment (gross and deposit amounts) were repotted :on Sch -As. External transfers out ofthe Agencyshould be reported on HCD-C Line 41(e .g.: transfer of excess surplus to the County Housing Authority). . Other Uses: Non ; iAAP Weal-ally Accepted Accotinfing j aples) recording ofei penditures such as land puichas for - agencies using the Laa&Held for Resale method to record 1and:purchases should be-reported on HCD- CLine4a(1). Funds . - spent - resulting in loans to the Housing Fund should be included in HCD-C lines 4b:; 4£, 4g., 411., and 4i as appropriate. T ke sta wory dtepertainung to ciniu wulyRedevelopm isprovidedforpreparers torevieivto: determine the - - - appropriateness ofLewand Modeiate&OrmeRousinrg Fund (LMT fF) expend. itures d other uses HD doesrapt . - represent that Rise Items idetreing any expend Lures and other uses are allowable. CAL is accessible' on theJidertiet(websile: httn:// www. leginfo. ea. gov/ Ca/ forninlaw) Jb eguuthrgwithSeel/ on- 33000oftheHeallhandSafetyCode • - C'alif'ornia Redcvdopmenr Agerxiea —Focal Year 2008 -2009 Sdr C(9121/09) $ 2,319,945 HCD- Page 1, of 10 Agency Name: r� . /i _smut A 1- L- ••{I - 1 •. 4. Expenditures, Loans, and Other Uses sion a. Acouisition of Property & Buildine Sites 133334.01(111 & Housine 133334.2(0(611: (1) Land Purchases (Investment — Land Field for Resale) * $ (2) Housing Assets (Fixed Asset) * - $ (3) Acquisition Expense $ (4) Operation of Acquired Property $ (5) Relocation Costs $ (6) Relocation Payments $ (7) Site Clearance Costs $ (8) Disposal Costs $ (9) Other [Explain and identify amount(s)]: $. $ $ * Reported to SCO as part ofAssets and Other Debts (10) Subtotal Property/Building, Sites/Housing Acquisition (Sum of Lines 1 -9) $ b. Subsidies from Low and Moderate Income Housine Fund (Id['). (1) 1 Time Homebuyer Down Payment Assistance . $ (2) Rental Subsidies $ (3) Purchase of Affordability Covenants [33413(b)2(B)1 $ (4) Other [Explain and identify amottnt(s)]: $ $ $ (5) Subtotal Subsidies from LMIHF (Sum of Lines 1 -4) $ c. Debt Service r33334.20(9)1:. If paid from L IIHF, report LM1HF's share of debt service. lipid froth: Debt Service Fund, ensure "gross" tax is reported on HCD -A(s) Line 3a(1). (1) Debt Principal Payments (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(sj }: • (5) • Subtotal.Debt Service (Sure of li.ines '1- 4) . . Planning and Administration Costs (33334.3(0(1)1: • . (1) Administration•Costs . • ..(2). Professional Services (non oroiect snecifrc). . {3) P)sening /Survey/Design (non nrpiectsoceifc) (4). .Indirect Nonprofit Costs [33334.3(eXl)(B)) • • • (5) Other {Explain.andidentify aniount(s)jz 1 (6) Subtotal Planning and Ad i ttration(Sungof Lines :i. -5)._ •C hia: 3todeirelopmeStAgencids•-:: &200.9` Agency Name: _D Comunity Development Comraibsion 4. Expenditures, Loans, and Other Uses (continued) e. On/Off-Site Improvements [33334.2(eX2)] Complete item 13 $ f. Housing Construction [333342(eX5)] $ g. Housing Rehabilitation [333342(e)(7)] • . $1,466,700 IL Maintain Supply of Mobilehome Parks [33334.2(000)] $ • i. Preservation of At -Risk Units [33334.2(eXI 1)] $ j. Transfers Out of Agency (1) . For Transit village Development Plan (33334.19) (2) Excess Surplus [33334.12(ax1XA)] $ (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)]: $ Subtotal Other Expenditures, Loans, and Uses- $ • • 1 - Total Expenditures, Loans, and Other Uses (sum of lines 4a_ -k.) 5. Net Resources Available [End of Reporting Fiscal Year] - 1 Page 1, Line 3, Total Resources minus Total Expendit urs, Loans, and Olher Uses on Line 41] • S3,032,051 6. Encumbrances and Unencumbered Balance •• • a. 'Encumbrances. - Amount of Line 5 reserved for future payment oflegal contract(s) or agreetnent(s). See Section 33334.12®(2) for definition. $ 1 Refer.to item 10 on Sch A(s) and item 4 on Sclr B b. - Unencumbered Balance (Line 5 minus Line6a). Also enter on Page 4, Line I la. • $ 3 i 032.051 •" " ' . " 7• DesignatedfUndesignated Amount of Available Funds a Designated From Line 6b- Budgeted/planned to use near -tear Refer to item 10 on.Sch 4(s) and item 4 on Soh B b. ;Undesignated From Line 6b- Portion not'yet budgetedlplanned td use -$ .g. :Other Housing Fund Assets (non recurrent receivables) not included as part of Line 5. Indebtedness front Deferrals of Tax Increment (Sec. 33334.6) - frefer Sch A(s), Line 5c (2)1: $ - if - Value of Land Purchased..vith Housing Funds and Held for Development of Affordable Housing. Complete Silt -Glen 14 $`3;, 688.,332- • 4: : LAans Receivable for Housing Activities • - • . -$ - 357, 7'40:' Residual Receipt Loans (periodic/fluctuating payments) e - - AtAF Loans Receivable fall years) (Sec. 33681) • -f <: , (tither Assets [Explain and identify amount(s)1:. • °-Total" Other Hoasing Fund Assets.(suit Of 8a. -4 ,qTAL,FUND • 'if :410 (Net Reswuces Available) +8 (Total Other lousingFund Assets] ::. �liFda ih�t2deirelopmcat Agencies —Meal Year2008 -2009 Sd!(9111109) • • • Mnare tine -9 to thei,elow� anouat pottedto.$ti S.GO (I3alattce-Sficeiil'Reit)eve 3p r teial Transactions Report, • [Explain differctices and iddntiify- amoral( �� LO W -MOD FUN/. TOTAL EO.UITi 1$ALAisI Sla 1) OFO1L -TOSCO r. Agency Name: TI Crmm r ini f npva__e1 opnpnt f'jinnission Excess Surplus Information . Pursuant to Section 33080.7 and Section 33334.12(gK1), report on :Excess Surplus that is required to be determined on the first day of a•fscal 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)(3XA) and (13) provide that the Unencumbered Balance can be adjusted for (1) any 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 and and the value received. The Unencumbered Balance is calculated by subtracting encumbrances:fromNet 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(8)(2)1 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. Determine 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 reportingyear. Columns 6 and 7 track prioryears'..Excess Surplus. Column 1 • Column 2 Column 3 Column 4 . Column 5 Column 6 Column 7 4 Prior and Current rtin . Years Sum of Tax Current Total Tax Increment Reporting Year Increment Deposits Over 1" Day. Deposits to Prior Four Adjusted HousingFund FYs Balance 4:RMYrsAgo FY 04 -05 $694,923 31 nut YrsAgo FY 0506 $698,24- 2 RMt Yrs Ago :FY . 06 -07 $772,735 1 Rpm Yr Ago F]E. 07 -08 $ 769,327 CURRENT Sum of Column 2 Last Year's Sch C Reporting ' Ad usted Balance Year FY 08 -09 • Calif omiaRedevelopment Ageacics =Ducal Year2008 -2009 Sch C (9/21/09) - Current Reporthig Year 1" Day Excess Surplus Balances • Col 4minus:Iaceer of Col 3 or Shunt (report nasiive $1 • $ • $ Amount Expended/Encumbered Against FY Balance of . Excess Surplus as of End of Reporting Year • $27.935.201 42,319,945 $' • 0 $ $ 11. Renortine Year Ending Unencumbered Balance and Adjusted Balance a. - Unencumbered Balance (End of Year) [Page 3, Line 6h] b. If eligible, adjust the Unencumbered Balance for. (1) Debt Proceeds [33334.12(g)(3)(B)]: Identify unspent debt proceeds and related- income a remaining at end of reporting year S. • (2) Land Conveyance Losses [(33334.12(gx3XA))]: • • • • Identify .reportiii year tosses front sales/grants/leases of land acquired with tow -mod fonds; • if 49% or more ofnew or rehabilitated unitcwill be affordable to lower-income households 12.. Adj ttsted Balance (next year's determination of Excess Surplus) [Liar 1 minus sugt.of l lb(1) & l lb(2)j. . - $.3, 032, 051 Note: Doo not eater- Adjusted Balance in Col 4. It is to be-reported ac:iiext year's 1st day atnount to. deter min' e Excess • .a. Inhere is remaining Excess Surplus from what was determined onthe Bust day of the.mporting deseribe the agency's plan (as specified in Section 33334.10) for transferring, encumbering, or expending excess suiptus:, The AgenCv will .pursue developing Agency- owned v , 4e for the purpose of increasing iaffordable : housing.: imnits.. The objective is to produce 28 low and intderate incone units by 2014. b. ' If the plan described•in 12a. was adopted, enter the plan adoption date: Remaining Excess Surplus for Each Fiscal Year as of End of Year $3,032,051 I CD-C. .Page 4of10 AgeacyName: Downey. Conitumity bevelotment Cr mis 3iscellaneuus'Uses of Funds 13. Nan amount is reported in 4e., pursuant to Section 33080.4(aX6), report the total number of very low-, low -, and ' households that directly benefited from expenditures for onsiteloffsite improvements 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.) N/A Households Benefiting Income Households Households from Elimination of Level Constructed Rehabilitated Health and Safety Hazard Duration of Deed Restriction Very Low -Low • Moderate . 14. .If the agency is holding land for future housing development (refer to Line 86), summarize the acreage (round to tenths, do not report square footage), zoning, date ofpurchase, and the anticipated start date for the housing development. No. of Purchase Estimated Date . Site Name/L ocation* Acres Zoning Date • Available Comments 9303. Elm Vista • .43 R -3 5/10107 N/A - Avenue Theater .23 f-2 5/30/08 12/30/12 Verizon Building . .23 C-2 6/30/08 12/20/12.: Cal_ . Trans .17 R -1 6 /12 /8 . . 6/30/09 Bul'1man Site _ 20_._ R, /22/08 .. 6/30/1.0 1 : 33334.13(a) ? attach.a sorintate sheet ofpaper listing any additional sites not reported above.. t t Section- 33334:13 requires ageacieswliieh.have used the-Hon Fund to assist mortgagors in a lhott eownership• norigage • • . reye:me load program; or financing program descrlbed.in that Section, to provide the followinginforination: a. 'Hai your agency Used lheauthority related to definIt ons or family size adjustment factiors:provided i Section • 'Yes Q' . No' [l_ Not Applicable - Has tlieagency cgmphed•with.iequir*nents in Sec tion33334a13(ib) ielated to assistance for.veiy lowancomel_iousebolds• : equal to U*40 that F01(14 . 101 - above moderate- inennie Houstolds? ` Yes D." - No .f Not Applicable • Agency Name: n 16. Did the Agency use non -LMIHF funds as matching funds for the Federal HOME or HOPE program during the reporting period? YES ❑ NO EI If yes, 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(ax11), 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 ANY D.00UIMP.NTS/RECORDS Has your agency made any deposits to or withdrawals from the LMJHF? 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.): nPro 1 t Pr Name of Agency Custodian (person): - m,,,A;,f- Custodian's telephone number. 562 904 265 Place where record can be accessed: 11111 Brookshire Avenue Downey, CA 90241 Name of document (e.g. ledger, journal, etc.): Name of Agency Custodian (person): Custodian's telephone number: Place where record can be accessed: 18. Use of Other (non Low-Mod Fands) Redevelopment. Funds for Housing Please briefly describe the use of any non -LMEHF 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. - SueeestionsIResource.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 orother funds:to increase, improve, and preserve affordable housing? . 20. Annual: Monitorint.Reports of Previously Completed Affordable Housine Projects/Programs (R&SC 33418) Were all Annual Monitoring Reports received for all prior years' affordable housing projeotslprograms? Yes a No ❑ Calffomia Rodevelopmeat Ageades— Fiscal Year 20082009 . HCD -C Schc(9121/09) Pa 6 of 10 Agency Name: Downey f mi 1]eye op nt Cam iSSion 21..Excess Surolus Exnenditure .Plan (H&SC 33334.10(a) JTHJ NG TO REPORT CaliConniaRedevelopment Agencies - lkcal Year 2008 7009 Sch C (9/21109) Agency Name: DowneV Coinmuli tv Development Commission 22. Footnote area to provide additional information. NOTHING TO REPORT - Glifomia edevelopmentAgeueies= FiscalYear2008 -2009 • SchC(9f21 /09). - HCD-C Page)} of 10 SCHEDULE HCD -D1 GENERAL PROJECT /PROGRAM INFORMATION For each different Project/Program (area/name/aav or nonaav devlrental 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 -1s, & 0s3 -4-5. 2 20 sub rehab (nonrestricted): Area 3: 4 Agy Dev. Rentals; 16 Nonagy Dev. Rentals. Complete 2 0-1s & 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: Downey qty Development Co:Emission Identify Project Area or specify "Outside ": Outside General Title of Housing Project/Program: Hole Improvement loan Program Project/Program Address (optional): Street: ZIP: Owner Name (optional): Total Project/Program Units: Restricted Units: Unrestricted Units: # 32 # 0 # 32 I For nroiects /uroorams with no RDA assistance. do not complete any of below or any of HCD D2-D6. Only complete HCD -D I 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/ft 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: (numbex must not exceed 'Total Project Units') . # 0 Number of units restricted that are serving one or more Special Needs: # 0 ❑ Check, if data not available (Note: A unit may serve multiple °Special Needs° below. Sum of all the below can exceed the "Number of Units° above) #" 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 only with "Other.Housiag Units Provided - Without LMIHF" Sch4 )6) Affordability. and /or Special Need Use Restriction Term (enter day /month/year using digits, e.q. 07/01!2002): Replacement - Housing t /nits Indusionary.Housinp Units Other Housing Units Provided With LMIHF • Without LMIHF Restriction Start Date Restriction End Date Perpetuity • Funding Sources: Redevelopment Funds: $ 777,!59 Federal Funds- $ 791,446 State Funds: $ Other Local Funds: $ Private Funds: Owner's Equity: $ • TCAC /Federal Award: $.. . TCAC/State Award: $ Total Development/Purchase Cost: $1,420 i,m�Rti5 . Check all appropriate form(s) below that will be used t o identify ail _o f this Project'slProgram'S Units: ❑ Replacement Housing Units Indusionary • Other Housing Units Provided: (Sch- fiCDD2) • -. 0 Inside PiojectArea -(Sch HCD-D3) IN With LMIHF (Sch HCD -D5) ❑ OutsideProjectArea (Sch HCD -D4) ❑ Without - LMIHF (Sch HCD D6) ❑ No Aaencv.Assistance (Sch .HCD -D7) . California Redevelopment Agencies - Fiscal Year 2008 -2009 . Sch DI (9/21/09) HCD-D1 Agency: Downey Cormunity Develoyartent Commission Redevelopment Project Area Name, or "Outside": Outside - Affordable Housing Project Name: Ilene Improvement loan Program - Check only one: [Q 'Inside Project Area a Outside Project Area Check only one.. If both apply, complete a separate form for each (with another Sch -D : Agency Developed 12t Non- Agency Developed Check Only one. If both apply, complete a separate form for each (with another Sch -D'[): 0 Rental a 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 (non replacement/non. Inclusionarvt: 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. SCHEDULE HCD -D5 OTHER HOUSING UNITS PROVIDED (AGENCY. ASSISTANCE WITH LMIHF) (units not claimed on Schedule D- 23,4,6,7) (lack minimum replacement or inclusionarv and/or not controlled by aaencv or community) 1 1 �I•LJ 1 .1 1' 1: IL I 1 1 B. Substantial Rehabilitation Units (value increase with land .> 25% (non replacement/non:incluslonarVI: 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. 1 1 1 11tH 1 1 1: ILji ; . 1 1 1 11__1 C. Non- Substantial Rehabilitation 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. , 16 to I. 0 II 1 o I i 101 1' 1 0 I.R 0_23_1 1 D.. Acquisition of Units. Only (non aca.uisltion of affordability covenants for inclustonary credit): . Elderly links • Non Elderly Units TOTAL Elderly & Non Elderly. Units VLOW LOW MOD TOTAL • INELG. VLOW LOW MOD TOTAL INELG. VLOW IOW MOD TOTAL INELG. 1 -1 1 1L -11 1. 1 1 11 11 1 1 1 111 'Mobilehome Owner/ Resident: 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. 1 1 L�1 1. 1 1. 11 1 1 . 11_ 1 Mobilehome Park Owner. l :Resident: • 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. .J:: 1 1 I •L.`I -1 • 1 1. 11_ j 1 1 .1 11 1 Calif Redevelopment Agencies - Fiscal Year 2008 -2009 SeliD5 (9/21109) HCD-D5 Page 1 of 2 Agency Name: DowneY Community Development Catunission' SCHEDULE HCD -D5. OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCEWITH !_MIHF) (continued) Note: 'INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total G. Preservation (H&S 33334.2fe1f1il Threat of Public Assisted /Subsidized Rentals Converted to .Market': Elderly Units . 'Non Elderly Units TOTAL Elderly & Non Elderly Units VLOW LOW MOD TOTAL INELG: VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL . 1NELG. 1 1 *1 1 II 1.1 1 I 1 11 1 I 1 I 1Il_._J H. Subsidy (other than any activity already renorted on this formt: Elderly .Units Non Elderly Units Housing Project Name: Outside Rom Lty�� m ti . iit " .LOW LOW MOD TOTAL. INELG. VLOW LOW MOD. TOTAL INELG. VLOW LOW • MOD .TOTAL INELG. 1 . 1 - 1 . 11 1 1 I 1 1 1 1 1 1. Other Assistance: 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. 1 1 1. 1 i 11 1 1 II. 1-11 1 1 f IL--1 ; 1 TAJ IJNI1•T (Add only. TOTAL of'alt TOTAL Elderly. f Noa Elderly Units'_ . TOTAL Elderly & Non Elderly . Units- 11i0 . TAIITS is les than. n"Total Pryte liii l!s"sfioivir.o;i410 cJ d D1, report lllez as iria'rlrc[eiUeIOiit • i :"altoppropciateform(s) hsted,below thatwUI Fire use_ d to1denti r- reli�l-aiaiitlg�P. �Ud ` to be iepo d epiavement Hoitsing:.Units : • :IndusioniailcUnite .. • . - _ • - Other`Houfsig kilts Provided • HC1 -D2} F Inside Pigfect :HCG( -D3 . :» lilittiauit"LMriKe( N1CD -t)61 ';. • • Outsid& Vrojeet Area (Sctt-tHCD4 4) J slstance (Sch SCHEDULE.HCD -D6 OTHER HOUSING UNITS PROVIDED (AGENCY.ASSISTANCE WITHOUT LMIHF) (units not claimed on Schedule D- 2,3,4,5;7) (units without minimum affordability restrictions and /orunifs that . agency or communify.does.nof control) Agency: Downey. Community Development Car mission` . Redevelopment Project Area Name, or "Outside": Outside Affordable Housing Project Name: Hare Improvement loan YL J Lcuu Check only one: ❑ Inside Project Area ® Outside Project Area Check only one. If both apply, complete a separate form for each (with another Sch =D1): ❑ Agency Developed [C] Non- AaencyDeveloped Check only one. If both apply, ..complete a separate form for each (with another Sch -D 1): ❑ Rental. ] 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 AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL 1 1 1 1 11 11 1 I 1. 11 _l1 1 1 1 IL....._J1 B. Substantial Rehabilitation Units (increased value. inclusive of land. is > 25V: Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units • VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL 1 1 I 1. 11 11 1 1 11.11 1 1 1 1CI. C. ' Other Non- Substantial Rehabilitation Units: Elderly Units Non Elderly Units VLOW LOW MOD AMOD TOTAL VLOW LOW MOD. AMOD TOTAL VLOW LOW MOD .AMOD • TOTAL 1 . 2 1 1 7 1 0 I O I 1911 1 1 4 1 0 1;0 4 5 I3 1 21 1 0 1 0 11 24 D. Acquisition Only: Elderly Units VLOW LOW MOD AMOD TOTAL VLOW LOW MOD . TOTAL VLOW LOW MOD AMOD TOTAL 1 1 1.. 1 11_1 I 1. 1 .1 1 : 1 1 • C 1 1, E. Mobilehome Owner/ Resident: Elderly Units VLOW LOW MOD AMOD • TOTAL VLOW LOW- MOD - . = MOD .TOTAL VLOW LOW MOD AMOD :TOTAL F. Mobilehome Park Owner /.Resident: Elderly Units Non Elderly Units TOTAL Elderly & Non:Elderly Units VLOW. LOW MOD AMOD TOTAL VLOW LOW MOD : AMOD `TOTAL VLOW LOW MOD AMOD TOTAL 1 1 . 1 1 11=1 1 1 I_ 11 CalifomiaRedevelopment Agencies - Fiscal Year 2008 -2009 Sch D6 (9/21/09) Non Elderly Units • TOTAL Elderly & Non Elderly Units Non Elderly Units , . TOTAL Elderly & Non Elderly Units TOTAL. Elderly & Non.Eldedy Units • 1 1 1 1 Imo 1iCD-D6 Page lot 2 Agency Name: Downey Community Development Commission K. Other Assistance: Housing ProjectName: J rrm T rOU•eltent Loan 'Program SCHEDULE HCD-D6 OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITHOUT LMIHF) (continued) Note: "INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total G. Preservation of Public Assisted Rentals At-Risk .of Converting to.Market Rent (H &S 33334.2(e1(111: Eidedy Units Non Elderly Units TOTAL Etderly & Non Elderly. Units VLOW LOW MOD AMOD TOTAL VLOW LOW MOD, .AMOD TOTAL VLOW LOW MOD AMOD TOTAL 1 1 1 11_1 1 1 1S ! 1 LJ 1 1 1 1 111 H. Replacement of Public. Assisted At -Risk Units Without LMIHF (H &S .33334.3(h} Elderly Units Non Eldedy Units TOTAL Elderly & Non Elderly Units VLOW LOW MOD AMOD TOTAL VLOW LOW MOD. ; AMOO TOTAL VLOW LOW MOD AMOD TOTAL 1 1 1 11:11 1 1 1 1LD1 1 1 1 1 I. Replacement of Other (not at -riskl Rental Units Without LMIHF (H &S 33 Eldedy Units Non Elderly Units TOTAL Elderly & Non Elderly Units VLOW LOW MOD AMOO TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL 1 1 1 1 11 11 1 1 I• ILI 1 1 1 1 11,1 J. Subsidy. (other than any activity already reported on this form): Eldedy Units Non Elderly Units TOTAL Elderly & Non Elderly Units VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL 1 1. 1 1. 11. 11 1 1 1 I I1 1 1 1 1 11___ Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units VLOW LOW MOD AMOO TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL 1 1 1 1 1 E 1 1 1 1.111 1 1. 1 TOTAL UNITS (Add only TOTAL of all "TOTAL Elderly /Non Elderly Units"): I If TOTAL UMTS less than "Total Project Unite shown on HCD Schedule Ili, report the remainder' as Instructed below. r Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported: a. Replacement Housing. Units : InclusionaryUnits Other Housing Units Provided: : .. (Sch HCD -D2) 0 Inside Project Area (Sch HCD -D3 ) : . Q With LiMIIHF (Sdi HCD -D5) 0 Outside .Project Area (Sch HCD-D4) D :No Assistance (Sch HGb -D7) California Redevelopment Agendes - Fiscal Year 2008 -2009 HCD-06 Sch D6(9/21/09) Page 2 of 2 0 m a s c 3 m � a w p° = a) S n T 5 m O . a '. g w d -0 - 13 ' 7. a o - 3 o R o ^ g m m a . In m•� a C � : m • 7 7 o �- g 0 a a oo m o D • m -r .. o • ' m .N 3 N Q • 0.m m X." ° Cr ....4 su . ' ° � c . m -5 a 0 to3om c m . 2 n ° , o c s o m S 71. a -f m ID • • m m ' o , o, m m : , a 5� $. 1*' m y m 1 m m N A p -1 m a O 40 .z 0 an 0 is m o - o m . s 3 ° -fl w a m m C 5i 8 O • • eta .. 0. = = O. �?� a tr s 0 m c n . a a o n a 0 _ 0 w '0 ., uag o 5y0 0 E 0 a s0 w 5 In a•:-. N c.-. m . 1' to '71 rrog m - = 3 n 9 : a 5. • ° . , 3 ;Q a ▪ a m m o 3 to 0. 0 }c Q g ¢ m N "O 7 7 a m ' o v' y a O 0 • . D 1 m: fD e cco 0 • T 0) C1 0 . CO O O 03 • 03 i 0 r m 0 E o 0o a W • - Co N N 03 W A m -O. ''O z P 0 m 0 e • m � m - f r.• • -1 . w•. co g n' m Z � - 4 • • O • : . 5 • - W o • -1 ar 13 ete N o '{l1 -4 0 o . rn 0 > r .m 0 A l Cet . 0- -....- 01 0 0 -a: ::: : 0 a -0 • CD = 'T.I 1:1 - 0 '71 40 .{. 0 cb - o - 0 q 0: 0 •'a g a. . ,.. 1. 0) cso CD CD CD :`''. '"A . -0 1 I 1 = ° fi. ID 0 ID 0 —I o - o A . ... 4:. a . 0 . ID 3 113) ID (D sa. fa. co. 17,-:a4 it) - --% = cto • cr 1 ITI (.0 :a aa la $;.D, : 0 13. a 3a3aa r. Fe g al) ?' gs E g e 0 0 0 0 .ier rf) in ct) 3 0 3 3 3' • -.- g = ..- o -8 0 0 cro co n O. co ii i i I a 63 = = = • 0) e. = • - = 6 < .7 4* 0 .-.. 0 0 0 0 0 ca oi m 0 , rii in IT' rn , ,. 0 CQ : I. . 0 0 0 0 -0 i.: 0 .... : fis CD (D. ATI I . rt■ .4 01 0) CII tg . 0 0 or oi 0 .1 In o CF Is, 0 0 Fo a t:3 CF CI --a a 0 a : .... c, -1 . . so • a .< a 6 o 78 o 0 0 g0 , :0 01 N) -a CI CO 0) 01 5 0 z • ql a_ 0. • a 0 t in -M E • 0 00 - a iao t 7,1 m in rt..) 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CO e °I A c • , � 1. v � v 0 01 7 0 ' II n. w m .. m. .z 10 3 71 171 a • 0 b 01 0 0 A M . la °o o °O• o ° o 0 3 z . : -9 , 0 n D D D> D 3 °'' � .O > -Ir N V N N N -< Z 0 * 0 0 a C C f �o � m m o o 0 V A A ° in 0 0 O I Z 0 e a a 0, 0. a -•+ N N p p 0 p 0 0 O al O 0 0 0 0 '� C O m b " ° n R s. 1 IB = iv cr) -� N N 01 al A S ? x 7 • o . ` • l ..1 CO lc O 03 N > 0 N 0 Line Description FORM A, PAGE 1 OF 2 C,D,G Total Outstanding Debt cannot be computed at this time. Pursuant to Section 4 of each respective H,J Loan Agreement, the debt is to be repaid from any, available fund of the Commission, including the portion of taxes mentioned in Subdivision (b) of Section 33670 of the Health and Safety Code of the State of California, when such funds become available and may be utilized for such repayment. Since this time frame is unknow the duration of outstanding debt cannot be estimated and therefore the total amount of estimated interest due cannot be computed. As a result, only the outstanding . debt at year end will be used in the "Total .Outstanding Debt" column while the "Principal/interest Due During Tax Year" will include that outstanding Principal plus the estimated interest due in the • subsequent year. FORM A, PAGE 2 OF 2 A.B,C Same description as above. STATEMENT OF INDEBTEDNESS FILED FOR THE 2009 -2010 TAX YEAR Downey Redevelopment Agency Woodruff Industrial Project 143.05 -i .. •-I • r •O r 'a r -D - E . . r . _ . C . .. r _1.. _1 "0 •• GY 0 0 W S ca.: m .. 10 .0 CO 0 0 X• • -1 . I m m m- m m m m .: m .0 IV 73 01 3 o -r •a 1 . — m - � , v m 0 m 8 . m ID ID (D 0 a ° N. .. J. C ID x or ' In ..S. o 0 .Do y m 4 Av+o.4' g 0 n n. •I. n S_7 0 n a n a ag,_y ,- C .0 . -z '- ,° g•' . t a sv 0 S 0) d = z 'a a m • m 1 t_ o . . CD . (D — — . N N , N [D y . 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O 0 O 0. a 3 A m 1■3 D3 + m m N 0 N N 1 P °-. 3 W 6 C O 0 0 01 0 Q 0 d IT -> O -x O O ._.> O O a m m D3 0 w Co 0 0 w 0 0 0 0 .C 13 C r' r- 7) re-ti Ca 5 .rte G-• •r ^V ' a rc .- m •0w .5 .n Sm .5(0 3 �R ,am am_ 3 a+ m' co 0 0 :.. co o . -.0 [D N 0 a -.10 4Q ru. 17: o . - m ID. D c. o 1 r 17 13 Cv r" "O C-0 cxi r'D 1--0 rb C. r U m an - o.m 0 G1 ° g !P ao m m • �.°� c lfl " d t 0 " -' _ mom w' > N -t... 7 Fr -G . O O' . ` .. m e o I m 2. 0. o o- . K O N ,.--. .L3. ro Q :Q 0 1 : 11 CO = _ w , . "c : Y . N N . 0 0 m a _ A CO to a a) 9. -4 3 3 '3 , o -12 ' O 0 0 . 2 m 0 ° o O . (2, ',3 0 . . m ' m r�i Fr O • –. –. A N N c m o . (0 p O p b 0 0 O O . 0 a a�'3 10 0 t7 . O 0 0 O O 0 o 0 O o o 0 0 0 0 O 0 Q _ co .. m ?t1 . ff '1 B- 3 1 . � - 3. P W _ loo E x ac .1 Al CO t0 O A A A y a - =' Z O g n o W 0 .s a O O O O 0 w W m — -4 to ff ? c Z m 7 m m ? G m o rn a .► te a N NI P. N j Co c0 A A A m n 0 in A O • O b 0 . 0 . co 03 g m O ...3. — -a. a. O O O p _ 1'n �' O O 0 O' O O O m o O O O O O 0 O k . - 0 I0 O z to Line Description FORMA, PAGE 1 OF 2 , B Interest accrued on City Loan Agreement #24 STATEMENT OF INDEBTEDNESS FILED FOR THE 2009 -2010 TAX YEAR Downey Redevelopment Agency Woodruff. Industrial Project 143.05 C -Interest accrued on City Loan Agreement #25 D Interest accrued on City Loan Agreement #27 E Amount of set aside to Housing Fund pursuant to H & S Code Section 33681.5 F County Deferral per attached schedule. G Interest accrued on City Loan Agreement #28 H Interest accrued on City Loan Agreement #30 Pass Through retained pursuant to H & S Code Section 33676 Interest accrued on City Loan Agreement #31 FORM A, PAGE 2 O 2 A interest accrued on City Loan Agreement #33. B Interest accrued on City Loan Agreement #35 C Interest .accrued on•City Loan Agreement#38 D Master agreement for the construction of public works improvements • E Master agreement:for the necessary usage of City facilities, employees and Services, This • agreement is utilized by both the Firestone/Amendmnent#4 Project Area and the Woodruff Project Area however the combined principal total for each Area_ will not exceed For reporting purposes, the principal deb t will be. split 75% for Firestone/Amendment #4 Project Area and 25% for the Woodruff Project Area Depending on the actual activity in each Project Area, this principal balance will be adjusted accordingly to achieve -the combined total of $22000,000 During the. 2008 -09 fiscal year $150,000 was advanced to the Woodruff. Project Area under the terms . set forth in the•above agreement. The $27,000 reflected on page 2;. line E of the Reconciliation` Statement represents the interest owed during the year . and paid at year end:..: AGENCY NAME Downey Redevelopment Agency PROJECT AREA Woodruff Industrial Project TAX YEAR: 2009 -2010 RECONCILIATION DATES: July 1, 2008 TO June 30, 2009 • NOTES' CALCULATION OF AVAILABLE REVENUES 1 Beginning Balance, Available Revenues 359,750 (See instructions) 2 Tax Increment Received -Gross All Tax Increment Revenues, to include any Tax Increment passed through to other taxing agencies 3 All other Available Revenues Received 20,424 (See Instructions) :4 Revenues from any other source, included in Column E of the Reconciliation Statement, but not included in (1-3) above 5 Sum of ties 1 through 4 6 Total amounts paid. against indebtedness in previous year. (D + E on Reconciliation Statement) 7 Available Revenues, End of Year (5-6) FORWARD THIS AMOUNT TO STATEMENT OF INDEBTEDNESS COVER PAGE, LINE 4 Tax Increment Revenues: •The only anQpunt(s) to be excluded as:Tax Unrxeinent Revgtrue are any amounts passed through to.other total taxing •agenaea pursuant to Health and Safety Code Sectieir 33676. Tax Increment Revenue set-aside. M the Low and • Moderate Income Housing Fund will be washed in the above-calculation. and therefore omibed from Available... Revenues at year end. ' Item 4. above .. . This represents any payments front any source other than Tax increment OR available revenues. for instance; an agency funds a project with a bond issue: The previous SOI included a Disposition Development Agreement (DOA): vvhfch was .fully satisfied with these bond proceeds.• The ODA.wouid.be shown on the Reboncuation Statement • as fatty repaid under the "ot ee column (Col E), but with funds that were rieIther Tax Increment, rror : Availible'Revenue$` as defined: The amounts .used to satisfy this DDA would be inducted 6n line 4.above.in orderlo accurately detersnineendirig. Avalable Revenues a • . 1,086,736 1,466.910 855,800. 611.110 7J •» - o - 3. .1 0 - D , a 1 o ' • 3 r m . n .. c ° m 0 m • N ^ C r11. N" G . 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N N O w 0) CO ° w z.z . z' D D D CO N • N q 0 5�3 m c a w .o 0• %3 0 CO . .N AJ 0) a' 0 a . (n O -CO n O O O D 0 9 Co N o• O O 0 O .. . O. • O a O . O O O Z . 2 . • z D D Y _ _ _ N N N • ) o �- 000.0: + 0 0 0 0 j 0 W 03 o 20 20 R020 to • N N O O CO CO a >>> o 0 0 '0 0 0 a. a. a. Q. 0 0 0 0 0 0 00 3 3 3 3 o 0 0 0 0 0 0 a S • C7)25107 o ... . -.. ` (D < j O m N CD 0) - w -' mmmm a CO x 0 0 0 - o � 0) 0 0 1 01 ID co °f a 0 a mrnmm m 0 Ca 0 o. 0 CO 0 -A 3 3 3 3 o O o 0' O O O O • , , O 0 N CA co N CO O - O 0 O O O " n CD CD CD (6 -P.- M CO CO CO E o ill ° o LI. .0 co C7, N N CO -4 3 0) 0) CO N N N . 0 01 x 0 CO ° (0 O 0 0 O O O . I g 0 0 0 O O O O O ' 'RI a a o a r .- 0 r- - � :.c .' m. v n w.. 5> - z w ` ▪ .: 0 . 1:1 , - o . � , g g : a n c 0 N fa .o Q m g .2' • o -,. s 3 . • 0 m D go 0- o = m " b o 3 O CD 0 Fri n. � : w �' N m. m 0. 0. O Er ff. m •- o • K � vm m w g- p m co Er v m 0 C?_ n 3 t a s H. P : 0 iu m ✓ 3 'g P 711 0 . a rn z m . iF m In O° 3 rt 3 Q1 Q O O O 2 ' Z • .. 0 • m '' o 0 0 ° ° M o O •o A ID - v cn 0 0 0 = X Z • m m o •. o CO cl Z Z Z m O, D D D 3 B 0 ,t v3v3v ,5'i'. 0 D --1. r ~� rn N ▪ • v N m o o 0 c c ' v n = 5 - m X s g 0 03 lV m a -� �' O 0 0 0 0 0 0 CO 01 0 CO 0 0 C g al w a O) O -'.. a CA O . ` O 3 o - 0° 0 `° o O 0 m p 0 0 0 . P ' W O ,� .A s w CD - • -j O o o -< „ 0 CO 0 - 0 .. 0 0 0 °; - LO o CO co 3 0 -„ Line Description FORM A, PAGE 1 OF 2 . 1-1, E J Total Outstanding Debt cannot be-computed at this time. Pursuant to Section 4 ofeach respective Loan Agreement, the debt is to be repaid from any available fund of the Commission, including the portion of taxes mentioned in Subdivision (b) of Section 33670 of the Health and Safety Code of the State of California, when such funds become available and may be utilized for such repayment. Since this time frame is unknow, the d of outstanding debt be estimated and therefore the total amount estimated interest due cannot be computed. As a result; only the outstanding debt . at year end will be used in the "Total Outstanding. Debt" column while the "principal/Interest Due .During Tax Year" will include that outstanding Principal plus the estimated interest due in the subsequent year. FORM A, PAGE 2.OF2 A Same description as above. STATEMENT OF. INDEBTEDNESS FILED FOR THE 2009 -2010 TAX YEAR Downey Redevelopment Agency Firestone /Amendment No. 4 143.06 c.0 3s." • 0 � m o . o . • 3 0 • . a m m 5 o .1 - c aov cn • x. 0 Si 0 0 .+ m s a. a� fira 5 m c CO C m cr0 a 0 it, e . cm 3 m 0 00 c 3 21 4 - m y^ O m m O 0. a s ar 0 m o o 3 3' 0 m Sm < m —a 0 o m 0 3 p a " `o m (nag S p p a m g 0 _ o 7 c o m 3 a .DWm - 4 o c+ 0 0 m 0 0 .0 m ` D=EC 0 . rQ ' 0 - 0U0 mm a. mho 0m 0 m m 3 b 6 0 ,N N C W N O) 0 -. cn a N co 0 0 0 0 .. ..-1 • 0 .._ m. . m �' .m m O. . m_ y r 3 0 ." .' M 0 - W- n o CO. • . = -. r 0. N - m c0 7'm = W •31 - '!Q = m oco co � . .0 m m ., .m W: m m m ' _m 0 n s . O `►. , .► ,m " a .+ O. ` III . > : m . 0 'E7 'O. 0• .0 0 0 0 n' m . ti . �' o. < c: c Q 2 m .m r i o m r r r ? . r . . . n a U 01 O Q ( fl ' R [q co 3 co 3 3 3 ..3 2 M 3 .. to co 0 • . 0 co N !!' : . ( N 0 01 A ' � c. 0. A . m 0 z 0 . m ; t - .0 0 o. • 3 Z s N Cal CO v m 0 `n 0 m (A m 7 4' .1)L. : D m D o g o ° o CO ro . ° . - '3 a 'l 0 0 0 to Q m m a it 3 0 s A..) -P. .,N u 'c *-1 D CO O O) , N Or g o. m C - 00 3 ` 0 • D c.. 2 c a P g 0 0 6 o 8 'm w m —1 o Z m m 03 x Q . iv .a y N ,, •ia R , 0. 3 O 'co o A C v o c 4s. to o 0) CO c - to Q a 3 co -n • an c 0 0) Co N 10 �1 N_ 8 N W CO 0 CO 0 Us 0 44. 0 . o O O a m -a m m ..a W N > n g e - rn P m m O A N 0 7 W 7 W 7 P 7 m 7 m 5 7 m 7 1 0 S'44 5 m y O. 40 7; m k ID ' D O 0 , CD 4P 0 m 0 m- • ID � V. • 0H Ka 14 > _` �. _ I CO d ti . CO I"' 'o _r, 7) 'D r 'o 'r - 0 'r 'D' 'r b 4? . C "o C v C 'D 'o r' v a a m w m j m 5' 4 0: ? m . 5 'm D ID a a 0 p. m 7 m 7 ' 3 D , m q m 740 n m..' m m m � a CO AN ta N > t: '''. -lb N' 3 a 3 W :a :$ O n 'v 0 n n o �_ m, " vi • D O O O a . w ` a. Q. < N . a. .2 'o > SD a ° D D D a m m 0 ' 2 • 3 3. 3' 0 m a 3 a W - - M. 8 o . w ° .0 w. O CO O O q bi g c a= w o b co co m .s ' w, o . N CT* 0 0 0 S _ $ 0 >> . 10 X CD a D Q • o O 0 0 0 y o m a 0 0 fii p O O O O O m = G 4 D �• 171 3 C 3 1 �4 im r > a W N A N V V g A s 'A N 01 0 N %) = a , O N O 0 O o n -. 1T1 CID * 0 . 0 0 O cc o 3 — .-1 N m a z !n c a In N i o CO i» w O ,i3 O N N O . 0 0 0 0 3 ID 0 5 c a w p ; m ,3 O O 0 _. m m g w m M 9 9 A 0 O O o 9 0 fD m O O O O O O O. O Line Description • FORM A, PAGE 1 OF 2 A City Loan Agreement #16 paid. Reflected here for tracking purposes only B County Deferral per attached schedule C City Loan Agreement #24 paid. Reflected here for tracking purposes only D City Loan Agreement #25 paid. Reflected here for tracking purposes only E City Loan Agreement #29 paid. Reflected here for tracking purposes only • F Amount of set aside to Housing Fund pursuant to U & S Code Section 33681.5 G Pass Through retained pursuant to H & S..Code Section 33676 • H Interest accrued' on City Loan Agreement #32 interest accrued on City Loan Agreement #34 J interest accrued on City Loan Agreement #36 FORMA, PAGE 2 OF 2 A Interest accrued on City Loan Agreement #37 • 13 Master agreement for the construction of public works improvements C Master agreement for the necessary usage of City facilities, .employees and services. This - agreement is utilized by both the Firestone/Amendment #4. Project Area and the Woodruff Project Area however the combined principal total for each Area will not exceed $22,000,000. For reporting purposes, the principal debt will be split 75% for Firestone/Amendment #4 Project Area • and 25% for the Woodruff Project Area Depending on the actual activity in each Project Area this principal balance will be adjusted accordingly to achieve the combined total of $22,000,000 During the 2007 -08 fiscal year $646,570 was advanced. to the Firestone/Amendment No. .4 . pursuant to the Public Works Master Agreement and. $1,100;000 was advanced :pursuant to the City Aid Master Agreement. , The $45,264' and $222,000.reflected: on Page 2, Lines B & C, respectively, on the Reconciliation Statement represents the Interest owed during the year and paiid at year end: STATEMENT OF INDEBTEDNESS FILED FOR THE 2009 -2010 TAX YEAR Downey Redevelopment Agency Firestone /Amendment No. 4 143.06 • NOTES CALCULATION OF AVAILABLE REVENUES AGENCY NAME Downey Redevelopment Agency PROJECT AREA FlrestonelAmendment No. 4 TAX YEAR: 2009 -2010 RECONCILIATION DATES: July 1, 2008 TO June 30, 2009 1 Beginning Balance, Available Revenues 1,374,471 (See Instructions) 2 Tax Increment Received -Gross Alt Tax Increment Revenues, to include any Tax Increment passed through to other taxing agencies 3 All other Available Revenues Received 77,772 (See Instructions). 4 Revenues from any other source, included in Column E of the Reconciliation Statement, but not included in (1 -3). above 5 Sum of Lines 1 through 4 3,529,473 6 Total amounts paid against indebtedness in previous year. (0 + E on Reconciliation Statement) 7 . Available Revenues, End of Year (5-6) FORWARD: THIS AMOUNT TO STATEMENT OF INDEBTEDNESS COVER PAGE, LINE 4 Tax increment Revenues: ' . • • The ontyamopunt(s)to be excluded as�Tax Increment Revenue are any arnountspassed thioughto other local taxirx{ • agendeS pursuant to Health and Safety code Section 3.1675: Tax Increment Revenue setaside in thetow and • • Moderate Inane Housing Fund Will be washed in the above calcidation, and therefore omitted Available • • Reveniiesat year end.. . In 4. above • This represents arty paymeints any soome other than Tax Increment OR available :reverwee: t:Or instance, an . agency finds a project with a Bond issue. The previous SOt included a Dispositio' n Development Agreement (DDA). Whiich•was futlysatiSfied with these bond proceeds. The DDA woutdbe showily/1 the RecoricNatlonStatement • as linty repaid under. the "other column (Col E . but'wdti funds that were neither Tax Increment. not Avaxable Revenues" ` asdelined: The ainounfs used to satisfy tits DDA would be Included line 4 above in onlerto accurately. . .. ' determineeendiniAvailable Revenues." 2,077,230 4;219;20) 2310,264 Xl' - Z' "1 2. .G) v ' 71. • Q a i .• g • m ` • .in n m o i _ 0 . G 0 < « ▪ r . ,, o 'w 0 Ssw-n X0° l +[D.. 0 . f - v a • .. �7 0 14 O j O � C- 67 . m -� a � . g' p p 42( a ib0- -..— ID m w 3 Al R+ 9 0 o- O - .. -.b 0 ...n. 0,-E.. m ni a --4 .K R a . n . g y c m .og. i� m m . m �' 0 ▪ 71 o ' 51'. 'nm c3 Ili mS o a . 3 3 a a'n m - 0 o. a °tea 0 ▪ m 5 c 2 . a W.. a °: O 0 c 0 • n3 0 • O - 0 3 G. • O +. b W N y 0 3 • OI D j j v m 0 a c• 0 N 5 N a v • 1 N W o L. a 0 te S o 3 3 O. o g m n D C in 'n' w m o a o • c CD c o � m m O > 5 > v O. 0 0 0 3 5 a o 8 m • 0) A O O) m • • 43 0 ..o o • - 3 0 O A 0 0 0 tO z m -o 23 6 • m ..0 0 c 2 0 o m 2 .. 0o n 01 XI m C 0 N 3 0 0 . 0 N b 7 g1 m A .A. lD 0 z 5 N -' N - a o Co o 0 co fq O O o. 0 0 0 O 0 O •0 , ° o a 0 . " n C 0 . . ti . :. CI to N s 0 0 N 0)) CO 03 W 0. CO Co O N N X m izo "co "co "co O to O A O P. O co O co - » O 0) o 0 •• O ▪ G - ?C G 0. io r r N A p t A O ) . m O. 0 8. a • 4 o o : m m . N ( D (D W. z m Q O s). 8 . C 7 0 .' '`- M. C) N P 15 W - . P S ?-: -- Ti7. ',Z • D•p 3 . 71. Tn•: P3 TA . m ii fl 0 • o W 0 1 2 A o CO N 0 (n 03 4 (o A N "co O o o 0 CO CO W D 0 N ,N CO - O 4 I3 n 0 0, (x( 0 0 .0 — 0 0 0 - 0- 0 0 4 . to z z co is n n . t fu fi rri (0 7 03 E o 9' a W » 2 . z o ' m' z 0 o� D y vao,Q s 6 ' a o' 3 oe I S* ? $ w o � _ 0 . 07 m (n .a° 0 wa 46 'Sm <. O00 56•5 N gt m = 0 0. aaa zvo o liggg • 0, o 0) W . a r w4 3 a a m c o . A A o oa CID 0 3m5'_ w0 0'0 o w 4,) 0 o 0 0 33 'tt . 2 1 1) rn � 2 .o 2. o rn s0- o 0 w o„ m O ,0 c $ z A �I •s•0 g E 0-00 g 0 elm:: o ° O 5 5 m 0) . 5 o Q w o a 3 o a ° o o 3 i 3 g D w 7 - - tre — a aw w w O0. m 4.. a w a ? w a � o 0 r m m C 0 of 0. 0 m .. = n 2 co co w W a • A - a a O 510 5,4016a 50 5ro ..(0 Sao om -{. •m ' m 0 : (0. 0 . tD m j 0 • 'b a p : o. 03 . • . o) m D _ M om mm m 040 fm ,gym 0 N n . m oa _ iD 7D ' . n rl, 0.� 0 j D b j (D m O m 0 n m. m n. D g . . a o o CD = o. m o o a A 0. . 0' W 7 X O z 0 . fit - 0) W N a C1 O • CO 0 m g o . O O O --% • R. Q g o oo • oo c ' " 5 m P. a . O. o . S 3 g -a an of = 0) 0. w a _. a + • W m O) O) N -A. N W m 3 a m rn O O O ▪ 0 0 O W ? 0) 0) b O O O) m A A 0 0 o A 0 m w 0 z• STATEMENT OF .INDEBTEDNESS FILED FOR THE 2009 -2010 TAX YEAR Downey Redevelopment Agency FirestonelOriginal Area 143.02, 143.03 Line Description 6 Interest accrued on City Loam Agreement #25 C interest accrued on. City Loan Agreement #26 D Amount of set aside to Housing Fund pursuant to H & S Code Section 33681.5 CALCULATION OF AVAILABLE REVENUES AGENCY NAME Downey Redeveiopment.Agency PROJECT AREA Firestone /Original Area TAX YEAR: 2009 -2010 RECONCILIATION DATES: July 1, 2008 TO June 30, 2009 :NOTES: : Tax Inc cement Revenues: .• • . The onfy,amopunt(s) to be..excfuded as Tax lncnemeht Revenue are any amounts passed furor to Other. localtaxkig aggendespixsuant to Health and Safety Cdde Section 33676: Tax Increment Revenue set -aside in tyre t,ovi and • Moderate Housing Fund will- tie washed hi the above calculation, arid therefore omitted from Avalbble. . .Revenues at-yearend: : : Ilem abbire • This reprints any payments from any source other than Tax t icrement OR available'revenues. for tnstanoe; an agency fonds a project with a fond Issue. The previous SO! Included a Disposition De rek: merit Agreement•(DDA)• • . which was fully.satisfiedwith these bond proceeds. The DDA wouid be shorn on the Reoonc Wation Statement as .fullY r epaid under the "Ot ier" column (Col.E), but with funds that were•neitherTax tntement, far "Available Revenues' asdefined:.The amounts used to satisfy this•DDA would be included ontine4 above'in orderto accu ate1Y determk%e ending "Avaltabte Rerenuea." • 1 Beginning Balance, Available Revenues 1,189,091 (See Instructions) 2 Tax Increment Received -Gross 1,550,000 All Tax Increment Revenues, to include any Tax Increment passed through to other taxing agencies 3 All other Available Revenues Received 58,341 (See Instructions) 4 Revenues from any other source, included in Column E of the Reconciliation Statement, but not included in (1-3) above 5 Sum of Lines 1 through 4 • 2,797,432 6 Total amounts paid against indebtedness ' in previous year. (O E on Reconciliation Statement) 1,399,450 7 Available Revenues, End of Year (5-6) FORWARD THIS AMOUNT TO STATEMENT OF INDEBTEDNESS . 1,397,982 COVER PAGE, LINE 4